THE J L YEARSLEY FAMILY FOUNDATION REPORT AND UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 Registered Charity Number.. 1111517 WRIGLEY PARTINGTOM Chartered Auntants Stsdlng House 501 Middl8ton Roacl Ghaddtrrton Oldham OL9 9LY
THE J L YEARSLEY FAMILY FOUNDATION CONTENTS Pa Tnjstees, Report Independenl Examiners Report Stalfymenl of Finanaal Activities Balan Sh&èl Slalemenl of Cash Flows Notes to the Flnancial Statements 8-11
THE J L YEARSLEY FAMILY FOUNDATION TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present thair Annual Rewjrt together wth th8 financial statemfynls of The J L Yearsley Famity Foundallon for the year ended 31 March 2023. dAd trative Inf ation nurn 1111517 alA Kingthorpe 18 Bury & RoeJ)d8le Old Road Bury Lancashire BL9 Trz sl The Iruslees setving during the year were.. J L Yearsley L Russell R l Nicholson Ind dent ex Paul Quinn BK Plus Limited Sterling House 501 Middleton Road Chadderton Oldham OL9 9LY ves Brown Shipley 3 Hardman Street Manchester M3 3HF Ban Brown Shiplèy 3 Hardman Street Manchester M3 3HF Stru ove nc an Mana Tha charity has been sel up as an unincorporated charitable trust and is governed by its trust deed. A board of trustees, who meet on a regular basis. administer the ¢h8rity. The charills investments are rnanaged by Brown Shipley. New Irusle¢s are appointed by a resolution of a meeting of the Iruslees and rnay b& appointed at any lime, provided that the lolal number of trustees does not exceed 4. There is no formal training provided for trustees bul they are advisèd Its read literature available from the Charity Commission and they are made aware of their genèral duties and responsibilities as part of the recruitment piocess and once they join the board and attend meetings. The charity has no personnel other Ihan the trustees and no remuneration is paid.
THE J L YEARSLEY FAMILY FOUNDATION TRUSTEES. ANNUAL REPORT FOR THE YEAR ENOED 31 MARCH 2023 ¢ontinugd Rlsk Man The trustees aeb'vely revi8w any major risks lch the charity faces on a regular basis and believe that th6 level ol reserves maintalned, combined with an annual review of the controls over key financi81 sysltsms, wll provide sufficient rèsources in the •v$nl of adverse ¢onditons. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the most significant risks. èeti Actlvltie8 Thè objectives of the ¢h8rity are to provide monies IowTds kncal charities, sports activitses and general worthy causes. The charity's ftjnds are mainly Invested in a portfolio of listed securities and in shares of its subsldiary company. The Iruslees inttrnd to make regular gifts lo suitable worthy causes OLrt of the ielum8 on Ihose tnveslmenls. During the year the charSly made donallons lo local and other charities amounting to 8 lolal of £6,608. In shaping our objectiv$$ for the year and planning our activities, the truste¥$ have considered the Charly Commission's guidance on public benefit. including the gvidance"publlc benefi't.. running a charity IP821". Achlèvèm Perform e and Flnan l Revlew The tharity's income during the year amounted to a lot81 of £776,109 12022.. £22,726), conslstlny of donations reIVed of £743,744. int6Tesl received of £12,297 and dlvidends received on listed inveslmenls of £20,068. Tha donalions received included a gift of £671.038 in the form of shares in Belfield Hall Oev*loprnent8 Ltd. now 8 subsidiary of thg charity. In addition. there was a profil of £233,050 on tho sale of listed securiiies. and an unreallsed loss of £380,491 on the revaluation of investments held 81 Ihe balance sheet date. The nel movem6nl in funds durSng the year was an increase of £609,996 {2022.' decrease of £21,8391 and the total funds ol the charity 31 the end of the year, all of whlch 8ie unrestricted, were £2,342,87412022.' £1.732.8781 Polle The reseeS of the charity, which are all unrestricted. are mostly held in a portfolio of listed $è¢urili&$ and in shares in its subsidiary company. The curronl intention is lo maintain the real capital value of Ihosè inveslmenls over the mediurn lerni and increase it throtjgh further donations received. to enable the objectives of the chaiity to be fundod out of the retums on those investments for many years. The lèvel of reserves al 31 Marth 2023 was £2.342,87412022'. £1,732.8781, which is consldered to be an ac¢eplabl8 level and is consistent wth the reservès polry.
THE J L YEARSLEY FAMILY FOUNDATION TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 ¢orrtlnued Plans for Futur iiods 11 is intended that the investment portfolio of listed securities will continue lo grow and that regular gifts lo suitable worthy causes will be made out of the returns on those investments. Trustee 'Re$ onslbilltles In olatlon to the Financial Sta ments Law appli¢abl@ to charilies in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the ¢hariVs financial activities during the year and of its financial position al the end of the year. In preparing those accounts. the Iruslees are required to.. select suitable a¢counling policies and apply them consistenuy; observe the methods and principles of the Charities SORP., make judgements and estimates that are reasonable and prudent., prepare the accounts on the going concern basis unless il is inappropriate to presume that the charity will continue in operation. The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity IAc¢ounts and Reports) Regulations 2008 and the provisions of the Iiusl deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the PventIon and detection of fraud and other irregularities. Com nce wlth Ac untln Standard8 The trustees confirm that the financial statements comply with the current statutory requirements, the Charities Act 2011, the provisions of the trust deed and the requirements of the Charities SORP IFRS 1021 D ¢laration The trustees declare that they have approved the Trustees. Report above. Signed on behalf of the Charity's Trustees earsley {Truste Date
THE J L YEARSLEY FAMILY FOUNDATION INDEPENDENT EXAMINeR'S REPORT TO THE TRUSTEES OF THE J L YEARSLEY FAMILY FOUNDATION I report lo the Iruslees on my examinalv)n of the aGcounts of t charity for tho year ended 31 March 2023 comprise the Slatemeni of Finuwal Araivities. thè B&c Sheel, and th8 rèbil noles. 08 and ba51 A5 the Iru8lees of th& charty you are respOnb for preparation of the accounts in accordance wllh Il requirernents of the ch8n1$ Act 2011 Act"). I reporl in ro$PO¢t of my examination of the charitys 8ccounl$ c4rried out und8r S&fAion 145 of the 2011 Act and in carrying Out my e¥aminats"on I ha folbwe(l aN the appllcable tlireGtions given by Ihe Charity Commlssion undar 68dion 14515llbl of the Act. t examing Since Ihe charily's gross income axceed&d £250.0(N) your examirr must be a member of 8 body listed in se¢lion 145 of Ih8 2011 Act. I confiTrn Ihal l am qu81ified to undertake If ex8minalK)n because l am a mèmber of the Ins"tUte of CharteTrd Aocountsnls In Ergland and W8les, which is 0 of the li%ied b(xJvas. I have completed tny examinalon. l ¢onfimi that no materbl mamers have come to my allenlivn in conneciion th examination giving me cause lo b8lwe that any m81&ri81 respect.. accOuntir ¥e¢ords re not k8pI In rg$pe¢t of Ihe charty 88 required by section 130 oflV Act." or the a¢counls do nol 8ccord Ihos6 records,. or the account$ do not compty wlh t applicable requtremenl$ tyJncerMg t form 8nd tthlent of accounls $01 ou¢ In the Charities (Accounts and RepDrtsl Regulatk)ns 2008 other than any requiTrmentthal the accounts gDie 8.lrue ond tsif v wthich is a matter consKlered 88 part of 8n independent ex8mln8tn. I ha no concorns and have coffle across no Other matters in conne10n wlh the ex8min8llon to whith allenlion shoukl be dr8¥m in this report kn order lo enable a propef understandiny of the accounts lo bè athed. Paul Qulnn FCA Forand on behalf ol BK Plus Limllgd ChaM¢r¢rt¢griifkd knuntI¢ Steding House 501 Middl8lon Road Chadderton Oldham OL9 gLY
THE J L YEARSLEY FAMILY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (includlng In¢ome and expend[[8 account) FOR THE YEAR ENDED 31 MARCH 2023 Unreslricted funds nrestricted funds 2023 2022 Not• INCOME Donations and legacies 743,744 1,924 Investment income 32.365 20,802 Total incoming resources 776,109 22,726 EXPENDITURE Charitsble activities Total resources exponded 18.672 37,141 18,672 Net incomSng resourees before other recogni$ed galns and losses 757,437 {14,415) OTHER RECOGNISED GAINS AND LOSSES: Gains and losses on investsnenl assets (147,441 } {7,4241 Nèt income and net movement in fund8 for the year 609,996 121,8391 Recon¢iliation of fvnds Total funds brought forward Total funds ¢arrled forniard 1732,878 2,342,874 1,754,717 1,732,878 The statement of financial aclivits'es includes all gains and losses in the year. All Income and expendlture derive from continuing aclivilies. The accompanying notes a an integral part of this stalemenl of financial activities.
THE J L YEARSLEY FAMILY FOUNDATION BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Nol¢ FIXED ASSETS Investments Total flxed assets 2,381,219 2 381219 1,641,267 1641 267 CURRENT ASSETS Debtors Cash al bank and in hand Total current assets 154,576 154,576 103,507 103,507 LIABILITIES Amounts falling due within one year 192,921 11,896 Net current assets 138,3451 91,611 Net assets 2,342,874 1,732,878 THE FUNDS OF THE CH Unrestricted funds Total charity funds 2,342,874 2.342 874 1,732,878 1,732,878 These accounts were approved by the board on.( >.3 ?H and signed on 115 behalf by= . Trustee Mr J L Yearsl The accompanying notes are an integral part of this balance sheet.
THE J L YEARSLEY FAMILY FOUNDATION STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2023 Note 2023 2022 Cash u59d in operatlng actlvltle8 11 235 059 Cash flows from investlng activitles In18rest in¢omg 12,297 6.448 Dividend income 20.068 14,354 Pur¢hase of fixed asset investments 12,274,729) 143,3021 Proceeds from fixed asset disposals 2,058,374 44,782 Cash provlded by (used In) Investlng activitles 183,990 22,282 Increasel(decreasel in cash and cash equlvalents in the year 51,069 {2,869) Cash and cash equivalents at the beginning of the year 103,507 106,376 Total cash and cash equivalents at the end of the year 154,576 103,507
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 UNTING POLICI 1.1 8a8 re aratlon of accounts The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and ReFX)rting by Charities preparing their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 and the Charrties Act 2011. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historic cost or transaction value unless otherwase slated in the relevant accounting policy nolelsl. 1.2 Income reco nltlon All income is recognised once the charity has entillemenl to the income, il is probable that the income will be received and the amount of income can be measured reliably. Donations are recognised once recoived. In the event that a donation is subject lo condib'ons that require a level of perf0rrnan before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilmenl of those condition5 IS wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reports'ng period. In¢oming resources from tax reclaims are recognised at the same time as the gift to which they relate. Investment income is recognised when receivable. Investment gains and losses includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value al the end of the period. 1.3 Ex nditure nition Liabilities are recognised as expenditure as soon as there is a legal or construclve obligation Committing the charity to that expenditure. il is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Govemance costs are those incurred in connection with the conslitulional and statutory requirements of the charity. Support costs include central functions and have boen allocated to acb'vity cost categories on a basis consistent wilh the use of resources.
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 TING POLICIES CONTINUED 1.4 Inv Investments quoted on a recognised Sto¢k Exchange are valued at market value at the year end. Investment in sha$ of subsidiary company are slated at historic cost less impairment. 1.5 Shortlerm debtors an ditors Debtors and creditors wlh no staled interest rate and receivable or payable wrthin one year are recorded al transaction price. Any losses arising from impairment a recognlsed in the Statement of Financial Activities as administrative ex$nSeS. 1.6 Cash and cash e ulvalenls Cash and cash equivalents comprise cash at bank and in hand. 1.7 Irrgcoverable VA Iirecoverable VAT is Charged against the ¢alegory of resources expended for which il was incurred. 1.8 Fund ac¢ountln Unreslricled funds comprise accumulated surpluses and deficits on general funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and that have not been designated for other purposes. Restricted funds are funds sublecl lo reslriclions imposed by the donor or by the specific terms of the appeal under which the funds are raised. 1.9 Assessment of oin concern The trustees nSider that there are no material uncertainties about the chanty's ability to continue as a going concern and the accounts have been drawn up on the going concern basis which assumes that the charity will continue in operation for the forseeable future.
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ¢ontlnu8d 2023 2022 21 In¢om• from dona and le cl•s Donation of shares in sub$Kli8ry cornpany (see not8 81 Donations from subsidiary cornp8ny 671.038 72.706 743.744 1.924 1,924 2023 2022 vèstm Interest rè¢gived Dividends 12,297 20,068 32,365 6,448 14,354 20.802 har lea Iv Don8110th6 13o¥ernanc• 2023 2022 Tot T4)1&1 Costs dir8¢Uy allocated to aotwits'8S'. Donatkjn 25.033 Support Costs.. Stod(brokers fees Legal fees Bank chaiges Independent examiners fees.. examinati ol accounts 9,888 78 9,8e8 78 11,040 78 2,100 12,(66 2,100 12.c6 12,108 Tothl R•soufeO8 Expended e,e( 51 Galns and I Inv•8 888 2023 2022 Profivoossl on sale of investrnents Profitlllossl results.ng from revalUatn to m8rket value 233,050 380,491 147.441 4.000 11.424 7,424 61 Ixèd a88 Inv•stmgnl6 Llstsdon Shwo$ In kllary Stock Ex¢hangfr Yotal orv At 1 April 2022 Addfrtions Dispo$81$ Revalu8b'on At 31 March 2023 1,e41,267 2,274,729 11.825,3241 380,491 1,710,181 1,641,287 2.945,767 11,825,324> 380,491 2,381,219 671.038 671038 10
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 contlnuod 2023 2022 Glft aid 2023 2022 8) Cash at Inh Cash at bank 103,507 2023 2022 one Amounts owed to subsidiary company Other creditors AcGruals 190,821 900 10,000 996 2,100 192.921 101 Relatod transac At 31 March 2023 there was an amount of £190,821 {2022'. £9001 outstanding to Belfield Hall Developments Ltd., a subsidiary company in which the Iruslees of the charity are directors. During the year donations amounting to £72,70612022.' nil) were reiVed from Belfield Hall Developments Ltd. Also during the year, donation5 amounting to a total of £671,03812022'. nil} were received from family members of the trustees. 2023 2022 concilia erdtin ofnfrtm Ivities nt in fund net ca Net movement in ftrnds Add back Iprofilllloss on disposal of investments Add back Iprofrtllloss on valUation of investments Deduct interest Income shown in investing activiti'es Deduct dividend income shown in investing actlvilie5 Deduct fixed asset Investment addltion received as a donation In¢aSe1{decre8Se) in creditors 609,996 {21.8391 1233,0501 {4.000) 380,491 11.424 112,2971 16,4481 120,068) 114,3541 1671,038) 181.025 235,059 10,066 25,151