AGM CHARfN REGISTrATION NUMBER: 1175666 Shepton Mallet United Charities Independently Examined Financial Statements 31 December 2023 CHALMERS HB LTD Chartered Accountants 20 Chamberlain Street Wells Somerset BA5 2PF
Shepton Mallet United Charities Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examinerfs report lo the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial ststements Detailed statement of financial activttses 19 Notes to the detailed statement of financial adivities 20
Page 1 Shepton Mallet United Charities Trustees. Annual Report Year ended 31 December 2023 The trustees present thlyr report and the unaudited financHI Ststents of the charity for the year ended 31 December 2023. Reference and administrative detsils Registered charity name Shepton Maltet United Charrbes Charity rngistration number 1175666 Principal offi¢¢ The Parish Off Peter Street Rooms Peter Street Sheplon Mallet BA4 5BL United lfjngdom Th9 trustOOS Mr P G H Davies (Chairman) MrJ Curtis ' Mrs S D FreetKJm Mrv Acowen Mr G Cockill Mr K Taylor Mrs J Dear Mrs K Lovell Mrs S Dunne MrNMay Mr J Rendel {Retired 3 May 2023) Independent examlner P Ballan-IAthitfieid BA FCA Chalmers HB Ltd 20 ChamLErlain Street Wel Somerset BA5 2PF
Page 2 Shepton Mallet United Charities Trustses. Annual Report (cominuedj Year ended 31 December 2023 Stw¢ture, governance and management Shepton Mallet United Charities 15 a Charilable IncoTporated OrganisatJ) ICIO} and ts a RegiSted Chanty (number 1175666) registered with the Charity CoMmi10n and is also a Registered Soaal Housing Provider with Homes England {number 51421. It was set up to take foThvard the work of the unincorporated charity. also kncmn as Shepton Mallet United ChaTities {Charity Registration number 236426). The CIO was fomEd on 9 November 2017 with a new foundation model constitutson. Until the close of business on 31 December 2021 the CIO had remained dorrnant but. from the opening of business on 1 January 2022, all assets and funds ofthe unincorporated chaTity were transferred across with all the unincorporated charity's OFeralions conb"nuing under the CIO. The unincorporated charty was wound up and dissolved during 2022. As a registered provider of social housing the Charity has undertaken an assessment of its Complian with the G0veTan and Financral Wiability Standard and the Trustees certfy that they were compliant with the Standard during the (x)urse of the year and up until the date the accounts have been signed. The Chanty is managed by the trustees who implement the Charity's objectives. Objectives and activities The principal object of the Charity i% to provide Sal housing in the form of almshouse accommodation for the benefft of older or disabled persons resident in Shepton Mallet and the surrounding area who are in need or exrHiencing hardship or distress. The trustees have referred to the guidan tx)n12ined in the Charity Commission's general guidance on public benefft when revievAng their airrs and objectives and in planning their future activities. Aehiev¢ments and perfornian¢e The Charity has continued to meet regular. on-going commilnnts arising from the existing units of accommodation in management The tSteeS constanty rrK¢nitor the risks fad by the charity, and the mitigations and responses that are availab. in the quartety Trustee Boar(I meetings. A major fire occurred at one of the thartty's alff6houses. 14 Church Lane. on 30 Juty 2023 which will require a complete intemal tOratiOn. The resident ewped Unharnd and was rehoused at another location in Shepton Mallet The property is fuHy insured with no material loss to the charty.. all restorabon and Sident rehousing costs are being met dirertty by RSA Insurance Ltd. The appointed contractors restoratson works cornmend April 2024 wtth extcted completion August 2024.
Page 3 Shepton Mallet United Charities Trustees. Annual Report(coFrfin Year ended 31 December 2023 Financial review The net surpl(Js on ordinary aclivitres for the year any)n to £20.910 (2022 £11.355) The Charity's statement of financial posthn as detsiled on page 8 shows a salisfactory posf(ion with reserves amountsng to £906.729 (2022 £885,819) The Trustees have a policy of continualty reviewÉng the te5erves Frf)silion with the Objtive of maintaining a level of reserves appropriate to the requiremerts of the Charity.
Page 4 Shepton Mallet United Charities Trustees. Annual Report (c Year ended 31 December 2023 Value for money The Regulator of la1 Housing has introduced a Value for Money Standard and requires providers such as ourselves to publish perfonnance metrics against our own Value for Money targets. These measure economy, efficiency and effectiveness of all similar operab"ons. We have found that not all are applK?ble. as for example we have not prcmJUd any new units, so this one is omitted on thrs cccasion. Our remaining perfOrrnan Metrics are as follows: 1. Reinvestrnent- not applicable as no property fixed asset addibons in year 2. New supply delNered - not appl#2ble as new unrts in year 3. Gearing- not applicable as no borrowing 4. EBITDA- not appl¢cable as no interest as no ts)rrowing 5. Headline social cost per unit- £4,828 6. Operating Margin- (social housing lettings)- (1.88%) 7. Operating Margin- {ovefall)- 12.46% 8. Return on prtaI employed- 0'.91% When considering these metrics, it should be noted that the Charity has no borrowing. Target- £5.248 Target- {19_80%) Target- (8.32Yol Target- {0.55%) The ChaTity 15 constanty worknng to manage rts resour$ to npximise cost effectiveness. These sthvings for greater efficÉency are avaYS r2rried out with the proviso of providing quality SeNiS to meet tenants, and potential tenants, needs. The Charity is very conscious of the need to achteve a financial return in line with its targets and performance to match the expedations of residen The Charity views value for rTh)ney being rnaxirnised when there is an optimum balance betsveen the following.. realistically low costs, efficiency and the suc£essful provision of a quality service. The of the Chartty's value for morkey prc¥JramrrE continues to embrace rts approach to budgeting, risk managemen( service qualty. voids management. energy consumptK)n and planned maintenance. Plan$ for fUre peTtots The charity is looknng forward to its 400th annbversary in 2027 which it hopes to mark with the acquisition of more acL0mndan to meet the growing demand in the local area, further its objectives and ensure rts sustainabiltty- To that end rt conb'nues to focus on building up the necessary funds.
Page 5 Shepton Mallet United Charities Trustees. Annual Report (cothin Year ended 31 December 2023 Plans for future periods (cort•14 Responslbllftles of the trustees The trustses are spOnSIble for p[ring the Trustees. Annual Report and the financial stslements in accordance with applicable jaw and regulth"ons. Charity and Registered Housing legislation requires the trustees to prepare financial statements for each financial year which give a twe and fair view of the stale of affairs of the Registered Social Housing Provider and of the incoming resources and application of resources. iTrduding the income and expendrture. for that pwiod. In preparing these financial ststements. the trustees are requwed to: . select suilable accounting pol$ and then appty them consi8tenty: . obseNe the methcKls and prinuples in the Charities SORP". . make judgements and estimates that are reasonab and pnjdert state whether applicable UK Accounting Standards have been followed. subject to any material departu$ disclosed and explained in the finanual statements". prepare the financial statements on the going c(wern basis Unl rt És inappropriate to presume that the Registered Social Housing Provider will ¢xJntinue in operation. The trustees are responble for keeping proper accounting recottls that disdose with reasonable accuracy at any time the financtal positi'on of the Registered Sccial Housing Provider and enable them to ensure that the financial statements compty with the Chaiilies Acts. Housing and Regeneration Act 2008 and the Accounting Direction for pisvats registered providers of social housing in England 2022. The trustees are also reSwnSib for safeguarding the assets of the Registered Soa"al Housing Provider and hel for taking reasonable steps for Ihe prevention and detection of fraud and other iiregulaTSties. The trustees, annual report was approved on .............. trustees by: 4and signed on behalf of the board of Mr P G H Davies Trustee
Page 6 Shepton Mallet United Charities Independent Examinerfs Report to the Trustees of Shepton Mallet United Charities Year ended 31 December 2023 I report to the trustees on my examination of the financHI staterrEnts of Shepton Mallet United ChaTtties for the year ended 31 Dmber 2023. Responslbilitles and basls of report The trustees are responsible for the preparan ot the finanryal statements and they consider that the Regislered Social Housing Provider is exempt from an audL It my ponsIbIlity to cary out procedures designed to enable me to reFXJrt my opinK)n. Basis of independent a¢¢ounlant's report My work was conducted in a(xxsrdance wtlh the Statement of Standards for Reporknng Accountants, and so my procedures COnsted of comparing the accounts wtth the accounting reo)rds kept by the Registered Social Housing Provider. and kIrj such limf(ed erw]uiries of the officers of the Registered knial Housing Provider as I considered neSSary for the purtM)ses of this reporL These procedures provide onty the assuran expressed in my opinion. Independent examinerfs statempnt In my opinion= (1) The accounts for the year ende(131 December 2023 are in accordance with the accountr.ng re(xJrds kept by the Register&J Social HousiThJ Provid under patagraph 135(2){al of the Housing and Regeneration Act 2008" 12) Having regard only to. and on the basis of the information corrtained in the accounting records-. The accounts c(Mnpty with the requiretTts ofthe Charrties Art 2011, The Register&J Soaal Housirtg ProvKler has salisfied the condilw)ns for exemption frorn an audit of the ac(x)unts for the year ended 31 D82mber 2023 S)fied in section 136131 of the Housing and Regenerdtion Act 2008". 13) The accounts comply wth the requirements of the Housing and Regeneration Act 2008 and the Accounting Direction for registered providers of lat housing in England 2022. P Ballan-whiffield BA FCA CHALMERS HB LTD Chartered Accountants 20 Chamberfain Street Wells Somerset BA5 2PF Date.. 3 tr1
Page 7 Shepton Mallet United Charities Statement of Financial Activities Year ended 31 December 2023 2023 Unrestricte(I fvnds Total funds Total funds 2022 Income and endovrnnts Chantable activities Investsnent income 56.876 9,320 56.876 9,320 66,196 53.060 2,055 Total income 66.196 55,115 Expenditure Expenditure on charitable activities Total expendlture 57,946 57.946 44.111 57.946 57,946 44,111 Net gainslllosses) on invesbnents 12.660 12,660 351 Nel income and net mvement in funds 20,910 20,910 11,355 Reconcilialton of funds Total funds brought forward Total funds carried forward 885.819 885.819 874,464 906,729 906,729 885,819 The statement of finanaal activities indudes all gains and k)sses renised in the year. All income and expenditure derive from conb'nuing activths. The notes on pages 9 to 17 forni part of these fin¢la1 statwnents.
Page 8 Shepton Mallet United Charities Statement of Financial Position 31 December 2023 2023 2022 Fixed assets Tangible fixed assets Investments 14 15 466,599 242,931 709,530 477,206 230.271 707,477 Current assets Debtors Cash al bank and in hand 199.555 180.922 199.599 2NOO 180,922 2,580 Crgditors: amounts falling due within one year Net current assets 16 197,199 178,342 885,819 Total assets less currpnt liabilities 906.729 Net assets 906.729 885,819 Funds of the charity Unrestricted funds 906.729 906,729 885.819 Totsl chaTity funds 19 885,819 These financial statements were approved by the tw)ard of trustees and authorised for issue on I . . ..2£>Tr*, and are signed on behalf ofthe board by: rNMay Trustee Mr P G H Dawes (chairffn) Trustee The notes on pages 9 to 17 ftxm part of these financtal ststemonts.
Page 9 Shepton Mallet United Charities Notes to the Financial Statements Year ended 31 December 2023 General infomiation The Charity is a public benefft entity and a regi%tered charity in England and Wales and incorporated. The address of the principal office is The Parish 0fe, Peter Street Rooryts, Peter Street. Shepton MalleL BA4 5BL, Uniled Kingdom. Statement of ¢omplian¢e These financial staterrEnts have been prepar1 in corrlIan with FRS 102. The Financial Reporting Standard appli(xble in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charitses pparing their accounts in accordance with the Financial Reporting Standard applUb in the UK and Republ of Ireland (FRS 1021 (Charities SORP IFRS 10211 and the Chariltes A(a 2011 and the Accounbng Direc*on for private regISterj providers of social housing 2022_ Accounting policies Basis of preparation The financial statements have been adapted in order to comply with the Housing and Regeneration Act 2008 and wrth the Accounb'ng Direction for private registered providers of social housing in England 2022. In line with the SORP, this charity reconstruction has been treated as a merger and the figures for the unincorporated charity have, therefore, been shown as comparatives. Going concern The financial statements have been prepared on a going COnM basis as there are no material uncertainties about the Charity's abilty to conts"nue. Disclosure exemptions The entity sats"sfies the criteria of being a qualifying entity as defined in FRS 102. A5 such. advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. {a} No cash flow statement has been presented for the charity. (bl Disclosu$ in respeci offinan¢ial inslwments have not teen pSertted. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires Anagement to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continualty reviewed and are based on exFwience and other factors, including expectations of future events that are believed to be Sonable undei the cirCumstans. Fund accounting Unrestricted general fvnds are available for use at the discretion of the trustees to fvrther any of the charity's purposes. Unrestricted designated bjnds are earmarked by the trustees for particular future project or commitment Restrlcted funds are subjected to rest[tIonS on their expendiiure dectared by the donor Of through the tem of an appeal. and fall into one of tsyo sub-classes: restricted income fvnds or endowment funds.
Pag¢ 10 Shepton Mallet United Charities Notss to the Financial Statsments l¢orrfthuedJ Year ended 31 December 2023 Accounting pollcies (continue Incoming resources All incoming resources are induded in the ststement of ffinanctal activibes when enkn'dement has passed to the ¢hanty', it is probable that the ecDnomic tenefits associated with the transaction will flow to the charity and the amount Can be lIab NEasured. The following specific policies are applied to particular categories of income: income from donat¢ons or grants is recognised vthen the is evidence of entiUement to the gÈft, receipt is probable and rts amount can be measured reliably. legacy income is recognised when receipt is probable and entiuerrent is established. income from donated gc*)ds is measured at the fair value of the goods unless this is impracti<21 to measure reliabty. in which se the value ts derived from the cost to the donor or the estimated resale value. Donated facilities and seNices are recognised in the accounts when receNed rf the vallxe ran be reliabty m&qsured. No amounts are included for the contribution of geneFal volunteers. income from contracts for the suppty of Servi is rwnised with the deltvery of the contracted serv. This is dassrfEd as unrestricted fvnds unle&s there is a contractual requirement for it to be spent on a parbujlar purpose and returned rf unspent in which case it may be regarded as restricted. Resources expended Expendrture is twnised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fvlly recovered. and dasstfied under headirsgs of the ststement of financial activities to which il relates: expenditure on raising fvnds includes the costs of all fijndraising actiVS, events, noniharitable trading activities. and the sale of donated goods. expendiiure on chantable aclivtties includes all costs incutTed by a charity in undertaking activities that fvrther its charitable for the benefit of tts beneficiaries, including those support costs and costs relating to the govemance of the tharity app)rtioned to charitable activits"e& other expenditu includes all expendrture that is neither related to raising funds for the charity nor part of lis expendthre on chaiitable aclivities. All costs are allo(%ted to expendthre tegorieS refiecting the use of the resour. Direct costs attiibutable to a single acltvty are allcx2ted di to thal ath"vity. Shared costs are apportioned beiween the activrties Ihey contribute to on a reasonabte, justifiable and consistent basis.
Page 11 Shepton Mallet United Charities Notes to the Financial Statements (conthl Year ended 31 December 2023 Accounting policies (¢ontinuedJ Tan9ible assets Housing land and buildings Housing land and buildings are stated at cost Cost includes costs of acquisition. development expendilllre and interest on mortgage loans to finan the scheme up to the date of practical completion. Expenditure on schemes whh are subsequenty aborted is written off in the year in which rt is recognised that a scheme will not be developed to cLsmpletion. Fixtures, fittings and equipment Assets donated to the Charity are not induded in Ihe Ban Sheet other assets are included at cost. Depreciation Depreciation is calcuLated so as to write off the cost or valuation of an asset less its residual value, over the usefvl e0)nOm lrfe of that asset as follows.. Land and buildings Fixtures and Fittings 2% straight line 25% reducing balance Inveslments Unlisted equty investhEnts are initialty re(x)rded at (x)sL and subsequenty measured at fair value. If fair value cannot be relbty measured. assets are nSured at cost less impalmnt. Listed investments are measured at fair vaiue with Changes in frdir value being recognised in income or expendtture.
Page 12 Shepton Mallet United Charities Notes to the Financtal Statements {corth Year ended 31 December 2023 Accounting policles (continued) Impairnient of fixed assets A rewew for indic2tors of impaim*nt is carried out at each reporting date, wtih the recoverable amount being esbmated where such indicators st Where the (3rrying value exceeds the recoverable amount. the asset ts impaired ao))rdingly. Prior impwrments are also reviewed for possible reversal at each reporting date. For the purposes of imFk2imt testing, when it is not possible to estimate the recoverable amount of an indwidual asset an estimak rrpde of the rVerable armunt of the cash-generating unit to which the asset belongs. The cash-generab.ng unil is the srnallest identifi'able group of assets that includes the asset and generates cash inflows Ihat largely independent of the cash inflows from other assets or group5 of assets. For impairment testing of goodwill, the gcthill acquired in a business combination is. from the acquisition date. allocated to each of the $h-generating units that are expected to benefit from Ihe synergies of the combination. irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financkal liabilty i8 reccgni%ed only when the charity becomes a paty to the cntractUal provisions ofthe instrument Basic financial instruments are inthlty recognised at the anK)unt [Nable or payable including any related transaction (x)sts. Current assets and current liabiliti'es are subsequenty measured * the or other ¢sIderatIon expected to be ld or recerwed and not discounted. Debt instruments are subsequenty measured at amrtised cosL Where investments in shares are publicly traled or their fair value can otherwise be measured reliabty, the investment is subsequentty measured at fair value wtth changes in fair value recognised in income and expenditure. All other such invesbments are subsequently measured al st less impaimient
Page 13 Shepton Mallet United Charities Notes to the Financial Statements (conthjw Year ended 31 December 2023 Accounting policies (¢ryrfiTrued) Financial instruments (contsn Other financial instruments are subsequenty measured at fair value, wylh any changes recognised in the Statelnt of financial acttvthes, with the exception of hedging instruments in a designated hedging latiOnshIp. Financial assets that are measured at cost or anKSed cost are reviewed for obltIVe evidence of impaiment at the end of each reportÈng date. If there is objective eviden of impaien[ an impairment loss is recognised under the appropriate heading in the statement of financral activities in which the initial gain vras recognised. For all equty instrUnts regardth of significan, and other financial assets that are individually significant, these are assessed indldUa1ty for impaimient Other financial assets are either assessed individually or grouped on the basis of similar cxedrt risk chara(erisbcs. Any reversals of impairment are reccgnised immediately, to the exlent that the reversal does not resu in a carying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previousty been re(x)gnised. Charitable activilies Unrestrthj Total Funds Unrestrrted Total Funds Funds 2023 Funds 2022 Rents and ser¥e charges Income from charitable activitses 56.473 403 56,473 53,030 30 53,030 30 56.876 56,876 53,060 53,(60 Investment income Unrestrthd Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Income from listed Inve5trrnts Bank interest receivable 1,565 7.755 1,565 7.755 1,441 614 1,441 614 9,320 9,320 2,055 2.055 Expendltum on charitable activltles by fund type Unrestrc*ed Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Provision of housing accomrnodation Support wsts 51.034 6,912 57,946 51,034 6,912 57.946 40,691 3,420 40,691 3,420 44,111 44,111
Page 14 Shepton Mallet United Charities Notes to the Financial Statements (conbn4*dJ Year ended 31 December 2023 Expenditure on charitsble athilS by aclivty type undertaken diredty Support Total fvnds costs 2023 Total fvnd 2022 Provision of housing acComrmJatA Govemance costs 51.034 51,034 6,912 40,691 3,420 44,111 6,912 51.034 6,912 57.946 Anatysis of support costs Total 2023 Total 2022 Clerk expenses Finance costs SubscriptKsns 3,981 2AOO 531 309 2,532 579 6.912 3,420 Net gains on investments Unrestricted T(rtal Funds Unrestricted Total Funds Funds 2023 Funds 2022 Gainslllosses) on listed investrnents 12.660 12.660 351 351 10. Net incorne Net income is stated after chargingl{credrting)." 2023 2022 Depreciation of tangible fwl assets 10.607 10,61X8 11. Independent examination fees 2023 2022 Fees payab to the independent examiner for. Independent examinab'on of the financial statements 2,070 1,980 12. Staff costs The average head count of emptyees during the yearwas 2 {2022.' 2). No employee r1Ved employee beneffts of rre than £60,000 during the year (2022.. Nil). 13. Trustee remuneration and expenses No mneratiOn or other beneffts from employment with the Charity or a related entity were receNed by the trustees",
Page 15 Shepton Mallet United Charities Notes to the Financial Statements (cothinwdj Year ended 31 December 2023 14. Tangible fixed assets Land and Fixtures and buildings fftkn'ngs Total Cost At 1 January 2023 and 31 December 2023 Depreciation At 1 January 2023 Charge for the year At 31 December 2023 530.223 2,000 532.223 53,020 10,6¢)4 1.997 55.017 10.607 63.624 2.000 65.624 Carrying amount At 31 December 2023 466.599 466,599 477,206 At 31 December 2022 4T[.203 The housing land and buildiTrgs are owned freehokl or on long LeaseId (999 year leases) by the charity. The Trustees o>)nsider that the market value of the freehold land and buildings is in excess of the amount shown in the financial statements but. as these awts are used in the Charity's business and no disFw5s are envisaged, the excess is not quanttfied. 15. Investrnents Listed investments Cost or valuation At 1 January 2023 Additions Fair value movements 230.271 12,660 242,931 At 31 December 2023 Impaimient At 1 January 2023 and 31 December 2023 Carying amount At 31 December 2023 242,931 230,271 At 31 December 2022 All investments shown at*ve are hekl at valualion. Finan¢ial assets he at fair value Investments have been stated attheir market value as at 31 December 2023. 16. Creditors: amounts falling due within one year 2023 2022 A¢¢ruals and defeffed income 2AOO 2,580
Page 16 Shepton Mallet United Charities Notes to the Financial Statements (cc¥rfin Year ended 31 December 2023 17. Voids and unlts of accommodation The nottonal void for the year ended 31 Dmber 2023 was £2.421 (2023 £1,371). The Chanty provided 12 units of 0mMOdat)n at the year end12022- 12 units}. 18. Analysis of ¢haritable funds Unrostri¢t8d funds At 1 Jan 21723 Gains and At (losses) 31 Dec 2023 Income Expendtiure General fi]nds 885.819 66,196 157,946) (57,9461 12.660 906,729 885,819 66,196 12,660 906.729 At 1 Jan 2022 Gains and At (losses) 31 t)ec 2022 Income Expendrture General funds 874.464 55,115 {44.111) (44,111) 351 885,819 885,819 874,464 55,115 351
Page 17 Shepton Mallet United Charities Notes to the Financial Ststements Year ended 31 Ikcember 2023 19. Anatysis of net assets between funds Unrestricted Totsl Funds Funds 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 466,599 242,931 199,599 {2,400) 9Ch5.729 466.599 242.931 199,599 12.400) 906.729 Unrestricted Totsl Funds Funds 2022 Tangible fixed assets Investrnents Current assets Creditors less than 1 year Net assets 477.2C 230,271 180.922 12.5801 885,819 4TI,206 230,271 180,922 12,5801 885.819 20. Contingencies Grants were received by the unincorporated charity Shepton Mallet Untted ChaTiti"es (registered number 236426} from the Housing CO)ration. now knowr¢ as Homes England. for the refurbishment of the Wi¢kham Almshouses. the refurbishrnent of the Church Lane Almshouses and the purchase of the Milliner Court Amshouses. The total advanced was £419,170. These grants are only repayabte rf a relevant event occurs such as the sale of an almshouse. On 7 October 2021 the CIO was approved as a registered provKler of social housing (registration number 51421. Deregistraiion of the unincorwrated chatÈty Iregistralion number A0482) occurred during 2022 after the trar6fer of assets and funds to the CIO on 1 January 2022. As a relevant event had not otturred and there was no obligation lo repay these grants the figu$ for the unincorporated charity were adjusted to release the grants to reserves and the 2021 accounts were restated. As a relevant event may ocLur in the futute they have been disclosed as contingent liabilrt]"es.
Page 18 Shepton Mallet United Charities Management Infomiation Year ended 31 December 2023 The following pages do not form part of the financial statsments.
Page 19 Shepton Mallet United Charities Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Income and endowments Charitable activities Rents and Se1 charges Income from charitable activities 56,473 403 53.030 30 S676 53.060 Investment income Income from listed investments Bank interest receivable 1,565 7.755 1,441 614 9,320 2,055 Total income 66,196 55.115 Expenditure Expenditure on chaiitable activities Warden costs Ground rent Current maintellan (x)sts Insurance Legal and professional fees Depreciation Bank charges Sundry expenses Clerk expenses Accountancy fees Subscriptions Total expenditure 3,075 225 32A82 2,557 1.1)04 10,607 298 786 3,981 2.400 531 3.021 75 19,800 1,930 4,499 10,606 760 309 2,532 579 44,111 Net gains on investments Gainsl{losses) on listed investrnents 12,660 351 Net in¢omo 20,910 11,355
Page 20 Shepton Mallet United Charities Notes to the Detailed Statement of Financial Activities Year ended 31 December 2023 2023 2022 Expenditure on charitsble activities Proviston of housing a¢¢ommodallon Activitios undertaken direcdy Warden costs Ground rent and room hire Current m&ntenance costs Insurance Legal and professional fees Depreciation Bank charges Sundry expenses 3,075 225 32.482 2.557 1.004 10.607 298 3,021 75 19,800 1.930 4,499 10,606 760 51.034 40,691 Governance e¢)sts Clerk expenses Accountancy fees Subscriptions 3,981 309 2,532 579 531 6.912 3.420 Expenditure on charitable a¢tivities 57.946 44.111