FARINGDON UNITED CHARITY C.I.O ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FARINGDON UNtrED CHARrrY c.i.o LEGAL AND ADMINISTRATIVE INFORMATION D Keelng IChamwi} B Barber K Bendey R Corfield E Jarnwi {ApFwJnted 17 Novemb8r 2022} IAppcanW 17 November 2022) {Ap[t•)￿ 16 Novèmber 2YJ23) PPLxnted 16 Novemt*r 20231 IApw¥nt&l 16 November 2023} IApwnted 16 Novemb 2023) J FaFmer AF￿￿ SHyk Rav M Juke5 Charity nurnber 1186581 Princlpal addrgss BuntirvJ & Co House Voiunleer Way Oxfordshi SN7 7YR Audltor Surte l. Wtfidn￿ Court Abil￿￿ B￿ne&S Park Abirwjdc Oxtordslu OX14 1SY FARINGDON UNITED CHARITY C.I.O CONTENTS Notes to l￿financIal statem 10-17 FARINGDON UNITED CHARITY C.I.O TRUSTEES. REPORT FOR THE YEAR ENDED 31 AIARCH 2023 nancial slatements 8nd compty wrth the d￿rity$ g0very￿ng the Charities Act 2011 arWJ"A(x￿UntirQ a¢YJ Reporting by Charites.. Statement of Re[￿n￿nded PraLtrx 8Oirable to (*oriti8s weparirg their accounts in a¢¢ordance with the Financi￿ Reporb"ng Stand8rd applicatle in the UK and Reput￿￿ of Irdand IFRS 1021. (effeciive 1 J8nuary 20191 ObJe¢tl¥Ys and activilles The purpose of the Chanty is to make grants kn 8ssisI tIKJ5e n fieed ￿ resKle tn Ihe arèa of b8n8fit whth is the PaF55hes of G￿t Faringdon. Liljlewoth and Lrttt8 COX￿ and adiacenl parishes. Tr Charity rnay aL￿ make 9rants to ass4St with 8dUCat￿ of tw and gwls or conxnuThty prr4eds benèfit thoEe in need. charity shoukj undertake. The Chartty has sought to improve the phy5ir21 aThY mental *￿tel[¥a (sfiiw vthin of benefft ty prowding for indiwd￿l needs and SUPFKJrbTrJ (xuani5ations in the area with ￿ke minded crt)iec*ves. Widar wciety has benefitted from an irnproved supwrt structure to those in n*J as a resuh of the grants tr58t the charity has prowd8d. DurirKJ year 8fKl8d 31 Marth 20TJ £57.118 wds pa•J ¢xrt in grants with ts Iwgest grnnt to any on8 organisalKJn or indiwdual being £19.451 to pay for a family suwtxt w(thr al The Fl*x. (Xtr￿ organisal*)ns helped iFMJuded Farfng¢Jon L8amiry Trus( Oxfoffjshire Play AsscKialTh for Farin￿*>n YrArth aLrtJ. COGS 8t the Pump Housa, F8Fv￿d￿ Fc¥)IbaM Cbjb and Far¥￿(￿ Rugby Ch￿. The tnstses have had r89ard to the Charity ComMB￿￿¥ guhtsre on pUtrf￿ bBll8fft in man&JiThJ the actiwti&% of the chaity. Financlal revlgw It is the policy of the (thrity that unrestsicaed ftTh¥Js have Th)t teen dèsignated ts a speak usè shoukl be maintair￿d at 8 lgvel to o)ver strK)rt to rrwbum tem Whi￿ rThaxmising lthe rètums ￿ invesbiwts. The trustees c4)nsideT that reserves at this eEwr8 thaL in the everrt of a signthcant dfop in funding, th8y will be e to c(Krtinue the charity's curTent acbvibes Whi￿ Considerati￿ is gNen to ways in whith 8(klitional funds may be R•s8r¥85 polivi It is the policy of the Charity Ihat Um8StriC￿ fttThYs ¥•￿h have not desyTrabJ lor a use should b maintai￿￿ at a to o)ver skM)rt to medi￿￿ term exr*ThJth max1n1￿ng Ihe le￿wnS iffi I￿￿51m&nES. The Trustees c￿s￿ler that resèrvas 8t levd ensure tha( in the event (rfa sKJnffi(xnt drop in ￿nding. they will be able b) Continue th8 Charity's ￿rrefit aL*¥I￿ while Ix)nsxlerab¢￿ 15 gN8n to Ways in whkh additK¥)al tunds may be raised. Struthr•J governance maTrag8fflent 2019. FARINGDON UNrrED CHARITY C.I.O TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 D KeeJiThJ ICh*rman} B Bart)or D Mackay K Benl18y R Corfi81d Cllr S Srnith E Jarman G Webb D Wils CcA8rnan J Farrr A Finn S Hy1a￿l Rev M Jukes (Res¥Jwl 16 20231 (ResiJn&J 4 May 2tr23) (Apwnted 17 Novemter 2022) {Ap￿￿Trted 17 Novemter 2022 and reSig￿d 20Apll 2023) IApFK*nted 17 NOveM￿r 2022) (Ap￿nted 16 November 2023) (Apwnted 16 November 2023) (AprKAnted 16 NO￿ts ￿23) (A4)pcMrted 16 Novernber 2023) Novernber2019. The TnJstee¥ rwrt 8ptmo￿l by the Brerd 0fTn￿. D K¢81ir¥J IChawm*t) FARINGDON UNITED CHARITY C.I.O STATEMENT OF TRUSTEES. RESPONSIBILttlES FOR THE YEAR ENDED 31 AIARCH 2023 appli(xble law and UTht8d KiwJL¥n sta￿￿$ Iuniba K*TrJlrAn Gen8raWy ALowntirffJ praC￿e). The Law applicable to daritses in England and Wa￿$ requi￿ the truste&8 to wep8r• finanixa statements for each finanry81 year which give 8 true and fair Mew of the state of affairs of the chty and of Ihe Ir•?￿lng rwurces and arvlicabon ol ￿oUr(￿S of the thanty Itot year. - observe the mèthc•Js arwj prtKirA8s in th8 Charthe5 SORP. wil continu8 in oper8ti0n. The Iruste8s a￿ r8sponsibl8 fL* keewng wffKient accrwnlirBJ Tel￿$ Ihat disdos8 vrith reasonable ac￿racY at any time financial po%1#￿ of the charity ar￿ enaN8 them to ￿￿re that the finanixal statemènts ry)mtly with the Charitses Act 2011, tt* Charity IArrnunts and ReKxytsl ReguLqtiC￿s 2008 and the Fyovisions of the trust d*J. Try a￿ also responsitAe thgu8rding th8 assets of the thaTity aThJ for takivJ reasonat48 Steps ft)r the èvention ar¥J detth of tra￿￿ aNI irrwaularilies. FARINGDON UNrrED CHARITY C.I.O INDEPENDENT AUDrroR% REPORT TO THE TRUSTEES OF FARINGDON UNITED CHARITY C.I.O Opfnlon We have a¢JJited the financi￿ statements of F8riThJdon United Charrty C.l.O (tr￿ 'rt￿rty'1 for the year e￿1￿1 31 financial ststements, indtKling svJnTficant acc(yJntw¥J ￿lueS. finan(aal rèwb.ry frarrew)rk that has been applied in their prep￿841￿ ts applica￿& law and Unrted A(xx)unb"ng SlandartSs, indudirwJ Finan¢NIl Reporting Stèndard 102 The Finan¢BI Rewth"ng St8nd8￿ 8pplKaNe UK and R8pubkc of Ireland (United Kingdom GeneraUyAwted Ac(x>unting Pr*ice}. In ouropin¥)n, lh8 financi￿ statem￿ts". giv8 a Iwu8 and Mew of tho stato of ths affair5 as at 31 Marth 2023 arKI of if5 inc￿1￿g res￿ree5 and ap￿iCati￿ of rÈsour(%s, forts year a¥JtyJ., h8V8 been PTcyeity PWEp8f8d in a(t•)rth￿ with Unrted ACC*p￿1 A{￿￿ting Pra(al￿. and Basis for oplnlon W8 ￿1nducted our a￿111 ￿ arxx)rdanr£ Irrfemati￿l Stsndarrts ￿ AucfiDTrJ (UK) IISA8 {UK)l applicabte the fyia￿l81 slalements se(Xion of o(w ￿pOrL We are in¢Jep8ndent of the thanty in ￿x¥jrd￿n￿ ￿ the th.cal fgqu1ro￿ntS that are relevant iu Lwr audit of the finanoal SkIerr￿Ets in the UK. inejuding the FRC'S Ettmcal standard. and we hav8 fu1fi118d our other ethical responsibilrbè5 8(xc￿￿nce wth roquir8rn8nts. We b81ieve that the audit evKlence we have cthined is sJff#xrrtaThY apprwiate to FKDvNJe a basis for our opin￿. Concluslons I￿￿9 to golng wncem In auditing the firianii81 strt8merts. we habt Ihat the TfUStees' ttse crf goirvJ cr￿n basis of Based on work we have perfom*d. we have rK)t Klentified any Materi￿ uncert8inti8s relaling to events or condil'orE thaL individually or colectivety. may cast svJnificant (km[￿ on Ihe than￿$ ablty to continue as 8 going ncem lora p8iK¥J of81 least mcth from wh8n the financAal statemgrTrts arè aUlhori￿1 for rswe. Our responsibilities and the r85rAKksTrbdrfies of the Injslees resFe(* tr) cmxn am descri￿ in the relgvant $8L*ons of Ihis r8F¥)rL Oth•r InfO￿atIOn The other inf(xmation conwiises Info￿0￿ induded in Ihe annual reF¥)rt other than Ihe financral statements and our auditorfs re[￿ thereon. Th2 t￿￿tee$ are re$F¥)ns￿e the olher informalH)n ¢>)ntained vrithin ihe annu31 rep(rt t￿r opinion on the finanrAal statements th)es noi a)V8r Ih8 olher inf(rnb"cffi and do not exwess any fomi of assurance (x>ndusKJn themn. Our reswnsitxlty is to re&J the other infL¥mation 8nd, in d￿n9 so, con&der whether the other In[￿￿311￿￿ is Mat￿laIY in(£￿Si￿1 wilh lh8 finan(xal ststements or our kno￿ge obt8in•Y in the coutsè of the audrt, or othernisè to t* rnaleri&ty mtsststed. If we Klerlty suth Mat￿lat incons￿ten￿s or apparent rnat8rial misststements. ￿ a￿ requirad to d818rmin8 wtslher this gNes iise to a malerial mr6$tate￿*nt in the finanrlal slatements themselves. V. bas&J on the wcxk VR have rkned. we ￿ndUde Ihat th8r8 15 a mateiial nNsSIat8rne￿ Of1h￿ otsr infom￿, w8 arg to ret*xt that Wg have noth#vJ io in ttms re9ad. FARINGDON UNITED CHARrrY c.i.o INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF FARINGDON UNrrED CHARrrY c.i.o Rwrtsl Regulations 2(K)8 requi￿ us to ￿K￿Yt to you rf. fft our opinK)n.' the inf0m￿tion grven in the firon(a81 State￿￿ts is in(xffisi*rbt any m8teTial resp￿1 the Tru5tees' report or Ihe fift8ncfjal stal8rn￿ts are notin ￿rea￿ent￿th the acxxjuntirg r8LYxds; or Other matt•r R•swslbllltles of trustws As explained more fuly in slaterrth of TnJste8s' res￿￿￿b￿l&s. Ihe Irustee5 aR [￿￿&bI8 fL¥ the prepa￿tt)n of the finarmial sl*wll8nls army for trRirwJ satisfied Ihat they grrfe a tnje and laK wiew, ar￿ for SL internal contrd as ￿ tnjstees deternine B neceswy to enable the ptepar3tion Of￿an¢￿ statements that are freè from material misstatement, whether due to fraud or effor. In wep8riro the finanaal ststements, the Injstees are resry)nsibbe for assessing Ihe tha￿LIS atitlÉty to o)ntinue as a going rx>ncem. disdosng. as applic8tAÈ. matt8 related to gLxng con¢em usiw the gotng 0)r*￿ basis of &oymling the tnJst86s thr intsnd to cease FARINGDON UNITED CHARrrY c.i.o INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE TRUSTEES OF FARINGDON UNrrED CHARITY C.I.O Act relevant regulats.ons made or ha￿Tha eff￿ thereunder. Our objectives a￿ to obtain reasonable a&wrdrtt *N>rt thlher the slatements as a whole afe free from matwial rTNsslatement. *thether due lo frwd c* error. aThY b) i4gJe an auditor's r$￿)rt tI￿t iniludes our opini￿. Reasonable ass￿ra￿e is a h¥Jh levd of a&Surdn￿. tmrt is not a gtwanlee that an audit c(mducted in acJni88d on we￿pL Other donalbjns are rwDJniwJ the charity has been noli of th8 dL¥)alion. Unl￿ perfr￿n￿ coThJrbons wuye d8f8￿8[ of the a[ll￿nl Inrx)me reu)verdble in Legacies are re(x)gnised on raC￿Pt CK othèMse rf lh8 dArrty has tEen notified of an Im￿nding distribulton, Ihe arTK)unt rs known. arwj ￿lpt r6 exFeclwJ. 11 the ar￿)Unt is kwAn, is tr8at8d as a ¢ontingent asseL 10- FARINGDON UNITED CHARITY C.I.O NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 lcontin￿lI 1.5 Expenditure Expendittjre is 0￿e is a o)nstrth oblgats￿ to transtsr e(£￿IC bènefrt lo a third party. rft is prrknable that a Iransfer of e(x)rWjn￿ b￿8fits be wir&J in setdeN*nL arKI the ar￿lUnt of Ihe Obligati￿ can be m8aSU￿j rei*bty. Exp￿di￿￿ k da59fied by acbvity. The rnsts of we up of th8 to1￿ of dirod cosls aNI shared ¢x)sts. induding support o)sts Invo￿ in ￿d8[￿4￿"n9 each (¥¥* atiribuktrAe to a SI￿ actiw are alloca18d directy to that activity. Shath costs which (￿tilbU￿ to more than one actsvity and support costs whith are not attributab￿ to a singl8 actiwty ar8 8pFM)thned bel%*en those actiwbe5 on a basis (x)nsi5tent wrth ts use of res1xjr￿. C8ntrdl staff Ixjsb are dkKated on th8 of time spent. and d&preckabon tharges are alocated on the porbon of Ihè asseys use. 1.6 Tanglble flxed assots Tangible fixed 8S5et5 are inthaty m&wred at (16t rr*awJweLI * valu*K)n, net of D8precial*)n is tecognised $0 35 to *Ttie off the ryjst or ¥8￿￿t*￿ ofassets knss resk1ual vdu85 over their aThJ the Carrying fdlue of the asseL and is reujgnised in th8 ststement offinancaal acbvityes. 1.7 Fixed ass￿ inTTr5tments sub5equenty measured al fair value at eath retmYtir￿ date. Ch*wJes in fa are rec£*Jrri58(1 in 1.8 knpaimient offfixed assets whether there is any indication Ihat thc6e assets have suffered an Mnpaimient ths. If any suth snd4cat¥Jn eX15ts, the reryjverabie awK)unt of the asset is eSlIrnat￿ in ord8r lo determine the 8xlent of lh8 ￿￿Palment Icw lif 8nyl. 1.9 Cash and cash equlval8nts Cash and Cash equivalents indude cash in h￿d. de￿￿11$ hekl 8t tsll banks. other short4errn liquid investrTEnts wih ￿ginal malurilies of ￿￿￿thS or less, and bank overdtsts. Bar* overdrafts ale shown thin t*Jrrowings in ￿rre[El liatAbbe5. 1.10 Flnancial in51nw*nts The charity has e18Lt811 to arpty the provi5¥Ms of S8Ctw)n 11 'Basic Financial Inslrnrnerts. and Sedon 12 'Other Finan￿81 InthJm8nts Issu8s' of FRS 102 to all CA 4Ls financial 1￿Ment& Finanaal inytruments ar8 recognised wi the dwrtrfs balarte sl*et vA*n thg dArity becA)mes party to the contractua oftr* ￿trum￿lL Flnancaal assets arKI Ikabdths 8re offseL T￿tr) Ihe ret 8Trwnts in the ￿anC￿al stAtemerts, there is a legaly enf(￿2￿bIE rwJht off the thern is an xthntm to seth on a net bags or to ieali$8 the assel and 5etlle the 1th1￿ty Sim￿lane￿￿ty. 11 FARINGDON UNITED CHARITY C.I.O NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Basic financial assets Bas￿ fina￿￿￿1 assets. whlch iThA￿Je debtors and cth 8r¥J bank bthrKe& a￿ intbaiy m885ured 8t transactv)n pri￿ induding transaLa1(￿ ¢osts and are subwuenty (Xr1￿ at anKMtsed cost using the effective tnterest methDJ unless the a￿dr￿n￿l trdn*xI￿. vther8 the tran5acbon is rneasur&J at the presÈnt value of the futule rec£ipts disixNJnted at 8 m*t r* of Financial assets Basic financial Ilathlities Basic financial liabilsbes. IrKIt￿l￿ (¥editors and a￿ inibauy rewniwj at transacaiM price unless the arrangement consb"tut85 a finanong transactN)n. wh￿e th8 d¢bl instrunwt 15 T¥leasur￿j al th8 wesent value of the futu￿ pay￿￿nts discoun￿ at a r￿rket rate of inlerest liabilib88 classified as payaL4e wrthN one year ar8 not arnort1￿. TTrd8 cr&Yitor5 are Obligai￿S to pay fcf g(K*ts or Se￿￿ that have LEen acxwit*J in the ordinary ca)urs8 of operntions Ir(￿ suppliefs. Arn(4Jnts payable are dasthj as CAJrrent Ikgbiltbes rf payment is due within one year or less. If not. they arE pT85errt￿ a5 non-CUff8nt fiabilrfitts. Trade ¢reditor5 are recogniwj inilialty at aF￿el￿d. 1.11 Employee ￿n4fft$ The cost of any unU￿j hOl￿aY a)tlUw￿l is recryn1￿] in which the emrdoyee's swvtss are cr1t1￿1 ¥xouThting eStin￿ and ludg¢rnents In the applI￿tiOn ol the d￿rrtIS ￿￿￿jntsng wlK#es. the In￿e$ are wuiryt to make judsEments. estimate5 nrj assumptions aL￿Lrt Ihe carrying anount ￿ assets and IN?￿￿"eS Ih81 ale not readity apparent from other sour￿. The esbmates aThJ a￿￿ated asgJmpkn are based cfft histori(4 and oth& far*ofS that The Èstimates and uThlerlyir¥J assumption5 are on an rryirwJ ba*"s. RevtsN)ns ty ￿QUnIlng estimates are re¢(%Jnwl in th8 periryl in whth Ihe estimate is r8vised where the revision affeGts onty that pellod, or in the parw)d of lh8 revision and fulure per￿$ W￿[¢ the rewsKJn affacts bcth cjjrrent and luiure lunds 2023 th)rtalK￿ and giRs -12- FARINGDON UNITED CHARITY C.I.O NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The charity does mt c￿1 sW￿lficant fu)drydising acthi11g& 2023 2022 RBnt81 iFxxNne Income frr￿ list￿ investr￿1ts Royally ÈncA)rre Interest rer£￿￿tIe 6.056 196.324 62.681 4287 78,207 265,116 131.333 funds g•n•rdl 2022 2022 2022 281,815 6,111.785 8,393.eA)O On 30 Septemter 2021, Farir¥J(kn Uniby Charity I￿$[￿ assets and liabfj1*5 to the d￿rIty in ordor to o)ntinue its charitable activity. 2022 De￿￿18t￿ ￿ irypaim)&nt 347 Granl fU￿1￿¥J of ar*vths (see note 8) 14,219 Shère of supwKt (see rv)t• 91 Sh8re of goveman¢e costs {see rtote 91 &3.201 29.124 119.874 44.123 -13- FARINGDON UNITED CHARITY C.I.O NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 Grants payalJl• 2023 2022 Grants to instrttjli￿￿ Brornsgrove Day Centre Thè Place Fariwudon Churthes FariTh)Jon LeamiThJ Twst Ydkw Submarin8 Enrych Maymessy Farityjon Ch Homestsrt OxFordshire playA￿ck9t1 The Pump House Prop 19.451 2.916 750 1.0(M) 3.OCM) 1.825 1.000 2.210 Grants Io RisbbJbon5 Grants to iThJivvJuals 48,091 9.247 10.710 57.338 14.219 Support COg¢s Clerks wuneralwjn 812 812 1.3S8 1285 216 Insur8rre Legal f88$ W8bsit8lrocxn ￿re 0th8r professional fees Inv8Strnent rnanagement 1.161 1.161 1285 216 27 27 1.5 510 38,510 21.273 21.273 Audit fee Actountswfees 780 53201 62.189 29,124 780 29,904 10 Tn￿ta•S tharity durirg Ihe year. -14- FARINGDON UNITED CHARITY C.I.O NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2023 11 En4)kny•o t2 Nèt oaln51llossesl on iDv•stn¥ funds neral funds r￿al 2022 2023 {464.0261 1107.7161 13 Taxation Th8 charity is exempt from tax on ga￿ wthin sedKJn 505 rrfthe Taxes Act 1988 C￿ ￿tion 14 Tanga)l• Ilx•d ass8ts ComputsF8 Cost At l 2022 At 31 M8rch 20YJ Depreciation and impaim*nt Depreciati￿ Charged in th8 year 347 At 31 March 2023 347 Carrying amount At 31 March 20Td 1.041 At 31 March 2022 1.388 15- FARINGDON UNITED CHARrtY c.i.o NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2023 Listed investments Cost or ¥ah*lion At 1 Aprl 2022 6,079.105 1278,615 {464.0261 11.186.438} V8lUati￿ char Dismf8 At 31 IA8r(* 2023 5.707,256 At 31 M8rch 2023 5.707.258 At 31 2022 6,079.105 16 Debtors Trade (tbttxs 18.712 17 Cun*nt ass¢t Investm sted investments 295.186 229.549 18 Cr8dltlK5: amow)ts lalllry du• w6thin one ye* 2023 2022 11,940 6.240 -16- FARINGDON UNrrED CHARITY C.I.O NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 W4RCH 2023 19 End0￿￿￿ndS end[F￿nt frJThls can be usejj in accC*￿a￿e otie(Xs of the d￿rIty and is as un￿Stricted .111.785 1107.716) 6.[￿.(￿9 {464.(Y261 5.540.043 6.111.7&5 1107.716) 6.(￿.069 1464.0261 5,540.043 20 Anatysls of net ass•ts b•tW•on fund8 Total Unrestrfct•d Endowm• fund5 lunds 2022 Total lund$ 2023 2023 2022 Fund baLms at 31 March 2023 a presented by: TarrfJibte assets Investments Current assetslll5abih￿5) 1.041 167,213 5.540.043 349,￿2 1.041 5.707256 349.￿)2 1.388 1,388 75.036 6.(￿m.069 8,079.105 294.19) 294.1 517.756 5.540.Lh13 6,057,799 370.614 6.1)04.069 6.374,fj83 Related party Iran5actions 17-