**REGISTERED CHARITY NUMBER: 511025**
**Trustees' Report and**
**Unaudited Financial Statements**
**for the Year Ended 31 March 2024**
**for**
**The Society of Yorkshire Brethren**
Simon Hart FCCA Hart Wright Accounting Chartered Certified Accountants 24 Hall Drive Sutton In Craven North Yorkshire BD20 7NH
**The Society of Yorkshire Brethren**
**Contents of the Financial Statements for the year ended 31 March 2024**
||**Page**|
|---|---|
|**Trustees' Report**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Statement of Financial Position**|6|
|**Notes to the Financial Statements**|7 to 10|
|**Detailed Statement of Financial Activities**|11|
**The Society of Yorkshire Brethren**
## **Trustees' Report for the year ended 31 March 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
When planning our activities for the year, the trustees have considered the Charity Commissioner's guidance on public benefit. The object of the society is the assistance of such of its members who through sickness, infirmity or old age are unable to support themselves and who are in serious necessitous circumstances. In particular, but without in any way limiting the generality of the foregoing, the society may assist such persons in any of the following ways: (i) by making specific lump sum payment;
(ii) by making monthly or other periodical allowances;
(iii) by making grants or loans (with or without interest) of such amounts and subject to such conditions as the trustees shall from time to time determine;
(iv) by making grants or allowances for the purpose of medical or dental treatment and care;
(v) by paying subscriptions or making donations to hospitals, homes or institutions having amongst their objects the care and treatment of such persons.
## **Grantmaking**
Grants payable are accounted for when the trustees have accepted an obligation to make a grant, in accordance with the objects of the society. This is usually when they are approved by trustees and communicated to recipient.
## **ACHIEVEMENT AND PERFORMANCE**
## **REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS**
The trustees are pleased to present the accounts for the year. As at the balance sheet date the charitable fund was valued at £2,784,529 (2023 - £2,188,168), representing a net increase of £596,361 on the previous year.This does, however, include a legacy of £325,000 donated during the year.
Investment income at £62,727 (2023 - £47,994) was slightly down on the previous year.
The council made grants of £90,350 (2023 - £79,550) in the year, this represented an increase of £10,800 compared to the previous financial year.
The trustees hold a letter from HM Revenue & Customs dated 10 March 2000 which states "'I am now able to confirm that the grants made by the Yorkshire Brethren fund are non-taxable".
The trustees pay grants in December of each year.
The trustees are satisfied that the society's assets are available and adequate to fulfil its obligations
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The long term objectives of the trustees are:
a) To maintain the long-term purchasing power of the capital against inflation whilst achieving a balance between capital growth and the generation of income for the charity.
b) To review the long-term performance of the investment managers on a three year rolling basis
## **Reserves policy**
The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ('the free reserves') held by the charity should be between 3 and 6 months of the unrestricted resources expended, which equates to £25,183 to £50,366 in general funds. The free reserves held as at 31 March 2024 were £114,291. At this level, the trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding.
Page 1
**The Society of Yorkshire Brethren**
## **Trustees' Report for the year ended 31 March 2024**
## **FINANCIAL REVIEW**
## **Going concern**
The trustees have reasonable expectation that the charity has adequate resources to continue in existence for the foreseeable future. They continue to believe the going concern basis of accounting is appropriate in preparing the financial statements
## **STRUCTURE, GOVERNANCE AND MANAGEMENT CONSTITUTION**
The society was constituted under rules originally approved on 27 November 1667. The current rules of the Society were approved on 9 June 2015
## **METHOD OF ELECTION OF TRUSTEES**
Trustees are appointed by the council
## **INVESTMENT POWERS**
The council may invest as if they were beneficially entitled
## **ETHICAL RESTRICTIONS**
a) No investments in armaments
b) The investments to reflect the teaching of the Catholic Church in moral matters
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
511025
## **Principal address**
Flat 2 33a Shine Oak Road Leeds LS62DD
## **Trustees**
Rev Canon D Grant Chairman Rev Canon M McCreadie Treasurer Rev Canon T Wiley Secretary Rev Fr M Kelly Rev Andrew Summersgill Rev Richard Marsden Rev John Cook
## **Independent Examiner**
Simon Hart FCCA Hart Wright Accounting Chartered Certified Accountants 24 Hall Drive Sutton In Craven North Yorkshire BD20 7NH
## **Bankers**
Yorkshire Bank 94 Albion St Leeds LS1 6AG
Page 2
**The Society of Yorkshire Brethren**
## **Trustees' Report for the year ended 31 March 2024**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Rev Canon M McCreadie - Trustee
Page 3
## **Independent Examiner's Report to the Trustees of The Society of Yorkshire Brethren**
## **Independent examiner's report to the trustees of The Society of Yorkshire Brethren**
I report to the charity trustees on my examination of the accounts of The Society of Yorkshire Brethren (the Trust) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Simon Hart BA FCCA
The Association of Chartered Certified Accountants
Simon Hart FCCA Hart Wright Accounting Chartered Certified Accountants 24 Hall Drive Sutton In Craven North Yorkshire BD20 7NH
Date: .............................................
Page 4
**The Society of Yorkshire Brethren**
## **Statement of Financial Activities**
## **for the year ended 31 March 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
Other income
**Total**
**EXPENDITURE ON**
**Raising funds**
Raising donations and legacies
4
**Charitable activities**
5
Grants
Governance costs
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
87,350
62,727
481
150,558
-
-
90,350
10,383
100,733
-
49,825
64,466
114,291|Restricted
fund
£
325,000
-
-
325,000
15,172
15,172
-
-
15,172
236,708
546,536
2,123,702
2,670,238|2024
Total
funds
£
412,350
62,727
481
475,558
15,172
15,172
90,350
10,383
115,905
236,708
596,361
2,188,168
2,784,529|2023
Total
funds
£
44,941
47,994
1,510
94,445
17,355
17,355
79,550
8,515
105,420
(185,383)
(196,358)
2,384,526
2,188,168|
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
## **The Society of Yorkshire Brethren**
|**CURRENT ASSETS**
Investments
Cash at bank
**CREDITORS**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
Restricted funds:
Restricted Fund
**TOTAL FUNDS**|**Statement of Financial Position**
**31 March 2024**
Unrestricted
Restricted
fund
fund
Notes
£
£
10
49,005
2,679,910
73,822
-
122,827
2,679,910
11
(8,536)
(9,672)
114,291
2,670,238
114,291
2,670,238
114,291
2,670,238
12|2024
Total
funds
£
2,728,915
73,822
2,802,737
(18,208)
2,784,529
2,784,529
2,784,529
114,291
2,670,238
2,784,529|2023
Total
funds
£
2,165,571
39,534
2,205,105
(16,937)
2,188,168
2,188,168
2,188,168
64,466
2,123,702
2,188,168|
|---|---|---|---|
||**31 March 2024**
Unrestricted
fund
Notes
£
10
49,005
73,822
122,827
11
(8,536)
114,291
114,291
114,291
12|||
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 6
**The Society of Yorkshire Brethren**
## **Notes to the Financial Statements for the year ended 31 March 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a 'true and fair' view and 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 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Income**
All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met, where there is entitlement, probable assurance of receipt and the monetary value of incoming resources can be measured with sufficient reliability.
## **Expenditure**
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Governance costs**
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
## **Taxation**
As a registered charity the entity benefits from rate relief and is generally exempt from Income Tax and Capital Gains Tax but not from VAT. Irrecoverable VAT is included in the cost of these items to which it relates.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
The charity only has the basic financial assets and liabilities of a kind that qualify as basic financial instruments. These are recognised at transaction value and subsequently at settlement value.
continued...
Page 7
## **The Society of Yorkshire Brethren**
## **Notes to the Financial Statements - continued for the year ended 31 March 2024**
|**2.**
**DONATIONS AND LEGACIES**
2024
£
Donations
100
Legacies
412,249
412,350
**3.**
**INVESTMENT INCOME**
2024
£
Dividends receivable
62,727
**4.**
**RAISING DONATIONS AND LEGACIES**
2024
£
Brewer Dolphin fees
15,172
**5.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Support
(see note
costs (see
6)
note 7)
£
£
Grants
90,350
-
Governance costs
-
10,383
90,350
10,383
**6.**
**GRANTS PAYABLE**
2024
£
Grants
90,350
**7.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Governance costs
3,146
7,237||
|---|---|
|||
|||
|||
continued...
Page 8
**The Society of Yorkshire Brethren**
## **Notes to the Financial Statements - continued for the year ended 31 March 2024**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020
## **Trustees' expenses**
|**Trustees' expenses**|||
|---|---|---|
||2024|2023|
||£|£|
|Trustees' expenses|1,100|1,100|
## **9. STAFF COSTS**
|The average monthly number of employees during the year w
Trustees
No employees received emoluments in excess of £60,000.
**10.**
**CURRENT ASSET INVESTMENTS**
Value
2024
£
UK quoted investments
2,705,751
UK Portfolio cash
23,163
2,728,915
MOVEMENT IN FAIR VALUE
Market value at 1 April 2023
Acquisitions at cost
Disposals at opening book value
Net gains (losses) on revaluations in the
year
Market value at 31 March 2024
Cash awaiting investment
Fair value at 31 March 2024
Historical cost as at 31 March 2024|as as follows:
Value
2023
£
2,074,013
91,560
2,165,573||
|---|---|---|
||||
Investments are valued at fair value at each year end. All investments are held within restricted funds.
continued...
Page 9
**The Society of Yorkshire Brethren**
## **Notes to the Financial Statements - continued for the year ended 31 March 2024**
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Trade creditors
Other creditors|2024
£
-
18,208
18,208|2023
£
16,936|
|||16,936|
## **12. MOVEMENT IN FUNDS**
The restricted fund is represented by the Investment portfolio held by Brewin Dolphin.
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
Page 10
**The Society of Yorkshire Brethren**
|**Detailed Statement of Financial Activities**
**for the year ended 31 March 2024**
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
100
-
Legacies
87,249
325,000
87,350
325,000
**Investment income**
Dividends receivable
62,727
-
**Other income**
Mass Offering
481
-
**Total incoming resources**
150,558
325,000
**EXPENDITURE**
**Raising donations and legacies**
Brewer Dolphin fees
-
15,172
**Charitable activities**
Grants to individuals
90,350
-
**Support costs**
**Management**
Trustees' expenses
1,100
-
Postage and stationery
2,046
-
3,146
-
**Governance costs**
Wages
1,045
-
Accountancy and legal fees
3,120
-
Trustees' meetings and AGM
3,072
-
7,237
-
Total resources expended
100,733
15,172
**Net (expenditure)/income before gains and**
**losses**
49,825
309,828
**Recognised gains and losses**
Unrealised gains/(losses) on fixed asset investments
Realised gains/(losses) on fixed asset investments
-
249,209
(12,501)
**Net (expenditure)/income**
49,825
546,536|2024
Total
funds
£
100
412,249
412,350
62,727
481
475,558
15,172
90,350
1,100
2,046
3,146
1,045
3,120
3,072
7,237
115,905
359,653
249,209
(12,501)
596,361|2023
Total
funds
£
100
44,842
44,941
47,994
1,510
94,445
17,355
79,550
1,100
661
1,761
-
3,288
3,466
6,754
105,420
(10,975)
(162,130)
(23,253)
(196,358)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 11