REGISTERED CHARITY NUMBER: 232832 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 FOR MTLTON BRYAN CHARITY Graham Hunt & Co Chartered Accountants Unit 15 Hockliffe Business Park Watling Street Hockliffe Bedfordshire LU7 9NB
MtLTON BRYAN CHARrrY CONTEKfs OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021 Page Report of the Trustees Independent Examiner's Report Ststement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities 10
MTLTON BRYAN CHARITY REPORT OF THE TRUSTEES for the Year Ended 31 December 2021 The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 232832 Principal address Lyndhurst Watling Street Hockliffe Leighton Buzzard Bedfordshire LU7 9LJ Trustees Mrs B M WIckens Trustee J Hinton R Friend S Harris Mrs C Francis T P Mccann Independent Examiner Graham Hunt & Co Chartered Accountants Unit 15 Hockliffe Business Park Watling Street Hockliffe Bedfordshire LU7 9NB dbyord rof the d of trustees on 10 October 2022 and signed on its behalf by: RFrie - Truste Page I
INDEPENDF.NT F.XAMINER'S REPORT TO THE TRUSTFFS OF MTLTON BRYAN CHARITY Independent examiner's report to the trustees of Milton Bryan Charity I rcport to the charity trustces on my examination of thc accounts of Milton Bryan Charity (the Trust) for the year endcd 31 December 2021. Responsibllities 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 Act and in carrying out my examination I have followed all 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 confirn] that no material matters have come to my attention in connection with the exainination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust 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 applicable requirements concerning the forn] 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. Graham Hunt Graham Hunt & Co Chartered Accountants Unit 15 Hockliffe Business Park Watling Street Hockliffe Bedfordshire LU7 9NB 20 October 2022 Page 2
MtLTON BRYAN CHARITY STATEMENT OF FTNANCIAL ACTTVITTES for the Year Ended 31 December 2021 31.12.21 Unrestrictcd funds 31.12.20 Total funds INCOME AND ENDOWMENTS FROM Charitable activitles Rents receivable Notes 72,816 70,927 Other income 1,247 2,592 Total 74,063 73,519 EXPENDITURE ON Charitable activities Propety expenditure Charitable Grants '.41,116 4,700 32,944 4,442 Other 1,149 924 Total 46,965 38,310 NET INCOME 27,098 35,209 RECONCILIATION OF FUNDS Total funds brought forward 301,079 265,870 TOTAL FUNDS CARRIED FORWARD 328,177 301,079 The notes forn] part of these financial statements -Page 3
MII.TON BRYAN CHARITY BAT.ANCE,SHF.ET 31 Deccinber 2021 31.12.21 Unrestricted funds 31.12.20 Total funds Notes CURRENT ASSETS Dcbtors Cash at bank and in hand 250 330,237 250 303,139 330,487 303,389 CREDITORS Amounts falling due within one year (2,310) (2,310) NET CURRENT ASSETS 328,177 301,079 TOTAL ASSETS LESS CURRENT LIABILITIES 328,177 301.079 NET ASSETS 328,177 301,079 FUNDS Unrestricted funds 328,177 301,079 TOTAL FUNDS 328,177 301.079 The si ancial edonits statemen ehalf by: ere approved by the Board of Trustees and authorised for issue on 10 October 2022 and were RFri nd - Trustee e notes forni part o thcse financial statenients Page 4
MILTON BRYAN CHARITY NOTFS TO THE FINANCIAL STATFMENTS for the Year Ended 31 December 2021 ACCOUNTING POLICIES Basis of preparlng the financial statements The financial statements of the charity, which is a public benefit cntity Iindcr FRS 102, have bcen prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: SLitcmcnt of Recommended Practice applicable to charities preparing their accoiints in accordance with thc Financial Rcporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Rcporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Treland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recolISed in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. EXpendItte is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. Page 5 continued...
MtLTONT RRYAN CHARITY NOTES TO THF, FTNANCIAL STATEMENTS- continued for the Year Ended 31 December 2021 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted funds INCOME AND ENDOWMENTS FROM Charitable activities Rents receivable 70,927 Other income 2,592 Total 73,519 EXPENDITURE ON Charitable activities Propety expenditure Charitable Grants 32,944 4,442 Other 924 Total 38,310 NET INCOME 35,209 RECONCILIATION OF FUNDS Total funds brought forward 265,870 TOTAL FUNDS CARRIED FORWARD 301,079 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.21 31.12.20 Rent Arrears 250 250 Page 6 continued.
MILTON BRYAN CHARITY NOTES TO THE FINANCTAL STATEMENTS- contlnued for the Year Ended 31 December 2021 CREDITORS: AMOUNTS FALLTNG DUE IVtTHtN ONE YEAR 31.12.21 31.12.20 Other creditors 2,310 2,310 MOVEMEwf IN FUNDS Net movement in funds Transfers between funds At 31.12.21 At 1.1.21 Unrestrlcted funds General fund Reserve fund 51,079 250,000 27,098 (48,000) 48,000 30,177 298,000 301,079 27,098 328,177 TOTAL FUNDS 301,079 27,098 328,177 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 74,063 (46,965) 27,098 TOTAL FUNDS 74,063 (46.965) 27,098 Comparatlves for movement in funds Net movement in funds Transfers between funds At 31.12.20 At 1.1.20 Unrestrlcted funds General fund Reserve fimd 63,870 202,000 35,209 (48,000) 48,000 51,079 250,000 265,870 35,209 301,079 TOTAL FUNDS 265,870 35,209 301,079 Page 7 continued..
MILTON BRYAN CHARTTY NOTES TO THE FTNANCIAL STATEMENTS- contlnued for the Year Ended 31 December 2021 IIIOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 35,209 73,519 (38,310) TOTAL FUNDS 73,519 (38,310) 35,209 A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds Transfers between funds At 31.12.21 At 1.1.20 Unrestricted funds General fund Reserve fund 63,870 202,000 62,307 (96,000) 96,000 30,177 298,000 265,870 62,307 328,177 TOTAL FUNDS 265,870 62,307 328,177 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 147,582 (85,275) 62,307 TOTAL FUNDS 147,582 (85,275) 62,307 Transfers between funds As proposed in 2017 and commenced in January 2018, £2,000 per month has been transferred to the special reserve this year. It was agreed to increase the transfers to £4,000 per month from 1st November 2019 and this has been reflected in the transfers this year. The special reserve has been created for anticipated major works and refurbishment.The trustees aim is to establish a £400,000 fund for this purpose. Page 8 continued..
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MILTON BRYAN CHARITY CLERK TO TRusfEES R KVOX The first grant of land to the Charity Estste in the Ancient Parish of Milton Bryan was in 1424 by a Mr Thomas Stanford of Westminster and a Mr and Mrs Wlliam Lucy of Flytwick and comprlsed their tenements, meadows, woods, etc in the town and fields of Milton Bryan. Subsequent grants were made by a variety of people which were consolidated and made permanent by Henry Vlll in a Deed dated July 1533 to the use of the inhabitants of the t(wne of Milton and their successors forever.- Some years later in 1556, more land was aclded and a new Deed executed which further clartfied the Objects of the Charity to the use of the inhabitants of the towne of Milton and their successors forever, the proffts thereof from time to time arising to be converted to whatever use whatsoever at the proper time shall be necessary for the inhabitants and their successor5 inhabitants of the town aforesaid. The objects of the Charity are the same today. Th"è Charity possesses a small farm and 10 cottages in the village - some of them have been occupied by the same families for generations - for example the Creamer family appear in the rent accounts of 1800, and a Creamer is still living in one of the houses. The Trustees letting policy is that the properties are first offered to the children or relatives of past or present inhabitants, or people who have s(xne connection with the village - the properties are all let on viable mathets rents. For the past 25 years all the proffts, apart from Christmas boxes to the Pensioners in the village, have been ploughed back into modemising the properties. The Trustees foresee that slgnificant expenditure will be required over the coming years to upgrade unmodemised properties and have created a reserve account for such use. If finances pemiit we propose to continue to build such reserve at the rate of £4,000 per mnth. Over and above this any free funds are available to relieve generalty or indmdualty persons resident In the village of Mifton Bryan and the Trustee8 have, during 2021, made such grants where it was decided that circum8tsnces dictated that such grants were appropriate. The Trustees conslder that the Charity can meet this need, and that it is within the Objects. We have continued to folknv the above policy durfng 2021 In accordance with our objethes. BEDFORDSTrItR4 LU7 9U. TEL: (01525) 21 ICI