Charity Registration No. 273396
THE EVELYN HUSSEY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2021
THE EVELYN HUSSEY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mrs E G Hussey |
|---|---|
| Mr R H Chandler | |
| Miss K S E Chandler | |
| Mr P M Hussey | |
| Miss C A Pinnock | |
| Mr P Heath | |
| Charity number | 273396 |
| Principal address | 303 St Margarets Road |
| Twickenham | |
| Middlesex | |
| United Kingdom | |
| TW1 1PN | |
| Independent examiner | Azets Audit Services |
| Gladstone House | |
| 77-79 High Street | |
| Egham | |
| Surrey | |
| United Kingdom | |
| TW20 9HY |
THE EVELYN HUSSEY TRUST
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
THE EVELYN HUSSEY TRUST
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2021
The trustees present their report and financial statements for the year ended 5 April 2021.
The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 201 9 ) .
Objectives and activities
The Trust holds a freehold property in Richmond, Surrey, which was originally purchased by The Hussey Trust and transferred to The Evelyn Hussey Trust at its cost, free of charge. The trustees have a policy to maintain and improve the property to provide heavily subsidised, good quality accommodation to local senior citizens with low incomes, who could otherwise not afford to live in the area .
The Trust does not make grants to people or organisations , who apply speculatively. The Trust also has a policy of not responding to any correspondence unless it relates to the general management of the Trust.
The Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
Achievements and performance
Charitable activities
During the year the Trust has been able to provide accommodation with full warden cover for eight to nine senior citizens. Each resident has enjoyed good quality accommodation in a very pleasant location, reducing the burden on scarce local sheltered accommodation.
Financial review
Financial position
The net movement in funds w as £nil (20 20 - £ nil ). The Trustees received grants of £ 16,324 (2020 - £2,695) from The Hussey Trust. The charity's funds at the year end were £4,250,000 (20 20 - £ 4 , 25 0,000) .
Reserves policy
At present the Trustees do not think it is appropriate to set a reserves policy for the charity.
Structure, governance and management
History, management and governance Arrangements
The Charitable Trust was established on 17 March 1977. The Trust Deed gives the trustees the power to apply the funds in such a manner as they think fit to or for the benefit of any charitable object or purpose with special consideration for care and relief of crippled, handicapped or deprived children, care and relief of the aged and of specific charitable institutions or bodies.
The Trust Deed provides for a maximum of nine trustees. The power of appointing trustees is vested in the Founder, Mrs E G Hussey, during her lifetime and thereafter in the trustees.
Were there a requirement for new trustees, these would be identified and appointed. The Chair of Trustees is responsible for the induction of any new trustee, which involves awareness of a trustee's responsibilities, the content of the Trust Deed which is the governing document, administrative procedures, the history and philosophical approach of the charity, and a visit to the property and its residents. A new trustee would receive a copy of the previous year's annual report and accounts and a copy of the Charity Commission leaflet "The Essential Trustee: What You Need to Know".
The trustees delegate the day to day responsibility of running the accommodation to a warden.
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THE EVELYN HUSSEY TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
The trustees who served during the year and up to the date of signature of the financial statements were: Mrs E G Hussey
Mr R H Chandler
Miss K S E Chandler Mr P M Hussey Miss C A Pinnock Mr P Heath
The trustees' r eport was approved by the Board of Trustees.
Mrs E G Hussey Trustee Dated: 6 October 2021
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THE EVELYN HUSSEY TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE EVELYN HUSSEY TRUST
I report to the trustees on my examination of the financial statements of The Evelyn Hussey Trust (the charity) for the year ended 5 April 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
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3 the financial statements do 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 in order to enable a proper understanding of the financial statements to be reached.
Paul Creasey FCA Azets Audit Services Chartered Accountants Gladstone House 77-79 High Street Egham Surrey TW20 9HY United Kingdom
Dated: 6 October 2021
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THE EVELYN HUSSEY TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2021
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| Notes | £ |
£ | |
| Income from: | |||
| Donations | 3 | 16,324 | 2,695 |
| Charitable activities | 4 | 58,001 | 59,032 |
| Total income | 74,325 | 61,727 | |
| Expenditure on: | |||
| Charitable activities | 5 | 74,325 | 61,727 |
| Net income for the year/ | |||
| Net movement in funds | - | - | |
| Fund balances at 6 April 2020 | 4,250,000 | 4,250,000 | |
| Fund balances at 5 April 2021 | 4,250,000 | 4,250,000 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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THE EVELYN HUSSEY TRUST
BALANCE SHEET
AS AT 5 APRIL 2021
| 2021 Notes £ £ Fixed assets Tangible assets 9 4,250,000 Funds Unrestricted funds Revaluation reserve 4,250,000 4,250,000 4,250,000 The financial statements were approved by the Trustees on 6 October 2021 Mrs E G Hussey Mr R H Chandler Trustee Trustee |
2020 £ £ 4,250,000 4,250,000 4,250,000 4,250,000 |
|---|---|
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THE EVELYN HUSSEY TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies
Charity information
The Evelyn Hussey Trust is a charitable trust, registered with the Charity Commission in England and Wales. The principal office is disclosed on the legal and administrative information page.
1.1 Accounting convention
The financial statements of the charity have been prepared in accordance with the Charities SORP (FRS102) “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for small charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of the freehold property at fair value. The principal accounting policies adopted are set out below.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.3 Income
Income is included on the Statement of Financial Activities when the charity is legally entitled to t he income and the amount can be quantified with reasonable accuracy and is recognised in the period to which it relate s .
1.4 Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accrual s basis. All expenses are allocated or apportioned to applicable expenditure headings.
1.5 Tangible fixed assets
Freehold property is for use by the charity in fulfilling its charitable objects and is revalued every 3 to 5 years. No depreciation charge is made on the grounds that:
a) the residual value is high; and
b) the depreciation would be immaterial.
This property is not held for income generation purposes. Impairment reviews are only carried out where there is some indication that the recoverable amount is below its net book value.
1.6 Taxation
The charity is exempt from tax on its charitable activities.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
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THE EVELYN HUSSEY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
1 Accounting policies
(Continued)
1.7 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
Property valuation
The charity's land and buildings are carried in the accounts at market value. Details of the latest valuation are given in note 9.
3 Donations
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations | 16,324 | 2,695 |
| Charitable activities | ||
| 2021 | 2020 |
|
| £ | £ |
|
| Charitable rental income | 58,001 | 59,032 |
4 Charitable activities
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THE EVELYN HUSSEY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
5 Charitable activities
| Staff costs Property costs Sundries |
2021 £ 21,662 52,021 642 74,325 74,325 |
2020 £ 21,502 39,417 808 61,727 61,727 |
|---|---|---|
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or be nefits from the charity during the year. P M Hussey was reimbursed £599 for residents washing machine and C A Pinncock reimbursed £202 for residents vouchers
The trustees are considered to be the key management personnel for the Trust.
7 Employees
Number of employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Wages and salaries | 1 | 1 |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 21,662 | 21,502 |
No employees received emoluments in excess of £60,000.
8 Independent examiner's fees
Independent examiner's fees for the charity are paid by The Hussey Trust.
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THE EVELYN HUSSEY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2021
9 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Freehold land and buildings | |
| £ | |
| Cost or valuation | |
| At 6 April 2020 | 4,250,000 |
| At 5 April 2021 | 4,250,000 |
| Carrying amount | |
| At 5 April 2021 | 4,250,000 |
| At 5 April 2020 | 4,250,000 |
Land and buildings with a carrying amount of £4,250,000 were revalued in April 2018 by Roy McClure Associates, Chartered Surveyors & Valuers , independent valuers not connected with the charity on the basis of market value.
The book cost was £57,877.
10 Unrestricted funds
| General fund Revaluation fund |
Balance at 6 April 2019 £ - 4,250,000 4,250,000 |
Movement in funds Incoming resources Resources expended £ £ 61,727 (61,727) - - 61,727 (61,727) |
Balance at 6 April 2020 £ - 4,250,000 4,250,000 |
Movement in funds Incoming resources Resources expended £ £ 74,325 (74,325) - - 74,325 (74,325) |
Balance at 5 April 2021 £ - 4,250,000 4,250,000 |
|---|---|---|---|---|---|
11 Related party transactions
During the year the charity received grants of £ 16,324 from The Hussey Trust (20 20 - £ 2,695 ).
The Trustees of The Evelyn Hussey Trust are also Trustees of The Hussey Trust.
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