Charlty reglstratlon number 503239 THE ELLA DUNN HOUSING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
THE ELLA DUNN HOUSING TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Mr J A Fenwick Mr P F Wwalker Mr J C Fenwick Charlty number 503239 Principal address 34 Myton Road Ingleby Barwick Stockton on Tees TS17 OWG Independent examlner Davies Tracey Swan House Westpoint Road Teesdale Business Park Stockton on Tees TS17 6BP Punch Robson Solicitors 34 Myton Road Ingleby Barnick Stockton on Tees TS17 OWG Sollcltors Investment advisors Charles Stanley & Co Ltd 7 Park Row Leeds LS15HD
THE ELLA DUNN HOUSING TRUST CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 5-10
THE ELLA DUNN HOUSING TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 The trustees present their annual report and financial statements for the year ended 5 April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practi 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 2019). Objectives and activitles The objective of the charitable trust is the provision of housing for aged persons of limited means. Public benefrt Publlc benefit The trustees have considered the Charity Commission's guidance on public benefit when reviewing the trust's aims and objectives and in planning tUre activities. Achievements and performance Significant activities and achievements against objectives The trustees continue to maintain eight bungalows at Norton, near Stockton-on-Tees, which are occupied by older people of limited means. Flnancial review In the year ended 5 April 2024 there was a net incoming resources of £7,321 (2023: (£14.875)). Total funds at 5 April 2024 amounted to £1,234,778 (2023: £1,227,457). Reserves policy Reserves policy All of the trusts reserves are unrestricted and held for use as and when it is required. Structure, governance and management Governlng document The charity is controlled by its goveming document, a deed of trust and constitutes an unincorporated charity. The trustees who served during the year and up to the date of signature of the financial statements were.. Mr J A Fenwick Mr P F Wwalker Mr J C Fenwick Recniitment and appointment of tnistees when a vacancy occurs, the trustee undertake a skills audit to ascertain what particular expertise and background is desirable and a search committee is formed to seek a suitable new recruit. Trustees are given an induction on joining the Board. the content of which is tailored to their particular existing skills and interests. The trustees, report was approved by the Board of Trustees. Mr P F W Walker Trustee Date.. L- o G&vgi L£)
THE ELLA DUNN HOUSING TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ELLA DUNN HOUSING TRUST I report to the trustees on my examination of the financial statements of The Ella Dunn Housing Trust (the Trust) for the year ended 5April 2024. Responslbilities and basis of report As the trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the CharitiesAct 2011 (the 2011 Act). I report in respect of my examination of the Trust's financial statements carrted out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Cornmission under section 145(5)(b) of the 2011 Act. Independent examiner's ststement I have completed my examination. I confirm that no matters have come to my attention in connection wrth the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act., or the financial statements do not accord wrth those records. or the financial statements do not comply with the applicable requirements Conrning 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 concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in or er to enable a proper understanding of the financial statements to be reached. C Davies Davies Tracey Swan House Westpoint Road Teesdale Business Park Stockton on Tees TS17 6BP la
THE ELLA DUNN HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Unrestricted funds funds 2024 2023 Notes Income from: Charitable activities Investments 31,899 13,516 30,210 9,664 Totsl Income 45,415 39,874 Expenditure on: Charitable activities 57,174 37,089 Total expenditure 57.174 37,089 Net gainsl(losses) on investments 19.070 (17.660) Net incomel{expenditure) and movement in funds 7,311 (14.875) Reconciliation of funds: Fund balances at 6April 2023 1,362.457 1,377,332 Fund balances at 5 April 2024 1.369,768 1,362,457
THE ELLA DUNN HOUSING TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Notes Flxed assets Investment property Investments 1,010,000 335,575 1,010,000 324.559 10 1,345,575 1,334,559 Current assets Debtors Cash at bank and in hand 11 287 25,586 246 29,219 25,873 29,465 Creditors: amounts falllng due within one year 12 (1,680) (1,567) Net current assets 24,193 27.898 Total assets less current liabilities 1,369.768 1,362,457 Net assets excluding pension liability 1,369,768 1,362,457 The funds of the Trust Unrestricted funds 1,369,768 1,362,457 1,369,768 1.362.457 The financial statements were approved by the trustees on Mr P F Wwalker Trustee
THE ELLA DUNN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Charlty Informatlon The Ella Dunn Housing Trust is an unincorporated charity governed by a deed of trust. 1.1 Accounting convention The financial statements have been prepared in accordan with the Trust's goveming document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102°) and the Charities SORP "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 2019). The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial ststements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the Twst has adequate resources to continue in operational existence for the foreseeable future. Thus the trLBtees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted fund5 are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capitsl must be maintained by the Trust. 1.4 Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
THE ELLA DUNN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policies {Continued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activty. The costs of each activty are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Investment properties Investment property, which is property held to eam rentals andlor for capital appreciation. is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. 1.7 Flxed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The Trust has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balance5, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
THE ELLA DUNN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng policies {Continued) Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Trust's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Charitable activltles Accommodatlon Accommodatlon 2024 2023 Contributions by occupiers 31.899 30,210 Income from Investments Unrestricted Unrestrlcted funds funds 2024 2023 Rental income Income from listed investments Interest re1vable 7,455 5,962 99 6.750 2,914 13,516 9,664
THE ELLA DUNN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Support costs allocated to actlvltles 2024 2023 Governance costs 1,740 1,560 Analysed between: Charitable activities 1,740 1,560 2024 2023 Governance costs comprfse: Accountancy 1,740 1,560 1,740 1,560 Governance costs includes payments to the independent examiner of £1,740 (2023 - £1.560) in respect of the independent examination of £870 (2023 - £780) and other services of £870 (2023 - £780) Trustees There were no trustees, remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5April 2023. Trustees, expenses Trustee's expenses paid for the year ended 5 April 2024 amounted to £573 (2023.. £70) Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows".
THE ELLA DUNN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Gains and losses on Investments Unrestricted Unrestricted funds funds 2024 2023 Gainsl(losses) arising on-. Revaluation of investments Sale of investments 16,437 2,633 (17,538) (122) 19.070 (17,660) Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. Investment property 2024 Fair value At 6 April 2023 and 5April 2024 1,010,000 The properties were last valued on 19 November 2021 by C H Burbury & Co. 10 Fixed asset investments Llsted investments Cash and settlements pending Total Cost orvaluation At 6 April 2023 & 5 April 2024 310,468 14,091 324,559 Carrylng amount At 05 April 2024 310.468 14.091 324,559 At 05 April 2023 310,468 14,091 324,559 11 Debtors 2024 2023 Amounts falllng due within one year: Prepayments and accrued income 287 246
THE ELLA DUNN HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 12 Credltors: amounts falling due within one year 2024 2023 Trade creditors 1.680 1.567 13 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These indude designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 6 April 2023 Incoming resources Resources expended Gains and losses At 5 April 2024 General funds 1,362,457 45.415 (57.174) 19.070 1.369.768 Prevlous year: At 6 April 2022 Incoming resources Resources expended Gains and losses At 5 April 2023 General funds 1,377,332 39,874 (37,089) (17,660) 1,362,457 14 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). 10-