CHARITY NUMBER 233086 CHARITY OF ANN HOWSDEN TRusfEES' REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
CHARrrY OF ANN HOWSDEN REFERENCE AND ADMINxsfRATIVE DEfAiLS OF THE CHARITY, rrs TRUSTEES AND ADVISERS FOR THE YEAR E14DED 30 SEPTEMBER 2022 NOMINATED TRusfEES Ms. J. M. J. Goodwin {Chalr) Mr. l.R. Pearson Mrs. C. Riley Mrs. V. Walker CO-OPTED TRusfEES Mr. A. D. C. Brown Ms. C.L. Brown Mr. C. M. Elliott Ms. P. Loveday-smith EX-OFFICIO Rev. L Smlth (Prlest In Charge) ADMINISTRATOR Ms. A. King TREASURER Mr. A. N. Cliffe CHARITY REGISTRATION NUMBER 233086 PRINCIPAL OFFICE The Grange 8 Hall Farm Barns Hunts Lane Hinxton Cambridgeshlre CBIO ISG BANKERS Lloyds Bank plc Blackheath Branch PO Box 1000 BXI ILT FINANCIAL ADVISERS Ruffer LLP 80 Victoria Street London SWI 5JL
CHARrrY OF ANN HOWSDEN TRUSTEES. REPORT AND FINANCIAL STATEMEpirs FOR THE YEAR ENDED 30 SEPTEMBER 2022 TRUSTEES. REPORT Prlnclpal address The Charlty's princlpal address is The Grange, 8 Hall Fam Barns, Hunts Lane, Hinxton. Cambr6dgeshire CBIO ISG Hlstory of the Charlty and current status The Trust was created in 1631 by Ann Howsden with a permanent endowment of approximately 34 acres of land at Moggerhanger, Bedfordshire. The last of thls land was sold In October 2010. The Trust now owns four bungalows In Hlnxton, three of which are rented at affordable rate5 to local residents. The fourth is currently rented at an intermediary rate, with the option to increase to commercial basis. The land on which stood the former garages to the east of the properties Is also owned by the charlty and allows for four allocated parking space5 for the tenants. The Trust constitution was modemised and a new Scheme adopted under Order of the Charity Commissioners dated 9 November 1998 and has since been re-written with the assistance of Hewitsons, charity lawyer. Virginia Henley. The new Consolidated Scheme dates from 21 September 2020, havlng been approved by the Charlty Commlsslon. Charltable purpose Under the new scheme the objects of the Charity are: 'the relief of persons resident In the area of beneflt (being the Parlsh of Hinxton) who are in need, hardship or distress,; and 'to benefit the residents of the area of benefit by providing or assisting In the provlslon of facillties In the interests of social welfare for recreatlon and leisure tlme occupatlon wlth the objective of improving the conditions of life of the resldents. Prfnclpal actlvlty and publlc benefft In furtherance of these objects, but not otherviise, the Trustees shall have the power to; make grants of money to inhabitants in the area of benefit; provide housingi provide or pay for goods, setvices or facilities; or make grants of money to other persons or bodies who provide goods, servi5 or facilities to those in need. Rents received were sllghtly reduced In 2021-22 as one of the properties had a period of vacancy. The Charity invested £43,104 during the year to make improvements to the properties (Includlng fencing and sheds) in line wrth the 2019 stock condition survey findings. The improvements We fijnded from cash resources and by a drawdown of £15,000 from investments.
CHARrfY OF ANN HOWSDEN TRUSTEES. REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 TRUSTEES. REPORT {contlnued) Trnstees The Trustees of the Charity are as stated on page 2 of this report. The Secretsry to the Trustees is Ms. Alison Klng. The nomlnated Trustees are nominated by Hlnxton Parlsh Councll. With the exception of the Ex-offlclo Trustee, all Trustees are appointed for a four-year term, such that one co-opted and one nominated Trustee retlre each year. During the year. a number of terms were extended to enable Trustees to remain in post until the Annual General Meeting, which it was agreed should be moved from November 2022 to March 2023. Flnanclal report and Investment pollcy The investment portfollo of the Charlty Is held by Ruffer LLP Investment Management and managed on a fully dlscretlonary bas15. The investment objettlve 15 to preserve capital over rolling twelve-month periods and to grow the portfolio at a hlgher rate than could reasonably be experted from bank deposits. Currently any dlvidends are relnvested. Valuations are accessible on-line by the Treasurer and two additlonal Trustees and regular quarterly reports are presented at Trustees, meetlngs. Reserves. pollcy The reserves, policy is to put aside funds for the malntenance ofthe four investment propertles in accordance with guidance from the managlng agent and to provide for major repairs and maintenance costs to keep the properties in go¢)d order. The Trustees have approved the above report and authorlsed the Chalr to sign It on their behalf. Ms. J. odwln - air Date: 17.£.Z3
CHARITY OF ANN HOWSDEP4 INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES FOR THE YEAR ENDED 30 SEFfEMBER 2022 E report on the accounts for the year ended 30 Septunber 2022 set out on pages 6 to 10. Respective rnsponsibilities of the Trustees and Ex•mlner The charity's Trustees are responslble for the preparation of the aco)unts. The charlty's Tnjstees consider that an audit is not required for this year {under Section 14412) of the Charities Act 2011 Ithe 2011 Act)) and that an Trndependent examinats.on is reouired. It 15 my responsibiloty to: examlne the accounts under Sertion 145 of the 2011 Act: to follow the procedures laid down in the General Directions given by the Charity Commlssion (under Section 14515)Ib) of the 2011 Act). and to state whether particular matters have come to my attention. Bas1$ of the Independent Examln•rfs report My examination was carried out in accordance with the General Direction5 glven by the Charity Commission. An examination indude5 a review of the accounting records kept by the charity and a comparison of the accounts presented with those COrdS. It also includes consideration of any unugjal Items or dlsclosures in the accounts and seeking explanatlons from you as Trustees concerning such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequentially no opinion is given as to whether the accounts present a 'true and fair vlew, and the report Is Ilmlted to those matters set out in the statements below. Ind•pendent Examlner's itatement In connecilon with my exarnination. no matter has come to my attention: 111 which gives me reasonable cause to belleve that, in any material aspect, the requirements to keep accounting records in accordance wrth Sectth 130 of the Act 2011; and to Prepa accounts whith accord with the accounting records and to comply with the accounting requirements of the 2011 Act. have not been met; or (2) to which, in my opinlon. attentSon should be drnwn In order to enable a proper understandlng of the accounts to be reathed. S.R.F. White Tayabali & White Chartered Accountants 5 High Green Great Shelford Cambridge C822 SEG Date: 3ol3
CHARrrY OF ANN HOWSDEN STATEMENT OF FINANCIAL AcfivTflES FOR THE YEAR ENDED 30 SEPTEMBER 2022 Notrs 30 30 September September 2022 2021 Total Total INCOMING RESOURces Incomlng resources from generated funds Income from rentals Bank Interest and other 22.041 23,624 Total Incomlng resour$ 041 RESOURCES EXPENDED Cost of generatlng funds Property expenses Charitable artivitles Governance costs Other resources expended 47,450 6,661 1,511 8,793 8,114 2,393 Total regourw expend•d Net (outgolng expendlture)Ilncomlng resources before galns an41 lossas on Inv••tm•nts (33.581) 4,324 Galn$ on Inve•tmwts Plet movement In fund• (30,420) 22,981 RECONCIUATION OF FUNDS Total funds brought forniard 533 627 TOTAL FUNDS CARIUED FORWARD 503 207 533 627 The notes on pages 8 to 10 form part of these finanoal ststements
CHARrrY OF ANN HOWSDEN BALANCE SHEET AS AT 30 SEPTEMBER 2022 2022 2021 FAXED ASSErs Investment propertles Flnanclal investments 338,842 154 843 338,842 166,682 493.68S 505.524 CURRENT ASSETS Bèlance due from RAH Cash at bank 708 27,395 11387 12,387 28,103 CURRENT UABILITIES (2,865) Total net •Met• 503 207 533 627 Repr••ented by: Unr¢•trl¢ted fund Income and general fvnd 503 207 S33 627 Total fund* 533 627 The flnancial statements were approved by the Trustees on ................................................ and signed on thelr behalf by.. Ms. J. wln (Chalr) The notes on pages 8 to 10 form part of these financial statements
CHARITY OF ANN HOWSDEN NOTES TO THE FINANCIAL sfATEMEf4TS FOR THE YEAR ENDED 30 SEPTEMBER 2022 l. Accountlng polld •sls of prnparntlon The accounts (financial statements) have been prepared on the cash ba515. Wlth rtems recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been ppared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities prepanng their accounts in accordance with the Finanoal Rew)rtin9 Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financlal Reporting Standard applicable in the United Kingdom an*J Republic of Ireland (FRS 102) and the Charities Art 2011. The Charlty constitutes a publlc benefit entity as defined by FRS 102. Zncomlng resourrns All incoming resources are Included In the Ststernent of Flnandal Actlvlb'e5 {"SOFAI when received by the charity. Resources pended Expenditure Is accounted for on a payment basis and has been dasslfied under heading5 that a99gate all cost related to the category. Where costs cannot be directly attributed to particular categories, they have been allocated to activities on a basis consistent with the use of resources. Tuatlon The charity is exempt from tax on tts charrtable artlvltles. Investnnt propertles and fln•nclal Inv•stm•nts Investment properties are valued at cost. No charge is made for depreciatlon. Finoncial investments are a fomi of basic financial instrument, initially recognised at their transartion value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SOFA includes the net gains and losses arising on revaluation and disposals throughout the year. The Trust doe5 not acquire-put options", denvatives or other complex Tinancial instruments. The main fomi of ftnancial risk faced by the charity is that of volatility in equity markets and investment markets due to v4ider economic conditions, the attitude of investOTS to investment risk. and changes in sentiment concerning equities and wtthin pathcular sectors or sub sectOTS. Fund accountlng All funds are unrestricted and can be useij in accordance with the charitsble objettives at the discrthon of the Trustees.
CHARrrY OF ANN HOWSDEN NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 30 SEPTEMBER 2022 {cont.) 2. Incomlng Resourc 2022 2021 Income from property rentats Bank and other interest 22.041 23,624 3. Resourc•s EXnd 2022 2021 Property repal Survey and test fees Property management fees and other Property insurance 43,104 4,231 996 2,835 731 3,459 2022 2021 Charltable •rtlvlHes CharitatAe aid and assistance 2022 2021 Legal fees re revision of cOnsts10n and scheme Independent exam fee Trustee5' insurance Treasurerfs honorarium 900 480 363 650 498 363 650 2022 2021 Secretarial and sundry
CHARrrY OF ANN HOWSDEN NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 (conL) 4. Trustees. remun•r•tlon and ben•flts There were no Trustees. remuneratlon or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021. There We no Trustees, expenses paid for the year ended 30 September 2022. nor for the year ended 30 September 2021. S. Flnanclal Investments Movwn•nt In flxed •sset Inv•stments 2022 Market value brought fon¥ard at l October 2021 (Dlsposals) of investments at cost Fair value adjustment 166.682 115.000) Market value at 30 September 2022 154 843 6. Investment prop•rtleB 2022 2021 Cost at l Ottober 2021 338.842 338.842 Additlons to properties Cost at 30 September 2022 338 842 338 842 7. Current Ilabllltles 2022 2021 Donation to Parochial Churth Counol Trustees. insurance 2,502 363