Mapus.Smith & Lemmon LLP Charlty re9istration number 214681 JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 JOHN SUGAR'S COALAND ALMSHOUSE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION TTUStees Mrs S Twyman Rev A Ling Mrs M Plant D Heneghan M Pope Charlty numb8r (England and Wales) 214681 Independent examiDer MaPuS￿MIl￿ & LemrTh)n LLP 48 King Street King's Lynn Norfolk PE30 1HE JOHN SUGAR'S COALAND ALMSHOUSE CHARITY CONTENTS Page Trustees. report Indèp&ndent Èxaminerf$ report Stalem&nt of financial activfties Balan￿ sheet Notes to th13 flnancial statements JOHN SUGAR'S COALAND ALMSHOUSE CHARITY TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The bust8es prèsent thgir annual report and financial statemenls for the year ended 31 Docember 2024. The accovnts have bèen prepar8d in 8cctsrdarl￿ with the accounting policies set out in llotè 1 to the aCCC>unts and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Stalement of Recommended Praotice applicable to charities pr8paring iheir accounts Ln accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. las amended l(>f accountlng periods commencing frorn 1 January 20161 Obje¢tives and activtties The charitys obje¢ls are the provision ol Almshouses for six poor widows of nol less than 55 yeats ol age and of good character. The poli¢ies adopted in lurtherance of these objects a￿ providing buildings, facilities and open Spa￿ 8n¢J there has been no changè in these during the year. The tiustees have paid due regard to guidancè i8su$d by the Charity Commission in deGiding what activities the tharity should undertBke. Achievements and performance During the year the charity has continued to provide almshouses lo the ¢ommunty and maintained the houses and the 8re8 surrounding the prop8rty_ Flnanclal r¢vi*w It is the policy of th8 charity that unrestricted fvnds which have not be8n designated for a specifK use should be mainiained at a level equlvalent to belween three and six month's expenditur8. The truslges consider that reserves at this level will ensure th8t, in the 8vent of a significant drop in funding, th8y will be able to continue the charity's current activiti8s while consideration is given to ways in which additional funds may be raised. This level of reserves has been fflainlained throughout the year. The trustees hav8 assessed the malor risks to which the charity is exposed. and are satisfied that systems are In place to mitlgatè exposure to the major risks. structure, gov8mance and managemènt The tTuslees who seNed during the year and up to the d*e ol signature of the financial ststernents were.. Mrs S Twyman Rev A Ling Cllr. Francis Bone Mrs M Plant D Heneghan M Pop8 (Resigned 15 April 2025) The tnjslees, ￿port was approved by the Board ol Trustees. Trustee Dated-. ..... JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY I report to the trustees on Fny examination of the financial 5tataments of John Sugars Coal And Almshouse Charity Itha charity) ft>r the year ended 31 Dec6mbor 2024. Responslbillties and basis of rèport As the Injstees of the charity you are resptsnsible for the pr8paralion of th& financial statements in a¢cordance with the wuirement5 of the CharitiesAct 2011. I réport in respect of my examination of Ihe eharrly's financial stst&ments carried out under section 145 of the Ch8ri11è5 Aet 2011. In carrying out my examination I have followed thè Directions glven by the Charity Commission under section 145151{bl of the Ch8rilies Act 2011. Independent exarnlner's statemènt Your attention is drawn to the f8Ct that the charity has prepar8d the financial ststements in accordance wrth the lev8nt version of the Statement of Recommendèd Practice applicable to charities preparing their f Inancial slalemènts in accordancè with the Financial Reporting Standard applieable in thg UK and Republic of Ireland IFRS 1021 in preference tc> the Accounting and Reporting by Chariltes.. Slaternenl of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has now been withdra¥¥n. l understand that this has been done in order for the financial ststemenls to provide a true and fair view in aceordance wth UK Generally A¢￿pted Accounting Practice. I have ctsmplèted my examination. I confirm ihat no matters have come to my attention ia connection with the examination giving me cause to beliève that in dny material resp￿1.. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those reoords., or thè financial stateménts do not comply with th6 applicable i8ouirernents con￿MIng the form and contènt ol financial statements set out in the Charities IA¢counls and Reptsrtsl Regulations 2008 other than any requirement th81 the financlal slalements give 8 true and fail view, which is not 8 matter wnsldered as part of an indepèndent examlnation. I hav& no wncerns and havè come across no other mallers in connection with the examination to whi¢h attention should be olrawn in this repcsrt in ordw lo enable a proper understanding of the finanual statements lo be reached. Mapus-smilh & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE Dale.. JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted R•stricted funds funds 2024 2024 Total Unre5trlcted Restrlct8d fund5 funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable adivities Investments 138 30,375 140 32,145 55 140 32,145 55 138 30,375 30.513 30,513 Totsl Income 32,340 32,340 Expenditure on: Chariiable activltles 29.631 29,631 25,118 25,118 25,118 29,631 29,631 Totsl expenditure 25,118 Net gainslllosse51 on inve5lments 1.753 1,753 1.341 28 1,369 1,753 2,635 Net income 8,563 28 8,591 Transfers bE￿een funds 21,719 121,7191 Nei mov¢ment in funds 882 1,753 2,635 30,282 121,6911 8,591 Re¢oncillatlon of funds: Fund balar￿e5 al 1 JanuBry 2024 26,847 35,025 7,296 25,094 32,390 8,178 Furtd balanees at 31 Decembèr 2D24 8,178 26.B47 35,025 38,460 5.156 43,618 Th& siatÈm8nl of financial activities includes ￿lgaInS and losses reCognis￿l in the y¥ar. All income and expenditure derive from continuing 8Ctivitie5. JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Fixed aSS￿s Intangible assets Notes 10 23.216 Current ass&ts Debtors Cash at bank and in hsnd 21,848 11 1,609 19,709 6,458 7.037 Creditors: amounts falling due wlthln oné year 20,718 73,495 12 13181 Net currènt assets 13181 20,400 Total assèts les$ current liabilities 13,177 43,616 35.025 The funds of the charity Restricted income funds Unrestricted fun(Js 13 14 5,156 38.460 26,847 8,178 43.616 35.025 The financial statements were approved by the truste&8 on........ Tru$tee JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity Informatlon John Sugafs Coal And ￿mShouse Charrty is a charity registered wllh the Charity Commisslon in England. The operational address is 83.93 Goodwins Road, Kings Lynn. Norfolk, PE30 SPE. 1.1 Accountlng wnvention The financi81 statements have b8en prepared in accordance with th6 charity's goveming document, th8 Chaiities Act 2011, FRS 102 The Financial Rèporting Sl8nd3rd applicable in the UK and Reput>li¢ of Ireland" and Ihe Charities SORP 'Accounting and R8porting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standafd pplicable in the UK and Republic o>f Ireland IFRS 102)" The charity is a Public Benefii Entity 8s d8f1ned by FRS 102. The charty has taken advant8ge of the Provisions in the SORP lor ch8rities nol to prepare a statement of cash flow5. The financlal statemènts have departed from the ChaTltles IAwounts and Reports) Regulattons 2008 only to the extent required ta provide a true and falr view. This departure has involved following the Statement of Recomrnended Practice lor charities applylng FRS 102 rather ihan 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 sterfing, which is the function81 currency ol the charity. Monetsry amounts in these financial statements are roundsd to thè nearest £. The finsncial statements have been pr8pared under Ihe histc*rical cost convention, [m￿j￿ied lo include thè revaluation of freehold properties and to include invèstment properties and certain financial instruments at lair valuel. The principal accounling ptslicjes adopted are set out below. 1.2 Golng concem At thè time ol approving th6 f nancial statsm8nts, the trustees have a reasonabl& expectation tt)at the ch8rily has adequate resources lo continue in operational 8xistence for the loresèe8ble fulure. Thus the trustees continue to adopt the going Concern basis of a¢counling in preparing the finanryal stslements. 1.3 Charitable funds Unr8Stricled funds arg available for use al the discretion of the trustées in furtherance of their Gharitable objectives. Restricted fkjnds ale subject lo specfic ￿nditIOnS by donor5 or granloTS as to how they may be used. The purposes and uses of the iestiicted funds are set out in the notes to the financial stat8ments. Endowment funds are subject to specffic condition3 by donors that thè c8Pital must be mainlained by the harity. 1.4 In¢omhng resourtes Income is recognised when the ¢h8rity is legally entttled to It after any performance conditions have been met. Ihè amoLsnts can be me8surèd reliably, and ti is probable Ihat income will be received. Cash donations are recognised on receipt. Other don8tions are reoognised once the charity has been notif*d of the donation, unless perforrnan¢e Conditions reqvire dèferral ol the amount. Income tsx reeoverable in relation to donations ￿ceiVed under Gift Aid or deeds of covenant is ￿Cognised al the lime of the donation. LègaGies are recognised on re08ipI or otherwise if the charity has been notbf1ed of an impénding dislribulion, Ihè amount is known, 8nd recaipl is expected. If the amunt is not known, the legacy is treated as a contingent ass¢t. JOHN SUGAR'S COALAND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles (Continuèd) 1.5 Resourees expendèd Expenditure is recognised onee there is a legal or constructive obligation lo transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured relitbly. Expenditure is cJas5ifiod by activlty_ The costs of each activlty are made up of the total of dir8Ct costs and shared costs, Incjuding support costs involved in undertaking each activity. Direct costs attributable to a single activtty are allocated directly to that activity. Sha￿d costs which contribute lo rnore than one activlty ènd support ￿sts which are not attributable lo a single aGtI￿ty are apport+oned between those activities on a ba8lS consistent with the use of resources. Central staff costs ar6 allocated on the basis of tim8 spent, and depreciatioll charges a￿ allocated on the portion of the assets use. 1.6 Impairment of fixèd assets Al each reportrng ènd datè, thè charity reviews the carrying amounts of ils tangibl& and intangible assets to delemiinfy whether there is afjy indication that those assets hav8 suffered an impairment loss. If any such indication exists, the recovorablè amount of the asset is estirllaled in order lo d&temiine thé extent of the impairm&nl loss lif any). Donatlons and legacles 2024 2023 C.O.l.F Incom6 shares 140 138 Charitsble acllvit108 Charitable Charltable Income Income 2024 2023 Charges to widents 32,145 30.375 Income from investm•nts un￿striCted Unr•stricted funds funds 2024 2023 Interest receivable 55 JOHN SUGAR'S COAL AND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activtti•s Charitable Charltsblg Expendlture Exp8nditure 2024 2023 11,454 478 1,169 2,904 5,303 210 68 318 2.494 720 6,331 314 1.224 1,913 2,473 196 58 318 3.031 720 13,053 Heating gas Eleetri(xty Insurance Water ratès General maintenance Subsciiptions- National Association of Mrnshouses TV licenc8s and sundry expenses Accountancy Commissions Other5 DÉcorating and major rep8ir5 25.118 29,631 25.118 29,631 Trustees None of the trustees lor any peTson5 connected whh them) rèceived any r&muneTatson or benèfits from the charity during the year. Employe8S The average monthly numb8r of employees during the year was.. 2024 Numbèr 2023 Mumber Totsl There were no employges whose annual remuneration was more than £60,000. Galns and Ioss•s on Investments Unr¢strieted Restricted lunds funds 2024 2024 Total Unr¢strieted Restricted funds funds 2023 2023 Total 2024 2023 GaSnslllos$esl arising on: Revaluation of investments 1,753 1,753 1,341 28 1,369 JOHN SUGAR'S COALAND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Taxation The charity is exempt from taxation on its activit18s b6cause all ils incorne is applied for charitable purposes. 10 IntsngSble flxed assets Almshou80 Coal Charty Extraordlnary Charfty Repalr Fund Yotal Cost Al 1 January 2024 Rèvaluation 4,636 25 492 16,719 1,341 21,847 1,369 At 31 December 2024 4,661 495 18.060 23,216 Amort15atlon and impairment At 1 January 2024 and 31 December 2024 Carrying amount Al 31 December 2024 4,861 495 18,060 23.216 At 31 December 2023 4,636 492 16,720 21.848 11 Debtors Amounts falling due within one yèar- 2024 2023 Trade debtors Other doblors 567 1,042 216 6,242 1,609 6,458 12 Credltors: amounts falllng due wlthln one year 2024 2023 Other creditors 318 318 13 Restricted fund$ The restricted funds of the charity comprise the unex￿nd&d balan¢es of donation5 and grants held on trust subject to specific conditions by donors as lo how thèy may be used. At 1 January 2024 Transfers Gains and lossès At31 December 2024 26,847 121,7191 28 5,156 JOHN SUGAR'S COALAND ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Réstricted fvnds Icontlnuedl Prevlous year: At 1 January 2023 Transfers Galns and 1055•S At31 Decemb•r 2023 25,094 1,753 26,847 14 Unrestricted funds The unrestricted funds ol the charity comprise the unexp8nded balances of donatlOn5 and grants which are not subject to specific conditions by donors and giantors as to how they may be used. These include deS￿nated fund5 whKh have been set aside out of unrestricted fvjnds by the trkjstees for specific purposes. Included in the closing balance of the GeneT81 Fund al 31st December 2024 is £18,060, whlch is the balance of th8 Exiraordlnary Repair Fund. At 1 January 2024 Incoming resour¢•s Resour¢es gxpended Transfttr$ Gains and losses At31 December 2024 nen8ral funds 8,178 32,340 125,1181 21,719 1,3A1 38,460 Transfers Gains and losses At31 Decemb•r 2023 Previous y•ar: At 1 January 2023 Incoming resoureès Resourcas expended General funds 7.296 30,513 129,6311 8,178