REGISTEREDCOMPANY NUMBER: 04791066 lEM￿and and Walesl REGISTERED CHARITY NUMBER: 1098618 REPORT OF THE TRUSTEES AND FINANaALSTATEMENTS FOR THEYEAR ENDED31 DECEMBEII 2023 FOR GEORGE FENTHAM HAMPTON IN ARDEN CHAR Thy INCORPORATING GEORGE FENTHAM HAMPTON IN ARDEN ENDO%YED CHARITY J W Hlnks LLP Chartered Accountants and Statutory Auditors 19 Hi8hlleld Ruad Edgbèston 8lrmlngham 815 3BH GEORGE FENTHAM HAMPTON IN ARDEN CNARirY INCORPORAMNG GEORGE FENTHAM HAMPTON IN ARDEN ENDOWED cHAR￿y CONTEPM OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Pw R•port01thoTn￿1I•s I to 7 R•portof th• Ind•p•nd•nl Audlto 8 to 10 St•t•mwrt of Fln•nthl Actl¥4tl•s 11 to 12 B•lwK• Sh••t 13 to 14 Notsi toth• Fln•rKl•l St•tem•nts 15 to 33 GEORGE FENfHAfrA HAMPTON IN ARDEN CHARITY INCORPORATING GEORGE FENTHAM HAMPTON IN ARDEN ENDOWEDCHARITY IRE615TERED NUMBER: 047940661 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 310ECEMBER 2023 The trustees who are a150 dlrectors of thè charlty lor the purposes of the Companles Act 2006, present thelr report wlth the fiThèncial Statements of the charity for the year ended 31 December 2023. The trustees Iwve adopted the provlslons of Accounting aThd Reportlng by Charities.. Statement of Recommended Practice applicable to charities preparlng thelr accounts In accordance wlth the Flnanclal Reporting Standard appl*able in the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191. OBJECTIVESANDAcnviTIES Purposes alms The George Fentham Hampton in Arden Charfty's oWe¢ts a￿ to admlnlster alm5hou5es. other propertles and asseis owned by the charity to generate an Income and to apply the incorne for the beneflt of the resldents of the almshouses and In charkable purposesforthe 8eneral benefit of the Inhabitants of Hampton In Arden. Its prlnclpal actlvbtles Include the followln8. The provlslon of almshouses to provlde accommodatlon for lesldents Ilvlng In the area of Hampto In Arden. The provlsloTh of a vlllage hall for use bythe Inhabltsnts re51dlTrg In the area of Hampion In Arden. Maklngsrants available to Fen5bner5 and resldents In need Ilvln8 In the area of Wampton In Ardèn. Makln88rants avallable for chèrltable edutat5onal Pur￿leS In the area ol Hampton In Arden. Makln8 8rants avallable tg organlsatlons or Inhabthnts resldln8 in thè area ol Hampton In Arden. To upkeep, rep•lr, malntaln and rebulld any of the charlty's propertles or any other recreatlonal institutlon being charltable for the general benellt of the resldents of thè area of Hampton In Arden. ET￿rIng our ￿KIrk dellv•rs our •lms We ￿VIeW our alms, oblectlves and èctlvf(les each year. This review look5 at what we achleved and the outcomes of our work In the prevlous 12 months. The rèvlew looks at the success of each key actlvlty and the benefits they have brou6ht to those groups of people the charlty Is set up to help. The rev5ew also helps ensure that our alms. oblectlves and actlvltles remalned focused on Qur stated purposes. Thèfoojs ofourwork The focus of the charlty's work eortlnue5 to be the to admlnlstratlon of almshouses, other propÈrtle$ and assets owned by the charlty to generate an Incorne and to apply the Income for the beneflt of the iesldents of the almshouses and In charltable purposes forthe general beneflt of the 5nhab￿an1$o1 Hampton In Arden. ' Grnntmok5n8 ThE charity fevlew5 grant appllcatlons from varlous or8anlsaibns and indivlduals who support and dellver the charlty'5 oblects. Potentlal reclplents of grants pakl by the charlty a￿ ￿vIewed by a sub￿rn￿1tttt of the charlty on a case by case basls dependlnB upon rhe avall81￿e ￿sOUrceS of the charlty. The sub to ass15t wlth thelr hlgher educatlon expen5e5. FINANOALREVIEW Fln•nclil poS￿10n The Statement of Flnanclal Actlvltles for the year ended 31 December 2023 shows Incomlng resource5 for the ye4r rotslllng £468,27712022.. É426.0521 and resources expended iotalllng £529,86612022'. E389,0311. Net Incomln8 re50urce5 after reallsed and unre3llsed galns and losse5 on freehold and Investment propertle5 and flxed asset Investments for the year ended 31 December 2023 amounted to £860,60512022.'net resources expended after reèllsed and galns and losses on freehold and investment propertles andflxed a￿et Investrr*nts totslling £150,240). As a result, the charlty's total lunds have Incrèas￿ from £8,856,219 as ai 31 December 2022 to E9,716,824 as at 31 December 2023. The trustees consider the current level of funding 15 adequate to SUPPDrt the continuation of the charity's tX15tin8 Page 2 GEORGE FeNfHAM HAMPTON IN ARDEN CHARiri INCORPORATING GEORGE FENTHAM HAMPTON IN ARDEN ENDOWED CHAIIITY (REGISTERED NUMBER.. 04794Q661 REPORT OF THÉTRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 FINANaAL RÉVIEW Investment pollcy and oblettives The charlty malntalns an invesiment wrtfollo along with various resldential and Investment propertles in wder to provlde funds 50 that the charlty may achleve Its Object￿5. The trustees, In toThjunctlon with It5 Independent Inve5trnent mana8er. h3ve made changes to the charlty's Inve5trnent portlollo during the yearended 31 DecemLEr 2023 a5 summ3rlsed In note 17 tothe Ilnanclal staternents. Re5¢p￿ polky The wllcy for reserve5 Is detemi5ned by the long term materlal need for the malfitenante ol the charfty's almshouse$, together wlth an operatln8 contlngency to cover any unexpetted shortfall In the charlty'5 income. The trustees have establlshed a general resèrves pollry to ensure that the charlty can meet the pro8rarnrne for beneficlar5e5 and manage the Impact of any unplanned Iluctuatlons In the value of the ¢harTty'S nèt Inco￿￿. Gener81 reserves provlde some protectlon tothe charfty and its charltable proKramme. At 31 December 2023 the level of free reserves was SLrfflclent to Ènable the charty to meet Is oblectlves. FUTURE PLANS Durln8 the cornlThg year the charfty will contlnue to tarry OLrt Its prlnclpal actlvltles to beneflt the resldtnt5 of the charlty's almshouses and for the general beneflt of the Inhabttants of Hampton In Ardern. STRucfuRE. GOVERNANCÉ AND MANAGEMENT Governln8 dwum•nt The Geor8e Fentham Hampton In Arden Chadty Is a company Ilmlted by 8uarantee Ireg15tered number 0479406601 whlch wa5 Incorwrated on Iojune 2003 and achieved charltable status on 17 Jufy 2003 Ireglstered number 10986181. The charlty was establIs￿d under a Memorandurn of Assoclatlon wh5ch e5tab115hed the objects and powers of th• charlty and Is governed under its Artlcles ol AggoclatlLin. In the event of the chartty belng wound up members are required to contrlbute an amount not exceedln8 £10. The charlty was orlglnally e5tab115hed by the Wlll and Testament of Geor8t Fentham In 1696, subsequently constltutéd by a scherne of the Charliy CommSssloners on 23 December 1907 and further subject to a scheme ol the Char Commlssbners dated 26 Sèptèmbér 1980 varled by a scheme made on 20 January 1992 la5 modlfled by the order of the Commlssionersl. On 19 May 2004 the charity changed Its name from George Fentham Hampton In Arden Charft¥ to George Fentham Hampton In Arden Endowed Charlty at whlch time a new charitable company was incorpDrated and assumed the name of George Fentharn Hampton in Arden Charlty. The charitable company t￿k over the expendable property of the prevlous tharlty except lor all land dellned a5 perrnanent endowment whlch Is vested In the new comwny as trustee to be held Sn trust on the terms of the orlglnal trust. Page 3 GEORGE FENTIIAM HAMPTON IN ARDEN CHARirY IfrKORPORATING GEORGE FEKfHAM HAMPTON IN ARDEN ENDOWÉD CHARITY IREG15TERED NUMBER: a4794￿6) REPORT OF THETRUSYEES FOR THE YEAR ÈNDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT R•cNltm•nt and appointment of new trustees Thelollowin8 bodies hèvethe rlght to nomlnate the ftsllowln$ numberof trustees. Twotrustees shall be nomlnated by thè Borough Councll of Sollhull. One trustee shall be appolnted bythejustlces of the Sollhull Petty Divlslon. Three tr115tee5 shall be¥wolnted by the Parfsh Councll of Hampton In Arden. The trustees a150 have the rl8ht to COdOPt up to four addltlonal trustees by r&solutK)n passed at an extraordlnary general meetlni of the charf(y. The rnaxlmum lenEth ol term of offlte for tNstees nom5nated by the Boro￿￿h Council of Sollhull and for trustees 4ppolnted by the Justice$ of the Sthihull Petty Dfvlslon andthe Parlsh Councll of Hampton In Arden114 years. The maxlmum length of term of offlc• forC0￿pted tru5tee515 5 yeats. All trustees 8lve the5r tlme voltjntarlly and recelve no benefits from the charfty. Any expense5 reclalmed from thè ¢harltv are Set out In the notes lo the f5nanclal statements. Ory•nlJ4tlon•l strudur• The Geor8e Feniham Hampton In Arden Charlty Is organlsed so that Its B￿rd of Trustees meet rtgulady to manaBe the charlty'5 affairs and fomiulate pollcy and the trustee5 are responslble for all Olcy and financlal dec155on makln8 on behalf of the chartty. In order to do thls, a sub-comrnltttè ol the trustees meets four tlmes per year and recelve5 Inde￿n￿eTht Investment ath5ce from the charity's Independent Investment rnana8er. Thls $ub1 DECEMBER 2023 ACCOU14TING POUaEs-￿nIlnued INCOME Grant income from other thlrd partles 15 recoBnlsed at falr value when the charity has entltlement after any perfofmance condltlons have been met, It is probable that the income will be received and the arnount can be measured rellably. If entltlement is not mei then these amounts a￿ deferred. EXPENOITURE All expendlture Is accounted for on an acenjals basls and has been classlfled under headln8S that ag8re8ate all costs ￿lated to the cate80ry. Expendlture 15 recognlsed where there Is a legal or con5tructlve obllgatlon to make poyrnents to third partles, It Is probable that the yettlement wlll be requlred and the amount of the obllgatlon can be rneasu￿d rellaNy. It15 categor15ed undef the followlns headln85. Expendlture on charltable actlvltles, Other eXPend￿u￿ representlng thgse Iterns not fallln8 Intg the above categorits. Supp)rt costs are those that asslst wlth the work of the charlly but do not dlrectly ￿present charltable actIv5t￿$ and Includ8 offlce costs, 8ovem8nce costs and other admln15tratlve costs. Grants payable to thlrd partles are wlthln the charlty's charltable oblectfvès. Where un£oNditlonal grants arè offered. thls Is accrued as 500n as the reclplent Is notllled ol the 8rant as thls gives r15e to a reèsonable eNpettatSon that the reclplent wlll recelve the 8rant. Where 8rants are cond5tional relatln8 to performanee then the Brant Is onty accrued when any unfulfllled condlt10Tr5 are out51de of the control of the tharlty. TANGIBLE FIXED ASSETS Lo￿lj)￿llnd_an￿_￿y1l￿lfj )me year$ 880 11 Wès the practke of the charTty to Include hou51ng land and bulldlTr85 used for charltable purposes at a nomlnal value of £1 each Iwlth the exceptlon of Fentham Hall whlch had a nll value due to the bulldln8's nature, usage and positlon held w￿h1n the charltyl whlch 1$ In accordance wtth tradltlonal practlce as the propertles were con51dered to be a perm•nent endowment of the charlty ètthattlme. In order to comply wlth the charIt￿ SORP IFRS 1021 "AccouTrtlng and Reportlng by Ch?dtles.' Statement of RecornrnendEd Practice app15cable to charftles prepèrlng their accounts In accordance wffth the Financial Reporting Standard appllcable In the UThited Kingdom and Republic of Ireland IFRS 1021 leffectfve l January 20191" and wlth the Companles kt 21J)6. these assets have been revalued to the1r mat*et vilue by the trustees wth the help of the charlV5 professlonal advlser, N C Russell MRICS of Nlck Russell Assoclates. They hove been Included at market value as at 31 Decernber 2023, The properrie5 5nvolved are Fentham Gr8en Ilncludln8 the Warden'5 House). the Fentham Hall Caretaker's Lod8e and the 8ara8e plot at Belle Vue Terrace. Commerclal and agricultural propertle5 were revalued a5 at 31 Decernber 2023 by the trurtees wkh the help of thelT professional advlser, N C Russell MRIC5 of Nick Russell Assocl*es. These have been Included at market valut as at 31 Docemter 2023. Fentham Hall, as stated eadler, has no value in the financial ststernents for charitable purposes in accordance wlth tradltlonal practlce as the propertv 15 considered to be a permanent endowrnent of the charity. However, the trustees ijid obtsln a value on a contrècto¢5 bèsis. of £L500,000 in 2017 wlth the help of their professional a(fvlser, N C Russell MRIC5 of Nlck Russell Associates. Thi5 Is consldered only to act as an aide-mernoire to thé financlal statements and not as a monetary valuation. Pa8e 16 contlnued... GEORGE FENTHAM HAMPTON IN ARDEN CHARITY INCORPORATING GEORGE FENTHAM HAMPTON IN ARDEN ENOOWEDCHARrrY NOTES TO THE FINANCIAL STATEMENTS-eortlnued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLlaES- contlnu INVESTMENT PROPERTY Investment property is measured using the farr value model and Is stated at its lalr Val￿ as at the reportlng end date. The surplu5 or deflclt on revaluatlon Is recognlsed In the Statement of Flnanclal Actlvlties. TA%AnoN The charFty is exempt from corporatlon tsx on itscharltsble actlvities. EMPLOYEE BENEFITS When employee5 have rendered service to the charfty. 5hort-tèrm ernployee benefft5 to whlch the &m￿O¥te5 are entitled are reco6nised at the und15counteé amount expecred to be pald In exchange for that servlce. Termlnatlon benef5ts are recognised imrnediately a5 an expense when the charity is dtmonstrably commltted tt* temilnate the employment of an employee or to provlde termlnatlon benellts. CASH ANDCASH EqUIVALENTS sh and cash equlvalents Include cash In hand and deposlts held at call w￿h banb. Bank overdrafts are shown w((hln borrowlngs In cur￿￿ 1lab1lit￿. INVESTMENYS InVestn￿nts are recognlsed Inltlally at falr valuè whlch Is normally the transactK)n pri£e excludlng transactkjn costs, Subsequentlyi they are rnea5ured at fa5r value wlth chan8e5 reco8nlsed In "net 8aln5111055e51 on Investments In the Staternent of.Flnanclal Actlvltles 11 the Investments are publlcly traded or thelr falr value can atherwise be measured relSably. FVNDACCOUNTING Unrestrlcted funds carn bÈ usèd In accordancè wlth the charitsble oblectlvès at the dlscrètlon of thè trU￿t*s. Restrlcted fvnds can only be used for partlcular restrfcted purposes wlthln the oblerts of the charlty. RestrlctloTrs arlse when 5peclfted by the donoror when funds are ralsed for partlcular re5trfcted purposes. Further èxplanatlon of the nature and purpose of each fund15 Intludèd In thè notèsto thè financlal statements. FINANCIAL INSTRUMENTS The charlty ha5 elected to apply the provlslons of Sectlon 11 '8a51c Flfianclal Instrurnents. and Sectlon 12 "Other FlnaThclal Instruments Issues of FRS 102 to all of ￿5 flnanclal statements. FlnaThclal instruments are reco8n15ed in the charfty's balèncè shèèt whèn the thèrfty becomes ￿rtY to the contractual provlslons of the Instrument. Flnanclal assets and liabilities are offset, wilh the net amounis presented In the ftnanclal statement5, when there is a legally enfor￿able rf8ht to 5Pt off the recogni5ed amounts and there is an Intention to settle on a net basls or to reallse the a55etand settle the Ilabllity 5imultaneou51y. Ba$l¢lln•n¢l•l •$￿5 Basic financlal a55et5, whlch include trade and other recéfvables and cash and bank balance5, a￿ Inltlally MeaSu￿d at transaction prlce Includln8 transactlon cosrs and are subsequertly carrled at arnortlsed cost usln& the effective interest method unl?55 the arrangernent constrcutes a financin8 transaction where the transaction Is measured at the present value of the future recelpts dlscounted at è market rate of interest. Otherflnanclal assets Page 17 continued.. GEORGE FENTh AM HAMPTON IN ARDEN CHARITY INCORPORAnNG GEORGE FENTHAM HAMPTON IN ARDEN ENDOWED CHARITY NOTES TO THE FINANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIE5- comlnued FINANCIAL INSTRUMENTS Other flnanc131 asset5 are 5nltlally measured at fal¥ valtse whlch Is normally the transartion prlce. Such assets are subsequently carrled at farr value and the chan8es in falr value are reco8nised In the Income and expenditure ¢couni, except ihat Investments in equlty Instruments that are not wblicly traded and whose fair ¥rdlues connot be measured rellably are measured at C05t less Imp3lrment. Trade debtors, loar*s and other ￿￿4Vable$ that have Axed or determlnable p.aymeThts that are not quoted In èn ctlve rnarket are classilled as 'loans and re￿]vable$, Loans and ￿CeIVable$ a￿ measured at amortlsed cost uslng the effectlve Interest rnethod le55 any 1rnpa1r￿￿rnt. Interest 15 recognlsèd by applyln8 the effective Interest rate, except for short-term ￿CeIVable$ ¥vhen the recognstlon of interest would be Imrnaterfal. The Effectlve Interest rnethod Is 3 metbod ol calculatln8 the amortlsed cost ol a debt Instrument and of all£￿atIng the Interest Incorne over the relevant perlod. The effeCt￿e Intèrest ratè Is the raie that exactly dlscounts estlmated f￿lUre cash re￿IptS through the expected Ilfe of the debt Instrument to the net carryln8 amount on Inltlal recognition. Impalrniqnt of finonclal 055ets Flnanclal assets, other than those held at lalr value through Income and expendlture. are 8ssessed lor indlcator5 of Impalrmerf at each reportln8 end date. Flnanclal a55et5 are impèlrèd where there Is oblectlve evldence that, as a result of one or more events that occurred after the In*lal re(￿nitIOn of the linanclal a55et, the e5tlrnated future cash flows have been affecred. If an asset Is Irnpalred, the impalrment loss Is the dlfference between the earryln8 amount and the present value of the e5tlmated cash IIow5 d15counted at the a55et's crlglnal effeCt￿e Interest rate. The Impalmient 1055 Is reco8nlsed In the Income and exFendlture account. If there 1$ a decrease In the lmpalrment1055 arSs4ng from an event c(currln8 after the Imp3irrnent was reco8nlsed, the Irnpalrrnent 15 reversed. The reversal Is such that the cvrrent carrying amount does not exceed what the carrylng amount V40uld have been had the Impalrment not previousW been rÈcognlsed. The 5mpèlrrnent reversal Is recognlsed In the Income and expendlture account. tlerewgnlllon of fln•ndal asgets F5nanclal assets are derecognlsed only when the contractuèl rlghts to the cash flow5 from the asset expl￿ or a settled. or when the tharlty transfers the flnancla1 asset and substantlally all of the rlsks and rewards of ownershlp io another entlty, or If some s18nlflcant rlsks and rewards of ownership are retalned tyut control of ihe asset has transferred to another partythat is able to sell the asset in its entiretyto an unrelated thlrd party. Oosslficatlon of flnJbKSal Il•bIl￿Se$ Flnancial liabilitle5 ènd equity instmments a￿ classFfied accordlne to the substance of the contractual arrangements entered Into. An equlty Instrument Is any ttsntrnct that evldentes a reslduèl Interest In the assels of the charity after deductln8all of its liabllities. 8•51¢fin0nclo1 Ilabllltles Bèsic financial liabilities, including trade and other payables and bank loans. are In￿allY recognlsed at transaction price un*ss the arraneemeni con$t￿uteS a flnancln8 transactlon where the debt Instrument Is measured at the present value of the future YeLelpts discounied ai è market rate of Interesi. Debt Instruments are subsequently carried at èmortlsed cost uslngthe effettive Interest rate method. Page 18 continued... GEORGE FENTHAM HAMPTON IN ARDEN CHARITY INCORPORATING GEORGE FENTHAM HAMPTON IN AROEN ENDOWED CHARITY NOTES TO THE FINANCIALSTATEMENYS- ¢ontlbwed FOR THE YEAR ENDEO 31 DECEMBER 2023 ACCOUNTING POLICIES- cont4Ned FINANaAL INSIRIIMENTS Tiade payables are obll8atlons to pay for 8otsds and servlces that have been acqulred in the ordinary Course of buslness from supp15ers. Accounts payable ère classffled as cur￿nt Ikbllltles If payment is due within one year or le55. ￿ not, they are presented as non ilue from the George Fentham Hampton In Arden Charlty to the Educatbnal Foundation tsf GeorBe FeTrtham. Famlly Car•Trust Mr D Adams, a trustee of the George Fentham Harnpton In Arden Charlty, also seryes as a member of 5enlor fflana8e￿nt at Famlly Care Trust, a charlty Incorporated In England and Wale5 Icornpany number 2982937, charlty nurnber 10450151. Durlng the year ended 31 Oecember 2023 seNlces totallln8 £EO12022.. £3.8401 We￿ supplled by the George Fentham Hampton In Arden Charlty to Famlly Care Trust. OPERAnNG LEASE COMMITMENTS-IESSOR At 31 December 2023 the charlty had contracted wlth tenants futurè mlnlmum lease. payment5 under non-cancellable 0￿ratIng leases as follows. 2023 2022 Wlthln ￿e year Between iwo and ffve year5 In more than five years 77.787 319,157 467,283 96,7B7 351.563 549.081 864227 997,431 Page 33