Registered Charity 265054 The Bernard Herridge Charity Report and Financial Statements Year ended 31 March 2022
The Bernard Herridge Charity Year ended 31 March 2022 Contents Section Page Trustee's report Slalemenl of Trustee's responsibilities in respect of the Trustee's annual report and the financial statements Independent examinels report Slalemenl of financial activities Slalemenl of financial position Stslemenl of cash flows Notes lo financial slalemenls 10
The Bernard Herridge Charity Year ended 31 Maich 2022 Trustee's Report Objectlves and activities The objective of the Charity is lo provide support to meet the needs of older people in Somersel and Dorsel. The Charity lets six bungalows in Wincanlon and Bourlon. The Trustees confirm that they have referred to Ihe guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's objeclives and in planning future aclivilies. Achievements and performance No donations were made during the year {2021'. £5,000). Financial review At 31 March 2022 the value of the fund was £668,00012021.. £697,000). The six properties let. prodUd rental income of £31,00012021'. £29,000). All funds held are unreslricled. The properties held by the Charity have a nel book value of £443,000 excluding componenls12021.' £445,000). The remainder of the fund is held as cash and investments which are held in order lo meet any unforeseen expenditure that may occur, for example properly repairs. Structure, governance and management The Bernard Herridge Charity is established under a Trust Deèd and is an unincorporated charity registered with the Charity Commission, under registered charity number 265054. Hasloe Housing Association Limited is the appointed Corporate Trustee of the Charity. Hasloe Housing Association Limited is a charitable housing association incorporated under the Co-operative and Community Benefit Societies Act 2014 and a Registered Provider of Social Housing. Hasloe has an agreement to provide management services to the Charity for a fee. Directors of the Corporate Trustee are drawn from a wide background bringing together professional. commercial and local expertise. Going concern The trustees consider that there are no material uncertainties about the Charity, and are of the view that the Charity is a going concern. Consideration has been given lo the budgeted cash outflows of the next 12 months along with the Current level of funds held. The Iruslees are satisfied that there are adequate resources available lo continue lo fund the activities of the Charity for a period of al least twelve months from the dale of signing the financial slalements. The trustees are of the view that the Charity is a going concern. Disclosure of Information to the Independent Examiners The Trustees who held office al the dale of approval of this Trustees, Report confirm that, so far as they are each aware, there is no relevant information of which the Charity's Independent Examiners are unaware, and each Trustee has taken all the steps that they ought lo have taken as a Trustee lo make themselves aware of any relevant information and lo establish that the Charity's Independent Examiners are aware of that information.
The Bernard Herridge Charity Year ended 31 March 2022 Trustee's Report (continued) Reference and administrative details The directors of the Corporate Trustee during the year and up to the dale of signing these Financial Slalemenls were.. John Brulon lappoinled 13 May 20211 Lindy Morgan lappoinled 24 March 20221 Jo Lavis lappoinled 14 May 20221 Martin Huckerby Lisa Hughes Omadevi Jani (appointed 13 May 20211 Chris Parsons Julie Pearce-marlin Anne Perkins (resigned 6 November 20221 Robert Rutledge Richard Quallington Andrew Wiseman Ed Buscall (resigned 12 May 2022} Andy Moore (resigned 10 February 20221 Principal Office: Marina House 17 Marina Place Hampton Wick Kingston Upon Thames Surrey KT14BH Principal Bankers: Lloyds Bank plc 17 Heath Road Twickenham Middlesex TW14AW Independent Examiner BDO 2 City Place Beehive Ring Road Gatwick West Sussex RH6 OPA
The Bernard Herridge Charity Year ended 31 March 2022 Statement of Trustee's responsibilities in respect of the Trustee's annual report and the financial statements The Trustees are responsible for preparing the Annual report and the financial statements in accordance with applicable law and regulations. Charilylgw requires the Trustees lo prepare financial slalemenls for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (Unileci Kingdom Accounting Standards and applicable lawl Under charity law the Trustees musl not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the slate ol affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity lor that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitsble accounting policies and then apply them consislenlly", make judgements and accounting eslimales that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the financial s121emenls', prepare the fi'nancial slalements on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that the Iinancial slalemenls 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. The report of the Trustee was approved on 10 November 2022 and signed on ils behalf by.. L Morgan Trustee
The Beinard Herrid9e Charity Year ended 31 March 2022 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BERNARD HERRIDGE CHARITY I report to the trustees on my examination of the accounts of the Charity for the year ended 31 Maich 2022. which are sel out on pages 7 to 13. This report is made solely lo the charity's Iruslees. as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the charity's Iruslees those mallers l am required lo slate lo them in an independent examiner's report 3nd for no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the charity's Iruslees as a body, for my work, for this report, or for the slalemenl I have made. Responsibilities and basis for report As the Iruslees of the Charity you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 I'the Act l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material mallers have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements concerning the form and content of the accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view, which is not a maller considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no cOnrnS and have come across no other mallers in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Signed.. Name.. Applicable Iisled body.. Other relevant professional qualificationlsl or membershlp of professional bodies lif anyl.. Address. 2 City Place, Beehive Ring Road, Gatwick, West Sussex RH6 OPA Dale.. 21 November 2022 NL *AfvI
The Bernard Herridge Charily Year ended 31 March 2022 Statement of Financial Activities for the year ended 31 March 2022 2022 £'ooo 2021 £'ooo Notes Incoming resources Income from charitable activities 31 29 Total income and endowments Expenditure on Charitable activities Other Net gain on investments 31 29 151 1521 1601 Total expenditure 1551 Net ex endlturel Net movement In funds 29 26 Total funds brought forward 697 723 Total funds carried forward 668 697 All amounts relate lo continuing aclivilies.
The Bernard Herridge Charity Year ended 31 March 2022 Statement of Financial Position at 31 March 2022 2022 £'ooo 2021 £'ooo Notes Fixed assets Tangible fixed assets - Housing properties Other investments 464 467 Total Fixed Assets 467 470 Current assets Cash and cash equivalents 220 243 220 243 Creditors.. amounts falling due within one y_ear Net current assets 16 201 227 Total assets less current liabilities 668 697 Net assets 668 6971 The funds of the charity Unreslricled funds 668 697 Total charit funds 668 697 Approved by the Trustee on 10 November 2022 and signed on 115 behalf by.. L Morgan Trustee
The Bernard Herridge Charity Year ended 31 March 2022 statement of Cash flows for the year ended 31 March 2022 2022 2021 £'ooo £'ooo Cashflows from operating activities Nel cash oulflow from operating activities 1231 128} Net cash from o eratin activitles 23 28 Net change In cash and cash equivalents 1231 1281 Cash and cash equivalents al start of year Cash and cash equivalents al end ol year 243 220 271 243
The Bernard Herridge Charity Year ended 31 March 2022 Notes to the financial statements 1. Accounting Policies Basls of preparatlon The financial slalemenls have been prepared in accordance with the Slalemenl of Recommended Practice.. Accounting and Reporting by Charities (Charities SORP IFRS 10211 and the Financial Reporting Standard t02 applicable In the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as il applies from 1 January 2019 The Charity is incorporated in England. The charity'5 registered number is 265054 and ils registered office is Marina House, 17 Marina Place, Hampton Wick, King51on upon Thames, Suriey KT14BH. The Charity constitutes a public benefit enlily as defined by FRS102. Going concern The Iruslees reviewed the charity's budget for the period lo 31 March 2023 in January 2022 and were conlenl that these plans were affordable. The trustees have a reasonable expectation that the Charity has adequate resources lo continue in operational existence lor the foreseeable future. The Charity therefore continues lo prepare the accounts on a going concern basis. Significant management judgements There are no management judgements made in the process of applying the accounting policies of the charity that are deemed lo have a significant effect on the financial slalemenls. Estimation uncertainty Information about eslimales and assumptions that have the most significant effect on rec(4nition and measurement ol assets, liabilities, income and expenses is provided below. Actual results may be subslanlially different. Useful lives of depreciable assets Management reviews ils estimate of the useful lives of depreciable assets al each reporting dale based on the expected utility of the assets. Uncertainties in these eslimales relate lo Changes to decent homes standards which may require more frequent replacement of key components. AumUlated depreciation al 31 March 2022 was £63,00012021'. £60,000). Incomlng resources Incoming resources consist of rent. Income is recognised on the basis of when il is probable that the income will be received and the amount receiv8ble during the year. Resources expended Resources expended include allribulable VAT, which nn01 be recovered. Resources expended are recognised on an accruals basis. fjo
The Bernard Herridge Charity Year ended 31 March 2022 Notes to the financial statements (continued) Accounting policies {continuedl Tangible fixed assets Housing properties are slated al cost less depreciation. Cost includes the cosls of acquisition, consliuclion, and amounts In respect of direct cost of development, and inlerèsl payable on loan finance for schemes during development. Depreciation is provided in respect of buildings lo write down the nel book value lo the eslimaled residual value, on a slraighl line basis, over their eslimaled useful economic life. The depreciable arnounl Is the original cost less the residual value. The residual value is the original cost of the freehold land. The eslimaled useful life is one hundred and fifty years. Depreciation is provided in respect of components to write off the value over the useful economic life. The eslimaled useful life of components are as follows.. Roofs and related 50 years Kitchens 15 years Bathrooms 20 years Central healing systems 20 years - Windows and doors 30 years Fixed asset investments Inve8lmenls are a form of basic financial instrument and are initially recognised al their transaction value and subsequently measured al their fair value using the quoted market pri. The statement of financial activities includes the nel gains and losses arising on revaluation throughout the year. Funds structure All funds held are unrestricted. Unreslricled funds are those which the trustees are free to use for any purpose in furtherance of the charitable objectives. 2. Resources expended on charitable and other activities 2022 2021 £000 £000 Donations Direct property expenditure Depreciation Hasloe management charge Independent examination fee for these financial statements 43 42 60 57
The Bemard Herridge Charity Year ended 31 March 2022 Notes to the financial statements (continued) 3. Trustees remuneration The Trustee received no remuneration or expenses in the period {2021.' £nill. The Charity does not employ any staff hence Ihere are no staff costs12021'. £nill. The management charge from Hasloe includes staff costs of £36,000 (2021. £35,000). 4. Tangible fixed assets - Housing properties Land and buildings £000 Components £000 Total £000 Cost Al 1 April 2021 500 27 527 At 31 March 2022 500 27 527 Depreciation Al 1 April 2021 Charge for the year 55 60 Al 31 March 2022 57 63 Net book value At 31 March 2022 At 31 March 2021 443 445 21 22 464 467 5. Investrnents- UK equities 2022 2021 £000 £000 Market value al 1 April Uniealised gain on revaluation 6. Creditors: amounts falling due within one year 2022 £000 2021 £000 Rent & service charge in advance Other creditors Amounts due to parent undertakings 12 10 16 12
The Bernard Herridge Charity Year ended 31 March 2022 Notes to the financial statements {continued) 7. Reconciliation of net expenditure to net cash outflow from operating activities 2022 £000 2021 £000 Net expenditure Depreciation of tangible fixed assets Revaluation of investments Decrease in debtors Increasel decrease in creditors Net cash outflow from o oratin 1291 (261 121 activities 23 27 8. Net funds reconciliation Acquisition & disposal New finance leases £000 Other non.cash 31 March changes 2022 £000 £000 April 2021 Cash flows subsidiaries £000 £000 £000 Cash at bank and in hand 243 220 Net fundylldebtl 243 23 220 9. Related Parties During the year, Hasloe Housing Association Limited charged £43,00012021.' £42,000) for services provided lo The Bernard Herridge Charity. Al 31 March 2022, The Bernard Herridge Charity owed Hasloe Housing Association Limited £12.000 12021.. £10,000) There is no ultimate Controlling party. 13