2022-12-31-accounts - The Ogilvie Charities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

The Ogilvie Charities Financial Statements

For the Period 19 October 2021 to 31 December 2022

Charitable Incorporated Organisation Registration Number: 1196197 Registered Provider of Social Housing Number: A2819

haineswatts.co.uk

..................................................................................................................................................................

THE OGILVIE CHARITIES

FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

INCORPORATING THE FOLLOWING LINKED CHARITIES

THE OGILVIE CHARITIES (DEED NO.1) – CHARITY REGISTRATION NUMBER 1196197-1 THE OGILVIE CHARITIES (DEED NO.2) – CHARITY REGISTRATION NUMBER 1196197-2 THE CHARITY OF MARY CATHERINE FORD SMITH – CHARITY REGISTRATION NUMBER 1196197-4 MARGARET CHAMPNEY REST AND HOLIDAY FUND – CHARITY REGISTRATION NUMBER 1196197-5 CHARITY OF ESTELLA MICHAELA LOUISA CANZIANI – CHARITY REGISTRATION NUMBER 1196197-6 STRAITENED CIRCUMSTANCES (1961) FUND – CHARITY REGISTRATION NUMBER 1196197-7

	CONTENTS
1 – 7	Report of the Trustees
8 – 9	Independent Auditor’s Report
10	Statement of Financial Activities
11	Balance Sheet
12	Cash Flow Statement
13 – 25	Notes to the Accounts
26	Linked Charities – Summary Statement of Financial Activities
27	Linked Charities – Summary Balance Sheet
The following	pages do not form part of the statutory financial statements
28	Detailed Statement of Financial Activities – Deed No.1
29	Detailed Balance Sheet – Deed No.1
30	Property Revenue Account – Ogilvie Homes
31	Property Revenue Account – Ogilvie Almshouses
32	Property Revenue Account – Charles May House
33	Property Revenue Account – Estella House
34	Income and Expenditure Account – The Gatehouse

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197 REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

The Trustees present their report along with the financial statements of the charity for the period 19 October 2021 to 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts on pages 13 to 15 and comply with the charity’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 published in October 2019.

INTRODUCTION

On 19 October 2021 the Charity Commission for England and Wales sanctioned a Scheme for the governance and running of the following charities –

Ogilvie Charities (Deed no 1)	Charity No. 211777
Ogilvie Charities (Deed no 2) incorporating	Charity No. 211778
the Charity of Mary Catherine Ford Smith	Charity No. 1080530
Margaret Champney Rest and Holiday Fund	Charity No. 211646
Charity of Estella Michaela Louisa Canziani	Charity No. 262040
Straitened Circumstances (1961) Fund	Charity No. 289922

To this end a new Charitable Incorporated Organisation (CIO) was incorporated on the same date and the existing Trustees of these charities became the Trustees of the CIO. The CIO became the sole Trustee of Ogilvie Charities (Deed No. 1) – whose primary purpose is to hold the endowments of these charities. The net income of this charity (by express permission of the Charity Commission) is granted to The Ogilvie Charities CIO – Charity No 1196197. This Annual Report of the Trustees covers both The Ogilvie Charities CIO and The Ogilvie Charities (Deed No. 1).

The Charity Pauletta Edwards Training and Education Fund (Charity No. 1147233) was dissolved on 31 December 2021 and its assets and liabilities were transferred to The Ogilvie Charities.

These transfer of assets and liabilities took place on 1 January 2022 and there was no economic activity in this charity between 19 October 2021 and 31 December 2021. Thus, the first year’s accounts for the charity are some 14 months in duration but only contain 12 month’s income and expenditure (1 January 2022 to 31 December 2022).

The following Charities continue to exist legally but are dormant having no income and expenditure, assets and/or liabilities other than £100 cash. Their former activities are all accounted for in The Ogilvie Charities.

Ogilvie Charities (Deed no 2) incorporating	Charity No. 211778
the Charity of Mary Catherine Ford Smith	Charity No. 1080530
Margaret Champney Rest and Holiday Fund	Charity No. 211646
Charity of Estella Michaela Louisa Canziani	Charity No. 262040
Straitened Circumstances (1961) Fund	Charity No. 289922

Throughout this lengthy process the Board of Trustees was advised by Bates Wells & Braithwaite London LLP of 10 Queen Street Place, London, EC4R 1BE.

REFERENCE AND ADMINISTRATIVE DETAILS

The Trustees who served during the period ended 31 December 2022 and to the date of this report were as follows:

Chairman: Belinda Grant – from May 2023

Richard Aynsley-Smith Patricia Lawton – Appointed May 2022 Simon Gibbs Felicity Lowe – Resigned May 2023 Edward Wright – Chairman until May 2023 John Ogilvie – Appointed May 2022 Patrick Grieve – Resigned March 2022 Peter Ogilvie D. Allan Howell – Resigned March 2022 Marie Sigsworth – Appointed May 2023

General and Financial Manager: Mrs Gillian Galvan Main Office: The Gate House, 9 Burkitt Road, Woodbridge, Suffolk IP12 4JJ Charity Registration Number: 1196197

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197 REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 (CONTINUED)

REFERENCE AND ADMINISTRATIVE DETAILS (continued)

Registered Social Landlord Number: A2819 Auditors: Haines Watts Town Wall House, Balkerne Hill, Colchester, Essex CO3 3AD Bankers: CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent ME19 4JQ Investment Advisers: Messrs. Investec Wealth & Investment, 30 Gresham St., London EC2V 7QN and Messrs. CCLA Investment Management Ltd, Senator House 85 Queen Victoria Street, London EC4V 4ET

OBJECTIVES AND ACTIVITIES

Objects

The objects of The Ogilvie Charities are primarily for the relief of need by reason of youth, age, ill-health, disability, poverty, financial hardship or other disadvantage including, but not limited to, by the provision of social housing in the form of almshouses and other sheltered housing accommodation and grants of money for providing or paying for items, services or facilities. Secondly to further the objects of any charity situated in Suffolk, Essex or any London Borough; or charity established in England or Wales which is primarily for the benefit of people normally resident in Suffolk, Essex or any London Borough.

Significant activities

During the period ended 31 December 2022 the Charity managed four almshouse sites in Suffolk and Essex to provide fifty seven almshouse properties for people in need of housing and provided grants to individuals and charitable organisations.

Public benefit

These activities are considered to be for the public benefit and in running the Charity the Trustees have regard for the Charity Commission guidance on public benefit.

LINKED CHARITIES

The Ogilvie Charities encompasses a number of linked charities that share this Trustees’ Report and single set of aggregated financial statements. The linked charities share the same charity number as The Ogilvie Charities and have the same Trustees.

The following active linked charities each share the same objectives as The Ogilvie Charities and are all governed in accordance with a scheme dated 8 December 2021:

The Ogilvie Charities (Deed no 1) – charity number 1196197-1 The Ogilvie Charities (Deed no 2) – charity number 1196197-2 The Charity of Mary Catherine Ford Smith – charity number 1196197-4 Margaret Champney Rest and Holiday Fund – charity number 1196197-5 Charity of Estella Michaela Louisa Canziani – charity number 1196197-6 Straitened Circumstances (1961) Fund - charity number 1196197-7

ACHIEVEMENT AND PERFORMANCE

Almshouse Provision

The upkeep of the Charities’ buildings and the general welfare of the occupants are monitored daily by Scheme Managers, some of whom live on site and who are accountable to the General Manager.

Letters of appointment are issued to new beneficiaries selected against published criteria. Commencing in 2012, in view of the prevailing economic climate, the Trustees decided to allow residents at the Ogilvie Almshouses to work a maximum of 15 hours per week in paid employment to supplement their pensions, should they so wish.

During 2022 the occupancy rates have been as follows:

Ogilvie Homes 96.65 per cent Ogilvie Almshouses 98.64 per cent Charles May House 100.00 per cent Estella House 100.00 per cent

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197 REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 (CONTINUED)

ACHIEVEMENT AND PERFORMANCE (continued)

Almshouse Provision (continued)

The Trustees and staff of The Ogilvie Charities continue to take precautions following the COVID-19 pandemic where necessary following NHS guidance. Vacancy levels have improved considerably since the pandemic however, with the rising costs of fuel and the general cost of living the Trustees are mindful of keeping vacancies to a minimum and also that some of our residents may require financial support towards their accommodation charges and fuel bills where these are not included within these charges.

It is the Trustees plan to carry out internal decoration of all their properties on a 7-year rolling basis, however, in reality some of our older residents are loathe to be disturbed by redecorations when they are settled into their homes, and unless there is a compelling reason to do so the charity is respectful of their wishes. With the few vacant properties which have occurred naturally during the period, the Charity has been able to carry out full internal redecoration as they have arisen. In 2022 two flats were redecorated internally and one wet room had the flooring replaced.

At Ogilvie Homes redecoration was also made to the internal doors and windows of the Sunley Wing and the external porch cappings of the Allen Wing were replaced and decorated. At Charles May House, the main boiler in the building formerly known as St. Mary’s Cottage was replaced.

The Ogilvie Homes welcomed five new residents (three single persons and one couple) and Ogilvie Almshouses welcomed three new residents (one single person and one couple). One resident from Ogilvie Homes moved to live elsewhere and the Trustees noted with regret the death of one resident from Ogilvie Homes.

The residents, who value their independence, are encouraged to join in the social activities on site and in the local community. Those residents requiring caring attention are able to receive this in their homes from Social Services and other external caring agencies.

At the 31 December 2022 the accommodation occupancy was:

Accommodation Ogilvie Homes Ogilvie Almshouses Charles May House Estella House	Single males 4 8 1 1	Single females 14 6 9 3	Couples 6 5 0 0	Average age Total 80 yrs 9 m 30 79 yrs 2 m 24 81 yrs 8 m 10 74 yrs 11m 4

Previous to their admissions these residents were:-

us to their admissions these residents were:-
Ogilvie Homes Ogilvie Almshouses Charles May House Estella House	Living locally 20 19 7 3	Moved from other
		other areas to be near relatives 10 5 3 1

The Ogilvie Trustees have continued to maintain accommodation charges at a reasonable level. Using guidelines published by the Almshouse Association for calculating management and maintenance rates and Fair Rent, charges were kept below the level viewed as appropriate by the Fair Rent Officers to determine the level of accommodation charges.

The accounts show a planned operating deficit at Ogilvie Homes which reflects the Trustees allowing some staffing costs not to be recovered by way of service charges to beneficiaries who can be so assisted in accordance with the original intention of the donor.

There were no referrals to the Independent Housing Ombudsman in 2022 .

Relief of Need Through Grants

In 2021 the Trustees, when considering the change to a CIO, wanted to continue supporting the types of people and groups they believed would be favoured by the founders by directing their activities to the relief of need in the first instance with a secondary object allowing a wider class of beneficiary. However, in the immediate future the charitable trusts of Ogilvie Charities (Deed No. 2), the Charity of Estella Canziani, the Charity of Mary Smith, the Straitened Circumstances (1961) Fund and the Margaret Champney Rest and Holiday Fund will not be dissolved but will be retained as dormant charities.

The Trustees now distribute grants under four main headings; essential living items, holidays for carers, education and training and specific charitable projects.

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197

REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 (CONTINUED)

ACHIEVEMENT AND PERFORMANCE (continued)

Relief of Need Through Grants (continued)

47 grants totalling £16,753 were made in 2022 towards essential living items such as beds, bedding, washing machines, cookers, fridges and freezers. The majority of these grants were made to people living in the London area with the next largest area for grants being the North of England.

27 grants totalling £9,876 were made in 2022 towards holidays for carers. These holidays are intended to give emotionally and physically worn out carers a break away either from the caring role completely or from the usual day to day monotony with a change of scenery. The majority of these grants were made to people living in the Midlands area with the North of England being the next largest area.

3 grants totalling £3,629 were made in 2022 towards education and training. This fund supports deprived and/or disadvantaged children and young adults to obtain training and/or education.

24 grants totalling £22,000 were made to organisations towards specific charitable projects. 2 for Suffolk, 3 for Essex, 14 in London and 5 elsewhere, but benefitting people living in Suffolk, Essex or any London Borough.

4 grants totalling £1,200 were also made to organisations who take children resident in any London Borough on a holiday or day out in the countryside.

All of the grants for essential living items, holidays for carers and education and training were made via intermediary statutory organisations and charitable institutions for specifically named individuals during the period. Many of these applications are for people in receipt of Housing Benefit as well as Universal Credits, Income Support, Job Seekers Allowance (JSA) or Educational Support Allowance (ESA), some of whom have been refused grants by the Department of Social Security, a few being offered a loan as an alternative but not being in a position to make repayments by way of deductions from future allowances.

The making of 105 grants throughout this period understates the amount of administrative time spent on this aspect of the Ogilvie Charities work, with the General Manager processing the applications some of which are approved for funding by the Trustees. In an average month the Charity receives numerous applications, a great many of these do not contain sufficient information to allow Trustees to be able to make an adequately informed decision. It is often necessary to seek clarification on the application from the referring agent before it can be approved or refused by Trustees. In 2022, we received over 200 requests for funding of which almost 60 needed further clarification. Historically the majority of applications were from Social Workers for families in need, however, it should be noted that many individual applicants do not now have access to a Social Worker and indeed in some cases Social Work Departments will not accept payment of grants in respect of their clients when funding is available to them. Applications for essential living items and holidays for carers are only accepted from statutory or bona fide voluntary organisations to whom any payments are made with the request that the referring agency undertakes to try to ensure the grant is used for that client and for that specific purpose only.

FINANCIAL REVIEW

Finances and Reserves Policy

Trustees are very aware of the requirements of prospective residents and recognise the importance of maintaining their buildings, not only for the comfort and well-being of the current residents but also for those generations who follow. Trustees view refurbishment and improvements to the Charities’ housing stock as a high priority and will ensure that such works are completed when funds allow.

The Trustees continue to have a close relationship with their financial advisers who are working to maximise the return on our investments whilst maintaining a medium risk strategy.

In 2022 there was an overall surplus of £108,188 on the Charities activities. Full details are shown in the supporting accounting schedules. Total grants made during the period were £53,458. In 2022 the market value of the investments held by The Ogilvie Charities was £6,926,334. Income from these investments during 2022 was £286,210 whilst interest of £5,183 was received for monies held on deposit this period. Due to this being the first period following the restructuring, there are no figures available for comparison to 2021.

Internal financial controls and Financial Reporting comply with the spirit of Housing Corporation circular R2-18/96, and the Trustees Act.

Consistent with the investment policy and having considered the level of expenditure required to maintain their buildings in good order, the Ogilvie Trustees policy on reserves currently held, is to draw on them, as necessary, whilst continuing to meet the remaining objects of the Trust Deed by paying out grants to other named organisations where funds allow.

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197

REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 (CONTINUED)

FINANCIAL REVIEW (continued)

Finances and Reserves Policy (continued)

The Trustees are aware of several large projects that will require funding in the near and semi-distant future. The windows in both the Ogilvie Almshouses (Suffolk) and the rear part of Charles May House (Essex) require replacement and the Trustees would like to replace the current single glazed units with more energy efficient double glazed units. As both of these sites are listed, assistance is being sought from professionals for planning permission and taking these projects forward. Due to the telecommunications industry replacing all analogue lines and upgrading to digital internet-based infrastructure by 2025, there will also be a requirement to upgrade our careline system from analogue to digital which will involve all four sites of sheltered housing before this date. The Trustees are also investigating other energy efficient solutions such as solar panels, retrofitting insulation and ground and/or air source heating to save on heating costs which could take all of our almshouses into a more ecologically sound future.

Investment Powers

The Trustees employed the services of Messrs. Investec Wealth & Investment in 2022 to manage their discretionary investment portfolio. The Trustees have signed an investment policy document with their investment advisers to ensure, by utilising a medium risk strategy, the creation of sufficient income and capital growth to enable the Charity to carry out its purpose consistently year on year, subject to annual review. During 2022 a transfer of investments and assets to CCLA Investment Management Ltd commenced. The remaining assets will be moved from Investec in 2023.

In 2012 the Trustees decided that some of the proceeds of the sales of the commercial buildings which had been bequeathed to the charity, designated as Mrs. Doreen May’s Bequest, should be invested with CCLA Investment Management Ltd, and units were purchased in the COIF Charities Investment Fund. This investment was retained in 2022.

In 2022 the Ogilvie Trustees have continued to hold authorised investments of funds in accordance with the law of England at a level to maintain income and capital growth which will enable the Charity to carry out its purpose. It is the view of the Ogilvie Trustees that the Charity's assets, supported by The Ogilvie Charities (Deed No. 1), are available and adequate to fulfil the obligations of the Charity.

PLANS FOR FUTURE PERIODS

Ogilvie Charities has provided accommodation for older vulnerable beneficiaries in Suffolk since the early 1900s and in Essex since the 1970s. In the present economic climate, the Trustees are very aware of the changing needs of an ageing population and they aspire to continue to provide, safe, affordable and comfortable accommodation to those who wish to live within a caring community. Trustees recognise that as well as a necessity to assist in cases of financial need, other beneficiaries may simply require the reassurance and security provided by living in a sheltered scheme with assistance on hand in the event of an emergency.

The majority of the properties administered by the Ogilvie Trustees are Grade ll listed and as such require careful attention when consideration is given to repairs. The Trustees consider their funds to be sufficient to be able to continue to provide a decent standard of accommodation and care and support to those beneficiaries who require it.

The Trustees are mindful of the continuing changes in the local population and will continue to regularly review their area of benefice to ensure that the charity continues to provide accommodation to those in the greatest need.

STRUCTURE, GOVERENANCE AND MANAGEMENT

Governing Document

The Ogilvie Charities is regulated by The Charities Act 2011 Constitution dated the 18[th] October 2021, which became operational on 1 January 2022. This was done to simplify activities/transactions, and to operate with modern rules of governance.

The Constitution allows the appointment of up to a total of eleven Trustees and there must be a minimum of five; there are currently eight Trustees. New Trustees are appointed by the Board of Trustees and each Trustee shall retire from office at the third Annual Retirement Meeting following the commencement of his or her term of office, however, they may be reappointed. The Trustees may appoint one of their number to be the Chair of the Trustees for such a term of office as they determine.

The Trustees usually hold four main meetings each year, interspersed with meetings of sub committees of Trustees formed to deal with specific areas of interest e.g., grant making, finance, housing etc. All decisions agreed at subcommittee level are taken forward to the main meetings of Trustees to be agreed by the full Board of Trustees.

Annual Attendance at Meetings

The full board of Trustees met five times during 2022. Sub committees met on other occasions between meetings and reports of their deliberations were subsequently received by the full board of Trustees and discussed and approved where necessary.

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197

REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 (CONTINUED)

STRUCTURE, GOVERENANCE AND MANAGEMENT (continued)

Annual Attendance at Meetings (continued)

The following table shows attendance by Trustees – (i) maximum attendance possible (ii) actual attendance (iii) membership of additional (a) finance (b) grants (c) housing strategy committees:

	(i)	(ii)	(iii)
Richard Aynsley Smith	7	6	(a)
Simon Gibbs	5	4	(c)
Belinda Grant	6	6	(b)
Patrick Grieve	2	1	(b) (c)
D. Allan Howell	2	1	(a) (b)
Tricia Lawton	3	3	(c)
Felicity Lowe	7	7	(a)
John Ogilvie	4	3	(b)
Peter Ogilvie	5	3	(c)
Edward Wright	8	7	All committees

Methods adopted for recruitment and appointment of Trustees

In the event that a Trustee retires, a Nominations Sub Committee is appointed to recruit new Trustee(s) who may be attracted by advertisement or by personal contact from Trustees with like minded individuals whose wish is to further the aims of the Charity by the addition of their skills to the panel of Trustees.

Policies and Procedures adopted for the induction and training of Trustees

The induction process for newly appointed Trustees comprises a meeting with the General Manager who provides a brief history of the Charity together with copies of the latest Annual Accounts and Reports, Minutes of previous meetings, and the Constitution. There is a discussion on the role of Trustees and an induction pack which contains a copy of the Charity Commission’s guidance ‘The Essential Trustee’ is provided. This is followed by a meeting with the Chairman and the Board of Trustees, who take into account the skills which a new Trustee can bring to the Board whilst still retaining the ethos of the Charity. The ultimate decision on selection is a matter of agreement amongst all existing Trustees. All Trustees sign a declaration confirming they have read Sections 178-180 of the Charities Act (2011) and are not disqualified from acting as a trustee.

Organisational Structure of the Charity

Trustees give their time freely and no remuneration other than the reimbursement of reasonable travelling expenses was paid in the year. They are assisted in the day-to-day administration of The Ogilvie Charities by a General Manager and an Office Manager who handle and process all applications prior to consideration by the Trustees.

Related Parties

The Ogilvie Charities acts as corporate trustee for six of the other Ogilvie Charities, these are Deed No.1, Deed No. 2, the Charity of Mary Catherine Ford Smith, Estella Canziani's Legacy, the Margaret Champney Rest and Holiday Fund (John E Champney's Trust), the Straitened Circumstances (1961) Fund.

Statement of Major Risks

The Trustees continuously, each and every year examine in detail, sections of the risk assessment policy; following discussion these are updated and/or amended as appropriate.

THE OGILVIE CHARITIES

CHARITABLE INCORPORATED ORGANISATION REGISTRATION NUMBER: 1196197 REGISTERED SOCIAL LANDLORD NUMBER: A2819

ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 (CONTINUED)

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed.

The Trustees are also responsible for safeguarding the assets of the charity and, hence, for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity Commissions website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

30 October 2023

Approved by the Trustees on:

…………………………………………..

Belinda Grant

and signed on their behalf by: …………………………………………… Chairman

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE OGILVIE CHARITIES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

OPINION

We have audited the financial statements of The Ogilvie Charities for the period ended 19 October 2021 to 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Charity’s affairs as at 31 December 2022, and of its incoming resources and application of resources for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISA’s (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

We have nothing to report in respect of the following matters in relation to which the ISA’s (UK) require us to report to you where:

the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the Trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date the financial statements are authorised for issue.

OTHER INFORMATION

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees Annual Report, other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement in the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report is this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
sufficient accounting records have not been kept;
the financial statements are not in agreement with the accounting records and returns; or
• we have not obtained all the information and explanations necessary for the purposes of our audit.

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE OGILVIE CHARITIES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees’ Responsibilities Statement on page 7, the trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intends to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We considered the risk of fraud through management override and in response, we incorporated testing of manual journal entries into our audit approach throughout the financial period.
We also considered the risk of fraud through assumptions and judgements used within accounting estimates and in response, reviewed and scrutinised these estimates in order to detect possible management bias.
We also considered the risk of fraud associated with the preparation of the financial statements and in response, tested the disclosures prepared against relevant supporting documentation.

Our audit did not identify any significant matters relating to the detection of irregularities, including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatement in the financial statements may not be detected owing to inherent limitations of the audit. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

HAINES WATTS

STATUTORY AUDITORS

Town Wall House Balkerne Hill Colchester Essex CO3 3AD

30 October 2023

Haines Watts is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

THE OGILVIE CHARITIES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 483,667 - 203,241	Restricted Funds (Linked Charities) 2022 £ - 409,633 88,346	Total Combined 2022 £ 483,667 409,633 291,587

686,908	497,979	1,184,887
27,512 524,472	130 524,585	27,642 1,049,057
551,984	524,715	1,076,699
134,924 (662,021)	(26,736) (119,093)	108,188 (781,114)
(527,097) 6,998,167	(145,829) 4,040,685	(672,926) 11,038,852
6,471,070	3,894,856	10,365,926
6,471,070	3,894,856	10,365,926

All incoming resources and resources expended derive from continuing activities.

THE OGILVIE CHARITIES

BALANCE SHEET

AS AT 31 DECEMBER 2022

Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 4,004 4,999,884	Restricted Funds (Linked Charities) 2022 £ 2,070,938 1,926,450	Total Combined 2022 £ 2,074,942 6,926,334

5,003,888	3,997,388	9,001,276
3,359 291,570 1,236,859	- 29,227 198,047	3,359 320,797 1,434,906
1,531,788 55,027	227,274 224,355	1,759,062 279,382
1,476,761	2,919	1,479,680
6,480,649 - 9,579	4,000,307 105,451 -	10,480,956 105,451 9,579
6,471,070	3,894,856	10,365,926
6,471,070	3,894,856 -	3,894,356 6,471,570
6,471,070	3,894,856	10,365,926

----- Start of picture text -----
)
)
Belinda Grant )
………………………………………………… )
) TRUSTEES
)
)
Edward Wright )
………………………………………………. )
----- End of picture text -----

These accounts were approved by the Trustees on 30 October 2023

THE OGILVIE CHARITIES

CASH FLOW STATEMENT

FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

Unrestricted Funds Ogilvie Charities (CIO) 2022 £ (527,097) 652 662,021 (198,675) (3,359) (291,570) 55,027	Restricted Funds (Linked Charities) 2022 £ (145,829) 31,133 119,093 (87,535) - (29,227) 223,153	Total Combined 2022 £ (672,926) 31,785 781,114 (286,210) (3,359) (320,797) 278,180

(303,001)	110,788	(192,213)
198,675 (4,656) (3,913,413) 3,915,398	87,535 - (1,403,282) 1,377,271	286,210 (4,656) (5,316,695) 5,292,669
196,004	61,524	257,528
- (2,863)	(1,094) -	(1,094) (2,863)
(2,863)	(1,094)	(3,957)
(109,860) - 1,346,719	171,218 1,373,548 (1,346,719)	61,358 1,373,548 -
1,236,859	198,047	1,434,906
		2022 £ 198,047 - - - - -
		198,047

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

1. INTRODUCTION

The Ogilvie Charities (Charitable Incorporated Organisation) acts as corporate trustee for six of the other Ogilvie Charities, these are Deed No.1, Deed No. 2, the Charity of Mary Catherine Ford Smith, Estella Canziani's Legacy, the Margaret Champney Rest and Holiday Fund (John E Champney's Trust), the Straitened Circumstances (1961) Fund.

With effect from 1 January 2022 the activities, assets and liabilities of The Ogilvie Charities (Deed No.1), The Ogilvie Charities (Deed No. 2), the Charity of Mary Catherine Ford Smith, Estella Canziani's Legacy, the Margaret Champney Rest and Holiday Fund (John E Champney's Trust), the Straitened Circumstances (1961) Fund, and The Pauletta Edwards Education & Training Fund, which has subsequently been removed from the Charity Commission register of charities, have been transferred to The Ogilvie Charities (Charitable Incorporated Organisation), Charity Registration Number 1196197.

All the other Ogilvie Charities have been linked to The Ogilvie Charities under a uniting direction, this took effect from 1 January 2022.

The Ogilvie Charities (Charitable Incorporated Organisation) is the reporting charity and these financial statements are the aggregation for itself and all of the other linked charities. The Ogilvie Charities (Charitable Incorporated Organisation) is disclosed as an unrestricted fund with the Linked Charities being restricted funds and the total amounts being a combination of both unrestricted and restricted funds.

As The Ogilvie Charities (Deed No.1), The Ogilvie Charities (Deed No. 2), the Charity of Mary Catherine Ford Smith, Estella Canziani's Legacy, the Margaret Champney Rest and Holiday Fund (John E Champney's Trust), the Straitened Circumstances (1961) Fund were linked with effect from 1 January 2022 the comparative amounts for the year ended 31 December 2021 are not included in these accounts.

The assets, liabilities and funds as at 31 December 2021 have been introduced as at 1 January 2022 as Transfers Between Funds, as follows:

Funds balances as at 1 January 2022 introduced: Ogilvie Charities (Deed No.1) Ogilvie Charities (Deed No.2) Charity of Mary Catherine Ford Smih Margaret Champney Rest and Holiday Fund Charity of Estella Michaela Louisa Canziani Straitened Circumstances (1961) Fund Pauletta Edwards Educations & Training Fund	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 3,907,537 377,000 403,511 76,093 143,376 872,964 1,217,686 6,998,167	Restricted Funds (Linked Charities) 2022 £ 1,968,328 1,602,100 100 443,961 26,096 100 - 4,040,685		Total Combined 2022 £ 5,875,865 1,979,100 403,611 520,054 169,472 873,064 1,217,686

			11,038,852

2. ACCOUNTING POLICIES (CONTINUED)

The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Charity’s accounts.

a) General Information and Basis of Accounting

The charity’s constitute public benefit entities as defined by FRS 102.

The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The accounts are prepared using the historical cost accounting rules except that investments are shown on the Balance Sheet at their market value.

Component Accounting is not applied since the replacement of those components of the property which have a shorter useful life than the main structure is not capitalised but written off as incurred to the General Fund or the Extraordinary Repair Reserve.

Whilst this charity is a Registered Provider of Social Housing following the issue of new SORPs for both Charities and Registered Providers applicable for accounting periods commencing on or after 1 January 2015, the accounts have been prepared in accordance with the Charity SORP (FRS 102).

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES (CONTINUED)

b) Fund Accounting

Restricted funds are funds received by the Charity for a specific purpose and can only be used for that purpose. Unrestricted funds are available to spend on activities that further any of the purposes of Charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Endowment funds are non-expendable funds which are normally held indefinitely..

c) Going Concern

The accounts are prepared on the going concern basis as there are no material uncertainties about the Charity’s ability to continue.

d) Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate.Donations and other voluntary income are reflected in the accounts for the period in which they are received. Donations in kind are recognised by the Charity when received except in the case of services provided free or undervalue by voluntary staff or others which are not reflected in the accounts.

e) Interest Received

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.

f) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

g) Repairs and Maintenance of Properties

The charges in the Statement of Financial Activities in respect of Cyclical Maintenance and Extraordinary Repairs reflect the Trustees’ constant concern to keep the properties in good condition and are in accordance with the Almshouse Associations’ recommendation that Almshouse Charities should set aside each year specific sums in this respect. Transfers are made from the General Fund each year to the Extraordinary Maintenance Fund to cover extraordinary repairs as they arise and to the Cyclical Maintenance Fund to cover repairs which arise on a cyclical basis.

h) Support Costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. A proportion of headquarters direct employee, administration, investment management and operating expenses is charged to the Trust based on the anticipated time and cost of staff employed thereon. These costs are then allocated to the Statement of Financial Activities on the basis of the time and cost of the staff employed on each of the functions of the Charity.

i) Tangible Fixed Assets

Housing Properties

Properties included in the housing properties are stated at cost.

Plant and Machinery and Computer Equipment

Expenditure of a capital nature costing less than £500 is not capitalised but written off to the Statement of Financial Activities as incurred.

j) Depreciation

Tangible fixed assets are depreciated on the straight line or reducing balance method at rates calculated to write off the assets over their estimated useful lives. The rates used are as follows:

Housing Properties - 1% straight line - Plant and Machinery 10% straight line - Computer Equipment 33.33% straight line

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES (CONTINUED)

k) Investments

Investments are shown on the Balance Sheet at their market value. Changes in market values during an accounting period are reflected in the accounts as unrealised gains or losses. Upon disposal of an investment the difference between original cost and disposal proceeds is reflected in the accounts as a realised gain or loss and an adjustment is made to unrealised gains or losses to reverse unrealised movements in value in earlier years.

l) Debtors

Contributions and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any discounts due.

m) Cash at Bank

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Creditors and Provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

o) Financial Instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

p) Taxation

The Charity is exempt from tax on its charitable activities.

3. DONATIONS AND LEGACIES

Gift from Ogilvie Charities (Deed No.1) Donations INCOME FROM CHARITABLE ACTIVITIES Almshouse Income Contributions Due Losses from Voids Guest Room Rents	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 483,167 500 483,667 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ - - - - -	Restricted Funds (Linked Charities) 2022 £ - - - Restricted Funds (Linked Charities) 2022 £ 417,172 (8,429) 408,743 890 409,633		Total Combined 2022 £ 483,167 500
				483,667
				Total Combined 2022 £ 417,172 (8,429)

				408,743 890
				409,633

4. INCOME FROM CHARITABLE ACTIVITIES

5. INVESTMENT INCOME

VESTMENT INCOME
Dividends Receivable from Listed Investments Bank Deposit Account Interest Receivable Royalties	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 198,675 4,372 194 203,241	Restricted Funds (Linked Charities) 2022 £ 87,535 811 - 88,346	Total Combined 2022 £ 286,210 5,183 194

			291,587

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

6. RAISING FUNDS

6.	RAISING FUNDS
7.	Investec Investment Management Costs EXPENDITURE ON CHARITABLE ACTIVITIES Grants and Allowances Gift to Ogilvie Charities Grants to Institutions Grants to Individuals Support Costs Almshouse Costs Salaries and wages Rates and Water Light and Heat Insurance Current Repairs and Maintenance Cyclical Repairs Extraordinary Repairs Garden and Grounds Maintenance Careline Telephone and Printing Social and Recreational Amenities Healthcare of Residents Cleaning Professional Fees Sundry Expenses Loan Interest Depreciation Support Costs	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 27,512 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ - 23,200 30,258 53,458 18,145 71,603 145,473 24,810 85,865 7,867 38,918 5,045 10,822 8,193 6,974 3,090 4,714 1,300 1,308 596 4,422 - 652 350,049 102,820 452,869 524,472	Restricted Funds (Linked Charities) 2022 £ 130 Restricted Funds (Linked Charities) 2022 £ 483,167 - - 483,167 - 483,167 - - - - - - - - - - - - - - 10,252 31,133 41,385 33 41,418 524,585	Total Combined 2022 £ 27,642
				Total Combined 2022 £ 483,167 23,200 30,258

				536,625 18,145
				554,770
				145,473 24,810 85,865 7,867 38,918 5,045 10,822 8,193 6,974 3,090 4,714 1,300 1,308 596 4,422 10,252 31,785
				391,434 102,853
				494,287

				1,049,057

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

8. SUPPORT COSTS

8.	SUPPORT COSTS
9.	Headquarters Administration Costs Salaries and wages Rent Rates Light and Heat Insurance Repairs and Replacement Equipment Garden Maintenance Telephone and Internet Printing, Postage and Stationery Software Licences Subscriptions Sundry Expenses Governance Costs Auditors Remuneration Legal and Professional Fees Trustees’ Expenses Bank Charges Exchange Rate Gains The Supports Costs are allocated as follows: Grants and Allowances Almshouse Costs NET INCOME/(EXPENDITURE) FOR THE PERIOD This is stated after charging: Auditor’s Remuneration: Audit Fees Accountancy Fees and Other Services	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 66,021 7,350 516 2,777 696 1,484 161 1,327 1,944 1,646 1,118 145 85,185 22,504 8,352 4,734 629 (439) 120,965 18,145 102,820 120,965 Unrestricted Funds Ogilvie Charities (CIO) ( 2022 £ 10,800 11,704 22,504	Restricted Funds (Linked Charities) 2022 £ - - - - - - - - - - - - - - - - 33 - 33 - 33 33 Restricted Funds Linked Charities) 2022 £ - - -		Total Combined 2022 £ 66,021 7,350 516 2,777 696 1,484 161 1,327 1,944 1,646 1,118 145
					85,185 22,504 8,352 4,734 662 (439)
					120,998
					18,145 102,853
					120,998
				Total Combined 2022 £ 10,800 11,704

				22,504

10. TRUSTEES REMUNERATION AND BENEFITS

No trustees were remunerated the period 19 October 2021 to 31 December 2022.

Trustees’ expenses includes Trustees reimbursed travelling expenses of £3,254 paid to the ten Trustees during the period 19 October 2021 to 31 December 2022.

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

11. STAFF COSTS

STAFF COSTS
Wages and Salaries Social Security Costs Employers Pension Contributions Staff costs are allocated as follows: Almshouse Costs Headquarters Administration Costs The average monthly number of employees during the period Administrative Staff Housing Staff – Ogilvie Homes and Almshouses Housing Staff – Charles May House and Estella	Unrestricted Funds Ogilvie Charities Restricted Funds (CIO) (Linked Charities) 2022 2022 £ £ 188,943 - 10,706 - 11,845 - 211,494 - 145,473 - 66,021 - 211,494 - 19 October 2021 to 31 December 2022 were: 2 - 8 - 2 - 12 -	Total Combined 2022 £ 188,943 10,706 11,845
		211,494
		145,473 66,021
		211,494
		2 8 2
		12

No employees received emoluments in excess of £60,000 during the period 19 October 2021 to 31 December 2022.

The General Manager is regarded as key management personnel and her total employee benefits were £43,151 for the period 19 October 2021 to 31 December 2022.

12. TANGIBLE FIXED ASSETS

COST Additions At 31 December 2022 DEPRECIATION Charge for the period At 31 December 2022 NET BOOK VALUE At 31 December 2022		Plant and Machinery 2022 £ 2,357 2,357 158 158 2,199	Computer Equipment 2022 £ 2,299 2,299 494 494 1,805	Ogilvie Charities (CIO) Total 2022 £ 4,656 4,656 652 652 4,004	Ogilvie Charities (CIO) Total 2022 £ 4,656 4,656 652 652 4,004

					4,656
					652
					652
					4,004

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

12. TANGIBLE FIXED ASSETS (CONTINUED)

NGIBLE FIXED ASSETS (CONTINUED)
COST Introduced as at 1 January 2022: Ogilvie Charities (Deed No.1) Charity of Estella Michaela Louisa Canziani At 31 December 2022 DEPRECIATION Introduced as at 1 January 2022: Ogilvie Charities (Deed No.1) Charity of Estella Michaela Louisa Canziani Charge for the period At 31 December 2022 NET BOOK VALUE At 31 December 2022	Housing Properties
	Restricted Funds (Linked Charities) 2022 £ 2,846,368 41,317 2,887,685 770,293 15,321 785,614 31,133 816,747 2,070,938

		2,887,685
		770,293 15,321
		785,614 31,133
		816,747
		2,070,938

13. INVESTMENTS

Listed Investments Introduce investments as at 1 January 2022: Ogilvie Charities (Deed No.1) Ogilvie Charities (Deed No.2) Charity of Mary Catherine Ford Smih Margaret Champney Rest and Holiday Fund Charity of Estella Michaela Louisa Canziani Straitened Circumstances (1961) Fund Pauletta Edwards Educations & Training Fund Transfers as at 1 January 2022 Additions at cost Disposal proceeds Revaluation gains/(losses) Market value at end of the period The cost or valuation as at 31 December 2022 is represented by: Cost Accumulated revaluation gains	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ - - - - - - - - 5,663,890 5,663,890 3,913,413 (3,915,398) (662,021) 4,999,884 4,895,219 104,665 4,999,884	Restricted Funds (Linked Charities) 2022 £ 3,109,379 1,837,132 366,925 442,638 78,996 770,452 1,077,900 7,683,422 (5,663,890) 2,019,532 1,403,282 (1,377,271) (119,093) 1,926,450 1,819,223 107,227 1,926,450	Total Combined 2022 £ 3,109,379 1,837,132 366,925 442,638 78,996 770,452 1,077,900


			7,683,422 -
			7,683,422 5,316,695 (5,292,669) (781,114)
			6,926,334
			6,714,442 211,892
			6,926,334

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

14. STOCKS

14.	STOCKS
15. 16. 17. 18.	Stock of Heating Oil at Ogilvie Almshouses DEBTORS AND PREPAYMENTS Contributions in Arrears Linked Charities The Ogilvie Charities – CIO Prepayments and Accrued Income CASH AT BANK AND IN HAND CAF Bank Current Account CAF Bank Gold Deposit Account COIF Deposit Account Investec Wealth & Investment Accounts Petty Cash CREDITORS: amounts falling due within one year Orchardbrook Limited Loan (see note 19) Contributions in Received in Advance Trade Creditors Linked Charities The Ogilvie Charities – CIO Accruals and Deferred Income CREDITORS: amounts falling due in more than one year Orchardbrook Limited Loan (see note 19)	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 3,359 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ - 216,966 - 74,604 291,570 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 158,998 962,035 57,627 57,984 215 1,236,859 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ - - 10,766 500 - 43,761 55,027 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ -	Restricted Funds (Linked Charities) 2022 £ - Restricted Funds (Linked Charities) 2022 £ 3,723 - 500 25,004 29,227 Restricted Funds (Linked Charities) 2022 £ 18,118 90,166 89,529 234 - 198,047 Restricted Funds (Linked Charities) 2022 £ 1,202 3,617 - - 216,966 2,570 224,355 Restricted Funds (Linked Charities) 2022 £ 105,451	Total Combined 2022 £ 3,359
				Total Combined 2022 £ 3,723 216,966 500 99,608
				320,797
				Total Combined 2022 £ 177,116 1,052,201 147,156 58,218 215
				1,434,906
				Total Combined 2022 £ 1,202 3,617 10,766 500 216,966 46,331
				279,382
				Total Combined 2022 £ 105,451

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

19. LOANS

Housing Loans originally from the Housing Corporation (now known as the Regulator of Social Housing) have been assigned to Orchardbrook Limited and are administered by Link Mortgage Services Limited. The loans are secured by specific charges on the Charity’s housing properties and are repayable at varying rates of interest in instalments as follows:

Due within one year Due within one to two years Due within two to five years Due in more than five years	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ - - - - -	Restricted Funds (Linked Charities) 2022 £ 1,202 1,320 4,794 99,337 106,653	Total Combined 2022 £ 1,202 1,320 4,794 99,337


			106,653

20. PENSION SHORTFALL PROVISION

The Pensions Trust – The Growth Plan

The Ogilvie Charities – CIO participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the United Kingdom. It is not possible for the Ogilvie Charities – CIO to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the Ogilvie Charities – Deed No.2 is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit Contributions

From 1 April 2022 to 30 September 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustees the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

£11,243,000 per annum From 1 April 2019 to 30 September 2025:

(payable monthly and increasing by 3% each on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the Ogilvie Charities – CIO has agreed to a deficit funding arrangement the Ogilvie Charities – CIO recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

20. PENSION SHORTFALL PROVISION (CONTINUED)

Present Values of Provision Present value of provision Reconciliation of Opening and Closing Provisions Provision introduced as at 1 January 2022 from The Ogilvie Charities – Deed No.2 Unwinding of the discount factor (interest expense) Deficit contribution paid Remeasurements – impact of any change in assumptions Remeasurements – amendments to the contribution schedule Provision at end of period Statement of Financial Activities Impact Interest expense Remeasurements – impact of any change in assumptions Remeasurements – amendments to the contribution schedule Assumptions Rate of discount (% per annum)	2022 £ 9,579
	2022 £ 12,442 - (2,863) - -
	9,579
	2022 £ - - -
	2022 4.96

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

The following schedule details the deficit contributions agreed between the Ogilvie Charities – CIO and the scheme at each year end period:

Deficit Contributions Schedule

		2022
		£
Year	1	1,202
Year	2	1,202
Year	3	100
Year	4	-
Year	5	-
Year	6	-
Year	7	-
Year	8	-
Year	9	-
Year	10	-

The Ogilvie Charities – CIO must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the Statement of Financial Activities i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the Ogilvie Charities – CIO Balance Sheet liability.

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

	Fixed	Assets	Net Current
	Tangible		Assets less	Pension
	Fixed		Long Term	Shortfall
	Assets	Investments	Loans	Provision	Total
	£	£	£	£	£
The Ogilvie Charities – CIO
Unrestricted Funds:
Extraordinary Maintenance Fund	-	227,670	143,921	-	371,591
Cyclical Maintenance Fund	-	9,454	106,698	-	116,152
General Fund	4,004	4,762,760	1,226,142	(9,579)	5,983,327
	4,004	4,999,884	1,476,761	(9,579)	6,471,070
Linked Charities
Endowment Funds:
Permanent Endowment Funds	-	1,926,450	3,621	-	1,930,071
Restricted Funds:
Social Housing Grant Funds	641,438	-	-	-	641,438
Bernard Sunley Foundation Grant Fund	37,324	-	-	-	37,324
Quaker Housing Trust Grant Fund	3,720	-	-	-	3,720
Deed No.2 Grant Fund	187,674	-	-	-	187,674
Unrestricted Funds:
Property Equity Reserve	1,200,782	-	(106,653)	-	1,094,129
General Funds	-	-	500	-	500
	2,070,938	1,926,450	(102,532)	-	3,894,856

	2,074,942	6,926,334	1,374,229	(9,579)	10,365,926

22. MOVEMENT IN FUNDS

The Ogilvie Charities – CIO Unrestricted Funds: Extraordinary Maintenance Fund Cyclical Maintenance Fund General Fund Linked Charities Endowment Funds: Permanent Endowment Fund Restricted Funds: Social Housing Grant Funds Bernard Sunley Foundation Grant Fund Quaker Housing Trust Grant Fund Deed No.2 Grant Fund Unrestricted Funds: Property Equity Reserve General Fund	Net Movement In Funds £ (39,409) (6,068) (481,620) (527,097) (115,790) - - - - (31,133) 1,094 (145,829) (672,926)	Transfer Between Funds Fund Balances Transfer Introduced Between At 01.01.22 Funds £ £ 369,040 41,960 86,254 35,966 6,542,873 (77,926) 6,998,167 - 2,045,861 - 651,413 (9,975) 37,926 (602) 3,780 (60) 190,701 (3,027) 1,110,504 14,758 500 (1,094) 4,040,685 - 11,038,852 -		At 31.12.22 £ 371,591 116,152 5,983,327

				6,471,070
				1,930,071 641,438 37,324 3,720 187,674 1,094,129 500
				3,894,856

				10,365,926

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

22. MOVEMENT IN FUNDS (CONTINUED)

The net movement in funds, included in the above are as follows:

The Ogilvie Charities – CIO Unrestricted Funds: Extraordinary Maintenance Fund Cyclical Maintenance Fund General Fund Linked Charities Endowment Funds: Permanent Endowment Funds Restricted Funds: Social Housing Grant Funds Bernard Sunley Foundation Grant Fund Quaker Housing Trust Grant Fund Deed No.2 Grant Fund Unrestricted Funds: Property Equity Reserve General Fund		Incoming Resources £ - - 686,908 686,908 3,433 - - - - - 494,546 497,979 1,184,887		Resources Expended £ (10,855) (5,045) (536,084) (551,984) (130) - - - - (31,133) (493,452) (524,715) (1,076,699)		Investment Gains and Losses) £ (28,554) (1,023) (632,444) (662,021) (119,093) - - - - - - (119,093) (781,114)		Net Movement In Funds £ (39,409) (6,068) (481,620)	Net Movement In Funds £ (39,409) (6,068) (481,620)

									(527,097)
									(115,790) - - - - (31,133) 1,094
									(145,829)

									(672,926)

The funds and reserves of The Ogilvie Charities – CIO are as follows:

Extraordinary Maintenance Fund

A transfer is made each year from the General Fund to the Extraordinary Repair Fund. Details of how the transfer is calculated can be found in note 2(g). The Reserve is unrestricted but designated by the Trustees to cover the cost of extraordinary repairs as they arise. Part of the Reserve is specifically invested with any capital growth in these investments added to the reserve.

Cyclical Maintenance Fund

A transfer is made each year from the General Fund to the Cyclical Maintenance Fund. Details of how the transfer is calculated can be found in note 2(g). The Reserve is unrestricted but designated by the Trustees to cover the cost of cyclical repairs as they arise. Part of the Reserve is specifically invested with any capital growth in these investments added to the reserve.

General Fund

The balance on this Reserve represents accumulated surpluses of the Charity. The Reserve is unrestricted and available for the general purposes of the Charity. Capital growth on General Fund Investments is added to the Reserve.

The funds and reserves of the Linked Charities are as follows:

Permanent Endowment Fund

The Endowment Reserve is permanent non-expendable endowment and is specifically invested. Income from these investments is available for the general purposes of the Charity. Capital growth in the investments is added to the Reserve.

Social Housing Grant Fund

The Social Housing Grant Fund is a restricted fund and represents various grants received from the Housing Corporation totalling £971,688 in connection with the various housing property improvements at the Ogilvie Homes, Ogilvie Almshouses and Charles May House less attributable depreciation charged to date.

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022

22. MOVEMENT IN FUNDS (CONTINUED)

Bernard Sunley Foundation Grant Fund

The Bernard Sunley Foundation Grant Fund is a restricted fund and represents a grant of £50,000 received in the year ended 31 December 2000 in connection with housing property improvements at the Ogilvie Homes less attributable depreciation charged to date.

Quaker Housing Trust Grant Fund

The Quaker Housing Trust Grant Fund is a restricted fund and represents a grant of £5,000 received in the year ended 31 December 2000 in connection with housing property improvements at the Ogilvie Homes less attributable depreciation charged to date.

Ogilvie Charities – Deed No.2 Grant Fund

The Ogilvie Charities – Deed No.2 Grant Fund is a restricted fund and represents grants received in the years ended 31 December 2000 and 2001 totalling £250,000 in connection with the housing property improvements at the Ogilvie less attributable depreciation charged to date.

Property Equity Reserve

The Reserve represents the cost of the housing properties financed by the Charity’s own resources, this being the cost of the housing properties less the balance of outstanding loan capital.

General Fund

The balance on this Reserve represents the general income less expenditure of the Charity. Any surplus for the year is gifted to The Ogilvie Charities – CIO.

23. RELATED PARTY TRANSACTIONS

The Ogilvie Charities (CIO) and the linked charities, Deed No.1, Deed No. 2, Charity of Mary Catherine Ford Smith, Estella Canziani’s Legacy, Margaret Champney Rest and Holiday Fund and Straitened Circumstances (1961) Fund, are collectively known as “The Ogilvie Charities”. The Ogilvie Charities (CIO) acts as corporate trustee for the other Ogilvie Charities linked charities.

During the period ended 31 December 2022 The Ogilvie Charities – Deed No.1 made a gift to The Ogilvie Charities (CIO) of £483,167.

At the Balance Sheet date The Ogilvie Charities (CIO) was owed £216,966 by The Ogilvie Charities – Deed No.1 and this amount is included in debtors and creditors respectively.

At the Balance Sheet date £100 was owed to each of Deed No. 2, Charity of Mary Catherine Ford Smith, Estella Canziani’s Legacy, Margaret Champney Rest and Holiday Fund and Straitened Circumstances (1961) Fund by The Ogilvie Charities and the total amount of £500 is included in debtors and creditors respectively.

24. COMMITMENTS UNDER OPERATING LEASES

The total future minimum lease payments due under non-cancellable operating leases are as follows: Due within one year 25.FINANCIAL COMMITMENTS Authorised but Not Contracted for: External redecoration of the Ogilvie Almshouses	Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 6,125 Unrestricted Funds Ogilvie Charities (CIO) 2022 £ 91,000	Restricted Funds (Linked Charities) 2022 £ - Restricted Funds (Linked Charities) 2022 £ -	Total Combined 2022 £ 6,125
			Total Combined 2022 £ 91,000

LINKED CHARITIES – SUMMARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Restricted Charitable Charitable Charitable Fund Activities Activities Activities Gains/(Losses) Transfers Balances Almshouses Investment Raising Funds Grants and Almshouses on Between Carried Income Income Expenditure Allowances Expenditure Investments Funds Forward £ £ £ £ £ £ £ £ 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,185 3,894,356 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100	LINKED CHARITIES – SUMMARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Restricted Charitable Charitable Charitable Fund Activities Activities Activities Gains/(Losses) Transfers Balances Almshouses Investment Raising Funds Grants and Almshouses on Between Carried Income Income Expenditure Allowances Expenditure Investments Funds Forward £ £ £ £ £ £ £ £ 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,185 3,894,356 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100	LINKED CHARITIES – SUMMARY STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Restricted Charitable Charitable Charitable Fund Activities Activities Activities Gains/(Losses) Transfers Balances Almshouses Investment Raising Funds Grants and Almshouses on Between Carried Income Income Expenditure Allowances Expenditure Investments Funds Forward £ £ £ £ £ £ £ £ 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,185 3,894,356 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100 - - - - - - 100 100	3,894,856	Total £ 4,040,185 100 100 100 100 100 -	Total £ 4,040,185 100 100 100 100 100 -	Total £ 4,040,185 100 100 100 100 100 -	4,040,685
			85	Fund Balances Transferred to the Ogilvie Charities CIO at 01/01/2022 £ (3,907,537) (377,000) (403,511) (76,093) (143,376) (872,964) (1,217,686)			(6,998,167)
Between	Funds £ 4,040,1 1 1 1 1 1		4,040,6	Fund Balances

				Fund Balances Transferred to/(from) The Ogilvie Charities as at 01/01/2022 £ 2,071,857 (1,602,000) - (443,861) (25,996) - -			-
on Investments £ (119,093) - - - - -			(119,093)	Fund Balances Transferred to/(from) The Ogilvie Charities as at 01/01/2022

			)	TRANSFERS BETWEEN FUNDS Fund Balances Introduced From Ogilvie Charities as at 01/01/2022 £ 5,875,865 1,979,100 403,611 520,054 169,472 873,064 1,217,686 11,038,852
	e	8 - - - - -	8	Fund Balances Introduced From Ogilvie	Charities as a	01/01/2022
lmshouse	xpenditur	£ (41,41	(41,41	Fund Balances
	E
			409,633 88,346 (130) (483,167)

LINKED CHARITIES – BALANCE SHEET FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Fixed Assets Tangible Creditors: Creditors: Assets Debtors Cash at Amounts Amount due Housing and Bank and due within in more than Properties Investments Prepayments in Hand One Year One Year Net Assets £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 2,070,938 1,926,450 28,727 198,047 (224,355) (105,451) 3,894,356 Deed No.2 - - 100 - - - 100 The Charity of Mary Catherine Ford Smith - - 100 - - - 100 Margaret Champney Rest and Holiday Fund - - 100 - - - 100 Estella Canziani’s Legacy - - 100 - - - 100 Straitened Circumstances (1961) Fund - - 100 - - - 100 2,070,938 1,926,450 29,227 198,047 (224,355) (105,451) 3,894,856 The above net assets are represented by the following funds and reserves: Restricted Funds Unrestricted Funds Bernard The Ogilvie Permanent Social Sunley Quaker Charities Property Endowment Housing Foundation House Trust Deed No.2 Equity General Total Fund Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 641,438 37,324 3,720 187,674 1,094,129 - 3,894,356 Deed No.2 - - - - - - 100 100 The Charity of Mary Catherine Ford Smith - - - - - - 100 100 Margaret Champney Rest and Holiday Fund - - - - - - 100 100 Estella Canziani’s Legacy - - - - - - 100 100 Straitened Circumstances (1961) Fund - - - - - - 100 100 1,930,071 641,438 37,324 3,720 187,674 1,094,129 500 3,894,856	LINKED CHARITIES – BALANCE SHEET FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Fixed Assets Tangible Creditors: Creditors: Assets Debtors Cash at Amounts Amount due Housing and Bank and due within in more than Properties Investments Prepayments in Hand One Year One Year Net Assets £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 2,070,938 1,926,450 28,727 198,047 (224,355) (105,451) 3,894,356 Deed No.2 - - 100 - - - 100 The Charity of Mary Catherine Ford Smith - - 100 - - - 100 Margaret Champney Rest and Holiday Fund - - 100 - - - 100 Estella Canziani’s Legacy - - 100 - - - 100 Straitened Circumstances (1961) Fund - - 100 - - - 100 2,070,938 1,926,450 29,227 198,047 (224,355) (105,451) 3,894,856 The above net assets are represented by the following funds and reserves: Restricted Funds Unrestricted Funds Bernard The Ogilvie Permanent Social Sunley Quaker Charities Property Endowment Housing Foundation House Trust Deed No.2 Equity General Total Fund Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 641,438 37,324 3,720 187,674 1,094,129 - 3,894,356 Deed No.2 - - - - - - 100 100 The Charity of Mary Catherine Ford Smith - - - - - - 100 100 Margaret Champney Rest and Holiday Fund - - - - - - 100 100 Estella Canziani’s Legacy - - - - - - 100 100 Straitened Circumstances (1961) Fund - - - - - - 100 100 1,930,071 641,438 37,324 3,720 187,674 1,094,129 500 3,894,856	LINKED CHARITIES – BALANCE SHEET FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Fixed Assets Tangible Creditors: Creditors: Assets Debtors Cash at Amounts Amount due Housing and Bank and due within in more than Properties Investments Prepayments in Hand One Year One Year Net Assets £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 2,070,938 1,926,450 28,727 198,047 (224,355) (105,451) 3,894,356 Deed No.2 - - 100 - - - 100 The Charity of Mary Catherine Ford Smith - - 100 - - - 100 Margaret Champney Rest and Holiday Fund - - 100 - - - 100 Estella Canziani’s Legacy - - 100 - - - 100 Straitened Circumstances (1961) Fund - - 100 - - - 100 2,070,938 1,926,450 29,227 198,047 (224,355) (105,451) 3,894,856 The above net assets are represented by the following funds and reserves: Restricted Funds Unrestricted Funds Bernard The Ogilvie Permanent Social Sunley Quaker Charities Property Endowment Housing Foundation House Trust Deed No.2 Equity General Total Fund Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 641,438 37,324 3,720 187,674 1,094,129 - 3,894,356 Deed No.2 - - - - - - 100 100 The Charity of Mary Catherine Ford Smith - - - - - - 100 100 Margaret Champney Rest and Holiday Fund - - - - - - 100 100 Estella Canziani’s Legacy - - - - - - 100 100 Straitened Circumstances (1961) Fund - - - - - - 100 100 1,930,071 641,438 37,324 3,720 187,674 1,094,129 500 3,894,856	LINKED CHARITIES – BALANCE SHEET FOR THE PERIOD 19 OCTOBER 2021 TO 31 DECEMBER 2022 Fixed Assets Tangible Creditors: Creditors: Assets Debtors Cash at Amounts Amount due Housing and Bank and due within in more than Properties Investments Prepayments in Hand One Year One Year Net Assets £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 2,070,938 1,926,450 28,727 198,047 (224,355) (105,451) 3,894,356 Deed No.2 - - 100 - - - 100 The Charity of Mary Catherine Ford Smith - - 100 - - - 100 Margaret Champney Rest and Holiday Fund - - 100 - - - 100 Estella Canziani’s Legacy - - 100 - - - 100 Straitened Circumstances (1961) Fund - - 100 - - - 100 2,070,938 1,926,450 29,227 198,047 (224,355) (105,451) 3,894,856 The above net assets are represented by the following funds and reserves: Restricted Funds Unrestricted Funds Bernard The Ogilvie Permanent Social Sunley Quaker Charities Property Endowment Housing Foundation House Trust Deed No.2 Equity General Total Fund Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 641,438 37,324 3,720 187,674 1,094,129 - 3,894,356 Deed No.2 - - - - - - 100 100 The Charity of Mary Catherine Ford Smith - - - - - - 100 100 Margaret Champney Rest and Holiday Fund - - - - - - 100 100 Estella Canziani’s Legacy - - - - - - 100 100 Straitened Circumstances (1961) Fund - - - - - - 100 100 1,930,071 641,438 37,324 3,720 187,674 1,094,129 500 3,894,856	3,894,856	Total Funds £ 3,894,356 100 100 100 100 100	3,894,856
				(105,451)	ed Funds General Fund £ - 100 100 100 100 100	500
				5)	trict	1,094,129
	due within	One Year	£ (224,35	(224,35	Unres Property

				198,047	The Ogilvie Charities Deed No.2 Grant Fund £ 187,674 - - - - -	187,674
				29,227	ed Funds Quaker House Trust Grant Fund £ 3,720 - - - - -	3,720
				1,926,450	Restrict Bernard Sunley Foundation Grant Fund £ 37,324 - - - - -	37,324
				8	Social Housing Grant Fund £ 641,438 - - - - -	641,438
Assets Housing		ropertie	£ 2,070,93	2,070,93	Social Housing

THE OGILVIE CHARITIES – DEED NO.1