| Contents | Page: | |
|---|---|---|
| Feoffees and | advisers | |
| Registered Charity Numbers and Address |
||
| Report ofthe | Feoffees | |
| Independent | Examiner's report |
|
| Statement of | financial activities | |
| Balance sheet | ||
| Notes forming | part ofthe financial statements | 10 - 19 |
| Chairman | |||||
|---|---|---|---|---|---|
| Mr Paul Knights | C | Term expires June 2027 | |||
| Other Feoffees | |||||
| Mr John Augustine | W | Term expires December 2024 | |||
| Mrs Hannah Black |
C | Term expires June 2027 | |||
| Mrs Carol Bull (Ex) Mr Patrick Chung (appointed |
1"June 2022) | W T |
Resigned June 2021 Term expires June 2026 |
||
| Mr James Cockram Mrs Virginia Dean (appointed Mrs Susan Glossop (appointed |
2"' March 2021) 7'" June 2022) |
C C W |
Term expires March 2027 Term expires December 2026 Term expires June 2026 |
||
| Mr John Griffiths (Ex) | W | Resigned June 2022 | |||
| Rev Simon Harvey | (Ex) | C | Resigned March 2022 | ||
| Very Rev Joe Hawes | C | Term expires September 2023 | |||
| Mr Paul Hopfensperger | (Ex) | T | Resigned November 2021 |
||
| Mr Gregory Luton Mrs Birgitte Mager |
(appointed | 1"June 2021) | C W |
Term expires June 2027 Term expires June 2025 |
|
| Mr Mark Merriam Mr Thomas Murray |
(appointed | 1"December 2021) | C T |
Term expires March 2025 Term expires September 2025 |
|
| Mr Oliver Peacock | (Ex) | C | Resigned March 2022 |
||
| Mr Simon Pott | C | Term expires December 2026 | |||
| Mr Henry Saltmarsh | C | Term expires September 2025 | |||
| Mrs Susan Soper | C | Term expires December 2026 | |||
| C = Co-opted Feoffee | W = West Suffolk Council | nominee | T = Town Council nominee |
| Note | General | Total | Total | 2021 | 2020 | ||
|---|---|---|---|---|---|---|---|
| Fund | Designated | Restricted | Total | Total | |||
| Charity | (Note 2) | ||||||
| E | E | ||||||
| Income | |||||||
| from charitable activities: | |||||||
| Residents Contributions | 163,911 | 34,786 | 198,697 | 201,433 | |||
| Charitable Rents |
1,300 | 1,300 | |||||
| from activities togenemte | funds: | ||||||
| Investment Income |
|||||||
| Rent | 19,943 | 19,943 | 19,500 | ||||
| COIF Shares | 5,670 | 4,102 | 11,935 | 21,707 | 21,284 | ||
| Bank Interest | 26 | 26 | 244 | ||||
| Wayleaves | 407 | 407 | 182 | ||||
| Sundry Income | 728 | 728 | 722 | ||||
| Total incoming resources | ~191959 | ~4102 | ~46747 | ~242 808 | ~243375 | ||
| Expenditure | |||||||
| Costofraising funds | |||||||
| Investment Property expenditure |
4,372 | 4,372 | 3,092 | ||||
| Charitable actlvities- | |||||||
| Almshouse provision |
|||||||
| Maintenance | 35,700 | 15,304 | 51,004 | 23,922 | |||
| Running costs | 52,991 | 52,991 | 48,908 | ||||
| Staff and support costs | 8 | 69,789 | 20,100 | 89,889 | 82,651 | ||
| Renovation | 89,629 | 89,629 | 6,865 | ||||
| Charitable grants and donations |
5200 | ~5200 | ~5850 | ||||
| ~40604 | 2778 | ||||||
| Net income/(expenditure) | before | ||||||
| Investment gains |
29,107 | (85,527) | 6,143 | (50,277) | 72,087 | ||
| Net gains on investments | |||||||
| Unrealised | 100,760 | 82,446 | 65,887 | 249,093 | 117,003 | ||
| Net income | QJIILI | ~2030 | |||||
| Transfer between funds Fund balances brought forward |
(29,107) 955 669 |
29,107 ~15 |
~17335 | ~24 | 5735799 | ||
| Fund balances carried forward | ~6123705 | ~5924889 |
| Balance sheet asat 31 | "Decembe | r 2021 | ||||
|---|---|---|---|---|---|---|
| Note | General | Total | Total | 2021 | 2020 | |
| Fund | Designated | Restricted | Total | Total | ||
| Charity | Charity | |||||
| E | E | |||||
| FIXEDASSETS | ||||||
| Tangible Assets | 3 | 3,000,000 | 700,000 | 3,700,000 | 3,700,000 | |
| Investment Property |
4 | 452,000 | 452,000 | 452,000 | ||
| Investments | 5 | 707,734 | 575,772 | 514,083 | 1,797,589 | 1,548,496 |
| ~11 7 4 |
3575 772 | ~114 83 | ~5949589 | ~5700 96 | ||
| CURRENT ASSETS | ||||||
| Debtors &prepayments | 6 | 5 120 | 5,120 | 6,415 | ||
| Bank Balances | ||||||
| Deposit accounts | 121,096 | 23,353 | 144,449 | 144,431 | ||
| Current accounts | 38,843 | 38,843 | 92,311 | |||
| Cash in hand | 26 | 26 | 73 | |||
| CURRENT LIABIUTIES | ||||||
| Creditors and accruals | 7 | ~14322 | ~14322 | ~18837 | ||
| NET CURRENT ASSETS | 150,763 | 23,353 | 174,116 | 224,393 | ||
| Initial Fund Balances | ~254 068 | 112139 | 141929 | |||
| NET ASSETS | ||||||
| FUND BAlANCES |
| Note | General | Designated | Restricted | Restricted | 2020 | 2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| Fund | Funds | Funds | Total | Total | |||||
| E | 6 | ||||||||
| Income | |||||||||
| Fmm charitable activities: |
|||||||||
| Residents Contributions | 165,451 | 35,992 | 201,443 | 205,838 | |||||
| Charitable Rents |
650 | ||||||||
| Fmm activities ro | genemte | funds: | |||||||
| Investment Income |
|||||||||
| Rent | 19,500 | 19,500 | 19,500 | ||||||
| COIF Shares | 5,560 | 4,022 | 11,702 | 21,284 | 20,861 | ||||
| Bank Interest | 244 | 244 | 207 | ||||||
| Wayleaves | 182 | 182 | 316 | ||||||
| Sundry Income | 722 | 722 | ~1151 | ||||||
| Total incoming resources | |||||||||
| Expenditure | |||||||||
| Costofnrislng funds | |||||||||
| Investment Property expenditure |
3,092 | 3,092 | 3,344 | ||||||
| Charitable activities | |||||||||
| Almshouse provision |
|||||||||
| Maintenance | 20,269 | 3,653 | 23,922 | 17,472 | |||||
| Running costs | 48,908 | 48,908 | 53,457 | ||||||
| Staff and support | costs | 63,763 | 18,888 | 82,651 | 80,348 | ||||
| Renovation | 6,865 | 6,865 | 3,620 | ||||||
| Charitable grants |
and donations | ~5850 | 5850 | ~2200 | |||||
| Total expenditure | ~136032 | ~6865 | ~28 | 391 | ~1712$8 | ~160441 | |||
| Net income/(expenditure) | before | ||||||||
| investment gains |
55,383 | (2,843) | 19,547 | 72,087 | 88,082 | ||||
| Net (losses)/gains | on investments | 48663 | 40051 | 28 | 289 | 117003 | 233824 | ||
| Net income | 104,046 | 37,208 | 472)36 | 189,090 | 321,906 | ||||
| Transfer between | funds | ~55 383) | 55383 | ||||||
| Net movement in |
funds | 48,663 | 92,591 | 47,836 | 189,090 | 321,906 | |||
| Fund balances bought forward | ~907006 | ~392 4 | ~125 | ~5735799 | 1 93 |
||||
| Fund balances carried forward | ~55669 | ~ | ~ | ~5924 89 |
| . TANGIBLE ASSETS |
|||
|---|---|---|---|
| Freehold | Fixtures and | ||
| property | fittings | Total | |
| f | |||
| Costor valuation | |||
| At 1January 2021and 31December 2021 | 3,700,000 | 1,734 | 3,701,734 |
| Depreciation | |||
| At 1January 2021 | 1,734 | 1,734 | |
| Charged during the year |
|||
| At 31December 2021 | 1,734 | 1,734 | |
| Net book value | |||
| At 31December 2021 | 3,700,000 | 3,700,000 | |
| At 31December 2020 | 3,700,000 | 3,700,000 |
| Market value at | Market value at | Market value at31 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1January 2021 | Gains/ (losses) | December 2021 | |||||||
| f | f | f | |||||||
| Charities Official Investment |
Fund | ||||||||
| - Income shares | 737,883 | 106,345 | 844,228 | ||||||
| -Accumulation | shares | 810,613 | 142,748 | 953,361 | |||||
| 1,548,496 | 249,093 | 1,797,589 | |||||||
| 6 | DEBTORS | ||||||||
| 2021 | 2020 | ||||||||
| f | |||||||||
| Rents, contributions | and deposits | receivable | 2,511 | 3,910 | |||||
| Prepayments | 2,609 | 2,505 | |||||||
| 5,120 | 6,415 | ||||||||
| 7 | CREDITORS | ||||||||
| 2021 | 2020 | ||||||||
| f | |||||||||
| Taxes and social security | 1,960 | ||||||||
| Accrua Is and deferred | income | 14,322 | 16,877 | ||||||
| 14,322 | 18,837 |
| 8 | ALMSHOUSES MANAGEMENT | ALMSHOUSES MANAGEMENT | ALMSHOUSES MANAGEMENT | ALMSHOUSES MANAGEMENT | AND OTHER | AND OTHER | SUPPORT COSTS | ||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||
| E | |||||||||
| Staff costs (note 10) | 68,289 | 66,275 | |||||||
| Staff expenses | 580 | 331 | |||||||
| Insurances | 3,891 | 3,812 | |||||||
| Telephone | 1,094 | 1,002 | |||||||
| Subscriptions | 924 | 515 | |||||||
| Office expenses | 4,302 | 2,162 | |||||||
| Residents expenses | 9,009 | 6,756 | |||||||
| Independent | Examination | fees | 1,800 | 1,798 | |||||
| 89,889 | 82,651 | ||||||||
| 9 | INDEPENDENT | EXAMINATION | REMUNERATION | ||||||
| 2021 | 2020 | ||||||||
| E | E | ||||||||
| Fees payable | forthe Independent | Examination | ofthe | ||||||
| financial statements | 1,800 | 1,798 | |||||||
| 10 | STAFF COSTS AND | FEOFFEES' | REMUNERATION | ||||||
| 2021 | 2020 | ||||||||
| E | E | ||||||||
| Salaries | 67,169 | 63,859 | |||||||
| Social security | costs | 165 | 1,014 | ||||||
| Pension costs | 955 | 1,402 | |||||||
| 68,289 | 66,275 |
| (a)Summary | Balance at | Net | Transfers | Investment | Balance at | |||
|---|---|---|---|---|---|---|---|---|
| 01Jan | changesin | Gains | 31Dec | |||||
| 2021 | resources | 2021 | ||||||
| f | f | E | f | |||||
| (1)General Fund | 955 669 | 29107 | ~29 107 | 100760 | 1056429 | |||
| (2) Designated Funds |
||||||||
| Tangible assets held | for | |||||||
| charitable purposes |
3,000,000 | 3,000,000 | ||||||
| Cyclical maintenance | ||||||||
| Extraordinary maintenance |
389,542 | (89,629) | 14,553 | 62,350 | 376,816 | |||
| Almshouse rebuilding |
~272 343 | ~4102 | 14554 | 20096 | 311095 | |||
| 3661885 | ~85 527 | ~29107 | ~82446 | ~3687911 | ||||
| (3) Restricted Funds |
||||||||
| Almshouse Residents |
97,613 | (1,128) | 13,029 | 109,514 | ||||
| Batteley and Sutton | Relief in Need | 67,954 | 709 | 8,352 | 77,015 | |||
| SirJohn James (Medical | and | Surgical) | 20,263 | 229 | 2,088 | 22,580 | ||
| Guildhall Feoffment |
Educational | 20,393 | 528 | 2,583 | 23,504 | |||
| Dr Clopton's —General | Fund | 167,851 | 47 | 2,583 | 19,767 | 190,248 | ||
| Dr Clopton's —Endowment | Fund | 88,629 | 2,583 | (2,583) | 12,651 | 101,280 | ||
| Kytson Trust | 371,636 | (8,340) | 7,417 | 370,713 | ||||
| Fennell Memorial Homes |
472996 | 11515 | 484511 | |||||
| 1307335 | 6143 | 65887 | 1379365 | |||||
| Total Funds | ||||||||
| (b) Analysis of Net Assets | Charitable | Investment | Investments | Net Current | Total at31 | |||
| Property | Property | Assets | Dec2021 | |||||
| f | f | f | f | F. | ||||
| (1)General Fund |
452 000 | 707734 | (~103305 | ~1056429 | ||||
| (2)Designated Funds |
||||||||
| Tangible assets held | for | |||||||
| charitable purposes |
3,000,000 | 3,000,000 | ||||||
| Extraordinary maintenance |
416,234 | (39,418) | 376,816 | |||||
| Almshouse rebuilding |
~159538 | ~1515 7 | ~311095 | |||||
| ~3000000 | ~575 772 | ~112139 | ~36 7911 |
| (b) Analysis ofNet Assets | Charitable | Investment | Investments | Net Current | Total at 31 | ||
|---|---|---|---|---|---|---|---|
| Property | Property | Assets | Dec2021 | ||||
| E | 6 | E | |||||
| (3) Restricted Funds |
|||||||
| Almshouse Residents |
103,425 | 6,089 | 109,514 | ||||
| Batteley and Sutton Relief in Need | 66,304 | 10,711 | 77,015 | ||||
| SirJohn James (Medical | and | Surgical) | 16,577 | 6,003 | 22,580 | ||
| Guildhall Feoffment Educational |
20,502 | 3,002 | 23,504 | ||||
| Dr Clopton's —General | Fund | 156,920 | 33,328 | 190,248 | |||
| Dr Clopton's —Endowment | Fund | 100,432 | 848 | 101,280 | |||
| Kytson Trust | 300,000 | 49,923 | 20,789 | 370,712 | |||
| Fennell Memorial Homes Total Assets |
400000 ~70 |
~0 | ~17 | ~84512 ~12 2 ~ |
~484512 ~1379365 ~12 |