Rogistsred Charlty Numbgr: 232200 Houslng Corporatlon Nurn￿r: A3266 The Municipal & Owen Carter Almshouse Charities Report and Accounts 31 December 2024 Th• Ilunlcl￿I & (knn Cart•r Alm$hou•• Charltl•s Roport and accounts Cont•nts Charlty Informatlon TnMtea8' report 1nderA￿nt Auditors, Report statement of Flnancial AdSvllle3 of ch￿￿8 in Eqlity 10 11 Notes to th8 account8 12- 17 The Municipal & Owen Cartsr Almshouse Charltles Company Inforniatlon Chalrperson C Evans Secrotary B Norton-srnith Treasurer Y Salomi Trustees C Evans L Holt G Dipple A Calver J Mills - Appointed 0110112024 C Savill - Appointed 0110112024 G Chandler- Appointed 0110112024 Councillor P Cooper- Appointed 0110112024 Councillor B Hitchcock- Resigned 2111012024 R Hucklesby - Resigned 2111012024 Accountants Artema Ltd 18 Kingsburys Lane Ringwood Hampshire BH24 1 EL Auditors Ward Goodman Audit Servi￿$ Limited 4 Cedar Park, Cobham Road Ferndown Wirnborne Dorset BH217SF Bankers HSBC Santander Registered offlce 1 a Kingsburys Lane Ringwood Hampshire BH24 1EL Charity Registered number 232200 Housing Assoclation number A3266 The Munlcipal & O￿n Cartèr Alm$hou8e Charit The report ofthe t￿$t￿5 The Trustees pr8sent t￿r r•p(*t and 4¢￿￿nts lor th8 year •nd8fJ 31 Dec&nber 2024. Nam•, reg5ster•d office and constitirti¢n of tho ¢harity Charity name.. Th& Muniupal & (￿n CarterAlmshouse Chartbas Da* of Trust d8•d'. 6 Jawary 1964 harty rogi$tr?tion nuntsr.. 2322CX) Regi8tgral offiw. 138 Mill Lane, Wmbom8. Dor58t. 8H21 1 LN Tel4)hone numL*r. 01202 8￿?50 Alms and oblectlves The charity 15 govemed by a written constiiub'on in which iti objects arg 8et out. Th• objoct of thè chanty is to prowdt shtltèred accomrnc*Jation to eldèrty peopb in the area of benefrf. Applicaiions art carnfvlly etsA$i¢Jerad by the trustees, taking into con$ider8tN)n the indivKluals Criteria includiru finanoal need, chardcter and links with the local crmmunty. There are currently 39 urFit5 availabb fora￿￿nm¢d4th'Qn at Tr Old RoFeWalk. Hamworthy. Poole, Dorset. The [no￿th￿ occupa*"onal tharge was £398.46, $f￿tiVe frorn Jung 2024. Thore are 4 units &Yalla￿e for occupation at'st. Georggs ￿lkI1ng$. 33 Church Street. Pi)oJ8. Dors•Y. Th• monthly tional Cha￿ was £303.84, affedNg frtyn June 2024. A row rats for ne￿ 0¢￿p￿d prO￿l￿*S sincè Junè 2022 htsw appliÈ8. Thi8 ratè rose to £460.ÉE from Jur￿ 2024 for ORW at*J £345.72 or St. G8org8s,' bring thtr maintenance charges dth88r to the EquNal8nt Fair Rent values ¢f £498.33 for ORWand £390.00 f¢r St. Georgfrs. survtsywj out in 2022. W8have retsrred to the guidance contained in th• Chgrty Cornmis8ion'sgeneral 9UKlan¢è Dn public nefft wh8n ￿¥loWIng our aim and c*je¢tNes and sn planning our fuiure adivths. Revlow of aclivities and plans for the futuro Intmdu¢flon The board of tru5*9$ satisfied th& perfowwnance of the charty duriro year and the p08rtion at 31st December 2024. Thoy eonsider that the charty is in a strong position to ccfitnu8 its aL*iintss duriro th8 ryiming year, and that th8 chantys assèts are ad￿￿ate to fu￿1 its obligattons. The partrujlar ways in which objoctiws hav• been achieved are d8scribed kltrrf.. Del8lls ofintanglble In¢om• There has baen no intangible incc4n• In thJ yèar. Del&lls of fundrtlslng acdwllles Th• have been no fundrai*ing aCtiv￿e5 In the y￿r although many ￿eklY gctivitEs are hekl by the re$￿entS such as txngo 8veTrts and so¢i81 clubs. Aehi•v•fflent ofobjects￿ and revlowofa¢d The Charity inion. Reasonable 8ssuranc8 Is a hEh level of assuran￿, txjt ￿ not a guatante that an a￿lit eonduct6d in acwrdance with ISAS IUK) will alwa￿ dgted a material misstatement wh8n it e￿Sts. Mi55tatemenls ¢an arisè from Iraud orarror and are con5pJèr•d material rf. indivKJualty gr in the ￿gregat￿, they ¢ould reasonabty be exp&ted lo influèneè thè a2￿0Ml¢d8c1sKjnS of user5 tsken on the basi5 of Ihese financial statsments. Audit protsdvres perfomied by the ￿nga￿rn8nt t8arn indudad". 11 l&ntfying and &ss•ssing the deS￿n dfe#ivenoss ofcontro& management has In pkne to wevent and detsct fraud., 21 Under8tandin9 ht)w thoso ¢hargèd with governance considered and addre￿d th• potsntial for overrid6 of Gontrds or othèr inappropriate influenc8 over Ihe financia5 teportirs ￿￿$8.. 31 chall8￿1ft9 assumptions and l￿dgMentS made by management in It8 shjnificant aeeounting trstimates," 41 ldènty.ro and testing joumal •ntrf8s. in partkuLqr any jfAJrnal 8nlrig$ post•d wrth Un￿sUal *c¢ount eombinations,. and 51 Assessing the e)rtent cf ¢>)mpli8rKe with the ￿leVant Iw and regulath￿. A further dèscript￿ of ¢uf responsibilitie8 for ts audrt of financial st8tsm￿ts is 10¢gbJ Qn t Financ4al Rewrting Counc41'5 website at.. bvww.frc.cwg.uk1a￿1t0rsresp0n5lÈIIrt1e$. Thi8 descrpts.on forrn5 part of our 8wlrtorf$ repgrt Ind?pendgnt Au(W$ Roport to the Board of Tho Municipal & Oww Cartor Almshous• Charfttes Us• of our rwjrt Trs raport is made $ol¢ty t¢ tha asso￿a￿on8 b￿rd, as a body, in accordancewrfh Part 4 of th8 Charit*s IAwounts R8ports1 R8gulations 2008 and section 137 of HousiThJ and Rtganaration Act 2008. Our audit work has been und9rt8ken so thatW8 might state to the 8ssociats"on's board those matters we are r￿Uired to stsle to thèm in an auditorfs report for Th) other puwe. To Ihe fullest gXt¢nt perrnth by Lqw, we dc not accept or a55ume responsibilty to anyone otherthan the assodation and thè assoeith"on's board as a body, fer our audit worf(, forthi8 report, orfor the ownions we have ftsmad. Whon an RSHP k* below the thresholds where an audit is required under charity18w. the auditor is ap￿Ints￿ undèr s8cts.on 145 of th• Charitie8 Ad 2011. l M Rfyjd Bsc FCA FCCA (Sentsy Statutory Auditor) for and on behalf of Ward G(*￿man Audit ServiTrs Limtt8d Ststylory Auditor 4 Cadar P*rk Cot*am Road Femdt)wn lThSu*ial Estate w￿nbOrntt, D¢)rsèt BH217SF The Municipttl & Owen Carter Almshouse ChaAtI•s $tat¢m6nt ¢f Flnanclal A¢tlvltles f¢rtho ygar ond•d 31 DK•mber 2024 Income and Expendlture Account Unr88tricted DMlgnatod Fund Funds Total Funds Totsl Fund8 2024 2024 2024 2023 In¢oming Rssourc89 Operating a¢tivth8 in furtherance of ¢h8rrWs obj8ctiv•s Inve¥lrnent inccme 198.725 25,634 198.725 25,634 185,074 30.689 Total Incomlng R88OUKOS 224,359 224,359 215.763 N•t Incomlng Resources availablo for charltable appllcatlons 224,359 224.359 215 763 Charitablè expendlturn M￿ageMent and adrninistralion ol tho charity 292,827 292,827 222.816 T¢lal Resources expond•d 292,827 292.827 222,816 N•1 kncomlng Rwourcès bofor• Tr•nsf•r8 168,4681 168,4681 17.0531 TAnS￿r8 ￿twOOn funds :. 14 49,093 149,0931 Nrt Incoming Resource¥ lJefor• rova￿atIOnS and In￿lMent a$8ot di$po8al$ 119,3751 149,0931 168,4681 17.0531 R•alised gains on the disposal of inVBStm8nts Unr0811s￿ gain8 on 1nvesbn￿ts in year 3,190 3,190 19.115 15 19,115 19,270 N•t m0￿M•nt In funds 116,1851 129.978} 146.1631 12,217 Total r•vonuo lunds brought fovNard 27,396 1.039,180 1,lJ87,076 1,054,850 Totsl rovenu• funds ￿rrI•d forward 1009,202 1,020,913 1.067,076 Th8 net rnovement in fund5 rgfw*J to a￿)ve 1$ the net i1￿ming ￿$￿r¢•$ as defined in th¢ St*grnent ol Re￿rnrWnded Practth forAccounting and Reporting issued by Ihe Charty commi68ioner8 lor England & Wales ¥nd is ieconuled to the totsl funds as shown in the Balan￿ Sheet on page 110$ requirad by the said Statement. All actlvltl&* d•rlv• from continulng op8ralion$ The notes and scheduh to thg Statamvniof Flnanclal A¢tlvltlo8 on pag￿ 9 to 17 fo￿ an intsgrnl part of tho8• accounts The Munlclpal & Owen Carter Almshouse Charltles Ststsmont of Changes In Equlty for tho year ended 31 De¢embgr 2024 De81￿ated funds lftve8tm6nts Unr•strl¢ted revaluatlon r•s8Th reserve Total As 1 January 2023 819,242 199,762 35,855 1.054.859 Surplusl{D&ficlt) forth8 ffin8ncial yaar 7.053 ,053 Other ctsmprehensive 1ft￿me for the fin8no81 yèar 19.270 19,270 Total eomwehensivè income for the fin￿ela1 year 19,270 7,053 12,217 Transfers I9￿) 820,148 219.032 27.896 1,087,076 A¥ 1 January 2024 820,148 219.032 27.8 1.067,076 Surplu81{Deftill for the finan￿$1 year 63,974 63.974 other tt)mprehensNe income for the flnonryal ye¥ 19.115 19.115 Total ￿mprehenSIVe incorne forthe finandal year 19.115 63.9741 144,859 Transfers 149,0931 49,093 As at 31 December 2024 771,055 238.147 13.015 1,022,217 10 The Munlclpal & Owen Carter Almshous8 Charltlas Balanco Sheot as at 31 December 2024 2024 2023 Fix•d ass•ts Tangible assets 243.332 243,332 240.584 240.584 Curr&nt a￿ets Debtors Investrnents held as current assets Cash at bank and in hand 10 513 778,537 43,586 822,636 3,715 859,118 10,804 873,637 Current liabilitlès Crèditors dug wthin one year 12 23.227 122.5381 Nol current assets 799.409 851.ClJ9 Totsl ass•ts less current Ilabilities 1.042,741 1.091,683 Credltors: Amwnts dua after more than c￿e year 13 121,8281 (24,￿ Net assets 1.020,913 1.C67,076 Capltal and r•sOT¥08 Designated lund8 Investments revaluation reserve Unr&stricl￿ revenue reserves 14 15 16 771.055 238,147 11.711 1,020,913 820.148 219.032 27,896 1,(￿7,076 C Evans Chair handler Trustee Approved for $Kgnature by the management ￿MmIttee on .. ZF. 2S Thg notes ond 8ch•dul• to the Statgm•nt ¢1 Flnanclal Actlvltlés on page8 9 to 1S forni an Intsgral part ofthese •¢eounts The Mmlelpal & Owen Cafter Almshou8e Charltlos Notes to the Accounts for thè year ended 31 December 2024 8￿Mary of SO￿￿cant 0¢¢0untlng pollcl•8 Generallnf0m￿t1On andb8sls ofpryr4110ft The Charty cOr￿1rt￿tes a publ￿ benefit entity a5 dthed ty FRS102. The financk81 yt8ternerrts ha¥6 b Prepar￿ in accordan￿ wth Accountiw and Reportlng by Charit￿$,. Statement of Racommalldad Pra¢tice applKablg to Charrt￿$ preparing their accounts in accordiro wtfv the Finanaal Reporbrrfj Siandard applicab￿ in UK and RepuNiG of lTrknd IFRS1021, th8 Slatement of Recornmended Practice for Soaal Housing Provhjers 2018. the Accounting Dire￿I)n for private registe￿￿ provwjgrs ¢1 $o¢ial housing In Ergland 2022. Th8 finanual smements are also p￿pa￿d vnijer the requirements of the Housing and RegeneratiDn Act 2008 and Charl￿5 Ad 2D11 and LJK Generalty A¢¢ept8d Pradice. Th? financial statemefftts arg p￿pared on a goin9 (a)nc£m bask, und8r the h￿t0￿C￿l cost convention 88 modrf*d to in¢lude c*rtain rtem$ at fair value. The ffnan¢l¥l stalem&nts are pr￿ented In $terfing which 1$ the luncbonal currenGy of the charity The $￿nifKant accoun￿"ng polices appl￿￿ in the preparat￿Tr of Ihese finanrA81 statements arg $et out bdw_ These polk*$ have been c4N%lstentty appl￿ to ￿1 years present￿1 unless ot￿[WISe stated. The charly SORP IFRS 1021 ￿ ffi• previ¢u$ yo8r. Accountlng conventlon The financial $tatsmenls are p￿pared on a going ¢oncern basks, undèr th• his1or￿1 cost Convention as modthed by the revaluation Df freehokt land a[￿ buiklin95 and fred a55et inv051m8nts Incom• r•¢ognillo All Incoming resources s￿ In¢lUd￿ in the Ststemenl of Financial Activities ISOFAI when the tharty B ￿galty 8￿titled to Ihg income after any perf0m1￿£t ¢ondf(ions havé baen met, th8 amount can te rneasut&J reliabty a￿d plobab￿ that the incorne V￿11 b& re￿i￿ed. No amount L8 InCl￿ed kni Ihe financlal ￿ateMen1$ forvolunl•or tirne in linè vKth Ihe SORP IFRS 1021. Inv•sthwrtincome Inv&slment in¢orne 1$ eamed thre￿Jh hddirtg s5￿￿ for investment purp08È& $uch a$ shares and property. It IndUd￿ diviEt8nd$, interesl and txcupatv)nal charges. Interest inrxjme is recognised using the effectwe interest method and dwblènd and occupat￿nal char9e$ intxjmè 1$ re￿nised as the tharW8 right lo receive payment eSlabl￿hed. Recognltion of Ll8blllll¢s Lmiblmtos arts rwnised on the atrAualB ba$1$ In ac¢ud*¢e with nomial ac¢ounling Prin￿￿$, moJffied wher¥ necessary in aeeordance wrth the guwjanca given in the Stalement of R8commendad Prac¢irA for Ac¢ounting and Reportin9 L8suèd tsy the Charity Commission8r8for England 8 Wak•$. 12 Tho Munlclpal & oV￿n CarterAlm8hou$e Charltlès Notes to th• Accounts for th• year ènded 31 Doc•mber 2024 All •xpendkure is acC￿Unted for on an accru8Ls ba5k4 and has been dassrf*d under ￿adIng$ that a99re9* all co$ls relat￿ to the categDry. Expenditure L8 recogni%ed whor• Ihor• is a *al or t￿StruC11￿ oblyaNon ta rnak• payments to third parN8s, it r6 prebab￿ that th• $•ttkment *ill b¢ rgwir¥d and tho omowt ol Iha oblbJaliDn ¢an be mea$ured Tglk8bly. Charitable experJdSture indudas •ll 1xponth￿re threctly ￿10￿¢ lo the 0tr4gcts of the charity and compri8es th8 folloving vths in fuFtsrnn¢¥ of Iho chanfys objectivos The eosts of actNlth% In furthpranc8 of ihe charitls obleth.ves repr￿n1¥ Ihg ¢OSt of seNic85 aThJ anclLgry tsadiry costs Ihat have be?n Incutt￿ in ¢han¢abb actMI*S. Man8gemenl an¢1 admirnstration oftte ch8n Manag8m•nt and administration costs represent ex￿￿lI￿1re Incurred in the management of tho ¢haritl$ assèts, organ&sat￿nal all))￿l$tra￿on and c￿pIlanCe Charitab￿ and sl•tutory rgquiTOmants. ¢atiDn ofcosts wim typgs ofr•sour¢es expet)ded Admlnblrafv"on exFenditure includes all *xpenditur6 not directy related to ¢harlabl* ai*vty. In respecl of certain items of expendtture IL a matterof judg￿ent 8$ to whether SUGh item$ are dlrect charrtable eX￿ndrtur8 or arn Administratwg. and thp Trustee5 have appli&1 what th•y ￿n$¥jor to be rea8oDabb iudgem8nt5 in apPDrth￿￿ such eosts. Allocatlon Of costs wlthlft typ•s of r•sOurC￿ gxpgndgd AdmlnK8tratKJn expgrKIiLure includp5 all expendrturg not direetty related to direct char￿ats￿ aclnity. In respect of tain itèms of expendrtur• it is a matkr o11￿9&￿eTrt as to whether suc* il*m$ dire¢t charitable exF4gnditure or ale adrnintstrntive, and the trustees hav8 applK8d what they Cons￿er to be re88onabk judgements appOrt￿nIn￿ suGh ¢osts. Realls8d 8Trdunr••lls•dqaln• Real3ed gains and losses are IrKludod its the a¢¢ount8 on the date at which a contractual obligation 1$ ertèftd inlo. Unr¢altseO galn8 and loss•s are wmputed by r8fererKe to the maEket ¥￿u8 of tha inv•stmMts at t￿ balancè sheet date, c*Jmpared lo th• brought forward wsl or ¥a￿ation. and gain8 and105585 arBing on simiiqr ￿te90￿$ of investment6 are n8tted off. Llaled Investrnertts ha¥£ boon Induded in th8 b8lant* sheet at th•tr mid-m•rkotvalu& at th• y•#r end. Tan9lble ftx•dass•ts Tgrngible ffixed assets arn st8t•d at cost depreciatM. Item$ of £40) are not opitaltsed. DepreThathon ha8 bgen provkjed at the followirvj rates in order lo wrrte off the assets (kn t￿1r •xpefAed residual V8lu• l over estimat￿ u￿ul e¢OnOm￿ IN05. Fhtures, Iurni8hing8 and equipment 3 years slralym line Hou*"ngpmpertloS Housing propertie8 stated at Q)8t ￿$5 accumulated depreciallon. and provision lor any imp8lmient. Th8 h¢using property 15 dmded inlo those rnajor components whlch arts consldored to haye 5ubstrdDtially drfferent ustsful ￿OnOMiC Iwes. These ¢ompon&nts aw•then dep￿CIated over their individual usèfvl ecortoml¢ lives. The particu￿[ c4mpon?nts Klentffied bythe Tiuste85 and their depreuation rates are.. Land Core Bulldkng Bathrcom$ Boiler I hBating Electr Lift 25 >*ars 15 year¥ 2Q years 25 years 100 year5 60 years 25 yea 25 years Windows Kitcher 13 Munlclpal & 1>*4•n Cart•r Alm8hou8• Charftl•s Not•s to tho Aeeounts for the year ended 31 December 2024 The charty15 an exempt charty withln the rneaning of 5rjEdU￿ 3 of the Ch81th8 Act 2011. Rental$ payabk in ￿SpeCI of operatlng l&ase$ where substantlally all th• b•n8fft8 and rk%ks of ovmarshw r•main wSth Ihè l&ssor. are charged to lh& Statement of Flnan¢L41 AthrtEs as inturrtd. Fun(ts Unrestii¢ted in¢om¢ funds ¥e general fund$ that 8r• availablè for alth¢ trustees th%retion In fwtheran¢e of the objectNes of the chaiity. Dvsginated luTras are unre5tri¢ted funds set a8bY8for purposes atth* d￿%￿•l￿Th of lh• liu$ts•s. Roslrfthd income fvnds aw thesè donatèd foru$8 in • partiwlar area orfor $pecfft purpos¢s, lh& ustr of which k% ifrthded to Ihat area or Pu￿08e. Futher &Wanatton of Ihe noluro and purp￿ of eath fund ks inchJd•d in Ihè note8 to th8 financ4al statements. Wlndln9 up or dIBsol￿l0Tr of th& charfty If up)n wlndin9 up or dis$￿Ul￿)n of Ihe charity thare remain any a￿ts. after the $ati$fa¢tion of #ll debt$ and liabl1rt￿. the a$$ets represented by Ihe accurnulated lund shall ￿ tfanslerred tts some tsth•r chaiilabl& bth or bodks having SIMI￿r objects to the cha￿. Nat Incomlng RmOur¢￿ b•lor• tranthrs 2024 2023 ThlB Is slknl aft•r¢r¢diting:_ Rov•nutrTurnover from ordlnarya¢tlvtw 198,72S 185.074 and aft•r ¢harylng: D•prodaUon 01 tr14ned fixetl assets 2.018 2.018 Soc581 houolng ￿rnt)¥orartd eost8 2024 2023 Rgnts rec*Nable excludir4J 8eNice charges Rèvènue and capltal 9rant$ iecewable So¢Aal housing aetivity expenditure Operating Surplu$ I Idefi¢lcl Voidlosses 194.024 178.134 1228,6151 1170,4701 134,4911 11,940 Sthmant ot oxp¢nw pald to tru$iw or ¢onno¢t¢d persons Expen$e$ paymbnl8 to the Trustèès in tIE year- £nil 12023.. £nill. Analysls of Incomlng mour¢•s and analysls Of managernont and admlnt8tratlr)n costs Th• detaiL4 rnqulred by thÈ stal￿ent ef Practica for Accouniiro ana RI￿rting k88wJ by the Charty Comm$ss￿ners for England & W8188, shown in th8 Dgtsiled S¢he¢Jule to the Statemant of Flnan¢i•l Athlles on pages 15 tD 16. Inve8tmert In¢¢the 2024 2023 Investrnent inGDrn8 30.689 30.689 14 The Munlclpal & Owen ¢art•rAlmshouso Charltle¥ Notes to the Accounts for the ye•r Ond￿ 31 Dac•mber 2024 7 Staff Cost8 and Emoluments 2024 2023 Gross salarks and wages Empltyo1'¥ National Ir*uArt• C•)nl*butions 29,873 27,653 29.873 27.653 Nwnbers of fiJll lim¢ ¢mpbyee8 or ful timo ￿ul¥a￿￿ts No employees recgived emoluments in 8X￿sS of £60,000 There wera no fees 01 othE*r remuneration payable to Trustegs Thara was an arnount totalling £Tril12023.. £4411 patd lo Tll￿te¢ spouse5 in th? yèar. in respect of work carried out lor th• fvlur• sile developmènt. During Ihe year ended 31 December 2024, the tharrty paid É8,19> for accountancy seMc*s to Ave￿1# Tax and Accountancy Lkl. g cornpany which ha$ a directorwho 1$ also a trustee of th& tharty. Cos¢ ofAudliorand Oth•ra¢cou￿1ng s•Mc•s 2024 20Z3 Book-keeping 8￿j Audrt fees 9,699 6,282 1S.981 6,043 5,800 11,843 Tanglbl•llxed 4$89ts O•vok*pm•nt at Old Rop• Walk Alrn$hou8e bulldlngB Land at Corfe fumSBhing8 & équipm•nt Toial At 1 January 2024 Add4tr0ns Ai 31 De¢ember2024 56.e62 4.199 60.861 187.875 1,5C 3,5B8 565 4.153 249.625 4,764 2S4.389 187,875 At 1 January 2024 Charyefor Ihe year At 31 O•¢•ml)8r 2024 5.619 1.873 3.422 143 9,041 2,016 At 31 De¢¥mb8r 2024 00.861 180,383 243,332 At 31 December 2023 56.662 182,256 1.500 Al a8$9t8 ar• used forthred ¢harhable puws and there arg ng Inal￿nab￿ or ￿￿O[l¢•I ass8ts. 240,584 Alm$hous¢ bulldlngs cornprI￿ ofr. Old Ro Walk. H8mworthy SL Georgos Buildinos, Poole T¢)tsl Cost ValuatKJn Grant Dapreoation 221.219 20,￿0 188.7521 6.D80 146,3B7 30,408 5,0 251.627 2S,QOO 188.7521 7.492 1,412 33,996 15 Mvnlelpal & Cart•r AlrnshouBe CharStles Notss to th• Aeeounts for ttw y*ar •nded 31 December 2024 10 0el>tty¥ 2024 2023 Malntenanc8 chafgès l (pawj in 8dYancel PrepaKI eX￿n$0 Rem owed from land at Corfo PAYE and Nl 14,4391 11,7631 4,791 613 3.715 11 Investments ￿ld a8 cwr•nt aM•ts 2024 2023 Charks Stanley portfol National As50riatitsn olAlmshouses Common A￿Umulation lund Ng1ion?l As$￿4110n of Almshous6s Cornmon Incomè fund Charlbès Officlal- CCLA 280.263 359.175 77,103 61,996 391,380 232,S09 74.603 60,626 859,118 12 CredltOTS: amounts falllng due wlthln ong year 2024 2023 t)rtgage loaTr PAYE and Nl Acthued expenses T￿de cr8dltors Net wages 2.5C 2.5CIJ 15,536 11,050 751 22.538 13 Amounts du• aft•r mortt than onF year Included In total abovoare analyAgd rtgage 21,828 24,608 21.828 24,608 The mortgage ban Irom Berough of PeolÈ ia wured by a charge on the almshouses al OVJ Rope W81k, Pool¢. Interest k8 Gharg&s at an annual ratè of 0.7% the capital 1$ due lor repayment by Augusl 2029. Munlclpal & Owen carterAlmBhoU￿ Charfth$ Not89 to th• Accounts for th• y•arond¢d 31 December 2024 14 D￿Ignat￿ fvnds Property development fvnd Extsa. ordlnay rgpalr¥ Land & buSfdlng Inonvllquldl Tota Al l January 2024 Movement$ In ygar At 31 De￿￿be[ 2024 so0,￿0 150,CNJOI 450,WO 185,000 155.148 907 156,05S 820.148 149,0931 771,065 165,OOD Total da863r￿￿ ￿ndS 771,055 Th•$pxlfi¢ purp0￿10rWhl¢￿ thgfund$ ara to b• applled are as follovd: The Capital Re58rve Fund r*pr•￿Thts Lmreali$ed gain$ owurring on t￿ ro¥alua￿.0n of th? invg$tm?nt8. The value in¢rea8e¢ by £19,116 12023 MietsasÈ'. £19,270) ow ¢uJtse of the ￿ar and fhSs i& reflected In th reserve Inote 19. Thg 'Land & buiklings rese￿￿5. Eonlinutr lo refie¢t the non Itqvkl element of the charty$ res&rves. This presents the cost of the prop8rtie5 which is financed by the TrusY8 own re$oUr￿. movement of £9)7 In year roprg$ents Iha amount repatd on the loan used to a￿ul￿e or wllprove Ihe TnJ5Vs propert￿, les5 the dep￿￿8t￿n Chargg. The Property Development R&setve was crealed lo refl￿1 the h)ng tem ￿rn8 of thè eh•rity. Thg budge¢ for 2024 does not attount for any mov&m8Tht into the fund and %MII be r•vtewed at the twt ygarend. £fjO.000 of the balane• c8nfjed fonvard has t¢on utili$gd. ￿8￿ng a WEmaining balan¢& of £450.Cx)O. This is to equ ¢omF¢nsalg for thè buikl eost to date {up lo plann1￿ perniissKnl which lotalkgd £60.861 aftor lh8 intsJrr8d ex￿ndrtUr8 of £4.199 towards the buiklin9 in the year. The amount held within lJnre5trictsJ funds, L8 rev￿ •ach y•ar and r&pr￿n1$ a Sensib￿ buff•r lor ongthng MaIntenar￿ to supportthè ¢hariV$ current actni1t￿s. Th& Extraordinary Repalrs Res8r¥e stand$ at £165,000 and has bBen tOPP8d up in thè htar as sIgn￿eant expenditure on rennovatioThs ha$ continue¢ beinging bringing the standards of the properly up to date. Th8 ¢onsider that the remaining 3mount held in thts reserve fund renlains suffK*ni for the meaffline, wfth no other swJnrficafit oxpendilurt planned. ThB fund 18 considered a5 an ernergen¢y fvnd onty, for rnalor repalr work. wth ongoiThJ renovations bBin9 funded direclty by the unre$trieted re$eNes tg maintan an element of $h)pltCAty to Ihe accounts. Rea80n¥ fgrtr•nBf•r5 of fund A transfer has been made from the Pi¢porty Daveknpment ReSe￿e lund to Ihe unrestrlcled r8venua reserv• fund lo fund cBshfiowafid reialn a $urplus balarKe in the unreslrf¢kd rov¥nua rosgrvefund due lo a deficft in thB ar. Thi5 deficit has corngfrom continue4J on modomismw and renovalng properties. 15 InvoJ¢monls revaluatlon re68rva 2024 2Q23 At l January 2024 Arlsing on rev8luatiDn tho year At 31 Decemter 2024 219,032 19,115 199.762 19.270 238,147 219,032 2024 2023 At 1 January 2024 Trdnsf•rfrom in¢om? and expEnditure accxjunt Transtsrfrom land & buildlngs reserve Transfvrfrom extra4)rdinary repairs fund TraN8f8r to extr&ordinary ￿paIrS fjjnd Trar6tsrto prop&ty development fund Realised gains on ￿ disposal of irwe5tment8 At 31 D9￿Mber2024 27.896 168,4681 19071 35,855 (7.0531 I￿6) 50,000 3,19) 17