THE SIMON BACK HETHERSETT CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Charity number: 1196086
THE SIMON BACK HETHERSETT CHARITY
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
CONTENTS
| Page | |
|---|---|
| Report of the Trustees | 1 - 3 |
| Receipts and Payments Account | 4 |
| Statement of Assets and Liabilities | 5 |
| Independent Examiner’s Report | 6 |
THE SIMON BACK HETHERSETT CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees are pleased to present their report, together with the financial statements for the year ended 31 October 2023.
Reference and administration details
Charity name: The Simon Back Hethersett Charity Charity registration number: 1196086 Address of charity: Kingfisher House 1 Gilders Way Norwich NR3 1UB Trustees: S H Back (Chair) E J Plumb J H Royall C E Birch Solicitors: Birketts LLP Kingfisher House 1 Gilders Way Norwich NR3 1UB Independent Examiner: M Proctor FCA DChA Lovewell Blake LLP Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
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THE SIMON BACK HETHERSETT CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023
Objectives and activities
The primary purpose of the charity is to generate income from its property in order to distribute funds to charities and other charitable organisations.
Public benefit
The trustees have considered the Charity Commission’s guidance on public benefit. They confirm that in planning and carrying out the charity’s activities they have had regard to this guidance.
Achievements and performance
The trustees have been mindful of building up sufficient reserves from its income to ensure that expenses attributable to the property held by the charity can be met as they arise. The charity has paid grants in the year totalling £3,400 (2022: £Nil), with a further £600 issued, to be settled in the next financial year.
Financial review
Total income for the year ended 31 October 2023 amounted to £12,021 (2022: £16,148). Total expenditure amounted to £10,331 (2022: £10,272).
Reserves policy
The trustees aim to achieve and maintain a minimum free reserves of £2,500, with a preferable amount of £5,000. Free reserves held by the charity at 31 October 2023 totalled £7,566 (2022: £5,876).
Plans for future periods
It is hoped that over time, income will be maintained and further grants will be able to be made.
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THE SIMON BACK HETHERSETT CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 OCTOBER 2023
Structure, governance and management
Governing document
The Simon Back Hethersett Charity is a Charitable Incorporated Organisation, its constitution was registered with the Charity Commission (registration number 1196086) on 8 October 2021.
Appointment and recruitment of Trustees
Trustees have been discussing the potential appointment of another trustee and appropriate candidates will be considered in due course.
Trustees’ induction and training
All new trustees will be provided with copies of the charity’s constitution. The trustees are encouraged to read Charity Commission guidelines notes CC3 – “The Essential Trustee: what you need to know, what you need to do”. In addition, trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
Related parties
During the period Mr S H Back, trustee of the charity, paid for legal and professional fees on behalf of the charity of £1,276 (2022: £9,103, plus the transfer of the property worth £310,000). The charity also incurred legal and professional fees from Birketts LLP for £2,907 (2022: £9,470) and Brown & Co. for £2,189 (2022: £802). Mr J Royall, a trustee of the charity, is a partner of Birketts LLP. Mr E Plumb and Mr C Birch are partners of Brown & Co.
Signed on behalf of the trustees
S H Back (Chair)
30 April 2024
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THE SIMON BACK HETHERSETT CHARITY
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2023
Unrestricted Funds £ Receipts Donations and legacies 1,276 Rental income 10,740 Bank interest 5 Total receipts 12,021 Payments Grant donations 3,400 Bank charges 57 Rental commission 1,289 Property maintenance 518 Professional fees 3,807 Independent examiner’s fees 1,260 Total payments 10,331 Net receipts 1,690 Cash and bank balances at 31 October 2022 5,876 Cash and bank balances at 31 October 2023 7,566 |
Total 2023 £ 1,276 10,740 5 12,021 3,400 57 1,289 518 3,807 1,260 10,331 1,690 5,876 7,566 |
Total 2022 £ 9,471 6,677 - 16,148 - - 802 - 9,470 - 10,272 5,876 - 5,876 |
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THE SIMON BACK HETHERSETT CHARITY
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 OCTOBER 2023
Cash funds Bank current account Rental income bank account Investment assets Investment property |
Unrestricted Funds 2023 2022 £ £ 3,979 - 3,587 5,876 7,566 5,876 2023 2022 £ £ 310,000 310,000 |
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The investment property was valued at £310,000 as of the date of transfer to the charity by Brown & Co – Property and Business Consultants, on 29 September 2022. This valuation is considered appropriate as at 31 October 2023.
Other assets
| Prepayments Gift Aid accrued Liabilities Independent examination and accountancy Legal and professional fees Donation commitments Deferred rental income |
2023 £ 236 319 555 2023 £ 1,260 1,214 600 418 3,492 |
2022 £ - - - 2022 £ 1,260 910 - 418 2,588 |
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These financial statements were approved by the Trustees on 30 April 2024 and are signed on their behalf by:
S H Back (Chair)
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
THE SIMON BACK HETHERSETT CHARITY
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 October 2023 which are set out on pages 5 to 6.
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records.
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.
M Proctor FCA DChA Lovewell Blake LLP Chartered Accountants Independent examiner Norwich
2 May 2024
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