Flnancial Statements Year Ended 31° December 2024
The Askrigg Foundatlon Financial Statements Year Ended 3151 December 2024 Charlty Reference and Administrative Details Trustees. Annual Report Independent Examinerfs Report ststement of Financlal Actlvhles 24 Balance Sheet Note5 to the Financial Statements 8-16
The Askth FoundatlDn Charfty R•f•rnnetr nd AdmIThIstrath Detsls Y•ar Ended 31° December2024 awrlty reqtstrlon Nmb•r Charltabl• hwrporated Orwls•lloh numbar CE0701 Mrs G J Anderson Iresilned 13105120251 Rev D J aark Mrs E Fawcett Mrs CP Gosllr Mr H A Kirkbrlde Mrs K Hodgson Ireslgned 1¥0512025) th Pen Mrs E Fawcett Tr••sur•r Addr•ss Askni8g House Main Street LeW)um 14orth York5hlre DL83HG Ihdepehdent Ex4mln Mr M A Fleming Yorkshire Dales Acntart¥ In Pl. Dryden House North Yorksh DL8 3PA Solkltor Hall & BireS 8ank Chambers Maln Street North yO$h 0L83QL Banknrs C4F Bank Ltd 25 Kfin8s Holl Avenue ngs Hill West Mallln8 Kent ME1841Q
The Askrlg8 Foundatlon Trustaos, Ann Rewt Year Énded 31° December 2024 The trustees present their report and the finati¢ial statements of the charity for the year ended 31" Deomber Z024. The trustees have adopted the provisirffis of the Statement of Recommenthd Prarti¢e ISORPI "Accounting and Reportln8 by Charities" In preparln8 the annual report and financial statements of the Charity. Thefinancial statements have been weparedin accordan with theaccountln8pollcles set outin notestotheaceounts and comply with the charivs governin8 d0men[ the Char116es Art 2011 and Accoting and Reporting by Chadtles.. ststement of Recommended Pra¢tlce applkable to charities preparin8 their accounts in accordance with the Financial RepOrTrg Standard applicable In the UK and RepubfK of Ireland pub115hed in Ortober 2019. Tntstws ofth• tharlty The trustees who have seryed duri the ar and sin¢ethe yeaternl Thwe as folk). Mrs G J Anderson Ire$4med 13105120251 Rev D J aark Mrs E Fawcett Mrs C P Gosling Mr H A Kirkbride Mrs K Ho(son Ireslgned 13105120251 Obl•CU$ and acth The principal oblective5 of the Askfrgg Foundati continueto be dTi¥en bythe original trust deed of 1971, whlth tssks the trustees to undertake.such works as are berficial to the Parish In Ilne ¥Arh the foundlng Chrlstlan prtndples." Thè FJndatI0n becwne artive as thaTitable Inccvpornted Organisation wth effect from @ June 2019, hn8 prevlou5 operated as an ordinary charty. re8iStrdtp)n number 51K838. The oble¢ts of the Charlty are to promote any charltable purp05e for the public generally and. in particulw. the Wtha1ytts of the Upper WensIvale Benefice and for the general purpose of such b(xlies as thetrustee5 mayfri¥n tinio time decide to support Publc b•n•fftstatsm•nt The charity continues to 5UPPOrt charitable purpose5 in the Upper weneYdaIe 8tnefice as and when Identffied. The tharity has bÈtn dèliverin8 publk bènefit by providin8thrèèaffordablè homes for rent in perpetuity for bcal people as detwmined by a speufi¢ criteria and a shop * a reawbk rènt It is doing so from property that the charfty owns. which was not prevkusly being ful lIos. The twstees consider ihat they have (lied with their duty to have due rerdfd to the c¢mmission'$ publlc benefft 8uldance. The Foundation provides three affonlable homes athd one retail •t In the village of Askf*8. It has been a fairfy 0d yearlor the Foundation with the same tenants in all frr properties forthe entire year. There have been no maintenance issues on the resldential properties. and small rent increases were applied but the rents rèmain very affordable for our area. The shop comlnuts to bè la to Heather & Grouse and the small ¥ea of damp * thè back of thè property has beèn repalred.
The Asknqg Foundatlon Tntee< Ann1 Report Year Ended 31° De¢embw 2024 Fknandal rwl•w {kn¢ludI rnserbw Wlth good occupancy levels the incomè Serted from the propty amunted to £19,24712023: £18.7101. Costs dLxreased to £18.607 from £18.938 in 2023, a decrease of £331. The mortgage rernains the lar8e5t monthly out8oln8 and interest alone amounted to É9.134 {2024: £8.7831. otheThth costswere rel4tlvety low. The Trustees conslder It appropriate that the osh fvrtd5 available in the current account do not fall below £lO,OCiI. 60in8 forwards the TnteeS wlll contlnue to look to stren8then cash reseNe5 before fvrtherln8 its objertives. Whilst the totsl charity fijnds arè hèalthy at £252.545. • bt ol this is locked into property. Plans for future pwlgds Wlth the properties all being in exelent condttion the trustees arè hopèful th•t minimal expenditure will be reqUId on them over the rnIng yeats. It Is tyJr intention to keep these to a high stsnd¥d so that people are Prol to Ilve in them. Strnctyr•i qov•rnanc• and m¥1*m•t The charlty is 8o¥emed by Its Charltsble Incorp Qr8anlsation constitution docume dated 2e November 201& The charity is managed by its trustees. Where there is a need for a new Trustee. Trustees are identffied by thelr sklll set by servin8 Trustees and are inyited toioin the organisation. Truslees, respS1b11lt1•%
The Askr*8 Foundatlon Trustees. Annual Report Year Ended 31" December 2024 On behalf of the board Mrs E Fawcett. Chairperson. TrustÈe Date:
The Askrlgg FourHlatlon Independent Examln•rf8 Report to th• Trusto08 of Tho Askrfgg Foundallon Year Ended 311 December 2024 I report to the charitytrustees on myexamination of theaccountsof the charlty fortheyearended 31# December 2024 which are set out on pages I to 16. Responsllltl•s and basls of report As the charitys trustees are respor&ble for the preparation of the accounts in accordan¢e wlth the requlrements of the Charities Art 20111.the ACVI. I report In respect of my examination of the dmritys aLzounts Carried under settlon 145 of the Act and In carrying out my examlnauon I have followed all the applicable DIrect•o given by the Charity Commlssk)n under sectlon 145151{bl of the ACL Independent •xamkn•rfsstt•m I have completed my &MinatIOn. I corrflm) that no material matters have come to my attention In connectlon wlth the examination givlng me cause to belierfe thal In any matwi?I re5pert: I have no concerns and have come acros5 other matters In coMe¢tion with the examlnatlon to whlth attentlon should be drawn in this rep¢)rt in order to enable a proper undÈrstsnd1 of the accounts to be reached. Mrm A FrnIng ICAEW Member No. 9228615 Yorkshlre Dales Acccwnta Kiln Pla Dryden house Hawes North Yorkshlre OL8 3QG Date: 14 06Wf Q• as
Th• Askrlgg Foundatlon Statement of Flnanclal Actlvltlos Year Ended 31*1 December 2024 Unre5trided Restricted funds fijnds Year Ended 2024 Totsl Year Ended 2023 Total Incom• and end•)wm•nts frtyn: Property Income Donations and legacles Investments Grants Other income 17.424 L823 19,247 118 234 18.710 24 221 234 Totsl Inme and 17542 2.057 19,599 18.955 Expendllure on: Overheads & admini5tTrtion 18397 210 18.607 18,938 Total •xpqndkwe 18.397 210 18.607 18J38 Net 8ains I (losses) ofi investm 165 165 627 Net Income I lexpeNlltyr•l 18551 2A112 1,157 N•t mov•m•nt In fuNIs 1855) io L157 Reco11th offwd5: Funds brtyJ8ht fOrartI $4 251.388 250,744 183.699 251545 251,388 All income and expendituft derive from continulrrf art14rftles. The statement of finarbclal aCtItieS indudes all gains and losses r•co8nised during theyeir.
The A8krtgg Foundatlon Balance Sh•et Yoar Ended 311¢ Dewnber 2024 2024 2023 Flx•d •ss•ts Tan8ible assets 335.426 342.679 335.426 342.679 Debtors Investments Cash at bank and in hand io li 457 7.497 18.513 82 7,332 12.403 26.467 I917 Cx•thtOf5: amounts fallIth• rA4thln on• y• 12 13.252) {3,1921 Nrt ¢urr•rt as%•ts l {Ilabl411•s) 23.215 16.625 Total ass•ts kn ¢urr•nt M•bll 358.641 359.304 1106,0%) {107,9161 N•tJssets I Illablltlesl 251,388 Charlty Funds Restricted funds Unrestricted funds 14 14 68.846 183.699 66,834 184.554 T¢)tsl drityndS 14 251545 2$6# The financlal 5tatoments were approved and author forlssue bythe board. Si8ned on behalf of the boanl of theTn Mrs E Fawcett. Chalrperson. Tntstee Mrs C P Gosling. Trustee Oats G¢io{ioJ The notes on page5 8 to 16form part ofthese finandal sw•men
The Askrfgg Foundallon Nots$ to the Flnanclal Statements Y•ar Ended 31•1 De¢embor 2024 (a) G•nernl Infarnon and ba of The A5kryg Foundation Is a Charitable Incorporated Or8anisation in England. In the event of the tharity bein8 wound up. thetrustees have no liability ro contribute to its a55ets and have no personal responsibilltyfor settling its debts and Ilabllftle& The contart addre55 is en in the charity infarniatlon on page l of these than¢lal statements. The ¢harlty ¢onsttiutes a publK benefit enlity as deHb)ed by FRS 102. The finan¢lal statements have been prepared in accordance with A¢¢<Juntin8 and Reporting by tharities.. Statement of Recommended Pra¢ti¢e appllcable to charities preparin8 their accounts In accordance with the Finardal Reporting stsndard appllcable in the UK and Republlc of Ireland tr•su in crober 2019. the Financial Rèportlng Standard applicable in the Unlted Kln8dom and RepublK of Ireland IFRS 1021.the [jriteS Att 2011. and UK GenerallyAccepted A¢untIng Praclic2. The financial ststements have been prepared to give a'true and fairf view and have departed from the Charities (Accounts and Reports) Rè8ulati¢)ns 2008 On to the extent requlred to provide a 'true and fair we. This departurè has involved following the Accounting and Remin8 by Charities: Statement of Recommended Prartice applicable to charitles preparing their actounts li accordance th the Financlal Reportlng Standard applicable in the UK and Republit of Ireland issued in October 2019 ratherthan theA¢countln8 and Reporting bv Charitles: SLitemerf of Recommended Pra¢t•ce effectr¥efr¢m l Aprfl 25 thich ha5 since been wlthdrawn. The financlal statements are prepared on a concern basts under the hlstorical cost conventk7n, modlfied to Inthde certain items at tsir value. The finanoal stalements are pres¢Med In stwling whKh is the functional crnCY ofthe tharity and rounded iothe Marest £ The gnIficant accounting poliues ied in the preparation of these ffinandal statement5 are set tyjt below. These polkles have been consistentr applied to all years Pnted unlessfjther stated. (b) Fynds Unrestrftted lunds are available for use at the di5crth of the trnste8s in fUrthWan ol the general oblectlves ofthe charity thlch have been de4nated for other purrmes. Deslgnated fund5 unre5trKted fuThts that ha¥e been srt aside by the trustees for partlcular purposes. The alm and use of thich deslgnated fund is set fjrt in the n(ts to the ffinantsal ststements. Restritted funds are fund5 whith are to be In accordance with sptcffic restrictions Irwed by donors or thith have been ralsed by the charity for partndar purposes. The cost of raisiThd and administering such funds are thar8ed against the specik fund. The aim and use of eath resiricted fvnd is set out In the notes to the ancial ststements. Ic) Income vecow l incomin8 resources are Inthded in the Statement of nanCIal ActMtse5 (5oFAI when the charlty Is legally entltled to the income after any perforrnance corrflitlDns have been meL the amount be measured reliably and it is kyrtjable that the i1me will be reteived.
The Askrlgg Foundation Notes to the Financlal Stalgm•nts Year Ended 3111 December 2024 For donatlons io be reco8nised the charity wll have been nlfied of the aTrunts and the settlement date In writing. If there are c0n(thticS attached to thè donation and this requires a level of perforniance beforè entitlement can be obtaned then income Is deferred untll those ConditnS are fij1 met or the fulfilment of those conditions is within the control of the charity and it is wobable that they wlll be fuffilled. No amount Is Included in the finantial S&itenwts for volunteer time in line with the SORP. Where pftcticable. 8iFts in kind donated for dlstrllyJtw)n to the benefKiaries of the charity are included In stock and donations in the financlal statements upon reIPt. If it is iry>racticable to assess the fair value at receipt or f the c05tsto undertake such avaluation Outwe any beneffts. then thefair ¥ae is recognlsed as a wmponent of donatlons when it ts dSstrlbuted •id an equr¥alent amount re¢o8nlsed as charitsble expendlbjre. Gifts in Wnd donated for resale are Induded fairvalue. bngthe expected proceedsfrom sale less the expected costs of sale. Wherè Èstimatin8 the falr valut is Prntticable upon reipt It is recognised In sto¢k and 'ln¢ome from other tradlng actllIe. Upon sale. the value of the stock is charged against 'lncome from other tradln8 actlvlties, and the proceeds are recogniseil as'lnc<bme othertrading artivitie<. Where It is impracticable to fairvaluethe Items due to thevoluN of l¢wvakn itemsihtyare not recognised in thefinandal ststements untll they are sold. This income is recoBnised w5thin'lncome from other tradlng artOvitle<. Fixed asset 8ifts in kind are recolDed when rKeivableand are induded at fairvalue.They are not deferred over the life of the asseL For le8aciès. entft]èment is the earller of the Charity bel notified of an impend5ng dlstrtbutlon or the le8a¢y being received. At this point income 15 rec(yni5ed. On occ10n legac1 be notified to the charlty howwer It Is not posslble to measure the amount ey•e¢ted to be distributed. On these occaSk>. the lega¢y Is treoted as a wntingent asset and disclosed. Income from tradin8 actsvilles inthdes ina)me eamed from fundraising events and tradlng artlvltles to ralse funds forthe charlty. Income is recelved In exthan8eftrsupplyin8 8oods and services in orderto raise funds and is recognised vthen entitlement has occurred. Income from government and other grants are recognlsed at falr value tthen the charfty has ÈntitlÈment after any perfomiance condltions have been met It Is probab that the income wlll be re¢eived and the amount can b• measured relialv. If ntitlèmÈnt is met then these amounts are deferred. Investment Income is eamed th[gh holdlng assets for Investment purposes such as shares and property. It Includes dfvldends, interest and rent whe it is Mt watticable to identrfy investment management costs Incurrtd within a schtme ¥rith rtasonable atturnty thè investment in¢ome 15 reported net of these costs. It Is induded when the amount ran be measured reliabty. Interest income 15 recognised usi1 the effective interest method and dlvidend and rent income 15 recogn1 as the thèri$ T1 to re1ve payment is establithed. Other Income intludes the converswjn of endowmtht funds irto income arises when capltal funds are released to an income fund from expendableendowments orwhen a tharityhasauthorityto adopl a total retum approach to pemwnentendty•m)entfund. Ital Indudes otherlncome such as ga)s on disposa150f tsnglble fixed assets.
The Askrlgg Foundatlon Not•8 to tho Flnanclal Statements Year Ended 311t December 21)24 (d) Ewdkurn r•c(wiltlon All expenditure is atctsunted for on an actruals basis and has been dasslfied under headin that arelate all costs related to the category. Expendlture is recognised wherethere is a legal or constructive obligation to make payments to third partles. St Is probable that the setdement wll be required and the arnount of the obligation can be measured reliabty. It is catewsed Underthefolowl heading5: Costs of ralsing funds: Expenthture on ¢haritsble artI¥it. Overheads & adrnlnistralive costs I1reVerab1e VAT is charyed as an expense a8ainstthe actl¥lty forwhlth expenditure arose. Grants payable to third parties are within the dritab0biettNe Where unconditional 8rantsare offered. this Is accrued as soon as the redpient Is notifd of the granL as thls gS¥es rlse to a rèasonable expectatSorb that the redplent will recefj the grants. Where grants are cond5tlonal relatln8 to pethmance then the 8rant Is only accrued when any unfuffilled conditions are outslde of thecontrol of the tharity. {•) Tanilbl• f•d asse Tan8Sble fixed assets are stated at c¢)st lor dtemod costl or valuatlon IS accumulated depredatlon and ac¢umulated impairment e5. C05t indude5 Costs directy attributable to rnakin8 the a55et capable of ¢Jperatmg as intended. Assets under constnjction aredewedated when t1 are brought knto use. Depreciation is provided on al talble fixed assets at rntes calojlated to write off the ¢OSL less estimated residual value. of each asset ¢)n a systematic basi5 over its ex1 useful life as folk)ws: Freehold bulldings Fixtures and fittlngs 2%stralBht line 25% rèducHW balante Investments are recognised initialfy at c(tst *thlch 15 normalty the transacllon prKe including transactlon costs. Subsequèntly, they ar• MeaSud atfair value with changes rewnised in'net 83ins I Ilossesl on Investments, in the SOFA if the share5 are publicly traded or their fair value can otherwise be measured reliably. Other investments are measUd at cost less impa1rnnt. Current asset investrnents are shortterm highly liquld WNe5tnts and are hekl at falrvalue. These Indude cash on deposit and cash equivalents with a maturlty of less than year. Debtors and credttors no statsd interest rats are receivable or payable wlthln om year are recorded at trnnsa¢tlon price. Any losses arisin8 from inwalrnnt are recognised in expenditu.
Tha Askrlgg Foundatlon Notes to the Flnanclal Stalements Y•ar Ended 31" Decwnber 2024 (h) Loans and bo¢rty•kn Loans and borrowlngs are InIalty rec¢gMed at the transaction prke Ib)dudlngtransaction costs. (11 Impakmnt Assets not measured atfairvalue are reviewed forany 1ndkaOn thattheasset may be impaired at each balance sheet date. If suth indication exists. the recoverabje amth*)t of the asset, or the asseys wh geratIng unit, is estimated aNJ compared to the carryw)8 amounL Where the Cany1 amount exceeds Its recover4ble amoun¢ an Impakmertt loss Is reeognlsed in profft or Ios5 unle55 the asset is carried at a revalued amount where the Irfwiment l0s$15 a revaluation Ilecrease. {k) Pravlslons Provisions are recognlsed whenthecharity has an oblytion atthe balance sheet date as a resu of a past event, it is probable that an oufflow of economic beftefrts will be required in settlemenl and the amount can be reliably estimated. Assets acquired uThJerfinance leases are ca&Ntalised and depreciated over the shorter of the lease temi and the expected useful lrfe of the asseL Minimum lease payments are apportooned between the finance tharge and the reduction of the outstanding lease Ilabilty uskng the effeCte Interest Metd. The related obligations. net of future finance thar8es. are induded in creditors. Renta15 payable and receivable under operatiw leases are charged to the SOFA on a stralght Ilne basb over the period of the lease. {m) Tax The charity is an exempt charity rythin the meaning of $ddle 3 of the Charltle5 Art 2011 and Is o)nsldered to pass the tests set out In Paragraph I Sthedule 6 Finan Art 2010 aNI therefore it meets the deflnitlort of a dbaritablecompany for UK cOrp10n tax purp(raes. In) Golni The finandal ststements have been prepared on a going cO•M basi5 a5 the trustees believe that no materlal uncertainties exFSt. The trustees have considered the level of fvnd5 held and the expetted level of income and expenditure for 12 month5 from authorisingthese financial ststements. The bud8eted income ar expenditure Is sufflcient wlth the level of rerVeS forthe thartty to be able to continue as a going concern. Pfopwty Income 2024 2023 Commerclal unll Residential unht 4.2 IS,047 4,200 14.510 19.247 1&710 li
Tho Askrlgg Foundauon Notes lo the Flnanclal Stat•monts Yur Ended 3111 December 2024 2024 2023 Donailon5 24 No reStrlctlor were applied to the abovedonatTrons. 2024 2023 Dividends Bank intere 204 201 20 234 221 Income from investrnents was £23412023- £221}All of thtth was attributable to restricted reserves Grwrt Sncom No grant income was received thring trve•r. The trustees neither received Thjr waived any remuneration durithe year. Internst payable •nd slml¥ 2024 2023 The tharlty 8ank- mort8aie Interest 9.134 8.783 9.134 8.783 12
The Askrlgg Foundatlon Notes to the Flnanclal Statements Year Endgd 31¥t December 2024 Crhead & IdNltratIjft msts 2024 2023 funds Thd5 Light & heat Repairs & renèwals Insurance Accountsncy & examlnefs fees Legal & professiond fees Bank charges Mortgage interest Depreciation Sundry 31 325 574 1.376 457 740 85 520 74 427 471 9.134 7,253 17) 9.134 7.253 io 18.61)7 8.783 7,253 136 18.938 210 18.397 Land and bulldin8S Total Cost or v*uatlon: At I"January 2024 Additions Dlsposats 362.624 362,624 At 31" December 2024 361624 362,624 Depreclatlon: At 1$1 January 2024 Char8e for the year Ellmlnated on di5POsa15 At 31$$ December 2024 19.945 7,253 19,945 7.253 27.198 27.198 Net book value.. At 31" December 2024 335A26 335.426 At 311¢ December 2023 342.679 342.679 The Freehold land & bJiklin85. known as Askru Housè. Main Street have been pledsed as security for the mortgage borrowfin8s. The property74vasconverted affordable led hous1 which wa5 completed in March 2021. The yoperties have a p05t devdopmént value of £350,000 - £360.000. the value belng dlminlshed by a section 106 local occupancy restrKtM>n. The propertles are Iured for a rebulld sum of £1.102.$00 forthe year comnCIng pl Marth 2025.
The Askrlgg Foundatlon Notos to the Flnanc5al Statements Yaar Ended 31 Decemb•r 2024 io Debti>r% 2024 2023 Prepayments 11 In¥estments 2024 2023 Other lnvestrnw-CO1F Income Unlts 7.497 7.332 7.497 7,332 The fair value of listed investments is detemiined by the bid prKe at the balance sheet dats. The revaluion rnovemwt over the year amounted to an uplift of£165. 2024 2023 Bank mort8a8e Trade ¢redltors cwals Rent reb¥ed vi advance 1,788 1.764 1,038 426 L030 3.252 3,192 The mortgage is seuJred by a thar8e over the property tyed by the ¢harlty. 2024 2023 Bank mort8a8• 106.096 107.916 1(*.096 107,916 The mortgage Is secured by a charge the propeity by the chartty. 14
The Askrlgg Foundatlon Notes to the Flnanclal Statoments Year End•d 31•1 Decwnber 2024 Balance at Galns/ 11055esl Balance at 31. December 2024 Income Expendtture Transfers January 2024 Unrestrlrted fvnds Restrlcted bursary knd5 54 175 2.057 1183971 (2101 165 68.846 251.388 19.599 118.6071 165 252.545 escri al Unre#rl¢ted fvnds Unrestrltted are unrestrkted and can be at the Trustee5 discre in the furthernnce of the charitles otyertlves. bl fl•51rkt Ir$fvnd The burwy fund5 wve orylnally raised by Makolm Stonestree¢ vkar of Askryg. The funds wwe ralsed to supportvisits to Low Mlll thr bwiies for di5athntaged dmldren. IS Ah•tys15 ofn•t4ss•ts between fwM15 funds 2024 funds 2024 Totsl 2024 Fixed assets Debtors Investments Cash at bank Creditors wtthin one year Credltors after year 281.664 457 53.762 335.426 457 7.497 18,513 13.2521 1106.0%) 7.497 7.587 10,926 13.2521 1106.0961 Total 183.699 68046 252.545
The Askrlgg Foundatlon Notes lo th• Flnanclal Statsments Yèar Ended 311¢ Decemb•r 2024 Unrestricted frjnds 2023 fuDds 2023 Total 2023 Fixed assets Debtors Investments Cash at bank Creditors within one year Creditors aftw one year 288.917 53.762 342,679 7.332 5.7410 7.33Z 12,403 13.1681 1107,9401 6,663 13.1681 11079401 Total Is454 251,388 16 Relat•d party There are no felated party transartions durln8 the period or the cOMparatr period. 16