Charity of John Scott
Charity number 239895
Annual Report and Financial Statements
for the year ended 31 March 2022
Charity of John Scott
Annual Report and Financial Statements for the year ended 31 March 2022
| 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 Accountancy Service CIO
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Charity of John Scott
Trustees' report for the year ended 31 March 2022
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 Revd. Christopher Buckley Chair Suzanne Wildridge Secretary Judith Davies 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 Accountancy Service CIO 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 2022
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
Nine of the Almshouses were occupied during the year, with two new Almshousepersons were appointed in accord with the rules set out in the Scheme. The Trustees continue to maintain the Almshouses in a good state of repair.
Due to the ongoing Covid restrictions and reluctance of trustees to meet in person, the business of the charity was conducted by electronic communication during the accounting period without face to face meetings.
In this year we continued to engage the services of Mulberry Property Management to care for the day to day maintenance, repairs and ongoing refurbishment of the Almshouses and to administer the appointments of Licensees on behalf of the Board of Trustees.
Financial review
Net expenditure for the year was £15,868, including net expenditure of £23,380 on unrestricted funds and net income of £7,512 on restricted funds.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £26,260. The charity does not have a reserves policy.
Approved by the board of trustees on 23/01/2023
Revd A Chris 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 2022, 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
23/01/2023
West Yorkshire Community Accountancy Service CIO
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 2022
| Notes 2022 Unrestricted funds £ Income from: Charitable rental income 37,845 Dividends received 456 Total income 38,301 Expenditure on: Insurance 1,612 Cleaning and garden maintenance 2,943 Repairs and renovations 47,326 Agent fees 5,500 Independent examination 540 TV Licence 29 Utilities 666 Council Tax for Empty Houses 3,010 Memberships and subscriptions 240 Telephone - Security 17 Survey 462 Sundries 163 Total expenditure 62,508 Net gains/(losses) on investments 827 Net income / (expenditure) (23,380) Fund balances brought forward 93,189 Fund balances carried forward (2) 69,809 |
2022 Restricted funds £ - 1,576 1,576 - - - - - - - - - - - - - - 5,936 7,512 68,649 76,161 |
2022 Total funds £ 37,845 2,032 39,877 1,612 2,943 47,326 5,500 540 29 666 3,010 240 - 17 462 163 62,508 6,763 (15,868) 161,838 145,970 |
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 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Charity of John Scott
Balance sheet
| as at 31 March 2022 2022 Unrestricted £ Fixed assets Tangible assets (3) 30,847 Investments (4) 12,702 Total fixed assets 43,549 Current assets Debtors and prepayments (5) 203 Cash at bank and in hand (6) 28,475 Total current assets 28,678 Current liabilities: amounts falling due within one year Creditors and accruals (7) 2,418 Total current liabilities 2,418 Net current assets 26,260 Net assets 69,809 Funds Unrestricted funds 69,809 Restricted funds - Total funds 69,809 |
2022 Restricted £ - 76,023 76,023 - 138 138 - - 138 76,161 - 76,161 76,161 |
2022 Total £ 30,847 88,725 119,572 203 28,613 28,816 2,418 2,418 26,398 145,970 69,809 76,161 145,970 |
2021 Total £ 30,847 80,386 111,233 381 50,764 51,145 540 540 50,605 161,838 93,189 68,649 161,838 |
|---|---|---|---|
The financial statements were approved by the board of trustees on 23/01/2023
Revd A Chris Buckley (Trustee)
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Charity of John Scott
Notes to the accounts
for the year ended 31 March 2022
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 2022
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 2022
| 2 Restricted funds Extraordinary Repairs Fund Fund name Extraordinary Repairs Fund |
Balance b/f Incoming Outgoing Transfers Balance c/f £ £ £ £ £ 68,649 7,512 - - 76,161 68,649 7,512 - - 76,161 Purpose of restriction 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. |
|---|---|
| 3 **4 ** |
Tangible assets Cost £ At 1 April 2021 30,847 Additions - At 31 March 2022 30,847 Depreciation At 1 April 2021 - Charge for year - At 31 March 2022 - Net book value At 31 March 2022 30,847 At 31 March 2021 30,847 Fixed assets investments Balance b/f Add: additions to investments at cost (dividends re-invested) Add / (deduct): net gain / (loss) on revaluation Carrying (market) value at end of year Breakdown of investments agreeing with SOFA and Balance sheet Analysis of investments Market value at year end £ Investments listed on a recognised stock exchange, funds or trusts 88,725 Total 88,725 Freehold land and |
Total £ 30,847 - 30,847 - - - 30,847 30,847 £ 80,386 1,576 6,763 88,725 Income in the year £ 2,032 2,032 |
|---|---|---|
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Charity of John Scott
Notes to the accounts continued
for the year ended 31 March 2022
| 5 Debtors and Prepayments Debtors Prepayments 6 Cash at bank and in hand Cash at bank 7 Creditors and accruals Creditors Accruals |
2022 £ 203 - 203 2022 £ 28,613 28,613 2022 £ 1,878 540 2,418 |
2021 £ - 381 381 2021 £ 50,764 50,764 2021 £ - 540 540 |
|---|---|---|
8 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this 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 2022
| 2022 2021 Unrestricted Unrestricted funds funds £ £ Income Charitable rental income 37,845 30,597 Dividends received 456 483 Total income 38,301 31,080 Expenditure Insurance 1,612 1,099 Cleaning and garden maintenance 2,943 3,928 Repairs and renovations 47,326 61,401 Agent fees 5,500 3,500 Independent examination 540 540 TV Licence 29 7 Utilities 666 - Council Tax for Empty Houses 3,010 - Memberships and subscriptions 240 182 Telephone - 76 Security 17 306 Survey 462 210 Sundries 163 - Total expenditure 62,508 71,249 Net gains/(losses) on investments 827 2,200 Net income / (expenditure) (23,380) (37,969) Fund balances brought forward 93,189 131,158 Fund balances carried forward 69,809 93,189 |
2022 Restricted funds £ - 1,576 1,576 - - - - - - - - - - - - - - 5,936 7,512 68,649 76,161 |
2021 Restricted funds £ - 2,469 2,469 - - - - - - - - - - - - - - 12,730 15,199 53,450 68,649 |
2022 Total funds £ 37,845 2,032 39,877 1,612 2,943 47,326 5,500 540 29 666 3,010 240 - 17 462 163 62,508 6,763 (15,868) 161,838 145,970 |
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 |
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