THE PISON ASSOCIATION
42 Stonehouse Road, Sutton Coldfield, West Midlands B73 6LL Registered Charity No. 502506
MANAGEMENT REPORT
Year 2023 – 2024
The Report covers the period 6[th] April 2023 to 5[th] April 2024.
The Committee re-elected Trustee Robert Cheshire as Chairman. As we had not been successful in appointing a Treasurer these duties have been carried out by the Chairman. Trustee Jean Jillings-Warner was appointed as secretary.
We continued to employ UHY Hacker Young (Birmingham) LLP as our accountants.
The bungalow and three of the four flats remained fully occupied. The fourth flat became vacant when the tenant moved into a nursing home.
The building and garden have been adequately maintained and upgraded where necessary during the year. Statutory annual inspections have been carried out.
The finances still remain healthy. An increase in value of our investment portfolio reflects an upturn in the markets following the pandemic. We continue to receive twice yearly donations from the E C Cornforth Charity Settlement. Rents are constantly under review bearing in mind the needs of the tenants.
The Annual Accounts were presented to the Committee on the 1[st] February 2025 by the Treasurer and approved by the Committee.
The objects of the Charity as set out in the Rules of the Association have been satisfied and maintained during the last twelve months.
………………………..
R. W. Cheshire
Chairman
PISON ASSOCIATION ACCOUNTS YEAR ENDED 5 APRIL 2024
PISON ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 STATEMENT OF ASSETS AND LIABILITES AT 5 APRIL 2024 Note 2024 2023 Fixed Assets Fixed Asset Valuations Nissan Note 21, Maney Hill Road, Sutton Coldfield 23, Maney Hill Road, Sutton Coldfield 42, Stonehouse Rd, Sutton Coldfield 1,700.00 80,519.00 80,519.00 200,000.00 1,700.00 80,519.00 80,519.00 200,000.00 362,738.00 362,738.00 Investments at Valuation Investment managed by Brewin Dolphin Fidelity India Focus Fund M&G Investment 243,181.02 47,950.35 130,883.59 217,451.41 47,950.35 120.322.00 422,014.96 385,723.76 Total Fixed Assets 784,752.96 748,461.76 Current Assets Lloyds Current Accounl Cash in Hand Cash held.. Brewin Dolphin CAF Cash Gold Account CAF Cash High Interest Account Fidelity Cash Fund Skipton Building Society Loan balances 2,632.81 149.97 4,959.35 231,511.47 3,961.06 25.483.75 173,882.67 22,140.00 212.84 81.42 13,962.96 254,743.81 777.87 24,208.75 179.447.95 24,090.00 Total Current Assets 464,721.08 497,525.60 Total Assets at 5 April 2024 1,249,474.04 1,245,987.36 The above Statement of Assets and Liabilities, the Receipts and Payments Account set out on page 3 and the notes on page 4 R W Cheshlre Chairman The notes set on page 4 form part of these accounts.
PISON ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 RECEIPTS AND PAYMENTS Note 2024 2023 Receipts Rental Income Donations and Subscriptions Dividends & Interest CAF Bank Interest Income Account Skipton Building Society Interesl 8,125.00 6,122.69 10.621.29 3,777.92 1,692.67 3.650.71 10.600.00 4,460.60 8,338.05 1,818.26 5,120.00 1,302.31 33,990.28 31.639.22 Sale proceeds of shares 38,122.07 40,791.21 Payments Water Rates & Insurances Lighting and Healing Window Cleaning Garden Upkeep Repairs - general 72,112.35 72,430.43 3,668.64 13.739.08 560.00 5,948.84 16,953.54 40.870.10 4,087.47 12,934.01 580.00 5,893.80 10.962.71 34,457.99 General Expenses Birmingham City Council Rales Sundry Expenses Health and Safety Professional Fees (Brewin Dolphin) Accountancy Bank Charges Bookkeeping Motor Expenses Poslage & Stalionary 3,611.12 938.24 486.00 0.00 768.00 60.00 600.00 675.83 171.45 7,310.64 3,213.36 554.34 465.60 1,360.88 744.00 72.00 1,305.99 969.22 8,685.39 48,180.74 23,931.61 43,143.38 29,287.05 Purchase of new shares 47.520.14 37.558.19 Disposal of assets - Skipton 9.215.99 0.00 NET (PAYMENTS) I RECEIPTS FOR THE YEAR {NOTE 2) (32,804.52) {8.271.14) The notes set on page 4 form part of these accounts.
PISON ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024 Note 1 Fixed Assets Other Property Motor Vehicle Investments Total Fixed Asset Valuations at 5 April 2023 361,038.00 1,700.00 362,738.00 Investments Valuation at 5 April 2023 385.723.76 385.723.76 385,723.76 748,461.76 361,038.00 1.700.00 Additions 47,520.14 47,520.14 Disposal 39,733.59 393,510.31 361.038.00 39,733.59 756.248.31 1,700.00 Increase l (Decrease) in valuations 28,504.65 28.504.65 Total Fixed Assets at S April 2024 361,038.00 1.700.00 422,014.96 784,752.96 Note 2 Movement of Funds CLJrrent Assets at 5 April 2023 497.525.60 Add: Net receipts for the Year (32,804.52) Funds Represented By Current Assets at 5 April 2024 464,721.08 0.00
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PISON ASSOCIATION
DRAFT
To follow as soon as possible.
The accountants who prepared the annual accounts have only just made it clear to me that they would not be able to provide an independent examiners report and so I have had to find an alternative provider.
Robert Cheshire
04.02.25