2025-12-31-accounts

THE ST MARGARET'S TONE'S CHARITY

Charity RegistrationNu 4021

STATEMENT OF ACCOUNTS ; FOR THE YEAR ENDED 31 DECEMBER 2025

CONTENTS

Page

• 1.-2. Trustees’ Annual Report

• Independent Examiner's Report

• 4,-5. Receipts and Payments.Account

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• 6.-7, Statement of Assets and Liabilities

FLETCHER & PARTNER.

CHARTERED ACCOUNTANTS

SALISBURY

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THE ST MARGARET'S AND STONE'S CHARITY

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

Registered Charity No	:	231021
Registered Address	:	c/o Rosehill Advisors
		13 Glasshouse Studios
		Fryern Court Road
		Fordingbridge
		Hampshire
		SP6 1QX
Trustees	:	Mr Philip Chissell	Nominated by Pamphill & Shapwick Parish Council
		Mr Jonathan Cutts	Nominated by Holt Parish Council (Chair wef March 2026)
		CilrAnn Roberts	Nominated	by Wimborne MinsterTown Council (re-appointed to May 2029)
		Mrs Shirley Kerley	Co-opted	(until September 2026}
		Dr Jane Friend	Co-opted	(until March 2026)
		Mr Geoffrey Hann	Co-opted	(until March 2026)
		Mr Nicholas Lock	Co-opted	(Chair and trustee to March 2026)
Clerk to the Trustees	:	Mr D Pardoe
		c/o Rosehill Advisors
Independent Examiner	:	Mrs N A Halls
		Fletcher & Partners
		Crown Chambers
		Bridge Street
		Salisbury
		Wiltshire
		SP1 2LZ
Land Agents	:	Rosehill Advisors
		13 Glasshouse Studios
		Fryern Court Road
		Fordingbridge
		Hampshire
		SP6 10X
Solicitors	:	Ms N Lowe
		HG Watker Solicitors
		Grenville House
		30 West Borough
		Wimborne
		Dorset
		BH21 1NF
Bankers	:	Lloyds Bank
		1-2 High West Street
		Dorchester
		DT11UG

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LEGAL STATUS

The St Margaret's and Stone's Charity is constituted and regulated by the Charity Commissioners Scheme dated 31 May 1989, which amalgamated the following charities:

@ St Margaret's Hospital ® Wiiliam Stone's Charity (founded by Will dated 12 May 1685)

@ Gillingham's Almshouses (regulated by the Charity Commissioners Scheme of 17 July 1974)

® Pamphill Almshouses Coal Trust (regulated by the Charity Commissioners Scheme of 17 July 1974), and the Charity Commissioners Schemes dated 16 March 1993, 21 March 1997, 30 August 2000 and 18 January 2007.

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In June 2006, under a scheme approved by the Charity Commission dated 5 January 2006, Studland Almshouses were transferred to St Margaret's and Stone's Charity. These were sold in 2010 and the proceeds invested.

The Charity Trustees during the year to 31 December 2025 were appointed as noted above.

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THEMARGARET'SST AND STONE'S CHARITY. TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (continued)

AIMS AND ORGANISATION

The object of the charity is to provide affordable accommodation for needy retired persons from the area of benefit; the town of Wimborne Minster, the parish of Pamphill & Shapwick, the parish of Holt, part of the parish of Colehill, and the parish of Studland. There are now 16 units of accommodation. The residents contribute a weekly amount towards the maintenance of the almshouse properties, Other land and buildings are held as endowments and are let to provide additional Income for the charity. The Trustees normally meet at least twice a year. New co-opted (or appointed) trustees are recruited on the recommendation of the existing beady of trustees and In accordance with thelr existing policies,

In exercising their powers or duties, the Trustees have complied with their duty to have due regard to the guidance published by the Charity Commission on pubilc benefit.

INVESTMENT POWERS

The trustees shall let and otherwise manage all the lands belonging to the charity not required to be retained or occupied far charitable purposes. The Trustee Act 2000 applies with effect from 1 February 2001,

RESERVES POLICY

The charity's policy Is to allow the reserves to build up until the funds held are of a size that when sold they generate enough funds to purchase another property. Surplus cash Is Invested In M&G Charifund accumulation units. The unrestricted fund held 247.909 units at a cost of £64,530 at the start of the year and 61.951 units were purchased during the year at a cost of £20,000, thus, at the end of the year the unrestricted fund held a total of 309.860 units at a total cost of £84,530 and a market value of £126,239,

REVIEW OF PROGRESS AND ACHIEVEMENTS

The charity provided accommodation for 21 alms peaple In 16 cottages during the year. Expenditure on repair work and redecoration was, ayain, below budget this year as no almshouse became vacant during this financial year. Demand for the single storey almshouses remains strong. It is becoming more difficult to find new residents for the two storey properties with steep stalrcases. Applications for almshouses are submitted and held by the Charity’s agents.

The Charity continues to monitor heating costs in the almshouses to ascertain the most efficient and cost-effective method of heating. Consideratian is given to MEES regulations when Installing replacement heating appllances, One investment property was void during part of 2024-2025, and was re-let early 2025 through a third<party letting agent who undertoak references, etc. During 2025 the Charity received 100% of an Insurance claim for loss of rent on the samié void property, where it unexpectedly became ‘abandoned’ by the teriants mid-term, leaving rent arrears and some minor remedla! works being required.

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A commercial property served notice in 2025 to terminate their agreement with effect from 31 Decamber 2025, This property has beén re-let with effect from i January 2026, with no vold period.

Repairs costing £32,665 were undertaken to various almshouses In the year and £20,000 was Invested in the M&G Charifund.

ACTIVITIES AND AFFAIRS

The annual accounts have been preparad on the “Receipts and Payments” basis and cornply with the requirements of 133 of the Charities Act 2011.

The charity's total receipts were £188,309 for the year, including residents’ contributions of £53,291, and Investment Income of £132,647,

Total payments were £138,916, Charitable actlvities cost £54,466, management and administration costs were £64,450 During the year £20,000 was invested In the unrestricted fund held in M&G Charifund units.

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The charity's cash resources increased by £49,393 during the year. Investment assets Increased overall by £276,389 of which the insured value of investment properties increased in value by £139,867 and the investment in the M & G Charifund accumutatlon units increased by £136,522.

The trustees consider the charity's financial position to. be satisfactory. The trustees confirm that the accounts comply with the requirements of the Charities Act 2041,

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Appraved on behalf of the Trustees and signad by:
Ne _
Name: N Lock, Chairman and Trustee
Date: A S . 2
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T ’ ‘ T: : TY.

ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025

Independent examiner's report to the trustees of The St Margaret's and Stone's Charity

I report to the trustees on my examination of the accounts of The St Margaret's and Stone's Charity (the Charity) for the year ended 31 December 2025, which are set out an pages 4 to 7.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011¢‘the Act’),

T 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 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material 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 Act; or

(2) the accounts do nat accord with those records;

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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,

Signed; KXero Lo_ettaU_>

Name: Nicola A Halls

Relevant professional qualification or membership of professional body: FCA

Address: Fletcher & Partners, Crown Chambers, Bridge Street, Salisbury SPi 2L2

Date: Al Mgunin 2o2.f

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THE:

THE: ET'S AND STONE'S CHARITY RECEIPTSAND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Total|Total| |RECEIPTS|£|Restricted£|2025£|2024£| |Residents’|contributions|St|Margaret's|Almshouses|53,291|-|53,291|53,039| |Rental|from|Investment|properties|132,647|-|132,647|111,123| |Donations|-.|305|-|305|51| |Grazing|rights|14|”|14|11| |Renewable|heat|incentive|scheme|2,052|-|2,052|2,276| |TOTAL|RECEIPTS|188,309|-|188,309|166,500| |PAYMENTS| |Charitable|Activity:| |Repairs|and|improvements|to|almshouses/chapeél|32,665.|“|32,665|27,246| |Gardening|5,389|-|5,389|5,020| |Water|3,416|-|3,416|3,868| |Insurance|of|afmshouses|6,745|-|6,745|7,617| |Television.|licences|162|-|162|45| |Christmas|presents|for|almspeople|800|-|800|stele)| |:|Lifeline|monitoring|4,746|-|4,746|3,350| |Advertising|vacant|property|.|-|“|353| |Subscription|to|The|Almshouse|Association|543|~|543|529| |54,466|-|54,466|48,828| |Management|and|Administration:| |Repairs|and|improvements|to|investment|properties|26,530|-|26,530|20,754| |Insurance|of|Inv't|properties|and|trustees’|Insurance|4,616|-|4,616|5,854| |Council|tax,|water,|das|&|electricity|during|vacancy|117|-|117|-| |Landlord's|and|Chapel|electricity|758|-|758|1,730| |Landlord's|Service|charges|~|Beaufort|Cottage|“|-|“|321| |Land|agent's|fees|for|managing|properties|24,431|-|24,431|20,649| |Prafassional|survey|fees|and|reports|2,349|-|2,349|-| |Professional|fees|for|letting|of|properties|2,100|“|2,100|5,332| |Accountancy|and|independent|examination|3,270|-|3,270|3,030| |Bank|charges|139|-|139|249| |Sundry|charges|140|-|ida|-| |64,450|-|64,450|57,919| |Sub-total|118,916|-|118,916|106,747| |OTHER|PAYMENTS:| |Purchase|of|Investments|20,000|-|20,000|20,000| |Capital|expenditure|on|refurbishment|of|St|Margaret's|:|=|:|22,066| |20,0006|-|20,000|42,066| |TOTAL|PAYMENTS:|138,916|-|138,916|148,813| |NET|RECEIPTS|/|(PAYMENTS)|FOR THE|YEAR|49,393|-|49,393|17,687|

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Continued on page 5

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THE ST MARGARET'S AND STONE'S CHARITY

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025

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(Continued)
NET (PAYMENTS) / RECEIPTS FOR THE YEAR
BANK BALANCES AT 31 DECEMBER 2024
BANK BALANCES AT 31 DECEMBER 2025
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Approved by the Trustees on: aes naeaAS
and signed on their behalf by \ pe KON
N M Lock
Trustee
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(Continued) .
2025 2024
NET (PAYMENTS) / RECEIPTS FOR THE YEAR 49,393 17,687
BANK BALANCES AT 31 DECEMBER 2024 35,189 17,502
BANK BALANCES AT 31 DECEMBER 2025 £ 84,582 £ 35,189
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			THE ST MARGARET'S AND	THE ST MARGARET'S AND	STONE'S	CHARITY	:
			AS	AT 31 DECEMBER 2025
		CASH FUNDS: Currant account				2025 84,582.11	2024 35,188,38
		Commerclal Instant Account				2,100.00	-
				.		£86,682,14	£35,188,.38
					Ee		ARAN CN
		OTHER MONETARY ASSETS: Residents! contributlans/hausing benefit arrears				1.29	83,03
		Investment properties contributions				”	2,617.00
		Prepayment- insurance atc. Reénewabia heat ince tive scheme				5,699.00 253,	4,672.29 247 00
	:	Deposit to be refunded for 11 West Street				-	1,500,008
		Lifeline credit received after	date		_	bd	510,24	:
						£5,953,29	£9,629,56
					occ		=oe
		LIABILITIES:
:		Accountancy/ Independant examination accrual EDHA Lifeline Monitoring				3,432.00 2,243,80	3,270.00 1,556.36
		Land agents’ feas December	2025			2,348.81	1,705.79
		Trade creditors & accruals
		~ Water & sewerage				2,367,00	1,207.07
		» Light and heat				61,00	97,00
		TV Licance				204,50	-
		Gardening					210.00
		Insurance				3,619.26	-
		Repairs to almshouses and chapel				175.57	-
		Residents’ contributions recelved in advance				1,523.35	1,376.97
		Rental forinvestment properties racelved		in advance		5,996.88	4,682.36
		Commercial deposit				2,100.00	-
						£24,062.17	£14,105.55

Other cammercial deposits totalling £8,195.61 are held In 'MyDeposit, which Is managed by Rosenil, apart trom the deposit for 10 West Street of £1,148 which fs held In Symonds & Sampson's ‘The Tenancy Scheme’. This scheme {Is operated by The Dispute Service Limited, The deposit for 12 West Street is Included in the Habilitles note abave as a creditor as this is held tn a Lloyds bank account tn the name of St Margaret's and Stone's Charity and is inciudad in the cash note.

INVESTMENT ASSETS;

INVESTMENT ASSETS;			;
Properties held for Investment purposes and belonding to the Permanent Endowment Fund:
	Per vatuation	Insurance
Freehold Properties:	complated in year atApril 2025	Valuation at April2024
No 8 WestStreet, Wimborne	1,222,865,00	1,179,234.00
No 9 West Street, Wimborne	427,682.00	412,423.00
No 12 West Street, Wimborne	- 79,389,00	76,557,00
Noe 10 West Street, Wiriborne	426,401.00	411,188.00
No it West Street, Wimborne No 124 WestStreet, Wimborne	457,133.00 445,609,00	440,823.00 429,710.60
No 14 West Street, Wimborne	441,768.00	426,006,0'
	—-£3,500,847,00	£3,375,941.00
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a) Properties held for Investment purposes and belonding to the Permanent Endowment Fund:

Common Rights: Hinton & Pillsmoor - one quarter beast grazing right The valuations used in the accounts for December 2024 and 2025 are those supplied by the NFU as part of their insurance valuation,

hb} Properties held for Investment purposes and belonging te the Unrestricted Fund:

Insurance	Insurance
Valuation	Valuation
at April 2025	at April 2024
BeaufortCottage, 23 West Streat, Wimborne 419,321.00	404,360.00
The West Street propertieswere gifted to St Margaret's by Willlam Stone pre 1800, Fallowing a major repair and improvement programme over the last 15 years the properties are in a good state of repair,
Beaufort Cottage was purchased in 2014, the purchasé being financed by the saie of accufriulatton units from theunrastrictedinvestmentintheM&GCharifund-TheEquitiesInvestmentFundforCharitias,

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MARGARET'S AN TONE'S ° ENT SSETS z LITIES

AS AT. 31 DECEMBER 2025 (continued)

INVESTMENT ASSETS: (continued)

	b)	Unrestricted Fund
			Market value	Market value
		M&G Charifund -	2025	2024 :
		The Equities Investment Fund for Charities
		309,860 accumulation units (2024 ~ 247,909 accumulation units)	£126,239.32	£81,063,89
		Cost £84,530 (2024 - £64,531)
	¢)	Endowment Fund
			Market value	Market value
		M&G Charifund -	2025	2024
		The Equities Investrnent Fund for Charities
		1384,6114 accumulation units (2024 - 1384.611 unlts)	£564,101,04	£452,754.64
		Cost £194,323 (2024 - £194,323)
	FIXED	ASSETS FOR CHARITY'S OWN USE;
	a)	For use by the charity and belonging to the Permanent
		Endowment Fund:	Insurance	Insurance
			Valuation	Valuation
			at April 2025	at April 2024
		Freehold Properties:
		Standard construction:
		No's 1, 2 & 3 St Margaret's & Stone's Almshouses	872,508.00	841,378.00
	. :	No's 4 & 5 St Margaret's & Stone's Almshouses No's 12 & 13 St Margaret's & Stone's Almshouses	388,508.00 373,772.00	374,647.00 360,436.00-
		No's 14 & 15 St Margaret's & Stone's Almshouses	405,924.00	391,441.00
.		No's 16 & 17 St Margaret's & Stone's Almshouses	483,627.00	466,372.00
		Thatched:
		No's 6, 7 & 8 St Margaret's & Stone's Almshouses	807,984.00	779,157.00
		No 9 St Margaret's & Stone's Almshouses	284,267.00	274,125.00
		No 10/11 St Margaret’s & Stone's Almshouses	302,768.00	291,966.00
		Chapel at St Margaret's & Stone's Almshouses	460,975.00	444,528.00
			£4,380,333,.00	£4,224,050.00

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The Almshouse properties No. 1 to No. 15 have belonged to the charity since at least 1660, The construction of the new properties No, 16 and No. 17 was campleted in 2008.

In 2023 properties 1, 6, 7, 8 and 9 St Margaret's were valued as per the valuation by Barrett Corp Harrington as at 11 October 2023 and the rernaining properties were valued as per the insurance portfolio in April 2023. The properties are valued in 2024 and 2025 as per the NFU Insurance breakdown.

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PAYMENTS TO T ES:

During the year expenses of £Nil (2024 : ENil) were paid to the Trustees.