Charity number: 219033 BUXTON COTTAGES TRUST UNAUDITED GOVERNORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BUXTON coAGEs TRUST CONTENTS Page Refgronco and administrative details of the charity. its governors and advisers Chairman's $tatement Governors. report Independent examiners report Statement of flnanclal actlvltles Balance shMt 10 Note$ to thfr flnan¢ial $tatomonts
BUXTON coAGEs TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS GOVERNORS AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Governors Mr M R Copestake, Chaimian Mrs M Howarth Mr M B Hawley Mr G M Beeley Reverend M Pop, ex•officio govemor Mr P Cordin Mrs P Smith (appointed 26 O¢tober 20231 Charity registered number 219033 Accountant Jonathan Wilson Chartered Accountant Cromwell House 68 Wesl Gate Mansfield Nottinghamshire NG18 1RR Bankers HSBC PLC 1 Leeming Street Mansfield Nottinghamshire NG18 1LU Soll¢ltor8 Sha¢klo¢ks LLP Sl Peter's House Bridge Street Mansfield Nottinghamshi NG18 1AL Invostmfrnt advisers Sha¢klo¢ks LLP St Peter's House Bridge House Mansfield Nottinghamshi NG18 1AL Clerk to the govgrnors Manon Vesey St Peterfs House Bridge Street Mansfield Nottinghamshire NG18 1AL
BUXTON coAGEs TRUST CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The chaimian presents his ststement for the year. It has been a very busy year for the Trust. Al our June 2023 meeting we were pleased to welcome Pauline Smith, a prospecb.ve new Governor, to observe our activities and were delighted that she subsequendy agreed lo become a Governor. The year was very much dominated by the bathroom project al the Cottages. Four companies were invited to quote and three completed applications. Durham Heating Services of Retford provided the lowest price and Governor Philip Cordin confirmed that he had experience of dealing with them for another Charity and was happy to award the contract lo them. All Cottages were supplied with similar fittings. shower cabinets rather than wel room arrangements. Smaller water healing systems were also fitted, which will be more economical for the Residents. The works were completed to all 8 Cottages by the beginning of November 2023. The Residents were all extremely happy that the finished articles were better than they ever thought possible. The Residents coped admirably during the disruption, using the vacant Cottage number 8 during the day and slaying in their own Cottages al night, using a commode when works were being completed in their Cottage. Many thanks go to Ourhams and their sub-contractors, Alan Joyce Architects who supervised the works in a very professional manner, and Philip Cordin who looked after our interests and those of our Residents for what was an excellent project. During the period of the works, cracks were identified in the block of Cottages 6, 7 & 8, and investigations were carried out using a Chartered Slruclural Engineer recommended by our Archilecls. A report was prodUd by the Engineer showing subsidence which had occurred over many years. A claim was made and information passed to the Trust's Insurance Broker. A Loss Adjuster attended the Cottages in January 2024, and we continue to chase for action. Trees on our boundary with houses on Paulsons Drive have been attended lo by Tree Surgeon The Arborist, after a few complaints of branches overhanging the wall. Al our January 2024 meeting il was agreed to obtsin quotes for deCrating inside and outside of the Cottages. which had been delayed due lo Covid. The annual accounts show that totsl funds carrred forward al 31 March 2024 were £735,948. compared with £827,415 the previous year, 8 decrease of £91,467 or 11.1%. on again my thanks lo my fellow Govemors for their help and support during the year, and also lo Marion Vesey and Amy Spencer of Shaeklocks for 811 their work on behalf of the Trust. M R Copestake, Ch8innan Date.. 31 October 2024
BUXTON coAGEs TRUST GOVERNORS. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The governors present their annual report together with the financial statements of the charity for the year 1 April 2023 to 31 March 2024. The govemors confimi that the annual report and financial statements of the charity comply with the current ststutory requirements, the requirements of the charity's goveming document and the provisions of the Ststemenl of Recommended Practice ISORP), applicable to charities preparing their financial slalemenls in accordance with the Financial Reporting Stsndard FRS 102 (effective 1 January 20151 and updated in 2019. Objectlves and actlvltles . Pollcles and obJectlve8 Aims of the charity.. The aim of the 8uxton Cottages Trust is to provide good quality accommodation al a reasonable price as envisaged by the will of the late Mrs Buxton under which the trust was estsblished. Through offering this facility, the governors aim to provide a life ¢h8nging facility for those who are appointed lo the cottages as they are often people experien¢ing a¢¢ommodation diffi¢ullies whose lives ¢an be much improved by the move lo occupy one of the ttages. In setting objectives and planning for adivities, the govemors have given due consideration to general guidance published by the Charity Commission lating to public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. A¢tlvltlK undortak•n to •¢hl•vo objoctlvos The Charity's main objectives for the year 12023120241: For the year in question the specific objectives of the charity are to maintsin the buildings in good order to provide the best quality accommodation available al reasonable cost from it5 resources in accordance with the main objectives of the charity. It is also an objective of the chanty for the current year lo maintain fvll or near full occupancy levels wherever possible. Should vacancies arise dunng the course of the year, steps will be taken to publicise the vacancy an to fill the vacancy with a suitable candidate with minimum delay. Strategies for achieving objects'ves.. The governors aim to achieve the above objectives as follows.. Maintenance programme.. The governors will use income lo cover the cost of routine maintenance and will engage trusted local tradesmen to cary out this work. Occupancy levels.. The governors will, as usual, instruct the clerk lo take pre-agreed steps to facililale the filling of vacancies with all speed once vacancies have arisen and been reported. A vacancy in cottage 8 arose in October 2022. Given the imminent work to the bathrooms and full decoration in each cottage, it was decided by the Trust that cottage 8 would not be advertised unt'l after the refurbishments are completed.
BUXTON coAGEs TRUST GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Objectlves and actlvlties Icontlnued) c. Maln actlvltles undertaken to further the charlty's purposes for the publSc beneflt Objectives of the charty.. The main objective of the charity is to provide accommodation to those in need and who qualify for such accommodation under the terms of the trust. The governors 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. Achlevements and perfomiance •. Revlow of a¢tlvltloS Occupancy levels.. The governors would set as their preferred benchmark a desire that no dwelling should remain vacant wilhoul the payment of ¢onlribulions for a period in ex¢ess of Ihree months in re$pe¢l of each va¢an¢y unless there are exceptional circumstances arising. Factors within and outside the charitls control which a levant lo the achievement of ils objectives.. The charity has ¢apitsl funds which are invested and the investment performance in respect of those funds will have an influence on capital refvrbishmenl project5 going forward. The income of the charity is sufficient lo meet expenditure of a normal recurring nature. The capitsl projects will be fvnded from lin the mainl capital reserves. Where Improvement lo the dwellings is to be undertaken and where services are purchased by the governors, they have no control over labour arbd material costs and the vanatsons in those c051s that might arise from lime to lime. However, the extent of any such expenditure is well controlled and well planned and therefore it is unlikely that any variations will disrupt the plans of the governors given that a substantial proportion of any of the refurbishment or improvement camed out, lends lo be al the behest of the govemors seeking to improve the conditions of residence rather than to be driven by other extemal events. b. Investment policy and performance The govemors have as their investment objective the generation of income lo meet some of the Irusl's oulgoings. Part of the objective is lo ensure that they can continue lo provide a subsidy lo the residents of the almshouses by having sufficient income to discharge oulgoings lo maintain the level of contribution of the residents at as low a level as possible without having to enforce increases. In addition, the governors also wish to try to achieve some potential growth on the capital lo try lo keep pa with inllalion. The governors see equity-based investments as satisfying their medium lo long temi growth requirements and are mindful of the need lo maintain adequale cash reserves to meet short term needs and lo consider the use of other asset classes (such as fixed interest) from time to time as appropriate, to ensure that they hold a well baland portfolio.
BUXTON coAGEs TRUST GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 FSnanclal revlew . Golng concern After making appropriate enquiries, the govemors have a reasonable expectslion that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. Further detsils regarding the adopb'on of the going concern basis can be found in the accounting policies. b. Reserves pollcy Reason for holding reserves.. The governors wish lo maintain a level of reserve, whreh is capable of being invested lo generate an income, which will meet some of the outgoings of the Irusl. Part of the objeelive is to ensure th81 they Can Continue to provide a subsidy lo the residents of the almshouses by having sufficient income to discharge oulgoings to maintsin the level of Contributions of the residents at as low a level as possible without having lo enforce in¢rease$. In addition, the govemors also wish to try to achieve some potential growth on the capitsl lo try to keep pace with inflats'on. Level of reserves.. The governors wish lo maintain a level of reserves suffioent lo enable repairs and additions to be carried out to the property and lo give them the potenbal to further the aims of the trust by the addition of fvrther premises or facilities if appropriate. The govemors are also mindftjl that they have no other regular source of income (excluding the contributions towards maintenance and healing by the re51denlsl and that they therefore need to maintain sufficient level of reserves to generate a high enough level of income lo ensure that they are always able lo meet their oulgoings. Designation of re5erves'. Part of the reserves has been designated as a sinking ftjnd for the longer term, for partial or lolal refurbishment in the long term future. The remainder are short to medium term reserves. designed primarily lo generate income lo enable the trust lo continue to have a regular source of income lo meet ils financial obligations an objectives. c. Flnancial highlights The governors report that outgoing resources exceeded incoming resources by £131,436 12023 resour$ exceeded incoming resources by £6,968). outgoing After taking into account the realised and unTealised gains of £39,9, the trust showed a nel decrease in funds of £91,467 compared with a net decrease in funds in 2023 of £29,765. Tolal funds carried forward at 31 March 2024 amounted to £735,948, 11.1 Qh lower than al 31 March 2023.
BUXTON coAGEs TRUST GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and management Constltutlon 8uxton Cottages Trust is a registered charity, number 219033, and is constituted by the will of Mrs Emily Buxlon which was proved on 27 September 1946. Date of will.. 1 April 1946 The desire to set UP 8 charity lo provide housing for the eldedy was conceived by the late Mr Albert Sorby 8uxton, who died in 1932, and his wife, Emity, who suNived him for fourteen years. In her will Mrs Buxton sel aside certain monies representing a considerable part of the proceeds of the sale of her estate, and enlrusled il to people whom She wished to be known as Ihe govemors of Buxton Cottages, to administer the charity. The monies were left in order that the governors might purchase a plot of land in Mansfield as a site for cottages for the housing of old men and women of the middle ¢las$, of good character, being sIdentS of Mansfield who had resided in Mansfield for not less than ten years. Various legal problems under the will had to be decided before the monies were handed over to the governors, with the result that the first meeting of the govemors was nol held until 27 May 1960. Under her will. Mrs 8uxlon provided that the govemors should comprise the vicars for the lime being of the parishes of Sl Peter. Sl John. St Mark. St Lawrence and the minister of the Old Meeting House. all in Mansfi'eld. Furtherrnore, she named certain other local business and professional people whom she wished lo act as cooplative governors, all of them being well known to her. b. Methods of appolntment or electlon of governors As a preliminary lo appoinlmenl, potential govemors are Identified by the current board of governors and are invited lo allend a business meeting of the govemors lo familiarise themselves with the charity and lo establish whether they would like lo become governors if invited to do so. The clerk 15 also available at those meetings and al other limes to discuss the role of the govemors. their responsibilities and duties and any other issues that might be relevant. Having established that a potential governor may be interested in becoming a full govemor, the current board of governors debate the issue and lif appropTialel issue an invilalion to the potential governor lo attend the next meeting at which time an election will lake place and the candidate infomied whether they have been appointe as a governor. c. Oryanisational structure and decision-making policies The affairs of the trust are administered by a board of unpaid govemors al regular four-monlhly meetings and sub<ommittees are ftom lime lo time appointed lo deal with special circumstan$ as and when they arise. The clerk lo the trustees controls activities on a day lo day basis under delegated authority. The welfare of the residents and the slate of repair of their accommodatson is thereby closely monitored.
BUXTON coAGEs TRUST GOVERNORS. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and managemenl Icontlnued d. Polleles adopted for the Inductlon and tralnlng of govemows An induction policy is in place. The govemors employ the seNices of solicitors, investment advisors and accountsnts lo carry out much of the day to day running of the charity and much of the work carried out by the solicitors and investment advisors forms an element of the training in that presentslion papers and other discussion documents are presented to the govemors for discussion. Plans for future perlods The conversion of the cottage bathrooms to shower rooms commenced on 27 July 2023 and were completed by 30 October 2023. This has enabled the Trust to provide more accessible and safer bathing facilities lo the residents living in the cottages. In the next 12 months the Twst is planning to decorate all cottages inside and out. Indopondent ex•mlnfrr The governors recommend that Jonathan Wilson remains in office until fvrther notice. Approved by order of the members of the board of govemors on 31 October 2024 and signed on their behalf by.. Mr M R Copestako (Trusteel
BUXTON coAGEs TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Indgpondgnt Examiner's Rgport to the Governors of Buxton Cottages Trust I'th8 charity'l I report to the charity governors on my examinab.on of the accounts of the chanty for the year ended 31 March 2024. Responsibilities and Basis of Report As the govemors of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charitses Act 20111.lhe 2011 Act'i. I report in respect of my examination of the charity's accounts carried out under sectson 145 of the 2011 Act and in carrying out my examination I have followed the applble Directs"ons given by the Charity Commission under section 14515llbl of the 2011 Act. Indepondgnt Examiner's Statomfrnt Your attention is drawn lo the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant reguiatsons bul has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accountsng Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no 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 chanty as required by section 130 of the 2011 Act., or the accounts do not accord with those records.. or the accounts do not comply wrth the applicable requirements concerning the form and content of accounts sel out in the Charities IAecounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination lo which allenlion should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. This report is made solely lo the charity's govemors. as a body. in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the charity's governors those matters l am required lo slate lo them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's governors as a body, for my work or for this report. Signed.. Jonathan Wilson FCA CTA Dated.. 5 November 2024 Jonathan Wilson Chartered Accountant
BUXTON coAGEs TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Totsl funds 2024 Total funds 2023 Note Income from: Charitable 8eb'vib'e$ Investments 29,635 21.514 29,635 21.514 26,208 20,864 Total Income 51,149 51,149 47,072 ExpendSture on: Charitable actsvits.es 182.585 182.585 54.040 Total 8xp8ndlturo 182,585 182,585 54,040 Net expendlture before not gaSnslllo8ses) on Investments {131,4361 39,969 1131,436} 39,969 16,9681 122,7971 Nel gainslllossesl on investments Net movement In funds (91,4671 {91.467} 129.7651 ReconcSllatlon of funds". Total funds brought forward Net movement in funds 827.415 (91,4671 827.415 {91,467} 857,180 129,7851 Total funds carrled forward 735.948 735.948 827,415 The Statement of Financial Ath'vibes indudes all gains and losses recognised in the year. The notes on pages 11 to 20 fomi part of these ffinancial statements.
BUXTON coAGEs TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Fixed assets Tangible assets Investments 72,562 656.169 72,562 742.245 728.731 814,807 Current assets Debtors Cash at bank and in hand 10 805 21.445 641 19,024 22,250 19,665 Creditors.. amounts falling due within one year 11 {15.033) 17,0571 Net current a88et8 7,217 12,608 Total net 0880ts 735,948 827.415 Charlty funds Restricted funds Unreslricled funds 13 13 735.948 827,415 735,948 827,415 The financial statements were approved and authorised for issue by the governors on 31 October 2024 and signed on their behalf by". Mr M R Copestskg (Chair of Trusleesl rs M Howarth (Trusteel The notes on pages 11 to 20 forrn part of these financial statements.
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Basls of preparatlon of flnanclal statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities." Statement of Recommended Pr8elice 8pplie8ble to charities preparing their accounts in accordanee wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeelive 1 January 20151, the Financi81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the ch8rib.es Ael 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities IA¢¢ounls and Reports) Regulabons 2008 only to the exlenl required lo provide a 'true and fairf view. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Ststemenl of Recommended Practice effective from 1 April 2005 which ha$ since been withdrawn. Buxlon Cottages Trust rneels the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recogni5ed at historical cost or Iransactson valLse Un5$ otherwise slated in the relevant accounting policy. 1.2 Golng concern Al the dale of signing there is a degree of uncertainty about the economy. the cost of living Crisis and the wider geopolitical environment. The governors continue to monitor the position closely however they believe the chanty has suffiaent reserves to continue al its current level of activity subject to ongoing investment performance and therefore continue to adopt the going concern basis. 1.3 Income All income is recognised once the charity has enlillemenl to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to investment income is recognised al the lime the investment income is receivable. 1.4 Expendlture Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in setuemenl and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. sha costs which contribute to more than one activity and support costs which are not attributable lo a single activity are appO.oned been those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciats'on charges allocated on the portion of the asset's use. Expenditure on charrtable acts'vities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT.
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl 1.5 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the governors in fvjrtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted fvnds that have been sel aside by the governors for particular purposes. The aim and use of each de&gnaled fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated lo the appropriate fund. 1.6 Interest receivablo Interest on fvnds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the insliluts'on with whom the funds are deposited. 1.7 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and sUbseqUenY measured al fair value at the balan sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on investments, in the statement of financial aclivilies. 1.8 Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their setdement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest methcrtl. 1.9 Freehold property The residents each contributed £334 from April 2023 to November 2023 and £355 from December 2023 to March 2024 each month towards maintenance and heating during the year. These amounts are set by the govemors at their discretion and are induded in the annual income of the trust. The freehold propety is shown in the balance sheet at cost. The buildings were revalued al open market value in January 2023 at £1,316,000. No depreciation is provided on freehold property because, in the opinion of the govemors, the annual depreciation charge and accumulated depreciation are imrnalerial. No depreciabon is provided on freehold land.
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Icontinuedl 1.10 Dgbtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 1.11 Cash at bank and in hand Cash al bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the dale of acquisitson or opening of the deposit or similar account. 1.12 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in seluement, and the amount of the settlement can be eslimaled reliably. Liabilities are recognised al the amount that the charity anticipates il will pay to settle the debt or the amount il has received as advanced payments for Ihe gocNJs or services il must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tsx discount rale that reflects the risks specific lo the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. General Inforn)atlon Buxton Cottages Trust is an unincorporated charity. registered in England and Wales, with The Charity Commission, registration number 219033. Income from charftable actlvltles Unrestricted funds 2024 Total funds 2024 Total funds 2023 Residents, contribubons to maintenance Residents, contributions to heating 8,979 20,656 8.979 20.656 14,803 11,405 29.635 29,635 26,208 Total 2023 26,208 26,208
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Invostment income UDrgstrictgd funds 2024 Total funds 2024 Total funds 2023 Investment income Bank deposit interest 21.333 181 21.333 181 20,829 35 21,514 21,514 20,864 Total 2023 20.864 20,864 Analysis of expenditure on charitable acllvllles Summary by expense type Unrestrlcted funds 2024 Total 2024 Total 2023 Rates and water Heating - see below Repairs and decorating Insurance Garden expenses Refurbishment of bathrooms Independent examination Legal fees Subscriptions Sundry expenses Property valuation 5.617 7,368 10.648 2.648 9.700 124,647 1.794 19,902 147 5,617 7,368 10,648 2,648 9,700 124,647 1,794 19,902 147 3,836 5,088 18,922 1,931 5.340 1,794 18,328 96 114 105 600 182,585 182.585 54,040 Total 2023 54.040 54,040
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditurg on charitable aclivities Icontinuedl Summary by exponsg typo (continugd) TolalEnergies have been the Trust's prOVer of gas since 1 March 2022. sin that dale TolalEnergies were Including a 20. rating of VAT and have been charging a Climate Change Levy on the invoices. The Trust submitted a Declaration of Use Certificate lo TotalEnergies lo qualify for 5.kn rabng of VAT and lo be exempl from the Climate Change Levy. The Trust was successful and TotalEnergies agreed lo credit all previous invoices, and Invoice again wrth the lower VAT rate and without the Climate Change Levy. Governors. remuneration and expenses During the year, no govemors received any remuneration or other benefits12023 - £NILI. During the year ended 31 March 2024, no govemor expenses have been incurred12023 - £NILI. Staff costs The charity has no employees. Tanglble flxed assets Freehold propgrty Cost or valuatlon Al 1 April 2023 72.562 Al 31 March 2024 72,562 Net book Value At 31 March 2024 72,562 Al 31 March 2023 72,562
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Fixgd assgt investments Llsted Investments Cost or valuation Al 1 April 2023 Additions Disposals Revaluations 742,245 10,955 1135,228} 38,197 Al 31 March 2024 656,169 Net book Yaluo Al 31 Marth 2024 656,169 Al 31 March 2023 742.245 10. Debtorn 2024 2023 Prepayments and accrued income 805 11. Credftors: Amounts falling due wlthin one year 2024 2023 Accrua15 and defeed incorne 15,033 7.057
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Financial instruments 2024 2023 Flnanclal assets Financial assets measured al fair value through income and expendilu 21,445 19,024 2024 2023 Flnanclal Ilabllltles Other finan¢ial liabilities measured at fair value through income and expenditure 15,033 7,057 Financial assets measured al fair value through income and expenditure comprise bank balances Other financial liabilities measured al fair value through income and expenditure comprise creditors and accruals.
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balanc8 at 1 April 2023 Transfors inlout Gainsl (Losses) Income Expenditurg Unrestrlcted funds Designatod funds Designated Fund 50,710 1124,647) 73,937 General funds General Fund 776,705 51,149 157,938) (73,937} 39,969 735,948 Total Unrgstrlcted funds 827,415 51,149 1182.585) 39,969 735.948 Statement of fund8 - prlor year Balance at 31 March 2023 Balance at 1 Apnl 2022 Transfers inloul Gainsl (Losses) Incnme Expenditure Unrestrlcted funds Dèsignated funds Designated Fund 51.701 {9911 50,710 General funds General Fund 805,479 47,072 154.040) 991 122,7971 776,705 Total Unrestrlcted funds 857.180 47,072 154,040) 122,7971 827,415
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds lcontinuedl The designated fund is a sinking fund set up to provide fvnds for major repairs and refvjrbishmenl of the land and buildings. 14. Analysis of net assets between funds Analysis of net assets between funds - current Period Unrestricted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments CUrnt assets Creditors due within one year 72,562 656,169 22,250 115,0331 72.562 656,169 22,250 {15,033> 735,948 735,948 Analysls of not assets between funds - prlor perlod Unrestricted fvnds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 72,562 742,245 19,665 17,0571 72,562 742,245 19,665 17,0571 827,415 827,415 15. Rglatod party transactions There have been no related party transactions during the year that require disclosure.
BUXTON coAGEs TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Indgmnty insurance The charity paid for the insurance premiums to indemnify the govemors from any loss arising from neglect or defaults of the governors and any consequent loss.