The Baesh Trust
(A charity incorporated organisation)
Annual Report
Year Ended 31 March 2024
Charity Registration Number: 1198676
The Baesh Trust Financial Statements Year Ended 31 March 2024
Contents
Administrative Details .......................................................................................................... 3 Objectives & Activities ......................................................................................................... 4 Achievements and performance ........................................................................................... 4 Financial Review ................................................................................................................. 4 Structure, Governance and Management .............................................................................. 4 Risk Management ................................................................................................................ 5 Notes to the Financial Statements ........................................................................................ 7
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The Baesh Trust Financial Statements Year Ended 31 March 2024
The Trustees present their report and the audited financial statements of the Charity for the year ended 31 March 2024.
Administrative Details
| Administrative Details | |
|---|---|
| Charity Name: | The Baesh Trust |
| Charity registration number: | 1198676 |
| Registered Ofice: | 18 The Granary |
| Stanstead Abbotts | |
| Ware | |
| SG12 8XH | |
| Trustees: | Mr Jonathan Trower (Chairman) |
| Mr Henry Buxton DL | |
| Mr Anthony Richardson | |
| Mr Andrew Day (resigned 31 March 2024) | |
| Dr Tessa Dormon | |
| Mr Jonathan Pilkington | |
| Mrs Pamela Harris (resigned 31 March 2024) | |
| Mrs Suzannah Nichol | |
| Rev. Dr Sarah Louise Forrest | |
| Mr John Lloyd (appointed 31 March 2024) | |
| Ms Sarah Chapman (appointed 31 March 2024) | |
| Clerk: | Miss Christina Whellams |
| Independent Examiner: | Anne Sauntson, |
| 2 The Stables | |
| Stanstead Bury | |
| Ware SG12 8JZ | |
| Bankers: | NatWest Bank |
| Welwyn Garden City (C) Branch | |
| 13 Stonehills | |
| Welwyn Garden City | |
| Hertfordshire | |
| AL8 6ND | |
| Solicitors: | Longmores Solicitors |
| 24 Castle Street | |
| Hertford | |
| SG14 1HP |
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The Baesh Trust Financial Statements Year Ended 31 March 2024
Objectives & Activities
Our charity’s purposes are:
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Firstly, to provide housing in the form of almshouses for the poor and needy of good character;
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Secondly, to pay as much of the income of the specified endowment funds which it holds as is required by the incumbent or priest-in-charge for the time being of the parish of Stanstead Abbotts or any combined benefice which includes the parish of Stanstead Abbotts to reimburse him or her for his or working expenses with any surplus being applied in said parish and to the advancement of religions in accordance with rites and doctrines of the Church of England; and
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Thirdly, to apply such funds as may be available from time to time for the prevention and relief of poverty primarily in the Parish of Stanstead Abbotts and secondarily in the parish of Great Amwell.
The charity reviews its aims, objectives and activities each year. The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and are satisfied their aims and objectives, and future activities are in line with this guidance.
Achievements and performance
During the course of the year the Trustees continued to focus on ensuring that the accommodation which they provide is well maintained and meets the needs of the Trust’s residents. They also looked to ensure that the income stream from the funds used to pay for the Vicar’s expenses is sustainable in real terms over the long term. Trustees continue to discuss with a local developer the possibility of increasing the number of almshouses owned and managed by the Trust.
Financial Review
The attached financial statements (accounts) show the financial position of the trust at 31 March 2024. The trustees consider this to be satisfactory.
Structure, Governance and Management
The Trust is a Charitable Incorporated Organisation (CIO), created on 21 April 2022 and registered as a CIO on 12 May 2023 with the Charity Commission. It was formed by the amalgamation of four charities – The Baesh Almshouse Trust, The Jubilee Almshouse Trust, and The Stanstead Abbotts Endowment Trusts No 1 and The Stanstead Abbotts Endowment Trust No 2.
The Clerk is responsible for overseeing the management and administration of the Trust as directed by the Trustees.
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The Baesh Trust Financial Statements Year Ended 31 March 2024
There are nine Trustees consisting of two Ex-Officio trustees, four Nominated Trustees by the Parish Council of Stanstead Abbotts, one Nominated Trustee by the Parish Council of Great Amwell and two Co-Opted Trustees.
There are generally three meetings of the Trustees each year of which one is the annual general meeting. Special meetings are arranged when required.
The Trust is a member of The Almshouse Association.
Risk Management
Trustees assess the major risks annually to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that procedures and systems are in place to mitigate these. A risk register has been established and is updated annually to ensure that it continues to meet the needs of the charity.
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Tho Baesh Trust Flnanelal Stjtementj Yo8r Ended 31 March 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BAESH TRUST 118POrt to tha Tiustees on my 8Aamln&tion of the 8ccounis urni¥ Bue¥li Trust loi the ye8f ¥nd&d 31 M8rch 2024. Responslbllltl•¥ and bJsls of r•port As the ch8rlty trustees of the Trust you are re8pon8ible for the preparation ol th6 accounts In accoidance with the requirements of the Ch8rttlftx Act 20111'tha Ar.t'). I report In regpect of my examinatlon of the Trust's accounts ¢8rrios out under Section 145 of the 2011 Act and in carryin8 Out my examination I have followed all 8pplic8ble diTection8 Ven by the Ch8fity Comrnission under Section 14515llbl ot the Act. Independent Examlner's St8t8ment I have complet8(I my examination. I confirm that no materlal matters have come to my Èttentlon In ¢onne¢tlon with the ex8min8tlon giving me cau$9 to believe that in any moterlal respect: 1. Accountlng records were noi kept In respect of the Trust as requlred by S8ction 130 of the Act; or 2. The ttccount9 do not accord with those records. I h8ve no con¢ern$ 8nd h8ve come 8cross no other rn8tters In connectlon wlth the exBrnination to which attention Should be drawn in this report in older to enable 8 proper underst8n¢lng of the 8ccounts to be reached. Anne Sauntson 2 The Stables. Stanst8adbury, Ware SG12 81Z Dat8d:
The Baesh Trust Financial Statements Year Ended 31 March 2024
Notes to the Financial Statements
1. ACCOUNTING POLICIES
The accounts (financial statements) 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 (FRS102) published on 1 January 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Charities Act 2011.
Cyclical Repairs and Maintenance
The Baesh Trust has established a regular programme of cyclical repairs and maintenance. Costs are charged to the statement of financial activities in the year in which they are incurred. A reserve is held which represents amounts set aside for cyclical maintenance to meet any costs which are incurred in excess of budget.
Extraordinary Repairs Fund
The extraordinary repairs fund represents monies reserved for major repairs to the almshouse properties.
Fixed Asset Investments
These comprise assets held by the charity which are not expected to be converted into cash in the short term.
2. TRUSTEES’ EXPENSES
There were no expenses reimbursed to Trustees for the year ended 31 March 2024.
3. TRUSTEES REMUNERATION
No remuneration was received by the Trustees either in their capacities as Trustees or as members of the CIO.
4. TAXATION
The Baesh Trust is exempt from tax on its charitable activities.
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THE BAESH ALMSHOUSE TRUST
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31.03.24
| £ £ INCOME Weekly contributions including fuel Charities Deposit Fund Interest Dividends on 20976 M&G Multi Asset Fund - Income Shares Dividends on 4646 M&G Equities Investment Fund for Charities - Income Shares Rent Charge Electricity Contributions EDF Refund |
£ 17667.89 523.28 818.06 2880.52 25.00 617.13 560.94 23092.82 |
31.03.23 £ 16780.00 193.51 734.17 25.00 1186.43 400.00 |
|---|---|---|
| 19319.11 |
£ £ £ £
EXPENDITURE
| Gas Electricity Water Rates Garden Maintenance Clerk Insurance NAA Subscriptions Garden Sundries Postages & Petty Expenses TV Licence Auditor Chubb Fire Extinguishers Exterior Painting & Repairs Plumbing Surveyor EHDC Garden Waste Lawn Mower Professional fees Training Leaving gift for outgoing Clerk Payment to PCC for Vicars Expenses Income over Expenditure |
(2270.78) (1115.38) (934.09) (560.00) (900.00) (1521.97) (267.00) (230.82) (-) (-) (125.00) (375.34) (-) (3304.00) (-) (147.00) (-) (480.00) (105.00) (750.00) (2880.52) (15966.90) 7125.92 Expenditure over Income |
(2668.00) (1293.00) (775.79) (560.00) (900.00) (1507.52) (153.00) (119.16) (48.95) (-) (120.00) (66.43) (17664.00) (526.00) (-) (147.00) (-) (4320.00) (-) (-) |
|---|---|---|
| (30868.85) (11549.74) |
THE BAESH TRUST BALANCE SHEET AS AT 31.03.24
FIXED ASSETS £ Trust Property Endowment Fund: 20976 M&G Charity Multi Asset Fund – Income Shares £19069.28 1913.530 M&G Charity Multi Asset Fund – Accumulation Shares £219306.04 Charities Deposit Fund £11000.00 -------------- Vicars Expenses Fund: 4646 M&G Equities Investment Fund for Charities – Income Shares £67649.48 32 M&G Equities Investment Fund for Charities – Accumulation Shares £9834.23 -------------- CURRENT ASSETS Cash in Hand £4.39 Bank as at 31.03.24 £84971.53 -------------- NET ASSETS FINANCED BY Endowment Capital £19069.28 Extraordinary Repair Fund £219306.04 Cyclical Maintenance Fund £11000.00 Accumulated Funds £84975.92 Vicars Expenses Fund £77483.71 We hereby certify that the foregoing statements are correct:- |
£ £18735.76 £205895.82 £11000.00 -------------- £249375.32 -------------- £77483.71 £4.39 £11211.97 -------------- £84975.92 £411834.95 £18735.76 £205895.82 £11000.00 £11216.36 £411834.95 |
31.03.23 £235631.58 £11216.36 £246847.94 £246847.94 |
|---|---|---|
TRUSTEES HON. AUDITOR
Account forwarded by Miss C Y Whellams, 18 The Granary, Stanstead Abbotts, Herts SG12 8XH