THE STABLEI ALMSHOUSE TRUST
TRUSTEES REPORT AND ACCOUNTS
FOR THE AR KNDED 31ST DECEMBER 2023
CHARITY REGISTRATION NUMBER 810281
Banli:
Charities Aid Fo￿IdatIon Bank Ltd
25 Icings Hill Avenue
Icings Hill
West Malliiig
IQ¢nt MEI 9 4JQ
Independent Examiner:
SADLER DAVILI S & CO
3 Li nterprise House
8 Essex Road
Dartford
Kent
DAI 2AU

THE STABLEI ALMSHOUSE TRUST
NDEP£t4lDlI NT EXAMINERIS REI PORT
FOR TIIE YEAR 31 Dll CEMBER 2023
INDEPENDENT EXAMINER'S REPORT TO TIIE STAJILE ALMSHOUSE TRUST
Tliis report on the financial statements of tlie TFIE STABLE ALMSHOUSEI TRUST for tlie year
ended 31 December 2023, wliicli are sel on pages I to 6 is in respect ol an examination carried out in
accordance with s145 of the Charilies Acl 2011 (the Act).
Respective responsibilities of the triistces aud the ex4lminer
As the cliarity trustees are responsible for the preparation of the accounts. you consider that the audit
reqiiirement of section 144(2) of the Act does not apply and that independent exainination is
needed.
Basis of independent examiner's report
Our examinatioii was carried out in accordaiice with tlie general directions given by tlie Cliarity
Conllnission. The examination includes a review of the accounting records kept by tlie Charity and a
comparison of the accounts presented witli tliose records. It also includes consideration of ally unusual
items or disclosurcs in tlie accounts ￿]d seekiiig explcinations from you as trustees concerning any
such matters. Tjie procedures undertaken do not provide all the evidence that would be required in an
audit, and consequently we do not express an audit opinion on tlie vicw given by the accounts.
Independent examiner's statement
lil corniection with our examination, no inatter lias come to our attention:
(l) which gives us recisonable cause to believe tliat in any material respect the requirements:
to keep accounting records in accord<1nce willi section 130 of the Act. and
to pi"epare financial statements wliicli accord witli the accounting records and comply with
tlie requirements of the Act:
have not been inet" or
(2) to which, in our opinion, attention should be drawn iii order to eiiable a proper understanding
of tlie accounts to be i"eached" or
(3) whicli gives us reasonable cause to believe tliat in any Tnaterial respect tlie accouiiting rules of
the cliar
ns
n have not beeii met.
Gemma
iogarty riCA
SADLER DAVIEI S & CO
3 Enterprise House
8 Essex Road
Dartford
Kent
DAI 2AU
3O,oq. 101

THE STABLE ALMSHOUSE TRUST
Chari
re
istration 810281
ort of the Trustees for the Year Ended 31$t December 2023
Annual Re
The trust comprises four self- contained flats known as the almshouses, one house and a
small building providing office space to St Paulinus Church. The properties are situated Én
Iron Mill Lane, Crayford. Kent DAI 4RW.
Ob'ectives and Public benefit: The trust deed, which has been in existence since 1876,
provides housing for widows or single women over the age of sixty by way of almshouses
(12, 12a, 14, 14a) in Iron Mill Lane. The house (16) is let at a fair rent, the sU￿lUS from
which is to be used to contribute towards the upkeep of the almshouses. 8A is used as the
parish office and no rent is charged. Livernlores Estate Agents manage the properties. In
2017 all windows in the properties were replaced with wooden framed double-glazed units at
a cost of £40,500. In 2018 the windows for 8a were replaced at a cost of £8,123 and in 2022
the roof was replaced costing £27,219. In 2021 sound and fire proofing was installed between
12 and 12a and the upstairs flat was refurbished at a total cost of £19,100. In 2023 the roof
and chimney stacks of no 16 were repaired and in 2024 no 16 will need to be renovated.
Reserves:
In 1976 the trustees set up a repair fund for the propety, which is invested in the Charities
Official Investment Fund (COIF) to be used as a long-tern] investLnent for future repairs and
there is a cyclical maintenance fund for routine repairs invested in a COIF deposit fund.
Amounts transferred into these reserves each year are in line with the recommendations of the
National Almshouse Association.
Trustees:
Andrew Sinclair (Chair), Carol Demuth (Treasurer), David Day, Revd. Paul Prentice (Rector
St Paulinus Church). Cllr. Geraldene Lucia-Hennis and Cllr Melvin Seymour are Local
Authority appointed Trustees.
Trustees res
onsibilities
The trustees are required under the Charities Act 2011 to prepare financial statements for
each financial year which give a true and fair view of the charity's financial activities during
the year and of its financial position at the end of the year. In preparing financial statements
giving a true and fair view. the trustees should follow best practice and:
(a)
Select suitable accounting policies and apply them consistently.
(b)
Make suitable judgements and estimates that are reasonable and prudent.
(c)
State whether applicable accounting standards of recommended practice have been
followed, subject to any departures disclosed and explained in the financial
stateLnents.
Prepare the financial statements on a going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
(d)
The trustees are responsible for keeping accounting records, which enable them to disclose
with reasonable accuracy the financial position of the charity, and for ensuring that they
comply with applicable law and regulations. They are also responsible for safeguarding the
assets of the charity and for taking reasonable steps for the prevention and detection of fraud
and other irregularities.

The Stable Almshouse Trust
Charity registration 810281
ststement of Assets and Liabilities
as at 31st December 2023
NOTE
2023
2022
FIXED ASSETS
Housing and other properties
Investments
54,153.44
100,104.62
154.258.06
54,153.44
102,388.22
156,541.66
CURRENT ASSETS
Balance at bank: Current
Balance at bank.. Deposit
Debtor- Livermores Dec rent rec'd Jan2024
8.129.65
43,408.08
2.078.66
53,616.39
4,318.91
20,227.41
1,901.06
26,447.38
CREDITORS: Amounts falling due within one year
NET CURRENT ASSETS
(500.00)
53,116.39
(1,100.00)
25,347.38
TOTAL ASSETS LESS CURRENT LIABILITIES
£207,374.45
£181,889.04
FUNDS OF THE CHARITY
Property reseNe'. restricted
Endowment Fund.. restricted
Cyclical Maintenants Fund:designated
Extraordinary Repair Fund:designated
Accumulated General Reserves
54.153.44
648.00
28,343.18
71,115.44
53.116.39
£207.374.45
54,153.44
646.00
22,658.18
79,084.04
25,347.38
£181.889.04
These financial statements were approved by the tTustees on
ned on behalf of the trustees..
Andrew Sinclair (Chair)
2310412024

The Stable Almshouse Trust
Charity registratlon 810281
Statement of Financial Activities
for the Year Ended 31st December 2023
Unrestricted Funds
2023
2022
NOTE
INCOMING RESOURCES
Income from Charitable Activities
Income from Permanent Endowment
Profit from sale of ERF units
Deposit account interest
Current account interest
TOTAL INCOMING RESOURCES
30,492.00
70.28
21,186.34
1,425.49
19.94
53,194.05
30,552.00
70.01
238.08
11.22
30,871.31
RESOURCES EXPENDED
Management expenses
Repairs & Maintenance-routine
Repairs & Maintenance-non routine
TOTAL EXPENDITURE
7,856.64
6,654.00
16,158.00
30.668.64
7,407.78
5,110.00
18,843.12
31,360.90
NET
OUTGOING
IINCOMING
22,525.41
(489.59)
TRANSFERS TO I (FROM) FUNDS
Cyclical Maintenance Fund
Extraordinary Fund
Extraordinary Fund withdrawal
{5,685.00)
(3,310.00)
14 238.60
4,915.00
(2,960.00)
5,243.60
NET MOVEMENT IN FUNDS
27,769.01
1,465.41
GENERAL FUNDS BROUGHT FORWARD
25,347.38
23,881.97
GENERAL FUNDS CARRIED FORWARD
£53 116.39
£25,347.38

The Stable Almshouse Trust
Charity registration 810281
Notes to the Accounts 31st December 2023
I ACCOUNTING POLICIES
1.1 Basi5 of proparation of accounts
The financial statements a￿ prepared under the historical cost convention and include the result of the charity's operations
which are described in the Trustee's Report and all of which are continuing.
1.2 Tangible fixed a888ts for use by the charlty and depreciation.
Tangible fixed assets for use by the charity are slated at valuation by the trustees at 3rd October 1994. Grants received by the
charity have been shown as a deduction from the valuation ol the histarical cost. All tangible fixed assets are held lo benefit the
charity's beneficiaries.
Depre¢iation has not been charged as the market value eX￿ed6 the historical cost valuation.
1.3 Income
The income from rents and investments are shown gross. Income from pemianent endowments have been received in the
period as slated in the aecounts.
1.4 Taxation
Value added tax is not recoverable by the chaiity, and as such is induded in the relevant costs in the Stalemenl of Financial
Activities. The charity does not pay tsx as it does not trade.
1.5 Management and adrninistration expenditure
Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable
activity. This in¢ludes costs of a managing agent, independent examiner and 8¢¢ountsncy fees. The accounlanGy fee of £300 is
payable to C Demuth who is a Iruslee, and is an honorarium to cover expenses.
2 ORIGIN
The charity was creatsd by Indgnture dated 4th October 1876 to recognise and commemorate the material assistance given by
Sophia Swaisland and Ellen Stable. in the charitable worl( of Henry Moreland Austen. former Rector of Crayford.
3 FREEHOLD PROPERTY
2023
Valuation made 311011994
Less:
Housing Association Grant
Swaisland Trust Donation
Bexley Council Grant
171,592
96,039
3.000
18,399
117,438
NET 800KVALUE
£54,154
The almshouses and other properties were constructed in the late Nineteenth Century. There is no record of the OTiginal cost.
The freehold was gifted to the charitable trust in 1876. The above details relate to major improvements carried out in 1994. which
separated the shared houses into four independent flats. This UP9Tade was funded by a Housing Association granL a grant
from Bexley Council and an interest free un5e¢ured loan from the Almshouse Association.
The 6 properties are insured for £1,364.691 in total, after a desktop valuation for ￿bUilding was carried out Nov 2023.

The Stable Almshouse Trust
Charity registration 810281
Notes to the Accounts 31st December 2023
INVESTMENTS AND LONG TERM DEPOSITS
4.1 Pemianent Endowment fund
The original cost of the 129 COIF Charites Investment Fund income shares is not known and their value at 31 st December 1991
has been attributed 88 base cost. InGome is transferred straight lo general reserves (Note 71
2023
2022
Base co8t
Market value at the end of year @ £19.845 per share
1 £18.1749 per share 20221
The market value in total is £93.07 less than the 2021 value.
646.00
646.00
£2,560.00
£2.344.56
4.2 Extraordina
Rè alrFund
The ERF was established in 1976 and consists COIF Charities Investment Fund accumulation units. This is a long temi
investment to meet costs of major structural repaiis and improvements in the future.
2023
79,084.04
3,310.00
2,960.00
14.238.60
71,115.44
2022
73,572.04
2,960.00
2,552.00
Cost attributsble at beginning of year.. 598.01 units
Additions to fund.. 14.41 units
Net distributions reinvested
Sale of 150 units at cost
Cost att¥ibulable at end of year: 462.42 units
79,084.04
Mafket value at beginning of year
Increase due to distributions reinvestsd
Additions to fund
Proceeds of sale {for roof & chimney repairs)
Increase in market value I Idevaluationl
Market value al year end @ £24.80003 per unil
131,980.21
2.960.00
3,310.00
(35,424.941
11,855.03
114,680.30
141.785.93
2.552.00
2,960.00
15.317.72
131.980.21
150 units were sold in November for the ￿paIrS to roof and chimney slacks of 16 and the almshouses. 16 was completed in
2023 and Ihe rest will be carried out in 2024.
4.3 C Ilcal Malntenance Fund
CM
Lon
tenn de
Established by transfer of general reserves in 1999 to meet maintenance occurring at ￿gUlar intetvals such as internal or
external decoration$. ￿paIrS and ￿neWa1$.
2023
22.658.18
5,685.00
1,046.82
1,046.82
£28,343.18
2022
27,573.18
5,085.00
174.02
10.174.02
£22.658.18
COIF Charities Deposit Fund b
Additions
Interest
Transferred lo General Reserves
Total cost ( nots8 4.1. 4.2. 4.3,}-all Investments
£100,104.62
£102,388.22
2023
2,078.66
2022
1,901.06
S DEBTOR: Livgrniores Managlng Agent
CREDITORS: Amounts falling duo within one year
Independent examination fee
Carol Demuth honorarium 2021 & 2022
500.00
500.00
600.00
£500.00
£1,100.00

The Stable Almshouse Trust
Charity registration 810281
Notes to the Accounts 31st December 2023
PROPERTY INCOME
2023
Full income
8,892.00
21,600.00
2023
Income rec'd
8,892.00
21,600.00
Residential rent ￿CeiVable {excluding almshouses)
Contributions receivable from almshouse tenan15
Rent losses from voids
30,492.00
30,492.00
The average assured tenancy rent assuming no voids for housing accomodation1S dwellings) is £6,098.40, which is a 1.25%
increase on 2022 (£6,023.40) based on full income.
7 INVESTMENT INCOME
Net distribution COIF pemartent endowment fund.
2022
70.01
70.01
70.28
70.28
MANAGEMENT EXPENSES
Es18te costs
Vacant propety expenses
Insurance
Gas service contracts
Gardening and tree work
2023
2022
89.65
1,234.09
828.00
1.365.00
£3,516.74
1,546.61
1,068.00
1.365.00
3,979.61
M8n8g8ment
Agenvs commission
Accountancy
Independent examineffs fee
Bank charges
Subscriptions
2,927.28
300.00
408.00
60.00
181.75
3,877.03
2.933.04
300.00
408.00
81.00
169.00
3,891.04
Olh8r operatsng ¢osts
TV Licen
Total ljlanagement Costs
7,856.64
7.407.78
Restricted Restricted
Designated
Designated Unrestricted
Property Endowment
Cyclical
Extraordinary General
Reserve
Inveslments Maintenan
Repair
reserve
Total
646.00
22.658.18
79.084.04
25,347.38 181,889.04
70.28
1.046.82
2,960.00 36,764.01
40.841.11
(70.28)
(1.046.82) (14,238.60)
(15.355.70)
5.685.00
3,310.00
28,343.18
71,115.44
Movement in Funds
Brought forward
Additions
Withdrawals
Transfers
Carried forward
54,153.44
8,995.00
53.116.39 207,374.45
54,153.44
646.00