2024-12-31-accounts - The Sponne And Bickerstaffe Charity

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REGISTERED CHARITY NUMBER: 204117

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SPONNE & BICKERSTAFFE CHARITY

SPONNE & BICKERSTAFFE CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	Page
Report of the Trustees	1 to 6
Independent Examiner's Report	7
Statement of Financial Activities	8
Balance Sheet	9
Notes to the Financial Statements	10 to 20
Detailed Statement of Financial Activities	21 to 22

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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 2024

ACHIEVEMENT AND PERFORMANCE

Chair's Report

The year commenced with the meeting of the finance committee chaired by Alan. The committee reviewed the charity's finance and set the following year's budget.

At January's meeting the budget was approved. The annual inspection work list to be completed was also agreed by the Feoffee's.

The Feoffee's were informed that one of our residents was now in the care of a nursing home.

The staff undertook first aid training in January which they found beneficial.

In February it was agreed by the Feoffees that the charity would use the ECO 4 Government Grant scheme to replace the electric storage heaters.

The annual staff appraisals were completed. Maternity cover recruitment began with the job description completed and an advertisement, of which fifteen people expressed an interest.

In April Carbon Rewind commenced replacing the heaters in the bungalows under the ECO 4 Grant.

Interviews took place for the position of Clerk covering maternity leave.

On Wednesday 3rd April we enjoyed our Founders Day Service at St Lawrence Church followed by the Founders Day supper.

On 1st May we welcomed Sally who will be the Clerk to the charity whilst Hannah is on Maternity leave.

In May we commenced supporting a resident and their family in conjunction with social services, this process was positive, and the meetings held certainly supported and benefitted the resident.

Jean our Deputy Warden continues to have coffee mornings for the residents, often doing this in her own time. It was agreed at the May meeting to increase Jeans working hours to accommodate the social events she is arranging and be available for the staff meetings.

The residents and staff enjoyed a coffee morning at Moorfield to celebrate Hannah the Clerk, who is expecting a baby and going on maternity leave. Hannah received some beautiful gifts from residents and Feoffees and we wish her well.

In June the staff and Feoffees updated the residents handbook, the Chair has regular staff meetings which helps the staff and Feoffees work together. The contribution to the handbook from the staff is important and was appreciated by the Feoffees.

In July a Fire Risk assessment was completed whereby the staff implemented a lot the recommendations and now have as part of their routine regular checks which are now recorded. The Chair arranged a visit from Fire and Rescue which assisted greatly in establishing how to implement the recommendations.

On 9th October the MP Sarah Boole visited Moorfield and spoke to residents and Feoffees. All enjoyed refreshments and an opportunity to speak with our local Member of Parliament.

On 13th October the annual land visits took place, and their findings discussed at the October meeting. The fixed Electrical Inspection was completed in October along with the bungalow inspections.

The Gardening committee reported the retirement of our gardener who has been our gardener at Moorfield for many years.

In December one of our residents gave notice on her bungalow as she is now receiving full time care in a nursing home.

Page 2

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The new heaters were installed in the summer. Unfortunately, some of our residents are now having problems. The Warden and the Clerk, on behalf of the Charity, are in communication with the installers and we hope to rectify the problems.

We were delighted to support a volunteer who wishes to help with the general grass cutting and maintenance of the grounds. Roger our part time groundsman will be retiring next year and therefore this gives our volunteer time to get to know whether the role is for him.

The annual Christmas Vouchers given by the charity were distributed, this year we received 77 requests for vouchers from local agencies and organisations, schools and churches. This takes a lot of the Clerks time coordinating the vouchers however we feel it can make such a difference to many so people who live in Towcester.

We also enjoyed our annual Christmas party inviting residents, feoffees and staff past and present. This was led by Revd Paula who is also a Feoffee.

It has been another busy year at Moorfield in particular the replacement heating, Fire risk assessment, updating the residents handbook, working alongside social services to ensure a resident was safe, employing Sally our new Clerk, the electrical inspection. This is all alongside the day to day running and support given at Moorfield.

Gail Caseman-Jones Chair

FINANCIAL REVIEW

Financial position

At the year end the total reserves of the charity are £775,020 which are all restricted funds as per the notes to the financial statements.

Page 3

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

FINANCIAL REVIEW

Treasurers Report

2024 started well with the finance meeting setting the budget for the year in early January which was approved by the Feoffees at the January meeting.

We agreed we would leave our residents' water contribution at £4/week and raise the residents' contribution by about 5% effective from April 2024.

This year we finally managed to replace our old-fashioned storage heaters with new modern units at very little cost to the charity thanks to a Government grant , we also came a step closer to having a smart meter installed to try and prevent estimated electricity and back billing by our provider.

Our solar panels are performing well, we are still able to subsidise our residents' electricity by about 7p/unit on their day rate, Our 10 year interest free loan that paid for the solar pv system stands as at the year end at £37,446 and two payments of £2,080.75 are made each year to service the loan.

Further to our trial in 2023 of replacing a back door on one of our bungalows with a wood effect UPVC door we budgeted to replace a further 4 back doors and replaced a bay window in bungalow 9 at a total cost of £6,000.

The other major expense was to commission a fixed electrical wiring test at a cost of £2,652.

In terms of income and expenditure our total income for 2024 was £133,542 (£116,031 in 2023) and our total expenditure was £140,594 (£107,048 in 2023).

One of our remits as a charity is to provide relief in need payments to the residents of Towcester and surrounding areas who find themselves in financial hardship. We budget £5,000 per year and in 2024 we again exceeded our budget and spent £6,311.

Finally, towards the end of 2024 three of our bungalow's were vacated and it was agreed to fully decorate and refurbish them which will take place in 2025.

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 £69,011. 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 £308,619.

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.

Page 4

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT 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-optive 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. Four separate committees meet to discuss Finance, Major Refurbishments, Relief in Need and Gardening. An additional two committees meet when needed for Staff and emergency planning.

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 Mr S Burnley Mrs G Casmen-Jones - Chair of the Feoffees to April 2025 Mr A Gilbert Mr I Massey Mrs K Wheeler Rev P Challen Mr J Lynch Mr A Lohman Mr C Wright - Chair of the Feoffees from April 2025 Mrs J Simm Mr G Hurndall - resigned 31st December 2024 Mrs J Mains

Independent Examiner

Shaw Gibbs Limited Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Page 5

SPONNE & BICKERSTAFFE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

REFERENCE AND ADMINISTRATIVE DETAILS Clerk to the Trustees

H Stubbs S Carter

Bankers

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

Page 6

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 2024.

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 2. 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 Shaw Gibbs Limited Eagle House 28 Billing Road Northampton Northamptonshire NN1 5AJ

Date: 3 June 2025

Page 7

SPONNE & BICKERSTAFFE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 3 Residents housing - Relief in Need - Investment income 2 - Total - EXPENDITURE ON Charitable activities 4 Residents housing - Relief in Need - Total - Net gains on investments - NET INCOME/(EXPENDITURE) - Transfers between funds 17 - Net movement in funds - RECONCILIATION OF FUNDS Total funds brought forward - TOTAL FUNDS CARRIED FORWARD -	Almshouse Branch £ 123,682 - 7,758 131,440 134,283 - 134,283 5,832 2,989 (4,209) (1,220) 713,035 711,815	Relief in Need Branch £ - 380 1,722 2,102 - 6,311 6,311 1,396 (2,813) 4,209 1,396 61,809 63,205	2024 Total funds £ 123,682 380 9,480 133,542 134,283 6,311 140,594 7,228 176 - 176 774,844 775,020	2023 Total funds £ 107,324 - 8,707
				116,031
				101,636 5,412
				107,048
				24,485
				33,468 -
				33,468 741,376
				774,844

The notes form part of these financial statements

Page 8

SPONNE & BICKERSTAFFE CHARITY

BALANCE SHEET 31 DECEMBER 2024

Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 - Investments Investments 11 - Investment property 12 - - CURRENT ASSETS Debtors 13 - Cash at bank - - CREDITORS Amounts falling due within one year 14 - NET CURRENT ASSETS - TOTAL ASSETS LESS CURRENT LIABILITIES - CREDITORS Amounts falling due after more than one year 15 - NET ASSETS - FUNDS 17 Restricted funds TOTAL FUNDS	Almshouse Branch £ 343,580 248,455 90,000 682,035 4,877 69,011 73,888 (10,823) 63,065 745,100 (33,285) 711,815	Relief in Need Branch £ - 63,205 - 63,205 - - - - - 63,205 - 63,205	2024 Total funds £ 343,580 311,660 90,000 745,240 4,877 69,011 73,888 (10,823) 63,065 808,305 (33,285) 775,020 775,020 775,020	2023 Total funds £ 352,766 304,431 90,000 747,197 5,367 69,986 75,353 (10,260) 65,093 812,290 (37,446) 774,844 774,844 774,844

The financial statements were approved by the Board of Trustees and authorised for issue on 21[st] May 2025 and were signed on its behalf by:

The notes form part of these financial statements

Page 9

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Page 10

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Page 11

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

2. INVESTMENT INCOME Dividends & bank interest received 3. INCOME FROM CHARITABLE ACTIVITIES Activity Contribution Residents housing Rates Residents housing Heat and light Residents housing Laundry income Residents housing Grants Residents housing Sundry income Residents housing Contribution Relief in Need Grants received, included in the above, are as follows: Rural Community Energy Fund ECO4 Government Scheme 4. CHARITABLE ACTIVITIES COSTS Residents housing Relief in Need	Direct Costs (see note 5) £ 128,887 6,311 135,198	2024 £ 9,480 2024 £ 78,259 2,527 9,899 1,197 31,550 250 380 124,062 2024 £ - 31,550 31,550 Support costs (see note 6) £ 5,396 - 5,396	2023 £ 8,707 2023 £ 73,072 2,796 18,450 1,225 11,781 - - 107,324 2023 £ 11,781 - 11,781 Totals £ 134,283 6,311 140,594

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

2024
£
Staff costs
36,209
Rates and water
2,063
Insurance
2,534
Light and heat
15,497
Telephone
1,235
Property repairs & maintenance
50,332
Cleaning
1,500
Garden materials & equipment
454
Gardener time & materials
4,939
Other garden contractor work
2,250
Travel and entertainment
420
Relief in Need expenses
6,310
NAAH subscription
863
Appello costs
986
Depreciation
9,606
135,198
6.
SUPPORT COSTS
Governance
Management
Finance
costs
£
£
£
Residents housing
3,106
40
2,250
Support costs, included in the above, are as follows:
2024
Residents
housing
£
Postage and stationery
1,486
General office expenses
1,308
Sundries
312
Training
-
Bank charges
40
Interest payable and similar charges
-
Independent Examiners fees -
independent examination
590
Independent Examiners fee -
accountancy fees
1,660
5,396

2023
£
30,798
2,479
2,252
20,643
1,124
20,691
1,034
75
3,244
1,340
788
5,412
253
924
9,564
100,621
Totals
£
5,396
2023
Total
activities
£
823
777
392
438
-
1,981
560
1,456
6,427

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees' expenses

£116 of expenses for travel reimbursement were paid to two Trustees in the financial year (£213 paid in 2023 to two Trustees).

8. STAFF COSTS

Wages and salaries Other pension costs	2024 £ 35,744 465 36,209	2023 £ 30,169 629
		30,798

The average monthly number of employees during the year was as follows:

Residents warden Handyman Clerk	2024 2 1 2 5	2023 1 1 1
		3

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

Key management personnel remuneration totalled £33,671(2023: £25,524). This includes the Warden and Clerk to the Trustees.

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted fund £ INCOME AND ENDOWMENTS FROM Charitable activities Residents housing - Investment income - Total - EXPENDITURE ON Charitable activities Residents housing - Relief in Need - Total - Net gains on investments -	Almshouse Branch £ 107,324 7,011 114,335 101,636 - 101,636 19,283	Relief in Need Branch £ - 1,696 1,696 - 5,412 5,412 5,202	Total funds £ 107,324 8,707
			116,031
			101,636 5,412
			107,048
			24,485

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted fund £ NET INCOME - Transfers between funds - Net movement in funds - RECONCILIATION OF FUNDS Total funds brought forward - TOTAL FUNDS CARRIED FORWARD - 10. TANGIBLE FIXED ASSETS COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023	Almshouse Branch £ 31,982 (3,716) 28,266 684,769 713,035 Almshouse £ 510,618 - 510,618 196,892 5,107 201,999 308,619 313,726	Relief in Need Branch £ 1,486 3,716 5,202 56,607 61,809 Plant and machinery £ 42,900 - 42,900 7,202 3,926 11,128 31,772 35,698		Total funds £ 33,468 -
				33,468 741,376
				774,844
				Fixtures and fittings £ 24,037 - 24,037 23,120 139 23,259 778 917

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

10. TANGIBLE FIXED ASSETS - continued

COST At 1 January 2024 Additions At 31 December 2024 DEPRECIATION At 1 January 2024 Charge for year At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 11. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2024 Revaluations At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 There were no investment assets outside the UK. 12. INVESTMENT PROPERTY FAIR VALUE At 1 January 2024 and 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023	Furniture £ 20,196 - 20,196 19,079 189 19,268 928 1,117	Office equipment Totals £ £ 4,217 601,968 420 420 4,637 602,388 2,909 249,202 245 9,606 3,154 258,808 1,483 343,580 1,308 352,766 Listed investments £ 304,431 7,229 311,660 311,660 304,431 £ 90,000 90,000 90,000

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Other debtors
3,559
Prepayments and accrued income
1,318
4,877
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Other loans (see note 16)
4,161
Trade creditors
4,551
Other creditors
92
Accruals and deferred income
2,019
10,823
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
£
Other loans (see note 16)
33,285
16.
LOANS
An analysis of the maturity of loans is given below:
2024
£
Amounts falling due within one year on demand:
Other loans
4,161
Amounts falling between one and two years:
Other loans - 1-2 years
4,161
Amounts falling due between two and five years:
Other loans - 2-5 years
12,482
Amounts falling due in more than five years:
Repayable by instalments:
Other loans more 5yrs instal
16,642

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SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

17. MOVEMENT IN FUNDS

Net
movement
At 1/1/24
in funds
£
£
Restricted funds
Almshouse Fund
562,695
5,043
Relief in Need Fund
61,809
(2,813)
Extraordinary Repair Fund
127,994
(2,494)
Chantry Church of St Lawrence
2,039
95
Cyclical Maintenance Fund
20,307
345
774,844
176
TOTAL FUNDS
774,844
176
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Restricted funds
Almshouse Fund
95,505
(92,811)
Relief in Need Fund
2,102
(6,311)
Extraordinary Repair Fund
4,040
(9,922)
Chantry Church of St Lawrence
-
-
Cyclical Maintenance Fund
345
-
ECO4
31,550
(31,550)
133,542
(140,594)
TOTAL FUNDS
133,542
(140,594)
Comparatives for movement in funds
Net
movement
At 1/1/23
in funds
£
£
Restricted funds
Almshouse Fund
547,234
25,177
Relief in Need Fund
56,607
1,486
Extraordinary Repair Fund
111,880
10,114
Chantry Church of St Lawrence
1,834
205
Cyclical Maintenance Fund
23,821
(3,514)
741,376
33,468
TOTAL FUNDS
741,376
33,468

Transfers
between
At
funds
31/12/24
£
£
(16,536)
551,202
4,209
63,205
6,000
131,500
-
2,134
6,327
26,979
-
775,020
-
775,020
Gains and
Movement
losses
in funds
£
£
2,349
5,043
1,396
(2,813)
3,388
(2,494)
95
95
-
345
-
-
7,228
176
7,228
176
Transfers
between
At
funds
31/12/23
£
£
(9,716)
562,695
3,716
61,809
6,000
127,994
-
2,039
-
20,307
-
774,844
-
774,844

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continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

17. MOVEMENT IN FUNDS - continued

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 Cyclical Maintenance Fund Moor Field ASHP and Solar PV Upgrade TOTAL FUNDS	Incoming resources £ 98,393 1,696 3,964 - 197 11,781 116,031 116,031	Resources expended £ (80,237) (5,412) (5,907) - (3,711) (11,781) (107,048) (107,048)	Gains and Movement losses in funds £ £ 7,021 25,177 5,202 1,486 12,057 10,114 205 205 - (3,514) - - 24,485 33,468 24,485 33,468

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 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.

ECO4 - Government grant given under an energy scheme to pay for the electric storage heaters to be replaced with more energy efficient heaters for residents.

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.

Page 19

continued...

SPONNE & BICKERSTAFFE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024, nor the year ended 31 December 2023.

Page 20

SPONNE & BICKERSTAFFE CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

INCOME AND ENDOWMENTS Investment income Dividends & bank interest received Charitable activities Contribution Rates Heat and light Laundry income Grants Sundry 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 Depreciation of tangible fixed assets Support costs Management Postage and stationery General office expenses Sundries Training Finance Bank charges	2024 £ 9,480 78,639 2,527 9,899 1,197 31,550 250 124,062 133,542 35,744 465 2,063 2,534 15,497 1,235 50,332 1,500 454 4,939 2,250 420 6,310 863 986 9,606 135,198 1,486 1,308 312 - 3,106 40	2023 £ 8,707 73,072 2,796 18,450 1,225 11,781 - 107,324 116,031 30,169 629 2,479 2,252 20,643 1,124 20,691 1,034 75 3,244 1,340 788 5,412 253 924 9,564 100,621 823 777 392 438 2,430 -

This page does not form part of the statutory financial statements

Page 21

SPONNE & BICKERSTAFFE CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Finance Loan arrangement fee Governance costs Independent Examiners fees - independent examination Independent Examiners fee - accountancy fees Total resources expended Net (expenditure)/income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net income	2024 £ - 590 1,660 2,250 140,594 (7,052) 7,228 176	2023 £ 1,981 560 1,456 2,016 107,048 8,983 24,485 33,468

This page does not form part of the statutory financial statements

Page 22