ST BERNARD'S CHARITY Trustees Report and Financial Statements For the Year ending 31 December 2024 Independently Examined CHARITY NO: 207727
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees have pleasure in presenting their report for the year ended 31 December 2024 OBJECTS 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 underthe powergiven in the Charities Act 2011 and now reads as follows:_ The object of the charityshall be to relieve women who are in need of financial assistance through sickness, convalescence or old age of themsolves. their spouses or dependents. The trustees, With the agreement of the Charity Comrnission, interpret sickness in its widest context to include both physical and mental health in all tts forms. The Chair, in consultation with the other trustees by email in respect of grant applications, carries out the day- to-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 copy of the previous yearfs annual report and accounts and a copy of the Charity Commission leaflet Yhe Essential Trustee- What you need to knoW. TRUSTEES Mrs E Martyr Mrs H V Hiscox (Secretary) Mrj E Puttock (Chair) Mr N Sarjudeen REGISTERED ADDRESS Ground Floor Flat, 69 New Church Road, Hove, BN3 4BA FINANCIAL REVIEW Rents received for the year ended 31 December 2024 amounted to £36,820 (2023 £37,930). Current assets including properties total £1,177,996. Of this amount £11,565 is held at the Charitvs banks and £10,432 is in a high interest 95-day account. The balance is the current value of the Trust's property. 47 grants12023 881 were made during 2024 amounting to £17,633 (2023 £32,617). The lower level of grants during the year enabled the trustees to undertake significant maintenance and improvements to its properties. The cost of this over the year amounted to £25,727. Overall expenditure over the year exceeded income by £6,75412023 £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 Trusys three properties as and when required as well as being able to positively respond to grant applications. SERIOUS INCIDENT On 7 March 2024 the charity was subject to a fraudulent attack on its funds by telephone which could have resulted in the loss of charitable funds. The incident was reported to the Charity Commission (Ref 692848), Action Fraud and Natwest Bank. All funds were recovered and there wa5 no loss of charitable funds.
PUBUC BENEFIT The Trustees have complied with the duty in section 4 of the Charities Art 2011 to have due regard to the public benefit guidance published by the Charity Commission when reviewing the aims and objecttves and in considering grant applications. The Trustees consider that our artivities Teflect our aims and objectives, and that they are designed to provide acssible rViceS and activities that benefit the public in accordance with our charitable objectives. PROFESSIONAL ADVISORS Bankers: Natwest Town Hall Branch 103 Church Road Hove Charities Aid Foundation Bank 25 Kings Hill Avenue West Malling Kent Redwood Bank The Nexus Building Broadway Letchworth Garden City SG6 3TA BN3 2BS Solicitors: Mayo Wynne Baxter 3 Bell Lane Lewes East Sussex BN7 IJU Independent Examiner: Mrj R Young 7 The Crescent Southwick West Sussex BN42 4LB ME19 4TA Griffith Smith Farrington Webb 47 Old Steine Brighton BNI INW POLICY ON RESERVES AND INVESTMENT POLICY It is the general policy of the Trustees to distribute the Trust's income on a regular basis in SpOnSe to applications for funding in accordance with the Trust's objects and retain a balance to meet unexpected expenditure on the maintenance of the 3 properties owned by the Tnjst, or any emergency requests for financial help. As part of this policy the Trustees continue to invest £10,432 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 fvlly Insured and all the tenants are expected to remain the same in 2025. Income from the properties is expected to slightly increase in 2025 and regular maintenance will continue to tske 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 Trusys objects. The report was approved by the Tru son.. Signed on behalf of the Trustees by.................................-...............................John Puttock- Tnjstee and Chair
ST BERNARD'S CHARITY Recei tsandPa ments Accourts for the Year Ended 31 December 2024 Charity Number 207727 2024 Total Funds Incoming Resources Unrestricted Restricted Funds Funds Last Year 2023 Rents Interest Donations Legacy 36,820 626 600 36,820 626 600 37,930 341 Total Incoming resources 38,046 38,046 38,271 Resources expended Property Maintenance Property Insurance Sundry Expenditure Bank Charges Donations and Grants 25,727 1,380 25.727 1,380 10,237 1,281 60 17,633 60 17,633 32,617 Total resources expended 44,800 44,800 44,195 Net incoming resources before other recognised gains or losses -6,754 -6,754 -5,924 GainslLosseson Revaluation of Fixed assests - see note 1 83,000 83.000 Net movement in funds 76,246 76,246 -5,924 , Total Funds brought forward Total funds th5s year end 1,695,750 1,771,996 1,695,750 1,771,996 1,701,674 1,695,750
Balance Sheet and Statement of assets and liabilities at the end of the period Ended 31st December 2024 Unrestricted Restricted Funds Funds Total Funds Last Year 2023 Flxed Assets 7 Nevill Avenue, Hove 17 Fallowfield Crescent, Hove 145 Montgomery Street, Hove Current Assets Cash at Banks Investments Less Creditors Amount falling due in l year 698,000 542,000 510,IM] 698,000 542,000 510,1)00 669,000 516,000 482,000 11,565 10,432 11,565 10.432 18,750 10,000 Net Assets less current liabilities 1,771,997 1,771,997 1,695,750 Represented by General Fund Revaluation of propety Net incoming reSOus110SseS Total Funds 1,695,750 83,000 -6,754 1,771,996 1,695,750 83,000 -6,754 1,771,996 1,701,674 -5,924 1,695,750 The fina cial statements were approved by the Trustees on ... behalf by: and signed on its Trustee Name T......P.11 T-i O Notes to the accounts Note l 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 undertaken a revaluation this year as below. Freehold Property 2024 2023 At January Disposals Revaluation 1,667,000 1.667,000 1,667,000 83,000 1,750,000 1,667,000 1,667,000 Freehold property: 17 Fallowfield Crescent 145 Montgomery Street 7 Nevill Avenue 516,000 482,000 669,000 1,667,000 542,000 510,000 698,000 1,750,000 516,000 482,000 669,000 1,667,000
Independent Examinerfs Report to the Membors of St Bemard's Charity I report on the accounts of the Trust for the year ended 31 Drnber 2024 set out on page 3 and 4 of the Receipts and Payments Accounts. Respective responsibilities of Trustees and Examtner 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 Acr) and that an independent examination is needed. It is my responsibillty-. to examine the accounts under section 145 of the 2011 Ac( 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 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 I might stste to the Trustees those matters l am required to state in this report and for no other purpo*. To the fullest extent permitted by law, I do not apt or assume responsibilty to anyone other than the Trustees for my examination, for my report, or for the statement I have made. Basis of Independent Examinerfs Report My examination was carried out in accordan 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 prOdureS undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent Examine5 Ststement In connection with my examination. no matter has come to my attention: {1) (a) which gives me reasonable cause to believe that, in any material respect, the requirements: to keep accounting records in accordan with sections 386 of the Companies Act 2006", and 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 (b) (2) to which, in my opinion, attents'on should be drawn in order to enable a proper understanding of the accounts to be reached. JOHN YOUNG (FCCA) Chartered Certtfied Accountant 7 The CreSnt Southwick Sussex 8N42 4LB Date .