| TRUSTEES | M.J.Percival | |
|---|---|---|
| A. D. Miles | ||
| F.T.G. Bird | ||
| J.N. Perkins | ||
| J.B.Brown | ||
| S.V. Billings | ||
| Mrs C.E.Allmark | ||
| PRINCIPAL ADDRESS | HCR Hewitsons | |
| Lancaster House | ||
| Nunn Mills Road |
||
| Northampton | ||
| NN1 5GE | ||
| BANKERS | Cater Allen | |
| 9 Nelson Street | ||
| Bradford | ||
| BD1 5AN | ||
| ACCOUNTANTS | Jervis 8 Partners | |
| Chartered Accountants |
||
| 135/137 Wellingborough | Road | |
| Rushden | ||
| Northants | ||
| NN10 9TE | ||
| SOLICITORS | HCR Hewitsons | |
| Lancaster House | ||
| Nunn Mills Road |
||
| Northampton | ||
| NN1 5GE | ||
| STOCKBROKERS | Brewin Dolphin | |
| St.James's Place Wealth | Management | |
| Rowan Dartington |
| Pacaee | ||
|---|---|---|
| Report ofthe Trustees | 2 and 3 | |
| Independent Examiner's |
Report | |
| Statement offinancial activities | ||
| Balance Sheet | ||
| Notes to the financial statements | 7to 10 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| Funds | Funds | Funds | Funds | |||
| Note | K | 6 | F | |||
| Income | ||||||
| Investment income |
47,264 | 47,264 | 51,333 | |||
| Total income | 47,264 | 47,264 | 51,333 | |||
| Expenditure | ||||||
| Raising funds Investment management |
costs | (6,865) | (6,865) | (7,752) | ||
| Charitable activities |
||||||
| Donations | (39,000) | (39,000) | (39,000) | |||
| Grants paid | (2,000) | (2,000) | (4,000) | |||
| Other costs | (7,434) | (7,434) | (7,627) | |||
| Total expenditure | (55,299) | (55,299) | (58,379) | |||
| Property revaluation |
||||||
| Net gains/(losses) on investments |
||||||
| Realised (losses)/gains Unrealised (losses)/gains |
2 6/7 |
(1,418) (88,413) |
(1,418) (88,413) |
2,229 (2,967) |
||
| Net movement in funds |
(97,866) | (97,866) | (7,764) | |||
| Reconciliation offunds:- |
||||||
| Funds brought forward |
1,248,763 | 650,000 | 1,898,763 | 1,906,527 | ||
| Total funds carried forward | 10 | 1,150,897 | 650,000 | 1,800,897 | 1,898,763 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | |||||
| Fixed assets | |||||
| Tangible fixed assets | 650,000 | 650,000 | |||
| Investments | 1,138,336 | 1,242,045 | |||
| Total fixed assets | 1,788,336 | 1,892,045 | |||
| Current assets | |||||
| Debtors | 9,348 | 51,843 | |||
| Bank and cash | 26,275 | 22,394 | |||
| Total current assets | 35,623 | 74,237 | |||
| Liabilities | |||||
| Creditors: amounts | falling | due | |||
| within one year | 23,062 | 67,519 | |||
| Net current assets | 12,561 | 6,718 | |||
| Total assets less | current | liabilities | 1,800,897 | 1,898,763 | |
| The funds ofthe | charity: | ||||
| Unrestricted funds |
10 | 1,150,897 | 1,248,763 | ||
| Restricted funds |
10 | 650,000 | 650,000 | ||
| 1,800,897 | 1,898,763 |
| (a) | General Information The Norman Taylor Educational and Aid forthe Elderly Trust is a Charity registered in the United |
|---|---|
| Kingdom. The address ofthe charity is given in the Legal and Administrative Information. The |
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| nature of the Charity's operations and principal activities are fully detailed in the report of the |
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| Trustees on pages 2and 3. The Charity constitutes a public benefit entity as defined by FRS102. |
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| (b) | Basis ofpreparation |
| The financial statements have been prepared under the histodical cost convention, with the |
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| exception that investments are included at market rate value, and in accordance with the Charities |
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| Act 2011,and the Statement ofRecommended Practice: Accounting and Reporting by Charities |
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| (FRS1022015)and applicable Accounting Standards. The Charity has applied Update Bulletin |
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| 1 as published in February 2016and does not include a cash flow statement on the grounds that |
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| it is applying FRS1021A. |
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| (c) | Fixed assets and depreciation Fixed assets are reflected at fair value. Any movement in valuation is taken to the restricted fund. |
| It is the Trustees' policy to maintain all buildings to such a standard that their estimated residual |
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| value is not less than their cost at any given time, and, consequently, no depreciation is |
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| necessary. | |
| (d) | Investments Stocks and shares are included in the Balance Sheet at market value, which is deemed to be fair |
| value. Both realised and unrealised investment gains and losses are shown in the statement of |
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| financial activities. |
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| (e) | Income Bank interest and interest earned on funds held by stockbrokers is stated gross and is included |
| on a receivable basis. | |
| Investment income is included on a receivable basis and includes recoverable income tax. |
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| Expenditure | |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation |
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| committing the charity to the expenditure. All expenditure is accounted for on an accruals basis |
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| and has been classified under headings that aggregate all costs related to the category. |
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| (g) | Irrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was |
| incurred. | |
| (h) | Governance costs Governance costs comprise all costs involving the public accountability of the Charity and its |
| compliance with regulations and good practice. These costs include costs relating to accountants |
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| fees, the audit and legal fees. | |
| Unrestricted funds |
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| The Charity's unrestdicted funds consist of general reserves, which the Charity may use for its |
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| purposes at its discretion. |
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| Restricted funds | |
| The Charity's restdicted funds are those funds which may only be applied for purposes specified |
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| by the Trust Deed. | |
| (k) | Designated funds The Charity's designated funds are those funds which the Trustees have elected to earmark for |
| a specific purpose. There is no restriction as to the use ofthese funds. Any balance remaining |
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| in the designated fund after the specific project has been completed may be transferred back to |
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| the unrestricted general fund. |
| 2023 | 2023 | 2022 | |||
|---|---|---|---|---|---|
| 8 | 8 | ||||
| Profit/(Losses) | on sale | of investments | 1 | 18 | 2 229 |
| DONATIONS | |||||
| 2023 | 2022 | ||||
| 8 | E | ||||
| Institutions | |||||
| David Taylor | Housing | Trust | 39 | 000 | 39000 |
| GRANTS PAYA | BLE | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| 8 | ||||||
| Individuals | ||||||
| Educational | 4000 | |||||
| The educational | grants | are made to individuals | in accordance | with | the objectives ofthe Charity. | |
| OTHER COSTS | ||||||
| 2023 | 2022 | |||||
| Governance costs | ||||||
| Legal and administration | costs | 4,914 | 5,221 | |||
| Accountancy fees | 2,520 | 2,400 | ||||
| Bank charges | 6 | |||||
| 7,434 | 7,627 |
| TANGIBLE FIXEDASSETS | |||
|---|---|---|---|
| Freehold | land | ||
| and buildings | |||
| Valuation | |||
| At 6th April 2022 | 650,000 | ||
| Re-valuation | |||
| At 5th April 2023 | 650,000 | ||
| Depreciation | |||
| At 6th April 2022 and 5th April 2023 | |||
| Net book amount | |||
| At 5th April 2023 | 650 | 0 | |
| At 5th April 2022 | ~65 |
| At 5th April 2022 | ~65 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| The freehold land and buildings |
were | independently | valued | by an appropriately | qualified | Chartered | |||
| Surveyor on the basis of open |
market | value for existing | use | and tenants | on 11 | February | 2020. The | ||
| Trustees have reviewed the current market and condition | ofthe | property and |
consider the valuation to be |
||||||
| the fair value as at 5April 2023. | |||||||||
| Total | Total | ||||||||
| FIXEDASSET INVESTMENTS All used for charitable purposes |
2023f | 2022 6 |
|||||||
| Valuation at 6th April 2022 |
1,242,045 | 1,254,072 | |||||||
| Additions at cost | 60,699 | 166,449 | |||||||
| Disposals at market value | (75,995) | (175,529) | |||||||
| Unrealised gains/(losses) |
(88,413) | (2,947) | |||||||
| Valuation at 5th April 2023 |
1 24 | ||||||||
| Historical cost at 5th April 2023 | 127 0 |
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| DEBTORS | |||||||||
| Amounts falling due within one |
year | ||||||||
| 2023 | 2022 | ||||||||
| 6 | 6 | ||||||||
| Accrued investment income |
9,348 | 9,410 | |||||||
| David Taylor Housing Trust |
42,433 | ||||||||
| 9,348 | 51,843 | ||||||||
| CREDITORS | |||||||||
| Amounts falling due within one |
year | 2023 | 2022 | ||||||
| 6 | |||||||||
| Accrued expenses David Taylor Housing Trust |
3,955 19,107 |
4,719 62,800 |
|||||||
| 23,062 | 67,519 |