LADY HERBERTS HOMES
FINANCIAL STATEMENTS
FOR THE YEAR ENDeD 31 DECEMBER 2024

LADY HERBERTS HOMES
INDEX TO THE FINANCIAL STATEMENTS
for Ihg year ended 31 D•c•mb•r 2024
L•gal and Admlnistratya Infomiatlon
1to2
Trustses Report
3104
Trustee8 ReSp￿S1b11tioS
Raport oflhe Audknr8
5107
Ststemenl of Flnandal
Balane* Sheèt
Nole8 to tho Accounts
10t018

LADY HERBERTS HOMES
LEGAL AND ADMINISTRAMVE INFORhlATION
TRUSTEES:
10 Cowoptatlvo appolntod und•r claus• 3 of the schemè of 2 Mar¢h 1983
Rotlr•mont date
D.J. Evans F.C.A. Ichalrmanl
Dr. R. Davies IChalrman}
M.J. Harris M.8.E., J.P.. M.
E.J. Curtl8 F.C.l.
D. Mason
T. Proctor B.So.
Mr8. V. Ker8h8W
S. Sharpe
M. Lapsa IAppoinl8d 1 Aprfl 202•
R.G. Smblh F.R.l.C.S.
Mrs. J. McNan
Passed 8way 19 Mafch 2025
28 February 2026
30 November 2027
20 May 2026
24 August 2028
28 Awil 2028
24 October 2026
30 October 2025
31 March 2028
Reslgned 26 July 2024
Passed 4w8y19 D￿9Mber 2024
9 Nomln•tlv• •ppolntod by th• Clty Councll of C¢w•nty undor clauv 4
CounrAllor R. Lakh8
Counallor T. Jandu
Coundllor Mrs. C. Mlks
CounGillor J. cirfford
16 May 2028
16 May 2028
Rosigned 16 May 2024
Reslgned 18 May 2024
Currentty 7 vacande8 romaln
1 Nomknatlv• •ppglntfyd by the Fv••m•n'• Charfty und•r ¢l•uM 4
Currfrntly 1 vacancy rom#ln#
Page 1

LADY HERBERfs HOMES
LEGAL AMD ADMINISTRATIVE INFORIA4TION l¢onfdl
CLERK TO THE TRUSTEES
Mrs. S.A. Hanrahan
PRINCIPAL OFFICE
G￿9131 Charft18s 0￿8. Old Bablake, Hlll Street
Coventy, CV14AN
sOUc￿oR5
Mander Had1￿ & Co.
1 The Quadront, Covenlry. CV12DW
SURVEYORS
Lov8ltts, 29 Warwk4¢ Row, Cov8nlry. CV1 1DY
AUtrnRS
Daffem8 Audh Llmlled, Chartered Acr￿unt8nts, Ststutory Audllor8
Ong Eastsvood, H8ry Weston Road, Blnley Bu8lnos¥ Parf(. Coventry, CV3 2UB
INVESTMENT BROKERS
al￿￿•r Ch￿01. Provln¢lal Hw80, 37,N•w Wak, L8k88ter, LE18TU
REGISTRATION NUMBER
232086
Page 2

LADY HERBERTS HOMES
REPORT OF THE TRUSTEES
forthe year &nded 310oc¢mb•r 2024
The Trustees present their report along with the financial statements of the Charty for the year ended 31
December 2024. Thè Trustè8s hav8 adoptad th& provis￿n$ of Statement of Recommended Practice ISORPI
"Accounting and Reputing by Charitles. IFRS 1021 in prnparing Iha annual report and financial statements Of
the charity.
The financial 81atemenl8 have been weparfjd in 8Ctxrd8nc8 Wbth th& accounting pol￿1￿8 sel out in notes lo the
acLounts and compty with the charity's governing document, the Chanties Act 2011 and Accounting and
Reporting by Chantl8s'. Stalemonl ol Reo)mmended Practice applicable lo Charitles pr8paring Iheir accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in
October 2019.
StrvctUf•i gov•m•n¢• •nd m•n•gffli•nt
Th8 Charlty is an unincorporated charty, constituted under trust deeds dAt8d 25 January 1936 and 18 March
1938 and a Sthemg of the Charity Commissioners dated 30 January 1970 aThJ 18 a r8gistared charity, number
232066. The Chaftty Is adminSslered by The Goneral Charity, Coventry. The Trustees who served durlng th
year and sinee the year end aro sgt out on pag& 1. Trusleas are appointed by the board ofTruslee50r nomlnaled
by Coventry Cty Council or the Freernen's Chaflty 8nd seNe for gilher four or live years after which period they
may put lhams8￿•S forward for re.appolntment. Tho Trustee8 meet quart•rty lo ¢on$ldgr any applulions in
resFocI of alm$houso vacancies.
New Trustees are Invlted lo attend the Clèrk's offic8 where they wlll bg provld•d wlth a brief outline of thè maSn
actlvilios of the Charily.
R5•k rnan•gomont
The Tru8199$ havg consbJ8red tha major rlsks lo whlch the Ch8rlty1s exposed and hove Tovlewed tho$9 rlsks
and established Systèms and pr¢xedure8 to man899 Iham.
Obloctlve• •nd •¢tlvltl••
The object and 8cllvlty of the Charty IJ the provlslon of aeeommodatlon for the elderly 818ub81d18ed ronl8.
Thg Tru8tee8 confirm they havo referred lo the guld8nce contained in Ihg Charlty Commlsslon's gèneral
guldancg on publlc ban8flt whan revSewlng the Charlty's alm8 and oblectlves and In plannSng fulurg gclSvlllos.
A¢hl•v•m•nts and yrfomian¢e
The Collages have been avallable lo let durSng the year.
Tha rents are kèpl al a mode$l16vel wth increa8e8 SO￿lY lo cover Infl8llon. the weekty increase for all eight
¢0ttoge¥ being £20 for tha year.
Flnan¢i41 r•vi•w
Tolal Incomlng r880urcès for thè year amountèd lo £55,014l2￿23.' £55,480) Indudlng ron1$ of £44.434
12023.. £46.488).
Total resources expended were £63,457 12023.. £36,073) of which £58,01312023.. £32,027) rèlaled lo the
njnning costs of the residences.
The net expendllure lor the year amountgd lo £8.443121Y23.' Inwme £19,407), before gains and bsses on
investments.
After inv85tm8nl gains of £29,54312023.' gain3 of £14.160) the nel increase in fund$ £21,1TrJ12023'.
Increase £33.5871.
Page 3

LADY HERBERTS HOMES
REPORT OF THE TRUSTEES ICONTINUEDI
torth• year onded 31 D9¢ernbgr 2024
Inv•$tsn•nt pollcy and porfomwnce
The Investment strategy is set by the Trustees on an annual basls and tak8s aceL*unl of deM￿lJ$ forfunds. The
Trusl88s consider the Incomg raquirements, the risk profile and invaslmenl managers, vièw of the fflarket
prospacis in ihe medium lemi. This strategy 1$ set within an overall policy whth $1gtes thalthe endowment fund
should be invested In low lo rnedium r18k Investmgnts wtth a view lo enswSng that caplal approciatMJn of the fvnd
exceeds inflation oath year.
The return on the Charity's Investments was 12.6% on the endowment and 12.7% on thè accumulated
incorne fund. This compares to the MSCI UK Index movomenl of 9.6%.
Ros•r¥￿ pollcy
The Chaflty malnlalns separaté deslgnalod funds. n8m8ty the Extraordinary Rapa￿ and Cyclcal
Maintenance fund5 whose purpos8 is to avoid widely fluctuallng expenditure on maintenance, Improvement and
extraordinary r8palrs from year to y8af. At 31 December 2024 the88 funds lolalled £29.283.
11 18 the policy of the Charity lo mainlain the acDJmuLiled Income lund al algvel Suft￿.ent lo cover al k8ast one
yearfs expenditure. The avallable reseNe8 now stand at £197.305 Inole 131.
Plan• for th• futum
The Truslo9$ Inlond to continue to adherg to thg bequosl of Lady Horbert to wovide low cost accommdolSon
lor elderly Lgdles.
Truits•s ro8pon¥lbllltl•• In r•l•tlon to th• flnanclal •tst•ment•
The Trustee8 are re6pon$lble for prop￿Thg tho Tru8leg8' Roport and th8 financlal $18t8m&nt$ in accordanc8 wtth
applica￿& law and Unlled Kingdom A¢rJJunling Sl8nd8rd8 Iunlted Kkngdom Generalty Accepted A¢wunUng
Prac1￿81.
The law applicable lo Gharltles In England & Wale6 requlr88 the Truslee81o preparg fina￿la1 statemènts loreach
flnarKial year whlch g￿e a true and falr view of the slate of affaiTS ol the thafity and of the in￿ming re8ourc*8
and applicallon of r080urces of the ¢harty for that perfod. In preparlng those finandal 8talements. the Tru8leeB
are raquirad to..
selecl SU￿abl0 a￿OUntIng poliaes and then apply Ih8m con61slenlty',
observe the methods and priwplas in the Charllle8 SORP 2019 {FRS1021,'
make Judgements and e8￿mateS Ihal ar¢ reasonablè and prudent;
slate whether appltable accounilng standards hava b88n followed, 8ubigcl to any mglgrial departures
discloseil and axplained in the fmancial 51alernent$,'
prepare the fjnanclal slalemants on the gokng concem bas18 unlgBs tt Is inappropri8le lo prgsume Ihal
the chwity will contlnue In operallon.
The Tru81e8$ ar8 rasponslble for keeplng ar￿U￿￿ng reoords thal disdose with rea8onabl8 Accuracy at any lime
the financial posltltsn of the charity and enable Ih8m lo ¥nsure ihal the financial slatements ￿MplY with the
Chanties Act 2011, Ihe Charity {A￿U￿t$ and Reportsl Regulallons Z¢J08 and the prtsvi8ion8 of the trust deed.
They are also responsible lor s8fegu8rding the assets of the charity and h8nca lor taklng reasonat4e stops for
thg prevgnlion and detection of fraud and other irr8gularili8S.
s E.I,S-. and ¥lgned on th¢li bghalf by:
Approv•d by th• Trust0￿ on........... ...... . ......
Dr. R. Davl&s- CHAIRMAN
Page 4

LADY HERBERfs HOMES
REPORT OF THE INDEPENDENT AiIDITORS TO THE TRUSTEES
OF LADY HERBERTS HOMES
Oplnlon
We have auditèd tha financAal slalemenls of Lady Hèrbèrt's Homes {the 'charity'l for the year ended 31
December 2024 whlch comprise the Stslement ofFlnanclal Activities, Balance Sh891 and r￿te$ to the financial
slalements, including a sufflmary of signrfKanl a¢￿UntIng policies. The financial repo￿n9 framework that ha8
been applied in iheir preparation is appli¢aNe law and Unilgd Kingdom Accounting Standar¢J8, including
Financial Reporting Standard 102 Thg Flnancial Reporttng Standard appIl￿ble in th8 UK and RepuNic of
Irgland (United Kingdom Generally Acceplod Accountsng PractiC8).
In our opinlon the financlal slalemgnts..
givè a true and fair view of the 81ale of tho tharity'$ affairs as at 31 December 2024, an(J of its Incoming
resourcgs and appliGation ol rèsources, foi the y&ar Ih8n 8nd8d,'
have been prop8rty prèparèd In accordance wilh Uniled Kingdom Gonefalty Acoepted Amntlng
Practice,. and
have been pr8partd In accordanc8 wlth the requirement8 of the Ch8ri1i88 Act 2011.
81111 for oplnlon
W8 conduoled our audit in accordanca wllh Inl&rnallonal Slandard8 on Audlllng (UK) {ISAs IUK)} and
appllcable law. Our rg$pon$lbllilles underlh06e sland8ids ar9 lurther descrlbed in the Atjdilorfs r•sponsibilities
for the audit of th8 financl81 slal&ments section of our report. W6 are Independent of the charlty In accordance
wllh Ihg Othlcal requlremenls that are relevant to our audit of the financlal slalgmgnls in the UK, Indudlng the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililles in 8c¢ordance wllh these
requlremenls. We believe that tho audit evidancè wè hav8 oblaingd Is 8uffl¢lenl and approprlal8 lo provlde a
b8sls for our oplnion.
CDnclu8lon• rnl•tlng to golng conc•m
In 8udbting the Ilnanclal Btslemonl$. we have condud8d that thè Iru81008' U89 of tho golng concem baBls of
8cGountlng In the preparallon ol the Ilnandal slaloments Is approprlale.
Based on the work we hav8 ￿rforrned, wè have not Idenlifled any materlal un¢ertaSnlles rglallng to ovonts or
condlllons that. Indlvldualty or collectively, may ca81 slgn1fl￿nt doubt on the charity's ablllty lo contlnug os
going concern for a pgriod ol 0118a51 fv4elve month5 from when the flnandal 8latemen18 are aulhorSsed for
18SUQ.
Our responsibllrtias and the re3ponslbllhl88 of the trustees wllh respect to oolng concem 8fe de$crfb8d In the
rel8vant ￿e{lOn6 of Ihls report.
Oth•r Informatlon
The other information cornprlses the Information Included Sn th¢ Iru$l8es' annual réport, olhor Ihan tha flnanrAal
statemen18 and our 8u(lilor's report Ihgrgon. The Irusle85 are re8ponslblg for the olhei information conl?ingd
within the annual report. Our opinion on th8 financial stslernen15 does not cov8r the other Information and,
except to the extent olhorw18e explicitly staled In our report, we do not express any form of assurance
concluslon thareon.
Our responslbllity18 lo rèad the other In10rn18tion and. In dolng so, consider whether the other information is
matgrially inconsistent with the finan￿￿1 statements or our knowledge obtained in the coursè ol the audit or
otherwise appears to be materially mbsslaled. If we idenlfy such material Snconsislencies or app8rènt material
misstalaments, we are required to determine whether thi5 ris¢ to a mat&rial misslatemenl in the financial
sl8lements Ihèmsglves. 11. based on the work we have performed. we condude that there is a material
miststalemenl of this other Infom)ation. we are required lo report that fact.
Pagg 5

LADY HERBERTS HOMES
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES
OF LADY HERBERTS HOMES
We have nothin9 to report In this regard.
Matt•rn on which we are required to ￿pOrt by ex¢•ptlon
Wé have nothing to report in raspect of tho following matters in relat￿n lo whk* the Chari￿$ (AwKJunls and
Reports) Regulations 2008 require us lo report lo you If, In our opinion..
the infomalion gI￿n in thfj finanual siatemenls is inconsistent In any matgrlal respect with the tru8tè8s'
report., or
suffici8nt aecountlng records havo not begn kept: or
the financlal statements are not in agreement with lh• accounting records,. or
wo have not Tecelvod all the Informatlon and explanatSons wè requSrg for OLbr audit.
RMpon•IbSlltl￿ ol trust•••
As ¢xplained more fully in the liusl8as' rosponsibililies statement S81 out on page 4, Ihe trustees are
responsib￿ for the preparation of financlal 81alemenl8 whlth glvo a true and falr view, and for such St)lernal
control as the trustees delermln8 is necessary to enable the preparallon of financAal statements that are free
from material ml88lalemenl, whether due lo fraud or e￿Or.
In preparlng Ihg financial slatem8n18, thè Imslèes are responsib18 forassessing the ch8rily'8 8bilily lo ¢onlinue
aB a going concern, dlsclo8ing, as applScable, mattèrs related lo golng conc•m and using the golng concom
basls of accountlng unle58 the Iw8lees elther Intend lo liquldale the chaflly or to ogase Oporat￿nI, or have no
realisti¢ arternative but lo do so.
Audltor'B re¥pon*lbllltl•• for th• •udlt of th• Ilnan¢l*l ¥tatsm•nt•
We hava baon appolnled as auditor under sectSon 144 of the CharllSeB Act 2011 and Igport In ac(￿rd￿ne0 with
rogulalions mad? und•r saction 154 01 that Act.
OUT obledives are lo oblaln r998on8bl8 assurance aboul whelhor the financlal Blalemenls a8 a whole 8r& frae
from material mi5sialemenl, whether due lo fraud or error, and lo18sue an audllor'$ r¥port Ihat includes our
opinlon. R&asonable assurance IB a high level of a$suranoo, bLrt is not a guarantee Ihal an audit conducted in
accordance wlth ISAS IUKI wlll always delecl a maledal mlsstatamenl wh8n il exis18. miss181emgnls ¢an arise
Irom Ir8ud or error and are considored malerlal ￿, Indlvldu81ty or In the aggregate, they could reasonably bg
expecled to Snlluence tho economlc ded$)ons of u88rs taken on the ba818 ol these financial slalemenls.
Irregular￿103, Indudlng fraud, are In8tance8 of non-compllance wrth law8 and regulaUon8. We deslgn proc9thJr88
in line with our responslblllues, oullSned above, to dèlec4 malerkgl mlsstslemgnts In respect of 5rregularitie8.
Indudlng fraud. Th9 procedures for Ihls 8ngagemgnl and Iha 8xient lo which these are ¢apaNe of
d8lectlng wregulartties, Including frawj is delailad below..
EnquSry of managgmgnl. those charged with governance around actual and polentlal lillgallon 8nd clalm8.'
Enqulry of enllly 8t8ff In compll8nce functions lo Identify any instances of non-c0mpl1an￿ wth laws and
rggulations;
Rewewing mlnutes of meellng8 of those thaig8d with govèmanc8',
Re￿9wIng financial statement disdosures and le$ling lo supporting documerrtation to 858e88 compllanco
wth appIl￿ble laws and regulations.
P8rforrning audit work over the risk of management OV8ffid& of controls. induding te3lw)g of loumal entrie$
and other adluslments for appioprlatenes8, 8valuating the business rationale of signlflc8nt transa¢tsons
outside the nomial course of busine55 ar￿ rewewing 8¢wunting esiimales for bias.
Page 6

LADY HER8ERfs HOMES
REPORT OF THE INOEPENDENT AUDITORS TO THE TRUSTEES
OF LADY HERBERTS HOMES
8ecause of the inherenl limilations of an audit, Iheie is a dsk thal we will not delect all irreguLAriti&s. including
those leading lo a material misslalement In the financial slataments or nonvcomp1San￿ with regulalion. This risk
Inueas¢s the more that compllance a law or r8gulalion is removad from tha events and Irans8¢th?ns
feflerted in the ffinanca81 stalemenls, as wa will be less like￿ lo be¢om8 aware of instances of non-compliance.
Th8 rlsk is also grealor regarding irregularities occurring dua lo fraud rather than error. as traud involves
inlenllonal concealment, fugery. collusion, omission or misrepresentation.
As part ol an audbt In accordance wlth ISAS IUK), we exerclse profgsslonaljudgment and maintain professional
8ceptlclsm throughout th8 audit. We also..
Idenlfy and ass8ss th8 risks of materkgl mlsslatèmgnt of the financial 81atements. whether due to fraud
error. design and perform audit procedures responsive lo those rtsks. and obtain audlt evldence that is
8uffld8nl and approprlat8 to provlde a basis for our opinion. The risk of not detecting a malerlal
mi8818lem8nl resulting from fraud18 higher than for one resulting frorn error, 88 fraud may invo￿8 colluslon,
forgery. intentional omi8slons, Ml$repre￿ntat1On#, or the oveffhje of int8rnal control.
Oblaln an undorstandlng of Inlemal control relevanl lo thg audit in order lo d&slgn audit procedures that
are approprlate In Ihe cIrcum$tan￿$. bul not forlhe purpo89 of expre8slng an oplnlon on the affectivene8S
of th9 thartty'5 Internal eonlrol.
Evaluate th6 approprlaleness of accounlbng pollcles u88d and tho r8asonablen858 of accounlkng e8tom8le8
and related d18closures m8de by th8 trustees.
Concludè on lh• approprlalen855 of thè Irusle68' use of th8 golng concern basls of ac¢ounllng and, based
on the audll evldence obl8ined, whether 8 malerlal uncertainly ex151s related to events or condillons that
may ￿81 significant doubl on the ch8rlly's ability lo continue as a g0Sng concern. If we Conclude that
materlal uncertainly 8xists. we ar8 required lo draw attenllon in our autJltor's report lo thè related
disd05ure8 In Ihe fln8ncl81 $18lement6 or,11 such d18clo8ur8s are Inadequate, lo modSfy our oplnSon. Our
conclusions are b888d on the audit evidence oblalned up to tha date of our audllor's roport. However,
future events or conditlon8 may ¢au69 the charity lo cease lo conllnua as a going concern.
Evaluate Ihg overall presenlatlon, slnjclurg and conlenl of the financi81 statemen15. indudlng Ihe
di8closur•s, and whether th8 fln8ndal 8lalemgnts represenl the underlylng transacllons and events Sn a
manner that achlevos f8lr pr&8entalbn.
We communicate Wlth those charged wllh govarn8nce regardlng, among other matt8rs, the planned swpg
and timlng of thè audlt and slgniflcant audll flndlng8, Indudin9 any 8lgnifi¢gnl dèfici8ncle$ In inlemal control
thai we identify during our audil.
U•• olour r•port
Th18 feport 18 made solety lo the charliy's tru8190$. as a tjody, In accordance wlth Part 4 01 the Ch8rllie$
(Accounts and Reporisl Regulations 2008. Our audit work has been undertaken $0 that we mvJhl slate lo the
charity'5 trustees those maller$ w8 are required lo $181e lo thèm In an auditor's report and for no other purpose.
To the fullest extent pemillled by law, we do not accept or assume respon5ibilily 10 8nyon¢ other than the
ch8rlty and the charity's Iru8lees as a body, for our audit work, for this report. or for the opinion8 we have
formed.
Daffems Au¢Jit Limi
Chartered Accountants
Slalu¢ory Auditors
Ono EaS￿00d
Harry We3lon Road
Binley Bustne88 Park
Coventry
CV3 2UB
Dated.. ...
29 ..A,,. .d.. aols
Dafferns A￿11 Llmitgd is eligible lo ad as an auditor in 1gm)$ of Section 1212 oflhe Companw Act 2￿.
Page 7

LAOY HERBERTS HOMES
STATEMENT OF FINANCIAL ACTMTIES
for the y￿r end￿ 31 D￿0mb9r 2024
Unrestrfctgd
ACC￿mu1￿ted Designatéd Endowm￿1 Total
inco
nds
Total
INCOME FROM:
Charftsblo AGtlvStJ•s
Rents
44,434 46.488
In¥￿trOnth
Invoslmgnt kn￿Me
5.240
10,580
8,992
othor Incom•
Donalv)n from G8ner81 Charltlès
To1•1 Incomlng r••ourc
49.674
5.340
55,014
SS,480
EXPENDITURE ON:
Charltsblo A¢ttvl¢lo•
Accommodalk)n costs
G0vema￿e cAJ$18
58,013
S8,013 32.027
4,048
Totsl r••ourcv exp•nd•d
63.457
63,457
36,073
N•t Incom•1 l•xp•ndtturn) b•ft+r•
In¥￿I￿ont galn•l Ilo••MI
{13,7831
5.340
18,4431 19.407
N•t G•ln•1lLo•i￿Tr on InvMtm•nt ••••t•
13,456
16.087
29,543
14,160
N•t Incom•ll•xp•ndlturel b•lng
N•t mov•m•nt In fund•
1327)
21.427
21,1Cf1 33,567
R•conclllailon of fund•:
Total funds brought fO￿ard
197.633
29.283
329,178 556.094 522.527
Total funds carrled fcfi¥ard
11 & 13 197.31
29,283 350,805 577.194 556,094
The notes on p8gos 10 to 16fomi part of these finandal slalements
Page 8

LADY HERBERTS HOMES
BALANCE SHEET
31 Dècember 2024
2024
2023
Notes
FIXED ASSETS
Tangibl& assets
205,775
205,775
In￿SImOnts
345,375
2￿,795
Total Ilxed &ssets
551,150
496,570
CuRREl￿ASSET8
08btCY8
5.938
2.433
Cash at bank
26,147
61,S96
Tot81 curfenl assèts
32,085
84.029
CREDITORS.. Amount8 falllng due
wlthln one year
10
18.041)
(4.5051
NET CURREIIT ASSETS
28,044
59.524
NEf ASSETS
577,194
558,094
THE FVNDS OF THE CHARrrY
P8m8n8nl fund¥
350,605
329.178
Unrestricted incomè fuThJs
226,589
226,918
TOTAL FUNDS
577,194
550,094
ÈK
Approved ty the bowd ofTrust**s on .
2Sand 81wed on its b8haW by
Dr. R. DO￿¢8- CHAIRMAN
Thg not9$ on page$ 10 10 16 form part of these fin4noal stalwnonts
Page 9

LADY HERBERTS HOMES
MOTES TO THE FINAMCIAL STATEMENTS
forthe year ended 31 December 2024
ACCOUNTING POLICIES
al General Inf¢mwtlon and ba818 of preparntlon
Lody Hart>&rt's Homes is an unil￿OrpOrated charity registered in England. The address ofthe rggistered offr
18 glven In tha charity Snformation on page 1 of these finan¢ial slatemenls. Thg nalurg of tha charity's
operations and principal actlwties is to provide accommod81ion for the eld&rly al subsidi8ed rents.
The charity conslilules a publlc benefit ently as defin8d by FRS 102. The financial statements have been
prepared in accordance with Accounting and Rèpctrting by Charities.. Slalement ol Recommended Praclice
applicable lo charthes preparing their accounts in accordancewrth the Financial Reporting Standard applicabla
In the UK and Republic of Ir8land issued In Oclober 2019. th8 Financial Reptsrting Standard applicable in the
United Kingdom and Rapubllo of Ireland IFRS 1021, the Charities Act 2011 and UK General￿ A￿epted
Awunling Practice.
Th8 ffnancial slalemenls h#v• been prepared lo gNe a'lruè and falrf Mew and have departed from the Charfllgs
(Accounts and Reports) Regul8llon8 2008 only to the extent required lo provide a 'trii8 and lair view,. This
departure has Involved following the Accounting and Rgporting by Charities.. Slalemenl of Recommended
prad1￿ applicable lo chaiili88 preparing their accAJun15 In accordance with the Finan¢Sal Reportlng Standard
appll¢8blg In Ihg UK and Republlc of Ireland IFRS 102) Issued on 18 Juty 2014 rather than the Accountlng
and ReportSng by Charities.. Slalemenl of R8commended Practice effective from 1 April 2005 whlch has slnce
bgen wilhdiawn.
Th8 flnandal sialgmgnls are prepared on a g0Sng concern ba8is under the hlsloric81 ¢osl conventlon, modlfled
lo Include cert81n ilems at falr value. The Ilnanclal slalgmanlB are pre88nled In 81erflng whlth18 th8 functlonal
¢urr8ncy ol the charlly, anij roundgd lo the nearest £1.
The 8ignlfi¢anl a¢¢ountlng pollcles applled In tho prep8ralOon of the88 financ481 slalgmenls are sèl out below.
These polides have b•en con¥S51gnlly applied lo all y&ars prgsented unless olhe(wlse staled.
bl Fund •ccountlng
8118 of the n8lur8 and purposè of fvnd are sel QLrt tn not8 12.
cl Income rocognhlon poll¢l•4
AJI IncA)mSrrfJ resources are indudad kn the Stalemenl of Flnancl81 A¢lIv￿g$ when the charfty18 legally •ntitled to
Ihe in¢oma and the amount can be m888ur8d réllably and tt is probable Ihal the Sncome wlll btr recofvgd. Inlergst
and divldond$ are fulty aecrued al the balance sh8el date.
d) expondlturn r•cognltlon and Irr•cov•rnbl• VAT
All expenditure 1$ accounle¢J for on an accruals bas18 and h88 been dassified under headings that aggregate
all costs relaled lo the category. Expenditure is r8cognlsed where there is 81ggal or con5truclive oblig¥lion lo
make payments to thlrd parties, It 18 probable that Ihg settlement will be requlred and thg amount ol the
obllgalion can be me8surgd reliably. 11 is categorI86d under Ihg followin9 headlngs..
osls of raising funds in¢lud¥$ Invgslmenl management ¢o$l$',
Expenditure on charitable activities includ&s the costs of maln181ning the ie8ldenc¢s Bnd a
proportlon of support ojsls in lurtherance ol tho charitable oblectiveB,' and
other expendtiure reprosents those rtems not falling Into the ¢a19gories above.
Irrecoverable VAT Ss charged 88 an expense against the activity for which exp8ndliur8 arose.
P8ge 10

LADY HERBERTS HOMES
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 Decembor 2024
ACCOUNTING POUCIES (CO￿nNUED>
81 Allocation of support Costs
These comprise staff and office costs provided by The General Charity. The majorlty oflhgse co818 support the
almshouse a¢tivlty ond arg so allocaleil. A small proportion of support costs Is allocat8d to governance ￿Sts.
The auocation of support costs is made on an estimate of staff lime spent on Ihe actfvths,
O Govgrnanc• costs
Govèrn8nce costs comprise all ￿$ts Invo￿1n9 lh8 public arzountablllty of the Char￿1 and its compllance wllh
regulation aThJ good pract￿￿. Th8so COBts Inclthae Costs relal8d to statutory audit 8nd logal fees together wtth
an allocation of support ￿81$.
g} T•nglblo flx•d auots and d•prncIa￿on
The land and buildings sat OLrt in note 6 are induded al cost and valuation. Th8 Trustees have not accounted
for depredation on lh8 freehoLd properly bgcause thè depreclaUon charg• and accumulale(I d&pr￿lation ar
Immalerlal and Ihere Ls a pollcy and practice of r8gular Maintenar￿ and repair of the property.
h) Flx•d •wt InvMtm•nts
Quole(J Inveslmanls are induded al m8rkel valug. being falr value, al the balance sheet dale. All gakn8 and
106ses, both re81i8ed and unrgalS$ed. are taken lo the Slalemenl of FknanrAal Actlvlties as they arlse.
11 D•btorn and crndltor¥ r•celvabh I payable wlthin one y••r
Debtors and credf(OT$ with no $lat&d interest rale and raceivable or payable wllhln ono year are recofdgd al
Iran$aGtlon prlce. Any loss•s arlslng from Impalfmenl aig recognised In txpendllure.
Golng Concorn
The flnancial slalements hav8 been Pf8p8red on g going o)ncem b881s 88 IheTrust8&s belleve that no mg18rlAI
un¢ertainli8s exist. The Tfuslges have considared the level of funds held and the expeclgd level ol income
and 8xp8ndilure for 12 months from aulhorising 1htr￿ flnanolal stat8rnenls. The budg8ted income and
expendilurelg sufficienl with the 18vel of reselvos for the charity lo be ablg lo ¢ontlnue a8 a golng concern.
INVESTMENT INCOME
Dlvldend8
10,580
8.992
Investment Income r•lalgs SO￿lY lo Unre8trlclod Income fund In the curyent and prac8dlng year.
Pagg11

LADY HERBERfs HOMES
NOTES TO THE FINANCIAL STATEMEMTS
forthe y•ar •nd•d 31 December 2024
ACCOMMODATION COSTS
Rèpays and maintenance
Rates and water charges
InsurarKe
Light and heal
Support 0￿18- The Gon9ral Charity, Covanlry
TV Licences
29,023
2,209
1.182
21.759
3,825
15
9,942
1,792
1,111
15,342
3.825
15
58,013
32.027
Accommodallon costs relales $018ty lo Unre8lrlct8d Incomg fund In th8 current and precedlng yaar.
GOVERNANCE COSTS
Subscrh)Ilon8
Audit
Accountancy
Support ￿8ts. The Gengral Charfty. Covanlry
385
2,006
1.000
075
3.105
1.599
675
4.527
Support costs arg apportlonod on the ba66s of 8taff lime.
Govgrnjnce costs relates solety to UnreslrlGlgd Income lund In Ihe current and pre¢èding year.
TRUSTEE'S REMUNERATION
No Trust88 or person with lamly or bu81n8s8 Conneotkins wtth the TnJ81ees recelvgd any romun&4Uon or
OK￿ns￿ during the year12023- £nll).
TANGIBLE FIXED A88ET8
LaThJ and bulldkngs al Chaunty Plg¢e. Coventy known 88 Lady Herb•rf$ Hom88.
At w¥t valuallon 1 January 2024 and 31 Docan*er 2024
205,775
The land 8nd bulidlngs wero valued on 21 Augu81 20J1 by Mes8rn. LovoNts, Chartered Suwor8,
Cov8nty, on an open market V8lue basls.
The Truslees do not considerlhere 18 8ny mgtgrfgl differer￿e btheen the mat*el value and ¢aryln9 value
oflhe propety due to Its 8huallon, natur8 and covenants.
Pag8 12

LADY HERBERTS HOMES
NOTES TO THE FINANCIAL STATEMEt4TS
f¢r tho yoar endgd 31 De¢•mber 2024
FIXED ASSET INVESTMENT8
Quoted
nvestrnents
Market value al 1 January 2024
Additions
DL8poso15
chan￿ In market value
2W,795
29,954
14,9171
29.543
Markot valua at 31 Decemb8r 2024
345,375
Quoted Investments al markèt valuè Com￿88.
Bftti6h Govgmment securitlès
Other UK fixed interest
Ovorsgas fixed inlerest
UK Equit￿8
Gbbal Equltl98
Alternative Inve8tmen18
Other assets
20.742
27,831
10,610
86,462
180,429
17,484
2.017
10,325
16,833
10,624
81,759
148,142
18,841
4,271
345,375
2￿,795
Included In the a￿9 arn the followlng repre88ntlng more than S% of tho porlfollo...
Mark
Art8ml8 In¢JJm• E G8P DI8
Blackrock Lrf8 UK Equlty DI Dl8
Fljelty UCITS ICAV US Qualty Income UCITS EfF Inc G8P
HSBC ETFS S&P UCITS ETF
Schroder Intern81ional Solgction Fd US Large Cap X
Art8mlB Fund Managers Globol Income
24,801
23,088
17,897
43,570
20,612
24,213
DEBTORS
2023
R•nl8
Prèpayments and aLYru8d Income
300
2,133
5,883
5.938
2.433
Page 13

LADY HERBERTS HOMES
MOTES TO THE FINAMCIAL STATEMENTS
for the year ended 31 D&c•mb&r 2024
CASH AT BANK
2023
Current account
Qulller Ch8vk*t
15.635
10.S12
31,388
30,208
28.147
61,5
10. CREDITORS.. Amounts falllng duo wthin on8 yaar
2024
Rents
Accruals
2.141
3,900
785
3,720
6.041
4,505
11. UNRESTRICTED FUNDS
Ana￿kn ol mov•m•nt• In unr••trf¢tod lund•- cuff•nt y￿1
Balancfr at
1 Janu8ry
Galns
and
Losses
and
en
8alan¢o at
31 December
Dowgn8led funds..
Extraordknary repalr fund
Cydl¢g1 Moinlananca fund
13.540
15.743
13,540
15,743
29,283
29.283
Ao)Jmul8ted Income
197,833
63,130
183,4571
197,308
226,916
83.130
183,45TJ
226,589
An•ly*ls of MOv•n￿nt• In unrn•trf¢t•d fund•- prnvlou• y••r
Balanc* at
1 January
Galns
and
Los89
gnd
Balance al
31 Decemter
Desl9n818d funds=
Exiraordinary repalr fvnd
Cydical Maintenance fund
13.540
15.743
13.540
15,743
29,283
29,283
Ac￿mUlated kncome
172.588
81,140
136,073)
197.633
201,849
61,140
{36,073}
228.91e
P89e 14

LADY HERBERTS HOMES
NOTES TO THE FINANCIAL STATEMENTS
for th¢ yoarènded 31 D￿8mb9r 2024
12. FUNDS
The unrgstricl8d fiJnds are those ￿ndS which tha Trustees are free to use In 8ccordancewith the charitable
objeds and comprlse 8CLumulaled Ir￿ome and deskJn8led funds.
The deslgnat•d repair and mainltnance fijnds a￿ maintained out of th& Income of the Charity In
accordance wkh Charty Commisslon Schemes, Thelr purpose is lo avoid l￿delY fluctU8tlng gxp•nditUTe
on malnlenance, Impfovemonl and 8xtraOrd￿ary repa￿$ Irlxn year lo year.
The endowment fund repr88ents tt)088 assets whkh mu51 be held permanonlty by th8 Charity. InrKJme
arislng on the endowment fund can be used in a￿rdance with the object5 of the Charity and is induded
as uNestrfcaed ItKom&. Any caprtal gain8 or losse3 8rI8ing on Inv8slmgnl$ form part of th8 fund.
13. ANALYSIS OF NET ASSEfs BEfwEEN FUNDS
An•ly•h ol not ###•t• b•tr#••n fund•- Guminty•ar
Inler-lund
debtors and
Net
current
Flxed
Total
Endowment fund
Accumulated fvnd
Deslgnaled fund8
391.218
159,932
(82,4401
33,157
29,283
21,827
4,217
350,605
197,3C
29.283
551,150
26,044
577,194
An•lyolB ol n•t *M•ts b￿n fund•- pr•vlou• year
Inter-fvnd
dablors and
Net
Jrrant
Flx¥d
Endowment fund
Accumulated fund
Deslgn8led funds
362,983
133,808
165.173)
35.890
29,283
31,388
28,135
329.178
197.633
29.283
496,571
59,523
556,094
Paga 15

LADY HERBERf8 HOMES
NOTES TO THE FINANCIAL STATEMENTS
torthe year ended 31 December 2024
14. RELATED PARTY TRANSACTIONS
The Chartty intyjrred 8dnwnbslrath)n chanJes of £4,50012023'. £4.5OJI from Th• General Charfty, Coventry
during th6 ygar.
Cr9ditors lrtlude £nll12023: £nif) due lo The General Charty, Coventy at the year end.
15. OPERATING LEASE COMMITMENTS
Totsl fvture mlnimum lea8e rec•iv3bl•s under non4ancenatrk operating lease aro as follo￿".
024
2023
Land and buildlng¥:
Wthln ong year
3.717
3,578
The ch8dty lets 8 almshous￿ to elderty ladl8s, as long as rents aro received and behavlow criterfa18
met Ihe residents may romaln in th• propèty br the r&malnd8r of Iwe. Oth8Th￿se cottag9s can ba
relUrr￿ on one month's notke.
18. CONTROLLING PARTY
The Charty wa8 under th8 cciilrol of rts board of Trustee8 throughout th• ¢)Jrronl and procedlng year.
Page 18