Charity registraiion number.. 211528 Folkestone Municipal Charity Annual R¢wJrt and Financial Ststemenls for ihe Year Ended 31 March 20?5 Beresfords Ch¥rtered Certified A¢countants 1-2 RhtMIiuTn Point Spindle C105e Ha7ne Folkesione K¢nt CT18 7TQ
Folkestone Municipal Charity Contents (eolltinued) Reference and Adminisiralive Deiails Trnsiees. Report 2103 Independent Examinerfs Report Statement of Financial Activilies Balance Sheet Notes to th¢ Fin¥n¢ial Sthi¢menlS 7t013
Folkestone Municipal Charity Referen¢¢ 2nd Administrative Details Truste Mts S Thorne Mr RC West Mr R C P Medlico Mrs M Hunler Mrs R Braid Mr J Bonomy Cllr N Kttn Cllr L MCGI Cllr B Walker Cllr A Lockwood Mr P Wesi Charity Re8lstrAtlon Number 211528 Prln¢ip81 Romney House Cliff Road H)qh¢ Kent CT215XA Ind¢p¢ndeDt Examiner Beresfords charter Cenified Accounthnts 1-2 Rhodium Point Spindle C105e Hawkinge Folkesione Keni CT18 7TQ Page I
Folkestone Municipal Charit), Trustees, Report The trust¢¢s present the annual rep)rt iogether wilh ihe financial ststemenls of the ¢harity for the year ended 31 Mar¢h ?025. Objectives and activities Objecls oud aim5 The objeciive of the chariiy is io provide relief in need to residents of Folkesll)ne by provision of grants to individuals or organisaiions and by pa>'meni of monthly awards io needy r¢sid¢nts. OlJJeLilves. slraiegles and aclii'illes The chariiy receives referrals from social services Jnd oiher sour¢es. All cases are refetTed io the committee of Irustee8 or, in cases of emergency, 10 Such M¢Mr5 of ihe executive comminee as are available. Relief in need. when sanctioned by the Irustee$. is made available wherever possible by pa)Trent direc¢ 10 suppliers of goods and 5ervice5. Publlc beneJ71 The irust¢e5 confimi thai they have complied with the requiremenls of sedion 17 of the Chariiies Aci 201110 have due regard io ihe public benefii guidance published by the Charity Commission for England and Wales. Grnni moAlnRpollcles The trustees as a &iTOUP meel in order lo decide upon grani applicaiions. Granls are made if ih¢ trusiees feel the application has merit and 15 in line wilh ihe charity's consiiiuiional aims. FiD8n¢ial r¢vi¢w Pollcy re.ierve.T The ITU5tee5 maintain a reserve of £33.0(KJ in order to fund any unanticipaied expendiiure or lo cover lh¢ nonnal expenditUT¢ of ¢h¢ charity should ihcre be a change in ihe incomin8 resource5. Any other unr¢5tricted funds are lo bc spent in ac¢ordanc¢ with the charity's consiiiuiion. Imvesimenipollcy ond objeeflves 'rhe irusiee5 have the wwer io invest in such 055e15 ¥5 they see fil. Due io the preseni market condilions, the trustees consider Iheir curreni investments to be lh¢ most appropriate in order io generate income to meet their aniicipaied expenditure. oing ¢oTh¢ern After makin¥ appropriate enquiries. the tNstees have a resonable expectation Ihat ihe chariiy ha5 adequate resources to coniinue in operdlional existence for the for¢5eeabl¢ future. For this reason they conlinue to adopt the going concem basis in preparing th¢ financial statements. The Irustees have considered the circumstances of Covid 19 and do noi regard ihem having an impact on the Charity's ability io coniinue as a going concern. Structyre* governwn¢¢ ¥nd Management Naitsre olgovernln£ d()cumeni The charity is conlrolled by its governing diKumenl. a deed oftru5t. and consiiiuies an unincorporated charity. It was regisiered wilh the Charity Commission with effect from 29ih June 1984 under ihe charity number 211528. Page 2
Folkeslone Municipal Charity Trnstees. Report (eonlinued) Recrmlimenl undoppolnlmentoflrystees Trusiees are appointed when a vacancy occur5 by Fwsonal rttommendaiion from existing tTUStee5 and elected al an annual general meeting. St8t¢ment of Trust¢e5' Responsibililies The irusiees are responsible for preparing ihe trust¢¢s' r¢rrfJrt and th¢ financial slal¢mcnt5 in accordan¢¢ with the United Kingdom Accounting Stsndards (Uniied Kingdom Gen¢rnlly A¢c¢pted Accounting Prydcticel and applicable law and regulations. The law applicable io chariiies requires the irusitts io prepare financial siaiements for each financial year which giv¢ a true and fair view of ihe sle of alTairs of the charity and of ihe incomiThg resourceg and applicaiion of r¢sour¢¢s of ¢h¢ charity for thai period. In prcparing Ihese financial staleMen the ISiS are required 10.. select suiiable accounting polici¢5 ih¢n apply thern consistently: observe the meihods and principles in the Chariiies SORP: mak¢ judgements and estirnales ihal are reasonable and prudenl.. State whether applicable accouniing siandards have been followed. subject io any maierial departures disclosed and explained in the financial siaiements: and prepare the financial 51atem¢nts on ihe goin8 concern basis unless it is inappropriate to presume that ihe charity will continue in business. The tNslees are responsible for keeping proper a¢couniin8 records ihai disclose with reasonable accuracy ai any time the financial position of ihe charity and enable them io ensure ihai ihe financial siaieinenis comply wilh Ihe Charities Act 2011, the Chariiies (Accounis and Repons} Regvlaiions 2008. and ihe provisions of the constilulion. The truste¢s are also responsible for f¢guYTdIDg the assets of the charity and hence for taking reasonable steps for the prevenlion gnd dettrtion of fraud and other irregularities. The iru5tee5 are responsible for Ihe maintenance and iniegriiy of the corporaie and financial infomiation included on the charitable company's websiie. Legislaiion governing the preparation and dissemination of financial st4tements may differ from legislation in h¢T jurisdiciions. The annual report was approved by the trustees of the charity on .Il. . . Qr. and signed on lis behalf by.. Page 3
Folkestone Municipal Charity Independent Examiner's Report to the truslees of Folkestone Munieipal Charity I report to ihe irustees on my examination of the aOunts of Folke510ne Municipal Charity for the year ended 31 March 2025. Responsibilities and S15 of T¢por¢ A5 the Lhariiy irusiees of Folkesione Municipal Charity you are responsible for ihe preparaiion ofthe accounts in accordance with the requirements of thc Charities Act 2011 I'th¢ Acl'l. I report in respeci of my examination of ihe Folkeslone Municipal Charity's accounts carried out under section 145 of the ?0 I l Aci and in Ca'Ing oui m). examinaiion I have followed all the applicable Direciions given by the Charity Cvminission under seciion 14515Mb) of the Ac¢. Independent examiner's staternenl I hav¢ conipleied my ¢xamin3lion. I confim) thai no marIal matters have come to my attention in ¢onneciion ith the examination giving me cause 10 believe ihai in any material $¢1.. l. ac¢ouniin8 records were not kepl in respect of Folkw¢one Muthi¢ipal Charity as required by section 130 of the Aci: or 2. the accounts do not accord with ihose Yttords: or 3. ¢he a¢¢ounis do noi compl). wilh the accouniing requirements conc¢rning th¢ fom and content ofaccounis set oul in ihe Chariiies IAccounis and Reponsl Regulaiions ?Th)8 other than any requirement ihai ihe a¢cvynts 8ive a 'irue and fair view. which is not a matter consid¢r¢d as part of an independeni examination. I have no concerns and have ¢om¢ across no other maffers in conneciion wilh ihe examination to which alleniion should be drdwn in ihis report in ord¢r io enoble a proper UndersndIng of the accounts to be reached. Mr Daniel Payne FCCA Beresfords Chartered Certified Accounlants 1-2 Rhodium Point Spindle Close Hawkinb>e Folkeslone Kent CT187TQ Date.. Page 4
Folkestone Municipal Charity Statement of Financial Activities for the Year Ended 31 March 2025 Unrestricled funds Total 2025 Note Income and Endowrnettts from: t)onations and legacies Invesimeni income 60,0(K> 136.877 60.000 136,877 Total income 196.877 196,877 Expenditure OTh: Chariiable activities (149,038) (149,038) Total expendiiure Gainsl(losses) on investment assets 1149.0381 179.985) 1149.038) 179,9851 10 Nei expenditure Net movement in funds 13? 146) 132,1461 132.1461 132.1461 RecoDcili8¢ion of fynd$ Total funds brou8hi forward 4.604.130 4.604.130 Total funds carried forward 13 4,-$71.984 Unrtsiricitd funds 4.571.984 Total 2024 Nole Incorne And Endowrntntg frorn: Inv¢sth)eni incom¢ 134.813 134.813 Total income 134,813 134,813 F.xpeDditure on: Charitable ac(ivi(ies (160,?89} (160,289) Total expenditure Gainslllosses) on investment ets 1160.2891 259.484 1160.289} 2$9.484 10 Net incom¢ 234.008 234.008 Net movement in fund$ 234,008 234,008 Rteoncili#tion of funds Total funds brought forward 4.370.121 4.370.121 Total funds caThied forward 13 4,604,129 4.604,129 All of the charity's activities derive from continuing opernlions during the alx)ve two period5. The funds breakdown for 2024 is shown in note 13. The notes on pages 7 10 13 forni an iniegral pan of ihese financial smements. Page 5
Folke5tone Muni¢ipal Charity (Registration number: 211528) B21ance Sheet as at 31 March 2025 2025 21124 Note Fixed assets Invesllnents 10 4.389,395 4.469,380 Current assets Debtors Cash ai bank and in hand 32,180 15? 178 31,570 104,821 184.358 136,391 Creditors: Amounts f811ing due within one year 12 11,769) (1.642) Net current assets 182.589 134.749 Net ¥sstt$ 4,571.984 4,604,129 Funds of the chAri¢y: Unrestrlcted Ineome funds Unre51ric¢ed funds 4.571,984 4,604.129 To¢#1 funds 13 4,571.984 4,604,129 'rhe fi Ancial 51atements on pages 5 10 13 were approved by the irusitts, and auihorised for issue on rATr fefclL Th¢ notes on pages 7 to 13 form an integAI part of these financial statements. Page 6
Folke5tone Municipal Charity Noles to the Financial Statements for the Year Ended 31 March 2025 l Aecoynling policies Statement of complianct The linancial statements have prepared in accordance wilh ihe second edilion of the Chariti¢s Stalement of Recommended Practice i55u¢d tn Oaober ?019. the Financial Reporting Standard applicabl¢ in the United Kingdom and Republic of IrelaTKI {FRS 10?} and the Charities Aci 2011. B851$ of prepAration Folkesione Municipal Charity meets ihe definition of a public benefit eniiry under FRS 102. The ttccotjnis (financial siaiemenisl have tffi prepared under the historical cost conweniion wilh items recognised at cosi or Iransaclion value unless otherwise siaied in th¢ r¢levanl notrf5} lo these accounts. Goln8 eoneern Thc Irusices consider that there are no maierial uncertainties aboyt the ¢harity's ability to continue as a going concern. Income and endowmenis Voluniar). incom¢ including donations. gifts. legacie5 and grdnis thai provide core fitnding or are of a genernl nature is reco¥sed when the ¢h#rity has entiilement lo the income. ii is probable ihat the in¢oim¢ will be received and ihe amount can be measured wilh sufficient reliability. Dvnqilons qnd lexacl¢s Donations and 1¢8a¢ies are re¢ognised on a receivable basbs when receipi is probable and ihe amount can be reliably measured. liiveslnieni Income Intere51 orh funds held on dewsit 15 included when receivable and the amount can be mea511red reliably by the charity. this is normally ypon notification of the inieresi paid or pa}'able by the bank.Dividends are recogni5¢d once the dividend has been d¢¢lared Jnd nolificalion has bttn received of ihe dividend due. ExpedItre All ¢xpenditUTe is recognised once there is a legal or construciive obligaiion to ihat ¢xpendature. it is probable settlement is requir¢d and ihe amouni can be Measured reliably. All cosis art allocaied t(Tr lh¢ applicable expenditure headin8 that aggr¢gat¢ similar cost5 to ihal caiegory. Where costs cannot be directly altribuled to particular heading5 they have been allocated on a basis consisieni wilh ihe use of resources. with central staff costs allocated on the basis of time spent. and depreciation charge5 allocaied on ihe portion of the asset's use. her support cosis are allocated based on the Spread of staff costs. Chdtliable &cilvliles Chariiable expendiiure comprises those costs incurred by th¢ charity in th¢ delivery of its activities and services ror its beneficiaries. li includes boih costs thai can be allocated directly to such a¢tivities and those cosis of an indIr1 natur¢ n¢¢e55ary to support ihem. Page 7
Folkestone Municipal Charity Notes to the Financial Stalcmenls for the Year Ended 31 March 2025 (continued) Stspport eosts Support costs include central functions and have tten allocat to activity cosi caiegories on a basis con5iSt¢nt wilh th¢ u5¢ of resources. for example. alloC1n8 proFwty costs by fl( areas. or per capit4 siaff cosls by the timc 5penl and other ¢osis by their usage. Governance costs These include th¢ costs attribuiable io the charity's compliance with constitutional and sthtuiory requirement5, including audit, 51rat¢gic maement and irusrees meelings and r¢irnbursed expenses. Taxaiion The ¢harity is considered io pass the tesis sel out in Paragraph I Schedule 6 of the Finance Act 2010 and th¢refor¢ it meets the definiiion of a chariiable companv for UK corporation lax purposes. Accordingl).. th¢ harity 15 POt¢ntially exempi from iaxaiion in respect of income or capital 8ains received within ca¢e&iori¢5 covered by Chapter 3 Part I l of the CoTpordlion 'fax Aci 2010 or Seclion ?56 of ihe Taxation of Charg¢¢ible Gains A¢1 1992. to the exieni ihai such income or gains are applied exclusively io charitable purposes. Invtstrnenl prop¢r¢ies Invesimeni property is carried at fair value. derived from ihe curreni markei price5 for comparable real esiaie deienmined annually by exlernal valu¢r5. The valuers use observable prices, adjusted if necessary for any dilyerence in the naiure, location or condilion of the specific asset. Changes in fair value ¥4re re¢o8nis¢d in profit or loss. Fixcd a55et iDv¢$lmtrtls Fixed assei investments, other ihan progrdmme related invesimenis. are included at myrkei value at the balance shee( dale. Realised gains and 105se5 on investments are cal¢ulaied as ihe diiference between sales proceeds and Iheir market value ai the 51art of the year. or their subsequeni cost, and are char¥ed or credited to the Statement of F inancial Activities in ihe period of dispo1. Unrealised gains and 105se5 r¢pr¢5¢nt the movemeni in markd values during the yeor and are credited or charged io the Stalem¢n¢ of Financial Activiiies based on the maTkel value 41 th¢ y¢ar end. C#sh and e*sh equivaltnts Cash and cash equivalent5 comprise ¢ash on hand and call deposi and other short-ierni hig>hly liquid invesiments that ar¢ r¢adily convertible io a known amouni of cash and are subjeci io an insignificani risk of change in value. Fund structure Unrestricted income funds are general funds ihal are available for use the trustees discreiion in furtherance of the objec¢iYes of the charity- Pag¢ 8
Folkeslone Municipal Charity Notes to the Financial StAtemeDt$ for the Year Ended 31 Mareh 2025 (continued) 2 Ineorne from donations and legcies UTrrestrieted funds Gent ral Total 2025 Donaiions and lega¢ies: Legacies 60.1) 60.000 60.0(K) 60.000 3 Inweslmtnt income Unrestricted funds GeDernl Tot1 2025 Tot#1 2024 Income from dividends.. Dividends receivable from other listed inve5mienis Inieresi receivable artd similar income: Inieresi receivabl¢ on bank deposits her inieresi re¢¢iv4ble Income from reni$ 120.478 120,478 117,510 2.770 9.579 4.050 2.770 9,$79 4.050 2.543 10.710 4.050 136.877 136.877 134,813 4 Exp¢ndi¢ur¢ on eharitxble ictlvltles Unreslricttd Total 2024 Genernl 2025 Nott Managem¢nl Staff costs Grants and donations Monthly grant5 Relief in need Governance cos¢s 1.030 4.8 13,418 52.140 76.008 1.642 1.030 4.800 13.418 969 4.550 22.850 54,005 76.273 1,642 76.008 1,642 149,038 149,038 160.289 Page 9
Folkeslone Muni¢ipg1 Charity Notes lo the Financial Statements for the Year Ended 31 March 2025 (continued) 5 Analysis of 8ovtrn4nct and support eosts GoverDan¢e ¢osts Unrestrleled funds Ceneral Total Z025 Total 2024 Independent examiner fees Examination of the financial stalements l.fA2 1.642 1.642 1.642 1.642 1.642 6 Trustees remunergllon and expenses Durin¥ the >'car the charity made ihe following transaciions with tTU51ees- Mrs M Hunter Mrs M Ilunicr received remuneration or£3J {2024: £3WI gnd £12912024.. £208) of expenses wer¢ reimbursed io MTS M Hunler during the year. Mrs M 14unler. lh¢ welfare Ol¢er. was reimbursed for Ve1 expenses during the year. Mrs Huni¢r was also paid an honorarium during the year. No Irusie¢s have received any oiher ben¢fits from the charity during the year. 7 Staff costs The aggregale payroll cos15 were Os follows: 2025 2024 St8ff costs durlng the year were: Honoraria 4.8 4,550 No employee re1ved emoluments of more than £60.000 during the year Honoraria repre5¢nts £4,51M) (2024 . £4.250) for ihe Secretary's fet and £3 {2024- £3CK)I paid io a trnstee. 8 Independent examiner's rernuner*tiDrt 2025 2024 Examination of the financial statements 1.642 1,642 Poge 10
Folke5tone Municipal Charity Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 9 Taxation The charity is a regisiered charity and is therefore exempt from iaxation. 10 Fixed 8ts¢1 inv¢stmenls 2025 2024 Investment properties Other inwestmenis 168.500 4.220.895 168,5(K) 4.300,880 4.389.395 4.469.380 Investment properties Inve5trntnt properties Cost or V¥lu4lion Ai l April 2024 168.500 Provi$ion Ai 31 March 2025 Net book value Ai 31 March 2025 168.5(M Al 31 March 2024 There has been no valuation of investhieni property by an independent valuer. Other investments Listed invesfmtnts Total Cos( or Valuation Ai l April 2024 Revaluation 4.300.880 179.985) 4.300.880 179,985) At 31 March 2025 4.220.895 4.220.895 Ntt book value At 31 March 2025 4.220.895 4,220.895 At 31 March 2024 4,300.880 4,300.880 Pagell
Folkestone Municipal Charity Trlotcs to the Fingn¢ial Statements for the Year Ended 31 March 2025 (continued) I l Debtors 2025 2024 Accrued income 32,180 31.570 12 Creilitors: amounts f•lling du¢ within one year 2025 2024 Accnjals 1.769 1.642 13 Funds Oiher recoE1115ed gains/(10ssu) BalAnce #t 31 March 2025 Balanee #t I April 2024 Ineomin8 resothrees Resourees expended Unr¢strlcted funds General 4,604.130 196.877 {149.038 {79.985 4.571.984 ()thcr r¢cognised g8insI{1055e51 B¥l8nee 8t 31 March 2024 Bal4nc¢ *t I April 2023 In¢orning r¢sour¢e5 Re50urr¢s exp¢nd¢d Unre5trlcted funds General 4,370,121 134,813 1160.289) 159.484 4,604.129 14 Analysis of ne¢ a5sel$ beiwcen funds Unrestri¢ted runds Gentral Tolal funds at 31 March 21125 Fixed asset inve5tment5 Current assets Current liabililies 4.389.395 184,358 (1.7691 4,389.395 184.358 (1.769) Total nel assets 4.571.984 4,571.984 Page 12
Folkestone Municipal Charity Note$ lo the Finaneial Stat¢meDt$ for the Year Ended 31 March 2025 {¢ontinued) Unrestricted funds General Total fund5 41 31 March 2024 Fixed asset investmenls Cuent assecs cuen1 liabilities 4.469.380 136,391 11.6421 4,469.380 136.391 11,642) Total nei assets 4.604.129 4,604.129 IS Rel4ted p8r¢y tT4115O¢ttons During the year the chariry made the following relaied pany transaciions.. Cllr B Walker (Cllr A AkutTo-Kelly (previously Cllr B Walker) was a trtsmee of Ihe charity durin8 the year and also the Town Mayor of Folkesione.) During ihe year £8.OLK) (2024- £8.IK)O) was donaied io the Town Mayor of Folkesione's Chrisimas Fund.. Page 13