THE WILLIAM ROBERTSON HOMES ASSOCIATION
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CHARITY REGISTRATION NUMBER: 247405
THE WILLIAM ROBERTSON HOMES ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Report of the Trustees | 2 - 4 |
| Independent Examiners' Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes forming part of the Financial Statements | 8 - 11 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 12 |
| Detailed Balance Sheet | 13 |
THE WILLIAM ROBERTSON HOMES ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
D E Robertson T J Bell I G Robertson
Board of Governors
D E Robertson T J Bell I G Robertson M Brunton A Wilson S A Brierley FRICS J W E Robertson
(Chairman and Life Governor) (Life Governor) (Life Governor) (Treasurer)
Secretary
Stephen N J Kerry
Address
Mill Cottage Felton Morpeth Northumberland NE65 9HL
Independent Examiners
Greaves Grindle Chartered Accountants Victoria House Bondgate Within Alnwick Northumberland NE66 1TA
Bankers
Barclays Bank plc 20 Bondgate Within Alnwick Northumberland NE66 1TF
1
THE WILLIAM ROBERTSON HOMES ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out on pages 8-9 and comply with the charity’s constitution and rules and applicable law.
Constitution and objects
The William Robertson Homes Association is governed by a constitution and rules and was registered as a charity on 29 March 1966, number 247405.
The objects of the charity are to provide homes as residences for farmers and other agricultural workers in the county of Northumberland, who are incapacitated through old age or infirmity, or who are not less than sixty years of age, who are in need of assistance and who have retired from full employment, and who shall prior to ceasing work have been employed in agriculture in the county of Northumberland for a period of not less than 15 years.
Organisation
The Trustees and Governors who have served during the year and since the year-end are set out on page 1. Life Governors are elected by the Board of Governors; the Chairman is also elected by the Board of Governors and holds office so long as he is prepared to act as such during his lifetime. The Treasurer and Secretary are elected at the annual meeting of the Association. The remaining Board members consist of one member elected from the Northumberland County branches of each of The Land Agents’ Society, The Transport and General Workers’ Union, and a representative Trustee for the Royal Institution of Chartered Surveyors, Northumberland and Durham Branch. The trustees meet annually, although further meetings are convened whenever it is thought necessary.
Occupation of homes
The constitution specifies that the choice of occupants lies with the trustees, subject to them fulfilling the requirements outlined in the objects. In the event that suitably qualified persons cannot be found, the trustees have the power to let any surplus homes to persons who do not meet the requirements.
Reserves policy
Unrestricted funds are needed:
-
to provide funds which can be designated to specific projects to enable these projects to be undertaken at short notice, and
-
to cover administration and support costs without which the charity could not function.
The trustees continue to ensure the properties are well maintained and, in the year ended 31 December 2024 all running repairs were carried out to ensure the properties are
2
THE WILLIAM ROBERTSON HOMES ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
maintained in good condition. The total free reserves held by the charity at 31 December 2024 stood at £54,823 equivalent to £3,655 per property. Included in these amounts is a designated fund for repair and maintenance which had a balance at 31 December 2024 of £30,000 equivalent to £2,000 per property.
Administration and support costs are generally covered by rental income. In the event of an unexpected vacancy and delay in re-letting the property, this income may fall below the level needed to cover these costs and funds will need to be taken from reserves.
Financial review and investment policy
The funds held generated income of £416.03 in the year, which was used in furtherance of the charity’s objects. The treasurer and secretary, in consultation with the trustees, constantly monitor the charity’s financial requirements with a view to maximising income while still allowing quick access to funds.
Risk review
The trustees have conducted their own review of the major risks to which the charity is exposed.
The trustees work closely with the Board of Governors and the Secretary, who between them have a wide range of experience in many fields. If any specialised skills are required, appropriately qualified people are consulted. Because of the size and nature of the charity, the trustees do not consider there to be any major governance, operational or financial risks. External risks are considered to be mainly physical, for which adequate insurance cover exists. Changes in government policy and regulations are monitored on a regular basis.
Trustees’ responsibilities in relation to the financial statements
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year that give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
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 trustees are responsible for keeping proper accounting records which 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. 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.
3
THE WILLIAM ROBERTSON HOMES ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Approved by the trustees and signed on their behalf by:
………………………….. Mr D E Robertson, Chairman
………………………….2025
4
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF THE WILLIAM ROBERTSON HOMES ASSOCIATION
We report to the charity trustees on our examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages 6 to 11.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
We report in respect of our examination of the charity’s accounts carried out under section 145 of the Act and in carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination giving us 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 accounts do not accord with those records; or
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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.
We 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.
Greaves Grindle Chartered Accountants Victoria House Bondgate Within Alnwick Northumberland …………………………………………… 2025 NE66 1TA
5
THE WILLIAM ROBERTSON HOMES ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income and Endowments from Donations and legacies Charitable activities Rents receivable Investments 2 Total Expenditure on Charitable activities Property expenses 3 Other 4 Total Net Income/(Expenditure) Reconciliation of Funds Total funds brought forward Total funds carried forward |
Restricted Funds £ - - - - - - - - - - |
Unrestricted Funds £ - 37,200 416 37,616 24,242 1,080 25,322 12,294 400,343 412,637 |
Total 2024 £ - 37,200 416 37,616 24,242 1,080 25,322 12,294 400,343 412,637 |
Total 2023 £ 13,117 35,276 263 |
|---|---|---|---|---|
| 48,656 | ||||
| 59,656 1,008 |
||||
| 60,664 | ||||
| (12,008) 412,351 |
||||
| 400,343 |
6
THE WILLIAM ROBERTSON HOMES ASSOCIATION BALANCE SHEET AS AT 31 DECEMBER 2024
| Notes Fixed Assets Tangible Assets 6 Current Assets Debtors 7 Cash at Bank and in Hand Creditors Amounts falling due within one year 8 Net Current Assets Total Assets less Current Liabilities Total Net Assets Funds Unrestricted Funds 9 |
Restricted Funds £ - - - - - - - - - - |
Unrestricted Funds £ 357,814 357,814 4,100 54,336 58,436 3,613 54,823 412,637 412,637 412,637 |
Total 2024 £ 357,814 357,814 4,100 54,336 58,436 3,613 54,823 412,637 412,637 412,637 |
Total 2023 £ 357,814 |
|---|---|---|---|---|
| 357,814 | ||||
| 4,026 41,216 |
||||
| 45,242 2,713 |
||||
| 42,529 | ||||
| 400,343 | ||||
| 400,343 | ||||
| 400,343 |
The financial statements were approved by the board of Governors on ……………………………... and signed on its behalf by:
……………………………………. Mr D E Robertson
……………………………………. Mr T J Bell
7
THE WILLIAM ROBERTSON HOMES ASSOCIATION
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Principal Accounting Policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS102) ‘Accounting and Reporting by Charities: 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) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
Investment Income
Investment income is accounted for in the period it is receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resource.
Management and administration comprise costs for the running of the charity itself as an organisation.
Basic financial instruments
The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 Charities SORP (FRS 102). Subsequent measurement is as per paragraphs 11.17 to 11.19 Charities SORP (FRS 102).
Creditors
The charity has creditors which are measured at settlement amounts less any trade discount.
8
THE WILLIAM ROBERTSON HOMES ASSOCIATION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Debtors
Debtors are measured on initial recognition at settlement amount after any trade discounts. Subsequently they are measured at the cash or other consideration expected to be received.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost. Where certain properties had been revalued, on transition to FRS 102, the trustees have elected to use as their deemed cost, the previously revalued amounts of the housing properties.
Housing properties are not depreciated. They are maintained to ensure that their value does not diminish over time. The maintenance costs are charged to the income and expenditure account in the year incurred. In the Trustees’ opinion,
depreciation would be immaterial and has not been charged; residual values of the properties are not materially different to the carrying value.
| 2. Investment Income Interest on cash deposits 3. Property Expenses Water rates Property insurance Vacant property expenses Repairs and maintenance Property refurbishments Professional fees Administration fees 4. Other Costs Audit and accountancy |
2024 £ 416 2024 £ 893 3,133 - 16,216 - - 4,000 24,242 2024 £ 1,080 |
2023 £ 263 2023 £ 2,584 2,974 81 14,637 35,380 - 4,000 59,656 2023 £ 1,008 |
|---|---|---|
9
THE WILLIAM ROBERTSON HOMES ASSOCIATION NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. Trustees’ Remuneration and Benefits
There were no trustees’ remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 December 2024, nor for the year ended 31 December 2023.
6. Tangible Fixed Assets
Freehold Land and Buildings
| Dispensary Street Quakers Row Alnwick Embleton (3 Houses) (4 Houses) £ £ Deemed Cost 1 January 2024 75,000 100,000 Deemed Cost 31 December 2024 75,000 100,000 North End North End Longhoughton Longhoughton (New build) (6 Houses) (2 Houses) £ £ Deemed Cost / Cost 1 January 2024 120,000 62,814 Deemed Cost / Cost 31 December 2024 120,000 62,814 7. Debtors 2024 £ Prepayments and Accrued Income 4,100 8. Creditors Creditors: amounts falling due within one year 2024 £ Accruals 3,613 |
Total £ 175,000 182,814 357,814 2023 £ 4,026 2023 £ 2,713 |
|---|---|
10
THE WILLIAM ROBERTSON HOMES ASSOCIATION
NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. Movement in Funds
| Unrestricted funds General fund Designated repair and maintenance fund Restricted funds Total Funds Net movement in funds included in the above are as Unrestricted funds General fund Comparatives for Movement in Funds Unrestricted funds General fund Designated repair and maintenance fund Restricted funds Property refurbishment fund Total Funds Comparative net movement in funds included in the Unrestricted funds General fund Restricted funds Property refurbishment fund Total Funds |
Net At movement 1.1.24 in funds £ £ 370,343 12,294 30,000 - 400,343 12,294 - - 400,343 12,294 follows: Incoming resources 37,616 Net At movement 1.1.23 in funds £ £ 412,351 (12,008) - - 412,351 (12,008) - - 412,351 (12,008) above are as follows: Incoming resources 35,539 13,117 48,656 |
Transfers between funds £ - - - - Resources expended (25,322) Transfers between funds £ (30,000) 30,000 - - - Resources expended (47,547) (13,117) (60,664) |
At 31.12.24 £ 382,637 30,000 |
|---|---|---|---|
| 412,637 - |
|||
| 412,637 | |||
| Movement in funds 12,294 |
|||
| At 31.12.23 £ 370,343 30,000 |
|||
| 400,343 - |
|||
| 400,343 | |||
| Movement in funds (12,008) - |
|||
| (12,008) |
11
THE WILLIAM ROBERTSON HOMES ASSOCIATION
DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024
| £ £ 35,276 Turnover(Rents receivable) 13,117 Grants Direct Costs 2,584 Water rates 893.74 2,974 Property insurance 3,133.06 14,636 Repairs and maintenance 16,215.75 35,380 Property refurbishments - - Professional fees - 55,574 - Sundry (inc death cert & waste removal) - (7,181) Administrative Expenses 81 Vacant property expenses - 4,000 Administration fees 4,000.00 5,089 1,008 Accountancy 1,080.00 (12,270) Operating Surplus/(Deficit) Other Income Interest Receivable 263 263 Business premium account 416.03 (12,007) Surplus/(Deficit) on ordinary activities before taxation - Tax on surplus on ordinary activities (12,007) Surplus/(Deficit) for the financial year 412,350 Funds brought forward 400,343 Funds carried forward 2023 Total Funds |
£ 37,200.00 - 20,242.55 |
|---|---|
| (7,181) 5,089 (12,270) 263 (12,007) - (12,007) 412,350 400,343 |
16,957.45 5,080.00 |
| 11,877.45 416.03 |
|
| 12,293.48 - |
|
| 12,293.48 400,343.27 |
|
| 412,636.75 |
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THE WILLIAM ROBERTSON HOMES ASSOCIATION
DETAILED BALANCE SHEET AS AT 31 DECEMBER 2024
| £ £ £ Fixed Assets Tangible Fixed Assets 357,814 Housing Properties Current Assets 4,026 Debtors 4,099.45 Bank Balances 20,098 Business Premium Account 46,114.20 21,118 Current Account 8,222.18 45,242 58,435.83 Creditors- amounts falling due within one year 2,713 Creditors 3,613.08 42,529 Net Current Assets 400,343 Total Assets less Current Liabilities Capital and Reserves 370,343 General Fund 30,000 Designated Repair and Maintenance Fund 400,343 2023 |
£ 357,814.00 54,822.75 |
|---|---|
| 412,636.75 | |
| 382,636.75 30,000.00 |
|
| 412,636.75 |
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