VILLAGE HOUSING
CHARIT
LE TRUST
FINANCIAL STATE
THE YEAR E
30 SEPTE
ER 2022
NTSF
Charity Registration Number: 268886
LOCKINGE ESTATE OFFICE,
ARDINGTON, WANTAGE, OXFORDSHIRE, OX12 8PP

VILLAGE HOUSING CHAIUTABLE TRUSJ.
INDEX
Year ended 30 September 2022
TRUSTF,ES' REPORT
INDEPENDENT AUDITOR'S REPORT
STATEMENT OF FINANCIAL AC'TIVITIES
BALANCI,SHEET
10
NOTES TO THE FtNANCIAL STATEMENTS

VILLA(yE HOUSING CHAEUTABLE TRUST
TRIJSTEES, REPORT
Year ended 30 September 2022
The T￿￿teeS submit their report and accounts for the year cndcd 30 S¢ptCTnbcr 2022.
CONS'I'ITUTJON
-rh¢ I rust is ¢oi)stiiut¢d by th¢ Trust Deed daled 24th March 1974 following a settlement by Mr C L Loyd
of certain house5 in the villages of Ardington aE)d LockingFe on ¢A¢lusively charitable Irusts. Addilional
properties have been settled by Mr l.oyd since 1974.
OBJECTIVE
The objectives of the Trust are to provide housing and associated amenities for persons in necessitous
circuinstances upon tenns appropriate to their means and for this purpos¢ to ¢onstw¢L improve or manage
or facilitate or encourdLie the construction or improvement ofhouses.
8TATIJ8
'rhe'l'rust is a registered charity (C￿ty Commission Registration No. 268886).
TRIJS'I'EES
Tlie Trustees who served during the year were as follows-
T C Loyd, Dr E A Boon, C Merry, Mrs M Greig and the Honourable W Cadogan.
SELECTION AND APPOINTMENT OF TRUSTEES
Wh¢n a nLed for a ncw -frustec is id¢ntificd, thc cxisting Trust¢¢s will review the eligibility criteria for
Trustees, agree what skills, experience and knowl¢dg¢ ar¢ n¢eded agree <1 pfoLe5s fur recruiiment.
The Trusl¢L% will th¢ best method for attracting candidatcs and intelview ihc candidates cquilably
agairLSt the agreed criteria.
The preferred Candidate will be identified and invited to join the Trustees, subject to references, fonna]
vetting and approval of thc Trustcc board. Thc Txrson nominated for appoinlmcnt as Trustee will be
required to sign a declaration of his or her eligibility to act as a'l'rustee in a fonn acceptable to the Trustees.
The vetting will encompass disqualification checks, conflicts of interests and if appropriate, Disclosure
and Barring Service.
Appropriate snformation will be mad¢ available lo thc potential Trustees at cither the interview stage or
the nomination stage about Trustee duties and responsibilities, the C])arity in¢luding its obje¢tives, its
a¢¢ounts. the trusi deed8 and th¢ cxisting'l'rustees.
A newly appointed Trustee will be offered and given appropriate induction and training.
TRANSACTIONS WITH TRUSTEES
Pleasc sec Notc 7 to the accounts for details oftransactions with the Trustees.
INVESTMENT
The Trustees have power of investment as an absolufr Ixneficial owner.
REMUNEIL4'1'10N
None of the Trustees received any r¢munera¢ion during the year.

VILLAGL HOUSING CHARI'I"ABLE TRUST
TRUSTEES. REPORT (continued)
Year ended 30 8epteEnber 2022
ORGANISATION
The Trustees mcec periodically in ordcr lo discuss the management of the properties and to ￿ant tenancies
to necessitous ￿rsOnS in ac¢ordance with th¢ Trust Deed.
The day-to-day management 1$ Larried out by the Managyng Agents, Adkin, Chartered Suryeyors. at a fee
agreed by the parties.
PRtNCIPAL OFFICE
Lo¢kinge Estate Office
Ardington, Wantage. Oxon, OX12 8PP
AUDITORS
Dixon Wilson Audit services LLP
22 Chan¢¢ry Lane, London WC2A ILS
BANKERS
Barclays Bank plc
17 Market Place. Wantage, Oxon, OX12 8AG
SOLICITORS
Knighis plc
Midland House, West Way. Oxford, OX2 OPH
MANA(ilNG AGENTS
Adkin. Chortered Surveyors
Orpwood House, Ardingtun. Wantage OX12 8PQ
TRUSTEES, ￿,SPoNSIBILITIE
The Trusteeg are responsible for preparing the l-rustecs, report and th¢ financial ststemeTrts in arcordance
with applicable law and lJnited Kingdom Accounting Stand￿d$. Thc law applicablc to charities in
F.ngland and Wales requires the trustees to prepare financial ststements for cach financial year which give
a true and fair view of the state of affairs of the Charity and of the incoming resourLes and appliealion of
r¢sources of the charity for that period. In preparing these financial statements, the trustees arc required
to..
8eleLt suitable accounting polici￿ and thcn apply Ih¢tn consistently.
observe the m¢thod5 and principles of ihc Charities 8ORP-
mak¢ judgeiiicniy and acwunting estimale5 that are reasonable and prudent-
state whdher applicable accounting standards have been followed, 8ubje¢l to any departures disclos
and explained in ihe tinanciai statemenis- and
prepare the financial statements on the going coucern bagis unless it is inappropriate to presume that
the charity will continue in business.
I'he Trusl¢es are responsible for keeping accounting records which disclose with reasonable ￿¢Ur&¢Y the
financial position of the charity and enabl¢ them to ensure that the financial statements comply with the
Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust
deed. They are also responsible for safeguarding the assets of the charity and hence fur taking reasonable
steps for the prevention and detection of fraud and other trr¢gularities.
EVtEW OF THF. YEAR
During the year, the followtng activities in pursuance of its Obje¢tives as set out on Page 2 were undertaken
by the Trust..
MaiTrtcnanee and Re
airs the Trustees continue to tnaintain thc portfolio of properti¢s with
particular emphasis being placed upon the needs of the elderly, less able tenants and young people.
This includes internal decorntion. gardening assisiance and other help when reqllired. The Trustees
expended £232,003 (2021- £205.339} on the maintenance of the existing portfolio of properties.

VII,I.AGE FIOUSING CHARI'I-ABLE'I'RUS'I.
TRUSTEES: REPORT {conlinued)
Year ended 30 Septcmber 2022
Pro
rovements- the Tn]stees continue to ¢any out impriivements to the housing stock by
upgrading the fa¢ilities such as kitchens, bathrooms, healing and other inslallations partiiularly
when a property falls va¢anl and is due for refurbishment prior lo re-letting. In dddition, facilities
such as showers. stairlifts and hand rails are providcd to assist elderly and less able tcnants. The
Trustees did not make any expcnditurc (2021 £99.810) of a capital improvemeni nature in the
year, excluding n¢w housing.
New Housi
there has been no new housing developments for the year.
Potential Develo
ment Land - the paddocks. which the Trust owns within the village of East
Ilsley, offer long lem] potential for rcsidcntia] development together with various community
bcnefits including a site for affordable n]ral housing subject to planniiig coi)sent bcing granted by
the Local Authority concemed. To this end, a Promotion Agreement been entered inlo with
Manor Oak Homes, to promote the site for development at the Compdny's risk and progress is
being made towards the point at which a planning application can be submitted with the Parish
Council sup]x)rt.
Kisk- the Trubt¢¢5 have considered the risks to which the Charily is exposed and have Concluded
that due to the number of properties within the portfolio, the ongoing maintenance programme,
the occupancy rdte in recent years. the average number of applicants on ihe wailing list and the
geographic spread of the dwellings, the risks of a signifi¢ant fall in renta] income or a major
increase in the repair liabilities suddenly arising are limited.
Pcrforniance
The Trustees at their meetings rcview the performance of the Trust against its Charitabl¢
Objectives, which arc set out on pagc 2. In particular they consider the occupancy l¢vels, the
necessitous circum%tan¢es of the tenants, the age range of the tenants and ihe maintenance and
development of th¢ Trusl's properties. The performance statistics showed the followiiig changes
between 2022 and 2021..
2022
58
2021
58
Total nutnber of residcntial properties
Properties vacant and being refurbishedlrc-let
Total numb¢r of tcnants
Age range of tenants
86
33/0
26%
83
1845
46-59
60+
Number of children of tenants
30V/D
270/D
430/0
12
13
There is furthcr inforn)ation in the Publi¢ B¢nefit section below as to how the obje¢tivcs are met
and the above statistics are referred to at the end of that S¢Llion.
ENEPIT
The Trustccs continue to carry out the Charity's aims for the public benefit.
'rhe Trustees, having regard to the Public Benefit guidance published by the Charity Commission in
aL'Lordance with section 17 of the Charities Act 2011, consider ihat the purposc and the activities of th¢
Charity satisfy lh¢ requiretnents of the Public Benefit t¢51 sct out iri Section 4 of the sam¢ Act.
The aims are intended to beTJefit those members ofihe public who need to live in the villages of Ardington
dnd Lo¢kingc for the purposes OF employment, retirement or in order to make A contribution to the work
of the local community, through providing them with affordable rural housing at less than the open markel
rental value for similar properties in the locality.

VJLI,AGE HOUSING CHARI'I'ABLF TRUST
'I'RUSI'LES' REPOR'I, {continued)
Year ended 30 September 2022
The property Portfolio incl￿{¢8 bungalows and cottagos which have be¢n adapted to include stairlifts, wet
rooms and other facilities, and which therefore ar¢ particularly suitable for access and occupation by the
elderly and by ￿tsons with ¢1 disability. As shown in the aix>ve Perfonnance Rcview slatistics, the Trustees
also seek to maintain & variable mix in the age range of tenants in order to preserv¢ the balance of life in
the local community.
F￿ANcIAl. POSITION
During the year, the Trust received incorne OF £394,676 {2021 £385.266) including interesL of which
£352,066 (2021- £321.398) wab spenl on maintenance. repairs, managemcnl, pr0fcss1on￿ fees, insurance
and oth¢r overheads as set uut in the 8tatemLnt of Financial Activities (page 9)- There was no capital
expenditure in ihc year (2021 £99,810}.
RF.SERVES POLICY
Any surplus it)come is retained by the Tri]st in order to build up reserv¢5 for the purchase ol a(klitional
properties or land on which ncw dwellings can be construcfrd to further the overall objectives.
At 30, Seplemb¢r 2022 the net Current a&set txbsition showed a surplus of £180,370 (2021- £137,760).
The ongoing policy of the Trustees is to retain 8urpliL8 income for the improvement of the existing housing
stock as required and in die m¢dium temi to build up reserves for the consinKtion of new prowties which
may require land to be purchased in the r￿st instance.
CyotNG CONCLRN POLICY
The Trustees have ¢onlinued to adopt the going concern basis for these financial statements, as there are
no material un¢ert&inties ideniificd that may cast doubt about the Trust's ability to ¢untinue as a going
con¢crn for thc foreseeablc future. The bank loan which replaced the bank overdraft facility i.q expected to
proyidc the Trust with sufficient working capilal for planned operations for at least 12 months following
the approval of these accounts.
ACCOtffttTS
These accounis have been drawn up in accordance with the r¢levant provisions of the Charities A¢t 2011,
the FRS102 Statement of Recommended Prathice: Accounting and Reporting for Charities {SORP 2019)
and lh¢ Trust DeLd.
STATEMENT AS TO DISCLOSURE TO OUR AUDI'I"ORS
In so far as the Trustees are aw2r¢ at the time of approving our'l-rus(eeg' report..
there is no relev8nt infornation, being inforniation needed by the auditor in connection with preparing
their report. of which the charity's auditor is unaware. and
eacli 'frusfre has taken all lh¢ steps that helshe ou¥ht to have taken as a Trustee in order to mak¢
themselves aware of any relevant audit inforn)ation and to e8tablish that the charity's auditors are
aware of that infom?ation.
For and on behalf of th¢ Trustees-
T.C LOYD
Date..
Tr￿￿te£

VILLAGF. HOIJSING CFIARITABLE TRUST
INDEPENDEN'I. AUDII'OR'S REPORT
Year ended 30 September 2022
INDF.PENDEKf AUDITOR'S REPOR"r TO TIIE TRUSTEES OF THE VILLAGE HOUSING
CHARII"ABI.F. TRUST
Oplnlo
We have audited the financial stat¢ments of Village Housing Charitable Tr￿t (the 'clwiiy') for the year ended
JQ S¢plcmber 2022 which eomprisc the statement of tirwn¢ial activitiei ba]ance sheEt, aod notes tt) the fjndncial
statements. including a summary of significant accounting pulicies. Th¢ fITran¢ial reporting frdmewurk ih* has
been applied in theirptwaration 15 applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial R¢rrf)rting Stsndard applirablc in the UK and Repllbli¢ of Ireland (United
Kingdom Generdlly A£￿pt¢d Accouniing Pra¢1]￿>.
In our OPillÉOE4 the fmancial stxt¢m¢nts'.
'give atwe and fair viewofthe state ofthe charity's affairs as at 30th Septcmber2022 and of its incomingresources
and application of resources, in¢luding its income S￿d expenditure, fijrthe ycar then ended;
.have been properly prepared in accordance with Unitcd Kingdom Generally Accept¢d Accounting Ptacti¢¢'
.have been prep8rcd in accordance with the r¢quircmcnts of the Charities Ad 2011.
Bgsls for opinion
Weconducted ouraudit in accordance with Int¢mationai Standalds ALKlitingT (UK) (ISAS IUK)) applicable
law. Our trsponsibilities under those standards are further de5LTitKd in the Auditor's ￿pOnsIbIlItI¢5 for the audit
of th¢ financial statements section of our i¢port. W¢ ar¢ independent ofthe charity in accordan￿ with the cthical
r¢quircments that atr rclcvant to our audit of the financial statem¢nts in thc UK, including the FRC'S Ethical
Standar4 and we have fulfill¢d our other ethi￿[ tEsp)nsibilitie5 in accordance with these requirements. We
believe that the audit evidence we hav¢ obtained is sufficient 4md appr()priatc to provide a basis for our opinion.
Conclusions reiailng to going eoncern
In auditing the financial statements. we have eoncludcd thai the directoPs usc of the going concun basis of
accounting in the prcparation of the financial statements is appropriatc.
B&￿cd on the work we have p¢rfornie& we have not identified any material unceriainties relating to events or
conditions that, individually or collectively, may cast signifi&2nt doLLbt on the charity's ability to continue as a
going concern for 8 t￿n0d of at le&*t twelve monthg from when th¢ fiT)Hn¢ial statemeftts were authoris¢d for i58ue.
Our responsibilities and the Tesponsibilities of the trustees with rwct to going concern are desCri￿d in the
relevant sections of this reixKt.
Other infor￿a￿On
The other infoTmation compris&8 th¢ infornmtion includ¢d in the trustees, atmual report, other than the financial
statements and our auditor'% ￿port thereon. The trust¢es respO￿lb[e for the other infomation. Our opinion on
the financial statemeJits does not cover th¢ other inforn?ation an(L except to the extent ()theTwise explicitly stated
in our repor¢ we do not exp￿$5 any form of assurance conclusion thereon.
In ￿rIneCtIOn with our audit of the financia] Statements. ourwonsibility is lo read th¢ other inforniation and, in
doing so, consider whether the other infomiation is materially inconsistent with th¢ financial statements or our

VILJ.AGE HOUSINCJ CHAIUTABLE TRUST
INDEPENDENT AUDITOR'S REPORT (continued)
Year ended 30 September 2022
knowledge obtained in the audit or othenvi5e appears to be materially misstaled. If we identify such material
inconsist¢n¢ies or appaTent ￿aterIa] mis51atements. we ￿e requited to deteTmine whether there is a material
misstatement in the fuJancia] slatements ora material misstatement of the other inf0m￿tiOn. If. b&8ed on the work
we have perfom?ed. we conclude that theE is a tnaterial misstatement of this other information, we are required
to report faL'L
We have nothing to rcport in this Jrgard.
Matters on whicb we are required to report by exeeptioD
We have nothing to report in respect of the following maiters in relation to which the Chariti¢s Act 2011 requires
us to r¢FOrt to you if, in our opinion-.
.the infomiatioTL given in the tn￿l¢es, annual rewrt 1% in¢onsist¢nl ill any maieria] respeet with the fu￿¢1a1
statcm¢iits' or
•the charity has not kept adequth accounting records. or
.th¢ IiTwicial statements nol in agrccment with the accounting records 2nd Teknrns,. or
•we hdve not received all the infornialion and explanations we require for our audiL
Responsibilities of trllstees
As explained more ￿ElY in the tru5tees' responsibilities statemeni set out on pagc 3, the tn￿teeS are responsible
for thc prepardtion of th¢ financial statements and for being satisfled that they giwe a true and fair vi¢w, and for
.guch intemal control as the trustees detemiine is necessary to enable the preparation of finan¢ial statements thai
are free from material misstatemen¢ whether due to fraud OT em)r.
In preparing the fir￿￿ela] statements, the trustees ￿ responsible for assessing the eharity's abiltty to continue as
a going Concern, disclosing, as dpplicable, matters related io going eoneem and usings the going concern b￿lS of
accounting unless the trustees either inl¢nd to liquid￿e the charity or tr> eease OFEration& or have no realisti¢
altemative but to do so.
Athditor'5 responsibilitics for the audlt of Ihe financial statsments
We have been apptsinted as auditor under ge¢tion 144 of the Charities Aet 2011 and report in ac£ordanLe with
regulations made under gectitsn 154 of that Act.
Our objective5 we to obtain reaqonable #bsurance about whether the financial statements as a whol¢ ar¢ free from
maieria] missraiemenL whether due to fraud or crror, and to issue an auditor's report that includes our opinion.
Reasonable assurdnce is a high level of ￿￿TanCe, but is not a guarantee that an audit wnducted in accordancc
with ISAS {IJK) will always detect & mlltertal Tnisslatcment when it exists. Misstat¢ments can arise from fraud or
error and are considered mat¢rial if, individually or in the aggregat¢, th¢y could re&8onably be expected to
influence the economi¢ de¢isions of users taken on the b&8is of these financial statetnents.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design pn)cedur¢s
in linc with our respr)nsibilit6es, outlincd above, to delect mdterial misstat¢menls in respecl of i)Tcgularitie4
including fraud. The extent to which our procedures are capable of detecting irregularitics, including fraud is
dctailed below..
We gained aTk understanding of the le8￿ and regulatory framework appli¢able to the charity by e()nsideringy
amongst other things. the jl￿1$dI¢ti0￿ in which itoperat¢¥ and considered the risk of acts by the charity thatwere
contrary io appliLable laws and regTrulations, includin&. fraud. We designed audit procedures to respond to the
assessed level of risL but recognised that the risk of not detecting a mateTial misstatement due to fraud i% highcr
than the risk of not detecting one resulting from ettor, as frnud may involve deliberdte conc£alment by, for
example, forgery or intentional mis￿prcsCAtat1Ons, or through collusEon.

VILLAGE 140USING CHARI'I'ABLE 'I'RUS'r
INDbPENDEN'f AUDII"OR'S REPORT (continued)
Year ended 30 September 2022
We focused on laws and regulations which eould give rise io a material mi&gtakment in the f￿￿KId1 slatements,
includin& but notlsmited to, Charities Act2011, the I,andloTd and Tenant Act 1985 and the Equality Aci 2010.
Out tests included enquiries with managcmcnt and enquiries of third parties, including property agents. bankers
and solicitors.
As tn our audit& we ￿s0 addressed the risk of managenKnt override of internal controls including testing
journals and evaluating wheth¢r ther¢ was eviden￿ of bi￿ by management that represented a risk of material
misstatement due to fraud.
There are inherent limitstions in the audit procedures described above and, the further removed non-¢omplian¢e
with laws and rebTulations is from th¢ ¢v¢nts and tranwtions rellectd in the f￿￿1￿1 statements, the less likely
we would berome aware of it. We did not identify any key audit matters r¢lating to irregularities, including fra￿1.
A further d¢s¢ription of our feSFN)nsibiliti¢s for th¢ audit of the finan¢ial ststements is locatrd on the Financial
Repurting CounL'il's website at: www.fr¢.or&uklauditorsresponsibilities. This descrtpiion forn)s Part of our
auditor's report.
Dixon Wilson Audit S¢rviccs LLP, Ststutory Auditor
22 Chancery Lane
London
WC2A ILS
31 July 2023
Date-.
Dixon Wilson Audit Serviees LLP 1$ eligible to a¢t as an audiior in teTmy of section 1212 of the Companies Act
2006.

vtLLAGE HOUSING CHARITABLF. TRUST
STATEMENTOF FINANCIAL AC'fIviTIES
Ye4r to 30 Se
tetnber 2022
ole
2022
2021
COME
Income from Charitable activities
Rents receivable
394,675
385,266
In¢om¢ Investment
Interest
TOTAL tNCOME AND ENDOWMENTS
394,676
385,266
EXPENDITURE
endii
e on Charitablc activitie
Property Tnaintenance and repairs
Rent payable
Ele¢tri¢ity and ga5
Rates and water ¢haTges
InsuMice
Pn)pcrty management
PTofvssionaJ and le9￿ fe¢$
Bank charges and interest
Suiidry adjninistration tosts
Sundry dIr￿tt charitsble expenditure
Adtninistrat￿oll fees
Audit fees
Accountancy fees
232.003
275
2,177
5,455
5.992
27,521
9.339
13,721
195
874
50,686
1,914
1,914
205.339
275
1,549
7,369
4,906
26,500
6.482
13.678
35
1,057
50,996
1.606
1.606
TOTAL EXPENDIIURE
352,066
321,398
NET MOVEMENT IN FUNDS
42.610
63,868
TOTAL FUNDS brought foThvaTd
4,08.3.922
4.020,054
TOTAL FUNDS ca￿led fo￿￿rd
4,126.532
4,083,922
All amounts are respect of ¢ontinuing a¢tivitie5 and ajl funds are unrestricted in their application.

VILI.AGE IIOUSJNG CIIARITABLE TKUST
BALANCE SHEET
As at 30 Se tcmbu 2029
Nofe
2022
2021
PROGRAMME Rf.LAfED INVESTMENTS
FTeehold land & buildings
4J50,162
4,350,162
CURRE￿ ASSETS
Debtot5
58,011
269.786
327.797
47,665
231681
C&8h at bank
279,346
CkEDITORS DUE WITHtN ONE YEAR
Creditvrs and accrnals
147.427
141.586
147.427
141,586
NET CUIUiENT ASSETS
180,370
137,760
CREDITORS DUE ATr"fER ONE YEAR
B￿k IA)an
1404,000)
1404,0001
NET ASSETS
4.126.532
4,083,922
RE,PRESENIED BI:
TOTAL UNRESTRICTED FUNDS
4,126.532
4.083,922
The finats¢ial statetnents on pages 9 to 14 wer¢ approved by the Trust¢es on 2810712023
and w¢re signed on their behalf by..
EABOON
ru5tee}
TCLOYD
{I'ruste¢)
10

VILLAGF. HOUSING CHARt'rABLE TRUST
NO'IES TO THE FINANCL4L S'I"A TF.MENTS
Asat30Se
tember 2022
I. ACCOIJNIING POLICIES
Thc financi￿ statements have becn ptEpar¢d in aceordantc with the finanLia] R¢wrtin8 StattdaTds applicab]e ill the
UK and licpublic of Ircland11.'RS1021, the Stat¢m¢ni of Rerojnmended PTacti(*'. ACcoUmti￿ and R¢wrting for
Charilies ISORP 20151 and thc ChaTilies Act 2011.
Vill08c I lousing Charitahle-l ￿￿( meets th¢ defmitton ofa public bcncfil ¢ntity under FRS102.
These f￿a￿ClaI stat¢tllenls been prcpared und¢r the hisioric31 Cost wnvention.
FUFtD ACCOUNTING
UT￿¢StrICted Funds arc available for use at thc discretion ofthe TnL5te¢s in further￿Ce of the genera] charitable
obje¢lives.
tksignatcd fi]nd& ofwhi¢h ther¢ ar¢ currcntly none: ar¢ unrtstricied fundb. which would bg transf¢￿d from the
gener￿ fund for Pth]cul￿ puTwb¢s or projccts at tht discrction of Ihc'FTUSt¢¢s.
R¢strictcd Funds, of wthich Ihcre are alw nune currently. would te fuftds. dimjated either foT Étp8rticularpuryo%¢
or the ￿¢ ofwhi¢h would be resiFiCteJ h) thai purrMI%. c QT B
INCOMfNG RESOURCES
All income. including Tcnt and intCK8t, is recognir£d and M)unied for when Ihe Chartry hbs enlitlemcni
to the fvnds. the amount call be quaniified and the￿ is Certainty of recei￿.
RE,SObRCES EXPENDED
All ¢xp¢ndiliir¢ Is Tecogni*d th¢re is a legal or construllive obligaiion io pay. Wh¢T¢ costs cannot he dircctly
aitributd to an expenditure headin& they will be allo¢atcd to activities on a knis ¢onsistent with the use of re50ur¢es.
PRO(iRAMME RELATED ￿Es"1mrNTs
Programme related invcsttnent% r¢pres¢nt residcntial prowiic8 held by the charity and which are let ￿l￿W mgrk¢t rcnt
in ordeT to providc affordable housing to the local community. Thc investments are hcld at cost with an annual
impairn)ent rcview ¢a]Tied ollt by the trustees.
TAXATION
Th¢ activitie8 ofthc Charity are exerttpi from COTwration ￿ un(l¢r part 10 of the It￿￿¢ T&x Act 2007 lo Ihe
¢xtent thai they are applied to the organisatton's charitable objectives. Therefor¢ no liability arises to tsxation
in viem. of the ¢xempiions aVa￿lable to the Trust as a ¢haTity.
PREPARATION OF ]HE ACCOUNTS ON A GOtNG CON(:P.RN BASIS
Ibc accounts havL been pr¢wed on agving conwm basis. Thc do not ￿lIeVe thcr¢ is any dDubi Dv¢rthe charilgs
ability to LM)ntinu¢ as a going o)tJccm. 'I'hc charity has madc a surplus Ihis year.
BASIC FTrIANCIAL tNSTRUMENTS
B&%ic financial instruments classified and 2CWUnt¢d for. &xording lo thc substan(t of the Contractu￿ arrangcmcttl,
financial 4sscis or fJnancig1 liabilitics. l inancia] ittstruTn¢nts arc initially recognised ￿ the 20WWit receivabl¢ or payynable including
any r¢lated transaction costs..
LEGAL I.'()RM
The Village Charitsble Trust i* SD unincoJy)rated charity rcgister¢d with ihc ChaTily evmmissiott in Ellgland & Wdl
Iclwity nurnbcr 2688861- Its ￿gIster¢d is L(￿kinge Estat¢ Offiec. ATdiDgton. Wantage, OxfoTdshirc, OX12 8PP.

VILLAGF. HOUStNG CHARI"I'ABLE TRUST
NofES TO THE FINANCIAL STATEMENTS
Asat308e
i¢mber 2022
2022
2021
2. PROGRAMME. RELATED INVESTMENrs
Freehold l.and & Building5- at eost
Cost bTOU8ht forward ￿ l Octob¢r 2021
4,350,162
4,250,352
Additions in
l Orpwood Padth)ck
23124 East Lo¢kinge
3,766
99,810
Cost Cgfti¢d fonward at 30 September 2022
4.350,162
4,350.162
The Trustees. ha*ing ¢arried out their annual impairment revtew. considff that there are no impairnients
n r¢Epect of the dbvve Progrdmm¢ Relaied Investmenis.
3. DEBTOtis
2022
2021
Trnde debtors
Prepayments
'I'¢nants' rent derM)sits held by 3rd party (see not¢ 4)
29,543
2,369
26.099
11,807
2.821
26,037
40,665
4. CREDITORS
2022
2021
Lockinge Trust15ee note 7)
TTade ercditors
Accruals
Defe￿ed Income
Cotnmtrcial Renr Deposits Held
Tenants, rent deposlts held by 3rd party (see note 3)
Oihtr creditors
98,217
13.934
3,770
2.007
2,400
26,1199
i.ooo
E47 427
105,308
2,164
3.672
2,005
2.400
26.037
141.586
Tenants, rent deposits are held by Adkin. chartOr￿ survey0￿.
12

VILLAGE HOUSING CHARITAFILE TRUS'I.
NO"fES TO IHE fiNANCIAL STATEMENTS
Asai30S¢
tember 2022
5. BANK LOANS & OVLRDRAFT
A bank loan of £404,000 linclllding £4.OIK> WTangement fce) h8s rq)laccd the ow¢rdTafl facility bejng for the sam¢ security.
Interest is payable al 3.04/0 per annum. and the loan is repayabl¢ on or before 10th April 2025. The loan is s¢¢ured on 1-4
OrDwood Paddock. S¢hwl Road. Ardittgton OX12 8RIJ.
6. FUNDS
2022
2021
Un￿Strict
Rtservcs
Brought forward at l Octob¢r 2021
Change in year
4,083.922
42,610
4.020,054
63.868
Carried forward * 30 Sept¢mber 2022
4 1265_32
4,083.922
7. F.MPLOYEES AND TRUSTEES
The Trust has no ¢mployees and no remunerntioD is p￿d to the Trustees12021- £Nil}.
Transac
s with Tru
Mr. T C Ix)yd Ès the life tenant of th¢ Lockin¥e Trust and as such had an Int¢￿t in various pllr¢hases of goods
and setwice5. including managycment, during the year to a total of £291,568 {2021- £367.002) in¢lusive of VA T.
Th¢ purchases w￿¢ tnade on a nomal trading basis.
No expenses We￿ reimbursed to the Trustees durillg the year12021- £Nill.
The amounts ow¢d tu Lockinge Trust at the y¢ar end are as set oul in note 4 on page 12.
8. TRANSAC.TIONS WITJ I AGENTS
Adkin: Chartered Surveyors> provided mana¥emellt and other profe$sionai s¢tV1￿ amounting to £27,521
in thc year12021 £26,500) inclusive of VAT.
9. TRANSACTIONS WITH RELATED PAR'ftES
The Loyd Lindsay Rooms are owned by the Cowitry Buildings Protection Trust, of which Mr T C Loyd is Pr¢sidcnt.
VHCI. has held their Trustee Meelin¥s ￿ Loyd Lindsay Roon)s to the valuc of £16112021- £Nill.
Oth¢r administration Costs are £196 (2021- £351.
10. FINANCIAL ASSETS AND LIABLLITIES
'I'he charity has fjnancial &sets and financial liabilities of a kind that qualify as basic financial instrumenLs. These are
initiallly re¢ogniscd at transaction vallle and Subsequently measured at their amorti5¢d cost.
Financial ass¢ts
2022
2021
Trade deb￿)￿$
Tenants, rent deposit5 held by 3rd paty (see note 4}
29,543
26.099
11,807
26,037
37.844
Financial liabiliii¢s
2022
2021
Bank loans & overdraft
Tradc creditors
other Creditors {Lwkinge Trusi, Aecruals,
Comm¢rcial a￿d lenant rent derK)sit)
404,000
13,934
404,000
2.164
101.617
133,745
519,551
539.909
13

VILLAGE HOUSIN(i CHARII'ABI.F. TRUS'I.
NOTES TO THE FINANC.IAL STA TEMF.NTS
As ai Jo S¢ptembcr 2022
I I. OBLItiATIONS UNDER OPERATtNG LEASbS
The total of ￿lUTe minimum l¢&s¢ payment receivable by VHCT as a lessor is as follows=
2022
2021
Not latcrthan one year
77,905
64,042
64,042
14