2023-02-28-accounts - Boston Municipal Non-Educational Charities

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Trustees' Annual Report for the period

Period start date Period end date 01 March 2022 28 February 2023 To

From

Section A Reference and administration details

Charity name Boston Municipal Non-Educational Charities (a CIO) Other names charity is known by Boston Municipal Charities Registered charity number (if any) 1171896 Charity's principal address 28 Wide Bargate Boston Lincolnshire Postcode PE21 6RT

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee(if any)
Patricia Ruth Street
Ernest Albert Napier
Andrew Bakewell
John Brogden
Rev Jane Robertson	Vicar of Boston	From June 2022
Anthony Robert Austin
Stephen Woodliffe			Boston Borough Council
Sean Forster			Boston Borough Council
Colin Brotherton			Boston Borough Council

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Legal	Chattertons Legal Services Limited	28 Wide Bargate, Boston, Lincolnshire PE21 6RT
Financial/Investment	Chattertons Wealth Management Limited	5 South Street, Horncastle, Lincolnshire LN9 6DS
Accountancy	Dexter & Sharpe	The Old Vicarage Church Close Boston Lincolnshire PE21 6NA

Name of chief executive or names of senior staff members (Optional information)


Section B Structure, governance and management

Description of the charity’s trusts Charity Commission Foundation Model CIO Constitution
Type of governing document (eg. trust deed, constitution) Charitable Incorporated Organisation
How the charity is constituted (eg. trust, association, company) Five initial Trustees on creation of CIO.
Trustee selection methods Not less than 2 nor more than 4 Trustees to be appointed by Boston
(eg. appointed by, elected by) Borough Council. 2 Trustees ex-officio – the Mayor of Boston and the Priest in Charge of St Botolph’s Church Boston 2- 6 Trustees nominated by other Trustees Maximum number of Trustees therefore 12
Additional governance issues (Optional information) This is the sixth full year of this relatively newly formed Charity, which
You may choose to include replaced a number of ancient local charities in a single CIO.
additional information, where relevant, about:  Day to day administration of the Charity is done by Mrs Katherine Bunting policies and procedures of Chattertons Legal Services Limited who is the Clerk to the Charity.
adopted for the induction and training of trustees; Because of the Covid 19 Pandemic the trustees were not able to meet
 the charity’s organisational until the very end of the year as most of the Trustees are elderly and structure and any wider vulnerable. network with which the charity works; A lengthy meeting was held on 7[th] February 2023 at which many catching
 relationship with any related up issues were dealt with. parties;
trustees’ consideration of major risks and the system and procedures to manage them.

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March 2012

Section C Objectives and activities

The Charity is divided into three sections as result of the history of the charities it has replaced/merged with on formation.

The Objects of the three sections are as follows:

Summary of the objects of the charity set out in its governing document

The prevention or relief of poverty in the Borough of Boston Lincolnshire by providing: grants, items and services to individuals in need and/or charities, or other organisations working to prevent or relieve poverty.
To advance Christian religion for the benefit of the public in the Borough of Boston Lincolnshire by supporting with grants the activities and Mission of all Christian Churches in that area.
To preserve and protect the health of patients and the public in the Borough of Boston Lincolnshire by providing and assisting in the provision of facilities, support services and equipment not normally provided by the statutory authorities.

In administering the Charity the Trustees declare that they have had regard to the guidance issued by the Charity Commission on public benefit.

During its sixth year of operation the Charity made a number of grant payments as follows:

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

A grant of £25,000 to the RoadHoG Bus Youth Project which operates a mobile youth centre/church in a former bus in the town of Boston and surrounding villages. This was partly towards alteration costs for a new bus being purchased for the project and partly for ongoing running costs.

A grant of £25,000 to New Life Community Church Kirton towards its new church building

A grant of £6,785 to Zion Methodist Church Boston for IT and communications technology to make services available online

A grant of £10,000 to the Paris of Boston's Musical Director's Fund to support the various choirs and work with local primary schools around choral music.

Catch up payments totalling £3000 for three years to four local relief in need organisations and £600 to two medical charities

Apart from this, income has continued to be accumulated to be used in making grants in future years.

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March 2012

Additional details of objectives and activities (Optional information)

Policy on Grant Making

The organisation will look to make grants to churches in order to enable them to deliver their programme of promoting Christianity throughout the Borough whether this is by way of making grants towards capital projects or towards income projects. Grants will be made towards projects that can be demonstrated to promote all aspects of the Christian religion.

It is intended that the minimum grant would be £500 and the maximum grant will depend on the income of the organisation.

The organisation would intend to monitor the impact of the grants it makes by asking for follow up reports from those to whom grants were made. The precise requirements of the follow-up reports and the timetable would depend on the type and amount of grant made, the nature of the project involved etc.

Contribution made by volunteers

There are no volunteers involved with the Charity, other than the Trustees themselves.

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Summary of the main achievements of the charity during the year

The total income for the year was £41,467.85. The bulk of the income of the Charity (£40,470.40) is reserved for the advancement of religion section of the Charity.

After payment of professional fees for the ongoing management of the CIO and investment advice, totalling approximately £9550 paid in the year, and the grants of £70,380 referred to above, a further £25,600 approximately of accumulated income has been retained and carried forward to be paid out in grants in subsequent years, of which almost £1,000 is for the Relief in Need section, £235 for the medical section and the balance (£24,422) for the Religion section.

TAR

March 2012

Section E Financial review

Brief statement of the charity’s policy on reserves

Details of any funds materially in deficit

The Charity does not intend to maintain anything more than a nominal level of reserves going forward, provided sufficient suitable grant applications are received to allow the full amount of income generated to be paid out in future years. Based on the number of applications received in recent years it appears there will be plenty of demand for the Charity’s funds.

If this turns out not to be the case the Charity may consider widening its objectives to allow it to assist other worthwhile Christian Charities in Boston which do not currently fall within the Charity's precise Objects. None

Further financial review details (Optional information)

Principal sources of funds

You may choose to include additional information, where All funds have been transferred from the previous unincorporated relevant about: charities which the Charity has replaced, which in turn derive from  the charity’s principal ancient charities established in the 16[th] and 17[th] centuries. The bulk arise sources of funds (including from the sale of land and the benefit of overage agreements on that land any fundraising); in the past 10 years. The sums generated have been invested in a variety  how expenditure has of funds in the specialist charitable investment market one the advice of Chattertons Wealth Management Limited. supported the key objectives of the charity; There is no fundraising.

investment policy and objectives including any Policy on Investment ethical investment policy adopted. The general investment policy is to balance generation of income to enable the Charity to fulfil its objectives whilst ensuring long term maintenance of the real capital value of the investments so that the real value of the income generated by the investments keeps pace with inflation allowing the charity to continue to operate, hopefully in perpetuity.

The Charity has considered but decided not to adopt any particular ethical investment policy. In February 2023 the Trustees advised by Chattertons Wealth Management Limited took the decision in principle to move to a discretionary managed fund approach with Evelyn Partners and an Investments Subcommittee was set up to manage this process and see it into effect in the early part of the 2023/24 financial year, carried out and overseen by Chattertons Wealth Management Limited.

Section F Other optional information

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March 2012

None

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Katherine Louise Bunting Position (eg Secretary, Chair, Clerk etc) Date 19.12.2023

TAR

March 2012

THE BOSTON MUNICIPAL NON-EDUCATIONAL CHAIUTIES CHARITY NUMBER: 1171896 FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

THE BOSTON MUNICIPAL NON-EDUCATIONAL CHARITIES CHARITY NUMBER: J171896 FOR THE YEAR ENDED 28 FEBRUARY 2023 CONTENTS PAGE Independent Examiner's Report Relp1S and Payments Account Statements of Assets and Liabilities Schedul¢ of Personal Estate

INDEPEf4DENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOSTON MUNICIPAL NON-EDUCATIONAL CHAIUTIES CHARITABLE INCORPORATED ORGANISATION (6the CIO,) CHARITY NUMBER: 1171896 I report to the charity trustees on my examination of the accounts of ihe CIO for the year ¢nded 28 F¢bi'uary 2023. Responsibilities and basis of report As the chai.ity trustees of the CIO you are responsibl¢ for the preparation of the accounts in accordanc¢ with the rcquiremenls of the Charities Act 2011 ('the Act,). I report in respect of my examination of the CIO'S accounts carried out under section 145 of the Act. In arrying out my examination I liave followed all applicable Directions given by the Charity Commission und¢i' Section 145(5) (b) of the 2011 A¢t. Independent examiner's statement have completed Iny examination. I confinn that no Inaterial Inatters l)ave Come to my attention iii conneetion with ihe examination giving me cause to believe that in any material respect.. l. Accounting r¢¢ords welt not kept as requii'ed by scclion 130 of the Act. or 2. The accounts do not accord with those records. I have no ¢oncerns and have coine across no other matters iii connection with the ¢xaininalion to which attentioii should be drawn in this report in order to enable a prop¢r uiiderstanding of th¢ accounts to b¢ r¢ached. MRS NICOLA MICHELLE LENTON FCCA Independent Examiner Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Boston Lincolnshire PE216NA Dat¢: 25 September 2023

THE BOSTON MUNICIPAL P40N-EDUCATIONAL CHARITIES CHARITY NUMBER: 1171896 RECEIPTS AND PAYMENTS ACCOUNT FOR THE YKAR ENDED 28 FEBRUARY 2023 Relief In Need Total 2023 Total 2022 Religion Medical Reeeipts Natwesl Bank PLC- Interest 311.73 311.73 5.37 Charifaitl) Coininon Inv¢stm¢nt Fund 216,380.90 Income Units 4,868.57 4,868.57 9,412.57 Schrodei. Charity Mulii-Asset Fund 359,487.57 disti'ibution units 475.88 7?44.45 111.04 7,931.37 7,734.73 COIF Charity Fuiid5 14,647.96 incoine units 478.81 7,389.67 111.72 7,980.20 7.823.48 Property Incom¢ Trust for Charities Fund 245,309.51 Units IOJ95.25 10,395.25 10,042.90 Alpha Common Inv¢stment Fund 140,581.069 incom¢ unils 4,857.21 4,857.21 4,759.92 Railiboi)¢ Core Investment Fund foi. Charities incom¢ 176,783.43 units 4,720. 11 5,303.52 5J03.52 TOTAL RECEIPTS 954.69 40,470.40 222.76 41,647.85 44,499.08 ALL FUNDS ARE RESTRICTED

THE BOSTON MUNICTPAL NON-EDUCATIONAL CHARITIES CHARITY NUMBER: 1171896 RECEIPTS AND PAYMENTS ACCOUNT (CONTINUED) FOR THE YEAR ENDED 28 FEIIRUARY 2023 Relief In Need Total 2023 Total 2022 Religion Medical Payments Roadhog Bus Project Gi'ant New Life Community Church Accoui)tancy charges 25,000.00 25,000.00 1,800.00 25,000.00 13,000.00 25,000.00 1,800.110 Chattertons charges- Inveslmeiit advicc 7,748.00 7,748.00 13,861.70 Churchwardens of Boston Fishtoft, Skii'beck and Bcnington Butterfly Hospice Trust ULHT Cliaritablc Funds Zion Methodist Church Parish of Boslon Musical DirtOr'S Fund 3,000.(H) 3,000.00 300.00 300.00 6,785.00 300.00 300.00 6,785.00 10,000.00 10,000.00 TOTAL PAYMENTS 3,000.00 76,333.00 600.110 79,933.00 26,861.70 Relief In Need Total 2023 Total 2022 Religion Medlcgl Net (paymei)Is}/receipts for the year {2,045.31) (35,862.60) (377.24) (38,285.15) 17,637.38 612.30 63,912.94 46,275.56 Balance brought forward 3,015.68 60,284.96 BALANCE CARIUED FORWARD 970J7 24,422.36 235.06 25,627.79 63,912.94 ALL FUNDS ARE RESTRICTED

THE BOSTON MUNICIPAL NON-EDUCATIONAL CHARITIES CHARITY NUMBER: 1171896 STATEMENT OF ASSETS AND LIABILITIES AT 28 FEBRUARY 2023 2023 2022 Bank Balance Natwesl PLC R¢lief in Need 970.37 3,015.68 Religion 24,422.36 60.284.96 Medical 235.06 612.30 25,627.79 63.912.94 Chattertons Client Aeeount Personal Estate (Page 5) 1.198,267.08 1,198,267.08 1223,894.87 1,262,180.02 Committed future payments- Religion Accountancy charges 990.00 Trustees Date.. 25 September 2023

THE BOSTON MUNICIPAL NON-EDUCATIONAL CHARITIES CHARITY NUMBER: 1171896 SCHEDULE OF PF.RSONAL ESTATE 28 FEBRUARY 2023 Schroder Cliarity Multi-Assct Fund 359,487.57 Distribution Units (Inarkct value January 2023 £195.093.90) 176,743.91 COIF Cl)arity Funds 14,647.96 Income Units (Inarket value January 2023 £292,455.31) 176,743.92 Charifaith Common Investment Fund 216,380.907 Income units (market value January 2023 £327,853.86) 274.135.06 Alpha Coinmon Investment Fund 140,581.069 Incom¢ Unit5 (market value January 2023 £135,238.99) 150,000.00 Propeity Income Trust for Charities 245.309.51 units (market value January 2023 £196,959.01) 207.236.51 Rathbone Core Investment Fund for Charities 176,783.43 units (Inarket value January 2023 £217.850.22) 186,907.68 Chattertons, cli¢nt accounfs 1,500.00 Natwf 5t savii)gs account 25,000.00 1,198,267.08 Allocation of Funds Reli¢f iii need 20.758.84 Religion 1,172,480.53 Medical 5.027.71 1,198,267.08

THE BOSTON MUNICIPAL NON-EDUCATIONAL CHAIUTIES CHARITY NUMBER: 1171896 FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023