REGISTERED CHARITY NUMBER: 1166099
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st March 2024
for
Knowle United Charity
West - Chartered Accountants Suite K, Priest House 1624 High Street Knowle Solihull West Midlands B93 0JU
Knowle United Charity
Contents of the Financial Statements for the Year Ended 31st March 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 9 |
| Detailed Statement of Financial Activities | 10 | to | 11 |
Knowle United Charity
Report of the Trustees
for the Year Ended 31st March 2024
The trustees present their report with the financial statements of the charity for the year ended 31st March 2024. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Knowle United Charity is constituted as a Charitable Incorporated Organisation. It was registered with the Charity Commissioners on 16th March 2016. It took over the activities and assets from Knowle United Charity (registered charity number 1042123) and Knowle Educational Charity (registered charity number 1042124)
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1166099
Principal address
Mr S Chaloner - Clerk to the Trustees 31 Kenilworth Road Knowle Solihull West Midlands B93 0JB
Trustees
Mr Stephen Street - Dorridge PCC Chairman Mr Richard Abbey - Co-opted Dr Michael T Bleby - Co-opted Mr Jeff Davies Chadwick End PC Treasurer Cllr. Diane Holl-Allen MBE - Solihull MBC Rev'd Geoff Lanham Mrs Lynda Mackay - Knowle CE Primary Academy Governors Mrs Hilary Morris - Co-opted Mrs Helen Munday - Co-opted Mr Richard Lloyd Mr Rhod Mitchell - Justices of the Peace Mr Ian Hopkins - Co-opted
Independent Examiner
West - Chartered Accountants Suite K, Priest House 1624 High Street Knowle Solihull West Midlands B93 0JU
Approved by order of the board of trustees on 18th February 2025 and signed on its behalf by:
Mr Stephen Street - Trustee
Page 1
Independent Examiner's Report to the Trustees of Knowle United Charity
Independent examiner's report to the trustees of Knowle United Charity
I report to the charity trustees on my examination of the accounts of Knowle United Charity (the Trust) for the year ended 31st March 2024.
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:
-
accounting records were not kept in respect of the Trust 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 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.
Mrs Susan West
West - Chartered Accountants Suite K, Priest House 1624 High Street Knowle Solihull West Midlands B93 0JU
18th February 2025
Page 2
Knowle United Charity
Statement of Financial Activities for the Year Ended 31st March 2024
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 Other income Total EXPENDITURE ON Raising funds 3 Charitable activities Education grants Youth, children and pastoral care workers' grants Special grants Covid grant to schools Christmas donations Berrow Cottage Homes Travel grants Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Unrestricted funds £ 171,362 7,177 178,539 52,096 18,414 26,775 7,700 - 180 10,000 9,500 12,885 137,550 40,989 4,644,403 4,685,392 |
2023 Total funds £ 168,536 - |
|---|---|---|
| 168,536 | ||
| 37,090 11,000 22,160 2,500 37,880 180 - - 12,064 |
||
| 122,874 | ||
| 45,662 4,598,741 |
||
| 4,644,403 |
The notes form part of these financial statements
Page 3
Knowle United Charity
Balance Sheet
31st March 2024
| Notes FIXED ASSETS Tangible assets 5 Investments 6 CURRENT ASSETS Debtors 7 Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
2024 Unrestricted funds £ 4,459,433 79,727 4,539,160 2,775 144,877 147,652 (1,420) 146,232 4,685,392 4,685,392 4,685,392 4,685,392 |
2023 Total funds £ 4,459,867 72,550 4,532,417 - 113,086 113,086 (1,100) 111,986 4,644,403 4,644,403 4,644,403 4,644,403 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 18th February 2025 and were signed on its behalf by:
Mr Stephen Street - Trustee
The notes form part of these financial statements
Page 4
Knowle United Charity
Notes to the Financial Statements for the Year Ended 31st March 2024
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, with the exception of investments which are included at market value.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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
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.
2. INVESTMENT INCOME
| Rents received Dividends Bank interest |
2024 £ 166,057 2,215 3,090 171,362 |
2023 £ 165,781 2,215 540 |
|---|---|---|
| 168,536 |
Page 5
continued...
Knowle United Charity
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| Council tax Repairs & maintenance |
2024 £ - 45,346 45,346 |
2023 £ 18 28,028 |
| 28,046 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023.
5. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| COST OR VALUATION At 1st April 2023 and 31st March 2024 DEPRECIATION At 1st April 2023 Charge for year At 31st March 2024 NET BOOK VALUE At 31st March 2024 At 31st March 2023 |
Freehold property £ 4,459,000 - - - 4,459,000 4,459,000 |
Computer equipment £ 1,733 866 434 1,300 433 867 |
Totals £ 4,460,733 |
| 866 434 |
|||
| 1,300 | |||
| 4,459,433 | |||
| 4,459,867 |
Included in cost or valuation of land and buildings is freehold land of £4,459,000 (2023 - £4,459,000) which is not depreciated.
Cost or valuation at 31st March 2024 is represented by:
| Valuation in 2010 Valuation in 2017 Valuation in 2021 Cost |
Freehold property £ 2,296,500 587,125 1,406,274 169,101 4,459,000 |
Computer equipment £ - - - 1,733 1,733 |
Totals £ 2,296,500 587,125 1,406,274 170,834 |
|---|---|---|---|
| 4,460,733 |
Page 6
continued...
Knowle United Charity
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
5. TANGIBLE FIXED ASSETS - continued
There are 22 freehold properties, 32,34,36,38,44,46,48,50 and 52 Station Road, 2a,2b,2c, 57, 61, 79 and 81 St John's Close, 3a, 3b, 90,90a,96 and 98 Kenilworth Road, Knowle and freehold ground rents 83 and 85 St John's Close all situated in Knowle and vested in Knowle United Charity.The original cost of most of these is unknown. Additionally during the year to 31 March 2002 the freehold of the block of 4 maisonettes 55, 57, 59 and 61 St John's Close was acquired with the lease of 57 already acquired in 2000 and the lease of 61 acquired during the year to 31 March 2019.
Vested in the Official Custodian for Charities, but from which no income is derived, are 3.7 acres of land beneath the buildings known as Knowle Church of England Primary Academy.
In 2021 the properties were valued by Hawkesford (Warwickshire) Limited at a reinstatement value of £3,265,000 and an open market value of £4,459,000.
The trustees do not consider that the value of the properties will fall and accordingly no depreciation is provided.
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Unlisted | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1st April 2023 | 72,550 |
| Reversal of impairments | 7,177 |
| At 31st March 2024 | 79,727 |
| NET BOOK VALUE | |
| At 31st March 2024 | 79,727 |
| At 31st March 2023 | 72,550 |
There were no investment assets outside the UK.
Investments consist of 25,723.38 income shares in COIF Charities Ethical Investment Fund. The original cost of the investments is unknown.
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Rent overdue | 2,775 | - |
continued...
Page 7
Knowle United Charity
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Rent prepaid Other creditors 9. MOVEMENT IN FUNDS At 1.4.23 £ Unrestricted funds General fund 4,644,403 TOTAL FUNDS 4,644,403 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 178,539 TOTAL FUNDS 178,539 Comparatives for movement in funds At 1.4.22 £ Unrestricted funds General fund 4,598,741 TOTAL FUNDS 4,598,741 |
2024 £ (269) 885 804 1,420 Net movement in funds £ 40,989 40,989 Resources expended £ (137,550) (137,550) Net movement in funds £ 45,662 45,662 |
2023 £ (416) 766 750 1,100 At 31.3.24 £ 4,685,392 4,685,392 Movement in funds £ 40,989 40,989 At 31.3.23 £ 4,644,403 4,644,403 |
|
|---|---|---|---|
continued...
Page 8
Knowle United Charity
Notes to the Financial Statements - continued for the Year Ended 31st March 2024
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 £ 168,536 168,536 |
Resources Movement expended in funds £ £ (122,874) 45,662 (122,874) 45,662 |
Resources Movement expended in funds £ £ (122,874) 45,662 (122,874) 45,662 |
|---|---|---|---|
| 45,662 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.4.22 £ 4,598,741 4,598,741 |
Net movement in funds £ 86,651 86,651 |
At 31.3.24 £ 4,685,392 |
|---|---|---|---|
| 4,685,392 |
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 £ 347,075 347,075 |
Resources Movement expended in funds £ £ (260,424) 86,651 (260,424) 86,651 |
Resources Movement expended in funds £ £ (260,424) 86,651 (260,424) 86,651 |
|---|---|---|---|
| 86,651 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st March 2024.
Page 9
Knowle United Charity
Detailed Statement of Financial Activities for the Year Ended 31st March 2024
| INCOME AND ENDOWMENTS Investment income Rents received Dividends Bank interest Other income Gain in value of fixed asset investments Total incoming resources EXPENDITURE Raising donations and legacies Insurance Impairment losses - fixed asset investments Investment management costs Council tax Repairs & maintenance Charitable activities Grants to individuals, charities & other organisations Support costs Management Insurance Postage and stationery Sundries Clerk's fee & expenses Finance Bank charges Information technology Computer equipment Governance costs Accountancy & professional fees |
2024 £ 166,057 2,215 3,090 171,362 7,177 178,539 6,750 - 6,750 - 45,346 45,346 72,569 473 23 635 9,810 10,941 120 433 1,391 |
2023 £ 165,781 2,215 540 |
|---|---|---|
| 168,536 - |
||
| 168,536 5,430 3,614 |
||
| 9,044 18 28,028 |
||
| 28,046 73,720 473 154 734 9,071 |
||
| 10,432 149 433 1,050 |
This page does not form part of the statutory financial statements
Page 10
Knowle United Charity
Detailed Statement of Financial Activities for the Year Ended 31st March 2024
| Detailed Statement of Financial Activities for the Year Ended 31st March 2024 |
||
|---|---|---|
| Total resources expended Net income |
2024 £ 137,550 40,989 |
2023 £ |
| 122,874 | ||
| 45,662 |
This page does not form part of the statutory financial statements
Page 11