**Draft Financial Statements at 18 September 2024 at 09:46:51** **Charity Registration No. 1168571** ## **COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 25 JULY 2024** 11 De Grey Square De Grey Road Colchester Essex CO4 5YQ **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **CONTENTS** ||**Page**| |---|---| |Company information|1| |Trustees report|2 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 12| **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **COMPANY INFORMATION** **Trustees** C N Bennett Dr I Dewis N Humphreys **Charity number** 1168571 **Principal address** 36 Lexden Road Colchester Essex England CO3 3RF **Independent examiner** TC Group 11 De Grey Square De Grey Road Colchester Essex CO4 5YQ - 1 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **TRUSTEES REPORT** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ The trustees present their annual report and financial statements for the year ended 25 July 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016) ## **Objectives and activities** The trust's objects are to relieve poverty of homeless people, those at risk of becoming homeless or those in insecure accommodation. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ It has been a busy year as we have completed the plans mentioned in my report last year. We work closely with Beacon House Ministries, a worthwhile Christian charity catering effectively for the homeless and those threatened with homelessness in the district of Colchester. It was identified that the assets tied up in our houses could be more effectively employed by financially helping Beacon House to prevent the various causes of homelessness rather than accommodating those who found themselves without a home. The steps to enable this to happen have now been completed with the sale of the 3 houses and the redeployment of the assets to provide a secure income for the benefit of Beacon House. The money is being invested in well regarded quoted investment trusts, professionally managed to give a return which in the long run, should give both an income and protection against inflation. We will also benefit from the income from the 30% retained ownership of the 9 East Hill flats which we own jointly with Beacon House. In the future, the management of this trust should be a lot simpler, as we pay our income (currently £3000 monthly) as a donation to Beacon House in the comforting knowledge that this is effectively being used to help those potential beneficiaries identified when this trust was created 8 years ago. ## **Financial review** A surplus of £110,258 (2023: £32,969) was made in the year which included a gain of £59,811 (2023: £85,136) on the disposal of freehold property. ## **Structure, governance and management** The trustees who served during the year and up to the date of signature of the financial statements were: C N Bennett Dr I Dewis N Humphreys ## _Recruitment and appointment of trustees_ - 2 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **TRUSTEES REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ The trustees report was approved by the Board of Trustees. .............................. C N Bennett ## **Trustee** Date: ............................................. - 3 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** I report to the trustees on my examination of the financial statements of Colin Bennett Charitable Trust for the Homeless (the trust) for the year ended 25 July 2024. ## **Responsibilities and basis of report** As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable 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 that in any material respect: - 1 accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. Jacqueline Frost ACA TC Group 11 De Grey Square De Grey Road Colchester Essex CO4 5YQ Dated: ......................... - 4 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income and endowments from:**|||| |Charitable activities|**2**|12,227|5,775| |Investments|**3**|17,831|261| |Other income|**4**|59,811|85,136| |**Total income**||89,869|91,172| |**Expenditure on:**|||| |Charitable activities|**5**|16,993|58,203| |**Total expenditure**||16,993|58,203| |Net gains/(losses) on investments|**9**|37,382|-| |**Net income and movement in funds**||110,258|32,969| |**Reconciliation of funds:**|||| |Fund balances at 26 July 2023||1,030,150|997,181| |**Fund balances at 25 July 2024**||1,140,408|1,030,150| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **BALANCE SHEET** ## _**AS AT 25 JULY 2024**_ |**Notes**
**Fixed assets**
Tangible assets
**11**
Investments
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within one**
**year**
**13**
**Net current assets**
**Total assets less current liabilities**
**The funds of the trust**
Unrestricted funds
**14**|**2024**
**£**
**£**
290,368
516,800
807,168
12,312
322,248
334,560
(1,320)
333,240
1,140,408
1,140,408
1,140,408|**2023**
**£**
**£**
714,181
-
714,181
6,240
311,049
317,289
(1,320)
315,969
1,030,150
1,030,150
1,030,150|**2023**
**£**
**£**
714,181
-
714,181
6,240
311,049
317,289
(1,320)
315,969
1,030,150
1,030,150
1,030,150| |---|---|---|---| ||||714,181
315,969| ||||1,030,150| ||||1,030,150| ||||1,030,150| The financial statements were approved by the trustees on ......................... .............................. C N Bennett **Trustee** - 6 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ ## **1 Accounting policies** ## **Charity information** Colin Bennett Charitable Trust for the Homeless is a trust founded through a trust deed dated 25th July 2016. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Incoming resources** Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.5 Resources expended** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the trust 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. - 7 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is not provided on the freehold buildings as they are required to be maintained to a high standard, resulting in a residual value which would make any depreciation charges immaterial. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **2 Charitable activities** ||**Charitable**|Charitable Income| |---|---|---| ||**Income**|| ||**2024**|2023| ||**£**|£| |Rental income|12,227|5,775| ## **3 Income from investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Income from listed investments|5,202|-| |Interest receivable|12,629|261| ||17,831|261| - 8 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ ## **4 Other income** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Net gain on disposal of tangible fixed assets|59,811|85,136| |5|**Charitable activities**||| |||**Charitable**|**Charitable**| |---|---|---|---| |||**Expenditure**|**Expenditure**| |||**2024**|**2023**| |||**£**|**£**| ||Refurbishment costs|-|54,636| ||Insurance|1,460|906| ||Bank charges|100|64| ||Rates|459|797| ||Surveyor costs|480|480| ||Accountancy|1,320|1,320| ||Legal costs|478|-| ||Parking|696|-| ||Donations- Beacon House|12,000|-| |||16,993|58,203| |||16,993|58,203| ||Expenditure consists of £1,320 (2023: £1,320) of support costs relating to accountancy fees.||| |**6**|**Net movement in funds**|**2024**|**2023**| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Profit on disposal of tangible fixed assets|(59,811)|(85,136)| - 9 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. ## **8 Employees** The average monthly number of employees during the year was: |The average monthly number of employees during the year was:||| |---|---|---| ||**2024**|**2023**| ||**Number**|**Number**| |Total|-|-| |There were no employees whose annual remuneration was more than £60,000.||| ## **Remuneration of key management personnel** The remuneration of key management personnel was as follows: ## **9 Gains and losses on investments** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|37,382|-| ## **10 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 10 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ |**11**
**Tangible fixed assets**
**Cost**
At 26 July 2023
Disposals
At 25 July 2024
**Carrying amount**
At 25 July 2024
At 25 July 2023
**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Freehold land**
**2024**
**£**
-
12,312
12,312
**2024**
**£**
1,320|**and buildings**
**£**
714,181
(423,813)| |---|---|---| |||290,368| |||290,368| |||714,181| |||**2023**
**£**
4,779
1,461| |||6,240| |||**2023**
**£**
1,320| ## **14 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At**|**26**|**July 2023**|**Incoming**|**Resources**|**Gains and**|
**At**|**25 July 2024**| |---|---|---|---|---|---|---|---|---| |||||**resources**|**expended**|**losses**||| ||||**£**|**£**|**£**|**£**||**£**| |General funds|||1,030,150|89,869|(16,993)|37,382||1,140,408| - 11 - **Draft Financial Statements at 18 September 2024 at 09:46:51 COLIN BENNETT CHARITABLE TRUST FOR THE HOMELESS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 25 JULY 2024**_ |**14**|**Unrestricted funds**|||||**(Continued)**| |---|---|---|---|---|---|---| ||**Previous year:**|**At 26 July 2022**|**Incoming**|**Resources**|**Gains and**|
**At 25 July 2023**| ||||**resources**|**expended**|**losses**|| |||**£**|**£**|**£**|**£**|**£**| ||General funds|997,181|91,172|(58,203)|-|1,030,150| ## **15 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 12 -