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2025-12-31-accounts

Charity number: 234234

THE SYBIL CARTHEW TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

THE SYBIL CARTHEW TRUST

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 4
Accountants' report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

THE SYBIL CARTHEW TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees Mrs J Gowen, Chair (resigned 31 December 2025)
Mrs P Fenn (resigned 31 December 2025)
Mr M Simpson (appointed 9 December 2025)
Mr A Ditton (appointed 9 December 2025)
Mr G Dyball (appointed 9 December 2025)
Ms S Miller (appointed 12 February 2026)
Mr R Sanders, Chair
Mrs R Seagers
Rev P B Wintgens
Charity number
Regulator of social
housing number
234234
A2704 (until deregistration 14 April 2026)
Principal office
c/o Millard Consultants
The Beeches
79 Ely Road
Little Downham
Ely
Cambridgeshire
CB6 2SN
Accountants
Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL
Bankers
Barclays Bank Plc
1 Princes Street
Ipswich
Suffolk
IP1 1PN

Page 1

THE SYBIL CARTHEW TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Sybil Carthew trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 December 2025. The information on page 3 forms part of this report.

CONSTITUTION AND OBJECTIVES

The Sybil Carthew Trust was set up under the Charity Commission Scheme on 1 April 1969, revised on 9 February 1984.

Mrs Sybil Carthew bequeathed land at Station Road, Woodbridge and money with which to build homes for the elderly. An additional small grant from the Housing Corporation enabled the buildings to be completed for occupancy in 1971. They were designed with the object of combining individual privacy with the advantages of a congenial community atmosphere and special amenities that such a community can offer.

The aim of the charity is to establish homes for ill and aged people.

The trustees who served the charity during the year are shown on page 1.

All administrative decisions have to be agreed by the Trustees at their regular meetings.

TRUSTEES RESPONSIBILITIES

The Charities Act requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended.

In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on page 9 and then apply them on a consistent basis, making judgements and estimates that are prudent and reasonable. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate.

The trustees are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPOINTMENT OF AND TRAINING OF TRUSTEES

When a vacancy for a trustee occurs, a search is made for candidates from in, or around, the town of Woodbridge. The Charity has recently undertaken a recruitment campaign resulting in three new Trustees for 2026. During the appointment process, consideration of skills, expertise and suitability are considered. Each new Trustee is offered an induction together with appropriate Almshouse Association training. On appointment, new trustees are given copies of the constitution, the accounts for the previous year and copies of the Letters of Appointment issued to Residents, together with the Residents Handbook. All trustees are encouraged to attend courses on the roles and responsibilities of trustees; and on almshouse management during the term of their trusteeship.

RISK

The charity has conducted its own review of the major risks to which it is exposed, and systems have been established to mitigate those risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity, and take account of the latest legislation and regulations.

Page 2

THE SYBIL CARTHEW TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

INVESTMENTS

The trustees have chosen to invest in Common Investments Funds established under section 24 of the Charities Act 1993. The investments are listed in Note 6 to the accounts and are subject to regular review. The investments yielded a gross return of 3.79% on the Market Value. The capital value increased by 15.4%

RESERVES

At the end of the year total funds were £705,837 (2024: £649,859) , of which £240,408 (2024: £243,409) was represented by depreciating assets and a further £70,511 was represented by freehold property held in endowment. Total unrestricted funds were £258,341 ( 2024: £2 34,604), including a designated fund for cyclical maintenance of £98,739 (2024: £111,180) and unrestricted fixed asset funds of £1,190 (2024: £Nil). Free reserves at the year end therefore were £158,412 (2024: £123,424) .

There is an overall increase in total funds at the year end due to the gain on investments of £57,103 (2024: £16,243) and despite the deficit incurred in the year of £1,125 (2024: £8,223). There was a decrease in reserves was due to spending on Building Projects, though this was partially offset by and increase in the value of investments held by the Trust. There was also capital expenditure of £2,138 (2024: £48,984) on Building Projects in the year.

FUTURE DEVELOPMENTS

As described in the Going Concern accounting policy, the Trustees intend to transfer the operations, assets, and liabilities of the charity to a newly established charitable incorporated organisation, The Sybil Carthew Trust (registration number 1215674). In preparation for this, the charity has deregistered from the social housing regulator on 14 April 2026. Pending the transfer, the charity continues to operate as normal.

ACTIVITIES AND ACHIEVEMENTS

In line with the objectives of the Trust accommodation was provided for men and women from the local area, where vacancies arose, these were either filled or have been kept vacant for refurbishment.

During the year the Charity appointed a Project Manager to undertake a Stock Condition Report and thereafter to compile a Planned Maintenance Programme. The Trustees note with thanks to Hollins for their support in this regard.

Remedial works were undertaken to resurface the walkways on the first floor, thanks to the ongoing cooperation and assistance from residents who were inconvenienced during these works. The Charity also engaged the services of Millard Consultants to assist with Clerkship and Estate Management to help relieve the burden on the Trustee board. Following a Governance review Trustees appointed Birketts to assist with a Governance Review and Incorporation.

The Board welcomed new Trustees and saw the retirement of three longstanding Trustees. The Charity also hosted a residents Christmas Gathering to celebrate the Festive Period. In accordance with guidelines from the Almshouse Association, amounts continue to be allocated to a designated fund for Cyclical Maintenance and to a restricted fund for Extraordinary Repairs. The aggregate funds are intended to enable sufficient reserves to be available to cover a cyclical maintenance programme and the cost of any extraordinary repairs that may arise and to help with the capital cost of rebuilding or adapting the Trust’s buildings as may be required in the foreseeable future.

Page 3

THE SYBIL CARTHEW TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Taking into account contributions of £12,441 to the Cyclical Maintenance Fund and £nil to the Extraordinary Repair Fund, there was an operating deficit of £1,125 for the year. This compares with a surplus of £8,223 in the previous year. Most of the decrease in the operating surplus is due to higher spend on General maintenance There was £12,441 expenditure from the Cyclical Maintenance Fund during the year, with no expenditure from the Extraordinary Repair Fund, due to with extensive works being carried out to cantilever balconies.

1
2a
2b
3
4
5
6A
6B
7		 Reinvestment %
Investment in housing properties in the year as a percentage
of the gross book value at the year end
New supply delivered (social housing units)
New supply delivered (social housing units)
Gearing %
Net debt (loans - cash) as a percentage of the gross value of
housing properties
Earnings before interest, tax, depreciation, and amortisation
(EBITDA, major repairs included) interest cover %
The level of surplus generated compared to interest payable
Headline social housing cost per unit
Operating margin (social housing lettings only) %
Operating margin (overall) %
Return on capital employed %		 2025
1%
Nil
Nil
-7%
N/A
£6,849
-16%
-1%
0%		 2024
70%
Nil
Nil
-10%
N/A
£8,441
1%
9%
1%

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr R Sanders Date: 15 Jul 2026

Page 4

THE SYBIL CARTHEW TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

Accountants' report to the Board on the unaudited accounts of The Sybil Carthew Trust

We report on the accounts for the year ended 31 December 2025 set out on pages 6 to 20.

Respective responsibilities of the board and the independent reporting accountant

The Board of the Registered Social Housing Provider is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.

Basis of opinion

Our procedures consisted of comparing the accounts with the books of account kept by the Registered Social Housing Provider and making such limited enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These procedures provide the only assurance expressed in our opinion.

Opinion

In our opinion:

Signed:

Dated: 20 July 2026

Larking Gowen LLP Ipswich

Page 5

THE SYBIL CARTHEW TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income and
endowments from:
Charitable activities
3
Investments
4
Total income and
endowments
Expenditure on:
Charitable activities
Total expenditure
Net
income/(expenditure)
before net gains on
investments
Net gains on
investments
Net income
Transfers between
funds
13
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Unrestricted
funds
2025
£
91,940
14,189
106,129
102,263
102,263
3,866
39,737
43,603
(870)
42,733
234,604
42,733
277,337		 Restricted
funds
2025
£
-
-
-
4,991
4,991
(4,991)
15,109
10,118
870
10,988
334,741
10,988
345,729		 Endowment
funds
2025
£
-
-
-
-
-
-
2,257
2,257
-
2,257
80,514
2,257
82,771		 Total
funds
2025
£
91,940
14,189
106,129
107,254
107,254
(1,125)
57,103
55,978
-
55,978
649,859
55,978
705,837		 Total
funds
2024
£
83,089
7,605
90,694
82,471
82,471
8,223
16,243
24,466
-
24,466
625,393
24,466
649,859

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 18 form part of these financial statements.

............................................ ............................................ Mr R Sanders Rev P B Wintgens

Date: 15 Jul 2026

Page 6

THE SYBIL CARTHEW TRUST

BALANCE SHEET AS AT 31 DECEMBER 2025

Note
Fixed assets
Tangible assets
9
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
12
Net current assets
Total net assets
Charity funds
Endowment funds
13
Restricted funds
13
Unrestricted funds
13
Total funds		 4,357
25,791
30,148
(4,800)		 2025
£
310,919
369,570
680,489
25,348
705,837
82,771
345,729
277,337
705,837		 2,240
37,276
39,516
(16,043)		 2024
£
313,920
312,466
626,386
23,473
649,859
80,514
334,741
234,604
649,859

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr R Sanders

Date: 15 Jul 2026

The notes on pages 8 to 18 form part of these financial statements.

Page 7

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. General information

The Sybil Carthew Trust is a registered Charity in England and Wales, Charity registration number 234234. The Sybil Carthew Trust is also a registered provider of social housing, registration number A2704. The registered office is c/o Millard Consultants, The Beeches, 79 Ely Road, Little Downham, Ely, Cambridgeshire, CB6 2SN.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the Housing and Regeneration Act 2008 and the Accounts Direction for Private Registered Providers of Social Housing 2022.

The financial statements are presented in sterling which is the functional currency of the Charity and are round to the nearest £.

The Sybil Carthew Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The Trustees assess whether the use of going concern is apprioriate i.e whether any material uncertainties exist or conditions which may cast doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authourisation for issue of the financial statements.

As disclosed in note 16, the Charity deregistered with the social housing regulator on 14 April 2026.

The Trustees intend to transfer the operations, assets, and liabilities of the charity to a newly established charitable incorporated organisation, The Sybil Carthew Trust (registration number 1215674). Pending this, the Charity continues to operate as normal. Therefore these accounts are prepared on a basis other than going concern. No adjustments have been made to the accounting policies or accounts figures as a result of the transfer.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

Page 8

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.4 Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

The estimated useful lives are as follows:

Fixtures and fittings - 25 % reducing balance basis
Property Improvements - 50 years straight line

Freehold property is maintained to such a standard that their estimated residual value is not less than cost. As a result no depreciation is charged. The Trustees perform annual impairment reviews to ensure that the recoverable amount is not less than the carrying value.

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 9

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Endowment funds represent the permanent endowment of the charity.

Page 10

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

3. Income from charitable activities

Unrestricted
funds
2025
£
Contributions from Residents - Weekly Maintenance
Contribution
73,561
Contributions from Residents - Service charge
23,580
Guest Flat Income
325
Less: Vacant Flats
(5,526)
91,940		 Total
funds
2025
£
73,561
23,580
325
(5,526)
91,940		 Total
funds
2024
£
42,725
40,984
(620)
-
83,089

4. Investment income

Shares
Interest
Analysis of expenditure by activities
Provision of almhouses
Total 2024		 Unrestricted
funds
2025
£
13,994
195
14,189
Activities
undertaken
directly
2025
Support
costs
2025
£
£
96,328
10,926
74,626
7,845		 Total
funds
2025
£
13,994
195
14,189
Total
funds
2025
£
107,254
82,471		 Total
funds
2024
£
6,910
695
7,605
Total
funds
2024
£
82,471

5. Analysis of expenditure by activities

Page 11

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

5. Analysis of expenditure by activities (continued)

Analysis of direct costs

Provision of
almhouses
2025
£
Staff costs
9,974
Heat and Light
21,657
Insurance
3,142
Maintenance - General
8,268
Maintenance - Grounds
5,241
Maintenance - Cyclical
12,441
Consulting
30,466
Depreciation
5,139
Staff training
-
96,328
Analysis of support costs
Provision of
almhouses
2025
£
Telephone
359
Sundry
1,743
Governance costs
8,824
10,926
6.
Accountant's remuneration
Fees payable to the Charity's independent accountant for the preparation of
the Charity's annual accounts		 Total
funds
2025
£
9,974
21,657
3,142
8,268
5,241
12,441
30,466
5,139
-
96,328
Total
funds
2025
£
359
1,743
8,824
10,926
2025
£
3,060		 Total
funds
2024
£
22,710
21,656
3,475
13,465
8,131
-
-
4,979
210
74,626
Total
funds
2024
£
797
217
6,831
7,845
2024
£
2,940

Page 12

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Staff costs

Wages and salaries
Social security costs		 2025
£
9,723
251
9,974		 2024
£
22,548
162
22,710

The average number of persons employed by the Charity during the year was as follows:

Average number of employees
The average headcount expressed as full-time equivalents was:
Full-time equivalent number of employees		 2025
No.
2
2025
No.
-		 2024
No.
4
2024
No.
1

No employee received remuneration amounting to more than £60,000 in either year.

There is no remuneration payable to key management personnel.

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL) .

Page 13

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

9. Tangible fixed assets

Cost or valuation
At 1 January 2025
Additions
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Freehold
property
£
70,511
-
70,511
-
-
-
70,511
70,511		 Furniture
£
7,041
-
7,041
7,041
-
7,041
-
-		 Equipment
Property
Improvements
£
£
-
297,331
1,268
870
1,268
298,201
-
53,922
148
4,991
148
58,913
1,120
239,288
-
243,409		 Total
£
374,883
2,138
377,021
60,963
5,139
66,102
310,919
313,920

10. Fixed asset investments

Cost or valuation
At 1 January 2025
Revaluations
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Listed
investments
£
312,466
57,104
369,570
369,570
312,466

Page 14

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

10. Fixed asset investments (continued)

Units Value (£)
Charinco 12,908 18,582
M & G Charifund income units 7,678 132,641
National Association of Almshouses 737 103,865
Common Investment Fund
Equities Investment Fund for 281 114,482
Charities M&G Charifund Acc units

11. Debtors

Due within one year
Weekly Maintenance Contribution arrears
Prepayments and accrued income		 2025
£
1,302
3,055
4,357		 2024
£
247
1,993
2,240

12. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Accruals and deferred income		 2025
£
1,795
-
3,005
4,800		 2024
£
13,487
482
2,074
16,043

Page 15

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

13. Statement of funds

Statement of funds - current year
Balance
at 1
January
2025
£
Income
£
Unrestricted funds
Designated funds
Cyclical Maintenance
Fund
111,180
-
General funds
General Funds
123,424
106,129
Total Unrestricted
funds
234,604
106,129
Endowment funds
Endowment Fund
80,514
-
Restricted funds
Extraordinary Repair
Fund
91,332
-
Restricted Property
Improvements
243,409
-
334,741
-
Total of funds
649,859
106,129		 Statement of funds - current year
Balance
at 1
January
2025
£
Income
£
Unrestricted funds
Designated funds
Cyclical Maintenance
Fund
111,180
-
General funds
General Funds
123,424
106,129
Total Unrestricted
funds
234,604
106,129
Endowment funds
Endowment Fund
80,514
-
Restricted funds
Extraordinary Repair
Fund
91,332
-
Restricted Property
Improvements
243,409
-
334,741
-
Total of funds
649,859
106,129		 Statement of funds - current year
Balance
at 1
January
2025
£
Income
£
Unrestricted funds
Designated funds
Cyclical Maintenance
Fund
111,180
-
General funds
General Funds
123,424
106,129
Total Unrestricted
funds
234,604
106,129
Endowment funds
Endowment Fund
80,514
-
Restricted funds
Extraordinary Repair
Fund
91,332
-
Restricted Property
Improvements
243,409
-
334,741
-
Total of funds
649,859
106,129		 Statement of funds - current year
Balance
at 1
January
2025
£
Income
£
Unrestricted funds
Designated funds
Cyclical Maintenance
Fund
111,180
-
General funds
General Funds
123,424
106,129
Total Unrestricted
funds
234,604
106,129
Endowment funds
Endowment Fund
80,514
-
Restricted funds
Extraordinary Repair
Fund
91,332
-
Restricted Property
Improvements
243,409
-
334,741
-
Total of funds
649,859
106,129		 Expenditure
£
(12,441)
(89,822)
(102,263)
-
-
(4,991)
(4,991)
(107,254)		 Transfers
in/out
£
-
(870)
(870)
-
-
870
870
-		 Gains/
(Losses)
£
-
39,737
39,737
2,257
15,109
-
15,109
57,103		 Balance at
31
December
2025
£
98,739
Unrestricted funds
Designated funds
Cyclical Maintenance
Fund
General funds
General Funds
Total Unrestricted
funds
Endowment funds
Endowment Fund
Restricted funds
Extraordinary Repair
Fund
Restricted Property
Improvements
Total of funds		 Balance
at 1
January
2025
£
111,180
123,424
234,604
80,514
91,332
243,409
334,741
649,859
178,598
277,337
82,771
106,441
239,288
345,729
705,837

Designated Funds

Cyclical maintenance fund - designated funds to cover the cost of regular maintenance expenditure.

Restricted Funds

Extraordinary repair fund - restricted funds from extraordinary investments for the purpose of providing repairs and improvements of an irregular and non-recurring nature. Restricted property improvements - restricted funds held as depreciating fixed assets.

Transfers into restricted funds - There was a transfer of £870 to the Restricted Property Improvements Fund relating to works being carried out.

Page 16

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Cyclical
Maintenance
Fund
General funds
General Funds
Total
Unrestricted
funds
Endowment
funds
Endowment
Fund
Restricted funds
Extraordinary
Repair Fund
Restricted
Property
Improvements
Total of funds		 Balance at
1 January
2024
£
111,180
150,589
261,769
79,687
84,534
199,403
283,937
625,393		 Income
£
-
90,694
90,694
-
-
-
-
90,694		 Expenditure
£
-
(77,493)
(77,493)
-
-
(4,978)
(4,978)
(82,471)		 Transfers
in/out
£
-
(48,984)
(48,984)
-
-
48,984
48,984
-		 Gains/
(Losses)
£
-
8,618
8,618
827
6,798
-
6,798
16,243		 Balance at
31
December
2024
£
111,180
123,424
234,604
80,514
91,332
243,409
334,741
649,859

Page 17

THE SYBIL CARTHEW TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

14. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
1,990
Fixed asset investments
251,871
Current assets
28,276
Creditors due within one year
(4,800)
Total
277,337		 Restricted
funds
2025
£
238,418
106,267
1,044
-
345,729		 Endowment
funds
2025
£
70,511
11,432
828
-
82,771		 Total
funds
2025
£
310,919
369,570
30,148
(4,800)
705,837

Analysis of net assets between funds - prior year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
-
211,131
39,516
(16,043)
234,604		 Restricted
funds
2024
£
243,409
91,332
-
-
334,741		 Endowment
funds
2024
£
70,511
10,003
-
-
80,514		 Total
funds
2024
£
313,920
312,466
39,516
(16,043)
649,859

15. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2025.

16. Post balance sheet events

On 14 April 2026, the Charity formally deregistered from the social housing regulator. The Charity continues to operate as normal following with deregistration.

Page 18

SIGNATURE CERTIFICATE

Document

Name Sybil Carthew final accounts.pdf Creator Josh Chapman (Josh.Chapman@larking-gowen.co.uk) Date 02 July 2026 9:56:26 UTC Identifier d1ac30f0-0e26-47a1-a17a-f38e3a9edd3b

Signers

wintgens@btinternet.com

E-mail wintgens@btinternet.com Signed 10 July 2026 10:28:12 UTC IP address 86.145.212.140

gneiss12@gmail.com

E-mail gneiss12@gmail.com Signed 15 July 2026 14:07:13 UTC IP address 2.58.73.107