REGisfERED CHARITY NUMBER: 232955 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR KINGS COThAGES TRUST
KINGS COThAGES TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 5t07 Detailed Statement of Financial Artivities
KINGS COThAGES TRusr REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report with the financial statements of the chartty for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Prdctice (SORP) 'Accounting and Reporting by Charitieg issued in March 2005. REFERENCE AND ADMINisfRATIVE DEfAILS Registered Charity number 232955 Principal address Tees House 95 London Road Bishop's Stortford Hertfordshire CM23 3GW Trustees Ms R Engel Mrs S Gilbey Mr T Pribul Mrs J Richardson Mrs C Izzard Mrs E Tripp Mr D Noakes Mrs A Bush Independent Examiner Garry M Slark Chartered Certified Accountant Goldings, Sheering Road Old Harlow Essex CM17 OU STRUCTURE. GOVERNANCE AND MANAGEMEKr Governing document The charity is controlled by its goveming document. a deed of trust and constitutes an unincorporated charity- Risk management The trustees have a dity to identify and review the risks to which the chartty is exposed and to ensure appropriate controls are in place to provide reasonable assurance against frdud and error. ON BEHALF OF THE BOARD: Date= -.5LIT>¢&.ekYkLL¥. IO£Itr Mr T Pribul - Trustee Page I
INDEPENDEKf EXAMINEWS REPORT ON THE AccouKfs TO THE TRusfEES OF KINGS coAGEs TRusr I report on the accounts for the year ended 31 March 2024 set out on pages three to seven. Respecth responslbllities of T aNI Examiner As the charitys Trusts you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 (Ihe ACV). 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 ACL Independent Examins Statematt I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination. I have no COnrnS and have come across no other matters in connection with the examinatlon to vthich attention should be drdwn in this report in order to enable a proper umlerstsnding of the accounts to be reached. Signed ....-........ Name A.Icclf Page 2
KINGS COTTAGES TRusr srATEMEKf OF FINANaAL AcfivmES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOMING RESOURCES Incoming resources from generated funds Maintenance contributions and investment income 95.542 95,542 84.998 RESOUR EXPENDED Costs of generating funds Costs of generdting income 45.617 45,617 73.674 Net Incomin{oUtgolng) resources available for charitsble application 49,925 49,925 11.324 Governance costs 200 150 NEf INCOME/(EXPENDITURE) FOR THE YEAR 49,725 49,725 11.174 RECONCIUATION OF FUNDS Total funds brought fonyard Investments at market value adjustment Restricted deferred funds to Generdl fund 268.124 3,333 9.198 268,124 3,333 9,198 257,456 -506 TOTAL FUNDS CARRIED FORWARD 330,380 330,380 268,124 The notes forni part of these finanaal ststements Page 3
KINGS COThAGES TRusr BALANCE SHEEr AT 31 MARCH 2024 2024 2023 Totsl funds Total funds Notes FIXED ASSETS Tangible assets Investments 39.296 79.598 39.296 76.265 I,894 115561 CURREKf ASSErs Debtors Cash at bank 216,654 163,249 216.654 163.249 CURREKf UABILMES Creditors Amounts falling due within one year Deferred income -5,168 -9,198 152,563 NEf ASSErs 330,380 268,124 FUNDS Unrestricted funds: General fund brought forward Surplus for the year Release of Restrirted funds to General fund Restricted deferred funds to General fund 10 239.432 53.058 28.692 9,198 227.941 11.491 330,380 239,432 28,692 Restricted funds TOTAL FUNDS 330.380 268.124 The financial ststements were approved by the Board of Tnstees on .-_...--.--...---.-- signed on its behalf by: and were Mr T Pribul - Trustee The notes form part of these finanual statements Page 4
KINGS COThAGES TRusr NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 l. AccouiYllNG POUCIES Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effertive January 2015), the Charities Act 1993 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Incoming resour All incoming resources are induded on the Statement of Finanaal Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure 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. Tanglble fixed assets Fixed Assets are shown at lower of Cost or Net Realisable Value. Investments Investments are shown at Market Value. Taxation The charity is exempt from tax on its charitable attivities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restrirted funds can only be used for particular restricted purposes within the objects of the charity- Refer to note 9 on page 7. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 2. MAIKfENANCE CONTRIBufioNS AND INVEsfMEpif INCOME 2024 2023 Maintenance contributions received Other investment income Deposit account interest Other Income 91,655 1.482 1,530 875 83,468 1.330 95,542 84.998 3. Trustee< REMUNERATION AND BENEFrrs There were no Trustees, remunerations or other benefits for the year ended 31 March 2024 nor forthe year ended 31 March 2023. Trustee Expenses There were no Trustees, expenses paid for the year ended 31 March 2024 norforthe year ended 31 March 2023. STAFF cosrs 2024 2023 Wages and salaries 6.200 5.822 Page 5
KINGS COThAGES TRusr NOTESTO THE FINANCIAL sfATEMEKrs-coKnNUED FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Freehold Property cosr At l April 2023 and 31 March 2024 39,296 NEf BOOK VALUE At 31 March 2024 39,296 At 31 March 2023 39,296 6. HXED ASSEf INVESTMEKrs 2024 2023 Other 79.598 76.265 There were no investment assets outside the UK. Investments were as follows= 2024 2023 M & G Charity Multi Asset Funds: HC Cook Bequest Cribb/Cook Bequest Kings Cottages Accumulation Account Kings Cottages General Fund Miss ME Cribb Bequest 23,940 1,986 42.313 5.260 2,766 45.041 34.557 79.598 76,265 7. DEBTORS: AMOUNTS FALUNG DUE wmiiN ONE YEAR 2024 2023 Debtors 1.259 1.259 8. CREDITORS: AMourS FALUNG DUE WIThIN ONE YEAR 2024 2023 Other creditors 5.168 1.488 Page 6
KINGS coAGEs TRusr NOTES TO THE FINANCIAL sfATEMEKrs- coKriNUED FOR THE YEAR ENDED 31 MARCH 2024 ACCRUALS AND DEFERRED INCOME 2024 2023 Cribb/Cook bequests No I Cribb/Cook bequests No 2 Cribb/Cook bequests No 3 2,766 23,940 1,986 The Trustees unanimously agreed at a meeting on 7th December 2023 that the three restrirted funds should be transferred to unrestricted Sin it had not b&n possible to detemiine their preci* intention from the Trusvs records due to their age. The Trustees have therefo assumed that the donations were in respect of rnaintenan expenditure and for the benefft of the residents The total value of the three funds has been completely expended over the past years. 28,692 10. MOVEMENT IN FUNDS Net At 1.4.23 movement At 31.3.24 in funds Unrestricted funds General fund Investments at market value (net Change) 277,322 49,725 3,333 327,047 3.333 TOTAL FUNDS 277,322 53.058 330.380 Net movements in funds. included in the above are as follows: Incoming ReSoUrS Movement Resources expended in funds Unrestricted funds General fund 95.542 45.817 49.725 TOTAL FUNDS 95.542 45,817 49.725 Pdge 7
KINGS COThAGES TRusr DEfAILED sfATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOMING RESOURCES Maintenance contrlbutlons and investment income Maintenance contributions received Other investment income Deposit account interest Other income 91.655 1.482 1,530 875 83.468 1,330 200 95.542 84,998 Total Incoming resources 95,542 84,998 RESOURCES EXPENDED Costs of generating income Warden's salary Water Rates Council Tax Insuran Light & Heat Maintenance and Repair5 Secretsrial and Professional costs Security costs Sundries 6,200 5,019 5,822 5.841 760 1,276 -33 54.647 3,967 738 656 1,334 29 22,543 627 859 45.617 73.674 Governance costs Accountancy 150 Total resources expended 45,817 73,824 Net (expenditure)/income 49,725 11.174 This page does not fomi part of the statutory finanaal statements Page 8