REGISTERED CHARITY NUMBER: 215511
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 December 2024
for
Elizabeth Eman's Charity
Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard 25-33 Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
Elizabeth Eman's Charity
Contents of the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
Elizabeth Eman's Charity
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The relief of persons in need in the area of benefit, in particular by the provision of pensions, in the following order of preference: (1) Poor widows born in the former borough of Aylesbury as constituted immediately before 01 April 1974; (2) Poor widows born or resident in the area of benefit; (3) Poor women born or resident in the area of benefit; (4) Poor men born or resident in the area of benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year the charity received rental income from the property held of £58,135 (2023: £58,135) and other income of 7,028 (2023: £6,328) meaning total income was £65,163 (2023: £64,463). The charity paid annuities to pensioners totalling £57,988 (2023: £66,367) and incurred other expenses of £825 (2023: £2,282) meaning total expenses of £58,813 (2023: £68,649).
FINANCIAL REVIEW
Reserves policy
At 31 December 2024, the charity has reserves of £750,497 (2023 : £951,301). The charity does not have a specific reserves policy but is comfortable with the current reserves.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document; Scheme of the charity commissioners dated 18/06/1935, as amended by orders dated 25/08/1936, and 17/11/1953, and schemes dated 16/08/1961, 02/10/1986 and 09/11/2004.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
215511
Principal address
Horwood & James LLP 7 Temple Square Aylesbury Buckinghamshire HP20 2QB
Trustees
Mr A Sherwell Mrs J Puddefoot Ms R Takodra N Mehta CLLR Mr C M A Gylnn
Independent Examiner
Julie Graham ACCA Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard 25-33 Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
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Elizabeth Eman's Charity
Report of the Trustees FOR THE YEAR ENDED 31 DECEMBER 2024
Approved by order of the board of trustees on 21 July 2025 and signed on its behalf by:
Mr A Sherwell - Trustee
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Independent Examiner's Report to the Trustees of Elizabeth Eman's Charity
Independent examiner's report to the trustees of Elizabeth Eman's Charity
I report to the charity trustees on my examination of the accounts of Elizabeth Eman's Charity (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Julie Graham ACCA
Connolly Accountants & Business Advisors Ltd Chartered Certified Accountants The Stable Yard 25-33 Vicarage Road Stony Stratford Milton Keynes Buckinghamshire MK11 1BN
21 July 2025
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Elizabeth Eman's Charity
Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 58,135 Other income 7,028 Total 65,163 EXPENDITURE ON Raising funds 3 58,806 Other 7 Total 58,813 Net gains/(losses) on investments (207,154) NET INCOME/(EXPENDITURE) (200,804) RECONCILIATION OF FUNDS Total funds brought forward 951,301 TOTAL FUNDS CARRIED FORWARD 750,497 |
2023 Total funds £ 58,135 6,328 64,463 67,184 1,465 68,649 6,983 2,797 948,504 951,301 |
|---|---|
The notes form part of these financial statements
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Elizabeth Eman's Charity
Balance Sheet 31 DECEMBER 2024
| Notes FIXED ASSETS Investments Investments 6 Investment property 7 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Unrestricted funds TOTAL FUNDS |
2024 Unrestricted fund £ 83,570 541,000 624,570 141,236 (15,309) 125,927 750,497 750,497 750,497 750,497 |
2023 Total funds £ 81,724 750,000 831,724 134,846 (15,269) 119,577 951,301 951,301 951,301 951,301 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 21 July 2025 and were signed on its behalf by:
Mr A Sherwell - Trustee
The notes form part of these financial statements
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Elizabeth Eman's Charity
Notes to the Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Rent receivable | 58,135 | 58,135 |
continued...
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Elizabeth Eman's Charity
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. RAISING FUNDS
Raising donations and legacies
| Annuities to pensioners Support costs |
2024 £ 57,988 818 58,806 |
2023 £ 66,367 817 67,184 |
|---|---|---|
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
|---|---|
| Other trading activities | 58,135 |
| Other income | 6,328 |
| Total | 64,463 |
| EXPENDITURE ON | |
| Raising funds | 67,184 |
| Other | 1,465 |
| Total | 68,649 |
| Net gains on investments | 6,983 |
| NET INCOME | 2,797 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 948,504 |
| TOTAL FUNDS CARRIED FORWARD | 951,301 |
continued...
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Elizabeth Eman's Charity
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
6. FIXED ASSET INVESTMENTS
| Other There were no investment assets outside the UK. Investments (neither listed nor unlisted) were as follows: 511 COIF endowment 3607.12 COIF endowment 7. INVESTMENT PROPERTY FAIR VALUE At 1 January 2024 Revaluation At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 Fair value at 31 December 2024 is represented by: Valuation in 2024 Cost |
2024 £ 83,570 2024 £ 10,370 73,200 83,570 |
2023 £ 81,724 2023 £ 10,141 71,583 81,724 £ 750,000 (209,000) 541,000 541,000 750,000 £ (209,000) 750,000 541,000 |
|---|---|---|
continued...
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Elizabeth Eman's Charity
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other creditors | 15,309 | 15,269 |
9. MOVEMENT IN FUNDS
| At 1.1.24 £ Unrestricted funds General fund 951,301 TOTAL FUNDS 951,301 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 65,163 (58,813) TOTAL FUNDS 65,163 (58,813) Comparatives for movement in funds At 1.1.23 £ Unrestricted funds General fund 948,504 TOTAL FUNDS 948,504 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 64,463 (68,649) TOTAL FUNDS 64,463 (68,649) |
Net movement At in funds 31.12.24 £ £ (200,804) 750,497 (200,804) 750,497 Gains and Movemen losses in funds £ £ (207,154) (200,804) (207,154) (200,804) Net movement At in funds 31.12.23 £ £ 2,797 951,301 2,797 951,301 Gains and Movemen losses in funds £ £ 6,983 2,797 6,983 2,797 |
|---|---|
continued...
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Elizabeth Eman's Charity
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.23 £ 948,504 948,504 |
Net movement in funds £ (198,007) (198,007) |
At 31.12.24 £ 750,497 750,497 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 129,626 129,626 |
Resources expended £ (127,462) (127,462) |
Gains and Movemen losses in funds £ £ (200,171) (198,007) (200,171) (198,007) |
|---|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
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Elizabeth Eman's Charity
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Rent receivable | 58,135 | 58,135 |
| Other income | ||
| Return on investments | 7,028 | 6,328 |
| Total incoming resources | 65,163 | 64,463 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Annuities to pensioners | 57,988 | 66,367 |
| Other | ||
| Bank charges | 7 | 1,465 |
| Support costs | ||
| Other 3 | ||
| Professional fees | 43 | 40 |
| Governance costs | ||
| Miscellaneous expenses | - | 42 |
| Accountancy | 775 | 735 |
| 775 | 777 | |
| Total resources expended | 58,813 | 68,649 |
| Net income/(expenditure) | 6,350 | (4,186) |
This page does not form part of the statutory financial statements
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