WOBORNS ALMSHOUSE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Rè8iStered So¢ial Landlord Number.. A4330 Registered Charity Number.. 241102 Contents Pa Charity information Trustees, report TriJstÈÈ rÈsponsibillties Independent Examinerfs reF4)rt Statement of Finanoal ActNlties Balance sheet Notes to the accounts 9-16 Lentells Chanered cenified Accounzas
WoBoRNsAIMSHCLISE cHATy l(*TIoN EXOFF0TRUThffS. The Vicar of Stjohn the Baptist- Rev. james Dudley-smith The VScar of Hoty Trinlty- Rev. D Crouch Mayor of Yeovil Town Councll - Cllr A Kendell (Resigned 05105n0251 Mayor of Yeovil Town Cnd1 Cllr Tony Lock IAppointed 06105120251 Chairnian of the Yeovil Without Par15h Councll Stickland Cllr R NcthqiNAIIVETRumES: Olrj Lowery Cllr A Kendell (Appointed 06105120251 Captsln D Parsons (Appolnted 13105120261 CwrATNETRusfEES'. Mr M Roper Mr D Recardo PR1pAlADDRESs. Bond Street, Yeovil, Somerset, BA20 IPF CLERK Miss AJ Card REGisfEFED CHMurY NUMBER: 241102 REGlSfEAEO sooLIN1)lORD. A4330 REPORTINGAccouNTArits: Lentèlls Chartered Certified Accountsnt5 & Registered Auditors 17-18 Leach Road, Chard BUSIne Park Chard, Somerset. TA20 IFA BANKEIS: Co-operatwe Bank plc PO Box 101, l Balloon Street Mah¢Ster, M60 4EP
WOBORNSALMSHOLISE TRUSTEEgAN14UALREPORT FOR THEYEAA ENDED 31 DÉCEMBER 2025 The Trustees present their annual report and financial Statements of the ¢harity for the year to 31 December 2025. The financial statements have been prepared in accordance with the accounting polities gÈt out in thè notès to the accounts and comply wrth the charl5 governing document. the Housing Act 2004. the Charities Act 2011, the Charities Statement of Recommended Practice IFRS 1021 Accounting & Reporting by Charities as updated by bulletin l and the Housing Statement of Recommended Practice 2018 for Règistered Social Landlords. StrtUre èrnance and mana ment The charity was established under a scheme prepared by the Charity Commission dated 7 February 1973. It is registered with tho Charity Commission, number 241102 and is a Registered Social Landlord. number A4330. Voluntsry trustees administer the Charity and the clerk carries out day to day administration. The Board of Trustees consists of those wmpetent persons as listed on page l. The board of trustees when complete shall consist of 12 competent person5. The ex-offi'cio trustee5 hold particular role5 in the local community as noted on page i. rhe Yeovil Town Council appoints the nominative trustees annually. The co-optative trustees are person5 who through residence, occupation or employment, or otherwise have special kTr)wledge of the area of the ancient Parish of Yeovil appolnted for a teim of flve years by a resolution of the existing trustees. The trustee5 meet regularty- The information contsined on page i fom)s part of this report. ves and actlvltles The obje¢t of the tharity ts to provide almshouses for poor persons who (expt in special case5 to approved by the commissk)nÈr%l have resided in the area of the ancient parish of Yeovil for not less than 5 years. Woborns Almshouse is a two-storey structure consisting of 8 units for poor residents in the Yeovil community. Achlevements and rformance InclLKlln ans for the future During the year, the chaty contlnued to provlde and maintsin eight residential units for individuals in need within the Yeovil community. Voi(14 arise where Individual unlts a unoccupied for part of the year and are detsiled in note 2 to these accounts. For 2025. volds totslled £5.08012024.. £01. representing an average of 0.76 vacant units during the year12024.. 01. This intrea5e was attributable to one resident passing away and another vacating their accommodation. No write-offs We approved by the trustees this year12024'. £2,318 relating to the deceased residertl. The charity aims to maintsin lull occupancy of its units wherever possible in the COh)ing year. However thi5 may not alway5 be achievablè due to changes in residency and the need to carry out redecoration and maSntenance between tenancies.
W£1j$AthlsmoV$E TRusfEE5' ANNUALREPORT During the year, the charity commissioned a revaluation of its property. vwhh $Yed in a favourable increase from £380,CQO to £625.000. There were no tommitments entèred into during 2025 or after the yearend that you need to be made aware of. Flnanclal revlew and )ncem The attached financial statements Show the current state of finances which the Trustees conslderto be sound. The net income exeded expenditure for the year by £8,38912024= expendtture exceeded income by £24,135) bèfore othergalns and losses. Fixed assets investments, which match the designated funds wtthin unrestrirted reserves, consist cf a 5pecialised Almshouse unlt trust managed by M & G. These invegtment5 have been earmarked for the Cycllcal Maintenance Fund. No aildltional unbts were bought or sold during the year. The unrealised Bain on revaluation was £11,423 12024 no additional units bought, but there were sales of £45.C( with a re31ised galn of £2,540 and an unrealised gain ¢n reva5uation of £5,171). Freehold land and bulldings were last revalued on 6 August 2025 by professlonal external valuers, Symonds & Sampson and the buildings have since beet) depreciated in a¢cordan¢e with the accounting policies. The next 5-year cyclical revaluation of the freehold land bulldinss Is due to takÈ place in 2030 in accordance with the recommendations of FRSIO2. The Surplus of incorne over expenditure for the year after transfefs and othèr recognlsed 8alns and losses was £306.53912024: deficlt £16,4241. The trustees are of the opinion that the charity is a going concern based on their reserves and Investment policy. Reserves and investment li The income stream of the charity can be calculated with reasonable cèrtainty based on ottupation of the premises. The trustees have taken the view to retsin the Alm5hou5e fixed a55et investment funds of £81,C6912024.. £69,646) for the long term in case the buildirbg should need unexpected repalrs or the Income stream dips and they need to service the current loan borrowed to refurblsh the property. The charrty Is not concerned about major new refurbishment of the building in the near future and there are n¢ borrowings. The Trustees believe that the current level of unrestricted reserves £731,742 12024- £427,112) held bythe tharitv 15 appropriate.
WoBOPN5AwoL TRUSTfEgANNUALREPOAT FOR THEYEAR ENDED31 DECEMBER2025cthyTIMVED Risk Mana emènt The Trustees actively review, on a regular basis, the major risks, both financial and operational, which the charity potentially fates. The building is ancient and built primarily of Yeovil Stone which crumbles easily. A view of that Issue 15 expressed every five years in the five-year review. Reserves need to be kept in place to cover this contingency. Those reserves are monitored each quarter. For some reason, it is taking l¢nger to fill vacancies. so we need to be prudent with our voids provlsion and to keep the annual weekly maintenance contributions to a sensible level. A relationship has now been established with the Local Authority and they are notified of vacanclès to estsblish whether there is anyone who fulhls the criteria of residency that could benefit from residing at w0M5 Almshouse. Public Benefit The Charities Act explicitly includes "Public Bènefiv in the dèfinition of -charitable Purpose". The Trustees believe that Woborns Almshouse meets this requirement. It provides an Almshouse for poor person5 who reside in the Yeovil area, provIng a much needed accommodation to support the lo¢al communlty. Signed by a member of the board of trustees Signed & Dated (Trustee) PRINT NAME MR DAVID RECARDO
WoBoRNsALMSHOUSE STATEMEMfoFTR The trustee5 are re5pon5ible for preparing the flnancial statements in accordance with applicable law and Charites SORP IFRS1021. ApplScable law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the charl5 financial artNitie5 during the year and of its financial position at the end of the year. In preparing those financial statements the trustees are required to.. select 5Uitable accounting poficie5 and then applythem ¢onsi5tently,' bl make judgements and e5timate5 that are reasonable and prudent,. 5tste whether applicable accounting stsndards an(J statements of recommended practice have been followed, subjert to any departures disclosed and explalned in the finantial statemènts: and dl prepare the financial statements on the going concern basis unless It Is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accountlng retords which disckjse with ieasonable accuracy the financial position of the charity and which enable them to ensure the financial ststements comply with the Charities Act 2011, the Houslng Act 2CQ4, the Charities Statèment of Recommended Practice IFRS 1021 Accountfing & Reportlng by Charities and the Housing Statement of Recommended Practs"ce 2018 for Registered Social Landlords. They are also responsible for safeguarding the a55ets of the charity and hence for taking rea50nable steps for the prèvention and detertion of fraud or other irregularltles.
WoBORNsALMSHOUSE INDEPENDENrExAMINER'S REPORTTOTHETRU5TEESOF Wo8ORNsALM5FM)U5E I report to the Trustees on my examination of the accounts of Woboms Almshousè for the year ended 31 December 2025 set outon pages 7 to 16. Res nslbllltles and ba55s of re A5 the charity Tru5tee5 of Woborns A1rn5knuse you are responsible for the pParatIon of the accounts in accordance with the requirements of the Charitie5 Aci 20111'the Arfl. I report in respert of my examrnation of the Trustees. accounts carried OLrt under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dlrections gfven by the Charity Commissioner under section 14515llbl of the 2011 Act. Inde ndent eJ(aminers' st*ement I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examlnation giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 130 of the Act: or the accounts do not accord with those record5- or the a¢counts do not comply with the applicable requlrements concerning the tomi and content of accounts set out in the Charitie5 IAccounts and Reportsl Regulations 20CYd other than any requirement that the accounts give a 'true and fair view, which is not a matter consKlered as part of an independent examination. 21 31 I have no ¢on¢erns and have come across no other matters in connettion with the examination to whi¢h attention should be drawn in this port in order to enable a proper understanding of the accounts to be reached. Signed & Dated 29 June 2026 Name.. Mr RJ Wegner Relevant professional qualification.. FCCA Fim.. Lentells Limrted. Chartered Certified Accountants Addre5s'. 17-18 Leath Road, Chard Businèss Park, Chard, SDmerset. TA20 IFA Firm's professional body.. ACCA
STATEMENT OF FINANOALAcrMTIES TH 2025 Total fvnd5 Unre5tr1cted 2024 Trtal funds Unrestrfrted INCOME & ENtrfXVMEfll5FROM 11,21 Charitable actlvSties Investments 53,480 56,242 Total Income 53,480 56.242 ExpENomJREON 11,31 Charitable aciivities 145,0911 180.3771 Totsl expendSture 145,0911 180,3771 Net Income/lexper#llturel before Investment 8alnsl(lossÈsl 8.389 124.1351 Net gain5lllossesl on investments 11,61 11,423 7,711 Other recoBnlsed galnslllo4esl Gains and Ilossesl on raluatIOn of fixed assets for the charrtvs own use ii.si 286,727 Net mo¥ement In funds 306,539 116,4241 fteconciliatSon of Funds Total funds brought forward 427,112 443.536 Total funds carrled lor4¥ard 733,651 427,112
WOBORNSALMSHOUSE BALANCESHEET ASAT31 DECEM8Eft2025 2025 2024 Notes Ftxed assets Tangible assets Investments 621,224 81,069 338,304 69,646 161 Totolfed0$5ets 702,293 407,950 Current assets Debtors Cash at bank and in hand 171 181 766 34,957 1,706 23.554 Totolcurrentas5ets 35,723 25,260 Liabilitles Creditors- amounts falllng due within one year 191 14,3651 16,0981 Plet current ossetsor Illobllltlesj 31,358 19.162 Totalassets lesscuirentll(wblHtles 733.651 427,112 Creditors- amounts falling due after one year Totalnetassets 733,651 427,112 The funds ol the charity Unre5trlrted Income fund5 iioi 733,651 427,112 Total tharityfunds 733,651 427,112 These account5 were approved b e Twstees on 241og 1026 Signed Truste PRINT NAME MR DAVID RECARDO Signed Trustee PRINT NAME MR MANFRED ROPER
WoBoRMSAtMSMOUSE N07ESTOTHEACCQUNf5 FOR THE YEAR ENDED310ECEMBER2025 AccouNTING POllEs GENERAL The financial statements have been prepared under thp historical c05t convention a5 m0dffjd by the revaluation of the freehtsld property and investments. The financial statements for the year ended 31 December 2025 are prepared In accordance wlth the Charities Statement of Recommended Prarti¢e IFRS1021 on A¢courbtin8 and Reporting by Charities as updated by bulletin I, the Financial Reportin8 Standard applicable in the United Kingdom. the Charities Art 2011, the regulator of soclal IKusing accounting directlon 2022 and the Housing Statement of Remmmended Practice 2018 for Registered Social Landlords. The charity is a public bènefit entity and there are no material uncertainties about the haritrf5 ability to continue a5 a going concern. Under the Charlties SORP IFRS 1021 as updated by bulletin I, the charity is exempt fr(An preparing a cash-flow ststement. INCOME & ENOOWMENTS FROM rnations & Le a Income Is induded in the statement of financial activities ISOFAI when tt 15 receNed by the charity. abl Investment Income is included in the SOFA when it is receivable bythe tharlty on the accruals basis. an Intan 'ble income incorporating the value of SeIce5 provided by volunteers has not t*en included in the 3c¢(wnts on the basis that no financlal costs are bome by anv party. Restricted income given for a specific purpose is shown separatèty in the SOFA. Currently there are m restri¢te(l fvnd5. comi ourc have been induded gross wfthln the SOF There has been no netting off of expenditure and no deferral of income. FUNDS Restrlcted fu are to be used foi a speclfic purpose as laid down by the donor. Expenditure which meet5 these criteria is charged to the fund. There were no restricted funds durinB theyear.
WoBoRNsALMSbKIUSE NOTESTOTME AccoufiT5 COPITIN FOR THÈ YEAR ENDED 310ECEMBER202 ÉD AccouNnNG PQUCIES continued De51 nated funrk are unrestrtcted funds eam)arked by the trustees for particular purposes. The fund Currentty designated is the Cyclical maintenan Fund ICMFI. Details of these funds are 5ummarised in Notès 6 and 10. EXPENDITURE ON nses are recognised by activity on an attruals basis. The charivs current actlvty is the unrestrirted provision of 8 units of accommodation for poor residents in the Yeovil area. FIXED ASSErs Tan 'ble assets and de reciation The charty's freehold land and buildings are included in the balance sheet at deemed cost using a depreciated revaluation in accordance with the Charities SORP IFRS 1021. Future revaluatlons of the freehold land and buildings are planned every S years on a cyclical basi5 in at¢ordan¢e with the recommendations of FRSIO2. The trustees have carried out an impaiment revlew of assets under FRS 102 and consider that the carrying values shown in the accounts are at least equal to recoverable amount. Other fixed assets are capitalised at cost wheie theli purchase prlce eXedS £5CM). Depreciation 15 provided at rates cakulated to write off the cost of each asset over its experted useful life, as follows., Freehold land- not depreciated Freehold buildings- 2% straight line basi5 Fixtures fittinRS and equipment- 20% reducing balance basis Investments All investments held by the chartty are invested in comnw)n in¥e5tment fijnds. Thèy are included in the balance 5h¢et at their market value. Income from these nvestments is shown as part of the unrestricted income fund under investment intome when it is received. Unrealised gains or losses arising on Investments are shown separately in the Statement of Financial Activities as unrestricted fijnds. io
WoBoHNsALMSKIJ5E NOTESTOTHE KCOUNfsc014TINUED ANALYSSOF INCIYAE& ENDOWMeNTSFROM 2024 Totsl funds Unreslrl¢ted Total funds Unrritted Charftable artlvltle5 maintenan & service charges of Almshouse unlts Bad debts written off 53,480 58,560 12,3181 53,480 56.242 Investments Dividends received from common Investment funds TOT 53,480 56,242 Tumover for the year was £53.48012024 £56,242) and represents the total amount derlved from the provislon of seNice5 and interest received and is stated after discounts and bad debts wrfitten off and is indusNe of VAT. Analys15 of malntenance & s•Thlc• charges of the Alm$h<se unlts:_ Rent recèNable se1 charges 39.504 19.056 39,504 19,056 Gross charges 58,560 58,560 Bad debts wrltten off Voids 12,3181 15,0801 Net charges tee 53,480 56,242 li
WOBORNSALMSHWSE NOTESTOTHE AccouNfs copm14UEO YEAR E ANALYsoF ExpENfxTURE ON 2025 2024 Total fund5 Unrestrlcted Total fund5 Unrestrfcted Charstsble actlvltle5 Council tax Insurance Property maintenan Gardening Window cleaning Electricity Water Propety depreciation Fixtures, Fittings and Equipment depreclation Coop loan interest Accountancy services Independent examination Accounts preparation Legal and professional fees Almshouse subscription Sundry expenses 922 1,509 13.455 486 1,320 15,807 1,823 3,801 1.526 35.468 672 1.380 29,517 1,827 5,700 1181 331 866 1,840 1,980 353 941 930 1,902 343 773 TOTAL 45,091 80.377 NSFeps EE During the yearthere were notransfers between funds. 12
WoBORNSAthwuSt NoTESTOThE Accour4rscoNmNUED TANGIBiEA55EfS Land Bulldlngs FF+E Total Cosi ty ¥aluatlon At bÈEinning of the year Revaluation 95,0 285,TrJO 61,250 183,750 1,734 381,734 245,CO) At end of the year 156,250 468.750 1,734 626,734 Deprec5atlon and Impalmients At beglnnlng of the year Depreciatlon ellminated on rèvaluatlon Depreciation 41,727 141.7271 1,703 43,430 141,7271 3,801 3,807 At end of the yèar 3.801 1.709 5,510 Net book value at beginnlng of the year 95,(KK) 243,273 31 338.304 Net book value at end of the year 156,250 464,949 25 621,224 The charit¢5 fixed asset5 are used solely for the direct furtheran¢e of the charity'5 objertives and are let to poor peon5 in the Yeovil area. The orOOnal cost of the Ah)shouse is unknown: however. It was bullt in 1860 on a site aladY owned by the trustees following the previous Almshouse building behind Pall Inn, Silver Street falling into a dilapldated state. The freehold land and bvlldings were lèst revalued on 6 August 2025 at an investment value of £650,CQD by external professional valuers, Symond5 & Samp50n and the buildings have since been depCiated. The charity follows a 5-year cytlical revaILtIon of the freehold land buildirw. The next revaluation is due to tske place in 2030 in xcordan¢e with the Trcommendations of FRSIO2. The Housing Corporation would need to be consulted should the trustees wish t¢ consider the charity moving premises, as a grant from public funds w35 received for refurbishment of £142,301 durin8 2(M)2 and 2CX)3. 13
WoBoRNsALMSHDUSE NoTESTOTHEAcciJvfiT5CQMtINUED HE EARE OE l investments held are in M & G Investments The National AssociatIc of Almshouses Common Investment Fund Anatysls of change durlng the year: Cairying value (market value) at beginning of year Disposals of investments at Cost Realised net gain /110551 on disposals Net gain I110ss1 on revaluation 69,646 11,423 Carrying value Imarket value) at end of year 81,069 Historic $t at end of year Unavailable Attumulation fund 575.246 Market value at beginning of year Sold 69.646 Realised gainlllos51 Unrealised gain/llossl 11,423 575.246 Market value at end of year 81,069 The trustee5 have designated the accumulation common investment funds for Specifi use as follows... 2025 2024 Cycllcal Malntenance Fund ICMFI 81,069 69,646 81,069 69,646 DEBTORS Trade debtors Prepayments 611 1,095 766 766 1,706 14
WottoRNsALMSHOUSE NOTESTOTHE AccoufiTS coimNUED AT8ANK AIIDIN HAIID 2025 2024 Q)sh at bank 34.957 23,$54 CREDffORS-amounts falling due within one year 2025 2024 Charges in advance Accruals Co-op loan 28 4.337 28 6,051 19 4.365 6,(Y38 io SUMMARY OF NEfA55EfS BY FUNDS Fund name Fund balan brought forward Income Expendlture Transleys Galns and losses balan5 carrled fonmard Unrestrlcted Income fund 427,112 53,4 145,0911 298,150 733.651 Within unrestricted funds the trustees have established a deslgnated fund amountlnB to £81,06912024'. £69,946) as detailed In Note 6 above. li TRVSTEES. AND EMPLOYEE< REMUNERAT¥ ANO EXPENSES Durlng the year no remuneratlon or expenses were paid to any employees or trusteès. Out of pocket expènses incurred in the nomial course of business were reimbursed to the clerk. 15
WoBORNsALMSHOiISE NoYesTOTHE ACCOUNfSCONT114UED FOR THEYEAR EIIDED31 DECEMBER2025 12 RETED PARTYTrANSACf*)NS There were no related pattr transactions during the year. 13 AL tTM The were no financial commitments arising during the year or zt theyear end. 16