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2020-12-31-accounts

Charity Registration No. 214681

JOHN SUGAR’S COAL AND ALMSHOUSE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Dr D Hopkin Cllr L Bambridge Mrs S Twyman Cllr E Nockolds Rev ALing Cllr. Francis Bone

Charity number 214681

Accountants Mapus-Smith & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE

JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

CONTENTS

Page Trustees’ report 1 Accountants’ report 2 Statement of financial activities 3 Balance sheet 4

Notes to the financial statements 5-8

JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and financial statements for the year ended 31 December 2020.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are the provision of Almshouses for six poor widows of not less than 55 years of age and of good character. The policies adopted in furtherance of these objects are providing buildings, facilities and open space and there has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance During the year the charity has continued to provide almshouses to the community and maintained the houses and the area surrounding the property.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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Structure, governance and management
The trustees who served during the year and up to the date of signature of the financial statements were:
Dr D Hopkin
Cllr L Bambridge
Mrs S Twyman
Cllr E Nockolds
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Rev A Ling

Cllr. Francis Bone

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees’ report was approved by the Board of Trustees.

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TrusteeDated: al¥ak!)s .oo l .
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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY FOR THE YEAR ENDED 31 DECEMBER 2020

Respective responsibilities of trustees and examiner

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(2) of the Charities Act 2011 (the 2011 Act), and that an independent examination is needed.

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts present with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any 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.

Independent examiner's statement.

In the course of my examination, no matter has come to my attention.

  1. 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 2011 Act; and to prepare accounts which accord with the accounting records and comply with the account requirements of the 2011 Act have not been met; or

  2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the records to be reached.

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Mapus-Smith [&] [Lemmon] [LLP]
Chartered Accountants
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seaasivartenvevebestetssiafte)) | 48 King Street King's Lynn Norfolk PE30 1HE

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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2020 2020 2020 2019 2019 2019
Notes £ £ £ £ £ £
Income from:
Donations and legacies		 2 132 - 132 129 - 129
Charitable activities 3 29,497 - 29,497 28,725 - 28,725
Total income 29,629 - 29,629 28,854 - 28,854
Expenditure
on:
Charitable activities		 4 24,436 - 24,436 31,887 - 31,887
Netgains/(losses)on
investments e - (610) (610) - 3,524 3,524
Netmovement infunds 5,193 (610) 4,583 (3,033) 3,524 491
Fund balances at 1
January2020 15,335 23,193 38,528 18,359 19,669 38,028
Fund balances at 31
December2020 20,528 22,583 43,111 15,326 23,193 38,519

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

BALANCE SHEET

AS AT 31 DECEMBER 2020

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|||||||| |---|---|---|---|---|---|---| |2020|2019| |Notes|£|£|£|£| |Fixed|assets| |Intangible|assets|8|22,583|23,193| |Current|assets| |Debtors|9|3,567|1,460| |Cash|at bank|and|in|hand|17,523|14,428| |21,090|15,888| |Creditors:|amounts|falling|due|within| |one year|10|(562)|(562)| |Net|current assets|20,528|15,326| |Total|assets|less|current|liabilities|43,111|38,519| |Income funds| |Restricted|funds|22,583|23,193| |Unrestricted|funds|20,528|15,326| |43,111|38,519| |The financial statements were approved by the Trustees on _f=|1d|“ol.|e|

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Trustee

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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

FOR THE YEAR ENDEDENDED 31 DECEMBER 2020 FOR THE YEAR ENDEDENDED 31 DECEMBER 2020
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1 Accounting policies
Charity information
John Sugar’s CoalAndAlmshouse Charity is a charity registered with the Charity Commission in England.
The operational address is83-93 Goodwins Road, Kings Lynn, Norfolk, PE305PE,
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document],
the
Charities Act 2011 and “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 charity is a Public
Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update
Bulletin 1 not to prepare a Statement ofCash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only
tothe extentrequiredto provide a trueand fairview. This departurehas involved followingthe Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations butwhich has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity, Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared underthe historical cost convention, modified to include the
revaluationoffreeholdpropertiesandtoincludeinvestmentpropertiesandcertainfinancialinstrumentsat
fairvalue.The principal accounting policiesadopted are setout below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future. Thus the
trustees continue toadoptthe goingconcem basis ofaccounting in preparing the financial statements.
1.3. Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes
and uses ofthe restricted funds are setout in the notesto thefinancial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charity.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it afterany performance conditions have been
met, the amounts can be measured reliably, and it is probable thatincome willbe received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under GiftAid ordeeds ofcovenant is recognised at the time
ofthe donation.
Legacies are recognised on receipt or otherwise
if the charity has been notified of an impending
distribution, theamount is known, and receipt is expected. Iftheamount is notknown, the legacy istreated
as a contingent asset.
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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.5 impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 2 Donations and legacies

2020 2019
£ £
C.O.1.F Income shares 132 129
3 Charitable activities
Charitable Charitable
Income Income
2020 2019
£ £
Sales within charitable activities 1,358 -
Charges to residents 28,139 28,725
29,497 28,725

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JOHN SUGAR’'S COAL AND ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4 Charitable activities

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|||||||| |---|---|---|---|---|---|---| |Charitable|Charitable| |Expenditure Expenditure| |2020|2019| |3|£| |Heating|gas|5,545|6,109| |Electricity|278|364| |Insurance|932|1,266| |Water|rates|868|1,550| |General|maintenance|4,867|4,599| |TV|licences|and|sundry|expenses|76|53| |Accountancy|276|276| |Commissions|2,629|2,795| |Others|-|349| |Decorating|and|major|repairs|6,665|14,526| |Legal|and|professional|2,300|-| |24,436|31,887| |24,436|31,887|

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5 ‘Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6 Employees

The average monthly number of employees during the year was:

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||||| |---|---|---|---| |2020|2019| |Number|Number| |Total|-|-| |‘Net|gains/(losses)|on|investments| |Restricted|Restricted| |funds|funds| |2020|2019| |£|£| |Revaluation|of investments|(610)|3,524|

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7 ‘Net gains/(losses) on investments

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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

8 Intangible fixed assets
COIF Shares Extraordinary M&G Total
Repairs Fund Securities
£ £ £ £
Cost
At 1 January 2020 4,301 272 18,620 23,193
Revaluation - (18) (592) (610)
At31 December2020 4,301 254 18,028 22,583
Amortisation and impairment
At 1 January 2020and 31 December2020 - - - -
Carrying amount
At31 December2020 4,301 254 18,028 22,583
At 31 December2019 4,301 272 18,620 23,193
9 Debtors
2020 2019
Amounts falling duewithin one year: £ £
Trade debtors 3,567 1,460
10 Creditors: amounts falling due within one year
2020 2019
£ £
Othercreditors 562 562

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