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2023-12-31-accounts

Charity Registration No. 217615

MOUNTSORREL RELIEF IN NEED CHARITY

KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Benjamin Davies
Jayne Ilett
Geoffrey Wainwright
Elizabeth Blackshaw
Paul Harris
Penelope Maguire
Nicola Liquorish
Megan Pirt
Colin Resch
Elizabeth Thompson
Nicole Carr
Elaine Crossley
Emma Crossley
Michelle Hought
Charity number 217615
Clerk to the trustees Kate Scranage
Contact details kate@mountsorrelcsf.org.uk
Coordinator: Joanna Alesbrook
Email: jo@mountsorrelcsf.org.uk
Website: https://mountsorrelcsf.org.uk
Facebook: https://www.facebook.com/mountsorrelcsf
Twitter: @MountsorrelCSF
Principal address PO Box 11158
Leicester
LE8 8WH
Independent examiner Somerbys Limited
30 Nelson Street
Leicester
LE1 7BA
Bankers Natwest Bank Plc
7 Hinckley Road
Leicester
LE3 0TQ
Investment advisors Brewin Dolphin Ltd
Waterfront House
Waterfront Plaza
35 Station Street
Nottingham
NG2 3DQ

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND CONTENTS

Page
Trustees' report 1 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the accounts 11 - 19

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their report and accounts for the year ended 31 December 2023.

Structure, governance and management

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

The Charity Commission schemes for the above charities requires that the trustees for these charities are also the trustees of Mountsorrel United Charities.

Charity Commission schemes relating to the above entities are:

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 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.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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:

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

Co-opted trustees:

Nominated trustees of Mountsorrel Parish Council:

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

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

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.

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:

Progress against the strategy was monitored at every meeting.

During the year, groundwork began for a new 3-year strategy to be prepared in 2024.

Meetings

The board of trustees met eight times in 2023. All meetings were held in person at the Mountsorrel Parish Rooms. The trustees received quarterly reports on income and expenditure and investment performance.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Grants to individuals

In 2023 the trustees considered 150 applications and awarded 118 grants to individuals in need (compared to 180 applications and 152 grants in 2022), amounting to £131,228 (2022 - £142,369) 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:

Charity of Hugh Phipps

Total grants of £225 were awarded through the Hugh Phipps charity during the year (2022: £1,640).

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:

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Key developments and activities

Financial review

Financial position

The charity's total income for the year was £106,095 (2022: £246,810).

Expenditure totaled £197,436 (2022: £208,817). resulting in a net deficit after investment gains of £90,407 (2022: net surplus of £37,366).

At the year-end, the charity held total assets of £231,205 (2022: £321,612).

Principal sources of funds

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

The Charity of Hugh Phipps has a small investment portfolio, held with Brewin Dolphin, which generates some income.

Investments

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

The charity held investments valued at £14,957 at the year-end (2022: £14,444).

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

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Reserves policy

As at 31st December 2023, the charity held free reserves of £210,056.

Reserves are required to enable the charity to maintain its current activities and to meet its long term aims. Free reserves are the part of a charity’s unrestricted funds that are freely available to spend on any of the charity’s purposes.

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, together with an additional reserve to enable the charity to continue grant-making at a typical level in the event of a sudden reduction in income. The target level of reserves for grant-making purposes is approximately 6 months for individual grants and one year for organisational grants.

The trustees will keep the level of reserves in check by reviewing it alongside their quarterly review of management accounts and the cashflow report to every meeting. 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, the expected demands on funds and the likelihood of a reduced level of income from Mountsorrel United Charities in 2024.

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 is in place, and this was reviewed during the year.

Plans for the future

In 2024, trustees plan to:

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the accounts 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 requires the trustees to prepare accounts 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 year.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts 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 reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the board of trustees

..............................

Jayne Ilett Trustee Dated: .........................

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 on the accounts of the Charity for the year ended 31 December 2023, which are set out on pages 9 to 19.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

Somerbys Limited

30 Nelson Street Leicester LE1 7BA

Dated: .........................

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Endowment
funds
funds
Notes
£
£
Incoming resources from generated funds
Donations and legacies
2
105,392
-
Investment income
3
-
703
105,392
703
Other incoming resources
4
-
-
Total incoming resources
105,392
703
Resources expended
Costs of generating funds
Investment management costs
-
71
Charitable activities
Charitable Expenditure
163,972
225
Governance costs
33,168
-
Total resources expended
5 & 6
197,140
296
Net (outgoing)/incoming resources
(91,748)
407
Other recognised gains and losses
Gains/(losses) on investment assets
-
934
Net movement in funds
(91,748)
1,341
Fund balances at 1 January 2023
301,804
19,808
Fund balances at 31 December 2023
210,056
21,149		 Total
2023
£
105,392
703
106,095
-
106,095
71
164,197
33,168
197,436
(91,341)
934
(90,407)
321,612
231,205		 Total
2022
£
246,207
578
246,785
25
246,810
55
181,723
27,039
208,817
37,993
(627)
37,366
284,246
321,612

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds
13
Income funds
Unrestricted funds
14		 2023
£
5,325
240,865
246,190
(29,942)		 £
14,957
216,248
231,205
21,149
210,056
231,205		 2022
£
67,939
283,485
351,424
(44,256)		 £
14,444
307,168
321,612
19,808
301,804
321,612

The accounts were approved by the Trustees on .........................

.............................. Jayne Ilett Trustee

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity’s governing document, the Charities Act 2011 and “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 (FRS102) (effective 1 January 2019)”. The charity is a Public Benefit Entity as defined by FRS102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below, these policies have been consistently applied to all years presented unless otherwise stated.

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

The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005 and the Charities Act 2011.

1.2 Incoming resources

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.

1.3 Resources expended

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 directly to such activities and those costs of an indirect nature necessary to support them.

Raising funds

These are costs incurred in the management of investments.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

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.

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.

1.4 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 the charitable purposes.

1.5 Investments

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.

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.

1.6 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.

Endowment funds

Endowment funds are subject to specific conditions that the capital must be maintained by the Charity. The income that the capital generates is then awarded by the trustees in eligible cases following applications for grants in accordance with the criteria for the Charity of Hugh Phipps, which is a charity linked to Mountsorrel Relief in Need Charity and combined for reporting purposes.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.7 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).

2 Donations and legacies

Mountsorrel United Charities
3
Investment income
Income from fixed asset investments
4
Other incoming resources		 2023
£
105,392
2023
£
703		 2022
£
246,207
2022
£
578
Total Total
2023 2022
£ £
Other income - 25

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Total resources expended
Costs of generating funds
Investment management costs
Charitable activities
Charitable Expenditure
Grant funding
Governance costs
Clerk's fees
Coordinator's fees
Sundry expenses		 Other
costs
£
71
-
1,812
7,971
17,315
6,070
33,239		 Grant
funding
£
-
164,197
-
-
164,197		 Total
2023
£
71
164,197
1,812
7,971
17,315
6,070
197,436		 Total
2022
£
55
181,723
1,350
7,972
13,067
4,650
208,817

Governance costs includes amounts payable to the accountants of £1,740 (2022: £1,260) for independent examination fees.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Grants payable

Unrestricted Endowment
funds
funds
£
£
Grants to institutions:
Soar Valley Money Advice
9,000
-
John Storer Charnwood - Your Store (previously The
Bridge)
18,744
-
Love4Life (previously TwentyTwenty)
5,000
-
32,744
-
Grants to individuals:
Beds, Mattresses & Bedding
13,599
-
Charnwood Lifeline
157
225
Clothing
1,401
-
Debt Relief
180
-
Decorating
3,774
-
Domestic Appliances
32,844
-
Electrical Wiring
1,244
-
Flooring
25,627
-
Foot Care
675
-
Furniture
5,449
-
Gardening, Fencing & Ground Clearance
10,411
-
Miscellaneous
16,474
-
Mobility Scooters & Aids
17,178
-
Rent, Council Tax & Utility Arrears
2,215
-
131,228
225
Total Grants
163,972
225		 Total
2023
£
9,000
18,744
5,000
32,744
13,599
382
1,401
180
3,774
32,844
1,244
25,627
675
5,449
10,411
16,474
17,178
2,215
131,453
164,197		 Total
2022
£
6,000
28,714
3,000
37,714
16,284
752
527
1,310
20,384
21,124
452
37,060
2,496
9,288
11,863
11,281
6,795
4,393
144,009
181,723

7 Trustees

No trustees (or any persons connected with them) received any remuneration during the current and prior year.

No Trustees have received any reimbursed expenses or any other benefits from the charity during the current and prior year.

8 Employees

There were no employees during the year.

9 Taxation

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

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Fixed asset investments

Market value at 1 January 2023
Disposals at opening book value
Acquisitions at cost
Change in value in the year
Market value at 31 December 2023
Historical cost:
At 31 December 2023
At 31 December 2022		 £
14,444
(3,812)
4,262
63
14,957
12,734
12,284
11
Debtors
Amounts owed by connected undertakings
Other debtors
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Grant provision
Accruals		 2023
£
4,759
555
11
5,325
2023
£
1,627
28,315
29,942		 2022
£
4,723
62,570
646
67,939
2022
£
9,484
34,772
44,256

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

13 Endowment funds

Endowment funds
Movement in funds
Balance at 1 Incoming Resources Balance at 31
January resources expended December
2023 2023
£ £ £ £
Permanent 19,808 1,637 (296) 21,149
19,808 1,637 (296) 21,149
Balance at 1 Incoming Resources Balance at 31
January resources expended December
2022 2022
Permanent 22,452 (49) (2,595) 19,808
22,452 (49) (2,595) 19,808

Charity of Hugh Phipps

The Permanent Endowment fund comprises of the assets held for the Charity of Hugh Phipps that is a charity linked to Mountsorrel Relief in Need and is combined for reporting purposes. The capital element of the Permanent Endowment fund is not expendable and is used to generate income that can then be awarded as grants to inividuals for the "relief of poor-non conformists", as set out in the Trustees' report.

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

14 Unrestricted funds

Movement Movement in funds
Balance at 1 Incoming Resources Balance at 31
January resources expended December 2023
2023
£ £ £ £
General 301,804 105,392 (197,140) 210,056
(301,804) 105,392 (197,140) 210,056
Balance at 1 Incoming Resources Balance at 31
January resources expended December 2022
2022
£ £ £ £
General 261,794 246,232 (206,222) 301,804
261,794 246,232 (206,222) 301,804
15 Analysis of net assets between funds
Unrestricted Endowment Total
Funds Funds
£ £ £
Fund balances at 31 December 2023 are represented by:
Investments - 14,957 14,957
Current assets 239,998 6,192 246,190
Creditors: amounts falling due within one year (29,942) - (29,942)
210,056 21,149 231,205
Unrealised gains included above:
On investments - 63 63
- 63 63
Reconciliation of movements in unrealised gains
Net gains on revaluations in year - 63 63
Unrealised gains at 31 December 2023 - 63 63

MOUNTSORREL RELIEF IN NEED CHARITY KNOWN AS MOUNTSORREL COMMUNITY SUPPORT FUND NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

16 Related parties

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 £105,392 (2022: £246,207). At the balance sheet date the amount due from Mountsorrel United Charities was £4,759 (2022: £4,723).

MOUNTSORREL RELIEF IN NEED CHARITY AND CHARITY OF HUGH PHIPPS DETAILED SOFA

YEAR ENDED 31st DECEMBER 2023

Income and Endowments
Investment Income
Income from fixed asset investments
Donations
Grants and donations
Other Income
Bank Compensation
Donation towards equipment
Total Incoming Resources
Charitable Expenditure
Charitable activities
Grants Payable
Support Costs - Clerk's Fees
Support Costs - Co-ordinator's Fees
General Expenses
Cost of Fund Raising
General Expenses
Governance costs
Xero Fees
Examiners Fees
Total Resources Expended
Net Incoming/(Outgoing) Resources
Gain/(loss) on investment asset
Net Movement in Funds
Prior year adjustment on Hugh Phipps investment
Balance at 1st January 2023
Balance at 31st December 2023		 Relief in
Need Fund
£
-
105,392
105,392
-
-
-
105,392
163,972
7,971
17,315
6,070
195,328
-
-
72
1,740
1,812
197,140
(91,748)
-
(91,748)
-
301,804
210,056		 Hugh
Phipps Fund
£
703
-
703
-
-
-
703
225
-
-
-
225
71
71
-
-
-
296
407
934
1,341
-
19,808
21,149
2023		 Total
£
703
105,392
106,095
-
-
-
106,095
164,197
7,971
17,315
6,070
195,553
71
71
72
1,740
1,812
197,436
(91,341)
934
(90,407)
-
321,612
231,205		 Relief in
Need Fund
£
-
246,207
246,207
-
25
25
246,232
180,083
7,972
13,067
3,750
204,872
-
-
90
1,260
1,350
206,222
40,010
-
40,010
-
261,794
301,804		 Hugh
Phipps Fund
£
578
-
578
-
-
-
578
1,640
-
-
900
2,540
55
55
-
-
-
2,595
(2,017)
(627)
(2,644)
-
22,452
19,808
2022		 Total
£
578
246,207
246,785
-
25
25
246,810
181,723
7,972
13,067
4,650
207,412
55
55
90
1,260
1,350
208,817
37,993
(627)
37,366
-
284,246
321,612

Page 19