REGISTERED CHARITY NUMBER: 204117
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
FOR
SPONNE & BICKERSTAFFE CHARITY
SPONNE & BICKERSTAFFE CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| 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 2022
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. 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
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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
ACHIEVEMENT AND PERFORMANCE Chairman's Report
The year commenced with the meeting of the finance committee Chaired by Stephen. The committee reviewed the charities finances and set the following years budget. The year also started with the commencement of the external groups coming back to Moorfield after such a long absence due to the pandemic.
The feoffees continued to cover for the warden when she was on holidays. It is evident the residents missed our deputy warden Jane. We continued to work on our legionella risk assessment targets which meant looking at our communal areas, changing to a direct source water supply.
The work continued in reviewing the heating at Moorfield. We undertook to apply for a stage two grant to continue the work. The annual staff appraisals were completed. The Clerks appraisal culminated in the agreement she would work from home where possible to assist in completing the high volume of paperwork with less distractions.
On April 19th we enjoyed our annual Founders Day service at St Laurence Church followed by the Founders day supper. Our existing Treasurer stepped down and agreed to support our new treasurer Alan who agreed to take over. We all deeply appreciate the hard work Stephen has contributed to the charity over the years as treasurer. We also thank Alan for taking on such a demanding and essential role within the Charity.
Jubilee celebrations were held at Moorfield for Residents, their families and feoffees. We had a BBQ, music, games and planted a Jubilee rose.
On 14th May we all came together to celebrate and remember Jane our Warden. Revd Paula presided over the blessing and planting of a tree in Jane's memory.
The annual Alms house Association Day was attended by two feoffees and the Clerk. The day was informative and enjoyable. At the end of May, the long awaited replacement bay window in the Lodge commenced.
The year has not been without great sadness, a much loved resident who had lived at Moorfield for many years passed away. This is always very upsetting and leaves a gap in the daily life of Moorfield.
In June we welcomed Cllr Chris as a new feoffee, who brings a wealth experience from the commercial world and has been instrumental in moving the heating review project forward.
Over the summer months the charity received donations from Towcester Freemasons and a TV for the communal room. The money will go towards refurbishing the communal area soft furnishings.
In September we welcomed Alex a new feoffee to the charity. Alex is very experienced in charitable work and I am sure will be a great asset. We also saw a new addition in September of a deputy warden. I would like to thank those feoffees who volunteered to cover visits. However it was decided to employ a deputy warden. I am pleased to say Jean has settled in very well.
This year has been very difficult financially due to the cost of living crisis and increased inflation. Moorfield residents have felt this most keenly as they did not receive the government support for fuel payments. The residents rallied round and lobbied their local MP and also contacted our local TV news. The residents raised their concerns on regional TV. The feoffees also contacted our local MP.
We continued throughout 2022 to work on our heating review. This was mainly through a government grant which enabled the charity to commission a heating review, recommendations for improved green heating and support in the tendering process. After many months of working with the heating review specialist we decided to move forward with Solar panels at Moorfield. A tender document was prepared and circulated to solar panel specialists.
In November we were pleased to welcome a new resident to Moorfield. The resident has settled in well to life at Moorfield and is attending our social events.
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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
For the 2022 Relief in Need we met requests from 7 families and also supported 72 families with Christmas Vouchers. The residents and feoffees Christmas party was held on 21st December and it was very well attended. We enjoyed a lovely buffet, drinks and Christmas Carols lead by Revd Paula. The Christmas lights were all around and a beautiful Christmas tree stood in the centre of our garden. This rounded off 2022, with the charity looking forward to 2023.
Gail Caseman-Jones Chair of the feoffees
FINANCIAL REVIEW
Financial position
At the year end the total reserves of the charity are £741,376 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 £50,602. 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 the year end was £1,250,000 compared with a balance sheet value of £318,833.
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.
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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT 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 Mr S Burnley Mrs G Casmen-Jones - Chair of the Feoffees Mr A Gilbert Mrs J Hart Mr I Massey Mrs K Wheeler Rev P Challen Mrs D McCarthy - resigned 20/04/2022 Mr S Holt Mrs J Lees Mr J Lynch Cllr C Wright - appointed 15/06/2022 Mr A Lohman - appointed 21/09/2022
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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SPONNE & BICKERSTAFFE CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Approved by order of the board of trustees on 26th April 2023 and signed on its behalf by:
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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 2022.
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
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the accounts do not accord with those records; or
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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: 8 June 2023
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SPONNE & BICKERSTAFFE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 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/(losses) on investments - NET INCOME/(EXPENDITURE) - Transfers between funds 16 - Net movement in funds - RECONCILIATION OF FUNDS Total funds brought forward - TOTAL FUNDS CARRIED FORWARD - |
Almshouse Branch £ 2,435 103,704 6,751 - 112,890 125,450 - 125,450 (29,318) (41,878) (3,457) (45,335) 730,104 684,769 |
Relief in Need Branch £ 60 - 1,689 - 1,749 - 5,206 5,206 (7,347) (10,804) 3,457 (7,347) 63,954 56,607 |
2022 Total funds £ 2,495 103,704 8,440 - 114,639 125,450 5,206 130,656 (36,665) (52,682) - (52,682) 794,058 741,376 |
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 |
|---|---|---|---|---|
The notes form part of these financial statements
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SPONNE & BICKERSTAFFE CHARITY
BALANCE SHEET 31 DECEMBER 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 11 - Investments Investments 12 - Investment property 13 - - CURRENT ASSETS Debtors 14 - Cash at bank - - 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 £ 321,377 223,340 90,000 634,717 3,740 50,602 54,342 (4,290) 50,052 684,769 684,769 |
Relief in Need Branch £ - 56,607 - 56,607 - - - - - 56,607 56,607 |
2022 Total funds £ 321,377 279,947 90,000 691,324 3,740 50,602 54,342 (4,290) 50,052 741,376 741,376 741,376 741,376 |
2021 Total funds £ 327,114 316,613 90,000 733,727 1,251 63,687 64,938 (4,607) 60,331 794,058 794,058 794,058 794,058 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 April 2023 and were signed on its behalf by:
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 2022
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 2022
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 2022
| 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 Rural Community Energy Fund Northants Warm Homes 5. CHARITABLE ACTIVITIES COSTS Residents housing Relief in Need |
Direct Costs (see note 6) £ 122,148 5,206 127,354 |
2022 £ 2,495 2022 £ 8,440 2022 £ 65,247 2,392 13,795 1,408 20,862 103,704 2022 £ - 20,862 - 20,862 Support costs (see note 7) £ 3,302 - 3,302 |
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
| 2022 £ Staff costs 27,829 Rates and water 2,873 Insurance 2,034 Light and heat 22,079 Telephone 1,068 Property repairs & maintenance 51,252 Cleaning 1,165 Garden materials & equipment 27 Gardener time & materials 4,008 Other garden contractor work 2,714 Travel and entertainment 602 Relief in Need expenses 5,206 NAAH subscription 242 Appello costs 508 Covid-19 10 Depreciation 5,737 127,354 7. SUPPORT COSTS Governance Management costs £ £ Residents housing 1,652 1,650 Support costs, included in the above, are as follows: 2022 Residents housing £ Postage and stationery 696 General office expenses 528 Sundries 428 Independent Examiners fees - independent examination 550 Independent Examiners fee - accountancy fees 1,100 3,302 |
2021 £ 29,941 1,985 1,968 18,457 624 36,609 854 266 3,243 1,485 617 3,998 - 508 146 5,785 106,486 Totals £ 3,302 2021 Total activities £ 719 744 171 577 1,151 3,362 |
|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustees' expenses
£64 of expenses for travel reimbursement were paid to one Trustee in the financial year (£22 paid in 2021 to one Trustee).
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 |
2022 £ 27,091 738 27,829 2022 1 1 1 1 4 |
2021 £ 29,226 715 29,941 2021 1 1 1 1 4 |
|---|---|---|
No employees received emoluments in excess of £60,000.
Key management personnel remuneration totalled £25,358. This includes the Warden and Clerk to the Trustees.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Residents housing - Investment income - Other income - Total - EXPENDITURE ON Charitable activities Residents housing - Relief in Need - Total - |
Almshouse Branch £ 95,881 6,754 674 103,309 105,850 - 105,850 |
Relief in Need Branch £ - 1,647 - 1,647 - 3,998 3,998 |
Total funds £ 95,881 8,401 674 104,956 105,850 3,998 109,848 |
|---|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL 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 2022 and 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 COST At 1 January 2022 and 31 December 2022 DEPRECIATION At 1 January 2022 Charge for year At 31 December 2022 NET BOOK VALUE At 31 December 2022 At 31 December 2021 |
ACTIVITIES - continued Relief in Almshouse Need Branch Branch £ £ 23,658 7,856 21,117 5,505 (2,351) 2,351 18,766 7,856 711,338 56,098 730,104 63,954 Plant and Almshouse machinery £ £ 510,618 3,276 186,678 3,270 5,107 6 191,785 3,276 318,833 - 323,940 6 Office Furniture equipment £ £ 19,821 3,638 18,857 2,561 33 145 18,890 2,706 931 932 964 1,077 |
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
12. FIXED ASSET INVESTMENTS
| 12. | FIXED ASSET INVESTMENTS | |
|---|---|---|
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 January 2022 | 316,613 | |
| Revaluations | (36,666) | |
| At 31 December 2022 | 279,947 | |
| NET BOOK VALUE | ||
| At 31 December 2022 | 279,947 | |
| At 31 December 2021 | 316,613 | |
| There were no investment assets outside the UK. | ||
| 13. | INVESTMENT PROPERTY | |
| £ | ||
| FAIR VALUE | ||
| At 1 January 2022 | ||
| and 31 December 2022 | 90,000 | |
| NET BOOK VALUE | ||
| At 31 December 2022 | 90,000 | |
| At 31 December 2021 | 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.
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors Prepayments and accrued income |
2022 £ 741 2,999 3,740 |
2021 £ 252 999 1,251 |
|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Accruals and deferred income |
2022 £ 622 3,668 4,290 |
2021 £ 410 4,197 4,607 |
|---|---|---|
16. MOVEMENT IN FUNDS
| Restricted funds Almshouse Fund Relief in Need Fund Extraordinary Repair Fund Chantry Church of St Lawrence Cyclical Maintenance Fund TOTAL FUNDS |
At 1/1/22 £ 584,963 63,954 119,419 1,995 23,727 794,058 794,058 |
Net movement in funds £ (28,272) (10,804) (13,539) (161) 94 (52,682) (52,682) |
Transfers between funds £ (9,457) 3,457 6,000 - - - - |
At 31/12/22 £ 547,234 56,607 111,880 1,834 23,821 741,376 741,376 |
|---|---|---|---|---|
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 Cyclical Maintenance Fund Green Energy Project Moor Field ASHP and Solar PV Upgrade TOTAL FUNDS |
Incoming resources £ 87,947 1,749 3,987 - 94 9,080 11,782 114,639 114,639 |
Resources expended £ (104,588) (5,206) - - - (9,080) (11,782) (130,656) (130,656) |
Gains and Movement losses in funds £ £ (11,631) (28,272) (7,347) (10,804) (17,526) (13,539) (161) (161) - 94 - - - - (36,665) (52,682) (36,665) (52,682) |
|---|---|---|---|
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SPONNE & BICKERSTAFFE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022
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 1/1/21 £ 587,359 56,098 98,524 1,728 23,727 - 767,436 767,436 |
Net movement in funds £ 2,365 5,505 20,895 267 - (2,410) 26,622 26,622 |
Transfers between funds £ (4,761) 2,351 - - - 2,410 - - |
At 31/12/21 £ 584,963 63,954 119,419 1,995 23,727 - 794,058 794,058 |
|---|---|---|---|---|
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 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 |
|---|---|---|---|
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 2022
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.
The Moor Field ASHP and Solar PV Upgrade fund includes funds received from Greater South East Energy Hub, under the Rural Community Energy Fund. These funds will pay for Phase 1 which was a feasibility study which identified Air Source Heat Pumps and Solar Panels and Phase 2 which involved drawing up a tender specification for these methods of heating.
Transfers between funds
The Cyclical Maintenance Fund and Extraordinary Repair 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.
17. RELATED PARTY DISCLOSURES
During the year no services (2021: £205) 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 arm’s length market conditions.
There were no further related party transactions for the year ended 31 December 2022, nor the year ended 31 December 2021.
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SPONNE & BICKERSTAFFE CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| 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 Covid-19 Depreciation of tangible fixed assets Support costs Management Postage and stationery Carried forward |
2022 £ 2,495 8,440 65,247 2,392 13,795 1,408 20,862 103,704 - 114,639 27,091 738 2,873 2,034 22,079 1,068 51,252 1,165 27 4,008 2,714 602 5,206 242 508 10 5,737 127,354 696 696 |
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 5,785 106,486 719 719 |
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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 2022
| 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 (expenditure)/income |
2022 £ 696 528 428 1,652 550 1,100 1,650 130,656 (16,017) (36,665) (52,682) |
2021 £ 719 744 171 1,634 577 1,151 1,728 109,848 (4,892) 31,514 26,622 |
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This page does not form part of the statutory financial statements
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