THE NANCY DERBYSHIRE TRUST AccouNfs FOR THE YEAR ENDED 31 DECEMBER 2024 Charity Registration No. 237996 THE NANCY DERBYSHIRE TRUST LIST OF PROFESSIONAL ADVISERS: Independent Eiaminer. Helen Binns Menzies LLP The Beehive Lions Drive BlackburD BBI 2QS Solicitors: Foths 73 Nortbgate Blackburn BB2 IAA Bankers: HSBC Bank plc 60 Church Street Blackburn BBI SAS THE NANCY DERBYSHIRE TRUST Contents Page Trusiees, Annual Report Indepen(knt Examin¢r's Report Statement of Financial Activities Balan(z Sheet Notes to the Financial Statements THE 1¥4ANCY DERBYSHIRE TRUST TRUSTEES. ANNUAL REPORT The Trustee5 pr￿ent their annual report for the year ended 31 December 2024. Principal aims and objective5= The irnst was established under a Tnst deed dated 26 August 1893. Its objects are to provide Almshouses for poor persons of g¢)od cbaracter who have resided within the borough for at least 5 years. Any residue of income may be distributed amongst other similar people. Maln adfivltles, achievements financial performance: During the period Ullder review, the rents received by the trust amounted to £29.720 (2023: £23,940) and all other iocome received was fro￿ investments. Legal and Adminlstrative infonnation: The llame of the charity is The Nancy Derbyshire TrusL The Charities Registration number is 237996. The prcmises of the Trust are the Almshouses. St SiIas' Rorf Blackbum but all correspondence should be addressed to Adam Bromley at Forbes Solicitors. 73 Northgate. Blackbum BB2 IAA. The names of the tn￿tee$ who served during the year were as follows:_ R Prest V Edge J P DI￿an S Jolly A J Bromley DWKemp The power of appointing new trust￿ is exercisable by all existing trustees. The Trustees have itivested certain of the T￿￿t'S Funds into a range of inve5ttn¢nts as detsiled in Note 7 to the accounts. The matket value of the investments increased by £14.680 (2023: £6,062 increase) during the year. Reserves Policy Unrestiicted funds are needed: to prod￿¢ snvestment income sufficient to cover the Tn]st's nornlal level of expenditure and to maintain a ¢olltingency reserve to safeguard the Trust in the event of unforeseen ¢ir¢umstance& The level of reserves is monitored and reviewed by the Tnwees amiually. The trus¢ has an Endowment Fund of £160,0(K) (2023: £160,IrfM)). THE NANCY DERBYSHIRE TRUST TRUSTEES. ANI¥UAL REPORT (CONT) Stydtement of trustees, respon$lbllltles The tNstees of The Nancy Derbyshire Twst havc pleasure in presenling their Report and Financial Statements for the year ended 31 December 2024. The fmancial sta￿ents comply with the stateD￿nt of Recornmended Practice- Accounting and Reporting by Charities. The law applicable to charities in England and Wales requires the trnstees to prepare statements of account for each fmancial year. which give a true and fair view of the charity's fillancial activities during the year and of its financial position al the end of thc year. ID preparing financial statements giving a trne and fair view, the tn￿teeS should follow best practicc and: (a) (b) (c) Select suitable accounting policies and apply them consistently. Make judgements and estirnates that are reasonable and prndent. State whether applicable accounting standards and statements of Tecommended practice have been followed, subject to any departures dI￿10$¢d and explained ID the fll]ancial slatements. and Prepare the fmancial statemeuts on the going concern basis unless it is inappropriate to presume that the charity will ￿ntinue in operation. (d) The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to &scertain the financial position of the charity which enable them to ensure that the financial staiements comply with the Charity (Accounts and Reports) Regulations 201Y). They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detcction of fraud and other irregularities. Th¢ tnJstc¢s are also responsible for ail trnst finance, its managejnent and contml. Th¢se responsibilities include". (a) Keeping "Proper accounting records" which are sufficient lo show and explain all the trust's transactions and must include a tecord of all rel￿ant assets and liabilitie5. Ib) Ensuring that the finances of the t￿￿t are under its control and only delegated if the trust can ensure that its wishcs will be followe(t (c} Preparing annual financial statements and ryorL which shall be presented to the tyustees in accordance with the requtrernents of the trust deeds. PUBLIC BENEFIT The trustees confirrn that they have fff¢Tred to the guidance contained in the Charity Con)mission's general guidance on public benefit when reviewing the tDJsl's aims and objectives and in plamiing funre activities Approved by the trustees and signed on their behalf: Signed.. R Prest THE NANCY DERBYSHIRE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE NANCY DERBYSIURE TRUST I report on the accounts of the Tn￿1 for the year ended 31 December 2024. which a￿ set out on pages 4 to Respective r¢sponslbllities of trnstees and ￿￿mIller The charity's tn￿teeS are resw>nsibl¢ for the pr¢parntion of the accounts. Th¢ charity's trnstees Consider that an audit is not required for this year under section 144 (2) of the Charities Act 2011 (tbe 2011 Act) and that an independent examinthon is needed. It is my responsibility to- exa￿1￿¢ th¢ accounts under section 145 of the 201 l Acl to follow the procedures laid down in the geDerdl Directions given bythe Charity Commission under section 145 (5)(b) of the 2011 Act" and to state whether partiC￿ar matter5 have co￿¢ to my attention. Basis of Independent examiner's report My examinalion 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 tTr￿teeS concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opiniou is given as lo whether the accounts present a 'true and fair vi¢w' and the report is limited to those matters set out in the statement below. Independent examiner's statement In COnn￿tIon with my examination, no rnatler has come to my attcntion: Which gives me reasonable cause to believe that in any rnaterial respect the requirements lo keep accounting records in accordance with section 130 of the 2011 Act. and to prep&￿e accounts which accord io the accounting records aJMI to comply with the accounting requiremellts of the 2011 Act hav¢ not be¢n 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 Menzies LLP The Beehive Lions Drive Bdlckburn BBI 2QS Dated.. THE NANCY DERBYSHIRE TRUST sTATEmE￿r OF FINANCIAL AcfiviTIES FOR THE YEAR ENI DED 31 DECEMBER 2024 2024 2023 Note Ineome and Endoivments Unrestrieted Endo￿ne0t Totsl Funds Funds Unrestricted Endowment Funds Funds Total lllcorne Donations 6.729 6,729 23,940 7,482 Rental income 29.720 29.720 8.011 23.940 Inveslment income 8.011 7.482 Tot81 8.011 29.720 37.731 14211 23,940 38.151 Expenditure: Charitable aclivitics (7563) (31.143) (38.7( {7.015} (5,165) (12,180) Net Incomlhg I (outgoing) resources before other gains 448 (J,423) (975) 7,196 18.775 25,971 TTaDsfeTS between ￿ndS (1.423) 1.423 18,775 (18.775) Net unrealised gain on investments 14.680 14.680 6.062 6.062 Net movement in fuDds 13.705 13.705 32.033 32,033 Re¢on¢iliatio of fund$ To￿1 funds brought fonvard Totsl funds carried forward 366.536 1(A).0￿ 526.536 334.503 160,000 494.503 380241 160.000 540 41 366 536 160 000 526 536 There ate llo rEcogtLi5ed gaiThs or lossts in 2024 or 2023 other net InovemeDts in fuod8 for the year. The n¢)tes on pages 6 to 9 forni part of thexe ¥ccoun THE NANCY DERBYSHIRE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 Unrestricted Endo)vment Funds Funds 2024 Total 2023 Total Note Flxed assets Investment property Investments 35,497 256.974 292,471 160,0(M) 195,497 256.974 452,471 195,497 242,294 437,791 160,(MX) Current assets Debtors Cash at bank 743 87,867 88,610 743 87.867 88,610 732 88,813 89,545 Liabilities CreditOL8: amounts falling within one year Net Current As$ets Total Assets less Current LfiabilRties 10 (840) (840) (800) 87,770 87,770 88,745 380 241 160.IXX) 540 241 526 536 The funds of the ¢harity: Unrestricted income funds Endowment fund 380241 380,241 366,536 160.0(X) 160,0(KI 160,000 540,241 160.000 526,536 380241 Approved by tbe trustees and authorised for issue on ........... Signed on behalf of the trustees by: R Prest THE NANCY DERBYSHIRE TRUST 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMEfiTS Prineipal accounting policles 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 l 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 tu¢¢ts the definition of a public benefit entity Under FRS 102. A&sets and liabilitics are initially rccorded at cost or transaction value unless otherwise Stated in the relevant a¢wunting policy notes. Going Concern The Trustees have, at the time of approving these accounts a Teasonable 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 prepaTpAtion of these accounts. und aeeounting Unrestricted fun&ts repr￿nt the fimds of Th¢ Nancy Derbyshire Trnst that are Dot subject to any restrictions regarding their use and are available for application on the general pu4)ose of The Nancy Detbyshire Trust. Endowment fimds ate in relation to the properti&8. Theseproperties are to be held in perpetuity and not to b¢ sold unless the upkeep of the buildiDgs require to do so. Any rentsl income earned is to be spent on the upkeep ot the buildings. Income Income from donations and le a¢ies Donation5 and legacies to The Nancy Derbyshire Ttust are accounted for as soon as income can be measured and receipt is probable. Income from inv ents Dividends and interest are accounted for wben receivable. Inc from investment Rental income is accounted for &5 the service is provide(L Gains and losse vestments Realised gain5 or losses are tecognized when invesknents are sold. Unrealised gains or10&8es are accounted for on revaluation of investments at 31 December 2024. THE NAI%CY DERBYSHIRE TRUST 31 DECEIMBER 2024 NOTES TO THE FINANCIAL STATEMENrs I PrincRpAI Accountlng policies (continued) Resources expended nditure on ¢harttable activiti Activities directly relaLing to the work of tbe includes direct expenditure and allocated support costs, including any governance costs relating to the strategic maDagement of the ttust. 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 liablllties Investment Pro Investment properties should be included ill the accounts at market value. No valuation of the properties has been included in these financial ststements due fo the cost of providing that valuation not deemed to be in tILe best interests of The NaDCy Detbyshire TrusL Investments are shown at market value at 31 December 2024. Realised and unTealised gaiD5 and losses are rccognised in the Statement of Financial Activities. nl ass Amounts owing to the tNst at 31 December 2024 in r• of fees and other income are shown as a debtor. Donations ￿g￿elle5 Income 2024 2023 Legacy- The late Robert Haworth Trust Fund 2024 2023 Rental Income House rents received 2024 2023 Income earned from inve5tmeDts Equities investment fiuMI for Charities Alliance irusl plc Forei£n and colonial investTnent tn 7,239 6,760 423 299 325 TItE NANCY DERBYSHIRE TRUST 31 DECEMBER 2024 NOTES TO THE FINANCtAL STATEMENTS Expenditure on charitsble activities 2024 2023 Garden maintenance RcpaiTS and rcncwais tnsurance utility costs Bank charges Professional services Accountsncy services Management charges 2,739 31,143 1,514 I,782 72 1,643 5,165 1.504 1,237 70 831 830 900 12,180 856 600 38,706 Investment Propertie Valuation brought forward as at l January 2024 Property impmvements in the year 195,497 195,497 Valuation carried fonvard as at 31 December 2024 195 497 Due to the cosls that would be involved in obtaining a valuation of thc PToperties eath year ompared to the benefit this would provide. the TnL8tees ¢oDtinue to include the inveslment properties at previous Valuatio￿8. 195.497 Investments At Market Value 2024 Tot81 2023 Total At Cost Investments blfivd at market value 01.01.24 Additions Disposals Movement in market value in year IDveslments dfwd at market value 31.12.24 222294 20,OW 242,294 236,232 14.680 236.974 6.062 20 (XM) 256 974 242 294 The investtnents figure above is broken down into the following individual investments: 2024 2023 6.680 M+G Charifund incom¢ Units EIFC 684 Accumulation Shares NAACIF 11,672 Incomc Sbares NAACIF 1700 Alliance Tn￿t PIC 2,150 Forei￿ atMI Colonial Investment Trust 98.356 82.813 10,835 21,148 95,857 76,665 10,484 18,734 20,554 222 294 THE NANCY DERBYSHIRE TRUST 31 DECEMBER 2024 IW40TES TO THE FINANCIAL STATEhlENrs Debtors 2024 2023 Prepaymenis 743 732 743 732 9 Cash at bank 2024 21123 Bank cu￿ent account 87,867 88.813 87.867 88.813 10 Creditors: amounts falling Ivithin one year 2024 2023 Accruals 840 800 840 800 11 Analysi$ of funds The analysis and movement of fimds (unresiricted and endowrnent funds) are shown in the Ststement of Financial Activities. The tern)s of the endowm¢nt fi￿d ar¢ that th¢ fimd be realised to fimd day to day actAvities. The fimd is to be held in perpetuity. 12 Trustee5 No Tnlstees. nor any pcrson connected with thenL have received any remuneration from the tharity during the year. 13 Related party trans&ctlon5 There were no related paty transactions during the year.