RECISfERED CK4RtTY NUMBEIL. 1175843 REFoKf OF THETRusfELS AND UNAUDITED FINANCLIL ATEMENTs FOR THE YEAR ENDED31 MARCH 21)24 FOR THE HOUGHTON COMMUNITY BENE FUND
TH8 HOUGHTOiY COMMUNITY BENEFIT FUND CONTENTS OF THE FINANCIAL sfATEMEIYTS ror."the Year Ended 31 M*reh 21)24 RertrfItse Trnstees I to 2 Statement'of Flnanclal Actlvltles Balanc¢ Sh¢¢t Notes to the Flnattelal Stltements
THE HOUGHTON COMMUNITY BENEFIT FUND REPORT OF THE TRUSTEES ror the Yer Ettde4131 Msreh 21124 The trusiees present thesr report with the financial ststements of the charity for the year end¢d 31 Mh 2024. The tru5t¢¢s have adopt the provisions of Aceounting 8tMi Reporting by Ch8ritie$: Statement of Reeommended Practice appliethle to charitie5 preparing their accounts in accordance with the Finw¢ial RqrtIng Stend8rd applicable in the UK and Republic of Irel8nd IFRS 1021 (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectlves alms attd gr8ntrngklng The ObJts of the Charity are tD providegrants forthe benefitofthe parishione]s1?vingin the p8rfsh ofHoughton. Hampshire. The maknng of a 8rant 15 initiated by an iThiividual parishioner or an institutkon having ¢lose ¢onne¢tioD with the parish applying tothe trustees in aset fom)aL The tswsttts mak¢ a decision on whetheragrant should be made and have a checklist of objectivei that the w¢ should satisfy. In deciding wher to make a grdnL the trustees have rewd to the Tharity Commission'$ 8uid4n¢¢ on public benefit. The ants so far mad¢ are all nnerted with the parish and activities conducloj therein. FINANCIAL REVIEW FknAItCl81 r¢vlew The fin#ncial position of the tharity is shown by the financial statements attach to this reporL The charity was funded initially by receipt of a donation from developers of a solar fami locatd within th¢ parish bowKlarie5. 1¢sS C¢rtain 1¢881 expenses. The chatity is not actively sceking further furtds by fiujdraising tIvIties. Investment pollcy 8nd reserva The Trustee5 considerthat in view of its substantiai endowmen4 2nd theone•offnature ofthBt sourc¢, the filljds of thecharity should be ayallable for the benefit of its objtIveS over a ¢ortsiderable period. Accordingly, the g]raier part of the reserves of the charity ar¢ held in unit trusts for the medium tenn. However. where the Trustees consider it appmpri8K grants may be made in excess of th¢ snnual income of the ¢haTity. The reserv¢5 at the year end of £551.315 (2023 - £553.984) are therefore held in fvifilment of this policy. IDvesémeTrt perforniDc¢ The trusters decsded that the inv¢5tm¢nts hdd forthe long ttm) should b¢splil between a fill seeking some prOtiOn in the event of a severe downDJrn iti the markets and a fund aiming to achieve steady long term T¢tyrn. In the year und¢r r¢view. despite the funds decreasing in value in line whth the maTk¢ts, th¢ trustees nsider that thi5 mix continues to prove its worth overall os the investments have increased in valu¢ ov¢r811 substantially sin¢¢ th¢y were made in 2018. The trustees wll Cthltiny¢ tt) review regularly the progress of the investments. STRUCTURE, GOVERNA]¥CE AI¥D MAI¥AGEMENT Governlng docMent Th¢ charity is a Charitable Incorporated Or88nlsation and is governed by Its CLNJStituÉloA. It w&% fomied ¢m 21st Nov¢rnb 2017. Appoinknent of trustees The trust may have a maximwn of 9 trust¢e4 of whom the constitution requites that 2 are nomina¢¢d by the Parish Council and one each by th¢ Paro¢hial Church Council and by the Vi1188¢ Hall Committee. The Main1ng trustees have been aptK)inted with a view to providin8a wid¢ scope of lo eA)ntact andlor nec¢5wy knowl¢d8¢. REFERE]YCE AND ADMINIRATIVE DETAILS Regist¢red Charity number 1175843 PrIn¢l1 address Blaek]ak¢ Farrn Houghion Stockbridge S020 6LT Page I
THE HOUGHTON COMMUNITY BENEFrr FUND REPORT OF THE TRUSTEFS for the Yogr Ended 31 Marth 2024 Trnsteej IPBurt J M Scougail M J Woodhall R J Priestley M J Bryars L Aitken D A Lewis E Sed8wick A Dougall. Bnkerd Lloyds Bank plc PO Box iorxi Andover BXI ILT Approved by cderof the bd oftrustees 13rd May 2024 Wld its by:
THE HOIJGHTON COMMUNITY BENEFIT FUND STATEMENT OF FINANCIAL AcnvmFS for the Yur Ended 31 Mareh 2024 31J.24 31.323 Unrestri Unr¢5tricted fund INCOME AND ENDOWMEKfs FROM Donations and legacÉes Invesknvmt income Totsl &436 EXPENDITURE ON Chritsbl¢ actlvitks Grants CLMu¢t¢d with Houthton Partsh I l J47 657 Total N¢t gaIn(loSseS) on investhients NET INCOMFJ(EXPENDITURE) 11669) (25.7201 RECONCILIATION OF FUNDS T)tal funds brnllght forw•rd 553.984 579.704 TOTAL FUNDS CARRIED F1)RWARD 551 553 The nc4es fonn wof these finwjcial 5tstan
THE HOUGHTON COMMUNITY BENEF FUND BALANCE SHEET 31 Martb 2024 31.3.24 31323 fund FIXED A&SETS Imiestsnents 521.696 526255 CURRENT ASSETS C&sh at bank 29.619 27.729 CREDITORS Amounts falling due within ye NET CURRENT ETs TOTAL ASSETS LESS CURRENT LIABILITIFS 551J15 553.984 r4Kr A&SETS 551 08 553.984 FUNDS 551 TOTAL FUNbs 551J13 5S3.984 The fin•ncig1 statements were apwoved by th¢ 8(wd ofTn&ees and aydK1ri5AI for i55u¢on Dld May 2024 were si iin its behalf by: AJBryars.Th
THE HOUGHTON COMMUNrrY BENEFIT FUND NOTES TO THK FIIY ANCIAL STATEMENTS for the Year Ended 31 Mareh 2024 LEGAL FORM OF CHARITY The Houghton Community Benefit Fund is a Charitable Inconmted Or8anisation giStered in England. Its registered charity number is 1175843 end its principl address is: Blacklake F¥rm HoughtOTt Stockbridge S020 6LT ACCOUNTING POLICIES BASIS of prep8rlng the sthtements The fin2ncial statements of the charity, which is a public ixnefit entity under FRS 101 have been prepared in accordance with the Charities SORP {FRS 102)'Atcoutttin8 and Reportin¥ by a]tiriti&%: Statemertt of Recommended Practice applicable to Charities preparing th¢ir aOunts in accordance with th¢ Financial Re[ing Standard applicable in the UK and R¢public of Ireland IFRS 1021 (efftiv¢ l January 2019).. Financial Reportlng Sthndard 102 Th¢ FinJn¢ial R¢portin8 Standd applicable in the UK and Republic of Ireland, and the Charities Act 2011. The rinancial statements have been prepared under thehistorieai ¢ost¢onv¢ntion. withthe exception of investtnet)ts which are included ai mat*et value. as modified by the r¢valuation of certaln assds. ID¢ome All income is rQgniSed in thc Ststement of Finaneial Activiti¢5 on¢e the ¢haTity h&8 entit]ement to the ffijnds. li is probAble that the income will be received and ihe amount Can be me&sured reliabfy. Expendifvr¢ Liabilities are recognised &$ eXpe1ltU as soon &$ ihere is a legaj or eoAstructive obligation committing the Charity to that expenditur4 it is probable that a transferof economic benefits will be required ip settlement and the amountof the obligation can be me&wred reliably. Exnd1]re is for on an awruals b15 and h&8 been classified under headings that awegate all cost r¢latgJ to the category. Where costs caTtnot be dircctly allributcd to parttcular headings they have been allocated to aciivitie5 on 4 basis corsistent with the use of resources. Grants offered subject to condilions whi¢h have not been met at the year date are noted a5 aMMItmen¢ INtt not ru¢d as ¢xp¢nditUT¢. Tsx8tkn The eharlty is exempt from tax on Its ch8ritsble activities. Fund 4¢COUntlDg Unrestricted funds can be used in e0rd81C with the charitebleobjectives at the discretion of the tnle£s. Restricted thnds can only be used for particular restricted purposes within the objects of the charity. RestrilOnS arise whet) spxcified by the donor or when fimds aT¢ rats¢d for particular restricted purposes. Fwtherexpi¥nation of the nature alkd purpose of eath fund is incluw in thE notr5 to th¢ fLn8n¢ial statements. continued...
THE HOUGHT014 COMMUNITY BENEFIT FUND NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued for the Year Ended 31 Mareh 21ll3 INVLgTMENT INCOME 31J.23 31.3.22 Distributions from unit trusts Deposit awunt interest 7.914 522 7.773 150 TRUSTEES. REMUNERATION AND BENEFITS There were no trusteog remuner¥ion or otr ben¢fits for the year ended 31 March 2024 nor for the y¢aT ¢ndeil 31 Mar¢h 2023. Trthatees, expthlses There were no trLtstees' exp¢TW paid for the year ended 31 March 2024 nor for theyear ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted INCOME AND ENDOWMENTS FROM Investmettt ineom¢ TOtAI 7.923 EXPENDItURE ON ChArlt8ble 4£tlvltlEg Grthts connedvj with HouEhton Pwish 11.547 657 Total 12204 Net losses Oti inveskn¢nts NET DEFICIT (25.no) RECONCILIATION OF FUNDS t•t*l fuDds brougbt forward 579.704 tOTAL FUNDS CARRIED FOkWAkD 55J 934 Pdge 6 continu...
THE HOUGHTON commuNy BEP4EFIT FUND NOT TO THE FINANCIAL ATEmErs- ¢omtknued for Iht Ytsr Ended 31 Mreb 21124 FIXED ASSET INVESTMENTS ITwesthients eMipris¢ holdings in open eThJed inve5thiart fijnds with a eostof£450.000 {2tr23. £450.000). They are stated in the fin8n¢iai #ements at market •Ale at the year £526255 {2013- £526255). The deuc i valuation during the year of £21,439 (2023- decreay¢ of£21.439) is to the inc(mw for they¢ar. CREDITORS: AMOIJNfs FALLING DUE wmiii¥ ONE YL4R 31J24 31323 Trade crpJitOT5 Other creditors MOVEMENT IN FUNDS Net movement in fimds At 31.324 At 1.4.23 Unrestrleted fvndl G¢neI fund 553.984 (1669) S51J15 TOTAL FUNDS 551315 Net movernent in fimd& included in the 8ih)veare ts follows: IrKomin8 Rtsourrt5 Gains and Movement irt funds UDreAtrirted &436 (6J46) (4J59) 12,669) TOTAL FUNDS 59 Compgrativa for moveme•¢ h fwpds Net At 31.323 At 1.422 funds UDrestrted f•ds General fund 579.704 (25.720) 553.984 TOTAL FUNDS 553 984
THE HOUGHTON COMMUNITY BENEFIT FUND NOTES TO THE FINANCIAL sfATEMENfs- eomtlnued for the Year Ended 31 M8T¢h 2024 MOVEMENT IN FUNDS- ¢oDtIDued Comparative net movement in fimd& included In theabove are as follows: lfteomins resourees Gains and losses Movement in fund5 expered UDrestrICt funds General fund (12204) 121.4391 125.720) TOTAL FUNDS 12 The charity has only one nd representing all Its assets. In accordance with the requlrements for the oUnts of haritiA that fund is shown as ageneral fund and wrestri¢ted. This means that the Charity fuThJam¢ntally ¢omprises one fuT¥J representing all its &S5ets (after deducting any liabilities) And that fvnd may be used the Trusrees consider proper to satisfy the objects of the chBrity. RELATED PARTY DISCLOSURES There were rto related party for the year ¢Trd 31 Mah 2024. Page 8