Charity Registration No. 245543
THE ANDROS ALMSHOUSE CHARITY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
One Bell Lane Lewes East Sussex BN7 1JU
THE ANDROS ALMSHOUSE CHARITY
CONTENTS
| Page | |
|---|---|
| Company information | 1 - 2 |
| Trustees' report | 3 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 19 |
THE ANDROS ALMSHOUSE CHARITY
COMPANY INFORMATION
Trustees Mr P Mulcare Mrs J L Hall Mrs C Peskett (Appointed 28 April 2025) Charity number 245543 Principal address The Office Grantham Close South Chailey Lewes East Sussex BN8 4AL Independent examiner TC Group One Bell Lane Lewes East Sussex BN7 1JU Bankers Shawbrook Bank Limited Jupiter House The Drive, Warley Hill Business Park Great Warley Brentwood Essex CM13 3BE CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Barclays Bank Plc UK Banking Service Centre PO Box 299 Birmingham B1 3PF Solicitors Third Sector Law 240 Shinfield Road Reading Berkshre RG2 8EX
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THE ANDROS ALMSHOUSE CHARITY
COMPANY INFORMATION
Investment advisors
Quilter Cheviot Ltd One Kingsway London WC2B 6AN
M & G Charities PO Box 9038 Chelmsford Essex CM99 2XF
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THE ANDROS ALMSHOUSE CHARITY
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The object of the charity is the relief of poverty, in that it provides homes for over 50's in need. The trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting policy for the year. The charity carries out its objectives by providing accommodation required for the needy. The Trustees distribute funds as they see fit to running the charity.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
A programme of phased increases in contributions has been completed to a level, which balances outgoings and enables continuing adherence to the planned maintenance programme, and operation of Andros Almshouse.
Financial review
After charging all costs (excluding gains and losses on investments) the trust recorded a surplus of £40,262 (2024 deficit £22,146).
The investment portfolio decreased by £140,512, primarily due to withdrawals made to fund the solar project (2024: increase of £19,429).
During the year, the Trust invested £227,754 in the solar project.
The trustees considered the financial state of the charity to remain good. As mentioned above a major priority remains keeping the buildings in good repair.
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs and to respond to emergency applications for grants, which may arise from time to time. Unrestricted funds were maintained at this level throughout the year. It is also necessary to have reserve funds for unforeseeable contingencies.
The trust maintains a balanced portfolio to spread investment risk and continually reviews results. The trustees have decided to maintain the present investment strategy and expect over time the current improvement will continue.
The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
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THE ANDROS ALMSHOUSE CHARITY TRUSTEES, REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods The aim of the trustees is to continue with the management of the Properties and the chariWs activities with the support of a paid manager. but otherwise with voluntary work of the trustees in order that the residents, contributions can be kept to a minimum in line with proper stewardship. Strurturei 8overnanee and management The charity is an unincorporated trust constituted under a trust deed dated 25 May 1952. rewritten on 14 March 1994 and updated on 30 October 2002. 13 August 2004 and 3 September 2018.lts objective being to provide and maintain almshouses for needy men and women over 50 years of age. The Board, when complete, consists of 7 Trustees plus an Additional Trustee being: One Nominated Trustee {Chailey Parish Council) Six Co-opted Trustee5 One Additional Trustee (Lifetime Trustee- Mr P Mulcare) The trustees who served during the year and up to the date of the signing of the financial statements we. Mrs J L Hall Mr P Mulcare Mr S Roberts Mr P Ross Co-opted Trustee Addttional Trustee (Lifetime trustee) Co-opted Trustee (Resigned 27 June 2024) Co-opted Trustee (Resigned 12 May 2025} Copted Trustee (Appointed 28 April 2025) Mrs C Peskett All trustees, other than the lifetime trustee and the nominated trustee. are appointed by the Board of Trustees and serve for four years after which period. they may put themselves forward for re-appointment. The trustees meet regularly throughout the year and agree the broad strategy and areas of activity including investment, reserves and risk management policies and performance. The Chair of Trustees has overall supervision of the charity's activities. Other trustees are allo&ited responsibilities commensurate with their individual skills at that time. When the trustees formally discuss new appointments, the following objectives are considered: The need for specialist knowledge and skills in the key posttions to ensure succession. If possible, a reduction in the average age of the trustees. A local background and residence The trustees, report was approved by the Board of Trustees. Mrsj LHall Chalr Date: 2.6/1 i..1...2C.2S
THE ANDROS ALMSHOUSE CHARITY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ANDROS ALMSHOUSE CHARITY
I report to the charity trustees on my examination of the financial statements of The Andros Almshouse Charity ("the Trust") for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
D W Martin FCA on behalf of TC Group
One Bell Lane Lewes East Sussex BN7 1JU
Dated: 15 December 2025
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THE ANDROS ALMSHOUSE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Endowment funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 2 455 - Charitable activities 3 211,133 - Investments 4 10,471 - Other income 3,078 - Total income 225,137 - Expenditure on: Raising funds 5 (925) - Charitable activities 6 185,800 - Total expenditure 184,875 - Net gains/(losses) on investments 11 2,203 - Net income/(expenditure) 42,465 - Transfers between funds (3,200) 3,200 Other recognised gains and losses: Revaluation of tangible fixed assets - - Net movement in funds 8 39,265 3,200 Reconciliation of funds: Fund balances at 1 April 2024 5,159,288 200,800 Fund balances at 31 March 2025 5,198,553 204,000 |
Total Unrestricted Endowment funds funds 2025 2024 2024 £ £ £ 455 100 - 211,133 212,895 - 10,471 10,704 - 3,078 1,197 - 225,137 224,896 - (925) 2,123 - 185,800 244,919 - 184,875 247,042 - 2,203 19,289 - 42,465 (2,857) - - (3,200) 3,200 - 400,000 - 42,465 393,943 3,200 5,360,088 4,765,345 197,600 5,402,553 5,159,288 200,800 |
Total 2024 £ 100 212,895 10,704 1,197 224,896 2,123 244,919 247,042 19,289 (2,857) - 400,000 397,143 4,962,945 5,360,088 |
|---|---|---|
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THE ANDROS ALMSHOUSE CHARtrY BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets Investments 13 5,140,522 189,270 4,924,649 329.782 14 5,329,792 5,254,431 CUrnt assets Debtors Investments Cash at bank and in hand Is 16 4,587 6.177 89.176 20.054 86.998 91,585 115.407 cditOrS. amounts falllng due wlthln one year 17 {18,824) 19,750) Net current assets 72,761 105,657 Total assets less current liablllties 5,402,553 5.360.088 Net a55ets excluding pension Ilabillty 5,402,553 5,360,088 The funds of the charity Endowment funds Unrestricted funds 20 21 204,000 5.198.553 200,800 5,159,288 5,402,553 5.360,088 The financial statements were approved by the trustees on Mrs J L Hall Chalr
THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
The Andros Almshouse Charity is an unincorporated trust constituted under a trust deed dated 25 May 1952, rewritten on 14 March 1994 and updated on 30 October 2002, 13 May 2004 and 3 September 2018.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.3 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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THE ANDROS ALMSHOUSE CHARITY
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
1 Accounting policies
(Continued)
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity.
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings not depreciated Plant and equipment 20% reducing balance Fixtures and fittings 5% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Donations and legacies
| **Unrestricted ** | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Donations and gifts | 455 | 100 | |
| 3 | Income from charitable activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Charitable Income | |||
| Housing contributions | 211,133 | 212,895 | |
| 4 | Income from investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Income from listed investments | 4,867 | 4,406 | |
| Interest receivable | 5,604 | 6,298 | |
| 10,471 | 10,704 |
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5 Expenditure on raising funds
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Investment management | (925) | 2,123 | |
| 6 | Expenditure on charitable activities | ||
| Charitable | Charitable | ||
| Expenditure | Expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Depreciation and impairment | 12,229 | 772 | |
| Share of support and governance costs (see note 7) | |||
| Support | 167,448 | 238,991 | |
| Governance | 6,123 | 5,156 | |
| 185,800 | 244,919 | ||
| Analysis by fund | |||
| Unrestricted funds | 185,800 | 244,919 |
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 7 Support costs Support costs Governance costs 2025 £ £ £ Staff costs 61,429 - 61,429 Rates and council tax 314 - 314 Oil 16,502 - 16,502 Electricity 18,408 - 18,408 Repairs and improvements 48,368 - 48,368 Water rates 5,950 - 5,950 Professional fees 135 - 135 Insurance 3,952 - 3,952 Telephone 3,574 - 3,574 Printing and stationery - 406 406 Sundries 7,181 - 7,181 Event costs 1,635 - 1,635 Independent examination fees - 3,306 3,306 Bookkeeping fees - 1,326 1,326 Trustees expenses - 1,085 1,085 167,448 6,123 173,571 Analysed between Charitable activities 167,448 6,123 173,571 8 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets |
Support costs Governance costs £ £ 55,967 - 296 - 24,847 - 10,464 - 119,642 - 9,582 - 2,135 - 3,410 - 3,149 - - 624 7,666 - 1,833 - - 3,060 - 1,276 - 196 238,991 5,156 238,991 5,156 2025 £ 3,306 12,229 |
2024 £ 55,967 296 24,847 10,464 119,642 9,582 2,135 3,410 3,149 624 7,666 1,833 3,060 1,276 196 |
|---|---|---|
| 244,147 | ||
| 244,147 | ||
| 2024 £ 3,060 772 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, but a trustee was reimbursed a total of £906 for travelling expenses (2024 - £32), £nil for computer setup expenses (2024 - £nil) and £179 for entertaining expenses (2024 - £nil).
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Employees
The average monthly number of employees (other than trustees who are on a part-time basis and who are not remunerated) during the year was:
| not remunerated) during the year was: | ||
|---|---|---|
| 2025 | 2024 | |
| Number | Number | |
| Admin staff | 3 | 3 |
| Employment costs | 2025 | 2024 |
| £ | £ | |
| Wages and salaries | 60,306 | 55,760 |
| Other pension costs | 1,123 | 207 |
| 61,429 | 55,967 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Aggregate compensation | 45,501 | 41,769 |
11 Gains and losses on investments
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| Gains/(losses) arising on: | £ | £ |
| Revaluation of investments | (3) | 19,429 |
| Sale of investments | 2,206 | (140) |
| 2,203 | 19,289 |
12 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 13 Tangible fixed assets Freehold land and buildings £ Cost At 1 April 2024 4,910,000 Additions - At 31 March 2025 4,910,000 Depreciation and impairment At 1 April 2024 - Depreciation charged in the year - At 31 March 2025 - Carrying amount At 31 March 2025 4,910,000 At 31 March 2024 4,910,000 The carrying value of land included in land and buildings comprises: Freehold |
Plant and equipment Fixtures and fittings £ £ - 15,421 349 227,753 349 243,174 - 772 70 12,159 70 12,931 279 230,243 - 14,649 2025 £ 4,910,000 |
Total £ 4,925,421 228,102 |
|---|---|---|
| 5,153,523 | ||
| 772 12,229 |
||
| 13,001 | ||
| 5,140,522 | ||
| 4,924,649 | ||
| 2024 £ 4,910,000 |
A revaluation which was based upon the freehold open market value was carried out by Graves Jenkins, Chartered Surveyors, on 29 February 2024.
The historical cost of the property is £1,432,642.
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Fixed asset investments
| Cost or valuation At 1 April 2024 Additions Valuation changes Realised gains on disposals Disposals At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 Investments at fair value comprise: Fixed interest Equities Alternative investments M&G - Charibond Charities Fixed Interest 15 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income |
Listed investments £ 329,782 18,207 (96) 2,206 (160,829) 189,270 189,270 329,782 2025 2024 £ £ 48,920 42,929 116,490 118,890 23,860 20,248 - 147,715 189,270 329,782 2025 2024 £ £ 1,683 3,599 2,904 2,578 4,587 6,177 |
|---|---|
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 16 Current asset investments Broker deposit account 17 Creditors: amounts falling due within one year Notes Deferred income 18 Trade creditors Other creditors Accruals 18 Deferred income Other deferred income 19 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2025 £ - 2025 £ 997 10,245 306 7,276 18,824 2025 £ 997 2025 £ 1,123 |
2024 £ 89,176 |
|---|---|---|
| 2024 £ 1,203 1,025 575 6,947 |
||
| 9,750 | ||
| 2024 £ 1,203 |
||
| 2024 £ 207 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
20 Endowment funds
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| At 1 Permanent endowments Previous year: At 1 Permanent endowments |
April 2024 £ 200,800 April 2023 £ 197,600 |
Transfers At 31 March 2025 £ £ 3,200 204,000 Transfers At 31 March 2024 £ £ 3,200 200,800 |
|---|---|---|
21 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 General funds Previous year: At 1 General funds Revaluation reserve |
April 2024 £ 5,159,288 April 2023 £ 4,765,345 - 4,765,345 |
Incoming resources £ 225,137 Incoming resources £ 224,896 - 224,896 |
Resources expended £ (184,875) Resources expended £ (247,042) - 247,042 |
Transfers £ (3,200) Transfers £ (3,200) - (3,200) |
Gains and losses At 31 March 2025 £ £ 2,203 5,198,553 Gains and losses At 31 March 2024 £ £ 19,289 4,759,288 400,000 400,000 419,289 5,159,288 |
Gains and losses At 31 March 2025 £ £ 2,203 5,198,553 Gains and losses At 31 March 2024 £ £ 19,289 4,759,288 400,000 400,000 419,289 5,159,288 |
|---|---|---|---|---|---|---|
| 5,159,288 |
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THE ANDROS ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
| 22 Analysis of net assets between funds Unrestricted funds Endowment funds 2025 2025 £ £ Fund balances at 31 March 2025 are represented by: Tangible assets 4,936,522 204,000 Investments 189,270 - Current assets/(liabilities) 72,761 - 5,198,553 204,000 |
Total Unrestricted funds Endowment funds 2025 2024 2024 £ £ £ 5,140,522 4,723,849 200,800 189,270 329,782 - 72,761 105,657 - 5,402,553 5,159,288 200,800 |
Total 2024 £ 4,924,649 329,782 105,657 |
|---|---|---|
| 5,360,088 |
23 Related party transactions
Payments of £60 (2024: £1,300) for website costs and £1,020 for Flooring King were made to Jamie Hall, son of trustee Jackie Hall, on a normal commercial basis.
Payments of £nil (2024: £20,813) for phone and IT systems were made to Cloud Voice and Data, where trustee Jackie Hall worked for Cloud Voice and Data during this period. Included within this was £nil (2024: £15,241) for the installation of the new solar panels.
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