## **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)**|**Dates acted if not for whole**
**year **|**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 nam￿8} 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 truste￿1 Independent Examine￿8 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 a￿￿tt 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 Di￿Gi10n$ 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 K*esent 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•S￿able 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 att￿Id 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¢l￿d. Pk8se delele Ihe words in the br8okets rftlJeyAccount||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|General
Funds||Special
Reserve|Special
Reserve|Special
Reserve||**Total (£)**
**2023**|**Total (£)**
**2023**|**Total (£)**
**2023**||**_Total (£)_**
**_2022_**|**_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.**