## **TURPIN'S CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)
## **OBJECTIVES AND ACTIVITIES**
Turpin's Charity is a CIO and is governed by a Trust Deed. Turpin’s charity provides grants to those who are in a condition of hardship, distress (whether physical, financial or mental) who reside in the parish of Aston Clinton or the parish of Cholesbury-cum-St Leonards. Turpin's Charity begin in 1736 when Widow Turpin died, in her will she bequeathed all of her freehold land within the parish of Aston Clinton to the benefit those in need of monetary support in Aston Clinton and the parish of Cholesbury-cum-St Leonards forever. Today the charity continues to support those in need.
Objectives/Purposes
1. To relieve persons who are in conditions of need, hardship or distress whether physical, financial or mental.
2. To assist with the education and training of young persons.
3. To assist with the provision of residential accommodation.
4. To assist with the provision of any other benefit.
The trustees have had regard to guidance issued by the Charity Commission on public benefit. The Board of trustees have quarterly meetings at which they review and award grants to those in need.
## **ACHIEVEMENTS AND PERFORMANCE**
In 2022 the charity reviewed grant applications and awarded 15 grants to members of the local community.
The charity provided a range of grants to individuals and local community organisations to relieve financial and physical hardship, including:
- A local hospice who provide essential care and support to members of the community.
- A local mental health charity which supports members of our community to attend wellbeing sessions in an outdoor setting.
- A local School, to support the creation of a mental health garden.
- Two local churches, to provide an improved environment for working with the local community
- Individual grants which considerably improved living conditions, health and wellbeing for several members of the community.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an incorporated charity
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Registered Charity number 1192370 **Principal address**
Mr R Maskell c/o 12 Brook Street Aston Clinton Aylesbury Buckinghamshire HP22 5ES
## **Trustees**
R E Maskell Trustee J Allen Trustee S Bottomer Trustee N Brigden Trustee J Watson Trustee
## **Independent Examiner**
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
## **Solicitors**
The Charity's solicitors are Horwood & James LLP.
Approved by order of the board of trustees on 14 Sept 2023 and signed on its behalf by:
R E Maskell - Trustee
**REGISTERED COMPANY NUMBER: CE023879 (England and Wales) REGISTERED CHARITY NUMBER: 1192370**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FOR**
## **TURPIN'S CHARITY**
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
**TURPIN'S CHARITY**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|2|
|**Statement of Financial Activities**|3|
|**Balance Sheet**|4|
|**Notes to the Financial Statements**|5 to 9|
|**Detailed Statement of Financial Activities**|10|
**TURPIN'S CHARITY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Company number** CE023879 (England and Wales)
**Registered Charity number** 1192370
## **Registered office**
Mr R Maskell c/o 12 Brook Street Aston Clinton Aylesbury Buckinghamshire HP22 5ES
## **Trustees**
R E Maskell Trustee J Allen Trustee S Bottomer Trustee N Brigden Trustee J Watson
## **Company Secretary**
## **Independent Examiner**
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
Approved by order of the board of trustees on 8 September 2023 and signed on its behalf by:
R E Maskell - Trustee
Page 1
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TURPIN'S CHARITY**
## **Independent examiner's report to the trustees of Turpin's Charity ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with 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)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michael J Rudd FCA
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
8 September 2023
Page 2
**TURPIN'S CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable activites
Other
**Total**
**NET INCOME**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Year Ended
31.12.22
Unrestricted
funds
£
1
47,917
47,918
47,327
307
47,634
284
333,759
334,043
1,285,837
1,619,880|Period
17.11.20
to
31.12.21
Total
funds
£
-
46,148|
|---|---|---|
|||46,148|
|||32,802
307|
|||33,109|
|||13,039
-|
|||13,039
1,272,798|
|||1,285,837|
The notes form part of these financial statements
Page 3
**TURPIN'S CHARITY**
## **BALANCE SHEET 31 DECEMBER 2022**
|Notes
**FIXED ASSETS**
**Investments**
Investments
5
Investment property
6
**CURRENT ASSETS**
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
7
**TOTAL FUNDS**|2022
Unrestricted
funds
£
1,616,838
2,000
1,618,838
1,042
1,042
1,619,880
1,619,880
1,619,880
1,619,880|2021
Total
funds
£
1,277,334
2,000|
|---|---|---|
|||1,279,334
6,503|
|||6,503|
|||1,285,837|
|||1,285,837|
|||1,285,837|
|||1,285,837|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8 September 2023 and were signed on its behalf by:
R E Maskell - Trustee
The notes form part of these financial statements
Page 4
**TURPIN'S CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from 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.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 5
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
|||Period|
|||17.11.20|
||Year Ended|to|
||31.12.22|31.12.21|
||£|£|
|Allotment income|173|173|
|Other fixed asset invest - FII|47,589|45,972|
|Curr asset inv income|155|3|
||47,917|46,148|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the period ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the period ended 31 December 2021.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Charitable activites
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
46,148
32,802
307
33,109
13,039
1,272,798
1,285,837|
|---|---|
continued...
Page 6
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
There were no investment assets outside the UK.
Cost or valuation at 31 December 2022 is represented by:
Valuation in 2022
**6.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 January 2022
and 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
**7.**
**MOVEMENT IN FUNDS**
At 1.1.22
£
**Unrestricted funds**
General fund
8,503
Charities deposit fund
1,277,334
1,285,837
**TOTAL FUNDS**
1,285,837|Net
movement
in funds
31.12.22
£
(47,461 )
381,504
334,043
334,043|Transfers
between
funds
£
42,000
(42,000 )
-
-|Unlisted
investments
£
1,277,334
47,745
(42,000 )
333,759
1,616,838
1,616,838
1,277,334
Unlisted
investments
£
1,616,838
£
2,000
2,000
2,000
At
£
3,042
1,616,838
1,619,880
1,619,880|
|---|---|---|---|
continued...
Page 7
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **7. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Charities deposit fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Charities deposit fund
**TOTAL FUNDS**|Incoming
resources
£
173
47,745
47,918
47,918
At
17.11.20
£
11,439
1,261,359
1,272,798
1,272,798||Resources
expended
£
(47,634 )
-
(47,634 )
(47,634 )
Net
movement
in funds
£
(32,936 )
45,975
13,039
13,039||Gains and
losses
£
-
333,759
333,759
333,759
Transfers
between
funds
£
30,000
(30,000 )
-
-|Movement
in funds
£
(47,461 )
381,504
334,043
334,043
At
31.12.21
£
8,503
1,277,334
1,285,837
1,285,837|
|---|---|---|---|---|---|---|
||||||||
||||||||
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|173|(33,109 )|(32,936 )|
|Charities deposit fund|45,975|-|45,975|
||46,148|(33,109 )|13,039|
|**TOTAL FUNDS**|46,148|(33,109 )|13,039|
continued...
Page 8
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022.
Page 9
**TURPIN'S CHARITY**
**DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
0
|||Period|
|---|---|---|
|||17.11.2|
||Year Ended|to|
||31.12.22|31.12.21|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|1|-|
|**Investment income**|||
|Allotment income|173|173|
|Other fixed asset invest - FII|47,589|45,972|
|Curr asset inv income|155|3|
||47,917|46,148|
|**Total incoming resources**|47,918|46,148|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Grants to individuals|44,135|29,703|
|**Other**|||
|Insurance|307|307|
|**Support costs**|||
|**Governance costs**|||
|Wages|1,392|1,299|
|Accountancy and legal fees|1,800|1,800|
||3,192|3,099|
|Total resources expended|47,634|33,109|
|**Net income**|284|13,039|
This page does not form part of the statutory financial statements
Page 10
**REGISTERED COMPANY NUMBER: CE023879 (England and Wales) REGISTERED CHARITY NUMBER: 1192370**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FOR**
## **TURPIN'S CHARITY**
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
**TURPIN'S CHARITY**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
||**Page**|
|---|---|
|**Report of the Trustees**|1|
|**Independent Examiner's Report**|2|
|**Statement of Financial Activities**|3|
|**Balance Sheet**|4|
|**Notes to the Financial Statements**|5 to 9|
|**Detailed Statement of Financial Activities**|10|
**TURPIN'S CHARITY**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered Company number** CE023879 (England and Wales)
**Registered Charity number** 1192370
## **Registered office**
Mr R Maskell c/o 12 Brook Street Aston Clinton Aylesbury Buckinghamshire HP22 5ES
## **Trustees**
R E Maskell Trustee J Allen Trustee S Bottomer Trustee N Brigden Trustee J Watson
## **Company Secretary**
## **Independent Examiner**
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
Approved by order of the board of trustees on 8 September 2023 and signed on its behalf by:
R E Maskell - Trustee
Page 1
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TURPIN'S CHARITY**
## **Independent examiner's report to the trustees of Turpin's Charity ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with 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)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michael J Rudd FCA
Four Oaks Taxation & Accounting Services Limited Suite D, Astor House 282 Lichfield Road Four Oaks Sutton Coldfield West Midlands B74 2UG
8 September 2023
Page 2
**TURPIN'S CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable activites
Other
**Total**
**NET INCOME**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Year Ended
31.12.22
Unrestricted
funds
£
1
47,917
47,918
47,327
307
47,634
284
333,759
334,043
1,285,837
1,619,880|Period
17.11.20
to
31.12.21
Total
funds
£
-
46,148|
|---|---|---|
|||46,148|
|||32,802
307|
|||33,109|
|||13,039
-|
|||13,039
1,272,798|
|||1,285,837|
The notes form part of these financial statements
Page 3
**TURPIN'S CHARITY**
## **BALANCE SHEET 31 DECEMBER 2022**
|Notes
**FIXED ASSETS**
**Investments**
Investments
5
Investment property
6
**CURRENT ASSETS**
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted funds
7
**TOTAL FUNDS**|2022
Unrestricted
funds
£
1,616,838
2,000
1,618,838
1,042
1,042
1,619,880
1,619,880
1,619,880
1,619,880|2021
Total
funds
£
1,277,334
2,000|
|---|---|---|
|||1,279,334
6,503|
|||6,503|
|||1,285,837|
|||1,285,837|
|||1,285,837|
|||1,285,837|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8 September 2023 and were signed on its behalf by:
R E Maskell - Trustee
The notes form part of these financial statements
Page 4
**TURPIN'S CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from 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.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 5
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
|||Period|
|||17.11.20|
||Year Ended|to|
||31.12.22|31.12.21|
||£|£|
|Allotment income|173|173|
|Other fixed asset invest - FII|47,589|45,972|
|Curr asset inv income|155|3|
||47,917|46,148|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the period ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the period ended 31 December 2021.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Charitable activites
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
46,148
32,802
307
33,109
13,039
1,272,798
1,285,837|
|---|---|
continued...
Page 6
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 January 2022
Additions
Disposals
Revaluations
At 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
There were no investment assets outside the UK.
Cost or valuation at 31 December 2022 is represented by:
Valuation in 2022
**6.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 January 2022
and 31 December 2022
**NET BOOK VALUE**
At 31 December 2022
At 31 December 2021
**7.**
**MOVEMENT IN FUNDS**
At 1.1.22
£
**Unrestricted funds**
General fund
8,503
Charities deposit fund
1,277,334
1,285,837
**TOTAL FUNDS**
1,285,837|Net
movement
in funds
31.12.22
£
(47,461 )
381,504
334,043
334,043|Transfers
between
funds
£
42,000
(42,000 )
-
-|Unlisted
investments
£
1,277,334
47,745
(42,000 )
333,759
1,616,838
1,616,838
1,277,334
Unlisted
investments
£
1,616,838
£
2,000
2,000
2,000
At
£
3,042
1,616,838
1,619,880
1,619,880|
|---|---|---|---|
continued...
Page 7
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **7. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Charities deposit fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Charities deposit fund
**TOTAL FUNDS**|Incoming
resources
£
173
47,745
47,918
47,918
At
17.11.20
£
11,439
1,261,359
1,272,798
1,272,798||Resources
expended
£
(47,634 )
-
(47,634 )
(47,634 )
Net
movement
in funds
£
(32,936 )
45,975
13,039
13,039||Gains and
losses
£
-
333,759
333,759
333,759
Transfers
between
funds
£
30,000
(30,000 )
-
-|Movement
in funds
£
(47,461 )
381,504
334,043
334,043
At
31.12.21
£
8,503
1,277,334
1,285,837
1,285,837|
|---|---|---|---|---|---|---|
||||||||
||||||||
Comparative net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|173|(33,109 )|(32,936 )|
|Charities deposit fund|45,975|-|45,975|
||46,148|(33,109 )|13,039|
|**TOTAL FUNDS**|46,148|(33,109 )|13,039|
continued...
Page 8
**TURPIN'S CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022.
Page 9
**TURPIN'S CHARITY**
**DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
0
|||Period|
|---|---|---|
|||17.11.2|
||Year Ended|to|
||31.12.22|31.12.21|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Gifts|1|-|
|**Investment income**|||
|Allotment income|173|173|
|Other fixed asset invest - FII|47,589|45,972|
|Curr asset inv income|155|3|
||47,917|46,148|
|**Total incoming resources**|47,918|46,148|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Grants to individuals|44,135|29,703|
|**Other**|||
|Insurance|307|307|
|**Support costs**|||
|**Governance costs**|||
|Wages|1,392|1,299|
|Accountancy and legal fees|1,800|1,800|
||3,192|3,099|
|Total resources expended|47,634|33,109|
|**Net income**|284|13,039|
This page does not form part of the statutory financial statements
Page 10