| Page | |
|---|---|
| Report ofthe Trustees | It07 |
| Report of the Independent Auditors | |
| StatementofFinancial Activities | 11 |
| Balance Sheet | 12 |
| Notes to the Financial Statements | 13 to 23 |
| Detailed Statement ofFinancial Activities | 24 to 25 |
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | |||||
| INCOME FROM | |||||
| Donations received | 9,350 | 9,350 | 9,350 | ||
| Charitable activities | 2 | 236,469 | 236,469 | 209,506 | |
| Investment income | 3 | 185,758 | 185,758 | 194,183 | |
| Total | 422,227 | 9,350 | 431,577 | 413,039 | |
| EXPENDITURE ON | |||||
| Raisingfunds | 4 | 8,564 | 8,564 | 13,377 | |
| Charitable activities | 5 | ||||
| Charitable activities | 331,746 | 331,746 | 280,555 | ||
| Governance costs | 11,174 | 11,174 | 48,506 | ||
| Grants, Giftsand Donations | 49,859 | 11,923 | 61,782 | 74,028 | |
| Total | 401,343 | 11,923 | 413,266 | 416,466 | |
| Net income/(expenditure) andnetmovement | |||||
| in funds before gains and losses on | 20,884 | (2,573) | 18,311 | (3,427) | |
| Net gains/(losses) on investments | 293,781 | 293,781 | 447,533 | ||
| NET INCOME/(DEFICIT) | 314,665 | (2,573) | 312,092 | 444,106 | |
| RECONCILIATIONOF FUNDS | |||||
| Balance broughtforward | 5,552,093 | 2,573 | |||
| Balance carried forward | 5,866,758 | 5,866,758 | 5,554,666 |
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | |||
| Notes | |||||
| FIXED ASSETS | |||||
| Tangible assets | 11 | 1,027,990 | 1,027,990 | 1,027,990 | |
| Investments | |||||
| Investments | 12 | 3,269,049 | 3,269,049 | 2,966,489 | |
| Investment property | 13 | 750,000 | 750,000 | 750,000 | |
| CURRENT ASSETS | |||||
| Debtors | 15 | 60,359 | 60,359 | 53,903 | |
| Cash at bank and on hand | 808,800 | 808,800 | 807,708 | ||
| 869,159 | 869,159 | 861,611 | |||
| CREDITORS | |||||
| Amounts falling due withinone year | 16 | (49,440) | (49,440) | (51,424) | |
| NET CURRENT ASSETS | 819,719 | 819,719 | 810,187 | ||
| NET ASSETS | 5,866,758 | 5,866,758 | 5,554,666 | ||
| FUNDS | 17 | ||||
| Almshouse Fund | 4,011,125 | ||||
| Relief in Need Fund | 1,799,756 | ||||
| Extraordinary Repair Fund | 55,877 | 94,422 | |||
| TwoFoldTrustFund | 2,573 | ||||
| TOTAL FUNDS | 5,866,758 | 5,554,666 |
| CHARITABLE ACTIVITIES | ||
|---|---|---|
| 2025 | 2024 | |
| Maintenance charges | 181,873 | 163,900 |
| Property income | 54,596 | 45,606 |
| 236,469 | 209,506 | |
| INVESTMENT INCOME | ||
| 2025 | 2024 | |
| Rent received | 72,520 | 72,990 |
| Dividends | 82,167 | 88,253 |
| Deposit account interest | 4,924 | 2,750 |
| Liquidity fund portfolio interest | 26 147 | 30, 190 |
| 185,758 | 194,183 |
| Investment management costs | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Brokers costs | 7,469 | 7,437 | ||
| Property agent fees | 4,680 | |||
| Repairs and refurbishments to property | 1,095 | 1,260 | ||
| 8,564 | 13,377 | |||
| 5. | CHARITABLE ACTIVITIES COSTS | |||
| 2025 | 2024 | |||
| Wardens salaries and pension | 33,757 | 31,643 | ||
| Rates and water | 4,652 | 3,841 | ||
| Insurance | 8,901 | 8,018 | ||
| Lightand heat | 29,729 | 24,728 | ||
| Telephone | 2,018 | 1,975 | ||
| Sundry expenses | 8,394 | 5,117 | ||
| Repairs and refurbishments to property | 100,366 | 174,667 | ||
| Agent fees | 15,742 | 7,170 | ||
| Alarm costs | 4,079 | 3,238 | ||
| Careline costs | 983 | 872 | ||
| Garden maintenance | 75,346 | 19,286 | ||
| Gifts (as stated in note 9) | 26,432 | 16,028 | ||
| Grants and donations (as stated in note 9) | 35,350 | 58,000 | ||
| Governance costs (as stated in note 6) | 58,953 | 48,506 | ||
| 404,702 | 403,089 | |||
| Charitable activities split as below | Almshouses | Relief in Need |
Extraordinary Repairs |
|
| Wardens salaries and pension | 26,955 | 6,802 | ||
| Gifts | 21,959 | |||
| Grants and donations | 27,900 | |||
| Governance costs | 8,922 | 2,252 | ||
| Other charitable activities | 288,362 | 9,627 | ||
| 324,239 | 68,540 | |||
| TwoF01d Trust |
Henry Smith | Totals | ||
| Wardens salaries and pension | 33,757 | |||
| Gifts | 73 | 22,032 | ||
| Grants and donations | 2,500 | 9,350 | 39,750 | |
| Governance costs | 11,174 | |||
| Other charitable activities | 297,989 | |||
| 2,573 | 9,350 | 404,702 |
| GOVERNANCE COSTS | |||
|---|---|---|---|
| 2025 | 2024 | ||
| Clerk and assistant clerk | 30,602 | 39,020 | |
| Accountancy | 17,177 | ||
| Audit fees | 7,200 | 5,400 | |
| Legal andprofessiornl fees | 3,015 | 3,060 | |
| Bank charges and interest | 959 | 1,026 | |
| 58,953 | 48,506 | ||
| Charitable activities split as below | Almshouses | Reliefin Need |
Totals |
| Clerk and assistant clerk | 24,436 | 6,166 | 30,602 |
| Accountancy | 13,716 | 3,461 | 17,177 |
| Audit fees | 5,749 | 1,451 | 7,200 |
| Legal andprofessional fees | 2,407 | 608 | 3,015 |
| Bank charges and interest | 766 | 193 | 959 |
| 47,074 | 11,879 | 58,953 |
| The followinggrantsand donations weremade duri | ng theyear to 31 October: | |
|---|---|---|
| 2025 | 2024 | |
| Education and youth | 27,000 | 49,000 |
| Grants to organisations | 8,350 | 9,000 |
| Christmas VoucherScheme | 17,682 | 12,828 |
| Other small donations | 8,750 | 3,200 |
| 61,782 | 74,028 |
| 10. | STAFFCOSTS | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Wages and salaries | 62,746 | 30,243 | |
| Pensioncontributions | 1,613 | 1 ,400 | |
| 64,359 | 31,643 | ||
| The average monthly numberofemployees during the year was as follows: | |||
| 2025 | 2024 | ||
| Full-time | 2 | 1 | |
| Part-time | 2 | 1 | |
| 4 | 2 | ||
| 11. | TANGIBLE FIXED ASSETS | ||
| Freehold | |||
| Property | |||
| COST | |||
| At I November 2024 and 31 October2025 | 1,027,990 | ||
| NET BOOK VALUE | |||
| At 31 October 2025 | 1,027,990 | ||
| At 31 October2024 | 1,027,990 |
| FIXED ASSETINVESTMENTS | |||
|---|---|---|---|
| Listed | Unlisted | ||
| investments | investments | Totals | |
| MARKET VALUE | |||
| At I November 2024 | 2,966,489 | 2,966,489 | |
| Additions | 206,437 | 206,437 | |
| Disposals | (315,870) | (315,870) | |
| Net gains/(losses) on investments | 411,993 | 411,993 | |
| At 31 October 2025 | 3,269,049 | 3,269,049 | |
| NET BOOK VALUE | |||
| At 31 October2025 | 3,269,049 | 3,269,049 | |
| At 31 October2024 | 2,966,489 | 2,966,489 |
| FAIR VALUE | |
|---|---|
| At 1 November 2024 | 750,000 |
| Revaluations | |
| At 31 October2025 | 750,000 |
| NET BOOK VALUE | |
| At 31 October 2025 | 750,000 |
| At 31 October 2024 | 750,000 |
| The table sets out a maturity analysis oflease payments to be received | after the year end: | |
|---|---|---|
| 2025 | 2024 | |
| Expiring: | ||
| Withinone year | 84,707 | 84,707 |
| Between one and twoyears | 40,645 | 55,350 |
| Between two and five years | 102,900 | 116,745 |
| After five years | 2,610 | 29,410 |
| 230,862 | 286,212 | |
| DEBTORS: AMOUNTSFALLING DUE WITHINONE YEAR | ||
| 2025 | 2024 | |
| Rental debtors | 30,853 | 22,986 |
| Prepayments and accrued income | 25,006 | 26,417 |
| Loans | 4,500 | 4,500 |
| 60,359 | 53,903 |
| CREDITORS: AMOUNTSFALLING DUEWI | THINONE YEAR | |
|---|---|---|
| 2025 | 2024 | |
| Other creditors | 2,813 | |
| Odiham Educational Charity | 5,199 | 4,854 |
| Accrued expenses | 31,983 | 35,082 |
| Deferred income | 12,258 | 8,675 |
| 49,440 | 51,424 |
| MOVEMENT m FUNDS | ||||
|---|---|---|---|---|
| Net | ||||
| At 1.11.24 as | movement in | |||
| restated | funds | Transfers | At 31.10.25 | |
| Unrestricted funds | ||||
| Almshouse | 3,783,581 | 182,544 | 3,966,125 | |
| Relief In Need | 1,674,090 | 125,666 | 1,799,756 | |
| Extraordinary Repair Fund | 94,422 | 6,455 | 100,877 | |
| 5,552,093 | 314,665 | 5,866,758 | ||
| Restrictedfunds | ||||
| TwoFoIdTrustFund | 2,573 | (2,573) | ||
| Henry SmithFund | ||||
| 2,573 | (2,573) | |||
| TOTAL FUNDS |
5 554 666 | 312 092 |
| Netmovement in funds, includ | ed in theabove are a | s follows: | ||
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| Unrestricted funds | ||||
| Almshouse | 365,609 | (329,069) | 146,004 | 182,544 |
| Relief In Need | 56,618 | (72,274) | 141,322 | 125,666 |
| ExtraordinaryRepair Fund | 6,455 | 6,455 | ||
| 422,227 | (401,343) | 293,781 | 314,665 | |
| Restricted funds | ||||
| TwoFold Trust Fund | (2,573) | (2,573) | ||
| Henry Smith Fund | 9 350 | (9,350) | ||
| 9,350 | (11,923) | (2,573) | ||
| TOTAL FUNDS | 431,577 | (413,266) | 293,781 | 312,092 |
| Comparatives for movement in funds (as restated): | ||||
| Net | ||||
| movement in | ||||
| At2.11.23 | ftnds | Transfers | At 30.10.24 | |
| Unrestricted funds | ||||
| Almshouse | 3,473,775 | 309,806 | 3,783,581 | |
| Relief In Need | 1,547,424 | 126,666 | 1,674,090 | |
| ExtraordinaryRepair Fund | 82,788 | 11,634 | 94,422 | |
| 5,103,987 | 448,106 | 5,552,093 | ||
| Restricted funds | ||||
| TwoFoIdTrust Fund | 6,573 | (4,000) | 2,573 | |
| Henry SmithFund | ||||
| 6,573 | (4,000) | 2,573 | ||
| TOTAL FUNDS | 5,110,560 | 444,106 | 5,554,666 |
| Netmovement in funds, includ | ed in the above are | as follows: | ||
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement in | |
| resources | expended | losses | funds | |
| Unrestricted funds | ||||
| Almshouse | 343,093 | (317,953) | 284,666 | 309,806 |
| Relief In Need | 60,596 | (85,163) | 151,233 | 126,666 |
| ExtraordinaryRepair Fund | 11,634 | 11,634 | ||
| 403,689 | (403,116) | 447,533 | 448,106 | |
| Restricted funds | ||||
| TwoFold Trust Fund | (4,000) | (4,000) | ||
| Henry Smith Fund | 9,350 | (9,350) | ||
| 9,350 | (13,350) | (4,000) | ||
| TOTAL FUNDS | 413,039 | (416,466) | 447,533 | 444,106 |
| 2025 | 2024 | |
|---|---|---|
| Balance brought forward | 94,422 | 82,788 |
| Movement during the year | 6,455 | 11,634 |
| Reserve transfer | (45,000) | |
| 55,877 | 94,422 |
| ANALYSIS OF NET ASSET | S BETWEEN F | UNDS | ||
|---|---|---|---|---|
| Net current | ||||
| Tangible | assets/ | |||
| Assets | Investments | (liabilities) | Total fund | |
| Unrestricted funds | ||||
| Almshouse | 1,027,990 | 2,415,643 | 409,528 | 3,853,161 |
| Relief In Need | 1,547,529 | 410,191 | 1,957,720 | |
| Designated funds | ||||
| Extraordinary Repair Fund | 55,877 | 55,877 | ||
| Restrictedfunds | ||||
| TwoFold Trust Fund | ||||
| TOTAL FUNDS | 1,027,990 | 4,019,049 | 819,719 | 5,866,758 |
| Comparatives for analysis ofnet assets between | funds (as restated): | |||
| Net current | ||||
| Tangible | assets/ | |||
| Assets | Investments | (liabilities) | Total fund | |
| Unrestricted funds | ||||
| Almshouse | 2,220,251 | 401,072 | 3,649,313 | |
| Relief In Need | 1,401,816 | 406,542 | ||
| Designated funds | ||||
| ExtraordinaryRepair Fund | 94,422 | 94,422 | ||
| Restricted funds | ||||
| TwoF01d Trust Fund | 2,573 | 2,573 | ||
| TOTAL FUNDS | 1 027 990 | 3 716 489 | 810 187 | 5 554 666 |
| 2025 | 2024 | |
|---|---|---|
| INC0ME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations received | 9,350 | 9,350 |
| Investment income | ||
| Rent received | 72,520 | 72,990 |
| Dividends | 82,167 | 88,253 |
| Deposit account interest | 4,924 | 2,750 |
| Liquidity fund portfolio interest | 26,147 | 30,190 |
| 185,758 | 194,183 | |
| Charitable activities | ||
| Maintenance charges | 181,873 | 163,900 |
| Property income | 54,596 | 45,606 |
| 236,469 | 209,506 | |
| Total incomingresources | 431,577 | 413,039 |
| EXPENDITURE | ||
| Investment management costs | ||
| Brokers costs | 7,469 | 7,437 |
| Property agentfees | 4,680 | |
| Repairsand refurbishments to property | 1,095 | 1,260 |
| 8,564 | 13,377 | |
| Support costs | ||
| Management | ||
| Wardens salaries andpension | 33,757 | 31,643 |
| Recruitment fees | ||
| Rates and water | 4,652 | 3,841 |
| Insurance | 8,901 | 8,018 |
| Lightand heat | 29,729 | 24,728 |
| Telephone | 2,018 | 1,975 |
| Sundry expenses | 8,394 | 5,117 |
| Repairs and refurbishments to property | 100,366 | 174,667 |
| Property agentfees | 15,742 | 7,170 |
| Alarm costs | 4,079 | 3,238 |
| Careline costs | 983 | 872 |
| Gardenmaintenance | 75,346 | 19,286 |
| Gifts | 26,432 | 16,028 |
| Grants and donations | 35,350 | 58,000 |
| Revaluationsto property | ||
| 345,749 | 354,583 | |
| Finance | ||
| Bank chargesand interest | 959 | 1,026 |
| 2025 | 2024 | |
|---|---|---|
| Governance costs | ||
| Clerkand assistant clerk | 30,602 | 39,020 |
| Accountancy | 17,177 | |
| Audit fees | 7,200 | 5,400 |
| Legal and professional fees | 3,015 | 3,060 |
| 57,994 | 47,480 | |
| Total resources expended | 413,266 | 416,466 |
| Net income/(expenditure) before gains and losses | 18,311 | (3,427) |
| Realised gains/(losses) on fixed asset investments | 617 | 2,776 |
| Unrealised gains/(losses) on fixed asset investments | 293,164 | 444,757 |
| 293,781 | 447,533 | |
| Net income/(expenditure) | 312,092 | 444,106 |