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 Fir￿n¢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 & w￿bech 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 Audit￿5 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 J￿￿￿ry 1634. The objects of th8 charity are to apFty th& inetthtr as felhy*s.' to the costs of all ¢*arges and Ourg￿n￿8 pay8b$8 in resped of Ihe tha￿$ preprt*s. to the be￿rt 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 viJl*Jes 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* admln*ath?n and rnana9ement ofthe charity. The Governor5 have cons￿￿￿￿ Chanty C¢Jmrni5sw's guthi¢% put4t arnl t￿ conskjerthat the chadty L8 fu￿￿lIng its ¢*Jltgation8 in this resr*d by achwing the at¢)veobjectives. Char]ty Gov•rnanc• Cod• The seven prin*ks 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)n8*jer￿ 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 ￿C￿Se Deacorts La￿ ako make contrbuth?ns, though. 85 the pr￿￿9￿￿ of 8u¢h prcperty ts Part rfth8 cty8cf8 ofih8 Cat￿ty, full rrHrket rent IS Th)t ch8ry8d. Tha Govemofs who sarved dunrvJ the year a￿ detw.kd ￿ page 2. lTrSLKlng the Annu￿ Ge￿ra1 Meeb"ng. the Govemor6 rrnet I￿r "mes each year plus on frequent cKcasions in ￿lation to sutprx￿TrWttees. 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 e￿rten￿ and skins to enabk them ￿ make a cOntribut￿n to the adrn]n￿tr8tiO￿ of the charity. TW are irrteNM%Ed and. rf thty are wabny to bè app￿￿ted, they are formalty proposed and seconded for3py)wrfrn8rrt at a GDverrx)rs' r*. Noformal tra"n*YJ ffj gN•n to Gover￿[5 but tlw are bri8fB thoroughty as lo the ch8riVs a￿1vIbeS. R•vlew of Progrnss and khlo¥Thnl Desprte the pandemic restrK*on8 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 COrnpb￿J in Octthr 2021 *ryth £1.812.983 being s￿t 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 8￿j ¥AU be uY#Jrred in 202¥23. EhJrirrfJ the year the ch*ity 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 Investr*nis 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 res￿1 the8e propertss were revakjed by £1.CK)O,WO. The F￿nent endu•￿Iunds atth& ￿ar-Ond t12.221.19l1￿2l £11,371.9541. R•￿1¥•# Poli¢y Normal recurriNJ eyPenditu￿ can be by t￿ eywxed irtome of ts ¢harity. but the tharity's 01ft￿hOUSe6 are in co￿tant need ol wair, renovation and mrxleM￿tyon. ￿ Go¥emors rx)nsider tr￿t 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 r￿kS f￿1 by the Charity 8r8 finanaal wisks ts)ntanThJ thè lJss ol income and unforeseen e￿ept￿)naI 8xp8ndiknre, for Iwlth and safety fadures and major Inc*jen￿ e.g. fie. r85ulting in ahM$h￿Se$ tecrrirg un￿habitab1e. Contiryjency plans are In ￿ace to teMpOrar￿Y ￿t￿)use r85ulerts. vostm￿t 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 goc*J estste rrAnagemenL In order to meet these objeGlwes, the G￿rnOr5 have 8ppointsd Mes$r5 C￿1n¥ as th*r r8ceNer5 and agents to man¥Je a dwersfvd pcVffO￿ gfland ￿ an knory b8Si5. th ￿98rd to other ￿ve$tr￿ts, the Govemw sekcled a baL4nc8d impstsnènt ct*ctive wth IN or r￿jiuM rk4k. and ha so Instruc￿ CCLA Inve61nwnt Mon•Jenpnl Ltd. *tho *Jmini5t8rs ts COIF lJwe6trrnnt aThJ Depo$itfunds. Th8 proportion of assets inv85ted in laTrJ. 8qud*5, irKk)7E sknd(s aTrJ deposits tcgeth8r vrith cash balan￿ a￿ kept under Plans forthw luturn As referred to at*Jve the Gevernor5 habE rthed to con*rt a rar Portkknctr at Ch￿r$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$14l￿houses and kt prLVrt*sl and at the same time improve their •￿rgY ￿￿erttY. A quote has been ￿¢￿ed fwewjiture on 75 Cwcons LAne of£58,250 bvhich will be proc4eded with. Fundraising The Charity understand$ its duty to protect the wb[￿. incI￿Y1rvj 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 fUndraI￿r￿j Com￿￿nts during the year. Statwn•ntof d*¢losyrn lo *udllo In so lar as the Govemor3 are aware thgre rgknntaudit nformakn olwhK* the charitys a￿1￿CK5 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 J￿￿￿1 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￿ 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$￿ of accounting pr8p8ratKsn ol tho finanoal State[T￿lts ts appropria*. Based on the WO￿ we have p*rfom*d. have nol paenbftd arry n*r¢l un¢xbinbes r*ng to events or condrfdons that. indivbdualty or co11e¢tNe￿, may ca$t s4nfficanl d￿￿bt on the charw abAtyto conbrHre a5 a going concern fora period of at least Jdve months from whan the financial staternents althor￿d for ￿S￿. Our resp)r￿*￿'1rt￿ and the respLwiblrtM ofthe Go¥en￿5 With T8SP8Ct to g￿r￿j ¢£￿￿M are ¢Jescrl)ed in the rÈkv8nt 8ecbons of repJrt. Oth•r Inf)vemors anr¢ual ￿[*)rt, otherthan the fin8ncial st8terrBnts and ouraL¥Jitofs r8POrt th•r8on. Tr Govemors a￿ reskvBble for the other informatbjn OJntaW￿ within the annual report. OUT cpinion on the financHI staten*nts do88 not rn¥erthe other ￿formatiOn 8xc6pttothe extsnt otheTrv568 e￿￿t￿stated In our reporL do not Èxpress any form of assuran￿ condu5b)n thereon. Our responsi￿1rtY is to read t￿ oth¢r Nforrnat¥)n aTrJ. ￿ d￿g so. eons*Jer WI￿ ts other infomytion Ls materially in￿n8￿tent with the financial staternents Qr our knOw￿d9& obtsmed in c£MJtse of the or Othern￿ apFear5 to te materlaty mB5tated. If wo rdentify such matorial incornstst*n¢*s or apparent ft￿t￿l mBslatemwts. we are required to ¢Jetorrnine WhetI￿r this gNes rkn to 8 material rnwtstement in the finan￿￿ staternellts the[r￿￿¥85. If, bawj on the woth we have perfomied, wg ￿ndUd9 that there i8 a rnateri￿ m1sst*rr￿t of this other inforrnatpJn. we are rBquir•a to report that far£ We hav8 noth￿9 to report in thi8 regard. Matter5 on which wo arv requir￿ tt+ r•port by exceptlon We have nothing to report in resFeCt ofthe foknw.ng mattern in relatwjn to whK* the Charthg¥ {AcccMJnts Reports) R￿u￿t￿n8 2008 reqU￿e us to reFvrt to you rf, in tyinion". th8 infom*Uon gNen In ther￿nC4a1 statsrwts Is ffL ary matend r88k*Ctwth the Govemors. re￿￿ or the charity ha$ not kept adequate accountirvJ records,. or the finarri￿ statements are not ￿ agree￿nt th? accounts.ng re(#)rts and retums,. or e have recewed an the information expknatic￿s ￿ r4uire for our ReBponsibllitl¢8 of Govèmors As expjained lulty li the Governor5. resF?n 144 ofthe ChariiesAct 2011 report in accorfarrLwth ￿gULlbons made uThJer58ctK)n 154 of thatAct. Our obiectNes are to obtsin res5crfth￿ assuranc* air*Jt wl*therthe fjnanclal Statem￿ a8 a Who￿ are free from material mi$5tatemert wl*therdue to fraud or errty. and to tssue an auditorf$ repjrt that ndLkles our opinion. Reasonable assurance is a h>Jh level of assuranc•. but i8 not a guarzntee Ihat an alklit ccffldLh*èJ in 8ccordancswith ISA5 IUK) will a￿y5 detect 8 rn8teri81 rnr55t8ter￿nt when it e￿ts. Mksstaterrwnts can arw from fraud orerrN are Cons￿d material tf. indfvhjualty or In the aggr￿al8. Ihèy Could reasonabty te ejpecled to infvence the deL¥sw)r6 of usws tsken on th& bas￿ ofth&se fnand statements. 5pcV)s￿I1b9s. (yuUined8bgVg, to detectmateI70lmissfatomgnts ffn resp8¢1 I￿19d￿rg fratjd. The exfgnt our ganed an undefStondry ￿1h& legalwKlTrguklt¥yfraffie¥wth appr￿ab* lo LITe Charty andlh8 58Ctorin W it op&rates aMI constdwBd th8 of th8 clwitynotcL¥np￿J vAth tl* ￿pr￿able laws and rngulalK)ns ijLYu(*ng fr8tKlin p8rticularflw that coukl have a malerialimpa¢t ￿ Ihe finanua1st8ternen￿ This Mthdedttrose regul8t￿S dir8cltyr81818dto th8 fin8n¢￿1 sl&lements, including fjnwa1re￿. ￿ lax kgAg&9th. In r8tsthYF to 4¥8f8&c￿s ofthg Charitylhis mcludgdcompb8nce fth th& Ch8nhes Act 20118TrI SORP 2QI9. Th& li￿$ discussed vnih th& a(Lfjt loam rema#Ted abrt toanyKthatK￿s 01n0n-c￿rtpKancfr (hiDuglx)ut fh& audit. We cam6do(rt specfft prOceduft￿ to athfrss Ihe rishs it*nbfied. Trse I￿$ded the ￿￿¥**7?." Rewewjng minutes mee&rw, rewwytg any CcMTes￿￿e￿￿ wllh Ihg Charity appI￿able, asweelng the f￿8r￿lStaternent dthures to untstyirAJ supportmg dcoJmgnt81kM. 8rnIrn8d8 8rquiri8s ofmanaggment andofficprs oflhe Chèrity. Wè hèvg 41so ￿￿&¥￿dt￿e pIc¢edu￿$ in Icylhe repL¥tsng ofanyw￿nts lo OfG0￿￿￿OIS sgrfous In0d￿l rwbng ofltoso matters as n6cgssary vdth ChantYC￿￿1$sC￿Tr. Management Overi￿." To &ldfyss the ofm8n8gwwt ofwlrc4s. caned (￿rf lesUrKJ ofitrumèl8ntriè5 endoth adjustmenls for8ppropri8t8ness. We ￿￿@%￿d5y5terns andpr￿lUr8S to fftJ&ntyw18ntia18r88s ofm8n8g8mgnt override risk. 86cau8e of th8 inhgrentltinttafhYF8 018n 8sA*, thgTri8 a Ihgt w v￿lInC￿ dgteot 8llwu1817be$. i￿uding tlx)se I9￿ng lo a materi81rni88tetemenl ￿ the fxlewel 8l*mgnts ￿n￿￿￿7p1￿8nCv th r8gul8tAx. Th18 iyskinGFpases lh& mcwe tIF&l ¢>)mpI8nce with a laworwlation is r6moved)k¥FP and transactions Trff￿ked n lh8 JInan￿81 ststemenls, 8s ￿ wllbe 19ss fik8ty10 A frJrth8r description of our raswnsbifities & avai￿ on Ihg FRCS Yhebsite at Urancela￿itor￿$-r nsibilrties4or-tFTr8udrt4)f4h description form5 part of our auditorf5 reporL We communth wrth Ihose ¢harged governan￿ wardwi9. amoryj tstherrnatters, the planned swe and ￿mIr1d of the aud and significant audit findtrrys. indudin9 any Signffwt deficMw ￿ internal C￿04 that idenOfy durlng aud frc. itortAE2%80%99 .uklauYTio r.Thi$ ofour r•port Thig report soldytothe th81T￿5 Go%EmoTS. as a br*ty. in att0rrla￿e with Part 4 ofth8 CharitEs IAm)urrts and Reports) Regulation5 2008. Our a￿Jit WCTk ha5 tr*gn uTvJertak8n so that we rn￿jht State to th8 chanty's Govemor5 those matters ￿ are rèquitod to strato to U*m li an auditorfs arnl for no ottw puw. To the lUI￿$t oxtent ￿m)￿lad by L4w, wè do not8CCaPt or assume ￿5￿OnSIbatytO anyo￿ otherthan the and the L*ariVs G(wemorn as a body, lor our audit Work, forthi¥ Teport, or forthe opinions we have fom*d. Price Bailey LLP Chartered Ae¢ounlants and statutory a￿litorS rennyson House Combnd9e Busiw Pa Cambridgo CB4 OWZ Price Balley LLP i4 elgble to act as an atylitor in ofÉethon 1212 ofthe C￿ar0e9 Act 2Cth. Datsd.. 23 January THOMAS PARSONS CHARITY Slatement of Financial Activities Year ended 30 June 2022 Unr•strict•d PornMn•nt 2021 Total Totsl Note Income from: ITNe5tments 246.753 97.280 246,753 97.280 344033 236,231 81.320 317.551 Charrtable acti T¢)tal Income R81sing fjJnd$ 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 f￿ds. T(rtal funds br￿g￿t 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 In￿Me 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 f￿M 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 pern￿nent endoVdTr￿nt 14 1.034,089 12.221,191 973,412 11,371.954 13358280 12.345,366 The tharrAal stst￿1ents 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 sta10m￿rtS have been prepared in accordance wrth AccountirKJ arKJ Reporting by Charities.. Ststement of Recommended Pract(ce applicak4e lo Char￿eS 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 W0￿de a Irue and fair VW. This departure has involved following Accounting and Rekvb'ng by Charibes prepartng their accounts In accordance the Financial Repo￿ng 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 t*kni¢h has since w1t1￿ra¥￿. The fnanual statemerts are prepared under the historral cost convention. Mc*Jff￿d to include certaln Items at fair V￿Ue. The finan￿al statements are prepared in Ste￿n9 vh)Ich is the functsonal currency ol the charity. The signifunt accounting policies applied in the preparation of fiw¢kg1 $tslements are set out beiow. These poltcies have been consi5tendy appbed to all years prewted unless othe￿ise ststed. Ix Income All income is induded in the Statement of Fila￿lay Athitses I&FA) *then the charity Is legally entltlod to the income after any performance conditions have been rt the amunl can be measured reliably and tt is probab that the incon* wll be recewed. Inwne is the amount derwed from the provision of seNce5, rents and knvestment Income falling y￿thin the eharity's principal adiwties. rects3nised on an accruas b￿5. c. Ex￿ndIture Ail expenditure is acojurrted for M an acwaL8 t4sis and ha$ been cla$$ffied urKler headings that aggregate all Costs related to the category. ExPend￿re 1$ re￿nised 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]kn￿n9 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 {con1l￿d) d. Tanglble fixed assets No depreualion has been provlded on the freehokl inVestn￿l 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 in￿alty 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 CoMp￿X 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 sentirr*nl 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￿ fur*Js represent Ihose a￿ts VI)￿h nMJst be held pern￿nenty by the charity, principally investments. Income arising on the e￿lo￿nent funds can be used in a￿rdance 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 P￿paYmentS are valued at the amourrt prepat(I net of any trade discowts due. Acwed income is induded at t best estTmote of the omounts r￿a¥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 obligal*M ￿UllIng frcffl 8 Past even that VAII probably resu￿ In a payment to a third party and the amount due to settle the Ob￿gatiOn can be ff*asur8d or 8stlmatsd reliably. Creditors are nomially re￿nised 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 c￿1 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 inVestrn￿t 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 Wap￿d 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 ThWnageTh￿nt F￿Onnel 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 I￿al schL CO￿eel 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- SO￿al dub forfrieNJslip & SUPFrt)rt EARTH -to support Charitab￿ operat￿n 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 ts￿th 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 $tsrtgd to be tspreciatod. Depreciation excludes the land value of the assets. It is not possib￿ to di8dose listorical CC￿ of thè ohjer almh¢yJses knthich are strthyn at nil value. MLKh of the property was acquired many years ago fom￿1 acC￿nting records w)bat4y nol required and hw)uld have since been fvIIy bYTitten off, and costs by today's standards would be miruscuie. Some otthese ￿der properbes may have been obtained by gift or ￿hange. THOMAS PARSONS CHARITY 14- Noles to the A¢¢ounts Year ended 30 June 2022 8. Inve8tm•nts. FYop•rty At Valuation Current Year At 1 July 2021 ReVa￿atiOn 7,390,CQO 1,000,(￿0 At 30 Juno 21y22 8,390,000 Prlor Year At 1 Ju]y 2020 Revaiuatlon 7.390.000 At 30 June 2021 7,390.000 The woperties there professionally rvrfalued at 30 June 2022 by Cheffins. an indeFendent firm of Chattsred Surveyors and Estate Agents. It is not pjssible to disck)se historica costs for the investment prorerbes. Much of the property was acquired many years ago when fonnai acC￿ntI￿j records V4ere probat4y not required and are not availab￿ now. and c#)sts by today's standards w)uld be mini8cyJle. Some Fxoperties may have been obtained by gift or exchange. g. Invesbnents - sharva Mark•t Valuatlon 2022 2022 2021 2021 At 1 July 2021 Further investsnent Oispo$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 InVestm￿ts 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 AM￿j￿ts def￿d in year At 30 Jur* 2022 23.350 27,741 14. Fund R8conc1￿ati0n 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 I1￿￿ne Expenditure Pemanefrt Endowm*rt 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(v￿ert 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 trans￿tic￿s. 17. Capital Commitment The Governors have resofved to C(￿Vert thè ear PCAt Idectric scootw Sto￿ n*ty bullt at Chor￿er Court into C¢ynmunty rotxn for the use of residents. The qL￿ed cost of corNeNon Is £66,155.