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2022-12-31-accounts

REGISTERED CHARITY NUMBER: 211060

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Feoffees’ Report and Financial Statements

Year Ended

31 December 2022

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Feoffees’ report and financial statements for the year ended 31 December 2022

Contents Page:
Feoffees and advisers 1
Registered Charity Numbers and Address 2
Report of the Feoffees 3 - 6
Independent Examiner’s report 7
Statement of Financial Activities 8
Balance sheet 9
Notes forming part of the financial statements 10 - 19

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Feoffees and Advisers

FEOFFEES

Chairman
Mr Paul Knights C Term expires June 2027
Other Feoffees
Mr John Augustine W Term expires December 2024
Ms Hannah Black C Term expires June 2027
Mr Patrick Chung (appointed 1stJune 2022) T Term expires June 2026
Mr James Cockram C Term expires March 2027
Mrs Virginia Dean C Term expires December 2026
Mrs Susan Glossop (appointed 7thJune 2022) W Term expires June 2026
Very Rev Joe Hawes C Term expires September 2023
Mr Gregory Luton C Term expires June 2027
Mrs Birgitte Mager W Term expires June 2025
Mr Mark Merriam (Vice Chair) C Term expires March 2025
Mr Thomas Murray T Term expires September 2025
Mr Simon Pott C Term expires December 2026
Mr Henry Saltmarsh C Term expires September 2025
Mrs Susan Soper C Term expires December 2026
Mr John Griffiths W Term expired June 2022
Rev Simon Harvey C Resigned March 2022
Mr Oliver Peacock C Resigned March 2022

C = Co-opted Feoffee W = West Suffolk Council nominee T = Town Council nominee

The Feoffees’ terms of office are determined by the Schemes for the Feoffment’s Almshouse Charities made by Order of the Charity Commissioners on 21 December 1988.

CLERK AND RECEIVER

Mrs Lynne Jardine

ALMSHOUSE SCHEME MANAGERS

Mrs Debra Kemp Miss Cindy Emsden Mrs Linda Mills Mrs Leah Morris

INDEPENDENT EXAMINERS

Whitings LLP, Chartered Accountants, Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY

1

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Registered Charity Numbers and Addresses

CHARITY REGISTRATION NOS.:

210228 The Charity of Sir Thomas and Lady Kytson 211060 Guildhall Feoffment 211062 Dr Clopton’s Charity 217497 The Fennell Memorial Homes 234048 Batteley & Sutton Relief in Need Charity 234049 Charity of Sir John James 234050 Guildhall Feoffment Almshouse Resident Charity 310466 Guildhall Feoffment Educational Foundation

CHARITY ADDRESS

The Office, 17 College Square, Bury St Edmunds, Suffolk, IP33 1NW

2

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Report of the Feoffees

The Feoffees present their report on the affairs of the Feoffment together with the financial statements and Independent Examiner’s report for the year ended 31 December 2022.

HISTORY, OBJECTIVES AND ACTIVITIES

The charities now known collectively as the Guildhall Feoffment date from the 15th century and the first benefaction to be received was that of Jankyn Smyth, a prominent citizen of Bury St Edmunds who died in 1481. Subsequently many other benefactors have added to the original endowment, the objects of their charities often reflecting the needs of the times in which they lived.

The principal activity of the Feoffment today is the provision and upkeep of its almshouses at College Square, Long Row Northgate Street, and Long Row Southgate Street, all in Bury St Edmunds. These presently provide sheltered accommodation for thirty elderly people of limited means.

The charities established for the upkeep of the almshouses and for the benefit of almshouse residents are administered under a Scheme of the Charity Commissioners for England and Wales dated 21 December 1988.

The Feoffees were appointed as Trustees of The Charity of Sir Thomas and Lady Kytson (referred to as the Kytson Trust in the attached financial statements) in January 2010 and Fennell Memorial Homes in July 2010. These two charities also provide sheltered almshouse accommodation for a further eight residents.

The Feoffees were appointed Trustees of Dr Clopton’s Charity in January 2007 that provides small pensions to a number of individuals. The Feoffees continue to administer this charity together with the Guildhall Feoffment Educational Foundation, the Sir John James Medical Charity, and the Batteley & Sutton Charities.

The Feoffees have referred to the Charity Commission’s guidance on public benefit when reviewing the charities’ aims and objectives and when planning future activities.

GOVERNANCE AND MANAGEMENT

The Guildhall Feoffment is governed by a board of Trustees known as Feoffees. The board consists of up to 17 Feoffees: five nominated and twelve co-opted. Three of the nominated Feoffees are appointed by the Borough of St Edmundsbury and two by the Bury St Edmunds Town Council. The chairman is responsible for the induction of any new Feoffee, which involves awareness of Trustees’ responsibilities, the governing document, administrative procedures and the history & philosophical approach of the charity. A new Feoffee receives a copy of the previous year’s annual report and accounts.

Feoffees meet quarterly whilst day-to-day management is delegated to the Clerk and Receiver who works in close co-operation with the Chairman of the Feoffee board. In addition, four scheme managers who provide daily support to residents of the almshouses assist the Clerk and Receiver.

3

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Report of the Feoffees (Continued)

Management meetings take place each week and are attended by the Chairman, the Clerk and Receiver and the Scheme Managers.

The Feoffees also undertake an annual inspection of all the Feoffment’s properties.

The Feoffees monitor the major strategic, business, and operational risks that the charities face and ensure that procedures and systems are established so as to lessen those risks.

ACTIVITIES AND PERFORMANCE

It has been another busy and successful year for the Feoffment. The main developments have been:

For the future, the Feoffees are determined to ensure the ongoing wellbeing of the almshouse residents and intend, when opportunity arises, to modernise and improve as appropriate the various almshouses.

4

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Report of the Feoffees (Continued)

FINANCIAL REVIEW, INVESTMENT POLICY AND RESERVES

The overall financial position has been affected by the fall in the value of the investments as at 31 December 2022. No change to the investment property valuation is considered appropriate at 31 December 2022.

The Charities have invested funds to generate income and maintain real capital values. Performance of investments is monitored by the Feoffees. 76% of the total investments are held in COIF collective funds with the remaining 24% invested in domestic property.

The Feoffment is primarily funded by contributions from almshouse residents. These contributions cover annual running costs including routine maintenance. However, they do not provide sufficient income to meet the costs of any major repair, refurbishment or rebuilding which given the age of the Feoffment almshouse properties could potentially be substantial.

The Feoffees have, over a number of years, established and accumulated funds designated for the purpose of meeting future maintenance and rebuilding costs. These designated funds are detailed in note 11 to the accounts.

At 31 December 2022 the charity held reserves of £986,044 on its general fund and funds designated for the rebuilding and maintenance of almshouses of £535,744. The Trustees have sought to build up investments so as to conserve capital and income in order that unanticipated expenditure and further improvement to the almshouses can be met. Against this background the Feoffees are satisfied that the current level of reserves held by the Feoffment is fully justified.

The Feoffees plan to review this policy in accordance with the Charity Commission’s guidelines on a regular basis, at least once a year.

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).

The law applicable to Charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

5

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Report of the Feoffees (Continued)

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper 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 Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner Reappointment

A resolution to appoint Mrs J King ACA of Whitings LLP as independent examiner will be proposed at the next Annual General Meeting.

This report was approved by the Trustees on 5[th] September 2023 and signed on their behalf by:

PA Knights Chairman

6

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Independent Examiner’s report

Independent Examiner’s Report to the Trustees of Guildhall Feoffment

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31[st] December 2022 which are set out on pages 8 to 19.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts 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:

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.

Jaimie King ACA For and behalf of:

Whitings LLP

Greenwood House Greenwood Court Skyliner Way Bury St Edmunds Suffolk IP32 7GY

Date: 5[th] September 2023

7

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Statement of Financial Activities for the year ended 31[st] December 2022

Note General Total Total 2022 2021
Fund Designated Restricted Total Total
Charity (Note 2)
£ £ £ £ £
Income
from charitable activities:
Residents Contributions 163,665 - 39,132 202,797 198,697
Charitable Rents 308 - - 308 1,300
from activities to generate funds:
Investment Income
Rent 20,662 - - 20,662 19,943
COIF Shares 5,819 4,210 12,248 22,277 21,707
Bank Interest - 945 945 26
Wayleaves 183 - - 183 407
Sundry Income 1,423 - - 1,423 728
Total incoming resources 192,060 4,210 52,325 248,595 242,808
Expenditure
Cost of raising funds
Investment Property expenditure 3,609 - - 3,609 4,372
Charitable activities -
Almshouse provision
Maintenance 38,201 - 15,519 53,720 51,004
Running costs 66,253 - - 66,253 52,991
Staff and support costs 8 71,978 - 20,326 92,304 89,889
Renovation - 112,536 - 112,536 89,629
Charitable grants and donations - - 8,424 8,424 5,200
180,041 112,536 44,269 336,846 293,085
Net income/(expenditure) before
investment gains/(losses) 12,019 (108,326) 8,056 (88,251) (50,277)
Net gains/(losses) on investments
Realised gains/(losses) 5 - 114,188 - 114,188 -
Unrealised gains/(losses) 5 (70,385) (170,048) (58,773) (299,206) 249,093
Net income (58,366) (164,186) (50,717) (273,269) 198,816
Transfer between funds (12,019) 12,019 - - -
Fund balances brought forward 1,056,429 3,687,911 1,379,365 6,123,705 5,924,889
Fund balances carried forward 986,044 3,535,744 1,328,648 5,850,436 6,123,705

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. An analysis by fund of the comparatives figures for 2021 is shown in note 2.

8

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Balance sheet as at 31[st] December 2022

Note
FIXED ASSETS
Tangible Assets
Investment Property
Investments
3
4
5
CURRENT ASSETS
Debtors & prepayments
Bank Balances
Deposit accounts
Current accounts
Cash in hand
6
CURRENT LIABILITIES
Creditors and accruals
7
NET CURRENT ASSETS
Initial Fund Balances
NET ASSETS
FUND BALANCES
11		 General
Fund
£
-
452,000
637,349
1,089,349
6,331
151,783
77,791
12
(23,632)
212,285
(315,590)
986,044
986,044		 Total
Designated
£
3,000,000
-
369,912
3,369,912
-
-
-
-
-
-
165,832
3,535,744
3,535,744		 Total
Restricted
£
700,000
-
455,310
1,155,310
23,580
-
-
-
23,580
149,758
1,328,648
1,328,648		 2022
Total
Charity
£
3,700,000
452,000
1,462,571
5,614,571
6,331
175,363
77,791
12
(23,632)
235,865
-
5,850,436
5,850,436		 2021
Total
Charity
£
3,700,000
452,000
1,797,589
5,949,589
5,120
144,449
38,843
26
(14,322)

174,116
-
6,123,705
6,123,705

These financial statements were approved at a meeting of the Feoffees on 5[th] September 2023.

Signed on behalf of the board of Feoffees:

PA Knights HR Saltmarsh
Chairman Feoffee

The notes on pages 10 to 19 form part of these financial statements.

9

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022

1. ACCOUNTING POLICIES

General information

The Guildhall Feoffment is an unincorporated charity and is governed by a scheme of the Charity Commissioners dated 21 December 1988. The charity registration number is 211060.

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)) issued in October 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice.

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 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 in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2015 which has since been withdrawn.

The Charities collectively constitute as a public benefit entity as defined by FRS 102.

Basis of preparation

The financial statements have been prepared on the historical cost basis, modified to include certain items at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Basis of Consolidation

The financial statements consolidate the accounts of the charities administered by the Feoffees as detailed on page 2.

10

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

Going concern

The financial statements have been prepared on a going concern basis, as the Feoffees believe no material uncertainties exist. The Feoffees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income

All income is included in the Statement of Financial Activities when entitlement has passed to the Charities, it is probable that the economic benefits associated with the transaction will flow to the Charities and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the Statement of Financial Activities to which it relates.

Charitable expenditure comprises those costs incurred by the Charities in the delivery of their activities and services for its beneficiaries. All support costs are attributable to the Charities’ main activity of almshouse provision.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.

11

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

Depreciation

No depreciation is charged on the Freehold and Leasehold Property held for charitable purposes as it is maintained to a high specification. The Feoffees are of the opinion that the depreciation charge and accumulated depreciation would not be material because the asset has a very long useful life.

Depreciation is provided on all other tangible fixed assets, at rates to write off the cost, less estimated residual value, of each asset on a straight line basis over its expected useful life as follows: -

Fixtures & Fittings - 5 years.

Fixed asset investments

Fixed asset investments are included at market value at the balance sheet date. Any gain or loss on revaluation is taken to the Statement of Financial Activities. No depreciation is charged on investment property.

Designated funds

These represent funds designated by the Feoffees for specific purposes. Transfers to and from the general fund are made as the Feoffees direct.

Restricted purpose funds

These represent funds provided for specific purposes that may only be utilised in accordance with terms specified by the Schemes of the Charity Commissioners or the donor.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation

The Feoffment, as a charity, is not liable for assessment to tax on its results and recoverable income tax is accrued within the financial statements.

12

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

2. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Income
From charitable activities:
Residents Contributions
Charitable Rents
From activities to generate funds:
Investment Income
Rent
COIF Shares
Bank Interest
Wayleaves
Sundry Income
Total incoming resources
Expenditure
Cost of raising funds
Investment Property expenditure
Charitable activities
Almshouse provision
Maintenance
Running costs
Staff and support costs
Renovation
Charitable grants and donations
Total expenditure
Net income/(expenditure) before
investment gains
Net (losses)/gains on investments
Net income/(expenditure)
Transfer between funds
Net movement in funds
Fund balances bought forward
Fund balances carried forward		 General
Fund
£
163,911
1,300
19,943
5,670
-
407
728
191,959
4,372
35,700
52,991
69,789
-
-
162,852
29,107
100,760
129,867
(29,107)
100,760
955,669
1,056,429		 Designated
Funds
£
-
-
-
4,102
-
-
-
4,102
-
-
-
-
89,629
-
89,629
(85,527)
82,446
(3,081)
29,107
26,026
3,661,885
3,687,911		 Restricted
Funds
£
34,786
-
-
11,935
26
-
-
46,747
-
15,304
-
20,100
-
5,200
40,604
6,143
65,887
72,030
-
72,030
1,307,335
1,379,365		 2021
Total
£
198,697
1,300
19,943
21,707
26
407
728
242,808
4,372
51,004
52,991
89,889
89,629
5,200
293,085
(50,277)
249,093
198,816
-
198,816
5,924,889
6,123,705		 2020
Total
£
201,433
-
19,500
21,284
244
182
722
243,375
3,092
23,922
48,908
82,651
6,865
5,850
171,288
72,087
117,003
189,090
-
189,090
5,735,799
5,924,889		 2020
Total
£
201,433
-
19,500
21,284
244
182
722

13

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

3. TANGIBLE ASSETS

.
TANGIBLE ASSETS
Freehold Fixtures and
property fittings Total
£ £ £
Cost or valuation
At 1 January 2022 and 31 December 2022 3,700,000 1,734 3,701,734
Depreciation
At 1 January 2022 - 1,734 1,734
Charged during the year - - -
At 31 December 2022
-
1,734		 1,734
Net book value
At 31 December 2022 3,700,000 - 3,700,000
At 31 December 2021
3,700,000
-
3,700,000

The Feoffment has almshouses in College Square, Northgate Street and Southgate Street, Bury St Edmunds which were notionally valued by the Feoffees at 31 December 2012 at £3,000,000. The Kytson Trust has 3 almshouses in Bury Road, Hengrave and Fennell Memorial Homes has property comprising 4 dwellings in St Andrews St. North, Bury St Edmunds notionally valued at 31 December 2012 at £300,000 and £400,000 respectively. The original cost of these properties is not known.

The Feoffment owns other land and property including part of Moyses Hall, the Guildhall, the Guildhall Feoffment School site, Jankyn’s Place and No Man’s Meadows in Bury St Edmunds that are all held for charitable purposes. These are of no significant financial benefit and the special nature of these properties means it is not possible to provide a reliable measure of either cost or market value thereon.

14

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

4. INVESTMENT PROPERTY

Valuation

At 1 January 2022 and 31 December 2022

452,000

The Feoffment holds two domestic properties as Investment properties with values attributed by the Feoffees at 31 December 2022 as follows:

113 Southgate Street, Bury St Edmunds. Valuation £268,000 (Cost in 2001 - £121,722) 9 St Peters Court, Hospital Road, Bury St Edmunds. Valuation £184,000 (Cost – £59,350)

5. INVESTMENTS


INVESTMENTS
Market value at Sales Market value at
1 January 2022 Proceeds Gains/ (losses) 31 December 2022
£ £ £ £
Charities Official
Investment Fund
- Income shares 844,228 - (99,219) 745,009
- Accumulation shares 953,361 (150,000) (85,799) 717,562
1,797,589 (150,000)
(185,018)		 1,462,571

During the year there was a sale of units held by the feoffment with a market value of £150,000. These units were acquired a very long time ago and as such the base cost of these units is not available. The realised gain, shown on the face of the Statement of Financial Activities, is based on the 1999 valuation of the units which is publicly available.

6 DEBTORS

Rents, contributions and deposits receivable
Prepayments		 2022
2021
£
£
3,497
2,511
2,834
2,609
6,331
5,120

15

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

7 CREDITORS

CREDITORS
2022 2021
£ £
Accruals and deferred income 23,632 14,322

Deferred income relates to rental income received in advance. Deferred income of £893 was brought forward and released in the year, with £1,073 being deferred and carried forward into the year ended 31 December 2023.

8 ALMSHOUSES MANAGEMENT AND OTHER SUPPORT COSTS

Staff costs (note 10)
Staff expenses
Insurances
Telephone
Subscriptions
Office expenses
Residents expenses
Independent Examination fees
9 INDEPENDENT EXAMINATION REMUNERATION
Fees payable for the Independent Examination of the
financial statements
10
STAFF COSTS AND FEOFFEES’ REMUNERATION
Salaries
Social security costs
Pension costs		 2022
£
69,788
439
4,093
1,142
528
6,317
8,197
1,800
92,304
2022
£
1,800
2022
£
68,664
-
1,124
69,788		 2021
£
68,289
580
3,891
1,094
924
4,302
9,009
1,800
89,889
2021
£
1,800

2021
£
67,169
165
955
68,289

16

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

No employee received remuneration amounting to more than £60,000 in either year. The key management personnel of the charity comprise the Feoffees. The Feoffees neither received nor waived any remuneration during the year (2021 - £Nil).

The average number of employees during the year was 5 (2021 - 5).

11 FUNDS SUMMARY AND ANALYSIS

(a) Summary
(1) General Fund
(2) Designated Funds
Tangible assets held for
charitable purposes
Cyclical maintenance
Extraordinary maintenance
Almshouse rebuilding
(3) Restricted Funds
Almshouse Residents
Batteley and Sutton Relief in Need
Sir John James (Medical and Surgical)
Guildhall Feoffment Educational
Dr Clopton’s – General Fund
Dr Clopton’s – Endowment Fund
Kytson Trust
Fennell Memorial Homes
Total Funds		 Balance at
01 Jan
2022
£
1,056,429
3,000,000
-
376,816
311,095
3,687,911
109,514
77,015
22,580
23,504
190,248
101,280
370,713
484,511
1,379,365
6,123,705		 Net
changes in
resources
£
12,019
-
-
(112,536)
4,210
(108,326)
(274)
1,679
(2,420)
578
(743)
2,659
(5,787)
12,364
8,056
(88,251)		 Transfers
£
(12,019)
-
-
6,009
6,010
12,019
-
-
-
-
2,659
(2,659)
-
-
-
-		 Investment
Gains /
(losses)
£
(70,385)
-
-
(37,110)
(18,750)
(55,860)
(12,155)
(7,793)
(1,948)
(2,410)
(18,442)
(11,803)
(4,222)
-
(58,773)
(185,018)		 Balance at
31 Dec
2022
£
986,044
3,000,000
-
233,179
302,565
3,535,744
97,085
70,901
18,212
21,672
173,722
89,477
360,704
496,875
1,328,648
5,850,436

17

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

(b) Analysis of Net Assets
(1) General Fund
(2) Designated Funds
Tangible assets held for
charitable purposes
Extraordinary maintenance
Almshouse rebuilding
(3) Restricted Funds
Almshouse Residents
Batteley and Sutton Relief in Need
Sir John James (Medical and Surgical)
Guildhall Feoffment Educational
Dr Clopton’s – General Fund
Dr Clopton’s – Endowment Fund
Kytson Trust
Fennell Memorial Homes
Total Assets		 Charitable
Property
£
-
3,000,000
-
-
3,000,000
-
-
-
-
-
-
300,000
400,000
700,000
3,700,000		 Investment
Property
£
452,000
-
-
-
-
-
-
-
-
-
-
-
-
-
452,000		 Investments
£
637,349
-
229,124
140,788
369,912
91,270
58,512
14,628
18,093
138,478
88,628
45,701
-
455,310
1,462,571		 Net Current
Assets
£
(103,305)
-
4,055
161,777
165,832
5,814
12,390
3,583
3,580
35,244
848
15,003
96,876
173,338
235,865		 Total at 31
Dec 2022
£
986,044
3,000,000
233,179
302,565
3,535,744
97,084
70,902
18,211
21,673
173,722
89,476
360,704
496,876
1,328,648
5,850,436




The nature and purpose of the designated and restricted funds are as follows:

Designated Funds Freehold and leasehold property Extraordinary maintenance

Almshouses rebuilding

Represents the net book value of the charity’s property Funds designated for extraordinary repair or improvement of almshouses

Funds designated for the rebuilding of almshouses

Restricted Funds Almshouse Residents

Batteley and Sutton Relief in Need

Sir John James (Medical and Surgical)

Funds for the benefit of almshouse residents as specified by the Charity Commissioners’ scheme dated 21 December 1988.

Income to be applied for relief in need for the benefit of men resident in Bury St Edmunds who are members of the Church of England.

Income to be applied for the benefit of poor persons who are sick or infirm who reside in the Borough of Bury St Edmunds

18

GUILDHALL FEOFFMENT BURY ST EDMUNDS

Notes forming part of the financial statements for the year ended 31 December 2022 (continued)

Guildhall Feoffment Educational Funds for educational purposes as specified by the Charity
Foundation Commissioners scheme dated 19 March 1985
Dr Clopton’s - general and endowment Funds for the payment of pensions as specified by the Charity
funds Commissioners schemes of 1898, 1912 and 1918.
The Kytson Trust Property and Funds to provide accommodation and support for
persons in need and resident in a specified area of benefit.
Fennell Memorial Homes Property and funds for the provision of accommodation for
persons in reduced circumstances.

The transfers from the general fund relate to further designation of funds for almshouse maintenance and rebuilding in accordance with established policy.

13 RELATED PARTY TRANSACTIONS

Feoffees were reimbursed for expenses during the year of £2,529 (2022 - £Nil). There were no other transactions with Feoffees or related parties.

19

Guildhall Feoffment

General Fund

Statement of Financial Activities

(excluding Designated and Restricted Funds)

Income and Expenditure for the year to 31 December 2022

Income
Residents Contributions
Supporting People
Charitable Rents - No Mans Meadows
Investment Income
Rent
COIF Shares
Bank interest
Wayleaves
Sundry Income
Expenditure
Investment Property expenditure
Fundraising Costs
Charitable Expenditure
Almshouse maintenance
Almshouse running costs
Management and other costs
Net Incoming Resources
before transfers
Net Gains / Losses (-)
on investments - unrealised
on Investment property
Net movement in funds
Transfers to Designated Funds
Fund balances brought forward
Fund balances carried forward		 2022
163,664.68
-
307.50
20,662.25
5,819.28
-
182.77
1,423.41
192,059.89
3,609.32
-
38,200.03
66,252.82
71,978.22
180,040.39
12,019.50
70,384.58
-
-
58,365.08
-
12,019.50
-
1,056,429.01
986,044.43		 2021
163,911
-
1,300
19,943
5,670
-
407
728
191,959
4,372
-
35,700
52,992
69,789
162,853
29,106
100,760
-
129,866
29,106
-
955,669
1,056,429

21A

Guildhall Feoffment

(excluding Designated and Restricted Funds) Detailed Expenditure for the year ended 31 December 2022

General Fund
Expenditure
Property Investment Expenditure
113 Southgate Street
9 St Peter's Court
Charitable Expenditure
Almshouse maintenance
Routine building works
Heating
Electrical
Almshouse Running costs
Water
Gas
Electricity
Garden maintenance
Management and other costs
Employment costs
Sundry expenses
Insurances
Office expenses
Community Alarm
Telephone
Travel & subsistence
Resident phone contributions
Commemoration lunch & tea
Subscriptions
Independent Examination / Audit Fees
Depreciation of storage shed
less Shared costs - Kytson / Fennell		 Total
2022
1,351.54
2,099.98
3,451.52
30,966.84
2,236.45
4,996.74
38,200.03
4,452.87
25,942.07
30,343.11
5,514.77
66,252.82
69,787.91
4,033.29
4,092.80
2,284.29
3,335.67
1,141.80
439.38
1,330.00
0.00
528.00
1,800.00
0.00
88,773.14
-16,794.92
71,978.22		 Total
2021
1,354
3,018
4,372
17,448
11,862
6,390
35,700
5,085
20,971
22,287
4,648
52,991
68,289
1,430
3,891
2,871
3,184
1,094
580
1,380
-
924
1,800
-
85,443
15,654
-
69,789

21B

Fennell Memorial Homes

Kytson Trust

Statements of Financial Activities

Income and Expenditure for the year ended 31 December 2022

Residents Contributions
Grant and Bequest
Bank interest
Almshouse Maintenance
General maintenance
Garden maintenance
Management and Other costs
Shared Costs - Employment etc.
Residents expenses
Net Incoming Resources
Net Gains / Losses (-)
on investments
Net movement in funds
Fund balances brought forward
Fund balances carried forward
Freehold Property at
carrying value
Investments
Current Assets
Bank balances
Due from Guildhall Feoffment
Current Liabilities
Net Current Assets		 £
13,953.88
423.00
31-
Ye		 3 Ye £
15,644.00
-
143.36
Dec-22
ar to		 £
13,171
459
31-
Ye		 3 Ye £
£
£
12,138
23,488.32
-
-
2
84.45
12,140
23,572.77
1,052.64
90.00
1,142.64
9,597.10
468.63
10,065.73
20,480
11,208.37
8,340
-
12,364.40
7,417
-
923
-
12,364.40
371,636
484,511.77
370,713
496,876.17
300,000
400,000.00
49,923
-
8,740.39
88,135.79
96,876.18
-
20,790
96,876.17
370,713
496,876.17
at 31 December 2022
31-Dec-22
Dec-21
ar to
Year to		 £
1,052.64
90.00
31-
Ye		 3 Ye £
23,488.32
-
84.45
Dec-22
ar to		 £
1,588
86
31-
Y		 3 Y £
22,648
-
1
Dec-21
ear to
1- 1- 1- 1-
15,787.36
21,574.70		 23,572.77
11,208.37		 22,649
11,134
14,376.88 13,630 1,142.64 1,674
7,197.82
-		 6,709
141		 9,597.10
468.63		 8,945
515
7,197.82 6,850 10,065.73 9,460
14,839.62
162.88		 8,656
75,856
5,787.34
-
4,221.95
-		 12,364.40
-		 11,515
-
10,009.29
-
370,713.19		 12,364.40
484,511.77		 11,515
472,996
360,703.90 496,876.17 484,512
400,000
-
84,512
14,696
6,094		 300,000
49,923
20,790
370,713		 8,740.39
88,135.79
15,002.50 20,790 96,876.18 84,512
- - - -
360,703.90 496,876.17 484,512

21C

Guildhall Feoffment

Consolidating Statement of Financial Activities

for the year ended 31 December 2022

Income
Residents Contributions
Supporting People
Charitable Rents
Investment Income
Rent
COIF Shares
Bank Interest
Wayleaves
Sundry Income
Expenditure
Investment Property expenditure
Fundraising Costs
Charitable Expenditure
Almshouse maintenance
Almshouse running costs
Management and other costs
Residents Expenses
Grants
Extraordinary Maintenance
Net Incoming Resources
before transfers
Net Gains / Losses (-)
on investments - realised
on investments - unrealised
on Investment property - unrealis
Net movement in funds
Transfers
Fund balances brought forward
Fund balances carried forward		 General
Fund
163,664.68
0.00
307.50
20,662.25
5,819.28
0.00
182.77
1,423.41
192,059.89
3,609.32
0.00
38,200.03
66,252.82
71,978.22
180,040.39
12,019.50
-70,384.58
e
0.00		 Freehold
Property		 Extraordinary Re-building
Total
Maintenance
Fund
Designated
4,209.84
4,209.84		 Total
Unrestricted
163,664.68
0.00
307.50
20,662.25
10,029.12
0.00
182.77
1,423.41
196,269.73
3,609.32
0.00
38,200.03
66,252.82
71,978.22
112,536.49
292,576.88
-96,307.15
0.00
-126,244.68
0.00
-222,551.83
4,744,340.18
4,521,788.35		 Kytson
Fennell
Residents
Batteley and Sir John
Educational
Dr Clopton
Dr Clopton
Trust
Homes
Fund
Sutton
James
Fund
General FundPerm. Endowment
15,644.00
23,488.32
2,729.15
1,749.61
437.41
541.01
4,140.77
2,650.16
143.36
84.45
59.56
129.23
66.79
36.74
416.16
8.71
15,787.36
23,572.77
2,788.71
1,878.84
504.20
577.75
4,556.93
2,658.87
14,376.88
1,142.64
7,197.82
9,597.10
0.00
468.63
3,062.24
200.00
2,924.00
0.00
5,300.00
21,574.70
11,208.37
3,062.24
200.00
2,924.00
0.00
5,300.00
-5,787.34
12,364.40
-273.53
1,678.84
-2,419.80
577.75
-743.07
2,658.87
-4,221.95
-12,155.19
-7,792.51
-1,948.18
-2,409.56
-18,442.33
-11,803.38
-10,009.29
12,364.40
-12,428.72
-6,113.67
-4,367.98
-1,831.81
-19,185.40
-9,144.51
2,658.87
-2,658.87
370,713.18
484,511.77
109,512.46
77,015.87
22,579.38
23,504.02
190,248.33
101,279.58
360,703.89
496,876.18
97,083.74
70,902.20
18,211.40
21,672.21
173,721.79
89,476.20		 Total
Restricted
39,132.32
12,248.11
945.00
52,325.43
0.00
15,519.52
0.00
16,794.92
3,530.87
8,424.00
44,269.31
8,056.12
-58,773.10
-50,716.98
1,379,364.59
1,328,647.61		 Total
Total
Charity
2021
202,797.00
198,697
0.00
-
307.50
1,300
20,662.25
19,943
22,277.23
21,707
945.00
26
182.77
407
1,423.41
728
4,209.84
4,209.84		 248,595.16
242,808
112,536.49
112,536.49		 3,609.32
4,372
0.00
-
53,719.55
51,004
66,252.82
52,991
88,773.14
85,443
3,530.87
4,446
8,424.00
5,200
112,536.49
89,629
112,536.49
0.00
112,536.49		 336,846.19
293,085
-112,536.49
4,209.84
-108,326.65
0.00
0.00
-37,110.12
-18,749.98
-55,860.10		 -88,251.03
50,277
-
0.00
-
-185,017.78
249,093
0.00
-
-273,268.81
198,816
6,123,704.77
5,924,889
-58,365.08
-12,019.50
1,056,429.01
986,044.43		 3,000,000.00 -149,646.61
-14,540.14
-164,186.75
6,009.75
6,009.75
12,019.50
376,815.63
311,095.53
3,687,911.17
3,000,000.00 233,178.77
302,565.14
3,535,743.92		 5,850,435.96
6,123,705

21D