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