NORTHAMPTON MUNICIPAL CHURCH CHARtrY cio REI>ORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 REGISTERED CHARITY NO. 1182629 Jervis & Partners Chartered Accountants 1351137 Wellingborough Road Rushden Northants NN10 9TE
NORTHAMPTON MUNICIPAL CHURCH CHARrrY cio CONTENTS Le9al and Adminl$tratNg Trust•es' Report Tnjstees, Responsibilrties Auditors Report statement of Financial Activities 88lance Sheet Notes forning part of the Financial Statements 9-17
NORTHAMPTON MUN IPAL CHURCH CHARITY CIO Pag• 1 LEGAL AND ADMINISTRATIVE Trust•ès: . MrBCMay Mrc N Fowler Mrcw Brooks Mr B Sargeanl Mrs P Flavell Mrs S Richards Mr W Shearer Mr K HdIan(De1srner8 Mr D Reynokls Mr8 A Jones - Chairman of Charity- Appointed 19 April 2¢y23 - Chairman of Estate and Finance Commritee - Chaimian of House Committee- Resigned 20 August 2024 - RgTred 10 Sept8mber 2024 - Appointed 25 October 2023 - Appointwj 17 January 2024 and Resigned 24 July 2024 Prfnclpal office: . 4 Grange Parf( C(lL Roman Way, Northampton, NN4 SE Tetephone.. 01604 876697 Bankern: . CAF Bank Ltd Solicitors and Clerkto the TNstees: . Wilson Browne Solicitors- 4 Grange Park Court, Roman Way, Northampton, NN4 SEA Surv8yots: . Underwoods Chartered Surveyors. shi House. Pyramid Close, Ncythampton, NN3 8PH Replaced in the year by.. Eddisons, 6 Riley Road, Kettering. NN16 8NN and lQng WesL 10 Church Street, Market Harborough LE16 7NB Auditors- Jervis & Partners, 1351137 Wellingbemugh Road. Rushd8n, Northants NN10 9TE
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO Page 2 REPORT OF THE TRUSTEES The Truslees present their first annual report along with the fmancial statements of the Charity for the year ended 5 April 2024. The financial st8lèmenls have been prepared on the accounting policies set oul in note 1 of the rinancial statements and comply wbth the Charitls Trust Deed, aPpIable law and the requirements of the statsmenl of Recomrnended Practice. "Accounting arK4 Reporting by Charities" IFRS 1021 issued In 2019, and the Charit$ A¢t 2011. The Charity has taken advartsge of the concessions afforded to smalter charttps in respect of presenL1On and disctosure in these financial statem8nls. Constltutlon and Management The Northampton MunKipal Church Charity CIO Is o)nstituled under a Scheme dated 18 March 2019 and is a registered charity with the number 1182629. The Iruslee9 initiated the process of converting the charity Th8 Northampton Municipal Church Charity to a Charitsble Incorporated Organisation (CIO) on 25 March 2019. Al assets and liabilities of thal Charity W8re transferr8d lo the CIO on 6 Aprfl 2020. In addition, the Truste8s agreed lo a merger with a Charity Mth similar 04'eclive$. All assets 8nd liabiltues of The John and Mildred Law Fund. registered numb9r 1211230, were IransfeTf8d in )Vernber 2020. The Trust Conglitution allows for a majimum of 8 appointed TloS and 6 ncffiinaled Trustees. New TNstees are advised of the worf( of the Charityand ofthe requirement oftheir roles as Trusl8es and of current Charty Law. Objectlves and Activities The main stated oty'ect of the Charlly as set out in the Constitution is the relief of need, hardship or distress of the residents of the Borough of Northampton. The Trustees have remewed the objectives of the Charity in conjundion with the Charity Commission's General Guidance of Public Benefit and confimi that activities continue to conform to that guidance. Institutions or indiwduals can apply for fvnding of projects or for grants. Individuals must be in need and an application form containing their financial detaib ha5 to be completed before Consideration by the House Committee. Applications for inslrf(ulional grants are made by letter and are considered the Estate and Finance Committee. Meetings and the organisation Dr project musl benefrt persons in need in the Borough of Northampton. The policyof the Trustees is to allocate income. to orforthe benefrtof the regidents of the Borough of Northampton as quickly as is possible. Achievements and Perfomiance The Trustees have had a difficult year bul hav8 mainlainad a good level of grants and donations to both individuals and oryanisations in need during these economically challenging times. The income has been maintained on both our investments and properties and l am pleased to report that all the commercial properties are occupied and generating rental income. We changed our surveyors al the start of Ihg year and Eddisons are proving a good choice as agents. Sl Thomas Hou8e conlinu8S to provide a good home for the residents under the diligonl managemerbt of the Warden. The House Committee has had a particulady dtllicult year with trustee issues and problems with unpaid maintanance feas. Hopefully, the latter is now resolved and all the policy and regulatory documentation has been updated and collated into a compiahensive file. There have again been significant repairs and maintenance in St Thomas House ineluding a replacement of all th& windows. doors and facias. The laundry equipment has been replaced and the exterior will be repainted in th& current year. Th8 Truslges mad8 the decision to close the Page Fund and the Belly and Charte8 Stilwell Fund as th8 administrativ8 costs have become unsustainable. The Page Fund will be transferred into the Northampton Municipal Church Charity CIO (subject to final acceptance by the Charity Commissioners) and tha other fund will donate ils assets to the Northamptonshiie Health Charity. Overall, the Charity remains in good health and the Trustees are confident that it can continue lo ¢ary out its objectives for the ongoing future.
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO Page 3 REPORT OF THE TRUSTEES CONTINUED Flnanclal Revlew Accumuialed general income as al 5 April 2024 lotals £131.190. Page 7 states the total revenue arising and expenditure incurred by the Charfty. The General Fund surplu5 before direct tharilabl8 exnditUre for the year was £163.162. Reserves Pollcy The Trustees have established a policy whewby the unrestrlcled funds nol commitigd or invested in taroible fjxed assets {'Free Reserves,) held by the Charity should be £50,000 in th& General Fund. At this level the Ttustees feel that they would be abre to continue the current acliwties of the Charity. Al present th8 Free Reserves are part of the General Fund. which amounts to £131.190 and 8XC8eds the tsrget level. This situation is regularly Monited. FUTlherMo, as mentioned abova, ongolng grants lo organisations are reviewed annually and there is no (Mment to continue them. Inv•stment Policy The Trustees have c4)nSIder the most appropriate F)olicy for investing funds and invested these on the advice of Cave & Sons Limited. and Vartan & Son. The Investment objectives for Cave & Sons Limrf(ed are, without restrictions, to obtain a balanced return from income and capital. from inveslmenls, which have a medium to high risk. The investment objectives forvartan & Son are, without restrith"ons. lo obtain a reasonable long temi overall retum, from investments, 4thich have a Moderate levd of risk. Page 13 of the accompanwng financial statements shows that as al 5 April 2024, these investments had an aggregate Maet value of £2,843.466. Rlsk Revlew The Tnjstees have CoUc1ed their own r8view of th8 major risks to which the Charity is exposed and systerr have been established lo mibgate those risks. The only risk lo funding Is 8 drop in the income both from shares and the properties. Intemal risks are minirnised by the implemenlalion of procedures and insurafi. Generally The Truslees wish to express their thanks to the warden of Sl. Thomas Hous& for her excellent worf( and care of the residents there throughout the year, and to the Clerk's representatives for their assistances and advw. Bmay Chaimian 23 October 2024
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO Page 4 STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS The Trustees are responsible for preparing the Trustees, Annual Report and the financial stalemènls in accordanr with applicable law and United Kingdom Accounting Slandard5 {United Kingdom Generally Acceptsd Acc(wnlir practi). Th? law applicablè to charities in England & Wales requires the Trustees to prepare financial statements for e8c*) financial year which give a true and fair wew of the state of affairs of the Charity and of the incoming resources and appltcation of resources of the Charity for that period. In preparing these financial statements. the Trustees are required lo:. select suitable accounting policies and then apply them consi51ently', observe the methods and principles in the Charllles SORP., make judgments and estimates that are reasonable and prudent. state whether applicable accounting standards have been foliowed, subject lo any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concern basis, unl8SS It is inappropriate lo presume that Ihe Charity will continue in operation. The Trustees are responsible for keeping proper a¢¢ountlng records that disclose with reasonable accuracy at any time, th& financial position of the Charity and enable them to ensure that the financ1 statements comply wth the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008. and the provisions of the Trust Deed. They are also Fesponsible for safeguarding the assets of the Charity and hence for laking reasonable steps for the prevention and detection of fraud and other WguIarJties. Bmay Chairman 23 October 2024
NORTHAMPTON MUNICIPAL CHURCH CHARITh CIO Page 5 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES We have audited the financial Staterner on pages 7 to 17 for the year ended 5 April 2024 which MPriseS the Slalemenl of Financial Activities. the 8alan Sheet, and the related notes. The financial reportirrfJ framewofk that has been applied in their preparation is applscabl8 law and United lfjngdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practi) including FRS 102 Yhe Finala1 ReF)Orting Standard applicable in the In our opinion, the financial statements: give a tnje and fair view of the slate of the Chantys affairs as at 5 April 2024 and of ils incoming resources and application of resources, for the year then ended.. have been properly prepared in accordance with Unrted lfjngdom Generally Accepted Aco)unling Practice., and have b88n prepared in ardance with the requirements of the Charities Act 2011. Basls for oplnlon We cOndued our audit in accordance th Intemalional Stsndards on Auditing (u {ISAs (UK)) and applicable law. Our responsibilities under those slandards are furiher described in the Auditor's responsibilities for the audit of the financial statements sectson of our report. We are independent of the charity in accordanc6 With th8 ethical requirements Ihat are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance with these requirem8nts. We believe that the audit evid8nce we have obtained is sufficient and approprlate to provide 8 basis foT our opinion. Concluslon relatlng lo golng concern We have nothing to report in respect of the following matters in relation to vA)l¢h the ISAS (UK) require us to rèport to you where.. the ttees, use of th8 going concem basis of accourntlng in the preparalion of the financial statements k* not appropriate- or the trustees hove not disdosed in the finan¢BI statanents any bjenlified material uncertainties that may cast significant doubt about the charit5 ability to ¢ontinue to adopt the going concern basi5 Of accounting for a pericKi of at least Iwelve monlhs from the date when the )Inancial ststements are aulhorised for Bsue. other informatlon The trugtees are responsible for the other infomiats"on. The other infonnation comprises the infomialion included in the tr(tslees' annual report , other than the financial slalements and our audilor's report thereon. Our opinion on the financial statements does not cover the other infomiation and. except lo the extent otherwise explicitly stat8d in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other informathon and. in doing so, consider whether the other infomiats'on is materially inconsistent with the financial statements or our knowledg& obtained in the audit or otheiSe appears to be maleria15y misslat8d. If w8 identify such material ineonsistencies or apparent material misstatements. we are Tequired lo determine whether Ihere is a material misstatement in the financial statemenls or a material misstatement of the other infomialion. If. basad on the work we have performed. we conclude that there is a mateTial misstatement of this other information, we are required io report that fact. We hava nothing to report in this regard. Matters on which we are requlred to report by èxceptlon We have nothing to report in respect of the followlng matters in relation to Nthich the Charities (Accounts and Reports) Regulations 2008 require us lo r8port lo you if, in our opinion: the infomalion given in the Trustees, Annual Report is inconsistent in any material respect with the financial statements- or sufficient accounting records have not been kept,. or the finar¢cial statements are not in agreement with th8 accounting records and retums: or we have not received all the infomiation and explanations we require for our audit.
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO Pag• 6 INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES Respective responsibilitles of the Tru3te•s As explained more fully In the Irust8es' reSpor1b11itses statement, th9 trustees ar9 responsible for the preparation of financial statements which give a true and fair view. arKi for such intemal control as the trustees detemiine is necessary to enable the prep8r8tion of financial sts18menls that are free from material mi$81alemenl, whether duo to fraud or error. In preparfng the financial statements, the trustees are responsible for ass8ssing the Charits ability lo continue as a going concem. disclosing, as applicable, matters related to going concern arbd using the going concem basis of accounting unless the tnjstees either inlend lo Ilquidate the charity or to cease operations. or have no realistic alternative but lo do so. Audltor's responslbllltlos for thè audlt of the financial statements We have been appolnted as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Aet. Our objectives are lo obtain reasonable assuran about whether the financial statements as a whole are free from material misslalement, whether due to fraud or error. and to issue an audilorfs report that inclLFdes our opinion. Reasonable assuran¢e is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) 11 always delecl a material misstatement when it exists. Misslatemenls can arise from fraud or error and are considered material if, indiwdually or in the aggregat8, they could reasonably be $xpe¢ted to infiuence the OnOMiC decisions of users taken on the basis of thes8 financial stalements. A further description of our resrM)nsibilities for the aLtdtt of the financial statements is located on the Financial Reporting n¢11,$ website at.. www.frc.org.uklaudilorsresponsibilities. This description fomis part of our auditorfs report. Uso of our report This report is made Solely to the ch8ritYs trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charitls trustees those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charty and the charilrfs trustees as a body, for our audit wo, for this report, or for the opinions wg have formed.
S o L4rJbL4 )o>Lfr 1351137 Wellingborough Road Rushden Northants NN10 9TE Jervis & Partners CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS Jervls & Partners 1$ èligible to act as an audltor In temis of Section 1212 of th• Companlgs Acl 2011.
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Page 7 Unrèstrlcted Fund8 Pernlanent Total 2023 Fund 2024 INCOME Investment Income Rents from Investment properties 104,402 104,402 90.354 Div*Jends receivable 108.232 108,232 104.479 Irwne Tax recoverable 778 778 1,212 Interest receiv 1.678 1,678 765 Insurance recovered from tenants 4.870 4,870 3,020 CHARITABLE ACTIVITIES:. St Thomas Ht)u$e MaIntanCe C¢)ntributions 69,479 69,479 83,257 TOTAL INCOME 219,960 69,479 289,439 283,087 EXPENDITURE Raising Funds Charitable Actiwbes other Expenses 31.258 78.510 221.300 25.540 31.158 299.810 43.132 18,021 216,099 44,833 17,592 TOTAL EXPENDITURE 135,308 221,300 17.592 374.200 278.953 NET GAINS LOSSES ON INVESTMENTS Investments - realised unrealis reaised - revaluation {31,8921 {31,8921 {18,305) 94.409 94,409 1256,335) Propety NEf INCOME EXPENDITUR 84.652 {151,821) 44,985 122,184) (270,506} TRANSFERS BETWEEN FUNDS 8 1101.8211 101,821 OTHER RECOGNISED GAINS LOSSES Revaluation of fLxed asset property NETM ME <17.1691 150.000) 44,985 122,184) {270.506} RECONCILIATION OF FUNDS FUND BALANCES BIFWD:_ 148,3S9 150,000 5.142.812 5.441.171 5,711,677 FUND BALANCES - Clfwd 131.19) 100.000 5.187,797 5.418,987 5.441,171 All inc(me and expenditure derives from continuing activities Tbe ac£ompab)lllg a¢¢outyiirtg polldt5 Dotssforni pllrtof thesefinarLdaiAtst¢tD¢bts.
NORTH PTON MUNICIPAL CH H CHARiri cio Pago 8 BALANCE SHEEf AS AT 5 APRIL 2024 2024 2023 Note FIXED AS Tangible Fixed Assets Investsnent Propgrlles Investtnents 885,000 1,590,000 2,843,466 885.000 1,590.000 2.797.701 5,318,466 5.272,701 CURRENT ASSETS Debtors 33,932 25,338 Rent Charge- Nominal Value Cash at bank and In hand 104,272 172.015 TOTAL CURRENT ASSETS 138.205 197,354 LtABILITIES Creditors- due wrthin 1 year 37,684 28.884 NET CURRENT ASSETS 100,521 168,470 NET ASSETS 5.418,987 5,441,171 FUNDS OF THE CHARITY Unrestricted Funds General Fund 131,1 148,359 Designated FuThJs 100,(KJO 150,000 Permanent Endowment Fund 5.187.797 5,142,812 5.418.987 5,441,171 Approved by the Board ofTrustees and signed on their behalf by.- B May- Chaiman 23 October 2024 The aceonw9Dyitbg actowLttrLg poli¢ies wjtes Intw*l prtof thN¢tlngDclal ststtmettts.
NORTHAMPTON MUNICIPAL CHURCH CHARrrY cio Page 9 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 SUklMARY OF SIGNIFICANT AccouKfiNG POLICIES la) Genèral Informat The Northampton Municipal Cmjrch CIO Charity is a charity registered in the United Kingdcffi. The addr&5s of the Clerk to the Trusls is given in the Legal and Administrative infom1alic on page 1 of the finanual ststements. Th8 nature of the charivs operation and prin¢ipal activities are fully detsiled in the report ol the Tmstees on pages 2 and 3. The charity constitutes a public benefrt entty as defined by FRS102. (bl Basls of Accounting The financial statements have been prepared under the historical cost accounting rul8s as modffied by the inclusion of at mafkel values in accordance with the requirements of the Statement of Recommended Pradic 'Accounting and Reporting by Charities- issued ir) 2Q19 IFRS 102) and wlh applicable accounting standards and the Charits'es kl 2011. The charity has applieé Update Bulletin 1 as published in February 2016 and does not inclLkle a cash flow statement on the grounds that it is applwng FRS102 1 (c) Income Income from investments is included in the income account of the accounting period in which it ts ro¢¢ived. after deduction for income tax. rf appropriate. Rentsl income from commercial investment pfoperties is accounted for on an accruals basis. All other income is accounted for on a cash received basis. All income is recognized when the charity is legally enlrtled to it and Ihe amount carb be measured reliably and it is probable that il will be recetved. {dl Expenditure Grants are recogni when paid, afier approval by the Truslees. Al other exknditure i8 induded on an accruals basis and is recognised when there is 8 legal or conslructive obligation to pay for expenditure. All costs have been direclly allocatgj to on8 of the funds shown irb the SOFA where possible, or apOned as appropriate. (el Fixed Assets Freehold invesknent property Is sh¢)wn al market value. which is deemed to be fair volue In accordance wSth the Statement of Recommended Practice IFRS 1021. As a result of this. the properties are not depwiated. The properties a professtonally fevalu8d evèry five years. Other freehold property is also shown al valuation. The policy is to depreciate the building but as il is malntained to a high standard for its charilalAe activities none is necessaryas the residual value is not materially drfferenl lo the carrwng value. This is a departure from recognised accounting prinCipS which require depreciation lo be provhyed on all red assets. The Trustees consider that this policy is required in order that the financial statements gwe a twe and fair Mew. Revaluation gainsl{lossesl are wKluded in the Statement of Financial Actiwties. {fj Investments Invesknents are Induded at market value at Ihe year end dale, which 15 deemed to be their fair value. Igl Fund Accounting The value and purpose of each fund is explalned in note 8.
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO Page 10 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Charitable Activities 2024 Gènèral Funds 202 General Funds Grants lo institutions £1000 and over.- Ltfe Deafblind MNOA Association Samaritans Guide Dogs Mount Pleasant Baptssl Church Spencer Contact MS Therapy Centre Unf(8d African Association Mayors Fund for the Hwsebound Child Contact Cent Nene Valley C4re Trust Read Easy Care and Repair Calibré Audio Library Macmillan Cancer Support Zlngani Mens Group MS Society Manna House Dogs for Good Northgale Academy Grants to individuals Christmas Vouchers 1,500 1,000 2,000 2.000 2.000 3,000 2,000 1,500 5,000 8,000 1.000 1.500 2,000 2.500 2.000 1¢X)O 1,000 2,000 1,000 1,000 1,000 1.000 1,000 1,000 1.000 2.500 1,000 3,000 46,204 1,306 52,714 1.303 77 2024 Desl nated 2023 Desi st Thomas. House Water Rates and Councll Tax Heat and Light Warden's salary and pension Clerk's fees Accountancy feeg Te*hone Sundry Expenses Lift maintenance Call Care Cleaning. including wages Repairs and renewals Legal and Professional fees 2.646 11,845 28,518 18.000 3.840 2,063 1,967 5,310 1.248 2,928 142.355 600 3,586 7,718 23,797 18,000 3,825 1.794 4.684 2,409 1,248 3,053 65,139 3,329 221
NORTHAMPTON MUNICIPAL CHURCH CHARITY CIO Page11 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED APRIL 2024 Charhablo Artlvltles {contlnued} 2024 20 Desl nated Desi Employee emoluments Wages, salaries and pensions NatKsnal insurance contributions 28.518 23,797 28,518 23,797 The average number of employees No employees received emoluments excgedlng £60,¢)00, and the TnJste8s receive no remuneration or expenses. 3 Other Expenses 2024 2023 Gonoral Funds G•neral Funds Govemance Auditfees Clerk's Fees Bank Charge5 and Interest Insurances Professional Fees 3,840 18,000 3,825 18,000 92 358 4,740 365 3,275 Pemianent Endowmo Pemianent Endowment Investment fees~ Varlan Investrnent fees - Cave 12,321 5,271 12.268 5,550 4 Ralsing Funds 2024 General Funds 2023 General Funds Investment Pro Collectors Fe Insurances Professional Fees prOrtY Costs enses 6,825 10,773 5.991 7,669 6,625 9,507 1.889 31,258 18,021
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NORTHAAIPTON MUNICIPAL C RCH CHARrrY cio Pagg 13 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 Flxed Asset Investmènts Co 2024 Cost 20 Markel Value 2024 Market Valua 2023 Income 2024 Income 2023 P•m)anent Endo ent Cave & Sons Share Portrolio 820.750 830.036 1,000,825 1,007,042 44,243 46.197 Vartan & Sons Share Portfolio 1,601,615 1.680,928 1.842,641 1.790.659 63.989 58,282 2,422,365 2,510.954 2,843.466 2,797,701 108.232 104,479 Movement In Market Value Cave & Sons Portlolio Vartan Portfollo Total Market value 6.4.23 1,007,042 1,790.659 2.797.701 AddOnS and Irdnsfers in year 292,087 292.087 Disposals in year (20.6171 (334,461) {355,078) Unrealised Ilossesl gains In year 93,500 94,469 Movement in cash derM)sits 13,431 856 14,287 Mar1(et value 5.4.24 1,000.825 1.842,641 2.843.466
ORTHAMPTON MUNI AL CHURCH CHARrrf cio Page 14 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 6 Flxod Asset Invostments l¢onllnued} Cave and Vartan Share PortFolio Summa 2024 2023 Cave & Sons Limited UK Invesknents 982,868 1,002,516 Cash D8POSits 17,957 4.526 1,000,825 1.007.042 Vartan & Sons UK Investrnents 1,838,260 1,787,134 Cash D8posits 4.381 3,525 1,842,641 1,7W,659 Other than cash deposits, all investments are on 8 recognised str)d( exchange.
NORTHAMPTON MUNICIPAL CHURCH CHARITY cio NOTES TO THE FINANCIAL STATEMENTS R THE YEAR ENDED 5 APRIL 2024 Page 15 Creditors due withln 1 yoar 2024 2023 ditors and Accruals Rent deposils 20,000 17,684 15,411 13,473 37,684 28.884
NORTHAMPTON MUNICIPAL CHURCH CHARrrY cio Page 16 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 8 Fund Anal PERMANENT ENDOWMENT FUND GENERAL FUND DESIGNATED FUNDS St Thofflas House C clical Maintenan( Fund Extrydordina Re Fund INCOME (as page 7) EXPENDIT as 219,960 {135.308) 69,479 {221,300 17,592 NET INCOME EXPENDITURE 84,652 I151,1> 117,5921 TRANSFERS BETWEEN FUNDS - Permanent Endowment - Sl Thomas House - Commercial property repairs (151.821) 50.000 151,821 {50,CKIO) (101,8211 151,821 {s0,C> RB4LISED GAINSI Investrnenls Property LOSSES {31,8921 UNREALISED GAINSI Investrnents Propety LOSSES :. 94,469 62,577 NET MOV T IN FUNDS {17.1691 {50,OTrJ) FUND BALAN ES- B'FWD 148,359 50,000 1W,000 5,142,812 FUND BALANCES . CFWD 131,190 100,000 5,187,797 The funds are rnpresented by- - Tangible fixed assets Investment properties Investments Cuent assets Current Lia.1111es 885,000 1,5.0{X• 2,713,242 130,224 38,205 (37.239) 100,000 {445} 131.190 11X>,000 5,187.797
NORTFIAMPTON MUNICIPAL CHURCH CHARITY CIO E FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRI Pago 17 2024 NOTESTO T unds Anal Is {contlnued) lal General Fund The General Fund represents the unrestricted ftjnds. which the Trustees ara free to use in accordance wth the charitable objects. (b) St Thomas. House Fund This an unrestricted, designated fund showing the income from and other &xpenditure in resped of St Thornas. House accoL)nting budget*ig purposes. (cl The C cl11 Malntonance Fund This is an unrestricted, designated fund for regular repairs and works to Sl Thomag, House ar)d the St Giles street properties. The Trustees have decided to cap the fund at £50.000 each year. As a resuft of major repair work carried out on the properties in the year. the TrtJst8gs agreed lo transfer the Cydical hAaintenance Fund balance of £50,(XJO to the General Fund. This will be reUped over the two yews at £25,0(M) each year. (d) The Extraordlna Re aTr Fund This 15 an unrestrKled fund deSnated by the Trustees for major refuTblshmenl and rèpars to St Thoma5, House and the St Giles Street properti8s. The Trustees have deckded that any future Extra Ordlnary Repairs will not exceed £100.000. {el The Pem)anenl End wmant Fund This conL9ins those assets. which cannot be dtstribuled by the ChaThty. being St Thomas, House, the Sl G¢8 Street propetties and land at Kislinglmjry, and investments mainly purchased with the sale proceeds of the land at Boughlon Green and the inveslments of the merged J & M Law Fund. Investment managers fees are deductsd from this fvnd. Related Partles
NORTHAMPTON MUNICIPAL CHURCH CHARITY Page 18 ACCOUl+lTS SCHEDULES FOR THE YEAR ENDED 5 APRIL 2024 Y8ar to 12024 Yearto ril 2023 INCOME AND EXPENDrruRE AccouTrir INCOME Rents from investment properties (analysed page 121 Investment income lanalysed page 13) Income Tax recovered Interest received Insurance r8covered from tenants 106,483 108,232 778 1,678 2.789 90,354 104,479 1,212 765 3.020 219,960 199,830 Deduct: . PROPERTY EXPENSES Collectors fees Insurance Professional Fees Property Costs 6.825 10,773 5.991 7.869 6.625 9,507 1,889 31,258 18,021 MANAGEMENT EXPENSES Audit and cOuntancY Clerk's fees Bank Charges and Interest Insurance Legal ar Professional Fees 3,840 18,000 60 365 3,275 3,825 18.000 92 358 4,740 25,540 27,015 GRANTS AND DONATIONS Grants to Institutions Grants to indiwduals Christmas vouchers 31.000 46,204 1.306 23.500 52,714 1,303 78.510 Tl,517 ST THOMAS. HOUSE N8t Costllncome) {sch6dule page 19) 151,821 55,325 PERMANENT ENDOWMENT Investsmenl Fe8s- Vartan Investrnent Fees- Cave 12,321 5,271 12.268 5.550 17,592 17.818 TOTAL EXPENDITURE {304.721) (195.6961 EXCESS OF INCOMEIEXPENDITURE) FOR THE YEAR (84,761) 4,134
NORTHAMPTON MUNICIPAL CHUR H CHARITY Pag¢ 19 ACCOUNTS SCHEDULES FOR THE YEAR ENDED 5 APRIL 2024 contlnued St Thomas. House Year to rll 2024 Year to 12023 Maintanar8 contribLrticr 69.479 83,257 Deduct: . EXPENSES:. Water rales and Council Tax Heal and light Warden's salary and p8nsion Clerf('s fees Accountancy Telephone Sundry expenses Call care Lrft maintena8 Cleani, including wages Repairs Legal and professional fees 2,646 11,845 28.518 18.000 3.840 3,586 7,718 23,797 18,000 3,825 1,794 4.684 1,248 2,409 3.053 65.139 3,329 1.967 1,248 5,310 2.928 142,335 600 221,300 138,582 NET (COSTYINCOME before approwiations (Page 181