REGISTERED CHARITY NUMBER: 207840
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
THE OLD ENFIELD CHARITABLE TRUST

THE OLD ENFIELD CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Report of the Independent Auditors
Statement of Financial Aetivitits
12
Balanee Sheet
13
Cash Flow Statement
14
Notes to the Financial Statements
15 to 29

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
The trllstees present their report with the financial statements of the charity for the vear ended 31 March 2024. The trustees
have adopted the provisions of Ac¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UtQ and Republic
of Ireland {FRS 102) {effective l January 20191.
OBJECTIVES AND ACTIVITIES
Objective5 and aims
The objects of the Trust are..
To assist those who are in conditions of need, hardship or distress by way of grants, provision of item5, services and
(al in paying for items, services or facilities by way of donations or subscriptions to institutions or organisation5 which
provide them;
(bl for advancement in life, or enabling residents to eam their living by providing clothing, paying fees, travelling or
maintenance expenses.,
(cl in promoting education, including social and physical training.,
(dl in improving the condition of life in the interests of social welfare, facilities for recreation or other leisure time
occupation; and
(el in any other charitsble purposes.
The Trustees have had regard to the Charity Commission guidance on publi¢ benefit while shaping the objeciiv¢s and
activities of the Chariry.
Page I

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
OBJECTIVES AND ACTIVITIES
Grantmaking
The Trust's ability to make grants is depeiideiit on income from investments, properry rents and a surplus from ruiinii)g
Et]field Market and Car Park. Tlie gTeneral financial climate has affected investtnents and although this has been mitigated
by the Trust'5 active management of the balance of the portfolio held in equities and bonds it has still liad a significant
effect.
Grants
Grants are awarded aLross four areas, as suinmarised in the table below, and discussed in tum and iii more detail thereafter.
2023124
112,903
2022123
102,231
500
74,304
7,141
Personal grants
Quarterly grants
Educaiion grants
Community grants
84.272
13.255
210,430
184.476
Personal Granrs
The year to 31 March 2024 saw 113 12023 - 135) people benefit from personal grants awarded totalling £112.903 (2023
£102,231),. the personal grants budget was £1 15,00(I fnr the year. The grants covered a similar range of needs as in previoiis
yeaTS, including bedslbedding, furniture and household appliances.
The Trust's work with other agencies ¢ontinii¢s. including the food bank, to help people who for many different reasons
have been unable to earn an income, and the Council'% Mcntal Health Team who are helping many of their clients set up
home for the first time in the community. The Triist has hclpcd witli grants for hoiisehold items for these referred clients.
In addition, mental health suffereTS in long term care have been lielped with clothing.
Word-of-rnouth and via the Trust's website continues to fom) by far the largest proportion of enquiries, biit the number of
second and subsequeiit reqiiests is constant. The Trust continues to ra15e its profile by promoting itself through social
media.
Applications from various ageiicies on behalf of their clients, including Social Services, One Support, Health Centre's and
Probation Service are at the saime level as last year.
Applications for assistai)ce are alsts received direct from members of the public who are visited and assessed by the Trust's
stal'f. Tl)e Council's Housing, Social Servitts Teams and schools Lontinue to give the Trust's details to their elients who
ale being re-housed or ale in need ol. items that cannot 01 are not piovided by the Council under their statutory
responsibility. The Trust is pleased to help these residents, but ctsncems ren)ain about the decorative Londition of some of
the properties. which require considerdble attention.
Educaiion Grants
Applicaiions for education grants were consistent throughout the year, and the budget for education grants was £100,iwo.
The year ended 31 March 2024 saw 44 (2023 54) peliple benefit from educarion grants awarded totalling £84,272 (2023
£74,304).
Grants were given across a whole spectrum of courses where no other source of funding was available. Trustees continue to
take the view that applicants who apply for a grant should have insiifficient income, or insufficicnt i)ther nieans of funding,
to undertake their COiiTses. Stiidents sliould apply to the colleges, Access or S￿dent support funds, or apply for student
loans, before approaching the Trnst. However, Triistees gre mindful that a contribution from the frust often makes li
possible for the students to start or continue with a course.
Page 2

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
OBJECTIVES AND ACTIVITIES
The work and progress of the stlldeni is monitored throughout the course, and end of term reports received from tutors
trigger payn)ent of the next instalment of the grant. Payment by term of grants is conditional on receipt of satisfactory
reports.
Communi
Grants
The committee awarded a ttstal of £13,255 of comTnunity ¥rants in year ended 31 March 2024 {2023 £7,141),. the
Ltstnmunity ¥rants budget was £15,0(X) for the year. Comtnuiiity Grants were awarded to Boys Brigade, Love Your
Doorstep Cominunity. Enfield Voluiiteer Police Cadets, Proud Enfield, Food Bank and Parade of Ligl)ts.
A lications from within the Ancient Parish of Enfield
The Cri￿rIa for grdni making are set out in the Trusi's scheme; beneficiaries should be resident in the Ancient Parish of
Enfield and in need. The Trust has authoriry to make grants in the areas of general need. education and the community.
Trustees would not usually consider more than one grant for any applicant in a financial year. bui exeepiions are made,
according to circumstances. Each application is considered on its own merits and each grant making committee has certain
benchmarks it uses in agreeing a grant. Generall)., Trustees would wish to see that applicants are attempting 10 help
Ihemselves and avoid making repeated grants to Ihe same applicanL which may encourage dependency.
A licaiions outside of the Ancient Parish of Enfield
A small number of appli¢ations are received dire¢ily from Enfield residents who live outside of Ihe An¢ient Parish of
Enfield (APE). Wliere possible, staff refer thein to anoiher Chariry or organisation that can help them. We continue to build
a list of such con6qcts and to widen our knowledge in this area.
Fiiture Plans
We will continue to prioritise our engageTnent in education and comTnunity grants, with an emphasis on household needs.
ACHIEVEMENT AND PERFORMANCE
Going concern
After making appropriate enqiiiries: the Trustees have a reasonable expectation that the Charity has adequate resource5 to
continue in operational existence for the foreseeable future. For this rea50n, they continue to adopt the gToing concern basis
in preparing the financial statements. Further details regarding the adoption of the going conceln basis can be found in the
Accounting Policies.
Key finaneial performanee indieators
The Trust's key Iinancial perfomiance indicator is lis perfomance against lis budget. The Trusi's Finance Commiitee meei
quarterly and in doing so review the Trusi's financial perfomiance. including that of investh)ents, against budget. All
investments held by ihe Trust are in accordance with Ihe powers available to the Trustees.
Income generation
The Trust's incoine is raised through investments dividends, property rents. the market and car park.
All investments held by the Trust are in accordance with the powers available 10 the Trustees and have been thoroughly
reviewed this year.
Page 3

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
ACHIEVEMENT AND PERFORMAIYCE
Inves¢m¢nl policy and p¢rforman¢e
The Trnst's investments at 31 March 2024 totalled £3,155,139 (2023 £3,085,986) invested approximatel J. 600/0 in equities
and 400/0 in bonds.
The Trust's investment policy is generally not to allom. interest and dividends from investments to accumulate, but to use it
in fulfillinu the T￿St'S charitable objects. This practice coi)tinues, Subject to annual review.
In addition, the Trust'5 investTnent properties at 31 March 2024 were valued at £4,140,000 {2023 £4,635,000). The rentals
that are received from the investnient properties are used to Inake charitable urants and cover runnin¥ costs.
FINANCIAL REVIEW
Revivw vf financiMI activities
The charity'5 fin(InLial positioii is set out in the statement of financial activities, together with the balance sheet and notes to
tl)e Iinancial statements.
Total income eamed was £657,588 {?023 - £666,7?61 against iotal expenditure at £625.254 (20?3 - £608,888). This
resulted in a surplus of £32,i34 12023 £57,8J8), before revaluaiions of investments. In addition, there was a fall of
£425,847 {202)
£162,113} in the market value of investments during the year. An overall deficit of £393,513 (2023
£104 ?75) resulted.
As referred to above, there was a fall in the market of investments, made up of £497,958 on the endowment fund and
partiallv offset by a rise in the value of investments on the unrestricted fund of £72,11 l. Of the fall relating to the
endowment fund, £495,000 relatss to the revaluation of the investment properties held,. reflecting the pressure of market
Clinditions.
The Tn]stees confirm that the anti¢ipatcd income from Permanent Endnwments. together with the balance of unrestricted
funds currently availahle, should be adcquaie to fulfil the fi]ttire obligations of the Trust.
Financial risk management Objectiv￿ and policies
The -I"ru%t rcgularl}' rcvicws its prncediires to niinimise risk to its assets and in¢ome, and to ensure that where risks are
identified, procedure% are in place to obviate them as far as possible. The principal risks and uncertainties facing the
Charity have been identified as th¢ fluctuation of rental income and investment returns. The Trustees have considcr¢d th¢
investment poli¢y and ar¢ satisfied that the risk has been minimis¢d.
Page 4

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
FINANCIAL REVIEW
Mal¢rial investment policy
The Trust own5 the following endowed freehold properties..
The Market Place
The Kings Head Public House
20 The Town (Barclays Bank)
21 The Tom'n (Gray5 Newsagent)
22 The Town (Old Vestry Offices)- the Trust's offices
Tliese proptrtie5, coniprisiii¥ the ancient niarket Place and surrounding building5, are regarded bj. the fru5tee5 a5 beiii¥
historic a5Sets, and inalienable in PfclCtiLe. How'ever, the Old Vestry Office is the Trust's offices, and a5 a fuiictional
property is capitdli5ed and included in the Trust's accounts. All other properties, otl)er than the Market Place, art regarded
as investinent propertle5. They are Cclpltdlised within the BalanLe Sheet and are shown at market value. Further inforrnation
18 given in the notes 10 the financial s￿len1ents.
Polic
for Dis
osal and Ae
uisition of Pro
eflies
The purpose of holding these properties is to generate funds to furiher the purpose of the Trust. Thev are treated as part of
the permanent endowment fund and thus held permanently by the Trust. As part of the Trust's review of investments, it
was agreed not to invest in any more properties at Ihis stage.
Enfield Market
The Enfield Market takes place three days per week in the Market Plgce gnd provides a income for the Trllst. On the
remaining M'eekdavs, the Market Pla¢e is used as a car park, for which ¢harges are made, and therefore provides further
income for the Trust.
Since 2019, a Market Place Manager has been in place to manage the Market within the policies set by the Tn]stee5'
Market Cominittee. The trllstees continue to consider the regeneration of the inarket by looking at alternative methods of
opeTatinu5 jt.
Reserve5 policy
The TnJ5t holds reserve5 to mitibFate the impact of unexpected drop5 in income, to maintain workiiig capital leve15, and to
et)able it to ieact to any significant andlor unexpected events.
The level of 'free reserves, the Tiustees deem suitable to hold lor the matters detailed above is equal to between three ai)d
six months, Worth of 'operational expenditure,. The Trustees Lonsider free reserves to coi)stitute total ui)restricted funds less
tangible fixed assets and fixed asset investments, and operational expenditure to constitute total expeiiditure less grant
funding of activities. The Trust held free reserves of £207,294 12023 £168,593) ai the year-end. With the current
budgeted level of operaiional expendiiure, Ihe Trustees are content that the level of the free reserves held ai the year-end is
adequa￿ in order to meei the requirements of its reserves policy.
Pay policy for senior staff
The salaries of the staff of The Old Enfield Charitable Trust are regularlv benchmarked by the Trustees against similar
roles within organisations that engage in similar activities in order to attraci highly qualified staff.
STRUCTURF., GOVERNANCE Af4D MANAGEMENT
Governing document
The chariry is controlled by ils governing document, a deed L)f trust and constirutes an uninconx)rated charity.
Page 5

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity ¢on5titution
The governiii(T docun)ent is the Charity Coinn)ission Scheme dated 30th March 1994, which amalgamated the former
Enfield Parochial Charity, and The Hundred Acres Charit),.
The Trust Is for the benefit of the residents of the Aiicient Parish of Enfield. Exceptionally the T￿st may help residents
(generally or individually) who are resident immediately outside of the Ancient Parish.
Trustees
Tlie Inana¥ement of the Charity is the responsibility of the Trustees who are elected and co-opted under the tem15 of the
Cliaritv Commission Scheme.
There are 15 Trnstees, four Nominated and eleven Co-opted, M'ho through resideiiee, occupation, employinent, or
otherwise, have 5peciali5t knowledge Of the AtJLient Parish of Enfitld.
Non)inated TrUS￿e$
Two are nominated bv the Council of the London Borough of Enfield, and two by the Vicar and Church wardens of the
Ecclesiastical Parish of St Andrew, Enfield. Each appointment is made for a term of four years ai a meeting convened and
held according to the ordinary practice of the appointing body. The persons appointed may be, bui need not be. a member
of the appointing body.
Co-o
ted Trustees
Co-opted Trustees are appointed for a temi of five years by a resolution of the Trustees passed at a specigl meeting.
A list of Trnste¢s showing office held and committee membership during the year is shoivn in the report of the tN%tee%.
The Trnstee% are all voluT]teers, and as such, are not remunerated, either for their contribution of time. or their out of pocket
expenses. They Set the Trust'5 policies and supervise its operations. Tliey are accountable for its perfonnance and adherence
to legal requirements, biit depend on a c105e and effective relationship with their paid staff, whose commitment aiid skills
are reflected in the Trust's continuing progre55. The nature of the Trust's opeTation5 doe5 not at present requiTe tlie
involvement of other volunteers.
Organisational structure and decision making
Trust Mana
er and Clerk
The Trust Manager and Clerk to the Trustees is Bindva Amin. The Trnst's day-to-day buginess is Co-ordinated by the Trust
Manager, as appropriate, in consultation with the Chairnian.
Administraiion of the Trusi
Administration of the Trust is carried out by commiitees for Finance, Market. Human Resources, Development, Personal
Grants and Education Grants. These committees are made up of appropriate trustees and staff and report to the main board
on a quai'terly basis.
Induction and training of trustees
Appropriate training is made available to new Trustees according 10 need. Each new Trustee is issued with an information
pack at appointmeni.
Related parties
The Trustees are also Trustees of Ann Crowe's and Wright's Almshouse Charity which is a Charity in its own right. The
Old Enfield Charitable T￿st adininisters tlie Iwo sets of Almshouses and an administration cliarge of £10,572 (2023
£9,650) w95 inade for this purpose during the year.
Risk managernent
The Triist regularl}. reviews its procedures to minimise risk to its assets and income, and to ensure that where risks ar¢
identified, procedures are in place to obviate them as far as possible.
Page 6

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRVSTEES
FOR THE YEAR ENDED31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
207840
Principal addre55
The Old Vestrj. Office
22 The Tom'n
Eiifield
EN2 6LT
Trustees
Mr5 S J Attwood JP Chair of Trustees
J Tanner Ifroin 14.5.24 Vice-chair of Trustees)
Cllr M Rye
C Parker (to 14.5.24 Vice-chair of Trusieeg)
Ms S Doran
GSHill
Ms A Whitehom
J F McGrath
N Thompson (resigned 1.8.2023)
Ms C Byamukama
N B Maunder TaylL)r
Dr P O'mahony
J Eustance
H Yusuf (resigned 15.5.2024)
P Edwards
D Hargreaves {appointed 27.11.2023)
Ms G Needs (appointed 15.5.2024)
Auditors
Keelings Limited
Sta￿tOry Auditors, Chartered Tax Advisers
and Chartered Certified Accountat]ts
Broad House
l The Broadway
Old Hatfield
Hertfordshire
AL9 5BG
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the lii)ancial statements in a¢cordanLe with
applicable law aiid Unittd Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales. Ihe Charities Act 2011, Charity (Accounis and Reports) Regulations
2008 and the provisions of the trust deed requires the trustees 10 prepare financial sta￿InentS for each financial year which
give a true and fair view of the slate of aftairs of the charity and of the incoming resources and applicaiion ol. resources,
including the income and expenditure, of the charity for thai period. In preparing Ihose financial statements, the trustees are
required to
select suitable accounting policies and then apply them consistently,.
observe the methods and principles in the Charity SORP.
make judgements and estimates thai are reasonable and prL]dent'
state whether applicable accounting standards have been followed, subject to any material depgrtur¢s disclosed and
explained in the financial statements,.
prepare the fiiiancial statements on the going concern basis unless it is inappropriate to presume that the ¢harity will
continue in business.
Page 7

THE OLD ENFIELD CHARITABLE TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES- continued
111 50 far a5 the Trustees are aware..
there is no relevani audit information of which the Charity's auditor is unaware.. and
the Trustees have taken all steps that they ought to have taken to inake theinselves aware of any relevant audit
inforniation and to establish that the auditor is aware of that information.
Approved by order of tl)e board of t￿SleeS on 30 September 2024 and signed on its behalf by..
Mrs S J Attwood JP- Trustee
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE OLD ENFIELD CHARITABLE TRUST
Opinion
We have audited the financial statements of The Old Enfield Charitable Trus1 (the 'chgrity') for the year ended
31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheei, the Cash Flow Statement and
notes to the financial statements, including a SummE￿Y of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United
tQingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a tnje aiid fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and
applicatioii of resources, for the year then ended,.
have been properly prepared in acLordance with United Kingdom Generally Accepted Accountin¥ Practice; and
have been prepared in aLLordanLe m.ith the rtquireinent5 of the Charities Act 2011.
B#515 for upinion
We conducted our audii in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilities under those standards are further described in the Audiiors. responsibiliiies for the audit of the financial
stateinenrs section of our report. We are independent ol. the charity in accordance with the ethical requiremenis that are
relevant to our audit of the financial statemei)ts ii) the UK. including the FRC'S Ethical Standard, and we have fulfilled our
other ethical respoi)sibiliiies in accordance with these requirements. We believe that the audit evidence we have obtained
is suITicieni and appropriaie to provide a basis for our opinion.
Conelusions relatin£ to goin£ concern
In auditing the financial statements, we have Clincluded that the irustees, use of the going concern basis of accounting in the
preparation of the financial statements is appropriaie.
B&sed on the work we have performed, we have not identified any material uncertainiies relating to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a
period of at least twelve months from when the financial statements are authorised flir issue.
Our responsibilities and the responsibilities of the trustees with respect to going conc¢m are described in the relevani
se¢iions of thi£ report.
Other information
The trnstccs are responsible for the other infomiation. The other information Comprises the information included in the
Annual Report, other tlian the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial ststement5 does not cover the other infomiation and, except to the extent otherwise explicitly
stated in our report, we do not express any forn] of assurance conclusion thereon.
In connection with our audit of tlie financial Statements, our responsibility 15 tts read the other infomiation and, in doing so,
ctsnsider whether the other information is materially inconsistent witli tlie financial stateinent5 or our knowledge obtained
in the audit or otherwise appears to be Inaterially misstated. If we identify such material inLon5lStencies or apparent
material misstatements. we are required to determine whether this gives rise to a inateiial n)isstatemtnt in the financial
statements themselves. If, based on the work we have perfotn)ed, w'e conclude that there is a inaterial inisstatement of this
other infonnation. we are requiied to report that fact. We l)ave nothing to report in this regard.
Matters on which we are required to report by exeeption
We have noihing io report in respect of the tollowing maiters where the Chariiies (Accounts and Rewrts) Regulations 2008
requires us to report to }'ou if, in our opinion-.
the inflimiaiion given in the Report of the Trustees is inconsistent in any material respect wilh the financial statements.,
or
sufficient accounting records have not b¢en kept,. or
the financial statcments are not in agreement with the accounting records and rethrns. or
we have not received all the inforniation and explanations we require for our audit.
Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE OLD ENFIELD CHARITABLE TRUST
Responsibilities of trustees
As explained more fully in the Siatement of Trustees, Responsibiliiies, the trustees are responsible for the preparation of the
financial statements which give a true and fair view, and for siich internal control as the trustees deterniine is necessary to
enable the preparation of financial statements Ihat are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trllstees aTe responsible for assessing the charity's ability to continue as a going
concern, disclosing, as applicable, matters related to twoing conceTn and using the going concern basi5 of accounting unless
the trllstees either intend to liquidate the charity or to cease operations, or have no realistic alternative bui to do so.
Our re5pon5ibilitie5 for the audit of the finaneial statements
We have been appointed a5 auditors under Section 144 of the Charities Act 201 l and report in accordance with the Act and
relevant regulations made or Iiavin¥ effect thereunder.
Our objectives are to obtain reasonable assurance about whetl)er the fii)ancial stateinents as a whole are free from n)aterial
mi55tdtemtnt, whether due to fraud or error, and to 155ue a Report of tl)e Independent Auditor5 that incliide5 our opinion.
Reasonablt assuraiice is a hiu
level of assiirance, but is not a guarantee that an audit Ltsnducted in acLordance with ISAS
(UK) will always detect a material misstatement when it exists. Misstatements can arise froin fraud or error and are
considered Inaterial if, individually or in tl)e aggregate, they could reasonably be expected to intluence the econoinic
decisions of users taken on the basis of these financial sta￿MentS.
Irregulariiies, iiicluding fraud. are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting I￿egular1t1es. including fraud is detailed below..
We gained an understanding of the legal and regulatL)ry framework applicable to the Eniity and the industry in M,hieh it
operates and considered the risk of acts b}, Management and which were contrary to applicable laws and regulations.
including fraud. These included, but Th'ere not limited to, compliance with Financial Reporting Framework FRS 102,
Charities Act 2011, General Data Protection Regulations, and applicable Health and Safety and Employment Legislation.
We made enquiries of the Trustees of the Charity to obtain further understanding of the risks of non-compliance. We
focused on la1￿.$ and regulations that could give rise to a matcrial misstatcmcnt iii the financial siatements. Our tests
included, but were not limited to..
agreement of the financial statement dis¢losures to underlying supporting documentation.,
¢nqlliries of Management regarding know'n or su%pcct¢d in%tan¢¢s of non-complian¢e with laws and regulations,.
review of minutes of the Trustcc meetings throughout the year.
obtaining an under%tanding of the control environment in pla¢e to prevent and detect irreglllarities.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising
that the risk of not detectiniT a material inisstateineiit due to fraud is higFlier than the risk of not detectings one re5ultingF from
error. Because of tl)e inhereiit liinitations of an aiidit, there is a risk tl)at we will not detect all iTre&Tularities, includingF those
leadiiig to a material Inisstateinent in the financial statements or non-compliance with re¥ulatioii. This risk increases the
more that compliance with a law or regulation is reinoved from the events and transactions reflected in the financial
statements, as we will be less likel), to become aware of instances of non-COTnpliance. The risk 15 also greater regarding
itTegularities OCCUTring due to fraud rather than etTor, as fraud involve5 intentional concealment, forgery, collusioii,
omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website ai www.frc.org.uklauditorsresponsibilities. This description forms part of our Repori of the Independeni
Auditors.
Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE OLD ENFIELD CHARITABLE TRUST
Use of our report
This report is made solely to the charity's trustees, as a body. in accordance NTrith Part 4 of the Charities (Accounts and
Reports} Regulations 2008. Our audit work has been undertaken so that we mighi state to the charitv's trustees those
Inatters we are iequired to state to then) in an auditors, report and for no other purpose. To the lullest extent peimitted by
law, M".e do not accept or assume responsibility to anyone other than th¢ charity and the charity's trusiees as a body, for
our audii work, for this report. or for Ihe opinions ￿'e have formed.
Keeling5 Limited
Statutory, AuditOTS, Chanered Tax Advisers
and Chartered Certified Accountants
Broad House
l The Broadway
Old Hatfield
Hertford5hire
AL9 5BG
30 Septen)ber 2024
Pagell

THE OLD ENFIELD CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED31 MARCH 2024
2024
Total
funds
2023
Total
fiinds
Unrestricted
fund
Endowment
funds
Notes
INCOME AND ENDOWMENTS FROM
DonatlOll5 and le(Tacies
lJ56
lJ56
Other tradin¥ activities
IiivestTnent income
Other incoine
510,960
129,700
510,960
129,700
15,572
531,281
120,795
Total
657 S88
6S7 588
666 7?6
EXPF.NDITURF. ON
Charitxble activities
Grant5 payable
Market place
Car park
332,816
254,656
3,596
2,294
310
336,412
256,950
308,625
260,634
Total
019,054
6,200
625,254
608.888
Net income before net gainsl(losses) on investments
38.534
(6.200)
32J34
57,838
Net gainsl(losses) on investments
72.111
497,958)
425,847
162,113)
NET INCOMEI(EXPENDITURE)
110.645
(504,158)
(393,513)
{104,275)
RECONCILIATION OF FUNDS
Toial funds broughi forward
1,968.621
6.195,453
8,164.074
8,268.349
TOTAL FUNDS CARRIED FORWARD
2,079 266
5 691,295
7 770J61
8,164 074
The notes forni part of these financial Statements
Page 12

THE OLD ENFIELD CHARITABLE TRUST
BALANCE SHEET
31 MARCH 2024
2024
Total
funds
2023
Total
funds
unrestrlc￿d
fijnd
Endowment
funds
Notes
FIXED ASSETS
Tangible assets
Inve5tnJ¢nts
Investments
Invesiment propenies
6,728
261,400
268,128
274,495
16
17
1,865244
,289,895
4,140,000
3.155,139
4,140,000
3,085.986
4,635,000
1,871,972
5,691295
7,$63,267
7,995,481
CURRENT ASSETS
Debtors
Investments
Cash at bank and in hand
3,939
116J82
195,104
3,939
116,382
195,104
11,891
110.986
145,884
19
315.425
315,425
268,761
CREDITORS
Amounts falling due within one year
20
(108.131)
(108,131}
(100.168}
NET CURRENT ASSETS
207394
207,294
168.593
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,079266
S,691295
7,770,561
8,164.074
NET ASSETS
2,079266
S,691295
7,770,561
8,164,074
FUNDS
Unrestricted funds..
General fund
Endownieiit funds..
Investments acquired on merger of charities
Chariiico COTninoii investtnent fund
Charishare inconie fund
The Old Vestry office
Investment properties
21
2,079,266
1,968,621
1,196,088
82,233
11,574
261,400
4,140,000
1,199,046
82,233
11,574
267,600
4.635,000
5,691,295
6.195,45i
TOTAL FUNDS
7,770.561
8.164,074
The financial statements w'ere approved by the Board of Trustees and authorised for issue on 30 Sepiember 2024 and
were sigied on its behalf by..
S J Attw'ood JP - Trustee
The notes fortn part of these financial ststemeiits
Page 13

THE OLD ENFIELD CHARITABLE TRUST
CASH FLOW STATEMENT
FOR THE YEAR ENDED31 MARCH 2024
2024
2023
Notes
Cash flows from operating activitie5
Cash generated from operatiot]5
23
Nei cash provided by operating activities
65,317
28.396
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
CCLA Short Temi Deposit
(5.081)
5J96
1,895
Net cash used in investing activities
9,897
1.895)
Cash flows from financin2 aetii'ities
Expenditure aiiributsble io endowment
6,200)
6,200)
Net cash used in financing activities
Change in cash and cash equii'alents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
49,220
20,301
145,884
125,583
Cash and cash equivalents at the end of the
reporting period
195.104
145.884
The notes forni part of these financial Statements
Page 14

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED31 MARCH 2024
GENERAL INFORMATION
The Old Enfield Charitable Trust is an unincorporated Charity registered with the Charity Commission (Charity
Registered Number 207840) in England and Wales.
In die event of the Cliarity being wound up, the liability of the guarantee is liinited to £1 per Member of the
Charity.
Tl)e address of the registered office. the nature of the Charity's operations and principal activities are detailed in the
Trustees, Report.
The presentation cutTency of the financial stateinent5 15 Pound Sterling {£).
The significant accounting policies applied in the pieparation of these financial statements are set out below. These
poIiLies have been consistently applied to all year5 presented unlt5S OtheTwise stdted.
ACCOUNTING POLICIES
Basis of preparing the finaneial statements
The financial statements have been prepared in accordance with ihe Charities SORP (FRS 102) - Accouniing and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance ivith the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the
Charities Aci 2011
The Old Enfield Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless oiherwise stated in the relevant
accounting policy. These finaiicial statements have been presented in sterling, Ivhich is Ihe functional currency of
the Charity, and are rounded to the nearest pound.
CTning concern
I'he financial statemcnts have been prepared on a going concern basis. The Trustees have ¢onsidered relevant
informatinn, including the annual budget, forecast futhre ¢ash flows and the impact of subsequent events in making
their ass¢ssment.
Based on these assessments and having r¢gard to the resources available to the entity, th¢ Trustees have concluded
that there is no Inaterial uncertainty and that they can continue to adopt the goinu concern basis in preparing the
Trnstees Report and accounts.
Incorne
All income is recognised once the Charity has entitlement to the itjcoine, it is probable that the income will be
received and the amount of income receivable can be measured ieliably.
Rental income and Charges are included in the period to which they relate. Amounts received in advance in respect
of rent are included in defetred income in creditors.
Othei income is recognised in the period in which it is ieceivable and to the extent the goods have been provided or
on compleiion of Ihe service.
Expenditure
Resources expended are included in the Siatemenr of Financial Activities on an accruals basis. inclusive of any
VAT M,hich cannot be recovered. They are recognised when there is a legal or constructive obligaiion to pay for
expenditure.
Ceffain expendiiure is directly attributable 10 specific activities and has been included in those cost categories on
Ihe basis of an estimate of the proponion of time spent by staff or resources used on those activities. Shared costs
hich contribute to more than one activity and suppon costs which are not attributable to a single activity are
apportioned between those activities on a basis consistent with the use of resources.
Page 15
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
ACCOUNTING POLICIES- continued
Exp¢nditur¢
Emplo}'ment termination beiiefit5 are payable when etnployment is terininated by the Charity before norn)al
retireinent date or whenever an employee accept5 ￿olUntary redundancy in excl)ange for tern]ination benefits.
Charitable expeiiditure coinprises those costs incurred by the Charity iii the delivery of its activities atjd setvices for
its beneficiaries.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the
Charity.
Expenditure on charitable a¢tivitie5 and governance costs are costs incurred on the Charity'5 charitable operations,
including support costs and costs relating to the ¥oveTnanLe tsf the Charity apportioned to charitable activitie5.
Grants pavable are charged in the year when (he offer is made except in those cases where the ofter is conditional,
such grants being recognised as expendiiure when unfullilled conditions are outside of the control of the Charii5'.
Grants offered subject io conditions which have not been met ai the year end are noted as a commiunent. bui not
accrued as expenditure.
Tangible fixed assets and depreciation
Tangible fixed assets cosiing £250 or more are capitalised and recognised when future economic benefits are
probable and the cost or value of the asset can be measured reliably. Assets costing less than £250 are charged to
expenditure on the Statement of Financial Position.
Tangible fixed assets are initially recognised at cosr. After recognition, tangible fixed assets are measured at cost
less accumulated depreciation and any accumiilatcd impairment 108ses. All costs incurred to bring a tangible fixed
asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Chariry assesses ￿hether there is any indication of impairment. If such indication exists,
the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in
use. An impairment loss is recognised ￿,here the carrying amount exceeds tlie recoverable gmount. Impainnent
losses ar¢ recognis¢d in th¢ Stat¢m¢nt of Finan¢ial A¢tivitie5.
D¢pre¢iation 15 charged so as to allocat¢ the cost of tangible fixed ass¢ts less their residual value over their
estin)ated useful lives, using the straight-line Inethod.
tkpreciation is provided ot) the following7 bases..
Freehold property
Fixtures and fittings
Other fixed assets
- 50 years
5 years
J years
Freehold land is not depreciated.
The property occupied by the Charity. The Old Vestry, is regarded as a functional property and is eapitalised in the
accounts at its fair value.
Endowed freehold properties- i￿￿'eStMent properties
Details of end01￿ed freehold properties are given in the notes to the financial siatements.
The Market Place has historic imw)rtance and dates back to 1618 when James I granted the right to hold a weekly
market. It cgnnot be sold without external consent and as a heritage asset it is regarded as inalienable and historic.
The property has not been capitalised as reliable cost infomiation is not available and conventional approaches to
valuation lack sufficient reliabiliry.
Page 16
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
ACCOUNTING POLICIES- continued
Endowed freehold properties- investment properties
All other properties are regarded as inve5tn)ent properties. They are held primarily for tlie purpose of producing an
income for the Charity, any rental inconie being negotiated at arm's leiigth. They are stated at their estimated value
on an open market ba5lS Wlth valuations b), RICS valuers or by tlieir fair value by the Trustees.
Property valuations were Ca￿led out in 2024 by Brown and Lee Chartered Surveyors, external advisors, to the
Charity. The valuations were made in accordance with the RICS Appraisal and Valuation Manual.
Investments
Fixed a55et inve5tTnents are a fonn of finanLial instruinent and are initially recognised at tlieir transaction cost and
subseqiiently me(15ured at fair value at the Balaiice Sheet date. unless the value Lannot be measured reliably in
4,hiLh Lase it is measured at cost less impaitment. Investment gains 11 nd losses, whether reali5ed Or unrealised. are
combined and pre5eiited as 'Gain51(Losses) oil investments, in the Stateinent of Financial ALtivitie5.
Taxation
The charity is exempt from lax on its charitable activities.
Fund accounting
General ￿ndS are unrestricted funds which are available for use at the discretion of ihe Trustees in furtherance of
Ihe general objectives of the Charity and which have noi been designated for other purposes.
Endowment funds represent those assets which must be held pemianently by the Charity, principally. Income
arising on the endowment funds can be used in accordance with the objects of the Charity and is included as
unrestricted income. Any capiial gains or losses arising on the investments form part of Ihe fund. Investmeni
management charges and legal advice relating to the fund are chwged agginst the fund.
The nature and purpose of each fund is explained in the notes to the financial statements.
Debtors
I'radc and other debtors are recognised at the settlement amouni after any trade dis¢ount offered. Repayments are
valued at the amount prepaid net of any trade discollnt5 due.
D¢btors are recognised when the Charity is legally entitled to the income after any performance conditions have
been met, the amount can be measured reliably and it 15 probable that the incoTne will be received.
Cash at bank and in hand
Cash at bank and in hand includes cash and 5hort-term highly liquid investment5 Wlth a short ma￿rity of three
mont115 or les5 from the date of acquisition or opeiiingF of the deposit or similar account.
Li#bilitit5 and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past evenL It is
probable that a transter of economic benefit will be required in settlement, and the amount tsf the settlement Can be
estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay io settle the debt or Ihe amount it has
received as advanced payinents tor ihe goods or services it must provide.
Provisions are measured at the best esiimate of the amounts required to settle the obligation. Where the effect of the
time value of money is material, the provision is based on the present value of those amounts, discliunted at the
pre-iax discount rate that reflects the risks specific to the liabiliiy. The unwinding of the discount is recognised in
Ihe Statement ot Financial Activities as a finance cosi.
Page 17
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
ACCOUNTING POLICIES- continued
Pension ¢05ts and other p05t-relirem¢nl benefits
The Charity operates a defined contribution pension scheme at]d the pension charge represents the amounts pa}'able
by the Cliarity. to the fund in respect of the year. The Cliarity's contribution is restricted to the contributioiis
disc105ed in tlie notes to tlie financial ststements. The pension costs are included within support and governance
costs of the Charity.
Finaneial instruments
Tl)e Charity only holds basic Financial Instruments. The financial as5et5 and fiiiancial liabilities of the Charity are
a5 follows..
Debtors
trade and other debtors (iiicluding acLrued income) are basic finanLial instruinent5 and are debt
il15trumei)t5 tned511red at amortised tost a5 detailed in the notes to the financial statetnents. Prepayments are not
financial insiruments.
Cash at bank- is classified as a basic financial instrument and is measured at face value.
Liabiliiies - trade creditlirs. accruals and other crediiors will be classified as financial instruments. and are measured
at amortised cost as detailed in the noies to the financial statements. Taxation and social security are not included in
the f1nancial instruments disclosure. Deferred income is not deemed to be a financial liability, as the cash settlemeni
has already taken place and there is simply an obligation to deliver charitable services rather ihan cash or another
financial instrument.
Grants payable
Cirant% payablc are charged to the Statement of Financial Aciivities in the period in which they have been approved
and committed and in which a ¢onstruciive obligatiOT] exists. Any grants approved in principle but where condiiions
attached to the gward have not yet been met are included in the notes to the fingncial statemcnis as a commitment.
Operating le2ses
Reiitals paid under operating leases are ¢harged io the Staiement of Financial Activities on a straight line basis over
the l¢as¢ t¢rm.
Amalgarnation of Charities
Uiider a Sclieme of the Charity Comn)i5sion dated 30 March 1994. Nie Enfield Parochial Charity and The Hundred
Acres Charity were anialbFaTnated as one Charity, The Old Enfield Charitable Trnst.
By agreement with The Charity Commission, the asset5 of The Hundred Acres Charity were merged with the assets
of The Eiifield Parochial Charity from l April 1994.
Following the it)troduction of the new accounting regulations for Charities, investinents previously treated as
Capital Investsnents by The Hundred Acres Chaiity were then included as Pernianent Capital Endowments.
Page 18
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
CRITICAL ACCOUNTING ESTIMATES AIYD AREAS OFJUDGEMENT
Estimates and judgements are continually evaluated and are based on historical experience and other factors,
including expectations of future events that are believed to be reasonable under the circumstance5.
Critical accounting estimates and assumptlOllS'.
The Charity makes e5titnates ￿]d assumptions Concernin￿ the fU￿re. The resulting accounting estimates and
as5111nptions will. by definition, seldom eqiial the related actual results. The estiinates and assiiinptions tliat have a
significant risk of caiising a niaterial adju5tinent to tlie carryin¥ aniount5 of assets and liabilities witl)in the next
financial year are described below.
The valuations of the properties of the Charity. The Trustees consider that the valuations at 31 March 2024 are
appropridte.
The c1nnudl depreciatioi) cl)arge is sensitive to ch1( nges in the estimated useful lives and residual value of assets.
The useful lives and residual values are re-assessed annuallj and ainended, Ivhere necessary.
DONATIONS AND LEGACIES
2024
Total
funds
2023
Toial
funds
Unrestricted
funds
Endowment
funds
Donations
lJ56
OTHER TRADING ACTIVITIES
2024
Total
fund5
2023
Total
funds
Unrestricted
nds
Endowment
funds
Property rentals
Market place
Car park
239,$00
190,171
239,500
190,171
256,091
207,092
68,098
510,960
510,960
531281
The Charity ¥enerate5 its main source of incoine froin the collection of property rents, market rents and takiiigs
fi'om the car paTk situated in Church Street, Enfield. Such inconie 15 included in the Statemeiit of Fiiiancial
Aetivities ivl)en tl)e Trust is entitled to the income and the amount can be quantified. The income is used lor the
prin)ary purpose of tl)e Trust which is the payment of grants to those residents of tl)e Ancient Parish of Enfield who
are in need. in distress or are suffering hardship.
INVESTMENT INCOME
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Endowment
funds
Investment income- listed investments
Investmeni income- cash
Bank interest received
123.724
5.396
123,724
5J96
580
118.900
1.895
129,700
129,71MI
120,795
Page 19
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
OTHER If44COME
2024
Tol81
funds
2023
Total
fiinds
Unrestricted
nds
Endowment
funds
Administration charge
Employment allowance
10,S72
10,S72
9,650
5,000
15,572
15,572
14,650
CHARITABLE ACTIVITIES COSTS
Grant
fundin¥ of
Support
Costs (see
iiote l 01
Direct
Costs
(see note
91
Tota15
Grdnts pavable
Market place
Car park
210,430
125,982
85,459
336,412
256,950
31,892
171,491
21.041
192,532
210430
222,292
625254
Comparatives for charitable activities costs
2023
2023
2023
Support
costs Iscc
noic 101
2023
Toials
DirLCI
Cosis
Grani
funding of
ISLL noic
91
Grdnis pa>ablL
Market place
Car park
184.476
124,149
79,199
10.703
308,625
260,634
39.629
181,435
28.926
210.361
184,476
214,051
608.888
Details regarding grants payable are stated in the Trustees. annual report.
GRANTS PAYABLE
2024
2023
GTants payable
210,430
184,476
The total grants paid to institutions during the year wa5 as follows..
2024
2023
Grdnts to in5titution5
Page 20
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
GRANTS PAYABLE- continued
The total grants paid to individuals during the year was gs follows..
2024
2023
Grants to individuals
187936
177 3i5
io.
SUPPORT COSTS
Govemance
costs
Management
Totals
Grants pa}'able
Markei place
Car park
119,092
81,063
10,257
6,890
4J96
594
125,982
10,851
210,412
11,880
222.292
Comparatives for support eosts
2023
Governance
costs
20?3
Management
2023
Totals
Grants payable
Market place
Car park
6,438
4,107
555
124,149
79,199
10,073
75,092
10.148
202,951
214,051
AUDITORS, REMUNERATION
2024
2023
Fees payable to th¢ ¢harity's auditors for th¢ audit of the charity's financial
statements
12.
TRUSTEES, REMUNERATION AND BENEFITS
During the current and previous year. no Trustees received any remuneration or other benefits.
Page21
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
12.
TRUSTEES, REMUNERATiof+4 AND BENEFITS- continued
Trustee$, ¢xp¢nse5
DuTing the current and previous year, no Trustee expenses have been incurred.
13.
STAFF COSTS
2024
2023
Wage5 and salaries
Social 5eLurity Costs
Other pension ¢05ts
191.6SI
17.068
195,232
19,064
7,815
21566S
The average monthly number of employee5 during the year was as follows..
2024
2023
Employees
No employees received emoluments in excess of £60.000.
The Charitj operates a defined contribution pension scheme and pays pension coniributions 10 an independently
administered Pension Fund.
The Key Management Personnel of the Charity ar¢ ¢onsidered to be the frustees. Th¢y received no remuneration in
the year.
Total staff costs have been allocgted betw¢en direct and support costs bas¢d on a weighted average of totsl
expenditiir¢.
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
UnrestTlCted
fund
EndowTnent
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Other trading activities
Investment ii)coine
Other income
531,281
120,795
14,650
531,281
120,795
Total
666 726
666 726
EXPENDITURE ON
Charitable activities
Grants payable
Market place
Car park
305,029
258,340
3,596
2,294
310
308,625
260,634
Total
602,688
6,200
608.888
Net gainsl{lossesl on investments
82,812)
(79,301
162,113)
Page 22
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
14.
COMPARATIVES FOR THE STATEMEf44T OF FINANCIAL ACTIVITIES- continued
Unrestricted
End0￿ment
fund
funds
Total
funds
NET INCOMEI(EXPENDITURE)
118,774)
(85,5011
{104,275)
RECONCILIATION OF FUNDS
Total fllnd5 brou¥ht forward
1,987,395
6,280,954
8,268,349
TOTAL FUNDS CARRIED FORWARD
1968621
6 195453
8 164 074
Is.
TANGIBLE FIXED ASSETS
Fixtures
and
fiitings
Freehold
property
Computer
equipmeni
Totals
COST
At l April 2023
Additions
Disposals
310,000
39,783
92,605
5,081
72,222)
442,388
5,081
102.780)
At 31 March 2024
922S
344,689
DEPRECIATION
At l April 2023
e for year
Eliminated oil disposal
42,400
6,200
34,920
2,447
30,548)
90,S73
2,801
72 222}
167,893
11,448
102 780)
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
261,400
2,416
4J12
268,128
At 31 Mwch 2023
267 600
274 495
2024
2023
Old Vestry Office (futjctional property). Approx age.. 220 years
261.400
267 600
261400
267 600
Freeliold property repre5ent5 'The Old Vt5try'. The property wa5 valued by Browii & Lee, Chartered Surveyors,
ill 2024 at £250,000. The TTU5tee5 do not consider there 15 a perrnaiient diminution in value and Ro adjustment is
needed to the freel)old property carried in these accounts.
Page 23
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
16.
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At l April 2023
3,085,986
69,IS3
Revaluations
At 31 March 2024
3,155,139
NET BOOK VALUE
At 31 March 2024
3,155,139
At 31 March 2023
3,085,986
There were no investment assets held outside the UK.
2024
2023
Muterial inve5tment$
M&G Charity Investment Funds
BlaLk RoLk c.harity Portfolio IChari5hare)
Black Rock Charitj Portlolio (Charinco)
CCLA Charity Investment Fund
1,190,747
578.809
514,617
870,966
1,20.5,082
567,900
502,793
810,211
3 ISS 139
i 085 986
17.
INVESTMENT PROPERTIES
FAIR VALUE
Al l April 2023
Revaluation
4,635.000
495.000
At 31 March 2024
4 140 000
NET BOOK VALUE
At 31 March 2024
4 140 000
At 31 March 2023
4 635,000
The properties were valued in 2024 by Brown & Lee. Chartered Surveyors, on an open market value for existing
use basis.
Endowed freehold investment properties comprise..
2024
2023
The Kings Head Inn (investment property). Approx age.. 120 years
20 The Town {investment property). Approx age.. 120 years
21 The Town {investm¢nt property). Approx age.. 120 years
93ll,llOO
2,87i,nOO
335 noo
1,050,000
3,155.000
430.000
4.140,000
4.635,000
Th¢re is no historical ¢ost available for the investment properties.
Page 24
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
17.
INVESTMENT PROPERTIES- Continued
The Market Place is regarded as a heTltage asset because of its contribution to knowledge and culture and is
preserved for it5 historic importance. It has not be included as an asset on the balance sheet as its valuation does not
encompas5 t]ie historical importance of the inalienable asset. as stated in the accounting policy note.
Fair value at 31 March 2024 is represeiited by..
Valuation in 2024
4 140000
18.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
202i
Trade debtors
Prepaymenis
8,203
3,688
3,664
3,939
19.
CURRENT ASSET INVESTMENTS
2024
2023
Listed investments
116J82
110,986
20.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Other creditor5
Grants payable
Defe￿ed incoTne
Accrued expense5
23,705
6,250
21,796
44,SOO
26,061
6,250
12,557
44,500
108,131
100 168
2024
2023
Deferred illcome
Defe￿ed income at l April
Resources deferred during the year
Amounts released from previous periods
38,250
44,500
38 250)
44,500
44 500)
Deferred income at 31 March
Deferred incoine held at 31 March 2024 represents funds received in advance for the rental of investment property.
Page 25
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
21.
MOVEMENT FUNDS
Net
movement
in fiinds
At
31.i.24
At 1.4.23
Unrestricted funds
General fund
1,968,621
J 10,645
2,079,266
Endowment fund5
Investments acquired on imertser of charities
ChdrinLO Lommon investment fund
Chdrisl)are income fund
The Old Vestsy office
Investment properties
1,199,046
82,233
11,574
267,600
4,635,000
(2,958)
1,196,088
82,233
(6,200)
495,000)
261,41)0
4.140,01)0
6 19S453
S04,IS8
TOTAL FUNDS
8 164 074
393 $13}
7 770S61
Net movement in fund5, included in the above aTe as follows..
Inconiing
resources
Resources
expended
Gains and
105se5
Movtnient
in funds
Unrestricted funds
Gei)eral fund
657,588
(619,054)
72,111
110,645
Endowment funds
Investinents acquired on merger of charities
The Old Vestry office
Investmeni properties
(2.958)
(2,958)
(6,200)
495,000)
(0,200)
495.000)
504,158
TOTAL FUNDS
6S7,S88
625,2S4)
425,847}
393,S13)
Page 26
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
21.
MOVEMENT IN FUNDS- continued
Comparalives for movement in funds
Net
movement
in funds
At
31.i.23
At 1.4.22
Unrestricted fund5
General fund
1,987,395
(18,774}
1,968,621
Endowment fund5
Inve5tmentS (Icquired on merger of charities
Charinco common invesllnent fund
Charisl)are income lund
The Old Vestry office
Invesimenr properties
1,278,347
82,233
1,574
27i.800
4,6J5,000
(79,3011
1,199.046
11,574
267,600
4,635.000
(6,200}
6.280,954
85 501)
6 195,453
TOTAL FUNDS
8 268 349
104 275}
8 164074
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Moven)ent
in funds
Unrestricted funds
General lund
666,726
(602,688)
(82,812}
{18,774)
Endowment funds
Investmenis acquired on merger of charities
The Old Vestry olTice
(79,3011
{79.301)
6,200)
6,200
6,200
85,501
TOTAL FUNDS
666 726
608,8881
162,113}
104 275)
Page 27
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
21.
MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months Combined position is gs follows..
Net
movement
in funds
At
31.i.24
At 1.4.22
Unrestricted fund5
General fund
1,987,395
91,871
2,079,266
Endowment fund5
Inve5tmentS (Icquired on merger of charities
Charinco common invesllnent fund
Charisl)are income lund
The Old Vestry office
Invesiment properties
1,278,347
82,233
1,574
273,800
4,6J5,000
(82,2591
1,196.088
11,574
261,400
4,140,000
(12,400)
495,000}
6.280,954
589 659)
5 691,295
TOTAL FUNDS
8 268 349
497 788)
7 770561
A current year 12 inonths and prior year 12 rnonths cotnbined net movement in fund5, included in the above are as
follow5..
Incoming
resources
Resources
expended
Gairts and
losses
Moven)ent
in funds
Unrestricted funds
General fund
1,324,314
(1,221.742)
(10.701}
91.871
Endowment funds
Investments acquired on merger of charities
The Old Vestry otTice
Investment properties
(82,2591
{82.259)
{12,400)
495.000)
(12,400)
495,000}
12.400
577.259
589,659
TOTAL FUNDS
1,324 314
(1234 142)
587,960}
497 788)
22.
RELATED PARTY DISCLOSURES
The Trustees are also Trustees of Ann Crowe's and Wright's Almshouse Charity which is a Charity in its own right.
These N'o sets of Almshouses are administered by The Old Enf1eld Charitable Trusi and an administration charge
of £ l O,-f 72 12023 £9,650} was made for this purpose during the year under review. The Old Enfield Charitable
Trust holds these properties, as custodian, on behalf of Ann Crowe's and Wright's Almshouses Chariiy, in a non
beneficial capacity. There were no balances outstanding at the previous or current year end.
Page 28
continued...

THE OLD ENFIELD CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED31 MARCH 2024
23.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOIV FROM OPERATING
ACTIVITIES
2024
2023
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adju5tment5 for:
Depreciation charges
Losses on investinents
Interest received
Expenditure attributable to endowinent
Decrease iii debtors
Increasel{deLrease) in Lreditors
{393,S13}
(104,275)
11,448
425,847
{580)
6.200
7.952
7,963
15,443
162,113
6,200
51.098
Net cash proTr'ided by operations
65
24.
ANALYSIS OF CHANGES IN NET FUNDS
Ai 1.4.23
Cash tlow
At 31.3.24
Net eash
Cash at bank and in hand
145.884
49,220
195.104
145884
49,220
195.104
Liquid resources
Dep051ts included in cash
CuTrent asset investments
110986
5,396
110986
116
Total
256.870
54,616
311,486
Page 29