## **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**
|**Incoming resources (Note 3)**
**Resources expended (Note 4)**
**Income from:**
**Expenditure on:**
**Net Income/(expenditure) before**
**investment gains/(losses)**
**Net income /(expenditure)**
**Total Funds**
**Total Funds**
Investments
Interest
Charitable activities
Bank charges
Raising funds
Net gains/(losses) on investments
brought forward
carried forward
**_Total_**
**_Total_**
**_Reconciliation of funds_**
_Net movement in funds_|**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
|**3**
**Analysis of income**
**4**
**Analysis of expenditure**
3.1 Income from investments
Income from Interest
4.1 Expenditure on raising funds
Portfolio management costs
4.2 Expenditure on charitable activities
Grants to:
Christian organisations
Christian missionaries working abroad
Christian workers in the UK|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.