REGISTERED CHARITY NUMBER: 255280 REPORTOF THE TRVSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 FOR FOTHER8Y ALMSHOUSE CHARITIES Duncan & Toplis Limited Oxley House Lincoln Wav Louth Lincolnshire LNIIOLS
FOTHERBY ALMSHOUSE CHARITIES CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JtINE 2025 Page Report oltheTru5tees Independent Eyaminer's Report St•ttment of Finanrial Actiwties Sttment of Flnanrial Posltlon Notes to the Finanrial Statemtttts 6 to 10 D¢tail¢d StHlemEnt ol Flnandal Adfvlti¢s li
FOTHERBY ALMSHOUSE CHARITIES REPORTOF THE TRUSTEES FOR THE YEAR ENDED 30JUNE 2025 The trustees present their report with the financial statements of the charity lor the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Reportin¥ by Charities.. Statement of Recornmended Practice applicable to ch3rities prÈparing thÈir accounts in accordance with the Financi31 ReportSn8 Standard applicable in the UX ancl Republic of Ireland IFRS 1021 leffective l January 20191. 08JEcfivES AND AcnviMES Significant activities rhe charity was e5tabli5hed by the late EvÈritt AllÈnby and endowed by him pursuant to his provision of Six altn5hou5e5 in the parish of Fotherbv in the County of Lincolnshire, in 1867. ThÈ trustees have since then continually maintained and enh3nced their provision of sheltered housing lor those qualifying for the scheme. In 2025 the net gain on investments was £12.55612024.' net gain of £19,229). Publlc benefrt In the furtherance of the objects of the £haiity, the Trustees have had due regard to Charity Commission general Euidance on public benefit. FINANCIAL AEVIEW Reserves pollcy The Trustees review the reserve levels of the charity annually. The charity'5 level ol free reserves at 30 June 202S wa5 £268,938. a sum that has accurnulated over rfiany years. The reason for reserves being 4£cumulated is to provide sufficient working capital to cover delays between 5pendinE and receipt ol tnonies and to provide a £ushion to deal with unexpected issues such as ur8ent maintenance and renovation work, the c05t of which can be significant. sTrucruRÉ, GOVERNANCE AND MANAGEMENT G¢)verniA8 doeyment The governing document Of rhe ¢harlty and its linked bodies is a scheme dated 22 July 1969 as amended by a schetne dated 13 July 1992. Induction and traininz ol new tntstees The training and induction provided for new Trustees will depend on their existing experience. Where n&¢esry, induction will provide tining on charity, legal and financial matters. All new Trustee5 are given the opportunity of 3 Vlslt to the Almshouses and the chance to meet with other TFUStees. All Trustees are provided with copies of policies, procedures, Ininute5, account5. budgets, plan5 and other docurnents that rhey will need to undertake their role as Trustees. As there are normally few nev4 Trusteès a year, induction tÈnds to be done informalw and Is tailored to the needs of the individual. Wlder network The con5tituent5 of the Fotherby Almshouse Charities are.. Fotherby Almshouses (charity number 225280-11 Fotherby Almshouses Allenby Endowrnent (charity number 225280-21 Fotherby Almshouses Furiher Endowment Fund (charity number 225280-31 John Allenby Co81 Fund Icharity number 225282-41 John Allenby Rep31r Fund (charity number 225280-51 John Allenby Beef and Flour Fund Icharrty number 225280-61 Rlsk management The trustees have a duty to identify and review the r15ks to which the charity is exposed and to ensure appropriaie contro15 are in place to provide reasonable assurance agèinst fraud and error. The Trustees hawE assessed the major risk5 to which the organisatlon is exposed, In particular those relaring to the provision of facilities to Almspersons and its finances. The Trustees have implemented a number of 5yStem5 to assess risks, especially in the operational areas le.g. in relation to property maintenance, 8nd the health and safety of AlmspÈrson51 and in relation to th@ control of finance. Monitoring systems and internèl financial controls have been introduced and uphÈld in order to minimise risk. Where significant financial risk still remains, the Trustees h3ve ensurÈd thÈy have adÈquatÈ insurance cover. PaEe I
FOThERBY ALMSHOUSECHARMES REPOIIT OFYHE TRUSTEES FOR THE YEAR ENDED 3OJU14E 2025 REFERENCE ANO ADMIPIISTRATIVE 0£TLs ReKislered th•rity nymber 255280 PrSndp•l 4ddr•s5 Mr J Crèwford 8 Lyfidon Crescent Louth Llncolnshire LNII 08J Trustees A S Pridgeon C Laking H M Stubbs MThornalley T Flunter Mrs L Thompson Mrs C Chen Ms D J Ensell lappointed 14.10.241 Ind¢ptnd¢rt Exarnlner Duncan & foplis Limited Oxley House LSncoln Way Louth Ilncoln5hife LNII OL5 EVENf5 SINCE ThE END OF THE YEAR Intormation lating to eveTrts slnce the end of the year is 8wen In the notes to the financial statements. App¥oved by order ol the board of trustees on........................... ................. and sigr*d on its behalf by.. TnJ5tee Page 2
INDEPENDENT EXAMINER'5 REPORT TO THE TRUSTEES OF FOTHERhY ALM5HOU5E CHAFIITIE5 Independent exarninEr's r*pDrt ttsthe tIU5tees of Fotherby Almsh¢)use Charlties I rep)rt fo the charlty trustee5 on rny exarninatlon of the accounts of Fotherby Almshouse Charities Ithe Trust) for the yearended 30JUe 2025. ftesponslbllitles and basls ol report As the charity trustees of the Trust you are responsible forthe preparation of the atcouTrt5 in accordance with the requirernents of the Charities Act 20111'the kt'l. I report in fespect of my emarnination of the Trust's accounts carried out under SectSon 145 of the Aci and in carrying out my examinatlon I have followed all applicable Directions given by the Charity Commission under 5ertlon 14515llbl of the Act. I1ePendent examiner's statement I have completed my exarnination. I confirrn that no rnaterlal matter5 have come to my attentlon In conpectlon with the e¥aminatlon glySni me cause to belleve that In any materlal respect.. accounting records were not kept in respect of the Trust a5 required by Sectiofi 130 01 the Act,. or the accounts do not accord wlth those records,. or the accounts do not comply with the appllcable requlrements concernsng the fofm and content of accounts set out in the Charsties (Accounts and Reports) Regulatlons 21Y18 other rhan any requirement that the acccunts give a true and fair vlew whlch is not a mètter considered as part of an indendefit examination. I have no con¢erns and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enable a proper understandlng of the accounts to be reached. Rachel 8arrett IFCCAI DuncJn & Toplis knmlted O¥ley House Lincoln Way Louth Llncolnshire LNII OLS 2910412028 Date.. Page 3
FOTHERBY ALMSHOLISE CHARMES STATEMENT OF FINANCIAL ACllVlllES FOR TME YEAR ENOED 30 JUNE 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Charf(able activhles Almspersons, maintenance and heating contribution5 Inet of voids of £Nill 27.798 27,798 26,257 Investment Income 3,106 3,106 2,933 Total 30,904 30,904 29,190 EXPENDITURE ON Charitable artlvttles Almshouse Costs 21,030 21,030 16,789 Net gains on investments 12,556 12,556 19,229 NET INCOME 22,430 22,430 31,630 RECONCIUAnON OF FUNDS Total funds broueht forward 246.508 435.0 681,508 649,878 TOTAL FUNOS CARRIED FORWARD 268,938 435,000 703,938 681,508 The notes form part of these fInancal 5tatetnents Page 4
FOTHER8Y ALMSHOUSE CHARITIES STATEMENT OF FINANCIAL POSITION 30JUNE 2025 2025 Total fvnds 2024 Total fund5 Unrestricted fund Restricted fvnd Notes FIXE O ASSETS Tangible assets Investments 435,000 435,0 214,251 435,CK)O 215,579 214,25L 214,25L 435,000 649,251 650,579 CURRENT A55ETS Oebrors Cash at bank 463 57,034 463 57,034 1,397 32,227 57,497 57,497 33,624 CREDITORS Amounts falllng due wlthln one yÈar 12.8101 12,8101 12,6951 NETCURRENT ASSETS 54,687 54,687 30,929 TOTALASSEfs LESS CURRENT LIA8ILmES 268,938 435,000 703,938 68J,508 NET ASSETS 268,938 435,000 703,938 681,508 FUNOS Unrestricted funds ResrrirtÈd funtJ5 268,938 435,0 246,508 435.000 TOTAL FUNDS 703.938 681,508 The fin8ncial statÈments werE approvÈd by th@ Board of TrustÈes Ènd authorised for i55ue on Its behalf by.. and were signed on Trustee Trustee The notes form part of these financial statements Page S
fOTHER8Y ALMSHOVSE CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 ACCOUNTING POLICIES Basls of Preparing the fSnancSal statements The financial statÈment5 of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021'Actounting and Reporting by Chèrities.. 51atement of RÈcominended Practice applicable to charities preparing their accounts in ètiofdante with the Fin8ncial Reporting standard applicable in thÈ UK End Republic of Ireland IFflS 1021 (effective I January 20191,, Financial Reporting srand3rd 102 'The Financ121 Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical t05t convention. with the exception ol investmefits which are included at market value, as MOdfied by the rev31u3tion of certain a55et5. Income All Income is rEcogni5ed in the Statement of Financial ActFvitles once the tharity ha5 eDtitlernent to the funds, it is probable that the income will be received and the amotsnt can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there Is a legal or construcrive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in Settlement and the atnount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings th3t aggregate all cost related to the cètegory. Where costs cannor be directly attributed to Particular heading5 they have been allocated to activitie5 on a basis consistent with the use of resources. Tan8lble flxed a$SS Almshouses are maintained to such a standard that their residual value is Considered to be not less than their rn05t recent valuation Consequently no depreciation is charged. TatIon The char1ty is exempt from rax on its charitable activities. Fund accountSng Unrestricted fund.. Unrestricted funds are available to be used for any purpose appropri3te to the charity's charitable obietts. Restricted fund.- Restricted funds may be used for any purposes that are consistent with the objects of the donor, namÈly the accoTnmod1tTr and support of older people. INVESTMENT INCOME 2025 2024 Dividends 3,106 2,933 TRUSTEES, REMUNERA0 AND BENEFITS There were no tru5tee5' remuneration orother benefits forthe year ended 30 June 2025 ncr for the year ended 30 June 2024. Tm$t¢es' e¥penses There were no trustee5' exppn5e5 paid for the year ended 30 June 2025 nor for the year ended 30 June 2024. Page 6 conrinued...
FOTHERBY ALMSHOUSE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR ThE YEAR ENDED 30 JUNE 2025 COMPARATIVES FOR THE 5TATEMENTOF FINANCIAL ACTIVITIES Unrestrirted fund Restricted fund Total funds INCOME AND ENDOVIMENTS FROM Charrtable 3rtivitie$ Almspersons, maintenance and heatlne contrlbutions (net of voids of £Nill 26,257 26.257 Investment incorne 2,933 2,933 Totsl 29,190 29,190 EXPENOITURE ON Charitsble act4Vitle$ Almshouse Costs 16,789 16,789 Net gains on inve5trnents 19,229 19,229 NET INCOME 31.630 31,630 RECONaLIATION OF FUNDS Total funds brought forward 214,878 435,0( 649,878 TOTAL FUNDS CARRIED FORWARD 246,508 435,(M)) 681,508 TANGIBLE FIXED ASSETS Freehold property C05T At l July 2024 and 30 June 2025 435.0 NET BOOK VACUE At 30 June 2025 435,Tr)O At 30 JunE 2024 435,0(K) The provisitsn of the Almshou5e5 Was established by the original Trust Deed and the trustees continue to ensure th4t they are occupied by qualifying individua15 3nd that the houses are rnaintained in a good state of paIr. The Alm5house5 have not been revalued during the year. However. as explained in note 11, following the year end the Almshouses were valued by a ch£rtered suryeyor. The market value of the Almshouses in July 2025 wès valued at £480.000. The histOTlC Cost of the revalued properties Is rTrot known. Page 7 continued...
FQTHERBY ALMSHOUSE CHARlnES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2025 FIXEDAS5ET INVESTMENTS Investments MARKEfvALUE At I July 2024 Additions Disposals Revaluations 215,579 20,390 134,2741 12,556 At 30 June 2025 214,251 NET 800K VALUE At 30June 2025 214,251 At 30June 2024 215,579 There were no investment assets Outslde the UK. Cost or valuation at 30June 2025 is represented by". Investments Valuatior? in 2025 214,251 DE8TORS.. AMOUNTS FALUNG OVE WIThIN ONE YEAII 2025 2024 Ppaid e¥pense5 463 1,397 CREDITORS.. AMOUNT5 FALUNG DUE WITHIN ONE YEAR 2025 2024 Trade credltors 2,810 2.695 MOVEMENT IN FUNOS Net movement in fund5 At 30.6.25 At 1.7.24 Unrestrlrted funds General fund 246.508 22,430 268,938 Restricted fund5 Restritted fund 435,000 435.000 TOTAL FUNDS 681,508 22,430 703,938 Page 8 continued...
FOTHERBY ALMSHOUSE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- ¢ontinyed FOR THE YEAR ENDEO 30 JUNE 2025 MOVEMENT IN FUNDS- ¢ontlnued Net rnovement in funds, included in the above are 35 follows.. Incoming resources Resources expended Gains and losses Movement in ILJnds Unrestricted fund5 General fund 30,904 121,0301 12,556 22,430 TOTAL FUNDS 30.904 121,0301 12,556 22,430 Comparatives for movèment In fvnds Net movement in funds At 30.6.24 At 1.7.23 unrestricted funds General fund 214.878 31,630 246,508 RÈstrided fynd5 Restricted fund 435,000 435,000 TOTAL FUNDS 649.878 31.630 681,508 Cofflparative net movernent in funds, included in the above are a5 follows.. Incoming resources Re50urce5 expended Gains and losses Movement in funds Unrestrlcted funds Gener81 fund 29,190 116,7891 19,229 31,630 TOTAL FUNDS 29,190 116,7891 19,229 31,630 A current year 12 monihs and prioryear 12 months combined p051tion is as follows.. Net rnovement in fund5 At 30.6.25 At 1.7.23 Unrestricted fvnds General fund 214.878 54,060 268,938 Restricted funds Restricted fund 435,CN)O 435,0 TOTAL FUNDS 649.878 54,060 703,938 Pigè 9 ontinued...
FOTHERBY ALMSHOUSE CHARITIES NOTESTO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 30JVNE 2025 MOVEMENT IN FUNDS- ¢ontlnyed A current year 12 month5 and prioryear 12 months combined net movement In funds, iniluded in the 3bovp are as follow5.. Incoming re50tsrtes ResourtÈs expended Gain5 and 1055es MovernÈnt in fund5 Unrestricted lunds General fund 60.094 137,8191 31.785 54,060 TOTAL FUNDS 60,094 137,8191 31,785 54,060 Vnre5tricted fund5 are availablÈ to be usÈd for any purpose appropriate to the charity's charitable objertS. Restricted funds may be usÈd for any purposes that are £onsistenr with thÈ objects of the donor, namely the accornmgdation and support of older pÈoplÈ. io. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 June 2025. ii. POST BALANCE SHEET EVENTS Following the year end the Almshouses were valued by a chartered SUWÈVDr. The market value ol the Altnshou5es in July 2025 was valued at £480,WO. Page 10
FOTHERBY ALM5HQUSE CHARITIES DETAILED STATEMENT OF FINANCIALAcfiviTIES FOR THE YEAR ENOED 30 JVNE 2025 2025 2024 INCOME AND £NDOWMENT5 In¥estment Intome Dividen(1s 3,106 2,933 Charitable activities Contributlons receiv3ble Servile Iharge receivable 14,628 13,170 IS,L17 11,140 27,798 26,257 Total InominK resour¢es 30,g04 29,190 EXPEN0uRE Charltable a¢tfvltles Gèrden maintenance Repairs and maintenan Rate5 and water Insurance 4,328 2.341 1,616 862 535 1,582 4,168 1,647 1.592 1,452 928 434 1,263 5.691 Alarm system monoring 15,732 13,(K>7 Support costs Other Clerk's salary and honorarium Independent Èxaminer's fee5 Iintluding VATI Sundries Postage and stationery Subscriptions 1,400 2,740 115 1,200 2,040 74 45 423 983 5,298 3.782 Total resources expended 21,030 16,789 Net income 9,874 12.401 Th15 Pa does not form part of the statutory fin3ncial statements Page 11