## **REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31[st] DECEMBER 2023**
## **FOR**
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED REGISTERED CHARITY NUMBER: 262719**
Bemerton Lodge Social Centre Christie Miller Road Salisbury Wilts SP2 7EN
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2023**
||**Page**|
|---|---|
|Report of the Trustees|1-3|
|Independent Examiner’s Report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7-11|
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
The trustees present their report and the independently examined financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.
## **STATUS**
The Trust is an unincorporated charity and is governed by a deed dated 27 April 1971.
## **TRUSTEES OF THE CHARITY**
The trustees during the year under review were:
Michael Bowyer Malcolm Hitchings Jenny Collings Nigel Turk Hilary Maidment Dr Beth Robertson Charles Woodburn Benson – appointed 3 January 2023 Christine Pearce Rosemary Ings
All trustees give their time voluntarily and receive no monetary benefits from the Charity. We aim to recruit trustees who have experience of working with vulnerable adults over 18. It is desirable if these individuals have experience of the voluntary sector and can offer skills i.e. financial, marketing, etc. which would benefit the Charity. New trustees are appointed by the Board of Trustees after the relevant interview process. New trustees receive an induction pack containing significant documents of the organisation and the legal responsibilities of the role.
## **RISK MANAGEMENT**
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that there are systems in place to mitigate the exposure to such risks.
## **OBJECTIVES AND ACTIVITIES**
The objectives of the charity are the provision of day care, craft and social activities for physically disabled adults and to give carers a day off. The Trustees meet formally at quarterly intervals and at other times when required. Routine business is delegated to the Chairman and the charity’s administrator.
The Trustees have considered the Charity Commission’s General Guidance on public benefit and are satisfied that the public benefit requirement is being met.
## **ACHIEVEMENTS AND PERFORMANCE**
A quorum of trustees met on two occasions, March 8[th] and November 14[th] . We welcomed two new trustees and a new Chairman. A summer meeting had to be cancelled as a quorum could not be found due to illness. During the year the Centre gradually increased its numbers due to changing Covid restrictions. PPE is still worn, supplied free until supplies run out. During the year it became necessary to purchase gloves.
Safety checks on the building are organised by OSJCT and all certificates held by them. It was noted that we need to keep a record of all checks made on our part of the property. All staff are DBS checked.
Finance. We were left a generous legacy in the prior year which has been invested. Daily subscriptions were increased with no problems. There is a two year plan in place to bring all clients in line, paying the same subscription. Subscriptions had been held in two accounts, one general and one funding activities. These have now been merged. Additionally, we recognised the need for regular back up of financial data kept on record.
1
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
Agreements with WCC Community Services means we are now on their preferred providers list. A successful review was made in November by ‘Living My Life Alliance’.
A plan was put into place to ensure smooth running of the Centre should the manager be ill or away. The need for a membership agreement was recognised detailing expectations on both sides.
The trustees have looked into the possibility of becoming a Charitable Incorporated Organisation. We continue to monitor our investments. Discussion is ongoing concerning increasing our provision if space becomes available.
The Centre is very fortunate in having a very capable manager who was the recipient of a Community Award. Our staff are dedicated and caring, focussed on supplying a varied programme while supporting needs and offering a happy and friendly environment.
## **FINANCIAL REVIEW**
In October 2022 it was predicted that the operating loss for 2023 would be £13,650. However, the draft accounts for the year to 31[st] December 2023 show a loss of £20,941 (£75,264 expenditure, less £54,323 income).
Although this result is disappointing, the net gains in the value of our investment portfolio through the year of £14,135 go some way towards eliminating the deficit leaving an overall loss of £6,806.
Receipts from donations were only £308 and there was no income from legacies. This contrasts with last year where £44,094 was received from these two sources, and £136,210 received the year before that.
The new subscription rates had the effect of more than doubling the total received (2023 - £36,639; 2022 - £16,606). However, the continuing restrictions in member days post Covid meant that subscription income still feel well short of the original estimate of £50,000. The next financial forecast for 2024 and beyond will need to recognise the continuing difficulty in recruiting new members and maintaining member day numbers.
Amenity contributions describes income from the previously titled “Gubbins” money. The Gubbins bank account was closed in March 2023 and the balance transferred to the Centre’s bank current accounts. 2023 benefitted from this oneoff transfer of £6,301, as well as a further £2,310 in ongoing member contributions resulting in a total figure of £8,611.
The total investment income for 2023 was £7,623 compared with £7,925 for 2022.
Expenditure rose by £10,086 in the year (2023 - £75,264; 2022 - £65,178). This was mainly due to an £8,652 increase in salaries, reflecting the significant effect of the Nation Minimum Wage operative from April 2023.
2023 benefitted from a £744 net profit on the sale of investments, compared with a £12,745 loss in 2022. In addition, there was a £13,391 unrealised net gain on the revaluation of the portfolio at the year-end, compared with a £18,698 net loss in 2022.
The value of investments, including cash held by Cazenove, increased by a net £11,381 in the year from £416,613 to £427,994.
The figure of £4,125 for creditors is the amount due to the Order of St John for rent (33 months at £1,500 pa).
2
THEJO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED
REPORT OFTHE TRUSTEE5
FOR THE YEAR ENDED31 DECEMBER2023
RESERVES POUCY
It is the intention of the Trustees that the freely av3ilable reserves of the charity should be accumulated up to a level
sufficiÈnt to ensLJre the continuance of its actlvities. should there be an unexpected short-term. adverse fluctuation in
income. Reserves are held to cover running costs, includin8 W3ges. should there be a gap in fundin8.
ON BEHALF OF THE TRUSTEES:
r (Chairman)
M Hitchin8S
re
urerl
Date: i¥
I,Iz
THEJO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF
THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED
FOR THE YEAR ENDEO 31 DECEMBER 2023
I report to the trustees on my exarnination af the accounts of the Jo Benson Day Centre ForThe Physlcally Handicapped for
the year ended 31 December 2023 which comprises the ststement ol financlal activities, the balance Sheet and the noles
to the account5 set out on pages 3 to 8.
Respective responslbllltles of trustees and examlner and basls of report
As the charivs trustees you are responsible for the preparation of the accounts in accordan with the requirements of
the Charitie5 Act 20111.the ACVI.
I report in re5pert of my examination of the charitvs accounts carrled out under section 145 of the Att and in tarrying out
my eyaminatlon I have followed all the applicable Directlons given by the Charity Commission under section 14515llbl of
theArt.
Independent examlhèr's statemènt
I have completed my exarnination. 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..
accountin8 records were not kept in respect of the charity as required by section 130 of the Act; or
the account5 do not accord with those records,. or
the accounts do not comply wlth the appllcable requirements toncèrning the fom 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 vlew, which is not a matter consldered as part of an independent examination.
I have no conrnS and have come across no other matters in connectlon with the examination to which attention should
be drawn it) this report in order to enable a proper understanding of thè accounts to be reached.
T Austren8 FCA CTA
Fawcetts LLP
Chartered Accountants
Windover House
St Ann Street
Salisbury
SPI 2DR
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **(All Unrestricted Funds)**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies:
Donations
Donated services
Legacies
Charitable activities:
Members subscriptions
Amenity Contributions
Other:
Functions
Investment income
2
**TOTAL INCOME AND ENDOWMENTS**
**EXPENDITURE ON:**
Charitable activities
3
Support costs
4
**TOTAL EXPENDITURE**
Net gains / (losses) on investments
9
**NET EXPENDITURE**
**OTHER RECOGNISED GAINS / (LOSSES):**
Gains / (losses) on revaluation of investments
9
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**Total funds carried forward**|**2023**
**£**
**£**
308
1,000
-
1,308
36,639
8,611
45,250
142
7,623
**54,323**
65,419
9,845
**75,264**
744
**(20,197)**
13,391
**(6,806)**
470,525
**463,719**|**2023**
**£**
**£**
308
1,000
-
1,308
36,639
8,611
45,250
142
7,623
**54,323**
65,419
9,845
**75,264**
744
**(20,197)**
13,391
**(6,806)**
470,525
**463,719**|**£**
10,933
-
33,161|**2022**
**£**
44,094
16,606
313
7,925|
|---|---|---|---|---|
||36,639
8,611||16,606
-||
||||||
|||**54,323**||**68,938**|
|||65,419
9,845||57,017
8,161|
|||**75,264**||**65,178**|
|||744
**(20,197)**
13,391||(12,745)
(8,985)
(18,698)|
||||||
|||**(6,806)**||**(27,683)**|
|||470,525
**463,719**||498,208|
|||||**470,525**|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
5
THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED
BALANCE SHEET
AS AT 31 DECEMBER 2022
2023
2022
Note5
Flxed A55et Investments
Equltles
United Kingdorn
Europe exd. United rngdOm
North America
Japan
ia excl. Japan
Emerging Markets
Global
17,235
18,410
5,943
55.162
4,248
10.834
7.586
56,399
54,325
13,636
10,487
8,9
50,333
Bonds
Unlted Kingdom
North Amerlca
Emeiging Markets
Global
48.448
20,245
11.138
15.437
31,836
46,305
32,980
Altèrnatives
Hedge Funds
Cornmodities
Other
23.440
25,145
24,610
322,488
16,088
21,061
25.441
332.293
Multi Asset Fund
104,765
48,951
Schroder Cash Deposit
741
427.994
35.369
416.613
CurrentAssets
Debtors
Cash at bank and in hand
io
2,916
36,934
39,850
1.566
55,269
56.835
Creditors- arllounts falling due within one year
li
4,125
2.923
Net Current Assets
35,725
53.912
Net Assets
463,719
470.525
Chari
funds
General Fund
463.719
463.719
470,525
470.525
The Financial St3ternents were approved and authorised for Sssue by the Trustees on 14 May 2024 and signed on behalf of
the board of Trustees by:
Chairm
M Hitchin85 ITTea5urerl
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**
## **A) GENERAL INFORMATION AND BASIS OF PREPARATION**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
All Fixed Assets are written off in the year of purchase.
## **Changes to Previous Accounts:**
No changes have been made to Accounts for previous years.
## **B) FUNDS**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **C) INCOME RECOGNITION**
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.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
7
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **C) INCOME RECOGNITION (CONTINUED)**
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
## **D) EXPENDITURE RECOGNITION**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Expenditure on charitable activities includes salaries, functions and rent.
- Other expenditure represent those items not falling into the categories above.
## **E) SUPPORT COSTS ALLOCATION**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.
The analysis of these costs is included in note 4.
## **F) INVESTMENTS**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
## **G) DEBTORS AND CREDITORS RECEIVABLE / PAYABLE WITHIN ONE YEAR**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **2. INCOME FROM INVESTMENTS**
|Dividends - equities
Interest – fixed interest securities
Unit Trust distributions|**2023**
**£**
3,360
555
3,708
**7,623**|**2022**
**£**
4,700
388
2,837|
|---|---|---|
|||**7,925**|
8
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
|Salaries and agency costs
Members amenities
Functions
Rent|**2023**
**£**
63,919
3,145
-
1,500
**68,564**|**2022**
**£**
55,267
-
250
1,500|
|---|---|---|
|||**57,017**|
## **4. ANALYSIS OF SUPPORT COSTS**
|Investment advisor fee
Office supplies, telephone and broadband
Insurance
Independent examination fee
Recruitment costs
Other|**2023**
**£**
1,952
1,395
819
1,000
-
1,534
**6,700**|**2022**
**£**
1,667
1,230
656
-
3,323
1,285|
|---|---|---|
|||**8,161**|
## **5. GRANTS AND DONATIONS**
No grants or donations were made in the year.
## **6. INDEPENDENT EXAMINER’S REMUNERATION**
There were no fees paid to the independent examiner.
## **7. TRUSTEES’ AND KEY MANAGEMENT PERSONNEL REMUNERATION EXPENSES**
The trustees neither received nor waived any remuneration during the year (2022: £NIL). The trustees are considered to be the key management personnel of the charity.
No payments were made to a third party for expenses incurred by a trustee (2022: £NIL).
9
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **8. STAFF COSTS AND EMPLOYEE BENEFITS**
|Paid Employees:
Gross Salaries
Employer’s pension contribution
Total Staff costs
Engaged in caring for clients
Management and Administration
Total|2023
£
63,438
481
63,919
No.
3
1
4|2022
£
54,800
467|2022
£
54,800
467|
|---|---|---|---|
|||55,267||
||||No.
3
1
4|
No employees received total employee benefits (excluding employer pensions costs) of more than £60,000 (2022: none).
## **9. FIXED ASSET INVESTMENTS**
**Analysis of change during the year:**
|Market value brought forward
Purchase of investments
Sale proceeds
Profit/(Loss) on sale
Net gain on revaluation
Market value carried forward|134,242
(102,367)
744|**£**
381,244
32,619
13,391|
|---|---|---|
|||427,253|
Investments at fair value comprise:
|Quoted investments (as above)
Cash within investment portfolio|**2023**
**£**
427,253
741
**427,994**|**2022**
**£**
381,244
35,369|
|---|---|---|
|||**416,613**|
10
## **THE JO BENSON DAY CENTRE FOR THE PHYSICALLY HANDICAPPED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **10. DEBTORS**
|Trade debtors
Prepayments
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors|**2023**
**£**
2,414
502
**2,916**
**2023**
**£**
4,125
**4,125**|**2022**
**£**
1,149
417|
|---|---|---|
|||**1,566**|
|||**2022**
**£**
2,625|
|||**2,625**|
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **12. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the year (2022: £NIL).
No amounts were owing to or from Trustees, persons connected with them or other related parties, by the Charity at the year end.
## **13. OTHER ITEMS**
a) The Charity has no Endowment or Restricted Income Funds.
b) The Charity has no material commitments not provided for in the Accounts.
c) The Charity has not given any guarantees to third parties in the year.
d) The Charity has not received or granted any loans in the year.
e) The Charity has not made any ex-gratia payments in the year.
11