Charity Reglstratlon No. 264012
DR & MRS CHADWICK'S REGISTERED CHARITY
TRUSTEES, REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023

DR & MRS CHADWICK'S REGISTERED CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
rs D P Abbott
Mrs J M Barlow
Canon Dr C Bracegiidle
Miss E Gelling
Mrs K Hodgkiss
Mr l Tomkin
Chairman
Mrs D P Abboll
Secretary
Mr K M Brophy
Charlty Number
254012
Auditors
Barlow Andrews LLP
C8rlyle House
78 Chodey New Road
Bolto
BL14BY
Banke15
The Royal Bank of Scollancl Pl¢
24 Deansgal8
Bolton
BL11BN
Sollcltors
Fieldings Porter
Silvetwell House
Silverwell Street
Bolton
BL1 IPT
Agents
RPS Housing Limited
Hamill House
112-116 Chorloy New Road
Bolton
BL1 4DH

DR & MRS CHADWICK'S REGISTERED CHARITY
CONTENTS
Page
Trustees, report
Independent auditor's rèport
statement of financial acliwties
BalanGe sheet
Statement of cash flows
Notes lo the accounts
10-20

DR & MRS CHADWICK'S REGISTERED CHARITY
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present their ¥eport and accounts for the year ended 31 December 2023.
The accounts have been prepared in accordance with the accounting policies sel out in note 1 to the financial
slalemenls and comply with the Gharily's Trust deed, the Charities Act 2011 and 'Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their aGcounls in accordance with
the Financial Reportsng Standard applicable in the UK and Republic of Ireland IFRS 102} leffeclive 1 January
20191"
structure, governance and management
The Charity was founded by Dr & Mrs Chadwick by a Deed dated 1 June 1868 and is subject lo a Scheme dated 12
May 1977 approved and established by the Charity Commission.
The object of the Charity is the provision of h()uses for lelling on weekly tenancies lo persons of good chaiacler who
aTe in Gondilions of need. hardship or distress.
The Scheme d8led 12 May 1977 directed that the TrLJStees shall establish and maintain an Extraordinary Repair
Fund for the purpose of providing for the extraordinary repair, improvement or re-building of property. This is the
Designated Fund referred lo in the accounts anLf is unreslricled.
On 5 January 1994 the Charity Commissioners directed that the Extraordinary Repair Fund shall be maintained by
the transfer to it. out of the Charily's income, of such annual sum sufficient for the purposes of the Fund.
On 23 January 1990 permission was granted by the Charity Commissioners lo sell the Peabody Street propertios.
The Trustees have used the proceeds lo purchase houses in Dorset street in order to increase the stock of family
house5 nearer to the majority of the existing housing stock.
On 28 May 2002 the Charity Commissioners approved a Scheme which enables the Tfustees lo apply residual
income for the benefit of the objects of The Chaifvlick Educational Foundation.
The Trustees who seNed during the year were..
Mrs D P Abboll
Mrs J M Bailow lappoinled 23 May 20231
Canon Dr C Bracegirdle
Miss E Gelling
Mrs K Hodgkiss
Mr P d A Liplroll Irelired 23 May 2Q231
Mr l Tomkin
The skill requirements for the Trust Body are reviewad and any vacancy aTising is filled by Consensus amongst the
remaining Trustees to meet the necessary Grilelia. The induction pro¢ess for any newly appointed T¥ustee
comprises an initial meeting with Ihe Chair followed by meetings with the Se¢rel8ry lo the Trustees who provides a
history of the Trust, a copy of the Dee(J, Trustees minutes and explariations as lo the day lo day organisalion of the
secretarial funcb'on. The new Trustee is given copie5 of the relevant Charity Commission Guidance.
All the Tiuslees of Dr & Mrs Chadwick's Registered Charity are also Trustees of the Chadwick Educational
Foundation. a grant making charity for the benefit of Bolton schools. schotsl children and students. Meetings lake
place at least twice a year lo review the Charity's financial matters and general operating management.
The freehold endowment housing slock comprising 43 properties is registered al the Land Registry In the name of
The Official Custodian ol Charities on behalf of Dr & Mrs Chadwick's Charity.
The remaining 67 endowment properties and 11 unreslricled fund properties are leasehold and are also registered
al the Land Registry in the n8me DI The Official Cuslodian of Chaiilies on b¢half of Dr & Mrs Chadwi¢k's Charity.
The Charity's investments are held in the names ol Mrs D P Abboll and Mis K Hodgkiss as nominees.
RPS Housing Limited has been delegated by the Trustees lo deal with the day lo day management of the Charity.
The principal office of the Charity is Hamill House. 112-116 ChoTley New Road, Bolton, BL140H.
Rlsk Factors
The Trustees have assessed the major risks to which the Charity is exposed and have taken Step5 to miligale them,
with public liability and property insurance.

DR & MRS CHADWICK'S REGISTERED CHARITY
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Related Partles
All the Trustees ol Dr & Mrs Chadwick's Registered Charity are also Co~oplative Trustees of The Chadwick
Edu￿tIonal Foundation, a grant making charity for the benefit ol Bolton schools, school children and studenis.
Oblectlves and activities
Th? object of the Trust is the provision of housing for the poor of Bolton. The Trust owns 121 houses in The Haulgh
area of Bolton on which il Charges rents between £101.25 and £122.88 per week based on the size of the property.
Prospe¢live lenanls complete an application fomi and are interviewed by a sub-committee. Suitable tenants are
then placed on a wailing list. The tenants generally remain for many years and vacancies are therefore not
numerous. The Truslees buy suitable properties using surplus income to add to thu housing stock in the immediate
area of the existing houses.
Public benoflt statement
The Charity'5 a¢livilie5 focus on thè objective lo provide disadvantaged people in Bolton with housing to improve
their living wndibons and are undertaken to further the charitable purpose for the public ben&lil.
The Trustees have paid due regard lo guidance issued by the Charity Commission in relation lo activities lor the
public benefit in deciding what activities the Charity should undertake.
Achievements and performance
The Trustees held three meetsngs during the y$8r.
In 2021 the Truste85 Gonsid?red the new regulations coming into force in 2025 regarding the EPC iatlng of renled
accommodations. In 2022 EPC surveys were taken of most the properties. In most cases the properties a¢hieved
C r81ing. Action was taken in respect ol the D ialed properties by adding loft insulalion and in some cases replacing
the boiler. However, further a¢lion was required with the even numbered properties in Portugal Slreel. A surveyor
was instructed and il was recommended that the roofs should be replaced to incorporate solar panels and a layer of
insulation below, together with exlernal wall insulation for the end houses. The project was pul out lo lender atKS the
work started in March 2023. After work was completed EPC ratings of C or above were achieved.
The cost of EPC rating reports, replacement roofs. insulation and solar panels came lo £352,173 and was fundod
from Unrestricted funds. The Government reversed their position with regard lo EPC ratings and the proposed
regul81ions will not now be implamenled.
During the year 2 new kitchens and 5 boilers were installed in the properties
Extensive repairs are being
undèrtaken at 2 properties which started towards the end of the year and the chimneys in May Sl were removed.
At a meoling on 25 March 2022 il was decided that 11 Glosler Street would be pul up for sale. The Property sale
was finally completed in February 2Q23.
ivlonitorlng achievement
The Trustees consider that rental arrears are controlled. Al 31 DecembeT 2023 the arrears were 4.21 % of the total
rents colleclable12022- 3.82Dk).
The void pertods are controlled 8nd kept lo a minimum.
The demand for properties from prospective tenants remains buoyant.
Flnanclal review
The Trustees agreed lo not give a donation lo The Chadwick Educational Foundation. a grant making charity, due
to the ongoing renovation project.
Rental income for the year was £622,469. The rent arrears al 31 December 2023 were £26,740 which is an
increasè of £5,242 on those at 31 December 2022. Rents are due every four weeks resulting in 13 rent periods
during the year. Rents paid in advance at 31 Decembèr 2023 were £6.437 which is a decrease of £1.380 on last
year. Sorne tenants prefer lo make payment of rent monthly rather than four-weekly which results in payments
being in advance al the year end. There will be two rent days in September 2024 after which lime il is envisaged
the rent in advance will be Considerably reduced.
The Trusleas decided lo maintain a balance of £175,000 in the bank lo meet general maintenance. The excess
over this amount IF536,000} was transferred lo the Extraordinary Repair Fund for future major projects such as roof
replacement.

DR & MRS CHADWICK'S REGISTERED CHARITY
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
The Extraordinary Repair Fund is invested CCLA units. A cheque for £536,000 was issued lo CCLA Its purchase
further units in Dècember 2023, Unfortunately, Royal Bank Df Scotland failed lo honoLEr the cheque. The Charity
has an ongoing cornplaint with Royal Bank of Scomand regarding this maller.
The free reserves of the Charity al 31 December 2023 were £849,27612022.' £810,094).
Resgtv8s policy
The Trustees consider the amount of reserves necessary lo maintain the housing stock in good ordei. An amount
of approximately c>ne year's ordinary expenditure and the Extraordinary Repair Fund are Considered adequate lo
satisfy this requirement. Cash reserves are also need8d to purd)ase any suitable houses which come for sale in
The Haulgh.
There are no reslri¢lions in the Charity's PDwer to invest. Tha Trustees are Iherefore govern&d by the Trustee Act
2000 which is enshrined in law a stalulory duly Df care.
Ethical considerations form part of the Truslees investment management process. This policy is applied lo a11
classes of asset under managem8nt in¢luding securities, land and real esl?le.
Plans for the future
The Trustees intend lo continue lo maintain the houses lo a reasonable standard. They have commissioned a
report from Galely Vinden Limited lo identify lulure large-scale mainlen8nc& such as roof ieplacemenl. These will
be funded from the inGreased resources allocated during the year to the Extraordinary Repair Fund.
statement of Trustees responsibilities
The Trustees are responsible for preparing the Trustees, Report arid the financial slalemenls in accordance with
appliGable law and United Kingdom Accounting Standards including Financial Reporting Standard 102.. The
Financial Reporting Standard applicable In the UK and Republic of Ifeland (United Kingdom Generally Accepted
Accounling Praclicel.
The law appllcable lo charities in England & Wales requires the Ttuslees lo prepare financial slalemenls for each
financial year whi¢h give a true and fair view Df the slate of affairs of the Charity and ol the income and expenditure
of the Charity for that period. In preparing these financsal slalemenls, the Trustees are required lo..
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP.,
make judgments and accounting eslimales that are reasonablè and prudent.,
stale whether appliGable accounting slandaids have been followed, subject lo any materlal departures
disclosed and explained in the financial slatemenls. and
prepare the financial statements on tha going concern basis unless il is inapproprlale lo presume Ihal the
Charity wll ¢onlinue in business.
The TrLJsle6s are responsible for maintaining proper a¢counlirig records which disclose with reasonable acGuraGy at
any lime the financial position of the Charity and enable them ID ensure that the financial statements comply with
the Charities Act 2011. the Charity {Accounls and Reports) RegLilalion8 2008 and the provisions of the trust
deedlconslilulion. They are also respDnsible for $8f@guarding the assets of the Charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
I declare. In my capacity of Charity Trustee Ihal..
the Trustees have approved the report above.. and
have aulhorised me lo sign il on their behalf.
D P Abbott
airman

DR & MRS CHADWICK'S REGISTERED CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF DR & MRS CHADWICK'S REGISTERED CHARITY
Oplnlon
We have audited the financial slalèments of Dr & Mr8 Chadwick's Registered Charity for the year ended 31
Decemb&r 2023 which comprise the slalemenl of financial activities. the balance sheet, the slalement of cash flows
and notes lo the fi'nancial slaterllenls, including a summary of significant accounting poli¢i@s. The financial reporting
framowork that has been applied in their preparation is applicable law and United Kingdom Acwunling Standards,
including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland {Uniled Kingdom Generally Accepted Accounting Praclicel.
In our opinion the financial slalemenls..
give a true and fair view of the slate of the charity's affairs as at 31 December 2023 and ol ils incoming
resources and applicatson ol resources, for the year then ended.,
have been properfy prepar&d in accordance with the United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for oplnlon
We conducted our audit in accordance with Inlemalional Standards on Audlllng IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditor's r&sponsibili118s lor the audit of
the financial statements section of our report. We are independent of the charity in aGGordan¢e with the ethical
requirem&nls that are relevant lo our audit of the financial slalemenls in the UK. including the FRC'S Ethical
Standard, and we have fulfilled our other ethi¢31 responsibilities in accordance with these requirements. We believe
that thè aL¢dit evidence we have obtained is suflicienl and appropriate lo provide a basis for our opinion.
Concluslon5 relatlng to golng concern
In auditing the financial slalements, we have concluded that the Iruslees, use ol the golng concern basis of
accounting in the preparation of the fin8nci81 statements is appropriate.
Based on the work we have performed, we have not identified any rnalerial uncertainti8s relaling to evènts or
conditions that, individually or collectively, may ¢asl $ignific2nt dDubl on the company's abilily lo continue as a going
¢oncern for a period of at least twelve months from when the financial statements are aUtho￿Sed for issue.
Our responslbllllles and responsibilities of the tiuslees with respect to gtsing concern are described in th& rtslevant
sections of this report.
Other informatlon
The other inlormalion comprises the infDrmalion included in the annual report. other than the financial slalemenls
and our auditor's report thereon. The Iruslees are responsible for the other inlormation contained within the arnnual
r¥port. Our opinion on the financial slatemenls does not Gover the othe¥ information and, except to the èxtènt
olhemtse explicitly slated in our report, we do not express any form of assurance conclusion Ihereon.
Our responsibility is lo rtsad th& other information and. in doing so. Gonsider whether th¢ other information is
materially inCDnsislenl with the financial slalemenls or our knowledgè obtained in the course ol the audit, or
olherw¢se appears to be materially misstated. If we identify such material in¢onsislen¢ies or apparent material
mlsstatemenls, we ale required lo determine whether this gives rise lo a material misslatemenl in the financial
slalements themselves. If, bas?d on the work we have performed. we conclude that there is a material
misstatement of Ihis other infomialion, we are required lo report that fact.
Vve have nolhlng lo report this regard.
Matters on whlch we are requlrod to report by exception
In light of the knowledge and understanding of the charity and its environment obtained in the course tsf the audit.
w8 have not identified material misslatemenls in the Iru51ees' report.
Wtr have nothing lo report in r@spect of the following mallers in relation lo which the Charities Act 2011 requires us
lo report lo you if, in our opinion..
adequate accounllng records have not been kept, or returns 8daquate for our audit have not been TeGeived
from branches not visited by us. or
the financial slalemenls are not in agreement with the accounting 16cords and returns., or
certain disclosures of Iruslees, remuneration specified by law are not made., or
we have not received all the information and explanations we requiro for our audit,

DR & MRS CHADWICK'S REGISTERED CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF DR & MRS CHADWICK'S REGISTERED CHARITY
Responslbllities of the Trustee$
As explained more fully In the statement of Irusle?s' responsibilities, the trustees are responsible for the preparation
o* the financial slalemenls and for being saliBfied that they giv@ a true and fair view, and foi such internal control as
the Iruslees deleimine is neGessary lo enable the preparation of finan¢ial slalemenls that are free from material
misstalemenl, whether due lo fraud or error.
In preparing the financial slalemen15, the Irus1&6s are responsible for assessing the d)arity's ability lo Continue as a
going concem, disclosing, as applicable, maller8 related lo going ¢on¢ern and using the going concem basis of
accounting unless the IrLJslees either intend lo liquidate the charity or lo cease operations, or have no realistic
allernalive but lo do so.
Audltor's responslbllltles for the audit of the flnanclal statements
Our objeclivos are lo obtain reasonable assurance about whether the financial statements as a whole are free from
material misslalemènt, whèlhgr due to fraud or erior, and lo issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a material tnisslalement when it exists. Misslalemenls can arise from fraud or
error and are Considered material if, individually or in Ihe aggregate, they could reasonably be expected to infiuence
the economic decisions of users taken on the basis of these financial 51alements.
Irregularities, including fraud, are instancès of non-CDmpliance with laws and regulations. We design procedures in
line with our responsibilities. outlined above, lo dele¢l material misslalements in respect of irregularities including
fraud. Our approach lo identifying 8nd assessing the risks DI material misstatement in respect Df irregularities,
including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team ¢olleclively had the appropriate competence,
capabilities and skills to identify 01 r@cognise non-complian¢e with applicable laws and regulations.,
we identified the laws and regulations applicable lo the charity through discussions with Iruslees and other
management, and from our Bommer¢ial knowledge and experience of the Charity se¢tor,'
we focused on specific laws and regulations which we ¢onsidered may havè a direct material effect on the
financial statements 01 the opeialions of Ihg charity, including data protection, employment. environmental
and health and safely legislation.
we assessed the exlenl of Gompliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence,. 2nd
id8ntilied laws and regulations were communicated within the audit team regularly and the team remained
alert lo instances ol non-compliance throughout the audit.
We assessed the susceptibility of the charity's fi'nanGial staletnenls to material misstalemenl, including obtaining an
understanding of how fraud might occur, by..
making enquiries of management as lo wherè they considered there was sus¢eplibilily lo fr8ud, their
knowledge of actual, suspected and alleged fraud-, and
¢onsidering the internal controls in place lo mitigate fisks of fraud and non-compliance with laws and
regulations.
To address the risk ol fraud through management bias and override of controls, we:
performed analytical procedures lo identify any unusual or unexpeeled relationships.,
tested journal @nlries to identify unusual Iransaclions., and
assessed whether judgements and assumptions made in detèrmining the accounting 8slimal&s were
indicative or pc>lenlial bias.
In rosponse lo the risk of iiregularilies and non-complian¢e wlh laws and wgulalions, we designèd procedures
which included, bul were not limited lo..
agreeing financial statement disclosures lo underfying supporting documentation.,
reading the minutes Df meetings of those ¢harged wtlh gov8rnanc8'.
enqLiiring of management as lo aclLJal and potential litigation and claims,. and
reviewing correspondence with relevant regulators and the company's legal advisors.
There are inherent limilalions in our audit procedurès described above. The more removed that laws and
regulations are from financial Iransaclions, the less likely il is that we would be¢ome aware of non-compliance.

DR & MRS CHADWICK'S REGISTERED CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF DR & MRS CHADWICK'S REGISTERED CHARITY
Auditing standards also limit the audit proceduTes required lo identify non-compliance with laws and regulallons lo
enqulry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misslatemenls that arise due lo fraud can be harder to delecl that those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial slalemenls is located on the Financial
Reporting Coun¢iS's website al.. ww.Irc.or
.uklaudolorsres
onsibililies. This description forms part of our auditor's
report.
Use of our report
This rèport is made solely ID the charity's Iiuslees, as a body, in ac¢ordan¢e with Part 4 of the Charities IAc¢ounts
and Reports) Regulations 2008. Our audit work has been undertaken so th81 wè might slate to the charity's
Iruslees those mallers we are requi¥e(f lo slate lo them in an auditor's report and for no other purpose. To the
lullesl exlenl permitted by law. we do not accept or assume responsibility to anyone oth8r than the charity and the
charity's Iruslees as a body. for our audit work, for this report, or fo¥ the opinions we have formed.
David Kay (Senlor Statuto
ditorl
for and on bohalf of Barlow Andrews LLP
Chartered AGGot4lltants & Statutory Audltor
Carlyle House
78 Chortey New Road
Bolton
BLI 4BY
Barfow Andrews LLP Is ellglbl& lo act as an auditor in terms of section 1212 of the Companies Acl 2006

DR & MRS CHADWICK'S REGISTERED CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestricted Designated Endowment
Fund5
Funds
Funds
Total
2023
Total
2022
Notes
Income and endowm8nts from:
Income from investments
10,506
10,505
2,204
ChaTilable aGllvilies
622.469
622,469
563,740
Other incoming resources
40,93S
40,935
Total income
673,909
673,909
565,944
Expenditure on:
Charitable aGtivilies
719,927
719,927
319,253
Total expondlture
719,927
719,927
319,253
Net Income I gxpenditure
146,018}
46.018
246,891
Unrealised Gains (Losses) on
investments
11
19.097
q 9,097
115,2661
Unrealised loss on disposal of langiblo
fixed assets
13
161,7971
51,7971
Revaluation of tsngiL4e fixed assets
13
34,960
84,900
119,860 1,331,400
Transfers between funds
1536,0001
536,000
Net movement In funds
1598,8651
555.097
84,900
41,132 1,562,826
Fund balances al 1 January 2023
1,971,669
154,375
12.954,000 15.080.044 13,517,218
Fund balances at 31 Decembèr 2023
1,372,804
709.472
13.038,900 1 $.121,176 15,D80,044
The breakdown of the 2022 figures between the un￿striCted and endowment funds ar6 in no16 17 on pages 17-20.

DR & MRS CHADWICK'S REGISTERED CHARITY
BALANCE SHEET
AS A T31 DECEMBER 2023
2023
2022
Notes
Fixed Assfrts
Tangible assets
Investments
14,271,900
173,472
14,445,372
14,269,950
154,375
14,424,325
11
Current Assets
Debtors
14,150
707,635
721,785
14.973
Cash at Bank and In Hand
12
688.918
703.891
Curretr)t Llabllltles
Creditors
10
145,9811
{48,1721
Nat Current Assets
675,804
655,7f9
15,080,044
Total Net Assets
15,121,176
The Funds of the CharSty
Endowment FLJnds
15
660,570
660,570
12.293,430
Endowment Funds Revaluallon Reserv
12,378,330
13.038,900
12,954,000
Designated Funds
Designated Funds Revaluation Reserve
15
610,443
99,029
74,443
79.932
709,472
154,375
Unreslricled Funds
15
734,142
638,662
1,316,160
655,509
Unrestricted Ftjnds Revaluation Reserve
q.372,804
16,121,176
1,971,869
15.080,044
Total Charity Funds
The accounts were approved by the Trustees on .2.3
D P Abbott

DR & MRS CHADWICK'S REGISTERED CHARITY
STATEMENT OF CASH FLOWS
AS A T 31 DECEMBER 2023
2023
2022
Notes
Cash flows from operatlng activities
Cash generated from operations
198,826
216,655
Investing actlvltles
Proceeds from sale of fixed asset
107,038
Plirchase of investments
Investment interest received
10,50S
2,204
Net cash (used in}1 genèrated from investlng actlvltl&s
117.543
2,204
Net increaselldecrease} In cash and cash equlvalents
18,717
218,859
Cash and ¢ash equivalent brought forvard
688,918
470.059
Cash and cash equivalent carrled forward
707,635
688,918

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS
AS A T 31 DECEMBER 2023
1 Accounting pollcles
1.1 Basis of preparatlon
Thè accounts have been prepared in accordanc& with the Charitys Trust deed, lh8 Charities Act 2011 and
"Accounting and Reporting by Charities.. Slalemenl of Recommended Practice appliGable lo charities preparing their
8cGounls in accordance with the Finanual Reporting Stsndard applicable in the UK and Republic of Ireland IFRS
1021 {effective 1 January 20191" The Charity is 8 Public Benefit Enlily as defined by FRS 102.
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl
required ID provide a true and lair view. This departure has involved following the Statement of Recommended
PraGtiGe lor charities applying FRS 102 issueol in October 2019 rather than the Accountlng and Reporting by
Charities.. Statement ol Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The accounts are prepared in steding, which is the functional Gurrency of the Charity. Monetary amounts in these
rinancial statements are rounded lo the nearest £.
The accounts have been prepareLI under the historical CDSI convention modified lo include the revaluation ol certain
fixed assets, which are shown 81 market value. The accounts includè all Iransaclions, assets liabilities for
which the Charity is responsible in law.
1.2 Golng concern
Al the lime of approving the a¢¢ounls, the Trustees have a reasonable expectation that the Charity has adequate
resources lo continue in operational existenGe for the foreseeable future. Thus, the Trustees continue lo adopt the
going concern basis of accounting in preparing the accounts. There are no material uncertainties about the
Charity's ability lo contlnue.
1.3 Funds
Endowment funds are funds which the capital musl be maintained., only income arising from investment of the
endowment may be used either As reslricled or unrestricted funds depending upon tho purpose for which the
endowment was established. The Endowment Fund is the original monies given for the ¢onslruclion of the
properties, together with the surplus on the dispDsals of the Peabody Street properties which has been reinvested in
properties in Dorsel Street, monies expended on the conversionslmajor alleralions ol a permanent nature, and
unrtsalised gainsl{losses} on properties.
The Designated Fund is the Extraordinary Repair Fund and is unreslriclecl. 11 was established by the Scheme dated
12 May 1977 to provide for the extraordinary repair. improvement and re-building of property, The Trustees
consider the balance of the fund to be adequate al Ihls lime.
Unreslricled funds are funds which are expendable al the discretion of the CTroplalive Trustees in furtherance of
the objects of the Charity and is the sum of the Charity's surplus income over the past 155 years.
Unrealised gainslllossesl on investments includlng properties purchased NvÈih surplus income are added lo
Isublracled from) the fund which held the asset.
1.4 Incomlny resource5
These are included in the Slalement of Financial Activities ISOFAI when..
1. the Charity becomes legally enti1Sed to the benelil of use ol the resources..
2. an inflow of economic benefit is probable., and
3. the monetary value can be measured with sufficlenl reliability.
Rents are included on the basis of recèipts during the year, To comply with the Charities Act 2C>11 rents receivable
should bè included. The Trustees do not consider this to be prudent. Renl paid in advance amounted lo £6.437
12022 £7,817), which has been includèd and deletred a¢cordingly in the accounts. Al 31 December 2023 rent
arr28rs amounted lo £26.74012Q22- £21,498).
Investment incom? is included on the basis of interest receivsble in the year.

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS AT31 DECEMBER 2023
1.5 R&sources expended
Liabilities are recognised as soon as an oulllow ol trconomi¢ benefit is probable.
Govèrnance costs indude costs of the prepaiation and examination of slalutory accounts, the costs of Trusl80s
meetings and cost of any legal advice lo Iruslees on governance or constilulional rnalleTS. All the governance costs
have been included in Charitable Activities as a whole rather than be appDrtioned.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-term liquid
investments wth Ofiginal malurilies of threè months or less, and bank overdrafts.
1.7 Fixed asset Investments
Fixed asset investments are initially tneasured at transaction price exduding transaction costs and afe subsequently
measured at fair value al each reporting dale. Changes in fair value are recognized in nel incomel{expendilurel for
the year. Transaction costs are expens&d a8 incurred.
1.8 Property
The properties are valued annually. Propèrti&s subject lo a PrOt￿ted Tenancy are $18led al 60¥0 of vacant market
value. Properties subject lo a Shorthold Tenancy are slated al 90UA of vacant market value
Properties are maintained primarily from current income. Exlraordlnary repairs and improvem8nlB are funded firslly
from ¢urrenl income and where ne￿$sary from the Extraordinary Repair Fund. The properties are maintained al a
high standard and have a useful life of at least 100 years. The properties are held al fair v81u& al the reporting and
dale. Any surplu5 or deficit on revaluation is recognised in the Slalemenl of Financial Aclivilies.
1.9 Flnancial Instruments
The Charity has e5ected lo apply the provisions ol Section 11 'Basic Financial Instruments, and Section 12 '01her
Financial Instruments Issues, of FRS 10210 all of ils financial inslrumenls.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party lo the
conlrattlual provisions of the instrument,
Flnancial assets and liabilities are offset. with the nel amounts presented in the financial slalemenls, when there is a
legally enforceable right lo sel off the recognised amounts and Ih8re is an ialenlion lo settle on a nel basis or to
rpalise the asset and sellle the liability simultaneously.
Basic flnancial as5et5
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price including transaction costs and are subsequently carried al amortised cost using the effective interest method
unless the arrangement conslilutes a financing Iransathon, where the Iranssclion is measured 81 the present value
of the future receipts discounted al a market rale of inte￿$1. Financial assets Classified as receivable within one
year are not amortised.
Basic flnancial IITabilities
Basic financial liabilities, including creditors and bank loans are initially recognlsèd al transaction price unless the
arrangement conslilutes a financing Iransaclion, where the debt instrument 15 measured al the present value of the
future payments discounted al a market rale of interest. Financial liabilities classified as payable wlhin one year are
not amortised.
Debt instruments are subsequently carried at amortlsed wst, using the effecllve interest rale method.
Trade creditors are obllgalions lo pay for goods or services that have been acquired in the ordinary course of
operalic>ns from supplieis. Amounts payable are classified as ¢urrenl liabilities if payment is due within one y&ar or
less. l* not, they are presented as non-currenl liabilities. Trade creditors ale recognised initially at transaction price
and subgequenlly measured al amortiged cost using the effective interest method.
Derecognition of fiTnanolal liabilities
Financial liabilities are derecognised when the Charity's conlraclual obllgalions expire or are discharged or
cancelled,

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 31 DECEMBER 2023
2 Invèstment Income
Total
2023
Total
2022
Interest receivable
10,SOS
2.204
3 Income from charitable actlvltles
Total
2023
Total
2022
Rents
622.489
563,740
4 Other Incoming resources
Total
2023
Totsl
2022
Nel gain on disposal of tangible fixed assets
40,935
S Expenditure on charliable activitles
2023
2022
Costs relating lo charitable activities comprise..
Legal and professional fèes
2,331
3.586
Structural survey reports (Unrestricted Fund)
11,880
3,785
Structural survey reports (Designated FLJndl
41.706
Ground rent
135
196
Property valuation fee
450
400
Insurance
34,805
35,359
Unoccupied house expensès
4,696
2,194
Agent commission
77.636
70,669
Repair and maintenance IUnreslri¢ted Fund)
672.249
145,852
Repair and maintenance IDesignal8d Fund)
95D
Postage and stationery
245
264
Secretary's fee
10,751
10,278
Auditor's remuneration
4,590
3,732
Bank charyes
20
Sundry expenses
139
292
719,927
Governance costs includes payments lo the auditors of £4,59012022 £3,732) for audit fees and £O12022- £01 for
other services.
319,253
12

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 31 DECEMBER 2023
6 Trustee5
None of the Tnjstees {or any persons connected with them) received any remuneration or benefits from the Charity
during the year.
7 Employees l Kay Personnel
RPS Hou8ing Limited has baen delegated by th6 Trustees lo deal with the day lo day management of the Charity,
8 Related partles
All the Truste8s of Dr & Mrs Chadwick's Registered Charlly are also C(koplaliv8 Trustees of The Chadwick
Educational Foundation. a grant making charity for the benefit of Bolton schoo15. school children and students. Due
to the extensive renDvalion program which occurred in 2023, the Trustees ol Dr & Mrs Ghadwi¢k's Registèred
Charity decided not lo give a donalic>n lo Chadwick Educational Foundation in 2023.
9 Debtors
2023
2022
Pfepaymenls and accrued income
14,150
14,973
10 Creditors
2023
2022
Trade creditors
885
257
Accruals and deferred income
45,096
47,915
45,981
48,172
11 Fixed asset Investments
Deslgnated
Incomp
Investments
Colf Accumulatlon Shares
Market value a11 Jar4uary 2023
154,375
Disposals al opening book valuo
Acquisitsons al cost
Change in value in the year
19,097
Markèt value at 31 December 2023
173,472
Hlstorical cost..
Al 31 December 2023
74,443
Al 31 De¢embeT 2022
74.443
The Charity's investments are held in the names of Mrs D P Abbott and Mrs K Hodgkiss as riomine￿.
13

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 31 DECEMBER 2023
12 Cash at bank and In hand
Unrgstrlcted
funds
Designated
funds
Endowment
funds
Total
Royal Bank of S¢Dlland PIC
171.627
538,OOC>
707.627
Furness Bulldlng Society
Cash
171,635
536,000
707,635
13 Tangible flxed assets
Freehold land & buildings
Shorthold
TenanGie$
Endowment
Fund
Protected
Tenancles
Endowment
Fund
Shorthold
Tenanclos
Unrestrlcted
Fund
Protocted
Tenancles
Unrestrlctgd
Fund
Total
Cost & valuation
At 1 January 2023
5,140,350
165,600
5,305.950
Disposals
Revaluation
Transf8rs
At 31 December 2023
5,140.350
165,600
S,305,950
Al 31 December 2022
5.140,350
165,600
5,305,950
Leasehold land & buildlngs
Shorthold
Tenancles
Endowment
Fund
Protected
Tènancles
Endowment
Fund
Shorthold
Tenancies
Unrostrlcted
Fund
Protected
Tenancles
Unrestricted
Fund
Total
Cost & valualiDn
Al 1 January 2023
5.974.650
1,673,400
1.248,050
69,900
8,964.000
Disposals
1117,9001
1117,9001
Revaluation
84,900
34.950
119.850
Transfers
169,800
11 $9,800)
69,900
169,9001
At 31 December 2023
6,229.350
1.503,600
1.233,000
8,965,960
Al 31 December 2022
5,974,650
1,673,400
1,246,050
69,900
8.964,000
14

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 31 DECEIWBER 2023
The historical Gosl of the Endowment Fund properties al 31 December 2023 was £660,57012022 - £660,570). The
historical cost ol the Unresliicled Fund properties at 31 December 2023 was £594,33812022 - £660,441).
The properties were valued at their market values of £13,038.900 for the Endowment Fund prDperties and
£1 233,000 for the Unreslricled Fund prtspèrti8s al 31 December 2023 by Messrs Joseph Jackson & Sons
CharteTed Surveyors giving a total value of £14.271,900. The valuations r6flecl thg different types of tenancy and
was 85.030h of the open market valuations.
Al 31 December 2023, there were twanly Endowment Fund houses and no Unrestricted FU￿ housès occupied by
tenants who enjoy protected lenancies12D22- Iwenty-two Endowment, one Unrestri¢tedl.
Aller 6 May 1997, new tenants have bean hous@d on shorthold tenancies. Al 31 Decèmber 2023 there were eighty-
eight Endowment Fund houses and eleven Unreslricled Fund houses occupied by SLFch lenanls,
12022
eighty-six Endowment, len Unreslricledl and these houses have been valued at a percentage of open
malkel value.
Al 31 December 2023 ther& w?re two unoccupied Endowment houses and no Unreslricled house which has been
valued al a perGenlage Df open market value12022 - two Endowm8nl, one Unreslrictedl.
The frèehold endowment housing stock comprising 43 properties is registered at the Land Registry in the n8me of
The Official Custodian ol Charities on behalf of Dr & Mrs Chadwick's Charity.
The remaining 67 endowment properties and 11 unreslricled fund propetties are leasehold and are also registered
81 the Land Registry in the natlle of The OffiGial Custodian of Charities on behalf of Dr & Mrs Chadwick's Charity,
14 Analys1$ of net ass&ts between funds
Unrestrlcted
funds
Deslgnated
funds
Endowment
funds
Total
Fund balances al 31 December 2023
are represented by..
Tangible fixed assets
1,233,000
13,038,goo
14,271,900
Investments
173,472
173.472
Current assets
185,785
536.000
721.786
Creditors.. amoullls falling due within
one year
145,9811
145,9811
1.372,804
709,472
13,038.900
15,121,176
Unrealised gains included above..
On tangible fixed assets
838,662
12,378,330
13.018,992
On investments
99,029
99,029
638,662
99,029
12,378,330
13,116,021
Reconciliation of mov?menls in
unrealisod gains
Unrealised gains al 1 January 2023
655,5r19
79,932
12,293,43Q
13,028,871
Net gains on revaluations in year
116,8471
19.097
84,900
87,150
un￿alISed galns at 31 Decèmber 2023
638,662
99.029
12,378,330
13,116,021
15

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 31 DECEMBER 2023
15 Movement In funds
Balance at
1 January
2023
Movement in funds
Balance at 31
December
2023
Funds
Income
Expenditure Revaluation
84,900
Transfers
Endowment Fund
12,954.000
13,038,900
Designated Fund
154,375
19,097
536,000
709,472
Unraslricled Fund
1.971,669 e73,909
1719,9271
(18,847)
1536.0001
1,372,804
Total Funds
15,080.044 673,909
1719,9271
87,160
15,121.176
A transfer has beèn made lo the Designated Fund during the year amounting to £536.000 to fund future major
repair work such as roof replacement5 for the properties held by the ChaTIIy.
16 Cash generated from operatlons
2023
2022
Nel movement in funds
41,132
1,562,826
DeduGI investment income
(10.5061
12.2041
Deduct gainsladd back lossas on fixed asset cEisposals
Deduct uainsladd back losses on investments
140,9351
119,0971
15,265
Deduct revaluatson ol fix￿ assets
188,053)
{1,331,4001
Movement in working capital..
Ilncreaselldecrease in debtors
823
11.2271
IDecreasellin¢r2ase in c¥editors
12,1911
126,6051
198,826}
216.655
16

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T31 DECEMBER 2023
17 Comparativès for 2022
Statement of Finan¢lal Activltles
Unrestricted
Funds
Deslgnated
Funds
Endowment
Funds
Total
2022
Income and endowments from..
IneL)me from investments
2,204
2,204
Charitable activities
563,740
563,740
Total income
565,944
565,944
ExpendiluTe on..
Charitable activities
276,597
42,656
319,253
Donation
Total expenditure
276,597
42,e56
319.253
Nel income l expenditure
289,347
(42,65ei
246,691
Unrèalised Gains {Lossesl on investments
115,2851
115,2651
Revaluation of tangible fixed assets
120,150
1,211,250
1.331,400
Transfers bebNeen funds
142,6561
42,656
Nel moverllenl in funds
366,841
115,2651
1,211,250
1.562,826
Fund balances at 1 January 2022
1,604,828
16g,640
11.742,750
13,517,218
Fund balances al 31 December 2022
1,971,669
154,375
12.954,000
15,080,044
Cash at bank and in hand
Unr8strictÈd
funds
Designatèd
funds
Endowment
funds
Total
Royal Bank of Scotland PIC
484.965
484,965
Furnèss Building Society
203.945
203,94S
Cash
688,918
688,918
17

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 310ECEMBER 2023
17 Comparativès for 2022 continued
Tanglble lixed assets
Freehold land & bulldlng$
stiorthold
Tenancieg
Endowment
Fund
Protocted
Tenancies
Endowment
Fund
Shorthold
Tenancies
Unrastricted
Fund
Protectsd
Tgnancles
Unrestricted
Fund
Totsl
Cost & valuation
Al l January 2022
4,675,950
150,60D
4,828,550
Additions
Revaluation
464,400
1 5,000
479,400
TraNsf￿S
At 31 December 2022
5.140,350
165,600
5,305,950
Al 31 December 2021
4,675,950
150,600
4,826,550
Leasehold land & buildlngs
Shorthold
Tenancles
Endowment
Fund
Protected
Tenancies
Endowment
Fund
Shorthold
Tenancies
Unrestrlcted
Fund
Protected
Tenancies
Unrestricted
Fund
Total
Cost & valuation
At 1 January 2022
5.314,500
1,601,700
1,132,200
63,600
8.112,￿0
AddiliDns
Revaluation
573,150
158,700
113.850
6,300
852,000
Transfers
87,000
187,0001
Al 31 December 2022
5.974,850
1,673,400
1,246,050
69,900
8,964,000
Al 31 December 2021
5,314,500
1.601.700
1.132,200
63,60
8,112.000
The hislori¢al cost of the Endowment Fund propertles al 31 December 2022 was £660.57012021 - £6eo,5701. Th8
historical Cost ol the Unrttslricled Fund properties al 31 December 2022 was £660.441 12021 - £660.4411.
The properties were valued al their market values Df £12,954,000 for the Endowment Fund properties and
£1,315,950 for the Unroslricled Fund propertles at 31 December 2022 by Me58rs Joseph Ja¢kson & S(>ns
Chartered Surveyors giving a total value of £14,269,950. The valuations reflect the different types of len8ncy and
was 84.36% of the open market valuations.
18

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS (CONTINUED)
AS A T 31 DECEMBER 2023
17 Comparatlv85 for 2022 contlnued
Analysls of net assets betWè6n funds
Unrestricted
funds
Deslgiiated
funds
Endowment
funds
Total
Fund balances al 31 De￿mber 2022
are represented by..
Tangible fixed assets
1,315,950
12,954,000
14,269,950
Snveslments
154.375
154.375
Current assets
Creditors.. amounts falling due wllhin
one year
703,891
703.891
148.172)
148.1721
1,971,669
154,375
12,954,000
15,080,t144
Unrealised g8ins included above..
On tangible fixed assets
655,509
12.293.430
12,948,939
On investments
79,932
79,932
855,509
79,932
12,293,430
13,028,871
Reconciliation of movgmenls in
unrealised gains
Unrealised gains al 1 January 2Q122
535.359
95,197
11,082,180
11,712,736
Net gains on revaluations in yeaT
120,150
{15,265}
1.211,250
1,316,135
Unrealised gains 8131 DecembeT 2022
655,509
79,932
12,293,430
13,028,871
Movement in fun(Is
Balance at
1 January
2022
Movement In funds
Balance at 31
De¢ember
2022
Funds
Sncoma
Expenditure
Revaluation
Transfers
Endowment Fund
11,742,750
1,211,250
12,954,000
Oesignaled Fund
169,640
142.6561
115,2651
42,656
154,375
Unreslricled Fund
1,604,828 565,944
1276,5971
120,150
142.6561
1,971,669
Total Funds
13,517,218 565,944
1319,2531
1,316,125
15.080.044

DR & MRS CHADWICK'S REGISTERED CHARITY
NOTES TO THE ACCOUNTS {CONTINUEDI
AS A T 31 DECEMBER 2023
17 Comparatives lor 2022 conllnued
statement of Cash Flows
Notes
2022
Cash flows from operating activities
Cash generated from operations
216,655
Investing aclivilies
Proceeds from sale of investment
Purchase of investments
Inveslrnenl interest receive
2.204
Net cash (used inll generated from Investing activities
2,204
Net increaselldècreasel in cash and cash equivalents
218.859
Cash and cash equivalent brought forward
470,059
Cash and cash equivalent carried forward
688.918
Cash generated from oporatlons
2022
Nel movement in funds
1,562,826
Deduct investment income
12,2041
Deduct gainsladd ba(* losses on investments
15,265
Deduct revaluation of flxed assets
11,331,400)
Movement in working capital..
{Increase}Idecrease in debtors
11,2271
(Decreasellincrease in creditors
126,6051
216,655
-20-