TII ￿lT
The Worshipful Cornpany of Weavers
Weavers, Almshouse Charities
Trustee's Report & Accounts
For the Year Ended 31 December 2024
Charity No: 245453
Homes England No.. A 0261

Contents Page
GenÈral Information
Trustee's Report
Independent Auditorfs Report
Flnancial Statements
Statement of Financial Activlties
8alance Sheet
io
Cash flow statement
li
Notes to the Financial Statements
12-22
Det3iled I&E Account
23

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
General Informatlon
Full Name:
The Weaver5' Almshouse Charities
Registered Nurnbers..
Registered Charity No 266189
Homes England No.. A0261
Governing Instrument..
Scheme of the Charity Commission dated 24 October 1968
Trustee:
The Worshipful Company of Weavers
Registered Addre5S'.
Saddlers, House
Gutter Lane
London
EC2V 68R
Telephone..
020 7606 1155
Email..
weavers@weavers.org.uk
Website-
www.weavers.org.uk
Clerk to the Trustee..
James Gaselee
Bankers..
CHoare &Co
37 Fleet Street
London
EC4P 4DQ
Investment Advisors..
Canaccord Genuity
88 Wood Street
London
EC2V 7aR
Solicitors:
Lee Bolton Monier-williams
l The Sanctuary
London
SWIP 31T
Auditors..
Haysmac LLP
10 Queen Street Place
London
EC4R IAG

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Trustee'5 Report
Detèlls of Trustee
The Trustee is the Worshipful Company of Weavers Ithe'weavers, Company'l, together known
as the co￿rt of Assistants. The persons In office at the date the accounts were signed, or who
served during the year, were as follows:
Mrs RJ. Ridley
Mr P.M.J. Baxendell
Mr A.1. Winterton
Mr J.R.H Bagley
Mr S.C. Combey
MrL.B. Tharp
Mr N.P.M. Morris
Mr M.G. Yeandle
H.M. KingCh3rleslll
Mr R.W. Townsend
MrJ.G.Y Radcliffe, O.B.E, Q.V.R.M, T.D
Mr C.D.R. Collinge
Mr F.1. St.J. Tibbitts
Mr l.L.C. Winterton
Mr E.C.A .Martineau
Mrs H.S. Wa113ce-Jones
Mrl.F. Nugée
Mr P.G. Cattermull
Mrj. Garbutt IP, High sheriff of Greater London Mr T.H.M. G3ddum
Mr PJ.H. Towler
Mr D.R.D. Hopkins
Mr W.J. Makower
Mrs P.C. Ouvry-johns (appointed 2 October
20241
Mr P.C.E Morris
The following co-opted liverymen served on the Almshouses Committee during the year..
G. Courtauld Jnr
Rt Revd. A.J. Proud
T.H. Bacon
Strurture, governance and management
The Weavers, Almshouse Charitieg are linked with the former Weavers, Pension Charities and
the two charities are together governed by a Scheme of the Charity Commission Sealed in 1968
to bring together many of the smaller charities of the We3vers' Company. These smèller
charities were all dissolved, and their assets transferred into the Weavers, Companv
Benevolent Fund as at 31 December 2013, hence only the We3vers' Almshouse Charities
remain of the charitie5 governed by the 1968 scheme.
Persons in office are recruited from within the Livery of the Company. A Selection Committee
meets every year to consider suitable members from within the Livery and makes
recommendations to the Trustee. They will normal￿ have had previous experience on one or
more of the Company's committees. They receive a briefing on their responsibilities and their
attention is drawn to the relevant Charity Commission publications, including 'The Essential
Trustee.. What you Need to Know, What You Need to Do..
The Company's Almshouses Committee meets twice per annum to determine matters
specifically affecting the Almshouses. In addition, the House Cotnmittee acts as a support to
the staff who provide the day-to-day m3nagement. For governance purposes, the charity
generally follows the guidance of the Almshouse Association.

The Worshipful Company of Weavers
Weavers, Almshouse Charitie5
31 December 2024
Trustee's Report (continued)
In June 2019, the Court of the Weavers, Company discussed the future of the Weavers,
Almshouses and considered them to be an integral aspect of the work and spirit of the
Company.
Objectives and activities
The object of the Weavers. Almshouse Charities is to provide Almshouses for elderly persoris
at Weavers, House, New W3nStead, working with the London Borough of Redbridge to achieve
these objectlves. Weavers, House has been providing sheltered almshouse accommodatlDn
since 1859. The buildings have been modernised many times since then and now consist of
two double bedroom flats, 16 one-bedroom, two person flats, 18 one-bedroom, single
occupancy flats and two studio flats, plus staff accommodation and a guest room. In 2013 the
roofs on all the buildings were replaced and the exterior redecorated and 3 planned
programme of refurblshing bathrooms and kitchens is in place.
Public benefit
As noted above, the objects of the charity are for the benefit of the public. The Trustee has
taken due account of the Charity Commission's 8uidance on Public Benefit when allocating the
almshouse accommodation and when considering the activities and achievements of the
charity. The charity is able to significantly improve the quality of life of a number of residents,
particularly those without families, by providing social events and other personal support.
Achievements and perfomian
The buildings continue to provide much needed accommodation for elderly persons in the
London Borough of Redbridge and the prevailing low void rate demonstrates that it is meeting
the need5 of the local community.
Financial Revlew
As set out in the lormal 3ccounts Isee in particular rnote 4 on page 141, net income from lettings
amounted to £430,952 12023= £361,780). Total voids for the year were £10,202 12023..
£44,197). Investment income of £44,766 12023.. £42,892) was received together with
donations of £30,0(K)12023.. £1,107,685). Charitable expenditure amounted to £367,377
12023.. £367,648).
There wa5 a net increase in unrestricted funds of E142,57412023'. increase of £1, 056,6941 to
a total of £1,577,28512023.. £1.434,7111. The increase was made up of an increase of £149,760
in the General Fund12023'. increase of £1,019,231) and a £7,186 decrease in the Deslgnated
Maintenance Fund512023.' increase of £37,463).

The Worshipful Company of Weavers
Weavers, Almshouse Charitie5
31 December 2024
Trustee's Report Icontinuedl
In addition to the surplus of £228,39912023.' £1,199,156) shown in the Statement of Financial
Activitie5, £19,043 was also spent on refurbishing kitchens and bathrooms and replacing boilers
12023.. £112,7551. This is reflected in the 821ance Sheet, the Cash Flow Statement and note 10.
Cash increased in the year by £57,70812023- £9,927). The Trustee believes that these funds
provide adequate security to enable the charity to continue providing a good standard of
accommodation for elderly persons in the London Borough of Redbridge and that the
designated maintenance fund5 will enable the property to be maintained and upgraded as
required.
Investment policy and performance
The charity's investments form part of the Weavers, Company Benevolent Fund portfolio. They
are overseen by the Company's Investment Committee, who, during the year, were advised by
Canaccord Genuity. Their strategy has a balanced investment objective and a rmoderate risk
emphasi5. At 31 December 2024 the market value of investments was £1,506,106 12023..
£1,441,048). Duririg the year a net amount of £25,000 was withdrawn from investments12023.'
£ioo,0001.
Rlsk management and principal risks
The assessment of risk is embodied in the management of the charity. A quinquennial survey
is undertaken by the charivs surveyor and his recommendations are followed up. The
Weavers, Company Audit Committee also carries out formal risk assessments of all the
operations of the charity, with a view to identifying and mitigating any risk5 to which the charity
might be exposed. These are seen as being the effetts of future Government constraints on
rent levels and the need to keep pace with the increased expectations of future residents in
respect of the accommodation provided. A business continuity plan has been completed and
adopted by the Almshouse Committee. The Trustee does not believe that there is any material
risk that the charity could not continue as a going concern.
ReseNe5
The reserves policy has been established after careful consideration of the charity's Ilkely
ongoing commitmersts to existing residents, the expected future trends in applications for
assistance and the sources and reliability of income. This policy is reviewed on an annual basis.
The charity has met the Almshouse Association's recommendations for transfer to the
designated Extraordinary Repails Fund and the Cyclical Maintenance Fund during the year. At
31 December 2024, unrestricted reservès, includin8 designated funds. totalled El,577,285
12023.. £1,434,711).
The Trustee expects to balance income and expenditure and any surpluses are either added to
the Cyclical Maintenance or Extraordinary Repair Funds to meet the c05t of future planned or
extraordinary repairs and maintenance, or are carried forward to meet future commitments.

The Worshipful Cornpany of Weavers
Weavers, Almshouse Charities
31 December 2024
Trustee's Report Icontinuedl
Related Parties
The Weavers, Almshouse Charities and the Weavers, Company Benevolent Fund are
administered by a common Trustee, who at 31 December 2024 was the Weavers, Company.
A portion of the administration expenses incurred by the charity is paid to the Worshipful
Company of Weavers, General Fund12024.. £58.963, 2023: £51,160). This and other related
party transactiDns are disclosed in the accounts.
Houslng Regulatorfs Governance and Viability Standard
The Trustee has complied with the Homes & Communities Agency's Governance 2nd Financial
Vi2bility Standard.
Statsment of Trustee's responsibllitles
Charity law and regulations for Registered Providers of Social Housing requlre the Trustee to
prepare, for each financial year, financial statements which give a true and fair view of the state
of affairs of the charity and of its financial activities for that period. In preparing those fin3ncial
statements the Trustee is required to..
al select suitable accounting policies and then apply them consistentlv-
bl make judgements and estimates that are reasonable and prudent,.
cl state whether the policies adopted are in accordance with the Housing SORP, the
Regulations made under section 145 of the charities Act 2011 and with applicable
accounting standards, subject to an material departures disclosed and explained in
the financial statements
dl prepare the financlal statements on a going concern basis Lsnless it is inappropriate
to assume that the charity will continue to operate.
The Trustee is responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charity to ensEJre that the
financial statement comply with the Charities Act 2011. The Trustee is also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud or other irregularities.
Approved by
e Trustee on 4 Jurse 2025 and signed on its behalf
Al Winterton
Renter Bailiff

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Independent auditorg report to the Trustee of the Weavers, Almshouse Charltles
Opinion
We have audited the flnancial statements of Weavers, Almhouse Charities for the year ended
31 December 2024, which comprise the statement of firiancial activities, the balance sheet,
the cash flow statement and the notes to the financial statements, including a summary of
significant accounting policies. The financial reporting framework that has been applied in
their prepar3tion is applicable law and United Kingdom Accounting Standards, including
Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion. the financial statements..
give 3 true and fair view of the state of the charity's affairs as at 31 December 2024
and of the charity's net movement in funds for the year then ended,.
have bèen properly prepared in accordance with United Klngdom Gener311y Accepted
Accounting Practice,. and
have been prepared in accordance with the requirements of the Charities Act 2011,
the Housing and Regeneration Act 2008 and the Accounting Direction for private
registered providers of soci31 housir>g from January 2019.
Basi5 for opinlon
We have been appoirlted as auditor under section 144 of the Charities Act 2011 and report in
accordance with the Act and relevant regulations made or having effett thereunder. We
conducted our audit In accordance with International 5tand3rds on Auditing IUKI IISAS IUKII
and applicable law. Our responslbilities under those standards are further described in the
Auditor's responsibilities for the audit of the firkancial statements section of our report. We
are independent of the charity in accordance with the ethic31 requirements th3t are relevant
to our audit tsf the financial 5t3tements in the UK, includir7g the FRUS Ethical Standard, and
we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we h3ve obtained is s￿fficient and appropriate to provide a
basis for our opinion.
Conclusions relating to golng concern
In auditing the financial statements. we have concluded that the TrLJ5tee's use of the Boing
concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the woik we have performed, we have not identified any material uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the charity's ability to continue as a going concern for a period of at least twelve months from
when the financial statements are authorised for issue.
Our responsibilities and the rèsponsibilities of the Trustee with respect to going concern are
described in the relevant sections of this report.
Other informatlon
The Trustee Is responsible for the other information. The other information comprises the
information included in the Trustee's Annual Report. Our opinion on the financial statements
does not cover the other information and. except to the extent otherwise explicitly stated in

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Independent auditors, report to the Trustee of the Weavers, Almshouse Charities Icontlnuedl
our report, we do not express any form of assuran￿ conclusion thereon.
In connection with our audlt of the financi81 statements, our responsibility is to read the other
informatlon and, in doing so, consider whether the other information is materially
incon51Stent with the financial statements or our knowledge obtained in the audit or
otherwise appears to be m3teri311y misstated, If we identify such mater121 inconsistencies or
apparent material misstatements, we are reqLJlred to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information.
If, based on the work we have performed, we conclL¢de that there is a m3terial misstatement
of this other information, we are required to report that fact. We have nothing to report in
this regard.
Matters on whlch we are requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities
IAccounts and Reports) Regulations 2008 require us to report to you if, in our opinion..
adequate accounting records have not been kept by the charity,. or
sufficient accounting records have not been kept; or
the charity financial statements are not in agreement with the accountlng records and
returns,. or
we have not received 311 the information and Explanations we require for our audit.
Responsibilitie5 of Trustee for the flnancial statements
As explained more fully in the Trustee's responsibilities statement set out on page 5, the
Trustee is responsible for the preparation of the financlal statements and for being satisfied
that they give a true and fair view, and for such intemal control as the Trustee determine is
necessary to enable the preparation of financial statements that are f ree from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustee is responsible for assessing the charity's
ability to continue as a going concern, dlsclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustee either intend to
liquidate the charity or to cease operations. or have no realistic alternative but to do so.
Auditorf5 responsibilities for the audit of the flnancial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from m3terl31 misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasor¢able assurance is 3 high level of assurance
but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect material

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Independent auditors, report to the Trustee of the Weavers, Almshouse Charitles lcontlnuedl
misstatements in respect of irregularities, including fraud. The extent to which our procedures
are capable of detecting irregularities, including fraud is detailed below-.
Based on our understanding of the charity and the environment in which it operates, we
identified that the principal risks of non-compliance with laws and regulations related to
registered charities, and we considered the extent to which non-compliance might have a
material effect on the financial statements. We also considered those laws and regulations
that have a direct impact on the preparation of the financial statements such as the Charities
Act 2011 and other factors such as taxation.
We evaluated m3n3gement's incentives and opportunities for fraudulent manipulation of the
financial statements (including the risk of override of controls) and determined that the
principal risks were related to manual accounting journals. Audit procedures performed by
the engaEement team included:
Discussions Wlth management including consideration of known or suspected
instances of non-compliance with laws and regulation and fraud,.
Evaluating management's controls designed to prevent and detect irregularities,. and
Identifying and testing journals, in particular journal entries posted with unusual
account combinations, postings by unusual users or with unusual descriptions.
A further description of our responsibilities for the audit of the financial statements Is located
on the Financial Reporting Council's website at.. www.frc.org.uk/auditorsresponsibilities. This
description forms part of our auditorfs report.
Because of the inherent limitations of 3n audit. there is a risk that we will not detect all
irregularities, including those leading to a material misstatement in the financial statements or
non-compliance with regulation. This risk increases the more that compliance with a law or
regulation is removed from the events and transactions reflected in the financial statements,
as we will be less likely to become aware of instances of non-compliance. The risk is also greater
regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
Use of our report
This report is made solely to the charitqs Trustee, as a body, in accordance with section 144
of the Charities Act 2011 and regulations made under section IS4 of that Act. Our audit work
has been undertaken so that we might state to the charity's Trustee those matters we are
required to state to them in an Auclitor's 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 charity's
stee as a body for our audit work, for this report, or for the opinions we have formed.
Haysmac LL
Statutory A ditors
10 Queen Street Place
London
EC4R IAG
. £yJ
Haysmac is eligible to act as an auditor in terms of section 1212 of the Companies Act.

The Worshipful Company of Weavers
Weavers, Almshouse CharitlES
31 December 2024
Statement of Financial Activitles ft)r the Year Ended 31 December 2024
Notes
Unrestricted Endowment
funds
funds
Tot81 funds
Total
2024
2024
2024
2023
INCOME
Income and endowments from..
Investments
44,766
30,(X)O
44,766
30,000
42,892
1,107.685
Donations
415
Charltable activities.,
Residents, contributions
430,952
505,718
430,952
505,718
361,780
1,512,357
Total income
EXPENDITURE
Charltable artlvlty
Almshouse accommodation
Services
164,937
72,186
85,251
164,937
72,186
85.251
42,623
2,380
367,377
138,341
180,623
68,694
69,447
35,591
13,293
367,648
1,144,709
Management
Routine maintenance
Depreciation
Maintenance- major ttems
Total expenditure
Net income/lexpenditurel
Net gains on investments
Net incomellexpenditure} ft)r the
year
Transfers between funds
42,623
2,380
324,754
180,964
42,623
142,6231
90,058
271,022
90,058
228,399
54,447
1,199,156
142,6231
1128,4481
142,574
1,434,711
1,577,285
128,448
85,825
1,604,672
1,690,497
Net movement in funds
Funds brought forward
Fund5 carried forward
228.399
3,039,383
3,267,782
1,199,156
1,840,227
3,039.383
The notes on pages 12 to 22 form part of these financial statements.

The Worshipful Company of Weavers
Weavers, Almshouse charities
31 December 2024
Balance Sheet as at 31 December 2024
Notes
2024
2024
2023
2023
Flxed Assets
Tangible:
Housing property
Investments
io
1,721,962
1.506,106
1.636,465
1,441,048
3,077,513
li
3,228,068
Current A55ets
Debtors
Cash at bank and in hand
12
4,009
87,884
5,709
30,176
35.885
91,893
Creditors
Amounts falling due within one
Year
13
21,810
43,295
Net current a55ets/lliabilitiesl
70,083
17,4101
Total a55ets less current liabilities
3,298,151
3.070,103
Creditors:
Amounts falling due after one year
14
130,3691
130,7201
Net a55ets
3,267,782
3,039.383
Funds
Unrestricted Funds
15
1,577,285
1,690,497
3,267,782
1,434,711
1,604,672
3,039,383
Endowment Funds
16
Total
The notes on pages 12 to 22 form part of these financial statements.
Approved by the Trustee on 4 June 2025 and signed on its behalf by.
AJ Winterton
Renter Bailiff
io

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Cash flow statement- for the year ended 310ecember 2024
2024
2023
Net movement in fLJnds
228,399
1,199,156
Investment gains
190,0581
144,7661
154,4471
142,8921
35,591
DedEJct- investment income shown in investing activities
Add.. depreciation
42,623
Decrease in debtors
1,700
2,893
IDecreasel/lncrease in creditors lexcluding loans)
Net cash from operatlng activities
121,4851
116,413
2,494
1,142,795
Cash flows from investin8 activlties
Investment income
44,766
42,892
Transfer of investments from Weavers, Benevolent Fund
11,012,685)
Purchase of investments
150,(XJ)I
75.000
SaSe of investments
Purchase of tangible fixed assets
Net cash from Investing activltles
Cash flows from financlng activities
Repayment of103ns
Increase in cash and cash equlvalents in the year
1128,1201
1112,7551
158,354) 11.082.548}
13511
150,3201
9,927
57,708
Cash and cash equivalents at the start of the year
Totsl cash and cash equlvalents at the end of the year requlred for
operational purposes
30,176
20,249
87,884
30,176
li

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Note5 to the accounts for the year ended 31 December 2024
l. Accounting Policie5
1.1 Basis of preparatlon
The financial statements have been prepared in accordance with the Financial Reportlng
Standard applicable in the UK and Republic of Ireland IFRS1021 and with the Statement of
Recommended Practice.. Accounting by Registered Social Housing Provider5 2014 12018
update) and the Accounting Direction for Private Registered Providers of Social Housing 2015
from January 2019. In addition the Trustee has had regard to the Statement of Recommended
Practice.. Accounting ancl Reporting by Charities and elected to present the financial
performance of the charity in the form of a Statement of Financial Activities. The charity is a
public benefit entity as defined in FRSIO2.
In preparing the accounts, the Trustee has assessed whether the use of the going concern basis
is appropriate and has considered possible events or CDnditions that might cèst significant
doubt on the ability of the charity to continue as a going concern. The Trustee h35 made this
assessment for a period of at least one year from the date of approval of the flnancial
statements. In view of the level of assets held, the Trustee has concluded th3t there is
reasonable expectation that the charity has adequate resoLFrces to continue in operational
existence for the foreseeable future. The charity therefore continues to adopt the going
concern basis in preparing its financial statements.
In view of the Trustee in applying the accounting policies adopted, no judgements were
required that have a significant effect on the amounts recognised in the financi31 statements,
nor do aF)y estimates or agsumptions made carry a significant risk of material adjustment in the
next financial year.
1.2 Basls of Accounting
Assets and liabilities are initially measured at cost or transaction value. Market investments
are re-rneasu￿d at fair value at the balance sheet date. The market bid price is taken as fair
value as the charity only holds simple financial instruments. Changes in fair value are dealt wlth
through the Statement of Financial Activities.
1.3 Incoming resources
Incomin8 resources are recognised on 3 receivable basis.
1.4 Housing property
Housing properties at l January 2014 were rest3ted at a deemed cost on adoption of FR5102
and subsequent additions are stated at actual cost. Depreciation is applied on 3 component
basis. with different rates used for 3ssets with materially different useful economic lives.
Further to the deemed cost amendment, foul components are currently distinguished..
Historic structure- 200 years
Roofing- 100 years
Bathroom and kitchen replacement- 20 years
Boilers & other- 10 year5
12

The Worshipful Company of Weave
Weavers, Almshouse Charities
31 December 2024
Notes to the accounts for the year ended 31 Dettmber 2024 Icontinuedl
l. Accounting Policles Icontinuedl
1.5 Capital grants
Government capital grants received prior to the FRS102 transition date were removed from
the balance sheet on the adoption of a deemed cost of the fixed assets, but the 3mount
received is disc105ed in note 13. Any future government grants will be recognised initially a5
long-term creditors and amortised over the life of the assets funded. Non-government grants
are treated a5 income.
1.6 Designated funds
The charity has de51Enated funds for Cyclic31 Maintenance and Extraordinary Repairs. Amounts
transferred into these funds reflect a programme of planned works whereas amounts
transferred from the funds represent amounts actually spent. Details of designated funds are
shown in note 15.
1.7 Expenditure
Expenditure is recognised Dn an accruals basis. Service costs include 311 expenses directly
incurred in the running Df the Almshouses. Support costs are included in management
expenses.
1.8 Value Added Tax
Thè charity is not registered for VAT. In these financial statements, where applicable,
expenditure Is shown inclusive of VAT.
2. Directors. emoluments
The Oirectors are defined as the Trustee and the Clerk to the Trustee. None of the persons in
office received any emoluments. A contribution towards the emoluments of the Clerk to the
Trustee. who was also the highest Paid Director, is included in administration expenges
reimbursed to the Weavers, Company General Fund.
3. Employee information
The average weekly number of persons (excluding the Clerk to the Trustee) employed during
the year wa5 312023: 41. These were all service staff.
Staff costs:
2024
2023
Wages and salaries
Social security costs
Pension contributions
Other
70,662
6,866
3,326
3,113
83,301
7,968
3,760
5,241
83,967
100.270
13

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Notes to the accounts for the year ended 31 December 2024 Icontinuedl
4. Particulars of tumover and operating costs
Turnover
Operatlng
costs
Turnover
Operating
costs
2024
2024
2023
2023
Income and Expenditure from
Letting5
Residents, contributions
Less.. voids
Housing income and expenditure
441,155
110,2031
430,952
405,977
144,1971
361.780
1364,4051
1364,6461
Investment income
Doriations received
Interest payable and similar
charges Inote 61
Total
44.766
30,000
42,892
1,107,685
12,9721
13,LX)21
505.718
1367,3771
1,512,357
1367,648
Net income
138,341
1,144,709
5. Donatlons received
2024
2023
Donations from the Weavers, Benevolent
Fund
Donation from the Weaver5' Companv
1,077,685
30,000
30,000
Total
30,OL)J
1,107,685
14

The Wofshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Notes to the accounts for the year ended 31 December 2024 Icontinued)
6. Interest payable and slmllar charges
2024
2023
On loans wholly or partially
repayable in more than 5 years
2.972
3,C(J2
7. Net income
Net incoming resources are ststed after charging
2024
2023
Depreciation- tangible fixed assets
42,623
35,591
Auditors, remuneration (including VATI in their capacity as
auditors
9,9(K)
9,228
8. Taxation
Weavers, Almshouse Charities is a registered charity and is therefore exempt from liability to
taxation on its income and capital gains, provided that these are expended in accordance with
its charitable activities.
9. Rent losses from void5
The rent losses from voids were 2%12023'. 11%} of the total possible income from rent.
10. Tan8ible A55ets
HOUSING PROPERTY
(Freehold)
Buildlngs
Kitchen &
lincl. major
Bathroom
repairs) refurbishments
Bollers & Roofing
other
Total
Housing
PrDpety
Total
HDuslng
Property
2024
2024
2024
2024
2024
2023
Deemed cost
At Ilanu3ry2024
Additions
At 31 December 2024
Depreclation
At I13nuary 2024
Charge for the year
At 31 December 2024
Net Book Value
At I January 2024
At 31 December 2024
714,135
50,822
764,957
425,326
19,043
444.369
44,784 627,604
58,255
103,039 627.604
1,811,849
128,120
1,939,969
1,699.094
112,755
1,811,849
28.065
3,825
31.890
77,718
22,218
99.936
10,478
10,304
20,782
59,123
6,276
65,399
175,384
42,623
218,007
139,793
35.591
175,384
686,070
733,067
347,608
344,433
34,306 568,481
1,636,465
82,257 562,205 1,721,962
1,559,301
1,636,465
15

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Notes to the accounts for the year ended 31 December 2024 Icontlnuedl
10. Tangible assets Icontlnuedl
Additions in the year represented the cost of building works to 2 fl2ts12023,' nonel refurbishing the kitchens
and/Dr bathrooms in i flat12023.' 7 flats), works to the plant room boiler and the installation of a new Warden
call system.12023: works to the plant room boiler). The current reir)statement C05t assessment of the
Almshouse property is £10,341,000.
11. Investments
2024
2023
Market value at l January 2024
Additions
Don3tlDn of shares from Weavers,
Benevolent Fund
Disposals
Unrealised gains
1,441,048
50,000
373,916
1,012,685
17S,0001
90,058
54,447
Total
1,506,106
1,441.048
The investments are managed as part of the Weavers, Company Benevolent Fund portfolio.
12. Debtors due wlthin one year
2024
2023
Relatedporty debtors..
Weavers, Company 8enevolent Fund
Other debtor5 and prepayments
Total
2,703
1,306
4.009
1,522
4,187
5,709
13. Credltors due within one year
2024
2023
Reloted party creditors..
Weavers, Company General Fund
Accruals and sundry creditors
Loan from Fresh PIC
Total
54
42,168
1,073
43,295
20.713
1,097
21,810
16

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Notes to the accounts for the year ended 31 December 2024 lcontlnuedl
14. Credltors due after one year
2024
2023
Housing loan5 for refurbishment scheme:
Loan from Fresh plc
30,369
30,720
The loan from Fresh PIC is secured by a charge on Weavers, House, Wanstead. The residual
loan was repayable over 60 years by half-yearly instalments, the last instalment of which fèlls
to be repaid on 31 October 2048. The residual loan bears interest at the fixed rate of 9.625%
per annum. A substantial interest penalty would be incurred in the event of early repayment
of the loan.
of the total housing loan £35112023.. £3511 is due for repayment in 1-2 years, £1,78812023'.
£1,788) in 2-5 years, leaving a balance of £28,23012023'. £28,581) with a maturity date in excess
of 5 years.
15. Unrestricted Funds
Designated Funds
General
Fund
Cyclical Extraordlnary
Malntenance
Repair Fund
Fund
Total
2024
2024
2024
2024
Bèlance l January 2024
Net incoming resources
Transfer in respect of current
years repairs and maintenance
Transfers to fund future repairs
and maintenarnce
Transfer to property fund
Unrealised gains
Balance 31 December 2024
1,006,954
170,385
2,380
195,671
4,502
12,3801
232,086
6,077
1,434,711
180.964
170.4501
50,450
20,(K)O
119,3701
66,815
1,156,714
1109,0781 1128,4148}
14,571
90,058
163,656
1,577.285
8.672
256.915
Deslgnated Fund5
The Trustee acknowledges the requirement to maintain and improve the Almshouse
accommodation and, in line with Euidance from the Almshouse Association, has set aside
resources within two desiEnated funds to carry out major items of cyclical maintenance and to
provide foi extraordinary repairs.
17

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
Notes to the accounts for the year ended 31 December 2024 Icontinuedl
Cycllcal Maintenance Fund
The cyclical rna1ntenan￿ fund is a reserve fund to meet maiTrtenance recurring at regular
inteNals, external redecoration and the cost of professional fees such as for quinquennial
inspections to which an annual transfer is made from general unrestricted resetves. In 2024,
£50.450 was added to the fund12023.. £30.4501 and £2,380 was spent on soundproofing flats
12023.. £3,980). The fund also received a share of investment income of £4,50212023.. £4,201)
and unrealised g3ins of £8,67212023= £5,383).
Extraordinary Repalr Fund
The extraordinary repairfund is a reserve fun(i forfuture major expenditure to which an annual
transfer is rll3de from the general Ljnrestricted reserves. In 2024, £20,(￿) was added to the
fund12023.' £5,000) and £50,822 was spent on building works. £50,928 on a new warden call
system and £7,328 on plant room works12023.. £10,834 on plant room works and £9,313 on
gutter works). The fund also received a share of investment income of £6,07712023.' £7.2571
and unrealised gains of £14,57112023.. £9,299).
16. Endowment Funds
The value of the endowment fund at 31 December 2024 represents the deemed cost of the
Almshouse property l£1,721,9621 less loan balances due1£31,4651. A transfer of £128,448
12023.. £178,053) was made between unrestricted funds and endowment funds to ensure that
the endowment fund balance is maintained. This transfer represented the cost of housing
property additions (see note 101 and the repayment of loans during the yearlsee notes 13 3nd
141.
17. Analysls of net assets between funds
General
Fund
Deslgnated Endowment
Funds
Funds
Total
2024
2024
2024
2024
Tangible fixed assets
Fixed asset investments
Net curreTrt assets
Creditors falling due after one
year
Balance 31 December 2024
1,721.962
1,721,962
1,506,106
70,083
130,3691
1,119.264
37,450
386,842
33,729
11,0961
130,3691
1,156,714
420,571
1,690,497
3,267,782
18

The Worshipful Company of Weavers
Weaver5' Almshouse Charities
310ecember 2024
Notes to the accounts for the year ended 31 De￿mber 2024 Icontinuedl
18. Capitèl Commltments and Contingent liabilities
At 31 December 2024 and 2023 there were no known capital commltments or contingent
19. Related parties
The Weavers, Almshouse Charities and the Weavers, Company Benevolent Fund were
administered by a common Trustee, who, at 31 Oecember 2024, was the Bailiffs Wardens and
Assistants of the Trade Art and Mystery of Weavers London Iweavers, Company).
During the year the charity received a donation of £30,00012023.. £30,0001 from the Weaver5'
Company. A proportion of the administration charges paid by the Weavers, AlmshoLJse
Charities amounting to £58,96312023- £51,160) was reimbursed to the Weavers, Company.
There were no transactions with persons comprising the Trustee body.
20. P05t Balance Sheet Events
With effect from l April 2025 the charity has voluntarily de-registered from the Register of
Social Housing Providers under Section 119 of the Housing and Re8eneration Act 2008.
19

The Worshipful Company of Weaver5
Weavers, Almshouse Charities
31 December 2024
ststement of Financial Activities for the Year Ended 31 De￿rnber 2023
Notes
un￿StrICted Endowment
funds
funds
Total funds
Total
2023
2023
2023
2022
INCOME
Income and endowments from:
Investments
42,892
1,107,685
42,892
1,107,685
11,912
Donations
415
Charltable activities:
Residents, contributions
361,780
1.512,357
361,780
1,512,357
340,573
352,485
Total income
EXPENDITURE
Charitable actlvlty
Almshouse accommodatlon
Services
180,623
68,694
69,447
180,623
68,694
69,447
35.591
13,293
367,648
1,144,709
158,838
60,498
52,261
29,215
7,080
307,892
44,593
ManaEèment
Routine maintenance
Depreciation
Maintenance- major items
Total expenditure
Net income/lexpenditurel
35,591
13,293
332,057
1.180,300
35,591
135,5911
Net gains/losses on investments
Net in¢ome/lexpenditurel for the
year
Transfers between funds
54.447
1,234,747
54,447
1.199,156
153,5331
18.9401
135,5911
1178,0531
1,056.694
378,017
1,434,7LI
178,053
142,462
1,462,210
1,604,672
Net movement in funds
Funds brought forward
Funds carried forward
1,199.156
1,840,227
3,039,383
18,9401
1,849,167
1,840.227
20

The Worshipful Company of Weavers
Weavers, Almsho￿Se Charities
31 December 2024
2023 notes for comparative purposes
Tanglble Assets
HOUSING PROPERTY
(Freeholdl
Bulldlngs
Kitchen &
Boller
Ilncl, major
Bathroom replacements
repairs) refurbishments
Roofing
Total
Housing
Property
Totsl
Housing
Property
2023
2023
2023
2023
2023
2022
Deemed cost
At l January 2023
Additions
At 31 December 2023
Depreclation
At l January 2023
Charge for the year
At 31 December 2023
Net Book Value
At Ilanuary2023
At 31 December 2023
714,135
327,355
97,971
425,326
30,0￿ 627,604
1,699,094
14,784
112,755
44.784 627,604 1.811,849
1,530,261
168.833
1,699,094
714.135
24,494
3,571
28,065
56,452
21,266
77,718
6,000
52,847
4,478
6,276
10,478 59.123
139,793
35,591
175,384
110,578
29,215
139,793
689,641
686,070
270,903
347.608
24,000 574,757
1.559,301
34,306 568,481 1.636,465
1,419,683
1,559,301
Unrestricted Funds
Deslgnated Funds
General
Fund
Cycllcal Extraordlnary
Malntenance
Repair Fund
Fund
Total
2023
2023
2023
2023
Balance l January 2023
Net incoming resources
Transfer in respect of current
years repairs and maintenance
Transfer5 to furid future repairs
and maintenance
Transfer to property fund
Unreallsed g3ins
Balan￿ 31 December 2023
112,2771
1,168,842
13,293
159,617
4,201
13,9801
230,677
7,257
19,3131
378,017
1,180,300
135,4501
30,450
5,000
1167,2191
39,765
1.006,954
110,8341 1178,0531
9,299
54,447
232,086
1,434,711
5,383
195,671
21

The Worshipful Company of Weavers
Weavers, Almshouse Charities
31 December 2024
2023 notes for comparatlve purposes Icontinuedl
Analysis of net asset5 between funds
General
Fund
Designated Endowment
Fund5
Funds
Total
2023
2023
2023
2023
Tangible fixed assets
Fixed asset investments
Net current Iliabilitiesllassets
Creditors falling due after one
year
Balance 31 De￿rnber 2023
1,636,465
1.636.465
1.441,048
17,4101
130,7201
1,052,450
145,4961
388,598
39,159
11,0731
130,7201
1,1106.954
427,757
1,604,672
3,039,383
22