**Charity number: 210145 Homes & Communities Agency No. A4354** ## **Harefield Parochial Charities** **Trustees' report and financial statements** **For the year ended 31 December 2022** ## **Harefield Parochial Charities** ## **Contents** ## **For the year ended 31 December 2022** ||**Page**| |---|---| |Legal and administrative information|**1**| |Trustees' report|**2 - 6**| |Auditors' report to the Trustees|**7 - 9**| |Statement of financial activities|**10**| |Balance sheet|**11 - 12**| |Notes to the financial statements|**13 - 18**| ## **Harefield Parochial Charities** ## **Legal and administrative information** ## **For the year ended 31 December 2022** |**Charity number**|210145|| |---|---|---| |**Business address**|11 Burbery Close|| ||Harefield|| ||Middlesex|| ||UB9 6QP|| |**Trustees**|P P Davis - Chairperson|| ||P N H Mander - Treasurer|| ||Mrs D Jacques|Resigned 20/04/2022| ||Mr H Higgins|Resigned 08/05/2022| ||Rev. Martin Davies|| ||Mrs B Meier|| ||A Breathwick|| |**Auditors**|Levy + Partners Limited|| ||Chartered Accountants and Statutory Auditors|| ||7-8 Ritz Parade|| ||Western Avenue|| ||London|| ||W5 3RA|| |**Bankers**|Cater Allen Private Bank|| ||9 Nelson Street|| ||Bradford|| ||BD1 5AN|| ||The Nat West Bank plc|| ||37 Green Lane|| ||Northwood|| ||Middlesex|| ||HA6 3AF|| |**Solicitors**|Third Sector Law|| ||240 Shenfield Road|| ||Reading|| ||Berkshire|| ||RG2 8EX|| **Page 1** ## **Harefield Parochial Charities** ## **Report of the Trustees** ## **For the year ended 31 December 2022** The Trustees present their report and the financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Charities' Trust Deed, the 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) (effective 1 January 2015) - (Charities SORP (FRS 102)) and the Charities Act 2011. ## **Structure, governance and management** The governing document for the Trust is a Charity Commission Scheme or trust deed dated 1st May 1956. The Trust includes the following ancient charities in the Parish of Harefield, Middlesex; The Countess of Derby's Almshouses Charity founded by a Will dated 24 December 1636. The Mrs Mary Ashby Charity (including Baldwin's gift) founded by a Will dated 24 April 1664. The Solomon Burbery Charity founded by a Will dated 5 March 1697 (Littlewoods/Dairy Farm*). The Poor's or Fuel Allotment Charity established by an Inclosure Award under the Enclosures Act in 1813. The Henry Goodman Charity founded by a Will proved on 20 May 1858. The Ashford and Moore Charity founded by a Will proved on 10 April 1867. * The farm referred to as Littlewoods in the Charity Commission governing document is now known as the Dairy Farm. The Charities' governing document requires 5 Trustees who must live or work in the Parish of Harefield. They are constituted as follows: - Two Representative Trustees appointed by the Council of the London Borough of Hillingdon to serve for four years, such term being renewable. - Two Co-Optative Trustees appointed by the Board of Trustees from persons residing or carrying out business in the area of the Ancient Parish of Harefield and serve for five years, such term being renewable. An Ex-officio Trustee - the Vicar for the time being of the Ecclesiastical Parish of Harefield. P P Davis - Chairperson - Co Optative Trustee P N H Mander - Treasurer - Representative Trustee Mr H Higgins - Representative Trustee (Resigned 8th May 2022) Mrs D Jacques - Co Optative Trustee (Resigned 20th April 2022) Rev. W M Davies - Ex Officio Trustee A. Breathwick - Additional Trustee appointed by resolution Mrs B Meier - Additional Trustee appointed by resolution The Trust is managed by the five designated Trustees working entirely on a voluntary basis and all live in Harefield. The Trust has no chief executive officer or staff to whom the day-to-day management is delegated. To assist with the workload, additional Trustees were appointed by resolution as the Trust's scheme contains no power to amend the Clause 3 in this respect, as agreed with the Charity Commission. The Trust, in addition to being a registered charity, is a registered provider of the Homes and Communities Agency. It is also a member of the Almshouse Association and the Independent Housing Ombudsman Scheme. **Page 2** ## **Harefield Parochial Charities** ## **Report of the Trustees** ## **For the year ended 31 December 2022** ## **Objectives, activities and public benefit** As set out in the Trust's governing document, the objective of all the six original constituent charities of the Trust was the relief of need in the Ancient Parish of Harefield. The Trustees pursue the same objective today. All income derived from the Trust's activities and endowments less that paying for maintenance and servicing a considerable mortgage, provides public benefit. The Trustees confirm that they are fully aware of the Charity Commission's guidance on the need for public benefit in the execution of their activities in pursuit of the relief of need, the objective of the Trust. In their judgement the Trustees believe that they meet in full the requirements of the public benefit test. Reference to this is made in the descriptions of their various endeavours in the text below. The Dowager Countess of Derby in her Will dated 24 December 1636 left provision for the curate to say prayers for them daily. The fine Grade II* listed building on Church Hill in the village was the result. This was converted and up-graded to the modern decent homes standard in 2003 to provide two comfortable one bedroom almshouses. These are occupied by qualifying residents from the Council's housing register a public benefit. The weekly maintenance contributions (rent) from these add to the Trust's income to service the building and grounds. Solomon Burbery, a last maker of the Parish of St. Martin's in the Fields, London, in his Will dated 5 March 1697 left a small farm of 5.5ha on the edge of the village. The income from this was to keep his two sisters for their lifetimes and "after their decease unto the poor of the Parish of Harefield forever." In 2001 it was discovered that 1.O ha of the Dairy Farm site was developable. On account of the shortage of affordable housing in the village, the Trustees embarked on a project funded by a bank loan and a significant social housing grant from the Housing Corporation in 2006. This provided: - fourteen 2, 3 or 4 bedroom family homes instead of traditional almshouses constructed as Burbery Close to commemorate the benefactor. These are let at social housing rents to candidates from Council's housing register from the Parish only, a public benefit. The maintenance contributions (rent) from these are part of the Trust's income that helps to maintain the buildings and grounds and also service the large mortgage funding the project. - the conversion and renovation of the locally listed farmhouse and a barn and the construction of four new-build 4 bedroom houses. These were offered on 500 year leases to keep the original Solomon Burbery endowment intact. The proceeds assisted in financing the project. The ground rent from houses contributes to the Trust's income which is used for public benefit. - A football pitch and a cricket ground were constructed on two of the farm paddocks in the Green Belt. These are let on long full repairing leases to the neighbouring village football and cricket clubs. These both provide organised activities for the young of the village - a public benefit. The rent from these provides additional income for the Trust. The financial endowments from the four other ancient charities (Mrs Ashby, Poor's or Fuel Allotment, Henry Goodman and Ashford & Moore Charities) are invested by the Official Trustees of Charitable Funds. While the endowments are restricted they provide welcome dividend income which assists in funding public benefits. ## **Achievements and performance** In general the Trust's properties and grounds were all in good order throughout the year and were well covered by the insurance policies maintained. **Page 3** ## **Harefield Parochial Charities** ## **Report of the Trustees** ## **For the year ended 31 December 2022** ## **Financial review** The Trust's sources of income are: - Weekly maintenance contributions (rent) from 16 almshouses, 14 in Burbery Close on the Dairy Farm Estate and two - in the Countess of Derby's Almshouses, - Ground rent from the 6 leasehold properties on the Dairy Farm Estate, - Rent from the two playing fields on the Dairy Farm Estate, - Dividends from the Trust's four endowment funds invested by the Official Trustees of Charitable Funds. The Trust's income covers the running costs and maintenance of the Trust's properties and the monthly provisions for emergency repair and cyclical maintenance funds for them. In addition, capital repayments and interest payments are made monthly to The Charity Bank against the Dairy Farm development refinancing loan. Apportioned service charges are recovered for costs incurred for gardening, cleaning, maintenance, area lighting, CCTV for the common parts of the Estate and management. These are certified by our auditors. With the importance of maintaining cash flow, the Trustees pay particular attention to budgetary reporting and expenditure control. Reports on bank balances and monthly income and expenditure are presented at the Trustees' monthly meetings and invoices received are explained prior to approval for payment. The Trust's financial position is therefore under constant and careful scrutiny. ## **Risk management** Management of risks to the Trust is of primary importance to the Trustees and they are therefore aware of the importance of rigour in managing the Trust's affairs. If threatening issues arise these are addressed promptly and professional advice sought where necessary. The regular receipt of rents, or in Almshouse terms weekly maintenance contributions, is essential for the servicing of the mortgage and loans for the Dairy Farm project. Risks are minimal in other areas. No staff are employed and the Trust's properties are well insured. The insurance cover for the football pitch and cricket ground is provided by the tenant clubs. A GDPR audit was carried out to ensure we comply with the requirements as set out by the various bodies. ## **Grant awards** The main focus for grant aid is the traditional Coal Allocation, paid to qualifying elderly village residents. Other grants are made, in observance with the Trust's Governing Document, to local organisations. This year, grants were made to the local primary school for Christmas food parcels to families in need. ## **Plans for future periods** The Trustees will ensure that income that is due is received regularly and in full, in order to be able to service effectively the mortgage and loans that the Trust has. Income will also be expended prudently in the maintenance of all its properties and its Estate. **Page 4** ## **Harefield Parochial Charities** ## **Report of the Trustees** ## **For the year ended 31 December 2022** ## **Statement as to disclosure of information to auditors** In so far as the Trustees are aware: - there is no relevant audit information of which the Trust's auditors are unaware; and - the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **Trustees' Responsibilities Statement** The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Trust and of the incoming resources and application of resources of the Trust for that year. In preparing these financial statements the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Trust and financial information included on the Trust's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The Trustees believe that they have fulfilled all their obligations in all these respects. **Page 5** ## **Harefield Parochial Charities** ## **Report of the Trustees** ## **For the year ended 31 December 2022** ## **Auditors** During the year, the Trustees reviewed their audit requirements and reappointed Levy + Partners Limited as auditors. ## **Declaration** The Trustees declare that they approved the Trustees' Annual Report on 6 June 2023 Signed on behalf of the Charities' Trustees by: ...................................................................... ## **P P Davis Trustee (Chair)** **Page 6** ## **Harefield Parochial Charities** ## **Independent auditor's report to the Trustees of Harefield Parochial Charities** ## **For the year ended 31 December 2022** ## **Opinion** We have audited the financial statements of Harefield Parochial Charities for the year ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2022, and of its incoming resources and application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. The Trust is a Registered Social Landlord and complies with the accounting and audit requirements under: Paragraph 137 (of Chapter 17 of Housing and Regeneration Act 2008) and; a) the revenue account gives a true and fair view of the Trust's income and expenditure, so far as relating to its housing activities, and; b) the balance sheet gives a true and fair view of the state of affairs of the charity as at the end of the period to which the accounts relate. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions' relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individualyy or collectively, may cast significant doubt on the Harefield Parochial Charities ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. **Page 7** ## **Harefield Parochial Charities** ## **Independent auditor's report to the Trustees of Harefield Parochial Charities** ## **For the year ended 31 December 2022** Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant section of this report. ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon except to the extent otherwise explicitly stated in our report. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatments in the trustees report. We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the trustees' report; - sufficient accounting records have not been kept; - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement set out on page 5 the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. **Page 8** ## **Harefield Parochial Charities** ## **Independent auditor's report to the Trustees of Harefield Parochial Charities** ## **For the year ended 31 December 2022** ## **Auditor's responsibilities for the audit of the financial statements** We have been appointed as auditor under the Charities Act 2011, s. 144[*] and report in accordance with regulations made under the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but it is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularites, including fraud are instances of non compliance with laws and regulations. We design procedure 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 irregularities, is detailed below : 1) We assesed the extent of compliance with the laws and regulations identified above through making enwquiries of management and identified laws and regulations. 2) making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud 3) considering the internal control in place to mitigate risks of fraud and non compliance with laws and regulations and to address the risk of fraud through management bias and override of controls. 4) we performed analytical procedures to identify any unusual and unexpected relationships. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. ## **Use of our report** The report is made solely to the Charity's trustees, as a body, in accordance with Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. .............................................................. ## **Levy + Partners Limited** Chartered Accountants and Statutory Auditors 7-8 Ritz Parade Western Avenue London W5 3RA ## **Date : 6 June 2023** _Levy + Partners Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006._ **Page 9** ## **Harefield Parochial Charities** ## **Statement of financial activities** ## **For the year ended 31 December 2022** |||**Unrestricted**|**Unrestricted**|**Unrestricted**||**Restricted **|**Restricted **|**Endowment**|||**2022**||||**2021**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||**funds**||||**funds**|**funds**|||**Total**||||**Total**| ||**Notes**||**£**||||**£**|**£**|||**£**||||**£**| |**Income**|||||||||||||||| |Charitable activities|2||134,279||||-|-|||134,279||||133,795| |Investments|3||4,310||||-|-|||4,310||||4,034| |Other|4||-||||-|-|||-||||1,575| |**Total income**|||138,589||||-|-|||138,589||||139,404| |**Expenditure**|||||||||||||||| |Charitable activities|5||56,869||||-|-|||56,869||||53,797| |Governance costs|6||31,419||||-|-|||31,419||||29,972| |**Total expenditure**|||88,288||||-|-|||88,288||||83,769| |**Net incoming resources**|||||||||||||||| |**before transfers**|||50,301||||-|-|||50,301||||55,635| |Transfer between funds|||4,284||||-|)
(4,284|||-||||-| |**Net income / (expenditure) before**|||||||||||||||| |**other recognised gains and losses**|||54,585||||-|)
(4,284|||50,301||||55,635| |**Other recognised gains and losses**|||||||||||||||| |Gains on investment assets|||2||||-|-|||2||||-| |Investments|||(120|)|||-|)
(17,544|||(17,664|)|||19,232| |**Net movement in funds**|||54,467||||-|)
(21,828|||32,639||||74,867| |Total funds brought forward||1,602,492||||1,050,606||155,157||2,808,255||||2,733,388|| |**Total funds carried forward**||1,656,959||||1,050,606||133,329||2,840,894||||2,808,255|| The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. **The notes on pages 13 to 18 form an integral part of these financial statements.** **Page 10** ## **Harefield Parochial Charities** ## **Balance sheet** ## **As at 31 December 2022** |**Notes**
**Fixed assets**
Tangible assets
8
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors: amounts falling**
**due within one year**
11
**Net current assets**
**Total assets less current**
**liabilities**
**Creditors: amounts falling due**
**after more than one year**
12
**Provisions for liabilities**
13
**Net assets**
**The funds of the charity:**
14
Endowment funds
Restricted income funds
Unrestricted income funds:
Unrestricted income funds
Revaluation reserve
Total unrestricted income funds
**Total charity funds**|**2022**
**£**
**£**
3,300,067
157,617
3,457,684
10,614
85,573
96,187
)
(50,537
45,650
3,503,334
)
(600,902
)
(61,538
2,840,894
133,329
1,050,606
1,286,643
370,316
1,656,959
2,840,894|**2021**
**£**
**£**
3,300,090
155,159
3,455,249
9,500
90,798
100,298
)
(48,323
51,975
3,507,224
)
(645,431
)
(53,538
2,808,255
155,158
1,050,606
1,232,178
370,314
1,602,492
2,808,256| |---|---|---| _The Balance Sheet continues on the following page._ **The notes on pages 13 to 18 form an integral part of these financial statements.** **Page 11** ## **Harefield Parochial Charities** ## **Balance sheet** ## **As at 31 December 2022** _.........Continued from previous page_ The financial statements were approved by the Trustees on 6 June 2023 and signed on their behalf by ................................................................. **P P Davis - Chair Trustee** **The notes on pages 13 to 18 form an integral part of these financial statements.** **Page 12** ## **Harefield Parochial Charities** ## **Notes to the financial statements** ## **For the year ended 31 December 2022** ## **1. Accounting policies** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. The transition to FRS 102 has resulted in no changes in accounting policies to those applied previously. ## **1.1. Basis of accounting** The financial statements are prepared have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), and the Charities Act 2011. ## **1.2. Cashflow** The Trust has taken advantage of the exemption in FRS 102 from the requirement to produce a cashflow statement because it is a small entity. ## **1.3. Fund accounting** The unrestricted funds are funds available for charitable purposes within the objectives of the Charity. The restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes. The cost of raising and administering such funds are charged against the specific fund. ## **1.4. Endowment funds** The endowment funds arise from the the six original constituent charities of the Trust and are added to annually. Dividend income arising from these funds is used by the Trustees as unrestricted income, as shown in the statement of financial activities. ## **1.5. Income** All income is included in the statement of financial activities when the Trust is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Income from investments is included in the year in which it is received. ## **1.6. Expenditure** Expenditure is recognised on an accrual basis as a liability as incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the Trust in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs are those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the Trust. **Page 13** ## **Harefield Parochial Charities** ## **Notes to the financial statements** ## **For the year ended 31 December 2022** ## **1.7. Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows: Land and buildings - Nil - Fixtures, fittings and equipment 25% Reducing balance basis The freehold land and buildings are carried at their revalued amount being its fair value at the date of revaluation. ## **1.8. Investments** Investments held as fixed assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the statement of financial activities. ## **1.9. Going Concern** The accounts have been prepared on the assumption that the Charity is able to carry on its activities as a going concern, which the trustees consider appropriate having regard to the circumstances. ## **1.10. Taxation** No taxation has been provided in the financial statement as the Trust applies all income to its charitable objective and is exempt in accordance with Section 478 of the Corporation Tax Act 2010. ## **2. Charitable activities (Social Housing and other Lettings)** |**Unrestricted**
**funds**
**£**
Weekly Maintenance Contributions
124,447
Rent Received
3,590
Ground Rent
1,500
Service Charge
4,742
134,279|**2022**
**Total**
**£**
124,447
3,590
1,500
4,742
134,279|**2021**
**Total**
**£**
124,756
3,440
1,500
4,099| |---|---|---| |||133,795| ## **3. Investments** |**Unrestricted**
**funds**
**£**
Interest Received
329
Dividend Income
3,981
4,310|**2022**
**Total**
**£**
329
3,981
4,310|**2021**
**Total**
**£**
155
3,879| |---|---|---| |||4,034| **Page 14** ## **Harefield Parochial Charities** ## **Notes to the financial statements** ## **For the year ended 31 December 2022** ## **4. Other** |Insurance Claims|**2022**
**Total**
**£**
-
-|**2021**
**Total**
**£**
1,575| |---|---|---| |||1,575| ## **5. Costs of charitable activities - by fund type** |**Unrestricted**
**funds**
**£**
Donations
5,425
Estate
43,197
Office
224
Depreciation on FF and equipment
23
Provision of funds
8,000
56,869|**2022**
**Total**
**£**
5,425
43,197
224
23
8,000
56,869|**2021**
**Total**
**£**
4,677
40,615
475
30
8,000| |---|---|---| |||53,797| ## **6. Governance costs** |**Unrestricted**
**funds**
**£**
Auditor remuneration
1,830
Legal fees
3,444
Mortgage Interest
26,144
31,418|**2022**
**Total**
**£**
1,830
3,444
26,144
31,418|**2021**
**Total**
**£**
1,830
-
28,142| |---|---|---| |||29,972| ## **7. Trustees' emoluments** No remuneration or expenses were paid to any Trustee, or to any person with a family or business connection with any Trustee during the year. **Page 15** ## **Harefield Parochial Charities** ## **Notes to the financial statements** ## **For the year ended 31 December 2022** |||**Land and**|**Fixtures,**||| |---|---|---|---|---|---| |**8.**|**Tangible fixed assets**|**buildings**|**fittings and**||| |||**freehold**|**equipment**||**Total**| |||**£**|**£**||**£**| ||**Cost**||||| ||At 1 January 2022 and||||| ||At 31 December 2022|3,300,000|9,260|3,309,260|| ||**Depreciation**||||| ||At 1 January 2022|-|9,170||9,170| ||Charge for the year|-|23||23| ||At 31 December 2022|-|9,193||9,193| ||**Net book values**||||| ||At 31 December 2022|3,300,000|67|3,300,067|| ||At 31 December 2021|3,300,000|90|3,300,091|| The 14 new Burbery Close almshouses and the small office for the Trust were professionally valued on an open market value basis on 30 March 2016, at £2,800,000. In addition the Countess of Derby's Almshouses are valued at £500,000 being the market value in the opinion of the trustees. |**Investments**|**Endowment**|| |---|---|---| ||**Funds**|| ||**£**|| |**Valuation**||| |At 1 January 2022|155,158|| |Revaluations|(21,828|)| |At 31 December 2022|133,330|| |**Investments (Other)**|24,286|| |**Total**|157,616|| ## **9. Investments** |**10.**
**Debtors**
Amounts owed by Residents and tenants
Prepayments|**2022**
**£**
5,881
4,733
10,614|**2021**
**£**
5,529
3,971| |---|---|---| |||9,500| **Page 16** ## **Harefield Parochial Charities** ## **Notes to the financial statements** ## **For the year ended 31 December 2022** |**11.**
**Creditors: amounts falling due**
**within one year**
Bank Loan (secured) repayments due within the next 12 months
Trade creditors
Deposits
Accruals and deferred income
The bank loan is secured on the Trust's properties.
**12.**
**Creditors: amounts falling due**
**after more than one year**
Bank loan (Secured)
The bank loan is secured on the Trust's properties.|**2022**
**£**
44,528
188
3,990
1,831
50,537
**2022**
**£**
600,902|**2021**
**£**
42,891
133
3,467
1,831
48,322
**2021**
**£**
645,431| |---|---|---| ## **13. Provisions for funds** |**Emergency**
**Cyclical**
**Repair**
**Maintenance**
**Funds**
**Funds**
**(ERF)**
**(CMF)**
**£**
**£**
At 1 January 2022
)
(16,131
)
(37,407
Charge for the year
)
(600
)
(7,400
At 31 December 2022
)
(16,731
)
(44,807|**Total**
**£**
)
(53,538
)
(8,000
)
(61,538| |---|---| **-** **Page 17** ## **Harefield Parochial Charities** ## **Notes to the financial statements** ## **For the year ended 31 December 2022** ## **14. Analysis of net assets between funds** |**Analysis of net assets between funds**||||||| |---|---|---|---|---|---|---| ||**Unrestricted**||**Restricted **|**Endowment**|**Total**|| ||**funds**||**funds**|**funds**|**funds**|| ||**£**||**£**|**£**|**£**|| |Fund balances at 31 December 2022 as represented by:||||||| |Tangible fixed assets|2,249,461||1,050,606|-|3,300,067|| |Investment assets|24,287||-|133,329|157,616|| |Current assets|96,188||-|-|96,188|| |Current liabilities|(50,537|)|-|-|(50,537|)| |Long-term liabilities|(600,902|)|-|-|(600,902|)| |Provision for funds|(61,538|)|-|-|(61,538|)| ||1,656,959||1,050,606|133,329|2,840,894|| **15. Unrestricted funds** |**At**||||||||**At**| |---|---|---|---|---|---|---|---|---| |**1 January**|**Incoming**|**Outgoing**|||||**Gains and 31 December**|| |**2022**|**resources**|**resources**||**Transfers **|**Investment**||**losses**|**2022**| |**£**|**£**|**£**||**£**|**£**||**£**|**£**| |1,602,492|138,589|(88,288|)|4,284|(120|)|2|1,656,959| ## **16. Restricted funds** **17. Endowment funds** ||||||**At**|||**At**| |---|---|---|---|---|---|---|---|---| |||||**1**|**January **||**31 December**|| ||||||**2022**|||**2022**| ||||||**£**|||**£**| |||||1,050,606|||1,050,606|| ||**At**|||||||**At**| |**1**|**January**|||**Gains and **|||**31 December**|| ||**2022**|**Transfers**|||**(losses)**|||**2022**| ||**£**|**£**|||**£**|||**£**| ||155,157|(4,284|)||(17,544|)||133,329| ## **18. Transactions with trustees** There were no transactions with related parties with those persons and entities that are closely connected to the Charity or its trustees referred to as related parties. **Page 18**