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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 204117

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

SPONNE & BICKERSTAFFE CHARITY

SPONNE & BICKERSTAFFE CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 18
Detailed Statement of Financial Activities 19 to 20

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity continues to fulfil the requirements of Archdeacon Sponne's Will dated 1447 including the dispensing of help to the 'needy of the Parish' through the Relief in Need Branch.

Through its Almshouse Branch the charity continues the tradition started by Thomas Bickerstaffe in 1689 to provide accommodation for 'ancient men and women to be of good character' drawn exclusively from those who have lived for some time in the Parish of Towcester.

Public benefit

In deciding the activities of the charity the trustees have had regard to the guidance issued by the Charity Commission relating to public benefit and are content that all the charity's activities fall within this guidance

Page 1

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

ACHIEVEMENT AND PERFORMANCE Chairman's Report

Let me start by saying this year has been quite a challenging year for so many people and this year's report is heavily referenced to the impact of Covid on the Charity.

The year started quite well; we had the usual finance meeting at the start of the year chaired by Dr Stephen Burnley our Treasurer, whereby we set the Budget for the coming year.

My thanks as ever go to Stephen for the fantastic job he does as treasurer.

In February, we began to see the start of the Covid 19 pandemic, and in late March we went into full lockdown.

It was immediately apparent that we would no longer be able to hold our regular face to face monthly meetings and had to adapt and investigate ways of meeting remotely.

After trialling different mediums (Microsoft Teams, Skype and Zoom) we settled on Zoom as the preferred meeting client. It took a couple of months to fully iron out the issues and to get to a point where all Foeffees were happy with the technology, but we finally managed it.

An Emergency Committee was formed, being chaired by Gail Caseman Jones, whose skill set is in emergency planning. The committee immediately set about assessing the situation and ensured vital services were maintained while protecting our staff and residents.

We held regular virtual emergency planning meetings via Zoom and WhatsApp to ensure we could react promptly to any upcoming issue and to ensure compliance with the ever-changing government guidelines.

As a result of the quarantine situation, the Legionella and quinquennial major works were put on hold, however the regular Legionella and safety tests were still able to be carried out.

Following government advice our Wardens and Clerk spent most of the year working from home where possible, the Feoffees agreed very early on that our staff are vital to the smooth running of the charity and must be fully supported during this pandemic and salaries would not be reduced.

I would like to take this opportunity to thank Gail and all the Feoffees and staff who went above and beyond the call of duty, organising telephone trees and phoning residents to ensure that they did not feel too isolated and helping monitor our resident's mental health.

On 21 April we took part in the Annual Founder's Day service which due to restrictions had to be a remote zoom service and no traditional Founder's Day meal at the end.

This year Bob Cutts stepped down due to health reasons, Bob has been a huge help applying for Grants for the Charity, we also saw Lis Nun stepping down after many years of service, Lis has been a great support and sounding board to me as Chairman during my term and will be greatly missed by everyone.

We managed to recruit several Feoffees this year almost bringing us up to a full complement although a couple of new members had to step down for personal reasons.

We were able to get our roof repaired and our car park re surfaced and a computer suite installed this year thanks to Grants from the local council. The Communal Kitchen has finally been replaced and modernised, however due to Covid restrictions has not been used as the communal areas (apart from the Laundry) have remained closed to the residents.

We were able to replace the hot water systems in two bungalows from a vented to unvented system as part of an ongoing plan to reduce the risk of Legionella by removing the loft cold water header tanks in the loft.

The Lodge bay window is starting to show its age and needs attention this is scheduled for 2021.

Page 2

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

In September we were able to perform our Annual land visits to inspect Talbot Meadow and the land farmed by Mr Tate in Farthingstone (within the Covid constraints in force at the time).

The Annual Bungalow Inspections were also performed in September, again due to restrictions these were done on the doorstep of each bungalow relying on the residents to report any issue. Carol Blake our vice chair accompanied me during the inspection and devised a questionnaire to get some personal feedback from the residents on their well-being and comfort level which was very helpful. It re-affirmed our suspicions that the storage heaters, some of which are over 40 years old are very antiquated and are too expensive to run to provide the comfort level required and therefore many residents are constantly cold.

Affordable heating for our residents has become a priority for the charity and Dr Stephen Burnley has agreed to investigate green affordable solutions to the problem.

Part of the charities remit is to provide relief in need support to residents of Towcester who have fallen on hard times.

In 2020 we managed to help 6 families in need, in addition It also came to our attention that an increasing number of parents were struggling to feed their children especially during the school holidays and it was decided that we would provide food vouchers to the schools to distribute to families identified as struggling.

In December it was agreed that because the resident's annual day out was unable to go ahead and the Residents Christmas Party had to be cancelled, we decided to divide the Trip fund out amongst our residents and provide them a bit of a Christmas bonus to help boost their spirits.

We were able however to provide a socially distant carol service thanks to Rev Paula Challen and the church choir - thank you Paula.

We also decided to erect a real Christmas tree on the communal lawn this year to lift the spirits of our residents, this was done, and my thanks go to Rev Paula Challen, Rev Lulu Pelly for organising and Dan Richmond Watson, Estate Manager at Wakefield farm for very kindly providing the Christmas tree.

We finished the year off by distributing Christmas vouchers to our residents and the residents of Towcester who are in need.

Alan Gilbert

Chairman

FINANCIAL REVIEW

Financial position

At the year end the total reserves of the charity are £767,436 which are all restricted funds as per the notes to the financial statements.

Investment policy and objectives

The charity has the power to make any investment which the Trustees see fit. The Trustees will generally invest the bulk of reserves in C.O.I.F. funds but will make other investments as appropriate.

The movements in fixed assets and investments during the year are set out in the notes supporting the financial statements.

Reserves policy

At the year end the cash reserves of the charity stood at £62,467. The charity's policy is to maintain sufficient reserves to maintain the buildings in good order and meet foreseeable needs. Investments are maintained to provide income to help the charity meet its objectives. Investment income is allocated between Almshouse and Relief in Need branches.

Market Value of the Property

The Trustees consider that the market value of the Almshouses as at 31 December 2020 was £1,250,000 compared with a balance sheet value of £329,047.

Page 3

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The charity is registered with the Charity Commission, and the Governing document was sealed on 5 May 1982.

Recruitment and appointment of new trustees

Trustee selection methods: the body of trustees shall consist when complete of 15 competent persons being:-

Six nominative trustees appointed by Towcester Town Council to serve for four years and nine co-optative trustees who shall be persons who through residence, occupation or employment or otherwise have special knowledge of the parish of Towcester and are appointed for a period of five years. Each new trustee is given Charity Commission booklets and a History of the Charity.

Organisational structure

The trustees delegate most routine operational decisions. The warden is responsible for the welfare of Moor Field residents and the clerk for the maintenance of the buildings and administration of the Relief in Need branch. The warden may call for medical social services assistance when required and repair and maintenance suppliers in an emergency.

Decision making

A monthly meeting of trustees is held and the chairman has the casting vote in any decision making. Two separate committees meet to discuss finance and Relief in Need.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

204117

Principal address

Moor Field Buckingham Way Towcester Northamptonshire NN12 6PE

Page 4

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020

Trustees

Mr P Allen Mrs C Blake Mr S Burnley Mrs G Caseman-Jones Mr B Cutts - resigned 8th July 2020 Mr A Gilbert - Chairman Mrs J Hart Mr I Massey Mrs E Nunn - resigned 16th September 2020 Mrs K Wheeler Rev P Challen Mrs A Barker - resigned 19 February 2020 Mrs K Campbell - appointed 21st October 2020, resigned 20th January 2021 Mrs C Peckham - appointed 16th September 2020, resigned 17th February 2021 Mrs D McCarthy - appointed 16th September 2020 Mr S Holt - appointed 16th September 2020 Mrs J Lees - appointed 18th November 2020 Mr J Lynch - appointed 18th November 2020

Independent Examiner

DNG Dove Naish LLP Chartered Accountants Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Clerk to the Trustees

K Watkins

Bankers

CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Approved by order of the board of trustees on 21[st] June 2021 and signed on its behalf by:

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPONNE & BICKERSTAFFE CHARITY

Independent examiner's report to the trustees of Sponne & Bickerstaffe Charity

I report to the charity trustees on my examination of the accounts of Sponne & Bickerstaffe Charity (the Trust) for the year ended 31 December 2020.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our independent examination work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our independent examination work, for this report, or for the opinions we have formed.

Nicola Fox FCA DNG Dove Naish LLP Chartered Accountants Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Date: 12 July 2021

Page 6

SPONNE & BICKERSTAFFE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted
fund
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
-
Charitable activities
4
Residents housing
-
Investment income
3
-
Total
-
EXPENDITURE ON
Charitable activities
5
Residents housing
-
Relief in Need
-
Total
-
Net gains on investments
-
NET INCOME
-
Transfers between funds
16
-
Net movement in funds
-
RECONCILIATION OF
FUNDS
Total funds brought
forward
-
TOTAL FUNDS CARRIED
FORWARD
-		 Almshouse
Branch
£
428
96,771
7,084
104,283
105,219
-
105,219
12,693
11,757
(2,928)
8,829
702,509
711,338		 Relief in
Need
Branch
£
-
-
1,615
1,615
-
4,543
4,543
3,372
444
2,928
3,372
52,726
56,098		 2020
Total
funds
£
428
96,771
8,699
105,898
105,219
4,543
109,762
16,065
12,201
-
12,201
755,235
767,436		 2019
Total
funds
£
125
81,042
9,010
90,177
98,219
4,900
103,119
36,065
23,123
-
23,123
732,112
755,235

The notes form part of these financial statements

Page 7

SPONNE & BICKERSTAFFE CHARITY

BALANCE SHEET 31 DECEMBER 2020

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
11
-
Investments
Investments
12
-
Investment property
13
-
-
CURRENT ASSETS
Debtors
14
-
Cash at bank and in hand
-
-
CREDITORS
Amounts falling due within
one year
15
-
NET CURRENT ASSETS
-
TOTAL ASSETS LESS
CURRENT LIABILITIES
-
NET ASSETS
-
FUNDS
16
Restricted funds
TOTAL FUNDS		 Almshouse
Branch
£
332,176
229,001
90,000
651,177
1,255
62,467
63,722
(3,561)
60,161
711,338
711,338		 Relief in
Need
Branch
£
-
56,098
-
56,098
-
-
-
-
-
56,098
56,098		 2020
Total
funds
£
332,176
285,099
90,000
707,275
1,255
62,467
63,722
(3,561)
60,161
767,436
767,436
767,436
767,436		 2019
Total
funds
£
336,673
269,034
90,000
695,707
8,672
53,888
62,560
(3,032)
59,528
755,235
755,235
755,235
755,235

The financial statements were approved by the Board of Trustees and authorised for issue on 21[st] June 2021 and were signed on its behalf by:

The notes form part of these financial statements

Page 8

SPONNE & BICKERSTAFFE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£).

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Almshouse - 1% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Furniture - 10% on cost
Office equipment - 10% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value are recognised through the statement of financial activities.

Page 9

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES - continued

Investment property

Talbot Meadow and Farthingstone Farm (investment properties) have been included in the financial statements at fair value. This valuation was produced by Berry Morris Chartered Surveyors in January 2009. The trustees are not aware of any material changes since the last valuation.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the statement of financial activities. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2020 2019
£ £
Donations 428 125

Page 10

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

3. INVESTMENT INCOME

Dividends & bank interest received
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Contribution
Residents housing
Rates
Residents housing
Heat and light
Residents housing
Laundry income
Residents housing
Grants
Residents housing
Grants received, included in the above, are as follows:
South Northants District Council
Towcester Town Council
Grand Union Housing		 2020
£
8,699
2020
£
62,782
2,359
8,228
1,410
21,992
96,771
2020
£
21,622
-
370
21,992		 2019
£
9,010
2019
£
60,658
2,297
9,325
1,516
7,246
81,042
2019
£
6,246
1,000
-
7,246

Included in the grants received from South Northants District Council are 3 separate bids that were won and received in the year, as follows:

5. CHARITABLE ACTIVITIES COSTS

Residents housing
Relief in Need		 Direct
Costs (see
note 6)
£
102,060
4,543
106,603		 Support
costs (see
note 7)
£
3,159
-
3,159		 Totals
£
105,219
4,543
109,762

Page 11

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

6. DIRECT COSTS OF CHARITABLE ACTIVITIES

2020
£
Staff costs
31,746
Rates and water
2,458
Insurance
1,982
Light and heat
11,885
Telephone
1,382
Staff training and recruitment
-
Property repairs & maintenance
34,810
Cleaning
688
Garden materials & equipment
254
Gardener time & materials
3,972
Other garden contractor work
1,650
Travel and entertainment
1,206
Relief in Need expenses
4,543
NAAH subscription
466
Appello costs
501
Legionella measures
2,138
Covid-19
928
Depreciation
5,994
106,603
7.
SUPPORT COSTS
Governance
Management
costs
£
£
Residents housing
1,371
1,788
Support costs, included in the above, are as follows:
2020
Residents
housing
£
IT costs
274
Postage and stationery
208
General office expenses
869
Sundries
20
Independent Examiners fees -
independent examination
560
Independent Examiners fee -
accountancy fees
1,228
3,159		 2019
£
29,589
2,393
1,993
16,758
1,389
750
28,446
1,055
189
2,756
2,674
609
4,900
-
486
-
-
5,958
99,945
Totals
£
3,159
2019
Total
activities
£
-
406
399
233
550
1,586
3,174

Page 12

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Residents warden
Administration
Clerk
Handyman		 2020
£
30,963
783
31,746

2020
1
1
1
1
4		 2019
£
28,823
766
29,589
2019
1
1
1
1
4

No employees received emoluments in excess of £60,000.

Key management personnel remuneration totalled £26,859. This includes the Warden and Clerk to the Trustees.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
Charitable activities
Residents housing
-
Investment income
-
Total
-
EXPENDITURE ON
Charitable activities
Residents housing
-
Relief in Need
-
Total
-		 Almshouse
Branch
£
125
81,042
7,427
88,594
98,219
-
98,219		 Relief in
Need
Branch
£
-
-
1,583
1,583
-
4,900
4,900		 Total
funds
£
125
81,042
9,010
90,177
98,219
4,900
103,119

Page 13

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
fund
£
Net gains on investments
-
NET INCOME
-
Transfers between funds
-
Net movement in funds
-
RECONCILIATION OF FUNDS
Total funds brought forward
-
TOTAL FUNDS CARRIED FORWARD
-
11.
TANGIBLE FIXED ASSETS
COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Almshouse
Branch
£
28,067
18,442
(3,317)
15,125
687,384
702,509
Almshouse
£
510,618
-
510,618
176,464
5,107
181,571
329,047
334,154		 Relief in
Need
Branch
£
7,998
4,681
3,317
7,998
44,728
52,726
Plant and
machinery
£
3,276
-
3,276
3,188
50
3,238
38
88		 Total
funds
£
36,065
23,123
-
23,123
732,112
755,235
Fixtures
and
fittings
£
23,446
255
23,701
22,112
425
22,537
1,164
1,334

Page 14

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

11. TANGIBLE FIXED ASSETS - continued

COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
12.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2020
Revaluations
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019
There were no investment assets outside the UK.
13.
INVESTMENT PROPERTY
FAIR VALUE
At 1 January 2020
and 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Furniture
£
19,379
442
19,821
18,448
376
18,824
997
931		 Office
equipment
Totals
£
£
2,546
559,265
800
1,497
3,346
560,762
2,380
222,592
36
5,994
2,416
228,586
930
332,176
166
336,673
Listed
investments
£
269,034
16,065
285,099
285,099
269,034
£
90,000
90,000
90,000

Talbot Meadow and Farthingstone Farm (investment properties) have been included in the financial statements at fair value. This valuation was produced by Berry Morris Chartered Surveyors in January 2009. The trustees are not aware of any material changes since the last valuation.

Page 15

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Prepayments and accrued income
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
16.
MOVEMENT IN FUNDS
Net
movement
At 1/1/20
in funds
£
£
Restricted funds
Almshouse Fund
589,705
5,866
Relief in Need Fund
52,726
444
Extraordinary Repair Fund
86,773
11,751
Chantry Church of St Lawrence
1,593
135
Cyclical Maintenance Fund
23,727
-
Quinquennial
711
(5,995)
755,235
12,201
TOTAL FUNDS
755,235
12,201		 2020
£
285
970
1,255
2020
£
403
3,158
3,561
Transfers
between
funds
£
(8,212)
2,928
-
-
-
5,284
-
-		 2019
£
254
8,418
8,672
2019
£
380
2,652
3,032
At
31/12/20
£
587,359
56,098
98,524
1,728
23,727
-
767,436
767,436

Net movement in funds, included in the above are as follows:

Restricted funds
Almshouse Fund
Relief in Need Fund
Extraordinary Repair Fund
Chantry Church of St Lawrence
Quinquennial
TOTAL FUNDS		 Incoming
resources
£
78,401
1,615
3,890
-
21,992
105,898
105,898		 Resources
expended
£
(77,232)
(4,543)
-
-
(27,987)
(109,762)
(109,762)		 Gains and
Movement
losses
in funds
£
£
4,697
5,866
3,372
444
7,861
11,751
135
135
-
(5,995)
16,065
12,201
16,065
12,201

Page 16

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Restricted funds
Almshouse Fund
Relief in Need Fund
Extraordinary Repair Fund
Chantry Church of St Lawrence
Cyclical Maintenance Fund
Quinquennial
TOTAL FUNDS		 At 1/1/19
£
597,537
44,728
64,781
1,339
23,727
-
732,112
732,112		 Net
movement
in funds
£
598
4,681
21,992
254
-
(4,402)
23,123
23,123		 Transfers
between
funds
£
(8,430)
3,317
-
-
-
5,113
-
-		 At
31/12/19
£
589,705
52,726
86,773
1,593
23,727
711
755,235
755,235

Comparative net movement in funds, included in the above are as follows:

Restricted funds
Almshouse Fund
Relief in Need Fund
Extraordinary Repair Fund
Chantry Church of St Lawrence
Quinquennial
TOTAL FUNDS		 Incoming
resources
£
77,530
1,583
3,818
-
7,246
90,177
90,177		 Resources
expended
£
(86,571)
(4,900)
-
-
(11,648)
(103,119)
(103,119)		 Gains and
Movement
losses
in funds
£
£
9,639
598
7,998
4,681
18,174
21,992
254
254
-
(4,402)
36,065
23,123
36,065
23,123

The Extraordinary Repair Fund was set up for the purpose of providing for the extraordinary repair, improvement or rebuilding of the Almshouses as and when it is needed.

The Relief in Need Fund was set up to relieve either generally or individually, persons resident in the Parish of Towcester who are in conditions of need, hardship or distress.

The Chantry Church of St Lawrence, Towcester Fund was set up in 1982 for the purpose of the repair and renewal of the Chantry Church's books and ornaments.

The Almshouse fund was set up in 1982 to enable the Trustees to manage and let all the lands belonging to the Almshouse Branch.

The Cyclical Maintenance Fund was set up to for the purpose of providing for those items of ordinary maintenance and repair of the Almshouses which occur at infrequent intervals. The fund is maintained out of income of the Almshouse Fund and is set aside yearly.

The Quinquennial Fund is to cover repairs and refurbishment at Moor Field, as a result of the third party Quinquennial Report carried out in 2018.

Page 17

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020

16. MOVEMENT IN FUNDS - continued

Transfers between funds

The Cyclical Maintenance Fund is maintained out of income of the Almshouse Fund, by annual transfers.

An annual transfer is done for the excess of expenditure over income received for the year, into the Relief in Need Fund from the Almshouse Fund to maintain the Relief in Need Fund at the set amount invested in that fund.

A transfer has been made into the Quinquennial Fund from the Almhouse Fund that covers the expenditure made as a result of the Quinquennial report carried out in 2018. The amount transfered is the amount spent that exceeds the grants received into the fund for the works carried out this year.

17. RELATED PARTY DISCLOSURES

During the year services amounting to £109 (2019: £465) were paid County Locksmiths, a company owned by Mr Caseman-Jones the husband of one of the Trustees G Caseman-Jones. All services supplied were authorised by the trustees and carried out under normal arms length market conditions.

There were no further related party transactions for the year ended 31 December 2020, nor the year ended 31 December 2019.

Page 18

SPONNE & BICKERSTAFFE CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Dividends & bank interest received
Charitable activities
Contribution
Rates
Heat and light
Laundry income
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Rates and water
Insurance
Light and heat
Telephone
Staff training and recruitment
Property repairs & maintenance
Cleaning
Garden materials & equipment
Gardener time & materials
Other garden contractor work
Travel and entertainment
Relief in Need expenses
NAAH subscription
Appello costs
Legionella measures
Covid-19
Depreciation of tangible fixed assets
Support costs
Management
IT costs
Postage and stationery
Carried forward		 2020
£
428
8,699
62,782
2,359
8,228
1,410
21,992
96,771
105,898
30,963
783
2,458
1,982
11,885
1,382
-
34,810
688
254
3,972
1,650
1,206
4,543
466
501
2,138
928
5,994
106,603
274
208
482		 2019
£
125
9,010
60,658
2,297
9,325
1,516
7,246
81,042
90,177
28,823
766
2,393
1,993
16,758
1,389
750
28,446
1,055
189
2,756
2,674
609
4,900
-
486
-
-
5,958
99,945
-
406
406

This page does not form part of the statutory financial statements

Page 19

SPONNE & BICKERSTAFFE CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Management
Brought forward
General office expenses
Sundries
Governance costs
Independent Examiners fees - independent
examination
Independent Examiners fee - accountancy
fees
Total resources expended
Net expenditure before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net income		 2020
£
482
869
20
1,371
560
1,228
1,788
109,762
(3,864)
16,065
12,201		 2019
£
406
399
233
1,038
550
1,586
2,136
103,119
(12,942)
36,065
23,123

This page does not form part of the statutory financial statements

Page 20