Charity registration number 214681
JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Dr D Hopkin Cllr L Bambridge Mrs S Twyman Rev A Ling Cllr. Francis Bone
Charity number
214681
Independent examiner
Mapus-Smith & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE
JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
CONTENTS
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| Trustees’ report | 1 | |
| Independent examiner's report | é | 2 |
| Statement offinancial activities | 3 | |
| Balance sheet | 4 | |
| Notestothefinancialstatements | 5-8 |
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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their annual report and financial statements for the year ended 31 December 2022.
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 consider 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 have 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.
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
Clir L Bambridge Mrs S Twyman Cllr E Nockolds (Resigned 31 December 2022) Rev A Ling Cllr. Francis Bone
The trustees’ report was approved by the Board of Trustees.
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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY SrES | report to the trustees on my examination of the financial statements of John Sugar's Coal And Almshouse Charity (the charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
| report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
| understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
| have completed my examination. | confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 _ the financial statements do not accord with those records; or 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. /\
Mapus-Smith & Lemmon LLP
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 2022
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2021 | 2021 | 2021 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||
| Donations and | |||||||
| legacies | 2 | 138 | - | 138 | 134 | - | 134 |
| Charitable activities | 3 | 26,378 | - | 26,378 | 29,600 | - | 29,600 |
| Total income | 26,516 | - | 26,516 | 29,734 | - | 29,734 | |
| Expenditure on: | |||||||
| Raising funds | 4 | 2,520 | - | 2,520 | 560 | - | 560 |
| Charitable activities | 5 | 39,391 | - | 39,391 | 27,012 | - | 27,012 |
| Total expenditure | 41,911 | - | 41,911 | 27,572 | - | 27,572 | |
| Net gains/(losses) on | |||||||
| investments | 8 | - | 161 | 161 | - | 2,351 | 2,351 |
| Net movement in funds | (15,395) | 161 | (15,234) | 2,162 | 2,351 | 4,513 | |
| Fund balances at 1 January | |||||||
| 2022 | 22,691 | 24,933 | 47,624 | 20,528 | 22,583 | 43,111 | |
| Fund balances at 31 | |||||||
| December2022 | 7,296 | 25,094 | 32,390 | 22,690 | 24,934 | 47,624 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Oe, | Oe, | Oe, | Oe, | Oe, | Oe, |
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Intangible assets | 10 | 25,095 | 24,934 | ||
| Current assets | |||||
| Debtors | 11 | 2,452 | 1,553 | ||
| Cash at bank and in hand | 5,103 | 21,397 | |||
| 7,555 | 22,950 | ||||
| Creditors: amounts falling due within | |||||
| one year | 12 | (260) | (260) | ||
| Net current assets | 7,295 | 22,690 | |||
| Total assets less current liabilities | 32,390 | 47,624 | |||
| Income funds | |||||
| Restricted funds | 25,094 | 24,934 | |||
| Unrestricted funds | 7,296 | 22,690 | |||
| 32,390 | 47,624 |
The financial statements were approved by the Trustees on Aolte (a2
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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 Accounting policies
Charity information
John Sugar's Coal And Almshouse Charity is a charity registered with the Charity Commission in England. The operational address is 83-93 Goodwins Road, Kings Lynn, Norfolk, PE30 5PE.
- 1.1. Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” ("FRS 102”) and the Charities SORP "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 not to prepare a Statement of Cash Flows.
The financial statements 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 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 but which 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 under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out 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 to adopt the going concern basis of accounting 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 of the restricted funds are set out in the notes to the financial 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 after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be 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 Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated 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 2022
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- 1 Accounting policies
(Continued)
- 1.5 Resources expended
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 are allocated on the portion of the asset's use.
1.6 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
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| C.O.1.F Income shares | 138 | 134 | |
| 3 | Charitable activities | ||
| Charitable | Charitable | ||
| Income | Income | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Charges to residents | 26,378 | 29,600 | |
| 4 | Raising funds | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Investment management | 2,520 | 560 | |
| 2,520 | 560 |
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JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
5 Charitable activities
| Charitable | Charitable | |
|---|---|---|
| Expenditure | Expenditure | |
| 2022 | 2021 | |
| £ | £ | |
| Heating gas | 5,293 | 5,093 |
| Electricity | 696 | 692 |
| Insurance | 1,045 | 1,218 |
| Water rates | 2,454 | 1,181 |
| General maintenance | 3,744 | 4,800 |
| Subscriptions - NationalAssociation ofAlmshouses | 187 | 182 |
| TV licences and sundry expenses | 45 | 55 |
| Accountancy | 306 | 288 |
| Commissions | 2,546 | 2,843 |
| Decorating and major repairs | 23,075 | 10,660 |
| 39,391 | 27,012 | |
| 39,391 | 27,012 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7 Employees
The average monthly number of employees during the year was:
| The average monthly number of employeesemployees during the year was: | ||
|---|---|---|
| 2022 | 2021 | |
| Number | Number | |
| Total | - | - |
| There were no employees whose annual remuneration was more than £60,000. | ||
| Net gains/(losses) on investments | ||
| Restricted | Restricted | |
| funds | funds | |
| 2022 | 2021 | |
| £ | £ | |
| Revaluationofinvestments | 161 | 2,351 |
8 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 2022
9 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
10 Intangible fixed assets
| 10 | Intangible fixed assets | |||||
|---|---|---|---|---|---|---|
| COIF Shares | Extraordinary | M&G | Total | |||
| Repairs Fund | Securities | |||||
| £ | £ | £ | £ | |||
| Cost | ||||||
| At 1 January 2022 | 4,301 | 230 | 20,403 | 24,934 | ||
| Revaluation | - | - | 161 | 161 | ||
| At 31 December 2022 | 4,301 | 230 | 20,564 | 25,095 | ||
| Amortisation and impairment | ||||||
| At 1 January 2022 and 31 December 2022 | - | - | - | - | ||
| Carrying amount | ||||||
| At31December2022 | 4,301 | 230 | 20,564 | 25,095 | ||
| At 31 December 2021 | 4,301 | 230 | 20,403 | 24,934 | ||
| 11 | Debtors | , | ||||
| 2022 | 2021 | |||||
| Amounts falling due within one year: | £ | £ | ||||
| Trade debtors | 1,410 | 1,553 | ||||
| Other debtors | 1,042 | - | ||||
| 2,452 | 1,553 | |||||
| 12 | Creditors: amounts falling due within one year | |||||
| 2022 | 2021 | |||||
| £ | £ | |||||
| Othercreditors | 260 | 260 |
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