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2025-03-31-accounts

William Jones’s Almshouse Charity

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year ended

31 March 2025

Charity No: 230514

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

TABLE OF CONTENTS

Page
Reference and administrative details 1
Mission statement and values 3
Report of the Trustee 4
Independent Examiner’s report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the financial statements 11

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Reference and administrative details

Patron Haberdashers’ Company Trustee Bristol Charities is the corporate Trustee of William Jones’s Almshouse Charity CEO & Company Julian Mines BA (Hons), PGCE Secretary Principal and registered office The Vassall Centre Gill Avenue Fishponds Bristol BS16 2QQ Telephone: 0117 930 0301 Email: info@bristolcharities.org.uk Website: www.bristolcharities.org.uk

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Reference and administrative details (continued)

Property advisers Alder King Pembroke House 15 Pembroke Road Bristol BS8 3BA Independent examiners Bishop Fleming Audit Limited 10 Temple Back Bristol BS1 6FL Legal Advisors Womble Bond Dickinson LLP 63 Temple Quay Temple Back East Bristol BS1 6DZ Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS1 4QA Bankers Handelsbanken 66 Queen Square Bristol BS1 4JP

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Report of the Trustee

Mission Statement and Values

William Jones’s Almshouse Charity is part of the Bristol Charities Group and shares its vision and mission.

Achievements and Performance

Plans for the year Ahead

Our plans and objectives for the year ahead include:

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Legal structure, governance and management

William Jones’s Almshouse Charity is a registered charity number 230514. The charity is governed by a scheme of the Charity Commission dated 12 July 2001, modified by a scheme dated 3 October 2007 and by special resolutions of the Trustee dated 23 June 2011 and 19 September 2024.

The charity shares the governance and management structure of Bristol Charities. Day to day management of the charity is delegated to the Chief Executive (Julian Mines). The Chief Executive reports progress on key areas of work to the Board on a regular basis. The address of the principal office of the charity as well as names of the charity’s Trustee, Bristol Charities, can be found on pages 1 to 2.

Training induction and appraisal of Trustees

Bristol Charities is the sole corporate Trustee of William Jones’s Almshouse Charity and therefore the following paragraphs relate to the Trustees of Bristol Charities.

New Trustees take part in a Structured Induction Programme, attending meetings with key staff and other Trustees, visiting projects and sites and are encouraged to attend all committees to really get an understanding of the work of the charity. This year the charity developed and introduced a comprehensive Induction Pack.

Trustees are sent information on a regular basis on training courses and briefings. A regular item has been introduced to the Board of Trustees meeting agenda to provide updates on policy/legislation changes. Trustees who have attended training are encouraged to share knowledge with fellow Trustees.

The Chair meets with each Trustee regularly to review their performance and to receive feedback. A summary of those meetings is reported to the Nominations Committee.

Public benefit

The objects and aims of William Jones’s Almshouse Charity are contained in the governing scheme dated 12 July 2001.

Its objects include the provision of housing accommodation for beneficiaries who

The Trustees of Bristol Charities have considered the Charity Commission guidance on public benefit from section 17 of the Charities Act 2011. We believe that the work of William Jones’s Almshouse Charity has directly benefited people by

The Trustee’s Report section on page 3 sets out the aims and strategies of the charity and demonstrates how the aims and activities of the charity during the year were carried out for the public benefit.

Pay policy for senior staff

The pay of the senior staff is reviewed annually by the Bristol Charities Remuneration Committee.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Risk Management

The Board of Trustees of Bristol Charities oversees risks annually with additional operational and financial risk assessment through delegation to the relevant committee and to the Audit and Health & Safety Committee. It oversees its responsibility through its review of the effectiveness of the charity’s Risk Framework. This framework is designed to support informed decision-making regarding the risks that affect the charity’s performance and its ability to achieve its objectives.

Management of risk is embedded into our day-to-day business activities and wellestablished processes and policies are in place to manage them. All our employees have a role in reducing risk through our internal control framework.

Risks are recorded in a risk register and are evaluated in terms of impact and likelihood. The register also provides for a consistent approach to identifying assessing and dealing with the risks facing the charity so as to ensure they do not exceed the level of risk the charity is willing to assume. The register is designed to manage, rather than eliminate the risks to the charity’s objectives and to provide reasonable, but not absolute assurance against material misstatement or loss.

The Audit and Health & Safety Committee biannually reviews the results of the risk reviews undertaken by management and approves an annual risk-based internal audit plan which covers the major risks identified.

Principal Risk and uncertainties

Bristol Charities’ Trustees and staff have, during the year, reviewed the principal risks to the charity. Actions to mitigate these risks have been developed and progress on these actions monitored regularly at both Board and Senior Team level. Bristol Charities’ Trustees are satisfied that these mitigation actions have reduced the following risks to an acceptable level:

Risk: Management Actions:
Failure of the charity's
internal H&S and compliance
policies, protocols and
procedures result in a
breach of compliance
requirements and associated
negative PR and reputational
damage.		  External advisers appointed in key areas such as a health &
safety, safeguarding and fire safety.
 Facilities Management on all properties outsourced to external
experts.
 Accident and incident logs, complaints logs and risk
assessments monitored regularly.
 Ongoing challenge from both the Audit & HS Committee and the
Board of Trustees.
 Food hygiene protocol implemented upon commencement of the
operation of a kitchen facility.
Stock mix across the housing
portfolio is not adequately
planned or managed
resulting in inefficient
allocation of resources,
additional cost burden or
dilution of quality within the
service.		  Staffing structure in housing function optimised for delivery
against current stock mix.
 Engagement with the Local Authority to assess demand and
opportunity in both existing schemes and potential housing
developments.
 Attendance at peer group meetings for knowledge sharing.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Financial review

The charity reported total income for the year of £244,674 (2024: £225,131), total expenditure for the year of £316,226 (2024: £310,889) and gains on sinking fund investment assets for the year of £891 (2024: £2,012), giving a deficit for the year of £70,661 (2024: £83,746). The decrease in deficit for the year has been attained through a 7.7% (CPI+1%) increase in core weekly maintenance charge income whilst simultaneously containing expenditure inflation. Of note is a 16.4% year-on-year decrease in maintenance expenditure achieved through careful management approaches.

A planned preventative maintenance arrangement has been in place with Alder King LLP, which the trustee has already taken the decision to extend by one year to 31 March 2026. The arrangement will continue to minimise the level of unforeseen reactive maintenance expenditure, allow the charity to smooth its costs over a longer period, and therefore budget for these costs with more confidence.

Going concern and reserves policy

Under the terms of the charity’s Reserves Policy and in forming a view on the charity as a Going Concern, the Trustee has noted:

The Trustee has determined that an appropriate level of free reserves is:

One month of projected operating costs (i)
One year of almshouse sinking fund contributions (ii)		 £
14,000
28,000
42,000

(i) One month of operating costs is deemed appropriate as the nature of these activities means that one month is likely to represent a maximum time period over which they may be required to operate without any additional income.

(ii) This represents the annual contribution required to the charity’s almshouse sinking fund in order to build up sufficient funds to cover the cost of the likely cyclical maintenance programme over the life of that programme.

The balance on unrestricted funds at the year end, including designated funds, was a deficit of £41,333 (2024: surplus of £6,509), which is £83,333 behind (2024: £36,491 behind) target. The Trustee has determined that this is a temporary situation given the following:

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

The annual report was approved by the Trustee of the Charity on 16 September 2025 and signed on its behalf by:

Andrew Street (Chair of Trustees, Bristol Charities)

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Independent Examiner’s Report

I report to the charity Trustee on my examination of the accounts of the charity for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the charity’s Trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner’s Statement

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the charity's Trustee in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustee those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustee for my work or for this report.

Mr C Trantham FCA For and behalf of Bishop Fleming Audit Limited Chartered Accountants 10 Temple Back Bristol BS1 6FL

Date:

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Statement of Financial Activities

Unrestricted
Funds
Notes
£
Income and Endowments
Charitable activities
2
233,338
Investment income
3
2,295
Other incoming resources
4
4,968
Total
240,601
Expenditure on
Charitable activities
5
(289,334)
Other expenditure
6
-
Total
(289,334)
Gains/(losses) on investments
9
891
Net (expenditure)/income
(47,842)
Gross transfers between funds
7
-
Net movement in funds
(47,842)
Reconciliation of funds
Total funds brought forward
15
6,509
Fund balances carried forward
(41,333)		 Unrestricted
Funds
Notes
£
Income and Endowments
Charitable activities
2
233,338
Investment income
3
2,295
Other incoming resources
4
4,968
Total
240,601
Expenditure on
Charitable activities
5
(289,334)
Other expenditure
6
-
Total
(289,334)
Gains/(losses) on investments
9
891
Net (expenditure)/income
(47,842)
Gross transfers between funds
7
-
Net movement in funds
(47,842)
Reconciliation of funds
Total funds brought forward
15
6,509
Fund balances carried forward
(41,333)		 Restricted
Funds
£
-
236
3,837		 Endowment
Funds
£
-
-
-		 Total
2025
£
233,338
2,531
8,805
244,674
(313,944)
(2,282)
(316,226)
891
(70,661)
-
(70,661)
1,071,508
1,000,847		 Total
2024
£
219,445
1,632
4,054
240,601
(289,334)
-		 4,073
(180)
(2,282)		 -
(24,430)
-		 225,131
308,374
2,515
(289,334)
891		 (2,462)
-		 (24,430)
-		 310,889
2,012
(47,842) 1,611 (24,430) (83,746)
- - - -
(47,842)
6,509		 1,611
10,682		 (24,430)
1,054,317		 (83,746)
1,155,254
(41,333) 12,293 1,029,887 1,071,508

All of the charity’s activities derive from continuing operations during the above two periods.

The funds breakdown for 2024 is shown in note 21.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Balance Sheet – Charity Number 230514

2025 2024
Notes £ £
FIXED ASSETS
Tangible assets
9		 1,788,394 1,756,595
Investments
8		 60,255 30,375
1,848,649 1,786,970
CURRENT ASSETS
Debtors
10		 18,032 10,773
Cash at bank and in hand 62,177 88,262
80,209 99,035
LIABILITIES
Creditors: Amounts due within one year
11		 (556,562) (405,088)
Net current assets (476,353) (306,053)
Total assets less current liabilities 1,372,296 1,480,917
Creditors: Amounts due after more than one year
11		 (371,449) (409,409)
Net asets 1,000,847 1,071,508
FUNDS
General unrestricted funds
14		 (52,697) (3,480)
Designated funds
14		 11,364 9,989
Restricted income funds
14		 12,293 10,682
Endowment funds
14		 1,029,887 1,054,317
Total charity funds 1,000,847 1,071,508

The notes on pages 11 to 20 form part of these accounts.

The financial statements of William Jones’s Almshouse Charity were approved by the Board of Trustees of Bristol Charities and authorised for issue on 16 September 2025 and signed on their behalf by:

_________

Andrew Street (Chair of Trustees, Bristol Charities) Date: 16 September 2025

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

Notes to the Financial Statements

1. Accounting policies

Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland.

Going Concern

The charity’s activities and future plans are set out in the Trustee’s report.

The charity has experienced overall in-year deficits in the current and previous years and the level of general unrestricted funds is negative at the year end.

In addition, the charity shows a net current liabilities position at the current and previous year ends. The charity’s net current liabilities position is due to the existence of c. £536,000 of group debt at the year end. The charity shows a net current assets position of c. £60,000 if intercompany balances are excluded. Other group companies will support the charity in its borrowing, and group debts will not be recalled unless the charity is fully able to pay.

These income and expenditure results arise from unusually high levels of maintenance expenditure, intercompany loan interest payable, and group management charges payable in the current and previous years.

The charity’s earnings before interest expenditure and allocated internal management costs remains strong. The Trustee’s forecasts and projections, taking account of reasonably foreseeable changes in income and expenditure and including the proposed refinancing of group debt, show that the charity should be able to continue to operate on the basis of strong core financial performance.

Based on the above, the Trustee has a reasonable expectation that the charity has adequate resources to continue for the foreseeable future. Accordingly, the Trustee continues to adopt the going concern basis in preparing the report of the Trustee and the Financial Statements.

Income and endowments

All income is recognised in the Statement of Financial Activities on an accruals basis. Income has been recognised gross on the basis of entitlement and reliable measurement.

Rental income from housing properties is included on a receivables basis.

Investment income is recognised on an accruals basis.

Other incoming resources is recognised on an accruals basis when there is entitlement, and the receipt is probable, and the amount can be measured with sufficient reliability.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

1. Accounting policies (continued)

Expenditure

Expenditure is recognised when a liability is incurred. The majority of costs are directly attributable to activities in furtherance of the objects of the charity.

Support costs

Support costs for residents have been allocated to activity cost categories on a basis consistent with the use of resources (e.g. allocating staff costs by time spent and other costs by their usage).

Governance costs

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Value added tax

Value Added Tax (VAT) is not recoverable by the charity and expenditure is shown in the accounts inclusive of VAT.

Tangible fixed assets

Housing properties are initially stated at cost. The cost of such properties includes the cost of acquiring land and buildings, development expenditure, and expenditure incurred in respect of improvements which increase the future net income stream. Interest is capitalised up to the date of practical completion of the relevant scheme.

Depreciation is charged on a straight-line basis as follows:

a. Housing Properties

a. Housing Properties
Component Useful Economic Life (Years)
Kitchens, Bathrooms, Heating 20
Roof, Windows, Lift 20-30
Structure 100

b. Fixtures, fittings and equipment

b. Fixtures, fittings and equipment
Component Useful Economic Life (Years)
All 5

Depreciation is split between the unrestricted and endowment funds pro rata to the net book value of the underlying fixed assets.

No value is attributed to the land owned by the charity. Historical cost information is no longer available for this property and the Trustee considers that attempts to provide valuations on an existing use basis would produce no useful or reliable information. If it were possible to base a provision for depreciation on historical cost, it is probable that the amount would not be material.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

1. Accounting policies (continued)

Debtors

Debtors are recognised at the settlement amount net of any discounts offered. Prepayments are valued at the amount prepaid after taking account of any discount due.

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

Taxation

William Jones’s Almshouse Charity is a registered charity and as such is entitled to relevant tax exemptions on its charitable income and gains properly applied under normal circumstances for its charitable purposes.

Funds Structure

Designated funds represent unrestricted funds which have been earmarked by the charity for specific purposes. They include a sinking fund earmarked to fund future major cyclical maintenance work.

Unrestricted funds represent income received which is expendable at the discretion of the Trustee in furtherance of the objects of the charity.

Restricted reserves represent the amounts charged to householders as service charges less costs incurred relating to the Householders share of the common areas.

Endowment reserves represent the original endowment of the charity which was used to invest in freehold land and buildings less the depreciation of endowment properties.

2. Incoming resources from charitable activities

Charitable activity: providing almshouse accommodation

Maintenance charges
Heat and water charges
Losses from voids
Total almshouse income		 2025
£
226,692
15,155
(8,509)
233,338		 2024
£
210,771
15,135
(6,461)
219,445

In the years ended 31 March 2025 and 31 March 2024 all income was attributable to unrestricted funds.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

3. Investment income

Unrestricted investment income relates to dividends received on designated almshouse sinking funds held in an investment portfolio and interest earned on cash deposits. Restricted investment income relates to interest earned on cash deposits held within the leasehold common parts sinking fund.

4. Other incoming resources

Other incoming resources allocated to restricted funds relate to service charges received from residents of the ten privately owned leasehold properties on the site to cover their share of maintenance costs for the shared areas. Other incoming resources also includes amounts for repairs and maintenance costs recharged to almshouse residents.

In the year ended 31 March 2024 there was £206 attributable to unrestricted funds and £3,848 attributable to restricted funds.

5. Analysis of expenditure on charitable activities:

Charitable activity: providing almshouse accommodation

Maintenance
Other Property Costs
Resident Support Costs
Staff costs
Loan Interest
Management
Administration
Governance
Depreciation
Total expenditure		 Unrestricted
Restricted
Endowment
Total
Total
Funds
Funds
Funds
2025
2024
£
£
£
£
£
87,083
-
-
87,083
104,869
36,637
-
-
36,637
34,553
2,390
-
-
2,390
1,162
34,541
-
-
34,541
23,526
32,808
-
-
32,808
35,599
56,974
-
-
56,974
53,216
6,399
180
-
6,579
10,611
3,420
-
-
3,420
3,420
21,976
-
24,430
46,406
41,418
289,334
180
24,430
313,944
308,374

In the year ended 31 March 2024 the amounts of expenditure attributable to unrestricted funds, restricted income funds and endowment funds were £283,764, £180 and £24,430, respectively.

6. Other expenditure

When William Jones’s Almshouse was built, ten private houses were also built on the site to help fund construction of the new almshouse. The houses were sold by the developer on long leases. The charity manages the site and charges a service charge to the leaseholders (see note 4). During the year, £2,282 (2024: £2,515) of the costs of maintaining the site, facilities and administration have been allocated to the service charges paid by the ten private leaseholders.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

7. Transfers

The charity has a total sinking fund for the shared areas of £22,728 (2024: £19,674), of which £11,364 (2024: £9,837) is a designated fund and £11,364 (2024: £9,837) is a restricted fund. During the year a transfer of £1,140 (2024: £1,144) was made from unrestricted funds to the designated sinking fund.

8. Tangible fixed assets

8. Tangible fixed assets
Fixtures,
Freehold land fittings
& buildings & equipment Total
£ £ £
Cost
At 1 April 2024 2,194,421 15,448 2,209,869
Additions in the year 1,500 76,705 78,205
At 31 March 2025 2,195,921 92,153 2,288,074
Depreciation
At 1 April 2024 439,022 14,252 453,274
Charge for the year 41,339 5,067 46,406
At 31 March 2025 480,361 19,319 499,680
Net book value at 31 March 2025 1,715,560 72,834 1,788,394
Net book value at 31 March 2024 1,755,399 1,196 1,756,595

For insurance purposes the value of the charity’s freehold land & buildings is £5,559,840 (2024: £5,152,038).

9. Investments

The charity has established an almshouse sinking fund which is intended to fund the cost of major cyclical maintenance of the charity’s almshouse assets over a 50 year period. The sinking fund contributions are invested in an investment portfolio managed by Evelyn Partners. The movements on the sinking fund investment portfolio are shown below.

Movements in the year
Market value 1 April
Additions
Disposals
Investment management charges
Cash introduced or withdrawn
Adjustment to market value
Market value at 31 March
Historical cost		 2025
£
30,375
6,627
(5,666)
(503)
28,000
1,422
60,255
56,000		 2024
£
-
1,560
(1,807)
(285)
28,000
2,907
30,375
28,000

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

9. Investments (continued)

Breakdown

UK fixed interest bonds
Alternatives and Multi-Assets
UK quoted equities
UK Investment & Unit Trusts
Overseas Equities
Cash
Market value at 31 March
Share of gains
Realised gains
Unrealised gains/(losses)
10. Debtors
Due within one year:
Prepayments and accrued income
Trade debtors
11. Creditors
Due within one year:
Repayments due on loan from group entity
Amounts owed to parent company
Amounts owed to group entity
William Jones's Schools Foundation loan
Trade creditors
Accruals and deferred income
Other creditors		 2025
£
17,354
7,507
5,772
1,940
20,848
6,834		 2024
£
7,516
2,126
2,823
1,760
10,219
5,931
60,255 30,375
2025
£
(28)
1,449
1,421
2024
£
291
17,741
18,032
2025
£
37,465
352,106
146,261
-
4,653
6,303
9,774
556,563		 2024
£
(122)
3,029
2,907
2023
£
83
10,690
10,773
2024
£
33,292
265,585
89,317
480
5,586
6,791
4,037
405,088

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

11. Creditors (continued)

Due after more than one year:
Repayments due on loan from group entity		 2024
£
371,449
371,449		 2023
£
409,409
409,409

Please also see further information on the William Jones’s Schools Foundation Loan in note 12. Further information on the Orchard Homes Loan is shown in note 13.

12. Loan from William Jones’s Schools Foundation

Loan value at 1 April
Repayments made during the year
Loan value at 31 March
Due within one year
Due after more than one year		 2025
£
480
(480)
-
-
-
-		 2024
£
1,440
(960)
480
480
-
480

13. Loan from Orchard Homes

Orchard Homes is a wholly owned subsidiary of Bristol Charities whose main objective is to provide almshouse accommodation for poor persons resident in the City of Bristol.

Orchard Homes has agreed to lend to William Jones’s Almshouse Charity up to £750,000.

Interest is charged on the outstanding balance, compounded monthly, at an interest rate of 2.73% above the annual Bank of England base rate. The loan term is 21 years from 1 August 2012.

Loan value at 1 April
Interest charged
Repayments made during the year
Loan value at 31 March
Due within one year
Due after more than one year		 2025
£
442,701
32,808
(66,595)
408,914
37,465
371,449
408,914		 2024
£
473,851
35,599
(66,749)
442,701
33,292
409,409
442,701

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

14. Related party transactions

The charity has taken advantage of the exemption under FRS 102 Section 33 not to disclose transactions with charities, 100% of whose voting rights are wholly controlled within Bristol Charities.

There were no other related party transactions with the charity.

15. Statement of funds

Unrestricted funds
Designated funds
Restricted funds
Endowment funds
Unrestricted funds
Designated funds
Restricted funds
Endowment funds		 Balance at
Balance at
1 April
Transfers
31 March
2024
Income
Expenditure
and gains
2025
£
£
£
£
£
(3,480)
240,366
(289,334)
(249)
(52,697)
9,989
235
-
1,140
11,364
10,682
4,073
(2,462)
-
12,293
1,054,317
-
(24,430)
-
1,029,887
1,071,508
244,674
(316,226)
891
1,000,847
Balance at
Balance at
1 April
Transfers
31 March
2023
Income
Expenditure
and gains
2024
£
£
£
£
£
58,701
220,714
(283,764)
868
(3,482)
8,485
360
-
1,144
9,989
9,321
4,056
(2,695)
-
10,682
1,078,747
-
(24,430)
-
1,054,317
1,155,254
225,129
(310,889)
2,012
1,071,506

Unrestricted funds have no restrictions and can be used for any class of expenditure.

The deficit on unrestricted funds is temporary and has been caused by unusually high levels of maintenance over the current and previous year, along with interest payable on group borrowing and internal management charges payable to group companies. The trustee is taking steps to reverse the deficit, including the refinancing of group debt, and is confident that unrestricted funds will return to surplus in the coming years.

Designated funds represent unrestricted funds which the Trustee has earmarked for specific purposes, in this instance sinking funds to meet the cost of future major cyclical maintenance of the shared common parts.

Restricted funds represent leasehold sinking funds held to cover major future repairs on shared areas of £11,364 (2024: £9,837) less money owing in relation to a surplus on leasehold service charges of £682 (2024: £845 owed).

Endowment funds are in respect of the almshouse housing properties.

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William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

15. Analysis of net assets between funds

At 31 March 2025
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors due after
more than one year
At 31 March 2024
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors due after
more than one year		 Unrestricted
Restricted
Endowment
funds
funds
funds
Total
£
£
£
£
758,507
-
1,029,887
1,788,394
60,255
-
-
60,255
67,918
12,293
-
80,210
(556,563)
-
-
(556,563)
(371,449)
-
-
(371,449)
(41,333)
12,293
1,029,887
1,000,847
Unrestricted
Restricted
Endowment
funds
funds
funds
Total
£
£
£
£
702,278
-
1,054,317
1,756,595
30,375
-
-
30,375
88,353
10,682
-
99,035
(405,087)
-
-
(405,087)
(409,409)
-
-
(409,409)
6,510
10,682
1,054,317
1,071,509

16. Independent examiner’s fees

The Independent Examiner’s fees were £3,420 (2024: £3,420), of which £180 (2024: £180) was allocated to the service charges for the private householders.

17. Staff costs

Bristol Charities employed Scheme Support Coordinators and a cleaner at William Jones’s Almshouse Charity. The employees’ salaries, national insurance contributions and pension contributions were charged to William Jones’s Almshouse Charity. Staff costs also include an allocation of Bristol Charities’ other housing staff team members.

The total staff costs during the year, including training and recruitment costs, were £34,541 (2024: £23,526).

18. Trustee remuneration and expenses

No remuneration or expenses were paid by William Jones’s Almshouse Charity to the Trustee during the year, or the prior year.

19. Financial commitments

On 1 April 2025 the Bristol Charities group entered into a 12-month contract for Facilities Management Services following the completion of a prior 12-month contract. William Jones’s Almshouse Charity’s contractual commitment at 31 March 2025 was £7,628 (2024: £7,628).

19 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2025

20. Ultimate controlling party

Ultimate control over the entity is held by Bristol Charities as sole Trustee of William Jones’s Almshouse Charity. Bristol Charities’ charity registration number is 1109141 and its Company registration number is 05402303.

Bristol Charities’ principal purposes are the provision of almshouse accommodation and a Grants program to individuals and institutions. A copy of Bristol Charities’ consolidated group accounts, which include the William Jones’s Almshouse Charity results, can be found on the Bristol Charities website.

21. Statement of Financial Activities – prior year

Income and Endowments
Charitable activities
Investment income
Other incoming resources
Total
Expenditure on
Charitable activities
Other expenditure
Total
Losses on investments
Net expenditure
Gross transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Fund balances carried forward		 Unrestricted
Funds
£
219,445
1,424
206
221,075
283,764
-
283,764
2,012
(60,677)
-
(60,677)
67,186
6,509		 Restricted
Funds
£
-
208
3,848
4,056
180
2,515
2,695
-
1,361
-
1,361
9,321
10,682		 Endowment
Funds
£
-
-
-
-
24,430
-
24,430
-
(24,430)
-
(24,430)
1,078,747
1,054,317		 Total
Total
2024
2023
£
£
219,445
205,674
1,632
293
4,054
4,586
225,131
210,553
308,374
335,256
2,515
4,931
310,889
340,187
2,012
(771)
(83,746)
(130,406)
-
-
(83,746)
(130,406)
1,155,254
1,285,660
1,071,508
1,155,254

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