Charity number: 1046580 

The Betty Shelvey Trust 

Trustees’ report and financial statements for the year ended 31 December 2023 



The Betty Shelvey Trust 

## Contents 

||Page|
|---|---|
|Reference and administrative details ofthe Charity, its Trustees and Advisers|1|
|Trustees’ report|2-4|
|Independent examiner's report|5|
|Statement of financial activities|6|
|Balance sheet|7|
|Notestothefinancialstatements|8-17|





The Betty Shelvey Trust 

Reference and administrative details of the Charity, its Trustees and Advisers for the year ended 31 December 2023 

## Trustees 

M Griffiths N Bowles J Griffiths 

. 

## Charity registered number 

1046580 

## Principal office 

The Betty Shelvey Trust Williamson & Barnes 12-14 Queen Street Deal , Kent CT14 6EU 

## Independent Examiners 

M KR Dyer ACA MAAT Kreston Reeves LLP 37 St Margaret's Street Canterbury Kent CT12TU 

## Accountants 

) 

Kreston Reeves LLP 37 St Margaret's Street Canterbury Kent CT12TU 

## Bankers 

National Westminster Bank 31 High Street Deal Kent CT14 6EW 

; 

. 

Page 1 



The Betty Shelvey Trust 

## Trustees’ report 

## for the year ended 31 December 2023 

The Trustees present their annual report together with the financial statements of the Charity for the year from 1 January 2023 to 31 December 2023. 

## Objectives and activities 

## a. Policies and objectives 

The Charity's objective and its principal activity is to provide dwellings for occupation by needy persons who are elderly or physically disabled, on terms appropriate to their needs, preference being given to married couples resident, at the time of appointment or previously, in the District of Dover, and more particularly in the former Borough of Deal (including Walmer) and the parishes of Shoiden and Ringwould (including Kingsdown). 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)'. 

## Achievements and performance 

## a. Review of activities 

The Trustees are pleased to report that no vacancies have arisen this year and all flats are currently occupied. 

## b. Investment policy and performance 

The Trustees have the power to invest Trust money as they in their absolute discretion think fit. Details of the investments held are set out in note 8. | 

## Financial review 

## a. Going concern 

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 

## b. Reserves policy 

The Trust does not have a formal reserves policy. However the sums recommended by the Almshouses Association are deposited in the ERF and the CMF each year. The Trustees’ policy is to draw on these funds only for major projects as they are conscious that the majority of the Trust's income comes from the residents’ weekly contributions with a small amount coming from investments held with COIF. In this way they hope to minimise the impact of any major work required to the flats. 

The Trust also maintains a number of designated funds held for numerous purposes described in note 12 of the accounts. 

At the period end, there was a balance in the General Fund of £36,505 (2022 - £46,406), in the Cyclical Maintanece Fund there was a balance of £164,079 (2022 - £147,577), in the General Reserves Fund there was a balance of £87,130 (2022 - £77,429) and in the Extraordinary Repair Fund the was a balance of £269,129 (2022 - £233,567). 

Page 2 



## ‘The Betty Shelvey Trust 

## Trustees’ report (continued) 

for the year ended 31 December 2023 

## c. Financial Performance 

The outstanding £6,500 for the renovations to Flat 4 was paid in January 2023. The Trustees felt that this sum could be covered from the bank account and there was no need to withdraw funds from the CMF. 

Stairlifts were installed in four of the first floor flats (the fifth flat already had a stairlift) in July. 

Smart meters were installed by EDF at no cost to the Trust in five of the flats. Pressure will be brought to bear on EDF to complete the installation on the remaining five flats before the end of March 2024. 

During the year ended 31 December 2023, the Trust received income of £69,331 (2022 - £57,758) and had expenditure of £59,590 (2022 - £68,727) with the redution in renovation costs explaining the decrease in expenditure for the year. 

## Structure, governance and management 

## a. Constitution 

. 

The Betty Shelvey Trust is a registered charity, number 1046580, and is constituted under a Trust deed. The ‘Betty Shelvey Trust was established by a Declaration of Trust dated 16 December 1994, by the Executors of the Will of Mrs Betty Howard Lushington Shelvey, formerly of Deal, who died on 21 August 1992. 

## b. Methods of appointment or election of Trustees 

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. , cv . 

## c. Risk management 

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. 

## Pians for future periods 

There are currently no further major works planned. However, the Trustees are committed to maintaining a good standard of accommodation for the residents and the overall condition of the flats will continue to be monitored to ensure that any work required to achieve this aim will be undertaken. 

Page 3 



The Betty Shelvey Trust 

## Trustees’ report (continued) 

for the year ended 31 December 2023 

## Statement of Trustees’ responsibilities 

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its income and _ application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: 

- e select suitable accounting policies and then apply them consistently; « observe the methods and principles of the Charities SORP (FRS 102); e make judgements and accounting estimates that are reasonable and prudent; e state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; 

- . prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the members of the board of Trustees and signed on their behalf by: 


**----- Start of picture text -----**<br>
M Griffiths eee => N Bowles<br>Trustee Trustee<br>Date: 6 September 2024<br>**----- End of picture text -----**<br>


" 

Page 4 



The Betty Shelvey Trust 

, 

## Independent examiner's report 

for the year ended 31 December 2023 

## Independent examiner's report to the Trustees of The Betty Shelvey Trust (‘the Charity’) 

. 

| report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023. 

## Responsibilities and basis of report 

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act). 

| report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## Independent examiner's statement 

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. 

| understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. 

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

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 

2. the accounts do not accord with those records; or 3. the accounts do not comply with 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. 

| 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. 

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the Charity's Trustees those. matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed: AANL Dated: GR Ocbokeey fof MKRDyer — bexter ren 2 AcAMAAT — 

> Kreston Reeves LLP 

37 St Margaret's Street Canterbury Kent: CT12TU 

Page 5 



## The Betty Shelvey Trust 

## Statement of financial activities 

## for the year ended 31 December 2023 

|||Unrestricted|Total||Total|
|---|---|---|---|---|---|
|||funds|funds||funds|
|||2023|2023||2022|
||Note|£|£||£|
|Income from:||||||
|Charitable activities|4|62,299|62,299||56,277|
|Investments|5|6,462|6,462||1,481|
|Other income||570|570||-|
|Total income||69,331|69,331||57,758|
|Expenditure on:||||||
|Charitable activities|6|56,590|56,590||68,727|
|Total expenditure||56,590|56,590||68,727|
|Net income/(expenditure) before net gains/(losses)||||||
|on investments||12,741|12,741||(10,969)|
|Net gains/(losses) on investments||39,123|39,123||(30,241)|
|Net movement in funds||51,864|51,864||(41,210)|
|Reconciliation of funds:||||||
|Total funds brought forward||504,979|504,979||546,189|
|Net movement in funds||§1,864|51,864||(41,210)|
|Totalfundscarriedforward||556,843|556,843||504,979|



The Statement of financial activities includes all gains and losses recognised in the year. 

The notes on pages 8 to 17 form part of these financial statements. 

Page 6 



The Betty Shelvey Trust 

## Balance sheet 

as at 31 December 2023 


**----- Start of picture text -----**<br>
2023 : 2022<br>Note £ £<br>Fixed assets<br>investments 9 356,259 | 310,996 ©<br>Current assets<br>Debtors 10° 1,318 1,201<br>Cash at bank and in hand 201,962 196,302<br>203,280 197,503<br>Creditors: amounts falling due within one<br>year 11 _ [(2,696)] . (3,520)<br>Net current assets 200,584 193,983<br>Total net assets 556,843 504,979<br>Charity funds<br>Unrestricted funds 12 556,843 504,979<br>Total funds 556,843 504,979<br>**----- End of picture text -----**<br>


The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 


**----- Start of picture text -----**<br>
Z Ss<br>TrusteeM Griffiths eeLa—— TrusteeNBowles “~~rtd”<br>**----- End of picture text -----**<br>


Date: 6 September 2024 

The notes on pages 8 to 17 form part of these financial statements. 

; 

Dana 7 



The Betty Shelvey Trust 

## Notes to the financial statements 

for the year ended 31 December 2023 

1. General information 

The Charity is an unincorporated charity, incorporated in England and Wales, with the charity number 1046580. The Charity's objective and its principal activity is to provide dwellings for occupation by needy persons who are elderly or physically disabled, on terms appropriate to their needs, preference being given to married couples resident, at the time of appointment or previously, in the District of Dover, and more particularly in the former Borough of Deal (including Walmer) and the parishes of Sholden and Ringwould (including Kingsdown). The Charity's registered office is The Betty Shelvey Trust, Williamson & Barnes, 12-14 Queen Street, Deal, Kent, CT14 6EU. 

## 2. Accounting policies 

## 2.1 Basis of preparation of financial statements 

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

The financial statements have been prepared to give a ‘true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 

The Betty Shelvey Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

The financial statements are presented in UK sterling, which is the Charity's functional currency,and rounded to the nearest pound. 

## 2.2 Going concern 

: 

The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 


**----- Start of picture text -----**<br>
,<br>**----- End of picture text -----**<br>


- 2.3 Income 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Page 8 



## The Betty Shelvey Trust 

## Notes to the financial statements 

for the year ended 31 December 2023 

## 2. Accounting policies (continued) 

## 2.4 Expenditure 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

All expenditure is inclusive of irrecoverable VAT. 

## 2.5 Interest receivable 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## 2.6 Taxation 

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value ~ cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. 

## 2.7 Investments 

## 2.8 Debtors 

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. 

- 2.9 Cash at bank and in hand 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 


**----- Start of picture text -----**<br>
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## 2.10 Liabilities and provisions 

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. Page 9 



## The Betty Shelvey Trust 

Notes to the financial statements for the year ended 31 December 2023 

## 2. Accounting policies (continued) 

## 2.11 Financial instruments 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## 2.12 Fund accounting 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been. set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

## 3. Critical accounting estimates and areas of judgement 

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## Critical accounting estimates and assumptions: 

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Charity does not currently have any significant accounting estimates or areas of judgement. 

## 4, income from charitable activities 

||Unrestricted|Total|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2022|
||£|£|£|
|Residents Contribution|62,299|62,299|56,277|
|Total2022|56,277|56,277||



Page 10 



The Betty Shelvey Trust 

Notes to the financial statements for the year ended 31 December 2023 

## 5. Investment income 

|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
|||£|£|£|
|Investment income||6,462|6,462|1,481|
|Total 2022||1,481|1,481||
|Analysis ofexpenditure by activities|||||
||Activities<br>undertaken<br>directly|Support<br>costs|Total<br>funds|Total<br>funds|
||2023|2023|2023|2022|
||£|£|£|£|
|Charitable activities|55,254|1,336|56,590|68,727|
|Total 2022|67,467|1,260|68,727||
|Analysis ofdirect costs|||||
|||Charitable|Total|Total|
|||activities|funds|funds|
|||2023|2023|2022|
|||£|£|£|
|Staff costs||5,998|5,998|6,000|
|Telephone||2,628|2,628|2,132|
|Electricity||17,002|17,002|20,767|
|Water&sewage charges||4,229|4,229|1,478|
|SDC Lifeline||4,862|1,862|1,862|
|Insurance of property||2,519|2,519|2,372|
|Garden expenses||2,560|2,560|2,220|
|Repairs & improvements||18,117|18,117|29,803|
|Almshouses subscription||225|225|225|
|Bank charges||-|-|67|
|Sundryexpenses||114|114|541|
|||55,254|55,254|67,467|
|Total2022||67,467|67,467||



## 6. Analysis of expenditure by activities 

| 

Page 11 



The Betty Shelvey Trust 

## Notes to the financial statements 

for the year ended 31 December 2023 

## 6. Analysis of expenditure by activities (continued) 

## Analysis of support costs 

||Charitable<br>activities|Total<br>funds|Total<br>funds|
|---|---|---|---|
||2023|2023|2022|
||£|£|£|
|Independent examiner's fees|1,336|1,336|1,260|
|Total2022|1,260|1,260||



## 7. Trustees’ remuneration and expenses 

During the year, no Trustees received any remuneration or other benefits (2022 - ENIL). 

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - ENIL). 

## 8. Staff costs 

||||2023|2022|
|---|---|---|---|---|
||||£|£|
|Wages|and|salaries|5,998|6,000|
||||5,998|6,000|



The average number of persons employed by the Charity during the year was as follows: 

|2023|2022|
|---|---|
|No.|No.|
|1|1|



No employee received remuneration amounting to more than £60,000 in either year. 

The only individuals considered to be key management personnel are the Trustees, whom receive no remuneration for the services they provide (2022 - ENil). 

Page 12 



The Betty Shelvey Trust 

## Notes to the financial statements 

for the year ended 31 December 2023 

## 9. Fixed asset investments 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Listed|
|investments|
|£|
|Cost|or valuation|
|At|1|January 2023|310,996|
|Additions|6,140|
|Revaluations|39,123|
|At|31|December 2023|356,259|
|Net|book|value|
|At|31|December 2023|356,259|
|At|31|December|2022|310,996|
|Investments|at|market|value|comprise:|
|2023|2022|©|
|£|£|
|Listed|investments|,|356,259|310,996|
|All|the|fixed|asset|investments|are|held|in|the|UK.|

**----- End of picture text -----**<br>


## Material investments 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|COIF|Charities|Investment|Fund Accumulation|Units|- GRF|87,130|77,429|
|COIF|Charities|Investment|Fund|Accumulation|Units|-|ERF|269,129|233,567|
|356,259|310,996|

**----- End of picture text -----**<br>


## 10. Debtors 


**----- Start of picture text -----**<br>
|||||
|---|---|---|---|
|Due|within|one|year|
|Prepayments|and|accrued|income|

**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
|||
|---|---|
|2023|2022|
|£|£|
|1,318|1,201|

**----- End of picture text -----**<br>


Page 13 



## The Betty Shelvey Trust 

## Notes to the financial statements for the year ended 31 December 2023 

## 41. Creditors: Amounts falling due within one year 

||2023|2022|
|---|---|---|
||£|£|
|Accruals|2,696|3,520|



## 12. Statement of funds 

## Statement of funds - current year 

|||||||Balance at|
|---|---|---|---|---|---|---|
|Balance at 1||||||31|
||January<br>2023|Income|Expenditure|Transfers<br>in/out|Gains/<br>(Losses)|December<br>2023|
||£|£|£|£|£|£|
|Unrestricted|||||||
|funds|||||||
|Designated|||||||
|funds|||||||
|Cyclical|||||||
|Maintenance|||||||
|Fund|147,577|-|-|16,502|-|164,079|
|General|||||||
|Reserves Fund|77,429|-|-|-|9,701|87,130|
|Extraordinary|||||||
|Repair Fund|233,567|-|-|6,140|29,422|269,129|
||458,573|-|-|22,642|39,123|520,338|
|_|||||||
|General funds|||||||
|General Funds.|46,406|69,331|(56,590)|(22,642)|-|36,505|
|Total|||||||
|Unrestricted|||||||
|funds|504,979|69,331|(56,590)|-|39,123|556,843|



During the year ended 31 December 2023, £6,140 was transfered from the General Fund to the Extraordinary Repair Fund in order to facilitate the purchase of a new group of shares. Along with £16,502 being transferred from the General Fund to the Cyclical Maintanence Fund to bring the balance of the fund in line with the balance of the Deposit bank account, this was made up of £6,462 interest received and £10,040 to agree the closing value. 

Page 14 



The Betty Shelvey Trust 

Notes to the financial statements __- 

for the year ended 31 December 2023 

, 

12. Statement of funds (continued) 

Statement of funds - prior year 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at|||||31|
|||1 January|||Transfers|Gains/|December|
|||2022|Income|Expenditure|in/out|(Losses)|2022|
|||EO|£|£|£|£|£|
|Unrestricted||||||||
|funds||||||||
|Designated||||||||
|funds||||||||
|Cyclical||||||||
|Maintenance||||||||
|Fund||140,272|-|-|7,305|-|147,577|
|General||||||||
|Reserves Fund.||85,083|-|-|-|(7,654)|77,429|
|Extraordinary||||||||
|Repair|Fund|250,664|-|-|5,490|(22,587)|233,567|
|||476,019|-|-|12,795|(30,241)|458,573|
|General|funds|||||||
|General|Funds|70,170|57,758|(68,727)|(12,795)|-|46,406|
||—|||||||
|Total||||||||
|Unrestricted||||||||
|funds||546,189|57,758|(68,727)|-|(30,241)|504,979|



Page 15 



The Betty Shelvey Trust 

## Notes to the financial statements 

for the year ended 31 December 2023 

## 13. Summary of funds 

## Summary of funds - current year 

||||||||Balance at||
|---|---|---|---|---|---|---|---|---|
||Balance at 1||||||31||
||January<br>2023|Income||Expenditure|Transfers<br>in/out|Gains/<br>(Losses)|December<br>2023||
||£|£||£|£|£|£||
|Designated|||||||||
|funds|458,573|-||-|22,642|39,123|520,338||
|General funds|46,406|69,331||(56,590)|(22,642)|-|36,505||
||504,979|69,331||(56,590)|-|39,123|556,843||
|Summary offunds- prioryear|||||||||
|||||||||||
||||||||Balance at||
||Balance at||||||31||
||1 January||||Transfers|Gains/|December|||
||2022|Income||Expenditure|in/out|(Losses)|2022||
||£|£||£|£|£|£||
|||||||||||
|Designated|||||||||
|funds|476,019|-||-|12,795|(30,241)|458,573||
|General funds|70,170|57,758||(68,727)|(12,795)|-|46,406||
||546,189|57,758||(68,727)|-|(30,241)|504,979||



## Designated Funds 

Cyclical Maintenance Fund - The Trust maintains a reserve fund for the purpose of providing for the ordinary maintenance and repair of the properties, this is added to each year in line with the recommendations made in the Almshouses Association Specimen Outline Budget. These funds are held in a deposit account. 

General Reserves Fund - The Trust maintains a further fund to supplement the Extraordinary repair fund. These funds are held as COIF Charities Investment Fund Accumulation units. 

Extraordinary Repair Fund - The Trust maintains a reserve fund for the purpose of providing for the extraordinary repair and improvement of the properties. These funds are held as COIF Charities Investment Fund Accumulation units. 

Page 16 



The Betty Shelvey Trust 

## Notes to the financial statements for the year ended 31 December 2023 

## 14. Analysis of net assets between funds — 

## Analysis of net assets between funds - current year 

||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2023|2023|
||£|£|
|Fixed asset investments|356,259|356,259|
|Current assets|203,280|203,280|
|Creditors due within one year|(2,696)|(2,696)|
|Total|556,843|556,843|



## Analysis of net assets between funds- prior year 

|Analysis of net assets between funds-- prior yearyear|||||
|---|---|---|---|---|
||Unrestricted||Total||
|||funds|funds||
|||2022|2022||
||:|£|£||
|Fixed asset investments||310,996|310,996||
|Current assets||197,503|197,503||
|Creditors due within one year||(3,520)|(3,520)||
|Total||504,979|504,979|||



## Total 

## 15. Related party transactions 

The Charity has not entered into any transactions with related parties during the financial year (2022 - £Nil) and at the Balance Sheet date there are no amounts outstanding with them (2022 - ENil). 

, 

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