G.W. Staniforth Charity
For the year ended 31 March 2024
Charity Number 1048890

G.W. Staniforth Charity
Financial statements
Year ended 31 March 2024
CONTENTS
Page No.
Trustees, Annual Report
3-10
Independent Examinerfs Report
li
Statement of Financial Activities
12
Balance Sheet
13
Notes to the Financial Statements
14-24

G.W. Staniforth Charity
Financial statements
Year ended 31 March 2024
The board of management present their report and the unaudited financial statements of the Charity for the
year ended 31 March 2024.
The finar)cial statements have been prepared in accordance with the accounting policies set out in notes to the
accounts and comply with the Charity's governing document, the Charities Act 2011 and 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 published in
October 2019.
Reference and adminlstratlon detalls
G.W. Staniforth Charity is also known by the working name of G W Staniforth Trust and is a registered Charity,
number 1048890.
Address of Charity
King's House
King Street
Thetford
Norfolk IP24
2AP
Trustee
The sole corporate trustee is Thetford Town Council. Day-to-day responsibility for the charity is delegated by the
corporate trustee to a board of management.
Board of Management
The board of management appointed by the corporate trustee consists of six nominated councillors of
Thetford Town Council together with three co- opted board members, who at the date of signing this report
are as follows:
Nominated Councillors of Thetford Town Council..
A Blackbourn
D Blackbourn
C Harvey
T Land
M Stirrup
S Wright

G.W. Staniforth Charity
Financial statements
Year ended 31 March 2024
Co-opted members:
P Pearson
J Willott
M Robinson
Appointments and resignations since 31 March 2023:
R Brame (resigned 4 May 20231
B Canham (resigned 4 May 2023)
D Crawford (resigned 4 May 20231
S Dowling (resigned 4 May 20231
J Hollis {resigned 4 May 2023)
J James Iresigned 4 May 20231
K Parker {resigned 4 May 2023)
B Skull Iresigned 3 August 20231
M Taylor (resigned 4 May 2023}
B Tullett {resigned 4 May 20231
D Hodgkinson (resigned 4 May 2023)
K Brooks {appointed 5 May 2023, resigned 5 December 20231
D Jefferson lappointed 5 May 2023, resigned 5 December 2023)
D Evans (appointed 5 May 2023, resigned 5 December 20231
C Barretto (re-appointed 5 May 2023, resigned 5 December 2023)
R Wood {appointed 5 May 2023, resigned 5 December 2023)
A Mitchell (appointed 5 May 2023, resigned 5 December 20231
M MacDonald (re-appointed 5 May 2023, resigned 5 December 20231
S Terry (appointed 5 May 2023, resigned 5 December 20231
M Brindle (re-appointed 5 May 2023, resigned 5 December 2023}
V Peters (appointed 5 May 2023, resigned 5 December 20231
H Mccambridge (appointed 5 May 2023, resigned 5 December 20231
S Armes {resigned l December 2023}
N Chapman (resigned 5 December 20231
5 Wright {re-appointed 5 May 2023)
T Jermy Ire-appointed 5 May 2023, resigned 30 July 20241
A Blackbourn (appointed 5 May 20231
D Blackbourn (appointed 5 May 20231
T Land {appointed 5 May 2023}
M Stirrup (appointed 5 May 20231
C Harvey (re-appointed 5 May 2023, resigned 5 December, re-appointed 30 July 2024)
P Pearson (re-appointed 5 December 20231
M Robinson (appointed 5 December 20231
J Willott (appointed 5 December 20231
The Clerk to the board of management is H MacDonald.

G.W. Staniforth Charity
Financial statements
Year ended 31 March 2024
Reference and adminlstration details
Banker
Unity Trust Bank
Four Brindleyplace
Birmingham
812JB
Investment Advisers
Barratt and Cooke
5 Opie Street
Norwich
NRI 3DW
Inde
endent Examiner
L Thurston FCCA
Lovewell Blake LLP
Chartered Accountants
First Floor Suite
2 Hillside Business Park
Bury St Edmunds
IP32 7EA

G.W. Staniforth Charity
Finantial statements
Year ended 31 March 2024
Objective5 and activities
The Charity is established to preside over the collection of books and miscellaneous objects bequeathed
by GW Staniforth and the King's House, including the attached cottage and small office complex and King's
House Gardens {Thetfordl for the benefit of the town's people of Thetford.
The house, gardens and the collection were bequeathed to the Mayor, Alderman and Burgesses of the
Borough of Thetford in 1946. Subsequently, additional land and wa115 to the rear of the then gardens were
bequeathed to or purchased by the Charity, enabling the gardens to be extended and various facilities
provided, as outlined in previous reports.
With the introduction of local government changes in 1974, the Charity became the responsibility of
Thetford Town Council. In December 2023, Thetford Town Council, the sole corporate trustee, delegated
oversight of the day-to-day running of the Charity to a management board of six town councillors and
three co-opted independent members.
The gardens are open to the public every day of the year (except Christmas Day, Boxing Day and New
Year's Day). There is public access to the Multi Use Games Area IMUGA) and part of the bowls green at agreed
times. King's House is open for public access during normal office opening hours.
In December 2014 the Charity applied to the Charity Commission for a new fully regulating Scheme. In 2016,
the new scheme was established. Administrative amendments to the scheme were agreed by the Trustee on
30 July 2023 and subsequently accepted by the Commission and updated on the register of charities.
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charitv
Commission's guidance on Public Benefit including, The Public Benefit Requirement (PBI}, Running a Charity
(PB21 and Reporting IPB31.
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011.
Achievements and performance
The G W Staniforth Bowls Club and the Thetford Netb311 Club continued to make good use of the facilities for the
people of Thetford during the year and Licence agreement5 Wlth both clubs were extended. Bush Adventures UK.
a Community Interest Company working with young people with Social, Emotional and Mental Health needs, are
tenants in the Wild Place. Over the past year Bush Adventures have developed an orchard area and plan to create
space to build a seating area and raised beds for school and community groups to use.

G.W. Staniforth Charity
Financial statements
Year ended 31 March 2024
Thetford Town Council continued to lease the council chamber and cellar area of King's House. The remaining
first floor office5 are now home to a solicitor firm. Two of the ground floor offices are occupied by local
businesses, and a third is currently being offered to potential tenants. A fourth ground floor office, recently
renovated, is being marketed.
The small office complex adjoining the cottage (King's House Annex) is leased to a private company. King's
House Cottage has been refurbished and has tenants for domestic income.
Rents generated provide funds to finance future maintenance and pay for the upkeep of the Charity's assets.
Maintenance works over the year have included alterations to facilitate the upgrading of fire safety throughout the
building.
The King's House Gardens continued to be open to the public every day of the year (except Christmas Day,
Boxing Day and New Year's Day). Thetford Town Council on behalf of the Charity employ5 the services of Nurture
Landscapes to provide maintenance of the Gardens.
A number of local organisations have made use of the Gardens over the year, and events included Thetford Open
Gardens, Urban Orienteering, Forest Bathing and Thet Zero Summer SculptureTrail. The Board of Management have
continued to support the development of wild spaces to increase the biodiversity of the Gardens. During the
summer the Gardens received a Certificate of Recognition from the Anglia in Bloom Team with thejudges admiring
the mixed planting and areas set aside for wildflowers.
The Charity is a participant in a Heritage Masterplan forThetford. A multi-disciplinary team was assembled and
is currently working to prepare a formal bid to the National Lottery. It is hoped that in addition to the promotion
of the Charity, there will be the opportunity to further invest in King's House and its gardens.
Financial review
The results for the year are set out within these statements of financial activities. The deficit on the
unrestricted funds amounted to £67,708 12023: £79,439) and is mainly due to the lower rental and
investment income received during the year.
The Trustees consider the year-end position to be satisfactory and in line with expectations.

G.W. Staniforth Charity
Financial statements
Year ended 31 March 2024
Reserves
The property and endowment funds at 31 March 2024 amounted to £1,161,000 and £893,179
respectively {2023: £1,161,000 and £902,836). The property fund consists of the property owned by the
Charity and is held at market value. The endowment fund was established for the maintenance, care
and upkeep of the King's House and Gardens
The unrestricted funds at 31 March 2024 amounted to £11.494 (2023: £69,545).
Although the charity has no set reserves policy, the Trustees consider that the unrestricted funds, taking
into account the balance in the endowment fund which is to meet any unforeseen costs for maintenance,
care or upkeep, are sufficient to meet the day-to-day needs of the Charity.
Investment policy
The Charity derives a significant amount of its income from the investment portfolio which has a market
value at 31 March 2024 of £756,789 (2023: £902,836}. The portfolio is managed on a discretionary basis
by both Barratt and Cooke Limited and M&G Securities Ltd. The Charity has an Investment Policy that sets
out the Charity's approach to investment.
Plans for the luture
The Charity is developing potential project plans for Kin￿5 House to be included in a town-wide Heritage
Masterplan. Among these, are plans for the internal restoration of the conservatory and waterfall garden. A
fundraising plan is being drawn up in order to seek grant funding for the maintenance and further
development of the King's House. This work will include initial scoping for the storage and display of the
GW Staniforth collection of books and miscellaneous objects.
Finding tenants for the remaining office space and developing sustainable income generation solutions
for the future are immediate challenges.
Structure, governance and management
The Charity was established by the will of George Wild Staniforth dated 12 June 1946 and subsequently
proved at the principal probate registry on 25 June 1949 following his death in 1947. The Charity was
registered with the Charity Commission on 26 August 1995 under its current registration number
1048890.

G.W. Staniforth Charity
Financial Statements
Year ended 31 March 2024
The Charity is a trust, and the sole corporate trustee is Thetford Town Council. A board of management
consisting of six councillors of Thetford Town Council together with three co-opted members, has
oversight of the day-to day running of the Charity. The co-opted members are elected by the Thetford
Town Council. Not all decisions can be made by the management board and those matters reserved for
the Trustee are documented in the Charity's standing orders.
On appointment all board members are provided with a welcome pack that includes the Charity's
governing document and standing orders, together with the Charity Commission's Guidelines forTrustees
and a copy of the latest accounts. The Charity maintains a register of interests for all Board members.
In October 2023, the Charity appointed a dedicated Clerk to support the board of management. A lease
sub-group was formed in March 2024 to oversee the development of lease and license agreements prior
to these documents being presented to the board.
A governance review undertaken by the Charity has produced a new governing document and standing
orders setting out various administrative procedures and new policies and procedures.
The board of management declare that they have approved the Trustee's report above in accordance with
the Charity's governing document.
Risk management
Management has reviewed the major risks to which the Charity is exposed. Where appropriate
systems or procedures have been established to mitigate the risks the Charity faces. As is the case for
many charities, external funding represents a risk to the stability of the Charity.
True and fair override
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 the Accounting and Reporting by Charities..
Statement of Recommended Practice applicable in the UK and Republic of Ireland issued in October
2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice
from l April 2005 which has since been withdrawn.

G.W. Staniforth Charlty
Trustee annual report (continued)
Yearended 31 March 2024
Independent examlner reappointment
A resolution to appoint L Thurston FCCA of Lovewell Blake LLP as independent examiner will be
proposed in accordance with the annual agenda at the third scheduled quarterly Ineeting of the
management board.
SiBned on behalf of the Charity's board of management:
S WriEht, Chair
M Robinson, Board Mem
io

G.W. Staniforth Charity
Independent examinerfs report to the Trustees of G.W. Staniforth Charity (continued)
Year ended 31 March 2024
I report to the Charity trustee on my examination of the financial statements of the Charity for the year ended
31 March 2024 which comprise the statement of financial activities, balance sheet and the related notes.
Responsibilities and basis of report
As the Charity's corporate trustee, you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in
carrying out my examination I have followed all the applicable Directions given by the Charity Commission under
section 145151{b) of the Act.
Independent examinerfs statement
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:
accounting records were not kept in respect of the Charity as required by section 130 of the Act;
or
2. the financial statements do not accord with those records; or
3. the financial statements 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.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in
accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to
charities preparing their accou nts in accorda nce with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102) in preference to the Accounting and Reporting by Charities: Statement of
Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has since
been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance
with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after I
January 2015.
loL¥
L Thurston FCCA
Independent Examiner
Lovewell Blake LLP
Chartered accountants
First Floor Suite
2 Hillside Business Park
Bury St Edmunds
IP32 7EA
li

G.W. Staniforth Charity
Statement of financial activities
Year ended 31 March 2024
Unrestrirted
Funds
Property
Funds
Endowment
Funds
Total
2024
Totsl
2023
Notes
Income and endowments
from:
Donations and legacies
Charitable activities
300
34,389
37,545
71,934
34.389
37,545
71,934
47,454
42,718
90,472
Investment income
Total income
Expenditure on:
Charitable activities
131,128
131,128
131,128
131,128
103,145
103,145
Total expendlture
Losses on investments
Net expenditure
18,5141
{8,5141
{8,5141
167,7081
{66,7661
179,4391
(59,194)
Transfers
Revaluation of fixed assets
Net movement in funds
1,143
(1,1431
{58,051)
19,6571
{67.7081
179,4391
Reconciliation of funds
Total funds brought forward
69,545
1,161,000
902,836
2,133,381
2,212,820
Total funds carried forward
11,494
1,161,000
893,179
2,065,673
2,133,381
The notes on pages 14 to 24 form an integral part of these accounts
12

G.W. Staniforth Charlty
Balance sheet
31 March 2024
2024
2023
Notes
Flxed assets
Tangible f Ixed assets
1,161,499
1,161,613
Investments
io
893,179
2,054,678
902,836
2,064,449
Current assets
Debtor5
li
12,682
21,291
Bank
38,713
51,395
243,349
264,640
Current liabillties
Creditors: amounts fallinE due
within one year
12
140,4001
1195,708)
Net current assets
10,995
68,932
Net assets
2,065,673
2,133,381
Funds of the Charlty
Endowment fund
13
893,179
1,161,000
11,494
902,836
1,161,000
69,545
Property fund
Unrestricted funds
13
14
Total Charity funds
2,065,673
2,133,381
These financial statements were approved by the board of Trustees and authorised for issue on
28 Janua
2025 and are signed on behalf of the board by..
S Wright
Chair
M Robinson
Board Member
The notes on pages 14 to 24 form an Integral part of these accounts
13

G.W. Staniforth Charity
Notes to the financial statements (contlnued)
Year ended 31 March 2024
l. General information
The Charity is a registered Charity in England and Wales and is unincorporated. The address of the
Charity is King's House, King Street, Thetford, Norfolk, IP24 2AP.
2. Statement of compliance
The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have
been prepared in accordance with 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 issued in October 2019, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 1021, the
Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 departLJre has involved following the 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 U K and Republic of Ireland issued in October
2019 rather than the Accounting and Reporting by Charities- Statement of Recommended Practice
effective from l April 2005 which has since been withdrawn.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities measured at fair value through income or
expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity, and
rounded to the nearest pound.
Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that
no material uncertainties exist. The Trustees have considered the level of funds held and the expected
level of income and expenditure for 12 months from 3uthori5ing these financial statements. The
budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to
continue as a going concern.
Fund accounting
General funds are unrestricted funds which are available for use at thè discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
14

G.W. Staniforth Charity
Notes to the financial statements (contlnuedl
Year ended 31 March 2024
Designated funds where applicable are unrestricted funds earmarked by the Trustees to further any
of the charity's purposes.
Restricted funds where applicable are subjected to restrictions on their expenditure declared by the
donor or through the terms of an appeal and fall into one of two sub-classes- restricted income funds
or endowment funds.
Endowment funds represent those assets which were bequeathed to the Charity. Any capital gains
or losses arising on the assets form part of the fund. Income arising on the endowment funds can be
Used in accordance with the objects of the Charity and is included as unrestricted income.
Income
All income is included in the Statement of Financial Activities ISOFAI when the Charity is legally
entitled to the income after any performance conditions have been met, the amount can be
measured reliably and it is probable that the income will be received. The following specific policies
are applied to particular categories of income:
Donations and legacies are included in full in the SOFA when receivable. Grants, where entitlement is
not conditional on the delivery of a specific performance by the Charity, are recognised when the
Charity becomes unconditionally entitled to the grant.
Income from contracts for the supply of services is recognised with the delivery of the contracted
service. This is classified as unrestricted funds unless there is a contractual requirement for it to be
spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Investment income is included when receivable. Investment income from the endowment fund is
unrestricted.
Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred.
Charitable expenditure comprises those costs incu rred by the Cha rity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the Charity and include costs of the preparation and examination of statutory
accounts and cost of any legal advice to Trustees on governance or constitutional matters.
Tangible assets
Tangible assets a re in itially recorded at cost and subsequently stated at cost less any accumu lated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
15

G.W. Staniforth Charity
Notes to the financial statements (continued)
Year ended 31 March 2024
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation. is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the Ioss is shown within other
recognised gains and losses on the statement of fina ncial activities.
Freehold property is held at fair value and land is not deprecated.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Equipment
10% _ 250A reducing balance
Financial instruments
A financial asset or a financial liability 15 recognised only when the entity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable includ ing any
related transaction costs, unless the arrangement constitutes a financing transaction, where it is
recognised at the present value of the future payments discounted at a market rate of interest for a
similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Investments
Fixed a55et investments are initially recorded at cost, and subsequently stated at cost less any
accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in the
Statement of Fi nancial Activities.
16

G.W. Staniforth Charity
Notes to the financial statements (continued)
Year ended 31 March 2024
4. Donations and legacies
Un-
Restricted
Funds
Restricted
Funds
Restricted
Funds
Total
2024
Restricted
Funds
Totsl
2023
Norfolk
Community
Foundation
Donations
300
300
300
300
5. Income from charitable activitles
Un-
Restricted
Funds
Un-
Restricted
Funds
Restricted
Funds
Total
2024
Restricted
Funds
Total
2023
Insurance claim
Rents receivable
34,389
34,389
34,389
34,389
47,454
47,454
47,454
47,454
6. Investment income
Restricted
Funds
Restricted
Funds
Total
2024
Restricted
Funds
Restricted
Funds
Total
2023
Listed
investments
37,545
37,545
42,233
485
42,233
485
Bank interest
37.545
37,545
42,718
42,718
17

G.W. Staniforth Charity
Notes to the financial statements Icontinued)
Year ended 31 March 2024
7. Expenditure on charltable
activities
Un-
Restricted
Funds
Un-
Restrirted
Funds
Restricted
Funds
Total
2024
Restricted
Funds
Total
2023
Maintenance and
service costs
101,073
5,375
683
101,073
5,375
683
78,732
2,694
1,518
146
78,732
2,694
1,518
146
Insurance
Miscellaneous
Depreciation
114
114
Governance costs:
Legal and
professional fees
Independent
examiner's fee
21,285
21,285
17.781
17,781
2,598
131,128
2,598
131,128
2,274
103,145
2,274
103,145
8. Trustee remuneration and expenses
No salaries or wages have been paid to employees, including the Trustees, during the year12023.. £Nill.
The Trustees received no remuneration or reimbursed expenditure during the year {2023- £Nill.
18

G.W. Staniforth Charity
Notes to the ftnancial statements {continued)
Year ended 31 March 2024
Land and
Freehold
Property
9. Tangible fixed assets
Equipment
Total
Cost or Valuation
At l April 2023
Additions
1,161,000
3,304
1,164,304
Revaluation for the year
At 31 March 2024
1,161,000
3,304
1,164,304
Depreciation
At l April 2023
Charge for the year
At 31 March 2024
2,691
114
2,691
114
2,805
2,805
Net book value
At 31 March 2024
1,161,000
499
1,161,499
Net book value
At 31 March 2023
1,161,000
613
1,161,613
The land and Freehold property was bequeathed to the Charity and was initially valued on 9 May 2013
by the District Valuer. The valuation of the Freehold property was updated in November 2022 and is
reviewed annually and updated by the Trustees at each reporting date.
19

G.W. Staniforth Charity
Notes to the financial statements (continued)
Year ended 31 March 2024
10. Investments
Listed
Investments
at fatr value
Staniforth
Collection
Total
At l April 2023
Additions at Cost
136,390
766,446
68,018
{69,161}
{8,514}
756,789
902,836
68.018
{69,1611
{8,5141
893,179
Disposals at carrying value
Net gain/(Ioss1 on revaluation
At 31 March 2024
136,390
Deposit account
Total
136,390
756,789
893,179
The board members have confirmed that there has been no material change in the value of the Staniforth
Collection during the year. The fair value of listed investments is determined by reference to the quoted price
for identical assets in an active market at the balance sheet date.
2024
2023
11. Debtors
Trade debtors
10.000
2,682
12,682
10,000
11,291
21,291
Prepayments and accrued income
12. Creditors: Amounts falling due within one year
Trade creditors
9,017
20,809
5,375
5,199
40,400
7,200
182,085
4.375
2,048
195,708
Thetford Town Council
Other creditors
Accruals
20

G.W. Staniforth Charity
Notes to the financial statements (continued)
Year ended 31 March 2024
13. Endowment Funds
Expendlture &
gains/{Ios5es)
on Investments
Balance at I
April 2023
Balance at 31
March 2024
Income
Transfers
Endowment fund
902,836
1,161,000
2,063,836
(8,514}
{1,143)
893,179
1,161.000
2,054,179
Property fund
18,514}
(1,143}
Expenditure &
gains/{losses)
on investments
Balance at I
April 2022
Balance at 31
March 2023
Income
Transfers
Endowment fund
970,574
1,161,000
2,131,574
{66,766}
{9721
902,836
1,161,000
2,063,836
Property fund
(66,766)
{972)
The property fund consists of the King's House, King's House Gardens and other properties bequeathed to
the Charity. The properties are revalued periodically, and the amount of the revaluation is adjusted to the
fund.
The endowment fund consists of the remainder of the legacy from G.W. Staniforth which has been invested
in M & G Securities Limited Charifund Unit Trust and a mixture of government stocks, Sterling bonds and
blue-chip securities. The investments are revalued to fair value annually and the amount of the revaluation
s adjusted to the fund. The Staniforth Collection of books has been added to the endowment fund and its
value is reviewed annually. The endowment can be realised to meet maintenance , care and upkeep of the
King's House and Gardens.
21

G.W. Staniforth Charity
Notes to the financial statements (continued)
Year ended 31 March 2024
14. Unrestrlcted funds
Balance at
l April
2023
Balance at
31 March
2024
Income
Expenditure
Transfer
Designated maintenance
funds
Designated Friends of
Staniforth
3,840
65,705
3,840
7,654
General fund
71,934
71,934
131,128
1,143
69,545
131,128
1,143
11,494
Balance at
l April
2022
Balance at
31 March
2023
Income
Expenditure
Transfer
Designated maintenance
funds
Designated Friends of
Staniforth
4,517
76,729
677
3,840
65,705
General fund
90,472
102,468
972
81.246
90,472
103,145
972
69,545
Designated maintenance funds- represents the value of maintenance work, authorised by the trustees but not yet
carried out. It is reviewed annually with amounts transferred to or from the general fund as necessary. The
Trustee5 have determined that the balance carried forward in the prior year end should be reduced to £Nil, a
position maintained in the year ended 31 March 2024.
Designated Friends of Staniforth - represents the value of amounts earmarked for future projects and includes a
transfer from the designate maintenance fund in the prior year. The Fund is reviewed annually with amounts
transferred to or from the general fund as necessary.
22

G.W. Staniforth Charity
Notes to the financial statements {continued)
Year ended 31 March 2024
15. Analysis of net assets between funds
Tangible
fixed a55ets
Net current
assets
Investments
Total 2024
Endowment fund
Property fund
893,179
893,179
1,161,000
2,054,179
11,494
2,065,673
1,161,000
1,161,000
499
893,179
Unrestricted funds
10,995
10,995
1,161,499
893,179
Tangible
fixed assets
Net current
assets
Investments
Total 2023
Endowment fund
902,836
902,836
1,161,000
2,131,574
69,545
2,133,381
Property fund
1,161,000
1,161,000
613
902,836
Unrestricted funds
68,932
68,932
1,161,613
902,836
16. Financial instruments
2024
2023
Financial assets
Measured at fair value through net incomel{expenditure}:
Listed investments
756.789
766,446
23

G.W. Stanlforth Charity
Note5 to the financial statements {continued)
Year ended 31 March 2024
17. Transactions with related parties
The board of management of the Charity appointed by Thetford Town Council, the sole corporate trustee, consists
of 6 town councillors and three independent co-optees.
The Charity's finances are administered by the Town Council. The Charity now only maintains one bank accounts
and investment income is paid directly into these accounts.
The G.W. 5taniforth Charity, were unable to make payments during the year due to Trustee changes and bank
administration. Therefore, Thetford Town Council made payments on behalf of the Charity, which is repaid on
request. As at 31 March 2024 the amount owed to Thetford Town Council was £20,809 {2023: £102,086).
There were no other transactions with related parties took during this or the prior year.
24