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2023-12-31-accounts

SURFLEET UNITED CHARITIES

incorporating

THE CHARITY OF THE SURFLEET SALTMARSH ALLOTMENTS

CHARITY COMMISSION REGISTERED NO. 215260

FINANCIAL STATEMENTS

for the year ended

31 December 2023

SURFLEET UNITED CHARITIES

Annual Report

for the year ended 31 December 2023

INDEX

SURFLEET UNITED CHARITIES

Trustees' Annual Report

for the year ended 31 December 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The Surfleet United Charities are constituted by a Charity Commission scheme and includes the registered charity, no. 215260. The Charities contained within include The Charity of Joseph Burton, The Charity of Samuel Elsdale, The Charity known as the Poor's Land and the Charity known as Surfleet Saltmarsh Allotments. The registered Charity address is 2 Farthing Close, Boston, Lincs. PE21 7LY.

Co-operative Trustees (Nominated by other trustees)

Chairman - John Allen, Minninglow House, Glenside South, Pinchbeck, Spalding, Lincs. PE11 3SA (resigned February 2023)

Simon Brand, 11 Station Road, Surfleet, Spalding, PE11 4DA

Graham Hillier, Old Lammas, Reservoir Road, Surfleet, Spalding, Lincs. PE11 4DH (from February 2022)

Annette Mary Rhodes, 110 Station Road, Surfleet, Spalding, Lincs. PE11 4DB (from February 2023)

Nominative Trustees (Nominated by Parish Council)

Chairman - Glynn Waltham, 89 Seas End Road, Surfleet, Spalding, Lincs. PE11 4DQ (from February 2023) Vice Chairman - Mike Chapman, 17 Station Road, Surfleet, Spalding, Lincs. PE11 4DA (from February 2023) Alan Tokley, 39 Station Road, Surfleet, Spalding, PE11 4DB

Other assisting bodies

Mrs L Barlow - Clerk (Paid), 2 Farthing Close, Boston, Lincs. PE21 7LY

Lloyds Bank Plc, Market Place, Spalding, Lincs. PE11 1SF Moore Thompson Chartered Accountants, Bank House, Broad Street, Spalding, Lincs. PE11 1TB Maples Solicitors, 23 New Road, Spalding, Lincs. PE11 1DH R Longstaff & Co., Professional advisers, 5 New Road, Spalding, Lincs. PE11 1BS

Roythornes Solicitors, Enterprise Way, Spalding, Lincs. PE11 3YR Calthrops Solicitors LLP, 18 Hall Place, Spalding, Lincs. PE11 1SQ

Objectives, achievements and financial review

The objective of the Charities known as Samuel Elsdale, Joseph Burton and the Poor's Land is to apply seven eighths of any income generated after defraying any incurred expenses towards the benefit of the aged and poor associated with the ancient Parish of Surfleet. This usually takes the form of Gifts at the discretion of the trustees. During the year ended 31 December 2023, £2,380 was gifted.

The Trustees shall apply the yearly income of the Charity known as the Salt Marsh Allotment in supplementing relief or assistance provided out of public funds.

At 31 December 2023, the bank accounts and investments totalled £528,300.

Public benefit

The trustees consider that the objectives and activities of the charity are in accordance with the Charity Commissions' general guidance on public benefit. The objectives and activities of the charity during the year which demonstrate this are given in the objectives, achievements and financial review section above.

Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the management of its investments and finances and are satisfied that the systems in place sufficiently manage its exposure to these risks. The trustees have also developed strong working relationships with assisting bodies who are able to provide professional advice when required.

Page 1

SURFLEET UNITED CHARITIES

for the year ended 31 December 2023

Trustees' Annual Report (continued)

Going concern

At the time of writing, the trustees are of the opinion that there is nothing to negatively effect the going concern status of the charity and that there are sufficient reserves to protect the beneficiaries.

Glynn Waltham , Chairman

On behalf of the Trustees.

Date: 05 August 2024

Page 2

Independent Examiner's Report to the Trustees of

SURFLEET UNITED CHARITIES

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023, which are set out on pages 4 to10.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirement of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 Act; or

  2. the accounts do not accord with those records;

I 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 accounts to be reached.

H.J.Bright B.A, F.C.A, C.T.A. Moore Thompson Chartered Accountants

Date: 08 August 2024

Page 3

SURFLEET UNITED CHARITIES

Receipts and Payments Account

for the year ended 31 December 2023

Note
SURFLEET SALTMARSH ALLOTMENTS
Receipts
Land rent
2
Investment income
Deposit interest
Wayleave
Clerk Administration Fees
Sale of Belnie Meadows
Total receipts
Direct payments
Maintenance of property
Insurance premiums
Surfleet Parish Council
Clerk's salary
Office and sundry expenses
Room hire
Independent examiner's fee
Legal and professional
Trustees' insurance
Purchase of land
Total payments
(Excess payments) / excess receipts for the year
Bank balances at 1 January 2023
Bank balances at 31 December 2023		 £
£
£
£
57,513
56,325
1,769
1,762
178
39
641
645
1,905
1,080
27,731
-
89,737
59,851
11,804
3,969
1,749
1,757
13,553
5,726
12,000
12,000
25,553
17,726
3,809
2,159
322
324
750
550
228
216
-
1,353
735
80
112,538
-
118,382
4,682
143,935
22,408
(54,198)
37,443
223,096
185,653
168,898
223,096
2023
2022		 £
£
£
£
57,513
56,325
1,769
1,762
178
39
641
645
1,905
1,080
27,731
-
89,737
59,851
11,804
3,969
1,749
1,757
13,553
5,726
12,000
12,000
25,553
17,726
3,809
2,159
322
324
750
550
228
216
-
1,353
735
80
112,538
-
118,382
4,682
143,935
22,408
(54,198)
37,443
223,096
185,653
168,898
223,096
2023
2022
59,851
5,726
12,000
17,726
4,682
22,408
37,443
185,653
223,096

All receipts and payments are in respect of unrestricted funds.

Page 4

SURFLEET UNITED CHARITIES

Receipts and Payments Account

for the year ended 31 December 2023

Notes
JOSEPH BURTON CHARITY
Receipts
Land rent:
Poorlands Charity
3
Investment income
Deposit interest
Wayleave
Doles (not cashed)
Sale of land
Total Receipts
Direct Payments
Drainage rates
Distribution to the elderly and poor of Surfleet
Indirect payments
Sundry expenses
Independent examiner's fee
Legal and professional fees
Trustees Insurance
Total payments
Net cash inflow for the year
Bank balances at 1 January 2023
Bank balances at 31 December 2023		 2022
£
£
£
£
4,735
6,366
42
42
-
1
12
12
130
210
13,865
33,000
18,784
39,631
71
(16)
2,380
2,500
2,451
2,484
-
(564)
228
216
-
2,322
(111)
1,198
117
3,172
2,568
5,656
16,216
33,975
64,890
30,915
81,106
64,890
2023		 2022
£
£
£
£
4,735
6,366
42
42
-
1
12
12
130
210
13,865
33,000
18,784
39,631
71
(16)
2,380
2,500
2,451
2,484
-
(564)
228
216
-
2,322
(111)
1,198
117
3,172
2,568
5,656
16,216
33,975
64,890
30,915
81,106
64,890
2023
39,631
2,484
3,172
5,656
33,975
30,915
64,890

All receipts and payments are in respect of unrestricted funds.

Page 5

SURFLEET UNITED CHARITIES

Statement of Assets and Liabilities

at 31 December 2023

SURFLEET SALTMARSH ALLOTMENTS
MONETARY ASSETS
Cash deposits
Current account
C.O.I.F. Charities deposit
Debtors
Rent payable
MONETARY LIABILITIES
Creditors
Independent examiner's fee
NET MONETARY ASSETS
Reserves Summary
Endowment funds
General unrestricted fund
Designated fund: land management
JOSEPH BURTON CHARITY
MONETARY ASSETS
Cash deposits
Current account
Debtors
Rent payable
MONETARY LIABILITIES
Creditors
Independent examiner's fee
NET MONETARY ASSETS
Non-monetary assets - see note 4		 Unrestricted
£
90,563
4,231
94,794
1,375
(330)
95,839
-
83,339
12,500
95,839
81,106
81,106
579
(330)
81,355		 Endowment
£
74,104
-
74,104
-
-
74,104
74,104
-
-
74,104
-
-
-
-		 2023
£
164,667
4,231
168,898
1,375
(330)
169,943
74,104
83,339
12,500
169,943
81,106
81,106
579
(330)
81,355		 2022
£
219,043
4,053
223,096
1,375
(220)
224,251
74,104
137,647
12,500
224,251
64,890
64,890
-
(220)
64,670

We approve these accounts and confirm that we have made available all relevant records and information for their preparation.

ON BEHALF OF SURFLEET UNITED CHARITIES

G. Waltham

Chairman M. Chapman

Vice Chairman

Date: 05 August 2024

Page 6

SURFLEET UNITED CHARITIES

for the year ended 31 December 2023

Notes to the Accounts

1 Accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained consistent with the previous year.

a) Basis of preparation of financial statements.

The financial statements have been prepared in accordance with the exemptions applicable under the Statement of Recommended Practice on Accounting by Charities, the Charities Act 2011 and the requirements of the Charities Commissioners publication 'Accounting for the Smaller Charity'.

b) Statement of financial activities

The statements of financial activities has been prepared on a receipts and payments basis which is a consistent basis to previous years.

c) Statement of Net Assets

The Statement of Assets shows the assets of the charity and any amounts due to or owed by the charity. The statement will not include any provisions for liabilities and charges. The trustees are of the opinion that should any significant matters arise prior to the year end, they will disclose them within the notes to the financial statements.

2 The Charity of The Surfleet Saltmarsh Allotment - Non-monetary assets

Land
30a.
Tenant: French
29a.3r.32p.
Tenant: Naylor Flowers
12.5a.
Grazing Land in Surfleet Marsh
Tenant: M Parker & Sons Limited
37.261a.
Land at Old Three Tuns Farm in Surfleet Marsh
Tenant: R Bratley (Quadring) Limited
9.42a.
Link Road Roundabout, Surfleet
Tenant: L & D Flowers Limited
5.4a.
Land at Belnie Meadows
(Sold March 2023)
Tenant: Mr & Mrs Gray
7.3a.
The Café Field, Surfleet
Tenant: L & D Flowers Limited
The Slipway, Surfleet Reservoir
Tenant: Sulman
14.282a.
Land at Old Hall Place and Herdgate Lane, Pinchbeck
Tenant: Horizon Flowers
39a
Parsons Drove
Tenant: L & D Flowers Limited
14.16a
Marsh Drove
Tenant: K & J Palmer
Grassland in Surfleet Marsh
Arable land with farmhouse and agricultural building in
Surfleet Marsh		 2023
2022
£
£
2,750
1,375
13,466
13,466
1,625
1,625
13,502
13,502
3,000
3,000
188
375
1,560
1,560
100
100
5,712
5,712
13,132
13,132
2,478
2,478
57,513
56,325
Rent received

7

SURFLEET UNITED CHARITIES

Notes to the Accounts (continued)

for the year ended 31 December 2023

2 The Charity of The Surfleet Saltmarsh Allotment - Non-monetary assets (continued)

The freehold title of this land, except for that at Belnie Meadows, is vested in the Official Custodian of Charitable Lands.

of Charitable Lands.
Other Land
14.16a
Land at Marsh Drove
5.4a.
Belnie Meadows (Sold march 2023)
10.24a
Additional land at Marsh Drove, Surfleet Marsh		 2023
£
137,183
-
112,538
249,721		 2022
£
137,183
28,157
-
165,340

During 2010, land at Belnie Lane Surfleet was purchased for a total cost of £56,315. The initial land cost and subsequent associated rental income of the land has been allocated between the three charities: Surfleet Saltmarsh Allotments, Surfleet United Charities and Surfleet Cottage Homes in proportion to ownership.

The property consisted of one concrete block and timber clad building with fenced paddock and 5.4 acres of land.

In March 2012, the Charity has purchased 8.35a of land at the Café Field, Surfleet for a total cost of £92,943 under the name of the Surfleet Saltmarsh Allotments.

In March 2023 the 5.4a of land at Belnie Meadows was sold with each charity receiving a proportion of the net sales procceeds of £55,461.

The charity subsequently purchased an additional 10.24 acres of land at Marsh Drove, Surfleet Marsh in December 2023. This land has been rented out post year end at an annual rent of £1,792.

Investments

C.O.I.F. Income Shares
C.O.I.F. Income Shares
Surfleet Saltmarsh Allotment Building Fund:
M&G Charifund Unit Trust
Total Investments
Black Rock Charities UK Bond Fund Class A (Distributing)
(formerly Charishare Common Investment Fund)		 Cost
Holding
£
units
15,914
3,246.56
495
76.97
16,409
2,970
2,164.95
8,305
523.43
11,275
27,684		 Market
Value
£
64,428
1,527
65,955
55,330
157,011
212,341
278,296

8

SURFLEET UNITED CHARITIES

Notes to the Accounts (continued)

for the year ended 31 December 2023

3 Joseph Burton Charities - Non-monetary assets

Joseph Burton Charities- Non-monetary assets
Land
The Charity of The Poors' Land
22a.3r.34p.
Gosberton Road and Marsh Road, Sufleet
let as allotments (less 2.93 acres sold May 2022)
9.75a.0r.0p.
Surfleet Cheal, Surfleet Marsh Road, let to Mr. K. Palmer
5.4a.
Belnie Meadows let to Mr & Mrs Gray (Sold March 2023)		 2023
2022
2,115
2,980
2,526
3,198
94
188
4,735
6,366
Rent received
6,366

In May 2022 - 2.93 acres at Lowgate, Surfleet was sold for £33,000.

The freehold title of this land is vested in the Official Custodian of Charitable Lands.

Other Land
5.4a.
Belnie Meadows (Sold March 2023)		 2023
£
-		 2022
£
14,079

During 2010, land at Belnie Lane Surfleet was purchased for a total cost of £56,315. The initial land cost and subsequent associated rental income of the land has been allocated between the three charities: Surfleet Saltmarsh Allotments, Surfleet United Charities and Surfleet Cottage Homes in proportion to ownership.

The property consisted of one concrete block and timber clad building with fenced paddock and 5.4 acres of land.

In March 2023 the 5.4a of land at Belnie Meadows was sold with each charity receiving a proportion of the net sales procceeds of £55,461.

9

SURFLEET UNITED CHARITIES

Notes to the Accounts (continued)

for the year ended 31 December 2023

4 Statement of Assets and Liabilities Comparatives

Statement of Assets and Liabilities Comparatives
Unrestricted Endowment
£
£
SURFLEET SALTMARSH ALLOTMENTS
MONETARY ASSETS
Cash deposits
Current account
144,939
74,104
Business 30 day notice account
-
-
C.O.I.F. Charities deposit
4,053
-
148,992
74,104
Debtors
Rent payable
1,375
-
MONETARY LIABILITIES
Creditors
Independent examiner's fee
(220)
-
NET MONETARY ASSETS
150,147
74,104
Reserves Summary
Endowment funds
-
74,104
General unrestricted fund
137,647
-
Designated fund: land management
12,500
-
150,147
74,104		 2022
£
219,043
-
4,053
223,096
1,375
(220)
224,251
74,104
137,647
12,500
224,251

10