REGISTERED CHARITY NUMBER: 236697 WILLIAM BERMAN'STRUST FINANCIAL STATEMENTS FOR TrIE YEAR ENDED 31 DECEM8ER 2024
WILIIAM BERMAN'S TRUST CONTENTS OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Pagè R•port otthe Truste Indepdent ExaffilneT'S Report Statement ol Flnanclal Actlvltles Balance She Notes to the Flnanclal Statements 7 to 16 Detalled Statémetit of F5nahclal Actlvltles 17 to 18
WILLIAM BERMAN'STRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present thelr report 81on£ wlth the financial statements ol the charlty for the year ended 31 December 2024. The trustÈÈs have adopted the provislon5 of th2 Statement ol Recommended Practice ISORPI Accounting and Reportlng by Charltles" in preparing the annual report and flnanc131 staternent5 Df the charltv. The Ilnancl31 statements have been preparwd in accordance wlth the ac£ountlnE policles set out In DOt8S to the accounts on pages 7 and 8 and comply wlth the charlty's eovernlng document, the Charlties Act 2011 and Accountln8 and Reportln£ by Charitles.. Statement of ReCIrMended Practice appllcable to charltles wep£rln8 thelr accounts in accordante wlth the Financial Reportlng Standard applS¢able In the UK and Republic of Ireland published in October 2019. OBJEcfivES AND ACTIVITIES Objectlvts and alms The objects of the Charlty are as follows.. 111 The provi51on ol almshouses for 'poor women of good conduct, elther wldow5 or unmariied who shzll be of the age of 50 years at the least at the date of their appointrnent and who shall conunue unmarrled, 121 Any residual income is to be applied forthe a5s15tancE of Mlnlsters ur tr8lnee Mlnlsters of Rellgion,. the 5UPPOrt of phana8es and sim113r InstkutlDns,' the suppoit of Snstltutions carin8 foi chronlcally sick p2rsons,' and the rellef of person5 in straiteNed clrcumstance& Slgnltlcant arllvltles The Charity currently provides seventeen almshouse propertles and Its alm Is to utllise these as far 3$ p055ible to meet the oblectlves of the Chailty. Publlc benef The activlties of the Charty 8rÈ the provislDn and malntenance of seventeerTr 31mshouses for the beneflclal cl85S ieferred to In the flrst Dblect above and In doing thls the Trustees keep in mind the Charlty Commlssloners, guidance on publlc beneflt. ACHIEVEMENT AND PERFORMANCE char01e actlvltles Durlng the ye8r the Tru5tee5 CDntlnuEd to be concerned for the wellare of resldents 3nd rnalntenanTr of the almshou5e5. The Trustee5 We Sad to note the retlrement of Mr Kelth Hawkes and Mrs Ma¥lon Lofts as Trustees. Mr Hawkes had served as Chair durlng hls servlce to the Charlty as Trustee from August 2013. HIS dI1genCe wlth regard to flnattclal matters In pèrtlcular was noted, Mrs Lofts had served as Trustee slnce Aprll 2012 and her Ilaison with res4dents over ihat perltmj was much appreclated. The exlstingTrustees were pleased to weltome Mr Stelan Tkaczyk and Mrs lean McGlnley as newTru5tee5. Two resldents had moved from the almshouses, Dne Into rEsSdentlal care and one to be closer to famity. The two propertles were then refurblshed and new residents aprolnted. kvlng recelved the Qulnquennlal Inspection report whlch dld not Identlfy any Sssue requirlng irnmediate attention the Trvstees consldered various tmprovement works to the hlrnshou5es and commissloned the pawng of the c8r park area to prov4de eaer ac55 for wh2elthalr and walklng fr8me users. The block pavl allowed for more cars to park on slte.
WILLIAM BERMAN'S TRUST REPORT OF THE TRUSTEES FOR THE Y£AR ENDED 31 DEBEft 2024 FINANCIAL REVIEW Flnanclal posltlon ThE Charfty's finantlal po51tlon 15 a5 set Dut lft the Balance eet on page 6 ar¢d Is con$5dered satlsfacto¥y, ReserNes poll¢y The Charity'5 policy on reserves Is to malntain suffl£lent reseive5 to enable the Charlty to continue to achleve Its princlpal objecte$. FUTURE PLANS The Trustees are mlndful ol the conslderable Investments held by the Charlty. They contlnue explore the 5sibility of providlng more almshouses and are lookln8 to lutwe energy efflciency 8lld gas boiler rep18cement options. They contlnue to Invest In malntenance futKls to ensure a hlgh qualSty of living conditions at 311 the almshouses. STRUCYUR4 GOVERNANCE AND MANAGEMENT Govemlng dorurnent Rev. William Berman founded the Charity in the year 1700 and it was establlshed by an Order of the Charity Commissloners dated 2nd May 1871 8nd Is regulated by a Scheme of the same date. It was further approved and constituted by a Scheme dated 30th actober 1953 and varlatlons dated Ilth May 1989 and 2nd April 1997 and an order dated 1st June 27. Recrultment and appolntmenl of newtrustees The Trustees continue to be mlndlul of the need to malntaln a strong Trust dY by making tlmely appolntments when vacèncles ocEur. A5 vacancles for Trustees arlse applicatlon5 are sought trom poten81 candldates known to the Trustees and other suitable local people. Appllcants afe then considered by the Tiustees and appointments made by resolution ol the Trustees. Or8anlsatlonal structure The Clerk to the Charlty carries out the djy to day rvnnlng of the Charlty under the 8ulda#Ee and Supe510 of the Trustees, who normally meet four tlmes durlng trdch year and more frequently when there Is buslness to be tTansacted. Inductlon and tralhln2 of new trusteès New Trustees are briefed by the Clerk and the estIng frustees on the hlstory and actlvltlES of the Charity. They are prowlded with a copy of the Charity Commlsslon publication The E55entlal TrLiStee" detalling their responsibllities and providing guidance on belng 8 Trustee. New Trustees are provlded wlth a copy of the Charlty Scheme athd the latest ccoullts. Related partles There are no other charltles related to the Wllllam Berman's Trust, The Clerk to the Charlty Is also Clerk to other almshousÈ chaiitle5. Rlsk management As an Int&gral part of thelr mana8eFn8nt po116y th8 Trust885 mntatn re8ulèr chEEks or rlsk factors whl¢h may adversely affect the Ch3rlty. Through the employment of wolessional advisDrs the Trustees seek to erssure that all of the Charity's management and declslon makir¥g proce55es take full account of, and compl¥ wlth, relevant legLqlatlon 3Dd regulatory control5. Insurance iwludlrg property ownershlp and publlc liabllity is reasse5spd annually. RÉFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charlty number 236697
WILLIAM 8ERMAN'STAUST REPORT OF THE TRUSTEES FCfftTHE YÉAH ENDED 31 DECEMBER 2024 Prln£lpal address c/0 Cl8re Heyes 18 Newbridge Hill West Bergholt Colchester Essex C06 3ER Trustees Mr K O Hawkes Ireslgned 914n41 Mrs J Gowlett Mrs M Lofts Ireslgned 9141241 Mr S Hlll Mrs CTuck, Chalr Mr C Enderby Mrs R Anderson Mr STkgtiyk lappinted 9141241 Mrs l McGinley lappolnted 914n41 Independent Examlnér Simon Wellin8 TC Group Accountants Town Wall House Ikerne Hlll Colchester Essex C03 3AD Sollcltors Lar)dons Landon HOSe 9 Shenfield Road rentwood Essex CM15 8AH Clerk to the Chary Mrs C Heyes 18 NewbrldEe Hill West Bergholt Colchester Essex C06 3ER Approved byorder ot the board ol trustees on.... . and skned on its behalf by.. Mrs CTuck- Trustee
INDEPENDENT EXAMINER'S REPORTTOTHE TRUSTEES OF WILLIAM BERMAN'STRUST Independent examlner's report to the ttuste¢s ol Wllliam Berman's Trust I report to the Charlty trustees on my examln8tion of the accounts of Willlam Berman's Trst (the Trust) for the year ended 31 Oecember 2024. Responslbllltles and bas18 of report As the charilv trustees of the Trust you are responslble for the preparauon of the accounts In accordance wlth the regullementsof the ChaTltle5 Acl 1011 Ilhe Act'l. I report in respect of my ex8mlnation of the frust's accounts carrd out under Section 145 of the Att and in c2rrwng out my exarlnatlon I have followed all appllc£ble Dlrectlon5 given by the Charfty Commission under Se&ion 14515llbl of the Act. Independent examlner's statement I have completed my examination, I confirm that no materlal matters have come to my attention in connectlon wlth the examlnatlon givlng me causeto believe that In any materlal respect.. 3¢countlnE records were not kept In respett of the Trust a5 required by Sectlon 130 of the Act,. or the accounts do not accord with those record5,' or the accounts do not comply wlth the applic8ble reqvirernent5 concernlng theform and content of accounts set out In the Ch8rftles IAcccunts and Reportsl Regulations 2008 other than any requlrement that the accounts gNe a true and farr vlew which Is not è m3tter considered as part of an independent examlnatlon. I have no toncerns and have come across no other matters In connectlon wlth the examlnatlox to which attentlon should be drawn Inthls report in order to enable a proper understandlnB of the accounts to be reached, Slmon Welllng TC Group Accountants Town Wall House 8alkerne Hill Colchester E55ex C03 3AD Date..
WILLIAM 8ERMAN'S TRUST STATEMÉNT OF FINANCIALAcnviTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total lunds 2023 Totsl funds Unrestrlcted funds Restrlcted fund Endowment funds Notes INCOIVIE AND ENDOWMENTS FROM Charitable actIV5¢S Almshouse 8Ctfvity 141,049 141049 135,746 Investment Income 43,812 337 44,149 38,526 Total 184,861 337 18S,198 174,272 EXPENDITURE ON Ralslng fvnds Investment management tosts 5,055 5,055 4,668 charab}e attlvllles Almshouse activity Grants Resldents expenses 113,1$8 33,DCII 469 113,188 33,000 108,351 36,000 916 337 Total 151.712 337 152,049 149,935 33,149 33.149 24,337 Net galns on investments 2.865 29,930 22,076 NET hNCOME 36,014 29,930 65,944 46,413 rran$f*rs between fibnd5 25,4771 25A77 Net movem#nt In fun41$ 10,537 SSN07 65,944 46.413 RECONCILIATtON OF FUNOS Total funds brought forward 419078 1,006,296 2,425,374 2,378.961 TOTAL FUNDS CARRIED FORWARD 429,615 2,061.703 2,491,318 2,425,374 CONTINUIMG OPERATIONS All income and expenditure has arlsen frC cOnnUng actitles. The notes form part of these finandal statements
WILLIAM 8EAMAN'STRUST BALAN SHEET 31 DECEM8ER 2024 2024 Total funds 2023 Tot81 lund5 Unrestricted fund5 Restricted fund Endowment funds Notes FIXED ASSETS Tangible assets 1nvestmenr5 1,209,021 803,6S9 1.209,022 i.a18,145 1,183,545 970.037 io 214 486 214A86 2,012,681 2,227,167 2,153,582 CURRENfA5SETS Debtors Cash at bank li 6009 223,129 6,809 172,151 7,093 278,295 49,022 229,938 49,022 276.960 285,388 CREDITORS Amounts falllng due within one year 12 (u.8091 114.8091 113,5961 NET CURXEMf ASSETS 215,129 49.022 264.151 271,792 TOTALASSETS LESS CURRENT LIABILmE5 429,615 ZA161,703 1491,318 2,425,374 NET ASSErs 429,615 2,061.703 2,491,a18 2,425,374 FUNDS Unrestrlcted funds Endowment funds 13 429.615 I061.703 419.078 2,006,296 TOTAL FUNDS 2,491.518 2.425,374 The financlal statements were approved by the Board of Trustees and authtsrised for Issue on and were slgned on ¢ts behalf by.. Mrs CTuck- Trustee MrsJGo tt- Trustee The notes form part of these financi31 statements
WILLIAM BERMAN'S TRUST NOTESTO THE FINANCIAL STATEMENTS FOR THE VEAA ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basts of preparlng the Ilnanclal Statements The Ilnanclal statements of the charity, whlch Is a publlc beneflt entlty under FRS 102, h3ve been prered in accordance wlth the Charitles SORP (FR5 1021 'ActountinE and Reportlng by CharStles'. Staternent of Recommended Pracfjce appllcable to charities yep8ring thelr accounts In accord3nce wtrth the Flnanci81 Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021 leflective l Janua¥y 20191,, Financial ReportlnE Standard 102 'The FInancl Reportlng Standard applicable in the UK and Republic of Ireknd, and the charitie5 Act 2011. The flnancial statements have been prepared under the historKal cost convention. with the exceptlon of Investmentswhlch are Included at mafket value, as modified by the revaluation of certaln assets. The financlal statement5 are presented In sterllng whlch Is the function31 curre¥>cy of thè tharfty and rounded to the nearest £. Fund Accountlng Unrestrlcted funds can be used In accordance wlth the charltablÈ oblectlves at the dlscretlon ol the tru5tee5. Designated funds are unrestricted funds ol the charlty whlch the trustees have declded at thelr dlscrÈtlon to Set aslde to Use lor a spe¢ih"t purpose. Restricted funds can only be used for partlcular restricted purposes wlthin the objects of the charity. Restrlctions arise when 5peclfled by the donor or when funds are ralsed for partlcular restricted purposes. Prnanent endowment funds are non-expenttsble funds which are norm8lly held Indeflnltely. Further explanatlon ol the natLire and pwpose of each fund Is Included in the notes tD the Ilnancial statements. Golng concer The ac¢aunts are prepared on a Koing CDncern basis as tIETe are no mater181 unTrrtainties about the charity's 8billtyto Conne. ltrTrcome All Income is r2co8nlsed In the Statemert ol Flnancial Acbvltle5 once the tharlty has entiilemenT lo the fund5, It Ss probablethat the InCe wlll be received and the amount can be measured rellably. Income from government and other grants, whether 'c8pitsI' grants or 'revenue' £rant& Is recognlsed when the Charlty h85 entytlement to the funds. any performance conditions aEtached to the g¥8nts have been met, IE Is probable that the Income will be recelved and the amount can be measured reliably and Is not deferred. For le8acles, entitlement Is taken as the earller of the date on whlch elther.. the Charlty is aware that probate has been @ranted, the estate has been finallsed and notlficatlon has been made by the executorlsl to the Charity that a dlstrlbution wlll be made, or when a dlstrlbutlon is recelved from the estate, Donations and other voluntary Income are reflected In the accounts lor the period In whlch they are re£elved. Donatlons in Ire recognlsed by the Charfty when recelved except In the case of servltes provided free LY undervalue by voluntarystalf or others whlch are not reflected In the accounts. Interest Re¢elvable Interest on funds held on deposlt Is Included when recelwable and the amount can be measured rellably by the Charlty., thls is normally upon notlfication of the Interest paid or payabl2 by the B3nk. Expendlturè Llabllltles are recogni5ed as expenditure as soon as there 5s a leg31 or wnstructlve obligatlon cotnmittlng the charlty to that expendlture, It Is probable that a transfer of ecoiiomlc beneflts will be requlred In settlemenl 8nd the afflount ol the obllgation can be measured rellably. Expenditure 15 accounted for on an accruals basls and has been clasgifled under heading5 that a88regate all cost related to the category. Where cost5 cannot be directly attrlbuted tD partlcular he3d1& they have been allocated to activltles on a basls conslstent with the use of resources,
WILLIAM BERMAN'S TRUST NOTESTOTHÉ FINANCIALSTATEMÉNTS-£ontlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POUCIES- contlnued Rep•lrs and Malntenan¢e of Propertles The charges in the Statement of Flnanclal Actfvltle5 in respect ol Cyclical Malntenance znd Extraordlnarv Repalrs reflect the Tru5tees' constani concern to keep the propertles in 8ood condltlon, and are In accordan wlth the Almshouse Assotlatlons, recommendatlon tlkt Almshouse Charltie5 should set aslde each year speclfSc sutns In thls r&pect. Transfers are made fiorn the 5ncome Account each year to the Extiaordinary Repalr Fund to cover extraordinary repairs as they arise and to the Cycllcal maintenan Fund to cover repaSrs whlth arise on a wlical basis. Support Costs The Ch8rity's govemance costs are allocated entl¥ely to the Almshouse Costg 51nce 5UPPOrt Eosts relating to other actfvltie& are consldeied Immaterlal. Grants offered subject to ¢onditlons whlch have not been met aE the year end date a noted as a commitrnent but not accrued as expendlture. Tar¥glble flxed assets The cast of reFJrbi5hment and Improvements to the existlng freehold property are wrltten olf tts the Income Account as Incurred. Any malor improvements to the exlsting freehcld property or new building works ?re The freehold property Is depreclated using the straight Ilne method at a rate c£ltulated to w¥lte off the assets over thefr estimated useful life which 15 consldered to be 100 years. Invostments Inve5trnents ère shown on the &alance Sheet at thelr market walue. Changes In market values durlng an accountlng period are reflected In the accounts as unreallsed galns or losses. Upon dlsptssal of an inwestment the drfference between orlginal cost and dISpal proceeds Is reflected In the accounts as a reallsed 8èin or loss and an adlustm¢nt Is made to unre3lised 8alns or 1055es to reverse unrealised movements In value In eayller years. Debtors Contributlon and other debtors are recognlsed at the SettMent arnOnt due. Prepaymentg are valued at the mount prepald net of ary trade d15counts due. Cash at Bank ind kn Hand Cash at bank and cash In hand Indudes cash and short term hl8hty Ilquld investments wlth a short matu¥lty of three months or less frorn the date of acqulsltlon or openlng ol the deposlt trr slrnilar account. Credltors and Provlslons Credltors and provislons are reco8nlsed where the Charlty has a present obligatlon resultlng from a past event that wlll probably result In the transfer of funds to 3 thlrd party and the amount due to settle the obllgation c&n be rneasur8d or èstlmatsd reliably. Cr8dltors and prOS1on5 are normally recognlsed at thelr settlement amount after allowlnE for any trade dlscDunts due. Taxallon The charlty Isexomptfrom tax on charltable activitles.
WILUAM BERMAN'S TRUST NOTES TO THE FINANCIALSTATEMENT5. Contlnued FOR THE YEAR ÉNDED 310£MBER 2024 INVESTMENT INCOME 2024 2023 Dlvldends recelvable Accumulated income HSBC deposit account Interest COIF dep051t atCDunt interest R&thbones account Interest 30,879 3,536 27,490 3,271 9,248 486 7,183 577 44.149 38,526 INCOME FROM CHARffABLE ACTIVITIES ?Q23 Almshouse actlvity Contrlbutlons recefvable Losses from vacancies Gas contrlbutlons recelvable Launthy charges 139,602 15,6841 6,846 285 134,809 14,6821 5,344 275 141,049 135,746 CHARITA8LE ACTMTIES COSTS Direct Co¥t5 IseE ntstÈ 51 Grant fundlrg of aCtItIeS Support Costs lsee note 61 Totals Almshouse attlvlty Grants Residents expenses 96,677 16,511 113.188 33,000 806 33,000 806 97,483 33,000 16,511 146,994
WILLIAN BERMAN'S TRUST NOTES TO IHE FINANCIALSTATEMENTS. Contfnued FOR THE AR £NDED 31 DEMbER 20Z4 DIRECTCOSTS OF OIARITA8LE A1VITIEs 2024 2023 Rates and water Insurance Llght and heat Repalr5 and malntenance Cytlical rep8lrs Extraordinary repairs Gardening Careline charges Sundry Cleaner Bad déL515 WYITtèll off Telephone Fiesld&nts expenses Prole55ion&l fèes Depreclatlon 4,150 3,184 17.S28 15.276 6,000 24.841 6.325 3,457 2,912 14,416 14,844 2.995 27,979 5,650 3,203 218 750 262 743 916 210 716 22 806 3,312 15,103 14,602 97.483 92,947 SUPPORT COSTS Governance costs Management Tota15 Almshouse aetlwf(y 11,645 4,866 16,511 Support EDSts, inctuded In the above. are as follows,, 2024 Almshouse ctlvlty 2023 Total aCtitIeS Trustee5' remuneratlon etc Clerks fees Subscrlptions Sundry expenses Independent examlnatlon tees Accountancy fees 83 10,914 233 458 10,9 407 324 4,242 4,038 16,511 16,320
WILLIAM BERMAN'STRUST NOTESTO THE FINANCIALSTATEMENTS- ¢onth)ued FOR THE YEAR ENDED 31 DECEMBER Z024 TRU5TEES' REMUNERATION AND BENEFITS There were no trustees, r2munEratlDn or other benefits forthe year ended 31 December 2024 ntsr for the Year ended 310erember 2022. Tru5tees' èjpenses 2024 2023 Trustees, expenses 83 Tru5tee5 expenseswere in respect tsf YelmbuT5eTnent of three trustee5travel expensès. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACfWITIES Unrestrlcted funds Restricted fund End¢)wment funds Tetal fund5 INCOME AND ENDOWMENTS FRON Charltable actlvltle5 Almshouse activlty 135,746 135,746 Investment IncDme 38,211 315 38,526 Tot81 173.957 315 174,272 EXPENDITURE ON RBlsin4 funds Investment manè8Èment costs 4,668 4,66E Charltable Adfjvltles Almshouse activlty Grants Re55dents expenses IOB,351 36.000 601 108,351 36,000 916 315 Total 149,620 315 149,S35 24,337 24.337 Net Bains on Investments 11,385 10,691 22,076 INCOME 3S.722 10,691 46,413 Transters between fumds 14,602 14,6021 Net movempnt In funds 50.324 13,9tii 46,413 RECONCILIATION OF WNDS Total funds brDught forward 368,754 2.010,207 2,378.961 TOTAL FLWDS CARRIED FORWARD 419,078 2,006,296 2,425,374 -li-
WILLIAM 8ERMAN'5 TRUST NOTESTO THE FINANCIAL STATÉMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED A55Ers Freehold property COST At l January 2024 Additlons 1.392,751 40,580 At 31 Oecember 2024 1,433,331 DEPRECIATION At l January 2024 Charge It)r year 209,206 15.103 At 31 December 2024 224,309 BOOKVALUE At 31 December 2024 1.209.022 At 31 December 2D23 1.183.545 FIXED ASSET INVESTMENTS Llsted Investments MARKET VALUE At l January 2024 Additions Disposals Rev31uatlons 970,037 18,624 13,3111 32,795 At 31 Dember 2024 018 145 NET BOCH( VALUE At 310ecember 2024 1.018.145 At 31 December 2023 970.037 There were no Investment assets outside the UK. -12-
WILLIAM B£RMAN'STftUST NOTE5TO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 io, FIXED ASSET INVESTMENTS. contlnu*d Cost or valuation at 31 De(ernber 2024 is represented by.. Llsted Investment$ Accurnul£ted revaluation 8aln5 Cost 455A123 563,122 L018,145 ii. DE8TORS.. AMOUNTS FALLING DUE WITHIN tx YEAR 2024 2023 Contributions arrears Other debtors Prepayments and accrued income 3,596 3,317 71 3,705 3,213 8¢J9 7,093 12. CREOITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Contributiorts ¥ecelved in adydnce Accruals and deferred income 5,900 8,909 4,552 9,044 14,80 13,596 MOVEMENT IN FUNDS Net movement In funds Tian51e between funds At 31.12.24 At I,1.24 Unrestrl¢t¢d lund$ Income Account Extraordinary Repalr Fund Cycllcèl Maintenance Fund Development Fund 86,358 183,049 34,671 115,000 31,771 10,243 16,(KIDI IZ5,4771 92,652 193,Z92 28,671 iis,000 419,078 36,014 12S,4771 429,615 Enthwment fvnd5 Capjtal Account Mi55150bel Susan Emilf Field's Bequest Capltal R0Upmen1 Fund I,S69.434 8,023 428,839 2A56 137 27,337 25,477 1.597,367 8,160 456,176 2,006,296 29,930 25,477 2,061,703 TOTAL FUNDS 2 425,374 65,944 2,491,518 -13-
WILLIAM BERMAN'S TRUST NOTESTO THE FINANCIAL STATEMENT5. contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ia. MOVÈMENT IN FLhlltsS. contlnued Net movement in funds, Iluded In the abDvE are as follows,, Incomlng resources ResourcÈ5 expended Gains and 105se5 Movement ir* fvnds Unreslrlcted funds Inc.omeAcÉeunt Extraordlnary Rep31r Fund Cycllcal Malntenance Fund 181,325 3,S36 1145,7121 13,8421 707 31.771 16,0th)1 6.0001 184,861 1151,7121 2,865 36K114 Rèstrltted fund5 Mls$150bel Susan Emlly FleSd's Bequest Inc(Kne Fund 337 13371 Éndowment fiEnits Capit31 Account Mlss Isobd Susan Emlly Field's Beqvest Capltal Recoupmeni Fund 2,456 137 27,337 2,456 137 27,337 29,930 19,930 TOTAL FUhtDS 185,198 152,0491 32.795 65,944 Comparallves for fftovement In funds Net rnovement In lund5 Tran5ters between funds At 31.12,23 At I,1.23 Unrestrlcted funds Income Accoutht Emtrzordlnary Repalr Fund Cyclical M2lntenance Fund Development Fund 92,882 168,206 37,666 70,0(¥J 23,874 14,843 12,9951 130,3981 86,358 183,049 34,671 115.000 45.ODD 368,754 35,722 14,602 419,078 Endowm¥nt funds Capital A££ount Miss IsobEI Susan Emlly FielTI's Bequest Capltal Recoupment Fund 1,580.014 7,853 422.330 4,022 160 6,509 IJ4,602 I,S69,434 8.023 428,839 2,010,207 10,691 14,6021 2,006,296 TOTAL FUNDS 2,378,961 46.413 2,425,374 -14-
WILLIAM BEftMAN'sTrusr NOTESTO ThE FINANCIAL5TATEMENTS- conilnued FOR THE YEAR ENDED 31 DECEM&ER ZO24 13. OVEMENT IN FUNDS. contlnued Cgmparative net movement funds Included in the above are a5 follows.. Incomlng resources Pesources expended 6alns and losses Movement In funds Unrestrltted fund$ Income Account Extraordlnary Repalr Fund Cyclical M3intenance Fund 170.686 3,271 1146,62SI 11871 11.572 23,874 14,843 12,9951 2,9951 173,957 1149,6201 11.385 35,722 RestrlctEd fund$ Mlss lsobel Susan Emlly Field's Bequest Incorne Fund 315 Endowment funds C3Pital Account M*ss Isobel 5us8n EMI Fleld'5 Bequest Capltal Recoupment Fund 4,022 160 &509 4,022 160 6,509 10,691 10,691 TOTAL FUNDS 174,272 149,9351 22,076 46,413 Income Account The Income Account 15 unrestrlcted and 3vai1able for the general purposes ol the Chaylty. The Fund rÈpresents accumulated surpluses of the Ch4rlty. Extraorthnary Repalr Fund The Extr8ordlnary Repalr Fund Is unrestr5cted but deslgnated by the Trustees for future major repalrs and Improvements io the Charlty's almshouses. The Fund is 5peclfically Invested. Income from the investments is added to the Fund. A transfer to the Fund 15 made each yew from the IrQme Account of a speclfbc amount agreed by the Trustee5. Cycllcal MalnlEnance Fund The Cycllcal Malntenance Fund 15 unrEStrlcted but deslBnated by theTrustees fOrfUtu recurrln8 rnalntenBllce 45 nerewry at the charilv'l ilrnshou%es. A trinsfer to the Fund Is madR oath ye4rfrom the Inrpme hF¢unt cf a 5peclf4r amount agreed by the Trustee& Developm1 Fund The Developrnent Fund is unrestrlcted but deslgnated by the Trustee5 to make provlslon for new accommodatlon for the beneflclal class of the (harlty in the future. A transfer to the Fund Is m3de flom the Income Account ol a spedlic amount a5 agreed by the Trustees. Capltal Account The Capltal Account is Permanent Endowment ol the Charlty. The Fund Is partty represented by the Charlty's equity in land and bullcslngs with the balan beln8 specillcally Invested. Incorne from these Investments is avallable for the general purposes of the Charlty. U)anges in the net book value of the IK)U51n8 properties are reflected in the Capital Account by a transfer from or to the Income Account, -15-
WILLIAM BERMAN'STRUST NOTESTO THE FINANCIAL5TATEMENTS- contlnued FOR THE YEAR ENDED JI DECEMBER 2024 13. MOVEMENT IN FUNDS. contlnued Mlss Isobel Susan Emlly Fleld's Beqest and Income Fund The bequest of Mb5 Fleld Is Permanent Endowment of the Charlty and is speclflcally Inwe5ted. Income from these Investment5 is restrlcted to the benefit of the Charlty's almswomen. Catal Retoupment Fund Ihe &pit81 Recoupment Fund is permanent endowment of the Charity was estab115hed to recoup funds wlthdrawn f¥om the Capltal Account and Miss Isobel Susan Emlly F5Èld'$ Bequest to Improwe the Charity's propert6e5. The Charlty Commisslon accepted the Trustees resolutlon, dated 10 Apill 2019. to cancel the annual recoupments so that these funds can be utlllsed on the Charlty's beneficlaiies. 14. RELATED PARTY D15CLOSURES There were no related wrty transactionsfor the year ended 31 December 2024. -16-
WILLIAM BERMAN'5TRUST DETAILED STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR ENDED 31 tJECEMBER Z024 2024 2023 INCOME AND ENDOWMENTS Investment Income DlvldeTrds recelv3ble Accumulzted Incorne HSBC deposbt attount Interest COIF deposltaccount Interest Rathbones account Interest 50,879 3.536 27,490 3.271 Y,248 486 7,183 577 44,149 3&526 charkable 3ttlvltlos Contrlbutlons recefvable Losses from v&carleS Gas contributlOn5 Fecelvab Laundrychèrges 159,6L12 15.6841 6,846 285 134,809 14.6821 9.344 275 141,049 135.746 Total IncomlnB re$our¢¢s 185.198 174.272 EXPENDITURE Investment management cost$ Investment management Costs 5,055 4,668 h8rltable actlvllles Rates and water Insur8nce Llght and heat Repalrs and rnalntenance Cyclkal reIrS Extraordlnaiy repalrs 6ardenlng Carellne char8es Sundry Cleaner Bad debts wrltten off Telephone Ae51dentsexpenses PrDfes51onal fees FTeehold property Grantsto Instltutlons 4,150 3,184 17,528 15,276 6,OUO 24,841 6,3Z5 3,4S7 2.912 14.416 14,844 2,995 27,979 5,650 3,103 218 750 262 743 916 210 716 22 806 3,312 IS,lQ3 33,000 14,602 36,0 130A83 124947 Thls p8gE does not form part of the ststutoryllnanclal statement5 -17-
WILLIAM BERMAN'STRUST DETAILED STATE MENT OF FINANCIAL AcnviriES FOR YME YEAR ENDED 31 DECEMBER 2024 2024 2023 5upporl costs Management Trustee5' expenses Clerks fees 5ubscriptlons Sundryexpenses 83 10,914 233 458 10,914 407 11,645 11,698 Govemance ¢ost5 Independent examlnatlon fees AccountanEy fees 624 4,Z42 594 4,038 4,632 Total resourtrs expended 152.049 149,Y35 et Intomebefore galns and Io55e5 33,14Y 24,337 Reali5ed recognlsed eains and 1055e5 Rea115ed Ealns/llossesl on Ilxed asset Investments £460 2,042 Net Incom 34.609 26,379 Thls page does not form part of thÈststutory linaThclal statements