FREDERICK RAYTRUST FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024
Charlty RoO•t•r•d Numb•r 200204 TiuJto•s Mr Christophgr Ray (Date of Appointment: 23103119821 Mrs Rowena Ray (Date ofAppolntm8nt: 0110411998) Miss Phoebe Ray (Date ol Appointment: 15106120181 Mr Mich881 Hurford108te of &)pointment: 11112120181 Mr Nl¢hol8s Redmayne (Date ofAppolntment'. 0810312021) NrJonath8n Maddox IDato of Appointment.. 27106120231 MrGorald Mccarthy ID8te ofAppolntment: 2710612023) Conts Mrsknianda Noon (Clerk to the Trustees) 42 Gainsborough Ri88 Bedford MK417PR ()Polnted 15June 2018) Bank•r• HSBC 12 AUh8llowy, Bodford. MK40 1 U. Ind•p•nd•nl Ex•mln•r• Loui$¢ Tunley FCA CTA DChA 19 Goldington Road. Bedlord. MK40 3JY Inv••tm•nt Ad101* R•thbon6$ Investmem M8n8goment 8 Flnsbury Circus. London. EC2M 7AZ
THE FREDERICK RAYTRUST Tru•t•o1 Raport For The Yaar Endod S W12024 The Trustees present their Annual Report together Mryth the irNl8pendendy 8xamined accounts for the y98rended 5 April 2024. A¢¢ountlng Poucy The Charity's accounts are prepared on a Recoipts and Payments basis. ¢JtMrning Doeum•nt Tha Gh8rlty is run in ac¢ord8n¢e with its 81)veming ingtrument. a Scheme dated 19 December 1955. with amendments to the Scheme dated 20 Novombw 1956. 21 Soptomber 1967. 16 February2016 and 26 February2018. ObJ•ets Und8r th8 t8rm8 of the Charlty. the Tru8tO88 were 8mpowered to puich080 lano in or near Kempston, Bedford loi tho 6rectlon of cortag68 to house aged. poor or Inllrm persons, Ilvlng In rural Kempston. Stagsden or B8dford. Following the cr88tion of the Charity. a suitable site was 8cquired in the south of Bedford off the Cardlngton Road. Th8 Is now namod Ra3 Clos8 and 18 bungalow8 have been rected to date. With th8 exception of periods of refurbishment the Trust'8 propertie¥ are 100% o¢cupled. Upon recel¥ln8 Confimatlon from tho Ch8rrty Comrnis8ion that further 8chemo 8m8ndm8ntg were unnece888ry. the tru8tee8 8greed to include torn6r membern of the Royal Angii8n ReOm8nt 88 potentlol beneflclarles. 88 long as they mgt all other exi81ing 8election crliorl8. tmtl Durlng the yearthe Trustee¥ havè eontlnued a pro8r8mme of planned m8lntenance and rapairs to keep the 81te and propertles well rnalntained and in good condrtion for the well-being of resld6nr8. Resld8nt8 8re kapt Informed ol works 8nd relevant new8 by way of a regular n6w81ettertrom th8 clerk. The Trust888 h8ve a 8chedul8 of work8 over next few 5fj8r8 to upgr8de all r8m8lning bathroomB in th8 bungalows by converting them to room$. One bathroom converted to a wgtr(K¥m in M8y 2023. One bungalow became vacant In October, the bungalow w88 refurblshed and a new benellclary appointed. The door canopi88 of some of the bungalow8 were repia¢ed In Aprll 2023. Flnanclal R•vl•w Th8 ro¢elpt8 8nd payments account for the year Shod o $urplu$ of É12.586 Idefbclt of É190,3111 in 20231. Tot81 net as8gt¥ excluding thevalue of the properti88 amounted to £623.7141£581.594 in 20231. The propenles were revalued inApri12017 at£2,710.000. TheTrustse8 decidedto reinvest income from the invg¥tmgrrt¥ rath8rthan taking dMd8nd8. A•g•r¥•• The Tru8te88 con¥ider that tho lovel of reseNes Is appropriate hoving 88rd to future refurbishment Costs. Developm•nt Fund The trustees are consclous of the large and growing capr(al c89h reserve at their dispo981. beyond and above what18 requlred for mBinten8nce and repair. Theyhave plans in placeto acquire otherpropertles on the same 91te which become avaiLabie with v8cant POS8ession. Although the timing and mutual
benefit of the88 proposed tr8nsaction8 18 unpredict8b18. the trustees consider it prudent to keep cash readily available for a potential property purchase. and for such ca8h to be kept out of investment markets. This plan follows our failed application In 2014 and falled appeal In 2015 to build three more properties on our ¥ting site. The Trustees met th a local land agent to rewsit building more properti88 on tha 8lte. The Ioc81 p18nning policles have not ¢h8nged but the Trustees felt it W88 Worth trying agBin. This process is ongoing. Gov•rnanc• The Trustees underto0kathor0u reviewof all policy and procedufe documents in 2019. %lISt many document8 have been created and other8 updated. the proce88 18 ongoing. PubU¢ 8•n•fft The Trustees are 8W8re of the Charfty Comml885on8 guldan¢e on pul)Uc baneflt and conslder that the charlt8ble oblects fau weliwlihln the publlc benofit guldollnes. The truste0$ 8180 regularly monltor the 8ki118 available to them 88 a trustee body. Signed on bohalf of tho TNsteo8 MrChri8topherRay, Chaimian D8t8
THE FREDERICK RAYTRUST Independont Examln•r'• A•port to th•Tru•tau ofTh• Froderlek RayTrugt I report to the charity trustee8 on my examination of the accounts of the charity for th8 year ended 5 Apri12Q24 whi¢h are set on pogos 6 to 7. Re8pon¥lbllttl•¥ and ba¥1¥ of r•port As the chorlty's trustees you are ieBponsible forthe preparation olihe accounts in a¢¢ordan¢8 wlth the requirements of the Chafilies Act 2011 Ilhe Aa"). I report In respect of myex8mln8tlon of the ¢h8rty'y aCCOLtnts carrl¢d out under geetlon 145 01 the Act and in carrying out my ex8mination I h8ve lollowed 811 the applicable Direction5 given by th8 Charity Commls8lon under $¢ctlon 145151{bl 01tho Act. Ind•p•nd•nt •xamln•e# *tatwn•nt I hav8 completed my ex8min8tion. I confimi that no material matter8 have come Io rny 8ttentlon In connection with the oxaminats.on gjving mo ¢8U$6 to betsev6 th8t in any material ffe$pect: accouniin8 records were kept In respect oTth8 charty a8 r8qulr8d by8ection 130 of the Act; or 2. the accounts do not complyryth the appilc8bio requlrements concemlngthe form and content ofthe 8ccount8 8et oul In the Ch8rhle8 (Accounts and Roport8) Regulation¥ 2008 otherthan any requlrement Ihat the a¢¢ounts giv8 a 'tru8 and falr vl8v/ which 18 not A matter conJid8rad afj part of an independent ex8mSn8tlon. I h8ve no concerns 8nd h8ve comeacross no othor m8tter¥ in connoction v•ith th8 examin8tionto 1c attention Should be drawn in this report in order to 8ngbLe a proper under8tandingof the accounts to be reached. LoulseTunley FCACTA DChA Chanered A¢count8nt 19 Goldlngton Road Bedford MK40 3JY Date: 31712La(4
ThE FREDERICK RAYTRUST YEAR ENDED SAPRIL2024 AECEivfs AND PAYMENTSACCOUNT Uiir••irl¢i•d RECEIPTS Weekly Malntenance Ch8rg InvB$tm•nt Incom Bank Interost othor Incom• 93,139 806 Tot•1 R•c•lpts 104M17 1111 PAYMEP4TS AlmshouieA8soeb#t BankChory• C•rtrllnk Flat08 Cl•rk Elgctdc Q•n•r•l Exp•n•o1 chrIrnam0T8tU1tt0B Grounds M•lnien•n¢• Injur89 L8VI &ProlessloMIt• Inlin& 8t4ilonery. po•tap.tal•phts R•furblBlwnents R•palr8 &m•lnt4n•ncg Wot•r 23a 61 6.905 756 12.750 431 753 1.050 18,180 1.875 615 100 13.762 75 1.124 16.246 129 .133 Tot•1 P•ym•nt• N•1 Of r•o•Ipl••ndp•n•rrt 90.311 CASH FUNDSATL4sfvEAReND 352.410 TrANSFEK8TO INVEsfMETrKACCOUNT CASH FUMDS ATTHIS YEAB ENO 27
THE FREDERICKAAYTRusr YEAR ENDEDSAPRIL2024 8TATEMENTOFASSÈTSAND LIlLmE5A5AT5APH•L1fj24 ASSETS ¢••h n• Current MoneyMan4pi MonoyMar*8ts 673 1rJJ,012 150.1XMI 31.079 81,020 150.000 T•t•l lund¥ In¥••lm•rt•M•t• (M•rk•tV•lu•) Extr8ordlnory Repalr Fund G•rt•mllnvMtm¢ntA¢¢ount 151,812 140.390 430,204 Tot•1 IrbV••tm•ntuMt• 612,714 570,594 N#t1onolnl8 8dI 11,(KKI 11,000 824714 $01, Inve8tm•ntPrDp•ftyiMIrt¢lV•lu•l 2.710.IX¥) 2,710.IXIO TOTALAIIETS 3.853. LIABILITIES ExeE88 OFA88Ef6 OVERUABILMU J,SS3,WJ