AMPTHILL FEOFFEE ESTATE CHARITY REGISTERED CHARITY NUMBER 200188 ACCOUNTS 31ST DECEMBER 2024
AMPTHILL FEOFFEE ESTATE CHARITY ACCOUNTS 31ST DECEMBER 2024 Contents Page Report of the Trustees Statement of Financial Activities Balance Sheet Notes to the Accounts Independent Examiners, Report
Page 1 AMPTHILL FEOFFEE ESTATE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The TThslees present their annual report together with thc accounts for thc year cndcd 31 st December 2024. Thcy are prepared in accordance with the accounting policies set out in note I to thc accounts and comply with thc charity's trust deed, th¢ Charities Act 2011 and Accounting and Reporting by Charities= Statement of Recommended Practice applicable lo charities preparing their accounts Ill accordance with the Financial Reporting Siandard applicable in the UK and Rq)ublic of ITeland {FRSI 02) (effliVe I sl January 2019) . Obj¢etives and activities The original obje¢t of the charity was to put ils income "10 the use and benefit of the honest poor people of Ampihill and Maulden." The sole concern at the present time is the administration of the seven Grade tt listed Feoffe£ Almshouses in Church Square, Ampthill for the benefit of the residents. The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing aim5, objectives and in planning future aclivilies. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. Achievements and performall¢e The Almshouses were again in full occupation, with the exception of number 6 whi¢h was vacant for fourteen weeks. Maintenance work and repair5 have been undertaken, including redecoration and refurbishment. FiDan¢i&l review The illcome for th¢ ycar aTnounled to £28,924 and has been used to fulfil the objects of the charity. The sutylus for the year was £14,442 before revaluation of the properties and investments. The TNstees' valuation of the propcrtiC5 is in line with their insurance value. Reserves pollcy In accordance with guidelines issued by the Charity Commi5sioncrs, the Trustecs have adopted a policy regarding reserves which should ensure that there are adequate funds to enable thc charity to meet all currcnt and known future liabilili¢s. The level of reserves is considered and reviewed at regular intervals by the Trustees.
Page 2 AMPTHILL FEOFFEE ESTATE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 Structure, Governance and Management Governing document The charity was founded by a schcme of the Charity Commission dated 19th November 1920 as amended by a further sclLeme dated 30th July 1971. Appoilllment of Trustees Trnstees are appointed by a resolution of the existing Trustees of the charity passed at a special meeling of whicb notice not less than 21 days has been given. Organisation The names of the Trustees who Seed during the year are set out below. TThstees meetings are held regularly on a six monthly basis. with ad hoc meetings being held as and when necessary. Day to day running of the organisalion is handled by the Secretary to the Trustees, with major items of expenditure being refetTed to thc Trustees. Risk maDagement The Trnstees carry out an annual review of the risks which the charity may face, have established systems and procedures to mitigate any risks identified and minimis¢ any tK)tential impact should any identified risks materialise. Reference and administrative detai15 The Chxrity The charity is a registered charity, number 200188, and a membcr of the National Association of Almsbouses. Correspondence addres5 103 Station Road. Ampthill. Beds, MK45 2RE Trustees Appoillted by ADJpthill Town Countil Mr l Titman (Chairman) Mrs J Jones Mr R Bartle Mrs S Clinch (Resigned May 2024) (Appointed May 2024) (Appointed November 2024) Co-OPt¥tive Trustees Mrs M Wilson Mr A Read Mr l Hamon Watt Mr B Kerr Mr J Watkins Mr R Tebbutt Mr D Bartrarn (Died- March 2024) (Resigned November 2024) (Appointed December 2024) Secretary to Trustees J Seymour Prineipal advisers Bankers Barclays Bank plc Indcpcndent Foxley Kingham Examkners I I l High Street, Bedford. MK40 INJ 260 - 270 Butterfield, Great Marlings. Luton, Beds, LU2 8DL
Page 3 AMPTHILL FEOFFEE ESTATE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 On behalf of the trnstees, Mr l Titman i%+k m(xlck 1015 Dale
Page 4 AMPTHILL FEOFFEE ESTATE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 Unrestriited funds f4ote 2024 202J Income from: Charitable activities.. Contributions from rcsidenis tnvestments Donations 21246 7210 468 28,924 20,922 6.552 Total 27,474 Expenditure on: Charitable activities 14,482 26,837 Net income 14,442 637 Gain on revaluation of fixed a$se¢s Gain on investment #ssets 20.773 6.453 158,360 3,345 Net movement in funds 41.668 162.342 Reconciliation of funds: Balance brought forward at Isl January 2024 1.238,764 1,076,422 BJlan¢¢ ¢8rrAed forward at 31st December 2024 1,280,432 1,238,764
Page 5 AMPTHILL FEOFFEE ESTATE CHARITY BALANCE SHEET- 31ST DECEMBER 2024 Note 2024 2023 FIXED ASSETS Tangible assets Investments 1,059,399 178,143 1,237,542 1,038.626 164,917 1,203,543 CURRENT ASSETS Debiors Cash at bank and in hand 353 43,587 43,940 36,223 36,223 LESS: CURRENT LIABILITIES Credltors: Amounts falling due within on¢ year 1,050 1,002 NET CURRENT ASSETS 42,890 35,221 NET ASSETS 1,280,432 1,238,764 FUNDS UnrtriCted 1,280,432 1,238,764 Approved by the Trustees on .. and Sied on their behalf by. Mr l Titm8n Chairn]an
Page 6 AMPTHILL FEOFFEE ESTATE CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POLICIES (a) Basis of preparatioD The accounts have been prepared under the historical cost convention, with items recognised at cost or trdnsaction value unless olhenvise ststed in ihe relevant note to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Praetice.. Accounting and Reporting by Charilies preparing their a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective I st January 2019) and thc Charities Act 2011. The charity metts the definition of a public benefit entity under FRS 102. The presentation currency of the a¢counts is in Pounds Sterling (£), which is the functional Currency of the charity. (b) Fund xccounting Unrestricted fijnds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are fvnds whi¢h are to be used in accordance with specific restrictions imposed by donors or which have been raised by the ¢harity for particular purposes. The ¢ost of raising and administering such funds are charged against tbe specific fvnd. (c) ltteome recognition Income from property, investments and deposits are accounted for on a receivable basis. (d) ExpeDditure recognition All cxpendilure is a¢counted for on an accnlS basis and has been classificd Under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs illcurred by Ihe charity in the delivery of the activities and services for its bencficiarics. It includes botb costs that can be allocated directly to such activities and those costs of an indirect llaturc llcccssary to support them. All costs are allocated between the expenditure categories of the Statement of Fillallcial Activlties on a basis designed lo reflect the use of the resource. Costs relating to a particular activity are allocated dircctly.
Page 7 AMPTHILL FEOFFEE ESTATE CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POLICIES (¢owtinued) (e) L8nd and buildings The charitgs land and buildings are stated at Trnstees, valuation, based oll the sum insured. Thc original costs of the assets are not available. Gains and lo&qes on revaluation are tsken to the Staiemenl of Financial Activities as they arise. Maintcnance ¢osts have been charged lo the Ststement of Financial Activities. {0 Inve$tment$ Jnvestrnents ar¢ statd at valuation USiDg thc ¢losing quoted market price. Gains and losses on revaluation are taken to the Statement of Financial Activities as they arise. Realtsed gains and losses on investments are equal lo distributions which are retained in the investment. Unrealised gains and losses are calculated as the differ¢n¢¢ b¢tw¢¢n th¢ fair value at the year end and their carrying value. (g) Designated fund The extraordinary repair fund is established to set aside monies for the Purpose of providing for th¢ extrdordinary repair. improvement or renovation of the almshouses. EXPENDITURE Charitable actlvitles 2024 2023 Almsbou5e heating and water Insurance Repairs and maintenance Adtninistration Almsbouse Asso¢iation subscription Legal fees Independent Examination fee 2.346 932 3,383 1,905 343 4,523 1,050 14,482 1,884 965 17.420 1,950 196 3.420 1.002 26,837 Freehold Land 8nd Freehold Land and TANGIBLE FIXED ASSETS BulldiDg$ Building5 Valuation at i st January 2024 Revaluation in th¢ ycar Valuation at 31st December 2024 1,038,626 20,773 1,059,399 880,266 158,360 1,038,626 The property has been valued on 3 1st December 2024 by the Trustees, based the sum insured.
Page 8 AMPTHILL FEOFFEE ESTATE CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 INVESTMENTS M & G Charity Multi Asset Fund Valuation at 1st January 2024 Additions to investment at cost Investment income reinvested Increase in value in the year Valuation at 31$¢ December 2024 164,917 155,277 6,773 6,453 178,143 6,295 3,345 164,917 DEBTORS Prepayments 353 CREDITORS Amounts falling due within one year Accruals 1,050 1,002 Designated Extraordinary Repair FuDd Undesignated Funds Total Funds UNRESTIUCTED FUNDS At I st January 2024 Net movement for the year Transfer At 31st December 2024 1,073,847 41,668 (13,226) 1,102,289 164,917 1,238,764 41.668 13,226 178,143 1,280,432 RELATED PARTY TRANSACTIONS None of the trustees received any remuneration from the charity during the year (2023 - £nil).
Page 9 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AMPTHILL FEOFFEE ESTATE CHARITY I report to the trustees on my examination of the accounts of Ampthill Feoffee Estate Charity for the year ended 31st December 2024. ResDOllsibilittes and basis of report As trustees of Ampihill Feoffee Estate Charity you are responsible for the preparatiorj of the accounts in accordence with thc rcquirements of the Charities Acl 2011 {'the Act,). I report in respect of my examination of thc accounts cal¢d out undcr scction 145 of thc 2011 Act and in carying out my examination I have followed all applicable Directions given by the Charity Commissioll under section 145{5)(b) of the Acl. Independent examiner's stAtement J have ¢ompleted my examination. l eonfirni that no material matters have come to my attention in connection with the examination giving me cause to believe that: (l ) ac¢ounting records were not kept in respect of Ampthill Fcoffee Estate Charity as required by section 130 of the Act,. or (2) the accounts do not accord with those records,. or (3) the a¢counts do not comply with the applicable requirements CODcerning the fonn and content of the accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tTh¢ and fair view, whi¢h is not a matter Considered as part of an independent examination. I have no conc¢rns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper undersianding of the accounts to be reached. Tara Aldwin ACA Foxley Kingham Chartered Accountants 260 - 270 Butterfield Greai Marlings Luton Beds LU2 8DL