##
##
#
##
##
##
##
##
##
##
##
##
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##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
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##
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##
##
##
##
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##
##
##
##
##
##
##
##
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##
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##
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##
##
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##
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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|
##
##
##