1 

5 

af 

é 

es 

REGISTERED CHARITY NUMBER: 217437 

| 

Report of the Trustees and 

Financial Statements 

for the Year Ended 31 December 2020 for The Municipal General Charity 

Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG 

| 



The Municipal General Charity 

Contents of the Financial Statements for the Year Ended 31 December 2020 


**----- Start of picture text -----**<br>
|||||||||
|---|---|---|---|---|---|---|---|
|Page|
|Report of the|Trustees|1|to|5|
|Report|of the|Independent|Auditors|6|to|7|
|Statement|of Financial|Activities|8|
|Balance|Sheet|9|
|Notes|to|the|Financial|Statements|10|to|20|
|Detailed|Statement|of Financial|Activities|21|

**----- End of picture text -----**<br>




The Municipal General Charity 

Report of the Trustees for the Year Ended 31 December 2020 

| | | ' | 

The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of 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). 

## OBJECTIVES AND ACTIVITIES 

Objectives and aims The object of the charity is the application: of income for relief in need relieving either generally or individually persons in Newark, Farndon, Winthorpe, Hawton, Collingham, Coddington, Langford and Holme, who are in conditions of need, hardship or distress by making grants of money, providing or paying for items, services or facilities calculated to reduce the need of hardship or distress of such persons. 

The trustees confirm that they have considered the Charity Commission's guidance on public benefit. when reviewing the charity's aims and objectives and in planning in future activities and setting the grant making policy for the year. 

In furtherance of the object, the trustees have undertaken the following activities:1.The trustees actively encourage application from aid from various bodies on behalf of individuals in need. 2. The upkeep. and maintenance of the properties in Newark and the surrounding area held for investment purposes. 3. A regular review of the charity's finances and a review of investments twice annually on formal reports and valuations from the charity's stockbrokers. 

Public benefit In deciding on how to direct the grant-making activities of the charity, the trustees have regard to the guidance of the Charity Commission on public benefit. 

## Grantmaking 

The charity has established its grant making policies to achieve its objects for the public benefit by giving particular emphasis to those applications satisfying the criteria of the prevention or relief of poverty, and relief in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage. The grant making policies are in accordance with the objects of the charity described above. 

In respect of unrestricted income funds the trustees are able to consider grant applications in accordance with the object of the charity. Written grant applications within these objects are considered for approval at the trustees meeting during the year. 

In respect of restricted income funds, as stated in the charity's scheme, income less expenses relating to Besthorpe and Girton Estate assets is apportioned 25/95 to the Charity of Bishop Thomas White for distribution to Newark Municipal Church Charities, and 70/95 to the Charity of Henry Stone for distribution to Lilley and Stone Endowment. 

The trustees always seek feedback on the actual use of the grants given and the achievements made, including those given to individuals. The explanations and feedback received are sufficient for monitoring the quality of the grants made. 

## ACHIEVEMENT AND PERFORMANCE 

Charitable activities The charity continues to provide relief to persons in need, hardship or distress through grants either directly to individuals or to organisations. 

Grants from unrestricted income funds totalling £16,630 have been made by the trustees to various organisations and individuals following the appropriate consideration and investigation of applications. Grants to individuals have been made mainly to purchase household equipment. andGrantsStonefromEndowmentrestricted £6,058incomeandfundsMagnuswere Charitypayable£3,to inNewarkaccordanceMunicipalwith theChurchschemeCharitiesdocument.in the sum of £1,383, Lilley 

Page 1 



## The Municipal General Charity 

## Report of the Trustees for the Year Ended 31 December 2020 

## FINANCIAL REVIEW 

## Financial position 

The financial position of the charity is adequately reflected in the financial statements for the year ended 31st December 2020. Funds available are sufficient to permit the charity to continue in operation and the nature and management of its investments provides a firm base for the future. At 31st December 2020, income funds stood at £42,087 (2019: £58,302) including £42,082 (2019: £58,296) of unrestricted funds. 

At 31st December 2020, endowment funds stood at £2,293,430 (2019: £1,881,201) mainly represented by investment properties and listed investments on which the charity is reliant in order to generate income. 

## Investment policy and objectives 

The trustees have considered the most appropriate policy for investing funds and have found that a diversified portfolio of property, shares, corporate bonds and government securities meet their requirements to generate both income and capital growth. 

The charity employs specialists as investment advisers and managers. They charge a fee based on the value of the portfolio. 

## Reserves policy 

The trustees have reviewed the level of unrestricted funds required to support the charity's grant making activities and to deal with any eventuality that may arise. As a result, the charity's grant making has been set at a level to preserve the amount of unrestricted funds. The policy will be reviewed annually by the trustees in the light of available distributable income. 

## Impact of COVID 19 

The operations and finances of the charity has not directly been impacted by the COVID 19 pandemic. Grants payable increased to £24,074 from £19,074 showing that the charity was still able to deliver to its beneficiaries. There was’ also an improved return on the investments in the period with investment income of £38,244 compared to £30,623 in the prior year. 

## FUTURE PLANS 

The trustees are committed to the furtherance of the object already outlined in this report. 

## STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document 

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. 

Page 2 



## The Municipal General Charity 

## Report of the Trustees for the Year Ended 31 December 2020 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Charity constitution 

The charity is an unincorporated body, constituted under a scheme dated 28th June 1895 and 28th February 2000. The charity does not actively fundraise and seeks to continue its activities through the careful stewardship of its existing resources. 

Until 28th February 2000 the charity was known as Municipal General Charities for the Poor (formerly Newark Municipal (General) Charities) and thereafter became responsible for the administration and management of several charities, these being: 

-Charities of John Lilley and Henry Stone ~Phillypot Educational Foundation 

-Charities of William Bethell, Hercules Clay, Anthony Collingwood and Bishop Thomas White. -Charity known as Chapman's charity. -Charities of John Johnson, Timothy Ellis, Isabel Marshall, Richard Lamb, George Lawrence, Lady Frances Leake, -John Martin, William Phillyot, Alderman James Dyson, Henry Hall, Thomas Summers, Emma Watson, and Frederick Duke. 

After many years of negotiations. with the charity commissioners a new charity Scheme was made on 28th February 2000. The major constitutional changes brought about by the new scheme were as follows:- 

a) The name of the charity shall in future be The Municipal. General Charity. b) There are six nominated trustees and ten co-opted trustees. 

c) Several small charities were brought under the umbrella of The Municipal General Charity including those listed above together with The Charity of Jane Heron, The Newark-upon-Trent Relief in Need Charity, The Newark Benevolent Society, The Newark Widows Fund, The Garner Charity and The Collingham Charity. d) The area of benefit of the new charity has been extended and includes the parishes of Newark, Farndon, Winthorpe, Hawton, Collingham, Coddington, Langford and Holme. 

The trustees of Farndon Relief in Need Charity agreed that this charity would also merge with The Municipal General Charity. The assets of this charity were transferred by a general vesting declaration dated 7 March 2016. 

During the year the trustess of The East and West Laughton Estate Charity also agreed to merge with The Municipal Genear| Charity.The assets of this charity were transferred by a general vesting declaration dated 2 March 2020. 

The charities mentioned above and the properties thereof are administered and managed together as one charity. 

## Recruitment and appointment of new trustees 

The trustees named on page 1 have served throughout the year. Appointment of trustees is in accordance with the governing documents of the charity. The board of trustees is authorised to appoint new trustees. to fill vacancies arising through resignation or death of an existing trustee. 

As set out in the charity scheme co-opted trustees are appointed with regard to the requirement of any specialist skills needed, 

Nominated trustees appointed by Newark & Sherwood District Council and Newark Town Council are subject. to the appointment processes of those bodies and the guidelines on appointment to public office as they apply to local government nominees. The scheme dated 28th February 2000 states that. Nottinghamshire County Council may , nominate a trustee. 

Nominated trustees are also appointed by the trustees of the Collingham Charity and the trustees of Newark Municipal Church Charities in the former borough of Newark. 

At the quarterly trustees meetings, the trustees agree the board strategy and areas of activity for the charity, including consideration of grant making, investment, reserves and risk management policies and performance. 

The induction process for any newly-appointed trustee comprises an initial meeting with the clerk to the trustees to familiarise the person appointed on investments, the grant making process and powers and responsibilities of the Trustees.A brief history of the charity and copies of annual reports and accounts, a copy of the charity scheme and a copy of the Charity Commission's guidance 'The Essential Trustee: What You Need to Know’ are also given to newly-appointed trustees. 

Page 3 



## The Municipal General Charity 

## Report of the Trustees for the Year Ended 31 December 2020 

## STRUCTURE, GOVERNANCE AND MANAGEMENT 

## Decision making 

The day to day administration of the charity is the responsibility of the clerk who reports regularly to the trustees. The activities of the charity have been administered in conjunction with those of The East and West Laughton Estate Charity (Registered Charity No. 501882). During the course of the present financial period there have been four ordinary meetings of the trustees. 

The charity is not financially dependent upon the support of any individuals, corporation, or classes of donors known to play a key role in its affairs. 

## Key management Personnel and remuneration 

The trustees consider the board of trustees and the clerk to. the trustees. as comprising the key management personnel of the charity in charge of directing and. controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. In accordance with the charity's governing document the trustees may pay the clerk to the trustees such a salary as may be approved by the charity commissioners. Details of trustee expenses and related party transactions are disclosed in the notes to the accounts. 

Trustees are required to. disclose all relevant interests and register them with the clerk to the trustees and in accordance with the charity's policy withdraw from decisions where a conflict of interest arises. 

## Risk management 

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls: are in place to provide reasonable assurance against fraud and error. The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risk. The trustees consider variability of investment returns on the permanent endowment to constitute the charity's major risk. The trustees believe that maintaining reserves at current levels will provide sufficient resources in the event of adverse conditions. 

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 217437 

Principal address 

48 Lombard Street Newark Nottinghamshire NG24 1DY 

## Trustees 

LG Aslin J Whicher V Picker : J Moore R Crowe 

M G Cope D Westmoreland | Brown 

D Hyde T S Bickley E Dalton S R Wallace M Skinner M Davies AC Roberts M Gamage (appointed 2.3.20) 

, 

Page 4 



The Municipal General Charity 

## Report of the Trustees for the Year Ended 31 December 2020 

## REFERENCE AND ADMINISTRATIVE DETAILS 

Auditors Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG 

Advisers ClerkMrs E andGamagereceiver 48 Lombard Street Newark Nottinghamshire NG24 1XP 

Investment advisers Brewin Dolphin Securities Limited Time Central Gallowgate Newcastle-upon-Tyne NE1 4SR 

## STATEMENT OF TRUSTEES' RESPONSIBILITIES 

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable: to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that. the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking redsonable steps for the prevention and detection of fraud and other irregularities. 

Approved by order of the board of trustees on 15 July 2021 and signed on its behalf by: 


**----- Start of picture text -----**<br>
J Whicher - Trustee | ,<br>**----- End of picture text -----**<br>


Page 5 



## Report of the Independent Auditors to the Trustees of The Municipal General Charity 

## Opinion 

We have audited the financial statements of The Municipal General Charity (the ‘charity’) for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, for the year then ended; 

- - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

In auditing the financial statements, we have concluded that the trustees’ use of the going concem basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## Other information 

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly. stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. if we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

## Matterson which we are required to report by exception 

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: - the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records: and returns; or - we have not received all the information and explanations we require for our audit. 

## Responsibilities of trustees 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. 

Page 6 



Report of the Independent Auditors to the Trustees of The Municipal General Charity 

Our responsibilities for the audit of the financial statements 

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

Our work is performed to include an assessment of the susceptibility of the. entity's financial statements to material misstatement, including the risk of fraud. We plan our work to gain an understanding of the significant laws and regulations. that are of significance to the entity and perform our work to ensure that the entity is complying with its legal and regulatory framework A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

## Use of our report 

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ report and for no other purpose: To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

## EV, aubed 

## Wright Vigar Limited 

Statutory Auditors 

Chartered Accountants & Business Advisers 

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 15 Newland 

Lincoln Lincolnshire LN1 1XG 

. 

15 July 2021 

Page 7 



## The Municipal General Charity 

## Statement of Financial Activities for the Year Ended 31 December 2020 

||||||2020|2019|
|---|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||fund|funds|funds|funds|funds|
||Notes|£|£|£|£|£|
|INCOMEAND ENDOWMENTS|||||||
|FROM|||||||
|Donations and legacies||-|-|390,564|390,564|9,678|
|Investment income|2|29,285|8,958|1|38,244|30,623|
|Total||29,285|8,958|390,565|428,808|40,301|
|EXPENDITURE ON|||||||
|Raising funds|3|10,176|734|5,881|16,791|5,417|
|Charitable activities|||||||
|Grants- Individuals||16,806|2,164|-|18,970|12,691|
|Grants- Institutions||6,918|6,061|-|12,979|14,249|
|Other||11,599|-|-|11,599|6,481|
|Total||45,499|8,959|5,881|60,339|38,838|
|Netgainson investments||-|-|27,545|27,545|63,304|
|NET INCOME/(EXPENDITURE)||(16,214)|(1)|412,229|396,014|64,767|
|RECONCILIATION OF FUNDS|||||||
|Total funds broughtforward||58,296|6|1,881,201|1,939,503|1,874,736|
|TOTAL FUNDS CARRIED|||||||
|FORWARD||42,082|5|2,293,430|2,335,517|1,939,503|



The notes form part of these financial statements 

Page 8 



## The Municipal General Charity 

|||Balance|Sheet||||
|---|---|---|---|---|---|---|
|||31 December 2020|||||
||||||2020|2019|
|||Unrestricted|Restricted|Endowment|Total|Total|
|||fund|funds|funds|funds|funds|
||Notes|£|£|£|£|£|
|FIXED ASSETS|||||||
|Investments|||||||
|Investments|9|46,167|-|966,343|4,012,510|1,004,158|
|Investment property|10|-|-|1,315,000|1,315,000|1,315,000|
|||46,167|-|2,281,343|2,327,510|2,319,158|
|CURRENTASSETS|||||||
|Debtors|11|3,237|184|1|3,422|6,188|
|Cash in hand||(835)|18,558|15,456|33,179|24,033|
|||2,402|18,742|15,457|36,601|30,221|
|CREDITORS|||||||
|Amounts falling due within one|||||||
|year|12|(6,487)|(18,737)|(3,370)|(28,594)|(19,311)|
|NETCURRENTASSETS||(4,085)|5|12,087|8,007|10,910|
|TOTALASSETS LESS|||||||
|CURRENT LIABILITIES||42,082|5|2,293,430|2,335,517|2,330,068|
|CREDITORS|||||||
|Amounts falling due aftermore|||||||
|than oneyear|13|-|-|-|-|(390,565)|
|NETASSETS||42,082|5|2,293,430|2,335,517|1,939,503|
|FUNDS|14||||||
|Unrestricted funds|||||42,082|58,296|
|Restricted funds|||||5|6|
|Endowment funds|||||2,293,430|1,881,201|
|TOTALFUNDS|||||2,335,517|1,939,503|



## TOTAL FUNDS 

The financial statements were approved by the Board of Trustees and authorised for issue on 15 July 2021 and were signed on its behalf by: 


**----- Start of picture text -----**<br>
J Whicher - Trustee<br>**----- End of picture text -----**<br>



**----- Start of picture text -----**<br>
MG Cope -i:<br>**----- End of picture text -----**<br>


The notes form part of these financial statements 

Page 9 



The Municipal General Charity 

1. 

Notes to the Financial Statements for the Year Ended 31 December 2020 

## ACCOUNTING POLICIES 

Basis of preparing the financial statements 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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)’, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. 

The Municipal General Charity is an unincorporated charity. The address of the principal office is given in the charity information page on page 1 of these financial statements. 

## Financial reporting standard 102 - reduced disclosure exemptions 

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as. permitted by FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’: 

* the requirements of Section 7 Statement of Cash Flows. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

Distributions from The East and West Laughton Estate Charity- in-accordance with the terms of the trust deed of The East and West Laughton Estate Charity, 84.028% of the net income is given.as a grant each year to The Municipal General Charity. The amount receivable is only known once. accounts Have been finalised for each accounting year and the appropriate proportions. calculated based on the net income of the charity. 

Income from listed investments and cash deposits is accounted for on a receivable basis. 

Rental income from investment properties is accounted for on a receivable basis. in the period to which it relates. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Raising funds The expenditure on raising funds includes all expenditure incurred by the charity to raise funds for charitable purposes. This includes fees in respect of portfolio management of listed investments, rent collection and investment property costs. 

## Charitable activities 

The expenditure on charitable activities includes grants made and an apportionment of support costs as shown in the notes to the accounts. 

Other costs 

Other costs include all costs involving the public accountability of the charity and its compliance with constitutional and statutory regulations and good practice. These costs include audit and accountancy. Allocation of support and support and and other costs Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across. the cost categories on a basis consistent with the use of these resources. 

Allocation of support and support and and other costs 

Page 10 

continued... 



The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

## 1. ACCOUNTING POLICIES - continued 

Investment property Investment property is shown at most recent valuation. Any fair value. adjustments are recognised in the Statement of Financial Activities. 

## Taxation 

The charity is exempt from tax on its charitable activities. 

## Fund accounting 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## Investments 

Investments are revalued annually and are shown in the financial statements at their year end market value. 

Income received on investments is available for distribution by the trustees in line with the objectives. of the charity and is accordingly shown as unrestricted income in the Statement of Financial Activities. 

## 2. 

## INVESTMENT INCOME 

|INVESTMENT INCOME|||||||
|---|---|---|---|---|---|---|
|||||2020||2019|
|||||£||£|
|Rents received||||21,078||21,660|
|Listed investments||||17,149||8,912|
|Cash deposits|||||17|51|
|||||38,244||30,623|
|RAISING FUNDS|||||||
||Unrestricted|Restricted|Endowment.|Totalfunds|Total funds||
||funds|funds|funds|31/12/20||31/12/19|
||£|£|£|£||£|
|Insurance|2,944|-|-|2,944||2,019|
|Investment managementfees|-|-|5,881|5,881||2,168|
|Letting agentsfees||734||734||734|
|Repairs and renewals|7,178|-|-|7,178||-|
|Sundries|54|-|-|54||496|
||10,176|734|5,881|16,791||5,417|



3. RAISING FUNDS 

4. GRANTS PAYABLE 

|||2020|2019|
|---|---|---|---|
|||£|£|
|Grants-|Individuals|14,294|9,260|
|Grants-|Institutions|9,780|10,397|
|||24,074|19,657|



Page 11 

continued... 



| } 

## The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

## 4. GRANTS PAYABLE - continued 

The total grants paid to institutions during the year was as follows: 

|4.|GRANTS PAYABLEPAYABLE - continuedcontinued<br>The total grants paid to institutions during the year wasyear waswas as follows:||||
|---|---|---|---|---|
||||2020|2019|
||||£|£|
||Newark Municipal Church Charities||1,383|2,397|
||Lilley and Stone Endowment||6,058|6,710|
||Magnus Charity<br>Think Children||3<br>-|14<br>1,176|
||Balderton Primary Care Centre||136|-|
||Farndon scouts and guides groups||300|-|
||Newark District FirstAid Responders||1,800|-|
||Institutions||100|100|
||||9,780|10,397|
||The total grants paid to individuals during the yearwas as follows:||||
||||2020|2019|
||||£|£|
||Individuals||14,294|9,260|
|5.|SUPPORT COSTS||||
||||Governance||
|||Other|costs|Totals|
|||£|£|£|
||Otherresourcesexpended|6,844|4,755|11,599|



## Allocation of support costs 

The breakdown of support costs and how these were allocated between Governance and Charitable Activities is shown in the table below. 

|||Total<br>allocated|Charitable<br>activities|Other<br>costs|
|---|---|---|---|---|
|||£|£|£|
||Clerk to the trustees fees|10,500|7,875 (75%)|2,625(25%)|
|6.|AUDITORS’ REMUNERATION||||
||||2020|2019|
||||£|£|
||Fees payable to the charity's auditors forthe audit ofthe charity's financial||||
||statements||4,755|3,700|



7. TRUSTEES’ REMUNERATION AND BENEFITS 

There were no trustees’ remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019. 

## Trustees’ expenses 

There were no trustees’ expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019. 

Page 12 

continued... 



The Municipal General Charity 

8. EXCEPTIONAL ITEMS 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

On 2 March 2020 a vesting declaration was signed by the East and West Laughton Estate Charity to agree a merger with the charity. This year a donation of £390,564 is recognised in income which is the value of the assets donated upon merger. 

9. FIXED ASSET INVESTMENTS 

|FIXED ASSET INVESTMENTS|||||||
|---|---|---|---|---|---|---|
|||||Cash and|||
|||Listed||settlements|||
|||investments||pending||Totals|
|||£|||£|£|
|MARKETVALUE|||||||
|At 1 January2020||951,042|||53,116|1,004,158|
|Additions<br>Disposals<br>Revaluations||164,487<br>(207,806)<br>35,391||186,737<br>(170,457 )<br>-||351,224<br>(378,263)<br>35,391|
|At 31 December2020||943,114|||69,396|4,012,510|
|NET BOOKVALUE|||||||
|At31December2020||943,114|||69,396|1,012,510|
|At 31 December 2019||951,042|||53,116|1,004,158|
|Asummary ofthe investments held in each fund|is detailed below:||||||
||Listed|Cash|Investment||Total||
||investments|deposits|property||31/12/20||
||£|£||£|£||
|Endowmentfund name|||||||
|The East.andWest Laughton Estate Charity|388,087|(5,891)||-|382,196||
|Besthorpe & Girton Estate|176,350|2,561|350,000||528,911||
|Chapman Charity|104|83||-|187||
|Sundry Charities (Collingwood, Duke,|||||||
|Johnson Lamb, Lawrence, Marshall and|||||||
|Thorpe)|2,510|948||-|3,458||
|Lady Jane Heron Charity|46,022|9,667||35,000|90,689||
|The Collingham Charity|7,981|481|100,000||108,462||
|Farndon Relief in Need Charity|21,690|-||55,000|76,690||
|TheGarner Charity|4,144|(127)||-|4,017||
|Newark Benevolent Society|1,391|1,104||-|2,495||
|The Newark Relief in Need Charity|1,817|177||-|1,994||
|The NewarkWidows' Fund|17,815|744||-|18,559||
|Phillypot Education Foundation|178|141||-|319||
|Wm. Phillypot Charity|275,025|13,341|775,000||1,063,366||
|Total capital endowmentfunds|943,114|23,229|1,315,000||2,281,343||
|Unrestricted funds|-|46,167||-|46,167||
||943,114|69,396|1,315,000||2,327,510||



Page 13 

continued... 



The Municipal General Charity 

10. INVESTMENT PROPERTY 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

£ 

FAIR VALUE At 1 January 2020 and 31 December 2020 1,315,000 NET BOOK VALUE At 31 December 2020 1,315,000 At 31 December 2019 1,315,000 


**----- Start of picture text -----**<br>
||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The|charity's|investment|properties|were|independently|valued|on|an|open|market|basis|subject|to|existing|
|tenancies|by|Richard|Watkinson|&|Partners,|Chartered|Surveyors,|on|27th|January|2020.|The|trustees|consider|
|the|valuations|of|the|investment|properties|at|31st|December|2020|to|be|not|materially|different|to|these|
|valuations.|
|11.|DEBTORS:|AMOUNTS|FALLING|DUE|WITHIN|ONE YEAR|
|2020|2019|
|£|£|
|Other|debtors|13|2,779|
|Arrears|of|rent|3,225|3,225|
|Prepayments|184|184|
|3,422|6,188|
|12.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|2020|2019|
|£|£|
|Trade|creditors|-|367|
|Grants|payable|20,569|10,960|
|Accrued|expenses|6,302|6,261|
|Rents|received|in|advance|1,723|1,723|
|28,594|19,311|
|13.|CREDITORS:|AMOUNTS|FALLING|DUE AFTER MORE|THAN|ONE YEAR|
|2020|2019|
|£|£|
|Amount due|to The|East|and|West|Laughton|Estate|Charity|-|390,565|

**----- End of picture text -----**<br>


Page 14 

continued... 



The Municipal General Charity 

14. MOVEMENT IN FUNDS 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Net|
|movement|At|
|At|1.1.20|in|funds|31.12.20|
|£|£|£|
|Unrestricted|funds|
|General|58,296|(16,214)|42,082|
|Restricted|funds|
|Phillypott|Educational|Foundation|4|(1)|-|
|Chapman|Charity|5|-|5|
|6|(1)|5|
|Endowment funds|
|Besthorpe|and|Girton|Estate|527,573|1,404|528,977|
|Chapman|Charity|177|9|186|
|Sundry|Charities|(Collingwood,|Duke,|
|Johnson,|Lamb,|Lawrence,|Marshall|and|
|Thorpe)|3,286|173|3,459|
|Lady Jane|Heron|Charity|90,825|(136)|90,689|
|The|Collingham|Charity|107,975|487|108,462|
|Fardon|Relief|in|Need|Charity|87,701|2,539|90,240|
|The|Garner|Charity|3,878|137|4,015|
|Newark|Benevolent|Society|2,367|130|2,497|
|The|Newark|Relief|in|Need|Charity|1,922|73|1,995|
|The|Newark Widows|Fund|17,453|1,106|18,559|
|Phillypot|Educational|Foundation|303|16|319|
|Wm.|Phillypot|Charity|1,037,741|24,094|1,061,835|
|The|East|and|West|Laughton|Estate|
|Charity|-|382,197|382,197|
|1,881,201|412,229|2,293,430|
|TOTAL FUNDS|1,939,503|396,014|2,335,517|

**----- End of picture text -----**<br>


Page 15 

continued... 



The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

## 14. MOVEMENT IN FUNDS- continued 

Net movement in funds, included in the above are as follows: 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General|29,285|(45,499)|-|(16,214)|
|Restricted|funds|
|T.White|Charity|2,357|(2,357)|-|-|
|Phillypott|Educational|Foundation|2|(3)|-|(1)|
|H|Stone|Charity|6,599|(6,599)|-|-|
|8,958|(8,959)|-|(1)|
|Endowment funds|
|Besthorpe|and|Girton|Estate|(1)|(1,206)|2,611|1,404|
|Chapman|Charity|(1)|-|10|9|
|Sundry|Charities|(Collingwood,|Duke,|
|Johnson,|Lamb,|Lawrence,|Marshall|and|
|Thorpe)|-|(3)|176|173|
|Lady Jane|Heron|Charity|-|(570)|434|(136)|
|The|Collingham|Charity|-|(18)|505|487|
|Fardon|Relief|in|Need|Charity|1|-|2,538|2,539|
|The|Garner|Charity|-|-|137|137|
|Newark|Benevolent|Society|1|(6)|135|130|
|The|Newark|Relief|in|Need|Charity|-|(1)|74|73|
|The|Newark Widows|Fund|-|(4)|1,110|1,106|
|Phillypot|Educational|Foundation|-|(1)|17|16|
|Wm.|Phillypot|Charity|4|(72)|24,165|24,094|
|The|East|and|West|Laughton|Estate|
|Charity|390,564|(4,000)|(4,367)|382,197|
|390,565|(5,881)|27,545|412,229|
|TOTAL FUNDS|428,808|(60,339)|27,545|396,014|

**----- End of picture text -----**<br>


Page 16 

continued... 



The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

## 14. MOVEMENT IN FUNDS- continued 

## Comparatives for movement in funds 

|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.19|in funds|31.12.19|
||£|£|£|
|Unrestricted funds||||
|General|54,668|3,628|58,296|
|Restricted funds||||
|Phillypott Educational Foundation|4|-|1|
|Chapman Charity|2|3|5|
||3|3|6|
|Endowmentfunds||||
|Besthorpe and Girton Estate|529,527|(1,954)|527,573|
|Chapman Charity|170|7|177|
|Sundry Charities (Collingwood, Duke,||||
|Johnson, Lamb, Lawrence, Marshall and||||
|Thorpe)|2,985|301|3,286|
|LadyJane Heron Charity|82,298|8,527|90,825|
|The Collingham Charity|116,888|(8,913)|107,975|
|Fardon Relief in Need Charity|47,523|40,178|87,701|
|TheGamer Charity|3,281|597|3,878|
|Newark Benevolent Society|2,284|83|2,367|
|The Newark Relief in Need Charity|1,871|51|4,922|
|The Newark Widows. Fund|14,989|2,464|17,453|
|Phillypot Educational Foundation|292|11|303|
|Wm. Phillypot Charity|1,017,957|19,784|1,037,741|
||1,820,065|61,136|1,881,201|
|TOTALFUNDS|1,874,736|64,767|1,939,503|



Page 17 

continued... 



ae 

‘ @ 

## The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

## 14. MOVEMENT IN FUNDS - continued 

Comparative net movement in funds, included in the above are as follows: 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Gains|and|Movement|
|resources|expended|losses|in funds|
|£|£|£|£|
|Unrestricted|funds|
|General|30,443|(26,815)|-|3,628|
|Restricted|funds|
|T.White|Charity|2,590|(2,590)|-|-|
|H.|Stone|Charity|541|(541)|-|-|
|Phillypott|Educational|Foundation|14|(14)|-|-|
|H|Stone|Charity|6,710|(6,710)|-|-|
|Chapman|Charity|3|-|-|3|
|9,858|(9,855)|-|3|
|Endowment funds|
|Besthorpe|and|Girton|Estate|-|(1,242)|(712)|(1,954)|
|Chapman|Charity|-|(2)|9|7|
|Sundry|Charities|(Collingwood,|Duke,|
|Johnson,|Lamb,|Lawrence,|Marshall|and|
|Thorpe)|-|(18)|319|301|
|Lady Jane|Heron|Charity|-|(573)|9,100|8,527|
|The Collingham|Charity|-|(15)|(8,898)|(8,913)|
|Fardon|Relief|in|Need|Charity|-|-|40,178|40,178|
|The Garner|Charity|-|(70)|667|597|
|Newark|Benevolent|Society|-|(33)|116|83|
|The|Newark|Relief|in|Need|Charity|-|(5)|56|51|
|The|Newark Widows|Fund|-|(22)|2,486|2,464|
|Phillypot|Educational|Foundation|-|(4)|15|11|
|Wm.|Phillypot|Charity|.|-|(184)|19,968|19,784|
|-|(2,168)|63,304|61,136|
|TOTAL FUNDS|40,301|(38,838)|63,304|64,767|
|Endowment funds|

**----- End of picture text -----**<br>


## Besthorpe and Girton Estate 

This is an endowment retained in the charity. Income derived from this endowment is allocated to the T White and H stone restricted funds. 

## Chapman Charity 

This is an endowment retained in the charity. Income from this endowment is allocated to unrestricted. 

## Sundry Charities 

This is an endowment retained in the charity. Income from these endowment is allocated to unrestricted. 

## Lady Jane Heron Charity 

This is an endowment brought in as part of the consolidation of charities on 28 February 2000. Income from this endowment is allocated to unrestricted. 

## The Collingham Charity 

This is an endowment brought in as part of the consolidation of charities on 28 February 2000. Income from this.endowment is allocated to unrestricted. 

Farndon Relief in Need 

Page 18 

continued... 



af 

, 

é 

## The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended 31 December 2020 

## 14, MOVEMENT IN FUNDS - continued 

This is an endowment brought into. the Charity on 7 March 2016. Income from this endowment is allocated to unrestricted. 

## The Garner Charity 

This is an endowment brought in as part of the consolidation of charities on 28 February 2000. Income from this endowment is allocated to unrestricted. 

## Newark Benevolent Society 

This is an endowment brought in as part of the consolidation of charities on 28 February 2000. Income from this endowment is allocated to unrestricted. 

## The Newark Relief in Need Charity 

This is an endowment brought in as part of the consolidation of charities on 28 February 2000. Income from this endowment is allocated to unrestricted. 

## The Newark Widows' Fund 

This is an endowment brought in as part of the consolidation of charities on 28 February 2000. Income from this endowment is allocated to unrestricted. 

## Phillypot Educational Foundation 

This is an endowment retained in the charity. Income from this endowment is allocated to restricted. 

## Wm. Phillypot Charity 

This is an endowment retained in the charity. Income from this endowment is allocated to unrestricted. 

## East.and West Laughton Estate 

This is an endowment retained in the charity. Income derived from this endowment is allocated to Municipal Church Charities and unrestricted funds. 

## Restricted funds 

## T. White Charity 

This is a restricted fund which receives a share of income from the Besthorpe and Girton Estate. This is then paid as a grant to the Municipal Church Charity. 

## H Stone Charity 

This is a restricted fund which receives a share of income from the Besthorpe and Girton Estate. This is then paid as a grant to the Lilley and Stone School Charity. 

## Chapman Charity 

This is a restricted fund which receives a share of income from Phillypot Educational Foundation. This is then paid as a grant to the Magnus Charity. 

Page 19 

continued... 



st 

id 

‘ 

## The Municipal General Charity 

## Notes to the Financial Statements - continued for the Year Ended. 31 December 2020 

. 

## 15. RELATED PARTY DISCLOSURES 

The charity's governing document states that yearly sums are payable out of the property of Besthorpe and Girton Estate to H Stone Charity for the benefit of Lilley and Stone Endowment. The trustees have no discretion in determining the proportion payable. Mrs R Crowe and Miss J Moore are Trustees of Lilley and Stone School Charity to which the Lilley and Stone Endowment relates. During the year a grant of £6,058 (2019: £6,711) was payable to. Lilley and Stone Endowment. At 31 December 2020 and amount of £12,769 (2019: £6,711) was outstanding and is included in other creditors. The charity's governing document also states that yearly sums are payable out. of the income of Phillypot Educational Foundation to The Magnus. Charity. The trustees have no discretion in determining the proportion payable. Cllr | Brown is a trustee of The Magnus Charity to whom the grant is paid. During the year a grant of £3 (2019: £14) was payable to The Magnus Charity. At 31 December 2020 and amount of £17 (2019: £14) was outstanding and is included in other creditors. The charity's governing document states that the trustees must pay a clerk and receiver such a salary as may be approved by the charity commissioners. The clerk and receiver, Mrs E Gamage, is a partner of Payne & Gamage Solicitors. During the year Payne & Gamage solicitors charged the charity an amount of £10,500 (2019; £9,710) for the clerk's services and an amount of £2,400 (2019: Enil) for other services.M Gamage, a trustee appointed during the year, is also the father of the clerk and receiver. 

Page 20 



F 

## The Municipal General Charity 

## Detailed Statement of Financial Activities for the Year Ended 31 December 2020 


**----- Start of picture text -----**<br>
|||||||
|---|---|---|---|---|---|
|2020|2019|
|£|£|
|INCOME|AND|ENDOWMENTS|
|Donations|and|legacies|
|Donations|-|9,678|
|Exceptional|items|390,564|-|
|390,564|9,678|
|Investment|income|
|Rents|received|21,078|21,660|
|Listed|investments|17,149|8,912|
|Cash|deposits|17|51|
|38,244|30,623|
|Total|incoming|resources|428,808|40,301|
|EXPENDITURE|
|Raising|donations:and|legacies|
|Insurance|2,944|2,019|
|Sundries|54|496|
|Repairs and|renewals|7,178|~|
|Letting|agents fees|734|734|
|10,910|3,249|
|Investment management|costs|
|Portfolio|management|5,881|2,168|
|Charitable|activities|
|Clerk|to the|Trustees|fees|7,875|7,283|
|Grants|to|institutions|9,780|10,397|
|Grants to|individuals|14,294|9,260|
|31,949|26,940|
|Support|costs|
|Other|
|Clerk|to|the Trustees|fees|2,625|2,427|
|Legal|and|professional|4,219|354|
|6,844|2,781|
|Governance|costs|
|Auditors"|remuneration|4,755|3,700|
|Total|resources|expended|60,339|38,838|
|Net income|before|gains and|losses|368,469|1,463|
|Realised|recognised.|gains and|losses|
|Realised|gains/(losses)|on|fixed|asset|
|investments|(7,846)|13,265|
|Net income|360,623|14,728|

**----- End of picture text -----**<br>


This page does not form part of the statutory financial statements 

Page 21