Taylor Newton and Hibbert Charity Trust Annual Report and Financial Statements Year Ended 31st December 2023 Charity Number.. 1061643
Taylor Newton and Hlbbert Charity Trust Annual Report and Financlal Statements Year ended 31st December 2023 Contents Page Reference and administrative details Trustees, annual report Trustee's responsibilities statement Independent eaxminer's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements
Taylor Newton and Hlbbert CharityTrust Reference and administrative detalls Year ended 31st December 2023 Registered charity name Taylor Newton and Hibbert Charity Trust Charlty registration number 1061643 Principle office IA Priory Crescent Grange over Sands Cumbria LAII 7BL The trustees G. A. Brierley {Chairl M. A. E. T. Clitheroe {Treasurer) J. E. Brierley Rev, G. T. Wilson L. Mcclure Accountants CWR Chartered Accountants 20 Mannin Way Lancaster Business Park Caton Road Lancaster LAI 3SW Solicitors Hart Jackson and Sons POBoxNo2 8-10 New Market Street Ulverston LA12 7LW Bankers Barclays Bank PLC PO Box No 25 9 Highgate Kendal LA9 4DF
Taylor Newton and Hlbbert Charity Trust Trustees, annual report Year ended 31st December 2023 Structure• governance and management The Trust was formed on the 1st January 1997 by the amalgamation of the following three charities: Myles Taylor Charity Trust Lawrence Newton Charity Trust Lindale Sick and Poor Fund Charity Number 226341 Charity Number 236650 Charity Number 223139 Under a scheme dated the Ilth December 2002, the assets of the Lindale Institute Charity (Charity Number 2513401 were amalgameted on the 23rd January 2003. There were five trustees at the beginning and end of the reporting period, as follows: G.A. Brierley Co-opted Trustee until 0912028- Chairman M.A.E.T Clitheroe Co-opted Trustee until 12/2027- Treasurer J.E. Brierley Co-opted Trustee by Lindale and Newton in Cartmel PC until 09/2028- Sec L. Mcclure Trustee nominated by Lindale and Newton in Cartmel PC until 0512026 Rev'd G.T. Wilson Ex-officio Trustee, as replacement for Team Rector for the Cartmel Peninsula Team Ministry, which includes the Parish of St Paul, Lindale. The Chairman is elected annually by the Trustees. Mrs G. Brierley was re-elected to be Chairman. Mr J. Brierley acts as Secretary/Correspondent. Mrs A. Clitheroe acts as Treasurer. The trustees managed to meet in person four times during the year. Aims and objectlves This report covers the period from 1st January 2023 to 31st December 2023. It is the twenty seventh annual report of the Charity which was set up by a Scheme sealed by Order of the Charity Commissioners on 23rd October 1996. The objects of the Charity are to apply the income of the Charity in relieving either generally or individually persons resident in the Parish of Lindale and Newton-in-cartmel who are in conditions of need, hardship or distress, by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons. If and insofar as income is not required in any year for this purpose it is applied for such charitable purposes for the general or individual benefit of the inhabitants of the Parish of Lindale and Newton-in- Cartmel as the Trustees sha51 think fit. Appllcation of income Having defrayed the cost of maintaining the Charity properties and of the administration of the Charity, donations were made to local causes. A5SiStance was given to the following local causes for charitiable purposes and for the general benefit of the inhabitants of the area of benefit. Donations to bodies outside the parish but for the potential benefit of parishioners as follows: Rosemere Cancer Foundation, St Mary's Hospice, North West Air Ambulance, Springfield Women's Refuge, Northwest Blood Bikes and Beep Doctors.
Taylor Newton and Hibbert Charlty Trust Trustees, annual report (contlnuedj Year ended 31st December 2023 Management of charlty land and bulldlnEs The Trustees continued to instruct Ulverston Auction Mart Property (rebranded - previously Harri50n Cowardl as agents for letting and managing the land and properties owned by the Charity, the Trustees were consulted regularly. The majority of the grazing land continued to be let on 2-year grazing agreements. One agreement has been drawn up for a piece of land that has been neglected for several years. The agreement is on a peppercorn rent for the first four years whilst the tenant works to bring it back to agricultural condition. Two other agreements were not renewed as the land was being badly farmed. New tenants have been found and agreements drawn up. The rents were negotiated to reflect the work needing to be done to bring the land up to good agricultural conditions. The three letting properties at Skinner Hill were occupied on assured shorthold tenancies during 2023. A number of repairs on the properties were completed during the year. l Myles Taylor Barn has had a new bathroom fitted. Skinner Hill farmhouse had loft insulation and a bedroom wall insulated. Also three new skylights fitted. All of the allotments owned by the Charity were occupied for the year and there is currently a waiting list. All property and land is now registered with the Land Registry and email alerts in place.The ongoing maintenance and upgrading of the properties is a priority and the trustees intend to look to upgrading the kitchens and bathrooms over the next couple of years. Investment5 The development of the Skinner Hill properties, completed by the Trustees in 1996, produced a regular income in 2023 along with rents from land held by the Trust this is used to meet the charity's objectives. Cash is invested in a number of sound financial institutions. The trustees annual report was approved on trustees by: Jolorlz and signed on behalf of the board of G.A. Brierly Chair of trustees
Taylor Newton and Hlbbert CharityTrust Trustees, responslbllltles statement Year ended 31st December 2023 The trustees are responsible for preparing the trustees, report and the financial statements on accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. The law applicable to Charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the method5 and principles in the applicable Charities SORP; make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards 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 applicable Charities {Accounts and Reports) Regulations, 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 a nd other irregularities.
Taylor Newton and Hibbert Charity Trust Independent Examlner's Report to the Trustees of Taylor Newton and Hlbbert Charlty Trust Year ended 31st December 2023 I report to the trustees on my examination of the financial statements of the Taylor Newton and Hibbert Charity Trust I'the charity'l for the year ended 315t December 2023. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accrodance with the requirements of the Charities Act 2011 {'the Act'l. I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515){b) of the Act. Independent examiner's statement I have completed my examination. I confirm 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 charity as required by section 130 of the Act; or the fsnancial statements do not accord with those records,. or the financial statements 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. 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 understandlng of the account5 to be reached. Phillip Dennison ACA FCCA Independent Examiner CWR Chartered Accountants 20 Mannin Way Lancaster Business Park Caton Road Lancaster LAI 35W
Taylor Newton and Hibbert Charity Trust Statement of Financial Activities incorporating Income and Expenditure Account Year ended 31st December 2023 Unrestricted funds Capital funds Total 2023 Total 2022 Note Income and endowments from: Donations Charitable activities Other trading activities Investment income Other income 30 24,648 30 24,648 500 25,054 6,260 6,260 3,644 490 Total Income 30,938 30,938 29,688 Expendlture on: Charitable activities 26,358 26,358 13,745 Total expenditure 26,358 26,358 13,745 Net income/(expenditure) 4,580 4,580 15,943 Transfers between funds li I 1,0001 1,000 Other recognised gains/{losses) Net gain/llossesl on investments 10,914 10,914 15,6291 Net movement in funds 14,494 1,000 15,494 314 Reconclllation of funds Total funds brought forward li 784,475 492,445 1,276,920 1,276,606 Total funds carrled forward 798,969 493,445 1,292,414 1,276,920 The statement of financial activities includes all gains an losses recognised in the year, All income and expenditure derive from continuing activitie5.
Taylor Newton and Hibbert Charity Trust Statement of Financial Position Year ended 31st December 2023 2023 2022 Note Flxed asssets Tangible fixed assets Investments 930,250 129,687 930,250 118,773 1,059,937 1,049,023 Current a55et5 Debtors Cash at bank and in hand 233,569 229,868 233,569 229,868 Credltors: amounts falling due within one year io 1,092 1,971 Net assets 1,292,414 1,276,920 Funds of the charity Unrestricted funds Capital fund 11 li 798,969 493,445 784,475 492,445 Total charity funds 1,292,414 1,276,920 These financial statements were approved by the board of trustees and authorised for issue on ,S.ol Qrlzy and are signed on behalf of the board by: Mrs M, A. E. T. Clitheroe (Trusteel Mrs A Brierley (Trustee) Mr J. E. Brierley ITrustee}
Taylor Newton and Hlbbert Charlty Trust Notes to the Flnanclal Statements Year ended 31st December 2023 l. General Information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principle office is IA Priory Crescent, Grange over Sands, Cumbria, LAII 7BL. 2. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 IFRS 102} (Charities SORP IFRS 1021) and the Charities Act 2011. 3. Accounting policies Basls of preparatlon The financial statements have been prepared on the hlstorical cost basls, as modified by the revaluation of certain financial assetes and liabilities and investments measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern At the time of approving the financial statements, the trustee5 have a reasonable expectation that the charity has adequate resource5 to continue in oprational eistance for the forseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any the charity's purposes. Capital funds are earmarked by the trustees for the refurbishment of Skinner Hill Farmhouse and the development of Skinner Hill Barn and Shippon into two residential units. Incomlng resources All income is included in the statement of financial activities when entitlement has passed to the charity, it 15 probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Investment income consists of income received in the year.
Taylor Newton and Hibbert Charity Trust Note5 to the Financial Statements (contlnued) Year ended 31st December 2023 3. Accounting policies {continuedJ Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the Statement of financial activity to which it relates: expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of it beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. Tangible assets Tangible assets are initially recorded at cost, and the subsequently stated cost less any accumulated depreciation. The land and buildings were valued by Ulverston Auction Mart Property (rebranded - previously Harri50n Coward Valuer and Estate Agents of Ulverstonl on the 25th October 2021. Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at falr value. If falr value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. io
Taylor Newton and Hibbert Charlty Trust Notes to the Financial Statements Icontinuedj Year ended 31st December 2023 4. Charitable activities Unrestricted funds Capital funds Total 2023 Total 2022 Grazing, rents and wayleave 24,648 24,648 25,054 24,648 24,648 25,054 5. Investment income Unrestricted funds Capital funds Total 2023 Total 2022 Bank interest Investment income 2,700 3,560 2,700 3,560 97 3,547 6,260 6,260 3,644 6. Expenditure on charitable activities by fund type Unrestricted funds Capital funds Total 2023 Total 2022 Grants and doles distributed Building insurance Property repairs Property and grazing letting fee5 Trustee expenses Accountancy 5,200 1,667 15,095 3,216 16 1,164 5,200 1,667 15,095 3,216 16 1,164 3,500 1,524 4,325 3,162 22 1,212 26,358 26,358 13,745 6. Independent examinatlon fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements Other financial services 600 564 600 612 1,164 1,212 7. Trustee remuneration and expenses None of the trustees {or any persons connected with them) received any remuneration during the year. One trustee was reimbursed a total of £16 for expenses incurred12022: 1 trustee reimbursed £22). li
Taylor Newton and Hibbert Charity Trust Notes to the Financial Statements fcontlnuedj Year ended 31st December 2023 8. Tangible fixed assets Land and bulldlngs The land and buildings owned by the charity at the 31st December are as follows.. M lesTa lor Chari Trust Skinner Hill Fields:. Lot Number Location Area (Acres) Valuation 1.00 2.00 3.00 4.00 5.00 Hollow Lane Windermere Road Poor Lindale Skinner Hill Paddock Back o, the Fell 3.64 5.40 1.40 0.66 13.07 24.17 25,500 38,000 11,250 7,500 90,000 172,250 Total bl Allotments Field 0.76 4,500 Skinner Hill Farmhouse 325,000 dl Skinner Hill Barn and Shippon 420,000 Formerly Myles Taylor Charity Trust 921,750 Lawrence Newton Charit Trust Blue Cross Fleld Poor Closes Ornamental Ground Formerly Lawrence Newton Charity Trust 1.73 3.00 0.22 4.95 1,500 4,500 2,500 8,500 930,250 The land and property was valued by Ulverston Auction Mart Property (rebranded - previously Harrison Coward Valuer5 and Estate Agents of Ulver5tonl on the 25th October 2021. The previous valuation, carried out on the 24th July 2012 was £715,250. 12
Taylor Newton and Hibbert Charity Trust Notes to the Financial Statements l¢ontlnuedJ Year ended 31st December 2023 9. Investments Investments are all held by The Charities Official Investment Fund. The funds are invested in the COIF Income Shares. Market Value 31112/2023 Market Value 31/1212022 Cost M 5esTa lor Charit Trust 2027 80 2107 Income Shares Income Shares Income Shares at Cost 40,226 1,588 41,814 36,841 1,454 38295 2,027 Lawrence Newton Charit Trust 327 172 499 Income Shares Income Shares Income Shares at Cost 6,489 3,413 9,902 5,943 3,126 9069 3,175 Lindale Sick and Poor Fund 1222 Income Shares at Cost 1,222 24,251 22,210 lor Newton and Hibbert Chari Trust 2707 Income Shares 25,000 53,720 49,199 6535 Income Shares at Cost 31,424 129,687 118,773 The increase in market value of £10,91412022.. decrease1£15,629)l is shown in the Income and Expenditure Account for the year ended 31st December 2023. Financial asesets held at fair value For lisetd investments, valuation is the market value at the reporting date. Listed investments consist of 6,53512022: 6,5351 shares held in the COIF Charities Investment Fund. 10. Creditors: amounts falllng due within one year 2023 2022 Trade creditors 1,092 1,971 1,092 1,971 13
Taylor Newton and Hibbert Charity Trust Notes to the Financial statements (continuedj Year ended 31st December 2023 11. Analysis of charitable funds At 01 Jan 2023 Income Gains and losses At 31 Dec 2023 Expenditure Transfers Unrestricted fund Capital fund 784,475 492,445 30,938 { 26,35811 1,000) 1,000 10,914 798,969 493,445 1,276,920 30,938 1 26,3581 10,914 1,292,414 At 01 Jan 2022 Income Gains and losses At 31 Dec 2022 Expenditure Transfers Unrestricted fund Capital fund 785,161 491,445 29,688 1 13,74511 1,0001 { 15,6291 1,000 784,475 492,445 1,276,606 29,688 { 13,7451 15,6291 1,276,920 Unrestricted funds are available for use at the discretion of the trustees to further any the charity's purposes. Refurbishment of Skinner Hill Farmhouse and the development of Skinner Hill Barn and Shippon into two residential units was financed by authorised borrowing from the capital fund, repayable at the rate of £1,000 per year from annual income. IZ. Related parties No related party transactions took place during the year, other than certain trustee's expenses already disclosed in note 7. 14