Charity Numbpr.. 236424 Re8ulator of 5oclal Housl Registratlon P4umber.' A0746 mshouse Assocl•tion Member Number: 0203 Rogers. Almshouses Report and Financial Statements For the year ended 31 December 2024
Rogers, Almshouses Report and Flnancial Staternents For the year ended 31 December 2024 Contents Trustee5. Registered Office and Ad¥i5er5 Report of the Trustees Independent Auditorfs Report 9-11 Statement of Financial Artivities 12 Balance Sheet 13 Statement ol Cash Flows 14 Note5 to the Finanti31 Statements IS-22
Rogers, Almshouses Trustees, Reglstered Office and Advisers For the year ended 31 December 2024 TrusteÈs- Mr S Holland (Chairl The Very Reverend A Bowerman Mrs J Simpson Iresi8ned 3 December 20241 The Reverend M S Evans The Reverend A Garrow Mr M Wri8ht Mr A Kempston-Parkes Mr A McPhee Mr P Foskett M5 M Start Iresigned 21 May 20241 Mrs L Elliott The Reverend M G Price lappointed 3 December 20241 Mrs R A Wri8ht13ppointed 17 September 20241 Mr R B Elliott (appointed I September 2024. resigned 8 April 20251 Mrs G Parkin lappoinled 18 Marth 20251 ReBlstered OfFlce: Crown Chamber5 Princes sireet H3frogate HGI INJ ReOstered Numbef: Charity.. 236424 Re8ulator of Social Housin8 IRSHI.. A0746 Almshouse Asswation Member Numbef.. 0203 Exlernal Auditots: Lithgow PerkFn5 Crown Chambers Princes Street Harrogate HGI INJ Bankers.. CAF Bank 25 Kings Hill Avenue West Mallin8 Kent ME19 4JQ Wifgin Money 21 James Stfeei Harrogate North Yorkshire HGI IQU
Rogers, Almshouses Report ot the Trustees For the year ended 31 December 2024 Accounts The Trustee5 Present their annual report and the audited financial Statements for the year ended 31 Ctrecernbef 2024. OblertTrves and publlc benefft The Charity is an unincorporated Charity registered in England and Wales (Number 2364241, a membe¥ ol the National Almshouse Association (Number 02031 and 15 registered wtth the Regulalor of Social Housing IReBi5tration Number A07461. In setting the objective5 and plannrng the activities of the Charity for the year. the Trustees have given careful consideration to the Charity Commission's general Buidance on public benefit. The Charity has pufsued ihe principal object fof vthich it was established, namely the provision of accommodation for the qualifying people of Bradford and Harro8ale and the Trustees are 50tisfied that the Charity delivers charitable activities for public benefit. The charity is administered in accordance wilh a scheme date 180ctober 2019. ManaBement and admlnlstratlon of the Charlty The Charity is mana8ed by a board of Trustees providing legal. finantial, buildin& property management and pastoral A part lime Scheme Monager is engaged to support the Trustees. be a first point of contart with restdents and to deal with general administration. Property maintenance and repair5 ale managed by the Stheme Mana8er on behalf of the Trustees. Accountin8 SUPPOrt has been provided by Lilh8ow Perkin5. Chartered Accountants. This ha5 included the production of an annual budget and quarterfy atcounting reports. Trustees continue to meet at least four tifnes a year for lormal meeting5 and meet as Worktn8 Group5~ coverin8 pastoral. governance and financial issues between meetings to tske forward the strate8ic plans ol the Trustees. Resldents Ro8ers' Almshouses is both a ch3rity and an organisat)n Irsted on the National Register of social Housin8. It provide5 fifteen units ol accommodation. thirt?en two 5torty houses and two bungalow5. for people over sixty years ol age who live within the Metropolitan District of Bradford or Harrog31e District a5 dehned prior to l April 2023. When making decisions about the apposnlment5 to a vatancy. the Trustees seek to maintain a balance between residents who tame o¥i8inally from Bradford and residents from HarTO8ate. To this end. Separate lists ol applicants are drawn up. Trustees have trted to ensure that vacancies art allocated to the applicant most in need of the accommodation at the time that they occur. A number ol Social events were organised for Trustees and resident5 helping to foster a feelin8 of community. The Trustees rake an actlve interest in the wellbein8 of the residents. Whilsi no specific medical 5UPPOrt Dr orher cale is piovided by the charity, Ihe Trustees prowlde pastofal support Includin8 undertakin8 re8ular visits to residents..
Rogers. Almshouses Report of the Trustees For the year ended 31 December 2024 Propertv The gardens have been maintained ihrou8houl the year and continue to give much pleasure to residents as well as piovidin8 a haven for butterflie5 and seeds for birds well inio the winter months. Property repairs are instlRatefl in a ttmely fashion. Two properties were exlenslvelyrefurbhed and two properties were comrAetety redecoraied followed by newcarpets. Some external retlecorations were completed. others remained to be completed in 2025. No formal or substantNe complaints were received during the accountbng period. Trustee5 The Trustees in office during the year are listed on page l. The maximum number olTrustees permitted under the scheme of arrangement 1$ 12. Of these thfee are Em-officio and seven are Co-opted. The current number of Trv5tee5 is twelve. an intrease ot one since 2023. Havin8 a8¥eed changes to the fules ol the Charity th the Charity Commissioners. the Trustees are now focuslng on developing the Charity. A strategic planning day held in 2023 provided a clear focus for on8oing development. The outcomes of that day continue io be implemented. The charity is a member ol the Almshouses Coftsortium Limite(l. a not for profit organisation. Three trustees are directors of that company which assists w4th the adminislratiort of development grant5 provided by Homes England. New trustees and the Stheme Manager attended Tr Almshouse5 Wa( training ctsurse. provided by the Almshouse Association. Char8e5 The Trustees Sel a weekly maintenance charge at a level which is expected to meet the day to day running Costs of the Almshouses and 8rounds. including the c05t ol cyclical maintenante and major repairs expenditure. A5 3 regulated provider of social housing the Charity is also requi¥ed to operate within the guidance on rent setting provided by the Ministry of Hou5in8. Communities and Local Government, which limits the maximuffl amtsunt to be charged and the annual increases in fent. The weekly mainienance charge was increased in line with allowable charges. Flxed a$5ets The changes in fixed assets during the year are set out in note 11 of the finantial staiements. Polltlcal and charltable donatlon5 Durin8 ihe year the Charsty ma¢Je no wliiitèl or chariièble donatns. Forrnat of accounts Roger5. Almshouses Is a re8istered provider of social housing as well as a registered almshouse charity. Havin8 reached a decision on the future strategic direction as an independeftt charity. the Trustee5 have determsned that il is appropTlète for the account5 to be prepared under the Charities Statement of Recommended Practice IFRS 1021.
Rogers. Almshouses Report of the Trustees For the year ended 31 December 2024 Value for monev The Charitvs definition of value for rnoney is 5ifflple. it aims to deliver its objertivÈs in the most cost-effective way possible by ensLtring thèt st provides quality homes and ser¥ices that help its residents remain independent. The sile of the Charity. at only 15 units, makes comparison against others difficvlt, especialty as the Regulator d¢)es not capture or publish any infofmaiion on associations with less than l.CIXS propertie5. Very few associations ihe size of the Chafity subscribe to benchmarkin8 clubs as the costs oUN¥sh the benefits 3ntl a not therefore considered value for monev. The Charity prides itself on meeting the needs of its residents wherever possible. Thi5 includes Installin8 disabled adaptaiions even where no external fundin8 is available. This increases the repairs costs but reflects the pvrpose of the Charity which is to provide accommodation lo older persons ol limited Means. By adopting this approach residents are able to continue to live independenity and low levels of voids occur. All the properties owned by the Charity are in one location within close walkin8 distance of Harrogate town centre and oiher amenities. They are well maintained and are easy to let. The Trustees have not identified any individu31 property which 15 not adding to the surplus bein8 8eneraied. The nature of the almshouses is such that the disposal of an individual property would not be worthwhble and would potentialty impart Sbgnlflcant on the environment created by the scheme. We are required to calculate and report certain finantial metrics for Rogers. Almshouses which are widely regarded as measures of value for money. In addition. we are required to show how those metrics compare with our own targets and with an appropriate iomparator. Set out below is a table which records those metric5 calculated using Rogers Almshouses. results lor each of the lasl three financial years. The table also shows targets for those metrics calculated usin8 the Ro8ers Almshouses, budgets for the 2025 and 2024 calendar years. Published data to Use a5 a cornparator is difficult to find,. the only published data available is for re8tstered providers with between I,(KQ and 2,5(K) residential Units as reported in the annex to the Regulator ol Social Housing's Global Accounts. We have onty 15 residential units and thefefore comparison with that published data is indicative only and the results are considered by the Trustees as infomative bui not directional. Value for money14FWI metrlts Actual 2024 Artual Artual 2023 2022 T•r8et 2025 Target 2024 Sector Sertor Median Average Reinvestment i New supply delivered Isocial housin New supply delivered i (Non social housin units Gearing I EBITDA MRI Interest Cover Headline social housin cost Operating Mar8sn Isocial housing letti Operatin Mar Return on ca ital em 28.5% 14.2% 1.1% 12.6% 7.7% 1.4% 7.7% units No debt No debt £6,301 119.31% No debt No debt £4.579 No debt No debt £3.255 27.3% No debt No debt £6.017 1.8% No debt No debt £6.792 129.61% 45.6% 122% £5,136 20.4% 48.1% 89% £5,759 er unit s ontvl 119.31% 11.61% 3.2% 0.3% 27.3% 2.6% 1.8% 0.2% 129.61% 12.71% 18.5% 2.8% 16.9% 2.5% loyed IROCEI The Sector Medtan benchmafk data is taken from the annex to the 2023 fte8ulator of Sotial Housing Global Accounts.
Rogers, Almshouses Report of ihe Trustees For the year ended 31 December 2024 Valuè for money Icontlnuedl The above table records the significant sums resnvested by the tru5tee5 in a programme of development of residence5 a5 they become va¢ant. This development work has increased in 2024 with the Trustees spending in excess of £200,CX)O in modernising and improvin8 re51dences prior to their being offered to new residents. The reinvestment made amounts lo 28.5% of the nei book value of the property held by the charity. The value ol the existing properties is, the Truslees believe. considerably in excess ol the cost valve reported in the Charit¥ls balance sheet. It rernains the trusiees. intention to continue thi5 devdopment work and to lund the cre31ion of additional residences as the opportunities to do $0 arise. The Bearing and operational metrics cleafly show that Rogers. Almshouses is a small entity with some unique characteristlcs within the social housin8 sertor. The charsty has no borrowin8s and therelore pays no interest charges, neither 15 It required to meet any finantial tovenants whid) mi8ht otherwise encumber the Trustee's financial Ireedom. Further. no Twstee receives any remuneration for the work which they undertake on beh•lf of the Charity. A5 a T1t of these financial charaderistics. the Truslees are able io keep the Charitys operating cost5 to a minimum despite the fact that its small size relattve to its comparators denies it many opportunitie5 lor economies ol scale. The small size of the Charity doe5, however. enable the Trustees to enjoy a closef connection with the residents and a better understanding of their concerns and needs. The Trustee5 have chosen to prioritise ihe quality of the èccommodation offered to the residents which has driven an increase in rtIne maintenance c05t5 lor those residences not the subjed of development and thi5 has driven the headline social housin8 Cost per unit above the sector average. We are targetTrng a reduciion in these costs bn 2025 as the development and maintenance work returns to a lower level. The negative opefating margin and returrs on capital em0ve reported in 2024 are the result of positive decisions the Trustees have taken io improve the quality ol the accommodation ihey provide, as described above. In 2024 the margin and ROCE were materially impacted by void periods suffered while substantial up8r3de work was undertaken in those unit5 and the accelerated depreciation costs taken foT assets disposed of as part of the development work: the financial impact ol this work was anticipated in the targets set for 2024. The above table shows that the trustees expect the charity to return to a small positive operatin8 rnar'n in 202S a5 the developed residences are now fullv occupied. The financial targets for the 2025 calendar year are drawn from the budaet approved by the Trustees fo¥ that year. Reser4es Any surplvs of incoffle over expenditure is added to erves. The results for the year are set out in the finantial statements on pages 12 to 22. Otsring the year the Charity reported net income 01 £97.66412023.. £64.SOSI which Includes 3 £14,145 increase12023.. £7,5121 in the valLFe of investments. As a result, total reserve5 grew to £l.(180,376. The Trustees have determined that sufficient reserves should be retained by ihe charity in order to fund a minimum of six months expenditure. Budgeied expenditure lor the year to 31 December 2025 is E89.359. consequently the Twslees are 53tisfied thar the retained reserves of £1.080.376 comlortabty exceed the minimum balance of £44.680. £350,835 are re8arded a5 free reserves. after allowing for lunds invested in tangible fixed a55ets.
Rogers, Almshouses Report of the Trustees For the year ended 31 December 2024 Investments The TrLt5tee5 set asidelunds in order to finance future planned expenditure and to prowde a contingency against future tsnforeseen expenditure. These funds set aside are converted into lower risk investments which are capable of re¢overy as liquid fvnds wthin a maximum of two weeks and provide the best possible return for the low risk assumed. To the extent thèt funds are hdd by the charity in excess of these requirements. the Trustees seek to invest those funds in order lo further the airn5 of the charity. lollowing the spirit of the original aims of Mr Geor8e Ro8ers. The performance ol those investments is rleWed by the Truslees on a quartedy basis. Malntenan¢e A property survey was caffied out at the end of 2017. The survey did not identify any major work that was requifed to be undertaken. Since then. a total of 6 properties have been fully refurbished and three more ssmply improved. The Trustees will continue to monitor the condition of the propertie5 and deal with repairs and replacements 35 necessary. The Trustee5 intend to eThsure that the Almshouses continue to meet the needs of residents by maintaining them to a high standard and. where possible. adapiing them to sufrt the needs Ot individual residents a5 their circum5tance5 change. The Trustees are confident that the A1rn5houses will contirbue to PTowide comfortable homes for the residents for the foieseeable fuluie and they are Satisfied that the level of reserves is adequate to meet the on80in8 maintenance siattment olthe Trustees. responslbilities in resped ol the financlal staiements The Trustees ère responsible for preparing the Trustees. Annual Report and the linancial statements in accordance with applicable law and United Kin8dom Acrounting Standards (United Kingdom Generally Accepted Accouniing Pratticel. The law applicable to charities in England and Wales requires the Trvstees to prepare financial Statements for each financial year which give a true and fair view of the 5t3te of affairs ol the Charity and of the incoming resource5 and application of resources of the Charity for ihai period. In preparingthese financial statements, the Trustees are required to= l. Select svitsble actounting policies and then apply them consistently.. ObseNe the method5 and Pfinciples in the Statement of RecThnmended Prartice applicable to Charities preparin8 thesr accounts in accordance with Finantial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021: Moke judgements and estimates that are reasonable and pwdent.. Prepare the financial statements on the going concem basis unle$5 It is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping proper acctsunting records that are sufficient to show and explain the Charitvs transactions and disclose with reasonable actUfa(y ai any time ihe financi31 p051tion of the Charity and enable them to ensure that the financial statements comply with the Charitie5 Act 2011. the Housing and Regeneration Act 2008 and the Accountin8 Direction for Pnvate Reystered Providers ot Sotial Htsusin8 2020. They are also responsible Ictr safeguardin8 the assets of ihe Ch3riry and hence for t3kin8 re350nable Steps for the prevention and detection of fiaud and other Irregul3Tlties.
Rogers, Almshouses Report of the Trustees For the year ended 31 December 2024 Statement ot the Trustees. re4nSIbIlItIeS In resptct of the fin•ndal statements Icondnued) The Trustees are responsible lor the maintenance and integrity of the financial inlormation included on the Charity's website. Le8islation in the UFtited Kingdom governing the preparation and dissemination of financial statement5 may dilfer from legislation in otherjurisdictions. l*sclosurÈ of Inforniatlon to Audrtors The Trustee5 who held office at the date of approval of this Report confirm thèt, so tar as they are each awafe. there is no relevant audit inlormation of which the Chariws auditors are unaware." and each Truslee ha5 taken all the steps that they ought to have taken as a Trustee to make themselves aware of any relevant audit information and to establish that the ChariiV5 audit0¥5 are aware of that information. Statemeffl on the Charws vistem of Intemal ¢ontrol The Trustees acknowled8e their overall responsI.11ty. for establishin8 and rnaintaining the whole system of internal control and for reviewin8 annually its effectiveness. The Trustees Teco8nise that no system of internal Control can provide 3b501ute assurance or eliminate all risk The system of internal control is designed to manage risk. and to provide reasonable assurance that the key business objettives and experted outcomes will be achieved. It also exists to give reasonable assurance about the preparation and reliability of financial and operational inforn)aiion and the safeguarding of the Charity'5 assets and interests. In meeting its responsibilities. the Trusiees have adopied a risk-based approach to internal controls. which are embedded within the nM31 managemeni and governance protess. This approach includes the regular evaluation of the nature and extent of risks to which the Charity is exposed and is consistent with principle5 incorporated in guidan¢e. The process adopted by the Tiustees in feviewing the effectiveness 01 the system of intemal control, tO8ether with some of the key elements of the control framework includes.. Identlfi¢atlon •nd e¥alu•tlon ot key rtsks Respon5ibslity ha5 been clearly defined for the identification. evaluation and control of Significant risks. There is an on6oing process of review by the Trustees in each area of the Charitys acty¥itTres. The results continue to be reviewed by the Trustees on a regular b3SiS. MonltgrlnK and torredfve adlon The Trustees are responsible for en5urin8 the process of control throy8h 5elf-asse55ment is effective ènd that reporting on control Issues prowdes assurance to the Trustee5. This includes a procedure for ensurin8 that effective monitorin8 IS in place and that correctNe action is taken in relation to any significant control issues. particularly those wlth a material impact on ihe financial statements. Control •milronment and control procedures The Trustees retain respon5ibblity for a defined Te of issues covering strale8ic. operatbal. ftnancial, and compliance issues includin8 treasury strategy and new investmeni piojetts. Policies and procedures covef such issues as delegated authority, se8re8ation of dutjes, accountirb& treasury mana8ement, health and safety. data and asset protertion and fTavd prevention and detection. Infomiatlon and financial rePXti Systems Financ¢èl reporting procedures include detsiled budgets for the year ahead. These are rewewed and approved by the Trusiees. The Trustees also review key performance indicaiors regularly to assess progress towards the achievement of key business objectives. targets and ouicomes.
Rogers. Almshouses Report of the Trustees For the year ended 31 Decernber 2024 AudOr$ A resolution to re-appoint Lithgow Perkins LLP as theCharitV5 auditOTS. will be proposed atthe Annual General Meeting. Go¥ernan¢e The Trustees have adopted the Charity Commissicffi'5 Good Goveman¢e Code and abide by its Pfinclples. The Tru5tee5 confirm that the Charity complies wth the Regulator of Social Housin5 Govemance anLI Financial Viability Standard. A governance sub-group has comptled and monitor5 a risk register. Management Day to day responsibility for management of the mshou5es and implementation of poliry sel by the Trustees 15 undertaken with the assistance of Liihgow Perkins LLP. Chartered Accountants, who provide accounting support and ensure payments are made in a time tsshion to SUPieY5. A part lime Scheme Manager also provides support to the Trustees. As Chairrnan of the Trustee5. 1 would like to record my appreciation ol the support and hard work ol my fellowTrvstees, our Scheme Manager and accountant in en5uringthat ihe Charity moves foTh¥ard in a way of which I believe our lounder would be proud. l also record appreciation of the Trustees for the help and support 8iven by Saffer Cooper who provide valuable assistance in helping the Trustees to understand legi513tive requirements. Approved by the Trustees on 2 May 2025 Mr S C Hollan Chalrperson
Independent Auditorfs Report to the membets ol Roger< Almshouses We have audited the financial statement5 of Roge. Almshou5e5 -the Ch¥1 for the year ended 31 December 2024 which comprise the StatLYnent of Financial ArtNr(ies. the Balance Sheei, the Cash Flow Statement and the related noies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountin8 Standards. including FRS 102 The Financial Reportin8Standard applicable in the UK and Aepublic of Ireland. (United Kingdom Generally Accepted Accountin8 Praditel. We have been appointed as auditor under 5ertion 144 of the Charities Act 2011 and report in accordance with the Act and relevant fe8ulations made or having effert thereunder. In QLbr opinion. the financial statements.. give a true and fair view of the state of the chariivs affairs as at 31 December 2024 and of its incoming resources and application of resources, includin8 its income and expenditure for the year then ended,. have been property prepared in attofdance wilh Uniied Kingdom Generalty Accepted Accounting Practlce and have been prepared in ètcordance with the requirements of Charities Act 2011, the Housing and Re8eneration Act 2LXJ8 and the Accountyng Dirertion for Private Registered proVe1$ of Social Housin8 2019. Bas15 for oplnlon We conducted our audlt in aCCdance wrth Intemaiionèl Standards on audtting IUKI IISAS IUKII and applicable law. Our responsibilities under those Standards are further described in the Auditorfs responsibilities lor the audit of the financial statemenls 5ertion of our report. We are independent ol the Association in accordance with the ethical requirements that are relevant to our audit of the financial staternents in the UK, including the FRCS Eth¢cal Standard and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We believe that the audit evidence we have obtained ss 5ufficiert and appropriate io provide a basis fof our opinion. CoD¢luslons relatln8 to 8olng con¢ern We have nothing to report io you in respect of the following matters in relation to which the ISA5 IUKI require us to report to you where- the tru5tees' use ol the going concern basis of accounting in the weparation of the financial statement is not appropriate; or the trustees have not disclosed in ihe financi31 statemenis any identified material uncertainties that may cast $18nificant doubt about the charl$ ability to continue to adopt the 80ing concern basis ol accounting for a period of at least twelve months from the dale when the financial statements are authorised for issue. other Infomlatlon The other information comprises the information included in the Report ol the Trustees. other than the financial statements and our auditorf5 report thefeon. The Irustees are iesponsible for the other information. Our opinion on the financial statemen15 does not cover the other infomation and. except to the extent otherwise explicitly staled in our report. we do not express any form of assurance conclusion thereon.
Indendent Audltorfs Report to the members of Rogers. Almshouses Matters on whlch we are requlred to report by exception We have nothing to report in respect ol the following matters in relation to which the Charitie5 (Attounts and Reports) Regulations 2CI18 requires us to report to you if. in our opinion". the informatiort given in ihe financial statements is inconsistent in any material respert with the tru5tee5' report- or the charity has noi kepi proper accountin8 record5- or the financial statements are not in agreement wrth the accounting records- or we have not received all the infom)ation and explanation5 we require for our audit. ResponsilNlities of tru51ees As explained more f¢Jlly in the Statement of Trustees. Re5ponstbilities set out on pages 7 and 8, the trustees are responsible for the preparation of the finantial statements and lor bein8 satisfied that they gtve a true and fair view, and for such internal contfol as the trustees deterrnine is necessary lo enable the preparation of financial st3ternents that are free from rnaterval misstatement. whether due to fraud or error. In preparing the finantial statements. the trustees are responsible for assessing the charlws ability io contlnue as a going concern. disclosin& 35 appl¥cable, matiers related to gging concern and using the golng concern basss of accounting unless the trustees either intend to liqvidate the charity or to cease operations, or have no realistic alternative but to do so. Audbtorfs responslbllltles for the audlt of the financial statements 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 error. and to Issue an audilorfs report that include5 our opinior>. Reasonable assurance is a high level of assurance. bui is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misslatemeni when il exsts. Misstaiements can arise from fraud or error and are considered material if, individualty or in the aggregate. thrycould reasona1Y be expected to influence the economic decisions of users taken on the basi5 01 ihe5e financial siatements. Alurther description of responsibililies for the audit of the financial statements is bocated on the Financial Reportin8 Countil's website at- www.frc.or8.uklauditorsresponsibilities. This tlescription forrns part of our auditorfs report. Th exttnt to whlth the audlt was ¢on4dered ble of dttecikni irro8ularliles Includin$ fraud We identify and as5SS the risks of material missiatement of the financ¢al siatements, whether due to fraud or error. and then desi8n and perform audit procedure5 responsive to those risks. including obtainin8 audit evidence that is sufficient and appropriate io provide a basis for our opinion. In identifyin8 and addressing risks of material misstatement in respert of irregulaflties, includin8 fraud and non- compliance wth laws and regulations. our procedures included the followin8'. We obtained an under5tandin8 of laws. regulations and guidance that affect the charity, focusin8 on those that had a direct effect on the financial statements or that had a fundament31 eflett on its operations. Key laws, regulations and Ruidance that we id@ntified Intluded the Statèmènt of Rectsmmettded Practice lor re8iSte¢ed housing prtsvid¢rs.' Housing SORP 2018. the Housing and Regeneration Act 2008. tsx legislalion and safety le8islation. We enquired of the tru5tee5' and reviewed correspondence and board meeting minutes for evidence of non- compliance with ¥elevani laws and re8u13tions. We also reviewed controls the trustees have in place, where nece553ry. to ensure compliance. io
Independent Auditorf5 Report to the rnernbe of Rozer< Almshouses We gained an understanding of the contro15 that the trustees have in place to prevent and deteci fraud. We enquired of the irusiees about any incidenS of traud that had taken place during the a¢coyntin8 period. The risk of fraud and non-compliance with laws and regulatbons was discussed within the audit team and tests were planned and perforrne<l to address these risks. We reviewed financial statemenlS disclosures and supporting documentation to assess Compliance with relevant laws and regulations discussed alx)ve. We enquired of the trusiees about acrual and potential litigation and claim5. We performed analytical procedures to identify any unusual or unexpected relationship5 that rnight indicate risks of material misstatement due to fraud. In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entrie5 and assessed whether ihe jud8ements made in making accounting estimates were indicative of 3 poteniial bias. There are inherent lirnitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely it is that we would become awaie of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Board and other rnanagement and the inspeuion of re8ulatory and legal correspondence, if anv. Maierial misstatements that arise due to frauij can be harder to detect than those that arise from error as they rnav involve deliberate concealment or collu510n. Use of our report This report is made solely to the charitVs trustees, in accordance wilh Part 4 of the Charitie5 (Accounts and Reports) Regulation5 2008. Our audit work has been undertaken so thal we might state io the chariVs trustee5 those matters we are required to state to it in an auditorfs report and for no other purposes. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the chafity's trustees as a body, for our audit work. for this report, or for the opinions we have formed. Robert Horner B CA (Senlor Statutory Auditor) For and on behalf of Lithgow Perkins LLP Date-. 2 June 2025 Chartered Attountants Statutory Audltors Crown Charnber5 Princes Street HARROGATE HGI INJ li
Rogers. Almshouses Statement of Financial Artfvltles For the yeaf ended 31 December 2024 Unrestrlcted Desl8nated Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Notes Income from- Donations and legacits Charstable acti*ities- social housing Investments 85.OLKI 85,CXX) 92,3C 16,288 37.LXIO 85,439 17.301 92,3C(I 16,288 Total Incom• 108.588 85.0 193.588 139,740 E¥pendlture on.. Charitable activitlèS- Social housing Total e¥pendltyre 1110,C691 1110.C691 1110.0691 1110,0691 182.7471 182,7471 Net 8ains/llossesl on invesiments 12 14.145 14,145 7.512 Net lexpendlturelllncome and net mo¥ement In fvnds 12.664 85,LlJJ 97.664 64,50S Reconciliation of funds- Total funds brou8ht forward Total funds carried forward 642.757 655.421 339.955 424.955 982.712 1.080.376 918,207 982.712 All of the above results derive frorn the continuing operati$ ol the Chartty. The notes on pa8e5 15 to 22 form an integral part of these financi31 statements. The financlal ststements on pages 12 to 22 were appro¥ed and Juthorlsed for Issue ty the Board of Trustees on 20 May 2025 and were $ied on Its behalf by: Trustee Mr S Hollao Trustee The Very Reverend A eowerman 12
Rogers, Almshouses Balance Sheet At 31 December 2024 2024 2023 Notes Rxed ats Tangible fixed assets Investments li 12 729.541 338,581 1.(68.122 536,817 376,331 913.148 Current assets Debtors Cash and cash equivalents 13 14 14.188 36.119 50,307 13,128 65.143 78.271 Less: Credltor5'. amounts falling due within one year 15 138.0531 18.7071 Net current aSsetslabl11ties 12.254 69,564 Total assets less turrent liabilities 1,080.376 982.712 Total net assets I.0.376 982.712 Funds of the charlty Vnrestricled fvnds-. Lsnrestricted 8eneral fund Social Housing Grant fund 16 16 655,421 424,95S 642,757 339,955 Total charlty funds 1.080.376 982,712 The notes on pages 15 10 22 form an iniegral part of these financial staiements. The finandal statements on pates 12 10 22 were apprOd and authorlsed for Issue by the Board of Tntrtees 20 May 2025 and were signed on fts behalf by: Trustee Mr S Holl• Trustee The Very Reverend A Bowemia 13
Rogers, Almshouses Statement ol Cash FI¢Ns For the year ended 31 December 2024 2024 2023 Net cash generated from optratlng actlvltles 15ee Note I below) 111,071 48.763 Cash flow from In¥estln8 actl¥ltles Purchase ol tangible fixed assets PLFrchase of investments Sale of investments Interest and similar income received 1208.2781 114.0121 65.907 16.288 176,IX)41 113.0231 17.301 1140,0951 171,7261 Net chan8e In cash and cash egufvalents Cash and cash equlvalènts at beginnong ol th* year 129.0241 65.143 122,9631 88,106 Cash and (ash equlvalents at end of the year 36.119 65.143 Note I Net intomellexpendituièl for the year 97.664 64.505 Adjustments for non-cash items.. Depreciation of tangible fixed assets Oecrease/lincreasel in trade and other debtors IDecreasellincrease in trade and other creditors Loss116ainl on revaluation of fixed asset investments 15,554 11.0601 29.346 114.1451 14.068 17,5581 2.561 17,5121 Adjustments lor inve5tinB or financin8 activitie5'. Interest and similar income received 116.2881 117,3011 Net cash generated from operatin8 ?rtivities 111.071 48.763 The notes on pa8e$ IS to 22 form èn inte8ral part gf these financial statements. 14
Rogers, Almshouses Notes to the Financial Staternents For the year ended 31 December 2024 Genèral Infomiatlon The Charity Is an unintorporated Charrty registered In Éngland and Wales. a member ol the National Almshouse Association and is re8iStered with the Regijlator of Social Mousin8 as a Private Registered Provider of Social Housin8. The registered office is Crown Chambers. PTince$ Street, Harrogate. HGI IW. Prlnclpal accountlng polldes 8asls of accounlin8 The ffinancial staternent5 have been prepared in accoidante with applicable United Kin8dom Generally Accepted Accountin8 Practice (UK GAAPI and Accountin8 and Reporting by Charitie5'. Statement of Recommended Practice applitable to Charitie5 preparin8 their accounts in accordance with the f inancial Reporting Standard applicable in the UK and Republic ol Irdand IFRS 1021 lelfective l January 20191 ICharitie5 SORP IFRS 10211second edition- October 201911. the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021, the Charities Act 2011 and the Accguntin8 Direction for Private Aegistered Providers ol Social Housing 2019. The accounts are prepared tsn the historical cost basis of accountiryd except as modified by the revaluation of investmerbts and are presented in pound5 Sterlin8. The financial staternents have been prepared in compliance with FPS 102. In complying with FR5 102 the Charity meets the definttion of a pijblic benefit entity. Goln8 Concern The financial statements have been prepared LM a goin8 concem basis which assume5 an abtlity to continue opating for the foreseeable future. The Trtsstees have concluded that they are confideni ihat the Charitv will conttnue as a goin8 concern based on the cash flow forecast5 and significant value ol free reserves held by the Charity- The Trustees are of the opinion that the Chanty will have sufficient resources to meet its liabilitie5 as they fall due. jUdMents and key sources of estlrnatlon uncertainty The preparalion of the financial statements requires management to make judgements. estimates and assumptions that allect the amounts reported lor assets and liabilities as at the balance sheet date and the amount5 reported f revenues and expenses during ihe year. However, the nature ol estimation means that actual outcomes could differ from those estiFn3tes. The lollowin8 jud8ements (apart from those involvin8 estimates) have had the most significant effect on amounts reco8nised in the financial statements. Cate8orisation of housing propertie5 The Charity has undertaken a detailed rewew ol the intended use of all housing properties. In detefminin8 the intended use. the Charity has considered if the asset 15 held for social benefit or lo earn commercial rentals. Imp6irrnent The Charity has identffied a cash generating unit lor impairment assessment purposes at a property scheme level. 15
Rogers, Almshouses Notes to the Flnanclal Statements For the year ended 310ecember 2024 Prln¢lpal a¢¢ountin8 poll¢i•s Icontlnued} Other kty sources of estimation and assumptions= Tangible fixed a55ets Tan8ible fixed as5et5 are depreciated overtheir usefvl livestaking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary dependin8 on a number of factors. In re-assessing asset lives, factor5 such as technologlcal innovation. product life (ydes and maintenance programme5 are taken into account. Residual value ssessments consider is5ue5 such as future markei conditions. Ihe remainin8 lile of the asset and projerted disposal values. Impairment of non-financial assets Aevsews fof tmpairrnent of housing properties are carried out when a tri88er has occurred and any impairment loss in a cash 8eneratin8 unit is reco8nised by a char8e to the Statement of Financial Activities. Impairment is reco8ni5ed where the tarrying value of a cash genefatin8 Unlt exceeds rhe higher of its net realisable value or its value in use. A cash generatin8 unit is normally a group of properties at scheme level whose cash income can be separately identified. The Charity has assessed that no trigger for an impairment review has octulred. In¢ome re¢o8nltlon Intome from social housin8 attivities represents weekly MaIntenae char8e receivable. includin8 water rate5 and othef income and is reco8nised in relakn.on to the period when the goods oi services have been supplied. Weekl¥ maintenance Charge income Trs rec(8ni5ed when the property is available for occupation, net of voids. Distributions and interest on investments are induded on the accnJals basis by reference to the dve date of payment. Serylce ¢harges Service char8e income and costs are reco8nised on an accruals basis. Ta¥atlon The Charity is a iegi5tered Charity and is, therefore. exempt frryn any liability to taxation on its income and capital gatns. The Charity 15 not registered for VAT and therefore expenditure is stated inclusive of VAT. Tan84ble flxed assets and dwe¢lation Tèn8tble fixed assets are stated at cost. le55 attumulated depreciation. Freehold land is not depreciated. Housin8 properties Where a hou5in8 property comprises Thvo or mole major components substantially different useful economic lives IuEL51. each component is atcounied for sepafaidy and deprecbated over lis indlvidual LIEL. Expenditure relating to subsequent replacement or reftewal of tornponents is capltalised as incurred. 16
Rogers, Almshouses Notes to the Flnancial Statements For the year ended 310ecember 2024 Prlnclpal accountin8 polkie5 Icontinuedl The Charity depreciotes freehold housing propertie5 by cornpgnent on a stfaight-line basis aver the estimated UELS of the component cate8ories. UELS for identlfied components are as follows= Strurture Roots WiTrdow5 and doors Kitchens Bathrooms Boilefs Electrical and heating installations 80 years 70 years 30 years 20 years 25 years 15 years 25 years Other tangible fixed assets DepreciatTron is charged on other tsngible fixed assets on a straight-line basls over ihe experted economi Useful Itves which are as follows.. Equipment 5 years Propth mana8ed by alents Where the Charity tarries the firtancial risk on property managed by agents, income arssin8 from the property 15 included In ihe Statement of Financial ActIties. The assets and associated liatMlitie5 are included in the Charitvs Statement of Financial Posltion. Short-terni debtors and credltors Debtors and Iredttors with no stated interest rate and receivable or payable within one ye3r are recorded at transaction price. Any1055e5 aris*ng from impairment are fecognised in the Statement of Financial Activities in other operating expenw. Swal Housing and other Kovernment Krants In accordance vrith the Charities SORP IFRS 1021. grants recved from government have been treated as Income and added to reserves. The fund is hdd in a designated unrestrirted fund reflecting the possibility of a repayment demond from Homes England. In¥estm•nts Inve51ments are initialty recognised ai their transaction value and subsequently measured at their market value as at the balance sheet date using the closin8 market value. Gains and I0e5 on disp05al and revaluation of investments are charged or credited to the Statement of Financial Actiwtie5. Flnanclal Instrurnents The Charity only has finanual a55ets and financial liabilitie5 of a kind that qualrfy as basic financial instruments. Basic financial instruments are initially recognised at iransaction value and subsequently measured at their settlement value. 17
Ro8ers' Almshouses Notes to the Financial Statements For the year ended 31 December 2024 Princlpal accountlng politles Itontlnuedl Impairnient of FlnarKlal Assets Financial assets are assessed ai each reporty'ng date to determine whether there is any obiertNe evsdence that a financial asset or 8royp of financial asset5 is impaired. 11 there is objective evidence of irnpairment. an impairment loss is reco8nTrsed in the statement of finanoal activities immediatety. Donations and14arJes Oesignated Funds 2024 Oeslinated Funds 2023 Grants 85.CiXI 37.(KJO 85.IX*) 37.]0 Inc<Kne from th•rltable actlyttles Unrestrirted Fund5 2024 Unre5trlrted Funds 2023 Weekly maintenance char8e Servile charge iLne plus waier rates Less: Voids 96,524 11,820 16.0441 86.784 10,069 111,4141 Total Incomè from tharltable actlvltles 92.3 85,439 Investment income Unrestrirted Funds 2024 Unre51ricted Funds 2023 Bank interest recVed Income on fixed asset investments 1.372 14.916 2,791 14,510 16,288 17,301 Expenditur• on tharrlable artmties Unre5tr4rted Funds 2024 Unrestrbtted Funds 2023 Management costs Servite charge costs Routine maintenance Depreciation Bad debts 47.184 22.721 24.610 15,554 32,498 22.9S4 12.420 14.068 807 Total expendlture on tharltable acti¥lties 110.069 82.747 18
Roger5, Almshouses Notes to the Financlal Statements For the year ended 31 December 2024 Net Income tor the year 2024 2023 Net Income for the year is ed after IryInr. Auditorfs remuneration lexclvding VAT).. In their capacity as auditors In respect of other 5ervice5 Oepreciation of houssng properties Depreciation of fixtures and fittings Accelerated depreciation 2.7Tr) 633 13.904 164 942 15,554 Accommodation managed by othe Number of propertles Number of PrOrtIeS General Housing 15 15 Taxatl Rogers, Almshouses is a registered Charity and is. therefore. exempt from any liabiSity totaxation on its income and capital 8ain5. 10. Employees and Manalement Personn The Charity has no employees12023- none). Key management personnel are defined ès the Trustees. No Trustees recewed any remuneration in the year12023- £Nill. During the financial yeaf £Nil12023- £Nill payments were made toTru5tees. 19
Rogers, Almshouses Notes to the Flnanclal statements For the year ended 31 December 2024 11. Tanilble flxed assets Social Mousln Propertles tor Flxture5 & FlttinKS Completed Totsl Cost At l January 2024 Additions Oispos315 At 31 December 2024 707.801 208,278 4.641 712.442 208,278 916.079 4.641 920,720 Depfeciatlon At l January 2024 Charge for the year Eliminated on dtsposals At 31 December 2024 170.984 IS,S54 4.641 175,625 IS.5S4 186.538 4.641 191.179 Net book value At 31 December 2024 729,541 729,541 At 31 Detember 2023 536,817 536,817 Housln8 prortIes comprls*. Fieeholds Long leasehold 729,541 729.541 12. FFxed asset Imie5trnents Llsted Investments val•jaan Totsl At l January 2024 Additions Disposals Unrealised Ilossllgain in year 376,331 14.012 165.9071 14.145 376,331 14,012 165,9071 14,145 At 31 December 2024 338,581 338.581 The investments a hdd with M&G Investments. The historic cost of these investments at 31 December 2024 was £233.37712023- £264.7441. Inve5tment5 are shown at market valve at the balance Sheet date. The market valuels deterrnineo by referencE to the quoted prite for identical assets in an active market_ 2024 2023 The investments comprise.. Listed NAACIF shares 338,581 376.331 20
Rogers, Almshouses Notes to the Financial SLitements For the year ended 31 Deternber 2024 13. 2024 2023 Amounts falllni due wbthln oney•ar. Weekly maintenance charge in arrears t5&= Provislon lor bad debts Prepayments and acuued income Dther debtors 14,188 13.128 14,188 13.128 14. C¥sh and cash equivalents 2024 2023 Cash at bank 36.119 65.143 15. Credltors: amounts lallln8 due wrthin one year 2024 2023 Trade creditors Accruals and deferred intome 38.OS3 8,707 38.053 8,707 Included in acuuals and deferred income 01 £34.10812023". £8,707) is delerred income of.. 2024 2023 Deferred income brou8ht forward Income released in the yeaf Amounts delerred in ihe year Deferre(l income carried forward 21
Rogers, Almshouses Notes to the Flnancial Statements For the year ended 31 December 2024 16. Anatysis of charitable funds Atl January 2024 Intome EXP1¢ GainsllLossesl on In¥estments At31 December 2024 Unrestricted general fund Social Housing Grant fund 642.757 339.955 108.588 85,C 1110,0691 14.145 655,421 424,955 982.712 193.588 1110.0691 14.145 1,080,376 Unrestrlrted general lund The unrestrirted general fund represents the cumulative net incorne and eypenditure net of other adjustments. So¢lal Housln8 Gr•nt fund In accordance with the Charities 50AP (FR5 1021. 8rants received Irorn government have been treated as income and added to reserves. Thelund is hehl in a designated uThstre fund refbectin8theposwbil ofa repayment demand from Homes En8land. 17. Analysls of net assets between funds fvnds Tan8ible fixed assets Invesiments Current assets Current and non-current liabilities 729,541 338,581 SO,307 138,0531 1,080.376 18. Capltsl ¢offlmltrnents At the balance Sheet date there were capitsl commitments ol ENil12023- £Nill. 19. ContIent Ilabllltles At the balance sheei date there were no contingent liabilities12023- £Nill. 20. Related party transartions Theie have been no tran5aciions with related pa'e$ durin8 the yeèr12023- £N*ll. 21. An•W of ch•n8es In net debt Ati January 2024 Other non-cash changes At31 Dernber 2024 Cash fi$ Cash at bank 65.143 129.0241 36,119 22