NCUILsirr02541655093 The Hunter Memorial Homes Trust Durham Aged Min8workerfs Homes Association PO Box 31 The Grove 168 Front Street Chester le Street Co Durham DH3 3AZ Robson Laidler Accountants Limited Mains House 143 Front Street Chester le Street DH3 3AU Dear Sirs We confirm to the best of our knowledge and belief and having made appropriate enquiries of other directorsltrustees and officials of the charity, the following representations given to you in connection with your independent examination of the charity's financial statements for the year ended 31 March 2025. General We acknowledge as trustees our responsibility under the Charities Act 2011 and the Housing and Regeneration Act 2008 for the financial statements which give a true and fair view and for making accurate representations to you. All the accounting records have been made available to you for the purpose of your independent examination and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of management meetings, have been made available to you. The financial ststements are free of material misstatements, including omissions. We believe that the effect of uncorrected misstatements is immaterial both individually and in total. Internal Control We acknowledge our responsibility for the design and implementation of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud. There have been no irregularities (or allegations of irregularities) involving management, employees who have a significant role in internal control or olhers that Gould have a material effect on the financial statements. Assets and Liabilltles The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity's assets, except for those that are disclosed in the notes to the financial statements. We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclos8d in the notes to the financial statements all guarantees that we have given to third parties. We have no plans or intentions that may materially alter the carying value or classification of assets and liabilities reflected in the financial statements. Loans and Arrangements The charity has not granted any advances or credits to. or made guarantees on behalf of, directors other than those disclosed in the financial statemenls. Legal Claims All claims in connection with litigation that have been, or are expected to be, received hav8 been properly accrued for in the financial statements. Law and Regulations We are not aware of any irregulanties, including fraud, involving management or employees of the charity; nor are we aware of any breaches or possible breaches of statute, regulations, contracts, agreements which might prejudice the charity's going con￿rn status or that might result in the charity suffering significant penalties or other loss. No allegations of such irregularities, including fraud, or such breaches have come to our notice. Transactions with Related Parties We are not aware of any transactions with related parties requiring disclosure in the financial statements. Or". All transactions with related parties have been disclosed in the financial statements. We have made available to you all relevant infonnation concerning such transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of the Charities Act or accounting standards. Post.Balance Sheet Events There have been no events since the balance sheet date which necessitate revision of the figures included in the financial statements or inclusion of a note thereto. Should further material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a not8 thereto, we will advise you accordingly. Golng Concérn We believ8 that the charitys financial statements should be prepared on a going concem basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements. Grants and Donations All grants. donations and other income, the receipt of which is subject to specific t8rms or conditions. have been notified to you. There have been no breaches of terms or conditions in the application of such income. Yours faithfully Signed on behalf of the board of trustees. The Hunter Memorial Homes Trust Dale ..).)19.J.23 THE HUNTER MEMORIAL HOMES TRUST TRUSTEES. ANNUAL REPORT AND UNAUDITED ACCOUNTS For the year ended 31 March 2025 Incorporating the accounts of THOMAS PYE'S CHARrrY Charity Number 500818 Reglstered Charity Nurnber 51)0818 Registered Social Landlord Number A2635 11 you Would Ilke additional Inforynation regarthr￿ any of the 0￿rIty'S act*4*1esi poliaes, rules. Coff￿1•1￿ts prorKdures et please tOAtact the Asso¢latl¢Jn's Managing A9ents'.- Durtsani Aged MIT*￿e￿￿eT$. Hon)es Ass(thtk The Grove J68 Front Strtrl Che5tor-le-StrEet Ca. Durham Lx43 3YH Telephope." Fax,. Email.. (019LI 3881 LII 1019L) 3882838 Inlolldamha.org.¥k www.¢Jamha.ory.uk The Hunter Memonal Homes Trust Tntstees'winual report and UNAUOITED accounts Charity Number 500818 Contents Trustees and Advisors RepLYt of the Trustees............... Independent Examiner's Report ..... statement o., Comprehensive Income for the year ended 31 March 2025...... Statement of Financial Position as at 3 IX March 2025 Notes . .10 .11 The Hunter Memonal Homes Trust Trustees. annual report and UNAUDITED accounts Charity A14mber 500818 Tnistees and Advlsors Trustees S Foley (Chalrman) K McDonald C Livesy Cllr S Peacock (Resigned 6" March 2025) J G￿nt Advlsors Managlng Ag•nts Durham Aged Mineworkers, Homes Associatlon POBox31 The Grove 168 Fruiit Street Chester-le. Street Co, Durham DH3 3YH Independent Examine Robson Laldler Fernwood House Fernwood Road Jesmond Newcastle upon Tyne NE2 ITJ Telephone: Fax: Email: Webslte.. (0191) 3881111 10191) 3882838 info damha.or9.uk vdww.damha.org.uk Banlre TSB B ft the yelir 26,864 26,864 Revalua￿￿ comelloeficit) arlsing during the y¢ar 1,798 3.141 4,039 8.917 Balance as at 3141 M•rth 2025 125,500 38,880 3f￿,563 563.497 1.094,44J The Hunter Memorial frlomes frust Tntstees. annual rcport and UNAUDITEL> a¢tounts Charity Number 500818 Statement of Flnanclal Position as at 31•1 March 2025 Notes 2025 2025 2024 2024 Fixéd As$•tg Tanqi>le Assels Investments 41?.042 688.215 1,100,257 420,855 647.169 1,068,024 Current Asmts Debtors C05h at bank and in hand 1.377 98.657 100,034 984 98,885 99,869 Credltors: Amounts falllng due witrhin one year (3,861) (6,114) Plet Current Ass•tS 96.173 93,755 Total Assets 1,196,430 1,161,779 Cr¢dltors: Amounts falling due after more than one year 6b (101.990) {103,181) Total Net Asgets 1.094,440 1,058,598 Re•¢r¥• Permanent Endowments Investment Revaluation Reserie Desigriated Reserves.. Cydlcal Maintcnance Fund Extraordinary RÈpalrs Fun(J Rèvenue Reserve 125,500 38.880 123,702 35,739 62,192 304.371 563,497 72,151 290.373 536.633 1,094.440 1,058,598 The flnancial statements shown on pages 8 to 18 were approve(J by the Trustees on Ilth Septcmber 2025 nd were slgn on its behalf by: Chair Trustee io The Hunter Memorial Home5 Tnjst Trustees'annual report and UNAUDfiFD accounts Charity Number 500818 Notes Accounting Polkie8 Basls of accountlng The flnanoal statements of the Associatlon are prePa￿d under the li5torical cost convention, except for lrtvestments which are held at market value. Th15 is in accordance wlth applicable accountinq standarTJs, namely. UK Generally Accepted Account-ng Practice (UK GAAPI including Financlal Reportlng Standard 102 (FRS 102) and the Housing SORP 2014.. Statement of Recotntnended Pfartlce for Registered Soaal Housing Provider5 and cornply wittr.. the Accourkfing Dlrection for Private Registered ProvKlers of Social Housing 2015. While the Association is Jn Unincorporated Charity and a member Df the Natlonal AsSQCtation of Almshouses, the Assoclation Is also a Registered Social Houslng Provider. Therefore, the financial statements have been prepared in compliance with the HousiTr3 SORP 20 14 to enable cop.sistencyi ease aThJ transparency In our ￿portIng to the houslng reg￿ator Cash Flows As a small Reglstered Soclal Houslng Provider The Munter Memorlal Homes Trust have elected to se thdr eXeMp￿On to prepa* a statement of cash flows. Flxed Asset Inv•stm•nts Investments classlfled under fixed asset5 are stated at market value at the balanc• sleet date, where thls Is ￿adIlY Ident-flable. All other Investments are stated at cost. Golng Concern The Assocoation's forecasts and projecrions show that the Association should be able to continue to operate wlthln the level of Its current faciiifies and no matters have been dravm to its attentlon to sb'ggest that future fundlng may not be forthcDming on aC￿Pl￿b1e terms. After making enquiries, Ihe Trusiees have a reasonable expedalion that the A550ciatlon has adequate resources to contlnue In operab.onal exlstence for the foreseeable future. AccordlThgly. they cofttinue to adopt the going c(￿Cern ba51s In preparing these finbncial statements. Houslng Propertles Housing properties are stated at cost, less accumulated depreciation. Majw components of hou51ng properties, such as wlndows and heatlng components, have been ccounted fvr and depreclated separntely trom the IT￿In fabrlc, over thelr expected economic Ilves. Deprt¢iaty'on is charge(J at the rates applied below to wrfte off the cost of the asset over th￿r expected usefijl econ(Mnic lives. Land - Not Depreciated Main Fabri . 100 years straight line Roof 40 years straight line Electrlcals 30 years stralght Ilne Windows 2S years srraight line Extf.rnoI Doors 25 years stralght line 8athroom 20 years 5tral9ht line Kitchen 15 years stralght Ilne 8ty"ler5 15 years straight line Healing Installations 30 years straight line li The Hunter Meniorial Homes Trnst Trustee5' annual report and UNAUDrrED accounts Charity Nurnber 500818 The Socoal Houslng grant has been a?plled a9alnst the land In the flrst Instance and then to the Main Fabric of the buildiig. The grant Is ariiortised over IOQ years and released back into the Statement of Comprehensive Income. rixtures and fittlngs are depreclèted over ID yèars on a stralght Ilne basls. SKlal Housin9 Grant Sgcial Hw5ing Grant (SHG) receivp.d 45 a capital contribut￿n, in line with SORP2014 and the 'accruals method,, Is held separa*ely as a credltor due after rn0￿ than one year. unless part of the SHG relates to a dlsposal of property and becornes recycled or repayable, in which case It Is apportioned to creditors due less than one year accordingly. The 'accnJats method, is applied as Ihe RSHP holds all sodal houslng properties at thelr hIst￿C cost. The SHG is then arnortised in line wlth depreclation of the 'strurture' component of the housing properties and released over 100 year5 (1%). The amortisation released in respect of the SHG is recDgnised In the Statement of Comprehenslve Incorne as 'lncome'. Turnover represents all rental, servlce charge Income recelvable and amortlsed Sodal Houslng Grant. Value added tax The Homes are not ￿giStered tor VAT and where applicable expenditure include5 VAT. Impairnient Annually housing properties are a55essed for ifflpairment indicators. This is generally perfomied at scherne or cash-s.enerarin9 unlr level. whe￿ indlcators are Identlfled an assessment for Impalrment Is undertaken comparing the scheme's carrying amount to Its recDverable amount. Where the carryin9 amount of a scheme is deemed to exceed its recoverable arnount, the scheme is written down to it5 recoverable amount. The re5ultin9 impairment105s Is recogn15ed as opprating expenditure. Where a scheme is currently deèmed not to be providiny servlce potentlal to the Assoclaum, Its recoverable amount is Its falr value less costs to sell. Debtors Debtors are measured at transaction price, less any impairment. Crndltors Creditors are measured at transaction price. 12 The Flunter Memorfaj Homes Trust Tntstees'annual report and UNAUDITED accounts Charlty Number 500818 OesFgnated Reserves are part of ￿￿est￿cted reser￿5 whlth have been earrnèrked by the Board for a particular purpose. Such designations may be reversed by future Board decisions. Expendlture cannot be dlrectly set agalnst designaled reserves but IS taken through the StateTrent of Comprehensive Income. A transfer Is then made from designated reseprfe5 a5 appropriate. Administration The management of the Association continues to be dealt wlth by Durham A9ed Mineworker5' Hornes Association (DAMHA) a separately registered housing assoaation (5125). Rental income and administrative cost5 are received and pald by the agent a550ciation who make a mana9ement charye for acting as agent. 13 rhe Hunter Memorlal Homes frust Tntstees. annual report and UNAUDITED accounts Gtsarity Number 500818 Turnover aTrd Operating Surplus for the Year by Class of Buslness 2025 2024 Turnover from lettlngs Reiis and servlce charges receivable Amortised 9ovemment grants 52.440 1,191 53.631 48,471 1,191 49,662 Operatlng Expenditure Bad debts written off Managenent COStS Day to day repairs & maint￿anCe SeTvlces (including Water Rate5) Depreciation Totsl Expendlturo on Soclal Housiftg Lettin98 20,260 20.731 6.554 8,813 56.358 20,064 19.481 4,849 9. 398 S3,792 Vold Losses Senior Executives The Senior Executive5 are defined a5 the Trustees, who recelved no emoluments durtng the year (2024: £nil) Internst recelvable and •lmllar Incon 2025 2024 Investrnent income 29.591 27.264 Surplus on Ordlnary Artlvltks 2025 2024 The Surplus on ordinary activities is stated after charging: Auditor's remuneration Independent examiner5 fee 1.350 1,440 14 The Huntcr Mcmrial Homes frust Tru5tees' annual report and UNAUDJTED accounts Charfty Alurnber 500818 Tanglble Assets Houslno Prnperties 2025 Housrng Properties 2024 Cost: At ISI Aprll 2024 Addition5 Dlsaosals 6IO,833 610,833 At 31st March 2025 610,833 610,833 Less: Depreclatlon At 1$1 April 2024 Charge for the year Dlsposals At 31st March 2025 1189,978} {8,8131 (180,580) (9,398) (198.7911 {189,978) N•t Book Valu•: 3LSt March 2025 £412,042 £ 420,855 6b. Soclal Housing Assistance - Credftorg falling du• after more than one y•ar 2025 2024 Total accumulated social l)ousln9 9rant receiveé at 314 March 25 119.112 119,112 Recognised in the statement of comwehenslve Income (17.122) (15,931) Held as deferred income 101.990 103,181 15 The Hunter Memorlal Homes Trust Trustees, annual report and UNAUDITED accounts Charity Number 500818 Notes (continued) Flxed Asset Investments 2025 2024 Valuaknon at l# April 2024 Addllbons Disposals Surplus arI￿ng on revaluatlon At 31" March 2025 647.169 22,109 617,143 20.143 18,937 688,21S 9,883 647,169 7a Restrlcted or Desl9nated Fund Investments Endowment Fund5 ornln31 Holdln9 2025 2024 Thomas Pye's Charity, (Incorporating Charle5 Anderson's Bequest) special Range Vnit Trust NAACIF, Inc¢)me Llnlts I,836 1,109 1,669 Market Value 1,709 1,669 The Hunter Memorial Homes Trust Spedal Range Unit Irust NAACIF. Income units CharifurKI Income Units 24,750 1,962 23.037 29.789 22,500 28.569 Market Value 52,826 51,069 Designated Funds - Extraordinary Repair5 Fund Nomlnal Holding Special Range Unit Trust NAACIF. Accumulatlon Unlts 4,539 556,281 520,173 Market Valve 556,281 520,173 16 The Hunter Nemorlal Homes Trust Tru5tees' annuol report and UNAUDITED accounts Charlty Number 500818 7b Unregtrlcted Fund Investments SU￿1￿5 Income Nominal Holdlng National Savings Account Charifund Ineome Units 740 76,659 741 73,S17 5,049 Market Value 77,399 74.258 Total Mark•t Valu• at End of Year (As Abov•) 688,215 647, 169 Hlstoric Cost A5 at I" Awll Addltlons Disposals As at 311f March 290,983 290,983 290,983 290,983 Debtors 2025 2024 Rental debtors Prepayments and accrued incume 530 847 151 1333 1,377 Creditors: Amounts l•lllng du• wlthln one year 2025 2024 Prepaid rents Trade credltors and accmals Other creditor5 573 1.352 1.936 3.861 312 3,502 2,300 6,114 17 The Hunter Memorlal Homes Trust Tnisteos, annuèl report and UNAUDITED accounts Charlty Number 500818 Notes (continued) io. Credltors: Amounts falling du• after morn than one year 2025 2024 Soclal Housing Grant 101,990 103,181 101.990 103,181 ii. Capital Commitments and Contingent Liabilities As at 31st Marth 2025 there were no capltal commltments. 18 robson-laidler.co.uk Fernwood House, Fernwood Road, Jesmond Newcastle, NE2 1TJ ## The Hunter Memorial Homes Independent examination report for the year ended 31 March 2025 1 ## Contents |**_Contents_**|**_2_**| |---|---| |**_Overview_**|**_3_**| |**_Adjustments - profit reconciliation_**|**_3_**| |**_Discussion points_**|**_3_**| |**_Other areas for consideration_**|**_4_**| |**Operating leases**|**4**| |**_Your accounting policies_**|**_4_**| |**_Proposed opinion_**|**_4_**| 2 ## Overview This report highlights the key findings from our independent examination of the financial statement of The Hunter Memorial Homes in relation to the year ended 31 March 2025. ## Adjustments - profit reconciliation The following adjustments have been made to the initial figures presented to us: |Surplus/ (Deficit) per figures presented to us|£
**26,864**| |---|---| ||| |Surplus/(Deficit) per draft accounts|**26,864**| ## Discussion points **1. Income** : income has seen a slight increase in comparison to prior years as expected. **2. Expenditure:** expenditure has also risen slightly in the year which would be expected due to inflation and rising costs on a year to year basis. **3. Surplus:** overall a surplus of £27k was achieved, slightly improved on the prior year. This was achieved as the additional expenditure incurred in relation to the fire doors was “spent” from designated reserves so did not impact the main Income and Expenditure Reserves. **4. Accountancy accrual** we noted that accountancy fees had been accrued based on an estimate of prior year fees. We will be able to provide a quote prior to YE 31.03.26 so that this can be accurately reflected in future years. **5. Balance Sheet :** the balance sheet has remained stable during the year with closing total funds of £1.09m., £563k of which is classed as revenue reserve. Reserve levels are rising and consideration could be given on how to reinvest some of these funds. **6. Investment valuations** : the value of the National Savings Account included within investments has remained unchanged in the year at £740. We understand that efforts are being made to obtain the relevant paperwork in relation to this investment in order for the correct valuation to be included within the accounts accurately in future years, however given the current value of the investment any change in the current year would not be considered material. **7. Rental debtors/prepaid rents** : we identified that there were several balances that look to be outstanding from prior years. We recommend a review of older balances is carried out in the current year and any bad debt provision provided. **8. Trustees report** : as a charity a reserves policy should be included within the trustees report. The reserves policy should explain what the current level of reserves is and what level of reserves is targeted to be held and why. We would recommend that this is considered and included in future years. **9. Charity Commission:** We would recommend that information such as changes to trustees are updated with the Charity Commission on a timely basis. We also noted in prior years the letter of representation, along with the audit findings report were filed at Charity Commission. Please note neither of these documents should be filed with Charity Commission in future. Only the accounts (including the trustees report) should be filed. 3 ## Other areas for consideration ## Operating leases Changes to accounting standards will require that long term operating leases be recognised as an asset on the balance sheet for accounting periods starting on or after 1 January 2026. This is noted for information purposes only and will not impact on the current financial statements. ## Your accounting policies As part of our audit procedures, we consider whether your accounting policies are appropriate to the charity’s circumstance and consistently applied. If there are alternative accounting policies that could be applied in your circumstances, we point these out to you to consider. We believe that all your accounting policies are appropriate to the company and correctly applied. ## Proposed opinion Subject to any material points noted above being addressed then it is our intention to issue an unqualified or clean Independent examiners report. 4