2023-03-31-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 YEAR ENDED 31 MARCH 2023

`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 YEAR ENDED 31 MARCH 2023`

	`Page`
`Report of the Trustees`	`1 to 2`
`Independent Examiner's Report`	`3`
`Statement of Financial Activities`	`4`
`Balance Sheet`	`5 to 6`
`Notes to the Financial Statements`	`7 to 12`
`Detailed Statement of Financial Activities`	`13 to 14`

PORINGLAND FUEL ALLOTMENT

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31March2023.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic 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`

The Statementof FinancialActivitiescoveringthe periodfrom1 April2022to 31 March2023is set outon page four.
A £42,677 unrealisedloss on investmentsand £22,249 unrealisedgain on revaluationof investmentpropertyhas  been
debitedtotheCapitalFund.TheTrusteesareconfidentthatinvestmentsshould,inthelongterm,yieldboth a
satisfactorylevelof incomeandcapitalappreciation.TheCapitalFundis retainedtogenerateincomeintothe future
in orderto fulfilthe objectivesof the Charity.Duringthe periodthe Charityreceived investmentincome amounting to
£31,144andexpended£25,593ongrantstoindividualsandgrantsof£1,560totootherbodies.Charitable support
costsamountedto£15,979.ThisresultedinnetoutgoingresourcesfromtheGeneralFundof£3,945following a
decisionbytheTrusteestodepletethegeneralfundsothatoneyearscharitableexpenditureisretained. Therefore
totaloutgoingresourcesnettedto£32,416and,consequently,at31March2023totalfundsstoodat£680,970. Of
this, £29,622 is held in the unrestricted general fund.

A transferof £8,043has been made to reflectinvestmentpropertyrepaircosts properlychargeableto the Permanent
Endowment Fund.

`Property and investments`

The Charityretains12.818 acres of grazingland which has been includedat market value of £50,000and a  residential
propertyincludedat valuationof £200,000.At 31 March2023 the Charityheld cash reserves of £31,190. Investments
withFidelityManagementhadamarketvalueat31March2023of£401,348,experiencinganunrealisedloss of
£42,677 over the value at 1 April 2022.

Page 1

PORINGLAND FUEL ALLOTMENT

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023`

`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
Rev'd R H Parsonage
Mrs A J Randall
A C Wright
Mrs S Wilkinson (appointed 30.10.22)

`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

Approved by order of the board of trustees on 5 July 2023 and signed on its behalf by:

D R Gooderham - Trustee

Page 2

`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 report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

`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

6 July 2023

Page 3

PORINGLAND FUEL ALLOTMENT

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`

`Year Ended` `31.3.23` `Unrestricted` `Endowment` `Total` `fund` `fund` `funds` `Notes` `£` `£` `£` `INCOME AND ENDOWMENTS FROM` `Investment income` `2` `31,144` `-` `31,144` `EXPENDITURE ON` `Raising funds` `3` `15,979` `-` `15,979` `Charitable activities` `Charitable activities` `27,153` `-` `27,153` `Total` `43,132` `-` `43,132` `Net gains/(losses) on investments` `-` `(20,428)` `(20,428)` `NET INCOME/(EXPENDITURE)` `(11,988)` `(20,428)` `(32,416)` `Transfers between funds` `11` `8,043` `(8,043)` `-` `Net movement in funds` `(3,945)` `(28,471)` `(32,416)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `33,567` `679,819` `713,386` `TOTAL FUNDS CARRIED FORWARD` `29,622` `651,348` `680,970`	`Period` `1.12.20` `to` `31.3.22` `Total` `funds` `£` `38,291`
	`10,079` `41,016`
	`51,095`
	`15,332`
	`2,528` `-`
	`2,528` `710,858`
	`713,386`

The notes form part of these financial statements

Page 4

`PORINGLAND FUEL ALLOTMENT`

`BALANCE SHEET 31 MARCH 2023`

`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` `£` `-` `-` `-` `-` `31,190` `31,190` `(1,568)` `29,622` `29,622` `29,622`	`Endowment` `fund` `£` `401,348` `250,000` `651,348` `-` `-` `-` `-` `-` `651,348` `651,348`	`2023` `Total` `funds` `£` `401,348` `250,000` `651,348` `-` `31,190` `31,190` `(1,568)` `29,622` `680,970` `680,970` `29,622` `651,348` `680,970`	`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`

The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year
ended 31 March 2023.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 March 2023 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 5

`PORINGLAND FUEL ALLOTMENT`

`BALANCE SHEET - continued 31 MARCH 2023`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon5July2023and were
signed on its behalf by:

D R Gooderham - Trustee

The notes form part of these financial statements

Page 6

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023`

`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 7

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`2. INVESTMENT INCOME`

`INVESTMENT INCOME`
		`Period`
		`1.12.20`
	`Year Ended`	`to`
	`31.3.23`	`31.3.22`
	`£`	`£`
`Rents received`	`9,990`	`10,240`
`Grazing land rent`	`1,138`	`1,457`
`Fixed term interest`	`288`	`723`
`Dividends`	`19,728`	`25,871`
	`31,144`	`38,291`

`3. RAISING FUNDS`

`Raising donations and legacies`

`Raising donations and legacies`
		`Period`
		`1.12.20`
	`Year Ended`	`to`
	`31.3.23`	`31.3.22`
	`£`	`£`
`Support costs`	`15,979`	`10,079`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31 March2023norforthe period
ended 31 March 2022.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31March2023norfortheperiod ended
31 March 2022.

`5. STAFF COSTS`

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

		`Period`
		`1.12.20`
	`Year Ended`	`to`
	`31.3.23`	`31.3.22`
`Trustees`	`5`	`5`

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

continued...

Page 8

`PORINGLAND FUEL ALLOTMENT`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

		`Unrestricted`	`Unrestricted`	`Endowment`	`Endowment`	`Total`
		`fund`		`fund`		`funds`
		`£`		`£`		`£`
	`INCOME AND ENDOWMENTS FROM`
	`Investment income`	`38,291`			`-`	`38,291`
	`EXPENDITURE ON`
	`Raising funds`	`7,831`		`2,248`		`10,079`
	`Charitable activities`
	`Charitable activities`	`41,016`			`-`	`41,016`
	`Total`	`48,847`		`2,248`		`51,095`
	`Net gains on investments`		`-`	`15,332`		`15,332`
	`NET INCOME/(EXPENDITURE)`	`(10,556)`		`13,084`		`2,528`
	`Transfers between funds`	`1,705`		`(1,705)`		`-`
	`Net movement in funds`	`(8,851)`		`11,379`		`2,528`
	`RECONCILIATION OF FUNDS`
	`Total funds brought forward`	`42,418`		`668,440`		`710,858`
	`TOTAL FUNDS CARRIED FORWARD`	`33,567`		`679,819`		`713,386`
`7.`	`FIXED ASSET INVESTMENTS`
						`Unlisted`
						`investments`
						`£`
	`MARKET VALUE`
	`At 1 April 2022`					`451,099`
	`Disposals`					`(5,287)`
	`Impairments`					`(44,464)`
	`At 31 March 2023`					`401,348`
	`NET BOOK VALUE`
	`At 31 March 2023`					`401,348`
	`At 31 March 2022`					`451,099`

There were no investment assets outside the UK.

continued...

Page 9

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`7. FIXED ASSET INVESTMENTS - continued`

Cost or valuation at 31 March 2023 is represented by:

				`Unlisted`
				`investments`
				`£`
	`Valuation in 2023`			`(29,131)`
	`Cost`			`430,479`
				`401,348`
`8.`	`INVESTMENT PROPERTY`
				`£`
	`FAIR VALUE`
	`At 1 April 2022`			`227,751`
	`Revaluation`			`22,249`
	`At 31 March 2023`			`250,000`
	`NET BOOK VALUE`
	`At 31 March 2023`			`250,000`
	`At 31 March 2022`			`227,751`
	`Fair value at 31 March 2023 is represented by:`
				`£`
	`Valuation in 2022`			`34,138`
	`Valuation in 2023`			`22,249`
	`Cost`			`193,613`
				`250,000`
`9.`	`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
		`2023`		`2022`
		`£`		`£`
	`Prepayments`		`-`	`463`

continued...

Page 10

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Accrued expenses` `11.` `MOVEMENT IN FUNDS` `Unrestricted funds` `General fund` `Endowment funds` `Permanent Endowment fund` `TOTAL FUNDS` `Net movement in funds, included in the above are a` `Unrestricted funds` `General fund` `Endowment funds` `Permanent Endowment fund` `TOTAL FUNDS` `Comparatives for movement in funds` `Unrestricted funds` `General fund` `Endowment funds` `Permanent Endowment fund` `TOTAL FUNDS`	`At 1.4.22` `£` `33,567` `679,819` `713,386` `s follows:` `Incoming` `resources` `£` `31,144` `-` `31,144` `At` `1.12.20` `£` `42,418` `668,440` `710,858`	`Net` `movement` `in funds` `£` `(11,988)` `(20,428)` `(32,416)` `Resources` `expended` `£` `(43,132)` `-` `(43,132)` `Net` `movement` `in funds` `£` `(10,556)` `13,084` `2,528`	`2023` `2022` `£` `£` `1,568` `2,278` `Transfers` `between` `At` `funds` `31.3.23` `£` `£` `8,043` `29,622` `(8,043)` `651,348` `-` `680,970` `Gains and` `Movement` `losses` `in funds` `£` `£` `-` `(11,988)` `(20,428)` `(20,428)` `(20,428)` `(32,416)` `Transfers` `between` `At` `funds` `31.3.22` `£` `£` `1,705` `33,567` `(1,705)` `679,819` `-` `713,386`

continued...

Page 11

PORINGLAND FUEL ALLOTMENT

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023`

`11. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`38,291`	`(48,847)`	`-`	`(10,556)`
`Endowment funds`
`Permanent Endowment fund`	`-`	`(2,248)`	`15,332`	`13,084`
`TOTAL FUNDS`	`38,291`	`(51,095)`	`15,332`	`2,528`

`12. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 March 2023.

Page 12

PORINGLAND FUEL ALLOTMENT

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`

`FOR THE YEAR ENDED 31`	`MARCH 2023`
		`Period`
		`1.12.20`
	`Year Ended`	`to`
	`31.3.23`	`31.3.22`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Investment income`
`Rents received`	`9,990`	`10,240`
`Grazing land rent`	`1,138`	`1,457`
`Fixed term interest`	`288`	`723`
`Dividends`	`19,728`	`25,871`
	`31,144`	`38,291`
`Total incoming resources`	`31,144`	`38,291`
`EXPENDITURE`
`Charitable activities`
`Grants to institutions`	`1,560`	`3,950`
`Grants to individuals`	`25,593`	`37,066`
	`27,153`	`41,016`
`Support costs`
`Management`
`Insurance`	`129`	`115`
`Postage and stationery`	`-`	`26`
`Website costs`	`303`	`859`
`Sundries`	`12`	`133`
`Independent examiners fees`	`1,253`	`962`
`Investment management fees`	`2,045`	`3,441`
`Legal fees`	`-`	`1,227`
`Honorarium`	`1,000`	`1,750`
`Rental property costs`	`1,289`	`1,447`
`Rental property repairs`	`9,846`	`-`
	`15,877`	`9,960`
`Finance`
`Bank charges`	`102`	`119`
`Total resources expended`	`43,132`	`51,095`
`Net expenditure before gains and losses`	`(11,988)`	`(12,804)`
`Realised recognised gains and losses`
`Carried forward`	`(12,090)`	`(12,923)`

This page does not form part of the statutory financial statements

Page 13

PORINGLAND FUEL ALLOTMENT

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023`

		`Period`
		`1.12.20`
	`Year Ended`	`to`
	`31.3.23`	`31.3.22`
	`£`	`£`
`Realised recognised gains and losses`
`Brought forward`	`(12,090)`	`(12,923)`
`Realised gains/(losses) on fixed asset`
`investments`	`1,787`	`-`
`Net expenditure`	`(10,201)`	`(12,804)`

This page does not form part of the statutory financial statements

Page 14