Charity of John Scott
Charity number 239895
Annual Report and Financial Statements
for the year ended 31 March 2021
Charity of John Scott
Annual Report and Financial Statements for the year ended 31 March 2021
| Contents | Page |
|---|---|
| Trustees' report | 2 to 3 |
| Examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 to 11 |
Prepared by West Yorkshire Community Accounting Service
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Charity of John Scott
Trustees' report for the year ended 31 March 2021
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates
Name Position Dates Revd. Christopher Buckley Chair Suzanne Wildridge Secretary Simon Dean Treasurer Resigned August 2020 Judith Davies Michael Wood Charity number 239895 Registered in England and Wales Registered and principal address The Vicarage 30 Low Grange View Leeds LS10 3DT Bankers Virgin Money 1 The Penny Hill Centre Church Street Hunslet Leeds LS10 2AP Independent examiner Stephen Procter West Yorkshire Community Accounting Service Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity was registered on 15 February 1965 and is governed by a scheme adopted on 28 July 1976.
Method of recruitment and appointment of trustees
The trustees of the charity are appointed by the members at the AGM.
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Charity of John Scott
Trustees' report (continued) for the year ended 31 March 2021
Objectives and activities
The charity's objects
Almshouses for poor persons of good character who are not less than 50 years of age. The benefit of the Almspeople as the trustees think fit.
The charity's main activities
Running ten Almshouses - Low rental housing from the John Scott bequest.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit.
Achievements and performance
During the past year the impact of the Covid pandemic meant that it was not possible to move new residents into the Almshouses. As a result, three properties were vacant in excess of six months.
A programme of repair work on the properties was undertaken during the year.
In September 2020 the trustees engaged Mulbery PM, a York based Property Management Company with wide experience in the management of Almshouses, and they have undertaken a review into all aspects of the management of the Charity of John Scott making recommendations which the Trustees have been happy to approve.
Financial review
Net expenditure for the year was £22,770, including net expenditure of £37,969 on unrestricted funds and net income of £15,199 on restricted funds.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £62,342. The charity currently has not adopted a formal reserves policy.
Signed on behalf of the board of trustees on 27/01/2022
The Revd A C N Buckley (Trustee)
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Charity of John Scott
Independent examiner's report to the trustees of Charity of John Scott
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021, which are set out on pages 5 to 11.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
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3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stephen Procter
27/01/2022
West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
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Charity of John Scott
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2021
| Notes 2021 Unrestricted funds £ Income from: Charitable rental income 30,597 Dividends received 483 Total income 31,080 Expenditure on: Insurance 1,099 Cleaning and garden maintenance 3,928 Repairs 61,401 Agent fees 3,500 Independent examination 540 Stationery and software - TV Licence 7 Council Tax for Empty Houses - Memberships and subscriptions 182 Telephone 76 Security 306 Survey 210 Total expenditure 71,249 Net gains/(losses) on investments 2,200 Net income / (expenditure) (37,969) Fund balances brought forward 131,158 Fund balances carried forward (2) 93,189 |
2021 Restricted funds £ - 2,469 2,469 - - - - - - - - - - - - - 12,730 15,199 53,450 68,649 |
2021 Total funds £ 30,597 2,952 33,549 1,099 3,928 61,401 3,500 540 - 7 - 182 76 306 210 71,249 14,930 (22,770) 184,608 161,838 |
2020 Total funds £ 36,939 484 37,423 1,224 3,658 6,462 4,999 540 530 - 108 179 120 1,920 3,622 23,362 (11,106) 2,955 181,653 184,608 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Charity of John Scott
Balance sheet
| as at 31 March 2021 2021 Unrestricted £ Fixed assets Tangible assets (3) 30,847 Investments (4) 11,875 Total fixed assets 42,722 Current assets Prepayments (5) 381 Cash at bank and in hand (6) 50,626 Total current assets 51,007 Current liabilities: amounts falling due within one year Accruals (7) 540 Total current liabilities 540 Net current assets 50,467 Total assets less current liabilities 93,189 Net assets 93,189 Funds Unrestricted funds 93,189 Restricted funds - Total funds 93,189 |
2021 Restricted £ 68,511 68,511 - 138 138 - - 138 68,649 68,649 - 68,649 68,649 |
2021 Total £ 30,847 80,386 111,233 381 50,764 51,145 540 540 50,605 161,838 161,838 93,189 68,649 161,838 |
2020 Total £ 30,847 62,988 93,835 337 91,516 91,853 1,080 1,080 90,773 184,608 184,608 131,158 53,450 184,608 |
|---|---|---|---|
The financial statements were approved by the board of trustees on 27/01/2022
The Revd A C N Buckley (Trustee)
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Charity of John Scott
Notes to the accounts
for the year ended 31 March 2021
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Investments
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Ten Almshouses at 1-10 Middleton Road, Leeds: The freehold property is shown at cost less any provision for impairment. No depreciation is charged on the basis that the residual value is at least equal to the stated cost.
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Charity of John Scott
Notes to the accounts
for the year ended 31 March 2021
1 Accounting policies continued
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
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Charity of John Scott
Notes to the accounts continued
for the year ended 31 March 2021
| 2 3 **4 ** |
Restricted funds Balance b/f Incoming Outgoing Transfers Balance c/f £ £ £ £ £ Extraordinary Repairs Fund 53,450 15,199 - - 68,649 53,450 15,199 - - 68,649 Fund name Purpose of restriction Extraordinary Repairs Fund Tangible assets Total Cost £ £ At 1 April 2020 30,847 30,847 Additions - - At 31 March 2021 30,847 30,847 Depreciation At 1 April 2020 - - Charge for year - - At 31 March 2021 - - Net book value At 31 March 2021 30,847 30,847 At 31 March 2020 30,847 30,847 Fixed assets investments £ Carrying (market) value at beginning of year 62,988 Add: additions to investments at cost (dividends re-invested) 2,469 Less: disposals at carrying value - Add / (deduct): net gain / (loss) on revaluation 14,929 Carrying (market) value at end of year 80,386 Breakdown of investments agreeing with SOFA and Balance sheet Analysis of investments Market value Income in at year end the year £ £ Investments listed on a recognised stock exchange, funds or trusts 80,386 2,952 Total 80,386 2,952 This fund was established for the purpose of providing for repairs, improvement or rebuilding of the Almshouses. The fund is comprised of shares in the National Association of Almshouses Common Investment Fund (NAACIF). The incoming amount relates to the increase in the value of the investment in the year and dividends re-invested. Freehold land and |
|---|---|
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Charity of John Scott
Notes to the accounts continued
for the year ended 31 March 2021
| 5 Prepayments Prepayments 6 Cash at bank and in hand Virgin Money current account 7 Accruals Accruals |
2021 £ 381 381 2021 £ 50,764 50,764 2021 £ 540 540 |
2020 £ 337 337 2020 £ 91,516 91,516 2020 £ 1,080 1,080 |
|---|---|---|
8 Related party transactions
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
Trustee expenses
No trustee received any expenses during this year or the previous year.
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Charity of John Scott
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2021
| 2021 2020 Unrestricted Unrestricted funds funds £ £ Income Charitable rental income 30,597 36,939 Dividends received 483 484 Total income 31,080 37,423 Expenditure Insurance 1,099 1,224 Cleaning and garden maintenance 3,928 3,658 Repairs 61,401 6,462 Agent fees 3,500 4,999 Independent examination 540 540 Stationery and software - 530 TV Licence 7 - Utilities - - Council Tax for Empty Houses - 108 Memberships and subscriptions 182 179 Telephone 76 120 Security 306 1,920 Survey 210 3,622 Total expenditure 71,249 23,362 Net gains/(losses) on investments 2,200 (2,094) Net income / (expenditure) (37,969) 11,967 Fund balances brought forward 131,158 119,191 Fund balances carried forward 93,189 131,158 |
2021 Restricted funds £ - 2,469 2,469 - - - - - - - - - - - - - - 12,730 15,199 53,450 68,649 |
2020 Restricted funds £ - - - - - - - - - - - - - - - - - (9,012) (9,012) 62,462 53,450 |
2021 Total funds £ 30,597 2,952 33,549 1,099 3,928 61,401 3,500 540 - 7 - - 182 76 306 210 71,249 14,930 (22,770) 184,608 161,838 |
2020 Total funds £ 36,939 484 37,423 1,224 3,658 6,462 4,999 540 530 - - 108 179 120 1,920 3,622 23,362 (11,106) 2,955 181,653 184,608 |
|---|---|---|---|---|
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