REGISTERED CHARITY NUMBER: 1150053
Report of the Trustees and Unaudited Financial Statements for the Year Ended 5 April 2024 for The Margaret Eleanor Cowley Charitable Trust
Market Place Accounting Services 21 Market Place Long Buckby Northamptonshire NN6 7RR
The Margaret Eleanor Cowley Charitable Trust
Contents of the Financial Statements for the Year Ended 5 April 2024
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Accountants Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 7 |
| Detailed Statement of Financial Activities | 8 |
The Margaret Eleanor Cowley Charitable Trust
Report of the Trustees for the Year Ended 5 April 2024
The trustees present their report with the financial statements of the charity for the year ended 5 April 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1150053
Principal address
7 Windsor Close Long Buckby Northampton NN6 7YR
Trustees
A Maycock M E Cowley G Mitchell
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 27th November 2012, and constitutes an unincorporated charity.
Risk management
The trustees have reviewed and assessed the major financial and operational risks to which the charity is exposed. They are satisfied that systems and procedures are in place, both to limit exposure to these risks and, where exposure could exist, be able to manage this in a safe, informed and responsible manner.
An open and receptive approach to solving risk problems is adopted by the Trustees. The trust has a rolling Five Year Plan, updated each year, which sets out strategic objectives and it is against these that key objectives and key risk indicators are reviewed by the trustees.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trustees hold the capital and income of the Trust upon trust to apply the income, and all or such parts of the capital, at such time or times and in such a manner to or for the benefit of the public to relieve the suffering and distress of animals in need of care and attention by reason of sickness, neglect or mistreatment and in particular to provide rescue homes or other facilities for the reception, care and treatment of such animals as the Trustees may in their discretion see fit.
Approved by order of the board of trustees on 06 January 2025 and signed on its behalf by:
A Maycock - Trustee
Page 1
The Margaret Eleanor Cowley Charitable Trust
Accountants’ Report to the Trustees on the unaudited Financial Statements for the Year Ended 5 April 2024
As described in the Trustees’ Report you are responsible for the preparation of the financial statements for the year ended 05 April 2024 set out on pages 3 to 8, and you consider that the fund is exempt from audit. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Market Place Accounting Services The Old Bank 21 Market Place Long Buckby Northampton NN6 7RR
06 January 2025
Page 2
The Margaret Eleanor Cowley Charitable Trust
Statement of Financial Activities for the Year Ended 5 April 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generated | |||
| funds | |||
| Voluntary income | 20,866 | - | |
| Investment income | 2 | 6,699 | 6,180 |
| Total incoming resources | 27,565 | 6,180 | |
| RESOURCES EXPENDED | |||
| Costs of generating funds | |||
| Investment management costs | 3 | 3,513 | 1,659 |
| Charitable activities | |||
| Donations | 250 | - | |
| Governance costs | 384 | 384 | |
| Other resources expended | - | ||
| Total resources expended | 4,147 | 2,043 | |
| NET INCOMING/(OUTGOING) | |||
| RESOURCES | 23,418 | 4,137 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 776,016 | 771,789 | |
| TOTAL FUNDS CARRIED FORWARD | 799,434 | 776,016 |
The notes form part of these financial statements
Page 3
The Margaret Eleanor Cowley Charitable Trust
Balance Sheet At 5 April 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Unrestricted | Total funds | ||
| fund | |||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 5 | 500,000 | 500,000 |
| CURRENT ASSETS | |||
| Debtors | 6 | - | - |
| Cash at bank | 302,309 | 278,891 | |
| 302,309 | 278,891 | ||
| CREDITORS | |||
| Amounts falling due within one year | 7 | (2,875) | (2,875) |
| NET CURRENT ASSETS | 299,434 | 276,016 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 799,434 | 776,016 | |
| NET ASSETS | 799,434 | 776,016 | |
| FUNDS | 8 | ||
| Unrestricted funds | 799,434 | 776,016 | |
| TOTAL FUNDS | 799,434 | 776,016 |
The financial statements were approved by the Board of Trustees on 06 January 2025 and were signed on its behalf by:
A Maycock -Trustee
Page 4
The Margaret Eleanor Cowley Charitable Trust
Notes to the Financial Statements for the Year Ended 5 April 2024
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Rents received 3. INVESTMENT MANAGEMENT COSTS Insurance Property repairs Support costs |
2024 £ 6,699 2024 £ 1,356 2,108 49 3,513 |
2023 £ 6,180 2023 £ 1,273 386 - 1,659 |
||
|---|---|---|---|---|
Page 5
The Margaret Eleanor Cowley Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023.
Trustees' expenses
| Trustees' expenses | 2024 £ - |
2023 £ - |
|---|---|---|
There were no trustees' expenses paid for the year ended 5 April 2024 nor for the year ended 5 April 2023.
| 5. TANGIBLE FIXED ASSETS COST At 6 April 2023 and 5 April 2024 NET BOOK VALUE At 5 April 2024 At 5 April 2023 6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 £ Other debtors - 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Other creditors 2,875 8. MOVEMENT IN FUNDS At 6.4.23 Net movement in funds £ £ Unrestricted funds General fund 776,016 23,418 TOTAL FUNDS 776,016 23,418 |
Freehold property £ 500,000 500,000 500,000 2023 £ - 2023 £ 2,875 At 5.4.24 £ 799,434 799,434 |
|---|---|
Page 6
The Margaret Eleanor Cowley Charitable Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2024
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 27,565 | (4,147) | 23,418 |
| TOTAL FUNDS | 27,565 | (4,147) | 23,418 |
Page 7
The Margaret Eleanor Cowley Charitable Trust
Detailed Statement of Financial Activities for the Year Ended 5 April 2024
| INCOMING RESOURCES Voluntary income Donations Investment income Rents received Total incoming resources RESOURCES EXPENDED Investment management costs Insurance Property repairs Charitable activities Donations Governance costs Accountancy Support costs Management Light and heat Postage and stationery Sundries Fuel Total resources expended Net income/(expenditure) |
2024 £ 20,866 6,699 27,565 1,356 2,108 3,464 250 384 39 - 10 - 683 4,147 23,418 |
2023 £ - 6,180 6,180 1,273 386 1,659 - 384 - - - - 384 2,043 4,137 |
|---|---|---|
Page 8