Report of the Directors and Unaudited Financial Statements for the year ended 31 March 2025 for The Housley Bequest Limited
The Housley Bequest Limited
Contents of the Financial Statements for the year ended 31 March 2025
| Page | ||
|---|---|---|
| Company information | 1 | |
| Report of the Directors | 2 | |
| Profit and Loss Account | 3 | |
| Balance Sheet | 4 | |
| Notes to the Financial Statements | 5-6 | |
| Report of the Accountant | 7 | |
| Profit and Loss Account detail | 8 |
| Directors: Secretary: Registered Office: Registered Number: Accountant |
The Housley Bequest Limited Company Information for the year ended 31 March 2025 |
|---|---|
Mrs P M Torry J W Torry R Housley Mrs P M Torry Highcliffe House Sheffield Road Hathersage Hope Valley England S32 1DA 4179409 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 2025 The Directors present their report with the financial statements of the company for the year ended 31 March 2025
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
The Directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.
Mrs P M Torry J W Torry R Housley
Notes
The Bequest has made a number of donations to charities during the year totalling £21,622. These included: Valley CIDS, Mind the Gap (Africa), Rising Souls School (Ghana), Safe at Last, Burton Street Foundation, Sheffield Mencap, Golddigger Trust, Sunshine Yordors, Fountain of Life Ministries, Caritas Salford, Amber Bee CIC, Susie Oldfield for teaching at Eyam Church and Sheffcare Ltd.
The apartment at 18 Weetwood Gardens has been tenanted throughout the period and rent fully paid. There have been a number of maintenance issues but the apartment continues to be a reliable source of income.
Early 2025 saw significant turbulence in the markets and a fall in the value of investments. The global situation continues to be uncertain and remains under discussion by the Trustees.
During the year the Housley Bequest Ltd was pleased to receive further monies from the Bethany Trust as the latter moved towards closure. However it came to light that the Bethany Trust funds were a permanent endowment. David Kirkby of DK Legal has applied to the Charities Commission, on our behalf, for a linking direction in order to preserve the capital for the future. Further information relating to the treatment of the permanent endowment is detailed in the explanation of the restricted funds in Note 7 of the financial statements.
The founder of the Housley Bequest Ltd, Herbert Housley MBE, died April 21st 2024. He and his wife, Margaret, who died 10 years ago, have helped thousands of children and people throughout the world through their generosity and dedication. The Trustees are determined that their legacy will continue to be a blessing to many, in perpetuity.
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:
Signature P M Torry Director Page 2
The Housley Bequest Limited
Profit and Loss Account for the year ended 31 March 2025
| 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 |
31.3.25 31.3.24 £ £ 13,200 13,200 -27,018 -17,332 -21,622 -21,520 -35,440 -25,652 0 0 -35,440 -25,652 37,810 9,928 4,560 1,207 10,830 16,192 40 13 17,800 1,688 0 0 17,800 1,688 |
|---|---|
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 Rathbones Investments managed by RD CREDITORS Amounts falling due within 1 year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES RESERVES |
The Housley Bequest Limited Balance Sheet 31 March 2025 Notes £ £ £ £ 5 264,519 272,275 121,697 28,198 5a 435,141 431,625 5b 740,067 0 6 0 0 1,296,905 459,823 1,561,424 732,098 7 1,561,424 732,098 1,561,424 732,098 31.3.25 31.3.24 |
The Housley Bequest Limited Balance Sheet 31 March 2025 Notes £ £ £ £ 5 264,519 272,275 121,697 28,198 5a 435,141 431,625 5b 740,067 0 6 0 0 1,296,905 459,823 1,561,424 732,098 7 1,561,424 732,098 1,561,424 732,098 31.3.25 31.3.24 |
|---|---|---|
| 732,098 | ||
| 732,098 | ||
| 732,098 |
For the year ending 31st March 2025 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 onxxxxxxxxxx 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 2025
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
2
OPERATING Profit
| The operating profit is stated after charging: | 31.3.25 | 31.3.24 |
|---|---|---|
| £ | £ | |
| Directors emoluments and other benefits etc | 0 | 0 |
3
INVESTMENTS
Investments, managed by Rathbones and Rowan Dartington, are included in the accounts as at 31st March 2025 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 2025 nor for the year ended 31 March 2024.
5
| TANGIBLE FIXED ASSETS COST At 1 April 2024 Additions Disposals 31 March 2025 DEPRECIATION At 1 April 2024 Depreciation Apr24-Mar25 Less Depreciation on Disposals 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 Page 5 |
Land and Buildings £ 310250 0 0 310,250 37975 7756 45,731 264,519 272,275 continued... |
|---|---|
The Housley Bequest Limited
Notes to the Financial Statements - continued for the year ended 31 March 2025
| 5a | Rathbones Investment Funds | 31.3.25 | 31.3.24 | |
|---|---|---|---|---|
| £ | £ | |||
| Cash held by Rathbones | 5462 | 3813 | ||
| Dividends in transit from Rathbones | 2616 | 2643 | ||
| Investments managed by Rathbones** | 427063 | 425169 | ||
| 435141 | 431625 | |||
| ** Book cost | 394360 | 395422 | ||
| 5b | Rowan Dartington Investment Funds | 31.3.25 | 31.3.24 | |
| £ | £ | |||
| Cash held by RD | 15701 | |||
| Dividends held by RD | 2679 | |||
| Investments managed by RD *** | 721687 | |||
| 740067 | 0 | |||
| *** Book cost | 684199 | 0 | ||
| 6 | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.25 | 31.3.24 | |||
| £ | £ | |||
| Other Creditors | 0 | 0 | ||
| 7 | RESERVES | |||
| Unrestricted | Restricted | Total | ||
| Funds | Funds* | Funds | ||
| £ | ||||
| At 1 April 2024 | 732098 | 732,098 | ||
| Profit for the year | 17800 | 17,800 | ||
| Funds transferred from The Bethany Trust | 58243 | 753283 | 811,526 | |
| At 31 March 2025 | 808,141 | 753,283 | 1,561,424 |
- The restricted funds comprise the permanent endowment funds which The Housley Bequest received as a gift from The Bethany Trust on 11th June 2024. The permanent endowment funds are to be held in perpetuity and only the income arising may be used in furthering the Bequest's charitable purposes. The permanent endowment funds are to be held on separate charitable trusts of which the Bequest is the sole trustee. The permanent endowment funds are held for the general charitable purposes of the Bequest. Accordingly, there are no particular restrictions on how the income generated from the permanent endowment funds may be applied in furthering the Bequest's charitable purposes.
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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 2025 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
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The Housley Bequest Limited
Profit and Loss Account for the year ended 31 March 2025
| 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 Sundries Donations Investment Management Fees Depreciation on Fixed assets Finance costs - Bank charges NET PROFIT/(LOSS) |
£ £ £ £ 13200 13200 40 13 1,121 385 36,714 8,161 -26 1,382 4,560 1,207 10,830 16,192 66,439 40,540 746 788 100 100 660 2,034 3,824 0 34 13 2,229 2,200 1,311 558 372 0 21,622 21,520 9,802 3,683 40,700 30,896 25,739 9,644 7,756 7,756 183 200 17,800 1,688 31.3.25 31.3.24 |
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This page does not form part of the statutory financial statements
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