**REGISTERED CHARITY NUMBER: 236699**
**Croston United Charities Report of the Trustees and**
## **Unaudited Financial Statements**
**for the Year Ended 30 June 2024**
**Croston United Charities**
## **Contents of the Financial Statements**
**for the year ended 30 June 2024**
||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Report of the Trustees**|2 to 4|
|**Independent Examiner's Report**|5|
|**Statement of Financial Activities**|6|
|**Balance Sheet**|7|
|**Notes to the Financial Statements**|8 to 13|
**Croston United Charities**
**Reference and Administrative Details for the year ended 30 June 2024**
|**TRUSTEES**|GM Kearton|
|---|---|
||K Almond|
||AC Marston|
||MJ Driver|
||M Woods|
||BRP Paillusson (resigned 6/10/2023)|
||SJ Myers (resigned 24/6/2024)|
||JR Taylor (resigned 15/4/2024)|
||HM Lloyd|
||P Fenemore (appointed 6/10/2023) (resigned 1/4/2025)|
|**PRINCIPAL ADDRESS**|28 Eaton Avenue|
||Matrix Office Park|
||Buckshaw Village|
||Chorley|
||Lancashire|
||PR7 7NA|
|**REGISTERED CHARITY**|236699|
|**NUMBER**||
|**INDEPENDENT EXAMINER**|McMillan & Co LLP|
||Chartered Accountants|
||28 Eaton Avenue|
||Matrix Office Park|
||Buckshaw Village|
||Chorley|
||Lancashire|
||PR7 7NA|
Page 1
## **Croston United Charities**
## **Report of the Trustees for the year ended 30 June 2024**
The trustees present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects are:
- The provision of housing accommodation for beneficiaries;
- Such charitable purposes for the benefit of the residents as the trustees decide; and
- The relief of persons resident in the area of benefit who are in need, hardship or distress.
The area of benefit is the ancient parish of Croston (Bispham, Bretherton, Croston, Hesketh-with-Beconsall, Mawdesley, Rufford, Tarleton and Ulnes Walton) with a preference for the ancient township of Croston.
To further the objects the Charity had thirteen almshouses, nine of which each have an internal floor area of between 31.2 and 35.3 square metres compared with the minimum recommended for a single person of 34.0 square metres. The Charity had four recently modernised almshouses two with two bedrooms and two with double bedrooms. The almshouses are maintained in good condition for the use of the beneficiaries.
The weekly maintenance contributions received from the almshouse residents were used to cover the cost of insurance and general maintenance as well as to provide funds for periodic upgrades, improvements and refurbishments.
Following advice, all the assets were transferred to a newly constituted Charitable Incorporated Organisation charity (Croston Almshouses Charity) on 1 January 2024 in accordance with the transfer document. The new charity has the same objectives and responsibilities for the upkeep of the Almshouses but in a more modern structure.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Charity follows The Almshouse Association's "Standards of Almshouse Management" and has issued a Resident's Handbook, based on their example.
The Quinquennial report, undertaken by Bernard Taylor Partnership (BTP) in 2022 on all of the properties highlighted areas where work is required to meet the charities obligations and to meet legal requirements. Work this year has focussed on the major refurbishment of the Shevington Causeway properties, as well as addressing the recommendations from the Quinquennial report as part of a five-year maintenance and improvements programme. This incurred an expense of over £124,000 in the previous financial year leaving limited opportunity for other than urgent works until the maintenance funds are replenished. All of our Statutory Gas and Electrical Inspections are up to date
There have been a number of initiatives on the second and third objects stated above.
## **Investment performance**
Investment Managers advise on the listed investments.
## **FINANCIAL REVIEW**
## **Investment policy and Objectives**
The investments, including the Emergency Repair Fund, were held with the total return (combined income and capital) being of prime importance.
Page 2
## **Croston United Charities**
## **Report of the Trustees for the year ended 30 June 2024**
## **FINANCIAL REVIEW**
## **Reserves policy**
The unrestricted funds were to cover general maintenance and periodic upgrades, improvements and refurbishment of the almshouses and other projects and developments which have yet to be approved in detail.
An Emergency Repair Fund for the almshouses is intended to be maintained in Common Investment Funds (as a designated fund) in line with the recommendations of The Almshouse Association; there is no separate Cyclical Maintenance Fund or Routine Maintenance Provision.
## **FUTURE PLANS**
Following the transfer, the charity will be dissolved in due course and so the financial statements have not been prepared on a going concern basis.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Governing Document was a Charity Commission Scheme sealed on 12 March 2007, the format of which followed the recommendations of The Almshouse Association.
The Charity comprises the following constituent charities:
The Old Almshouses (Croston's Almshouse & Wilson's Charities) The Jubilee Almshouses Mrs Margaret Jackson for Almshouses Mrs Margaret Jackson for the maintenance and repair of Almshouses Poor's Stock (including John Hough & George Norris Charities) William Dandy Thomas Norris
The trustees comprised:
|3|Ex officio|- the Rector and Church Wardens of St Michael's and All Angels, Croston;|
|---|---|---|
|3|Nominated|- appointed by Croston Parish Council (the person need not be a member of the|
|||Council) for a period of four years; and|
|4|Co-opted|- for a period of five years.|
Mr BRP Paillusson and Mrs SJ Myers resigned as nominated trustees on 6 October 2023 and 24 June 2024 respectively.
Mr P Fenemore was appointed as a nominated trustee on 6 October 2023.
The term of office as co-opted trustee of Mr M Driver was extended for a further term on 12 March 2024.
## **Related parties**
There are no related parties.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 3
**Croston United Charities**
## **Report of the Trustees for the year ended 30 June 2024**
Approved by order of the board of trustees on 1 April 2025 and signed on its behalf by:
AC Marston - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of Croston United Charities**
## **Independent examiner's report to the trustees of Croston United Charities**
I report to the charity trustees on my examination of the accounts of Croston United Charities (the Trust) for the year ended 30 June 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
JFD McMillan FCA
McMillan & Co LLP Chartered Accountants
1 April 2025
Page 5
## **Croston United Charities**
## **Statement of Financial Activities for the year ended 30 June 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Almshouses
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Almshouses
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
10
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
**25,485**
**70**
**1,000**
**26,555**
**21,782**
**14,299**
**36,081**
**-**
**(9,526)**
**1,674**
**(7,852)**
**7,852**
**-**|Endowment
fund
£
**-**
**1,674**
**-**
**1,674**
**-**
**2,164,878**
**2,164,878**
**2,481**
**(2,160,723)**
**(1,674)**
**(2,162,397)**
**2,162,397**
**-**|**2024**
**Total**
**funds**
**£**
**25,485**
**1,744**
**1,000**
**28,229**
**21,782**
**2,179,177**
**2,200,959**
**2,481**
**(2,170,249)**
**-**
**(2,170,249)**
**2,170,249**
**-**|2023
Total
funds
£
48,370
2,848
-
51,218
145,962
880
146,842
(170)
(95,794)
-
(95,794)
2,266,043
2,170,249|
|---|---|---|---|---|
The notes form part of these financial statements
Page 6
## **Croston United Charities**
## **Balance Sheet 30 June 2024**
|Notes
**FIXED ASSETS**
Tangible assets
6
Investments
7
**CURRENT ASSETS**
Debtors
8
Cash at bank
**CREDITORS**
Amounts falling due within one year
9
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
10
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
funds
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|Endowment
fund
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**2024**
**Total**
**funds**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|2023
Total
funds
£
2,080,145
82,252
2,162,397
1,695
6,997
8,692
(840)
7,852
2,170,249
2,170,249
7,852
2,162,397
2,170,249|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 1 April 2025 and were signed on its behalf by:
AC Marston - Trustee
The notes form part of these financial statements
Page 7
**Croston United Charities**
## **Notes to the Financial Statements for the year ended 30 June 2024**
## **1. GENERAL INFORMATION**
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is 28 Eaton Avenue, Matrix Office Park, Buckshaw Village, Chorley, PR7 7NA.
There are no material uncertanties about the charity's ability to continue.
The presentational currency of the financial statements is the Pound Sterling (£).
The amounts in the financial statements have been rounded to the nearest £1.
The unincorporated charity (Croston United Charities - 236699) merged to become the Charitable Incorporated Organisation (Croston Almshouses Charity - 1202387) on 1 January 2024.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Following the transfer, the charity will be dissolved in due course and so the financial statements have not been prepared on a going concern basis.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
There is no record of the original purchase cost of the tangible fixed assets and the cost of major expenditure (less grants received) on refurbishing the almshouses since 1 July 1986 has been capitalised. Tangible fixed assets are included at market value on the basis of vacant possession.
No depreciation is provided on the almshouses as it is the Charity's practice to maintain these buildings to a high standard and accordingly the trustees consider that the lives of these assets are so long and residual values are such that their depreciation is insignificant.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Page 8
continued...
**Croston United Charities**
## **Notes to the Financial Statements - continued for the year ended 30 June 2024**
## **2. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.
## **Investments**
There is no record of the original purchase cost of the listed investments or the agricultural land. The market value of listed investments at 1 July 1991 has been taken as an indication of cost at that date. Investments are included at market value at the year end, for Common Investment Funds being based on the bid price and for agricultural land on the basis of vacant possession.
## **3. INVESTMENT INCOME**
|Investment assets
Interest|**2024**
**£**
**1,674**
**70**
**1,744**|2023
£
2,679
169|
|---|---|---|
|||2,848|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
Page 9
continued...
## **Croston United Charities**
## **Notes to the Financial Statements - continued for the year ended 30 June 2024**
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Almshouses
48,370
Investment income
169
**Total**
48,539
**EXPENDITURE ON**
**Charitable activities**
Almshouses
145,962
Other
880
**Total**
146,842
Net gains/(losses) on investments
-
**NET INCOME/(EXPENDITURE)**
(98,303)
**Transfers between funds**
2,679
**Net movement in funds**
(95,624)
**RECONCILIATION OF FUNDS**
Total funds brought forward
103,476
**TOTAL FUNDS CARRIED FORWARD**
7,852
**6.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 July 2023
Transfer to Croston Almshouses Charity
At 30 June 2024
**NET BOOK VALUE**
At 30 June 2024
At 30 June 2023|Endowment
Total
fund
funds
£
£
-
48,370
2,679
2,848
2,679
51,218
-
145,962
-
880
-
146,842
(170)
(170)
2,509
(95,794)
(2,679)
-
(170)
(95,794)
2,162,567
2,266,043
2,162,397
2,170,249
Freehold
property
£
**2,080,145**
**(2,080,145)**
**-**
**-**
2,080,145|
|---|---|
The almshouses were valued at 30 June 2006 on the basis of vacant possession by Peter E Gilkes & Company, Chartered Surveyors. Subsequent additions are at cost which the Trustees consider to be their market value. The historical cost was £nil (2023: £499,247).
Page 10
continued...
## **Croston United Charities**
## **Notes to the Financial Statements - continued for the year ended 30 June 2024**
|**7.**
**FIXED ASSET INVESTMENTS**
Shares
Agricultural Land
There were no investment assets outside the UK.
The historical cost of the listed investments was £nil (2023: £65,752).
Investments (neither listed nor unlisted) were as follows:
Agricultural Land
Transfer to Croston Almshouses Charity
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
Net
movement
At 1/7/23
in funds
£
£
**Unrestricted funds**
General fund
**7,852**
**(9,526)**
**Endowment funds**
Permanent endowment
**2,162,397**
**(2,160,723)**
**TOTAL FUNDS**
**2,170,249**
**(2,170,249)**|**2024**
**£**
**-**
**-**
**-**
**2024**
**£**
**12,000**
**(12,000)**
**-**
**2024**
**£**
**-**
**2024**
**£**
**-**
Transfers
between
funds
£
**1,674**
**(1,674)**
**-**||2023
£
70,252
12,000|2023
£
70,252
12,000|
|---|---|---|---|---|
||||82,252||
||||2023
£
12,000
-||
||||12,000||
||||2023
£
1,695
2023
£
840
At
30/6/24
£
**-**
**-**|2023
£
1,695|
|||||2023
£
840|
||||**-**||
Page 11
continued...
**Croston United Charities**
## **Notes to the Financial Statements - continued for the year ended 30 June 2024**
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**26,555**
**(36,081)**
**Endowment funds**
Permanent endowment
**1,674**
**(2,164,878)**
**TOTAL FUNDS**
**28,229**
**(2,200,959)**
**Comparatives for movement in funds**
Net
movement
At 1/7/22
in funds
£
£
**Unrestricted funds**
General fund
103,476
(98,303)
**Endowment funds**
Permanent endowment
2,162,567
2,509
**TOTAL FUNDS**
2,266,043
(95,794)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
48,539
(146,842)
**Endowment funds**
Permanent endowment
2,679
-
**TOTAL FUNDS**
51,218
(146,842)||Gains and
losses
£
**-**
**2,481**
**2,481**
Transfers
between
funds
£
2,679
(2,679)
-
Gains and
losses
£
-
(170)
(170)|Movement
in funds
£
**(9,526)**
**(2,160,723)**
**(2,170,249)**
At
30/6/23
£
7,852
2,162,397
2,170,249
Movement
in funds
£
(98,303)
2,509
(95,794)|
|---|---|---|---|
|||||
|||||
|||||
## **Permanent endowment fund**
The permanent endowment fund is the property of the charity (including land, buildings and investments) which the trustees may not spend as if it were income. The permanent endowment fund must be held permanently and produces an income for the charity.
Page 12
continued...
**Croston United Charities**
## **Notes to the Financial Statements - continued**
**for the year ended 30 June 2024**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 30 June 2024.
Page 13