REGISTERED CHARITY NUMeER'. 235011 Roport of the Tru8tee8 and Unaudlted Flnanclal Stalomonts for lh• Year Endgd 31 December 2025 for WOLLASTON AND PAUNCEFORT ALMSHOUSE HARITY KNOX CROPPER
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Conlonts of the Flnanclal Statemènts for thè Yoar Ended 31 D8mber 2026 Pagè Reference and Admlnlstratlve Dotalls Report of th? TTu8legs 2 to 5 Statsment ol TruBtses' Ro¥ponslbllle8 Independént Examlnerfs Report ststem•nt of Flnanclal Actlylti B#lan¢è She•t Not•9 to tho Flnanclal Statsrnents 10 to 20 D•tsll8d Statsment ol FInala1 A¢tlvltles 21 lo 22
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Reference and Admlnlstratlve Detalls for tho Y•ar End•d 31 December 2026 TRUSTE&8 R D Sago Chalr P A Crowther (wesignj 21.5.251 A R08e AJ Betham Mrs T Ayodèjl R Tillolt Mrs J Ri9by (appointed 20.1.26} PRINCIPAL ADDRESS 10 Highgate Avenue Lgndon N6 5RX REGISTERED CHARITY NUMBER 235011 INDEPENDENT EXAMINER Knox Cropper LLP Chartered Accountants Offico Suite 1 Haslernere House Lower Stre&t Haslemere Surrey GU27 2PE SOLICITORS PothecAry & 8arr8tt Whitehorse Court North Slioel Bishops Slortlord Herts, CM23 2LD BANKERS TSB Bank Plo Archway Branch 19 Highg8té Hill Archway London, N19 5LS Page 1
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Report of the Tru¥tse$ for the Year Ended 31 December 2025 The Iruslees present their reM wlh the financial statsments ol the thartty for the year ended 31 December 2025. The trustee8 have adopted the provisbons ol Accounting Reporting by Charitle3'. Slalemenl ol Recommended Pr? applicable lo ch?rilies pr8pariw¥J their accounts in COrdanC9 with the Finanual Reportiig Stsndard oppliGable in Ihp UK and Republic of Ireland {FRS 102118ffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Obloetlvos and alms The Wollaston arKI Pauncefort AJffl8houses were sel up lo provide UnfliShed ¥¢comm(Klalion lor people tsver the age ol 60, th Ilmttsd finaw81 resources and w8r8 living alone. Rasid8nts Brè 8XP8ctsd lo be ae to INe independenwy. The objectwe$ lor the yaar were lo mainlaln warm. dry comfortable and safe houses lor Ihe b8nefidaries and to attond to any problams raported and raview tha financial position ol the Charity. Th8 Charity's 81m is 10 8nsure all the almshous68 are in good d8coratN8 order, hav• safe, up-to4ate equipmenl and that damp and other typical building problems ar9 Persollal r¢qugsls ol ln¢fICialle¥ Igr exlia Ilws u)f fixture¥ ?nd fftting$ a¢MModated wrever Kx)s$itle. Slgnincant actlvltle9 The Charlly runs six unlumlshed one-b&roDmed cottag&s in the parlsh ol St Mi¢hag1's Highg for ¢lderly people. Roullne maintenance has been carried Ihroughoul the year. The reskjent of no.33 has been in hospital and then a nUrsg Home 8ince 1112120 lollowins a stroke, and 15 unablptg walk. Th¢ Chaiily has 1g1ic¢nsed tho wttage lo a new resident In light ol the residenfs strong wish to return horne il possible. The Chlty has regularly reviewed this p08ition in Ilghl ol thè medical advlce, and her legal Btslus with the Court of Prolecbon. Thgre havg ongoing problem5 with damp)ess In no$. 29 and 15. Further lo professional advice. aLlitional roof insulation antj kitchen ventilatM)n has been instBlled in 3 of the properties and the re8ults wil bè rnortitorèd. The income and èxpenditure ol the chartty Is k8pI uThJer rleW al rneeung. Publlc bengflt Th¢ purpDse5 ol th? Wolla$lon and PaUn¢¢f Almsh)use$ Charlty ar¢ of publ1¢ benefit in that il prowdes and mainlains awcwnmodallon lor those, th a Strong a$sc¢lallon vAlh the localty. In need by ason ot age and Inanck81 har(Jshlp. In doing so the trustees have paid du8 cegBrd to section 4 of the Charilies Act and the public b8nefit guidance published by the Charity Cornmission_ ACHIEVEMENTS AND PERFORMANCE Charltable actlvltles Tho Almshouses 0rat0 a ¢onllnuous pollcy ol repair and hbIShment as necessary lo ensu ¢ompllance wllh the DeTrnt Homes Standards. Maintenance work was carried out in 2024 folknwing Pellings, Quinquennial Report 016 January 2023. and adwce from Janu5 Conservation in 2024. R8lurbishrnenl ol no.19 SL was commenced on 6th October 2W25 following quotations received in May. The Tru51ees reviewed the financAal po51tic at eath olthelr meetings during th8 y@8r. P8ge 2
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Rèport of the Tru$tee$ for thè Yèar Endèd 31 Dttèmbèr 2025 FINANCIAL REVIEW Flnanclal p081tlon Thtr Charity ietumed a deficit for the year amtsunbng lo £9,322 cofflpared to a surplus 01 £5.479 in the pieceding year. The maln C¢1r1bUttsry factor was the on$ unctwpièd Almshouse during part of the yèar and a rent strike by another resident. Thè r•què81 for a loan of £45,orK) waÈ granied by thè Almshouse As8¢xlallon for the furbI#hMenI tsf no.19 Southwood Lane in Novgmber 2025, with rgpaymonl in 20 equa1 in¥taltnonls every 8iX rnonths 01 £2.362.50 comrn8ndng from 6 month5 after the final drawdown in June 2026.The foe for tho loan was 5%, i.e. £2,250. The deficit on operating a¢tlviUes was slightty W0ened by the loss on the market value of Inv¢sbrents wountlng lo compared lo a gan of £2.281 in the precethng year. The Balan Sheel has therefore shown a de¢rea8e In re5erve8 of £9.322, being the n81 expenditur6 for the year. This is r8presenled by a defial on unreslricled fund5 of £5,134, ar a defKil on reslricled lunds (representing the deprecAalion charg& released againsl the soclal housing grant) 01 £4.193. Inve8tment pollcy and oblectlve8 It is thè Ch8rfty'$ ptsllcy to invest any 8urplus funds in sècure Snveslmants. The investrrents are man3ged by the Trustses have opted lo Inve81 in a rnixed portfolio of Accumulatlon Income Shares wlth CCLA, M&G, and BlaroCk Chartty Funds. R•s•rv•s pollcy Wollaston and Pauncefort Almshouse Charity keeps ieserves lor the maintenance of Ihelr anclenl lIding8 whlch are used as almshous8s and u88d for th8 we118rè ol resldents. The Charlty 11 alm to maintain a rninimum balance 01 £15.0(K) in their current account foi the upkeep ol Ihe buildillgs. In addl.On. maintenance contributions receivable from reshjents wll bo revied annualty. Th8 Twstèès will also tr8nslèr ol funds for inveslments annually. Al 31 December 2025 reserves amounted to £537.546. ofwhith £340,313 re unr8lrlct&S £197.233 were restricted. Golng concorn There are no rnatters of going concern lo report. The Court of PrI)blOn soliolors lor rn,33 has refunded the ole outstanding WMCS and conllnue8 to p8y for the absent res&t in a Nrsing home. The resident of no.29 also conun5 to withhold his WMC duè to compl8int8 ab(MJt thè damPSs In hi$ property. A provision of £12,610 has been made agalnsl the £27,610 owed. Whilst the Twslees ar¢ trweful that th¢% lunds will be recovered in lull. Bignificant lime has now passed calling into quast)n t récovèrabllity ol thÈ 11 amount. No.19 has been empty slnce August 2025, )d (( Is hopgd that a new resident can lake up ocwpalim In e8rty 2028. Th? Twst¢e5 are ol the opinion that thg charity has svfficient resarves to adopt IhÈ Going Concem ba6Ls. FUTURE PLANS Tre Trustees intend lo continue with Ihelr exlsting inveslments. Th9 Truslees continue lo look for opportunities to raise any ngC&S$gry furlrj from grant8, 11 is proposed lo contlnue lo manage tho prop¢rb9s Ourse88 for a peric4J, so retainlng Ihe fiMI WMC from ro¥idBnts lor thi purpos&. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng documgnt The d)aflty is controlled by its governing document, a dggd of tru81 and 0)nstileS an unlncorporaled charity- Charfty conslltutlon The charity is govérned by the Scheme ofthe Charity Commls8lon dated 91h October 1980 as am8nd8d by 8 Scheme of 1 January 1992. The Charity's Reglslored Nutnbei 18 235011 and it is also reglsl8red wth the Regulator of SocAal Housing (Number A35271. The Charity is a wblic benefit ents"ty. Page 3
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Report of the Trusteas for thè Y8ar Ended 31 December 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organl¥ptional Structuro The Board ol Trustees m8t five tiffles during 2025. to deal with maller8 re181ing lo tho alrnsh0us and their beneficiaries. strat8gy and FX)licy and to ensure Ihal any vacancies that arose were filled. Tho CIEwk 1¢ the Gharily continues to oversee the CoMlan responsibilitie8 in consultation wlth the Trustees. The Clerk and Trustees m8y att8nd Ihg S¢mln8rs for Twstses and Clerks orgaN88a by th8 Aknshouse Associallon as approprfate. The TrLtstees also confimi that they have had gard lor the Charlty Commission guidan in respect ol public benefit wh¢n r•viÈwin9 Ihè chity's aims and objectives and planning future ath'vllies. Induetlon and tmlnlng of now trust••¥ The are rrenY five Trustees to the Charity. Mr Rlchard Saga was elected Chair. by the Trustees al their rneelir¥J in January 2025. Thè Trustees arè pèrsons 0 either currentty reside or who have forfflerly re$Kled in the locallty and recruil8d in acGoidanGg wth Ihe aim ol the Board ol Trustees to provide 8 mix ol proles8lonal skills. experien and availability to deal with day-to-day i8sue$ relating tf) the alm8hc>L)ses and their beneficiaries. New Trustees are briefed by the Board of Trustees and may attend courses wn by Ihg Alrnshous¢ AssoGiotlon and others il they choose. If av8il)le, a Trustee attends the Alm¥houso Assoclath)n Annual General Meet'ng. Key management remungratlon The Iru81ee8 re1ve no mneratIOn for their services other than the reimbursement ol oul-ol-pod(et expenses Rl$k management The Trustee5 have identified the risks lo which the Charlty might be exposed. These are reviewed on an ongtsing bas1$ ancl syslern8 ale in place to ensure controls ar8 appropriate to provide reasonable assurance agalnst fraud 8nd orrot. The Board's fc$ in the yearwas on the below princlpal risk8'. Pro ee$ lo D8cenl H Regular reports are made to Ihe Board to ensure all FoperMes and inspectl¢)ns are up lo dale. A programme of works is In place for ¢ompc4)enl placeMents. Maintainin ood service lev91¥ lo 198id¢nls Wolla510Tr and Pauncefort M$hOuse Charity adopts communication beh4fen residenls and Trustee8 and tIonS ¢oncerns rais8d as necessary. Effeclive mana ement of the Chari 's resou The Board continue to monitor the Charity's resour5 and particularfy its finances the econornK unTrrtainlles CUrnNY Impacting lh8 cost ol liviry for lh8 residents and Ihe d)aifrty Sn mtyinlalnlng the properties. Given t1 investments held by the Charity. lh• Trustees are confident that the charity Is able lo conbnue devering118 Ot4.tIVes. Codè of Gov•rnane• Tho code ol govern8nce 8dopt8d by the Tw8leés Is lh8 C178rlty vrnanc8 Cod8 for Smaller Charities. as thls best fits with the aims and objectives ol Wollaston and Pauncefort a8 an Alm8hou8e Charrty and represents a Standard of goK)d govemance pr8cllce to which all charilitss should astlre. The Boaré of Tru8tee8 ¢(x)firm3 ¢oMplIan wth lh8 Govemanee and Finanaal Vi8bllSty Sland8rd. In dng so, th8 Board confirms that it has an appropriate, robust and prudent business planning, risk and conlrd framework In place. Th• charity adh8r8s to the HousiThJ Ombudsman Complaints Code and ensJJr8s that complaints and COrrnS raised by residents are addre&sed approprialdy. Pag8 4
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Rgport ¢f tho Tru$tse8 for thè Yoar Ended 31 Dac•mbor 202S VALUE FOR MONEY IVFMI Each year the Charity uses a range of data lo measur8 VFM progrèss against Ihe Using sector. The results help influence inve81rnent dacisi& and provifle th¥ rogulalors and other stakeIderS with information on tre progrtrss of Ihe Cty, whilst also ensurlng compliance with the regulatory VFM stsndard. The melri¢s have eft compared to The Acuity Smaller Providers metrics foi industry cornparability. Motrlc 2025 2024 Aculty Scorecard Commgntary New SUpY delivered 0.0% 0.0% The Charity wns 6 unfurnishèd cottagas This r9Th8in8 85 w the previous year. wlth no new of s[al or nl-scla1 housin Gearing 18.41% 18.41% 13.8% The Charity had no borrowings until the last month ol the year and did not Incur any Interesl in the ear. E81TDA MRI NIA NIA 192,0% Th& charity in¢yed no knterest in Ihe year. 8oiyal Houslng Cost Por Unil £6,895 £2,553 £6.524 The charlty had 8ignificanl repair and rrainlen3nce costs 88 It comm&nced the r61urbishrnenl 0119 Soulhwood Lane. Operallng Margln Ov¢rall 121.331% 12,79% 15.37% As a Chwity. WlaS1on and Pale•fort rècÈlv8s Incomè trom ils Investments, thus impactlng the operating margin. Tlys ineomo also underIt&S part of the charity'8 operatsng costs. 2025.8 r8sults continua to be impacted by No.19 belng em In the ear. Social Housing Lettings only 132.251% (6.871% 17.3% ROCE 11.531% 0.58% 3.1% This is particularly low due to the mlniffl81 lialitIeS ol the charity, l098lher wlh an op9taling deficit in the yeai. The Charlty trK)Ids investments sthich additionally provided an unrealised 1055 of £906, com ared lo 8 ain of £2 281 In 2024. Rginvoslm¢nl 0.0% 0.0% 3.4% There werè no component raplae•ments in the year. Tha charity CLJmrnenced major refvrbishmenl project in November. and ihls mtliic 18 IhèrèforÈ èxpe¢led to show $1gnificanl reinveslmenl in 2026. Approved by order ol th8 board of bustses on .... . and 8igned on Its behalf by., R D Sage- Trustee Page 5
WOLLASTON ANO PAUNCEFORT ALM8HOU8E CHARITY ststgmgnt of Tru$tee$' Responslbllltles lor the Year Ended 31 December 2025 The Iru8tee$ gre reswn8ible for preparing the Rem ol the Trustees and the finarla1 8lalernenls in a¢¢ordance with applicable law and UThted Kingdom ACCOUnng Standards (United KgdOM Generally Accepted Accounting Practice). The 18w appcabI to charllles in EThJland and Wales, the Charitie8 Act 2011, Charity (Accnts and Reports) Regulallons 2008 and the wovision$ ol the trust deed requires the trustees lo prepare finan¢lal 8talèm8nls for each financial year which give a true and lair view ol the stale ol affairs ol the charity and ol thè. ineomlNJ resources and application of resources, induding the income and expenditure, ol the tharfly for that pgrtod. In pieparing those finanual statements, the trustse5 ate required to seleci suiiat4e accLJuntino pc4icles and then apply thorn nl5ntty.' - obs8rve the mothoKls and princIe$ In the Charty SORP,. make judgements and estirnales that are reasonable and prudent.. prepare the financi81 st8lements on ts golng eoncem basis unles5 It 18 inapprorthate lo presum¢ that the charlty 11 contlnu8 in business. Th8 trustées ar8 respOnslIe lor keeplng proper accounting records which disclose wth re8sonabie accuracy al any Ilme the financial p0SOn of the charity and lo enable them lo ensure Ihal tre finarrial statements comply with the Charitie5 Act 2011. th8 Chaiity [AUts and Reports) Régulations 2QW)8, the Housing and Regenerali¢)n Act 2CA)6. the A¢¢ounllng DIre"On for PrNate Reglslered Pro*iders of Social trUSing 2022. and the 1x0visn$ ol trust deed. They are also responsib19 lor safeguarding the assets of the and hene8 lor taking reasonae sleps for the prevenllon ar deloction ol fra1 and olh•r Irregularilles. P8gÉ 8
Independent Exam18 Report to the TruBtoeB of Wolla8ton and Paune•fort Alm8hous• Charlty Ind¢perOnt &xamln•r'$ roport lo the Iru$tees ol Wollaston and Pauncefort Almshouge Charlty I report to thè d)aiity Irusleeg on my èxamination ol the accounts ol Wollaston and Pauncelort Almshouse Charity Ilho Tru$ll for the year ended 31 December 2025. Respon81bllltles and ba818 of report As the charity Irusletrs of the Trust you r&sponslbl• lor th8 preporation ol Ihe accounts in accorda¢ wth the r8qulrements ol thè Charities Act 20111'the ACVI. HaV1r satosfied myself that the aetounls ol th8 Ch&rity 8r• not required to be audfced under Section 136131 of the Houslng and Regsneratlon Act 2CQ8. an indepèndent examlnallon has b9en calld o(rt. I report in respect of my examination ol the Tru8fs accounts carri8d oul ulld8r Seclion 145 of the Act and in carryirvJ out my examination I have folowed all applicable Dire(on8 given by the Charlty Cwmlsslon der Secl¢on 145I5llbl ol thè ACL Indèpendent examlnerf8 8talement I have completsd rlly exarnination. l Confimi that no material mallers have Come to my ailenllon In connection wllh the &xamination givir¥J me cause lo bellev8 thal in any material rospecl". ac¢ounting records were nol kept in respect ol the Tru8t as requirgd by Se¢tlon 130 01 the Act.. or slI0n 13512113101 the Housing and Regeneration Act 2008., or tha accounts do rnt accord wth those r8cords,' or the accounts do not compty with the 8ppli¢able requlrements cOerning Ihe forni and ¢onient of Unts sel out in the Charities (Aecounls 8nd R8Ptsrtsl Regulatlons 2¢J)8 olh8r than 8ny requirem$nt that the accounts gNe a trut and fair Mew which is not 8 matter Gonsidefed as part of an Independent examina'on. I hav8 no concerns and have come xross no other matters Sn connecllon wilh the examination to which allenllon be drawn in this rewrt in order lo enable 8 prOr underst8TrJing ol the accounts to be reached. Thls rert 15 made lo thè TruÈt8ts, as a body, in accordance with th? terms of rny engagemenl. Our work haa béèn undèrtaken so ihat we rnighl carry out an Independ¢nl Examlnats"on ol the financial slaternents In awordan wllh Ihe General Diiectlons givèn by Ihe Charity Commissners. To the full88t extent permSlleiJ by law, we do not accept or assume sponsbillty ¢0 anyone otherlhan the Charity and the Charity'$ Tiust8•S."8s B body, for our work Qr for this r&port. Jarnes HollaThY-Le8der FCA Kllox Cropper LLP Chartè A¢£ountsnts Offiw Suite 1 Haslemere HthJs8 Lor Street Haslernere Surtoy GU27 2PE Page 7
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY ststement of Flnanclal A¢tlvltlg8 for the Year Endod 31 Dg¢*mber 2025 2026 Total funds 2024 Total fund8 unr8slrt8d fvnds Restricted ftjnd Notes INCOME AND ENDOWMENTS FROM DonatiS and legacies 1,000 1.000 2,384 Charltable a1¥tleS Housing 36.19S 36,195 21,7 Invo51rllEnt Inomg 1258 2,305 Total 39,453 EXPENDITURE ON Chorftsblo a¢tlvltle$ HousiThJ 47,869 Net g8lnslllos$e81 on InvÈstm•nts 906 2.281 NET INCOMEIIEXPENDrruREI 16,1291 14,1931 19,322) 5.479 RECONCILIATION OF FUNDS Total funds brought forward 345.442 201N26 546068 541.389 TOTAL FUNDS CARRIED FORWARD 197.233 537 546 Thè notes lomi part of these IlnarKlal statements Page 8
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Balan¢0 Shetrt 31 Dec¢mbèr 202 2025 Total funds 2024 T¢)tsl lurn4s Unrestricted fuThJs Rèstsicted rund Notes FIXED ASSETS Tangible a85els Investments 12 13 207,876 197,233 405,109 411.605 293.304 197.233 490,537 497,473 ¢URREKf ASSETS Stocks Debtor8 Cash at barhk 14 15 6.222 20,239 6,222 20,239 22,126 67,376 67,375 56,729 CREDITORS Amounts falling due wthin Cbna yaar 16,6731 16.873) 17.3341 NET CURRENT ASSETS 60.702 49.395 TOTAL ASSETS LESS CURRENT UABILITIES 364,006 197,233 551,239 540,868 CREDITORS Amount8 falllng du$ after rnore than one year 17 (13,6931 113.6931 NET ASSETS FUNDS Unrestricted fun(Is Restricted funds 19 340.313 197233 345,442 2D1.426 TOTAL FUNDS 546 868 Tho financlal ststements weré approv8d by Ihg Bggrd ol Truste88 and arthorf86d for Issue on .. ... and were signed on its behalf by.. R D Sage- Tru8tè& A Ros8- Trustee The notes form part ol these flnanaal $18tsmonls P8ge 9
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Notes to the Flnanclal Statements for the Year Ended 31 December 2025 ACCOUNTING POLICIES B••l$ of preparlny thè fln8181 Statèments Thg finana81 slatam8nts of thè charity. which is a public benefit enllty under FRS 1, hav8 begn prepared in accordance with the Charilies SORP IFRS 1021 'ACcoun.Dg and Reportlng by Charits8s'. Statement of Recommend Pradcè app]k8& to charities preparing thèSr accounts in accordan swth the Financial Reporting Standard applicablp in tho UK and Republ1¢ ol Irelond IFRS 1021 l¢ff¢¢tiYo 1 January 20191,, Financial Reporting Slandarf 102'ThE Financial Roportlng Standar¢J applicable in the UK and Republic ol Ireland, and the Charthes A¢t 2011. The accounts comply wilh Ihe Charities Act 2011, the Housing and RegerrdIFon Act 2008 and thg Aollti Oirestion for Prvale Regi81grgd Prowidets of Social Housing in England 2022. Thg financial 5talwllenls have been prepared d0r Ihp historical cost wnvenlion. with Ihe exceptlon of invem¢S whl¢h ale indude(l al m8rKel value, as modifled by the revaluallon of certain assets. The fjnanckgl staleThenls are wesente(I Irh slerlirvJ, which is the functlonal currency ol IIE Charity and are rounded lo the neaiesl pnd. The accounts have been prepared to give a 'lrue and lair Vie and have departed trtyn ltr Charlli8s (Accounts and Reports) Reguktions 2CrfJ8 only to the exlenl requlred lo provide a Yrue and lair wew. Tlis departure InvVed fcpllowng Accounting and Reporling by Chaiities Prepari their accounts in accordan with thè Flnancoal Rportlng Standard applicabl& in th6 UK and Republic ol Ireland IFRS1021 issued on 16th Juty 2014 mther than the Accounting and Reportlng by Chwitie$ Stalèmenl of Rècommènded Practlce èffedlv8 from 1st April 2005 whieh has since been wtihdrawn. Golng concern The finand81 $talemènts hav8 b88n prepared on 8 golng concern basls As the Trustess believe that no material uncertainties exist. The Trustee8 have considered the level ol funds held and the expected level of incomo and èKpènditLJrè lor 12 months from authorlsing thesè finanaal stalem•nts. Th& budgeted ineorn& and expeThJiture is sufhcienl wllh the level of resewes for the Charity lo be able lo continue as a going concem. Crltlcal a¢¢ountlng Judg8mgnts and k¢y $ource$ of gstlmatlon un¢grtalnty The followng are the critical judgements and key $ource8 of estimatn urKertainty Ihal the Boafd h88 Made In Ihe process of applying the ¢harily's a¢¢ounling polle4e8 and that have Ihe m081 significAnl effÈel on th8 amounts in the financial s1enIs.. Identification ol Iv)uslng property components The charity a¢CCbunt8 for its ¢KpendIre on housing propèrtles uslng ¢ornponenl a¢¢ounliNJ. Under componènt awountlng, th¢ hous9 piopth is divKled intg those major ¢ompon¢nls whth wnsid¢red to have subslanllalEy differÉnt uèèlul ètoncmrlc Ilves. Judgèmènt is usÉd in alloealing prowrty to8ts ba#èn compononts (land, sIrtUre. kitchens. balhrooms otc) and in determining the usefvl economi¢ lives ol each wmponent. Houslng prortY depdatIon 1$ calojlated on a ¢ornponenl by MpOnnI basis, The idonlification of such components 15 a malter oljudgemenl and may have a material imp1 on the depreciation charge. The components selected are those which reflect how the major repairs lo the propety are managed. Incom? All income is recogni$ed onee the Charity has Ènlitlemenl lo the Incme, il Is probable that the income will be received and the aThounl of income receIVab can be measured reli8bty. Inrne from housing repre88nts housing conlribullon5 from weekly maintenance charges from residents. No arnounl is IjU[ld in Ihg finanaal slalgmonts for volunlegT liffle in line hth the SORP IFRS 102}. Investment Income Is eamed Ihrough holding assets for investment Purposes suth as 3har85, It indu¢Jed divldends and interesl, Where is not practical lo identify Iriveslmenl management costs iUrred within 8 sch8me wlh rea50n8ble accJJracy the investment income 15 reported net ol these costs. It is Includ en the amount can be measured r&ll8bly. Interest inwm¢ 1$ ro¢ogni59J using th? olfe¢bvg inlergsl method and divldend income i recognised a8 the Ch8rty's right to receive paymgnt is established. Page 10 continued...
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARir Notes to th• Flnan¢lal Statements- ¢ontlnugd for the.year Ended 31 Dgcembgr 2026 ACCOUNTING POLICIES - ¢ontlnu•d Income Social Housing Caprtal grants are recognised only when recefvable, or in th8 p&riod in thIch a scherne is com eted and where the amount of Ihe grant has been d¢lortninod. Grants are reflected in the reslricte(l Houslng Prowrty Fund wlh d8precialion on giant tund¢d assets reducing this fund. Expgndltur• Liabilities are re(x)gNse(18s expenditure as soon as there Is 8 leg31 or nstrUCtIve oblS9ation ¢ommittirrtJ the charity to (hat &xpendibJre, il is probable that a transler of economic benefits wlll be r¢quSred in seitlernenl and thè amount of the obligation can be measured rtsliably, Expendlture Is accounled for on an acc¥uals basis 3nd has been d4sslfi¢d under hèadlnos Ih8t aggrégate all cost relaled lo the category. Where costs c8nnot be ¢Jiredly attrlbuled to particular headiTrJs they have been a11ocaled lo acliwties on a basls consislenl wlth the use ol resources. Tanglbl• flx•d ass8t8 Hou¥lng PTOPertl¢$ Wollaston and Pauncelort Almshouse Charlty prop@rt1è8 w8rè construded In the mid 18th Century. The cOnstrOn and improvernent costs ol the Housing Propertie5 We funded by a Housing Coiwration Inow Hom88 and communth.es Agency) gran( a mortgage loan from ThÈ Royal Bank ol Scotland seojred by a tharg8 on housing, latNJ and bulldings and from Wolla51on PaurKofort Ajmshtsuse Charity's own resOu_ Housing proptho$ aro Slated at depredatsd cost The cost of completed h¢uslng prop8rt16s is depreciated over the life of the properties. Propertièa arè Aecountad for on a componenl cost basis Wrth each ¢(ponent bng depreciated over ils eslimgted oconomir Ilfe. The principal components id8nkn.fied (1 IM dèpr8aation rate applied lo each component are Set out below,. Yoars 100 70 40 30 30 30 20 15 Fabik Roof Eleclilcs ndow8 and doors Bathrooms Mechanical systems Kitchen8 Bollers Stock Stocks are valued at the lower ol cost ar¥J n¢1 realisablg value, aft¥ makirg due allowance obsdete and slow mowng Items. Toxafjon The charity is exempl fromlox on its th?rrtabl& activitle$. Fund accountlng Unrestrlcted funds can be used in accordancé with the ¢hariiablé ¢bjectlves al the disrtsuon of th¥ Iruslees. Restrl¢ted funds can only be used lor particular reslricldd purposes wthin the objècts ¢1 tho ¢harfty. Reslrt¢tion$ arise when specified by the donor or when funds are raisod for partilaT rostd¢ted purposes. Further explanation of the nature and piNposg ol each lund is indudod in th¢ ngle5 to Ihe f nandol stalem¢nls, btor8 Trad@ and other deblDrG are COgnISed 81 the sÈttlemenl amount due after any trade discount offered. Prepayments are v8lu8d at the amount prepaid net of any trade discounts dug. Cash at bank and In hand Cash at bank and Gash in hand includes cash and short term highty liquld investmen18 wlh 8 Short maturity ¢1 three monihs CK k8s frorn the dale of acquisi0 or OnIng of the doposil or similar awunl. Page 11 cOn.nued...
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Notes to the Flnanclal Statements- contlnued for the Year Ended 31 December 2025 ACCOUNTING POLICIES- Contlnu Credltors and provl¥lon$ Creditors and provisions we re¢ognlsed where ¢he charily has 8 present cl)ligalion re$ulling from a past 8venl that wlll probably result in the transfer ol funds lo a third pariy and Ihe 8rnounl due lo settle the obllgation can be mea8ured or estimated reliably. Creditors and provisions a normally recognlsed at their settlement amount after allowng for any trade discounts due. Flnanclal In8trurnents Thé charity onty has financ4al assets and financial liabilitios ol a kind that qvality as basic financial inslrumerits. Bas fin8n¢ial Instwments are initialty recognised al transacllon valuo and $ub$equentty mea8ure(l at théir $8th8m•nl value wlh the exceplicffl of bank loans which are subsequonlly measured at amortised ost uslng the effecllve interest method. InvtMentS Inveslmenis ar8 a forrn of basic fjnanixal Invo8tmenl gnd 8r8 initially recognised at Ihelr Iransadion value and subsequentty measured 81 fair value 88 at thè bal8[0 sheet dale using Ihe c108ing quote(I market prlce. The statement of finan1 adivilios indudes the nel gains and losses arisiry on revalu811on8 and d18posals througb)ut the year. Realised gaS and10sses on InvÉstm8nls are 2AIDJlated as the differen btheen sales woceeds and their openlng cairying valu¢ or their pur¢hose value il acquired subsequent lo the ffi1g1 day of Ihe fin8nci81 year. Unrealised gains and losses are cacul8ted as the diffèrèneè bÈtwe•n th8 falr value at the year end and thelr carrying value. INVESTMENT INCOME 2025 2024 INestrnenl income Dèposit aCCnI interest 2.253 2,305 INCOME FROM CHARITA8LE ACTIVITIES 2025 2024 Gross rnalntenance contributions from rosidenl$ LoBSe5 from v¢id$ 39.795 26.340 Page 12 conllnued...
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Note8 to the Flnanclo18tatem¢nts . c¢ntlnued for tho Y•ar Ended 31 Dèeambèr 2025 CHARITABLE ACTIVITIES COSTS Direct C081s (see Support C081$ Is90 not¢ 61 Totals Housing DIRECT COSTS OF CHARITABLE ACTIVITIES 2026 2024 Insura& Property repalts & malntenanc8 Alarm costs Rates and water Bad debts DepClaon 1.128 22.370 248 497 12,610 1,132 9,972 233 7,873 19,210 SUPPORT COSTS Governancè osts Manage1 Totals Houslng Support costs, Induded in Ihe above, are as followÈ'. 2025 2024 Total actiwlies Housing Clerk's fees Sundries SubsGTiplion Independent Examlnation 1.000 236 765 390 1,054 TRUSTE&8' REMUNERATION AND BENEFITS There were no Iiuslfje8' remuneralN)n or other benefits lor the year ended 31 Dernber 2025 nor for the year ended 31 08cemb 2024. Page 13 continued...
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Notes to th• Flnanclal Statsm•nts- contlnued for tho Yo•r Ended 31 De¢ember 2025 TRUSTEES, REMUNERATION AND BENEFIT8 . contlnued Trustse8' expen8eB Total expenses reirnbursed lo Iiuslees in the y6ar were as follows.. 2025 2024 Propety PaIrS and mainten8n( Sundrfg$ 261 7D £331 Exponses wer¢ reimbursed to no Trustees In the ye8r12(r24." 21. STAFF COSTS 2025 2024 Wages and salaries 1,000 Key Management personnel are defined as tho Tru51egs and Ihg Clerk lo Ihe Trustees. None ol the Tru81eès received any emoluments or reitnbursemenl of expenses. 2025 2024 Th¢ emolumenls olthe Clerk to the Truslees were as follows The average monthty numberofernployees dur1 the year was a$ I1 2026 2024 Clerk No emiloy88s r8C8IV8d emduments in eXs$ of £60.OCQ. COMPARA TIVES FOR THE 8TATEMENT OF FINANCIAL ACTivmES Unres1ri(aed funds Reslrl¢te(I lund Total fulld8 INCOME AND ENDOWMENT3 FROM DonatnS and legac¥es 2,384 2.384 Charltsblvj actlvltles Housing 21.7C¥J 21,700 Inv8Stm•nt income 2,305 Totsl 2e,389 2e,389 EXPENDITURE ON chatsbIè acUvltle8 Housing 23,191 Page 14 eontlnued..-
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Noteg to the Flnan¢lal Statsm•nts. contlnued for thè Y¢ar Endvd 31 D¢¢pmber 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued Unrestrted funds Restsicted rund Total nd¥ Net gains on invesbrenl$ 2,261 NET INCOMEIIEXPENDITUREI 9,672 14,1931 5.479 RECONCIUATION OF FUNDS Total lund$ brtsughl forward 335.770 205,619 541,369 TOTAL FUNDS CARRIED FORWARD 345,442 201428 548 866 10, SOCIAL HOUSING ACTIVITIES 2025 2024 Tumover kn So¢ial Housing Opera"ng costs ol Soaal Houslng 36,195 47 869} 21.700 Operallng (defilSurpkns aThJ Ideficllysurplus on Sooal HousiwJ actiVTtle5 1566) 11. SOCIAL HOUSING GKAKr The lolal Swal Hpusing Grant reiVed for Wo118Ston and Pauncefort Alm8hou¥e Charlly as al 31st December 2025 amounted lo £336.54512024'. £336.5451, The fvll Capltal Grant would only become repayable If the Alm8hw8eg were disposed of and the grant was 1 reCyd. Aggregate am01 reNed Al 31st DeTrmber 2025 31st December 2024 336.545 ReaSed to Stalemènl of Financid Atle8 Al 31810gcembo¥ 202S and 31st Decerllber 2024 336 5461 Socaal Housing Grant Carrled forward Page 15 ¢onllnued.,.
WOLLASTON AND PAUNCEFQRT ALMSHOUSE CHARITY Nol•$ to tho Flnan¢l/l Statements- contlnued for the Year Ended 31 December 2025 12. TANGIBLE FIXED ASSETS Housing piop¢rtl95 COST At 1 January 2025 and 31 December 2025 DEPRECIATION At 1 Jpnuary 2025 Charge for year 134,559 At 31 December 21Y25 NET 800K VALUE Ai 310ecember 202S Al 31 December 224 411,805 13. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 January 2025 Disposals Revaluatiolls Accurnulaled dividend6 85,B68 14241 19061 890 Al 31 December 2025 NET BOOK VALUE Al 31 Decemb8r 2025 Al 31 December 2024 There were no Inveslmenl as80ts out&do tho UK, 2025 2024 Mark*t Valuv Market Val C08t Cost The Investments comprise the fc4bJwlng'. 40712024.. 4071 Blackrc Charinco Income shares SB6 500 577 17,813 {2024'. 17.8131 M&G Charity Multi A5591 Fund Income Shares 18412024.. 1841 COIF Accumulalbn Shale5 IE.R.FI 18,423 12,400 16,536 12,400 46,929 19.490 11.838 1,618 47,882 20,470 423 10,948 1,618 375 1,CKJg12024'. 1.9) COIF In¢¢? shar Nil12024.'3921 Chanbond CIF In¢thre Shas Balance at 31 Decemb8r 2025 85,428 26,356 86,868 25,841 Page 16 continued.,-
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARrrY Notss to the Flnanclal Staternents- ¢¢ntlnue for tho Yoar Ended 31 D袕mbèr 2025 14. STOCKS 2025 2024 Stocks 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Arrears of maintenance contribution8 Provlsion for doublful debts Belham A8socialo5 Gllonl c Prepayments Bnd accrued Inrne 27,610 112,610) 4,495 744 21,430 696 16, CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Olhtsr creditors 17. CREDITORS", AMOUNTS FALUNG DUE AFTER MORE THAN ONE Y&4R 2020 2024 Other creditors 18. LOANS An ansls ofthe malurfty of loans is given b810w. 2025 2024 Amount8 f8lllng duè h1n one year on demand.. Almshouse soa10n Loan 1.307 Amounts falling due in more than five year8.. Repayable by Instalments.. mshouse Ass00aOn Loan 13,693 Pa9817 ¢onUnued..,
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Notes to the Flnanelal Stataménts. contlnued for thè Y•ar End•d 31 D¢cember 2025 18. LOANS . contlnugd During th8 y8ar Ihe charlty was 8pproved fr>r a loan from the Alm8hous• Associatic*n. The lolal avallable lending Bmounls to £45,(m, which 1$ interest free. During Ihe year, tho arnc)unt drawn do totslled £15.0. The loan 18 repayable in inslalmenls evary slx months over a 10 yoar perlod mMeng June 2026. 19. MOVEMENT IN FUNDS movement In funds At 31.12.25 At 1.1.25 Unre•trl¢ted funds General fvnd Investment Revauation Fund Property fund 112,427 60,027 q72 988 14,1731 19561 108.254 59.071 172988 345.442 15,1291 340.313 Restrlcted funds Housing fund 201A26 14.193} 197.233 TOTAL FUNDS Nel movarnent In funds. induded In the above are as Idlows.. Incoming resoue8 Resourco expended Gains and losses Movement irh lunds Unrestrlcted fund5 General fund Investment Revaluation Fund 39,453 143,6761 50 14,1731 39.453 (43.6761 (9061 15,1291 R•strlcted fund¥ Housing fund 14.1931 14,1931 TOTAL FUNDS Page 18 con"n&d...
WOLLASTON ANO PAUNCEFORT ALMSHOUSE CHARI Notè$ to thè Flnanclal Ststements . eontlnued for th? Yg?r Ended 31 Dgcgmbgr 2025 19. MOVEMENT IN FUNDS . contlnued ComparatlveB for movernent In funds Nel M0m8nt in funds At 31.12.24 A11.1.24 Unr*8lrfeted fund$ G¢nei4 fund Investment Revaluath?n Fund Propety nd 105,036 57,746 7.391 2.281 112,427 60.027 335.770 9,672 345.442 Restrlcted funds Housing fuThJ 205,619 14.1931 201,426 TOTAL FUNDS 541389 5.479 546 868 Comparative nel movemenl in fun¢Js, induded In the abovè 8r• 88 follows: In¢oming reSoue$ Resources oxp?n(1od Gains and lo¥ses Movement in hJnd$ Unrestrlcted fund8 Genèral fund Investment RevaluatKn Fund 26,389 118,9P81 7,391 2.281 2.281 26,389 118,9981 2,281 9,672 R¢stTlcted fund¥ Housing fund (4.1931 14,1931 TOTAL FUNDS 26,389 23,1911 2.281 Invo$lment Revtslutlon Reserve This represents Ihe thflerenc& befften the market valu• and cost of Investrnenl8. Prop•rty Fund This designated reserve p[SentS that proportlon of th9 cost ol tperfe$ which was fin8nced by chariiable donab"on$ and thtt Charivs own resources. Hou$lng Prop•ty Fund This represents the Goclal hsing grant r¢cgfved from Hou81ng Corpo10 lor property prOvements to th& Alm8house& Depreciation on housing prq)erUes is charged lo this fvlld over the life ol the cornport8 ol the bullding. Page 19 continued...
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Not9¥ to thg Flnan¢lal Ststsm¢nts- contlnued for the Ygar Ende(131 December 2025 RELATED PARTY DISCLOSURES During the year ended 31st DècèMb8r 2Q25, Bethan Associates. of which A Bethatn (Trusleel 1$ 8 princlpal ol th8 firm. recelved £30,OCpJ into Ih¢ir cliont ac¢ount lo facllitate Ihe Almshouse refurtyshmenl projéct. Out ol those funds. £25.510 had been paid to contractor8 and supplièrs in the yèar. Interest of £5 had been recewed in the cent account. leaving a balance due bath lo tho Charity 01 the year end of £4,495, as disdosed in note 15 01 the finaneAal slalernenls. The Clerk lo the Charlty W2Ned £1.000 in the yeai lo 3fj$1 December 202512024.. £).). Thls w88 donat8d back to the Charity by the Clgtk. 21. UNITS IN MANAGEMENT Tha Ch8rity had 6 units in Management during Ihe year.12024.' 61. Page 20
WOLLASTON AND PAVNCEFORT ALMSHOUSE CHARITY Detalled Ststement of Flnanclal ActlvltSes for the Year ETrled 31 ¢ernber 2025 2025 2024 INCOME AND ENOOWMENTS Donatlons and l•gacle8 Donations 1,000 2.384 Investment Incomg Inwestmenl income Dep0511 aGccwnl inlotest 2,253 2.305 2.258 Charltsblo a¢tlvltlg$ Housing Activities Losses frorn void8 39,795 3,6aoi 26,340 21,71 Total Incomlng resources 39,453 26,389 EXPENDITURE ¢harltabl• a¢tlvltit$ InstJran¢e Propgrty ropalrs a maintenan¢ Alarm costs Rates and w8ter Bad debts Depreciation ol hjsIng properties 1.128 22,370 248 497 12,610 1.132 9.972 233 7.873 43,349 19.210 Support coyts Manay¢m¢nt Clerk's fèe8 Sundries Subscripttons 1,0th) 1,Ot 2.OD1 Governance c08ts Indendent Examlnall 2.076 Total SOurCeS expended 47,869 23,191 Net l•xp8ndlturnylncom• baforè galn8 and 1088WJ 18,4181 3,198 Rea118ed recogn18ed galn8 and 108999 Carried foThYard 1IOh921 1.218 This page does not form part ol tha statutory finanaal statements Page 21
WOLLASTON AND PAUNCEFORT ALMSHOUSE CHARITY Detslled Statement of Flnanclal Acllvltle• for the Year Ended 310eGember 2025 2025 2024 Roall$vd r¢¢ognls6d galn$ and108$e8 Brought forward Reali8ed gainslllos88sI on fixed as591 investentS 110.4921 50 1.218 Net (expendlturelllncome B.3661 3.158 This page doe8 not brm part of11 ststutory finanual statements Pege 22