2023-12-31-accounts

Annual Report ALMSHOUSE 2023 *lll Providing guidance, support and representation to almshouse charities since 1946

THE ALMSHOUSE ASSOCIATION glllingbear Ltylge. Maidenhe&d Road, Wokingham. Berkshire feGIO 5RU telephone. [phone]mail [e-mail] website. www •lrnshouse5.oro Registered Charity No 245960 Rwstered Companu No 046782t£ Royal Patrons HRH torm•rly Th• Prln¢• of Wales KG KT GCB HRH Th• Duk• of Glouc•st•r KO GCVO The Board ol Tiustees - 2023 Amba$$adors Ihe Archbishop ot C8nterbury The Baroness Bakewell DBE HonFBA FRSA Pet8r Barton DL The r4t Hon the LL*d 8gith Marogret Caselu-Hayford CBE Tony Collin50n 08E FIH rhe Blshop of Coventry Kevln CrosslÈy-Hcllend FRSL Dan Cruickshank judith Donovan C8E Robert Ourie OBE FRICS Andrew Grant DL The Rt Hon the Lcfd Mackay uf Clashtern KT PC QC FRSE Slr Mlch881 McWilll4rn KCMG hAA BLitt The Duke and Duchess of Northurnber18nd The BarunESS Paisley ol St George's The Right Revd PEtBr Prlce The Lord Shlpleu OBE Simon Smlth The Lord lev8rsoft Slr James Tidmarsh KCVO PIBE Dr K8te Tiller OBE DL FSA BA PhD K4A FRHlstS The Bishop of W8kefield Slr Stanley WElls CBE Peter Wyman CBE DL Andrew Barn¥s ' John Broughton JP Clive Cook Rob Douglas CBE DL '# Quentin Elsl Elizèbeth Fathi Willie Hartleu Russell MVO DL Ichairrnanl D•vid Hèally Iirn Kennedu. Irssion8d 17 nrl Richard Knipe'# IrEsigiipd 16 Sgpl 30231 Pgul Mullis # Tricia Scouller '# Adam Sedgwlck Marga￿1 Stewart '# I'Flrpgncg 9nd GBngr4 Purp959s Subcommittw IF&SPII I- F&GP onlyl I#Th• L￿￿0rd H4ck8tl ￿￿[nOr￿al Tiusti Advisory Bcdy Francesca Qulnt LLB. AKC. B8rr15ter Professor Cameron Swift ftichard Waite Ed Christlon Chiel Ixecul,vo lullan M8rc2ak .917 )d ol Lin)mce Mlcha81 Drake Simon Ling FCA ' Audllors.. gvzzacott LLP 130 Wmd Street, London EC2V 6DL è•nk•rs.. eoutts & Ca St Maitins Office, 440 Strand, London WC2R OQS CO￿ Imapes Irtyn oH￿Tr81 front Tlv•rton Almshou¥•¥ by Xuwm Sh•bono back. St M•ry'J Hgsplt•L Ch[cl￿ter bu Th2r•¥ L•wtar

4LMlii¢tlSE Providing quid8nce. support and representatlon to almshouse charltles slnce 1946 ALMSHOUSES AND THE ALMSHOUSE ASSOCIATION Alm$houM• •r• • ch•rlt•bl• form of g•lf-suttlcl•nt, low-cosl comrnunlty-lad houslng hold In Irust lor loc•1 In n•8d of qonulnelu efforé•bl• houslng. The ablects Df ThE Alrnshouse A890elatloTh iri.. to promot• the est•biishmenL ¢tsntlnu4tlon. •ffIcI•￿¥ •nd etlKtlv•n•¥i ol •1mshtyJ•• loundlltlans to promot• h• prov151on, Impro¥•m•nt, upkgep •nd m4lnt•n•nc• of lmshou¥•i •nd •¥¥p¢l•t•d ¥•rvl¢•$ l•cllltl•. Est8bll$h•d thfouoh phll•nthropu. manllq?d ond ruTh by Indepandent almshause charltlqs and i•d by local volunt•er Irust••s, •lmshtyJ5•S th• oideqt form of eh•rlt•bl• houjlnq. Th•lr hl¥tpry c•n b• ti•¢•d blek owr • thDusind ¥••r. In dqllv•rlng Ih• obl•cti, w• work to.. support our M•m￿lI In prol•eiinq. d•v•loplno 4nd d•llv•rlDo hom• for peop￿ In hou•lng nq•d I•1￿ th• profll• of th• •lmshous• movèm•nt. AlrnBhoui•s •r• unlqu• Ih • 1•o•l i•ns• h•¥• • ¥h•r•d •rnph•¥l• on •ncour4glng cornp4nlon¥hlp Ind Gommunltu. lodau, •pproxlm•t8ly 36,000 wop Ilv• In •lrn$hou$•8. l••dlng lull and Ind•p•nd•nt Ilv••. findlng frl•nd•hlps and ••curlty wlthln th•lr communltl••. Tadu lh• A•¥oelillon •upport4 ryomot•• •nd iepruaint8 e.1.600 Ind•p•nd•nl •lm$hou• ch•rlti••. It guld•¥ on ll 8p•et8 ol •lmhou• mng•m•nt, ¥upFort¥ m•mber ethifltl•i wlth up.to-dit• pollelB• •nd qov•rn•nc• quld•nE•, provld•i i•rnln•rs •nd tr4lnlngi gr•nt• •nd lo•ns •nd rn•k•• r•pr•Mnl•tloThs tp Oov•vD- rn•nt, • w￿1 •• ￿f•rIn9 • ¥Ing￿ point of cont•ct h•lplln•. Th• Alm8ho¢Js• A•$oEl•tlon'$ roo1• w•rll ••tibll$h•d wh•n • gioup of p•islDn•t• rapr•s•rit•tlY•s Irorn London'5 •1rn¥hou¥•• rn•t In th• Chqpt•r Hou• 01 Southw•rk C•th•dr•l In 1946. Th•y torm•d tommltt•• to •f•qu¥rd th• Int•r•it• ot •lmshpuM bulldlhus •nd th• w•ll•r• or th•lr r•xld•nti In LDndon B•lor• long. th5• w•5 •xp•ndid to r•pr•¥•nt •nd ¥upport •ll •lm•hous• ch•Fltl•J In th• UK. Iho•• orlglnll lound•rs ••t th• obl•ct¥ of th• A¥•ocl•llon Ind tho8• obl•¢ti £ontSnu• to lorm th• corn•rston• of our swvlc•i tadiy. Thiough r•l•Sng •w•r•n•¥•. lundr•l¥lng. don•tlon• and lq•cl•i. th• Aiiocl•tlon li worklng h•rd wllh •lmihou8• charltles, loc•1 •uthorllleo ond the Oov•rnment to m•k• It pMslbl• l•r m•ny rnoi• •lmihau•s to b• bulY( to #•cur• flordibl• hou•lng for p•opl• In h￿J11￿0 tod•y •nd lof o•n•r•tlonB to com•. CONTENTS Ch41rm•n'• R•¥l•w PP. K4•rk•tlng And comm￿l￿tIOn• Chl•f Ex•cullv•' R•pait M•mb•r•hlp SIAllitle• 2023 Sliuclur•, 6ovwn4nc• K4•n4q•m•nl Publlc B•n•fll 10 R•9lwl P••r P•F4•Mn14tlv•• 19 Fin•n¢i•l R•w•w R•ipanlbNltl•• St•twn•nt 20 21 Th• Lionthrd Hiek•tt k4•m•il•l Tru•1 $tat•rrvJnt ot Rls Pg11¢1•5 •hd 6ov•ininG• Str•l••¥ 2023-2030 uldinr• 4nd A•¥l¥14nc• 22 21 23 St•t•m•ni of Fin•n¢i•l A¢ti¥iti•• B•l•nc• Sh••1 st•temenl of Ca•h Flgw• Accourtlw Pollcl•¥ No1•5 to th• FINnclil St•l•m•hl• R4 2$ R•pvis•nt•11on •nd Engig•rn• N•w 8ulld6 •nd R•mDd•lllng R•glon41 MMllng• L•llutu Pmuiamm• Frlendi of Th• Alm#h￿￿ Alioelallon Fundr•lglN GMntA •nd L0•Th9 In￿1•neI 12 Aulltov'8 R•pDrl Th• Aimihoum IA•ocl•llor Awlrdg 14 4a Don•lloni, Support ind Sponiorhlp AlmhouM AMelatlon Lg•n¥ And GrnntB Pr**1 or conAuIIAnlA 42 1S 43 1S Adv•rti••m•nt• OUR VISION - for the almshouse model to be recognised as the exemplar form of communlty houslng

CHAIRMAN'S REVIEW It is with much pleasure that we present The Almshouse Assoclatlon's Annual Report and Accounts for the year ended 31 December 2023. I was dÈlightÉd to be r ppointed Chairman Jf The Alrn5house AssDciation In lune d023. As a ch8ritu an In 2023 there was 8 growina reollsatlon th8t Govern- ngtlonal Institution ment ar)d the civil servants wha work In Government with a 77-year h15tor do not fully understan(J the unlque nBture uf alms- It Is uniquelu positioneo to r8cogni5e the debt to thè houses ènd this Is often apparent when Ministers are generations th8t have gcn8 Ltore. its r8spon51bility draftino new legislation, partlcullrtll with reoards to tu those who follow housinll. As new legislation affecting almshouses wos introducÈd throughout the ye81, It bpc8wne Intreasiwlu cleqr that there was 8 need to maxlm15e cur Influonce within Government Some elements of new Bllls, if left urKhgnoed, would h8ve been 8 threat to the Indepen- dence of 8lm5hc4Jse cherilies efficiency of the office buil¢Jing and continue to encoura08 resegrch to Inform the sector and 5h8re best practice Todey. the Association represents 1,600 almshouse chorities providing 29,000 hornes for 34.000 resident5 across the ijnlted Kirodom The work of the movement 15 qOVErne(J bu 8,000 tru5tee5 tho give generously ot thElr tSmE and Bie plvot61 In creallng ccmnijnitles within thè Individual member charities I w•• tru¢k by 4 r•c•nt r•port by th• 8•y•8 8u81n•¥s School whleh Id•ntiri•d thot r•sld•nt• Ilvlng In almshous•¥ c•n h•v• •n •ddltl¢nal 11f•￿In of two Ind • h•ll y•4r. A wond•rful •c¢•l•d• lor our mov•rn•nt. The Assoclation Is In a strong p051tlon to do more for our mambers, heritage and residents 8nd has a roi8 to plau In addressing some ot the key issue5 t8clng sccletu We musl all work tooether to pr8s8rv2 an prompte our almshouses, heritage and IraditlLY)S. I want to ensure thot the Associat10n, which Is prlvSleged to be 8bl8 lo tèke such a lono-tefm vlew, plau5 a leadiry rdp In reali5iDg thES8 ambitions We have given more focus to looking forward and ensurin that the Asscciation. and all that W6 do on behalf of our members, Is here for generations to come HRH Th Ouk• Dr OlouceJl•r's Vlilt lo Uxbrl4g• Unlt•d W•ll•r• Truit, Oclob•r 2023. l arn delightad to report that we have r8cord8d a grèat deal of succes5 In gmending legis18tion duriry the ccnsult8tion st8ge of various 8llls, thanks to the WDrk of the Associ8tion, oJr members ond supporting members of the House ol Commons and House of Lords In the sumrner, I led a delegatian to meet with Theres2 MP, Ihe lormer Prime MinI5tpr, who In turn has hÈlped us, along with at least 100 MPS, In ra151ng issues with the Department fer Ltvelling Up, Housing and Communlties It Is slgniflc8Dt that the voSce ol the almshouse movement is now b8ing heard and recognis8d in Westminster In Ihe autumn, the Board held a Strategy Awau Day to review the lono-term positlon of almshouses over the next ￿ years aDd it was evident that, having 'stre$5 tested, the almshouse model, the role anrj vBlue ot 8lmshou5e5 will Incre85e rather than diminish over this period There 15 likely to be demgnd lor more almshouse charities providing for younger families and indivlduals In need and 8 greater requirement for our memb8r5 to remain commilted to th& wider movernent a5 well 3S their own charities We also Identified the need to continue to raise the profile of almshouses over the coming ygars and extol the value of the heritage they protect, 8s well 85 the oreat human t*nefits they brlng to our coTnrTrunitie5. We are aware that many of our member charities 8re e¥pEfiEncing Increasing wage and utllity costs, particu- lgrlu as 8 result of higher interest r8tes and Inflalion Thes8 costs havp also affected the As50cialiun where we have answered 2,5CKI almshouse 8nquir•s Irom our [r￿rnbers (NEr thE uear as well as providing 58min8rs. training and guidance on a regional basis Dv2r the pest decade th8 Asscciation has only covered 50'A of its costs from mernbership subscriptions, the rem8ining 50% coming trom unrestrlcted reserves. This was an It will be necessary for the Assorlation to esteblish a more robust long-terrn flnenclel posIt￿On, consider the

unsust81n8ble situation and one that I felt had to be addressed lor the long-term viability and service that we offer The recent Increases In subscriptions will result In us covering 75/• of our costs and s&cure the level of service that we provide to our members. The longer-term ambition Is to cover 811 the Assoc18ti0rf5 costs through substriptions W8 8re on track to LEcom- Ing a financiallu sustainable national charity- we are not thorg Yet Mt we ar8 very much he8ding In the right directlLY) h Londvn foi th• ?Q23 AGkl 4nd klgmbr6 Oa¥ Iffllrn 18rtl.. Cllv• Cook. Wllll• H•rll•y Russell. E112Abfrlh Fathl •nd Poul Mulllx. An issue that has concerned me and mu f8llow colleagues for several Years has been our offices 8t 8111ingbe8r Lodoe near Wokiroham, whlch are veru Cramped, sub-standard and no longer fil fDr purp050 We 8re fortunate In having beEn gifted our uffices land adjoining house) bu the late Leonard Hackett, one of the founders of ftte Almshouse Association. Tho Board Is confident thet we can Identifu new tr88hold offices in thp Wokingh8m are8 whilst rn8int8ining Leon8rd Hackett'5 originel legacy. We hopa to complete any move duiing 2024 I thenk Nick Phillips end the Executive Tegm for their tornmitment In Implomenting new strategu and their thoughtfulness around the waus the Assttiation continually strives to be a leading membership organl- 5ation The team at Billingbear has dglivered a great performance over the year th15 Annual Report Is a wond8rful tribute lo thelr dedlcalion, Imaglnation gnd 5h8er hard work. I th8nk them lor everything they have 8chleved over the ye8r In 2023 we said goodbue to Rich8rd Knipe and jim Kennedy Rlcherd stepped cjown 8fter ?5 uears 85 trustee Wè thank him frK his outStènding contribution and especl8lly for his wise counsel whlle a trust8e and Finance and Generèl Purposes Subcommittee Chairman lim stepped down after cuffjpleting four ye8rs as trustèe. wè thank him for his contribution to the Assoclation I would Ilk8 fo p8y frimte lo my pr8dec&ssor, Liz F8thl, who took on the role of Chair during a ch811enging perlod for the Associati£￿. e¥eciallu with the Covld pandernic, and lor stewing us through wllh great empathy 8nd Ipyd2r5hlp The A550Clgtion h45 gone rrom slrength to strength under her leèdsrshlp and l am delighted that ghe has agread to continue as a member of the Eyecutlve Ccmmittee I f881 privileged to be followinu in her footsteps and l arn graleful to all rny fellaw trustees for their ongoing guidance This year we also launched Frl8nds of the Almshouse Assoclatlon and we presented Liz with the first membelship number, 001 1 would encourage you lo become a Fden (see page 45 lor detailsl l am also dEllghted that Ar￿reW Barnes has aoroed lo become VIGe Chairrnan of the Associatlon Finally, I would like to thank our Roygl P8tron5, HRH formerly The Prince of Wales and HRH The Duke of Gloucester. as well a5 our Amb85S8dors Without their continuing supwrt and encouragernent, our echievements would not be wh81 they 8re. A5 ￿ progr855 throuoh 2024 with our renewed vlsion, we have a clear set of strategic obl8Ctives and a pl8n of action I have no doubt thal the Ass(Klation will continue to be 8 thriving hub ol creativity, activity and innovation bjth for the natlon ar￿ L￿r member5. Andrew 8arn88, VIC8 Cholrmgn ol Th• Alm#hous• As•oclatlon •nd Chalr ol th• Fln•n¢• •nd 6•n•i•l Purpo5•5 Subcommltt•• ~It Is • plea8ure to Ehalr th• Fln•nc• •nd G•n•r•l Purposeg Subcomrnltleo. Mu colle•gues and l on the committa• •Mtrr•¢• onthug10gllcally thls k•y functlon for th• Assoclatlon. I b￿1•¥• we 8chleve the rlght b•l•n¢• ol ¢hll*ng• and ¥upport of Nlck. kllk• and th• executlv• tearn. In this 14llnu81 Rpport, uou can read more about our achievements and how we have operated differpntlu to Succeed in our ambition to provide more for our members You can also read about our plans for 2024, which Is the first lull ue8r of our new strategy. This Annual Report contains our full financial rewrt and aCCOUDts, as weil as legal and administrative Information about our Association. Your membeiship 8nd support are The Almshouse Associatitsns future I comm d this report ta you WlllSe Hailley Russell Chairman of The Almshouse Association

CHIEF EXECUTIVE'S REPORT The Alrnshouse Assoclatlon was born out ol the wlsh for almshouse ¢h•rltle$ to protect thÉ valuable ¢harltu mod•1 and support Iruslees lo run ollectlve and •fflci•nl charltl•s whllgt ensurlng the conllnu#llon of tha wond8rful work of our pr•d•c•ssors. Thi5 year has presented the Association and the wider almshouse network with 8 range of ¥cific ch£llenges Governrnent wlicy, a huge rise ID the costs of m8int81ning buildings and great challenges for our member5 fBcruiting the best trustees. The Asscciation has responded to these challenges, engaged with over 100 MP5 8n(J Intluenced D8tion81 wlicu and moved torward 8t 8 pace serving our m&mbers, deliverinc the strategii 8nd r8151ng the glmshouse profile The yèar ends with the Associotion In a robust position, fullu statted with è strong gnd dedic8ted tearn and with clegr direction. The Board. led by Liz F8thi and13tterly by Willle Hartlèy Russell. h8s been a const8nt strenGth, support 8nd guide to me and the te8m The Finance and General Purposes Subcommittee, led by the Vice Chairman, Andrew 8arnes, has maintained a thoughtful and prudent watch on resources. yet been supportive of innovation that enhanEes servlce5 to our mgmbpr5. The Board members additionally uive up thelr time to slt on rnany subcornmittee5 or act as Reoion81 Peer Represent8tives tor whlch the team are very qrateful. gulde on all asp8cts of running an almshouse chority Resources introduced In 2023 include a unlque CPD eccredited online training coursE tor almshause clerks 2nd trustE8S to sit glungside the sulte of more technic81 tralniro course5 offered to members and our one-d811 trust8e tr8inlng course that Is prowng to be much in dem8nd The team has Identiried th8 r8quirernent lor oreeler support for those ch8riti85 In real need In 2023,. manu smaller cherities hove tr￿en Struggling with Ilnancl81 and Governance Issues We h8ve successfully begun delivering a serles of 81mshouse chgrity'Health Ch8cks' this year, compleling over 80 reviews. We have now seen the result5 Ot this valuable enaagement wilh'at risk, tharities turn the COrr￿r and start to thrive In 2023, the Government Introduced many policies that could have had a rM)lentially detrimentui eff8Ct on almshouse charlties. l am pleased to say that through clear 5trategu of engagernent with support rrom our All Party ParliamEnt8ry Group IJIPPGI and senior ￿P5 and Peers. 50rne of the regulation that eould have had negative impact on our members h8s Oesn av8rtad Thè Socièl Housing Act. Levelllng Up and R8gener8tion Act, c￿sume1 Standards, Renlers Reform Bill and many others held Implic8tions for members The dern8nd in this araa has required additional resource for bAernber Service5 and a part-time mernber of stoff hos a[￿inted Our Region81 Peer R8pre- svntatives, drgwn from Ihe 8oard 8nd mernber charities In the country, have been a great asset In leadlng 11 IAssc(iation org8nisedl rEgional events, hosting 275 rn&mtr￿rs and helplng Identify local charities In n88d. Thè campaigning the Assoclatlan carrlés out on thalf af rnÈmbers h8s had 8n effect and 81mshouses ère recoonised in many Government policies and Bills bu name. The A554Xlation15 also now an earlu cDnsulle• to Government Dep8rtment5. Thls has not, howEver, Secured all the changes we seek. At the tirne of writing, w8 are still eng8ging with the Secretary ol state's office and the Department for Levelling Up Hou51ng and Communities to see almshouses properly recognised In the new draltlng of the National P18nning Policy Fr8mework. Throughout the uear, the As50Cl8tion h85 helped rsise the proflle of almshouses and they have appeared in the natlon81 press with le8t¢Jre$ 8ppe8ring In a serles of county magazines. national newspapgr5 SLJch as The Financial Times and The Guardian. natlonal mag8zlnes such as Counlru Life and C(xJntry Liviro and ev8n referenced The ArEher$18bC R8dio 41 storyline. It is alw8ys h8rd to measure the Imp8Ct th8t we hove had in raising the profile but there have been 130.000 public hits on the webslte, which Is 8n Increase of 12% from the previous year The online coverage of 8lms- house5 In 'X' Iformerly Twitterl h8s increased our followers by 20% to 1.053. wilh our other soc181 mdi8 platforms not far b&hind! It is Clear thèt the greater 8warene5s we c8n genergte for the guod work that almshouse ch8rities deliver to their residents and the wider cornmunily. the more skilled arKI commllted people will put themselves forward to become trustees of these great charit185. In 2023. we 8ngaged thè services of rolitica engagement organis8tion, Connect Public Affairs, and 5upwrt from a planning and Ioc81 government advisor two d8ys a week. These addition5 to the tearn have been signifi- cant In building local and national GovernTn&nt 8W8r?- ness or the value of almshouses In the ComM￿lt￿. Member enquirie5 continue tD Increase In complexity, and the updated'Sta￿èrdS of Almshouse Manage- ment, now downloadablE In PDF format, ha5 been much we￿OMeO trJJ mombers 8nLI forms a robust

POLLO 41j.lw Following a revlew of the long-term strategy and P051tion for the organisation, It was agreed that the sèrvice provided by the Association to our members nèeds to continue to grow. This Lèvel of support has been m8int8ined bu a mixture of 0￿r own fundraising and member subscriptlan fees. The Chief Executive, Senior ￿anagerllent Team ar￿ the Board took the decision at the end of this year to litt membership 5ubscription5. that had r8rn8in£d below SO% of our runnlng costs, to take elfect in 2Q24. In 2Q23, WE nolicÈd a growiry commitment from mem- bers 10 support each other and the wider movement Thes8 rElationships have Wn supported through opportunitie5 to Share e%periencÈs during our new face-to-lace tl8lning se5510n5, reglonal meelings, semin8rs and collective events Such as Members Day. It Is clear that members recognise the strong sense ot value In b&ing part ol a wi¢er community, 8 collective voice that through the Association led to chanoes 8t nitiongl level. Our fun4raislng Is critical as we contlN8 to Increas8 the amount ot fun(Js wo u$8 to ￿ppOrt our members In loans and gr8nls. In 2023. the Associalion18unched fundraising c8mp8ign to maintain and boost m8mber services by emplouing our own Fundraising Administr8tor. David Burton, who has lakÈn up tho reins 8nd helped Increase our fundr8i51ng over last year We havÈ set a challenglng target lor 2024. but I •m confident that It can be achieved. We thank our Arnbossadors and funders lor their great commitrrnt to supportiro our ¢h¢rilu. MRH Th• Duk• d Gku¢•*l•r Icontrol •1 W•lls Ilm•hous•¥. In 2023, we welcomed Sir Terry Walte KCMG CBE to spe8k 8t our bi-annual MBmbers Day Conference His prasent811on @nd m•sseo8 were In5piration81 and he .poke with humour and The almshouse movement and the Association ￿re very grateful for the contlnued 5upporl recelvEd frem ur Royal Patrons. HRH tormerly The Prince of Wales and Th8 Duke of G1￿Cester The Duke visited three alm5hou5es In 2023 leaving those charilies with sense of enthu518sm 85 well as helpin9 to ralse the profile of the olmshouse mo¥&ment We were also privileoed to welcome Sir Stephen 8ubb | ) FRSA, leadlno gulde , In charltu development Irom Oxford Universlty, Ilr Alison Pooley, RÉsÈarch l eliow of the Univer51tu af .uffolk and Paul Latham, Ljirector of Pdicy for th8 Charity Commitssion I he event was a gre2t opportunit ror members lo network and engage with th3 A550cI8- tion on fLJturo plans and pollcy The new Chairrnan. Willie Hèrlley Russell laid out his key str8tegic aims for the Associotlon over thè next fèw uears. Tl The A5socl8tion h85 Strong hi5torlc Ilnk5 wllh the livery companies who continue to support the almshouse model In Sep18mber 2023. org8nisations such a5 The Mercers, Ironmongers, Merch2nt Venturers ar￿ many others allended a round t2ble discussion and dinner hosted by our Chalrman, Wlllie Harlleg Flussell ènd CCLA Investment Management Ltd We d15CU55ed ways rorward for the livery companies and almshouse harities and our Extiting future. The Association continue5 to deliver an excellent stan- dard of customer servic8 to mernbers and has valuable impatt Influencing Government policy. where needed In eddilion, almshouses arÈ the leadiro rKganlsations In provlding home5 wh8re companionship and communit remain the central fccu5 and where lonèlinass and Isolation are being eradicated. We end 2023 in 8 confident wsition with a clear strategy to take the Assttialion forward for next decade. 2023 Saw the Association make great strides In our planned strategic aroas - training. Influence, protilg- raising, support services and guidance Th15 succe5S IS sed our excellent staff tearn and 8oard leadership 5upwrted by a strong group of volunteer Regional Peer Representatives, Iuc81 le£ders who display the very best In commitment to support our members, the Associa- tion and d8monstr8tlng profe5$10nalism in 811 areas Nlck Phllllps Chl•l Executive of The Almsho¢Jse Association

MEMBERSHIP STATISTICS 2023 Alrnshouso charities by slz• Membershlp Total numb8r ot mernbers Total ol sitos Members g8inedll1055lmBrgerl 1.576 2,512 0.10 Ow•lllWÉ Member charltles Iflgure8 8pproxlmatsl Total dwellinos rot81 residents Chgritles with a warden 29,a96 33.571 678 D4dW¥LU I¢0• 4￿￿lina• 40 I.WO db•ll th•riu•4. Almshouses wlth Ilstedlconservatlon •r•a Status Membershlp bu countru England W8les Scotland Northern Ireland Channel1518rKIs 600 1,540 32 S22 500 200 Charltu type CheritaiAe company lirnltecj by g¢Jar8nlee cio Unirtorwr81od Reglstered provld8rs 45 93 1,438 285 1CK) 90.- f- 38 ￿r￿E1. Gmde I Corwv8tlon Membershlp enqulrles bu type - 2023 ServlceslEvents - 2023 Semin8rs141- 232 delegates Members Dsu- 189 de￿gateS Webinar5161 477 deleg8tes Tho Almsmuse Wau Training CO￿se5{231- 308 delegates •Regional MeEtlrHJ5 IA550clation org￿nISed)ll1l- 27S deleoate5 OnlirE training cours851111- 761 completed Charlty He81th Checks- 80 Website user5- 130,000 Total enquiries by phonelemail In 2023 2,146 J1Tro• FIMtt¢• P*%ld•rt•. ?1•

STRUCTURE, GOVERNANCE AND MANAGEMENT Th8 Almshouse AssociatlDn Board 15 responsible for guiding the Associatlon and developing and overseElno th delivery of the strategy In doing so. the Board employs and manage5 the ChiÈf Executive Officer, mtsnitors the finances and acts 8s a ch8mpion lor the Associatior) 8nd the almshouse movEmEnt Crucially, the 8oard Ensures that the visian our foundw5 laid down 77 ue8rg ago 15 delivered today.. to Support our rnefflbers, to raise the profile of the 8lrnshou5e rn￿e1 2nd to h&lp preserve the herit8ge, buildings and the spirit of alrnshouses Bo8rd of Trustee aDDointments are managed by the AsS[￿latIOn,5 Nomln8tians Committee which 15 chaired bu PwJl Klullis The Nominations Committee proposes ncrninations for new trustees to the èoard for approval Trustee v$cancie5 8re widelu edvertised 8nd all applications are cOnS￿dered based on skills and experif>rbce ¥8quirpd ebDVg A StF•t•py Aw•u for Th• Alrn•hou•• A¥so¢l•tlon g0•1d, "Th• Bo•fd Is r•spon•lble for iong-lerm stibtegy ind guld•nc• of th• Asiocl•tlDlI. W• •r• • Ilv•ly •nd cornmlttqd t••rn. p••%lon•l• •nd knowI•d0e4b￿ about •lm¥hou¥M •nd th•lf Imp•ct. Klemb•r¥ J•iv• lor m•xlrnum t•rm ol nln• y••rs, io w• •r• con¥t•ntlu i••klno to •niur• th• ch•llEnoes uf lamorrow l ieod • namln•tloni commlttee whlch r•vl•ws •nd propo••• nomln•tlons lo th• lull 804rd. W• h•v• •xc•ll•nt n•w ciThdld•t•8 bllna con8ld•r•d ln 2024." Plul Mullls. Ch•irm4n Qf Nornlnfjllons SuocommItle¢ photo right P•ul klullls IfoiEqroun4 centrel rpl•br41•¥ th• 125th •nnlv•ri•ru ol Dvih•m AkT•¢ Mln•work•r•' Hom•s As$ocl•tlon lof whl¢h h• Is CEOI, wlth Alm$hou•• AJ8o¢l•tlon Chilrm•n, Wllll• H•rtl•y kuiJ•ll Ib8ck row, lerii. PUBLIC BENEFIT The Alm5hous8 As50clat1￿ was established In 1946 to r815e the protile ot rhe 8lm5house movement, to gJPPDrt 811 mern￿r alrnsknu5e charitie5 in their duty of ￿0vid1￿ homes and 2 cornmunity to their rosident5, tu help memter charltle5 protect their buil(Jings and continue to develop more and betler almshouse ccrnmunities The Assoclatlon provide$ support to member cherities by offering a helpdesk, 8 m8nagement guidarKe manugl, template documents, trainiry. seminars. networking OPkN)rtunities. representation at national and local government level, engaging experts to advise on Specific issues, offering 108nS 8nd eMer￿nC￿ granls when needed and pr08Ctively ￿p￿rtIng those charities In most need. THE LEONARD HACKETT MEMORIAL TRUST Th• L•on•rd H•ck•tt M•rnDrl41 TN¥t ILHM71 •xl•ts to promot• Ind •dv4nc• th• rh•rlt•bl• work ot Th• Alrnshou¥• As$ocl•tSon. It Is •n Indep•nd•nt charltu L•d bu volunt••r Iru•teee wlth the mls•lon to support •lm8houi8 charltle• that •r• fiiiing lo d•llv•r #ult•bl• hom•s to th•lr r*id•nt¥. Actlng is • 'tru%t•8 of lost i•iort', lh• tru8te•i lake In etlv• l••d•rshlp rol• In quldlnq th• As•ocl•tlon t••m, •¥¥lstlThq th•m to brlng th• bulldlng%, th• gttv•rn•nc• AAd the fingnc•$ of a chliltu ta • robuit condltlon b•loF• h•lplng to •$t4bll$h a n•w Indep•nd•nt IoE41 b04rd of trusteEs to ovEisEe the long-term luture or the charlty. Th• tru5t••% ol LHMT. und•r the ch•lirn•n5hlp of Trl¢l• 5coullip, h•v• rpvi•w•d th• 191• of LHMT Ind b•ll•v• th•t earller Int•rventlon Is o rnor• •rriclent ind efl•ctlve wau of d•allng wllh ch8rltl•8 noodlnq support. Curr•ntly LHMT15 r•6ponslbl• fov runnlng Th• Alm5hous• Ch4rltg ol Edmund Sawy•r and Others, whlch conslsts Df two ston• ¢otr•g•$ In K•tterlng. In 2022. LHMT carrled out a d•t•ll•d Burveu ol th• prap•rti•s and l# CDnBld•ring long-term optlons wlth the elmshous• ch•rltu. In 2023, LHKII approached Hlslorlc England And th•y prolect.m•n- •o•d •nd fund•d eiose to £100,000 worth •1 work to Improve and eons•fve th• ttlstorlc bulldlThJ$. "LHIIT rem81ns an Important soundlnq board and backstop for charities in cri51s and will alwgu5 have a role In supporllng Tho Almshou88 Assocl8llon and Its members In most need. There may b6 an Increaslng rule lor LHMT as some almshouse ch8Tltie5 8re stru¢gllng wlth recrultlng trustees •né rilsing lunds. Tilcla Scoullèr, Chalr of Tljè L•onard Hack•tt Mèmorlal Trust

STATEMENT OF RISK The BoArd Is ultlmat•ly responslble for 'rlsk'. Day-to-d•y r•sponslblllty for ilsk Is over9een by the CEO and s•nlor $l•if al The Almshous• Assocl•llon but the goard malnt8lns i k••n watch on th• Rlsk R•glst•r. r•gularly chall•nglnq and r•vl•wlng th• hlohest prlorltu rl$ks. Tho Roqlster 15 updated and ievlewed at eyory Board meellrko and Flnance and Goneral Purpos•s Subcommltt•• mwtlng. Th• A$socl8tlpn's prlnclpal rlsk ar•as are as follows.. Asp•ct K•y Rlsk D•scrlptlun Mlllqotlon Owra150ft•1 Information Technoloau Interruptionl ybor-ettack utilising the CRM system, IT support outsourced to a speci81ist W8bsite and myintaining good provider. communication with Regular communic8tion with thE members through the IT provlder. website and ema115 places Cuber Ess8ntlals securttu proces$ high degrÈe of reliance on In place robust IT sustams R8gular 5ecwltu t•sling bu IT support Emeraencu b*k-up plan In p18ce. Fln•ncl•l Loss of fundralslng Income requlred to SUPPOft Fundraising Administrator 8ppointed and ond Inv95tm?nt fur￿tiOns. engaging with donors arKI trusts. Income Subscrlption5 historicallu leM￿r5, fe85 reviewed tu ensure the cover less thon 50A of Association remains fin8nc1811u operating costs guslèinable Charitable trusts locused on Aw8rding grants and 108ns to rnembers 8W8rdin¢ grant5 to charltles In need will be Influenced ty our 8tsIlitu providing suppNt In relation to to replace fund5 cost of Ilving crBIs R•put•tlon•l NEW and exlsting oovernrnent policies negatively affectinu member5 Government policy affectina members and tha Associa- tion Policies Ih8t m8y weaken the Integrltu ot the charlty model. High level engagement with Peers, Ps and civil servants Oirect engagement with S8cr818ru of State. Appointment af 8 ￿litICal eng8gement organisation Clear key me5saoes ￿ tehalf of our memters. Commission to ensure integrity of the almshouse model. R•put•tlon•l P(x)r member charity governance. hAember charitie5 not providing an acceptable standarij of ￿cOMMUdatl and support fgr their residents. embers not engaging with Support Irorn the A550ciation Poor governance through lack or trustees Accredited trainlna programme open lo al members. Accredited online training FooJs on Identifying those mEmbers who might require support Support being d&veloped to attract new trustees to the movernent Operatlonel Procedural and system5 documentstion. Lack of awareness of procedure5 and policlE5. Bo8rd 8CC955 to the A550ClètlQn's policy documents. Ongoing comFd12nce ravlows. Loan and grant policy anij pr(￿edUreS ukyjated Regular senior leader5hlp team meetings. General Data Protection Regulations and policy reviews.

POLICIES AND GOVERNANCE The Almshouse AssocI8tiL￿'s model policies and tEmpl8t8s form a kgy p8rt of th8 guid&nce and support we provide tD our mernber5 to a5S15t them in the 5ucces5ful manaoernent and running of thpir almshause charitie5 ThE dwurnEDts guidance. which can b8 downloaded from our website popul8ted by thp charities, are reviewed regularly by r&levant subject matter experts and updat8d bj the Association as appropriatE Our thanks go to experts an Panel of Consultants whose edvice has proved to be Invaluable during thE uear The Almshous• As$ocl•llon seek$ to provlde th• k•u r•source$ needed bu our m•mbors to SUCC•S5fullu run Ihelr •lmshouse ch•rltl•s. The Asswi8tion's websilÈ Is an Inv21uable tool that enÈbles us to post Important updates and news Items for our members without dElau Our printed public2tion, The Almshouses Gazette and our e-bulletins, which are emeiled to membÈrg who hÈvÈ consented to receive cornwunication via ernqil 8re further means fMJ which we Impart inforrN8tion 8nd guidance With th8 Input of our Internal Pollcu and Engagement Officer and external monitoring services, wè are able tc keep abre8St of dwelopments atfectlng 8lmshDU525 and the 8lmshau5e rnovernent which, when 8pplicabie, sre ¥eflECted in uated or new policies, temp18te8 and guidance documents The 2022 edition of our guida￿8 rn8nu81. St8nd8rd5 of Almshouse H••d ol k4•mb•r S•rvlc•s. lu110n MArczk an8oemEnt wes published an our website In 18nuaru 2023 and has Ilend• • r•glon•l rnoetlng al Whlt•lw VI1￿￿ proved its worth during the year Members have provided excellent W•lton-on-ThAm•i wlth R•2h•l HIIL Chl•l EM•cullV• Offlc•r o17h• Whltaiay Marn•s Truil. feedback 8bout Its cornprehenslv& content and value as an essential reference gulde From the Associaticn's Ferspectlv8, In èddition to providing an90￿r$ to a range of Imporlant questions coDcerniw governence, residents glld property Issues, the rnanu81 Is B means by wttich to ieise standards in almshouses so that re51dents mau contlnue to live In w8rm, comfortable homes that are safe and secure STRATEGY 2023-2030 Havlng completed th8 2018 - 2023 str8tegy ahead ol schEdui•. the Board dev8lop8d 4 new comwehenslve strategu to deal with the changing threats tc the alrnshousp movErnent arKI to tJJild on opportunities to Improve $8rvic8 to mamLw5 ènd raise awartness ol the great V8lu• of the almshouse model Th• 2023 . 2030 itr•tqqy B•t• • cl•ir locu# for th• A••oc14tlon to: prol•ct th• v•lu•bl• •s•t• th•t Ouf m•mb•r hold; th•lr ch•iltu st•lu•. v•lu•# and gov•fnane•. bulldlngs And r•put•llon • •ncaur•g• th• bulldlng ol n•w ￿m$hOUs•S • •stobllshm•nt ol now charltl••. and • h•lp exlltlng Irust••# bulld n•w boards lor th• n•xt g•n•r•tlon of l•ad•rthlp. Muth of th• 8uce••• r•ll•• on th• Incr•as•d •w•ron•gs or th• almshouJ• modd. Tho 2023 2030 strategy h85 50 18r proven itself to Lkp sound, 8nd good progress has already teen mpAe our CPD accredited 1-day tralnino course was launched in klarth and furth$r developEd over th8 uoar An Intra- du¢tory cour58 to complement the existing on- line courses available to members has been prodLred. Charity Health Checks, delivery of kegional Meetings and encouragement of both nation81 ar￿ IDc?I media coverege of aM$h(￿s$S arg also well ur￿erWaU. 8lmshau5e charities In SOME #rpos ore facing the chellenge of recrulting truste8s 8nd long term this wès considered a Co￿ern. It was also recognissd that thB HlmsWse movement is supporting some of the ctyJntru's mosl valuable herit8Ge assels and thè As50Ci8tion wlll work lo raise the profile ol these V8luable natiOn81 buildiThJs. 202£ strategic deiiver8bles will inclJYe Incre85ed surwrt for charities in dSffi¢ullies. increased SUFpJrt for charities with historic building5, helping trustees to e5tablistt robust boards at Ict81 levgl, raising the profile of almshouses, heWing rnembers 8ccess opportunitie5 to build rn￿e almshouses and encouraging philanthropists to establish new alms- huuse charities The Associal￿n will continue to fundraise to enèbie contlnued ￿e￿very of these valuable servKes The strategy Is regularly revlewad by the Board, which a150 held an Awau Dau to CDf)5ider the iong-term viabilitu of the almshouse model After stre55 testing 3geinst future thre8ts and demogr8phics it was held that the almshouse model Is not just fit fN the future but, In many ways, the pertect model for the future- Its strength being tQ 5ecurE wèrm homes In a c105e and frieryjly ¢ommunitu It was widelu felt thet

GUIDANCE AND ASSISTANCE The Almshouse Association continues to receive enquiries frDrn member alrnshDU5e Eharities, both by telpphone 8r)(J email, ranging trom mètters concerning gÈner81 governance to issues relating to residents loans and Grants, energu matters and land and buildings In 2023, a total of 2,&16 gnquirigs wer8 r8ceived, Including 672 from embers of the general public enquiring 8bout applying tu alm5hou5e charitie5 for accomryodation. scheme managers In 2023, 232 delegates Joined MernbEr Services stall and 8 Senior M8n8gement representative at seminars In Sheffield, Gloucester, St Albans and Guildford They corisist of a prog18mrne ot topical Issues relevant to elmshouse charities, prgS8ntgcJ bu swclallsts wlthin thelr respective fields. ThosE who attend also valuÈ the opp)rlunity lo wt Questions to the As50ciation's team during the Q&A session and networking Wlth other trustees and clErks during tw88ks Where possible, a tour of tf hosting almshouse ch8rlty15 8rrènged. The cnarity Heslth Check 15 proving to be valuablé to trustees 8nd clerks wishing to rne85ure the Ferform8nc of their charilies In terms of gDVgrnance. th8 building5. health and satety, resident5 and fin8nce5. Where needed, the Association has subsequently been pleased to offer guidance on those areas of thE Heglth Check requiring attention ¢F4. Bbove Slr St•ph•n Bubb 5P•4ks •1 M#mb•rs D•u, Lr>ndon 2023 lefft Guld•é Tour •fl•r th• fjuiidiord S•rnln•i. Octo￿r 2023. bglow.. Trut••i and Cl•i*s S•mln•r. Glou¢•st•r. 2023, 11 Wè wer8 dsllghtea to organlse Members Day on 15 lune 2023 8t One George Street, Weslminster, London Dur keu speaker. Sir Terru Waite KCfvtG CBE. gave a wonderful, moving presentation about hi5 experiences 8s a thstage Other speakers on the day Wgr£ Sir Stephen Bubb IP FFISA Executive DirectcK ol the Gra(Jel Institute ut Ch&ritw NÈW College, Oxtord, P8uI L8thom of the Executive LeadBr5hip ream of the Charity Comrnission, ènd Dr A1150n Pooley, Research Fellow of the Univ8rsltu of Suffdk. and Its legal status aDd networklng are all part of Our proactive servlce to members Further support for new trustees 8nO clerks has been dglivered through our CPO eccredlted training course. This training ha5 proved to be very popular with m05t courses over-subscribad Additional networking opportunities and support Is oltered through our semin8rs lor trustees. clerks and 10

TRAINING The focus of training offering In 2023 has been the setling up ancl facilitation ol our new cours8, 'The Almshouse W8y' The course objective 15 to provide almshouse charity CEOS. clerks ancj trustees with £ssentlal training to enable thern to 8aopl best practice In fulfilling their duties and turther the 5wces5 of Iheir charities. This one-d8y Interactive trainino course Is designed to underpin trustees. ￿n0￿81ge ol almshouses and how theu opÈr8te It Is aimed at 'new to the roie, CEOS, clerks 8nd Iru5tees as well as those who are looking lo con501id8te thelr knovAedge The tourse Is CPD accredited Icontlnuing Prof8ssion81 Dev8lopmentl and Involves the delegates taking part in tasks and 8Ctiviti8s which brings the sessions to life ès they share their experiences end raise quostions amongst the oroup Aside from gainino knowledge, this treining goes towards increasing the resiliEThce or the almshouse movement and Is g great opportunitu for delegates to meet their counterparts in the almshouse network. rh• AlmihouB• W•u oi•du•t•$ Ifrom IODI.. N•rlh•mplon, Jun• 2023,. Chiiitu ol E112•b•th J•n• 14n•s, 8•dfont. Wov•mb•r 2023.. 4nd L••ds. O¢1ob•r 2023 bclow Th• Almshous• Wiv qrAdwle# •1 Klno fdw4rd Vl & The Rov lo••ph Prlm• Almhou8• Ch•rltu, S•ffron W4ld•ry S•pl•mè•r 2023. In 2023. the course w8s delivered In 12 Ioc8tions across Enoiand, from Maidstone lo Exet8r, Norwich In Rirmingh8m to Leeds 308 tIU5tees, clerks 2nd CEOS attended 23 courses When respondi￿ tu the p05l-course survey, 99% of delÈgatES found the cours8 helpful and th8 tralner knowiedgeebie and engaglnll. and 100Yv said they would highly recommen(J this cL￿r$e to other trustees, clerks and CE05 crr,r The course will continue to run during 202£ In established locgtions, wlth plans to offer11 f¢Jrther afield In Wales, eumbria. NOrthumberlar￿ and Cornwall During 2024, we are looking to start the development of another course to support the recrultment Of elmshouse trustees. The Association a150 provlde5 11 CPD 8ccr$dited onlin@ training courses free to ￿rnber5 through our partnershlp with an onllne trainlno provldgr This Includes a new Association-produced, onllne course titled 'An Intr￿UCtion to Alm5hou5es' This ￿t5 as a scene-SEtter for new-to-the-role trustees ar￿ clerks end Is a precursor to our 1-day training course detailed abov It takes Just ong hour to complote and covers key kno￿edge areas with signp05tiMg. To$tlrnon1411.. "I thlnk th• coursa w•s bflmmlng wlth Inform8¢1on. knowlgdg• •n4J u8•lul factw. •nd was dellv8r•d In 6uch wau that It workedl -An excellent tr81Tr1ng providing me with very useful addltlmal knovdedge as a relatively néw trustee I have fflore confidence to deliver 5UPPOrt to the re51dent5 and ffl8eT duties as a charity trustee" "A v•iy thorough groundlng-. f•l•v•nt Informgtlon près•nt•d ucclnctly and •lllcl•ntlu. A$ w•ll 4¥ eornmuTrle•tlng Informatlon. th• cont•nt 4nd ¢￿t•mI of th• dwd i•1sid •wi•n•ss of th• Import•nce of Skllls, p•rtlcul•rly communic•tlon, ttltud•, compslon. emotlon•l Intelllgence •Trd coTrtrlbullng lo cammunlty. 11 thls tk•s a lot of fOreth￿4ht and prep8r8tlon, Y•qulr•s a sklllqd •nd •uth•ntlc f•rlllt•tvr who l¥ w•lklnq Iho walk. An exc•li•nt courw." "Absolutely 8xcFllenl course Very well orepared arNJ delivered I have never ettended any treining where everyone Is happy to be there Itrainers and delegatesl.

REPRESENTATION AND ENGAGEMENT ThfDughout 2023, we rna(Je significant progress deepeThlng our engagernent with Government and welcomir)o the Support of over MPS. Instigated In many c8se5 by their engagement with our member ch8rities small charities We continue to work with all p8rtie5 to enable Homes Eroland to funrj almshouses, as reuulated by The Charity Commission, and to have almshousES recognised 8S '8flordable housing, in the N8tlonal PIEnning [￿1￿9nCe To ensure MPS gnd Councillors havè all t￿ necessary Information on almshouses at their finoertips, the Association has bJilt a dedic8t8d areg on our website whera statistics and fKt5 on élm5houses can bÈ easilu fountj. Almshouse Asscciation provides setretariat ser- vlces for the All Party Parliamentoru Group IAPPSI on Almshouses This affords 8 foundation of support ror 81ms￿UseS within Parliement with a nurnber of sup- portive K4Ps and Peers who are willlno to light our corner In both the Hwse of Commons and the House ol Lords Followlno a re￿OW bu Patli8m8nt or) APPGS, The Almshou$6 Association APPG15 In dlscussions with other Iike-mindetj organis&tions and our APPG rney well bpcome more impactful through merglng. This wiLi L conflrmed In 2024. The te8m worked wlth supporters In the House of c1￿MOnS gnd t￿ House of Lords to resFond to key concarns, inciudlng challenges on thc dofinitlon of 'afford8ble housing,, Section 108 and 'selective Iicenc- ing,. The Assttiation Ss. however, concerned that the Regulation ot Soc181 Houslno rnodd Is not suitatle for Phllllps. CEO •nd Iru¥to•1 ol th• Assoclallcn 8o•rdm•t wlth Thw•#i M•y MP •t al P•ill•m•nt. NEW BUILDS AND REMODELLING In 2021 w• ••tlm•t• • furth•i 450 unlts w•r• •dd•d lo th• •lm4hous• mov•m•nt •nd miny moi• •r• ¢ury•ntly golno Ihrouoh pl•nnlng, Th• Almihous• Conioillum Llmlt•d IACLI, •n Ind•p•nd•nt orgqnli•tlpn run by •lmshou$• m•mb•ri, eantlnu•d to support manu rn•mb•r• In acc•••lng lundlng fiom Hom•s Engl•nd and th• Gr••t•r London Aulhorlty. It h•s b••n In •xlstenc• for 10 u••rs Ind h•s r•c•lv•d ov•r 50m of fundino lor th• r•mod•lllng or tonstruttlan of ov•r I900 •lmihouus. In 2023, Th• Alm¥ho(ti• A•soEl•tlon contlnu•d to h•lp m•rnb•rs •¢c•s¥ fundlng Irom rn•ny iouic•J •nd contlnu• to ¥•• th• Hom•s Enol•nd r•mpd•lllng fund • • gr••t r•iourc• for m•mb•rJ. Ca$• study A mlsslon to brlnq e 17th Centuru Hospltol In Ufford, Suffolk Into th• 21st C•nturu The UttDrd Almshous85 were origln811y called wo￿5 With an extension end ¢(wnplete refurts'shmenl H05PItMI. They were bEque8thed to the Parish ot Ufford ol each 8lmshous• pl8nn8d, fijll and listed buildlng in 1690, In the Will of Thomas Wood, Bishop ol planning pBrmission was obtained. Whilst a lesser returbishment hed been considered, th15 would not h8v8 PlOVitJed the necessary Space for modern living for older people. some of w￿rn might have rnobility ne8ds. hospilgl for the poor ot Ufford, theu were altered sub- 5t8nt1811y In 1959 when they were converted Into two dwellings 8 further modemised in 1990. In 20a, the trLJSt8es decided to brirKJ the properties up to modern living standard5 Th15 IS 8 dllemma th8t trustees of m8rvJ old8r almshouges are grappling with todau- Q UOU SPWKI time 8nd monay on relatively 5horter-terrn repairs and main- ten8nce, or do embark on e mejor

AmoThgst th8 Mps Wlth whom we have had positive engagement duriw 2023 were TherES3 Klay, Rachael klaclean, MichÉel Gove, Lee R￿￿ey, Oavid Rowley, Aark Harper, David Simmons, Leo Oocherty, Laura Ferr15 IConsErvativel, bAike Amesbury, gen 8radshaw, Mohamrn£d Ya5in. Rachel Maskell (Labourl, Tim Farron and 08isu co0￿r ILibDeml. knowiedoe8blu 8ncJ enthusi?st1¢811y at Members Day 2023 He 2ddressed the significant hislory betwÈen almshouses and philanthropu recognisirvJ thgt almshouses are the oldest form of charltu and hDw working together will protect the Inlegnty of this ￿LUabLe communitu-led housinu rrndel Beyond politics. th8 Assoclatlon work5 Wlth organisations across the housing sector such as the NatIc￿oI Housing Feder@tion gnd The Housino Learning and ImprDvement NElwDrk ILINI, and we contlnue to bulld our relationship with the c￿rCh of England. Working collaboratively with our partners allows us to provide greater services to our rn￿berS 2nd strengthens voice when we cempqlgn on shared Interests M••¢iw wlth thv Lh•rtty Lvmml¥¥lvn 4t AbbJl t0￿1￿L Guikiford In M•y z023. The Association maintains 8 Strong relationship with the Charity Cornmission welcomes Support given bu their excellent team. Paul L8tham, Director ol Polleu tar the Charity Commission, 5pJkÈ A ip•cl•l thanks to our APPQ m•mb•r•'. Slobh•ln KlcDon8gh IAP, Solly-Ann Hirt up. Slr John H•u•¥ IAP Ind Tpm R•nd•ll MP for th•lr ongolno Ltpport. Th•nki •l$o for th• oood guld•nc• •nd Bupport glv•n by Th•r•¥4 kl•y AIP. Lord 8•1(8aron••i Haym•n of Ullock. 8•ron•¥¥ Scott, •nd Lord K•nn•dy, to n•m• lull • f•w. refurbishment project to ensure that uour almshouses are flt tor purpose Into the future? For tha trustees of IM Ufford Alm5htyJ585 It wa5 th8 lotter but this brouahl with It It5 own chelleryes Th8 gemral lev81 of ￿lId1￿ costs had risen 51Gnlfic8ntlu slnce the project WBS wglnellu envis8ged over two ye8fS ago loBd time to gEt all the fundirE In plgce tDok 18 months It twk several rnonths to recelve Bpproval from the Charity Commission to utilise a significant rlion ol the Charity's endowment funds. In addltlon. they wlll also bs utilising their Extraordin8ry Rep8ir Fund Before any work could start, bat surveuors h8d to be 8ppointed to ensure thEre were no bat5 r005ti in the roof Luckily, there were nonè, but thè trustep5 h8v8 d8cided to put up bat nesting boxe5 when the project 15 fin15hed. The truste85 cMs8 8 IKal txjilding cornpanu and 811 trades have been very thoughtful and understanding. This was one of the ¢onsiiYeretions, tooether with cost, ror the award of the contract. Once complete, the Uftord Almshou58s will be fit for 2tst CgnttJry living. They wlll be fully accessible and elluw for ground flo￿ living. if requlred They will have modarn he8tino ènd will be fit for wrpose for at le8St another 30 uÈars The Charity joined the Almshouse Cun5Urtium Ltd who provided expertlse In successfvllu securing a grant from omes Englantj The AimshDusE AssiKiation sl50 revlewed the project In dEt811 and held an on51te meeting with two of the trustees before 4w8rdiry the Charity a 108n of £75,000 tenacity of the trustees to get this project rrw- forw8rd exempllfles the great work of trusts up and down the ccrtjntry IE8ding to community. compassion and companionship for all those I￿1¥idualS fortunate erKugh to livp in an 8lmshoJ58.

REGIONAL MEETINGS 8LUVe hgionli M••¢lnV •t fjlrton 7own Ch•rti 5•ptsmb•r WE3. right W•st k41dlinds R•qlonil Al￿ting 8•rkswdll Alrnahoui•4 Alarch 202 Reg10n81 Meetings are an exc8llent OPPOffunity for representatives of almshouse chariti•s lo meet one another, tind common ground 8nd di$¢us$ current Issu85 Throughout 2023. The Almshouse Assocl8tion supported charitie5 to host 8 selection ot region81 meetlng5 and we gre pleased to repwt that Il h8s b8en a succossful year with an enthusi8Stic respons from nErnb8rs WE metlculwslu planned and organised 11 mBetings. wllh 8n impressive turnout of over 137 memtser charltlgB, bringing loggther 27S trusteEs, clerks and scheme man8gers ~Ai •v•r It w•¥ • oood. ronvlvl•L produttiv• and toplcl m••llno, whl¢h I thorouqhl¥ •ryJoyd. It l• •lwau yood to shir• thoughts ond slr•loglo8 wlth oth•r charllt••. -Thoroughly •nloy•d m••tlng Ltp wlth oth•rs Involv•d In runnlnu Alrn$hous•&" We ar? grateful to all OLJr members who collaboiated with us lo arranoe thgse meetirvJs and Generously offered their 81rn5hcu5es as Ideal venues, with particular th8nks to the Regional Peer Representatives who put 50 rnuch effort Into these Eveiits The feedback we h8ve recelved has been ovarwhelminglu positlve and we 8re dellght8d that these gatherings serve a5 an excellent platform for open discussions on challenges while providlng our memters with updat85 on the almshousé movernent, decarbonls8tlon strategies, ènergy updates and governance. LEGACY PROGRAMME Legocies are the Iileblood of the almshouse movement an mporlant part af our fundraisinG Theu help to Support our Members most in need. refurbish L￿111 new almshous?5 and ensure warm safe secure homes for genergtiong to come. The Association under5t8nds the challenges our members f￿e and we are always looking for way5 in whlch we cen further wpport our member5. In the CDmino ue8rs we antlcipate that demand for our services will contlnug to Increase and to help address this need we have est8blished 8 leg£cg programme Mllny almshouses were established through legaties 8s a result of the foresight and generosity of 88rly philanthropists They provided homes for p80ple In housir)g need which have been changing lives for the better for over 8 thous8nd Leaving 8 legacy to the almshouse movement is a legscy that has buth Impact and longevity A pliqui on th• w411 at Berkgwell Almshou¥4 W•st klldl•nds, honourtno th• •lrn$houg• donorÉ.

FRIENDS OF THE ALMSHOUSE ASSOCIATION In November 2023. The Almshouse Associationlaunched our Friends of The AlmshoLJSÉ Assotiatjon club, taiiorEd especially for indlviduals who share a keen Interest in almshouse5 and a passion for the almshouse movement Friends ol The Almshouse Association enjoy an >rray of benefits, Including a biennual newsletter with unique Insights and updates on the Association's activi- ties, an exclusive Friends nelwoikino event and special I￿r9 of almsthuses ècross various locations In the UK. I IIE ALMSHOUSE We h8ve been delighted with the interest generaled so far, with sorne mernLEr5 generously gifting Friends membership to their colleagues and family We e8gerly anticipate the continued growth of Friends as It becomes an Integral and estsb115tr￿d part of the 8lrnshou8e rnovement. FUNDRAISING, GRANTS AND LOANS The Almshouse AssDciètlDn tundraise5 m8inly from Ch8rit8ble Trusts to sectjre funds to support the Associ8tion and for direct support to almshouse charities that need it m05t Fundraising is vital to the long-term stability ol the Asswi8tion and p18115 kay role In 811owino us to 8d8Pt to evolving ch8118ng8s and Increase Support to oui members member5 easier and rnore enjoyable 8n4 thereby eTrhar￿e the overall well-belng ot residents E￿rY year the A$s(￿latIon awards loans and grants to our members In 2023, EBa4,624 w8S 8pproved In new loans, compared with £350,000 in 2022 Grants approved In 2023 IDtallEd f 78,S90 ccmpored with £71,935 In 2022. In additlon £3,000 wos conlrlbuled lo Bèyes Business School to support the Almshouse Longevitu Studu. Ises page 43 for detai15 of grants an¢J loens macje to rnem￿r charities by the AssDclatianl The funds raised c￿tribUte not only to the upkeep of olmshouses but also to the Impl8rnentation of Innovgtive projects that airn lo make the life ol our INSURANCE to •n Inv•t•d l•gic¥ th•t w•$ l•tt to 7h• Ilm•houi• A•%oclitloft ov•r 65 yMr• •q4 w• •r• •bl• to contlnu• lo pro¥ld• ChrJitm•o girt to dlm•hou r•ild•nts ov•r y•wJ old •v•r y••r. lullllllny th• wl•17vs ol th• u•n•roL*J b•n•f•rtor. bfft At L• P•Monn• Homi• Ch•th• Srn • ehrt•tm•• vou¢h•rl• girt•d to 98 oldr••ld•nt Ivu. M•mb•rs Ar• •llglbl• to Joln the compr•h•nslve •lm$hou$• Ingur8nc• sch•m• admlnlst•r•d bu two mAln bruk•rs.' • Grout In$ur•nc• Brok•rs Llmlt•d IGroutl, whlch Is now pArt of Access Insuranc¥. who$• •lmshouse pollcles are under- wrltten bu RouAI & Sun Alll•nc• Insuranc• Ltd IRSAJ, Our Legacy Progr8mme en5ur8S th8t Intjivldusls who leave 8 gift to the A5scciation in their Will 8re helping to protect precious alrnshous2 buildings for the future a5 well a5 5upportinq new devEiopment opportunities. Hlgos Insur•nc• SorvJces Llmltvd IHlgo$l, whos• pollcl•s Ar• underwrltlen by Ecclosl•stlcal Insuranc• Ofllce Servlce$ plc. We will be promotlng our Legacu Programm8 during 2024 and encouraging naw phiianthroplsts to help us navioate new challenges. adapt to evulviro nEEd5 and cre8te18Sting positive change for our member charities ror the benefit of future generations just as the philanthropists of yesteryear have done before Durlng the y•ar. Th• Almshouse A$so¢latlon recelv•d donatlons of £30.000 frorn Grout and £30,000 from RSA and a donotlon, as wall 8$ $ponsorshlp. of £fs.792 Irom Hlgos. 15

PR, MARKETING AND COMMUNICATIONS Over the p85t five ue8rs. the primary message frorn The Almshouse AssDeiation pri gnd Marketlng team hBs b8en letting everyone know just how good almshouses are Those In the almshouse world already know It, but there w85 8 lot of work to be done In the public 8￿n8 We are deliahteo to sh8re that our commitment to raisiry profile of the almshouse mcwement has contlnued to uield ￿SItive results In 2023, gainin9 even more allention and coverage In a landscape where vi51bility Is hard-won. amidst the myriad of businesses and charities vuing for attention, almshouses are gradually being reco9nis8d as a groat ccrnrnunity asset Our message has reached a variety of media platforms. from Ioc81 news to national COVEf3ue, even extendiryJ ta radio and television, Ihrusling almshouses Into the spotlighl A particul8rly eKcitlng devElwmenl unfolded In Oecember 2023 when. after Year8 of persistent effort, almshouse5 became an Inteoial part of the storyline on 8BC Padio I's The Archers The culmination of tttis Inclusion marks a significant achievement and 2clds a captivatlng layer to our story We eagetly anticipate sÈeinp how this storyline unfolds In thtr coming epis(Mlesl These mllestones ere a te5tarT)ent to Ihe dedic8tion and hord work af our team 8nO we loyjk forward to bulldlng on this morn8ntum in the months ahegd ROYAL VISITS Th• ¢onllnu•d commltm•nt to •lm¥hou••• bu our Roy•l Vlc• P•tron. HRH The Duk• ol Glouc•il•r wos ovld•nt In hlB Att•nd4nc• ml thr•• Rou•l vlslt• to •lmshou$•s. m•rklng • c•nl•nnll mll•8lon•, In olflcl•l op•nlng of a n•w d•v•lopm•nt •nd c•l•br•llng • fundlng Inltl•llv•. • Th• Courlouid Homes of R••t. Es14•X On 3 Octob•r 2023. HIS féou•l Hlghn•#• prtlclpt•d In th• c•nl•n•iy 1•stlvlll•s •1 Th• Court•uid Hom•1 of R••1 In Ess•x. Th• vlslt •ncomp•¥$qd l•scln•tlng tour of the fé•adlng Rocm, 4dorn•d wllh hlstarlc•l plctur•s, ar¢hll•ct's pl•n ind th• Courl•uld famlly'z ¢•ptlv411na hl¥loru, •* w•ll •1 * vl•lt lo • r••ld•nt's hom•. HRH Th• Ouk• ol alw￿•t•r m••t$ r•ild•ntx it Ossullon Court rn•how•• In Vxtrrld90 Iabcvel Ind vlFItE Court•uld Hom• ol R•#t, E•s•x Irighll •nd W•41s Almihgu••¥ IOelo¥vl. The Clty ol Wells Almshouse5, Somgrset On 16 October 2023. HI% Roy•l Hlghn•$J vl$ll•d Th• Cltu ol W•lls Almghous••. •xplorlnq th• m•dl•v•l bulldlngs, g•r¢Jens. chapel •nd Gulldroom •nd •cc•pllng an Inyltatlon to vl•w • r••ldent'J •P•ftm•nt. • Vxbrldge Unlt•d W•lf4r• Trust. Uxbrldg• On 20 Octob•r 2023 HIS Royal Hlghness attgnd•d th• aff Iclal op•nln9 01 Ossullon Court, • n•w •lmshou$• d•v•lopment by Uxbfldg• Unll•d W•lfare Trust, cornprlslng 20 metlculouslu deslgned •lmshous• •p•rtm•nts. Th• vi$ii Includèd a guld•d tour ol the alm•hous•s and 4 dl$pl•y ol 4ppl• tr•e5. eBch d•dlc•l•d to • r•4ld•nt. W• were algo dellohted and honouied thal HRH Th• Prlnc•ss Roy•l opened new almshouges èt Thè Cutbush & Coff•ll Charlty In MBld5ton•. 'Il Is a gre8t honour to welcome OLJr Roy81 VKe P8tron to our member charities. The Duke seems genuinely ImprEs59d by the wonderful 3rchite¢ture and charity histories that are the hallm8rk of the alrn5hou5e moveffjent. They c3try wlth th8m centuri85 of living h8rltage snd the stories of hundreds oi lives that weave the fabric of thesè micro-comrnunities.. Nlck Phlllips, Chief Executive

2023 hlghllghts Country Life 5erl•$.. The Ewelme Airn$houses IOKfordshirel aitiEle In Country Life maga21ne, Februaru 2023, followed the success of a series of three articles about Wiltshire almshouses in Wiltshir8 Life maga2ine ID 2022 Writer, TU￿ Kael eKplored the medieval 8lrn5hou5es Set LJP by Chaucer's granddaughter that are sfill flourishing tod8y ￿Ore Life m8oazines have been approached 8nd additional articLes across the country have been secured tor future editions. published on 22 K4ay 2023 The he8(Jline revelation. IndicBting that living In an almshouse could extend the lifespan of Its residents bu as much 85 two ènd a halt yÉars compared to their counterp8rts in the general population, captured the attention of manu media outlets includirw 85C Irgland, Housing Industru Le8dEr, Newsweek, Ruwal Service5 Network Yahoo Npw5. N•w Ch•lrm•n Wllll• Hartl•y Russ•ll-. A widgly distributed news release ahead ol the ChHrim8rf5 appointment In Jun8 2023 8ttr•cled plsnty of loca 8Th specialist inteiest Willie made himself available for several excellent Interview5, including br08dcast radla. ayes B(tslnMs Sch&Jl Longavlty stud￿ Th• Gu•rfl•n.' Tlii5 re￿￿rCh. Initl8te(J by The Almshouse Association, gained significant traction when The Guardian reached out for Bn exclusive kntervlew, whlch was subsequ?ntly oun¢iy Llvlnq.. Susy Smith's crAumn. 'View frc here,. in the lune 2￿3 issue of Countru Living, opened with hèr Caption th8t 'almshouses are Just 8$ Important today and, In the futur8. as theu wero In thè past.. Fln•nclal Tlrn•J,. Interviews, connection5 and rNltiple visits to The Ch8rterhouse, Wells, St Oswald's and Ap￿eb¥ Blue almshouses, re￿Ittd In è wèll-lnformed and positiv8 articl? In the 15 September 2023 weékènd edltion. R•glon•l A4a#•iln•s.. Several articles for loc81 wbllc8- tions were printed In Round & About la monthly magazine 811vared to hornes In th8 South of Ewlandl 8nd Ch81font' Community Together magazine. Th• Arch•rs - 88C Radlo 4.. We wgre dellohted to hedr that an almshouse wa5 5ugge5t8d for one of the ch8racters In The Archers, wttlch has an 8udIe￿e ol approximatelu five million I'h, Mdrkuliriil riDII l.'TrmmJnicalior6 C￿lIn￿ nverl2al ill Appleby Blue development, Southwark 'In lioht of the Almshouse LonGevitu Studu, it is evirjent that alm5h(xJses like Appleby Qlue are more than just hDusini. thoy provide 8 community-bssed lifestyle that positively Improves the well-beino and10Tr3gVity of its residents. This study highllghtS the role of almshouses in providing not only affordable housing but elso fostering a supportive environment whore friendship and Indap8ndent living blDSSOm. It show5 that fftsidernts from le55 well-off b>ckground5 Can reach average longevity. onrJ sometimes excted it, Ir theu Ilve In an aIms￿use environment or 51mtlar. As we reimagine and expand the almshouse model in our rapidly ageing society, we are committ8d lo using the evidence from this research lo preserve tttis traditional form of social housing Bnd also ensure its growth. rhe new Appleby Blue almshouse devÉlopment showcases 0￿., VlJCion for a lulur8 whgre ￿dEr pgople have greater choice for retirement living In places where they can sustain indepen¢Yencg and an active life In their local communltu. With our own rosearch activities already uThJer- w8y, we look forw8rd to sharing the successes and le5rnings from Appleby Blue, a5 we continue to advocate for the provision of MO￿ almshoLtses to enhBnce ttE lives of dder people In our comrwlllties" Martyn Craddock. Chlef Executlv•, Unltèd St Savlouis

PR, MARKETING AND COMMUNICATIONS I ¢ontlnu•dl Our pr4 8nd NAarketing work also included stories and 8rticles from our members These take pride of lace on our website sacial media feeds and in The Almshouses Gazette Longevitu Study commissionecl by The Almshouse ssociation and rele8sed In May 2023. Our soci81 med16 accounts are Steadily Increasing their follower5 and before 2083 came to a close, we were able lo celebrate gaining our 1,OOOth follower on X Itormerly Twitterl, with our Linkedln, Facebook and Inst3gram accounts not f8r behind. They are 811 proving to be effective mediums for spreading the word, gaining support and furthering engagement. We always ensure the Gazotte Is full of guidance and halpful 8rticles for members 8ncJ In addition to this. we showcase our members. stories. We publish the ch811eng8S 8S W81185 the successes, 8ward winners, journeys and their communlty work, èlw8ys higNighting the difference almshouse charities. their volunleer5 their staff are making to the lives of almshouse residents and the local community. The Almshouse Ass(t18tion logo continues to pr85Ent a strong Identity Alongside our website an4 wclal mediè accounts, new Init18tives such as our Friends of T￿ Almshouse Association club ènd Leg8cu Progr8rnme are helping 5pre8d branding further afield. All communications to mernbers, such as fol(Jers, presenlatlons. booking forms and e-bullglins, are eosilu IdÈnlifiable with i)ur IDgo and brarKJing. Events such as ￿AeMberS 08U, the AGM, workshops, semln8rs. region81 Two veru popu18r mèmber stories wlth the trade and national press were Southwark Charity'5 new Appleby Blue development (see previous pagel and the John Mord8n Centie Social hub. Both recelved unprecBdpnt8d media attentlon, in conjunction with the Ba¥•s 8usiM55 SchtyJl Almshouse AMBASSADORS Amb4191dorg r•pr•8•nt • tiucll compon•nt èl Th• Almshou•• Assocl•tlon's str4t•gy to •l•v•t• th• prollle of th• almshou8• rno¥•m•nt. As well i¥ ￿ndIng th•lr Infl¢J•nc• lo th• c•u8•, Amb•ss•dor$ contrlbute thelf Indlvldual specl•llqt •xpertls•, for whlch w• Ire Immgnsvlu th•nklul. They collaborate wllh us by.. • promoting th• •ndurlna ¢onc•pt ol loc•1 lrnshous•s for lo¢•1 communltl•s ¢omm•ndlng th• •fforts of m•mb•r Iru81••s who ov•rs•• th• 41mihou•• ch•rltl•• • uslng th•lr •xt•nlv• knowl•dg• •nd n•tworks to prop•g•t• our m•ssig• •ngqlng wlth Gov•rnm•nt to advocat• th• •lmshouse movement's Inter•st¥ •nd r•l•• p•rtln•nt qu•sllon• • pl•ylng • l••dlng rol• In m4nu ol our cimpql¢n•. A full Ilst trf our Ambèssadors cèn be found on the Inslde front cover of this Annual Report. Introduclng Arnbgs$8dor Slmon Smlth Simon has eKperigncgJ yet anothgr extraordinarily busy year, dedicBting h15 time to delivering highly Infvrmative t8lk$ on almshouse5 and Emphasising their historicol significance ond vElue to Iuc81 group5 in Hertford5hir8. rLS Slnce th8 Inception of his pres8ntations. he has engaged wilh 8pproximatelu £ 000 8ttendees. H15 unw8vering commitment plaus a pivotal role In ad¥8ncing Our mission to raise awarengs5 about the almshouse movement and we are tjelighted with the p051tive re5por)5es he has received frryn local communitu audiences. We extend our warm thanks to Simon for his st8adfs5t dedication. We ar8 enormously grateful to 811 our Ambassadors. Whether working discreetl¥ behIr￿ the Scenes or playing a prominent role. each contributlQD Is Invaluable to the almshouse movement and we look forward to working with them over the coming year. Slmon Srnlth •t U3A rneetlng In St Albans. lulu 2023.

STAFF meetings and training CDurses all provide goo￿ p18tfDrms to present our vnilied Imege. thereby building recogr)Ition, trust and communlty Management of the staff at rhe Almshouse Assoc18lion Is delegated la the Chief Executive. There are 13 staff, some part-time, 8mounting to 10 fvll-time equivalent POSt5 An eneigetic, enthuslastic and Innovétiwe tearn, th8 Staff work very 6ff8Ctively and have a strong sens8 of person81 rewnsibilitu to our members. Directlu ￿PPorting the Chief Executive Is Mike Drake, Head of Financ8. whose knowledgE and wisdom Is a tremendous 8sset to the A550ciation Paike leads the financial side of the organisation. providlng sound ènd meesured guioance to the CEO and Board, ès well as supporting mem￿r5 and staff on 8nu aspect of financial guidance outside the mtsvernent. Thère will always be more work to be done wlth regard to raising the profile of almshouses but we feel that progress has deflnitelu been m8de. In 2024, we wlll b2gin to turn our attention to Ph85e two of ￿r marketing strategy wh1ch InclLJdes Iwking for the next generation of philanthropists, the prèservaticn of our heritage and a more ￿Tr-depth look into why almshouses arÈ making such P0511ive difference to people's Ilves We are excited about where 2024 will lake us Ju118n Marczak, Head of fvAember Servlces, Is dedicalad lo helping trustees be as effectlvè 8nd Èfflcient 8s they can be He has many years of almshouse leadership experience and has led the Member Services team In delivering excellent st8nd8rds while seeking new ways of workinq to support member charities Mlke and lullan have both m8de strong 8ppolntwents in the team end trained and enthused new staff to deliver well In thé splrit of excellent eU5tomer sarvices and profgssion81ism REGIONAL PEER REPRESENTATIVES The Marketiry an¢ PR enjoyed bu the Association are led by Karen Morris end Gerry H8rmon, who are having greèt SUCCgS5 raising our profile In line wlth our strategu Nèw appointments In 2023 Included an Office Manager and PA lo the CEO, Angela Waters who h8S t8ken to the role well, supporting Nick Phillip5, the Board and the t8arn In all areas, Including the recent upgrade of Cyber Essentials. Also joining the team were Charles Fifield, Policy an(J Engagement Officei, 08vid Burton, Fvndr8lsinG Adm￿nist10t0f jacqueline Smith. Fln8nce Officer, Harriet Lemon, Training and Developmont Olficer, and lo Williamson, Charitu gupport Officer. who will be 8SSlSting charities wlth Chsrlty Health Checks and one-to-one guldBnce "I c8nnDt Speak highly enough of my $18ff. This year they have worked as a Strong, dedicated 8nd resourceful le8m, each taking personal responsibilitry for dglivering their pait of the slr8legy dno the strategy as a whole. They enthusiastically assIst each other in d8livering the best service to rTTrembers, They are a privilege to work with ' Nick Phillips, Chief Executive A5sLriat￿ ￿1cMet￿L￿ ano Wional Pefjr Represent&live rar It* We51 MNllands. Uawd leadiry a reg￿r￿( mepti Th• rol• of a R•gion•l P••r R•pr•#entatlv• l• volunt•iu posSlltyn ttr•v•lop8d to glv• la¢al Fuppart •nd Quldance to Qui member charltl•s •cf055 the UK In th•lr r•sp•ctlv• reglons. Th•y 4r• experlenced In running almshaus•s ond are on hand to $lgnpost trustees and cl•rk5 In the dlr•c- tlon of h•lp and suppoit wh•n needed and to off•r • Il%t•nlng eai. Reglon41 P••r Represent•tlves are Instrument•l In th• organls8tlon of k•gffjonal Mo8llngs. and work Closely with the Associetlon to support m•mb•rs ahd achlev• a posltlve outeom• to •fiu chollenges they m•u be faclnq. Our Ih8Mks go to all R•glonal Peer Rapr•s•nt•tlv•s lor ill thelr support and hArd work In 2023. 19

FINANCIAL REVIEW Overvlew The Statement of Financial Activities shows that Ttte Almshouse Association's net 105$ before Investment gains for 2023 w85 £142.43812022 net 105s E131.3991. Net gains on Investments amounted to £870.35612022 net loss £704,4451. A designated Investment tur)d which amounted tD 2,453,733 on 31 December 2023 was held to generate incorne lo cuvgr som8 of the shortfall betwe8n members, sub5criptiws and the annual cost of running the Association. Klembers, 5ubscriplions In 2023 covered only about half the cost ot ttr￿ As50cI8tion's cheritable activities and the Association h8s r8i5ed mernber5 IEes In 2024 to redLre the annual net expendlture. Tot81 furids as at 31 December 2023 were £12,672,333 12022 £119&&,4151 divided belwpen unrestricted, restrlcted and endowment fund5. Of that total, £9,159,86012022 £8,5￿,?47) Is Invested In various forms and £3,277,27612022 £3.018.3891 had been lent to rnernber charities. A designoted termlnal re58rv8 fund of £A60,000, equal to half the total annu81 expenditure, 15 held to cover the cost of anu Iiabllities arislng In the event of the termin8tKJn of 8Ctiwties. Nel expenditure before investment gains was £160.529 in respect of unrestrlcted tunds. net Income of £15,871 relating to restricted funds and Income of £2,219 in respect of endowment funds. The Assoclation's Strategy Plan on p8ge 9 s8ts out thp Association's plèns to enhance the support provided to member charities and to develop s•rvlce5 During the uear £53,468 of the reserve Was Utili5ed. leaving o reserve baance of É331,493. Tot81 Ineomè of £893,469 was up 8.6% primsrily due to the Income aener8ted bu th8 As50ciation'5 new training c￿r5e 'The AlMSh￿se Wau. and additionoi public fundraising donatlons. Members, subscriptions we18 up 4.9% on Last year. Th8 remaind8r of the ￿reStriCted funds aft?r 811owing for tthse Inv8StEd In tanglble fixed assets CC￿stitut8 the As50ClatiDn'5 Iree reserves, which arnounted to £187,086 and 1s1&5S than three montws running c05t5. Dividends receivable from investments w8re down 8.1% as 8 result of a decline in dividend yields on the Association's Investments following the cost of livir crisis arM18n Incre8se In energu prices due to th2 war in Ukralne Restrlcted funds Income from all sources aM￿nted lo £158.830 12022 £122,6381, this Increase was primarily due to hlgher public fun(Sraisiro donations. Total expenditure of f1035,907 was £81,973 higher than the previous year mainly due to 8n Increase In staff costs to support member services and professional fEes to SUPFX)rt the almshouse movement in parlièmentaru and statutory lew cjiscussions. Restricted funds are hEld to provlde loans and grants to member charities for almshous8 Improvement or development As set out In Notè 9 to the fiDaricial statements, some of these fund5 are for specified 8lm5huuses, groups o181mshou5es gnd regions. with the remairKler av8118ble to all membEf5 EndDwment funds are held to provirje income for specific purposes. The nurnber of grant 8nd 108n èpplic8tions receiv8d from members Increased significantlu In 2023 compared to 2022, as members looked to Improve or develop almshouses following e slowdown In work d(Jrino the Covid pandemic. L08n5 and granlg Ère provlded to members when other rces of fundi￿ have been fully explored The policy Is that loans are Interest-free and gener811u rep￿8ble over e 10-ye8r peric￿, and grants of up to £25,000 gre reserved for those charities that lack the re50ufcE5 tu undÈrtake a 108n A key objective of the Assctiation's fundra151Dg campaign Is to Increase the level of restrict8d funds from which 108ns 8nd grants are made. Unrestrlcted funds Unrestrirted funds are thos8 availabl8 for eny purpose con515tent with the Association's obigctiv•s Incom from all source5 amounted to £732,&2012022 £697,586], 49'A was derived from members, subscription5, 1&'A from Investment Inconie 8nd the bg18nce r8ised through donations, services to member ch8rities, sal¢s of publications and fundraising. In 2023, £777,76712022 É692,6391 was advanced in new loan5 and at the end of the year the total value of loans provided 8nd outstanding was £3.277,276. This figure includes 8n 8dministration tee of 5% which Is added to offset some of the Asswigtions costs. The total grants made In 2023 were £54,590 ccmpared with E71.835 In 2022. Reserves ere held to ensure continuily of service to members and ta provide Inve5tmEnt Income 20

Investment pollcy and performance Trustees, Responslbllltles statement Waverton manages the investment funds for the charity as a single am81gam8ted fund comprising the Invested portion of unrestriclÈd, restricted and en(Jowment funds. During the uÉ8r the mÉrket value of investments generally Increased with Improved Investor confidence as Inflation rates reduced and with the prospect of hioher Investment returns. Overall, there wis an inve5trn8nt 98in of £870,356 or 111Y. for the uè8r D8t8115 are shown In Note 6 The trustees Iwho are also directors of The Almshouse Association for the purposes of comp8ny lawl are responsible for preparing the trustees. annual repDrt and the financial 5tatement5 in accordance with applic8ble law and e%plained In the financial st8tem£nts In accord8nce with applicable law and United Kingdom Accounting Standards (United Kingdom Generallu Accepted Accounting Practicel. Comp8ny law requlies the trustaes ta pr8P8re flnencial statements for each fin8nciel year Under cornpany law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair vlew ot the state of affairs ot the charitable company and Df the Incoming resources and application of resources, Including the income and èxpenditur8, of the chgritable companu tor that pariod Investments also generated £193,161 of dividend 8nd other Invostment Incom8, which was E11.699 lower than the prevlous u8ar rnainly due to 8 reduction in dlvid•nd ylalds. Rgstricled funds not uEt Hllor8t2d to Intere5t-tree loan5 for rnvmbers 8re held 85 Investments or o short term cash deFQSlts lo the extent that theu ère r8quir8d for luture loan5 to memter ch8ritles Of thè total unutillsed restrlcted tund$ of £3,909,￿8 85 8t 31 Oecember 2023, 8pproxlm8telu 3% was hel4 In the form of cash deposits the remaI￿er held In the discretlonery managed portlolio n preparing Ihe flnanclal st8t6ments, the tru5tW5 are required to • Select suitable acc￿nting PDlicles and then 8ppiu them conslstently, and • observe the rnethods 8nd princip185 In Accounting and Reporting bu Ch8ritie5. St8tement ot Rec￿mended Piactlce ISORPI.. and make judgements and estimates that are rea5Dnable and prudent, and state whether applicable accounting standafQs have been followed, subject to anu m8teri81 departur£$ disclosed ond explained In the financlal statements, and, prepare the financial statements on the going concern basis unl8ss it is ir)appropriate to presume that the ch8rity wlll continue In t￿sIneSS The unc8rtalnty withln the global economu due to the Ukraine war 8nd other glob818v&nts m88nt that fInar￿18{ markets continue lo be volatlle. We pursue a b8ianced Investment strategy whlch hBs helped to mitigate losseg In thls 8rèa Thè Associatiun has strategies in Fdace to man8gg it5 short-term eash needs 8fKI takes g long-term view of Its investrnents Plans for future perlods In reswnse to the cost of Iivlng Is￿e$, I Associ8tiun continues to prO￿tiVely revlew Its •ctivlties to ensurè contir)u$d support to members. The trustees have reviewed Its risks and ¢oncluEled that given the charlty's financi81 and operatlonal positlon, It C8n continue to wpport almshouges now and for forèseeable future. rhe trustees are responsble for keeping proper acEountlnu reEDrds Ihat disclose with rEasonabie accufacy at any limE the flnancial position of the charitable corypany and to ensble them to ensure that the accounts comply with the CompÈnies Act 2006. They are also responsible for safegu8rding the 8ssets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other IrrEwlarities I rs Mr S Llng FCA Honorary Treasurer Mr R D H8rtlou Rus$•ll Chairm8n r A B•rn•s Trustee 21

FINANCIAL STATEMENTS statement of Fln8nclal Actlvltles ISOFAI for uear ended 31 December 2023, Incorpgrgtlng gn Income and Expendlturg Account. Not•8 Unr•strlEt•d R••trlct•d Endowm•nt lunds fund* tunds Tot41 2023 Totll 2022 Incom• and •ndowm•nts Irom.. Gifts, don8tlons and 18g8CI8S Charltabla èctlvitlos Investments Tat•l 122,263 511,126 99,031 6A.700 2.219 189,182 511,126 193,161 893.169 170.428 47,24? 204,860 822,535 94.130 158830 Exp•ndltur• on.. Raisiiig funds Ch8rit8ble BCtivitie5 Tol•l 178,837 774,111 B92.968 23.098 119.861 142 959 141,935 3,972 1,02S,907 104,796 849.138 9S3.93 N•t l•xp•ndltur•lllncom• b•lor• Inv••tm•nt g•lnlllo••l 1160,5281 15.871 2,219 1142.43ei N•t oainlllossl on Inve5tm•nts 320.629 3%.317 193,410 1704 4451 N•1 Incom•ll•xp•n¢Jltur•l •nd n•t mov•m•nt In lundi 160,101 372,188 195,629 727,918 1835,8441 R•con¢1114tlon or rund• Total lund balances brought forward at 1 January 3 272 211 6811996 1857208 11944 415 12 780 259 Fund b•i•nc•• c•rrl•d t¢rw•rd Al 31 D•c•mb•r 3,432,312 7.187,184 2,052,837 12,872.333 11,91A,415 The comporatlve $18tement ot Financial Actlvities Is shown In Note 13 to th6 accounts Th8 total Income for CompHnl8s Act purpDse5 excludÉs f2,21912022 £2,311) Income on gTKJowment funds which 1$ an Increase in endowment capital The accompanying notes form èn intogral part of these Ilnanc181 statements There we M recogni5ed g8in5 and losses other than those stèted above All the Income and expenditure Is frorn continuing op8ratlons 22

Balance Sheet As at 31 December 2023 Not•1 202J 2022 Flxed af8•11 Tangible assets Investments 12,462 9,159.860 g,172,322 19,$87 S.￿5.147 8,S44,73 Total fixod assèts Curr•nt •i••t• Loans to member ch8ritiBs- Recover8Lle within one year Recoverable after ty* year other d?btors Cash it bènk and In hand Total current 8sset$ 10 510.891 2,766,395 439.726 S11,991 4,228,993 572,906 2,4&5,I93 331.794 S21,712 3,871,995 tr•(Jltors. arrnunts failln¢ dua wlthin one year 17289821 I£722￿1 Not current ass8ts 3,500,011 3.399.681 Total •ss•ts less ctsrrnnt Ilablllt 12,672,333 11.￿4,415 Tot•1 n•t •BB•tB 12 672 333 11944 415 Th• fund• of th• ch•rlty'. Endowrnent funds Restrlcted funds 9.10 2,052,837 7,187,104 9,2£0,021 1,851,208 6,814,996 8,672,20 Tot81 restrict8d funds UnrestrlctOEI funds Gervèral Designated. Investment r￿er¥? Tormlnal rasarva Strateoic tAan ￿s￿r¥e Tot91 unreslrlcteo funols 187P86 344,146 2,4S3,733 460,000 331,493 3 432,312 2,133,104 370.CTh) 424.961 3272 211 Tot•1 ch•ilty fund• 12,672 333 11,9£4.41S The 8ccompanyiThJ notes form an integr81 p8rt of these fina￿181 statements T￿ fin8nc181 staterf￿ntS Dn pages 22 to 37 were 8pproved bJ the B08rd on 13 March 2024. Mr ft D H•rtl•y Rus$dl Chairman Mr A B•rn•s Trustee The Almshouse Assoclation Reglstered comp8nu number 04678214 23

FINANCIAL STATEMENTS statement of Cash Flows For the year onded 31 D8cember 2023 2023 2022 Clih flow8 from oper•tlnq actlvltl•s Not cash us•d In op•r•tiw ittiYiti•• C•6h flaws from Inv•illng Ktlvlll•s Oividands and Interest rrom Investmentg Purchase of property. plant ar￿ equlpment Capit81158d addltion5 to inv85tm•nt property Nuw loans made Rep8uments of 108ns made Prcceed5 from sale of invéstmènts Purchase of Inv8strnents Il•t ¢••h piovld•d by Invegtlnq •ClI￿tr•& 1175,6241 193,161 204.860 11,0321 115,9851 1777,7671 518,880 1.703,638 I2,329.(￿lI 16946391 517.53B 4.062,939 13.168,7681 922,sgB An•ly¥l¥ of ch•ThJ•# In n•t cAh Ch•ng• In c•sh ind c•h •oulv•l•nts In th• r•portlno p•rtod Cash and cash equivalenls at the beginning of the rewrting period C•h and ¢•h •qulv•l•nts •t th• •nd ol th• r•portlng p•rlod 1886,7181 1,492,507 60S789 71E,088 7B7,419 1492 507 R•conclll•tlon ol n•1 Incom• to n•1 cash flow from 0￿ritIAll •ttlvltl•s N•t Incom•ll•xp•ndltur•l lor th• r•portlng p•rlod 727,918 IB35.8&£1 Adlustm•nts lor.. Depreciatlon charges IG8inllloss on Investrnwts Dividend5 and Interest from Investments IlnEreaselldeciegse In debtors Incre9se In creditus N•t C•Bh ts9od In oporatlno *etlvltl•$ 13,806 704,445 1204,8601 52,248 $2 395 12178101 1870,3S61 1107,9321 11756241 An•lysls of c•sh •nd cash equlvalents CaEh at bank and In hand C8sh held for Investrn8nt Tot•1 c•sh •nd ¢ish •qulv•l•nts 511.991 93,798 605 789 S21,712 970,795 1492 507 The A55cKiation doES not thid anu extÈrng1 debt, for thot re8son 8 separate analusis of the change In ret debt has rnt been prepared

ACCOUNTING POLICIES 1 Accounting policies The principal accounlir)g policies adopted, iudg8rnents, and key sources of 8stim8tlon unceitalnty in the preparation of the financial gtatements are laid out below As5es5menl of golng concern The trustees have assessed whether the use of the going concern 8ssumption Is approprSate In preparing these Iinsncial statements. The trustees have made this assessment In respect of a pericMI of one year Irom the date of 8pprov81 of these account5 The trustees of the charity have concluded that there are no rn8terial uncÈrtainties releted to events or conditions that mau cast significant doubl on the ability ol the charilu to continue as 8 going concern. B*sls ol pr•porallon These financial statements have been prepared for the year to 31 tkcember 2023 under the h15torical cost convention with Iterns recognised 8t cost or Irènsaetion valus unl8SS Otherwisg Stat&d Iri the relevant accounting Policies below or In the notes. They have been prepared in accord8nce with The trustees ère of the oplnlon that the charity will Accounting and Repurting by Charitles Stalem8nl have sufficlent resources to meet its Iiebillties as they of Recommended Prgctice applicable lo chariti89 fall du8 The most 51qnlfic3nt areas of judgement th8t prep8ring their accounts In Accordance wlth the allecl Iterns in the financial statefflènls are detailèd Fin8ncial Repoiting St8nd8rd applicable In the United 8bove With fegaid tD the next accounllng period, the Kingdom and Republic of Ireland ICh$rities SCrfIP FRS ear endlng 31 Oecernber 2024, the most significant 1021, the Financial Rewrting Standard applicable In the ereas that 8ffecl the carrying value ol the assets held UK and Republic of Ireland IFRS 10218nd the Companies by the charity ar$ the level of Investment return and Act 2006 The charity constitutes a public benèflt entity the performance of the Investment markets (see the as defined by FRS 102 The Iin8nclal slatements are 'Investment policy and pertorm8nce' section ot the presented in sterling and are rounded to the nearest Finencial Review 8nd the StatBment ot Risk section or und this Annual Report 2023 Crlllcal accountlng e511mate5 and aroas ol ludogm•nl Fund accountlng General unr￿trIcted funds ère 8vallable for usa at the discretlon of th8 Executive Committee In lurlherance ot the general obieclive5 of the A550cl8tion. Preparation of the financial Statements requlres the trustee5 and management to m£ke significant Judgements and estlmale5 The current economic climate remains challenging Il is not r￿sible to evaluate all the potenli81 implications for the charity's 8Ctivities, beneflciaries, funder5, suppliers and the wider economy Estimates used in the accounts, p8rtiEuiarly with respect to the value ot listed investments and Investment properties Isee Note 61 are subject to 8 greater degree of uncertainty and volatility. A5 set out In the58 8ccounting PDlicies under 'Assgssm8nt of going conc£rn'. th£ truste95 have C￿SIdered it 15 appfDpriate for the charitu lo continue to prepare Its account5 on the going concern b8515. Designated unrestrlcted funds r8l&te to 8rnounts sat 8sidE by Ihp Board within unrestricted funds for a particular purpose Details ol these designated reserves are set out In the financial statements. Restricted funds are tund5 5ubJect to re5trlctlve conditions Imposed bu donars or by Ih? nature of the eppeal. The purpose and use ol the rsstricted funds are set out in the finarKial staternents Endowment funds are permanent capital funds where ther8 is no power to conv8rt Into Income The Income frorn them is classlfied as Investment Income, and as unrestricted or restricted depEnding UPDn the terms of the endowment The Items In the financial st8ternents where these judgements and eslimales have been made Include., deterrninino the basis for allocating support costs", estimating the useful economic life of tangible fixed 8ssetS, 8nd determining the v81uation of the investment propert Income recognltlon Income is iecognised In the kEriod In which the charity ha5 entitlement to the Income 8nd the amount can be rneasured reliablu and It is probable that the Income will be received. Incorne 15 deferred only when 25

ACCOUNTING POLICIES I contlnuedl the charlty has to fuifii condition5 before becomino enlilled to it or where the donor or funder has specifièd that the I￿orne Is to be exp8nded in future accounting period. Expenditure and the be$ls for apportlonlng costs Llabilitie5 are recognised as expenditure as soun as there is a leg81 or conslructive ubligation committing the charity to make a payrn8nt to a third p3rty, it 15 probable that a tr8n5fer of economic benefits will te required In settlement and the amount of the obligation can be rneasured reli8bly. Income campris8s (Jonalions and Lea￿leS, subscrip- tions, Income from serninars, incom& from the s818 of publlc8tions, illterest and inv85trnent Income and suntjry income. Expenditure comprisas th8 followlno.. The cost of raising funds includes the salaries, direct costs and overheads associated with generating voiLJnt8ry Income, and The cost5 of charit8bl£ aetivilies comprise expenditure Dn the charity's primaru charitable purpDSeS as describgd In the Iruslees, rewrl, Donations are reccgnised when the charitu h8$ confirmatlon of ￿th the amount and settlement date. In the event of donations pledged but Th)t received, the amount is accrued for where the receipt Is considered probable In the event th81 donation Is subject to condition5 that require a level of performance before the charitu Is entitled to the funds, the Incopne Is deferred and not recI￿nIsed until either those Conditions ar8 fully met, or the fulfilment of those CDnditions Is wholly wlthin thè onlrDI of the charitu and it Is probable that those conditions will be fulfilled In the reporting period. Grants Payable are Includecj in full In the statement of fin8ncial activities when approved and when ltte recipient has either recelved the funds or been Informed of the dècision to make the grant and has S8tisfied 811 related conditions. Allocatlon of support and govorn•nce cost$ Support costs repreg8ril Indlrect cherilable éxpénditura In order to carry Dut the primary purp05P5 of th8 ch8ritu it is necessaru to provid• support In the form of personnel dpv8lopment. financial procedures. provision ol office services 8nd 8quipment and a ￿lIable working environment In accordance with the Ch8rilies SORP FRS 102 volunteer lim¥ is not recoanised. Legacies ore included In the statement ot flnanclal aclivlties when the charity is entilled to the leg8cy, the executars have est8biighed thal there are suffi- cient sur Ju5 a55et5 In the estate lo pay the legacu, and any conditions attached to the leoacw ère within the control or the cherlty Governance cost5 cornprlse thp costs involvlng the public accountèbllity ol the charlty (including audit C05tsl and costs in respect to its compliance with regulation and g￿d practice Support costs and governance costs 3re apportloned on the basis of time spent bu Individual staff members on thesè Incorne from other charltable actlvitles, Including membership, 58mlnar5 and publications, Is recognised to thè gxt8nt that it is probable that the economic benefils wlll flow to the charity and the revenue c8n be measure¢ reliably It 15 measured at the fair value of the consideration received or r8ceiv8ble, excluding any discounts or rebates T•nglbl• tlx•d 4sset3 and d•pr•clallon Tangible fixed assets are stated at cost, less depreciation Deprecistion 15 provided on all tangible fixed assets, other than freehold land, at r8les calculalèd to wrilo off the cost, les5 estimated residual value, of such assets on a straight Line basis ovei their EXPSCted useful life, as follows. Freehold buildings - 50 uears Computers 5 year5 Furniture and equipment - 7 uears Dividend5 are recognised once the dividend has been declared and notlficetion has been received of the dividend du8. Interèst on funds held on deposit Is Included when receivgble and the amount can be me85ured reliably by the charity, this is norm8lly UPDn notification uf the interest pald or payable bu the bank. 26

L15ted Investments Cash at bank Cash at bank and In hand represents such accDunts and instrumenls that 3re av8ilable on demand or heve a m8turity ot les5 than three months from the date of acquisition Deposits for more than three months but less than one year are disclosed as short-term dgFosits. Credltors Listed investments 8re a form of basic financial Instrurn8nt ènd ar? Initially recognised 8t their transactian value and subsequently mpasurEd at their fair valLJe as at the balance sheet date using the closing quoted market wice Realised and unrealised g81ns lor losses) are credited lor debitedl to the statement ot financial ectivities ID the year In which theu arise. Creditors and provi51ons are rECogn￿Se￿ when there is an obligation at the balance sh8et date as a result of a past event, it is probable that 8 trall5fer of economic benefit will be iequiied In settl8monl, 8nd the amount or the selllement can be estimated reliably CreditDrs and prov15ions are recogn15ed 8t the amount the charitu anticipates Il will pay to settle the debt Theu heve b8en dl¥counted to the present vglue of th8 future cash payment where such discounting is material. The charity does not acqulre put optlons, derivatives or other compiax financial Instrum8nts As noted above, the maln form ol financial risk fac@d by the charitu Is that ol volatility In equitu markets and investment markets due lo wider econornic CDndition5, the attitude ol investors to investment r15k, end ch8nges In sentiment concerning equities ènd within particular 5ector5 or sub 5ectars Inv•glm•nl prop•rll•s The investment property is held lor the long-lerm rental yields and is not occupied by th£ AssCCi8tion. Investment propèrtiès are Initially measurèd at cost, InclLJding relatetj transoclion CDSts and whare applicable, borri)wing costs After initial recognition. investment prDpertie5 are carried 8t fair v81ue F8ir value. which h85 been estimated by the trustees. 15 based on recent market prices end takes into account rental Income ancl current mèrket conditions The valuatlon forms the tiasls tor the c8rrylng amount In the financial st£tements Changes In Igir values are recorded In the Staternent of Financial Actiwties In the uear In which they arise. Valu• Added Tax The Association Is not reglstere(J for VAT purposes and all costs an¢ expènditure incurrgd ar? inclusive ot VAT, unless otherwise indic8ted P•n8lons The Association contributes to def Ined contribution schemes for most current ernployees Contributlon5 8re reccgnised In the statement ol financial activities when they f811 due. Slock$ No value 15 placed on stwk5 Qf books and puOIic8- t10n5 held for dlstrlbution or resale. The cost Is wrltten off in the uear of purchase and sales ore included In the year of receipt, Subsequent expendltur8 Is caplt8llsed to the assel'g carrying amount only when it Is probable that future 8conomic beneflts associateo with the expenditure will flow to the Association and th$ rest uf th8 Item can be measured reliably All other repairs and m21ntenance costs ar8 8xpenseO when incurred. T•x Ag 8 charlty. the Association is e¥en)pt from taxation of Income and gains falling within section 505 of th& Taxes Act 1988 or section 256 Df the Taxation of Chargeable Gains Act 1992 to the extpnl that they 8re applied to It5 charitable purpDse5 ND lax charge hss ar15En during the year. Oeblois Debtors are recognised al the settlement amount, less any provision for non-recoverability. They have been discounted to the prEsent value of the future C85h receipt where such d15COUnting 19 material, with the exception ot loans to member charities As these loans f811 within the exemption from discounting to pregent V81ue 8V8ilable to publlc bÉNÈfit Èntities. these loèns are held at the settlement amount

NOTES TO THE FINANCIAL STATEMENTS 2 Income and endowments from., Y•ar •nd•d 31 De¢•mb•r 2023 Unr•$trlct•d fundi R•otrfct•d lunds Endowrn•nl fund¥ Total 2023 611t4 don•tlon• •nd l•o•cl•i Publlc fundralslno Members. donations Associate rnembers, subscriptlOll5 other voluntary inCDrne 96,142 8.389 1,780 IS,952 122 263 64.700 160,842 8,389 1.780 2.219 199182 Ch•rlt8bl• •ctlvltl•• Mernbers, subscriptions Panel members, gjbscriptions Services to member ch8rities Conference and seminar fe85 Sales ol Gazette5 and publicatlons R8nt r8c8ivabie 362,218 13,33S 37.037 83,568 20,310 14.6S8 511,126 362,218 13.335 37.037 63,568 20,310 14,6S8 511126 Inv•stm•nl• Dlvldends and distrlbutions recefvable Int8r8s1 receiv8ble 9S,489 3,542 99,031 92,145 1.985 94,130 187,83 S,527 193161 Y••r •nd•d 31 D•c•mb•r 2022 Unr••trlct•d lund• R•*trlct•d funds Endowment lundi Tot•1 2022 Glft¥. don•tlon4 •nd l•ga¢l•i Publlc fuThlraising ember5' donations Associate member¥ Subscriptions Other voluntaru Income 121,203 9,170 92S 14 £19 145,617 22,500 143,703 9,170 825 170,428 Ch•ilt•bh •ctlvltl•s 8mbérs' subscrlptions P2nel members. subscriptions Serwces to mernt￿r charities Conference and seminar fees Sales of Gazettes and publl¢ations Rent recelvable 345,143 12,198 33.722 25.220 18,198 12,766 47247 345,143 33.722 2S,220 18,198 12.766 447.247 Investrnent Dividends and distributlDn5 fEceiv8ble Interest receivable 104,270 452 104 722 99.893 2&5 100138 204,163 697 204 860

3 Expendlture on.. Vni•¥trlctqd fund5 R•strlctid rund5 Tot•1 2023 Vnrpstrl¢te¢ funds Restrlcted lundi Tot•1 2022 R•l$lnp funds Slaff costs INote 111 Other direct costs Investment management and cu5todu fees Support cost5 (Note 41 5,972 28,919 5,972 28,919 19,4£1 19,441 6,381 9e1 28.529 55,417 118.837 ,098 5fj,627 55.417 1£1,935 20,175 42,465 63,621 16.334 36,509 42,465 104,796 23,098 41,17S Ch•rltibl• ictlvltl89 Grants rn8de Stafl casts (Nole 111 other direct costs Support CDSts (Note <1 54 S90 42.648 22.623 S4,Sg0 328,964 161,37E 349,040 71,835 71,835 26£,232 51,283 168,983 344,088 8£9138 286,316 138,755 349,040 77£ 111 264,2 117,70Q 34£ 088 726020 119 861 123 118 Support costs Tot81 suppct costs and their allacatlon Isee Note 11 were 5t•rr Olh•r co4tJ cogt• Tot•1 2023 stfl oth•r Tot•1 2022 R8ising funds 25,328 178,420 206 748 27,089 170620 197709 S5,417 349.040 404,457 24,478 198,337 222 815 17.987 2.46S 145,751 344 088 163 738 3116553 2023 2022 The above costs IwlLKIe' Oepr8ciation Leoal and prof8s￿on81 c06ts Auditor'$ remuneration, Including expensès 8rtd VAT, for audltino the financial statem¥DIs'. 13,806 18,128 11,686 5,258 12,294 5 Tanglble flxed assets Fr••hold Furnltur• & property oqulpmerrt Totol At l J8nu8ry 20?3 Additions At 31 D•c•rnb•i 2023 118,372 132.371 250.7&3 4,014 4,014 138385 254 ￿7 118 372 D•pr•cl•llon At 1 January 2023 Ch8rge for the year At 31 D•c•mb•r 2023 118,372 112,784 231.156 118 372 123 923 262 295 Nèt book valueB At 31 December 2022 At 31 D•c•mb•r 2023 19.587 462 19,587 The Executive Committee h45 estimated that the freehold property has a cUr￿nt market value of not less than £S50,000, taking Into account Informal professional Bdvice and rKevailing local market conditions 29

NOTES TO THE FINANCIAL STATEMENTS 6 Investments 20¥J 2022 Inv•8tmont• Ilted ¢n • recwnls•d tock •xch4nq• arket V8lue on l J8nuar Add. Addition5 at C05t Less.. DisWS￿ pfDceeds Net gainlllossl on revaluation and other movernent5 Market value 8t 31 December 6.854,352 2,329.007 11,703,6381 870 356 8,3￿.077 8,£52.968 3,168,768 14,082,9391 1704 4&51 6,854,352 C••h and ••ttl•m•ntg pondlno h•ld o• p•rt of th• Inv•stmmt portlollo 970 795 7,825,147 8.413,675 Inv•¥lm•nt prop•rty •t vdu•¢lon 715,98S ?ooooo Inv•8lm•nt• h•ld 9.159.860 B,525,1I7 Llil•d Inv••tm•nt• •t eolt 7,268,844 7,524,045 Ll*t•d Inv••tm•nlB Iworldwld•l Equities ternatives Fixed Income C&5h held by brokers fof Inv95trngnt 6,517,963 763,9eg 1,068,126 93,798 8.4£3.8 5,209,026 809,348 835.978 970.795 7,92S,147 The Invastrnent property Is a dwelllng house, wh￿h lorms p8rt or the Assoclatlon's propertu at Blllingbear Lodge and is let on è long-term ba515 The open market Value for Investment purposes has been estlm8ted by the trustees. At 31 December 2023, the Investment portfolio Included the followino Investmants whlch repre88nt a materlel proportiun of the portfolio as a whole. Kl•rket volu• X of portlollo UK Treasury I Index linked 0711212049 Hlt8chi NPV Waverton Sterling 8ond Fund A Adv8nced Mlcro Devices Waverton Global Str8teglc Fund A Autoliv Inc Indltsx 18M 30S.671 2S4,331 249.482 248.638 245.715 240,176 239,206 237,396 33I'A 278% 2.72% 271% 2 68'A 282Y. 261Y. At 31 December 2023 and 2022, the A55ociation w85 the beneficial holder of the whole of the Issued shared capllal1£11 ol Blllinobe8r Enterpr15es Limited, a dorm8nt company. 7 Other Debtors 2023 2022 DBbtors Prppayments and accrued Incame 325.784 113,9&2 439726 223,585 108,209 331794 30

8 Credltors.. amounts falling due wlthln one uear 2023 2022 Tr•dE creditors Accfuals Tax ènd Social Se¢uritu Ikterred Income 9,664 29,610 11.376 678,332 728.982 174 60,656 10,245 401,139 472 21 BI￿nc• •t 1 J•nu•ry 2023 Amount Incorn• b•l•nc• It InvolE•d In 31 D•c•rnb•r r•#p•ct ol 2Q23 n•xt u••r 678.332 to Incom• Oafgrred Income 01.139 1401.1391 678,332 g Funds Y••r •nd•d 31 O•c•mb•v 2023 Incom• Exp•ndltur• In¥Mlm•nt q•lni 31 O•c•mb•r •nd Ir•nsl•rs 2023 2023 Endowm•nt fund• Cl and EJ Melbourne Fund Sl john'5 Housing A55(￿l￿tiOn Fund Th8 Almshouse Chrlstma5 Fund 359.135 1,156,250 341.823 1857,208 2,218 36,671 120,975 39q025 1,277.225 377,587 2 052,837 2,219 193,410 R•strlct•d lund• Held for almshous& Improvement 8nd support generallu The Alrnshouse AssrKiètion The Thornas Groves Trust for Almshousgs 2.813,473 372 436 3,21S.909 75,549 414 75,963 1127,B351 30,gJ1 2,822,08B 372 365 3,194,453 1128.3201 30,901 Held for specififjd recipients or almshouse groups 117,560 Edward Kernp Almshouse Trust 2,578,206 The Ajbilee Cottage5 Trust 92,025 The Craumer London Trust 371,515 The Mfre(J Wilson Charitu for Alm$￿u9es Trust 77.967 The AlrnshwsB Christmas Fund The Mary loèn Haw18y Fund 117.560 2,8gS.¥J2 91,705 416,745 77,447 57,986 13,2801 13201 15601 15201 19.6391 13201 1142 9591 253,020 8.536 37,2S4 8,290 8,055 158830 360.465 6 814 996 3S,142 03,342 7187184 Unr•atrlcl•d runds GEneral funds OesignatEd fund5. Inv8Stment re50rve Terminal reserve strategic plan reserve 344,146 732.420 1799,4801 190,000 1B7.086 2,133,104 370,000 126,961 3,272,211 11.964.415 320,629 90,QOO 2,453,733 460,CQO 331,493 3.132.312 12,672,333 193.1681 1892,9&81 11,035.9071 732,420 893,469 320,629 870,356 Total funds 31

NOTES TO THE FINANCIAL STATEMENTS 9 Funds Icontlnuedl Year ended 31 D•cemb•r 2022 •l•nc• It 1 l•nuaru 2022 I￿¢m* Expendlture Inv•stm•nt g•ln$ and transfers 31 Decomber 2022 Endowm•nt lund5 Cl 8nd El Plelbourne Fund st John's Housing Association FuTrJ The Almshouse Christmas Fund 390,013 1,265.735 374.191 2.029,939 2,311 133,1891 1109,4851 132,3881 1175,OA21 359,135 1,1%,2SO 341.823 1,857,208 R••lrlct•d funds Held for almshouse Improvement 8nd support gen•r8lly Thè Almshouse AssoGletlon Th8 Thomas Groves Trust fcf Almshouse5 2,934,320 372 721 3,307,041 33.638 80 33,718 2,B43,473 372 436 3.215,909 1365 123,3121 Held for Specified reclpienls or alM5￿U$e groups 117,560 The Edw8rd Kemp Alm5hw5e Trust 2,776,942 The jubilee Cottages Trust 92,325 The Craumer London Trust 396.610 Th8 Alfred Wilson Charity Aimthouses Trust 98.É67 The Almshouse Christm8s Fund 1,595 The M8ry loan Hawieu Fund 38J.927 7.174.467 117,S60 2,578.206 92,025 371.515 77,967 1.349 360,46S 6,814,996 62.219 1228,9841 13001 15401 120.5001 19,1441 13001 1164,2S31 9,181 133,7161 8.898 8,642 12283e 131,8041 Unf•slrl¢t•d fundi G8ner81 funds Designated funds. Investment reserve TerminAI rÈserve strateglc plan reserve 378,090 697.586 1731,5301 344,146 2,3&4.691 370,000 83,072 3.57S 953 12,780,259 1211,5871 2,133,10 370.(KJO 24 961 3,272,211 11,9£4 415 697,586 822,535 1789,6411 1953,9341 Tota fund5 1704.4151 Endowm•nt fund• The incorne of th? CJ ènd El hAelbournE Endowment Fund rnay be us8d for any wrposes that are 'exclu51velu tharit8bie' and Is, thBrgfor&, classified as unrestricted The Incomfj of The Almshouse Christma5 Fund 15 to be used to provide gift5 at Christrngs to residents of the almshouses of member charities and unsp2nt Income 1$ cl8ssified as a restricted fund The Incotne of the St john's Housing Assoc18tion Endowment Fund may be used for 8ny purposes that ere consistent with the objects or the dornr. n8mely the accommodation and s¢Jpport of older people. 32

9 Funds Icontfrnv•dl R•trtct•d l￿dI The r•strlcted funds (other th8n unEpent Snccfn8 cf the Christma$ Fundl ¢rmprise lunds heid for almshwse Imyovement$ and Support Some of thEse funds are heid for Specif￿ r8¢ipièntg or almshouse grtrjps specifled bu i)r￿r, os lollows. Ths T￿M￿S Graves TrLtst tor Almshouses is heid for the bonofit of almshouses and their occupants The Edward Kemp Almshouse Trust is held lor the rellef of Fersons In hardshlp throuOwut the cwntru with particular preference for those In Hertford, under the arnended herne term5 agreed ￿ the Ch8rltu CNnmis55oners in Jne 2014 The Jubilee CottBges Trust Is held far the r81ief of poverty In the Cauntu of Suffolk, In parllcular bu bulldlng or repairlno almshouses, uThlor the terms of a Schem• flThalls8d bu th8 Cheritu Commls*on¢r5 In Aprll 2007. The Crwmor London Trust Is held for the buildlno or repaIri￿ of almihouEaS In Wlltshlr•, under term8 of I Will of Maru Evelyn London dated 28 Augu811992. Th8 Alfred Wilson Ch&rltu fcf Alrnshwses Trust Is held lor the rellef of pmrtu In the ceuntl8s of Lanc8shli• and West Yorkshire, in parliculer by buildirva or repairing 8lmshouse5, under the terms of a Sctteme findlised bu tho Cheritu Ccfnmissioners In Decemter 2008. T￿ Mary loan Hawleu Fund15 hBld fcf the tenefil of alm5hwse charities c￿nected with the Ch¢Jch ol Enoland. Unr••trlct•d lund• Unreslrlcted lunds gre available for 8nu purpose appropri•te to the A58crbtion'8 charltablè oblgets. Th• 80ord has deslgn8ted a sum of £2.4S3.733 to bo set asld• withln unrestMcte(J fvnds for Inv8Strnent to g8n8rat¢ dividend Income lo subsidlse member subscriptlons, a sum of £460,000 to cover the cost of anu Ilabllitle5 arlslng in the event ol the termlnollon of actlvltles and o sum of £331,£93 as the Strat4lc pL8M ieserve. 33

NOTES TO THE FINANCIAL STATEMENTS 10 AnBIy51s of net assets by fund Y•ar •nd•d 31 O•c•mb•r 2023 Unr•strlct•d fundi G•n•r•l D•glgn•ted R•8trlet•d lunds Endowmènt fund• Total fundi Tangible fixed assets Investm8r)ts Cash and dop051ts Loans to memb8r charltlgs (see beiowl oth8r current 8SSets (excluding loènsl, less liobllities 12,462 112.06 391,583 12,162 9.159,860 511,991 3,277,276 3,24S,226 3,777.840 120,408 3.271,276 l,9￿,TJO 13590231 187,086 11.660 7187,181. 58,107 2,05E.837 1289 2561 12.672.333 3,245,226 Unrealised oains included above 28,163 843,335 748,921 395,£36 1,815,855 Y••r •nd•d 31 O•c•mb•r 2022 Unr•Btrlct•d fundi O•n•r•l D•ilgn•t•d R•5trlct•d lsJnd• Endowm•nt fund• Totil fund• Tangible flyed asséts Investments Cash and dew61ts Loans to m8mbor charitles Isee belowl Olher current a55ets 19,587 2&7500 347,9SI 19,S87 8,525,147 521.712 3.018,389 2,928.065 3,50t,017 173,761 3,018,389 1,848,565 12708921 3£4 IL6 121,829 6814 996 8.643 1857208 1140.4201 11944 115 2928 065 Unrea115ed g8lns Included above 2734S 323S13 386816 204 242 941916 The tot81 unr8alised gains a5 at 31 Dac$mber 2023 constitute movement5 on revaluation and are as follows 2023 2022 Unr••ll•ed g•lni Includ•d •bov• On Investmenls On Investment property Total uhr•alls•d ain# It 31 D•c•mb•i 1,175,041 640,81 1.815,855 301,102 640.814 941916 R•¢onclllgtlon of movarn8ntg In unw•allsod galns Unrealised gains at l January Less.. in respect to di5P05a15 in the year 941,916 3,583 945 499 870,356 1,815,855 2,￿9,&84 1883,1231 18&6,361 1704,&4SI 941916 Add.. net ualnlllDssI arislng on revaluation during the year Total unr••ll•d g•lns At 31 Doc•mber 34

10 Analysls of net assets by f und IcDntlnu•dl Lo8ns to ff￿rnber charlties bu.. Th• Almshous• Aisoclatlon Ih• Thpm•s Orov•% Trust for Almihou8•s Th? Edward K•mp Alm*houies Trust other Fundg Tol•l At 1 laDuaru 2023 Loans made L08ns repaid At 31 Oecember 2023 2,110,261 621.S27 396.1581 2.335,630 78,436 7e,75D 125,6721 131,514 755,038 77.490 182,1401 7SO,388 74,654 3,018.389 777.767 1518,8601 3.277,276 114,9101 59.744 Due withln one yeor 390,991 11.298 93,802 14,800 S10.881 Commltmenls The AssoclatlDn was, at 31 December 2023. commilled lo make available to the trustees of rnember Blmshouge ch8riti2s loans of E&03,2a12022.. E339,3281 11 Employees and employe• costs 2023 2022 Salari8s Sociel securitu costs Emplouer s pension contributions 455,661 39,793 39,362 534,816 21,517 39.￿4 36.909 497,680 Full-llme equivalent nurnb8r of emplou88S 9.9 The a￿¥￿ costs wpre allEtatod to. Numb•r Employ•• c04t• 2023 2022 2023 2022 R8lslno lunds Costs of ch8ril8ble acllwlles Support costs 03 S,972 328,964 199,880 S3{ 816 264,232 214,007 497680 3.7 97 An 8veraoe of 13 I2022..121 persons were 8mplDyed during the year Onè had remuneratlon In the range £90,000 Io 100,00012022.. £90,000 to £100,000 onel In the year, and the Association contributed £9.71612022. £9,291) toward5 pension scherre lor that emplouee The trusteEs do not rEceive 8ny remuner8tion. Th2 totzl cost Df Ernplouing key rn8n8gErnent in thE PEriod 8mOUntEd to £223,38312022 f233,61SI Keu m8nagernent rwneration Is approved bu the 808rd uf Trustees. Travel expenses for meetlngs of 11.84912022.. £5301 were re1m￿rsed to thre812022. twol truslees. P•nslon fund contrlbutlons All current employees are eligible to loin the Association's defIn￿ contribution scheme, and contributions are accounted tor when paid. 35

NOTES TO THE FINANCIAL STATEMENTS 12 Related Partles Durino 2023. five12022.. fourl trustees of t￿ Associeticn were 8150 tru5te8s of The Leonard Hackett Mwnorlal Trust, which acted 89 soi8 tru5t£e of one12022 one) rnernbBr 8lm5house charity This charity had 108ns 8nd other advances rrom the Assoclatlon. as follow5. 2023 2022 The Charlty of Edmund S¥wyèr12287981 27.897 The n8rne5 af the directors of The Leon8rd Hackett k4emori81 Trust, who are ell 81s0 members of the Executive Commlttee. we Ilsted m the Inside cover of this Annual ￿e￿rt At the end of the Year The Leonard Hackett Mernori81 Trust had an tyJtst8rtino @dv8nce of É27.03612022.. É24,1281. The Assoclatlon prcwided menaoement services to Leonard Hxkett Memuri81 frust and The Cherily ol Edm¢Jnd Sewuer Ourlna the yeor the Assoclatlon ch8rged É2,88012022.. £2,736) to these eh8rSti8s towards Its 8dmlnistr8tion costs. Members ol the Board of Trustees are conD8¢ted with membÈf almshous• charltles, bul do TrJt pèrlicipale In decisions concerning those charities Jrlng the uear, the Associatlon paid £2,099 hi reswct of Charlty Trustee Assurance12022.. £2,9231. r A Sedgwick Is a trustee of the Ladu Anne Wlndsor ChÈrlty whlch has an Interegt-rree loan from the Assoclation amc)LJnting to É10,50QI2￿a. 114,7001.

13 Compar•tlv• Staternont of Flnanclal Actlvltl•s ISOFAI st&t•m•nt ot Flnanclal Actlvltl•i ISOFAI lor y••r •nd•d 310•c•mb•r 2022, Incorpur•llng •n Incom• and Exp•ndltur• A¢count Not•¥ Unr••trtct•d fvnds R••trlct•+J rund End¢wm•nl funds Tot•1 2022 Incom• Ind •n¢Jowm•nl• Ir¢m'. Gitts, donations end legacies CttBritgble activities Inve5tment5 Total 145,617 IA7,247 101,722 697586 22,500 2,311 170.428 447,2£7 201,960 822.535 1aa.178 122.638 Exp•ndltur• on.. rialslng funtjs Charltable actlvllles Tatil 63,621 726,020 789.641 41,1 123,118 16&.293 104.796 849.138 953.93£ M•1 l•xp•ndllur•lllncom• b•lor• Inv•itm•nt lo*• I92￿55) 141,6551 2,311 1131,3991 Net 1055 on Investments 1211,5871 1317,8161 1175,0421 1704.4451 N•t mov•m•nt In fiJnd• 1303,6QI 1359,4711 1172.n11 1835,8441 R•¢onclll•tlon ol fund• Tot81 tund b814nces brought lorword at 1 lanuaru 3,575,8S3 7.174.467 2,029,939 12.780.259 Fund b•l•nc•• ￿rrI•0 lorw•rd It 31 D•c•mts•r 3.272,211 6,614,996 1,851,208 11.91A,415 37

AUDITOR'S REPORT Independent audltor's report to the members of The Almshouse Assoclatlon Oplnlon We have audlted the flnanclal statements ot The Almshous• Assocl•tlon Ith•'ch•rltabie CDmp•nu'l fDr th• y••i •nd•d 31 D4camb•r 2023 whlch compFls0 6tat•m•nt af Ilnahclll etlvltl•$, the b•lonce sh••t, •nd It4t•ment of c•sh Ilows, the prlnclpal accountlng pollcl•s 4nd th• noles to th• flnan¢l•l gtat•m•Thts. Th• fln•ncl41 r•portlng framework th&t hos baen appll•d In th•lr pi•p•ratlon Is ppllcgbl• l•w •nd Unit•d Klnodom Accounllng St•nd•rd, Includlng Flnancl81 Reportlng St4nderd 102 'The Fln•nclol Repoitlng Stand•rd appllcabl• In th• UK And R•publlc ol Ir•l•Thd' Iunlted Klngdom G•n•r4lly A¢c•pl•d Actountlnq PrACtlcg1. In our oplnlon. th• flnancl•l it•t•m•ntJ'. • olv• • tfU• •nd t•lr vlew of th• st•t• ol th• Chir1t•b￿ company, •llqlr9 as •t 31 D•c•mb•r 2023 •nd ol Its Incomi and •xp•ndllur• for th• y••1 th•n •nd•d,. • h•v• b••n prop•rty prepared In accordonc• wlth Unlt•d Klnodom G•n•r•lly Accepted Accountlw Practlc•', •nd • ha￿ b••n pr•yr•d In •ccord•nc• wlth th• r•oulrom•nts ol th• Comp•nl•i Act 2006. Bas15 for oplnlon We corKlucted our audit in accurdance with Int￿natiOnal stand8rd5 on Audlting IUk<l (ISA5 IUKII and applic8bi8 law. Our rBsponsibilltlgs under IhDse standèids arÈ furtli8r described In the 8Udltor's responslbillties for the e¢Jdlt ol the finaKial 5tatement5 section of I￿r rekvjrt. We are Independent of the ch8rltable company In 8ccordance th the ethical rÈqulrements that ere reiev8nt to (xjr 8udit of the financlal ststerrnls In U<, Includi the FRC'S Ethlc815tandard, ano wa hgvo fulfilled Lxjr other ethica resrAJnsibilities in 8ccud8nce with these iequlrerrnnts. We beliewe that 8udlt ￿lderts we have obtain8d Is Jfficient and 8pprow8te to Lyowde b2sis for our opinion Concluslong relollng ID golng conc•rn In audlting th8 fin8ncl815tatement5. we h8ve concludgd that the trustees, use of the gDifo CDncern basis Df accountiw In the preparation of the financial statements Is 8pwopri8te. Our r8sFonsibilitu is to rg8(J the other Informoticn aThJ, in doirvJ so, consider whether the other information is m8teri8llu consistent wlth the financial statements, or our kn￿￿edge Dbt8ined In course of the 8udit or otherwlse 8ppe8rs tD be mllterially misslated If w8 identifu such material incons15teKies or epparent matgrial misstatements, we are required to deteimin whether this gives rise to 8 rnaterial mi55taternÉnt In the financial stat8m&nts themsdves If, based on the work we have psrformed, we conclude that there Is m8teri81 misst8tement of this other Infomati(n, we &re requ1￿￿ to report th81 fact. We have nothlng to report In thls reg8rd. Oplnlons on olh•r m4tt•rs pr•i¢rlb•d bu the Companl•s Act 2006 In OLY opinion. based ￿ the work urthrt8ken In t course or the audit. the Inform@tion given In the trusteès, rewr( whictt Is also the dir8Ctors' ieput foi the purposes of comrAny18w. for thè flnancl81 ue8r lor whlch t rina￿l81 Stat￿entS we prep8red15 CUfjSlStent wlth the financlal staterrnts, and the trust￿. report, whKh Is also the dir8Ctor¥ retKXt for the purwses Df comp8ny law. has been pre￿red in accordance with applicable legal requir&mgnts M•tlers on whlch w ar• r•qulred to reporl bu •xc•pllon In the light rjr the knowledge and uT*erstgnding ol the charitable companu and Its envirchiment obtaln8d In ttr c￿jrSe of the audit, we have nut Identified material misstatements In the truste•¥ rewrt We heve nothirvJ to rewrt In re5PPIt ol the folbwng matter5 In relati to which the Coryanies Ad 2006 r8quire5 US to repDrt to you if, in our opinion. adequate accounting r&rortts have not been kept, or turns adequete for our 8uiJIt have rKrt been recolved from branche5 not ¥i￿ted W us, or the financlal statErrEnts are not in 8greernent with the acc(￿ntIng reccfds an¢J returns, or certain dlsclosures of trustee5' remunWat￿X SFecified by law are t￿t mode, or Based on the work we he￿ performed, we have not identifled èw matenal uncerteintles relgtinll to 2vents or c￿dIt￿n5 that, Individu811y or Coll￿tIVely, m8y Cast S1￿1t1¢8Tht doubt on the ch8rit8bie company's 8È41ity to C£￿tInUe as 8 goiw concern for a perrmy of at least twelve months from when the fin8nclal 5tgtements aro authorised for issue Our reswn51￿11tles and the rswnsibilities of the trustees with respect to going concern are described In the r8levant 5￿tIOnS of thls report oth•r Inlorm•tlon The at￿r Information comprises the inforrnation InclLKJ8d In the annual repurt and financial steterwts, other than the financial staternents and our auditry'g report thereon. The trustees Bre re5wnslble for the oth8r intorm8tion Contain￿ wthin the annijal reFort and financial statements. Our oplnbn on the financial statements does not cover the other InformatlON and. except to the extent otherwise explicitly staled In our re￿rt. we do mt exwess enu frxm of aSstJrar￿e cmcLusicn thereon 38

we have mt received all the Irifomatlon ar @xFAanation5 we reywire for our 8udit,. or the ttustEes were nol entitled to prepare the financial statements In acwdance wlth the srnail corrp8nies regi￿ and take 8dvant8ge or the sma companie5, exemptions in preparirKJ the trust￿5, re￿)rt and from the reqUi￿r￿t to wepart strategic r8rk)rt. R•sponslbSlltles of tiustee• As è¥08ined rrnre t￿lY In trusteas, r9swnsiblllt￿s st£ternent, the trustees Iwm are also the directors of the charilabie CLwny for the wrp)ses or compan 18wI are responsible for the ryeparatlLkn uf the flr)anci81 statements lor being satisfied that they give true and fair view, for such Internal control as the trust￿ deterrnm Is wessaru to enoble th8 prEpaf8tion of finorlal stbterThynt5 that 8re fr88 frLYn m8terlg1 misst&temgnt. wtrther due ta fra￿ N effor and regulatlon r8mained alert thruughout our audit to any Indications of ncm-compli8r)ce, with areas of histhest risk comrnunicated to ail rrÉmber5 Ot the Jdit team. The charit8bie company is to laws and regu12tions directlu affectiw thÈ financial 5taterrntg includiro financl81 reporting legislat￿￿ arvj taxation ieo151ation whkh we a95es5ed comFliance wth as part of our review of re18ted flnanc181 st8tement Iterns This Includes the Chgritie8 Act 2011 entj Cumpanie5 Act 2006 as rerÈreT￿ed abave. Other laws and regu18tions of whlch compll£nce was consldered hioher rlsk la$ n-compliance C￿1￿ lead to m8terial misstatement of the financial statements) Included anti-LlLEr¥ reoul8tions, ¢mploument law, ￿1th ond safety legi48t￿n 8nd (Jata protectlon r8gulatlons. We ronsky8r￿ 8re85 wthlch could be rrwjst susceptible to freud ￿ misstatement, wh￿h Include(I the use of iourn81s and 5U5kEnse account5, rn￿agen￿nt o¥Èrride of controls and our wryk has been per1￿Med to EnwrE that these 3re8s have been tested on a samplo b9￿5. including the use Df data andutics to review for unusual Iransactkms h yeparlng the financi81 ststemonts. the trustees ere leSkK11151ble for assessiro the charitHLAe company's èbility to continue 05 a aoino CO￿￿n. disclosino a5 Applica￿e, matters rolated to goiro concern and usiry the guiw concern basis of accounling unless the trustee5 either InteThl to liquidate tIE charitable company or to ceas$ 0￿ratIons, cr have no reallstlc alternative to do 50. Owing lo the Inhwent Iimit8llons of an 8udit, ttterels on ungvoidabie risk that we may not have detect8d malgnal misstatement within the fin8nci81 statements while pertormino ow au(Jit In 8ccordarKe with applicable audit standards. Irregularltles may InwJlve 8 colluSlLn. fugery, Intention81 omis510n5, MI5repr￿entatiOn$, or o¥prride of InternBI controls. We are mt reS￿nSIbLe fL prwenting non-compliance cannot expected to detect non-compliance with 811 lows and regulations. Audltor's responslbllltl•s lor th• audlt of the flnanclal $1•t•m•nls Our obl8ctl￿S are to obtain re850n&bie asswgnc8 aboLrt whether the tlngnciei statements as a whde are free from mAterial misstètèment, whetkr due to frauEI or Erro, and t01s￿e an auditor's report that IncILQ￿ opsnion ReasonatAe assurance 15 è high Ivwel of 85surance but Is not 8 guarantee that an wdlt conducted In acciydance with IS4s IUI<I will olwtys dEtect a material misstatement Wh￿ Il oxists. A furth8r d¥srrlptth of our r￿p)nsI￿.11tle5 Is 8v&ilabie on the Flnancial Reportinq CouKil'5 website 8t www.frc.org.ukl•udltorsre$ponslbllltl•8 Thig description ftjrms part of our wditor s rewrt. Us• of our r•port Thls ￿￿rt Is made solelu to the charit8trAe comp8nu s members, as 8 trndy, In aCCordar￿0 with Chapter 3 of Pert 16 or the Companles Act 2WE. Our OLKJIt work has bn und$rt8ken so that we rn￿ht st8te to the charlta ccrnpany s memtrErs those matters we are requlred to slate lo them In an audit￿.$ rerA)rt 8r¥J for M other purpose To the fullest extent permitted by law, we do not 8ccept or 8ssurTrè reswnsibility lo Bnuone other than th@ charitable compafjy and th& charitable company's member5 as 8 bDdy, for our aLhlit work, fix this repcrt or for the cpinions we have forry Misstètements con adse from fi•A or e￿or 8rg considered material If Individu811y or In the agureuote, they could reasonably ￿ e¥￿t￿ to Influence the 8cory)mlc decisws of users tsken en the tsa￿S ol these fInar￿la1 statefftnts Irr£gul8rities, includiw froud, ar8 Inst8Kes cf ThJn-compliÈnto with 18ws and regulations. We design pr￿edureS In line with our respunsibilltles, outline(J above. to detect material mlsslat•mènts In reswct of irregulgritie5, including fr8ud The extent to which procedure5 are capatle of (Jgtecting Irreoul8Mties, I￿lUdIng fr8ud Is Iyetaliaj telow. We identified area5 of laws and regulations thet could re850n8bly be expected to have a matEri81 effect on the finarrial state￿ntS lor charltable companies operatiw within th15 sector, through our own eXPEn- once as well as through discussion wlth manag8rn￿t and those ch8rged with governvnEe ond Inspection of regulatory legal correspondence. We rwiewed cies and procedures r£garding comp118nce with 18WS Edward Fln¢h Isenior St8tuEory Auditorl and on beh81f of Buzz8COtt LLP, Statutory A￿d￿Or 130 wor￿ Street. London EC2V 6DL 39