SWAFFHAM TOWN ESTATE Registered Charity no. 211895 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 6TH APRIL 2024 SWAFFHAM TOWN ESTATE CONTENTS YEAR ENDED 06 APRIL 2024 Legal and administrative information Trustees. report Statement of financial activities ance s eet Notes to financial statements 6-13 Independent examiners report 14-15 SWAFFHAM TOWN ESTATE LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 06 APRIL 2024 Registered Charity no. 211895 Address.. 11 London Street Swaffham Norfolk PE37 7BW Trustees.. S C Fowler- Chairman A Adcock S Matthews R Clarke l Allen S K Fowler P Darby D Tallon J Buckley-stevens Independent Examiner.. Hayhow and Co Chartered Certified Accountants & Business Advisers 19 King street King's Lynn Norfolk PE30 IHB Page I SWAFFHAM TOWN ESTATE TRUSTEES REPORT YEAR ENDED 06 APRIL 2024 The trustees present their annual report and financial statements of the charity for the year ended 6th April 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts ènd comply with the charity's constitution, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with FRS 102. OBJECTIVES The objectives of the charity are.. To relieve poverty in the town of Swaffham by the provision of pensions Maintenance of religion in the town of Sw3ffham Improvement of the amenity of the town of Swaffham In order to meet the objectives of the charity income is to be applied as follows.. 519ths allocated to the pension fund 219ths allocated to the Swaffham Church Fabric account 119th allocated to the Churchwardens 1/9th allocated to the Town improvement fund STRUCTURE, GOVERNANCE AND MANAGEMENT GOVERNING DOCUMENT The charity is governed by its constitution, which was adopted in November 1976. It was registered as charity with the Charity Commission in 1962. APPOINTMENT OF NEW TRUSTEES Nominative trustees shall be appointed by the Town council of Swaffham. Co-operative trustees are appointed by a resolution of the trustees passed at a special meeting. TRUSTEES The charity trustee5 during the year were as follow5.. S C Fowler- Chairman A Adcock S Matthews R Clarke J Allen S K Fowler P Darby D Tallon l Buckley-stevens Page 2 SWAFFHAM TOWN ESTATE TRUSTEES REPORT YEAR ENDED 06 APRIL 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, 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 and Wales reouires the trustees to prepare financial Statements for each financial year which Eive 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. In preparinE 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 unles5 It is inappropriate to presume that the charitable company will continue in business The trustees are responsible for maintaining proper accounting records which 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. This report Wa5 approved by the Trustees onZL4V.L ZAZk....and signed on their behalf SC FOWLER - TRUSTEE.. Page 3 SWAFFHAM TOWN ESTATE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 06 APRIL 2024 Restricted UnrestrlttÈd Total 2024 Total 2023 Fund 2024 Fund 2024 Notes INCOMING RESOURCES Charitable activities 24,711 24,711 27,200 Investments 649 649 116 Total Income 25.360 25,360 27,316 RESOURCES EXPENDED Charitable activities 30,292 30,292 24,043 Governance costs 684 684 612 Total Expenditure 30,976 30.976 24,655 Net income/lexpenditurel 15,6161 15,6161 2,661 Total funds brought forward 57,218 57,218 54,557 Total funds carried forward 51.602 51.602 57,218 The statement of financial activities includes all gains and105ses recognised in the year. All income resources and resources expended derive from continuing activitie5. The notes on pages 6 to 13 form part of these accounts Page 4 SWAFFHAM TOWN ESTATE BALANCE SHEET YEAR ENDED 06 APRIL 2024 2024 2023 FIXED ASSETS CURRENT ASSETS Debtors Cash at bank 12,050 57,544 69,594 13,600 63,885 77,485 CURRENT LIABILITIES Creditors 17,992 17,992 20,267 20,267 NET CURRENT ASSErs 51,602 57,218 NET ASSETS 51,602 57,218 FUNDS OFTHE CHARITY Unrestricted Reserves Restricted Reserves 51,602 57,218 TOTAL FUNDS 51,602 57,218 Approved by the Trustees on.... and signed on their behalf S C FOWLER - TRUSTEE: Page 5 SWAFFHAM TOWN ESTATE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 06 APRIL 2024 l. Principal Accounting Pollcles 1.1 Basis of Preparation These accounts have been prepared under the historical c05t convention with items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. The accounts have been prepared in accordance with.. the Statement of Recommended Practice: AccountinE and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 july 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity a5 defined by FRS 102. 1.2 Change In basis of accounting There has been no change to the accounting policies since last year. 1.3 Changes to previous accounts No change5 have been made to accounts for previous years. 2. Accounting Policies 2.1 Incomlng Resources All income 15 recognised on a receivable basis. No income is shown net of expenditure. 2.2 Fund Accounting Restricted funds are funds which are to used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are char8ed against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Unrestricted funds are available for use at the discretion of the trustees in furtherance of general objective5 of the charity and which have not been designated for other purposes. 2.3 Resources Expended All expenditure is included on èn accruals basi5 and 15 recognised when there is legal or constructive obligations to pay for expenditure. The charity Is not registered for VAT and accordingly expenditure is shown gr055 of irrecoverable VAT. Expen5e5 are apportioned where necessary. Governance costs are those incurred in connection with administration of the charity. Page 6 SWAFFHAM TOWN ESTATE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 06 APRIL 2024 Restricted 2024 Unrestricted Total 2024 Total 2023 2024 3 Incomlng Resources Charitable Activities Rental Income Wayleaves Direct Credit 24,100 611 24,100 611 27.200 Investment5 Interest 649 649 116 Total 25.360 25.360 27,316 Restricted 2024 Unrestricted Total 2024 Total 2023 2024 4 Charitable Attlvities Pensions Land Fees Admin Expenses PCC Contribution Town Council for street furniture Churchwarden Contribution 13,110 1,049 704 5,705 7,430 2,294 13,110 1,049 704 5,705 7,430 2,294 14,205 792 360 5,814 2,872 30.292 30,292 24.043 5 Governance costs Accountancy 684 684 612 Page 7 SWAFFHAM TOWN ESTATE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 06 APRIL 2024 6 Debtor5 2024 2023 Rent 12,050 13,600 12,050 13,600 7 Creditor5 2024 2023 Trade Creditors Accrua15 Churchwardens pcc 1,161 8,993 7,838 2,820 6,698 10,749 17,992 20,267 8 Unrestricted Funds Balance Incoming at 7.4.22 Resources Outgoing Resources Balance at 6.4.23 Transfers General Fund 9 Restricted Funds Balance at 7.4.23 Incoming Resources Outgoing Resources Balance Notes Transfers at 6.4.24 Gr055 Estate Pension Account Town improvement Swaffham Church 12 13 14 1,981 12,628 2,753 7,999 1,981 13,338 7,658 7.999 34,853 22,365 34,143 17,460 15 57.218 25.360 30,976 51,602 Total Funds 57,218 25,360 30,976 51.602 Page 8 SWAFFHAM TOWN ESTATE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 06 APRIL 2024 13 Pensions Account 2024 2023 RECEIPTS Gross Estate: Pension Account Interest Received 12,628 14,358 12.628 14,362 PAYMENTS Accountanry Pensions 228 13,110 204 14,205 13.338 14,409 Net income/lexpenditurel 1710) 147) Total funds brought forward 35,104 35,151 Total funds carried forward 34,394 35,104 Page 11 SWAFFHAM TOWN ESTATE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 06 APRIL 2024 14 Town Improvement Account 2024 2023 RECEIPTS Gross Estate: Town improvement Bank Interest 2,526 227 2,872 41 2,753 2,913 PAYMENTS Accountancy Town Council for street furniture 228 7,430 204 7,658 204 Net income/lexpendlturel 4,905 2,709 Total funds brought forward 22,358 19,649 Total funds carried foThvard 17,453 22,358 Page 12 SWAFFHAM TOWN ESTATE NOTES TO THE FINANCIAL 5TATEMENT5 YEAR ENDED 06 APRIL 2024 15 Swaffham Parish Church 2024 2023 RECEIPTS Gross Estate.. Swaffham Church Fabric account Religious and charitable purposes Bank dep051t interest 5,051 2,526 422 5,743 2,872 71 7,999 8,686 PAYMENTS Parochial Church Council Churchwardens 5,814 2,872 7,999 8,686 Net income/lexpenditurel Total funds brought forward Total funds carried forward Page 13 SWAFFHAM TOWN ESTATE INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF SWAFFHAM TOWN ESTATE YEAR ENDED 06 APRIL 2024 I report on the accounts of the Trust for the year ended 6th April 2024, which are set out on pages 1 to 13. This report 15 made solely to the charity's tru5tee5, a5 a body, in accordance with section 154 of the Charities Act. My independent examinerfs work has been undertaken 50 that I might state to the charity's trustees those matters l am required to state to them in an independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity's members as a body and the charity's trustees as a body for my independent examiner's work, for this report, or for the opinions I have formed. Respective Responsibilities of tru5tee5 and examlner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 20111'the Charities Art'l and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charities Act: to follow the procedures laid down in the general Directions given by the Charity Commission lunder section 14515llbl of the Charities Act,. and to state whether particular matters have come to my attention. Basis of independent examiner'5 report My examination was carried out in accordance with the Eeneral Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also include5 consideration of any LJnu5ual item5 or disclosures in the accounts, and seeking explanations from you as trustee5 concerning ony Such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Page 14 SWAFFHAM TOWN ESTATE INDEPENDENT EXAMINER5 REPORTTO THE TRUSTEES OF SWAFFHAM TOWN ESTATE YEAR ENDED 06 APRIL 2024 Independent examiner's statement In connection with my examination, no matter has come to my attention.. 111 which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Charities Acl,. and to prepare accotJnt5 which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met,. or 121 to which, in my opinion, attention should be drawn in order to enable a proper understandinE of the account5 to be reached. Julie Gladman FCCA Hayhow & Co Chartered Certified Accountant5 19 King Street Klng's Lynn Norfolk PE30 IHB Date: Page 15