REPORT OF THE TRUSTEES AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31° DECEhlBER 2023 FOR DoRKG CHAIUTY
DORKING CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" DECEMBER 2023 PAge5 CoAt¢nts Ref¢reTKe and administr1ve inf(brmatioD Repon of the TnIe¢S Endependeni Examiner's Report Siatem¢ni of Comprehensive Illcom¢ Ststement of FinaDcial Positio St*tnerti of Cash Flows Notes to the Financial Sements
REGISTh4TION CTharAty RegistralioD Nujnber 21Y1251 HODKS atKJ CDmmuDities AgeY Numt*r A2255 TRUSTEFS: MRKll Mrs J Brown Mr5 M Cooksey J R Gowland app)irted 9 January 2023 D C Kingham Mrs C tAwrence J Turnbull N Wright M Btrr S J Mth)ny app)inted 15 January 2024 SECRETARY AND CLERK TO THE TRUSTEFS: Mr T HAylett Rosc Cottage 11 Cotsnandene SeY RH4 2BL INDF.PENDE P. D. tmgstaff Ellis Atkin8 The Atsium Business Centre SurTey RH4 IXA National Weth1[ Bank plc 110 Bistrwgate LA00 One Kingsway LoThlon WC2B 6AN
DORKING CHARfTY REPORT OF THE TRusfEES FOR THE YEAR ENDED 31st DKCEMBER 2023 The Trusiees subTnit their annual r¢port. tog¢ther with the unaudited financia] sthiements of the Charity, for the year end¢d 31" tktcmber2023. The financial ststernents prepared comply Mith the recommendations in the Statemeni of RecommeRded Practice Accounting for S(Kial Housing Providcrs 2018 and in accordance with the Housing and Re8enerJiinn Aci 2008. Ac¢ounring DectIOn for Private Providers of Social Housing 2019 and FRS 102. STRUCTURE. GOVERiYANCE AND MANAGEMENT The charity comprises ¢ighi¢en Smaller paro¢hial charities whi¢h, underihe governing documenL'Scheme of Commissioners. dated 4th D¢cembeT 1992. became known as the Dorking Charity- The cighteen charities alld their propety are administered and managed as one charity under the tille Dorking Chwity. The chariry'5 governing document states that there 5htsuld be ¢leven trusiee5. 01 whom one is an ex-offi¢io trusiee, four ore nominated trustees and six are c¢wted trustees. New co-opted trustees 8r¢ appointed for five years by a resoluiion of the trUee$ passed at a special nKeiing requiring at least 21 days. notLCe. Variances in th¢ office of nominated tnjstees are notifsed to and fill¢d b), the proper appointing body. Three ofthe nominated Inisi¢es are appointed by Mole Valley District Council and one by Holmwc)d Parish Council. The tnanagement of the charity k5 implemenied by four suknmmiLtees ¢overing Finance. Resid¢tts, Building and Development. each of which consists of 3 or 4 trusi¢es. SutCOmmI11tes report to quarterl)r meetings of the trust¢es and decisions are takeD by majortty votr. OBJECTIVES AND AcfiviTIES The prin¢ipal objective of th¢ clwiry 15 the provisioo and management of almshouse flats. which are used (o house people in need in Dorkin& Publi¢ benefit 5t2tement The trustees confim that they hav¢ ref¢Trcd io the guidance contained in the Charty Commission's general guidance on public benefli when reviewing the T,5 aim5 and objectives and in planning lutu¥¢ activities. Grdnt miking policy Under the tems of a Srheme of 4 De¢ember 1992 appwv¢d by th¢ Charity Commi$sioncr$, the tru5t¢¢s can make ntS to persons Tesident itl th¢ Ancient Parish of Dorking Ar who are in condition ofneed, hardship or distress, eiiher dir¢ctly or via an institution.
DORKING CHARrrY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2023 ACHIEVEMENT AND PERFORMANCE The trustee5 are satisfied with the results for the year. The number of units Lder manag¢ment at the b¢ginnin8 and end of the year twe¥Lty. FINANCIAL REVIEW There was a surplus for the year of £72.309 compared with a defjcit in the previous year of (£78,574). This surplus was due to a recovery in the stock rnket reflecied by an increase in the market value of fixed asset investsnenrs of £39.393 12022 £82.572 decrease) and an Increase in maintetkanre contribution income due to significantly fewer voids in the year. Operating expenses have also increased maitlly due io increased energy costs but at a lower ra* th&Ln maini¢nance contribution5. The charity ended the year wth net curreni a55¢ts of £86.162 compared to £90,958 l&st year. Investme1 policy The tru5tecs have agreed that the investment portlolio should be manaued on a discreiionary basis by Quilt¢r Chevioi Asset Manatsein¢nt Limited. The portfolio includcs some rash but mainly shares in the Quilter Cheviot Global Income & Gr0h Fund for Charities, which ieStS in a mix of direa equities (UK. US and Europe primatilv) alid bonds. Thc objective of the rund 15 to deliver an annualised iotsl return of 3.5% above th¢ UK Consumer Price Ind¢x over the mediuTr temi through exposllre (o a diversified raTr8c of asset cla55¢S. In ord¢rto rnonitor progres5, Quilter Cheviot Asset Managernent Limited provide quart¢Tlycapithl perfomance reports. The reports include the movemeni on th¢ Ff All sh Lndex o%er the same riod. A review m¢¢ting with Qllilter Cheviot Asset Manaoement Limited is held once year. The irusrees will periodically ¢onsidef i%hether ihere is a Tttd to r¢vise the Investment Poli¢y Stat¢meoi and if 50. will i[nedIatelY advis¢ Quilter Cheviot Asse( Managemeni Limited. Reserves policy The Chry maintaiD5 a level of reserves 5u¢h th it will bc abl¢ io mctt any foreseeable r¢pairs or renewals of its asseis. The level of reserves held is shown in the balance sheet £1.507.998 but ofthis amouni £1.421,836 con515ts of fixed a5S¢t5, which ineludes the inv¢51ment portfolio. Reseryes surplus io Cuent requirements are beang built up io finance fijturc improvemetlts to the charity's propenie5.
DORKLYG CHA INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DoRKG CHAIUTY I report to the tnEStee5 on my examinaii(Jn of the accounts of Dorking Chariry for the yw ended 31" December 2023 set out ottpa¥es5 to 11. RESPONSIBITIES AND BASIS OF REPORT As the charitys trnsiees. you are responsible for the prepardtion of the accounts in aOrdanCe with th¢ requirem¢nts of th¢ Charities Aci 2011 {'kne A¢t"). I report in respect of m). examination of the TTU5t's accounts carried oui under section 145 of the 2011 Act and in carrying out my ¢xatnhnation, I hav¢ foll¢)wed all the 8pplicable Direction5 given by the Charity Commission uThder section 145{5Xbl of the Aci. DEPENDENT EXAMINER'S STATEMENT I have ¢on]pleted my examination. I confirrn thai no material mallers have come to my attention in connection with the examinarion which give5 me caus¢ to bcliev¢ that any Mala1 respect: the accounting rewrd5 wrr¢ noi kept in accordan¢e with se¢iion 130 of thc Charities A. or Ihe accounts did not accord wath the accounting re¢ords- or the aCcOts did noi comply w*th the applicable requirements collcerning the fomi and content of accounts set out in the Charities (Arcounts aDd Reports) Reoulaiiops 2008 oth¢r than any requirement that the accoynts give a'true and fair, view which is not a rnatter considered as part of an ÉndependeTht exatniThalion. I have no conttms and have ¢ome acr(w no other matters in conneciion with the examination to which atteniion should be drawn in thi ort in order to enable a pro r understanding of the aOunts to be reached. P D Longstaff FCA Elli5 Atkins ChArt¢red Accounl2nt5 The Atriurn Business Centrt Curtl5 Rtkad Dorking? Surrey RH41XA DAted: low M 7014
DORKINC CHARITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR EfiDED 31- DECEMBER 2023 UMre5trl¢ted Furtds 31112n3 31112n2 Not¢s TURNOVER 171,701 li1.173 OPERATING EXPEfiDITURE Services Premises tnaintenance Administration Mana8em¢nt Grdnt5 payable (76,824) {59.551) (728) 122,116) {52,345) (76,063) 1778) {172811 1159219) 1146.4671 Oper9ting SUrplu{ericltI 12.482 (15,294) Investment lllcome Rental incojne Revaluation of fLxed asset investrnents 17.903 2,591 16.701 2.591 12 Surplus ordin¥ry Activities fore tax#tlon 72.369 (78,574) T&vtion on swplus on orditwy activities SURPLUS FOR THE YEAR 72.369 STATEMENT OF CHANGES IN RESERVES Balance btoughi fon¥ard 1,435.629 1,514.203 Surplus l {tkfLClt) for th¢ year 72.369 (78.574) Balance Carried forward 12 1507 998 1.435 629 Icl.::.l. Approved by the tCeS at a rn¢eting held on.. 2024. M R Knort.. Trustee .. Trustee The notts for part of these financial statemetsts
DORKING CHARITY STATEMENf OF FINANCIAL POSITION AS AT 31- DECEMBER 2023 31112rii 31112n2 FIXED ASSETS cOTnpled housing properties cosl Notes 902.833 902,838 Less Housing Association GraDt 125395 777,443 41.791 602.602 125,395 777,443 47,761 519.460 Other fJxe(J a55ets Investment5 1,421,836 1,344.670 CURRENT ASSETS Debtors Cash at bank aThd in hand io 3,658 4,763 89.374 94.137 89.874 CREDITORS Amounts falling du¢ wtthin one year NET CURRENT ASSETS TOTAL ASSETS LESS TOTAL LIABILITIES 1.507.998 1.435,629 In¢orn¢ and ExpendÉwre Reserves 12 1507 998 1.435 629 The rtnaiicial statements were approved by thc TnlegS on.... ..2024 and signed on its behalf by. M R Knott.. Trusiee C Kingh THa The notes forni part of these fitt•n¢ial 5tateTnents
STATEMENf OF CASH FWWS AS AT31ST DECEMBER 2023 J1112ll3 31112122 N¢t c#$h gen¢r2ted from opernting *ctlvities (see below) Cash tlow from investing activities Purchase of investmenwfixed asets Pn)cceds from $21e of tnvesttnents L)i¥idend & interesl received Cash fjow from fittancing Activities Interest paid New s¢¢ured loans Repajments ofboNowings 22,681 (4,604) (43,742) 1114) 17.903 16,701 Net change in c85h Cash At btsnk gnd in haDd #t the beginning of the year Cxsh at bank and iv hand at the end of the year (3.158) 89.374 86.216 11.982 Nott 31112123 31112n2 Cash flow from operating •ctivitieS Sutpluslldefi¢it) for the year Adjusimenls for non•cash item5 Depreciatson of tangible fixed assets Decreasel(inrr¢ase) in trdde and other dtblors Inerea5elldecr¢ase) in trade and other crcditors Rent re¢eivable 12,481 (15.294) 5.970 5,970 4.002 (1,874) 2,591 534 2,591
DORKII%G CHARITY P40TES TO THE FtNANCIAL STATEMEvrs FOR THE YEAR ENDED 31sf DECEMBER 2023 ACCOliNTING POLICIES The financial stst¢ments have been prepared in accordonce with applicable United Kingdom Accouniing Standards iti the Uniied Kingdom and the Sthtement of Re¢ommended Pradice Accowiting by R¢gistered Social Housing Providers {upd2ted 2018). A summary of the morc imponani accountiDg policie5 is Set out below-.- (#) Aeeouthling b25iS The financial statements are prepared under the historical cost conveniion modified by the revaluation of cenain a55¢t5. In preparing the financial sthiem¢nts, the Charity lollows the Financial R¢poning Standard 102 (FRS 102). the Housing Statement of Recommettded Prdctice 2014. th¢ AccountingD1ctIon for Privat¢ Registered ProderS ofsocial Housing 2Q15 and Tr Houskng and Regeneration Act 2008. (b) Tangkble fixtd Assets and deprecixtioll HousiDg properties and improvements are included at cost less Housing Association Grant. No depr¢ciation is charged on building5 as. in the opinion of the trustees, the PToperties ar¢ mainthined in a high 5thte of repair, and therefor¢ th¢ residual value is not believed to be les5 thaD cosl. and their life is expected to exceed fifty years. Other fixed assets arc included at CQsL Depreciation is ¢iwged so a5 ts> writ¢ off the cost. less estimated residual value, ovcr the expect¢d useful economic life of twenly years. (¢) iinrestrlcted fund5 UnT¢stri¢ied in¢om¢ funds comprise those funds which ihe mise$ are free io use for any purpgse in furtheTance of the ¢haFitable objects. Unresui¢icd funds in¢lude designated fuDd5 wh¢re the tyu5tecs, al th¢ir discretion, have ¢rtaied a fund for specific purpos¢. (d) Investments aDd in¥tent income Investments are included in the fmaDcial 5tstements mid-rnats value at th¢ balano sheet date. In¢ome from invesiments is wcollnted for when receivablc. (e) Realised g#in5 and 1055e5 All 8a]05 and losses are taken to ihe stsiemeni of financial activilles as they arise. Realised gains and losses on inv¢5tThents are calculated as the diffeTertce betweet) $31e5 proceeds and op¢niDg mathel valu¢ (purchas¢d date if later). Unrealised (Tains and losses are calculat¢d as th¢ difference between the market value at the year end and opening market value (or puNha5e date if later). (D Turnover #Dd reDt Turnover Tepre5ent5 maintenance coDmtioThs from th¢ tenants of the almshouse flats and 15 disclosed in the financial 5tdieinettts oft an accruals basis less any losses arising from voids. The letting of non-investment prop¢rty ai nominal ctsst 15 in furtherance of the Charity's obje¢ IE) Expendlture Expenditure is included on an a¢¢ basis and is all relatrd direcily to the objects of ¢haTtiy ¢xc¢pC where shown. {h) Taxatlon The Dorking Charity is a resistcred charity and is. therefore, exemw from liabilityto Wation on its incorne a]xl capi1 gains.
DORKING CHAIUTY NOTES TO THE FINAIYCIAL STATEMENTS FOR THE YEAR EED 31- DECEMBER 2023 INVESTMENT INCOME 31112n3 31112122 Dividend income 17.903 16.701 RENT Thecharity w&% bequeathed the fr¢ehold of23 acres of land atGillingdrov¢, ChÉslet Marsh. Kent in the 19 century. Currently the land is rented out io a local farnier for grdzing at £2.59] {2022-. £2.591) per annutn. 4. TURNOVER 31112n3 31112r22 Maintenance contributions 169,501 2,200 128.432 2,741 Grants and Other Income 171,701 132.066 At th¢ beginnitig and end of the year there wer¢ 20 tlats under manage1nL 5. SERVICES 31112123 31112r22 Secretary 50% fees Warden 50% ary Electricity Heatins Telepholles Tele¢are and alarm Waier rdtes Insurance Cleaning and gardening Sundry expenses 6.451 9,131 2,963 39.685 1,316 3,445 4,447 3,013 5,063 6,444 .557 2.439 14,827 1.164 3.632 5.085 2,658 5.453 2,086 76,824 6. STAFF COSTS The only enjployee is the warden and the charge of £18262 (2022.. £17.114} represents his salary and related National In5uran¢e for the year and pension eontributiorks inio NEST. The chatiiy paid £12,570 {2022.. £11,769) in respect of Clerk's fees and expense claims of £331 (2022.. £1.1191. Staff costs are splii ¢quatly beiween management and s¢rvi¢e c05t5. There were no fees or other remuneraiion or expenses paid to any rnember of the maThasÈng b(Kty of the charity.
DORKING CHARITY TrIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315f DECEMBER 2023 7. SURPLUS ON ORDINARY AcfiviTIES BEFORE TAXATION 31112123 31112n2 This is Sed after ¢ing. D¢preciation Independeni Examiner fee 5.970 1,560 5,970 560 F5XED ASSETS Proptrty? Plant and Equipment Alm5hou5e Propertfies Plant & Equip. TOTAL COST At 1st January 2023 59.701 837,144 Di%posais Addiiions At 3 1st December 2023 59.701 837 144 DEPRECIATION At I. January 2023 11.940 11,940 Elin)inated on disposal Charge for the year At 3 Isi December2023 17,910 NET BOOK VALUE At 31. December 2023 777 443 819234 At 31 Decemb¢r 2022 777.44) The Alrnshouses were consmtded in the late nindttnth cenwry. There is no record of th¢ original cost aDd no value is attributcd thcreio. The above details relaie to improveTnenis carried oul which were partly fvnded by grants from the Hou5in8 Corporation of £125.395 a[ Local Authoriry Mortgage b)aTLS of £18,000. In the pasl, the charity a¢quired 23 acres of reclaimed 8rn2ing land at Gillingdrove. Chislei Nlarsh, Kent by bequest. No ie£ord of the value of this land has been kepi 50 il is Tlot in¢luded in cost bui a small amount of rent is received annually (see note 31. Plant and equiprnent includes the cost of the new boil¢r5 aTrJ the upgraded alarm SYsm. 10
DORKING CHARITY NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST DECEMBER 2023 INVESTMENTS Listed Investments MARKET VALUE Ai I" January 2023 Additions Revaluaiions 519.466 4i,743 39.393 10. DEBTORS 31112ll3 31112n2 Prepayments Other Debtors 3,658 2,377 1,903 4.279 11. CREDITORS Amuun¢s f#llin8 due withln ont yr 31112r23 31112122 Other creditors 1.712 3.179 12. RESERVES GeNerl Fund Trust Fund C)eliel Repairs Reserve 2023 TOTAL 2022 TOTAL At151 January Income Expenses 1,408,542 10,749 192.195 (159,219) 16J38 1.435.629 1,514.203 192.195 151.465 (159219) (146,4671 Revaluaiion of investments 38.802 591 39.393 (82,5721 At 3 1¥ Dwemb¢r 1480320 11340 16 388 1507 998 1435 629 The Cyclical Rq)air5 Rcserve was sel up to provide for those itetll5 of ordinary maintenance and repair of the Almshouses and other property re¢urring at infr¢queni intetwals.