Charity number 273229 THE SECOND QUOTHQUAN CHARITABLE TRUST Unaudltsd Flnanclal Statements Year ended 31 December 2021 Second Quothquan Charitable Trust To God be the glory, great thlngs He has done, 18 doing and will do through Jesus Christ His son Independent Examlner Davld Hoose FCA Mazars LLP 2 Chamberlain Square Bimiingham B3 3AX THE SECOND QUOTHQUAN CHARrrABLE TRUST INDEX Gon•ral Infonnation Tru8tees' Report Independènt Examiners Report Statement of Flnancial AcUvlll•s Balance Sheet Notss to the Financlal Statements THE SECOND QUOTHQUAN CHARrrABLE TRUST GENERAL INFORMATION CHARrrY NUMBER 273229 (England & Wates) TRUSTEES Mrs J A Gilmour Mr P J Gilmour Mrs P S Gilmour STAFF Mrs S J Robinson (Administrator) PRINCIPAL OFFICE & CORRESPONDENCE ADDRESS Dale Fami Worcesler Lane Sutton ColdfEld Wesl Mtdkinds 875 SPR BANKERS Barclays Bank Leicester Leicestershire LE87 2BB INDEPENDEpif EXAMINER David Hc4)se FCA Mazars LLP 2 Chamberlain Square Bimiingham B3 3AX SOUCITORS Anthony Collins Soli￿tOrs LLP 134 Edmund Street Birmingham B3 2ES THE SECOND QUOTHQUAN CHARrrABLE TRUST TRUSTEES. REPORT The Trustees present they re[￿rt and financral statements for the year ended 31¥1 Dacember 2021. STRUCTURE AND GOVERNANCE AND MANAGEMENT The TTUSt was eSts1￿lShed as a charity by trnst deed dabj 11th February 1977 with the primary purpose of supporting Christian projects. The charity number is 273229. On 14th January 1980 the Settlor directed that th& income and capitsl of the Trust should be applied. until further notice. in advancing th8 gospel of Jesus Christ and Christianity and such other charitable purp)ses as are consistent therewith ￿ether in the United Kingdom or overseas. Th8 principal oifKe Is Dale Fann, Worcestsr Sutton Coldfièkl. West Midlands, 875 SPR. The trustees listed on page 1, Mrs J A Gilmour. Mr P J Gilmour and Mrs P S Glknour, hav8 hald office throughout the year and to the dale of this rep(Kt. None of the trustees recewed any rernuneration dirxty or irnlirectty from the Chartty nor from its subsidiary. The Tru8te89 hava agreed that as part of the i)duclion wocess lor new tnJ8tees. before anyone ¢onslder8 appointment as a trustee. they should familiarise themsefves wlth responsibilities of charity Iwstee8, read the Charity Commission booklet on thi8 subpGt and carefully read the Trust Deed. the Settbff8 directions and thè latest financial slatements. All non-adrninistratlve decls*)ns are Made by thè TNth8s Njinty. Admlnlstrayve ded8tons arn delegatad oilher to the staff or to a Trustee. Harvest Fields Homes, Ql￿thqUan Homes, Harvest F￿k1$ Centre Ltd and th8 Alfred Halnes Charltsblo Trust a￿ charities that are reLqtedlasso¢laled as they have common tnJstee(slldireclorls) wth thls Trust. The Trustees have revlewed the major risks to which theTrust18 exp)sed. Where practkal and appropriate, steps have been wt In place to manap, miwie or mrniml8e those risks. OBJECTIVES, ACTivmES, ACHIEVEMENTS, PERFORMANCE AND PUBLIC BENEFrr The Objects of the Trust as sel out in its governing document are for such charities or for such charitable purposes and In such proporttyjns and in such manrber and subject lo Such temis and conditlons as the Settlor may from lime to time by notice dire¢l and. $ubp¢l to and in default of any such dlrection and In 80 far a$ Such direc￿n may not extend. as the Truslees may in their uncontrolled discretion del?mlnè. As referred lo above. In 1980 the Settlor made a directM Ihat the ifwme and eApilal of the Trust should bo applied, unts'l further notice, in advancing the gospel of Jesus Christ and Chrfstianlty and such other ¢harltable purposes as are consislanl therewith *thether in the Uniled ￿ngdoM or overseas. The Trustees have taken a¢¢ount of the Charity Commission's general guidance rekting to publi¢ ￿nefIt Issues reviewing the TrusY$ objectives, activitsts and *hiwem8nt8. In addition lo providing rented s￿181 housing in Ihe fomi of t•n apartments aTh1 a cottage, the Tru81 ha8 been providing book4(eeping and admintstration services to related chariti8s (see note 9). Grant4laklng All applications for grants should be addressed to Quothquan Trust of the same address ￿ing the successor io this Trusl in respect of grant making. Publle 8enefft The Trustees ￿nS￿￿er that the Tnjsys achievements and pertoThance met the public benefft test by enabling other registered charitie5 {who meet the public benefft test) to meet their objectives {by providing office space and admlnlstrative support) and by providing rented social housing to those who had been in housing need. THE SECOND QUOTHQUAN CHARITABLE TRUST TRUSTEES, REPORT FINANCIAL REVIEW Investments The Truslees have the power lo invest in such as5els as they see fiL The liquid funds have been held with Barclays Bank plc. The year end balance is £59,628 {2020'. £20,444). Reserves The Trustees would like the uninvesled 'free° reserves lo be at least six months of undesign8led expenditure (the running costs). Al the year end the undesignated reserves were £410,013 12020.. £351,552> which is al least five years of nom)al running costs and so the Trustees consider the financial position lo be satisfactory. STATEMENT OF TRUSTEES RESPONSIBILITIES Charity law requires the Trustees to prepare Iinancial slalemenls for each financial year which give a true and fair view of the stale of affairs of the Trust and of ils financial activities for that period. In preparing those financial statements the Trustees are required lo.. select suitable accounting policies and then apply them consistently. make judgements and aeeounting estimates that are reasonable and prudent. slate whether the polices adopted are in accordance with the SORP and with applicable accounting standards, subject to any material departures disclosed and explained in Ihe financial slalements,. and prepare the financial stalernenls on the going concern basis unless il is inappropriate to assume that the Trust will continue in operation. The Trustee5 a￿ responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the Trijst and lo enable them to ensure that the financial statements cornply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. AUDIT EXEMPTION The Charity is exernpt Irom the requirements lo have ils financial statements audited but, as ils income is above £25.000. il does have them independently examined. Approved by the Trustees on 18 October 2022 and signed on their behalf by J A Gilmour -/_& ex _ INDEPENDENT EXAMINER'S REPORT to the TnMieeB of The SKond Quothquan Charltablo Tw8t For the year end￿ 31 December 2021 I report on the financial statements of The Second Quothquan Charitable Trust for the year ended 31 Decemb8r2021. wh￿h a￿ setout on pages 6 to 11. Respe¢llve responslbllhles of trustoes and examinor The charity's trustees are resF*Msible for the weparation of the finanthal statements. The chariws trustees consider that an audit is not required for this year under section 144{2} of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibilty to.. examine the financial st*ements under section 145 of the 2011 Art fOl￿W the procedures laid down in Ihe gerwal Dir￿li0n$ glven by the Charity Commission under $￿t￿)n 14515}{b) of the 2011 Act and stste whether particuLw matters have eJ)me to my attention. Thls report. including my slatemenL has been prepared for and only for the charity's trustees as a body. My work has been undertaken so that I might $18te lo the ch*iVs trustees those matters l am required to state to them in an independent examinerfs rerort and for no other purwse. To the fullest exlent pemiitted by law. I do not accept or assume responsibilty to anyone other than the charTty and the charlty's trustees as a body for my examination ¥K)rk. ft)r this repor( orfor the statements I have made. Basls of Independent examlnofs report My examination was carried out in accordance with thegeneral Directions given by the Charity Commission. An examination includes a ￿￿eW of the accounting records kept by the charity and a comparison of the ffinan¢ial ststements presented with those records. It a￿0 includes consideration of any unusual items or dlsclosures in the financial statements, and seeking explanation$ frwn you a$ trustees Goncerning any such matters. The procedures undertaken do not wovide all tho evidence that would bg required in an audit and consequenly no opinion is given as to whether the financial statements present a Yrue and tdir vievl and the report is limited to thosé matters set out in the statement beknv. Independent examlnerfs statement In conrEction vrith my examination, whth is c>)mplete, no mailers have come to my attentlon whkh give me reasonable cause to believe that in any material ￿pect accounting records were not kept In respect of The Second auothquan Charitablè Trust in accordance wlth Sect￿ 130 of the 2011 Act: or the financial statements do not accord with those records" or the financial statements do not comply with the applicable requirements conceming the forn and content of financial statements set out in the Charities {Ac¢ounts and Reports) Regulations 2(h)8 other than any requirement that the finan¢ial ststements give a'true and fa￿ view which is not a matter considered as part of an Independent examination. David Hoose (Oct 18, 2022 11:28 GMT+1) Oct 18, 2022 THE SECOND QUOTHQUAN CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES AND SUMMARY INCOME AND EXPENDITURE ACCOUNT Forthe yoar ondèd 31 December 2021 Total Unmtrfcted Fund8 2021 Total Unrn8trlcted Fund8 2020 INCOME FROM: Donatlons Charitable actlvllles 60.000 29,270 29,481 79,270 29,481 EXPENDITURE ON CHARITABLE ACTIVITIES 20,809 24,e42 NET IEXPENDITUREVINCOME FOR THE YEAR 68,461 4,839 NET MOVEPIENT IN FUND8 $8,461 4,839 BALANCE BROUGHT FORWARD 361,662 346,713 BALANCE CARRIED FORWARD 410,013 351,652 All of the above results are derfved from continuing activities. All gain8 and1088es In the year are Included In the above. There were no deslgnatad funds for the year ended 31 December 202112020.. £NII). The notes on pages 8 to 11 ft)rrn part of these financial slatemenls. THE SECOND QUOTHQUAN CHARITABLE TRUST BALANCE SHEET For the year ended 31 December 2021 Notes 2021 2020 FIXED ASSETS Tangible assets 345.680 352,184 345.680 352,184 CURRENT ASSETS Debtors Cash at bank 8.472 59.628 8,177 20,4M 68.100 28,621 CURRENT LIABILITIES Creditors- amounts falling due within one year 13,7671 14.2531 NET CURRENT ASSETS 64.333 24,368 TOTAL ASSETS LESS CURRENT LIABILITIES 410.013 376,552 CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 125,0001 NET ASSETS 410.013 351,552 REPRESENTED BY: UNRESTRICTED FUNDS Undesignated Fund 410,013 351,552 410.013 351,552 The notes on pages 8 to 11 fomi part of these financial statements. Approved by the Trustees on 18 October 2022 and signed on their behalf by J A Gilmour THE SECOND QUOTHQUAN CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS For tha year onded 31 December 2021 ACCOUNTING POLICIES Bas18 of pmparatlon These financlal statements are prepared under the hlstorical cost Conventlon and in accordancé wlth.. The Charities Act 2011 The Companies Act 2008 The Flnanclal Reporting Stsndard applicable In the UK and the Republlc of Ireland {FRS102 Secllon 1A) (March 20181 Accountlng & Reparting by Charftles.. Statement of Rec(Jmm8ndod Practice Icharltles SORP FRS1021 Tha accounts present a tru8 and fair view and no changes In the bas68 of 8￿O￿n￿.ng have been made during the year. There have also been no changes lo the pr8vlous accounts during the financial year. The charlty 18 a pubU¢ benefit entlty. Golng Con¢om The directors are of the vlew that thérè ar8 sufficient re88rve8 to secure the Immedlatè future of th¢ charity for the next 12 to 18 months and on that basis the Charity18 a golng concern. Stat•menl of ca8h flow •x•mptlon A S18tement of Cash Flow8 ha8 not been produced a8 tho charty 18 Within the $mall ¢harlty threshold$. Incom• Donations from Indlviduals ar8 Included on a cash recelved ba818. There would be no material difference If an accruals basls were adopted. Tax recover8ble Is Included In the year to whlch the gift generatlng the tax recov&ry relates laccruals basi8}. Income from Investments and rental income are In¢luded In the SOFA In the year In whlch It Is receivable. Exp•ndltur• Expendlturo Is Included on an accruals bas18 whèn Incurred. Flx•d Tanglblo A888t8 Purchas&s of equipment over £1.500 are capllalisad; othèr118ms are expensed when Incurred In the SOFA. The freehold propertles help In pursuit of the Trust's Objects are Included at cost less any provislon for Impaimi&nt. D8pre¢l•tlon Depreciation Is provlded on equipment at rates calculated lo write off the cost of each asset on Slraight-line basis over three years. Depreciation of freehold land & bulklings, used for charitabl? purp0865. 18 two percent straight lin8 per annum of bulldSng cost Land 18 not depreckqled. Funds The property fund has been set aside to reflect thè èxisting and prospective investment in property. The undesignated fvnd Is that which th8 Trustees are free to use in accordance wlth the Twst's charltable Objecb'ves. Judgaments and EBtlmotlons There are no estlmates orjudgemenls made which have a material impact on the carrying amounts of assets and liabilib'es withln the accounts other than depreciation as detailed above. Flnanclal Instrumènts The Charity only has financial assets and finan¢lal Ilabilitles of a kind that qualify a$ basic financial instruments. Basic financial instruments are initially recognlsed at transacllon value and subsequently measured at thèir satuement value. THE 8ECOND QUOTHQUAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEIIEKrs For th• yoar ended 31 Deumb•r 2021 INCOME 2021 2020 Charltable Income comprlms: tk*nation$ Charges for bookkeeping and adminlstrntion Gr￿ charitable ￿ntaI income 50,000 13,070 16,200 (note 9> 13,281 16.200 T•)tal 79.270 29.481 Gross rentsl income arws from the assets that are hold In pursuant of ￿ charltable object of the Tru$L EXPENDITURE ON CHARITABLE ACTivrriES 2021 2020 Pro￿rty expenses for charitable use Salary, national Insurance, SMP & pen8N)n Depreclalon Other offi¢e costs Independent examlnels fee 817 8,278 1.146 9,975 9,173 2,746 1,602 (note 4) 3,630 1,680 Total 20,809 24,642 STAFF C08T8 2021 2020 Salary Pension Statutory Matemity Pay Credit due frwn HMRC 7,596 14,664 1,352 18,0411 8,278 9.975 Ono p8r80n (2020.. one) was empw on a part Ilme basis by the charlty to asslst wlth the collectbn of rents and dealing with tenants for this and relatedlassctrated charities (see note 9} as well as adminlstralon of thls and rakiled charitss. No one was paid more than £60.000 per annum. The average number oflull time equivalent empbyed was 0.3112020.. 0.26). None ofthe Tru5tee3 {2020'. none) have received any remuneration nor been reimbursed for any expenses. THE SECOND QUOTHQUAN CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS For the year frndod 31 December 2021 TANGIBLE FIXED A8SET8 Btsldmer• Woodotyl• Wood8ty1• Computer Flxtur•s & Land Land Bulldlng Equlpment Total C￿t A8 8t 1 January 2021 Addltion8 Digpo88 31.CP)) 22,CQO 325.200 8.008 14.CQO 400,206 18,oc61 114.CKIOI 122,0061 Al al 31 Dec•mbor 2021 31,OCrtJ 22,C#JO 325.200 378,200 O•prnelatlon As at 1 January 2021 ChBr9e Oiip08a 28,018 6,504 8.008 14.QCW) 48.022 6,504 114.CQOI 122,0061 {8.OC41 Al at 31 Ooeembfjr 2021 32,S20 N•t Book Valu• al 31 D•c•mbor 2021 31,000 22,CA)O 292.680 345,880 A8 8131 Dwmber 2020 31,000 22,¢)JO 299.184 352.184 Boldmere r818t08 to rented soclal apartments (the bulldlng element of whleh had ￿8ft depreciated In full al the beginning of the yearl. Woodstyle relates to a rented social propety (the buildlng element of which was depreclalad at 2%). All land and buildings are freghold, DEBTORS 2021 2020 Rent and adminlstralion Charges recelvable HMRC credit due for statutory maternity pay 2,431 6,041 2,136 6,041 Total debtors 8A72 ,177 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Creditors Accruals 2,087 1,680 2,651 1.602 Total credltors 3,767 4,253 10 The SECOND QUOTHQUAN CHARITABLE TRLIST NOTES TO THE FINANCIAL STATEMEPUS For the yoar •nd•d 31 DK•mber 2021 CREDrroRS: AMOUNTS FALLING DUE AFfER ONE YEAR 2021 2020 Inter4harity Loan 25.000 Totsl creditors 25,000 The inter