THE CHARITY OF HERVEY AND ELIZABETH EKINS Registered Charity Number 309858
Report and Accounts for the year ending 30 September 2022
THE CHARITY OF HERVEY AND ELIZABETH EKINS
Information
Trustees Mrs Honor Pacey (Chair) Mrs Rhiannon George Councillor Stephen Hibbert The Rev’d Byung Jun Kim Councillor Andrew Kilbride Mrs Maureen Luke Mr Richard Pestell The Rev’d Haydon Spenceley The Rev’d Canon Beverley Hollins Clerk Richard Pestell Charity number 309858 Bankers Nat West plc Weston Favell Centre Northampton NN3 2QH
THE CHARITY OF HERVEY AND ELIZABETH EKINS
Trustees' report for the year ended 30 September 2022
Principal activity and objects
The object of the charity is to promote the education (including social and physical training) in accordance with the doctrines of the Church of England of young persons residing in the area of benefit. The area of benefit is the area of the Ecclesiastical Parishes of St Peter Weston Favell, St Peter and St Paul Abington and Emmanuel Northampton, the Parish of Great Doddington and the Borough of Northampton. Preference is given to boys and girls residing in the Ecclesiastical Parishes of St Peter Weston Favell, the St Peter and St Paul Abington and Emmanuel Northampton. Weston Favell Church of England School is the school of the charity. Up to one-third of the income of the charity can be given to the school and other schools in the area of benefit. The balance of the income is available for grants to individual young people and in support of religious education.
Public Benefit
The trustees are aware of their obligation to provide public benefit. They have complied with their duty to have due regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.
Trustees
During the year, Mrs Honor Pacey continued as the Chair. Changes in the membership of the trust are given in the information section of the report and accounts.
Review of activities and achievements
During the course of the financial year income from investments totalled £38,083(£36,292 in 2020/21). Grants of £28,865 were paid, a decrease on the previous year (£33,500). No grants were made to schools as in the previous year. Grants of £28,365 (including £3,815 awarded the previous year but not paid until the current year) were made to churches and other charities in the area of benefit for children’s work and grants of £500 to a young person. The comparative figures in the previous year were £27,000 and £1,500.
Endowment
The Charity’s endowment is invested in funds managed by M & G investments and CCLA. On the 30th of September 2022, the year end, these totalled £1,061,062, a decrease on the previous year’s valuation of £1,165,442. This was in line with market trends.
Reserves Policy
The trustees agreed that £50,000 should continue to be held as a reserve to enable grants to be made at a similar level for a year should investment income significantly decrease.
Financial statements
At the year end over £50,000 of funds in excess of required reserves were available to make grants as a result of reduced activity during the Covid 19 pandemic. The trustees continue to seek to reduce this sum by increased advertising of the funds available. The financial statements which follow consist of an income and expenditure account, a statement of assets and liabilities and related notes from the accounting records.
The Charity of Hervey and Elizabeth Ekins (Registered Charity No 309858)
Income and Expenditure Account for the year ended 30 September
2022
| Income & Expenditure | Income & Expenditure | |||||
|---|---|---|---|---|---|---|
| 2021/22 | 2021/22 |
2020/21 |
2020/21 |
|||
| Income | £ | £ | £ | £ | ||
| Dividends (Note | 1) | 37,453 | 36,280 | |||
| Interest Received (Note 2) | 630 | 12 | ||||
| Total Income | 38,083 | |||||
| 36,292 | ||||||
| Expenditure | ||||||
| Grants under Clause S28(1) of the | ||||||
| Scheme (Note 3) | 0 | 5,000 | ||||
| Grants under Clause 28(2) | of the | |||||
| Scheme (Note 4) | 28,865 | 28,500 | ||||
| Total Expenditure | 28,865 | 33,500 | ||||
| Net movement | for the | Year | 9,218 | 2,792 | ||
| Cash balances |
Balance brought forward as at 1st October 2021 128,037 125,245
Balance carried forward as at 30th September 2022 137,255 128,037
The Charity of Hervey and Elizabeth Ekins (Registered Charity No 309858)
Statement of Assets and Liabilities as at 30th September 2022
| 2021/22 2021/22 |
2021/22 2021/22 |
2021/22 2021/22 |
2020/21 | 2020/21 |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Investments | ||||
| 16,772.68 Charifund (at 30/9/22) | 230,104 | 257,878 | ||
| 138,067.431 Charibond (at 30/9/22) | 143,052 | 168,594 | ||
| 249,576.01 COIF Ethical (at 30/9/22) | 687,906 | 738,970 | ||
| 1,061,062 | ||||
| 1,165,442 |
Current Assets
| National Westminster Current | 32,737 | 15,314 |
|---|---|---|
| COIF Deposit | 104,518 | 112,723 |
137,255
128,037 Total Assets 1,198,316 1,293,479
The Charity of Hervey and Elizabeth Ekins (Registered Charity No 309858)
Notes to The Accounts 2021/22
| Note | 1: Dividends | ||
|---|---|---|---|
| 2021/22 | 2020/21 | ||
| £ | £ | ||
| Charifund | 13,250 | ||
| 11,406 | |||
| Charibond | 3,038 | ||
| 3,935 | |||
| COIF | Investment | 21,164 | |
| 20,939 |
| Total | 37,452 | ||||
|---|---|---|---|---|---|
| 36,280 | |||||
| Note 2: Interest | |||||
| CCLA Deposit | 631 | ||||
| 11 | |||||
| Total | 631 | 11 | |||
| Note 3:Grants under clause 28.1 | |||||
| Weston Favell CE Primary School | 0 | ||||
| 5,000 | |||||
| Total | 0 | 5,000 | |||
| Note 4: Grants under clause | 28.2 | ||||
| Churches and other charities | 28,365 | ||||
| 27,000 | |||||
| Music and residential activities | 0 | ||||
| 0 | |||||
| Further and | higher education | 500 | |||
| 1,500 | |||||
| Total | 28,865 | ||||
| 28,500 |
INDEPENDENT EXAMINERS REPORT
I report on the accounts of the Trust for the year ended 31 September 2022. 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;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
Your attention is to drawn to the fact that the charity has prepared the accounts (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 been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act.
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.