| Contents | |||
|---|---|---|---|
| Page: | |||
| Reference 4 Administration | Information | ||
| 2-5 | Report ofthe trustees | ||
| 6-9 | Report ofthe independent | auditors | |
| 10 | Statement ofFinancial | Activities | |
| Balance Sheet | |||
| 12- 17 | Notes on the financial | statements |
| Charity name: | Norton Folgate Almshouse Charities |
||||
|---|---|---|---|---|---|
| Charity Registration | number: | 207243 | |||
| Registered Office: | 6 Trull Farm Building, Tetbury, Glos, GL8 8SQ |
||||
| Correspondence | Address: | 6 Trull Farm Building, Tetbury, Glos, GL8 8SQ | |||
| Trustees: | Mr CD Weavers Co-opted (Chair) |
||||
| Mr P Gamble Co-opted (resigned Feb 2022) |
|||||
| Ms CMcCarter Co-opted | |||||
| Ms ABissett (formerly Bapst) LBTH | |||||
| Mr P Goldring exofficio (resigned Jan 2023) | |||||
| Ms IPuchwein Co-opted |
|||||
| Mr SPavitt PCC (resigned August 2022) | |||||
| Mr RWasserfall PCC | |||||
| Ms N Grimmett PCC (joined Sept 2022) | |||||
| Mr. D Wolf (joined Jan. 2023) | |||||
| Clerk to the Trustees: | Kellie Carson | ||||
| Auditors: | Kreston Reeves LLP, Montague Place, Quayside, |
Chatham | Maritime, Kent, ME4 | ||
| 4QU. | |||||
| Bankers: | Allied Irish Bank (GB),26Finsbury Square, London EC2A |
1DS | |||
| (closed March 2022) | |||||
| CAF Bank (Online) Limited, 25 Kings Hill Avenue, Kings | Hill, Kent, | ||||
| ME194JQ (opened —March 2022) | |||||
| Solicitors: | Devonshires Solicitors, 30Finsbury Circus, London EC2M |
7DT |
| Unrestricted | Endowment | Total Funds | Total Funds | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||||||
| Notes | |||||||||
| Income and | endowments | from: | |||||||
| Charitable activities |
82,342 | 82,342 | 89,259 | ||||||
| Investment | income | 131,784 | 2,207 | 133,991 | 73,819 | ||||
| Other Incoming Resources |
1,202 | 1,202 | 15,927 | ||||||
| Total | 215,328 | 2,207 | 217,535 | 179,005 | |||||
| Expenditure | on: | ||||||||
| Charitable activities |
151,070 | 151,070 | 118,383 | ||||||
| Total | 151,070 | 151,070 | 118,383 | ||||||
| Net income | before | net gains/(losses) | on | 64,258 | 2,207 | 66,465 | 60,622 | ||
| investments | |||||||||
| Net gains/(losses) on investments |
(1,539) | (9,714) | (11,253) | 119,901 | |||||
| Net movement in funds |
62,719 | (7,507) | 55,212 | 180,523 | |||||
| Reconciliation ofFunds | |||||||||
| Total funds | brought | forward | 1,434,554 | 1,318,129 | 2,752,683 | 2,572, 160 | |||
| Total funds | carried forward | 1,497,273 | 1,310,622 | 2,807,895 | 2,752,683 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | ||||||
| Fixed assets: | ||||||
| Tangible assets | 396,383 | 407,160 | ||||
| Investments | 1,469,797 | 1,481,049 | ||||
| Total fixed assets | 1,866,180 | 1,888,209 | ||||
| Current assets |
||||||
| Debtors | 7,401 | 16,368 | ||||
| Cash at bank and in | hand | 1,075,349 | 1,051,061 | |||
| Total current assets | 1,082,750 | 1,067,429 | ||||
| Liabilities | ||||||
| Creditors: Amounts | falling due within one year | 10 | (141,035l | (202,955l | ||
| Net current assets | 941,715 | 864,474 | ||||
| Net assets | 2,807,895 | 2,752,683 | ||||
| The funds ofthe charity: | ||||||
| Endowment funds |
1,310,622 | 1,318,129 | ||||
| Unrestricted income |
funds | |||||
| General funds | 13 | 1,378,699 | 1,315,980 | |||
| Designated funds |
12 | 118,574 | 118,574 | |||
| 1,497,273 | 1,434,554 | |||||
| Total charity funds | 2,807,895 | 2,752,683 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Contributions receivable |
net | ofidentifiable | service charges | 82,342 | 89,259 | |||
| 3 | INVESTMENT INCOME |
|||||||
| 2022 | 2021 | |||||||
| Rent receivable from investment | properties | 131,784 | 71,667 | |||||
| Income receivable on endowment | asset | 2,207 | 2,152 | |||||
| 133,991 | 73,819 | |||||||
| 4 | OTHER INCOMING | RESOURCES | ||||||
| 2022 | 2021 | |||||||
| Bank interest receivable | 1,019 | 173 | ||||||
| Other income | 183 | 15,754 | ||||||
| 1,202 | 15,927 | |||||||
| 5 | EXPENDITURE ON | CHARITABLE | ACTIVITIES | |||||
| 2022 | 2021 | |||||||
| Charitable activities: |
||||||||
| Repairs | 28,659 | 61,489 | ||||||
| Service cost | 36,939 | 21,262 | ||||||
| Interest payable on housing | loan | 1,936 | ||||||
| Administrative costs |
27,957 | 18,744 | ||||||
| Quinquennial Repairs |
41,585 | |||||||
| Depreciation | 10,776 | 10,776 | ||||||
| 145,916 | 114,207 | |||||||
| Support costs (governance): | ||||||||
| Auditors' remuneration |
(including | VAT and expenses) | 5,154 | 4,176 | ||||
| - In their capacity as auditors | ||||||||
| 151,070 | 118,383 |
| FIXED ASSETS | |||
|---|---|---|---|
| Freehold | Furniture | ||
| almshouse | and | ||
| property f |
equipment f |
Total f |
|
| Cost | |||
| At 1 January 2022 | 1,041,340 | 9,309 | 1,050,649 |
| At 31December 2022 | 1,041,340 | 9,309 | 1,050,649 |
| Social Housing Grant | |||
| At 1 January 2022 &31December 2022 |
502,542 | 502,542 | |
| Depreciation | |||
| At I January 2022 | 131,638 | 9,309 | 140,947 |
| Charge for the year | 10,776 | 10,776 | |
| At 31 December 2022 | 142,414 | 9,309 | 151,723 |
| Net BookValue | |||
| At31December 2022 | 396,384 | 396,384 | |
| At 31December 2021 | 407,160 | 407,160 |
| Endowment | Total | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund- | Endowment | Endowment | Unrestricted | ||||||||
| Investment | Fund - Listed | Fund- | Fund | - | Listed | ||||||
| property | investments | Investments | investments | Tota | I2022 | Total 2021 | |||||
| E | E | E | |||||||||
| Market Value | |||||||||||
| At January | 2022 | 1,390,000 | 83,564 | 1,473,564 | 7,485 | 1,481,049 | 1,353,120 | ||||
| Reclassification | in the year | 0 | 0 | 8,027 | |||||||
| Revaluation | in the year | (9,714) | (9,714) | (1,539) | (11,253) | 119,902 | |||||
| 0 | |||||||||||
| At31December | 2022 | 1,390,000 | 73,850 | 1,463,850 | 5,947 | 1,469,797 | 1,481,049 |
| 9 | DEBTORS | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Amounts receivable |
within one year: | |||
| Sundry debtors and | prepayments | 3,823 | 2,314 | |
| Rent arrears | 3,578 | 14,054 | ||
| 7,401 | 16,368 | |||
| 10 | CREDITORS DIJEWITHIN ONE YEAR |
| 2022 | 2021 | |
|---|---|---|
| Loan principal | 3,937 | |
| Trade creditors | 4,033 | 14,947 |
| Accruals and deferred income | 6,260 | 54,832 |
| Other creditors | 130,742 | 129,239 |
| 141,035 | 202,955 |
| NDOWMENT FUND |
|||
|---|---|---|---|
| 2022 | 2021 | ||
| E | |||
| Balance at beginning ofyear | 1,318,129 | 1,195,533 | |
| (Decrease) in value offixed asset investments | during year | (9,714) | 120,444 |
| Income earned in year | 2,207 | 2,152 | |
| Balance at end ofyear | 1,310,622 | 1,318,129 |
| Reserve for | Reserve for | |||||||
|---|---|---|---|---|---|---|---|---|
| Future | Future | |||||||
| Cyclical | Extraordinary | Repairs and | Total | Total | ||||
| Maintenance | Repair | Fund | Maintenance | 2022 | 2021 | |||
| At 1 January 2022 | 38,854 | 54,720 | 25,000 | 118,574 | 118,574 | |||
| Transfers in year |
||||||||
| At 31December 2022 | 38,854 | 54,720 | 25,000 | 118,574 | 118,574 | |||
| GENERAL FUND | ||||||||
| 2022 | 2021 | |||||||
| Balance at beginning ofyear | I,315,980 | 1,258,052 | ||||||
| Net income before | net | gain/(losses) | on investments | 64,258 | 58,470 | |||
| Net gains/(losses) | on investments | (1,539) | (542) | |||||
| Balance at end ofyear | 1,378,699 | 1,315,980 |