1 Roker Way Fair Oak Eastleigh . . . . . . . . . HANTS SO50 7LD Tel (07815) 435 380 24 October, 2024 E-mail: paulreynolds48@hotmail.com ## **Cottage Charities 31[st] March 2024 Registered Charity No. 236512 Financial Statements** **Contents Pages** Officers and Professional Advisors 1 Trustees’ Report 2 & 3 Independent Examiner’s Report 4 Receipts and Payments Account 5 Statement of Assets and Liabilities 6 Notes to the Financial Statements 7 PAUL REYNOLDS, FMAAT . . . . . . . . . . . . . . . . . . . . . . . . . . . . ## **COTTAGE CHARITIES** ## **OFFICERS AND PROFESSIONAL ADVISORS** ## **31[st] MARCH 2024** **Trustees** Mrs P Foster Mr N Blackmore Mr J Neil Mrs Z Smale Mrs P West **Principal Office** The Fairground Weyhill Andover HANTS SP11 0QN **Accountants** Fair Account 1 Roker Way Fair Oak HANTS SO50 7LD **Bankers** Lloyds Bank 22 High Street Andover HANTS **Solicitors** Middletons Solicitors 24-32 London Street Andover HANTS. SP10 2PE ` **1** ## **COTTAGE CHARITIES** ## **TRUSTEES REPORT YEAR ENDED 31[st] MARCH 2024** ## **GOVERNING DOCUMENT** The Cottage Charities is governed by the Trust Deed dated 1801. ## **APPOINTMENT OF TRUSTEES** Penton Grafton Parish Council nominates the Trustees. ## **RELATED PARTIES** Penton Grafton Parish Council provides full administrative support for the Charity. ## **OBJECTS AND ACTIVITIES** The objects of the charity are to provide low-cost housing to members of the Parish. ## **ACHIEVEMENTS AND PERFORMANCE** All the nine properties are now in excellent condition and of a high standard. However continuous work will have to be carried out in future years to ensure that the properties continue to keep their current high standard and meet any new regulations which may be brought in. The charity continues to provide low-cost housing to members of the Parish and all properties have remained let throughout the year. ## **FINANCIAL REVIEW** Financially the charity is again in a sound position with adequate reserves but, as stated in previous years, the properties are of chalk or flint and brick and require adequate reserves for maintenance and, in addition, the Trustees would like to see further low-cost housing in the Parish. Bearing in mind all the factors it is considered that the current reserves are prudent and at a satisfactory level but should be kept under review for future maintenance needs. ` **2** ## **COTTAGE CHARITIES** **TRUSTEES REPORT (continued) YEAR ENDED 31[ST] MARCH 2024** ## **INFORMATION** The registered charity number is 236512. See page 1 for details of principal office and other relevant organisations. The trustees who served the charity throughout the period, except where indicated, were as follows: Mrs P Foster Mr N Blackmore Mr J Neil Mrs Z Smale Mrs P West All assets held by the charity are disclosed on the statement of assets and liabilities. The charity holds no other assets. All trustees are Councillors at Penton Grafton Parish Council. 7 October 2024 ………………………………………………………. On behalf of the trustees ` **3** ## **COTTAGE CHARITIES** ## **INDEPENDENT EXAMINER’S REPORT** ## **YEAR ENDED 31[ST] MARCH 2024** ## **Independent Examiner’s Report to the Trustees of the Cottages Charities** I report on the accounts of the charity for the year ended 31[st] March 2024 which are set out on pages 5 to 7. ## **Respective responsibilities of trustees and examiner** The charity’s trustees consider that an audit is not required for this year (under section 43 (2) of the Charities Act 1993 (the Act), as amended by s.28 of the Charities Act 2006 and that an independent examination is needed. It is my responsibility to: - Examine the accounts (under section 43 of the Act, as amended) - To follow the procedures laid down in the General Directions given by the Charity Commission (under section 43 (7) (b) of the Act, as amended), and - To state whether particular matters have come to my attention ## **Basis of independent examiner’s report** My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts. ## **Independent examiner’s statement** In the course of my examination, no matter has come to my attention 1. Which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that: - Proper accounting records are kept (in accordance with section 41 of the Act); and - Accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or 2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. …………………………………………………………. Independent Examiner …………………………… Date **Paul Reynolds FMAAT Fair Account 1 Roker Way Fair Oak Eastleigh. SO50 7LD** ` **4** ## **COTTAGE CHARITIES** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **YEAR ENDED 31[ST] MARCH 2024** |||**2023/24**
**Total Funds**|**2023/24**
**Total Funds**|**2023/24**
**Total Funds**|**2023/24**
**Total Funds**||**2022/23**
**Total Funds**|**2022/23**
**Total Funds**|**2022/23**
**Total Funds**|**2022/23**
**Total Funds**|**2022/23**
**Total Funds**| |---|---|---|---|---|---|---|---|---|---|---|---| |||**£**|||**£**||**£**||||**£**| |**Receipts**
Rent
Bank Interest
VAT Refunds / Grants / Refunds
Allotments
**Total Receipts**
**Payments**
General Administration & Bank Charges
Insurance
General maintenance
Cottage Maintenance and Expenses
Accountancy
Allotments
VAT Paid
**Total Payments**
**Net Receipts for the year**
**Net Payments for the year**
Bank Deposit & Current accounts**at 31/3/24**
Bank Deposit & Current accounts**at 31/3/23**||50,982
751
0
186
15,601
2,955
4,830
23,711
970
276
1,262|

||||50,984
134
15,541
62
13,882
2,641
4,289
48,278
925
994
8,684|

|

|**66,721**
**79,693**
**£12,972**
**£91,517**|| |||||

|||||||| ||||||||||
||| **5** ` ## **COTTAGE CHARITIES** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AS AT 31[ST] MARCH 2024** |**AS AT 31ST MARCH 2024**|||||| |---|---|---|---|---|---| |||**31/3/2024**|||| |||**£**|||**£**| |**MONETARY ASSETS**
Bank and Cash balances:
▪
Bank Current Account
▪
Bank Deposit Account
▪
Premium 10-day notice Account
▪
60-day notice Account
▪
Business Bond Account
**Total for General Purpose Funds**
**NON-MONETARY ASSETS**
Fixed Assets used by the Charity:
▪
1 New Cottage b. 1860 excellent condition
▪
2 New Cottage b. 1860 excellent condition
▪
Pear Tree Cottage b. 1910 excellent condition
▪
Meadow View Cottage b. 1930 excellent condition
▪
1 Weyhill Bottom b. 1800 excellent condition
▪
2 Weyhill Bottom b. 1800 excellent condition
▪
3 Weyhill Bottom b. 1800 excellent condition
▪
4 Weyhill Bottom b. 1800 excellent condition
▪
20 Michaelmas Drive b. 1987 excellent condition
▪
New Computer (19/11/20)
**LIABILITIES**
Future Liabilities
Public Works Loan||30,668
0
63,163
0
0
250, 000
260, 000
330, 000
320, 000
235, 000
180, 000
170, 000
250, 000
139,000
675
0
0||**£93,831**
**£2,134, 675**
**0**|| |These financial statements were approved by the Trustees and are sign|ed on their behalf by:||||| ~~……………………………………….. ………………………………………~~ ` On behalf of the Trustees Date **6** **COTTAGE CHARITIES** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **YEAR ENDED 31[ST] MARCH 2024** ## **ACCOUNTING POLICIES** The Accounting Policies adopted by the Company are as follows: ## ▪ **Basis of Accounting** The Accounts have been prepared in accordance with applicable accounting standards and are on a Receipts and Payments basis. ## ▪ **Income** Income is represented by Rental Receipts, and other income as shown. ## ▪ **Fixed Assets** Fixed Assets shown here are included at market value subject to tenancy; there are no uncapitalised fixed assets. Assets listed below are at July 2007 valuations, except for the more recent property purchase of 20 Michaelmas Drive, which is at August 2016 valuation. |▪
▪
▪
▪
▪
▪
▪
▪
▪
|1 New Cottage b. 1860 excellent condition
2 New Cottage b. 1860 excellent condition
Pear Tree Cottage b. 1910 excellent condition
Meadow View Cottage b. 1930 excellent condition
1 Weyhill Bottom b. 1800 excellent condition
2 Weyhill Bottom b. 1800 excellent condition
3 Weyhill Bottom b. 1800 excellent condition
4 Weyhill Bottom b. 1800 excellent condition
20 Michaelmas Drive b. 1987 excellent condition
**£**|180, 000
250, 000
320, 000
192, 000
160, 000
170, 000
120, 000
240, 000
139,000
**1, 771, 000**| |---|---|---| ## ▪ **Depreciation** No depreciation is provided as the Accounts are on a Receipts and Payments basis. ` **7**