Charity Registration No. 208898
UNAUDITED RECEIPTS AND PAYMENTS ACCOUNT
OF
HILGAY UNITED CHARITIES ALSO KNOWN AS HILGAY FEOFFEE CHARITY
YEAR ENDED 31 DECEMBER 2024
HILGAY UNITED CHARITIES TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 December 2024. The accounts comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” .
Reference and Administrative Details
| Charity name: | Hilgay United Charities (Non-Ecclesiastical Branch) |
|---|---|
| Charity number: | 208898 |
| Operational address: | Windrush |
| Church Road | |
| Ten Mile Bank | |
| Downham Market | |
| Norfolk | |
| PE38 0EJ | |
| Independent examiners: | Mapus-Smith & Lemmon LLP |
| 23 London Road | |
| Downham Market | |
| Norfolk | |
| PE38 9BJ |
Trustees
The Trustees serving during the year and since the year end were as follows:
Colin Wills (Chairman) Michael Starling (Vice-Chairman) David Barrington Peter Bates Graham Carter Brian Charlesworth Lesley Dent John Evans Charlie Kisby Peter Mesher Rev Nigel Moat
The senior official to whom the day to day management of the charity is delegated by the charity Trustees is Anthony Hall.
Structure, Governance and Management
Governing Document
The charity is governed by its Constitution dated 4th July 1913. It was registered as a charity with the Charity Commission on 21st January 1963.
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Appointment of new Trustees
All members are invited to nominate Trustees, together with suggestions from the management team. Appointment of nominees are confirmed by vote at the next meeting.
Charity’s main objectives
The Charity’s main objectives are as follows:
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To provide Apprenticeship and Further Education grants
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To provide assistance to the local residents with Winter Fuel costs.
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The maintenance and upkeep of two village halls
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The insurance and maintenance of all charity land and property in good order
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The provision of grants to two village schools to purchase additional items such as books, computers and play equipment
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The provision of grants for projects of benefit to the local community
Charity’s main activities
The main activity undertaken to generate income to fulfil the objectives is that of land rent.
Main achievements of the charity during the year
The charity has had six main achievements in the year.
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The Charity invested over £16,000 in under draining land to increase its value and rent revenue.
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Hilgay Village Hall received roof repairs. The Charity has ensured the continued day-to-day running and maintenance of the village halls for the community.
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£9,900 has been paid out to elderly residents to assist them with their winter fuel costs.
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The provision of over £11,000 of educational grants to two village schools for the purchase of new IT equipment to enhance the children’s education. An increase of £6,000 over 2023
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The award of Apprenticeship Grants totalling £795. An increase 0f £660 over 2023.
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The award of a Community Grant to Hilgay Good Companions Club for the purchase of a new notice board.
Review of the financial position of the charity and reserves policy
Financially the organisation remains healthy, and we continue to meet our objectives. The Board of Trustees have agreed a Reserves policy in line with the organisation objectives and this gives the charity at least two year’s running costs should funding be seriously compromised in the future or major buildings repair expenditure be required. The present level of reserves held is £61,591, of which £42,134 is held in a savings account to provide additional income in the form of interest.
Investment selection
The investments are managed by CCLA (Churches, Charities and Local Authorities investment fund) who specialise in Charity and religious organisation investments. The funds are invested into a specific Charity Official Investment Fund (COIF) and are restricted to receipt of income generated.
The trustees’ report was approved by the Board of Trustees
…………………………………….……..
Date …………………………………….……..
C Wills (Chairman)
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HILGAY UNITED CHARITIES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HILGAY UNITED CHARITIES For The Year Ended 31[st] December 2024
I report to the trustees on my examination of the financial statements of the Hilgay United Charities (the Charity) for the year ended 31 December 2024, which are set out on pages 4 to 6.
Responsibilities and basis of report
As the charity trustees of the Chairty you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
(1) accounting records were not kept in respect of the Charity as required by Section 130 of the Act; or
(2) the accounts do not accord with those records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
….………………………………………………………
Date:………………………………
Paul Farrow FCA FCCA MAAT For and on behalf of Mapus-Smith & Lemmon LLP
Chartered Accountants and Registered Auditors 23 London Road Downham Market Norfolk PE38 9BJ
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HILGAY UNITED CHARITIES RECEIPTS AND PAYMENTS ACCOUNT For the Year Ended 31 December 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| RECEIPTS: | ||||
| Land rent and moorings | 26,523.61 | 26,016.73 | ||
| Village halls | 4,289.41 | 3,491.70 | ||
| Government grants | - | - | ||
| ------------- | 30,813.02 | ------------- | 29,508.43 |
|
| INVESTMENT INCOME: | ||||
| Investments | 25,535.98 | 8,748.88 | ||
| ------------- | 25,535.98 | ------------- | 8,748.88 |
|
| ---------------- | ---------------- | |||
| TOTAL INCOME | 56,349.00 | 38,257.31 | ||
| ---------------- | ---------------- | |||
| PAYMENTS: | ||||
| Village halls | 6,508.60 | 19,183.75 | ||
| Insurance | 4,323.48 | 4,269.17 | ||
| Administration expenses | 5,729.22 | 6,205.61 | ||
| Maintenance | 18,083.88 | 1,557.45 | ||
| Other payments: | ||||
| Education grant | 11,597.90 | 5,669.68 | ||
| Apprenticeships | 795.01 | 130.97 | ||
| Fuel donations | 9,900.00 | 15,050.00 | ||
| Community grants | 321.60 | - | ||
| ------------- | 57,259.69 | ------------- | 52,066.63 |
|
| ---------------- | ---------------- | |||
| (Deficit) for the year | ( 910.69) | (13,809.32) | ||
| Surplus brought forward | 62,502.15 | 76,311.47 | ||
| ---------------- | ---------------- | |||
| Surplus carried forward | 61,591.46 | 62,502.15 | ||
| ---------------- | ---------------- |
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HILGAY UNITED CHARITIES STATEMENT OF ASSETS AND LIABILITIES As at 31 December 2024
| Total | Total | |
|---|---|---|
| 2024 | 2023 | |
| MONETARY ASSETS | ||
| Bank current accounts | 19,456.83 | 21,421.50 |
| Bank deposit accounts | 42,134.63 | 41,080.65 |
| -------------- | --------------- | |
| TOTAL BANK AND CASH | 61,591.46 | 62,502.15 |
| -------------- | -------------- | |
| RESERVES | ||
| General fund - Surplus | 61,591.46 | 62,502.15 |
| General fund - Investments | 279,618.87 | 267,484.01 |
| -------------- | -------------- | |
| 341,210.33 | 329,986.16 | |
| -------------- | -------------- |
Approved and signed on behalf of the Charity
C Wills (Chairman)
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HILGAY UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 December 2024
Accounting policies
Charity information
Hilgay United Charities (Non-Ecclesiastical Branch) is a charity registered with the Charity Commission in England. The operational address is Windrush, Church Road, Ten Mile Bank, Downham Market, Norfolk PE38 0EJ.
Accounting convention
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Going concern
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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Resources expended
Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.
Costs of generating funds are those costs incurred in trading activities that raise funds.
Charitable activities are those costs incurred by the charity in meeting its charitable objectives.
Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with the constitutional and statutory requirements.
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