2024-06-30-accounts - Day House Trust

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THE DAY HOUSE TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

Charity number 269447

THE DAY HOUSE TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

Contents	Page
Independent Examiners' Report to the Trustees	1
Report of the Trustees	2 & 3
Statement of Financial Activities	4
Balance Sheet	5
Notes to the Accounts	6 & 7

THE DAY HOUSE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DAY HOUSE TRUST

I report to the trustees on my examination of the accounts of the above charity ('the Trust") the year ended 30 June 2024 set out on pages 2 to 7.

Responsibilities and basis of report

As the charity's trustees, 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 the 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 my examination which give me cause to believe that, in any material respect:

☐ the accounting records were not kept in accordance with section 130 of the Act; or
☐ the accounts did not accord with the accounting records; or
☐ the accounts did 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 order to enable a proper understanding of the accounts to be reached.

A Worthy ACA 22 Ap

THE DAY HOUSE TRUST

No. 269447

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024

The trustees present their annual report and accounts for the year ended 30th June 2024.

Reference and adminstration details

Governing document

Day House Trust is constituted as a charitable trust registered with the Charity Commission under charity number 269447. It is governed by a principal deed of trust dated 12th May 1971 and supplemental deed dated 1st April 1974.

Administrative Office:	Ross Farm
	Woodside
	Woolaston
	Lydney
	GL15 6PB
Board of Trustees:	I.D. Roberts	- Chairman
	R. Bounds	- Secretary
	J.Bounds	- Treasurer
	K. Bounds
	C. Marshall
	S.H.Cracknell
	A.H. Samuel
	L. Toomer
	G. Agyeman
Independent Examiner:	Anwen Worthy
	157 Arabella Street
	Cardiff
	CF24 4SY
Bankers:	Co-operative Bank
	1 Balloon Street
	Manchester
	M60 4EP
Fund Managers:	Investec
	Festival House
	Jessop Avenue
	Cheltenham
	Glos
	GL50 3SH

Organisational structure

The charity trustees are responsible for the general conduct and management of the charity. The trustees give their time freely and receive no remuneration or other financial benefits.

The trustees meet together twice yearly following receipt of the investment reports for December and June, when they review the fund and level of income and make grants in accordance with the trust deed.

THE DAY HOUSE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH JUNE 2024 - continued

Recruitment and appointment of trustees

New trustees are recruited when necessary and signify in writing their acceptance of the basis of belief and all trustees must sign every three years. New trustees are given a copy of the trust deed and Charity Commission guidance to trustees when invited to join the trust.

Risk management

The trust does not operate in the public domain and it is therefore considered that there are no risks with with regard to the general public. The endowment fund is managed on a discretionary basis by professional fund managers and the fund's performance reviewed at each meeting of the trustees.

Aims and objectives

The objects and aims of the charity are to further the Christian Gospel by grant aiding organisations and individuals engaged in Christian work in the UK and abroad. Grants are not generally made for capital work and consistent support of work is important, particularly where insufficient local funds are available.

Grant making policy

The trustees consider all requests for financial help and, provided the request is for the furtherance of the beliefs set out in the charity's trust deed, will, if possible, give financial help.

If any of the trustees have personal involvement with those receiving or applying for grants they make their interest known and are therefore not part of the decision making body.

Reserve policy

The costs of managing the investments in the endowment fund are borne by that fund, and the only expenditure out of the unrestricted fund is donations, the amount of which is directly related to the income received from the endowment, and bank charges. The trustees therefore consider it unnecessary to retain cash reserves beyond a level to maintain a prudent level of liquidity, set at a minimum of £15,000.

Financial review Total income for year Total grants for year (41 grants to 22 beneficiaries) Other expenses Net gains on investments Net increase in total funds	Total funds £ 36,978 33,500 10,426 51,540
	44,591

Principal fund source

No funds are generated apart from the original endowment and no appeals are made to the general public.

Investment policy

The investment policy is to generate as much income as possible while maintaining the overall value of the fund in line with inflation. The fund is managed by professional advisors.

Public benefit

Funds are provided to organisations and individuals so that members of the public may be made aware of the Christian message and its implications and benefits.

Approved by the trustees and signed on behalf of the trust by:

I.D. Roberts - Chairman

THE DAY HOUSE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30TH JUNE 2024

Unrest- ricted Fund £ 35,520	2024 Endow- ment Fund £	Total 35,520 £	Unrest- ricted Fund £ 35,039	2023 Endow- ment Fund £	35,039 Total £
1,457	10,290	1,457 36,978 33,500 136 10,290 43,926 (6,949) 51,540	450 35,489	10,162	450 35,489
36,978
33,500 136			32,500 119		32,500 119 10,162
33,636	10,290		32,619	10,162	42,781
3,342	(10,290) 51,540		2,870	(10,162) 16,111	(7,292) 16,111
3,342 9,909	41,249 1,060,433	44,591 1,070,342 1,114,933	2,870 7,039	5,948 1,054,484	8,819 1,061,524
13,251	1,101,682		9,910	1,060,432	1,070,342

THE DAY HOUSE TRUST

BALANCE SHEET - 30TH JUNE 2024

Fixed Assets Current Assets Creditors: Net current assets Total assets less current liabilities FUNDS Total fixed assets Total current assets Total funds Investments (Note 5) Debtors (Note 6) Cash at bank and in hand amounts falling due within one year (Note 7) Unrestricted fund Endowment fund Signed on behalf of the trustees by	2024 £ 1,062,908	2023 £ 1,057,267
	1,062,908 125 54,497 54,622 2,597 52,025 1,114,933 13,251 1,101,682 1,114,933	1,057,267 127 15,472
		15,599 2,524
		13,075
		1,070,342
		9,909 1,060,433
		1,070,342

Ian Roberts Roz Bounds Chairman Secretary

THE DAY HOUSE TRUST

NOTES TO THE ACCOUNTS

1 Basis of preparation

1.1 These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts, and in accordance with the Statement of Recommended Practice: Accounting and recording by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, and with the Charities Act 2011. The charity is a public benefit entity as defined by FRS 102.

2 Accounting policies

2.1 Income

Investment income is recognised in the accounts in the year in which it is receivable.

Investment gains and losses includes any realised or unrealised gains or losses on the sale of investments, and any gain or loss resulting from revaluing investments to market value at the end of the year.

2.2 Expenditure and liabilities

Expenditure is included on an accruals basis.

Creditors are measured at settlement amounts.

2.3 Assets

Fixed asset investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end. The Statement of Financial Activities includes the net gains and losses arising on disposals and revaluations in the year.

Debtors are measured at the cash or other consideration expected to be received.

2.4 Related Party Transactions

There are no related party transactions

Unrestricted fund £ 35,520 1,457	fund £ Endowment	Total funds £ 35,520 1,457	Prior year funds £ 35,039 450
36,978 Unrestricted fund £ 16,700 12,100 4,700 33,500	fund £ 10,290 10,290 Endowment	36,978 Total funds £ 10,290 16,700 12,100 4,700 33,500	35,489
			Prior year funds £ 10,162
			15,700 12,600 4,200
			32,500

NOTES TO THE ACCOUNTS- continued

5 Investment assets	2024 Listed investments Prior year £ £	2024 Listed investments Prior year £ £
6 Analysis of debtors 7 Creditors and accruals 8 Trustees remuneration and benefits Carrying (fair) value at beginning of year Additions during the period Less disposals at carrying value Add net gain on revaluation Carrying (fair) value at end of year Accrued income Trade creditors Amounts falling due within one year	1,057,267 121,238 -156,680 41,083	1,044,137 12,894 -16,128 16,364
	2024 1,062,908 £ 125
		1,057,267
		Prior year £ 127
	2024 £ 2,597	Prior year £ 2,524

None of the trustees has been paid any remuneration or received any other benefits from an employment with the charity or any related entity.

No trustee expenses have been incurred and no trustees have been reimbursed for expenses.