Flnanclal Ststeme
ded 31 December2023
For
Abbess Adellcla Chari
Charl
Commlsslon No. 268349
Connah Goldworthy
Chartered Certified Accountants
12 Statlon Court
Station Approach
Wlckford
Essex
SS117AT

ABBESS ADELICIA CHARrrY
Trustees. Annual Report
Rgglstered Charity Number
268349
Prlnclpal Address
12 Monkhams Drive
Woodford Green
Essex
IG8 OLQ
Trustsos
P Pet¢hey
Revd M Howse
M C Woods
R G Ll. Morgan
Governlng Document
Scheme of Slh February 1997
Obj8ctFves and a¢tlvlti
In 1981, following various negotiations and proposals be￿een the Chaimian of the Abbess Adelicia
Charity and the then Lord Salisbury, the owner of the Ilford Hospital Chapel complex, the sile,
inclLtding the Chapel and a £50,000 endowment was transferred lo the n￿lY formed Abbess
Adelicia Charf(y, which has admininslered the Iword Hospital complex ever since.
The main objectives of the Charity is the provi8￿fi and maintenance of Almshouses for poor
persons, for the benefit of the residents in the Almshouses of the Charity in such manner as the
T¥uslees think fil. from lime to lime and the maintenance of the Chapel and Chaplain's house.
Statement of policy on reserves
The Charity seeks to relain sufficient funds lo maintain the Chapel and Chaplain's house. Gwen the
historical nature of the slle. the Trustees, aim to achieve a small surplus each year lo InC￿88e
reserves lo use against future capi181 renovation8 and repairs.
The Trusle¢s dedare that they have approved the trustees, report above.
Signed on beha￿ of the charsty's Trustees..
P Pelchey
Chairman
Dated
Page 1

ABBESS ADELICIA CHARITY
Indep•ndent Examlnefs Report to the Trusts88 of the Abboss Adellcla Charlty
I report on the accounts of the trust for the year ended 31st De(xMl￿r 2023, which aTe set oul on the
attached pages.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
The charitys tru$(ees consider th81 an audit 18 not required for this year u￿r section 144121 of the
Charitps Act 2011 Ilhe 2011 Act) and that an Ind8P8ndetSt examination is needed.
It 18 my responsibility to..
Examine the accounts under sedion 145 of the 2011 Act.,
Follow procedures laKI down in the general directions given by the Charrty Commissioners
Section 14515llbl of the 2011 Act," and
State whether particular Matters have come to rny attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My exarn1nat￿n was rarrEd out in aecoidance wfth the General Directions given by the Chgrily Commv8sion.
An examinatK)n includes a ￿VIeW of the accounting records kept by the charity and a comparison ol the accounts
th th¢)se records. It also includes consideration ol any unusual items or discbsures in the acwunts. and
seeking explanations from the management committee (y)ncerning any such matters. The procedures undertaken
do not provide 811 the evidence that would be ￿qUired in a full audit, and Consequently I do not express an opinion
on the a¢¢ount$.
INDEPENOENT EXAMINER'S STATEMEwr
In connection wilh my oxamlnation, no matter has come lo my attents'on.
which gwes mtr reasonabEe Cause to believe that in any material ￿SpeCt the requI￿ents
to keep accounting reo)rds in a￿rdan￿ with secaion 130 of the 2011 Ad,. or
to prepare account$, which accord wth Ihèse accA)unting ￿or#S have not been met., or
121
to which, in my opinion. attention Shou￿ be drawn in order to enable a proper understand￿g of
the accounts lo be reached.
Conftah Goldsworthy
12 Station Court
station Approach
Wickford
Essex
E C PARKER FCCA
Dated
SS11 7AT
Page 2

A8BESS ADELICIA CHARITY
STATEMENT OF FINANCIAL ACTivifiES
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
Total
2022
Not•s
INC
URCES
Donatlons
Leg8Cy
Donatlon trorn Frf8rvJs of the Chapel
othor In¢om•
N81 dividends received
Deposll account inter•st (Grossl
Rentsl In¢ome
9,019
9,019
8,887
42,102
42,102
39,529
9,019
42,102
51,121
48,416
Total Incomlng Resourc8S
9.019
42,102
51,121
48.416
RESOURCES EXPENDED
Dlrect Charltsblo actlvSEI88
Property rtpairs
Property Insurance
Notting Hill Genesis Charge5-.-
Property Management Charges
Maintenance and I￿ural￿e
Mortg8ge Int8rn5t
8.419
8,419
6.249
4,259
7,281
8,409
4,259
7,261
8,409
4,259
4.179
4,890
8,419
19,929
26,347
19,577
Gov8rnan¢o Costs
Telephone & admin exps
A¢wunlanGy
Share Registrars & Brokers fe88
H￿orIS¥U￿
m$house$ subs￿1p11on
870
870
870
2,334
216
216
197
3,401
Totsl Rosourcas Exp8nd8d
9,845
19,929
29,773
22,978
Net Incomlngl (Outgoing) Rtsoure¢s
for th8 year
823
N8lgalnllbssl on Inv8strn8nt assets
114,3401
114,3401
40,387
Adlu$tm8nt Be￿een Fund5
Nel movemerst In lund$
11S,1651
22,174
7,007
65,825
Fund b8lan¢os brought lo￿ard
8118tJanuary 2￿23
199,158
,935
463,227
397,402
Fund balances carrled fonward
t 31$t Docgmber 2023
183.993
286.109
470,234
463.227
Page 3

A8BESS ADELICIA CHARITY
8ALANCE SHEET
AS AT 31 DECEMBER 2023
FIXED ASSETS
Property Improvemer¥ts. at cost
Chap81 and AITnhou50
408.033
408.633
Investments- ot marketvaluo
SlcdK$ and Se¢urilie5
194,014
209.397
$03.247
818,030
CURRENT ASSETS
Petty Cash Balance
Bank Cuttent A¢¢ouht
Bathk Deposit Account
Ste￿brOkers Cash Deposits
Prepoyments
Capital Inve$lm¢nt Funds h8kJ by Gono$1#
3.652
3.893
1.764
3.352
13,255
1,321
3,067
12,401
20,682
CURRENT LIABILITIES
¢redRors and A¢cw&L8
Stockbrokers Sett￿ment A¢Munl
2,610
1,740
1.740
NET CURRENT ASSETSI ILIABILITIESI
19,413
18,942
LONG TERM LIABLITIES
Mortgage
11S2,5601
1173,8791
NET ASSETS
470,100
463,093
FINANCED BY:
Unr88trlcted Fund:
Accumulaled Suiplu$
183,993
199.158
Rastrlctsd Proparty Fund
Pro￿$lon for Fvture Cap*al Investmtrnt
288,109
263,935
470,1
483.093
Approvad by th8 Trustees on.......
and 8vJn8d on ts b8h8Wby P Petcw..............
Page 4

ABBESS ADELICIA CHARITY
NQTE5 TO THE ACCOUNTS
AS AT 31 DECEMBER 2023
1 ACCOUNllNG POLICIES
al Ba51s ol Accountimg
The fln8ndal $tatements have btron prepawd undor Ihe hkqtorl¢81 cost convenllon,as modllled by the
revaluation of Inve$lmenl$. and in a¢¢ofdgn¢e with appll¢ab18 accountlng Sta￿81￿$ and Ihe
Stalgfflent of Recomrnended Practice.. AcGounting and Reportirtg by Charilles preparin9 their
a¢counts in accordance with the Financial Reporting Standard appll¢able in the UK and Irelgrnl
IFRS 1021 and wth the Charit￿5 Act 2011.
bl Inve8tmeTrts
Fixed asset investments are slated at market value in accordance with the Statement of
Recommended Practlce. The Slatsment of Financial AGthitbs iTKludey Iho3e unreallsed galns and
losses arKsing from the revaluation ef the investment portfelio during the yearand doe5 not
d181ingui5h bebveen tho valuation 8djustfflents relating Io sgfe$ and those reL91ing lo ¢oniinu¥J
holdings 8s they logethe¥troaled as changes in the v8lue of the investment portfolio.
In¥8stment Income18 accountsd foron a rec￿Vab￿ b88i8.
cl Unrestrlcted Funds
Th8 unrestdcted funds comprke the aCc￿￿1818d 8$jr￿￿&8s th8t have b8en d&sbTrat8d for
spe¢rfic purposes. These 8r8 availabl8, atthe discretion of Ihe Trustees, for u86 in furtherance ol
the objective of the charity.
dl Restrlctsd Fund8
Funds le provk1e for property management, malnt6nance, repairs 8nd payment of rnortgage
caplal and inlerest to th8 Charitls propety hsve been established by the nel allocaliN of
costs Incurred In tho rennovalion of Ihe property fer r•nlal, less surplus nel rental income.
2 PROPERTY. HERITAGE ASSET
The propgrtyshown in the financial statements rdat8$ to Ihe Chap81 and Almhouses
al Iiford Hill. lfford, Éssex. ThL8 buikling 15 regard8d 8s an inalienable and a heritage as50t,
•nd the T¢u$lee$ ¢onsldaf there lo te b8 no valuation mathod that18 aFpropri8te or rek8vanl.
The bulkling, which h88 no historic cost. compriaes 8 Chapel, the fermerCh8plain's house and Aknshouses.
Th¥ Interfor ofth8 lomier Chawain's hou88 and th8 Almshousas was r8nnovat8d n 2006 at a cost or
£688,633, lunded by a loan of £408,633 K8nt by Sprlngboard Housing Association Llmited
and a granl of £280,000 from Lot¥Jon Borough of Redbrid￿, which was paid dlrect lo Springboard
Houslng Assodatlon Limltsd. The amount of £408,683 has been racorded as the book value.
Sprfngboatd Housing A$sodalM)n ￿Mited has subs8quentty changed its nam8 to Genesi8
Noysing Assodatlon Limrt8d.
11 15 the Ch8rity'$ prOd￿e trj malntaln this asset in a conllnual sta18 of sound repair and lo maka
trnprov￿ents Ih8relo tr￿￿ tlm8 to lkne and accordingly Ihe T￿￿￿eS con8kl8r that the value not
inpaired by Ihe passage of Ilme.
3 INVESTMENTS
The Investments ¢on$lst ol $horehoK1ngs and Govgmm8nt $o¢¥rtt*$ and OR sh
at market Valuo.
Th8 Inve8lm8ntswere valued al folbws...
2023
2022
At Cost
£111,222
£89,143
At m8rk8t V8lu8
£194,614
£209,397
4 PREPAYMENTS
2023
2022
pro￿ls1On for wepakl hsurance
3,352
3,[￿7
Pa9tr 5

AB8ESS ADELICIA CHARITY
NOTES TO THE ACCOUNTS- CONTINUÉD
AS AT 31 DECEMBER 2023
2023
2022
S PROVISION FOR FUTURE CAPITAL INVESTMENT
Bakn¢e brought fowdrd at 1st J8riu8ry 2023
12.401
11.547
d.. Addlllonal Fund$ $91951￿ In year
Balan¢e ¢arrkd fomard at 31st Oec8mb8r 2023
13.255
12,401
A Fund is hekl by GgnesS$ to PTovFde for lulure Capltal Investment.
6 CREDITORS AND ACCRUALS
Accountancy
2,610
1,740
2,610
7 GENESIS HOUSING ASSOCIATION LOAN A￿OuNT
B818nce brought foThvard at 1st January 2023
173,879
199,226
Less: Rental S￿0Me recefved
42,102
39,529
131,777
159,698
PTopety Man8g8rrÉnt Ch8rg8S
Malnl8nan¢e
Provision for Future Capilal Investment
Mortgaga Intorèst
4,259
7,261
854
8,409
4.259
4,179
8S4
4,8gO
14,182
20,783
Balan￿ eorried forw8rd a5 at 31st Decern￿r 2023
152.560
173,879
Thi8 kjan L% repakl fron rental Income that 1$ pakJ dlrectty to Ggn8si5 as the managing agents of Ih8
propety. After accountlng for ren1818xp&n888 and Mortgage Inte￿t. the net rental Income Is
against the outstanding mortgagE balance.
8 RESTRICTED PROPERTY FUND
Improvements to Herltage Asset- Bo¢kV8lue
888,833
688,633
Le$$'. Grant frorn Redbridgo Bcffjugh Council
280,000
280,000
408,633
408,633
Le$8.' Mortgage Balance- lo Genesi818ee note 7 above}
152,560
197,817
Add.. Transftr from Unrestrkled Funds
Brought Forward fiom pievlou8 ygar
Trafi51er In thtr year
18,915
16,915
16.915
Add.. Provsion for Future Capital Investment
Brought Forward from provknus
Prowsion in the year
12.401
854
13,255
12,401
Balance carfed forward at 318t DeC￿ber 2023
286.243
240,132
Page 6