THE ROGER EDWARDS ALMSHOUSES CHARITY
FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025
THE ROGER EDWARDS ALMSHOUSES CHARITY FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025
CONTENTS
| Legal and Administrative Information | 2-3 |
|---|---|
| Trustees Report | 4-6 |
| Independent Examiner’s Report | 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Accounts | 11-12 |
1
THE ROGER EDWARDS ALMSHOUSES CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Status
The scheme was set up by the Charity Commissioners in 1862 and has been amended several times, the last being on 3 April 1998.
It is one of many Almshouses Charities that belong to The Almshouse Association.
Trustees (Management Committee)
Kathryn Clarke (Chairperson) Dr. Rebecca Jane Hughes Richard Paul Lewis Paul Pavlos Ntjortjis (Treasurer) Linda Eileen Savage Priscilla Greenland Rev. Sally Ingle-Gillis (ex-officio) Kenneth James Hart Isobel Brown John Pask Ellie Hawkins
Secretary and Almshouses Manager
Richard Baker
Principal Address
Red House Llangeview Usk NP15 1NE Tel: 01291 673367
Charity’s Independent Examiner
Brenda Davies 9 Sycamore Close Hanham Bristol BS15 3TL
2
Charity’s Bankers
The Co-operative Bank p.l.c. 1 Balloon Street Manchester M4 4BE Tel: 03457 213 213 HSBC Bank plc (Account Closed 10[th] April 2025) 35 Gwent Square Cwmbran NP44 1XL Tel: 0345 740 4404
Monmouthshire Building Society John Frost Square Newport NP20 1PX Tel: 01633 840454 Virgin Money 7 Gold Street Northampton NN1 1EN Tel 0800 3457 365
Charity’s Solicitor
Bevan Brittan Kings Orchard 1 Queen Street Bristol BS2 0HQ Tel: 0370 194 1000
Charity’s Chief Adviser
The Almshouse Association Leonard Hackett House 17-21 Victoria Street Windsor Berkshire SL4 1HE Tel: 01344 452922
3
THE ROGER EDWARDS ALMSHOUSES CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their report together with their financial statements for the year ended 31 December 2025.
Activities
The Charity exists to provide low cost rural housing to local people, primarily those in the Parishes of Llangwm, Gwernesney and Llangeview. The Residents are not tenants of the Charity. They ‘Occupy by License’ and pay a Weekly Maintenance Contribution. Each resident has to pay his/her own electricity and Council Tax. The Charity pays their water and sewage charges.
The Weekly Maintenance Contribution (WMC) for the five two-bedroom dwellings was £79 at the start of the year. The WMC for the converted wash-house was £66 at the start of the year. The Trustees agreed not to increase the WMC during the year.
One of the residents died at the end of December 2024 but his maintenance contributions continued to be paid (by his executors) into March when the unit was vacated. The Trustees decided to refurbish the unit and consequently it was not reoccupied until July. This resulted in a void of 15 weeks and a corresponding reduction in the maintenance contributions received in the year.
The update of banking arrangements started in 2024 has been completed which has resulted in lower admin costs, increased investment income and strengthened fiscal controls.
Future Plans
The Trustees continue to look for opportunities to utilise surplus funds to improve the facilities offered to its residents, specifically in terms of reducing heating costs. Given the buildings are Grade 2 listed, identifying suitable improvements that are consistent with listed building requirements has been very difficult. In May 2024, the Charity was granted listed building consent to replace existing windows with double glazed units. This work continued through 2025 and is now expected to complete in the first half of 2026. Additional improvements to the buildings have been identified and work scheduled to implement them.
The Trustees have been reviewing the charity’s governance and structure. In 2024 the decision was taken to transition the charity’s structure from an unincorporated charity to a Charitable Incorporated Organisation (CIO). A constitution and bylaws were drafted and these were agreed by the Trustees in December 2025. The intention is to submit these to legal review before submitting to the Charity Commission in the first half of 2026. To strengthen overall governance a number of policies have been reviewed or created in line with guidance from the Almshouse Association and this work should complete in 2026. All policies will be periodically reviewed to ensure they remain fit for purpose.
4
Reserves Policy
Accumulated surplus income is retained to meet future maintenance and improvement costs of existing accommodation.
Investment Policy
Funds, which are surplus to short term requirements, are placed on deposit preparatory to meeting commitments as they fall due.
Risk Review
The management committee has conducted its own review of the risks to which the Charity is exposed and systems have been established to mitigate those risks. Risks are minimised by the implementation of procedures for authorisation of all transactions and projects. These procedures are periodically reviewed by the management committee.
Responsibilities of the Trustees
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year.
In preparing those financial statements, the trustees should follow best practice and:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare for financial statements on the going concern basis unless it is inappropriate to assume that the Charity will continue on that basis.
The trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charity Commission. The trustees are also responsible for safeguarding the assets of the Charity and hence for taking responsible steps for the prevention and detection of fraud and other irregularities.
The Trustees have reviewed the charity's financial position, including a review of the cash flow forecasts for the next 12 months, and have assessed the impact of current economic conditions. Based on this review, and the availability of reserves, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Members of the Management Committee
The management committee consists of the trustees of the Charity, as laid out on page 2, and Richard Baker, the Secretary and Almshouses Manager.
All trustees work voluntarily and the management committee meets once every two months or more regularly as required.
5
IndL Indcni F.xarniner ..Iii indipLndLnt cxamincr w'as appointed due to the income for the year excceding the Ihresl?old of£2) 000. This report has becn prepared in accordance with the g¢neral Directions given b> the Charity Commission. .Approi ¢d bi the trustee5 and signed on their behalf by-. Date..
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROGER EDWARDS ALMSHOUSES CHAIUTY I report on the accounts of Roger Edwards Almshouses Charity for the year ended 31 December 2025. Respective responsibilities of tru$tees and examitt¢r The chaTity's trustees 8r¢ responsible for the preparation of the accounts in accordance with the Charities Act 2011 (the'Act'). The charity's trustees eonsider that an wjdit is not r¢quired for this year und¢r section 144 of the Act and that art independcnl exarnination is needed. It is my responsibility to.. examine the Accounts under section 145 of the Charities Act, to follow the applicable Dircctions given by the Charity Cornmi55ion (under section 145(5Kb) of the Act, and to state whether particular tnatters have Come to my attention Basis of indepeDdent examlner's report My examinaiion w8S C8rried out in accordance with the general Directions given by the Charity Commission. An examination includes a revicw of ihe accounting records kept by the charity and a comparison of the accounLs presented with thosc records. It also includes consideration of any unusual iterns or di5cIosuTes in the accounts and seeking explanAtions from you a5 trustees concerning any such matterg. The procedures undertskcn dts not provide the evidence that would be required in an audit and. consequently. no opinion is giv¢n as to wh¢ther the accounts present a'true aT)d fair, view and the report is limit¢d to th95e matters sel out in the statement below. Independent examiner's statement In connection with my examination. no matters have corne to my attention which give me cause to believe Ihat, in any material respc¢t- th¢ ac¢ounting r¢cords wetr not kept in accordance with section 130 of the Charities Act,. or the accounts did not accord with the abcounling record5. or Ihc accounts did not cornply with the applicable requirements concerning thc form ar]d ront¢nt of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requiretnent that the a¢¢ounts give a 'true and fair, view which is not a matter considered Lq part of an independent examination. I have no concerns and have come acr055 no other matters in connection with the examinatton to which attention should be drawn ill this report in order io enable a proper undersianding of the accounts io be reached. Date.. Namc: Br¢nda Davies
THE ROGER EDWARDS ALMSHOUSES CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| Note Incoming Resources Maintenance contributions Investment income Income from fundraising Other income Total Incoming Resources Resources Expended Direct charitable expenditure 2 Fundraising costs Management & administration 3 Total Resources Expended Net Incoming Resources for the year Unrealised profit/(loss) on revaluation of investment properties Transfer to Extraordinary Repair Fund Transfer to Cyclical Maintenance Fund Transfers to Accumulated Fund Accumulated Funds Balances brought forward Net transfers for the current year Balances carried forward |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2025 2025 2025 2024 £ £ £ £ 23,064 - 23,064 23,755 4,950 - 4,950 3,342 - - - - 60 - 60 - |
|---|---|
| 28,074 - 28,074 27,097 |
|
| 4,036 1,849 5,885 29,202 - - - - 4,354 - 4,354 3,727 |
|
| 8,390 1,849 10,239 32,929 |
|
| 19,684 (1,849) 17,835 (5,832) - - - - (3,912) 3,912 - - (6,396) 6,396 - - |
|
| 9,376 8,459 17,835 (5,832) |
|
| 398,724 55,322 454,046 459,878 9,376 8,459 17,835 (5,832) |
|
| 408,100 63,781 471,881 454,046 |
8
THE ROGER EDWARDS ALMSHOUSES CHARITY
BALANCE SHEET AS AT 31 DECEMBER 2025
| Note Fixed Assets 4 Current Assets Bank account Building society account Debtors and prepayments Current Liabilities Residents Bonds Other creditors Current Assets less Current Liabilities Creditors Due After 1 Year Other creditors > 1 yr Financed By: Accumulated Funds: Unrestricted funds 5 Restricted funds 6 |
31 December 2025 £ £ 316,510 10,380 144,119 2,702 157,201 1,778 52 1,830 155,371 471,880 - 471,880 408,099 63,781 471,880 |
31 December 2024 £ £ 317,479 4,981 133,069 1,865 139,914 1,752 1,596 3,348 136,567 454,046 - 454,046 398,724 55,322 454,046 |
31 December 2024 £ £ 317,479 4,981 133,069 1,865 139,914 1,752 1,596 3,348 136,567 454,046 - 454,046 398,724 55,322 454,046 |
|---|---|---|---|
| 157,201 | 139,914 | ||
| 1,778 52 |
1,752 1,596 |
||
| 1,830 | 3,348 | ||
| 136,567 | |||
| 454,046 | |||
| - | |||
| 454,046 | |||
| 398,724 55,322 454,046 |
9
THE ROGER EDWARDS ALMSHOUSES CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
-
1 Statement of Accounting Policies
-
a) Basis of Accounting
The accounts have been prepared in accordance with applicable accounting standards and the requirements of the Charities Act 2011.
- b) Tangible Fixed Assets
Tangible fixed assets are stated at cost or valuation.
Investment properties were revalued as at 31 December 2013 by Parrys with Chris Brain, Chartered Surveyors, on an open market value for existing use basis which reflects the low income generated by the properties due to their use for the charity’s purposes.
The properties are revalued periodically and consequently no provision for depreciation is made and any unrealised gain or loss on revaluation is provided in the statement of financial activities.
Depreciation on fixtures and fittings is provided for on a straight line basis at a rate of 5% per annum.
Depreciation has previously been provided on equipment on the straight line method over the expected useful life of the asset, the provision being 20% per annum.
- 2 Direct charitable expenditure relates to direct costs on let properties as follows:
| Insurance Repairs & Maintenance Electricity Water rates Sewage Depreciation |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2025 2025 2025 2024 £ £ £ £ 1,633 - 1,633 1,107 1,291 1,849 3,140 25,480 -663 - -663 1,214 586 - 586 458 220 - 220 - 969 - 969 969 |
|---|---|
| 4,036 1,849 5,885 29,138 |
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THE ROGER EDWARDS ALMSHOUSES CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| 3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
3 Management and administration expenses are made up of the following: Unrestricted Funds Restricted Funds Total Funds 2025 2025 2025 £ £ £ Legal and professional charges 50 - 50 Honoraria 3,455 - 3,455 Other expenses 849 - 849 Bad debt - - - 4,354 - 4,354 4 Fixed assets: 2025 2024 £ £ £ Investment Properties Balance brought forward 309,000 309,000 Additions - - Profit/(Loss) on revaluation - - Value carried forward 309,000 Fixtures and Fittings Balance brought forward 18,881 19,380 Additions - - Accumulated depreciation 11,371 10,402 Value carried forward 7,510 Office Equipment Cost - - Disposal - - Accumulated depreciation - - Disposal - - Balance carried forward 316,510 |
Total Funds 2024 £ 0 3,304 423 - |
|---|---|---|---|---|---|---|---|
| - | 3,727 | ||||||
| £ 309,000 7,510 316,510 |
£ 309,000 8,978 317,978 |
||||||
| 18,881 - 11,371 |
19,380 - 10,402 |
||||||
| - - - - |
- - - - |
||||||
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THE ROGER EDWARDS ALMSHOUSES CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
5 Unrestricted Funds
| Fund as at 1 January 2025 Movement for the year Fund as at 31 December 2025 estricted Funds Funds as at 1 January 2025 Movement for the year Funds as at 31 December 2025 |
General £ 398,724 9,376 408,100 Extraordinary Repair Fund £ 37,427 2,462 39,889 |
Cyclical Maintenance Fund £ 17,895 5,997 23,892 |
Total £ 398,724 9,376 |
|---|---|---|---|
| 408,100 | |||
| Total £ 55,322 8,459 |
|||
| 63,781 |
6 Restricted Funds
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