## **The Lady Margaret Hungerford Charity Trustees’ Report for the Year Ended 31st March 2025**
The Trustees are pleased to present the accounts for the year ended 31st March 2025. Over the past year, the Charity has continued to fulfil its mission of supporting beneficiaries and preserving the unique heritage of the Grade I listed building under its care.
## **Financial Performance and Contributions**
The Charity has maintained a strong financial position, with no Weekly Maintenance Contribution voids during the year. In accordance with policy, contributions were reviewed annually and, from 1st April 2024, increased in line with the Consumer Price Index (CPI).
## **Building and Facilities Management**
The schoolroom has seen increased use, creating new opportunities for community engagement. Visitor numbers have risen, with feedback consistently positive and highlighting the enhanced value of the facility.
Despite these successes, the Charity continues to face significant structural repair requirements due to the historic nature of the building. Preservation remains a top priority, requiring sustained funding and careful resource management.
## **Fundraising and Community Engagement**
Fundraising efforts have been particularly successful this year. The Trustees remain committed to developing creative initiatives that build awareness, encourage community involvement, and secure the building’s ongoing relevance in local life.
## **Educational Charity Fund**
The Educational Charity Fund remains unchanged at £4,000, providing a solid foundation to support educational initiatives.
## **Acknowledgements and Summary**
This year has been both rewarding and challenging. The Trustees extend their sincere thanks to the dedicated volunteers and supporters whose contributions are invaluable to the Charity’s work. With continued collective effort, we look forward to strengthening our impact and safeguarding this historic asset for future generations.
_Freddie van Gerwen_
Chair of the Trustees
## **LADY MARGARET HUNGERFORD CHARITY**
**ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025**
**Registered charity No 248575**
## **The Lady Margaret Hungerford Charity Accounts At 31 March 2025**
## **Table of contents**
||Page|
|---|---|
|Information|1|
|Trustees' Report|2|
|Trustees' Responsibilites|3|
|Independent Examiners Report|4|
|Income and Expenditure account|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 to 10|
## **The Lady Margaret Hungerford Charity**
## **Accounts as at 31 March 2025**
## **Trustees**
Ms J Battersby Mr F Van Gerwen Mr G Ward C Chamberlain J Peeters
## **Honorary Clerk**
Mrs P Freestone
## **Registered Office**
Pound Pill Corsham Wilts SN13 9HT
## **Governing Document**
The Charity is governed by a scheme of the Charity Commisioners dated 19th January 1998
## **Charity Commission**
Registerd number 248575
## **Bankers**
Lloyds TSB plc 29 High Street Chippenham Wilts SN15 3HA
Page 1
## **The Lady Margaret Hungerford Charity**
## **Trustees report for the Year ending 31st March 2025**
The Trustees present the accounts of the Charity for the year ending 31[st] March 2025.
Page2
## **The Lady Margaret Hungerford Charity Trustees' responsibilites in relation to the financial statements**
The law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and;
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operational existence.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position for the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
## **The Lady Margaret Hungerford Charity Independent Examiners' Report**
## **Independent Examiners Report to the Trustees of The Lady Margaret Hungerford Charity**
We report to the trustees on our examination of the accounts of the Lady Margaret Hungerford Charity for the year ended 31 March 2025.
## **Responsibilites and basis of report**
As the Charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act")
We report in respect of our examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 ot the Act, or
2. the accounts do not accord with those records, or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached.
## Jahanzab Arshad
Easy Accounts & Tax Ltd Chartered Accountants
C/O Easy Tax 510 Bristol Business Park Bristol England BS16 1EJ
Date: 05/08/2025
Page 4
## **The Lady Margaret Hungerford Charity Statement of financial activities for the year ended 31 March 2025**
## **Unrestricted funds**
|||**Total**|**Total**|
|---|---|---|---|
|||**2025**|**2024**|
||Note|**£**|**£**|
|**Incoming resources**||||
|Donations||3,440|19|
|Maintenance contributions||67,866|64,183|
|Less: Losses through voids||-|-|
|Interest receivable and other income|4|71,306
16,305|64,202
13,914|
|**Total incoming resources**||87,611|78,116|
|**Resources expended**||||
|Costs of generating funds||||
|Post, stationery, publicity, bank charges||-|-|
|**Net incoming resources available**||87,611|78,116|
|**for charitable application**||||
|**Charitable expenditure**||||
|Management and administration of the charity:||||
|Insurance||6,724|7,489|
|Repairs and maintenance||35,158|35,447|
|School room project||2,589|105,172|
|Fees to Almshouse Association||419|407|
|Cleaning and sundry||4,237|5,498|
|Rates, electricity, water and telephone||2,012|4,731|
|||51,139|158,744|
|**Goverance costs**||||
|Independent examination and accountancy||600|600|
|||600|600|
|Net incoming resources||35,872|(81,228)|
|Fund balances brought forward||482,506|563,734|
|Fund balances carried forward||518,378|482,506|
|Unrealised investment gain / (loss)|6|18,145|15,830|
|||536,522|498,336|
All activities derived from continuing operations.
The notes on pages 7 to 10 form an integral part of these accounts.
Page 5
## **The Lady Margaret Hungerford Charity Balance Sheet as at 31 March 2024**
|**Note**
**£**
**£**
**Fixed assets**
Housing property at valuation
5
5,941,560
**Current assets**
Debtors and prepayments
1,375
Investments
6
279,539
Cash at bank and in hand
7
99,943
**Total current assets**
380,857
**Creditors: amounts falling due within one year**
Other creditors
8
100
**Net Current Assets**
380,757
**Creditors: amounts falling due after one year**
Loans
Wiltshire Council
-
-
**Total Assets less total Liabilities**
6,322,317
**The funds of the Charity**
Unrestricted funds:
Unrealised gain on property re-valuation
5,748,869
Unrealised investment profit / (loss)
11
165,439
Unrestricted revenue accumulated funds
11
106,911
6,021,219
Designated loan repayment fund
-
Designated fabric fund
9
297,098
Designated educational charity fund
10
4,000
301,098
6,322,317
**2025**|**£**
**£**
5,941,560
-
261,394
78,602
339,996
100
339,896
-
-
6,281,456
5,748,869
160,450
71,039
5,980,358
-
297,098
4,000
301,098
6,281,456
**2024**|
|---|---|
Approved by the trustees on
The notes on pages 7 to 10 form an integal part of these accounts.
Page 6
**The Lady Margaret Hungerford Charity Notes to the financial statements for the year ended 31 March 2025**
## 1 **Accounting policies**
## **Basis of preparation of the accounts**
The statement of accounts have been prepared in accordance with the Companies Act 2011, the statement of Recommended Practice Accounting Reporting by Charities and applicable accounting standards. Where necessary the headings laid down in the Act have been adapted to meet the specific activities of the Charity. The Charity qualifies as a small company under the Act and the Trustees have elected to take advantage of the exemption under FRS1 not to prepare a cash flow statement.
Insofar as the Statement of Recommended Practice for Accounting and Reporting issued by the Charity Commissioners for England and Wales requires compliance with specific Financial Reporting Standards other than the FRSSE then the specific Financial Reporting Standards have been followed where their requirements differ from those of the FRSSE.
The particular accounting policies adopted are set out below.
## **Accounting convention**
The financial statements are prepared, on a going concern basis, under the historical cost convention.
## **Incoming resources**
Incoming resources are accounted for on a receivable basis deferred as described below.
## **Investment income**
Bank interest is included in the income and expenditure account on a receivable basis.
## **Recognition of liabilities**
Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance in the Statement of Recommended Practice for Accounting and Reporting (revised June 2008) issued by the Charity Commissioners for England and Wales.
## **Resources expended**
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT which is reported as part of the expenditure to which it relates.
## **Costs of generating funds**
Comprise the costs associated with attracting voluntary income.
## **Charitable expenditure**
Comprise those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
Include those costs associated with meeting the constitutional and statutory requirements of the Charity and include costs linked to the strategic management of the Charity.
## **Reserves policy**
The Charity's policy focuses on the future cost of repairs that will be inevitable and expensive for this unique Grade 1 listed building and it's Grade 2 annex.
The current reserves have come for the careful management of rental income with any excess being allocated to the fabric fund.
The calculation of the level of reserves needed has been taken from a mix of the experience 20 years ago when £1.6 million was spent on refurbishing the building and on the experience of local housing associations. Recent experience such as the discovery of rotted timber lintels and beam ends will be funded from the fabric fund at a cost currently estimated at over £100K. This able demonstrates the need for the level of reserves that the charity has.
The level of reserves will be evaluated quinquennially.
Page 7
## **The Lady Margaret Hungerford Charity Notes to the financial statements for the year ended 31 March 2025**
## 1 Cont'
## **Unrealised and realised gains**
Realised gains and losses are included in the accounts on the date at which a contractural obligation is entered into.
Unrealised gains and losses are computed by reference to the market value of the investments at the balance sheet date, compared to the brought forward cost or valuation, and gains and losses on similar categories of investment are netted off.
## **Allocation of costs within types of resources expended**
The methods and principles of the allocation and apportionment of all costs between different activity categories of resources set out above are:
All costs are allocated between expenditure categories of the SOFA on the basis designed to reflect the use of the resources. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, as set out in the notes to the accounts.
## **2 Winding up or dissolution of the Charity**
If upon winding up or dissolution of the Charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the Charity.
## **3 Surplus for the financial year**
|**3 Surplus for the financial year**
This is stated after crediting:
Revenue turnover from ordinary activities
and charging:
Independent Examiners' fee
4 **Interest receivable and other income**
Bank interest
Schoolroom hire
Dividends reinvested
Just Giving Income
Entrance fees|**2025**
**2024**
£
£
600
600
**2025**
**2024**
£
£
5
-
1,621
3,480
13,155
10,122
343
1,181
312
16,305
13,914|
|---|---|
Page 8
## **The Lady Margaret Hungerford Charity Notes to the financial statements for the year ended 31 March 2025**
|**5 Fixed assets**
**Housing properties**
Net cost
Revaluation|2025
2024
£
£
192,691
192,691
5,748,869
5,748,869
5,941,560
5,941,560|
|---|---|
The property has been included in the accounts at the current insurance valuation.
|**6 **|**Investments**||2025
2024|
|---|---|---|---|
||Market value at 1 April 2024||£
£
261,394
245,564|
||Dividends reinvested||13,155
10,122|
||Transfer||-|
||Net unrealised (loss)/gain||4,989
5,708|
||Market value at 31 March 2025||279,539
261,394|
||The investments comprise|No. of|Cost
Market|
||NAACIF accumulated shares|shares
2280.76|Value
£
£
80,000
279,539|
||||80,000
279,539|
|**7 **|**Cash at bank and in hand**||2025
2024|
||Bank - current account||£
£
8,768
26,855|
||Santander||88,668
51,745|
||Petty cash||2
2|
||Charity bank account||2,505
-|
||||99,943
78,602|
|**8 **|**Creditors**||2025
2024|
||Accruals||£
£
100
100|
||Wiltshire Council||-
-|
||||100
100|
Page 9
**The Lady Margaret Hungerford Charity Notes to the financial statements for the year ended 31 March 2025**
## **9 Designated fabric fund**
Each year the trustees evaluate the required level of the fabric fund taking into account expenditure, inflation and future costs.
## **10 Designated educational charity fund**
During the year there has been no movement in the fund.
## **11 Movements between funds**
|Unrealised gain on property revaluation
Unrealised investment profit / (loss)
Unrestricted revenue accumulated funds
Total undesignated funds
Designated fabric fund
Designated educational charity fund
Total designated funds
Total funds|Net
Unrealised
Transfer
1.4.2024
outgoing
investment
between
31.3.2025
resources
gain
funds
£
£
£
£
£
5,748,869
-
-
-
5,748,869
160,450
-
4,989
-
165,439
71,039
35,872
-
-
106,911
5,980,358
35,872
4,989
-
6,021,219
297,098
-
-
-
297,098
4,000
-
-
-
4,000
301,098
-
-
-
301,098
6,281,456
35,872
4,989
-
6,322,317|
|---|---|
Page 10
## **The Lady Margaret Hungerford Charity**
## **Independent Examiner’s Report**
Independent Examiner’s Report to the Trustees of The Lady Margaret Hungerford Charity
We report to the trustees on our examination of the accounts of the Lady Margaret Hungerford Charity for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act")
We report in respect of our examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act, or
2. the accounts do not accord with those records, or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in the report in order to enable a proper understanding of the accounts to be reached.
## Jahanzab Arshad
Easy Accounts & Tax Ltd
Chartered Accountants C/O Easy Tax
510 Bristol Business Park
Bristol
England
BS16 1EJ
Date: 05/08/2025