2023-12-31-accounts

The Cotton Districts Convalescent Fund and The Barnes Samaritan Charity

Annual Report and Accounts for the Year Ended 31 December 2023

Registered Charity Number 224727

Contents

Legal and Administrative Details ................................................................................................ 3 Structure, Governance and Management................................................................................... 4 Trustee’s report .......................................................................................................................... 5 Statement of Financial Activities for the year ended 31 December 2023 .................................... 9 Balance Sheet as at 31 December 2023 ...................................................................................10 Notes to the accounts ...............................................................................................................11

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Legal and Administrative Details

Name:

The Cotton Districts Convalescent Fund and The Barnes Samaritan Charity

Charity Number:	224727
Registered Office:	To 30 June 2023	From 1 July 2023
	Azets Holding Limited	Beyond Profit Ltd
	5thFloor	Bolton Arena
	Ship Canal House 98 King Street Manchester M2 4WU	Arena Approach Horwich BL6 6LB
Trustees:	The Right Honourable The Earl	Ex-Officio
	of Derby
	Mrs S Birtles MBE JP DL	Chairman
	Mr PH Townley FRICS	Treasurer
	Doctor H Weinstock
	Ms J O'Connor JP	Vice Chairman
	Mrs A Weinstock CBE
	Mr P Nott	Resigned 21 April 2024
	Mrs M Lucas JP	Resigned 3 October 2023
	Doctor S Chouksey JP	Resigned 3 July 2023
	Ms A Reeves DL	appointed 15 April 2024
Secretary:	To 30 June 2023	From 1 July 2023
	Nicholas Stockton BA., FCA	Emma Willder, FCMA, CGMA,
		CG(Affiliate)
Bankers:	Royal Bank of Scotland PLC.,	CCLA Investment Management
		Limited
		COIF Charity Funds
		Senator House
		85 Queen Victoria Street
		London
		EC4V 4ET

Investment Brewin Dolphin Securities Limited Managers: 1 The Avenue Spinningfields Square Manchester M3 3AP External Auditors: Royce Peeling Green Limited The Copper Room Deva City Office Park Trinity Way Manchester M3 7BG

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.

Structure, Governance and Management

Status and Charity Number

The Cotton Districts Convalescent Fund and The Barnes Samaritan Charity is a registered charity, with the charity number 224727.

Governing Document

The Charity is regulated by a Scheme of the Charity Commissioners dated 8 April 1975, together with further Schemes dated 21 May 1998, 5 January 2001 and 2 March 2007. From 8 April 1975 the two previously separate Charities operated with common Trustees and shared administration. From 2 March 2007 the two Charities were formally recognised as one Charity. Trustees are appointed by invitation for a period of five years. They may be re-elected for further periods of five years.

Public Benefit

The objects of the charity are:

The relief of persons in need resident in the area of benefit who are sick, convalescent, disabled or infirm by relieving their suffering or assisting their recovery. The governors may relieve those eligible for assistance by: a) making grants of money to them; or b) providing or paying for goods, services or facilities for them; or c) making grants of money to other persons or bodies who provide goods, services or facilities to those eligible for assistance. In exceptional cases the governors may decide to assist someone (who must otherwise be qualified) who is: a) resident outside the area of benefit; or b) only temporarily resident in the area of benefit.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grant making policy for the period.

In fulfilling the objects of the Charity a convalescent holiday is provided to approved applicants living in the area of benefit. Account is taken of the applicants' medical condition and ability to pay. In addition, support has continued to be given to persons in need, living in the area of benefit and who are sick, convalescent, disabled or infirm.

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Trustee’s report

Achievements and Performance

Following the COVID-19 pandemic in the previous years, the Charity returned to its main focus in 2022 providing monthly financial support to individuals affected by long term medical conditions and offering grants to organisations supporting people struggling with underlying medical conditions.

The following table shows the number of beneficiaries in recent years, their cost to the Fund and their contribution to our costs.

Number of holiday beneficiaries Total cost of convalescence Contributions by beneficiaries Net cost to the Fund	2019 8 £ 2,490 240 _ 2,250	2020 2021 2 0 £ £ 798 0 0 0 _ _ 798 0	2022 0 £ 0 0 _ 0	2023 0 £ 0 0
				_ 0

_ _ _ _ _

All of the grant recipients were in receipt of £50 - £55 per month. At 31 December 2023, 6 of the recipients were male and 6 were female.

The number of beneficiaries in recent years and their cost to the Fund is as follows:

Number of grant cases at start of year Number of grant cases admitted Number of deaths Number discontinued Number of grant cases at year end Yearly amount distributed	2019 33 8 0 10 31 _ £20,751 _	2020 31 15 0 13 33 _ £72,648 _	2021 33 6 0 16 23 _ £24,760 _	2022 23 10 0 7 26 _ £25,955 _	2023 26 2 0 16 12
					_ £22,010 _

The number of beneficiaries in recent years and their cost to the Fund is as follows:

Finance Review

During the year total income of £37,070 was received (2022: £32.166) with total expenditure being £44,617 (2022: £43,243).

Investment gains in the period were £59,923 compared to a loss in 2022 of £111,504. Therefore at the end of the period total charitable funds were £1,152,621 of which £79,969 were unrestricted funds with the remaining amount being the permanent endowment.

5

Reserves Policy

The level of reserves necessary to ensure sufficient funds are available to meet normal cash flow outlays when they fall due is considered to be up to £30,000.

At the 31 December 2023, unrestricted free reserves were £79,969.

Investment Policy

The Trustees have an active policy which seeks to maximise income whilst maintaining underlying capital values.

Since the year end the Trustees have reviewed their investment policy taking advice from Brewin Dolphin. This has lead to an increase in the risk profile of the portfolio with the aim of seeking a total return of 7.2%. This policy will be reviewed regularly to ensure that it continues to meet the charity’s needs.

Risk Management

The Trustees have assessed the major risks to which the charity is exposed. See note b) on the accounting policies.

Plans for the future

The Trustees plan to continue the activities previously outlined, in the forthcoming years, subject to satisfactory funding arrangements.

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Statement of Trustees’ responsibilities in respect of the Trustees’ annual report and the financial statements

The trustees are responsible for preparing the trustees annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements

Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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 requirements of the Schemes. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees on 10 October 2024 and signed on their behalf by:

Sharman Birtles

Sharman Birtles (Oct 11, 2024 09:37 GMT+1)

Sharman Birtles Chairman

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Independent Examiners’ Report to the Trustees of The Cotton Districts Convalescent Fund and the Barnes Samaritan Charity

I report to the trustees on my examination of the accounts of the Cotton Districts Convalescent Fund and the Barnes Samaritan Charity for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust’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:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable 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.

~~…………………~~ Carolyn Dutton (Oct 18, 2024 10:05 GMT+1) ………………………… Carolyn Dutton FCA Royce Peeling Green Limited The Copper Room, Deva City Office Park, Trinity Way, Manchester, M3 7BG

……………2024 18/10/24

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Statement of Financial Activities for the year ended 31 December 2023

Unrestricted Note 2023 £ INCOME FROM: Investments 36,286 TOTAL INCOME 36,286 EXPENDITURE ON: Raising funds: Investment Management Fees - Charitable activities 2 35,986 TOTAL EXPENDITURE 35,986 Gains/(losses) on investments - NET (EXPENDITURE)/INCOME 300 Transfer between funds - NET MOVEMENT IN FUNDS 300 Fund balances brought forward 78,769 TOTAL FUNDS CARRIED FORWARD 79,069	Unrestricted Note 2023 £ INCOME FROM: Investments 36,286 TOTAL INCOME 36,286 EXPENDITURE ON: Raising funds: Investment Management Fees - Charitable activities 2 35,986 TOTAL EXPENDITURE 35,986 Gains/(losses) on investments - NET (EXPENDITURE)/INCOME 300 Transfer between funds - NET MOVEMENT IN FUNDS 300 Fund balances brought forward 78,769 TOTAL FUNDS CARRIED FORWARD 79,069	Permanent Endowment 2023 £	TOTALUnrestricted 2023 2022 £ £ 37,070 32,166 37,070 32,166 9,531 - 35,986 35,522 45,517 35,522 59,923 - 51,476 (3,356) - - 51,476 (3,356) 1,100,245 82,125 1,151,721 78,769	TOTALUnrestricted 2023 2022 £ £ 37,070 32,166 37,070 32,166 9,531 - 35,986 35,522 45,517 35,522 59,923 - 51,476 (3,356) - - 51,476 (3,356) 1,100,245 82,125 1,151,721 78,769	Permanent Endowment 2022 £ -	TOTAL 2022 £ 32,166
		784
	36,286	784		32,166	- 7,721 -	32,166
	- 35,986	9,531 -	9,531 35,986	- 35,522		7,721 35,522
	35,986	9,531	45,517	35,522	7,721	43,243
	- 300 -	59,923 51,176 -	59,923 51,476 -	- (3,356) -	(111,504) (119,225) -	(111,504) (122,581) -
	300 78,769	51,176 1,021,476	51,476 1,100,245	(3,356) 82,125	(119,225) 1,140,701	(122,581) 1,222,826
	79,069	1,072,652	1,151,721	78,769	1,021,476	1,100,245

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Balance Sheet as at 31 December 2023

Balance Sheet as at 31 December	2023	2023
Notes FIXED ASSETS Investments 3 CURRENT ASSETS Debtors Cash at bank and in hand 4 CREDITORS :amounts falling due within one year 5 NET CURRENT ASSETS NET ASSETS FUNDS Unrestricted Permanent Endowment TOTAL FUNDS	2023 2022 £ £ £ £ 1,111,896 1,020,951 10,443 48,311 35,571 36,672 46,014 84,983 (6,189) (5,689) 39,825 79,294 1,151,721 1,100,245 79,069 78,769 1,072,652 1,021,476 1,151,721 1,100,245
	46,014 (6,189)
		1,100,245
		78,769 1,021,476
		1,100,245

Approved by the trustees on 10 October 2024 and signed on their behalf by:

Sharman Birtles

Sharman Birtles (Oct 11, 2024 09:37 GMT+1) Sharman Birtles Chairman

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Notes to the accounts

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are follows:

a. Basis of Preparing Financial Statements

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 (SORP FRS102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice that is SORP FRS102.

The Cotton Districts Convalescent Fund and The Barnes Samaritan Charity 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 note.

b. Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees have made no key judgments which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c. Income recognition

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

d. Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

e. Fund accounting

Unrestricted Funds: These are available to spend on activities that further any of the purposes of charity.

Endowment funds: The permanent endowment is an 'investment' permanent endowment. It is capital which can be used to provide an income for the charity and which, other than for management fees, cannot itself be spent as income.

f. Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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g. Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

h. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

i. Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

j. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

k. Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

l. Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

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2. CHARITABLE ACTIVITIES

2023 £ Payments to beneficiaries 22,010 Secretarial and accountancy charges 11,539 Audit/ Independent fee 2,220 Trustee indemnity insurance 182 Data Protection Fee 35 TOTAL EXPENDITURE 35,986 Unrestricted funds 35,986 Endowment funds - 35,986	2023 £ Payments to beneficiaries 22,010 Secretarial and accountancy charges 11,539 Audit/ Independent fee 2,220 Trustee indemnity insurance 182 Data Protection Fee 35 TOTAL EXPENDITURE 35,986 Unrestricted funds 35,986 Endowment funds - 35,986	2022 £ 25,955 8,160 1,200 172 35 35,522
	35,986
	35,986 -	35,522 -
	35,986	35,522

The independent examination fee for the period is £900 (inclusive of VAT).

3. INVESTMENTS

	2023	2022
	£	£
Market value at 1 January	1,020,951	1,169,416
Additions to investments at cost	304,497	494,320
Disposals	(273,475)	(531,281)
Net gains/(losses) on revaluation	59,923	(111,280)
Equalisation	-	(224)
Market value at 31 December	1,111,896	1,020,951
Historical cost at 31 December	1,586,411	1,024,693

4. CASH

Cash at Bank Cash at COIF	2023 2022 £ £ 9,571 10,672 26,000 26,000 35,571 36,672

5. CREDITORS : Amounts falling due within one year

	2023	2022
	£	£
Trade creditors	620	-
Other creditors and accruals	5,569	5,689
	6,189	5,689

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6. MOVEMENT IN FUNDS

Unrestricted Funds Endowment Funds Total Funds	Balance at Incoming Resources Gain/(losses) Balance at 1 Jan 2023 Resources Expended on invesments 31 Dec 2023 £ £ £ £ £ 78,769 36,286 (35,986) - 79,069 1,121,476 784 (9,531) 59,923 1,172,652 1,200,245 37,070 (45,517) 59,923 1,251,721

ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Net current assets/(liabilities)	Unrestricted Endowment Total Funds Funds Funds £ £ £ - 1,111,896 1,111,896 79,969 60,756 140,725 79,969 1,172,652 1,252,621

Previous reporting period

Unrestricted Funds Restricted Funds Total Funds	Balance at Incoming Resources Gain/(losses) Balance at 1 Jan 2022 Resources Expended on invesments 31 Dec 2022 £ £ £ £ £ 82,125 32,166 (35,522) - 78,769 1,140,701 - (7,721) (11,504) 1,121,476
	1,222,826 32,166 (43,243) (11,504) 1,200,245

ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets Net current assets/(liabilities)	Unrestricted Funds £ - 78,769	Endowment Total Funds Funds £ £ 1,020,951 1,020,951 525 79,294 1,021,476 1,100,245
	78,769

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7. TRUSTEES' REMUNERATION AND EXPENSES, AND RELATED PARTY TRANSACTIONS

Neither the Trustees nor any persons connected with them received any remuneration or reimbursed expenses during the year (2022: Nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year

The trustees have indemnity cover.

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Annual Report for BC FYE 31 Dec 2023 final for signing v2

Final Audit Report

2024-10-18

Created: 2024-10-11 By: Emma Willder ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAAM6NggYgltQyAQQa7qc6QLY0wcFwZV9E6

"Annual Report for BC FYE 31 Dec 2023 final for signing v2" His tory

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