2023-12-31-accounts - Richard Hicks

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Trustees’ Annual Report for the period

From 1[st] January 2023 To 31[st] December 2023

Charity name: Richard Hicks

Charity registration number: 202543

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To apply clear income toward repair and maintenance of the Parish Church in Towcester and in maintaining divine service there
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Payments totalling £33,720.00 as follows: £31,793.00 to cover part of the Parish Share paid by the Towcester Parochial Church Council for St Lawrence Church (being 80% of income under the calculation method agreed by the Trustees + an additional one-off payment of £5,000.00). £1,719.00 in respect of 50% of the costs net of VAT of St. Lawrence Church roof repairs and deducted from surplus income in General Account. £208.00 in respect of 50% of the costs net of VAT of a new crypt fan for St. Lawrence Church and deducted from surplus income in General Account. No funds were transferred out of income to the Special Reserve Fund in 2023.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The above payments were deemed by the Trustees to be for public benefit by contributing towards maintenance of the Church and divine service

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The main achievements of the Charity are those identified above and have assisted in maintaining divine service at the Parish Church in Towcester.

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	During the year the Charity received income from its COIF investments of £31,138. The total net assets (including Special Reserve) increased by £73,329 to £1,119,240.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	The Special Reserve Fund is to provide for future maintenance and improvements to the structure and fixtures and fittings of St Lawrence Church Towcester to which the Trustees decide to contribute and which cannot be met from the Charity’s annual income
Amount of reserves held	Para 1.22	Total Net Assets in Special Reserve Fund as at 31/12/23 of £107,849.
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	N/A

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Charity Commissioners’ Scheme
How is the charity constituted? (e.g. unincorporated association, CIO)	Para 1.25	Unincorporated association

Reference and Administrative details

Charity name	RICHARD HICKS
Other name the charity uses	-
Registered charity number	202543
Charity’s principal address	27 Kipling Drive Towcester Northants NN12 6QY

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Name of person (or body) entitled to appoint trustee (ifany)
Grahame Blanchard	Secretary

Alan Gilbert

Mrs Christine Linda Johns		Nominative Trustee appointed by the Parochial Church Council of the Ecclesiastical Parish of Towcester

Brian William John Manning

Rev Paula Ella Challen		Ex-officio Trustee in the capacity as the incumbent of the Benefice of Towcester, Caldecote, Easton Neston, Greens Norton and Bradden

Nigel Slater	Vice-Chairman

Dr John Robert Sunderland	Chairman

Peter John Morris		Nominative Trustee appointed by the Parochial Church Council of the Ecclesiastical Parish of Towcester

Corporate trustees – names of the directors at the date the report was approved

Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
N/A

Funds held as custodian trustees on behalf of others

Description of the assets None held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Declarations

The trustees declare that they have approved the trustees’ report above.

Signgd on behalf of the charity's trusts•s. Signatwelsl Full nam8} JOHN OBERT SUNDERLAND GRAHAME BLANCF14RD Po•ition CHAIRMAN & TRUSTEE SECRETARY & TRUSTEE Date i&/ ¥/°

Independent examinerfs report on the accounts Section A Rep)rt to the truste1 Independent Examine8 Roport RICHARD HICKS on accounts lor the year ended Charity no (Kanyl 31d December2023 202543 Set out on pages Respective The charit18 trustee5 aTr spOnSIb for the preparation of the acGounts responsibFlities of The d)2rity'8 trustees consider that an att 1$ not required fer this yesr trusteè3 and examiner under section 144 of the Charities Act 2011 (the Charitk9S Actl and that an independent examination is needed. It 15 my responsibilrty to.. exaFnine the acctrunls urthr section 145 of the Charities Act. to ftsllow the procedures F8id down in the general DiGi10n$ given by tha Charity Cotnmi$$ion (under section 14515llbl of the Charities Ad, ar to statewhelher parbcular matters have come to Tny attention. Ila¥i¥ of independent My examinalion was rarriad ¢xJt in accordance with general Directions giv•n ex•lner'$ statement by the Charity Commlsston An examinati¢ includes a vIeW of Ihe accounting records kept by the chaiity and a comparison of the accounts presented with those records. It also includ88 consideration of any unusual items or di5c105ures in Its a¢¢ounls. and seeking explanation8 from tr trustees concerning any such Fnafter5. The procedu$ undertaken do not provide all the eviden that would bÈ required in an audit, and consequently no opinion is given as to wFtthertFae a¢¢ounts Kesent a 'true and fair, view the report is limited lo those matteFs set out in the statement below. Independent In connection with my examination, no rnatter has come lo rny attention examlnèfs statèment 1 which gives me re•Sable cause to believe that in, any Material resp, th6 r8ouirem8111s-. lo keep 8c(xJunting records in accordanc8 with section 130 of th8 Charities Act,. and to wepare accounts whlch attId with the accounting records and ¢ompty with the accountinu requirements ofthe Charrties Ad have not been met." or 2. to which, in my opinion, attention $houkl be diawn in or(rto enable a proper understanding ofthe accounlsto be 8¢ld. Pk8se delele Ihe words in the br8okets rftlJey<lo not<9ppIy. Signed: 02 Name: Relevart wote8slonal qualifi¢alion(sl or body Addross:

RICHARD HICKS CHARITY

Statement of Accounts for the year ended 31[st] . December, 2023

General Account

General Account
	Payments (£)	Receipts (£)	Total (£) 2023	*Total (£) 2022*
Opening Balance			36,250.61	32,350.01
Transfers to Lloyds Bank	(33,720.00)		(33,720.00)	(27,375.00)
Transfer to Special Reserve	(0.00)		(0.00)	(0.00)
Interest from Deposit Fund		1,066.78	1,066.78	237.77
Income from Investments		31,137.81	31,137.81	31,037.83
Closing Balance			34,735.20	36,250.61

Special Reserve Account

	Payments (£)	Receipts (£)	Total (£) 2023	*Total (£) 2022*
Opening Balance			40,752.72	40,358.97
Transfer from General Account		0.00	0.00	0.00
Transfer to Lloyds Bank	0.00		0.00	0.00
Special Reserve Interest		1,785.97	1,785.97	393.75

Closing Balance			42,538.69	40,752.72

Lloyds Bank

	Payments (£)	Receipts (£)	Total (£) 2023	*Total (£) 2022*
Opening Balance			210.99	210.99
Transfers from General Account		33,720.00	33,720.00	27,375.00
Hire of Meeting Room	(0.00)	(0.00)	(0.00)	(0.00)
Maintenance of Church Services	(31,793.00)		(31,793.00)	(24,885.00)
Expenses	(0.00)		(0.00)	(0.00)
Fixed wire electrical test	(0.00)		(0.00)	(1,500.00)
Bellringers	(0.00)		(0.00)	(990.00)
Church roof	(1,719.00)		(1,719.00)	(0.00)
Crypt fan	(208.00)		(208.00)	(0.00)
Closing Balance			210.99	210.99

INCOME FROM INVESTMENTS

		Total (£) 2023	*Total (£) 2022*
February	Income from COIF Investment Income Fund	6,536.77	6,436.79
	Income from COIF Property Fund	1,272.20	1,272.20

May	Income from COIF Investment Income Fund	6,436.79	6,436.79
	Income from COIF Property Fund	1,420.77	1,420.77

August	Income from COIF Investment Income Fund	6,436.79	6,436.79
	Income from COIF Property Fund	1,253.62	1,253.62

November	Income from COIF Investment Income Fund	6,527.25	6,527.25
	Income from COIF Property Fund	1,253.62	1,253.62
		31,137.81	31,037.83

INTEREST FROM DEPOSIT ACCOUNTS

		Total (£) 2023	*Total (£) 2022*
January	Interest from COIF Deposit Account	92.80	1.20
	Interest from COIF Special Reserve	104.32	1.50
February	Interest from COIF Deposit Account	101.91	2.90
	Interest from COIF Special Reserve	114.56	3.61
March	Interest from COIF Deposit Account	104.51	6.76
	Interest from COIF Special Reserve	116.59	8.35
April	Interest from COIF Deposit Account	125.58	5.48
	Interest from COIF Special Reserve	133.19	14.28
May	Interest from COIF Deposit Account	35.52	6.41
	Interest from COIF Special Reserve	136.10	18.24
June	Interest from COIF Deposit Account	39.40	9.17
	Interest from COIF Special Reserve	147.34	25.60
July	Interest from COIF Deposit Account	67.35	15.75
	Interest from COIF Special Reserve	149.51	29.56
August	Interest from COIF Deposit Account	74.73	16.96
	Interest from COIF Special Reserve	165.88	33.33
September	Interest from COIF Deposit Account	80.81	24.20
	Interest from COIF Special Reserve	177.03	46.93
October	Interest from COIF Deposit Account	111.88	39.67
	Interest from COIF Special Reserve	176.57	56.79
November	Interest from COIF Deposit Account	117.16	48.13
	Interest from COIF Special Reserve	184.91	68.89
December	Interest from COIF Deposit Account	115.13	61.14
	Interest from COIF Special Reserve	179.97	86.67

		2,852.75	631.52

RECONCILIATION STATEMENT

	General Account	Special Reserve	Lloyds Bank	Total (£) 2023	*Total (£) 2022*
Opening Balances	36,250.61	40,752.72	210.99	77,214.32	*72,919.97*
Transfers Out	(33,720.00)	(0.00)	(0.00)	(33,720.00)	(27,375.00)
Payments	0.00	0.00	(33,720.00)	(33,720.00)	(27,375.00)
Interest	1,066.78	1,785.97	0.00	2,852.75	631.52
Investment Income	31,137.81	0.00	0.00	31,137.81	31,037.83
Transfers In	0.00	0.00	33,720.00	33,720.00	27,375.00
Closing Balances	34,735.20	42,538.69	210.99	77,484.88	*77,214.32*

Schedule of COIF Investments and their values at 31[st] December 2023

	Total (£) 2023	*Total (£) 2022*
47,609.39 units in Investment Income Fund	944,808	865,296
92,861.00 units in Property Fund	96,947	103,401

Total	1,041,755	968,697

There were no purchase or sale transactions conducted during 2023.

Summary of acquisitions in COIF Investments:

Initial purchase of units on closure of HSBC Investments in November 2000.

Investment Income Fund

30/11/2000 48,494.39 units purchased for £551,315 (General Account) 27/10/2005 5,233.25 units sold for £ 50,000 (General Account) 28/09/2017 3,483.95 units purchased for £ 50,220 (General Account) 28/09/2017 864.30 units purchased for £ 12,458 (Special Reserve)

Total 47,609.39 £563,993 (Special Reserve = 1.82% of units)

Property Fund

27/10/2005 38,250.05 units purchased for £ 50,000 (General Account) 31/03/2006 8,525.29 units purchased for £ 11,700 (General Account) 26/03/2015 17,705.38 units purchased for £ 20,000 (Special Reserve) 28/09/2017 28,380.28 units purchased for £ 33,750 (Special Reserve)

Total 92,861.00 £115,450 (Special Reserve = 49.63% of units)

RICHARD HICKS CHARITY

Balance Sheet as at 31[st] . December, 2023

	General Funds	Special Reserve	Total (£) 2023	*Total (£)* *2022*

Fixed Assets
Investments (Notes 1)	976,445.00	65,310.00	1,041,755	968,697.00

Total Fixed Assets	976,445.00	65,310.00	1,041,755	968,697.00

Current Assets
Cash at Bank (Lloyds)	210.99	0.00	210.99	210.99
Bank Deposits (COIF)	34,735.20	42,538.69	77,273.89	77,003.33

Total Current Assets	34,946.19	42,538.69	77,484.88	77,214.32

Current Liabilities
Amounts falling due in less than one year (Note 2)	0.00	0.00	0.00	0.00

Net Current Assets	34,946.19	42,538.69	77,484.88	77,214.32

Total Assets less Current Liabilities	1,011,391.19	107,848.69	1,119,239.88	1,045,911.32
Amounts falling due after more than one year	0.00	0.00	0.00	0.00

Total Net Assets	1,011,391.19	107,848.69	1,119,239.88	1,045,911.32

Note 1. Valuation as per CCLA mid-market value at 31/12/2023. Note 2. No amounts fell due in less than one year as at 31/12/2022 or 31/12/2023

RICHARD HICKS CHARITY

Statement of Financial Activity Year ended 31[st] . December, 2023

	General Funds	General Funds	Special Reserve	Special Reserve	Special Reserve	Total (£) 2023	Total (£) 2023	*Total (£)* *2022*	*Total (£)* *2022*

Incoming Resources
Deposit Interest		1,066.78		1,785.97			2,852.75		631.52
COIF Investments		31,137.81		0.00			31,137.81		31,037.83
From General Account		0.00		0.00			0.00		0.00
Total Income		32,204.59		1,785.97			33,990.56		*31,669.35*

Outgoing Payments

Funding for Bellringers		(0.00)			(0.00)		(0.00)		(990.00)
Church electrical test		(0.00)			(0.00)		(0.00)	(1,500.00)
Repairs to church roof	(1,719.00)				(0.00)	(1,719.00)		(0.00)
New crypt fan	(208.00)				(0.00)	(208.00)		(0.00)

Maintenance of Church Services
Organist’s Honorarium	(0.00)				(0.00)	(0.00)		(0.00)
Upkeep of Services	(0.00)				(0.00)	(0.00)		(0.00)
Administration Expenses	(0.00)				(0.00)	(0.00)		(0.00)
Church Cleaning	(0.00)				(0.00)	(0.00)		(o.00)
Church Ins + utilities	(0.00)				(0.00)	(0.00)		(0.00)
Parish Share	(31,793.00)				(0.00)	(31,793.00)		(24,885.00)

Administration
Reimbursement of costs	(0.00)				(0.00)	(0.00)		(0.00)
Stationery/photocopying	(_0.00)_				(0.00)	(0.00)		(0.00)
Hire of Meeting Room	(0.00)				(0.00)	(0.00)		(0.00)

Total Payments	(33,720.00)				(0.00)	(33,720.00)		*(27,375.00)*

To Special Reserve	0.00				0.00	0.00		0.00
COIF Investments	0.00				0.00	0.00		0.00

Movement in resources	(1,515.41)			1,785.97		270.56		*4,294.35*
Add current assets b/fwd from previous year	36,461.60		40,752.72			77,214.32		72,919.97
Total current assets at 31.12.2023	34,946.19		42,538.69			77,484.88		*77,214.32*

NB Maintenance of Church Services takes into account the agreed calculation method based on Parish Share only.