REGIsfERED CHARITY NUMBER: 1194243 RT ESAN FIN IAL NDED ARCH WE Annstron8s A£UnIanCY Ltd Chartered Accountsnts and Sthiuw Auditor 1&2 Mercia Village Tonyood Close WesNNtK)d Busin¢ss Park Coventy Wem Midlands CV4 8HX
BERKSW CHARI ONTENTS FOR TH THE FINANCIAL sfATEMEN AR END D3J MARCH 2023 Pagt Report ofthe Trt¢S Report of the IndepeThdtnt Auditors 10 to 12 Staterne4t of FIDn¢knl Artlvlthl 13 Bl#Dce She¢t 14 Nofts tfl the Flmncial Sttennts IS to 23 Detmlled S¢A¢tmtht of FlnaTrel*l Aetivities 24 to 25
BER ARITIES REPORT OF THE TRusfEES FOR THE YEAR ENDE 31 MARCH 202 The trustee5 present th¢ir r¢wrt with the finanGial statements of the charity for the year ended 31 March 2023. The trnstees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practi¢e applicable to charities preparing their accounts in accordanc¢ with ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective l January 20191. ORIECTIVES AND ACTIVITIES Objective5 and Alms The obje¢t$ of the CIO are. for the benefit of the public in the area of benefii: (al {il The provision And maintenance of a site for th¢ S¢hool (within the meanin8 of the Education Acts) tn OT near Berkswell, Wesi Midland5.' and lill The advancemeni of education of pupils in the principles of the c.hurch of England (including Social and physical traininBI through the provision of items, services, facilities. and special benefjts of any kind not required to be provided by the Local Authority for ihe benefit of the School and its pupils. Ibl The rtlief of poverty among ihe inhabitants of the area of benefit, includin8 by the provision of Social Housing in the forn) of Almshouse A¢commodation or other housing a¢¢ommodation Ic)To fvrth¢r the religious and other charitable purposes of th¢ Church of England in the p&rish by maintaining and repairing rhe fabric and contents of the PBri5h Church of Berkswell. Idlsuch other charitable purposes for the bertefit of the inhabitants of the area of benefit as ihe trus¢ees think fit. Page I
BK KSWE Alu REPORT FTHETR FOR THE YEAR £ DED31 EFS CH2 OWECTIVES AND AcfiviTIKS Signifieant rtivities The TNste¢s of Berkswell CFAriti¢s in line with 8wd gvvernance ai all ttmes acted ith the interests of the Charity. Almshouse Propertl¢s The Charity's Alrnsh)u5e prop¢rties total fourteen in number. eight of 1¢h ar¢ siiuated in Church Lane. Berkswell, whilst the remainirtg six are in Cromwtll Lane. Burton Green. The AIMS$¢$ have been continuously occupied throughout ihe accounting period. The 1#] we¢kly maintenance contrib]0 rec¢ived w&4 £89J37 and the fi]¢1 char8e of £7.31]. Other Prop¢rtks Rental Income In 2022 rent review7 were undcrtaken in resi%d of private residential knd ccthmeT¢ial properties. An incremental rent revi¢w was complekd durin8 the Current COuntin8 wiod. One void has existed sin¢e October 2022 and the decision was tsken by the TThstees 10 sell the property on the open market with the proceeds being Teinvtsied. Total income from the investment properti was £91.099. Espendlture The Trustees will coniinut to lde 2nd maintain 411 properties on a qclieal iwis. As will be detemiined by the Trustees. sufficient fund5 will be inveed designated for Ihis purtKJse. The Trustees are aware thai ihe White PapeT and Social Housing IRe8ula¢ion$l Bill 2022- 23, l¥Trj with ihe Energy F.ffieiency R¢8ulations Bill and ihe Social Housin8 Standard places additÈonal ob118atns which shall direcily impact expenditure in the current COUntin8 period and beyond. The Trustees remain conscious of cart*)n-neutral tsrgets and in so far as they ore able, due to the stock. Measures shall be und¢rtaken to minimist emissions. It is proposed that ony new alm55¢ properti¢5 buili will be zero wbon. Almshou Projeet Fund The Almshouse Project Fund estsblished itt line with the StratQ8i¢ objeciivu of Truslrc3 in April 2021, Thr specific purp05¢ of the fund is to develop r¢w Alm5hous¢s wthin the Parith and pmvide additional social housin8 for those in need in line with thc Charity's Objecrs. The fvnd CLtrrenily starS at £271,379 and pgyments have b¢¢n made into this fund durin8 the Current a¢counting wtod of £136.(W. All necessory steps wer¢ takcn by the Tntstce5 to provide clartty and assist wth on8oin8 forttastin8 and budgetin8 oncernin8 the Charity's pernianent pr¢)p¢ni¢s to ensure maxirnisation of iM)me from the investment prop¢rties is obtsined under Charity Law requirements. Publlc beneflt The Charities, trustees have regard to the Charity Commission'5 publi¢ benefft 8uidan¢e when exewising any powers or duties to whirh the guidance is relevanL Page 2
BERKSWELL CHARMFS REPORT OF THE TRUSTEFS THE YE R ENDED31 MAR 21)23 O&JEIVEs AND AcnviTIES Future plans Identified objectives for the sknrt. rn¢dium. and long *rrn. Short Terni Durin8 the Coming y¢ar, ihe charity will continu¢ kn ffijrther the charithble obj¢¢ts and wtll ¢ontirtue to assess and identify all unreali5ed assets, whether property or land. The Truste¢$ will striv¢ within the limits of its income to Tneet prop¢rly PTesenttd requ¢sts for donation$ from those owisations aligned to the objects of the Charity. The Trustee5 will seek to regist¢r wth the Regulator of So¢ial Hou5iDg and progress toward the Ion8er4¢nn objtttive to build additional Almshouse properties. Med5um Tt To wniinue to sttk opportunittes for n¢w income strewns io ensur¢ the needs of benefieiari¢s are met and to ¢nable funds to F¢ sei aside to provide n¢w Almsb)us¢s within the Parish of Berkswell for the benefii of those in need within the Parish and suUdIng area. L•ng Terni To build addttional Almshouse propeTlies for those in ted within the Parish of Berksw¢ll AThJ the SUTTounding areA furthering of the Charitsble objerfs io relieve rKJv¢ny in the areas of benefjt. Page 3
BERKSWELL CH ITIFS REPORT OF THE TRUSTEES HE YEAR ENDED IMAR H 2023 FOR ACHIEVEMENT AND PERFORMANCE CharitAble aetiviti The War MemoriAI Coll#bortive Agreement The Tntsttts en1¢d irrto 8 collaborntive agreement with Berkswrll P•ri5h Council, Thc B¢rkswell Soci¢ty, and St John Baptist Church to rdi5e fvnds to restore the War MenrIal in BeTkswell. These fvnds are held in trust by Berk5wcII Charities ndIng restoNion of the War Memori9] and as such are restricted funds. These fi&rhJs totslled £8.655.61 * 3151 March 2023. DoTh•tlons mxd¢ from 1st Aprll 21)22 to 31rt Mar¢lJ 2023 Berkswell Chureh of ETrgl•J Alded School During the Ount]rt8 period, the following finan¢ial assistsn¢¢ was paid to the Scknl. The Arthur James Bequest of £440.61 was paid to the sch)1 to be placed into a special fijnd in a¢eordan¢e with the tern15 of the bequest to assi pupils otherwise may not be able attend edUCloal visiw either residential or day. Other Donatloms ID Berknwell C of E Prlmry Sehool The Trustees 3190 wred to make the ftllowing &sn4tions in rttp¢¢¢ of Yepaits and maintenanc¢ to the sclk)ol buildings. P4yments were made up of.. Repla¢emertt fire door& £6.300 Electrical Works. £3.916.34 Toilei Block RerbIshment. £6,500 Year 6 it8vers Bibles, £425.32 Quinquennial Inspe¢tion and Inslan¢t ReinstatenKnt vu¥ll0 £1.540 Moniioring orth¢ EYFS Buildin& £540 EYFS Building Tightening of Tie Wires and Groutin& £670 Drain Survey, £l.¢M4 Donation to Community Chri51rnas £6(KI Arthur James Bequ. £440.61 Total donations to the s¢11 durin8 the accounting wiod. £21,906.27 Other School Relakd Expenses Lesal c.osts and Professional R¢rtS £19J18.28 Overall Total. £41,424.55 Flninf ial Agslstltsee to Benelklriu In the Are of Beefit L>)nations to the needy, durtn8 the year. arnounted to £10,893.98 Donations to (trwisations £2.598 HS2 Respite Donaiion5 Crgmwell L4nc. £970.47 Donatlon Agreed upon for the forthcomiDg *ccountlDg Ptriod War Memorial, £2.000.00 None of the granV5 recipients are related parties. Page 4
BERKSWELL CHA FS REPORT OF THE TRusfE FOR T E YEAR ENDED 31 MARCH 2023 ACHJEVEMENT AND PERFORMANCE InYestmen¢ perfonnnce The investments produ¢ed an income of £115.783 during the a¢countin8 pericd. Pm&rAta a8ainsi the 202112022 income this figure 15 higher than the in¢om¢ of the previous seven-month period, £66.397 Dividends received for the Ethical Income Inv¢5thient fund totslled 8.61ppu overthe year. an increase of some 3.3% on ihe previous year. During the current hOunting peTiCM4, the iTtve51ma)i valuations fluctuated. aThJ the permaneni endomrnent value decreased from £3,639.247 to £3.457.799. The investment income units vaiue on 31 March 2022 w&8 308 pence p¢r unit but on the 31st of March 2023. it had decrewd to 282.04 pence uniL an 8.430h decre&%e. The accumulation units hcld were 477 pence a unit on th¢ 5] of Mar¢h 2022 but during the gccouniing period, th¢y had decrewd 465.02 p¢n¢¢ per unit a 2.5 % decrease since the 3] of Mar¢h 2022. Other Ineorn¢ Government Conirtts During the oc¢ounting period, the Ch8]ity did not reeetv¢ any contrts fTom Cenirnl Government or a L41 Authority. Government GrnTrts During the OuntIng period. the Charity did noi receive any grants from Cerrtrnl Government or a LL)eal Authority. Income rtcdved from outside tht United KSDgdom The Charity did nol receive any income from outside the Unite44 Kingdom in ih¢ financi81 peri¢xl. Tr#dini Subsldlgrles The Chftrity does t1 have any tradiii8 sybsidiaries. FINANCIAL REVIEW FlnAncll posltlon Th¢ Ch8rity's fuTrls stood at £9.908,580 on 3 IM March 2023. £6.321.490 was held in unren¢t¢d funds, £129.506 in restrided fill¥Js and £3,457,799 in the pernianent endowTheni nd. PrinelpAI funding sourtes The Chari¢y's principal ndIng stsurvs are imie5trnent divideT5 8nd it)tere5t from the pern)8nent endowment hnds gnd rental in¢omc from the invtstmeni prowies and almsU5e propern"es. Investmtnt poll¢y •nd objeftlv The Charitys investment obje¢ts arc to prote¢i, in so far &$ is reawnable. with the avoidance of undue risk, Ihe re81 value of the ¢apital and in¢ome of the Portfolio, atkr allowance for inflation. Trnsrees also wish io obtain divetEification of invesimettt$ and administrative thlv&nta8es from investment through the COIF Ethic81 Funds. Instment reviews tske platt wtthin the Chrtws TEgular meelings which are reded within the CharÉty minutes. The TTUStces' de¢ision to move the fUJS to the Ethical Funds is ewdence of their on80ing review5. An ass¢ssment of oth¢r investment managers is currently in proce5$ to ensure the Charitys investm¢n¢ rctUrn5, and gr0h are on par across the rnarket. Reserv¢s polley The Trustees consider ihat the income serve held itt the Unrestricted Income Fund of £300.000 is sutTi¢ient to tnsure the ongoing viability of the Charity- The level of reserve5 15 reviewed aonually. Thes¢ fvnds are periodi¢ally invested in the Charity Official Ethical Fund units sIe the 2nd of Juty 2021 and a review of the Ènvestmenis tskes place regularlv. Page 5
BERKSWELL CHA rrIE REPORT OF THE TRUSTE THE EAR KNDED 3] MAR FINAIYCIAL REVIEW SUMMARY AND oirrLOOK During the accounting period, the Trusttts have taken steps w Jvan¢e the maiurnllong-ienn objectives of the Charity whilst ensuring that the 5hort- and medium4erni obje¢tives wrre unaff¢¢ted and charitable aaivities for the public benefjt ¢ontinu¢d. Christopher Powell remained as Cthairnhan wilh Brendan ConTh)r acting as Vic¢ clm74, sinee their appoinimetjt on the Isi of January 2021. This decision was reached to provide coniir)uity and Certainty as th¢ Trustees naviged the th toward a¢hiewts8 the strth8ic aims of the Chirity. A total of eleven Trustees Meetings Mere held during the ae(xJwiting period with an JitIOnal five sp¢¢1 TTUSt¢¢S Me¢trngs kn8ether wth the Annual Bud8et and Strdte8y Meeting. Two Sub Committees have been established. The Alm$USt Project Team and the A11[ Health and Safety, and Risk Sub-committee. Th¢ sU0MmIttee$ are governed by the provisions of the ternts of reference approved by the full Trustee Body and report at each Tntte me¢ling. The annual TTUStees Founders Dinner 0k plwk in S¢wember 2022. Tr Founder5 Dinner is held in r¢membrnnee of the founders and donors over the past 60 yetrs. The TrUet5 consrd¢r this w be an important date in the Caltndllr. The Trustee5 have applied io register wilh the Re8ulator of SOCI Housing and it 1$ hoped that a decision will be made during the ne twrlve months. The Charity has #150 gIslered as a member of the Almshouse Consortium Limited whieh is the vchicl¢ through which grants frorn Homes En818nd will be secured for the Almshouse project. The Almsl¥)use project h&5 required Jdiiional commitment at)d dedication from the Trustee5. The Almshouse Project sub-committee now meets fortnighily io ensure thai at ail times ihe neees58ry risks that are involved with the project 4 brought before the Trustee IKx4y. The Project remwns in the early stages and a risk.b&sed approach is being iaken before a final commitmeni proceed is thk¢n by ihe Trustees to ensure the find18[ viability of the project and protect the sets of th¢ Charity. The Tnwees have been cleme]Y conscious of the need underfake all risk assessments in respeet of their decision-m&kin8. Financial asstssments are revIed eoTthnily to emure that the pernJ4nenf endowmeni of the Charity will be maintained in perpetuity. The last tmtlve months have been challenging bth rewarding. The Trustees have made headway in achieving their straiegic obje¢iives to ensure th¢ Charity cortiftues to evolve. fvrther5 the Charitable obJKt& and h&s kepf up to date with 211 legi4lative chan8es Thc Trwte•s f•¢1 th* Chftrity is wrll%)la¢ed ov¢r the Rmhwmln8 y¢art and has now established a solid foundation for gromh. The TteS have at all times obtsird professional advice when deemed necessw or required to do so by way of $taiutory provisions. All decisions taken have bcen in the best interests of ihe Charity. STRuURE, GOVERNANCE AND MANAGEME Governing document Th¢ Charity, in its curr¢ni forrn &$ a CIO. was establi5ha by a COnltUtion dated 27th of April 2021. Page 6
BERKSWELL RITI REPORT OF THE TRU FOR THE YEAR ENDED31 M 211 STRUCTURE. GOVERNANCE AND MA]YAGEMENr Rtcrnitinent artd app)intmeD¢ of thew Irusttts The b¢)dy of 1'nLsiees must ¢onsist of tKTri less than 4 N)r MOTE than 9 app)iftted trust¢es' l ex offi¢io tru5t¢¢: and not l¢ss than I rK)r more than 2 nomtnated trustees. The Ex4)fficio Truste¢s shall bc The Rector of Si John Bapti Chur¢h. The Parochial Church Coun¢il IPCC) of the Parish of St John Baptist Berkswrll appoints t%4D Nominaied Trustees. Each appointment of a CoYOPted Tntstee be for a fenn of four years and by a ttsolution passed at a properly convened meetiTr8 of the charity trust¢es. Each appointment of aNorninad Tnee be for a tern? of ihrtt years. The Ex]c]0 Trustee shall autornatically be a charity trustee. for as long as he or she holds that office. New Truste¢$ ar¢ re¢ruit¢d following the resIretireMen1 or removal of existin8 Tnthes. The Tru51ees meei at r¢gul&r int¢rva]s through) the year and make decisions rE8ardin8 donation& inv¢slment policy, stydlegic decision& and expenditttres on arty of the ChuklY$ prijperties. The Trustees review the m4ior risks at Yegulw inierrtl$ aftd hve appropriate systems and procedures to manage these risks. Induetlon And trnlning of ntw trnstees New Trustees are tniroduced to ihe cornmittee and 8re versd in their r¢spon$ibiliti¢s to the Chjrity by the Clerk. All trusiees Bive their time voluntsrily aJbJ rKeive no benefits from the elwity. Any expenses reelaimed from the charity are sei out in the notes to the finwKial st#ments. Key m8ilAgemen¢ reMtrAOn The Charity employ$ i Clerk on a full-iime basi& A Pasioral Care officer is empkjyed on a self4mployed b¥is to support residents and tenants. No Employe¢ r¢ceived ¢otsl ernployinent berfits of £60.000 or more in the financi0] period. All enhonced DBS certificates have been obtsind. Iusk m2nagemeTrt The trustees h&Ye a duty to identify and review the risks thich the eharity is eXed and to ensure #ppropriate conirols Ire in place ¢0 prowde reAsott8ble 88$ur 488ih&t hud error. REFERENCE AND ADMINISTRATIVE DETAII Regl$¢ertd Charfty numbtr 1194243 Prlnelp#l Addre# Stroma Broch 52 Meetin8 House Lane Ba15all Comrnn Coventry CV7 7FX Pag¢ 7
BERKSWELL CHAIU REPORT OF THE TRusfEFS YEA ENDED 31 MARCH 211 Trustees Rev M Q Bratton Mrs J Edwards C Powell MTS P Charlton-sheppard (resi4119.52o22) B Connor Mrs T McAlamney (res1W 23.6.2022) A Yates P Smith D Bell Mr5 G J Dye (apw)inted 13.6.2022) N V Childs lapw>inted 13.6.2022) AdIto Armstrongs AKount8n¢y L Chartered Accountants and statUry AudIr 1&2 Mercia Villose ToTwood Close Westwood BSIneSS Park Cov¢niry West Mid14nds CV4 8HX Sollcito Rotherham & Co. 8 & 9 The Quadrant Coveniry CVI 2EG Investment Advls¢ CCLA Investsnent Mana8em¢nt Sena¢or House 83 Queen Viaoria Street London EC4V 3ET STATF,MENT OF TRUSTELS. RESPONSIBILrriES Thc trustees ire Tesw)nsibl¢ for preparing the R¢p)fi of the Trustees and the financial stthments in aceordan¢e with applicable law and United KinRdorn Accounting Sfandkrds (United KinBdtsrn Cet)¢rntly A¢¢¢pt¢d A¢¢ourrtins Prn¢ii¢¢l. Th¢ law applicable to charities in En8laThJ and Wale& the Ch8rities Act 2011. Charity (Accounts and Reports) Re8ulations 2008 and the provisions of the trust deed Jrquires the tru5t¢es to prepore financial stY41ements for each finatKial year which give 8 true and fair view of the $tstc of affairs of the charity and of the i]ng restsurces and &pplication of resources. in¢ludin8 the income and eyThJilur4 of the ¢harity for that period. In preparing those financi81 stst¢ments, the Inlee$ are required to select suitsble Aecounting policies and then apply them consistentty. observe ihe methods and prinriples in the Chartty SORP: make judgements and eiMat¢S tha¢ arc rewnable atMI prudent. prepare the financial statements on the goin8 con¢¢m b&sis wile&% it IS Inappropriate lo presume thai the chlty will Gontiny¢ in blneSS. The tru$t¢es are responsible for keeping pn)per 0OUr1ttg records which disclose with reasonable 8c¢uracy at any time the financial position of the charity and to enable them to ensure that the finan¢ial Statements comply WTth the Charitie5 A¢¢ 2011. the Charity (Accounts and ReF*)) Re8ulatiOTLS 2008 and the provish)ns of the trnst deed. They are also responsible for saftguarding the &sscts of the chartty and hence for tsking r¢8sonable steps for the prevention and det¢¢tion of fraud and other irre8ularities.
BERKSWELL CHARrri REPORT OF THE TRUSTEES AREN ED31 MARCH 20 FOR Approved by order of the of trustecs on 18 Seprember 2023 and on its behalf by.. C Powell - Trustee Pa8e 9
T OF THE INDEPEP4DENT AUDITORS TO BERKSWELL CH.4RI HE TRusfEES OF opinll W¢ have audited the fJnanci41 statrrn¢nts of Berkswell at8rities (the'charity) for the year ded 31 March 2023 which comprise the Siatement of Financial A¢tivitie8 the Batan¢e She¢1 atKI nos to the financial ststementy including a swnmary of significant aceoiiniin8 p)licies. 11)e financial reportin8 framework thai has b¢en applied in their preparation ts app]ible law and United Kingdom Accounting StsThJarth (United Kingdom Generally Accepted Aceounting Pr4¢ti¢el. In our opinion the fit)8ncial ststements.. 8ive a true and fair view of the stat¢ of the chariws affairs 45 at 31 Marth 2023 and of its ineoming rewurces ttnd application of resowce& for the year then ended: hav¢ been properly prepared in accordance with United Kin8kn Generally Accepted Aecountill8 Pr4di¢< and have be¢n prepared in accordance with the requirements ofthe Charities Act 2011. B9$18 for oplnlo We conducted our audii in accordance with Internation Standards on Auditing {UK) {ISAs IUKI) and app1]ble law. Our responsibilttie5 under those standard5 are rther describ¢d in the Auditors, SponSibl[lI1¢S for the audii of the financral $taternents section of tsur report. We are ÉndepeTrd¢ni of the charity in accordan¢e with th¢ eihieal requirements that ar¢ relevant to our audit of the financial stat¢ments in the UK, iluding the FRC$ Ethical Sthndard, and w¢ have Ifilled our other ¢thical reskX)nsÈbiliiies in ardance with thes¢ requirements. We beli¢ve that th¢ audil evidence w¢ have obtained is sufflent at)d appTOPriate to prowde a b&sis for our opinion. Conelusions r¢l•ting to golni coneern In auditing the financial statements. we have concluded that the tn. use of the going wncern basis of ac¢ounting in the preparation of the financial stalements is approprigtr. Based on the work we have perfOrnd. have rK)i identified any rnateri unc¢rtaintits r¢laiin8 to events or ¢onditions that. individually or collectively. may cw signÉfi¢ani doubi on the charity's ability kn continue &$ a 80in8 con¢em for A p¢riod of it least twrlve nnthS from when the finoneial sthments authorised for issue. (r responsibilities #nd the responsibilities of the trust¢e5 with respect to 8oin8 eon¢ern are described in ihe relevant sections of this report. Other infrJrmtlon The trusices arc responsible for the other infommtion. The other infonnation comprises the infonnation ineluded in the Annual ReFX)rL other than the financial $ements and ow Report of the Independent Auditors thereon. Our opinion on the financial statements does cover other infonnation and, tx¢¢w to the exteni otherwise explicitiy st4t¢d in otsr report. w¢ do [t exwess any fomi of sranCe conclusion themn. In conne¢tion with our audii of the fina]21 stsiements. our responsibility is to read the other ittforniation and, in doing so. Consider wh¢iher th¢ other infonnaiion ig merially in¢on5isieni with th¢ financi41 statem¢nts or our knowledge obtsined in The audit or othen¥ise PearS to be mat¢ria]ly missthted. If we identify such matcrial incottsisten¢ies or &PP8reni material rnisstaiements, we tre requireAI io detemiine whethtt thi5 give$ rise to a mthrial misstatement in ihe financial Statements themselves. If, based on the Work we hove perfomied. conclude that there is a material mtS51atement of this other inforniation. are required kn report that fa¢t. We have nothin8 to report in this re8ard. Matters on which wt r¢ requlred to report by eAt¢ptio We have nothin8 lo r¢port in respect of the followin8 matters where the Charities IA¢counts and Reports) Regulations 2008 requires us lo report to you if. in our opinion.. the informion given in the Report of the Tntstees is incor]$¢¢¢ in any Materi resw wilh th¢ financial ststements. or suffi¢ient accounting records have not been kept: or the finan¢ial 5tatem¢n15 are Th)t in a8rttmenl with the a¢wunting records and returrLS; or we have rM)t r¢¢eived all the infonnation and ¢xplanations require forow audit. Page 10
REPORT OF TH INDEPEN'DEPU AbT)ITORS BERKSWELL CHARITJES TH usr ESO Respon5ibilltks of trust¢es As explained more fully in th¢ semeM of Tnttt5, ResrA)nsibilities, the tnte5 are responsible for the preparation of th¢ financial statements which and fair vi¢w. and for such rnt¢rnal Conirol &8 the twsiee5 determine is necessary to enable the preparation of filnCial statemerts that are free frDm material misstmenL whether due to fraud or e]TOr. In pwaring ihe financial Statemen the trustees are T¢SlL$jbIe for assessing the charity's abilrty to ¢orttinue as a going concern, disclosing. applicable. matters reled going concern aThJ using the going concern blsis of accoLtniing uttl¢ss the trustees either intend to liquida the charity or to c¢ 010ns, or have no realistic alternative but to do Our respon$lblllties for the gudh of tht finmtial ststtments We have been appoinied auditors under Section 144 of the Charities ALM 2011 and report in accordance with the Act and rel¢vani regulation$ made or having effert thereunder. Our objeciives are to obtsit) reawnablc assuraTKe abo whether finan¢ial stateme1 as • whole arc free from material misstst¢ment. whether due io fraud or error. and issue a Report of the Independent Auditors that includes oui opinion. Reasonable atsurance is a high l¢vel of wuranc¢, but is not a guarantee that gn audit e¢)nducted in aeeordance with ISAS (UK) will always dete tt material misstatement when it exists. Misstaiemetbts Can arise from fraud or error and are considered mat¢rial if. individually or in the 88gregat¢. they could reasorwbly be ¢xpe¢ted to influence the e¢onomic de¢isions of users taken on the b8Si5 of ihex financial starrnts. Th¢ £ent io which our procedures are •le of dettcting irre8ularrties. including fraud is detailed below.. Bwd on our understanding of the Company and industy. we idenirfied thai the prirKipal risks of non.eomplionce with laws and regulations r¢lated kn ihe indury. 2nd considered ihe ¢xteni io ]Ch Th)n compliance might have material effect on the finanei41 sthiemenis. W¢ s0 constdered those laws and regulations thai have a direct impact on the finaneial staiemenis Such as the Compat)ie5 A¢1 2006. We eValued managemeni's incentives and opportunities for fraudulent manipulation of the financi41 ststements {in¢ludin8 the risk of overrhle of ¢O#trolsl and d¢iemiined thai the principal risk$ were relat¢d io rK)siing LEnu$wl joumal eniries to incre4x revenue and pN)fits The monipulation of aceountin8 ¢$timates which could be subjeffl to mona8em¢ni bias. Audit procedures perforn?ed by rhe engagement team included.. . Enquiry wilh managerneni, Ih05e char8ed with governa¢ around aLmof aThl Txitential liti8aiion and Claims; - Enquiry of entity sthff io identify any instsnce5 of non-complian¢e wth la and gUlations. Reviewing finaneial statement dis¢losure$ and testin8 lo SUPrtItI£ do¢um¢nthiion to assess compliance wth applichble laws and rc8ulations' Perfomiing audit work over the risk of m#nagemeTrt override of control& including testing ofjoumal entries and other adjusiments for appropriateness, evaluaiin8 the business rntione of significani transa¢tion5 outside the nomal mursc of businc55 and reviewnK a¢countinR estimates for bi&s' Performing audit work over the risk of under#at¢rixnt of Ver iTKludin8 anatytical review and obtainin8 corroboroted explanions from managetn¢nL There arc inh¢rerkt limitations in the audit predUreS described aEov¢. We art less likely to be¢orne aware of instance5 of non-compli2nce wilh lows and regulations that are not closely laItd events and transaclions refl¢¢ted in the financtal siatements. Also. the risk of not detectin8 8 material misstatement due to fraud is higher than the risk of not dcte¢tin8 one resulting from em)r, as fiaud may involve delibernte 0)nceMe by, for example. forgery or Intelonal misrepr¢s¢ntation& or through collusion. A further dexription of our responsibilities for the awjit of the financial 5tstwneftts is located on the Financial Reporting Council's websiie at wvw.fr¢.or8.uklauditorsresponsibilities. This d¢s¢ription fornis part of our Report of ihe Independent Auditors. Poge 11
REPORT E INDEPEP'DEYf A BF.RKSWELL C DITORS T THE TRusfEE OF Use of our report This rew)rt is made solely to the charity's tn&ees. &s a Edy. in a¢cordance wth Part 4 of th¢ Chartties (Axounts and Rep)rt5) Regulation5 2008. Our audit work has Fen undertaken so we might slate to the Charity's trwstees th(YJ¢ matter5 w¢ are required io state to them in an aUdirS, rek¥)rt and for no o law. we do noi l or assum our audi for ih ity lo anyone other ih r purFx)se. To the fullest extent pemiitted by opinions charity and the charitys Swice5 as a body, for Armstro ceounian¢y Ltd Ch d Accountsnts and Stattrtory Audj 1&2 Mercia Village Torwo(Ml C105e Wastwood Business P Coventry West MidlAnds CV4 8HX Date.. Page 12
BERK WELL C TIES TATE,MENT OF FINANCIAL A FOR THE YEAR ENDED 31 ITIES RCH2 2023 Total funds 2022 Total funds as re5tat¢d Unrestricted fijnds Restricted funds Endowment nd Notes INCOME AND ENDOWMENTS FROM Don81ions and legacies 8.656 8,656 Other trading RCtÉvities Investment income Other income 187.747 115.783 187.747 115,783 103,799 66,446 150 Total 317,041 8,656 325,697 170,395 EXPENDITURE ON Raisi fvnds 37,707 37,707 20,549 ChArlt#bl¢ actlvltles Gr2nts made to institutions Cjrants mède lo individuals Provision of almghouses 24,406 11,704 76.420 24,406 20,575 76,420 17,026 22,82S 71,722 8.871 Other 107,351 107,331 36,869 Total 257.588 8,871 266,459 168,991 Net gairtsll1035esl on investments 691,313 1181.4481 509,865 1161,7891 NEI. INCOMEI(EXPENDITURE) 750.766 1215} (181.4481 569,103 (160,385) RECONCILIATION OF FIINDS Totol fund5 brought forwjrd 5,570,724 129,506 3,639,247 9,339.477 9,499,862 TOTAL FUNDS CARRIED FORWARD 6,321,490 129.291 3,457,799 9.908,580 9,339,477 The notes forn) part of these financial statements Pa8e 13
BE WELL C ITIES BALANCE SHEET MARCH 2 23 2023 Totsl funds 2022 Total funds as rest#t¢d Unrestrieted fi]nds Restricted nds Endowment furtd Notes FIXED ASSETS Tangibl¢ assets Investrnents Investm¢nis Inv¢stment property 1.490,258 1,490.258 1,515,279 790,721 3,937.654 3,457.799 4,248.520 3.937.654 4.334.154 3.226,155 10 6.218,633 3,457,799 9,676.432 9,075.588 CURRF.NT A&SETS Debtors C4sh in hand 32,148 82,174 32,148 211.465 31,201 237,705 129,291 114,322 129,291 243,613 268,906 CREDITORS Amounts falling due within one year 12 (11.465) (11,4651 15,0171 NET CURRENT ASSETS 102,857 129,291 232,148 263,889 TOTAL ASSETS LESS CURRKNT LIABILITIES 6,321,490 129.291 3,457,799 9,908.380 9,339,477 NET ASSETS 6,321,490 129.291 3,457,799 9,908,580 9.339,477 FUNDS Unrestricted funds Restricied fund5 Endowment fijnds 6,321,490 129,291 3,457,799 5,570.724 129.506 3,639,247 TOTAL FUNDS 9.908,580 9.339.477 The financial stat¢ments were approved by the Board of Trustees and authorised for issue on 18 September 2023 8nd w¢re STgned on its bchaifby.. C Powell- Trustce The notes fonn part of these fInancial statements Page 14
BERKSWELL NOTES TO THE Fif4ANCIAL FOR THE YEAR ENDED31 M TEME 20 ACCOUNTING POLICIES Ba$is of prep#rinz the fin8n¢il st•ttments Berkswell Chariiies is a Charitabl¢ IncorTM)Ned Or8anisation. In the eveni of the charity being wound up, the liability in respect of the 8uaraiitee is limited to £1 per member of the Charity. The address of the registered Olf is given in thc charity infornjation on page 3 of these financial stattmenis. The nature of the chariws operations and principal activities are the provision of 8lm5house aecomTrh)dation and fjnancial assisrance for the residents of the parish of Berkswell and the surroundin8 areas. tO8¢ther with the provision and maintetwice of a site for a S¢11. The financi Sthments are pr¢serntd in sterlrng which is th¢ fiMKtional enCY of the chsrtty and rounded to the ncarest £. The significant #c¢ountins rK)li¢ies applied in the preparatN)n of these financial 5ts1ements ar¢ set out below. These policies have be¢n ¢onsi5tently applied all years prtsented unless otheti¥i$e sed. The charity eknnstitutes a public ben¢fii entity as defined by FRS 102. The fin8nci841 ststem¢nts have been prepared in accordance with Aecouniing and Reporttng by Charili¢s.' S¢Atem¢nt of Recommended Practice appli¢abl¢ to ¢hariti¢s pjrptiring their a¢Unts in accordance with the Financial R¢poning Standard appli¢8ble in the UK and R¢public of Ireland issued in Ooober 2019, the F]nwi Reporting StsrKigrd applicable in the Uniied Kingdom and Republi¢ of Ireland {FRS 102}, the Charities Act 2011. and UK Generally Accepted Accounting PrdCti¢¢. Income All incoming resources are included in th¢ Siatemenl of Fin8nctal Activities {SoFA) wh¢n the eharity is legally et)titled 10 The income after any perftsnnar condt¢ions have ixen meL the anb)uni ean be measured reliably and il is probable thai the iOrne wtll b¢ reIved. For donation5 to be reco8nised Ihe charity will have been nlfIed of the amounts and ihe setilement dale in wrSiin8. If there 4re ¢ondition$ attached io the donation and this requitts a level of perfomiance b¢fore ¢n¢iilement can be obtained ihen income is deferred until ilh)se Conditions Are fully met or the fvifilrnent of those conditions is whthin the control of iht chartty and it is prnbable thai they will be fulfilled. Income other trading activities include$ rcrtsj and other property incorne and is recognised the charity is entitled to the monies. Investment income is earned through holding assets for investm¢ni purp05e5 such a$ shares. It includes dividends and interest. WheTt it is not pr8¢ticabl¢ io identify investhjenl management ¢OSts incurra within a scheme with r¢asonable accuracy the investmenl ikKome is r¢FA)rted nei of these cogts. It l5 includ¢d when th¢ amoutsi can be me&5urcd r¢liably. Inieresi incom¢ is recognised usin8 ihe effective interest method and dividend and rertt incorne is rcco8nised as the charity's right to rec¢ive paymenl is establish¢d. Expendlturr All expenditure is accounied for on an accrual$ basts arKI has been clwified under hdings that awegate all Costs related to th¢ tegory. Expenditure is recognised where there is a le8aJ or constructive obli8ation to makc paymen15 to third parties. it is probable that the settlement will be required and the anK)unt of the obligation can be rne&sUd reliably. li is categorised under the following headin8S'. - C.05t5 of rai$in8 funds in¢ludes costs rtlating to18ThJ and inVestmt pioperties from which the charity derives income. Expenditure on charitsble activities include5 Costs rtlaiing th¢ almshouses that are provided to resid¢nts grants payable to individuals ar¥1 institutions- and - Oiher expendiwrt rcpresents those iiem5 not falling into the ¢a*gories above. Irrecoverablc VAT is ¢har8ed as an expense agaiThst the activity for which exrEndiwre aros¢. Page 15 cotttinued...
BERKSWELL CHARrri TO THE FINANCIAL sfATEMEN - eont OR T YEAR ENDED I MARCH 20 ACCOUNTING POLICIES- eon¢iTrMed Expendtture Suprx)rt costs are those that gIst the WO of the charity but do not directly represent charitable activities and include offiee costs. governance oxts. administrative Y[0]I costs. They are itjcurred direetly in support of exp¢nditur¢ on ihe objects of the rharity. Where support costs cannot be directly attribut¢d to particular headings they hav¢ been allocated to cost of raising fvnd$ atMI expenditure on charitable activities on a basis ¢on$isient with use of the resources. Grhnts payabl¢ lo third parties are within the dthritable objertives. Where unconditional grants aT¢ offered. this is accrued as soon as the r¢¢ipient is rb)lified of the 8rani. as this gives rise io a reasonable expectation that the recipieni will receive the grnnts. Where grants are Condition relating to perforniance then the wt is only crued when any unthlfilled ¢ondttions aye outside of the Control of the charity Txnglbk fixed #vts Tangible fixed assets are stated cost lor deemed costl or valuation les5 ac¢umui&ted d¢prcciation and aceumulated impainn¢ni10$5¢5. CO includes eoms dsrectly attributable making the &s¢t whble of operating as intend¢d. Depreciation is pmvided on ail tsn8ible fvAed assew at rates eai¢ulated tg write off the cost, less estimated residual value, of each assd on a systrmati¢ basis over its expe¢d tfi)I life follows.. - Frtthold property 2% on cosl Fixtures and fiiiings 25% on cost Investmwt pr•p¢rty Investment property 15 shown al rn0 recent vaiuation. Any a8gregaie 5wplu$ or deficit 8ri$in8 from ch8¢$ in f4ir value is reco8nis¢d in the SeMent of Finkn¢ial A]VIties. Th¢ Chariry holds iiile to th¢ Church of England khool ¥1 Berkswrll. This wd$ appropriated by the local authority under the Edueation Act 1947 and ihe local authority use$ li withoui any rent being paid to the Charity. The property was last valued in 2019 but. ahhou8h the Chttrity owns titl¢ the property the tcal huthority h&$ PertUal use of the property I111 such 8 lime as the school might close. The Tryllees believe that there is little likelihood of the school closing in ihe fore5¢eable future and the asset 15 therefore exirernely unlikely kn be capable of realisation. In the C1m$nc¢S the Trustees consider Tl Eppropriate to knowledge this and have included the sclwl at & nominal valu¢ of £1. Tax*tlon Thc charity i$ exernpt from thx on its chorttable arfivitié#. Fund a¢tounting Unr¢siricted funds are available for use th¢ discrdion of the trustees in fitrtheraTKe of the seneral objectives of th¢ charity ond whi¢h have not been desigled for other purposes. Designatcd funds comprise unrestricted fvnds that have been set aside by the trustees for particular PUTposes. The airn and use of each d¢signated nd is set rn the Th)ies to the financial sthiements. Restricted funds we funds which are to be in accordance with specific r¢stri¢titin5 imposed by donors or whtch have been Taised by the chariiy for particular purFoses. Th¢ wst of raising and adminrsfering such fund5 are char8¢d against the specific fund. The aim and use of ¢a¢h rtstric fund i$ set out in the note5 to ihe financial statements. EndoNwient futM4s represent assets which be held pernjanently by thc charity, principally investments. Income arising on the endowTnent funds can be used in accordance wryth the object5 of the charity and is included as unrestricted income. Any capithl gaÈn5 or losses arising ihe investments foTrn part of the fund. ITWCSth?¢nt management charges aTKI legaj advice Y¢latrn8 to the fiEnd are Charged against the fund. Further explanation of the nature and purrA)5e of exh fund is incled in the Dotes to the fIn¢1a[ statements. Page 16 continued...
RKSW CHA NOTES TO THE FINAliCIAL TEMEs- Conti¥j FOR THE YEAR ENDED 31 RCH ACCOUNfiNG POLICIES- eontinwd Pett$ion tosts and other post-rttiremtnt beDefJ The charity operates a defin¢d contribution pension s¢1Me. Contribulions poyabl¢ w the charity's pension scheme are Charged to the Statement of Financial Activities in the period to whi¢h they relate. Going comte The financial siatemcnts have been prepared on a goin8 ¢xJn¢em bg5i5 as the trlee$ believe that Th) material ncertainiits exist. The tru5ttts have considered the l¢vel of funds held and ihe expected level of incom¢ and eXpendire for 12 nK)nths from tuthorising these fjnancial stsiements. The budgeted income and expenditure is suffi¢ient wtth the lev¢1 of reserves for the charity be able to continue as # going ncern. OTHER TRADING AcrIv1s 2023 2022 as r¢ststed Farni and land rents Cotta8¢ rents Sundry right5 wayleav¢ Almshous¢ renis Cob)tributions for he¥ting and el¢¢tri¢ty 10.638 80.298 163 89.337 7.311 11,775 40,985 47,374 3.504 187.747 103,799 INVESTMENT INCOME 2023 2022 as restited Othei fixed assd inv- UnFII Dew)sit uftt interest Ch4riiy deposit fvnd interest 113.663 66.397 2,113 49 115.783 66,446 RAISING FUNDS Investmtnt mnA¥m*ht <ts 2023 2022 as rtststed Fami. land and cotta8¢s- repair4 in5yrarKe ete. 37.707 20.549 Page 17 coniinued...
RKSWELL CHARM No THEF NANCIAL STATEMEN EYE ENDED31 MAR - conti FOR H20 TRusfEES' REMUNERATION AND BENEFrrs The trustees did Tt recetve any remuneration or other benefits for thc year cnd¢d 3 1st March 2023. nor for th¢ year ended 3 1st march 2022. Trustees. txpeJw8 TNstees expenses pwd for th¢ year et)dtd 3 1st Mar¢h 2023 £109.79 and w45 nil in the year ¢nded 31st March 2022. COMPARATIVES FOR THE sfATEMENfoF FINANCIAL ACTIVITIES Unrestricted Restrict¢d fvnds fvnd$ EThJowment nd Total nds &* restated INCOME AND ENDOWME]YTS FROM Other trading hctivities Invesimeni income Other income 103,799 66,446 150 103,799 66.446 150 Total 170J95 170,395 EXPENDITURE ON Raisin8 fimds 20,549 20.349 Char5tMbJe aetlvlti Grants made k) institutions Oranis made to individuals Provision of almshouses 17,026 4232 71,722 17.026 22,825 71.722 18.593 36,869 36,869 Tot•1 150J98 18.593 168,991 Net gainslllosses) on investments {17.985) 1143,8041 (161,7891 NET INCOMEI(EXPENDITIIRE) 2,012 {18,593) (143,8041 {160,3851 RECONCILIATJON OF FUNDS Total funds brought foriY4rd 5,568.712 148.099 3,783.051 9,499,862 TOTAL FUNDS CARRIED FORWARD 5.570.724 129J06 3,639,247 9J39,477 Page 18 ¢ontinued...
BERKSWELL CHARI TO THE FIYANCIAL sfATEMEK15- con THE EAR Ef4DED 31 ARCH 20 PRIOR YEAR ADJUSTMENr The eornpardtiv¢$ have been restated to account for a COTre£tion in restrtt of the HS2 restrict¢d fund. The balance on this fund was as a contingent liability in Credi[5 in the prevKJus year's aUnts th¢reas the balance should have been sljown &$ a re5tri¢d [mI. Expenditure from this fiu¥J T5 Nyw SIK &$ a comp8f3tive in the SOFA. The balance on thts fund was £148.099 on 31st March 2022 8j exk*Thlitw¢ in the riod to 31st March 2022 was £1 8,593. TANGIBLE FIXEDAET5 FiXr¢S arwj fittings Freelb)Id Totals COSF Ai l April 2022 31 March 2023 1,761000 1.760 1.763,760 DEPRECIATION Ai l April 2022 Ch4rBe foryear 247.600 24,760 881 261 248,481 25.021 Ai 31 Mar¢h 2023 272J60 1.142 273,502 NET BOOK VALUE Ai 31 March 2023 1.489.640 618 1.490,258 At 31 Mhrch 2022 1.514,400 879 1,515.279 FIXED ASSET INVESTMENTS Unlisted investmenis MARKET VALUE Ai l April 2022 Additions Disposals R¢valu&tLon5 4,334,154 136,000 (20,000) 1201.634) At 31 March 2023 4.248,520 NET BOOK VALUE At 31 March 2023 4248,520 At 31 March 2022 4.334.154 There were tm) investsnent assets Outside the UK. Pag¢ 19
BERKSWE L CHARI TES TO THE TrILYANCIAL sfATEMEN FOR THE YEAR ENDED 31 MARCH I tinu FIXED ASSET INVLSTMEN75- eontiDued CO or valuation at 31 March 2023 is repres¢nted by.. Unlisted investmenis Valuation in 2022 valuati( in 2023 Cost 1161,789) 1201,634) 4,611.943 4.248,520 Fixed asset investments eornprise units held in the Clwiiies offici Investment Fund. Assets are held under the charities. v8rious ffijnds. INVESTMENT PROPERTY FAIR VALUE At l April 2022 Revaluation 3,226,155 711.499 Ai 31 March 2023 3.937,654 NET BOOK VALUE At 31 Mah 2023 3,937.654 At 31 Marth 2022 3.226,155 Inv¢5th1ent property ¢ompris¢$ residential rn. comw*rciai prop¢rty and parcels of lan includin8 fam land. Fair value at 31 Mw¢h 2023 is repres¢nted by: Valuation in 2023 Cost 711,499 3,226,155 3,937.654 The residential and commercial investment proF¢rties previousty vU¢d by G¢xlfrey P&yton, Chartered Surveyors at their market value on 31sr December 2018. The land at Meriden. at Rough Close and at Burton Green wrr¢ all revalued on 3rd July 2019 by Godfrey-PAo. Chartered Surveyois. Orove Cottage was revajued on 29th June 2022 by Barlow Asso¢iatcs Ltd. Tht Cotta8¢ and Stocks Vi¢w Cottage were revalued on 14th July 2022, also by Barlow Associates Lid. Page 20 continued...
BE LL RITI OTES TO THE FINAN 1.4L sr R THE YEAR E DED EMEN - ClbDtiuued 023 DEFfoRS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2023 2022 as restated Trade (kbtor5 Pr¢payments 29237 2.911 31,201 32,148 31.201 12. CREDITORS: Amou FALLINC DUE WITHIN ONE YEAR 2023 2022 as restat Tr¢ creditors Other er¢ditors 1,820 9.645 5.017 11,465 5,017 13. MOVEMENT IN FUNDS N¢t movement in fimds Transfer5 betMten nd5 At 31.3.23 Al 1.4.22 Unrestrleled fuTrdg General Fur School Extraordinary Repair FurKI Almshouse erner8en repair and ey¢lical maintenan¢c fund Residential and commercial woperties exirdordinary rewr fund Alm$hou5e Project Fund 5,155.225 111,667 765,144 (2.976} 1144.1231 5.776,246 108.691 82.428 {1.6501 80.778 85.752 135.652 84.035 271.740 18.0351 144,123 5,570,724 Restrieted fvnds HS2 Fund Wor Mernorial Restoration Fund 750.766 6,321,490 129,506 18.8711 8,656 120.635 8.656 129506 Endowmtnt funds School. Church and Poor tth15 Endowment Fund {215) 129,291 3.639.247 (181,448) 3,457,799 TOTAL FUNDS 9.339.477 569,103 9.908.580 Pag¢ 21 ontinued...
BE WEL CHARITIES NOTE TOTHEF NAN LSTA FOR THE YEAR END 31 MEN - contln CH2 23 13. MOVEMENT IN FUNDS- continued Net mov¢ment in funds, included in the above are &8 follows.. Incomin8 resour¢e5 Resources expended Gains ond losses Mov¢ment in fund5 Unrestricted fThd5 General Pund School Extraordinary Repair Fund Almshouse emergency repair and ¢yclical maintenance fund Residential and commercial properties extraordinary repair fund Almshouse Project Fund 317,041 (249.465) 697,568 (2,976) 765.144 12,9761 {1.650} 11,650) 11.717) 18,035) {8,1231 88 317,041 R¢$lrlcted fund8 HS2 Fund War Memorial Restoration Fund {257,588} 691,313 750,766 18,8711 18.8711 8,656 ,656 8,656 Endowrnent fund5 School, Church and Poor Lands Endowryhent Fund 18.871} 12151 1181,4481 1181,448) TOTAL FUNDS 325,697 1266,4591 509,865 569,103 ComparAtlYe$ for movern¢nt In fundi Nei movement in fijnds Transfers between nds At 31.3.22 At 1.4.21 UnrestTltted funds Oeneral Fund S¢hool Ex¢raordinary Repair Fund Almshouse ¢mergency repair and cy¢li¢al mAintenanc¢ fund Resid¢ntial and commercial propertie$ extraordinary repair fund Almshouse Project Fund S,241.923 137,688 9,802 13,0211 1121.0001 3,130,725 134,667 83,910 11,4821 82.428 87,294 17,897 11,5421 11.745) 85,752 137,252 121,000 5.568,712 Restrleted funds HS2 Fund 2,012 5,570,724 148,099 {18,593) 129.506 Endowment funds SchiK)I, Church and Poor Lands Endowment Fund 3,783.051 {143,804) 3,639.247 T(yfAL FUNDS 9.499,862 1160,385) 9,339,477 Page 22 continued...
NO TO THE FI YE ANCIAL KfATEMENrs. ENDED31 ARCH tln 13. MOVEMEIYT IN FUNDS- tontiTrutd G)mpar4tive net IlKJvcmeni in fimds, incl in the alx>ve 8re follow5.' Jncomtng Movemertt in funds expeThl losses Unr¢J¢rieted funds General Fund School Extraordinary Repair Futhj Almshouse emergen repair and ClIeI maintenance fitnd Residential and commerc141 propertK exiraordinary repair fund Alm$hou5e Project Fut)d 170395 (150J98) {10,195) 13.021) 9,802 13.0211 (1,4821 {1,4821 {1.542) (1.745) 11.542} {1,7451 Re$trict¢d lunds HS2 Fund 170.395 (150J981 (17.9851 2,012 118.S93} 118,5931 Endowment funds School, Church and Poor tands Endowlneni Fund 1143,8041 {143.804) TOTAL FUNDS 170,395 (168.9911 (161.7891 {160,3851 Tr*nsferg between fudS Tr&n5f¢rs io the Almshouse Projeci Fund represem funds transferred from the Genero1 Fund to buy inv¢5tments and to pay expenses relating to Almshoyge Projrx¢. RELATED PARTY DISCLOSURES 14. There were related torty tr8nsKtions for the yeu ermkd 31 Mh 2023. RESTRICTED FUNDS 15. The ch#rity has twr) restricted fvnd5. the HS2 Fund #nd the War Memtirial Restoration Fund. The HS2 fund created to account for th¢ funding trceived from the HS2 company to provide rtspite to residents and repai to ihe charity's propenies havc been affected by the buildin8 of Ihc HS2 railwdy line, whi¢h passes very c105e th¢ MShOu$¢ properties. The WAr Memorial Resioration FuThJ was created ts aCcOt for funds raisd for the restoration of the Berkswell WRI Memorial. This project is e bein8 undertaken jointly with B¢trkswcll Parish Council, St. John Baptist Church and Berkswell S¢Kifty. Page 23
BE WE L CHARMES ILED STATEMEIryOF FINAP4CIALA FO THE YE DED31 ARCH 2 2023 2022 8$ re5tai¢d INCOME AND ENDOWMEM3 Dongtions 4Dd legAcies Donations 8.656 Other tradinz a¢dvities Fann and land rents Cona8¢ rents Sundry ri8his and %y1¢aVe Almshouse rents Contributions for heating and ¢ltrIc 10.638 80.298 163 89.337 7Jll 11.775 40.985 161 47,374 3,504 187.747 103,799 Invutment Ineon Other fixed Asset inv- UnFII Deposit account interest Charity d¢p)sit fund tnierest 113.663 66,397 2,113 49 115,783 66.446 Other Income Other incom¢ 150 TolAI IneomiTr8 YerreS 325,697 170,395 EXPENDITURE Investment m4n88ement costs Fann. land and COg¢s- repairs. insurnnce etc. 37.707 20,549 CharA¢Ablt Aetiviti Almshouse rates and waier Almshouse insurance Almshouse heat aThJ light Almshouse repairs Almshouse TV li¢enc¢s Almshouse project l¢gal f¢es Depreciation of tangible fixed assets Granis to institutiOll5 Grants to individuals 1,880 1.257 7,265 33.067 68 ,123 24.760 24,406 20,575 728 3.655 51,910 75 14,443 17.026 22,825 121.401 111,573 Other Depreeiation of tangible fix¢d essets Exceptional item5 261 12,000 236 12261 236 This page does not fom] part ofthe statuwry firl¢la1 ststements Page 24
BE KSWEL DETAILED STATEME OF FIN FOR THE YEAR ENDED 31 MAR ACTIV 2023 2022 as reststed Support costs Bank ¢harge$ 670 189 Inforniation teebnoloLV Sundry expenses 5,802 2.157 Govern*rtt¢ ¢osts Wages Pensions Auditors, Temunerntion lTrsuran¢e Posiage and siationery A¢counian¢y ftt$ Other legal and profession fees 39,810 3.100 23,028 1.839 1,021 664 3.984 34,039 410 3,252 5.758 88.618 34,287 Total resources expended 266.459 168,991 Net Ineome 59238 1,404 This page does not forni part of the statutory fina][ stat¢ments Page 25