Horace Ta lor Trust ort for the Year Endin Annual Re 5thA ril 2024 The statement of accounts show the currant financial position of the Trust. The balanc8 sheet show8 a historical valuation of the propertles, whlch are presentty undervalued. Compared to the previous year, the Trust rental inGome was similar but there was a significant Incr8as8 in bank int8rest which increased the unrestricted fund, d8spIt8 Increased donations during the reportlng year. The six residential apartm8nts at Wesley Court continue to be offered on charitable terms to residents of Driffield and th& surrounding area. The occupation has again been sucSsful with 100 % occupation during the reporting perii)d. Th8 ground floor commercial unit at 46 Middle Street North contlnues to be occupied as a hairdressing salon with ancillary use. The four flats at the same property have been rented successfully throughout the year. At Lairhill Fami, Middleton, the house continues to be let and the process of conv8rting the redundant brick and tiled buildings to residential use continues to progress through the planning process albeit slowly. The same cornments apply to the planning process to convert the traditional farm buildings at Pleasant Wood Farm, Wansford where the house contlnues to be let successfully. The farm land at Wansford continues to b8 considergd for part of an energy sch8me. At Flamborough, High Warrendale Farm and Lowwarrendale Fami there is nothing signrficant to report for the year, although th8 Tenant at Flamborough has given notice to r8tire In October 2024. The Trustees continue to review their investment strategy and decided that cash deposits held at the bank remain the correct policy to undertake during the economlc condltlons and pending the developrnent costs of converting the farm buildings as mentioned above into residential use. The Trustees have continued with their medium risk investment with the portfolio of shareholdlngs managed by stockbrokers. The remaining cash balances have once again been invested with a number of different bankslbuilding societies for strategic security reasons. The Trustees decided to retain thelr propety investsnents and also expressed interest in considering the purchase of suitable property to add to their portfolio if the opportunity should arise. The Trustees donated the minl bus to the Driffield Klngs Mill Special School an organisation with a close affiliation to the Trust. The Trustees have continued to provide financial assistance to local charities, churches, schools and recreational clubs within the administrative area of the Trust. They have also granted educational bursaries to school 18avers awaiting th'eir-first year at-Unlv6rsity. During the year there were no changes to the Trustees. Date: 31st January 2025
HORACE TAYLOR TRUST STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2024
HORACE TAYLOR TRUST BAL4NCE SHEEr YEAR ENDED 5APRIL 2024 2024 2023 Notes R6strl¢tsd Capltal Fund Flxed assets Freehold land and bulldlng8 Currènt assets Invtsslmènt Fund Bank accounts 1,592.849 1,590,387 146.847 423,568 2.163,063 147.559 426,030 2,163,976 UnrèstrlGtèd Inctsmè Fund Flxed as$gts Minibus Current ass6ts Investment Fund Bank accounts Deblors and prepayments Currènt liabrlltles Creditors and aGGruals 4,108 31,287 1,318,193 67,036 25,285 1,245,588 88,082 {10,730 1.405,786 110 663 1,332,400 Net current assets Total ngt assets 3,568.849 3,496,376 Ropyaserrtgd by: R8stiiGt8d Capital fund I pag8 2) Unraslrictgd inooma fund I pag@ 21 2,163,063 1,405,786 2,163,976 1,332,400 3,568,849 3,496,376 D.P. Atkinson, Chairman Dat6: 28th Novembar 2024 On b8h2lf of the Board of Twslee8
HOFIACE TAYLOR TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2024 Rgstrctgd Capitsl Fund Unre$trid8d Income Fut)d TOTAL Balance brought forward al 6 April 2023 2,183,976 1,332,400 3,496,376 Ng18Utplus forthe yaar I page 3 1 73,581 73,581 2,163,976 1,405,981 3,569,957 Investm&nt revaluation 1913} {1951 11,1071 Bal@nce caffted furward &1 S Aprll 2024 2,163 063 1.405,786 3.588 849 Note.. the reslrfcted Gapltgl fund Is not distribuloble. The unreslri¢led Income fund Is dlslrlbulable., s86 note 710 the accounts.
HORACE TAYLOR TRUST UNRESTRICTED INCOME FUND INCOME & EXPENDITURE ACGQUNT YEAR ENDED 5 APRIL 2024 2024 2024 2023 2023 Noles Income r<enlal Incom8 Ipagg 13} Investment Income Bank Inter881 recelvable Wayleaves 196,463 6.197 36,e46 e87 200.436 7.100 8,337 687 Totsl Income 239,993 216,560 Exp#ndlturè Manag8m•nt and admlnlstratlon costs.. Property &XPonses: Ropairs and radecorallng D88, Atkinson, & Harrf80n.' -Commlsslon on rents Legal and professional f&6s Insuranc8 Eledrlclty and gas Water Council Tax Sundry expenses 20,584 18,432 23,025 2,400 4,837 1,742 473 24.715 2,400 4,460 1.725 358 1.004 92 121 53,256 53.185 Other management expenses Accountancy fees 2,170 1.981 55,426 55,166 Runiiing costs otminibus 2,272 Donatlons to local charities 106,880 72,800 Total expendlture 162,306 130238 Loss on dlsposal ofasset 4,106 Surplus for thg yoar 73.581 86,322
HORAC£ TAYLOR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2024 1. A¢¢ountlng pollcles Gen$ral Th6 flnanclal statements havè b66n prepared In accordance wllh tha Charllles Act 2006, and in accordanca wrth gonerally accepted aGGounllng stsndards and the Charllies Slalement of Recommended Practice 2005. The finanaial statsments have been preparad undér Ihg historlcal cost convention, wlth thè exception of Investment assets whlch are included al market value. D&pr8clabon No depreclatlon ha8 been provlded on the freehold land and bulldlngs held by the Tru8t. Tha property 18 6XP8Cted to retsin or increa8e ils value over lime. The mlnibus wa8 baing wrltten off at 25% per annum on a rodu¢lng balance basls, but ha8 ce3s8d in 2024 dua lo dlsposal. 2. Freehold land and buildings The Trust hoids'the followlng properties whl¢h are managod to raisg rent81 income and Incomè from th8 sale of limber. All assets ar6 disck)5ed al ocst wllh the 8xc8ptlon of those acquired prior to 11 October 1982 which are dis¢lDsed In aGcordRnGe wllh their valuation as at 11 Qclober 1982. 2024 2023 46 Middle Street North, Drlffield - shop and llats 46 Middle Street North, Dffild - Wesley Court 99.344 400.454 499.798 99,344 400,454 499,798 Acreage 2024 50.83 61.00 182.75 1¢)0.53 217.22 158.88 16.50 88.67 2023 50.83 61.00 182.75 100.53 21722 158.88 16.50 88.87 P18asant Wood Farm, Wansford (2} Pl@2sant Worjd Farm, Wonsford11} Lair Hlll Fami. Middletonwon-the~Wolds Beacon Fami, Flamborough High Warrendab Farm, Kilnwtck Porcy Low Warrendale Farm, Kilnwick Percy Grass & arabl6 land at Bumby l..ane, Pockllngton Woodlands, Warter, Burnby Lane, and Middleton 73,115 46,800 525,284 72,655 204,063 116,000 15,153 40,000 72,770 46,800 523,147 72,655 204,063 116,000 15,153 40,000 876.38 876.38 1,093,051 1,090,589 Restrlcted capltal fund 1,592,849 1,5gO,387 3. Inv8stmont Fund Both the Restricted and Unraslricted Funds have an interest in the Investment Fund. Dislrlbullons, galns and losses from the Inv8slmÈnt Fund are apportioned bebN88n th8 Trust'8 two Funds by refe.rence to thg th6lr indlvldual interests and dlsdosed accotdingly.
HOR4CE TAYLOR TRUST NOTES TO ThE ACCOUNTS YEAR ENDED 5 APRIL 2024 4. Bank a¢counts 2024 2023 Lloyd3 TSB . Curr8nl Account Yorkshire Suilding Soclety- R&glst8red Charity Dep93it Account Barclays Bank- Premlum Notlce Account Float 349.510 313,524 1,000,080 392,171 968,098 387,497 2,500 1,741,761 1,671,619 Restrlctsd capltal fund UnrestrlGtod Incoma fund 423,568 1,318,194 1,741.762 426,030 1.245,589 1,671,619 Deblors 2024 2023 Rentsl income due Sala of land at Flamborough Prepayments & accrued income 56,633 5,375 5.028 57,930 5,375 4,T17 67,036 68,082 Re$trlcted capital fund Unre¥tricted Income fund 67,036 67.036 68,082 68,082 6. Credltors 2024 2023 Trade u8dltors Accruals 5,030 5,700 1 D,730 4,780 5,883 10,663 R#8trlclod capltsl fund Unrostrfcted Income fund 10,730 10,663 10,663
HORACE TAYLOR TRUST NQTES TO THE ACCOUNT8 YEAR ENDED 5 APRIL 2024 7. Funds The Trust was sét up by th8 wlll of Horace Taylor who died on 3 September 1974, Thè Re$trict4d Capllal fund comprlses of propoty {note 2) and th8 proceeds of Sale of property, plus the market value of tha inveslm&nt fund Ino18 31 and is nol available for di8lrlbution. The Unrestrtcted Inoome Fund is an accumulatlng Income fund availablè for locgl charllable purposes. It Includes the Codlcll Fund which was prevlously shown separately withln the accounts. 8. Property exponses - rèpalrs and r8decoratlng 2024 2023 4e Middle Street North Lair Hill Fam Pleasant Wood Farm Low WatTendale Farm High Warrendale Farm Arable Land, Burnby Lane 15,539 96 1,361 8,339 8,623 678 792 2,668 900 20,564 18,432 9. Donatlons to local charltles 2024 2023 2nd Drlfflald Cub Scouts All Saints Church, Driffi8ld Beoford Bowllng Club Bursaries Cardiac Rlsk in the Young East Riding Domeslle Abuse Trust Driffleld & Homsea Melhodlst Clrcull Diiffleld & Wold5 Mental Health Socla5 Group Driffield Afternoon Womens Instliute Drtffleld Agricultural Society Driffield Cross Hill Infant School Dritri8ld in Bloom Drrfli6ld Men in Sheds Driffl8ld Methodlst Church ortffleld Methodlst Lay Worker Drlffl@Id Melhodi8t Play Group Drfffièld Rifta Club Driffi8ld Roman Catholi¢ Church Drfffield Salvatton Amy DffIeld Town Cricket Club Dffle1d Ukulele Hand First Steps Pre School Friends of Drfffield Back Kilham PlayFng Fi¢ld Klngs Mlll School Love DTlffield Nafferton Methodist Church Nafferton Prirnary SGhtsol Nafferton Scout Group New Hope Church St CalheTine's Hospice St Marys Church, Kirburn St Marys Church, Little Driffiekl st Marys Church, Sledmere St Marys Church,Watton St Peter8 Chruch, LangtDft Yorkshiro INolds Rallway 2.000 14,597 750 3,750 7,500 210 1,000 700 500 10,500 400 1,000 11,000 400 650 1,322 500 1.500 1.485 5,000 570 13.000 3,000 1.375 500 1,500 1,006 2,500 2,000 36,000 1,500 500 4,800 1,000 2,000 2,000 2.000 10.000 4,000 9,665 1.000 106.880 72,800
HORACE TAYLOR TRUST NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2024 10. Trustaés The followlng sèrvttd as Trustees throughout the year unless otherwise indlGated'. Mr. D. E. Lundy Mr. D. P. Ad<inson Mr. P. W. Bradbury Mr. R. Week8S Mr. E. R. Sheph6rdson Reverend S Granl R8v6r8nd R Teal Ms S. Mellor
INDEPENDEMT EXAMINER'S REPORT TO THE TRUSTEES OF HORACE TAYLOR TRUST We report on the aGcounts of the Trust for th8 year ending 5 Aprll 2024, whlch are sel out on pages 1 to 7. Ro8pacllve resp0ns1bilrti of Irustges and examiner The charivs tru$tees are responslble for the preparation of the accounts in accordance wllh the requirements of the Cha)ities Act 2011. The charitys trustees consldar that an audit is not required for Ihls yaar under Section 144121 of th8 Charftlas Act (the 2011 Act), and that an Indepandent axamlnation is required. It18 our re8pon5ibility to.. 8xamlne tho accounts sjnder Saction 145 of Ihe 2011 Act, to follow the procedures laid down In the General Directions given by the Charity Commlsslon under Secllon 145(51{bl of the 2011 Ad, and to stale wh&thei' particular mattgrs hav6 comts to our attention. Basls of Indepondent examine¢s rgport Our examlnatlon was undertakers in accordance wlth the General Directions glven by the Charlly Commlsslon. Aft examin2tlon Indudes a review of the a¢counling racords kept by the charity. and a comparison of the accounts presented wlth those recor(Is. 11 also Indudas consid8ralion of &ny unusual Items or dlsclosures In the accounts, and $88klng oxplanallon frorn you as truslg&s concerning suGh mallers. The procedurgs undertak8n do not provÉde all the evrd9nc6 that would be reqijirèd in an audll and tA)nsequ8ntly no opinlon Is given as to whether the accounts present a trLJe and fair viow, and the report Is Ilmlted to th08e matter$ get out in khe next statem8nl. Independent examln•r's #tatement In connection wllh our examlnadon, no material matters hav8 comg to OLJr att8nlion: 11 which gNes us r8ason8bla cau8e lo belleve that in any material rgspacl the requiretllents.. l. lo keep acwunting re¢ords Ins accordance wlth Seotion 130 of the 2011 Act, and 11. lo prepare asunIs whlch accord wlth the accounting records and comply wlth the accounting requirements of th8 2011 Act hav6 not been met, or 2} to which, in our opinlon, attention should be drnwn in order to enable a proper undarstanding af the accouiits to b8 reached. Jackson Robson LIc6nce Llmlted Chartered Accountants 33-35 Exchange Strg8t Driffiald Y025 6LL Date: 28th November 2024
INDEPENDENT &YAMINER'S REPORT TO ThE TRUSTEES OF HORACE TAYLOR TRUST We report on Ihe accounts of the Trust for the year ending 5 ApEII 2024. whlch sel oul on pag68 1 to 7. Rospectlvo r¢$penslbllltles of trustees and examlnor Tha charfty's truste88 ar8 responsible for the preparallon of tho a¢counls In accordanc& wllh the requirements of Ihe Charitie$ Act 2011. The charity's tNsl8&s consider that an audit is not rgqulrod for thls year und8r Secllon 144121 of the Chirflles Act (the 2011 Act), and that an Independent examinatlon Is required. It is our responslbilily to: examlne the accounls under Section 145 of the 2011 Act, lo follow Ihe procédures lald down in the Gener?1 Dirgcllons glven by the Charlty Commission und8r SgGlion 145(5llbl of tho 2011 Act, and to state wheth8r particular matters havg come to our altentlon, Basls of Indapènd&nt axamlner's r•port Our examlnallcln wa5 undertaken In accordance wllh the General Directions given by th8 Charmy ComMl8sion. An examinatton Indud8s a remew of th8 accounting records kept by the charity, and a comparison of th8 accoun18 presented wlth thos8 records. It also includes tsJnsld8ralion of any unusual118mg or dlsclosures In the accounts, and ¥¢&klng &xplanalion from you as trustees ¢oncernlng such matters. The procedures undertaken do not provid8 all the evidence that would be required in an audlt and consequgnlly no opinion is given as to wh8th8r the aG¢ounts present a Irug and fair view, and the report is Ilmllèd to those mèttors sel out in the next statement. Independont examlner's statement In connoction with our examination. no malerlal mattors hav8 com& lo our attention- 11 which uiveg rea80nable cause lo belleve that In any matèrlal SpaC1 the requirements.. i. to keep acix)unttng records Ins accordanc8 With Section 130 of the 2011 A. and li. to prepare accounts whlch acix)rd wlth the accoijnting records and comply wtth the accounting wqulrements of th8 2011 Act have not been met or 21 to which, In our opinlon, attention should be drawn in order to enable a prop understanding of the aGGounts to b9 reached. Jackson Robson Licen¢e Llmlted Chartered Accountants 33-35 Exchange Street Driffield Y025 6LL Date.. 28th Novgmber 2024