REGISTERED CllARrtY NUMBER: 1178J17 REPORT OV THE TRL.STEES AND UNALDITED FINANCIAL sfATEMEhTS FOR THF. YF.AR Ei%DED 31 MARCH 2024 FOR QLEENBOROLGH FISHERY TRusr MGC•be Ford WilJiaT (Jwtered Charl￿n Housc Dow Stteet Kenl cr16 IBL QUEENBOROUGH FISHERY TRUST cor(rEhTS OF ThE FPiLYCIAL STATEMEras OR THE YEAR EPIDED 31 MARCH 2024 P*ge Ref¢rMc¢ •nd Adth15tr•tlv¢ Det•lls Report ofthe Trust IndepeRdtnt Ex*mllleVJ Rq>ort Statement of Flnaneial Activities B*l*nce Shttt Notes to the Knanciil Ststements Ikt#lled St#teDXDt of FiD*oci*I Actmlles 19 QUEENBOROUGH FISHERY TRUST REFERESCE AND ADTrltyisrRATIVE DEfAtLS FOR THE YbAR LNDbD31 MARCH 21124 TRusfEES Dr F. J Wilcox M Gales tr5LVi MTS S Sijnpsory Ms J Consthble Mrs A Ryback D Ikwar-WbaU¢y N Field PRINCIPAL ADD 15-17 Pres￿ll Stre Ken¢ Mbl3 8NZ Rb(yltsl'LKLD CHARITY NVMBF.R l 178117 ¥DKPLNDENT F.xA￿l]%ER MGCib¢ Ford Willi8tt1 Chartcred Acwuntants Ch2Tlton Ik)us¢ TX)ur Stye¢t DOVER Kcnt CT16 1111. SOLICJTORS Bth LLP SoM￿ficId Ho 59 Ix)ndon Road Mwidthne Keol Mt. 16 8JEI QUEEf4BOROUGH FISHERY TRusr REPORT OF TRLTsfELS FOR THE YEAR EI4DED 31 MARCH 2•24 The tn]stees present ther reyjrt with the fmaDcial of the ckniry for th¢ yw ellded 31 March 2024. The Iruslee5 hav< adopted the pruvi5iutss of AccouThtills aDd Rtrknitstsg by CJJaritses'. Sthtement of Recommended Practice applicabl¢ to chariti¢s preparing their acwullts Én accordAnGG with FiDanci81 Rwrtiog Stsjjdard applicabl¢ in the UK and R¢public of Irtlgnd (FBS 102) {cffcctive l January 2019). OBJECTThIS AND AcrtVlTJFS Obje¢tives #nd priMtlp*l i¢tlvltlt$ of lh¢ Qu¢etyboMu2h Flshery Tnut {QFr) The objectives of the charity art.. ) The pr¢v¢ntion OT r¢licf oftfftrty and sick]￿sS iti the 8rea of bellefit {ittC1￿]n8 in parricular th¢ 4r¢4 of th¢ foTmer Borough of QueentOr0￿ghI by providing gTrnts, iterrk4 ond servi¢¢s w individuats in ned an￿or chaTiti¢s or other or8onis*ions WOTkn'tyg to pr¢venl or ￿li¢ve w)vttty or sickness. b) The provision and sUPPOrt of fxilities for th¢ Tccrration other leisuTe•iithe occupation ITh the interejt of social welflltt gtsd with the object of improving the coDdiiion ofiife of the inhabitsnts of th¢ ar¢o vf benefiL c) To advance the education in the areaofbeneffit by providing and a55i51ing in the provisioll of facilitie5 foreducation. dl To ￿rther Such other purpo￿5 thioh may bc chATitAble ac¢orOing to the lawof s￿1 Wales 15 th¢ tNst¢es se¢ rit from limt Its time to the benefit of the iDhabitsnts of ihe areaof benefiL Provid¢d always thal $u¢h purposes sh￿[ not extsnd purposes for whi¢h provisioti 18 made out of rate5. t&xos or other publi¢ fund ¢x¢¢pt in ¢x¢otion41 ¢ir¢umstances in theopinion of the trn51￿5 justify $uth further provision. Th¢ ¢harity'5 #T¢1 ofbemfjt includeg the Isle of Sheppcy. the towns ofFaver5hwn 0￿j Sittingboum¢ and thc pari$he5 of Dapchild., Llobbin& Bordcn,. Bou8htOnwundeT Bl¢an,' Bwdgar Ihddith8tw' Dunkirk.. fAStling' Gravcncy atld Goodnosttsne,. Itsrtlip, Tlemhill,. Jwade: l￿Wer Hajsknw. Lud¢knh#ffl,' Lyn$tcd aDd Kin8sdow Milstead: Newington., Norton. Eluckland and Stunv. (hre,. l)YPTing¢,. Onenkn; RodmL'rsham,' Selling,. Sheldwrych: Bad1￿MerC Itavcland., Sialtsfi¢ld; T¢ynh#m', Throwley., Ton8e.' Tuns¢all' Bnd Upthurrh, ￿1 in the County of Kent and All as al I Seplember 2017. Pthbllt b¢tt¢llt Tlie charity a¢knowlcdg¢s ils r¢quir¢m¢ni ty de[[￿TL￿trate clearly that it musi Iwe charl￿b]e purFx)g¢s or'aims. Ar¢ for th¢ public b¢rtefii. Details of how thc trusi has achicvcd thi$ •ft provided in this ffwrt. The t￿￿$ Confimi they have paid duc rcgard to th¢ Charity Comrnission 8uidance on public benefit before de¢iding what a¢tiviti¢5 th¢ ¢h4rity should undcrtake. Page 2 QUEEhTOROLGH FISHERY TRUST REPORT OF THE TRLTStEES FOR THE YEAR E%I>ED 31 MARCH ￿24 ACHIEVEMINT AND PERFOR￿￿ATrICK Cb*rit8ble #etlviti*s Thc chgxitys income continued to from the issuing of licencts r¢ntsi of ptoputy during the year, toEether with inves￿¢￿t itKome. During the y¢ar. th¢ cbarity agjin rettiyed A sul>stantial nurnber of kpplitat10￿ forgranrs and thc tn￿ •pproved 45 awards12022123- 28}. These grants are detai]ed itt the wtcs to the on pag¢5 12 to 14. All 8raMS b2ve been issued to Organizations or individuNls to fiuther the C￿l￿S cJh•rilable putyoses for public b¢n¢fft by ¥nsurin¥ the applications Me￿ at le&8t onc of the objectives lilled uJ￿¢r tJ* htadiTrE Objectives and Activit1¢5 on pag¢ 2. As in past years. a nurnber of8r1￿ 3pplic*iiJns were de¢]itt¢d by tht tsV51eegon the grounds did noi fumher the charity's charitable purposes. George Webb Finn (GWFI, Clwl¢Td Swvcyon, of Sltlill8knw￿ ¢ontiDued a5 the tru5¢$ lthd agent uiryin8 Out related duties attd supporting tswstecs, agreed policy of optimiziD8 iuwm¢ frorn theAr range ofiand knldings. Kcnt-ba%d M¢CAbe FoTd Williarns. Chartered AccouLtants. cotitinued ty provide accountaw %rvirw tu the ￿￿treS.. the Oculus Wealth Marnagemcni GTOUP provid¢d inves¢m¢nT Ind fffj•n¢ial savi¢es to th¢ RobBrt5 Cliffor4 th¢ trus¢'$ previous provider, having bem absorbed within thai group. A fvll ran8e of r¢l¢vaTrt insurance cowages retllAincd in pl￿ throughout the periol arranged th¢ Wat¢rho GTVUP iTh¥uranc¢ br0ken8e. of Rochesler. Brachers. Solicitors. ofmaidstone. ¢ontinue4 to prowde le8al setViCC5 to the truste￿ foljowing theirappoinlrn¢nt in M*y 2022. Al noted in the 2022r23 Tew)rt, trus1¢￿ sold at a stre*h of tidal wwenThy by SiaDl¢y Av¢nu¢, (b¢en￿rOush, h8vin8 r¢¢0￿1Z¢d owiership of it did not fiwthcrthc objects of th¢ ¢kn•rily And eoyld not [•￿$¢£1b1Y do so. Proceeds of thc 5alc W¢T¢ rcG¢iw¢d durinB the 2023124 period and wcre retained (or inve￿￿¢￿1. NtBOii#¢ioN hiving be¢n w￿lUded ID 2022f£3 with Swale Borough Couttcil ISBC) rt8•rdin8 purclwe of a srrip of SBC land contl8uous QFT property off SI ￿¢bac1'S Ro*J, Sittith8bourne. the pvrch&se wa5 complet*] in 2023Q4. Subsequently. trustees A¢¢epted att off¢r for fv ￿r¢hI* of dl ofthe QFfs Si Michael's RO￿ prtpery. The sal¢ w&$ ¢nmpleied during 2n2.1124. Trust¢c$ had in 202￿5 p¢rmi¢tcd both .8outhern Cftas Nehvorks {SGN) and Southern A¢CeS$ to trwst propety clwe to the Kin8sfeny Brid8c for r¢n¢wal of 8J5 and w•￿T m•ins r¢$pectiv¢]y knween the Isle of Sheppcy and th¢ m8iniand. SGN COnLrn¢nwi woth site durittK the period, with an Ent￿&1 fe¢ pwd ¢0 the 1Th5t atsd a fuTther fee due on completiort. It was ithdcrstood the two agencie5 would $eq￿nI•S11y, wilh Sollthern W&er onsite aftcr complction L)f SGN works. Trustees COJhtinued lo ￿¢8￿late with the ￿￿en￿&T0￿%b Hart￿ur Tntyt IQFrr) regArding inclusion of Queenborough Hard in the QHfs lease of QFt for¢thr¢ and scabed for the operaiton of moorings and associated SeN1￿5. Th¢ QHT propo$Ed a packtt8e of 8ssociated mcasures. IDcluding the e$¢ablishment of a'SLnkin8 r￿d, for repair and maintctlnn￿ of thc structur¢. Tbc QFT board agrted thDse prowls with some sugguted wnw1￿.. thi5 oommunicated to the QHI. attd a reply and further Hrd ronlinued to have a fvll Éwl¢ii*nL Page 3 QL.ERNBOROLGH FISHERY TR17ST RLPOKT OF ThE'I'RL'SIlFS FOR THE YEAR LYDED31 MARCH 2Q24 FINANCLIL REVIEW Financial w$itio QFT incorne cothtittued at the enha￿￿ levels thttt have applied since the 2011112 finwKiai year. GortiDued to r￿08￿11¢ thaL whil¢ work to div¢rsify itLwm¢ 15 in harO. th¢ majority of QFf income COntiD￿ to be from j￿t one lease. To address this. Tn￿tee$ contiDued with thetr long4en￿ ￿lICieS a￿{ atthRt time at￿ revisited w&odically, as described below. lllvertmellt poli 'I'DJst¢¢s had Ttcggnisgd that in 201 1112 WMI onw4Tds 98% of QFT derivoj from one cotLtr8ct on one property holdin& It was wrL8idettd having just one. time Iltnit￿. major income stre4m constibjted a risk. TrLL¥¢ew' adhwoce lo the a￿ed fjnallcial 5trd*8ies had by the tiJDe of seuLll8 the 2023124 budgct, red￿ed to ¢.75% of tots] wiu81 inc¢)me the Tevenu¢ frotD that siDgie le•se. Trusl¢¢s a8ain ¢oThtinu¢d to work kn opimize in¢ome fivm their over*]I rao8e of lalld Fw)Idiw pritDHriJy via the exp¢ri independent land agenLy and leg￿ serviGcs providcd by GWF and B￿hrys. Al the same timc. trustees recogni7.ed that reaiizaiion of the capital value of certain prOt￿rtIc$ may bc of greater uulty w the tntyi than th¢ Cwffni rent&ls they With thut in mind. trus*¢s agr¢ed to place the proceeds of sale of land at Sl Michacl'5 Road, SiUin8i¥Jurne, ttnd 8t Stanl¢y Av¢nu¢, Qu¢¢nborouth inlo th¢ InV￿1n]ent p)rtfolio. This furthered t7￿ces. aim of safeguarding and diversifying the orrs overall income ser￿TatIOn by se¢kin8 kn xhicve frJtur¢ iDwm¢ from J)on-[￿d in¢om¢ streams. 11 T¢Gognittd it rnight b¢ PTUd¢￿t 10 Sthrt to t•k¢ l￿d¢st locom¢ from th¢ wnfolio in coming yelts to offset reducing rental incomes. To assist with achievement of that Dim trus￿¢$ mointsined their PK>li¢y of bllilditt8 * dive¥sifiel investsnent portfolio, with holdins$ in ¥4UltiLs, bonds. eic. Workin8 Wlth Oculus Wcalth ManagemmL th6 tNsis fJnwi¢isl advi￿, InJsl¢¢s rccognizcd that foThin8 a lar8¢r portfolio would make the trust eli8ible for access to a wider range ofepporturuties. It &8reed lo explore those opportunilics with Ca7inove, • charily Invests￿ m￿￿erth81 works with mor¢ th#n 1,700 ¢IL4rit4ble tTU$t5. 'I'ruste¢s agr¢ed Ln-PTin¢ipl¢ to fomi sth ¢XP4Dd¢d tknrtfolio ￿1n8 caL£r￿ve,5 txpcrtiK and lat¢r ¢ndorsod & d¢tsiled proposal from Oculus and Cazenovc to 5¢t that up. traThsf¢rrin% the exisiikA ￿)rtfoliO into the new vehicle. Toocther with sale proceeds. givin8 a total value ofmore than £]￿￿1]]￿n. Work $tsrt¢d on that set tsp prior ￿ the end of the period. It continued to be trDStecs' intention thaL D3 w¢ll 15 adin8 L8 ￿rk1Th8 reserw these iftvestsnents W￿ll1d build (he fin•tt¢1￿ 4¥s¢ts of th¢ ¢twity in order lo provide s￿￿￿ble and trvJre dTveTae illc4)rne over the lo￿ ￿MI. Retllrns to date for the choritys investments continued ty be considered by ffiistres ty be ¢on5Isr￿￿lY sNtisf4rtory. ReJtrvts polky Reserve$ are mHinlaiiJcd by the Gharity for Wntinge￿ie1 c&sh fiow rnarwent and for protsctson of its 4bility to Continue lo undErtake its activities in the lon8er-tenn. It is recogniscd by trustees thatthe investtncnls TefeThtd to ID Invest￿ Poli¢y th)v¢, 81$0 ¢x)Dstiiut¢ a r¢s¢rve that he ￿￿ed for ptrrA)ses idetttified. Itwestn%Dts held irL fo￿￿* that rncan tIKy atc ru]iubl< Ivithin timesrn1¢s appropllate to ¢h05e pwposes. QFT cash flow LS managed Viv4 a bank aurrnt 3wunL itsiJJ8 balances th81 are llo( eam)8thd for k)n£er4em) invesknt or otheT purposes. Rernrily, substantial ¢osh SUTn$ ￿sIng from propety sales. trnstC¢5 to opEn ary inteTe5L-bcxTin8 35-day account *NatWesL tooperate aloJJ8side the ￿r[entaC￿Ullt. Results The Ch￿Ity's income from tontmwn8 operatiotL8 forth? yearvrn5 £193.951 {2022r23- £193,988). Direct choritable expettdittue relating to this iDcomc wa5 £130.913 (202￿3 - £120.256). Otkn ewnditsJre totsiled £45.113 {2022r23- £38,553). Totsl funds were valued at 31st MaTth 2024 at £3.848J5812022123 - £3.574JO8). held or at band at 31st March 2024 £6S9,97412022123 - £232.936). Page 4 QIJEENBOROLGH FISHERY TRUS[ REPORT OF THE TRusfEES FOR THE YEAR EryDED 31 MARCH 2•24 STRUCTURE, GOVERP4ANCE ￿￿D MANAGE Coverning documellt The ¢h&ity is colltrollcd by its governirbg doc￿￿ a deed of trus¢ th¢ ttu%t is & (hritable Incorporatsd (hganisation {cIo}. R¢Crultty¢￿t Appol￿tMent of Dew tn￿teel Trustees are appoinitd for four-year tertns ocoffitt. trll￿ are nominatd by {￿eet11￿)r(yjgb Tovm Coun¢il attd ei8ht are rectuited fromthc charitys aT￿of b¢n¢fi¢ through an op¢fj r¢uuiimeDt Ownisationalstrncture Th¢ ¢harity is ¢otttrolled at the le￿1 by irs In￿¢$. the overall 8trthgy and diredion of the charity. The day-to-day manag¢tn¢nt is delega￿j 10 Laurettc4 Jo. Samantha ond I'racey wTrK) manage th¢ adminisir&tiv¢, fitWlCi81 and otherongoi￿g dutics in th¢ ¢lwrity opty8ti￿S. Nom of th¢x art OTh the b)ard oftsijsm. Risk minAgemtnt The trusites ttetively revi¢w. on a regular basi4 the rnajorTisk5 whidh the charity f￿¢S 4nd b¢li¢v¢ thtti bthildin8 rcscrves to agreed levets. combin¢d with att antjual rcvicw of the controls over key fitt8n¢iaJ systrms, will provide suffieiettt r¢$oyrc¢$ itt the event of adverse ￿ndItiOns. Th¢ tr￿$te¢S have 21so examined other op¢r*ional and bUsi￿sS risks faced by th¢ ¢harily and confm they bave estsblished sy5terrbS to mitiga* the $i8nirJc￿1 risk. Th¢ tn¥teu hav¢ identifled that the m&jor Tisk kn thr cbarity is Ihe reliance of the i￿0￿¢ fronh P￿[ Port8. vAJich makes up a 5igllificant thouttt of the tota] ittcome. As such the ¢haTity 1$ in procM of diversifying incom¢ str¢wJ)s miti84¢¢ th¢ risk. Hl$tory 'I'he QTr-I' WBS cstabli8bod und¢r ￿ ind¢ntyre d￿ed l9th March 1859. A new %heme for the charity esMblish¢d on 27th August 1937 placing the &dminiytrAtiort of the ctwity with the Borou8h of Qu¢ethborou8h. The charity wa5 regislored with th¢ Charity Commission on 215t Tr¢bruary 1968. Foll(Iwing lo¢a] gov¢rtuneni nor88nizatioTh itl 1974, SBC sssumed responsibility for th¢ rharity. A r¢vi¢w pf the charirys actlVLtiC5 W75 und¢rtBken in 199D and the Charity ConEmi55iOn aPPTt)ved a schcme on 26th 1 ebTuary 1991. Thp w.hr.mp WA4 *th*nde.d hy rpviliitinn IHih l.'ehnthry 2015. wheth SBC ctaKd th¢ ¢owrrf>rat¢ trN$i¢e. On lyt April 2015 thc SwJl¢ Recrtalion Trust ISRT) became a IiEth¢d thaTity QFf. &t ￿l¢b time SBC ¢eas¢d to b¢ its C*Tpor&te trnstee. The SRT effxtively op¢rat¢d )5 part of thc Qlry wryih wivities #nd *sseLS $ubsumed within the trust until the QPT s¢t up &$ 8 CIO. W￿.le the SRT then ￿llY fibsothd within the CIO, trust¢¢s r¢¢ogftiyoJ the SKI'S active object could continu¢ to k fulfilled via the QFfs obj￿ts. The SRT had ils origin5 in thc Sittingboume SwimmiTh8 Bath5 and GYMtt￿Iw￿ ¢rw¢d in 1896 in St Michael'5 Road, sitti[￿1￿￿11rn¢. The buildin85 attd land WEre lafrr ihal yur 8iv¢n to Sittin8bDume and Milton UTbgn Di%trict c.ouncil to be kept in trut for r¢crca¢ional putyos¢s. Followin8 demoliiion of th¢ swimmirtg baths grtd gymnasium in 1989 the SRT Fia5 5Ct up to en$ure rental income from the laThd wa5 for recreational purp)ses. The SRT wa5 ¢stsb115h￿ on 25th January 1994 by the Clwity Commission. The active object of th¢ SRT w￿. to SuP￿rt through gran¢ 8ivin8: -pmisk)ti of (aciliti¢5 for recr¢Rtion and othe l¢isiJr¢ lime o¢¢upatioll in thc intcr¢5t of SOCI￿ welfare the objrct of the condition of life of the ilthabitants of th¢ Boroueh of Swale (including in partiwlar the 8rea of thc form¢r Sittingbourne and Milton Urbatt Districtcouncill as the Irustees think fiL" CbArtt*ble IntortMbr*ted Organi5a¢ion A ncw charity, QuEen￿rOU8h FL8hery Trust Cb8Titable lrt&)rJx)rated Organisauo￿ knty Durnb¢r 1178117, was regtstered al the Charity Commission on 26th Aptil 2018. The cbarity set up to wutillue the charitabl¢ activiti¢8 of Queenborough Fi5hraLed Or#aDisation regi5ter¢d in ELgian& The chariWs registered numb¢r. prinGipal address alld JJ8lure of opu*ion4 ran ￿ fouDd ID th¢ Referett¢e and AdminislTative D¢tsils page and the Report of the TTU5t￿. Thr pr￿￿￿tatIo0 CU￿ of th¢ fiuan¢ial Statem￿ is the Pou￿] Ster]iD8 (£1. ACCOITNTING POI.IClkS Bgsij of PTeparillg the fth•Dd*l $t*lemtDts Th¢ finOnL]￿ siatemcnts o(tht chatity. ￿til¢￿ is a public bcn¢fit entity under FRS 102, have been prepfftd in accordance with the Charitie8 Sl)RP (TrIiS 102) 'Actounung aDd R¢wttn8 by ehaJiti¢s.' Statement of Reconmiended Pra¢iiGe 4ppJicable ￿ charitiC5 prepariD£ their accounts in accordance wth the Fitwicial Krporting Stalldard applicabl¢ iu th¢ UK attd Republic of Ircland (FRS 102) (effcrtive l January 2019),. Financial KcponiD8 Standard 102 The Finan¢￿) Rewrting sts￿Jard applicable in the UK and Republic of Ir¢l8nd' at￿ the chariti￿ A¢t 2011. The fuwKial statllnrnts have prtyAred the histori¢￿ ¢ost onv¢nlio The truglees cowider th¢r¢ ￿ no nmteriaj ￿CertAInli¢S the charit)fj ability to ¢ontinlle lls a 8Oin8 FiDaDciII repDrtlng xtAttdard 102- rtdurtd dlstloiure exemptio Th¥ ¢hurity has taken adv￿ts8¢ of the following disGlosw¢ exemption in preparing th¢sL flth8nc1￿ statements, AS penniita by l."RS 102 I".inanGia] Rwrtin8 Standard appliG&bl¢ ill the UK and X¢publi¢ of Ir¢land': th4 requir¢merLts of Sc4lion 7 St*m¢tht of C85h Flows. lllcome All income 1$ r¢¢o8Dig¢d in the Statement of Fir￿]11 Athivities once th¢ ¢￿ity has enihtjement to th¢ fwid4 it 1$ proboble that the income will b¢ rtt¢tved atd the amoun¢ ¢•n b¢ me&￿ed reliably. Eyptndlturfr Liabiliti¢5 are re¢ogthised as expeodi¢ure as soon ts thcrc is a l¢gg1 rx constructive obligation committing th¢ ¢harity to that cxp¢llditure, it is probable thal H tratL8fer Or￿nOmIC b¢n¢fJts will be rcquirtd in 9ettl¢m¢nl and thc wnount of the obliBalion b¢ me&8ured reliably. ExpendiDtre is Accnwhtcd for on In A¢¢n￿lS basis and has been classified und¢r headings th￿ ag8rcgatr ¥elated to th¢ cth80ry. Where cosis ¢atJnot be directly attTibut¢d to particul￿ headings they have Ixen aJlo¢At¢d ￿ xdtvities oll a basi$ ¢onsis*th with the USE Df rewurnes. Grants payable Are payments made to ihird parties in thc further8n¢e of ciwitablc obJ￿ts of the charilits. GTrnt¥ payablc are includ¢d Én thE Ststemcnl of Financial Aaivities whm th¢ Charities have approv¢d the exp￿￿¢. Grnits ¢ancelld. for any are rever8ed itk the p¢rKMI thatthcy are no long¢r piy&ble. InvestmtD¢ prop¢rty Inveslment prop¢rty is shown at most rec¢ni valuation. Any agg¥¢g4te svrplu$ or deficit arisiD8 from Changes in rair valu¢ is ree08th￿ed in thc stsiem¢ntof Fikw]cial Activities. QFT ow1$ an area of land ATound the Swaje. with som¢ owship datwg h¢k to the 19th C￿tUry. Pla￿# have had lo b¢ r¢constru¢t¢d from incompl¢* Tecords from the ttliddk of last ceDthry. The title to the land w45 registered fornjatly with ￿{￿ Land R¢gistry ID 2009110. In addition, QFT land at St Mich8¢1'$ Rvad, which a150 WAS registered fonDally with HM IAnd Ke￿ty ￿ 2009,'10. Part of this land h&$ been disposed of dwiD8 the year Und￿ r¢vi¢w. The land owi¢d by the QFf has been fotm31ty val￿a by th¢ir land a8ent in 2023. thi5 is thc value that has been pr¢sFnted within the accounts. Page 10 continu¢d... QUEEf4TOROUGH FISHERY TRusr NOTES TO THL VITrL)CIALsfATEMEYtS- eoxtinned FOR THE YEAR ENDEDJI IL*RCH 2•24 ACCOUNTING POIICIES. eODtinue¢l Inv¢51tlleDt property Due to the above Circ￿￿¥18￿ces it is rK)i praGtiGal to ¢AJtain the tirigu￿ costs of &98ets. wFLi¢h have been for a signifjcant length of tiTn¢, and $0 their valuation has been tr¢at¢d as deeD￿d rA>st. Subsequent %sets purchases have been iDclwJc4 ￿ ￿¥L T•x#llott The ¢tLarity is frott) tax on its charitabk adivi¢t¢S. Fnnd Accoutttinz Utirestricted funds Gan b¢ w¢d tll accordanc£ with th¢ ¢haTit•bl¢ Objecllv￿ at the discretion of the ttUSt¢es. RestriGied fiulds ¢w only be wed for pthi¢ul8r r¢stricted putPDY¢5 within th¢ objccts of the tharitycknity. Restriction5 aris¢ wh#n spe¢ified by the dO￿)r or wh¢D are raised for pirticulftrrestsicted purws¢3. Furth￿ ¢xpl*nation of the nstUTC and purFw of ea¢h fvrd is i￿luded in the DOteBto the finwwi41 statement5. lllvestm¢uts Inv￿(mentS are stated at market value a5 at the b￿￿¢¢ sh¢ei da*. The Sthtem¢ttiof Fin8ncial Actxvitirs in¢lude$ th¢ n¢¢ gains athd losses arisingon rtvaluaiion and dispos•l throughout ye4r. Re•llsed and unreAltstd zains •nd kn5e5 All gAitL8 and Ios5cs are tak¢rt 10 the %lat¢m¢nt of Fimn¢1￿ A¢tiviues asth¢y ￿lSe. Re4]Lsed gains And los$es on inv•tsn¢nts ar¢ LalLLdated as th¢ diffeience bety¥een sd¢$ proceeth and opening mwkct value Ic05t if th¢ purchaso date 15 lat¢r}. UT￿￿LSed gains and lows arc calculated a5 th¢ ditT¢r¢nce b¢iween th¢ markd vilue at th¢ y¢ar end and opening m•rktt v8lue {cost ifthe pwGbw is la￿}. ReAli%d •ttd unreaiised gains are not Separated in th¢ Si£ltmellt of FinarK]￿ A¢tivili#. IhTrTSTMEYf INCOMW. 31.3.24 31.3.23 Rents rcceivwbll Other fees & licenrts Dividend in¢om¢ Interest reccivabl¢ 156,451 27.747 4,262 5.491 155.722 32,896 4.261 1,109 193.951 193,988 CHARrrABLE ACTIVTllES cosrs Gtant fundin8 of actiwties {see note D￿ecI 51 Totsls Grants 128,009 130.913 Pagell continued... QIJEENBOKOiiGH FISHERY TRusr N(yfKsTO THE ￿.￿cIAL sfATEMEY15. contints¢d FOR THE YEAR ENDED 31 MARCH 2&24 GRANTS PAYABtE 31.3.24 31.3.23 I28.009 117.928 Pagr I2 contÉllucd... QUEENBOROUGH FISHERY TRusr NOTES TO THE Fifi.4P4CRAJ. SI.4T￿mF.￿ryS. emtknued FOR THE YLIR EliDED 31 MARCH 2•24 GRANTS PAYABLE- totttknntd 2024 2023 Grants approved to InstitutiODS: 7th FavtTsham Scoul tiroup Aspire SclMJoI Bord¢n Sporls As50ciatio Breakthrough Community AJloDb¢ni Creek cre￿ive Crossroads Cat¢ K•t Curlys Legacy Eastern Sheppey CoJJMnuDity Hub EAst Ke￿ MENCAP F&ver5ham AssiswKe c￿tre Fav¢rsham Build]088 Preveniion Trnst Fllvcr5hani Lip R¢adin8 F2vetsh2m Municipal Chariiics 2010 Faver$hatn Potsls Faversham Row Club FPI￿¢r$haM Str￿¢ Force FrMTrtball Club Faver5ham %wimming Pool M4na8wnent Commiiiee Fa￿'r5haM Umbrella Centre Fv4ver5ham Youth An¥ Friends Faces of Kent CIC Gpm 72 Qore Court Hockey Club Grnv¢ney and Gwdne$tone Village Hail Charity Hartlip Villagc I[￿1 HaTmVlly Thtr4)y Tr￿t Historical R¢5carGh Group of Si¢tit)eb)urnE tmago Cornmunity Iwade at the Bam I'n]st J￿¢tte Hal¢s Sanla's Grotto Reindeer Li8ht I louse Demetia Sllpport Miliun Creek Coutltry P•rk Milli)n Rews Society New Lcaf Support Newnhom Porish Council N¢wth8m Church Oarr (wd¢n End Allotment Society Outdoor S￿di0￿ CIC Quetnborough Harbour TnL8t Queenknrougli Prittwy Ind Nwsery Qu¢¢nborgu8h Town Community Ccntr¢ Que¢nborough Ygcht Club 1,000 6.864 500 500 Isoo 5.000 500 500 1.824 7,500 5¢)0 io,ooo 6,000 S￿) 959 s.ooo 5.000 500 2,000 1,000 3.000 500 2.770 500 1250 10.000 5,01)0 1,136 1800 (1.625) 1,500 (L.125} 1,625 4,000 5.IAIO 5rN) Shesrness DotkyardPrrfeMi1￿ Tn￿1 Sheppey Crickd Club Sheppey Ent¢rtai¢¥n¢nt AsKKi8tiOD Sheppey Hall Tjvst Sh¢ppy Li&ht Railway Greenway Group Sheppey Rugby F ofthe to fjve year p¢iiod. 16. RF.I.ATF.D PARTY DISCIA)SURES Du¢ to th¢ nornre of the charity'5 activilie4 there are coDDeGtsons som¢ of the trustees 8nd some of the granls aPPTo¥ed. Thai sail th¢ WnnediO￿ do 001 influe]Jce control over ertberthc charity OT thc in5tilutions th¢ 8ra1115 are awarded to. Where a conn¢ctiotL is id¢ntifKd the trustee involvtd decl8res this and h&8 ne iThtluence over the award of grallL For these re￿￿5, the trustees do ￿t consider it ne¢e55ary (o de¢#il out thes¢ connectioJJs. Page 17 continued... QIJEENBOROUGH FISHERY TRusr NOTFS TO THF. FI).IP4f.IAI. sfATEMETrUS- contiooed FOR THE YEAR ENIIED 31 MARCH 2024 17. posr BALAF4CE sHErr EVENts At the year.cnd th¢ charity in the PTI)Ct&g of s¢lliDE lond ¥ th¢ Coalw&sh¢r for £500.0(Ml. the Sale expected ￿ formaity complek in the 24r25 year-end. Page 18 QUEENBOROUGH FISHERY TRusr DETAILED STATEME)7 OF FPiLNCL4L ACTivfiiFS FOR ThE YEAR ENDED JI MARCH 2024 31.3.24 31.3.23 INCOMK AND EI¥DOWMENTS IDvestm¢nt infom¢ Rents receivable Othtr fees & licenees Divid¢nd incom¢ Interest reeetvable 156,451 27,747 4262 5,491 155,722 32,896 4,261 1,109 193951 193,988 Totsl incoming re¥our 193,951 193.988 EXPENDITURE Charltable actlvltieJ Queenborough Ilard maintenance (iranls to institutions 2.904 128.009 2,328 117.921 130,913 120.256 Support¢ostS GDvern•u¢e ¢tt$¢$ Printing, p05ta8e and stationtry A¢¢ountAtb¢y aod indL'petwJent examinerfs loes Bookkeeping Le8&1 ortd professional feej InSUTanoe 445 1.500 3.960 33.749 1,017 4.442 248 1.380 3,600 27,564 987 4,774 45,113 38.553 Totsl resoujres ¢xp¢rtded 176,026 158.809 Net ltttome 17,925 35.L79 This page do￿ not form pthofthe finwial stat¢ments Pag¢ 19