URSULA LODGES TRUST
FINANCIALSTATEMENTS FOR THE YEAR ENDED
31 MARCH 2025
(Charity Registered Number: 261419)

URSULA LODGES TRUST
REPORT OF THE TRUSTEES for the year ended 31 Marth 2025
The Trustees present their Annual Report and audited financial statements for the year ended
31 March 2025.
Trust's Prlnclpal Address: 23 Bushell Way, Chislehurst, Kent. BR7 6SF
Trustees:
The Trustees who served durlng the year to 31 March 2025 were as follows..
A Geor8e
J Gatfield
5 Kerridge
P Aexander
Summary Hlstory of the Trust's Actlvities:
Ursula Lodges Trust is a ReB15tered Charity. (Number.. 261419)
The Trust was established and endowed in the mid nineteenth ￿ntury by the Beren5 family of
Sidcup to provide almshouse accommodation for occupation by needy spinsters of the established
church. For many years the Trust's activity comprised the upkeep and adminlstration of a row of
six almshouse cottages at 114 to 124 levenl Sidcup Hill. The land is unregistered and the Trustees
are In the process of taklng steps to get the freehold title registered at Land Registry in the name of
Ursula Lodges Trust. The Chislehurst and Mottingham Housin8 Association was appolnted Trustee
in 1971 undertheterms of a scheme approved bythe Charity Commissioners. The scheme updated
the Trust's administrative statutes and the admission criteria for almspeople.
In 1972 a further scheme of the Charity Commissioners empowered the Trustees to enter into an
agreement wlth Sidcup Housing Association (The Association) whereby:
lal On 20 January 1973 a 99 year lease of the six almshouses and adjoining land was granted to
The Association.
Ibl The Assoclation undertook to redevelop the site and provide the Trust with six of the flats 50
produced.
Ic) On 28 February 1975 The Association leased the property back to Chislehurst and Mottingham
Housing Association actlng as Trustee for Ursula Lodges Trust. The lease to run untll 15 January
2072.
In summary, the Trust owns the freehold, has granted a lease to the Association and has received a
lease back from the Association for the period of the lease to the Association less 5 days. Therefore
the Trust has in substance beneficial ownership of the six flat5.
The flats are not however shown in the Balance Sheet of the Trust and the Trustees consider that
glven the length of time since the arrangements were entered into, that restating the accounts to
include the flats at a valuation would not be of benefit to any partles and that clear disclosure of the
position In the Trustees Report Is a preferable approach. The rental Income recelved by the Trust
from the Assoclation in respect of the flats is land has always been) included in the Income
Statement.

URSULA LODGES TRUST
REPORT OF THE TRUSTEES for the year ended 31 Marth 2025 Icontlnued)
Revlew of the Trust's Actlvlties
The summaryhistoryoftheTrust'5 artivitiesis shown on page l.TheTrust hassuccessfullymanaged
the six almspeoples, flats at the Association's Ursula Lodge5 development durlng the year ended 31
March 2025, and the Trustees are confident that this wlll continue for the foreseeable future.
Statement of Trustees, Responslbllltles In respect of the financlal statements
The Trustee5 are required to arrange for the financial statements to be prepared for each flnancial
year whlch give a true and fair view of the state of affairs of the Trust and of the surplus or deficlt
of the Trust forthat period. In preparlng those flnancial ststements, the trustees are required to:_
selert suitable accounting policies and then apply them conslstently;
make judgments and estimate5 that are reasonable and prudent;
prepare the financlal statements on the going concern basis unless it is inappropriate to
presume that the Trust will continue operating.
The Trustees are responsible for keeping proper accounting records which disclose wlth reasonable
accuracy at any time the financial position of the Trust and to enable them to ensure that the
financial statements comply with the Trust Deed. They are also responsible for safeguarding the
assets of the Trust and hence for taking reasonable Steps for the preventlon and detection of fraud
and other irre8ularities.
By Order of the Trustees
A George
Trustee
rh August 2025

INDEPENDENT AUDITORS. REPORTTO THE TRUSTEES OF
URSULA LODGES TRUST
Opinlon
We have audlted the tlnancial statements of Ursula LodgesTrust for the year ended 31 March 2025,
which comprise the Statement of Comprehenslve Income, the Statement of Changes in Reserves,
the Statement of Financial Posltion and the related notes. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice}.
In our opinion the financial statement5:
give a true and fair view of the state of the Trust's affairs as at 31 March 2025 and of its
incoming resources and application of resources for the year then ended.
have been properly prepared in accordance with United Kingdom Generalty Accepted
Accounting Practice; and
have been prepared in accordance with the Charlties Act 2011.
Basls of oplnlon
We conducted our audlt In accordance with International Standards on Auditing IUKI IISAS IUK} and
applicable law. Our responsibilities under those standards are further described in the Auditorfs
responsibilsties for the audit of the financlal statements section of our report. We are independent
of the Trust in accordance with ethlcal requirements that are relevant to our audit of the financlal
statements in the.UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requlrements. We believe that the audit eVIden￿ we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relating to going toncern
In auditing the financial statements, we have concluded that the Trust's, use of the going concern
basis of accountlng in the preparatioll of the financial statements is approprlate.
Based on the work we have performed, we have not identified any material uncertainties relating
to events or condltions that, indivldually or collectively, may cast significant doubt on Ursula
Lodges Trust's ability to continue a5 a going concern for a period of at least twelve months from
when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are
descrlbed in the relevant sections of this report.
Other Information
The other Information comprises the information Included in the Trust's report, other than the
financial statements and our auditorfs report thereon. The Trustees are responsible for the other
Informatlon.
Our oplnlon on the financial statements does not cover the other information and, except to the
extent otherwlse expllcltly stated in our report, we do not express any form of assurance
conclusion thereon.

INDEPENDEl+JT AUDITORS, REPORT TO THE TRUSTEES OF
URSULA LODGÉS TRUST Icontinuedl
In connection wlth our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other Information is materially inconsistent
with the financial statements or our knowledge obtained In the audit or otherwise appears to be
materially mlsstated. If we Identify such materlal inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the
financial statements or a material mi5Statement of the other information, If, based on the work
we have performed, we concludethatthere is a material misstatement ofthis other information,
we are required to report that fact. We have nothing to report in this regard.
Responsibilitles of the Trustees
As explalned more fully in the Statement of the Trustees, re5ponsiblllties, set out on page 2, the
Trustees are responsible for the preparation of financial statements and for being satisfied that
they give a true and fair view, and for such Internal control as the Trustees determine is necessary
to enable the preparatlon of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Trusvs
ability to continue as a going concern, dlsclosing, as applicable, matters related to going concern
and using the 8olng concern basls of accounting unless the Trustees elther Intends to liquidate
the Trust or to cease operations, or have no realistic alternative but to do so.
Audltor'5 responsiblllties for the audlt of the flnanclal statements
We have been appointed as audltor under sectlon 145 of the Charities Act 2011 and report in
accordance with the Act and the relevant regulations.
Our objectives are to obtain reasonable assurance about whether the financial statement5 as a
whole are free from material misstatement, whether due to fraud or error, and to issue an
auditorfs report that Includes our opinion. Reasonable assurance is a high level of assurance, bLrt
Is not a guarantee that an audit conducted in accordance wlth ISAS IUKI will always detect a
material misstatement when it exlsts. Misstatements can arise from fraud or error and are
considered material if, Individually or in the aggregate, they could reasonably be expected to
influence the economic declsions of users taken on the basis of these financial statements.
Irregularitles, including fraud, are Instances of non-compllance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to detect material
misstatements in respect of irregularitles, including fraud. The extent to which our audit
procedures are capable of detecting irregularlties, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable
to the entity and determined that the most Significant are those that relate to the
requlrements of Charities Act 2011.
Our audit procedures are designed to identify non compllance with such laws and
regulations identified above.

INDEPENDENT AUDffORS' REPORT TO THE TRUSTEES OF
URSULA LODGE5 TRUST Icontinuedl
We made enquiries of management to check whether they were aware of any Instances
on non-cornpliance with laws and regulations or fraud during the period of the financial
statements and these are confirmed to us In their Letter of Representation.
We also check any large or unusual transactions durlng the course of our audit.
Based on the procedures carried out during our audit we believe that there is a reasonable
chance of detecting irregularlties in the statutory accounts regarding non compliance with
flnancia5 requirements and other laws and regulations and a moderate to small chance of
detecting fraud as fraud can include collusion and concealment and our audit Is not deslgned to
detect these types of fraud. Ultimately, however, the Trustees are responsible for the prevention
and detection of fraud and irregularities.
We do not, in giving this opinion, accept or assume responslbllity for any other purpose or to any
other person to whom this report is shown or in whose hands it may come save where expressly
agreed by our prlor consent in writlng.
Cooper & Co
Chartered Accountants and Statutory Auditor
18 Magdalen Grove
Orpington Kent. BR6 9WE
7th August 2025

URSULA LODGES TRusr
statement of Comprehenslve Income for the year ended 31 Marth 2025
2025
Notes
2024
Income
Charges receivable from almspeople
Less: void losses
Lease rent from Chislehurst and Sidcup
Housing Association Inetl
Donations Ichislehurst & Sidcup Housing Assoc.)
Bank deposit account interest
Extraordlnary repair fund investment income
55,020
53,831
{318}
786
3,158
770
2,288
58,968
56,575
Expendlture
Service charge payable to Chislehurst and Sldcup
Housing Assoclation
Audit and accountancy charges
Legal and professional fees
Maintenance costs Ilncluding cyclical maintenance)
Cyclical Repairs- voids
Major repairs-Telecare system installation
Major repairs- Other
Sundry expenses
Bank charges
18,444
830
21,036
810
583
558
13,413
8,710
533
147
10,638
155
30,553
46,070
Surplus for the year
Unrealised Iloss}/gain In Investment
28,415
11,5071
10,505
837
Total Comprehensive Income for the year
£26,908
£11,342
Total Reserves at l Aprll 2024
Total Comprehensive Income forthe year
170,463
26,908
159,121
11,342
Total Reserves at 31 March 2025 Isee page 71
£197,371
£170,463
The financial statements on pages 6 to 10 were approved by the Trustees on rh Au8USt 2025 and
were sl8ned on Its behalf by:
S Kerrid
Trustee
A George
Trustee

URSULA LODGES TRUST
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
Notes
2025
2024
Investments
Extraordinary repair fund Investment
72,264
70,613
Current Assets
Cash at bank
Debtors
127,864
99,947
1,170
127,868
101,117
Less: Credltors
Amounts falllng due withln one year
2,761
1,267
Net Current Assets
125,107
99,850
Total Assets Less Current Llabllltles
£197,371
£170,463
Reserve5
Maintenance Designated Reserve
Extraordinary Repair Fund
Revenue Reserves
73,141
72,264
51,966
58,141
70,613
41,709
Total Reserves
£197,371
£170,463
The financial statements on pages 6 to 10 were approved bythe Trustees yh Au8USt 2025 and were
signed on its behalf by:
S Kerrid
l Trustees
A George

URSULA LODGES TRUST
Notes to the Flnandal Statements for the year ended 31 Marth 2025
ACCOUNTING POLICIES
The financial statements have been prepared in accordance with applicable Accounting
Standards and statements of recommended practlce.
Basis of Accounting and assessment of going concem
The financial statements have been prepared under the historical cost basis of accounting
modified to include the investments being stated at market value. The Trustees consider that
there are no material uncertaintles about the Trust's ability to contlnue a5 a going concern.
The flnancial statements are prepared on a receipts and payments basis with the exceptlon of
the income charges from almspeople and audit fees which are accounted for on a receivable
basis. However, these prepayments and accruals are so small that they have no significant
effert on the receipts and payments basis of accounting.
maIntenan￿ Deslgnated Reserve
The Charity Commissioners specify that amounts should be set aslde for future maintenance
costs. From l April 1995, expenditure incurred of a capital nature relatin8 to the buildin8 IS
charged in the income and expenditure account under the heading of major repairs.
Transfers tothe designated reserve are determined bythe Trustees each year aftertaking into
account any expendlture Incurred in a financial year.
Extraordlnary Repalr Fund
The extraordinary repair fund was established under the terms of the Charity Commissioners,
Scheme for the Trust of 1971 and subsequent supplemental orders. The fund is designed to
provide for extraordinary repairs, improvement or rebuilding of the almshouse. The Trust is
required to make an annual approprlation to the fund equal to the investment Income
received on the exLraordinary repair fund investment which is re-invested each year.
Extraordlnary Repalr Fund Investment
The extraordinary repair fund investment is included in the Statement of financial position at
Its market value.
2025
2024
Lease Rent from Chislehur5t & Sldcup Housing Assoclation:
Rent re￿1vable in respect of land and buildings
Less.. rent payable in respect of six almshouse flats
{ii
iii
£4
£4
Debtors: amount falllng due wlthin one year
Due from Chislehurst and Sidcup Housing Assoclation
Almspeople's charges in arrears
1.170
£4
£1,170

URSULA LODGES TRUST
Notes to the Flnancial Statements for the year ended 31 March 2025 (continued)
2025
2024
4 Credltors: amount falling due withln one year
Almspeoples, charges In advance
Other creditors and accruals
1,881
880
432
835
£2,761
£1,267
5 maintenan￿ Designated Reserve
At l April 2024
Transfer fromlltol Income and Expenditure account:
for routine and cyclical maintenance
58,141
53,141
15,000
5,000
At 31 March 2025
£73,141
£58,141
6 Extraordlnary Repalr Fund and Related Investment
Extraordinary Repair Fund at l April 2024
Transfer from Income and Expenditure account:
for income arislng re-invested in the extraordinary
repair fund investment
ILoss}/gain arising on revaluation of the investment
at market value
70,613
67,488
3,158
2,288
11,507)
837
Extraordlnary Repalr Fund at 31 March 2025
£72.264
£70,613
Represented by: Extraordinary Repair Fund Investment
Market
Value
Market
Value
1,715 Charibond Charities Fixed Interest Common
Investment Fund Accumulatlon Shares
12024- 1,715 shares)
£72,264
£70,613
7 Revenue Reserves
At l April 2024
Transfer Maintenance Designated Reserve
Transfer Extraordinary Repair Fund
Income arislng re-invested
Surplus for the year
41,709
(15,0001
38,492
15,0001
13,1581
28,415
12,288}
10,505
At 31 March 2025
£51,966
£41,709

URSULA LODGES TRUST
Notes to the Financial Statements for the year ended 31 Marth 2025 (continued)
8 Servlce Charge Payable to Chlslehurst and Sldcup Houslng Assoclatlon
Charges receivable from almspeople are paid over to Chislehurst and Sidcup Housing
Association, after deduction of amounts set aside for maintenance and extraordinary repair, in
recompense for service cost5 and management and support servi￿5 provided in respect ofthe
six almshouse flats,
io