Charity R¢gistrdtion Number: 248397
The Spencer Homes Charity
Annual Rq)ort and Financial Ststements
for the Year Ended 28 Decemba. 2022

The Spencer Homes Charity
Contents
Reference Bnd Administrative Details
TTUStees' Report
2to3
Endependcnt Examillei's Report
Siatement of Financial Activities
Balance Sheet
Notes to the Finau¢ial Statements
7t014

The Spencer Homes Ch8rlty
Reference #nd Administratlve Det211s
Chgrlty R¢gLqtration Number
248397
Almsho￿le Assoclatlon Member
Number
1022
Trnstees
Mr G Carr (Chair)
MTS J Y Smith
RevGLHall
Mrs H R Marshall
Mr D A Brown
Mr K Narey
Dr S Ha￿lSo￿l
Secretary
Mr S BrowR)
Prlnelpal Offie¢
Fold Howe. 6 The Fold
Loiher5dale
Keighley
West Yorkshire
BD20 8HD
Battkers
Yorkshire Bank Pl
14 Broadway
Bradford
West Yorkshi
BDI IEZ
Independen¢ Ex•mlner
Selina J Armitage FCA
Watson Buckle Limited
Independent Examiner
York House
Cottingley Busin¢ss Park
Bradford
BD16 IPE
Page I

The Spencer Homes Charlty
Trustees, Report
The Trustees pr¢sent the annual rE￿rt together with the financial Statements tsf th¢ charity for ihc year ended 28 December
2022.
Str￿¢tur¢I gOVer￿nCe tnAnagement
The Chaiiiy 15 lh¢ 0￿￿tr of six houses and one flat at Rose-in-the Dale, Loth¢rsdale. When Ihere is a vacancy the TrustEeS
try to fjnd a r¢sid¢nt of Loihersdale suitable for appointm¢ni as ats almsperson, but b¢¢au5e of the lack of ti"anspori and
shopping facilitics in Ihc village, Iliere are diffieulti¢s in fittdillg suitable applicants. Consequently> ill the ab$¢nLe of a
suitabl¢ applicant, the Trustee5 make the properties availabl¢ for letting to the gcner81 public and priority is given to
someone in reduced circumstances or living in sub-standard accomjnodation ur who has some conn¢¢lion to Loihersdal¢.
All new T￿￿te¢S are given an introduction to ihe work of the Trust by the existing Twstees and are also provided wtth
Charity Commi$5ion publication CC3 'The Essenti&l Trustee. what you need to know, and CCI O 'The H4llmarks of an
Effective Charity,.
Th¢ TNstees of the Cliarity hold meetiiig5 every three moiiths unle85 ther¢ are special circumstances that Tequire additiongl
meetin8s. There hav¢ been no ¢hanges to the Trustees this year. Maintaining the number of TTUStees at seven is of greal
benefit and enables ihe Trustee5 lo continue the responsibilities of property management and acting a5 responsible Social
Landloi'd.
In setting and revirwing our ain￿ the TTllSt¢¢8 have giY¢n earcfi]I consideration lo the Charity Commission's guid4nce on
public benefit.
Objectives and 8c¢lvltles
The Tntsiees review th¢ rents annu&lly sn March after Consideration of th¢ Budget of ineome Hnd expenditure. This year the
Tnjstees d¢cided to make no incr¢ase io the renls, th¢y Consider the cu￿¢nt maintenance ¢harge 18 ochieving value for
mortcy.
The TTUStees hbv¢ continued to maintain the properti¢s to a high standard of repair and seek to make improvements either
when properties beeorne vacant or when needs are identified, The Five Yearly Qiiinquennial Inspection to identify and
inwlement planned Jnaintenance and improvements was Ca￿led out in Septemb¢r 2019.
Th¢ Ttust propcttie5 liav¢ a private water supply and en.%uring that both the quality quantity of the water is maintsined
is a constant concem. Water quality testing has b¢en maintained and any remedial works identifjed dealt with.
Houslng Property AssotS
Details of changes to the ¢haritie$ assets are shown irt note 10 and I l.
Ptsst Balance Sheet Events
We consider that there have b¢en no events since the year ¢nd that have had a significant effect on the trusts financi41
pDsition.
Going Con¢erll
After makiiig enquirie5, th¢ Trustees have a reasonable expectation that the charity hag &dequ8te reSou￿e5 to continue in
operational existence for the foreseeabl¢ future. being a period of ttvelvc monilis after the date Oll which the r¢poTt and
financial stAiern¢nts are si8ncd. For this reasoE], it coniirtu¢$ to adopt ihc going corteern basis in the financial statements.
PAge 2

The Spencer Homes Charity
Trnstees, Report
Reserves pollcy
The Trust¢es have reviewed the Ch)rit￿8 needs fw the re5erve5 in line with the 8uidaDce issued by the Charity Commi8SLon
and consider it prudent that reserv¢s should be sufficiettt to avoid the necessity to realise fixed Assets. The Trustees are
confid¢nt that futrJr¢ iwome will cnable the Clwity lo meet its fore5¢￿bI¢ needs on the basis of planned ¢xpenditur¢.
Total Gharity fimd5 &t 28 December 2022 were £382,627 12021 £398,560). The amount of reserves after making
allowances for restri¢ted fiumls and not tied irt tangible fixed assets or piogramme related investments omow?ted to
£37,80712021- £72,617).
Rlsk man4gewmt
The Tn￿le¢S 8Lve consideration to the major risks to which the Charity is ¢xpos¢d and system5 whicb are desigN¢d to
mitigate those risks on an ongoit)g basis.
Independent examlller
The re •ppointsnent of Watson Buckle Limited was a8r¢ed by the Truste¢5.
Publlc beDefit
The TrUS￿eS confirm that they have compli¢d with the requir¢m¢nts of section 17 of the Charities Act 2011 io have due
regard to the public benefit guidance published by th¢ Charity Con]mission for Engla1￿ and Wales.
Value for money
The Tn￿te¢S ar¢ mxtidful of th¢ n¢¢d to obtain value for money in all transactions entered into on behalf of the ¢h4rity when
major works are und¢rtaken a competitive tender is carried out. The ¢hJrity re8ularly reviews its investsiiejits perfonnance
to ¢nsur¢ they still achi¢v¢ a 8ood ratt of return.
The a[￿Ual report approv¢d by the TNstees of th¢ charity on 19 June 2023 aDd si8ned on its behalf by..
Mr G Carr jchair)
Tn￿t¢e
Page J

The Speneer Homes Charity
Independent Examlner's Report to the trustees of The Spencer Homes Charlty
I reptsrt to the ¢harity Irt]sle¢s on my examinAtion of th¢ accounts of the charity for the year endeiE 28 December 2022 which
are set out on pages 5 10 14.
Re$pectlve Yespon$lbllltles Of tru5tee$ and examlner
As the charity's tr￿$tec5 of The Spen¢er Ilonies Charity you are responsible for the PTeparation of ihe ac¢ount5
accordance with the requireinent5 of the Charities Act 2011 {'the Aet.).
I report in respe¢t of my examination of The Spcncer Homes Charity'5 ac¢ounls ca￿led out und¢r 8e¢tion 145 of th¢ 2011
Aci and in carrying oui my exarnination I have followcd all the applicable Dfftrcclions given by the Charity Commission
und¢r section 145{51(b) of the Act.
IndepeTrdent exan￿￿er,9 statement
I have completed my examinatton. I confimi that no material matr¢rs hAYe wme to my attention in connection with the
exaininalion givins me cause to believe that in atty material i'e5pect.'
accountiDg r¢¢ords were t]ot kept in respect of The Sp¢n¢er Hornes Charity #s iequired by section 130 of the Act; or
2. the accounls do not accord with those records. or
3. the accounts do not comply with the accountin8 r¢qutrtm¢nts concerning the fomi and content of accounts sel out in
the Chartti¢s {Accounts and Reporr$) Reglilalions 2008 other than any requirement that the a¢¢ount5 give a 'true and
fair view, which is not a m2tt¢r cottsidered as part of an independent exymin&iion.
I have Do concerns and have come a¢r05S lio other matters in conne¢tion with the examination to which attention Should be
drawn in this report in order to enable a proper unde¥sl8nding of the accounts to be reo¢hed.
Selitta J Armitage FCA
Independent Examiner
Watson BucWe Limited
Bradfoiyl
19 June 2023
P8ge 4

The Spencer Homes Charity
StAtement of Flnanejal Actlvlties for the Year Ended 28 December 2022
(lllcluding Ineome and Expendllure Account)
Endowment
funds
UThrestrl¢ted fwidj
Revaluatlon
r¢8erve
Total
2022
Total
2021
Ceneral
P¢rmaMent
Note
endowments fro
Irtvestments
Charitable activities
Oiher it)come
5,035
31,874
129
5.035
31,874
129
5.694
31.004
19,062
Total Incom¢ l￿d endDwm¢ntg
37.038
37.038
55,760
EJpenditure
Charitable activities
(27,017)
(27,017)
[0.021
(25,954)
15,933
116,481)
Net incom¢
Gain&qosses OD investment ass¢ts
10,021
(10,880)
39.279
(15.207)
24,072
15
(15,074)
15,074
Net movement ID Ilmd8
859
Re¢oD¢ili&lloTh of fuDds
Total funds brought forward
Totsl fimd8 ¢4￿led fotword
372,332
15.074
11,154
398.560
374,488
371.473
11,154
382,627
398,560
The fund8 breakdown for thE current and prior year is shown An note 15.
Page 5

The Spencer Homes Charlty
{R¢gistratlon number: 248397)
Balaiice Sheet as at 28 December 2022
21122
2021
Note
Flxed #ssets
Tangible as$et5
Investments
10
132,669
191.505
129,536
87,978
324,174
217,514
Cui'rent 96sets
Debtors
Cash at bank and in hand
12
1,085
66,860
88,607
102,007
67,945
190,614
Credltors: Amount$ fglllng due iylthln one year
Net current *s$ets
13
(4,146)
{4,095)
63,799
186,519
Total asseli leBs current Ilthbilittes
387,973
404,033
Creditors: Amomnts fAUltsg due a(ler more th8n one ye4r
N¢t as#ets
14
5.3461
5,473)
382,627
398,560
Funds tsf the charlty:
Reserves
Unre5tricled funds
Unreslrieted revaluation reserve
Endowmeni funds
371,473
372,332
15,074
11,154
Total Reserves
382,627
J98,560
The financial staiemenis on pages 5 to 14 were approved by the tNstees, aTMI authori5ed for i5su¢ on 19 J￿ne 2023 And
signed on their behalf by..
Mr G Carr (Choir)
Trustee
Mrs H R Marshall
Truste¢
Page 6

The Spellcer Homes Charlty
Notes to the Fln*nclal Statements for the Year Ended 28 December 2022
l General InlonD8tIo#
General lttformatlon
The enlity is an urtincorporated registered charity governed by their constithtion, registercd in England and Wales.
The addr¢&s of the rewstered office is..
Fold House, 6 The Fold
Lothersdale
Keighley
West Yorkshire
BD20 8HD
Charity registralion ￿rnber.. 248397
2 A¢¢oun¢lttg polleles
S¢alem¢nt of eompllauce
The financial statem¢nts have been pr¢pared in accordance with Accountin8 alld Reporling by Charities: Staten)ertt of
Re¢omm¢nded Practice (SORP) applicable to charities preparing their accounts in accordance with the Finartcial Reportin8
Standard applicwbl¢ in the UK and Republie of Ireland (FRS 102) (effe¢tive l January 201 S)- (Charities SORP (FRS 102)X
the Fin8n¢ial Rq)orting StatKlard appli¢obl¢ in the UK and Republic of Ireland (FRS 102) and the Charitics Act 2011.
B8515 of preparatlon
These financial slat¢ments have been prepared using the historical Cost ￿nventIOn ¢￿¢pt that as disclosed in the
ac¢ountin8 policies certain it¢ms are showil 81 fair value.
The ¢harity constikntey & public benefit ¢ntity as d¢fin¢d by FRSIO2.
The ¢twiWs fimctional and pr¢s¢ntalion cuDrn¢y is pound sterlin8.
Income ertdowmeDts
Governm¢fvigroNIs
Govcmment grAnts from The Housing Corporation are received in respect of the Sp¢n¢er Homes Ch8rity. These grants are
rE¢ogllised at the fair valuc of the ass¢t received. Where ihe a55¢ts are ac¢ount¢d for using the cosi model then Ihe
goverJlln¢nt grallt 15 ac¢ouL)t¢d for u5in¥ the a¢cn]als model. The diff¢rellce beiween the fair value of the asset aDd the
COIh5ideralion is r¢cogni5ed as a liability and amortiseil ov¢r the useful econowic Itfe of the asset. This amortisation is
081]ised within income.
Chailioble oclivilies
Weekly maintenance charges from I￿￿￿1￿8 properties 18 r¢cogni8ed on an accrujis basi8.
P88e 7

The Sptneer Homes Charity
Notes to the Flnanciydl Statements for the Year Ended 28 December 2022
Def¢rredliicem
Dcferred incorne r¢present5 omounts t¢ceived for ftlture periods and 1% releosed to incoming resources in th¢ period for
which, it has been received. Such income is only deferred when..
. The donor specifie5 that thc grant or donation must only be used in future accounting peTiods,' or
T1￿ donor has imp05ed condition5 which must be met before the ¢harity has un¢onditional entitlement.
Iiiveslliie￿1 iiicoiNe
Income is earned from holditjg fixed assets for investment PUtPOS¢5 and is recognised when weivable and th¢ amount can
be measur¢d reliably by the charity.
Interest on fiind8 lj¢ld OD deposlt is included when Te¢¢ivable and th¢ amount can b¢ measured reliably by the charity.
Expell￿t￿re
All expenditure is recognised once there is a legal or constrnctivc obligation to that expendikire, it is probable settlemenr is
required and the amoiint cgn be measured reliably. All t(￿t$ are allocated to the applicable expenditsire headtng tliat
a8girgale similar COSIS to that category. Where ¢osts cannot be direcily attributed to particular headihg8 th¢y have be¢n
allocated oil a basis consistent with the use of resource4 with cential statT costs alloeaied on the basis of time spent, and
d￿reCiatiOn charges allocated on the portiots of the assct's use. Other 5UPPOrt co&ls are allocated based on the spread of
siaff costs.
Charlifjble aeilvirfes
Charitable expendi￿re cotnprises ihose ￿sts incU￿¢d by th¢ chbrity ID the delivery of ils activities and services for its
beneficiaries. It includes both costs Ihat Lan b¢ allocated directly to such activfftties ar￿ those c05t5 of an indircct nature
neee55ary 10 siipport them.
Covernanee costs
Thesc itjclude tlie ¢OSi¥ attributable to the charity's complidnce wilh c0115titutlODal a[￿ statutory requirements, includin¥
audit, strategi¢ maTJag¢ment al￿ trustees. mee¢ings at￿ reimbursed expenses.
T4XAtIo
The charity is coE]$idered to pass the tcsts set out Para￿ap￿ I Schedule 6 of the Financ¢ Act 2010 and tt*r¢fore it meets
the definition of a Gharitable ¢otY4)any foT UK cutporation tax purpose5. Accordingly, the charity is poteDlially exempt from
laxatlOD ill respect of inLome or capithl gains recciv¢d wiiliiii cai¢gori¢s Cvvcred by Chapt¢r 3 Part I l Df the Cotporation
Tax Act 2010 or S¢ction 256 of the Taxalion of Char8eable Gains Act 1992, to th¢ extent ihat such iiJCOED¢ or gains ar¢
applied exclusiv¢ly to ¢harithble purposcs.
Tangible t]xed 459etg
Individual fixed 8ssets costing £100.00 or more are iniiiBlly reeorded at cosL
Page 8

The Spencer Homes Charity
Notes to the Financial Statements for the Year Ended 28 December 2022
Dtpreelatlon And Amortishtion
Depreciation ts provided on tangible fixed ass¢ts so a5 to write off ihe cost or valuation. 1¢5$ any estimated residual value,
over their expe￿ed useful economic life as follows..
Asset clH55
Original structur¢
Roofs
Doors and windows
Boilers
Baihroom
Kitchens
Ele¢tTical and heating installations
DepreciatKoN method and 1'8te
50 years
50 years
30 years
15year
25 years
20 yeaTS
25 years
Major components of housing properties have been accounted for and depreciated separately from the connected housing
property. oveT th¢ir expect¢d useful economic lives. Th¢ Cost of replacing these ¢omponents is capitalssed in ful. Th¢ Cost of
partially replacin8 or repairing these ¢omponents are charged to ¢he charitable activities.
Significant Judgements e51imAtss
Preparation of the financial Statements requires management to mak¢ signiftcant judgements and estima¢es. The items in the
financial statements where these judgments and estimates have been made include..
DepiEci(71io
Management reviews ils esiimate of the useful live5 of depr¢¢iable assets at each reporting date based on the expected
utility of the assets. however, by their naturt, romponent life cannot be determin¢d with ab501ute certainty.
Fixed 85set iTEVeStment$
Fixed asset investments, other than programme related investineiits. are included at market value at the balance sheet date.
Realised gains and losses on investments are calculated as the difference between sales proceed5 alld their market value at
the Start of the year, or their 5ubsequeni cost, and aiE chaoed or ¢rediled to the Staternent of Financial Activitie5 in the
peTiod of disposal.
Unr¢alised gain5 and losses represent the moverRellt in market value5 during the year and are crcdited or charged to the
Ststement of Fiiiancial Activiti¢5 based on the market value at the year ¢nd.
Debtoi%
Debtors are recognised initially when they become du¢ at the traiisaction price. They are %ubsequ¢ntly measured at
amoitised ¢ost using the effective interest rate method. less provision for iinpairment. A provision for impairment of debtors
is establsshed wh¢n Iliere is objective evidence thal the charity will not be able to collect all amounts due according to the
original teTms of th¢ debiors.
Creditors
Creditors are obligalions to pay for goods and service5 Ihat have been acquired by the charity. CreditOTS are initially
recogni5ed at the ti'ansaclioii price and Subsequently nieasured at amortised ¢osl using the effective inierest method.
Page 9

The Spenc¢r Homes Chgrity
Notes to the FinanciAI Statements for the Year Ended 28 December 2022
Cgsh cash equivAlent$
Cash and Cash equivalents comprise cash on hand and call dq)osit5. and oihei short-tertn Iiighly liquid investments that ar¢
readily convertible to a known amount of cash and are subject to an insignificant risk of chong¢ in value.
FinHnciAI in$tument$
The charity only lias financial assels and financial liabiliti¢s of a kind that qualify as basic financial instruments. Basic
finan¢ial inth'uments are initially recognised at transaction value and subsequently measured at their seulement value.
3 Incom¢ from InvestmtThts
Urti'estricted
'rolal
2022
Total
2021
GenerAI
Interest receivable and Similar income.
Interest receivable on bank deposits
Other income from rtxed asset iE)vestments
554
4.481
554
4.481
5,687
5,035
5.035
5.694
4 lThcom¢ from Charltable Retivilies
Unrestrleted
Total
2022
Total
2021
G¢nor41
Weekly matntenance charges
Voids
32,624
(750)
32.624
(7501
32,139
31.874
31,874
31,004
S Other income
Utsrestricted
'rotal
2022
Total
2021
CJ¢nei'al
Amortisation of grants
Gai115 on sale of program related assets for ¢harity's own use
Other income
127
127
127
17,613
1.322
129
129
19,062
Page 10

The Spencer Homes Charity
Notes to the Vinancial Statements for the Year Ended 28 December 2022
6 Expenditure OD Choritable Activitie5
Unrestricted
funds
'rotfil
2022
Total
2021
Genei*l
Rates
Light, heat and power
Insurance
Repairs and Tenewals
Printing, postage and stationery
Trade subscriptions
Sundry expenses
Management char8e5 payable
liidependent exarniner's fee
Legal and prof¢ssional ft¢s
Depreciation of fTeehold property
Depre¢iation of fix¢ures and fJttin8S
1,367
855
1,367
855
1.577
1,001
1,389
5.210
27
197
1,419
14.557
1,419
14.557
415
250
1200
,260
836
4.858
415
250
1.200
1,260
836
4,858
600
1,080
836
4,564
27,017
27,017
16.481
7 Analysis of govei'nanee and support etssts
Governance costs
UDrestricted
Total
2022
TotAI
2021
Genei'al
Independent examiher's fte
1,260
1,260
1,080
8 Trllstee5 remuneration #nd expert$es
No trustees h&ve received any r¢muneTation or reimbursed expenses from fhe eharity during the current or previous year.
9 Key m8n9gem¢nt pei'sonnel
The charity coiisiders its key tnanagemEnt peT50nnel ¢omprise the trustees.
The total key management personncl remuneration b¢nefJts were £Nil {2021- £Nil).
Page 11

The Spencer Homes Charity
Notes to the Financial Slatements for the Year Ended 28 December 2022
10 Tanglble nxed assets
Housing
propertit$ for
letting
Property
improvement5
Total
Cost
At 29 December 2021
Additioiis
41.817
148.702
8.827
190.519
8.827
At 28 December 2022
41,817
157.529
199,346
Depr¢cÉatio
At 29 December 2021
Chai'ge for the year
5,016
836
55,967
4.858
60,983
5,694
At 28 De¢emb¢r 2022
5.852
60.825
66,677
Net book value
At 28 December 2022
35,965
96,704
132,669
At 28 De¢emb¢r 2021
36,801
92,735
129,536
l Fixed a5sel i￿VeStments
20211
2021
Listed investments
191,505
87,978
Othei. investment5
Listed
Investments
Total
Cost or VAluation
Al 29 D¢c¢mber 2021
Revaluation
Additions
87,978
(25,954)
129.481
87,978
(25,9541
129,481
At 28 De¢¢mber 2022
191.505
191,505
Net book value
At 28 D￿ernber 2022
191,505
191,505
Al 28 December 2021
87,978
87,978
The fair value of listed investments is d¢iermined by refer¢n¢e to the quoied PTiCe for adentical assets in an active market at
tlie balance sheet date. 14Éslorical costs of illvestments are £202,385 (2021 £72,904).
PAge 12

The Spencer Homes Charity
Notes to the FID8n¢l21 Statements for the Year Ended 28 December 2022
12 Debtors
2022
2021
Prepayments
A¢¢rned incomo
1,085
1,027
87,580
88,607
1,085
IJ Credltor8.' amounts falllng due wl¢bln Trne year
2022
2021
Other creditors
Accruals
Grant8
.763
2,256
127
1.763
2,205
127
4.146
4,095
14 Creditor8: amount6 falllTrg due after one year
2022
202]
Grants
5.346
5,473
H¢)using Associ￿￿0￿ Grattts totalling £5,473 have been received, this will be repaid if the properties are sold. The Housing
Association Granis are being recognised in incom¢ on a systernathc basis over the expected usethl life of the structr (50
yebrs).
IS Fund8
BAI&DC¢ at 29
December
2021
Other
Tecognlsed
ga￿￿{10$5¢￿)
B•l8nce #* 28
December
21122
Rwiurfe
expended
re5011rees
Unreytrlcted
General
372,332
37,038
(27,017)
(10.880)
15,074
371.473
Other
15,074
Total unrestrlcted
387.406
37.038
(27,017)
(25,954)
371,473
Endowment
Pem)anent
11,154
11.154
Tol•l funds
27.017
25,954
382 627
P8g¢ 13

The Spencer Homes Charlty
Notes to the FlnanclAI Stgdtements for the Year Ended 28 December 2022
Balanee at 29
Deeember
2020
Other
reeognl8ed
g4ln51llosse5)
Incomlng
resources
Resourees
expended
Dteember
2021
UnTe$trlcted
General
333.053
38,147
{16,481}
17,613
372,332
Other
30.281
15,2071
15,V74
TotHI unrestrleted
363,334
38,147
{16,4811
2,4(k
387.406
Endowmellt
Pemlanent
11,154
11,154
Total fund#
374,488
38.147
16.481
2,406
398,560
16 An#lysls ol net 855et¥ between fund5
Ullr¢gtrlcted Ertd0wD￿D¢
fund#
funds
Cetheral
Pern]aDent
fund$
funds
TotAI funds
Tangible fixed assels
Fixed asset investments
Current assets
cu￿ent liabtlities
Cr¢ditor.% over l year
Totsl net assets
132,669
191,505
56,791
(4,146)
5,346
132,669
191,505
67,945
14,146)
5,346
11,154
371,473
382,627
Page 14