## **THE NANCY DERBYSHIRE TRUST**
**ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023**
**Charity Registration No. 237996**
## **THE NANCY DERBYSHIRE TRUST**
## **LIST OF PROFESSIONAL ADVISERS:**
**Independent Examiner:**
**Independent Examiner:** Helen Binns Beever and Struthers The Beehive Lions Drive Blackburn BB1 2QS **Solicitors:** Forbes 2/6 Wellington Street (St John’s) Blackburn BB1 8DD **Bankers:** HSBC Bank plc 60 Church Street Blackburn BB1 5AS
## **THE NANCY DERBYSHIRE TRUST**
|**Contents**|**Page**|
|---|---|
|Trustees’ Annual Report|1 - 2|
|Independent Examiner’s Report|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Financial Statements|6 - 9|
## **THE NANCY DERBYSHIRE TRUST**
## **TRUSTEES’ ANNUAL REPORT**
The Trustees present their annual report for the year ended 31 December 2023.
## **Principal aims and objectives:**
The trust was established under a Trust deed dated 26 August 1893. Its objects are to provide Almshouses for poor persons of good character who have resided within the borough for at least 5 years. Any residue of income may be distributed amongst other similar people.
## **Main activities, achievements and financial performance:**
During the period under review, the rents received by the trust amounted to £23,940 (2022: £23,978) and all other income received was from investments.,
## **Legal and Administrative information:**
- The name of the charity is The Nancy Derbyshire Trust.
- The Charities Registration number is 237996.
- The premises of the Trust are the Almshouses, St Silas’ Road, Blackburn but all correspondence should be addressed to Adam Bromley at Forbes Solicitors, 2-6 Wellington Street (St John’s), Blackburn.
- The names of the trustees who served during the year were as follows:-
R Prest V Edge J P Dignan S Jolly A J Bromley
The power of appointing new trustees is exercisable by all existing trustees.
The Trustees have invested certain of the Trust’s Funds into a range of investments as detailed in Note 6 to the accounts. The market value of the investments increased by £6,062 (2022: £7,431 decrease) during the year.
## **Reserves Policy**
Unrestricted funds are needed:
- to produce investment income sufficient to cover the Trust’s normal level of expenditure and
- to maintain a contingency reserve to safeguard the Trust in the event of unforeseen circumstances.
The level of reserves is monitored and reviewed by the Trustees annually.
The trust has an Endowment Fund of £160,000 (2022: £160,000).
1
## **THE NANCY DERBYSHIRE TRUST**
**TRUSTEES’ ANNUAL REPORT (CONT)**
## **Statement of trustees’ responsibilities**
The trustees of The Nancy Derbyshire Trust have pleasure in presenting their Report and Financial Statements for the year ended 31 December 2023. The financial statements comply with the Statement of Recommended Practice – Accounting and Reporting by Charities.
The law applicable to charities in England and Wales requires the trustees to prepare statements of account for each financial year, which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
- (a) Select suitable accounting policies and apply them consistently;
- (b) Make judgements and estimates that are reasonable and prudent;
- (c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
- (d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity which enable them to ensure that the financial statements comply with the Charity (Accounts and Reports) Regulations 2000. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are also responsible for all trust finance, its management and control. These responsibilities include:
- (a) Keeping “proper accounting records” which are sufficient to show and explain all the trust’s transactions and must include a record of all relevant assets and liabilities.
- (b) Ensuring that the finances of the trust are under its control and only delegated if the trust can ensure that its wishes will be followed.
- (c) Preparing annual financial statements and report, which shall be presented to the trustees in accordance with the requirements of the trust deeds.
## **PUBLIC BENEFIT**
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the trust’s aims and objectives and in planning future activities
Approved by the trustees and signed on their behalf:
Signed: R Prest
Date: …………………
2
## **THE NANCY DERBYSHIRE TRUST**
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE NANCY DERBYSHIRE TRUST**
I report on the accounts of the Trust for the year ended 31 December 2023, which are set out on pages 4 to 9.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; 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 Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
- 1) Which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord to the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
- 2) To which, in my opinion, attention should be drawn in order to enable the proper understanding of the accounts to be reached.
Helen Binns Beever and Struthers The Beehive Lions Drive Balckburn BB1 2QS Dated: …………………
3
## **THE NANCY DERBYSHIRE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income and**
**Endowments**
**Income**
_Donations_
2
_Rental income_
3
_Investment_
_income_
4
**Total**
**Expenditure:**
_Charitable_
_activities_
5
**Net incoming /**
**(outgoing)**
**resources**
**before other**
**gains**
Transfers
between funds
Net unrealised
(loss) gain on
investments
7
**Net movement in funds**
**Reconciliation**
**of funds**
Total funds
brought forward
**Total funds carried**
**forward**|**2023**
**Unrestricted**
**Funds**
**Endowment**
**Funds**
**Total**
**£**
**£**
**£**
6,729
-
6,729
-
23,940
23,940
7,482
-
7,482
14,211
23,940
38,151
(7,015)
(5,165)
(12,180)
7,196
18,775
25,971
18,775
(18,775)
-
6,062
-
6,062
32,033
-
32,033
334,503
160,000
494,503
366,536
160,000
526,536|**2022**
**Unrestricted**
**Funds**
**Endowment**
**Funds**
**Total**
**£**
**£**
**£**
-
-
-
-
23,978
23,978
6,825
-
6,825|
|---|---|---|
|||6,825
23,978
30,803
(6,935)
(17,484)
(24,419)|
|||(110)
6,494
6,384
6,494
(6,494)
-
(7,431)
-
(7,431)|
|||(1,047)
-
(1,047)|
|||335,550
160,000
495,550|
|||334,503
160,000
494,503|
There are no recognised gains or losses in 2023 or 2022 other than net movements in funds for the year.
The notes on pages 6 to 9 form part of these accounts.
4
## **THE NANCY DERBYSHIRE TRUST**
## **BALANCE SHEET AS AT 31 DECEMBER 2023**
|Note
**Fixed assets**
Investment property
6
Investments
7
**Current assets**
Debtors
8
Cash at bank
9
**Liabilities**
Creditors: amounts
falling within one year
10
**Net Current Assets**
**Total Assets less**
**Current Liabilities**
**The funds of the**
**charity:**
Unrestricted income
funds
Endowment fund|**Unrestricted**
**Funds**
**Endowment**
**Funds**
**2023**
**Total**
**£**
**£**
**£**
35,497
160,000
195,497
242,294
-
242,294
277,791
160,000
437,791
732
-
732
88,813
-
88,813
89,545
-
89,545
(800)
-
(800)
88,745
-
88,745
366,536
160,000
526,536
366,536
-
366,536
-
160,000
160,000
366,536
160,000
526,536|**2022**
**Total**
**£**
195,497
236,232|
|---|---|---|
|||431,729|
|||733
63,541|
|||64,274
(1,500)|
|||62,744|
|||494,503|
|||334,503
160,000|
|||494,503|
Approved by the trustees and authorised for issue on ………………… Signed on behalf of the trustees by:
R Prest
5
## **THE NANCY DERBYSHIRE TRUST 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS**
## **1 Principal accounting policies**
## **Basis of accounting**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The Nancy Derbyshire Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recorded at cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going Concern**
The Trustees have, at the time of approving these accounts a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. Therefore, the trustees continue to adopt the going concern basis of accounting in the preparation of these accounts.
## **Fund accounting**
Unrestricted funds represent the funds of The Nancy Derbyshire Trust that are not subject to any restrictions regarding their use and are available for application on the general purpose of The Nancy Derbyshire Trust.
Endowment funds are in relation to the properties. These properties are to be held in perpetuity and not to be sold unless the upkeep of the buildings require to do so. Any rental income earned is to be spent on the upkeep of the buildings.
## **Income**
## Income from donations and legacies
Donations and legacies to The Nancy Derbyshire Trust are accounted for as soon as income can be measured and receipt is probable.
## Income from investments
Dividends and interest are accounted for when receivable.
## Income from investment properties
Rental income is accounted for as the service is provided.
## Gains and losses on investments
Realised gains or losses are recognized when investments are sold.
Unrealised gains or losses are accounted for on revaluation of investments at 31 December 2023.
6
## T **HE NANCY DERBYSHIRE TRUST 31 DECEMBER 2023**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1 Principal accounting policies (continued)**
## **Resources expended**
## Expenditure on charitable activities
Activities directly relating to the work of the trust includes both direct expenditure and allocated support costs, including any governance costs relating to the strategic management of the trust. This includes the costs of examination of the financial statements. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **Assets and liabilities**
## Investment Property
Investment properties should be included in the accounts at market value. No valuation of the properties has been included in these financial statements due to the cost of providing that valuation not deemed to be in the best interests of The Nancy Derbyshire Trust.
## Investments
Investments are shown at market value at 31 December 2023.
Realised and unrealised gains and losses are recognised in the Statement of Financial Activities.
## Current assets
Amounts owing to the trust at 31 December 2023 in respect of fees and other income are shown as a debtor.
|**2**
**Donations and Legacies Income**
Legacy- The late Robert Haworth Trust Fund
**3**
**Rental Income**
House rents received
**4**
**Income earned from investments**
National savings income bond
Equities investment fund for Charities
Alliance trust plc
Foreign and colonial investment trust|**2023**
**2022**
**£**
**£**
6,729
**-**|
|---|---|
||**2023**
**2022**
**£**
**£**
23,940
23,978|
||**2023**
**2022**
**£**
**£**
-
-
6,760
6,037
423
504
299
284|
||7,482
6,825|
7
## T **HE NANCY DERBYSHIRE TRUST 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS**
|**6**
**Investment Properties**
**2023**
**2022**
**£**
**£**
Valuation brought forward as at 1 January 2023
195,497
195,497
Property improvements in the year
**-**
**-**
Valuation carried forward as at 31 December 2023
195,497
195,497
Due to the costs that would be involved in obtaining a valuation of the properties each year
compared to the benefit this would provide, the Trustees continue to include the investment
properties at previous valuations.
**5**
**Expenditure on charitable activities**
**2023**
**£**
**2022**
**£**
Garden maintenance
1,643
2,191
Donations and subscriptions
-
-
Repairs and renewals
5,165
17,484
Insurance
1,504
1,442
Utility costs
1,237
1,668
Bank charges
70
65
Professional services
831
189
Accountancy services
830
780
Management charges
900
600
12,180
24,419||**2023**
**£**
195,497
**-**
**2023**
**£**
1,643
-
5,165
1,504
1,237
70
831
830
900
12,180|**2023**
**£**
1,643
-
5,165
1,504
1,237
70
831
830
900|**2022**
**£**
2,191
-
17,484
1,442
1,668
65
189
780
600|
|---|---|---|---|---|
||||12,180|
24,419|
|||195,497|||
## **7 Investments**
|**Investments**||
|---|---|
|Investments b/fwd at market value 01.01.23
Additions
Disposals
Movement in market value in year
Investments c/fwd at market value 31.12.23|**At Market**
**Value**
**At Cost**
**2023**
**Total**
**2022**
**Total**
**£**
**£**
**£**
**£**
216,232
20,000 236,232
243,663
-
-
-
-
-
-
-
-
6,062
-
6,062
(7,431)|
||222,294
20,000 242,294
236,232|
The investments figure above is broken down into the following individual investments:
|6,680 M+G Charifund Income Units EIFC
684 Accumulation Shares NAACIF
11,672 Income Shares NAACIF
1700 Alliance Trust Plc
2,150 Foreign and Colonial Investment Trust|**2023**
**2022**
**£**
**£**
95,857
98,164
76,665
72,183
10,484
10,308
18,734
16,133
20,554
19,444|
|---|---|
||222,294
216,232|
8
## T **HE NANCY DERBYSHIRE TRUST 31 DECEMBER 2023 NOTES TO THE FINANCIAL STATEMENTS**
|**9**
**Cash at bank**
Bank current account
**10 Creditors: amounts falling within one year**
Accruals
**8**
**Debtors**
Prepayments||**2023**
**2022**
**_£_**
**£**
88,813
63,541
**2023**
**2022**
**£**
**£**
732
733
732
733|
|---|---|---|
||||
||||
|||88,813 63,541|
|||**2023**
**2022**
**£**
**£**
800
1,500|
|||800 1,500|
## **11 Analysis of funds**
The analysis and movement of funds (unrestricted and endowment funds) are shown in the Statement of Financial Activities. The terms of the endowment fund are that the fund cannot be realised to fund day to day activities. The fund is to be held in perpetuity.
## **12 Trustees**
No Trustees, nor any person connected with them, have received any remuneration from the charity during the year.
## **13 Related party transactions**
There were no related party transactions during the year.
9