Jo$¢ h Nickerson Cbaritable FoTmdation Trustees, Annual Re rt for the Year Ended 30th A ril 2023 Details of the CbaEi The Tn of th¢ Charity are:. Lady Eugenie Nickerson Louise Josephine Baltesz Edward Rort Nickerson William Jeffrey Emms The registered nutnkr of the Clwity is 276429. The address of the Clwity is: Villa Office Rothwell Market Rasen Lincolnshire LN7 6BJ Ob'ects of the Chari The income and capital of the Ckwity is held on trt for such charitable purwses. charitable institutions or cl)aritable foundations situated within the United Kingdom as the TrSte¢S lly determine from time to time. Review of the Cl]ariti¢s Activities During tbe year ended 30 A11 2023, the Cliarity Iu¢d the following expenditure: Educational grants to young persons to l$t in financing firther education 1,000.00 Donations to Various local and national Clwitabl¢ purposes and institutions 65,500.00 Outings and activities for senior citi7Ms and young persons of Rothwell Village 446.60 Building ovetheads and rq)airs 8,475.20 Sundry expenditurejManagennt Fees 12,905.99 88,327.79 Signed on behalf of the Tr. Dated: 19" December 2023 19.12.23 IINCFllcf
Joseph Nickerson Charitable Foundation
Report and Financial Statements
Year ended: 30 April 2023
Charity no: 276429
Haines Watts
Chartered Accountants Hanover House 117 - 119 Cleethorpe Road Grimsby N E Lincolnshire DN31 3ET
| Contents | Pages |
|---|---|
| Legal and administrative information | 3 |
| Report of the trustees | 4-5 |
| Examiners’ Report | 6 |
| Statement of financial activities | 7 |
| Balance Sheet | 8 |
| Notes forming part of the financial statements | 9-12 |
LEGAL AND ADMINISTRATIVE DETAILS
Trustees: Lady Eugenie Nickerson Louise Josephine Baltesz Edward Robert Nickerson William Jeffrey Emms Registered Office: Villa Office Rothwell Market Rasen Lincolnshire LN7 6BJ Examiners: Haines Watts, Chartered Accountants 117 - 119 Cleethorpe Road Grimsby, DN31 3ET Bankers: Lloyds Mercer Row Louth Investment Managers: Cazenove Capital Management Limited 12 Moorgate London EC2R 6DA
3
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
Report of the trustees for the year ended 30 April 2023
The trustees have pleasure in presenting their annual report and financial statements of the charity.
Reference and administrative details of the charity, its trustees and advisers
Reference and administrative details are shown in the schedule on page 3 of the financial statements.
The Trustees
The trustees who served the charity during the year were as follows:
Lady Eugenie Nickerson Louise Josephine Baltesz Edward Robert Nickerson William Jeffrey Emms
Structure
The Joseph Nickerson Charitable Foundation is an unincorporated charity governed by a trust deed registered with the Charity Commission.
Objectives and activities
The income and capital of the charity is held on trust for such charitable purposes, charitable institutions or charitable foundations situated within the United Kingdom as the Trustees may determine from time to time and which are in accordance with the Charity's objectives as set out in the said trust deed.
Achievements and performance
The charity has continued to make various local community and educational grants during the period.
Financial review
The charity is in a sound financial position with substantial resources which will extend the scope for donations in the future.
Plans for future periods
The charity will continue with its charitable objectives assisted by the increased resources at its disposal.
Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Observe the methods and principles in the Charities SORP;
-
Make judgments and estimates that are reasonable and prudent;
-
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
4
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
Report of the trustees for the year ended 30 April 2023 (continued)
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiners
Haines Watts, Chartered Accountants were re-appointed as independent examiners during the year.
This report was approved by the Trustees on , and signed on their behalf by:
………………………………
W J Emms (Trustee)
5
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
Independent Examiner's Report to the Trustees of the Joseph Nickerson Charitable Foundation
I report on the accounts of the charity for the year ended 30 April 2023 which are set out on pages 7 to 13.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s 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 responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
to keep accounting records in accordance with section 130 of the 2011 Act; or
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act; or
-
the accounts 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 accounts to be reached.
Mark Stothard
FCA
Haines Watts, Chartered Accountants
Date:
6
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
Statement of Financial Activities for the year ended 30 April 2023
| Unrestricted | Restricted | Endowment Total |
Endowment Total |
Total |
||
|---|---|---|---|---|---|---|
| Notes | Funds | Funds | Funds | 2023 |
2022 |
|
| £ | £ | £ | £ | £ | ||
| Incoming Resources | ||||||
| Incoming resources from generated funds: | ||||||
| Voluntary income | - | - | - | - | - | |
| Donations and gifts | 2,849 | - | - | 2,849 | - | |
| Legacies | - | - | - | - | - | |
| Activities for generating funds: | ||||||
| Merchandising income | - | - | - | - | ||
| Investment income | 2 | 72,906 | - | - | 72,906 | 72,991 |
| Incoming resources from charitable activities: | ||||||
| Rents received | 1 | - | - | 1 | 1 | |
Net gain on disposal of fixed assets |
- | - | - | - | - | |
| ------------- | ------ | ------ | ------------- | ----------- | ||
| Total incoming resources | 75,756 | - | - | 75,756 | 72,992 | |
| ------------- | ------ | ------ | ------------- | ---------- | ||
| Resources expended | ||||||
| Charitable activities | (66,947) | - | - | (66,947) | (68,892) | |
| Governance costs | (21,381) | - | - | (21,381) | (23,626) | |
| ------------- | ------ | ------ | ------------- | ----------- | ||
| Total resources expended | 3 | (88,328) | - | - | (88,328) | (92,518) |
| ------------- | ------ | ------ | ------------- | ----------- | ||
| Net incoming resources / (resources expended) | ||||||
| before transfers | (12,572) | - | - | (12,572) | (19,526) | |
| Net gains/(losses) and revaluations on investments | (147,300) | - | - | (147,300) | 80,697 | |
| Net movement in funds | (159,872) | - | - | (159,872) | 61,170 | |
| Fund balances brought forward at 1 May 2022 | 1,989,664 | - | - | 1,989,664 1,928,494 | ||
| ------------- | ------ | ------ | ------------- | ------------- | ||
| Fund balances carried forward at 30 April 2023 | 1,829,792 | - | - | 1,829,792 1,989,664 | ||
| ------------- | ------ | ------ | ------------- | ------------- |
All of the above results are derived from continuing activities. All gains and losses recognised in the year are included above.
7
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
Charity Balance Sheet as at 30 April 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 5 | 120,100 | 121,800 |
| Investments | 1,676,109 | 1,823,517 | |
| ------------- | ------------- | ||
| 1,796,209 | 1,945,317 | ||
| Current assets | |||
| Cash at bank and in hand | 35,615 | 46,316 | |
| ------------- | ------------- | ||
| 35,615 | 46,316 | ||
| Creditors: amounts falling due within one year | 6 | (2,032) | (1,969) |
| ------------- | ------------- | ||
| Net current assets | 33,583 | 44,347 | |
| ------------- | ------------- | ||
| Total assets less current liabilities | 1,829,792 | 1,989,664 | |
| Creditors: amounts falling due after more than | |||
| one year | - | - | |
| Net assets | 1,829,792 | 1,989,664 | |
| ======= | ======== | ||
| Funds: | |||
| Unrestricted funds | |||
| General funds | 1,829,792 | 1,989,664 | |
| Designated funds | - | - | |
| ------------- | ------------- | ||
| 1,829,792 | 1,989,664 | ||
| Restricted funds | - | - | |
| ------------- | ------------- | ||
| Total funds | 7 | 1,829,792 | 1,989,664 |
| ======= | ======== |
The financial statements on pages 7 to 12 were approved and authorised for issue by the trustees and signed on their behalf by:
W J Emms, Trustee
Dated
8
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
Notes forming part of the financial statements for the year ended 30 April 2023
1 Accounting policies
(a) Basis of preparation
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value.
(b) Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
Investment income and gains are allocated to the appropriate fund.
(c)
Incoming resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
9
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
(d) Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Premises overheads have been allocated on a floor area basis and other overheads have been allocated on the basis of the head count.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
(e) Tangible fixed assets and depreciation
Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
| Freehold land | Nil | |||
|---|---|---|---|---|
| Freehold buildings | over 50 years | |||
| (f) | Investments | |||
| Investments are stated at market value | at the balance sheet date. The SOFA includes the net gains and | |||
| losses arising on revaluations and disposals throughout the year. | ||||
| 2 | Investment income | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Dividends & interest receivable from investments and unit trusts | 72,906 | 72,991 | ||
| ------------ | ------------ | |||
| 72,906 | 72,991 | |||
| ======= | ======= |
10
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
3 Total resources expended
| Other | Other | ||||
|---|---|---|---|---|---|
| Staff | Direct | Allocated | Total | Total | |
| Costs | Costs | Costs | 2023 | 2022 | |
| £ | £ | £ | £ | £ | |
| Charitable Activities | - | 66,947 | - | 66,947 | 68,892 |
| Building costs | - | 5,950 | - | 5,950 | 3,122 |
| Merchandising costs | - | - | - | - | - |
| Investment management fees | - | 3,474 | - | 3,474 | 4,224 |
| Residential care costs | - | - | - | - | - |
| Childcare | - | - | - | - | - |
| Emergency services | - | - | - | - | - |
| Information and education | - | - | - | - | - |
| Support costs | - | - | - | - | - |
| Management and administration | - | 11,957 | - | 11,957 | 16,280 |
| -------- | --------- | -------- | --------- | --------- | |
| Total resources expended | - | 88,328 | - | 88,328 | 92,518 |
| ===== | ====== | ===== | ===== | ===== |
4 Comparatives for the Statement of Financial Activities
| Unrestricted | Restricted | Endowment Total | |
|---|---|---|---|
| Funds | Funds | Funds Funds |
|
| £ | £ | £ £ | |
| Incoming Resources | |||
| Incoming resources from generated funds: | |||
| Voluntary income | - | - | - - |
| Donations and gifts | - | - | - - |
| Legacies | - | - | - - |
| Activities for generating funds | |||
| Merchandising income | - | - | - - |
| Investment income |
72,991 | - | - 72,991 |
| Incoming resources from charitable activities: | |||
| Rents received | 1 | - | - 1 |
| Net gain on disposal of fixed assets | - | - | - - |
| ------------- | ------ | ------ ------------- | |
| Total | 75,756 | - | - 75,756 |
| Resources expended | |||
| Charitable activities | (68,892) | - |
- (68,892) |
| Governance costs | (23,626) | - |
- (23,626) |
| -------------- | ------ | ------ ------------- | |
| Total resources expended | (92,518) | - |
- (92,518) |
| -------------- | ------ | ------ ------------- | |
| Net incoming resources / (resources) | |||
| Expended) before transfers | (19,526) | - | - (19,526) |
| Net gains/(losses) and revaluations on | |||
| investments | 80,697 | - | - 80,697 |
| Net movement in funds | 61,171 | - | - 61,171 |
| Fund balances brought forward | 1,928,493 | - | - 1,928,493 |
| ------------- | ------ | ------ ------------- | |
| Fund balances carried forward | 1,989,664 | - | - 1,989,664 |
| ------------- | ------ | ------- ------------- |
11
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023
5 Tangible fixed assets
| Freehold | ||
|---|---|---|
| land and | ||
| buildings | Total | |
| £ | £ | |
| Cost | ||
| At 1 May 2022 | 132,000 | 132,000 |
| Additions | - | - |
| Disposals | - | - |
| ------------- | ------------- | |
| At 30 April 2023 | 132,000 | 132,000 |
| ======= | ======= | |
| Depreciation | ||
| At 1 May 2022 | 10,200 | 8,500 |
| Charge for year | 1,700 | 1,700 |
| Disposals | - | - |
| ------------- | ------------- | |
| At 30 April 2023 | 11,900 | 10,200 |
| ======== | ======== | |
| Net book value | ||
| at 30 April 2023 | 120,100 | 121,800 |
| ======== | ======= | |
| At 30 April 2022 | 123,500 | 123,500 |
| ======== | ======= |
Included in freehold land and buildings at historic cost based on probate value when received by the charity are The Villa Farmhouse at £85,000, agricultural land at Reads Island at £40,000 and land in Rothwell village known locally as the playground at £7,000.
6 Creditors: amounts falling due within one year
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Trade | creditors | - | - | ||||
| Accruals and deferred income | 2,032 | 1,969 | |||||
| -------- | -------- | ||||||
| 2,032 | 1,969 | ||||||
| ===== | ==== | ||||||
| 7 | Statement of funds | ||||||
| At 1 May | Investment | At 30 April | |||||
| 2022 | Income | Expenditure |
gains/Losses | Transfers | 2023 | ||
| £ | £ | £ | £ | £ | £ | ||
| General reserve | 1,989,664 | 75,756 | (88,328) | (147,300) | - | 1,829,792 | |
| ------------- | --------- | --------- | ---------- | ------ | ------------- | ||
| Total | unrestricted funds1,989,664 | 75,756 | (88,328) | (147,300) | - | 1,829,792 | |
| ======= | ===== | ===== | ====== | ==== | ======== | ||
| Total | funds | 1,989,664 | 75,756 | (88,328) | (147,300) | - |
1,829,792 |
| ======= | ===== | ===== | ====== | ==== | ======== |
The General reserve represents the free funds of the charity which are not designated for particular purposes.
12
JOSEPH NICKERSON CHARITABLE FOUNDATION YEAR ENDED 30 APRIL 2023 Ind•pen(Jent Examinerf5 Report to the Truste•s of the Joseph Nicker50n Charltable Foundation I pOrt on the accounts of the chartty for the year erx16d Apn"12023 which are set out on pages 7 10 13. Respectlve respon5ibllities of tmstees and examln•r The chartvs trustèes are rèsponsible for the preparation of the atsunts. The charity's trustees onsiLler that an audit is not required for this year under Wtion 144(2} of thg Charities Act 2011 {the 2011 Act) and thal an independent examination is red. is my reswnsiblltty to: examine the artounts urKler seth.on 145 ofthe 2011 A(" follow the procedures laid down in tr goneral Dirths gNen by the Charyty Commission under section 14515llb) ofthe 2011 . and stale whether parti[ar matters have ci>me lo my atteniton. Basi$ of Independent examinerfs report My examination w8s ¢arTTèd out in 8ccordance wtth the general Directtons given by the Charity Commission. An examinab.on irKludes a review of the a(xounting records kept by thg charity aT7d a comparison of the accounts presented those records. 11 also indudes considerab'on irf any unusual items or disclosures in the acctsunts and seeking exFAan8bons from Y as trust8es concerning ary such matters. Th6 W0clUS undertaken (k) not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether th8 a(xount$ present a 1ruo and frdir vievf and the reFKIrt is limited to those matter5 set out in the 5tstement tEI(M. Indendent exarnlnerfs statement I have cornpleled my examination. I cfftfimi that no mat&ial matter3 have corne to my attention in connection wlh the exAmination glr$ me c4u* to believe that in any material resped". lo keep aCunting re&Nds in a¢wdance with seth.on 130 ofthe 2011 ALt,' or lo prepare accounts whith accord wilh the 8ccounling rwds and comply ¥sYth the accounting requirement5 oftke 2011 Act or the accounts do not comply with the applicable rgquir8rnents conceming the fomi and content of accourrts set OLrt rn the Charrties (Accounts and Reports) Regulations 2008 other than any requirement that the accounts givè a true and fair view which is not a rnatter considered as part ofan inpendeTrt examination. I have no concems and have come a(JDSS no other matters in cntion wlh Ihe examination to whl attention should be drawn in this retx)rt in order to enable a proper understanding of the accounts to be reached. Mark Stoth FCA Haines Watts. CharteredAccountanls Dat&.' 07/11 /20Z3