Charity Re¥sslration Number.. 248397
The Spencer Homes Charity
Annuhl Reporl and Financial Statements
for the Ye&r Ended 28 December 2025

The Spencer Homes Charity
Contents
Reference alld Administrative Delails
Trnstees, Report
2103
Jndependent Ex¥mineT'S Report
Statemcnt of Finon¢ial Activities
Balance Sheet
Notes lo the Financial S¢atement8
7t015

The Spencer Homes Charity
Refeyenee and Administrative Details
Charlty Regi5trMtion Number
248397
Alnisliou5e Association Member
Number
1022
Trusteej
Mr K Narey (Chairl
Mr G Carr {Resi8ned 4 June 20251
Mrs J Y Smith
Rev G L Hall
Mrs H R Marshall
Mr D A Brown
Dr S Harrison
Rev S Mccarter (appointed 4 June 2025)
Secretary
Mr S Brow
Prlnelpal Office
Fold House. 6 The Fold
Loihersdale
Keibbley
West YorkshllE
BD20 8HD
Banker5
Virgin Money
14 Broadway
Bradford
West Yorkshire
BDI IEZ
Independent Ei xaminer
Mark Wilcock FCA
Watsot) Buckle Limiied
tndependenl Ex￿111¢r
Yolk House
Cottingl¢y Business Park
Bradford
BD16 IPE
Page I

The Speneer Home5 Charity
Trustees, Report
The TTUSt¢es prescnt the annual report togeiher with the finan¢ial ststements. of the ¢harity for the year ended 28
December 2025.
Strueturey governaDce And management
The Charity is the omner of six houses and oiie flat at Rose-in-thE Dale. Lothersdale. When there is a vacancy the
T]ustee8 try to find a L"e5idei)t of Loihersddle suitable for appointment as an almspeibon. but becau8e of the lack of
transport and 5hoppin8 facilitieq in the village, there are diffJ¢uliies in findiiig suitable applicants. Consequetstly, in the
8b5cnce of a.%uitablc applicant. thc Tn15tees mak¢ the propert1¢5 available for letting to the general public aiid priority is
given lo someone in reduccd circllm8tan¢es or living sn sul>standard 4Gcomrnodation or who has some ¢onne¢lion 10
Loihersdale.
All new Trustees are given an inttoduction ro the work of the Trust by the exisiing Trnstecs and are 8150 provided with
Charity Commission publi¢8tion CC3 'The Ess¢ntial Trustee. what you need to know, and CCIO 'The Hallmarks of an
Effc¢liv¢ Charity,.
The Trustccs of thc Charity hold meetings every three mottths unless there are special circumslattces that require
additional meetings. The changes to the TJus¢ees thL5 ycar air noted on thc previou5 page. Maintaining tbe number of
Tivstees at seven is of grcat bcnefit and enable.% the Trnstees to Contin￿ the responsibilities of property mor]agement
aDd acting as responsible Social Landlord.
In setting aiid reviewing our aims the Trusiee5 have given Careful ￿nsideratiOn to the Charity Commission's guidance
on public benefjt.
Objectlve& aDd activltles
The Trustees review ihe rents annually in March after considcration of the 13udgct of ineomc and expendilurc. This year
the Trustees decided io make no increase to the rents, tbey consider the current maintenance charge is achitving value
for money.
The Trustees have contioued to mainthin the properlie¥ to a high 5talldard of repair and seek to make ilnprovements
either wh¢n propertie5 becomc vacant or when tkceds are idcnlified. The Five Yearly Quinquennial Insp¢ction to
identify aDd i]nplcmcnt planned mainicnancc and improv¢m¢nts wa5 carTied out in Scplcmber 2019.
The Trust properties have a private water supply and ensuring that both the quality and quantity of the water is
maintained is a constant ¢on¢etn. Water qu8lity 1¢sting ha5 been maintained and any remedial works identified dealt
with.
Houslng Property A$8ets
Details of changes to the charities assets are shown in note 10 and I l.
Post Balance Sheet Events
Wc consider that there have been no evenls since the year ejid that have had a significant ¢ffe¢t on ihe tn￿tS finaiicial
>sition.
GoiDg Concern
After making ertquiries. the Trllstees have a reasonable expectation that Ihe charity has adequaie resources to continue
in operatioii&l existence for the foTesteable ￿tllre, being A period of twelvc months after ihe date on which the r¢port
and finaiieial statements ai¢ si8ned. For this i'eason, it continues to adopt the going cot)cern basis in the financial
stat￿n￿lts.
Page 2

The Speneer Homes Charity
Trustees, Report
Reserves pollcy
The Trustee5 have revicwed ihe Charitls needs for the reserves in line with the guidance issued by the Charity
Commissiot) and consider it prudtnt that reserv¢s should be suffieient to avoid the necessity to realise fixed as5cls. The
TrustCC5 are confident that future income wtll ertable the Charily lo meet its forcseeable needs on the basis of planned
¢xpendI￿re.
Total charity fi]nds at 28 December 2025 werc £458,101 (2024 - £442 J49). The amount of reserves after making
allowa¢Jces for restrietcd funds and not tied up in tangiblc fixed assets or programme related inve8trnents amounted to
£76,239 {2024- £55.181}.
Risk m8nagement
The Trustees give consideration to the fflajor ri5k5 to which th¢ Charity is exposed and systems whiGh are designed to
mitigate those risk5 on #n vngoing basis.
Independent ezaminer
The re appointment of W￿80n Buckle LiTnited was agreed by the Trustees.
Pthblic benefit
The Trustees eonfirni that they h4v¢ complied with the requirem¢nts of section 17 of the Charities Act 2011 to have due
regard to the public benefit guidance published by the Charity Commission for England and Wales.
Value for money
The Trustees are mind￿[ of the need to obtain value for money in all transactions entered into on behalf of the charity
when major works aTe undertaken a competitiye tender is ￿rri￿ out. The charity regularly reviews its investments
perfomianee to ensure they still achieve a good rate of return.
Flnao¢lal review
The TJv$tees consideT the Trust's investment portfolio at each quarterly meeting and consider whether any Changes are
needed. The inv&%lmenls are in funds 5pe¢ifically d¢signated for Charities and geared towards providing income whilst
incorporating long-t¢mi growth.
The TNstees rew>rt that the sutplus for the year was £15,752 atld the net assets of the Charity at 28 Dccember 2025
were £458,101.
The ajjnual report was Approved by the Trustees of the charily on !•
Mr K Narey (Chair)
Trustee
Page 3

The Spencer Homes Charity
Independent Examiner's Report to Ihe truslee8 of The Speneer Homes Charity
I report to the charity tn2sle¢s on my examination of the ac¢ounts of the charity for the year ended 28 December 2025
which are 8et out on pages 5 10 1 S.
Re5pettlv¢ respon$lbllltles of trustee5 and examlner
As the charily's tnislees of The Spenc¢r Homcs Charity you are re$ponsible for the preparatAon of the accounts in
aecordance with the requirements uf ihe Charities Act 2011 ('the Act')-
report ITL respect of my examination of The Spencer Homes Chority's accounts ca]Tied out under section 145 of the
2011 Act and in carryin¥ out my examination I have followed all the applicable Directions given by the Charity
Commission under ￿¢tiOn 145(5llb) of thE Act.
Independent examloer's staternent
I have ¢ompleted Iny exan)ination. I Conf￿ that no material matters have comc lo my attention in connection with th¢
e￿MInalL￿n giving me cJuse lo believe thal in any n18t￿la1 resp¢ct-
l. accounting record5 were not kept in respect of Th¢ Spen¢er Homes Charity as rcquired by section 130 of the Act.,
or
2. the accounts do not at¢ord wtth those records- or
3. Ihe accounts do not Comply with the accounting rcquiTemen15 concerning the forn) and content of accounts set out
in the Chaiities (Accounts and Rcportsl RegulatÉons 2008 other thon any req￿[Tement that thc actovnts give
'true and fair view, whi¢h is not a matter ¢onsidered As part of an independent examination.
I have no conccrns and have come across no oth¢r matte[$ in connrclion with the examinalioii to wbich attelltion should
be drawTr in ihis report 111 OTder to enable a proper understanding of ihc a¢¢ounts to be leached.
ilco
FCA
Indepen
Examiner
Watson Buckle Limited
B Tadford
Date..
Page 4

The Spencer Homes Charity
Statement of Financial Ac¢ivities for the Year Ended 28 December 2025
(Including Income and Expendlture Aecount)
Endowment
funds
Unrestrieted funds
Revaluatio
reserve
Tot41
2025
Total
2024
Gener81
Permanent
Note
Incomc 8nd endowments from
Inv¢stm¢nts
Charitable activities
Other illcome
9,207
32.484
129
9,207
32,484
129
9,869
31,915
3,129
Total Income and endowments
41,820
41,820
44,913
Expenditure
Charitable activities
(20,658)
120,658)
{18.583)
Net income
Gainsllosses on inve5tmertt assets
21.162
21.162
{5,410)
26.330
{1,254)
25.076
15
{5,410)
Net movement in funds
21,162
5,410)
15,752
Reconclliation •f funds
Total funds brou¥lil forward
417,695
13,500
11,154
442,349
417,273
Total funds carried fonvard
438,857
8,090
11,154
458,101
442,349
The funds breakdown for The current and prior year is shown in not¢ 15.
Pagc 5

The Spencer Homes Charlty
(Registration number: 248397}
Balance Sheet as at 28 Dee¢mber 2025
2025
2024
r4ote
Fixed assets
Tangible assets
Investments
10
157.035
218,765
164,025
217.208
375 800
381,233
Current a9sets
Debtors
Cash al bank and ill hand
12
2.964
1,433
69,132
91,783
70,565
Credltors: Amount5 falliDg due wlthfn oDe ye&r
Net current assets
13
14,517
{4,357
87,266
66,208
Total assets les8 current1Sabllities
463,066
447,441
Creditors: Amount$ falllng due after more th&D one year
Net assets
14
4,965
5,0921
458,101
442.349
of the ch*rlty:
Reserve$
Unrestricted funds
Unrestricted revaluation reserve
Endowment fund5
438,857
8,090
11,154
417,695
IJ,500
11,154
Tot41 Reserves
15
458 101
442.349
Th¢ financial statements on pages 5 to 15 were approved by the trustees, and authorised for issue on IO
signed on their behalf by:
Mrs H R Marshall
Trustee
Page 6

The Speneer Homes Charlty
Notes to the Financial Statements for the Year Ended 28 Deeember 2025
l General Informa*loll
General informatlon
The entity is an unincorporated registered charity govorncd by their ¢oiistitutioll, reKi$tered in England and Wales.
The address olthe registered officc is:
Fold House, 6 The Fold
Loihersdalc
Keighley
West Yoikshire
BD20 8HD
Charity registration number.. 248397
2 Aecountlng polldes
StAtement of¢ornpiiante
Th¢ financial slalemenls have been preparcd in accordancc with Accounting and R¢portillgi by Charitie8.' Statemenl of
Reiommended Practi¢¢ (SORP) applicable to charities preparing their accounts in a¢cordanLe with thc Finaocial
Reporting Standard applicabl¢ in Éhe UK and Republic of Ireland IFRS 1021 {¢ffectivr l January 20151- (Charilies
SORF IFRS 102)), the Financial Reporting Standkwd appli¢able in the UK and Republic of Ireland IFRS 102) and the
Charities Act 2011.
B8s1s of preparhtlon
Thes¢ f￿a￿cial 5tatemettts have been pr¢pared u51ng the historical to$t convention except that as di8¢losed in the
accounting policies ceifain items ar¢ shown at fair valuc.
The charity constitutes A publi¢ bentfii entity as defined by FRSIO2,
The charitys fvnciional and presentstion ¢unEncy 15 pound sterling.
Income And endowinents
Government ￿'ants from The Housing Co]poration are received IJJ respcct of the Spencer Homes Charity. These grants
are re¢ognised at the fair valu¢ of tlJ¢ asset received. Where th¢ assets are accountcd for usillg the cost model tlien the
goveTlltnent grant is ac¢ounted foT using the accEuals mod¢l. The diffcrcncc between the fair value of the asset and ihe
consideralioii 15 recognised as & liability and amortiscd over the useful economic life of th¢ asset. This amortisation is
recognised withill income.
Chrtrltuble aeilvliles
Weekly maintenanc¢ charges from hol￿]ng propeiti¢s is re¢ognis¢d on xccruals basis.
Deféryed Income
D¢f¢rred illeoine repTesents ¥moiinls receivcd for future periods and is rele88ed to incoming resources in the period for
whiGh, it has been received. Such in¢oine is only deferred when:
- The donor 8pecifi¢s that the grant or (lon8tion must only be used in future accounting p¢riods,' or
- The donor has imposed conditions whicb must b¢ met before the chirity has utjcondilional entitlem¢nt.
Page 7

The Spencer Home$ Charity
Noles to the Financial Statements for the Year Ended 28 December 2025
Ihveslimeiil iwctsKie
In¢omc is earn¢d from holding fixed assets for inveslinent purposes and is r¢¢ognised wh¢n rcceivable and the arnount
cat) be measured reliably by Ihc charity.
Inter￿¢ on funds hel(J OD deposit is included when recciv8ble and the amount can be measured reliably by the charity.
ExpeDdlthre
All ¢xpenditurc is rccogniscd once there is a legal or conslrll¢tive obli¥ation to that expenditure, it is probable
s¢ltI¢￿ent is requiied 8nd th¢ amount can bc measured reliably. All costs are allocgttd lo Ihc applicable expcnditure
lieading that a¥￿gate similai. costs to that category. Where costs cannoi be diTectly attributed io particlllar headings
they have be¢n allocat￿ on a b8sis ¢onsistcnt with the use of rc$ource5. wilh central staff cos15 allocated on tbe basis of
time spent, and depreLiation Charges allocated on the portion of thc asset's usc. Other support costs are allocated based
on the SPiEad of staff costs.
Charilohle ueiivlties
Charitable expenditure comprises thosE Costs incuned by the Charity in the deltvery Of its activitie8 and services for its
beneficiaries. It includes both e05t5 that ¢aE) be allocated directly to such activities and those eosis of an iiidirecl nature
necessary to support ihem.
Governanet t05tS
These in¢ludB the Costs athibutable to the charity's compliance with constitutional and statutory requirements, including
audit. strategi¢ management and trustees. meetings And reimbursed expenses.
T4Xatlon
The charity is considered to pass the tests Set out in Paragraph I Schedule 6 of the Finance Act 2010 and th¢r¢fO￿ it
mtet5 the definition of & charitable company for UK corporation tax purposes. A￿ordIng[y. the charity 18 potenlially
exempt from Iuxation in respect of income oi. capElal gain.i irceived within categories covered by Chapter 3 Part I l of
the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such
income or gains are applied exclusivcly to ¢haritabl¢ purpos¢s.
Tan¥ible fixed asset5
Individual fixed assets costing £IUO.00 or more are initially recorded at cost.
DepreciatloD 4Dd amortts&tlon
Depre¢iation is provided on tangible fixed assets so as to write off the cost or valudlion. Ickn any estimated residual
value, over their expected ￿sefUl economic life as follows..
Asset class
Original strnctUTe
Roof$
Doors and windows
Boilers
Bathroom
Kitchens
Electrical and heating LnsLqllatiotL%
Depreclatlon method gnd rAte
50 ycar.
SO years
30 ￿rS
15 years
25 years
20 yeaTS
25 years
Major components of housinb pi'operties have bccn accountcd for and depreciated separately froin Ihe rollnected
housing property, over (heir expected yseful ¢cunomiL livc%. The cost of rcplacijjg th¢.%e cotnponcnts Is capilalised in
11. Thc cost of partially rcplacing or repairing these components are charged to th¢ charitable activities.
Pag¢ 8

The Spencer Homes Charity
Notes to the Financial Statements for the Year Ended 28 December 2025
Signifieant JwdgeEnents ¥4nd estlmate5
Preparaliun ofthc finatieial slAteinents requi￿5 managen)¢nt to make sigiiifieant judgeinents and estiTI￿les. The it¢ms iti
the financial statements whcre fhese judgm¢nts and eslijnatcs have been made include=
Depre¢iolioN
Managemcnt reviews its esiimai¢ of the useful lives of d¢pieciable assets at each reporting date bas￿ on th¢ ¢xp¢cted
utility of the assels,. how¢ver, by Ilieir nature, component life cannot bc dcternihned wilh absolulc c¢rtainty.
Fixed a51Ct InYestmeTht5
Fixed asset inveslmcnts, other than pmgramD]e related inv¢stm¢nt8, are illcluded at market value at the balanc¢ sheet
date. Realised 8ains and losses on investments are ealculaled as the ditT¢r¢n¢¢ between sales prts¢¢eds and their mai'k¢l
value at th¢ sihrt of the yeai". or their subsequ¥nt Lost, and are Cha￿sed 01 ¢iedil¢d to the Siatemtnt of Financial
Activities ill thc period of disposal.
Unreall￿ed gains &nd losses rcpresent th¢ movement an market values dwing the year and are ¢redited or charged to th¢
StatempAit of Fiiiancial Aclivities based ot) the market value at the vear end.
Debtors
Debtots are recognised initially when they become due at the transaction price. Thcy are subsequently messured at
amortised ttsst using Ilie effect£v¢ interest rate method, less provision for itnpaimient. A provision for impairment of
debtors is e5(ablishEd wli¢ii there is objectiv¢ evidence that the Charity will not bc able to colle¢t all amoujiis due
according to lh¢ original term5 of the debtors.
Credltors
Creditors are obli8ations tts pay for goods and SCTvi¢es that have been acquired by the Charity. Cr¢dilor8 are initially
reLognised at the transaction PTice and subsequently measured at amortised cosi using the effective interest method.
Cagb and Cash equlv8lent5
Cash and cush equivalell15 comprise cash on hand and call deposkls, and other 5hort-t¢m) highly liquid investm¢nts that
re readily convertible to a known atnount of cash and are subject to an insignifjcant risk of change in valuc.
FinY4nelal instruments
The chaTity only has finat]cial asseis and fjnallcial liabilitie8 of a kind that qualify as basi¢ f￿ancial in51rufflents.. Basic
financial instruments are initially recogtlised at tran$acti<)n value and subsequenily measured at their s¢tilement value.
Page 9

The Spencer Homes Charlty
Notes to Ihe Financial St&tements for the Year Ended 28 Deeember 2025
3 Income fi'om Investments
Unrestricted
TotAI
2025
TotAI
2024
General
Inleresl receivdble and similiw income-
Interest receivable on baiik deposits
Other income fro]n fixed ass¢t investm¢nt8
2.240
6,967
2,240
6,967
2,432
7,437
9,207
9,207
9,869
4 Income from Cbarltoble Attlvltles
Unrcstrleted
Toial
2025
Tot#
21124
Ceneral
Weekly rn8intenance charges
Voids
32,484
32,484
32,345
(4.10)
31,915
32.484
32.484
5 Other Incom¢
Unrestricted
Total
2025
Total
2024
GenerAI
AmortlS8tion of grants
Other income
Grants receivable
127
127
127
3,0(K)
129
129
3,129
Page 10

The Spencer Homes Charity
Notes to the Finydncial Statements for the Ye&r Ended 215 December 2025
6 Expendlture on Charltable Aetivitles
UDrestrl¢led
fund5
Total
2025
Total
2024
Central
Rales
Light, heal and power
Tnsurancc
Repairs and Tenewals
Trade subscriptions
Managemcnt charges payabl¢
Independent exllminerfs fee
DepreLiation of freehold property
2,048
1.392
1,623
5.642
383
2,048
1,392
1.623
5.642
383
1,200
1,380
6,990
1,651
1.477
1,667
4.278
1,200
1,380
6,990
1.200
1,320
6,990
20,658
20,658
18,583
7 Analysis of goverllaThee and support CO8ti
Govtrnan¢e eosts
Unrestrlcted
Total
2025
Total
2024
General
In(kpendent examinels fee
1,3110
1,380
1,320
8 Trustees Yemuneratinn txpenscs
No trustees havc reccived any Etmuneration or iEimbursed expenses fiDm th¢ Lharily during the current or pr¢vi(ius
year.
9 Key management persoMn¢l
The charity ¢onsid¢rs its k¢y manauemenl personnel comprisc the thJ$tees.
The totsl key m8nagcmcnt personnel r¢muneration benefi1& were £Nil (2024- £Nil).
Pagell

The Spencer Homes Charity
Note8 to the Flnan¢ial Statements for Ihe Year Ended 28 December 2025
10 Tanglble flxed assets
HO￿sing
properties for
l¢ttlng
Property
improvetnents
Total
Cvst
At 29 December 2024
41,817
202.105
243,922
At 28 December 2025
41,817
202.105
243,922
D¢preciation
At 29 DeceM1￿r 2024
Chai'ge for the year
At 28 December 2025
7,524
836
72,373
6,154
79,897
6,990
8,360
78.527
86,R87
Nel book value
At 28 De¢ember 2025
33,457
123,578
157,035
At 28 Dccember 2024
34,293
129.732
164.1125
Page 12

The Speneer Home8 Charity
Notes to the Financial Statements for the Year Ended 28 December 2025
11 Fixed asset inYestJnent5
2024
2024
Listed investments
218,765
217,208
Other lthvestments
Listed
inve5tm¢nt$
TotHI
Cost or Valuarfon
At 29 December 2024
Revaluation
Addititsns
217,208
15.410)
6,967
217,208
(5,410)
6,967
At 28 December 2025
218,765
218,765
Net book value
At 28 December 2025
218,765
218.765
At 28 December 2024
217,208
217.208
The fair value of lisied invesim¢nts is d¢terniin¢d by referen¢¢ lo th¢ quoted price for id¢oli¢al ass¢ts in an active
rna￿¢( ai th¢ balance sheet date. Histoiical costs of invesitnell15 are £221,556 (2024- £214,588).
12 Debtoys
2025
2024
Prepaym¢nis
WMC allr￿5
1,714
1,250
1.183
250
2,964
1,433
13 Creditor5: amoun15 falling due withln yeor
2025
2024
Other creditors
Accruals
Grants
1,810
2,580
127
1,810
2,420
127
4.517
4.357
Page 13

The Spencer Hom¢$ Charlty
Note5 to the Financial StAtements for the Year Ended 28 December 2025
14 Credltor8: amounls falllttg due after one year
2025
2024
Grants
4,965
5,092
Housing Association Grants have been received, this will be repaid If the propertte% are sold. The Housing A$s￿latiOn
Grants are being re¢ognised i2] income on a systematic basi.8 over th¢ expe¢t¢d u$¢fi]I life of the stw¢ture150 Yea￿).
15 Funds
Bal&net at 211
Deetmber
2024
Other
reet>gnised
galnsl(losses)
Balance at 28
De¢embcr
2025
Incoming
rosourees
Re5nurce$
expended
Unrestrleted
G¢ner41
417,695
41,820
(20,658)
438,857
Other
13,500
5,410
8,090
Total unrestrlcted
431.195
41,820
(20,6581
(5,410)
446,947
EndDTrYme#t
Pern)anent
Total fu￿rtS
442,349
20,658
5,410
458,101
BalaThce at 2
December
2023
Olher
recognised
gain￿(10$5¢$I
B*lAnt¢ It 28
December
Resource5
expended
resources
2024
UTrre5tri¢led
General
391,365
(18,583)
417,695
Oth¢r
14,754
(1,254
13,500
Tot41 Mnrestrlc¢ed
406,119
(18,583)
(1.254)
431,195
Pemianent
11,154
11,154
TotAI funds
417.273
18,583
11,254)
442.349
Page 14

The Spencer Hon)es Charlty
ote5 10 the Financial Statements for Ihe Year Ended 28 December 2025
16 AnAIv8ls uf net assets between fund5
Unrestrlcted Endowment
fund5
runds
General
PerJDAnellt
funds
fund$
Otber fund5 T(btAI funds
Taii8ible fixed assets
Fixcd asset inv¢slments
CurreDi assets
Current liabililies
Creditors ov¢1 l year
57.035
224.175
80,629
(4,5171
{4.965)
157.035
218,765
91,783
14,517)
{4,9651
(5,4101
11,154
Total net &ssets
452,357
11.154
(5,410)
458,101
Pag¢ 15