mailes Goldie CHAR TERED ACCOUNT ANTS R B Massey Memorial Trust Unaudited Financial Statements 31 August 2024 Stm)218351-6 Ildlj ICAEW CHARTÉRED ACCOUNTANTS
R B Massey Memorial Trust Contents of the Financial Statements for the year anded 31st August 2024 Page Report of the Trustees 1 to 2 Independent Examiner's Report Ststsment of Flnanclal Actlvltles Balance Sheet Notes to the Financlal Statements 6 to 13
R B Massey Memorial Trust Report of the Trustees for the year ended 31st August 2024 The trustees present their report with the financial statements of the charity for the year ended 31st August 2024. The trustee5 have adopted the provisions of Accounting and Reporting by Chanties". Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Robert B Massey Memorial Trust was established by Trust Deed dated 1 August 1990. Its purpose is to provide, in the interests of social welfare and the improvement of the conditions of lrfe for the inhabitants of the Town of Market Weighton in the County of East Yorkshire and its neighbourhood, a public recreation ground and other recreational facilities including a Bowling Green. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. Recruitment and appointment of new trustees Management Committee: M Dykes E Keithley J Phillips A Brooks D Smith R Barnes C B8rnes All Trustees meet at least three times a year and collectively have the power to appoint new Trustees. The Charity receives administration and legal services from Stamp Jackson & Procler Limrted and one of the Trustees, ACT Procter, is a consuliant in that firm. The Management Committee has continued to upkeep the recreational facilities provided by the Trust at the Pavilion and Bowling Green, which have been widely used by the public in the Market Weighton area. Flnanclal Revlew The recreational facilities provided by the Trust continue to be self-supporting. The financial position of the Trust continues to be sound, as detailed on page 5. Of the total funds, £4,121,787 (2023 £3,806,197) is represented by fixed assets and investments, both of which provide an essential contribution to the Charity's wellbeing. Rlsk management The Trustees examine the major risks that the Charity faces each year. The Charty has developed systems to monitor and control these risks to mitigate any impact that they may have on the Charity in the future. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charity number 1001423 Principal address clo A C T Procter Stamp Jackson & Procter Limited 5 Parliament Street Hull East Yorkshire HU12AZ Trustees Mr C W Clubley Mr A C T Procter Miss J E Phillips Mr D L Beadle Mrs J M Henley Page 1
R B Massey Memorial Trust Report of the Trustees forthe year ended 31st August 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Smalles Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA Solicitors Stsmp Jackson & Proctor Limited 5 Parliament Street Hull HU12AZ Advisers Bankers: HSBC plc 17 High Street Market Weighton York Y043 3AE Cater Allen 9 Nelson Street Bradford BD15AN Accountsnts: Johnson & Co Hawihorne House 28 Cowgate Welton HU15 1NB Approved by order of the board of trustees on 4th June 2025 and signed on its behaff by: Mr C W Clubley - stee Page 2
Independent Examiner's Report to the Trustees of R B Massey Memorial Trust Independent examlner's report to the trustees of R B Massey Memorial Trust I report to the charity trustees on my examination of the accounts of R B Massey Memorial Trust (the Trust) for the year ended 31 st August 2024. Responslbllltles 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 SeGtion 145{5>(b) of the Act. Independent examiner's statement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the A¢t,' or the accounts do not accord with those records., or the accounts do not comply wrth 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. S. T. Bramall, Bsc., FCA Smalles Goldie Chartered Accountants Regent's Court Princess Street Hull East Yorkshire HU2 8BA Page 3
R B Massey Memorial Trust Statement of Financial Activities for the year 8nded 31st August 2024 2024 Unrestrlcted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 22,199 30,808 Charitable activities Recreational ground 8,332 8,256 Investment income 139,275 120,232 Total 169,806 159,296 EXPENDITURE ON Raising funds 18,300 17,263 Charitable activitles Support to local groups and individuals Recreational ground 59,565 48,160 69.219 29,019 Support costs Total 177,241 165,905 Net gainsl(losses} on investments 322,614 131,951) NET INCOMEI(EXPENDITURE) 315,179 (138,560) RECONCILIATION OF FUNDS Total funds brought forward 4,165,691 4,304,251 TOTAL FUNDS CARRIED FORWARD 4 480,870 4,165,691 The notes fomi part of these financial statements Page 4
R B Massey Memorial Trust Balance Sheet 31st August 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Tangible assets Investments 344,832 3,776 955 348,C63 3,458 134 4,121.787 3,806,197 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 200 48,902 320,982 200 8,117 361,543 370.084 369,860 CREDITORS Amounts falling due within one year (10,366) NET CURRENT ASSETS 359 083 359,494 TOTAL ASSETS LESS CURRENT LIABILITIES 4,480,870 4,165,691 NET ASSETS 4,480,870 4 165,691 FUNDS Unrestricted funds 4.480 870 4 165691 TOTAL FUNDS 4,480 870 4,165.691 The financial statements were approved by the Board of Trustees and authorised for issue on 4th June 2025 and Vre signed on its behalf by.. Clu Proct - Trustee The notes fomi part of these financial statements Page 5
R B Massey Memorial Trust Notes to the Financial Statements forthe year ended 31st August 2024 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. 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. Expendituro Liabilities are recognised as expenditur8 as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefrts 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. Grants offered subject to condition5 which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Land and buildings Bowling Green Fixtures and fittings 20/0 on reducing balan 5°/0 on reducing balance 10 /0 on reducing balance Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowan for obsolete and slow moving items. Taxatlon 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. Investments Stocks and shares quoted on a recognised stock exchange are included in the balance sheet at their mid-market value at the year end. The variances beeen market value and the original cost or annual revaluation of the investments are shown as unrealised investment gains or losses. The differences beeen the original cost and the proceeds of investments disposed of are shown as again or loss in the statement of financial activity. Page 6 continued.
R B Massey Memorial Trust Notes to the Financial Statements - continued for the year ended 31st August 2024 INVESTMENT INCOME 2024 2023 Rents r1Ved Dividends received Deposit account interest 7,720 122,659 8,896 114,174 6,058 139,275 120,232 SUPFIORT COSTS 2024 2023 Insurance Light and heat Rates and water Accountancy Independent examiners fee Administration fees 6,832 3,660 942 2.352 1,446 36,985 8,297 3,521 1,560 2,184 1,446 35,396 51,216 50,404 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 st August 2024 nor for the year ended 31st August 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31st August 2024 nor for the year ended 31st August 2023. TANGIBLE FIXED ASSETS Fixtures and fittings Land and buildings Bowling Green Totals COST At 1 st September 2023 Additions 444,995 76,872 34,019 2,599 555,886 2,699 At 31st August 2024 76,872 558 485 DEPRECIATION At 1 st September 2023 Charge for year 119,952 4.068 60.958 798 26,913 207,823 5,830 At 31st August 2024 124,020 27.877 213,653 NET BOOK VALUE At 31st August 2024 320,975 15.116 8,741 344.832 At 31st August 2023 325,043 15,914 7.106 348,063 Page 7 continued...
R B Massey Memorial Trust Notes to the Financial Statements - continued for the year ended 31st August 2024 TANGIBLE FIXED ASSETS - continued Included in cost or valuation of land and buildings is freehold land of £121,653 (2023 - £121,653) which is not depreciated. Land comprises 1.63 acres of land at B8verley Road, Market Weighton, East Yorkshire containing the pavilion and bowling green, 5.058 hectares of land south of Beverley Road, Market Weighton and 1.18 hectares of land north of the A1079, Market Weighton. FIXED ASSET INVESTMENTS 2024 20223 Market value at 1 Septembér 2023 Additions Disp05als Change in Markel Value 3,458,137 469,611 1282,442) 131649 3,512,079 359,833 {319.586) 94 1891 Market value at 31 August 2024 3 776 955 3,458,137 Historical cost at 31 August 2024 2,908 571 2,681,158 Analysis of investments UK Equities UK Government Stock 3,393,073 383 882 3,366,382 145 697 3,776,955 3,512,079 Individual invastments &xceeding 50/0 of the portfolio were as follows.. 2024 2023 Alliance Trust Legal & Gèneral US Index Trust Shell 214,920 317,672 200,646 187,920 264,610 180,477 Net (gain) l Loss on investments 2024 2023 Sale proceeds Cost of investments sold 473,407 282,4421 281,823 319,587) (Profitll Loss on sale of investments sold (Increase)IDecrease in value of portfolio in the year 190,965 131649 {37,762) Net (gain)Iloss on investments 322,614 (131,951) Page 8 continued...
R B Massey Memorial Trust Notes to the Financial Statements - continued for the year ended 31st August 2024 FIXED ASSET INVESTMENTS - contlnued STOCKS 2024 2023 stocks 200 200 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments 48,902 8,117 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 11,001 10.366 10. RELATED PARTY DISCLOSURES During the year the Charity received administration and legal services from Stamp Jackson & Procter Limited, in which ACT Procter is a consultant. The cost of these services amounted to £60,945 for the year ended 31 August 2024 {2023 £35,396). Page 9 continued...
R B Massey Memorial Trust Notes to the Financial Statements - continued for th8 year ended 31st August 2024 11. INCOME AND EXPENDITURE OF THE MANAGEMENT COMMITTEE 2024 2023 Income Bowling fees - indoor outdoor League and competition fees Refreshments Book Stall Raffle Badges and sportswear Hire of hall Donation5 (Note 12) Bank interest received Closing stock 2,567 2,489 1,445 1,138 775 30 27 130 2,222 30,810 49 200 998 62 317 1.770 22,200 208 200 30,939 39,315 Expendlture League and competition fees Green upkeep Refreshments Insurance Light and heat Rates and water Bank charges Resurfacing the car park Replacement radiators 8uilding & Light repairs Refurbishment of pavilion kitchen Repairs and renewals Replacement ditch mats Accountancy Badges and sportswear Depreciation of fixture and fittings Depreciation of power mower Opening stock 981 1.773 247 6.832 3,660 942 109 974 1,056 165 6,297 3,521 1,560 99 12,239 1,961 2.904 13,405 1,356 2,153 540 166 389 205 200 1,016 516 191 144 228 50 32,921 Excess l(Deficit) of income expenditure over expenditure 6.394 Page 10 continued...
R B Massey Memorial Trust Notes to the Financial Statements - continued for the year ended 31st August 2024 12. DONATIONS Bills paid directly by the general committee 2024 2023 Rates Commercial waste Insuran Hedge cutting Refurbishment of pavilion kitchen Resurfacing the car park Replacement radiators Building & light repairs 72 131 6032 760 13,405 71 115 6,297 12,239 1,961 2,904 21,200 23,587 Other Donatlons Donations to the Bowls Club Donation from the General Committee 1,000 40 7,183 Total Donations per the accounts 13. GENERAL INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR 2024 2023 Income Bank interest Investment income Rent Profiu (Loss) on sale of investments 8,687 122,659 7.720 190,961 6,009 114,174 37,782) 330,027 82,421 Administration fees JM Finn fees Crest sponsorship membership charge LEI renewal Donations Fees re rent Accountancy Bursary & Apprentice scheme Repairs Depreciation of aerator Depreciation of heaters Depreciation of millennium lecturn Depreciation of community hall fixtures Depreciation of bowling green Depreciation of pavilion Depreciation of community hall 60,945 17,367 758 174 48,160 1,020 3,258 33,000 35,396 17,413 758 52.606 3,114 18.328 156 20 229 18 206 81 72 796 1,440 2,628 80 838 1,489 2,682 169,923 133 179 Excess of income over expenditure 160,104 50,758) Page11 continued...
R B Massey Memorial Trust Notes to the Financial Statements - continued for the year ended 31st August 2024 14. INVESTMENTS Market Value Number Cost Ordinary shares and unit trusts 31 Infrastructure Alliance Trust Astra Zeneca Bankers Investment Trust British American Tabacco Bluefield Solar Income BP Britvic Carillion City of London Investment Trust Cran5wick Diageo Ecclestiastical Insurance 8.625 /0 prefs General Accident 8 7181kl prefs Greencoat UK Wind HICL Infrastructure Imperial Brands JPM Global Growth & Income L&G US Index Legal & General Lloyds Banking Group 9.250A prefs National Grid Personal Assets Trust Reckitt Benckiser RELX Rio Tinto Scottish American Inv8Stment Trust Smith & Nephew Shell SSE Stewart Asia Pacific TR Property Unilever 35,000 18,000 600 145,000 2,130 35,000 11,000 8,000 15,000 24,000 2,000 4,500 75,000 35,000 35.000 67,900 2.150 33,000 36,900 25,000 70,000 7,828 37,000 1,890 3,300 1,120 32,000 2,750 7,484 4,900 4,050.26 20,000 3,100 104,589 137,081 44,507 146,566 60.286 41,321 65,134 63,404 49,623 99.008 64.284 80,623 99,790 51,546 51,604 118,013 46,309 160,879 65,960 72,495 98,237 70,146 128,664 75,213 16,686 15,769 151,775 43,628 115,130 74,852 17,330 67,750 53,656 119,700 214,920 79,644 163,850 60,407 37,240 47,234 102.000 105,120 96,400 111,263 102,375 49,525 49,595 85,690 46,870 182,490 317,672 55,950 102,935 78,170 179.635 82,517 116,787 53,424 163,520 32,189 200,646 92,463 43,756 67,000 152,086 Govornment stock 2.00/0 IL Treasury Stock 2035 0.1250/0 IL Treasury Stock 2028 0.25% IL Treasury Stock 2025 54,000 115,000 150,000 119,394 99,977 134.401 101,821 2,908,571 3 776,956 Page 12 continued...
R B Massey Memorial Trust Notes to the Financial Statements - continued for the year ended 31st August 2024 15. CASH AT BANK 2024 2023 HSBC - Enterprise account HSBC - Deposit account HSBC - Treasurer account Cater Allen Stsmp Jackson & Proctor Limited - Client account JM Finn - deposit account Cash in hand 1.084 6.710 1N23 75,170 203,328 33,245 22 1.064 10,926 1,220 44,164 253,968 50,171 320.982 361,543 Page 13