2022-03-31-accounts

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 2022

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 £40,006 (2021: surplus of £17,707) on the General Fund account was achieved in the year. The market value of investments increased over the 12 months by £39,081 (2021: increase of £89,418). These movements resulted in the balance on the General Fund of £587,096 at 31 March 2021 increasing to £666,183 at 31 March 2022.

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.

The Trustees are considering the future of the Trust following the reversion of the leasehold properties to Bournville Village Trust over the next 2 years.

We are grateful to Keith Barnes for agreeing to act as Independent Examiner.

Michael W Sturge Chair

19 July 2022

STURGE FLATS CHARITABLE TRUST

(Registered Charity Number 219780)

Notes to the Accounts for the year ended 31 March 2022

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 At 31 March 2021 and 31 March 2022 Analysed as follows: Freehold Property Leasehold Property 3 Investments Market Value at 1 April Increase in Market Value during year Market Value at 31 March	£ 35,059 22,086 12,973 35,059 2022 2021 £ £ 500,907 411,489 39,081 89,418	£ 35,059
		22,086 12,973
		35,059
	539,988 500,907

Investments consist of 19,422 Units (2021 19,422 Units) Charifund Income Units and 78,693 Units (2021 45,035) COIF Charities Ethical Investment Fund Income Units.

4 Net Current Assets CAF Deposit and CAF Cash COIF Deposit Due from/(to) Bournville Village Trust Rent due Rent paid in advance Less: Current Liabilities	2022 2021 £ £ 80,986 54,959 248 247 10,537 (2,834) 216 - (662) (832) (189) (410)
	91,136 51,130

3

5 Rents Gross Rents Receivable Less: Voids 6 Support Costs Repairs and Renewals Major Repairs Gardening Insurance Others 7 Management Costs Bournville Village Trust	2021/22 2020/21 £ £ 34,991 32,535 - (839)
	34,991 31,696
	6,680 9,210 - 14,958 2,856 2,740 999 994 668 605
	11,203 28,507
	5,001 5,038

4

sruRGE FLATS CHARrrABLE TRUS[ Re8iStered Charity Number 219780 REPORT OF THE INDEPENL￿Mr EWalNER FOR THE YEAR ENDED 31- MARCH 2022 I report to the charty trustees on the accounts of the Chanty for the year ended 31" March 2022. Re5pecilve ie5ponslbllhles of trustees and examlne As the ¢harWs trustees you are resp￿SIble for the preparation of ￿COUnts in accordance wlth the requirements of the Charities Act 2011 (the 2011 Art). I report in respect of my wamination of the Tru5Vs accounts carrled out under sectlon 145 of the 2011 Act, and in carrying out my examination, I havefollowed the applicable dirertions given by the Charity Comrnission under section 145{5)(bl of the Act. Independent Ex•nlnerfs Statemffit I have completed nry examination. I confim that material matters have come to my attention in connertion with the exarninat￿n givi￿ me cause to bel￿ that". The accountinq records were not kept in accordance with section 130 ofthe Charities Act. or The accounts dld not accord wlth the a¢coutrtln8 records; or The accounts did not comth with the applicable requirements conceming the form and content of actounts set out in the Charities (Accounts and Rewrtsl Regulations 2CQ8 other than any requirernent that the accounts 85ve a 'true and fairf view which is not a matter considered as part of an Independent eyamination" or the actounts hove not been prepared in accordance with the methods and prlndples of the ststement of Recomrnended Practice for accounting and rep(Kting by charities {FR5102). I have no concerns and have wrne acfOSS no other matters In connection wlth the examination to whkh attention should be drnwn in thi5 report in order to enable a proper understanding of the accounts to be reached. Keith Barn , FCMA 2 Beeforth Close New Earswick York Y032 4DF its 2L