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|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|
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||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|
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##
|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|