Charty rngistratlon numb•r 231087 DAWSON'S corrAGES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 DAWSON'S corrAGES LEGALANDADMINISTRATIVE INFORMATION Dr kl R McLean (freasuror) Mrs K Mcskimmi Mr P S IrKJ (Chwr) Dr J J IAthite MrsA McKenzi• Mrs I V Ew8rt (Pwointad 15 May 2023) Charlty nUM￿r 231087 Addrnu lor cormpond•nc• 84 Monlalb) Road 8amard Costle c¢￿nty Durham DL12 8BP Ind•pend8nt •x•mln•r Mr J YarrTh FCA Ajlen Sykes Llmiled 5 Hens￿ Close S(xth Church Enterwl8e Park Bi8hopAuckland Co Durham DL14 6WA DAWSON'S corrAGES CONTENTS ge Ind8p¥wJent examir*s rewt Stslement of financ1￿ aclivi118s Statemanl of finar#xl poslb. Notes lo the fin￿la1 statements 6-11 DAWSON'S corrAGES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Th8 trustees preswrt I￿rr anTh￿l rep¢Yl and finfmal slalem8nts for the year eTrYed 31 December 2023. The financlal $tatements hava teen prepared in accordance wth the accwrting polrde8 sel out In note 1 to the flnancial stslemenls and comply with th8 Charit￿ Act 2011 aThJ 'Accountfjng and RgFQrting by CharrtE5.' Slalemenl of Rgcommended Practice ￿)￿1¢8￿ to chanfies preparing tl*ir aetounts in accordance with the Fin•cial ReptsrtirKJ Standard awic8￿6 in the UK and Repul)b'c of Iieland IFRS 1021" leffective 1 January 20191. ObJoctlv8s and actlvlti The oblectives of the Charity ¥e'. The provS8lon ofAlm8houses in Bamard Caslle, Co. and Brough, Cumbria for of goc¥J characlgr up in years vtho are de8ervlng and of assistance. The trustees hav& paid due regard to guidance188￿d by Ihg Charity Commi880on ￿ pulllc benefft in decKling what actMtlo8 the charity $hould undert8ke. Achl•v•m•nt• and p•rfomwnc• During the year the Charity ha$ conlnued to provldeAmshw ￿Mnv)datl0n for Beneflciarfo¥ oftho Chgrlty. Fln•ncl•l r•vl•w During the year the Charity h*J Mantena￿ c￿tionS rKer¥abfe lotaHINJ £30.911. Th dwrlty genernlod surpluB of £20,885 dudn9 the yegr of which £7.155 was due to an ry)crèase In valu• of the charrtvs Investments, At 31st December 2023 the Charity held net current assets of £30.834 ￿)d inveslmon18 valuod al £66,763. The company has no form81 res8rv88 pollcy tthyver thtr trustees ide8lly Ilke lo hold freo re*rves lo cover three month8 expendItU￿ which Is currenty e81imated at approximat8ty £20.000. Th¢ company currently has free r￿1ve8 of £97,597 **)Ich 18 in exc•ts of the pr8sulbed l•vel Mt. PoN¢y for 881gction of Investments.. To J¢lecl Investments t￿tch Pwve a managed li￿ in *xd•r lo ry0￿e Incom• for thè Charity a8 well a8 eapttal Structyr•. g¢)v•Tnanc• and manag•m•nt Tha Ch8Aty 18 ￿￿ed by the Clwlty Scheme of 23rd S￿ernb￿ 1980 ar￿ varled by thg S¢heme dated 22nd Saplember 1997. The trusteés ￿ serrfed duty Ihe year aThl w to Ihe dale of signature of finlnciql 8tstements were.. Mr P W BJgg¢ Dr M R McLean ￿re8￿rer) IRewgned 15 May 2023} Mr8 K Mcskimming Mr P S Ing (Chairl Dr J J ￿TrIte MrnA McKenzie Mrs I V Ewart (A￿￿ed 15 May 2023) DAWSON'S COThAGES TRUSTEES. RE14)RT ICONTINUED) FOR 7HE YEAR ENDED 31 DECEAIBER 2023 OM by Brwh Cou￿4. Or M R McL•an (fi••*vw) DAWSON'S corrAGES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DAWSON'S co￿AGEs I rewt lo the trustees on my examinalion ofthe financial statements of Dawson's Cottaw (the charity) for the year ended 31 Dttember 2023. Responslblll¢les and Imsls of r•port As the trustees of tho charity you are re8PWt48 for the K*eparahon of the financial stat@m￿ts in accordanca wih Ihe ffjquiremerrts of Charib"esAct 2011 (the 2011 Act). I report In respecl of my examination of d￿rity's finanual sL*ments carried L¥Jt undar wtion 145 of the 2011 Act. In carying out my examinabon I have fr￿lowed all ts ap￿1¢•blO Direclions wen by the Charity Commi8sron der section 145151{bl of the 2011 Act Ind•p•ndont •x•mln8rf¥ ¥tat•m•nt I have completed my eXamina￿n. I cL¥ffimi Ih8t rn Matt￿ hove come lo my attentoon in conn8cllcfi with th8 oxamlnalion giving me c8uBe to bglievé Ihat in any material resp8ct'. accOun￿n9 records wef8 not kept in r8spect of the ¢harity as I￿￿red ty seclim 130 of thfr 2011 Act: c* Ihe financkg15tatements do not accord wrth Ih088 records.. or the finonaal slalemerrt8 do not comF4y wilh Ihe apF4icable requiremtsnts cLYttming the fom and conl8nt of acccMJnts set out In the Chontle$ {Accounts and RepJtsl R¢gulatrons 2008 othw than any requirement that Ihg accounts give a true arKI falr vi8w which18 not a matter c￿ljered as part of an ir*Jependent examinatlon. I have r#) ¢oncems 8nd ha￿ comè ac1￿8 no ¢)th8r mettern in OJnn8cYM wtti the 8xamination to *hich ottention should té drawn In th18 r•Fort in c*der lo enabl• a prop8r undor8tsrbYlng of the finar￿*81 statements to be reach8d. Mr J Yarrow FCA Indopgndent èxaminer All•n Syko• Umlted S Her￿n Closa &>uth Church Entorwt88 Park BlshopAuckl8nd Co Durham DL14 6WA /10/3+ DAWSON'S corrAGES STATEMENT OF FINANCIALACTMTIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrnstrktsd Unro8trlct funds funds 2023 2022 Income from: Charitable activiU Inve5trnen18 30.911 355 32,144 241 Tol•l Incom• 31,288 32,385 Expendltur• on: Chantablo a¢livitss 17,536 44.934 T¢*tsl •xp•ndltur• 17,538 44,934 Nel gain8111088•81 on inve8lmw 7.1 $5 {8,2601 Net Incom•l(•xpendllur•l •nd mov•ment In fund• 20.885 (18,809) R•conclllAtlon of lund•: Fu￿j balwKe8 811 Januwy 2023 76,712 95.521 Fund ￿lI￿C•S at 31 DK•mb•r 2023 97,597 76,712 The 8tat•m8nt of ￿n￿cid od1vil￿$ I￿lL￿deS all gains aThl k)$8e8 ro¢Ow￿l In the year. All irume and •xpén(liluro d•rive from conllnuir•J *tiviti88. DAWSON'S co￿AGEs STATEMENT OF FINANCIAL POSITION AS A T 31 DECEAIBER 2023 11 86.763 59,608 12 Ca•h at bank tn 10.111 8.148 31.791 13 18.084 on• y••r (9801 17.104 97,597 76,712 78,712 Th• lunds otth• chwlly Unr08tr1d•d 97,597 78,712 97.097 76,712 1/10/2 < R m¢L￿ (rrwyw) Tn DAWSON'S COThAGES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng pollcles Charhy Inlorniatjon Dawson's Cottages is a putAlc bernfit en￿ orKI a registered tharity in England and Wales and Is uninco￿)rated. The address of the princlpal 0lTKe 18 84 Montalbo Road, 8amard Caslle, County Dutham, DL12 88P. 1.1 Accounllng conventlon The finoncial stslements have been wepared in wdance with the charit￿$ Act 2011, FRS 102 Yhe F#iancial Rep)rting Standard ap￿Icable in the UK aThJ Republ￿ of Ireland. fFRS 102.1 and thg Charities SORP "Acctyjnting and Rewrtrng by Chanties.. Ststement of Recommended Pracuce applicable lo charitigs preparing their accounts in accordance wjth the Fina￿81 ReFortirb3 StaTrdard applica￿8 In the UK and Rep￿11¢ of Ireland IFRS 1021. leff&iive 1 January 2019). The chartty is a Public 8enefii Enw as definèd by FRS 102. The charity has token thantsgo of tho Pf0Vb8ion8 11 the SORP for charltle8 not to r*epare o Stsknenl of Cash Fbws. The ffnarKial 8talement$ are Ple￿red in Sterling. whl¢h is the functional currew of the charity. Monetary amounts in th8sè financkgl statements are rwnded lo the nearest £. The flnanclal statements havè been prepared under the historical cost convention, mc*Jrfted lo indude the rO￿lUatIOn of certaln fin•rKial Instruments al fair valug. Tr Pri￿1paI accc￿n￿nll polic￿ adoplthl are Set out b￿0w. 1.2 Golng conurn Al tho ts'me of approvirvJ Ihe fln*Kial ststwnen18, th8 tru8108s have 8 r8880nable eX￿ClOt10￿ that the charfty has adequate re80urces lo ccfflts.nue in operatic￿1 ¢xi81erta for tho fcyeseeable futu￿. Thu8 th• tnAteg8 contlnue to adopt the pirwj concem ba81s of accounb'ry in prtyaring the flnanLy818lalements. 1.3 Charltsbl• fvnd• Unrestricted fund8 are avai￿le for u•0 * th8 th￿%eIth of th• truste•$ in ffftranc8 of thelr charllablo objective8. Restricted lurKl6 are sutyecl to specifi¢ condM￿n9 by dontxs or grartcrt a$ lo they may b8 used. Th8 PUfPOS•S ￿￿8 01 Ihg re8tricW funds we set out in ThXe8 to the financial st8temenl8. Endowment fiYKI8 are suty'ecl to $F•￿fiC conrfrtiem by dc*Kn that the capital must bo maintslned by the Ch￿ty. 1.4 Income Income 15 recogni8ed when the tharity 15 legalty ents'ued to it after any rHfmance coThJitth$ have been met, the amowts can b8 measured rel￿bly, and rt is probable that Ir￿ wll be recwv&J. Legacie8 are recogniwl on recelpt or oth8Th￿se rf the charity has been notifigd of an impending Qkgtribution. amount 18 known. and re￿pt is eXFecW. If amount is not kncr*n. the legacy is treated as continggnl asset. DAWSON'S co￿AGEs NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng polic1•• {Contlnuedl 1.5 E¥pendltur• Expendrture is recoww once tsre i¥ a *al or c4Jnstructtrve ot*gabon to tran3fer economlc benefft lo a third paty, it is probable that a transtsr of economlc beneffts wll be required in settbem8nt, and tho amount of the obligation wi bè measured reliabty. ExpendItU￿ is cla88ffied by activty. The costs ol each activty are made up of the total of dir&t eo$16 and Shargd costs, including SUPFQrt costs invofved in undertaking ath.vty Direct costs attributat48 lo a single aC￿vIty are allocated directly to that activty. Sh8red eo$ts %￿Ich conlribthe to mole than one acts.vrty and $UPFQrt costs which are not attn'butablè to a sin9te fxllvty We appcthn&J l)et￿on th￿e ac*lvibes on a ba818 t￿SiStent the use of reS￿r¢e8. 1.6 Flx•d a￿at Inv•¥lrn•nl* Fixed asset investmenls are k)rtwlly mea8urnd at transact￿ pnco exdLKling trarAactlon co6t8. and are ubsaquenyy m8asur8d al lair valug al each rewt.ng dale. Ch8nge8 in fair value are r￿ognISed In n¢omellexpendrturel for the year. Transaction costs are expgnsad 88 In¢ured. 1.7 Cash Ind cash equlvalent• Cash arKI cash equi¥alenl$ include cash in h¥￿. depo81ts hekl at call with bank8, Other 8hort.l•m Ilquld inve8tm6nts wlh origin81 maturitw of thm rnonths or ￿s. and bank overdrafts. Bgnk overdraft8 are shown vAlhin bL)rrov4ings in curront Ibts'kti'os. 1.8 Fln•nclal In8trumwts The cha￿tY has elected lo awy the provi8iM¥ of Secbon 11 '88¥ic Financlal In8trumonts' and Sectlon 12 'Olher Financial In8trumenl$ 18sues' of FRS 102 to all of its finanoAI in$truments. Bask Ilnanclal ass•ts 888lc financial assets, *Athbch inc*Jde debtor8 cash and bank balan￿, are Inltialty measur&J at tr8n8a¢tlon price induding transa￿lon costs and are subsequentty carried at amortlsed co8t using the effecllve h)terest method unles$ ts arraTrJemenl eonstrtLrte8 a finanung transaclion, where the transgcllon is m&o$ured al the present value of the ftjture receipts discounted at a market rale of interest. Financlol a88ets ¢1•88ffied as rK￿¥at4e witlin one year we ￿￿tISed. B•slc Ilnanclal IlablHIi Basic financlol Ilat4'lrties, incI￿aIng credilorn and bankloons are initsalty recognised at transaction prts unL988 thE arrar4Joment conslitutes a ffinarKirvJ transaction. where the debt Instrument 1$ M￿sUred 81 the present valu6 of the future payments discourrted at a markot rale of interest. Financial liabilit￿6 da8￿fied 88 Payable wilhin one year are not am0￿$¢d. Trade Gr¢ditors are obilgations to pay for gwJ8 ￿ se￿1¢65 that have be￿ acquired in the Ordin￿ course ol operatffis from 8upF4iers. AM￿nts payable are ckssffied as ujrrerrt liabil￿e6 rf payment 18 due within one year or less. If r¥)t. they are presented as rb)n-currenl liakn"lth"es. Trade creditors are re￿niSed initially at transaction pnce and subsequentty measurgd at amortised cost using the effeclive interest method. Crltlcal •¢countlng egtimates and ludg•m•nl• In the oppllcaUon of the dwrity's accountiw pc4￿98. the tru8teeB are ￿qured to make judg￿1￿18. estimat•s and assumptions at4)Ut the carrying amount of assets and 1iats.l￿.e6 that are not readily apparent from other sources. The estimates and 8sxoated aswmpti￿s are based w hist(*ical e¥Ferience and other faCt￿S th8l are con$idereJnised in the periixl in wthich ostimate is wised where the revision affects cnly that period. or in the period of the revision and future pericwts where the revi>on affects both current and future periods. DAWSON'S corrAGES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Charltable activlile¥ Provision & Provlslon & M•ntyement of Management of Almshouses Almshousès 2023 2022 Maintenanc• Contributior*. Ams People 30.911 32,144 Incom• from Invegtnwnts Unrtstrlct•d UnMtrl¢tod funds fund• 2023 2022 Income from listad investments Bank Intere8t r•cetvable 162 193 182 59 355 241 Charft•bl• •ctlvltle• Provlslon & Provlslon & M•lni8nanc• M•Snt•nance ol of A1rn8hou$ Almhou¥e• 2023 2022 Rates & IAlaler Llght & ￿al Repairs & malnlenar In8uranc8 Legal & prof0M￿nal 2,960 380 33,070 1,228 4,022 9.601 1,283 4,213 15.683 41.860 Share ofgOvema￿e {see n(kn 6) 1.853 3,274 17,536 44,934 DAWSON'S corrAGES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs allocated to activttl Total 2023 Total 2022 Govemance 1,853 3.274 2023 Gov•m*nu coth comprkn•: 2022 Legal and profesglcrAI Independent examintrs fe Olhor c0818 623 960 270 2.039 960 27S 1,853 3.274 TruAt••¥ None of th• trusteas lor ￿ [*￿18 c￿nected Tmth tham) roceN•d any ramunern￿On or bonefft8 from the ¢harlty during tha year. Employ• Tha average monthly number of offlploy*es thring th8 year wa8: 2023 Number 2022 Number Total Galns and on Invmtments Unmtrlctgd Unrnstrlct•d funds funds 2023 2022 GainJlllos8esl arising ￿.. Rev0h￿tiM of In￿$trnents 7,155 6,2601 10 Tax*lon The charity is exempt taxation ￿ its actibllies becauso all its irwme 1$ 8Wled for charllable purposes. DAWSON'S COThAGES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Flxed a880t Invmtments Ll•t•d Inve8lments Cost or ￿luatIOn At 1 January 2023 Val￿tiOn changes 59,608 7.155 At 31 December 2023 66.763 Carrylng •mount At 31 Decembw 2023 86,763 At 31 De¢amber 2022 59,608 12 Dobtorn 2023 2022 Amounts falHng du• wlthln on• yur. Other debtor 23,648 10.111 13 Crodltorn: •mount• falllng du• wllhln on• yèar 2023 2022 Accruals oTrJ dekned Incomo 960 14 UnrMtrl¢t•d fund• Thè unrostrKled lunds of the ch8rlty r£¥nprise the unexpended balance8 of dwtions and grants which aro not Subpct to 8peciftc corKlIti￿6 by dontxs and grantm as to they may be use(l. These indude designated funds %thich have been Set aside ¢)ul of unrestricted furvjs by the Intstees for SFecific purpow. Al 1 January 2023 Incomlng Resourc•s •xpond•d Galns and 108808 At31 D•c•mber 2023 General fLfftds 76,712 31.2e6 (17,538) 7,155 97,597 Prnvious y••r: At 1 January Incomlng rnSou￿8¥ Re8our¢&8 expend•d G4lns and At31 lo￿05 Doc•mbèr 2022 Ger*ral funds 95.521 32,385 (44,934) {6,2601 78,712 10- DAWSON'S COThAGES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Relat•d party tranu¢don8 The￿ no di8thsaNe related paty tranwlions ￿ring the year12022- ncTr). 11