Richard Dumbreck's Singleton Trust Registratlon number: 1106862 Annual Report and Financial Statements 5 April 2024 dOdd&co
Rlchard Dumbreck's Singlaton Trust Conlents Reference and Administrative Details Tfust8es' report Trust&8s' responsibilities Independent auditors. report Staternent of financlal actlvlties 10 Balance Sheet 11 Notes to the financlal slatèments 12
Richard Dumbreck's Singleton Trust Reference and Admlnlstratlve Details Charity name Richard Dumbreck's Singleton Trust Charity raglstratlon numb•r 1106862 Prlnclpal office Ingham & Yorke Brookside Bam Downham CLITHEROE BB7 4BP Ragl$t•red offi¢e Ingham & York8 Brooksid6 Barn Downham CLITHEROE BB7 4BP Trustees K Walker S Fryars P Allen A Rogerson OKay S Cholmondeley M Smith A D Hindley (Appointed 14 December 2023} A R Davies (Appoinled 14 December 2023} 8ollcltor Naplhens Darw8n House Walker Office Park 8LACKBURN B812QE Bankers Barclays Bank PIC Castle Street CLITHEROE 8B7 2BU Audltor Dodd & Co Audlt Limlted FIFfEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Page 1
Richard Dumbreck's Singleton Trust Reference and Administrative Detalls Investment Advisor Investec Wealth and Investment Limited 30 Gresham Street LONDON EC2V 7QN Page 2
Richard Dumbreck's Singleton Trusl Truslees. Report for the Year Ended 5 Aprll 2024 Approved by the Trust88s on 21 November 2024 and signed on their b8half by.. The financial statements have been prepared in accordance wth the accounting policies sel out in noles lo the accounts and comply with the charitls govemlng document, Ihe Charities Act 2011 and Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo chariti85 prepartng their accounts In accordanGe with the Flnanclal Reportlng Standard appllcable lo the UK and R8publl¢ ol Ifel8nd. STRATEGIES FOR ACHIEVING OBJECTIVES The Trustees strategies are formulated for tha banefit of th8 community of Singleton. During the year work continued on a number of aspects of the Vision for Great Singl8ton, including dètailed discussions with various organlsalions and with advic& being sought from the Charity Commission. The Trustees continued lo liaise generally with Ioc81 groups and organisalions. The Trustees focus for the year was once again on the maintenance and Improvement of their properties and land, with continued attention on th8 condition of the estate woodland. including the replanting of Caudle Wood. Financial support was also provided for local organisalions. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC 8ENEFIT The Tru5te8s have paSd due regard to guldance Issued by the Charity Commission in deciding what activi1188 they Should undertake. The Trustoes confirm th81 they have paid due regard lo the Charity Commission guidan¢8 on public benefit reporting in deciding what actlvitles the ch8rily should undertake. Th8 remainder of Ihls AnnLial Report explains the Charity's work durlng the year and how it has been carri8d out for the publlc benefit. ACTIVITIES FOR ACHIEVING OBJECTIVES The a¢tlvltles und8rtaKen lor the objectives of the Charity have bèen th8 renting out of properties to the inhabiianls of Singleton and Ihls has rais8d £231,079.0012023.' £226,203.00). Surplus funds have be8n used lo forward the oblectlves of Ihe Charlty. REVIEW OF ACTIVITIES During the p&riod Ihe Charity received gross rental incom8 of £231,079.00 12023.. £226,203.00) from tho inhabitants of Singleton Village who rent the prop8rt18s contained within the Trust. Repair work and utility payments appertaining to the properties amounted lo £80,426.00 (2023.. £165,462.00) whilst there wa5 no capital expenditure incurred 12023.. £550.00). Governance costs in the period amounted to £50,428.00 12023= £49,480.00>. The Tnjsl continued to carry out repairs and extemal re48cora*ion lo Ihe properties during the year. No major cottage refurbishment schemes were required during this period. An updated tree condition report was obtained and further work was carried out on the removal of dead and potentially dangerous trees in the estate woods and adjoining roads and properties in ac¢ordance with the recommendations received in the report. Caudle Wood was replanted during the winter of 2023. Mr Edward Mills conlinu8s lo provide specialist woodland advice to the Trust. For the year commencing 6th April 2023 Mr. K. Walker was re-appointed as Chair, Mr. M. Smith was appointed Deputy Chalr after Mrs. A. Rogerson confirmed she did not wish to sland again for this position du8 to work commitments and Mr. P. Alleri was re-appointed as Treasurer. Rents No.2 Statlon Road was re-let In November 2023 followlng some mlnor repalr works being carrled OUL The Sporting Rights Agreement was renewed with Mr. T. Pridmore from February 2024. The land previously let to Cuadrilla remains in-hand whilst the aflercare agreement monitored by Lancashire County Councll continues. Page 3
Richard Dumbreck's Singleton Trust Trustees. Report for the Year Ended 5 Aprll 2024 The Trustees made the following charitable donations during Ihe financial year.. Singleion School- £12.350.00 FOSS IFri&nd$ of Singleton School)- match funding - £2,325 Slngleton Gala - £50.00 Local Resid&nl- Bereavèmènt Financial Assistance- £1.930.00 Acoms Nursery re Child Caro- £851.00 £765.00 Poppy Appeal - £20.00 L Fryar5 re Singleton Scarecrow Competition - £190.00 A Hindley re Singleton Villag9 Coronation Lunch- £292.00 M L Planning- planning fee for new clubhouse for Singlelon BovAing Club - £820.00 Sin9lelon Parish Councll- 50% c06t of litter plcking - £2,808.00 Youth Opportunilles Scheme Appllcattons- £250.00 and £160.00 In addition, an historic loan lo Singleton School of £10,040,00 has been written off and Irealed 8s a gift lo the school. Work on thi5 scheme by Highways England has continued and is nearing compl8tion. The final claim for compensation is likely to be submitted shortly. Highways England have approached the Trust to enquire whether the Trust would like lo retain ownershlp of a small area of land which is not now requlred for the s¢h8me and discusslons about this are ongoing. Thjstees have continued to maintain the concessionary footpaths and the P(JaGe Garden and th8 use of these facilitiès has conlinu&d to ba enjoy&d and proved beneficial to local residents. Further bulb planting has been carried out in th8 P8ace Garden. The site wslh th8 benefit of outline planning pemiission for a small residential development scheme on land at Manor Farm, to the south of Weelon Road, has been marketed for sale by tender and bondilional contracts for its sale to Lanley Developments Ltd were exchanged in January 2024. The Sale is conditional on a satisfactory full planning permission being obtained by Lanley together with the Trustees approval lo the proposed plans and the outcome of the application was awaited al the financial year end. Prior to exchange of contracts the Trustees soughl speci81isl legal advice, inoluding correspondence with the Charity Commission, to ensure that they had the necessary power lo sell Ihe land and that all due processes had been followe¢. The Trust has conlinued to liaise with Singleton Bowling Club in respect of their wish to build a new clubhouse and paid £821.00 to M L Planning Consultants in resp&cl of their fees for submitting the necessary planning application on behalf of the Club lo Fylde B.C. The Trust also agrèed lo make a contribution of £51, 182.00 lo the 8owling Club towards the cost of the project, but only once the Bowling Club had reached agreemenl with the Diocese of Blackbum, the owners of the land, in respect of lei'ms for a long term lease of the land from the Diocese to the Club. Terms were agreed in April 2024 with the project due to cotr.mence in May 2024. Pag8 4
Richard Dumbre¢k's Singleton Trusl Trustees. Report for the Year Ended 5 Aprll 2024 Discussions are also currently taking place been the Trust and the Dio¢ese with regard to land ownership by both parties within Great Singleton and the possibility ol an exchange of some land, to both parties mutual benefit. Loll of Possible Vi Discussions have continued with Singleton Parish Councll regarding the possibility of a collaborative project lo create a village green for Singleton on Trusl land between Church Road and The Millers Arms, as envlsaged within the original Vlsion for Singleton. Singleton Parish Council are leading on this matter and have discussed It wilh Fyldg 8.C. Ther¢ havo b8en conslderable delays bul Fylde 8.C. have now confirmed that thoy have assigned a project manager and deslgn8r, so il is hoped thal progress will be made on this project in the coming y8ar. an No decision has yel b88n reached on lh8 futurè use of the old workshop and kennels following r&ceipt of a feasibility study. Work has commenced on clearing out the old buildin9s and the unused yard area lo the rear has b8en let on a short term Iic6nc8 basis for storage purposes. 'chard Cornish. the partnar al Ingham & Yorke who has b88n responsible for the management of tha Trust's land and propefty at Singleton since the fomiation of the Trust, announced his intention lo retire from 30th April 2024. Richard Bell. who had worked for Ingham & York8 previously including assisting with the Sing181on Estat8 management, was re-joining the firm from 28th April 2024 as a partner and would take over responsibility for the on-going managemenl work for the Trust. K Walk8r Trustee P Allen Trustee Page 5
Richard Dumbreck's Singleton Trust Trustees. Responslbllttles In relatlon to the Flnanclal Statements The trustees are responsible for preparing th8 Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in Eng18nd and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources of the charity for Ihal period. In preparing these financial statements. the trustees are required lo: select suitable accounting policies and then apply thèm consistently., observe the methods 8nd principles In th8 Charities SORP. make judgements and 8Stima18S that are reasonable and prndent., state whether applicable accounting standards have been follow8d, subject lo any matérial departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless It Is inapproprialo to presumo th8t Ihe charity will conlinue in business. The tru$tees are responsible for keeping proper accounting records that disclose wlh reasonable accur8cy at any lime Ihe financial position of the charity and enable them to ensure that the financial statemènts comply with the Charities Act 2011 as amended by the Charities Act 2022, the Charity (Accounts and Rèports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for laking reasonable steps for the prevention and delecliDn of fraud and other irregularities. Page 6
Independent Audltors. Report to the Trustees of Richard Dumbreck's Slngleton Trust Oplnlon We have audited the financial slalemen15 of Richard Dumbr8ck's Singleton Trust for the year ended 5 April 2024. sel out on pages 10 to 21 which comprise Ihe Statem8nl of Financial Activities, the Balance Sheet, thg Statement of Cash Flows and the related notes. The finan¢i81 reporting frarnework that ha5 been applied in Iheir preparation Is applicable law and Unit8d Kingdom Accounting Standards. including Financial Reporting Standard 102 (FRS 102) The Financial Reporting Standard appllcable in the UK and Republic of Ireland {Unlted Klngdom Generally Accepted Accounting PraGtice). In our opinion the financial stal8ments.' givo a Iwe and falr vi8w of th8 slate of the charity's affairs as at S April 2024 and of Its Incomlng resources and application of rgsources. for the year Ih8n ended; have been property prepared in accordancé with Unit8d Kingdom Ganerally Accepted Accounting Practice applicable lo smaller entities.. and have been prepared in accordance wllh the requiTrmenls ol the Charities Act 2011 Bagls for oplnlon We coriducled our audit in accordance with Inlornalional Standards on Auditing {UK) (ISAS (UKII and applicable law. Our responsibilitl8s under those standards are further described in the Auditor's r8SPOllsibililies for th8 audit of the financial slalernents section of our report. We ar8 ind8pendenl of th8 Charity in accordance wilh the ethi¢al requlremenls that are relevant lo our audSt of the financial Statements in the UK, Includlng the FRC'S Ethlcal Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffiGient and appropriate to provlde a basis for our oplnlon, Conclu8lon$ relotlng to golng conc•rn In auditing the financial stalernents, we have concluded that the Iruslee'8 use of the golng conc8m basS8 of accounting in Ihe preparation of the financial slalemenls is appropriate. Based on the work we have p8rfomi8d, w8 havè not id8nlified any material uncertair¢lies relating Io gvgnts or ondilions that. individually or collectively, may cast si9nifi¢anl doubt on the charity's ability lo continue as a going concern for 8 p8rlod of al le88112 months from when the linancial st8temenls aro authorlsed for issu8. Our responslbllStles and the r8sponsibilits.8s of th8 trusteès wth respect to going concern are degcribed in the rel8vant section5 of thls report. Other infoTmatlon The olher Snformatlon comprls85 the information included in the annual report. other than the financi81 slalements and our auditor's report thereon. The Iruslees are responsible for the other information. Our opinion on the financial statemenls does not cover the other Infomiallon and we do not express any form of 88surance conclusion th&reon. In connection with our audit of the financial statemanls, our responsibility is to rgad tho other Information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated. If we idenlify such material incon51slencies or apparent materlal misstatements, we are requi¢ to determine whether the is 8 material mi$5tat8menl in the financial statements or o malerial misstatement of the other infomiation. If. b8S8d on the work we have performed. we conclude that there is 8 material misstatement of this other infomation, we are required lo report thal fact. We have nothing to report in this regard. Paga 7
Independent Auditors, Report to the Trustees of Rlchard Dumbreck's Slnglelon Trust . continued Matt•r8 on whlch we are r¢qulred to r•port by exceptlon . In the light of the knowledge and understanding of the Charity and its environment obtained in the COUTSe of the audit, we have not identified material mis51alemenls in the Trustees, Annual Report. We have nothing lo report in respect of the following matters where the Charities (Accounts and Report8) Regulations 2008 requires us lo report to you if, in our opinion.. adequ8le accounting records have not been kept, or r8lums adequate for our audit have not b88n rec8ived from bran¢hes nol visited by us., or the fln8ncial statements are not in agreement Mlh the accounting records and r61ums,' or we have not receiv8d all the Infomiation and éxplanations we require for our audit. Responslbilitios of trugteo8 As explained more fully in the Trustees, Responsibllilies Slalemonl set out on page 6, the trustees are responsible for the preparatlon of the Financial Stslemenls which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of Financial Stalemenls that are fr88 from materlal misstatement. whether due to fraud or error. In preparlng the financial statements, the trustees are responslble for assgssing th& charlly's ablllty to conllnue as a going concem, disclosing. as applicable, matters related lo going concern and using the going concem basis of accounllng unless the Iruslees either intend lo Ilquldate the company or lo cease operations, or have no realislic alternative bul lo do so. Audltor's ro8pon8lbillties for the audlt of th• flnanclal statements Our objectiv&8 are to obtain reasonable assurance 8bout whether th8 flnancial statements as a whole are free from material misstatement, whether due lo frasjd or error, and to 155ue an auditor's rgport that includes our opinion. Reasonable assurance 18 a high level of assurancè bul is not a guarantee that an audit conducted in a¢cordance wilh ISAS (UK) will always detect a material mlsslatement when it exists. Misslalements can arise from fraud or error and are considered mal6rial if. individually or in lh8 aggregate, thèy could reasonably be expected to inffluènce thè economic decisions of users taken on tha basis of these financial slat8menis. Irregulaiilies. Including fraud, are instancés of nonrycompliance with laws and r8gulations. We design procedures In line with our responsibilities, oullln8d above, to detect material misstatements In r8spect of irr8gularilies, including fraud. The specific procedures for Ihls engagement and the extent to which these are capable of detecting Irregularities, including fraud is detalled below,. Page 8
Independent Audllors. Report to the Trustees of Rlchard DumbreGk's Slngleton Trust . continued We have., Obtained an understanding of the legal 8nd gUlatOry framework applicable to the entity and how the entity is complying with that framework.. Obtsined an understanding of the entity's policles and procèdures on compllan¢e wllh laws and r8gulations, including documentation of any instances of non-complianc8,' Idenitfied the laws and regulations that have significance in the conlexl of th8 8nlity', Obtained an understanding of the entity's risk 88888sm6nt process. including the risk of fraud,. Assessed 8nd avaluated the $usc8plibility of th8 entitys financial statements to m81erial misstatement, through error and fraud., Implemented procedures to enable the identification and testing of unusual or unexpected journal entries; Evaluated th8 assumptions and judgements used by management within significant accounting estimates and assessed if these indicate 8vidence of management bias., Tested significant transactions. in particular the evaluatlon of thè buslness rationale for any tCh appear unusual or outside the company's normal course of business., Review8d the fiiiancial statements and tested the dSsclosures against supporting documentation,. Communicated relevant matters (including those above) to 811 members of the audit team lo ensur8 th8y understood the rlsks specific lo thè entlly and the audil procgdures planned to miligale these. A further d8scriplion of our rgsponsibililies for the audll of th8 financlal slalem8nts is located on the Financial Reporting Council's website at.. www.frG,org,ukJaudilorsresponsibili118s. Thls descripllon foms part of our audltor's report. Because of the inherent limitalions of an audit, there is a risk Ihal we wll not detect all irregularities, including lhose18ading to a material misstatement in the financial Slalements or non-compliance with regulation. This risk increases the moro that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalemenls, as we wlll be less likely lo become aware of Instances of non-complianee. The risk is also greater regarding irregularities occurring du& to fraud rather than error, as fraud involv8S Intentlonal concealment, forgery. colluslon, omlsslon or misrepresentation. Use of our report This rgport is made solely to the charity's trustees, in accordance wilh Part 4 of the Char,.tl8s {Accounts and Rgportsl Rggulalions 2008. Our audit work has been undertaken so that we might stale lo the charity's Iruslees those matters we are required lo state lo them in an auditor's rgport and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the ¢hafity and the ch8rity's truslees, for our audit work, for Ihi5 report, or for the opinions we have formed. FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Dodd & Co Audit Limi18d Chartered Accountants & Reglslered Auditors 21 November 2024 Dodd & Co Audit Limited is eliglble to act as an auditor in terms of sect6on 1212 of Ihe Companles Ad 2006 Page 9
Richard Dumbreck's Slngleton Trust Statement of Financial Activities for the Year Ended 5 April 2024 Unrnstrlct•d Total Fund8 Total Fund8 Funds 2024 2023 Note Income Investments Charitable activltles Total income 32.357 32,357 231,079 263,436 29,461 248,018 277,479 231.079 263.436 Exp8ndltur• Raising funds Charilable acliviti8S 12,417 184.957 197.374 12.417 184,957 197,374 11.850 253.775 265,625 Total expenditure Gainsl(10$s951 on invostm8nl assets 72,747 72.747 1,047,656 Nel Incomellexpendllure) 138,809 138,809 1,059,510 R•concillation of fvnd¥ Total funds brought fOard Total funds carrigd forwgrd 11,903.254 11,903,254 12,042.063 12.042,063 10.843,744 11.903,254 All of the income and exp8ndlture In 2023 related to unreslrlcted funds. The notes on pages 12 to 21 form an Integial part of these financial statements. Page 10
Rlchard Dumbreck's Singleton Trust Balance Sheet as at 5 Aprll 2024 2024 2023 Noto Fixed ass9ts Tangible ass8ts Investments 10 11 3.271 11,860,033 11,863.304 4,923 11,765.009 11,769,932 Current as8at8 Debtors Cash at bank and in hand 12 23.555 184, 144 207,699 37.307 134.529 171,836 Credltor8: Amount8 falling due within on• year 13 (28,940) 138,514) Net currenl as$ot• 178.759 133,322 Net a8•at8 12,042.063 11,903,254 The funds of the ¢harlty'. Unre8trlct•d fund8 Unre$lricted income funds 12,042,063 11,903,254 Total charlty lund$ The flnancial slalements have been prepared in accordance with the Flnanclal Reportlng Standard appllcable In the UK and R8publlc of Ir8land IFRS 102). 12,042,063 11,903,254 Approved by the B08rd on 21 Nov8mb8r 2024 and signed on its behalf by: K Walker Trustee P Allen Trustee The notes on pages 12 to 21 fom an integral part of these financial statements. Page11
Richard Dumbreck's Singleton Trust Notes to the Financlal Statements for the Year Ended 5 Aprll 2024 Accountlng pollcles Statement of compllance The accounts (financial statements) have been prepared under the historical c051 convention with iiems recognised at cost or transaction value unless othemise slated in the relevant nolels} to these accounts. The financial stalomenls have been prepared in accordance with the second edition of the Charities Stat8ment of Recommended Practice issued in October 2019. the Financi81 Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act 2011 as amended by the Charities Act 2022. The accounts (financial statements) have been prepared to give a 'lrue and fair, vigw and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'true and fair view,. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance wth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 rather than the Accounting and Reporting by Chanlies.'Statement of Recommended Practice effective from l April 2005 which has Since been withdrawn. Basis of preparation The charily meets the definition of a public benefit entity under FRS 102. Assets and liabilitiès are initially recognised at historlcal cost or transaction value unless otherwise slated in the relevant accounting policy notes. Golng concern These fin8nci21 statements have beèn prepared on a going concern basis. Fund accounting policy Unrestricted income funds are g&neral funds that are available for use at the Irustees. discretion in furtherance of the objectives of the charity. Further details of each fund are disclosed in note 16. Income and endowments Income from Government and other grants. whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditiDns attached lo the grants have been met, it is probable that th8 income will be received and the amount can be measured reliably and is nol deferred. Investment income is recognised on a receivable basis. Income from charitable activities includes income recognised as earned las th8 related goods or services are provided) under contract. Pag8 12
Richard Dumbreck's Singleton Trust Notos to th8 Flnanclal Statements for the Year Ended 5 Aprll 2024 . continued Expendlture Liabilitiés ale recognised as soon as thère is a legal or constructive obligation commltting the charity lo the expenditur8. All expenditure is accounted for on an aocruals basis and has been classified under haadings that aggregale all costs re18ted to the catégory. Expenditure on ralsing funds are investment manag8m8nl faes. Charitable expenditure comprises those costs incurrod by the Chartty In tha delivery of ils activities and services for ils beneficiaries. It includas both costs that Can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where the charity gives a grant with conditions for ils payment being a specific level of 58rvice or output to bè provlded, such grants are only recognised In the SOFA once the recipient of the grant has provSded the speGifiG seNice or output. Grants payable without perfonnance conditions are only recognised in the accounts when a commllment has been made and there are no conditions lo be met relating lo the grant which remain in the control of the charity. Provisions for grants are made wthen the intenlion to make a grant has been communlcated to the recipient bul Ihere is uncertginty about &ither the timlng of the grant or th8 amount of grant payablè. Support costs Support costs Include Contral functions and have been allocated to activity cost ¢alegorie$ on a bas18 ¢onslslenl wllh the use of resources, for examp18. allocallng property costs by floor areas, or pér caplts, staff costs by the lime spènt and oth8r costs by their usage. Flxgd a$80ts Indlvldual fixed assets cosllng £100 or more are Inlllally recorded al cosl. Deprgclallon Dapreclalion is provided on tangible fixed assets so as lo write ofl the cost or valuation, less any estimated residual value, over their expected u8eful economic Ille as follows.. P18nl and machin8ry Flxtures and fittings 20Yo reducing balance basis 250A Straight line basis Cash and Cash Equlvalents Cash and cash equivalents compris8 cash on hand and call deposits. an¢ other short-term highly liquid Investments Ihat are readily convertiblo to 8 known amount of cash and arg subject to an insignificant risk of change in value. Invostment propertles Certain of the charity's properties are held for long-lemi investment No depreciation is provided in respect of investment properties and they are revalu8d annually. The surplus or d6ficil on revaluation is credited or charged lo th8 Statement of financial activities based on the market value 8t the yaar end. Pago 13
Rlchard Dumbreck's Singleton Trust Notes to the FlnanGlal Statements for the Year Ended 5 Aprll 2024 . continued Investments Fixed asset investments are included al market value at the balancè sheet date. R8alis6d gains and losses on investments are calculated as the difference b91ween sales proce8ds and thelr market valu6 at the start of the year, or their subsequent cost. and are charged or credited lo the statement of the financial activities in the period of disposal. Unrealised gains and losses repres8nt the movement in m8rkel values during the year and are credited or charged to th8 slaternenl of financial activities based on the market value al the year end. Instment Incomp Unrnstrlctod Total Funds Total Funds Funds 2024 2023 Dividends receiv6d Bank deposit Interest 30,426 1,931 30,426 1.931 29,249 212 32,357 32.357 29,461 Charftablo actlvltle8 Unrestricted Total Funds Total Fund• Funds 2024 2023 Singleton e8tato Rental income Other income (Profitllloss on salo of tangible fixed assets held for Charitys own use 231,079 231.079 226,203 21.190 625 231.079 231,079 248,018 Pa98 14
Rlchard Dumbreck's Singleton Trust Notes to the FlnanGlal Statements for the Year Ended 5 Aprll 2024 . continu8d Expendlture Investment Slnglèton Income estate Total 2024 Total 2023 Dlreet costs Grants payable Portfolio management fee Foreigr¢ currency {gains)Ilosses Utilities Insurance Repairs and renewals Bad debts written off 35,474 35,474 12,476 (591 4,813 10,788 69,949 8.169 141,610 16,409 11,850 12,476 {59) 4,813 10,788 69,949 8,169 129,193 4,725 9,281 160,737 7,390 210,392 12,417 Support costs Website expenses Sundry expenses Trustee expenses reimbursed Account8ncy fees The audit of the charity's annual accounts Sècretarial Servirks Legal and prolesslonal fèes Depreciatson and impairm6nt 413 1,975 900 2,520 6,960 396 40,948 1,652 413 1,975 900 2,520 6,960 396 40,948 1,652 55,764 403 2.138 700 2.223 3.600 43,657 1,671 55,233 12,417 184.957 197,374 265,625 Page 15
Richard Dumbreck's Singleton Trust Notes to Ihe Flnanclal Statements for the Year Ended 5 Aprll 2024 . continued Grants payable 2024 2023 Kathrin Fryars Contribution to Singleton School & Frlends of Slnglelon School Contribution to Singelton School Singleton & Thlstleton Gala Singlalon Parish Council Acorns Breakfast Club Poppy Appeal Singleton School 8ereavemenl Asslslance Donation lo a Local Resident Rachael Bullough L Fryars- Scarecrow Payment towards Child Care Payment towards Ghild Care Planning application re Bowling club pavilion Slngleton coronation lunch 50% contribution lo lrtler picking Cost towards iPad 6.597 2,325 4,984 12,350 50 5.000 210 2,202 75 20 10,004 1,930 160 190 851 765 820 292 2,808 250 16,409 Govèrnan¢• ¢osts 2024 2023 Accovnlancy feès Audftors remuneration - 2023 accounts Auditorn remuneration - 2024 accounts Legal and professional fees 2,520 1.920 5,040 40,948 50,428 2,223 3.600 43,657 49,480 Trustees. remuneiatlon and •xpon8es £900 12023 £700) was paid to nine12023 s8ven> trustees for the reimbursement of Ir8veS expenses during the year. Pag8 16
Richard Dumbreck's Singleton Trust Notes to the FlnanGlal Statements for Ihe Year Ended 5 Aprll 2024 contlllU8d Net Incomlng resources Net inMing resources is stated aft8r chargingl{creditingl: 2024 2023 The audit of the charity's annu81 accounts 6,960 3.600 6,960 3,600 Proflt on disposal of langlblo fixed assets Depreciation of owned assets 1625) 1.671 1,652 Page 17
Richard Dumbreck's Slngleton Trust Notes to the Flnanclal Statements for the Year Ended 5 Aprll 2024 . continued Taxation The regislared charity is ex8mpt from taxation on income and gains. 10 Tanglble Ilxed assèls Plant and machlnory Flxtur•s, includlng motor ffttlngs and v•hl¢le8 equlpment Total Cost As at 6 April 2023 and 5 Aprfl 2024 4,785 13,254 Depre¢latlon As at6 April 2023 Charge for Ihe year As al 5 April 2024 3,453 267 3,720 4.878 1,385 6,263 8.331 1,652 9,98.3 Not book value As at 5 Aprll 2024 As at 5 April 2023 1,065 1,332 2.206 3,591 3,271 4.923 11 Inveslments held as fixed assèts Investment proportles Llstod Inve$tm•nts Totsl Markét valu• As al 6 April 2023 R¥valuallon Additions Disposals As al 5 April 2024 10,795,000 2,000 970,009 70,747 453,737 1431,4601 1,063,033 11,765,009 72.747 453,737 (431,460) 11,860.033 10,797,000 Not book value As at 5 April 2024 As al 5 April 2023 All investment assets are either lisled on UK or ov8rseas Stock exchanges, or valued by reference to such investments. 10,797.000 10,795.000 1,063,033 970.009 11,860,033 11,765,009 Investment property is comprised of properties rented out. Investment prop6rties were revalued by Richard Cornish FRICS on behalf of Ingh8m & Yorke Chartered Surveyors In the year ended 5 April 2023. The Board have reviewed the value of the investment properties and consider these lo be al fair value at tho year ended 5 April 2024. Page18
Richard Dumbreck's Slngleton Trust Notes lo the Flnanclal Statements for the Year Ended 5 Aprll 2024 . continued 12 Debtors 2024 2023 Trad8 debtors Other debtor9 Pr8paymenls and accrued Income 11,491 16,498 10.004 10,805 37,307 12,064 23,555 13 Cr•dltors'. Amounts falllng due wlthln one year 2024 2023 Tradè credllo Accruals and deferred Incoma 4,319 24,621 28.940 10.110 28,404 38,514 14 Non4dJustlng post balance •h••t avonts A sile with tha b8n8fil cf outline planning pemission for a small r8sid8nllal development schem8 on land at Manor Farm. to the south of Weeton Road, has been marketed for sale by lender and conditional contracts for Ils sale to Lanlay Developmenls Ltd were exchanged in January 2024. Tlie sa.'e is conditional on a 8alisfactory full plannlng permlssion bèing obtainèd by Lanley together wth the Trustees approval to the proposed plans and the outcom6 of the application was awaited at ihe financial year end. 15 Ralated partles Controlllng entily The charily Is controlled by the trusleB8. Rèlated party transactlons Anne Rogerson {Trusteel is a partner in W Rogerson & Sons, tenants of Part Grang8 Fam7 and of Slnglelon Park. She doe5 not vote al any Trustees meetings on 8Dy matters which are related to those two area5 of land. Michael Smith (Trusleel rents a cotlage from the Trust. The tenancy of the cottage commenced prior to his appointment as a Trusleg. Keith Walker is a Governor of Singleton School and Alec Davies Is Chalr of the Governor5 al Singleton School. They do not votè al any Tru51ee Meetings on any mallers which are re181ed lo making loansldonations lo Singleton School. Sara Cholmondeley ITru5tee) is also a member of the Singleton and Thistleton Gala Committee. who the Tnjsl have made a contribution to in this financi81 yoar. Sara is nol involved in discussions regarding the level of financi81 contribution to be made. There are no related paty Iransactions involving any other trustees. Page 19
Richard Dumbreck's Singleton Trust Note5 to the Flnanclal Statements for the Year Ended 5 Aprll 2024 . Continued 16 Analysls of funds Other rèeognlsad galn$llos$es At 6 Aprll 2023 Incomlng re80urces Resources expended At 5Aprll 2024 Gèneral Fundg Unrestricted income fund 11,903,254 263.436 1197,374) 72,747 12,042.063 Pag8 20
Rlchard Dumbreck's Singleton Trust Notes to the Flnanclal Statements for the Year Ended 5 Aprll 2024 . continued Prior p•riod At 6 Aprll 2022 Incomlng resour¢e8 Rèsources exponded Other rocognised 9ainsllo8808 At 5 Aprll 2023 Genoral Fund8 Unr8stricted Incomè fund 10,843,744 277,479 1265,6251 1,047,656 11,903,254 17 Nel 4$8ots by fund Unrestrlctod Funds Total Fund• 2024 Tolal Funds 2023 T8ngible assets Investmanls Current assftls Creditors.. Amounts f8lllng due wthln one year Nel assets 3.271 11.860,033 207,69g 128,940) 12.042,063 3,271 11,880,033 207,699 128,940) 12,042,063 11,765.009 171,836 (38,514) 11.903,254 Prlor perlod Unr•strl¢tèd Funds Total Funds 2023 Total Funds 2022 Tangible assets Investments Current assets Creditors: Amounts f81I1ng due within one year Net ass8ts 4,923 11,765,009 171,836 138,5141 11.903.254 4,923 11,765,009 171,836 {38,5141 11.903,254 6.044 10,725.001 135,224 (22,525) 10,843,744 Page 21