Report of the Trustees and Unaudited Financial Statements
For the Year ended 31[st] December 2023
Felixstowe Relief Charity
Registered Charity Number : 1182192
Report of the Trustees of the Felixstowe Relief Charity
For the Year ended 31st December 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number: 1182192
REGISTERED OFFICE
Town Hall Felixstowe IP11 2AG
TRUSTEES
Cllr Margaret Morris (Chair) Mr Norman Berry Cllr Darren Aitchison Cllr Amanda Folley Debbie Bartlett Peter Finbow Rev Andrew Dotchin
All trustees serve in a voluntary capacity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Felixstowe Relief Charity is controlled by its governing document, the Constitution dated 25[th] February 2019.
OBJECTIVES AND AIMS
The primary object of the charity is” for the public benefit,
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To provide relief to beneficiaries who are in need by reason of their youth, age, ill health, disability, financial hardship, personal, social or economic circumstances, in such ways as the trustees shall from time to time think fit, including (but not by way of limitation) through the provision of grants items and services to such persons and/or charities, and/or other organisations working to prevent or relieve poverty.
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The relief of financial hardship by assisting beneficiaries in financial hardship to pursue educational opportunities that they might not otherwise be able to afford, in such ways as the trustees think fit, including (but not exclusively) by awarding to such persons scholarships, maintenance allowances or grants tenable at any university, college or institution of higher or further education.
The term "beneficiaries" means persons who have been resident for at least three years in Felixstowe.
REVIEW of 2023 - FIFTH YEAR
The Felixstowe Relief Charity was formed in February 2019 to create a new CIO (Charitable Incorporated Organisation) in order to merge 5 existing outdated Felixstowe based charities into the Felixstowe Relief Charity. Those existing charities were:
Felixstowe General Charity - Charity registration number: 270980 Alexandrine de la Roche Relief in Need Charity - Charity registration number: 261597 Widow’s Charity otherwise known as the Poor’s Estate - Charity registration number: 211504 Felixstowe War Memorial Cottages - Charity registration number: 240325 King George VI Coronation Memorial Homes for Old People - Charity registration number: 211502
Advice was taken from the Charities and Social Enterprise department at solicitors Birketts LLP. All assets have now been transferred and the above 5 charities have been closed with the Charity Commission.
During 2023 the charity has supported a number of individuals and families within the community and will continue to do this.
The charity sold one property during 2023 and lease the other 4 properties this will provide an ongoing income which can be used for grant making purposes.
FINANCIAL REVIEW
Unrestricted funds are used in accordance with the charitable objectives at the discretion of the trustees. There are currently no restricted funds. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration, other benefits or trustees' expenses paid for the year ended 31 December 2023 nor for the previous four years.
TRUSTEE REPORT
In order to fulfil its objects, the work of the Charity focuses on the particular needs of residents of Felixstowe and the Trustees seek to ensure that, through the diversity of its board, identification of those needs are best met. 2023 saw a period of stabilisation within the Trustees with no changes.
The aim for 2024 is to increase the number of trustees to between eight and twelve nominated trustees who can be appointed in accordance with clause 10.1 and 10.2 of its constitution.
Trustees will periodically review the arrangements for recruitment of new Trustees and will extend its contact with interested parties (including the local authority,
churches and other appropriate bodies locally) and believes this to be the most effective way to identify suitable candidates from the local community as required.
RISK MANAGEMENT
The Trustees confirm that it has identified the major risks to which the Charity is exposed and has established systems to mitigate them.
PLANS FOR THE FUTURE
Since the formation of the Felixstowe Relief Charity in February 2019, the COVID-19 pandemic and the Cost of Living crisis, the charities objectives are more than ever in demand to provide relief of financial hardship, in such ways as the trustees shall from time to time think fit, including (but not by way of limitation) through the provision of grants, items and services to such persons and/or charities, and/or other organisations working to prevent or relieve poverty.
The Charity has been worked with local community groups of volunteers including Felixstowe Helping Hands and the Charity plans to expand its work in the local community working with other community groups.
FELIXSTOWE RELIEF CHARITY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Total | Total | |
|---|---|---|
| 2022 | 2023 | |
| £ | £ | |
| Income: | 118,402.03 | 250,382.40 |
| Expenditure: | 11,224.06 | 12,786.74 |
| Total funds carried forward | 112,308.69 | 382,393.84 |
FELIXSTOWE RELIEF CHARITY
RECEIPTS AND PAYMENTS ACCOUNT
YEAR ENDING 31ST DECEMBER 2023
RECEIPTS
Balances 01.01.23
Refund Anglian Water for 112 Grange Road Sale of 112 Grange Road Income from COIF investments Closure of King George VI Income from M&G Investments FTC Grant Income from CCLA Investments Closure of War Memorial Charity
| Council Tax for 112 Grange Road Payments to Community Land Registry Estate Agent Fees Sale Legal Fees Birkets Fees SSE Energy |
PAYMENTS £2,281.92 £3,154.17 £210.00 £1,673.20 £1,980.00 £2,785.20 £702.25 £12,786.74 |
|---|---|
Total Expenditure for 2023
Barclays Bank Balance 31.12.23
Total Income for 2023 (including transfer of M&G shares value of £62696.16)
King George VI Coronation Memorial Homes
6812 Shares in National Association of Almshouses Common Investment Fund
504.785 Accumulation Share in NAA Common Investment Fund (Extraordinary Repairs Fund)
Fund Value held in CCLA Accounts-
Total Funds - Barclays + CCLA + M&G
£36,993.36
£35.26 £168,000.00 £2,710.77 £3,847.80 £204.37 £4,000.00 £684.55 £8,203.49 Plus M&G (see below) £187,686.24 £187,686.24 £62,696.16 £250,382.40
- £12,786.74 £211,892.86 £250,382.40
£6,118.54 £56,577.62 £62,696.16 £107,804.82
£382,393.84