Cej THE NORMAN TAYLOR EDUCATIONAL AND AID FOR THE ELDERLY TRUST REGISTERED CHARITY NUMBER 284859 FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 JERVIS & PARTNERS CHARTERED ACCOUNTANTS 1351137 WELLINGBOROUGH ROAD RUSHDEN NORTHANTS NN10 9TE THE NORMAN TAYLOR EDUCATIONAL AND AID FOR THE ELDERLY TRUST REGISTERED CHARITY NUMBER: 284859 LEGAL AND ADMINISTRATIVE DETAILS LEGAL ST ATUS A registered charity formed by a Declaration of Trust dated 17th February 1982 TRUSTEES M. J. Percwal (Retired 11 July 20241 A. D. Miles F. T. G. Bird {Relired 11 July 2024} J. N. Perkins {Retired 11 July 2024} J. B. Brown S. V. Billings Mrs C. E. Almark- Chaim)an Mrs G. R. Evans (Appointed 11 July 20241 Mrs M Kneeshaw (Appoinled 11 July 20241 PRINCIPAL ADDRESS HCR Hewilsons Lancasler House Nunn Mills Road Northampton NN1 5GE BANKERS Cater Alen 9 Nelson Street Bradflyd BD1 SAN ACCOUNTANTS Jervis & Partners Chartered Accounlanls 1351137 Wellingborough Road Rushden Northanls NN10 9TE SOLICITORS HCR Hewitsons Lancasler House Nvnn Mills Road Norihamplon NN1 5GE STOCKBROKERS Brewin Dolphin Sl. James's Place Wealth Management Rowan Dartington Page 1 THE NORMAN TAYLOR EDUCATIONAL AND AID FOR THE ELDÈRLY TRUST REGIST RED CHARITY NUMBER.. 284859 FhNANCIAL STATEMENTS FOR ThE YEAR ENDED STH APRIL 2024 CONTENTS Pa Report of the Trnsteos 2and3 Indwndènt ExomlnÈVs Report Statemont of financlal actiTthie$ 8olanc8 Sheet Notes to th• finan¢lal statements 7t010 P8ge 2 THE NORMAN TAYLOR EDIJCATK)NAL AND AID FOR THE ELDERLY TRUST REGISTERED CHARITY NUMBER: 284859 REPORT OF THE TRUSTEES The Trustees p￿sent Iheir anrw81 report aThY audited fina￿ stalem&Trts fof the year end￿ 5th Aprll 2024. The financial st8tern£nts havè ba6n pr8p8red on Ihè account￿9 p￿1085 s¢1 out in Not9 1 of the fmanryal slal6ments and ¢ompty thè Charitys Trust Dèod. applicab￿ law and the r8quirem8nl of the SORP "AcrL)unUn9 Repo￿￿ by c￿11&$- IFRS 1021 in 2015 aThJ Ihè Charitibs Act 2011. The Charsty has taken advantagg ol the ccfficwons afforded to sM￿￿r charthes n re8pe¢t of pr¥sentation disdosure Sn those Inanclal slaiem8nts. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity is governed by a Trust Dee¢J daled 17th February 19&2 authows Board ol Trustees to perft)rm the objects of the Trust. Tre recruitmeni. apwntment and training ol Tw*eès wNJuaed byextsting Trustees. OBJECTives OF TME CH￿1T¥ The Norm8n Ta￿or E￿L￿8th)nal Aid lor the Ek1ety Trusiwas 8stsbb.shed in 1982 to make grants lo the David Taylor Housnu Trust for Eldedy and Rètsr8d Persons Ireg5téred charity wmbgr 2361021 to assist it in Ggrrying out its objective of maintair¥w Abirvaion Lthyge and Ihe L•)d arwThJ li as a rèsidernEo1 homèslead for e￿￿rIY and retir￿ and the provis￿￿ ol homes fi* such people. SO(￿01y. Ihe Twstees a￿ empowef8d lts assist with educatlon oranls for people I) the (4 Northamplonshire arK1 Ihe Borough olAtbroalh. PUBLIC BENEFIT All of tho Charitls activities ar• ut¥Jgrtaken b) fUrt￿r Charital￿e purFW lor lh8 ben8fi1 of th8 PUtAic. The Trustees have had regard to Charity Commk%sth guKlarth orn wblic L*nefil in s8dion four of the Charities Act 2011. The main befiefils whKh have arisen during the )ear Irom ￿ ¢yganisab"on's awn5 and activit￿5 are delai18d in the lollwiTrJ Sec￿"0n$ and in the financial review. REview OF THE DEveLOPMENT. ACTMTIES AND ACHiEVEMENTS DURING THE YEAR Mr. David Nomian Taylor in his lifetime estsblished Charitable Trusts. He was an wNnarried man an(J had no children. His wish was io 8n5ure Ihal land and pn)P8rty al AbirvJton Lodge, N(tharnpton and hi$ other invèstmonts shoukl bèutilis6d aftèr his doath Ilwh ChaYitailèTru5tsforlhe bellefil oleld8rty and r8(irwl peopkg. The David Tawor Hwsing Twst (wns the land and woperty. The for the Elderfy Trust owns Ihe inv851ments. From the lalter Trusl, It Vds also tK6sibte to wovi¢e edu¢alKffial grants lor residents ol Ihe Borwgh of Northamplon 8nd th8 Borough ol Afbroath. To aKI th8 administration Over the sears since Mr. T8￿8 death, the Iwo charital￿e Trusts have been run effecb'vdy as on8. As p8r a Charity Comffli5swJn wksti￿1Ajn, S￿[&1• anryJal al￿Oun15 af8 prepared for eaeh Charity. The David Housing Trust has o)ntirwed to Ihe land and proKwty and to work with East Midlands Housing Ass(Kialiori and ￿1h Cowt Envronm9nl8110 8nsurg thalthis is 8vaiLgblg and mainiainod lor Ihe benefit of lh8 re5Kl&n15 of Atmngton L￿Jga ITr acc(xdanc8 wth the instruclK)ns left by Mr. D. N. T800r. The Educational Twsi has made the find payment of a throe year ￿an1 awarded io a studènt 8t univérsity. bul has nol mad? any further ￿U(al￿oI awards li the ojrrent finanual year. ln aco)rdance with Ihdr charitable objectivgs Ihe Trustees have utih.sed If* mwes Ihey inveslm8nls to support the resi4entelderly and retirè(I perpk ofAbiWon lodge FINANCIAL RESULTS FOR THE YEAR The financ￿31 slalemenls for Ihe year ermjed 51h April 2024 shw a wrrAus of £30.7%12023- dèficit £97,866) irs total lunds." Ihis In¢ludes reali8ed wclits on the sale of investn*nts of FS.46612023- profits £1.4181. Unrealised profits on ievalualK)n of investments were £53.451 1£2023- K)sses £88.4131. POLICY ON RESERVES The Truslees consKler that the unreslricted gereral (und £1.181,693 * 5th April 2024 12023 £1.150.897119 suIFIu8nl lo sustain lis operatmms shouks irt0rn8 9ènerabrvJ actiwitEs be curt814￿1 W￿xpeCt8dlY ovw the lorth¢c¥nirvJ war. Page 3 THE NORMAN TAYLOR EOUCATIONAL AND AID FOR THE ELDERL Y TRUST REGISTERED CHARITY NUMBER: 2 59 REPORT OF YHE TRUSTEES- CONnNUED INVESTMENT POLICY Rowan Dartingion. as Indep8rk*ent Financial A0￿tsers. ccrfinued to manago ihe wxtlol*D and ensure Ihat the Income ol thè Trust Is maximi58d whi151 salewar(Ing as far as Ihg capttal investments ol the Charity. RISK ASSESSMENT POLICY The Tru$tees have assessed m8ior risks to whth the Charity Is exFw)se¥L Datg.. Pag8 5 THE NORMAN TAYLOR EDUCATIONAL AND AID FOR THE ELDERLY TRUST REGISTERED CHARITY NUMBER. STATEMENT OF FINANCIAL ACTIVITIES FOR ThE YEAR ENDED 5TH APRIL 2024 2024 Re5trlcted Funds 2023 Total Furtds Unm$trf¢t¢d Fund$ Total Funds Not• In¢ome Inv8slmenl incoN Irst8rgsl Received 34.988 523 47.264 523 Tolal income 35.511 35.511 47,264 Expondlture Rai5in9 fund$ Investmént manaJ8m8nl costs (15.2241 115,2241 16.8651 Charitable activllles Doriaticns {39.(Wl 139,0001 I39,￿0) Grants pa￿) (2.￿0} Othèr costs 19,4081 {9.4081 17.4341 Total oxpenittture 163.632) {63.6321 155.2991 Propgrty r8valuatknn N¢t gainsll1055e$l on Investments R8alised Ilossesllgain$ Unreali%ed Ibsse$ygains 5.466 53,451 5.466 53.451 11.4181 188.4131 Net movement In fund$ 30,7 197,8661 Recoficlllallon of funds:. Fu￿$ brought lorw8rd 1.150.897 &50.0( 1.8CKI,897 1,898.763 Total lunds urrled fowward 10 1.181.693 650.IKX) 1.831,693 1,800.B97 There are ty) olher Teo)gnised g8ins or*Asesf(w the yearolher than IlN)se contsined in the statement offina)clal adWIt￿$. The notes on pages 7 to 10 fomi part of th8S8 f￿￿81 sial6men¢s Poge 6 THE NORMAN TAYLOR EOU¢ATK)NAL AND AID FOR THE ELDERLY TRUST REGISTERED CHARITY NUM8ER.. 284859 ALANCE SHEET AT 5TH APRIL 2024 2023 Flxed assets Tangible fixed assets 650,TrJO Inyastm8nts 1.161.362 7.138.336 Total flxed ag$ets 1.811.362 1,788.336 Current assets Debtors 9.348 Bank cash 43.702 26.275 Total ¢unen¢ a$$et$ 43.702 35.623 Creditors.. amcaJnt$ falbng d wilhin one year 23271 23.062 Mel currenl assets 20,331 12,561 Totsl a$gets less currenl Ilabllltles 1.831,693 1.800,897 The funds of the ¢harlty'. Unrestricted funds 10 1.181,693 1.150,897 Restrided funds 10 650.000 1,831.693 1,8￿.897 These finan I taterr*This %¥we approved by ihe TDJs￿esffi 25 Novefflber 2024 andwere $ign81J on their behalf by:_ Chairman Th8 no18s on page$ 7 10 10 fomi part of Ihese finaTKial 51aternenls Paga 7 THE NORMAN TAYLOR EDiICATIthYAL AND AID FOR THE ELDERLY TRUST REGISTEREO CHARITY NUMBER: 2848S9 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5T APRIL 2024 ACCOUNTING PoL￿lEs lal GÈnero1 Inform¥iion Tho Norman Taylor Edu¢atinal 8rKI Awj Eldedy Trust is a Charity regisl8r8d ¢n th8 Uniiad Kngdom. The address ol Ihc charity is given in lh8 Logal antj Administrative Inlom)ation. Th nature (rf Ihe Cliafills operalions and prinapal actiwlies are fully detsiled In the report of the Trustees on p*J88 2 ?rxl 3. Thg ch￿IlY (xjnstiluies a public b8nefit ￿lIty 8$ defin8d by FRSIO2. Ibl Basls of preparatiori The finan¢ial statemenls have ￿￿n prepared lh8 hiskn¢al cosl C￿Vention, with the exc8pli¢m that investme.nts are irK4uded al market￿le value, and in ac1yxdan￿ wth the Charities Aci 2011. and Ihe Stalernent ol Re¢(thmended PractI￿.-. Accnunling and Rep)rting by Charities IrRS102 Z01518nd 8ppli¢aNo A￿UntIng Stanilards. Tho Charity has applied Update Bull&tirTr l as pubfisl*d in Febfuary 2016 and (Joes not indudo a cash fl(M stslement on th8 grounds Ihat it is applyirvJ fRS1021A. Flxed assets and depreciation F￿ed assets ar8 reftecte¢J at law value. Any m¥effl￿t vakjation istsken to thg reslri¢ted Iwd. 11 is the Trustees pK4icy mantain all buildit¥Js &) suth a standard that their estim8ted resklval value Is not less than th8if Ujst at any given time. 8nd. consequently. no depreciation is ne¢essary. {d) Inv85tment$ Stock5 shares are inclLKled in Ihe Balance Sheet at market value, whKh 15 deemeij to be fair value. Both rgaliwj and ur￿lis8d investTTEnl gains losses are sh(win in the slatemeni of rinancial aCtiV￿.es. lel Income BaThk inter851 and inlefesl e8rn8d cffi funds hdd by storknrokers is stated gross and is included on a receivable bask8 InvEStmenl inu>me is included on a WNatrAe basi% aThJ indul lund. Page 8 THE NORMAN TAYLOR EDVCATIONAL AND AID FOR THE ELDERLY TRUST REGISTERED CHARITY NUMBER: 284859 NOTES TO THE FlhlAN¢IAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 EXCEPTIONAL COSTS 2024 2023 ProfiVILosse51 on sale of inveslments DONATIONS 2024 2023 Inslltutlons David Tayk)r Housing Twst The donalK)ns are made ￿ ar￿￿rdar￿ wilh th& d4"edivÈs ofthe Charity to aS5i51 8ld8rty and rati￿. GRANTS PAYA8LE 2024 2023 IndlvlthJa15 Educat￿nal The educational ￿anIS are ￿ade lo irmlividuais in aCc￿danCe with the obiÈ(kn"¥es d the Charity OTHER COSTS 2024 2023 Gov8rnanco c05t5 Legal and a(Stninistrdlion costs Aecounl8ncy fees Bank charg86 6.488 2.S20 4.914 2,520 9.408 7.434 The Charity has rK) emI￿OyeeS. and the Trustees recdva no rèmuneralK)n or eXpe￿e$. Page 9 NORMAN TAYLOR Et)UCATIONAL AND AIO FOR THÉ ELDERLY TRUST REGISTE D CHARITY NUMBÈR: 284B59 NOTES TO TAE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 202 TANGIBLE FIXED ASSETS Fr¢ehc*ld land and bulldlngs Valuatlon At 6th Awl 2023 650,000 Rtrvaluation At 5th April 2024 650,Crf)O O¢pr¢cSallon Al 6th April 2023 and 5th April 2024 Ne¢ book amount At 5th April 2024 Ai 5th April 2￿23 The fr8ets)kJ lènd and buikjirgs were trthpeThJently valwl by an appropriately qualthed Chartered Survey on the basis of open market va*Je lor exislir¥J use ￿ tenants on 11 Febwary 2020. The Truste85 have reviewed the curTert market cMthtioTh ofthe property aThJ con4der th8 valuation to b8 thè fair value as at S April 2024. Total 2024 Total 2023 FIXED ASSET INVESTMENTS l u$8d for charltable purposes Valuatlon al 6th N4Jwll 2023 Additions at C051 Disposals al fflarket value Unrealised gainsllbssesl 1.138,336 978,445 11.008,8701 53.451 1.242.045 60,699 {75.9951 188,4131 Valuatlon at 5th Aprll 2024 Hlstorfcal cost at 51h Aprll 2024 1.116.616 OEBTORS Amount5 lalllng (lu* wlthln one year 2024 2Q23 rued investment CREDITORS Amounts falling due withln one year 2024 2023 Accrued expenses Dawd Tayor Houskng Trusl 3.955 19.107 17.787 23.371 23,062 Page 10 THE NORMAN TAYLOR EOUCATIChNAL AND AID FOR TrIE ELDERLY TRUST REGISTEREO CHARITY NUMBER: 284859 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2023 10. A14ALYSIS OF CHARITABLE FUNDS At fAh Aprll 2023 Al 5th Aprfl 2024 G)In T¥an5fer Ilossesl Income Ex￿ndItur* Unrestrlct8d fund$ G￿e[al fund Designated funtj 1.070.897 35.511 163,6321 58,917 1.101,693 80.000 1.1￿.897 35.511 163.6321 58.917 1.181.693 R¢str6¢¢¢d lynd$ 650,000 The de￿9￿e0 fur￿ reLgte5 10 a r8seN8 for Ih8 luture repays to BrimLaThds Farm. The Trustees wanl to se¢ aside funds r¥yw so tha¢ th8Tè are ad8qual8 res0w￿5 in the fulure lo meel the (t)5ts ol any work deemed to be reouirecl. The Tfuslees have agreed 10 cap thts fund al £80.(KK). 11. CONNECTED CHARMES The Charity wa5 establish8d lo make grants to The Davkj Hous*v) Trust for Elderfy and R8tired Persons (Registered Charity Number.. 2361021. DMa¢ions or £39.(￿l2023- £39,CIJOl waty ry* to trms Ch8riiy duriryJ the ye8f. 12. TRUSTEES, REMUNERATION The Trus18es were ml entit￿ to. th"d not receNe any. ￿M￿neral%)n from the Twsl during the year ot the previous year. 13. NET ASSETS BETWEEN FUNDS General Unrestricted Restrlctsd Tot Fixed 8sset5 Current assets Current lia￿11110$ 1.161.362 43.702 123,3711 B￿,(XKI 1,811.362 43,702 123.3711 1.181.693 6SO. 1,831.6 14. RELATED PAR TIES The Trustees re9ar¢J The Da￿￿ Ta￿ HousbvJ Tiust as a ￿lated p8rty h8￿ng kJenb"¢81 Trustees and the same fryjnder. During the year, The Nomian T8yk)r Eijucational and Aid for the ElI￿lY Trust Pa1d expersses of £1,320 12023 - £1.2601 on behalf of The Day￿ TaW(K Housng Trust and made O￿allonS lo them 01 £39,000 12023- £39.0001 At the y8af end The Norman Tayl￿ Educatwal Aid lor Ihe Elderly Trusl (y•JÈd a rEI 8rnOUlIt or £17,78712023- £19,107) to The Davhy HougryJ Trust. Pa9e 11 FC¥i TRUSTEES. REview PURPOSES ONLY THE NORMAN TAYLOR EDUCATIONAL AND AID FOR ThE ELOERLY TRUST REGISTERED CHARITY NU 284859 INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR eNDED 5TH APRIL 2024 2024 2023 Note INCOME Elmdends and interest re¢eNed 3S.S11 47,264 EXPENDITURE DirÈ¢t charltablt ¢XP8nditure-. DMalion5 Grant- Eéu¢ab'onal 39.ClXI 39,000 2,000 39.(K*) 41.000 Admlnistrallon •xp8n5es-. Clerk and adminislralN)n costs Legal and professonal fees Ac¢ounlancy fees siockbrok8r fee5 Bank th8rg8S 6.333 4,359 555 2,520 6,865 2.520 15.224 2tl.632 14.299 Tolal expenditure 63.632 55.299 t>eficitol incorne over 8xpeNfthtre orthnary 8divities 128.1211 (8,0351 R¢ali$8d11055esVgains ffl inve5trt*nts (1,4181 Net $urplu51ldeficitl b8fr)re ￿ea￿"sed Ilossesygains Unrealised11ossesygain$ on Thestments and fix8d assets 122.6551 19,4531 53.451 188,4131 Property revalualK)n surp1￿8 of lexp*nditurel over Income lor the ygar 30.796 197,8661 This page do8s fom) ￿rI of the slaiut¢xy financil stst8ments