**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: 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. 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