CHARITY NUMBER 233086 CHARITY OF ANN HOWSDEN TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
CHARITY OF ANN HOWSDEN REFERENCE AND ADMINXSTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 NOMINATED TRUSTEES Ms. J. M. J. Goodwin Mr. B. Genevier Mrs. J. Gruby Mr. l.R. Pearson CO-OPTED TRUSTEES Mr. A. D. C. Brown Ms. C.L. Brown {Chalr) Mr. C, M. Elliott M5. P. C. Loveday-smith EX-OFFICIO Rev. L Smith (Priest in Charge) ADMINISTRATOR Ms. A. Klng TREASURER Mr. A. N. Cliffe CHARITY REGISTRATION NUMBER 233086 PRXNCIPAL OFFICE The Grange 8 Hall Fami Barns Hunts Lane Hinxton Cambridgeshire CBIO ISG BANKERS Lloyds Bank plc Blackheath Branch PO Box 1000 8x1 ILT FINANCIAL ADVISERS Ruffer LLP 80 Victoria Street London SWI 5JL
CHARtrY OF ANN HOWSDEN TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 TRUSTEES, REPORT Prlnclpal address The Charity's principal address is The Grange, 8 Hall Farm Barns, Hunts Lane, Hinxton, Cambridgeshire CBIO ISG History of the Charity and current status The Trust was created in 1631 by Ann Howsden with a permanent endowment of approxlmately 34 acres of land at Moggerhanger, Bedfordshire. The last of this land was sold in Ottober 2010. The Trust now owns four bungalows In Hlnxton, three of which are rented at affordable rates to local resldents. The fourth is currently rented at an intermediary rate, with the option to increase to a commercial basis. The land on whlch stood the former garages to the east of the properties is also owned by the charlty and allows for four allocated parking spaces for the tenants. The Trust constitution was modernised and a new Scheme adopted under Order of the Charity Cornmissloners dated 9 November 1998 and has since been re-written with the assistan of Hewitsons, charity lawyer, Virginia Henley. The new Consolldated Scheme dates from 21 September 2020, having been approved by the Charity Commission. Charltable purpose Under the new scheme the objects of the Charity are- 'the rellef of persons resldent in the area of benefit {being the Parish of Hinxton) who are in need, hardship or distress and 'to benefit the residents of the area of berbefit by provlding or assisting In the provision of facilities in the interests of social welfare for recreation and leisure time occupation with the objettive of improving the conditions of Ilfe of the residents. Prlnclpal activity Jnd public benefrt In furtherance of these objects. but not otherwise, the Trustees shall have the power to. make grants of money to Inhabitants in the area of benefit. provide housing, provide or pay for goods, services or facllltles; or make grants of money to other persons or bodies who provide goods, services or facilitie5 to those in need. The Charity expended £5,353 during the year on general rnaintenan of the properties and general imprgvements.
CHARrrY OF ANN HOWSDEN TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 TRUSTEES. REPORT (contlnued) Trustees The Trustees of the Chartty are as stated on page 2 of this report. The Secretary to the Trustees is Ms. Alison King. The nominated Trustees are nominated by Hinxton Parlsh Council. With the exception of the Ex-officio Trustee, all Trustees are appointed for a four-year term, such that one co-opted and one nominated Trustee retire each year. Financlal report and Investment policy The investment portfolio of the Charity is held by Ruffer LLP Investment Management and managed on a fully discretionary basis. The investment objective is to preserve capital over mlling twelve-month periods and to grow the portfolio at a higher rate than could reasonably be expected fmm bank deposits. Currently any dlvidends are reinvested. Valuations of the portfolio are provided quarterly and are accessible at any tlme on-line by the Treasurer and two additional Trustees and regular quarterly repo are presented at Trustees. meetings. fteserVe pollcy The reserves, pollcy is to put aside funds for the maintenance of the four investment properties in accordance with guidan from the managing agent and to provide for major repairs and malntenance costs to keep the properties in good order. The Trustees have approved the above report and authorised the Chair to slgn it on their behalf. Ms. C.L. Brown - Chair Date.. 24 ot
CHARITY OF ANN HOWSDEN INDEPENDENT EXAMINER"S REPORT TO THE TRUSTEes FOR THE YEAR ENDED 30 SEPTEMBER 2024 I report on the accounts for the year ended 30 September 2024 set out on pages 6 to IQ. Respectlve rasponslbllltles of the Trustéas and Examlner The charity's Trustees are responsible for the paratIOn of the account5. The charity's Trustees consider that an audit is not required for this year {under Settion 144121 of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. It is my responsibility to: examine the accounts Jnder Section 145 of the 2011 Act,. to follow the procedures lald down In the General Dirertions glven by the Charlty Commission (under Sertion 145{51(bl of the 2011 Act),. and to state whether partcular matters have come to my attentlon. Basls of the Independent Examlner's report My examlnatSon was Cared out In accordance wlth the General Dlrections glven by the chatY Commlsslon. An examlnatlon Includes a revlew of the accounting records kept by the charlty and a COmpaS0n of the accounts presented wlth those records. It also includes conslderatlon of any unusual Items or disclosu5 in the accounts and seeking explanations from you as Trustees Conrning such matters. 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 'tnse and fair view, and the report is limited tts those matters set out in the statements below. Independent Examlnerfs statement In connectlon wlth my examlnatlon. no matter has come to my attention.. (11 whlch glves me reasonable cause to believe that, in any materlal aspect, the requirements to keep accountlng records In accordance wlth Sertlon 130 of the Att 2011,. and to prepare accounts whlch accord with the accounting record5 and to comply with the accountlng requirements of the 2011 Act. have not been met,. or {21 to which, In my oplnlon, attention should be drawn In order to enable a propèr understanding of the accounts to be reached. S.R.F. White Tayabali & White Chartered Accountants 5 High Green Great Shelford Cambridge CB22 SEG Date.. vlifvGL lok,"
CHARITY OF ANN HOWSDEN STATEMENT OF FINANCIAL AcfivITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 Notes 30 September 2024 30 SePteMr 2023 Total Total INCOMING RESOVRCES Xncomirsg resources from generated funds Income from rentals Bank interest and other 24,988 22,256 Total Incoming rnsources RESOURCES EXPENDED Cost of generating funds Property expenses Charltable activitles Governance costs Other resources expended 9,877 6,314 1,831 24,709 5,465 1,535 Total regources expended Net Incoming resources/(outgolng expendlture) Wore galns and losses on Investments 6.966 (9,4531 Galnl(Loss) on Invastments Net movémont in fund5 12,961 (15,395) RECONCILIATION OF FUNDS Total fundg brought forward 503 207 TOTAL FUNDS CARRIED FORWARD 500 774 487 812 The notes on pages 8 to 10 form part of these financial statements
CHARITY OF ANN HOWSDEN BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 FIXED AssFrs Investment properties Flnancial Investments 338,842 139 897 338,842 133 901 478.739 472,743 CURRENT ASSETS Balance due from KAH Cash at bank 25,400 17,934 25,400 17,934 CURRENT LIABXLXTXES (3,365) {2,865) Total net agsets 500 774 487 812 Répresented by: Unrestrirted fund Income and general fund 500 774 Total fund$ 500 774 The flnancial 5tstement5 were approved by the Trustees on slgned on their behalf by.. and Ms. C.L. Brown (Chalrj The notes on pages 8 to 10 forrn part of these financlal statements
CHARrrY OF ANN HOWSDEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 l. AccouTrtlng pollcle$ Bas of preparation The accounts (financial Statemts) have been ppared on the cash basls, with Ttems recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial Statements have been prepared In accordance with the statement of Recommended Practlce.. Accounting and Reporting by Charities preparlng thelr accounts in accordance wth the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 1021 Issued on 16 July 2014 and the Financial Reportlng Standard applicable in the Unlted Kingdom and Republic of Ireland IFRS 1021 and the Charities Att 2011. The charlty constitutes a publlc benefit entlty as defined by FRS 102. IncomiTng resources All incoming re5tiurces are Included in the Statement of Finèn¢ial A£vItIeS (-SOFA") wherh recelved by the charity. Resources expended ExpendSture 15 accounted for on a payment basés and has been classifled under headings that agggate all cost related to the category. Where costs cannot be dlrert5y attributed to PacUlar categorles, they have been allocated to activlties on a basi5 consistent wlth the use of resources. Taxatlon The charity is exempt from tax on its charltable attivitie5. Investmènt propertles and financlal Investments Investment properties are valued at cost. No charge Is made for depreclatlon. Financial Investments are a fomi of baslc financlal Instrument, initially recognlsed at thdr transaction value and subsequently measured at their falr value as at the balance sheet date using the closlng quoted market prlce. The SOFA Includes the net gains and losses arising on revaluatlon and disp05als throughout the year. The Trust does not acquire.put options" derSvatlves or other complex financial instruments. The main fom of financlal risk faced by the charity is that of volatility in equlty markets and investment markets due to wlder economic condltyons, the attitude of investors to Investment risk, and changes in sentiment concernlng equities and withln particular sectors or sub sectors. Fund acctyuntlng All funds are unrestrirted and can be used In accordance with the charStable objertlves at the discretiorh of the Trnstees.
CHARITY OF ANN HOWSDEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (cont.) 2. Incoming Resources 2024 2023 Income from property rentals Bank and other interest 24,988 22,256 3. Rewurces Expendad 2024 2023 Property repairs Survey and test feè5 Property management fees and other Property Insurance 5,353 20,787 2,999 2,707 2024 2023 Charitabl• art1vi¢S Charltable ald and asslstance 2024 2023 Governance costs Safeguarding Independent exam fee Trustees. Insuran¢¢ Treasurer's honorarlum 278 540 363 650 522 363 650 2024 2023 Other resources expended Secretarlal and sundry
CHARITY OF ANN HOWSDEN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 (cont.) 4. Trustees. r¢muneratlon •nd benefits There were no Trustees, remuneratlon or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. There We no Tnjstees. expenses pald for the year ènded 30 September 2024, nor for the year ended 30 September 2023. S. Flnanclal inv¢stmonts Movement In flxed asset RnV•Stm•nts 2024 2023 Market value brought fOard at l Ortober 2023 (Dlsposalsl of Investments at ¢ost Fair value adjustment 133,901 154,843 (15,0001 Market value at 30 September 2024 139 897 133 901 6. Investment propertles 2024 2023 Cost at i October 2023 338,842 338.842 Additlons to properties Cost at 30 September 2024 338 842 338 842 7. Current Ilabllltleg 2024 2023 Donatlon to Parochial Church Council Trustees. insurante 3,002 2,502 63 io