VILLAGE HOUSING
CHARITABLE TRUST
FINANCIAL STATEMENTS FOR
THE YEAR ENDED
30 SEPTEMBER 2023
Charity Registration Number: 268886
LOCKINGE ESTATE OFFICE,
ARDINGTON, WANTAGE, OXFORDSHIRE, OX12 8PP

VILLAGE HOUSING CHARITABLE TRUST
INDEX
Year ended 30 Septembcr 2023
TRUSTC.ES' REPORT
DEPENDENT AUDITOR'S REPORT
STATEMENT OF FtNANCIAL ACTlVtTIES
BALANCE SIIEE,T
10
NOTE% TO THE F"INANCIAL STATCMENTS

vtLLAGE I.IOUSING CHAIUTABLE TRUST
TRUSTEES. REPORT
Year ended 30 Septembcr 2023
The Trustees submit their report and accounts for the year ended 30th September 2023.
LONSTITUTI
The Trust is constituted by the 'l'rust Deed dated 24 March 1974 following a settlement by Mr C L I,oyd
of certain houses in the villages of Ardington and Lockinge on exclusively charitable trusts. Additional
properties have b¢en settled by Mr Loyd sin¢e 1974.
OBJECTIVES
The objcctives of the Trust are to provide housing? and associated amLnities for persons in necessitous
circuiy)Stanc￿ upoii Icrnis appropriate to iheir means and for this PUTtx)se to construct, improve or manage
or facilitate or encourage the consttuction or improvement of houses.
STATUS
The Trust is a regist¢r¢d charity (Chajity Commission Registration No. 268886).
TRUSTF.ES
The Triistees who seryed during the year were as follows-.
T C Loyd, Dr E A Boon, C Meny, Mrs M Greig and the Honourable W Cadogan.
SELECTION AND APPOINTMI.NT or TRUSTEES
When a need for a new 'fn]stee is identifi¢d, the existing Trustees will review the eligibility criteria for
Trustees. a￿ee what skills, experience and knowledge are nccded and agree a process for reLruitment.
The Truste¢s will a¥ree the bcst method for attracting oandidates and interview the ¢andidates equitably
against the agreed criteria.
l-he preferred candidate will b¢ identified and invited to join the Trustees, SLsbject to references, forn)al
vetting and approval of the Trustee board. 'fhe p¢rion nominated for appointmcnt as Trustee will be
required to sign adeclaration ofhis or hereligibiliiy to act as a Trustee in a forni acceptabl¢ to the Trust¢¢s.
The vetling will encompass disqualification checks, conflicts of interests and if appropriate, Disclosure
and Barring Service.
Appropriate infonnation will be made available to the po)tentidl Truslees at eithcr the interview stage or
the nomination stage about Trustce duties and responsibiliiics. the Charity including ils objectives, its
acc(Jiints. the trust deeds and the existing Trustees.
A newly appointed Trustee will be offered and given appropriate induvtion and training.
TIiANSA
ONS WITH TRIJSTFES
Please see Note 7 to the accounts for details of transactions with the Trustees.
INVLSTMENT
The Trustees have power of investment as an absolutc beneficial owner.
Rf.MUNERAI'ION
None ofthc Trustees received any rerrLuneration during the year.

VILLAGE HOUSING CHARITABLE TRUST
TRUSTEES. RF.PORT (continued}
Year ended 30 Seplember 2023
ORGANISATION
The Truslees meet periodically in ordcrto discuss the management ofthe properties and to grant tCTJancies
to ne¢essilous persons in ac¢ordance with the Trust Deed.
The day-to-day managen]ent is carried out by the Managing Agents, Adkin, Chartered Surveyors, at a fee
agreed by the patties.
PRtNCIPAL OFFICE
Lockinge Estste Office
Ardington, Wantagc. Oxon, OXI 2 8PP
AUDITORS
Dixon Wilson Audit Seryices LLP
22 Chancery Lane, London WC2A ILS
BANKERS
Barclays Bank plc
17 Market Place, Wantage, Oxon, OXI 2 8AG
SOLICITORS
Knights plc
Midland House. West Way, Oxford, OX2 OPFI
MANAGING AGENT
Adkin, Chartered Surveyors
Orpwood Hou￿, Ardington, Wantage OX12 8PQ
TRUSTEES. RESPONSIBILITIES
The Trustees are respon8ible for preparing the Trustees. report and the financial siatemen(s in accordance
witl) applicablc law and lJiiilcd Kingdom Accounting Standards. The law appli¢able to ch￿1t]eS in
Lnglaiid and Wal¢s requires the trustees to prcpare financial statements for cach financial ye&r which give
a Ii'ue and fair view of the stale of affairs of ihe Charity and of the incoming resour¢¢s and application of
resourTrs of the charity for thal period. In preparing these financial statements. the ttustees are required
to..
select suitable a¢counting policies and then apply them consistently.
observe the methods and principles of the Charitics SORP.
TnuKe judgJ¢mcnts and accounTlng estimates that are reasonablc and prudent;
state whether appli￿ble accounting stdndards have been followe(L subject to any departurcs disclosed
and expl¢iined in the financial siatements. and
prcparc the financial statements on the going concem basis unl¢ss il is inappropriate io presume that
the Charity will continue in busin¢ss.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the
financiAI position of the Cliar￿tY and enable them lo cTrsure that the tinancial siaiemcnts comply with the
Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 alld the provi.%ions of the Irust
deed. They are also responsible for safeguarding the Assets of the charity and hence tor taking reasonable
steps for the prevention and detection of fraud and othcr irregularilies.
REVIEW OF THE YEAR
Durin&F the year, the following activities in pursuance of its Objectives as set out on Page 2 were undertaken
by the Trust-.
Mainlen<ince and Repairg
the Tru%tees continue to maintain the pnrtfolio of properties wIth
particular emphasis being placed upon ihe ￿eedS of the eldcrly, les8 able tenant$ and young peopl¢.
This includes internal decoraiion, gardening assistan¢¢ and other help whcn required.'fiie Trustees
expended £176,143 (2022 - £232,003) on the maintcnance of the existing por(folio of properties.

VII,LAGE I lOUStNG CIIARI'fABLE TRUST
TRUSTEES, REPORT (continued)
Year ¢ndcd 30 Seplcmber 2023
Im
rovement5- the Trustees continue to carry out improvements to the housing sto¢k by
upgrading Ihc faLilities such as kitchens, bathrooms, heating and other Ins￿l&ll0n$ Wicul¢￿1Y
when d property falls vacant and is due for refurbishment prior to re-letting. In addition, fdcilities
such as show¢rs, qtairlitts and hand rails are provided to assist clderly and less able tenants. The
Trustees spent £35,487 {2022 - £0) on expendilure of a capital improvement nature in the ycar.
excludin&F new housing.
New Housin
there has b¢¢n no new housing developments for th¢ year.
Polential Develo
ment Lan
the paddo¢ks, which the Trust owns within the village of East
Ilsley, offer long tenn ]J)t¢ntial for residential development together with various community
benefits including a site for affordable rural ho￿]ng SLibject to planning consent being granted by
the Local Authority concerned. To this end, a Promotion Agrcement has been entered into with
Manor Oak Homes, to promote the site for dcvelopment at the Company'5 risk and pro¥￿SS is
being mdde towards the point al which a planning application Can be submitted with the l>arish
Council support.
Risk- the Trustees have ¢onsidered the risks to which th¢ Charity is exposed and have Concluded
that due to the numb¢r of properties within th¢ porttolio. the ongoing maint¢nance programme,
the o¢cupancy rate in recent y¢df5, the average number of appliLants on the waiting list and the
geographic spr¢ad of the dwellings, the risks of a significani fall in rental income or a ￿aJor
increas¢ in the repair liabilities suddenly arising are liinited.
Perforniance
The Trustees at their meetings rcview the perfomiance of the Trust agtiinst its Charitable
Objectivcs. which are get out on page 2. In particular they consider the o¢oupancy lev¢ls, the
neccssitous cirLumstances of the tenanLq, the age range of the tenants and the maintenance and
development of the Trust's propertics. The perforn)anLe slatistics showed the following chang£%
between 2023 and 2022..
2023
58
2022
58
.1 olal llujnber ofresidentiai properties
Properties vacant and being refurbishe<Vr¢-let
Total number of tenants
AbFC r￿]6¢ ofLrTram3
88
33Yo
86
33/0
260/0
18-45
4&59
60+
Number of ¢hildren of tenants
14
13
There is fiirther infomiation in the Public Benefit section below as to how the objectives ar¢ met
and Ihc above statistics are referred to al th¢ end of that section.
UBLI
BENEFIT
The-fn]stecs continuc to carry out the Chariiy's aims for the public benefit.
'I'he Truste¢s, having regard to the Public Benefit guidance published by the Charity Commission in
aecordancc with section 17 of the Charities Act 2011. Consider that the purpose and the activities of the
Charity satisfv the requirements ot. the Public Benefit test sct out in section 4 of the same ACL
The aims are intended to benefit those members of the public who need to live in the villages of Ardington
and Lockingc for tlie purposes of employinenL r¢tirement or in order to make a contribution to the work
of tlie IoLdl Lointnunity, through providing th¢m with affordablc rural housing at less than the open market
rental value for similar properties in the lo¢ality.

VILLAGE HOUStNG CHARITABI.E TRUST
TRUSTF.F.S' REPORT (continued)
Year ended 30 Septeinber 2023
The property portfolio includes bungalows and cottag¢s which have been adapted to include stairlifts, wet
rooms and other facilities, and which therefore are particularly suitable for ac¢ess and occupation by the
elderly and by persons with a disability- As shown in thL above Perforniance Review statistics, the Trustees
also seek to maintain a variable mix in the agc range of tenants in ord¢r to preserve the balance of life in
Ihe local community.
FINANCIAL POSI"I'I
During the y¢2r, thc Trust received in¢ome of £415.355 (2022 - £394.676} includingF Interest, of which
£294,080 {2022 - £352.066) was spcnt on maintenan¢e, repairs, management, profcssional fees, insurance
and other ovcrheads as sel out in the Staiement of Financial Activities (pagc 8). Capital expcnditiire
aEkiounted to £35.487 (2022 - £0).
RF.SERVES POLICY
Any surplus incom¢ is retained by the Trust in order to build up rcsctves for the piirclia8e of additional
properties or land on whiLh new dwellings can be constructed to further the overall objectives.
At 30, September 2023 the nel current asset position showed a surplus of £266,158 (2022- £180,370).
The ongoing policy of the Trustees is to retain surplus income forthe imprcjvement of the existing housing
stock as required and in the medium lem to build up reserves for the Construction of new properties which
may require la]Id to be purchased in the first instance.
GOTN
CONCFRN POLICY
The .1 rustees have coiitinued to adopt the going concern basis for these financial statements, as there are
no material uncertainties identified that may cast doubl about th¢ Trust'8 ability to ¢ontinuc as a going
concern for th¢ foreseeable future. The bank loan which replaced the bank ovcrdraft facility is cxpected to
provide the Trust with sufficient working capital for plann¢d OFKrations for al least 12 months following
the approval ot these accounts.
ACCOUNTS
Th¢s¢ accounts have been drawn up in acwrdance with the rel¢vant provisions of the Charities Act 2011.
th¢ FRS102 Statement of Recommended Practice- Accounting and Reporting for Charities (SORP 2019)
and the Trust Detd.
STAI'L.MENT A
DISCLOSURF. TO OIJR AUDIT()RS
In so far as the Trustees arc aware at the time of approving Qui. Trustees, report-
th¢￿ is no relevant infonnation: being infortnation needed by th¢ wditor in connection with preparing
their report, ofwhich the charity's auditor is unawa￿. and
each Trustee has tukcn all the steps that helshe ought to have taken as a Tru%tee in order to tnakc
themselv¢s aware of any relevant audit infom]ation and to establish that the cliarity's auditors are
aware of that inforniation.
For and on behalf ofthe Trustees=
T.C I.OYD
Date..
Trnslee

VILLAGF. HQUStNG CHARITABLE TRIIST
INDF.PENDLNT AUDITOR'S REPORT
Year tnded 30 SepteM￿r 2023
tNDFPENDF.NT AUDII"OR'S REPORT TO THE TRUSTEES OF THE VtLLAGE HOUStNCJ
CHARITABLE TRUST
Opinion
We have audited the fir￿]cial statements of Village Housing Charitable Trust (the 'charity') foT the year ended
301h Septcmber 2023 which comprise the 5tatem¢nt olfinancial activities, ba]8n¢e sheeL l￿d notes to the financial
ststcments. including a summary of significant acwunting poli¢ies. The finan¢ia] reporting framework that has
been applied in theirpreparation is applicable Idw and United Kingidom AccounLin& Standards. includinbi Finaniial
Reporting StsndaTd ia2'1'he Financidl Re￿rtIng Standard appliLable in the UK and Republic of Ireland {Ilnited
Ksngdom GeneTally Accepted A¢Lounling Practice).
In our opinion, the fllLqncial slalements:
'give atrue and fair view ofthestateofthe charity'saffairs as at30th September2023 and of its in¢Thning resour¢es
and dpplication of resouree8, including its it)come and ¢xpcnditure, for the year thcn ended-
.hav¢ been properly prepared in 2ecordan¢e with United Kingdom Generally AcL¢pted Ac¢ounting Practice.
.have becT) prepared in accordan¢¢ with the requirements of the Charities ALt 2011.
B4si8 for opinion
We conducted our audit in accordance with Intemation￿ Stsndards on Auditin¥ (UK} (ISAS (UK)} and applicable
law. Our responsibilities under thuse standards are further des¥rib¢d in th¢ Auditor's responsibilities fTrr the audit
of th¢ financial ststcments se¢iion of our report. We are independent Of th¢ charity in ttccardance with the ethsca]
requiirments that ar¢ r¢l¢vant to our audit of the fmancial statements in the IJK, including thc FRC'S Ethicaj
Standard: and we have fulfill¢d our other ethical responsibilities in aecordanee with these requireinents. We
believe that the audit evid¢n¢e we have obtained is sufficient and appropTiate to provide a b&sis lor our opinion.
Comeluslons relating to going coneern
In auditing the financial ststements, w¢ have concluded that the director's use of the going concem basis of
accounting in the preparalion of the fInancial statements is appropriate.
Based on th¢ work we have perforn]ed, we have not identified any material uncertaintieg relating to events or
eonditinn8 thAt. irM4ividii*lly Dr c.nlle.elively. cA%t gi¥nifi('Ani d(Jiibt on ih* ¢'harily's ability to oontinuo 06
going Lon¢¢rn fora period of at least twelve tnonth5 from when the otiginal financial siaternents were authorised
ror issue.
Our restx)nsibilities and the resp￿IbIlItieS of the trustees with resF¢ct to going concern axe described in the
Televant sections of this report.
Other information
The other infomiation comprises the infom1￿10￿ included in th¢ trustees, annuai report nther than the fin￿￿1
Statements and our auditor's report thereon. The trustees are wsponsible for the othcr infamiation. Our opinion on
the finanLiai statements does not cover the Ott￿ inforniation and, except to the extent otherwise cxplicit]y stated
in our reporL we do not express any fom) of assurancc conclusion th¢rcon.
In connection with our audit of the financial statern¢n￿ our resFK)nsibility is to read the other irLfom)ation and, in
doing so, consider whethcr the other inforniation is materially inconsistent with the fIna￿claI slatements OT our

VIJ.LAGE HOUStNG CFIARITAF31,F. TRUST
INDLPENDENT AUI)ITOR'S REPORT (continued)
Year ended 30 September 21123
knowledge obtsined in the audit or otherwise apptrats to be maleria]ly misstated. If we identify such material
inconsistencies or apparent material misstaternenls, we ar¢ required to detem)ine wheth¢r there is a material
7nisststement in the fU￿nCl￿[ slatements or a material misst&rteTnent of the other inforn)atian. If, based on the work
we have perfornied, we conclude that there is a malerial misstaternent of this other infom)ation, we arc required
to report that fa¢L
We have nothing io report in this regar(L
Matter5 on whleh wc are required to report by exception
We havc nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires
us to ttport to you if, in our opinion..
.th¢ infom)ation given in thc trustees, annual rtport is iJ)consistenl in any material r¢spe¢i with the financial
statcments. or
.the charity ha5 not kept adequate accounting records" or
•thc firw)ciai statements a￿ not in agreement with th¢ a¢counting records and returns" Dr
•we have not rt¢¢ived a]1 the inf0M)￿lon and explanations we require for our audit.
Responslbilities frf trustses
As explained more ￿]lY in the trustees, responsibilities statement set out on page 3, the trtLStees are regpon5ible
foT the preparation of the financial statemenis and for betng satisfied that they bFive a true and fair view, and for
such intemal control as the trustees detemiine is necessary to enable the preparation of stLtements that
are fre¢ from Tnaterial misstatement. whether due to fraud or error.
In preparing the financial statem¢nts, the trustee5 are resFonsible for assessing the eharity's ability to continuc as
a going conccm, disclosingy, as applicable, matters related to guing concem and usinbT the going concern basis of
accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic
alternative but to do so.
Auditor's respoDsibilitics for the audit of the finaneial ststemeDts
We have been appointed as auditor under section 144 of the Charitie5 Act 2011 and rewrt in aecordance with
regulations made under section 154 of that Act.
Our objc¢tives are to obtain redsonable ￿gUranCe about whether the financi2] Statements as a whole ar¢ free froJJt
materiai misstalemenL whether duc Lo fraud or error, and to ISSUC an auditor's rcport that includes our opinion.
Rvdsonable assurance is a high level of assurance, but is nol a guarantee that an audit ci)nducted in accordance
with ISAS (UK) will alway8 detect a material misstatement when it exigts. Mi&statements can arise from frdud or
error and are considered material if. individually or in the aggregate, they wuld ￿asOnablY be expELted tt>
influenLe the economic decisions of users taken on the basis of these financial stateinents.
]￿egUlarItieS, including fraud, are instan¢¢s of non-Gompliancc with laws and regulations. We design pr(Kedures
in linc with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. Th¢ extent to which our pr(wdures are capable of detecting irregularilies, including fraud is
detailed bc10￿.:
We gitined an iinderstandsng OF the legal and regulatory framewo)l( applicablc to the charity by Considering,
aTnongst other thin&Ns, the jurisdiclions in which it 0￿￿t¢S and considered thc r￿sk ofacts by the charity that were
ontrary to appIl￿b]e law5 ar￿ regiulauons. including fraud. We de5igncd audit procedures to rcspond to the
ass¢s5ed Icvel of risk, but recogRised that the risk of n(A dctccting a material mi5slatemcnt due to fraud is higher
th￿] the risk of nol det¢cting iyne resulting from error, as frdud may involve delibcrate ¢onccalment by, for
example. lorgery or intenttonal misrepresentatiotjs, or Lhrough collusion.

VILLAGE I IOUSING CHARITABLE TRUST
INL)F.PF.NDENT AUDITOR'S RE,PORT (continu¢d)
Year ¢nded 30 September 2023
We focused on laws and regulations which could give rise to a mal£rial misstatement in the financial St8￿Ments.
including, but not limited ￿, Charities Act 2011, the Landlord and Tenant Act 1985 and the Equality Act 2010.
Our tests included ¢nquiries with management and enquiries ofthird parhes, including property agents, bankers
d solieitors.
As in all our audits, we also addressed th¢ risk of management ov¢rrid¢ of intemal controls, including testing
journa15 evalwdtin¥ whether there w8s ¢vidence of bias by management that represented a risk ot. material
miS51atemenl due to fraud.
Theft are inherent limitations in the audit procedures de5cribcd above and. the fLllth¢r removed non-¢omplian¢e
wÈth laws and regulations ss from the events and tranwtions refl¢Lted in the fmancial statem¢nts, the le55 likcly
we would become aware of it. We did not identify any key aL￿1t matters relating to irreLFularities, including fraud.
A further description of our respoTTrsibilities for the audit of the fll)aneia] statements is lot￿d on the Financial
Reporting Council's website at: www.frc.org.uk/audilorsresponsibilities. This description fomis part of our
auditor's report.
IJ L.IIL
Dixon Wilson Audit S¢rvice5 LLP, Statutory Auditor
22 Chancery L￿¢
London
WC2A ILS
Date..
2 July 2024
Dixon Wilson Audit Services LLP is elig￿b]e to act as an auditor in terms of section 1212 of the Coinpanies Act
2006.

VILLAGF PIOUSING CE￿RI"[ABLE TRUST
S'I'ATEMF.NT OF FTNANC.IAI. AC.TIVII'ILS
Year to 30 Se
tember 2023
2023
2022
Notes
INCOM
IncoTnc from c.haritable activities
Rents receivable
405,310
394.675
Income from Inv¢stments
Interest
2,345
her Incorne
Other In¢oTn¢
7,700
415.355
TOTAL INCOME AND ENDOWMENTS
394,676
F.NDITtJRE
enditur¢ on Charitable actiVSties
Property maintenance and ￿paIrS
Rent payable
Electricity and gas
Rales and water charges
Insurance
Property Tnanagement
Prof¢ssional and legal fees
Bank charges and interest
Bad debt provision
Sundry administraiion Costs
Sundry direct charitable expenditure
Adminibtration fees
Audit fees
Accountancy fees
176,143
275
2,815
5,293
7,532
28.801
1,031
13.702
232,003
275
2,177
5.455
5,992
27,521
9,339
13,721
70
1,615
52,721
2,041
2,041
195
874
50,686
1.914
TOTAL EXPENDITURE
294.080
332,066
NET MOVEMENT IN FUNDS
121.275
42,610
TOTAL FUNDS brought foTward
4,126,532
4,083,922
"I'OTAL FUNDS carried forward
4,247,807
4,126,532
All amollrtts ar¢ in respect of continuing ￿tIvitIeS and all funds are unrcstri¢ted in th¢iT application.

VILLAGE HOUSING CHARIT ABLE'I'RUS'I
IIALANC".F. SHEE'I.
Year to 30 September 2023
Nole
2023
2022
PROGRAMME RELATED ITWESTMEN'13
Freehold land & buildings
4,385,649
4,350,162
CURKENT ASSETS
Debtors
45.812
58.011
269 786
Cash at bank
377.956
327.797
C.REDtTOR8 DUE WITHIN ONE YEAR
CreditOT5 and a¢¢rua15
157,610
147.427
157,610
147,427
NET CURRENT ASSP.T5
266.158
180,370
CREDETORS DUE AFTER ONF. YEAR
Bank Loan
(404,000}
{404,000)
NET ASSETS
4,247.807
4,126.532
REPRESENTED BY..
TOTAL UNRESTRICTED FUNDS
4247,807
4,126,5i2
The financial statements on pages 9 to 14 werc approved by the Trustees on 17106124
and w¢re signed on their beha]fby'.
.EABOON
I'lrusteel
TC. I.OYD
{TJusteel
10

VILLAGE IIOIJ8ING C.HARI'I-ABLE TRUST
NOTES TO"fHE FINANCIAL STATF.NIENrs
Year to JO Se tcmber 2023
I. ACCQUN'rtNCJ POLICIF,S
Tlie financial SlulLm¢nls have be¢n prep￿d in accord￿¢¢ wilh Ihe Fi[￿¢1￿ Rcpotting Standtrds applicable it) the
UK and Republic of Ireland11,'K%102). Ihc SLit¢ment of Recojllmended Pwtic¢.' Accounting and R¢FN)rting for
Cknitics ISORP 211151 and the Chariiies Act 2011.
Village Housing Charitablc'l nisl meets the d¢finition of a public benefit entity under FRSIO2.
The* fjnaniiaj stat¢m¢nis have be¢n prewcd undeT the historical cost convcntion.
FUND ACCOUNTING
UnrcstriLi¢d fun(ts are availbbl¢ for at thc disurtion of the TrJskcs in furtheT8nLe of the general ¢haritabl¢
objecitves.
tksignthed fvnds, of w,hich there arc currently non¢, ar¢ unrestrictcd fulld￿ which would b¢ transferred from the
g¢n¢rul fund for p8ni¢ular purposes ur projects at thc disur¢tion of th¢ Trust￿5.
R¢stricicd Funds, of wfrich thre are ￿80 no>iic currenily, w()uld be funds dona*d eiihvi for a particular purpose
ur are4 the usc of wh&ch would be reStriCied to that puryx>8e or arw
INLDMtNG RESOURCES
All income: including Tettt and in￿rc5t. is r¢cogni5ed aJJd accounted Forwh¢n the Chariry has cntitlemenl
to the funds, the amouni Can be quantified and there is ¢¢rtainly of receipt.
RESOURCES EXPENOED
All expendiluTL' ib recogiiiscd when thtrc is a Icgal or ￿￿n$trULti￿e obligatiott to pay. WhErc cos15 cannot be diretily
attributed to an exp¢nditure headin& they will be ￿loCated to activities on a b&8is ¢onsistent with the use of reS0￿rres.
PROGL4MME RELATED INVESTMEN'I8
PrugTYtnm¢ related investsnents rcprcscni re%idtntial pr()Mits held by tlie cliarity end which are lei LElow market rent
n order to provide affordable housing to the local community. The inv¢5tmcnts ar¢ h¢ld at G05t with an annual
impaimient review carried out by the In]st¢es.
TAXATION
Thc &ctiiiitieg ot'thc Charitv are exempt frum corpvralion i&x under WdTI 10 of tlie Income Tax Aci 2007 to the
extent that they arc applied to the organi5ation's charilable objectives. Therefore no liability aris¢s io tayation
in view of the exempiions available to the Trust as a chariry.
PREPAL4TION OF THE ACCOLTrJTS ON A GOING CONCERN BA819
lThe acLx)unts have prepared on agyoing coneern basis. Thc TtUSt¢£s do not tKlieve there i% doubt ovcr thc charitys
thility to continue as agoing concem. 'Ihe charity has made a surplus this ye￿.
BASIC FtNANCIAL INSTRUmE￿[[s
119Si¢ tinancial inslwm¢nts are classified and *ccounted foT, ac¢ord2ngto the subsitrnee of the wntractual sThng¢mcn¢ ls
rInanLidJ ￿¢{8 or financial liabilitics. Fitianciaj instruments arc initially recognised al the dnK>unt re(tivable QF P4)mabk including
any related transaction costs.
LE(iAI. P'ORM
'the Village Housing Churitable Trust is 2n uninc4)rporatcd charity rcgistcrcd M'ilh Ihc ChaTity Lommission in En¥land & Wales
(charity nurnb¢r 2688861. Its tC8lSt¢r¢d addrugs is Locking¢ Esia* Offjce, AFd]ngtO￿ Wantsge. OxfoTdshire, OX12 XPP.

VILLAGE HOUSING CHAIUTABLE TRIJ8T
NOTES TO'IFIE FINANCIAL STATEN4LNTS
Year to 30 Septetnb¢r 2023
2023
2022
2. PROGL4MME RELATED tNVESTMEKfS
Freehold Land & Buildings- at ¢osi
Cost brought forward at l October 2022
4,350.162
4,350.162
ditlOll5 in
3 The Close- fees
4 The Close- fees
29 HiJ¢J Street
600
600
34,287
35,487
Cost Carried forward at 30 Septembei 2023
4,385.649
4,350.162
The Trustee%. having carri¢d out their annual impaimient review, ¢onsid¢r that there ar¢ no impaiTments
in r¥spect uf the above Programm¢ Related Invc5tments.
3. DEB'I'ORS
2023
2022
TTade debtors
PrepaJTnenL%
T¢nants' reni deposits held by 3rd party (sec note 4)
19.191
1.222
25,399
29,543
2,369
26,099
45,812
58.011
4. CREDITORS
2023
2022
Lockinge Trust Ise¢ note 7}
Trade creditors
Accruals
Def¢rred Income
Comm¢rcial Rent Deposits Held
Tenants, rent deposits held by 3rd party {see note 31
Other orcditors
115.634
7.692
3,942
1.543
2,400
98.217
3,770
1007
2,400
26.n4C)
1.000
157.610
1,000
147,427
Tenants. rent deposits are held by Adkin. Chartered Surveyors.
12

VILLAGE HOUSING CHARITABLE TRUST
NO'I'ES TO THE FtNANCIAL S'I'A'fEMf.N'lS
Year 10 30 S¢ptemb¢F 2023
5. BANK LOANS & OVERDRAFT
A bank loan of £404,000 (including £4,000 amgemtnt fee) h&8 replaced th¢ overdraft ￿¢11ity being for the sam¢ security.
Interest is payable at 3.040/D per annum, and the loan is repayable on or b¢fore 10th April 2025. Th¢ lo&n is secured on 1-4
Orllwood Paddock. S¢hool Road. Ardin2ton OX12 8RB.
6 FUNDS
2023
2022
ljnrestrirted Reserves
Brought forwaTd at l October 2022
Changc in year
4,12C).532
121,275
4,r183,922
42,610
Carried foTward at 30 September 2023
4.247,807
4,126532
7. EMPLOYF.ES AND'fRU,STEES
The Trust has no employees and no remuneration 15 poid to the Trustee5 (2022- £Nil}.
Tran
ions with Trustees
Mr. T C Loyd is the lifc tenant of the Lockinge Trust and ès quch had an interest in vaTiOUS purchases of goods
and services, includin¥ management, during the year to a totsl of£276.844 {2022- £291,568) in¢lu5ivc of VAT.
I'he purch&8es were made on a normal trading basis.
No expcns¢s wcre reimbursed io the Tru5te¢s during the year12022 . £Nill.
The amount% owed to Lockinge Tnjst at th¢ year end are a5 Set out in note 4 page 12.
8. TRANSACTIONS WITH AGENTS
Adkin. Chartered Surveyors, provided manag¢me]]t and other professional services amounting (0 £28,8Ql
in the year (2022- £27,521) inclubive of VAT.
9. TRANSACTIONS WITH RF,LAI'ED PARTIES
The Loyd Lindsay Rooms are owned by the County Building5 Proteciion Trnst, of which Mr-r C Loyd is President.
VHCT has held theiY'l"ruste¢ Meetingg at Loyd Lindsay Rooms to the value of £3512022 - £J61}.
Other administration costs are £35 {2022- £1961.
10. I.'INANCIAI, ASSETS AND LIABILITIES
The charity ha$ financial assets and fJnaD¢ial liabilEties of a kind that qualify as basic financial instruments. These
Initiallly Fe¢o￿lSed at transaction value and subsequently measured gt their amort15ed cost.
inan¢iaJ assets
2023
2022
I rade debtors
Tenants, rent deposits held by 3rd party (see note 4}
29,543
26,099
25,399
44.590
55,642
rinancial liabilities
2023
2022
Bank loans & overdydft
Trade Creditors
Other cre(litors {I.ockin¥e TTUSt, Acc]U￿%
ComTt2ercial alld Tenant r¢nt derK)sit}
404,000
7.692
404,000
13.934
147,375
101,617
559,067
519.551
13

vtLLAGE HOUSINCJ CHARITAIILE TRUST
NOI'ES TO THE blNANCIAL STATEN(ENTS
Yegs to 30 September 2023
I I. OBLIGATIONS UNDER OPERATING LEASES
The total of futur¢ minimum lease payment receiwdble by VHCT as a lessor 15 as follows..
2023
2022
Not later than one year
77.467
77,905
77.467
77,905
14