REPORT ofi THE TRUSTEI F.S AND FINANCIAL STATEI MENTS FOR THE YEAR ENDED 315¢ JULY 2024 FOR THE TAPPFNDEN CHARITY (A Charitable CompaY Limited by Guorantee) Company Number . 05892698 Registered Charity Number . 1129037 Hcntons Stag House Old London Road Hertford Herts SG13 7LA
THE TAPPENDEN CHARITY A Cliaritable Com lJltnite(I b Guarntee C()] Niiinbcr: 051492698 CONTENTS UF'I'HL filNANCIAL STATfi MEINTS FOR THE YIIAR ENDED 31st JULY 2024 Page Company Information Report of the Trustees Report of the Independent Examiner Statement of Finaii¢ial Activities Balan¢e Sheet Notes to the Financial Statements
Tllf TAI'I)[I NDEN CHAIlI'rY {A Charitablc Compjny LiiiiileJ by G'uarantee) COMPANY INf<()RMATION FOR THE YF.AR fi NDFD 31st JULY 2024 DIRECTORsrrRUSTEEI S: A C Hayllar D C Osborn R M Plorwood CRETARY: R S Gainbles REGISTfi,RED OFFICE: Tlie Maltings 63 High Street Ware Hertfordshire SG12 9AD REGISTEREI D NUMBER,. 05892698 (England and Wales) CHARITY NUMBEII: 1129037 INDEPFNDII NT EXAMINER: S W Hudson ACA Hentons Chartered Accountants & Statutory Auditors Stag Housc Old London Road Hertford Hei'tfordshire. SG13 7LA REGSSTBRED AUDITORS Page I
THE TAI'I)EI NDEN CHARITY (A Chdrilable Company Liinited by Guai'anleL') (Company Niimber: 05892698) (Registei'ed Office: The Maltings, 63 High street, Ware, Hertfordsliire, SG12 9AD) TRUSTEI Ei S, Rfi.PORT FOR THE YEAII ENDED 31 JULY 2024 oses of Section S of the Chai'ities Act 2011 and DircLtoi%' Re Section 417 of the Com nies Act 2006 For the ort for the ur oses of The Triistees have pleasure in siibinitting theii. Aniiual Rcpoi'l and Finaiicial Statements foi. tlic yeai. ended 315t July 2024. The financial statemeiits comply with tlie Charilies Act 201 I, tl)e CoinpaTJies Acl 2006, the Cliarity's Meinoi'anduin and Articles of Association ai)d Ilie Chariti¢$ statement of Recommended Pi'a¢tice (applicable to cl)ai'ities prepai'iiig their accoiiiits in accordaiicc witli Ilie Financial Reporting Standard applicable in the UK and Republic of IIEland. FRS 102) issued iii Octobei. 2019. TRUSTEI ES The Trustees, who al'e also Dii'eclors of tlie Company? aiid acted Iliioughout the period are.. A C Hayllar D C Osborn R M Horwood CONSTITUTION The Tappenden Charity? Company i)umber 05892698, is a Company limited by the gliarantees of the meinbers to a Inaximuin of £10 eacli and was incoi'porated on l* Aiigusl 2006. The Coinpany is a IEgistered charity, number 1129037 and gained charitable status on 7, April 2010. INVESTMENT POWERS Under the Me]norandum and Articles of Association, the Charity has the power to make any invcstinents, in the same mannei. as the Trustees of a trust are permitted to do so by the Trustee Act 2000. COMPANY OBJECTIVES The objects of the Company as stated in tl)e Memoi'ai)duin and Aiticles of Association are: l) In this clause"Charity' means any putpose which is exclusively cl)ai'itable according to the law of England and Wale5 and any institution whetl)er corporate oi. not (ii)cliiding trust or undertaking) wl)i¢h is established for purposes which are exclusively charitable according to the law of England and Wales and 'Charities" has a coi'l'esponding Ineaning. 2) The Charity Trustees shall pay income of the charitable fund to such charity or charities and if more than one ii) such share or shares and in such Inaiinci. gcnerally as the Chai'ity Ti'ustees shall iii their absolute discretion Iliink fil provided that until the expii'ation of the period ofiwenty one years the Charity Ti'iistees shall havc power to acciimiilate the wliole or any part of such income by inve51ing Il)e saine and the I'esulting incoin¢ thei'eof iii any manner hei'eby authoris¢d so that any acciimulation so made shall forn an accretion to tlie capital from which such income arose for all purposes. 3) Nolwiilislanding the foregoing trust of income the Charity Ti'ustees shall have power at anytiine or tiine5 to pay transfer or apply the whole or any part or parts of the capital of the Cl)arilable Fund to oi. foi. tlie benefit of such cliarity or chai'ities iii sucl) shares if more than one and in such manner generally as the Chai'ily Ti'u5tees shall in their absolutc disci'¢lion think fit. Page 2
THE TAPPEI NDEI N CHARITY (A Charitable Coiiii)any Limite(I by C711arantee) (Compiiny Nuinbcr: 05892698) TRUSI'EI F.S' REI I>ORT- Coiitinued FORI'HE YEI AR II Nl)F.D 31JI JULY 2024 ACHIEVEMEI NT AND PEI RFORMANCE During the year ui)der I'eview Il)e Cliai'itable Company continued its progi2rnme of mainteiiance and rcfurbishment of ils freehold inveslinenl pi'operties. During tlie year the Cliarity made donations tolalling £4,000 to commuiiily establishinenls. Tl)e Charity has I'eferred to the guidanec contained iii the Cliarity Coininission's general guidance on public bcncfit wheii reviewing its aims and objectives and planning its futui'e activities. ORGANISATIONAL STRUCTURE Tlie board of Trustees meets regularly lo administ¢T the Charity and Trustees are appointed in accoi'dance with the Compaiiy's Memoi'andiim aiid Articles of Associatioii. The numbei. of Trustees shall not be les5 than thi'ee bul (uiiless otherwise determined by ordinary resolutioii) shall not be subject to a Tnaximum. New Trustees will be provided with the Memorandum and Articles of Association, tlie most receiit financial statcincnls and the Ininutes of previous Trustecs meetings. In addition, n¢w Ti'ustees will be asked to fainiliarise tlieinselves on the duties and the I'espY)iisibilities of Trustees as provided in guidance notes issued by the cliaTlty commissioii. FJNATr4CIAL REVIEW Total iiicome foi. th¢ year amountcd to £198,347 (2023 £173,347) including £173,909 (2023 £170,876) from rental income on ils investsnent properties. After allowing for total expcnditure of £129,607 (2023 £147.824), the ChaTily achieved a surplus for the year after revaluation of investment properties of £199,924 (2023= £21,613). PLANS FOR THE FUTUR The Trustees plans for the future are to achieve a position whei'e the property portfolio is fully let, providing an incicased level of investment in¢ome to the ¢harity enabling a higher level of charitable support to Community. Educational and Mcdical research causes. RISK MANAGEMENT The Ti'ustees have considered and continu¢ to considei. the major I'isks to which the Charity is exposed and air satisfied that systems air in place to mitigate those risks. RESF,RVES POLICY The Ti'ustees will seek to biiild sustainable unresti'i¢ted reserves to a level sufficient to provide f5nan¢ial stability and meet ai)y Cxceptional expenditure. Page 3
THF. TAPPENDEN CIIARITY (A Charitnblc Company Liiniled by Giiarantee) (Compxny Numbci.: 05892698) TIIUS'I'IL fi.S' IIEI'ORT- Contiiiiied FOR THE YEAR FNDEI D 31" JULY 2024 TRUSTEI ES? REI SPONSIBILITIES Thc Triisle¢s (who are also directors of The Tappenden Chai'ily foi. tlie piii'poses of company law) arc respoi)sible foi. pi'eparing tlie Trust¢es' Aiiniial Repoi'l and the financial slaleineiits in accordance witli applicable law and United Kingdom Accounting Standai'd8 (United Kingdoin Genei'ally Accepted Accouiiling Practice}. Company law require5 the Triistees to prepare financial statements foi. each fiiiaiicial year wl)icli giv¢ a ti'ue and fair view of tlie state of affaii's of the Chai'ilablc Company and of the iiicomiiig resources and application of I'esources, incliiding tl)e incoine and expenditiii'c, of the Charitable Compaiiy for that period. In pi'eparing these financial slalements, the Trustees are I'equiied to.. select suitable accounting polici and theii apply thein consistently> observe tlio Tnetl)ods and priiiciplcs in the Charities SORP. Inake judgments and accounting estimates that are reasoiiable and prudent.
stale whether appliLable UK Accounting Standards hav¢ been followed, subject to any matei'ial departures disclos¢d and explained in the financial 5tal¢ments- and prepar¢ the financial statem¢nts on the going concei'n basis unless il is ii)appropriate to presLime that the Charitable Company will continue in business. Tl)e Triistees are responsible for keepiiig adequate accouTJting records that di%close with I'easonable accuracy at any lime the financial po.%ition of the Cht¢rilable Company aiid enable thein to ¢nsure that the financial 5tal¢mentS Coinply with the Companies Act 2006. They al'e also responsible foi. safeb)Iiai'ding the a55ets of the Charitable Coinpany aiid hence for taking r¢asonable steps for the prevention and detection of fraud and other IrgU[al.11jes. Tliis report has bccn prepared in accoi'dance with the special pi'ovisions of pait 15 of the Coinpaiiies Act relating to small companies SIGN4 D ON BEHALF OF THE TRUSTEES R S Gambles- Secretary . Page 4
INDLPLNI)I,:N'l' f4 XAMINLI Il's RF.PORT 'ro i'llE I-IIUb'l'LI,:S OFTHEI'APVC4NDF.N CHARITY {A Cl)arit#l)le Company Limite(I by Giiarantcc) I report to the Trustees (who are also Diirclors for the purpose of conipany law) on rny examination of th¢ financial statcinent5 of The Tappcnden Charity I'the chai'ilable toiiipaiiy'l for tlie yeai. ended 31. July 2024 which comprise the Statement of Financial Activities. tlie Balance Sheet aiid Tel3l¢d notcs. Tliis i'epoi'l is niade solely to tlie cliai'ity's TTU%tees, as a body. in accordance with Se¢tion 145 of tlie Charities Act 2011. My WOTk lias been iiiidertakeii so tliat T iiiittlit state to tlle cl)arity's Twstees thosc rnatle15 1 am requii'ed 10 51ate lo Ihcm in this report aiid for no other purpose. To thc fullesl extejil peiThitted by law, I do iiot accept oi. assiime restK)nsibility to anyone otlicr tlian the Cliai'ity and the cliarity's Tru5tee5 as a bL)dy, foi. Iny WOTk, for this report. or for the opinion5 1 have fonned. Re5ponsibillties And bA515 of report As the Trustees of a eliaritable coinpany you are reSnSible for thc PTeparation of the financial stateinents in accordance with ilie i'equiirilleiits of the Coinpaiiies Act 20061'tlic 2006 A¢t'l. Having satisfied myself that the financial statements of the Gharilable company are not i'equired to be audited iindei. Part 16 of the Aci aiid are eligible for independent examiiiation. I repoi't in respect of rny exaniination of the charitable compaiiy's firtancial stateinenls cai'ried out uiider sectioii 145 of the Cliai'ities Act 2Q I l {'the 201 l Act'l aiid iii cariyiiig out my exainination I have followed all Ihe applicable DiTe¢lions given by the Charity Commission under section 145(51{b) of the 2011 Acl. An iiidependent exarniiiatioii does not involve gathering all the evidence that would be required in an audit and Lx>nsequently does not covei. all the matters that an auditor considers in givijig tlieir opinion on tlie finaiicial statemcnts. The platining and conduct of an audit goes beyoi)d the limited assiirance that an independent exainination cali provide. Consequently l expiess no opinioll as to wliether the financial slatements pi'eseiit a 'lrue and fair, vie1¥ aiid my rcpoi1 is liinited to those specifsc Imatters set out iji tlie independent exaiiiinei"8 Stateiiieiit. Indepeijdent txamiiier 5 Statenient I have completed my exainination. I confirm tliat no material mattcTS have con)e to my attention in cot]nection with the examination giving nie cau%e to believe that in any matcrial respe¢t'. accountiiig records werc not kept in respect of the charitable company as required by Section 386 of the 2006 Act,. or
the financial statements do not accord with those record5,' or the financial statcment5 do not mplY witli the a¢¢ounting requiTernents of section 396 of the 2006 Act other thali any I'equii'ejiieiit tliat tlie financial statement5 give a 'true and fair view wliicl) is not a matlei. considered as part of an independent examination. or the fjnancial staternents have not been pi'epared in accor(lance willi Ilie Jiielhods Jnd principle5 of the Statement of Recommended Practice for a¢count&ng and reporting by charities applicable to Charities preparing their accounts sn a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of ITeland (FRS 102). I have no concerns and have come 8¢ross no other matters in connection with the exaTnination to which attention should be diawn in this report in order to enable a proper understanding of the financial statements to be reached. JON" S. W. Hudson ACA Henlons Chai'lered Accoulltatlts and Statutory Auditors Stag House Old London Road Hertfoi"d Herls. SG13 7LA IS" J(lThV( 2ozg P8ge 5
THE TAPPENDEN CHARITY (A Charitble Company Limited by Cuai'antce) (Compiny NiiTnbLr: 05892C?98) STATF.Mfi.NT or r<lNANCIAL ACTIVITICI S (Iiicorpoi-ating the Incoiiie Ei xpenditure Account) FOR THE YEAR ENDED 31st JULY 2024 UnT¢slriGtEd Gcncral Total Total riinds ole 31.07.24 INCOME Investment Income 176,276 176,276 173,086 Other incoming i'esources: Interest in¢ome Legd¢y income 31 22,040 31 22,040 250 Tot&1 Ineome 198 347 198347 173 347 EXPENDITURE Charitable activities 129,607 129,607 147,824 Total Expenditure 129 607 129607 147 824 Net inco¢ for the year before gAÉiisl{105se51 on investments 68,740 68,740 25.523 IY¢t Gains l(Losses)on investments 131,184 131,184 13,910} Net iijcome for the year aTtd net movement in fiiTrd5 199,924 199,924 21.613 Re¢oneili4tion of funds: Total funds brought forward 2 755 429 2 755 429 2733 816 TotAI funds eai'ried fonvard 2.955.353 2,955J53 2,755,429 The Statement of financial Activities includes all gains and losses reco8nised in the period None of the company's activities were aequii'ed or discontinued during the CUL'rent OJ. PlEceding year. The notes on pages 8 to 15 form part of these financial statements Page 6
THE TAPPF.NDEN CHARITY (A Ch%britable Company Limitc(I by Guarantee) (Conipany NIiTnbei': 05892698) BALANCL SHTr:ET AS A'r 31st JULY 2024 31.07.24 31.07.23 Notes rilXCI D ASSETS: Tangible fixed assets Illve5tinenis- Inve5tmenl piDpertie5 107 3.490,001 65.000 3,555,108 134 3,350,501 136,180 3,486,815 10 CURRENT ASSF.TS: Debtors Cash at bank 8.842 21,969 3,095 30,811 19,612 CREDITORS: Amounts falling due within one year 12 90,942 150653 NET CURRfi,NT (LIAIIILITIES): 160.1311 (131,041) TOTAL ASSEITS LESS CURRENT LIAIIILITIES.. 3,494,977 3,355.774 CREDITORS: Amounts falling due after one year 13 539 624 600 345 TOTAL NET ASSETS 2.955,353 2 755 429 General fund- Unrestricted 2.955J53 2 755 429 TOTAL CHARITY FUNDS 2 955.353 2 755,429 The Compally is entitled to exemption from audit Ullder Section 477 of the Companies Act 2006 for the year ended 31 July 2024. The members have not required the Compatjy to obtain an audit of its financial statements for the year et]ded 31 July 2024 in accordan¢e with SeGtion 476 of the Companies A¢t 2006. The Directors acknowledg¢ thcir responsibilitlC5 for.. lal ensuring that thc Company keeps accounting records which comply with SeGtions 386 and 387 of the Companies Act 2Q06 and {b) preparing fJtLan¢ial slaten)¢Dls which give a ti'ue and faiT view of the state of affairs of the Company as at the end of each fjnancial year aiid of its profit or1055 for each financial year in accordance willi the requirenieiits of Sections 394 and 395 and which otlieiivi5e comply with the requirements of the Companies Act 2006 relating to financial statemeiit5. so far as applicable to the Company. These financial statenients have been prepared in a¢cordance with the provisions applicable to ¢haritable companies subject to the small companies regime. ON BEFIALF OFTH TRusfEES.. R M Horwood A C Hayllar Autliorised for issue by the Trustee5 on The notes on pages 8 10 15 forni part of these financial statements Page 7
THLI'APPIINDb:N CIIARI'I'Y (A Charitable Con]pAny Limite(I by C7lllll'lllltee) (Coiiipaiiy Niiiknber: 05892698) NOTII S TO THE FINANCIAL ST ATfi MEI NTS FOR THE YEAR ENDfi D 31st JULY 2024 ACCOUNTING POLICIES Basis of preparatioii and assessment of going eoneern The finan¢ial stateinents liave been prepai¢d in accordance with the Chai'itie5.' Stateinent of Recomineiided Practice (applicable to charities pr¢parii)g theii. accounts iii accoi'dan¢c with the Fiinancial Rcporting Standard applicable iii the UK and Repiiblic of Ii'eland (FIIS 102)) lilIed in Oclobei. 2019) (Charities SORI, {FRS 102)), the Financial Reportiiig Slandai'd applicabl¢ in the UK and Republic of Iirland (frRS 102) aDd the Companies Act 2006. The Charity constitutes a public entity as defined by PRS102. The Trustees liave a reasonable expeetation that the Charity will have adequate resources to coi)lii)ue in opei'alioiial existence foi. the foreseeable fiitiire. In making this assessment the Triistees have considered a pei'iod of twelve Jnoiitlis from the date of the financial statements b¢ing aLilhorised for issue. Th¢ Charity therefore continues to adopt the going coiicei'ii basis in pirparing its financial statements. Judgement5 and Iiey source5 of estimation uncertsinty Tlie preparation of the financial statem¢nts requires management to mak¢ judgements, estsinates aiid assumptions tl)at affect tlie ainounts reported foi. asscls and liabilities as at the balaiice Sheet dale and the ainounts I'eported foi. reveiiucs ai)d expenses dui'iiig the year. The i)atiii'e of estimation means that actual outcomes could diffei. froin those estimates. The following judgements have had a significant effect on ainounls recognised in Ihe financial statements.. The TrLIStCC5 make jiidgemenls in estimating the fair valiie of its investment properties held at the balance sheet, with ¢hanges in fail. value being I'ecogiiiscd in pi'ofit oi. Ios5. The Charity has entered into commei'cial property leases as a lessor on it5 iiiveslment property portfolio. The classification of siich leases as opei'ating or finance leases requiirs the Charity lo detei'mine, based on an evaluation of the lems and conditions of the ai'iaiigeincnts, whethei. it retains the I'isks and rewai'ds of ownersliip of these assets and accordingly whcther the lease requires an asset and liability to b¢ recognised in th¢ statements of financial position. Page 8
THE TAPPEINDEI N CIIARITY (A Churilable Cuinpany Limited by Guarantee) (Coinpaiiy NiiRnbcr.' 05892698) NOTES TO THE FINANCIAL STATEI MENTS riOR THE YFAII ENDII D 31st JULY 2024 ACCOUNTINC POLICIES- eonlinlled Incoming Reeognition Iiicome is recogiiised wlien the chai'ity l)as entitleinent to the funds, ai)y ¢onditions atta¢hed to the itein5 of iiicome liave been met, it is pi'obable that the income will be I'eceived and the amount can be Ineasured reliably. Income I'eceived ii) advanec of a piyjvision of other specified seivice is deferred iintil the criteria for incoine reeognilion al'e Inet. Investmeilt iiicoine, including rent from coinmercial and r¢sid¢iitial pioperties, is recow)ised on a receivable basis. Expenditure and Irrecoverable VAT Expenditure is recognised once there is a legal oi. QOT)Striiotiv¢ obligation to Inake a payinei)t to a thii'd party, it is probable that seiileinenl will bc I'equiird and the amount of the obligation can be measured reliably. Expci)diture is classified uiider the following: Chai'ilable activities is expendilui"e associated with the Cliai'ity's investment pi'opei'ty Inanagement and donations to benefi¢iai'i¢s. Both the direct costs and support I govei'nance costs relating lo these activities arc included. Fund Aecounting Funds l)eld by the Charity are iinrestricted general funds, which can be us¢d in a¢¢oi'dan¢e with the chai'itable objectives of the Charitable Company at the discretion of the Triistees. Tangible Fixed Assets Fixed assets below a cost value of £500 are not capitalised. Depreciation Depreciation is pi'ovided at the following annual rates in order to write off each asset over its estimated useful life. Fixture and fittings 20 % on reduciiig balance Investments Investment properties al'e properties held to eam rentals an(Voi' for capital appreciation. Invcstment pi'oper(ies al'e initially measured #t probalc value oi. c05t. includiiig traiisaction costs. Subsequently investment properties al'e included in the balance she¢l at Ih¢ii' fail. value. Investment propeities are valued on an aiinual b8sis with any gains and 1055cs ai'i5ing from changes in the fair valiie of investment properties bcing iiicluded in profit or loss iii the period in which they arise. Oihei. investment5 are Aitworks and Antiques bequeati)ed to the Charity and are cai'ried at probate value. Debtors Trade and other debtois are I'ecognised at tlie settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any tradc discounts due. Page 9
THE T APPEI NDEN CHARITY (A charit.lhle Company Limited by Guarantec) (Coniparty Number: 05892698) NOTEI S TO TI.IE fiINANCIAL STAI'EMfi NTS FOR THE AR ENDED 31st JULY 2024 ACCOUNTINC POLICIFS- continued Ca.4h at bank and In hand Casli at baiik ai)d casli in hand includes casli and short tei'm highly liquid investinents tliat al'e ieadily convertible to known ainounls of cash and are subject to an insignificant i'isk to changes in value. Creditors and provisions Ci'edilors and provisions are i.ecolSed where the charity has a PlEs¢nt obligation resuliing fro]n a past event that will probably result in tl)e Irai)sfer of funds to a third paity and the amount due to settle the obligalion can be Ineasured or estimated I'eliably. Ciyditors aiid piDvisioiis are normally recogiiised al tlieii. settlement aTnoiint after allowing for any trade discounts due. Finaneial in5trument$ The Charitable Coinpany only has financial assets and financial liabilities of a kiiid that qualify as basic fiiiaiicitil i1trutnelitS. Basic financial insti'iiinents ai'¢ initially recognised at transaction value and subsequcntly Ineasui'ed al theii. settlement value with the exception of bank loans wliich are subsequently Ineasured at amoitised cost using the effectivc interest inethod. Limited by Guai'xntce The Company is limited without Share capital. Iii the event of the Company being wound UP> each meTnber is liable to contribute to the payment of debis and liabilities of the Company as may be required, not exceeding £10. INVESTMEI NT INCOME 31.07.24 31.07.23 Investmeiit propeities.. Rents receivable Conti'ibutions re¢eived from Tenants toward5 property costs 173,909 2,367 176 276 170,876 2,210 173,086 Page 10
THE TAPPFNDEN CHARJTY (A chai.1tble Compaiiy Limiteil hy CTuMrantee) (Coinpaiiy Number.. 058926911) NOTES TO fHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st JULY 2024 ANALYSIS ofi CIIARITABLE EI XP£I NDITURE The chai'ity undei'takes its cl)aritable activitie5 tlu'ougli graiit making aiid donations awairled to institutioits in fiirih¢i'an¢e of ils ¢haritable objectives. No grants oi. donations were Inade to individuals in the year: Grant ri lliided Activities 2024 Siipport and Governxnee C05ts 2024 Total 2024 Total 2023 Fundeil from unrestricted funds: Community 4,000 125,607 129,607 147,824 4,000 125,607 129 607 147,824 Grant funded activities in 2023 to Educational eslablishinents amounted to £2,500 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The breakdown of support costs and how these are were allocated between governance and general support costs al'e shown in the table below. All costs are allocated on a actual basis apart fi'om tl)e adminisli'alion support costs provided by the secretary which are allocated oil an estimated basis in favour of gencral support as a result of thc s¢ci'¢lary's continued projecl manageinent of the i'efui'bishinent of the chai'ity's investinent propei'lies. CTeneral Support Costs Governance Cost$ Total 2024 Total 2023 2024 2024 Legal and professional Repails and mainlenan¢e costs Independent examination fee Insuiance Rates, light and heat costs Geiiei'al office costs Bank charges and loan fees Bank loan interest Otlicr loaii inlcrest Depi'eciation Admiiiislralion ¢osts Sundries 10,961 30,571 10,961 30,571 5,400 9019 4,589 961 225 50,822 2,679 27 9,500 553 125,607 6,850 57,038 5,196 8,762 9,609 935 255 42.492 3,070 13 10.770 314 145,324 5,400 9,319 4,589 961 225 50,822 2,679 27 9,500 553 120,207 5.400 Governance costs in 2023 amounted to £5,196. Page I I
THEI TAPPF.NDEN CHARITY (A Charitablc Coillpany Limite(I by Gunrantee) (Coinpaiiy Niimber: 05892698) NOTES TO TFIE filNANCIAL STATEMENTS FOR THF. YEAR ENDCI D 31st JULY 2024 GAINSI(LOSSES) ON INVESTMENTS 31.07.24 31.07.23 Impairment of other investments Gain on rev21uation of Invcstment propeities Gain/(Ioss) on disposal of Othei. Investments (3,910) 139,500 (8,316) 131 184 TURNOVER The turnover and surplus before taxation are attributable to the one principal activity of the Coinpany. OPERATING SURPLUS The operating SLirplus is stated after charging.. 31.07.24 31.07.23 Ii)d¢pendent Examination fee 5,400 5,196 TAXATIOP4 The Coinpany's activities fall Linder the exemption given by tlie Inland Revenu¢ to chai'ities, consequently no liability to UK Corporation Tax l)as arisen on the oNiinai'y activities of the Company for the year ended 31. July 2024 or preceding period endcd 31. July 2023. Page12
THI TAPPENDEN CHAIIITY (A Chai-itable Company lJimitLI(I by Cuarajjtee) (Coiiipi?ny Numbcr: 05892698) NOTES TO THr. rilNANCIAL STATEI MEI NTS FOR THE YEAR ENDEI D 31st JULY 2024 IIXED ASSF.TS Fixtures & Fittings Total Cost Al I, Aiigust 2023 Additions DisP05als At 31" July 2024 2,350 2,350 2,350 2,350 Deprceiation At I, Augu812023 Chargc for year At 31. July 2024 2,216 27 2,243 2,216 27 2,243 Net Book VRlue5 At 3191 July 2024 107 107 Al 3131 July 2023 134 134 Page 13
THE TAPPEI NDEI N CHARITY (A Charitnble Company LimKte(I by Cuai'Antee) (Company Number.. 05892698) NOTEI S TO I'HE PINANCIAL STATEI MENTS FOR THI YEAR NDCI D 31st JULY 2024 INVEI STMENTS Investment Properties Other Investments 2024 2023 2024 2023 As at I. August 2023 Additions in the year Dispos21s in the year Revaluations Impaiment 3J50,501 3,350,501 136,180 140,090 {71,180) 139,500 (3,910) As at 31. July 2024 3 490 001 3 350,501 136,180 Inve51inent properties coinprise commercial and Tcsidential propei'ties which were bequeathed at probate value to Il)e Chai'ily and an additional iiivestincnl property purchased at cost all of which have been subject to a pr0aTllTne of refurbishment ovei. i'ecent years. The Investment properties are considered by the Tn]stees to be included at fair value as at 3151 July 2024 as supported by recent indepeiideiit valuations. Other investments are a collection of antiques bequeathed to the Charity wl)ich the Trustees consider the histoi'ical signifIcance classifies the collection as Ait Works and Antiques and al'e in¢liided at probate value. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.07.24 31.07.23 Prepayments and a¢¢rued income 3,095 3,095 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.07.24 31.07.23 Accrua15 and defei'red income Othei. creditors Other loans Bank loans 26,987 2,500 931 31,073 2,500 61,551 55,529 150,653 Deferred income included above of £17,500 (2023: £17,139) relates to rental InMe re¢eived in advance. Page14
THE TAppfi NDEN CHARITY (A Charitable Compi?ny Limiteil by Giiarantcc) (Coiiipany Niiinber.. OS892698) NOTfS TO THE TrINANCIAL STATEMENTS FOR THE YEIAR ENDED 31st.JULY 2024 CREIDITORS: AMOUNTS FALLING DUE AFTEI R ONE YEAR 31.07.24 31.07.23 Bank loaiis due in oli¢ to two years Bank loans diie in two to five years Bank loaiis due in mole Ihan five years by instalments 65,027 59,661 205,U87 193,122 269,510 347 562 539,624 600,345 Bank Ioai)S T¢payable by instalineiits on a vai'iable basis from 2.850/0- 3.050/0 ovei. the bank base rat¢ foi. varying terms between 12-15 y¢ars and are secuied by cl)arges on freehold investment property owned by the Chai'itable Company. Governinent assistance was pIDvided in 2021 in the form of a bounce back loan of £35,000 pi'ovided at an intei'est Tate of 2.50/0 over 6 years. Tliis loan iiicluded a 12- moiith period in which the intei'est payable was covei'ed by the UK Governments Busii)e55 Iiitci'wption Payment and no capital repayments were made during this pei'iod. 14. RELATED PARTY DISCLOSURES No Triistee received any reinunei'ation from the Charitable Company in the current or preceding period. Key manag¢menl personnel received £8.000 (2023: £7,700) for adinii)istration support provided to th¢ Chai'itable Coinpany in the period. A relation of key manageTnent personnel received £NIL {2023.. £750) for repails aiid maiiitenance services provided to the Charitable Company in the period. Key Inanagement petsonnel paid £3,000 (2023: £NIL) to the Charity for the piirchase of legacy items bequeathed to the Cliarity. Interest on a loan made to the Chai'itable Company by key manageinent P¢Tsoiial was Chaed at 50/0 amounting to £2,679 (2023- £3,070). As at 31 ¥ Jiily 2024 Loan aiid interest due to key management personal ainount to £931 (2023.. £61,551). During the year, R M Hoi'wood a Ti'iistee was reimbui'sed £6,606 (2023: £NIL) by payment lo a third ptY for legal and profc5$5onal services provided to the Charstable Company. During the ycar, D C OsboiTh a Trustee paid £2,434 (2023: £NIL) to the Charity for the purchase of good5 included in otlier investments. During the year Rental incoine received of £20,000 (2023.. £20,000), Legaey income receiv¢d £320 (2023.. £NIL) aiid payillenl of £1,500 (2023= £1,440) foi. adniii)istralion supp()rt, were made to Mode Lighting Limited an entity in which A C Hayllar. a Ti'u5tee, has sigiiificant influence. Page 15
THF. T APPENDEN CHARITY (A Charitable Company Limitc(I by Guaraiitee) (CoIiii)aiiy Number.. O589269ti) NOTES TO THE FIINANCIAL STATEMENTS FOR THE YEAR F.NDED 31st JULY 2024 15. OPEI RA'I'ING Lll ASE COMMITIVIEI NTS RCI CFIVABL 31.07.24 31.07.23 Not later Ih8n one year Later thali one yeai. but iiot later than five years 72,027 110 720 79,835 176,080 182 747 255,915 Page 16