"stntion Number 23 ER2 ONTE Trustees. Annual Report Independent Examiner's Report Re￿Ipts and Payments A¢xount statement of Assets and Liabilities CHARTERED AC UNTAN Registered Chadty No 231021 Reglstered Address clo Rosehlll Advlso 13 Gla*house 5tJ0los Fryem Cuurt Road Fard'r.gbridge Har￿￿￿lre SP6 IQX Trustees Mr Philip Chiwll Nomlnated by Parnphlll & Shap¥Ylck Pansh Council Mr Joiatian Cutts Nomliated by Hjlt Parish Coundl lappolnteJ l June 2023) Mrs Sus2n Fmst N?mliated by qolt l¥r15h ￿n￿l {r￿l￿ned 31 May 20231 air Apn tiaber -r..'-3ted by W".mbome MlnsEerTown Counal Shldey Kerfey Co-OQted ILnt I September 20261 Dr Jajie Flen Ce-OPLEd (LIYI V.2rh 20251 Mr Ge¢ffvey Hann Co-wtd iundl v.a￿ 20261 Mr Nitrolas Lock lundl Mam 20261 Clerk to the Trustees Mr D Pa.￿Oe clo Rose4111 Advisor5 Independent Examiner N A Halls Fletther & Partners Crown Chatrber5 Brfdge Street Sal'stury wirshlre SPI 2LZ Lond Agents Rosehlll Ad￿$0*￿ 13 G'as5hw* StudlD5 Fryern Cuurt Road Fort..ngbidge Hampshlre SP6 IQX Solicitu M5 S Russell Wilsans Solicitor5 Alexandra Hou 5t Johns 5tree- 58lisbJry 'IItsPlre SPI 25B Banke 1-2 High West street Oorche*.er DTL ILIG LEGAL STATUS The Sl Margaret's and Stone's Charfty is (Jnstitured and regulated by the ChaAty Commis*one￿ Stheme dated 31 Nay 1989, whlch amalgamated the followlng charltles.. • st Margaret's Hospltsl W11113m Stone's Charity Ifoundee by Wl'.I dated t? Yay IS65) Glllingham's Alm_£houw (regulated by Charty CsmTr,;'ssienets Stheme of 17 July 19741 Pamphlll AlmshoJses Co31 Trust {regulated -y the Cnarsty ComtlliSsoner5 Sthefflp of 17 Ju'y 19741, an￿ the Ctrédty Commi*ioners Schemes dated IS Marc? 1993. 21 March 1997. 30 Au-ust 2000 and IB January 2007. In June 2006, under a scheme approved by the Charfty Comrnisaon dated S January 2006, Studland AlmshoLJses were transferred to St Maroarts and stone'5 tharity. These were In 2010 and the prO￿ed5 Invested. The Charfty Tnjstees dudng the year to 31 Decernber 2023 were apFX)intred a5 rk*ed above. AIMS AND ORGANISATION The Dbiett of the ch8rlty is to prts￿de affo￿able accommad3llon for needy r*red Fersons frorn the a￿0 of beneftt. the town of Wlmborne Mlnster, tr￿e parlsh of Paw.phlll & Siapwi£k, tk.e Jartsh of Holt. part of the par.57 of Colehlll, tnd the ptrtsh of Studland. There a-, e now 16 unit5 of 6ccotnmodation. Tr.e reg.dents contr.byte B wee￿Y amgun- towards the rn4inten4nce of the almshouse propertyes. Other lano a4d bu'.Idl.Igs are held as fridcwrier.ts end are .et to provlde 8ddlbonal Incow.e for the charlty. The Trustees normally meet at least twi"e a year. .1C￿ co-op=ed truste￿ aro tÈtrurted on the re£ommÈndation of the Éxithng body of trusteÈs. In exera51ng their pawer5 Qr ￿￿e5. the Tr￿ee5 have complied Iheir duty to have due regard to the guldance pub115hed by the Chartty ComrnlsslJn publlc benefit. XNVEsfMENT POWERS The truste￿ shall let and otherwlse manage all tr.e lands belonolnG to the tharlty not requlred to be retalned or occupled for charitable purpBse5. The Trustee Att 2000 applie5 Effett from l February 2001. RESERVES POLICY The charfty's pol."cy 15 to allow the reserve5 to build u? ur.tii the fuT￿5 held 4? of a that when sold they generate enough nds to purchase another clmshouse pmperty. Surplus li Invested in M&G Cha*fund aecdmdlation u*￿. The unrÈstritted bjnd held 237.788 units at a tost tsf £56.487 a: the #èrt -f the year and 50.337 units weTÈ sold dunno the year, thu5, at the end o". the yeor the unrestrlcted fund he'.d a totsl of 187.4i- units at a total cost of £44,529.70 and a arket value of £56.229.23. In 2020 the Trustee5 a￿￿ed not to tnake further .'nvestrnents into the M&G EquiUes Investment Find for Charities Icharrfundl for the ForE5eeable lrture due to the turbJlence in the stock market due to the COVID-19 pandemlc. The Trustees are stil" waiting for the W￿ulence cal￿￿ by thls and other facrors tr settle down. REVIEW OF PROGRESS AND ACHIEVEMEKrs The c.)arlty provlded accom￿.0￿8t￿on for 2" alm5 people In 16 Cottages during the year. Expenditure on repair work and redecoration exceeGed budyet th"'s year as one a￿￿1 hoJ5e arnd two invest￿ent propert1￿ fell vacant dufing tyls financial year, all of whlch requlred rp.furt)Ishment works to bdng thery. to a modeTr, st?nknard for ne￿ res.'dents and Lenarts, In ad¢.Itlon, some reiatrvely Ya'or extemal werks were ur.dertaken on-ie In¥￿t.￿ent p.tperits Yrfhid) had been delayed previous yeats dLe kn lod(dowrL%, poor ww.her laok o.. wcrkforce. ReJa.'r5 C05Ung É31.029 were ur.dertaken to varlous 4lm5hou5es In the year. Repairs c05tlno £37,443 were undertaken to tiie Investmer.t prorertes durfng the year. The Charity continue5 to rnDnitor heating costs in the altn5hoLse5 to see wb"Ih tnetkod of heating is the ttK)5t efflclent and c05t effective. Modern night storage heaters were =hosen for the re￿r01￿.Ment Lndertaken thls year. A very long-standlng almshouse reslder.t movec Into a ca* h-me dLfinG year. and Trn*tses took the opportunity to refutbish the cob anc thatcF.ed property prior to appointsn5 a new This ptDperty had not had any rnaintenance work undettoken on It Since 1984, $0 a frJll sctr.edule o.. upgTrding woT*s was necessary* ificluding some liw* p13Stering, install',ng pressurised F.ot water system, nev¢ storage heaters, loft. insulatto*. *mDval of a tsa￿ and rÈplacÈmÈnt of all bathroom fittlngs to Include 8 shower, partial r2wlring 2nd installlng new kitthen fi*ngs ar.d carpets. The works ￿st a total of E24.555 In thls current year Iwkn futhe-. charges to cornel and thls wa5 Put down to capltal Srnprovements. The renalnlng costs of £19,265 fro[￿ the refurbishment 5ta.ted in the prewau5 year was &1so itKJuded in £apitai Irr.prvvements. The new car 3rea qt the a1rn5hou5es w?s cornpleted and is much aFpreciate(I by'ie rwidents and thelr guests. AcC￿S for emeryency vehides to the centre of the Cite is much improved. The reluced garteo slzes to almshouses 4 and 5, vthich accomtnodatÈd the tar Fark extension, have F￿Ved to be muth fflore tnènageable by the residents. An updated relnstatement cost assessment ￿a$ required In accordance w'.th the terrns of the Charfty's NFU Insurnnce pollcy on the following properbes.. Tr.e Chapel- nurnbe￿ 1, 6. 7. 8, 9 St Nargaret's Hill- nurnber5 Ba & Bb West Row and numbers 8, 9, 10, 11, L2, 123 & 14 W￿t street, WIM￿rne. This valuation was corHlucted by an independeni valuer and ￿SU[ted In an upllft the property Insurance premlum of É85.08. É15,000 was drawn down from the M&G Charifund to contAbfft towards the cost of the tÈfiJrbishment ￿rkS to the vatant almshouse and the external worf