THOMAS PARSONS CHARITY Roglstered Charfty numbor 202634 Report and Financial Statements for the year ended 30 June 2022
THOMAS PARSONS CHARITY Contents Year ended 30 June 2022 Page Charity PartieAJlars Governor5, Annual ReF 3to4 statsmant of (>)verrnrs' Responsibtlibe5 Athjilorfs Report to Govemo 6t07 Statement of Firn¢1 Actsvi Balanco Sheet N(rtes to the Accwnts 10t016
THOMAS PARSONS CHARITY Charlty Partl¢ulars Year ended 30 June 2022 The Lord Bishop of Ely The Dean of Ely The Archdeacon of HLmtiWn & wbech D J Brand- Chaim Mrs A Broadhurst R F Clasby- Vicg Chaimwi J Henry (appointed 1411012022) Mrs S M Lindsay A A D Morbey R O Set¢hd- Treasurgr J M Smf(h (retir&J 08104f2tr22) M D Stubbins A Tltypin (appointed 14110r20221 SuperintsndenL' J Ploore Roceivars: Messrs. Cheffin$ Clork: Mrs R Hughes 34 Ward Way Wrtchford Ey Cambs CB6 2JR Principal Bankers: Barc4ays Bank p Auditorn: Price Bailey LLP Chartered Accountsnts and StatLrtory Audit5 Tennyson House Cambridge Business Park Cambridge CB4 OWZ Charity number. 202834
THOMAS PARSONS CHARITY Governors. Annual Report Year ended 30 June 2022 Thè Govèmors preswi tholr r•p)rtaNI aud$ acccwrts forthe year ended 30 June 2W2. Ch•rfty Obfr¢ts Th8 Charty was origlnally estab55hed in 1497 and undera royal th8rt8r dabj 6 Jry 1634. The objects of th8 charity are to apFty th& inetthtr as felhys.' to the costs of all ¢arges and Ourgn8 pay8b$8 in resped of Ihe tha$ preprts. to the bert ofthe alrnspe ofthe tharty rx any of them in suth rnanneras the GoverMrs Ihink f for 8u¢h charitable purp08es for the ger[ ben&frt of inhabiknts of fon1 urtHn distrid ofth8 Cty of Ety leomptslng Ety and Ihe viJlJes of Queen AdePdide, P(rckvA' hyw, Stunth#y Chetti%haml 8$ the Govemtrs think frt. to the prwr costs. ehayges arm1 dand incitstsl to tt admlnath?n and rnana9ement ofthe charity. The Governor5 have cons Chanty C¢Jmrni5sw's guthi¢% put4t arnl t conskjerthat the chadty L8 fulIng its ¢Jltgation8 in this resrd by achwing the at¢)veobjectives. Char]ty Gov•rnanc• Cod• The seven prinks that make up this ox: organvJaiDnJ purpose, kadership, iniegrity. deC)n making risk and conlrol. board fectiveness, diversity, openrws and ac¢ounlabllty, have all keen 0)n8jer by the Governors who were that the charity m8t these prncWes. Organlsatio The chanty rents Lxrt its iivestrnent assets ¢xryi%r#J mainty of knd to eam inrAv for futheranr of its objects. The resthnts in the akrtshouses atThorn88 Parsorts Square, Barnfcrfd CSe Deacorts La ako make contrbuth?ns, though. 85 the pr9 of 8u¢h prcperty ts Part rfth8 cty8cf8 ofih8 Catty, full rrHrket rent IS Th)t ch8ry8d. Tha Govemofs who sarved dunrvJ the year a detw.kd page 2. lTrSLKlng the Annu Gera1 Meeb"ng. the Govemor6 rrnet Ir "mes each year plus on frequent cKcasions in lation to sutprxTrWttees. Al •xp8nditur• fvly apwov&l before keSrvJ underfaken. Governor induction and training New Gov8rTh)r5 are sekied from the 1¢X comrr•mSty. onTry Wthey e rekvant erten and skins to enabk them make a cOntributn to the adrn]ntr8tiO of the charity. TW are irrteNM%Ed and. rf thty are wabny to bè appted, they are formalty proposed and seconded for3py)wrfrn8rrt at a GDverrx)rs' r. Noformal tra"nYJ ffj gN•n to Gover[5 but tlw are bri8fB thoroughty as lo the ch8riVs a1vIbeS. R•vlew of Progrnss and khlo¥Thnl Desprte the pandemic restrKon8 during the eaty rtKJnths of the finaw¥ year thanty was able to succtsslully C("nue ts runniThJ oftme ahshouses, and other tharhtabIe Go¥Mnors' [etingS continwj zw and face to face. The buil(fmg of the aln%houses was COrnpbJ in Octthr 2021 ryth £1.812.983 being st on th8 projecL Th? GoverTh)rs have resolved to convert the car port l eknLtirc SCLK)ter5tQTE Ind in priieGt a community roorn for use of resid8nts. This eyFendrtUTr 15 antiopatsd to be .155 8j ¥AU be uY#Jrred in 202¥23. EhJrirrfJ the year the chity athieved è surpkns on tts fund6 of £60,677 12021 . £99.1831. Th8 unrostrfcted fwds, balants at 30 June 2022 was £1,034.08912021 £973,412). Th8 v8Iu8 Dfthe Investrnis deueawy in the w by £123.812021 gaff) £.234) due to market vdatllty. The statu8 ol certain prcperbes charyed in the Yearfr teffjg th75hOL to irNestrwrt prcwty. AB a res1 the8e propertss were revakjed by £1.CK)O,WO. The Fnent endu•Iunds atth& ar-Ond t12.221.19l12l £11,371.9541. R•1¥•# Poli¢y Normal recurriNJ eyPenditu can be by t eywxed irtome of ts ¢harity. but the tharity's 01fthOUSe6 are in cotant need ol wair, renovation and mrxleMtyon. Go¥emors rx)nsider trt reYer of at teast £500.OIXJ are appropriate for such contlngwoe& At June 2022 reserbw re £1.034.089.
THOMAS PARSONS CHARrrY Govemors, Annual Report- continued Year ended 30 June 2022 Risk management The Govemors have •xarnin•d th8 aroas of the cPoritfs opeffatr)n$ and ¢xJn$bJered ri¥ks facèa in each of thèse arga$. In the opinion of ts GoverTr)rs, the ¢hanty has establi%hed the re50urce5 and r8vivw sy5teTrn which. under nomial cireJJrrtst8nces, shoubj allow these rth to be rnrtyated to an acTrplable e1 in ts ¢Jay to day operations. Rtsk8 The princpal rkS f1 by the Charity 8r8 finanaal wisks ts)ntanThJ thè lJss ol income and unforeseen eept)naI 8xp8ndiknre, for Iwlth and safety fadures and major Incjen e.g. fie. r85ulting in ahM$hSe$ tecrrirg unhabitab1e. Contiryjency plans are In ace to teMpOrarY t)use r85ulerts. vostmt Pollcy The Governors interrfl thet value ol assets shoulj be maintained and enhancEd over the brg tem by Investrnent in a porfdio of freeho and knehobj knd. equrfEs, incr stocks, deposrts In Fund8 and cash, provid that they wouhl not wish to conshler th8 sa of la wrfhout vèry good reason might indude whaThJing land to improve hoklings from the aspect OF gocJ estste rrAnagemenL In order to meet these objeGlwes, the GrnOr5 have 8ppointsd Mes$r5 C1n¥ as thr r8ceNer5 and agents to man¥Je a dwersfvd pcVffO gfland an knory b8Si5. th 98rd to other ve$trts, the Govemw sekcled a baL4nc8d impstsnènt ctctive wth IN or rjiuM rk4k. and ha so Instruc CCLA Inve61nwnt Mon•Jenpnl Ltd. tho Jmini5t8rs ts COIF lJwe6trrnnt aThJ Depo$itfunds. Th8 proportion of assets inv85ted in laTrJ. 8qud5, irKk)7E sknd(s aTrJ deposits tcgeth8r vrith cash balan a kept under Plans forthw luturn As referred to atJve the Gevernor5 habE rthed to conrt a rar Portkknctr at Chr$ter Court to a ¢(¥nmunty room for use by r•swJ8nts- the antwiated ctht ¥ £86.155. Thè Govemors h&è resolved to modemkse ts Ksenti proF¢rtle$14lhouses and kt prLVrtsl and at the same time improve their •rgY erttY. A quote has been ¢ed fwewjiture on 75 Cwcons LAne of£58,250 bvhich will be proc4eded with. Fundraising The Charity understand$ its duty to protect the wb[. incIY1rvj vulrerot4e peop. frorn UllTB850nably ntruswe OT persistent ndrak%ing approach, and undue pressu to donate txrt does not oJrrErrtty fu[raiSe from the public or use any internal fundrak%ets or extemd fundraiswg agenraes for eithertWon• orface to ¢pagn$ and reca¥od m fUndraIrj Comnts during the year. Statwn•ntof d¢losyrn lo udllo In so lar as the Govemor3 are aware thgre rgknntaudit nformakn olwhK the charitys a1CK5 un[. and the Govemors have tsken all steF6 Ihat th8y ougm ID h*e taken to rngke therr6th85 awar• of •ry relevant audit infomiatvm to establish that ttE dJ4riW$ audiLors ar8 awar8 of that irrf¢)rmation. Audito It wlll be propos atthe annuJ gengraE ting that Pricè BaW LLP bo rwpFourted as auditors 21Y22r23. Signed on kehaifofthe Govemors." Chaim Dak.. 13 J1 20fd
THOMAS PARSONS CHARITY Statement of Governors. Responslbllltles Year ended 30 June 2022 Govornors. r•sponsibiliti•s for th• financial stat•monts Charity law requires the Governors to prepare r(nanaal statements for each financial year. Under that law the GoveTnors have elected to wepare the financial ststements in aLKwdance United JQ"ngJom Gènerally Accepted Accounting Practice IUntte<l King(lom Accounting Standards and applicaNe lavfj. Under chartty law the Govemors must not approve the finanual statements unle$5 they are Satisfied that they gTve a true and fair Mew of the slate of 8ffair8 of the Chaity and of the IrmIng OUrCeS and applicakn of resourc68, induding the inccffje and exFendilure, of Ihe ch¥ity for that pwth. In preparing these fincta] statemerrts, the Govemors are required to: sdect suitalje accounting wlioes and then apKAy them txjnslstentty". observe the methods and princip$ in the Ctryaritses SORP 2019 IFRS 102).. make judgements and estimates that are reasonable and pdent.. state whether applut4e accounting slandards have been f01ky4•d, subject to any malerkgl departure8 dlsclosed and expla(ned In the financlal statements prepare the financial statements on the ng cCern ba$ Unl Is inappropriate to presLtme that the arity ¥[ continue in OFeration. The Governors are responsi1¢ tr keepry proper aCcntIng ordS that discbse reasonable 8c£uracy at any time the financial position of the charty and enatAe them to ensure that the finanaal statements wlth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the prowsons of the trust deed. They are s0 responsible for safeguaTding the assets of Ihe charity and hence for taking reasonable steps for the preventbn and deteckn offraud other irregulare5.
THOMAS PARSONS CHARITY
dependentId1torfS Rep¢xtto the G¢rnor¥ ofThryn•s Parson¥ Charity
Oplnlon
We have audfted the financkql stal8nnts ol The Th)m89 P8on8 lty lthe'cfth'i forthe star ended 30 June 2022 whKh
compAse the Stst•rnent of Financial AcfjVit5. BalarKe Sheet and Cashfhx Slaterrwnt and note5 to the financrdl stat•monts.
IndudiNJ svJnificant 8CGounting polus. Th8 fanCi r8pcrfliw fr8ftw that has Ln appld in their preparakn'on is appllcab
law and United "ngdoM Acnting staar& induding Fnancial Reporting Standar(1102 Th8 Fin8na(8IRewt¥Jg Sl8nd8nl
appffcable in th8 UKwJd RepUbkof1nd{Vnffled lfjn9Jcffi Gereraly Aed AwuntiThJ Practice).
In our opin)n the fin8n¢i81 $tenn(S..
ge 3 aThJ lair¥ Oft State ofthe charitys affair5 as at 30 June 2ry22, and of ts in¢xJming r•SOur and
0)p&tIOn of restyjrces, tyjdUdW rts w)come expthgiture. forthe yearthen ended.,
have teen propety prepared in wth unit Generalty Acred A(nt9 Practtc8', and
hav8 teen prepa in accordance th8 re(wirements cllhe Charthes Act 2011.
B•sls for opinion
We conducted our audh in XCOrdan wrth Irrtemabonal StaThYa¥ds on ALyJffjng IUK)11&4s IUKII and applicab law. Our
responsibli "e$ under those SlaS are fvrthef descrl)ed in the a11t0r responsibitties for the audrt of Ihe finanoal Statents
secbon of our retxJrL We are indetndent clthe chanty accordan ethi¢al requirern¢nts that org relevantto our 8rt of
the finan0 SlatentS in the UK. indLtding the FRC'S Ethic21 stsard. and we have cr other ethtal responsibllities in
aceordance with these requutimÈrrts. We thatthe apjrt ovKJtrnt> have Obtain ts SLfftieni and appropriate to prov#Je
a basis for Oltr opinion.
Con¢lusion8 r•lating to going eofiewn
In audthng the finaKial staterrwnts, we have c¢rtbJded thatlhe Go¥vnorn' oFthe s)in9 corKem t)8$ of accounting
pr8p8ratKsn ol tho finanoal State[Tlts ts appropria.
Based on the WO we have prfomd. have nol paenbftd arry nr¢l un¢xbinbes rng to events or condrfdons that.
indivbdualty or co11e¢tNe, may ca$t s4nfficanl dbt on the charw abAtyto conbrHre a5 a going concern fora period of at least
Jdve months from whan the financial staternents althord for S.
Our resp)r'1rt and the respLwiblrtM ofthe Go¥en5 With T8SP8Ct to grj ¢£M are ¢Jescrl)ed in the rÈkv8nt 8ecbons of
repJrt.
Oth•r Inf
THOMAS PARSONS CHARITY Ind?nd•tAdE1D$ Reportto the Go¥emor5 ofThomas PaThon5 Chaffty Icontinuedl Audlior rn8pon8lbffties for the audlt of th? Ilnandal stalpmèni8 We have been appointed as auditor und8r secl>?n 144 ofthe ChariiesAct 2011 report in accorfarrLwth gULlbons made uThJer58ctK)n 154 of thatAct. Our obiectNes are to obtsin res5crfth assuranc airJt wltherthe fjnanclal Statem a8 a Who are free from material mi$5tatemert wltherdue to fraud or errty. and to tssue an auditorf$ repjrt that ndLkles our opinion. Reasonable assurance is a h>Jh level of assuranc•. but i8 not a guarzntee Ihat an alklit ccffldLhèJ in 8ccordancswith ISA5 IUK) will ay5 detect 8 rn8teri81 rnr55t8ternt when it ets. Mksstaterrwnts can arw from fraud orerrN are Consd material tf. indfvhjualty or In the aggral8. Ihèy Could reasonabty te ejpecled to infvence the deL¥sw)r6 of usws tsken on th& bas ofth&se fnand statements. 5pcV)sI1b9s. (yuUined8bgVg, to detectmateI70lmissfatomgnts ffn resp8¢1 I19drg fratjd. The exfgnt our ganed an undefStondry 1h& legalwKlTrguklt¥yfraffie¥wth apprab lo LITe Charty andlh8 58Ctorin W it op&rates aMI constdwBd th8 of th8 clwitynotcL¥npJ vAth tl prable laws and rngulalK)ns ijLYu(ng fr8tKlin p8rticularflw that coukl have a malerialimpa¢t Ihe finanua1st8ternen This Mthdedttrose regul8tS dir8cltyr81818dto th8 fin8n¢1 sl&lements, including fjnwa1re. lax kgAg&9th. In r8tsthYF to 4¥8f8&cs ofthg Charitylhis mcludgdcompb8nce fth th& Ch8nhes Act 20118TrI SORP 2QI9. Th& li$ discussed vnih th& a(Lfjt loam rema#Ted abrt toanyKthatKs 01n0n-crtpKancfr (hiDuglx)ut fh& audit. We cam6do(rt specfft prOceduft to athfrss Ihe rishs itnbfied. Trse I$ded the ¥7?." Rewewjng minutes mee&rw, rewwytg any CcMTese wllh Ihg Charity appIable, asweelng the f8rlStaternent dthures to untstyirAJ supportmg dcoJmgnt81kM. 8rnIrn8d8 8rquiri8s ofmanaggment andofficprs oflhe Chèrity. Wè hèvg 41so &¥dte pIc¢edu$ in Icylhe repL¥tsng ofanywnts lo OfG0OIS sgrfous In0dl rwbng ofltoso matters as n6cgssary vdth ChantYC1$sCTr. Management Overi." To &ldfyss the ofm8n8gwwt ofwlrc4s. caned (rf lesUrKJ ofitrumèl8ntriè5 endoth adjustmenls for8ppropri8t8ness. We @%d5y5terns andprlUr8S to fftJ&ntyw18ntia18r88s ofm8n8g8mgnt override risk. 86cau8e of th8 inhgrentltinttafhYF8 018n 8sA, thgTri8 a Ihgt w vlInC dgteot 8llwu1817be$. iuding tlx)se I9ng lo a materi81rni88tetemenl the fxlewel 8lmgnts n7p18nCv th r8gul8tAx. Th18 iyskinGFpases lh& mcwe tIF&l ¢>)mpI8nce with a laworwlation is r6moved)k¥FP and transactions Trffked n lh8 JInan81 ststemenls, 8s wllbe 19ss fik8ty10 A frJrth8r description of our raswnsbifities & avai on Ihg FRCS Yhebsite at Urancelaitor$-r nsibilrties4or-tFTr8udrt4)f4h description form5 part of our auditorf5 reporL We communth wrth Ihose ¢harged governan wardwi9. amoryj tstherrnatters, the planned swe and mIr1d of the aud and significant audit findtrrys. indudin9 any Signffwt deficMw internal C04 that idenOfy durlng aud frc. itortAE2%80%99 .uklauYTio r.Thi$ ofour r•port Thig report soldytothe th81T5 Go%EmoTS. as a brty. in att0rrlae with Part 4 ofth8 CharitEs IAm)urrts and Reports) Regulation5 2008. Our aJit WCTk ha5 trgn uTvJertak8n so that we rnjht State to th8 chanty's Govemor5 those matters are rèquitod to strato to Um li an auditorfs arnl for no ottw puw. To the lUI$t oxtent m)lad by L4w, wè do not8CCaPt or assume 5OnSIbatytO anyo otherthan the and the LariVs G(wemorn as a body, lor our audit Work, forthi¥ Teport, or forthe opinions we have fomd. Price Bailey LLP Chartered Ae¢ounlants and statutory alitorS rennyson House Combnd9e Busiw Pa Cambridgo CB4 OWZ Price Balley LLP i4 elgble to act as an atylitor in ofÉethon 1212 ofthe Car0e9 Act 2Cth. Datsd.. 23 January
THOMAS PARSONS CHARITY Slatement of Financial Activities Year ended 30 June 2022 Unr•strict•d PornMn•nt 2021 Total Totsl Note Income from: ITNe5tments 246.753 97.280 246,753 97.280 344033 236,231 81.320 317.551 Charrtable acti T¢)tal Income R81sing fjJnd$ Challtable actiMlies 79.275 204,081 283,356 79.275 231.276 310,551 65.351 27.195 27,195 153,017 218,368 Total eyndituro Net Ilossesllgains on Investments Nel surplus on rewaluab¢)n of prop Addthnal prtteeds 2018 land sale Net income I (expenditure) for the year belw net movement In fundB (123.568) 1.OCrf).000 (123.5681 1.000.000 309.234 54.800 60.6n 849.237 909,914 463.217 R•conciliation of fds. T(rtal funds brgt forward T¢)tal fund8 carrled forward 973.412 1,0¥089 11.371.954 12,345.366 12,221,191 13,255.280 11,882,149 12.34S.366 Al InMe and expgnditwe deri from continuing athibe5. The st*ment of finaft¢ athiiles in¢XJdes all n$ and losses reuwised duriry the year. The notes on page5 10 to 16 fM part of these accounts
THOMAS PARSONS CHARITY Balance Sheet At 30 June 2022 2022 2021 Ffxed Assets T8ngible Fixed Assets Investments- woperty Investments. shares 2.208.163 8.390.000 2.170.388 1.791.029 7.390.000 2.293.956 12.768.551 11,474,985 Curvent Assets Debtors Cash at bank 10 11 97.021 473.800 $70.821 81.263 942.498 1.023,761 Current Llabllltle5 Creditors (amounts falling due wthin 1 year) 12 84.092 153,380 Net Current Assets 486,729 870.381 14255,280 11345,366 Funds of the Charity Unrestricted funds pernnent endoVdTrnt 14 1.034,089 12.221,191 973,412 11,371.954 13358280 12.345,366 The tharrAal stst1ents wwe apprDved by the Board of Govemor5 13 January 2023 and signed on their behalf by." D J Brand jCP*imianj Setchel ffreasureri The notes ¢Jn page3 10 to 16 form part Of1 accounts
THOMAS PARSONS CHARITY 10- Notss to the Accounts Yèar ended 30 Junè 2022 1. Accountlng Poll¢l8S a. Basis of Acc¢unttng The charity constilules a public benefft entity as defined by FRS 102. The financial sta10mrtS have been prepared in accordance wrth AccountirKJ arKJ Reporting by Charities.. Ststement of Recommended Pract(ce applicak4e lo ChareS preparing th'r accounts in accordance with the" Rewting Stsndard appllcable in the UK and Republr of Ireland {FRS 102) issued in October 2019. the cl Act 2011, and UK Generaity Accepted Practice as it awies from 1 January 2019. The financial statements have been prepared lo gNe a Irue and view and have departed from the Charities (Accounts aThJ Reports) ReguLations 2008 only lo the exlent wuired to W0de a Irue and fair VW. This departure has involved following Accounting and Rekvb'ng by Charibes prepartng their accounts In accordance the Financial Repong Standard applicabbe in the UK and Republic of Ireland IFRS 1021 issued in Oclobgr 2019 rather than the Accounting and Reporting by Charities.. Statement of Reo)mmended Practice effeLtNe from 1 April 2005 tkni¢h has since w1t1ra¥. The fnanual statemerts are prepared under the historral cost convention. McJffd to include certaln Items at fair VUe. The finanal statements are prepared in Sten9 vh)Ich is the functsonal currency ol the charity. The signifunt accounting policies applied in the preparation of fiw¢kg1 $tslements are set out beiow. These poltcies have been consi5tendy appbed to all years prewted unless otheise ststed. Ix Income All income is induded in the Statement of Filalay Athitses I&FA) then the charity Is legally entltlod to the income after any performance conditions have been rt the amunl can be measured reliably and tt is probab that the incon wll be recewed. Inwne is the amount derwed from the provision of seNce5, rents and knvestment Income falling ythin the eharity's principal adiwties. rects3nised on an accruas b5. c. ExndIture Ail expenditure is acojurrted for M an acwaL8 t4sis and ha$ been cla$$ffied urKler headings that aggregate all Costs related to the category. ExPendre 1$ renised vtherè there i8 a legal or constructThie obligation to make payments to third pkn"es. it is probable that the setttement 111 be reqwred and the amount of the obligation can be measure(I reliabty. It is catsgorised urKlerthe to]knn9 headings: Costs of raising fijnds inclth support ¢osts fry Ihe management of the investment portlolio. fun& ralsing and event organisation.. Expenditure on charit*Jle actimbes indudes grants ma¢Je. governar& costs and an aFporborffient of support Grants payable to third parties are vAthin the charitable objeth"ves. Where uncondrlional grants are offèr8d, this is accrued as soon as the reapient i8 Th)tified of the grant, as this gwes rise lo a reasonable expectation that the recipient wll receive the grants. Where grants are conditional relating to perfomwnce, the grant 13 only accnjed n any unfulfilled condition$ are outside the control of the chaiity.
THOMAS PARSONS CHARITY Notes to the Accounts Year ended 30 June 2022 1. Accountlng PolScles {con1ld) d. Tanglble fixed assets No depreualion has been provlded on the freehokl inVestnl wowties. This treatsnent is deemed acceptable as the propertTes are held for fftvestment PUTposes and are accordingly stsled at open market value. The properties ere professional valued al 30 June 2020 and unless material changes in their value occurs they will be professionally valued every 5 years and subFCt to trustees. valuation in inteTv8niffj yeaTS.. Expenditure In the intervening year5 is induded at ¢c6L Buiklings which are central to the cbjectives of the Chwty have been induded in the accounts al cost less depreciation at on the strawht Ilne basis. Investments Investment$ are a form of bas finanaal instrument and are inalty reoJgnL8ed at their $1 and subsequently measured at their fair value as al the balance sPeet date using the closing quoted market price. The statement of financial acbvitses llKludes the net gains and bsses arising on revduats'on and disposals throughout the year. The Charity does not acquire put opticffls. derN8ti¥e5 or other CoMpX finandal instruments. The main fom of financtal risk faced by the charity is that of votatslity in equity markets and investment markets due to wder economlc conditions, the atbtud¢ of investors lo inveslment risK and tharoes in sentirrnl concerning equities. f. Fund accountirvJ General flsnds are unrestricle(I funds %thich are availabk for use at the discretion of the governors in furtherance of the general objectives of the thrity and 1¢h have not been desgn81ed for other purpases. Endo furJs represent Ihose ats VI)h nMJst be held pernnenty by the charity, principally investments. Income arising on the elonent funds can be used in ardance with the objects of the charity and ts included as unrestrictsd income. Arry capifi gairE or losses ari5irKJ on the investments foryn part of the fund. InveslThth incorne. gains and tosses are allocated to the approprt8te fvnd. g. D•btors PpaYmentS are valued at the amourrt prepat(I net of any trade discowts due. Acwed income is induded at t best estTmote of the omounts ra¥able at the balarKe sheet date. l)ther debt¢Y5 are rgccwised at the settlemefrt amount due. h. Cash and cash equlvalents Cash at bank includes cash hekl in (rre(rt and deposit accoJnts. l. Credltors Creditors are rec&Jni8ed vthere the ¢harity h88 a present obligalM UllIng frcffl 8 Past even that VAII probably resu In a payment to a third party and the amount due to settle the ObgatiOn can be ffasur8d or 8stlmatsd reliably. Creditors are nomially renised at thwr seweftxnl amount. Flnanclal InstnNnents The Charty onty has finandal assets and financtal Ilabilities of a that qualrfy as basic financial instruments. 88sic financial instruments are initially recognised at c1 and subsequenuy measured at theiT seltlement value. Fixed asryets are recorded at rnarket value 8nd 811 other assets and Ilabilities are recerded at cost thich is their fair alue. Details of the $t of investments and unrealised gains are di8d¢)sed in note 8.
THOMAS PARSONS CHARITY 12- Notes to the Accounts Year ended 30 June 2022 2022 2021 2. Incom8 from Investments Rent income Dividends from COIF income units Dividends and interest from Quilter Chevhx inVestrnt Interest from deposits 181,936 64,C61 172.042 58.590 5,052 547 756 246,753 236,231 All relate to unrestric¢e¢l fuThJs in both years 3. Income from Charitable Activities Contri]wlicns by m¥houSe$, res 97280 81.320 All to unregtricted funds in toth yea 4. Cost of Raising Funds Investment management Costs.. Land expen8e8 House expenses A]lotment rent, maintenance & gaI fees Receiverfs fees and expenses Investment managerfs & advis*s fees Insurance 1,904 1836 25.170 34.$08 4,375 5,066 1,082 40.160 2.889 11.799 14.857 79.275 65.351 Al relate to unre8trirted fuNJs in both years S. Charhablfr Actlvltl Unrestricted Funds Almshouse$- utdilies aTrJ repairs Grants Inole 61 To institutions To indwiduals Support and goverwce costs: Salarie5 Pension contiibut#)ns Clerk's fees Legal & consuttancy fees Auditor's remunerati Other expenses 1.899 98.278 36.000 S,323 10,000 1,500 21,500 645 17.172 9,684 2.600 4.258 204.081 20,500 615 17,010 2,940 1.706 153.017 AJmshousts- depreciaton of bjildings 27.195 During the year, M Govemor rec nor Wapd any remunerth. beneffts or expenses (2021 £NIQ. The average number of employees latl part time) was 1 {2021 1). No plOyeeS had emotuments In excess of £60,00012021 Nir). The tharity considers that there are no key ThWnageThnt FOnnel other than the Govemor8 them8efves.
THOMAS PARSONS CHARITY 13- Notes to the Accounts Year ended 30 June 2022 8. Grants 2022 2021 Grants to inslltuUons'. Ety Museum Education Fund- to pro¥ide cc¥Jr5es for Ial schL COeel Coun3elling- Counselling seNces for people on k)w incomes Centre 33 - Counselling and other supF for youThJ pecple st Mary's Churth, Ely- towards building transformalion pr LuvEty- SOal dub forfrieNJslip & SUPFrt)rt EARTH -to support Charitab operatn 5.000 2.000 3.000 3,000 25.000 1,000 2,000 36.000 10,000 Grants to indmduals: Number of indMdua18 to vknom gr we m•Je 1323 11 1,SOO 7. Tanu4ble Flxed Assets Land and Buildlngs CosL' At 1. July 2021 Expenditure during the year 1.791.029 444,329 At30 June 2022 1235,358 Depreciation- At 1 July 2021 Charge for the year 27,195 At 30 June 2022 27.195 Net Book Value: At 30 Junè 2021 1.791.029 At 30 Jun8 2022 2,208,163 Taruible assets are those used for charitabte purposes arKI are designated almshouses. They are suble¢t to the constraints of the scheme for the charity tsth potential liabilit* and they are carried at C081. The costs relate to assets under the course of construction re ccrfnplet8d during the year and have been $tsrtgd to be tspreciatod. Depreciation excludes the land value of the assets. It is not possib to di8dose listorical CC of thè ohjer almh¢yJses knthich are strthyn at nil value. MLKh of the property was acquired many years ago fom1 acCnting records w)bat4y nol required and hw)uld have since been fvIIy bYTitten off, and costs by today's standards would be miruscuie. Some otthese der properbes may have been obtained by gift or hange.
THOMAS PARSONS CHARITY 14- Noles to the A¢¢ounts Year ended 30 June 2022 8. Inve8tm•nts. FYop•rty At Valuation Current Year At 1 July 2021 ReVaatiOn 7,390,CQO 1,000,(0 At 30 Juno 21y22 8,390,000 Prlor Year At 1 Ju]y 2020 Revaiuatlon 7.390.000 At 30 June 2021 7,390.000 The woperties there professionally rvrfalued at 30 June 2022 by Cheffins. an indeFendent firm of Chattsred Surveyors and Estate Agents. It is not pjssible to disck)se historica costs for the investment prorerbes. Much of the property was acquired many years ago when fonnai acCntIj records V4ere probat4y not required and are not availab now. and c#)sts by today's standards w)uld be mini8cyJle. Some Fxoperties may have been obtained by gift or exchange. g. Invesbnents - sharva Mark•t Valuatlon 2022 2022 2021 2021 At 1 July 2021 Further investsnent Oispo$al proceeds (Decrease) I In¢yease in market vahje 1.413,958 2.181.618 500,000 11.287,6601 2,293.956 2,967,237 500.000 (1.462,5151 309.234 (123,568) At 30 Junè 2022 1,413,958 1A13.958 2.170.388 2,293,958 2022 2021 InVestmts at fair market value comprise: COIF Charilies InvestnRnt Fund irwme unrts 2.170.388 2,293.956 10.0glrtor8 Propaymenl$ and accrued incL¥ne Proceeds from 2018 L8nd sale Rent in arrears 6,308 64.8C 25.913 3.452 64.800 13,011 97,021 81,263
THOMAS PARSONS CHARITY 15- Notes to the Accounts Year endad 30 June 2022 2022 2021 11. Cash at Bank Bank current account DeFQStt accounts 50.551 423.249 34.285 908,213 473,800 942,498 12. Credltors Rents Teceived in atfvance (deferred inwne nfkn 13) New development expenditure Other ¢rgJitcrt & accruaL8 23,350 48.302 12.440 27,741 1 16,580 9,059 84.092 1S3.380 13. Defvrrgd Incom? At 1 July 21Y21 27.881 27.881 (27,881) 23.350 (27,8811 27,741 AMjts defd in year At 30 Jur 2022 23.350 27,741 14. Fund R8conc1ati0n Revaluation & Investmènt Los$gS Balancè at 30 June 2022 Currgnt Year ance at 1 July 2021 Pemanent Endowment 11.371,9S4 Unrestricted Fund 973.412 {27.1951 (283.3561 876,432 12,221.191 1,034.089 344.033 12.345,366 (310,551) 876,432 13.255,280 Balancg at w•th•rt 30 June Galm 2021 Pri¢x Year Balarte at 1 July 2020 I1ne Expenditure Pemanefrt Endowmrt 11.007.920 Unrestrfcted Fund 874,229 364.034 11.371.954 973,412 317,$51 1218,3681 11,881149 317,551 1218,368) 364,034 12,345,366
THOMAS PARSONS CHARITY 16- Notss to the Accounts Year ended 30 June 2022 15. Analysls of Net Assets bel Fund Fund5 End(vert Total 2022 Tangible Fixeif Assets Irwestments Debtors Bank Creditors 2.208.163 10,002,170 64,800 15.639} 148.303) 2.208.163 10,560,388 97,021 473.800 184.0921 558,218 32,221 479.439 {35.789} Total Net Assets 1.1)34.089 12.221.191 13.255.280 Uwo8trict•d Perman&nt Funds Endoymient 2021 Total Tanglble Assets Investments Debtors Bank Creditors 1.791.029 9.125.738 64.800 506,%7 (116.5801 1,791.029 9.683.956 81,263 942.498 1153,380) 558.218 16.463 435,531 (36.8001 Tcrtaj Net Assets 973.412 11.371,954 12,346,366 16. Related Partles During the year the Char rented to Kmg's 8y for £9,741 (2021- £807) aThJ rented from the ChL¥¢h Commissioner5 allotment land for £750 {2021- £7501. The Very Reverend M Bonney. Dean of Ety. is a govomor of King's Ely and also a Church Comnwssioner. During the year the charity paid fees of £34,508 (2021- £40,160) to its Recaveffs. Messrg. Chefflns. Mr. D J Brand's son in law is an employee of Cheffins. Mrs S Lindsay is a trustee of EARTH to the dwity m&Je a grant of £2,00012121- Nil) Mrs S Lindsay's husband is a trustse of &y Museum to whith the cth¥tty mad8 a grarrt of£5.0 {2021- £5.CQO) There Ere no further related party transtics. 17. Capital Commitment The Governors have resofved to C(Vert thè ear PCAt Idectric scootw Sto n*ty bullt at Chorer Court into C¢ynmunty rotxn for the use of residents. The qLed cost of corNeNon Is £66,155.