**REGISTERED CHARITY NUMBER: 1162612**
## **REPORT OF THE TRUSTEES AND**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **FOR**
## **THE DON MILLER CHARITABLE TRUST CIO**
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
**THE DON MILLER CHARITABLE TRUST CIO**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|10|
|**Detailed Statement of Financial Activities**||11||
**THE DON MILLER CHARITABLE TRUST CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. 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**
## **Objectives and aims**
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.
## **FINANCIAL REVIEW**
## **Reserves policy**
The nature of the CIO's activities is such that there are fluctuations in it's 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.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The CIO is controlled by its governing document and is incorporated as a charitable incorporated organisation.
## **Recruitment and appointment 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.
## **Induction and training of new trustees**
New trustees are fully briefed on the charities 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 fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1162612
## **Principal address**
Gardens of Hanbury Pynest Green Lane Waltham Abbey Essex EN9 3QL
## **Trustees**
J Smith (resigned 9.12.23) Mrs C Mead (resigned 13.1.23) D Miller Ms M Clay-Michael (appointed 23.1.23) B Dowding (appointed 23.1.23) V Nicolouzos (appointed 23.1.23) Ms J Farrar (appointed 23.1.23) Ms K Godfrey (appointed 23.1.23) J Pretty (appointed 23.1.23) D Cretten (appointed 23.1.23) S Lordan (appointed 23.1.23)
Page 1
**THE DON MILLER CHARITABLE TRUST CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Independent Examiner** Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ D Miller - 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 charity trustees on my examination of the accounts of The Don Miller Charitable Trust CIO (the Trust) for the year ended 31st December 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an 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.
Natalie Floyd, ACA
Cobbin Floyd Ltd Chartered Accountants 15a Station Road Epping Essex CM16 4HG
Date: .............................................
Page 3
**THE DON MILLER CHARITABLE TRUST CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Investment management costs
**Charitable activities**
General activities
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**2023**
**Unrestricted**
**fund**
**£**
**5,654**
**84,033**
**89,687**
**1,356**
**72,714**
**74,070**
**215,000**
**230,617**
**750,000**
**980,617**
**2,176,693**
**3,157,310**|2022
Total
funds
£
14,270
59,178
73,448
36,796
97,595
134,391
-
(60,943)
-
(60,943)
2,237,636
2,176,693|
|---|---|---|
The notes form part of these financial statements
Page 4
**THE DON MILLER CHARITABLE TRUST CIO**
## **BALANCE SHEET**
## **31ST DECEMBER 2023**
|Notes
**FIXED ASSETS**
Tangible assets
5
Investment property
6
**CURRENT ASSETS**
Debtors
7
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|**2023**
**Unrestricted**
**fund**
**£**
**1,359,743**
**1,175,000**
**2,534,743**
**7,213**
**652,834**
**660,047**
**(37,480)**
**622,567**
**3,157,310**
**3,157,310**
**3,157,310**
**3,157,310**|2022
Total
funds
£
609,743
960,000
1,569,743
7,428
605,007
612,435
(5,485)
606,950
2,176,693
2,176,693
2,176,693
2,176,693|
|---|---|---|
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 5
**THE DON MILLER CHARITABLE TRUST CIO**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **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 Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property
- not provided
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **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.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 6
continued...
**THE DON MILLER CHARITABLE TRUST CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **2. INVESTMENT INCOME**
|Rents received
**3.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' salaries
Trustees' social security
Trustees' pension contributions to defined benefit schemes|**2023**
**£**
**84,033**
**2023**
**£**
**140**
**-**
**21**
**161**|2022
£
59,178|
|---|---|---|
|||2022
£
36,400
951
1,098|
|||38,449|
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022. **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
Investment management costs
**Charitable activities**
General activities
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
14,270
59,178
73,448
36,796
97,595
134,391
(60,943)
2,237,636
2,176,693|
|---|---|
continued...
Page 7
**THE DON MILLER CHARITABLE TRUST CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **5. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1st January 2023
Revaluations
At 31st December 2023
**NET BOOK VALUE**
At 31st December 2023
At 31st December 2022
Cost or valuation at 31st December 2023 is represented by:
Valuation in 2019
Valuation in 2024
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1st January 2023
Revaluation
At 31st December 2023
**NET BOOK VALUE**
At 31st December 2023
At 31st December 2022
Fair value at 31st December 2023 is represented by:
Valuation in 2016
Valuation in 2024|Freehold
property
£
**609,743**
**750,000**
**1,359,743**
**1,359,743**
609,743
**Freehold**
**property**
**£**
**609,743**
**750,000**
**1,359,743**
**£**
**960,000**
**215,000**
**1,175,000**
**1,175,000**
960,000
**£**
**960,000**
**215,000**
**1,175,000**|
|---|---|
## **6. INVESTMENT PROPERTY**
continued...
Page 8
**THE DON MILLER CHARITABLE TRUST CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**7.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**8.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**9.**
**MOVEMENT IN FUNDS**
At 1.1.23
£
**Unrestricted funds**
General fund
**2,176,693**
**TOTAL FUNDS**
**2,176,693**
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
**89,687**
**(74,070)**
**TOTAL FUNDS**
**89,687**
**(74,070)**
**Comparatives for movement in funds**
At 1.1.22
£
**Unrestricted funds**
General fund
2,237,636
**TOTAL FUNDS**
2,237,636||**2023**
**£**
**7,213**
**-**
**7,213**
**2023**
**£**
**37,480**
Net
movement
in funds
£
**980,617**
**980,617**
Gains and
losses
£
**965,000**
**965,000**
Net
movement
in funds
£
(60,943)
(60,943)|2022
£
5,605
1,823
7,428
2022
£
5,485
At
31.12.23
£
**3,157,310**
**3,157,310**
Movement
in funds
£
**980,617**
**980,617**
At
31.12.22
£
2,176,693
2,176,693|
|---|---|---|---|
|||||
|||||
|||||
continued...
Page 9
**THE DON MILLER CHARITABLE TRUST CIO**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **9. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
73,448
73,448|Resources
Movement
expended
in funds
£
£
(134,391)
(60,943)
(134,391)
(60,943)|Resources
Movement
expended
in funds
£
£
(134,391)
(60,943)
(134,391)
(60,943)|
|---|---|---|---|
||||(60,943)|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.22
£
2,237,636
2,237,636|Net
movement
in funds
£
919,674
919,674|At
31.12.23
£
3,157,310|
|---|---|---|---|
||||3,157,310|
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
£
163,135
163,135|Resources
expended
£
(208,461)
(208,461)|Gains and
Movement
losses
in funds
£
£
965,000
919,674
965,000
919,674|Gains and
Movement
losses
in funds
£
£
965,000
919,674
965,000
919,674|
|---|---|---|---|---|
|||||919,674|
## **10. RELATED PARTY DISCLOSURES**
Don Miller, a trustee of the CIO is owed £33,109 (2022 - £0) by the CIO at the balance sheet date.
Page 10
**THE DON MILLER CHARITABLE TRUST CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Gifts
**Investment income**
Rents received
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Property repairs
**Charitable activities**
Trustees' salaries
Trustees' social security
Trustees' pension contributions
Salaries and national insurance
Rates and water
Light and heat
Telephone
Postage and stationery
Sundries
Premises expenses
Travel
Computer consumables and software
Advertising
Bank charges
**Support costs**
**Other**
Insurance
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income/(expenditure)**|2023
£
**5,654**
**84,033**
**89,687**
**1,356**
**140**
**-**
**21**
**51,674**
**2,644**
**1,748**
**1,905**
**259**
**219**
**7,081**
**-**
**957**
**-**
**10**
**66,658**
**1,622**
**4,434**
**74,070**
**15,617**|2022
£
14,270
59,178
73,448
36,796
36,400
951
1,098
34,572
1,710
4,328
1,619
490
1,645
2,818
487
2,107
675
-
88,900
2,542
6,153
134,391
(60,943)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 11