REGISTERED COMPANY NUMBER: 03028105 (England and Wales) REGISTERED CHARITY NUMBER: 1048101 Report of the Trustees and Financial Statements for the Year Ended 31 March 2024 for THE RALPH & IRMA SPERRING CHARITY Richardson Sv*ift Audit Ltd Chartered Accountants Statutory Auditor 11 Laura Place Bath BA2 4BL
THE RALPH & IRMASPERRING CHARITY Contents of the Financial Statements for the year ended 31 March 2024 Page Report of the Trustees 1 to 4 Report of the Independent Auditors ststement of Financial Activities Balance Sheet 9 to 10 Notes to the Financial Statements 11 to 15 Detailed Statement of Financial Activities 16
THE RALPH & IRMASPERRING CHARITY Report of the Trustees for the year ended 31 March 2024 The trustees who are also directors of the charty for the purposes of the Companies Act 2006, 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 ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The Charitys object and principal activity relate to any charitable purpose for the general benefit of the inhabitants of the parishes situated in the whole or in part within a five mile radius of the Church of St John the Baptist. Midsomer Norton. Radstock. as the Trustees think fit including bul not limited to the following- to support charitable worf( of hospitals and league of friends of such hospitals in the Trust Parishes. to further the education of the inhabitants of the Trust Parishes and in particular the education (including social and physical training) of children and young people attending schools or colleges of further education in the Trust Parishes. to assist the establishment of village halls, recreation grounds, charitable sports grounds and playing fields in the Trust Parishes and in the interests of vlfare to provide or assist in the provision of facilities for other forms of recreation and other leisure time occupation with the object of improving the condition of life for the inhabitants of the Trust Parishes. to further the religious or other charitable work of the Anglican Churches in the Trust Parishes including the support of the ministry and assisting in the establishment of church halls. Significant fundraising activities The charity did not undertake any significant fundraising activities during the year. All incoming resources therefore derived from current operations and investments. Public benefit The trustees are satisfied that the charity gives due regard to the guidance on public benefit in carrying out its activities. Volunteers The charity does not rely heavily on volunteers other than the yrk of the trustees and management committee which is fully voluntary ACHIEVEMENT AND PERFORMANCE Charitable activities The main areas of the charitsble activities is to use the income generated from the provision of housing and other residential accommodation to support local causes to improve the life of the inhabitants of the Trust Parishes. The charity has generated income from the 35 residential dwellings during the year, from which it has awarded £58,444 to support local causes to the inhabitants of the Trustees Parishes. Accumulated funds at the year end were £7.558,754. Investment performance The trustees are currently satisfied with the investment performance of the assets and at present do not have any plans to expand its portfolio or feel il necessary to dispose of those currently in use. Intemal and external factors The trustees have made a full assessment of the intemal and extemal factors that may affect these financial statements and do not deem any factors material enough to have an impact. Page 1
THE RALPH & IRMASPERRING CHARITY Report of the Trustees for the year ended 31 March 2024 FINANCIAL REVIEW Principal funding sources The charity generates most of its funds from rents reiVed from the 35 residential dwellings. It generates the remainder of its funds from the investment income, the capital of which was generated some years ago from the sale of land to a local developer. Investment policy and objectives Our policy of property inveslment was approved by the Charity Commission when the charity was founded.The Management Committee has continued to retain and improve its property portfolio bequeathed by the Donor. The greater part of income (not distributed to objects within our constitution) and the Assets of the Charity have been used to enhance and improve the housing stock of the Charity and to enable its retention in accordance with the wishes of the Donor. Following the sale of the land and propety, the Charity has accumulated investments of £xxxx to generate future income to be used in line with the general objectives of the Charity. Remaining funds are retained on deposit for further investments or the purchase of an agricultural property or rf required to fund substantial property renovation and repair work to ensure that the amounts available for awarded to local causes is not compromised and to ensure investment property income is not reduced. During the year £125,000 (2023: £100,000) was transferred from investrnents to support the cost of renovation and repair and Maintenan costs of the properties ovmed by the chartty. Reserves policy Unrestricled Funds are needed: (a) to provide funds which can be designated to speafic projects to enable these projects to be undertaken at short notice. and (b) to cover administration and support costs without which the Charity could not function. The Trustees consider it prudent that Unrestricted Reserves should be sufficient.. (a) to avoid the necessity of realising the Fixed Assets held at the Chartws use- (be) to cover one years administration and support costs", (c) to provide a pool equal to 100/0 of the average charitable expenditure over the preceding tsvo years from which funds can be designated to specific projects. The level of reserves is monitored and reviewed by the Trustees annually but at present are considered adequate for the requirements of the charity and to satisfy the above criteria. FUTURE PLANS The Charity plans continuing the activities as outlined above in the forthcoming years subject to satisfactory funding arrangements. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its goveming document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Recruitment and appointment of new trustees The directors of the company are also charity trustees for the purpose of charity law and under the company's Articles are known as members of the Management Committee. Trustees are drawn from the local community and are usually identified by current trustees, being mindful of the balance of skills required for the board. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve at the Annual General Meeting. Page 2
THE RALPH & IRMASPERRING CHARITY Report of the Trustees for the year ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The Ralph & Irma Sperring Charity has a Management Committee who meet quarterly and are responsible for the strategic direction and policy of the charity. At present the Committee has 9 members from a variety of professional backgrounds relevant to the work of the charity. An employee of Thatcher + Hallam solicitors.acts as a Clerk to the Trustees and attends the meetings of the management committee but has no voting rights. The charity instructs Thatcher + Hallam Solicitors to deal with the day to day administration of the charity and to deal with any legal issues that arise on an ongoing basis. Induction and training of new trustees Most Trustees are already familiar with the practical work of the charity having been encouraged to attend previous meetings of the management committee as a 'guest' in order to be briefed and given a full understanding of the charitys activities and objectives. Wider network At present the Ralph & Imia Sperring Charty does not consider itself part of a wider network. Related parties Some members of the management committee are associated with Thatcher + Hallam Solicitors. During the year, the charity paid Thatcher + Hallam Solicitors £45.823 (2023: £49,471) for administration and legal services provided to the charity. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. There are not considered to be significant extemal risks to funding and the diversification of funding and activities is not planned. Intemal risks are minimised by the implementation of prOdureS for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the Charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03028105 (England and Wales) Registered Charity number 1048101 Registered office Thatcher & Hallam Island House Midsomer Norton Radstock Somerset BA3 2HJ Trustees J P N Haxell G H H Persson W A Weller C Bushill J A Killah D C Harvey C E J Allen (appointed 19.6.23) H A Mitchell (appointed 19.6.23) P R Needham (appointed 19.6.23) Page 3
THE RALPH & IRMASPERRING CHARITY Report of the Trustees for the year ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary G H H Persson Auditors Richardson Swift Audit Ltd Chartered Accountants Statutory Auditor 11 Laura Place Bath BA2 4BL STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of The Ralph & Irma Sperring Charity for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit infomiation of which the charitable companvs auditors are unaware; and the trustees have taken all steps that they ought to have tsken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 2910112025 Approved by order of the board of trustees on ............................................. and signed on its behalf by: G H H Persson - Trustee Page 4
Report of th• Ind•p•nd•nt Audltors to th• Trust•as of The Ralph & lrnia Sperrlng Charlty Opinion We have audited Ihe financial staternents of The Ralph & Irma SperTing Charity (the 'charitable cornpan) for the year ended 31 March 2024 which comprise the Slatemenl of Financial Activities. the Balance Sheet and notes to the financial statements, including a summary of Snificant accOUntir policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Slandards {United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable companys affairs as at 31 March 2024 and of its incoming rèsources and application of resources. induding rts incorne and expenditur6, for the >ear then ended., have been properly prepared in accordance ith United Kingdom Generally Accepted ACCntIng Practic8: and have been prepared in accordan with the requirernents of the Companies Act 20. Basis for opinion We conducted our audrt in accordance with Intemational Stsndards on Auditing {UK) (ISAS (UK)) and applicable law. Our resw)nsibilities ur¥Jer those standards are further described in the Auditors, responsibilities for Ihe audit of the financial statements section of our report. We are independent of the charitable company in accordance Nwth the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requiremenls. We believe thal the audil evidence we have obtained is sufflent and appropriate to proifjde a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have conduded that Ihe trustees. use of the going COnM basis of accounling in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not identsfied any material uncertainties relating to events or condits'ons that, individually or collectively. May casl significant doubt on the charitable cornpanls ability to continue as a going concem for a period of at least telve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concérn ar8 describ8d in the relevant S8Ctions of this r8[. Olher information The trustees are responsible for thé other information. The other information cornprises the inforrnation included in the Annual Rep1. other than Ihe financial statements and our ReKth of the IndeperKJent Auditors ther80n. Our opinion on the financial statements does not cover the other information arKI. except to the extent otherwise expliatly stated in report, we do not express any fomi of assuran condusion thereon. In connection our audit of the financial statements. our responsits'lity is to read the other infomiation and. in doing so, consider whether the other informalion is maierialty inconsistenl with the financial statements or our knowledge obtained in the audil or otherwise appears to be materially misslated. If we idenlify such material inconsislencies or apparent material misstalements. we are required to delermine whether this gives rise to a rnater1 misstatement in the financial statements themselves. If, based on the work we have performed. we condude thal there is a material rnisstaternent of this other information, we arè rUired to r8POrt thal fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to reFK)rt in respect of the following matters the Charities (Accounls and Reports) Regulations 2008 requires us lo report to rf, in our OniOn. the infomiation given in the Report of the Truslees is inconsistent in any material respect with the financial stslements; or the charitable company has not kept adequate accounting records.. or the financial statements are not in agreement with the accounting records and retums" or we have not received all the information and explanalftS we require for our audiL Page 5
Report of the Independent Auditors to the Trustees of The Ralph & lrnla Sperring Charity Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial ststements and for being satisfied thal they give a tnje and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable companls ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going conrn basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: Our approach was as follows: We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussion with key personnel and consideration of our experience of clients in similar sectors. We determined that the most significant laws and regulations which have a direct impact on the fonn and content of the financial statements of the entty are the Companies Act and UK GAAP, specifically the Charities SORP. We detennined that the most significant operational laws and regulations for the entity are those governing the charitable sector and property rentsl. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above, with no issues arising. We gained an understating of the entitys wlicy and procedures by discussion with key personnel and substantive audit work. We assessed the risk of material misstatement in respect of fraud through our planning processes, and no significant risks were identified. We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries into our audit approach. Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 6
Report of the Independent Auditors to the Trustees of The Ralph & lrnla Sperring Charity Use of our report This report is made solely to the charitable companys trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable companls trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companvs trustees as a body, for our audit work, for this report. or for the opinions we have fomied. Richardson Swift Audit Ltd Chartered Accountants Statutory Auditor Eligible to act as an auditor in temis of Section 1212 of the Companies Act 2006 11 Laura Place Bath BA2 4BL Date.. 3010112025 Page 7
THE RALPH & IRMASPERRING CHARITY Statement of Financial Activities for the year ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMENTS FROM Investment income 280.014 280,014 274,120 EXPENDITURE ON Charitable activities Grants to institutions Grants to individuals 56.517 1.927 56.517 1,927 56,779 5,180 Other 347.570 347.570 305.303 Total 406,014 406,014 367,262 Net gains on investments 643,003 643,003 5.331 NET INCOMEI(EXPENDITURE) Transfers between funds (126,000) 128,282 643,003 (128,282) 517,003 (87,811) 10 Net movement in funds 2,282 514,721 517,003 (87,811) RECONCILIATION OF FUNDS Total funds brought forward 56,640 7,005,111 7,061,751 7,149,562 TOTAL FUNDS CARRIED FORWARD 58,922 7,519,832 7,578,754 7,061,751 The notes form part of these financial statements Page 8
THE RALPH & IRMASPERRING CHARITY Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Notes FIXED ASSETS Investments Investments Investment property 353,876 7,162,381 353,876 7,162,381 457,184 6.540,000 7,516,257 7,516,257 6,997,184 CURRENT ASSETS Debtors Cash at bank 10.390 73.344 10,390 76,919 18,092 72,168 3,575 83.734 3,575 87.309 90,260 CREDITORS Amounts falling due within one year {24.812) (24,812) (25,693) NET CURRENT ASSETS 58,922 3,575 62,497 64,567 TOTAL ASSETS LESS CURRENT LIABILITIES 58,922 7.519,832 7,578,754 7.061,751 NET ASSETS 58,922 7,519,832 7,578,754 7,061.751 FUNDS Unreslricled funds Restricted funds 10 58,922 7.519,832 56,640 7,005,111 TOTAL FUNDS 7,578,754 7,061,751 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not deposited notice. pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply wth the requirements of the Companies Act 2CH)6 relating to financial statements. so far as applicable to the haritable company. (b) These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011. The notes form part of these financial statements Page 9 continued...
THE RALPH & IRMASPERRING CHARITY Balance Sheet- continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 2910112025 and were signed on its behalf by: G H H Persson - Trustee The notes form part of these financial statements Page 10
THE RALPH & IRMASPERRING CHARITY Notes to the Financial Statements for the year ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefrt entity under FRS 102, have been prepared in accordance vith 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are induded at market value. as modified by the revaluation of certain assets. Critical accounting judgements and key sources of estimation uncertainty The investment propety is valued by the Trustees and is considered a critical accounting judgement. 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 V11 be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent wth the use of resources. Investment property Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. Taxation The charity is exempt from corporation tax on tts charitable activtties. 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. INVESTMENT INCOME 2024 2023 Rents received Other income and interest 270,368 9,646 258,390 15,730 280,014 274,120 Page11 continued...
THE RALPH & IRMASPERRING CHARITY Notes to the Financial Ststements - continued for the year ended 31 March 2024 CHARITABLE ACTIVITIES COSTS Direct Costs Grants to institutions Grants to individuals 56,517 1,927 58,444 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Investment income 274,120 274.120 EXPENDITURE ON Charitable activities Grants to institutions Grants to individuals 56,779 5,180 56,779 5,180 Other 313,103 (7,800) 305,303 Total 375,062 (7,800) 367,262 Net gains on investments 5,331 5,331 NET INCOMEI(EXPENDITURE) Transfers between funds (100.942) 104,112 13,131 (104,112) (87,811) Net movement in funds 3,170 (90,981) (87,811) RECONCILIATION OF FUNDS Total funds brought fopward 53,470 7,096,092 7,149,562 TOTAL FUNDS CARRIED FORWARD 56,640 7,005,111 7,061,751 Page 12 continued...
THE RALPH & IRMASPERRING CHARITY Notes to the Financial Ststements - continued for the year ended 31 March 2024 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 April 2023 Additions Disposals Revaluations 457,184 75,117 (199,047) 20,622 At 31 March 2024 353,876 NET BOOK VALUE At 31 March 2024 353,876 At 31 March 2023 457,184 The investments portfolio is managed by Quilter Cheviot and the investments are shown at market value. INVESTMENT PROPERTY FAIR VALUE At 1 April 2023 Revaluation 6,540,000 622.381 At 31 March 2024 7,162.381 NET BOOK VALUE At 31 March 2024 7,162,381 At 31 March 2023 6,540,000 The properties have been valued at the year end by the trustees. based on a previous professional valuation by Sam Chivers Estate Agents as at August 2019 and adjusted for properties upgraded since that date. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 10,390 18,092 Page 13 continued...
THE RALPH & IRMASPERRING CHARITY Notes to the Financial Ststements - continued for the year ended 31 March 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors Accruals and deferred income 5,770 19,042 25.693 24,812 25,693 10. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 56,640 (126,000) 128,282 58,922 Restricted funds Land & buildings Fair Value Reserve Investments Deposit accounts 3,034,186 3,505,814 457,184 7,927 622.381 3,656,567 3,505,814 353,876 3,575 20.622 (123,930) (4,352) 7,005,111 643,003 (128,282) 7,519.832 TOTAL FUNDS 7,061,751 517,003 7,578,754 Net movement in funds, included in ihe above are as follows: Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund 280.014 (406.014) (126,000) Restricted funds Land & buildings Investments 622,381 20,622 622,381 20,622 643,003 643,003 TOTAL FUNDS 280.014 (406,014) 643,003 517,003 Page 14 continued...
THE RALPH & IRMASPERRING CHARITY Notes to the Financial Ststements - continued for the year ended 31 March 2024 10. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 53,470 (100,942) 104,112 56,640 Restricted funds Land & buildings Fair Value Reserve Investments Deposit accounts 3.034,186 3.498,014 555,317 8,575 3,034,186 3,505,814 457,184 7,927 7.800 5.331 (103,464) (648) 7.096,092 13.131 (104,112) 7.005.111 TOTAL FUNDS 7.149,562 (87,811) 7.061.751 Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 274,120 (375,062) (100,942) Restricted funds Fair Value Reserve Investments 7,800 7,800 5,331 5,331 7.800 5,331 13,131 TOTAL FUNDS 274,120 (367.262) 5,331 (87,811) 11. RELATED PARTY DISCLOSURES Some members of the management committee are associated with Thatcher & Hallam Solicitors. During the year the charity paid Thatcher & Hallam Solicitors £55,423 (2023.. £49,471) for administration and legal services provided to the charity. 12. PURPOSE OF RESTRICTED FUNDS Restricted funds represents properties transferred from the Ralph Sperring Estate which is retained in the Charity at the wsh of Ralph Sperring as expressed in his will. The properties generate income from rents which is then expended in line with the objectives of the Charity. In addition to the properties. there is £353,876 invested or held on deposit which was generated from various disposals of land and property. The funds are invested where the retums on the investment can be expended in line wth the objects of the Charity. Page 15
THE RALPH & IRMASPERRING CHARITY Detailed Statement of Financial Activities for the year ended 31 March 2024 2024 2023 INCOME AND ENDOWMENTS Investment income Rents received Other income and interest 270,368 9,646 258,390 15,730 280.014 274,120 Total incoming resources 280,014 274,120 EXPENDITURE Charitable activities Awards to local causes 58,444 61,959 Other Property repairs & renewals Insurance Legal & professional costs Other expenses Auditors, remuneration Bad debt provision 258,088 12,064 48,912 3,606 16,200 8,700 226,211 9.529 59,894 9,669 347.570 305,303 Total reSoUrS expended 406,014 367,262 Net expenditure before gains and losses (126,000) (93,142) Realised recognised gains and losses Realised gainsl(losses) on fixed asset investments Realised gainsl(losses) on investment property 622.381 20,622 5.331 Net incomel(expenditure) 517,003 (87,811) This page does not fomi part of the statutory financial statements Page 16