WOODTOIY UNITED CHARITIES FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER 2023 RECEIVED 15 JUL 2024 NEIVMAN & CO Newman & Co Chartered Accountants 7 Hungate Beccles Suffolk NR34 9TT WOODTON UNITED CHARITIES INDEX PAGE Legal and Administrative Information Report of the Trustees Revenue Account Balance Sheet Notes to the Financial Statements 8-10 Accountant's Report WOODTON UNITED CHARITIES LEGAL AND ADMINISTRA TIVE INFORMATION NAME: WOODTON iThITED CHARITIES REGISTERED NUMBER.. 207531 TRUSTEES: Mr. l. Butler Mr. M. Wickstead Mrs. R. Knights Mr. M. Beckett Mr. A. Mccrostie Mrs.A. Phillips - resigned 7.11.23 Mr. G. Boon Mr. C. Wells REGISTERED OFFICE: 2 Tensing Street Woodion Bungay Suffolk NR35 2NL BANKERS: Barclays. Leicester CCLA HSBC Queen Victoria Street London EC4N 2TR LE87 2BB ACCOUNTANTS.. Newman & Co 7 14ungate Beccles Suffolk NR34 9TT Page I WOODTON UNITED CHARITIES REPORT OF THE TRUSTEES COMMITTEE OF MANAGEMENT Trustees - Noininated Mr. l. ButleT. - Co-opted - Mrs. R. Knights, Mr. M. Beckett, Mr. G. Boon Mr. A. McCTOStie, Mrs. A. Calder. Mi.. l. Butlei., Mr M. Wickstead, Mi. C Wells - Mr. l. Butler - Mr. A. Mccrostie - Mrs. R. Knights - A. Calder Chairinan Vice Chainnan Treasurer Secretary STATEMENT OF RESPONSIBILITIES OF THE COMMITTEE Charity law requires the Cominittee of Management to prepaTe accounts for each financial year which give a true and fair view of the assets and current liabilities of the Charity and of the income and expenditwe of the Charity for that period. In preparing those accounts, the Coinmittee are required to.. select suilable accounting policies and then apply them consistently make judgements and estimates that are reasonable and prudent stale whether applicable accounltng standards have been followed, subject to any material departures disclosed and explained in the accounts prepare the accounts on the going concern basis unless il is inappropriate to presume that the Charity will conlinue in business The Charity must cause propel. accounting records to be kept and establish and maintain systems of control of it's business and records and of inspection and report. The accounting records must show and explain the transactions of the Charity and disclose with reasonable accuracy and proinplness the financial position of the Charity at any time. The accounting records and the systems of control and of inspection and report inust: enable the Committee of Management properly to discharge the duties imposed on them by or under the Charities Act 1993 (including ensuring that the Accounts comply with the Charities Act 1993 and regulations made under il} and their function of direction of the affairs of the Charity. and enable the Charity properly to discharge the duties iinposed on it or under the Charities Act 1993. Hence, the Committee of Management is responsible for safeguarding the assets and taking reasonable step5 for the prevention and detection of fraud and other irregularitles. PRINCIPAL OBJECTIVES The primary objective of Woodion United Charities is to provide relief for those in need within the Parish of Woodton. The Trustees are also coinmitted to continuously reviewing the Charity's assets to ensure they provide the best relurn for the restdents of Woodton, both now and in the future. Page 2 WOODTON UNITED CHARITIES REPORT OF THE TRUSTEES REVIEW OF THE CHARITY'S ACTIVITIES FOR THE YEAR OBJECTIVES AND ACTIVITIES The priiT]ary objective of Woodton United Charities is to provide rellef for those in need within the Parish of Woodton. Tlie Cliai ities i'eceiwe ii)LOlI)e fi'oiii agi'iiuliui'&l laiid iii G¢ld¢blvii aiid fi'uii) vai.iuus flliaticial ijivesliiiei)Is. Tli¥ Trustees apply thi5 income for relief of need through activities including.. Providing financial support to individuals and fainilies in times of hardship aTtd crisis Distributing annual grants each Christmas to pensioners, disabled and infirni people, and others on low incomes. Allocating grants to young people embarking on apprenticeships or courses in fiJrther OT higher education Providing grants towards the funeral expenses of p¢opl¢ who lived in the village Providing fInancial support to Woodion Helpline, a network of volunteers who help local people by providing transport for hospital vislts, doctor's appointments, etc. The Trnstees are also committed to continuously reviewing the Charity's assets to ensure they provide the best return for the residents of Woodton, both now and in the future. HISTORICAL BACKGROUND Woodton United Charities was set up in 191 O to combine the following individual charities set up by local benefactors: The Charity of Nicholas Wilton, which dates back to 1665 Thomas Bardwell's Gift, dating from 1719 The Moyse Charity> dating from 1705 In 191 I, these three charities were officially grouped under the collective title of Woodton United Charities. Woodton Uiiited Charities Trust is regulated by a Charity CoitJiniS5ion Scheme set up in 1990 and now includes a fourth charity, tlie Lt Gurden Lee Meinorial Charity, which dates froin 1917. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity Commission scheme of1990 makes provision for five Trustees.. The Vicar of Woodton, who acts as Ex-officio Trustee Two Trustees who are nominated by the Parish Council Two Trustees who are co-opted by the other Trustees This provision was reviewed on 13 March 2017, when it was agreed that the nuinber of Trustee5 should be increased to seven in order to cope with the current workload. Tenns of office are four years for Nominated Trust¢e5 and five years for Co-opted Trustee. The Trustees hold two ordinary meetings a year, plus special meetings as and when required. Page 3 WOODTON UNITED CHARITIES REPORT OF THE TRUSTEES REVIEW OF THE CHARITY'S ACTIVITIES FOR THE YEAR The r￿st ordinary meeting of the year is the Annual General Meeting. At this meeting.. a Chairperson is appointed for the coming year tlie AÈmLtal Acoouiits foi. ilie pi'ewious yeai., haviiig beei) i'eviewed by the i]idepeiideJit exaAiiiiiei', are formally submitted to the Trustees for their approval. The distribution of annual grants is discussed at the last ordinary Ineeting of the year, which typically takes place a few weeks before Christmas. ACHIEVEMENTS AND PERFORMANCE Throughout the year, grants were issued for a wide range of good causes (see Financial Review below). The Trustees continue to work closely with our land agents, Brown & Co, and our solicitoi's, Leathes Prior, to achieve the best possible return from OUT land assets for the residenls of Woodton. The results for the year and financial position of the Charity are shown in ihe annexed financial statements. During 2023 there were 5 Ordinary meetings. Financial Review Total income for 2023 was £32,754 wilh £6,11 I coining from cash dividends, £943 from interest, £42 from Wayleaves, £14,512 as a Grant from South Norfolk District Council. £110 froin donations and £11,036 from investments, of which £9,650 were reinvested. Grants totalling £8,726 were issued during 2023. These included.. Educalion Granls (£500 in total) Bereaveilieni Gi'anls (£1, 900 IF? lolal) Helping hands gra￿lS (£4, 726 in tolal) Granls niadefoi. helping wilh healing rosls (£1, 150 in tolal) granls made lo local residenls (£1,350 in total) In April 2023, the annual insurance premiuin of £412 was paid for public liability cover on the Charities, land at Gelde5ton. In September 2023, a furtlier payment of £380 was Inade for public liability insurance cover on the Playing field which has now becoine the Charities, responsibility. Page 4 WOODTON UNITED CHARITIES REPORT OF THE TRUSTEES REVIEW OF THE CHARITY'S ACTIVITIES FOR THE YEAR Reserves Policy Sufficient financial reserves are kept readily accessible in order to respond quickly and effectively to crises or other uiiexpebted eveJ)ts affe¢lii)g willage r¢sidei)Is. Aiiy addiiioiial fuiids Iliat al'e i)ot t-equired ui the shoit lo ii)edium teri)I are invested for income and growth in the COIF Charities, Investmeiit Fund run by CCLA. This report was appr yth ommittee of Management on . (Slgned) Chairman- I. Butler Page 5 WOODTON UNITED CHARITIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Notes INCOMING RESOURCES Inw¢slin¢iit Iiicoiii¢ Wayleave Donations Grant from South Norfolk District Council 18.090 42 110 16,124 42 14,512 £32,754 £16,166 RESOURCES EXPEIYDED Cost of generating funds.. Direct Charitable Expenditure Manageinent and Adiniiiistration Costs Reinvested funds 8,726 10,153 18,691 9,650 6,030 8.258 37,067 24,441 NET (EXPENDITURE) FOR THE YEAR (4,313) (8,275) N¢t Moveinent in Cash Funds (4,313) (8,275) Increase/(Decrease) in Value of Investments 21,354 (43,091) Total Funds at l January 2023 387,367 43 8,733 TOTAL FUNDS AT 31 DECEMBER 2023 £404,408 £387,367 Page 6 WOODTON UNITED CHARITIES BALANCE SHEET AS AT DECEMBER 2023 2023 2022 Notes INVESTMENTS coir sliai'es Blackrock Investment Nucleus Financial Group Changing Rooin at FC Playing Field 203,880 202,345 142,377 2,500 10,260 215.892 150,184 2.500 10.260 601.451 561,362 CURRENT ASSETS Bank Accounts Deposit Accounts 14,514 1,658 4,764 25,721 26,172 30,485 CURRENT LIABILITIES Amounts falling due within one year 600 540 25,572 29,885 NET ASSETS £627,023 £591,247 REPRESENTED BY: CAPITAL FUNDS EndowiY]ents 222.615 203,880 INCOME FUNDS 404,408 387,367 £627,023 £591,247 Approve oard of Trustees on and signed on it's behalf by . Trustee Page 7 WOODTON UNITED CHARITIES NOTES TO THE FINAf4CIAL STATEMEP4TS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTJNG POLICIES a) Accounting Convention The fmancial statements have been prepared in accordance with the provisions of Section l A "Small Entities, of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK & Republic of Ireland" the Companies Act 2006 & the Slalement of Recominended Practice Accounting & Reporting by Charities issued in March 2005. The financial statements have been pi-epared uiider tlie historical cost conveiitioii. b) Investment Income Investrnenl income is accounted for in the period in which the Charity is entitled to receipt. c) Fixed Asset Investments The Investments are Fixed Capital investments. The interest generakd is shown as investment income. INVESTMENT INCOME 2023 2022 Dividends Bank Interest Investment income 6,111 943 11,036 6,088 299 9,737 £18,090 £16,124 3. DIRECT CHARITABLE EXPENDITURE 2023 2022 Grants £8,726 £10,153 4, MANAGEMENT AND ADMIIYIST114TION COSTS 2023 2022 Administration Accountants Remuneration Insurance Repairs Professional Fees Bank Charges Investinent expenses 200 660 793 11,213 4,304 135 1,386 600 779 834 2,226 132 ,459 £18,691 £6,030 Page 8 WOODTON UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD Ef4DED 31 DECEMBER 2023 ENDOWMENTS 2023 2022 (a) COIF Shal'es 2,958.67 units at valualion - 31.12.22 35.599 1 ,958.67 units at valuation- 31.12.23 38,870 MOVEMENT IN VALUE £3,271 (b) COIF Permanent Shares 9,258.99 units at valuation - 31.12.22 168,281 9,258.99 units at valuation - 31.12.23 183,745 MOVEMENT IN VALUE 15,464 Page 9 WOODTON UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 INVESTMENTS 2023 2022 (a) Blackrock Investment 25,571.80 units at valuation 31.12.22 202,345 25,571.80 units at valuation 31.12.23 215,892 MOVEMENT IN VALUE £13,547 (b) Nueleus Financial N355154 Account value at 31.12.22 70,577 Account value at 31.12.23 74,015 MOVEMENT IN VALUE £3,438 (e) Nueleus Financial N355155 Account value at 31.12.22 71,800 Account value at 31.12.23 76,169 MOVEMENT IN VALUE £4,369 Page 10 INDEPENDENT EXAMINER?S REPORT TO THE TRUSTEES OF WOODTON UNITED CHARITIES I report on the accounts of the Charity for the year ended 31" December 2023, which are set out on pages I to l O. Respective respoJ)sibilities of Trustees and Exalljiner The charity's trustees are Tesponsible for the PTeparation of the accounts. The charity's trustees consider thal an audit is not required for this year under Section 144 of the ChaTlties Act 2011 (the charities Act} and that an independent examination is needed. It is my responsibilily to.. examine the accounts under Section 145 of the charities act; to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Seclion 145(5){b) of the charities Act),. and to state whether particular matters have come to iny attention Basis of Independent Examiner's Report My examination was carried out in accordance with the General Directions given by the Charity Cominissioners. An exftininatir>n in¢liJdes a review nf the Accoiinting reci)rd% kept by the charity and a cnmparisc>n nf the accr>untq presented with those records. It also includes consideration of any unusual terms or dis¢losur¢s in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedur¢s und¢rtaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true & fair" view & the report is limited to those matters set out in the statement below, Independent Examiner's Statement In connection with my examination, no matter has come to my attention: {]) which gives me reasonable cause to believe that in any inaierial respect the requirements to keep accounting records in accordance with Seclion 130 of the charities Act; and to prcparc accounts which accord with ihe accouiiling records and comply wilh the accounting rcquirements of the chai'ities Act have noi been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Leslie Robert Newman FCA Newman & Co Chartered Accountants 7 Hungate Beccles Suffolk NR34 9rr Date= IbA 1130>4 Page 11