ANNUAL REPORT
FINANCIAL YEAR 2023- 2024
JOHN WILLIAM CHAPMAN EARLESMERE
CHARITABLE TRUST
CHARITY NUMBER 223002
TRUSTEES:
Mr Mark John Hunter
Trustee/Chairman
Lady Nelll DL
Mr Michael George Gornall
Trustee
Trustee
Mr David Geoffrey Kirk
Trustee
ADVISORS:
Mrs Rosemarie Sharp
Solicitor
Brewin Dolphin
Financial Advisers
W H Prior & Co.
Accountants
Virgin Money
Bankers
Grice & Hunter
Property Advisers
NorthwoodlDoncaster } Ltd
Property Advisers
ADMINISTRATIVE OFFICES:
4 Priory Place, Doncaster, DNI IBP
JOHN WILLIAM CHAPMAN EARLESMERE TRUST
Charlty Number: 223002
Governed by a scheme made on the 17th ortober 20(KI
OBJEcrs:
The objects of the Charity are for the relief of persons resident in the Borough of Doncaster
who are in need, hardship or distress.
The Trustees may fulfil their objectives by:
a. Making grants to persons in need;
b. Providing or paying for goods, services or facilities for persons in need; and
t. Making grants of money to other persons and bodies to provide good5,
services or facilities to those in need.
ADMINisfRATION:
The Trust currently operates with four appolnted Trustees and a Chairperson is elected from
that body, full meetings of theTrustees are held quarterlyat which time the general business
and administration of the Trust is discussed. Distribution meetings which are attended by no
less than two Trustees together with the Trust Visitor are held bi-monthly to deal with
individual applications along with an additional provision for emergency appllcations.
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 until the next AGM.
CHAIRPERSONS REPORT
Financial year 2023-2024
As the year closed, we have looked back on another year of unresolved issues worldwide
and a hotchpotch of polltical uncertainty in the UK and abroad which has impacted on the
local community and reduced the ability of the Trust to meet the needs of those in need.
There can be few sectors of the community who have not been affected directly or
Indirectly by the ongoin8 economic issues caused by the hostilities between Russia and
Ukraine which imparted on fuel prices. import and export of goods and the increase in
prices associated to these and other 8lobal events. That combined with the plethora of
chan8es in the political scene led to 'a technical recession" which lasted for 6 months
bringing substantial rises in energy prices which impacted not only on business but perhaps
most significantly in relation to this Trust on the individuals in the community many of
whom had insufficient income or resource5 to meet their rapidly growing energy costs. This
was exasperated by the change5 in the system of grantin8 benefrts and many families at a
time of increased need in meeting rlslng prices and fuel bills also faced reductions in their
benefit payments. The result h35 been an increase in demand on the Trust from the
community.
The rise in demand was then compounded by a failure in the stock markets to pick up
momentum as rapidly as had been predicted. The cost of goods despite the dropping rate of
inflation in core goods towards the end of the financial remained high, which in turn had an
impact on the repairs and replacements in the property portfolio as well as the acquisition5
of the goods required to satisfy the demands of the community on the Trust.
The Trustees havethroughout been mindful of thelr ongoing obligation to try and meet the
demands made on them in terms of both safeEuarding the funds and propertywhich
generate the income from which aid is provided but also of their role in the City in meeting
the needs of individuals who largely have no other resource or mean5 of seeking assistance.
Approximately 25% of the Income comes from the investment portfolio and In response to
the 8rowlng demands on the Trust the Financial Advisors Brewin Dolphin were asked to
review the portfolio in September 2023 and having considered their advice and the risk as
Set out in the report the Trustees concluded that it was an appropriate time to try and
Increase the income flow by bring the risk factor for investment up from category 4 to
category 5 . The Financial Advisors have been Involved with the Trust for a significant
number of years and are well acquainted with its Scheme and the assets that it holds. The
Trustees were confident in the approach that Brewin Dolphin were takin8 in relation to the
Investment of funds and the potential loss risk on their behalf. Funds are invested on
behalf of the Trust on a Dlscretlonary basis and regular reports are provided to the Trustees
updatlng the posltlon in relation to the funds held.
A similar approach was taken with the rental portfolio which provldes traditlonally the
larger proportion of the Trust income. In mana8ln8 thisthe Trustees need to have regard
not only to the income achieved but also to maintaining the property in the portfolio in
good condition. Thi5 later task has not been easy this year. The demand for repairs has
continued and Set alongside this there has been a si8nificant increase in regulatory
requirements some of which stem from the Grenfell Enquiry and the Buildin8 Safety Act
2022. These have a significant impact on multl occupation properties, and the Trust hold
two such properties in its portfolio. A significant upgrade to the Chapman House which is 10
unts is required and our contractors are working with the Local Fire Officer in respect. Other
units need attention to ventilation. redecoration, new boilers etc all of which bring With
them a significant cost. The Trustees are managing this with schedules of repair and are
prioritisin8the ur8ent works. The works undertaken this year cost £41,514. The
appointment of new agents last year has proved to be a worthwhile exercise and again a
measured review hastaken place of the rent incomes received and where appropriate
increases have taken place ensuring a steady increase in the rental incomes over the year. I
am pleased to note that for most of that time there has been fully occupancy of the
properties.
Havin8 grasped the need to increase income the Trustee5 acted in a timely and appropriate
mannerto set in motion changes and reviews to facilitate some growth. Those steps were
necessary to meet the growlng number of applications. As reported in the previous year
sinte 2022 there has been a chan8e on the demographic of the Applicant5. Previously
requests for assistance held a large proportion of applicants under the age of 25 often
seekin8 clothing grants and those a little older concentrated on carpets.
While carpets remain at the top of the list on many claims there has been a significant
increase in claims for white goods, beds, bedding and clothing for children. There has also
been an increase in applications from families Wlth three plus children or those fleeing
domestic violÈnce. It has been noted that the cause cited is frequently a lack of funds due to
higher energy costs and reduced benefits
The Trustees reported last yearthatthey were overwhelmed by the demand for carpets and
were astounded by the number of cases which presented because of the Local Councils's
policy of ripping out carpets whatever the condition on a change of Tenant. There appears
to be no regard as to the waste of resources or the Inability of many incoming tenants
finding funds to replace those floor coverings. Objections to the enforcement of this policy
seems to have largely fallen on deaf ears and we understand from the Press that thls is not
the only Authorityto adopt such a wasteful policy. Because of the extraordinary demand
the Trustees elected last year to limit the supply of carpets to applicants excluding for
example hall stairs & landing carpets and prioritising those with medical conditions or very
young children, I would like to say that this step has reduced our "carpet spend" but
because of the increase in applications and continuing demand even with such limitation's
carpets remain the greatest demand on the funds.
The Trustees are very aware that they are not the only local Chartyto suffer a downturn in
the availability of funds and In the past the Trustees have endeavoured to provide grants to
other local charities with similar objectives. While the Trustees would still wish to provide
that benefit, they have as part of the current strategy, resolved that priority must be given
to individual applicants who are In need In order to fulfil the Trust objectives.
The Trustees are fortunate in that they have a strong organisational base provided by
Jordan5 Solicitors who have continued to provide an office presence throughout giving
members of the communitywho are seeking help from the Trust a polnt of contatt and
access to the administration staff and Trust vlsltor, who play an important role in our
distributlon of funds. The Trust visltor is vital in aiding the Trustees to make the right
decision when reviewing applications and ensuring the help available goes to the neediest.
Desplte the constraint5 created bythe demands on the Trust income the Trustee5 have
acted prudently. sought advice, acted to maintain and where posslble improve the position
of the Trust in relation to preserving its assets, increase the income achieved and satisfy the
needs of the community applying for assistance. Predictions at the yearend are for
redurtion in inflation which will potentially reduce costs not only of the applicants in
relation to energy and general household expense but also those of the Trust generally.
With no immediate prediction from Brewin Dolphin that the returns are likely to be greater
than the current average 4.5% return in the coming 12 months and rents having a limited
ability to increase it is the reduction of costs which would have the greatest positive impart
on the Trust and its ability to meet demand. In this period income did increase from the
previous year with a total income of £210,010.
Notwithstandlng the above dlfficulties the objects of the Trust have been fulfilled
throughout the year. A total sum of £34,749 was distributed directly in support of
Individual applicants during this year which was an increase on the individual funds
distributed in the previous year
In conclusion l and my fellow Trustees are satisfied that we have fulfilled our role in
conducting the affairs of the Trust in a dili8ent manner. The financial affairs of the Trust
have been prudently mana8ed throughout the year, ensuringthat notwithstanding the
difFiculties and challenges posed bythe domestic and world economies now and a5
anticipated in the next twelve month5, we will as a result of the strategies we have put in
place, which we believe to be robust be placed in a position to find sufficient funds to meet
the demands made on the Trust.
Mr M J Hunter
Chalrman
FINANCIAL REPORT
The Trustees of the Charfty present their annual and audited ststement for the Flnandal
Year ending 31" March 2024.
Trustees Responslblltty Statement
The Trustees of the John William Chapman Earlesmere Trust Registered Charity are required
to prepare financlal statements for each financlal year that give a true and fair view of the
state of affairs of the Charity at the end of the financial year and of movements of funds for
that period. The Trustees confirm that suitable accountancy policies have been used
throughout in accordance with the statement of recommended practice issued bythe
Charities Commission. The Trustees are responsible for keeping proper accounting records
and for takin8 responsible steps to safeguard the assets of the Charity in order to prevent
and detect fraud or other irregularities and in order to comply with the Charities Act 2011
and Charities SORP 2015, they are also responsible for safeguarding the assets of the Charity
and taking reasonable steps for the prevention and detection of fraud and other
irregularities.
RISK
The Trustees have carried out a review of the major risks to which the Charity may be
exposed and have adopted a risk strategy plan in respect of these the pollcy will be subject
to further review during the comingtwelve months.
They have explored the risks of Investlng In property and In the financlal markets . They
have adopted with professional advice a medium tolerance to the rlsk on a financial market
and are confident that the spread of investments means the Trust has a reasonable capaclty
to accommodate10ss and remain financially viable.
The Trustees are satisfied that there are no serious incidents or other matter whlch they
should have broughtto the attentlon of the Commission and has not done so alreadv.
So far as the Trustees are aware there is no relevant audit Information of which the
Independent Examiners are unaware and each of the Trustees has taken all the stepsthat
he or she ought to have taken as a Trustee In order to make himself aware of any
independent examination information and to establish that the Independent Examiners are
aware of that information.
FIXED ASSETS
Any movements in Fixed Assets are reflected in the Accounts.
EVENTS SINCE THE BALANCE SHE DATE
No events have occurred sincethe Balance date which have affected the Charity.
TRUSTEES
The Trustees of the Charity who served duringthe year and up to the date of this Report are
set out on pa8e 2 of this Report.
This Report has been prepared in accordance with the Statement Recommended Practice
Accounting and Reporting by Charities ISORP 20151
Thi5 Report was approved by the Trustees Board on the
2 1 fK day of January 2025 and signed by:
Mr Mark John Hunter Chalrman
On behalf of the Trustees of the John William Chapman Earlesmere Trnst
**J.W. CHAPMAN EARLESMERE TRUST (Registered Charity No. 223002)**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2024**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2024**
## **CONTENTS**
||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|
**Page 1**
## **J.W. CHAPMAN EARLESMERE TRUST**
**LEGAL AND ADMINISTRATIVE DETAILS**
||**31ST MARCH 2024**|
|---|---|
|**Trustees**|Mr. M.J. Hunter,MRICS|
||Lady Neill, DL.|
||Mr. M.G. Gornall|
||Mr. D.G. Kirk|
|**Correspondent & Clerk to Trustees**|Mrs. R. Sharp,LL.B.|
|**Administrative Offices**|4 Priory Place,|
||Doncaster.|
||DN1 1BP|
|**Charity Registration Number**|223002|
|**Governing Instrument**|Schemes of the Charity Commissioners made on 17thOctober 2000|
||& 27thJune 2005|
|**Solicitors**|Jordans Solicitors LLP,|
||4 Priory Place,|
||Doncaster.|
||DN1 1BP|
|**Independent Examiner**|R.A. Prior,FCCA, FCIE, DChA,|
||W. H. Prior,|
||Chartered Certified Accountants,|
||Railway Court,|
||Doncaster.|
||DN4 5FB|
|**Principal Bankers**|Clydesdale Bank plc t/a Virgin Money ,|
||19 St Sepulchre Gate,|
||Doncaster.|
||DN1 1TD|
|**Property Advisors**|Northwood (Doncaster) Ltd.,|
||17a Sandringham Road,|
||Doncaster.|
||DN2 5HU|
|**Investment Advisors**|Brewin Dolphin Ltd,|
||34 Lisbon Street,|
||Leeds.|
||LS1 4LX|
**Page 2**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE J.W. CHAPMAN EARLESMERE TRUST**
I report on the accounts of the Charity for the Year Ended 31[st] March 2024 which are set out on pages 3 to 8.
This report is made solely to the Charity’s trustees, as a body, in accordance with the regulations made under the Charities Act 2011. My work has been undertaken so that I might state to the Charity’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 of the 2011 Act ;
- 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 of the 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 from 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 my 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.I.E., DChA**
**Chartered Certified Accountant Fellow of the Association of Charity Independent Examiners**
**W. H. Prior Chartered Certified Accountants Railway Court, Doncaster. DN4 5FB**
**Dated:- 27[th] January 2025**
**Page 3**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024**
|||**_Unrestricted_**|**Total**|**Total**|
|---|---|---|---|---|
||**Note**|**_Funds_**|**2024**|**2023**|
|||**£**|**£**|**£**|
|**Income**|||||
|**Donations and legacies**|||||
|||-|-|-|
|**Investment Income**|||||
|- Interest & Dividends|**3**|48,121|48,121|40,950|
|- Rental income from Investment Properties|**3**|161,889|161,889|160,725|
|||`───────`|`────────`|`───────`|
|**_TOTAL INCOME_**||**210,010**|**210,010**|201,675|
|||`═══════`|`════════`|`═══════`|
|**Expenditure**|||||
|**Expenditure on raising funds**|||||
|– Investment Management Costs|**4**|102,712|102,712|95,298|
|**Direct Charitable Expenditure**|||||
|_–_Grants & associated support costs|**5**|124,339|124,339|132,477|
|||`───────`|`───────`|`───────`|
|**_TOTAL EXPENDITURE_**||**227,051**|**227,051**|227,775|
|||`═══════`|`═══════`|`═══════`|
|**_NET (EXPENDITURE) BEFORE_**|||||
|**_OTHER RECOGNISED GAINS/LOSSES_**||**(17,041)**|**(17,041)**|**(26,100)**|
|Realised Gains/(Losses) on investment assets||3,877|3,877|(6,851)|
|Unrealised Gains/(Losses) on investment assets||22,644|22,644|(108,227)|
|||`───────`|`───────`|`───────`|
|**_NET MOVEMENT IN FUNDS_**||**9,480**|**9,480**|**(141,178)**|
|Balances brought forward at 1stApril 2023||3,477,104|3,477,104|3,618,282|
|||`───────`|`───────`|`───────`|
|**Balances carried forward at**|||||
|**31st March 2024**|**11**|**3,486,584**|**3,486,584**|**3,477,104**|
|||`═══════`|`═══════`|`═══════`|
The notes on pages 5 to 8 form part of these financial statements
**Page 4**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **BALANCE SHEET AS AT 31ST MARCH 2024**
||||**2024**||**2023**|
|---|---|---|---|---|---|
||**Note**||**£**|**£**|£|
|**Fixed assets**||||||
|**Tangible Fixed assets-**||||||
|Investments|**8**||3,468,979||3,490,064|
|**Current assets**||||||
|Debtors|**9**|65,986||21,815||
|Cash at Bank||868||3,266||
|||`────────`||`────────`||
|||66,854||25,081||
|**Creditors**: amounts falling due||||||
|within one year|**10**|49,249||38,041||
|||`────────`||`────────`||
|**Net current assets**|||(17,605)||(12,960)|
||||**`────────`**||`────────`|
|**Net assets**|||3,486,584||3,477,104|
||||`════════`||`════════`|
|**_Represented by:_**||||||
|**Unrestricted Funds :-**||||||
|**General Fund**|**11**||3,486,584||3,477,104|
||||`────────`||`────────`|
|**Total Funds**|||3,486,584||3,477,104|
||||`════════`||`════════`|
The financial statements on pages 3 to 8 were approved by the Trustees on 27th January, 2025, and signed on their behalf by:-
**Mr. M.J. Hunter Trustee**
The notes on pages 5 to 8 form part of these financial statements
**Page 5**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **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 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 of all expenditure associated with the payments of grants to persons in need, providing or paying for goods, services or facilities for persons in need, and the making of grants to other persons and bodies to provide goods, services or facilities to those in need. Expenditure on grants is recorded once the charity has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever is the earlier. The charity has not made any grant commitments of more than one year.
## **Investments**
## _**Investment properties**_
The investment properties are shown at their fair value as at the Balance Sheet date. The majority of the investment properties were revalued as at 31[st] March 2017 by Grice & Hunter, Chartered Surveyors, Doncaster, and one investment property was revalued 5[th] November 2019 by the same firm following improvements.
## _**Listed Investments**_
Listed investments are shown at their value at the Balance Sheet date.
## **2 Taxation**
The charity is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
## **3 Investment Income Analysis**
|**Investment Income Analysis**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|**_Interest & Dividends_**|||
|Listed Investments(Dividends & Fixed Interest)|47,636|40,646|
|Bank Interest|485|304|
||`────────`|`────────`|
||48,121|40,950|
||`════════`|`════════`|
|**_Rental Income from Investment Properties_**|||
|Rent receivable|161,889|160,725|
||`────────`|`────────`|
||161,889|160,725|
||`════════`|`════════`|
**Page 6**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
**4 Expenditure on raising funds – Investment Management Costs**
|||**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||Repairs to Investment Properties|41,514|36,511|
||Gas, Electricity & Water Rates – Vacant Investment Properties|2,486|2,258|
||Council Tax & Business Rates – Vacant Investment Properties|
1,559|4,121|
||Property Insurance & Loss of Rent Insurance|9,206|7,451|
||Property Agents’ Commission & Fees|21,642|22,303|
||Fire Risk Assessment|690|-|
||Cost of EPC’s|665|403|
||Legal fees re Investment Properties|18,000|15,000|
||Investment Advisor’s Administration Fees|6,950|7,251|
|||`────────`|`────────`|
|||102,712|95,298|
|||`════════`|`════════`|
|**5**|**Direct Charitable Expenditure – Grants & Associated Support Costs**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Grants to and on behalf of individuals|34,749|
31,839|
||Grants to other Charities (Note 6)|6,000|12,000|
||Administration costs re distributions|29,564|33,233|
||Salary costs & expenses relating to Grants|8,426|8,819|
||Website|-|1,920|
||Database processing|-|1,277|
||Indemnity Insurance
|2,534|2,729|
||Sundry Expenses|
-|40|
||Legal & professional fees|37,276|35,100|
||Independent Examiner’s & Accountancy Fees|5,790|5,520|
|||`────────`|`────────`|
|||124,339|132,477|
|||`════════`|`════════`|
|**6**|**Analysis of grants to other charities**|||
|||**2024**|**2023**|
|||**£**|**£**|
||FareShare Yorkshire|6,000|12,000|
|||`────────`|`────────`|
|||6,000|20,000|
|||`════════`|`════════`|
|**7**|**Staff Costs**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Salary costs
|8,426|8,819|
|||`────────`|`────────`|
|||8,426|8,819|
|||`════════`|`════════`|
The charity engages one part-time employee on secondment. No employee earned £60,000 per annum or more.
**Page 7**
## **J.W. CHAPMAN EARLESMERE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **8 Fixed Asset Investments**
||**Freehold**|
||
|---|---|---|---|
||**Investment**|**Listed**||
||**Properties**|**Investments**|
**Total**|
|**At Market Value**|**£**|**£**|**£**|
|Market Value at 1st April 2023|2,450,000|1,040,064|3,490,064|
|Additions|-|121,066|121,066|
|Disposals at Opening Value (Note a)|-|(164,795)|(164,795)|
|Net unrealised investment gains/(losses)
|-|22,644|22,644|
||`────────`|`────────`|`────────`|
|**Market Value at 31st March 2024**|2,450,000|1,018,979|3,468,979|
||**`════════`**|**`════════`**|**`════════`**|
All investments are held primarily to provide an investment return for the charity and all are held in the UK. The investment properties were last revalued by Grice & Hunter, Chartered Surveyors, Doncaster on 31[st] March 2017 with one property being revalued by that firm on 5[th] November 2019.
|
|**Freehold**
**Investment**
**Listed**
**Properties**
**Investments**
**Note (a)**
**£**
**£**
Sale Proceeds
-
168,672
Opening M. Value
- (164,795)
Realised Gain/(Loss)
- 3,877
|
**Total**
**£**
168,672
(164,795)
3,877|
|---|---|---|
## **9 Debtors**
|**Debtors**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Rent held by Property Managing Agents|10,904|9,482|
|Funds held by Stockbrokers|51,638|9,214|
|Funds held on Solicitor’s Client Account|673|673|
|Prepayments|2,771|2,446|
||`────────`|`────────`|
||65,986|21,815|
||`════════`|`════════`|
All debtors are due within one year.
**Page 8**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
**10 Creditors – Amounts falling due within one year**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Creditors
|36,223|30,745|
|Rent received in advance|5,488|-|
|Accruals|7,538|7,296|
||`────────`|`────────`|
||49,249|38,041|
||`════════`|`════════`|
## **11 Unrestricted Funds**
||**Balance**
**Other Gains** **Balance**
**1.4.23** **Income Expenditure**
**/(Losses)** **31.3.24**
**£**
**£**
**£** **£** **£**
**Unrestricted Funds**
**General Fund**
3,477,104 210,010 (227,051)
26,521 3,486,584
`──────────────────────────────────────────────────`
**Total Unrestricted Funds**
3,477,104 210,010
(227,051)
26,521 3,486,584
`══════════════════════════════════════════════════`|
|---|---|
The General Fund represents the balance held that may be applied for charitable purposes.
**12 Trustees**
The Trustees of the charity do not receive any remuneration, and did not claim any expenses during the year (2023: Nil)
**J.W. CHAPMAN EARLESMERE TRUST (Registered Charity No. 223002)**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2024**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2024**
## **CONTENTS**
||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|
**Page 1**
## **J.W. CHAPMAN EARLESMERE TRUST**
**LEGAL AND ADMINISTRATIVE DETAILS**
||**31ST MARCH 2024**|
|---|---|
|**Trustees**|Mr. M.J. Hunter,MRICS|
||Lady Neill, DL.|
||Mr. M.G. Gornall|
||Mr. D.G. Kirk|
|**Correspondent & Clerk to Trustees**|Mrs. R. Sharp,LL.B.|
|**Administrative Offices**|4 Priory Place,|
||Doncaster.|
||DN1 1BP|
|**Charity Registration Number**|223002|
|**Governing Instrument**|Schemes of the Charity Commissioners made on 17thOctober 2000|
||& 27thJune 2005|
|**Solicitors**|Jordans Solicitors LLP,|
||4 Priory Place,|
||Doncaster.|
||DN1 1BP|
|**Independent Examiner**|R.A. Prior,FCCA, FCIE, DChA,|
||W. H. Prior,|
||Chartered Certified Accountants,|
||Railway Court,|
||Doncaster.|
||DN4 5FB|
|**Principal Bankers**|Clydesdale Bank plc t/a Virgin Money ,|
||19 St Sepulchre Gate,|
||Doncaster.|
||DN1 1TD|
|**Property Advisors**|Northwood (Doncaster) Ltd.,|
||17a Sandringham Road,|
||Doncaster.|
||DN2 5HU|
|**Investment Advisors**|Brewin Dolphin Ltd,|
||34 Lisbon Street,|
||Leeds.|
||LS1 4LX|
**Page 2**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE J.W. CHAPMAN EARLESMERE TRUST**
I report on the accounts of the Charity for the Year Ended 31[st] March 2024 which are set out on pages 3 to 8.
This report is made solely to the Charity’s trustees, as a body, in accordance with the regulations made under the Charities Act 2011. My work has been undertaken so that I might state to the Charity’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 of the 2011 Act ;
- 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 of the 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 from 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 my 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.I.E., DChA**
**Chartered Certified Accountant Fellow of the Association of Charity Independent Examiners**
**W. H. Prior Chartered Certified Accountants Railway Court, Doncaster. DN4 5FB**
**Dated:- 27[th] January 2025**
**Page 3**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024**
|||**_Unrestricted_**|**Total**|**Total**|
|---|---|---|---|---|
||**Note**|**_Funds_**|**2024**|**2023**|
|||**£**|**£**|**£**|
|**Income**|||||
|**Donations and legacies**|||||
|||-|-|-|
|**Investment Income**|||||
|- Interest & Dividends|**3**|48,121|48,121|40,950|
|- Rental income from Investment Properties|**3**|161,889|161,889|160,725|
|||`───────`|`────────`|`───────`|
|**_TOTAL INCOME_**||**210,010**|**210,010**|201,675|
|||`═══════`|`════════`|`═══════`|
|**Expenditure**|||||
|**Expenditure on raising funds**|||||
|– Investment Management Costs|**4**|102,712|102,712|95,298|
|**Direct Charitable Expenditure**|||||
|_–_Grants & associated support costs|**5**|124,339|124,339|132,477|
|||`───────`|`───────`|`───────`|
|**_TOTAL EXPENDITURE_**||**227,051**|**227,051**|227,775|
|||`═══════`|`═══════`|`═══════`|
|**_NET (EXPENDITURE) BEFORE_**|||||
|**_OTHER RECOGNISED GAINS/LOSSES_**||**(17,041)**|**(17,041)**|**(26,100)**|
|Realised Gains/(Losses) on investment assets||3,877|3,877|(6,851)|
|Unrealised Gains/(Losses) on investment assets||22,644|22,644|(108,227)|
|||`───────`|`───────`|`───────`|
|**_NET MOVEMENT IN FUNDS_**||**9,480**|**9,480**|**(141,178)**|
|Balances brought forward at 1stApril 2023||3,477,104|3,477,104|3,618,282|
|||`───────`|`───────`|`───────`|
|**Balances carried forward at**|||||
|**31st March 2024**|**11**|**3,486,584**|**3,486,584**|**3,477,104**|
|||`═══════`|`═══════`|`═══════`|
The notes on pages 5 to 8 form part of these financial statements
**Page 4**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **BALANCE SHEET AS AT 31ST MARCH 2024**
||||**2024**||**2023**|
|---|---|---|---|---|---|
||**Note**||**£**|**£**|£|
|**Fixed assets**||||||
|**Tangible Fixed assets-**||||||
|Investments|**8**||3,468,979||3,490,064|
|**Current assets**||||||
|Debtors|**9**|65,986||21,815||
|Cash at Bank||868||3,266||
|||`────────`||`────────`||
|||66,854||25,081||
|**Creditors**: amounts falling due||||||
|within one year|**10**|49,249||38,041||
|||`────────`||`────────`||
|**Net current assets**|||(17,605)||(12,960)|
||||**`────────`**||`────────`|
|**Net assets**|||3,486,584||3,477,104|
||||`════════`||`════════`|
|**_Represented by:_**||||||
|**Unrestricted Funds :-**||||||
|**General Fund**|**11**||3,486,584||3,477,104|
||||`────────`||`────────`|
|**Total Funds**|||3,486,584||3,477,104|
||||`════════`||`════════`|
The financial statements on pages 3 to 8 were approved by the Trustees on 27th January, 2025, and signed on their behalf by:-
**Mr. M.J. Hunter Trustee**
The notes on pages 5 to 8 form part of these financial statements
**Page 5**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **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 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 of all expenditure associated with the payments of grants to persons in need, providing or paying for goods, services or facilities for persons in need, and the making of grants to other persons and bodies to provide goods, services or facilities to those in need. Expenditure on grants is recorded once the charity has made an unconditional commitment to pay the grant and this is communicated to the beneficiary or the grant has been paid, whichever is the earlier. The charity has not made any grant commitments of more than one year.
## **Investments**
## _**Investment properties**_
The investment properties are shown at their fair value as at the Balance Sheet date. The majority of the investment properties were revalued as at 31[st] March 2017 by Grice & Hunter, Chartered Surveyors, Doncaster, and one investment property was revalued 5[th] November 2019 by the same firm following improvements.
## _**Listed Investments**_
Listed investments are shown at their value at the Balance Sheet date.
## **2 Taxation**
The charity is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.
## **3 Investment Income Analysis**
|**Investment Income Analysis**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|**_Interest & Dividends_**|||
|Listed Investments(Dividends & Fixed Interest)|47,636|40,646|
|Bank Interest|485|304|
||`────────`|`────────`|
||48,121|40,950|
||`════════`|`════════`|
|**_Rental Income from Investment Properties_**|||
|Rent receivable|161,889|160,725|
||`────────`|`────────`|
||161,889|160,725|
||`════════`|`════════`|
**Page 6**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
**4 Expenditure on raising funds – Investment Management Costs**
|||**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||Repairs to Investment Properties|41,514|36,511|
||Gas, Electricity & Water Rates – Vacant Investment Properties|2,486|2,258|
||Council Tax & Business Rates – Vacant Investment Properties|
1,559|4,121|
||Property Insurance & Loss of Rent Insurance|9,206|7,451|
||Property Agents’ Commission & Fees|21,642|22,303|
||Fire Risk Assessment|690|-|
||Cost of EPC’s|665|403|
||Legal fees re Investment Properties|18,000|15,000|
||Investment Advisor’s Administration Fees|6,950|7,251|
|||`────────`|`────────`|
|||102,712|95,298|
|||`════════`|`════════`|
|**5**|**Direct Charitable Expenditure – Grants & Associated Support Costs**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Grants to and on behalf of individuals|34,749|
31,839|
||Grants to other Charities (Note 6)|6,000|12,000|
||Administration costs re distributions|29,564|33,233|
||Salary costs & expenses relating to Grants|8,426|8,819|
||Website|-|1,920|
||Database processing|-|1,277|
||Indemnity Insurance
|2,534|2,729|
||Sundry Expenses|
-|40|
||Legal & professional fees|37,276|35,100|
||Independent Examiner’s & Accountancy Fees|5,790|5,520|
|||`────────`|`────────`|
|||124,339|132,477|
|||`════════`|`════════`|
|**6**|**Analysis of grants to other charities**|||
|||**2024**|**2023**|
|||**£**|**£**|
||FareShare Yorkshire|6,000|12,000|
|||`────────`|`────────`|
|||6,000|20,000|
|||`════════`|`════════`|
|**7**|**Staff Costs**|||
|||**2024**|**2023**|
|||**£**|**£**|
||Salary costs
|8,426|8,819|
|||`────────`|`────────`|
|||8,426|8,819|
|||`════════`|`════════`|
The charity engages one part-time employee on secondment. No employee earned £60,000 per annum or more.
**Page 7**
## **J.W. CHAPMAN EARLESMERE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **8 Fixed Asset Investments**
||**Freehold**|
||
|---|---|---|---|
||**Investment**|**Listed**||
||**Properties**|**Investments**|
**Total**|
|**At Market Value**|**£**|**£**|**£**|
|Market Value at 1st April 2023|2,450,000|1,040,064|3,490,064|
|Additions|-|121,066|121,066|
|Disposals at Opening Value (Note a)|-|(164,795)|(164,795)|
|Net unrealised investment gains/(losses)
|-|22,644|22,644|
||`────────`|`────────`|`────────`|
|**Market Value at 31st March 2024**|2,450,000|1,018,979|3,468,979|
||**`════════`**|**`════════`**|**`════════`**|
All investments are held primarily to provide an investment return for the charity and all are held in the UK. The investment properties were last revalued by Grice & Hunter, Chartered Surveyors, Doncaster on 31[st] March 2017 with one property being revalued by that firm on 5[th] November 2019.
|
|**Freehold**
**Investment**
**Listed**
**Properties**
**Investments**
**Note (a)**
**£**
**£**
Sale Proceeds
-
168,672
Opening M. Value
- (164,795)
Realised Gain/(Loss)
- 3,877
|
**Total**
**£**
168,672
(164,795)
3,877|
|---|---|---|
## **9 Debtors**
|**Debtors**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Rent held by Property Managing Agents|10,904|9,482|
|Funds held by Stockbrokers|51,638|9,214|
|Funds held on Solicitor’s Client Account|673|673|
|Prepayments|2,771|2,446|
||`────────`|`────────`|
||65,986|21,815|
||`════════`|`════════`|
All debtors are due within one year.
**Page 8**
## **J.W. CHAPMAN EARLESMERE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
**10 Creditors – Amounts falling due within one year**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Creditors
|36,223|30,745|
|Rent received in advance|5,488|-|
|Accruals|7,538|7,296|
||`────────`|`────────`|
||49,249|38,041|
||`════════`|`════════`|
## **11 Unrestricted Funds**
||**Balance**
**Other Gains** **Balance**
**1.4.23** **Income Expenditure**
**/(Losses)** **31.3.24**
**£**
**£**
**£** **£** **£**
**Unrestricted Funds**
**General Fund**
3,477,104 210,010 (227,051)
26,521 3,486,584
`──────────────────────────────────────────────────`
**Total Unrestricted Funds**
3,477,104 210,010
(227,051)
26,521 3,486,584
`══════════════════════════════════════════════════`|
|---|---|
The General Fund represents the balance held that may be applied for charitable purposes.
**12 Trustees**
The Trustees of the charity do not receive any remuneration, and did not claim any expenses during the year (2023: Nil)