Charity registration number 216830 WARWICK UNITED CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
WARWICK UNITED CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Co-opted Trustees: Mrs J Honnoraty- Chairman Mr E Kibbler Mr G Sutherland Mr l Atkinson Mrs A Lettis Mrs L Bolton Nominatlve Trustees: Cllr D Browne Cllr P Wightman Charity number 216830 Principal address C/0 Moore & Tibbits 34 High Street Warwick Warwickshire CV344BE Independent examiners Burgis & Bullock 23-25 Waterloo Place Leamington Spa CV32 SLA Bankers Lloyds TSB Bank plc 10-12 Swan Street Warwick CV34 4BT Solicitor5 Moore & Tibbits 34 High Street Warwick CV344BE
WARWICK UNITED CHARITY CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 7-22
WARWICK UNITED CHARITY TRUSTEES, 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 financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's Trust Deed dated 9th September 1977, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objectives and artivlties The Charity's objects are to providing assistance either generally or individually to persons resident in the town of Warwick, who are in need, hardship or distress. Public Benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake to ensure that public benefit Is maintained. As well as the provision of Almshouse facilities for those in need of accommodation the charity provides a range of grants each year in order to extend the number of beneficiaries it can reach. Achievement5 4nd performance The Charity provides Almshouses accommodation at Westgate and Tibbits Court in Warwick. The costs of providing this accommodation are financed by investment incorne, rerbt5 from agricultural land and a share of Sir Thomas Delves Charity. All of the Almshouses were occupied during the year. Financial review At 31st December 2023 the charity's unrestrirted funds including the Extraordinary Repair Fund and Development Fund, held in designated funds were £449,195 12022 £379,869). The unrestricted funds comprise of investments of the Charity totalling £434,871 12022 - £391,226 1 and the net current assets of the Charity of £34,799 12022 £15,418) and long term liabilities of £20,475 12022 £26,775). Endowment funds consisting of investments and property stood at £2,221,35412022 - £2,128,9061. Given the nature of the charity's activities. the trustees believe it is appropriate to hold around £25,000 as unrestricted cash reserves to meet the costs of emergency repairs that could arise at any time. The balance of unrestricted reserves will be used to further the charitable objectives of the charity. The trustees have considered the most appropriate policy of investing unrestricted funds and have decided that a sum of around E25,000 should be maintained as dirertly accessible cash in the event of emergency repairs. The balance of the charity's unrestricted funds has been invested in COIF and NAAF funds, which are periodically reviewed by the Trustees. The Trustees have considered the risks to which the Charity is exposed and have established the principal risk to the charity as being the dilapidation of the properties. The charity's properties are regularly reviewed to ensure that they are properly maintained and that all Health and Safety issues are addressed. The trustees maintain satlsfactory insurance of the Almshouses which have provision for alternative accommodation costs in the event of damage or destruction by fire or other comprehensive risks.
WARWICK UNITED CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Plans for future periods The Trustees continue to progress the sale of their potential development land at Barford. During the year ontract for the sale of the land was signed. The completion of the contract is conditional upon planning permission being granted for the development of the land. Structurej governance and management The charity Is governed by a Trust Deed dated 9th September 1977 and 15 registered with the Charity Commissioners INO. 2168301. The trustees who served during the year and up to the date of signature of the financial ststements were: Mrs J Honnoratv Mr E Kibbler Mr G Sutherland Mr J Atkinson Mrs l Bolton Mrs A Lettis Cllr M Ashford Cllr N Murphv Cllr M Noone Cllr D Browne Cllr P Wightman (Resigned 30 May 20231 (Resigned 30 May 20231 IResigned 30 May 20231 IAppointed 30 May 20231 (Appointed 30 May 20231 The trustees have met three times during the year a5 well as inspecting the Almshouses and meeting the residents periodically. The induction process for a new Trustee is as follows - The Chairman will meet with the new Trustee to explain all aspects of the charity and to provide all relevant information regarding it. The Clerk to the trustees will write to the new trustee with a copy of the scheme governing the charity and a copy of the last set of actounts. The chairman and the clerk to the trustees will also provide all the 35SlStance and information necessary for the new trustee to become familiar with the workings of the charity and the responsibilities of becoming a trustee. The trustees, report was approved by the Board of Trustees. J Honnoraty Date: 202¥
WARWICK UNITED CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WARWICK UNITED CHARITY I report to the trustees on my examination of the financial Statements of Warwick United Charity (the charity) for the year ended 31 December 2023. Responsibiltties and basls 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 Att 2011 (the 2011 Actl. I 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 I have followed all the applicable Directions given by the Charity Commission under section 14515llbl 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 IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this ha5 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 l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act,. or the financial statements do not accord with those records,. or 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 anv requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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 financial ststementsto be reached. W A Hubbard FCCA Burgis & Bullock 23 25 Waterloo Place Leamington Spa CV32 SLA
WARWICK UNITED CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Current financial year Unrestritted Unrestrirted Endowment funds funds funds general designated 2023 2023 Total Total 2023 2023 2022 Notes Income and endowments from: Donations and legacies Investments Other income 3.415 70,299 1.406 3,415 70,299 36,406 2,542 65,965 io 35,000 Totsl income and endowments 75,120 35,000 110,120 68,517 Expenditure on: Charitable activities Other expenditure 34,832 14,607 34,832 14,607 48.901 28,461 Total expenditure 49,439 49,439 77,362 Net gainslllossesl on investments io 13,721 29,924 57,448 101,093 1123,1931 Net Income/{expenditurel and movement in fund5 39,402 29,924 92,448 161.774 1132,0381 Reconciliation of funds: Fund balances at l January 2023 137,972 241,897 2,128.906 2,508,775 2,640,813 Fund balances at 31 December 2023 177,374 271,821 2,221.354 2,670,549 2,508,775 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
WARWICK UNITED CHARITY STATEMENT OF FINANCIALACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Prior financial year Unrestrirted Unrestrlcted Endowment funds funds funds general designated 2022 2022 Totsl 2022 2022 Notes Income and endowments from: Donations and legacies Investments Other income 2.542 65,965 io 2.542 65,965 io Total income and endowments 68,517 68,517 Expendlture on: Charitable activities Other expenditure 48,901 28,461 48,901 28,461 Total expenditure 77,362 77,362 Net gains/llossesl on investments io 119,6491 (23,9201 179,6241 1123,1931 Net income and movement in fund5 128,4941 123.9201 179,6241 1132,0381 Reconciliation of funds: Fund balances at l January 2022 166,466 265,817 2,208,530 2,640,813 Fund balances at 31 December 2022 137,972 241,897 2,128,906 2,508,775
WARWICK UNITED CHARITY BALANCE SHEET AS Af31 DECEMBER 2023 Z023 2022 Notes Fixed a55et5 Tangible assets Investment property Investments 12 13 1,350,075 173,700 1,132,450 1,350,075 173,700 996,357 14 2,656,225 2,520,132 CuTrent a55ets Debtors Cash at bank and in hand 15 7.809 66,528 4,368 49,173 74,337 53,541 Cred5tors'. amounts fallln8 due wlthin one year 17 139.5381 138,1231 Net current assets 34,799 15,418 Total assets less current liabilltles 2,691,024 2,535.550 Creditors: amounts falling due after more than one year 18 120,4751 126,7751 Net assets 2,670,549 2,508,775 The funds of the charity Endowment funds Unrestricted funds general Unrestricted funds - designated 19 2,221,354 177,374 271,821 2,128,906 137,972 241,897 20 2,670.549 2,508,775 The financial statements were approved by the trustees on rs J Honnoratv
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity information The charity is governed by a Trust Deed dated 9th September 1977 arbd is registered with the Charities Commission (No. 2168301. 1.1 Accounting conventlon 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" I"FRS 102,1 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 IFRS 1021" (effective I January 20191. 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 3 true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 issued 2019 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 ststements 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 Conrn 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 or grantor5 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. The endowment funds comprise the Almshouses buildings and investments.
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 310ECEM8ER 2023 Accounting policies Icontlnued) 1.4 Income Income is recognised when the charity is legally erbtitled to it after any performance condition5 have been met, the amounts can be measured reliably, and it is probable that income will be received. All investment income excluding deposit interest is shown on the basis of amounts receivable in the year and includes any tax credit or income tax which is recoverable by the charity. Deposit interest is shown on the basis of amounts credited in the year. Rental income is included in the period to which it relates. 1.5 Expendlture All expenditure is accounted for on an accruals basis. HousinE Costs represent the running costs of the Almshouses properties. Grants are accounted for on a commitment basi5. 1.6 Tangible fixed assets The housing properties which are Almshouses are included in the accounts at a previous valuation and are held at 'deemed cost. The transitional provlsions of FRS 102 are being followed and the valuation has not been updated. As the properties are maintained in a state of repair such that their estimated residual value is not les5 than their carrying value, no depreciation is provided. The trustees review their valuation annually given their use. Land and buildings are included in the accounts at valuation. Freehold land is not depreciated. The gain or 1055 arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Investment properties Investment propertvi which is property held to earn rentals and/or for capital appreciation, 15 initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recogr7i5ed in proflt or1955. 1.8 Flxed asset investments Fixed asset investments are initially measured at tran5aCtiorb price excluding transaction costs, and are subsequently measured at fair value at eath reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred.
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policles (Continued) 1.9 Impairment of fixed a55e15 At each reporting end date, the charity reviews the carrying amounts of its tangible 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 lif any). 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowing5 in current liabilitie5. 1.11 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity become5 party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the a55et and settle the liability simultaneously. Basicfinoncial a55et5 Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised tost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 8asicflnanclul Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognlsed at transattion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are Subsequently carried at amortlsed cost, Using the effective interest rate method. Trade creditors are obligation5 to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment IS due within one year or less. If not, they are presented as non-current liabillties. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost Using the effective interest method.
WARWICK UNITED CHARITY NOTES TO THE FINANCIALSTATEMENT5 {CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2023 Accounting policie5 (Continued) Derecognition offinancial Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Conce55ionary loans Conces5ionary loans are initially recognised and measured at the amounts received or paid. The carrying amounts in subsequent years reflects repayments and any accrued interest and are adjusted if necessary for any impairment. Income from donations and legacles Unrestricted Unrestricted funds funds 2023 2022 Grants receivable 3,415 2.542 Gran15 receivable lor core activities Sir Thomas Delves Charity 3,415 2,542 3,415 2,542 Incorne from investments Unrestrlcted Unrestrlcted funds funds 2023 2022 Rental income Income from unlisted investments Interest receivable 46,306 22,870 1,123 43,189 22,528 248 70,299 65,965 10-
WARWICK UNITED CHARITY NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Other income Unre5trirted Endobvment funds funds 2023 2023 Total Unrestrirted Endowment funds funds 2022 2022 Tolal 2023 2022 Net gain on disposal of tangible fixed assets Other income 35,000 35,000 1,406 1,406 io io 1.406 35.000 36,406 io io Expendlture on charltable actlvltles 2023 2022 Direct costs Insurance costs Repairs & renewals Garden maintenance Subscriptions Sundry expenses 2,243 7,384 4,932 2,021 12,493 4,622 250 515 1,748 16,307 19,901 Grant funding of activities (see note 61 18,S25 29,000 34.832 48,901 Analysis by fund Unrestricted fund5 general 34,832 48,901
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Grants payable 2023 2022 Grants to institutions.. The Charity of Thomas Oken ISWMindl Lord Leycester Hospital Warwick Food Bank 5.000 4,525 5,000 15,000 5,000 9.525 25,000 Grants to individuals 9,000 4,000 18,525 29,000 Trustees None of the trustees lor any persons connected with them) received any remuneration, benefits or reimbursed expenses from the charity during the year12022 - £nill. Employees The average monthly number of employees during the year was: 2023 2022 Number Nurnber Totsl There were no employees whose annual remuneration was more than £60.000. 12-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Governance and Administration costs Unrestricted Unrestricted funds funds general general 2023 2022 Clerk'5 fees Independent examiner fees Legal /Planning and professional fees 10,000 3,427 1,180 10,000 3,030 15,431 14,607 28,461 Professional fees includes £2,400 for accountsncy advice payable to our independent examiner. Investments held and managed by CCLA are subject to central fund management charge5 which are not specifically allocated to the individual charities invested in their funds. The CCLA current published rate of fund management charge is 0.74% and 1% for ongoing charges. 13-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Taxation The charity is exempt from taxation on its activities because all it5 income is applied for charitable purposes. 12 Tangible fixed assets ¢Xher F¥eehoJd Landand Bulldlngs WE5tEate fibbits Court Almhouses rotal Cost or valuation At l January 2023 75 600,000 750,000 1,350,075 At 31 Detember 2023 75 600,000 750,000 1,350,075 Carrying amount At 31 December 2023 75 600,000 750,000 1,350,075 At 31 December 2022 75 600,000 750,000 1,350,075 Westgate Almhouses were revalued at 26th April 2018 by Paul A Britten B.Sc. FRICS Ichartered Surveyorsl, independent valuers not connected with the charity on the basis of market value. The valuation of £600,000 conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. The transitional provlslons of FRS 102 are being followed and the valuation has not been updated. Tibbits Court was revalued in 2017 by the trustees for a value of £750,000. The transltlonal provlslons of FRS 102 are being followed and the valuation has not been updated. The trustees believe these values do not exceed the current market value of the propertles and that the proportion of the value attribLttable to buildings is such that any depreciation charge would be immaterial. At 31 December 2023, had the revalued assets been carried at historic cost less accumulated depreciation {if depreciation deemed appropriatel and accumulated impairment losses, their carrying amount would have been approximately £228,58812022- £228,588). 15-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Investrnent property 2023 Fair value At l January 2023 and 31 December 2023 173,700 Investment property comprises freehold land held at Barford. The value ststed does not take into account any 'Hope Value for future development of this agricltltural land. On 10th November 2023, the Trustees entered into a conditional sale agreement with regards to the land. which subject to satisfaction of certain conditions could result in future sale proceeds of £1,700,000. However, due to the level of uncertainty that the conditions can be met and which are out of the control of the Trustees, the land continues to be carried at its current market value as agricultural land. 14 Fixed asset investments Unlisted Investments Cost or valuatlon At l January 2023 Additions Valuation changes 996,357 35,000 101,093 At 31 December 2023 1,132,450 Carrying amount At 31 December2023 1,132,450 At 31 December 2022 996,357 16-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Fixed a55et investments IContSnued) 2023 2022 Fund Investments at fair value comprise.. 16,783.46 Charities Official Investments Fund Income Shares 1856.55 Charities Official Investments Fund Income Shares Endowment 6,837.70 Charities Official Investment Fund Income Shares Unrestricted 1096.05Charities Official Investment Fund Accumulation Designated Shares 9,922.22 Charities Official Investment Fund Income Shares Endowment 1,378.5 Charities Official Investment Fund Income Shares Unrestricted 6,519.15 Charities Official Investment Fund Income Shares Endowment Endowment 333,068 36,843 135,694 305,038 124,275 271,821 198,296 27,356 129,372 241.897 181,608 25,054 118,485 1,132.450 996,357 15 Debtors 2023 2022 Amounts falling due within one year: Other debtors Prepayments and accrued income 6.674 1,135 3,259 1,109 7,809 4,368 16 Loans and overdrafts 2023 2022 other loans 26.775 33,075 Payable within one year Payable after one year 6,300 20,475 6,300 26,775 17-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Loans and overdrafts Icontinued) During the year ended 31st December 2017 the charity received two loans of £31,500 each from the Almshouses Association. The loans are due to be repaid in twenty equal instalments of £1,575 each within ten years of the first payment falling due. No interest is due on the loan. 17 Creditor5: amounts falling due within one year 2023 2022 Borrowings Accruals and deferred income 6,300 33,238 6,300 31,823 39,538 38,123 Included within 'Accruals and deferred income, is £412 12022 £1.153 1 of deferred income, which relates to contributions paid in advance, grant commitments of £4,525 12022.. £15,000) and a £15,000 12022.. £nlll deposit received for the sale of land. 18 Creditors: amounts falling due after more than one year 2023 2022 Borrowings 20,475 26,775 18-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Endowment funds Endowment funds represent assets which must be held permanently by the charity in accordance with the Trust Deed dated 9th September 1977. Incorne arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At l January 2023 Incoming resources Gains and losses At31 December 2023 Permanent endowments Housing Properties Other Freehold Land Fixed Asset Investments 1,350,000 173.775 605,131 1,350,000 173,775 697,579 35,000 57.448 2,128,906 35,000 57,448 2,221,354 Previous year: At l Januarv 2022 Incoming resources Gains and losses At31 December 2022 Permanent endowments Housing Properties Other Freehold Land Fixed Asset Investments 1,350,000 173.775 684,755 1,350,000 173,775 605,131 179,6241 2,208,530 179.6241 2,128,906 19-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Unrestrlcted funds - deslgnated These are unrestricted funds which are material to the charity's activities. At l January 2023 Gains and losses At31 December 2023 Extraordinary Repair Fund Development Fund 184,447 57,450 22,817 7,107 207,264 64,557 241,897 29,924 271,821 Previous year: At l Januarv 2022 Gains and losses At31 December 2022 Extraordinary Repair Fund Development Fund 202,686 63,131 118,2391 15,6811 184,447 57.450 265,817 123,9201 241,897 The Extraordinary Repair Fund and The Development Fund are designated reserve5. The purpose of these funds is as described in the Trustee's Annual Report. -20-
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 21 Analysis of net as5et5 between funds Unre5trirted Unrestricted Endowrnent funds funds funds general deslgnated 2023 2023 Total 2023 2023 At 31 December 2023.. Tangible assets Investment properties Investments Current as5etsllliabilitiesl Long term liabilities 1,350,075 173,700 697,579 1,350,075 173,700 1,132,450 34,799 120,4751 163,050 34,799 120,4751 271,821 177,374 271,821 2,221,354 2,670,549 Unrestrirted Unrestrirted Endowrnent funds funds funds general designated 2022 2022 Total 2022 2022 At 310ecember 2022: Tangible assets Investment properties Investment5 Current assets/lliabilitiesl Long term liabilities 1,350,075 173,700 605,131 1,350,075 173,700 996,357 15.418 126,7751 149,329 15,418 126,7751 241,897 137,972 241,897 2,128,906 2,508,775 22 Related party transactions During the year Moore & Tibbets, a company in which a Trustee of the Charity is a director, invoiced the charSty £930 12022- £12.0001 for legal fees and disbursements in relation to the sale of land and buildings held in fixed assets. 21
WARWICK UNITED CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 23 Cash generated from activitie5 2023 2022 Surplu51ldeficitl for the year 60,681 18,4251 Adjustments for.. Movements In worklng Capital: Ilncreaselldecrease in debtor5 Increase in creditors 13,4411 1,415 12,132 18,095 Cash generated from/{absorbed by) actlvitles 58,655 121,8021 Disposal of property Almshouse loan repayments 135,0001 16,3(101 16,3001 Increasel (Decrease) In cash 17,355 15,082 -22-