REGISTERED CHARITY NUMBER.. 201486 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR SIR THOMAS WHITE% NORTHAMPTON CHARITY
SIR THOMAS WHITE'S NORTHAMPTOM CHARITY colENTs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Report of th• Trust R•port ol the Independ•nt Auditors 6 to 8 Statement of Flnanclal Actlvltles Balance Shegt 10 Not•s to th• Flnanclal Statsmgnts 11 to 19 Detailed Statement of Flnanclal Activiti85 20 to 21
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORT OFTHE TrUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Iruste8s present their report with the fman¢ial slatemenls of the ch8rity for the year entsj 31 December 2023. The trustees have adopted the provislons of Accounting and Reporting by Charities: Sl8tement of Recownm•nded Pr8¢tice applioable lo ¢h8rilies prering their accounts in ¥¢wrdance with the Financial Rep¢rting Standard apPIable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 201g). 08JECTEVES AND AcfiwTIES Oblectlvos and alms In making e(Jcaional Grants to youro men women ¢v8r the age C>f 16 and under th? a9è of 25 years residing in Northampton. Income. £300,000 10 £350,0001oxcluding loan ropaym•nl$l Publlc benefit The Trustees have had regard to the Chatity Cgmmission guillae on publk benefit. As per the ch8rit(es activities alxjve. the Trvstee$ belv&ve the public benefit in the charty's aGtivilies 1$ clear. Grantmaking policy Subj¥cl to the conslraints of the Scheme, th8 Truslees make 9ranls to assist Ihe education of young men and womèn in nead of financial &8Si51ance. In 2011 the Trustees agieed lo make 8 grÈnt to Northampton Unwersity Df 2100,000. forwhich the University recewed match funding from Ihe Govemmenl of £50,0. This has meant that each year a new scholar 1$ nomlnated and retswes £1.$00 per year for a thr year urse. The first student was nominated in 2013, and fUrtr students have been nominated in subsequanl years. In 2023, the Trustees intervlawed nine student5 to bè considered for Ihe Scholarship, flve were award8d schokrshps of £800, three wlll be awardad sCh¥r$hIps of £1.50D per annum During 2023 the Trustees ma(le oui grants of £15,000 to thB University of Northampton and £15.000 to Moullon College The Trustees ¢onlinue to look for other chariti$s that would benefil, and agreed lo make grants to ¥aru$ ch8ritiès among51 other, irncluding Northamplot) Ac¥demy and AEF Soklers Charity Grant Dunno the course of 2023, 11 Tru5t¢es maile grants lotalling £340.300. ACHIEVEMENT AND PERFORMANCE Charitable a¢tl¥ltles The Trustees romain committed to making grants to individuals and org8nis81ions where Ihelr fund$ will make a difference, and 8r8 pleased to have m£de grants tolalling £340,300 throughoLJi the year. Loan Debtors As at 31st December 2023. the balan of the sum due frorn borrowers paying their loans by way of instalmenl$ was £18,200. FINANCIAL REVIEW Financlal posib.on The Diqtribution Meeting was hel¢J in 2023 al Coombe Abbey. and a chequg for £299.408 lan increase of 8*A from 20221 was received from the main Cov¢ntry Charity- Al th8 year end unrestrted reserves t¢tBlled 23,008,735 {2022.' £3,016,094). Loans glvgn In 2023 Thwe were M new loans rnade in 2023. The Injstees are considering removing loans from their obiectwe$ and actlvitie8. Pa9e 1
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 DEceMBER 2023 FINANCIAL REVIEW Investrnent policy and ObJeCte8 The Trustees rety on Iheii financial consuttanls for advice in relation lo th8 38lection of inv8Stments. MHA Caves Weakh continued to be the Trustees, fiarla1 adviyers •nd produced quarterfy statements of inMme 8nd valuations which werè cirevlated to the Tru8lee$ •nd discu88ed at their M1ng9. The investment policy wa$ reviewed in 201 g. 11 was a90 that the Trustees would seek lo achieve capital and income gTOWth wth an emphasis on an overall Tate of retum. Thls was achièved by a quarterty review of the wrtfollo by the fSn3ncLql advBers and the adopllDn of a low lo rnedium risk inve51menl pdiGy. The finanGio1 advisors also attend on¢ mgetlng a yw to review the annual prcgress of the Charity's Inve31ments. At the meeting of the Tru8tee5 held on 16th JLsne 2008 il was agreed that Caves Wealth should b& gNen dis¢r8tion to msnaye th¥ Truslo08' portfolio. Reserves pollcy eserves are invested through the charity'5 Financial cOttals. The Trustees aTh lo maintain these resewe5 in real tem5 in order lo gerate income lo make grants lo beneficiarie8. Loans repaid during the year will be invested In order to increase ILrtur8 income. Resefftts may be drawn down on to rnake new loans *thich are not able to be nEt from current eAsh balances. This pOIY wll be revE%%Ed annually by the Finance sUcOmMitte0. STRUCTURE. GOVERt4AN¢E AND MANAGEMENT Gov•rnlng document The charty is contT¢lled by its governing documen( a deed of Irusl and nStit1¢S an unincorporated ¢h8rity. The Trvstees, with thè consent of the Chafity CommB$h?n, agreed to Chang8 th8 name the charity to'sir Thomas Wnite's North8rnplon Charty" and the Schème of 17 May 2010 rÈfÈrs. Goveming Instrumenl Main S¢heme da1ed 30 July 1915 IndentLbre dated 26 July, 1552 and scheme¢ of the Commissp)n9 daled 21 May 1901, 30 Juty 1915, 20 July 1972, 16 July 2D02. 17 May 2010 and 4 2018. Beneficlal Area - Kkthampton The Trustees, nth the consent ol the Charty Commi33ion, agreed lo amend the lo refer lo "Northampton" ralherth4n Ihe Borough of NorthamplDn" lo widen the ar¢8 of benefit. Special Rès01lOn dated 20th July 2020. Recrultmenl and appointTllent of now trust•e$ Al the meeting of the Trustees held on 201h March 2023 Mr T J Hadland was appointed Ch8im)an and Mr U Gravesande was appnted Dewty Chairman for ihe en$uing year. This wa5 In acccirdance with the 1915 ScheTne of the Northampton Municipal General Charities which had stated that the appointment of the Chairman and Daputy should take pla¢9 91 the first meeting of thè yèaf. Followlng complet of the Special Resolution datèd 20th July 2020 the Trustees agreed that they would appolnl Trustees theMSee8 so that Trustees Wlth the skills needeil by the Charity (sn be apporMed by them rather than Northarnpton 8orough Council Prior lo their first rneeting. Trustees are sent papers whh include 8 hBtory of the charity, r4py Charity Scheme. accounts 8nd various notes and ¢¢py foms that are used by the clèrks. No fom¥l tratning is given. Page 2
SIR THof41AS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Admlnlstrntion of thè Charlty The day lo day administration ol the charity has beèn delegaled to HCR Hewtson8. All financial decisions are agreed by the Trustees at their mg0ling8, and all eheques are signed by Trusl8o5. The charty also makes payments by BACS Iwsfer which are overseen by one trustee al HCR Hewilsons premises. Risk management The trustees have 8 duty lo Identify and review the risks lo the ¢harily 1$ exposed and to ensure appropriele contro15 are in place 1¢ provRl8 rea$onable assurance against fraud and error. As the Ch8rty is a loan malong body. th& Trustèe$ ¢onsider the main aw of rfsk relates to non repaym¢ni of Ihtr loans. Accordingty, the Twstees. in additn to requiring three sureties to guarantee the loan, also require that ea¢h borrower lake out a lrfe endowment policy and assign this to the Tru5t¢e8 a5 addrtion81 securlty ts the repayment ol the loan. The Trustees also identified thai the lack of notiFieAtion of the change 91 address by the rrOWers of himsew and his sureties as 8n additional risk. To lessen the risk they have decided lo send out mall shots peTtJdScalty requiring the confirmation of addresses of all partles by Ihe borrowers. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty number 201486 Prln¢lpal 8ddr•8$ o Mrs Angela Moon, HCR Howitstsns Lancaster H¢Juse Nunn Mills Road Northampton Northamptonshire NN15GE Trnstees T J Hadland U Grovesand8 FHWire W A Howes J NEhtingalo P L Ager (died 2719r241 J K M Bulteel A Simpson {resiyned 11112r23) J March (resigned 111121231 T Wh¢nham M Wilkinson Cllr A King (resigned 111121231 Cllr S Beardsworth CNr D Stone Clr J Lane (re8vJned 11112123} A Perry PaJe 3
SIR THOhlAS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Audltors Shaw Gibbs (Audit) Limited. Statutory Auditor Eagle House 28 Billing R¢)ad Northarnpton Northamptonshire NN1 5AJ Flnanclal Consuftants: MHA Caves Weath LkgateB House Ru$hmills BeclFord Roa Northampton NN4 7YB Clerks to the Trust•g8: HCR Hewitsons Soli¢ors Lancaster House, Nunn Mills Road. N(thampton NN15GE 8ankers: CAF Bank Limiéed 25 Kings FS11 Avenue Kings Hill Wesl Ma51ing Kent ME19 4JQ National INestminster Bank P 41 The Drapery Northampton HM Revenue & Customs Number. X8076 8TATEMEKf OF TRUSTEES. RESPONSIBILITIES The truslees are responsible for preparing the Report of the Trustees and the financial statements in accordance wilh 8pplic8ble Isw 8nd Uni¢ed Kingdom Ac¢ounting Sl8ndar¢Js (United Kingdom Generally Accepted A¢tountin9 pract8). The law applicablè lo Gharrties in England ané Woles, the Charit9 Ad 2011, Charrty IAccounls #nd Reports) Reguialion5 28 and Ihe prowsion8 of the trus1 deed requires the trustees lo prepare finala1 slatements lor each finanGial year whi¢h give a tfue and fair view of the slate of aflairs of the chatity and ol the in¢c¢ning resources and applKalion Of Tesour¢¥¥. including the in¢ome and Èxp8ndilure, of th8 charty for that perDd. In preparing those financial statements. the trlee$ are required to salad suttable accounliw policiB$ and then apply them COnSLteW', obsèrve the mèthods and princip in the Charty SORP.. make judgement5 and estimates that are reasonable and pnjdenl., piepare the finan¢r41 $tatemenls on the going corKern basi$ un5ess il is in8prw.ate lo presume Ihal Ihe harily will continue In business. The trustees 8re responsible for keeping prowr accounting re¢¢rds which disdose with raasonable accuracy at any ts.me the finanaal position of the ¢h*rity and lo enable thern to ensure that the financial ststsrnents comply wrih the Charit$ Act 2011, the Charity (Accounts and Reports> Reoulalions 2008 and the provi510n5 of the ttU51 deed. They are also re5px)nsible for saf9gu8lng the as5et5 of the ch3Erty anrj hence for taking reasonabl& steps for the prevenb.on and deteclion of fraud and other irregvLqrilies. Page 4
SIR THOMAS WHITE'S NORTHAMPTON CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ziliol 2tsL¥ AF*)roved by cfder of the board of Iruslees on................ . 8nd signed on ils behalf by: T J Hadland- Truste8 Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SIR THOMAS WHITE'S NORTHAMPTON CHARITY Opinion We have audited the financial Statements of Sir Thomas Whit8,8 Northampton Charity (the 'charty'l for the year ended 31 December 2023 which cornprise the Statement of Financial Activities, the Balance Sheet and noles lo tre financial statements, including a summary of significant accounting policies. The financial reportin9 framework that has been applied in their preparation is applicable law arid United lfjngdom Accounting Standards (United Kingdom Generally Accepted Acwunling Practice}. In our opinion the financial slalemenls.. give a true and fair view of the state of the charity's affairs as at 31 December 2023 army of ils Sncoming resources and application of resources, for the year then ended., have been properly prepared in accoTdance with United Kingdom Generally A¢pIed Accounting Practirk,. and have been PTepared in accordanGe with the requirements of the Charities Act 2011. Bas1$ for opinlon We conduded our audit in accordance with Inlern81ional StarKlards on Auditing IUK) IISAS (UKI) and applicable law. Our responsibilities under those standards are further descrribed in the Auditors, responsibilith.es for the 8udit of the financial statements section of our report. We aTe independenl ol the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statemènts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to going ¢oncern In auditing the financial ststements, we h8v8 concluded that the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Ba5eiJ on the wort( wè have perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitls ability to continue as a going wncern for a period of al Seast twelve months from when the financial slalemenls are aulhorised issue. Our responsibilities and the responsibilities of the trustees with respect to goin9 Goncem are described in the relevant sections of this report. Other informatlon The trustees are responsible for the other informalion. The other information comprises the information included in the Annu81 Report, other than the financial siatements and our Rewtt of the Independent Auditors thereon. Our opinion on the financial statements does not cc>ver the other infomiation and, except lo the exlenl othetwise expliciuy stsled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financi81 statements. our responsibility is to read the other iriformation an(J, in doing so, eonsider whether the other information Is materially inconsistent with the financial ststements or OUT knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mis51alements, we are required to delemiine whether this gives rise lo a materi81 misstalernent in the financial statements themselves. If, based or) the work we have performed, we Conclude that there is 8 material fflisstatement of this othèr infomiation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are requirgd to repori by ex¢eption Vve have nothing lo report in resPtr¢t of the following matters where the Charities IAccounts and Reports} Regulatior)s 2008 requires us to report to you if, in our opinion-. the information given in the Report of the Trustees is inconsistent in any material respect with the financial 5tstements', or suffi¢i8nt accounting records have not been kepl-, or the financial slalements ale not in agreement with the acc(yJnting records and returns-, or we have not received all the information and explanations we require for our audit. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SIR THOMAS WHITE'S NORTHAMPTON CHARI Responsibilitie$ of trustees As explained more fully in the Statement of TTUStees' Responsibilities, the Iruslees are responsible for I preparation of the financial slalements which give a true and fair view, and for such inlem81 control as the trustees determine is necessary lo enable the preparation of linancial stslements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as 8 going concern. di8closing, as applieable, matters related lo going concern and using the going concern basis ol accounting unless the trustees eilhei intend to liquidate the ¢haTity or to cease operations, or have no realistic allernalive bul lo do so. Our r¢$ponsibilities lor the audit of the flnan¢lal Ststements We have been appointed as auditors under Section 144 of Ihe Charitios Act 2011 and report in accordanc8 with the Act and relevant regulations rnade or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial stslements as a whole are tree from material misslalement. wh&ther due lo fraud or error. and to issu@ a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level ol assurance, bul is not guarantee that an audll conducted in accordance with ISAS IUKI will always detect a material misststement when It exists. Misstatements can arise from fraud or error and are considered material if, individually or In the aggregate, Ihey could reasonably be expocted to influence the economic decisions of users taken on the basis of these financial Statements. The extent lo which our procedures are capable of detecting irregularities, induding fraud is delaileé below.. Because of the inherent limitations of an eudit, there is a risk that we will not detect all irregularltles, Sncludin9 those leading to a material misstalemenl in the financial ststements or non-compliance with regulation. This risk increases the more that compliance with a law (y regulation is removed from the events and transaction$ Teflected in the financi81 statements, as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities 0Urring due lo fraud rather than error, as fraud involves intentional concealment, forgery, Collusion. omi55ion or misrepresenlalion. We considered the opportunities and inntiVeS that may exist wlthln the organisalion for fraud and identified the grèalesl potential for fraud in the following areas.. liming and recognS1ion of investmsnl income. posting 01 any unusual journals along with Gompl8x transactions and manipulating the charitie5' key performance indicators such as giants paid. lo meet targets. We discussed these risks with the finance management and designed audit procedures lo te51 the timing of investment revenue & tested 8 sample of grants paid out to confimi they were appropriate and reviewed areas of judgement for indicators of management bias lo address these risks. A further des¢ription of our regponsibilities for Ihe audit of the financial statemen15 is located on the Financial Reporting Council's website al www.frc.org.ukJauditrJrsresponsibilitEs. This de5uiplion forms part of our Roport of the Independent Auditors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF SIR THOMAS WHITE'S NORTHAMPTON CHARITY Use of our report Thi5 report is made solely lo the charivs trustees, as a body. in aceordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stste lo the charity's trustees those matters we are required to State to them in an auditors. report ar)d for no other purpose. To the lullesl exlenl peTmitted by law, we do not accept or assume respDnsibilily to anyone other than the charity and the charity's trustees as a l)ody, for our alt work. for this report. or for the opinions wè have formed. Shaw Gibbs IAudil} Lirnited. StalLrtory Auditor Eagle House 28 Billing Road Northampton Northamptonshlre NN1 SAJ Date.. 30 October 2024 Page 8
SIR THOMAS WHITE'S NORTHAMPTON CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Unreslricted fund 2022 Total funds INCOME AND ENrYENTs FROM Charltable aGtivMIBs Loans and grants to 1ndW8 and institutions 299,408 275,345 Inv•$tfflenl income 124697 113.370 Total 388715 EXPENDITURE ON Raising fund5 9,S73 9,639 Charitable acti¥ltle$ Loans and grants to indNidual$ and institutions 410.596 376.460 Total 420.169 386.099 N8t gainsl{kn$s¢sl on investments 112951 323,951) NEf INCOMEIIEXPENDrruREI (7,3591 (321,335) RECONCILIATION OF FUNDS Total funds brought loard 3,016,094 3.337.429 TOTAL FLINDS CARRIED FORWARD 3 008 735 3 016 094 The notes form part ofthese financial statements Page 9
SIR THOMAS WHITE'S NORTHAMPTON CHARITY BALANCE SHE 310ECEMBER 2023 2023 Unresliicted lund 2022 Total funds Notes FIXED ASSETS Invesbn8ntS 12 2,705,457 2,695,811 CURRENT ASSETS DebtDrs Cash al bank 13 44,048 280,920 118,568 208,088 324,968 326,6 CREDITORS AWlunt$ f811ing due within one yeaT 14 {21,6901 16,3731 NET CURRENT ASSETS 303 278 32D,283 TOTAL ASSETS LESS CURRENT LIABILITIES 3,008.735 3,016,094 NEf ASSErs 3,C(18,735 3,016,094 FUNDS Unreslrrjed funds 15 3,ODB,735 3 016 094 TOTAL FUNDS 3 008.735 3016094 The fin nci I statèments were approved by the Board of Trustees auth¢sed for issu8 on . and were signed on its behalf by.. T J Hadland - Trustee U Gravetsan Truste The notes form part of these fin8ncial statements Page 10
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Ba$ls of preparing the financlal statoments The financial ststements of the charity, whh is a publ benefrt enlty und8r FRS 1 D2. have been pPared in accordan wth th& Charrties SORP {FRS 102) 'Accounling and Rewrting by Gharrties.. SlaloNnt of RecDmmÈnded Practice ¥Jplicable to charities preparinu their accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Rewbllc of Ireland {FRS 1021 (effective 1 January 2019)., Financial ReportSng Slandaid 102 'The Finanual Reporting Standard appliGable in the UK and Republic of Iteland, and the Charrties Act 2011. The financial slaiern¢nts have been prepared under the histcriEal co¥1 ¢¢nvenlion. wf(h the eXCeptn of investments which are included al market value. as by the revaluation of certaln asset$. The presentstlon curroncy for finCId statements is Pound Sterling 1£). Golng Conurn The finandal statemerrts have bew prepaTed as a golng concem. The Trustees have taken into count a period of 12 months post the approv8E of the fin¥ncial slalemenis date and ¢onfinned thèir assessrnent that the charity 18 a going concern. Slgnfflunt Judg•ment5 & Estimate$ preParatn ol fin8nciaS statèments requires the use of certan e¥rtlcal accounting estimates. It also requires m8n3gement lo exercise its judgement in the process of applyw)g the company accounting pdicEs. The areas involving a higher degrè8 of judgement or complexity. or are88 where assumptions and eslimales am signffiEanl to the financial slalements are disdosed wihin thg indniKlual accounti policies below. Incomo All incomè is reco9nised in the Statement of Finand81 Actrvttles once the charity has enlillemenl lo the funds, 11 ss prc&able that the income wlll be recelved and the amount can be meaSud reliabty. Expendli ure Liabilili&s are recognised as expenditure as soon as there is a legal or ¢onslruciive obligation committing the chaiily to th1 fjxpendiluro, it is prObaè that a If?n5fer of economic bÉnafits will be requirtrd in settlgmenl and the amount of the oblig8lK)n can be me8$ured reliably. Expenditure a¢courtled lor Dn an ac¢mals basis and has been classmied under headings thal 8ggi6gate all cotst rePated to the categDry. Where costs cannot be direGtty altribuled to parti¢ular headings th8y have been aliocaled to tIvitIS on a basis conslslent wlh the u88 of resources. Grants offed subje¢t to condition$ which have nEX been met 8t Ihe year end date arè noted as a commitment but not accruad as expenditu. Taxallon The charity is exempt from tax on its charftable activilie$. Fund accountlng Unrestricled funds eAn be used in ¥crdanCe with the Charitablè Dbl1Ves at the discretiDn of the trust8e& Restrtcted funds can onty be used for parti¢ular reslrided puffjctses within the obje¢ts of the ¢hariiy. RestrIc1nS arise when slf1 by the donor or when funds are ratrd for particular restricted purposes. FSnan¢l&l Snstruments Cash and cash equivalents in thè balance sheet comprise cash at banks and in hand and short leim deFo$ts with an origlnal m8turity date of Ihree months or k5$. Page 11 onlinued.,.
SIR TH0141AS WHITE'S NORTHAMPTON CHAR5TY NOTES TOTHE FINANCIAL STATEMENTS-contlnu¢d FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOLINTING POLICIES - continued Flnonclal Instrum¢nts Debtors and credilors wkh no stated iiterest rate and receivable or p2yable wllhln one year are r•wded at transaction prts. Any10s8es arsiro from bmpaim)enl are recoani$ed in the $t8t¥Ml of financial adivilw. Fin¢181 liabilities and equity instruments are classrfd according to the substance of the conlraclual orrangements entered into. An equity inslrumenl any contrad Ihot evidences a residual interest in the ass8ts of the entity after dÈducling all of its )In8ncA81 liabilrties. Where Ihè contractual obligation$ of financial instrum•nts are equivalent lo 3 similar debt inslDJment. those finsncial ingtrumènls are cl88sed 8s lin8ncial liabifities. Financk81 liabillies 8re prasented as such in ihe balance sheel. Flnance costs and galns or losse5 relating to financial liabilil*s are Includ ITr Ihe 5talemenl of finanGrdl a¢livrtEs. FinarKe costs are calculated so a5 to produce constsnl rate ol return on the outstanding liabilty. Loans The loans are held at presènt value and are receivab as IW fall due for repaYnt. A promsion is made annually for all loans that due repaynknt prkjr lo the CulnI year, as wdl as 1% of a ou151anding current loans. The provisin res>>Jntse(l in the Slalement of Financial Ackivities. INVESTMENT INCOME 2023 2022 DtvKlent1s & interest received DepDsfrt account interest 122.761 1.936 112.939 431 124697 113 37Q INCOME FROM CHARITABLE ACTIVITIES 2023 2022 ActNty Loarts and grants to indlviduals and institutions Loans and grants to indlviduaLs and inslilulions Funds received frtyn Coventry 299,408 275.195 Bk comFensalion 150 299 408 275,345 Page 12 continued...
SIR THOMAS WHITE'S NORThAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 DECEMBER 2023 RAISING FUNDS Investment managemgrt costs 2023 2022 Portfolio managemenl 9,573 CHARITABLE ACTIVITIES COSTS Grant funding of activities {see nole 7} Support cos18 (see note 81 Costs (see nole 6} Totsi$ LD8ns and gronts lo Individuals and institutlon5 52.753 17,543 DIRECT COSTS OF CHARITABLE ACTivmES 223 2022 Clerks charges FCA charge Travel Data PTOtection Net change in provisicn fof108ns unlkely lo be repald 49.600 1.087 140 40 1.688 50.400 1,088 4.673 S2.753 56.429 GRANTS PAYABLE 2023 2022 Lo8n$ and grarbts lo indwiduals aftd instllut*)ns The tota grarts paid lo instilutions during the year was as follo. 2023 2022 Moulkn Colle ABF SoleT$ Charty SpNt 4 Frf(ne6S NorthptOn Academy Grant Unwersrty of Northampt Northampton Scouts Group Universrty of Northamptrm - Scholarship 15,000 1,200 30,DOO 800 2,500 10,000 15.C 5.866 Tho total gT3nts paid lo indlvlduals during thp year was as folkhvs.. 2023 2022 Grants to indNidual$ Page 13 continu•J...
SIR THOMAS WHITE'S NORTHAMPTON CHARrrY NOTES TO THE FINANCIAL STATEhlENTS . continugd FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS Govemonee 0515 Management Finance Totals Loans and grants to inébviduals and institutions 110 543 16,8 Support cost8, induded in the above, are as follows.. 2D23 Loarks and grant$ to INlua1$ and institLrtions 2022 activities Website costs Bank ch8rges Auditors, remun8ralion- 8uditing of accourrt$ ALKlitors' remuneration tr non audit work Clerks charges 110 $43 110 403 5,370 5,122 1.320 10,200 1,250 10080 17.3 TRUSTEES. REMUNERATION AND BENEFITS Theré were no trustees, remuneration or other beneffts for the year ended 3108cemter 2023 rvy for the year ended 31 December 2022. Trustees. expenses During the year no expenses were paid lo Iru519&$, for expen50s paid for M behalf of the charity and then Teimbursed12022.. £Nill. Travel expenses of £nll were paid by the ¢harity on behaff of zero Iruslees lo attend the dislribthion nEeling12022: £Nir). 10. STAFF COSTS There were no employees for the year ended 31 December 2023 nor the year fjed 31 December 2022. Page 14 cenknnued..
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS - ¢ontinued FOR THE YEAR ENDED 31 DECEMBER 2023 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNITIES Unrestricled fund INCOIE AND ENDOWMENVJ FROM Charable ac¢ivlties Loans and grants to iTrJivldua15 ar¥J institulifJ)S 275,345 Investmènt inrthne 113 370 Total EXPENDITURE ON Raising fijnds 9.639 Charitable activlti•s Loans and grants lo individusls and stitutions 376.460 Total Ngt gainslllosses) on investment8 323 951 NET INCOMEIIEXPENDITUREI (321,3351 RECONCIUATION OF FUNDS Totsl ftjnds brought forward 3,337,429 TOTAL FUNDS CARRIED FORWARD 12. FIXED ASSET INVESTMENTS Listed Investsnents MARKET VALUE At 1 Janu8ry 2023 Additions Disposals Revaluations 2,696.811 331,067 <310,126} 11.295 At 31 Decemter 2023 2 705457 NET BOOK VALUE Al 31 Detsmber 2023 2 705 457 At 31 December 2022 2695811 Therewere no investment a$setS ¢Xrt9ide th8 UK. Page 15 ¢tinUed...
SIR THOMAS WHITE% NORThAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 12. FIXED ASSET INVESTMENTS - ¢ontlnu•d Cost or v31ualh)n al 31 D8c8mL*r 2023 is rèpresented by.. Listed inv&stments Veluation in 2023 Cost 132,349 2 573.108 2.705.457 The hi5torKs1 ¢ost of the Investsnent$ at the year end was £2,573,10812022: £2,596,7461. 13. fEBTORS 2023 2022 Amounts falling du8 wrthin ¢)ne year. Loans Provision for ltsans unlikely to be rep8KI 20.702 18,245 {20,702) 12,883 {18,2451 11.054 12,863 11,054 Amounts falling due after more than one year.. Loans Frovision for bans unSikety lo be repaid 31,500 108,eoo 11,0861 Aggreggte amounts 118.568 Page 16 continued...
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANcL STATEMENTS - cotttinued FOR THE YEAR ENDED 31 DECEMBER 2023 13. DEBTORS- contlnuad Loans 2023 2022 Slr Thom•s White'$ Loan Duefor reF4ymenl 2015 and earlier Iproviéed for as doubfful) 2D16 Iprowded for 8s doubtful) 2020 2021 2022 2023 2024 2025 2027 228 2029 4.475 20 185 6,073 6,831 3,117 12.500 2,500 10.000 4.000 4,591 185 8,073 8,531 74,6 1S,000 2,500 10,000 4,000 S2,202 21 0171 126,845 193311 Less: Provision for loans unll(ety lo be repaid 107514 Loans that grè due for repaymgnt in 2023 and eadier are shown in the accounts as du• in les5 than one year and any due after Ihal dalg are shown as more Ihan one year 14. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Aeeruals 15. MOVEMENT IN FUNDS Net mOveEnt in funds At 31112123 At 111123 Unrnstrlcted funds GerEral lund 3,016,094 17.3591 3.008,735 TOTAL FUNDS 3 01e 094 3 008 735 Palle 17 continu&J...
SIR THOMAS WHITE'S NORTHAMPTON CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 1S. MOVEMENT IN FUNDS - ¢ontinu•d Net movement in fvnds. included in the ae are as foll¢>.. lThcorring resourc85 Resou[S ?xpended Gains and sses Movement in lunds Unre5tfid•d fund$ General fund 424,10S 1420.1891 {11,2951 I7.9) TOTAL FLINDS 424,105 420,1691 11.295) 7.359 Comparatlves for movemenl In funds Net movement kn funds At 31112122 At 111r22 Unr•stri¢ted funds General fund 3,337.429 {321,3351 3.016,094 TOTAL FUNDS 3.337 429 321.3351 3.016,094 CompaTative net movement in fund5, included in th& above are as lollows.. Incgming Resources resources exF*nded Gains aTh losses Movement in funds Unr•stTiet8d funds Ganeral fun(1 388.71 S 1386,099) (323,9511 1321,335) TOTAL FUNDS 3B8715 386,0991 323,9511 321.3351 16. GRANT corwlTmEMTs The following grant commilmenls and h8v$ bèen wJreed at th8 year end, bul are coriting8nt on thè projects either beng fully financed andloi fvjll detailed reports bèing receId, prior lo any amtrunls being paid out by the charity. 2023 2022 Moullon College Northamplon Academy 30,000 30,000 10,000 30.DOO 40.000 Pagé18 continued...
SIR THOMAS WHITE'S NORTHAMPTOM CHARITY NOTES TO TriE FINANCIAL STATEMENTS - continuad FOR THE YEAR ENDED 31 DECEMBER 2023 17. RELATED PARTY DISCLOSURES Duriro the ar a grant of £nil12022.. £5W) was gNen to the grand daughter of one of the Trustees M Wilkinson. The granl was awarded under the same terms as 811 other grants in the year and Ihg Trustee was not invdved in Ihe vote to award the gront due lo his cotfflict of inler8sL During th& yaar ABF Soldiers were awarded gants totalllng £1.20012023.. £NII) for which T WThenham r8Be$ funds. TheTr were no further related party Itansaction$ lor the year ended 31 December 2023, nor the year eMl8d 31 December 2022. 18. ULTIMATE cowfROLUNG PARTY The charrty under the contrd of *s trustees as listed within the Iruslees report. Page 19
SIR ThOMAS WHITE'S NORTHAMPTON CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME AMD ENCK)WMENTS Investm•nt income Diiridènds & Intt recewed Deposit account interest 122,761 112,939 431 124,697 113,370 Charitable activitl#s Funds reGeiv¢d from Coventry Bank compengatlon 299,408 275,195 150 299 408 Total IornIng re50Urtes 424,105 388,71S EXPENDITURE Investment management costs Portfolio management 9,573 9,639 Charitable activitles ckrt(s ¢haTges FCA Travel Dola protection Net change in pr¢vYdion for loans unlikety to be repaid Grants to Institulions Grants to indivKluals 49,800 1,087 140 40 50,400 1.088 1.686 45,700 4,673 39,166 263,900 393,053 359,495 Support ¢osts Management Website costs 110 110 Flnance B8nk CheS 543 403 Gov•rnancg costs AulJit$, remuneration- audrting of accounts Auditors, remuneration for non audit work Ckrks GhJig¢s 5,370 1,320 5,122 1.250 16 890 Totsl resources expended 420,169 388 099 Net income before gains and 1055e5 3,936 2,616 Thi$ page does not form part ofthe 51alulory financial statements Page 20
SIR THOMAS WHITE'S NORTHAMPTON CHARITY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OECEMBER 2023 2023 2022 Realised and unrealtsed gains and losses Realk8ed gains1llosI on fL%ed asset inveslments 323 951 Net expfrndituro ,359 321 3351 pagg dces not form part Dfthe statutory financial statements Page 21