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2024-12-31-accounts

REGISTERED CHARITY NUMBER: 249183

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

J.B. Willows Working Men's Cottages

Marshall & Co Chartered Accountants & Chartered Tax Advisers The Bloc Springfield Way Anlaby Kingston upon Hull East Yorkshire HU10 6RJ

J.B. Willows Working Men's Cottages

Contents of the Financial Statements

for the year ended 31 December 2024

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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
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J.B. Willows Working Men's Cottages

Report of the Trustees for the year ended 31 December 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

It is the current intention of J B Willows to in the next 12 months;

Public benefit

The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit. We have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During 2024, our focus remained very similar to that of previous years, namely keeping our tenants and buildings safe.

We continued our approach of safe access to properties to carry out reactive works as well as a limited amount of planned and preventative maintenance. We have had a couple of the tenants vacate their property, due to illness, however, the turnover of tenants remains low.

We have remained with The Maltings Property Management as we felt that their network of trades provides trusted and vetted tradespeople were better placed for the local area and who will allow us to benchmark and compare costs for the larger pieces of work. Our on-site caretaker plays a key role in this process, logging jobs and meeting contractors which takes the worry away from our tenants, many of who are in their 70s, 80s and beyond.

FINANCIAL REVIEW

Financial position

The Charities financial position for year ending 2024, was stable and in line with the previous year with good levels of reserves and adequate net current assets.

Reserves policy

The Charity keeps reserves adequate for the structural an cosmetic maintenance of the properties.

FUTURE PLANS

Looking forward to 2025, our focus will be on developing an estates strategy with an emphasis on supporting residents with a robust maintenance plan and reserves to do this. Due to rising repair and maintenance costs, this will be necessary to allow us to maintain the high standards of accommodation without compromise. There will be a property strategy review to ensure that we are getting the best for the charity's objectives.

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J.B. Willows Working Men's Cottages

Report of the Trustees

for the year ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Organisational structure

We currently hold funds for JB Willows in one the rental account which provided the monthly operational costs and received in the rental income from our properties. This is reviewed bi-monthly by the JB Willows committee and quarterly by the HEY Smile Foundation trustees.

J B Willows Working Men's Cottages sits within the HEY Smile Foundation Resources Committee which brings together four Trustees with the support of the Smile CEO and Head of Department. Reports from this committee are forwarded to the agenda of the HEY Smile Foundation Trustee board each quarter.

Decision making

All maintenance requests are directed via the onsite caretaker and if works are more than remedial and or above £500, three quotes are requested in partnership with the current property agency. In the last financial year, all requests for maintenance were fulfilled, and a longer-term plan is being reviewed regarding planned and preventative maintenance to each property. Larger amounts require a signature from the CEO.

All annual safety checks and legislative requirements are managed through our current property agency.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

249183

Principal address

61 Queens Gardens Hull East Yorkshire HU1 3AE

Trustees

HEY Smile Foundation

Independent Examiner

David Marshall FCA Marshall & Co Chartered Accountants & Chartered Tax Advisers The Bloc Springfield Way Anlaby Kingston upon Hull East Yorkshire HU10 6RJ

Approved by order of the board of trustees on 7 October 2025 and signed on its behalf by:

HEY Smile Foundation - Trustee

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Independent Examiner's Report to the Trustees of J.B. Willows Working Men's Cottages

Independent examiner's report to the trustees of J.B. Willows Working Men's Cottages

I report to the charity trustees on my examination of the accounts of J.B. Willows Working Men's Cottages (the Trust) for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of the 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 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 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.

David Marshall FCA

Marshall & Co Chartered Accountants & Chartered Tax Advisers The Bloc Springfield Way Anlaby Kingston upon Hull East Yorkshire HU10 6RJ

7 October 2025

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J.B. Willows Working Men's Cottages

Statement of Financial Activities

for the year ended 31 December 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
2
Total
EXPENDITURE ON
Raising funds
3
Other
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2024
Unrestricted
fund
£
-
56,728
56,728
45,681
4,064
49,745
6,983
2,156,788
2,163,771		 2023
Total
funds
£
1
48,789
48,790
43,085
4,126
47,211
1,579
2,155,209
2,156,788

The notes form part of these financial statements

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J.B. Willows Working Men's Cottages

Balance Sheet

31 December 2024

Notes
FIXED ASSETS
Tangible assets
5
CURRENT ASSETS
Debtors
6
Cash at bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
8
Unrestricted funds
TOTAL FUNDS		 2024
Unrestricted
fund
£
2,117,000
7,158
66,772
73,930
(27,159)
46,771
2,163,771
2,163,771
2,163,771
2,163,771		 2023
Total
funds
£
2,117,000
7,096
40,619
47,715
(7,927)
39,788
2,156,788
2,156,788
2,156,788
2,156,788

The financial statements were approved by the Board of Trustees and authorised for issue on 7 October 2025 and were signed on its behalf by:

HEY Smile Foundation - Trustee

The notes form part of these financial statements

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for the year ended 31 December 2024

J.B. Willows Working Men's Cottages

Notes to the Financial Statements

1. 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 (FRS 102) '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.

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 accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - not provided

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME

INVESTMENT INCOME
2024 2023
£ £
Rents received 56,728 48,789

continued...

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J.B. Willows Working Men's Cottages

Notes to the Financial Statements - continued

for the year ended 31 December 2024

3. RAISING FUNDS

Investment management costs

Investment management costs
2024 2023
£ £
Support costs 45,681 43,085

4. 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.

5. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 January 2024 and 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Freehold
property
£
2,117,000
2,117,000
2,117,000

Cost or valuation at 31 December 2024 is represented by:

Valuation in 2018
Valuation in 2022
Cost		 Freehold
property
£
1,283,963
827,000
6,037
2,117,000

Freehold land and buildings were valued on open market basis on 3 November 2022 by Garness Jones.

continued...

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J.B. Willows Working Men's Cottages

Notes to the Financial Statements - continued

for the year ended 31 December 2024

6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
7.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
8.
MOVEMENT IN FUNDS
At 1/1/24
£
Unrestricted funds
General fund
2,156,788
TOTAL FUNDS
2,156,788
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
56,728
TOTAL FUNDS
56,728		 2024
£
285
5,345
1,528
7,158
2024
£
25,359
1,800
27,159
Net
movement
in funds
£
6,983
6,983
Resources
expended
£
(49,745)
(49,745)		 2023
£
285
5,345
1,466
7,096
2023
£
7,027
900
7,927
At
31/12/24
£
2,163,771
2,163,771
Movement
in funds
£
6,983
6,983

continued...

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J.B. Willows Working Men's Cottages

Notes to the Financial Statements - continued

for the year ended 31 December 2024

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/1/23
£
Unrestricted funds
General fund
2,155,209
TOTAL FUNDS
2,155,209
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
48,790
TOTAL FUNDS
48,790		 Net
movement
in funds
£
1,579
1,579
Resources
expended
£
(47,211)
(47,211)		 At
31/12/23
£
2,156,788		 At
31/12/23
£
2,156,788
2,156,788
Movement
in funds
£
1,579
1,579
1,579

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 At 1/1/23
£
2,155,209
2,155,209		 Net
movement
in funds
£
8,562
8,562		 At
31/12/24
£
2,163,771
2,163,771

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 105,518 (96,956) 8,562
TOTAL FUNDS 105,518 (96,956) 8,562

continued...

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J.B. Willows Working Men's Cottages

Notes to the Financial Statements - continued

for the year ended 31 December 2024

9. RELATED PARTY DISCLOSURES

The HEY Smile Foundation provides operational management administration assistance.

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