ALMSHOUSE CHARITY OF SIR WILLIAM POWELL
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Registered Charity Number. 247066
Registwed PfovKler Number. A1137

Contents
Page
Legal and Administrative D8tails
TNslees' Annual Report
Independent Examinerfs Report
Statement of Financial Activities
10
11
Balance Sheet
12
Not8S to the Finan¢lal Statements
13-20

ALMSHOUSE CHARITY OF SIR WILLIAM POWELL
LEGAL AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2024
Chairnan:
Rev.Penny Seabrook
Deputy Chaim)an:
Cllr Adronle Alford
Hon Treasurer.
Phihp Hedges
Other Trustees..
Cllr Sharon Hold
Judith Graham
Laura AucklarKI
Paul Hall
Catherlne Cull Thomas
Robert Rose
Cllr Lucy ￿'chardsOn
Paul Alexander (resigned 181041231
Rev.Peter Kettle
Cttr 0￿1 Bro*r (appointed 201051231
Clerk to Ihe Tnjstees..
Katie AWKdo￿ones
Régistered off ic8:
CIO The Lygon AlmsfK)uses
313-321 Fulham Palace Road
Fulham
LorKlon SW6 6TH
Bankers..
NatW8St Bank
45 Fulham Broadway
LoTrJon SW6 1AG
Solicitors:
Woodlords
11 HaTh￿)0d Road
London SW6 4QP
Independent Examin8r'.
ch￿Van Williams FCCA
Chartered Certlfled Accountant
Verrlanl Accountants Ltd
20-22 Wenlock Road
London N17GU
Investment advisors:
Wavérton Inv8stm8nt Management
16 Brabmaes Street
St Jarnes's
London
SW1Y 6AH
Statutory registrations..
Registered Charity Number. L2 247066
Registered Provider Number A1137
The Trustees present t￿r report and unaudited accounts for the Ye￿ ended 31 March 2024.

ALMSHOUSE CHARITY OF SIR WILUAM POWELL
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Constitution, objects and poli¢i8S
The Chanty is constitut&J by Trust Deed.
The Almshouse Charity of Sir William Powell wras founded in 1680 for older v￿Men over 60 of the Paiish of
Fulham vA)o were poorand of-gwd chardderf. Thi5 scheme VRS amended on 20 October 2008 to a￿W
Trust88s to accept applications from Pe￿OnS in need over 55 yeats of age resident wthin the Lo￿lon
Borough of Hammersmith a￿1 Fulham or else￿re in specia cases approved by the trustees.
The Trusl provides and manages 12 flats at Church Gate Fulham Lonc%)n and is assisted in this task by
Lygon AImS￿uSeS who undertake administration management aixd maintenance functions for 11
Almshouses.
Governing document
Th8 Goveming Dwumenl of the Almshcrt￿e Charity is its'Schen*" orTnJst 088d. the last amended VaSk
of which was sealed by the Charities Commissioner in October 2008.
Actlvltl88 and achlwomonts
The aIMs￿UseS are managed by the Lygon Almshouses under the terns of a management
agreement dated 22 March 2013 vknich includes the aerk applyiro her time exclusively to managing
the charity's almshouses. The Clerks hours increased f rom 12 to 15 hours per week to f acililate an
increasing workload. The Lygon Management fee Charged for the year was £21,3IXI ￿1¢h reflects
the Clerks aJditional hours (2023.. £16,309). The Trustees ar8 most grateful for Lygon's
managem8nt input and support.
In 2023124 the Chwity Increased Weekly MalntenarK8 Charges by 5% due to expected inflallon and
State pension increase. WMC rise vrds less than Ihe 7% recommended incr8asé by the Almshouse
Association. Service charges increased tw¢e dunrvJ the year by 8 total of £2 10 £16 per week.
Budgeted costs w8re contained wtherg Possible including a fixwj price energy contract renawed in April
2023.
Other rolrtinè matters vme as followE:
Water Hygiene Management VHM) caryied out a full Legionella Rlsk Assessment at the
Almshouse in Novembw 202
and made recommendations to the Twslees In order to minimise
risk. Monthly monitorir¥J by WHM of water temperdtures is ongoiTh3 and re¢omrnendations
are being addressed.
Routine repair I￿rkS and servicing of gas boilws were canied out. including an upgrdde to the
gas suppty running to the boiler house.
The f ire 818Ths arKI emergency lighting continue to be tested bi-annually by contractors along with
an annual inspection of f ire extInguishe￿ In all flals and communal areas.
A Firg Risk Assessment vras carried oul In September 2023.
The three-year cyclical EICR electrical survey ￿￿s carried out in all f lals In July 2023 and ogrtrfled.
Gutters and downpipes continu8 lo be cleaned biryannually arKI dralns contlnLJ8 to be inSp￿ted
and cleaned each year in December.
A full asbestos suNey was carried out at the Almshouse in Novèmber 2023 and no trdce of
asbestos vrds found.
The Valuations Office Agency carried out an Equlvalerrt Fair Rent Valuation of a sample flat at the
Almshouse as an assessment recommended in the Slandards of Almshouse Management. A non
statutory valuation was provided February 2024 vthich deMOr￿trated residents a￿ undercharged.

ALMSHOUSE CHARrrY OF SIR WILLIAM POWELL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Actlvllles and achlevements (continued)
Th6 Charity owns the f reehold of Hurlingham Mansions subjecl to long leases on 23 flats and cornn￿rC￿
propety. The Charity continues to receive grou￿1 rent in respect of Ihis propety. There were no lease
extensions sokj during the year. The Trustees met with the Managing Agent for the proFerty during the
to review the status. Recovery of outslandiw serrfice charges and losses due to breaGhes of a lease are
being pursued wlh on8 leaseholder.
Investment powers and pollry
The Trust Deed authonses the T￿￿teeS to invest cash not required forthe immedBt8WOrting purpow of
the Charfty and Waverton Investment Matbagernent is appointed to manage the porrfolio.
The Trustees have a limited appetite for risk and have instruc￿￿ the investsnenl manager that the lnvthn￿
mandat8should be cautious.hwththe long4erm 0￿.e(liveto outyrfomithe ConsumerPrice Inflati)n by 25%
per annum. To &hi8V8 this portfolio is Invested in the Waverton mult￿Asset Cautious Fund iton
rdnvesl8d. Cash Is held in th8 portfollo available to meet likely qulnqu8nnlal survey Works 8xpendth
f oreseen wthin the next f inancial year.
Organlsatlon and admlnlstrallv• Inforniatjon
The Chanty is organised under the dyecb'on of the Trustees Viilh the day404lay admnistralion, managa
and mainlenarte activilies delegated lo the Cler1( of the TNstees, Kalie ArengO￿0nes who is eMpbY￿ by
Thé Lygon Almshouses.
The Tn￿t appoints proFertyagentAckrKI & Lensamto managetts freghcld Investmentproperty lel on le
and receives regular reports from the wjent att￿dS Trustee m*tings upon request.
The administrative infornation on page three fomis part of this report.
Flnanelal rovl6w
Incom8 from charftable adI￿lJes, prfrKapallycharge8 to r8sldents, amount8d to £88,72612023'. £83,1PAI N)
voids of vaGant flats were Incurred (2023.. £620). Income from Inv8Stmnts was £25,47912023.' £29,6781
Expenditure on charft£ble acllwties was £82,547 (2023: £69,561) Increased due to bolbr works énayy costs
and management fees. Net inco￿￿ for the year was £81.61112023: £17,555). the increase being due tD tr
unrealised v81ualion gain £64,33512023: loss £54,737) within the investment porlfolio d ue to f avour*
market fluctuation.
Cash at bank at year 8nd was £55,36612023: £80,787) togetherwth additional cash held within W8Vaton
investment portfdio £225.008 {2023.' £154.3751. Cash is heFd in reserve for buildi￿ maintenance In TrJ
of volatlle stock markels and quinquennial and stone restoration survey works belng planned.
The Waverton portfolD contnued to perf¢Th better Ihan cautious and balanced in(lex benthmarks dur(vJ
year to 3111 March 2024. There was a fund switch from wavWi￿ MulliAsset Income Fund GBP B Class, rÉo
Waverton Mulli4sset Cautious Fur¥J during the year.
The Chanty is budgeted in 2024125 to a¢hieve £23,1￿ surplus of income over expw)diture on oper*
activities before valuations WKI mOvem￿t9 on inveStm￿t portfiolio.
Rlsks
The Trustees have overall responsitmlty l￿￿sUnng that the Chanty has appropnate systsms of cortDb,
financial and Other¥￿se. The systems of fnancial wrtrols at Charity are deskJn8d to proMd8 reasoTh*b,
but notabsoknte. assurance against rnaterf￿ misstalementorlos& They Includean annual budget, appDvgJ
by the Tfuslees, regular review of actual results and variances from budget. and delegation of authorty
segregation of duties as far as possibb. The Tnjst has Financi81 Standing Orders and controls and a rGk
map both reviewed 8nnu8lly by Trustees. mosi recenlly reviewed on V Dècember 2023. This risk rr4)
covers all areas of risk managenEnt. vrL residents, property, safety and finanoal governance. The Chanty
has no employee& The Charity remains cash g8n8rative before oxwtional repairs orexpenditrjre arf I
adequate reserves to meet 8xperMllture commitments.

ALMSHOUSE CHARITY OF SIR ￿L￿Am POWELL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Reserves
The Charity's designated and revenue reseNes are held to ensure its sustainabllty. A planned MaInter￿
reseNe is sel asidelo fund 6xtrdordnary repai￿, which arise principally out ofquinquennial suNeys.M
most recenl such suryey tcok pl￿ durirwJ the 2021 year. Annual surpluses are a¢cumulated ift the Ino)
and Expendlure Account Revaluation Reserve reflects the unre81ised gains and loss￿ on
revaluation of investrnnts aThJ investn￿nI proFerties. The social housng grant is a restricted r8serv&.
levels of these reserves are in Note 13 to the accounts. Th8 total reserve funds held at 31°, March
2024 were £1,620.070. of ￿lch £255,230 is a restricled reseNe. a￿1 £691,104 is a deslgnated blk rr)t
commitled ￿seThe Nthich will partly be applied to 2021 quinqu8nnial survey works. Together with cash on
hand and realisable sto(* rna￿et investsiients Trust88s consider the chanty's reserves held are approp
and re8dity 8V8ilable.
Publ1¢ benefit
The Trustees hav8 due regard lo guldanc8 publish8d by th8 Charity Commission on publlc bengftt
confirn they have compliéd with th8 duty in section 17 of the Charities Act 2011.
The Trustees consider that the Charity delivers public benefit through th6 provision of soi?al housing in tr
Almshouseflals. Whenflats becomevacantnewresidents are found bypub&cadvertisenpntornomirth)r6
ftDm Hammeysmith and Fulham Council or, failiry this, other referral agencies.
10. Value for monoy
The Trustees are miThJful of the need to obtari value for morEy in all transactions entered into on b*4f of
the Chanty. When major￿￿rkS are undertaken a competits've tender is carried OLrt whenever practical. Tr
Charity reViev￿d its utility supply arrangements durirKJ the year.
The regulator has issuad value for money metrics to 8rtsure perfomBn¢e Is measured conslst8ntly for 8>
Registered Provider. W8 have adopted th8s8 *thich are réported below.
Indlcator
2024
Ta
10.0%
Actual
2023
0.0%
2025
Tar
10.00
2024
0.0%
Roinvestment
in
devglok¥nent and capia
works
2a. New supply dellv8r8d.
Social housin
unils
2b. New supply delivered.
Non4ocial housin
units
3. Gearin
4. Inleresl cover includro
capitalised repairs
EBITDA￿R1
5. Social housing cost p
unit
6. Operaling margin
Social housi
letti
Operating
(overall)
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
£6,1
£5.862
£4.738
£6.DOO
8.0%
7.ov
16.4%
margii
12.0%
23.7%
29.1%
15.0%
Retum
on
capia
1.6%
20%
em
10. vaue for money (continued)

ALMSHOUSE CHARITY OF SIR MLUAM POWELL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
1. Relnvèstment- looks at the investmerrt in properties (existing stock as wel as new supply) as a
percentsge of the value of total properties hdd. No captal woths ￿re carried out on thg Almshous8s
thls year. Quinqu8nni81 suNey %•tvks planned for 202
2. New supply so¢lal houslng unlts- sets ¢Jut the numberof new S￿la1 hou&ng and rKJll-soGlal housing
units that have been acquir&J or developed in the y8aras a prowrtion of total social housing units and
norFsocial housirvJ units Own￿ at period end. The Charity is not dev61wng any now prop8rties.
3. Gearlng - assesses much of the adjusted assets are made up of debt the degree of
dependence on debt finance. The Chanty (tss not hav8 any108ns.
4. Eamlngs before Interes( tax, depreclatlon, amortlsatlon, major repalrs Induded - Interèst COV8r
measure is a key indlcator for Ilquldty arKI investmnt capacaty. It S88ks to measure the levd of surplus
that a registered provlder gen8rates Car￿ared to interest payatle" avoiding any distortlons arfsing f rom
depr8clatlon. The Cha￿Y does not hav8 any k￿ns.
5. H•adllne soclal houslng cost por unlt- assesses the hea(lline sojal houslng cost Per unit as defined
by the Regulator of Soci81 HousrKJ. The Ghan"ty's headlin8 costsperunit are lower than the ta￿et due to
antlclpat8d mfurt￿shMènÈ and major rnpalr vK¥ks mt bw'ng rnqUI￿ during the y68r.
6. Operatlng margln for soclal houslnglottlngs and ov•rnll - domon8trato8 lh8 profltablllty of
operatlng assets before excepb'onal expenses are taken into account. Increaslng marglns are on8 Wty lo
Improve the financwl effiaerry of a business. Operating margn fell du8 to t￿ incrnas8 In 8n8rgy costs
nning rnpa1￿ and mainl￿anCe durtng th8 yéar.
7. Retum on capllal employed-compares the O￿Tat*￿j sUrp￿S to tolal assèts lèss current Ilabllltlés and
is a common measure in the comnHcial sector to assess the efficienl investment of capltal resources.
The ROCE metrSc *￿Uld SUPFQrt reglstered providets with capital investment programmes. DecTrased
during y88r du8 to duè to Increasé In •n8W Costs Mnnlng rnp8its 8nd mantenance requred durtng the
year
11. Ralatsd partl
Two of theTrustees served duriTr3 theYear￿Ere also Tnjstees of The Lygon Almshouses. On all mattss
affeding the Charity's d8alings The Lygon Alm8hou8es, th8S8 two Trustees abstain from votir¥J
Trust8es' m88tlNJs on related paty matters
12. Golng concorn
The Trustees have reviewed the financial posi11￿ of the Charity arNJ considered its finanGk71 fowasts a)J
commitrrEnts forthe folk)Y4ing year and conduded that there are m matenal uncertainbes that ￿st dO￿*t on
th8 Charity's abillty to continue as a golro concem for the immgJiate future.
1& Corporats govwnance
The Tnjstees haverevith*d the Nation81 Housing Federalions (NHF)COd8ofC￿eManCe2oISatIl rx)mpty
with its provisions as appropriate to the relative size of the AlmshoLtse as a small non-devebpry
org8nisats'on.
Thè Tnjsteés are commltted to Integrity acc￿ntablIty in stewardship of the AIn￿hOuSe'S affai5 aTrJ
considerthat theTfUStees haVecomFliedthrougF￿tthe p￿70d underreviewwith Ihe provi&ons oflhe NFFS
Code of Govemance 2015 except as follows:
The Trustees do not consider it appropiate to appLNnt an audit commltee for a small organisation.
Goveming Docurnnt provides fortfuste85 to serve for terns of four years and does not require a maxirrun
lengthof service. The Goveming Oc￿mental50 pr0￿deSthat certain tntstees must beapp)inted in ex ￿ffic[l
capacity aTrJ for othersto be nowinated bythe COU￿11 of the LcKthn Borcwh of Hammersmi1h ar￿ FLknI.

ALMSHOUSE CHARrrY OF SIR WILLIAM POWELL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
14. Trustees
Th8 Trustees ￿ served during year ended 31 March 2024 vme as follows:.
Chaimian:
Deputy Chainnan:
Hon Treasurer.
Other Trnstees..
Rev.Penny Seabrook
Cllr Adronie Altord
Philip Hedges
Cllr Sharon Holder
Judith Graham
Laura ALKklarKJ
Paul Hall
Catherin8 Cull Thomas
Robert Rose
Cllr Lucy Richardson
Paul Alexandèr (resigned 181LW23)
Rev.Peter Kettle
Cllr Dwyl 8roknTr lappolnted 2010Y23)
15. Statom•nt of dlxlosurn of Inlomiallon to reportlng aceountsnt
We, the Trustees of the Almthouse vh) held offi￿ at the d8te of appmval of t1￿ Financial Staten￿rts. a9
sel out above, each confirm so far as ￿ are aware, Ihat..
there is rKs relevant examination info￿natI¢)n of which the Almshouse's feportlng accountsrrt i5
unaware,. and we have taken all the steps that we ought to have taken as TJust885 In order to rrthe
ourselves aware of any relevant examinatlon infomatb)n arwj to 8Stabllsh that th8 Almshow's
reportlro &countant Is aware of thal Infonr￿tk)n.
16. Trustsos, re8ponslblllllos
The Charttles Act 2011 and th8 Hottslng and Regeneratlon Act 21KJ8 requlre tho Board of Tnj$t￿ to
prepare flnancSal stalements for each f Inanclal yearvthlch glve a tnje arKI falr vlew of the state of affaks of
the Almsholtse and of its income and expenditure for that period.
In preparing these f inancial statements, ltr￿ Board is required to:
select suftable accounting policies then apply thern conslstentty.,
make ludgements and estlmales that are reasonable prudent,.
s18t8 whether applic8ble accounting Star￿ardS have been folk)b￿d. subject to any matèrid
departures disclosed and explained in the financid ststemenls,. and
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presLf
that th8 Almshouse continue in bUs1r￿sS.
The Board Is responsltAe for keepirKJ proper accounung recordsvthlch discbse with reasonabb accuwy
any tirne the f inancial position of the Almshouse enable it to ensure that the finanaal slat8m8nts ￿rrpty
th the Charities Act 2011. and the Housing and Regeneration Act 2(A)B. It has general responsibl￿ for
taking reasonable s*ps to safeguard the assels of the Alrrshwse aThJ to prevent and detec* fraud and ottv
irregularities.
17. Independent Accountant
A resoluiion to appoiit the reporting account￿ Verdant Accountants Ltd. has been approv￿ by t
Truslees.
18. Approval

ALMSHOUSE CHARrrY OF SIR WILLIAM POWELL
TRUSTEES, ANNUAL REPORT
FOR THE YEAR ENDED 31 MARCH 2024
This Report a￿1 the Accounts wpre approv￿ by the Tnkstees and signed on their behalf by..
[aLL
Chalrperson
Ii&k

INDEPENDEKf EXAMINER'S REPORT TO THE TRUSTEES OF
ALMSHOUSE CHARITY OF SIR WILUAM POWELL
FOR YEAR ENDED 31 MARCH 2024
I ￿port to the charity tNstees on my examinatK)n of the accounts of the Company for the year ended 3 1 M&rch 2024.
Re5P0155ibilities and basis of Yeport
As the chatily's irustecs ofthc Almshou5c ChaIity of Sir William Powell you are rcsponsiiTrie for the preparation of th
accounts in accordancc wiib the rcquirctnenls of the CompanKs Aci 2006 ('Ihc 20Q6 Acl,).
Having satisf￿d myself tha¢ Iheaccounis of the Almshouse Charily of Su Wdiwm Powell arenot Tequired to be audit￿1
underPart 16 of the 2006 Aci and eiwbk for indep¢nd¢nl examinaijoft, I report in respect of my ¢xaminution of your
chanty's accounts as canxd out under seei￿n 145 of the Chariries Aci 2011 {'tbe ?0 I l Act'l. In caryingi out my
examthalion I have folkTrwed the dirECiions given by the Charity ComMi￿￿)n under seclton 145(5Mb) of the 201 l A¢t.
Indepondent examiner's ststemeAt
I haire compkt¢d my ¢XaMiD8t￿n. I confrm ihai no matters have cometo my attentK)J) inconn¢cti)nwitb the examinai¥)n
'ing me Ca￿Se io beij'eve..
accountingrecords were not kept in ￿Spect of lh¢ Ahnshouse Charity of Sir William Powell asT¢quired by
section 386 of the 2006 Act: or
2. the accounts do not accord witb those recoTds- OT
3. the accountsdo not¢ompty wilh the a¢¢oun¢inbrcqullrmenls of S¢CiioD 396 of the ?006 Acl oiher ihan any
requityment tha t (he accounts we a 'true and fair Vic￿ whKh is noi a mailer LonsMJeRd as part of an
irndependenl examinalN)n' or
4. the accounts have not been pr¢pared in accordanc¢ with ihe meihods and princJple% of the Stalemen¢ of
RLcommended Prnclice for accounting and T¢POrting by chaTTiiEs lapplicable io charities p￿paring iheir
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)].
I have noconcems and hRve eomeacrossno othermatters in connection with the examination to which attention shouki
be drawn in this report in order lo enable a pn)perundersiandnig of the accounts to be re8ched.
Chaweevan Willlams FCCA
Chart6red Certtfied Accountant
Verdant Accountants Ltd
2IN22 Wenlock Road
London N17GU
1s. 07. 2025<
10

ALMSHOUSE CHARrrY OF SIR WILLtAM POWELL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
Unrestricted Restrlcted
Funds
Funds
2023
Total
Total
Income from:
Charitable activrties
Investments
88,726
25,479
88.726
25,479
83,184
29,678
Total Income
114,205
114.205
112,882
Expendlture on:
Charitabl8 activrties
Investrnent management
82,547
6,400
82,547
6,400
69,561
6,119
10
Total exp6ndlture
88.947
88.947
75,680
Net Income before investments gains
(losses)
Net gain l (losses) on movement of
investments
25,258
25,258
37,182
10
64,335
64,335
(54,737)
Net loss on investrnant sales
Net (expendlturo) I Income
10
7.983
81,610
7,983
81.610
{17.555)
N•t movemont In fund8
81,610
81,610
(17,555)
Reconclllatlon of fund8'.
Total funds brought forward
13
1,264,399
255,230
1,519,629
1,537,184
Total fund8 carrfed forward
13
1,346,009
255.230
1,601,239
1,519,629
All income and expenditure derive from continuing actsvitses.
The statement of financial activiti.es includes all gains and losses recognised during the year.
11

ALMSHOUSE CHARITY OF SIR WILUAM POWELL
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Noi•
Flxed a55ets
Tangible assets
Investment property
Investments
562,135
60,CKXI
933,922
574.202
60.000
810,094
10
1.556,057
1,444,296
Current assots
Debtors
Cash al bank and In harKI
11
2,813
3.806
80,787
58,180
84.592
Credltors: amounts falllng due wlthln ono year
12
12,999
9,260
Nét current assèts
45,181
75,333
Net assots
1,601,239
1,519,629
Rostrlcted and unre8trl¢ted fund•
Unreslrict8d f unds
Restrtcled funds
1,346.1))9
255.230
1,264,399
255,230
Total ¢harlty funds
13
1,601,239
1,519,629
The fina￿1￿ ststements approved and authorised for issue by the Board on
Signed on
ehalf of the board of Irl￿tee$
Slgnatur8'.
s￿nature..
Name:
LH Luurffrrf
Name:
T£¥kfJ@&TL4J gré
The noles on pages 13 to 20 fomi part of Ihese flroncial statements.
12

ALMSHOUSE CHARITY OF SIR WILUAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Legal Forn)
The Almshouse Charity of Sir Wlliam P0￿Ell is a registered charity in England with the Charity
Commission. The address of its register8d offic8 is The Lygon Almsho￿86$, 313421 Fulham Palace
Road, Fulham, London SW6 6TH. tts pl￿e of busin8ss is Sir Wlliam Po*EII Almshouse8. Church
Gate, Fulham. LorKJon, SW6 3LD.
PRINCIPAL Accou￿llNG POUCIES
Ba818 of accountlng
Th8 financial statements have b88n pr8P8red in ac¢ord8TKe with the Financial R8POrting Standard
applicable in the United Klngdom and Republic of Ireland {FRS 102), the Statement of Recommenda
Pr3Cticè applicable to chanties preparing th8ir accounts in accord8ncè wth the Financial RèportinJ
S18ndard applicable In the UK and Republic of IrelaThl (FRS 102) issued in Octob8r 2019 (SORP 2019),
the Charities Act 2011, the Accounting Direction f or private registered providers of social housing in
England 2019. the FknusirwJ arKI Regeneratlon Act 2(K18 and UK Generally Accepted Account
Practice.
The chaiity constrtutes a public benefit entity as defined by FRS 102. The financlal statements have
been prepaTrd under th8 historical cost convention on an accruals basis. The financial statéments are
presentgj in steflirKJ which is th8 f unctional currency of the charity and rDufKl&J to the nearest £.
Incomlng r•#our¢e8llncomo rec4>gnlllon
All incoming resources are included in th8 Statement of Financial Activitios {SoFA) vthen the charity
legally entitled to the income after any pwfomiarKe conditions have been met, th8 amount can be
measured reliably and it is probable that the I￿orne will be received.
Outgolng rn8our¢o8 (￿pendI￿re>
Liabllities are reCogr￿sed as resources expended as soon as there is a leg81 or constructive obligalK)n
committing the charity to the expenditure. All expenditure is accounted foron an accnffjls basis and
has been classif led under th8 headings that aggregate all costs r81ated to the category.
Costs of charitable activities irtlude all costs relating to the malntenance of ts housing propertl88 a5
well as the support arKI welfar8 of th8 residents.
Other expenditur8 includes the cost of gobyna￿e 8Th8ngemwts vthich relat8 to general running of
the charity. Support costs are those that assist vK)Tk of charity bul do not directly represent
charilable activities and include offic8 costs. govèmance costs. aThJ administrative costs.
Tanglble flxed assets
Targible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and
accumulated impairment losses. Cost includes costs dI[￿llY attributable to making the asset capable
of operating as Intended.
Depreclation Is provlded on all ￿￿Ible fixed assets, at rat88 calculated to TrAffite off th8 Cost, less
estimated residual value, of each asset on a systematic basis over its expect&J usef ul lif e as f ollows:
Kitchens
Bathrooms
Plumbing
El8ctrics
20 year5
30 yea
30 years
40 yea
80ileTS
Equipment
Structure (shell) Incl￿11[Vj stone¥w)rk
15 years
S year5
11JO years
kKlefinite
13

ALMSHOUSE CHARITY OF SIR WILLIAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PRINCIPAL AccouNnNG POUCIES (continued)
Amounts re¢￿Vable (or paid in ￿VanCe) at the erKJ of the period are I￿luded in the accounts under
debtors. These include invoiced seNices and prepaid expenditure.
Llabllltlas
Amounts payable at the end of the period are included in th8 accounts uThJer amounts payable wthin
or after one year as appropriate. This includes afflounts due to suppliers and accnJ8d èxpènditurè Idue
but not invoiced and incom8 r8ceiv8d in adva￿0).
Investments
Inv83tmentS arn r8cognls8d Initi811y at fair v8lu8 ￿1c￿ is normally the transaction price excludlro
transaction costs. Subsequently, they are measured at fair value Viith changes ￿Ognised in 'net gairB
I (losses) on investments, in the SOFA rf the 5har8s are pthlicly or their fair value can oth8NAsg
b8 measured r811ably. CXh8r inv8slments ar8 m88sur8d at ¢08t less impaimient.
Investment Property
The Almshouse th8 free￿Id and reversionwy Interest of Hurflngham Manslons, New Kings Road.
SW6 4PA, ￿1¢h comprises 23 flats and commercial property sold on long leases. This interest
Valuèd on basbs of the currént open m*k8t Value discounted by the pefiod of the unexpired18ases.
Improvemonts to propertles
The Charity capitalises expenditure on ￿u$ll¥J properties which adds to the value of the property or
extends its useful lrfe. knprov8m8nts to property thal relate to assets that hav8 a s6paRtely id6ntifiab
life to the property co￿eMed are also capitalis￿1 bLrt urKler a Gategory separate from the property.
Provl•lon•
Provlslons are recogrlsed ￿ the Charfty has an obligatlon at the balance sheat date as a result of a
pasl event, It is probable that an ouiflow of ecormimlc benef Its ￿11 be required in sett5ement and the
amount Can b8 rellably 88tlm8t8d.
Golng concern
The financial statements have been preparwj on a going corKem basis as the tn￿te8$ believe that ro
material uncértainties exist. The trustees have consldered the18vel of funds held and the expected level
of income and experKllture for 12 months from authorising these financlal statem8nts. The budgèt8Y
income and expendilure is suff icient with the level of reserves for the Charily lo be able to continue
a goiro eoncem.
Judgements and kny ￿Ur¢0$ of fjsllmalon uncertalnty
The preparation of the f in8nci81 statements requiT8S management to make judgements, estimates and
assumptions that affect the amounts reported forassets and liabililies as at balance sheet date and
th8 amounts r8POrt8d for rnvenu88 and expenses during the year.
14

ALMSHOUSE CHARITY OF SIR MLUAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PRINCIPAL AccouKnNG POUCIES (conrfnuedj
However, the nature of estimation means that act￿ outcomes could differ from tIKJse èstimates. The
followrtg jLKlgements (apart from thos8 involvlng èstimates) have had an effect on amounts Tecognis8J
in the f inancial staternents:
Tangible f ixed assets are depreciateAI over t1￿1r Usef￿ lives taking into account residual values, wh6r8
appropriate. The actual lives of the assets and residuat values are assess￿1 annually and may vary
depending on a number of f actors. In r8-ass8ssing asset lives, factors such as technological innovation,
product Ilfe cycles arKI maintenance progrdmmes are taken into account. Residual valuè assessments
Consider issues such as futur8 rna￿et conditions. the remainiry lrfe of th8 asset and pK)jected disposa
values.
Rosarve8
Deslgnated reserves are part of unrestricted reserves **lch have been eamiarked by th8 Trustees for
a parti¢ular purpose. Such d8signations may be r8vetsed by future Trustee decisions. Expenditure
cannot b8 directly set against designated reseprfes but is taken through the income and expenditure
account. A trnnsfer is I￿n maje fffjm designat￿ reserves as appropriate.
The AIMS￿)USe designates those reserves set aside for future major repalrs on all of Its houslrg
properties. The amounts set asid8 are based on a stock condition suNey of th8 Almshouse's housiro
properties and represents the expervjiture thal cannot be met from the Almshouse's futur8 rèntal Income
stream. The designated reseNe Is the amount that the Trustees estimate Is requlred for future major
repairs.
Restrfcted reserves represent the social housir¥J grant. If ttr￿ Almshouse's FK)using prop8rtles were
be sold this I￿Uld b8 repayable.
Rovaluatlon roserv
Revaluation res8N8s represents the revaluatlon value of the investment property and the dlffer8r(*
between the market value and cost of th8 current asset investments.
Taxatlon
The Charity ha8 chaiitable status HM Revenue and Customs arnl Is exempt from UK tsx on Its
primary purpose trading income ￿K1 investment incom8.
Flnanclal Instruments
Financial instwmenls such as loans. accounts Payables. accounts receivables cash are Classrf￿1
either as basic or complex. All f inancial instruments are initially measured at their fairvalues at the tlm8
the transactions occur. Subsequently all basic instruments are measured at amortised cost and all
complex financial Instruments arè m8asur8d at a fair value through the compr8h8nsive Ir￿Orne.
Flnanci81 instruments held by the Charity are classrfied as follov•S:
•Cash is hdd at cost,
.Fixed asset investments ar8 held at falr value
.Other financial assets such as current asset inVestm￿ts arxl receivab18s dassrfied as loans and
receivables and held at amortised cost using the ef fective interest method.
•Fina￿la1 liabilities such as bonds and loarts are held at amortis&J Cost usifvJ the eff ective interest
method.
15

ALMSHOUSE CHARITY OF SIR MLLIAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Incomo from charltable actlvltles
2023
ChaffJ8S to residents net of VOKIS
88,726
83,184
88,726
83.184
Loss of income due to void periods
620
Income from Inva8tsnonl8
2024
2023
Dlvldend Income
Ground rent
23.871
28,253
1,425
Analy81s of r8sourea8 •xpondod
Oth•r Dlroct
Support
Tolal
2024
Other Direct
Support
Costs and
Total
2023
Managemènt fee
Govemance Costs
Insurance
Professional f 888
22,131
(340>
4,049
22.131
{340)
4,049
16,309
2,962
3,634
(1,246)
Llil
Legal expenses
Bank charges
DepTrciation
Gas
Lighting
Water
Telephon8
Gardening
Equipment Rent and maintenance
Routine maintenance
Welfar8 and Off ica costs
Major repai
2.779
162
12,540
4.473
2,157
1.065
386
4,420
1,643
5,325
2,576
10,377
130
12,C67
8,743
4,561
1.187
610
130
12.067
8.743
4,561
1.187
610
4,783
2,677
3,254
4,783
2,677
3.254
69,561
16

ALMSHOUSE CHARITY OF SIR MLLIAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Reporting Accountants, Fee (includirwJ VAT)
Overprovision in 2023
3,066
13401
3,086
The reporting accountants, remuneratlon pn)vislon (excludiry VAT) for an indep8nd8nt ex8miner
report 15 £960 inc VAT. 2023 fee provision £3,C66 was credited in 2024 followng a £1.300 fee rabate.
In common wth many other organisations of our size nature use our accountants to assist with
the preparation of the f Inanclal statements.
Trustso rnmunoratlon and oxpon8
The twslèes neither received nor Wdived any remuneration duriry the year (2023 £Nil). No expenses
reimburs8d or paid for by th8 ch&ity to trust885 (2023: £Nil).
In¢om• l oxpondlture for tho year ondlng 31 March 2024
Nel income l expendiiuffj Is stated after ctwglng l (creditiTrJ):
2024
2023
Dep￿latIon of tanglbl8 flx&l assets
11067
12,540
T•nglble fixod a880ts
Alm8house
Almshou
Property Components
Equlpment
Total
Cost
At 1 April 2023
Additior
Disposals
At 31 March 2024
28,201
837.203
28,201
837.203
Depreciation..
At 1 April 2023
Charg8 for th8 year
Disposal
At 31 March 2024
235,988
10.879
27,012
1,188
263.000
12.067
246.867
28,201
275,067
Net book value:
At 31 March 2024
At 31 March 2023
4953
557.182
568,C61
562,135
574,202
1.188
The net book value of land and buildiros comprise of freehold ptopty.
Investment proporties
17

ALMSHOUSE CHARITY OF SIR WILLIAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Free￿Id property
60,000
No records are available of the cost of theinvestment propety. In thè opinlonof the Trustees the martet
value of the freehold revetsion of the investment properties is £60.o¢X). The f reehold is subject to lo
leases on 23 flats arNJ commercial prOp￿ty aThl th8 reVe￿lOnary interest for leases in this area of
London, togetherwith ground rent is estimat&J to be rM)t18ss than £60,1))O. This valuation is bas8d on
infomial advice from a chartered suNeyor.
10
Invesknènts
Totsl Funds
As at 1 April 2022
R8valuatlor
Additions
Disposals
As at l Aprll 2023
Revaluallons
Additions
Disposals
Cash addilions
A8 at 31 March 2024
842,697
154,737)
22,134
810.094
56,352
17,471
50.005
933 922
The historical cost of lisled investments held as at 31 March 2024 is £875,388 {2023.' £792,135). The
management fee incurred for th8 investments is £6,400 (2023.. £6.119). This is pr8S8nt8d In the
Statament of Financial Activities. beirKJ f und raising expenditure.
11 Debtorn
2024
2023
Residents. arrears
Prepayments and accrugj income
1,476
2,329
3,806
2,131
12 Creditors: amounts falling due wlthin one year
2024
2023
18

ALIASHOUSE CHARITY OF SIR ￿LLIAm POWELL
NOTES TO THE FINANCIAL STATEMEpirs
FOR THE YEAR ENDED 31 MARCH 2024
Creditor5
Accruals
4,779
8,219
2,678
6,582
13 Re8orve funds r•con¢lllallon
Balanca at 31 Incom• EXpendI￿re
March 2023
Galn81 Transfor•
(losses)
Balance at
31 March
2024
Revenue r8seNe
Revaluation r8serve
Designated reseNe
Unrestricted FurKJs
R8Stri¢ted reserve
379,594
193.701
691.104
1,264,399
255.230
114.205
(88,946)
56.352 (58,534)
402,871
252,235
691.104
1.346,009
255,230
114,205
(88.946)
Total
1601239
Infomation on individual r858IV8 balances pt¥PO888 held is incI￿￿ed in r￿te 1.
14 Analy•l• tsf net a$￿ts bet*wn funds
fund•
nd8
Tolal
Flxed assets
Current assets
Current liabillties
1.31J),827
58.180
{12,998)
255.230
1,556,057
58.180
(12,998)
Total
255,230
1601239
15 Ralated party tran&*tlon8
The Lygon Almshouses is a Telatgj paty as manage th8 Almshouse Charity of Slrwilliam Powell
and have trustees in common. There Nvere tbK) T￿￿teeS in common betwèen the two chariti8s during
the year, Cllr Ad roni8 Alford, Reverend P Seabrook. DuriThJ th8 y8ar Lygon Almshouses has provid&J
management services to Almshous8 Chadty of Sir William Po￿￿11 for￿ICh it Charg￿ a fee of £26,625
{2022: £16,309) plus 8xpenses of £nil (2021: £nil).
16 Financial instruments
19

ALMSHOUSE CHARITY OF SIR VblLLIAM POWELL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The carylng amounls of the charity's financial IrtstrUm￿rtS are as follo￿..
2024
2023
Financial assets
Measured at fair value through wt income l experKlitW8:
- Fixed asset listed investments (note 101
933,922
810,094
17 Prfor year Statement of Flnanclal Actlvllles
2023
Unre8tr1cte Re8tr1cts
d Fund$ d Funds
Totsl
In¢omo from:
Charitable activities
Inv8Stm8nts
Total Income
83,184
29,678
112,862
83,184
29.678
112,682
Expandlturn on:
Chadtable activlties
Investm8nt Managem8nl
69,561
6.119
69,561
6,119
Total expéndltur•
75,680
Net Income before investments galns
arKI losses
37.182
37,182
Net galn l (losses) on movement of
investments
(54,737)
154,7371
Net Ineoma l (expendlture)
{17,5551
{17,555)
Reconclllatlon of fund8:
Tolai funds brought forward
1.281.954
255.230 1,537,184
Total funds carrlod forward
1.264,399
25&230 1,519,629