ELY COMMUNITY UNIT TRUST
Statement of Accounts
Year ended 30 June 2024
Registered Charity Number 1101031
Whitings LLP Chartered Accountants George Court Bartholomew's Walk Ely Cambridgeshire CB7 4]W
ELY COMMUNITY UNIT TRUST
Charity Particulars
Year Ended 30 June 2024
nn
| Trustees: | NGMumford - Chairman |
|---|---|
| W J Marshall | |
| M Rone | |
| R J Tyler - Treasurer | |
| Secretary: | W J Marshall |
| Correspondence Address: | George Court |
| Bartholomew's Walk | |
| Ely | |
| Cambridgeshire | |
| CB7 4JW | |
| Principal Bankers: | Lloyds TSB |
| 28 High Street | |
| Ely | |
| Cambridgeshire | |
| CB7 4LA | |
| Independent Examiner: | IGC PiperFCA |
| Whitings LLP | |
| Chartered Accountants | |
| George Court | |
| Bartholomew's Walk | |
| Ely | |
| Cambs | |
| CB7 4JW | |
| Charitynumber | 1101031 |
Page 1
ELY COMMUNITY UNIT TRUST
Trustees’ Report
Year Ended 30 June 2024 nr en The Trustees present their report and independently examined accounts for the year ended 30 June 2024.
Charity Objects
The charity first operated in July 2005. The objects of the charity are: - To relieve in case of need, hardship or disability who are resident within the area of benefit; - To further the education of children and adults resident within the are of benefit: and - For such other charitable purposes for the general benefit of residents within the area as the Trustees think fit. The area of benefit is defined as northern East Cambridgeshire.
Organisation The Charity has rented out its property at fair but commercial rates to a limited company. Currently it owns one large property known as "The Old White Lion". Rent has been received every month from this. All expenditure is fully approved before being undertaken. The Trustees met on five occasions during the year.
Review of Progress and Achievement The Income from the main building commenced in January 2008 at £2,500 per month.
The premises are fully insured.
Donations have been paid to Dentre 33, Ely Catherdral re Transport for Children, Petals, Arts and Minda, VCAEC, Stretham Youth Centre, The Lighthouse Centre,4th Dimension, Highfields and St Mary's Church CAP. The Trustees have considered aspects of Risk Management and believe everything is in order. Each Trustee declares if he has a financial or other interest in all items on the agenda at meetins.
Investment Policy
The Trustees will have as their major investment the property as set out above. Rental income is banked in a current account and when the funds approach £80,000 part is transferred to interest bearing accounts or investments. Funds have been invested in a general Investment Fund using outside experts for advice as stated above. At all times funds are kept to cover for loss of the tenant.
Reserve Policy
It is the policy of the Trustees to keep a reserve of twelve months expenses. Currently the easy access to funds is in the accounts at Lloyds and Santander. The balance being in investments.
Trustees
The Trustees who served during the year are detailed on page 1.
Independent Examiner
TGC Piper FCA has agreed to be the Independent Examiner.
Signed by order of the Trustees:
Richard J Tyler
Date 14 August 2024 SaceeERREEERREEEEeene eee
Page 2
ELY COMMUNITY UNIT TRUST
Independent Examiner's Report to the Trustees
Year Ended 30 June 2024 SERRA [report on the accounts of the charity for the year ended 30 June 2024 set out on pages 4 to 7.
Respective Responsibilities of the Trustees and Examiner
The Charity's Governors are responsible for the preparation of the accounts, and they consider that the Charity is exempt from an audit (under section 43(2) of the Charities Act 1993 (the Act)) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 43(3)(a) of the Act)
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follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the Act); and
~ state whether particular matters have come to my attention.
Basis of Independent Examiner's Statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners an examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide ali the evidence that would be required in an audit and consequently I do not express an opinion on the accounts.
Independent Examiner's Statement
In connection with my examination, 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 41 of the 1993 Act; and
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to prepare accounts which accord with the accounting records and comply with accounting requirements of the Act
and 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.
Dated:. 19 August 2024
IGC Piper Independent Examiner Partner Whitings LLP George Court Bartholomew's Walk Ely Cambs XB7 4]W nner Page[3] ener ern nee
ELY COMMUNITY UNIT TRUST
Statement of Financial Activities
Receipts and Payments Account
Year Ended 30 June 2024
thts tesserae
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||||||||||
|---|---|---|---|---|---|---|---|---|
|30|June|2024|30|June|2023|
|TOTAL|TOTAL|
|£|£|
|INCOMING RESOURCES|
|Incoming|resources|from|generated|funds:|
|Rental|Income|30,000|30,000|
|Interest|received|416|136|
|Cancelled|Grant|-|2020|Ely|Careers|Fair|-|350|
|Total|incoming|resources|30,416|30,486|
|RESOURCES|EXPENDED|
|Cost|of generating|funds:|
|Property|costs|251|243|
|Sundry|-|i|
|Finance:|
|Independent|Examiner's|Fees|318|294|
|Grants|to|other organisations|29,500|24,424|
|Total|resources|expended|30,069|24,962|
|EXCESS RECEIPTS OVER PAYMENTS|347|5,524|
|Investment|-|Transact|-|-|
|NET MOVEMENT|IN FUNDS|347|5,524|
|Balance|brought|forward|57,965|$2,441|
|TOTAL FUNDS CARRIED FORWARD|58,312|57,965|
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The notes on pages 6 to 7 form part of these accounts
eee eens sessment Page 4
ELY COMMUNITY UNIT TRUST
Statement of Assets and Liabilities
As at 30 June 2024
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||||||||
|---|---|---|---|---|---|---|
|—aeonssre outers:|
|FIXED ASSETS|Note|2024|2023|
|Old White|Lion|(Insured|Value)|4|1,883,157|1,831,865|
|1,883,157|1,831,865|
|INVESTMENTS|
|Transact|(Original|cost £315,000)|8|377,788|349,602|
|CURRENT|ASSETS|
|Bank Account|26,075|26,144|
|Building|Society Account|32,237|31,821|
|58,312|57,965|
|CURRENT|LIABILITIES|
|Creditor|300|300|
|LONG|TERM|LIABILITIES AND COMMITMENTS|6|-|2,500|
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Approved by the Trustees on
14 August 2024
Richard J Tyler Treasurer
‘ceeteehee
Page 5
ELY COMMUNITY UNIT TRUST
Notes to the Accounts
Year Ended 30 June 2024
ereerento
11. ACCOUNTING POLICIES
a. Basis of Accounting
These accounts have been prepared on a cash basis in accordance with Appendix 5 of the SORP "Accounting for Smaller Charities"
b Incoming Resources
Income is the amount derived from the provision of services, rents and investment income falling within the Charity's principal activities recognised on a cash basis.
c. Resources Expended
All expenditure is accounted for on a cash basis and has been classified under headings that aggregate all costs related to that category.
Grants are treated as expended when the conditions relating to that grant have been met and the money has been spent. Committed Grants are shown on the Statement of Assets and Liabilities. Expenditure includes attributable VAT which cannot be recovered.
d Tangible Fixed Assets
The Fixed Assets are shown at their insured values on the Statement of Assets and Liabilities.
22. TRUSTEES' REMUNERATION
The Governors' neither received nor waived remuneration during the year. The secretary and treasurer incurred expenses of £Nil (2023 £Nil).
3 3. RESOURCES EXPENDED INCLUDE:
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||||||
|---|---|---|---|---|
|2024|2023|
|£|£|
|Staff Costs|
|Wages|and|salaries|nil|nil|
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There were five Trustees one of whom was secretary throughout the year
Independent Examiner's remuneration 318 294
eeeer enn een Page 6
Notes to the Accounts continued
ELY COMMUNITY UNIT TRUST
Year Ended 30 June 2024
teeter
4 TANGIBLE FIXED ASSETS
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||||||
|---|---|---|---|---|
|Freehold|
|Land|and|
|Buildings|
|Cost|or|Valuation|£|
|At|||July|2023|1,831,865|
|Increase|in|insurance|value|$1,292|
|As|at|30|June 2024|1,883,157|
|Net|Book|Value|
|30|June|2024|1,883,157|
|Ol|July 2023|1,831,865|
|5|LONG|TERM|LIABILITIES|
|There|were|no|long term|liabilities|
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6 COMMITMENTS
It was agreed to pay Motiv8 at stretham Youth Club when they reach the balance of their funding of £10,000 the sum of £2,500. This was done during the year.
7 TRANSACTIONS WITH TRUSTEES
Other than the reimbursement of expenses to the secretary and treasurer there were no transactions with the other Trustees.
8 INVESTMENTS
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|---|---|---|---|---|---|
|Cost|or|Valuation|£|
|At|I|July|2023|349,602|
|Increase|in|funds|invested|-|
|Increase/(decrease)|in|value|28,186|
|As|at|30|June|2023|377,788|
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