THE STABLE ALMSHOUSE TRUST
TRUSTEES REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
CHARITY REGISTRATION NUMBER 810281
Bank:
Charities Aid Foundation Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ
Independent Examiner:
SA(D££QIQ)JVI£s
Accountants c£ f￿A￿l￿SOrS
(op Eloor, West ffillyiozLse
West ffill
(Dartfor
Kent
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THE STABLE ALMSHOUSE TRusr
Chari
re
istration 810281
ort of the Trustees for the Year Ended 31st December 2024
Annual Re
The trust comprises four self- contained flats known as the almshouses, one house and a
small single storey building providing office space to St Paulinus Church. The properties are
situated in 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. In November 2024 the house (16) was let at a residential
rent, (previously under the Fair Rent Act) the surplus 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.
Liverniores Estate Agents manage the properties. In 2021 sound and fireproofing 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 the chimney stscks
of the almshouses were made safe. In 2024 the house became vacant. It needed a major
renovation which was catried out over 6 months at a cost of £165,000.
Reserves:
In 1976 the trustees set up a repair fund for the property, which is invested in the Charities
Official Investment Fund (COIF) to be used as a long-terni investment for future repairs and
there is a cyclical maintenance fund for routine repairs invested in a COIF deposit fund. Due
to the renovation of the house, no transfers have been made into these reserves. The house is
now leL and this should over time, replenish the reserves.
Trustees:
Andrew Sinclair (Chair), Carol Demuth (Treasurer), David Day, Revd. Paul Prentice (Rector
rd
St Paulinus Church). Cllr. Geraldene Lucia-Hennis (resigned 3 October 2024) 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 fmancial 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 suitsble 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 fmancial
statements.
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 Stsble Almshouse Trust
Charity registration 810281
Statement of Assets and Liabilities
as at 31st December 2024
NOTE
2024
2023
FIXED ASSETS
Housing and other properties
Investments
54,153.44
13,152.50
67,305.94
54,153.44
100,104.62
154,258.06
CURRENT ASSETS
Balance at bank: Current
Balance at bank.. Deposit
Debtor- Livermores
4,858.34
4,411.85
469.92
9,740.11
8,129.65
43.408.08
2.078.66
53,816.39
CREDITORS: Amounts falling due within one year
NET CURRENT ASSETS
(500.00)
9.240.11
(500.00)
53,116.39
TOTAL ASSETS LESS CURRENT LIABILITIES
£76,546.05
£207,374.45
FUNDS OF THE CHARITY
Property reserve: restricted
Endowment Fund: restricted
Cyclical Maintenance Fund:designated
Extraordinary Repair Fund:designated
Accumulated General Reserves
54,153.44
646.00
8,343.18
4,163.32
9,240.11
£76,546.05
54.153.44
646.00
28,343.18
71,115.44
53.116.39
£207,374.45
These financial statements were approved by the trustees on
Si
ned on behalf of the trustees..
Andrew Sinclair (Chair)
Date 11- r1(LLlL￿ Jo

The Stable Almshouse Trust
Charity registration 810281
Statement of Financial Activities
for the Year Ended 31st December 2024
Unrestricted Funds
2024
2023
NOTE
INCOMING RESOURCES
Income from Charitable Activities
Income from Permanent Endowment
Donation from Swaisland Trust
Profit from sale of ERF units
Deposit account interest
Current account interest
TOTAL INCOMING RESOURCES
27.041.00
71.25
10,000.00
46,953.33
2,190.93
28.87
86,285.38
30,492.00
70.28
21,186.34
1,425.49
19.94
53.194.05
RESOURCES EXPENDED
Management expenses
Repairs & Maintenance-routine
Repairs & Maintenance-non routine
TOTAL EXPENDITURE
38,785.39
12,846.94
165 576.00
217,208.33
7,856.64
6,654.00
16 158.00
30,668.64
NET
OUTGOING
IINCOMING
(130,922.95)
22,525.41
TRANSFERS FROM FUNDS TO GENERAL
Cyclical Maintenance Fund withdrawal
Extraordinary Fund addition
Extraordinary Fund withdrawal
20,000.00
(5,685.00)
(3.310.00)
14.238.60
67 046.67
87,046.67
NET MOVEMENT IN FUNDS
(43.876.28)
27,769.01
GENEIIAL FUNDS BROUGHT FORWARD
53,116.39
25,347.38
GENERAL FUNDS CARRIED FORWARD
£9,240.11
£53 116.39

The Stable Almshouse Trust
Charlty registration 810281
Notes to the Accounts 31st December 2024
ACCOUNTING POLICIES
1.1 Ba51s of proparatlon of accounts
The financial statements are prepared under the historical cost convention and include the result of the charlty's operations
which are described in the Trustee's Report and all of which are ¢ontinuing.
1.2 Tanglble fixed assets for use by the charity and depreclation.
Tangible fixed assets for use by the charity are slated al valuation by the trustees at 3rd October 1994. Grants re￿iVed by the
charity have been shown as a deduction from the valuation of the hlstorlcal eosl. All tangible r￿ed assets are held to benefit the
charitys beneficiaries.
Depreciation has not been charged as the market value exceeds the historical cost valuation.
1.3 In¢ome
The income from rents and investments are shown gross. Income from pemartenl endowments have been received in the
period as staled in the accounts.
1.4 Taxation
Value added tax is not ￿COVerable by the charity. and as such is induded in the relevant Costs In the Statement of Financ¢al
Activities. The charlty does not pay lax as it does not Irade.
2 ORIGIN
The Charity was created by Indenture dated 4th October 1876 to recognise and comm8moTate the material assistan￿ given by
Sophia Swaisland and Ellen Stable, in the charitable work of Henry Moreland Austen, fonner Rector of Crayford.
3 FREEHOLD PROPERTY
2024
Valuation made 311011994
Less:
Housing Association Grant
Swaisland Trust Donatiorb
Bexley Council Grant
171.592
96.039
3.000
18,399
117.438
NET BOOK VALUE
£54.154
The almshouses and other properties We￿ constructed in the late Nineteenth Century. There is no record of the original cost.
The freehold was gifted lo the charitable trust in 1876. The above details relate lo major improvements carried out in 1994,
which separated Ihe two shared houses into four independent flats. This upgrade was funded by 8 Housing Association grant. a
grant from Bexley Council and an interest free unsecured loan from the Almshouse Association.
The 5 properties are insured for £1,397,716 and a desktop valuation for rebuilding was carried out November 2023.

The Stsble Almshouse Trust
Charity registration 810281
Notes to the Accounts 31st December 2024
4 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 as base ¢ost. Income is transferred straight to general reserves (Note 7)
2024
2023
Bas¢ cost
Market value at the end of year @ £19.845 per share
{ £18.1749 per share 2022)
The market value in total is £93.07 less than the 2021 value.
646.00
646.00
£2,560.00
£2,560.00
4.2 Extraordlna
Ir Fund
The ERF was established in 1976 and consists COIF Charities Investment Fund a¢¢umulation units. This is a long term
investment to meet costs of major structural repairs and improvements in the future.
Re
ERF
2024
71,115.44
2023
79,084.04
3,310.00
2,960.00
14,238.60
71,11 6.44
Cost attributable at beginning of year.. 598.01 units
Additions to fund- O units
Net distributions reinvested
Sale of 444.74 units at cost
Cosl attributable at end of year. 17.6829 units
94.55
67,046.67
4.163.32
Market value at beginning of year
Increase due to distributions reinvested
Additions to fund
Proceeds of sale
Increase in rnarket value I Idevaluationl
Market value at year end @ £26.06156 per unlt
114,680.30
94.55
131.980.21
2.960.00
3.310.00
135.424.94)
11.855.03
114,680.30
(114,000.00}
3,833.59
4.608.44
444.74 COIF accumulation units were sold in 2024 to help fund the renovation of number 16.
4.3 C cllcal Malntenance Fund
MF
Lon
temi de
osit
Established by transfer of general reserves in 1999 to meet maintenance oc¢urring at regular intervals such as internal or
8Xtemal de¢orations, repairs and renewals.
2024
28,343.18
2023
22,658.18
5.685.00
1,046.82
1,046.82
£28.343.18
COIF Charities Deposit Fund bfivd
Additions
Interest
Transfrried to General Reserves
1,187.16
21.187.16
£8,343.18
Total cost { notes 4.1, 4.2, 4.3,) -all inve$tments
£13.1 S2.SO
£100,104.62
2024
469.92
2023
2,078.66
5 DEBTOR: Llv6mores Managlng Agent
CREDITORS: Amounts falling dug Wlthin oneyear
Independent examination fee
Carol Demuth honorarium
500.00
500.00
£soo.00
£500.00

The Stable Almshouse Trust
Charity registration 810281
Notes to the Accounts 31st December 2024
6 PROPERTY INCOME
2024
Full income
11.110.00
22,600.00
2024
Income rec'd
4.441.00
22.600.00
6,669.00
33,710.00
Resldential rent receivable {excluding almshouses)
Contributions receivable from almshouse tenants
Rent losses from void$
33,710.00
The average assured tenancy rent assuming no voids for housing ac¢omodation15 dwellings) is £6,742 which is a 10.5%
increase on 20231£6.098.401 based on full income.
INVESTMENT INCOME
Net distribution COIF pem)anent endowment fvnd.
2024
71.25
71.25
023
70.28
70.28
MANAGEMENT EXPENSES
Est8tg costs
Vacant propety expenses
Insurance
Gas Servi￿ contracts
Gardening and tree work
2024
2023
954.94
1,798.75
804.00
30.550.00
34,107.69
1.546.61
1.068.00
1.365.00
£3,979.61
Management
Agent's commlsslon
¢ountancy
Independent examinerfs fee
Bank charges
Subscriptions
3,902.55
2,927.28
300.00
408.00
60.00
181.75
3,877.03
408.00
60.00
307.15
4,677.70
oth8r operating costs
TV Licence
Total Managemont Costs
38,785.39
7,856.64
Restricted Restricted Designated Designated Unrestricted
Property Endowmen
Cyclical
Extraordinar
General
Reserve
Maintenance
y Repair
reserve
54.153.44
646.00
28.343.18
71,115.44
53.116.39 207,374.45
71.25
1,187.16
94.55
87,046.67
88,399.63
(71.25) (21,187.16) (67,046.67) (130,922.95) (219,228.03)
Total
Reserves
Movement In Funds
Brought forward
Additions
Withdrawals
Transfers
Carried fO￿ard
54,153.44
646.00
8,343.18
4,163.32
9.240.11
76,546.05

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE STABLE ALMSHOUSE TRUST
CHARITY REGISTRATION NUMBER 810281
5t
I report on the accounts of the Trust for the year ended 31 December 2024. which are set out
on pages I to 6.
Respective responsibilities of the trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's
trustees consider that an audit is not required for this year under section 144(2) of the
Charities Act 2011 (the 201 l Act) or under Regulation l O(l)(d) of the Charities Accounts
(Scotland) Regulations 2006 (the 2006 Accounts Regulations) and that an independent
examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the Charities Act 2011
to follow the procedures laid down in the general Directions given by the Charity
Commission under section 145(5)(b) of the 201 l Act" and
to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the
Charity Commission. An examination includes a review of the accounting records kept by
the charity and a comparison of the accounts presented with those records. It also includes
consideration of any unusual items or disclosures in the accounts, and seeking explanations
from you as trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit, and consequendy no opinion is given as to
whether the accounts present a "true and fair view" and the report is limited to those matters
set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(l) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 130 of the 201 l Act" and
to prepare accounts which accord with the accounting records and to comply with the
accounting requirements of the Act have not been met" or
(2) to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Name:
Date:
2slosl2QLS
Sadler Davies
Accountants & Tax Advisors
Top Floor West Hill House
Dartford
Kent DAI 2EU