CTharityrrgi51rntI( numb. 232743 Benenden Almshouse Charities Ann1 Rqxrt FtnanLYal Stst¢ments the Y¢aT Endal 31 tkcanEv 2tr24
Ben¢mden Almshouse Charities Contents (continued) R¢f¢Mc¢ and AdminisrMtstDdails Ito2 3toS Stat•nent of Trusttes Resp(SIbIlIti£$ IndePEndt Audit< Rry 7t09 Ststementof Financial AL*iviue5 10 Balanc£ Shttt Not&% to the Firtan¢1 Statanmts 12to20
Benendeth Almshopse Charltie8 RefeTrnee #thd Administrntive Details ChAirn Rthin Dall Holmes Trustvs Tvho rved In 2024 Rthin Da1 Holmes Janel Beattie Jthn Burhge The Revd. David C¥•nman&r Mary Cruse Bl•ir Gullthd Cdin Hlym Ari8nwM Neve Other Office DeLKvah Jthkins Clak Chirlty Reltstratlon Numbpr 232743 R¢tered onice The Rttttyy Th¢Gre¢n Benenden Crnt( Kent TN174DL Bank•r4 Lloyds Bank pk PO Box ICMJ) CSU Charltrffi Pla Charltth RLd Hompshire SPIO IRE The Charity B*nk Limittyj Fc65e Hwse 182 High Stred Tl1d8¢ TN91BE Audltor Mannin8 39 Hi8h Stre Battle Easi Sussex TN33 OEE
BeneDden Almshouse Charities Reference and AdmiDi8trxtfve Detaib (continued) Other Reference and Admlnistr*tlok Detslls QuAMtty Surv¢yors Daren Sill & AsKKiates 66 Hockers Lthe Detlin Maidstone KENT ME14 3YII Project M8nagemeMt Logi¢ PM (N Baster) Suite 15. MaidstCe Hcrt Maid5¢on¢ KENT ME15 6AW
Benendem Almshouse Chgrities Trustees, Rwort The trust¢es present the4nnuwl rqKrf¢ tf8dher with the financial st•iemmts dadItor¢ repm of the Charity ftr th¢ r ended 31 Decanber 2024. The financial staments have i¢rt prepAred in acojrdance with the accounling policies stt out in the n(Acs to the financi statrnts and c(Thply with theth8riWs rruA ded and applicable law. Constltutlo The Charitthe Trust Was eablISh ty • TnL4 Deed d•1 12 Jartuary 196D in iYd¢Y tty 8drninisty the Charities formerly knowi as The Thlxn Charity The FrA)ffee Charity. The rnana8cmcnt of the Trug is the resp)nsibility of Trusm apinted f¢ their rdewit skills and approved by the Benenden Parith Council. ro8ah¢T with an eXfficI0 Tree ]ng th¢ R¢¢ttr of Benwdffj. Thechariry is rt to hive re&YULd truses with I range rf41FYqJri•teaThl Tr¢ry skill& ObJectlveJ and a¢tlvltl The principAI d>jed of the Trug 15 lo provid¢ in the fwm of NJm5hcwes fw pcw ( needy persons with SL8nificsnt residents81 links to Benenden. The 08reed Prr4 C4%nprises 12 almshouses of var>in8 5iZ¢S to provide accommodation f(r arrange of C1]fyIn8r¢sId Followin8 the un5th¢dule41 WA11( of 12 th4r41in8s at th¢ b¢8innin8 of 2025 signific1 number of applicants with varying capacity needs m&de appli(5 ftr resid¢¢. Thi5 ¢XPBri¢n¢¢ Bive5 vuy clear evidence th provision of new mcdem dw¢S1in85 W711 Ix srw8hi f( owati(m early in 2026. In 2024 following d¢tsiled spe¢ific¥iiw& Fund roisD8 achi1 firm by the sale of lind C8nham Homes by receipt of £2milliL¥L from Canham5 as desi8naitsl contrlacw. kn land. fry them ¢0 c(ffis¢nK a mercial proj of 13 dMtllin8s.. And seedIY £495.c was received #s a dMatiaL England to be followtd by a seccLd inslalrnffll of £165.0fy) %th¢n th¢ almshouse proied Iw been rmplded. Th¢sectiLm 106 agre has been wYopri•tdy si8ned by the 3 rvrtlan¢ arml mdI p4rtiesto this A8reancnL It 1$ ex1d ihe alm$hse 0Jea thi¢h bryan sile in F¢truary 2025 will ir cornplded in the sum £2,312.10 indudin8 12M(thS rd¢nii(ffl of a finAI in¢¥nurt so it is expecd vrIng will not b¢.
Benendeth Almshou Charities Trnstees, Report (continued) Ob}edlw& slrntexia aMdAdiwiia R¢vi¢w Policy ObJ¢¢¢ives D¢velopment Pla The AlMshce SeaLr remainsexernpt frcffl th¢ Ri8ht enti11L Lambert and FL¥¢er wve en88ged io prIde •s5istsnttduringthec(ffjtrnrt tendeJin8 pr¢&5. A Prrieet Mana8er app)inied to rewestht the chvity in wlrxt meetin8s and mlIlY1n& progre55 for onsite develcymenL ert develqjmcnt ir8ins The prerequisite Iwre•uw re]a¢inB to ecolvdy. ro1 tree plaNin8 . fenein8 of r¢tain encirclin8 Strip& thedetaild de5i8n irief and wcvariaii¢m by thedevel¢w over the acceptability of the nullifieatirm of aBr¢emrni made ft the draina8e of Sthrm wter fr(yn the near Vere Mepdo dev¢lopm¢n13nd ¢h¢ appointment of Canham Fk¥nes resulied in 5peedin8 up the Pr bjt there renJain•J Stttion 106 condiiiws wjld be si8ned off til Iwe 2024. Volds In the autumn the disabled pani of3 Thun Cdts8es iBrl Ivith her rd•iiLmS that the w•s wiable to occupy ihe very small pMises os sin8le cttupanf and vK8ied. Ai the t¢ginnin8 of 2025 the r(cupt of 6 Feoffee Cthages died after i brief illness. Mr Ha>Tran unden(K& a vuy rrfurbishm¢ni of ixth prani5¢5 and th premises were ready to c¢cupy ai the end of Marth. It is di51indly that a third th1]in9 may b¢ w•cani in the4rin8of 202S. bllc bettefit In settin8 the charity's obiettives and Plning IU aaiVifi¢5 the Trtss h•Y¢ 8iven considern11 io the Chirity Commission Buidanct public benefiL The irusttts eonfirm that they have ¢¥ffiplied with the rqulremthts ofxdion 17 of the Chariiies Aa 2011 ¢0 h•v¢ due rewd to the public t¢nefit 8uidantt published theChariryCunmiSsi ftr EnS1w1nd Wale5. Strn¢¢ure• iovernJ¢e ind mM8emeHt Rl¥k MAp8gemen¢ The Trust¢¢5 have ¥ risk mana8anaJt strate8y whith c(npris¢5 IMgoin8 miew of therisks the tharitymay f•¢v. the establishm1 of sysms and prttedures ¢0 miugAtr the identified risks: and the impIementhti of prwedures d¢signed to minimise any imp•Ll thc tharity sh(wld those risks m¢1115 This role is •lso covertsl by Mr HayTll8Th I% manyj a Br d¢Jl of urg•tt pro8re5s of refishment to minimize the of void5.
Benenden Almshouse Charities Trustees, Report (continued) Fln&nf181 revltw Pollcy oh reserves The Trustees have resolved that their on80ing reserves l1¢Y should be sueh 85ide from major pital developm¢nt. re5erve5 to ¢hc value of a minimwn of 2 years maintenano COntrittIOnS should normally b¢ ring-feneed (o provide for loss of incorne in the whole Of one pr(4)erty plus the c05¢ of refurbishin8 2 vacant acwmm(th¢ion dwellings simultaneously. At the yeAr-end free reserves were £45.593 12023: £50.142). The currmt objective of a tsr8et for reserves of £IOO,000 has not bttn met. b¢¢ausC 5at15fyin8 the condiLions of the detailed planning consent for the almshouse building proieet has extended the prdiminary outlay over 8 longtr peri(xl ¢han cxpected. In part ihis glso irose fr¢yn ¢onsequeTh¢ial delay in receivin¥ pA)ment for the tsle of land to th¢ intended developer for the y1¢ of land for commef¢ial developmeni. The trustees have miinlaind serisfaetory ndS in A¢ccssiblc invtstments and other cash holding& The mijwr re¢ommenditis of quinqumnial survey did not revealed any 5ignifican¢ issues and the pro8ramme of maintenance is being sprtsd over 3 ye4rs. Trn4¢e5 have agreed 4 ¢apitalisRticn policy of Anythin8 over £SOO. DIsclosre of lThfonMllon to iudltfjr Each (rust¢¢ hjs t8k¢n st¢P5 that they oughi io have thken as 8 tru5te¢ in order lo make themselves iwore of any relevwnt audit infcmation 4nd to es(ablish that ihe charitys iudi¢or is 8re of that inform4t1¢. Th¢ trus¢e¢s confirm that th¢r¢ 15 no r¢levAnt infom?aiion that they know of and of thich they know ihe auditcf 1$ Un4re. The annual rew will be opprov¢d at the AGM by iheTrust¢es of ihe ch¥rity on 8th July 2025. Plan$ for futur¢ p¢rlod$ Alms oNdk¢y oblert1s1orfy¢•pepe0 Trustets Two Trusttt5 have carried fc¢ward protract and detsiled itsvolv¢ment in ihe process of reachin8 l>J¢h slructural 4nd financial llrrangemts which have 5ubstanlially PT¢sented repeated barriers and they hav¢ proved successful in minimizinB ihe Weniially mueh 8regier fte5 wthich could otherwise have Eeen payable to ex¢ernal professionals. Mr Burbage has applied his most relevant ski115 and experience of project Developmeni gnd Quantity Surveying and hi$ wmmitm¢nt has b¢¢n admirably pragm¢¢ in pro8ressin8 agreements with CanhAm Homes. Mr Gulland a5 a recently retired senior partntr of his firn) of Solicitors and Chairman of National Almshouse Association progressed arrin8an¢nts of joint maiters wilh skill aftd individually towards ¢kninin8 8 Homes EnBland projK¢ grant. TIVCeS have a8reed in principle to review the Tn(¢¢ body gnd Cl¢rk5hÈp when the project 15 complete. Key matters will include the added adminisirAtive time 8rtd scope th*t a clerk will be asked to rnana8e for trustees of larger organisiti¢ And the advancing ages of current irustees who in Sne Cases have no obvious successors or deputy status. Continuity policy is necessary to relieve Mr Haym&n of dAy to day maint¢nan¢e by his own han(b and ¢ov¢r for hbs¢nc¢. Pa8e 5
Benenden Almshouse Charities Statemenl of Trustees, Responsibilities The trusttts are responsible for preparing the tnceS. report and ihe financial staiements in aLtordance with th¢ Unittd Kingdom AC)UntIng Standards {United Kingdcm Generally Accepted Accountin8 Praetiee) and appIlb]e law and reBulations. The liw applicable to charities requires the irusttts to prepare finonciil statements fv ra¢h financial yur which give a tnJ¢ and fair vtew of th¢ 5¢8¢¢ of affair5 of the d)arity and of th¢ incoming resources and applIlic of resource5 of the charityfor th8t period. In preparin8 these financial sthtements the t$t5 are required to.. s¢lcct 5Uitable accountin8 poILCIC5 and thcn apply them ccmsist¢nily: observe ihe mechods and principles in ihe Charities SORP: make judgements and esiimate5 ihat are reasonable and prydenl stsie whahff applicable accouniinB andardS have be¢n followrd subject to any material d¢p•rtyr¢5 disc105ed and explaind in the financid staiements; llnd prepare th¢ financial ststements cffj Ihe 8oin8 conc¢rn bas15 unless li is inllpproprith to pr¢sum¢ th¢ charity will continue in businc55. The trustees are resp(Ible for keepin8 proper accounting records that di$clc6e with reasonable accuracy at any lime ¢he financial position of ¢h¢ ¢h4rity and ¢nabl¢ ththn to ensure ihat ihe financial sr&tem¢nts eornply wi¢h the Charitie5 Act 2011, the Charities {A¢counts and Rcports) ReBulAlions 2008, and ¢h¢ provisions of the ¢onstituiion. The trustees are &lso responsible for saftguardin8 the issets of the charity 4nd hence for taking reasonable steps f Ihe preventic and deMI of fraud and other irrryulariua. The truste¢s ¥r¢ r¢5pon$ible for ihe mginien4ntt and ini¢srity of ihe corporate and financial IntsmatlL includal on lhe charitable eompangs websi¢e. Legislati Bovernin8 the preparaiion and dissemina(ioJ of financial stdtemen may differ frcffi legislation in other JurisdictiC5. Approved by the trUee5 of the charityon . Si8ned co its behalf by: Robi lth Holmes Chwirnipn ind Trustee Pp8t 6
Benendett AInOSe Charities Independent Auditovs Report to the Memb¢rs of Buemden Almshouse Charities OplDIoD We have audited ihe financial statemcnts of Benenden Almshouse Charitits (the 'charity) fw the yur cnded 31 December 2024. fiich cL%nwi5e the Slement of Finanaal A1vIti4 Bal•nce Shee( and N(Aes to the Financial statemen including a summary of significani aCnting i¢l¢s. The financial rerKrting framewfsk that has been applied in iheir Prepar1 is United Kingd{ ALYoJntin8 Stsndard& comwising Chari(ies SORP- FRS 102'The Finanuwl Rewting Standard applicable in the UK and Republic of Irel& and appliuble law (United Kin8dom Gener3lly Ac¢ep¢ed Accwniing Pr&dice). In q>iniLm ihe finartial sthtemfnts.. give a true and flir view of ihe of the tharitys affairs as ai 31 D¢¢unber 2024 and of its ineLknin8 re50urc¢s and applicati of re5Crtwc(4 includin8 its ineixne and exptnditurq fw the >Y4r then ended; have been wwly prepard in a¢cwdanc¢ with Lknithd KinBdtyn Cmefally A¢cept¢d Ar¢18 PractiK and have been prepar&1 in #Lrrydance with the requiremcnts of the Thwiii¢5 Act 2011. BAJIS for oplTrlt We conducted C iudil in •¢tyxd•nc¢ with lniernl( Stsndtrds cffl Alung (UK) (ISAS (UK)) Ind ¥pplicable 14w. Our re5pcms1lltles under thcse standarth ore fvrther in the auditsr re5pNsibilities ftr the audii of the financial M•ments Secti of rwL We are indwdcni of the thariry in accordance with rhe ethic41 requiremthts are rclcvant to our ludii of the financi ststefflents in the UK including the FRC'S E¢hial Sthndu4 and we have ffijlfilled our h¢r ethic resprffi5tbilities in •cuxdance with these requiremen We believe Ihat the audit ¢vidence we have cètaitteA is suffici¢nt and pwyie 10 provide a h5is frr (wr opini(m. Conelwlons rel•lln¥ to ¢M¢¢rn In auditin8 the finaneial Matnen1& we have c(¢1 tha¢ th¢ truse5 use of the 80in8 C(M¢Es15 of accountin8 irt the pryratith of the financiaj is •prI£[ B&sed on the wyjrk we hive perfornid, have identified any mawial uncrylainibes fingto evait¥ eonditions ¢h¥L individuplly cff wlleclively. may signifinI the thritys ability Lo continu¢as a going oncern for a period of at least I%1ve Mth$ from when the 0ri8in81 ffinanci slatements wrre aythorisa for iswe. Our responsilitieS th¢ resp(msiiiliiie5 of the trustres with r4y&L wgoing ¢(ffittrn are destrib¢d in the relevani stttion5 of this re Other infornAtlon The trustees are reS$7b1¢ fty the (rfh¢T infwmliiL. Th¢ (rthu inftymaliw Lxfflprises the Inf(ThI1 induded in . the annu&l reporL ¢xher than the financial MaL¢mLs and auditLY'S rewt therein. Opini¢ on the fin¥n¢ia] statements dLXS covff the other inftmAi1 exeqx io the exieni(therwise explicitly yated in our rep(rt Mt do not exprtss any form of assurancecLMclusiffi In ¢onn¢dion wth our ludit of the financi our resp51blIry 15 to read tht Informati( and in doing so. consider whether the rth¢r infwmaii(m is mawi811y inconsi&¢nt wilh ihe finanLMal 5tatemrnts or our knowied8e obtaÈned in the audit or (thmvise appeats io t¢ maierially misstated. If identify such mftterial inconsistencies cr apparent maluial missthtemw are required io ddcrniine wthahly thtye is a material misstatemtht in the financial Matemettts ( t matuiaj missiateml of the (rfher infom)aiIr. If, based ¢M the we hav¢ performe(L c(mclude ihtre is * rna14yial m&(eMl of this (her infr*matiLm, are required to reFK)rt that fact.
Benenden Almshou8¢ Charities Independent Auditoes Report to the Members of Benendtn Almshouse Charlti&% (continued) W¢ hav¢ n¢Ahing to report in this re8•r MatteT5 on which we 8re reqwired to report by exeeption In th¢ light of cwr knowledge and understanding of the charity and its environment otrtained in the r5e of the audiL we have not identified material mi5Statements in the Trustees, R4)orl. We have (hIng to r¢pM in respect of the followng matters where th¢ Charitif5 (Accounts and Report) Re8ulations2008 require5 US to report to you if, in our opinion.. adquate accountin8 records have not kepl or retums ade4uate fv our audit have not beert received frun iranthe5 not visiied by c the financial sthtements are not in agreement with the aec(xmtirt8 records pnd r¢tums or certain disclosures of trustees remuncr2ti specified by laware nrtmad¢ or we hav¢ not received all the in[rnati and explanati5 w¢ require for tyjr audit. Responslljllltles of trustees As explained more fvlly in the Statement of TruH¢es' R¢5ponsibilities (set out on page 6), the IrvCeS are responsible for the preparati of the financial sthi¢ments and for Ixing satisfied that ihey give a true and fair view, and for such intemal control the tn1C¢S deterniine is necessary to cnable Ihe preparaii¢m of finAncial statemen that arefrce from materiaj misstatema)¢ due to fraud or errw. In prepartng ihe financial 5tatement& ihe trustees are responsible for as5es5in8 the Charitys ability to continue as a goin8 concern. di5¢10sin& as applicllble, matters relatoj to Boing c¢ttrn and using the going Concern basis of accounting unless the trustees either intend ¢0 liquidate the ¢harity or to c¢as¢ operations. or have no reali5ti¢ aliernative but to do so. Auditor Responsibiliti for the audit of the fiTranciRI statsm¢nts Our obittiive5 are to oErtain reasonable as5uran¢¢ abou¢ whethu the financial statements as a thole are free fr ma¢uial misstatemertL whethff dut ro fraud or error, and io issue an audit(f'5 report that includes our opinion. Reasonable assurance is a high level of assuranc< but is not a guarantee that an audit conducted in accordan¢¢ with ISAS {UK) will always delect a material mi&8taternent when it exists. MissiatemEnts can arise from fraud or err and are considered maierial if. individuilly lx in the aggre8at< ihey could re&%onably be expected to influence the economie dccÉsLons of users raken on the basis of these financial 5tatement& The extentto MILich our prcKedures are Capable of detecting irregularities, including fraud is detsiled below: The legal and regulatory framework applicable ro the eniity was considered as part of theaudit planrtin& a risk assessment was ¢cPIC[Ed and no arths of eoncern were hi8hlithttsJ. The audit team rcrnained VÈgLlant for polenEial fraud and non-complianL%with laws and regUlatiS thrLMLBhollt thewhole audit pNKess. The 5Witlity of Iheentitys financial stat¢rn¢ts to Materi misstaiemenL including how fraud might ¢ur was Lilt in to the audi¢ planna apprth using a range of technique A rther descriptrth of our responsibilities is available the Financial Reporting Council's wdx8ite aL ww.frc.or&uklaudi¢orsre5ponsibilities. This descriptt(xJ forms bNqrt of our auditor's rcporL Pag¢ 8
Benenden AlD0se Charities Independent Auditovs Report to the MembeT5 of Benenden AlkO5e Charities (conlinued) Use ofour report This rtprrt is made 501ely to ihc charirytruMtt8 as a Pty, in a(LiJrdancewtth section 144 of thechartiies Ao 2011 and regUlatic made under sttiion 154 of that kn Our a11 has been undertakn so mi8ht statc to the trusttts thc6e matt¢ts are requird io stale to In&ees in an auditThs rewrt and for no (her purpjse. To the Iles¢ emenr perniÈttoJ by law. do accqrt (r assume rwsibility to any(me ther the chariry and its trU¢¢S os a tdy, for cw audiirt fcf this rqm theinIt$ have ftymed. MannIngtlS( lor &atutory AuditLY) Fry and on behalf of Mannin8tw Ststut(xy Audit 39 High Street Battle East Sussex TN33 OEE Manning is eligrible ft app)intmu)t as awJitLY of the tharity iry virtue of its eli8ibility aP[ltMMt a5 audit(r of a ethnpany under Sect[¢ 1212 of the C(ThFani¢s Act 2006.
Be•enden Almshouse Charities Statement of Financial Activities for the Year Ended 31 December 2024 Unrestrieted fwwjds Tot*1 2024 Total 2023 Ineomt Ind Emdovments from: Charitsble acvviii¢s Investm¢ inwne 1055,604 714 1055.604 714 51.936 380 To¢al Incryn¢ 1056.318 1056.318 52.316 EipeDdlture oty: Charit#lAe aciivities Other expenditur¢ Governance coms {26,$60) (60.042) 1.889 {26.860) 160.042) 1.889 (16.615) 563 Total Exp¢ndi¢w¢ Gain1£& on inveArnen¢a$5dS 88.791 14.918 88.791 14.918 9.385 Net movement in funds 1.981445 1.912.445 41523 Ref0n¢lll#tl of fttm Tctsl funds iyought fWrd 411.736 411,736 378.598 T(tsl funds rrI•j fcnbvd 394.181 421 121 All of ihe charitys i¢knvities derive frLYn witiDuinB (yryati(m5 thwift8 thea( t wis)d& The fimds Imkdown ftr 2024 & 2023 is Shown in n(rte 18. Th¢ n¢5 m poge5 12 to 20 ftffm an part of these fmanciAI sratement& Page 10
Benenden Almshouse Charities (Regi51ratlon number. 232743) B8ince Sheet as at 31 December 2024 2024 2023 No¢¢ Fixed 8S5ets Tan8ible assets Inve5rments 12 13 316.726 102.937 284,609 97.404 419,663 382.013 Curret asstts DebLors Cash At bank ¥nd in hand 14 1,941,874 44.958 1,653 1.986.832 51.642 Credltors: Amounts fAlllng dut wlthln year 16 1.280 Net eurrent 1.985 552 50.142 TotAI Assets leu eurrellt Iliblll¢l¢• 2,405.215 432.155 Provlsloni 17 Net *Metg 2394.181 421 121 FundJ of ih¢ eh8rlty. Unrestrltted Income Unrestriad funds 2.394 181 421 121 Total funds 18 2 394.181 421 121 The finBn¢ial 51alements on po8es 10 10 20 approved by the trustees. and iuthtyised for issue on ...... on their behalf by.. Robin 11) Holmes chaim and tru4¢e The note5 pages 12 to 20 f¢)rm an integral part of these financial statement& P48ell
Benenden Almshouse Charlties Notes to the Financial Statements for the Year Ended 31 December 2024 l Aeeountlnl polltles Ststemtht of¢ompllance The financial statements have been prepar in accordance wilh the seeond editi¢M of the Chariiies Sthtement of Recommended Prartice issued in Odober 2019, lh¢ Financial Reportin8 StandATd applicable in the United Kingd< and R¢publi¢ Of Ir¢lwd (FRS 102) and ihe Chari(i¢s Aci 2011. B2sls of preparatlon Benenden Almshouse Chariti¢s meds (h¢ definitim of a publi¢ benefit entity under FRS 102. The actcunts (financial statements) have been Prepfjr under the historical eo5t conven¢ion with iiems rttoBnised at eC6t or ¢ranSJ¢ti value un1¢5s otherwse stated in the relevant notels) to these accounts. GolDg ¢onc¢r The trusttts consider that there are no material uncuthintses about the charitys Ibility to continue as a 80in8 1cern. ljcome and ¢ndowrn¢nts Inves1meIKCOe InVement income is reeo8nised on a r¢c¢ivable basis. Charltqbl¢ q¢flvlrfeJ Income from charithble acriviiies includes ine(Mne rt¢08nised as rTh¢d {as the relAtsJ 8ocds or 5ervice5 are provided) undtt contract Expendlture All expendiiure is ree08n1s once there 15 a legal w ¢on5tructive obll8ation ¢0 ¢hat expenditure, it is probgble 5ettlem¢nt is required and the amnI ean be measured reliably. All costs are allo1 to the applicwble expenditure h¢4din8 that 988reg4R similar costs to th81 cate80ry. Where costs ¢4nnot be direrfly attribut&4 to particulw headings they have been allocated on i bAsis con515ten¢ wth the of resourc4 wth central 51aff costs allocated ort th¢ basis of time spen( artd deprecigtirn cliarges alIcted on the por¢ion of the asset's use. Othtt supp(rt sts are alloted Sed on thespread of staff eosts. Chorfiqble tTcdvlAe5 Charitable expendiiure Comprises those costs in¢urr&J by the Charity in the d¢liv¢ry of its activities and 5ervic¢5 for its beneficiories. It in¢ludts knth costs thai can be illi)cAted dircctly to such wctiviiies &nd Ihose costs of an indi11 nanjre nece$5iry to support them. G4)vern8nte ¢ts Governance costs in¢lude ¢(ts of the preparation and examinati( of the statulory accounts. the costs of trusteo meetin&5 and th¢ ¢051 of any legal advice to trustees Iyi governance c(¥tstitu¢ional mattef& Page 12
Benenden Almshouse Chariti Notes to the Fillsncll Stst¢meknts for the Year Ended 31 December 2024 (continued) Ta10 The charity is ¢cms1der to pass the tests set out in PAragrwph I Schcdule 6 ofthe Finance Aa 2010 and therefore it meets ihe definition of a charitable company fv UK eorporaiion thx purtM)5es. Accordingly, the chariry is potcntially ex¢mpi from thxaIic in respea of income or copitsl gain5 received within CategleS ¢overed by Chapier 3 Part I I of ihe cwp0ratl( Tax 2010 or SfftioTh 256 of ¢h¢ T&x4tiffl of Chargeable Gains Aet 1992. to lh¢ extent that such income or Bains are applied exclusively charitable purposes. T**gible fixed assets Individual fixed assets costing £500 {up until 2022 £1 l or more are initially recorded at cosi. less any subsequent accumulaied depreciati(m and $ubsequen( accumulhteAI impainnertt le65es. Depreel#tI And Amortls8tio Depreciation 15 PTovidd on iangible fixed assets so as to WTiie off the cost or valuation. less any esiimgted residu•l value. ovcr their expecied useful e¢onomic lif¢ a5 follows: Asset tlg Freehold inler¢sl in land and lIding$ Improvements and equipment DepreelAtlon m¢tkod Tal¢ Y/• Reducing Balance Straighi line over 50 yeors No depreciatim will be provided until ihe project has bew compl¢¢ LAndlBuildings a¢ Walkhur# RoAd Flxed Ihveltments Fixed asset inveslmenw other than programme related investments are included a¢ markrt value at the bg14n¢¢5h¢ date. Realised gains and 1055es on investments are lCUla¢ed as the difference betwttn 5ale5 pro¢e¢ds And their markd value ai the start of the year, or ih&r subs¢4uent COSI. and are charged or credited to (he Ststement of Financial Adivities in the period of dispwl. Unre4lised gain$ and105ses represent th¢ movement in market values during Ilie year and ire credited or chsrwi to ¢h¢ Stst¢m¢ni of Finirt¢ial A¢¢ivities based ihe market vilu¢ at ¢he ye&r end. Cash and eggh equlvllents Cash and cash eqUivalts comprise cash on hand and call deposits. ynd o¢h¢r 5hort-terni highly liquid InVements that are rdIlY convertible to i knowi Amount Of Cash gnd are 5ubjecl to an insi8nificant risk of ¢hin8¢ Ln valu Fund strueture Unrestrid¢d in¢om¢ funds are general ndS that are available for us¢ at the ¢rus¢ees discra1 in fvriheranc¢ of the objectives of the charity. P88e 13
Benendem Almshouse Charities Notes to the Financial Ststements for the Year Ended 31 De¢ember 2024 (continued) 2 IncoJDe from ch8ritAble xdivitleg 21n4 UDrestricknl futyds Getheral fjnds Rent rxeivable Lartd sale 55.604 2.000.0(M) 55.604 Total for 2024 2.OS5.604 2.055.604 Totsl for 2023 51.936 51.936 3 lves¢meht iucome Umrestri¢t¢d Totsl 2023 Geitrnl 21)24 Inttresi reeeivable and simÈiar inc(rfne' Intwe5t rtteivable (m Ixnk deplts Othtt income frcKn fixed investments 597 597 117 271 109 714 714 380 4 Expendithre chrAt•lA¢ ac¢lviti¢s Unres¢Yiel¢d Tot1 2024 Totsl 2023 GeRtrl Op¢r4tion of Almshowes Emplo>Thl Other direct ¢C61s including legal and profts$i(al Establt$hma)i c$ Repairs and maintenance DeprKiati(n of tsngible fixed &%sets 3.714 1.076 4.483 15.51? 2,075 3.714 ,076 4.483 15,512 075 3.005 1.620 S,654 4.250 26,860 26.8fA) Page 14
Benenden Almshouse Charitie Notes lo the Financial Statements for the Year Ended 31 December 2024 (continued) 5 Other expenditure Unrestrleted funds Gtneral To¢•1 21124 Totsl 2023 Note Legal fee5 on tand sale 60,042 60.042 60.042 6 Analysis of gfjv¢rD•DCt support Costs Governanc¢ Costs Unrestricted fynds Tot81 2024 Totsl 2023 G¢Dernl Audit fees Audit of the finan¢tal stsiements All(tated support Casts Total 1.250 639 1,860 703 639 1.889 1.889 2.563 7 Net itttomlthglonl8oing resourfes Net inc(ming resources for th¢ yr is Statedafter charging.. 2024 2023 Depreciati( of fixed assets 2.075 2.086 8 Tttr3 r¢muD¢ration and expenses No trustees, nc¢ any p¢rsons connected Mryth them, have r¢c¢ived any remunelation frc#n ihe charityduring the year. No trustee5 have rettived any reimbursed expenses or any otherbEnefits from the tharity durin8 theyear. Pa8e 15
Benenden Almshouse ChArities Note5 to the Financial Statements for the Year Ended 31 December 2024 (continued) 9 StatTeosts The aggregate payToII costs were as follows.. 2024 2023 Staff ¢ry5ts during the yearwe. Wiges and 5alarits 3.715 3.005 No employee received emoluments of mL¥e than £60.0(Ki durin8 theyear (2022- £nil). 10 Auditors. remuneratS0 2024 21123 Audit of the financial statements 1.250 1,860 No tax was Charg in theyeir {2023- £nilk Pa8e 16
Benenden Almshous¢ Charitie Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 12 Tanglble fixed assets Land buildinv Total At l Januzry 2024 Additi(X15 331028 34.19? 332.028 34.192 At 31 De£emb¢r 2024 366,220 D¢preci8ti0 At l January 2024 Charge for ihe year 47.419 47.419 2.075 At 31 DcCernr 2024 49,494 Net book value At 31 December 2024 316.726 316,726 At 31 Dec£mber 2023 284,609 Included within the net value of land and buildings al¢ is £316,726 (2023- £284.609) in r¢5pect of freehold land and bLtildÉn85 and £Nil {2023- £Nil) in respect of leasehol(Ls. Planning perniissi was c4Jtained and additional expenditure of £34.19] has been capithlisd this year 12023.. £10,079). Page 17
Benende• Almshouse Charities Notes to the FiM2Dcial StAtemeDts for the Year Ended 31 December 2024 (¢ODtinued) 13 Fixed &et iDwestnKllts 2024 21n3 Other inVests 101937 97.404 Other investments Imve5tmeDts Totsl Cast or V4lllatio Ai l January 2024 Revaluati 97.404 5.533 97.404 At 31 Dttember 2024 101937 102,937 Ntt bth)k vsltst At 31 Dettmber 2024 101937 101937 At 31 December 2023 97,404 The histLY11 ccfjr of listed inveAmettts at 31 Decunbu 2024 £35.155 {23- £35.1551 14 Debtors 21124 2023 Trade debtws Prepa)rynents 478 1.438 1.939.958 287 1.366 1941.874 .653 15 Cash equivxl¢nts 2024 Cath at tAnk 44,958 16 Credltor&' falli due fwÈtbin one yr 21124 Ac¢ruals 1.280 Pw18
Benendell Almshouse Charities Note5 to the Fillancial Statements for the Ye4r Ended 31 December 2024 (contlnued) 17 Provisiow$ Other provlslon Total At l January 2024 11.034 11,034 Provision for fu¢ur¢ wlical rwirs and Mainterttt 1$ based ffi extemal decoration tAkin8 place every three years and internal repairs every five years tr on thev&c4tion of a property. 18 Fund• BglAnc¢ at l Jnyary 2024 Other R¢SoY¢S reeognlsed expended I41nlI055¢5) 31 Doc¢mlxr 2024 resourcei Unrutrl¢¢¢d fund8 GeneMI General Fund$ D¢sign¥11 fund 432,155 2.056,31B (88.791) 5.533 2,405.215 421 121 88.791 2394 181 BslAnc¢ at 31 Detemb¢r 2023 Ballnee at I JAnuary 2023 Olhtt Resollrctj reeognlsed expend¢d la1n(lOuQlj ltsfomlng rewureej Unrutrtcted fundj GeneMI G¢nerd Fund5 Desi8naied fvnd 389,632 52,316 (19,1781 9,385 432,155 11,034 378 598 52316 19,178 421 121 The specifE¢ purpose5 for %thid) the Iljnds are ¢¢ b¢ 4ppli¢d are 45 follows.. Designat fvnds hthve becn dc5i8niied by thr trusttts and consi5¢ of Cydical repairs fvnds £7,218 (external decoraiion iaking place every 3 years) and the Emergency repairs fiJnd £3,816 (in1&1 repairs every five years or on ihe vacation of a property). Pa8¢ 19
Benenden Almshouse Charities Note5 to the Financial Statements for the Year Ended 31 December 2024 (continued) 19 ANaly5i5 of net assets between fynds Total funds At 31 December 2014 Unrestricted furyds Gentrgl DeslgDat Tangible fixed assets Fixed et investments Currfflt assets Current liabiliti¢5 Provision5 316.726 102,937 1.986.83? {1.280) 316.726 102.937 1.986,832 {1,280) 11.034 11.034 Total nct 255et5 2,405 ?15 (11.034 2394.181 Total funds 31 Deeembtr 2023 Unrestrlcted funds Gener91 D¢slgnat¢d Tangible fixed assds Fixed asset investmcnts CUrrt 85sets Cuent liabilitie5 Provisions 284,609 97,4¢M 51.642 (1,500) 284,609 97.404 51.642 (1,5(Kl) 11,034 11.034) Total net &%sets 432.155 11,034 421.121 20 Analyas of net fvnds At31 December 2024 At l JAnry Fin8nCiDg cash 2024 C¥th ai bank ¥nd in hand 49,989 Net debt 49.989 5,031 Page 20