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2022-12-31-accounts

REGISTERED COMPANY NUMBER: 07112241 (England and Wales) REGISTERED CHARITY NUMBER: 1135262

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

THE FAVERSHAM SOCIETY (A COMPANY LIMITED BY GUARANTEE)

McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL

THE FAVERSHAM SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

Page
Report of the Trustees 1 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 19
Detailed Statement of Financial Activities 20 to 21

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Society is established for the public benefit for the following purpose in the area comprising Faversham and its surroundings , referred to as the "area of benefit".

i) to educate the public in the geography, history, natural history and architecture of the area of benefit.

ii) to secure the preservation, protection, development and improvement of features of historic or public interest in the area of benefit.

iii) to preserve for the people of the area and of the nation, the historic architecture and constructional heritage that may exist in the area of benefit in buildings (including any building defined in Section 336 of the Town & Country Planning Act 1990) of particular beauty or historical, architectural or constructional interest.

iv) to promote high standards of planning and architecture in or affecting the area of benefit.

Significant activities

The Society owns, maintains and operates a complex of buildings in Preston Street known collectively as the Fleur de Lis Heritage Centre. The complex contains:

The Society maintains, curates and staffs the Fleur de Lis Heritage Centre, the village museum at the Maison Dieu, Ospringe and the Chart Gunpowder Mills, the oldest of its kind in the world. On behalf of English Heritage it looks after the ruins of Stone Chapel, the only Christian place of worship in the UK to incorporate part of a pagan Roman shrine.

The Society produces a monthly newsletter that is available to members in hard copy, by email or through the website www.faversham.org under "clubs and societies".

The Society also publishes an annual review of all its activities, compiled from the written reports of those responsible for designated functions and activities e.g. the well regarded "Open House" and "Secret Garden" schemes, the Town Walks, the Museum, the work of the "Faversham Historians" and the Planning committee. This report is distributed to all members free of charge.

Page 1

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

OBJECTIVES AND ACTIVITIES

Public benefit

The Society is one of the largest and most active of its kind. It currently has 798 members (this number to be compared with a population of around 30,000) and is run entirely by volunteers. The Society continues to pursue the wide range of activities of earlier years, including the provision of help, advice and information to the general public

The Trustees confirm that they have complied with Section 4 of the Charities Act 2011 in having due regard for the Charity Commission's general guidance on public benefit.

Volunteers

The Society has no paid staff, and relies upon a large number of volunteers, who give generously of their time to enable the Society to achieve its aims and objectives.

Page 2

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities and future plans

Post Covid we have begun to rebuild our membership, reaching 800 by the end of 2022. We have recruited new volunteers and introduced volunteer coffee mornings. The town's mayor formally opened the new Faversham Society Visitor Information Centre and shop on Saturday, the 26th of February. The new Visitor Information Centre (VIC) creates an opportunity to promote our town's history and celebrate our heritage.

In March, we organised an exhibition on behalf of Faversham Museums Together to showcase Faversham's heritage. We use the word museum loosely to include anywhere with heritage that can be visited or viewed.

Our secondhand bookshop in Gatefield Lane closed on the 13th of August and re-opened on 20th of August in the former VIC space in the Fleur. We extensively refitted and refurbished the shop. Many architectural features were revealed and conserved. There were initial teething difficulties but by the end of the year most of these were resolved and our volunteers were mostly happy with their new premises.

Moving our visitor information centre and shop to 12 Market Place has substantially increased the prominence of the Faversham Society in the town and increased footfall. We benefit from being at the entrance to the Faversham Charters exhibition, and our volunteers are working harmoniously with those stewarding the exhibition. The new location for the bookshop on Preston Street has also increased footfall.

73 members attended the AGM. Work continued on succession planning with extensive discussions about how to restructure the Board so that the role of chair would become less demanding, essential to recruiting a new chair in due course. After the formal AGM business, we had two speakers: Dr David Rundle, a Renaissance historian and a paleographer, who talked about how the historians at the University of Kent see the opportunities to undertake research in Faversham. Angela Websdale, a Faversham resident, spoke about her PhD research on the Thomas Beckett Chapel in St Mary of Charity Church. Our relationships with the University of Kent and Canterbury Christ Church University are developing and Professor Catherine Richardson of the University of Kent gave a well-attended talk on Arden of Faversham in the Guildhall.

We celebrated our 60th anniversary with a tea party for our volunteers hosted in May at Doddington Place by our president, Richard Oldfield. In the autumn, we had two exhibitions to mark our 60th.

The collection of 60 Secret Treasures in the Fleur was a great success. The Society's exhibition chronicling our activities over six decades held first in the Alexander Centre and then in the exhibition space beside the Visitor Information Centre was appreciated by the many who saw it.

The museum has been mounting special exhibitions and with no entry fee now being charged, visitor numbers have improved. Lord Harris's gold ticket, part of the Society's collection, was taken to the BBC Antiques Road Show at Belmont House in August.

The reorganisation, with some refitting of the museum or Fleur de Lis Heritage Centre, is underway and our volunteers have been organising special openings and exhibitions.

The Faversham Society Archaeological Research Group has continued its extensive explorations around Ospringe, this year digging in Queens Court Farm.

Open Gardens was a spectacular success, with more than 1,200 paying visitors who came to enjoy the 30 gardens that were open. Thanks go to all those who opened their gardens and organised and staffed the event. Only through the efforts of our volunteers can events like this be organised. There are issues about insurance which need to be resolved.

Since Arthur Percival died in 2014, a small group of volunteers has been working on his Fleur de Lis archive. Arthur, a founder and director of the Faversham Society, had an extensive archive, comprising photographs, slides, glass plate negatives, correspondence, local history inquiries and written articles. Most of the archive relates to Faversham, but there are also records relating to other geographical areas and areas of interest that he had. Their initial work concentrated on digitising Arthur's glass plate negative collection from the 1890s. The volunteers have also digitised his black and white photograph collection and started on his more modern colour photographs which date from the 1970s to 2014. There are a vast number of photographs to be processed. They have digitised more than 3,500 images and more than 600 newspaper articles from his "Faversham Matters" series published in the Faversham News between 2004 and 2014.

Page 3

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The Society is placing more emphasis on its archive work. Our volunteers have more than 20,000 slides to digitise and catalogue and Arthur's written archive in over 200 lever arch folders and assorted boxes of papers. Many relate to local history and the late Margaret Harding made a great start cataloguing their contents to make them searchable on a computer. Arthur Percival's archive is placed online as it is digitised at www.arthurpercivalarchive.co.uk.

The newly formed society publications team has begun publishing high-quality pamphlets and books, the earlier cyclostyled and photocopied A4 Faversham Papers no longer sell. Faversham in 60 Objects was published to mark our 60th was a great success as is Faversham: A Brief History. The new publications are also for sale on our new online store on the website.

The Faversham Society hosted its first Wikipedia "editathon" in October. Only 1 in 8 of our members is under 60. We know that we must embrace the internet and virtual reality to reach a younger audience and the next generation.

The Faversham Society remains committed to ensuring public engagement in consultations about development and will organise meetings for any developer when asked. Through this newsletter, we will continue informing members of opportunities to attend consultations or express opinions by other means. The Society has made representations to consultations on the Water Resources South East (WRSE) and the Lower Thames crossing and major housing developments. For the first time, the Society has retained a planning barrister to strengthen our submission on Abbeyfields. By September 2022 there were 40 or so posts on Cleve Hill on our policy blog. We remain very concerned and active on the danger posed by Lithium-ion batteries.

2023 will see our work on planning continue, the Neighbourhood Plan will go to referendum and Swale is likely to start working again on the Local Plan. Planning applications will continue to come thick and fast.

As we enter 2023 the Board is taking steps to maintain a register of Board members' interests. The Society has organised a members' meeting to inform its response to the Reg 14 consultation on the Neighbourhood Plan. At the end of 2022 we heard that our efforts to secure a Conservation Area Appraisal had been successful.

The final stage of the "rehousing" of the Society's activities is underway as we focus on the Heritage Centre or museum. The Boston Room is to be relocated to the former gallery so that there is direct street access, the walls with still be available for paintings and photographs.

The Society's Heritage Centre or Museum is now one amongst a number. There is now the Kent Police Museum and the Charters in the town. The Town Council is expected shortly to have responsibility again for the Town Warehouse and a maritime heritage exhibition will likely be housed there and very likely a natural history centre. The Society is therefore organising a review of the existing collections in the Fleur to identify gaps and opportunities and ensure adequate space for temporary exhibitions.

The Society is also reviewing its library and archives of letters, reports, notes, memos, photographs, and other primary sources. We have a very large collection which we expect to grow with bequests. The Society will need in 2023, to formally review the relationship between the museum and the archives and the housing of the collections.

FINANCIAL REVIEW

Financial review

The Society has diverse revenue streams. Amongst the most significant are our second-hand bookshop (£26,416), VIC (£21,022), membership subscriptions (£9,567), flat rental (£6,799), Open Gardens (£6,520) and the VIC.

We are grateful to Swale Borough Council for the grant of £3,600 for the Visitor Information Centre which serves Swale.

The Society had a small trading loss on its 2022 accounts, occasioned largely by substantial expenditure on reorganisation and security costs.

Legacies are significant to the Faversham Society, not least as evidence of people's value of our work. Alan Swan recently left us his remarkable collection of Osborne Plaques along with a gift for insurance and any costs of display and storage. Jessie Wilbourn a former volunteer, remembered us in her will, and we received a donation from the Sir John Swire Charitable Trust. Mr and Mrs Pyatt were members from their arrival in Faversham in the 1970s. Mrs Pyatt's very substantial bequest will be ringfenced for a major project and acknowledged. The Society has also received a residual amount from Hilary Whelan's estate.

Page 4

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

FINANCIAL REVIEW

Reserves policy

The Trustees consider that an appropriate minimum level of free reserves should be an amount representing six months core expenditure. This allows some flexibility for the Society to deal with delays or withdrawal of funding, or unexpected additional costs. The level of free reserves (net current assets) at the balance sheet date is £734,107 exceed the minimum requirement, providing financial stability to enable the Society to carry out its aims and objectives.

Free reserves included £57,130 held for restricted purposes.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Society is a company limited by guarantee, as defined by the Companies Act 2006. Its governing document is its Memorandum and Articles of Association, dated 23 December 2009, as agreed by Special Resolutions on 24 February 2010 and amended by Special Resolution on 23 April 2014 and 13 April 2016.

The charitable company has no share capital, but under the terms of the Memorandum of Association, every member is liable to contribute a sum not exceeding £10 in the event of the company being wound up while he or she is a member, or within one year after he or she ceases to be a member, for the payment of the debts and liabilities of the company contracted before he or she ceased to be a member, and the costs, charges and expenses of winding up.

Recruitment and appointment of new trustees

The Society typically circulates an invitation to all members to nominate trustees prior to the AGM, advising them of the retiring trustees and requesting nominations for the AGM. From time to time, the Board also reviews whether there are any additional or specialist skills that would be beneficial to have on the Board; it then seeks to identify potential new trustees who will bring those skills and the Board may then appoint new trustees. New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the Society.

Organisational structure

The Society's governing body is the Board of Directors and Trustees, whose members are elected by the members of the Society. Trustees meet on average once per month. Any resolutions submitted to a meeting shall be decided by a majority vote of the trustees present at a meeting, but the chairman shall have a second or casting vote. Minutes are taken at each meeting, circulated to trustees along with action points and responsibilities, and kept as a record.

Risk review

The Trustees have a duty to identify and review risks to which the Society is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The following are the key risks deemed by the trustees to be facing the Society:

All risks are managed by monitoring by the trustees. Financial risk is monitored via the finance committee by means of a simplified presentation of management accounts for easier understanding by the Board.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

07112241 (England and Wales)

Registered Charity number

1135262

Page 5

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

Registered office

10-13 Preston Street FAVERSHAM Kent ME13 8NS

Trustees

K Begg J R Carey H Goodwin A J Holden B Kelsey S Kemsley (resigned 1.6.22) L McMahon D Melville A L Salmon T D Stonor J West H Wootton C C Wright M Hatchwell J Davidson (appointed 1.6.22) J L Secker (appointed 1.6.22)

Independent Examiner

Jonathan Fullarton BSc (Hons) FCA McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ H Goodwin - Trustee

Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FAVERSHAM SOCIETY

Independent examiner's report to the trustees of The Faversham Society ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Jonathan Fullarton BSc (Hons) FCA

McCabe Ford Williams Chartered Accountants Charlton House Dour Street DOVER Kent CT16 1BL

Date: .............................................

Page 7

THE FAVERSHAM SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Charitable activities
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Charitable activities
7
Charitable activities
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
493,208
22,641
34,016
7,338
557,203
111,121
446,082
735,157
1,181,239		 Restricted
funds
£
10,001
-
-
-
10,001
152
9,849
47,281
57,130		 31.12.22
Total
funds
£
503,209
22,641
34,016
7,338
567,204
111,273
455,931
782,438
1,238,369		 31.12.21
Total
funds
£
35,056
13,053
64,927
3,909
116,945
94,541
22,404
760,034
782,438

The notes form part of these financial statements

Page 8

THE FAVERSHAM SOCIETY

BALANCE SHEET 31 DECEMBER 2022

Notes
FIXED ASSETS
Tangible assets
13
CURRENT ASSETS
Stocks
14
Cash at bank
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.12.22
£
504,262
5,454
728,653
734,107
734,107
1,238,369
1,238,369
1,181,239
57,130
1,238,369		 31.12.21
£
509,146
5,950
267,342
273,292
273,292
782,438
782,438
735,157
47,281
782,438

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. H Goodwin - Trustee

The notes form part of these financial statements

Page 9

THE FAVERSHAM SOCIETY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.12.22
£
466,335
466,335
(5,563)
539
(5,024)
461,311
267,342
728,653		 31.12.21
£
23,108
23,108
-
66
66
23,174
244,168
267,342

The notes form part of these financial statements

Page 10

THE FAVERSHAM SOCIETY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease in stocks
Decrease in creditors
Net cash provided by operations		 31.12.22
£
455,931
10,447
(539)
496
-
466,335		 31.12.21
£
22,404
9,056
(66)
1,374
(9,660)
23,108

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.1.22
£		 Cash flow
At 31.12.22
£
£
Cash at bank 267,342 461,311
728,653
267,342 461,311
728,653
Total 267,342 461,311
728,653

The notes form part of these financial statements

Page 11

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1. GENERAL INFORMATION

The Faversham Society is a company limited by guarantee in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the Report of the Trustees of these financial statements. The nature of the charity's operations and principal activities are to educate the public in the geography, history, natural history and architecture in the Faversham and surrounding areas.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements do not include a cash flow statement on the basis that FRS 102 Section 1A is being applied.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The trustees are of the view that the charity holds sufficient reserves to fund activities for several years in the absence of any income, and so the going concern basis is appropriate.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

All grants, donations and legacies are accounted for gross when receivable.

Income from other charitable activities are accounted for when earned.

No amount is included in the financial statements for volunteer time in line with SORP (FRS 102). Further detail is given in the Report of the Trustees.

Expenditure and creditors

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Charitable activities comprise those costs incurred by the charity in the delivery of its activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the cost of preparing the annual accounts and independent examiners fee.

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

continued...

Page 12

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Tangible fixed assets Land and buildings - 2% on cost (buildings) and nil (land) Office equipment - 20% on cost

Stocks

Stock consists of publications and memorabilia and is valued at the lower of cost and net realisable value. No account has been taken of donated second hand book stocks at the year end.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Heritage assets

The Society holds a number of heritage assets which are not included on the balance sheet, being items held on display in the Fleur de Lis Heritage Centre. The trustees consider that the cost of valuing the assets would be onerous compared to the benefits. They are held for the benefit of the charity and are not likely to be realised for cash.

3. DONATIONS AND LEGACIES

Donations and gifts
Members subscriptions
Fundraising activities
4.
OTHER TRADING ACTIVITIES
Fundraising events
Visitors Information Centre		 31.12.22
£
483,976
9,567
9,666
503,209
31.12.22
£
26,416
7,600
34,016		 31.12.21
£
21,931
10,573
2,552
35,056
31.12.21
£
24,231
40,696
64,927

During the year the charitable company received £7,600 (2021 - £40,696) in local government grants.

continued...

Page 13

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

5. INVESTMENT INCOME

Rents received
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Shop sales and commission
Charitable activities
Museum admissions
Charitable activities
Hall hire and car park rental
Charitable activities
7.
CHARITABLE ACTIVITIES COSTS
Charitable activities
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Water rates
Insurance
Electricity and gas
Photocopying and stationery
Postage and telephone
Advertising and promotions
Repairs and maintenance
Books, gifts, etc
Conservation and acquisition
Safety and security
Faversham outreach		 Direct
Costs (see
note 8)
£
97,260		 31.12.22
£
6,799
539
7,338
31.12.22
£
21,022
1,139
480
22,641
Support
costs (see
note 9)
£
14,013
31.12.22
£
498
13,251
5,803
2,340
3,480
1,907
52,339
7,394
895
1,764
7,589
97,260		 31.12.21
£
3,843
66
3,909
31.12.21
£
12,032
61
960
13,053
Totals
£
111,273
31.12.21
£
3,053
11,185
6,615
2,486
2,750
2,384
43,736
3,399
562
3,651
2,187
82,008

continued...

Page 14

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

9. SUPPORT COSTS

----- Start of picture text -----
|||||| |---|---|---|---|---| |Governance| |Finance|Other|costs|Totals| |£|£|£|£| |Charitable activities|1,370|10,447|2,196|14,013|

----- End of picture text -----

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |31.12.22|31.12.21| |£|£| |Depreciation - owned assets|10,447|9,056| |Independent examiners fee|1,472|1,248| |Legal fees|724|-|

----- End of picture text -----

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Restricted|Total| |funds|funds|funds| |£|£|£| |INCOME AND ENDOWMENTS FROM| |-| |Donations and legacies|35,056|35,056| |Charitable activities| |Charitable activities|13,053|-|13,053| |-| |Other trading activities|64,927|64,927| |Investment income|3,909|-|3,909| |Total|116,945|-|116,945| |EXPENDITURE ON| |Charitable activities| |Charitable activities|94,368|173|94,541| |NET INCOME/(EXPENDITURE)|22,577|(173)|22,404| |RECONCILIATION OF FUNDS| |Total funds brought forward|712,580|47,454|760,034| |TOTAL FUNDS CARRIED FORWARD|735,157|47,281|782,438|

----- End of picture text -----

continued...

Page 15

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

13. TANGIBLE FIXED ASSETS

COST
At 1 January 2022
Additions
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021		 Land and
buildings
£
617,827
-
617,827
108,681
9,056
117,737
500,090
509,146		 Office
equipment
£
8,686
5,563
14,249
8,686
1,391
10,077
4,172
-		 Totals
£
626,513
5,563
632,076
117,367
10,447
127,814
504,262
509,146

Land with a market value of £165,000 is not depreciated.

Property held for investment purposes forms part of the building capitalised and held for charitable purposes. The investment property component has not been shown separately as the fair value of the component cannot be measured reliably without undue cost or effort.

14. STOCKS

Stocks
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
£
Fixed assets
504,262
Current assets
676,977
1,181,239		 Restricted
funds
£
-
57,130
57,130		 31.12.22
£
5,454
31.12.22
Total
funds
£
504,262
734,107
1,238,369		 31.12.21
£
5,950
31.12.21
Total
funds
£
509,146
273,292
782,438

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

continued...

Page 16

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property Restoration fund
Legacies fund
Restricted funds
Arden's House
Land Fund
Arthur Percival Memorial
Museum Fund
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
Restricted funds
Arthur Percival Memorial
Museum Fund
TOTAL FUNDS		 At 1.1.22
£
687,949
47,208
-
735,157
371
46,075
835
-
47,281
782,438
s follows:		 Net
movement
in funds
£
446,082
-
-
446,082
-
-
(98)
9,947
9,849
455,931
Incoming
resources
£
557,203
-
10,001
10,001
567,204		 Transfers
between
At
funds
31.12.22
£
£
(470,229)
663,802
-
47,208
470,229
470,229
-
1,181,239
-
371
-
46,075
-
737
-
9,947
-
57,130
-
1,238,369
Resources
Movement
expended
in funds
£
£
(111,121)
446,082
(98)
(98)
(54)
9,947
(152)
9,849
(111,273)
455,931

continued...

Page 17

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.1.21
£
Unrestricted funds
General fund
660,102
Property Restoration fund
52,478
712,580
Restricted funds
Arden's House
371
Land Fund
46,075
Arthur Percival Memorial
1,008
47,454
TOTAL FUNDS
760,034
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
98,945
Property Restoration fund
-
Legacies fund
18,000
116,945
Restricted funds
Arthur Percival Memorial
-
TOTAL FUNDS
116,945		 Net
movement
At
in funds
31.12.21
£
£
27,847
687,949
(5,270)
47,208
22,577
735,157
-
371
-
46,075
(173)
835
(173)
47,281
22,404
782,438
Resources
Movement
expended
in funds
£
£
(71,098)
27,847
(5,270)
(5,270)
(18,000)
-
(94,368)
22,577
(173)
(173)
(94,541)
22,404

Restricted funds

The Arden's House fund was set up to provide for the prevention of deterioration to the fabric of Arden's House.

The Land fund was set up to preserve for posterity selected sites within the Faversham area.

The Arthur Percival Memorial fund is a fund set up in memory of the late Arthur Percival, to preserve the archives of the late Arthur Percival for active use in the Society's educational programme.

The Museum Fund comprises of a legacy received in the year and will be used for the preservation and display of the Osborn plaque collection and to preserve free entry to the museum with donation boxes for visitors.

Designated funds

Property maintenance fund is to prevent the deterioration of the properties.

The Legacies fund comprises legacies received by the charity which are designated by the trustees for a particular purpose. During the year two legacies were received and designated for future use yet to be considered.

continued...

Page 18

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2022.

Page 19

THE FAVERSHAM SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations and gifts 483,976 21,931
Members subscriptions 9,567 10,573
Fundraising activities 9,666 2,552
Other trading activities 503,209 35,056
Fundraising events 26,416 24,231
Visitors Information Centre 7,600 40,696
Investment income 34,016 64,927
Rents received 6,799 3,843
Deposit account interest 539 66
Charitable activities 7,338 3,909
Shop sales and commission 21,022 12,032
Museum admissions 1,139 61
Hall hire and car park rental 480 960
22,641 13,053
Total incoming resources 567,204 116,945
EXPENDITURE
Charitable activities
Water rates 498 3,053
Insurance 13,251 11,185
Electricity and gas 5,803 6,615
Photocopying and stationery 2,340 2,486
Postage and telephone 3,480 2,750
Advertising and promotions 1,907 2,384
Repairs and maintenance 52,339 43,736
Books, gifts, etc 7,394 3,399
Conservation and acquisition 895 562
Safety and security 1,764 3,651
Faversham outreach 7,589 2,187
97,260 82,008
Support costs
Finance
Bank charges 1,370 398

This page does not form part of the statutory financial statements

Page 20

THE FAVERSHAM SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

31.12.22 31.12.21
£ £
Finance
Other
Sundry expenses - 1,581
Buildings depreciation 9,056 9,056
Office equipment depreciation 1,391 -
Governance costs 10,447 10,637
Independent examiner's fees 1,472 1,248
Legal fees 724 250
2,196 1,498
Total resources expended 111,273 94,541
Net income 455,931 22,404

This page does not form part of the statutory financial statements

Page 21