2023-03-31-accounts - Municipal Charities

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Trustee of Municipal Charities

1.1 The purpose of this report is to provide the Trustees with the outturn position, and set out the income and expenditure statement, and balance sheet for the period beginning 1[st] April 2022 and ending 31[st] March 2023.

2.1 The financial position statement for the Bedford Municipal Charities, as attached in Appendix A to the report shows a net income of £9,225 for the period from 1[st] April 2022 to 31[st] March 2023.
2.2 The Balance Sheet position, as attached in Appendix B to the report, sets out the level of total available funds at £1,527,702 made up of unrestricted funds that stood at £1,475,357 and NMCT restricted funds at £52,345 as at 31[st] March 2023.

3.1 The income and expenditure statement for the Bedford Municipal Charities sets out the composition of the net income of £9,225 for the 12-month period from 1[st] April 2022 to 31[st] March 2023.
3.2 The actual income for the 12-month period ending 31[st] March 2023 is £42,993 including dividends of £1,327 and interest of £548 from all investments held by the charity.
3.3 The total expenditure for the 12-month period ending 31[st] March 2023 was £33,767 inclusive of the grant awarded to Puttenhoe Residential Care Home. The Municipal Charities overall expenditure decreased slightly year on year by 3% and by 25% against the budgeted spend for 22/23. The decrease on budgeted spend was largely due to less furniture and equipment grants being awarded by Municipal Charities offset by the one off grant award to Puttenhoe and Friends for Life by NMCT.

4.1 The Balance sheet position, as attached in Appendix B to the report, sets out the level of available funds that currently stand at £1,527,702. This is made up of The Municipal Charities unrestricted funds of £1,475,357 and NMCT restricted funds at £52,345. This represents a £44,008 decrease on the level of funds from the previous financial year.
4.2 The movement is predominantly due to an decrease in the value of investments held, offset by the income made in 22/23.

5.1 The current position statement is prepared on an accruals basis that enable the recognition of the income and expenditure in the period to which it relates in line with the CIPFA statement of Recommended Practice. The value of the transactions undertaken by the Charity within the financial period is beneath the threshold to require an audit of its accounts.

Manager (Business Partner) for Financial Control Bedford Borough Council

APPENDIX A

Municipal Charities
Income & Expenditure Statement as at 31.03.23 Income COIF - Dividend CAF Bank Interest incl NMCT Held by BBC Imperial Brands - Dividend Total Income Expenditure Fuel Grants / one off grant Contingency Grants (Furniture & Equipment) Other Expenditure: Almoners Allowance Insurance Bank Charges Administration costs - Payroll Miscellaneous Total Expenditure Net Income(-)/Expenditure(+) Reconciliation of Funds Unrealised gain(-)/loss(+) on Investments Total Funds Brought Forward Invested Funds	Municipal Charities NMCT *Total* *Unrestricted* *Funds* *Restricted* *Funds* *Total* 31-Mar-22 31-Mar-23 31-Mar-23 31-Mar-23 £ £ £ £ -39,962 -40,918 -199 -41,118 -18 -548 0 -548 -1,307 0 -1,327 -1,327
	-41,287	-41,466	-1,526	-42,993
	3,583 26,227	5,235 16,066	7,720 0	12,955 16,066
	*29,810*	*21,301*	*7,720*	*29,021*
	3,180 1,271 146 135 429	2,516 1,271 72 657 230	0 0 0 0 0	2,516 1,271 72 657 230
	5,162	4,746	0	4,746
	34,971	26,047	7,720	33,767
	-6,316	-15,419	6,194	-9,225
	-112,816 -1,452,579	54,529 -1,514,468	-1,296 -57,243	53,233 -1,571,711
Total Funds Carried Forward	-1,571,711	-1,475,358	-52,345	-1,527,703

APPENDIX B

Fixed Assets Investments Investments NMCT - COIF Investment - Norah Mavis Campbell Trust Current Assets Balance at Bank - CAF Gold Municipal Charities NMCT Cash held by BBC COIF Dividend Receivable Imperial Tobacco Dividend Receivable Current Liabilities Creditors *Net Current Assets*	31-Mar-22 £ 1,440,990 28,735 15,139 76,185 0 458 10,204 0 0	31-Mar-23 £ 1,386,461 27,647 17,522 84,064 0 1,804 10,204 0 0
	86,847	96,072

Total Assets	1,571,710	1,527,702
Funds Unrestricted Funds: Profit & Loss account Unrealised gain(-)/loss(+) on Investment	-73,785 -1,440,682	-89,204 -1,386,153
Total Unrestricted Funds	-1,514,467	-1,475,357
Restricted Funds: NMCT - Unrealised gain(-)/loss(+) on all Investments NMCT Grant Reserve Total Restricted Funds	-13,873 -43,370 -57,243	-15,169 -37,176 -52,345
Total available Funds c/fwd	-1,571,710	-1,527,702