TAUNTON AID IN SICKNESS FUND Registered Charity No. 260716 REPORT AND UNAUDITED FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Legal and Administrative Details Re[)rt of the Trustees Independent Examinefs Report Receipts and Payments Account Statemenl of Assets and Liabilities Notes to the Accounts
TAUNTON AID IN SICKNESS FUND LEGAL AND ADMINISTIL4TIVE DETAILS Taunton Aid in Sickness Fund is registerfd as a charity with the Charity Comtnission and the registration number is 260716. It has a long history as a charity and it is currently governed by a scheme dated 4 September 1963 as amended by two Schemes dated 22 July 1993 and 28 June 2018 respectively. Address clo A C Mole LLP Stafford House Blackbrook Park Avenue Taunton Somerset TAI 2PX Web51te Trustees Mrs J Sherwood (Chair) Mrs M A Read (Chair of the Grdnts Committee) Mr I Pinder (Treasurer retired 9 May 2023) Mr A Osl)orne (Treasurer ap]nted 9 May 2023) Mrs J M Allgrove Ms K A Cressw¢ll Dr J Davidson Ms F L Grant Dr R Lees Mr P Moat Mrs J E Willey Itrk Mrs H Knight
TAUNTON AID IN SICKN ss UND REPORT OF THE TRUSTE YEAR E ED 31 MARCH 2024 The Trustees present their report along with the Unaudited Financial Statements of the Fund for the year ended 31 March 2024. se and Aims The purp)s¢ of the Taunton Aid in Sickness F¢tnd is to provide aid to sick pty)r residents in the area of Taunton defined as that en¢losed by a circle. the centre being St Mary's Church. Taunion and the radius being five mil¢s. The original area was that of the old Borough of Taunton and the civil parish of Trull. This area has preference, should funds fail. Further Infom)10 is available on the charity's website- see page l. How our work meets our aims and delivers ublic benefit The Fund meets needs not ordinarily met by statutory organisalions. Applications received througJ] applying agencies such as Social Services, local NHS Trusts and Ciiizens Advice. and are dealt with promptly to the benefit of all who qualify. The Trusiees have referred to the guidance contained in the Charity Corntnission's general guidance on public benefit when reviewing the Charity's aims and objtttives. The Trustees made 25 grants lo individuals during the year amounting to £14.513 (2023 - 36 grants. £14,254)- No grants were made to organisations during the year. Structure Governance and Mana ement The Taunton Aid in Sickness Fund is Constituted by a tked of Trust and is a registered charity no. 260716. The names of the Trustees who seryed throughout the year ended 31 March 2024. except where note are as set out on pag¢ l. The consideration and prwessing of applications for grants is carried out by the Grants Committee which consists entirely of Trustees and is adminis*red by the Clerk. It h&s b¢¢n the Trustees, usual prctice to m twice a year and receive reFX)rts from the Grdnts Comtnittee and the agent who manages the Trust's investment property, 21 Canon Stree( Taunton. The Chair ofthe Grants Committee can authorise grants up to £500. but requests for greater amounts or unusual cases atr referred ts) Committee members. Financial Review and Investment Polic The accounts have been preparcd on a Receipts and Payments basis and are in accordance with the guidance issued by the Charity Commission for small charities. There wa8 a surplus of receipts over payments for th¢ year of £6,347 (2023 - surplus of £1,104). The Charity is in a financia] position to distribute MO funds and the Trustees are pursuing all avenues to identify eligible benefici&ries.
TAUNTON AID IN SICKNESS FUND REPORT OF THE TRUSTEES YEAR ENDED 31 MARCH 2024 Financial Review and Inveslment Polic Continued The Charity's main source of income is rent from otTices in Canon StreeL Taunton. This property comprises two suite5 of offices. Curreni working patterns and economic circumstances have made the offices less attractive lo tenants. The Truslees and their Agents have worked with the tenants to maintain full occupancy. the Tntstees appointed a new mar1ng agent during the year UFM)n the retirement of the long standing agent .Subsequeni lo the TAISF year ending 31st March 2024 the trustees agreed the saic of the premises known a5 21 Canon Street Taunton . Completion was achieved in September 2024. Building repair costs totslled £204 this year (2023 - £985). The building is considcred to be structurally Sound and in a fair stste of repair, but it would benefit from modernisation and improvements lo the heating system and window5 $0 far &$ those are comwible with the building's lied status. Long t¢mi funds are held in Charities OtTicial Inve51ment Fund Incom¢ Units which prlUCe income for the Fund and have the Frf)tentiai for long-tertn growth. The value of COIF Units held at 31 March 2024 was £ 216.963 (2023 - £198,711). Mosl of the liquid fund5 are invested in bank CoUnts and deposit accounts designed for the charity seclor. Reserves Polic In order to safeguard the fabri¢ of the Fund's building th¢ Tru*ees retain a sum of £22,292 itt a Repairs Equalisation Resetve to meet ihe (051 of any major unforeseen repair costs. Ideally this should leave unrestricted funds (which are the free reserves of th¢ Fund) at a level which equatrs to about six months expenditure. Thi5 should provide sutTicient fund5 to cover administrntion costs and to respond lo ¢mergen¢y applications for grdnts which Come in from time to time. Risk Man ¢ment The Trustees have examined the m&jor strategic, business and operational risks which the Fund faces and confimi that systems are in place to ensure thai all necessary steps are taken to lessen these risks. On Behalf of the Committee of TrSteeS erwood of Trustees 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TAUNTON AID IN SICKNESS FUND YEAR ENDED 31 MARCH 2024 I report to the trustees on my examination of the accounts of Taunton Aid in Sickness Fund (the Fund) for the year ended 31 Mah 2024 which are s¢t out on pages S to 7. Res nsibilities and basis of r¢ As the charity trustees of the Fund you are responsible for the prepardtion of the accounts in accord8n¢¢ with thc requirements of th¢ Charities Act 2011 {'the Ace). I report in respect of my examination of the Fund's accounts carried out under section 145 of the 2011 Act and in ¢arrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5Xb) of the 201 l Act. Inde ettdent examin rfs slalement I have completed rny examination. I confirni that no material matters have come to my attention in connection with the examination giving m¢ cause to believe thal in any material resp¢ct: (l) accounting r¢cords were not kept in r¢speci of the Fund &s required by section 130 of the Act. or (2) the accounts do not accord with those records. I have no concerns and have come across no other matters in conn¢clion with the examination to which attention should be drdwn in this rert in order to en&bl¢ a proper understanding of the ac¢ounts to be reached. ItEd Michael Cook Bsc FCA A C Mole LLP Chartered Accountants Stafford House Blackbrook Park Av¢nu¢ Taunton TA12PX 2025
TAUNTON AID IN SICKNESS FUND RECEiYfs AND PAYMENfs AccouKr YEAR ENDED 31 MARCH 2023 Notes 2024 2023 Income Recei Investment Income'.- Dividends Bank and Other Interest Rent Services Recharged 5,785 5,785 334 14,650 3.111 18,250 2,357 27.296 1225 331 23,880 19 Grant refund5 C&sh float movement TOTAL RECEIPTS 28,852 23.899 Direct Charitable Ex nditure Aid in Sickness Direct Grdnts=. Individuals Organisations 14,514 14.254 14.514 14.254 Oth¢r Ex nditure Clerical Assistance Printin& Postage and Stationery Trdvel Room Hire Website costs Infomialion Commissioner Registration Advice on change of tenancy arrnngements Property Maintenance Costs 2,680 300 2.680 163 54 76 35 35 4.922 5.581 7,991 8.541 TOTAL PAYMENTS 22.505 22,795 Surplus of Rectipts over Payments for the Year 6.347 1.104 Cash at Bank and in Hand at 31 March 2023 68,613 67,509 Cash at Bank and in Hand at 31 March 2024 74.960 68,613
TAUNTON AID IN SICKNESS FUND STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2024 2024 MONETARY ASSETS 2023 Bank and Cash Balances COIF Dew)sit A¢Unt Bank CuTrent Account 19,¢J)O 55.960 19.000 49,613 Total per Receipts and Paym¢nts Account (page 5) 74.960 68,613 b) Debtors Held by Greenslade Taylor Hunt Held by Went Weller Interest R¢ceivable 2.169 2.500 62 Liabilities NON-MONETARY ASSETS Pro - Pernian¢nl Endowment Freehold Land and Buildings at 21 Canon Str¢eL Taunton are let as offices and valued for insurdn¢e purp)ses on a replacement basis at £1.565.122 (2023 - £1.565,122). The open market value is consided lo be significantly less than the insured value. b) Shares - Endowed Funds 2024 2023 Investments in units of the Charities OtTicial Investment Fund 10618.48 Income Units at bid market valu¢ 216.963 198,711 The endowed funds also include £5,500 held withtn the balanc¢ of £55.960 in the Lloyds Bank current a¢¢ount and disclosed within Monetary Assets (see aVe). Signed on behalf of the mmittee of Trustees on i•T. 2025 Mrs J sherw(l (Chair of Trustees) Mr A C Osix>rne Trustee
TAUNTON AID IN SICKNESS FUND INOTES TO THE Accouiyrs YEAR ENDED 31 MARCH 2024 2024 2023 ANALYSIS OF PROPERTY MAINTENANCE COSTS Insurance- reimbursed by tenants Insurdnce Wafrr Charges - reimbursed by t¢nants Water Charges Electricity- reimbursed by tenants Electricity- on unoccupicd oifices Repairs to the Property Agent's Commission and Fees (incl VAD 558 316 347 300 380 20 1,977 456 204 1.585 2,206 224 985 945 4,922 5,581 ALLOCATION OF CASH BALANCES The balance of cash at bank and in hand at 31 March 2024 is divided between the General R¢s¢rve and the Repairs F4ualisation Reserve. Generdl Rescrve Repairs Equalisation Re5erYe 52,668 22.292 Balance per Accounts 74,960 airs E ualisation Reserve Balance at l April 2023 and 31 March 2024 22,292 The Repairs Equalisation Reserve was set up by a decision of the Tnjstees to provide for major repair5 to the property in future years. It is therefore a designated fund of the Charity. The urrent value of the fund is ¢onsidered adequate for its PUTposes and therefor¢ no further funds were added during the y¢aT ¢nded 31 March 2024. General Reserve Balance as al l April 2023 Add.. Surplus of Receipts over Payments for the Year Balance at 31 March 2024 46,321 6,347 52,668