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|Charity registration|Charity registration|number:|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|||
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|||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|
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|||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||||||||
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|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||
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|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|
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|||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|
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|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|
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|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|