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2023-03-31-accounts

Charity of John Scott

Charity number 239895

Annual Report and Financial Statements

for the year ended 31 March 2023

Charity of John Scott

Annual Report and Financial Statements for the year ended 31 March 2023

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 10

Prepared by West Yorkshire Community Accountancy Service CIO

1

Charity of John Scott

Trustees' report for the year ended 31 March 2023

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 Revd. Christopher Buckley Chair Suzanne Wildridge Judith Davies

Charity number

239895 Registered in England and Wales

Registered and principal address Bankers The Vicarage Lloyds Bank plc 30 Low Grange View 16 Market Place Leeds Oldham LS10 3DT OL1 1JG

Independent examiner

Simon Bostrom FCIE 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 trustees at a duly convened meeting.

2

Charity of John Scott

Trustees' report (continued) for the year ended 31 March 2023

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 Almshouses are occupied at time of year-end, with two new Almspeople being appointed in to the properties.

Two full refurbishments within one year, ensuring the properties are of good standard.

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

The net expenditure for the year was £4,211, including net expenditure of £5,063 on unrestricted funds and net income of £852 on restricted funds.

Reserves policy

The charity's free reserves, excluding fixed assets, at the year end were £21,552.

The charity does not have a reserves policy.

Approved by the board of trustees on …………..……...…….

Signed: ………………..…………. (Trustee)

Name: ……………..…..………….

3

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 2023, which are set out on pages 5 to 10.

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:

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.

Signed: …………………………………… Name: Simon Bostrom FCIE

Date: …………………….

West Yorkshire Community Accountancy Service CIO

Stringer House 34 Lupton Street Leeds LS10 2QW

4

Charity of John Scott

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 March 2023

Notes
2023
Unrestricted
funds
£
Income from:
Charitable rental income
41,366
Dividends received
483
Total income
41,849
Expenditure on:
Repairs and renovations
31,179
Cleaning and garden maintenance
4,840
Utilities
1,424
Insurance
1,211
TV Licence
-
Agent fees
4,327
Council Tax for Empty Houses
2,656
Surveys
-
Security
-
Memberships and subscriptions
231
Sundries
122
Independent examination
567
Total expenditure
46,557
Net gains/(losses) on investments
(355)
Net income / (expenditure)
(5,063)
Fund balances brought forward
69,809
Fund balances carried forward
(2)
64,746		 2023
Restricted
funds
£
-
2,756
2,756
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,904)
852
76,161
77,013		 2023
Total
funds
£
41,366
3,239
44,605
31,179
4,840
1,424
1,211
-
4,327
2,656
-
-
231
122
567
46,557
(2,259)
(4,211)
145,970
141,759		 2022
Total
funds
£
37,845
2,032
39,877
47,326
2,943
666
1,612
29
5,500
3,010
462
17
240
163
540
62,508
6,763
(15,868)
161,838
145,970

All incoming resources and resources expended derive from continuing activities.

5

Charity of John Scott

Balance sheet

as at 31 March 2023
2023
Unrestricted
£
Fixed assets
Tangible assets
(3)
30,847
Investments
(4)
12,347
Total fixed assets
43,194
Current assets
Debtors and prepayments
(5)
317
Cash at bank and in hand
(6)
23,881
Total current assets
24,198
Current liabilities:
amounts falling due within one year
Creditors and accruals
(7)
2,646
Total current liabilities
2,646
Net current assets / (liabilities)
21,552
Net assets
64,746
Funds
Unrestricted funds
64,746
Restricted funds
-
Total funds
64,746		 2023
Restricted
£
-
76,875
76,875
-
138
138
-
-
138
77,013
-
77,013
77,013		 2023
Total
£
30,847
89,222
120,069
317
24,019
24,336
2,646
2,646
21,690
141,759
64,746
77,013
141,759		 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

The financial statements were approved by the board of trustees on …………..……...…….

Signed: ……………...………….…. (Trustee)

Name: ……………..…..………….

6

Charity of John Scott

Notes to the accounts

for the year ended 31 March 2023

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, if 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.

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.

7

Charity of John Scott

Notes to the accounts continued

for the year ended 31 March 2023

2
3
4
**5 **		 Restricted funds
Balance b/f
Incoming
Revaluation
Transfers
Balance c/f
£
£
£
£
£
Extraordinary Repairs Fund
76,161
2,756
1,904
-
77,013
76,161
2,756
1,904
-
77,013
Fund name
Purpose of restriction
Extraordinary Repairs Fund
Tangible assets
Total
Cost
£
£
At 1 April 2022
30,847
30,847
Additions
-
-
At 31 March 2023
30,847
30,847
Depreciation
At 1 April 2022
-
-
Charge for year
-
-
At 31 March 2023
-
-
Net book value
At 31 March 2023
30,847
30,847
At 31 March 2022
30,847
30,847
Fixed assets investments
2023
2022
Total
Total
£
£
Balance b/f
88,725
80,386
Gain / (loss) on revaluation
(2,259)
6,763
Income generated and retained in the fund
2,756
1,576
Total
89,222
88,725
Debtors and prepayments
2023
2022
£
£
Debtors
-
203
Prepayments
317
-
317
203
Freehold
land and
b ildi
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.

8

Charity of John Scott

Notes to the accounts continued

for the year ended 31 March 2023

6 Cash at bank and in hand
Cash at bank
Cash in hand
7 Creditors and accruals
Creditors
Rents received in advance
Accruals		 2023
£
24,019
-
24,019
2023
£
804
1,275
567
2,646		 2022
£
28,613
-
28,613
2022
£
1,878
-
540
2,418

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.

9

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 2023

2023
2022
Unrestricted Unrestricted
funds
funds
£
£
Income
Charitable rental income
41,366
37,845
Dividends received
483
456
Total income
41,849
38,301
Expenditure
Repairs and renovations
31,179
47,326
Cleaning and garden maintenance
4,840
2,943
Utilities
1,424
666
Insurance
1,211
1,612
TV Licence
-
29
Agent fees
4,327
5,500
Council Tax for Empty Houses
2,656
3,010
Surveys
-
462
Security
-
17
Memberships and subscriptions
231
240
Sundries
122
163
Independent examination
567
540
Total expenditure
46,557
62,508
Net gains/(losses) on investments
(355)
827
Net income / (expenditure)
(5,063)
(23,380)
Fund balances brought forward
69,809
93,189
Fund balances carried forward
64,746
69,809		 2023
Restricted
funds
£
-
2,756
2,756
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,904)
852
76,161
77,013		 2022
Restricted
funds
£
1,576
1,576
-
-
-
-
-
-
-
-
-
-
-
-
-
5,936
7,512
68,649
76,161		 2023
Total
funds
£
41,366
3,239
44,605
31,179
4,840
1,424
1,211
-
4,327
2,656
-
-
231
122
567
46,557
(2,259)
(4,211)
145,970
141,759		 2022
Total
funds
£
37,845
2,032
39,877
47,326
2,943
666
1,612
29
5,500
3,010
462
17
240
163
540
62,508
6,763
(15,868)
161,838
145,970

10