THE SAMUEL BERNARD FROST CHARITY
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report together with the financial statements for the year ended 31 March 2024. 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;
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make judgements and estimates that are reasonable and prudent;
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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
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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 30 January 2025 and signed on their behalf by:
Mrs M C Hunt
(Trustee)
Mrs A Murphy
(Trustee)
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Charity Name No (if any)
The Samuel Bernard Frost Charity 216113
Receipts and payments accounts CC16a
For the period Period start date Period end date
To
from 01/04/2023 31/03/2024
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds Last year
funds funds funds
to the nearest
to the nearest £ to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Rents received 31,619 - - 31,619 32,572
Investment Income 284 - 284 1,083
Grant - - - -
Other incoming resources - - - 136
- - - -
- - - - -
- - - - -
- - - - -
Sub total (Gross income for
- - 31,903 33,791
AR) [ 31,903 ]
A2 Asset and investment sales,
(see table).
- - - -
- - - - -
Sub total - - - - -
Total receipts 31,903 - - 31,903 33,791
A3 Payments
Property maintenance 16,042 - - 16,042 1,928
Gardening 2,159 - - 2,159 1,930
Honorarium 3,918 - - 3,918 3,502
Insurance costs 2,363 - - 2,363 2,025
Legal costs - - - 200
Council Tax 257 - - 257 294
Water Rates 491 - - 491 2,801
TV License - - 52
Light and Heat 272 - - 272 -
Subscriptions 610 610 37
Accountancy 936 936 1,404
Sundries 118 - - 118 113
Sub total 27,166 - - 27,166 14,286
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total - - - - -
Total payments 27,166 - - 27,166 14,286
Net of receipts/(payments) 4,737 - - 4,737 19,505
A5 Transfers between funds - - - - -
A6 Cash funds last year end 57,380 - - 57,380 37,875
Cash funds this year end 62,117 - - 62,117 57,380
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CCXX R1 accounts (SS)
30/01/2025
1
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 B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds |
Details Investment Portfolio:- Black Rock M&G Details Total cash funds (agree balances with receipts and payments account(s)) Loughborough BS - savings Current Account - Natwest Details CCLA COIF Details Property Details Accountancy Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ 62,117 - - - - 62,117 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ 14,094 - - - - - - - - - - - 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 372 - - - Print Name M C Hunt A Murphy |
Endowment funds to nearest £ - - - |
|---|---|---|---|
| - | |||
| OK | |||
| Endowment funds to nearest £ - - - - - - Current value (optional) 32,801 802 10,338 - Current value (optional) 890,000 - - - - - - - - When due (optional) Date of approval 30/01/2025 30/01/2025 |
CCXX R2 accounts (SS)
30/01/2025
2
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 2024 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 31/03/2024
- 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:
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accounting records were not kept in accordance with section 130 of the Act or
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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.
Signed: L S Turner Date: 30th January 2025 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
October 2018
1
IER
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).
Give here brief details of any items that the examiner wishes to disclose .
October 2018
2
IER