BUThERFIELD HOMES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 R•giJt•rgd number: 220769
BUTTERFIELD HOMES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner’s report | 3 |
| Statement of assets and liabilities | 4 |
| Receipts and payments account | 5 |
| Notes to the accounts | 6 |
BUTTERFIELD HOMES
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Charity Number : 220769
| Trustees: | A Edwick |
|---|---|
| E L Hawksworth | |
| G E France | |
| R Nicholas | |
| R S Watson | |
| D Jasper | |
| Principal Office: | Butler House |
| 39 Church Hill | |
| Baildon | |
| Shipley | |
| BD17 6PG | |
| Bankers: | Lloyds Bank |
| 45 Hustlergate | |
| Bradford | |
| BD1 1NT | |
| Independent Examiner: | L R Brain FCA |
| Brosnans Chartered Accountants | |
| Birkby House | |
| Birkby Lane | |
| Brighouse | |
| West Yorkshire | |
| HD6 4JJ |
Objectives and activities
To provide homes for aged poor persons who are either a married couple or two sisters, and who are resident in the former township of Baildon or the vicinity thereof at the time of appointment.
Public benefit
The trustees have complied with their duty under section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission when performing their role and duties.
Governance
The existing trustees are responsible for recruiting and training new trustees as and when required.
The governing document of the charity is its trust deed dated 19 December 1974, and as last amended 11 October 2004.
1
BUTTERFIELD HOMES
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
Activities
The charity has continued to maintain the properties to a high standard, and the elderly residents have been able to enjoy peaceful occupation.
Review of the year
Income for the year amounted to £29,892 (2021: £29,102) before share sales. Expenditure before share purchases totalled £25,689 (2021: £34,585) leaving a cash deficit for the year of £597 (2021: £83).
The statement of assets and liabilities now shows net assets of £525,970 (2021: £525,328).
Investment policy
The charity’s funds are held partly in the bank and partly in charity investment funds managed by CCLA and M&G Investments.
Reserves policy
The trustees consider that the present level of reserves is required to enable the charity to maintain the properties to a high standard.
Approved on behalf of the trustees on 27 October 2023 by
A Edwick
Trustee
D Jasper Trustee
2
BUTTERFIELD HOMES
INDEPENDENT EXAMINERS REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
I report to the trustees on my examination of the accounts of Butterfield Homes (the Charity) for the year ended 31 December 2022.
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 material 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 2. the accounts do not accord with those records.
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.
L R Brain FCA
Brosnans Chartered Accountants Birkby House Birkby Lane Brighouse West Yorkshire HD6 4JJ
Dated: 27 October 2023
3
BUTTERFIELD HOMES
STATEMENT OF ASSETS AND LIABILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
| Note | 2022 | 2022 | 2021 | 2021 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Cash at bank | 3,039 | 3,636 | |||
| Assets | |||||
| Freehold property - value per professional valuation | 2 | 480,000 | 480,000 | ||
| COIF CCLA Charities Investment Fund | 1 | 39,992 | 38,835 | ||
| The National Association of Almshouses CIF Accumulation shares - M&G |
1 | 2,940 | 2,857 | ||
| 522,931 | 521,692 | ||||
| Total assets | 525,970 | 525,328 | |||
| Represented by:- | |||||
| General fund:- | |||||
| Brought forward | 43,828 | 42,358 | |||
| Transfer from endowment | - | 568 | |||
| Cash movement (see page 5) | (597) | (83) | |||
| Dividends received and reinvested | 108 | 129 | |||
| Additional investments purchased | 4,800 | 4,800 | |||
| Investment sale proceeds | - | (10,200) | |||
| Increase/(decrease) in value of investments | (3,669) | 6,256 | |||
| Endowment fund | 44,470 1,500 |
43,828 1,500 |
|||
| Property fund | |||||
| Surplus on revaluation | 480,000 | 480,000 | |||
| Total assets less liabilities | 525,970 | 525,328 |
Approved on behalf of the trustees on 27 October 2023
A Edwick Trustee
D Jasper Trustee
4
BUTTERFIELD HOMES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Receipts Income from residents:- Resident contributions Gross income Investment sales proceeds Total receipts Payments Wages - secretary Insurance Repairs and renewals Garden maintenance Accountancy, legal and professional fees Bank charges and interest Sundry expenses Charitable donations Subscriptions Gross expenditure Purchase of investments Total payments Net cash receipts Cash funds brought forward Cash funds carried forward |
2022 £ 29,892 29,892 - 29,892 3,304 2,860 16,838 2,327 90 - 70 200 25,689 4,800 30,489 (597) 3,636 3,039 |
2021 £ 29,102 29,102 10,200 39,302 3,704 1,276 22,480 340 6,300 21 - 100 364 34,585 4,800 39,385 (83) 3,719 3,636 |
|---|---|---|
5
BUTTERFIELD HOMES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 Investments
| Valuation brought forward Additional investments purchased Investments sold Increase/(decrease) in value |
CCLA Investment Management M&G NAA CIF Total £ £ £ 38,835 2,857 41,692 4,800 108 4,908 - - - (3,643) (26) (3,669) 39,992 2,940 42,931 |
|---|---|
2 Freehold Property
At 19 November 2008, the Butterfield Homes properties at The Grove, Baildon were valued by Mr Clinton D Fitzpatrick FRICS of Fitzpatrick Commercial Valuers of Bradford. The open market value at that time was assessed at £480,000. The trustees consider this value to still be appropriate.
3 Accounting Policies
The accounts of the trust are prepared on a receipts and payments basis. Both the current and previous accounting periods covered twelve months.
4 Trustees Remuneration & Related Party Transactions
Wages of £3,304 (2021: £3,704) were paid in the year to Ms C Smith for secretarial and management services. Ms C Smith was a trustee of the charity until 22 July 2020, and is the granddaughter of A Edwick (trustee).
6