REGISTERED CHARITY NUMBER: 1162612
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2021
for
The Don Miller Charitable Trust CIO
SKS Bailey Group Limited Suite 9 Normanby Gateway Scunthorpe North Lincolnshire DN15 9YG
The Don Miller Charitable Trust CIO
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 to 6 |
| Notes to the Financial Statements | 7 to 11 |
| Detailed Statement of Financial Activities | 12 |
The Don Miller Charitable Trust CIO
Report of the Trustees
for the Year Ended 31 December 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Charitable aims and objectives
The CIO subsists for the benefit of the inhabitants of High Beech and the surrounding area through the provision of facilities for their recreation and good health.
Public benefit
The trustees have had regard to the Charity Commission's guidance on public benefit.
STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution
The CIO is controlled by its governing document and is incorporated as a charitable incorporated organisation.
Induction and training of new trustees
New trustees are selected on their ability to improve the operation of the CIO irrespective of their gender, age, religious or sexual orientation or background. New trustees are fully briefed on the charity's activities, constitution and management before being able to undertake their role.
Risk management
The trustees seek to identify and review the risks to which the CIO is exposed and to ensure appropriate controls are in place to provide reasonable assurance against loss, misstatement, fraud or error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
CE005004 (England and Wales)
Registered Charity number
1162612
Registered office
Old Vineyard Beech Hill Park Pynest Green Lane Waltham Abbey Essex EN9 3QL
Trustees
Mrs C Mead D Miller J Smith
Independent Examiner
Mr H N Sanderson FCIE SKS Bailey Group Limited Suite 9 Normanby Gateway Scunthorpe North Lincolnshire DN15 9YG
Page 1
The Don Miller Charitable Trust CIO
Report of the Trustees
for the Year Ended 31 December 2021
RESERVES POLICY
The nature of the CIO's activities is such that there are fluctuations in its income. The CIO's Reserves Policy is to aim to achieve a position where a cash reserve amounting to no less than 6 months estimated total expenditure is held at each balance sheet date.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs C Mead - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Don Miller Charitable Trust CIO
Independent examiner's report to the trustees of The Don Miller Charitable Trust CIO
I report to the CIO trustees on my examination of the accounts of the Charity for the year ended 31 December 2021.
Responsibilities and basis of report
As the CIO's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of your CIO's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the charities (Accounts & reports) regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as a part of independent examination:
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr H N Sanderson FCIE SKS Bailey Group Limited Suite 9 Normanby Gateway Scunthorpe North Lincolnshire DN15 9YG
Date: .............................................
Page 3
The Don Miller Charitable Trust CIO
Statement of Financial Activities for the Year Ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Other income Total EXPENDITURE ON Raising funds 3 Charitable activities Governance Costs Sports & educational Facilities Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2021 Unrestricted fund £ 79,089 42,060 23,420 144,569 93,594 1,915 94,718 190,227 (45,658) 2,283,294 2,237,636 |
2020 Total funds £ 5,419 34,237 - 39,656 19,794 1,352 86,602 107,748 (68,092) 2,351,386 2,283,294 |
|---|---|---|
The notes form part of these financial statements
Page 4
The Don Miller Charitable Trust CIO
| FIXED ASSETS Tangible assets Investment property CURRENT ASSETS Debtors Cash at bank CREDITORS Amounts falling due within one year NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS |
Statement of Financial Position 31 December 2021 Notes 6 7 8 9 10 |
2021 Unrestricted fund £ 609,743 960,000 1,569,743 10,267 659,210 669,477 (1,584) 667,893 2,237,636 2,237,636 2,237,636 2,237,636 |
2020 Total funds £ 609,743 960,000 1,569,743 4,489 710,033 714,522 (971) 713,551 2,283,294 2,283,294 2,283,294 2,283,294 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
continued...
The Don Miller Charitable Trust CIO
Statement of Financial Position - continued
31 December 2021
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D Miller - Trustee
The notes form part of these financial statements
Page 6
The Don Miller Charitable Trust CIO
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
INCOME
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
EXPENDITURE
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
TAXATION
The charity is exempt from corporation 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.
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The CIO operates a defined contribution pension scheme. Contributions payable under workplace pension scheme are charged to the Statement of Financial Activities in the period to which they relate..
continued...
Page 7
The Don Miller Charitable Trust CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
2. INVESTMENT INCOME
| 2. INVESTMENT INCOME |
||
|---|---|---|
| Rents received 3. RAISING FUNDS INVESTMENT MANAGEMENT COSTS Property repairs 4. TRUSTEES' REMUNERATION AND BENEFITS Trustees' salaries Trustees' social security Trustees' pension contributions to defined benefit schemes |
2021 £ 42,060 2021 £ 93,594 2021 £ 38,600 89 1,158 39,847 |
2020 £ 34,237 |
| 2020 £ 19,794 |
||
| 2020 £ 36,700 - 1,101 |
||
| 37,801 |
Trustee's salaries & pension costs as noted above are shown for the purposes of informed disclosure, but relate to the duties of employment and not the duties as a Trustee.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Employees | 2021 4 |
2020 8 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
Page 9
6. TANGIBLE FIXED ASSETS
| COST At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Freehold property £ 609,743 609,743 609,743 |
|---|---|
Freehold property has been included in balance sheet at cost. Freehold property is made up of two material components: land and Buildings. Land is not depreciated because it is not expected to wear out and its residual value is likely to be at least equal to its cost. However, land is tested for impairment at each balance sheet date, however the trustees consider that no adjustment for impairment is required at 31 December 2021.
continued...
Page 9
The Don Miller Charitable Trust CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
7. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
£ 960,000 960,000 960,000 |
|---|---|
Investment property has been included in the balance sheet at cost and comprises both land and buildings held by the charity to earn rental income and for capital appreciation. No depreciation has been charged on the Investment property as the trustees consider the cost to represent at its ‘fair value’ at the balance sheet date.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors PAYE receivable Prepayments CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes General Pension Payable Other creditors Accrued expenses |
2021 £ 1,585 5,117 3,565 10,267 2021 £ - 155 - 1,429 1,584 |
2020 £ 3,077 - 1,412 4,489 2020 £ (494) - 113 1,352 971 |
|
|---|---|---|---|
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.1.21 £ 2,283,294 2,283,294 Incoming resources £ 144,569 144,569 |
Net movement in funds £ (45,658) (45,658) Resources expended £ (190,227) (190,227) |
At 31.12.21 £ 2,237,636 2,237,636 Movement in funds £ (45,658) (45,658) |
|
|---|---|---|---|---|
continued...
Page 9
The Don Miller Charitable Trust CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included in the above are a Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 2,351,386 2,351,386 s follows: Incoming resources £ 39,656 39,656 |
Net movement in funds £ (68,092) (68,092) Resources expended £ (107,748) (107,748) |
At 31.12.20 £ 2,283,294 2,283,294 Movement in funds £ (68,092) (68,092) |
|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 2,351,386 2,351,386 |
Net movement in funds £ (113,750) (113,750) |
At 31.12.21 £ 2,237,636 |
|---|---|---|---|
| 2,237,636 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 184,225 184,225 |
Resources Movement expended in funds £ £ (297,975) (113,750) (297,975) (113,750) |
|---|---|---|
continued...
Page 10
The Don Miller Charitable Trust CIO
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
11. RELATED PARTY DISCLOSURES
The CIO has received £66,200 (PY Nil) as gifts from Don Miller, the trustee and the CIO is owed £1,584.68 (PY £3,076.74) from him as at 31 December 2021.
Page 11
The Don Miller Charitable Trust CIO
Detailed Statement of Financial Activities
for the Year Ended 31 December 2021
| INCOME AND ENDOWMENTS Donations and legacies Gifts Investment income Rents received Other income Coronavirus Job Retention Scheme Grants Total incoming resources EXPENDITURE Investment management costs Property repairs Charitable activities Trustees' salaries Trustees' social security Trustees' pension contributions Wages Rates and water Light and heat Telephone Postage and stationery Sundries Motor expenses Software subscriptions Support costs Other Insurance Governance costs Accountancy and legal fees Total resources expended Net expenditure |
2021 £ 79,089 42,060 23,420 144,569 93,594 38,600 89 1,158 43,472 1,657 2,884 1,233 668 297 528 1,767 92,353 2,365 1,915 190,227 (45,658) |
2020 £ 5,419 34,237 - 39,656 19,794 36,700 - 1,101 37,029 1,765 2,774 1,059 1,412 309 478 1,620 84,247 2,355 1,352 107,748 (68,092) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 12