CHARITY NUMBER: 267638 CHARITY OF WILLIAM BRERETON FOR THE POOR REPORT AND RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITY AND REGISTERED WITH HOMES & COMMUNITIES AGENCY REGISTERED NUMBER A0831 ASTON SHAW ACCOUNTANTS THE UNION BUILDING 51-59 ROSE LANE NORWICH NR118Y
CHARITYOF WILLIAM BRERETON FOR THE POOR REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Contents Report of the Trustees Independent Examinerfs Re1 Income and EXpeilure A¢xnunt Balance Sheet Notes to the Financial Statam&*s
CHARITY OF WILLIAM BREREfoN FOR THE POOR REPORT OF THE TRUSTEES The Truslees present their Annual Rem arKd the audited ffftancial stalement5 01 the CharitabSe Trust for the year ended 31 March 2024. STATEMENT OF TRUSTEES. RESPONSIBIUTIES Housing Association legislation requires the truslees lo Kyepare the financial statements for eath financial ar which give a true and fair view of the stale of the Charitable Trust as at the end of the financial year and the income and expenditure of the Charitable Trust for the year ended on that date. In preparing those financi81 slatemenls. suitable accounting poliCS have Ln used, fram, lo Ihe best of the trustees knowledge and belf, by referen lo reasonable and prudent jLNJgements and estimates and applied consistently. Applicable accounting standards have been followed. The trustees are also required to indicate where the financial slalemenls are prepared oiher than on the basis that the Charitable Trust is a going concem. The trustees are responsible for ensurng that arrangements are made for keeping proper books of account with Spect lo the Charitable Trust transaclKJns and lis assets and liabilrties and for remaining a satisfactory system of control over the Charrtable Ttust's b(kik5 of account and transacth)ns. The tiuslees are also responsible for ensuring that arrangements are made lo safeguard the assets of the Charitable Trust and hence tskirKJ reasonable steps for the Fyevenlion aThJ detection of fraud and other iegular¢t1e5. PRINCIPAL ACTIVITIES & PUBUC BENEFIT The Iruslees have considered the Charity Commission gUidce on public efft. and, in particular lo relieve poverty. The charity seeks lo do this throLh f(s Pri1paI activity which is lo provKle almshouses f the poor within a loc21 area at mcxyesl costs. BUSINESS REVIEW The Iruslees are of the opinion that the resuks for the year we sattsfacacry. RESULTS The surplus for the year amounted to £17.W {2023.. £1.070) which has been transferred from reserves. TRUSTEES Details of the trustees who swved during the year are as follows.. Mr R G Palmer Mrs P Purcell BY ORDER OF THE BOARD OF TRUSTEES Mrs P Purcell Dated I-z-2Dz< Page 1
INDEPENDENT EXAMINER"S REPORT TO THE TRUSTEES OF CHARITY OF WLLIAM BRERETON FOR THE POOR WÈ report on ihe Accounts of the Charity of William Brereton for the Pcor for the year ended 31 March 2024. Respective Responsibilities of Trustees and Examiners The charity's trustees are resAonsible for the prepa{atn of the a¢unIs. The charity's twstees cOnSer that an audit is not required for this year under sectj.on 144{21 of the Charitses Act 2011 Itl)e 2011 Aci) an(S that an independent examFnalion is needed. 11 is my responsibility to= examine the accounts under sedion 145 01 the 2011 Act . lo follow Ihe procedure5 laid down in the general Directions given by the commisston undef section 14515llbl of the 2011 Act .10 stale whether particular matters have corne to my aitention Basis of Independènt Examinerfs Report Our examinaiion was carTied out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting rècords kepl by Ihe charty anof a cofflparison of the accounts presented with those records_ 11 also include5 consideration of any unusual ilems or disclosures in the ac¢oiJnls and seeking explanations from you as trustees con¢eming any such mallers. The proCedUS un(lertaken do not provide all the edefice Ihal would be required an audTrt and consequently we do not express an audit opinion on the view given by the accounts. Independent Examiner's Ststement In Connection wilh OUT 8xamination, no matter has come lo our attention which gives us reasonable cause to believe that in any material respects thè requirements". To keep accounting COrdS in accordan¢e wilh se¢tK)n 130 01 the 2011 Act.. and To r4epare accounts whith accord with Ib.e accounting COrdS and lo compb/'.vith Ihe ac(x>unting reqtjiremenls ol the 2011 Act have not been met or. lo which in our opinion, attenlion should be dF3wn in order lo enable a proper understanding of thè Accounts lo be re3ched. Solos Christophi FCCA Association ol Chartered Certified Accountants Aston Shaw Limited The Union Building .41-59 Rose l ane Norwich Norfolk NR1 1BY Dated 14 loi /ooJ5 Page 2
CHARITY OF VIILLIAM BRERETON FOR THE POOR INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2024 2024 2023 Notes TURNOVER Incorne 2210 2,500 Expendilure on Letting Activities: Depreciation Property Insuran NAA Subscription Repairs & Renewals Accountancy and ExaminalK)n fee 410 567 46.8 305 599 8S) 48.765 1.819 OPERAMNG SURPLUSIIDEFICID ON LETnNG ACTIVITIES (46.555) 681 Interest and Dividends ReIVed M&G Charity Multi Asset Fund Wthdrawal 763 62.855 389 Surplus I(Def> on Ordinary Acbvities 17,CE2 1,070 SURPLUSI{DEFICIT) FOR THE YEAR 17,C62 1,070 Page 3
CHARITY OF WILLIAM BRERETON FOR THE POOR INCOME AND EXPENDITURE ACCOUNT- CONTINUED YEAR ENDED 31 March 2024 2024 2023 STATEMENT OF RECOGNISED GAINS & LOSSES General Funds: Income and Expenditure Account Balae Btoughl Forward SurplusllDeficil) for the Year 32,027 17,062 30,956 1,070 Balance Larried Forwara 49,089 32,027 Designated Repair Fund: Balance brought forward Accumulation shares - Cost of withdrawn 581 NAACIF sh*es SurplusllDeficitl in Revaluaion of 992 NAACIF Shares 3,849 {1,461) 16 3,874 {251 Balance carried forward 3,849 Endowrnent Funds: Permanent Fund Balan Brought Forward SurplusllDeficill on Revaluation of 2286 NAACIF Share5 Freehold Property- inerease u) valuation 174,504 170,608 {581 3,954 4,045 Balance Carried Forward 178,585 174,504 Total Funds T).078 210,380 The Charitable Trusl has not ao]uired or dIscctinUed any furKIental aclivrties during the aL¥)ve financial years. Page 4
CHARITY OF WILLIAM BRERETON FOR THE POOR BALANCE SHEET AS AT 31 March 2024 2024 2023 Notes FIXED ASSETS Permanent Freehold Property at Valuation Computer Equipment 179,923 175,878 Investment." NAACIF 2,286 Income Shares 2,078 2,042 REVENUE Investfflent.. NAACIF 992 Income Shares 8 Accumulation Shares 1,481 183.303 180,287 CURRENT ASSETS B8rclays Bank Current Acco1 Barclays Bank Deposil Account Charities Deposit Fund TSB Premium DeFw)sil Account Lloyds Bank Treasurers Accwnt TSB Current Account Prepayments 18,888 6,089 15,405 6,343 16,154 27 110 27 74 47.625 30,943 CURRENT LIABILITIES Trade Cfeoltors Accruals NET CURRENT ASSETS 46.775 30,093 230,078 210,380 RESERVES Gener21 Funds Designated Repair FutJJ Endowment Funds 49.089 32,027 3,849 174,504 178.5&5 230,078 210,380 Page 5
CHARITY OF VIILLIAM BRERETON FOR THE POOR BALANCE sHE- CONTINUED AS AT 31 March 2024 The financial statements on pages thr to nine were ar4xoved by the Board of Tnjstees on and are signed on its behatf". Tfuslees.. Mr R G Palmer Datgj: Z2.1.2£ Mrs P Pur11 Dated". The notes on pages seven lo nne f(Thi part of Ihese final ststements PaJe 6
CHARITY OF WILUAM BREREfoN FOR THE POOR NOTES TO THE FtNANCIAL STATEMENTS YEAR ENDED 31 March 2024 ACCOUNTING POLICIES The.signtficant accounting policies used in the Wepalon of these statements are.. Basis of Accountin The Accounts comply wilh the Homes & CunmunilEs Agenw (fomerty the Tenants Service Agency) Accounting Requirements for RwJistwed soal Landlords Deterniinalion 1997 as amended 2012 and are prepared tllider the historical cost convention, sutr4.ect lo the revalualK)n of certain fixed assets. V*e the original cost of the fixed assets and investments is not known, they have been rdlected Tri the ACcots at Iheir current value. Housin Pr Housing properties are revaFued arlty by the trttstees to their market value. The aggregate surplus or deficrt revaluatFCn ts transferred to a revaluation reserve and, as housing properties are maintained in a stale of repair such their esttmated residual value is not less than their cost or valuati amoun( the amual charge for depreciation would be Provis Fulufe C clical Re airs and Matnlenarte. The Charitable Trust FXOVKJes fry fuiure cythl repairs maintenance in the form of 992 NAACIF income shares representing the exFEndable funds. The Charitable Trust also hold 8 NAACIF accumulation shares {2023: 589) rewesenting the extraordinary pair fund undertaken in the year ended 31.03.2024. TURNOVER FROM LETnNGS 20?4 Turnover from lettings comprises: Rents 2,210 2,500 Paje 7
CHARITY OF WILLIAIA BREREfoN FOR THE POOR NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 March 2024 CONTINUED INTEREST RECEIVABLE AND OTHER INCOME 2024 2023 Bank Deposrt Interest Dividend Income M&G Charity Mutti Asset F[d Wthdraw 749 14 108 63.618 116 SURPLUS ON ORDINARY ACTIVIMES BEFORE TAXATION Charity of William Brerelon lor the Pocff is a Chty and. as is exempt from liabilty to laxalior) on its Ineome and Capilal Gans. TANGIBLE FIXED ASSETS Completed Housing Properties Computer Equipment VALUAMON Al 1 April 2023 Surplus on Revalu81ionlAddilions 175,878 4.045 422 As at 31 March 2024 179,923 422 DEPRECIATION Al 31 March 2024 42 NET BOOK VALUE Al 31 March 2024 175.878 At 31 March 2023 171,923 Under the most rnt SORP there LS a ]UreMent to deFYeciale freehokj pyopety. Cost details are not available. Apping the SORP lo charge depreciation based on cc61 would show them at nil value being fully depreciated. Past praCte has bn to revalue the proleS based on market value. This practice is continued and believed to rellect a con5ervats.ve value. P4e8
CHARITY OF WILLIAM BRERoN FOR THE POOR NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTINUED FIXED ASSET INVESTMENTS Pennanenl. The Charrtable Trust holts 2, NAACIF irKome shares Presenting the pemianenl endowment of the Charrty. The orKJinal cosl of these shares is not known and they have been reflected in the Bal St1 ai thw mahet value C 31 March 2024. Revenue. The Chantable Trust h)Ids 932 NAACIF IrMe shares forfLrture cyclical repairs and maintenance. The ortsJinal cosl d these shares is not kn. and Ihey have been refflected at their market value on 31 2024. The Charrtable Trust ncw holds 8 NAACIF AcAwmuktN)n shares 1589 shwes.. 2023) representing Ihe future extraordinary repar furnl of Chanty. These shares are shown as cost in Ihe BalanTr Sheet (Market value as al 31 March 2024.. UJ512023: £63,416}1. 581 shares were sold and funds wrthdrawn on the 11.04.20Z3 03.11.2023. RESERVES The Almshouses Memorandum dated 1 April 1971 provides that in addition lo routine maintenance the Charity should provide £fA) annually n respect of extra)rdinwy repaws and £11J) for cyclical repairs. During the year net distribution5 totalling £271 were made rn the irNestrnent in 8 NAACIF Accumulation Shares, which were invested in the Mding and over a given the current market value of the holding, cover this requirement, taken on a yew-by-yw basis. In the year the fLxed assets reVenl investments have been idenlffied a5 a Desunated Repair Fund. CAPITAL COMMITMENTS Capit81 expenditure th81 has bn contracted for bul has not been provided fcx in the in the finaneLal statement Capital expenditure that has been arthiSed by the trustees but has not yel contracted frx CONTINGENT LIABILITIES At 31 March 2024 and 2023 there were rr) knoTr contingent Irabilities. PaJe 9