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2024-12-31-accounts

REGISTERED CHARITY NUMBER: 217437

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Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2024
for
The Municipal General Charity
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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 2024

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

~~The Municipal General Charity~~

~~Report of the Trustees~~ for the Year Ended 31 December 2024

ees present their report with the financial statements of the charity for the year ended 31 December 2024. The have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice e to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK blic of Ireland (FRS 102) (effective 1 January 2019).

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

ees confirm that they have considered the Charity Commission's guidance on public benefit when reviewing the aims and objectives and in planning in future activities and setting the grant making policy for the year. ance of the object, the trustees have undertaken the following activities:stees actively encourage application from aid from various bodies on behalf of individuals in need. keep and maintenance of the properties in Newark and the surrounding area held for investment purposes. lar review of the charity's finances and a review of investments twice annually on formal reports and valuations charity's stockbrokers. enefit g on how to direct the grant-making activities of the charity, the trustees have regard to the guidance of the ommission on public benefit.

king

ity has established its grant making policies to achieve its objects for the public benefit by giving particular to those applications satisfying the criteria of the prevention or relief of poverty, and relief in need, by reason of e, 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.

ACHIEVEMENTS 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 £39,243 (2023 £27,381) 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. Grants from restricted income funds were payable to Newark Municipal Church Charities in the sum of £1,806 (2023 £3,072), Lilley and Stone Endowment £5,752 (2023 £4,459) and Magnus Charity £6 (2023 £6), in accordance with the scheme document.

FINANCIAL REVIEW Financial position The financial position of the charity is adequately reflected in the financial statements for the year ended 31st December 2024. 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 2024, unrestricted income funds were overdrawn by £7,929 (2023 positive funds of £9,674). At 31st December 2024, endowment funds stood at £2,673,592 (2024 £2,619,859) mainly represented by investment properties and listed investments on which the charity is reliant in order to generate income.

Page 1

~~The Municipal General Charity~~

~~Report of the Trustees~~ for the Year Ended 31 December 2024

FINANCIAL REVIEW

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.

Funds in deficit At 31 December 2024 the unrestricted funds were in deficit of £7,929. This is due to grants being made in advance of the income generated from the endowments. This has resulted in using endowment funds for unrestricted purposes. This is to be reported to the Charity Commission and the trustees are working to correct the position.

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. 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.

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

-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 Genearl 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.

Page 2

~~The Municipal General Charity~~

~~Report of the Trustees~~ for the Year Ended 31 December 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The trustees named in this report 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 pointed trustees.

making to day administration of the charity is the responsibility of the clerk who reports regularly to the trustees. The of the charity have been administered in conjunction with those of The East and West Laughton Estate Charity ed Charity No. 501882). During the course of the present financial period there have been four ordinary of the trustees. ity is not financially dependent upon the support of any individuals, corporation, or classes of donors known to y role in its affairs.

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

are required to disclose all relevant interests and register them with the clerk to the trustees and in accordance harity's policy withdraw from decisions wherea conflict of interest arises. agement ees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate re in place to provide reasonable assurance against fraud and error. The charity trustees have considered the ks to which the charity is exposed and have reviewed those risks and established systems and procedures to those risk. The trustees consider variability of investment returns on the permanent endowment to constitute the major risk. The trustees believe that maintaining reserves at current levels will provide sufficient resources in the dverse conditions.

NCE AND ADMINISTRATIVE DETAILS ed Charity number | address ard Street mshire Y

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The Municipal General Charity

Report of the Trustees for the Year Ended 31 December 2024

Trustees J Whicher J Moore M G Cope D Westmoreland I Brown M Skinner A C Roberts S Smith S Crosby G Rix (resigned 12.05.25) P Knight M Lloyd D Ledger (appointed 1.7.24) M Bayne

Auditors Wright Vigar Limited Statutory Auditors Chartered Accountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG Advisers Clerk and receiver Mrs E Gamage 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).

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they 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

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 and The Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Tho Munlcl al Goneral ChaTI Re ort of the Tn￿ta08 for the Yoar Ended 31 December 2024 Approved by order of the board of twstegs on 10 November 2025 and Signed on its behalf by.. 8r- ru5 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 for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance S notes to the financial statements, including a summary of significant accounting policies. The financial repo work that has been applied in their preparation is applicable law and United Kingdom Accounting Standa Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements: - give a true and fair view of the the state of the the charity's affairs as at 31 December 2024 an application of resources, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted - have been prepared in accordance with the requirements of the the Charities Act 2011. Basis for opinion

Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern 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.

Emphasis of matter As disclosed in note 13 to the financial statements and the trustees report, during the year the charity was in breach of charity law on the use of its funds. The matter is appropriately disclosed in note 13 and in the trustees report, and our opinion is not modified in respect of this matter.

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.

Matters on 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.

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Rè ort ofthe Inde ndent Auditors to the Trustsos of Tho Munl¢l al Genoral Chari Our responslblllllos for tho audlt of tho fin•n¢ial statoments Wa have been appointed as auditors under Section 144 of the Chaiities Act 2011 and report in accordanca wtth thè Act and ret8vant r8gul8b.ons madè or haviThJ effect thereunder. Our obje¢tiveg are to obtain reasonable assurance about whether the financial statèments as a whole are free from material mi5slatement. whether dug to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance Is a hioh 18v81 of assuranc8. but is not a guardntée that an audit conducted in accordar￿9 wlh ISAS (UK) will always detect a material misstalemenl when it exists. Misstslements can arise from fraud or 8rror and are considered material il. individually or in the aggregate, they could reasonably be expected to influance the economlc declsions of u88rs taken on tha basis of these financial ststements. The extenl to whlch our procedures are Capable ofdetecting lffegulariti￿, inthdlng fraudls detai￿￿ below.. Our wotk is perforned to Indude an assessment ol the suScep￿bl1Ify of th8 entity's financlal stat8mènts to materlal mS8Statement. Indudlng the rtsk of fraud. Owing to the inherent limilalions of an audit, there is an unavoidable rlsk that material misslalements in the finanaal stat8mants may not ba detactsd, even though tho 8udit is proporty planned and performed in accordance with the4 ISAS (UK). In identifying and assessing risk ol matsrial misstatement in r83pect ol Irrogularilies. In¢ludlng fraud and non<ompliance wlh laws and regulats'ons. our proeEdures included Ihe followng.. - We plan our work to gain an understanding of the Significant laws and regulallons that are of 8lgnllleAn¢e lo the enlity and the sector Sn which th8y oporats. We parforn our work to ensure that the enknty is comptyiThJ with It's legal and re9ulalory framework. - We obtained an understanding of how Ihe entity is complying with those legal and regulatory frameworks by maklng 8nquiri83 to the man8gement and people charged with governan￿. We assessed the susceptibility of the entity's finandal stalements, Including how fraud might occur. Audit procedures p8rformed by the engagement team induded.. - Substantive procedures perfonngd in a￿rdanCfj with the ISAS (UK). - Challonging assumptions and judgements rnade by managemenl in ifs significant accounting estimatss. Identifying and testing joumal entries, in particular material joumal entries and a88essmenl of the year end loumals. - Agsessing the extent of compliance with relevant laws and regulations. A fijrther desGription of our rosponsibihts'es for tha audit of the financial stat8men15 is located on the Financial Reporting Council's websitè al www.frc.org.uklauditor5responsibilities. This description fomis part of our Report of tho Independent Auditors. U88 of our rnport This report is made solely to thè chariwy trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2iJ)8. Our audit work has been undertaken so that W8 might slate to the charity's trustees those matters we are required to slate to them in an audito￿. report and for no other puwe. To the fullest extent pemiitted by law. we do not acc8pt or assume responsibility to anyone other than the charity and the ¢hariVs trustees as a body. for our audit work, for thls report or lor the oplnions we have fomied. Wright Vigar Llrnit8d ststutory Auditors Chartgrgd Accountants & Business Athisers 15 Nawland Llncoln Llncoln8hir8 LN1 1XG D8t8'. 10 Novemb8r 2025 Page 7

~~The Municipal General Charity~~

Statement of Financial Activities

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for the Year Ended 31 December 2024
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2024 2023
Unrestricted Restricted Endowment Total Total
fund funds funds funds funds
Notes £ £ £ £ £
INCOME AND ENDOWMENTS
FROM
Investment income 2 33,444 10,402 - 43,846 43,589
Other income 64 - - 64 64
Total 33,508 10,402 - 43,910 43,653
EXPENDITURE ON
Raising funds 3 5,070 12,044 13,283
Charitable activities 4
Grants- Individuals - 23,858 15,795
Grants- Institutions - 22,950 18,893
Other - 7,731 6,877
Total 1 5,070 66,583 54,848
Net gains on investments 58,803 58,803 56,142
NET INCOME/(EXPENDITURE) 53,733 36,130 44,947
Transfers between funds 13 - - -
Net movement in funds 53,733 36,130 44,947
RECONCILIATION OF FUNDS
Total funds brought forward 2,619,859 2,629,533 2,584,586
TOTAL FUNDS CARRIED
FORWARD 2,673,592 2,665,663 2,629,533
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Other Total

The notes form part of these financial statements

Page 8

The Munlcl l GanaTal Charf Balanca Sh8•t 31 December 2024 2024 Total funds 2023 Total funds Unrestricted Restricted fvnd fijnds Endovm)ont funds Notes FIXED ASSETS Inve8tments Inv8strn8nls Inveslmenl property 29,983 1,033.182 1,063,165 1,04g,042 1590 000 10 29.983 2,623,182 2,653,165 2.639.042 CURRENT ASSETS Doblors C8sh in hand 11 3.225 35.737) 3,225 3.809 21,440 35.710 {32.512) 35,710 51.694 54,892 25,249 CREDITORS Amounts falling du8 wlthln ono year 12 {5.400) (35.710) (1,284) (42,394) {34,758) NET CURRENT ASSETSI{LIABILITIES) 37.912) 50.410 9,509) TOTAL ASSETS LESS CURRENT LIA8IUTIES (7.929) 2.673.S92 2,665.663 2,629.533 NET ASSETS 2 873 592 2,865,663 2.629,533 FUNDS Unrèstricted funds R&strict8d funds End¢)wment funds 13 (7,929) 9,674 2,673.592 2.619,859 TOTAL FUNDS 2 665 663 2 629 533 Thè fina￿[81 $18tsments We￿ approved by the B¢)at(l of Trustees and authorlsed for issue on 10 November 2025 and were slgned on Its b8half by: r- Trustse The notes fomi part ofthese finanaal statements Page 9

~~The Municipal General Charity~~

Notes to the Financial Statements

for the Year Ended 31 December 2024

  1. 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 exemption 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 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.

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

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continued...

Notes to the Financial Statements - continued

~~The Municipal General Charity~~

for the Year Ended 31 December 2024

ACCOUNTING POLICIES - continued

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.

  1. INVESTMENT INCOME 2024 2023 £ £ Rents received 20,950 22,481 Listed investments 22,591 20,856 Deposit account interest 305 252 ~~43,846 43,589~~ 3. RAISING FUNDS Unrestricted Restricted Endowment Totalfunds Total funds funds funds funds 31/12/24 31/12/23 £ £ £ £ £ Insurance 3,767 664 - 4,431 3,875 Investment management fees - 1,551 5,298 6,849 5,897 Letting agents fees - 184 - 184 1,194 Legal fees 420 - - 420 - Repairs and renewals 12 - - 12 2,227 Sundries ~~148 - - 148 90~~ 4,347 2,399 5,298 12,044 13,283 4. CHARITABLE ACTIVITIES COSTS Grant funding of activities Direct (see note Costs 5) Totals £ £ £ Grants- Individuals - 23,858 23,858 Grants- Institutions 8,273 14,677 22,950 8,273 38,535 46,808

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continued...

~~The Municipal General Charity~~

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

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5. GRANTS PAYABLE
2024 2023
£ £
Grants- Individuals 23,858 15,795
Grants- Institutions 14,677 10,860
38,535 26,655
The total grants paid to institutions during the year was as follows:
2024 2023
£ £
Newark Municipal Church Charities 1,806 3,072
Lilley and Stone Endowment 5,752 4,229
Magnus Charity 6 6
Farndon scouts and guides groups 225 225
Conselling and Support for Young People 2,673 -
Beaumond House 3,000 3,000
Collingham youth community association 400 328
Reach Newark 815 -
14,677 10,860
The total grants paid to individuals during the year was as follows:
2024 2023
£ £
Individuals 23,858 15,795
6. SUPPORT COSTS
Governance
Other costs Totals
£ £ £
Other resources expended 2,758 4,973 7,731
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 Charitable Other
allocated activities costs
£ £ £
Clerk to the trustees fees 11,031 8,273(75%) 2,758 (25%)
7. AUDITORS' REMUNERATION
2024 2023
£ £
Fees payable to the charity's auditors for the audit of the charity's financial
statements 4,706 4,050
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continued...

Notes to the Financial Statements - continued

~~The Municipal General Charity~~

for the Year Ended 31 December 2024

TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Trustees’ expenses

There were no_ trustees' expenses paid for the year ended 3 31 December 2023.

r 2024 nor for the

  1. FIXED ASSET INVESTMENTS

MARKET VALUE At 1 January 2024 Additions Disposals Revaluations At 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023

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A summary of the investments held in each fund is detailed below:
Cost or valuation at 31 December 2024 is represented by:
Valuation in 2024
Cost
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Cash and
settlements
i pending
£
1 35,044
72,864
(74,583)
-
1 33,325
1 33,325
1 35,044
Cash and
Listed settlements
investments pending Totals
£ £ £
421,179 - 421,179
608,661 33,325 641,986
1,029,840 33,325 1,063,165
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continued...

The Munic

Notes to the Finan

ued

for the Year E

FIXED ASSET INVESTMENTS - continued

nvestment Total property 31/12/2024 £ £ Endowment fund name The East and West Laughton Estate Charity - 316,788 Besthorpe & Girton Estate 350,000 620,937 Chapman Charity - 198 Sundry Charities (Collingwood, Duke, Johnson Lamb, Lawrence, Marshall and Thorpe) - 3,726 Lady Jane Heron Charity 40,000 97,447 The Collingham Charity 100,000 109,378 Farndon Relief in Need Charity 75,000 106,068 The Garner Charity - 3,942 Newark Benevolent Society - 2,641 The Newark Relief in Need Charity - 1,554 The Newark Widows' Fund - 20,608 Phillypot Education Foundation 207 - 338 Wm. Phillypot Charity 305,797 1,025,000 1,339,557 Total capital endowment funds 1,029,840 1,590,000 2,623,182 Unrestricted funds - - 29983 1,029,840 3 1,590,000 2,653,165 INVESTMENT PROPERTY £ FAIR VALUE At 1 January 2024 and 31 December 2024 1,590,000 NET BOOK VALUE At 31 December 2024 1,590,000 At 31 December 2023 1,590,000

  1. INVESTMENT PROPERTY

FAIR VALUE At 1 January 2024 and 31 December 2024

NET BOOK VALUE At 31 December 2024 At 31 December 2023

The charity's investment properties were independently valued on an open market basis subject to existing tenancies by Richard Watkinson & Partners, Chartered Surveyors, on 16th February 2023. The trustees consider the valuations of the investment properties at 31st December 2024 to be not materially different to these valuations.

  1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Arrears of rent Prepayments

2024 2023 £ £ 3,225 3,625 ~~184~~ 3,225 3,809

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~~The Municipal General Charity~~

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Grants payable Accrued expenses Rents received in advance

2024 £ Grants payable 34,333 Accrued expenses 6,271 Rents received in advance 1,790 42,394 13. MOVEMENT IN FUNDS Transfers between At 1.1.24 funds 3 £ £ Unrestricted funds General 9,674 211 Restricted funds T.White Charity - 83 H Stone Charity - 231 East and West Laughton- for Municipal Churches ~~(525)~~ - (211) Endowment funds Besthorpe and Girton Estate 550,430 - Chapman Charity 200 - Sundry Charities (Collingwood, Duke, Johnson, Lamb, Lawrence, Marshall and Thorpe) 3,736 - Lady Jane Heron Charity 95,452 - The Collingham Charity 109,297 - 109,474 Fardon Relief in Need Charity 115,241 - 121,176 The Garner Charity 3,940 - 3,883 Newark Benevolent Society 2,658 - 2,650 The Newark Relief in Need Charity 1,627 - 1,573 The Newark Widows Fund 20,422 - 20,838 Phillypot Educational Foundation 344 - 345 Wm. Phillypot Charity 1,363,799 16 - 1,380,080 The East and West Laughton Estate Charity ~~352,713 4 - 356,836~~ 2,619,859 53 - 2,673,592 TOTAL FUNDS 2,629,533 36 - 2,665,663

During the period there was an overspend of unrestricted funds which res funds to cover the excess. This was due to an administrative error and wi The trustees are working to correct the position in the current year.

the charity using endowment orted to the Charity Commission.

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Notes to the Financial Statements - c

~~The Municipal General Charity~~

for the Year Ended 31 December

  1. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows:

Incoming Gains and M resources losses £ £ Unrestricted funds General 33,508 - Restricted funds T.White Charity 2,195 - Phillypott Educational Foundation 6 - H Stone Charity 6,147 - Chapman Charity 4 - East and West Laughton- for Municipal Churches 2,050 - 10,402 - Endowment funds Besthorpe and Girton Estate - 26,584 Chapman Charity - 1 Sundry Charities (Collingwood, Duke, Johnson, Lamb, Lawrence, Marshall and Thorpe) - 51 Lady Jane Heron Charity - 671 The Collingham Charity - 188 Fardon Relief in Need Charity - 5,935 The Garner Charity - (27) Newark Benevolent Society - 10 The Newark Relief in Need Charity - (52) The Newark Widows Fund - 427 Phillypot Educational Foundation - 1 Wm. Phillypot Charity - 16,408 16 The East and West Laughton Estate Charity ~~8,606 4~~ - 58,803 53 TOTAL FUNDS 43,910 58,803 36

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Notes to the Financial Statements - co

~~The Municipal General Charity~~

for the Year Ended 31 December 2

MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

Transfers m between At At 1.1.23 funds 31.12.23 £ £ £ Unrestricted funds General 12,128 4,905 9,674 Endowment funds Besthorpe and Girton Estate 541,335 (5,023) 550,430 Chapman Charity 193 - 200 Sundry Charities (Collingwood, Duke, Johnson, Lamb, Lawrence, Marshall and Thorpe) 3,523 - 3,736 Lady Jane Heron Charity 95,448 - 95,452 The Collingham Charity 108,566 - 109,297 Fardon Relief in Need Charity 111,201 - 115,241 The Garner Charity 4,339 - 3,940 Newark Benevolent Society 2,575 - 2,658 The Newark Relief in Need Charity 1,594 - 1,627 The Newark Widows Fund 18,775 - 20,422 Phillypot Educational Foundation 332 - 344 Wm. Phillypot Charity 1,337,451 2 - 1,363,799 The East and West Laughton Estate Charity ~~347,126 118 352,713 2,572,458 5 (4,905) 2,619,859~~ TOTAL FUNDS 2,584,586 4 - 2,629,533

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Notes to the Financial Statements - c

~~The Municipal General Charity~~

for the Year Ended 31 December

  1. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as fo

----- Start of picture text -----
Incoming Gains and M
resources losses i
£ £
Unrestricted funds
General 31,785 -
Restricted funds
T.White Charity 2,555 -
Phillypott Educational Foundation 6 -
H Stone Charity 7,155 -
Chapman Charity 3 -
East and West Laughton- for Municipal
Churches 2,149 -
11,868 -
Endowment funds
Besthorpe and Girton Estate - 14,118
Chapman Charity - 7
Sundry Charities (Collingwood, Duke,
Johnson, Lamb, Lawrence, Marshall and
Thorpe) - 220
Lady Jane Heron Charity - 487
The Collingham Charity - 737
Fardon Relief in Need Charity - 4,057
The Garner Charity - (329)
Newark Benevolent Society - 96
The Newark Relief in Need Charity - 35
The Newark Widows Fund - 1,657
Phillypot Educational Foundation - 12
Wm. Phillypot Charity - 26,451 2
The East and West Laughton Estate
Charity __ _ _ 8,594
— 56,142 a
TOTAL FUNDS 43,653 56,142 4
----- End of picture text -----

Endowment funds

~~Besthorpe and Girton Estate~~

This is an endowment retained in the charity. Income derived from and H stone restricted funds.

ment is allocated to the T White

~~Chapman Charity~~

This is an endowment retained in the charity. Income from this endo

ocated 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.

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Notes to the Financial Statements - continued

~~The Municipal General Charity~~

for the Year Ended 31 December 2024

  1. MOVEMENT IN FUNDS- continued

Farndon Relief in Need

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.

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Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

~~The Municipal General Charity~~

  1. 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 £5,752 (2023: £4,459) was payable to Lilley and Stone Endowment. At 31 December 2023 and amount of £20,601 (2023: £14,849) 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 £6 (2023: £6) was payable to The Magnus Charity. At 31 December 2023 an amount of £47 (2023: £41) 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 £11,031 (2023: £10,710) for the clerk's services and an amount of £420 (2023: Enil) for other services.

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