2021-03-31-accounts - Frost's Charity

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THE SAMUEL BERNARD FROST CHARITY

ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report together with the financial statements for the year ended 31 March 2021 The financial statements comply with the charity's trust and applicable law.

Constitution and objects

The Samuel Bernard Frost Charity is constituted under a trust deed dated 20 July 1928 and is a registered charity no. 216113.

The charity exists to provide housing in eight pre-existing bungalows. The objects are to maintain these properties for current and for future residential use. Residents qualify for accommodation by satisfying certain conditions including those of being a poor person of age 60 upwards, being an inhabitant of Loughborough and a preference is given to those who profess the Roman Catholic religion.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at such a level to provide sufficient funds to cover the management and administration of the day-to-day running and to be able to respond to any emergency repairs that may arise.

Investment policy

The trustees have considered the most appropriate policy for investing funds and have found that specialised unit trusts, designed for the charity sector, meet their requirements to generate both income and capital growth.

Trustees' responsibilities in relation to the financial statements

Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the year end. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. 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.

Approved by the trustees on 29 January 2022 and signed on their behalf by:

Mrs M C Hunt

(Trustee)

Mrs A Murphy

(Trustee)

	The Samuel Bernard Frost Charity Charity Name	The Samuel Bernard Frost Charity Charity Name	The Samuel Bernard Frost Charity Charity Name	216113 No (if any)	CC16a
	For the period from	01/04/2020 Period start date	To	31/03/2021 Period end date

Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £ 29,571 1,144 - - - - - - 30,715 - - - 30,715 41,331 2,175 3,499 1,780 2,323 3,868 2,524 362 179 106 58,147 - - - 58,147 - 27,432 - 53,930 26,498	Restricted funds to the nearest £ - - 3,000 - - - - - 3,000 - - - 3,000 3,000 - - - - - - - - 3,000 - - - 3,000 - - - -	Endowment funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total funds to the nearest £ 29,571 1,144 3,000 - - - - - 33,715 - - - 33,715 44,331 2,175 3,499 1,780 2,323 3,868 2,524 362 179 106 61,147 - - - 61,147 - 27,432	Last year to the nearest £
Rents received	29,571				21,271
Investment Income	1,144				958
Grant	-				-
Other incomingresources	-				647
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	30,715				22,876

A2 Asset and investment sales, (see table).
	-
	-				-
*Sub total*	-				-
*Total receipts* A3 Payments
					22,876

Propertymaintenance	41,331				43,448
Gardening	2,175				3,238
Honorarium	3,499				3,493
Insurance costs	1,780				1,872
Legal costs	2,323				4,270
Council Tax	3,868				5,858
Water Rates	2,524				2,805
Light and Heat	362				1,107
Subscriptions	179				10
Sundries	106				142
**Sub total **	58,147				66,243

A4 Asset and investment purchases (see table)
,	-
	-
**Sub total **	-				-
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
					66,243

	- 27,432	-	-	- 27,432	- 43,367
	-	-	-	-	-
	53,930	-	-	53,930	97,297
	26,498	-	-	26,498	53,930

CCXX R1 accounts (SS)

30/01/2022

Section B Statement of assets and liabilities at the end of the period

Categories Signed by one or two trustees on behalf of all the trustees B1 Cash funds B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets	Signature Accountancy Details Details Property Bank Account Details Details *Total cash funds* (agree balances with receipts and payments account(s)) Details Investment Portfolio	Unrestricted funds Restricted funds to nearest £ to nearest £ 26,498 - - - - - 26,498 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) unrestricted - - - - - Fund to which asset belongs Cost (optional) unrestricted - - - - - - - - Fund to which liability relates Amount due (optional) unrestricted - - - - Print Name M C Hunt A Murphy	Endowment funds to nearest £
			-
			-
			-
			-
			OK
			Endowment funds to nearest £
			-
			-
			-
			-
			-
			-
			Current value (optional)
			39,982
			-
			-
			-
			-
			Current value (optional)
			890,000
			-
			-
			-
			-
			-
			-
			-
			-
			When due (optional)






			Date of approval
		M C Hunt	29/01/2022
		A Murphy	29/01/2022

CCXX R2 accounts (SS)

30/01/2022

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of The Samuel Bernard Frost Charity

On accounts for the year 31[st] March 2021 Charity no 216113 ended (if any)

Set out on pages

(remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/03/2021.

Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report 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 2011 Act and in carrying out my examination, I have followed the 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 which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Act or
the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

Signed: Date: 29[th] January 2022

Name: Louise Turner

Relevant professional Association of Chartered Certified Accountants qualification(s) or body (if any):

Address: LST Accountancy Limited 32 Quorn Close

Loughborough, LE11 2AW

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

October 2018

IER

Give here brief details of any items that the examiner wishes to disclose .

October 2018

IER