THE FOX & CREWDSON CHARITY Registered Charity No 245571
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
THE FOX AND CREWDSON CHARITY
INDEX TO THE FINANCIAL STATEMENTS
Page
1. Report of the Trustees
3. Report of the Independent Examiner
4. Statement of Financial Activities
5. Balance Sheet
6. Notes to the Accounts
THE FOX AND CREWDSON CHARITY TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The purpose of the charity is to provide homes for needy women of good character who are not less than 50 years old and who are resident in Devon or Cornwall at the time of appointment. The charity is registered with the Charity Commission – charity number 245571.
The scheme was approved by the Charity Commission on 23rd June 1966.
During the year 10 units were occupied for the entire year. One unit was vacant for the entire year. The room was advertised throughout the year.
The property has been maintained in good order during the year.
The surplus for the year amounted to £15,218 (2021: £53,958). The charity charges all repairs to the income and expenditure account as they arise. General reserves now stand at £463,287 (including investments of £362,958) of which free reserves were £98,394. The Trustees’ objective is to retain investments to produce income in order to maintain the charity’s activities in the future. The Trustees believe that this level of reserve is necessary to meet this objective.
Were there a requirement for new trustees, these would be identified and appointed by the remaining trustees. The induction of any new trustee involves awareness of a trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new trustee would receive copies of the previous year's annual report and accounts and a copy of the Charity Commission leaflet 'The Essential Trustee: What you need to Know'.
The trustees have considered the major risks to which the charity is exposed and consider that all reasonable precautions have been taken.
Our main activities and whom we try to help are described above. All our charitable activities focus on providing accommodation to those in need and are undertaken to further our charitable activities for the public benefit.
The trustees in office during the year were:
Michael Evans Gina Evans John Lawson Richard White Jenny Deakin
The Principal office address is; 77 Alcester Street, Plymouth, PL2 1EE
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Trustees’ responsibilities
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. In preparing those accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue its operations.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011. 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.
Signed on behalf of the trustees on …………..
John Lawson
Michael Evans
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THE FOX AND CREWDSON CHARITY
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE FOX AND CREWDSON CHARITY
On accounts for the year ended 31st December 2022
I report to the trustees on my examination of the financial statements of The Fox & Crewdson Charity ('the charity') for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
P M WEBB FCA WESTCOTTS (SW) LLP Chartered Accountants 3 Longbridge Road Marsh Mills PLYMOUTH PL6 8LT
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THE FOX AND CREWDSONS CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Note Unrestricted Endowment Funds Funds £ £ Income and Expenditure Incoming Resources Rents Due from Tenants 2 44,180 - Investment Income 3 13,410 - Other Income - - Total Incoming Resources 57,590 - Resources Expended Direct charitable expenditure 4 31,425 - Total Resources Expended 31,425 - Net Incoming resources for the Year 26,165 - Other Recognised Gains and Losses Unrealised gains/(losses) on investments (10,947) - Net Movement in Funds 15,218 - Balances brought forward at 1 January 2022 448,069 35,466 Balances carried forward at 31 December 2022 463,287 35,466 |
Total Funds 2022 £ 44,180 13,410 - |
Total Funds 2021 £ 36,697 10,493 - |
|---|---|---|
| 57,590 | 47,190 | |
| 31,425 | 23,819 | |
| 31,425 | 23,819 | |
| 26,165 (10,947) |
23,371 30,587 |
|
| 15,218 483,535 |
53,958 429,577 |
|
| 498,753 | 483,535 |
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THE FOX AND CREWDSON CHARITY
BALANCE SHEET AS AT 31 DECEMBER 2022
| Notes 2022 Fixed Assets £ Freehold Land Fox House & improvements at cost 57,348 Less Housing Association Grant (20,227) 6 37,121 Plant & Machinery 6 280 General Investments 7 362,958 400,359 Current Assets Debtors 9 1,463 Cash at Bank & In Hand 8 98,525 99,988 Liabilities : amounts falling due within one year 10 1,594 Net Current Assets 98,394 Total Assets less Current Liabilities ~~498,753~~ Funds Unrestricted 15 463,287 Crewdson Endowment Fund 15 35,466 498,753 |
Notes 2022 Fixed Assets £ Freehold Land Fox House & improvements at cost 57,348 Less Housing Association Grant (20,227) 6 37,121 Plant & Machinery 6 280 General Investments 7 362,958 400,359 Current Assets Debtors 9 1,463 Cash at Bank & In Hand 8 98,525 99,988 Liabilities : amounts falling due within one year 10 1,594 Net Current Assets 98,394 Total Assets less Current Liabilities ~~498,753~~ Funds Unrestricted 15 463,287 Crewdson Endowment Fund 15 35,466 498,753 |
Notes 2022 Fixed Assets £ Freehold Land Fox House & improvements at cost 57,348 Less Housing Association Grant (20,227) 6 37,121 Plant & Machinery 6 280 General Investments 7 362,958 400,359 Current Assets Debtors 9 1,463 Cash at Bank & In Hand 8 98,525 99,988 Liabilities : amounts falling due within one year 10 1,594 Net Current Assets 98,394 Total Assets less Current Liabilities ~~498,753~~ Funds Unrestricted 15 463,287 Crewdson Endowment Fund 15 35,466 498,753 |
2021 £ 57,348 (20,227) |
|---|---|---|---|
| 37,121 329 360,676 |
|||
| 398,126 | |||
| 1,463 98,525 |
587 87,481 |
||
| 99,988 1,594 |
88,068 2,659 |
||
| 98,394 ~~498,753~~ 463,287 35,466 498,753 |
85,409 |
||
| ~~483,535~~ | |||
| 448,069 35,466 |
|||
| 483,535 |
These accounts were approved by the Trustees on …...............
Trustees
John Lawson
Michael P Evans
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THE FOX AND CREWDSON CHARITY YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS
1 Accounting Policies
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(a) These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
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(b) The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable to the UK and Republic of Ireland': - The requirements of section 7 Statement of Cash Flows.
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(c) Housing properties are stated at cost. No depreciation is provided because the trustees are of the opinion that the site value is considerably in excess of the 'net book amount'. Depreciation is provided at 15% on plant and machinery on a reducing balance basis.
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(d) Investments are stated at market values. The historical costs plus accumulated income as at balance sheet date are stated by way of note.
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(e) A financial asset or a financial liabilty is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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(f) Gross Rents represents maintenance contributions receivable.
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(g) Donations and legacies are accounted for when received
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(h) Expenditure is allocated in the year in which it is incurred
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(i) Given the level of reserves, there are no material uncertainties about the charities ability to continue as a going concern.
2 Turnover From Lettings
| Turnover From Lettings | ||
|---|---|---|
| Gross Rents on full occupancy Less Additional Paid/(Voids) Net income from rents and services |
2022 £ 47,960 (3,780) ~~44,180~~ |
2021 £ 38,280 (1,583) |
| ~~36,697~~ |
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THE FOX AND CREWDSON CHARITY YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (Continued)
| 3 Investment Income Dividends from quoted investments: M & G - National Association of Almshouses Bank and building society interest: 4 Direct Charitable Expenditure Repairs and Renewals Subscriptions & licences Rates and Water Electricity Insurance Adverts Examiner's fee Governance costs Wages Depreciation |
2022 £ 13,410 13,410 2022 £ 13,596 284 2,591 576 1,227 60 708 1,177 11,158 49 31,425 |
2021 £ 10,493 |
|---|---|---|
| 10,493 | ||
| 2021 £ 8,487 638 2,241 458 1,158 101 660 726 9,292 58 |
||
| 23,819 |
5 Transactions with Trustees
No Trustee received remuneration in relation to the activities of the Charity. Trustees did not claim travel expenses in the period (2021: £Nil).
6 Fixed Assets
| Cost: At 1 January 2022 Additions At 31 December 2022 Depreciation: At 1 January 2022 Charge for Year At 31 December 2022 Net Book Value At 31 December 2022 At 31 December 2021 |
Freehold Property 37,121 - ~~37,121~~ - - - 37,121 37,121 |
Plant & Machinery 5,948 - ~~5,948~~ 5,619 49 5,668 280 329 |
Total 43,069 - |
|---|---|---|---|
| ~~43,069~~ | |||
| 5,619 49 |
|||
| 5,668 | |||
| 37,401 | |||
| 37,450 |
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THE FOX AND CREWDSON CHARITY YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (Continued)
| 7 | Investments at Market Value | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| M&G Charity Multi Asset Fund | - | 360,676 | |
| 7IM Portfolio | 362,958 | - | |
| 362,958 | 360,676 | ||
| The Historical Cost of Investments at 31 December 2022 was £361,870 (2021: £87,553) | |||
| 8 | Cash at Bank | 2022 | 2021 |
| £ | £ | ||
| Lloyd's Bank Deposit Account | 1,530 | 1,530 | |
| Lloyd's Bank Current Account | 96,995 | 85,951 | |
| 98,525 | 87,481 | ||
| 9 | Debtors | 2022 | 2021 |
| £ | £ | ||
| Prepayments | 1,463 | 587 | |
| 1,463 | 587 | ||
| 10 | Creditors | 2022 | 2021 |
| £ | £ | ||
| Rent creditors | 870 | 1,885 | |
| Accruals | 702 | 755 | |
| Wages & PAYE/NIC | 22 | 19 | |
| 1,594 | 2,659 | ||
| 11 | Crewdson Endowment Fund | £ | |
| Balance Brought Forward | 35,466 | ||
| Fund as at 31 December 2022 | 35,466 |
The fund represents the cost of the freehold land less the Housing Association grant.
12 Staff Costs
The average number of persons employed by the charity during the year is 1 (2021: 1) There are no employees who received total remuneration exceeding £60,000
13 Related Party Transactions
There were no related party transactions in the reporting period.
14 Independent Examination Fees
Fees payable to the independent examiner for the independent examination of the financial statements totalled £702 (2021: £654).
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THE FOX AND CREWDSON CHARITY YEAR ENDED 31 DECEMBER 2022 NOTES TO THE ACCOUNTS (Continued)
15 Fund Analysis
Unrestricted Funds
| At 01/01/22 | Income | Expenditure | Gains/(Losses) | At 31/12/22 | |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| General funds | 448,069 | 57,590 | (31,425) | (10,947) | 463,287 |
| At 01/01/21 | Income | Expenditure | Gains/(Losses) | At 31/12/21 | |
| £ | £ | £ | £ | £ | |
| General funds | 394,111 | 47,190 | (23,819) | 30,587 | 448,069 |
| Endownment Funds | |||||
| Unrealised | |||||
| At 01/01/22 | Income | Expenditure | Gains/(Losses) | At 31/12/22 | |
| £ | £ | £ | £ | £ | |
| Endownment funds | 35,466 | - | - | - | 35,466 |
| Unrealised | |||||
| At 01/01/21 | Income | Expenditure | Gains/(Losses) | At 31/12/21 | |
| £ | £ | £ | £ | £ | |
| Endownment funds | 35,466 | - | - | - | 35,466 |
| Analysis of group net assets between funds | |||||
| Unrestricted | Endownment | Total | |||
| Funds | Funds | Funds 2022 | |||
| £ | £ | £ | |||
| Fixed assets | 364,893 | 35,466 | 400,359 | ||
| Current assets | 99,988 | - | 99,988 | ||
| Creditors less than 1 year | (1,594) | - | (1,594) | ||
| ~~463,287~~ | ~~35,466~~ | ~~498,753~~ | |||
| Unrestricted | Endownment | Total | |||
| Funds | Funds | Funds 2021 | |||
| £ | £ | £ | |||
| Fixed assets | 362,660 | 35,466 | 398,126 | ||
| Current assets | 88,068 | - | 88,068 | ||
| Creditors less than 1 year | (2,659) | - | (2,659) | ||
| 448,069 | 35,466 | 483,535 |
16 Analysis of group net assets between funds
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