Charity registration number: 242181
## The James Tomkinson Memorial Cottages Trust
Annual Report and Financial Statements
for the Year Ended 31 March 2024
## **The James Tomkinson Memorial Cottages Trust Contents**
|Reference and Administration Details|1|
|---|---|
|Trustees’ Report|2 – 3|
|Statement of Trustees’ Responsibilities|4|
|Independent Examiner’s Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 – 12|
# **The James Tomkinson Memorial Cottages Trust Reference and Administrative Details**
Charity Registration Number
242181
Corporate Trustee
Jigsaw Homes North
Directors of Corporate Trustee
B Moran P Chisnell D Kelly K Marshall A Marshall M George C Smith
Secretary
M Murphy
Principal Office
Jigsaw Homes Group 249 Cavendish Street, Ashton-Under-Lyne, OL6 7AT
Bankers National Westminster Bank Plc Leigh Branch 32 Market Street Leigh WN7 1DX
Independent Examiner
Helen Binns FCA Beever and Struthers One Express 1 George Leigh Street Ancoats Manchester M4 5DL
1
## **The James Tomkinson Memorial Cottages Trust Trustees’ Annual Report**
The corporate trustee presents their report and independently examined financial statements for the year ended 31 March 2024.
The corporate trustee, Jigsaw Homes North, hold the title (CH403965) to the property belonging to The James Tomkinson Memorial Cottages Trust. The assets are held on the Statement of Financial Position of The James Tomkinson Memorial Cottages Trust as disclosed in the Charity Commission Scheme document.
## **Purpose and Aims**
We are a charity whose main purpose is to provide social housing for rent in Willington, Cheshire. The stock consists of four cottages, Brunswick Cottages, which were built on the land in front of the Memorial Cottages at Chapel Lane, Willington. The memorial Cottages were built in 1912 in memory of James Tomkinson who was killed in the House of Commons Point to Point in 1910.
The four cottages are offered at affordable rent, to people who have a connection with Willington. Any surplus accumulated is held in reserves in trust for the Charity.
The corporate trustee of the charity is Jigsaw Homes North which is a Registered Provider of Social Housing based in the Northwest of England whose core business is centred on the management of social housing for rent.
In carrying out the Charity’s work, the corporate trustee confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Financial Review**
The charity’s position at the end of the 31 March 2024 financial year shows that the charity made an operating surplus of £13,301 which is an increase on the previous financial year (2023: £8,451). The increase to surplus is due to increased turnover from rental income combined with lower operating expenditure as routine maintenance costs reduced in the period.
At the year-end date the trust held reserves totalling £209,796 (2023: £196,495). All reserves are unrestricted. Amounts held in fixed assets are £205,977 (2023: £209,146) leaving £3,819 (2023: £-12,651) in free reserves.
2
## **The James Tomkinson Memorial Cottages Trust Trustees’ Annual Report (continued)**
## **Structure, Governance and Management**
The James Tomkinson Memorial Cottages Trust is a charitable organisation which was registered on 18 May 1965. The charity was established under a Charity Commission Scheme which established the regulation of the charity. The corporate trustee of the charity were Family Housing who were appointed in November 1996, Family Housing later became Jigsaw Housing North who remain as trustee.
In preparing these financial statements, the corporate trustee is required to:
- select suitable accounting policies and then apply them consistently.
- make judgements and accounting estimated that are reasonable and prudent.
- state whether applicable UK Accounting Standards and the Statements of Recommended Practice (SORP) have been followed.
- prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.
The corporate trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the transactions of the charity and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure they comply with applicable Accounting Standards (UK Generally Accepted Accounting Practice and the Charities SORP 2019). They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the corporate trustee of the charity on 27[th] September 2024 and signed on its behalf by:
P. Chisnell, Director of Corporate Trustee
3
## **The James Tomkinson Memorial Cottages Trust Statement of Trustees' Responsibilities**
The corporate trustee is responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the corporate trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the corporate trustee is required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The corporate trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution.
The corporate trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the corporate trustee of the charity on 27[th] September 2024 and signed on its behalf by:
P. Chisnell, Director of Corporate Trustee
4
## The James Tomkinson Memorial Cottages Trust Independent Examiner's Report to the trustees of The James Tomkinson Memorial Cottages Trust
I report to the corporate trustee on my examination of the accounts of The James Tor son Memorial Cottages Trust for the year ended 31 March 2024.
## Responsibilities and basis of report
As the charity corporate trustee of The James Tomkinson Memorial Cottages Trust, 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 James Tomkinson Memorial Cottages Trust's accounts carried out under section 145 of the 2011 Act and 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:
1. accounting records were not kept in respect of The James Tornkinson Memorial Cottages Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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 .
.IL.z.6us05 **.** . Helen Binns FCA Cha ered Accountants rt One Express 1 George Leigh Street ats Anco Manchester M45DL
Date:.9.7./.9.9.4.89.•
5
## **The James Tomkinson Memorial Cottages Trust**
## **Statement of Financial Activities for the Year Ended 31 March 2024**
|**Note**
**Income and Endowments from:**
Charitable activities
**2**
Total Income
**Expenditure on:**
Charitable activities
**3**
Total expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
**11**|**Unrestricted**
**Funds**
**2024**
**£**
26,291
26,291
(12,990)
(12,990)
13,301
196,495
209,796|**Unrestricted**
**Funds**
**2023**
**£**
24,877|
|---|---|---|
|||24,877|
|||(16,426)|
|||(16,426)|
|||8,451
188,044|
||||
|||196,495|
All of the charity’s activities derive from continuing operations during the above two periods. The funds breakdown is shown in note 12.
The notes on pages 8 to 12 form an integral part of these financial statements.
6
## **The James Tomkinson Memorial Cottages Trust**
## **(Registration number: 242181) Balance Sheet as at 31 March 2024**
|**Note**
**Fixed assets**
Tangible assets housing properties
**7**
**Current assets**
Debtors
**8**
Cash at bank and short-term deposits
**Creditors: Amounts falling due within one year**
**9**
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one**
**year**
**10**
**Total net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
**11**|**2024**
**£**
205,977
580
96,213
96,793
(221)
96,572
302,549
(92,753)
209,796
209,796
209,796|**2023**
**£**
209,146
448
84,261|
|---|---|---|
|||84,709
(3,624)|
|||81,085|
|||290,231
(93,736)|
|||196,495|
|||196,495|
|||196,495|
The financial statements on pages 6 to 12 were approved by the Corporate Trustee, and authorised for issue on 27[th] September 2024 and were signed on their behalf by:
P. Chisnell, Director of Corporate Trustee
The notes on pages 8 to 12 form an integral part of these financial statements.
7
# **The James Tomkinson Memorial Cottages Trust Notes to the Financial Statements for the Year Ended 31 March 2024**
## **1. Charity Status**
## **Legal Form**
The James Tomkinson Memorial Cottages Trust is a registered charity in England. The registered office address is 249 Cavendish Street, Ashton-Under-Lyne, OL6 7AT
## **2. Accounting Policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with applicable Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and the Charities SORP 2019. A summary of the more important accounting policies, which have been applied consistently, is set out below.
## **Basis of preparation**
The James Tomkinson Memorial Cottages Trust meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) 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.
## **Going concern**
At the time of approving the financial statements, the corporate trustee has a reasonable expectation that the Charity has adequate reserves to continue in operational existence for the foreseeable future. Therefore, the corporate trustee continues to adopt the going concern basis of accounting in preparing the financial statements.
## **Income and endowments**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading those aggregate similar costs to that category.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
8
## **The James Tomkinson Memorial Cottages Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **Taxation**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **Tangible fixed assets (Housing properties)**
All fixed assets are initially recorded at cost. Housing properties are stated at historic cost.
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Housing properties Straight Line 1%
## **Social Housing Deferred Grant**
Where developments have been financed wholly or partly by social housing grant, the cost of those developments has been reduced by the amount of the grant received.
The James Tomkinson Memorial Cottages Trust received a grant towards the cost of the Memorial Cottages, the grant is recognised as income over its expected useful life.
## **Amortisation**
Amortisation is provided on deferred capital grants so as to write off the cost over their expected useful economic life as follows
**Asset class Amortisation method and rate** Deferred grant Straight Line 1%
The corporate trustee considers that this accounting policy is necessary in order that the financial statements give a true and fair view.
## **3. Income from charitable activities**
|Rents
Service charges
Amortised grant|**Unrestricted**
**funds**
**£**
24,832
476
983
26,291|**2024**
**£**
24,832
476
983
26,291|**2023**
**£**
23,332
562
983|
|---|---|---|---|
||||24,877|
9
## **The James Tomkinson Memorial Cottages Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **4. Expenditure on charitable activities**
|Management fees
Bank charges
Service charges
Maintenance
Depreciation|**Unrestricted**
**funds**
**£**
2,739
4
600
6,478
3,169
12,990|**2024**
**£**
2,739
4
600
6,478
3,169
12,990|**2023**
**£**
2,712
4
666
9,875
3,169|
|---|---|---|---|
||||16,426|
## **5. Trustees’ remuneration and expenses**
No corporate trustee, nor any persons connected with them, have received any remuneration from the charity during the year.
No corporate trustee has received any reimbursed expenses or any other benefits from the charity during the year.
## **6. Independent examiner’s remuneration**
The accountants fee consisted of accountancy fees of £1,440 (2023: £Nil) and independent examiners fees of £3,300 (2023: £Nil). All fees are charged to the parent group, Jigsaw Homes Group Limited.
## **7. Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10
## **The James Tomkinson Memorial Cottages Trust Notes to the Financial Statements for the Year Ended 31 March 2024**
## **8. Tangible fixed assets**
|**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
**9.**
**Debtors**
Rent arrears
Other debtors
Amounts due from Jigsaw Homes North
Amounts due from Jigsaw Homes Group
**10.**
**Creditors: amounts falling due within one year**
Rent in advance
Sundry creditors
Trade creditors
Accruals
Owed to Jigsaw Homes Group|**Housing**
**Properties**
**£**
223,411
223,411
14,265
3,169
17,434
205,977
209,146
**2024**
**£**
351
123
-
106
580
**2024**
**£**
164
-
-
57
-
221|**Total**
**£**
223,411|
|---|---|---|
|||223,411|
|||14,265
3,169|
|||17,434|
|||205,977|
|||209,146|
|||**2023**
**£**
337
111
-|
|||448|
|||**2023**
**£**
164
224
1,164
23
2,049|
|||3,624|
11
## **The James Tomkinson Memorial Cottages Trust**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **11. Creditors: amounts falling due after more than one year**
|Deferred capital grant
**12.**
**Funds**
**Unrestricted funds**
General
**Unrestricted funds**
General|**Balance at 1**
**April 2023**
**Incoming**
**resources**
**£**
196,495
26,291|**2024**
**£**
92,753
92,753
**Resources**
**expended**
**£**
(12,990)|**2023**
**£**
93,736
93,736|
|---|---|---|---|
||||**Balance at 31**
**March 2024**
**£**
209,796|
||**Balance at 1**
**April 2022**
**Incoming**
**resources**
**£**
188,044
24,877|**Resources**
**expended**
**£**
(16,426)|**Balance at 31**
**March 2023**
**£**
196,495|
## **13. Related party transactions**
Jigsaw Homes North is the corporate trustee of The James Tomkinson Memorial Cottages Trust. During the year the charity paid management fees of £2,600 (2023: £2,600) to Jigsaw Homes North. At the year end the balance owed to Jigsaw Homes North was £Nil (2023: £Nil).
12