Weavers, Almshouse Charities
Charity No: 245453
Trustee's Report & Financial Statements
For the Year Ended 31 December 2025

Contents Page
General Information
Trustee's Report
Independent Auditorfs Report
Flnanelal Statements
Statement Df Financial Activities
io
Balance sheet
li
Cash flow statement
12
Notes to thè Financial Statements
13-22

Weavers, Almshouse Charities
31 December 202S
General Information
Full Name..
The Weavers, Almshouse Charities
Registered Number:
2454S3
Governing Instrument:
Scheme of the Charity CommissioA dated 24 October 1968
Trustee..
The Worshipful Company of WÈavÈrs
Registered Address..
Saddlers, House
Gutter Lane
London
EC2V 6BR
Telephone..
020 7606 1155
Email..
weavers@weavers.org.uk
Website:
www.weavers.org.uk
Clerk to the Trustee..
James Gaselee
Bankers..
CH03re &Co
37 Fleet Street
London
EC4P 4DQ
Investment Advisors..
Canaccord Ger)uity
88 Wood Street
London
EC2V 7QR
Solicitors..
Lee Bolton Monier-Wllli2ms
l The Sanctuary
London
SWIP 3JT
Auditors:
Buzzacott Audit LLP
130 Wood Street
London
EC2V 6DL

Weavers, Almshouse Charitie5
31 December 2025
Trustee's Report
Details of Trustee
The Trustee is the Worshipful Company of Weavers (the 'Weavers' Comp3ny'l, which is
governed by the Court of Assistants. The members of the Court at the date the accounts were
signed, or who served during the year, were as follows..
Mr A.1 Winterton
Mr P.M.J. 8axendell
Mr P.G. Cattermull
Mrl.R.H Baglev
Mr N.P.M. Morris
R.J. Ridley
Ms R Parnickzky lappointed 7 October 20251 Mr L.B. Tharp
H.M. KingCharles111
Mr R.W. Townsend
Mrl.G.Y Radcliffe, o.e.E, QV.R.M, T.D
Mr C.D.R. Collinge
Mr F,J. St. l. Tibbitt5
MrJ.L.C. Winterton
Mr E.C.A.Martineau
Mrs H.5. Wallace-jones
MrJ,F. Nugee
MIT.H.M. Gaddum
Mr J. Garbutt IP, High Sheriff of Greater MrD.R.D. Hopkins
London
Mr P.J.H. Towler
Mr W.1. Makower
Mr P.C.E Morris
Mrs P.C. Ouvry-lohns
Mr G Eastwood13ppointed 25 July 20251
Mr S.C. Combey (resigned 7 October 20251
The following co-opted liverymen served on the Almshouses Committee during the year..
G. Court3uld Inr
Rt Revd. A.J. Proud
T.H. Bacon
Structure, governance and management
The Weavers, Almshouse Charities 15 a registered charity, linked with the foimer We3vers'
Pension Ch3rities and togethergoverned by a Scheme of the Charity Commission sealed in 1968
to bring together many of the smaller charities of the Weavers, Company. These smaller
charities were all dissolved, and their as5et5 transferred into the Weavers, Compènv
Benevolent Fund as at 31 December 2013, hence only the Weavers, Almshouse Charities
remain of the charities governecl by the 1968 scheme.
With effect from l April 2025. the charity voluntarily de-registered from the Register of Social
Housing Providers under Settion 119 of the Housing and Regeneration Act 2008.
Members of the Court of As51Stants are recruited from within the Livery of the Company. A
Selection Committee meets every year tu consider suitable members from within the Livery
and makes recommendations to the Trustee. They will normally have had previous experience
on one or more of the Company's committees. They receive a briefin8 on their responsibilities,
and their attention is drawn to the relevant Charity Commission publications, includlng The
Essential Trustee: What you Need to Know, What You Need to Do."
The Compan¢s Almshouses Committee meets twice per annum to determine matters
specifically affecting the Almshouses. In addition, the House Committee acts as a support to
the staff who provide the day-to-day management. For govern3nce purposes, the charity
generally follows the guidance of the Almshouse Association.

Weavers, Almshouse Charities
31 December 2025
Trustee's Report {continuedl
In 2025, 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.
Oblectives and actlvitles
The object of the Weavers, Almshouse Charities is to provide Almshouses for elderly person5
at Weavers, House, New W3nstead, working with the London Borough of Redbridge to achieve
these objectives. Weavers, House has been providing sheltered almshouse accommodation
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 ￿plaCed and the exterior redecorated and 2 planned
programme of refurbishing bathrooms and kitchens is place.
Public benefft
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 guidance 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,
p3rticulaAy those without families, by providing social events and other personal support.
Achievements and performance
The buildings continue to provide much needed accommodation for elderly persons in the
London Borough of Redbridge, and the prevailing low void r3tè demonstrates that it 15 meeting
the needs of the local community.
Financial Revlew
Total income for the year amounted to £517,85212024.. £505,7181. Charitable expenditure
amounted to £417,23012024'. E367,3771. After gains on investments there w35 net income of
£312,52412024.. £228,399), In addition, £74,105 was also spent on refurbishing kitchens and
bathrooms and replacing boilers12024.. £19,043). This is reflected in the 8a13nce sheet, the
C8sh Flow Statement and note 9.
There was a net increase in unrestricted funds of £276,40212024-. £142,574) to 8 total of
£1,853,68712024.. £1,577,285). The increase was made up of an increase of £137,929 in the
Gener21 Fund12024: £149,760) and a £138,473 increase in the Designated Maintenance Funds
12024: decrease of £7,186).
Cash increased in the year by £74,73312024.. £57,708). The Trustee believes that these funds
provide adequate security to eriable the charity to continue providing a good standard of
accommodation for elderly persons in the London Borough of Redbridge and that the
designated maintenance funds will enable the property lo be maintained and upgraded as
required.

Weavers, Almshouse charities
31 December 2025
Trustee's Report (continued)
Investment pollcy and performance
The charity's investments are amalgamated with those of the Weavers, Company Benevolent
Fund in a sin8le porifolio. They are overseen by the Company's Investment Comtllittee, who,
during the year, wpre advised by Canaccord Genuity. The strategy has a balanced investment
objective and a moderate risk emphasis. At 31 December 2025 the market value of investments
was £1,718,008 12024-. £1,506,106). During the year no funds were withdrawn from
investments12024.' 3 net withdrawal Of E25,0(KJl,
Risk management and principal risks
The a55essment of rlsk is embodied in the management of the charity. A quinquennial survey
is undertaken by the ch3rit¥'s surveyor, and his recommendations are followed up. The
Weavers, Company Audir Committee also carries out formal risk assessments of all the
operations of the charity, with a view to identifying and mitig3ting any risks to which the charity
might be exposed. These are seen as being the effects 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 a5 a going concern.
Reserves
The reserves policy has been established after careful consideration of the charity's likely
ongoing commltments to existing residents, the expected future trends in applications for
assistance and the sources and ieliabilily of income. At 31 December 2025, unrestricted
reserves, including designated funds, totalled £1,853,68712024.' £1,577,285). Free reserves,
being unrestrlcted reserves excluding designated funds were £1,294,64312024: £1.156,7141.
Given the charity s strong financial position, the Trustee has not specified 3n exact level of
target reseNes, but the policy and the level of free reserves are reviewed annually by the
Trustee. The expectation is that the charity will balance income and expenditure, and any
surplus will either be added to the Cyclical Maintenance or Extraordinary Repair Funds to meet
the cost of future planned or extraordinary repairs and mainten3nce or carried forward to meet
future commitment5. The charity has met the Almshouse Association's recommendations for
transfer to the designated Extraordinary Repair5 Fund and the Cyclical Maintenance Fund
during the year1£30,0(K) and £70,4SO respectively).
Related Partle5
The Weavers, Almshouse Charities and the Weaver5' Company 8enevolent Fund are
administered by a common Trustee, who at 31 December 2025 was the Weavers, Company.
A portion of the administration expenses of the charity is reallocated by the Weavers, Company
12025.. £69,739. 2024: £58,9631. This and other related party transactions are disclosed in note
18 to the accounts.

Weavers, Almshouse Charities
31 December 2025
Trustee's Report Icontinuedl
Statement of Trustee's responsibilitles
The Trustee is responsible for preparin8 thè Trustee's Report and the financial statements in
accordance with applicable law and UK Accounting Standards Iunited Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England & Wales requires 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 the incoming resources and application of resources of the charity for that period.
In preparing those financial statements, the Trustee is required to..
al select suitable accounting policies and then apply them consistently;
bl observe the methods and principles in the Charities SORP,.
cl make judgements and estimates that are re3sonable and prudent,.
dl State whether applicable 3ccounting standards have been followed, subject to any
material departures disclosed and explained in the financial statements,. and
el prepare the financial statements on a going concern basis unless it is inappropriate
to assume that the charity wi11 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 and to enable it to ensure
that the financial statements comply with the Charities Act 2011, the Charity IAccounts and
Reports) Regulations 2008 and the provisions of the governing document. 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 and other irregularities.
Approved by the Trustee on 3 June 2026 and signed on its behalf
PG Catermull
Renter Bailiff

Weavers, Almshouse Charities
31 December 2025
Independent auditors. report to the Trustee of the Weavers, Almshouse Charitles
Opinion
We have audited the financial statements of The Weavers, Almshouse Charities (the 'chariWI
for the year ended 31 December 2025 which comprise the statement of financial activities, the
balance sheet, the statement of cash flows, prlncipal accounting policies and the notes to the
financial statements. The financial reporting framework that has been applied In their
preparation is applicable law and United Kingdom Accounting Standards. including Financial
Reporting Standard 102 'The Financial Reporting Standard applicable irn the UK and Republic of
Ireland, (United Kingdom Generally Accepted Accounting Practicel.
In our opinion, the financial statements..
+ give a true ancl fair view of the state of the charity's affairs as at 31 December 2025 and of
its incoming resources and application of resources for the year then ended,.
* have been propeily prep3red in accordance with United Kingdom Generally Accepted
Accounting Practice; and
• have been prepared in accordance wlth the requirement5 of the Charities Act 2011,
Basls for Opinion
We conducted our audit in accordance with I nternatlonal Standards on Auditing IUKI IISAS IUKII
and applicable law. Our responsibilities under those 5tand3rds are further described in the
auditor's responsibilities for the audit of the financial statements section of our report. We are
independent of the charity in accordance with the ethic31 requirements that are relevant to our
audit of the financial statements In the UK, including the FRUS Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide 3 basis for our
opinion.
Conclusions relating to going concem
In auditing the financial statements, we have concluded that the Trustee's uge of the 80ing
concern basis of accounting In the preparation of the firiancial statements is appropriate.
ased on the work we have performed. we have not identified any mateiial uncertainties
relating to events or conditions that, individually or collectively, may cast significant doubt on
the charity's 3bilily to continue as a going concern for a period of at least twelve months from
when the fin3ncial statements are authorisecj for issue.
Our responsibilitles 3nd the responsibilities of the Trustee with respect to going concern are
described in the relevant sections of this report.

Weavers, Alrnshouse Charitiès
31 December 2025
Independent auditors, report to the Trustee of the Weavers, Almshouse Charitles Icontinuedl
Other informatlon
The other information comprlses the information incltjded in the Trustee's Report & Accounts
othèr than the financial statements and our auditor's report thereon. The Trustee 15 responsible
for the other information contained withirl the Trustee's Report & Accounts. Our opinion on
the financia5 statements doe5 not cover the other information and we do not express any form
of assurance conclusion thereon.
Our responsibility 15 to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained
in the course of the aLJdlt or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material 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 performed, we conclude that there is a material misstatement of
this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtained in
the course of the audit, we have not identified material misstatements in the Trustee'5 report.
We have nothing to report in respect of the following Matters in relation to which the Charities
IAccounts and Reports) Regulations 2(X)8 requires us to report to you if, in our opinion..
+ the information given in the Trustee's report is inconsistent in any material respect with
the financial statements,. or
sufficient accounting records have not been kept,. or
• the financial statements are not agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.
Responslbllitle5 of Trustee
As explained more fully in the 5t8tement of Trustee's responsibilities, the Trustee is responsible
for the preparation of the financial statements and for being satisfied that they give a true and
fair view, and for SLfch intern31 control as the Trustee determines is necessary to en3ble the
preparation of financial statements that are free from material mlsstatement, whether due to
fraud or error.
In preparing the financial statements, the Trustee 15 responsible for assessing the charity's
ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the Trustee either intend5 to
liquidate the charity or to ce25e operations, or has no realistic 3lternative but to do so.

Weavers, Almshouse Charities
31 December 2025
Independent audltor5' report to the Trustee of the Weavers. Almshouse Charitles Icontinuedl
Auditorfs responsibilitles for the audit of the financial ststements
We have been appointed as auditor under settion 144 of the Charitles Act 2011 and report in
accordance with the Act and relevant regulations made or having effett thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditorfs reportthat include5 our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a
material misstatementwhen it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in
the agEregate, 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
tnisstaternents in respect of irregularities, includin8 fraud. The extent to which our procedures
are capable of detecting irregularities, including fraud, is detailed below-.
Our approach to identifying and assessing the risks of material misstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as follows..
we identified the laws and regulations applicable to the charity through discusslons
with those charged with governan￿ and other management, and from our knowledge
and experience of the sector,.
we focused on specific laws and regulations which we considered may have a direct
material effect on the fin3ncial statements or the operations of the charity, including
the Charities Act 2011, the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 and Accountin8 and Reporting by Charitie5'. Statement of
Recommended Practice applicable to ch?rities preparlng their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(Charities SORP FRS 1021,. and
we assessed the extent of compliance with the laws and regulations identified above
through making enquiries of management and inspecting legal correspondence. We
corroborated D￿r enquiries throu8h our review of minutes of meetings of those
charged with governance.
We assessed the susceptibility Df the charity's financial statements to material misstatement,
including obtaining an understanding of how fraud might occur, by-
making enquiries of management as to their knowledge Df actual, Suspected and
211eged fraucl- and
considerin8 the internal controls in place to mitigate risks of fraud and non-compliance
with laws and regulations.

Weavers, Almshouse Charities
31 December 2025
Independent auditors, report to the Trustee of the Weavers, Almshouse Charitles Icontinuedl
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected financial
relationships,.
performed substantive testing of expenditure including testing the authorisation
thereof,. and
tested journal entries to identify unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we
designed procedures which included, but were not limited to..
agreeing financial statement disclosureg to underlying supporting documentation,.
reading the minutes of meetings of those charged with governance,.
reviewing legal expenses incurred in the year., and
enquiring of management as to actual and potent121 litigation and clairns.
There are inherent limitations in our audit procedures described above. The more removed
that laws and regulations are from financial transactions, the less likely it is that we would
become aware of non-compliance. Auditing standards also limit the audit procedure s required
to identify non-compliance with laws and regulations to enquiry of the Trustee and other
management and the inspection uf regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise
from error as they may involve deliberate concealment or collusion.
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/auditorsresponsiblllties. This
description forms part of our auditor's report.
Use ofour report
This report Is made solely to the charity's Trustee, 3S 8 body, in accordance with Part 4 of the
Charities (Accounts znd Reports) Regulations 2008. 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 auditor'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 and the charity's Trustee as a
body, for our audit work, for this report, or for the opinions we have formed.
Buzzacott Audit LLP
Statutory Auditor
130 Wood Street
London
EC2V6DL
Date
Buzzacott Audit LLP 15 eligible to act as an auditor in terms of sectlon 1212 of the Companies
Act 2006

Weavers, Almshouse Charities
31 December 2025
Ststement of Financial ActivitSes for the Year Ended 31 December 2025
Notes
Unrestrlcted Endowment
funds
funds
Total funds
Total
2025
2025
2025
2024
INCOME
Investments
45,274
30,000
45,274
30,000
44,766
30,000
Donations
Charitable activlties:
Residents, contributions
Totsl income
EXPENDITURE
Charltable actlvltles
Almshouse accommodation
442,578
517,852
442.578
517.852
430,952
505,718
Operating costs
Administration expenses
Total expenditure
Net income/lexpenditurel before
gain5 on investments
Net gains orn investments
Net incomellexpenditurel for the
year
Transfers between funds
290,922
79,939
370,861
46,369
337.291
79,939
417,230
298,514
68,863
367,377
46,369
146,991
211,902
358,893
146,3691
100,622
211,902
312.524
138,341
90,058
228.399
io
146,369}
15
182,4911
276,402
1,577,285
1,853,687
82,491
Net movement in funds
Funds brought forward
Funds carried forward
36,122
1,690.497
312,524
3,267,782
3,580,3(
228.399
3,039,383
3,267,782
1,726,619
The notes on pages 13 to 22 form part of these financial statements.
For a full comparative SOFA see note 19.
io

Weavers, Almshouse Charities
31 December 2025
Balance Sheet as at 31 December 2025
Notes
2025
2025
2024
2024
Fixed Assets
Tangible..
Almshouse property
Investments
1,757,724
1,718,008
3,475,732
1,721,962
1,506,106
3,228,068
io
Current Assets
Debtors
li
2,871
162,617
165,488
4,009
87,884
91,893
Cash at bank 2nd in hand
Creditors
Amounts falling due within one
year
12
30,931
21,810
Net current assets
134,557
70,083
Total assets less current Ilabilities
3,610,289
3,298,151
Credltors:
Amounts falling due after one year
13
129,9831
130,3691
Net assets
3,580,306
3,267,782
Funds
Unrestricted Funds..
General Funds
14
1,294,643
559,044
I,IS6,714
420,571
Designated Funds
14
1,853,687
1,726,619
3,580,306
1,577,285
1,690,497
3,267,782
Endowment Funds
15
Total
The notes on pages 13 to 22 form part of these financial statements.
Approved by the Trustee on 3 June 2026 and signed on its behalf by.
PG Cattermull
Renter Bailiff
li

Weavers, Almshouse Charities
31 December 202S
Cash flow 5tatement- for the year ended 31 December 2025
2025
2024
Net movement in funds
312,524
228,399
Investment gain5
Deduct.. investment income shown in investin6 activitiès
Add.. depreciation
Decrease in debtors
1211,9021
145,2741
190,0581
144,7661
42,623
46,369
1,138
1,700
Increase/ldecreasel in creditors lexcluding loans)
Net cash from operatlng actlvltles
Cash flows from investing activlties
Investment income
9,121
121,4851
111,976
116,413
45,274
44,766
Purchase of investments
150,0001
75.000
Proceeds from sale of investments
Purchase of tanglble fixed assets
182,1311
136,857
1128,1201
158,3541
Net cash used in investing actlvltles
Cash flows from financing activltie5
Repayment of loans
13861
74.733
13511
Increase in cash and cash equivalents in the year
57.708
Cash and cash eqL¢ivaleftts at the start of the year
Total cash and cash equSvalents at the end of the year
87,884
30,176
162,617
87.884
12

Weavers, Almshouse Charities
31 December 2025
Notes to the account5 for the year ended 31 December 2025
l. Accounting Policies
1.1 Basls of preparation
The financial statements have been prepared in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS1021. The charity is a public benefit
entity for the purposes of FR5102 and therefore the charity has also prepared its financial
statements in accordance with Accounting and Reporting by charities= Statement of
Recommended Practice appllcable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of I reland (the FRS 102 Charities
SORPI. The financial Statements also comply with the Charities Act 2011 and regulations made
thereunder, except th3t the Charities Accountin8 and Reportin8 Regulations 2008 specify the
application of the 2005 Charities SORP, which has now been withdrawn. These financial
statements depart from the regulations and apply the current SORP in order to maintain a true
and fair view.
In prior year5, before de-registration, the accounts were prepared in accordance with the
Statement of Recommended Practice.. Accounting by Registered Social Housing Providers 2014
12018 update) and the Accounting Direction for Private Registered Providers of Social Housing
from January 2019.
The accounts are presented in sterling and rounded to the nearest pound.
In preparing the accounts, the Trustee has assessed whether the use of the going concern basis
15 appropriate and has considered possible events or conditions that might cast significarnt
doubt on the ability of the charity to continue as a going concern. The Trustee has Made this
assessment for a period of at least one year from the date of approval of the financial
statements. In view of the level of assets held, the Trustee has concluded that there is
reasonable expectation that the charity has adequate resources to continue in operational
existence for the foreseeable fLJtuie. The charity therefore continues to adopt the going
concern basis in preparing it5 financial statements.
I n the 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 financial statements,
nor do any estimates or assumptions made carry o significant risk of material adjustment in the
next Iinantial year.
1.2 Basis of Accountin8
Assets and liabilities a￿ initially measured at cost or transaction value. Market investments
are re-measured at fair value at the balancè 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 with
through the Statement of Financial Activities.
1.3 Income
Income is recognised on an accruals basis. Donations for immediate expenditure are accounted
for when they become receivable. A donation is receivable at the point when the charity is
entitled to the income, its receipt is probable and the amount due can be quantified with
reasonable accuracy. Donations received for specific purposes are treated as restricted funds.
Grants restricted to future accounting periods are deferred and recognised in those periods.
13

We8vers' Almshouse Charities
310ecember 2025
Notes to the accounts for the year ended 31 December 2025 Icontlnuedl
l. Accounting Policie5 Icontlnuedl
I nvestmer>t income, including interest, is recognised when receivable.
1.4 Housing property
Housing properties at I january 2014 were restated at a deemed cost on adoption of FRS102
and subsequent additions are stated at actual cost. Depreciation is applied on a component
basis, with different rates used for assets with materially different useful econornic lives.
Further to the deemed cost amendment, foL¢r components are currently distinguished..
Historic structure- 200 years
Roofing- 100 years
athroom and kitchen rep13cement- 20 years
80ilers & other- lo years
For assets with an estimated useful life of greater than 50 years, the Trustee considers annuallv
whether there is any evidence of impairment.
1.5 Fixed asset investments
Investments are included in the accounts at thelr market value.
1.6 Deslgllated funds
The charity has designated funds for Cyclical Maintenance and Extraordinary Repairs. Amounts
transferred into these funds reflect a pro8ramme of planned works whereas amounts
transferred from the funds represent amounts actually spent. Details of designated funds are
shown in note 14.
1.7 Expenditure
Expenditure is recognised on an accrua15 basis. Seivice costs include all expenses directlv
incurred in the running of the Almshouse5. Support costs are included in management
expense5.
1,8 Value Added Tax
The charity is not registered for VAT. In these financial statements, where applicable,
expenditure is shown inclusive of VAT.
1.9 Taxation
Weavers, Almshouse Charities is a registered charity and is therefore exempt from liability to
taxation on it5 income and capital gains, provided that these are expended in accordance with
its charitable activities.
2. Key management
Key management 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 is included in administration expenses alloc3ted by the Weaver5' Company.
14

Weavers, Almshouse Charities
31 December 2025
Notes to the accounts for the year ended 31 December 2025 Icontlnuedl
3. Investment income
2025
2024
Investment portfolio income
Bank interest
Total
43,124
2,150
45.274
43,067
1,699
44,766
4. Donations received
2025
2024
Donation frorn the Weavers, Company
30,000
30.000
5. Residents. contributions
2025
2024
Gross contributions
Voids
Guest room & other receipts
Net contrlbutlons
455,023
114,5651
2,120
442,578
438,428
110.2D31
2,727
430.952
The rent losses from voids were 3Yo12024.. 2%) of the total possible income from rent.
6. Charltable Actlvitles- Operating Costs
2025
2024
Staff costs
Utilities & council tax
Insurance
Loan interest
Office expenses
Legal & professional fees
Regidents, welfare costs
Anyual maintenance agreements
Repairs & Maintenance (General Fund)
Repairs & Maintenance ICMF & ERFI
Health & Safety expenditure
Depreciation (Endowment fundl
T¢Xal operating costs
100,879
61,692
16,138
2,940
6,231
3,737
2.519
13,376
59,360
19,467
4,583
46,369
337,291
83,967
57,923
13,824
2,972
6,251
1,080
2,243
10,713
71,722
2,380
2,816
42,623
298,514
Administrative costs include governance costs comprising audit fees of £10,20012024.. £9,900)
and administrative costs allocated by the Weavers, Company relating to rent, rates, services,
staff and other cost5 totalling £69,73912024: E58,9631.
15

Weavers, Almshouse Charities
31 December 2025
Notes to the accounts for the year ended 31 December 2025 IcontSnuedl
7. Employee information
The average weekly number of persons lexcluding the Clerk to the Trustee) employed during
the year was 212024.. 31. These were all service staff.
Staff costS'.
2025
2024
Wa8e5 and salaries
Employerfs National Insurance
Pension contributiong
Termination payment
other
66,127
6,759
3,165
21,000
3,828
70.662
6,866
3,326
3,113
100,879
83,967
8. Intsre5t payable and slmllar charges
2025
2024
On102ns wholly or partiallv
repayable in more than 5 years
2,940
2,972
9. Tangible Assets
ALMSHOUSE PROPERTY
(Freehold)
Buildings
Kitchen &
lincl. major
Bathroom
repairs) refurbishments
Boilers & Rooflng
other
Total
Houslng
Property
2025
2025
2025
2025
2025
Deemed c05t
At l Janu3ry 2025
Additions
At 31 December 2025
Depreciation
At l January 2025
Char8e for the year
At 31 December 2025
Net Book Value
At I january 2025
At31 December2025
764,957
8,026
772,983
444,369
74,105
518,474
103,039 627,604
1,939,969
82,131
103.039 627,604 2,022.100
31,890
3,865
35,755
99,936
25,924
125.860
20,782
10,304
31,086
65,399
6,276
7L675
218,007
46,369
264,376
733,067
737,228
344,433
392.614
82,257 562,205
71,953 555.929
1,721,962
1,757,724
Additions in the year represented the cost of refurbishing the kitchens and/or bathrooms ir* 4 flats12024-. 1 flatl and CCTV
work5.12024'. works to the plant room boiler and the installation of a new Warden call systetnl, The current reinstatement
cost assessment of the Almshouse property is £10.7m.
16

Weavers, Almshouse Charities
31 December 202S
Notes to the accounts for the year ended 31 December 2025 Icontinuedl
10. Investments
2025
2024
Market value at I January 2024
Additions
Disposals
Realised and unrealised gains
1,506,106
1.441,048
50,000
175,0001
90,058
211,902
Totsl
1,718,008
1,506,106
The investments are managed in a single portfolio with those of the Weavers. Company
Benevolent Fund. At 31 December 2025, the Almshouse Charities proportion of the fund wa5
8.76Y¢12024,, 8.76%).
Total funds available for investment can be summarised as follow5=
Market value 31
December 2025
Market Value 31
December 2024
Equities
Alternatives
Fixed Interest
Money Market Funds
Total
1,527,221 88.89
143,361
8.34
25,088
1.46
22,338
1.31
1,718,008 100.00
1,330,157 88.32
100,798
6.69
75,151
4,99
1,506,106 100.00
11. Debtors due within one year
2025
2024
Relatedparty debtors..
Weavers, Company Benevolent Fund
Other debtors and prepayments
Total
2,134
737
2,871
2,703
1,306
4,009
12. Creditors due wlthin one year
2025
2024
Accruals and sundry creditors
Loan and interest from Fresh PIC
Isee note 131
Total
29.809
20,713
1.122
30,931
1.097
21,810
17

Weavers, Almshouse Charities
31 December 202S
Notes to the accounts for the year ended 310ecember 2025 I￿ntInued)
13. Credltors due after one year
2025
2024
Housing loans for refurbishment scheme:
Loan from Fresh plc
29,983
30,369
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, the135t instalment of which falls
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 greater than one year, £35112024.. £3511 is due for repayrnent in 1-2
years, £1,78812024'. £1,788) in 2-5 year5, leaving a balance of £27.84412024.. £28,230) with a
maturity date in exce55 of 5 years.
14. un￿strICted Funds
Designated Funds
General
Cyclical Extraordlnary
Fund Maintenance
Repair Fur¢d
Fund
Total
2025
2025
2025
2025
Balance I january 2025
Net incoming resources
Transfer in respect of current
years repairs and maintenance
Transfers to fund future repairs
and maintenance
Transfer to endowment Inote 151
Unrealised gains on investments
Balance 310ecember 2025
1,156,714
135.902
19,467
256,915
5,766
115,4271
163,656
5,323
14,0401
1,577,285
146,991
1100,4501
70.450
30,0
174,4651
157,475
1,294,643
18,0261
26,125
213,038
182,4911
211.902
1,853,687
28,302
346,lJ)6
De51gnated Funds
The Trustee acknowledges the requirement to maintain and improve the Almshouse
accommodation and, in line with guidance from the Almshouse Association, has set aside
resources Wlthin two designated funds to carry out major items of cyclical maintenance and to
provide for extraordinary repairs.
18

Weaver5' Almshoijse Charities
31 December 2025
Notes to the accounts for the year ended 31 December 2025 Icontinued)
Cyclical Maintenance Fund
The cyclical maintenance fund is a reserve fund to meet maintenance recurring at regular
intervals, external redecoration and the cost of professional fees such as For quinquennial
inspections to which an annual transfer is made frorn general unrestricted reserves. In 2025,
£70,450 was added to the fund12024'. £50,4501 and £15,427 was spent on fixed wire testing
12024.. £2,380 spent on soundproofing flatsl. The fund also received a share of investment
income of £5,76612024.. £4,502) and unrealised gains of £28,30212024: £8,672).
Extraordlnary Repalr Fund
The extraordinary repair fund is a reserve fund forfuture major expenditure to which an annual
transfer is made from the general unrestricted reserves. In 2025, £30,000 was added to the
furnd12Q24.. £20,ODOI and £4,040 was spent on upgrades to the lightning protection system and
a new oven for the Court room12024.. £50,822 was spent on building works, £50,928 on a new
warden call system and £7.328 on plant room works). The fund also received a share of
investment income of £5,32312024., £6,077) and unreali5ed gains of £26,12512024.. £14,571).
15. Endowment Funds
The value of the endowment fund at 31 December 2025 represents the deemed cost of the
Almshouse property l£1,757,7241 les5 loan balances due1£31,1051. A transfer of £82,491
12024.. £128.4481 was made between unrestritted funds and endowment funds to ensure that
the endowment fund balance is maintained. This transfer represented the cost of housing
property additions Isee note 91 and the repayment of loans during the year met from general
funds (see notes 12 and 131.
16. Analysis of net assets be￿een funds
General
Fund
Designated Endowment
Funds
Funds
Total
2025
2025
2025
2025
Tangible fixed assets
Fixed asset investments
Net current assets/lliabilitiesl
Creditors falling due after one
year
Balance 31 December 2025
1,757,724
1,757,724
1,718,008
134,557
129,9831
1,276,739
17,904
441,269
117,775
11,1221
129,9831
1,294,643
559,044
1,726.619
3.580,306
17. Capital Commitments and Contingent liabilities
At 31 December 2025 and 2024 there were no known capital commitments or contingent
19

Weavers, Almshouse Charities
31 December 2025
Notes to the accounts for the year ended 31 December 2025 Icontinuedl
18. Related parties
The Weavers, Almshouse Charities and the Weavers, Company 8enevolent Fund were
administered by a common Trustee, who, at 31 December 2025, was the Weavers. Company.
During the year the charity received a donation of E30,00012024.. E30,0001 from the Weavers,
Company. A proportion of the administration charges of the Weavers, Almshouse Charities
amounting to £69,73912024- £58.9631 was allocated by the Weavers, Company. There were
no transactions with members of the Court of Assistants.
20

Weavers, Almshouse Charities
31 December 2025
19. Comparative Informatlon for the year ended 31 December 2024
(al Statement of Financial Artivities for the Year Ended 31 December 2024
Notes
Unrestricted
funds
Endowment
fund5
Total funds
2024
2024
2024
INCOME
Incorne and endowments from..
Investments
44,766
30,000
44,766
30,(X)O
Donations
Charitable activities:
Residents, contributions
430,952
505,718
430,952
505,718
Total income
EXPENDITURE
Charitable activities
Almshouse accommodation
Operating costs
Administration expenses
Totsl expenditure
Net income/lexpenditurel
Net gains on investments
Net incomellexpenditurel for the
year
Transfers between funds
Net movement in funds
255,891
68,863
324,754
180,964
42,623
298,S14
68,863
42,623
142,6231
367,377
138,341
io
90,058
271,022
90,058
228,399
142,6231
15
1128,4481
142,574
1,434,711
1,577.285
128,448
85,825
1,604,672
1,690,497
228,399
3,039,383
3,267,782
Funds brought forward
Funds carried forward
21

Weavers, Almshouse Charities
31 Oecember 2025
19. Comparatlve information for the year ended 31 December 2024 Icontinuedl
{bl Unrestricted Funds analysis by fund
Designated Funds
General
Fund
Cyclical Extraordinary
Maintenance
Repair Fund
Fund
Total
2024
2024
2024
2024
Balance l J3nuary 2024
Net incoming resources
Transfer in respect of current
years repairs and maintenance
Transfers to fund future repairs
and maintenance
Transfer to endowment fund
Unre2li5ed gains on investments
Balance 31 December2024
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
20,000
119,3701
66,81S
1,156.714
1109,0781 1128,4481
14,571
90,058
163,656
1,577,285
8,672
256,915
Icl Net assets by funds
General
Fund
Designated Endowment
Fund5
Funds
Total
2024
2024
2024
2024
Tangible fixed assets
Fixed asset investments
Net current assets/lliabilitiesl
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
22