VILLAGE HOUSING
CHARITABLE TRUST
FINANCIAL STATEMENTS FOR
THE YEAR ENDED
30 SEPTEMBER 2024
Charity Registration Number: 268886
LOCKINGE ESTATE OFFICE,
ARDINGTON, WANTAGE, OXFORDSHIRE, OX12 8PP

VILLAGE HOUSING CHARITABLE TRUST
INIIEX
Year ended 30 Septlmbcr 2024
TRUSTEES. REPORT
INDEPENDENT AUDITOR'S REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE S14ELT
10
NOTES TO THE FtNANCIAL S'I'A'I'EMENTS
li

VILLA(yF. HOUSING CHARITABLE TRUST
TRUSTEES, flEPORT
Year ended 30 September 2024
The Trustees submit their report and a¢¢ounts tor the year ended 30 Soptember 2024.
CONSTITUTION
The Trust is constituted by the Trust Deed dated 24 March 1974 following a qettlement by Mr C L Loyd
of certain houses in the vill(￿TeS of Ardinglon and Lockinge on exclusively charitsblc trusts. Additional
properties have been settled by Mr Loyd sin¢¢ 1974.
OBJECTI
The objcLtives of the Trust are to provide housing and associated amenities for persons in necessitous
Circumstanc￿ upon tenns appropriate to their means and for this purpose to construct, improve or manag¢
or faLilitate or encourdge th¢ construction or improvement ot'houses.
STATUS
The T'n]st is a registered charity (Charity Conunission Registration No. 268886).
TRUSTEES
The-l-rustees who servcd 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 APPOtNTMENT OF TRUSTF.ES
lfvThen a need for a new Trustee is identified. the existing Trust¢es will review the eligibility criteria for
Trustees, agrcc what skills, experience and knowledge are needed and agree a pro¢es5 for recruitment.
The Trustees will agree the best method for at￿etIng candidat¢s and interview the candidates cquitably
against the agreed criteria.
The preferred candidate will be identified and invited to join the Trustees, subject to rcferences, fomal
veltingF and approval of the Trustee board. The person nominated for appointment as Trustee will be
required io sign a declaration of his or hcrcligibility to art as a Trustee in a fonn acceptable to the Trustees.
The velliRg will encompass disqualification ¢heeks, conflicts of interests and if appropriate, Disclosure
and Barring Service.
Appropridte infortnation will bc made available to the potcntial Trustees at cither the interview Stage or
the nOm￿natiOn stsge aboui Trustee duties and rcsponsibilities, th¢ Charity including its objectives, its
&¢cDunts. the tnjst decds and the existing Trustees.
A newly appointed TruS￿e will be offered and given appropriatc induction and training.
'I'L4NSACTIONS WI'I"H TRUSTEES
Please see Note 7 lo the accounts for dctails of transactions with the TNstees.
tNVE81'MFNT
The Trustees have power of investment as an absolute beneficia] owmer.
REMUNERA TION
None of the'l ruslees received any remuneration during the year.

VILLAGF, HOUSING CHARI'fABLE'I"RUST
TRUS'I'EES, REPORT (continued)
Year ended 30 Septcmlw 2024
ORGANI
ATION
-I'he Trustees meet periodically in order to discuss the management of the properties and to grant tenancies
to necessilous persons in accordance with the Trust Deed.
The day-to-day management is Carried out by the Managing Agents. Adkin, Chartered Surveyors, at a fee
abreed by th¢ parties.
PRINCIPAL
FFJCE
Lockinge Estate Office
Ardington. Wanta¥¢, Oxon. OX12 8PP
AufJJTORS
Dixon Wilson Audit Servi¢¢s LLP
22 Chancery Lane, l.ondon WC2A I LS
BANKERS
Barclays Bank pl¢
32 Bridge StreeL Banbury, Oxon, OX16 5PN
SOLICITORS
Knights plc
Midland House. Wesi Way, Oxford, OX2 OPH
MANAGINCJ AGE.NTS
Adki￿ Chartered Suryeyors
Orpwood House, Ardington, Wantage OXI 2 8PQ
IJSTEES. RF.SPONS1i311.ITIES
The Trustees are responsible for preparing the Trustees. report and the financial ststemerns in accordan¢e
wilh applicable law and United Kingdom Accouiiting Standards. 'I'he law applicable lo eharities in
England and Wales requires the trustees lo prcpare tinancia] stdfrments for each financial year which givc
& truc and fair vitw of the state of affairs ot'the Charity and of the incoming rcsourccs and application of
rcsources of th¢ charity for thal period. In preparing these financiai statements, the trustees are required
to..
lect suitable acco)unting poli¢ies dnd then apply them consistently.
observe thc methods and principles of the Charities SORP-
make judgements and accounting estimates that dre reasonable and prudenL
stale whether applicable accoun(ing slandards have I￿) followed. subject to any departur¢y disclosed
and explained in the fillancial statements; and
prepare the finanlial statements on ihc going concern basis unless it is inappropriate to pr¢sume that
the charity will continue in business.
The Tru¥ees are responsible for keeping accounting records which disclose with reasonable a¢¢uracy the
financial position of the charity and enable them ro cnsure that the financial stalements comply with the
Cliarities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and th¢ provisions of the trust
deed. They are also responsible for safcguarding the assels of the charity and hence for iaking reasonable
steps for the prev¢ntion and dete¥'tiun of fraud and other irregularities.
EW OF THF. YEAR
During thc year, the following activities in pursuance of its Objectives as set out on Pag¢ 2 were undertaken
by the'lrust..
Maintenance and Re
thc Trustccs continue to maintain thtr portfolio of properties with
particular emphasis being pliccd upon the nceds of the eld¢rly, lesg able tenants and y()ung t￿ople.
This includcs internal dccoratioty gard¢ning <￿iStanCe and other help when required. The Trustees
expended £391,026 (2023 - £176,143) on the m8intenance of the exisiing portfolio of properties.

VII.LAGE I IOUSINCJ LHAIUTABLE'fRUST
TRUS'fEES' tILPORT (continued)
Year ended 30 Septembcr 2024
ro
rovements- the Trustees Continue to carry out improveTnent5 to the housin&F Stock by
upgrading the facilities such as kitchens, bathrooms, heating and other instsllations particularly
whcii a proFtrty falls vaC￿t and is due for refurbishment prior to re-letting. In addIt￿On. facilities
such as showers, stairlifts and hand rdils are provided to assist elderly and Icss able tenants. The
Trustees spent £372,883 (2023 £35,487) on expendilure of a capital improvement nature in the
year, excluding new housing.
New Housin
- During the year. the VHCT purchased 26 High Strcet, Ardington #nd has Ca￿led
out both repaiys and capital work to th¢ property.
Potential D¢velo
ment L
the paddocks, which the Trust owns within the village of East
Ilsley, offcr long temi potential for residential development together with various ¢ommunity
benefits including a site for affordabl¢ rural housing subject to planning consent Iking granted by
the Local Authority concerned. To this end, a Promolion Agreemcnt h&% [￿en enter¢d into with
Manor Oak Homes, tu promote the sitc for dcvelopm¢nt at the Company's risk and progress is
being made towards the point at which a planning application can be submitied with the Parish
Council support.
- the Trustees have Considered the rigks to which the Charity 15 exposed and have concluded
that due to the number of propcrties widiin th¢ portfolio, the ongoing tnaintenance pmgramm
the o¢eupancy rate in rcLent years, the avera¥e number of applicants on the wailing list dnd the
gcographic spread of the dwellingy, the risks of a $￿gnifIcant fall in rental income or a major
increase in the repair liabilities suddenly arising are limited.
Perforniance
The Trustees at th¢ir meetings tEview the perforniancc of the Trust against its Charitable
Objectives, whÉeh are set out on page 2. In particular they consider the oceupancy levcls, the
necessilous circumstances of the tenanls, the age range of the tenants and the maintenance and
d¢velopment of the Trust's propcrties. The perforn)ance statistics showed the following? changes
between 2024 and 2023:
2024
59
2023
58
Total numbcr of residential properties
Propertics vaLanl and being refurbished/re-let
Tijtsl iiuJI)b¥I vfi¥ii£Ui
Age ran¥e of tenants
85
18-45
46-59
60+
Nurn￿r of children of tenants
33%
41%
14
18
There is further inforniation in the Publi¢ Bcnefit section klow as to how the objeetives are met
and the atxjve statistics are referred to at the end of that section.
PUBLIC B
FIT
The Trnstees continue to carry out the Charity's aims lor the public benefit.
Thc Trustees, hdving regard to the Public Bencfit guidan¢¢ published by the Charity Commission in
accordance with section 17 of the Charitle5 Act 2011, ronsider thai the purpose the activities of the
Charily satisfy the requirements of tiic Public Benefit test Set out in s¢¢lion 4 of the sume Act.
The aims are intended to benefit those members of the publi¢ who need to live in the vill<lLFes of Ardington
aiid Locking¢ tur the purposes of employmvnt, retirement or in order to make a contribution to the work
of the lo¢al community, through providing them with affordable twal housing at lesq than the open market
rental valuc for similar properties in the locality.

VILLAGE FIOUSING CHARITABLE TRUST
'I'RUSTEES' REPORT (continued)
Year ended 30 Scptember 2024
The property Portfolio includes bungalows and ¢ottages which have been adapted to include stairlifis, wet
rooms and other fa¢ilities. and which the￿rore are p(lrticularly suitable for access and occupation by the
¢ld¢rly and by persons with adisability. As shown in the above Perforn)ancc R¢view statislics, the Truste¢s
also seek to maintain a variablc mix in the ag¢ range of tcnaThiS in order to preserve th¢ balan¢¢ of life in
the local community-
FINAN
IAL POSITION
Diiring thc year: the Tntst receivcd income of £418,794 (2023 £415,355) including interest, of whi¢h
£522,370 {2023 - £294,080) was spent on maint¢nan¢e, repairs, managcmLnty professional fees, insurance
and other overheads as set out in th¢ Statetnent of Financial Activities (page 8). Capital expenditure
amollnt¢d to £372,883 (2023 - £35,487).
RESERVES POLICY
Any surplus income is retained by the Trust in order to build up reserves for the purchase of additional
prO￿rtieS or land on which n¢w dwellings can be constructed to further th¢ ov¢rall objectives.
At 30th September 2024 the net current assct ￿sItion showed a deficit of £210,301 (2023
£266.158).
surplus
The ongoing policy of the Trustees is to retain surplus income for the impri)vement of ihe existing housing
stock as required and in the mediuTn temi to build up reserves for the construction of new prop¢rties which
may require land to bc purchased in the first instance.
GOIN(i CONCERN POLICY
The 'l-rustees have continued lo adopt the going concern basis for these financial statements, as there are
no maierial unLertainties identified thut may cast doubt about the Trnsi's ability to continue as a goiiig
concern for the foresecable future. A new batth loan is being negotiated in July 2025 dnd is expe¢led io
provide the Trust with sufficient working capital for planned operations for at least 12 months following
the approval of these accounts.
ACCOUNTS
Tliese acLuunis I￿ve been drawn up in accordance with the relevant provisions of th¢ Charities Act 2011,
the FRSI 02 Statement of Recommended Practice: Accounting and Reporting for Charities (SORP 2019)
and the Trust Deed.
STATEMF.NT AS TO DISCLOSURE TO OUK AIJDITOIIS
In so far as the'l ruste¢s ar¢ aware at the lim¢ of approving our Tnjstees, repcJrt-
there is no relevant infom)ation, being infomiation needed by thc auditor in conn¢ction with prepatring
their rcp(Jrt, of which the Charity's auditor is unaware. and
¢d¢h TTr￿tee has taken all thc steps that he/she ought to have taken as a Trusiee in order to make
themselves aware of any relcvant audit infom]ation and io establish that the charity's auditors are
aware of that inforniation.
For E4nd on behalf of the Truste
T.C LOYD
Tnulee
Date:

VILLA(iE HOUSING CHARITABLE TRUST
TNDEPENDENT AUDJTOR'S REPORT
Year ended 30 September 2Q24
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE VILLACIE HOUSTNG
CI.IARITABLE TRUST
opin￿ll
We have audited the financial statements of Village Hoysing cP￿table TTUSt (the 'charity') for ihe year ended
3(yh September 2024 which comprise the slatement of fll)ancial activities, balance ghee( and notes to the financial
statementg.. inLluding a summ9ry of significant accounting policies. The financial reporting framework that h&%
been applied in theirpreparation is applicable lawand United Kingdom Accounting Standards, including F'inancial
Reporting stAnd￿d 102 The F'inancia] Reporting Stsndard applieable Èn the UK and Republic of Ireland (United
Kingdom Gen¢rnlly Accepted Accounting Practice).
In our opinion, the financial statements..
"give atru¢and fairview of the stateofthecharity's affai￿05 at30tb September2024 and of its incomin¥ rewur¢e$
and opplication of resources, including its income and expenditure, foi the year then Ended;
.have been properly pr¢pared in accorddnLe with Unil¢d Kingdom Generdlly Accepted Accounting Prd£ti¢e;
•have been prepared in aLGordance with the requirements of the Ch￿1t]eS Act 2011.
Basis for opinion
We conducted ouraudst in a¢cordan¢e with Iniemalional Standards on AE￿iting OJK) (TSAS UJK)) and applic2ble
law. Our responsibiliti¢s under those standgtrds are further dcscribcd in thc Auditor's rcsponsibilitieg for the audit
of the finaneial stAt¢mcnts section ofour rewkrt. We are independenl of the charity in attordancc wth the ethical
requircmcnts that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
St4ndrf and we have fulfilled our other ethical responsibilities in aecordanee with these reqU1￿Ments. We
belieye that the &udit ¢vid¢nce we have obtained is suffi¢i¢nt and 8ppropriate Éo provide a basis for our opinion.
Conelusions relating to going concern
In auditln8 the finan¢ial statemenw we have ¢orAcluded that the direciorfs use of the going Concem basis of
accounting in th¢ prepardtion of the financial staiements is appropriate.
Based on the work we have perfomjed, we have not identified any m2teriAI uneertainties relating to events or
conditic)n.% thal. iTrdividiJ2lly nr t.(Jlleclively, niiiy L%lSt siLJnifieant dnuht the eh*rity'k #T)ility to oonfiniie gs A
going conccrn fora ￿riod of at l¢ast twelve months from when the original fjnan¢ia] stalefflents were authorised
for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in th¢
relevant seclioRs of this report.
Other Information
1.he other infom)ation comprises the infomiation included in the trustees, annual repo¢ other than the financial
statements our auditor's report thereon. The trustecs are reS￿nsIble forthc other infomiation. Our opinion on
the financial statements do¢$ not ¢over the other intomiation and, ¢x¢ept to the extent otherwisc explicitly ststed
in our reporL we do not exprcss any fomi of &ssuran¢¢ conclusion thereon.
In connection with out audit of the financiaI Slate￿ents, our responsibility is to read the other information and, in
doing so, consider whether Ihc oth¢r inforniation is materially inconsist¢nt with the rIn￿Lia[ stat¢m¢nts or our

VILLAGL HOUSING CHARITABLE"fRUST
INDEPENDENT AUDITOR'S REPORT (continued)
Year ended 30 September 2024
knowledge obtained in the audit or othenvis¢ appears to be materially MISSt￿¢d. If we identify such material
inconsistenLies or appa￿nt material misgtatements. we are required to detemiine whether there is a materi
misstatement in the financial statements or a matcrial misststement ofthe other information. Ir. based on the ivork
we have perfomJe(L we conclude that th¢r¢ is a materia] misstatement of this othcr infonnation. we aTe requir¢d
to report that fact.
We have nothing to re￿rt in this regard.
Matters OD which we aT¢ required to report by exception
We have nothing io JYFK)rt in reSp￿t of the following maErets in r¢lation to which the Charities Act 2011 requires
us to report to you if. in our opinion..
•the inf0m￿tion given in the tNstees' annual report ]% inconsistent in any material resp¢¢t with the financial
siatements. or
•th¢ charity has not kepl udequate accounting record%; or
.the financia] 8tat¢ments are not in agreement with the accounting records and return5; or
we have not received all the infom]￿10￿ and explanations we require for our a￿lIL
R￿ponsIbIlitieS of tn15tees
As explained morc fully in the trustees, responsibilities statement se( out on page 3, the trustees are responsible
for the preparation of the financial stxtements and for beingF satisfied that they gFive a tjue and lair view, and for
such internal control as th¢ try￿teeS delemine is necessary to enable the preparntion of fllwicial statements that
e Iree from material misstatement, whether due to fraud or error.
In preparing the financial st2tement& the trustees ar¢ responsible for assessing the cFwity's ability to continue as
a going concem. diseltsging, as applicable, Matte￿ related to going concern and using the goinK concern basi5 of
accounting unle55 the trustees ¢ith¢r intend to liquidate the charity or to Crase operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial ststements
We have been appointed &$ auditor under section 144 of the Charities Act 2011 and r¢port in accordance with
regulations made under section 154 of that Act.
Our objectives ￿ to obtain reasonable axsuranco about whether the fillancial statements as a whole are ftte fro
maieria] misstatemenL whether duc to fraud or em)r, and to issu¢ an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit ¢onduLtd in aCL(Irdance
with 18As (UK) will always detect a material mlsstatement when it exists. Misstatements. arise from fra￿1 or
error and are considered material if, individually or in the aggregatc, they could reasonably be expected to
int]uen¢¢ ihe economic decisions of users taken on th¢ basis of these rtnanLia] statemenls.
Irregularities, including frau¢ are instances of non-compliance with laws and r¢gulations. We design prcKYdures
in line with our rcsponsibilitie5, oudin¢d above, to detect mat¢rial misstatements in respect of irregularities,
including fraud. 'fh¢ exQnt to which our procedu￿ ¢apable of detecting iTregularitiw including fraud is
detailed below..
We gdined an und¢rsianding of the lega] and regul&ory framework applicable to the Charity by eonsideTin8,
amongst other things, the jurisdi¢tions in which il OperdtC￿, and ¢onsidcred the rigk of acts by the ctwity that were
unlrary to applicable laws and r¢gUI￿lOnS, including fraud. We designed audit procedu￿$ Its respond to the
assessed level of risk, bui reeo&Fnised that the risk of not d¢te¢ting a material Tnisstatement due to fraud is htgher
thdll the risk of not d¢t¢¢'ting one resulting from error, as fraud may involve deliberate concealment by> for
example, for8ery or ittic'ntional EniSTepresentations, or through collusion.

VILLAGF HOUStNG CIIARI'IABLE TRUST
INDEPENDEN'f AUDITOR'S REPORT (continucd)
Year cndcd 30 September 2024
We focused on laws and regulations which could give rise to a material misststement in the financial staternents,
includin& but not limitsd tt>, Clwities Act 2011, the Landlord and Tenartl Act 1985 and the r.qua]ty Act 2010.
Our tesL8 included enquiri¢s with management and ¢nquiries of third parties, Éncluding properly agents, ba[￿er$
and solicitot3.
As in all our audits, we a]so addressed th¢ risk of rnamgement override of intemal control¥ in¢luding testing
journals and evaluating whether there w&s evidence of bi&9 by manag¢m¢nt that represented a risk of material
misstatemcnt due to fraud.
Therc are inherent limitstiot]s in the audit procedures d¢scrib¢d above and, the further rcmoved non-complianee
with law5 and regulations is frc>m th¢ ¢v¢nts and transactions reflcctcd in the financia] statements, thc less likely
we would become aware of it. We did nol identify any key audit Fnatters relating io irregularitie5, including fraud.
A further description of our responsibilities for the audit of the financial ￿ateMentS is locakd on the financial
Reporting Council's websilc at." www.frc.org.uk/auditorsresponsibilities. "Iljis description forn￿ part of our
auditor's report.
Dixon Wilson Audit Services LLP, Ststutory Auditor
22 Chancery Lane
London
WL2A ILS
10 July 2025
D£tte:................................
Dixon Wilson Audit Services LLP is eligible to act as an auditor in ternis of section 1212 of the CompÉ￿leS A¢t
2006.

VILLAGL HOUSING CHARITABLE'FRUST
STATEMEprr OF FINANCIAL ACTIVITIES
Year to 30 Se
tcmber 2024
2024
2023
Notes
INCOME
Income from Ch
Rents receivable
e actiwtiC5
406,879
405.310
IntoFne from Inves
Int¢rest
2,915
2.345
Other Income
Othcr Income
9,000
418.794
7.700
415,355
TOTAL tNCOME AND ENDOWMENTS
EXPENDITURE
tur¢ on Charitsbl¢ attiviiies
PToperty mainlenance and repair5
Rent payable
Electricity and gas
Rates and water charges
Insurance
Property managem¢nt
Professional legyal fees
Battk chaTges 8nd int¢ttst
Bad debt provision
Sundry adtllÉlliStration costs
Sundry dtre¢t fjhaTitable expenditure
Administration fees
Audit fees
Accountanry fees
391,026
275
2,852
10,354
9,702
30.084
3.001
13,719
176,143
275
2,815
5,293
7,532
28,801
13.702
104
1,858
55,087
2,154
2,154
70
1,615
52,721
2,041
2,041
TOTAL EXPENDII"URE
522,370
294,080
NET MOVEMLNT IN FUNDS
1103.576)
121,275
TOTAL FUNDS brought foTWATd
4.247.807
4,126.532
TOTAL FUNDS CWTied fotward
4.144,231
4.247,807
All amollnts are in respect of continuing activities and all funds are unrestrict¢d in their application.

VILLAGE HOUStNG CHARITABLE TRUS'r
BALANCE SHb.ET
Year to 30 September 2024
'Ole
2024
2023
PROGRAMME Rf.LATED INVESTMENTS
rreehold land & buildsngs
4,758,532
4,385,649
cuRRE￿r ASSETS
Debtors
39.352
45,812
377.956
Cash at bank
10.458
49,810
423.768
CREDITORS Dub WITIIIN ONE YEAR
Creditors and accruals
260.111
157,610
157,610
260.111
NET CURRENT LIABILITtES
)10.3011
266.158
CREDITOR8 DUF. AFTF.R ONE YBAR
Bank Loan
{404.000)
{404,0001
NET ASSETS
4,144,231
4,247,807
REPRESENTED B Y..
TOTAL UNRES"r￿cTED FUNDS
4,144,231
4,247,807
The financial stat¢ments on pages 9 to 14 wcre approved by the Trustces on
and were signed on thcir behalf by..
9 July 2025
DR.
(Tru
BOON
TCLOYD
ITru5teel
io

VELLAGE HOUSING CHARtTABLE TRUST
NOIES TO TFII.. FINANCIAL S'IATE,ML,NTS
ye￿ to JO S¢ptember 2024
I. ACCOUNTING POIJC'.11-. '
Th¢ flnancial sia*ments have tEen pre￿￿ed in acr4)rdance with the Finthciaj Reporting St2ndards wlic&blc in th¢
UK Kepublic ot"Ircland11.'R8102}, th¢ Stat¢m¢ni of Rew]bmBndd Pra￿lc¢.. Accouoiing artd R¢wrting for
Charilies ISORP 20151 ihc Chariti￿ Act 2011.
Village IlousittB Ch￿l￿bI¢.[.TUsl m¢ets' the definition ora public entity undcr TrRSIO2.
These finoncial 8tat¢ment$ h8ve iKen prepared underthe historical cosl ix)nverttion.
FUND ALLI)UN'IING
Unrcsiriiied Funds available for use dtth¢ discreliort vf th¢ TTusk¢5 in fvrthcrdncc of the EeneTal chfiritabl6
objectives.
DeSI￿ated furtd& of which the￿ 8re tUr￿ntlY non4 arc unrestrict¢d fvnds which would be traA%rC￿¢d fron) the
fimd for particu]ar PUTtx)ses or PTojects at Ihe disctttion ofthc Trustecs.
RCsth¢t￿ Funds, of wthich thcre 8rc nonc currenlly, Nvould k funds (k>nated either for a particular purrH)se
or dre4 ihe of which ￿￿Uld ￿ I¢stri¢*d to thèi pwise OT aT¢&
FNCOMFNG RESOURCES
All incornc. including rent and int¢re8l is Te£ognisLd and accounled foT wkn the Charity has ¢rttitlement
to the fund& the amount caft be quantified and thew is ¢ertainty of receipt.
RESOURCES EXPENDED
All expenditurc is recognis¢d when ihere is a le8a] or wnstrucuve obligation to FNIY. Where co￿5 csmot be diT¢CtIy
ttributed to an expenditu￿ headin& they will be allo¢at¢d to a¢tLVitie5 on a basis consistent with the use of resources.
PIIO(iK4MMF. RELA'fED INVFSTMENTS
Programine rc'ldl¥d inveslmenis r¢present Tesid¢nÉial propcrtics hL'ld by the charity and which 8TC Ict Irlow markci rcnl
in order to Provide affordable housing to the lo￿] community. The investments are held at cost wilh an annual
impairment ievicw carried out by the trustees.
IAXATION
Ih¢ activiti¢s of Ihc Charity are ¢xempi from corp)rwion t&K under p2rt 10 of the Income Tax Aci 2007 to the
eKtent that they are applied to the organisation's charitable objectives. Therefore no liability aris&s to t&%atioll
in view of the exempiion$ available tt> thc Trust as a ¢haTity.
p]tFPARAT5nN OF ACCOUNI'S ()N A COINC CONClliN ]JASIS
The acLuunts have ptetwrtd OD agoinge4)nctm basis. 'lTheTrustecs do not IKli¢v¢ therc is any doul* ovtt the ch2r2tys
dbility to continuc agoin¥ concern.
8IL FtNANCtAL IN%TkUMEN15
B£¥iC ￿n￿l¢la1 instnllnent% cl&s%iti¢d and acLounted for. Qccording lo the %ubstaDC¢ ofthe contraciual 4]Tangemeni.
fin￿1￿1 assets or fJnan¢ia] liabilili¢s. Firtfjnci￿ instrumcnis arc initially r¢cogniscd at the amount ￿Ctiv￿ble or PdJ]nable in¢luding
any r¢laied transaction costs.
LEGAL F'ORM
'Ihe Village Htrusing Charitsb]e Tru￿ i% An unincorFrf)rated charity registCTcd with thc ChaTity Commission in England & Wal
(charity nutnbcr 2688861. Its rcBistered addT¢SS is knK'kinge EsLtte OffJc¢, Ardingi0￿ Oxfordshire, OX12 8PP.

VILLAGE HOUSING CHARITABLE TRIJST
NOIES TU THF. FINANCIAL STATEMENTS
Year to 30 September 2024
?024
2023
2. PROGRAMME RELATED tNVES1Th1ENTS
Fteehold Land & Buildings- at ￿$t
Cost brought fonvard at l October 2023
4,385.649
4.350,162
AddttEons in
3 Th¢ Close- fees
4 T'he Clos¢- fees
26 High Streei
29 High Sire¢1
600
600
344,353
28,530
i72.883
35,487
Cost catried forwaTd at 30 September 2024
4.758.532
4.385,649
The Trustees, having carti¢d out their ant]ua] impairment ¥evi¢w, considcr that there are no impairments
in rcspeet of the above Progratnme Related Investments.
3. DI-.BTORS
2024
2023
Trade d¢btots
Prepayrnents
Tenanis, rent deposits held by 3rd party (see note 4)
12,967
423
25,962
19.191
1.222
25.399
39,352
45,812
4. CREDITORS
2024
2023
Lockinge Tru%t (see note 7)
Trade creditors
Accruals
Deferred Income
Cvmm¢rriaJ Kcni DcpnsiTS iI¢ld
'I'enants' reni deposits held by 3rd paty (see note 3)
Other ¢reditors
223,912
2,791
4.138
1.546
2.400
25,324
115.634
7,692
3,942
,543
2,400
25.399
260,111
157,610
Tenallts, rent deposiL% are held by Adkin, Chartercd Surveyors.
12

VILLAGE. HOUSING CHARITABI.F."fRU8T
NOTES 'I'()"I'HF. FINANCIAL STATEMF.NTS
Year to 30 Se
tember 2024
5. BANK LOANS & OVERDRAFr
A bank loan of £404,000 {including £4,000 aTrangement fee) h&% replaced the overdraft facility being for the same security.
Interest is payable at 3.040/0 per annum, and the loan is r¢payabl¢ on or before 10th April 2025. The loan is secured on 1-4
On)wood Paddock. School Road. Ardinaton OX12 8RB.
In July 2025, a new bank loan of £403,200 {including £4200 a2r8ngeTnent fee) was being negotiated. The draft agree]nent
states that interest will be charged ai the Bank Rat¢ plus 2.30/0 per annum, Mryth a loan terni of five years. The loan is
intended to be secured on 14 Otywood PaddocK School Road, Ardington OX12 8RB.
6. FUNDS
2024
Cted Reserves
Brought forward at l Othbcr2023
Change in year
Carried forward at 30 September 2024
4,247.807
I l OJ.570
4,126,532
121275
4,144.231
4,247,807
7. EMPLOYEES AND'fRUSTEES
'rhe Trust has no e]nployees HT￿ no remun¢￿tion is paid to thc Trustee5 {2023- £Nill.
.1 ransactions w(Ih Trustees
tr. T C I.oyd is the life tcnapt of the 14ockinge Trust and as such had an interest in varÉous purchases of goods
and seJvi¢es, including monagemeni, during the year to a total of £174.669 {2023 - £276.844) inclusive of VAT.
The purchases were made ot) a nornial trading basis.
No expenses were re￿MIX￿$cd to the Trustees during the year (2023 - £Nill.
The amounts owed to Lockinge Trust at the year end are as set out in not¢ 4 on page 12.
8. TRANSACTIONS WITH AGENTS
Adkin, Chartered SurveyoJ5, PTovided management and other professional s¢Trice5 amounting to £30.153
in the year (2023 - £28,801 l inclusjve of VAT.
9. TRANSACTtONS WITH RELATED PARTIES
The Loyd Lindsay Rooms are owned by the c.ounty Buildings Protrction TrnsL of which Mr T C Loyd is Presid¢nt.
VHC.T has held their'l-rustee Me¢iing)s at Loyd Lindsay Rooms to the value of£nil12023 - £351.
Other adminEstralion costs art £10412023 £351.
10. FINANCIAL ASSE'I-S ANJ) LIAIIILI-fIES
The charity has financial &8sels and financial liabilitle5 of a kind that qualify as basic fjnancial instruments. These are
initiallly rew￿lSed a¢ transaction valuc and subsequently MeaSL￿ al thetr amortised cost.
Finan¢1￿ assets
2024
2023
'I'rade debtors
Tenonts, wnt dcposits held by 3rd party (see note 4)
12,967
25,962
19.191
25,399
13

VILLAGE HOUSIN(i CHARITABLE TRUST
NOTES TO THE F'INANCIAL s'fA TLMEN'I'S
Year to 30 Se
tember 2024
Financial Itabilities
2024
2023
Bank loans & overdraft
Ttzde credilors
Other creditors ILo¢kinge Irust, Accruals,
Commercial and Tenant rent deposiLI
404,000
2,791
404,1>00
7.692
255,774
147,375
662,565
559,067
I I. OBLIGATIONS UNDER OPE.RATING LEASES
The totsl of future minimutn leas¢ payment rcceivable by VHCT as a lessor is as folloms..
2024
2Q23
Not lat¢rthan one year
64,422
77.467
77,467
14