Ch•rlty number: 1161717 FRIMLEY FUEL ALLOTMENTS CIO Report An•ndal 5tstem¢nts For the yr 31 O•<•mb•r 2023 Efflfflaus Chartered Attountants 3TI-399 london Road Camberley Surrev GU15 3HL
FRIMLEY FUEL ALLOTMENTS CIO Flnandal Statements for the year ended 31 December 2023 Cont•nts P•ps Report of the Trustees Independent Examinerfs report Statement of Financial Activitles Statement of Flnanclal Posltlon Notes formlni part of the Flnancial Slatements 10-18 Detalled Statement of Pfofit and Loss 19
FRIMLEY FUEL ALLOTMENTS CIO Report of the Trustees for the year ended 31 December 2023 2023 Trustees Report: 4 The Trustees present their report with the Financial Statements of the charlty for the year ended 31 December 2023. 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 IFRS 102 published March 2018- effective l Jan 20191. OWEcfivES AND ACTIVITIES Objectives and aims The relief, either individually or generally. of persons resident in the Parish of Frlmley as constltuted In 1903, who are in conditions of need. hardship and distress. Grantmakin8 Grants are made to qualifying applicants in an •mount that the Trustee5 deem to be reasonable. after having made appropriate enquiries. Consistency of evaluation is applied to similar cases and io help in thi5, the Charity has maintained a database recording all grants given since 1986. This database Is reglstered under the Data Protection Act IRe8lStration No A80971061. Trustees continue to respond to cases brought to their attention. both by direct application to the Grant5 Administrator and by recommendation from ICal organisations. Grant m?kin8 guidelines and the adminlstrative process protocol were l)oth revised in 2019 and have 51nce been revlewed and updated. Applicants art Usually visited by a Tntee before the grant 15 made. though during the Covid lockdown, most assessments were made by phone. During the year. all but a handfijl of applications were processed and responded to within 3 weeks. An overall review is conducted at the following meeting of Trustees. Durin8 the year 20 Group Grants totalling £102,656, 120 Personal Grants totalling £81,128 and 31 Heating Grants totalling £5,877 We distributed 12022.. 22 Group Grants iotslling £59.762. 122 Personal Grants totallin8 £66.859 and 20 Heatin8 Grants totalling E2.9861. ACHIEVEMENT AND PERFORMANCE Charitable activities It is our intention to invest only as much of our income as is necessary to ensure good governance. efflclent administration and good tommunitation, maximi2in8 the funds available for grants to local individuals and community organisations. In 2023. grants to individuals rose by 25% and group grants by 72% compared with the previous year which was affected by the residual effects of the Covid pandemic. No 8rant applications fulfillin8 the charits guelIneS were rejected on grounds of unaffordabilitv. In 2023, in keeping with due dili8ence. we reviewed our source of investment advice and early in 2024 we approved the transfer of our investments to altemative Inve5tmenl Managers with good perfomance records. Staff terms and conditions of employment were reviewed and agreed changes were implemented. We also established a Trustee tommittee to explore firture option5 for use of the Charltls fvnds. This group is expected to report durin8 the course of 2024.
FRIMLEY FUEL ALLOTMENTS CIO Report of the Trustees for the year ended 31 December 2023 Since expenditure 0118rants for carpeting for new tenants of Housin8 Association propertie5 accounts for significant element of indNidual grants. a review of supply arrnngements was undertaken with the result that the Birch Carpets of Frimley High street was apPoInted as the Charity's supplier. On both price and service, the company provides excellent quality. During the course of the year. replacement of the Esso Pipeline through the chari5 estate was completed. At the same time. we took the opportunity to update and renew all signage on the estate. Having reviewed the Charity Commission's Guidance on Public Benefit. Trustees a Satisfied that the required criteria have been met as 81% of the yearfs expenditure12022.. 75%) was distrlbuted to members of the public that qualified for support within the terms of the Governing Schemes and l%12022: 3%) of expenditure was spent on maintaining the perimeter estate of the Charitys property so that it could main open safely for public enjoyment. To Improve awareness of its adivitles and availability. maintain a websile and Facebook pa8e, wlth statlstlcs on traffic daia confim)In8 it Is reathing a wide audience. Wlth the continued help of local volunteers. work was undertaken to m•intain in reasonable conditlon those parts of the estate not leased to third partie5, to allow continued enjoyment of the facility by the local community. Twice yearly, all or8anisations recei¥in8 8rants in the preceding six-month period are Invited to join an event pickin8 litter and cleaning up the woodland. A good response also including local users of the estate is always assured. Investment perfomiante Brewin Dolphin provide professional investmeni advice and management for the Charltvs Investments portfolio. which 15 made up of both unre5tricied and Pennanent Endowment funds. The Charlty accumulates and reinvests the cash derived from its income into its Investment Portfollo. Dudn8 the year, the Charity was able to invest a further £23.581 12022.. E22.2911 into Unrestricted Funds wlth Brewln Dolphin. All grants are made by BACS or cheque crossed IIC Payee and the dividend Income and any surplus Is accumulaied in the tash balances held in the Charitvs investments portfolio. FINANCIAL REVIEW Flnanclal posltlon The total income for the year was £246,937 Includin8 £24.071 of accumulated investment Income12022'. £248,382), with a gain on investments of £15.351 12022.. net loss £50.6981. The total expendlture on the unrestricted fvnd was £232,639 12022.. £172.7131 whKh. after allowing for a transfer to the Permanent Endowment fund of £22,169 12022: £Nill resulted in a surplus for the year on the unrestricted fund of £7,48012022.' surplus £24,971). The balance carried fofward on the unrestricted fund is £712,74412022: £705.2641. The was an increase in the Value of investments in the restrbcted fvnd of £29.799 12022: decrease of £98,414) and costs in the year of £nil12022= £nill leawng a surplus of £51,96812022.. deficit of £98,414) after transfer from the unrestricted fund. The balance on the restricted fund at 31 December 2023 15 £3,240.62512022- £3,188.6571- The Tnjstees have valued the land owned by the charity with the assistance of professional advisers, at a value of £2,750.C(O. this was last done in 2018. The Trustees a of the view that the value has not changed materially since then. The total reser4es carried forward at 31 December 2023 w*re as shown in note 17 to the flnanclal Statements12022- £3,893.9211.
FRIMLEY FUEL ALLOTMENTS CIO Report of the Trustees for the year ended 31 December 2023 Reserves policy The Trustees continue to gard the funds that have arisen from the sale of parts of the estate and any capital payment5 in consideration of granting a lease in any part of the estate. as restricted funds within the Permanent Endowment. Such capital sums have been and continue to be invested in approved funds to generate long term income for the benefit of wtentièl applicants. One yearfs average income is held in reserves in order to meet the financial needs of the charity. It IS the present policy of Trustees to distribute income to qualifyin8 applicants as c105e a5 pSible to that received in the year, after payment of essential expenses. In recent years, the Charity has produced annual surpluses and is exploring ways of potentially extendin8 its reach within Surrey Heath. to meet thls objective. FUTURE DEVELOPMENTS The charity wll continue to give access to its unleased woodland to l¢xal people for thelr qulet and peaceable enjoyment. Durin8 the Pandemic. this facility was of even greater value to local people for exercise and refShMent. The chafity is nevertheless conscious that the land with whlth It has been entrusted 15 first and foremost an asset to be used for the benefit of those Individuals and households In the former Frimley Urban Oistrict Council area Inow defined as post codes GU15 and GU161 experfencln8 poverty, hardship and distress. The charity will continue to ensure thai it fulfils its obligation to get the best return from the land for its intended beneficianes. It is the intention of the Trustees to continue to provide grants to persons and organisations who quallfy for financial assistance, wiihin the constraints of estIn8 Unrestricted Funds and future income. In addition, the Trustees will èctivefy promote its abilFty to help those in need. hardship and distress in the local area to ensure that it uses TOUrCeS under it5 management to best effect. sTRUURE. GOVERNANCE AND MANAGEMENT Governlng documents Schemes of the Charity Cornmlsslon of 19th January 1983. 4th November 1987, 15th Aprll 1993 and 18th September 2WI. Charlty constitutlon The charity is a Charitable Incorporated organi110n registered with the Charity Commlss4on in England and Wales under reference 1161717. From 1st January 2016 the charity acqui all the assets, liabilities and undertakings of Frimley Fuel Ajlotments Charity, an unincorporated charity re8iStered with the Charlty Commi55i0n, number 231036. The Charivs Constitution was l$ed and updated oft 12 October 2022. Recruitment and appointment of new Trustees Four Councillor Trustee5 a nominated by Surrey Heath Borough cncIl and four further Trustees are Incumbents of four local Churches. each of whom may appoint an alternate to act for them. A maximum of eight but no less than three further Tnjstees are apwinted from local residents who have special knowledge andlor experience to assist in the work of the Charity. Appointments are confirmed by the Trustees in 8eneral meetin8.
FRIMLEY FUEL ALLOTMENTS CIO Report of the Trustees for the year ended 31 December 2023 Organisational structure During 2023, the were significant changes in the ChariVs staffing and OT8anisational structure. Richard Moule. who had served us as Clerk Treasurer for nearty a decade. resigned in April. Followin8 his departure, we revie our financial Sttu and en8a8ed Emmaus A£countin8 to manage our bookkeepin8 and payment pr(Kesyn8. Darren Bateman joined u5 initially as a pro b(0 financial consultant and svbsequently joined the board as Treasurer Trustee. At around the same time, Fiona Dawkins, who had been Grants Administrator since 2018. left to join the staff of an associated local Chartty. Phlllppa Kerr provided excellent temporary cover until Suzy Roberts took up the post in September. We are much Indebted to the years of ser¥ice Richard and Fiona gave to the Charity. Shortly after the start of the year. we bade farewell to two long serving and artNe Trustees. William Flemln8 resigned In January and Frnnk Smtthin. vkno in his time had sep4ed as treaSur and actin8 Chair. retired in Febfuary. Both were Truslees who have 8rven selflessly to the local community through their Service to the Charity and we celebrate their contributions. Trustees glve thelr tlme wlthout remuneration. and none chim expenses of office. There was a further chan8e in April when John Ray rellnquished hls fole as Mlnutes Secretary. John had fulfilled thi5 role with professionalism and aood humour for several years and we record our thanks to hlm. The Charity also remains indebted to Tony Higham whose eommttffnt and Pfofessional expertise In estates management 5afe8uards the Charitys intestS without cost. The Trustees meet on a regular basis to assess grant applications and to consKler apwoprlate levels of asslstance In each case. Risk management The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate Controls are In place to provide reasonable assurance against fraud and error. Most of the Chariws income is dependent upon the revenues of the 8olfin8 aCti¥itles of the major lessee. The malor rlsk to income Is any si8nificant reductlon in the market for that comparfs service& The Charity has reviewed and revised its risk management policy durin8 2022.
FRIMLEY FUEL ALLOTMENTS CIO Report of the Trustees for the year ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DAll5 Registered Charity number 1161717 Principal address High Cross Church Knoll Road Camberley Surrev GU15 3SY Truslees Simon Strachan- Chalr Darren Bateman- from March 2024 Rodney Bates Sarah Croke- until May 2023 William Flemin8- until January 2023 Mary Glauert-from May 2023 Mary Keys Rob Lee- from May 2023 Lewis Mears- from May 2023 Jane Oxford Gurr- from April until No¥ember 2023 David Parker Mike Paterson David Penny- from April 2023 until March 2024 Robin Perry- until May 2023 Joanne Polter Morgan Rise- until May 2023 Murray Rowlands- from May 2023 Salma Sams Frank Smithin- until February 2023 Graham Tapper- until May 2023 Maryann Thomson Damon Walker Treasurer Richard Moule- until April 2023 Darren 8ateman- from March 2024 Financial Consultant Dar Bateman- from August 2023 until March 2024 Grants Administrator Fiona Dawkins- until April 2023 Philippa Kerr- May- September 2023 Suzy Roberts- from September 2023
FRIMLEY FUEL ALLOTMENTS ao Report of the Trustees for the year ended 31 December 2023 Independent examiner Emmau5 Chartered Accountants 377-399 London Road. CambeeY GU15 3HL Solicitors Field Seymour Parke5 LLP l London St, Reading RG14PN Bankers Lloyds Bank 18 Prince of Wales Walk Camberley Surrey GU15 3SJ Surveyors Gascoignes 2 Glllinsham House Pannells Court Guildford Surrey GUI 4EU Advlsers- Honorary Appolntees Dr Christa Rohde- wildlife and woodland ct)nseryation Mr J A Hl8ham- land and estate management Investment Advisors Brewin Ddphin 12 Smithfield St London ECIA 98D lo Approved by order of the board of Trustees ........... . and si8ned on Its behalf by.. S Strachan- Chaimian of Trustees
FRIMLEY FUEL ALLOTMENTS CIO Independent examlnerfs report to the Trustees of Frlmlerf Fuel Allotments cio I report to the Trustees on my examination of the accounts of Frimley Fuel Allotments CIO I'the CIUI for the year ended 31 Oecember 2023. Responslbllltles and bas15 of roport As the charity Trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the charits Act 20111.the ACVI. I report in respect of my examination of the CKYS accounts carried out under sertion 145 of the 2011 Act and In carrying out my examination I have followed all of the applicable Dirertions 8iven by the Charity Commlsslon Lbnder section 14515}Ibl of the Act. Independefit examlnerfs ststernent I have completed my examination. I confirm that no material matters have come to my attention In Connection with the examination 8iving me cause to believe that in any material respect: accounting records were not kept in respert of the CIO as required by section 130 of the Act,. or the accounts do not accord with those records.. or the accounts do not comply with the applicable records concernin8 the form and content of accounts set out in the Charities IAccounts and Reports) Re8ulations 2(K)8 other than ony requirement that the accounts give a 'true and fairf vlew which is not a matter considered as part of an independent examination. 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 understandin8 of the accounts to be reached. Sarah Shearer FCA Emmaus Chartered Accouniants 377-399 London Road Camberley Surrey GU15 3HL Date 17/i/l¢
FRIMLEY FUEL ALLOTMENTS CIO Statement of Finandal ActlvEtles for the year ended 31 December 2023 (Incorporatlng the income and expenditure account) 2023 Unrestricted Restrirted fvnds Entlown*nt fvnds 2022 Restricted Endowment fvnd5 Total Unrestricted fvnds rotal Note Income and endowments from: Rental income Investments Other income Totsl In¢om• 217,753 24.071 5,113 246,937 217.753 24,071 5.113 246.937 225,585 22,549 248 248.382 225,585 22,549 248.382 Expendltyre ¢Jn: Raisin8 fvnds Charltab actlvltles Grants to individuals Grant5 to Instltutions Office costs Governance costs Other Totsl expendlture 9.303 9,303 87,15 87mS 69.845 69,845 102.656 101656 59,762 59.762 14,148 17.349 2.997 232,639 14.148 17.349 2,997 232.639 10,473 18.822 10.473 18,822 4,508 172,713 172,713 Net gainslllossesl on Investments 15.351 29.799 45.150 150.6981 198,4141 1149,1121 Transfer between fund5 17 122.1691 22.169 NÈt Incomel lexpendSture)l Net movement In fvnd5 51.968 59,448 24,971 198,4141 173,4431 A•condll•tl¢)n ol fvnds Total Ivnds brou8ht forward 705.264 3.188.657 3.893.921 680,293 3,287,071 3,967,364 Total funds carrled forward 712.744 3.240,625 3.953,369 705.264 3.188.657 3,893,921 All of the results relate to contlnuln8 artivities. The notes on pages 10 to 18 forni part of these financial statements.
FRIMLEY FUEL ALLOTMENTS CIO Statement of Finanaal Position as at 31 December 2023 Plotes Unrestrlrted Restrfrted fund Endowment fund 31.12.23 Unrestrirted Restrlcted Totsl fund Endowrnent fvn(ts fund 31.12.22 Total Funds Investments Financial Investments Investment property 12 347.237 575.255 922.492 342.949 $01,726 844,675 2.750.OIX) 2.750,000 2,750.OQ) 2,750,C 347.237 3.325.2SS 3ffi71492 342.949 3,251.726 3,594,675 CURRENT ASSErs Debtors Cash at bank 14 44.229 341,391 385.620 44,219 341,391 385.620 29,109 369,809 398.918 29,109 369,809 398,918 CREDITORS Amounts fallin8 due within one year 15 120,1131 184.6301 (104.743) 136.6021 {63.0691 199,6711 MET ASSETS CURREpir 365.507 184,6301 362.316 (63.0691 299,247 TOTAL ASSETS iESS CURRENT iIABILmE5 712.744 3.240.625 3.953.369 705.264 3,188,657 3,893,921 NET ASSETS 712,744 3.240,625 3,953.369 705,264 3,188,657 3.893,921 FUNDS Unrestricted fund5 Restricted funds TOTAL FUNDS 17 711744 3,240.625 3.953.369 705,264 3,188,657 3,893,921 The financial statements were approved the Trustees on ..... behalf bv: ..2024 and slined on thelr S Strachan Trustse ateman BA 8FP FCA Trustee The notes on pages 10 to IB fomi part of these financial statements.
FRIMLEY FUEL ALLOTMENTS ao Notes to the Flnanclal Ststements for the year ended 31 December 2023 I Ch•rlty coltItUd0n The charity is a Charrtable Inc0rrdted Or8anlsation registered in England and Wales wlth the Chartty Commission. Details of rts registered number and address are shown in the Trustees Report. page 3. From 1st January 2016 the charity acquired all the assets. liabilit$ and undertakings of Frimley Fuel Allotments Charity, an unincorporated charity re8iStered *ryth the Charity Commlsslon, number 231036. 2 A¢¢ountlni polld•s The principal accounting pollcies wthith are adopted con5iStently in the Preparation of the flnancl•l statements a set out below. oj Bo515 of ¢K¢ountlng The financial staiements have been prepared under the hlstorlcal cost conventlon wlth Items recognised at Cost or transaction value unless otherwise stated in the relevant notes to these financial 5tatemenls. The financial statements have been prepared In attordance with the Charliies Statement of Recommended Practite (Charities SORP IFRS 1021 second edition published October 20191 and the Financial Reporting Stsndard 102 IFRS 102 published March 2018 - effective l Jan 20191. Frimley Fuel Allotments CIO meets the definilion of a public benefft entity under FRS 102. bj FlntwKlol repnq$tonrford 102- rndKed dsclosure exemmlons The charlty has taken advantage of the followin8 disck)sure exemption In preparin8 these financial statements, as permitted by FRS 102 The Financial Reportln8 Standard appllcable In the UK and Republk of Ireland,: the requirements of Sectlon 7 Ststement of Cash Flows c) Income Rental income is recognised when the charity becomes entltled to the income based on occupation. Investment income relates to dividends on listed shares and is recognised upon entitlement. Other income is reco8nised upon entitlement. dj ExpeIle Expenditure Is fecognlsed once there Is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the iJbli8ation can be measured reliably. Expenditure 15 accounted for on an accruals bas15 and allocated to the relevant activity. Where an expense relates to more than one activity it is apportioned on an appropriate basis as detailed in the sUPPOrt cost note. Grants offed subjert to conditions which have not been met at the year end date are noted as a tommitment but not accrued as expendrture. Investment property is shown at fair value. Falr value movements are recognised within net incomelexpenditure of the relevant fund. io
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Flnancial Statements for the year ended 31 December 2023 Investments are included at fairvalue at the balance sheet date. ij DebtW5 All debtors are included at the settlemenl amount due. Prepayments are valued at the amount prepald net of any trade discounts due. hj Cash andSh equlbvlents Cash and cash equivalents include cash in hand, deposit5 held at call with banks, other short-temi liquid investments Wlth orin)1 maturities of three months or le55. and bank overdrafts. ' IJ Credltors qndwovlslons Creditors and provisions are recognlsed where the charlty has a present obll8ation arlslng from past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obll8ation can be ffasured or estimated reliably. Creditors and provisions are recognised at their settlement amount after all(Mryng for any trdde dismunts due. IJ Flnan¢lal lftstrnn The charity only has flnancial assets and liabilities of a kind that qualify a5 baslt finantlal Instruments. The listed investments which a shares held In an investment portfolio are reco8niied at their fair value. oiher basic ftnanckll instruments are Initlalty reco8nlsed at transactknn value and subsequently measured at their settlement value. 1 VAr The charlty Is not re8iStered for VAT and accordingly expenditufe Includes VAT where approprlate. 11 Taxodon The charlty is exempt from tax on Its chafitable artivities. MJ Golng concern The Trustee5 Clylsider that there are no material untertaintles about the charitys ablllty to continue as a 8oln8 concern. nl Fua(coutI Unrestricted funds are expendable at the discretion of the Trnsiees in furtherante of the oblects of the charity. Endowment funds are funds Subject to specific trusts. which may be detlared by the donor or with their authority but still within the objects of the charity- Restrictions arise when specified by the donor or then funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the notes to the Flnancial Statements. oj KeyJments and estlmotrs The Trustees feel there were no judgements made in the process of applyin8 the accounting policies that had a si8nificant effect on the amounts recognized in the financial statement. A key source of estimation and uncertainty 15 the fair value of the investment propertv- The Trustees engage an independent valuer to aSSlSt wth this. The fair value of the investfflent property was £2.750,LW at 31 December 2023. For further information, see note 13 of the accounts. li
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Financial Statements for the year ended 31 December 2023 3. REiifAi INCOME 31.12.23 31.12.22 Pine Ridge Golf Centre - rentsl income and thar8e5 Other rental income 206.753 207,585 li,( 217,753 225.585 4. INVESTMEpif INCOME 31.12.23 31.12.22 Income from listed investments 23.581 22,549 8ank interest 49) 24.071 22,549 S. OTHER INCOME 31.12.23 31.12.22 Charitable donation Easement payment 4,950 Interest on late payment of rent 163 5.113 6. RAISING FUNDS 31.12.23 31.12.22 Investment management costs Portfolio management 9.303 7. GRANTS PAYABLE 31.12.23 31.12.22 Grants to Individuals 87.5 69,845 Grants to institutions 102.656 59.762 189.661 129,607 12
FRIMLEY FUEL ALLOTMENTS CIO Notes to the F5nanclal Statements for the year ended 31 December 2023 The total grants pasd to instttutions durln8 the year ¥fts as folk)ws: 31.12.23 31.12.22 South Camberfey SchLN)I 19,600 Home Start Sufrey Heath I3,0 Connect Counsellini io.cxyj Surrey Heath Concern lo. Hope Hub 8.450 5.113 St Barbara's Church Old Dean Community Group Camberley Job Club St Peterfs and St Francig Frimley Baptist Church Surrey Heath- Asylum Seeker Bus Pass Fund The Family Contact The Old Dean Rec Camberley Adult Learnin8 Centre White Lodge lo, St. Andrev/s Church BESOM Wholenotes 1,5LKI Camberley Citizens Advice Bureau 15,[ Phyllis Tuckwell Hospice St Martin's Church Mychett Baptist Church Grants of less than £l,CllO 3.762 1,149 101656 59,762 13
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Flnanclal Statements for the year ended 31 December 2023 GOvERNAP1 cosrs 31.12.23 31.12.22 Independent Examinerfs fee 2,667 Data Protection Registrarfs fee 35 countancy and payr1 costs 3.358 442 Le8al advice 6,839 1.938 Admlnistrator costs 5.592 13.740 17.349 18,822 9. OTHER 31.12.23 31.12.22 Insurances and other property costs 2.997 4.507 2J97 4,507 10. TRusfEES' REMUNERATION ANO BENEFIT5 There were no TnJstees' remuneraiion or olher benefits for the year ended 31 December 2023 nor for the yearended 31 December2022. 11. STAFF COSTS 31.12.23 31.12.22 Wages and salarles ION52 8.635 The average number of employees during the year was as foll*5. 31.12.23 31.12.22 Grant Adminlstration Key mana8ement personnel comwise only the TDJstees. none ofwhom were Temunerated. No employees reteived emoluments In excess of £60.Oc. 14
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Flnanclal Statements for the year ended 31 December 2023 12. FIXED ASSET INVESTMENTS Listed Investments FAIR VALUE At l January 2023 Additions Disposals Fair value movements At 31 December 2023 844,674 239,411 1209,5281 47.934 922,492 The Fixed Asset Investments include both the Unrtttrirted and Restricted funds. For further inforn)ation. see note 17 of the accounts. There were no investment assets outside the UK. 13. INVESTMENf PROPERTY FAIR VAWE At ljanuary 2023 2.750,OLM> Falr value movement At 31 December 2023 2,750,(XKI The Trustees have valued the land owned by the charily at £2.750,IXM) for the year ended 311¢ December 2023. The last independent valuation was in 2018 and the Trustees are of the vlew that the value has not changed materially since then. 14. DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 31.12.23 31.12.22 AccrL4ed income Other debtors Prepayments 40,942 960 2.327 44,229 28,516 593 29.109 15. CAED[roASAhvNTS F*IUNG DUE WtTHIN ONE YEAR 31.12.23 31.12.22 Trade creditors Accrual for grants payable Other creditors Rent received in advance 1.216 3.820 89,707 io,c 104,743 1,220 2.831 68,120 27,500 99,671 15
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Flnanclal Statsments for the year ended 31 December 2023 16. FUNDS Unrestrlrted funds comprise th05e funds whith the Trustees are free to use In attordance with the objerti¥es ofthe charity. The Endowment fund represents those assets whlch must be permanently held by ihe Charlty, prlncipally land and financial investments. Int¢Mne arlsing on the Endowinent fund can be used in accordance with the objects of the charity and is Included as unrestricted income. Any capital gains or losses arlsing on the investment forms part of the fund. Investment management char8es and le8al advice relating to the fund are charged against the unresirirted funds. Durfng the year. the charlty was able to invest a further £23.581 of accumulated income12022: £22,291) Into the unTe5trirted funds mana8ed by Brewin Dolphin. 17. )VEMEpf IN FUNDS Net movement in funds At 31.12.23 01.01.23 Unr•strlct•d funds General funds Flnancial investments 369,830 335.434 17.8711 15,351 361,959 350,785 Reslrlrted funds Pern)anent Endowment fund 3,188,657 S1.W 3.240,625 TOTAL FUNDS 3.893,921 59,448 3,953369 Incomin8 resources RerCeS expended Gains and Movement In funds Transfers Unrestrl¢ted fvnds General fund Flnancial investments 246.937 1232.6391 122,1691 17,8711 15,351 15.351 Restrlrted fvnds Pemianent Endowrnent fvnd 29,799 22.169 51,968 TOTAL FUNDS 246.937 1231639 45,150 59.448 Durin8 the year, the Trustees approved a transfer of £22.169 from the General fund to the Permanent Endowment fvnd to corrert a historic departure from the investment policy of the charity. The policy requires investment management fees to be char8ed a8ainst the General fund, however it was found that thls had not been the case between 2014 and 2020 intlusive. 16
FRIMLEY FUEL ALLOTMENT5 CIO Notes to the Flnanclal Statements for the year ended 31 December 2023 Cofflparatl¥es for movement In lunds At 01.01.22 Net rnovement in funds At 31.12.22 Unrestrlct•d lunds General fund Financial investments Restrlcted fvnds Permanent Endo¥4ment fund 294,161 386.132 75,669 150.6981 369,830 335.434 3.287,071 198.414) 3.188,657 TOTAL FUNDS 3.967.364 173.4431 3.893,921 Comparatlve net mtrlement In lunds. included in the above are a5 folk>ws: Incomln8 resoJrces ResrreS expended Glns Ind Movement losses In fvnds Unrestrfcted lunds General fvnd 248.382 1172.7131 75.669 Financlal Investments 150,6981 150.6981 RtstrIct lund5 Permanent Endowment lund 198.4141 198.4141 TOTAL FUN05 248.382 1172.7131 1149.1121 {73,4431 18. ANALYSIS OF FUNDS Fixed Asset5 Current Assets Current Llabilities lotsl At 31-12-23 Unrestrictèd Restricted 347.237 3,325,255 3.672.492 385.620 20,113 712,744 84,630 3,240.625 104.743 3.953.369 385.620 At 31-12-22 Unrestricted Restricted 342.949 3.251,726 3,594.675 398.918 36.f2 63.(9 99,671 705.264 3.188.657 3,893,921 398,918 19. RELATED PARTY 01SaosuRES During the year. trwo Trustees were reimbursed £755 in relation to expenditure on office expenses and a lunch in recognition of the retlrement of several lor serving Trnstees. There were no related party transactions for the year ended 311)ecember 2022. 17
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Financial Statements lor the year ended 31 December 2023 20. OPERATING LEASE COMMrrMEiirs The chariWs total future minimum lease payrnents under operating leases at 31 December 2023 were payable as set out below.. 2023 2022 Within l year Within 2 to 5 years Over 5 years 120 120 The operating lease relates to rented wemise& The lease commitment Is on a thfee month rollln8 basis. 21. VOLUNTEERS On occasion. 8eneral volunteers are used for maintaining In reasonable condition those parts of the Inve5tmenl property estate which are noi leased io third parties. to allow contlnued enloyment of the facility by the local communty. 22. LESSOR OPERATING LEASE COMMrrMENT5 The total future minlmum lease payments due to the charlty from the lease of the investment property a as follows.. 2023 2022 Withln l year Within 2 to 5 years Over S years 90,(MX) 90,IJXI 2Y. FINANCIAL INSTrVMENT5 2023 2022 Flnanclal asset at Fair Value 922,492 844,675 The Falr Value of the115ted investments is derived from the market prlce of the relevant shares as at the year end. For further Infomatlon, see Note 12 of the actounts. 18
FRIMLEY FUEL ALLOTMENTS CIO Notes to the Flnanclal Statements for the year ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENT5 Other tradlni artmtles Pine Ridge Golf Centre- rental income and charges Other rental Income 206,753 li.( 217.753 207.585 18,fXK) 225.585 Inv•rtment Inmme Income from listed Investments Bank Interest 23.581 22,549 Z4.071 22,549 Othw Charitable donation Easement payment Interesl on late payment ol rent Tot*1 Incomlnl resour¢•s 248 4.950 163 246,937 248,382 EXPENDITURE In¥e5tment m•n•ym•nt tosts Portfdlo management 9,303 Charhable attl¥ltl•s Wages Office costs Grants to instltutlons Grants to individuals 10.452 3.617 102,656 87,005 203.730 8.635 1,754 59,762 69,845 139,996 Other Insurances and property costs Estate costs 983 2,014 1997 853 3,655 4,508 Support costs Govemance costs Telephone Accountancy and le8al fees Administrator fees 11.757 5,592 17,428 5,082 13,740 18,9)6 Total resour¢e5 expended 231639 172,713 Nèt Incomtl{exptndfturt) before talns and losses ,298 75,669 Reallsed reColSed plns and losses Realised gainslllossesl on fixed asset investments 12.7851 142,1621 Net In¢omellexpeTrdlture} 11.513 33,507 Thls page not forni part of the Ststut financlal statements. 19