Charity regislration number.. 202996 The Witney Town Charity Annual Report and Financial Ststemenls lor the Year Ended 31 March 2024
The Witney Town Charity Contents (continued) Trustees Report 1to6 Independent Examiner's Report Statement of Finan¢ial Aclivilies 8109 Balance Sheel 10 Notes lo the Financial Slalements 111021
The Witney Town Charity Trustees Report The Irltslees present the annual report together with the financial statements of ihe charity for the year ended 31 March 2024. Objectives and activities Objects 8nd8ims The Charity's objects are the application of income after defraying the cost of mainlaining the property of the charity and the administration and management of the charity on the following.. al lor the benefit of the residents in Ihe almshouses of the charity Of any of Ihem in such a manner as the Trustees think fil Irom lime to lime. bl for the relief of need in relieving either generally or individually persons resident within the aiea of benefit who are in conditions ol need. hardship or distress by making giants of money or providing or paying for items, services or facililies ealeulated lo ieduce the need, hardship or distress of such persons, ¢1 the Trusiees may pay lor such ilems, seNices or facilities by way ol donation or subscription lo inslilulions or organisalions which provide or which undertake in relurn lo provide such items, services or facilities lor such persons. dl in exceptional cases Ihe Trustees may giant relief to persons olherwise eligible therefore who are residenl immediately ouisi¢Je the said area byl in Ihe opinion ol the Trustees ought nevertheless for sufficient reason lo be treated as if a resident therein or who are located lof the time being wilhin Ihal area. Public benefii The Irustees confirm Ihal they have complied with the requirements of section 4 of the Charilies Acl 2011 lo have due regard lo the public benefit guidance published by Ihe Charity Commission lor England and Wales. The charitable purpose for Ihe charity within the meaning of the A¢1 is enshrined within its objects as S181ed above. Page 1
The Witney Town Charity Truslees Report (continued) Achievements and performance The Trustees have continued to maintain, update and operate the eighteen Almshouses, as required by the Trust Deed. The full complement of Truslees ha5 made significant progress in many additional aspects of the Charity's work. The weekly maintenance rent for the 18 Almshouses was frozen ihis year lo help residents cope wilh the cost ol living crisis that followed Covid and the Russian invasion of Ukraine. Further work has been undertaken lo move all Almshouses onlo Smart Meters initially for gas bul evenlually lor electricity as well. This will be more efficient lor the Charity and enable residents lo lake advantage of group energy contracis. The Almshouses in Slaknon lane will be filled with secondary glazing, al a cost of approx. £15,700. The investment property portfolio has been slrenglhened by the pur¢hase from feserves of a Ihird house for Supported Living, which provides support lo the community and a reasonable relurn lor the Charity. Trustees have continued lo work wilh Aspire al the Hub al 14 Church Green which provides support lo our young people aged 18 10 25 who may become homeless without inlervenlion. The Charity provides a grant equal to the lease for years lo aid Aspire build the service. The TrLJStees have agreed to ie-rool 12 and 14 Church Green to overcome regular problems ol slates breakin9. leaks and guller problems. This will be al a cost ol approx. £30.000. The Charily continues lo receive a steady stream of grant requests mainly for white goods for people moving into social housing. Granls lotalling £46.280 were made during ihe year with grants of £1,032 Irom prior years nol 18ken up and wrillen back into the accounts. To strengthen Ihe managemenl ol the Charity. Trustees have appoinled a Deputy Clerk who has a financial back9round. Initially she will locus on introducing compulerised accounts allowing Trustees lo have regular financial reporting and beller visibility of cosis, which will lead lo more effieieni operation. The Deputy will Ihen lake over some ol the Wofk ol Ihe Clerk. in line wilh planning for lulure resource requirements Financial review Policy on reseryes The Iruslees are of Ihe opinion that free reserves should be mainlained at a level equivalent lo six monlhs expenditure on maintenance and grants. Income is relatively secure Irom cornrnercially lel properties and slock markel income has not shown any decline. Any unexpecled major fepairs could be funded in an emergency by the iealisalion of the lisled inveslments. Ai Ihe year end free reserves were £49.872 which would be equivalent lo just under five monlhs expenditure in 2023124. The Iruslees are aware that this level is lower than ideal, and have takèn remedial action duiing 2024125 to re5tOTe Iiee ieserves above six months expendiluie. Page 2
The Witney Town Charity Trustees Report (continued) Investmenl policy and obi8cfrves The Iruslees seek lo hold a medium-risk share portfolio which will generate an average return. The property and slock market investments were reviewed and Ihe income generated was considered satisfactory considering effecls of Covid. Adjustments to the share portfolio were made on the recommendation of Ihe Charity's professional slockbrokei advisor. Dividend and investment income decreased from £73k 10 £53k, partly due to sale of investmen15 to lund purchase of property at 33, Wilkinson Place. The invesimenl portfolio benefilled from a gain on revaluaijon of £61 k. The Tiuslees considei the current inveslmenl policy lo be appropiiale lo meet the Charity's objectives and aims Reference and Administrative Delails Principal Office.. 24 Church Green Wilney Oxfordshire OX28 4AT Ch81ily Registration Number.. Solicitors.. 202996 John Welch & Stammers 24 Church Green Witney Oxlordshire OX28 4AT Bankers.. CAF Bank Limited 25 Kings Hill AvenLte Kings Hill West Maling Kent E194JQ Independent Examiner.. J M Russell FCA Just Audit & Assurance Ltd 37 Market Square Witney Oxfordshire OX28 6RE Tnjslees and officers The Iruslees and officers serving during the year and since the year end Wre as follows.. Page 3
The Witney Town Charity Trustees Report {continued} Truslees.. Mr Ashley Farmer. Chair Mrs Judilh White Ms Amanda Collicut Mr Chris Woodward. Deputy Chair Mr Chris Dyer Ms Melanie Jones Mr Brendan Kay Mis Kathy Liddell Dr Paul Watson Mrs Joycelyn Altman Ms Rachel Crouch Mi Bairy Beadle lappoinled 1 May 2023} Ms Georgia Meadows lappoinled 14 May 20231 Mrs Jeanelle Baker Senior Management l Leadership Mr Mark 8akef. Clerk Team.. Mrs Belh Burge. Deputy Clerk Structure, governance and management N8ture ofgoveming documenl The governing document of the charity is the Deed of Trust issued in Oclober 1981. ès amended 8 March 2007, to widen Ihe area ol benefit to West Oxfordshire with preferen for the town ol Wilney Recmilmenl and8p9n1nt oliruslees The Board of Trustees is made up of fourteen Iruslees. six of which are nominated by Wilney Town Council for a period of four years and eighi Cowopied Trustees appointed for five years ty resolution at a special meeting. Arr8ngements lorsetting key nnagement personnel remuner8fvon Day lo day operation ol the charity is delegated io the clefk to the chaiity, Mr Mark Baker. Majornsks andmanagennI olihose nsks The major risks to which the charity is exp)sed, as identified by Ihe Trusiees. have been reviewed and systems established lo manage those risks. Financial instruments Obj8cfvv8s andpolicies The charity's activities expose it to a number of finanual risks including credil risk, cash flow risk and liquidity risk. The use of financial derivatives 15 governed by the charity's policies approved by Ihe board ol trustees, which provide written principles on the use of financial derivalives to manage these risks. The charity does not use derivative financial instruments lor speculative purpose5. Page 4
The Witney Town Charity Trustees Report (continued) Cash flownsk The charity's activities expose it primarily to the financial risks ol changes in foreign currency exchange rates and interest rates. Interest bearing assets and liabilities are held al fixed rale lo ensure certainly ol cash flows. Credit nsk The charity's principal financial assets are bank balances and cash, Irade and other receivables, and investments. The charity's credit risk is primarily attributable lo ils trade receivables. The amounts presented in the balance sheet are net of allowances lor doubttul receivables. An allowance lor impairment is made where there is an identified loss event which. based on previous experience, is evidence ol a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the Counlerparties are banks with high credil-raiings assigned by international credil-rating agencies. The eharity has no significant concenlralion of credit risk, with exposure spread over a large number of counlerparlies and customers. Page 5
The Witney Town Charity Trustees Report (continued) Stslement of Trustees. Responsibilities The Iruslees are responsible lor preparing the Tnjstees. Report and the financial statements in accordance with Ihe United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulalions. The law applicable to charities requires the trustees to piepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and ol the incoming resources and application ol resources of the charity for that period. In preparing these financial slalements, the Iruslees are required lo: select Sulble accounting policies and then apply them consistently: observe Ihe methods and principles in Ihe Charilies SORP., make judgements and estimates that are reasonable and prudent.. slate whelher applicable accounting standards have been followed. subject lo any material departures disclosed and explained in Ihe financial slalemenls. and piepare the financial slalemenls on Ihe going concern basis unless il is inappropriate lo presume that the charity will conlinue in business. The Iruslees are responsible for keeping proper accounting records that disclose with feasonable accuracy al any lime the financial posilion ol the charity and enable them lo enstjre that the financial slatemenls comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulaiions 2008, and the provisions ol Ihe conslilulion. The Irustees are also responsible for saleguarding Ihe asseis of the charity and hence lor taking reasonable steps lor Ihe prevenliorb and deieclion ol Iraud and other irregularities. The trustees are responsible lor the maintenance and inlegrily ol Ihe corporate and financial inlorwnalion included on the chaiilable company's websile. Legislalion governing Ihe preparation and dissemination ol financial slalemenls may differ from legislaiion in other jurisdiclions. The annual report was approved by the Iruslees of the charity on 1 O¢lober 2024 and signed on its behalf by.. arme Trustee Mr Chris Woodward Trustee Page 6
The Witney Town Charity Independent Examinerfs Report to the trustees of The Wilney Town Charity I report to the trustees on my examination ol the accounts of The Witney Town Charity for the year ended 31 March 2024. Re$pon$ibilities and basis of report As the charity Iruslees of The Witn&y Town Charity you are responsible for the preparation of the accounts in a¢cordan¢e wilh Ihe requirements of the Charities Act 2011 {'Ihe Act,). I report in respect of my examinatK*n of the The Witney Town Charivs accounts carried out under section 145 of the 2011 Acl and in carrying out my examination I have followed all Ihe applicable Directions glven by the Charlty Commlssion under section 145{5llb) of the Ael. Independent examlnerf$ ststement I have completed my examlnation. I confirm that no material matters have come lo my attenlion in connection with Ihe examination giving me cause lo believe that in any matefial respect.. 1. accounting records were not kept in respect of The Witney Town Charity as required by section 130 of the Act., or 2. the accounts do not accord with those records. or 3. the a¢counis do not compty with Ihe accounting reqU1ments ¢on¢emlng th& form and ¢onieni of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounis give a 'lrue and fair vieNV which is not a matter considered as part of an independent examination. I have no concems and have come across no othor matttsrs in connedion wilh the examination 10 which attention should be drawn in this report In order to enable a proper unders18nding of the accounls to be ached. J Wrighl FCA Ju$1 Audil & Assurance Ltd 37 Market Squa Wilney Oxfordshire OX28 6RE 2 October 2024 Page 7
The Witney Town Charity ststement of Financial Activities for the Year Ended 31 March 2024 Totsl 2024 UnrestriLted Restricted Endowment Nole Income and Endowments from: Investment income Other income 52,715 130.043 52,715 130,043 Tolal Income 182 758 182 758 Exp8nditure on.. Charitsble acliviiles Other expendilure Propety malnlenance and adminislralion Investment managernenl 14 61.992 7.231 11.906 73,898 7,231 76.933 10.888 76,933 10,888 Total Expenditure Gainsll105ses) on Investment assets 11.906 168,950 60.569 Nel incomellexpenditurel Gross transfers betsveen funds 86,283 (11,906) 74.377 583,849 4.658 579.191 Nel movement in funds 1497.566) 17.248) 579.191 74,377 Reconclliation of funds Total funds brought forward 1,853,563 19.250 1.937 186 3 809,999 Totsl funds carried fotward 10 1355 997 2 516 377 3 884 376 The rboles on pages 11 to 21 fomi an integral part of these financial statements. Page 8
The Witney Town Charity Statement of Financial Activities for the Year Ended 31 March 2024 (continued) Totsl 2023 Unrestricted Restricted Endowment Note Income and Endowmenls from.. Investment income Other income 73.412 110,113 73,412 110.113 Total Income 183.525 183,525 Expenditure on: Charitable activities Other expenditure Property maintenance and adminisir8lion Investment management 14 60,613 450 60,613 450 59,364 10.985 59,364 10,985 Toial Expenditure Gainslllossesl on investment assels 131,412 131,412 12.652 12,652 Nel income Gross Iransfers betrleen funds 39.461 39,461 810 810 Nel movement in lunds 38,651 810 39,461 Reconciliation of fund$ Total funds broughi forward 1,814.912 18,440 1 937,186 3,770,538 Total funds carried lorward io 1,853 563 19,250 1937,186 3 809,999 All ol the charity's a¢livities delive from continuing operalions during the at)ove periods. The lunds breakdown for 2023 Is shown in note 10. The notes on pages 11 10 21 form an integral part of these financial statements. Page 9
The Wilney Town Charity (Registration number: 202996) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Investments 3,834,504 3,670,548 Currenl assets Debtor$ Cash al bank and in hand 6.645 46,958 7.220 139,769 53,603 146,989 Creditors.. Amounts falling due wilhin one year 3,731 7,538 Nel current assets 49,872 139,451 Nel assets 3,884,376 3 809,999 Funds of the charlty.. Endowment funds 2.516,377 1,937,186 Restricted income funds Restricled fund$ 12,002 19,250 Unreslricled income fund$ Unrestricted funds 1,355,997 1,853,563 Toial funds 10 3,884,376 3 809 999 The financial slalemenls on pages 8 10 21 were approved by the trustees, and aljlhorised lor issue on 1 October 2024 and signed on their behalf by.. Mr Ashley Trustee Mr Chwis Woodward Truslee The notes on pages 11 to 21 form an integral part of these financial statements. Page 10
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 1 Accounting policies Slatement of compliance The financial slalemenls have been Prepared in accordance wilh Accounting and Reporling by Charities.. Slalement of Recommended Praclice applicable to chaiilies preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191- ICha¥ities SORP {FRS 102)), Ihe Financial Reporting Standard applicable in the UK and Republi¢ of Ire18nd {FRS 102) and the Charities Act 2011. Basls of preparation The Wilney Town Charity meets Ihe delinilion of a public benefit entity under FRS 102. The accounts (financial slalementsl have been prepared under the historical cost convention with items recognised al cost or Iransaciion value unless QtheTh¥ise slated in the relevanl nolels) lo these accounts. Going concem The Irtjstees eonsider Ihal there are no material uncertainties about the charity's ability lo continue 8$ going concern. In¢ome and endowments Volunlary income including donations. gifts, legacies and grants that provide core funding or are ol a genefal nature is recognised when the cgarity has enlillement lo the income, it is probable that the income will be Teeeived and the amount can be measured wolh sufficient reliability. Donalions andlegaoes Donations and legacies are re¢ognised on a receivable basis when receipt is probable and the amount can be reliaably measured. Expenditure All expenditure is re¢ognised once Ihere is a legal or constructive obligalion to Ihat expenditure, il is probable settlement is required and Ihe amount can be measured reliably. All costs are allocated to the applicable expenditure heading thal aggregate similar costs lo that category. Where costs cannot be directly allributed to particular headings Ihey have been allocated on a basis consislenl wilh the use of resources. with cenlral stafl cosis allocated on the basis of time spent. and deprecialion charges allocated on Ihe portion of the asset's use. Other support costs are allocaled based on the spread of staff cost5. Gh8rilable aclivifres Charitable expenditure comprises those eosis incurred by the charity in Ihe delivery ol ils activities and services for its beneficiaries. It Includes l)oth cosls that can be allocated directly lo such activities and those cosls of an indirect nature necessary lo support Ihem. Granlprovisions Provisions for grants are made when the intention lo make a grant has been communicated lo the recipient but there 15 uncertainty about either the liming of Ihe grant or the amount of grant payable. Page 11
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Value Added Tax Wilney Town Charity is rkol registeied for Value Added Tax. In the financial slalemenls expenditure 15 shown inclusive ol VAT. Such irrecoverable VAT is charged againsl Ihe category of resources expended for which il was in¢urred. Apportionmenl of management expenses Management expenses are apportioned behveen inveslmenl management costs, charitable aclivilies and governance ¢05ts on the basis of the time engaged. Governance cosls These include the costs aliributsble io the charily's Complian with conslilulional and stalulory requirements. including audit, strategic managemenl and trustees meelings and reimbursed expenses. Taxation The charity Is considered lo pass the lests set out in Paragraph 1 Schedule 6 of the Finance Acl 2010 and Iherelore it meets the definilion ol a charitable company for UK corporation lax purposes. Accordingly, the charity is potentially exempl from tsxalion in re5peei ol income or capitsl gains received within calegoiies covered by Chapler 3 Part 11 01 ihe Corporation Tax Acl 2010 oi Section 256 01 Ihe Taxation of Chargeable Gains Acl 1992. 10 the extent that such income or gains are applied exclusively lo chariiable purposes. Freehold propert18S Freehold properties Ilhe Almshouses and small parcels of landl aTr included in the accounts 01 nil cost as these were donated lo the charity al ils inceplion. Improvements made to the properties have been shown as additions lo fixed assets since Mareh 1993. bul then fully depreciated in ihe year in which the cos15 were incufred.. previous lo this dale the 0Sts were immediately wrillen off lo the income and expenditure account. The result ol this Irealmenl leaves assets with a nel book value of nil which in the opinion of the Irustees lully rellecls their market value due lo reslrictions p18ced upon Iheir Use and Ihe lack ol any material income derived from them. Investment properties Investment property is carried al fair value, derived from the current market prices for comparable real eslale delermined periodically by external valuers. The valueis use obsetvable market prices, adjusted if necessary lof any difference in Ihe nature, location or condilion ol the specific asset. Changes in lair value are fecognised in income and expendilure. In the interim valuations are provided by the Trustees wilh due regard to ihe yields being obtained, local markets and price changes since the last formal valuation. Page 12
The Witney Town Charity Noles to the Financial Statements for the Year Ended 31 March 2024 (continued) Fixed asset investments Fixed asset investments, other than prrarnme Tel8ted investments, are included at market value al the balance sheet dale. Realised gains and losses on inveslments are calculated as the difference between sales proceeds and their market value al the start of the year, or Iheir subsequent cost. and are charged or credited to the Siatemenl of Financial Activilies in the period ol disposal. Unrealised gains and losses represent the movement in market values during the year and are CTediied or charged lo the Siatemenl of Financial Activities based on the market value at Ihe year end. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, an¢J other short-term highly liquid inveslmenis Ihat are readily convertible lo a kn¢)wn amount of cash and aTe subject lo an insignificant risk of ch8nge in value. Foreign exchange Transaclions in foreign currencies are recorded at the rale of exchange at the dale of Ihe Iransaclion. Monetary assets and liabililies denominated in foreign currencies al the balance sheet date are reported al Ihe rates ol exchange prevailing al that dale. Resources expended A granls sub-committee meels monlhly 10 consider those applicalions received from third parties such as social services and Citizens Advice or Conneclion fioating support. These applicalions are lor the relief ol hardship or distress as sel out in the governing document. No applications are made directly by members of the public. The Charity considers that in this way they can be assured ol the genuineness ol the need. Typically ihe applications are to help those relying on stste benelils especially when Ihey are moving ffom supported housing lo independent living. Fund structura Unrestricted income funds are general funds Ihal are available for use al the Irusiees discretion in furtherance of ihe objectives of Ihe charity. Resliicled income funds ale those donated for use in a particular area or for specific purposes, the use of which is reslricled lo Ihal aiea or purpose. Page 13
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Endowmenl funds The endowment fund was crealed in 1981 when the charity was fornied from the amalgamation of several smaller local charities. This fund comprised Ihe Almshouses, several small parcels of land, other properties held as inveslmenls, loans lo WODC and other listed inveslments. The income deriving from these was lo be ulilised by the charity lo carry out ils objects in the year and also to fund cyclical repairs and maintenance and the extraordinary repairs reserve (see below). Cyclicalrepairs 8ndmaintenance The charity has established a regular programme of eyclic81 repairs and maintenance. Costs are charged lo the revenue accounl in the year in which they ale incuired. Extraordin8ry repairs Cosls ol extraordinary repairs. unless represenling impiovements lo the properties are charged lo the revenue aecouni in the year in which they are incurred. Extraordinaryrepairs reserve This fund was estsblished as part of Ihe original deed lor the purpose of providing for the extraordinary repair, improvemenl or TbuIldIng of the Almshouses and olher property belonging lo the charity, lo be maintained by the transfer of £810 yearfy from income. Flnancial instruments cl8ssific8tion Financial a55els and financial liabilities are recognised when the charity be¢omes a party lo the contractual provisions of the inslrumenl. Financial liabililies and equity instruFneniS are classified according lo the subslance ol the contractU81 arrangements entered into. An equity inslrumenl is any contract thai evidences a residual interest in the assets ol the charily after deducting all of its liabilities. Recognition and measuremenf All financi81 assets and liabilities are initially measured at transaction price (including transaction coslsl, except for those financial asse15 classified as at fair value through profit or loss, which are initially measuied al fair value (which is normally Ihe transaclion price excluding transaction coslsl, unless the arrangement constitutes a financing Iransaclion. If an arrangement conslilules a financing Iransaclion, the financi81 asset or financial liability is measured at the present value ol Ihe fulure payments discounted al a market rate of inleresl for a similar debt instrumenl. Financial assets and liabilities are only offset in the slatemenl of financial position when. and only when there exists a legally enlorceable right lo set off the recognised amounts and the charity intends either lo settle on 8 nel basis. or io realise the asset and sethe the liability simultaneously. Financial assets are derecognised when and only when a) the conlraclual rights lo Ihe cash flows from the financial asset expire or are settled, b} the charity Iransfers to another party subslantl8lly all of the risks and rewards of ownership of the financial assei, or cl the charity. despite having retained some. bul not all, signilicanl risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are deiecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 14
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 2 Investment income Unrestricted funds General Total funds Interest receivable and similar income. Inlefesl receivable on bank deposits Other income from fixed asset investments 443 52,272 443 52,272 Totsl for 2024 52,715 52,715 Total for 2023 73,412 73,412 3 Other income Unrestricted funds General Total funds Rental income Olhei income 126.389 3,654 126,389 3,654 Total for 2024 130,043 130043 Tolal for 2023 110113 110113 4 Taxation The charily is a registered charity and is therefore exempl from tsxalion. S Flxed asset investrnents 2024 2023 Investment properties Other investments 2,516,377 1,318,127 1,937.186 1 733.362 3,834,504 3,670,548 Page 15
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Inve5tmenl properties Investment properties Cost or Valuation Al 1 April 2023 Addilions 1,937,186 579,191 Al 31 March 2024 2,516,377 Provision Al 31 March 2024 Net book value Al 31 March 2024 2,516,377 Al 31 March 2023 1,937,186 The valuation provided above is derived from rentsls eamed from the invesiment pioperties,. the rentals having due regard lo those achievable within the respe¢tive locales. No external valuation was Carried out this year. Other Investments Lisled invesiments Total Cost or V81uation At 1 April 2023 Revalualion Additions Disposals 1.733.362 1,733,362 60,568 60.568 79,555 79,555 555,358 555.358 Al 31 March 2024 1.318.127 1,318,127 Nel book value Ai 31 March 2024 1,318,127 1,318,127 At 31 March 2023 1,733,362 1 733,362 Page 16
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) Significant holdings No individual investments comprised over 5% of the value of the portfolio. 6 Debtors 2024 2023 Piepayments Other debtors 5,533 1,112 6,275 945 6,645 7,220 7 Cash and cash equivalents 2024 2023 Cash al bank 46.958 139,769 8 Creditors.. amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals 796 950 1,985 3,731 2,050 5,488 7.538 9 Commitments Other financial commitments Re-iooling of 12 and 14 Church Green expected to cost £30.000 and secondary glazing costs of Almshouses 81 Station Lane to be £15.700 The lolal amount of other financial commiknents not provided in the fillancial stslemenls was £Nil 12023 £Nill. Page 17
<000 a) ¢ J (J c
UJ ¢7) t 00 J CL
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) The specific purposes for which the funds are to be applied 8ie as follows.. Age Concern This fund was crealed in September 2010 on the receipt 01 £16,460 from the dissolution of Age Concern Wilney., the monies are used lo help Ihe elderly of Witney. North and Wesl Oxon Carers In October 2011 the charity re1Ved a donation of £15.302 from the dissolution of the North and Wesl Oxon Carers Cenlre. The monies are lo be used lo support carers in the area. 11 Analysis of net assets between funds UnTestricled General Endowment Expendable Restricted Totsl funds Fixed asset inveslmenls Currenl assets Curienl liabilities 1.318,127 41,601 3.731 2,516,377 3.834.504 53,603 3,731 12,002 Total net assets 1.355.997 12,002 2.516,377 3,884,376 Unrestricled funds General Endowment funds Expendable Total fund$ al 31 March 2023 Restricted fund$ Fixed assel investments Current assets Current liabilities 1,733,362 127,739 7,538 1.937,186 3,670.548 146,989 7,538 19,250 Total nel assels 1.853,563 19.250 1.937,186 3,809.999 12 Relaled party transaction$ There were no related party transactions in Ihe year. 13 Independent examineVs remuneration 2024 2023 Examination of the financial statements 1,893 Page 20
The Witney Town Charity Notes to the Financial Statements for the Year Ended 31 March 2024 (continued) 14 Total resour5 expended Totsl expenditure Unrestricted funds General Restricted funds Totsl funds Note Grant funding of activities Allocated support cosls Governance costs 33,342 26,376 11,906 45,248 26,376 2.274 Totsl for 2024 61,992 73,898 Total for 2023 60.613 60,613 15 Trustees remuneralion and expenses No Iruslees, nor any persons connected wilh them. have received any remuner81ion ffom the charity during Ihe year. Trustee Indemnity In$urance Trustee Indemnily Insurancè of £381 was incurred on behalf of Trustees12023 - £381) Page21