CHARITY NUMBER 1055846
CORFE CASTLE CHARITY
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FL￿CHER & PARTNERS
CHARTERED ACCOUNTANTS
SALISBURY

CORFE CASTLE CHARITY
copirENTS
Page
Reference and adminlstratlvo dotalls of the Charity, its Tru6t808 and advisers
Trustees, report
Indopendent auditor's report
Statement of flnanclal actlvfties
Balanca sheet
Notes to the financial statements
9-18
The following pages do not form part of the statutory accounts..
Detslled income and exp8ndllure account
19

CORFE CASTLE CHAR]TY
REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITh, rrs TRUSTEES AND ADVISERS
for the year ended 31 March 2024
Trustees
Mrs K Allson (co-opted)
Mr K Batchelor (co-opted)
Mrs K Bennett (nominated)
Mr M J A Bond (nominated)
Mr J Coverd818, Chaiman (COaOPted)
Mr N Dragon (nominated)
Rev l Jackson (ex-officio) retired August 2023
Mr J Phillips (nominated)
Mrs G M Sellon {co-OPted)
Custodian Trustee
The Official Custodian for Charfties
Charlty registered number 1055846
Principal office
2 Battlemead, Corfe Castle. Wareham, BH20 SER
Clerk to the Trustees
Mrs A Meaker
Property Managors
Mr B Rowlatt
East Boro Housing Trust, Faulkner House, 31 West Street. Wimborne, DorseL BH211JS
Dorset Property, 4-5 Easl Street. Wimborne. Dorset. BH21 1 DS
Auditor
Fletcher & Partners, Crown Charnbers, Bridge Street. Salisbury. SP12LZ
Bankers
Lloyds Bank plc, Wareham, 3 South Street. Wareham. Dorsel. BH20 4LX
Investment Manager5
CCLA, One Angel Lane, London EC4R 3AB
Solicitors
Laceys Soliators LLP. 5 Poole Road, Boumernouth, Dorset, BH2 SQL
Chartered Surveyors
Carter Jonas, Ailesbury Court, 3rd Floor, High Street, Marlborough, SN8 1AA
Sibbett Grogory, 3 Winchester Place, North Street, Poole BH15 1NX
Page 1

CORFE CASTLE CHARI
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees Submit their annual report and the financial statements of Corfe Casile Charlty (the Charftyl for the year
ended 31 March 2024. The financial statement5 have been prepared in accordance wth the accounllng policies set out
on pages 9 to 11 and comply wlth the Charity Commission Order, the Charities Act 2011 and the Accounting and
Reporting by Charities,, Statement of Recommended Practice applicable lo charities preparing their awounts in
aGcordanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP
FRS102) and the Financlal RePOr￿ng Standard applicable In the UK and Republic of Ireland published in March 2018
IFRS102).
The Charity ¢omprises the following pemianent charitable trust8: The Charities of Robert Abbott, The Church Lands
Charity, The Charity of Henry Dackombe {otheMse the Church Merrifield Charity), The Green's Acre Charity, The
Charity of John Harden, The Charity of Sir Edmund Uvedale. The Woolgarslon Lands Chaaty, The Charity known as
The Almshouse8, The Charity ofAli¢e Augusta Gertrude Sotheran, The Charles Memorial Fund and The Hubbard Fund.
Constitutlon pollclgs, objectlves and acllvltlos
The Charity is constituted under a Charity Commission Scheme dated 15 February 1995 as amended by further
schemes dated 30 March 2006 and 23 April 2018, and is a registered chadty. number 1055846.
The principal objects of the Charity are to provide and maintsin almshouse and affordable accommodation for the poor
and needy people resident in the Parish of Corfe Cast￿, to provHJe relief to those in need, and to Use surplus funds to
support other charitable purposes in the Parish.
The Qharty provides 16 units of almshouse accomrnodation and 15 units of affordable houslng and makes grants lo
Individuals and Institutlons wlthin the Parfsh. The Charity also holds other propertles and land ￿1¢h it lets on
commercial basis lo provide additional funds to the Charity.
Organlsatlonal structure and decision making
The Charlty is administered by a board of nine Trustees who meet on a monthly basls. The Trustees oversee the
operalon cfthe Charity's almshouses and social housing. approve all grants, and manage the Charitls assets.
The Charity's Trustees monitor the Charity's financial position through regular compwison of expenditure to budget, and
the periodic review of Investments.
The day lo day operations of the Charity are carrled out by the Clerk to the Trustees oversee5 the many aspeGts of
the running of the Charity, and the Property Manager vtho oversees the maintenance and upkeep of the charitrfs
properties on behalf of the Tnjslees.
Method of appolntment or elootion of Trustse$
The Tru3tees comprise one ex-officio Trustee, four nominated Trustees and four COpOPted TrLJslees.
The ex-officio Trustee Is the IncumbenVPriest in Charge of the Parlsh of St Edward King and Martyr, Corfe Casle.
The nominated TNstees are appointed by Corfe Castle Parish Council for a term of four years.
The co-opted Trustees are selected and appointed by the body of Truslees for a lem of ftve years. New trustees are
trained by the Chairman and Clerk.
Key management personnel remuneration for the Clerk and Property Manager Is reviewed by the trustees annually and
nomially increases in Ilne with the Consumer Prices Index.
ststement of Trustees. Ro$ponslblllties
The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with
applicable law and United Klngdom Accounting Standards (UnFied Kingdom Generally AcGepted A￿OUnting Pracllce).
The law appliGable to charities in England and Wales requires the Trustees to prepare financial stalernents for each
flnancial year whlch give a true and fair view of the state of affairs of the Charity and of the incoming resources and
applicatlon of resources of the Charity for that period. In preparing these financial statements, the Trustees are required
lo,.
select suitable accounting poricies and then apply them consistently.,
observe the methods and principles in the applicable Charities SORP.
make judgments and estimates that are reasonable and prudent.,
State whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial slatements.
prepare the financial statements on a going concern basis unless It is inappropriate to assume that the
charity wll continue in opera￿on.
Page 2

CORFE C￿￿LE CHARrr
TRUSTEES. REpoi¥f (contlnuèdl
FOR THE YEAR ENDED 31 MARCH 2024
The Trust88s ar6 r8sponslble for keeplng proper 8CCOUTrtiTha reconls that dlsdose wllh raasonable acujracy at
any tlme the fin8r,dal poslllon of thp Charfty and enable them to ensure that the finandal statements comply
with the Charitles Act 2011. They are also responsibig for safeguarding the assets of Ihe Chartty and hence
for taking ￿asOnabl￿ $teps tr the prevenilon and dete￿on of frdud and other Irregularitigs.
Reserves pollcy
The Truste9s r8cognlse thelr responslblllty to ulllBe ￿￿Orne as it Is eamed and rK)t g&n8rnle unnecessary
reserves. but consider Et necessary lo retaln sufficlent funds lo ensure that they are able to undertake thelr
planned ctkrttable actmties and maintain the starKlard of the Chw1ty8 social hC￿SInll.
Thtr Trustees have a long term obleclive of acquiring proporty In the vlllage whlch C￿1￿ be let a$ houslng at
affOrda￿e rents. whlch requires them lo hold funds avapiable to purchase suÉtab18 properti05 when they
becA)me avallable. At tho ygar encl tkiP free ioserve8, •XCtudLng Ihose Inve¥led In propety. were a total of
£979,119.
Rlsk management
The Trustees have agsessed th8 mapr rlsks lo wthich the Charfty Is exposed, in parlicular those r91ated to th8
opgratlons and finan￿8 of the Ghariiy, and are satlsfied that SYst￿S are in place to M￿'gate their exposure,
The principal risk5 are in th8 perfom)ano of investments and OP8Tational rk8k¥ frc4n owning prO￿ty and
maklro effecuve grants a￿1 loans.
Investmont pollcy and perforniance
The Trustges are required to Invest all Sum$ not neede(I for itnlnethats workrng purposes by th8 Schem& The
Tru8t98s have apportioned the Invostsrents betwean quoted Invesbments and depostt accounis. to refleGt theiT
potential noed for fvnds at short notlce. The Trustegs have a medlum to low risk allitude and the relum to the
Charty Is managed by investing in COIF Charilles Inveslment Fund untts, providing a mixbjrè of capllal
app￿datIon and income growth. Tha market risk Is mitlgated by Investmont In professlonally managed
¢ommon investment fvnds operated by CCLA IrNestrnent Management.
Grant making poli¢les
To achleve tts objects for the pubfic benefft, the cha￿ Invites both organi5atlcns and needy irM4ivldLrals wfthh
thè p$ri8h lo #pply for grsnte or10gA¢. Thosg can bo f¢r hlgh9r edu¢atlonal cour¥￿, m¥8tinJ thè nogdg of tho
dlsabled. slck and dderly as well as to mltvjak hardshlp or distres5.
Public Bonefft
The Trusteas confim Ihat they havo ￿mplIed wth tho duty in section 1715) of fhe Chartties Act 201110 have
due regard to thg publ1¢ benofit guidance published by tho Chartty coMmk￿l0n. Tho Charity meets Its publlc
benefft remit by providing accommrKJ81ton and finan￿al assistance lo needy persons and instilutTrons Wthln the
Parish.
Revlpw ol actfvitlgs and tlnanclal revlew
The Charity had incomlng resources ft)r Ihe year of £349.022 (2023.. £331,420).
The Trustèes havb contlnued to resporKI to cases of hardship wlthin the ¢ommunify wrfh grdnts and Irrterest-
free108ns Qnd have recelved numerous gxpresgknns of thanks from individuaL* whom they hav8 holped during
the year. Thè Ch8tity rrJaQe grants of £32.799 (2023: £37.421) and spent £90.5gi {2023: £91,787) In provldlng
both sheltered and reasonably priced h￿skng. This oxGludes stsff costs, depreGlation and supwrt ¢osts. The
total of charltable expendiiure induding ihese costs 'Nas £227,192 (2023: £227.166).The Charkiy had rpt
income for the year of £86.24612023: net Income £84,976) beforo oth¢r racognised gains and lo￿$.
Investments Incre8$ed In valua by £98,156 frjr the year {2023.' deThso of £22.W}. Investment propertles,
value dld nol thange 12023: decrease of£10,ODD).
At Ihe year 8fbd. the Cbarty had total funds of £4,597,967 (2023: £4,413.565) of whi¢h £1,547.258 were
endowed
nds. £969,745 were dgslgnated fund$ and £2.080.966 Wdre general lunds.
was approved by the Trustees on ILro 2024 and signed on thetr behalf, ty.
Mr
Cha
.Cov
Page 3

CORFE CASTLE CHARITY
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF CORFE CASTLE CHARITY
FOR THE YEAR ENDED 31 MARCH 2024
Opinion
We have audKeé the finan￿al statements of Corfe Castle Charity (the"CharfW) for the year onded
31 March 2024 which comprise the Slatemenl of financial activities, Balance Sheet and notes
lo Ihe financial slalemenls, including a summary of Significant ac¢ounling policies. The
rinanci81 repO￿ng framework that has been applied in their preparation is applicable law
and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The
Financial Reporting Standard ap￿icabl8 in the UK and RepubliG of Ireland (United Kingdom
Gen8rally AcG8Pted AccounJng Praclice).
In our oplnlon, the financial statements..
(i) glve a true and fair view of the stale of the ChariVs affairs as at 31 March 2024 and of its incoming
resources and application of resources for the year then ended..
(li) have been properly prepared in accordance with United Kingdom Generally A￿epted Acuunting
Practice" and
(illl have been prepared in accordance th8 requirèments of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Inlernalional Siandards on Audlting IUKI {ISAs {UK)) and
applicable law. Our responsibilities urKler those standard5 are further descrlbed in the Auditor's
responsibililie$ for Ihe audit of the finan¢io1 statements section of our report. We are independenl of th&
Charity In accordance vrith the ethical requirements that are relevant lo our audit of the financial
slalements in the UK, including the FRC'S EthTrl Standard, and we have fuFfilled our other ethlcal responsibilili&s
In accordance with these requirements.
We believe that Ihe audit evidence we have obtained is suffic4ent and appropriaie to provide a basis for our opinion.
Con¢luslons relallng to golng concem
In auditing Ihe financial statements, we have GOnGluded thal the trustees use of Ihe going concem basis of
ac¢ounling in the preparallon of the financial ststements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating lo events or
Conditions that, indiwdualW or collectivety, may cast significant doubt on the charilvs ability to continue as
a going concern for a pertod of at least 12 months from wh8n the financlal statements are authorised for issue.
Our responsibilities and the responsibilities of the twslees with respe￿ lo going concern are descrlbed In the
relevant sections of this report.
Other information
The Iruslees are Tesponsible frjr the other information. The other information comprises the infomiation
included in the Trustees, Annual Report other than the financial statements and our auditor's report
thereon. Our oplnion on the finarrial statements does not cover the other intormatM)n and,
we do not 8xpress any forrn of assuran￿ wnGlusion ther80n.
In connection with our audit of the financial statemenls, our responslblllty is lo read the othgr information
and. in doing so, consider whether the other information is materially in￿)nsIstent wlth the Itnancial
Page 4

CORFE CASTLE CHARITY
INDEPENDEKf AUDITOR'S REPORT (continued)
TO THE TRUSTEES OF CORFE CASTLE CHARITY
FOR THE YEAR ENDED 31 MARCH 2024
Other Information {conlinued)
statements OT our kno￿edge obtained in the audit or oth8rwis8 appears to b6 materially mlsslated. If we
identify such mat8rial inconsistencies or apparent malerlal mlsstatements, we are required to delemine
whether there Is a material mlsstatemenl In the financial slatemenls or a material misstatement of the
othef information. If, based on Ihe work we have perfonmed, we conclude that there is a material
misslalemenl of this other infomiation, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its envlronrnent obtaln8d In the Course
of the audit, we have not identif￿d material misslatemenls in the Truslees, Annual Report.
We have nothing to report In respect of the following matters in relation to which the Charrties Act 2011
requlrès us to report to you if, in our opinion-
(il the Informatlon given In the truslees rep)rt is inconsistent in any material reS￿t with the
finanolal statements., or
{ii) sufficient accounting recAJrds have not been kep( or
{lii} the financial slalements are not in agreement with the accounting records and retums., or
(iv) we have nol received all the infoTmation and explanation5 we require for our audm.
Responsibililles of the trustees
A5 explained more fully in the trustees, responsililities staternenl sel oul on page 2. the trustees are
responsible for the preparation of the financial slalements and f¢N being satisfied that they give a true and
fair view. and for SUGh internal ¢ontrol as they determine is necessary to enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing Ihe financial statements, the trustees are responslble for assessing the Charitys abilily lo
continue as a going concem, disclosing, as applicable, matters relaled lo going conc*m and using the
going concern basis of accounting unless the truslees either inlend to liquidate the Charty or to cease
operations, or have no reall$li¢ altemallve but to do so.
Auditor's responsibilities for the audit of the financial slatements
We have been appoirlled as auditor undei section 144 of Ihe Charilies Act 2011 and report In a¢cordan¢e
with the Act and relevant regulations made or havlng effect thereunder.
Flel¢her & Partners is eligible for appointment as auditor of the charity by virtue of ils eligibility for
appointment as auditor of a company under section 1212 of the Companies Ad 2(￿.
Our objectives are to oblain reasonable assuran￿ about whether the finanaal statements as a whole are
free from materlal misstatement, whether due to fraud or error, and to issue an auditorfs report that
Includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordan￿ with ISAS (UK) will afviays delect a malerial misslatemenl when it exists.
Misslalein8ntS Gan arise from fraud or effor and are considered material if, individualty or in the
aggregate, they Could reasonably be expected to infiuence the e(y)nomic decasions of users taken on the
basis of these financial statements.
Irregularities, including fraud, are instances of non-(x>mplianc8 with laws and regulations. We design
procedures in line wlth our responslbllitle$, outtined above, to detect malerfal misslalements In respect
of Irregularities, including fraud. The exient to which our pr￿dureS are capable of detecting irregularfb'es,
including fraud, Is detailed below:
Page 5

CORFE CASTLE CHARITY
INDEPENDENT AUDITOR'S REPORT {continued)
TO THE TRUSTEES OF CORFE CASTLE CHARITY
FOR THE YEAR ENDED 31 MARCH 2024
Audltorfs responslbllltles for the audlt of the flnanclal statsments (contlnued)
We ensured that the engagement team collectively had the appropriate Competence and capabillties to
recognise non-complian¢e with applicable laws and regulatlons-,
We identified the laws applicable to the charity through discussions with trustees and managernent, and
from our knowledge and experlence of the charlty and the sector., and
W6 8nsured that the laws and regulations which we Identif18d were communicated lo the engagement team
and that they remained alert to instan¢e$ of complianGe throughout the audit.
We assessed the susceptibility of the charivs financia] statements to material mis-statement, including
obtaining an understanding of how fraud might occur. by..
making enquiries of management as to their assessment of the risk of fraud and their knowledge of actual or
or alleged fraud., and
considering the effectiveness of intemal controls to mitigate the risks of fraud and non-compliance with law5
ané regUla￿on6.
We addressed the risk of fraud through management bias and the over-ride of controls by assessing whether
judgements and assumplions made by management were indicatlve of polenlial bia5 and by invesb'gating the
rationale behind significant or unusu81 Iransactions. In order to address the risk of irregularflies wè carried out
procedures which included agreeing the financial 51atemenls to undertying documentation and enqulrfng of
management a5 to actual and potential litigation and instances of non-complianco.
There are however inherent limit8tions in these audit procedures. The more removed that laws and regulaJons
are frorn fin8naal transactions, the less likely it is that we would be aware of non-compliance. Auditing
standards 8180 limit the procedures requlred to identify non-compllance to enqulry of management and
inspection of relevant correspondence. Furthemiore misstatements due to fraud can be harder to detect than
Ihose that arlse from error as they may involve deliberate concealmenl or Collusion.
A further description of our responsibillties for the audr( of Ihe financial slatements is located on Ihe
Financial R6porting Council's website at. www.frc.org.uklaudilorsresponsibililie8. This description fonns
part of 0￿r audilorfs report.
Use of our report
This report is made solely to the ChariV$ tnjstees. as 2 body, in accordance wlh sectlon 144 of
the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has
been undertaken so that we might state to the Charlty's trustees those matter5 we are required to
State to them in an auditorfs report and for no other purFX)se. To the fullesl extent permitted by law,
we do not acc8pI or assume responsibility to anyone other than the Charity and the Charitys trustees as a body,
for ou( audit work, for thls report, or for the opinlon5 we have forrned.
Fletcher & Partners (Chartered Accountants and Statutory Auditor)
Crown Chambers
Bridge Street
Salisbury
SP12LZ
Page 6

CORFE CASTLE CHARirf
STATEMENT QF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unre51ricted
Funds
Endowment
Funds
Total
Funds
2024
Total
Funds
2023
Note
INCOME FROM:
Donations and legacies
Investmen18
Charitable activities
other
TOTAL INCOME
850
143,815
204,357
850
143,815
204,357
700
137,135
193,535
50
331,420
349.022
349.022
EXPENDITURE ON:
Raising funds
Charitable activtties
35,584
224,782
35,584
227,192
19,278
227,166
2,410
TOTAL EXPENDITURE
260,366
2,410
262,776
246,444
NET INCOME J IEXPENDITUREI
88,656
(2,410)
86,246
84,976
NET GAINSIILOSSESI ON INVESTMENTS
Unrealised Gains and losses on revaluab'on of
Investment properties
Investments
12
13
110,000)
122,960)
81.594
16,562
98,156
TOTAL GAINSI(LOSSES) ON INVESTMENTS
81.594
98,156
32,%0
NET MOVEMENT IN FUNDS FOR THE YEAR
170,250
14,152
184,402
52,016
Total funds at 1 April 2023
2,880,461
1,533,104
4,413,565
4,361,549
TOTAL FUNDS AT 31 MARCH 2024
17
£3,050.711
£1,547,256
£4,597,%7
£4,413,565
The notes on pages 9 to 18 forn part of these 3CC¢)untS.
Page 7

CORFE CASTLE CHARrrY
BALANCE SHEEr
AS AT 31 MARCH 2024
2024
2023
Note
FIXED ASSETS
T¢nglble assets
Investment prop8rtieg
Other investments
11
12
13
1.580.976
1.841.000
1.093 892
4.515.888
1,541,086
1,841.000
4,327,
OTHER NON CURRENT ASSETS
Loans to indiwduals
P￿paY￿ents and 8￿rUed Inwne
15
15
23.927
10.637
8,698
19,030
CURRENT ASSETS
Stock
Deblors
CaBh at bank and in hand
14
15
2.309
43,183
45,240
90,732
2,355
34,138
78,H8
114.939
UABIUTIES
Credilors.. amounts Idling due wtthtn one ￿ar 16
43.197
NEf CURRENT ASSErs
47.535
66,713
NET ASSETS
£4,597.967
£4,413,565
THE FUNDS OF THE GHARITY
Endowment funds
Unrestricted fvnds
17
17
1.547,256
3.050,711
1,533.104
2,880,461
TOTAL CHARrff FUNDS
£4.597,967
£4,413,565
flnancial statements were approved by the TrusLees on
IKk
2024 and signed on their beha￿, ty.
J Coverdalo
Chaimlan
The notes on p8ges 9 to 18 fonn part of t￿8 awounts.
Paga 8

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL sTATEMEP￿s
for the year ended 31 March 2024
ACCOUNTING POLICIES
1.1 Basis of Preparation of Financial Statements
The financial statements of the Charity are prepared in accordance with the historical cost convention
with items recognised at cost or transaction value unless othetwise stated in the relevant notes to
these accounts. The financial statements have been prepared in accordance with the Statement of
Recommended Practice: Accounting and Reporting by Charits'es preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102> and the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS102), the
Charities Act 2011 and applicable regulations.
Corfe Castle Charity meets the definition of a public benefit entty under FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concern.
Estimates ané judgements 8re continually evaluated and are based on hislorical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circurnstances. The Charity makes eslimates and assumptions concerning the fvlure. The resulting
accounting estimates and assumptions will, by definition, seldom equal the related actual results.
No judgements {apart from those involving estimates) have b&n made in the process of applying the
above policAes.
The key assumptions conceming future and key sources of estimation uncertainty at the reporting date
that have a significant risk of causing a material adjustment to the carrying amounts of assets and
liabilities within the next financial year include the revaluation of the freehold properties and the level of
investment return and performance of the investment markets. See also Note 11.
1.2 Charity status
The charity is constituted by trust registered with the Charty Commission for England and Wales. The
principal office is 2 Battlemead, Corfe Castle, Wareham, BH20 SER.
1.3 Fund Accountlng
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes. An additions to endowed properties financed from unreslricted funds continue lo be part of
unrestricted funds.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes lo the financial statements.
The endowment fund represents those assets which must be held permanently by the Charity. Income
arising on the endowment fund can be used in accordance with the objects of the Charily and is
included as unrestricted income. Any realised or unrealised capital gains or losses arislng on the
investments form part of the fund.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Income
All income is recognised once the Charity has ent5tlement to the income, there is sufficient certainty of
receipt and so it is probable that the income will be received, and the amount of income receivable can
be measured reliably.
Maintenance contributions from almshouses and rents from affordable housing and agricultural land are
recognised in the period to which they relates. Rent from investhent properties let under operating
leases is recognised on a straight-line basis over the lease term, unless the receipts are structured to
increase in line with expected general inflation. Income from listed investments Is recognised when
declared receivable.
Page 9

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
1. ACCOUNTING POLICIES (continued)
1.5 Expendlture
Liabilities are recognised as expenditure as s￿n as there is a legal or ¢on$truclive obligation
comrnitting the Charty to that expenditure, it b probable thal settlement will be required and the
amount of the obligation can be measured reliabty.
All expenditure is accounted for on an accruals basis. All expenses, including support Costs and
govemance costs, are allocated or apportioned to the applicabl8 e>penditure headings in the
statement of financial activities.
1.6 Expenditure on Ralslng Funds
Expenditure on raising funds comprises costs in relation to the investment propertie8 held by th8
Charity.
1.7 Expondlture on Charltable Actfvlties
The charitable acliwties of the Charity cornprise making grants and gifts to t￿se in need,
prowding alrnshouse accommodation and providing affordable housing.
Grants payable ar& payments to third parties in furtherance of the Gharitsble objecls of the trust,
which are charged in the year when the offer is made except in those cases where the offer is
Gonditional, such grants being recognised as expellditure when th8 conditions attaching are
fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted
as a commitment, but not accrued as expenditure.
Costs of Charilable Activities include dirert expendiiure on the Gharitable aGtivilies and an
8PPOrtionment of support costs as shown in note 7.
1.8 Support costs
Support Costs comprise of govemance costs and other support costs.
Governance costs comprise all ¢osls involwng the public accountabilty of the Charity and its
compiiancc with rc9ulation and good praotice. These coots include costs related to legal and
professional fees, and auditlindependent examination together with a portion of Clerk's salary
costs relatlng to govornance. Other support costs cornprise a remainder of Clerk's salary costs
and l)ffI￿ expenses. All support costs are allocated equally across charitable activities they
support.
1.9 Tanglbl& Flxed Assots and Deproclatlon
All assets costing more than £1.000 are eapitalised and valued at historical cost. Certain
endowment properties for which no cost was known are included at a previous revalued amount
as al the date of transition to FRS102, (1 April 2015) and such values are now treated as
deerried cost.
Tangible fixed assets are stated at cost less depreciation. Depreciation is prowded at rates
calculated lo write off the cost of fixed assets. less their 6stimated resldual value, over their
Freehold Land
Freehold Buildings
Fixtures & Fittings
Housing Equipment
0%
2Yo
20D/o
4%16.67%110%
not depreciated
straighl line
51raight line
straight lin8
Additions to freehold buildings are depreciated over the remaining life of the building concerned.
Where the recoverable amount of a tangible asset is found lo be below its nel book value, the
asset is written down to its recoverable amount and the loss on Impaimient is charged to the
relevant expenditure category ol the Statement of FinanGial Adivities.
Page 10

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
for the yearended 31 Ma￿h 2024
1. ACCOUNTING POLICIES (contlnued
1.10 Investments
Investments are a form of basic fi'nancial Instrument and initially recognised at their transadion
value. Subsequently they are stated at fair {bid) value at the balance sheet date. All gains and
losses are taken to the Statement of Financial Acttvitrds 8S they arise. Realised gains and losses on
inveslmanls are calculat&d as th6 drfference between the sale proceeds and opening fair value (or
purchase date if later). Unrealised gains and losses are calculated as the difference beitween the
fair value at th6 year end and opening fair value lor purchase date if later).
1.11 Investment Properties
Investment properties are included in thè Balance Sheet at their fair value as at the balance sheet
date and are not depreciated. This is in accordance with Generally Accepted Accounting Practice
for investment properties.
All ains and losses are taken lo the Statement of Financial Activities as they arise. Realised gain8
an
osses on investments are calculat8d as the dtff8rence belween the sale proceeds and opening
market value (or purchase date if later)- Unrealised gains and losses ar6 calculated as the
difference between the market value at the year end and opening market value (or purchase date if
later).
1.12 Stock
Stock is valued at the lower of cost and net realisable value. Co8t comprises dir8Ct costs of
production.
1.13 Debtors
Debtors are measured at the amounts the Charity anticipates it wtll receive from a debt or the
amount it has paid in advance far goods or services. Loans to individuals are concessionary loans
made to advan￿ charitable purposes for the benefrt of the charily's beneficiaries. Loans are initially
recognised and measured gt the amount paid. with the carrying amount adjusted in subsequent
years to reflect repayments or further loans made. No interest is charged.
1.14 Cash at bank and in hand
Cash at bank and in hand includes cash and cash on deposit.
1.15 Llablllties
Liabilities are measured at the amounts the Charity anticipates it will pay lo settle a debt or the
amount it has received as an advance payment for goods or seNices il must provide.
1.16 Flnancial Instruments
The Charity only has financial assets and liabilities of a kind that qualify as basic financial
inylruments. They are initially recognised at transaction value and subsequently measured at their
settlement value, except for Investments, which are shovm at fair value (see note 1.10).
1.17 Penslons
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the charity to Ihe fund in respect of the year.
1.18 Taxatlon
The Chartty is regist8red for VAT and is partially exempt. Irrecoverable VAT is not separately
analysed and is charged to Ihe Statement of Financial AGtNities when the expenditure lo which it
relates is Incu￿ed and is alloGated as part of the expenditure to which it relates.
Page11

CORFE CASTLE CHARI
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
2. INCOME FROM DONATIONS
Unrestricted Funds
2024
2023
Donations
£850
£700
3. INCOME FROM INVESTMENTS
Unrestricted Funds
2024
2023
Rent from investment properties
Income from investments
Interest receivable
123.192
20,550
73
£143 815
119,996
17,122
17
£137 135
4. INCOME FROM CHARITABLE ACTIVITIES
Unrestrided Funds
Maintenance contributions from almshouses
Rents from affordable housing
85,381
118,976
£204,357
80,227
113,308
£193,535
5. EXPENDITURE ON RAISING FUNDS
Unrestricted Funds
2024
Investment properties, expenses
Letting agents, fees
Legal fees
Staff cosls
Book printing and associated costs {adjusted for stock)
23.969
10,338
500
730
47
£35.584
12,604
5,866
738
7Q
£19,278
6. EXPENDITURE ON CHARITABLE ACTMTIES
2024
Direct cosls
staff
costs
Support
sts
(Note 71
Total
Other direct
costs
Depreciation
and disposals
2024
Grants and grfts (Note 9)
Almshouses
Affordable Housing
32,799
43,008
47,583
£123 390
14,047
14,047
14,048
£42 142
46,846
83,444
96.902
£227 192
10,215
3,648
£13 863
16,174
31,623
2023
Direct costs
staff
cosls
Support
costs
(Note 7)
Total
Other direct
cosis
Depreciation
and disposals
2D23
Grants and gifts {Nole 91
Almshouses
Affordabl8 Housing
37,421
56,750
13,614
13,615
13,614
£40 843
51,035
96,519
79,612
£227.166
10,335
3,691
£14026
15,819
27,270
£43.089
£129 208
Of the total expenditure on charttabl8 activtties, £224,782 (2023.. 224,756) was expenditure from
unreslricted funds and £2,41012023'. £2.410) was expenditure from endowment funds.
Page 12

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL STATEMEfrrrs
for the year ended 31 March 2024
SUPPORT COSTS
Unrestricted Funds
2024
2023
GOVERNANCE COSTS
Accountancy fees..
Audit
Accounts preparation
Payroll and auttrenrolment
Vat Returns and assistancg
4,368
3,101
715
1,912
2,612
7,346
3,706
2,871
747
2,894
2,536
6,328
2,604
21,684
Insurance
Staff costs
Professional fees
20,054
OTHER SUPPORT COSTS
staff costs
Office expenses
22,038
50
18,979
180
Totsl
£42,142
£40,843
STAFF COSTS
Total
2024
Total
Wages and salaries
Pension costs
43,303
674
£43,977
39,514
555
£40,069
staff cost5 cornprised of:
a) Clerk'5 salary costs classed as support costs and allocated to activities they support based on time
apportionment.
b) Propety Manager's salary costs classed as direct costs shared btheen Raising Funds and
Charitsble activities based on time apportionment.
The average number of employee5 during the year was 2 {2023: 2). No employee receNed
remuneration in excess of £60,000 and no Trustee r￿e1Ved any remuneration, benefi1$ in kind or
ieimbursed expen$e812023.' Nil).
The Truslees, the Clerk to the Trustees and the Propety Manager are considered to be the key
management personnel of the charity. The total cost of the key management personnel during the year
was £43.977 (2023: £40,069).
GRANTS AND GIFTS
Total
2024
Total
202
To individuals
To institutions
29,713
3,086
£32 799
29,034
8,387
£37 421
Grants to Individuals
Number
of grants
Total
2024
Number
of grants
Total
2023
General grants
Educational grants
26
18
44
6,042
23,671
21
15
2.601
26,433
Page13

CORFE CASTLE CHARITY
NOTES TO THE FINANC]AL STATENIENTS
for the yoar ended 31 March 2024
GRANTS AND GIFfs (CONTINUED)
Grants to In$titutlon8
N￿nber
of grants
Total
2024
Number
of grants
Totsl
In 23124 a grant of £1,000 was made to Crazy 4 Corfe, grant5 in total of £1,500 to Corfe Valley News,
grdnl of £486 to Corfe Castle Primary Schod and a grant of £100 to Friends of Corfe Castle Community
Library.
In 22123 a gronl of £6,602 was madg to Corfe Costk Pre-school. a grant of £1.035 to Corfe Castle Youlh
Club, a grant 01 £500 te Corfe Valley News. a grant of £150 to Corfe Castle Prlmary School and a giant of
£100 to Corfg Community Kilchgn.
IQ. RELATED PARTY TRANSACTIONS
During the year twe grants of £2.000 eath ￿tre paid to relatives of a trustee and the clerk. (ln 2023 one
grant of £2,000 was paid to g relalive of a trustoe.)
Iq POST BALANCE SHEET EVEPUS
In June 2024. the tenant of one of the c￿nMer￿al properties went into adfflinistralion. its business havin9
beern sold by the administrators and the lease asslgned to the new owner. Thi5 event 9￿[[rred after the year
enol and is con8idered a adjusllng event. TD date, the rent ha3 continwl lo b9 paid in line wlh the
existing tenanry agreement. However. the thgrity is Currently in negotiations with the rew owner which 15
likely lo r&sull in a reductson in cash flows by approxrnatsly £12.500 per annum. and adver8ely affectyn9
the propety valuations by appro￿rnately £150.CKQ.
12. TANGIBLE FIXED ASSETS
Freehokl
18nd and
buildlngs
Fumilure
fittings ar
oqulpmwt
Houslng
equlpment
Total
COST OR VALUATION
At 1 ApHI 2023
Addlli¢n8
DispoBals
Al 31 March 2024
2,109,901
11,428
225,509
87,688
2.321
310,876
2,346,838
87.S88
2.321
2 432 205
2109901
DEPRECIATION
At1 April 2023
Charge for the year
Written back on disposals
At 31 March 2￿24
629.238
29,621
11.428
165.086
17.943
12.08D
180,942
805.752
47,564
12,Q871
851229
658,859
11,428
NET BOOK VALUE
At 31 March 2024
£1451042
£129 934
£1580 976
At 31 March 2023
£1480 663
£60 423
£1 541086
13. INVESTMENT PROPERTIES
Freehold
pro￿rtY
VALUATION
At 1 April 2023
Rgvalualion
At 31 March 2024
1,841,000
£1 841 000
The investm8nl prop8rb&s wer8 rgV81ued in 2023 by Carter Jona8. Chartered SuNeyors, at fair value. Tho
Trustees believe that thè fair values of the investmerbt properties al 31 March 2024 have not changed 3lnce
the 2023 valuation.
14. FIXED ASSET INVESTMENTS
Charitable
Common
Investment
Funds
MAFIKET VALUE
Al 1 April 2023
AddiliDns at cost
Revaluations
At 31 March 2024
945,736
50,000
98 15S
£1 093 892
The hlslorlc cost of fixed asset InvestmentB at 31 Marth 2024 w8¥ £595,48112023'. £545.481).
Page 14

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL STATEMEKrs
for the year ended 31 March 2024
15. STOCK
202
2023
stock of books 'The Penny Loaves of Corfe Castle"
16. DEBTORS
AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
02
Trade debtors
Loans to individuals
Prepayments and accrued income
19,473
6,062
17,648
£43,183
17,978
3,850
12.310
£34,138
AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
202
Loans to individuals
Prepaymenls and accrued income
23,927
10,637
£34 584
6,698
12,332
£19 030
The loans have been made on an interest-free basis to indiwdual households that have encountered
serious financial difficulty, and are being repaid by monthty instalmerrts. The loans are unsecured.
Total Loans to individuals
20
2023
BalanGe al 1 April 2023
New loans authori8ed in year
Amounts written off
Amounts repaid in the period
Balance al 31 March 2024
10,548
25,560
16,581
(1,871>
4,162
£10 548
6,119
17. CREDITORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Rent deposits
VAT, Social security and other L2xes
other creditors
Accruals and deferred income
Accruals for grants payable
6.071
5,165
2.056
28,780
1.125
£43 197
8,071
8.061
3,934
30,910
£48 226
Deferred income
2024
2023
Balance at 1 April 2023
Amounts released to incoming reSoUr￿S
Amounts deferred in the period
Balance at 31 March 2024
18.461
118,461)
19,559
£19559
16,538
116,538)
18.461
£18461
Deferred income comprises the portion of rent that relates to periods after the balance sheet date.
Accruals for grants payablo
2024
202
Grant commttinenls recognised as at 1 April 2023
New grant commitments charged to the SOFA in year
Grallts paid during the year
Grant ¢(xllmitmenls roGognised as at 31 March 2024
1.250
32,799
32,924
37,421
36,171
Page15

CORFE CASTLE CHARI
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
18. THE FUNDS OF THE CHARiff
2024
Brought
Forward
Income
Expenditure
Gainsl
(Losses)
Carried
Forward
ENDOWMENT FUNDS
Endowed Funds
1,533,104
(2,4101
16,562
1,547,256
UNRESTRICTED FUNDS
General Fund
Designaled Propety Fund
1,891,461
989,000
2,880,461
349,022
{241,1111
(19,255)
{260,286}
£{262,776}
81,594
2,080,966
969,745
3,050,711
349,022
B1,594
TOTAL FUNDS
£4,413,565
£349,022
£98,158
£4,597,967
2Q23
Brought
FoThvard
Income
Expenditure
Gainsl
(Losses)
Carried
Forward
ENDOWMENT FUNDS
Endowed Funds
1,547,638
2.410
12,124
1533 104
UNRESTRICTED FUNDS
General Fund
Oesignaled Prr4)erty Fund
1,805,656
1,008,255
2813.911
331.420
{224,7791
(19,2551
244,034
(20,836)
1,891,461
989,000
2,880,461
331420
2D,836
TOTAL FUNDS
£4 361.549
£331420 £4413565
The permanent Endowmenl Funds comprise assets gifted to the Charity for it to use to proMdÈ benefits to
the local communty. The income arising is unrestricted.
The General Fund exists lo provide relief either generally or indmdually to p6rsons r8sldent in th8 parish of
Corfe Castle who aro in Conditions of need, hardshlp or distress, including tho provision of almshouses.
An additions to endowed properties financed from Unrestricted Funds continue to be part of Unrestricted
funds.
The Designated Property Fund represents the net book value of properties purchased and built to provide
affordable housing in the parish of Corfe Castle. The Trustees have designated this fund to distinguish it
from resources freely available to fund future projects.
In the Trustees, opinion, the resources are held in an appropriate form to enable each fund to be applied in
accordance with any restrictions.
Page 16

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
2024
Endowment
Funds
202
Total
Funds
2024
Tangible fixed assets
Investment propertles
Fixed asset investrnents
Deblors due in more than one year
Stock
Debtors due in less than one year
Cash at bank and in hand
Liabilities
1,381,525
690,067
897,020
199,451
1,150,933
196,872
1,580,976
1,841,000
1,093,892
]:j
34,564
2,309
43,183
45,240
(43,197)
£3,050,711
34,564
2,309
43,183
45,240
(43,197)
£4.597,967
£1,547,256
unreStr￿ted
Funds
2023
Endowment
Funds
2023
Total
Funds
2023
2023
Tangible fixed assets
Investment properties
Fixed asset investments
Debtors due in more than one year
Stock
Debtors due in less than one year
Cash at bank and in hand
Liabilities
1,339,224
690,067
765,427
19,030
2,355
34,138
78,446
(48,226}
£2 880461
201,862
1,150,933
180,309
1,541,086
1,841,000
945,736
19,030
2,355
34,138
78,446
(48,226)
£4413 565
£1533 104
20. CAPITAL COMMITMENTS
Al 31 March 2024 the charity had £9,163 of capital expenditure commitments (2023.. £nil).
21. PENSION COMMITMENTS
The charlty contributes to a defined contribution pension scherne wth NEST and had 1 active member in
the Scheme. During the year the Gontributions were £674 (2023.. £555) and contributions of £358 (2023..
£354) were outstanding at the balance sheet date.
22. OPERATING LEASES (a lessor)
The charity is entitled to the following future minimum lease receipts under non-cancellable operating
leases:
2024
2023
Due in not later than one year
Due in laterthan one year and not later than five years
Due in later than five years
50,833
171,000
127,500
349,333
64,167
177,333
170,000
411,500
Subsequent to the year end the charity has entered into negotiatTrons over one ol the leases which is likely
to result in a reduction in future cashflows from operating leases of approximately £100,000. See note 11
for more details.
Page 17

CORFE CASTLE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024
23 COMPARATIVE STATEMEPll OF FINANCIAL ACTMTIE8 FOR YEAR ENDED 31 MARCH 2023
Unrestricted
Funds
Endowment
Funds
Total
Funds
2023
Nole
INCOME FROM..
Donatlgns andlgg8cies
Investments
Charftsble aotivities
Other
TOTAL INCOME
700
137,135
193,535
700
137,135
193.535
50
331420
331420
EXPENDITURE ON..
Raising funds
Charitsble activities
19,278
224, 756
19,278
227,166
2,410
rorAL EXPENDITURE
244.034
246 444
NETINCOMEI (EXPENDITUREJ
87.386
(2,410)
84,976
NET GAINS/(LOSSES) ON INVESTMENTS
Unrealised G8ins and losses on revaluation of
Invo$tn7entproperties
Inwestrnents
12
13
(4,898)
(15,938)
(5. 102)
(T,022)
flO,OOOJ
f22,960)
TOTAL GAIAIS/(LOSSES) ON INVESTMENTS
20.836
(12, t24)
32,960
NETMOVEMENT IN FUNDS FOR THE YEAR
66.550
(14,534)
52,016
Total funds st 1 Apnl 2022
22
2.813.911
1, 54T,638
4.361,549
TOTAL FUNDS A T 31 MARCH 2023
17
2,880.461
1.533,q04
4.413 565
Pagg 18