THE FRANK PARKINSON YORKSHIRE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Charity R•glstr•tion No. 209322 THE FRANK PARKINSON YORKSHIRE TRUST CONTENTS Pag• Trusl8es' rew)rt Statement of Trustees, resptsnstbilrfies Ind&p•nd•nt auditofs r•port Statemnt of ffinancaal aCtivit￿S 13 BalanL* sheet 14 Notes to the finanaal slalements 15-26 THE FRANK PARKINSON YORKSHIRE TRUST TRUSTEES, REPORT LEGAL AND ADMINISTRATIVE INFORMATION for the year ended 31 Decembor 2022 Tru¥tees F￿ Trustees Llmlted Difyctors of FPYT Tru¥tso8 Ltd C G Clough R Sidebottom S De Blase V Brownridgo J Curran-Kerr H Shaw J C Hobblns Appointed 14 June 2023 Appointed 14 June 2023 Appjintod 14 June 2023 Chrity number 209322 Prin¢ipal addr••s CBrfton House Grammar Sthool Street Brgn the Charity Commission guid8n¢e and 15 used as a tool tg 8UPPOrt ¢ontinuou8 improvement. The.Board has a main for￿5 on strategy and risk management. It is aware of118 responsibilty for tha 0￿r$19h1 of the work de￿gated to committe0$ and ￿ntraCtOrS. As part of setting up the rnanagemenl agreement for the almshouses the Board monitors th81 the performance meets th* aims of The Frank Parkinson yorkshi￿ TN81. Ri8k5 are reviewed quarterly at every meeting. Thero is spoa)Ic Trugtee Invofv8menl with the Trust Se¢relary regard to appoinlrnenls. budgets, prope and gon8ral sit& and eonlract manageThnt iS$UgS. Some of Ihe Trustgos had been appointed for longer than the 9 recommended years, bul they had built up eXp￿Ienc• very wlev8nl to the Trust, which it wa$ not desired lo lose. H¢y•vever, during th¢ reporting period 3 $uch lOng-Se￿ng Trnstees have re￿gned and. at the year end, there are 7 Trusteès. Eastside Prim81imers, company approa¢hed by the Truste9$ In 2021 to prowde a managemanl overyl8w of the Trust. was further ¢wmIni3￿Oned ID seek new Trustees. as a result of which 3 were appointed in June 2023. THE FRANK PARKINSON YORKSHIRE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A report that was commissloned and Issued In September 2021 vthlch made 3 key recommendations". S￿rter and nK•re regular Board meetings; Thg recwilment ofnew Tru$lee$, ea¢h lo serve for a b'mitsd wod; Th8 appointrnent of a CEOIOp8Talions Manag8r to SUP•NS8 th8 contract ￿th th8 managing agant (than AHG) or other service provider. Th& first 2 recommendat￿￿5 have been implèmented. Trustses now meet evèry 6 week8 instead of quartedy, and 3 new Trustees have been recruited. Con$ider*ion of the third rowmmgndation- a CEO- was poslponed following the surprise withdrawal of AHG a$ manag1￿ agent. The malorlty of the Tru8tee$ cMsSdered It was not posslble lo determlne the predse scope of, or necessity for, suth a post until a new managing agent was In place. Th& appointmonl of Mulberry as managlng aggnl. vrith effe¢l from thg beginning of October 2022, has marked a ch8ng• in th& 8stsblished order of the Tnjst, in 1hat Mulberry's ièmit indudes derknng dthies in addrtion lo day to day management. Thu8, Mulbery ha8 a88um811 much of the work preMou8fy undertaken assiduou8ty by lh8 Tru$l Secretary. Th& Trusteès continu& to rnonitor th8 parfomiance of Mulbarry in this axpanded m18. and will r&a$sass tha n88d for a CEO. or otherwise, as time progressos and as part of their review of strategy and risk. All Trustees ar6 commltted lo thè aims ofTho Frank Pa￿1n30n Yorkshire Trust and athi8vin9 public benefft. They rrentty focus on the needs of elderfy people lo have local, safe, decent homes where they can slay in their (J)mmun￿ supported lor as long as posslble. Income sources are re￿eWed and the impact for the short. medlum and long term with awareness the Trust is needing lo add to the amenty fitnds at present to bring about the updated hOU￿ng standards. There are part￿ulaT needs to finance and ensurg all n9c8ssary mgasures a￿ tsken for Health and Safety suth as asb&stos, fire, drains, footpaths and improviThJ enviftmmental sl8ndord$. Trustees spend significant time in meeting$ (al whKth Mulberry are generalty represented), to ensure linter 81181 that managernenl systems are operating 5alisfactorify arKI that all legal requ¥ements are being fulfilled. Truylee8 lake into CL)n5ideialion feedback from resbdents. v68 the Estate Manager, who is Iheir most immediate point of c¢ntsrl with Mulberry. The Board has an appropriate balance of sknlls, experience, background and knrhvledge to make informed dea5ions. They have read and under3tand their roles and re5ponsiknlth8s and Thè Ess&niial Trusleo CC3 and the gwrning document. There are diverse and drfferenl or o)rfflicting views across the Board. and these are wel￿rned to ensure it works lo best effect of the Frank Parkinson Yorkshire Trust and rts beneficiaries. Diversty is representative of tha Guiseley community. The Trust8gs have different backgrounds, life 8xperiancas, rang8 of skills, cara&r paths and diffèrent ways of Ihinking. Th• Board 1$ transparènt and opèn in its worL Thèro ha$ been training av8ilable from the Almshouse Assoryti1itsn and leaming from shared informBtion from other d)arfll88 Wtth Inde￿ndent living and Invofv&menl in almshouses. All Trustees chèck their own pèrfomiance and identify their training needs. All attend management, legal or financial training or undertake continuing professional development as recommended by thelr professional Organ￿a￿ons. On occaslons Trustees share krrfiwledge gained from training with other Trustee6 al the quarterly rnee￿ngs. THE FRANK PARKINSON YORKSHIRE TRUST TRUSTEES, REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Audltor Azels Audit Sgrvkes Llmiled, tra(fing as Azets Audit Service$ were appointed audKor foll¢)wing their acquiS￿'0n of Naylor Mfinlersgin Lwnited on 1 May 2023. A resolutlon lo reappoint Az&tsAudit Services Limltg(I will be put gt a genèral meeting. Diselo$uTe of Inforniation to audttor Each of the Trustees ho$ confimed that there is no infom181ion of which they are awar8 whlch 16 relevant lo th& audit, bul of which thè auditor is unaware. Thèy have fvrth6r Conf￿rned that they have taken appropriat8 stèps lo nllfy 8uth relevant informalton and to establish that Ihe auditor is aware of such infom)athon. The Tru5t8es' report was approveil by a majority of the Board ofTrusteo8. FPYTTNStees Limited Dated.. 11 September 2024 THE FRANK PARKINSON YORKSHIRE TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The TrL￿teeS are responsible for preparing the Trustees. Report and the financlal statements In accordance wrfh appli¢ablg law and Unltad Klngdom A¢￿untIrv Standarils IUn6tsd Klngdom GenernI￿ Accepted Acc£*unb'ng Practi(%l. Th•18w applica￿& lo thartties in England and K&le$ requires the Trustees lo prepare financial statements for e* finanaal year which give a true and fair view of the slate of affaks of the Charrty and of Ihe incoming resources and application of resources of the Charity for that year. In preparing these financAal staiements. the Trustees are required to.. - Sol￿t suitable accounb'ng poliaes and then appty them consislentty.. - obsem the melhods and phnclples in the Charétles SORP.. - makeludgemenlg and estlmates that are rea80nable and prudent: - state whether applicab￿ accounting standards have boen follrhvod. subjoct to any matarial departuras disdos8d and explained in the finanrAal stalemenls: and prepare the finanaal statements on the 90in9 concem basis unless it is inappropri8t• to prns(rme that Ihe ¢hanty will continue in operation. The Trustees are responslble fr*r keeplng $uffident 8¢¢0untlng records that dlsclose wllh ￿8$onable a¢¢uraey at any b.me the finanual position of the Charty and enaL4e them to trnsure th81 the financial statements comply with the Charities A¢t 2011, the Charity IAc¢ounts and Reports) Regulations 2008 and the PTOM5ions of the trust deed. Th￿ are also reswnslbl& for safeguarding the assets of thè Charity and hence for taking reasonab￿ steps for the pr¢venlion and detection of fraud and other irregularities. THE FRANK PARKINSON YORKSHIRE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE FRANK PARKINSON YORKSHIRE TRUST Oplnlon We hove audw thè fjnancial sl8lemenls ol The Frank Parkinson Yorkshire Tru$l (the 'Charrty'l for the year ended 31 De¢ember 2023 whlch ￿mprise the slalemenl of finanryal actlwt￿s, Ihe balance sheet and th• note3 to the financial stalemenls, including a Surnmary of signifi¢anl accounllng pollcigs. Th• financial reporting framework that has btren applied in thglr preparation is appli¢8ble law and Unitèd Kingd¢)m AccountFng Standards, indudlng Finanaal Reporting Standard 102 The Flnancial Raporting S18ndard opplkab18 In th6 UK and R8publlc of Ireland (Unrted lfjngdom GenèrallyAc¢ewed Accr>unting Practsc8}. In our opinion, the financial statements.. give a Irue and fair view of the slate of the affalrs as at 31 December 2023 and of incoming resources and appllealion ol msour¢e8, for the year then ¢n(led., havè been proparfy prepared in accordan¢g wlh United ￿ngdorn Generally Accepted Accounlbng Practice,. and have teen prepared In accordance with th& r¥quiremenls of fh8 Charities Ad 2011. 8a$is for t)plnlon ¢onducled our audit in a¢cOrdar￿ with Intgmatlon81 Standards on Audlllng IUKI IISAS IUIQ) anil appllcable law. Our resF*Jns1bil￿es under those standards are further d8scrib8d in th• Authloffs rgsponslbllluos for lh& audit of the finanoal stats*m&nts Sgclron of our report. are independent of the Charity in accordanee with the ethtcal requirements tt)at are relevant to our audit of the finandal ststeM￿lS in the UK, includlng thè FRC'S Ethieal Standard. and we have fu￿111ed our other ethical responsibilities in accordance wrth thésè requirernenls. We believe that the audit ¢Mdence we havg obtalned is suffKienl aThJ approwlat8 lo promde a ba$18 for our oplnion. Con¢lwions relating to golng con¢•rn In auditing the ffinancoal statements, we have concluded that the Tru8lees' use of the g￿n9 concam basls of accnunting in the preparation of the flnancrdl statements is appropNate. Based on the work we have perfomed, we have not Idenlifjed any material un¢ertainties relating to •vents or ¢ondibons that, individually or eollectively, May cast slgnificanl doubt on the Charftls ability lo continue a8 a golng concem for o Feriod of at least iwelve months from when the financial statamants are authorised for i￿u9. Our responsiblities and the responsibilrb8s of thè Trustees with respect lo going concem oro de8C￿bad in th8 retevanl seclions of th58 report. Oth•r Inform•Uon The Trustees are responsible for thg Other infomalK)n. Th8 other Infom)alion r¥Jmpri5es th9 Infom)alkJn induded in Ihe annual roport other than the financial $181ernent8 and our audltor's report thereon. Our opinion on the financlal 8tatem8nts Iloès ntsl ¢over the other information and, except to the extent otherwise eXpl￿ttY slated In our report, we th) not 9xpro88 any lorrn of assuran¢e ￿ndus1On theTg0n. In conne¢lton with our audit of th8 financial slatements, our responsibility is to ro4d the other information and. in doing 80. consKler whether the other information is mateiialty inc4)nsi5tent with the financial statements or OUT knowlèdgè obtained in the audrt or otherwise appears to be materially misstated. If we Identify such material incon$islenaes or apparent material misstaternents, we arè required lo d&tamilne whether Ihere is a material misstatement in the financial stslements or a material misslalèment of the other informalKJn. If. based on thè work we have perfom7ed. we ￿ndUde that Ihere is a rnatarial mlsstatement of this other information. we are rgquired to rgport that fact. We have nothlng to rgport in this regard. THE FRANK PARKINSON YORKSHIRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TOTHE TRUSTEES OF THE FRANK PARKINSON YORKSHIRE TRUST tt•r¥ on ththl¢h w• ar• r•qulv•d to r•port by oxc•pthn In the ￿ght of th8 knowlgdgo 8nd undèrstanding of Ihg Charity and Its enwronment obtsined in the ¢ourne of the audtt, we have not tdenlfied materlal mlsslatements In the Twstees'Annual Report. We have nothing to r•port in respe¢i of tho folowing Matte￿ in rdalion to whith the Charities IAccounts and Repoiisl Rogulafjons 200B requbre us to report lo you or. In our oplnoon.. adequate 8¢C£sunting re¢ordy Iwe not been kept ¢)r relums adequate for audit ha￿ r￿t been Teceind from branches not visited by us., th8 financral statem6nts are not in agre8Thnt with Ihe accounting ra¢￿d$ and relums: certain disdosures of Trl￿tees. remunerolion speufied by law ale not made: or wo havo not obl￿ned all th9 Infomiatlon and gxplanauons necgssary for the purpose8 of our audlL Re•pon¥lbilitI￿ of Tr￿t0•S As explainod more fully h the Trustees. ￿spOnSI￿1￿eS statemenL the Trustee5 are responsible for the preparation of the fin8w818tatements and for belng satisfied that they give * true and fair view, and for such in*emal control as they delemilne 18 noce888ry to eria￿e thè preparat￿n of fmancial 8latemènls that ar8 free from malerf sstalefflenl, whether due lo fraud or errtsT. In preparing Ihe financTral statements. Ihe Trustees ale responsibl8 for a$￿SIng lh& ¢harity'$ ability lo ¢onlinw 8$ 8 going concem. disdosing. a¥ applicable. matters rdated to going oonc8m and using goiThJ eon¢8m bBSiS accounting unlgss th8 Trustees eli her intend to ceaso operations, or havo no realtsllc altemalivo bul to do so. Audltof• r•8pon$lbllltl•• for tho •udlt of th• fin•nclal •l•tym•nts Our obfrctives ar¢ to obtaln reasone*l8 058urance ab￿t whether the flnandal statements as a whc4e are free from materf81 mlsslalemgnt. whothor due to fraud or error, and lo Issue an authtor's roport that indude8 our opinMIn. Reasonable assurnr)¢o Is a high levtrl of as8ur*nce. but is a guarantee that an audit conthjcted in acojrdance wtlh ISA8 IUK) wlll ah¥ays deled a materlal mlsslatsmènl when it exists. Misslalèmenls can arise from fraud or error and afy ¢onsidered material rf, indwidualy or in the aggregate, they could reasonably be expgcted to inlu8nc8 the economlc dedsh)n8 of users tsken on the basls of these finandal statements. A fijrther de8uiptKJn of our responsibilitie8 for the audit of the financAal statements is locat8d on the FinancAal Réwling Count4Ys websitè at www.1rc.oi .uklaudil¢xsres ¢Jnsibililie& Thi$ dgscrptI￿ fom6 part of our aud1￿$ 10- THE FRANK PARKINSON YORKSHIRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE FRANK PARKINSON YORKSHIRE TRUST Extènt to whlch the audlt was conslderfjd capabl• of dotectlng IrrngulafftS08, Includlng fraud lffegularftyas. Including fraud. are in8tan¢es of non-compllance wrfth laws $nd regulations. We design procgdures Ni Ine Yrith our responsibilities, ouUin?d above and on the Financial Reporting Counal's websrte, lo detect material mi55tatsments In Tespect of irregul8rMle$, induding fraud. We obtsin and update our understanding of the enlity. Its adivrbes, its cKJntrol enwronrnent, and Ilkety ftrture dovalopments, induding In r8lation to the legal and regulatory framework applicable how the entlty is cornplying with that fram8work. Based on this undèrstsnding, we idenllfy and assess the risk8 of material misslalement of th• financial statements, whether due to fraud or error, d8sign ?nd perfomi audlt procèdures responslve to those rlsks. and obtain audit gvldence that is sufflciant and appropriate to providè a basi5 for our opinion. This Indudos ¢onsldeTatKJn ofthe risk of acts by the entty Ihatwere contrary lo 8ppllcable laws and regulath)n8. Including fraud. In response lo the llsk of irregula￿￿e6 and non-￿)MplanGe with laws and regulations. induding fraud. wa designed Pro￿duleS whl¢h included.. Enquiry of management and those ¢h8rged wrfh gov&mance around 8¢tual and potential liligatTon and Claims as well as actual, suspectèd and alleged fraud., Reviewing minute8 of meetings of those charged with governanee.. Assessing the extent of Complian￿ with the laws and regulotion8 cc*)sidered to have a dlrect mat&rSal effect on the financial statements or the operations of Iho onbty through enquiry and Inspection,. Revièwing financAal slalemenl disd0su￿S and testing to $upporting documentalion lo sssess ujmpliance with 9Ppl￿ble laws and regulalKJns'. Performing audit work ovar the risk of management blas and overrid8 of eontrols. induding testing of Journal entries and other adjuslments for approprialene8s, èvaluating thè bu8ine3s rationale of Significant transactions outsid• the ncfmal o)urse of businoss and revwing aG¢ounling e8lNnat8$ for Indlcators of ptslenlial bias. Bet*use of the inherent limitstions of an audit, I￿rg is a ri8k that we will not dètect all irregularilles, including those leading to a matèrial misslatemènl In the finanaal slalements or non-compliance wrfh regulation. This risk increases the more that compllance WFth a law or regulation is removed from the events and transactions reffleiaed in the financAal statemenls, as we will be less likely to become aware of instan￿3 of non-compliance. The rfsk of not dolecting a material misslalemènl resutting from fraud is hIg￿r than for one resulting from error. as fraud may Invol￿ co1￿￿10n. lorgery, intentional omisslons. misrepresentslions. or the oveffide of Internal control. Use of our rnport This report 1$ made solely to the tharitys tru$lee$. as a body, wlth part 4 of the Charitles {AccountS and Reports} Rggulalitsn8 2008. Our audlt work has bean undertaken so that we might slate to the Charfty's trustees those matters we are required to slate lo tham in an auditorfs report and for no other Pufpose. To thè fullest oxt8nt pemiitted by law, we do not 8￿Pt or as$ume responsibility lo anyone olhgr than the Charstys trustees as a boty. for our audit worK for thi$ report, or forthe opinkjns we have fomed. This report is made 801ely to the company's members, a$ a body. in a¢¢or¢Jance with $9¢1h)n 391 of the Compani86 Act 2014. Our audit work has b99n undertaken so that we rnighl state to the compan￿$ mèmbers those matters we are reqUI￿d to State to them in an auditorfs report and for no othgr purpose. To the lullgst extent permitted by law. we do ￿*1 arcepl or assumg responsibility to anyone other than the ￿MpanY and th& ¢ompany's m9mt*rs as txxly, for our audrt work, for this report, or for thg opinions we have fomed. 11 THE FRANK PARKINSON YORKSHIRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE FRANK PARKINSON YORKSHIRE TRUST Ali50n Whalley (Senlor Statutory Audltor) for and on b•half of Az•ts Audlt Strrvl¢•s 11 September 2024 Chartered Accountants ststutory Audltor Carlton House Grammar School Stre&t Bradford BD14NS AzetB Audit Services is eligible ftsr appointment as 8udttor of fhe Charty by ￿rtue of rts elogibilrty for appolnlmenl as audilor of a ￿rnpanY under section 1212 oflhe Compani85 Act 2006. 12- THE FRANK PARKINSON YORKSHIRE TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 In¢ome from: Charitablè actiVTtie8 Investmen18 304.087 92,241 269,310 85.674 Total in¢om• 396,328 354,984 enditure on.. Charitable activiti 368.079 416,016 Not In¢ome before oth•r r•cogniwd gairbsllloswl 28.249 (61,032} Other Trcognis•d galns and lo￿05 A¢tuari8110ss on defined benefit pension thme Nel galnslOos6es1 on inve$tmgnls 19 10 15,8191 34,691 15,2641 1120.7431 Ilot movemgnt In fund• 57.121 {187,039) Fund balat)ces al 1 January 2023 3.161,216 3,348.255 Fund balancès •t 31 December 2023 3,218.337 3,161,216 The statement ol finan¢kwl activthes includgs all gains and k)sse8 tecognised in the ye8r. All inixjme and expendiluie deri￿ from continuing aclthties. All fi4nd5 in the current and prior years are unrethcled. 13- THE FRANK PARKINSON YORKSHIRE TRUST BALANCE SHEEr ASAT 31 DECEMBER 2023 2023 2022 Flx•d ass•ts Tangible assets Investments 12 13 726.193 2.005.120 772.677 1.969.484 2,731,313 2,742,161 Curront ••$•ts Debtors Cash al bank and in hand 14 6,4B4 678.005 69,089 651,367 682,489 720,436 Crndltorn: amounts fallng du• wlthln on• y•4r 15 174.9441 (172,705) Nel c#Jrrent assets 607,545 547.731 T¢Aal assets 1999 current liabiliti•s 3,338,858 3.289.892 Crnditots: amounts talling du• aft•r morè than on• y•ar 17 15,000} (10,L]00 Provl$lon$ for liabillfi•$ 19 1115,5211 (118.6761 Not as$ots 3.218,337 3.161.216 Income fund5 Unrèstricted fund$= 08signat8d funds General Un￿$triCted funds 856,229 2.362.108 870,418 2.29).798 3.218.337 3,161.216 3.218.337 3.161.216 Thè attounls werè approv8d by Tru8lee8 ￿ 11 September 2024 FPYT Trusl88s Limiled Trustee F￿TruSte•S ￿mIl•d TN$t•• 14- THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countlng poll¢itB Ch•rfty Informatlon The Frank Parkin50n Yorkshire Trust Is a Charity govemed by its Trust Deed. 1.1 Aeeounting conv•nllon The awunl$ have b99n prepared in a¢¢ordance with the Charity's Trust Dggd dated 17 Octobèr 1950 and amended on 27 Oclob•r 2015, the Charities Act 2011 and "Awunllng and Rap¢rting by Charities.. Slatgmenl of Recommended Practlce applicable to charities prepariThJ their accounts In a¢cordaneA wtth the FinanrAal Réporting Standard applicable in th& UK and Republic of I￿land IFRS 1021. las amended for accounting perfods cornmenang from 1 January 20191. The Charity is a Publ￿ Benefft Enlmy as dèfined by FRS 102. The fina￿la1 $tstem8nts have departed from the CharIt￿8 IAccounl$ and Reports} Regulations 2008 only to the exienl iequlred lo provKle a tr￿ and fair Mew. This departure has invofved following the Statemènt of Recommended Practice for charities apptying FRS 102 rather than th& version of the Slatem•nl of Recommènded Pract￿8 wh￿h is referred lo in thg Regulations bul whlth has since been withdrawn. The financral $tatsmenfs are prepar&J in sterflng, which Is the functional cuTh8nry of the Charty. Monétary arnounls In Ihw ffinanual statèments are rounded lo the nearest £. The finanaal Statements have b8en prepared under the histori¢al c051 convènt￿, modffied lo include th6 revaluation of freehokl properties and to indude investment propertf6s and C￿1n financAal instruments at lair valLFe. The principal o¢counling polio&s adopted are set out balow. 12 Gging concern At the lime of approviNJ the finanrial statements. the Trust*•s have a reason8ble expect8ll¢n that th8 Charity has adequate resources to continue in operafv'on41 existencè fr*r the foreseeab￿ future. Thus the Truste05 continue to adopt the going conr*rn basis of a(wunting in preparing the rManc￿ stalgments. 1.3 Charltabltr funds Unreslrid8¢J fvnds are available for usa at the discretlon of the Trustees In furth¥rance of th￿r Charitable objectives. Designated funds com￿1s8 fvnds whl¢h have been set a8lde at the discretion of the Trustses for sperfjc pU￿oSe$. The purFoses and uses of tha des*Jnat8d lunds are $91 out in the notes to the financi81 stslement$. Reylrided funds are subj8d lo spec4fic ￿ndI￿or￿S by donors as lo how they may b• u¥ed. The purposes and uses of tha reslricled fvnd$ are set out in the nol8S to th• finandal slalements. Endowment funds are subjod to $peafic Gond6tk*n8 by donors that the capttal musl be maintain8d by the Charity. 1.4 In¢ome Income is re¢ognis8d whan the Charty 1$ legally enlllkd lo it after any performan¢e COnd￿onS have ￿en met. the amounts can be measured reli8bty. and it is probable that iTKome will be re¢ewed. Cash donatiorb$ #re recognis•d on recetpl. Other donations are re¢o9nl8ed once the Charity has bèen notitbj of the don81ion, unless performance conditions requirè deferral of the amount. In¢om8 lax recoverable In Telalion to donations rec•ived under Grfl￿d or deeds of ￿venant Is recogni58d at the time of the donation. Legacies are recognised on receipt or othetwlse rflhe Charity has begn Th)lffied of an Impènding distribullon. the amount is known, and IKglpl is expe¢ted. If the amount is not known, the begacy 1$ treated a$ a contingent asset. 15- THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounting poli¢i•s IC•ntinu•d Inte￿81 on ffiJnd8 held on deposll Is Snduded when recefv8ble and the amount can be measured rellably by the i*arity,' this 15 norrnalty upon nolificalion of the interest paid or payable by the bank D￿ldendS are iecognised once the dividend has been ￿￿red and notification has been fecewed ofthe dividend due. 1.5 Expendithre LiabilitiwJ a￿ r￿gnis￿d as soon 8$1herè is a 18gal or ttJrt$lructNè obligation txrnmrfling thè charity to the expenditure. All expenditure 13 accounted for on an accwal basis and has teen daBsthed un(Jer headings that aggregate all costs related to the category. Grants payable a￿ p8ymenl$ made lo third parties in the fvrther8ni* ofthe (*aritable objèctlves. Where Ihe charity gives a grant with condttions for its payment being a spectfic level ol serNice or outy)ul lo be provided. such grants are only recognised in the Statement of Financ4al Aoawities once the recyient of the grant ha8 provided Ihe sp8cffic seNc8 or oulpul. Grants payaNe wrfhotrt performancg ￿ndIllonS are onty rgcy)gnlsgd In the aw)unts when a commrtmont has been made and ihere are no condAions to be met relating to the grant which remain in the control of the PrO￿810n for grants Is made when the Intenlon to make a granl ha$ been ￿mMun￿91ed lo the rec4plenl but the￿ is uncertainty about either the timing ofthe g￿nI or the amount of the gianl payabl&. T•nglbl8 flx•d 09$ots Tangible fixed assets cosllng £300 er morè arè Inftlally measured at cost and SLthequenlly measured at cost cf valuation. net of depreciat￿n and any impaim)8ntl05￿$. DeprecAalon Is recognised so a5 to wrlte off the cost or valuatlon of assets less Ihelr residual values over their l￿ful lives on the following bases.. Freehold bullding$ Leasehold buildings Freehold Improvemen18 F￿LureS and ffttings 2% straKJht line basis 2°1• slravJht line basis 5% stra￿4ht line ba81s 5% and l￿A straight line basi$ The Trustees consider that the residual value of both the freehold and leasehold property is at least o)st, Bs result no depreciation has been prowd8d during the year. The galn or loss arfslng on the dlsposal of an asset Is deternilned as the dfff8rence be￿een the sale proeaeds and the carrying valu& of the asset. and is recognised in net incom81(•xpendilure) for the year. 1.7 Flx•d as69t Inv95tmonts Fixed asset inve$lmenls are initlally meaSU￿d 81 trans8c*on price exduding transaction costs, and ar& subsequenlty measured at tsir value al each reporting date. Chanue5 in fair value ore reMgni8ed in net incomel{expenditure) for the year. Transaiaion costs are expen68d as incurred. Imp•im*nt offix•d ass•ts At each raporting end date, the Charity remews tho carying amounts of rts tangible assets to detonnine whether there is any indication that those assets have SLrffered an impaimient loss. If any such indication exists. Ihg re¢ov•rabl8 amount ol thg assgt 1$ estimaled In ordor to d8t8rmin8 th& exient of the impaimiont loss Irf any). THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poll¢le• (Contlnuedl Recovwable amrrtjnt is the hl9her of fair value less eosls lo sell and valua in use. In asses$lng value ift use, the estimated future cash flows are disGountsd lo their prasenl value using a pre-tax dlscount rale that reft8cts current marffel assessments of the lime value of mon8y and Ihe rt$k$ speufic lo th9 asset lor whith the slimat•$ of futuro ￿$h flow5 have not been adjusted. If Ihe recoverable amount of an asset Is estlmaled to be less than it$ carrying amount. t￿ caThying amount ol the 8S5el is r8duc￿ lo its reo)verable amount. An Impairment 1058 Is recognised immediatety in in¢omel lexpandilure) for the year. unless the relevant asset is carde¢J at a revalued amount. in whtch ¢a8e the impairm8nt lo￿ is Irealed as g revaluation demase. Recognisad Imp8irment losses are rèversed if, and only if, the reasoris for the impainnenl k)ss hav8 cea6ed to apply. ￿¢￿e an impalrmenl k)58 subsequonlty reverses, the carrying amount of tha asset is increased lo the rew$ed e8tlmate of its rwverable amount. but so that the in￿eased carrying amount does not exceèd Ihe carrying amount th81 would have been determined h8d no irnpairment10$s been recognised for the asset in prior ye8TS. A r&v8rsal of an impairmenl10ss is re￿gnISed immediately, unless the relèv8nl asset is carried Sn at a revalued amount, which case the r8v8rsal of the impalrmenl k)ss 1$ Ire818d 88 a revaluallon In¢￿aSe. 1.9 Cash and cg$h •qulvalents Cash and cash equivalents Include eA$h in hand. d•posils held at call wilh banks, other short-term Ilquld investments with original maturities of three months or less, and bsnk overdrafts. Bank overdrafts ar& shown within borrowing$ in current Ibabilities. 1.10 Finan¢lal InStrum￿ts The Charity has elected to apply the provisrons of Seclon f1 'Bastc FinancAal Instruments, and Section 12 'Other Financial Instruments Issuas, of FRS 102 to all of its financlal Instruments. Financial instmments are rg¢ognlsed in thg Chath's balane* sheet when the Charity becrMn&s party lo thg contractu81 proM81ons of the instrument. Finanaal assets and liabilitias are offs81, wrth the nel amounts presented in the flnancial statements, whan there is a legally enforceable right to set off the recognised amounts and thore 15 an inlenuon lo sélt￿ on o net basis or lo realise the assgt and settle th6 liability simultaneously. 8a$ir financlal assots B8si¢ finanual assets, whith indude debtors, are initi'ally measured at transaction pric8 Indudlng transacllon eosts and are subsgquenlty carried 81 amortised ¢ost using the Èffective interest method unles$ the arrangement constttutès 8 financing tran$action, where Ihe transaction 18 mèasured 81 the present valuè Of the fijluie receipts dl8counted al a market rale of inter¢sL Financial ass¥ts da55ifigd as receivable wthln one year are not amortised. Basic flnanelalliabilieies Baslc financial liabililie8. Including creditor8 and bank kJan$ are inilialty r¥c4nised al Iransaction price unless the 8rrangem8nl constitutes a finan¢lng transaction. Whe￿ the debl instrument is measured al tha prèsent value of the futur¢ payments discountèd 81 a market rate of interest. Financial liabilities classified as payable within one year are not amortiBed. Debt instruments are sub8equentty Carried at amorlised cost, using the effe¢Aiv8 inleresl rate method, Tradè ereditors are Obl￿a￿n5 to pay ftrr goods or that have been acquirgd In thè ordinary rx)ur8e of operations from suppliers. Amoun18 payable are da8sffied as current liabilities if payment is du9 within one year or less. If ntrl, they are près¥nted as non-(xJrrenl liabilities. Trade creditors are recognised inili8lly al transaction prlce and subsequently measured at amortised cost u$ing the eff8¢kn interest method. 17- THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 A¢countin4 poli¢1 (Continued DeT•cognltlon of financlal IlabHltles Financial liabiltiti8 are der￿ogniSed when the ChariVs contractual obligations explre or gre di¥thar9ed or canCel￿d. 1.11 R•t5r•m•nt bgn•flts The charty operatss a wlK*Ity unfijnded pension stheme for ils past employees. The present value of the future obligats'on to the charity's currènt p8nsionèrs 18 suffi¢ientty material to be recognised as a pension Ikgbilty for which provi81on 18 made In thes& accounts. Thg liabilty ha$ been ¢al¢ulg18d on the a38umplions that pen31ons in paymerrt ￿11 Increase at a rate of hvo per Cent Pgr annum and that the appropriate discount rate lo be applied in calculating Ihe present value of the 1Sability 1$ Ilvee per cent per annum. Criti¢¥l a¢countin8 e•tim#te¥ and judgements In the applicatM)n of the Charity's aw)untin9 policies, the Trustees are reqLtITed lo make judg6m6nls. eslmates 8nd assumptions about th8 carrying amount tsf 888è1s and liabil￿"èS that are not réadity apparent from oth&r sources. The esltmates and a$soa8led 8ssumplion5 are based on historical experience and othgr tsclors 1hal are ¢￿SKIe￿￿ to be relevanL Actual restsms may differ from Ihese estimates. The g$lirnates and Unde￿ing assumplions are reviewed on an ongoing basis. Revisions to aC￿untIng estimates are recognlsed in the period in which the estimate is revised where the revision affects onty that period, or in the period of the revision and fvlure periods where the ra￿SlOn affacls bo1h current and ftrturé peris)ds. Ar￿Untir￿￿ estima18s and judg8rn8nts in respect of the Reliremfjnt Bènafrt Sd)ème ar¢ $¢t out in Nots 19. harllabl• a¢tlvStl 2023 2022 Amenlty charges 304.087 269.310 1nvv4lm￿ts Unrestricted Unrestrfct•d fund* funds 2023 2022 In¢om0 from listed inve$lmenl$ Interest rec8ivabl8 88.549 3,692 83.092 2.562 92.241 85.674 -18- THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CO￿rINuED FOR THE YEAR ENDED 31 DECEMBER 2023 Charit•bl• a¢tlvlil•$ Unyestrlcted Unrnstri¢tod funds funds 2023 2022 D8precialion and Impalrmenl Almshous& mana9ement ¢o¥ts Light. heal and powèr Extraordinary ￿paIr¥ Repai￿ and r8newal$ Boil8r maintenance Ground rent armj water chgrges Insurance Call contre Garden￿9 Resldents activltie8 Clearang Sundry 46,483 76,503 84,973 26.769 48,052 3.088 2,267 8,270 5,094 24.520 3.102 8.187 41,053 114.019 49.162 20,849 118,052 4,022 7,190 7,357 6.477 19,885 8,016 788 337.308 394,870 Share of Support costs (sea nots 6) Share of Govem8n(* costs Isee note 6) 15.207 15,564 15,368 5,780 368.079 416.016 An¥￿1￿ by fund Unmstrictèd funds 368,079 416.016 366,079 416,016 19- THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support eosts Support GoY•rnanc• costs costs 2023 Support Gov•rnanc• Costs costs 2022 Subscriptions Website c0515 Sundry gxpenses Lagal and professh)n81 955 532 517 517 735 2,537 2.537 5.616 62 5,616 82 8,042 5.400 117 Bank charg8S AccountarKy 117 Audit fees Trustees, travd and meeting costs Accountsry Trust9es Ro¢ruitmgnl 8,1C 8.100 4.500 804 804 360 6.300 980 300 980 300 6,300 15,207 15,564 30.771 15,366 5,780 21,146 Anatysetj btheen Charitable activit*s 15.207 15,564 30.771 15,366 5.780 21,146 All support and govem8nce crfls are attributable to the Trusfs cuThent prIn￿paI chaiitable activity, namely, Ihe prowyion of almshouse aC￿mMOdatI)n. Gov8mance costs includes payments lo th8 auditors for audr( f08s of£7,20D12022- £4.5110) indusive of VAT. Tru$tMs The accounts productqon of Fpyf Llmited was paid for by Frank Parkinson Yorkshir& Trust amovnung lo £360 {2022., £3001. None of the Iwslees (or any persons conneded wlh them) receNed any remuner*ion or beneftts from the ChaTTty durtng the year (2022.. None). Employ••s Thgr8 were gmpkty8•s during th8 year (2022 none). Taxation The Charity18 exempt from tax on income falllng within part11 ol the COrporat￿n Tax Act 2010 and on galn8 falling within 5256 of the Taxation of Chargeable Gains Act 1992 to the extent that these arè ap￿led to 115 ohorilable objeclives. No charge to tax h9$ arisen during thi$ or th9 prgvlous ygar. THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 10 N•t gainslllo••¢sl on Inve#lments Unrn¥trict•d Unrestrfct•d fvnd$ funds 2023 2022 Rev81uatfjon ol investments 34.891 1120,743) 11 Twtion The charity Is exempt from tsx on Income and gains falling within section 505 ofthe Taxes Act 1988 or section 252 of the Taxalionof Char9ealAe Gains AIA 1992 to the extent that these a￿ applied to its ¢harilable obje¢t$. 12 Tangible fixgd a¥¥•ts Froohold bulldlnoi Lgasohold Fr••hold FMur•• qnd bulkllrhots tmprov•m8nts ffttlngB Totsi Cost At 1 January 2023 78.675 237,334 312,668 563.428 1.192,105 Al 31 December 2023 78,675 237,334 312,668 563.428 1,192,105 D•pre¢lation and Imylrnxnt At 1 January 2023 Doprecialion charggd In the year 104.221 15,833 315,208 30.850 419.429 46,463 At 31 D9Ggmber 2023 119,854 346,058 465,912 C4rrylng amount At 31 D￿ember 2023 78,875 237,334 192,814 217,370 726.193 At 31 Decernber 2022 78.875 237,334 208,447 246,220 772,677 The land and buildings at Towngate Guis&ley Induded in the leaseh)kl arrK)unling 10 £07,602 is leased from 1 January 1951 for 999 ￿tyr5. land and buildln9s al 8iThJley Lands Guiseley 1ndl￿ed in the amounting to É189,7321s leased from 1 January 1964 for 999 yaars. 21 THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Flxod asset Inv•#tm8fftts Li•ted Inv9Stm•nts Valuation At 1 January 2023 Additions Valuation chanps Disposals 1.969.484 1.086.581 34.891 11,085,636) Al 31 December2023 2.(Q5,120 CarylTrg amount Al 31 December 2023 2.Crf)5,120 Al 31 December 2022 1.969,484 14 Debtorn 2023 2022 Amounts falling du• wlthln on• y•ar. Trade debtors Other debtors Prepayment$ arKI 4￿rU￿ ineome 1,732 2,792 62,759 3.518 4,752 6,484 69,C69 15 Credrtoys: •mounts falllng du• wlthln on• y•ar 2023 2022 Notes Grants payable Deferred income Tr8de ereditors Other credf(ors Accruals 5,000 1,737 17.959 10,893 39,355 5,000 4.535 268 52,228 110,674 74,944 172.705 THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Grants payalJl• 2023 2022 Granis payabl8 10,000 15,IX Payablg wlthin one year Payable aftèr one year 5,000 5,000 10,000 17 Cr•ditors: amounts falllng due aft￿ mor• than on• y•ar 2023 2022 Grants payable 5.¢)00 10,000 18 Nerrgd income 2023 2022 Other deferred income 1,737 Deferred ineome is indudgd wi the ffinancio18ts16ments a$ foll¢)ws.' 2023 2022 D8ferrod ￿¢￿rne is induded within: CuThenl h'atri1it1gS 1,n7 4,535 M0￿Ments in tha year Deferr¢d inix>me al 1 January 2023 Released from pre￿ou￿ periods Resources deferred In thè year 4,535 (4.535) 1,737 1,034 (1.034 4,53S Dalerred Ino)me al 31 December 2023 1,737 THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS {coKfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Provisions lor Ilabllltles- Retlrnment benefit s¢hemes The Frank Parknnson Yorkshirn Trust operat88 a unfunded pension scheme for two (2022.. two) of ts past 8mployees. Schemè l￿bIll￿¥• Movtrm•nts In the pr6s•nl value ofdefined ben•fll oblkJalbn$'. 2023 2022 Liabiliiie$ 811 January 2023 Benèfrts P3kl Actuarial losse$ 118.676 18.974) 5.819 122.312 18,9001 5,264 At 31 DeGember 2023 115,521 118,678 The defined benefft oblgations aris¢ from plans lunded a$ follows: 2023 2022 Wholty unfvnd•d obligatKJns 115.521 118.676 The tru8te66 havè agreed that the present valuè of the fvture obligation to ils current Pensioner8 is 8uffic*nty material to be recogni5ed as a pension liability of the Trust for which provision should b& made in these accounts. Thè liab¢lty hAs been vmlued by the trustees on thè 8&%umptths that ￿NsionS paymÈnt$ will incre#sÈ at 8 rate of I￿0 per cent per annum and that the approprfale dl8counl r8le lo be awlied In calculafjng the present value of liabilty 1$ Ihr*è yr Cant p•r annum. The Iruslee5 have not requested an independent actuarial valuat￿n of the pension liabilty. Th8 p8nsKJn liabilrty has been valued by the tru5198s al £115.521 at 31 Decemb8T 2023 {2022.' £118,878). -24- THE FRANK PARKIMSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS ICON71NUEDI FOR THE YEARE•IDED 31 DECEMBER 2023 funds%thb*hav8bven M•v•m•ntknknd6 fuThds Ft<*dAssd F￿j E¥bwrduyary R•p*kFvnd 811729 146,4841 TS7.245 I46,￿> 5.431 12D.849) 24,1sa 3.307 126.769) 27.Dl8 3A54 MBlThI8n￿ee Fund 104,298 {43.9441 ag.512 128Asai 44,176 11S,504 Aglrten* Fund 6,125 (74,1081 67.903 119,5911 30.4è2 io. 924162 I1￿.3051 131.ésl 8TD.418 I121.￿4) 107.115 ri4wlfvnd 2.424,1￿ 354.984 12x1.8311 1191.6S11 11Z6.0071 2.2W.7 395.325 1246.775} 1107,1151 28,8Tk 2.W.IC6 fi* 3,34ll.255 354, 141$P181 1IX.WTJ 3.101.216 28 1*8,079) 28.On 421J.337 THE FRANK PARKINSON YORKSHIRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Anatysls of n•1 0$$gts bolw••n ffund$ General Deslgnated fundg Funds 2023 2023 Total General D•¥Sgnated funds Fundg 2022 2022 Totsl 2023 2022 Fund b81anc8s at 31 De¢ombar 2023 ar• represented by.. Tangible assets Investments Current 85setsllliabliti*$) Long lfrrm liabilitt8S Prowsionsand pensions 728.193 726.193 5.432 2.iX)5,120 1.969,484 607,545 346,360 {5.OC¥)} (lo,￿0} 767.245 772,677 1,969,484 547.731 110,000) 2,005,120 807,545 {5,000) 201,371 (115,521) 1115,521) (118,676} (118,676) 2.492.144 726,193 3,218,337 2,192,frJO 968,616 3.161.216 22 Relatsd party transactlon8 Transa¢tion¥ wlth r•latod parties During the year the Chanty entered into the ft)Iltiwng tran8a¢tion8 with related part*8= Expenses were T￿rnbUrsed to dIT￿Or5 of Fpyf Trustee3 knmiled, the corporate Trustee, amounting to £27 travel and £nil for office Ixjsts lo Iwo Irustee812022- £979 travel and aecommodalion èxpenses and £123 office costs. ￿0 trustees) during the year. Vouchers were recEwed ty 3 Irustees arnounling lo £75012022- £nil). -26-