Charity number: 213077
EPPING & THEYDON GARNON JOINT CHARITIES
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
EPPING & THEYDON GARNON JOINT CHARITIES
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Trustees' Responsibilities Statement | 5 |
| Independent Examiner's Report | 6 - 7 |
| Statement of Financial Activities | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 10 - 17 |
EPPING & THEYDON GARNON JOINT CHARITIES
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Reverend L Batson |
|---|---|
| Mrs J Lorkins | |
| Mr R Clay, Chairman | |
| Mr H Pegrum | |
| Mrs W Webb | |
| Mr D Tetlow | |
| Mr M R Chapman, Clerk to the Trustees | |
| Mr R Brady | |
| Mrs B Scruton | |
| Reverend J Fy | |
| Mr J Barber |
| Charity registered | |
|---|---|
| number | 213077 |
| Principal office | St John's House |
| St Johns Road | |
| Epping | |
| Essex | |
| CM16 5DN |
Page 1
EPPING & THEYDON GARNON JOINT CHARITIES
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2021 to 31 March 2022.
The Charity also trades under the names Epping & Theydon Garnon Education Charity and Epping & Theydon Garnon Relief in Need Charity.
Objectives and activities
a. Policies and objectives
Relief in need and education for people living within the ancient parishes of Epping and Theydon Garnon, Essex and the provision of almshouses.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
Annual grants for education and relief of those in financial need, grants to organisations working in the area of benefit and maintaining the almshouses.
c. Main activities undertaken to further the Charity's purposes for the public benefit
When planning our activities for the year, the trustees have considered the Commission's guidance on public benefit. All activities of theCharity were carried out for the solely charitable purposes as set out in the Charity Commission Scheme.
Page 2
EPPING & THEYDON GARNON JOINT CHARITIES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance
a. Main achievements of the Charity
For the year 1st April 2021 to 31st March 2022
During the year, the Trustees began meeting in person once again, following the COVID pandemic. The Trustees held 4 meetings over the year. The meeting in June took place via zoom, due to the COVID recommendations at the time. The remainder of the meetings took place in person at Epping Hall, St John’s Road, Epping. The meetings took place on the following dates:
Tuesday 29th June 2021 Tuesday 21st September 2021 Tuesday 16th November 2021 Tuesday 1st March 2022
The Accounts for the Charities are healthy and all properties are tenanted, with rent being paid on time.
Grants have been paid out as follows:
From the Education Charity: Funds of just over £14,000 have been paid out this year towards Educational Grants. These include 10 University Grants at £500 per student (an increase from £300 per student the previous year). Grants have been paid towards courses of counselling sessions for 10 children and young teenagers, as well as courses of music therapy and drama therapy for other school-age children and teenagers.
From the Relief in Need Charity: Just under £1,000 was paid to host a Christmas Luncheon for the local elderly, to help alleviate social isolation, particularly following the COVID pandemic. The Christmas luncheon has traditionally been held every year but had to be suspended during the pandemic.
Effort has been made by the Representative of Education to make links with local schools and ensure they are aware of what help is available via the Joint Charities. A Chairman’s Action was introduced in order to meet urgent needs that cannot wait until the next 3 monthly meeting. The Joint Charities now have a website which includes information on how to apply for grants.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Structure, governance and management
a. Constitution
Epping & Theydon Garnon Joint Charities is a registered charity, number 213077, and is constituted under the Charity Commission Scheme dated 28th September 1978
Page 3
EPPING & THEYDON GARNON JOINT CHARITIES TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2022 Structure* governance and management (ContindI b. Methods of appointment or election of Trustees The ex-officio trustees are the vicars of Epping. Eppin9 Upland. TheOn Gamon and Ccopersale. NDminallve tnjslees incfude three members of Epping Town CounrJl. one member of Epping Upland Parfsh Council and one member of Theydon Gamon Partsh Council. Additional trustee5 can be apwinted at the drstrelion of the trustees as Co-OPtab"ve membgrs. Approved by order of the members of the board of Trustees 12 January 2023 and signed on their behal[b. Mr R Clay
EPPING & THEYDON GARNON JOINT CHARITIES STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2022 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and Untled Kingdom Accwnting Standards (United Kingdom Generally Accepted Accounting Prnct1}. The law applirAble to charities in EnglarKI & Wales requires the Trustees to Prepa financial stslements for each financial year which give a true and fair vrew of the Stsle of affairs of the Charity and of its incoming resources and application of resources. including its inwme and expendthre. for Ihal period. In piepartn9 Ihests fin8naal slalemenls, the Trustees are required to.. select suitable accounting poli(ie5 arKI then appty them wn5ls1enu. observe the method5 and principles of the Charities SORP IFRS 102).. make judgments and ac¢ountiTrJ estirnates thal are reasonable 8nd prudent state whether applicable UK A¢nts"ng Standards {FRS 102) have been ft)Ilowed. subject lo any material departures drsclosed and explained in the frnanual stalements- prepare the finanThal staterrts on the going concem ba5 unless rt is inappropriate lo presume that the Charity wll ¢(tinUe in bursS. The Trustees are responsible for keeping adeqLtate accounting records that are sufflent to show and explain the Charitys Iransaclions and disdose with reasonable 8CCtJracy al any time the financtal position ol the Chanty and enable them lo ensure Ihal the financial s(alemenls comply the Charities Act 2011, the Charity (Accoun15 and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for saleguar¢ing the assets of Ihe Charity and hen for taktng reasonable steps for ihe prevention and detedion of fraud and other irregularities. Approved by order of the ffmbers of the tN)ard of Trustees on 12 January 2023 and signed on its behalF by. Mr R Clay
EPPING & THEYDON GARNON JOINT CHARITIES
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent Examiner's Report to the Trustees of Epping & Theydon Garnon Joint Charities ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022.
Responsibilities and Basis of Report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
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EPPING & THEYDON GARNON JOINT CHARITIES INDEPENDENT EXAMINER'S REPORT ICQNTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Independent Examlnerf5 Ststement Your attenlion is drawn to the fact that the Chariiy has prepared ac(x)unls in accordance with Accounting and ReFng by Charittes.- Statemenl of Recommended Practice applicable to cbariues prepadng their acwunts in accordance wth the Financial Ren9 Standard applicable in the UK and Republic of Ireland IFRS 1021 in preferen lo the Accounting and Rewrkn"ng by Charits'es.. Slatement of Rewmmended Praclice issued on 1 Apiil 2005 which is referred to in the extant re9ulations but has b¢en willKlravffl. l undersland that this has been done in order for the acInts lo provide a Irue and fair view in accordance with the Generally Accepted Accounting Practi effeth.ve for reporting periods beginning on or after 1 Janu8ry 2015. I have completed my examination. I confirm thal no mallers have come lo my attention in connection with the e%£mination giving me cause to believe that in any rnatell respecL ac(yJunting records were not kept in respect of the Charity as required by section 130 of the 2011 Actr. or the accounts do not 8ccord th those records: or the accounts do not comply th the applicable requirements concerning the fomi and conlenl of accounts sel out in the Charities IAccounts and Reports) Regulations 2008 other than any requtremenl that the ac(£Junts give a Irue and fairf view whith rs not a matter considered as part of an ¥rpendent examination. I have no concems and have come across no other maltefs in nnectiOn with the examination lo which attenlh)n should be drawn in this repK)rt in order lo en81e a proper urKter5tarKling of the accounts lo be reached. Signed.. Dated: 12101123 P Thain ACCA Haslers Chartered Accountsnts Old Ststion Road Loughlon Essex IG10 4PL
EPPING & THEYDON GARNON JOINT CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Investments 3 Total income Expenditure on: Charitable activities 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 78,971 78,971 34,845 34,845 44,126 2,560,377 44,126 2,604,503 |
Total funds 2022 £ 78,971 78,971 34,845 34,845 44,126 2,560,377 44,126 2,604,503 |
Total funds 2021 £ 85,516 |
|---|---|---|---|
| 85,516 | |||
| 19,519 | |||
| 19,519 | |||
| 65,997 | |||
| 2,494,380 65,997 |
|||
| 2,560,377 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 17 form part of these financial statements.
Page 8
EPPING & THEYDON GARNON JOINT CHARITIES BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note Fixed assets Investment propety 2.350.IJOO 2,350,000 2.350.000 2,350.000 Current assets Investments 10 83.224 171,279 76,054 134.323 Cash 81 bank and in hand 254,$03 210,377 Net current assets 254,503 210.377 Totsl assets less current liabilities 2,604,503 2.560.377 Totsl net assets 2,604,503 2,560,3TT Charity funds Restricted funds Unrestricted funds 2.604,503 2,560.377 Totsl funds 2,604.503 2,560,377 The financial ststements were approved and authoii5ed for issue by the Trustees 12 January 2023 and signed on their behalf by: c<4 Mr R Clay The notes on pages 10 to 17 form part of these financial statements.
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. General information
Epping & Theydon Garnon Joint Charities is an unincorporated charity, with a registration number 213077. The principal office is detailed on page 1 of the financial statements.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
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 the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are presented in pounds sterling, which is the functional currency of the charity.
Epping & Theydon Garnon Joint Charities meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Page 10
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.3 Expenditure (continued)
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.4 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.5 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2.6 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Page 11
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
3. Investment income
| Unrestricted funds 2022 £ Rents received 70,040 Gains on investments 7,170 Deposit account interest 1,761 78,971 |
Total funds 2022 £ 70,040 7,170 1,761 78,971 |
Total funds 2021 £ 70,265 13,497 1,754 |
|---|---|---|
| 85,516 |
4. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2022 £ Management costs 20,515 Grants - Education 13,390 Grants - Relief in need 940 34,845 |
Total 2022 £ 20,515 13,390 940 34,845 |
Total 2021 £ 14,341 4,078 1,100 |
|---|---|---|
| 19,519 |
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EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
5. Analysis of expenditure by activities
| Support costs Education Relief in need Total 2021 Analysis of support costs Staff costs Office expenses Telephone Website Insurance Professional fees Maintenance and repairs Sundries |
Grant funding of activities 2022 £ - 13,390 940 14,330 5,178 |
Support costs 2022 £ 20,515 - - 20,515 14,341 |
Total funds 2022 £ 20,515 13,390 940 34,845 19,519 Total funds 2022 £ 7,818 1,303 222 499 4,213 3,238 2,149 1,073 20,515 |
Total funds 2021 £ 14,341 4,078 1,100 |
|---|---|---|---|---|
| 19,519 | ||||
| Total funds 2021 £ 7,610 867 450 - 3,656 597 1,061 100 |
||||
| 14,341 |
Page 13
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6. Independent examiner's remuneration
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's independent examiner for the independent | ||
| examination of the Charity's annual accounts | 590 | 540 |
7. Staff costs
| 2022 £ Wages and salaries 7,260 Contribution to defined contribution pension schemes 557 7,817 The average number of persons employed by the Charity during the year was as follows: 2022 No. Support 1 |
2021 £ 7,020 590 |
|---|---|
| 7,610 | |
| 2021 No. 1 |
No employee received remuneration amounting to more than £60,000 in either year.
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL) .
Page 14
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
9. Investment property
| Valuation At 1 April 2021 At 31 March 2022 |
Freehold investment property £ 2,350,000 |
|---|---|
| 2,350,000 |
10. Current asset investments
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Unlisted investments | 83,224 | 76,054 |
.
Page 15
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11. Statement of funds
Statement of funds - current year
Unrestricted funds Reserves Statement of funds - prior year Unrestricted funds Reserves |
Balance at 1 April 2021 £ 2,560,377 Balance at 1 April 2020 £ 2,494,380 |
Income £ 78,971 Income £ 85,516 |
Expenditure £ (34,845) Expenditure £ (19,519) |
Balance at 31 March 2022 £ 2,604,503 |
|---|---|---|---|---|
| Balance at 31 March 2021 £ 2,560,377 |
12. Summary of funds
Summary of funds - current year
General funds Summary of funds - prior year General funds |
Balance at 1 April 2021 £ 2,560,377 Balance at 1 April 2020 £ 2,494,380 |
Income £ 78,971 Income £ 85,516 |
Expenditure £ (34,845) Expenditure £ (19,519) |
Balance at 31 March 2022 £ 2,604,503 |
|---|---|---|---|---|
| Balance at 31 March 2021 £ 2,560,377 |
Page 16
EPPING & THEYDON GARNON JOINT CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Investment property 2,350,000 Current assets 254,503 Total 2,604,503 |
Total funds 2022 £ 2,350,000 254,503 |
|---|---|
| 2,604,503 |
Analysis of net assets between funds - prior year
| Investment property Current assets Total |
Unrestricted funds 2021 £ 2,350,000 210,377 2,560,377 |
Total funds 2021 £ 2,350,000 210,377 |
|---|---|---|
| 2,560,377 |
14. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2022.
Page 17