**C a ty eg st at o N u be** Registered Charity Number: 263259 **PLUMSTEAD ALMSHOUSES** FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1 ## **PLUMSTEAD ALMSHOUSES** ## **LEGAL AND ADMINISTRATIVE INFORMATION** FOR THE YEAR ENDED 31 DECEMBER 2024 **Trustees** **Charity Number Registered Office Independent Examiner** Jeremy Forty Barbara Harris Michael MacCarthy Allan Nichols Ben Williams Jennifer Ball 263259 35 Dawson Drive Hextable BR8 7PN Sandra Hipwell 2 ## **PLUMSTEAD ALMSHOUSES** ## **CONTENTS** ||**CONTENTS**| |---|---| ||FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees' Report
4
Independent Examiner's Report
5
Statement of Financial Activities
6
Balance Sheet
7
Notes to the Financial Statements
8| ||| 3 ## **PLUMSTEAD ALMSHOUSES** ## **TRUSTEES' REPORT** ## FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The Plumstead Almshouses is a small, registered charity. It currently consists of 20 apartments set out on the ground and first floor of ‘cottages’. These are situated on the corner of Plumstead Common. This year has been one of continued stability and thoughtful progress as we’ve worked to maintain a warm, safe, and supportive environment for all our residents. We welcomed a new resident, who joined us in April 2024 and is now living in the First Floor of Boxshall Cottage. Throughout the year, our occupancy rate remained high at 98.3%, demonstrating continued demand for our accommodation. A residents’ meeting was held in August 2024, providing an opportunity for feedback and community discussion. In line with our annual tradition, Christmas vouchers of £50 were distributed to all residents. We also carried out our beneficiary survey to gather resident feedback on living conditions and services. Significant maintenance and improvement works were completed during the year to ensure our properties remain comfortable and well-maintained. These included the full refurbishment of the First Floor of Boxshall Cottage, and bathroom refurbishments in both the Ground Floor of St Margaret’s Cottage and the Ground Floor of Colonel Cottage. To address a pest control issue, 21 rat traps were installed in the drainage system to prevent intrusion from the main drains. A new lawn was also laid in October 2024 to improve the shared garden and courtyard area. The trustees held a dedicated strategy day in April to review the charity’s long-term goals and priorities. In August, there was a change in leadership as Angus resigned from the board and Jennifer was appointed Chair of Trustees. During the year, we also undertook an investment review, which resulted in the sale of our individual shareholdings. The proceeds were reinvested in more diversified and ethical options, specifically the COIF Charities Investment Fund and the M&G Charitable Multi Asset Fund. As always, we are grateful to our beneficiaries, trustees and clerk to the trustees for their continued support and contribution to the life of our community. This report was approved by the trustee and signed on its behalf by: ---------------------------------------------------Jennifer Ball Trustee Date: 20 August 2025 4 ## **PLUMSTEAD ALMSHOUSES** ## **INDEPENDENT EXAMINER'S REPORT** ## FOR THE YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examination of the accounts of the Charity for the year ended 31 December 2024. As the Charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under Section 145(5) (b) of the Act. ## **Independent examiner’s statement** I am qualified to undertake the examination by being a qualified fellow member of the AAT. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: -the accounting records were not kept in accordance with section 130 of the Charities Act; or accounting records; or -the accounts did not accord with the accounting reports; or -the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sandra Hipwell FMAAT Name: Sandra Hipwell Date: 20 August 2025 5 ## **PLUMSTEAD ALMSHOUSES** ## **STATEMENT OF FINANCIAL ACTIVITIES** FOR THE YEAR ENDED 31 DECEMBER 2024 |**Recommended**
**categories by activity**
**Notes**|**Unrestricted**
**funds**
**£**
**Restricted**
**income**
**funds**
**£**
**Total**
**Funds 2024**
**£**
**Total**
**Funds 2023**
**£**
124,395.00
-
124,395.00
116,280.00
**124,395.00**
**-**
**124,395.00**
**116,280.00**
35,495.00
-
35,495.00
33,185.00
45,438.00
-
45,438.00
48,829.00
-
-
-
41.00
**80,933.00**
**-**
**80,933.00**
**82,055.00**
**43,462.00**
**-**
**43,462.00**
**34,225.00**
28,756.00
-
28,756.00
59,076.00| |---|---| |**Income from:**|| ||| |Unrestricted income
2|| ||| |**Total**|| ||| |**Expenditure on:**|| ||| |Raising funds
3|| ||| |Charitable activities
4|| ||| |Other|| ||| |**Total**|| |**Net**
**income/(expenditure)**
Other recognised
gains/(losses):
Gains and losses on
revaluation of fixed
assets for the charity’s
own use
**Net movement in**
**funds**
**Reconciliation of**
**funds:**
Total funds brought
forward
**Total funds carried**
**forward**|| ||**72,218.00**
**-**
**72,218.00**
**93,301.00**
1,171,232.00
250,000.00
1,421,232.00
1,327,931.00
**1,243,450.00**
**250,000.00**
**1,493,450.00**
**1,421,232.00**| 6 ## **PLUMSTEAD ALMSHOUSES** ## **BALANCE SHEET** FOR THE YEAR ENDED 31 DECEMBER 2024 **----- Start of picture text -----**
Restricted Total Total
Recommended categories Unrestricted income Funds Funds
Notes
by activity funds funds 2024 2023
£ £ £ £
Fixed assets
Investments 6 1,083,580.00 250,000.00 1,333,580.00 1,304,062.00
Total fixed assets 1,083,580.00 250,000.00 1,333,580.00 1,304,062.00
Current assets
Debtors 7 1,433.00 - 1,433.00 1,406.00
Cash at bank and in hand 8 158,557.00 - 158,557.00 115,824.00
Total current assets 159,990.00 - 159,990.00 117,230.00
Creditors: amounts falling
9 120.00 - 120.00 60.00
due within one year
Net current
159,870.00 - 159,870.00 117,170.00
assets/(liabilities)
Total net assets or
1,243,450.00 250,000.00 1,493,450.00 1,421,232.00
liabilities
Funds of the Charity
Unrestricted funds 10 1,243,450.00 1,243,450.00 1,171,232.00
Restricted income funds 10 250,000.00 250,000.00 250,000.00
Total funds 1,243,450.00 250,000.00 1,493,450.00 1,421,232.00
**----- End of picture text -----**
The financial statements were approved by the trustees on 20 August 2025 and signed on its behalf by: Jennifer Ball Trustee Date: 20 August 2025 7 ## **PLUMSTEAD ALMSHOUSES** ## **NOTES TO THE FINANCIAL STATEMENTS** FOR THE YEAR ENDED 31 DECEMBER 2024 ## **1. Accounting Policies** The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows. ## **1.1 Basis of preparation** These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation. These accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. These accounts are presented in pounds sterling and rounded to the nearest pound. ## **1.2 Going concern** The trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts. ## **1.3 Permanent endowment assets and contingent assets excluded from the Balance Sheet** The Freehold of the Almshouses situated in Heavitree Road and Waverley Crescent, Plumstead is not included in the financial statements. Reliable cost information is not available for the Almshouses and in the opinion of the trustees a valuation would involve significant costs which would be onerous compared with any benefit derived by users of the financial statements. Costs of improvements to the properties are included in Charitable Expenses 8 ## **2. Income from Investments** **----- Start of picture text -----**
Analysis Unrestricted funds Total funds 2024 Total funds 2023
£ £ £
Dividend
43,046.00 43,046.00 40,296.00
income
Interest
3,512.00 3,512.00 1,300.00
income
Rental
and
77,837.00 77,837.00 74,684.00
leasing
income
124,395.00 124,395.00 116,280.00
3. Expenditure on Raising Funds
Analysis Total funds 2024 Total funds 2023
£ £
Rent collection, property repairs and
35,495.00 33,185.00
maintenance charges
35,495.00 33,185.00
**----- End of picture text -----**
The above figure is made up from the following expenditure: Garden maintenance £2,070 Improvements £7,744 Repairs and renewals £25,681 ## **4. Expenditure on Charitable Activities** **----- Start of picture text -----**
Total funds 2024 Total funds 2023
Analysis £ £
Charity running cost 34,574.00 31,675.00
Cost of services 9,471.00 8,412.00
Legal/professional fees 193.00 7,602.00
Support Costs 1,200.00 1,140.00
45,438.00 48,829.00
Charity running cost in the year relates to administration expenses
Cost of services is made up of the following items:
Council tax £25
Insurance £2,840
Light heat and water £6,606
Legal and professional fees relate to bank charges of £111 and TV licence cost of £82
**----- End of picture text -----**
9 ## **5. Support Costs** **----- Start of picture text -----**
Total funds 2024 Total funds 2023
Analysis £ £
Governance Costs
Accountants fees 1,200.00 1,140.00
1,200.00 1,140.00
**----- End of picture text -----**
## **6. Investments** |**Carrying(fair) value at beginning of period**
Add: additions to investments during period
Add / (deduct): net gain / (loss)on revaluation
Carrying(fair) value at end of year|**Listed Investments**|**Listed Investments**| |---|---|---| |||| |||**£**| |||| |||1,304,062.00| |||| |||762.00| |||| |||28,756.00| |||| |||**1,333,580.00**| The charity has bought and sold a number of investments during the year creating a net increase of £761.65 ## **7. Debtors: Amounts falling due within one year** **----- Start of picture text -----**
Total funds 2024 Total funds 2023
£ £
Prepayments & accrued income 1,433.00 1,406.00
1,433.00 1,406.00
**----- End of picture text -----**
The above figure relates to insurance prepaid in the year. ## **8. Cash at bank and in hand** **----- Start of picture text -----**
Total funds 2024 Total funds 2023
£ £
Cash at bank and in hand 158,557.00 115,824.00
158,557.00 115,824.00
**----- End of picture text -----**
10 ## **9. Creditors: Amounts falling due within one year** **----- Start of picture text -----**
Total funds 2024 Total funds 2023
£ £
Accruals and deferred income 120.00 60.00
120.00 60.00
**----- End of picture text -----**
The above accrual is for accountancy bringing the total cost for the year at £1,200 ## **10. Charity funds** ## **10.1 Details of material funds held and movements during the current reporting period** **----- Start of picture text -----**
Fund Fund
balances Gains and balances
Income Expenditure Transfers
Fund names brought losses carried
forward forward
£ £ £ £ £ £
Unrestricted
funds
Unrestricted
General 1,171,232.00 124,395.00 80,933.00 - 28,756.00 1,243,450.00
Funds
Restricted
income
funds
Restricted
income 250,000.00 - - - - 250,000.00
funds
Total 1,421,232.00 124,395.00 80,933.00 - 28,756.00 1,493,450.00
**----- End of picture text -----**
11 ## **10.2 Details of material funds held and movements during the previous reporting period** **----- Start of picture text -----**
Fund Fund
balances Gains and balances
Income Expenditure Transfers
Fund names brought losses carried
forward forward
£ £ £ £ £ £
Unrestricted
funds
Unrestricted
General 1,077,931.00 116,280.00 82,055.00 - 59,076.00 1,171,232.00
Funds
Restricted
income
funds
Restricted
income 250,000.00 - - - - 250,000.00
funds
Total 1,327,931.00 116,280.00 82,055.00 - 59,076.00 1,421,232.00
11. Average Number of Employees
Average Employees This year Last year
The charity does not operate a payroll scheme / employ any
0 0
personnel
Total Employees 0 0
**----- End of picture text -----**
Average number of employees during this year: 0 and Last year: 0 12