# **Beccles Townlands Charity Unaudited report and financial statements** **For the year ended 31 October 2023** ## **Charity Registration Number 210714** ## **Beccles Townlands Charity** ## **Contents** ## **Year ended 31 October 2023** **----- Start of picture text -----**
Page
Trustees Annual Report 1 - 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 - 13
**----- End of picture text -----**
## **Beccles Townlands Charity** ## **Trustees Annual Report** ## **Year ended 31 October 2023** The Trustees present their report and unaudited financial statements for the year ended 31 October 2023. The financial statements comply with the Charities Act 2011, the Governing Document 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) (effective 1 January 2015). ## **Reference and Administrative Information** |**Reference and Administrative**|**Information**|| |---|---|---| |**Charity Name**|The Town Lands|| |**Charity Working Name**|Beccles Townlands Charity|| |**Charity Registration No.**|210714|| |**Principal Address**|Leman House|| ||Ballygate|| ||Beccles|| ||Suffolk NR34 9ND|| |**Chairman/Collector**|Mr K J Leggett (Resigned 6 December 2023)|| ||Dr T J Morton (Elected 6 December 2023)|| |**Trustees**|Mrs G M Campbell (Resigned 6 December 2023)|| ||Mr K Gregory|| ||Mrs J I Langeskov|| ||Mr K J Leggett|| ||Mr J M Hartley|| ||Mr J B Cook|| ||Mr N A Hickman|| ||Mr R J Seppings|| ||Mrs F L Baldry|| ||Dr T J Morton|| ||Mr M Jermey|| |**Secretary**|Mr S J Lamb|| |**Land Agent**|Mr G N Durrant|| |**Independent Examiner**|Mark Proctor FCA|| ||Lovewell Blake LLP|| ||The Wherry|| ||Quay Street|| ||Halesworth|| ||Suffolk IP19 8ET|| |**Bankers**|Barclays Bank Plc|| ||New Market Place|| ||Beccles|| ||NR34 9HD|| |**Solicitors**|Sprake & Kingsley|| ||16 Broad Street|| ||Bungay|| ||Suffolk NR35 1EN|| |**Stockbrokers**|Barratt & Cooke|CCLA| ||5 Opie Street|Senator House| ||Norwich|85 Queen Victoria Street| ||Norfolk|London| ||NR1 3YS|EC4V 4ET| 1 ## **Beccles Townlands Charity** ## **Trustees Annual Report (Continued)** ## **Year ended 31 October 2023** ## **Objectives and Activities** The Trustees' mandate is to distribute funds for the benefit of individuals and organisations who reside or operate within the Beccles town boundary. The donations range from those for needy individuals to the upkeep and improvement of facilities used by Beccles' residents. The Charity is well known within the town and the Trustees meet bi-monthly to evaluate written requests for financial assistance. ## _**Public Benefit**_ The Trustees have taken due regard to the guidance published by the Charity Commission on public benefit. The beneficiaries of the Charity's activities are the residents of and organisations either operating in or serving Beccles which are in need of advice or financial assistance. ## **Achievements** During the year ended 31 October 2023, the Charity made 15 donations and grants distributing a total of £83,388 to various local organisations and individuals as detailed below. Organisations:Beccles Society of Artists, Parish of Beccles, Beccles Amateur Sailing Club, Beccles Caxton Football Club, Sir John Leman High School, Fox & Hounds Social Club, Beccles Bombers Basketball Club, Beccles Disability Football, Beccles Food Appeals, Town Coronation Event, Beccles Library, Citizens Advice, Beccles & District Museum, Friends of Albert Pye School, Friends of Ravensmere School. Individuals:Support was given to various residents in the form of white goods and computer equipment. Support was also given to a school pupil to attend Sports World Championships. ## **Financial Review** The Charity had a deficit of expenditure over income of £94,627 (2022 - £35,628) after grants and donations of £83,388 (2022 - £132,575). In addition there was a revaluation of investments of £26,082 (2022 - £167,569) and a revaluation of investment property of £2,954,173 leaving a net surplus of £2,833,464 (2022 - Net deficit of £203,197). The total funds held at the year end totalled £9,515,816 (2022 - £6,682,352). The results for the year are set out in detail on pages 5 to 13. 2 ## **Beccles Townlands Charity** ## **Trustees Annual Report (Continued)** **Year ended 31 October 2023** ## **Reserves Policy** The net current assets of the Charity at 31 October 2023 totalled £313,834 which comprised of current assets of £354,501 less current liabilities of £40,667. It is the Trustees' policy to maintain a fund of £200,000 in net current assets to cover both expected annual expenditure and any emergency demands and the policy is reviewed annually. Designated funds also include £16,540 (2022: £23,242) which represents monies that the Trustees have allocated towards future grants. ## **Structure, Governance and Management** ## _**Governing Document**_ Beccles Townlands Charity is governed by a Trust Deed dated 1544 and constitution which was amended 5 October 2011 and is a registered Charity (Registration number: 210714). ## _**Recruitment and Appointment of Trustees**_ In selecting persons to be appointed as Trustees, account is taken of the benefits of appointing people whose qualifications, employment or knowledge will make a contribution to the pursuit of the objects or the management of the Charity. ## _**Induction and Training of Trustees**_ On appointment, Trustees will be provided with copies of: - The Trust Deed. - Minutes of Trustees meetings. - The latest set of financial statements. ## _**Organisational Structure**_ The Charity is administered by the Trustees. The Trustees meet regularly to discuss all governance matters concerning the Charity. At these meetings the Trustees consider and make decisions on actions to be taken in accordance with the Charity's objectives. Decisions are reached by majority vote where unanimity has not been achieved. ## **Independent Examiner** A resolution to reappoint Mark Proctor FCA as independent examiner will be passed at the 2024 Annual General Meeting. Signed on behalf of the Trustees on 5 June 2024. Dr T J Morton Collector 3 ## **Beccles Townlands Charity** ## **Independent Examiner's report to the Trustees of Beccles Townlands Charity** ## **Year ended 31 October 2023** I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 October 2023 which comprise the statement of financial activities, balance sheet and the related notes. ## **Responsibilities and basis of report** As the charity's trustees 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 charity's financial statements carried out under section 145 of the 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 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material 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 financial statements do not accord with those records; or - 3) the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination. 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 accounts to be reached. Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. Mark Proctor FCA Independent Examiner Lovewell Blake LLP Chartered Accountants The Wherry Quay Street Halesworth Suffolk IP19 8ET 12 August 2024 4 ## **Beccles Townlands Charity** ## **Statement of Financial Activities** ## **Year ended 31 October 2023** **----- Start of picture text -----**
2023 2022
Note £ £
Income from: (unrestricted general funds)
Investments 4 145,674 146,165
Charitable activities 5 4,144 8,115
Total incoming resources 149,818 154,280
Expenditure on: (unrestricted general funds)
Raising funds
Investment management costs 6 58,781 30,419
Charitable activities 7 113,019 159,489
Total resources expended 171,800 189,908
Net (outgoing) resources before investment gains (21,982) (35,628)
Revaluation of investments 12 (98,726) (167,569)
Revaluation of investment property 11 2,954,173 -
Revaluation of freehold property 10 - -
Net movement in funds 2,833,465 (203,197)
Unrestricted general funds at 1 November 2022 6,682,352 6,885,549
Unrestricted general funds at 31 October 2023 15 9,515,817 6,682,352
**----- End of picture text -----**
Incoming resources and resources expended above include all gains and losses recognised in the year and are derived from continuing activities. The notes on pages 7 to 13 form an integral part of the financial statements. 5 ## **Beccles Townlands Charity** ## **Balance Sheet** ## **Year ended 31 October 2023** **----- Start of picture text -----**
2023 2022
Note £ £ £ £
Fixed Assets
Tangible fixed assets 10 221,446 227,316
Investment assets: Land and property 11 7,257,000 4,279,656
Investment portfolio 12 1,723,537 1,899,618
8,980,537 6,179,274
9,201,983 6,406,590
Current Assets
Debtors 13 176,103 91,364
Cash at bank and in hand 178,398 210,103
354,501 301,467
Current liabilities
Creditors due within one year 14 40,667 25,705
Net current assets 313,834 275,762
9,515,817 6,682,352
Unrestricted funds
General fund 15 9,499,277 6,659,110
Designated fund 15 16,540 23,242
9,515,817 6,682,352
**----- End of picture text -----**
These financial statements were approved by the Trustees on 5 June 2024 and signed on their behalf by:- Mr K Gregory Dr T J Morton Trustee Collector The notes on pages 7 to 13 form an integral part of the financial statements. 6 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements** ## **Year ended 31 October 2023** ## **1 General information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Leman House, Ballygate, Beccles, Suffolk, NR34 9ND. ## **2 Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. The charity has applied Update Bulletin 1 as published on 2 February 2016 and Update Bulletin 2 published on 5 October 2018. The financial statements have been prepared to give a 'true and fair' view and 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 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The charity constitutes a public benefit entity as defined by FRS 102. ## **3 Accounting policies** ## **(a) Basis of accounting** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Basis of preparation: The accounts (financial statements) have been prepared using historic cost basis as modified for certain assets at fair value, 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)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). The accounts have also been prepared in accordance with Update Bulletin 1 issued in February 2016 for reporting periods beginning on or after 1 January 2016, which has been early adopted as permitted. The accounts (financial statements) have been prepared to give a 'true and fair' view and 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 Accounting and Reporting by 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. 7 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements (Continued)** ## **Year ended 31 October 2023** ## **Accounting policies (continued)** ## **(b) Fund accounting** The funds held by the Charity are:- ## _Unrestricted Funds:_ _Designated Funds_ – The Trustees may, at their discretion, set aside funds for specific purposes which would otherwise form part of the general reserves of the Charity. _General Funds –_ These are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. ## **(c) Income** All income is included in the Statement of Financial Activities when the Charity 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:- - Investment income is included gross in the accounting period in which it is receivable. - Income from charitable activities are accounted for when earned. The Charity has an option to tax on several investment properties for which the income and attributable expenditure are shown net of VAT. The remaining income and non-attributable expenditure is shown gross of irrecoverable VAT. ## **(d) Expenditure** All expenditure is included on an accruals basis as the liability is incurred. All costs have been directly attributed to one of the functional categories of resources expended in the Statement of Financial Activities. - Investment management costs comprises those costs incurred by the Charity in maintaining its investment assets. - Charitable activities comprises those costs incurred by the Charity 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 include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the accountancy and independent examiner’s fees and any other costs linked to the strategic management of the Charity. ## **(e) Grants** Grants are recognised in the year in which they are authorised, communicated and become unconditionally payable. 8 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements (Continued)** ## **Year ended 31 October 2023** ## **Accounting policies (continued)** ## **(f) Fixed assets** Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost over their expected useful economic lives. - Freehold property is depreciated at 2% straight line. - Equipment is depreciated at 25% reducing balance. ## **(g) Investment properties** Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is recognised in the Statement of Financial Activities. ## **(h) Fixed asset investments** Investments are shown at their open market value at the balance sheet date. Any gain or loss arising on the valuation is recognised in the Statement of Financial Activities. ## **(i) Cash at bank** Cash at bank includes cash, deposit and investment account balances. ## **(j) Creditors** Creditors with no stated interest and payable within one year are recorded at transaction price. ## **(k) Going concern** The financial statements have been prepared on a going concern basis as the trustees believe no material uncertainties exist. ## **4 Investments (unrestricted general funds)** |Bank interest
Unit trust distribution income
Dividend income from share portfolio
Rents receivable|**2023**
**£**
1,588
54,448
-
89,638
145,674|**2022**
**£**
425
56,871
1,107
87,762
146,165| |---|---|---| 9 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements (Continued)** ## **Year ended 31 October 2023** ## **5 Income from charitable activities (unrestricted general funds)** |**2023**
**£**
Shooting rights
82
Farming grants
3,986
Wayleaves
76
4,144
**6**
**Investment management costs (unrestricted general funds)**
**2023**
**£**
Property repairs and services
100,988
Legal and professional fees
10,572
Rates, water and insurance
18,152
Light and heat
1,713
Loss/(gain) on disposal of investments
(72,644)
58,781
**7**
**Charitable activities (unrestricted general funds)**
**2023**
**£**
General expenses
521
Computer and software
1,199
Grants payable (note 8)
60,146
Donations
23,242
Depreciation (note 10)
5,871
Governance costs:-
Independent Examiner's fee
1,440
Honorarium
20,600
113,019|**2022**
**£**
82
7,711
322
8,115
**2022**
**£**
14,220
8,105
15,706
1,123
(8,735)
30,419
**2023**
**£**
90
995
107,591
24,984
5,878
1,351
18,600
159,489| |---|---| ## **8 Grants payable** Grants recognised during the period are analysed as follows:- |**2023**
**2023**
**Payable**
**Payable**
**to Organisations**
**to Individuals**
**Purpose**
**£**
**£**
Social and welfare
46,046
-
Sports and education
11,300
2,800
57,346
2,800|**2023**
**Total**
**£**
46,046
14,100
60,146|**2022**
**Total**
**£**
70,022
37,569
107,591| |---|---|---| 10 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements (Continued)** ## **Year ended 31 October 2023** ## **Grants payable (continued)** Below are details of the activities which have been funded by grants. **----- Start of picture text -----**
||| |---|---| |£| |Beccles Society of Artists - Support with exhibition|800| |Parish of Beccles - Support with food for parishioners|14,000| |Beccles Amateur Sailing Club - Support with clubhouse floor repairs|2,500| |Individual youth grant to complete at weightlifting world championships|2,800| |Beccles Library - Tables and chairs|5,460| |Beccles Disability Football - Support with youth activities|4,800| |Beccles Bombers Basketball Club|4,000| |Fox & Hounds Social Club - Support with club activities|6,000| |Beccles Caxton Football Club - Minibus appeal|3,000| |Sir John Leman High School - Support with theatre curtains and equipment|16,786| **----- End of picture text -----**
## **9 Trustees remuneration and expenses** The Trustees received no remuneration or expenses during the year (2022 - £Nil). ## **10 Tangible fixed assets** **----- Start of picture text -----**
||||| |---|---|---|---| |Freehold| |Property|Equipment|Total| |£|£|£| |Cost| |At 1 November 2022 and 31 October 2023|292,500|996|293,494| |Revaluation|-|-|-| |Additions|-|-|-| |-|-|-| |Disposals| |292,500|996|293,496| |Depreciation| |At 1 November 2022|65,268|911|66,179| |Charge for year|5,850|21|5,871| |-|-|-| |Depreciation on disposals| |At 31 October 2023|71,118|932|72,050| |Net book value| |At 31 October 2023|221,382|64|221,446| |At 31 October 2022|233,082|111|233,193| **----- End of picture text -----**
11 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements (Continued)** ## **Year ended 31 October 2023** |**11 Investment assets - Land and property**
Cost or valuation
As at 1 November 2022
Additions at cost
Revaluation
Disposals
Unrealised losses on revaluation
As at 31 October 2023
The cost of investment properties is £2,213,628|**2023**
**£**
4,279,656
23,171
2,954,173
-
-
7,257,000|**2022**
**£**
4,037,500
242,156
-
-
-
4,279,656| |---|---|---| The market value of the land and property as at November 2023 was valued by Durrants Estate Agents at £7,257,000. |**12 Investment assets - Investment portfolio**
Cost or valuation
As at 1 November 2022
Additions at cost
Disposals at valuation
Unrealised loss on year end valuation
As at 31 October 2023
**Holding**
86,474.86 COIF income units
Investment portfolio
**13**
**Debtors**
Debtors
Prepayments and accrued interest|**Listed**
**Investments**
**£**
1,899,618
-
(77,355)
(98,726)
-
1,723,537
**£**
1,723,537
1,723,537
**2023**
**2022**
**£**
**£**
33,326
7,696
142,777
83,668
176,103
91,364| |---|---| 12 ## **Beccles Townlands Charity** ## **Notes to the Financial Statements (Continued)** ## **Year ended 31 October 2023** |**14**
**Creditors due within one year**
Creditors
Independent examiner's fees
Accruals and deferred income
VAT|||**2023**
**£**
5,542
1,430
32,300
1,395|**2022**
**£**
10,677
1,315
12,310
1,403| |---|---|---|---|---| ||||40,667|25,705| |**15**
**Statement of funds**
Unrestricted general fund
Designated funds|**At**
**1 November**
**2022**
**£**
6,659,110
23,242|**Suplus for**
**the year**
**£**
2,840,167
(6,702)|**Transfers**
**£**|**At**
**31 October**
**2023**
**£**
9,499,277
16,540| ||6,682,352|2,833,465|-|9,515,817| |Represented by:-
Tangible fixed assets
Investment assets
Net current assets
At 31 October 2023, the Trustees had allocated
made post-year end.||**Unrestricted**
**General Funds**
**£**
221,446
8,980,537
313,834
funds of £16,540|**Designated**
**Funds**
**£**
-
-
-
(2022: £23,242) towards|**Total**
**£**
221,446
8,980,537
313,834
grants to be| |||9,515,817|-|9,515,817| 13