IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.4.23 31.3.24 31.3.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true false true true true false true false true iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096424002023-03-31096424002024-03-31096424002023-04-012024-03-31096424002022-03-31096424002022-04-012023-03-31096424002023-03-3109642400ns0:CharitableCompanyLimitedByGuarantee2023-04-012024-03-3109642400ns15:PoundSterling2023-04-012024-03-3109642400ns11:FRS1022023-04-012024-03-3109642400ns11:IndependentExaminationCharity2023-04-012024-03-3109642400ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109642400ns11:FullAccounts2023-04-012024-03-3109642400ns11:CharitiesSORP2023-04-012024-03-310964240022023-04-012024-03-3109642400ns16:EnglandWales2023-04-012024-03-3109642400ns11:RegisteredOffice2023-04-012024-03-3109642400ns0:Trustee12023-04-012024-03-3109642400ns0:Trustee22023-04-012024-03-3109642400ns0:Trustee32023-04-012024-03-3109642400ns0:Trustee42023-04-012024-03-3109642400ns0:Trustee52023-04-012024-03-3109642400ns0:Trustee62023-04-012024-03-3109642400ns0:Trustee72023-04-012024-03-3109642400ns0:Trustee82023-04-012024-03-3109642400ns0:Trustee92023-04-012024-03-3109642400ns0:Trustee102023-04-012024-03-3109642400ns0:TotalUnrestrictedFunds2023-04-012024-03-3109642400ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3109642400ns0:Activity82023-04-012024-03-3109642400ns0:TotalUnrestrictedFundsns0:Activity82023-04-012024-03-3109642400ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-04-012024-03-3109642400ns0:Activity82022-04-012023-03-3109642400ns0:TotalUnrestrictedFunds2023-03-3109642400ns0:TotalRestrictedIncomeFunds2023-03-3109642400ns0:TotalUnrestrictedFunds2024-03-3109642400ns0:TotalRestrictedIncomeFunds2024-03-3109642400ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-03-3109642400ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-03-3109642400ns10:WithinOneYear2024-03-3109642400ns10:WithinOneYear2023-03-3109642400ns10:AfterOneYearns0:TotalUnrestrictedFunds2024-03-3109642400ns10:AfterOneYearns0:TotalRestrictedIncomeFunds2024-03-3109642400ns10:AfterOneYear2024-03-3109642400ns10:AfterOneYear2023-03-3109642400ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-04-012024-03-3109642400ns10:PlantMachinery2023-04-012024-03-310964240022023-04-012024-03-310964240012023-04-012024-03-310964240012022-04-012023-03-3109642400ns10:OwnedAssets2023-04-012024-03-3109642400ns10:OwnedAssets2022-04-012023-03-3109642400ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-03-3109642400ns10:PlantMachinery2023-03-3109642400ns10:OwnedOrFreeholdAssetsns10:LandBuildings2024-03-3109642400ns10:PlantMachinery2024-03-3109642400ns10:OwnedOrFreeholdAssetsns10:LandBuildings2023-03-3109642400ns10:PlantMachinery2023-03-3109642400ns10:ListedExchangeTradedns10:CostValuation2023-03-3109642400ns10:CostValuation2023-03-3109642400ns10:ListedExchangeTradedns10:AdditionsToInvestments2024-03-3109642400ns10:AdditionsToInvestments2024-03-3109642400ns10:DisposalsRepaymentsInvestmentsns10:ListedExchangeTraded2024-03-3109642400ns10:DisposalsRepaymentsInvestments2024-03-3109642400ns10:RevaluationsIncreaseDecreaseInInvestmentsns10:ListedExchangeTraded2024-03-3109642400ns10:RevaluationsIncreaseDecreaseInInvestments2024-03-3109642400ns10:ListedExchangeTradedns10:CostValuation2024-03-3109642400ns10:CostValuation2024-03-3109642400ns10:WithinOneYear2022-03-31
REGISTERED COMPANY NUMBER: 09642400 (England and Wales)
REGISTERED CHARITY NUMBER: 1166703











REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE FRIENDLY ALMSHOUSES
(A COMPANY LIMITED BY GUARANTEE)

THE FRIENDLY ALMSHOUSES






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Balance Sheet 8 to 9

Notes to the Financial Statements 10 to 16

THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with a summary of the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting 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 (FRS102), effective 1 January 2019.

OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the Charity is set out in the Scheme of the Charity Commissioners dated 12th December 1980. This is "... to relieve and assist, by the provision of housing and associated amenities, needy women of good character over the age of 60 years... resident within ten miles of St Paul's Cathedral". In 1993, with the consent of the Charity Commissioners, the minimum age at entry was lowered to 50 years.

Women interested in taking up residence in the Almshouses may be referred by social services and other local agencies, or they may approach us directly.

The Charity currently has 20 flats, distributed between the Victoria Cottages and Martindale House, available for occupation. Residents lead independent lives, though the wardens and Clerk are available to provide support and help in dealing with personal and practical problems. When not constrained by the lockdown requirements, participation in the community life and its many activities is much encouraged, and the quarterly residents' meetings provide the opportunity for discussion and exchange of ideas between residents and trustees.

Public benefit
The trustees have considered the activities of the Charity, its achievements for the year to 31 March 2024 and its plans for the future against the public benefit guidance issued by the Charity Commission. They agreed that the public who benefit from the Charity's work are those who are described in the Charity's objectives and aims as noted above and is essentially the same as that envisaged by the founders: "for the provision of permanent relief to poor and aged women. It is a Society managed by women for women...".

Social investments
Programme related investments, in the form of freehold property, have contributed towards the achievement of the Charity's aims and objectives because these properties are used to provide the social housing for Charity's beneficiaries.


THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
2022 & 2023 was a turbulent period for the UK and the world economy with global conflict in the Ukraine and the Middle East. While the cost of living has continued to rise in the UK since 2022, with the annual rate of inflation reaching a peak at 11.1% in October 2023, according to the Consumer Price Index (CPI) the rate of inflation in the comparative period has however dropped to 4.6% in October 2023.

Nonetheless, despite these uncertain economic times the charity has managed to improve its financial position - both from a cash generation and balance sheet point of view. With careful management and investment, our income position continues to be strong with the majority of residents qualifying for full housing benefit. Both our fixed and variable expenditure is judiciously managed in-house by bookkeeper Niyi Ogunsina and by prudent investment with Rathbones and CCLA. This has allowed us to make good progress in building our annual reserves, obviously a crucial component in taking forward any future plans the charity may have for the Colville site. Significantly we also upgraded the whole of our central heating system in October 2022, allowing our residents to enjoy the benefits of improved efficiency and reliability.

Throughout the year we held several successful gatherings, lunches and coffee mornings, raising funds for Macmillan Cancer as well as for a community barbecue for the residents; while a little further afield many of the residents explored the legendary and varied delights of the Chelsea Physic Garden. These shared adventures foster a sense of community, reduce feelings of isolation and forge happy memories for the years to come. We will be organising many more such outings in the future.

In September 2023, we welcomed trustees from The Story of Christmas charity and gave them lunch in the new Summer House acquired as a result of their generous grant. Aware of our rather secluded, tucked away location, we have been organising a series of outreach events to the wider Brixton community, enabling us to demonstrate to relevant agencies what the Almshouses provision has to offer. The gardens behind our Victoria cottages continue to provide a peaceful sanctuary and a wonderful focal point to be enjoyed by residents and visitors alike.

The cultural diversity of our residents is one of the characteristics that make our Almshouses unique and equally it takes special people to respond to the challenging needs of an older community. I would particularly like to highlight Senior Support Manager, Ronnie Marr, who is quite simply a human dynamo and on behalf of the trustees I would like to thank her for her unwavering commitment, energy and enthusiasm which sets the tone for the whole community. TFA only runs with the help of a committed team, and I would also like to thank all my volunteer trustees for their time, guidance, hard work, perseverance and good humour over the past year.





Felicity Stonehill
Chair to the Board of Trustees October 2024


THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW
Financial position
The Charity's income continues to derive principally from the weekly maintenance contributions (WMC) paid by its beneficiaries. The majority of this income is drawn from housing benefit, and as the Charity has been deemed exempt from the housing benefit cap, this is a reliable income stream with potential for increase when required.

The Charity generated £118k (2023: £135k) from operating activities (excluding grants and donations) during the year to 31 March 2024. This leaves us well placed to service the remaining Almshouse Association loan of £37k and to continue building reserves to enable redevelopment of the Colville House site.

Reserves policy
Reserves are held in order to provide adequate funds to maintain the housing stock in good repair, to fund future developments and to continue to provide housing and support to residents in the event of a disruption in revenue. In addition to the investments, the Charity held cash reserves of £145k as at 31 March 2024 giving a total reserve of £1,726k, all of which were unrestricted funds. This more than meets the expectation of at least three months' operating costs being available to deal with the consequences of unanticipated challenges.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing document, the Memorandum and Articles of Association, and constitutes a company, limited by guarantee, as defined by the Companies Act 2006.

The charity is governed by a Board of Trustees, up to a maximum of fourteen, (the Board may also co-opt members up to a third of its total membership). The Board currently meets every two months and has a quorum of three. All of the trustees sit on at least one sub-committee, of which there are currently five. These sub-committees have their own governance structure and decision-making powers and meet as often as required to deal with the business of the day. They report formally at each Board meeting.

The Board has due regard at all times to the Charity Commission's guidance in the exercise of its powers and duties. On appointment, new members of the Board receive an induction pack, and have access to a copy of the Almshouse Association's Standard of Almshouse Management. Board members have also attended seminars and briefings in areas such as housing, charity law, and the responsibilities of Trustees.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09642400 (England and Wales)

Registered Charity number
1166703

Registered office
155-167 Stockwell Park Road
London
SW9 0TL


THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024

Trustees
F D Stonehill (Chair)
C J E Woollcombe Gambrill (Kate)
S Faulkner (resigned 4.8.23)
S Malhotra
R Johnson
L Tomlinson
E J Lindsay
R Kennedy
J Walker (appointed 4.12.23)
S R Forda (appointed 4.12.23)

President
H Bowes-Lyon C.V.O.

Vice Presidents
H Parsons
C Shuster

Clerk to the Trustees
R de Grey (to September 2023)
E Fleming (from May 2024)

Senior Support Manager
R Marr

Independent Examiner
Christopher Joyce FCCA
Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

Bankers
The Royal Bank of Scotland
62-63 Threadneedle Street
London
EC2R 8LA

Solicitors
Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A 3LH


THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024


REFERENCE AND ADMINISTRATIVE DETAILS
Investment advisers
Rathbones Investment Management
Fiennes House
32 Southgate Street
Winchester
Hampshire
SO23 9EH

Approved by order of the board of trustees on 25 November 2024 and signed on its behalf by:





F D Stonehill (Chair) - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE FRIENDLY ALMSHOUSES

Independent examiner's report to the trustees of The Friendly Almshouses ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.








Christopher Joyce FCCA

Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

25 November 2024

THE FRIENDLY ALMSHOUSES

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 105 - 105 1,107

Charitable activities
Provision of Housing 333,618 - 333,618 371,829

Investment income 3 6,145 - 6,145 1,012
Other income 4 5,000 - 5,000 3,323
Total 344,868 - 344,868 377,271

EXPENDITURE ON
Charitable activities
Provision of Housing 226,354 - 226,354 241,275

Net gains/(losses) on investments 23,543 - 23,543 (1,945 )

NET INCOME 142,057 - 142,057 134,051


RECONCILIATION OF FUNDS
Total funds brought forward 1,583,672 - 1,583,672 1,449,621

TOTAL FUNDS CARRIED FORWARD 1,725,729 - 1,725,729 1,583,672

THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

BALANCE SHEET
31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1,111,181 - 1,111,181 1,123,966
Investments 9 518,797 - 518,797 192,529
1,629,978 - 1,629,978 1,316,495

CURRENT ASSETS
Debtors 10 12,514 - 12,514 13,432
Investments 11 611 - 611 582
Prepayments and accrued income 2,888 - 2,888 1,137
Cash at bank and in hand 145,011 - 145,011 326,996
161,024 - 161,024 342,147

CREDITORS
Amounts falling due within one year 12 (33,773 ) - (33,773 ) (38,220 )

NET CURRENT ASSETS 127,251 - 127,251 303,927

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,757,229

-

1,757,229

1,620,422

CREDITORS
Amounts falling due after more than one
year

13

(31,500

)

-

(31,500

)

(36,750

)

NET ASSETS 1,725,729 - 1,725,729 1,583,672
FUNDS 15
Unrestricted funds 1,725,729 1,583,672
TOTAL FUNDS 1,725,729 1,583,672

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.



THE FRIENDLY ALMSHOUSES (REGISTERED NUMBER: 09642400)

BALANCE SHEET - continued
31 MARCH 2024

The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 25 November 2024 and were signed on its behalf by:





F D Stonehill (Chair) - Trustee

THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, 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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. 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.

Allocation and apportionment of costs
All support and governance costs relate to the activity of providing housing in accordance with the objectives of the charity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - Straight line over 50 years
Equipment and fittings - Straight line over 3 and 10 years

Social investments
The cost of the freehold property is accounted for within tangible fixed assets as it is a programme related investment held specifically to contribute to the charity's charitable purpose.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.


THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Fund accounting
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.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES
2024 2023
£    £   
Donations 105 1,107

3. INVESTMENT INCOME
2024 2023
£    £   
Other fixed asset invest - FII 2,844 10
Deposit account interest 3,301 1,002
6,145 1,012

4. OTHER INCOME
2024 2023
£    £   
Employment allowance 5,000 3,323

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Independent Examiner/Auditor remuneration 1,980 1,800
Depreciation - owned assets 12,785 12,785


THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.


7. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023
Charitable activities 1 1
Support costs 2 1
3 2

No employees received emoluments in excess of £60,000.

8. TANGIBLE FIXED ASSETS
Equipment
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023 and 31 March 2024 1,017,319 133,433 1,150,752
DEPRECIATION
At 1 April 2023 - 26,786 26,786
Charge for year - 12,785 12,785
At 31 March 2024 - 39,571 39,571
NET BOOK VALUE
At 31 March 2024 1,017,319 93,862 1,111,181
At 31 March 2023 1,017,319 106,647 1,123,966


THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. FIXED ASSET INVESTMENTS
Listed
investments Cash Totals
£    £    £   
MARKET VALUE
At 1 April 2023 192,529 - 192,529
Additions 301,954 302,845 604,799
Disposals - (302,074 ) (302,074 )
Revaluations 23,543 - 23,543
At 31 March 2024 518,026 771 518,797
NET BOOK VALUE
At 31 March 2024 518,026 771 518,797
At 31 March 2023 192,529 - 192,529

There were no investment assets outside the UK.


Fixed asset investments are shown at market value at the balance sheet date.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,496 12,241
Other debtors 5,018 1,191
12,514 13,432

11. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
COIF Deposit Funds 611 582


THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 14) 5,250 5,250
Trade creditors 21,115 20,699
Other creditors 237 6,807
Accrued expenses 7,171 5,464
33,773 38,220

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans (see note 14) 31,500 36,750

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year on demand:
Almshouse Association loan 5,250 5,250
Amounts falling between one and two years:
Almshouse Association loan 5,250 5,250
Amounts falling due between two and five years:
Almshouse Association loan 15,750 15,750
Amounts falling due in more than five years:

Repayable by instalments:
Almshouse Association loan 10,500 15,750

15. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£    £    £   
Unrestricted funds
General fund 1,583,672 142,057 1,725,729

TOTAL FUNDS 1,583,672 142,057 1,725,729

THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 344,868 (226,354 ) 23,543 142,057

TOTAL FUNDS 344,868 (226,354 ) 23,543 142,057


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 1,399,621 134,051 50,000 1,583,672

Restricted funds
Improvements to the Almshouses 50,000 - (50,000 ) -

TOTAL FUNDS 1,449,621 134,051 - 1,583,672

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 377,271 (241,275 ) (1,945 ) 134,051

TOTAL FUNDS 377,271 (241,275 ) (1,945 ) 134,051

The Improvement to the Almshouses Fund represents money received to be used for the replacement of windows and the build of a garden room at the Almshouses.


THE FRIENDLY ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

17. ULTIMATE CONTROLLING PARTY

The Charity was controlled throughout the year by its members.