WILLIAM NUTTALL COTTAGE HOMES ANNUAL REPORT Financial year: 1* April, 2021 31" March 2022
Registered Charity No. 222066
TRUSTEES:
Mr Mark John Hunter
Mrs Helen Clare Scott
Chairman Trustee
ADVISORS:
Mrs Rosemarie Sharp
Mrs Samantha Watton QualitySolicitors Jordans WH Prior & Co. Virgin Money Plc
Solicitor/ Clerk Clerk Solicitors Accountants Bankers
ADMINISTRATIVE OFFICES:
4 Priory Place, Doncaster, DN1 1BP
OBJECTS OF THE TRUST
In 1930 William Nuttall, a local businessman and sweet manufacturer, provided funds to construct the Cottages with the aim of providing homes for elderly spinsters in need, from the Borough ofDoncaster, known as the William Nuttall Cottage Homes for Aged Spinsters. Under the terms of a Scheme dated the 16" January 2003 the terms of the Trust were revised and the William Nuttall Cottage Homes now provide homes for ladies aged 55 years and over who are resident at the date of application in Doncaster or within a 10 mile radius who are suffering hardship or distress, or for such charitable purposes for the benefit of the residents of the homes as the Trustees shall decide. The rules and entry requirements for the residents of the homes are set down within the Scheme and the regulations for occupation ofthe cottages are set down in the Residents Handbook, a copy ofwhich is supplied to each resident upon occupation.
ADMINISTRATION
The Trust currently operates with two appointed Trustees and a chairperson elected from that body annually. The Trustees are seeking the appointment of a further Trustee to the Board. The Trustees meet periodically throughout the year and assemble for an Annual General Meeting in January.
The Trustees are elected by the members of the Charity Board with appointments and re- appointments being decided on an annual basis.
The Trustees have the power to appoint new trustees on an interim basis pending the next AGM
CHAIRMAN’S REPORT
I am pleased to be able to report once again as we close business at the year end of March 2022 that the Trust has once again faired well this year in terms of occupancy. Issues relating to damp and blocked drains still appear to be an ongoing problem and are still a cause for concern for many of the cottages. Throughout April May June and July 2021 the Trust received a number of reports from residents as to damp in their cottages. Our usual contractors have worked endlessly to resolve the damp issues as they arise and residents have been satisfied with the completed works.
Bancrofts & Sons still continue to manage the trees and surrounding gardens and I am pleased to report that they have been kept in good order throughout the year. Once again there have been a number of complaints by residents ofboth the Nuttall cottages and local residents who live to the rear of the cottages and grounds regarding overhanging trees and the impact they have on their own properties and outbuildings.
We welcome a new resident in number 104 having benefited froma full and extensive renovation in September 2021. The programme of cottage renovation has meant that we have been able to recover realistic maintenance fees in respect of the residents’ use of the cottages. Those funds are now building so that we are potentially able finally to start considering larger projects of renovation in the next year, priority to damp and roofing problems but consideration is now also being given to new front doors. The installation ofnew doors would no doubt havea positive impact on resident’s wellbeing and improvement ofthe standard ofliving. New doors would also dramatically improve the general appearance ofthe cottages.
In summary, I and my fellow Trustees feel that we have continued to make progress this year and have maintained the cottages despite the obstacles thrown in our path. During a very difficult year, filled with uncertainty, we have maintained the cottages and for this we must thank our regular contractors who have despite lockdowns, made themselves available for urgent works. The cottages are in good order and we believe that we are providing a satisfactory standard ofaccommodation to our current residents.
FINANCIAL REPORT
The Trustees of the Charity present their annual accounts and financial statement for the year ended 31 March 2022.
The Trustees acknowledge their requirement to provide for the upkeep and maintenance of the cottages and funds have been set aside for this purpose derived from the maintenance payments made by the Ladies
TRUSTEES’ RESPONSIBILITY STATEMENT
The Trustees of the William Nuttall Cottage Homes registered Charity are required to prepare financial statements for each financial year that gives a true and fair view of the state ofaffairs ofthe Charity at the end ofthe financial year and ofmovements offunds for that period. The Trustees confirm that suitable accountancy policies have been used throughout in accordance with the statement of recommended practice issued by the Charities Commission. The Trustees are responsible for keeping proper accounting
records and for taking reasonable steps to safeguard the assets of the Charity in order
to prevent and detect fraud or other irregularities.
RISK
The Trustees have carried out a review of the major risks to which the charity may be exposed and have adopteda risk strategy plan in respect of these. The policy will be subject to further review during the coming twelve months
The Trustees are satisfied that there are no serious incidents or other matters which they should have brought to the attention of the Commission and had not done so already. So far as the Trustees are aware there is no relevant audit information of which the Independent Examiners are unaware and each Trustee has taken all the steps that he or she ought to have taken as a Trustee in order to make himself or herself aware of any Independent examination information and to establish that the Independent Examiners are aware of that information.
FIXED ASSETS
Any movement in Fixed Assets is reflected in the Accounts
STATEMENT OF INVESTMENT POLICY
The Trustees are aware of their obligation to consider and provide a Statement of
Investment Policy which has been compiled and submitted to the Trustees for their
approval.
EVENTS SINCE THE BALANCE SHEET DATE
No events have occurred since the Balance Sheet date which affect the Charity
TRUSTEES
The Trustees of the Charity who served during the year and up to the date ofthis Report
are set out on Page 1 of this Report
This Report has been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities (SORP 2015)
This Report was approved by the Trustee Board onthe qtu
Day of Sreuney 20212
and signed by:: MyNiyHsMV EE ecnnans anoauaeae taal On behalf of the Trustees of the William Nuttall Cottage Homes
THE WILLIAM NUTTALL COTTAGE HOMES (Registered Charity 222066)
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
THE WILLIAM NUTTALL COTTAGE HOMES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022
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CONTENTS
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Page
Legal and Administrative Details 1
Independent Examiner’s Report 2
Statement of Financial Activities 3
Balance Sheet 4
Notes to the Financial Statements 5 - 8
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Page 2
THE WILLIAM NUTTALL COTTAGE HOMES INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE WILLIAM NUTTALL COTTAGE HOMES
Treport on the accounts of the Charity for the Year Ended 31 March 2022 which are set out on pages 3 to 8. This report is made solely to the Charity’s trustees, as a body, in accardance with the regulations made under the Charities Act 2011. My work has been undertaken so that I might state to the Chatity’s trustees those matters I am required to state to them in an Independent Examiner's report and for no other Purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity’s trustees as a body for this report. Respective responsibilities of Trustees and Examiner As the Charity’s Trustees, you are responsible for the preparation of the accounts; you consider that the audit requirement of Section 144(2) of the Charities Act 2011 (the 2011 Act) does not apply.
It is my responsibility
-
¢ examine the accounts under section 145 ofthe 2011 Act q ® — to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act; and
-
- to state whether particular matters have come to my attention,
Basis of Independent Examiner’s Report My examination was carried out in accordance with the General Directions given by the Charity Commissioners, An examination includes a review ofthe accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations ftom you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to Tay attention:-
(a) Which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
have not been met; or
(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
R.A. Prior, F.C.C.A., F.C.LE., DChA
Chartered Certified Acconntant Fellow of the Association of Charity Independent Examiners
W. H. Prior Chartered Certified Accountants Railway Court, Doncaster. DN4 SFB
Dated:- 30% January 2023
Page 1
THE WILLIAM NUTTALL COTTAGE HOMES
LEGAL AND ADMINISTRATIVE DETAILS
Trustees Mr. M.J. Hunter, MRICS Mrs. H.C. Scott
Correspondent & Clerk to Trustees Mrs. R. Sharp, LL.B.
Administrative Offices
4 Priory Place, Doncaster. DN1 1BP
Charity Registration Number
222066
Governing Instrument
Scheme ofthe Charity Commissioners made on 16" January 2003
Solicitors Jordans Solicitors LLP, 4 Priory Place, Doncaster. DN1 1BP
Independent Examiner RA. Prior, FCCA, FCIE, DChA W. H. Prior Chartered Certified Accountants, Railway Court, Doncaster. DN4 5FB
Principal Bankers
Clydesdale Bank ple t/a Virgin Money, 19 St. Sepulchre Gate, Doncaster.
DN1 1TD
Page 3
THE WILLIAMNUTTALL COTTAGE HOMES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2022
| Income and endowments | Note | Unrestricted Funds £ |
Endowment Funds £ |
Total 2022 £ |
2021 £ |
|---|---|---|---|---|---|
| Donationsandlegacies | |||||
| Donations&Grants Charitable activities |
= | a | - | 3 | |
| IncomefromResidents InvestmentIncome |
3 4 |
104,913 1,555 |
- - |
104,913 1,555 |
104,914 1,252 |
| TOTALINCOME | 106,468 rn |
- SSS |
106,468 ——* |
106,189 = |
|
| Expenditure | |||||
| DirectCharitableExpenditure | |||||
| Provisionofaccommodation | 5 | 60,092 | 50 | 60,142 | 78,283 |
| TOTALEXPENDITURE | 60,092 ————S——_ |
50 ——————————— |
60,142 =SSS==. |
78,283 —————_ |
|
| NETINCOMEBEFORE | |||||
| OTHERRECOGNISEDGAINS(LOSSES) | 46,376 | (50) | 46,326 | 27,906 | |
| OTHERRECOGNISEDGAINS{LOSSES) | |||||
| Gains/(Losses)oninvestmentassets | - | 2537 | 2,537 | 8,758 | |
| NETMOVEMENT INFUNDS |
46,376 | 2,487 | 48,863 | 36,6646 | |
| Balances brought forwardat | |||||
| istApril2021 | 229,908 | 106,439 | 336,347 | 299,683 | |
| Balancescarriedforward at | |||||
| 31stMarch2022 | 276,284 | 108,926 | 385,210 | 336,347 |
The notes on pages 5 to 8 form part of these financial statements
Page 4
THE WILLIAM NUTTALL COTTAGE HOMES BALANCE SHEET AS AT 31ST MARCH 2022
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Note 2022z £ 2021£
Fixed assets
Tangible Fixed assets 8 32,929 32,979
Investments 9 35,997 33,460
68,926 66,439
Current assets
Debtors 10 $75 1,123
Bank Accounts 318,455 280,656
319,030 281,779
Liabilities : amounts falling due
within one year 11 2,746 11,871
Net current assets 316,284 269,908
Net assets 385,210 336,347
Representedby:
Endowment Fund 12 40,000 40,000
Endowment Fund 12 68,926 66,439
General Fund 276,284 229,908
Total Funds 385,210 336,347
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The financial statements on pages 3 to 8 were approved by the Trustees 30° January, 2023 and signed on their behalf by:-
Mr.Trustee M.J. Hunter pallldltarn So ol. 2923.
The notes on pages 5 to 8 form part of these financial statements
Page 5
THE WILLIAM NUTTALL COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
1 Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost accounting convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the these accounts. The financial statements have been prepared in accordance with applicable accounting standards, the Charities SORP (FRS102) and the Charities Act 2011.
Income
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, All income is treated as unrestricted income, unless the donor has placed restrictions on the manner in which the donation or grant may be spent, in which case it is treated as restricted income. Investment income is recorded when receivable.
Direct Charitable Expenditure
Direct charitable expenditure consists ofall expenditure associated with the provision ofhousing accommodation for women aged over 45 years, resident in the area of benefit (Doncaster and all that arca within a 10 mile radius) who are in need, hardship or distress, or such charitable purposes for the benefit of the residents as the trustees decide.
Fixed Assets — Depreciation and diminution in value of assets.
Tangible fixed assets other than property are stated at cost less depreciation.
Depreciation is provided at rates calculated to write offthe cost of fixed assets ona reducing balance basis over their expected useful lives.
The principal annual rates used for this purpose are:-
Freehold buildings nil Fixtures & fittings 15%
Investments
Listed investments have been valued at their fair value at the Balance Sheet date. The fair value of quoted securities is based on the middle market quotation on the relevant Stock Exchange.
2 Taxation
The charity is registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
3 Income from Residents
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2022 2021
£ £
Contributions from residents towards maintenance & services 104,913 104,914
104,913 104,914
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Page 6
THE WILLIAM NUTTALL COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
| 4 | InvestmentIncomeAnalysis | ||
|---|---|---|---|
| 2022 | 2021 | ||
| Interest & Dividends DividendsfromListedInvestments |
£ 1,400 |
£ 1,137 |
|
| BankInterest&Building Society Interest | 155 | 115 | |
| 1,555 | 1,252 | ||
| 5 | Charitable Activities—ProvisionofAccommodation& Services | ||
| 2022 | 2021 | ||
| 2 | £ | ||
| CouncilTax—Emptyproperties | 396 | 1,229 | |
| Light&Heat-Communal supply&Empty properties | 880 | 1,369 | |
| Insurance Gardenmaintenance (incl.treeschemes) |
2,243 2,750 |
2,179 3,860 |
|
| Propertyrepairs | 19,980 | 33,472 | |
| Depreciation : |
50 | 59 | |
| Administration fees relatingtoprovisionofaccommodation etc, | 21,840 | 23,520 | |
| Legal fees governance | 9,360 | 10,080 | |
| IndependentExaminer’s fees | 2,334 | 2,220 | |
| Subscriptions | 309 | 295 | |
| 60,142 | 78,283 |
6 Related Party Transactions & Trustees’ remuneration
No remuneration was paid to the trustees in the year, nor were any expenses reimbursed.
7 Staff Costs
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2022 2021
£ £
Salary costs - -
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The charity does not have any employees; no employee earned £60,000 per annum or more.
Page 7
THE WILLIAM NUTTALL COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
| 8 | TangibleFixedAssets | |||
|---|---|---|---|---|
| Freehold | ||||
| Land& | Fixtures | |||
| CostorValuation | Buildings £ |
&Fittings £ |
Total £ |
|
| istApril2021 | 32,643 | 4,518 | 37,161 | |
| 31stMarch2022 | 32,643 | 4,518 | 37,161 | |
| Depreciation | ||||
| istApril2021 ChargefortheYear |
- - |
4,,182 50 |
4,182 50 |
|
| 31stMarch2022 | - | 4,232 | 4,232 | |
| Netbook values | ||||
| 31stMarch2022 | 32,643 | 286 | 32,929 | |
| 31stMarch2021 | 32,643 | 336 | 32,979 | |
| Allfixedassetsareusedinrelationtodirect charitable activities. | ||||
| 9 | FixedAssetInvestment | |||
| AtMarketValue | 2022 £ |
2021 £ |
||
| MarketValueat 1stApril2021 Netunrealised investmentgains/(losses) |
33,460 2,537 |
24,702 8,758 |
||
| MarketValueat31°*March2022 | 35,997 | 33,460 | ||
| et | —_—__! |
9 Fixed Asset Investment
Al] investments are held primarily to provide an investment retum for the charity and all are held in the UK. The following investments form a material proportion ofthe portfolio:-
| £ | ||
|---|---|---|
| JPMorganUKStrategicEquityIncome Fund M&GCharifund |
20.200 15,797 |
(56.00%) (44.00%) |
| 35,997 |
Page 8
THE WILLIAM NUTTALL COTTAGE HOMES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2022
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|||||||
|---|---|---|---|---|---|
|10|Debtors|
|2022|2021|
|£|£|
|Other Debtors|-|564|
|Solicitor's Client Account|18|18|
|Prepayments|557|541|
|575|1,123|
|SE|EEE|
|All debtors are due within one year.|
|11|Creditors|— Amounts|falling|due within one|year|
|2022|2021|
|£|£|
|Trade|creditors|412|1,251|
|Accruals|2,334|10,620|
|2,746|11,871|
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12“ Unrestricted Funds
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|||||||||
|---|---|---|---|---|---|---|---|
|Balance|Gains/(Losses)|Balance|
|1.4.21|Income|Expenditure|&Transfers|31.3.22|
|£|£|£|£|£|
|Endowment Fund|40,000|-|-|-|40,000|
|Endowment Fund|66,439|-|(50)|2,537|68,926|
|General Fund|229,908|106,468|(60,092)|-|276,284|
|Total|Unrestricted Funds|336,347|‘106,468|(60,142)|2,537|=|385,210|
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- Analysis of Net Assets between Funds
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||||||
|---|---|---|---|---|
|Net|2022|2021|
|Fixed|Current|TOTAL|TOTAL|
|Assets|Assets|
|£|£|£|£|
|Unrestricted Funds|
|Endowment Fund|7|40,000|40,000|40,000|
|Endowment Fund|68,926|-|68,926|66,439|
|General Fund|-|276,284|276,284|229,908|
|.|
|68,926|316,284|385,210|336,347|
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