Charity registration number= 201092 Dame Mary Yate Charity Annual Report and Financial Statements for the Year Ended 2 February 2025
Dame Mary Yate Charity Contents (continued) Reference and Adminislralive Details Trustees. Report 2to3 Statement of Trustees, Responsibillties Independent Examiner's Report Statement of Financial Activities B818nce Sheet Notes lo the Financial Statements 81015
Dame Mary Yate Charity Reference and Administrative Details Trustees Reverend J Moran Mrs S Breeden Mrs T Crane Dr l Reed Mr J Charuk Charlty Reglstratlon Number 201092 Principal Office Sundrift Victoria Road Dodford Bromsgrove Worcestershire B61 9BZ Independent Examiner M A Skellum FCA Ballards LLP 11 c Kiiigswood Road Hampton Lovett Droitwich Spa Worcestershire WR9 OQH P8ge 1
Dame Mary Yate Charity Trustees. Report The trusle&s present the annual report together with the financial slat8menls of the charity for the year ended 2 February 2025. The trustees have adopted tha provisions of Accounling 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 IFRS1021 leffeclive 1 January 20191. Objectlves and actlvltles Objects and aims The object of the charity is to provide almshouses lo almspeople, in accordance with the provisions of the scheme sealed in June 1970. The qualifications for an almshouse are that the almspeople should be poor single women resident in the parish of Chaddesley Corbett, in the County of Worceslershire, or in default of suitsble applicants, poor single women resident in parishes adjacent lo Chaddesley Corbell. In default of suitsble applicants under the aforesaid provisions. almspeople lo be poor single women Sident within the County of WOrStershIre or its adjacent counties. In this case, preference being given to those with famili81 or other connection to Chadde31ey Corbett or adjacent Parishes. In relieving either generally or individually persons qualifying under these provisions who are in conditions of need, hardship or distress, by making grants of money or providing or payng for items, services or facilities calculated lo reduce the need, hardship or distress of such persons. Public benefit The trLJStees confirm that Ihey have complied wilh the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales by carrying out its normal aclivilies. Achievements and performance The Quinquennial was completed by the architect during this financial year and repairs slarted., lo date the roof repairs, upgrade to shower, and some minor works have been completed. The st of those agreed lo be completed in 2025. The WMC was calculated using LHA rates, but deferred lo April 2025, to coincide with the increases in LHA allowances for residents. The Iruslees renewed building up reserves again in the ERF and CM funds, and so have allocated amounts using the recommended AA guidelines. Investment policy The trustees adopt a cautious approach towards investment by investing onty in The National Association of Almshouses Common Investment Fund units lo provide a b81ance beeen income and capil81 growth. IM&G 8re their m8in investments). Details of the investments are shown in the notes lo the accounts. The perfomance of these funds during 2024-25 have been much better. P8ge 2
Dame Mary Yate Charity Trustees. Report (continued) structure, governance and management Naturo of govgrning documont The charity is controlled by ils governing document, a deed of Irusl, and conslitules an unincorporated charity. Recruitment and appointment of trustees Trustees are recruited and appointed al the discretion of the existing trustees. Each trustee is appointed for a renewable term of 5 years. A new Irustee was appointed during 2024-25 - Mr John Charuk. Clerk The clerk to the charlty is Mrs Christine Stading The annual report was approved by the Iruslees of the charity on behalf by: 9th M.ay.2025 and signed on its Dr l Reed Trustee P8ge 3
Dame Mary Yate Charity statement of Trustees. Responsibilities The Iruslees ar& responsible for preparing the trustees, report and the financial slalemenls in accordance with tha United Kingdom Accounting Standards Iunited Kingdom Ganeffilly Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the Iruslees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial ststements, the trustees are required to". select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent- slate whether applicable accounting standards have been followed, subject to any malerial departures disclosed and explaingd in the financial stal8ments', and repare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounllng records that dlsclose with reasonable accumcy at any time the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constilulion. 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 corporate and financial information inclLFded on the charitable company's websit2. Legislation governing th2 preparation and issemination of financial statements may differ from legislation in other jurisdictions. Approved by the Injstees of the charity on 9th May 2025 and signed on its behalf by.. Dr l Reed Trustee P8ge 4
Dame Mary Yats Charlty Independent Examiner's Report to the trustees of Dame Mary Yate Charlty I report lo the Iruslees on my examlnallon of the accounts of Dame Mary Yale Charily for tha year ended 2 February 2025. Responslbllllles and basls of reporl As Ihe charity trustees of Dame Mary Yate Charlty you are responsible for lh8 preparation of the accounts in accordance wilh the requiremenls of the Charities Act 20111'lh8 Act'i. I report In respect of my examinallon of the D8me Mary Yale Charlty's acLInIS carrled out ullder seclion 145 of the 2011 Act and In carrying out my examination I have followed all Ihe applicable Dlreclions given by th8 Charity Commlssion under section 145(5llbl of the Acl. Independent examlner's statement I hBv@ compl8t8d my examination. I confirm that no material matters have come io my allenllon In connection with the examination gSvlng me cause lo belleve that In any materfal respecl.. 1. accounling records were not kept In respect of Dame Mary Yat& Charlty as requlred by secllon 130 of the Act., or 2. the accounts do not accord with those records.. or 3. the accounts do not comply with Ihe accounllng requirements concerning the form and conlenl of accourbis sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requlremenl Ihal the accounts glve a 'lrue and falr vlew whlch is not a maller considered as part of an Independent oxamination. I have no concarns and have come across no olher mall8rs in connection with the ex4mSnallon lo which allenllon should b8 drawn Ihis report In order to 8nable a proper underslandlng of the accounts to be reached. A Skellum F Ballards LLP 11 G Kingswood Road Hampton Lovelt Droitwch Spa Worcestershire WR9 OQH Dat8.. Page 5
Dame Mary Yate Charity statement of Financial Activities for the Year Ended 2 February 2025 Total unrestricted funds 2025 Total unrestricted funds 2024 Note Incoma and Endowments from: Charitable activilies 28.343 25,423 Expendlture on: Charitable activities 20,210 9,035 Tol81 Expenditure Gainsllosses on investment assets 20,210 10.581 9,035 45 Nel movement in funds 18.714 16,343 Reconciliation of funds Total funds brought forward 84,529 68,186 Total funds carried forward 103,243 84,529 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2024 is shown in note 12. The notes on pages 8 to 15 form an integral part of these financial statements. P8ge 6
Dame Mary Yate Charity (Registration number: 201092 Balance Sheet as at 2 February 2025 2025 2024 Note Flxed assots Tangible assets Investments 10.619 88,090 10,619 77,509 98,709 88,128 Current assats Debtors Cash at bank and in hand 1,836 23,097 2,045 19,798 24,933 21,843 Creditors.. Amounts falling duè within one year 4,649 6,542 Net current assets 20,284 15,301 Total assets less current Ilabllltles 118,993 103,429 Creditors.. Amounts falling due after more than one year 11 Net assets 15,750 18,900 103,243 84,529 Funds of the charity: Unrestricted income funds Unreslricled Funds 103,243 84,529 Total funds 12 103,243 84,529 The financial statements on pages 6 10 16 were approved by the trustees, and aulhorised for issue on .9Jh.May.ao2& and slgned on their behalf by.. Dr l Reed Trustee The notes on pages 8 to 15 form an integral part of these financial statements. P8ge 7
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 1 Accounting policies Statement of compliance The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities pparIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparation Dame Mary Yale Charity meets the definition of a public benefit entity under FRS 102. The accounts (financial slalemenlsl have been prepared under the historical cost convention with items recognised al cost or transaction value unless otherwise staled in the relevant nolelsl to these accounts. Goln9 concern The trustees consider that there are no material uncertainties about the charitys ability lo continue as a going concern. Income and endowments Income All income is recognised in the Statement of Financial Activities once the charity has entillemenl lo the fund, it is probable that the income wll be received and the amount can be measured reliably. Expenditure Liabilties are recognised as expenditure as soon as thera is a legal or constructive obligation commilling the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrLJals basis and has been classified Ljnder headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis consistent with the use of resources. Charitable activitios Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities and services for ils b8neficiaries. It includes both costs that Can be althal8d direclly lo such aclivitlgs and those costs of an indirect nature necessary lo support them. Governance costs These include the costs attributable lo the charity's compliance with constitutional and stalulory requirements, including audit, stmtegic management and trustees meetings and reimbursed expenses. P8ge 8
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) Taxation The charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixad assets Depreciation is not provided in respect of freehold prOpee5. This is a departure from applicable accounts'ng standards which require all properties to be depreciated", in the opinion of the trustees, this departure is necessary for the financial ststements to give a true and fair view. Depreclatlon and amortlsatlon Depreciation is provided on tsngible fixed assets so as lo write off the cost or valuation, less any eslimaled residual value, over their expected useful economic life as follows.. Assat class Office eouipmenl Dapreciation method and rate 33'A SL Fixed asset investments Fixed asset investments, other than programme related investmenls, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as Ihe difference beeen sales proed$ and their markel value al the stsrt of the year, or their subsequent cost, and are charged or credited lo the Stslem8nl of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in marf(et values during the year and are credited or charged lo the Statement of Finanaal Activities based on the market value al the year end. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of c8sh and are subject to an insignificant risk of change in value. Fund structure Unrestricted funds car) be used in accordance with the charitable objectives at the discrelior) of the trustees. As well as the Revenue Reserve, the charity holds an Extraordinary Repairs Reserve this is for repairs to tha properties which, dua to their nature. cannot be anticipated. P8ge 9
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) 2 Incom• from charltabl• actlvltlos Unrestricted funds General Total 2025 Total 2024 Residents contributions 28,343 28,343 25,423 3 Analysis of governanc• and support costs Governance costs Unrestricted funds General Total 2025 Total 2024 Depreciation, amortisalion and other similar costs Other governance costs 208 150 150 150 150 150 358 Page 10
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) 4 Expondltur• on charltabl• actfvits Unrestricted funds General Total 2025 Total 2024 Note SeNices Management Maintenance Governance costs 4,289 5,604 10,167 150 4,289 5,604 10,167 150 3.775 2,235 2,667 358 20,210 20,210 9,035 5 Trustees rèmuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. No truslees have received any reimbursed expenses or any other benefits from the charity during the year. 6 Taxatlon The charity is a registered charity and is therefore exempl from taxation. Page11
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) 7 Tanglblo fix•d ass•ts Land and buildings Furniture and equipment Total Cost Al 3 February 2024 10,619 625 11,244 At 2 Febru8ry 2025 10,619 625 11.244 Depreclatlon Al 3 February 2024 625 625 Al 2 February 2025 625 625 Net book valua Al 2 February 2025 10,619 10,619 At 2 February 2024 10,619 10,619 The properties have been valued at the historic cost of £10,619. The trustees have not obtained formal valuation due lo the cost involved, however they have now obtsined a rebuild valuation which suggests that the rebuild costs of the property are in the region of £658,000. 8 Fixed asset investments 2025 2024 Other investments 88,090 77,509 Othèr investments Listed investments Total Cost or Valuatlon At 3 February 2024 Revaluation 77,509 10,581 77.509 10,581 At 2 February 2025 88,090 88,090 Net book value At 2 February 2025 88,090 88,090 At 2 February 2024 77,509 77,509 There were no investment assets outside the UK. Page 12
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) 9 Debtors 2025 2024 Prepayments 1,836 2,045 10 Creditors: amounts falling due within on& yaar 2025 2024 Other loans Accruals 3,150 1,499 3,150 3,392 4,649 6,542 11 Creditors- amounts falling due after one year 2025 2024 Oiher loans 15,750 18,900 Page 13
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) 12 Funds Balance Balance at3 Other at2 February Incoming Resources recognised February 2024 resources expended Transfers gainslllosses) 2025 Unrestricted fundg General Revenue Reserve 548 28,343 120,210) 16.8721 1,809 Designated Extraordinary Repairs Reserve Cyclical Maintenance Reserve 79.965 2,608 10,581 93,154 4,016 4,264 8,280 83,981 6,872 10,581 101,434 Total funds 84,529 28,343 20,210 10,581 103,243 Balance at3 February Incoming Resources Balance Other at2 recognised February resources expended Transfers gainslllosses) 2024 2023 Unrestricted funds General Revenue Reserve (9,368) 25,423 {9,035) 16,4721 548 Designatèd Extraordinary Repairs Reserve Cyclical Mainlenance Reserve 77.554 2,456 145 79,965 4,016 4,016 77,554 45 6.472 83,981 Total funds 68,186 25,423 {9,035) 45) 84,529 Page 14
Dame Mary Yate Charity Notes to the Financial Statements for the Year Ended 2 February 2025 (contlnued) 13 Analysls of n•1 ass•ts b•tween funds Unrestri¢led 2025 Total funds General Tangible fixed ass81s Fixed asset investments Current assets Current liabilib'es Creditors over 1 year 10,619 88,090 24,933 {4,6491 15,750 10,619 88,090 24,933 14,6491 15,750 Tolal nel assets 103,243 103,243 Unrestricted 2024 Tolal funds General Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year Total nel assets 10,619 77,509 21,843 (6,5421 18,900 10,619 77,509 21,843 16,5421 18,900 84,529 84,529 14 Related party transactions There were no related party transactions in the year. Page 15
Dame Mary Yate Charity Total 2025 Total 2024 Note Incoma and Endowments from: Residents, contributions Ulilities fftcharged Olher 23.508 4,340 495 21,602 3.821 Total Income 28,343 25,423 Expenditure on- Water rates Light, heat and power Insurance & TV Licence Repairs and maintenance Upkèep of gardens Legal & professional fees NAA subscriptions Gifts & SLindrièg Accountancy fees Clerk fees Bank Charges Depreciatbn of office equipment 16991 {2,6831 19071 {8,6121 (1.5551 (1,4041 12871 12931 {1,5001 (2.1201 11501 16501 {2,4091 17161 {1,5071 {1,1601 11631 16861 (1,3861 11501 208 Total Expenditure Cainsllosses on investment assets 20,21Q 10,581 9,035 45 Net movement in fLJnds 18,714 16,343 Reconciliation of funds Total funds brought forward Total funds carried forward 84,529 68,186 12 103,243 84,529 The notes on pages 8 to 15 form an integral part of these financial statements. Page 16