TE Trustees. Annual Report Independent Examiner's Report ReIpts and Payments Account ststement of Assets and Llabilities & PARTNER ARTE AUSBURY
Reolstered Chartty No 231021 Reglstered Addre55 lo Rusehlll Advlsors 13 Gla5shou5e Studios Fryem Court Road Ford1ngbdge V.ampshlre SP6 IQX Trustees Mr Philip Cb.Issell Nominated bv Parnphill & Shapwick Pat1sh Counc41 Mr Junathan Cults Nomlnated by Hdt Pdrish Counal Cllr Ann Roberts Notninated by Ivlmborne MlnsterTown Coundl Mr5 ShSdey Kerley Co-opted lunUI SeptetnbEr 20261 Dr Jane Frleod Ctropted {vnUI Narch 20251 Mr Geoffrey Hann Ctropted lundl Marth 20261 Mr Nicholas Lock opted (untll Natth 20261 Clerk to the Tmstees Mr D Pardoe clo Rosehill Adws¢)rs Independent trdmln Mrs N A Halls Fletcher & Partyiers Crown Cbarnbet5 Brldge Street Sallsbury Wllt5hire SPI 2LZ Land Agents RosehS11 Advfso. 13 GlasshDLtse sd10s Fryern CA)Urt Fordlngbrtdge Hampshlre SP6 IQX Sollcltor5 Ms S Russell WilsOr Solidto Alexatsdra House St lohns Street Sallsbury Wlltshlre SPI 25B B4nker5 Lloyds Bank 1-2 Hlgh West Street Dorchester DTI IUG LEGAL STATUS The St marFet'S and Stone's Chartty 15 cDruLed atvj rEgulated by the Cthartty CA)ttlmi551oner5 Schetne datsd 31 May 1989, whlch atnalgatnated the ft>llDvAng tharitie5'. st Margaret's Hospital William Stone'5 Chafflty (founded by Wlll dated 12 May 16851 Gilllngham's AlmsFw)uses Irrful6ted by the Charity cotntni5Str5 Scheme of 17 July 19741 Pamphll.. AJfflshouse5 Coal Trust (regulated by the Charity QMmI55er5 Scher4e of 17 July 1974), and the Charfty Commls51onets Sthew*s dated 16 Marth 1993. 21 March 1997. 30 August 2000 and 18 January 2007. ln June 2006, under a scheme approved by the tharity ComMts0n dated 5 January 2006. Studland Almshouses were transferred to St Maryat'S and Stone's tharfty. These wÈrÈ SDld Ill 2010 and the pr¢>ceeds Invested. The Chartty Tru5tee5 dudng the yearto 31 December 2024 wwe appolnted a5 n¢)ted above.
AIM5 AND ORGANISATION The object of the Charlty Is to provlde affordable accornrnodatw)n for dY retlred persons frorn the arEO of bEnefit.. town of Wlmbome Mlnster, the parish of Pamphill & Shapwid(, the of Holt. part of the parish of Colehill, and the parlsh of Studland. There are now 16 units of accommodation. T.e residents ¢ontriiNJte a weekly amount toward5 the maintenance of the almshouse propertles. Ot.er land and bulld5r.gs ère .eld as endo¥Y.ments and are let to provide additiDnal income for the chaNty, The Trustees .iormally meet at least hyice a year. New (v-opted tru5tee5 afE wulted on the recornTr.end4bon of the exlsting body of frustÈes. In exerc15ing thelr PDwers or dudes, the Trustee5 have complieLI wlth tIEir duty to have due ward to the guldance publlshed by the CharfLy Cotnmi551on on publlc benefiL INVESTMENT POWERS The trustees shall let and otherwlse manage all the lands belorwjing to the charity mt requlred to be retslrEd or occupled for haritable purposos. The T.liStee Act 2000 applles wlth effect from l February 2001. RESERVES POLICY The charity's policy is to allow the resetves to build up until the fun65 held are of a glze that when sold they generate enough funds to purchase another almshouse property. Surp5u5 cash 15 Invesed In M&G Charifund accumuL4tlon Jnits. The unrestricted fund held 187.451 unlts al a cost of £44,530 at the siart. of the year and 60.458 unlts were purchased durlng the year at a cost of £20,000. tlus, at the end ef bhe year the L'nrestricted fund a total of 247.909 units at a total cost of £64,530 and a market value of £81,064. In 2024, the Trustees agiyed to re5tsrt -inVeS9 surplus monles Into the M&G Equit1 Investment Fund for CharftSes Icharlfund), herKe the £20,000 PL'rchase of uiits. REVIEW OF PROGRESS AND ACHIEVEMENTS The charity pmvlded accommodauon for 21 alrns people in 16 cottage5 during the year. Expenditure on repalr work and redetoration was bclow budget this year as although one almshouse be(zme vacant during thi5 finanEial year,. none qUred $1gnlficant work. Repalrs ¢ostlng É27.246 were undertaken to varfous alrnshouse5 In the year {¢arriwJ over from the prevlous During 2024, an alm5hotse became vacant and as it was In good ConditTr. there wè5 a minlrnal Yoid perlod before a new resident was appolnted. However, flndlThJ new re51dents for two-storey properties wff(h steep Stairse5 rernain5 difficult. The Charlty continues to monitor heating costs in the almshouses to astrrtain the m05t efficient and c05t-effettive method of he#t£ng. The Charity has swlt¢hed utillty company suppllers for the':r own supplSes. to obtsin a more beneficial 5tandlng ¢haroe for low use of elettriciiy ènd gas. The new car parking area at the èlmshouses ConnueS to be a success and Is much appredated by the residents and thelr guests. Four investment properties had vold periods durlng the year. These were re-let through a thlrd-party lettiry agent who undertook ferernce5 etc. At one property, an ap.r.Jal rent guarant In5ura0 was taken OLrt at 8 premium of £420. it subsequently and unexpectedly beome'abandoii ed. by the 4enar.ts mid-temi, leaving rent arrears ayd 50tne tpinor rEtDedial WO belng requSred. The deposit was retalned to cover the c05t of these medIa1 work5 and a claitn has been submitted to the Insurance company for loss of rent. Repairs ctIng É20,754 Uertaken to the investrnent propertie5 during the year. E20,000 was Invested in the M&G Charifund. AcfiviTIES AND AFFAIRS The annual accounts have been prepared on the 'ReIPts and Payments. basis aTrJ comply with the requirements of 5133 uf the Charit1 Att 2011, The charity'5 total reiptS were £166,500 for the year. indutling residents. (Jntribvbons of £53,039. and Investhiet)t Income of £111,123. Total payment5 were £148,813. Charitable arti¥Ie$ cost E48.828, ffjanagement and adrninistration costs YJere £57,919 of which £20,754 related to mlnor repair5 redecoration to vericu5 iDve5tEP.ent properbe5. A further £22,066 tv finish the 9, St Margaret's refurbishrnent was capitolised. During the year £20,000 was invested iy the unrestritted fund held In M&G Charlfund un4ts. The charity'5 cash resource5 increased by £17,687 durlng the year. Investment assets increased overdll by É109,843 of which the Insured value of investment propertles increased in value by £47,592 and the investtnent in the M & G Charlfund accumulatlon unlts firreaSed by £42.251. The trustees consldÈr the charity's financlal txJsiUtsn to be satisPdttOry. The trustee5 ry)nfirrn that the account5 ¢J)mpty with the qU1ments of the Charities Att 2011. Approved on behalf of the ustees and slgned by: Lo¢ , Clirman and Trustee Dote.. 26 March 2025
Independent examlner's report to the trnstees of The Y< Margarevs and StoDe'5 Charlty I report to the twstees on my examlnat(on of the accounts of The St Mar9areV5 ar¥J Stone's Charity lth Chartyl for the year endal 31 December 2024. which are set out on pwes 4 to 7. Re&pon8lbllltles and bas18 of report the charity trustees of the Charity you are re5POn5ible fvr the pratfj)n of the accounts In accordance wlth the requlrernents of the tharitles Act 2011Cthe Acr. I report in respett of my examinatiort of the Charty's acc(MJP.ts canled ovt under secuon 145 of the 2011 Act and in carying aut tny examinatlon I have follosved all the appllcable DIJECtSons glven by the Charity Cornmisslon under section 145(5)(bi of the Att. Xndependent exomlner's statement I have completed my examlnation. I confimi that m Material makters Ib3ve corne to my attention in cDnnecUon with the examinatlon givlng me cause to belleve that in any material respect.. ILI accoUnng records were Tr)t kept in respert of the Charity as required by sexion 130 of the Act.. or (21 the accounts do not accord with those record5. I have no cOrrn5 and have Eotne acTrs5 fK> Other Matt in conne£tion with Y)e eMInatIon tr) whlth attention shoul¢ be drawn ID thls retxjrt In to a pper uThJerstandlng of the accounts to be Slgned.. Name.. Nicola A Halls Relevant professional quallficatson or trmber5hip of profes5itsnal body-. FCA Address.. Flet¢f*r & Partner5. Crown arnber5, Brfdge Street, Salisbury SPI 2LZ Date..
Tota RECEIPT$ Resldents. COntbuonS St Margayevs Almshouses Rental fro.w Investment propertles Donayons Grazlng rlghts Renewable heat Innve stheme 53.039 111,J23 51 li 53,039 111.123 51 li 46,824 109,252 223 166,500 L66,500 159,285 15,000 Sale of Investments TOTAL RECEIPTS 166,500 166,500 174,285 PAYMENTS Charltable Artlvliy: Repalr5 improvements to alhoUse51chOpel Gardenlng Water Insutyno OF alm5house5 Televlslen Ilcences Christm6s presents for alrDspeople (2023: 2 years) Ufe41ne monltorino Advertising vacant property Subscptn to The Amshouse Association 27.246 5.020 3,868 7,617 45 800 3,350 353 529 27,246 5,020 3.868 7,617 45 800 3.350 353 529 31,029 6,001 6,799 3,B2L 15 1,550 2,008 58 407 4B,828 48,828 51,688 Manauement and Admlni&tratiott: Repalrs and improvernents to Investment propertles Insurance of inv't properties 6nd tru5tee5' Insuran Landlord's and Chapel elecirlcity Landlord's Servitr charges - Beaufort Cotta9e Land agent's fees for rnanaglng propertye5 Profe55ion31 fees in connecbon wlth revalulng propee$ for insurance Professlonal fees for lettlng of propert*s Accountancy and independent examination Bank charges Sundry char9es 20.7 5,854 1,730 321 20.649 20,754 5,854 1,730 321 20,649 37,443 7,350 1,369 312 18,072 3,954 5.332 3,030 249 5,332 3,030 249 2,820 243 477 57.919 57,919 72,040 Sub-total 106,747 106,747 123,728 OTHER PAYMENTS.. Purchase OF Investrnents Capital expendlture on refurbi5hrnent of Investrnent prDpertJe5 Capital expEnditure on car park Capltal expendlture on refurblshment of St Mètgaret's 20.000 20,000 6,789 27,080 42,066 42,066 77,209 TOTAL PAYMENTS: 148,813 148.813 200,937 NET RÈCEIPTS I (PAYMENTS) FOR TME YEAR 17.687 17,687 126,6521 Conttnud on pe 5
Pa NET (PAYME5) / RECEIPTS FOR THE YEAR 17,687 126,652) BANK BALANCES AT 31 DECEMBER 2023 17,502 44,154 BANK BALANCES AT 31 DECEMBER 2024 £ 35,189 17,502 Approved by the Trustees on- 26 March 2025 and slgned on thelr behalf by NMLock Tnjstee
Curent account 35,188.38 17.501.57 ET Residen:s' cor.td)uUons/houslng benefit arrears Investment yoperiies contrliu¥ons PrepayrEnt- Insurance etc. Renewable heat'ncentyve xberne Deposlt to refunded t" Ll West Street Ufdlne credlt receSved afrer date 83.03 2.617.IMJ 4.672.29 247.00 1.500. 510.24 I,D87.71 3.601.47 235.00 £9,629.56 £5,124.18 LXABILITIES: AccouTrtaicy / independert exam1rOn ac£rual EDHA Lifeline MDnitortng Larbd agent5. fees December 2024 Trade credltors 81 accruals Watw & sewernge Light and heat Bank fflarge5 G8rder,In4 Invesment rKoper.y repalrs Repalrs to ?Imsk,ouse$ 3nd thapd Re51dents' cor.tnJubons received in advance XeDtal for Investment properties reTrived In advan 3.270. 1.556.36 1.705.79 3.030,00 1,053,72 1,512.00 1.207.07 97.00 2,270.00 439.47 2J.10 210.(rfJ 3.144.58 26.659.38 651.36 4,876,46 1.376.97 4,682.36 114.105.55 £43,658.07 Properues held for Investment Wr)se$ and belgIrj to the pant Endment Fund: P¥ valLatyon c(mp]eted 1.1 year Iuran Valuadon Fre2hold Prperes.. No 8 West Street. Wltnborie No 9 West Street, Wlmbone No 12 West Street. Wlmborne 1.179.234. 412.423.00 76,557.LKI 1.146,000.00 400,800.LX) 74,4QO.00 No 10 West Street, Wimborne NO li west 5trtct, wimborno No 12A West Stre*., Wlmbome 140 14 West Street, Wlmborne 411,188.00 440,823.DO 429,710.00 4Z6 006.00 399,6M.00 428,400.00 417.600.00 £3.375,941.00 E3.280,800.(XJ Cofflmon ghts.. Hlnton & Wllsfftr- one quarcer bea# grazlng rfgfrt These Investment wopertie5 were revalued during the p[auS year by Barrett Corp Harrington on 11 Ortob2r 2023, the valuabons used In the accounts tr De. 2024 are thcse suprASed by tre NFU as part o". theSr Insurance valuadon. bl Properties held for inv¥tsnent PJry and belonglrKJ kn the UntEkntted Fund: InraThce Valuation Irtsurance valuaon Beaufort Cotta1 23 West Street, Wlmborne 404 360.OD 451 gD9.00 ThE West street pmpertles vR"e gted to St Margarets by wiiiiam SLDne pre L800. Fo.'loMng a major repalrand ImprovemenL programne over the last 15 year5 the pr¢pertJes a In a oood state tsf repair. eaufort Coyaoe Yéas purthased 11 2014. the purchase bdng Ilnanced by the sale (rf accumulauon unlts fmm the UreSe Investment in the M&G aDfUn- The EqJ".Ues Irvestment Fund forcharftyts. Th15 Inves:ment property was rev?lued the previous yeer tsarrett Corp ya.Igt0n on 11 October 2023, but the veluaOn used In 2024 Is that sumlied by the NFU as part of thr Ir6urdntr valuatycMI.
AND STON ATE UTIES I DECEMBER 20 b) Market value Market value M&G chafnd The Eouities Investment Fund for Chartties 247.909 accumulatlon unlt5 12023- 187.451 aceumulabon unts) £81,063.89 £56,229.23 Cost £64,531 12023 - £44,530) Market value Market value M&G Charifund The Equltles Investment Fund for Charfdes 1384.611 accumulatlon unlts12023- 1384.611 unwsl £452,754.64 £415.338.44 Cost £194.32312023 - £194.3231 For use by the charity and belonging to the Permanpmt Endowment Fund.. Insurance Valuation Insurance Valuatlon Freehold Properties: standard construrtlon.. No's 1, 2 & 3 St Margèreys & Stone's Almshouses No's 4 & S St Margaret's & Stone's Almshouses No's 12 & 13 St Margaret'5 & Stone s Almshouses No's 14 & 15 st Margaret's & Stone s Almshouses No's 16 & 17 st Margaret's & Stone's Almshouses Thatched.. No's 6, 7 & 8 st Margaret's & Stone's Alm5hous£ No 9 St Margèret's & Stone's Almshouses No lolll St Margarevs & Stone's Almshouses 841,378.00 374,647.00 360,436.00 391,441.00 466 372.OD 900,715.00 418,702.00 402,819.00 437,471.00 521 213.00 779,157.00 274.125.00 291 966.00 757,200.DO 266,400.00 326 298.00 Chapel at St Margaret's & Stone's Almshouses 444,528.00 432,000.DO £4,224,050.00 £4,462,818.00 The Almshouse properbes No. I to No. 15 have belonged to the charfty slnce at least 1660. The construction of the new properttes No. 16 and No. 17 was completed in 2008. In 2023 propee5 1, 6, 7, 8 and 9 St MargareV5 were valued a5 per the valuation by Barrptt Corp Harrington as at 11 October 2023 and the remaining propetties were valued as per the Insurance portfollo In Aprll 2023. In 2024 the properties are valued as per the NFU insufdnce breakdown supplied by NFU for this purpose. AY EES: During the year expenses of £NII (2023 . £Nill were pald to the Trnees.