CHARLES EDWARD SUGDEN'S ALMSHOUSES
ANNUAL REPORT AND FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Chaiity Registration Number: 243833
Homes and Communities Agency Number. A3990
Almshouses Association member No: M1012

CHARLES EDWARD SUGDEN'SALMSHOUSES
ASSOCIATION INFORMATION
Trustee
Abbeyfield the Dales Limited
Chartty number
243833
Homes and Communities Agency Number
A3990
Almshouses Association Member No
M1012
Principal Address
Grove House
12 Riddings Road
Ilkley
Leeds
LS29 9BF
Auditor
A2ets Audit ServicEs
Cadton House
Grammar School Street
Brddford
BD14NS
BD14NS
Bankers
Barclays Bank PLC
Lèicester
United Kingdom
LE87 2BB
Unty Trust Bank PIC
Nine Brindleyplace
4 Oozells Square
Birmingham
B12HB

CHARLES EDWARD SUGDEN'S ALMSHOUSES
CONTENTS
Page
Board Report
Trustee's responsibiEties statement
Independent auditols report
Profit and loss account
Balan￿ sheet
ststement of changes in equity
Noles to the financial statemenls
10-16

CHARLES EDWARD SUGDEN'S ALMSHOUSES
TRUSTEE REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustee presents its report 2nd finanual statements for the year ended 31 March 2025
Objectives and activities
Charlés Edward Sugden Almshouses is a not-for-profft registered charty, and it is also 8 registéred social
housing landlord.
Achievements and perforniance
Financial review
Durtng the year the charity generated income of £40,679 (2024 - £37,231): The flats have been fully o¢¢upied
throughout the year and remained full at year end. As part of the 0￿gOIng programmé the remaining refurbished
flats will be completed as and when a flat becomes void.
Total expenditure was £45,112 (2024 - £39:067) with the increase due to cu￿ent economic inflation and
additional works to the grounds and fire safety measures.
There was a net oufflow of resources for the year of £(80) (2024 £2,017 nel inftow of resource). The total
reserves as of 31 MarL* 2025 stands at £369,206 (2024 - £369,286).
Reserves Policy
It is the policy of the charity that unrestricted reserves which have not been designated for a specific use are
earmarked lo fund major repairs as identified by previous and fvture quinquennial surveys and lo provide a buffer
in the event of any unforeseen expenditure. The Trustee considers that this will ensure that, in the event of a
significant drop in net incoming reSoUr￿s, they will be able to continue the charTVs current activities while
consideration is given to ways in whith additional income or fvnds may be raised. This reserves policy has been
maintained throughout the year.
Risk Management
The Trustee has assessed the major risks to which the charFty is exposed and is satisfied that systems are in
place to mitigate exposure to the major risks.
Structure, governance and management
The charity is unincorporated and is govemed by the will of Charfes Edward Sugden, proved on 11 July 1916
Several amendments have been made to the governing document, the last amendment was made on 26
December 2012. The charity registration number is 243833 and the principal offi¢e is Grove House. 12 Riddings
Road, Ilkley LS29 9BF. A Corporate Trustee has been appointed and any changes ill Trustee must be approved
by the Trustees of this company.

CHARLES EDWARD SUGDEN'S ALMSHOUSES
TRUSTEE REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustee serving during the yearwas:
Abbeyfield The Dales Limited
The Truslees of Abbeyfield The Dales Limtted are."
A L Hill (Chair)
F J Johnson (Resigned 31 May 2024)
D Smith (Deputy Chair)
M J Carter
l R Hepworth
IPri
N I￿lthaM
R G R2wling
T P Carroll
P Myers (Resigned 30 May 2025)
P G Myers (Resigned 30 May 2025)
J Connelly
A Massingham (Appointed 31 May 2024 and resigned 18 November 2024)
A Hunt
(Appainted 31 May 2024)
Damé J L Daniel (Appointed 27 September 2024 and resigned 30 July 2025)
A Lockhart-mirams (Appointed 25 July 2025)
(Resigned 31 August 2024}
Auditor
A2ets Audit Senrices were appointed as auditor to the association and in accordance with its goveming
document, a résolution proposing that they be re-appointed will be put at a General Meeting.
Disclosure of infoThnation to auditor
So far as each person who was a Trustee at the date of approving this report is aware, there is no relevant audit
information of which the association's auditor is unaware. Addilionally, the Trustee has taken all the necessary
sleps that they ought to have taken as a tnjstee in order to make themselves aware of all relevant audit
infotTnation and to eslablish that the assoaab-on's audtlor is aware of that infomiation.
Abbeyfield the Dales Limited
Trustee
Dated: 26 September 2025

CHARLES EDWARD SUGDEN'S ALMSHOUSES
STATEMENT OF TRUSTEE RESPONSIBILTIES
FOR THE YEAR ENDED 31 MARCH 2025
The Trustee is responsible for preparing the annual report and the financtal statements in ac¢ordance with
applicable law and regulations.
The registered social housing legislation requires the trustee to prepare financtal ststements for each financial year.
Under that legislation the Trustee has elected to prepare the financial ststements in accordance with United
Kingdom Generally Accepted Accounting Practice (United Efjngdom Accounting Standards and applicable lawl.
Under the regislered social housing legislation the TnJstee must not approve the finan¢ial ststernents unless they
are satisfied that they give a true and fair view of the state of affairs of the assoaation and of the profit or loss of Ihe
association for that period. In prepanng these finan¢iat statements, the trustee is required to"
select suitable accounting policles and then apply them consistently-
make judgements and accounting estimates thal are reasonable and pwdenl",
prepare the financial statements on the going COn￿M basis unless rt is inappropriate to presume that the
mpany will continue in business.
The Trustee is responsible for keeping adequate a(xounting records that are sufficiènt to show and explain the
association's transactions and disclose wrth reasonable atairacy at any lime the financtal position of the
associab.on and enable them to ensurè that the financial statements comply with Ihe Housing and Regeneration Act
2008 and the Accounting Direction for private regislered providers of social in England 2019. The Trustee is also
responsible for safeguarding the assets of the association and hen￿ for tsking reasonable steps for the prevention
and detection of fraud and other irregularits-es.

CHARLES EDWARD SUGDEN'S ALMSHOUSES
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF CHARLES EDWARD SUGDEN'S ALMSHOUSES
Opinion
We have audited the financial statements of Charles Edward Sugden's Almshouses (Ihe 'association'> for the year
ended 31 March 2025 which comprise of the profft and loss account. the balance sheet. the statement of changes in
equity and notes to the financial statements, induding significant accounting policies. The financtal reporting
framework thal has been applied in their preparation is applicable law and United lfjngdom Accounting Standards,
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland (Unitéd Kingdom Generally Accepted Accounting Practice).
In our opinion the financial slatements=
give a true and fair view of the state of the associations, affairs as at 31 March 2025 and of its incoming
resources and application of resources. induding its In￿Me and expenditure, for the year then ended,.
have been property prepared in accordan￿ wlh Unlted Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Acl 2011, the Housing and
Regener2b"on Act 2008 and Ihe Accounting Direction for private registered providers of social housing in
England 2019.
Basis for opinion
We conducted tsur audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) 2nd applicable
law. Our responsibiltties under those standards are further described in the Audltoffs responsibilities for the audit of
the financial slatemeT)ts section of our report. We are indépèndent of the association in accordance with the ethical
requirements that are relevant to our audit of the financtal statements in the UK, including the FRC'S Ethical
Standard, and we have fuffilled our other ethical responsibilities in accordan￿ with these requiremenls. We beliève
that the audit evidencé we have obtsined is suffiaent and appropriate to provide a basis for our opinion.
Conclusions relating to going coneem
In audiling the finanaal statements, we have conduded thal the trustee's use of the going concem basis of
accounting in the preparation of the financial statements is appropnate.
Based on the work we have performed, we have not identrfied any material uncertaints'es relating to events or
conditions that, individually or collectively, may cast signtficanl doubt on the company's abilty to continue as a going
con￿rn for a period of at least tsvelve months from when the financial ststements are authorised for issue.
Our responsibilities and the responsibilities of the tnjstee WTth respect to going concem are described in the relevant
sections of this report.
Other inforn)ation
The other information (x)mprtses the information induded in the annual report other than the finanaal statements
and our audrtor's report thereon. The trustee is responsible for the other infomation contained within the annual
report. Our opinion on the financtal statements does not cover the other information and. ex￿pt lo the extent
othemise explicitly ststed in our report. we do not express any fomi of assurance condusion thereon. Our
responsibilty is to read the other infomiation and, in doing so. consider whether the other information is materially
inconsislent with the financial slalements or our knowledge obtained in the course of the audtt, or otherwise appears
to be materially misstsled. If we identify such material inconsistencies or apparent maleri81 misstatements. we are
required to determine whether this gives rise to a material misstatement in the financial statements themselves. If,
based on the work we have perfomied. we condude that there is a material misstatement of this other infomiation,
we are required to report that fact.
We have nothing io report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the directofs report for the financtal year for which the financtal statements are
prepared is consistent with the financial slalements- and
the diiectorfs report has been prepared in accordance with applicable legal requirements.

CHARLES EDWARD SUGDEN'S ALMSHOUSES
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF CHARLES EDWARD SUGDEN'S ALMSHOUSES
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the association and its enMronment obtained in the course of the
audit, we have not identtfied material miss1atements in the trustee's report. We have nothing to report in respect of
the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report
to you rf, in our opinion:
adequate accounting records have not been kept. or retums adequate for our audit have nol been re￿iVed
from branches nol vistted by us.. or
the financial statements are not in agreement with the accounting records and retums" or
we have not received all the infomiation and explanations we require for our audit: or
the information given in the financÉal statements is inconsistent in any material respect Wtth the trustee's report.
In addition, we have nothing to report in respect of the following matter where the Housing and Regeneration Act
2009 requires us to report to you rf. in our opinion-
a satisfactory system of contro] over transaction has noi been maintained.
Responsibilities of the trustee
As explained more fully in the Irustee's responsibilities statement, the trustee is responsible for the preparation of
the financial statements and for being satisfied that they give a true and fair Mew, and for such intemal control as
the trustee detemiines is ne￿$sary to enable the preparation of finanual ststemenls that are free from material
misstatement. whether due to fraud or error. In preparing the financial statements, the tnJstee is responsible for
assessing the aSsO￿atIon'S ability to Gontinue as a going concem. disdosing, as applicable, matters related to going
concem and using the going concem basis of accounting unless the trustee either intends to liquidate the
association or to cease operations, or has no realistic attemative but to do so.
Auditorfs responsibilities for the audit of the financial ststsments
Our objectives are to oblain reasonable assurance about whether the financial statements as a whole are free from
material misst2tement, whelher due to fraud or error. and to issue an auditoffs report that indudes our opinion.
Reasonable assurance is a high level of assurance bLrt is not a guarantee that an audit conducted in accordance
with ISAS (u￿ will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if. individually or in the aggregate. they could reasonably be expected lo influence
the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council's website at= https.'11
w￿.frc.Org.uk1audltorsrespQns1b1lI1les. This description fomis part of our audrtorfs report.

CHARLES EDWARD SUGDEN'S ALMSHOUSES
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF CHARLES EDWARD SUGDEN'S ALMSHOUSES
Extent to which the audit was considered capable of detecting irregularities. including fraud
Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design prO￿dureS in
line with our responsibilities, oulined above and on the Financial Reporting Counul's wèbsite, lo delect material
misstateménts in respect of irregularities, induding fraud.
We obtain and update our undetslanding of the entity, its activities, Èts control environm6nt, and likely future
developments, including in relation lo the legal and regulatory framework applicable and how the entity is complying
with th3t framewot*. Based on this underslanding. we identfy and assess the risks of material misststemenl of the
financial statements, whether due to fraud or error. design and perfomi audit pro¢edures responsive to those risks.
and obtain audit e￿den￿ that is SUffi￿ent and appropriate to promde a basis for our opinion. This includes
Gonsideration of the risk of acts by the entity that were contrary to applicable laws and regulations. including fraud.
In response lo the risk of I￿egUlaritIeS and non-compliance with laws and regulations. induding fraud, we designed
procedures which induded..
Enquiry of managemenl and those tharged with govemance around actual and potential litigation and
daims as well as actual, suspected and alleged fraud-
Reviewing minutes of meetings of those charged with govemance",
Assessing the extent of compliance with the laws and régulations considered to have a direct material
effect on the financial statements or the operations of the assoctation through enquiry and inspection.,
Reviewing ff nancial statement disdosures and testing to supporting documentstion to assess compliance
with applicable laws and regulations-,
Perfoming audtt work over the risk of management bias and override of controls, induding testing of
joumal entries and other adjustments for approprialeness, evaluating the business rationale of significant
transactions outside the nomial course of business and reviewing accounting estimates for indicators of
potential bias.
Because of the inherent limitations of an audit. there is a risk that we will nol dete¢t all irregularities, induding those
leading to a material misstatement in the financÉal ststements or non-compliance wtth regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and Iransactions reflected
in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of
not detecting a material misststement resulting from fraud is higher than for one resulting from error. as fraud may
involve collusion. foigery, inlentional omissions, misrepresentstions. or the ovenide of intemal control.
Use of our report
This report is made solely to the association's Trustee, as a body, in accordance with Chapler 3 of Part 4 of the
Charities (Accounts and Reports) Regulations 2008 and section 137 of Ihe Housing and Regeneration A¢t 2008.
Our audit work has beert undertaken so that we might state to the association's Trustee those matters we are
required to state to the member in an auditoffs report and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibility to anyone other than the association and the assoctalion's Trustee
for our audit work, for this report, or for the opinions we have formed.
Al￿On Whalley
Senior Statutory Auditor
For and on behalf of Azets Audtt Services
hb
Chartered Accountants
Statutory Auditor
Carlton House
Grammar School Street
Bradford
BD14NS
BD14NS

CHARLES EDWARD SUGDEN'S ALMSHOUSES
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Tumover
Cost of sales
40,679
(45,112)
37.231
(39,0671
Gross loss
{4,433)
(1,836)
Other operating income
400
Operating loss
(4.433)
(1,436)
Interest receivable and similar income
4,353
3,453
(Loss}Iprofit before tsxation
(80)
2,017
Tax on (loss)Jprofft
{Lossllprofit for the fjnancial year
(80)
2,017
The profit and loss account has been prepared on the basis that all operalions are continuing operations.

CHARLES EDWARD SUGDEN'S ALMSHOUSES
BALANCE SHEET
ASAT31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
Investments
399,941
56,756
406,861
53,715
456,697
460,576
Current assets
Debtors
Cash at bank and in hand
3,982
26,621
8.637
20,142
30.803
28.779
Creditors: amounts falling due within
one year
10
(8,272)
(7,431)
Net current assets
22.331
21.348
Totsl assets less current liabilÉties
479,028
481,924
Credttors: amounts falling due after
more than one year
11
(109.822)
{112,638)
Net assets
369,206
369,286
Capital and rese￿e$
Revaluation reserve
Profit and loss reserves
12
13
217,320
151.886
224.820
144,466
Total equity
369,2
369,286
The financi
statements were approved and signed by the trustee and authortsed for issue on 26 September 2025
Abbeyfield the Oales Limited
Trustee

CHARLES EDWARD SUGDEN'S ALMSHOUSES
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Revaluation
reserve
Profit and
loss
reserves
Total
Balance at 1 April 2023
224,820
142,449
367,269
Year ended 31 March 2024:
Profit and total comprehensive income for the year
2,017
2,017
Balance at 31 Ma￿h 2024
224,820
144,466
369,286
Year ended 31 March 2025:
Loss and total comprehensive income for the year
Transfers
180)
7,500
(80)
(7.500)
Balance at 31 March 2025
217.320
151,886
369,206

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
General inf0m￿ti0rt
The charÈty is a registered social housing provider registered in England and Wales.
Registered Charty Number: 243833
Homes and Communriies Agency Regislration Number: A3990
Almshouses Association member number" M1012
1.1 Accounting convention
These financial statements have been prepared in accordan￿ with FRS 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland. fFRS 1021 and the requirements of Ihe Companies
Act 2008. The accounts comply wilh the Housing Act 2004, the Accounting Direction for Social Housing
Providers 2022, and the Housing SORP 2018 Ststement of Recommended Practice for Social Housing
Prowders published by the National Housing Federation.
The registered social housing provider ￿JnstlIuteS a public benefft entity as défined by FRS102.
The finanual statements are prepared in sterling, which is the functional currency of the association. Monetsry
amounts in these financial statements are rounded to the nearest £.
The financial ststements havè been prepared under the historical cost convention, modified to include the
revaluation of freehold properties and to indude investment properties and certain financial instruments at fair
value. The prinupal accounting poli￿eS adopted are set out below.
1.2 Going coneern
At the time of approvtng the financial statements, the bustee has a reasonable expectation thal the
association has adequate resour￿ to ¢ontinue in operational existen￿ for the foreseeable future. Thus the
trustee continues to adopt the going con￿rn basis of accounting in prepartng the finan￿al statements.
1.3 Turnover
Tumover represents weekly Maintenan￿ charges receiwable, induding water rates in the year, nel of losses
from voids and amortisation of govemment grants.
Social Housing Grant
Social Housing Grant (SHG) is receivable from the Homes and Communitiès Agency 2nd is utilised to reduce
the capttal costs of housing properties. The SHG is recognised in income on a systematic basis over the
expected useful economic lrfe of the properties.
1.4 Tangible fixed assets
Tangible fixed assets are Initi￿lY measured al cost and subsequently measured al cost or valuation, net of
depreciation and any impaimient losses.
Depreciation is recognised so as to write off the Gost or valuation of assets less their residual values over Iheir
useful lives on the following bases.-
Social housing properties
Doors and windows
Kitchens
Bathroom
Boilers
Electri21 and heating installations
50 yeaT5
30 years
20 years
25 years
15 years
25 years
10-

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
The gain or loss arising on the disposal of an asset is detemiined as the drfference befvleen the sale proceeds
and the carrying value of the asset. and is credited or charged to profft or loss.
1.5 Fixed asset investments
Investments are recognised initially at fair value which is normally the transaction price excjuding transaction
costs. Subsequenuy. they are measured at fair value through the profft and loss account rf the share are
publicly trdded or their fair value can othe￿ise be measured reliably.
1.6 ImpaiThnent of fixed assets
At each reporting period end date, the association revtews the carrying amounts of its tangible assets to
delermine whether there is any indication that those assets have suffered an impaimient loss. If any such
indication exists, the recoverdble amount of the asset is estim21éd in order to detemine the extent of the
impairment lass lif any). Where tt is not possible to estimate the recoverable amount of an individual asset,
the associalion estimates the recoverable amount of the cash-generating unil to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
Ihe estimated future ¢ash flows are discounted to their present value using a pre-tax discount rate that reflecls
current market assessments of the time value of money and the risks specific to the asset for which the
estimates of fLrture cash flows have not been adjusted.
If the recoverable amount of an asset (or casFFgenerating unit) is estimated to be less than its carying
amount, the carying amount of the asset {or CaS￿generating unit) is redU￿d to its recoverable amount. An
impaimient loss is recognised imrnedialely in profit or loss, unless the relevanl asset is carrted al a revalued
amount. in which case the imp3imenl loss is treated as a revaluation de￿eaSe.
Recognised impaimient losses are reversed rf, and only if, the reasons for Ihe impaimient loss have ceased to
apply. Where an impaiment loss subsequenlly reverses. the carying amount of the asset (or cash-generating
unit) is increased to the revised estimate of its recoverable amount, but so that the increased carying amount
does nol exceed Ihe carrying amount that would have been detemiined had no impairment loss been
recognised for the asset (or cash4Jenerating unit) in prior years. A reversal of an impaiment loss is
recognised irnmediately in the profit or loss. unless the relevant asset is Carried at a revalued amount, in
which Gase the reversal of the impaimient loss is treated as a revaluation increase.
1.7 Cash and cash equivalents
Cash and cash equivalents are basic finanual assets and include cash in hand, deposits held at call with
banks, other short-term liquid investments with ollginal maturities of three months or less. and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8 Financial inSt￿ments
The asSo￿ation has elected to appty thè proinsions of Section 11 'Basic Financial Instruments, and Section 12
'Other Finanaal Instruments Issues, of FRS 102 to all of its financial instruments.
Finan¢ial instruments are recognised in the association's balance sheet ￿]en the assoaation becomes party
to the contractual provisions of the instrument
Financial assets and liabilities are offset, with ihe net amounts presented in the financial ststements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle Ihe liability simuttaneously.
11

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
{Continued
Basic financial assets
Basic financial assets. whid) include deblors and Gash and bank balances, are initially measured at
Iransaction price induding transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaclion. where the transaction is
measured 81 the present value of the future re￿Ipts discounted at a market rate of interest. Finanual assels
dasstfied as recetvable within one year are not amortised.
Classification of financial liabilities
Financial liabilrties and equty instruments are cEassified acxx)rding to the substsnce of the contractual
arrangements entered into. An equity instnjment is any contract that eVIden￿S a residual interest in the
assets of Ihe association after deducting all of tts liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors. bank loans. loans from fellow group companies and preferen
shares that are dassified as debt, are inttially recognised at transadion price unless the arrangement
constitutes a finanang transaction. where the debt instnjrnent is measured at the present value of the future
payrnents discounted at a market rate of interest. Finanaal liabilities dassffied as payable wtthin one year are
not amortised.
Debt instruments are subsequenty carried at amortised cost, using the effective inlerest rate method.
Tradé Greditors are obligations to pay for goods or servÉces that have been acquired in the ordin2ry course of
business from suppliers. Amounts payable are dassified as cutTènt liabilities if payment is due within one year
or less. If not. they are présenled as non-current liabiltties. Trade creditors are recognised initially at
transaction price and subsequendy measured at amortised cost using the effective interest method.
1.9 Equity instruments
Equity instruments issued by the association are recorded at the pro￿dS received, net of transaction costs.
Dividends payable on equty instruments are reGognised as liabilities once they are no longer at the discretion
of the association.
1.10 Employee benefits
The costs of short-lèrm èmployee beneffts are recognised as a liability and an expense, unless those costs
are required to be recognised as part of the cost of stock or fixed assels.
The cast of any unused holiday entrtlement is recognised in the period in which the employee's senritss are
re￿ived.
Termination benefits are rewgnised immediately as an expense when the association is demonstrably
committed to temiinale Ihe employment of an employee or to provide temination benefits.
1.11 Govemment grants
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assuran￿ thatthe grant conditions will be met and the grants wll be re￿ived.
A grant that speGtfies perfomiance conditions is recognised in income when the perfoTTllanGe conditions are
met. Where a grant doe5 not spectfy performance conditions it is recL)gnised in income when the proceeds
are received or receivable. A grant recetved before the recL)gnition criteria are salisfied is reGognised as a
liability.
12-

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Judgements and key sources of estimation uncertainty
In the application of the association's accounting poficies, the trustee is required to Make judgements,
estimates and assumptions aboLrt the carrying amount of assets and liabilities that are not readily apparenl
from other sourtss. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant Aclual results may dtffer from these estimates.
The estimates and undet1ying assumptions are revtewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only ihat
period, or in the period of the revision and future periods where the remsion affects both current and future
periods.
Social Housing turnover and costs
2025
2024
Tumover
Rénts receivable
Amortised social housing grant
37,863
2,816
34.415
2,816
Turnover from so¢ial housing lettings
40,679
37,231
Administrative expenditure
Management
Se￿iCe charge cosls
Routine maintenance
Legal fees
DepreciatiL)n of housing properties
{9,410)
(17.793>
(5,973)
(8,250)
(13,833)
(5,144)
(40)
{11.800)
(11,936)
(45,112)
(39,067)
Operating (deficit) on social housing lettings
(4,433)
<1,836)
Void losses
(837)
Accomodation owned and in managernent
Units at
Units at 31
31 March
March 2025
23
Number Number
Housing Accomodation
Surplus on ordinary aclivities is ststed after chargingl(crediting):
2025
2024
Operating loss for the year is ststed after chargingl(Grediling)-
Govemment grants
Audtt fees
Deprectation of owned tangible fixed assets
Amortisation of social housing grants
{400)
2,70Q
11,800
(2,8161
2,700
11,936
(2,816)
13-

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Interest receivable and similar income
202S
2024
Interest income
Interest on bank depostts
639
203
Other income from investments
Dividends recÉived
Gains on financial instruments measured at fair value through profrt or loss
672
3,042
647
2,603
Total incame
4,353
3,453
Tangible fixed assets
Social housing
properties
Boilers
Total
Cost
At 1 April 2024
Additions
375,000
107,540
5,016
482,540
5,016
At 31 March 2025
375,000
112,558
487,556
Depreciation and impaimient
At 1 April 2Q24
Depreciatson charged in the year
60,000
7,500
15,679
4,436
75,679
11,936
At 31 March 2025
67,500
20,115
87.615
Carrying amount
At 31 March 2025
307.500
92.441
399,941
At 31 March 2024
315,000
91,861
406.861
The properties were recognised using market value with full vacant possession, as a deemed cost on
transition to FRS102. These assels are being deprectated from their valuation date of 31 March 2016 and
have a current net book value of £307,5￿ (2024- £315,000). The historical cost equivalent of these assets is
£182,054.
Fixed asset investments
2025
2024
M & G Charity Multi Asset Fund
56,756
53,715
14-

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Fixed asset investments
{Continued)
Movements in fixed asset investments
Invesiments
Cost or valuation
At 1 April 2024
Valuation changes
53,715
3,041
At 31 March 2025
56,756
Carying amourrt
At 31 March 2025
56,756
At 31 March 2024
53,715
Debtors
2025
2024
Amounts falling due within one year.
Other debtors
Prepayments and accrued income
1.431
2.551
5,742
2,895
3,982
8,637
10 Creditors: amounts falling due withtn one year
2025
2024
Trade creditors
Social housing grant
Other creditors
Accruals and deferred income
1,626
2,816
497
2,816
905
3,213
3.830
8,272
7,431
15-

CHARLES EDWARD SUGDEN'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
11 CredÉtors: amounts falling due after more than one year
2025
2024
Social housing grant
109,822
112,638
Soaal housing grant totalling £140,798 has been received. This will be repaid if the properties are sold. The
social housing grant is being recognised in income systematically over the expected useful life of the structure
(50 years).
12 Revaluation reseNe
2025
2024
At the beginning of the year
Transfer to retained eamings
224,820
17,500)
224,820
Al thé end of the year
217,320
224.820
13 Profit and loss reser4*es
2025
2024
At the beginning of the year
(Loss)Iprofft for the year
Transfer from revaluation reseNe
144,466
(80)
7,500
142,449
2,017
At the end ofthe year
151,886
144,466
14 Related party transactions
During the year £5,775 (2024: £5,250) was paid for management charges to Abbeyfield The Dales, the
Corporate trustee. At 31 March 2025 £1.431 {2024: £5,742) was due from Abbeyfield The Dales.
16-

CHARLES EDWARD SUGDEN'SALMSHOUSES
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025

CHARLES EDWARD SUGDEN'S ALMSHOUSES
DETAILED PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Turnover
Sales of goods
40,679
37,231
Cost of sales
Purchases and other direct costs
Direct costs
Depreciation
33.176
11,936
27,267
11,800
Total purchases and olher direct costs
45.112
39,067
Total c051 of sales
(45.112)
(39,067)
Gross loss
Other operating income
Govemment grants receivable and ￿leaSed
10.90Q
(4,433)
4.93 /0
{1.836)
400
Operating loss
(4,433)
{1,436)
Interest receivable and similar income
Bank interest re￿IVed
Gains on finan￿al instrurnenls
Dividends from investments
639
3.042
672
203
2,603
647
4.353
3,453
(Lossllprofit before taxation
0.20%
(80)
5.42°
2.017