THE ALMSHOUSES F ANN HOPKINS SMITH RE TER us NG ASSOCIATION N A2987 RE ARiff NO 236609 FINAN AL STATEMENTS FOR THE YEAR DED 20 THE ALMSHOUSES OF ANN HOPKINS SMITH TRUSTEES: J. Rawlings A. W. Evans J. Roberts H. Watkin8 M. Keen D. Chennells R. Lav81 B. WlSiams S. Watson CHAIRMAN: D. Chennells SECRETARY". J. Robert8 TREASURER: J. Rawlings ADMINISTRATION OFFICE J. Rawlings PRINCIPAL OFFICE: Almshouses Nos. 39to61, Weston Road, Olney, Buckinghamshire. MK46 6BE BANKERS: Bardays 8ank Plc., Leicester LE87 2BB The Charits'es Official Investmeni Fund. Sl. Alphage HoLtse, 2 Fore Street, London. EC2Y 5Aa AUDITORS: CILfford Roberts, Chartered Accounlants, & Statutory Auditors, Pacioli House. g Brookfield, Duncan Close. Mr#Jlton Park, Northampton. NN36 INVESTMENT MANAGERS: CCLA Investment Management LinNted. Senator House, 85 Queen Victorya Street London. EC4V 4ET M&G Investmen16 Charity Department PO Box ￿38 Chelmsford CM99 2XF THE ALMSHOUSES OF ANN HOPKINS SMITH 298 FINANCIAL STATEMENT R THE YEAR ENDED 31 T DECEMBER 2024 CONTENTS 1- 2. Report ofthe trustees 3- 6. Report ofthe auditors Statement of finanrAal activities Balance sheet Ststement of cash Ilows 10- 20. Notes lo the financi￿ statements HE ALMSHOU OFANNH PKINS SMITH RE TERED HOUSING ASS CIATI O. A2987 REGI TERED CHARITY NO. 235609 REPORT OF THE TRUSTEE The Trustees present Iheir report and the audited financial ststemenls of the charity for the year ended 3111 Decembw, 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI 'Aecounling and Reporting by Charities. IFRS 1021 in preparing the arnual report and financial statements of th2 charity. The finaneial slalements have been prepared in accordance with the accounting policies sel out in notes lo the accounts and comply with the charity's goveming document. the Charitie5 Act 2011 and Accounting and Repc*ting by Charitie5'. Statement of Recommended Practice applicable to Charitie5 preparing their accounts in accordance with the Fin8nci81 Reporting Standard arplicable the UK and Republic 01 Ireland pubbshed in October 2019. cture Govemance and Mana ement The charity was registered on 9th July 1964 and is governed by a tfust deed dated 201h December, 1979 (as amended by stheme dated 16th August 19991 which auih0ri5es the trustees lo perfomi the 04.acts of the charity. The recTUitmenl, appointment and Ir#ining of new trustees are eonducted by existrng trustees. Ob ctlves ol the charft The charity's prIn￿PaI objective is the provision of an Ajmshouses for poor aged widows ar spinsters, with preyerence being given to the inhabilanls of the parish of Olney. Publlc Benefft All of the Charity's ath'vilies ere undertaken to futher our eh¥iiable purpose for the benefit of the public. The ITUStees have had regard to the Charity Commissii)n guidance on public b8n8fit in section four of tre Charities Act 2011. The main benefits wtruch have arisen during the year from the ￿ganIsatIonS aims and actiwli8S are detsiled in the following sections and in the financial review. Trustees The trustees who have served during the year are as foll(ws-. - Served throu houE 2024 A. W. Evans H. Watkins M. Keen J. Rawlings J. Roberts B.Wlliams Ll. Chennells S.Walson R. Laval Revlew of the aes actlvltles The g6naral balanca b￿￿&&n incomo, exponditura and re6&￿e$ has r￿laIned satislactory throughout th6 year. The ovefftll nel asset position of the charity remains v8ry healthy. The ehanty continues lo make provision wllhln Its extra- ¢)rdinary repair fund should any significant repairs be rewired to th8 Almshouses. Poll¢ on Reserves The tfuslees consider that the unrestricted reseNes, al 31st December 2024 are SLrfficient to sustain ils operations sh￿Id incom￿eneratIng activities be curtailed unexpectedly over the forthcoming year. The other reserves maintained are in accordance with Ihe gov8rning documents of the trust lo ensure the continued financ4al health of the charity- The trustees have assessed the major risks lo which the chanty is exposed, in part'cular those relating to the Op8rat￿n5 and finances of the charity and are satisfied that systems are in place to mitigate our exposwe lo the major riskg. THE ALMSHOUSES F ANN HOPKINS SMITH TERED HOUSING ASSOCIATION NO. A2987 REGISTERED CHARITY NO. 235609 REPORT OF THE TRUSTEES CONTINUED Plans for F￿Ure erlod6 The Charity's fijture F4ans include the cefitinued provision of sheltered housing for local eldedy and single pectye. There are no plans for either grovrth or 5caing back of operations, and the current level of reserves Within the charity wll allow for this continued provision. Statement of trustees, res onslbnftles The trustees are responsible foT preparing the Tru5tees' Annual Report and Ihe flnanctal statements in acccfdance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicabl8 to charities in England and Registered Social Housing Legislation require requires the trustees to prepare financial statements for each fin3nciai year which give a ttue and fair view of the state OY affairs of the ehanty and of the incoming resources and application of resourc88 of the charity for that period. In preparing these financial slatemenls, the Irust8es are required lo.. select suitable acc4Junting policies and then apply them wtsistently.. observe the methods and principles in tho Charities SORP 2019 IFRS 102}', makejudgemenls and estsmates that are reasonablo and prud8nl', state whether applicable accounting standards have been followed, subject to any maierlal departures disd05ed and 8xplain8d in tha financial statèmènts., prepare the financial statements on the going Goncem basis unless il is inappropriate to preS￿e that Ihe chwity will continue in operation. The tnjstees a￿ responsible for keeping proper accounting re￿rdS that disdose with roasonable accuracy at any time the financial position of the charity and en8￿e them lo ensure that the financial statements comply with the Charities Act 2011 and the provisions ef the trust deed dated 2¢)ih December 1979, tho Housing SORP 2018.. Statement of Recommended Praclice for Registered Social Housing Promders and comply with the Accounting Direction for Pn"v8te Registered Provider5 01 Social Housing 2022. They are also responsible for safeguarding the assets of the charity and herKe for taking reasonabl8 St8ps for the prevention and detection of fraud and other irregu18rrties Tlus report was approved by the committ88 of trusta8s on 211t May 2025 and sign•d on rts ￿half by". J. Roberts Secretary THE ALMSHO SES OF ANN HOPKINS SMITH ISTERED HOUSING A ci NO. A2987 REGISTERED CHARITY NO. 235609 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE ALMSHOUSES F ANN HOPKINS SMITH We have audited the financial statemer¢ts of The Almshouses of Ann Hopkins Smith (the '¢harity') for the year endeé 31st December. 2024 which comprise Slalemenl of Financial Acb"vity, Balance Sheet. Slalement of Cash flows and notes lo the financial statements, induding 8 summary of signfficant accounting polic&es. Th8 financial reporting framewark lh* has been apFlied in their preparatson is applica￿ts law and United Kingdom Accounts"ng Standards, including Financial Reporti'ng Standard 102 The FinanGial R8POrting Standard applicable in the UK and R8publiG of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the finan￿al statements-. give a true and fair view of the stale of the chaity's affairs as at 31st December. 2024. and of Its incoming res￿ree5 and 8pplication of r8sources, for the year then ended-, have b&n property prepared in accordance wlth United Kin9dom Generally Aecepted Accounting PractSW and have been prepared in acc(ffdance with the Housing SORP 2018.. Stslement of Recommended Practice for Regisiered Social Housing Providers and comply wiéh the Accwnling Direction lor Private Registered Providers of Social Housing 2022. Bag1• for opiTrion We eonducted our oudil in acwdanee with Intemational Standarés on Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs respc)nsibilth"es for the audit of the linancial statements secb.on of our report. We are indepen(lent of the charity in aceordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Slan*Jard, 8nd we have fulfilled our other ethical responsibilities in accordance with these requirernenls. We believe that the audit evidènce we have obtained is suffiaent and appropriate to provlde a ba$is for our opmnion. Concluslons relallng to golng concern In auditing the financial statements, we have concluded that lh8 trustees. use of the giyng concern basis of accoLtntfing in the prèparation of the )Inanaal statements is appropriatg. B8sed on the WQTk we have performed. we have not identified any material uncertainties relatsng to events or conditions that, individualty or eollectively, may cast signfficant doubt on the charitable company's ability lo conts'nue as a going concem for a period of at l&asl tsvelve months from when the finanaal statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with re$p6ct lo g￿ng concwn are described in the re18vant sects'ons of this reporL Other Infomiatlon The other infDmalion Gornprisgs the inforniat￿0n included in the report of the trustees, other than the finanryal statements and our audilor's report thereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not rnver the other informakn'on and. except lo the e)rtent otherwise eXplic￿Y statèd in our report, we do not express any fomi of assufan¢e condusion thereon. Our responsibility is to read thè other infomiation and. in doing so, ¢onsid8r whether th& othar trnlomiation is materially inconsistènt with thg financAal ststemenls c* our knowledge obtained in the course of tre audit or othernwse appears to be materially misstated. If we idenlrfy suth material inconsistendes or apparent materi81 misst8lefflents, we are required to detErmine whether this gives ris8 to a material misstslemenl in the financi81 statements themselves. If, based on the work we have performed, we condude that ther8 is a material misslalement of this other 1nfwnat1c￿. we are required lo report that fact. We have nothing to ￿POrt in this reg¥d. THE ALMSH SES F ANN HOPKIN RE TER AS oc AT DENT A RTT THE TR TE THE CONTINUED Matteys on which we are requlred to report by exception In the light of the knowtedge and und@rslanding of the charity and its environment obtained in the course of the audil we have not idBntsfied material misstatements in the trustee. report. We have nothing to report in respect of the following matters in relation lo whlch the CharlUes (Accounts and Repcitsl Regulations 2008 requires us Its report to you if. in our ownion.. adequate accounting reccfds have not been kept, or retums adequate fcf our audrt have not been received from branchès not visited by us.. or the finanaal statements are not in agreement with the accounting records and retums., or certain disclosures of directors, remuneration specified by law are not made., e¢ we have not rec￿Ved all the information 8nd explanaticrs we require for our audr(. Responslbmttles of tN8teeg As gxplained more fully in the tnjstees, responsibilities slalemem sel out on pages l and 2, the tnjstees {who are also the dir8Ctors of the charilable company for the purposes of company lawl are responSi￿e for the weparalion of the fin￿¢181 slalements and for bèing s¢ti$fied that th8y give a truè and fair Mew, arid for such intarnal controi as thè trusta&6 determine is necessary to enable the preparation of financial statements that are free from material misststemant. wh@Ih8r e to fraud or error. In preparing the financial 5tatement8, the trustees are responsible for assessing the chgrty's ability lo continue as a going concern, disclosing, as applicable. matters rd81ed to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or lo cease oper8tions, or have no realistic altemalive but to do so. THE ALM SES OF ANN HOPKIN MITH REGISTERED H SING ASSOCIATION N A2987 REGISTERED CHARITY NO. 23S609 INDEPENDENT A DITORS. REPORTTO THE TRUSTEES OF THE ALMSHOUSES OF ANN HOPKINS SMITH CONTINUED Audltovs responslbllities forthe audlt of the flnanclal Jtatements We have bean appointed a5 auditor under section 145 of the Charities Act 2011 and report in accord8n¢e with regulat￿n5 rna(Je under section 154 of that Act. Our objectives are to obtain reasonable assurance aboLrt whether the financial statements as a whole are free from material misstatement, whether due to fraud or e￿￿. and to issue an auditor's report that incIL￿deS our opinion. Reasonable assurance 15 a high level of assurance. but Is not a gtsarantee that an audit conducted in accrKdance with ISAS IUKI will always detect 8 material misstatement when it exists. Misstatements can aris8 fmm Iraud or error and are c￿ls1dered material if. indiwdually or in the aggregate, they could reasonably be expected to inffluence the economic decisions of useTS tsken on the basis of Ihese financial slalements. Ir￿gUlarIties, including fraud, a￿ instances of nonwcompliance with laws and regulations. We design procedures in line with wr responsibilities. outlined above, to delect material misstatements in respect of irregularities. including fraud. The specific procedures for this engagement and the extent to which thesè are capabio of detecting irregulanb"es, Including fraud is d$lailed below.. We obtained an understanding of the legal and regulatory framework applicable lo the charty and the sector in which they operate. We determined that the following laws and regulations were most significant. the Charities Act 2011. United >Qngdom Generally Accepted Accounting Practice, the Housing SORP 2018.. Statement of Recommended Practice for Registered Soual Housing Providers and comply with the Accounting Direction for Private Regist8red Providers of Social Housing 2022. We obtained an understanding of how the charity is complying with those legal and regu1810ry fr8mework5 by maknng inquiries lo the trustees and by obserwng the oversight of Iruslees, the culture of honesty ant1 ethical beh8viour and whether strong emphasis is placed on fraLKI prevention, which may reduce the opportunitses forfraud to take p18ce, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance. We corroborated our inquiries through our review ol all relevant available auclit information. Wa assèssad Und￿tOOd Ehg suscaptibility of the charrty's financial statamwts to material misstatement, including how fraud might occur. Based on this understanding we designed our audli procedures to identrfy norr-compliance with such laws and regulations. The audit wc¢edure5 perfonned by the engagement team induded.. Idenlitying anrl assessing the design and effectNeness of controls trustees have in place to prevent and datect fraud-. understanding of how trustees considered and addressed the potential lor override of controls or other inappropriate infiuence over the financial reporting process.. Chall￿gIng assumptions and judgements made by trustees in ils signrficanl accounts.ng estimates", Performing audit work over the risk of management overTide of controls, inc￿ding testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale slgn1ficanl transactions outside the nom181 course of business, and reviewtng accounting eslimales for bi8$', enrj, Assessing the extent of comrA1an￿ with relevant laws and regul8tion$. Because af the inherent limitations of an audit, there is a risk that we will not detect all iThegularities, including those leading to 8 material misstatement in the financial slalements or non-rompliance with regulati(￿. This risk inueases the more that compliance with a law or regulabon is rernoved from the events and transactions rellected In the finanrAal statemenls, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regwdng irregulari(ies occurring due to fraud rather than erfOT, as fraud involves intentional concealment. forgery, cdlusion. omission, cr misrepresentation. THE ALMSHOUSES OF ANN H piaN MITH REGISTERED HOUSING ASSOCIA TION NO. A2987 REGISTERED CHARITY NO. 235609 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE ALMSHOUSES OF ANN HOPKINS ShllTH CONTINUED A further descriptian of our responsibilities is available ￿ the Fin8nci81 Reporting Counol's web51te at.. htps..lth￿.trC.Org.uk1our-w0￿IAud1uAud1t-anI￿*$Surance1stan￿ards-and-gUIdanQelSlandardS4n(l-gUIdan¢&f0r- auditorslAuditor5-re5ponsibilities-for-audillDescription-of-auditors-responsibilite>lor-audit.aspx. This descripts.on f¢)mis part of our auditols reporL Us• of our report This report Is made solely lo the charitable company's Irustees., as 8 body, In accordance wlth Part 4 01 the Chp*hles {Accounis and Reports) Regulations 2008. Our audit work has been undertaken so that we migm stale to the charities ITUSt8es those matters we a￿ required lo state lo them in an auditor's report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility lo anyone other than the charity and Ihe tharilies trustees as o body. for our audit wc*k, for this report, or for the opinion5 we have lormed. CLIFFORD ROBERTS Chartered Accountants and Sta￿tOry Audltors Pacloll House, 9 Broolrfleld, Duncan Close, Moulton Park. Northampton. NN3 6WL Clifford Robert5 Chartered Accountants is eligi￿• lo act as an 8uthor in tern￿ ofsection 1212 ofthe Companies Ad 2006 THE ALMSHOUSES OF ANN HOPKINS SMITH REGISTERED HOUSING ASSOCIATION NO. A2987 REGISTERED CHARITY NO. 236609 STATEPIENT OF FINANCIAL ACTIVITIES: YEAR ENDED 31ST DECEMBER 2024 Repla￿llent of EqulpmeTrt and Future cycllral repwrg and maintenance ExtFa- Un- Valua￿0￿ restrrctad lund8 Funds funds 2023 repalr 2024 Inec*nlh4 *esources from actlv4tit in fvrtheronce ofthe th*lty'¥ objects:. Pro￿rtY revenue Eatst Street la Investment Inc