HARRY SKELLS ESTATE TRUST TRUSTEES REPORT 31ST MARCH 2023 THE CHAIUTY The objects ofthe charity al'e.. The provi8ion of i)ai'li%' and reei'cational ￿'0[Ind8 for tlie use, benefit and advantage of the inl)abilants of Stainfoid. The improveinent of stt-cets and roads within Stamfoi-d. The impi'ovement of the appeai'ance, utility and ainenity ot-buildings, walls, lamp posts, fences and othei. sts-uctui'es aiid of pat'ks, car parks, bus stations and otliei. open spaces in Siamfoi'd. The Flai'ry Skells Estate Tiiist is constitutcd undei. tlie will of the late 14ariy Skells of Stamfoi-d. The charity is riin by a boai'd of Tnistecs who Are Councilloi's of Staimford Town Council undei. the chaiimanship of the Towii Mayoi.. Tlie Trustees duriiig the ye¢ir ended 31, March 2023, togethei with any cbanges since 31., Mai'ch 2022 iu'e set out on page 3. Aiiy cnquires regJai'diiig Ilie Chdl'ity sliould be addi"esscd to tl)e Town Clei'k of Stsinfoi'd who is clei'lc to thc Charity- Flci. name and contact address arc shown on page 4. The Charity Commission nuniber is 239573. REVIEW OF THE YEAR The income of the Trnst is derived from the original endowment fund iindei. the will of the late Hany Skells and inl'ei-est elc fi'oni uiispenl income. Tlie incoiiie was £32,585.55 foi. the yeaL'. Diii'ing the yeai. the Trust approved grants totalling £37,405.37 and spent £1,739.89 on ,8t MiLhdel'% Chui'chyard. The total accumulated avail&ble inconie at 3181 Mai'¢li 2023 w2s £17,518.73 after allowing for gi'ants appi'oved bul nol paid etc. RF.SERVES POLICY The TI￿SteeS have no foitnal policy in i'elalion to funds nol distt-ibiited. All grant applications al'e eon8idered on their mei'its and the availabilily of funds. The Ti'uslees are aware that they need to maiiitain uni'esti'ictcd fi-cc icscrvcs at a Icvcl to pi'ovide sufficiciit funds to covei. operating exi)endittii'e. Whilst thc Ti'u8tee8 ean mLel thLlI' euritnl gi'ant obligdlii)ns the level of future gi'ants is dependent upon investmeiit incoine. IIPdgFe HARRY SKLLLS ESTATL I"RUS'r TRUSTEES REPOR'r ST 31 MARCH 2023 RISK POI.TCY 'rhe Ti'ustees al'e aware that the Charity has risk.8 to wliicli it is exposed. They have assessed the vai'ious I'i%lcs the Chai'ily faces and a repoi't has been produced setting out these rislcs Lind the steps talcen to Icssen tliem. The Trustees will continiie to monitoi. and i'eview the i'isks, as they deein appi'opriate. Andrcw ci.oft Cliaii- of the Tii]stces 21Page HARRY SKELLS ESTATE TRUST TRUSTEES 31ST MARCH 2023 Slie J Saiidall Jolin Dawson Hai-i'ish Bisnauthsing Bob Sandall Brenda-Rae CJl'i(fin Sheila Sismoi'e Gloria Jolinson Duvid Taykor Andi"cw Cioft Steve Cari'oll David Doi'8on Mai'ion Pitt Amanda Wl)eeler Angela Carler-Begbie Elaine Hoopei. Shaun Ford Simon Fenn Joanna Wintei-boiirne 31Pdge IIARRY SKEI LLS ESTATI TRUS'r OTr FJCJALS 31S'f IMARCH 21123 TREASIJRER Carl Midgley CTax Management 13 Locks Cluse Dccping St Jaines Pelei'boi'ough Cainbs PF6 8RA SFCRETARY TO THF TRUSTFES Mi's P Stuarl-mogg Town Clei'k Town Hall Siamfoi'd Lincolllshii'e PE9 2DR INDEPENDEN'T EXAMINER Michelle Feasey MiLhellc Feasey & Co Ltd Cliaitei-cd Accountants I West Stt'eet Stamford Lin¢olnshire BANKERS Lloyds TSB Stamford Branch 65 High Streel Stainford Lineolnshii'e PE9 2AT 41Pdge SCHEDIJLF..S OF ASSET% 318.1. MARC.H 2023 HARRY SKELLS ESTATE TRUST RECEIPTS AND PAYMENTS ACCOUNTS FOR YEAR ENDED 31ST MARCH 2023 2022 2023 Received Investment Income 31,226.39 Dividends on COIF 16.60 Interest £ 31,851.97 733.58 31,242.99 32,S85.55 Payments Charitable Payments Grants approved in previous years and 8,125.71 paid 14,908.00 Grants approved in year and paid 1,820.91 St Michael's Churchyard costs 24,854.62 £ 18,750.82 £ 31,937.96 £ 1,739.89 E 52,428.67 Administrative Expenses 600.00 Treasurer Stèmford Town Council 680.00 Clerk 240.00 Independent examiner's fees Trustees remuneration and expenses 325.00 441.37 240.00 1,520.1)0 26,374.62 £ 1,006.37 53,435.04 4,868.37 Exce55 receipts over payments -£ 20,849.49 Balance in hand at beginnino of the £ 73,842.26 year 78,710.63 £ 78,710.63 Balance in hand at end of year 57,861.14 51Pag7e SCHEDULES OF ASSEI TS 31ST MARCH 2023 SCHEDULE OF ASSETS AND LIABILITIES 31ST MARCH 2023 2022 2023 Endowment Fund Units in COIF Charities Investment £ 1,115,655.00 Fund at market value 1,073,438.00 Deslgnated Funds 40,178.00 St Michael'5 ChLJrchyard lat costl 2,000.00 Picture by Barbara Balmer lat costl 42,178.00 40.178.00 2.000.00 42,178.00 Unrestricted Fufid Units in COIF Charities Investment 22,871.04 Fund at market value 43,895.09 Deposit- COIF 34,815.54 Bank accounts- L1oyds £ 101,581.67 22,005.57 31,330.64 26,530.SO 79,866.71 Llabllltles 11,328.00 Grants approved in year but not paid 16,557.82 Grants approved in earlier years not paid 27,885.82 Total grants unpaid 5,467.41 9,135.00 14,602.41 20,OOD.ao Provision for Churchyard repairs 5,740.00 Independent examiners fee and other expenses ols 53,625.82 20,000.00 5,740.00 40,342.41 Available balance for future expenditure & Grants 78,710.63 Balance at banks 53,625.82 Less liabilities 25,084.81 57,861.14 40,342.41 17,518.73 61PagyL Note to Accounts Note to Accounts Year ended 31st March 2023 i) Grants approved during the year Stamford Ameteur Boxing (Blfl River Wellan Trudt Stamford Mi11stream Frank Newbon Outdoor Gym Equipment Blackstones Junior Football Club Brownes Hospital Stained Glass Window further grant Community Orchard Group Frlends of Stamford Station 31.37 5,(X)O.00 £ 15,(X)O.00 4,000.00 7,000.00 4,374.00 2,000.00 £ 37,405.37 Made up as follows.. Paid Unpaid 31,938 5,467.41 £ 37,405.37 The accounts wele approved by the TLUStees on 2024 Andi'ew Croft (Chair of the Trustee 71Pagye **HARRY SKELLS ESTATE TRUST** ## **TRUSTEES REPORT** ## **31[ST] MARCH 2023** ## **THE CHARITY** The objects of the charity are: - i) The provision of parks and recreational grounds for the use, benefit and advantage of the inhabitants of Stamford. - ii) The improvement of streets and roads within Stamford. - iii) The improvement of the appearance, utility and amenity of buildings, walls, lamp posts, fences and other structures and of parks, car parks, bus stations and other open spaces in Stamford. The Harry Skells Estate Trust is constituted under the will of the late Harry Skells of Stamford. The charity is run by a board of Trustees who are Councillors of Stamford Town Council under the chairmanship of the Town Mayor. The Trustees during the year ended 31[st] March 2023, together with any changes since 31[st] March 2022 are set out on page 3. Any enquires regarding the Charity should be addressed to the Town Clerk of Stamford who is clerk to the Charity. Her name and contact address are shown on page 4. The Charity Commission number is 239573. ## **REVIEW OF THE YEAR** The income of the Trust is derived from the original endowment fund under the will of the late Harry Skells and interest etc from unspent income. The income was £32,585.55 for the year. During the year the Trust approved grants totalling £37,405.37 and spent £1,739.89 on St Michael’s Churchyard. The total accumulated available income at 31[st] March 2023 was £17,518.73 after allowing for grants approved but not paid etc. ## **RESERVES POLICY** The Trustees have no formal policy in relation to funds not distributed. All grant applications are considered on their merits and the availability of funds. The Trustees are aware that they need to maintain unrestricted free reserves at a level to provide sufficient funds to cover operating expenditure. Whilst the Trustees can meet their current grant obligations the level of future grants is dependent upon investment income. **1 |** P a g e **HARRY SKELLS ESTATE TRUST** ## **TRUSTEES REPORT** **31[ST] MARCH 2023** ## **RISK POLICY** The Trustees are aware that the Charity has risks to which it is exposed. They have assessed the various risks the Charity faces and a report has been produced setting out these risks and the steps taken to lessen them. The Trustees will continue to monitor and review the risks, as they deem appropriate. ……………………………….. Andrew Croft Chair of the Trustees Date……………….. 2024 **2 |** P a g e ## **HARRY SKELLS ESTATE TRUST** ## **TRUSTEES** **31[ST] MARCH 2023** Sue J Sandall John Dawson Harrish Bisnauthsing Bob Sandall Brenda-Rae Griffin Sheila Sismore Gloria Johnson David Taylor Andrew Croft Steve Carroll David Dorson Marion Pitt Amanda Wheeler Angela Carter-Begbie Elaine Hooper Shaun Ford Simon Fenn Joanna Winterbourne **3 |** P a g e ## **HARRY SKELLS ESTATE TRUST** ## **OFFICIALS** ## **31[ST] MARCH 2023** ## **TREASURER** Carl Midgley CTax Management 13 Locks Close Deeping St James Peterborough Cambs PE6 8RA ## **SECRETARY TO THE TRUSTEES** Mrs P Stuart-Mogg Town Clerk Town Hall Stamford Lincolnshire PE9 2DR ## **INDEPENDENT EXAMINER** Michelle Feasey Michelle Feasey & Co Ltd Chartered Accountants 1 West Street Stamford Lincolnshire ## **BANKERS** Lloyds TSB Stamford Branch 65 High Street Stamford Lincolnshire PE9 2AT **4 |** P a g e **SCHEDULES OF ASSETS 31ST MARCH 2023** ## **HARRY SKELLS ESTATE TRUST** ## **RECEIPTS AND PAYMENTS ACCOUNTS FOR YEAR ENDED 31ST MARCH 2023** |**2022**
Received
Investment Income
£ 31,226.39 Dividends on COIF
£ 16.60 Interest
£ 31,242.99
Payments
Charitable Payments
£ 8,125.71
Grants approved in previous years and
paid
£ 14,908.00 Grants approved in year and paid
£ 1,820.91 St Michael's Churchyard costs
£ 24,854.62
Administrative Expenses
£ 600.00 Treasurer
£ - Stamford Town Council
£ 680.00 Clerk
£ 240.00 Independent examiner's fees
£ - Trustees remuneration and expenses
£ 1,520.00
£ 26,374.62
£ 4,868.37 Excess receipts over payments
£ 73,842.26
Balance in hand at beginning of the
year
£ 78,710.63 Balance in hand at end of year|£ 18,750.82
£ 31,937.96
£ 1,739.89|**2023**
£ 31,851.97
£ 733.58|

£ 32,585.55


£ 53,435.04| |---|---|---|---| |||


£ 52,428.67





£ 1,006.37|| ||£ 325.00
£ -
£ 441.37
£ 240.00
£ -||| ||||| ||||| ||||-£ 20,849.49
£ 78,710.63| ||||£ 57,861.14| **5 |** P a g e ## **SCHEDULES OF ASSETS 31ST MARCH 2023** ## **SCHEDULE OF ASSETS AND LIABILITIES 31ST MARCH 2023** ## **2022** ## **2023** ## **Endowment Fund** |Units in COIF Charities Investment
£ 1,115,655.00 Fund at market value
**Designated Funds**
£ 40,178.00 St Michael's Churchyard (at cost)
£ 2,000.00 Picture by Barbara Balmer (at cost)
£ 42,178.00
**Unrestricted Fund**
Units in COIF Charities Investment
£ 22,871.04 Fund at market value
£ 43,895.09 Deposit - COIF
£ 34,815.54 Bank accounts - Lloyds
£ 101,581.67
**Liabilities**
£ 11,328.00 Grants approved in year but not paid
£ 16,557.82 Grants approved in earlier years not paid
£ 27,885.82 Total grants unpaid
£ 20,000.00 Provision for Churchyard repairs
£ 5,740.00 Independent examiners fee and other expenses o/s
£ 53,625.82
**Available balance for future expenditure & Grants**
£ 78,710.63 Balance at banks
£ 53,625.82 Less liabilities
£ 25,084.81|£ 1,073,438.00| |---|---| ||£ 40,178.00
£ 2,000.00| ||£ 42,178.00| ||£ 22,005.57
£ 31,330.64
£ 26,530.50| ||£ 79,866.71| ||£ 5,467.41
£ 9,135.00| ||£ 14,602.41| ||£ 20,000.00
£ 5,740.00| ||£ 40,342.41| ||£ 57,861.14
£ 40,342.41| ||£ 17,518.73| **6 |** P a g e **Note to Accounts** ## **Note to Accounts Year ended 31st March 2023** |1)
Grants approved during the year
Stamford Ameteur Boxing (B/f)
River Wellan Trudt Stamford Millstream
Frank Newbon Outdoor Gym Equipment
Blackstones Junior Football Club
Brownes Hospital Stained Glass Window further grant
Community Orchard Group
Friends of Stamford Station
Made up as follows:
Paid
Unpaid|£ 31.37
£ 5,000.00
£ 15,000.00
£ 4,000.00
£ 7,000.00
£ 4,374.00
£ 2,000.00| |---|---| ||£ 37,405.37| ||£ 31,938
£ 5,467.41| ||£ 37,405.37| The accounts were approved by the Trustees on 2024 Andrew Croft (Chair of the Trustees) **7 |** P a g e Michelle Feasey & Co Limited Cftar!cred Accountant & Cha rtered Tax A%sors 1 West Street Business Park West Street Stamford PE9 2PL t: 01780 751115 01780481805 e. mfeasey@teaseyaccounts co uk ## Independent Examiners report to the Trustees of the Skells Trust I report on the accounts for the trust for the year ended 3 1 st March 2023, which are set out on the following pages. This report is made solely to the trustees in accordance with Section 145 ofthe Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiners report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees for my examination work. ## 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 of the Charities Act 2011 (the Act)), and that an independent examination is needed. ## It is my responsibility to: - examine the accounts (under section 145 of the Act); - to follow the procedures laid down in the General Directions given by the Charities Commissioners (under section 145(5)(b) of the Act); and - to state whether particulars 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 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 represent 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, - I which gives me reasonable cause to believe that in, any material respect, the requirements o to keep accounts records in accordance with Section 130 of the Charities Act; and o to prepare accounts which record with the accounting records and comply with the accounts requirements of the Charities Act have not been met, or - 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Michelle Feasey FCA I West Street Business Park West Street Stamford Lincolnshire PE9 2PL 27th January 2024 Director: Michelle A. E. Feasey Company Secretary: Niall McOuitty vat Registration No. 793 3980 79 Registered in England No: 4462491 **----- Start of picture text -----**
CHARTERED
ACCOUNTAN'S
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