**REGISTERED CHARITY NUMBER: 296226** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2024** **for** **Link House Trust** George Hay Partnership LLP Chartered Accountants St George's House George Street Huntingdon Cambridgeshire PE29 3GH **Link House Trust** ## **Contents of the Financial Statements for the Year Ended 31 December 2024** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|13| |**Detailed Statement of Financial Activities**|14|to|15| ## **Link House Trust** ## **Report of the Trustees for the Year Ended 31 December 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Background and Activities** International post-graduate students arriving in the UK for the first time often experience problems adjusting to an unfamiliar environment and culture without the physical presence of family and friends to support them. Established in December 1986 by a Trust Deed declaration, Link House is a local Christian response to the needs of overseas students of any faith or none. We provide affordable furnished accommodation in a caring Christian environment with a friendly and supportive family atmosphere. Two guest rooms are also available at a nominal fee so that residents can host visiting family or friends. In doing this, Link House aims to help build bridges of understanding between people of different faiths and cultures (including many from developing countries) who will be returning home in due course to take up positions of influence in their governments, in universities and professions as well as in industry and commerce. A friendly and warm welcome to the UK promotes the global reputation of the UK as a nondiscriminatory and welcoming society founded on Christian values. Societal benefits are also derived from our work whilst they are here, given that positive home environments have a positive effect on the wider community. Link House owns three properties, 17-19 Chesterton Road, The Lodge on Hertford Street and a property on East Hertford Street. The accommodation comprises 31 rooms for residents, 2 rooms for guests, 2 rooms for sub-wardens and accommodation for the wardens. ## **OBJECTIVES AND ACTIVITIES Objectives and aims** The primary Objectives of Link House Trust are as follows: a) To provide accommodation within a caring Christian environment for post-graduate students, in particular students from overseas, who are following an approved course of study in Cambridge. b) The relief of need, hardship and distress amongst such students. c) The advancement of the Christian Faith. ## **ACHIEVEMENTS AND PERFORMANCE** ## **The Residents and Activities** Social events for residents included a craft workshop in January, a Pancake Day party in February, as well as regular parties to celebrate residents' birthdays and to wish them farewell as they leave Link House. The wardens have as usual hosted particular events for residents remaining in Cambridge at both Easter and Christmas times. Over the course of 2024 there were 58 residents from 29 different countries, from a wide variety of regions around the world, as shown in the pie chart below. The ratio of "arts" to "science" students at Link House was 1:5 in 2024. **----- Start of picture text -----**
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## **Link House Trust** ## **Report of the Trustees for the Year Ended 31 December 2024** ## **FINANCIAL REVIEW** ## **Financial position** The 2024 Accounts report a total income of £206,888, of which £185,050 was rental income and the remainder was from Donations and Legacies (£19,040) and Investment Income (£2,798). The total resources expended of £149,724 was lower than income for 2024 by £57,164. The expenditure included wages, administration, property maintenance and improvements, insurance and bank charges. ## **Restricted funds** The charity holds £12,405 of restricted funds. This Bursary Fund is for the following purpose, as defined by the donor of these funds: "To be used at the discretion of a majority of the Link House Trustees for potential hardship situations for international residents when unable to pay for their Link House accommodation, tuition fees, flights or general living expenses and who may require limited assistance." ## **Unrestricted funds** The charity held a total of £329,360 at the end of 2024 in our bank accounts allowing for debtors and creditors. The Trust also holds investments of £101,368. The Trust has no loans or overdrafts. ## **Reserves policy** The Trust holds reserves sufficient to cover more than 6 months' running expenses should unforeseen events occur. Reserve Funds are released by majority vote of the Trustees. ## **USE OF FUNDS** Funds are employed for routine maintenance and upgrading of the properties. Reserve funds are also held to cover future expenditure that is expected to be needed for upgrading the properties. During the year, £30,617 was spent on carrying out work to replace part of the roof of 17-19 Chesterton Road. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Link House Trust was established by Trust Deed on 29th December 1986, supplemented by a Deed of Variation on 20 January 2006 which increased the maximum number of Trustees from 6 to 8 and details the procedure to be followed should the Trustees resolve to dissolve the Trust. ## **Charity constitution** The Trustees have taken advice and have decided to change the status of Link House from an Unincorporated Charity to a Charitable Incorporated Organisation (CIO). The Charity Commission approved this change in October 2023. CIO status is recommended for Charities and it should help us to manage our bank accounts more effectively and resolve liability issues. The Trustees appointed Anthony Collins (Solicitors) to manage this process. A new constitution has been prepared and approved for the new CIO Charity which will take effect from 1[st] January 2025. ## **Trustees and Patrons** The Chair of trustees is Andrew Keiller. The Trust is seeking to appoint a Treasurer and Andrew Keiller is currently Acting Treasurer. Page 2 ## **Link House Trust** ## **Report of the Trustees for the Year Ended 31 December 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Meetings and Management** Link House Trust is 'a home from home for international graduate students'. Gary and Anne Boswell completed their 7th full year as Link House Wardens in January 2024. Jack Harding is the volunteer assistant warden in The Lodge and Sam Gabra is the volunteer assistant warden in East Hertford Street House. Quarterly Trustee management meetings took place in February, June, September and December. Regular reports have been prepared by the wardens for each meeting. Over this past year, room renovations and deep cleaning have taken place as and when residents have vacated rooms, otherwise, room occupancy levels have continued to remain high, at an average of 89% during the year. Other improvements this year have included repair and renovation of the flat roof above the main entrance of Chesterton Road house to prevent further leaks from rainwater. The 5-yearly inspection and testing of the electrical installations of all 3 houses was undertaken and all remedial work completed in order to receive the needed certification for the next 5 years. The renewal of the HMO licence for East Hertford Street house was successfully completed in November. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 296226 ## **Principal address** 17-19 Chesterton Road Cambridge CB4 3AL ## **Trustees** The name of the charity, its charity registration number and the address of the registered office of the charity are shown in the header of this report. During 2024 the Trustees were as follows: Andrew Keiller (Chair) (Treasurer) Stuart Anderson Angela Palmer Dr Paul Anderson Anne Jarvis Rev Dr Jonathan Holmes Patricia Johnston Rev Canon Dr Ian Silk Ben Khan (appointed in September 2024) New Trustees are volunteers who are appointed by unanimous agreement of the existing Trustees. All Trustees have signed a declaration confirming their agreement with the doctrinal basis of the Trust (Christian Faith). Page 3 Llnk Hou•• Trust forth• YMI End¢d 31 Decefflber 2024 PEFERENCE ANO AD*ttNISTRATr4E DETAILS Independent EMmiTrer Sarrantha Gieen A George Hay Pannershp LLP Charttrrec Accountants Sl Georges Tr*￿$0 Huntingaon GamtXKlgc¥hlrv PE29 3GH PROPERTY OWNEO BY THE CHARrrY The chaity IKWI. Thmo ¥•: CTh•glertJn Roal House. 17.19 Chestwlon Road. car￿￿￿. CB4 3 AL The Lodge. Hertford Street, C*rt1r￿e. CB4 3AG 7 East Hertftyd st￿*. CBfflbriJge. C84 3LI .. I￿1 s*Jned on Its bfjhjll by." P•J• 4 ## **Independent Examiner's Report to the Trustees of Link House Trust** ## **Independent examiner's report to the trustees of Link House Trust** I report to the charity trustees on my examination of the accounts of Link House Trust (the Trust) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Samantha Green ACA George Hay Partnership LLP Chartered Accountants St George's House George Street Huntingdon Cambridgeshire PE29 3GH Date: ............................................. Page 5 ## **Link House Trust** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Provision of Student Accommodation
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Provision of Student Accommodation
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
19,040
185,050
2,497
206,587
149,724
5,246
62,109
4,019,458
4,081,567|Restricted
fund
£
-
-
301
301
-
-
301
12,104
12,405|2024
Total
funds
£
19,040
185,050
2,798
206,888
149,724
5,246
62,410
4,031,562
4,093,972|2023
Total
funds
£
6,538
170,546
2,251| |---|---|---|---|---| |||||179,335| |||||145,144| |||||7,804| |||||41,995
3,989,567| |||||4,031,562| The notes form part of these financial statements Page 6 Unk Houu Trwt B•l•nc• 51wel 31 D￿￿nb￿r 2024 UnRstno1ed Restr fvnd fvnd Tot Js Tolgl FIXED A88ET8 Ta[VJJb￿ assets In¥oslnw16 j.e￿.839 3.650.839 3,624.SS1 3,752207 3,752.207 3.720.672 CURREKf AssErs Debio Cash ai bank and in harKI 1.318 363.3￿ 329.609 380 945 12 405 351.381 12.405 3.786 230.￿47 CREDITOR3 Amounts fallw due OllÈ >tar (22,021) (20.03n NEf c(NIRENT A3sErs 12 40S 1.7es 310,8 TOTAL ASSETS LESS CURRENT LIABILITIES 4.IA1,567 12.4Lk5 4.093.972 4.031.582 NET AsseTS 4.1x1,￿7 12.41 4.OY3,Y72 4.031.￿2 FUNDS 10 Uiirebliicied fttnds Rgstrided lund8 4.081.567 4.019.458 12.104 TOTAL FU140S 4 093 972 Tr* no*s fc¥m part ofthese ￿ar￿1 ¥t•twTrnts P•g• 7 **Link House Trust** ## **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings - 20% Straight line Properties - Revalued professionally each 5 years ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 8 continued... ## **Link House Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **2. INVESTMENT INCOME** |Deposit account interest|2024
£
2,798|2023
£
2,251| |---|---|---| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: |Wardens
No employees received emoluments in excess of £60,000.
**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
6,538
**Charitable activities**
Provision of Student Accommodation
170,546
Investment income
2,028
**Total**
179,112
**EXPENDITURE ON**
**Charitable activities**
Provision of Student Accommodation
145,144
Net gains on investments
7,804
**NET INCOME**
41,772
**RECONCILIATION OF FUNDS**
Total funds brought forward
3,977,686
**TOTAL FUNDS CARRIED FORWARD**
4,019,458||2024
2
Restricted
fund
£
-
-
223
223
-
-
223
11,881
12,104||2023
2
Total
funds
£
6,538
170,546
2,251| |---|---|---|---|---| |||||179,335| |||||145,144| |||||7,804| ||||41,995
3,989,567|| ||||4,031,562|| Page 9 continued... ## **Link House Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **6. TANGIBLE FIXED ASSETS** |**COST**
At 1 January 2024
Additions
At 31 December 2024
**DEPRECIATION**
At 1 January 2024
Charge for year
At 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|Freehold
property
£
3,602,500
-
3,602,500
-
-
-
3,602,500
3,602,500|Fixtures
and
fittings
£
147,754
30,617
178,371
125,703
4,329
130,032
48,339
22,051|Totals
£
3,750,254
30,617| |---|---|---|---| ||||3,780,871| ||||125,703
4,329| ||||130,032| ||||3,650,839| ||||3,624,551| The properties held, were re-valued as at 31 December 2020 by Eddisons, RICS registered valuers on the basis of open market value for current use. The trustees are not aware of any significant changes since the valuation. The properties are not held purely for investment and there is no intention for them to be disposed of in the foreseeable future therefore, when considering economic benefit, a policy of 5-year valuations is considered to be appropriate. ## **7. FIXED ASSET INVESTMENTS** |**FIXED ASSET INVESTMENTS**|| |---|---| ||Unlisted| ||investments| ||£| |**MARKET VALUE**|| |At 1 January 2024|96,121| |Revaluations|5,247| |At 31 December 2024|101,368| |**NET BOOK VALUE**|| |At 31 December 2024|101,368| |At 31 December 2023|96,121| There were no investment assets outside the UK. Page 10 continued... ## **Link House Trust** ## **Notes to the Financial Statements - continued** **for the Year Ended 31 December 2024** ## **7. FIXED ASSET INVESTMENTS - continued** Cost or valuation at 31 December 2024 is represented by: |Valuation in 2021
Valuation in 2022
Valuation in 2023
Valuation in 2024
Cost
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
**10.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
4,019,458
**Restricted funds**
Bursary Account
12,104
**TOTAL FUNDS**
4,031,562|2024
£
-
436
436
2024
£
2,465
(2,059)
21,615
22,021
Net
movement
in funds
£
62,109
301
62,410|Unlisted
investments
£
8,475
(20,157)
7,803
5,247
100,000
101,368
2023
£
912
406
1,318
2023
£
2,465
795
16,777
20,037

At

31.12.24
£
4,081,567
12,405
4,093,972| |---|---|---| Page 11 continued... **Link House Trust** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 December 2024** ## **10. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Bursary Account
**TOTAL FUNDS**|Incoming
resources
£
206,587
301
206,888|Resources
expended
£
(149,724)
-
(149,724)|Gains and
Movement
losses
in funds
£
£
5,246
62,109
-
301
5,246
62,410| |---|---|---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Bursary Account
**TOTAL FUNDS**|At 1.1.23
£
3,977,686
11,881
3,989,567|Net
movement
in funds
£
41,772
223
41,995|
At

31.12.23
£
4,019,458
12,104| |---|---|---|---| ||||4,031,562| Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Bursary Account
**TOTAL FUNDS**|Incoming
resources
£
179,112
223
179,335|Resources
expended
£
(145,144)
-
(145,144)|Gains and
Movement
losses
in funds
£
£
7,804
41,772
-
223
7,804
41,995| |---|---|---|---| Page 12 continued... ## **Link House Trust** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 December 2024** ## **10. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Bursary Account
**TOTAL FUNDS**|At 1.1.23
£
3,977,686
11,881
3,989,567|Net
movement
in funds
£
103,881
524
104,405|
At

31.12.24
£
4,081,567
12,405
4,093,972| |---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Bursary Account
**TOTAL FUNDS**|Incoming
resources
£
385,699
524
386,223|Resources
expended
£
(294,868)
-
(294,868)|Gains and
Movement
losses
in funds
£
£
13,050
103,881
-
524
13,050
104,405| |---|---|---|---| ## **11. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 December 2024. Page 13 **Link House Trust** ## **Detailed Statement of Financial Activities** ## **for the Year Ended 31 December 2024** |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations Received
Gift aid
**Investment income**
Deposit account interest
**Charitable activities**
Income from students
Service Charges
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Pensions
Rates and water
Insurance
Light and heat
Sundries
Repairs & maintenance
In house entertainment
Renewal of furniture
Travel
Depreciation of tangible fixed assets
**Support costs**
**Management**
Telephone
Postage and stationery
Professional fees
**Finance**
Bank charges
**Governance costs**
Accountancy and Examiner's fee
Total resources expended
**Net income before gains and losses**|2024
£
19,040
-
19,040
2,798
185,050
-
185,050
206,888
48,432
4,843
6,475
18,077
19,190
10,519
20,241
2,423
6,132
-
4,329
140,661
4,640
483
1,422
6,544
178
2,340
149,724
57,164|2023
£
6,350
188| |---|---|---| |||6,538
2,251
166,769
3,777| |||170,546| |||179,335
47,840
4,784
6,762
14,369
18,045
11,690
21,808
2,622
2,567
465
3,308| |||134,260
3,916
554
3,596| |||8,066
238
2,580| |||145,144| |||34,191| This page does not form part of the statutory financial statements Page 14 ## **Link House Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024** |**Detailed Statement of Financial Activities**
**for the Year Ended 31 December 2024**||| |---|---|---| |**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net income**|2024
£
5,246
62,410|2023
£
7,804| |||41,995| This page does not form part of the statutory financial statements Page 14