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2022-12-31-accounts

Charity registration number: 217615

Mountsorrel Relief in Need Charity

known as

Mountsorrel Community Support Fund

Annual Report and Financial Statements

for the Year Ended 31 December 2022

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Contents

Trustees' Report 1 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 to 19

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report

REFERENCE AND ADMINISTRATIVE DETAILS

Principal office:

5 Pells Close, Fleckney, Leicester, LE8 8TJ

Clerk to the Trustees:

Jane Hammond (retired 31.07.2022) Kate Scranage (from 01.08.2022) kate@mountsorrelcsf.org.uk

Bankers:

Natwest Bank plc, Hinckley Road, Leicester, LE3 0TQ.

Independent examiner:

Neil Coupland FCA DChA

RWB, Chartered Accountants, Northgate House, North Gate, New Basford, Nottingham NG7 7BQ

Investment adviser:

Brewin Dolphin Ltd, Waterfront House, 35 Station Street, Nottingham NG2 3DQ

MCSF Coordinator:

Joanna Alesbrook Telephone: 07931129360 Email: jo@mountsorrelcsf.org.uk Website: https://mountsorrelcsf.org.uk/ Facebook: https://www.facebook.com/mountsorrelcsf Twitter: @MountsorrelCSF

STRUCTURE, GOVERNANCE AND MANAGEMENT

Mountsorrel Community Support Fund is an unincorporated, registered charity in England and Wales, governed by a Charity Scheme. The charity comprises the following:

Charity Commission schemes for the above charities require their trustees to be the same as those of Mountsorrel United Charities (1027652).

Charity Commission schemes relating to the above entities are:

Page 1

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

The charities detailed above are governed by a board of up to 16 trustees (see Trustees, below). For efficiency, the business of Mountsorrel United Charities and Mountsorrel Community Support Fund is combined (and demarcated) at each trustees’ meeting. This Annual Report and Financial Statements relates to the Mountsorrel Community Support Fund only.

Day-to-day administration and bookkeeping are delegated to the Clerk. Grants administration (including liaison with applicants, receiving and processing applications, visits to applicants, grant management and reporting, liaison with suppliers and promotion of the grants available) is delegated to the Coordinator. All grant decisions are made by the board of trustees.

The Clerk and Coordinator both provide services on a self-employed basis. Their remuneration is reviewed annually by the board of trustees.

A professional investment manager is appointed to manage the investments held by the Charity of Hugh Phipps. The investment manager meets with the trustees at least annually, and provides quarterly written reports.

The charity works closely with Mountsorrel United Charities as its principal funder.

OBJECTIVES AND ACTIVITIES

Mountsorrel Relief in Need Charity

The charity makes grants to provide relief to persons resident in Mountsorrel parish who are in need, hardship or distress. Applications are accepted from individuals and organisations. The grants available are advertised within the parish, through the charity’s website, and are also promoted to agencies and organisations that might refer potential clients to the service. Grants are made for a wide range of items and services to meet specific needs and improve quality of life.

Charity of Hugh Phipps

The Charity of Hugh Phipps makes grants to individuals for the “relief of poor non-conformists” resident in the parishes of Mountsorrel, Thurcaston and Swithland. Trustees interpret "non-conformists" to be members of a protestant church that dissents from the established Church of England. Applications are received through the general application process above and, where identified as eligible for support from the Hugh Phipps charity, a grant is made from the charity’s funds.

The trustees confirm that in carrying out their activities, they have given due regard to the guidance on public benefit issued by the Charity Commission.

TRUSTEES

The governing documents require that the trustees of Mountsorrel Community Support Fund are the trustees of Mountsorrel United Charities.

The Charity Commission scheme dated 1st September 1993 for Mountsorrel United Charities stipulates that there should be sixteen trustees:

Page 2

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

●Five trustees nominated by Mountsorrel Parish Council

●1 ex-officio trustee (the Priest in Charge of the United Benefice of Mountsorrel, comprising the ecclesiastical parishes of Mountsorrel Christ Church and Mountsorrel St Peter)

The trustees who held office during the period and those in office since the year-end are listed below:

Co-opted trustees:

Nominated trustees:

Ex-officio trustee:

Appointment, induction and training of trustees

When co-opted trustee vacancies arise, these are openly advertised locally, online and offline. Vacancies for Mountsorrel Parish Council nominated trustees are discussed at meetings of the Parish Council.

When appointed, all new trustees receive an induction pack including governing documents, recent minutes and the latest annual report and accounts. New trustees are also directed to key guidance from the Charity Commission and other bodies, including guidance on the responsibilities of charity trustees. Further induction, training and support may take place in person with the Chair and others as appropriate. Trustees are encouraged to identify and express training needs and external training is facilitated as necessary.

New trustees certify that they are not excluded from acting as trustees, and complete a declaration of interests form.

The Chairman and Vice Chairman of the trustees are elected annually, at the first meeting each year, as required by the governing document of Mountsorrel United Charities.

Page 3

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

ACHIEVEMENTS AND PERFORMANCE

Strategic direction

Over the year work of the MCSF continued in line with the strategic plan adopted in September 2019, with the following vision, mission, values and objectives:

●Vision - To remove poverty, hardship and distress in Mountsorrel.

●Mission - To be a “safety net”, providing items and services to Mountsorrel residents when they are most in need.

●Values - We are empathetic, caring and considerate. We are respectful and non-judgemental.

●Objective 1 - Develop our finances and governance, increasing income and expenditure, and acting within the law.

●Objective 2 - Develop our grantmaking, ensuring we make effective grants to those most in need.

●Objective 3 - Develop our publicity, making sure we reach those most in need.

Progress against the Strategy was monitored at every meeting.

Meetings

The board of trustees met eight times in 2022. The first meeting of the year was a virtual meeting held by video conference; all subsequent meetings were held in person at the Mountsorrel Parish Rooms. The trustees received quarterly reports on income and expenditure and investment performance.

Grants to individuals

In 2022 the trustees considered 180 applications and awarded 152 grants to individuals in need (compared to 161 applications and 142 grants in 2021), amounting to £142,369 (2021 - £82,282) excluding grants to individuals made by the Charity of Hugh Phipps - see below.

Grants to organisations

The trustees awarded three grants to organisations during the year:

• £6,000 was awarded to Soar Valley Outreach (Soar Valley Community Money Advice) to enable the Financial Coach previously funded by MCSF as a pilot project to continue in employment for a further year.

• £28,714 was awarded to The Bridge to continue the YourStore shop in Mountsorrel - a social supermarket that aims to provide affordable food for families and individuals - for a further year.

• £3,000 was awarded to TwentyTwenty (Charnwood 20:20) for targeted work with disadvantaged girls.

Charity of Hugh Phipps

Total grants of £1,640 were awarded through the Hugh Phipps charity during the year (2021: £0).

The trustees took professional legal advice on the dissolution of the Hugh Phipps charity during the course of the year, but eventually decided not to proceed.

Impact

The Coordinator and trustees received unsolicited feedback from applicants throughout the year via text, voicemail, email and handwritten cards, some examples of which are shown below:

Page 4

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

• I just wanted to express my gratitude for what you did for the bus pass situation, as it came through on Saturday. It’s all set up and ready to go. With this happening it has made me less stressed and given me a clearer mind to focus on other important tasks. Many thanks.

• She was very grateful indeed for the help and is working with whoever Jo signposted to get the bus passes sorted. She said how difficult she had found things since her mum passed away and is really hopeful that this will help her and her two children to start again.

• I really appreciate this grant for my washing machine and cooker. You have made my life so much easier. Also to reiterate I would be happy to volunteer for any work that I could do.

Key developments and activities

• An equality, diversity and inclusion statement was adopted in January 2022.

• A new Clerk was recruited in May 2022 after the Clerk expressed her intention to retire. Induction and handover of the Clerk’s responsibilities took place from May to July.

• Succession planning and groundwork also took place in anticipation of the retirement of the Chair in January 2023.

• Trustees took part in Mountsorrel Revival, a community event in August, to reach out to more potential applicants and promote the grants available.

• The application process was revised from August 2022 to make it easier to identify applicants who could be considered under the Charity of Hugh Phipps.

• A trustee skills audit was conducted during the autumn, with an anticipated trustee recruitment campaign to take place in 2023.

• An easy-read guide was uploaded to the website in December to help applicants with learning disabilities to access the service.

FINANCIAL REVIEW

Financial position

The charity’s total income for the year was £246,810 (2021: £224,546).

Expenditure totalled £208,817 (2021: £149,408), resulting in a net surplus after investment loss of £37,366 (2021: £76,776)

At the year-end, the charity held total assets of £321,612 (2021: £284,246 as restated).

Page 5

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

Principal sources of funds

The charity’s principal source of income is Mountsorrel United Charities. The charity is entitled to receive one-third of the income of the Mountsorrel United Charities (after expenses) each year.

The Charity of Hugh Phipps has a small investment portfolio, which generates a small amount of income.

Investments

The following statements on investments apply to the Charity of Hugh Phipps.

The charity held investments valued at £14,444 at the year-end (2021: £15,071).

Investment managers are appointed to manage and advise on the charity’s endowed investments on a discretionary management basis.

Statutory duties

The trustees, under the Trustee Act 2000, have a statutory duty of care. It applies to:

Under the Act the trustees exercise such care and skill as is reasonable in the circumstances, having regard to:

• Any special knowledge or experience that the trustees have or claim to have. Where any trustee is acting as such in the course of a business or profession, regard must be had to any special knowledge or experience that it is reasonable to expect of a person acting in the course of that kind of business or profession

The Trustees will take proper advice unless they reasonably conclude it is unnecessary or inappropriate to do so.

They will also follow the standard investment criteria and consider:

Delegating powers

The trustees continue to delegate powers to Brewin Dolphin to manage funds on a discretionary basis.

Bank deposits

Short term bank deposits are maintained at a level to fund the day to day operations of the charity.

Reserves policy

As at 31st December 2022, the charity held free reserves of £301,804.

Page 6

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

Reserves are required to enable the charity to maintain its current activities and to meet its long term aims. It is the policy of the charity to maintain funds that are free reserves at a level that equates to approximately one year’s unrestricted management, administration and support costs. Free reserves are the part of a charity’s unrestricted funds that are freely available to spend on any of the charity’s purposes.

The trustees will keep the level of reserves in check by reviewing it alongside their quarterly review of management accounts. At the year-end, the charity held reserves in excess of its stated policy; however, the trustees are mindful of the ongoing cost of living crisis and the expected demands on funds.

In determining the target level of reserves, the trustees have reviewed the risks faced, both short and medium term, to ensure the charity can continue to operate on a going concern basis.

The reserves policy was reviewed and updated during the year.

Risk management

The trustees have examined the major strategic business and operational risks facing the charity. A Risk Register was prepared and adopted during the year, and will be reviewed annually going forward.

PLANS FOR FUTURE PERIODS

In 2023, trustees plan to:

Page 7

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Trustees' Report (continued)

Statement of Trustees' Responsibilities

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

The law applicable to charities 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 of the Charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the governing document. The trustees 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The annual report was approved by the trustees of the Charity on .................... and signed on its behalf by:

......................................... J E Ilett Chair and trustee

Page 8

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Independent Examiner's Report to the trustees of Mountsorrel Relief in Need Charity

I report to the trustees on my examination of the accounts of Mountsorrel Relief in Need Charity for the year ended 31 December 2022.

Responsibilities and basis of report

As the Charity trustees of Mountsorrel Relief in Need Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Mountsorrel Relief in Need Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. Accounting records were not kept in respect of Mountsorrel Relief in Need Charity as required by section 130 of the Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Neil Coupland FCA DChA RWB CA Limited

Northgate House North Gate New Basford Nottingham NG7 7BQ

Date:.............................

Page 9

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Statement of Financial Activities for the Year Ended 31 December 2022

Note
Income and Endowments from:
Donations and legacies
2
Investment income
3
Other income
Total income
Expenditure on:
Raising funds
4
Charitable activities
5, 6
Total expenditure
Gains/losses on investment
assets
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
(restated)
Total funds carried forward
14		 Unrestricted
funds
£
246,207
-
25
246,232
-
(206,222)
(206,222)
-
40,010
40,010
261,794
301,804		 Endowment
funds
£
-
578
-
578
(55)
(2,540)
(2,595)
(627)
(2,644)
(2,644)
22,452
19,808		 Total
2022
£
246,207
578
25
246,810
(55)
(208,762)
(208,817)
(627)
37,366
37,366
284,246
321,612		 Total
2021
£ (As restated)
223,502
519
525
224,546
(53)
(149,355)
(149,408)
1,638
76,776
76,776
207,470
284,246

All of the Charity's activities derive from continuing operations during the above two periods.

The notes on pages 12 to 19 form an integral part of these financial statements. Page 10

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

(Registration number: 217615) Balance Sheet as at 31 December 2022

Note
Fixed assets
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the Charity:
Endowment funds
Unrestricted income funds
Unrestricted funds
Total funds
14		 2022
£
14,444
67,939
283,485
351,424
(44,256)
307,168
321,612
19,808
301,804
321,612		 2021
£ (As restated)
15,071
62,153
215,264
277,417
(8,242)
269,175
284,246
22,452
261,794
284,246

The financial statements on pages 10 to 19 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

......................................... J E Ilett Chair and trustee

The notes on pages 12 to 19 form an integral part of these financial statements. Page 11

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Mountsorrel Relief in Need Charity meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Going concern

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

The charity receives 1/3 of the income of Mountsorrel United Charities, net of costs. This income is recognised when receipt is probable and the amount can be reliably measured.

Investment income

Investments are held by the Hugh Phipps Charity. The income is recognised once received.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Raising funds

These are costs incurred in the management of investments.

Charitable activities

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grant provisions

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.

Page 12

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Governance costs

These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the Charity.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Page 13

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss.

2 Income from donations and legacies

Grants and donations
Mountsorrel United Charities
3
Investment income
Other income from fixed asset investments
Other income from fixed asset investments
4
Expenditure on raising funds
Investment management costs
Total for 2022
Total for 2021 (As restated)		 Unrestricted
funds
General
£
246,207
246,207		 Total
2022
£
246,207
246,207
Endowment
funds
Permanent
£
578
578
Endowment
funds
Permanent
£
519
519
Direct costs
£
55
55
53		 Total
2021
£ (As restated)
223,502
223,502
Total
2022
£
578
578
Total
2021
£ (As restated)
519
519
Total
costs
£
55
55
53

Page 14

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

5 Expenditure on charitable activities

Grants made
Clerks fees
Coordinator's fees
Sundry expenses
Grants made
Clerks fees
Coordinator's fees
Sundry expenses		 Unrestricted
funds
General
£
181,723
7,972
13,067
4,650
207,412
Unrestricted
funds
General
£
110,082
8,634
10,645
17,802
147,163		 Total
2022
£
181,723
7,972
13,067
4,650
207,412
Total
2021
£ (As restated)
110,082
8,634
10,645
17,802
147,163

6 Analysis of governance and support costs

Governance costs

Fees paid to independent examiner
Independent examination fees
Other fees paid to independent examiners		 Unrestricted
funds
General
£
1,260
90
1,350		 Total
2022
£
1,260
90
1,350		 Total
2021
£ (As restated)
1,700
492
2,192

Page 15

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

7 Grant-making

Analysis of grants

Analysis
Age UK
Beds, Mattresses & Bedding
Charnwood Lifeline
The Bridge
Debt Relief
Decorating
Domestic Appliances
Flooring
Foot Care
Furniture
Gardening, Fencing and Ground
Clearance
MALE
Miscellaneous
Mobility Scooters and Aids
Rent, Council Tax & Utility Arrears
Soar Valley Money Advice
Electrical Wiring Services
TwentyTwenty
Clothing		 Grants to organisations
2022
£
2021
£ (As restated)
-
1,407
-
-
-
-
28,714
19,458
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
935
-
-
-
-
-
-
6,000
6,000
-
-
3,000
-
-
-
37,714
27,800		 Grants to individuals
2022
£
2021
£ (As restated)
-
-
16,284
11,949
752
968
-
-
1,310
270
20,384
3,404
21,124
16,339
37,060
13,751
2,496
1,855
9,288
4,209
11,863
19,785
-
-
11,281
4,785
6,795
2,395
4,393
2,572
-
-
452
-
-
-
527
-
144,009
82,282		 Grants to individuals
2022
£
2021
£ (As restated)
-
-
16,284
11,949
752
968
-
-
1,310
270
20,384
3,404
21,124
16,339
37,060
13,751
2,496
1,855
9,288
4,209
11,863
19,785
-
-
11,281
4,785
6,795
2,395
4,393
2,572
-
-
452
-
-
-
527
-
144,009
82,282
82,282

The support costs associated with grant-making are £Nil (31 December 2021 - £Nil).

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the Charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9 Taxation

The Charity is a registered charity and is therefore exempt from taxation.

Page 16

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

10 Fixed asset investments

Other investments
Other investments
Cost or Valuation
At 1 January 2022
Revaluation
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021
11 Debtors
Due from group undertakings
Prepayments
Other debtors
12 Cash and cash equivalents
Cash at bank		 2022
£
2021
£ (As restated)
14,444
15,071
Listed
investments
£
Total
£
15,071
15,071
(627)
(627)
14,444
14,444
14,444
14,444
15,071
15,071
2022
£
2021
£ (As restated)
4,723
4,846
646
-
62,570
57,307
67,939
62,153
2022
£
2021
£ (As restated)
283,485
215,264		 2021
£ (As restated)
15,071
14,444
14,444
15,071
2022
£
4,723
646
62,570
67,939
2022
£
283,485
62,153
2021
£ (As restated)
215,264

Page 17

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

13 Creditors: amounts falling due within one year

Grant provision
Accruals
14 Funds
Unrestricted funds
General
Endowment funds
Permanent
Total funds
Unrestricted funds
General
Endowment funds
Permanent
Total funds		 Balance at 1
January 2022
£
261,794
22,452
284,246
Balance at 1
January 2021
£ (As restated)
187,122
20,348
207,470		 Incoming
resources
£
246,232
(49)
246,183
Incoming
resources
£
224,027
2,157
226,184		 2022
£
9,484
34,771
44,255
Resources
expended
£
(206,222)
(2,595)
(208,817)
Resources
expended
£
(149,355)
(53)
(149,408)		 2021
£
-
8,242
8,242
Balance at 31
December
2022
£
301,804
19,808
321,612
Balance at 31
December
2021
£ (As restated)
261,794
22,452
284,246

Page 18

Mountsorrel Relief in Need Charity

known as Mountsorrel Community Support Fund

Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)

15 Analysis of net assets between funds

15 Analysis of net assets between funds
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
-
346,060
(44,256)
301,804		 Endowment
funds
Expendable
£
14,444
5,364
-
19,808		 Total funds at
31 December
2022
£
14,444
351,424
(44,256)
321,612

16 Related party transactions

During the year the following related party transactions occurred:

Mountsorrel United Charities

The trustees of Mountsorrel Relief in Need Charity and the Charity of Hugh Phipps are the same as for Mountsorrel United Charities.

Mountsorrel Relief in Need Charity is entitled to one third of the income received by Mountsorrel United Charities, which is paid over on a regular basis.

During the year, Mountsorrel United Charities allocated Mountsorrel Relief in Need Charity investment income of £246,207 (2021 - £223,502). At the balance sheet date the amount due from Mountsorrel United Charities was £4,723 (2021 - £4,847).

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