REGISTERED CHARITY NUMBER: 204117
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
SPONNE & BICKERSTAFFE CHARITY
SPONNE & BICKERSTAFFE CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| 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 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 2021
ACHIEVEMENT AND PERFORMANCE Chairman's Report
This year was the second one made particularly challenging by the need to respond to the Covid 19 pandemic. This meant us needing to balance keeping all at Moorfield safe by compliance with constantly changing requirements, whilst trying to maintain as much normal activity as possible, when allowed, for the benefit of everyone's wellbeing.
As usual the year started off by a meeting of the Finance Committee, chaired by Dr Stephen Burnley and proposed a budget for the year. As always, we are incredibly grateful to Stephen for all his hard work and commitment to the finances at Moorfield over many years. We were pleased that Donna McCarthy was able to begin assisting Stephen with some of the financial activities.
We recognise that Stephen would now like to reduce his involvement in the finances to allow him to concentrate on the Green Energy project. He made a successful application for an RCEF feasibility grant early in the year and this was followed up by a survey by Ricardo later in the summer. Their draft report is currently being finalised. The installation of a Green but effective heating system to ensure our residents can stay warm is a major priority for the Charity.
The Covid Response/Recovery Group continued to meet remotely and communicate via WhatsApp during the first half of the year. We are very grateful for Gail Caseman-Jones expertise in Emergency planning which allowed her excellent chairing of that group and to all the Feoffees that contributed their own expertise and took on the additional commitment of participation in it.
The search for a builder able to undertake the replacement of the Lodge windows proved very difficult and protracted and we are very grateful to Steve Holt for pursuing this throughout the year. We hope this project can now be undertaken in 2022.
Easing of Lockdown requirements allowed the completion of the final two bathrooms upgrades at No 2 in April and No 5 in June. This work highlighted the poor condition of the water tanks previously identified in the Legionella risk assessment. The decision was therefore taken to complete the water system replacements at all bungalows except 5 where a bath was being retained so the tank there was cleaned and disinfected. This work was completed in the summer.
On 15 April Feoffees attended the Annual Founders Day Service and we are grateful to Rev Paula Challen for making this work so well under the Covid restrictions in place at the time. A limited number of Feoffees had a Fish and Chip supper in the garden afterwards. Whilst enjoyable, I am sure we all hope to return to the traditional dinner at Moorfield in 2022.
In May the gas central heating was installed into the Lodge with the benefit of a grant which was a very cost-effective solution for the Charity.
During the Spring the Charity finally achieved going cashless. This was very beneficial due to the expense and difficulties of handling cash; exacerbated by the closing of bank branches in Towcester in recent years.
We also reviewed and simplified the four-week Warden rota system. This was found to be unnecessarily complicated, and the changes made significantly reduced the complexity of a monthly task for the Warden and the result was clearer for all staff and residents.
Feoffees were pleased to be allowed to resume meeting in person back at Moorfield in July, and plans had been made for an 'out of lockdown party' for everyone. Unfortunately, the emergence of new Delta variant prevented this from going ahead at that time when social gatherings were again discouraged.
In July our Deputy Warden had planned surgery from which she initially recovered well. Regrettably, this did not continue as further health problems came to light and she was unable to return to work, and sadly died at the end of the year. Jane was a very valued employee and an important part of Moorfield for thirty years; much loved by residents, staff and Feoffees. Plans to recognise her long-standing, valuable contribution will go ahead in the coming year.
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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
Bungalow inspections were undertaken by the Chair and Vice-Chair in August and again highlighted the high priority of a more effective and affordable heating system. As twice-yearly residents' meetings had been prevented by the Pandemic, we also used the opportunity to discuss a number of issues with them.
In October inspections of the Charity's two pieces of land went ahead. Talbot Meadow was being well managed by Mr Barrett and the land at Farthingstone, farmed by Mr Tate was being looked after.
Significant electricity price rises throughout the year have proved to be very challenging and painful to both the Charity and our residents. In October the Feoffees decided to assist the residents through the winter months by cushioning the difference between the capped domestic tariff and the business rate paid by the Charity for the site. This is not sustainable in the long term and a more permanent solution is an important priority for the Charity.
In October it was decided to trial not replacing the Deputy warden and for more use to be made of Appello and for Feoffees to provide some cover for the Warden's absences. This would be kept under review.
An important role of the Charity is to provide relief in need to residents of Towcester who are struggling. This year we helped 7 families, and some were also helped by the Combined Charities. We recognised that the Pandemic and rising inflation has made this a particularly difficult year for those in need.
We are very grateful to the Wakefield estate for supplying a Christmas tree and to Alan Gilbert for installing it and the outside lights that are so appreciated by the residents. We had planned to hold a Christmas party inside after Carols around the tree kindly arranged by Rev. Paula with support of the church choir. The emergence of the Omicron variant again prevented the indoor party, but we enjoyed the Carols and served Mulled wine and warm refreshments outside instead, and this was well received.
We ended the year by distributing Christmas vouchers to our residents and other residents of Towcester who are in need.
I would like to conclude this report by saying a big Thank you to all the staff at Moorfield and my fellow Feoffees, for all their hard work and support throughout this very challenging year.
Carol Blake Chair
FINANCIAL REVIEW
Financial position
At the year end the total reserves of the charity are £794,058 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 £63,687. 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 2021 was £1,250,000 compared with a balance sheet value of £323,940.
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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
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
Trustees
Mr P Allen Mrs C Blake - Chairman Mr S Burnley Mrs G Cabmen-Jones Mr A Gilbert Mrs J Hart Mr I Massey Mrs K Wheeler Rev P Challen Mrs K Campbell - resigned 20th January 2021 Mrs C Peckham - resigned 17th February 2021 Mrs D McCarthy Mr S Holt Mrs J Lees Mr J Lynch
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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS 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
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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 2021.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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: 26 May 2022
Page 6
SPONNE & BICKERSTAFFE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 - Charitable activities 4 Residents housing - Investment income 3 - Other income - 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 £ - 95,881 6,754 674 103,309 105,850 - 105,850 23,658 21,117 (2,351) 18,766 711,338 730,104 |
Relief in Need Branch £ - - 1,647 - 1,647 - 3,998 3,998 7,856 5,505 2,351 7,856 56,098 63,954 |
2021 Total funds £ - 95,881 8,401 674 104,956 105,850 3,998 109,848 31,514 26,622 - 26,622 767,436 794,058 |
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 |
|---|---|---|---|---|
The notes form part of these financial statements
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SPONNE & BICKERSTAFFE CHARITY
BALANCE SHEET 31 DECEMBER 2021
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Relief in | ||||||
| Unrestricted | Almshouse | Need | Total | Total | ||
| fund | Branch | Branch | funds | funds | ||
| Notes | Notes £ |
£ | £ | £ | £ | |
| FIXED ASSETS | ||||||
| Tangible assets | 11 | - | 327,114 | - | 327,114 | 332,176 |
| Investments | ||||||
| Investments | 12 | - | 252,659 | 63,954 | 316,613 | 285,099 |
| Investment property | 13 | - | 90,000 | - | 90,000 | 90,000 |
| - | 669,773 | 63,954 | 733,727 | 707,275 | ||
| CURRENT ASSETS | ||||||
| Debtors | 14 | - | 1,251 | - | 1,251 | 1,255 |
| Cash at bank and in hand | - | 63,687 | - | 63,687 | 62,467 | |
| - | 64,938 | - | 64,938 | 63,722 | ||
| CREDITORS | ||||||
| Amounts falling due within | ||||||
| one year | 15 | - | (4,607) | - | (4,607) | (3,561) |
| NET CURRENT ASSETS | - | 60,331 | - | 60,331 | 60,161 | |
| TOTAL ASSETS LESS | ||||||
| CURRENT LIABILITIES | - | 730,104 | 63,954 | 794,058 | 767,436 | |
| NET ASSETS | - | 730,104 | 63,954 | 794,058 | 767,436 | |
| FUNDS | 16 | |||||
| Restricted funds | 794,058 | 767,436 | ||||
| TOTAL FUNDS | 794,058 | 767,436 |
The notes form part of these financial statements
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SPONNE & BICKERSTAFFE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 (£).
Going concern
The financial statements have been prepared using the going concern basis as no material uncertainties exist in relation to the charity being a going concern.
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.
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES - continued
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.
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.
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
| 2. DONATIONS AND LEGACIES Donations 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 Grand Union Housing Rural Community Energy Fund Northants Warm Homes 5. CHARITABLE ACTIVITIES COSTS Residents housing Relief in Need |
Direct Costs (see note 6) £ 102,488 3,998 106,486 |
2021 £ - 2021 £ 8,401 2021 £ 65,007 2,424 10,365 1,635 16,450 95,881 2021 £ 1,371 - 9,079 6,000 16,450 Support costs (see note 7) £ 3,362 - 3,362 |
2020 £ 428 2020 £ 8,699 2020 £ 62,782 2,359 8,228 1,410 21,992 96,771 2020 £ 21,622 370 - - 21,992 Totals £ 105,850 3,998 109,848 |
|---|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
| 2021 £ Staff costs 29,941 Rates and water 1,985 Insurance 1,968 Light and heat 18,457 Telephone 624 Property repairs & maintenance 36,609 Cleaning 854 Garden materials & equipment 266 Gardener time & materials 3,243 Other garden contractor work 1,485 Travel and entertainment 617 Relief in Need expenses 3,998 NAAH subscription - Appello costs 508 Legionella measures - Covid-19 146 Depreciation 5,785 106,486 7. SUPPORT COSTS Governance Management costs £ £ Residents housing 1,634 1,728 Support costs, included in the above, are as follows: 2021 Residents housing £ IT costs - Postage and stationery 719 General office expenses 744 Sundries 171 Independent Examiners fees - independent examination 577 Independent Examiners fee - accountancy fees 1,151 3,362 |
2020 £ 31,746 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 Totals £ 3,362 2020 Total activities £ 274 208 869 20 560 1,228 3,159 |
|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
Expenses for travel reimbursement amounting to £22 was paid to one Trustee (£nil paid 2020).
9. STAFF COSTS
| Wages and salaries Other pension costs |
2021 £ 29,226 715 29,941 |
2020 £ 30,963 783 |
|---|---|---|
| 31,746 |
The average monthly number of employees during the year was as follows:
| Residents warden Administration Clerk Handyman |
2021 1 1 1 1 4 |
2020 1 1 1 1 4 |
|---|---|---|
No employees received emoluments in excess of £60,000.
Key management personnel remuneration totalled £24,546. 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 - |
Almshouse Branch £ 428 96,771 7,084 104,283 105,219 - |
Relief in Need Branch £ - - 1,615 1,615 - 4,543 |
Total funds £ 428 96,771 8,699 105,898 105,219 4,543 |
|---|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted fund £ Total - 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 2021 Additions At 31 December 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Almshouse Branch £ 105,219 12,693 11,757 (2,928) 8,829 702,509 711,338 Almshouse £ 510,618 - 510,618 181,571 5,107 186,678 323,940 329,047 |
Relief in Need Branch £ 4,543 3,372 444 2,928 3,372 52,726 56,098 Plant and machinery £ 3,276 - 3,276 3,238 32 3,270 6 38 |
Total funds £ 109,762 16,065 12,201 - 12,201 755,235 767,436 Fixtures and fittings £ 23,701 431 24,132 22,537 468 23,005 1,127 1,164 |
|
|---|---|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
11. TANGIBLE FIXED ASSETS - continued
| COST At 1 January 2021 Additions At 31 December 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 12. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2021 Revaluations At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 There were no investment assets outside the UK. 13. INVESTMENT PROPERTY FAIR VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Furniture £ 19,821 - 19,821 18,824 33 18,857 964 997 |
Office equipment Totals £ £ 3,346 560,762 292 723 3,638 561,485 2,416 228,586 145 5,785 2,561 234,371 1,077 327,114 930 332,176 Listed investments £ 285,099 31,514 316,613 316,613 285,099 £ 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.
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
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 1/1/21 in funds £ £ Restricted funds Almshouse Fund 587,359 2,365 Relief in Need Fund 56,098 5,505 Extraordinary Repair Fund 98,524 20,895 Chantry Church of St Lawrence 1,728 267 Cyclical Maintenance Fund 23,727 - Quinquennial - (2,410) 767,436 26,622 TOTAL FUNDS 767,436 26,622 |
2021 £ 252 999 1,251 2021 £ 410 4,197 4,607 Transfers between funds £ (4,761) 2,351 - - - 2,410 - - |
2020 £ 285 970 1,255 2020 £ 403 3,158 3,561 At 31/12/21 £ 584,963 63,954 119,419 1,995 23,727 - 794,058 794,058 |
|---|---|---|
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 Green Energy Project TOTAL FUNDS |
Incoming resources £ 88,940 1,647 3,920 - 1,370 9,079 104,956 104,956 |
Resources expended £ (92,991) (3,998) - - (3,780) (9,079) (109,848) (109,848) |
Gains and Movement losses in funds £ £ 6,416 2,365 7,856 5,505 16,975 20,895 267 267 - (2,410) - - 31,514 26,622 31,514 26,622 |
|---|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
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 1/1/20 £ 589,705 52,726 86,773 1,593 23,727 711 755,235 755,235 |
Net movement in funds £ 5,866 444 11,751 135 - (5,995) 12,201 12,201 |
Transfers between funds £ (8,212) 2,928 - - - 5,284 - - |
At 31/12/20 £ 587,359 56,098 98,524 1,728 23,727 - 767,436 767,436 |
|---|---|---|---|---|
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 £ 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 |
|---|---|---|---|
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.
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SPONNE & BICKERSTAFFE CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
16. MOVEMENT IN FUNDS - continued
The Green Energy Project includes funds received from Greater South East Energy Hub, under the Rural Community Energy Fund. These funds paid for a Green Energy feasibility study.
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 £205 (2020: £109) 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 2021, nor the year ended 31 December 2020.
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SPONNE & BICKERSTAFFE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Dividends & bank interest received Charitable activities Contribution Rates Heat and light Laundry income Grants Other income Insurance income Total incoming resources EXPENDITURE Charitable activities Wages Pensions Rates and water Insurance Light and heat Telephone 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 Carried forward |
2021 £ - 8,401 65,007 2,424 10,365 1,635 16,450 95,881 674 104,956 29,226 715 1,985 1,968 18,457 624 36,609 854 266 3,243 1,485 617 3,998 - 508 - 146 5,785 106,486 - - |
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 5,994 106,603 274 274 |
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This page does not form part of the statutory financial statements
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SPONNE & BICKERSTAFFE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| Management Brought forward Postage and stationery 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 |
2021 £ - 719 744 171 1,634 577 1,151 1,728 109,848 (4,892) 31,514 26,622 |
2020 £ 274 208 869 20 1,371 560 1,228 1,788 109,762 (3,864) 16,065 12,201 |
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This page does not form part of the statutory financial statements
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