Charfty rggl$tratlon numb•r 267214
NORTHAM TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

NORTHAM TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Thistees
Mrs E J Brown
MrBJReid
Rev. P D Strong
Mr P Greenaway
Mr M Bolt
IlrA Munn
IAppoinled 28 June 2023)
Admlnlstrator and S•cretary
HR & Finance Business Soluiions
Charlty number
257214
Prlncipal address
Hall Close
Main Street
Loddwwton
Kettering
Northants
NN14 1LA
Independent examlnor
AzetsAudil Servlce8
Thorpe House
93 HeadlaThJs
Kettering
Northants
NN156BL
Bankers
Nalwesl
High Street
Kettering
Northants
NN16 8SZ
Sollcltors
Wlson Brovme
Kettering Parkway South
Kettering Venture Park
Kgtt8rlrrfJ
NN156V

NORTHAM TRUST
CONTENTS
Pag•
Trustees, r&port
Independent exwninefs report
Statement of fin8nclal actlvkies
Bala￿e sheet
Note5 to the financial statements
7-16

NORTHAM TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The tWSte8s present their annual report and fina￿81 statements for the year ended S April 2024.
The accounts have been prepared In actordance ¥￿t￿ ttte accounting poliaes sel out in the notes to the financial
statements and compty ￿th the charity's trust deed, the Charities Aet 2011 and Accounting 8nd Reporting by
Ch8ritles." Stslement of Re￿mmended PractieA appllcable lo c*arilies preparing their accounts in accordance
with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland pU￿1$hed in Octc*er 2019.
Oblectlves and actlvltles
The (l)aritable Trust was founded by Mr E A fimson deceased. 11 was eslablishod by a trust deed dated 25th
January 1967. as amended by 8 furtr*r deed in 1975.
The Trust Was established lo alleviate the hardships of persons of limilwj means residing in the Borolsgh ol
Kettering or elsewhere in Northamptonshlre, prlncipally by the provlslon of almshousè$. houses, flats, Ic*Jgings or
apartm8nls at rants wthin their means or free of rents.
The trustees ￿nTi￿ that they have referred to the guidance contained in the Charity Commission's general
gUthn￿ on publi¢ benefft wh8n reviewirvJ the Trust's objectives and in plannirvJ ils future activities.
The Trust athieves ils (*i8Ctive by provi¢Jing ten accomm(x181ion units at Northam Court. Kettering. The units
omprise six flats and four buThJalows which are at a rent subsidised by income from the Trust's investments.
The Trust provides all fixtures and fittings for the a￿0MmOdatIon and is also responsible for the promsion of
extemal redeeoralion. repairs. vrnter healers, in$yrarKe and g&neral Sito maintenance.
The 9cwmmodatl￿ units are usually fulty occupied. ￿hen vacanoes arise, the election of new terAnls is made
01 Trustees, meetings. Tenants ar8 such persons as the trust8es shall at their absolute discretion consider lo be
eligible under the terrns of the trust deed. Each applicant shall be considered OD his or her respe¢Xive merits and
those of his or her spouse, regard belry had to the factors listed bd¢)w'.
A¢fvandng years
Hardship
Length of residence in the Borough of Kettering
Length of residence in Northamptonshire
Such other cau￿$ and matters and things as, to the Trustees, seem frt.
b)
dl
There have been no changes in aCt￿lty since the date of the last report.
Achlèvèments and perforniance
As reporteil in 2020, due to crack and movement damage, the Trustees deoded that kn of th8 fr)￿ lyjngalows
should be demolished and rebuill. These works have all been completed 8nd the properties have been (Kcupied
since October 2¢)22. These properties being occupied has resulted in the occupancy rate Improving lo 100%
{2023.' 76%) for the four bungaiows and just over 94Qh (2023.. 87%) for the fials.
De3￿te the continuing commitment of the Twst to hlgh levels of malnlenance of both the buildings and grounds,
we have been able to maintain residents, LXJntributions 8t a l¢)w level. Dua to the matters discussed above,
contribuJons this year totalled £26.690 compared to £21,543 for 2022. Expend(ture. exduding govemance costs,
on the provi&on of accommo(Jalion totslled £17.297 for the current year and £29.113 for 2023.

NORTHAM TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Flnaneial r•vièw
Totsl incoming resources in the year increased from £94,445 to £132,339, mainly due lo a loan pr￿1￿J81Y
r￿1Ved from E.A.T. (Holdingsl Limited being converted into a donatyon in 2024 - total ¢k*nations of £68,281 were
received in 2023 to assist in funding the Costs to rebuild two of Ihe four burrfJalows, compared to the £100,000
dona￿On recelved In 2024. Resldenls, contrfbutions increased by £5,147 10 £26.690 wlh 811 four bungalows being
occul￿ed for the entire year, and inve81ment income Increased by £1,128 to £5,649.
Totsl exFenditure in the year was £22,492 {2023.' £34,505). Prcperty repairs decreased from £20,249 to £8,343
as 2023 costs induded £8,687 for the replacement of kitchen units, £1,470 on new floor coverings, £666 for
clearance of and minci repairs to a vacated flat and £1,280 on removal and instsllats'on costs. Further details of
expenditure are provided in the n¢)tss to th8 financial statements.
Net unrealised losses on investments were £1,180 {2023."1oss of£5,8741.
Nel inoome for the yeBr was £108,68712023." £54.066).
Reserves pollcy
General reserves freely available at 5 April 2024 werè £180.766 {2023'. £78,269). The free reserves comprise
unrestrirAed funds not invested in tsngible fixed assets. The freély available reserves invested at 5 April 2024
lolalled £136,818 12023.. £137,978). These investments are dassified as fixed assets and are held to ensure
onlinuty in the level of rent subsidy provided to our tenants, who a￿ the beneficiar￿$ of the charity. A material
reduction or wthdrawal of the subsidy with little or no notice would. in our opinion. cause the very hardships
which the charlty 8Sm8 to alleviate.
The balance of free r￿r¥eS at 5 Apdl 2024 totalled £43,948 (2023.. £Nill. The trustees have pwlously adopted
a policy of maintaining free resources not gamiarkad for long temi inv￿lmant at a level whi¢h is arproximately
equivalent to tsvelve months of expected annual expenditure. This Is eslimaled to equate to approximately
£31,OW lo £35,000 al 5 April 2024. At fhis level, the liustees consider that, in the event of a significant decrease
in income. they would be able. in the short term, to continue to meet their obligatsons lo re￿dents, whilst
maint¥ining their wtributions a the pre3ent low level. It would obviously be nec£ssary lo GOn￿der h¢)w income
would be replaced or activities changed. Free reserves were above target level at the year end and, following
completion of the project to rebuild two of the bungalows owned by the Trust. all properties are rthv occupied
and incom& from resKlenls' contributions ha8 increased. As a result, it is ex[￿rted that free reserves will incre88e
over the medium term. The trustees will continue lo review their reserves poliw on a regular basis.
Investment pollcy and perforniance
The trustees have consxlered the m08t appropriate policy for investing funds arKI consider that sFe￿alIsed unil
trusts designed for the charity sector, and a building $9¢iety investment a￿O￿nI. meet their requirement to
generate both income and capital grovrth with a low level of risk. Income from these inv8slments for the year
was £5.649 12023.. £4,521}. In 2024, m#rkel e£Jndf(ions resulted in 8n unrèalised kjss on the unit trust
in¥e5tsnents of £1.160. Thi5 compare5 to an unreali8ed loss of £5.874 in 2023.
Futurg plans
The trustees, objecb.ve is to continue lo achieve high levels of occupancy ty maintainlng the cuffenl high
standards of accommodation, whilst m8inlaining residents, contributions at a low thl.
Structure. governance and management
The charity is an unincorporated charity registered ￿rfth Ihg Charlty Commlsslon for England and Wales.
The trust deed provides for a minimum of four and a maximum of ten trustees. The trustees have ttrp power lo
appoint substitute or addilKJnal trustees. The tntstees may. If Ot appears expedient and proper so to do, invite
Northamplonshire County Counal lo nominate persons for conSiderat￿n by thè tnjslees in the 8Fpoinlment of
new or additional trustees. Mr E A Timson (leceased. the founder of the Trust. had the power, in the case of any
vac8ncy in the number of trustees, to nominate not more than four additKJnal twstees. This power now rests with
Mrs E J Brown. The Trustees remain in office until they are remved.

NORTHAM TRUST
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
The trustees who served during the year and up to the data of signabjre of the financial statsmants were..
Mrs E J Brown
Dr J A Jefferis
MrBJReld
Rev. P D Strong
Mr P Grgenaway
Mr M Bolt
MrA Munn
{Resigned 26 June 2023)
(Appointed 28 June 2023)
Rlsk revlèw
The trustees have reviewed the major risks to %thSch the Trust Is exposed. The maln financial risk ha5 been
nnecled with investment management, but this has been mitigated by investment in specialised unit trusts
designed for the charrty sector. The main oper*'ng risk concems that arising from the landlord and tenant
relationship. This has been mitigated by proper pr￿edureS when dealing Yith tenancy matters. regular
mairrtenance of the yoperties, employment of professionals Yéhen necessary and insurance.
The trustees, report was 8ppr¢)ved by the Boord of Trustees.
Mr8 E J Brown
Trustee
Dated.. .2..9.-.?...i.4.

NORTHAM TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF NORTHAPJI TRUST
I report to the trustees on my examinalion of the financial statements of Northam Trust (the Tru¥tl for the year ended
S April 2024.
Re$ponslbSlttles and ba$ls of report
As the trustees of the Trust you are responsible for the preparab)n of the financial statement5 in accordancè wth
the requirements of the Charitle8Act 2011 (the 2011 Act).
I report in respect of my examinal¥)n of the Tru$V$ finanrial statements carried out under 5ecbon 145 of the 2011
Act. In Carrying out my examination I have followed all the applicable DirectKJns given by th8 Charity Commissicn
under section 145(51{bl of the 2011 Act.
Indepgndent examlnerfs sLitèmènt
Your ¥ttention is drawn to the fact that the ¢harfty has prep8red finanual ststements In accorda￿e wrih AccounliryJ
and Reporting by Charikn"es p￿parIng their accounts in accordance with the Financial Reporting Standard appllcable
In the UK and Republlc of Ireland {FRS 102) in preference lo the Accounting and Reporbng by Charities.. Ststèment
of Recommended Practice issued on 1 April 2005 which is referred to in the extant reguLgllons but has n¢)w been
Ihdrawn.
l under5tsnd that Ihis has been done in order for finanual statements to provide a true and fair view in accordanc
wlth GenerallyAccepted ALYounting Practice effective for reportiro periods beginning on cff after l January 2015.
I have completed my gxaminalion. I confirm that no matters have come to my att&ntion In connects.on with the
examination giving me ￿use lo belleve that In any material Tespect..
accounting records were not kept in respect of the Trust as required by 8ecb.on 130 of the 2011 Acl,. or
the financial statements do not accord with those recor(Is.' or
the finandgl statements do not comply with th8 applicabl8 r8quirements concernlng th9 form and content of
a¢￿￿nIS sel out in th8 Charities (Accounts and R8POrts) Regulations 2008 other than any fequiremenl that the
awunls give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across rK> Other matter5 in connection with the examination to Ithich allentlon
shouFd be drawn in this report in order to enable a proper under$landing of th¢ finanGial statemgnts lo be reached.
Paul Twer FCA
Institute of Chartered Acccuntsnts in England and Wal8s
Aze15 Audit Se￿Ices
Thorpe House
93 Hoadlands
Kettering
NN15 6BL
Unrted Kingdom

NORTHAM TRUST
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
UnrgStrlctgd
funds
2024
Unrestrlcted Restrfcted
funds
funds
2023
2023
T¢Aal
2023
Notes
Income and endowm•nts frorn:
DonatSons and legacles
Charitsble activities
Investments
other Income
100,000
26,690
5,649
68.261
68.281
21,543
4.521
100
21.543
4.521
100
Total income
132,339
26.164
88,281
94,445
Charitable aCtI￿tieS
22,492
34,505
34,505
Net gainsl{losses} on inveslments
11
11,1601
15,8741
15.8741
Gross transfers betsveen funds
Not movom9nt In funds
68,281
{68.281)
108.687
54.066
Fund balances al 6 April 2023
307.097
253,031
253.031
Fund balan¢eJ at S April 2024
415,784
307,097
307,097
The statement of finanryal actNities includes all gains and losses recognised in the year.
All income and expenditure d8riv&s fr¢yn continuing act￿ltieS.

NORTHAM TRUST
BALANCE SHEEr
AS AT5APRIL 2024
2024
2023
Flxed assets
Tangible assets
Investments
13
14
235.018
136,818
228,828
137.978
Currnnt assets
Cash at bank and in hand
371.836
366,806
46,438
42.781
Cveditorn: amounts falllng due wlthin
one year
16
(2.490)
1102,490)
Nel current 888etsl{liabllitiesl
43,948
(69,709)
Totsi •ss•ts1gss current IlablllUÈ$
415,784
307,097
Income funds
re
Total unrestrict8d funds
17
415,784
307.097
415.784
307,097
415,784
307,097
The financral statements were approved by the Trustees on
Mrs E J Brown
Trust¢e

NORTHAM TRUST
NOTES TO THE FINANCIAL STATENIENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accounting pollclo¥
Charlty InfomMtlon
Northam Trust is an unincorporated charity registered wth the Chartty Commission for England and Wales.
1.1 Accountlng conv•ntlon
finanLial $L2temenls have been prepared in accordance wllh Accounting and Reporting by Cha￿lieS..
Statement of Recommended practi￿ applicable to charities preparlng their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Rèpublic of Irdand issued in October 2019, the
Financial Reporting Standard applicable in the United Klngdom and Republic of IrelarKI IFRS 1021, the
ChariliesAct 2011 and UK Generalty Accepted Accounting Pract￿.
The financial $tatements have been prepared to give a 'lrue and fair, view and have departed from the
Charities (Accounts and R8PQrts) Reyulalions 2008 only to the extent required to provlde a Irue and fair
view,. This departure has involved following Accounlng and Reporting by Charities-. Statement of
Recommended Practice applicable to ¢harib"e3 preparing their financial Statements in accordance wlh Ihe
Financial Reportlng Standard applicable in the UK 8nd Republic of Ire18nd issued in October 2019 rathar than
thg Accountirffj and Re￿rtIng by Charities.. Ststement of Recommended Pradce effective from 1 April 21)05
which has since been wthdrawn.
The finandal st8temenls are prepared in sterting, which is the functionaj ¢urrency of the Tru51. Monetary
amounts in these financial statements are rounded to the nèarest £.
The financial ststements have been prep8red under the historical c08t convenli¢)n, modified lo include catsin
financi81 instruments at fair value. The principal ar￿Unting policies adopted are set out telow.
The chamly constitutes a public beneflt entty as defined by FRS 102. The charity's financial statements
present Informalton al)out it as an indlvidual undèrtaking.
1.2 Golng concern
The trustees conslder that IheTe are no material uncertaintiès about the charity's ability lo conllnue 83 a going
concem. At the end of the reporting pwlod, the most Signfficant areas of flnancial Vr￿ertaInty affect the
carylng value of fixed asset investmènts held by the charity, the level of investment retum and
perfomiance of investment markets, gs explained in the notes to the financial slalemenls, and the ongoir¢g
eost ol maintaining the Tru8t'5 properties whilst maintaining residents, contributions at a low level. which is
partFy mibgaled by ihe reserves policy developed by the trustee5. In assessing the approprlateness of the
goiro concem assumption, the trustees have reviewed the flnanci81 posits'on of the Trust. ￿nSIdering all
r&gsonabJy foreseeable potential scenarios and uncertainties In relalbon to income and expendrture. Based on
this information, Ihe truslg85 have reasonablè expectation that the Tnjst can meet its Ilabolities as they fall
due.
1.3 Charltable funds
Trust capital eomprlses the valuo of kyoperty and c8rtain investments grfted to the Tw81 by its founder.
adjusted for subsequent 8d(6itions to and disposals ol the onginal assets, and reali88d and unrealised gains
and losses on investments. Revenue resetves ￿Mprise accumulated income from Trust prop8rti8s and
investments, Lqss 8mounls expprKled n the objects of the Trust. The fund8 are dassified as unrestrfded funds.
Unrestricted funds can ￿ spent at th8 discretion of the trustees in fiJrtherance of any of the Trusts objects.
Rèstrided funds are funds held on spèclfic trusts dedared by donors. Th8 3PgCtfic trusts establish the purposo
Ich the Tnjst can use the reslrlcted furKIs.

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5APRIL 2024
Accounting polici8s
{Continuedl
1.4 Incom•
l income 15 recognised On￿ the tharity has entilemenl lo the income. there is sufficient certalnty of recelpt
nd th8 amount be quantfigd with reasonable a￿Ur¥￿. Donations are reccgnised vthen there Is
evidènce of entitlement to the gift. receipt is probable and its amount can be measured reliably. Unit trust
Irthme is recognised when receivable and the amount can be measured rella1￿y, which is rn)rnally upon
n￿ficatIOn of the amount pald or payable by the fiJn(J manager. Income trom residents. contribut￿nS towards
upkeep is recognised on a slraighl-line ba618 over the temi of the tenancy agreement.
1.6 Exp•ndltur•
Liatmlities are recognis8d as expenditure 05 SOC￿ as there is a legal or wnstruclive c*)lig81ion committlng the
charity 19 that expenditure, il is probable tho1 setttement will be required and the amount of the ci)ligation can
be measured reliably. When the charity enters into a ttlntract for thè Supply of goods or sarvices, expendf(ure
Is recognised once the supplter has performed their part of the contract.
&Kpenditure is accounted for on an aecrua15 basi8, induding irrecoverable value added tax where approwiale.
All expenses, induding govemance costs, are allocated to the aprAicable expenditure heading in the
ststement of financkql 8ch'vits'es.
1.6 Tanglble flxed assets
Tangible fixed assets are slated 81 cost.
BuiKling8 under construction are accountsd for at Cost. based on valu8llon8 for works carried QLrt and other
direclly attributable costs incurred in the yeaT. Th8y are not depreciated unlil they are brought into use. On Ihe
basis that th& donated services cannot be rnea$ur8d r8liably, Constructi￿ costs do nol include the value lo the
charity of project management services provided by a reSaled paty.
No depreciation is provided C￿ freehold prop¢rtie$ because they a￿ bjlly maintained on a regular basls.
Acwrdingly the trustees Co￿der the useful e￿nOmiC lives of these assets lo be 50 long and thelr le￿dUal
value so high. that thwr annual and cumulative deprerAation is not material.
Subsequent expenditure on properties is capitslised when, in the opiniffl of tha truste88. the perfc+rnian￿ of
the assets is enhanced by the expenditure. Expendtturg which maintains the ￿rforManCe of the assets 1$
racognised in th8 period whén incurrad.
Individual items of capital expenditure in excès8 of £800 are accounted fe¢ as fixed ¥￿et additions.
An item of property is derecognised either on disposal or when no fulure ecommic beneffts are exFeCted from
its use or disposal.
1.7 Flxèd asset Inve8tmènt8
FTrxed 8ssel investrnents are inf(ially measured al transaction price, and are sub5equenUy m&agJrad at fair
value at each reporting date. Changes in fair value are recognised in nel incomellexpenditurel for the year.
1.8 Impalnnent of flxed assets
At each report¢ng end date. the Trust review8 the carrying amount8 of ils tangl￿e assets to detemine whelher
there is any indication that those assets have suffered an impairment loss. If any such indlcation exists, the
recoverable amount ofthe asset is estimated in cider to detgmine lh& gxlent of thg impairment loss (If any).
1.9 Cash and cash equivalents
Cash and cash equivalent5 include cash in hand, depostts held al call Y￿th banks, other 8h¢xtstem liquid
investments writh original malullties of thr88 months or less.

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED S APRIL 2024
Accountlng poll¢le$
IContlnu•d}
Basic lin•ncial ass•ts
Baslc finanaal assets. which include debtors and cash and bank balan¢g$. are initially measured at
transaction price including Irans8Ction costs and are subseqLtently cèrried at amorti¥ed wst using the effectlve
interest method unless the arrangement constitutes a financing transaction. where thg transaction is
measured 8t the present value of the future receipt8 discounted 8t a market rate of interest. Financial assets
classrfied as receivable w￿h1n one year are not amortised.
B8sie finan¢lal liabilitiOS
Basic finanu81 liabilities, including creditors are initially recognised al transacthin price unless the
arrangement constitutes a financing Iransaclion. ￿ere the debt instrument is measured at the present value
of the fvjlure paymenls discounted at a Ma￿et rate of interest. Financial liabilib.es classthed as payable within
one yfrar are not amortised.
Debt instrument$ are subsequenuy carried at amortised ￿¥t, using the effective inleresl rate methDI.
Trade creditors are ot4iggtiOn5 to pay for goods or servi￿5 thot have been acquired in the or(Jln8ry course of
OFerations from suppliers. Amounts payable are classified a5 current liabilities if payment is due wlhin one
year or le35. If not, they are presented as non-cuffent liabilitie5. Trade credrtofs are re￿gnISed initialty at
transaction prrÈ and subgequenlly measure(l at amortised cost usong the effective interèst melhod.
Concesslonary loans are measur9d at the amount recelved.
D•rncognition of financial liabilities
Financial liabiif(ies are derecognised when the Trust's contractual obllgallons explre or ar$ disthorged or
canc8118d.
Crltkal accountlng estlmates and Judgement8
In the applulion of the Trust's accounting pollcle6. the trustees are required to make judgements, eslimales
and assymptions about the carying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptK>ns are based on historical experience and other factors that
are ￿nSIdered to be relevant. Actual retsults may differ from these e6ts'males.
Thè eslimales and underlying assumptions are reviewed on an ongoing basis. Rovisions lo accountir
estimates are reco9nised in the period in which the estimate is revised vthere th8 r8vision affects ffily that
per￿d. or in the period of the revision and future periods where the rewsion affects both Current 8n(i future
periods.
Donatlon8 and legacies
Unrgstrlctod Restslcted
funds
fvnds
2024
2023
Donations and gift9
100,ODO
68,281

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5APRIL 2024
Donatlons and l•gaclo8
Icontinuedl
Donatlons and glfts
Exceptlonal donatlons- E A Timson Famlty Tnjst
Exceptional donation- Mrs E J Brown
Exceptional donation- E.A.T. (Holdings) knmrted
53,176
15,105
loo,￿0
100,000
68,281
Charltable actlvltles
Provlslon of
accommodallon
2024
Provision ol
accommodatlo
2023
Residents. contribthion5 towards upkeep
26,690
21.543
Investmonts
Unrestrlcted Unrèstrlctgd
funds
funds
2024
2023
Income from lislgd investments- Unit trust distribution$
Interesl receivable on ￿sh deposits
4,589
1,(EO
4,106
415
5,649
4,521
other Incom&
Totll Unrestrlcted
fund8
2024
2023
other income
100
13th8r In￿M? compris8s £Nil12023: £1001 for compensation réceived from the Trust's bankers.
10-

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
Charftable actlvllles
Pmvision of
Priwl$lon of
accommodatlon acc¢ymmodatitsn
2024
2023
Rgpair$ to properties
teT rote$
Council tax
Insurance
Light and heat
Garden mainténan
8.343
2,783
20.249
1.221
490
1,694
1,775
267
4,129
4,482
17,297
29,113
Share of govemance costs18ee nole 8)
5.195
5,392
22,492
34,505
Support ￿$ts
Support Governance
Costs
costs
2024
Support Governance
costs
costs
2023
Amounts payable to
independent examiner
Sundry 8XPgn
AdmlnlstralNe support
2,460
125
2,610
2.460
125
2,610
2.586
306
2.500
2,586
2,500
5.195
5.195
5.392
5,392
Anatysed belween
CharIta￿e activib"e8
5.195
5.195
5,392
5,392
GOverna￿e costs are all alIc￿ted to the provison of accommcKIat￿n activty.
Amounts payable to the independent examiner comprise the independent examiner's fee of £390 {2023'.£4261
and a fee of £2,070 (2023.. £2,160) for aceounlancy and other services.
Trust
None of the trustees lor any persons connected with them) recèived any rernur￿ratIQn or ￿nefits from the
TTLISI during the year or the previous year. No trustees were reimbursed expense5 during the year 12023..
£Nill.
10 Exceptlonal expendlture
In the year ended 5 April 2023, the Trust incurred exceptional propety repair ￿$1$ of £8,887 for replacement
kitchen units_ There were no exceptional propety repair costs in the year ended 5 April 2024
11

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
11 Net gain8111088e81 on inve8tmgnts
Unr•stflcted Unrestrictad
funds
funds
2024
2023
Unrealised gain on thé revaluation of inv&stments
(1,1601
15,874)
12 Taxatlon
The tharity is exempl from tax on income and gains falling wthin section 505 of the Taxes Aet 1988 or section
252 of the Taxatlon of Chargeable GalnsAct 1992 to the exient that these are ap￿led lo rts charitable objects.
13 Tanglblg flxgd a5¥ets
Frn•hold land and l>ulldlng8
Cost
At 6 Aprll 2023
Addltion$
228,828
6.190
AI 5April 2024
235,018
Carrylng amount
AI 5April 2024
235.018
Al 5 April 2023
228,828
The freehold propèrty is used to provide accommodation for the charity's tenants, who are the benefic#aries of
the Trust.
14 Flxed assel InvoStm¢nts
Lbted
Inve$tm•nts
Cash in
portlollo
Total
Cost or valuation
At 6April 2023
Valuation changes
90,978
{1.160)
47,0
137,978
{1.160)
At 5 April 2024
89,818
47,000
136.818
Carrylng amount
At 05 April 2024
89,818
47.000
136,818
At 05 April 2023
90,978
47.000
137,978
12-

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
14 Flxed agset Investments
IContlnu•dl
All investments are carrfied at Ihdr fslr value. Listed invesknents comprise shares in professionally mana￿d
collective investmènt ffiJnds. The basis of fair valu8 for listed investments is equNalent lo the market value.
uslng the daily prices publi$hed by the fund managers. AJI investment asse15 are held within the UK.
The significance of investhenls to the ongoiTrJ flnandal sustainabllfty of the Trust is considered In the
financial review section of tha Truslegs, report.
The main risk lo the Trust from investments lies in the combination of uncertain investment markets and
volatility in yield. The Trust is in part reliant on income yiel¢J tr) finance its work and the tolle¢tNe investment
funds referred to above ore primarity invested in UK dep08Fts. UK government bonds, other sterfing
denominated fLxed inter¢51 secur￿e$ and UK stocks.
Liquldty Ask Is an￿e1pated to be low. The Trusts Investrments are traded in a market wrih good liquidty and
high trading volumes. The Trust has no material investment holdings in market8 SLTrbject to exthange
controls or Iradbng restrictions. A S￿A1￿C8￿t cash baknGe is held.
The Trust manages these investment risks by operatiro an investment policy that prowLles for diversification
of holdings that are quoted cn recognised stock exchanges and cash. The Trust does not make use of
derivaliv8s and similar comF4ex financial instruments.
16 Credltors: amounls falllnu due wlthln one year
2024
2023
Borrowings
Accruals and deferred income
100,000
2,490
2,490
2,490
102,490
During the year ended 5 April 2022 a loan of £1 CQ,000 was re¢ewed from E.A.T. {Holdingsl Limited. This loan
has been converted into a donation In the year endèd 5 April 2024 with the agreement of E.A.T. IHoldlngs)
Limited, and as a resuti there Is no108n repayable al 5April 2024.
13-

NORTHAM TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED>
FOR THE YEAR ENDED 5APRIL 2024
16 Re8tricted fund8
The income fund5 of the charty ￿nd￿ed restricted funds ￿mpliS1ng Ihe following donatlons and grants held
on trust for specrflc puwes..
Movement In funds
Movement
In funds
Incomlng
rnstsurcos
lttomlng
re￿UrCeS
Transfers
Balance at
l Aprfl 2023
8alanc8 4t
SApTII 2024
Bung8bw rebuild cost fund
68.281
{68.2811
Th8 Trust received donations in prior years to cover part of the costs associated with the demoliti￿ and
rebuilding of bungalows owned by the Trust.
The cost5 covered by the ¢Jonations have bgen capitalised and added lo the cost of freehold land and
buildings, which ara used for thg ggn8ral purposgs of tha Trust Th8 funds have therefore been tran4erred to
unrestrlded fund$.
The rebuild we¢ks have been completed wilh som& further c05ts recognised in the year to 5 April 2024
totalling £6.190 whith have also been capitalised and added lo the cost of freehold land and bulldlrKJs.
14-

NORTHAM TRUST
NOTES TO THE FINANCIALSTATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
18 Rfrlated party transathns
During the year. the T￿￿t received donati￿8 of £Nil {2023.. £15,105) from Mrs E J Broym, a trustee, and ÈNil
12023.. £53,176) from the E A Timson Famity Tru¥t, a charity connected Vdrih Mrs E J Brown.
In connection ￿ the woiect to rebuild Iv40 ofthe bungal¢)ws owned by the Trust..
Perfth assats Limit8d, a company in which Mr8 E J Br¢)wn Is materially Interested as a director
shareholder, hos provlded In the year and previous year, free of charge, assistance with the
management of the project and has setued certain costs direcuy attribuiable to the project.
On the basis that the value canrnt be me8su￿d reli8bly, constNction costs c188srfied as 8ddltions to
tsngi￿e fixed assets in the year and in the previous year do not indude the volue to the charity cl the
managemant seNitÉs provided by Perfects Assets Limrted.
Additions lo flxed assets indude £6,19012023.' £41,466) in respect of costs attributable to the woject,
whlch have been paid by Pertecta Assets Limited. Creditors at 5 April 2024 include £Nil12023- £Nill
owed to Perfecta Assets Limrted. £6,190 12023: £87.052) was répaid lo Perfecta Assets Ltd in the
yeaf.
Cref1itors al S April 2023 also incLKled a loan of £100.000 received from E.A.T IHoldingsl Limited.
company In which Mr8 E J Brown is materially interestèd as 8 director and shareholder. This loan has
been converted into a donat*)n of £100.000 lo the Trust in the year ended S April 2024.
There wore no other related paty transactlons trbat required disclosure during the current or preceding year.
16-