Charity registration number: 220718
Hanley & Gellestrope Charities
Annual Report and Financial Statements
for the Year Ended 31 March 2021
Hanley & Gellestrope Charities
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 14 |
Hanley & Gellestrope Charities
Reference and Administrative Details
Trustees Councillor Wendy Smith Councillor Ethan Radford Councillor Maria Joannou Councillor Rebecca Langton Councillor Phil Jackson Charity Registration Number 220718 Principal Office Nottingham City Homes Loxley House Station Street Nottingham Nottinghamshire NG3 3NJ Independent Examiner John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Page 1
Hanley & Gellestrope Charities
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2021.
Objectives and activities
Objects and aims
The main objects of the Charities is to provide almshouse accommodation to poor persons of good character by letting of its nine properties.
Our objectives were achieved by providing accommodation for poor persons.
Income generated from rental and also from various investments is used to maintain/upkeep the nine properties for this purpose.
Objectives, strategies and activities
Review of Activities
Activities of the charities are minimal. We are normally only needed when a housing related problem arises as our sole activity is to provide accommodation.
Service update reports are submitted to each meeting of the Trustees for information and decisions where appropriate to allow for the ongoing management of the properties and environment.
Public benefit
Providing accommodation for poor persons.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Nature of governing document
The charity is operated under the rules of its constitution adopted 6/8/1963.
Organisational structure
5 Trustees Administrative Officer (the Clerk) Financial Advisor (the Treasurer) Property management officers provided by Nottingham City Homes
Decisions are taken at meetings by the trustees, upon recommendations placed before them, in report format, by the appropriate representatives of Nottingham City Council and Nottingham City Homes.
Page 2
Hanley & Gellestrope Charities
Trustees' Report
Relationships with related parties
Nottingham City Homes
Nottingham City Homes Ltd is responsible for ensuring that the charities are administered and managed within the provisions of the scheme as set out in the attached Charity Commission document. The Trustees of the Charity are appointed by the City Council via the Executive Board for a term of four years.
Major risks and management of those risks
Building repairs
No major works carried out during this financial year only day to day repairs and servicing to maintenance properties.
Page 3
Hanley & Gellestrope Charities
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
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 proper accounting records that 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, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees 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 of the charity on 27 January 2022 and signed on its behalf by:
----- Start of picture text -----
.........................................
----- End of picture text -----
......................................... Councillor Wendy Smith Trustee
Page 4
Hanley & Gellestrope Charities
Independent Examiner's Report to the trustees of Hanley & Gellestrope Charities
Independent examiner’s report to the trustees of Hanley & Gellestrope Charities
I report to the trustees on my examination of the accounts of Hanley & Gellestrope Charities (the Charity) for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all 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 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 Charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting 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 considered as part of an independent examination.
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.
......................................
John O’Brien MSc, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
27/1/2022 Date:.............................
Page 5
Hanley & Gellestrope Charities
Statement of Financial Activities for the Year Ended 31 March 2021
| Note Income and Endowments from: Charitable activities 2 Investment income 3 Total Income Expenditure on: Charitable activities 4 Total Expenditure Gains/losses on investment assets Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted £ 39,054 1,158 40,212 (20,511) (20,511) 53,355 73,056 940,458 1,013,514 |
Total 2021 £ 39,054 1,158 40,212 (20,511) (20,511) 53,355 73,056 940,458 1,013,514 |
Total 2020 £ 39,004 880 |
|---|---|---|---|
| 39,884 | |||
| (47,396) | |||
| (47,396) | |||
| 2,476 | |||
| (5,036) 945,494 |
|||
| 940,458 |
The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
Hanley & Gellestrope Charities
(Registration number: 220718) Balance Sheet as at 31 March 2021
| Note Fixed assets Tangible assets 7 Investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors: Amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 11 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds |
2021 £ 690,000 284,514 974,514 15,900 41,696 57,596 (2,096) 55,500 1,030,014 (16,500) 1,013,514 1,013,514 1,013,514 |
2020 £ 690,000 231,159 |
|---|---|---|
| 921,159 | ||
| 10,616 37,036 |
||
| 47,652 (8,553) |
||
| 39,099 | ||
| 960,258 (19,800) |
||
| 940,458 | ||
| 940,458 | ||
| 940,458 |
The financial statements on pages 6 to 14 were approved by the trustees, and authorised for issue on .27 January 2022 and signed on their behalf by:
.........................................
Councillor Wendy Smith
Trustee
The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Hanley & Gellestrope Charities meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Income and endowments
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregates similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 8
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Asset class Land and buildings
Depreciation method and rate Shown at market value.
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 9
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
2 Income from charitable activities
| Maintenance contributions 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 39,054 Unrestricted funds General £ 1,158 |
Total 2021 £ 39,054 Total 2021 £ 1,158 |
Total 2020 £ 39,004 |
|---|---|---|---|
| Total 2020 £ 880 |
Page 10
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
4 Expenditure on charitable activities
| Subscriptions Water Insurance TV licences Housing management Independent examiners fee Ordinary repairs Cyclical repairs Loan charges Administration fee Council tax |
Unrestricted funds General £ 179 2,302 1,088 - 7,109 552 4,018 4,301 72 165 725 20,511 |
Total 2021 £ 179 2,302 1,088 - 7,109 552 4,018 4,301 72 165 725 20,511 |
Total 2020 £ 170 2,262 1,096 45 7,046 552 30,370 4,060 78 165 1,552 |
|---|---|---|---|
| 47,396 |
5 Independent examiner's fees
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
| Accounting Plus are analysed as follows: | ||
|---|---|---|
| Independent examination | 2021 £ 460 460 |
2020 £ 460 |
| 460 |
Page 11
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
6 Taxation
The charity is a registered charity and is therefore exempt from taxation.
7 Tangible fixed assets
| Cost At 1 April 2020 At 31 March 2021 Depreciation At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 8 Fixed asset investments Other investments |
Land and buildings £ 690,000 690,000 - 690,000 690,000 2021 £ 284,514 |
Total £ 690,000 690,000 - 690,000 690,000 2020 £ 231,159 |
|---|---|---|
Page 12
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
Other investments
| Other investments | ||||
|---|---|---|---|---|
| Cost or Valuation At 1 April 2020 Revaluation At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 9 Debtors Trade debtors Prepayments 10 Creditors: amounts falling due within one year Trade creditors Other creditors 11 Creditors: amounts falling due after one year Other loans |
Unlisted investments £ 231,159 53,355 |
Total £ 231,159 53,355 284,514 284,514 231,159 2020 £ 9,395 1,221 |
||
| 284,514 | ||||
| 284,514 | ||||
| 231,159 | ||||
| 2021 £ 15,900 - 15,900 2021 £ 1,544 552 2,096 2021 £ 16,500 |
||||
| 10,616 | ||||
| 2020 £ 8,001 552 |
||||
| 8,553 | ||||
| 2020 £ 19,800 |
Page 13
Hanley & Gellestrope Charities
Notes to the Financial Statements for the Year Ended 31 March 2021
12 Related party transactions
During the year the charity made the following related party transactions:
Related parties include Charity Trustees and Nottingham City Council as the organisation with responsibility for appointing or removing trustees.
Nottingham City Council transactions:-
Temporary Loan on deposit 31 March 2020 £5,500 Interest on Temporary Deposit £0.00 Property maintenance works provided by Nottingham City Homes £6,775 Nottingham City Homes - Annual Property Management Fee £7,109
(At the Meeting of Trustees 20 February 2004 it was resolved that the housing management function be transferred to Nottingham City Council.
With effect from 1 April 2005 Nottingham City Homes an arms length management organisation of Nottingham City Council became responsible for the property management function).
At the balance sheet date the amount due to/from related parties was £Nil (2020 - £Nil).
13 Repairs additional information
| 13 Repairs additional information | ||||
|---|---|---|---|---|
| Ordinary repairs Cyclical Maintenance Extraordinary repairs |
Opening balances £ (15,051) 62,527 (25,668) 21,808 |
Incoming resources £ 4,833 6,993 4,275 16,101 |
(Resources expended) £ (4,018) (4,301) - (8,319) |
Closing balances £ (14,236) 65,219 (21,393) |
| 29,590 |
14 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 14