2022-03-31-accounts - Poringland Fuel Allotment

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REGISTERED COMPANY NUMBER: 11674014 (England and Wales)
REGISTERED CHARITY NUMBER: 1192007

`REPORT OF THE TRUSTEES AND`

UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD
1 DECEMBER 2020 TO 31 MARCH 2022

`FOR`

`PORINGLAND FUEL ALLOTMENT`

Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR

PORINGLAND FUEL ALLOTMENT

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

	`Page`
`Report of the Trustees`	`1 to 3`
`Independent Examiner's Report`	`4`
`Statement of Financial Activities`	`5`
`Balance Sheet`	`6 to 7`
`Notes to the Financial Statements`	`8 to 12`

PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014)

`REPORT OF THE TRUSTEES`

`FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheperiod1December2020to31March2022.Thetrustees have
adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUK and
Republic of Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

The Charitywas establishedby Trust Deed in 1805.The objectivefor which the Charitywas establishedis the relieving
ofneed,hardshipordistressoftheresidentsoftheparishofPoringland,Norfolk.InMay1996theobjectives were
widenedwithCharityCommissionapprovalto encompassthe applicationof fundsnotrequiredforthe abovefor the
general benefit of the residents of the parish.

On1December2020thefundsoftheoriginalcharity(CharityNumber246265)weretransferredtothis charitable
company. The charitable company's objects are now defined as:

For the benefit of those living in the parish of Poringland by the provision of grants to further the following purposes:-

- the relief of poverty, in particular by the provision of winter fuel payments to those in need

-suchcharitablepurposesforthepublicbenefitasareexclusivelycharitableaccordingtothelawsofEngland and
Wales as the trustees may from time to time determine.

`Significant activities and public benefit`

IncomewillbedistributedtothoselivingintheparishofPoringlandwhoareinneedthroughhardshipor distress.
This will include:-

- winter fuel payments to those in need

- emergency grants to those in hardship or distress

- grants to students to support the cost of their further educational needs

-grantstocommunityorganisationsforprojectswhichprovidesports,leisure,educationalorrelated facilities
primarily benefitting Poringland residents.

`Financial review`

As referredto above,the funds of PoringlandFuel AllotmentCharitywere transferredinto this charitablecompany on
1December2020.Thesetotalled£710,858comprisingunrestrictedgeneralfundsof£42,418and permanent
endowment funds of £668,440.

The Statementof FinancialActivitiescoveringthe periodfrom1 December2020to 31 March2022is set outon page
five.A £15,332unrealisedloss on investmentshas been debitedto the CapitalFund.The Trusteesare confident that
investmentsshould,inthelongterm,yieldbothasatisfactorylevelofincomeandcapitalappreciation.The Capital
FundisretainedtogenerateincomeintothefutureinordertofulfiltheobjectivesoftheCharity.Duringthe period
theCharityreceivedinvestmentincomeamountingto£38,291andexpended£37,066ongrantstoindividuals and
grantsof£3,950totootherbodies.Charitablesupportcostsamountedto£10,079.Thisresultedinnet outgoing
resourcesfromtheGeneralFundof £10,556followinga decisionbytheTrusteestodepletethegeneralfundso that
one yearscharitableexpenditureis retained.Thereforetotalincomingresourcesnettedto £2,528and, consequently,
at 31 March 2022 total funds stood at £713,386. Of this, £33,567 is held in the unrestricted general fund.

A transferof £1,705 has been made to reflect legal fees relatingto incorporationof the charityincurredby the  former
unincorporated charity properly chargeable to the Permanent Endowment Fund.

Page 1

PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014)

`REPORT OF THE TRUSTEES`

`FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`OBJECTIVES AND ACTIVITIES`

`Property and investments`

The Charityretains12.818 acres of grazingland which has been includedat market value of £50,000and a  residential
propertyincludedatcostof£177,751whichequatestomarketvalue.At31March2022theCharityheld cash
reservesof£36,351.InvestmentswithFidelityManagementhadamarketvalueat31March2022of £451,099,
experiencing an unrealised gain of £15,332 over the value at 1 December 2020.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

`Organisational structure`

The Trust Deed stipulatesthat there shall be not fewer than three directors.All directorsmust contributeto the day  to
day running of the Charity.

`Reserves policy`

The Trustees have decided to hold unrestricted reserves sufficient to meet up to one year of charitable expenditure.

`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`

11674014 (England and Wales)

`Registered Charity number`

`Registered office`

59 Norwich Road
Poringland
Norwich
Norfolk
NR14 7QX

`Trustees`

D R Gooderham
Mrs S M Hoyle (resigned 9.5.21)
Rev'd R H Parsonage
Mrs A J Randall
P A Sayles (resigned 6.5.21)
A C Wright

`Independent Examiner`

Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR

`Advisers`

Alan Boswell & Company Ltd
Prospect House
Rouen Road
Norwich NR1 1RE

Page 2

PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014)

`REPORT OF THE TRUSTEES FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

Approved by order of the board of trustees on 3 October 2022 and signed on its behalf by:

D R Gooderham - Trustee

Page 3

`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORINGLAND FUEL ALLOTMENT`

`Independent examiner's report to the trustees of Poringland Fuel Allotment ('the Company')`

I reportto the charitytrusteeson my examinationof the accountsof the Companyfor the period1 December 2020 to
31 March 2022.

`Responsibilities and basis of report`

As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006  Act
andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

M Lamb
Quinneys
Chartered Certified Accountants
Saxon House
Hellesdon Park Road
Norwich
Norfolk
NR6 5DR

10 October 2022

Page 4

PORINGLAND FUEL ALLOTMENT

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`Unrestricted` `Endowment` `fund` `fund` `Notes` `£` `£` `INCOME AND ENDOWMENTS FROM` `Investment income` `2` `38,291` `-` `EXPENDITURE ON` `Raising funds` `3` `7,831` `2,248` `Charitable activities` `Charitable activities` `41,016` `-` `Total` `48,847` `2,248` `Net gains on investments` `-` `15,332` `NET INCOME/(EXPENDITURE)` `(10,556)` `13,084` `Transfers between funds` `11` `1,705` `(1,705)` `Net movement in funds` `(8,851)` `11,379` `RECONCILIATION OF FUNDS` `Total funds brought forward` `42,418` `668,440` `TOTAL FUNDS CARRIED FORWARD` `33,567` `679,819`	`Period` `1.12.20` `to` `Year Ended` `31.3.22` `30.11.20` `Total` `Total` `funds` `funds` `£` `£` `38,291` `-` `10,079` `-` `41,016` `-` `51,095` `-` `15,332` `-` `2,528` `-` `-` `-` `2,528` `-` `710,858` `-` `713,386` `-`	`Period` `1.12.20` `to` `Year Ended` `31.3.22` `30.11.20` `Total` `Total` `funds` `funds` `£` `£` `38,291` `-` `10,079` `-` `41,016` `-` `51,095` `-` `15,332` `-` `2,528` `-` `-` `-` `2,528` `-` `710,858` `-` `713,386` `-`
		`-` `-`
		`-`
		`-`
		`-` `-`
		`-` `-`
		`-`

Surplus and Deficit Account 968

Postingdiscrepancieswere found in the reserve accountslisted below. This is because the broughtforwardpostings in
the currentyear are not equal to the figures carriedforwardby IRIS at the end of last year. Please check your postings
in the brought forward account for the surplus and deficit account 968.

	`Unrestricted`	`Endowment`
	`funds`	`funds`	`Total funds`
	`£`	`£`	`£`
`Brought forward - 968/1`	`42,418`	`668,440`	`710,858`
`Carried forward`	`-`	`-`	`-`
`Difference`	`(42,418)`	`(668,440)`	`(710,858)`

Post to relevant accounts (see ICHA chart of accounts for further details)

The notes form part of these financial statements

Page 5

`PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014)`

`BALANCE SHEET 31 MARCH 2022`

`Notes` `FIXED ASSETS` `Investments` `Investments` `7` `Investment property` `8` `CURRENT ASSETS` `Debtors` `9` `Cash at bank` `CREDITORS` `Amounts falling due within one year` `10` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT LIABILITIES` `NET ASSETS` `FUNDS` `11` `Unrestricted funds` `Endowment funds` `TOTAL FUNDS`	`Unrestricted` `fund` `£` `-` `-` `-` `463` `35,382` `35,845` `(2,278)` `33,567` `33,567` `33,567`	`Endowment` `fund` `£` `451,099` `227,751` `678,850` `-` `969` `969` `-` `969` `679,819` `679,819`	`2022` `Total` `funds` `£` `451,099` `227,751` `678,850` `463` `36,351` `36,814` `(2,278)` `34,536` `713,386` `713,386` `33,567` `679,819` `713,386`	`2020` `Total` `funds` `£` `-` `-`
				`-` `-` `-`
				`-` `-`
				`-`
				`-`
				`-`
				`-` `-`
				`-`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006for the
period ended 31 March 2022.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheperiod ended
31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 6

`PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014)`

`BALANCE SHEET - continued 31 MARCH 2022`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon3October2022 and
were signed on its behalf by:

D R Gooderham - Trustee

The notes form part of these financial statements

Page 7

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention, with
theexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedbytherevaluationof certain
assets.

`Income`

All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhasentitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis
andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the
use of resources.

Grants offered subject to conditionswhich have not been met at the year end date are noted as a  commitment
but not accrued as expenditure.

`Investment property`

Investmentpropertyis shownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfrom changes
in fair value is recognised in the Statement of Financial Activities.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

continued...

Page 8

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`2. INVESTMENT INCOME`

`INVESTMENT INCOME`
	`Period`
	`1.12.20`
	`to`	`Year Ended`
	`31.3.22`	`30.11.20`
	`£`	`£`
`Rents received`	`10,240`	`-`
`Grazing land rent`	`1,457`	`-`
`Fixed term interest`	`723`	`-`
`Dividends`	`25,871`	`-`
	`38,291`	`-`
`RAISING FUNDS`
`Raising donations and legacies`
	`Period`
	`1.12.20`
	`to`	`Year Ended`
	`31.3.22`	`30.11.20`
	`£`	`£`
`Support costs`	`10,079`	`-`

`3. RAISING FUNDS`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheperiodended31 March2022norforthe year
ended 30 November 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheperiodended31March2022norfortheyear ended
30 November 2020.

`5. STAFF COSTS`

The average monthly number of employees during the period was as follows:

	`Period`
	`1.12.20`
	`to`	`Year Ended`
	`31.3.22`	`30.11.20`
`Trustees`	`5`	`6`

No employees received emoluments in excess of £60,000.

continued...

Page 9

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`6.`	`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`
		`Total`
		`funds`
		`£`
	`NET INCOME`	`-`
	`TOTAL FUNDS CARRIED FORWARD`	`-`
`7.`	`FIXED ASSET INVESTMENTS`
		`Unlisted`
		`investments`
		`£`
	`MARKET VALUE`
	`Additions`	`435,767`
	`Revaluations`	`15,332`
	`At 31 March 2022`	`451,099`
	`NET BOOK VALUE`
	`At 31 March 2022`	`451,099`
	`At 30 November 2020`	`-`
	`There were no investment assets outside the UK.`
	`Cost or valuation at 31 March 2022 is represented by:`
		`Unlisted`
		`investments`
		`£`
	`Valuation in 2022`	`15,332`
	`Cost`	`435,767`
		`451,099`
`8.`	`INVESTMENT PROPERTY`
		`£`
	`FAIR VALUE`
	`Additions`	`227,751`
	`At 31 March 2022`	`227,751`
	`NET BOOK VALUE`
	`At 31 March 2022`	`227,751`
	`At 30 November 2020`	`-`

continued...

Page 10

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Prepayments` `10.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Accrued expenses` `11.` `MOVEMENT IN FUNDS` `At` `1.12.20` `£` `Unrestricted funds` `General fund` `42,418` `Endowment funds` `Permanent Endowment fund` `668,440` `TOTAL FUNDS` `710,858` `Net movement in funds, included in the above are as follows:` `Incoming` `resources` `£` `Unrestricted funds` `General fund` `38,291` `Endowment funds` `Permanent Endowment fund` `-` `TOTAL FUNDS` `38,291`	`Net` `movement` `in funds` `£` `(10,556)` `13,084` `2,528` `Resources` `expended` `£` `(48,847)` `(2,248)` `(51,095)`	`2022` `2020` `£` `£` `463` `-` `2022` `2020` `£` `£` `2,278` `-` `Transfers` `between` `At` `funds` `31.3.22` `£` `£` `1,705` `33,567` `(1,705)` `679,819` `-` `713,386` `Gains and` `Movement` `losses` `in funds` `£` `£` `-` `(10,556)` `15,332` `13,084` `15,332` `2,528`

continued...

Page 11

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 DECEMBER 2020 TO 31 MARCH 2022`

`12. RELATED PARTY DISCLOSURES`

There were no related party transactions for the period ended 31 March 2022.

`13. TRANSFER OF BALANCES`

On1December2020thefundsofPoringlandFuelAllotmentCharityweretransferredtothis charitable
company. The total amounted to £710,858 comprising:

Unlisted investments  £435,767
Investment property  £227,751
Bank balances  £49,613
Other debtors  £203
Other creditors  £(2,476)

Page 12