Charlty number: 245824 The Cooper and Adkinson Almshouse Charity Unaudlted Trustees. r•port and financlal ststements For the year ended 31 March 2025
The Coopgr and Adklnson Almshouso Charlty Contonts PBge Trusteos Refgrnn¢e and admlnlstratlve deta115 01 the charlty and advlser8 TnMtèo8' report Independent exarnlner's report Statsment of flnanclal actlvltlèg 8alanG¢ sheet Notes to the flnanclal statemonts 10-19
The Cooper and Adklnson Almshouse Charlty Trustses For thè year ended 31 March 2025 Trustaès & officers Rev Dr M Kells, Ex-officlo Trustee {appolnled 15 May 2025) Mrs C Roblnson, Ex-officlo Trustee Ireslgned 14 May 20241 Ms R Newinglon. Ex-Offl¢io Trustee (appointed 10 October 20241 M Keeler-walker Esq, Ex-OffiGto Truste¢ C B Wacher Esq - Chaimian, Co-optative Trustee Mrs P Coare, Co-optative Trustee Canon C Gower, Co-OPtsUve Trustee T B Wacher Esq - TTeasur8r. Co-oplative Trustee S Anderson Esq, Co-oplalive Trustee {appolnt6d 22 August 2024) Mrs K Lovell, Cowoptatlve Trustee lappolnted 22 August 2024) Ms S Woolnough. Clerk Page 1
The Cooper and Adklnson Almshouse Charlty RoferenGe and admlnlstratlve detalls of the charlty and advlsgrs For the yoar ended 31 March 2028 Regulator of Soclal Houslng reglstration number A3783 Charlty reglstered number 245824 Prfnclpal offlcfr st Martin and St P8ul'8 Perlsh Office Church Street {St Paul8) Canterbury Kenl CT11NH A¢¢ountanls Batchelor Coop Llmlted Chartered Accountsnts The New Bam Mill Lane Eastry Kent CT13 OJW Bankèrs Lloyds Bank plc 49 HSgh Street Canterbury Kent CT12SE Pag8 2
The Coopar and Adklnson Almshousè Charity Trustees. report For Ihe year ended 31 March 2025 The Twstees present their annual report together wilh the flnancial statements of the Charity for the yèar 1 April 2024 to 31 March 2025. Objectlves and Actlvltles Poll¢les and oblè¢tlves The Charity Commlssion scheme governing the charity provides that almshouses shall be provlded for poor persons of good character who (except in special cases to b8 approved by the Charlly Commission) are Inhabltants of Canterbury wlth, where possible, iwo almshouses being occupied by poor widows previously resident in the formor ecclesiastical parish of Sl Paul Canlerbury. Actlvltles for achlevlng obje¢tlves The main objeclSve of the Charity is met by the provision of almshouse accommod8tion in 6 almshouses at Lower Chantry Lana, Canterbury. Further to thls, the Charlty wlll Insure, repalr, maintain and Improve the Almshouse propertles In Its POSSèS5ion. The Trustees have a dlscr81ion to apply surplus Sncome for the benefit of any or all of the r85idenls. Subj8¢t to the above provisions concerning th8 qu81ificatlons for housing and Ic the practical limilatlon$ in the nalure of Ihe accommodation, including thal no warden or care facilities ar& provlded, the Truste85 do not dlscriminate on grounds of race, religion, disability or other protected characlerislics and will consider appllcants from all parts of the communlly, In pursuance of the Charlty's cbjectives for the year, thè Twslees hav8 considered the Charitiès Commission guldance on public beneflt and conslder that this has been complied with. Achievements and performance Key flnanclal performance Indlcators The Charity's key financlal performance indlcalor is the level of almshouse occupancy. During the year, the Chailty achleved 87.SVo occupancy12024.' 100'kl. The Charily also mc)nitors the need for maintonance lo the almshouses and the level of expenditure on the malntensnce of the almshouses, During Ihe year maintenance expenditure was £35,95712024'. £31,036). The levol of expenditure Incurred in any year reflects the Implemen18tion of recommendations arising out of the Charitls last Qulnquennial inspection and other matters identified as requiring attention in each pèriod. During tha year. the charity's list8d inveslmonts showed an over811 return (comprlsing the movement in the underIng asset valua and dislribulions recelvedl of a posltlve 3.30/0 {2024.' positiv8 9.4Vo), thls compares to a total return on the FTSE all share index of p081tlve 10.5Ll/b {2024 Posltive 7.6V/ol. Revlew of actlvltles Thè Trustees met flv8 times from 1 Aprll 2024 to 31 March 2025. The full board was charred by Christopher Wacher with Pamda Coere facililaling meetings of the Executive Subcommitte8 in as8181ing the Trustees to fulfil the Charlty'y st81ed aim8 and objedives. Since the last annual report the Charty has filled the then existing Iwo co-optallve Iruslee vacancies and (with the inductlon of a new benefice rector) the ex officio trustee vacancy has also been filled. Trustees. and i)fflcers' commltment has bean signlficanl wllh admlnislralive work belng carrled oul through meetings and vla email, Not in$lgnific8nl physical works have been carriad out to th8 almshouses durfng the course of the year, The almshouse vacancy created by the death of a resldenl has b8en filled Iwllh major r6furbishm&nl works havlng been undertaken durlng the vacancy}. Covoptative Irusleg Pamela Coare has been appointed Pastoral Trustee - the one with a direct end constanl link wlth all $Idents. Page 3
The Cooper and Adklnson Almshouse Charlty Trustees. report Icontinuedl For the year ended 31 MaTGh 2025 Review Of activities (continued) Within the requirements of the Bribery Act 2010 the Truslees contSnue lo recogni5e Ihelr le981 duty lo safeguard the Charitrfs assets and lo 8¢t with such skill and care 8s is reasonable in all circumstances, whe approprlate uslng professlonal sklll and knowledge. Annual Retums requlr8d by Homes Englarsd and the Charlty Commisslon were completed and submltted by Tom Wacher (Hon Treasurer and trustee). The 2025126 budget was discussed and agreed with the Weekly Maintenance Contributions paid by each residenl being sllghtly increased (generalty 10 £77 a weekl. Golng concern After maklng approprlate enquiries, the Trustees have a reasonable expectation thal the Charty has adequate resources to continue In oper8tional existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial slatemenl$. Further detaiSs regardlng the adopiion of the going concern basis can be found in Ihe accountlng policles, Prlncipal risks and uncertalntles The princlpal rlsks whlch the Charity faces are in relaOn lo the level of almshouse occupancy that the Charily achlev8S, the m81ntenance of the Charitl$ almshouses and the perfomance of thè Charity's investments. These risks and uncertainlies are monltored Ihrough the use of key perfomance indicatots as Set out above. Financial rèvlew {Includlng reseNes and Investment pollcy> The Charlty's total reserves are £477,118 (2024.. £495,200). Of this £256,019 (2024: £256,019) relates to the cost of the Charitvs property and £89,42712024: £93,796) of pemianent endowment funds are held In Income generating inve5trnenl$. The rem81nlng £131,672 {2024'. £145,385) Is avallable for the Charitls everyday expenditure and other d8slgnated purposes, of this £91,027 (2024: £85.860) 18 held in inwme generatlng inveslmenls with the ba18nce hèld on short term deposit or instant access accounts. R8S8rves are reviewed on an ongoing basis lo ensure that they are adequate lo fulfil th8 Charlty's contlnulng obllgatlons. Struduro. gov6manco and management Constltutlon The Charity is managed under a Charity Commission Scheme dated 7 September 1987, 88 amended by Truslee resolution of 8 July 2021. from an amalgamation of the Thomas Sankey Cooper and Henry Cooper Almshouses and the Charity of John Adkinson for Almshouses. The Charlty was registered by the Charity Commissioners for England and Wales on 13 December 1965 and numbered 245824. It Is al$0 registered wlth the Regulator of Social Housing (previously the Homes and Communllles Agency and the Tenanl Seryices Authorilyl as a Housing Asso¢iatlon numbèred A3783. There have be8n no changes in the objectlves slnce the18St annual report. Method of appolntment or eloctlon of Trustees Ex-officio Trustees are the Rector and Churchwardens of the Eccle8la$llcal Parish of St Martln and St Paul, CanteTbury. Co-oplative Truste8$ are appointed for a term of five years by resolutlon of the Trustees. The names of the Trustees who served during the year are shown on page 1. Pollcles adopted for the inductlon and tr8lnlng of Trustees Once a new Trustee is appolnled, they are given a Copy of the Charity Commlssion Scheme, a set of the last accounts and a brief history of the Charity. They are encouraged to vlsit an almshouse to better their understanding of the Charitys activities. Trustees are kept up to da18 as thay receive regular updat8s frorn the Charity Commlssion. Future developments The Charity will conlinue to monitor the level of ils maintenance conlributions and the standard of its almshouse properties to achieve as hlgh a 18vel of occupancy a$ possible. Over tho last 5 years, occupancy has averaged 97.511/0 and the Charity budgels lo achieve an occupancy18vel of 92.5Vo. Page 4
Tha Cooper and Adkinson Almshouse Charity Trustees. report (contlnuedl For the year endèd 31 March 2025 As nDt8d above, during the year, the Charlty ¢ontinued its investment in the malntenance and improvement of the 81mshouses rèsulting in total repair and malnlenanits axpendilure of £35,95712024.' £31,036). In addilion to provldlng for gen@ral malnlenance costs, the Charlty sets aslde amounts for cycllc81 and extraordlnary malntenan¢e costs Sn lin8 with th8 guldance provlded by the Almshouse Associallon whlch in the year tolalled £10,09812024'. £9,708). D8signated balances carrlèd forward on Ih8sè fund8 total £23,98412024.' £48,285). Costs can flucluale slgnificantly beeen actual and amounts set aside depending on the scheduling of works arising from the Charills latest Quinquennial inspectlon and matters arising in the year. The Ch8rltqs Executive committee monltor the performance of the Charity's investments to ensure that the return generated on the inveslmenls is appropriate to the risk profile of those investments and the Charity's own risk profile. Trustees. responslbllltles statement The Trustees are responsible for preparlng the Trustees, report and the flnancial statements In accordance with appllcable law and United Kingdom Accounting Standards {Unlted Klngdom Generally Acc8Pt8d Ac¢ounting Practice). The law eppllcable to charities In England & Wales requlres the Trustees lo prepare financlal statements for each flnanclal y8ar whlch give a true and fair vlow of the state of affairs of the Charlty and of the Incoming resources and 8pplicatlon of resoLJr¢es of the charity for that period. In preparSng these Ilnancial slalements. Ihe Trustees are r8qulred to.. select suitable accounting pollcies and then apply them consistenuy. observe the mathods and principles in the Charities SORP (FRS 1021,, make judgm8nts and accounting estlmates that are reasonable and prudènt., state whelher applicable UK Accounting Standards {FRS 1021 h8ve been followed, sublecl to any malerSal departures dlsclosed and explained in the financial statements,, prepare the financlal statemenls on th& going concern basis unless 11 is Inappropriate to presurne that the charity will continue in operation. The Trustees are responslble for keeping proper accounting records that arè sufficient to show and explain the Charitls transactions and disclose with reasonable accuracy a18ny Ilme the financi81 position ol Ihe charlly and enable them lo ensure that the flnanclal slatementg comply wllh the Charltles Act 2011. the Charity (Aocounls Snd Reports} Regulations 2008 and the provlsions of Ihe trust deed. They aro also responslble for 68f8guBrdlng the 8ss8ts of the Charity and hence for laking reasonable steps for th& prevention 2nd detection of fraud and other Irregularllles. This report was approved by th8 Truste8s, on 16 19 125 and signed on Iheir behalf by., C B Wacher Esq - Chairman, Co-optalive Trustee S Anders n Esq, Co-oplatlve Trustee Page 5
The Cooper and Adkinson Alrnshouse Charlty Independent examinerfs report For the year ended 31 March 2025 Independent gxamlnerfs report to Ihe Truslees of The Cooper and Adklnson Almshouse Charfty {Ihe 'charlty') l réport to the charity Trustees on my axaminalion of the accounts of the charity for Ihe year ended 31 Marth 2025. This report Is mad6 solely to the Charftys Trust885, as a body, In accordance wlth Part 4 of the Charille$ {Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the Charills Trustees those matters l am required to state to them in an Independent examine¢s report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responslblllty to anyone other than Ihe Charity and the Charllls Truslees as a body. for my work or for thi$ report. Responslbllltles and basls of report As the Trustees of the Charity you are responslble for the preparation of the accounts in accordance wSth the requirements of the Charitie$ Acl 2011 (Ihe 2011 Act,). I report in respecl of my examlnation of the charltys accounts carded out under sectlon 145 of the 2011 Act and In carrylng oul my examlnatlon I have followed all the applicable Directions given by the Charity Commission undér sectlon 145(5){b} of the 2011 Act. Independent examlnorfs statement Your attentlon Is drawn to the fact that the Gharity has preparad the accounts in aCrdanCe with Accountlnp and Reporting by Charities., Slatement of Recommended Practicé appllcable to charities preparlng their accounts accordance with the Financlal Reportlng Standard appllcab16 Sn the UK and Republic of Ir8land IFRS 102) in prefer8nc8 to the Accountlng and Reporting by Char6tles: Ststement of Recommended Practice issued on 1 April 2005 whlch Is referred to In the éxtant regulatlons but has been withdrawn. l understand that Ihis has been don8 In order for the accounts to provlde a Iru8 and fair vlew In accordance with the Generalty Accepted Accountlng Practlce 8ffectlV8 for reporting periods beginning on or after 1 January 2019. I have completed my examination. I can confirm that no matters have come to my attention in conneclion with the examination giving me cause to believe that In any materlal respect: accounting rewrds were not kepl In respect of the charity as requlred by section 130 of the 2011 Act; or the accounts do not accord with those records., or thè accounts do not comply wlth Ihe applicable requirements ¢onc8rnlng the form and ¢ontent of accounts set out in the Charltie$ (Accounts and Reports} Regulatlons 2008 other than any r8quirement thal the accounts glve a 'true and fair, view which r)ot a matter considéred as part of an independenl examination. Page 6
Th• Cooper and Adklnson Almshouse Charfty Ind?p&ndent examlner's report (contlnued) For tho yoar gnd•d 31 March 2025 I have no Concems and have come across no other matters In ¢onn8clion wlth the Èxamination to which attentlon should be drawn In th18 report In order to enable a proper und6rstandin9 of the accounts to be reached Slgned: Dated: 26 M Balchelor FCA Batchelor Coop Llmited. The New Bam, Mlll Lane, Eastry, CT13 OJW Kent CT12TU Page 7
The Cooper and Adklnson Almshouse Charlty ststement of Ilnanclal actlvltles For the y•ar ended 31 March 2025 Endowmént Unrestricted funds funds 2025 2025 Total lunds 2025 Total fund8 2024 Note Income and endowments frorn: Charit8ble activities Investments 20,666 2,984 20,666 5,535 21.268 5.288 2.551 Totsl inoome and endowments 2,551 23,650 26,201 26,556 Expendlture on: Charitable activlties 45,078 45,078 38,192 Total exp•nditure 45,078 45,078 38,192 Nel Income l (expendlture) before Investmènt galnsl(Ioss8sI Net galnsl(losses) on investments 2,551 (4,369) (21,428) 5,164 (18,8771 795 (11.636) 10.877 Nel expendlture boforo transfers Transfers beeen Funds (1,818) {2.551) (16,264) 2,551 (18,082 (759) 12 Nel expendltur¢ before olher recognlsed galns and losses {4.369) (13,713} (18.082) (7591 Net movement in funds (4.369) (13,7131 (18,082) (7591 Re¢on¢lllatlon of funds: Total funds brought forward 93,796 401,404 495,200 495,959 Total funds carrl•d forward 89,427 387,691 477,118 495,200 The noles on pages 10 to 19 fomi part of Ihesè financlal statem8nts. Page 8
The Cooper and Adklnson Almshous• Charlty Balance shéet AS at 31 March 2025 2025 2024 Note Fixed assets Tangible assets Investments 256,019 180,454 256,019 179.656 436,473 435.675 Currènt assets Debtors Cash at bank and in hand 879 592 60,332 41,221 42,1QO 60.924 Crodltors: amounts falllng due within on8 year 10 {1,455) {1,399) Net current assets 40,645 59,525 N•t assetg 477,118 495,200 Charfty Funds Endowment funds UnTeslricted fund8 12 12 89,427 387,691 93,796 401,404 Total funds 477,118 495,200 The financlal statements were approved by the Trustees on 16 September 25 and signed on thelr behalf, by,. C B Wachfrr Esq - Chalrman, Cowoptatlvo Trustee S Ander on Esq. CoptatIve Trustèe The notes on pages 10 to 19 form part of Ihese financial statements. Page 9
Th9 Cooper and Adklnson Almshouse Chorlty Notes to the financial statements For the year ended 31 March 2025 A¢¢ounllng poll¢les The Cooper and Adklnson Almshouse Charlty is an unlncorporated charlty registered In England and Wales. Th8 Ch8rlWs princlpal offlce Is at Sl Martin and St Paul's Parlsh Office, Church Street {St Pauls), Cant8rbury. Kent, CT11NH. 1.1 Basls of pr•parallon of financlal statements The financial statements have been prepared to give a 'true and fair, view and have depart6d from the Charlties (Accounts and Reports) Regulations 2008 only to the extent requlred io provide a 'lrue and falr, view. This departure has involved following the Charilies SORP {FRS 102) publlshed on 16 July 2014 rather than the Accounting and Reportlng by Charities., Statement of Recommended Practlce effedlve from 1 April 2005 whlch has since been wlthdrawn. The financial statemenls have been prepared under the hi5torlcal cost ¢onvention wilh items re¢ognlsed at cost or transactlon value unless othemlse stated In the relevant notes to these accounts. The financial statement5 have been prepared in accordance wilh the Statement of R8commended PractSce: Accounting and Reportlng by Charllles preparing thelr accounts In accordance with the Financial Reporting Standard appllcabl8 in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), Ihe Financial Reporting Standard applicable in the United Kingdom and Republlc of Ireland {FRS 102) and Charltles Act 2011. The Cooper and Adkinson Almshouse Charity constltutes a publlc benefit entity as defined by FRS 102. 1.2 Golng concern The Trustees assess whether the use of golng COnM Is appropriate I,e, whether there affj any material uncertainties related to events or condltlons that may cast slgnfficant doubt on the abiliiy of the Charity to continue as a going concern. The Trustee8 make thls ass8ssment In fesp8d of a perlod of at least one year from the dale of authorisation for issue of the financial statements and have ¢oncluded that the Charity has adequate resources to continu6 In operatlonal exl8tence for the foresee8ble future and Ihere are no rnalerial uncertainties about the Charilvs abllily to continue as a going concern. thus they Continue to 8d¢)pl the going ¢oncem bas1$ of a¢¢ounting In preparing thé financial statements. 1.3 Invèstments Fixed asset investments are a form of flnancial instrum8nt and are initially recognised at Ihelr Iransactlon cost and subsequently measured at falr valuè at the Balance Sh8el date. unless fair value ¢anrt be measured rellably In whlch case they are measured at cost less impaimient. Investment galns and losses, whether reallsed or unrealised, are combined and shown in the heading 'Gainsl(losses) on inveslmenls, in the Statement of financial activities. Pag& 10
The Cooper and Adklnson Almshouse Charity Noles to th8 financial stat8ments For tho year ended 31 March 2025 Accountlng policies Icontlnued) 1.4 Tanglble fixed assets and dèpreciallon Tanglble fix8d assets are staled at cosl less depreciation. The Cooper and Adkinson Almshouses were constructed circa 1900 and £1,750 has been attributed to the origlnal cost. The Housing propervs cosis relate lo impruvements carried out since 1987 which were funded by a Housing Association grant-. a mortgage loan from Housing Corporation secured by a charge on housing, land and buildings., and from the Charity's own resources. The Charity capitalises expenditure In relation to the construction or extension of ils properties. Expenditure rolaling to the replacement of an asset that already exists, including expenditure when due to the passage of lime the rep18cement asset is considered lo be an improvement on the original asset, is wrllten off to the income and expenditure account. The esllmated resldual values of th8 Charltls freehold properties are considered lo be in excess of Ihls nel book value. The Trustees are of the oplnlon that any depTeciatlon In respect ol the Charity's freehold properties would be immaterial and consequently no provlsion is made In the accounts for such depreciation in order to achieve a fair presenlallon. Th8 Tru8lee8 will review these properties on an annual basis on order to ensure that no provision for impairm&nl is required. 1.5 Fund accounting Genergl funds are unreslricl8d funds which are available for use at the discr81ion of the Trust8e$ in furtherence of the general objectives of the Charity 8nd which havg not been designated for other purposés. Designated funds comprise unrestrlcled funds that have been set aside by ihe Trustees for particular purposes. The alm and use of ea¢h designated fund is set out In the notes to the financlal stalaments. The Permanent Endowment Fund is managed on an income only basis. Monies are held in fixed a8S&t investments with the income from these investments beSng applied 1¢ further the objectives of Ihe Charity, Movements in the capltal value of the investments ere rel8ined within the Pemianent Endowment Fund. Investment incom8, gains and losses ar8 allocated to the appropriate fund. 1.6 Income All Incom8 is recognised once the charity has entitlement lo the income, il is probable that the income will be received and the amourbl of incorTie receivable can be measured reliably. 1.7 Expendlture Exp8nditure is recognlsed once there is a legal or Gonslruclive obligation to transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required In settlement and the amount of the obligatlon can be measured rellably. Chariteble actlvllles and Governance costs are costs incurred on the charills operallons, includin9 Support costs and costs relating to the goVerTran of the charlly apportion6d lo charitab18 activilies. Page11
The Coopor and Adkln$on Almshouse Charlty Notes to the flnan¢ial statements For the year ended 31 March 2025 Accountlng pollcles {contlnued) 1.8 Government grants Th6 Charily has recelv8d Housing Assoclalon Grant (HAG) from the Housing Corporation towards the cost of fixed asset developmenl. Under lh8 Charltl8s SORP 2019. the Charity has recognised all of this income as grant Sncome In the year that It Is recelved and the performance condlllons are met. HAG 1$ repayable under certain circumstances, primarily followSng the sale of a property but will normally be restricted to nel proceeds of sale. 1.9 Interest receivable Interesl on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity. this is normally upon notification of the int8r6st pald or payable by the Bank. 1.10 Cash at bank and In hand Cash at bank and In hand includes cash and short t8rm hlghty Ilquld Investments with a short maturity of three months or le88 from the date of acquisltlon or opening of th8 deposlt or slmllar account. Investment Income Endowmont Unrestrictèd fund6 funds 2025 2025 Total funds 2025 Total funds 2024 Other investment incomè 2.551 2,984 5,535 5,288 Total 2024 2,501 2,787 5,288 Incomlng resourcfrs from charllable actlvltles Endowm•nt Unrestrlcted fund$ funds 2025 2025 Total funds 202S Totsl funds 2024 Weekly maintenance contributlons 20,666 20,666 21,268 Total 2024 21.268 21,268 Pag& 12
The Coopor and Adklnson Almshouse Charfty Notes to the Ilnanclal stateménts For the year ended 31 March 2025 Charltable actlvltle8 Endowment Unrestrlcted funds funds 2025 2025 Total fund$ 2025 Total fund5 2024 Insurance Repalrs and malntenance GFfts to resldents Essential services grants Electrlclty and water rates Gardening Window cleaning Subscrlptlons Sundry Honorarla Accountancy fees 1,530 35,957 900 1,430 560 1.971 210 964 151 750 655 1.530 35,957 900 1A30 560 1,971 210 964 151 750 655 1,527 31.036 1,050 1,500 263 1,020 210 473 13 750 350 Total 45.078 4S.078 38,192 In 2024, all exp8ndlture was from unrestrfcted funds. Net Incomel(expendlture) Durlng the year, no Trustees recèived any remuneratlon12024 - £NILI. During the year, no Tnjslees received any beneflls In klnd12024 - £NIL). Durin9 the year, no Trusteès rec6Ived any relmbuisement of expenses (2024 - £663). Audltor8' remunerallon Th& Independent Examln8r's r6mun6ratlon amounts to an Independent Examlnation fee of £ 65512024 - £ 350). Page 13
The Cooper and Adklnson Almshouse Charlty Notes to the flnanclal statements For the year ended 31 March 2025 Tanglble flxed assets Houslng Land and bulldln98 Cost At 1 Aprll 2024 and 31 March 2025 256.019 Deprrfiation AI 1 ApTiI 2024 and 31 March 2025 Net book valuo At 31 March 2025 256,019 At 31 March 2024 256.019 The Alm$hou$e$ were ¢onstru¢ted ¢lr¢a 1900. £1,750 1$ attrlbuted to the origlnal cost. The above detsi18 rel8t6 to Ihe original c08t and improvements carried out since 1987 whlch were funded by a Houslng Corporation Grant of £178.697 and Residual Mortgage Loan of £33,355 now fully repald. Th6 balance of £43,968 wes provided from Ihe Charltys own resources. All the land and bulldlngs held are freehold and all thé properties are lor thè occupation of almspersons. Ther8 ar8 6 Almshouses. The carrylng value of the AlmshouseB Is substsnllally 18s8 than Its maet value In th8 opinion of the Tru81888. The almshouses are currently insured for £1.430,290 {2024'. £1,356.923). Page 14
The Cooper and Adklnson Almshou80 Charlty Notes to the financlal 6tatomentS For th• year ended 31 March 2025 Flxed asset Investments Llsted securities Market valuo At 1 Aprfl 2024 Revaluations 179,656 798 At 31 M8rch 2025 180A64 Hlstorl¢al cost 108,956 Materlal investments 31 March 2025 31 March 2024 COIF Charltles Investment Fund - Income unlts Schroders Equlty Fund - accumulation unlts M&G NAACIF- Income unlts 89,427 30,199 60,828 93,796 26,451 59.409 180,454 179,656 Materlal réstrlctlons The schome for the regulation of the Charity provides that up to £28,537 may be applled towards the cosl of rep8lrlng and modernislng the Almshouses but Ihal any such loan by the PermAnent Endowmenl Fund shall be repaid by a sinking fund over a perlod of thlrty years by Investment inlo a separate dèsignated account. Debtors 2025 2024 Other debtors and prepayments 879 592 10. Creditors: Amount8 falllng due wllhln one year 2025 2024 Trade creditors Other creditors and accruals 780 875 750 649 1,455 1.399 Page 15
The Coop¢r and Adklnson Almshou¥• Charlty Notes to the flnan¢lal statements For tho year ended 31 March 2025 11. Analysls ol net assots between fund$ Analy818 of net assets betw••n fund$ - ¢urront y•ar Endowment Unrostrlcted funds funds 2025 2025 Total funds 2025 Tanglble flxed a88ets Flxed asset InVements Current assets Credii(Jr¥ due wlthln one year 256,019 91,027 42,100 (1.455) 256,019 180.454 42.100 (1A551 89,427 89,427 387.691 477,118 Analy$l¥ of net assets botween funds . prlor year Endowrnenl Unrestricted funds funds 2024 2024 Total funds 2024 Tanglble fixed assets Flxed asset Investments Current assets Credllors due wlthln ona year 256.019 85,860 60,924 11,399) 256,019 179,656 60,924 11,399) 93,796 93,796 401,404 495,201 Page 16
The Cooper and Adklnson Almshouse CharSty Notes to the flnancial stateménts For thè year end•d 31 March 2025 12. Statement of funds Statement of funds . current year Balance at 31 March 2025 Balance at 1 Aprll 2024 Transf8r8 inlout Gainsl (Losses) Incomè Expenses Doslgnated funds Cy¢ll¢al Repair Fund Extraordlnary Repair Fund 22,538 25,747 (8,983) 125.416) 6,264 3,834 19,819 4,165 48,285 {34,399) 10,098 23,984 General funds General Funds 353,119 23,650 (10.679) {7,5471 5,164 363,707 Total Unrestrlctéd funds 401,404 23,650 (45,078) 2,551 6,164 337,691 Endowment funds Endowment Funds 93,796 2,551 (2,551) 14,369) 89,427 Totsl of fijnds 495,200 26,201 (45,078) 795 477.118 ststement of funds - prlor year Balance at 31 March 2024 88lanc6 at 1 April 2023 Transfers inlout Galn81 (Losses) Income Expenses D•slgnated funds Cyclical Repeir Fund Extraordinary R8pair Fund 43.783 19,420 {27.269) 6.024 3,684 22,538 25.747 2,643 63,203 (27,269) (10,923) 9,708 2,643 353 48.285 General Funds 346,841 24,055 {7,207) 12,5011 353,119 Endowmenl Funds 85,915 2,501 7,881 93,796 Page 17
The Cooper and Adklnson Almshouse Charlty Notes lo the flnancial statements For the year ended 31 March 2025 12. Stalèm•nl of funds (Contlnued) Summary of funds - current year Balance al 31 Mar¢h 2025 Balance at 1 Aprll 2024 Transfers inloul Galnsl (Losses> Income Expensgs Designated fund8 General funds 48,285 353,119 {34,3991 110,679> 10,098 17,547) 23.984 363,707 23,650 S.164 401,404 93,796 23,650 2,551 145,078> 2,551 12,551) 5,164 (4,369) 387,691 89,427 Endowmenl funds 495,200 26,201 145,078) 795 477,118 Summary of funds - prlor year Balance at 31 March 2024 Balance al 1 April 2023 Transfers Inloul Gainsl {LossesJ Income Expenses Deslgnaled funds General funds 63.203 346.841 (27,269) (10,923) 9,708 (7,2071 2,643 353 48.285 353,119 24,055 410,044 85,915 24.055 2,501 (38.192) 2,501 12,5011 2,996 7,881 401.404 93,796 Endowment funds 495,959 26.556 138.192) 10,877 495,200 Designated fund - Cycllcal Repair Fund The scheme for the regulation of the Charity requlres that the Trustees shall establlsh a reseNe fund for the purpose of provlding for those items of ordinary malnlenance and rèpair which recur al infrequent intervals. Thè mlnlmum annual sum to be Sel Sslde as advised by the A1rn8house association 18 £1,044 Per dwelllng {tolal £6,264). Costs are charged to the Income and expenditure account in the year in whlch they are incurred. Deslgnated fund - Extraordinary Repair Fund The scheme for Ihe regulation of Ihe Charlty requlres that the Trustees shall establish a reseNe fund for the purpose of providing for exlraordinary repair, improvement or rebuilding of the Almshouses. Thè minimum annual sum to be set aside as advlsed by the Almshouse association is £639 per dwelling (totsl £3,834), Costs of extraordinary repairs are Charged to the income and expenditure acwunt in the year in whlch they are Incurred, costs of rebulldlng the Almshouses would be Ireat8d as capllal 8xpendltur8. Endowment fund Income from the Charlty's perman8nt endowmenl Is available to be applled agalnsl the Charlty's general expenditure. Movemenls in the value of the permanent endowment funds held as fixed assèt Investments are retained In the p6rman8nt endowment fund to fund future expenditure. Page 18
The Cooper and Adklnson Almshouse ChArlty Notss to thè financlal 8tatement5 For the year ended 31 March 2025 13. Rèlated party transa¢tlon8 Except as dlsclosed in note S above, there have been no transactlons with any relaled partles of the Charlty. Page 19