Charity Rcgistration Number.. 248397
The Spencer Homes Charity
Aiinual RtPOTt and Firtancial Statements
for lh¢ Y¢ar Ended 211 December 2024

The Speneer Homes Charity
Contents
Refcrcncc and Administrative Dctails
Tru5tee5' Report
2to3
Ind¢pcndent Examiner's Rcport
Statetnent of Financial Aclivitie
Balan¢e Sheet
Notes to the Financial Statements
7t015

The Spencer Homes Charity
Referenee and Administrative DetaAIs
Charity Registration Number
248397
Almshou$e A5$0elation Memb¢r
Number
1022
Trll$te¢s
Mr G Cal'i. {Chair)
Mr5 J Y Smith
RevG L Hall
Mi% H R M#r5h411
Mr D A Brown
MrKNarey
Dr S Harrison
Seeretary
Mr S Brown
PriRcipal Office
Fold Hou5c. 6 The Fold
Lother8dal¢
Keighley
Weyt YurkshiTe
BD20 8HD
B¥nker$
Virgitt Mon¢y
14 Broadway
Bradford
Wesl Yorkshire
BDI IEZ
lThdependent ExamiTher
Mark Wilcock FCA
Watson Bucklc Limited
JndLpendent F.xaminei
YoTk House
Cottingley Business Park
Bi'adford
BD16 IPE
Page I

The Spencer Homes Charity
Trustees, Report
The TTUSte¢S PlESeni Ihe an]iual rq>ort together with the finall¢idl statements of the charity for the yeai. ejided 28
December 2024.
Stru¢ture? govtrnaRee m*ttxgement
The Charity is ihe own¢r of six houses and one llat at Rose-in-the Dale, Lothersilale. When there is u vacancy tlie
Tnjbtees try lo lit)d a resid¢nl of LoiheTsdale suitable for appointment as an almspeTson, but because of the lack of
transport and shopping facilities in the village, Ihere are dafficulties ii) findingT Suitèble applicants. Consequentlyi in the
absence of a suitable applicant, the Trustees make the properties available for letting lo the general public and priority is
givcn to 501neoiie in Teduccd circutll5tances OT living in SU￿Standard actommodalion or who has 4c?me ¢(Inoetlion lo
LothcTsdale.
All new TTUStees are given an introduction to the work of the Tnist by the existing Tn]stees and are also provided with
Charily CoJnini$sioTh publi¢alion CC3 'The Essential Trustee. what you need to know. and CCIO 'The Hallniarks of an
Eife¢tive Charily..
The Trustees of the Charity hold meetings every three tnonths unless there are special Cllrumstances Ihal reqilire
additional mectings. TheTC have becn no changes to lljc Tr￿leeS this ycar. Maintaining the numbe¥ uf Ttu.stees at gevt
is of great benefjt and enables the Try5te¢s tv continue the responsibilities of PToperty management and acting as
responsible Social Landlord.
In Setting and reviewing our aims the Trustees hove given ¢￿tful consideration to the Chai'ity Comin%ssiun's giiidaiice
on public benefit,
ObJe¢tlYes 8cdvliles
The Trustees review the renls Annually in Mèrch after ¢onsidcration of the Budget of in¢om¢ and cxpendiliir¢. This year
tho Trustees de¢ided to make no increase to the rents. tliey consider the CUTtent maintenance charge is achieving w&lue
ror ]non¢y.
The Truslees have conlinu¢d to m¥intain the properlies lo a high strandaril of repair and seek io Inakc improveineiils
either when properlie5 become vacant OT wlicn n¢edt> are id¢nlifi¢d. The Fiv¢ Yearly Quinquennial Ensp¢rlioD Io
dcntify and implement plann¢d maint¢non¢t and imPTovements was carried out in Scptember 2019.
Thc TnL%t pro[￿rtiCS havc a private watcr supply And ensuTing that both the quality and quantity of ihc water i8
mAiniained is a Constant conccim. Wat¢r quality te$tsng ha8 been maintained and any remedial works idenlified dealt
with.
Housing Property As5e*5
Details of changes to the ¢hari¢ies assets are shown in not¢ 10 anil I l.
Post Balance Shcet Evcnts
We consider that there have been no events since the year end thai hav¢ had a siEnifi¢ani effect on the tfU5ts fitLan¢ial
position.
Going Concern
After making enquirie5. the Trustees have a T¢asonable expectation that the Charity has adcqustc resources to continue
in operational existenc¢ for the foreseeable futurc, bcing a period of twelve Inonths after tli¢ dale on which Ihc r¢port
and finan¢ial siateinenls are signed. For ihis wsot), li continues to adopt lh¢ goit)g ¢onLeiTh bas1S Ill the financtal
slateJnenl5.
Page 2

The Speneer Homes Charity
Trustees, Report
Rescrves pollcy
The Tivstees have reviewed the Charitys nteds for the reserves in line with the guidance i￿lled by the Charity
Commission and conqider it prudent that reserves bhould be suifi¢ient to avoid the necessity to realise fixed assets. The
Trll8tces arc confidtnt Ihat futhre inLome will enable the Charity to meet its fore5¢eable needs on ihe basis of planned
exp¥nditure.
Total charity fund% at 28 December 2024 were £442.349 (2023 £417,273). The amoiint ol. rcscrves after makin
allowances for ieslri¢ted funds and not tied lip in tangible fixed ass￿$ or programme related investments 4mounted to
£55,18112023 - £43.1961.
Risk mADagement
Thc Tru5tee¥ give considei'ation to Ihe major risk$ to which the Charity is exposed and 5ysiems which are desiglled to
mitigat¢ thos¢ risks on an ongpoinK ba515.
Independent exY4miDer
The re appointment of Watson Buckle Limited w&% agreed by the Tnjstees.
Publlc benefit
Thc'frustees confinn thal they have complied with the requiremenls of section 17 of the Chariti¢s A¢t 2011 to have due
regard to lh¢ public benefit guidance pllblished by the Chatity Comrnission for England and Wales.
Value for money
The Trustces are mindful of the need to obtain value foi. moncy in all tran%acÉton8 enteTed into on behalf of the chai'ity
when Imajor works are undertaken a competitive tender is carried ollt. The charity regularly reviews its investments
pertomiance to eiisure they still a¢hieve a good rate of l.et￿￿.
The annual TCPOft was approved by the Trustees of ihc Chai'ity on .. .
nd sign¢d on its behslf by..
Mr G CaTT (Chair)
Trustee

The Spencer Homes Charity
Independent Examiner'5 Report to the trustees of The Spencer Homes Charity
report lo the Lhariiy ttustees on my exgmination of thc accoun1.% of the Charity for thc year ended 28 D¢c¢mb¢r 2024
which are set out on pages 5 10 15.
Respectlye responslbS1itie5 of trustee5 and examiner
As tlic charity's tru81ee8 of The Spenccr Flojncs Ch#rity you are responsible for the preparation of the accounts in
accordance with Ihe requirements of the Charities Act 2011 I'the Act'l.
I ieport tn respect of my examination of The Spcn¢¢r Homc% Charity's accounts caTTied out under section 145 of the
2UI l Act and in ca]rying out my examination I have followed all thc applicable Direction% given by ihe Charity
Commission under section l45(5Xb) of the Aci.
Jndependent exatniDcr's statement
111gve completed my cxainination. I confiTm that no malcrial maH¢rs Imve coine to my aLlenLion in connection with ihe
examination giving me ¢aiise io believe that in any material re5pecl:
accounti#g records were not kept in respect of The Spencer Hom¢s Charity as required by section 130 of the Act.
or
2. the accounts do not accord with those r¢cords- or
3. the accounts do not comply with iht accounting requirements ¢on¢¢ming the f(Trrni and eont¢nt of aLYounis stt out
in the Charities (Accounts und Rcport%) Ilcgulatioos 2008 othei. than any requirement that the account¥ giv¢ a
'ITue and fair view, which is not a matter considered as part of an irt(lependent examit]ation.
I havc no concerns and have come across no otbei. tnatters iu cofft]nection with Ihe examination to which attention should
be drawn En thi5 rcport in order lo enablt a proper understdoding ofihe accouJil$ to btt reached.
Mar
Wil¢ock FCA
Ind¢p¢ndent EAaTniner
Watson Bucklc Limil¢d
Bradford
Date..
Page 4

The Spene¢r Homes Charity
Statem¢ThÉ of Financial Activities lor the Y¢or Ended 28 Deeember 2024
(Including Income and Expenditure Account)
Endowment
funds
Unrestrleted funds
Revaluation
re$¢rve
Total
2024
Tutal
2023
General
P¢rmonent
r*'ote
Incorne and eThdowmcnts from
Invesimen15
Charilaèle activities
Other income
9,869
31,915
3.129
9,869
31,915
3.129
6.64J
33.105
129
Total illcotlle and e￿doWmellts
44.913
44.913
39,877
£xpendlture
Charitable a¢tivitÉ¢s
(18,583)
(18,583)
(19.985)
Net incom¢
Gain￿10￿5¢5 on invcstm¢nt assets
26,330
26,330
(1,2541
19,892
14,754
15
11254)
1254
Net movemellt sn funds.
26,330
25,076
34,646
Reconclllatlon of lund$
Total funds bix>ught forward
391,365
14,754
417,273
382.627
Tol81 fund¥ carried forward
417.695
13.500
11.154
442.349
417,273
The funth breakdown for the current and prior year is shown in note 15.
Page 5

The Spencer Homes Charity
(Registration number: 248397)
Balance Sheet as Mt 28 DecembLr 2024
2024
2023
Note
Flxcd assets
Tangiblc a5SCts
Investments
10
164,025
217.208
142,550
211,025
381,233
353,575
Current a$set$
Debtors
Cash at bank and ill ha￿d
12
1,433
69,132
1,466
71,507
70.565
72,973
Credltor5: Amounts falling due OD¢ year
14,357)
(4,056}
Net current Assets
66,208
68,917
Total #55ets le55 currellt liabilities
447.441
422,492
Creditors: AmouDt5 falliDg due after more than one year
Net assets
14
(5,092
5.219
442,349
417.273
Fund5 of the charity:
Reserves
Uiireslricted funds
Unrcslricied revalu311011 reseTve
Endowment ￿llds
417,695
13.500
11.154
391.365
14.754
11,154
Total Reserve5
15
442,349
417,273
The financial statements on pa&ves 5 to 15 w¢iE approved by the In]stees, and authorised for issue o
signed ott their behalf by..
LS
and
Mr G Carr (Chairl
Tnjstec
Mrs Marshall
Trustee
Page 6

The Speneer Homes Charity
Notes to the Finaneial Statements lor the Year Ended 28 December 2024
l General Informatlon
General information
Thc ¢ntity is an unincoiyorated registered charity govcrncd by thcir constitution, regislcred in England and W81es.
Th¢ addi'css of thc registcred (Trffice i5:
Fvld House. 6 The Fold
Lothersdale
Keighl¢y
Wesl Yoi'kshire
BD20 8HD
Charity regi.%tration number.. 248397
2 Aeeountlng pollcles
Statement of £OJDplianre
The finaiicial slateinent5 have been prepared irt a¢cordanee with Accout)ling and R¢portitJg by Ch8rities'. Siatement of
Recoinmcndcd Prdcticc (SORPI applicable to cliaritie5 preparing their accounts in accoixtancc will) the FinAn¢ial
Rcpotting Standard Applicabl¢ in the UK and Rcpubli¢ of Ireland (FRS 102) {effe¢tiv¢ l January 2015) (Charities
SORP IFRS 102)), thc frinancial Rcporting Standard applicable in rhe UK and Rq)ublic of Ireland (FRS 102} and the
Charities Act 2011,
Ba81$ of preparation
Th¢sc finaiictal statements have been prepared using thc histoillcal cost convention except that as dtsclosed in th¢
accounting poliGlCS Ccrtain it¢ms arc shown &t fair volu¢.
The ¢harity ¢onstitutes a public benefit entity as defined by FRSIO2.
The charity's functional and pr¢sentOtion cU￿encY is pound sterling.
Income endowments
Government giants from The Housing Corporation are received in respect of the Spen¢ei' Homes Charity. These grants
are recognised at Ihe fair value of the asset received. Where the asseis 31e accoun￿d for using the u)si model then the
govemmen¢ gratjt is accollnted for iisiiig tlie accrllals model. Tlie dil'feTence belw¢¢n tlie fair value of tl)e asset alld the
corhsideralloll 15 re¢ugnised as a liabiliÉy and amortised ovcr th¢ uscful cconomic life of the asset. This amorttsatiim is
recogt]iscd wiiliin it]come.
Charliable a¢ilvliles
Weekly rnainlenanGe ¢harges frtsm hou5in¥ properties is re¥ogniscd on an ac¢nJals basls.
DefÉpred income
Def¢rred incoinc represents amounts received for futhre pcriods and is Teleased lo illconiin8 resouires in the period foi
which. it ha5 bern received. Such in¢ome is only deferred when..
The donor 8pecifics that ihc giznt or donation rnust only bc used in fiiture accounting pcri(Kis- or
The donoi. has itnposed conditions which must be met befoiE the charity has un¢onditional entitlement.
Pagc 7

The Spencer Homes Charity
Notes lo the Flnancial Statements for the Year Ended 28 December 2024
Incorne is earned from holding fixed a55ets foi. inveslmeni purposes and iy recognised when receivable and the amouut
can bc measu￿d reliably by the charity.
Inlerest on fi￿dS hcld on deposit is includcd when r¢ceivoble and the amount can be tneasured ￿liablY by tbe eharity.
I xpeDdilure
All expendilure 15 recogni%¢d t)nL¢ ¢here is a legal or conslructive obligatioti lo that expenditure. it 15 probabl¢
settlemcnl is rcquired and ihe a￿o￿nt C2n be meosured r¢liably. All eosts allocated to the applicable expendiiure
h¢ading that aggrcgalc similar costs Iv that category. Where ¢o%ts ionnot be direLlly attributed to partiLular headings
thcy have bccn allo¢at¢d on a basis eonsistcnt with the use of resouiEes, wilh central staff LY)Sts allucated on the basis of
time 8pcnt, and depi'eciation chargc8 allocated on the portion of the asset's use. Other 5UPPOrt costs are allo¢ated based
on the spread of staff costs.
Clirtri**blÉ ttclivilie5
Charitable expenditure compris&g those co$ls incurred by the charity I￿ the delivery of its activities and services for ils
ben¢fi¢iMries. It includes both c08L$ that can bc allocated directly to such activitie5 and those tost% of an indiTect naluiE
necesyary lo support Ih¢m.
Goyernanee costs
Thc5e include the costs attributable to the charily's ¢omplian¢e with constitutional and slatutoiy requirements, in¢luding
audit. Strategic management and truste¢s' meetings and reimbursed expenses.
Taxation
The chaTity is considered to pass ihe tests Set out in Paragraph I Schedule 6 of Eh¢ Fimahce Act 201 U and therefore 5t
meets the dEfinition of a chdritable company for UK eo)yoration lax pu￿Oses. Accordingly, the ¢harity is potentially
exempt from taxation in respect of income or capital gains teceived within categories covered by Chapter 3 Part I l of
the Coiyor8tion Tax Act 2010 or Section 256 of the Taxalion of Chai'geable Gains Act 1992, to the extent that such
incomc or gains air applied exclu.8ively to charitable puiy()b¢S.
Tan&Fible fixed assets
Individual fixed assets tosting £100.00 or more are initially recorded at cost.
Depreelatlon and Imortisation
Depre¢iation is provided on tangible fiKd a5setS 80 LIS to write olT the cost or valuation, less &ny estimated residual
value. over their expect¢d useful economic life as follow5..
Asset c19$$
Original structuJE
Roof5
Doors and windows
Boilei's
BathiK>om
Kitchens
Electrical and heatiDg instsllutions
Depreciation method and rate
50 years
50 years
30 year5
15 years
25 years
20 years
25 years
Major compotjcnts of housing properties have bccn accounted for and depreciated separately from tl]e contt￿ted
housing prtspet¢y. over thcir expe¢t¢d useful cconomi¢ lives. The cost of replacirtg these components is capttslised in
full. The cost of paitially replabing or rcpairing Ihese Components are Charged lo thc charitablc aclivjtieg.
Page 8

The Speneer Homes Charity
Notes to the Finaneial Statement5 for the Year Ended 28 Deeember 2024
SigrtificaDf judgements gnd estlmates
Preparation of the financial slatenienls requircs mana8ei?ient lo mic kc signiflcant judgements and estimates. Th¢ iÈems i
the fsnancial slateinent8 where Ihese jiidgments thnd estimates havo b¢cn mad¢ include..
Dei)YecialioJi
ManagLmcnt reviews ils eslsmate of the useful lives of depreciable assets at each rew)rting date based on the exp¥Lied
utility of the assets,. how¢vei. by Iheir n4lure, compon¢ttl life cannot be determined wilh absolute LeTtainiy.
Fixed asset I￿Vestments
Fixed assel iiiv¢5ttnents, othcr ihan progixmme related inYe5tment5, are included at market value at th¢ balan￿ shect
dat¢. Rcalised gaitls and losses on investmcnt5 are calculated as th¢ diffcr¢ncc b¢iwc¢n sales procceds and their market
value at thc start of th¢ year, or their sub8cqucnt cost. al￿ are charged or credited to th¢ Stst¢meni of Fit)ancial
Activities in the pcriod of disposal.
Unre&lised gain5 artd losses represent the movement iii market values during the year and ale ¢redited or charged to the
Statement of Financial Activilies based on ihe market value al the year end.
Dcbknrs
Debtors are recognised initially when they become due at the lygnsaction price. They are subsequently rneasured at
amortised cosl using ihe effective inter¢st rate meth(Ki, les5 provision for itnpairtnent. A provision for impairnient of
debtors is established when there is objective evid¢nce il)at the charity will not be able lo collect all amount8 duc
according to the original l¢rnis of the debtors.
Credltors
Creditors ar¢ obligations to pay for good5 and services Ihat liave been acquired by Ilie cliarily. Creditors ¥r¢ initially
reco8nised at the Ir#nsa¢titsn price and subsequently measured at amortiscd r05t Using thr ¢ff¢¥live interest method.
Casb t#sh equlvalents
Cash and cash equivulents comprise ¢ash on hand and call deposits. and oiher shoit-terni highly liquid illve5ttnentS tbat
are reodily convertible to a knowll alnount of ¢ash and are subject to an insignificant risk of change in valur.
FlnAnii81 instrumtllts
The charity only has financial a.%%el8 and financial liabilitlC8 of a kind that qu#lify as ba81¢ finen¢ial in%trurncnts. Basic
financial iDstrumtnls ar¢ initially reco8nised at transa¢tton valuc and subscquently mcasured at their settlement value.
Page 9

The Spencer Homes Charity
Notes lo the Finanelal Statements for the Year Ended 28 Deeember 2024
3 Income frojn Investments
Unrestricttd
TotAI
2024
Total
2023
Ceneral
Interest reLeival)le and similar incom¢.
IDt¢rest teceivablc on bank deposits
OtheT income from r￿ed y5scI investments
2,432
7,437
9,X69
2,432
7,437
1.877
4.766
9.869
6,643
4 Income Charltable A¢tivltle8
Unrestrleted
Tot81
2024
Tot41
2023
GeNer#l
Wcckly maintenance char8CS
Voids
32,345
1430)
32.345
430
33.105
31,915
31,915
33,105
5 OthtT into￿e
UDrestrReted
Totgl
2024
Tot41
2023
General
Amortisation of grants
other income
Grants receivable
127
127
127
3,000
3,129
3,129
129
Page 10

The Speneer Homes Charity
Note5 to the Financial Stat¢ments for the Ye4r Ended 28 December 2024
6 Expendlture ort Cliaritable AetivitRes
Uiire$tri¢t¢d
fund5
TotAI
2024
TotAI
2023
General
Rates
Light, heat and power
Itt5urance
Repairs and iEnewols
Trade subscriptions
Managemet]t cliarges payable
Independent exa1￿1￿¢￿5 fee
D¢pre¢iation of fr¢ehold pro￿rtY
,651
1.477
1,667
4,278
1,651
1.477
1,667
4,278
1,477
1.768
1.607
6,100
343
1.200
1.260
6.230
1.200
1,320
6,990
1.200
1,320
6.990
18.583
18,583
7 Analy8ls of govtrn*nce and support cost$
GoverD*llC¢ costs
Unrestricted
TotAI
2024
Total
202.1
General
Independent cxaininei's fee
1,320
1,320
1.260
8 Trustees remuneratlon and expenses
No tru$tees hav¢ received any r¢muneration or retmbursed expense8 from the charily during the current or prevhous
veal.
9 Kry rn8M8gement personnel
The ¢harity considers its key m#nagvein¢nt personnel eumprise the trust¢es.
ThE total key mitNgemtTrt p¢¢wttoel remuneration benefits were £Nil (2023 - £Nil)-
Pagell

The Speneer Homes Charity
Notes to the Financial Statement$ for the Year Ended 28 December 2024
10 Tangihle filed assets
Housing
propertles for
lettlThg
Pr￿perty
improvements
Total
Cost
At 29 December 2023
Additions
41,817
173.640
28.465
2T5,457
28,46S
At 28 De¢ember 2024
41,817
202.105
243.922
Depreelatlon
At 29 December 2023
c]￿rge for the year
6,688
836
66,219
6,154
72,907
6.990
At 28 De¢ernbcr 2024
7,524
72,373
79.897
Net book value
At 28 Dcccmber 2024
34.293
129,732
164,025
At 28 December 2023
35.129
107.421
142.550
Page 12

The Spene¢r Hvme$ Charity
Notes to the Fillancial Statements for the Year Ended 28 December 2024
11 Fixed asset investments
2024
2023
Listed tnv¢stm¢1115
217,208
211,025
Other Investments
Llsted
investments
Total
Cost or Valuatio
At 29 Decembcr 2023
Revaluation
Additions
211.025
11,254)
7,437
211,025
{1,254)
7,437
At 28 D¢cember 2024
217,208
217,208
Net book value
Al 28 December 2024
217,208
217,208
Al 28 December 2023
211,025
211,025
The fail. value of listed invesiintnts is detennined by reference to the quotcd prtc¢ for idcnti¢81 assets in an a¢iive
maTkel at the balanc¢ sheet dgt¢. Historical costs of inv¢sltn¢nts are £214,588 (2023 - £207,154).
JZ DebtOY5
2024
2023
Pr¢paymthii$
WMC in aiTcars
1.183
250
1.216
250
1,433
1.466
13 Credltor&: amouRts falllng due wlthin othe year
21124
2023
Other ¢reditors
Acciwa15
Grants
1,810
2,420
127
2,549
127
4.357
4,056
P8ge 13

The Spencer Home5 Charity
Notes to the Financial Statements for the Year Ended 28 December 2024
14 Credltofs: 8mounts falllng due Rft¢r one yefir
2024
2023
Grants
5,092
5,219
HO￿81ng A$8ociatinn have been received, thi% will be repaid if the properties are sold. The Housing AssocRalion
Gran15 are being recogni5cd in income on a systcmdtic b#¥is over ihe ¢xpe¢t¢d useful life of ihe strneture150 years).
IS Funds
Bglanc¢ at 28
December
2023
Other
re¢ognlsed
galnsloosses)
Balance at 28
December
IneDmlng
resource$
Resources
expeRded
2024
Unr¢stri¢ted
General
391,365
44,913
(18,583)
417.695
Othei.
14.754
11,254
13,500
Total unrestrlLted
406.119
(18,583)
(1,254)
431,195
Endowment
Permanent
11.154
11,154
Total funds
417,273
44,913 254)
18,583
442,349
Balance At 28
ecember
2022
Other
reeogni5ed
gain$lOosses)
B81onee at 28
December
2023
Incomlng
resources
Resources
expended
Unrestricted
General
371,473
39,877
(19,985)
391,365
Otljer
14,754
14,754
Tot&1 unrestricted
371.473
39,877
(19,985)
14,754
406.119
Endowment
Permat]cnt
11.154
Tot41 fullds
382,627
14.754
417.273
Page 14

The Speneer Hnmes Charity
Note$ to the Financial Statements for the Year Ended 28 Deeember 2024
16 Analv$l$ of net *S5ets between funds
Unrestricted End&wm¢nl
funds
Permanent
funds
General
funds
Other funds Tot*1 funds
Tangible fixed asset$
Fixed ds&¢l inveslinenls
Current assets
Current liabilities
Creditors ovei. l year
164.025
218,462
59,411
(4J57}
15,092)
164,025
217.208
70.565
14.3571
(5,092)
442,349
{1,2541
11,154
Total net assets
432.449
11,254)
Pagc 15