STURGE FLATS CHARITABLE TRUST
Trustees Alison R Ironside Michael W Sturge (Chair) Anne Ullathorne
Managing Agents Bournville Village Trust
Bankers Charities Aid Foundation
Charity Commission Reference No 219780
Trustees’ Report for the year ended 31 March 2021
The Trustees have continued the management of five properties - providing 11 tenancies - in the Selly Oak/Bournville district of Birmingham. In accordance with the Deed of Trust of 30 July 1949, the Trustees give priority in the allocation of tenancies to older people, with a preference to those associated with the Religious Society of Friends.
A surplus of £17,707 (2020: surplus of £34,711) on the General Fund account was achieved in the year. The market value of investments increased over the 12 months by £89,418 (2020: decrease of £81,204). These movements resulted in the balance on the General Fund of £479,971 at 31 March 2020 increasing to £587,096 at 31 March 2021.
All the properties meet the Government’s Decent Homes Standard (unless a resident requested for the work to be deferred).
The Trustees review the principal risks affecting the Trust on an annual basis.
We are grateful to Keith Barnes for agreeing to act as Independent Examiner.
Michael W Sturge Chair
6 July 2021
STURGE FLATS CHARITABLE TRUST
(Registered Charity Number 219780)
Notes to the Accounts for the year ended 31 March 2021
1 Basis of preparation
The accounts have been prepared on the basis of historic cost in accordance with Accounting and Reporting by Charities - Statement of Recommended Practice, applicable accounting standards, and with the Companies Act 2006. The charity has taken advantage of the exemption in Financial Reporting Standard No. 1 from the requirement to produce a cash flow statment on the grounds that it is a small charity.
Housing Land and Buildings
Those properties which were gifted to the Trust are stated at nil cost. Other properties are stated at the cost of acquisition.
2 Housing Land and Buildings
| 2 Housing Land and Buildings At 31 March 2020 and 31 March 2021 Analysed as follows: Freehold Property Leasehold Property 3 Investments Market Value at 1 April Additions at cost Increase/(Decrease) in Market Value during year Market Value at 31 March |
2021 £ 411,489 - 89,418 |
£ 35,059 |
| 22,086 12,973 |
||
| 35,059 | ||
| 2020 £ 404,693 88,000 (81,204) |
||
| 500,907 | 411,489 |
Investments consist of 19,422 Units (2020 19,422 Units) Charifund Income Units and 78,693 Units (2020 45,035) COIF Charities Ethical Investment Fund Income Units.
| Net Current Assets CAF Deposit and CAF Cash COIF Deposit Due from/(to) Bournville Village Trust Rent paid in advance Less: Current Liabilities |
2021 2020 £ £ 54,959 30,571 247 242 (2,834) 6,528 (832) (823) (410) (3,095) |
|---|---|
| 51,130 33,423 |
4 Net Current Assets
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| 5 Rents Gross Rents Receivable Less: Voids 6 Support Costs Repairs and Renewals Major Repairs Gardening Insurance Others 7 Management Costs Bournville Village Trust |
2020/21 2019/20 £ £ 32,535 31,170 (839) - |
|---|---|
| 31,696 31,170 |
|
| 9,210 7,702 14,958 - 2,740 2,557 994 863 605 542 |
|
| 28,507 11,664 |
|
| 5,038 4,965 |
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STURGE FLATS CHARITABLE TRUST
Registered Charity Number 219780
REPORT OF THE INDEPENDENT EXAMINER FOR THE YEAR ENDED 31[ST] MARCH 2021
I report to the charity trustees on the accounts of the Charity for the year ended 31[st] March 2021.
Respective responsibilities of trustees and examiner
As the charity’s trustees you are responsible for the preparation of accounts in accordance with the requirements of the Charities Act 2011 (the 2011 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 giving me cause to believe that:
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The accounting records were not kept in accordance with section 130 of the Charities Act; or
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The accounts did not accord with the accounting records; or
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The accounts did 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
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considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (FRS102).
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.
Keith Barnes, FCMA 2 Beeforth Close New Earswick York YO32 4DF
1 October 2021
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