REGISTERED CHARITY NUMBER.. 233731 THE WILLIE ALMSHOUSE CHAAITY ANANCIAL STATEMENTS FOR THE VEAR ENDED 31 DECÉMBER 2025
THE WILLI£ ALMSHOUSE CHARITY CONTENTS OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 P28e Report of the Trustees Independent Examlner's Report Statement of Flnanclal Actlvltles Balance Sheet Note5 to the Flnanclal Statements 7 to 16 Dètalled Statement of Flnanclal Actlvities 17
THE WILLIE ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEM8ER 2025 The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2025. The trustee5 have adopted the prov151on5 of the Staternent ol Recommended Practlce150RpI Accounting and Reporting by Charities" in preparing the annual repoT¥ and financial statement5 of the charltv. The financial statements have been piepared in accordance with the accounting pollcles set out In notes to the accounts on pages 8, 9 and 10 and comply with the ch3rity's governiag document, the Charltles Act 2011 and Accounting and Reporting by Charities,. Staternent of Recommended Practlce appllcable to charltles preparlng thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlt of Ireland publlshed In October 2019. OBJECTIVES AND ACTIVITIES Oblectlves and abms The main ot)ject of the Charity is the PTOV15ion of hou51n8 for poor persons who, except In 5peclal cases to be approved by the Cha¥ity Commission. are resident I the parish of Gat Totharn and are member5 of the Church of Engla*kd. Application of Income The net income shall be applied first to repair, insure and meet all other outgoings In respect of the Charlvs properlles and all proper costs of the Charity's administration and management. Thereafter net income shall be applied for the benefit of the alm5people of the Charity, Actbvlt5es The Charity aims to provide almshov5es to a Decent Horne5 Standard for its beneficlal class. The Charity currently provldes seven almshouses and it5 aim is to utilise these as far as Possible to meet the oblectlve5 of the Charity. Public benefit These actwities are considered to be lor the public benefit and In runnlns thE Charlty the T¥ustees have regard for the Charity Commission guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE Charitable activltles The Trustees held four meeting5 In the year. They were pleased to welcome four new residents to the almshouses, ane being the partner ol an existing resident and the other three, otcupyln8 vacant propertles. These were all redecorated before occupation. The Trustees were sorry to see the resi8natSon of Nlr Gerrard O'Driscoll as chair and Trustee, Mr O'Driscoll had been a Trustee for about twenty years and hsd been a valuable member ol the Trustee body both with maintenance of the propeytles and concern for the welfare OF residents. FINANCIAL REVIEW Flnanclal position The Ch3flty's financial p051tion Is a5 Set out In the Balance Sheet on page 6 and Is consldered satisfactorv. Re5erve5 policy The Charlty's pollcy on reserves is to maintain sufficient reserves to enable the Charlty to continue to achieve Its prlnclpal objectSves.
THE WILLIE ALMSHOUSE CHARITY REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 FUTURE PLANS Trustees were Still keen tD prtsvlde more almshouses lor the people ol Great Totham. They were dlsappolnted that their appeal against the planning decision had failed but would re-submit plans in due course hoplnÈ *or 8 relaxation of current planning rul25. They were keen ta build funds to enable a development In due course. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng documÈnt This registered Ch8Ylty, Registered Ch3rity number 233731 is governed In accordance with a Scheme sealed by the Chartrty Cornrni55ioner5 on 11 March 1993 and var¢3tion5 dated 26 July 2007, 10 September 2014, 27 May 2015 and 21 November 2018. Reuultment and appolntment of new trustees As vacancles for Trustee5 arlse applltatlons are sought from potential candidates known to the Tru5t&s and other suitzble local people. Applicants are then considered by the Trustees and appointments made by resolutltsn of the Trustee5. OrganlsatSonal Structure Day to day administration of the Charlty Is ¢arrled out by the Clerk who reports to the frustees. Inductlon and tralnln8 of new trustees New Trustees are briefed by the Clerk and the existing Trustees on the history and actlvities of the Charity. They are provided wlth a copy nf thÉ Charlty Commission publication 'The Essontial Trustee" detailing thelr re5ponslbillties and providin8 8uidance on hpin8 a Trustee. New Truste ale provided with a copy of the Charity Scheme and the latest accounts. Related partles There are na other charltles related to the Willie Almshouse Charity. The Clerk to the Charlty Is also Clerk to other 81mshouse charitie5. Rlsk management The trustee5 have a duty to Identlly and revtew the risks to whlch the ch3rlty is exposed and to ensure appropriate controls are In place to provlde reasonable assurance zgainst fraud and error. Through the ernployment ol professlonal advisors the Trustees seek to ensure that all of the Charlty's management and decision rnaking processes take lull account of, and c(>mply with, rdev3nt legislation and regulatory controls, Insurance including property ownership and public liablllty is feassessed annually. REFERENCE AND ADMINISTRATIVE DEfAILS Registered Charlty number 233731 Prlnclpal address clo Clare Heye5 & Co Llmlted 18 Newbrldge Hlll West Bergholt Colche5ter Essex C06 3ER
THE WILLIE ALMSHOUSE CHARITY REPORT OFTHE TRU5TEE5 FOR THE YEAA ENDED 31 DECEMBER 2L125 Trustee5 Mrs L Bett1Éy R McPherso Mrs V Ellams Mrs K Tarpey M5 K Beer Mrs G Holmes Mrs A Heavlslde Ireslgned 12181251 G O'Driscoll Ireslgned 11/111251 H Bass Independent Examlner Slmon WellSng TC Group Accountsnts rowA Wall House Colchester Essex C03 3A0 Solititors John Fowlers LLP Town Hall Chamber5 St Runw31ds Street Colchester E55ex COI IDS BkerS 83rclays Bank PLC I Churchlll Place London E14 5HP Clerk tothe Chlrltv Mrs C Heyes 18 Newbridge Hill West Ber8holt Colchester Essex C06 3ER ApprDved by order of the tr¥)ard of trustees o K Tarpey- TrustEe
INDE PENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIE ALMSHOVSE CHARITY Independent examlner's report to the trustees of The Wlllle Almshouse charlty I report to the charlly trustee5 on my examlnation al the accounts of The Willie Almshouse Charlty Ithe Trust) for the year ended 31 December 2025. Responsibllities and basls of veport As the charity trustees ol the Trust you are responsible lor the preparatlon of the accounts In accordance with the requirements af the Charltles Act 20111'the Act'l. I report in respect of my examination of the Trust's accounts c8rried out under Sectlon 145 of the Act and in carrylne out my examinatlon I have follawed all applicable Directions given by rhe Charity Cornmission under Section 14515llbl of the Act. Independent examlner's statement I have completed my examination. I conllrm that no mater4al tratters have come to my attention In connectioth wlth the examination giving me Cause to believe that in any material respect.. accounting records were not kept in respect ol the Trust as requlred by Section 130 of the Act., or the accounts do not accord with those records., or the accounts do not comply with the appllcable requirement5 concerning the foim Ind content of accounts set out in the Chèritles (Accounts and Reports) Regulations 2008 other than any require.ment that the accounts give a true and falr vlew which 15 not a matter considered a5 part of an independent examSnation. I have no concerns and have come a£ro55 no uther m8tters in ConfitIOn with the examinatlon to which attention should be drawn ia thls ieport in order to enable a proper under5tandlng of the 8ccounts to bp rp8ched. Simon Welling Certified Accotsntant TC Group Accwntants Town Wall House Balkeme Flill Colchester Essex C03 3AD Date..
THE WILLIE ALMSHOUSE CHARITY STATEMENT OF FINANCIAL ACTIVITIE5 FOR THE YEAR ENDED 31 DECEMBER 20Z5 2025 Total fund5 2024 Total funds UnstrICted funds Restricted fund Notes INCOME AND ENDOWMENTS FROM Charltable actlviilp5 Almshouse5 activlty 37,217 17,217 41,733 Investment income 9,622 9,622 8,252 Total 46,839 46,839 49,985 EXPENDITUR£ ON Charltsble activlties Alrrshouse5 activity 24,055 24,055 11,424 Exceptlonal Items 18,602 Total 24.055 24,05S 30,026 2Z.784 22,784 19,959 Net gains on InvtMentS 22.806 22,806 6,816 NEfiNCOME 45.590 45,590 26,775 Other recogrtised galnslllfjssesl Gains on revaluatSon of fixed assets 61,101 61,101 Net movement In funds 106,691 106,691 26,775 RECONCILIATION OF FUNDS Tot81 funds brought forward 1,278,208 107,988 1,386,196 1,359,421 TOTAL FUNDS CARRIED FORWARD I,38499 107,988 IA92A87 1,386,196 CONTINUING OPERATIONS I Income and expendlture has arisen from continuing activities. The notes form part of these flnancial staternents
THE WILLIE ALMSHOUSE CHARITY BALANCE SHEET 31 DECÉMBER 2025 2025 Total fvnd$ 2024 Total funds Unrestrlcted funds Restrlcted fund Notes FIXED ASSETS Tanglble assets Investments io li 1,053,170 219,038 107,988 1.191,158 219,038 1,130,057 188,175 1,302.208 107,988 IAIO,196 1,318,232 CURRENT ASSETS Debtors Cash at bank 12 1,426 8SN53 1,426 85.453 1,879 86,879 86,879 71,328 CREDITORS Amounts falllng due vrtthin one year 13 14,1881 14.188 13,3641 NET CURRENT ASSETS 81,651 8191 67,964 TOTAL ASSETS LESS CURRENT LIABIIITIES 1,384,899 107,988 1,492,887 1,386,196 NET ASSETS 1,384,899 107,988 1492087 1,38G,196 FUNDS Unrestrlcted frJnds Restricted funds 14 1,384,899 107,988 1,278,2Q8 107.988 TOTAL FUNDS 1492 887 1,386,196 The flnanclal statement5 were approved by the Board of Trustees and authorlsed lo¥ Issue orl .1.4.Th4 3ad were slgned on It5 behalf by.. KTarpey-Trustee R McPherson-Trustee The notes form part of these linanclal stztements
THE WILLIE ALMSHOVSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES Basls of preparing the flnanclal statements The flnanclal statement5 Of the charity* which is a public beneflt entity under FRS 102, have been prepaTed in accordance with the Charltles SORP IFRS 1021 'AccouTrtlng and Reporting by Charitles,, Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applic8ble in the UK and Republlc of Ireland IFRS 1021 (effective l January 20191,, Flnanci31 Reportln8 Standard 102'The Flnanclal Reporting Standard appllcable In the UK 2nd Republlc of Ireland, and the Charitles Acr 2011. The financial statements have been prepared under the historical cost convention, with the exception th3t housin8 properties are included 3t valuatlon and investments which are included at market value. For the purposes of prespntatlDn the financlal statement5 Bre rounded to the nearest pound sterling 1£) and are inclu51ve of Value Added Tax. Fund accountlng Unrestrlcted funds can be used in 8ccordance with the charltable objectlves ai the discretion of thetrustee5. Designated funds are unrestrlcted funds ol the char&ty which the trustees have declded at thelr discretion to set aslde to usefor a sp[fiC purpose. Restricted funds can only be used for partlcular restricted purposes within the objects of the charity. Restrictions arise when speclfied by the donor or when fLind$ are raised for partlcular restrlcted purposes, Further explanation of the nature and pUrSe of each fund is included in the note5 to the financial statements. Going con¢ern The accounts are prepared on a going concem b8sis as there are no material uncertaintles about the Charity's abilroy to continue, Income All income is recognised in the Statement of Financial Actlvltles once the charity has entitlement to the funds, it15 probable that the inctsme will be recelved and the amount can be measured reliably. Income from governrnenl and other grants, whether 'capit81' grant5 or 'revenue' grants, is recognised when the Charlty ha5 entitlement to the funds, any perloimance conditlon5 attaihed to the granis have been met, it Is probatsle that the income will be received and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken a5 the earller of the date on uthich either: the Charity Is aware that prabate ha5 been granted, the estate has been Ilnalised and ntstllication has been made tiy the executorls) to the Chaiity that a distributlon will be made, or when a distributi¢Jn is received frtsm the estate. Donatlons and other voluntary income are reflected In the accounts for the period in whlch they are recelved. t)onations in kind are recognised by the Charity when received eKcÈpt in the case of serwces prcvlded free or undervalue by voluntary staff or others which are not reflected in the accouthts. Interest recelvable l#terest on funds held on deposlt is included when receivable ?nd the amount can be Measured relSably by the Charityj thi5 15 normally upon not41ic2tlon of the interest pald or payable by the Bank.
THE WILLIE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENf5. contlnuEd FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES- contlnued Expendlture liabilities are recogn15ed as expenditure a5 soon a5 there is a legal or con5tructlve obligatlon committing the charity to th8t expendSture, it 15 probable that a transfer of econorni£ benefit5 wlll be requlred in settlement and the amount ol the oblig3tion can be measured reliably. Expenditure is accounted lor on an accruals basis and ha5 been classif¥ed under headlngs that aggregate all cost related fo the category. Where costs cannot be directly atrrlbuted to particular hÉadings they have been glloc3ted ro act1wit1 on a basi5 conslstent vAth the use of resources. Repalrs and malntenance of propertle5 The charges in the Statement of Flnancial Artlvities in respect of Cyclical Malntenance and Extraordinary Repairs reflect the Trustees, constant concern to keep the properties In Eood conditlon, and are in ac£oYdance wlth the Almshouse Associatltsns. recommendation thel Almshouse Charities should set oslde each year specific sums In this respect. Transfer5 are made frorn the Accumulated Income fund each ye3T to the Exiraordinary Repair Reserve to cover extraordinary repairs es they arlse and to the Cyclscal Maintenance Reserve to cover repairs which arise on a cycllcal basi5, Support costs The charlty's governance cost5 are allocated entirely to the Almshouse Costs since support costs relatlng to other activities are consldered immaterial. Tanglble Ilxed assets Hov5inE Properties The housing properties are included In the accounts 3t thelr Insurance relnstatement value. Additions after each revaluation are included at cost until a further rev31uatlon, The houslnE propertles are not depreciated as revaluat5ons are perforrned with sufficient regularity to ensure that the carrylng amounts are not materially misstated. The c05t of refurbishment 3nd improvemenis to the ex15tlng property are wrltten off to the Extraordlnary Repair Reseyve or the Accumulated Income fund as incurred. Investments Investments are shown ott the Balance Sheet at thei¥ rnld-market value. Changes in market value5 durlng an accountlnE period are reflected in the 3ccounrs as unrealised gains or losses. Upon disposal of an investment the dlfference between origiN41 cost and dlsposal proceeds is reflected in the accounts as a realised galn or loss and aft adjustment Is made to unrealised gains or losses to reverse unrealised movements in value in earlier years. Debto¥s Contributlofi and other debtor5 are recognlsed at the settlement amount due, Prep3yments are valued at the amount prepaid net ol anytrade dlscounts due. ash at bank Cash at bank and cash In hènd Includes cash and short term hIgh liquld lnvestrnetS wlth a 5horr maturity of thre2 months or less from the date trf acqui51tioa or openinÈ ol the deposlt or 51rnilar account. Credltors and provb55ons Creditors and provislon5 are recognlsed where the Ch8r*ty has a present obligation regulting from a past event that will probably resuli in the transfer ol lund5 to a third party and the 8rn0Unt due to settle the obligation can be measured or estirnated reliably. Creditofs and provislons are normally recognlsed at their settlement arnount after allowing for any trade dlscounts due.
THE WILLIE ALMSHOUSE CHARITY NOTESTO THE FINANCIAL 5TATEMENTS- tontlnued FOR THE YEAR ENDEO 31 DECEMBER 2025 ACCOUNTING POLICIES- contlnued Taxatlon The charity is exempt from tax on its chsrltable attlvitles. INVESTMENT INCOME 2025 2024 Dividend Inwme COIF deposlt account Interest 8,058 1,564 7,154 1,098 9,622 8,252 INCOME FROM CHARITABLE AcrivinES 2025 2024 Almshouses activitv Contributlons receivable Losses from vacancles 45,400 18,1831 43,463 11,7301 37,217 41,733 CHARITABLE ACTIVITIÉS COSTS Dlrect Costs (see note 51 Support Costs ls&e note 61 Totals Almshouse5 activity 17,996 6,059 24,055
THE WILLIE ALMSHOUS£ CHARITY NOTE5 TO THE FINANCIALSTATEMENTS_ contlnued FOR THE YEAR ENDED 310ECEMBER 2025 DIREcf COSTS OF CFIARITA8LE ACTIVITIES 2025 2024 Vacant property £osts Water charge5 Insurance Repalrs and Maintenance Cyclic31 repBlrs Extraordinary repa1rs Gardening Sundry expenses Bad debt5 662 901 100 1,007 419 914 1,069 9,840 5,664 1,155 63 11,a?ii 1.595 33 1,503 17,996 S,558 SUPPORT COSTS Governance costs Management Totals Almshouses actlvlty 4,133 1,926 6.059 Support costs, Included In the above, are as follows.. 2025 Almshouses 2024 Alrnshou5es Adm1nistratlon fees Sub5criptiuns Legal and professional fees Independent examinatlon lees Accountancy fees 3,780 353 90 189 1.647 3.780 343 180 1,563 6.059 5,866 TRUSTEES, REMUNERATION AND BENEFITS There w2re no trustees, remuneration or other beneflts for the year ended 31 December 2025 nor lorthe year ended 31 December 2024. Tru5tÈes expenses There were no trusrees, expenses p8id for the year ended 31 December 2025 nor for the year ended 31 Decernber 2024. -io-
THE WILLIE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATENENTS- conilnued FOR THE YEAR ENDED 31 DECEMBER 2025 EXCEPTIONAI ITEMS Ouring rhe year ended 31 Oe¢2mber 2024, the charity incurred exceptlonal expendlture of £18,602 re13ting to the write-off of development costs for two PToposed almshouses. Plannlng permission lor the development was refused by the local authority and as a resu5t, the trustee5 determlnÈd that the costs no longer had recoverable value. No further costs are expected io be incurred ¥n relation to this project, Hnd the charity Is reviewing alternative options to fulfil its hou51ng obje¢tlves. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcllviTIES Unre5trlcted funds Restrlcted fund Total funds INCOME AND ENDOWMENTS FROM Charltable actlvltle5 ASm5houses activitv 41,733 41,733 Investment Income 8,252 8,252 Yotal 49,985 49,985 EXPENDITURE ON Charltable actlvities Almshous&4 ar.tlvltv 11,424 11,424 other 18,602 18,602 Total 30,026 30,026 19,959 19,959 Net galns on investrnents 6,816 6,816 NET INCONE 26,775 26,775 RECONCILIATION OF FUNDS Total funds brought forward 1,251,433 107,988 1.359,421 TOTAL FUND5 CARHIED FORWARD 1,278,208 107,988 1,386,196 -li-
THE WIILIE ALMSHOUSE CNARITY NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 io. TANGIBLE FIXED ASSETS Freehold property COST OR VAIUATION At l Janu3ry 2025 RevaluatlOnS 1.130,057 61,101 At 31 December 2025 1,191,158 NET BOOK VALUE At 31 December 2025 1,191,158 At 31 December 2024 1,130,057 Cost or valuation at 31 Decernber 2025 is represented by.. Freehold property Accumulated revaluation gain5 Cost 881,296 309,862 1.191.158 Hou51ng properties repre5ent5 seven almshouses being numbers 2 to 12 leven numbers onlyl School Road. GreatTotham, M8ldon, Essex and the school Room attached. The Land and Buildings were last revalued at thelr Insurance reinstatement value as at 31 Det2mber 2025. amounting to £1,191,158. ii. FIXED ASSET INVESTMENTS Llsted investment5 MARKET VALUE At l January 2025 Additions Revaluations 188,175 8,057 22,806 At 31 December 2025 219,038 NET BOOK VALUE At 31 December 2025 219,038 At 31 DÈ(ember 2024 188,175 There were no Investrnent assers outslde the UK. -12-
THE WILLIE ALMSHOUSE CHARITY NOTESTO THE FINANCIAI STATEMENTS. contlnued FOR THE YEAR ENDED 31 DECEMBER 2025 ii. FIXED ASSET INVESTMENTS- contlnued Cogt or valuation at 31 December 20251s represented bv: Llsted Investments Accurnulated revaluation galns Cost 109,735 109,303 219,038 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Contributions in arrear5 P¥epayments amd acc¥ued Income 515 911 994 885 1,426 1,879 13. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Contrlbutions received In ath8nce Trade credltors Accruals and deferred Incorne 1,513 665 2,010 200 945 2,219 4.188 3,364 -13-
THE WILLIE ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATENENTS- cuntlnued FOR THE YEAR ENDEO 31 DECEMBER 2025 14. MOVEMENTIN FUNDS Net movement In funds Transfers between funds At 31,12,25 At 1.1.25 Unrestricted funds Accumulated Income Property Reserve Property Revaluation Reserve Allred Ward Trust Cyclical Maintenance Rese¥ve Extraordinzry Repair Reserve Long Term Development Reserve 34,919 201,874 820,195 361 56.300 65.630 98,929 19.678 118,3901 36,207 201,87A 881,296 361 69,409 78.534 117,218 61,101 7,700 4,690 6,000 8,214 12,289 1,278,208 106.691 1,384,899 Restricted funds Maldon District Council Grant Reserve 107,988 107,988 TOTAL FUNDS 1.386,196 106,691 1,492,887 Net movement in funds, Included in the zbove are as follows.. Incoming roUrceS Resources expended GainE and losses Movement in IL*nds Unrestrlcted funds Accumulated Income Propcrty Revaluation Reserve Cyclical Maintenance Reserve Extraordinary Repair Reserve Long Term Development Reserve 40.075 124,0551 3.658 61,101 3,997 6,070 9,081 19,678 61,101 5,409 8,214 12,289 1,412 2,144 3,208 46,839 124,05SI 83.907 106,691 TOTAL FUNDS 46,839 124,0551 83,907 106,691 -14-
THE WILLIE ALMSHOUSE CHARITY NOTES TO THE FINANCIALSTATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2025 14, MOVEMENT IN FUNDS. ¢ontlnued Comparallvesfor movement In funds Net movement in fund5 Transfers berween funds At 31.12.24 Atl,1.24 Unrestrl£ted funds Accumulated Income Property Reserve Property Revalu3tion Reserve Alfred Ward Trust Cyclical Maintenance fterve Extraordinary fteir Reserve Long Term Development Reserve 38,265 201,874 820,L95 361 46,151 57,221 87,366 15,044 118,3901 34,919 201,874 820,195 361 56,300 65,630 98,929 2.449 3.719 5,563 7,700 4,690 6,OIK) 1,251,433 26,775 1,278.208 Restricted fvnd$ Maldon Di5trlct Council Grant Reserve 107.988 107.988 TOTALFUNDS 1,359,421 26,775 1,386,196 Comparatlve net movement ir¥ funds, included in the above are as follows.. Incoming resources Resource5 expended Galns and losses Movement in funds Unrestrlcted funds Accumulated Income Cycllcal Maintenance Reserve Extraordlnary Rep3ir Reserve Long Term Dewetopment Reserve 43,977 1,254 1,905 2,849 130,0261 1,093 1,195 1,814 2,714 15,044 2,449 3,719 5,563 49,985 120,0261 6,816 26,775 TOTAL FUNDS 49,985 30,02é1 6,816 26,775 -15-
THE WILUE ALMSHOUSE C+IARIYV NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR TME YEAR ENDED 31 DECEMBER 2025 14. MOVEMENT IN FUNDS. contlnued Fund and Reserve$ Maldon OC Grant Reserve The Maldon DC Grant Reserve is a restrlcted fund 3nd represents grants received From Maldon Dlstrlct Council to fund the c3Plt31 improvements at the housing properties. Property Reserve and Property Revaluatlon Reserve The Property Reserve was created at l January 2008 by transfer from Accumylated Income to represent the equity h&ld by the Charlty in the Freehold Property. Transfers are then made annually Irom or to Accumulated Income in respect of capit31 expendlture funded from own resources, depreclatlon or other facttjrs to ensure the reserve equates to the equity in the Freehold property. In accord8nce with the requirements of the Charity SORP, the surpluse5 on property rewaluations are shown in separate Property Revalu8tlon Reserve. The Property Reserve together wth the Property Revaluation Reserve now represent the equlty held in the freehold property funded from own resource5. Cycllcal MalntertaThce ReseNe A transfer is made each year from Accumulated Income to the Cyclical Malntenance Reserve to cover repairs whlch arlse on a cyclical basls. Extraordlnary Repalr Resewe A trdn51er is made each year from Accumulated Income to the Extraordlnary Repair Reserve to cover ext*aurdln8ry repairs a5 they arise. Alfred Ward Trust Reserve This reserve represents funds received from the Alfred Ward Trust and Is deslgnated to be used for the beneflt of the dlmshou5e residents. LongTerm Dèvelopment Reserve Thls is 8 designated reserve to which transfers wlll be made as funds permit to pravsde for future developrnent. Accumulated Income The Accumulated Income is unrestricted and avallable lor the general purposes of the Charit¥. The Fund rÈpresenls accumulated surpluses ol the Charity. 15, RELATED PARTY 015CLOSURES ThorE were no related party transactlons for the year ended 31 December 2025. -16-
THE WILLIE ALMSHOUSE CHARITY DETAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED YI DECEMBER 2025 2025 2024 INCOMEAND ENDOWMÉNTS Investment Income Oivldend income COIF deposit account interest 8,OS8 I,S64 7,154 1,098 9,622 8,252 Charltahle actlvllie5 Contributiuns r2ceiv8ble LOSS from vacant propertles 45,400 18,1831 43,463 11,7301 37,217 41,733 Total Incoming resources 46,839 49,985 EXPENDITURE Charltsble actlvltles Vac8nt property £osts Water charge5 Insurance Rf.palrs and Maintenance Cyr.IIc81 rep3irs Extraordinary repairg Gardening Sundry empenses Bad debts 662 901 loo I,(K>7 419 914 1,069 9,840 5,664 1.155 63 11,3711 1,595 33 1,503 17,996 5,558 other Exceptiona1 itern5 18,602 Support cost5 Management Administration fees Subscriptio5 3,780 353 3,780 343 4,133 4,123 Governance costs Leg413nd prole551onal fees Independent exarninatlon fees Accountancy fees 90 189 1,647 180 1,563 1,926 1,743 Total resources expended 14,055 30.026 Net Income 22.784 19,959 This page does not form part ol the statutoryfin8nclal statements -17-