P
Trustees’ Annual Report for the period
From 01.07.2023 Period start date To 30.06.24 Period end date
Charity name: John Gainsborough Trust
Charity registration number:220156
Objectives and Activities
| SORP reference | ||
|---|---|---|
| Summary of the purposes of the charity as set out in its governing document |
Para 1.17 | The charity owns 2 almshouses in the village of Legbourne near Louth for to provide housing for old age pensioner couples who must have a connection with the villages of Legbourne or Little Cawthorpe. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. |
Para 1.17 and 1.19 |
Substantial renovations, upgrades and refurbishments have been undertaken to both properties during this financial year. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit |
Para 1.18 | The Trustees are governed by the Will of the late John Gainsborough. The Trustees confirm that they also follow the guidelines set out by the Charities Commission |
Additional information (optional)
You may choose to include further statements where relevant about:
SORP reference Not applicable Para 1.38 Policy on grant making Not applicable Para 1.38 Policy on social investment including program related investment Not applicable Para 1.38 Contribution made by volunteers
Other
Achievements and Performance
| SORP reference | ||
|---|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. |
Para 1.20 | The building works have provided significant improvements to the properties thus benefiting, Mr & Mrs Robinson and Mrs Smith, the existing beneficiaries. As well as ensuring the properties are safe and secure and ensuring the sustainability of the properties into the future. New insulation, damp proof floors, new kitchen and bathroom for No1, new heating system No1. Insulating bedrooms, new radiators, new external PVC doors on outhouses. No1. Complete upgrade of electrics both properties. £36k spent during this financial year. Works to be completed during year ending 30.06.2025. Extra works identified which will increase the cost. Sufficient investment funds available without putting the charity at Risk. Current value of Investments £358k |
Additional information (optional) You may choose to include further statements where relevant about:
Achievements against objectives set |
Para 1.41 |
|
|---|---|---|
| Performance of fundraising activities against objectives set |
Para 1.41 | Both properties are now providing an income to the Charity and with investment income is sufficient to cover normal outgoings. |
| Investment performance against objectives |
Para 1.41 | |
| Other |
Financial Review
| Review of the charity’s financial position at the end of the period |
Para 1.21 | |
|---|---|---|
| Statement explaining the policy for holding reserves stating why they are held |
Para 1.22 | Reserves are held to cover potential rebuilding costs and any upgrades required by law.eg Electrical installation. |
| Amount of reserves held | Para 1.22 | £358k |
| Reasons for holding zero reserves |
Para 1.22 | N/A |
| Details of fund materially in deficit |
Para 1.24 | N/A |
| Explanation of any uncertainties about the charity continuing as a going concern |
Para 1.23 | N/A |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|---|
| The charity’s principal sources of funds (including any fundraising) |
Para 1.47 | Weekly contribution from beneficiaries and COIF Investment income M & G Investment Income |
| Investment policy and objectives including any social investment policy adopted |
Para 1.46 | Investments are reviewed at Trustees regular meetings. Weekly contributions and investment income now cover essential outgoings as we now have a weekly contribution from both properties. |
| A description of the principal risks facing the charity |
Para 1.46 | Potential lack of Trustees to administer the Charity in the long term but no immediate risk. |
| Other | None |
Structure, Governance and Management
| Description of charity’s trusts: |
||
|---|---|---|
| Type of governing document (trust deed, royal charter) |
Para 1.25 | Will of the Late Rev. John Gainsborough |
| How is the charity constituted? (e.g unincorporated association, CIO) |
Para 1.25 | Unincorporated |
| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled |
Para 1.25 | Legbourne residents by invitation with interview by all existing Trustees. |
to appoint one or more trustees
Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction Para 1.51 and training of trustees Members of the Almshouses Association The charity’s organisational structure and any wider Para 1.51 network with which the charity works Relationship with any Para 1.51 related parties Other
Reference and Administrative details
| Charity name | John Gainsborough Trust |
|---|---|
| Other name the charity uses | |
| Registered charity number | 220156 |
| Charity’s principal address | Leylandii Station Road Legbourne Louth Lincs LN11 8LL |
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (ifany) |
|---|---|---|---|---|
| Patrick King | Trustee | Trustees of John Gainsborough Trust |
||
| John Green | Trustee | As above | ||
| Paul Bennett | Trustee | As above | ||
| Keith Hemingway | Trustee | As above | ||
– Corporate trustees names of the directors at the date the report was approved
Director name
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year
Funds held as custodian trustees on behalf of others
Description of the assets None held in this capacity Name and objects of the None charity on whose behalf the assets are held and how this falls within the custodian charity’s objects
Details of arrangements for None safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
Type of Name Address adviser
Name of chief executive or names of senior staff members (Optional information)
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Not applicable
Other optional information
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Keith Raymond Hemingway Full name(s) Patrick Anthony King Position (eg Secretary, Trustee and Chair Trustee and Secretary Chair, etc) Date 15.04.25 15.04.25
John Gainsborough Trust Accounts Year Ended 30.06.24
INCOME
| Benefciary Contribution No 2 Bede House (Rita Smith) | 1200 |
|---|---|
| Benefciary Contribution No 1 Bede House (R & P Robinson) | 120 |
| Investment Income | |
| M & G | 334.85 |
| COIF | 2187.6 |
| Other Income COIF Transfer |
50000 |
| Grout Ins Refund Contents No1 | 56.64 |
| Utilities pay't No1 per John Clarke | 20.65 |
| Total | |
| EXPENDITURE | |
| Lifeline ELDC x 2 | |
| No. 1 | 89.22 |
| No.2 | 148.72 |
| Repairs No1 Bede House | 225 |
| Repairs No2 Bede House | 25 |
| Renovations Nos. 1 & 2 Bede Houses | 31671.79 |
| New Gas Boiler No 1 Bede House | 3890 |
| Utilities No1 | 204.37 |
| Annual Gas Checks No's 1 & 2 | 168 |
| Pigsgarth Hedge and Grass Maintainance | 550 |
| Insurance | 581.91 |
| Almshouses Association | 267 |
Total
Surplus
Represented by
Bank 01.07.2023 Surplus
Bank 28.02.2024
Investment Balance as at 30.06.24
Investments CIF Accumulation Income
| Black Rock | Accumulation |
|---|---|
| M & G | Accumulation |
| Income | |
| Lloyds Bank | 28.06.24 |
Total
53919.74
37821.01
16098.73
7235.33 16098.73 23334.06
23931.28 -597.22 Unpresented cheque 354 23334.06
179034.7 81367.2
79352.88 30229.17 7797.25 23334.06 401115.3
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