## **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|
**1**
**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||
**2**
**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
**3**
**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.
**4**
**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.
**5**
**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.
**6**
**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.
**7**
**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
**8**
**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.
**9**
**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.
**10**
**THE OGILVIE CHARITIES**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
Charitable Activities
Investment Income
**TOTAL**
**EXPENDITURE ON:**
Raising Funds
Charitable Activities
**TOTAL**
**SURPLUS/(DEFICIT)**
**NET GAINS/(LOSSES) ON INVESTMENTS**
**NET INCOME/(EXPENDITURE)**
**TRANSFERS BETWEEN FUNDS**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total Funds Brought Forward
Total Funds Carried Forward|**Notes**||**Unrestricted**
**And**
**Restricted**
**Funds**
**Ogilvie**
**Charities**
**(CIO)**
**2023**
**£**
**504,345**
**-**
**213,565**|**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|**Total**
**Combined**|
|---|---|---|---|---|---|---|
||||||||
||**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.
**11**
**THE OGILVIE CHARITIES**
**BALANCE SHEET**
## **AS AT 31 DECEMBER 2023**
|**FIXED ASSETS**
Tangible Fixed Assets
Investments
**CURRENT ASSETS**
Stocks
Debtors and Prepayments
Cash at Bank and in Hand
**CREDITORS:**Amounts falling due with one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS:**Amounts falling due after more than one year
**PROVISIONS FOR LIABILITIES AND CHARGES**
**TOTAL NET ASSETS**
**CAPITAL AND RESERVES**
Restricted Funds
Unrestricted Funds|**Notes**||**Unrestricted**
**and**
**Restricted**
**Funds**
**Ogilvie**
**Charities**
**(CIO)**
**2023**
**£**
**16,625**
**5,375,454**|**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|**Total**
**Combined**|
|---|---|---|---|---|---|---|
||||||||
||**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
**12**
**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||
**13**
**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.
**14**
**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.
**15**
**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|
**16**
**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**|
|---|---|---|---|---|
**17**
**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||
**18**
**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).
**19**
**THE OGILVIE CHARITIES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **12. STAFF COSTS**
|**Unrestricted and**
**Restricted Funds**
**Restricted Funds**
**Total**
**Ogilvie Charities (CIO)**
**(Linked Charities)**
**Combined**
**2023**
**2022**
**2023**
**2022**
**2023**
**2022**
**£**
**£**
**£**
**£**
**£**
**£**
Wages and Salaries
**184,227**
188,943
**-**
-
**184,227**
188,943
Social Security Costs
**9,015**
10,706
**-**
-
**9,015**
10,706
Employers Pension Contributions
**6,677**
11,845
**-**
-
**6,677**
11,845
**199,919**
211,494
**-**
-
**199,919**
211,494
Staff costs are allocated as follows:
Almshouse Costs
**135,328**
145,473
**-**
-
**135,328**
145,473
Headquarters Administration Costs
**64,591**
66,021
**-**
-
**64,591**
66,021
**199,919**
211,494
**-**
-
**199,919**
211,494
The average monthly number of employees during the year ended 31 December 2023 were:
Administrative Staff
**2**
2
-
-
**2**
2
Housing Staff – Ogilvie Homes and Almshouses
**6**
6
-
-
**6**
6
Housing Staff – Charles May House and Estella
**2**
2
-
-
**2**
2
**10**
10
-
-
**10**
10||**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|**Total**
**Combined**|
|---|---|---|---|---|
|||**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**
|**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
Charitable Activities
Investment Income
**TOTAL**
**EXPENDITURE ON:**
Raising Funds
Charitable Activities
**TOTAL**
**NET GAINS/(LOSSES) ON INVESTMENTS**
**NET INCOME/(EXPENDITURE)**
**TRANSFERS BETWEEN FUNDS**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total Funds Carried Forward|**Notes**
**3**
**4**
**5**
**6**
**7**
**13**
**1**||**Unrestricted**
**and**
**Restricted**
**Funds**
**Ogilvie**
**Charities**
**(CIO)**|**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|
||||||||
||||||||
**20**
**THE OGILVIE CHARITIES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. TANGIBLE FIXED ASSETS**
|**COST**
At beginning of the year
Additions
At end of the year
**DEPRECIATION**
At beginning of the year
Charge for the year
At end of the year
**NET BOOK VALUE**
At beginning of the year
At end of the year
**COST**
At beginning of the year
Introduced as at 1 January 2022:
Ogilvie Charities (Deed No.1)
Charity of Estella Michaela Louisa Canziani
At end of the year
**DEPRECIATION**
At beginning of the year
Introduced as at 1 January 2022:
Ogilvie Charities (Deed No.1)
Charity of Estella Michaela Louisa Canziani
Charge for the year
At end of the year
**NET BOOK VALUE**
At beginning of the year
At end of the year||**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|||
**21**
**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||
**22**
**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:
**23**
**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.
**24**
**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**|
**25**
**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:
**26**
**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
|**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||**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**
**£**
**£**|**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:
|**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||**Incoming**
**Resources**
**£**||**Resources**
**Expended**
**£**|**I**
|**nvestment**
**Gains and**
**Losses)**
**£**|**Net**
**Movement**
**In Funds**
**£**|**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)|
**27**
**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).
**28**
**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||
**29**
|**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|**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|
||||||||||-|
**30**
||||||||||||**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
-||
**31**
|**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**|**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**|||
||||||||||
**32**
|**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|**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|
**33**
**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
**34**
**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
**35**
**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
**36**
**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
**37**
**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
**38**
**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
**39**
**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