2023-12-31-accounts

KIPPS MEMORIAL TRUST

CHAIRMAN’S AND TRUSTEES REPORT FOR THE YEAR 2023

1. The Kipps Memorial Trust continued to pay for Caxton PCC’s contribution to the Papworth Team Ministry for their allocated cost of clergy expenses.

2. No grants have been made during the year for specific projects

3. Some funds have again been accumulated to maintain the real value of the original bequest.

4. The Accounts have been audited by Mr Andrew Herbert.

NHAP 14.10.24

Kipps Memorial Trust

Summary of financial records for the 12 months to 31/12/2023

1 Bank Accounts Barclays Community Account (1094336) At 1/1/23 From BPA2 From Coif Charites Investment Payments Papworth Team WYCM Donatons 2022 and 2023 Donaton - Parish Church (Rv'd Stephen Day) Investment Interest paid At 31/12/23 Business Premium Account (93846067) BPA1 At 1/1/23 Receipts Interest received At 31/12/23 Business Premium Account (20582603) BPA2 At 1/1/23 Receipts M&G Charifund Interest received Payments To Community Account At 31/12/23 2. Investments M&G Charifund Units At 1/1/23 At 31/12/23 Change Unit value At 1/1/23 (p) At 31/12/23 (p) - price on 29/12 quoted on M&G website Change (p) Total Investment Value At 1/1/23 (£) At 31/12/23 (£) Change (£) COIF Charity Funds (139010001T) Units At 1/1/23 Purchases 9/11/23 At 31/12/23 Change Unit value At 1/1/23 (p) At 31/12/23 (p) - mid price on 29/12 quoted on CCLA website Change (p) Value At 1/1/23 (£) At 31/12/23 (£) Change (£)	3. Income Statement £ 2291.70 Income M&G Charifund 41900.28 COIF Charity Funds 1365.06 Interest received -2958.96 -4200.00 -500.00 -40000.00 -1.14 -2103.06 Expenditure Papworth Team Interest paid 5406.98 51.48 5458.46 Net Surplus 88661.18 Change in value of investments 35489.68 909.42 Net transfer to reserves -41900.28 83160.00 4. Cash Flow 41508.403 Opening cash balances 41508.403 Closing Cash Balances 0 Net Movement 1469.52 Receipts 1434.99 Payments -34.53 Net Movement 609974.28 595641.43 -14332.85 2505.61 2134.56 4640.17 2134.56 1817.49 1984.50 167.01 45539.21 92084.17 46544.96	5. Balance Sheet £ 35489.68 1365.06 960.9 Investments 37815.64 Cash Net Assets -2958.96 -1.14 Liabilites -2960.10 Total Net Assets 34855.54 32212.11 67067.65 96359.86 86515.4 -9844.46 37815.64 -47660.10 -9844.46	At 31/12/23 At 31/12/22 Change £ £ £ 687725.61 655513.49 32212.11 86515.40 96359.86 -9844.46
			774241.01 751873.35 22367.65
			0 0 0
			774241.01 751873.35 22367.65

Kipps Memorial Trust – Accounts for the 12 months ending 31/12/23

I have examined the income and expenditure statement and balance sheet of the Kipps Memorial Trust for the 12 months ending 31/12/23 and have reconciled movements in balances to bank and investment statements.

I can confirm that, in my opinion the accounts represent a true record of transactions during the period.

Andrew Herbert FCMA 30 September 2024

27 Madingley Road Cambridge CB3 0EG