## **HENRY SMITH'S CHARITY**
**REGISTRATION NO. 207722**
## **TRUSTEES ANNUAL REPORT AND**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED**
**31 MARCH 2021**
**Abax Financial Limited**
## **HENRY SMITH'S CHARITY**
## **31 MARCH 2021**
## **Trustees**
Mr Charles N Gooch (Chairman) Mr Robert Malden (Vice Chairman) Mrs Claire Cottrell Mr Richard E Ratcliffe Mr David Fleming Mr Christopher Butler Ms Claire Fisher
## **Ex-officio trustees**
Revd. Nigel Adams Revd. Tracey Harvey
## **Bankers**
Barclays Bank plc, Newland Street, Witham
Central Board of Finance of the Church of England
Shawbrook Bank Limited
## **Solicitors**
Bright & Sons Solicitors, Newland Street, Witham
## **Surveyors**
Savills, Parkview House, Victoria Road South, Chelmsford CM1 1BT
## **Clerk**
Amanda J Bright, Bright & Sons Solicitors, Witham
## **Independent Examiner**
Veronica F Bailey FCA Abax Financial Limited 4, Chipping Hill, Witham, Essex CM8 2DE
Page 1
## **HENRY SMITH'S CHARITY**
## **REGISTRATION NO. 207722**
## **TRUSTEES ANNUAL REPORT**
The Trustees present their annual report for the year ended 31 March 2021.
Henry Smith's Charity arose from a deed dated 20 December 1641 and a decree of the Commissioners of Charitable Uses made in 1699 and later from a scheme by the Charity Commissioners dated 8th March 1910.
Trustees are appointed or reappointed at the AGM held in June. They are appointed in accordance with the trust deed.
The charity's object is to manage the property vested in it, being Whitehouse Farm in the Parish of Tolleshunt D'arcy, Essex and after defraying the expense of management divide the residue into 140 equal parts to be distributed in proportions laid down in the scheme between various ancient parishes in Suffolk, Essex, Hertford, Chester and Sussex.
The Trustees are satisfied that the Trust properties are well managed and producing a steady income for the various beneficiary parishes.
At the year end the charity held £185,045.15 cash deposits which are unrestricted. The reserves policy is to hold sufficient funds to meet unforeseen expenditure in addition to expenditure related to the upkeep of the farm and buildings. Due consideration is made annually by the Trustees as to the available funds for distribution.
Approved on behalf of the Trustees
## **Charles Gooch Chairman**
c/o Bright & Sons Solicitors 87 - 91 Newland Street Witham Essex CM8 1AD
Date 07-Jun-21
Page 2
## **HENRY SMITH'S CHARITY**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HENRY SMITH'S CHARITY**
I report on the financial statements of the Trust for the year ended 31 March 2021 as set out on pages 4 to 5.
The report is made solely to the charity's trustees, as a body in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed.
## **Respective responsibilities of trustee and examiner.**
The charity's trustees are responsible for the preparation of financial statements. The charity's trustees consider that an audit is not required for this year under Section 144(1) of the Charities Act 2011 ('the 2011 Act') and that an independent examination is needed.
It is my responsibility to:
examine the financial statements under Section 145 of the 2011 Act
to follow the procedures laid down in the General Directions given by the Charity Commission under Section 145(5) of the 2011 Act; and
to state whether particular matters have come to my attention
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations form you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- a) Which gives me reasonable cause to believe that in any material respect the requirements: - To keep accounting records in accordance with Section 130 of the 2011 Act
- To prepare financial statements which accord with the accounting records and compy with the accounting requirements of the 2011 Act;
have not been met; or
- b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
## **Abax Financial Limited**
**Veronica Bailey** Chartered Acountant Date 07-Jun-21
4, Chipping Hill Witham Essex CM8 2DE
Page 3
## **HENRY SMITH'S CHARITY**
## **FINANCIAL STATEMENT**
## **Receipts and Payments Account for the year ended 31 March 2021**
|**RECEIPTS**
**Income receipts:**
From Assets:
Rent Whitehouse Farm
Electricity Wayleave
Rent 1 Whitehouse Farm Cottages
Rent 2 Whitehouse Farm Cottages
Peter Eaton - 2020 Sewage Contribution paid in 2021
Peter Eaton sewage contribution
Peter Eaton Insurance payment
Barclays Bank plc deposit interest
Shawbrook Bank Interest
Central Board of Finance interest
**Total receipts**
**PAYMENTS**
**Direct expenditure:**
Insurance - Directors Laibility
Farm Insurance
Sewage Contribution for 2020
Country Landowners Association subscription
Fees Bright & Sons Solicitors
Fees Savills
Fees Abax Financial
Sewage maintenance and repairs less refund received
Cottage repairs and maintenance
Bank Interest
Repayment of 2 Whitehouse Farm Cottgae deposit
**Direct expenditure sub-total**
**Other expenditure**
Distribution 2018/19 at £250 per part
**Total payments**
Receipts in excess of expenses
Deposit balances brought forward
Deposit balances carried forward
per note 2.1.4|36373.0
1348.09
9300.00
7675.00
85.80
85.50
33.36
210.75
**55,111.50**
679.84
4539.09
85.80
249.00
2418.00
5006.76
555.00
171.60
1565.76
3.73
250.00
**15524.58**
35000.00
**50524.58**
**4,586.92**
180,458.23
**185,045.15**
**2021**|**£**
**£**
37384.50
-
9150.00
7050.00
-
3369.02
130.28
414.62
372.61
**57,871.03**
679.84
3369.02
800.11
236.00
3618.00
4912.98
550.00
171.60
9494.70
**23832.25**
35000.00
**58,832.25**
**961.22**
**-**
181,419.45
**180,458.23**
**2020**|**£**
**£**
37384.50
-
9150.00
7050.00
-
3369.02
130.28
414.62
372.61
**57,871.03**
679.84
3369.02
800.11
236.00
3618.00
4912.98
550.00
171.60
9494.70
**23832.25**
35000.00
**58,832.25**
**961.22**
**-**
181,419.45
**180,458.23**
**2020**|
|---|---|---|---|
|||||
||||**58,832.25**|
||||**961.22**
**-**
181,419.45|
||||**180,458.23**|
Page 4
## **HENRY SMITH'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICY**
These financial statements have been drawn up on the receipts and payments basis and comply with Section 133 of the Charities Act 2011.
## **2. STATEMENT OF ASSETS AND LIABILITIES**
## **2.1 ASSETS**
## **2.1.1** Whitehouse Farm, Tolleshunt D'Arcy, Essex, comprising some 302 acres and outbuildings.
## **2.1.2** Numbers 1 and 2 Whitehouse Farm Cottages
The farm rent continues at an all inclusive rent of £36,373 per annum, which includes £5,328 commercial rent share and £3,240 in respect of 3, Whitehouse Cottages.
No.1 cottage continued to be let for a monthly rent of £725 and in the 2021 accounts 12 payments of £775 were received giving total rent received of £9,300
No 2 cottage has been let at £650 per month and 4 rent payments of £650 were received in April, May, June and July 2020, giving a total received for this period of £2,600. From August 2020 the rent increased to £725 per month and 7 payments of this amount were received in August, Speptember, October November, December, January and February 2020. Mrs Pettit vacated the property on 01 March 2021and the total received to March 2021 came to 7 months payments of £725. Therefore there were 11 payments in total corresponding to the 11 months she occupied the property and no rent is outstanding at the year end.
The above assets were vested in the charity under a scheme of the Charity Commission dated 8th March 1910.
|**DEBTORS**
**DEPOSITS**
Barclays Bank current account
Barclays Business Premium Account
Central Board of Finance of the Church of England deposit
Bright & Sons Client Account - Rent Collection
Bright & Sons Client Account - Administration
Bright & Sons Client Account - Administration
Shawbrook Bank
Outstanding payments at year end
Jiggins Sewerage
Outstanding payments at year end
Tolleshunt D'Arcy Distribution
**Expenses**
Independent examiner's fees
**Distributions**
Total payments made to beneficiaries
Annual Distribution Tolleshunt D'Arcy
Funds received back from Tolleshunt D'Arcy
Uncashed funds - Tolleshunt D'Arcy
Payment to Tolleshunt D'Arcy
There is currently no rent oustanding on 2 White House Farm Cottages due from Mrs
Pettit.|**2021**
**2021**
**£**
6,802.97
70,001.35
49,708.44
-
6,290.55
-
52,241.84
-
-
**185,045.15**
-
-
**2021**
555.00
**555.00**
**2021**
**£**
32,000.00
5,486.97
-
2,760.00
-
11,246.97
**35,000.00**|**2020**
**2020**
79,289.00
49,708.44
2,325.00
-
65.55
52,241.84
171.60
-
3,000.00
-|
|---|---|---|
|||**180,458.23**|
|||**2020**
**£**
550.00|
|||**550.00**|
|||**2020**
35000.00|
|||**35000.00**|
## **2.1.3 DEBTORS**
## **2.1.4 DEPOSITS**
## **2.2.1 Expenses**
## **2.2.1 Distributions**
This statement of Assets and Liabilities was approved by the Trustees on 07June 2021
## **Charles Gooch Chairman**
c/o Bright & Sons 87-91 Newalnd Street Witham Essex CM8 1AD
Date 07/06/2021
Page 5
|**2011**|**£**||24,500.00|207.05|6,325.00|5,645.00|4,711.52|-||8.43|269.18||100.94|**41,767.12**|||5,525.96||||173.00|1,175.00|3,144.91|587.50|148.06|8,628.23|-|-||||**19,382.66**|25,200.00||**44,582.66**||**(2,815.54)**||||(2,000.00)||||||||(4,711.52)||**(4,295.70)**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**2012**|**£**||24,500.00|214.14|6,300.00|6,240.00|5,979.16|156.00||8.38|369.20||101.43|**43,868.31**|||6,865.27||||182.00|1,629.60|4,552.00|630.00|312.00|3,231.20|150.00|108.38||||**17,660.45**|25,200.00||**42,860.45**||**1,007.86**|||-|2,000.00|||1,000.00|||||4,711.52||**2,419.38**|
|**2013**|**£**||31,620.00|225.34|8,400.00|6,420.00|2,304.41|156.00||11.10|424.09||89.82|**49,650.76**|||3,236.68||||188.00|1,627.20|5,129.16|690.00|312.00|2,110.40|0.00|0.00||||**13,293.44**|26,600.00||**39,893.44**||**9,757.32**|||0.00|0.00|||0.00|||||||**2,347.32**|
|**2014**|**£**||31,620.00|232.81|8,400.00|6,600.00|2,250.81|246.00||17.41|257.67|-|79.43|**49,704.13**|||3,329.69||||195.00|1,920.00|3,404.74|350.00|492.00|959.22|-|-||||**10,650.65**|28,000.00||**38,650.65**||**11,053.48**|||-232.81|0.00|||0.00|||||0.00||**24,530.67**|
|**2015**|**£**||31,620.00|250.50|8,500.00|6,700.00|2,301.42|271.80||19.45|248.55|-|102.38|**50,014.10**|||3,647.77||||201.00|1,750.80|2,680.56|350.00|543.60|3,090.74|-|-|-||-|**12,264.47**|28,000.00||**40,264.47**||**9,749.63**|||232.81|-50.00||-|-|||-|-|-||**9,932.44**|
|**2016**|**£**||32,985.00|256.81|8,700.00|6,900.00|2,393.83|163.80||19.77|208.38|-|114.96|**51,742.55**|||4,035.33||||201.00|1,284.00|1,941.46|350.00|327.60|1,119.32|-|-|-||-|**9,258.71**|30,800.00||**40,058.71**||**11,683.84**||||50.00||3,080.00|-|||-1,365.00|-725.00|-||**12,723.84**|
|**2017**|||34350.00|260.36|8700.00|6900.00|2565.81|0.00||15.89|233.10|-|3.35|**53028.51**|||4,244.93||||207.00|2,160.00|3,146.02|550.00|245.70|5,890.80|-|12.50|144.00||1,356.48|**17,957.43**|32,200.00||**50,157.43**||**2,871.08**|||-|-||-3080.00|1380.00||2760.00|1365.00|725.00|-1450.00||**4,571.08**|
|**2018**|||34,350.00|266.01|8,700.00|6,900.00|5,111.33|167.70||9.55|-|391.72|166.90|**56,063.21**|||4,450.23||||217.00|1,698.00|5,035.32|550.00|171.60|3,238.80|-|12.50|-||-|**15,373.45**|32,200.00|5,486.97
-|**42,086.48**||**13,976.73**||||-920.71|||-1380.00|||||1450.00||**13,126.02**|
|**2019**|||34,350.00|-|8,700.00|6,900.00|3,476.31|432.50||130.82|411.33|246.56|-|**54,647.52**|||6,584.30||||227.00|3,618.00|10,144.48|550.00|3,089.80|1,363.90|-|5.91|-|||**25,583.39**|32000.00|11246.97|**68,830.36**||**-14,182.84**||||925.00||||||||||**-13,257.84**|
|**2020**|||37384.50||9150.00|7050.00|3369.02|||130.28|372.61|414.62|-|**57,871.03**|||679.84|3369.02|800.11||236.00|3618.00|4912.98|550.00|171.60|9494.70||||||**23,832.25**|35000.00||**58,832.25**||**-961.22**||181419.45|||||||||||180,458.23|**-961.22**|
|**2021**|||36373.00|1348.09 -|9300.00|7675.00||85.80|85.50|33.36|210.75|-|-|**55,111.50**|||679.84|4539.09|||249.00|2418.00|5006.76|555.00|171.60|1565.76|85.80|3.73|-|250.00|-|**15,524.58**|35000.00||**50,524.58**||**4,586.92**||180,458.23|||||||||||185,045.15|**4,586.92**|
|||**Income**|Rent Whitehouse Farm|Electricity Wayleave|Rent 1 Whitehouse Farm Cottages|Rent 2 Whitehouse Farm Cottages|Peter Eaton insurance refund|Peter Eaton sewage contribution for 2020 paid 2021|Peter Eaton sewage contribution|Barclays Bank plc deposit interest|Central Board of Finance interest|Shawbrook Bank Interest|CAF Bank interest
Account Closed|**Total income**|repairs|**Direct expenses**|Insurance - Director's Liability|Farm Insurance|Balance of Farm Insurance paid by The Trustees||Country Landowners Association subscription|Fees Bright & Sons|Fees Savills|Fees Abax Financial|Sewage maintenance and repairs|Cottage repairs and maintenance|Payment of 2020 Sewage Fees|Bank interest charged|EPCs|Return of Cottage Deposit|Legal Fees|**Total direct expenses**|**Distributions**|Less: un-allocated Distributions repaid by Tolleshunt D'Arcy|**Total payments**||**Net (Loss)/Profit**|**Adjust for timing of cash movements**|Deposit Balance Brought forward|2020 Sewage Fees paid in 2021|Rent due in respect of 1 Whitehouse Farm Cottages 17/18 arrears|Sewerage Maintenance and Repiars paid in 2020/21|Distribution for 2015/16 presented in 2016/17|Distributions for 2016/17 presented for payment in 2017/18|Distributions for 2017/18 presented for payment in 2018/19|Dustribution refunded by Tolleshunt D'Arcy PC|Rent due in respect of Whitehouse Farm|Rent received in respect of 1 Whitehouse Farm Cottage 2015/16 arrears|Rent due in respect of 1 Whitehouse farm cottages 16/17 arrears|Balance carried forward|**Net cash movement for the year per receipts and payments account**|
Page 6