THE ELVETHAM CHARITIES
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
REGISTERED CHARITY NUMBER 236543
FROST & WILLAN CHARTTIRED ACCOUPITANTS

THE ELVETHAM CHARITIES
INDEX
Year Ended 31 March 2025
Page
Annual Rèport
llldependenl examlneffs report
Receipts payfflents accounts..
Incom& account Icallhorpe Hous8sI
Cycllcal M8int&nance Fund
E￿Iaordinary Ropair Fund
Statement of assets and liabilities
Notes lo th8 financi81 statements

THE ELVETHAM CHARITIES
ANNUAL REPORT
Year Endod 31 March 2025
Reference anos administratlon infortnation
Regl$lereEI ¢harlly number
236543
Trusteas
Slr Euan A-G-Calthorpg. Bl.
T Soulh8m Esq
R B Peregrine Esq
Mis C B3yIis
Rev'd A Smllh
Lady J Day
relired 1010912024
awolnted 1010912024
Principal off
The Elv&tham E8tate Office
Hartley Winlney
HaFnpshire
RG27 8A
Secretary
Mrs A Parr
The Elvetham Estat6 Office
HarU&y Wlnlney
Hampshirè
RG27 8AW
retlred 1511012024
8Bnkers
Lloyd5 PIC
174 Fle8t Road
Fle81
Hamp8hir&
GU13 8DD
INlepeNJenl examlner
D C Mellor ACA CTA
Dixon Wilson
22 Chancery Lane
WC2A 1LS
Inv8Stment advlsors
Black Rock Invaslment Man2gement IUKI Limlted
12 Throgmorton Av8nu8
Dr8per5 Gardens
London
EC2N 2DL
Accwntants
Frosl & Willan Accounting Llmlled
The Old Post Offic8
Hlgh Street
Hartley Winlney
Hampshlre
RG27 8NZ

THE ELVETHAM CHARITIES
ANNUAL REPORT
Ygar Ended 31 March 2025
u¢lure Govem&ncs and Man
ement
Th&Truslwas Create￿ byd99d on 21 Maich 1962whlch was atngnd8d bya da8d d>iÈd 8 SÈpltynbèr 1972. Thè attowlÈ
are prepa￿ on 8 rec8lplB and p&ytnenls basis and Ill IhB oharftios Ar12011.
TheTrustea9whD 6eN8d dudng th8￿a[are as shown on Pa￿ 2. ThgTTuslfg Body¢￿[l$S$llv6 EDtnP8tonlp8t%Pn5
Includlng one Ex-offirio Tiwte&who18 IhB RgGtorof Hart*Winlnpy%th Elvelharn.. Nomlnalivg Trusleg nomlnated by
Ihe PÈrlsh CouTrcfl lappDlnled for ateiTn 014 Yaaisl., ihrèè Gtrwl£d fnJ&iebs who 1hro￿h iÈ$ideficè, o¢¢upaknon.
6mplDymBnl or olheNlse h8ve sp8clal olthe Par￿h of HartleyWinln&ywlh Efvethatn. ThgTru&ee6 covective
propDw ayree sultgbla nominallon6 for Ihe Co-opted Nomlnative TIu51es6.
Bsa
d AcllvllE8
Thp DbFd of ll)e Trus118 lo provkl8 8ltnshi)us8sforthose in need in Ihe parf%h. The Tru3lEBS. hawng reuard
Io lh6 publlc bene￿1￿Ul￿anCe publish&d bythe Chatiiycommlsslon in acwrdanc&wilh sgclign 17 of Ihe Chariteskn12011,
COn￿der1h$I the PUEpweAnd gGl1vil￿S of th8 TfU61 Ball8fy the r£quli8m&nlE ol the publiGbenelil leEt 591 out In sedk)Tr 4 of
I1￿ *ambAd.
AchlÈvemttnts nd
mance
DuAnu thÈ yeBrlhe Tru5tsuppllpd accotntnodallon for 10 pBoplB12024- 10 p90￿9) taklng 8 weeklyconliibullon towards
tAsgt of malnlalnlng Ihe homes 8S5enlial seFvirE5 Ihereln. so ihallhe amount of lh9 Y169klysurn shall not cause
hardship to him orhèr_
Th8TIu51 ￿te￿e8 full matkelrenlforlh8 house pr¢WK>￿6lY used tythe foFtner Stthemè Man8ger.
In¢om• A¢¢ount
The Burp1￿ piioi lo appropriallonB. in re5peclof cal*h(￿pe Fkntssos, tog81horvllh bh¥￿MÈnIl￿¢OmP ahd dBwl1
Iniere91 Is deallwilh lTrlhiB aGcouTrl.
C￿lIC￿l Mal￿tenan￿O Fund
Form8nyyearG th9 IIu81eB8 have. bywsyol apprOprI￿li￿n. sèi g$ld$ ¢a$hlO th1$ fund for'oTdln$ry ￿paIrs, lo
swead t￿ Impael Df periodie red￿[all0Th 0￿, 10 avoid flutsiuatl¢n$ in the In¢om8 A¢¢ouTri, In ygsr8nd¢d 31 Marth
2025, the aMountlransl*Kr£d Was £12.29012024- £12,290). AfudhprpaYu￿nI o1£824 was bylh6 InttomeAwounl
in respect ol 18pak8 on b9hall ol Ihg fwd12024-£3.9B81.
ExtrnordlnRry RepalF Fund
Th1$ L8 rn8lnta1ned lorlhe"extraordinary rsp8ir, Impiovem$nior rob￿lIal￿g￿l￿8 aome8 of iormèr maDaoors nous$"
Nol less Ihan È1,8YD peryar Is requlred lo be Iran$ferYed to Ihls Fund ovltsf inwme Idsu¥¢ 26of thfrsthèmeol 1972.
ag $ubgequenllyErnendedl byvKy0lappropr￿Illln. In Ih8yfjarended 31 Llafch 2025. thtsamtsumltiar￿rerrÈd w5s £7.1
12024-£7,1551. AfurMerpahthpTrl DI £6.140wa$ made by thfr Inc(￿ Acwwni In Of on bèhalf olthe
fund12024- £Nill
Hlstorfcally, a greaterpropotion of IhtrTru$f$ Intoma has bè8n Ir8nSf￿rÈd lo C￿11¢31 Malnl&n2ni% Fund on an
annue1 baS￿despIte IhD ExbaordinaryRep8ir Fund ¢onglslenltryin¢urrlng ihe greaier ¢¢sts. Perl¢￿￿311y, thè Cycll¢al
MBlnlgnance FU￿ makeg appmwbUon$ lo &éOress this. £pproprLqllon was mgde durfng the yew12024- £NII

THE ELVETHAM CHARITIES
ANNUAL REPORT
Year Ended 31 March 2025
The Capital Repla¢emenl Fund whlch was mBlntain8d 10 re¢oup the eapllal Inlllallyexpended on the homea ¥nd formerstheme
m£nag8fs housgw4s I￿(￿rpor81ed In IhlB lund during May2002.
£104 peryeBrvAsfequlmd io b& trAnsferred lo th15 Extraordlnary Rspalr Fund out of Incotne for54 S￿at￿tro￿ 1972 Iclaus&23
of the Sch&mg of19721.
A$ a Consequenr￿ of Ihg Tiuslee¥' approprfallons on 3 Oclober 1993. 4nd 13 May 1994, ihe ChartyCotllmiS6V)n 1gvDk*d
ihB dlrÈcUons forrecoupTnBnlln IhB 1972 Schemèof £104 perannuTn lo Ihls Fund. And dlrecied that the Fund should bp
admlnlslèred as partof the p&rmanBnl ondowment(rruBI Fund). lop&lhgrwtth Ihèfow￿rGenerBI Pwpos8 Fund
The Twslwas ueaied in 1962 ￿lfv Ihe Inlgnllon lo proV￿e reduced coslao))mModa￿on ID Ibe poorand dderty.
TheTtus1 alms lo malnlaln the Mmshouses in a fiiand habi18bl& st818.
11 is Ihg TruslÈe8' pollcy iocoverlhe charivs annu81 owhe8d5 and cydical oxpgndilurtsln addllltsn to malnlalnl
resetves lo ltsngerlerm Tepali projeds and P￿ra0rdIn3ryeXpen￿l1￿re as and Its mèlnialn the
propgrtles In a h$blt8ble condibon. The reseP￿S arfjsègregated In the Cyclical Malnlpn?n¢e Fund and the
E￿raordi￿aryRepalrs Fund. A131 MarGh 2D25. Ihe Trual had cash r8s8rves of £77.72212024- £33.9031 In tha Cycll(xl
MAlnlenanEe Fund and cash reseNesof £39.84212024- £17.4361 In lh& ExtraordinaryR&paits Fund.
A131 March 202$. the Trust aLs0 had cash resetygs of £47.30512024- £62,613) hekJ in lh9 ¢urr@nl Attounl
nd £100,QOO12024-£1￿,lKjo> he￿ In Lbpo¥ilA¢¢ount
The TTvsldeeds spetify Ihal sum80f (xsh not nBeded fty lrnmedlaie worklro purpD685 rnaybB investsd In any Inve91menl
as9ets a61h9 trust995 5È6 ￿1.
Forand on behalf of Iho Twsiees
Dal*
SIR EUAN A-G-CALTHORPE. Bt

THE ELVETHAM CHARITIES
INDEPENDENT EXAMINER'S REPORT
Year Ended 31 March 2025
INDEPENDENT EXAMINER'S REPORY YO THE TRUSTEES OF
THE ELVETHAM CHARITIES
I'THE TRUST'I
I ieport lo lh6 Trustees on rny exarnlnalion of the accounts of Truslfor the yeHrended 31 March 2025
which are set out on pages 6 to 11.
Rèsponslbllltl&& and bdsls of report
As chgrity I￿￿ee5 of th8 Trust you are t&sponslbl8 fDr the p￿paral￿n ofthe accoun18 in accordanc8 ￿th
Ih8 r8qulr8m8nLs ofihe Charill8s Act 2011 1'lh8 Act'l. You are Salisfied that 8n 8udll Is not rwulred for Ihi5
year under charlty law and Ihal an independent ex8fflinBtion ￿ needed.
I report in respgct of my ex8m5natlon of the Trusvs accounts carrled out under se￿￿)￿ 14Sof the 2011 Act ar
In carrying out rny examinallon I have follow8d all th& appllcable Direction5 given by the Charlty Comrnls8lon
und8r s8clSon 14515llbl ol lh& AGt,
An Indepèndent oxamlnalion doe8 not involve galheriro all the evkl8nce that would rÈqutred in an authl and
CQn5equEDllydoe5 not cover all the rnallers that an aL¥lltor consldor8 in glvlng Ihelr opinion on the accounts. Th
planning and conduct of an audit g083 b¥yui)d th8 limrted d55ulat￿ that an indepen(lenl examination can provldè.
Can86quenlly. l exprass no opinion aÈ lo whothor tho accounts presenl a'lrue gnLI fair vl8w and my repDrt 15
CoTrsequenlly, l 8xpr8ss no oplnlon as lo wh8lhtrr the accounts p￿Sent a'lru8 and lalf, view and my rewrt Is
IndepsTHlen¢ exarnlnBT'S StHtement
l am qualified lo undertak6 the 8xamlnalltsn by bèlng a qualified rnember of the In8tltul8 of Ch8rtered Acthunlanls
In Eny18nd and Wal&.
I have compblÈd my exanEiTr911on. I connrm that no malw181 malt8rs have Gotne lo tny gllention in connectlon
with the ex8minaiion glvlng m8 fAUS8 lo ￿lIev6 that In any mBtErlal rsspÈcl..
1. accountlng fecords were not kept In respect of the Trust ès requlr8d by $8cllon 130 of the Act,. or
2. thp aGGounls do not acwrd with those reciKds.
I have na concerns and have come across no matiers In conn8¢llon wllh the exarnlnalbn lo whkh attent￿n should
b6 drawn In this r8POrt in ordèr to enable a propBr understanding of Ihe 8{￿UnIS lo be r&ath6d.
D C MELLOR ACA CTA
Dixon Wilsan. 22 Chan￿ry Lane, London w¢￿ 1LS
Dal£'.
4 JunÈ 2025

THE ELVETHAM CHARITIES
RECEIPTS AND PAYMENTS ACCOUNT
114COME ACCOUNT (calthorp￿ Houses) IUnr8Strided Fund)
Year Ended 31 MaY¢h 2025
Nota
2025
2024
55.728
17.708
2ll64
53,113
16,708
Rgnigl kno)me-21 El¥e11Kim
Inlar8stoTrdBFQSllarwun15
Loon ERF
Loan Itom CMF
15,(N)O
S.956
Totsl fg¢etpt&lor I￿Y￿ar
79,756
119,￿1
DlrectGhBr1tsW&payinAntB
W21¢E
1,027
620
6,085
829
481
1.049
4.275
3,9
RPpaI￿Jnd
4,261
1,992
DonBOon la chaity
SvndrywAPSn
718
NoThdlrBct rhafitsblv p•ymontB
bookkeBm ond lees
4,273
3.271
Lxhpr poymAntB
7.155
2.￿0
19.445
7,155
12.290
19.445
-Cyd*AI Wlnt8ThznceFund
RgpAWneThlOF￿v￿-ERF
5Yr*Thi4fknon.¢MF
15.000
50,000
Pa)gtEntofTwii¥¥n beh&WVlE￿i10ro*￿ryRep￿IrFl*
PayrwQolTep#kson beha¥olc￿iC￿I MalTht8n8nceFund
5.140
S24
5,7
3,956
3.956
Total
,064
42.651
NetlpwMnlsllr4cglpts forth¢￿91
-31 %ts1th2024
115,3081
162.613
77.17D
C?Éh anobank balkn¢O41
-31 Marcb2D25
147,305

THE ELVETHAM CHARITIES
RECEIPTS AND PAYMENTS ACCOUNT
CYCLICAL MAINTENANCE FUND ILlnrestrS¢led Fund)
Year Ended 31 March 2025
2025
2024
Incomtr r*cBlpts
InvfjstrnBnl Income..
Bank Inierg51
Repaym@Trlrfk>gn Irom Irwne account
539
3S,WO
3S,485
539
Olh4rrgrelpl$
ApproprlalionÈ fiom Income accwnt
12.29U
Tot81 recelpls fortho
47.775
12.829
other ?xpendltur&
Loan to lllcome a¢caunl
R9pa￿￿nIaf repairs ￿ld Irom Income 8ccount
35,000
3.*6
T￿41 payrTrenls
3.958
35.OOD
43,619
Bgnk balance at
-31 kl&rth2D24
33.W3
5S,074
-3fj MzTck2025
77,722
33,903

THE ELVETH￿￿ CHARITIE5
RECEIPTS AND PAYMENTS Accoumr
EXTRAORDINARY REPAIRS FUND (Endowmenl Fund)
Year Ended 31 March 2025
2025
2024
ro¢elpt8
InYe5kntrnl In¢oma'.
88nk inièi¢Èl
Repaytn¢nlofioan firAn Income a¢¢ounl
251
Is,￿0
15,251
2S1
251
Other rg¢èlpts
Appropriallon8 trom Incotne acGwnl
7.155
Totsl reG￿pts forthfryoii
22,406
Olhar ExpÈrndllure
Loanlts I￿oM￿ account
15,000
Totgl payments
Is,￿0
NOt￿C•TPt￿Y￿efj￿If0rih¢Y¢￿r
22,4Q6
17,5g41
$nk baldnc¢at
.3fj ￿￿th2O24
17.436
25,1Y3D
-31 Mw¢h2025
39.842
17,43

THE ELVETHAN CHARITILS
STATEMENT or ASSETS AND LIABILITIES
At 31 March 2025
2025
2024
Monelary as%ets=
Bank bAlai)tÈÈ'.
lTh>Jmè ae.CDuiiI
On Deposll
Cyclical Malnl8nan￿ Fund
ExtraDrdinary R¥p8lr F￿d Ienduwmenl Fumll
41,JU5
100.0(MTr
77,722
62,613
10D,QOO
33.903
17.43Q
.10181 ¢dsh
264.869
213.952
Non•monotary a890ts:
Endowmeiil Fund
Freelidd Iqnd and buildffiu%.- Tl)p Alrrkn"hous8$- ¢osI
36.028
36,02
OlhEf&ssel$
Inveslmen15
268,U43
Incoine Eettount
1,981
1,931
1,901
prove I
9 8¢¢011nt%.
UAN tyG.CALTHORIJE, ESI.
I. SOUTHERN &SQ
TFusIF9
RÈVDA SlvllTH
Triislcc
R B PEREGRINE ESQ
Tr1181ee
LADYJ OAY
Trusle8
Dal
TS-

THE ELVETHAM CHARITIES
STATEMENT OF ASSETS AND LIA81LITIES
At 31 March 2025
Nota
2025
2024
Monotlry a889ts'.
8ank balancey-.
Income BCCDunt
On DepoÈll
Cycllr*l MalnteThanco Fund
ExlraoidlnaryRep81i Fund IEndDwmenl Fund)
47.305
100,000
77.722
62,813
loo.000
83,903
17,436
213.952
Tolal wh
Non-mon8tary agstrt8:
Endow￿8￿1 Fund
Freelwld land ar￿ buildin98.' The Amghouseg-
36.028
36,028
Olheras$ef8
252,856
InvÈslmenls
265,843
1,931
Inwme aecount
1,961
1.961
Wa approve th089 a¢counlÉ.
slti EUAN &G-CALTHORPE. BI.
Tru5180
UTHE
NESQ
EVD A SMITH
Trustse
R B PEREGRINE ESQ
Trusleo
LADY J DAY
Trus188
D818 2s

THE ELVETHAM CHARITIES
STATEMENT OF ASSETS AND LIABILITIES
At 31 March 2025
2025
2024
Morngtaryg8Bets:
Bank b8lanc88'.
Ineome atcouNI
On Dèposll
Cydlcal Malnt6Danco Fund
ExloordinaryRvp81r Fund IEndovm8nl Fund)
47.a05
100,OOQ
77.722
39,842
62.013
loo,000
33,903
Toi81 CBsh
284,869
215 b52
NoTrmonétarya8Bèt*:
Endowm8nl Fund
Fteehold laTrd 8nd builthng#.' The AImBho￿o￿- ¢031
3e.028
othBr8ssot6
Inva3lmanl$
288,843
252,858
Llabllltse8:
Inrnme at¢ounl
1.061
Wo¥PWO¥è thèsg accounts.
SIA ÉUAN A-G-CALT140RPE, BI.
TTU5199
TSOUTHERN ESQ
T￿￿18
REVDA SMITH
R B PEREGRINE ESQ
Ywsl&B
LADY J OAY
Tw51efj

THE ELVETHAM CHARITIES
At 31 March 2025
rt¥
Income aGcoun(
On D¢posIt
47,305
1011,1)UO"
62.615
ILK),Ots
E%liaoidinary Repalf Fiind (Endowment FuTrdl
29,642
17.4d6
TTJte¢f%811
?1.8,$:4?.
NoK.mohÈtary Bssels:
Frephplrf IRrJOorJd iwikJinDs,' Th6 AJwEhoust3- GDSI
36,0211
lJaPI!mo$.'
InDame aGcounl
1,951
1,031
We approve Ih858 accouills.
'ItUBtg8
Trnst@B
Tnisi8B
YJL)AY
Ll4Tie I l . n'>

THE ELVETHAM CHARITIES
STATEMENT or ASSITS AND I_IABILITIES
At 31 March 2025
14Dte
2024
Bank b￿1￿￿(0$..
Ir*omft ar.￿l￿nI
On DepoEII
Lycli¢al ￿￿InisnaTlce FurKI
Xtra￿din11ry Rep911 Fund IEndowmwil Fund)
47.305
DO,ODa
77,722
39.842
B2.613
100,000
33,903
17,4d6
Total Cash
264,869
213,152
N0ll-Tnonetary 85sels.'
Eiidowinpnt
Frefjhold land and buildings., Th8 Almshou$e3.. Cost
36.02
36,028
OthorassetS
2fj8.843
2b2,B56
Inconia aft£otsnl
1,961
1,U31
1,961
1.131
WB appTove Ihèw acGoiml&.
SIR CUAN A-G-CALTHORPE, BI.
Trvsle
T SOUTHERN ESQ
REVI) A SMI'TH
TrthtDB
R B PEREGRINF. kSQ
Tru¥1eg
Dale

THE ELVETh AM CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
Year Ended 31 March 2025
counlancy¥Dd prtrfesslonal ftreg
2D25
2024
Ac(xuntarLcyf&&5 paYa￿e tothg IndÈpend&nl examlnof¥flim 8$follows.'
EXAThina￿thr*
833
781
8ookke8pln9 fees pay¥bÈ to IheaG<x>untanls
2,115
2,490
S*¢rètsrfal lees
1,225
4,ZT3
3,271
Llabllllks
- IncomaA£couni
PrDfesslon81 fe0$ lA¢toun￿ThQY indÈpender*l examinalloDI
1.961
1,931
Fre•hold land and IiulEdlngs
Fre8hold land and bulldlThos repTespnl Wmshouses whlchWBre bulll ln 1g64 Al & costof £86.028, and are
made 019 bungtslows, a hDu8awhlth ig rÈnled oul and a boilBr hou80. Tl* Wm8hous85 part ollhe
peimsnenlendowmonl ol th$ Ghaiily. 11 is pollcyof Ihe Iruslee6 lo mailll8iD IhBseto a hlgh slandard.
Thg insured value of I￿se IB £1.378.17412DZ4-. £1.334.1471

THE ELVETHAM CHARITIES
NOTESTO THE FINANC￿LsTATE1lENTS
Ye￿rE￿d8￿ 31 202S
v4*kn4nts
ApdlllZ4
H￿￿￿￿l3$ m￿}1￿2
IPtofiiion
$1 M*r¢h
2025
Efy4oY4Srtaryhp*lrFund
29.544
?B,644
2&È41
59*4
3916 59,594
1QE.n4
89.2J
lJ5
437
LK¢WlvbNBDThdF
29,1
24fj8
3Q411
12,1691
J5Q
4?,407
35S
Y￿(￿r￿1￿1 MÈh*2LL2S
26B,843
1B2.
1BZ,T6
252.156