John Huntingdon's Charity A company limited by guarantee Founded 1554 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11, Company Nurnber: 06045630 Charity Number: 1118574
John Huntlngdon's Charlty Trustees, Annual Report for the year ended 31 December 2024 Pale Trustees, Report Independent Auditors, Report Statement of Flnancial Actlvltles 13 Balance Sheet 14 Notes to the Financlal Statements 15 Administratlve Informatlon 25
John Huntlngdon's Charity Trustees, Annual Report for the year ended 31 December 2024 The Trustees of John Huntingdon's Charity Ithe Charity) present thelr annual report together with the audited flnancial statements of the charitable company forthe year ended 31 December 2024. The administrative information on pages 25 to 26 forms part of this report. Charity objectlves The objectives of John Huntingdon's Charlty IJHCI are to brlng relief either generally or to individual persons who are in conditions of need, hardship or distress, in particular but not exclusively, for the benefit of those who live, work and study in the Parish of Sawston and elsewhere locally. The Charlty achleves these objective5 by supportin8 Indlvlduals and famllles wlth advlce free of charge through the JHC Support Servlce 8iving housin rants to individuals and organ15atlons those m05t In need in our almshouses The Trustees have referred to the guldance In the Charlty Commlssion's general guldance on Public Beneflt when reviewing our aims and oblectlves and in planning the Charitws future activitles and believe that the activlties of the Charity clearly demonstrate a direct public benefit. Revlew of the year During 2024 the Charity continued to see the effects of increasing cost of living costs. In stark figures JHC has: seen 353 client5 thi5 year a5 opposed to 536 in 2023 given out 956 food bags- 954 In 2023 given out £71.102 in grants to individuals- £50,022 in 2023 and of that £15.080 was towards utlllty bills - £19,510 in 2023 2 famllles have moved on or given notlce- 10 in 2023 The flrst quarter of the year is always the busiest, posslbly due to the post-chrlstmas fall out, and the weather being colder which means people's utllity bills are higher. The top enquiry for clients contlnues to be grants followed by benefits and housin8. The Charity Is seeing a lot more elderly people, partlcularly over 80 years old. Thls age group Is In need of grants and help wlth other issues, mostly due to the withdrawal of the winter fuel allowance by the government. A dedicated Citizens Advlce debt adviser, funded by us, continues to see clients with debt Issues who are referred In by us. Relate have started to do face-to-face sessions from our offices a8ain, following remote only appointments during covid. In terms of organisational grant5 around £19.000 was distributed. the largest bein8 £5,500 to Shelford & Stapleford Youth Initiative {SSYII for help towards their work in Saw5ton,' Relate and Cogwheel also received grants of between £3,000- £4,500.
John Huntingdon's Charity Trustees, Annual Report for tha year ended 31 December 2024 The residents were happy with the decision to extend resident terms to 5 years for single people and couples, and to 10 years for families with dependent children. Thls provldes a feeling of certainty and security and has been positlvely received. The first phase completion of six two-bedroom properties concluded In April 2024. The new residents moved In towards the end of April 2024. The next phase of five one-bedroom properties are expected to be completed in October 2026. Cash donated to the charlty this year was almost £25,000, donations to the foodbank from local people, churches, schools, local businesses contlnue to be con515tent throughout the year, but partlcularly during the 3rd quarter which Includes harvest festival and Chrlstmas donatlons. Lookin8 forward The Charlty has Struggled to recrult a replacement for our Benefits advisor in 2024. Recruitment in this area of expertise 15 very hard and other partner organlsations Ilke Citizens Advice have also had similar experiences. An offer was made to an applicant In 2024, however they decided to withdraw thelr appllcation one week before the start date. Contingencles were made with existlng staff to continue operating as usual in 2024, however a long-term solutlon wa5 needed. A new staff member has now been recrulted and will start in March 2025. Flnancial Review JHC continues to be in the happy position of deriving almost all its income from its own assets. The net result for the year before gains on Investment5 was a 8ain of £57,39612023'.105s of £56,251). The stock market gain5 were significant for the year, leadlng to a galn on Investments of £486.032 compared to a gain in 2023 of £188,895. The proceeds from the sale of land received thls year have been invested in a mixture of low-risk short term assets and long-term assets untll requlred for the next phases of home purcha5e5 at the end of 2026 and 2027. Reserves pollcy Durlng the year, the Trustees, In accordance with the Charlty Commission's guidance (Charlty Commissioners Booklet CC19 'Charity Resetves,), reviewed its reserves and after assessing the potential threats and risk5 agreed that Its pollcy should be to malntaln suff Iclent Income reserves to ensure the continued avoidance of net current liabilities and to provlde sufficient Ilquld resources to meet both revenue and capital needs. Unrestricted General Reserve The Charity 15 fortunate that well over 90% of the income is known In advance, coming from weeklv maintenance charges, agreed rental Income from other properties it owns, and the income drawn from the portfolio. This money is received monthly or quarterlv.
John Huntingdon's Charity Trustees, Annual Report for the yèar ended 31 December 2024 The Trustees review the general reserve policy regularly: though unlikely because of the predictable nature of the charity income, if there were a temporary shortfall in cashflow the Trustees consider it important to be able to pay the staff on time in order to continue core activities. For this reason, the Trustees have determined to establish an unrestricted reserve to cover as a mlnimum at least three months personnel costs, currently £40,680. At 31 Detember 2024 the balance on the general reserve was £191,44512023: £93,416), The level of the general reserve is kept under review. The Charity has set aside a number of deslgnated funds.. Capltal reseNe'. the Charity was set up In 1554 wlth the gift of land whSch has never been valued in the accounts. The Trustees malntain a policy of holding a capltal reserve whlch broadly ref lects the current fair value of flxed assets. Parts of the orlgSnal land donated by glft have been sold and the proceeds reinvested in new a55et5 which are represented by the current holdings of land, building5 and investments. Therefore, although not an endowment the Trv5tees hold these assets mindful of thelr duty to meet the needs of future beneficiarles a5 well as the present ones. The balance on the reserve at the year end, whlch accounts for 97% of the total reserves, was £16,630,148 (2023: £16,136,085). Charitable Projects Fund £35,00012023.. £35,000): In order to enable the Trustees to respond to project5 of which they become aware and wish to support, but which were not included in the annual budget, the Trustees set aside any underspend on the grants to individuals, budget. Cycllcal Malntenance Fund £122,65412023: £117,468) and Mordante House Repalrs Fund £39,593 12023.. £53,073): each year the Trustees set aslde funds from property income to ensure the Almshouses and Mordante House are well maintalned. The level of the annual transfer Is in line with the Almshouse Association recommendations. Mordante House had new fire doors installed In 2024 and a new asbestos survey. Extraordlnary Repalrs Fund £28,91312023'. £35.232}: In line with recommended good practice the Trustees set aside funds to meet extraordlnary repairs to the Almshouses, transferrlng to the fund amounts in line with those recommended by the Almshouse Association. One boiler wa5 replaced at Lenten House and another at john's Acre. There are two restrlcted funds: Splcer Fund £7,87512023- £11,656).. JHC took over the assets of the Splcer Charity on Its closure; it uses the Income generated from the fund's Investment for Indlvidual grants for child welfare, in Ilne with the original Splcer Charlty objectives. Other restrlcted income: donations given for specific purposes such a5 the food bank. ThSs year the Charity also received grants to support clients from some surrounding parishes. The balance remaining at the end of the year was £8,89112023: £7.8751. Post balance Sheet event: Following a fire at 7 Joyce's Close in November 2024, a tender for repair c05t5 was finalised on 30th January 2025. The Trustees agreed to award the repairto HHS at an estlmated c05t of£69,859.03. This cost is not accrued in 2024 as it w35 not known at the time, and it will be covered by JHC'S insurance in full with the exception of VAT. Overall the Impact is small, in the region of up to £14,000 to cover the VAT element.
John Huntingdon's Charlty Trustees, Annual Report for the year ended 31 December 2024 Investment Performance and poll¢y The Trustees have adopted a total returns policy, drawing a regular fixed amount from the portfollo which in 2024 represented 1.52% of the total value of the portfolio; the Trustees have sought and received assurances from Rathbones that thls level of total return is sustainable in the present economlc cllmate. As the Trustees rely on income from the investments, performance of the portfolio is monitored closely, particularly In the current economic climate. In order to further stabilise Income. the Trustees have adopted a total return approach to their investments and have agreed an annual income which wlll be drawn from the portfolio and recelved in monthly instalments. The Fund Manager5, Rathbones, have been given dlscretionary powers but work wlthln the Charity's ethical Investment policy which is reviewed annually. Currently the Trustees of JHC do not Wish to have any direct investment In companies whlch offer pay day loans at punitive rates of interest. The Fund Managers meet with the Trustees at least twice a year to review the Investment pollcy, draw down level and to compare the portfollo performance against the benchmark ranges and the Trustees, long term target of achievlng CPI plus 3% 8rowth net of costs over the long term. Golng Concern The Charlty Is fortunate to be able to live wlthin its means, spending income from Its own resources and not belng reliant on external grants or contracts. The Trustees are mindful of thelr need to ensure the Charity thrive5 and is in existence to meet the needs of future beneficiaries. For thls they have a time frame considerably more than 12 months. The Trustees have considered posslble events or conditions that mlght cast slgnificant doubt on the billty of the Charlty to contlnue as a goin8 concern. The Trustee5 have made this assessment for a period of at least one year from the date of approval of these flnancial statements. In partlcular, the Trustees have consldered the Charity's forecasts and projectlons and have taken account of pressures on Investments. After maklng enqulries the Trustees have concluded that, glven the current value of the portfollo and the fact that over 90% of annual income is generated by assets owned by the Charlty, there is a reasonable expectatlon that the Charlty has adequate resources to continue in operation for the foreseeable future. The Charity therefore continues to adopt the going concern basis In preparing these financSal statements, Rlsk Revlew The Trustees have conducted their own review of the major risks, financlal, physlcal and operational to whlch the Charity Is exposed and systems have if necessary been modified to mltigate those risks. Procedures have been put in place to minimise both external and Internal risks and these procedures are reviewed annually to ensure that they still meet the needs of the Charity. Once again the Trustees believe the overriding financial risk thi5 year is the potential loss in value of the investment portfolio and the Income it generates on which the Charlty relies so heavily and the need for the best possible investment advice In a volatile world.
John Huntlngdon's Charity Trustees, Annual Report for the year ended 31 December 2024 Remuneration policy The Charity has adopted a remuneration policy whlch: ensure5 dellvery of the Charit¢5 objectives retain5 a motlvated workforce wlth the Skill and expertise nece55ary for Charity effectivene55 Is equitable and coherent tskes account of the purposes, aSm5 and values of the Charlty ensures that pay levels and pay increases are appropriate In the context of the interests of the Charity beneflclarles Remuneratlon forthe year ended 31 December 2024 comprlsed of salary and penslon contributlons, Salaries are reviewed each year In the first quarter by the Governance and HR hub which makes recommendation5 for any increases to the full Board for Implementatlon in Aprll. Structure. Governance and Management The organlsation is a charitable company limlted by guarantee incorporated In England and Wales, on 9th January 2007 and reglstered as a Charlty wlth the Charlty Commlsslon on 28, March 2007. The Company was establlshed under a Memorandum of A550clatlon which established the objects and powers of the charltable company and Is governed under It5 Artlcles ofAssoclatlon, amended by speclal resolution on 16 July 2012. The current organ15ation replaces the Driglnal Charity by the same name whlch dates back to fts origins In 1554, taklng over the assets and Ilabilities of the original Charity on l April 2007. Trustees- recrultment and tralnlng All Trustees have a strong Saw5ton connectlon: at any time the number of Trustees must be not less than slx but no more than eleven. One Trustee, the Vlcar of the Parlsh of Sawston Is ex offlclo. One Trustee place Is reserved for the appolntment of a Trustee selected from nominatlons made by the Parish Council. The remainin8 Trustees are recruited by publlcatlon of vacancles, followed by pplication and interview. With the exceptlon ofthe Vicar whose appointment is the same as the len8th ofofflce in the parish, Trustees serve for a perlod of 5 years, with an option to serve for a further 5 years. At the end of ten years they must stsnd down for at least a year. The Charity has taken out Indemnity Insurance and this provislon covers all the Trustees of the Charity, includlng those who have reslgned in the year. Each new Trustee is glven an Inductlon pack and an Indlvldual introductory 5esslon. Trustees are encouraged to attend approprlate training. All Trustees are expected to abide by the Code of Conduct whlch sets out Trustees, responsibilities to the Charlty.
John Huntlngdon's Charity Trustees, Annual Report for the year ended 31 December 2024 Governance and management As well as six full Trustee meetings per year, the Trustees meet in a series of 5 hubs: Finance. Grant Giving. Advice SeNices, Governance & Human Resources and Property & Land. These hubs have some delegated powers through agreed terms of reference and consist of Trustees and staff. Hub minutes are reported to the full trustee body which meets no fewer than six times per year. The day-to-day Charity management Ss delegated to senior staff. Statement of Trustees, Responslbilftles The Trustees (who are also directors of John Huntingdon's Charity for the purposes of company lawl are responsible for preparlng the Trustees, Report and the flnancial statements In accordance with appllcable law and United Kingdom Accountlng Standards (United Klngdom Generally Accepted Accounting Practice). Company law requires Trustees to prepare financlal statements for each financlal year whlch give true and fair view of the state of the affairs of the charltable company and of the Incoming resources and applicatlon of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: select sultable accountlng pollties and then apply them conslstently observe the methods and principle5 In the Charitie5 SORP IFRS 1021 make judgements and estimate5 that are reasonable and prudent state whether appllcable UK Accountlng Standards have been followed, subject to any material departures disclosed and explained In the flnanclal statements prepare the financial statements on the goln8 concern basls unless it is inapproprlate to presume that the charltable company wlll continue In buslness The Trustees are responsible for keepln8 proper accountlng records that dlsclose with reasonable accuracy at any time the financlal position of the charitable company and enable them to ensure that the financial Statements comply with the Companies Att 2006. They are a150 responslble for safeguarding the assets of the charitable company and hence for taking reasonable Steps for the prevention and detection of fraud and other Irregularitles. In so far a5 the Trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware,. and the Trustees have taken all steps that they ought to have taken to Make themselves aware of any relevant audit Information and to establish that the audltor is aware of that information.
John Huntlngdon's Charity Trustees, Annual Report for the year ènded 31 December 2024 The Trustees are responslble for the maintenance and integrity of the corporate and financial information included in the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of the financial Statements may differ from legislation In other jurisdiction5. Thls report has been prepared in accordance with the special provislons of Part 15 of the Companies Act 2006 relating to small companies, Slgned on behalf of the Trustees Sandra Davldson, Chalr 17th March 2025
Independent Auditors, Report to the Members of John Huntingdon's Charity Opinion We have audited the financial statements of John Huntingdon's Charity for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financlal Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Actounting Practice). In our opinion the flnancial statements.. give a true and fair view of the charitable company's stste of affairs as at 31 December 2024 and of its incomlng resources and appllcatlon of resources, Sncludln8 Its income and expenditure, for the year then ended; have been properly prepared In accordance with Unlted Klngdom Generally Accepted Accounting Practice; and have been prepared In accordance with the Companles Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUK}l and applicable law. Our respon5ibilltles under those standards are further described in the Auditorfs responsibilitie5 for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audit evidence we have obtained is sufflclent and appropriate to provide a basis for our opinion. Conclusion5 relatlng to golng concern In auditing the f inancial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparatlon of the financial statements is appropriate. Based on the work we have performed, we have not identified any materlal uncertalntles relating to events or conditions that, Individually or collectively, may cast signlficant doubt on the charltable company's ablllty to continue as a going conrn for a perlod of at least twelve months from when the financial statements are authorised for Issue. Our responsibilities and the re5pon5ibilities of the trustees Wlth respect to going concern are descrlbed in the relevant sections of this report. Other Informatlon The other Information comprises the information included in the annual report. other than the flnancial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial Statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility IS to read the other information and. in doing so, consider whether the other information is materlally inconsistent with the financial statements or our knowledge obtained in the course of the audit or othemise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are required to determine whether this gives rise to a material mi5Statement in the financial statements themselve5.
Independent Auditors. Report to the Members of John Huntlngdon's Charity (continued If, based on the work we have perfonned, we conclude that there is a material mlsststement of this other informatlon we are required to report that fae(. We have nothing to report in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinlon, based on the work undertaken in the tourse ofthe audlt: the informatlon glven In the Trustees, Annual Report whlch Includes the Dlrectors, Report for the financlal year for which the financSal statements are prepared Is consistent with the flnanclal statements; and the Trustees, Annual Report which Includes the Dlrectors, Report has been prepared In accordance with applicable legal requlrements. Matters on whlch we are requlred to report by exceptlon In the 118ht of the knowledge and understandlng of the charltable company and its environment obtained In the course of the audit, we have not Identlfled rnaterlal misstatements In the Trustees, Annual Report. We have nothlngto report In respectofthefollowin8 matterswherethe CompaniesAct 2006 requires us to report to you If, in our oplnion: adequate accountlng records have not been kept, or returns adequate for our audit have not been recelved from branches not vislted by u5; or the flnancial statements are not In agreement wlth the accountlng records and returns; or certaln disclosures of trustees, remuneration specified by law are not made; or we have not received all the informatlon and explanatlons we require for our audlt the trustees were not entitled to prepare the flnancial statements in accordance with the small companie5 regime and to take advantage of the small companles exemptlon in preparlng the Trustee, Annual Report and the Strategic Report. Responslbllltles of trustees As explained more fully In the Trustees, Responslbllltles Statement set out on page 7, the trustees {who are also dlrectors of the charltable company for the purposes of company lawl are responslble for the preparation of the flnancial statements and for bein8 satlsfied that they give a true and falr view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statement5 that are free from material misstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responsible for assessing the charbtable company's ability to continue as a 8oin8 concern. disclosing, as applicable. matters related to golng concern and using the 80ing concern basis of accounting unless the trustees either Intend to liquidate the charitable company or to cease operations. or have no realistic alternatlve to do so. Audltorfs responsibilities for the audft of the financial statements We have been appointed as audltors under the Companies Art 2006 and report in accordance with regulations made under that Act. 10
Independent Auditors, Report to the Members of John Huntingdon's Charity (contlnued) Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audltorfs report that includes our oplnlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI wlll always detect a materlal mlsstatement when it exists. Mlsstatements can arise from fraud or error and are considered material if, Indlvldually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these finanaal statements. Irregularities, includlng fraud, are Instances of non%ompllance withlaws and regulatlons. We deslgn procedures in line with our responsibilities, outlined above, to detect material mlsstatements in respect of irregularities, includlng fraud. The specific procedures for thi5 engagement and the extent to which these are capable of detectlng irregularltles, including fraud are detailed below. Identifylng and assesslng risks related to Irregularltles: We 355essed the su5ceptibSllty of the charitable company's flnanclal statements to materlal mlsstatement and how fraud might occur, includlng through dlscussions wlth the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these contro15 operated as intended. We evaluated posslble Incentlves and opportunities for fraudulent manipulation of the financial statements. We Identified law5 and re8ulations that are of 51gnificance in the context of the charitable company by dlscussions wlth trustees and updatln8 our understandlng of the sector in whlch the charitable company operates. Laws and regulatlons of dlrect significance in the context of the charitable company include The Companies Att 2006, and guldance issued by the Charity Commlsslon for England and Wales . Audbt response to risks identifled: We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financlal statement items includlng a revlew of financlal statement dlsclosures. We reviewed the charitable company's records of breaches of laws and gulatIOnS, mlnutes of meetlngs and correspondence with relevant authorities to identlfy potential material m15Statements arfslng. We discussed the charitable companws pollcles and procedures for compllance wlth law5 and regulatlons wlth members of management responsible for compllance. During the plannlng meeting with the audlt team, the engagement partner drew attentlon to the key areas which might Involve non-compliance wlth laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance wlth laws and re8ulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management overrlde of controls by testing the appropriateness of journal entries and Identlfylng any significant transactions that were unusual or outside the normal course of busine55. We assessed whether Judgements made In makln8 atcounting estlmates gave rise to a possible indication of management blas. At the completion stage of the audlt, the engagement partnerfs review Included ensuring that the team had approached their work wlth appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitatlons in the audit procedures described above and the further removed non- compliance with law5 and regulations Is from the events and transactions reflected in the financial statements, the less Ilkely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detectlng one resulting from error, a5 fraud may involve deliberate concealment by, for example, forgery or intentlonal misrepresentations, or through collusion. A further descrlption of our responslbllltie5 15 available on the Flnancial Reporting Councll's webslte at: www.frc.or auditorsres onsibilitles. Thls description forms part of our auditorfs report.
Independent Auditors, Report to the Members of John Huntlngdon's Charlty (continued) Use of our report This report is made solely to the charltable companvs members, as a body, in accordance with Chapter3 ofPart 16 of the Companle5 Act 2006. Our audit work ha5 been undertaken so that we might state to the charltable company's members those matter5 we are required to State to them in an auditof s report and for no other purpose. Tothe fullest extent permitted by law, we do not accept or assume re5ponslbllity to anyone other than the charitable company and the charitable companW5 members as a body, for our audlt work. for this report, or for the oplnlons we have formed. Gareth Norris FCA (Senior Statutory Auditor) for and on behalf of Saffery LLP Westpolnt Peterborou8h Buslness Park Lynch Wood Peterborough PE2 6F2 Chartered Accountant5 Statutory Audltors Date: l F,1, Saffery LLP 15 eligible to act as an audltor in terms of sectlon 1212 of the Companie5 Act 2006 12
John Huntlngdon's Charity Statement of Financlal Aetlvltlès {incorporatlng an Income & Expendlture Account) For the year endèd 31 December 2024 Unrastrlcted Restrlcted Fund5 Funds 2024 2024 Total Funds 2024 Unrèstrlctod Restrlcted Funds Fund5 2023 2023 Total Funds 2023 Noles In¢om• from Donations & grants 2 Charitable actlvlties 3 Other aclivities 4 Investments 5 Other 6 37,293 261,379 81,976 284,529 12,636 31,574 68.867 261,379 81,976 284.973 12,636 29,983 211,021 79,016 256,255 8,379 22,790 52, 773 211,021 79,016 256,693 8,3T9 444 438 Total Income 677,813 32,018 7iYa,831 584,654 23.228 607,882 Exp•ndlture on Raising funds 7 Charitable actlvltlos: Housing Advlce Services 47,243 47.243 44,495 44.495 256,137 185,492 128,420 256,137 220,635 128,420 295,911 167,209 730,485 295,911 193,242 130,485 35,143 26,032 Grant givlng Cost of Charitable activities 15 570,049 35,143 605,192 593,605 26,032 619.638 Total expendlture 617,292 35,143 652,435 638, 100 26,032 664, 133 Net Iloss}Igain before gains on investments Net Ilossvgain on Inv8Stmenls 60,521 (3,125) 57.396 (53,447) (2,804) (56,251) 12 485,672 360 486,032 187,532 1.363 188,895 Net Ilossygain on investment land Investment property revaluation {lossllgain Net In¢omel{loss) for the year 13 36 36 44 44 17 31,250 31.250 131.250 131.250 577,479 (2,765) 574,714 265,379 (1,441) 263,938 Balane88 at 1 January 16,470,274 19,531 16,489,805 16,204,894 20.972 16,225.866 BalanrAS at 31 December 17 047 753 16 766 17 064 519 16470 274 16 489 805 All amounts relate to continuing activities. There were no récognised gains or losses other than those included above. The notes on pages 15 to 26 form a part of these flnancial statements. 13
John Huntingdon's Charity Balance Sheet as at 31 December 2024 Unrestricied Restrictod Funds Funds 2024 2024 Total Funds 2024 Unrestrlcted Restricted Funds Funds 2023 2023 Total Funds 2023 Notes Flxod Assèts Tangible fixed assets 16 3,681,800 Investments 17 12,902,194 16,583,994 3,681,800 7,875 12,910,069 7,875 16.591,869 2.438,325 11.576,642 14,014,967 2,438.325 11,588,298 14,026,623 11.656 11,656 Currant Assets Debtors 18 Cash at bank and in hand 412,641 125,925 412,641 134,816 547,457 2,423,381 110.964 2,534,345 2.423,381 118.839 2,542,220 8,891 8,891 7,875 7.875 538,566 Credltors: amounts falllng due wlthin one 19 year (74.8071 { 74,807} {79,038) (79,038) Not current assats 463,759 8,891 472,650 2,455,307 7,875 2,463, 182 Total Net Assets 17,047,753 16,766 17,064,519 16,470,274 19,531 16,489.805 Fund8 General reserve Deslgnated funds Total unrestrlcted funds 191,445 16,856,308 17,047,753 191,445 16 856,308 17,047,753 93,416 16,376,858 16,470,274 93,416 16,376,858 16,470,274 Restricted funds 16,766 16.766 19,531 22 17,047,753 16,766 17,064,519 16,470.274 19,531 16,489,805 These accounts have been prepared in accordance wllh the special provlsions of Part 15 of the Companies Acl 2006 relating to small companles and in accordance with the Financial Reporting Standard 102. Approved by the Trustèes, and aulhorlsed for issue, on 17th March 2025. Compsny number 0604563 San ra Davidson (Chalr) or lapp Davld Baslington Tom Butler Reg Cullum Iger Grundel o9r...l....knth.L.... Chris Ingha Sue Reynolds Susan Snape The notes on pages 15 to 26 fomi a part of these financlal statements. Kathryn Waite 14
John Huntingdon's Charity Notes to the Financial Statements For the year endod 31 December 2024 counting Pollclas Bas1$ of preparatlon These financial statement5 are prepared on a golng concem basis, as modified by the revauation of investments, under the historlcal cost wnventlon. The financlal statements have been prepared in accordance wlth Accountlng and Reporting by Charltles.. Statement of Recommended Practice applicable to charities preparing their a¢counts in accordance with the Flnancial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) {Charities SORP (FRS 102)), the Flnancial Reporting Standard applicable In the UK and Republlc of Ireland (FRS1021. the Charitles Act 2011 and the Companles Act 21106. Consistent accounting standards have been applied In preparation of these Financlal Statements. The disclosure requlrements of sectlon 1A of FRS 102 have been appll6d other than wherè additional dlsclosure Is required to show a true and fair view. The Charity constitut8s a publlc benefit entlty as defined by FRS 102. Th8 presentation currency Is the Brlllsh £. Golng Conc•rn The trustees have consldered posslble events or conditlons that mlghl casl slgnlficant doubt on the ability of the Charity to conllnue as a going concem. The trustees have made thi5 assessment for a period of at least one year from the date of approval of these financial statements. In particular, the trustees have considered the Charity's forecast and projections and have taken account of pressures on Investment5. After maklng enquiries the trustees have concluded Ihal therels a reasonable expectation that the Charlty has adequate resources to conlSnue in operalion for th8 foreseeabl8 future. The Charlty Iherefor8 contlnues to adopt the going ¢oncern basls In preparlng Ihese financial statements. Crftl¢al a¢countlng estlmateg and areas of Judgomenl Th8 preparallon of the fin8nclal statements requires the trustees and management to make signlflcant judgements and estlm8t8s. The items In Ihe financlal statements where such Judgements and estimates have been made Include estlmating the useful economic life of fixed assets an average value per item of donallons made lo the food bank Cash at bank and In hand Cash at bank and In hand is tsken to méan cash and short term hlghly liquid investment deposits wlth a maturity date of three months or less. 15
John Huntingdon's Charity Notss to the Financial Statsments For the year ended 31 Docember 2024 2 Donatlons and grants Accountlng policy: Donatlons are Included gross In the SOFA when the Charity Is entitled to the income and has received the cash into its bank account and the value is thus measured reliably. Donations are treated as unréstrfct8d unless they are specifically restricted by the donor. Income from grants Is recognised gross when nolificatlon of approval is recelved and treated as unrestricted unless thèy are specrfically restricted by the donor. Gifts In kind are donations to the food bank. A conservatlve average cost of 97p per item12023 - 95p per item) has been used to estlmate the value of the food donated. An equlvalenl expenditure Is Included in charitable aclivlties (see note 15). 2024 2023 donations grants from other charlties gifts In kind 24,873 34.900 9,094 68,867 15,401 24,900 12.472 52,773 3 Income from charltable actlvlties Accountlng pollcy- Incoming resources from residents, contributions is included gross when It is due. 2024 2023 resldents. conlrlbutions 261,379 211021 4 Income from other actlvltles Accountlng pollcy- rental income from commerclal properUes and land holdings is included gross when due. ngt of VAT where relevant. 2024 2023 commercial rent r8¢elved 79,016 5 Investments Accountlng poll¢y.' bank Interest. income from unquoted funds & dlvldends recelvèd from the investment portfolio aré included gross when r8celved. 2024 2023 bank Interest income from unquoted funds portfollo dividend income received 3,591 1,170 280.212 284,973 2,343 1,119 253,231 256,693 16
John Huntlngdon's Charlty Notes to the Flnancial Statements For the year ended 31 Decèmber 2024 6 Other Income Accountlng pollcy.. income from so18r panel tarSffs is included as incom8 when due, net of any VAT. 2024 2023 feed-ln tariff other Income 12,636 5,311 3,068 8,379 12,636 7 Raislng funds Accounllng policy: axpendllure on raislng funds con81sts of investment management costs as incurred. 2024 2023 Investment managerfs fe8 44,495 8 Staff Costs and remuneratlon of key managemont personnel Accountlng pollcy.. The Charlty contributes to the personal pension pollcies of employees. Its ¢ommitment to th&s8 defined contrlbullon schemes is Ilmited to the contributions payable, whlch are accountad for as expenditure in the year in whlch they are Incurred. 2024 2023 Staff Costs- Wages and salaries Soclal s8curily other pension costs 142.234 7,950 12,537 162 721 141,590 7,871 13,821 163 282 The Charity considers its key management personnel comprise the trustees and the Charity Manag8r. The total employment beneflts including amployer penslon contrlbutlons of the key management personnel were £34,548 (2023.. £33,930). 2024 2023 Average number of employees No member of staff wa$ pald a salary in 6xcess of £60,000 (2023: nll}. Thè above number5 do not includ& Truslees who are nol permltted to r8c8lve remuneratlon for thelr duties. No Trustee was Trimbursed travel exp8n$es Incurred on Charfty buslness (2023: nll). 9 Net Income 2024 2023 Thls is stsled after charging.. Depreciatlon Auditors, remuneralion 69,814 13,664 69,814 12.300 10 Trustee Indemnity Insuranco During the year the charity paid £80612023: £767) for Trustee indemnlty Insurance. 17
John Huntingdon's Charlty Notes to the Flnancial Slatemonts For the year endèd 31 December 2024 11 Grant glvlng Accountlng policy- Grants expenditure must fall wlthln the chariiable objects and is allocated at the discretion of the Trustees. Expenditure is accounted for when the offer Is conveyed to the recipiènt. Grants from restrict funds are reported under grants to indlvlduals. 2024 2023 Grants to Organlsatlons of £1.000 and over Active with Parklnsons Bellbird C8ntre 33 Cogwhe61 Footprints cafe Itd Homeslart Ickni8ld School Jlgsaw Relate Sawston Youth Group ssyi 1,000 1,500 4,092 1,500 7,500 3,500 1,200 1,288 3,000 1,500 4.500 29,580 4,092 1,300 2,350 1,790 3.150 5,500 19,182 Small grants Grants to indivlduals Community 71,102 7,550 50,022 5,301 55,323 84,903 97,334 12 Nel galns on Investments Accounting pollcy.. all gains and Ioss8S 8re taken to the SOFA as they arise. Reallsed g8lns and losses on tha dlsposal of investments are calculated as the difference been sales proceeds and the openlng market Value or the purchase cost If bought in Ihls financial year. Unreallsed galns and losses are calculated as th8 dlff8r8nc8 beeen thé market value at the year end and Iheir carrying value. 2024 2023 reallsed gainsll losses) unrealised gains exchange rat8 dlfference 150,853 336,989 1,810 486 032 {90,416) 281,887 2.576 188 895 13 Nel galn on Inv05tment land In 2022 the Charity completed the sale of the Charity's land on Babraham Road for a total sum of £6,198,652, to be received In 3 annual instalments, £2,290,726 received In September 2022. £1,953,963 in September 2023 and £1,953.963 In September 2024. The land formed part of the original bequèst of 1554 and has never been valued in the accounts as stated in note 16. During 2023 the charlty has received £44 interest galned on the proceeds received in Septgmber 2023 (tranche 2). In 2024 the charity has recelv8d £36 inlerest gained on the proceeds received in September 2024 (tranche 3, final payment). 18
John Huntingdon's Charity Notes to Iho Financial Stalemonts For the year ended 31 Docember 2024 14 Related Parties During the year trustees made donations totslllng £600 to the charfty (2023: £600 glven by two Trustees). 15 Charltable adlvltios costs Accountlng pollcy: Resources expended are recognised in the period In which they are Incurred and include Irrecov8rable VAT where appllcable. Resource5 are allocated to the partlcular actlvlly where the cost relates dlrectly to an activity. Salary costs are allocated on the basis of hours worked. Support and governance costs are allocated based on an estlmate of staff time. Advlce Servlces 2024 Total Year to 31 December 2024 Houslng Grant Glvlng Costs dlroctly allocaled to activities Grants over £1.000 Smaller grants Property Malntènance Personnél cosls Training food bank glfts in klnd Supptsrt ¢osls allocated to actlvltles Professlonal fees Insurance Irreeoverable VAT Office admin costs IT costs 19,182 7,550 19,182 78,652 213,208 189,690 2,307 71,102 213,208 26,442 322 96.108 1.168 9.094 67,141 817 7,555 2,866 7,555 20,562 23,737 16,268 11,238 10,418 11,868 8,242 5,694 7,278 11,869 5,758 3,978 2,268 1,566 Govgrnance costs Audlt & other financa cost8 1,910 256.137 6,941 220,635 4,848 128,420 13,699 605,192 Advice Seryices 2023 Total Year to 31 Decemb8r 2023 Houslng Grant Giving Costs dlrnctly •llocated to actlvltle* Grants over £1,000 Smaller grants Property Malntenance Personnel costs Training lood bank glfts in kind Support costs allo¢atad to actfvitles Professlonal fe88 Insurance InBcoverable VA T Office 8dmin costs IT costs 29,580 5,301 29,580 55,323 236,034 192,394 240 12,472 50,022 236,034 27,138 34 96,642 120 12.472 68,614 86 25,848 1,755 25,848 Y2.442 19,130 16,076 7,705 6,250 9,564 8.075 3.871 4,437 9,565 5, 733 2, 748 2,268 1,086 Governance costs Audit & other finance costs 1,748 295911 6,226 193 242 4,421 130 485 12,395 619 638 19
John Huntingdon's Charlty Notes to the Financial Statèments For the year ènded 31 December 2024 16 Tangiblo Flxed Ass•ts Accounting pollcy- Expenditure in excess of £2,000 resulting in a tanglble fixed asset is capilallsed. Assets are reviewed for Impalrment if circumstances dlctate that their caWng value mlght gxceed their net reallsable value. Depreciatlon Is provided to writs off the cost of tangib18 fixed assets over their estimated useful liv8s. on a straight line basis over th8 number of years from the year of acquisition as below. Buildings 30 to 60 years Solar panels 20 years {Included in Land & Bulldings) Office Equipment 4 years Land & Bulldings offl Equlpment TOTAL Costs As at 1 January 2024 3,460,393 Additions 1,309,014 15,025 3,475,418 1,313,289 4,275 Dl8posals As at 31 December 2024 4,769,407 (3.216> 16,084 { 3,216) 4,785,491 Depreciatlon As at 1 January 2024 1,022,068 Charge for year 69,814 Dlsposals 15,025 1,037,093 69,814 13,216) (3.216) As at 31 De¢8mber 2024 1,091,882 11,809 1,103,691 NBV at 31 December 2024 3.677.525 4,275 3.681,800 NBV at 31 December 2023 2,438,325 2,438,325 A gift of land In the parlgh of Sawston was made lo the Charity by Its Founder in 1554 and no records exlst as to the value of the gift at that time. No value is therefore attributed to this land in the financial statemenls. As John's Acre and Joyce's Close stand on parts of the gifted land the cost value of aach of these buildlngs comprises construction costs only. 20
John Huntingdon's Charfty Notes to the Flnanclal Statsments For the year ended 31 December 2024 17 Fixed Asset Investments Accounting pollcy.. Investments are a form of basic financial instrument and are initially recognlsed at their transaction value and subsequently measured at their market valu8 as at th8 balance sheet date using the quoted market price. The SOFA includes the net gains and losses arising on revaluatlon and disposal Ihroughoul Ihe year (see note 12). The Charfty d09s not auIre put options, derlvatives or other complex instruments. The Nursery is consldered to be held as a ftxed as58t Investment property. 15 Stated at market value and Is not depreci81ed. The Trustees, taking professional 8dvice, valued the prop8rty at 26 November 2021 at Ih8ir best estimate of market value using a calculation whlch is based on rental incoma. The Nursery was revalued in 2024 based on the s8me princlples, updated for 2024 rantal income. The Twstees have no reason to believe th8 discount rate used for th8 valuatlon would havè changed materially. subsequently. 2024 2023 Invèstment property Openlng value Revaluation Mark8t V81ue at 31 Dec8mber 806,250 31,250 675,000 131,250 806,250 837,500 Portfollo held wlth inveslmenl managar Opening valu9 9,015.536 Addillons 81 cost 4.535,193 Dlsposals at carrylng value (2,978,563) Unreallsed gainsl on revaluallon 271,771 Market Value at 31 December 10,843,936 Cash 959.218 Total value at 31 December 11803 154 7,998,030 3,642,248 12,683,543) 58.801 9,015,536 1,515,552 10531088 2024 2023 UK equltles Fixed interest Overseas equllles Other Cash held wlthln the portfollo 1,606,436 2.868,612 5,386.642 982.246 959,218 11803 154 1,482,148 1,610,616 4,692,152 1,230,620 1,515,552 10531088 Other quotod Invostmenl Funds Opening value Capilalised Income Unreallsed (loss}Igaln on revalualion Market value at 31 December 250,960 4,374 14,081 269,415 23fj,530 5,745 8,685 250,960 Total valuation al 31 December Total cost at 31 December 12 910 069 10028558 11588298 8 457 063 The short-term Rathbones Investment fund included one Investm8nt representing more than 5 /0 of the markel value of the portfolio at year end. This was a 'High Quality Bond, valued at £1.85M at year end which represents approximately 16 /0 of the portfollo value. 21
John Huntlngdon's Charity Notes to thè Flnancial Statements For the year ended 31 Dècèmber 2024 18 DebtoryJ Accounting poll¢y: other debtors are shown as the amount due. Prepaym8nts are valued at the amount prepaid. Débtors are considered to be baslc financial instruments under FRS 102. 2024 2023 Due wlthln ong year Oth8r debtors VAT & other lax Prepayments 97,649 2,007,372 2.355 413,654 2,423,381 314,992 412,641 Duè aft•r one year other debtors 412.641 2,423.381 Prepayments Include 8 /0 deposit on the remalnlng 19 Redrow propety purchases. 19 Credltors: Amounts falling duo wlthln one year Accountlng pollcy: creditors and provisions are recognised when the Charity h8s a present obligatlon resulting from a past event whlch will result In the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated rellably. Creditors and provision5 are recognised at their $8tt18menl valué. Wlth the exception of accruals, cr8dltors are considered to be basic financlal Instruments under FRS102 and are measured at falr value. 2024 2023 Trade credltors VAT & other tax Tax and Nl A¢cru8ls and Sundry creditors 43,100 1,953 3,085 26,669 29.708 2,442 46,888 79.038 20 Capltal commltments On 151h Dernber 2023 the Charity committed to purchasing 25 houses from Redrow Housing for a lotal conslderallon of £5,320.478. Six houses have been purchased in 2024, wlth an expectation of a further five are complellng in 2026 and Ihe remalnd8r completing in 2027 and 2028. The houses will be recognised within fixed assets upon completlon of each Individual house. 21 Posl Balan¢e Sheet events Following a fire at 7 Joyce's Close In November 2024, a tender for repair ¢osts was finalised on 30th January 2025. The Trustees agreed to award the repair to HHS at an estimated cost of £69,859.03. This cost is not accrued in 2024 as it was not know at the time, and it will be covered by JHC'S insurance in full wlth the exception of VAT. Overall the impact Is small, in the region of up to £14,000 to Cover the VAT elem8nt. 22
John Huntingdon'5 Charlty Notes to the Finan¢lal Statements Forth6 yr ended 31 Decembor 2024 22 Funds Accountlng pollcy.. Unrestricted funds are available for use at the discretion of th8 Trustoes in furtherance of the objects of th8 charity. Designated funds are unrestriGted fijnds earmarked by the Trustees for particular purposes. Restricted funds are subject to restrictions on their spending, imposed by the donor. Rèalised & unreallsed gains & (losses) Balance at 1 January 2024 Balance at 31 December 2024 Incomlng Resources Resources Expended Transfers Unrestrlctod Funds General reserve 93,416 677,087 (394,488) 36 (184,606 191,445 Designated Funds Capital Reserve 16,136,085 Charitable Projects 35,000 Cyclical Maintenance 117,468 Extraordinary Repalrs 35,232 Mordante House Repalrs 53,073 16,376,858 (69,8141 (26,7321 (20,3111 (54.4661 (51,4801 1222,804 498,827 65.050 26,732 18,432 36,392 38,000 184,606 16.630,148 35,000 122,654 28,913 39,593 16.856.308 7,066 11,029 726 726 516,922 Restrlcted Funds Othèr restri¢ted income Spicer Fund 7,875 11,656 19,531 31,574 444 (30,558) { 4,585) (35,143} 8,891 7,875 16,766 360 32,018 360 16,489,805 709,831 { 652,435} 517,318 17,064,519 Re81ised & unrealised gains & (losses) prloryear for comparison Bal8nc8 at l January 2023 8alanG• at 31 D8¢ember 2023 Incoming Resources R8sourc8s Expended Transfers Unrestrl¢ted Funds General reserve Deslgnated Funds capital Reserve Charitable Projeots Cyclical M81nten8nc8 Extraordinary Repalrs Mordante House Repalrs 583 973 437 987 44 147 951 93.416 15, 879, 935 35, 000 111,745 43, 584 39,293 16,109,557 (69,812) (34,881) (17,736) (53,464) 305,716 20,246 34,881 18,432 36,392 16, 136,085 35,000 117,468 35,232 53,073 16,376,858 5,027 8,039 681 681 200 113 318 782 147,951 Restn¢tsd Funds Other restricted income Spicer Fund 8,636 12,336 20,972 22, 790 438 (23,551) 2,481 (26,032) 7,875 11,656 1,363 1,363 23,228 19.531 16,225,866 607,882 (664. 133) 320, 189 16,489,805 23
John Huntlngdon's Charity Notes to the Flnanclal Statements For the year ended 31 Decèmber 2024 22 Funds (continued) Dèsignated Funds Capltal Reserve The trustees continue to maintain the pollcy to hold a permanent capltal reserve based on a historic ownershlp and sale of land from its 16th century foundations. Elements of the original gift of land have been sold and tha procèeds reinvested in new assets whlch are represented by the current holdings of land. buildings and investments. These assets are relained in the manner of a permanent endowment 8nd have continued to be Invested to moet tho needs of the people of Sawslon for the present and th8 future. Charltable Projects Settlng aside funds for Ihe follovAng flnanclal year to allow th8 Trustses lo respond to projects of which they wlsh to support. Funds set aside to meet cyclical malntènance costs to the almshouse properties at the rat8 recommended by the Almshouse Association. Funds set aslde to meet extraordinary repalr costs to the almshouse propertles at the rate recommended by the Almshouse Assoclatlon. Funds set aside towards future maintenance costs of the property in order to keep it in good repalr and fit for purpose. Cyclical Malntenance Extraordinary Repalrs Mordante House Rostricted Funds Other restricted Income The Charity recelves occaslonal grants and donations for specSfic charitable purposes which are usually spent withln the financlal year. The Charity has received grants from thr88 surroundlng parfsh councils lo support clignls residènt in those parishes. At thè year énd Ihe balance unspent on these donatlons Is as follow5: Great Shelford Parlsh Council £3.801 Llttle Shelford Pariish Councll £2,074 Duxford Parish Council £3,474 Total £9,349 Splcer Fund Assets transferred to the Charity from the Spicer Fund on its closure to be used for specific eXndIture whioh the Trustees conslder to be in sympathy wlth the Splcer Chgrfty's orlginal oblectSve of supportlng child welfare. 24
John Huntingdon's Charity For the year ended 31 De¢emb6r 2024 Administratlve Information Company numbèr 8045630 Charlty number 1118574 Reglstered Offlce John Huntlngdon Centre 189 High Street Sawston CB22 3HJ Trustees who are also dlrectors under Company law, who served during the year and up to the dat8 of this r8POrt were as follows: David Basllngton Tom Butler Elaanor C18PP Kleran Cooper Reg Cullum Ssndra Davidson Holger Grund81 Chris Ingham Sue Reynolds Sue Snape Kathryn Walte Vice Chalr (reslgned 19th March 2024) Chalr Key managom•nl personnel Jill Hayden Charfly Managor & Company Secretary Audltor8 Saffery LLP Westpoint, Peterborough Business Park Petarborough PE2 6FZ Sollcllors Taylor Vinters Merlin Place Cambridge CB4 ODP Investment Advlsers Rathbone8 Fin8bury Clrcus London W1J SUB Insuran Brokers Glbbs Denley Crystal House Swavesey CB4 SUG Bankers Barclays Bank plc 1 Churchill Place London E14 5HP CoperatIve Bank PO Box 250 Skelmersdale WN8 6WT CAFcash West Malling Sussex ME19 4JQ 25
John Huntlngdon's Charlty For the year ended 31 December 2024 Admlnlstratlve information {contlnued} Hub m•mb•rship Governance & HR Ki8ran Cooper Sandra Davidson Holger Grundel Chris Ingham Staff: Jill Hayden and Trudy Carder Proporty & Land Tom Butler Eleanor Clapp Kleran Cooper Reg Cullum Sue Snape Staff: Jlll Hayden and Trudy Cardér Grant Glving Kleran co0r Sandra Davidson Holger Grundel Chris Ingham Sue Reynolds Staff: Jill Hayden, Amanda Smith & Trudy Cardér Advlce Sarvlces Kieran Cooper Sandra Davidson Sue Reynolds Chris Ingham staff: Jlll Hayden, Amanda Smlth & Kay Deerfng Flnan¢e Tom Butler Eleanor C18PP Kieran Coop8r Reg Cullum Holger Grundel Sue Snape staff: Jlll Hayden & Trudy Carder Accountant: Paul Marin 26