2022-09-30-accounts - Northchapel, Petworth And Tillington Almshouses

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Charity registration	Charity registration	212320
Principal address:		The Estate Office
		Petworth
		West Sussex
		GU28 ODU
Solicitors:		Farrer dt Co
		66Lincoln's Inn Fields
		London
		WC2A 3LH
Independent	Examiner	MrJA Burnett ACA
		Martin and Company	Chartered	Accountants
		25 StThomas Street
		Winchester
		Hampshire
		SO23 9HJ
Bankers:		National Westminster	Bank pic
		5 East Street
		Chichester
		West Sussex
		PO19 1HH
~g Agents:		Savills The Estate Ofiice
		Petworth
		West Sussex
		GU28 ODU

		Notus	Unrmtrictsd Fmuls Uacwee)	U sr sttbtrd Funds ~)		Total 2022	Total 2021
INCOME FROM:
Charitable activities			65,904			65,904	50,431
Investments			4,469			5,396	4,654
TOTAL INCOME			70,373	927		71,300	55,085
EXPENDITURE ON:
Chsrbnble activities		4	56,663			56,663	54,538
TOTAL EXPENDITURE			56,663	0		56,663	54,538
NET INCOME			13,710	927		14,637
(Losses)rgains on investments		10	(4,798)	(1,463)	(4~2)	(10,503)	19,779
Transfer between funds			(20,000)	20,000
NET MOVEMENT	IN FUNDS		(11,088)	19,464	(4,242)	4,134	20,326
RECONCIUATION	OF FUNDS
Fund babnces brought fcrwmd			450,633		165,816	677,029	656,703
FUND BALANCES	CARRIED FORWARD		439,545	80,044	161,574	681,163	677,029

		Notes				2021
						8	4
FIXEDASSETS
Tangible fixed assets
Freehold propmty				428,529		428829
Equipmeat				6,986		10,479
					435,515		439,008
Investments		10			129,320		135,620
					564,835		574,628
Investmeat propeny							44,000
CURRENT ASSETS
Debtors snd prepaymeats				3,027		3,903
Cash at bank				95,895		68263
				98,922
CREDITORS: amounts	fidting due
within one year
Creditom and accruals				26,594		13,765
					72,328		58,401
TOTAL ASSETSLESSLIABILITIES					681,163
ENDOWMENT FUNDS					161,574		165,816
UNRESTRICTED FUNDS
Income Pund					439,545		450,633
Designated Funds:
Repair	Fund			20,535		21,222
-Cyclical Maintenance	Fuad			59,509		39,358
							60,580
					681,163		677,029
The financial statemeats	woe approved by	gm Trustees and	sigocd	on their behalf	by
			p	6 ~QAVdisstR
			PAJenome MBE
Chairman

STATUTORY INFORMATION	STATUTORY INFORMATION
Northcbapel Petworth and TigmHoa Almshomes Chsrby isacharity registered in England and Wales. Tbe charhy's registered number
and registered olfice sddms can be found in the Trmtces' Rcport.
ACCOUNTING POLICIKS
Accountlag coaventioa The financial statements ofthe charity, which is apublic benefit entiiy, have been prepared in~with tbe Statement of
Recommended Practice: Accounting and Reporting by Carities prepsriag gwir accounts in cccoidsam with gm Financial Reporting
Sumdmd applicable in the UK and Republic ofIreland (FRS102)issued ia October 2019and dw Financial Reporting Standmd applicable in the UK and Republic ofbelaud (FRS102)and Sm Charities Act 2011aad UK Generally Accepted Accounting Practice as it applies fiom I"January 2019.The fiaaacisl smtements have been prepared under tbe historical cost convention, as modified by the
revaluation ofinvestmenm
The financial s atements have been prepared togive a 'true and fitir' view and have departed fiom the Clmrities (Accounts sad Reports)
Regulations 2008 only to the wrest required m provide a 'true and grir' view. 11dsdepmture bas involved following Accounting	and
sporting by Charities prepsring their accounts in accordance wiTh the Financial Reporting Standard applicable in the UK and Republic ofIrelaad (FRS102)issued in October 2019rather than tbe Accounting and Reportiag by Chuities: Surtemcsu ofRecommended pmctiin eficctive fiom I"April 2005which bss since bees wigrdrawa.
The trustees consider that there are ao material uncermintics about tbe Charity's abilhy tocontinue asa going concmn.
Income
All income is recognised once the charity has entitlement tothe income, it ispmbable that gm income will be received and can be reliably
measured.
Renud inoome is included in tbe period that it is due, net ofany inecoverable amounm Any rents charged In advance me deferred.
Bank interest is included when receivable.
Dividends are recogaised when the dividend has been declared and notification has bees received ofdw amount due.
Expcaditure
All liabilities me recognised as soon ss tbme isalegal orconstructive obligation committing tbe charity to that expediture and	it is
pmbable that tbe payment will be required and can be reliably measured.
Afi expenditure is accounted foron aa accruals basis aad includes irrecoverable VAT as the charity isnot regbteml forVAT.
Charitable expenses include the costs involved in the running and maintenance ofthe properties.
Support ccels include those costs associated with tbc constitutional and statutnry mquirements oftbe charity.
Tangible thed assets
Fixed assets whose original cost was more than f350have been capitalised and depreciated over the fofiowing periods:
Fixtures and equipment - 25%on astraight line basis

Freehold pmperty
The almshouses are historic buildings snd as well as being the functioaal pmpmties ofthe charity (being used to provide reduced				cost
acoommodation wiYs the charitable deed) arc also classed as historical buildings and hence berimge assets. Due to the uaiqueness				ofthe
buildings avalustioa ia respect ofthe original properties isvery dilhcult to	amibute and as such the original values	ofthe assets		have
been excluded &om the balance sheet on tbe basis that reliable cost information isact available and conventional valuation			approaches
lack sutBcieat mtbrbitity.
The value ofthe buildings included in the accounts represents impmvemeats	undertaken tothe buildings since IT September 1979.				Since
duse costs me signigcantly lower thea the buildings' likely value, and as gm buildmgs are kept in good repair, the Trustees			believe that it is
not apppriate to preciate tbe propmties.
Fixed asset lavestmcats
investmeats are valued at midmarket value at tbe balance sheet date. Any	gams sad losses are shown as movement	in tbe	Statement		of
Financial Activities.
Invcstmeat property
Investment properties for which gm value csn be measured reliably without	undue costora(fort are measmed at gdr value		at each
reporting date with changes in gur value recognised m net gainsdosses on investmmus in gm Statement ofFinancial		Activities.
Debtors
Trade debtors are recorded sttheir settlement amount. repayments arc valued atdm prepaid amount atthe Balance		Sheet	date.
Cash at Bank aad In Hand
Cash st bank and in hand includes cash aad short tenn highly liquid investmrsus with short manuity ofthree months		or less Som		the date
ofacquisition oropening oftbe deposit or similar account.
Creditors
Trade ciedkom and other creditors are recognised when tbe charity has a preseat obligation resulting gom psst events and can be
measured or estimated reliably. Creditom are recognised at gmir settlement	amounts.
Tsxstloa
The charity isexempt Rom tax on its charitable activities.
Feeds
Unrestricted funds are funds gmt can be med in accordance with the charitable objects at the discretion ofthe tmstees.
Designated fimds are those funds that the tmstom have set aside for cycgcsl	maintenance and extra-ordinmy repairs.
Endowment funds are those fimds which are to be beld as capital in tbc form ofinvesnnent property and mvestments		snd cannot		be spent.
The income genmatcd Som the invcsunmts istobe used forthe charimble	purpose but has no restriction on its use.

					Unrestricted	Unrmntcted	Eadswmcat	Total	Total
					fends	funds	funds	2022	2021
					(income) f	(desigaated)
Dividends					4,022	776		4,798	4305
Interest					3	151		154	5
					4,025	927	0	4,952	4410
							0	444	444
Total					4,469		0	5,396	4,654
All invcsbneat		income in 2022 wes unrestricted
COST OF	CHARITABLE ACTIVITIES
					Direct	Support	Total		Total
					Costs	costs	2022		2021
					(see aote 5)	(scenote 6)
					f.	8
					49,672	6,991	56,663		54,538
DIRECfCOSTS
				Unrcstrictcd	Uarestrietcd	Eadswmeat	Toial		Total
				Fends	Funds	Funds	2022		2021
				(lacomc) f	(Dcsigaated) 8	f
Repairs and	mainemuun			14,077			14,077		18,783
Depreciation		ofequipment		3,493			3,493		3,492
Management		fees		5,398			5,398		3300
Warden's Itgsrdenw's			salaries	6,157			6,157		5,278
Council tss	and water rates			1,060			1,060		2,744
Electrichy				4,383			4,383		2,617
Gss				12,113			12,113		6vAI
Insurance				2,631			2,631		2,595
Gwden maintenance				360			360		1~0
				49,672	0	0	49,672		46,170
SUPPORT	COSTS			Unrestricted	Ua csavctcd	Eadelvalcat	Total		Total
				Faads	Feeds	Feeds	2022		2021
				(lacome)	(Designated)
				8	8		8		8
Administration		charge		3,360			3360		3,120
Telephone				141			141		143
Sundries				2,073			2,073		3.373
Almshouses	Associadon			187			187		182
				5,761			5,761		6,818
G~overnanc	ftgbt
Independent	examiner's		fee	1,230			1330		1,550
				6,991	0	0			8,368

		Frmhotd	Equtpmcat	Total	Total
		property		2022	2021
			8		8
Cost as at	1/10/2021	428,529	25,708	454337	440~
Additions	during year:	0	0	0	13,971
Cost as at	30/9/2022	428,529		454337	454237
Depreciatioa as at 1/10/2021			15~9	15,229	11,737
Depreciation Charge forthe Year			3,493	3,493	3,492
			18,722	18,722	15,229
Net book	value at 30/9/2022	428,529	6,986	435,515	439,008
Net book	value at 30/9/2021	428,529	10,479	439,008	428,529

INVESTMENTS				2022	2021
				6	6
Carrying value (market value)	at 1October 2021			135,620	112,182
Add: Additions to investments	atcost aad income		reiavcsted	4303	3,659
Less: Disposals st mrrying value				0	0
Add/(less): Net gun/toss on evaluation				(10,503)	19,779
Canying value (market value)	at30	September 2022		129,320	135,620
Comprising;
The BLKCharities UK Equity	Fund	accumulation	shares	16365	17,606
The BLKCharities UK Equity	Fund	income shares		16,316	18,123
The M/kG Charity Multi-Asset	Fund Income shares			485	520
The Md'cG Charity Multi-Asset	Fund Accumulation		shares	96,154	99,371
				129,320	135,620
INVESTMENT PROPERTIES
					2021
Common Field, Pulborougb					44,000
Common Field, Pulborough, comprising 4.411acnu ofUnsane land was revalued by the Surveyms, at the date oftransition. The valuafioa was cerned out by Simoa Knight and				Managing Agents, SaviUs Cbanered ndertakm in~with RICS
Statemenu ofAsset Valuations	and	Guidance Notes. Tbe trustees considered gm value at 30th September 2022 to be the same.
DEBTORS					2021
Rent remivabte				0	0
Prepayments				3,027	3,903
				3,027	3,903
CREDITORS: amounts fafiiag dae wiihin one			year		2021
					g
Trade creditors				7,676	3,407
Rent received/biUed In advance				2,54$
Other creditors and accruals				16,370	9,956
					13,765

MOVEMENT IN FUNDS	MOVEMENT IN FUNDS		Net	Trsosfcrs	Trsosfcrs
		At 1.10.21	raevclacat			At30.922
Restricted funds
Endowment fund		165,816	(4242)		0	161,574
Unrestrktcd funds
Income fund		450,633	8,912	(20,000)		439,545
Umi&0&RUi&&d& -Extrsordimuy repair	fund	21~	(687)			20,535
-Cyclical maintenance	fund	39,358	151	20,000		59,509
		511213	8,376			519,589
Total tbads		677,029	4,134			681,163
			Iacomiag	Resources		Mevcment
			resources	expended		ia funds
			f
Restricted feeds
Endowment fund			(4~2.00)			(4,242.00)
Unmstricted funds
Income fund			65,575.00	56,663.00		8,912.00
DguigLscd~fun
-Extrsominary repair	fund		(687.00)			(687.00)
-Cyclical me'nteaance	fimd		151.00			151.00
			65,039.00	56,663.00		8,376.00
Total feeds			60,797.00	56,663.00		4,134.00
ANALYSIS OFNET ASSETSREToyKEN FUNDS
	Taagibk	Iavesaneat	Iavestmcats	Carrent	asseen	Total
	gxed assets f,	property 8	8	Ikblgges f
Restricted fends
Endowment fund	67,041		50,533			161,574
Unrestricted funds
Income fund	368,474		58,252		12,&19	439,545
Rgd E~m
-Extraordinary repair	fund		20,535			20,535
-Cyclical maintenance	ftmd		0		59,509	59,509
Total fends	435515		129320		72328	681 163