ST BERNARD’S CHARITY
Trustees Report and Financia! Statements For the Year ending 31 December 2023 independently Examined
CHARITY NO: 207727
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
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The Trustees have pleasure in presenting their report for the year ended 31 December 2023
OBIECTS AND ADMINISTRATION OF THE CHARITY
The objects of the Charity are set out in clause 4 of the Charity Commission Scheme sealed on 15 December 1967 as amended on 16" September 2013 by the Charity Commission under the power given in the Charities Act 2011 and now reads as follows:
Object — The object of the charity shail be to relieve women who are in need of financial assistance through sickness, convalescence or old age of themselves, their spouses or dependents. The trustees, with the agreement of the Charity Commission, interpret sickness in its widest context to include both physical and mental health in all its forms.
The Chair, in consultation with the other trustees by email in respect of grant applications, carries out the dayto-day administration of the Trust. All bank transfers are authorised by two trustees. All aspects of the Trust are discussed at the three formal meetings of the Trustees held each year when management accounts and expenditure schedules are presented. New Trustees are identified and appointed by the existing Trustees. The Chair of Trustees is responsible for the induction of any new Trustees, which involves awareness of a Trustee’s responsibilities, the governing document, administrative procedures and the history and objects of the Charity. A new Trustee receives a copy of the previous year’s annual report and accounts and a copy of the Charity Commission leaflet ‘The Essential Trustee ~ What you need to know’.
TRUSTEES
Mrs E Martyr (Appointed 17 June 2022)
Mrs H Y¥ Hiscox (Secretary)
Mr J E Puttock (Chair)
Mr N Sarjudeen
REGISTERED ADDRESS
Ground Foor Fiat, 89 New Church Road, Hove, BN3 4BA
FINANCIAL REVIEW
Rents received for the year ended 31 December 2021 amounted to £37,930 {2021 £34,820}. Current assets including properties total £1,695,750. Of this amount £18,750 is held at the Charity’s banks and £10,000 is ina high interest 95-day account. The balance is the current value of the Trust’s property. 88 grants (2022 108) were made during 2023 amounting to £32,617 {2022 £43,992). Lower. During the year considerable funds amounting to £10,237 were spent on property maintenance which together with other expenditure meant a deficit for the year of £5,924. This was financed from reserves. The Trustees consider sufficient funds are being carried forward to cover emergencies and to undertake any maintenance and repairs to the Trust's three properties as and when required as well as being able to positively respond to grant applications.
PUBLIC BENEFIT
The Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission when reviewing the aims and objectives and in considering grant applications. The Trustees consider that our activities reflect our aims and objectives, and that they are designed to provide accessible services and activities that benefit the public in accordance with our charitable objectives.
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PROFESSIONAL ADVISORS
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Bankers: NatWest Charities Aid Foundation Bank Redwood Bank Town Hall Branch 25 Kings Hill Avenue The Nexus Building 103 Church Road West Malling Broadway Hove Kent Letchworth Garden City BN3 2BS ME19 4TA SG6 3TA
Solicitors: Mayo Wynne Baxter Griffith Smith Farrington Webb 3 Bell Lane 47 Old Steine Lewes Brighton East Sussex BNi INW BN7 1JU independent Examiner:
MrJ R Young 7 The Crescent Southwick West Sussex BN42 4LB
POLICY ON RESERVES AND INVESTMENT POLICY
It is the general policy of the Trustees to distribute the Trust's income ona regular basis in response to applications for funding in accordance with the Trust’s objectives and retain a balance to meet unexpected expenditure on the maintenance of the 3 properties owned by the Trust, or any emergency requests for financial help. As part of this policy the Trustees continue to invest £10,000 in a 95-day account with Redwood Bank. The charity seeks to maintain a minimum balance of £10,000 in this account. Apart from the 3 properties owned by the Trust and the cash reserves there are no other capital assets.
RISK MANAGEMENT
The Trustees have considered the risks to which the Trust might be exposed. All 3 properties are fully insured and all the tenants are expected to remain the same in 2024. Income from the properties is expected to slightly increase in 2024 and regular maintenance will continue to take place. The trust has no other contractual commitments beyond the tenancy agreements.
PLANS FOR THE FUTURE
The Trustees plan to continue to make grants of financial support where appropriate in accordance with the Trust’s objects.
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The report was approved by the Trustees on XS. Anak hor,
Signed on behalf of the Trusteesoe Ae aecoeeeneesseseneeeeeeee-JONN Puttock - Trustee and Chair
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ST BERNARD'S CHARITY
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Receipts and Payments Accounts for the Year Ended 31 December 2023 Charity Number 207727
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|2023|
|Incoming|Resources|Unrestricted|Restricted|Total|Last Year|
|Funds|Funds|Funds|2022|
|£|£|£|£|
|Rents|37,930|(@)|37,930|34,880|
|Interest|341|0|341|204|
|Donations|6)|0|0|0|
|Legacy|0|0|0|0|
|Total|Incoming|resources|38,271|0|38,271|35,084|
|Resources|expended|
|Property|Maintenance|10,237|0|10,237|3,569|
|Property|Insurance|1,281|0|1,281|1,171|
|Sundry|Expenditure|0|0|0|0|
|Bank Charges|60|0|60|81|
|Donations|and|Grants|32,617|0|32,617|43,992|
|Total|resources expended|44,195|0|44,195|48,813|
|Net incoming|resources|before|-5,924|0|-5,924|-13,729|
|other|recognised|gains|or|losses|
|Gains/Losseson|Revaluation|of|
|Fixed|assests|- see|noie|1|0|0|0|65,000|
|Net movement|in funds|-5,924|0|-5,924|51,271|
|Total|Funds|brought forward|1,701,674|1,701,674|1,650,403|
|Total funds this year end|1,695,750|0|1,695,750|1,701,674|
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Balance Sheet and Statement of assets and liabilities at the end of the period
Ended 31st December 2023
| Balance Sheet and Statement of assets andSheet and Statement of assets andand Statement of assets andStatement of assets and Ended 31st December 20232023 |
Balance Sheet and Statement of assets andSheet and Statement of assets andand Statement of assets andStatement of assets andof assets andassets andand | Balance Sheet and Statement of assets andSheet and Statement of assets andand Statement of assets andStatement of assets andof assets andassets andand liabilities | liabilities at the end of the periodthe end of the periodend of the periodof the period | at the end of the periodthe end of the periodend of the periodof the periodthe periodperiod |
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| Unrestricted | Restricted | Total | LastYear | |
| Funds | Funds | Funds | 2022 | |
| FixedAssets | £ | £ | £ | £ |
| 7 NevillAvenue, Hove | 669,000 | QO | 669,000 | 669,000 |
| 17 Fallowfield Crescent, Hove | 516,000 | QO | 516,000 | 516,000 |
| 145 MontgomeryStreet, Hove | 482 000 | O | 482,006 | 482,000 |
| CurrentAssets | ||||
| CashatBanks | 18,750 | O | 18,750 | 19,496 |
| Investments | 16,000 | 0 | 10,000 | 15,178 |
| Less Creditors | ||||
| Amountfallingdue in 1year | 0 | 0 | 6 | 0 |
| NetAssetslesscurrentliabilities | 1,695,750 | 4,695,756 | 1,701,674 | |
| Represented by | ||||
| GeneralFund Revaluationofproperty Netincoming resources/losses |
1,701,674 0 -5,924 |
O | 1,701,674 6 -5,924 |
1,650,403 65,000 -13,729 |
| TotalFunds | 1,695,750 | 1,695,750 | 1,701,674 |
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The financial statements were approved by the Trustees ond tele
behalf=~ ,
Trustee eee Name NY Perrege
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and signed on its
Hotes to the accounts
Note 1 Revaluation of Fixed Assets
In accordance with current requirements the trustees have undertaken a revaluation of its property invetments. Based on the known market trends and information available on properties in the locality the trustees have agreed to make no changes this year.
| Freehold | 2023 | 2022 | |
|---|---|---|---|
| Property | |||
| e | £ | £ | |
| AtJanuary Disposals |
1,667,060 0 |
1,667,680 0 |
1,602,000 0 |
| Revaluation | 0 | 0 | 65,000 |
| 1,667,000 | 1,687,000 | 1,667,000 | |
| Freehold property: | |||
| 17 FallowfieldCrescent | 516,000 | 516,000 | 516,000 |
| 145MontgomeryStreet 7 NevillAvenue |
482,000 669,000 |
432,000 669,000 |
482,000 $69,000 |
| 1,667,000 | 1,667,600 | 1,667,000 | |
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Independent Examiner’s Report to the Members of St Bernard’s Charity
| report on the accounts of the Trust for the year ended 31 December 2023 set out on page 3 and 4 of the Receipts and Payments Accounts.
Respective responsibilities of Trustees and Examiner
The Charity's Trustees are responsible for the preparation of the financial statements. The Charity's Trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011, (“the 2011 Act”) and that an independent examination is needed.
It is my responsibility:
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to examine the accounts under section 145 of the 2011 Act:
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_ to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
My report is made solely to you as Trustees pursuant to the 2011 Act. My examination has been undertaken so that | might state to the Trustees those matters | am required to state in this report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Trustees for my examination, for my report, or for the statement | have made.
Basis of Independent Examiner's Report
My examination was carried out in accordance with 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.
Independent Examiner's Statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements: (a) to keep accounting records in accordance with sections 386 of the Companies Act 2006; and
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(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice; Accounting and Reporting by Charities have not been met; or
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(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
LD JOHN YOUNG (FCCA) set Secs ga Chartered Certified Accountant 7 The Crescent Southwick Sussex . BN42 4LB Date ... | 4]ealwi
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