## **REPORT OF THE TRUSTEES OF BRIDGE ALMSHOUSES, MARPLE FOR THE YEAR ENDED 31 DECEMBER 2024** Bridge Almshouses is a Registered Charity (250677) and a Registered Social Landlord (A3049). The Charity is an Almshouse charity, providing accommodation for women in need living alone. The Charity operates exclusively within the wards of Marple North and Marple South, in the Metropolitan Borough of Stockport. The Charity’s Governing Instrument is a Scheme made by the Charity Commissioners on 16[th] January 2002. This provides for seven Trustees, of whom one Trustee is nominated by Stockport Metropolitan Borough Council, whilst a further four co-opted Trustees are appointed by the Trustee Body. The two remaining Trustees are appointed ex officio, one being the Incumbent of All Saints, Marple and the other being the Minister of the Methodist Church in Church Lane, Marple and the Minister of the United Reformed Church in Hibbert Lane, Marple, who shall hold office alternately for four years. The Trustees of the Charity are: Rev Daniel Currie (Chair from 1[st] March 2022 for four-year term) Deacon Jude Laycock (from 4[th] July 2024) William Riley Pauline Harrison Councillor Colin MacAlister Marion Jefferson Christopher Buckley The Clerk to the Trustees is Pamela Kirkpatrick. The Office of the Charity is 289 Longhurst Lane, Mellor, Stockport, Cheshire SK6 5PW. The Charity’s Bankers are HSBC Bank plc, 5 Great Underbank, Stockport SK1 1LH. The Charity’s Solicitors are Beightons Solicitors, St. Mary’s Chambers, St. Mary’s Gate, Derby DE1 3JA. The Charity, acting under powers contained in its Scheme and elsewhere approved by the Charity Commissioners, maintains two designated reserves: an extraordinary repair fund and a cyclical maintenance fund. These are invested in special range funds. The Charity’s endowment capital together with much of the extraordinary repair fund is invested in the National Association of Almshouses Common Investment Fund. More liquid funds are invested with the Charity’s Bankers. The Charity maintains an estate of 5 houses. The Trustees met three times during the year, one meeting in person and two meetings via video conferencing (Zoom). The Trustees decided that the Weekly Maintenance Contribution, from 1[st] January 2024, would increase to £69 a week, these contributions to be paid by monthly standing order. Signed: Rev Daniel Currie (Chair) Date: 13[th] February 2025 |||**Bridge Almshouses**|**Bridge Almshouses**|||| |---|---|---|---|---|---|---| |||**Income & Expenditure Account**||||| ||2023|**Year Ended 31 December 2024**||||| |£|£||||£|£| |||**Income**||||| |16900.20||Residential charges|(see note 1)||17940.00|| |0.00|16900.20|Voids|||1190.71|16749.29| |4404.35||Investment Income|||4738.20|| |2744.57|7148.92|Bank Interest|||3859.60|8597.80| ||24049.12|**Total Income**||||25347.09| |||**Expenditure**||||| |||**Property costs**||||| |988.81||Insurance|||902.54|| |2422.69||Repairs
Major||7827.00||| |609.48||Maintenance||737.75|8564.75|| |25.00||Gas& Electric|||162.40|| |0.00||Council Tax(net)|||471.35|| |450.00|4495.98|Inspection Charges|||565.00|10666.04| |686.90||Service charges|||1178.00|| |36.24||Office expenses|||103.41|| |201.75||Subscriptions & Fees|||287.00|| |325.00||Christmas gratuities,etc|||350.00|| |69.60|1319.49|Bank Charges|||71.60|1990.01| ||5815.47|**Total Expenditure**||||12656.05| ||18233.65|**Surplus for the year**||||12691.04| |||Transfer
Cyclical repairs reserve|||-5000.00|| ||-23053.67|Extraordinary repairs reserve|||0.00|-5000.00| ||-4820.02|**Revised surplus/Loss for the year**||||7691.04| |**Bridge Almshouses**
2023
**Balance Sheet as at 31 December 2024**
£
£ **Capital Employed**
£
Undesignated Funds
Income & Expenditure Account
82647.77
B/fwd 1 January 2024
64228.76
-4820.02
Surplus/Loss 2024
7691.04
-13598.99
64228.76
Trf. Investment Revaluation
0.00
Investment Revaluation
39147.13
B/fwd 1 January 2024
55077.35
2331.23
Unrealised Gain/Loss 2024
4498.71
13598.99
55077.35
Trf. Income & Exp. Account
0.00
Designated Funds
Cyclical Repairs Reserve
25000.00
B/fwd 1 January 2024
25000.00
0.00
25000.00
Trf. Inc.&Exp.2024
5000.00
Extraordinary Repairs Reserve
25000.00
B/fwd 1 January 2024
48053.67
23053.67
48053.67
Trf Inc.&Exp. 2024
0.00
**192359.78 Total Capital Employed**
**Employment of Capital**
Fixed Assets
Housing Properties
57450.00
Cost of Renovations
57450.00
-57449.00
1.00
Housing Corporation Grants
-57449.00
Investments
108544.48
B/fwd 1 January 2024
115209.42
4333.71
Accumulated Income 22024
4662.91
2331.23
115209.42
Change in Market Value 2024
4498.71
115210.42 Total Fixed Assets
Net Current Assets
3374.34
Cash at bank
2301.82
73053.67
CCLA deposit fund
83914.97
441.84
Debtors
Insurance prepay
460.70
279.51
Rent arrears
0.00
460.70
0.00
Accruals
-1500.00
77149.36 Total Net Current Assets
**192359.78 Total Employment of Capital**|£
71919.80
59576.06
30000.00
48053.67
**209549.53**
1.00
124371.04|£
71919.80
59576.06
30000.00
48053.67| |---|---|---| ||124372.04
85177.49
**209549.53**|| ## **Bridge Almshouses Notes to the Accounts Year Ended 31 December 2024** ## 1 **Rents** Rent for each property was £69 per week.No.139 was vacant for 4 months resulting in a shortfall in rent income of £1190. Rents are reviewed annually,from 1st Jan.2025 they will be £71 per week. ## 2 **Repairs** Major repairs this year included new fireplaces at each property. ## 3 **Housing Properties** The 5 almshouses date back to 1855 & there is no record of the original cost and no value is attributed thereto. The cost included in these Accounts relates to renovations which were funded by Housing Corporation Grants. In September 2020 the Trustees requested Batty France Ltd carry out a Valuation of the Properties. A Building Reinstatement Cost of £895294.21 was arrived at and has been used for Insurance purposes only. No adjustment for the Valuation has been made in these Accounts. 4 A further £5000 has been transferred to Cyclical Repairs Reserve. The total in the 2 Repair Reserves is now £78053.67. Amount on deposit with CCLA is £83914.97, including interest for the year of £3859.60. ## 5 **Investments** On 4 October 2019 the National Association of Almshouses Common Investment Fund was merged into the M&G Multi Asset Fund. No.of Shares is unaltered. There has been an increase in the market value of the Fund during the year of £4,498.71 |M&G Charity Multi Asset|Income|Accumulation|Total| |---|---|---|---| |Fund|Shares|Shares|| |Number of shares|1859|1013|2872| |Market value|||| |1st January 2024|1669.75|113539.67|115209.42| |Accumulated income|0.00|4662.91|4662.91| |Unrealised gain(loss)|55.96|4442.75|4498.71| |Disposal|||0.00| |Market value|||| |31st December 2024|1725.71|122645.33|124371.04| |Cost 1st January 2024|636.00|59496.07|60132.07| |Income re-invested||4662.91|4662.91| |Cost 31st December 2023|636.00|64158.98|64794.98| ## 6 **Accruals** - £1500 estimated costs of the last 2 fireplaces installed early 2025 CHARITY (OMMISSION FOR ENGLA1￿ WALES Independent examiners report on the accounts Section A Indepertdent Examiner's Report aporttr*tho trusts•8 OTr a￿￿n￿T0rth0y8lr 21 éff Sb2¢ ¢hqr]ty ng SBtoul on p40 I reFx*t to thg my ex¥nlnthn xcounts oftr*tho hatity I￿8 Trust") y8ar8rKI￿I 31 12 1 ft•¥pornlbllKlu b8¥1s of rep As the ¢hanty'sbwst808. you ar8 re8wn8tle I￿th$ Yeparat￿ 8ccwni8 kn aceth8￿ewtth the requlfements ofts Chth Act 2011 llhe A¢l"l. I report kl reskwtof my ex9min9tK￿ of tr*Tru￿S¥¢¢0Unts carf*d section 145 of the 2011 ActoTh1 in caryrgout my examinati￿. I hwe fd￿e￿ al thè aptyicablp D￿kn￿S ghff￿ ty IheCharNy CommL* undw 14515Xbl Act. knd•pè •x•rnlnerfs statomont uxlertake I ros5 InC0￿eeXce￿￿8g2SO.[th and l am qL￿180 to Ual￿led fflember of liwrt nameof l kne cornpbtsd my Examinabon. I c(￿rIr1￿ Ihal no materia matters hav CLYne to my in Connec￿ wrfh th&￿￿￿￿1vJn lothertrwn Ihat LISCk￿ ￿￿") whlch Jv88 me C8L* to in. any tnataTlal the acc(xr*ng rwdswere rKrtkeFrt h accrAd￿￿lth 130 of thè CharibÈS A¢ 8￿C￿}ts thy ￿t 8ccNd th$ 8cwJnVrffj r￿rdS., ( the ¥Gounts dk4 not comrjy with Ihe¥KrficaOb r8quir8m**s ¢owernirYJ the fomi and ¢onlentof 8¢c￿nIS ¥et In the Chwthe$ (Acc(￿nts ￿ Rewtsl Reg￿8￿on5 2008 otherthan any Nuir&n8nt that th&accounts gfva a and larf v* wfi¢h 1$ rw)ta tnatt£r (YI$Kie￿ 8$ Part of an Ir￿p￿rKlent exsminstw. I hwe no ¢￿¢¢m$*￿j havè c(Yng a¢rtssnoothgr mattaT5 In WI￿ th8 examin￿￿ lo which alLenbon *K)uhJ drdwn in rrfwxt in t*der lo enaLle a undet5taThJir¥ of the &courts to be react￿. . FI￿8 ds*lfy b)e tltslNxk*S rfth8y c*)rnI8￿. Slgned: qudfficatbnl*l OT ljody Ilf any): Fca IER Oct 2018 IFO Soction B Di5c105ure Oily cornplete Il examiner neert..... ￿.19￿19￿1 mEilprial ii?Èillvr% ii>nGcm ftttrxamrwsl. Bny Items Ihat the x•mlw wl¥h•s to IER ost 2018