REGISTERED CHARITY NUMBER: 215515
REPORT OF THETRUSTEESAND UNAUDITED FINANCIAL STATEMENTS FOR THE YEARENDED 24 JUNE 2022
FOR
THE UNITED CHARITYOF WILLIAM AVERY
THE UNITED CHARITY OF WILLIAM AY ERY AND OTHERS
CONTENTS OF THE[FINANCIAL][ STATEMENTS] FOR THE YEAR ENDED 24 JUNE 2022
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|Page|
|Reference|and|Administrative|Details|1|
|Report|of the Trustees|2|lo|3|
|Statement|of Trustees'|Responsibilities|4|
|Independent|Examiner's|Report|5|
|Statement|of Financial|Activities|6|
|Balance|Sheet|7|
|Notes|to|the|Financial|Statements|8|to|13|
|Detailed|Statement|of Financial|Activities|14|
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
REFERENCE AND ADMINISTRATIVEDETAILS FOR THE YEAR ENDED 24 JUNE 2022
TRUSTEES G Hargreaves Mrs $ M Whiting CW Antrobus DB Birch A R Pargetter Mrs E, A Peacock M R Greenway T Jerrard-Dinn PRINCIPAL ADDRESS C/O Cacks Lloyd Riversley House Coton Road Nuneaton Warwickshire CV1I1ISTX
REGISTERED CHARITY NUMBER 215515
CLERK
Mathew Jones Cocks Lloyd solicitors Riversiey House Coton Road Nuneaton CV115TX
ACCOUNTANTS
Armstrongs Bishop Simmons L.ld Gethin House 36 Bond Street Nuneaton CV11 4DA
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 24 JUNE 2022
The trustees present their report with the financial statements of the charity for the year ended 24 June 2022. 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
The objects of the charity are the management and lelting of its lands and investments and the application of its income, after deduction of proper expenses, to relicving persons who are in conditions of need, hardship or distress by making grants or paying for items calculated to reduce the need, hardship or distress of such persons.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in setting the grant making policy for the year.
ACHIEVEMENT AND PERFORMANCE
This year the charity made 26 distributions to the Needy totalling £7,150 compared to 28 distributions totalling £7,000 in the previous year. In addition a contribution was made to the Fillongley Village Hal! of £400.
FINANCIAL REVIEW
Investment policy
The scheme requires the trustees to invest surplus funds in the Charitics Official Investment Fund.
Reserves policy
The trustees have established a policy whereby the free reserves will be applicd towards its objects as soon as possible beneficiaries are identified.
Total unrestricted income for the year amounted to £38,744 whilst expenditure totalled £17,627 with the result that net income amounted to £21,146.
Other investments being Charities Official Investment Fund Income Shares, decreased in value during the year by £37,461 and the unrealised loss was debited to endowment fund.
At 24 June 2022, the unrestricted general funds of the charity had increased by £21,146 to £98,640; the designated extraordinary repairs fund remained at £20,000 and endowment funds have decreased by £37,461 from £2,308,978 to £2,271,517.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Structure, Governance and Management
The charity was established by a scheme of the Board of Education on 13 October 1972 as varied by a scheme at 13 July 1978. The trustees have full power within the limits prescribed by the schemes to make rules for the management of the charity and the conduct of its business.
The trustees are appointed by the board of trustees and serve for five years after which period they may put themselves forward for re-appointment.
The induction process for any newly appointed trustee comprises an initial meeting with the other trustees to explain their responsibilities and the objectives of the charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS FOR THEREPORT YEAROF ENDTHE TRUST24 JUNE E ES2022D
Approved by order ofthe board of trustees 01 00... ccseeeeeseeeeeeeoneereeeee atid signed on its behalf by:
; % a Nn ar G Hargreaves - ‘Trustee
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THE UNITED CHARITY OF WILLIAM AVERY
FOR THE YEAR ENDED 24 JUNE 2022
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. in preparing those financial statements, the trustees are required to
-
select suitable accounting policies and then apply them consisicntly;
-
- observe the methods and principles in the Charity SORP;
-
make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities,
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
{n order to assist you to fulfil your duties under the Charities Act 2011 and regulations thereunder, we have prepared for your approval the financial statements of the United Charity of William Avery and Others which comprise the Statement of Financial Activities, the Balance Sheet and the related notes from the charity's accounting records and from information and explanations you have given us. As a practising member firm ofthe[Institute][of][ Chartered][Accountants][in][England][and][Wales][(ICAEW),][we][are][subject][to] its ethical and other professional requirements which are detailed at hitp:/Avww.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Trustees of The United Charity of William Avery and Others as a body, in accordance with the terms of our engagement letter dated 29 August 2014, Our work has been undertaken solely to prepare for your approval the accounts of The United Charity of William Avery and Others and state those matters that we have agreed to state to then in accordance with AAF 2/10 as detailed at icaew.com/compilation.
This report should not therefore be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Armstrongs Bishop Simmons for any purpose or in any context. Any party other than the Trustees which obtains access to this report or a copy and chooses to rely on this report (or any part ofit} will do so at its own risk. To the fullest extent permitted by law, Bishop Simmons Limited will accept no responsibility or liability in respect of this report to any other party and shall not be liable for any loss, damage or expense of whatsoever nature which is caused by any person's reliance on representations in this report.
lt is your duty to ensure that The United Charity of William Avery and Others has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and incoming and outgoing resources of the charity under the Charities Act 2011 and regulations thereunder. You consider that The United Charity of William Avery and Others is exempt from the statutory audit requirements for the year.
We have not been instructed to carry out an audit or a review of the accounts of The United Charity of William Avery and Others. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not therefore, express any opinion on the statutory accounts.
Armstrongs Bishop Simmons Chartered Accountants Gethin House 36 Bond Street Nuneaton CV114DA
Date: oe eseeceecsssecesssensseserenescnesessees
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 24 JUNE 2022
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|---|---|---|---|---|---|
|2022|2021|
|Unrestricted|Endowment|Total|Total|
|funds|fund|funds|funds|
|Notes|£|£|£|£,|
|INCOME AND ENDOWMENTS FROM|
|Investment income|2|38,773|-|38,773|38,182|
|EXPENDITURE|ON|
|Raising funds|5,779|-|5,779|5,612|
|CharitableGrants payableactivities|7,550|-|7,550|27,532|
|Support costs|2,880|-|2,880|2,880|
|Governance costs|1,418|-|1,418|1,208|
|Total|17,627|-|17,627|37,232|
|Net gains/(losses) on investments|-|(37,461)|(37,461)|91,671|
|NET INCOME((EXPENDITURE)|21,146|(37,461)|(16,315)|92,621|
|RECONCILIATION|OF FUNDS|
|Total funds brought|forward|77,494|2,308,978|2,386,472|2,293,851|
|TOTAL FUNDS CARRIED FORWARD|98,640|2,271,517|2,370,157|2,386,472|
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The notes form part of these financial statements
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
| BALANCE SHEET 24JUNE 2022 |
|||
|---|---|---|---|
| 2022 | 2021 | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | 5 | 2,208,699 | 2,246,160 |
| CURRENT ASSETS | |||
| Debtors Cash atbank |
6 | 5,462 159,003 |
5;325 137,993 |
| 164,465 | 143,318 | ||
| CREDITORS | |||
| Amounts fallingdue within oneyear | 7 | (3,007) | (3,006) |
| NETCURRENTASSETS | 161,458 | 140,312 | |
| TOTALASSETS LESSCURRENT | |||
| LIABILITIES | 2,370,157 | 2,386,472 | |
| NETASSETS | 2370157 | 2,386,472 | |
| FUNDS | 9 | ||
| Unrestricted funds | 98,640 | TTA94 | |
| Endowment funds | 2,271,517 | 2,308,978 | |
| TOTALFUNDS | 2,370,157 | 2,386,472 |
The financial statements were approved by the Board of Trustces and authorised for issue OM oes escent and were signed on iis behalf by:
TF
G Hargreaves - ‘Trustee
The notes form part of these financial statements
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I,
THE UNITED CHARITYOF WILLIAM AVERY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED24 JUNE 2022
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under PRS 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 "fhe 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 modifted by the revaluation ofcertain 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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
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 ofthe 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. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Rentsreceived | 18,650 | 18,706 |
| Investment income | 20,123 | 19,476 |
| 38,773 | 38,182 |
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3 TRUSTEES! REMUNERATION AND BENEFITS
THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS - continued
The trustees did not receive any remuneration in the year. The trustees meeting costs amount to £218 (2021 £Nil) ‘There were no related party transactions in the year.
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|---|---|---|---|---|---|---|
|4,|COMPARATIVES|FOR THE STATEMENT|OF|FINANCIAL|ACTIVITIES|
|Unrestricted|Endowment|Total|
|funds|fund|funds|
|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Investment income|38,182|-|38,182|
|EXPENDITURE ON|
|Raising|funds|5,612|-|5,612|
|Charitable|activities|
|Grants|payable|27;532|7|27,532|
|Support|costs|2,880|-|2,880|
|Governance|costs|1,208|-|1,208|
|Total|37,232|-|37,232|
|Net gains|on|investments|-|91,671|91,671|
|NET INCOME|950|91,671|92,621|
|RECONCILIATION|OF|FUNDS|
|‘Total|funds|brought|forward|76,544|2.2.17,307|2,293,851|
|TOTAL FUNDS CARRIED|FORWARD|77,494|2,308,978|2,386,472|
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 24 JUNE 2022
5. FIXED ASSET INVESTMENTS
| 5. | FIXED ASSET INVESTMENTS | ||
|---|---|---|---|
| Investments | |||
| £ | |||
| MARKETVALUE | |||
| At25 June 2021 | 2,246,160 | ||
| Revaluations | (37,461) | ||
| At 24 June 2022 | 2,208,699 | ||
| NETBOOKVALUE | |||
| At24 June 2022 | 2,208,699 | ||
| At24June 2021 | 2,246,160 | ||
| Therewereno investment assets outside the UK. | |||
| Cost or valuation at24June2022 is represented by: | |||
| Invesiments | |||
| £ | |||
| Valuation in 2022 | 1,685,362 | ||
| Cost | 523,337 | ||
| 2,208,699 | |||
| Analysisoffixed asset investments | 2022 | 2021 | |
| £ | £ | ||
| Investment properties | 1,530,356 | 1,530,356 | |
| Charities Official Investment Fund - Income Shares | 678,343 | 715,804 | |
| 2,208,699 | 2,246,160 | ||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade debtors | 2,496 | 2512 | |
| Prepayments | 2,966 | 2,813 | |
| 5,462 | 5,325 |
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7; CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
NOTES TO THEFINANCIAL[STATEMENTS][-][continued] FOR THE YEAR ENDED 24 JUNE 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other creditors | 3,007 | 3,006 | |||
| 8. | ANALYSIS OFNETASSETSBETWEEN FUNDS | ||||
| 2022 | 2021 | ||||
| Unrestricted | Endowment | Total | Total | ||
| funds | fund | funds | funds | ||
| £ | £ | £ | £ | ||
| Investments | . | 2,208,699 | 2,208,699 | 2,246,160 | |
| Current assets | [01,647 | 62,818 | 164,465 | 143,318 | |
| Current liabilities | (3,007) | - | (3,007) | (3,006) | |
| 98,640 | 2,271,517 | 2,370,157 | 2,386,472 | ||
| 9: | MOVEMENT IN FUNDS | ||||
| Net | |||||
| At | movement | At | |||
| 25.6.21 | in funds | 24.6.22 | |||
| i | cf, | £ | |||
| Unrestricted funds | |||||
| Unrestricted | 57,494 | 21,146 | 78,640 | ||
| Unrestricted Designated funds | |||||
| 20,000 | - | 20,000 | |||
| 77,494 | 21,146 | 98,640 | |||
| Endowment funds | |||||
| Endowment Funds | 2,308,978 | (37,461) | 2,271,517 | ||
| TOTALFUNDS | 2,386,472 | (16,315) | 2,370,157 | ||
| Netmovement in funds, included in the above are as follows: | |||||
| incoming | Resources | Gains and | Movement | ||
| resources | expended | losses | in funds | ||
| 5 | £ | £ | 2g | ||
| Unrestricted funds | |||||
| Unrestricted | 38,773 | (17,627) | - | 21,146 | |
| Endowment funds | |||||
| EndowmentFunds | - | - | (37,461) | (37,461 } | |
| TOTALFUNDS | 38,773 | (17,627) | (37,461) | (16,315) |
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS
NOTESTO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 24 JUNE 2022
9: MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
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|---|---|---|---|---|
|Net|
|At|movement|At|
|25.6.20|in|funds|24.6.21|
|£|£|£|
|Unrestricted|funds|
|Unrestricted|56,544|950|57,494|
|Unrestricted Designated|funds|
|20,000|-|20,000|
|76,544|950|77,494|
|Endowment|funds|
|Endowment|Funds|2,217,307|91,671|2,308,978|
|TOTAL|FUNDS|2,293,851|92,621|2,386,472|
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Comparative net movement in Junds, included in the above are as follows:
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|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in|funds|
|£|£|£|£|
|Unrestricted|funds|
|Unrestricted|38,182|(37,232)|-|950|
|Endowment|funds|
|Endowment|Funds|-|-|91,671|91,671|
|TOTAL FUNDS|38,182|(37,232)|91,671|92,621|
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Unrestricted general funds comprise those funds which the trustees are free to use in accordance with the charitable objects,
The trustees had set aside in a designated fund the sum of £20,000 to mect the cost of future extraordinary repairs to the charity's properties.
Endowment funds represent those assets which musi be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains and losses arising form part of the fund.
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THE UNITED CHARITY OF WILLIAM AVERY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 24 JUNE 2022
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 24 June 2022,
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THE UNITED CHARITYOF WILLIAM AVERY ANDOTHERS
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|---|---|---|---|---|---|
|DETAJLED|STATEMENT|OF|FINAN|[CIAL]|[ACTIVITIES]|
|FOR THEYEAR ENDED 24|JUNE|2022|2022|2021|
|£|£|
|INCOME AND|ENDOWMENTS|
|Investment|income|
|Rents received|18,650|18,706|
|Invesiment|income|20,123|19,476|
|38,773|38,182|
|Total incoming resources|38,773|38,182|
|EXPENDITURE|
|Raising|donations and|legacies|
|Insurance|5,779|5,612|
|Charitable|activities|
|Grants to institutions|7,550|27,532|
|Support|costs|
|ManagementClerk|fees and disbursements|2,880|2,880|
|Governance|costs|
|218|.|
|‘Trustees’|expenses|$|
|SundriesAccountancy|and|legal|fees|1,200|1,200|
|1,418|1,208|
|Total resources expended|17,627|37,232|
|Net income before gains and|losses|21,146|950|
|Realised|recognised|gains|and|losses|
|Realised gains/(losses) on|fixed asset investments|(37,461)|91,671|
|Net (expenditure)/income|(16,315)|92,621|
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This page does not form part of the statutory financial statements
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