2023-12-31-accounts - The Faversham Municipal Charities 2010

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			Notes	2023	2023	2023	2022
				Restricted	Unrestricted	Total	Total
				6			6
Turnover					349,805	349,805	319,975
Operating costs
Direct costs					(328,649)	(328,649)	(251,402)
Support costs Operating (deficit)/surplus				(273) ~23 ~273	(70,530) ~399179 ~49374	(70,803) ~399452 ~49 647	(71,272) ~322 67 ~2000
Other income
Donations and legacies			2	25,000	482	25,482	548
Interest receivable	and other income		4	4,861	33,793	38,654	48,091
Gains on investment	disposals		17	169,438	1,186,795	1,356,233	101,766
				199299	1 221 070	1420 369	15D405
Other expenditure
Interest payable			14		(16,347)	(16,347)	(16,495)
Investment management		expenses	5	(1,190)	(7,770)	(8,960)	(9,864)
Grants payable			6	-	(3,815)	(3,815)	(25,071)
Governance costs			10	(650)	(11,101)	(11,751)	(12,989)
(Deficit)/Surplus	for the year			197186	111327663	113291849	83,287
Unrealised gains/(losses) on investments			17	~250 245	~2202 021	~2260 266	+4429 061
Total comprehensive		income/
(expenditure) forthe		year		38 941	30 642	69 583	~345 774
behalf ofthgerustees:
,14)., 7k Drrrr5/
H 5Simmons,	Chairman			Mr I N Coulter, Vice Chairman

			Revenue	Designated	Restricted
			Reserves	Reserves	Funds	Total
			0		6	6
Balance	at 13anuary 2022		2,840,174	426,916	264,394	3,531,484
Surplus /	(deficit) from statement	of
comprehensive
income			83,988	17,071	(17,772)	83,287
Unrealised	(losses) / gains on investments		(269,526)	(123,337)	(36,198)	(429,061)
			2,654,636	320,650	210,424	3,185,710
Transfers	between funds		54,688	(54,688)
Balance	at 31December 2022		2709 324	265 962	21D424	3 18571D
Balance	at 13anuary 2023		2,709,324	265,962	210,424	3,185,710
Surplus /	(deficit) from statement	of
comprehensive income			1,185,667	(53,004)	197,186	1,329,849
Unrealised	(losses) / gains on investments		(1,033,357)	(68,664)	(158,245)	(1,260,266)
			2,861,634	1447294	249,365	3,255,297
Transfers	between funds		(244,937)	274,187	(29,250)
Balance	at 31December 2023		2,616697	418481	220,115	3,255 293

T	HE FAVERSHAM M	HE FAVERSHAM M	UNICIPAL C	HARITIES 20	10
	STATEMENT OF		FINANCIAL	POSITION
	AS AT YEAR	ENDED 31DECEMBER 2023
		Notes		2023		2022
			6	6		6
Fixed assets
Tangible fixed assets		16		2,322,660		2,219,597
Investments		17		1,575,500		1,811,087
				3,898,160		4,030,684
Current assets
Trade and other debtors		18	390,159		210,165
Cash and cash equivalents		27	171,398		169,664
			561,557		379,829
Creditors: amounts	falling due
within one year		19	(55,329)		(52,313)
Net current assets				506,228		327,516
Total assets less current liabilities				4,404,388		4,358,200
Creditors: amounts	falling due
after more than one	year	20		(1,149,095)		(1,172,490)
Total net assets				3 255 293		3,1857 0
Reserves		24
Revenue reserve				2,616,697		2,709,324
Designated reserves				418,480		265,962
Resti.icted reserves				220,116		210,424
				3255 293		3 105710

				2023	2022
				6
Net cash generated from operating		activities		(247,256)	(182,446)
Cash flow from investing	activities
Dividends, interest and rents from investments				38,654	48,091
Purchase oftangible fixed assets				(119,672)	(16,535)
Proceeds from sales of investments				1,869,699	173,000
Purchase of investments				(1,538,145)	(11.955)
				250 536	192 601
Cash flow from financing	activities
Repayment of borrowlngs				(1,547) ~2547	(1,411) ~24
Net change in cash and	cash equivalents			1,734	8,744
Cash and cash equivalents	at the beginning		ofthe year	169,664	160,920
Cash and cash equivalents	at the end of	the	year	171395	169664

residual	value, over their exp	ected useful lives
Freehold	Property	50years
Fixtures	and fittings	25 years
Roofs		80years
Bathrooms		25 years
Kitchens		25 years
Boilers		20 years

						Restricted	Unrestricted	Total	Total
						funds	funds	funds	funds
						2023	2023	2023	2022
						E		E	E
Weekly	maintenance			contributions			377,042	377,042	351,067
Less: losses from			voids				(48,950)	(48,950)	(52,805)
							328,092	328,092	298,262
Social housing		grant		utilised			21,713	21,713	21,713
							349865	3 9605	319975
Tots/2022							379975	329,975
Accommodation			in	management
								2023	2022
Housing	for older		people		in need			69	69

			Restricted	Restricted	Unrestricted	Total		Total
			funds		funds	funds		funds
			2023		2023	2023		2022
			E		f.	E		E
Local	listed investments		4,711		30,762	35,473		47,5'18
Local	investment	properties			17		17		17
Local	cash			150	3,014	3,164			526
			4	861	33793	38	654	48	091
Total	2022		5	802	42289	48	092

				Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds
				2023	2023	2023	2022
				E	E	E	E
Investment	management	fees		1,190	7,770	8,960	9,864
				1 190	7 77D	8 96D	9864
To/a/2022				1,168	8698	986
6.Analysis	ofgrants
				Grants to	Grants to
				Individuals	Institutions	Total	Total
				2023	2023	2023	2022
				E	E	E
Almshouse	85Chapel Branch
Relief in Need Branch				1,495		1,495
Education Branch The Faversham Heritage		Fund	85 Henry	2,320		2,320	3,071
Hatch Charity							22,000
Recreation	Branch
				3815		3 815	25 971
Tots/2022				22000	3071	25071

						Restricted	Restricted	Unrestricted	Total	Total
						funds		funds	funds	funds
						2023		2023	2023	2022
						E			E	E
Almshouse	83 Chapel		Branch					414,903	414,903	338,205
Relief in Need		Branch						1,747	1,747	282
Education	Branch							2,579	2,579	34346
The Faversham		Heritage		Fund	86 Henry
Hatch Charity							273		273	22,292
Recreation	Branch							112	112	115
							223	4 93 1	9614	3642 9
To/al 2022						22	292	342,934	391244

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			Restdicted	Unrestricted	Total	Total
			funds	funds	funds	funds
			2023	2023	2023	2022
			E		E
Auditor's	remuneration		571	8,879	9,450	9,120
Legal 8r	professional	fees		1,636	1,636	3,120
Trustee	indemnity	insurance	79	586	665		749
			650	11101	11751	12	989
Total2022			991	12,999	12,999

		Staff			Other
		costs	Depreciation		costs	Total	Total
		2023	2023		2023	2023	2022
		6					6
Investment	management
fees					8,960	8,960	9,864
Costs of raising funds					~8960	~8960	~9864
Almshouse	85 Chapel
Branch		98,024	16,609		300,270	414,903	338,205
Relief in Need Branch					1,747	1,747	282
Education Branch The Faversham					2,579	2,579	3,346
Heritage Fund 8
Henry Hatch
Charity					273	273	22,292
Recreation	Branch				112	112	115
Charitable	activities	90024	16	6D9	3DD 901	419614	364 240
Expenditure	on governance				11,751	11,751	12,989
		90D24	16	6D9	325 692	0 325	387093
Total2022		~102173	13390		271530	3B7093
12.Net income / (expenditure)
				2023		2022
				6			8
Auditor's remuneration					9,450		9,120
Depreciation					16,609		13,390

13.Staffcosts
	2023		2022
	6		6
Wages and salaries		93,141		96,597
Social security costs		2,674		3,608
Pension costs		2,209		1,968
		98024		102 173

ng the year was	as follows:
2023	2022
No.	No.

Scheme	Manager (Part time)
Caretaker	and cleaner
Administration

	Freehold	Fixtures	Fixtures
	property	and	fittings	Total
	2023	2023		2023
	6		6	6
Cost or valuation
At 1January 2023	2,967,086		270,437	3,237,523
Additions			119,672	119,672
Disposals	(162,654)			(162,654)
At 31December 2023	2 804 432		390109	3 194541
Depreciation
At 1January 2023	957,736		60,190	1,017,926
Charge for the year	2,995		13,614	16,609
Depreciation on disposals	(162,654)			(162,654)
At 31 December 2023	790 077		738D4	871 881
Net book value
At 31December 2023	2 006355		316 3D5	2322 660
At 31December 2022	7009350,		270,242	22197592

17.Investments	F	OR TH	E YEAR ENDED 31DECE	MBER 2023	MBER 2023
				2023		2022
				6		6
IPS Growth Portfolio —0 units (2022 —128,839.04)						257,420
IPS High Yield Income Portfolio —0 units (2022—
1,497,856.35)						1,393,006
ICVC High Income 85	Emerging Market -511,403.87 units
(2022 —0)					416,641
ICVC Global Investment Bond Fund			—618,153.44
units (2022 —0)					528,336
ICVC Global Sovereign	Bond Fund —54,860.59
units(2022 —0)					49,375
Vanguard Global Corporate		Bond Fund —1,826.78 units (2022
—0)					153,098
iShares Iapan Equity	Fund	—18,678.37 units (2022
—0)					19,247
Schroders US Equity Income Fund —16,251.50
units (2022 —0)					11,140
SPW UK Equity Income Fund -90,530.60 units
(2022 —0)					146,750
SPW Asia Global Emerging		Market	-29,105.16
units (2022 —0)					23,855
SPW 3apanese Equity	Fund	—7,915.15 units (2022
—0)					8,873
SPW North American	Equity	Fund —69,144.16units
(2022 —0)					81,521
SPW Global Real Estate Fund —45,055.74 units
(2022 —0)					85,921
Charities Investment	Fund	ERFScheme —204.61 units (2022—
728.99)					50,743	160,661
				1575 500		1011087
The cost of investments at		31 December 2023 is as follows:
IPS Growth Portfolio						177,929
IPS High Yield Income Portfolio						1,628,247
ICVC High Income 85	Emerging Market				384,320
ICVC Global Investment Bond Fund					488,804
ICVC Global Sovereign	Bond Fund				46,714
Vanguard Global Corporate		Bond Fund			142,584
iShares Iapan Equity	Fund				18,494
Schroders US Equity Income Fund					10,900
SPW UK Equity Income Fund					140,141
SPW Asia Global Emerging		Market			23,357
SPW )apanese Equity	Fund				8,564
SPW North American	Equity	Fund			77,856
SPW Global Real Estate Fund					77,856
Charities Investment	Fund	ERFScheme			16,097	57,350
				1	435 607	1063 517

			2023	2022
			6	6
Balance	brought	forward	2,558	2,857
Released	in year		(2,558)	(2,857)
Deferred	during	the year	4,653	2,558
Balance	carried forward		4,653	2,558
22.Deferred grants
			2023	2022
				6
Balance	brought	forward	1,020,481	1,042,194
Released	in year		(21,713)	(21,713)
Balance	carried forward		998,768	1020,481

23.Loans
		2023	2022
		6
Due within Due within	1 Year 1-2Years	1,546 1,550	1,411 1,550
Due within	2-5 Years	4,750	4,750
Due in & 5	Years	165,740	167,422
Balance carried forward		173586	175 133

24.Statement	offunds
Statement of	funds - current	year
	Balance					Balance
	at 1	Income	Expenditure	Transfers	Gains/	at 31
	3anuary 2023			In/out	(Losses)	December 2023
Designated
funds
Cyclical
maintenance
fund	78,453		(125,427)	119,010		72,036
Emergency
repair fund	160,660		(7,925)	(113,675)	11,682	50,742
Housing
redevelopment
fund Roof repair	1,849					1,913
fund	25,000					25,000
Roof phase 1
fund	265 962		~233352	260788 274 107	11682	268788 418 400
General
funds
General funds	27690,469	375,820	(297,305)	(226,589)	54,110	2,596,506
Education
branch	5,256	3,972	(4,082)	(7,945)	9,145	6,345
Recreation
branch	3,541	825	(418)	(4,313)	1,863	1,498
Relief in need
branch	10,058 2075286	3,463 384000	(3056) ~438213	(67090) 29 25D	7973 84 773	12,348 3 035 177
Restricted
funds
Organ
maintenance
fund Faversham	3,550					3,550
Heritage fund
and HH Charity Roof repair	206,874 210424	4,861 25,000 29061	(2,112) ~2222	(4,250) (25,000) ~29 250	11,193 11193	216,566 220 116
Total of funds	3105»D	4139 1	~440 325		95,066	3 255,293

Year
		Balance					Balance
		at 1	Income	Expenditure	Transfers	Gains/	at 31
		3anuary 2022			In/out	(Losses)	December 2022
		E					6
Designated
funds
Cyclical
maintenance	fund	57,882		(50,123)	70,694		78,453
Emergency repair
fund		197,371		(27,440)	7,440	(16,711)	160,660
Housing
redevelopment
fund		146,663			(132,822)	(11,992)	1,849
Roof repair fund		25,000					25,000
		476916		~77,563	~54 688	~28 7D3	265962
General funds
General funds Education branch		2,832,264 1,525	352,821 4,734	(277,568) (5,107)	(13,707) 32,948	(203,341) (28,844)	2,690,469 5,256
Recreation branch		2,195	965	(474)	6,737	(5,882)	3,541
Relief in need
branch		4,190	4,148	(1,819)	28,710	(25,171)	10,058
		3 267 090	362 668	~362531		~291941	2975286
Restricted funds
Organ
maintenance fund The Faversham		3,518		(112)			3,550
Heritage fund	and
Henry Hatch Charity		260,876	5,802	(24,451)		(35,353)	206,874
		264 394	5946	~24 553		~35 353	210424
Total offunds		3 531484	360614	~387094		~327 294	3 105710

Summary	offunds - Current Year	offunds - Current Year
		Balance at 1	Income	Expenditure	Transfers	Gains/	Balance at 31
		3anuary 2023	6	I	In/out	(Losses) I	December 2023I
		265,962 2,709,322	384,080	(133,352) (304,861)	274,187 (244,937)	11,682 73,091	418,480 2,616,697
5 8 iC d(	d	2 975 286 2(D,424	384 080 29,861	~438 213 (2,112)	29 25D (2925D)	84773 11,193	3 D35 177 220,116
		3185710	413 941	440 325		95966	3255 293
Summary	offunds —Prior Year
		Balance					Balance
		at 1	Income	Expenditure	Transfers	Gains/	at31
		Ianuary			In/out	(Losses)	December
		2022					2022
							6
Designated	funds	426,916		(77,562)	(54,688)	(28,703)	265,962
General funds		278407172	362,668	(284,967)	54,688	(263,239)	2,709,322
		3267 D88	36 668	362 530		~292942	29 5284
Restricted funds		264,394	5,946	(24,563)		(35,353)	210,425
		3531,482	368614	387093		~327,295	3 185709

			Restricted	Unrestr icted	Total
			funds	funds	funds
			2023	2023	2023
			6		6
Tangible	fixed assets			2,322,660	2,322,660
Fixed asset investments			202,488	1,373,012	1,575,500
Current	assets		17,628	543,929	561,557
Creditors	due within	one year		(55,329)	(55,329)
Creditors	due within	more than one year		(1,149,095)	(1,149,095)
			220 115	3 030927	3255,293
Analysis	ofnet assets between funds - prior year
			Restricted	Unrestricted	Total
			funds	funds	funds
			2022	2022	2022
			6		6
Tangible	fixed assets			2,219,597	2,219,597
Fixed asset invesiments			195,411	1,615,676	1,811,087
Current assets			15,014	364,815	379,829
Creditors	due within	one year		(52,313)	(52,313)
Creditors	due within	more than one year		(1,172,490)	(1,172,490)
			2 0425	2,975 85	3,185,7 0

					2023	2022
						6
Net income/(expenditure)		for the	year		69,583	(345,774)
Adjustments for:
Depreciation charges					16,609	13,390
(Gains)/losses on investments					(95,967)	327,295
Dividends, interest and rents from			investments		(38,654)	(48,091)
Loss on the sale offixed		assets
(increase) / decrease	in	debtors			(179,994)	(109,175)
(Decrease) / increase	in	creditors			(18,833)	(20,091)
Net cash (used in) / by operating			activities		~247 266	~162446
Analysis ofnet debt
				At 1		At 31
				3anuary		December
				2023	Cash flows	2023
				6	6	6
Cash at bank and in hand				169,664	1,734	171,398
Debt due after I year				(173,722)	1,682	(172,040)
Debt due within 1 year				(1,411)	(135)	(1,546)
				(5,469)	3,281	(2,188)
27.Analysis ofcash	and cash		equivalents
					2023	2022
					6	f.
Cash in hand					171,398	169,664

At the 31 December 2023 the Charity had future agreements as follows:	incoming resources from non-canceila	bie lease
	2023	2022
	E	E
Within one year	1	1
Between one and two years	1	1
Between two and five years	3	3
More than five years	33	34
	36	37