Report of the Directors and Unaudited Financial Statements for the year ended 31 March 2021 for The Housley Bequest Limited The Housley Bequest Limited ## Contents of the Financial Statements for the year ended 31 March 2021 ||Page|| |---|---|---| |Company information||1| |Report of the Directors||2| |Profit and Loss Account||3| |Balance Sheet||4| |Notes to the Financial Statements||5| |Report of the Accountant||7| |Profit and Loss Account detail||8| The Housley Bequest Limited Company Information for the year ended 31 March 2021 **Directors:** J P Heath (resigned 2nd April 2021) Mrs P M Torry H Housley (resigned 6th July 2020) J W Torry R Housley **Secretary:** Mrs P M Torry **Registered Office:** Highcliffe House Sheffield Road Hathersage Hope Valley England S32 1DA **Registered Number:** 4179409 Accountant M E Vinall Haycot 8 Gill Close Wickersley Rotherham S66 1EX Page 1 The Housley Bequest Limited Report of the Directors for the year ended 31 March 2021 The Directors present their report with the financial statements of the company for the year ended 31 March 2021 ## **PRINCIPAL ACTIVITY** The principal activity of the company in the year under review was that of charitable purposes. The Company is a registered charity with the Charity Commission, number 1088555. ## **DIRECTORS** Except where otherwise indicated, the Directors shown below have held office during the whole of the period from 1 April 2020 to the date of this report. J P Heath (resigned 2nd April 2021) Mrs P M Torry H Housley (resigned 6th July 2020) J W Torry R Housley ## **Notes** In May 2019 The Housley Bequest purchased a property at No 18 Weetwood Gardens, Sheffield S11 9SU for the sum of £310250, with the intention of renting the property to two disabled tenants. Unfortunately, one of the intended tenants became ill and was (and still is) unable to take up the tenancy. The other chose to make alternative arrangements. The property remained unoccupied, pending a decision by the Directors as to future use or disposal of the property, which was exacerbated by the Covid-19 crisis. At the AGM held in July 2020, the Directors decided to retain the property as an investment and seek alternative tenants. Tenants moved into the property in August 2020 and the accounts have benefitted from rental income for 8 months. The financial worth of the Bequest over the 12 months, has increased by £27000 due to a significant profit on disposal of investments and the increase in unrealised profits on investments. This reflects the recovery in the value of investments generally, which had suffered large losses at the previous year end arising from the covid-19 issue . Donations continue to be made to those charitable causes which have regularly been supported by the Bequest, and who are suffering financial challenges at this time. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015) ## **ON BEHALF OF THE BOARD:** P M Torry Director Page 2 ## The Housley Bequest Limited ## Profit and Loss Account for the year ended 31 March 2021 |Notes
**TURNOVER**
Property Rental Income
Administrative Expenses
Donations Made
Other Operating Income
**OPERATING LOSS**
2
Interest Receivable and similar income
Profit/(loss) on disposal of investments
Unrealised profits/(losses)
3
Donations Rec'd
**PROFIT/(LOSS) ON ORDINARY ACTIVITIES**
**BEFORE TAXATION**
Tax on profit/(loss) on
ordinary activities
4
**PROFIT/(LOSS) FOR THE FINANCIAL YEAR**
**AFTER TAXATION**|31.3.21
£
7,200
-17,619
-8,173
-18,592
0
-18,592
5,745
20,594
19,398
13
27,158
0
27,158|31.3.20
£
0
-15,810
-19,377| |---|---|---| |||-35,187
0| |||-35,187
6,255
-841
-27,139
13| |||-56,899
0| |||-56,899| The notes form part of these financial statements Page 3 |**FIXED ASSETS**
Tangible Assets
**CURRENT ASSETS**
Cash at bank and in hand
Investments managed by Investec
**CREDITORS**
Amounts falling due within 1 year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**RESERVES**|The Housley Bequest Limited
Balance Sheet
31 March 2021
Notes
£
£
5
295,543
37,404
5a
248,715
6
0
286,119
581,662
7
581,662
581,662
31.3.21|£
£
303,299
39,363
211,842
0
251,205
554,504
554,504
554,504
31.3.20|£
£
303,299
39,363
211,842
0
251,205
554,504
554,504
554,504
31.3.20| |---|---|---|---| ||||| ||||554,504| ||||554,504| ||||554,504| For the year ending 31st March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Board of Directors on 11th May 2021 and were signed on its behalf by: P M Torry Director The notes form part of these financial statements Page 4 ## The Housley Bequest Limited Notes to the Financial Statements for the year ended 31 March 2021 ## 1 **ACCOUNTING POLICIES** ## **Accounting convention** The financial accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Buildings 40 yrs ## **Deferred tax** Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. 2 **OPERATING LOSS** The operating loss is stated after charging: |The operating loss is stated after charging:||| |---|---|---| ||31.3.21|31.3.20| ||£|£| |Directors emoluments and other benefits etc|0|0| 3 ## **INVESTMENTS** Investments are managed by Investec Wealth and Investment Ltd and are included in the accounts as at 31st March 2021 at the current market value as reported by them. Unrealised profits or losses have been included in the Profit and Loss account recognising the difference between the market value and book cost of the investments. 4 **TAXATION** ## **Analysis of the tax charge.** No liability to UK corporation tax arose on ordinary activities for the year ended 31 March 2021 nor for the year ended 31 March 2020. 5 |**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2020
Additions
Disposals
31 March 2021
**DEPRECIATION**
At 1 April 2020
Depreciation Apr20-Mar21
Less Depreciation on Disposals
31 March 2021
**NET BOOK VALUE**
At 31 March 2020
At 31 March 2019
Page 5|Land and
Buildings
£
310250
0
0
310,250
6951
7756
14,707
295,543
303,299
continued...|Plant and
machinery
etc
£
0
0
0| |---|---|---| |||0
0
0
0| |||0
0| |||0| |||| ## The Housley Bequest Limited ||Notes to the Financial Statements-continued||| |---|---|---|---| |5a|for the year ended 31 March 2021||| ||**Investec Wealth Management Funds**|31.3.21|31.3.20| |||£|£| ||Cash held by Investec|4928|10233| ||Dividends in transit from Investec|967|849| ||Investments managed by Investec**|242820|200760| |||248715|211842| ||** Book cost|219603|196941| |6|||| ||**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |||31.3.21|31.3.20| |||£|£| ||Other Creditors|0|0| |7|||| ||**RESERVES**||| |At 1 April 2020
Profit for the year
At 31 March 2021|Profit
and loss
account
£
554,504
27,158| |---|---| ||581,662| Page 6 ## The Housley Bequest Limited ## Report of the Accountant to the Directors of The Housley Bequest Limited As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages three to six and you consider that the company is exempt from an audit. In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me. M E Vinall Haycot 8 Gill Close Wickersley Rotherham S66 1EX I have conducted an Independent Examination of the accounts and can confirm that no matter has come to my attention: - (1) which gives me reasonable cause to believe that, in any material respect, the requirements - to keep accounting records in accordance with Section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. P E Brown 21A Meadowhead Sheffield S8 7UA Page 7 ## The Housley Bequest Limited Profit and Loss Account for the year ended 31 March 2020 |**Incoming Resources**
Property Rental Income
Donations received
Bank Interest
Dividends receivable
Accrued Dividends/Interest - incr/(decr)
Profit/(Loss) on Disposal of Investments
Unrealised Profits/(Losses) - incr/(decr)
**Expenditure**
Insurance
Rent & Rates
Property Management Fees
Legal & Professional Fees
Companies House
Service Charges
House Running Costs
Donations
Investment Management Fees
Depreciation on Fixed assets
Finance costs - Bank charges
**NET PROFIT/(LOSS)**|£
£
7200
13
14
5,613
118
20,594
19,398
52,950
287
800
1,289
0
13
3,840
325
8,173
3,237
17,964
34,986
7,756
72
27,158
31.3.21|£
£
13
228
8,477
-2,450
-841
-27,139
-21,712
256
1,640
1,602
13
1,067
782
19,377
3,375
28,112
-49,824
6,952
123
-56,899
31.3.20|£
£
13
228
8,477
-2,450
-841
-27,139
-21,712
256
1,640
1,602
13
1,067
782
19,377
3,375
28,112
-49,824
6,952
123
-56,899
31.3.20| |---|---|---|---| ||||| ||||-49,824
6,952
123| ||||-56,899| This page does not form part of the statutory financial statements Page 8