2023-12-31-accounts - The Ogilvie Charities

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The Ogilvie Charities Financial Statements

For the Year Ended 31 December 2023

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

haineswatts.co.uk

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THE OGILVIE CHARITIES

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 – 28	Notes to the Accounts
29 – 30	Linked Charities – Summary Statement of Financial Activities
31 – 32	Linked Charities – Summary Balance Sheet
The following	pages do not form part of the statutory financial statements
33	Detailed Statement of Financial Activities – Deed No.1
34	Detailed Balance Sheet – Deed No.1
35	Property Revenue Account – Ogilvie Homes
36	Property Revenue Account – Ogilvie Almshouses
37	Property Revenue Account – Charles May House
38	Property Revenue Account – Estella House
39	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 YEAR ENDED 31 DECEMBER 2023

The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2023. 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.

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. 1196197-2 the Charity of Mary Catherine Ford Smith Charity No. 1196197-4 Margaret Champney Rest and Holiday Fund Charity No. 1196197-5 Charity of Estella Michaela Louisa Canziani Charity No. 1196197-6 Straitened Circumstances (1961) Fund Charity No. 1196197-7

REFERENCE AND ADMINISTRATIVE DETAILS

The Trustees who served during the period ended 31 December 2023 and to the date of this report were as follows:

Chairman: Belinda Grant – from May 2023

Richard Aynsley-Smith		John Ogilvie
Simon Gibbs		Peter Ogilvie
Patricia Lawton		Marie Sigsworth – Appointed May 2023
Felicity Lowe – Resigned	May 2023	Edward Wright – Chairman until 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
Registered Social Landlord Number:	A2819

THE OGILVIE CHARITIES

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

ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 (CONTINUED)

REFERENCE AND ADMINISTRATIVE DETAILS (continued)

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. CCLA Investment Management Ltd, Senator House 85 Queen Victoria Street, London EC4V 4ET and Messrs. M&G Securities Ltd, 10 Fenchurch Street, London, EC3M 5AG

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 (for those that can live independently) 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 2023 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. Full details are to be found on pages 3 and 4 of this report.

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 with the CIO being their sole corporate trustee.

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

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 2023 the occupancy rates have been as follows:

Ogilvie Homes 93.17 per cent Ogilvie Almshouses 100.00 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 YEAR ENDED 31 DECEMBER 2023 (CONTINUED)

ACHIEVEMENT AND PERFORMANCE (continued)

Almshouse Provision (continued)

Vacancy levels have improved considerably since the COVID-19 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. Where the fuel bills are included within the accommodation charges, the Trustees agreed to subsidise the increase by up to 50% just for this portion of their charges following the annual increase on 3[rd] April 2023.

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 2023 five homes were redecorated internally with one of these also having a new kitchen.

At Ogilvie Almshouses the external redecoration of all the woodwork, excluding the windows, was started and approximately half of this was completed before the onset of winter. This will continue in 2024.

The Ogilvie Homes welcomed three new residents. Five residents from Ogilvie Homes moved to live elsewhere and the Trustees noted with regret the death of one resident from Ogilvie Homes and one resident from Ogilvie Almshouses.

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 2023 the accommodation occupancy was:

Accommodation Ogilvie Homes Ogilvie Almshouses Charles May House Estella House	Single males 4 8 1 1	Single females 13 7 9 3	Couples 5 4 0 0	Average age Total 81 yrs 9 m 27 79 yrs 6 m 23 82 yrs 8 m 10 75 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 19 19 7 3	Moved from other
		other areas to be near relatives 8 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 as reflected in the Charity Commission Scheme.

There were no referrals to the Independent Housing Ombudsman in 2023 .

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.

The Trustees 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 YEAR ENDED 31 DECEMBER 2023 (CONTINUED)

ACHIEVEMENT AND PERFORMANCE (continued)

Relief of Need Through Grants (continued)

31 grants totalling £9,473 were made in 2023 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 areas for grants being the North of England and the Midlands.

40 grants totalling £14,672 were made in 2023 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 London and the surrounding area being the next largest.

5 grants totalling £8,416 were made in 2023 towards education and training. This fund supports deprived and/or disadvantaged children and young adults to obtain training and/or education.

26 grants totalling £28,000 were made to organisations towards specific charitable projects. 4 for Suffolk, 1 for Essex, 15 in London and 6 elsewhere, but benefitting people living in Suffolk, Essex or any London Borough.

4 grants totalling £4,500 were also made to organisations who take deprived children from inner cities 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 106 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 2023, we received 160 requests for funding of which nearly 50 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 and/or bona fide 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 meet periodically with the Charities Investment Managers. The Trustees have adopted a medium risk profile for its investments.

In 2023 there was an overall surplus of £8,140 on the Charities activities. Full details are shown in the supporting accounting schedules. Total grants made during the period were £65,061. At the end of 2023 the market value of the investments held by The Ogilvie Charities was £7,404,193 an increase of nearly 6.9% since the start of the year. Income from these investments during 2023 was £247,962 whilst interest of £44,578 was received for monies held on deposit this period. Investment income was a reduction of 13.36% from the amount received in 2022 due to a change in investment manager, but the interest received was a large increase of 760% from the 2022 figures, purely down to the jump in interest rates at the end of 2022.

Internal finanial 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 YEAR ENDED 31 DECEMBER 2023 (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 has been sought from professionals for planning permission with the latter being granted in January 2024 for the work at Ogilvie Almshouses. This project must be started within 3 years of the permission being granted and the application is now well underway to obtain the planning permission required for Charles May House. Due to the telecommunications industry replacing all analogue lines and upgrading to digital internet-based infrastructure by 2025, there may also be a requirement for some upgrades to our careline system from analogue to digital which will involve all four sites of sheltered housing before this date. The Trustees are also intending to investigate 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

By the end of 2023 the charity’s investment portfolio was managed by CCLA and M & G Charifund. The transfer from the former investment manager, Investec Wealth and Investment Limited was undertaken in 2022 and 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 2023.

In 2023 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, GOVERNANCE 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 four times during 2023. 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 YEAR ENDED 31 DECEMBER 2023 (CONTINUED)

STRUCTURE, GOVERNANCE 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	5	5	(a)
Simon Gibbs	4	4	(c)
Belinda Grant	6	5	All committees
Tricia Lawton	4	3	(c)
Felicity Lowe	2	2	(a)
John Ogilvie	5	5	(b)
Peter Ogilvie	4	2	(c)
Marie Sigsworth	3	2
Edward Wright	5	5	(a)

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 YEAR ENDED 31 DECEMBER 2023 (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.

21 May 2024

Approved by the Trustees on:

…………………………………………..

Belinda Grant

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

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE OGILVIE CHARITIES FOR THE YEAR ENDED 31 DECEMBER 2023

OPINION

We have audited the financial statements of The Ogilvie Charities for the year ended 31 December 2023 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 2023, 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

29 May 2024

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 YEAR ENDED 31 DECEMBER 2023

Notes	Unrestricted And Restricted Funds Ogilvie Charities (CIO) 2023 £ 504,345 - 213,565	Restricted Funds (Linked Total Charities) Combined 2023 2023 2022 £ £ £ 500 504,845 483,667 435,768 435,768 409,633 78,975 292,540 291,587

4 5 6 7 8 15 1
	717,910	515,243 1,233,153 1,184,887
	3,879 675,960	- 3,879 27,642 545,174 1,221,134 1,049,057
	679,839	545,174 1,225,013 1,076,699
	38,071 329,964	(29,931) 8,140 108,188 102,127 432,091 (781,114)
	368,035 -	72,196 440,231 (672,926) - - 11,038,852
	368,035 6,471,070	72,196 440,231 10,365,926 3,894,856 10,365,926 -
	6,839,105	3,967,052 10,806,157 10,365,926

All incoming resources and resources expended derive from continuing activities.

THE OGILVIE CHARITIES

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes	Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 £ 16,625 5,375,454	Restricted Funds (Linked Total Charities) Combined 2023 2023 2022 £ £ £ 2,039,805 2,056,430 2,074,942 2,028,739 7,404,193 6,926,334

14 15 16 17 18 19 20 22 23 24
	5,392,079	4,068,544 9,460,623 9,001,276
	3,997 174,474 1,315,892	- 3,997 3,359 19,311 193,785 320,797 108,185 1,424,077 1,434,906
	1,494,363 46,068	127,496 1,621,859 1,759,062 124,857 170,925 279,382
	1,448,295	2,639 1,450,934 1,479,680
	6,840,374 - 1,269	4,071,183 10,911,557 10,480,956 104,131 104,131 105,451 - 1,269 9,579
	6,839,105	3,967,052 10,806,157 10,365,926
	497,394 6,341,711	3,967,052 4,464,446 4,382,599 - 6,341,711 5,983,327
	6,839,105	3,967,052 10,806,157 10,365,926

) ) Belinda Grant ) ………………………………………………… ) ) TRUSTEES ) ) Edward Wright ) ………………………………………………. )

These accounts were approved by the Trustees on 21 May 2024

THE OGILVIE CHARITIES

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2023

NET CASH FLOW FROM OPERATING ACTIVITIES Net Income/(Expenditure) Depreciation of Fixed Assets (Gains)/Losses on Investments Dividends from Investments and Interest Decrease/(Increase) in Stocks Decrease/(Increase) in Debtors (Decrease)/Increase in Creditors (exc. Loans) (Decrease)/Increase in Provisions Cash Provided by/(Used) by Operating Activities CASH FLOW FROM INVESTING ACTIVITIES Dividends from Investments and Interest Purchase of Tangible Fixed Assets Purchase of Investments Proceeds from Sale of Investments Cash Provided by/(Used) by Investing Activities CASH FLOW FROM FINANCING ACTIVITIES Repayment of Loans Cash Used by Financing Activities INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR INTRODUCE NET CURRENT ASSETS LESS LIABILITIES AS AT 1 JANUARY 2022 (EXC LOANS) CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR ANALYSIS OF CHANGES IN NET FUNDS NET CASH – CASH AT BANK AND IN HAND At beginning of the year Introduced as at 1 January 2022 Cash flow At end of the year DEBT – HOUSING LOANS At beginning of the year Introduced as at 1 January 2022 Cash flow At end of the year NET FUNDS At beginning of the year At end of the year		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 £ 368,035 1,763 (329,964) (213,565) (638) 117,096 (8,959) (8,310)	Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 £ 368,035 1,763 (329,964) (213,565) (638) 117,096 (8,959) (8,310)	Restricted Funds (Linked Total Charities) Combined 2023 2023 2022 £ £ £ 72,196 440,231 (672,926) 31,133 32,896 31,785 (102,127) (432,091) 781,114 (78,975) (292,540) (291,587) - (638) (3,359) 9,916 127,012 (320,797) (99,616) (108,605) 278,180 - (8,310) (2,863)	Total Combined

			(74,542)	(167,473) (242,045) (200,453)
			213,565 (14,384) (1,273,000) 1,227,394	78,975 292,540 291,587 - (14,384) (4,656) (656,000) (1,929,000) (5,316,695) 655,838 1,883,232 5,292,669
			153,575	78,813 232,388 262,905
			-	(1,202) (1,202) (1,094)
			-	(1,202) (1,202) (1,094)
			79,033 1,236,859 -	(89,862) (10,859) 61,358 198,047 1,434,906 - - - 1,373,548
			1,315,892	108,185 1,424,077 1,434,906
			1,236,859 - 79,033	198,047 1,434,906 - - - 1,373,548 (89,862) (10,859) 61,358
			1,315,892	108,185 1,424,077 1,434,906
			- - -	(106,653) (106,653) - - - (107,747) 1,202 1,202 1,094
			-	(105,451) (105,451) (106,653)
			1,236,859	91,394 1,328,253 -
			1,315,892	2,734 1,318,626 1,328,253

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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, were 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 a combination of unrestricted and restricted funds.

As the other six Ogilvie Charities are Linked Charities of the Ogilvie Charities (CIO) they are disclosed as restricted funds of the CIO as required by the Charities Statement of Recommended Practice (SORP) and represent a combination of endowment, unrestricted and restricted funds.

The assets, liabilities and funds as at 31 December 2021 were 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 Smith Margaret Champney Rest and Holiday Fund Charity of Estella Michaela Louisa Canziani Straitened Circumstances (1961) Fund Pauletta Edwards Educations & Training Fund	Unrestricted and Restricted Funds Ogilvie Charities (CIO) £ 3,907,537 377,000 403,511 76,093 143,376 872,964 1,217,686 6,998,167	Restricted Funds (Linked Charities) £ 1,968,328 1,602,100 100 443,961 26,096 100 - 4,040,685		Total Combined £ 5,875,865 1,979,100 403,611 520,054 169,472 873,064 1,217,686

			11,038,852

2. ACCOUNTING POLICIES

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).

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.

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

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 - are depreciated on the straight line method to write off the assets over their estimated useful lives which were considered to vary between 52 and 84 years from the Balance Sheet date. - Plant and Machinery 10% straight line Computer Equipment - 33.33% straight line

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.

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES (CONTINUED)

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 corporation tax on its charitable activities.

3. UNRESTRICTED AND RESTRICTED FUNDS – OGILVIE CHARITIES (CIO)

INCOME AND ENDOWMENTS FROM: Donations and legacies Investment Income EXPENDITURE ON: Raising Funds Charitable Activities SURPLUS/(DEFICIT) NET GAINS/(LOSSES) ON INVESTMENTS NET INCOME/(EXPENDITURE) TRANSFERS BETWEEN FUNDS Introduction of funds Provisions for the year NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total Funds Brought Forward Total Funds Carried Forward	Notes	Unrestricted Restricted Funds Funds Total 2023 2022 2023 2022 2023 2022 £ £ £ £ £ £ 504,345 483,667 - - 504,345 483,667 204,309 203,241 9,256 - 213,565 203,241
	4 6 7 8 11 1
		708,654 686,908 9,256 - 717,910 686,908
		3,879 27,479 - 33 3,879 27,512 578,237 508,605 97,723 15,867 675,960 524,472
		582,116 536,084 97,723 15,900 679,839 551,984
		126,538 150,824 (88,467) (15,900) 38,071 134,924 318,962 (632,444) 11,002 (29,577) 329,964 (662,021)
		445,500 (481,620) (77,465) (45,477) 368,035 (527,097) - 6,542,873 - 455,294 - 6,998,167 (87,116) (77,926) 87,116 77,926 - -
		358,384 5,983,327 9,651 487,743 368,035 6,471,070 5,983,327 - 487,743 - 6,471,070 -
		6,341,711 5,983,327 497,394 487,743 6,839,105 6,471,070

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4. DONATIONS AND LEGACIES

ONATIONS AND LEGACIES
Gift from Ogilvie Charities (Deed No.1) Donations		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 503,200 483,167 1,145 500	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 503,200 483,167 500 - 1,645 500	Total Combined
		504,345 483,667	500 - 504,845 483,667

5. INCOME FROM CHARITABLE ACTIVITIES

Almshouse Income Contributions Due Losses from Voids Guest Room Rents		Unrestricted and Restricted Funds Restricted Funds Total Ogilvie Charities (CIO) (Linked Charities) Combined 2023 2022 2023 2022 2023 2022 £ £ £ £ £ £ - - 449,910 417,172 449,910 417,172 - - (14,880) (8,429) (14,880) (8,429)	Total Combined
		- - 435,030 408,743 435,030 408,743 - - 738 890 738 890
		- - 435,769 409,633 435,769 409,633

6. INVESTMENT INCOME

Dividends Receivable from Listed Investments Bank Deposit Account Interest Receivable Royalties		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 176,485 198,675 37,080 4,372 - 194	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ 71,477 87,535 247,962 286,210 7,498 811 44,578 5,183 - - - 194	Total Combined
		213,565 203,241	78,975 88,346 292,540 291,587

7. RAISING FUNDS

Investec Investment Management Costs		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 3,879 27,512	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - 130 3,879 27,642	Total Combined

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. EXPENDITURE ON CHARITABLE ACTIVITIES

Grants and Allowances Gift to Ogilvie Charities (CIO) Grants to Institutions Grants to Individuals Support Costs (note 9) 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 Health and Safety Sundry Expenses Bad Debts Written Off Loan Interest Depreciation Support Costs (note 9)		Unrestricted and Restricted Funds Restricted Funds Total Ogilvie Charities (CIO) (Linked Charities) Combined 2023 2022 2023 2022 2023 2022 £ £ £ £ £ £ - - 503,200 483,167 503,200 483,167 32,500 23,200 - - 32,500 23,200 32,561 30,258 - - 32,561 30,258	Total Combined
		65,061 53,458 503,200 483,167 568,261 536,625 18,466 18,145 - - 18,466 18,145
		83,527 71,603 503,200 483,167 586,727 554,770
		135,328 145,473 - - 135,328 145,473 34,129 24,810 - - 34,129 24,810 105,377 85,865 - - 105,377 85,865 8,987 7,867 - - 8,987 7,867 44,972 38,918 - - 44,972 38,918 52,666 5,045 - - 52,666 5,045 45,057 10,822 - - 45,057 10,822 17,342 8,193 - - 17,342 8,193 11,278 6,974 - - 11,278 6,974 3,336 3,090 - - 3,336 3,090 4,289 4,714 - - 4,289 4,714 1,578 1,300 - - 1,578 1,300 1,391 1,308 - - 1,391 1,308 11,178 596 - - 11,178 596 6,263 2,899 - - 6,263 2,899 2,861 1,523 - - 2,861 1,523 - - 611 - 611 - - - 10,141 10,252 10,141 10,252 1,763 652 31,133 31,133 32,896 31,785
		487,795 350,049 41,885 41,385 529,680 391,434 104,638 102,820 89 33 104,727 102,853
		592,433 452,869 41,974 41,418 634,407 494,287

		675,960 524,472 545,174 524,585 1,221,134 1,049,057

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9. SUPPORT COSTS

PPORT COSTS
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 Support Costs are allocated as follows: Grants and Allowances Almshouse Costs	Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 64,591 66,021 7,557 7,350 682 516 3,885 2,777 774 696 4,366 1,484 30 161 1,777 1,327 2,087 1,944 1,856 1,646 1,287 1,118 302 145	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 64,591 66,021 - - 7,557 7,350 - - 682 516 - - 3,885 2,777 - - 774 696 - - 4,366 1,484 - - 30 161 - - 1,777 1,327 - - 2,087 1,944 - - 1,856 1,646 - - 1,287 1,118 - - 302 145	Total Combined
	89,194 85,185 20,760 22,504 7,550 8,352 3,701 4,734 91 629 1,808 (439)	- - 89,194 85,185 - - 20,760 22,504 - - 7,550 8,352 - - 3,701 4,734 89 33 180 662 - - 1,808 (439)
	123,104 120,965	89 33 123,193 120,998
	18,466 18,145 104,638 102,820	- - 18,466 18,145 89 33 104,727 102,853
	123,104 120,965	89 33 123,193 120,998

10. NET INCOME/(EXPENDITURE) FOR THE YEAR

T INCOME/(EXPENDITURE) FOR THE YEAR
This is stated after charging: Auditor’s Remuneration: Audit Fees Accountancy Fees and Other Services		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 11,664 10,800 9,096 11,704	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 11,664 10,800 - - 9,096 11,704	Total Combined
		20,760 22,504	- - 20,760 22,504

11. TRUSTEES REMUNERATION AND BENEFITS

No trustees were remunerated the year ended 31 December 2023 or the period 19 October 2021 to 31 December 2022.

Trustees’ expenses includes Trustees reimbursed travelling expenses of £2,117 paid to the nine Trustees during the year ended 31 December 2023 (£3,254 in 2022).

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12. STAFF COSTS

	Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 184,227 188,943 9,015 10,706 6,677 11,845	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 184,227 188,943 - - 9,015 10,706 - - 6,677 11,845
	199,919 211,494	- - 199,919 211,494
	135,328 145,473 64,591 66,021	- - 135,328 145,473 - - 64,591 66,021
	199,919 211,494	- - 199,919 211,494
10 10 - - 10 10

No employees received emoluments in excess of £60,000 during the year ended 31 December 2023.

The General Manager is regarded as key management personnel and her total employee benefits were £42,214 for the year ended 31 December 2023.

13. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted and Restricted Funds Ogilvie Charities (CIO)	Restricted Funds (Linked Charities)	Total Combined

2022	2022	2022
£	£	£

483,667	-	483,667
-	409,633	409,633
203,241	88,346	291,587
686,908	497,979	1,184,887



27,512	130	27,642
524,472	524,585	1,049,057
551,984	524,715	1,076,699

134,924	(26,736)	108,188

(662,021)	(119,093)	(781,114)

(527,097)	(145,829)	(672,926)

6,998,167	4,040,685	11,038,852

6,471,070	3,894,856	10,365,926


6,471,070	3,894,856	10,365,926

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14. TANGIBLE FIXED ASSETS

Plant and Machinery £ 2,357 13,587	Computer Equipment £ 2,299 797		Unrestricted and Restricted Funds Ogilvie Charities (CIO) Total 2023 2022 £ £ 4,656 - 14,384 4,656	Unrestricted and Restricted Funds Ogilvie Charities (CIO) Total 2023 2022 £ £ 4,656 - 14,384 4,656
			2
15,944	3,096			19,040 4,656
158 819	494 944			652 - 1,763 652
977	1,438			2,415 652
2,199	1,805			4,004 -
14,967	1,658			16,625 4,004
		Restricted Funds (Linked Charities) Housing Properties 2023 2022 £ £ 2,887,685 - - 2,846,368 - 41,317		Restricted Funds (Linked Charities) Housing Properties
		2,887,685 2,887,685
		816,747 - - 770,293 - 15,321 31,133 31,133
		847,880 816,747
		2,070,938 -
		2,039,805 2,070,938

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

15. INVESTMENTS

INVESTMENTS
Listed Investments Market value at beginning of the year 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 year The cost or valuation at the end of the year is represented by: Cost Accumulated revaluation gains	Unrestricted and Restricted Funds Restricted Funds Total Ogilvie Charities (CIO) (Linked Charities) Combined 2023 2022 2023 2022 2023 2022 £ £ £ £ £ £ 4,999,884 - 1,926,450 - 6,926,334 -	Total Combined
	- - - 3,109,379 - 3,109,379 - - - 1,837,132 - 1,837,132 - - - 366,925 - 366,925 - - - 442,638 - 442,638 - - - 78,996 - 78,996 - - - 770,452 - 770,452 - - - 1,077,900 - 1,077,900
	- - - 7,683,422 - 7,683,422
	- 5,663,890 - (5,663,890) - - 1,273,000 3,913,413 656,000 1,403,282 1,929,000 5,316,695 (1,227,394) (3,915,398) (655,838) (1,377,271) (1,883,232) (5,292,669) 329,964 (662,021) 102,127 (119,093) 432,091 (781,114)
	5,375,454 4,999,884 2,028,739 1,926,450 7,404,193 6,926,334
	5,157,122 4,895,219 1,969,270 1,819,223 7,126,392 6,714,442 218,332 104,665 59,469 107,227 277,801 211,892
	5,375,454 4,999,884 2,028,739 1,926,450 7,404,193 6,926,334

16. STOCKS

Stock of Heating Oil at Ogilvie Almshouses		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 3,997 3,359	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 3,997 3,359	Total Combined

17. DEBTORS AND PREPAYMENTS

DEBTORS AND PREPAYMENTS
Contributions in Arrears Linked Charities The Ogilvie Charities – CIO Prepayments and Accrued Income		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ - - 117,063 216,966 - - 57,411 74,604	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ 5,256 3,723 5,256 3,723 - - 117,063 216,966 500 500 500 500 13,555 25,004 70,966 99,608	Total Combined
		174,474 291,570	19,311 29,227 193,785 320,797

18. CASH AT BANK AND IN HAND

CASH AT BANK AND IN HAND
CAF Bank Current Account CAF Bank Gold Deposit Account COIF Deposit Account Investec Wealth & Investment Accounts Petty Cash		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 73,399 158,998 684,651 962,035 557,627 57,627 - 57,984 215 215	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ 15,236 18,118 88,635 177,116 92,949 90,166 777,600 1,052,201 - 89,529 557,627 147,156 - 234 - 58,218 - - 215 215	Total Combined
		1,315,892 1,236,859	108,185 198,047 1,424,077 1,434,906

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

19. CREDITORS: amounts falling due within one year

Orchardbrook Limited Loan (see note 20) Contributions in Received in Advance Trade Creditors Linked Charities The Ogilvie Charities – CIO Accruals and Deferred Income		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ - - - - 8,007 10,766 500 500 - - 37,561 43,761	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ 1,320 1,202 1,320 1,202 3,932 3,617 3,932 3,617 - - 8,007 10,766 - - 500 500 117,063 216,966 117,063 216,966 2,542 2,570 40,103 46,331	Total Combined
		46,068 55,027	124,857 224,355 170,925 279,382

20. CREDITORS: amounts falling due in more than one year

Orchardbrook Limited Loan (see note 20)		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ - -	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ 104,131 105,451 104,131 105,451	Total Combined

21. 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 and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ - - - - - - - -	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ 1,320 1,202 1,320 1,202 1,450 1,320 1,450 1,320 5,267 4,794 5,267 4,794 97,414 99,337 97,414 99,337	Total Combined
		- -	105,451 106,653 105,451 106,653

22. 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:

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

22. PENSION SHORTFALL PROVISION (CONTINUED)

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:

From 1 April 2019 to 30 September 2025:

£11,243,000 per annum

(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.

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)	2023 £ 1,269 2023 £ 9,579 87 (1,202) (2) (7,193) 1,269 2023 £ 87 (2) (7,193) 2023 5.31	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 OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

22. PENSION SHORTFALL PROVISION (CONTINUED)

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

Deficit Contributions Schedule
	2023	2022
	£	£
Year 1	1,202	1,202
Year 2	100	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.

23. 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)
Restricted Funds:
Extraordinary Maintenance Fund	-	237,910	155,367	-	393,277
Cyclical Maintenance Fund	-	-	104,117	-	104,117
Unrestricted Funds:
General Fund	16,625	5,137,544	1,188,811	(1,269)	6,341,711
	16,625	5,375,454	1,448,295	(1,269)	6,839,105
Linked Charities
Endowment Funds:
Permanent Endowment Fund	-	2,028,739	3,459	-	2,032,198
Property Equity Reserve	1,068,017	-	(87,936)	-	980,081
Restricted Funds:
Social Housing Grant Fund	631,463	-	-	-	631,463
Bernard Sunley Foundation Grant Fund	36,722	-	-	-	37,324
Quaker Housing Trust Grant Fund	3,660	-	-	-	3,660
Deed No.2 Grant Fund	184,647	-	-	-	184,647
Unrestricted Funds:
Charles May House Property Reserve	115,296	-	(17,515)	-	97,781
General Funds	-	-	500	-	500
	2,039,805	2,028,739	(101,492)	-	3,967,052

	2,056,430	7,404,193	1,374,229	(9,579)	10,806,157

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

24. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
The Ogilvie Charities (CIO) Restricted Funds: Extraordinary Maintenance Fund Cyclical Maintenance Fund Unrestricted Funds: General Fund Linked Charities Endowment Funds: Permanent Endowment Fund Property Equity Reserve Restricted Funds: Social Housing Grant Fund Bernard Sunley Foundation Grant Fund Quaker Housing Trust Grant Fund Deed No.2 Grant Fund Unrestricted Funds: Charles May House Property Reserve General Fund 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 Fund Property Equity Reserve Restricted Funds: Social Housing Grant Fund Bernard Sunley Foundation Grant Fund Quaker Housing Trust Grant Fund Deed No.2 Grant Fund Unrestricted Funds: Charles May House Property Reserve General Fund	At 01.01.23 £ 371,591 116,152 5,983,327 6,471,070 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 500 3,894,856 10,365,926 Incoming Resources £ 9,256 - 708,654 717,910 - - - - - - - 515,243 515,243 1,233,153	Transfer Between Funds Net Transfer Movement Between In Funds Funds £ £ (25,236) 46,922 (52,229) 40,194 445,500 (87,116) 368,035 - 102,127 - (26,130) 11,452 - (9,975) - (602) - (60) - (3,027) (5,003) 3,414 1,202 (1,202) 72,196 - 440,231 - Investment Resources Gains and Expended Losses) £ £ (45,057) 10,565 (52,666) 437 (582,116) 318,962 (679,839) 329,964 - 102,127 (26,130) - - - - - - - - - (5,003) - (514,041) - (545,174) 102,127 (1,225,013) 432,091		At 31.12.23 £ 393,277 104,117 6,341,711
				6,839,105
				2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 500
				3,967,052

				10,806,157
			Net Movement In Funds £ (25,236) (52,229) 445,500

				368,035
				102,127 (26,130) - - - - (5,003) 1,202
				72,196

				440,231

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

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

24. MOVEMENT IN FUNDS (CONTINUED)

Comparatives for movements in funds

Net Movement In Funds £	Transfer Between Funds Fund Balances Transfer Introduced Between At 01.01.22 Funds £ £	Transfer Between Funds Fund Balances Transfer Introduced Between At 01.01.22 Funds £ £	At 31.12.22 £



(39,409)	369,040	41,960	371,591
(6,068)	86,254	35,966	116,152
(481,620)	6,542,873	(77,926)	5,983,327
(527,097)	6,998,167	-	6,471,070



(115,790)	2,045,861	-	1,930,071
(26,130)	1,009,521	11,368	994,759

-	651,413	(9,975)	641,438
-	37,926	(602)	37,324
-	3,780	(60)	3,720
-	190,701	(3,027)	187,674

(5,003)	100,983	3,390	99,370
1,094	500	(1,094)	500
(145,829)	4,040,685	-	3,894,856

(672,926)	11,038,852	-	10,365,926

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

Incoming Resources £	Resources Expended £	nvestment Gains and Losses) £	Net Movement In Funds £



-	(10,855)	(28,554)	(39,409)
-	(5,045)	(1,023)	(6,068)

686,908	(536,084)	(632,444)	(481,620)
686,908	(551,984)	(662,021)	(527,097)



3,433	(130)	(119,093)	(115,790)
-	(26,130)	-	(26,130)
-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

-	(5,003)	-	(5,003)
494,546	(493,452)	-	1,094
497,979	(524,715)	(119,093)	(145,829)

1,184,887	(1,076,699)	(781,114)	(672,926)

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

24. MOVEMENT IN FUNDS (CONTINUED)

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

Extraordinary Maintenance Fund

The Extraordinary Maintenance Fund is a restricted fund to cover the cost of extraordinary repairs as they arise. A transfer is made each year from the General Fund to the Extraordinary Maintenance Fund, details of how the transfer is calculated can be found in note 2(g). Part of the Reserve is specifically invested with any income and capital growth in these investments added to the Reserve.

Cyclical Maintenance Fund

The Cyclical Maintenance Reserve is a restricted fund to cover the cost of cyclical repairs as they arise. 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).

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:

Endowment Funds

The Permanent Endowment Fund 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.

Property Equity Reserve

The Property Equity Reserve is permanent non-expendable endowment and represents the cost of the housing properties at the Ogilvie Homes, Ogilvie Almshouses and Estella House financed by the Charity’s own resources, this being the net book value of the housing properties less the balance of the outstanding loan capital in respect of the Ogilvie Homes.

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.

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 Homes less attributable depreciation charged to date.

Charles May House Property Reserve

The Charles May House Property Reserve is an unrestricted fund and represents the cost of the housing properties at Charles May House financed by the Charity’s own resources, this being the cost of the housing properties less attributable depreciation charged to date.and less the balance of outstanding loan capital in respect of Charles May House.

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).

THE OGILVIE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

25. 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 year ended 31 December 2023 The Ogilvie Charities – Deed No.1 made a gift to The Ogilvie Charities (CIO) of £503,200.

At the Balance Sheet date The Ogilvie Charities (CIO) was owed £117,063 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.

26. COMMITMENTS UNDER OPERATING LEASES

The total future minimum lease payments due under non-cancellable operating leases are as follows: Due within one year		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 7,083 6,125	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 7,083 6,125	Total Combined

27. FINANCIAL COMMITMENTS

FINANCIAL COMMITMENTS
Authorised and Contracted for: External redecoration of the Ogilvie Almshouses Authorised but Not Contracted for: External redecoration of the Ogilvie Almshouses		Unrestricted and Restricted Funds Ogilvie Charities (CIO) 2023 2022 £ £ 34,320 -	Restricted Funds Total (Linked Charities) Combined 2023 2022 2023 2022 £ £ £ £ - - 34,320 -	Total Combined
		- 91,000	- - - 91,000

FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Restricted Charitable Charitable Charitable Net Fund Fund Donations Activities Raising Activities Activities Gains and Transfers Balances Balances and Almshouses Investment Funds Grants and Almshouses (Losses) on Between Brought Carried Legacies Income Income Expenditure Allowances Expenditure Investments Funds Forward Forward £ £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 The Ogilvie Charities (Deed No.1) 500 435,768 78,975 - (503,200) (41,974) 102,127 - 3,894,356 3,966,552 The Ogilvie Charities (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 - - - - - - - - 100 100 500 435,768 78,975 - 3,894,856 3,967,052 Restricted Restricted Charitable Charitable Charitable Net Fund Fund Donations Activities Raising Activities Activities Gains and Transfers Balances Balances and Almshouses Investment Funds Grants and Almshouses (Losses) on Between Brought Carried Legacies Income Income Expenditure Allowances Expenditure Investments Funds Forward Forward £ £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 The Ogilvie Charities (Deed No.1) - 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,185 - 3,894,356 The Ogilvie Charities (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 - 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,685 - 3,967,052	FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Restricted Charitable Charitable Charitable Net Fund Fund Donations Activities Raising Activities Activities Gains and Transfers Balances Balances and Almshouses Investment Funds Grants and Almshouses (Losses) on Between Brought Carried Legacies Income Income Expenditure Allowances Expenditure Investments Funds Forward Forward £ £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 The Ogilvie Charities (Deed No.1) 500 435,768 78,975 - (503,200) (41,974) 102,127 - 3,894,356 3,966,552 The Ogilvie Charities (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 - - - - - - - - 100 100 500 435,768 78,975 - 3,894,856 3,967,052 Restricted Restricted Charitable Charitable Charitable Net Fund Fund Donations Activities Raising Activities Activities Gains and Transfers Balances Balances and Almshouses Investment Funds Grants and Almshouses (Losses) on Between Brought Carried Legacies Income Income Expenditure Allowances Expenditure Investments Funds Forward Forward £ £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 The Ogilvie Charities (Deed No.1) - 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,185 - 3,894,356 The Ogilvie Charities (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 - 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,685 - 3,967,052	FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Restricted Charitable Charitable Charitable Net Fund Fund Donations Activities Raising Activities Activities Gains and Transfers Balances Balances and Almshouses Investment Funds Grants and Almshouses (Losses) on Between Brought Carried Legacies Income Income Expenditure Allowances Expenditure Investments Funds Forward Forward £ £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 The Ogilvie Charities (Deed No.1) 500 435,768 78,975 - (503,200) (41,974) 102,127 - 3,894,356 3,966,552 The Ogilvie Charities (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 - - - - - - - - 100 100 500 435,768 78,975 - 3,894,856 3,967,052 Restricted Restricted Charitable Charitable Charitable Net Fund Fund Donations Activities Raising Activities Activities Gains and Transfers Balances Balances and Almshouses Investment Funds Grants and Almshouses (Losses) on Between Brought Carried Legacies Income Income Expenditure Allowances Expenditure Investments Funds Forward Forward £ £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 The Ogilvie Charities (Deed No.1) - 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,185 - 3,894,356 The Ogilvie Charities (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 - 409,633 88,346 (130) (483,167) (41,418) (119,093) 4,040,685 - 3,967,052	2	Restricted Fund Balances Carried Forward £ 3,894,356 100 100 100 100 100	Restricted Fund Balances Carried Forward £ 3,894,356 100 100 100 100 100	Restricted Fund Balances Carried Forward £ 3,894,356 100 100 100 100 100	Restricted Fund Balances Carried Forward £ 3,894,356 100 100 100 100 100	3,967,052
Carried Forward		£ 3,966,55 10 10 10 10 10	3,967,05	Restricted	Fund Balances	Carried Forward

			6	Restricted Fund Balances Brought Forward £ - - - - - -				-
Brought	Forward	£ 3,894,35 10 10 10 10 10	3,894,85	Restricte	Fund Balances	Brought	Forward

			-	Transfers Between Funds £ 4,040,185 100 100 100 100 100				4,040,685
Between	Funds £			Transfers		Between

				Net Gains and (Losses) on Investments £ (119,093) - - - - -				(119,093)
				Charitable Activities Almshouses Expenditure £ (41,418) - - - - -				(41,418)
		£ (41,974) - - - - -		Charitable Activities Almshouses

				Charitable Activities Grants and Allowances £ (483,167) - - - - -				(483,167)
				Raising Funds Expenditure £ (130) - - - - -				(130)
			78,975	Investment Income £ 88,346 - - - - -				88,346
			435,768	Charitable Activities Almshouses Income £ 409,633 - - - - -				409,633
								-

											Total		£	4,040,185	100	100	100	100	100	-	4,040,685
				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)
LINKED CHARITIES – SUMMARY STATEMENT OF FINANCIAL ACTIVITIES	FOR THE YEAR ENDED 31 DECEMBER 2023	The transfers between funds for the period ended 31 December 2022 are as follows:	Fund	Fund Balances	Balances Transferred	Introduced to/(from)		From Ogilvie The Ogilvie		Charities as at Charities as	01/01/2022 at 01/01/2022		£ £	The Ogilvie Charities (Deed No.1) 5,875,865 2,071,857	The Ogilvie Charities (Deed No.2) 1,979,100 (1,602,000)	The Charity of Mary Catherine Ford Smith 403,611 -	Margaret Champney Rest and Holiday Fund 520,054 (443,861)	Estella Canziani’s Legacy 169,472 (25,996)	Straitened Circumstances (1961) Fund 873,064 -	The Pauletta Edwards Education & Training Fund 1,217,686 -	11,038,852 -

THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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 £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,039,805 2,028,739 18,811 108,185 (124,857) (104,131) 3,966,552 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 2,039,805 2,028,739 19,311 108,185 (124,857) (104,131) 3,967,052 The above net assets are represented by the following funds and reserves: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 - 3,966,552 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 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 500 3,967,052	THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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 £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,039,805 2,028,739 18,811 108,185 (124,857) (104,131) 3,966,552 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 2,039,805 2,028,739 19,311 108,185 (124,857) (104,131) 3,967,052 The above net assets are represented by the following funds and reserves: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 - 3,966,552 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 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 500 3,967,052	THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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 £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,039,805 2,028,739 18,811 108,185 (124,857) (104,131) 3,966,552 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 2,039,805 2,028,739 19,311 108,185 (124,857) (104,131) 3,967,052 The above net assets are represented by the following funds and reserves: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 - 3,966,552 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 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 500 3,967,052	THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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 £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,039,805 2,028,739 18,811 108,185 (124,857) (104,131) 3,966,552 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 2,039,805 2,028,739 19,311 108,185 (124,857) (104,131) 3,967,052 The above net assets are represented by the following funds and reserves: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Year Ended 31 December 2023 Deed No.1 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 - 3,966,552 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 2,032,198 980,081 631,463 36,722 3,660 184,647 97,781 500 3,967,052	3,967,052	Total Funds £ 3,966,552 100 100 100 100 100	Total Funds £ 3,966,552 100 100 100 100 100	3,967,052
				(104,131)	ed Funds General Fund £ - 100 100 100 100 100		500
				7)	trict		97,781
	due within	One Year	£ (124,85	(124,85	Unres harles Ma	House Property

				108,185	The Ogilvie Charities Deed No.2 Grant Fund £ 184,647 - - - - -		184,647
				19,311	ed Funds Quaker House Trust Grant Fund £ 3,660 - - - - -		3,660
				2,028,739	Restrict Bernard Sunley Foundation Grant Fund £ 36,722 - - - - -		36,722
				5	Social Housing Grant Fund £ 631,463 - - - - -		631,463
Assets Housing		ropertie	£ 2,039,80	2,039,80	Social Housing

THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 - 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 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 500 3,894,856	THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 - 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 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 500 3,894,856	THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 - 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 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 500 3,894,856	THE OGILVIE CHARITIES LINKED CHARITIES – BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 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: Endowment Funds Restricted Funds Unrestricted Funds Bernard The Ogilvie Charles May Permanent Property Social Sunley Quaker Charities House Endowment Equity Housing Foundation House Trust Deed No.2 Property General Total Fund Reserve Grant Fund Grant Fund Grant Fund Grant Fund Reserve Fund Funds £ £ £ £ £ £ £ £ £ Period Ended 31 December 2022 Deed No.1 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 - 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 1,930,071 994,759 641,438 37,324 3,720 187,674 99,370 500 3,894,856	3,894,856	Total Funds £ 3,894,356 100 100 100 100 100	Total Funds £ 3,894,356 100 100 100 100 100	3,894,856
				(105,451)	ted Funds General Fund £ - 100 100 100 100 100		500
				5)	tric		99,370
	due within	One Year	£ (224,35	(224,35	Unres harles Ma	House 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

							994,759
							1,930,071

THE OGILVIE CHARITIES – DEED NO.1

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME AND ENDOWMENTS DONATIONS AND LEGACIES CHARITABLE ACTIVITIES Contributions Due Losses from Voids Guest Room Rent Received INVESTMENT INCOME Investec Wealth & Investment Dividends COIF Income Share Dividends M&G Charifund Income Share Dividends Deposit Account Interest Receivable TOTAL INCOME EXPENDITURE RAISING FUNDS Investec Investment Management Costs CHARITABLE ACTIVITIES Grants and Allowances Gift to The Ogilvie Charities (CIO) Almshouse Costs Bad Debts Written Off Housing Loan Interest Depreciation Support Costs – Governance Bank Charges TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) BEFORE GAINS AND LOSSES NET INVESTMENT GAINS/(LOSSES) NET INCOME/(EXPENDITURE) TRANSFERS BETWEEN FUNDS Funds balances movements as at 1 January 2022: Balances Carried Forward as at 31 December 2021 Transferred to The Ogilvie Charities (CIO) Transferred from The Ogilvie Charities – Deed No.2 Transferred from Estella Canziani’s Legacy Transferred from Margaret Champney Rest and Holiday Fund NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total Funds Brought Forward Total Funds Carried Forward	2023 £ £ 500 449,910 (14,880) 435,030 738 435,768 1,795 38,169 25,297 13,714 78,975 515,243 - 503,200 611 10,141 31,133 41,885 89 41,974 545,174 (29,931) 102,127 72,196 - - - - - - 72,196 3,894,356 3,966,552	2022	2022
		£	£


			-


		417,172
		(8,429)
		408,743
		890
			409,633


		77,896
		9,639
		-
		811
			88,346

			497,979




			130



			483,167


		-
		10,252
		31,133
		41,385

		33
			41,418
			524,715

			(26,736)

			(119,093)

			(145,829)



		5,875,865
		(3,907,537)
		1,602,000
		25,996
		443,861
			4,040,185
			3,894,356


			-

			3,894,356

This page does not form part of the statutory financial statements

THE OGILVIE CHARITIES – DEED NO.1

DETAILED BALANCE SHEET AS AT 31 DECEMBER 2023

FIXED ASSETS Tangible Fixed Assets – Housing Properties Net Book Value at the beginning of the year Net Book Value transferred from Estella Canziani’s Legacy Depreciation Charge for the year Net Book Value at end of the year Listed Investments Market Value at the beginning of the year Transfers as at 1 January 2022: To The Ogilvie Charities (CIO) From The Ogilvie Charities – Deed No.2 From Margaret Champney Rest and Holiday Fund Additions at cost Disposal Proceeds Gain/(Loss) on Revaluation Market Value at end of the year CURRENT ASSETS Debtors and Prepayments Contributions in Arrears 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 CREDITORS: Amounts falling due with one year Loans Contributions in Received in Advance The Ogilvie Charities (CIO) Accruals and Deferred Income NET CURRENT ASSETS/(LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: Amounts falling due after more than one year Loans NET ASSETS CAPITAL AND RESERVES Endowment Funds: Permanent Endowment Fund Property Equity Reserve Restricted Funds: Social Housing Grant Funds Bernard Sunley Foundation Grant Fund Quaker Housing Trust Grant Fund Deed No.2 Grant Fund Unrestricted Funds: Charles May House Property Equity Reserve General Fund	2023 £ £ 2,070,938 - (31,133) 2,039,805 1,926,450 - - - 656,000 (655,838) 102,127 2,028,739 4,068,544 5,256 13,555 18,811 15,236 92,949 - - 108,185 126,996 1,320 3,932 117,063 2,542 124,857 2,139 4,070,683 104,131 3,966,552 2,032,198 980,081 3,012,279 631,463 36,722 3,660 184,647 856,492 97,781 - 97,781 3,966,552	2022	2022
		£	£


		2,076,075
		25,996
		(31,133)
			2,070,938


		3,109,379

		(3,109,379)
		1,584,230
		435,302
		1,403,282
		(1,377,271)
		(119,093)
			1,926,450
			3,997,388


		3,723
		25,004
			28,727

		18,118
		90,166
		89,529
		234
			198,047
			226,774

		1,202
		3,617
		216,966
		2,570
			224,355
			2,419

			3,999,807


			105,451
			3,894,356



		1,930,071
		994.759
			2,924,830

		641,438
		37,324
		3,720
		187,674
			870,156

		99,370
		-
			99,370
			3,894,356

This page does not form part of the statutory financial statements

THE OGILVIE CHARITIES

PROPERTY REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

OGILVIE HOMES

INCOME Almshouse Income Contributions Due Losses from Voids Guest Room Rent Received TOTAL INCOME EXPENDITURE 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 Health and Safety Sundry Expenses Bad Debts Written Off Loan Interest Depreciation of Housing Properties Depreciation of Plant and Machinery Depreciation of Computer Equipment TOTAL EXPENDITURE DEFICIT FOR THE PERIOD	2023 £ £ 219,162 (14,880) 204,282 408 204,690 91,820 11,918 48,897 3,795 16,004 17,166 8,357 7,161 3,362 1,182 1,932 954 659 - 1,610 1,496 611 8,179 20,987 - 383 246,473 (41,783)	2022	2022
		£	£


		200,463
		(6,628)
			193,835
			630

			194,465




			98,933
			10,960
			36,529
			3,320
			13,657
			3,060
			7,500
			1,908
			338
			1,250
			2,363
			800
			776
			-
			681
			857
			-
			8,265
			20,987
			-
			248

			212,432

			(17,967)

This page does not form part of the statutory financial statements

THE OGILVIE CHARITIES

PROPERTY REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

OGILVIE ALMSHOUSES

INCOME Almshouse Income Contributions Due Losses from Voids Guest Room Rent Received TOTAL INCOME EXPENDITURE 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 Health and Safety Sundry Expenses Bad Debts Written Off Loan Interest Depreciation of Housing Properties Depreciation of Plant and Machinery Depreciation of Computer Equipment TOTAL EXPENDITURE SURPLUS/(DEFICIT) FOR THE PERIOD	2023 £ £ 132,753 - 132,753 330 133,083 21,277 10,141 40,642 3,388 7,684 35,500 21,180 6,045 3,646 1,070 1,103 589 63 9,493 2,275 1,149 - - 4,804 376 383 170,808 (37,725)	2022	2022
		£	£


		125,263
		(1,801)
			123,462
			260

			123,722




			22,894
			9,221
			38,250
			2,959
			7,837
			-
			3,322
			2,006
			3,094
			866
			1,445
			500
			61
			296
			392
			486
			-
			-
			4,804
			-
			247

			98,680

			25,042

This page does not form part of the statutory financial statements

THE OGILVIE CHARITIES

PROPERTY REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

CHARLES MAY HOUSE

INCOME Almshouse Income Contributions Due Losses from Voids Guest Room Rent Received TOTAL INCOME EXPENDITURE 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 Health and Safety Sundry Expenses Bad Debts Written Off Loan Interest Depreciation of Housing Properties Depreciation of Plant and Machinery Depreciation of Computer Equipment TOTAL EXPENDITURE SURPLUS FOR THE PERIOD	2023 £ £ 76,493 - 76,493 - 76,493 17,796 11,215 9,390 1,399 14,760 - - 3,302 3,052 1,084 954 35 509 1,685 2,037 216 - 1,962 5,003 443 178 75,020 1,473	2022	2022
		£	£


		71,494
		-
			71,494
			-

			71,494




			18,937
			3,890
			6,808
			1,234
			12,041
			1,985
			-
			3,526
			2,528
			974
			738
			-
			407
			300
			1,257
			181
			-
			1,987
			5,003
			157
			-

			61,953

			9,541

This page does not form part of the statutory financial statements

THE OGILVIE CHARITIES

PROPERTY REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

ESTELLA HOUSE

INCOME Almshouse Income Contributions Due Losses from Voids Guest Room Rent Received TOTAL INCOME EXPENDITURE 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 Health and Safety Sundry Expenses Bad Debts Written Off Loan Interest Depreciation of Housing Properties Depreciation of Plant and Machinery Depreciation of Computer Equipment TOTAL EXPENDITURE SURPLUS/(DEFICIT) FOR THE PERIOD	2023 £ £ 21,502 - 21,502 - 21,502 4,435 855 6,448 405 6,524 - 15,520 834 1,218 - 300 - 160 - 341 - - - 339 - - 37,379 (15,877)	2022	2022
		£	£


		19,952
		-
			19,952
			-

			19,952




			4,709
			739
			4,278
			354
			5,383
			-
			-
			753
			1,014
			-
			168
			-
			64
			-
			568
			-
			-
			-
			339
			-
			-

			18,369

			1,583

This page does not form part of the statutory financial statements

THE OGILVIE CHARITIES

REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

THE GATEHOUSE

INCOME Donations and Legacies Investment Income Dividends Receivable from Listed Investments Bank Deposit Interest Receivable Royalties TOTAL INCOME EXPENDITURE Raising Funds Investment Management Costs Grants and Allowances Grants to Institutions Grants to Individuals Administrative Costs Salaries and Wages Rent Rates and Water Light and Heat Insurance Current Repairs and Maintenance Garden and Grounds 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)/Losses TOTAL EXPENDITURE SURPLUS FOR THE PERIOD PROPERTY REVENUE ACCOUNT SURPLUS/(DEFICITS) Ogilvie Homes Ogilvie Almshouses Charles May House Estella House GAINS AND LOSSES ON INVESTMENTS Realised Investment Gains/(Losses) Unrealised Investment Gains/(Losses) NET INCOME/(EXPENDITURE)	2023 £ £ 1,645 248,408 44,132 - 292,540 294,185 3,879 32,500 32,561 65,061 64,591 7,557 682 3,885 774 4,366 30 1,777 2,087 1,856 1,287 302 89,194 20,760 7,550 3,701 180 1,808 33,999 192,133 102,052 (41,783) (37,725) 1,473 (15,877) (93,912) 8,140 366,182 65,909 432,091 440,231	2022	2022
		£	£

			500

		286,210
		5,183
		194
			291,587
			292,087




			27,642


		23,200
		30,258
			53,458

		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)
			35,813
			202,098

			89,989



		(17,967)
		25,042
		9,541
		1,583
			18,199
			108,188


		1,416,153
		(2,197,267)
			(781,114)

			(672,926)

This page does not form part of the statutory financial statements