2023-01-31-accounts

Trustees
The Trustees during the year and	their appointing	body were as follows:-
Mr Martin J Kelleway		Co-optative	Trustee
Rev Mike Vipond		Co-optative	Trustee
Dr Charles Wright (Ceased 14		Co-optative	Trustee
Mrs Nicola Warner		Co-optative	Trustee
Mrs Jane Blore		Co-optative	Trustee
Mr James Robbins		Co-optative	Trustee
Mr Timothy M P Donsworth		Co-optative	Trustee
Mr James R Tanner		Framlingham	Town Council
Dr Ruth Bushaway (Appointed	14March 2022)	Co-optative	Trustee

	Note	Total	Total
		Funds	Funds
		2023	2022
		6	6
Fixed Assets
Tangible assets Freehold land 8 buildings		3,548,297	3,523,281
Plant 5equipment Investments		434 6,229,398	868 5,960,426
		9,778,129	9,484,575
Current Assets
Debtors		26,283	20,302
Cash in bank and in hand
Bank accounts		118,668	298,779
		144,951	319,081
Current Liabilities	10	48,508	30,250
Net Current Assets			288,831
Total Assets less Current Liabilities		9,874,572	9,773,406
The Funds ofthe Charity
Endowment funds	13	8,503,040	8,583,644
Restricted funds	14	287,240	303,574
Unrestricted funds	16	1,084,292	886,188
		9,874,572	9,773,406

			Note	Unrestricted	Unrestricted	Restricted	Restricted	Endowment	Endowment		Total	Total
					Funds		Funds		Funds		Funds	Funds
											2023	2022
											5	8
Income and endowments		from
Investments			18	138,618			291				138,909	104,083
Charitable activities
Rents &wayleaves				223,437							223,437	201,735
Grants												300,000
Total Income				362,055			291				362,346	605,818
Expenditure on
Raising funds
Investmenl management									34,629		34,629	31,002
Charitable activities
Almshouses			19	118,694			493				119;187	106,295
Let property expenses Grants - relief in need			19 22		17,253 5,769						17,253 5,769	191,055 4,014
Grants - general benefit			20		12,374		12,961				25,335	9,492
Total expenditure							13,454		34,629		202,173	341,858
Operating surplus				207,965			(13,163)		(34,629)		160,173	263,960
Net gains &(losses) on investments:
Realised									(48,646)		(48,646)	66,401
Unrealised							(3,171)		(7,190)		(10,361)	238,527
Gains on revaluation	ofassets											625,000
Net Income				207,965			(16,334)		(90,465)		101,166	1,193,888
Transfers between	funds				(9,861)
Net movement in funds				198,104			(16,334)		(80,604)		101,166	1,193,888
Reconciliation offunds:
Total funds brought	forward			886,188			303,574	8,583,644			9,773,406	8,579,518
Total funds carried forward			17	1,084,292			287,240	8,503,040			9,874,572	9,773,405
The notes on page	14to 23form		part ofthese		accounts.
Approved by the Trustees		on ....Z~r. .../~OQbnd signed nn).7/n ss				on	their behalf	by:
ane Blurs (Ch	airman)							Mr	rt	Kelleway

STATEMENT OF CASH	FLOWS
				2023	2022
		Note		6	6
Cash flows from operating	activities		23	33,975	63,181
Cash flow from investing	activities
Investment income				138,909	104,083
Fixed asset additions				(25,016)	(228,955)
Purchases and sale of investments				22,021	28,703
Movement between investments and cash and cash			equivalents	(350,000)	(100,000)
				(214,086)	(196,169)
Decrease in cash and cash equivalents				(180,111)	(132,988)
Cash and cash equivalents	at beginning	ofthe year		298,779	431,767
Cash and cash equivalents	at end ofthe year			118,668	298,779

Fees for audit ofthe accounts	Fees for audit ofthe accounts			2023	2022
				E	F
Auditors fee	for reporting on the	accounts and provision	ofservices	9,000	6,243
Accountancy	fee for preparation	ofyear end accounts		9,000	6,243

FOR THE YEAR ENDED 31 JA	FOR THE YEAR ENDED 31 JA	FOR THE YEAR ENDED 31 JA	N	UARY 2023	UARY 2023	UARY 2023
c) Stock exchange investments				comprise					2023 F					2022 6
Holding of more than 5%oftotal COIF Charities Investment Fund					investments:				287,240					290,412
UK									1,417,327				1,327,569
Europe North America									277,225 861,679					841,907
Other international									708,306					654,089
Other alternative assets									559,897					529,075
									4,111,674				3,643,052
d) Property investments
Market value brought	forward								980,000					355,000
Revaluation oftransferred		land		and building —Gain										625,000
Market value carried forward									980,000					980,000
The investment properties	brought		forward			consist	of 3 properbes	These properties		were valued			in	July 2022 by
Clarke 8 Simpson on an open histoncal cost basis these would		market have			basis and have been adjusted been included at an original cost				in line with the of8175,536.		revaluation		pohcy. On an
8. Tangible Fixed Assets
									Land &		Plant		&	Total
									Buildings		Equipment
										6			6	5
Cost
At 1 February 2022 Additions									3,523,28'I 25,016		2,641			3,525,922 25,016
Disposals
At 31 January 2023									3,548,297		2,641			3,550,938
Depreciation At 1 February 2022 Charge for the year											1,773 434			1,773 434
Depreciation on disposal
At 31January 2023											2	207		2207
Net book values
At 31January 2022									3 523 281			868		3524 149
At 31 January 2023									3548 297			434		3,548,731

FOR	THE YEAR ENDED 31 JANUARY 2023
9.	Debtors
		2023	2022
		6	6
	Investment income	16,136	13,652
	Prepayments Loan - MEF	10,147	6,125 525
		26,283	20,302
10.	Creditors
	Creditors and accruals	38,465	21,208
	Rental deposits PAYE and NIC	9,312 690	8,362 680
	Loan —MEF	41
		48,508	30,250

and		inv	estments.
						Mills
						Charity	H M Turner	A	T Sheen	2023	2022
						6	6		6	K	6
Balance		at 1 February			2022	8,564,965	18,429		250	8,583,644	7,418,121
Income											300,000
Management			fees			(34,489)	(140)			(34,629)	(31,002)
Reinvested			income			9,861				9,861	1,709
Gains 8		investments
-Realised						(48,646)				(48,646)	66,401
Gains on		revaluation		ofassets							625,000
-Change market	in year end value					(6,499)	(691)			(7,190)	203,415
Balance		at	31 January		2023	8,485,192	17598		250	8,503,040	8,583,644
							19

4. R	estricted funds —Inc	ome funds
		Framlingham Community Centre F	Turner/ Sheen Income	f	Extraordinary Repair Fund f	2023f	2022f
Balance	at 1 February 2022	12,961		202	290,411	303,574	268,469
Income				291		291	393
Additions	in the year
Expenditure				(493)		(493)	(400)
Change	in market value				(3,171)	(3,171)	35,112
Grant —2023 The Bnck Fund		(12,831)				(12,831)
Disposals		(130)				(130)
Balance	at 31 January 2023				287,240	287,240	303,574

Designated Funds	—Income f	unds
			2023	2022
Cyclical maintenance	fund
Balance at 1 February	2022		104,121	102,955
Funds introduced			960	960
Interest allocation from	unrestricted	funds	677	206
Balance at 31 January	2023		105,758	104,121

16. Unrestricted funds
	Designated	Unrestricted	Total Funds	Total Funds
	Fund	Funds	2023	2022
	8	6		6
Balance at 1 February 2022	104,121	782,067	886,188	892,928
Income		362,055	362,055	305,451
Allocation in year	1,637	(1,637)
Fund transfer		(9,861)	(9,861)	(1,735)
Expenditure		(154,090)	(154,090)	(310,456)
Balance at 31 January 2023	105,758	978,534	1,084,292	886,188

17.	Analysis	of net asse	ts	between fun	between fun	between fun	ds
				Designated Funds			Unrestricted Funds	Restricted Funds	Endowment Funds	Total Funds 2023	Total Funds 2022
										6	F
Freehold	land and	buildings					634,298		2,913,999	3,548,297	3,523,281
Plant and equipment							434			434	868
Investment assets							353,117	287,240	5,589,041	6,229,398	5,960,426
Current	assets				105,758		39,193			144,951	319,081
Current	liabilities						(48,508)			(48,508)	(30,250)
					105,758		978,534	287,240	8,503,040	9,874,572	9,773,406
18.	Investment income								2023f		2022 6
	Dividends UK Equities Interest UK Fixed Interest				Securities				64,917 6,030		63,623 5,429
	Interest UK Unit Trusts								13,277		8,563
	Overseas	Securities	-	Dividends					35,982		10,006
	Overseas	Securities	—Interest						3,244		5,652
	Overseas	Securities	—Unit Trusts						304		814
	Interest on Deposits Dividends UK Unit Trusts								757 13,162		42 7,860
	Dividends	Real Estate		investment		Trust			1,236		1,012
	Excess income funds										585
	Accrued	interest									497
									138,909		104,083

19.	Resources expended
	Payments re Almshouses: Rates, electricity, gas & Gardener	water		16,411 7,999	10,319 4,006
	Insurance			3,007	3,091
	Repairs &maintenance & alarms Donations - Turner/ Sheen distribution			22,706 1,200	28,682 400
	Governance and support	costs (note 21)		67,864	59,797
				119,187	106,295
	Let Property: Insurance			2,004	1,947
	General maintenance and property costs Rates and electnc			7,388 245	174,527 1,249
	Professional fees			594	4,788
	Governance and support	costs (note 21)		7,022	8,544
				17,253	191,055
20.	Grants - General Benefit			2023 5	2022 6
	FTFC Youth Section			2,640
	Foamex Board			77
	TMC Vehicle			5,000
	The Scouts Association			500
	Frarnlingharn Hour Community Proiect Framlingham Primary School Badingharn Play School Disposal ofthe Framlingham community centre fund Castle community Rooms —The Brick Fund Governance and support costs (note 21)			130 12831 4,157	50 5,000 648 3,794
				25,335	9,492

21.	Management and adm	inist	ration	—	Support an	d	g	overnanc	e cost	s
														2023	2022
					Alms			Let	Relief in		General			Total	Total
					houses		property		need		benefit
					E					E		E		E	E
	Office costs				7,461			772	458			457		9,148	16,130
	Staff costs				32,432			3,355	1,988		1,988			39,763	34,197
	Travelling Audit and Accountancy Fees Bookkeeping, payroll fee and other Bank charges Insurance				15,758 3,843 113 515			1,630 398 12 53	966 236 7 32			966 235 6 32		19,320 4,712 138 632	156 12,486 3,392 175 2,376
	Professional fees				2,017			209	124			123		2,473	3,635
	Sundry expenses Depreciation ofequipment Advertising				1,497 354 3,874			155 37 401	92 22 238			92 21 237		1,836 434 4,750	2,634 752
	Profit/(loss) on disposal
					67864			7 022	4 163		4,157			83206	75,933
	No. ofproper/ies				29			3						32	32
	The basis of allocation	ofthe above governance				and		support costs were			90'/0 allocated			to alms houses and
	let property based on the number			of dwellings and			5'/0 to each ofthe			grants for		relief	in	need and	general
	benefit.
22.	Grants - relief in need
											2023				2022
											E				f.
	Grants - relief in need										1,606				216
	Governance and support costs (note				21)						4,163				3,798
											5,769				4,014
23.	Cash flow from operating		activities											2023	2022
														F	E
Net	movements in funds												101,166		1 193,888
Depreciation														434	752
(Profit)/ loss on disposal Market value movements													59,007		(304,928)
Investment income													(138,909)		(104,083)
Gains on revalued assets															(625,000)
													21,698		160,629
Increase in debtors														(5,981)	371
Increase/ (decrease) in creditors													18,258		(97,819)
Net	generated used in operating		activities										33,975		63,181

		Unrestricted	Restricted	Endowment	Total	Total
		Funds	Funds	Funds	Funds	Funds
					2022	2021
					5	F
Income and endowments	from
Investments		103,716	367		104,083	95,960
Other Rents &wayleaves Grants		201 735		300,000	201,735 300,000	161,169
Total Income		305,451	367	300,000	605,818	257,129
Expenditure on
Raising funds Investment rnanagernent				31,002	31,002	29,416
Chantable activities
Almshouses Let property expenses Grants - relief in need Grants - general benefit		105,895 191,055 4,014 9,492	400		106,295 191,055 4,014 9,492	66,955 87,533 12,734 62,485
Total expenditure		310,456	400	31,002	341,858	259,123
Net gains &(losses) on investments: Reahsed				66,401	66,401	(80,454)
Unrealised			35,112	203,415	238,527	129,037
Gains on revaluation ofassets				625,000	625,000
Net Income		(5,005)	35,079	1,163,814	1,193,888	46,589
Transfers between funds		(1,735)	26	1,709
Net movement in funds		(6,740)	35,105	1,165,523	1,193,888	46,589
Reconciliation offunds:
Total funds brought forward		892,928	268,469	7,418,121	8,579,518	8,532,929
Total funds carried forward		886,188	303,574	8,583,644	9,773,406	8,579,518