REGISTERED CHARITY NUMBER: 217793
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
THE SCARBOROUGH MUNICIPAL CHARITY
Fortus North Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU
THE SCARBOROUGH MUNICIPAL CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 December 2023
----- Start of picture text -----
Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 15
Detailed Statement of Financial Activities 16
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THE SCARBOROUGH MUNICIPAL CHARITY
REPORT OF THE TRUSTEES
For The Year Ended 31 December 2023
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2023.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
ThecharityhasthegeneralaimofcontributingtothequalityoflifeofthepeopleofScarborough by
providinggoodqualityaffordableaccommodation,grantsforeducationandtrainingandtoassistin the
purchaseofessentialitems.TheTrustinvitesapplicationsfromindividualswhomeettheTrust'scriteria and
details of how to apply can be obtained by contacting the Trusts main office.
Significant activities
Theprincipalactivityofthecharityisthemanagementandadministrationofcharities,forthebenefit of
almspeople,poor,agedandblindresidentsoftheBoroughofScarborough.Benefitsincludethe provision
of accommodation and grants to assist in the purchase of essential items and those in need.
Public benefit
Thetrusteesconsiderthattheyhavecompliedwiththeirdutytohavedueregardtotheguidance on
publicbenefitpublishedbytheCharityCommissioninexercisingtheirpowersandduties,ascanbe seen
in the activities and achievements above.
FINANCIAL REVIEW
Financial position
The trustees are of the opinion that the charity's financial position at the balance sheet date is satisfactory.
Therewerenomajormaintenanceorrefurbishmentprojectscarriedoutduring2023,howeverthe charity
continuedwithroutineworkstokeepthepropertiesuptoagoodstandardforitsresidents.Asaresult of
this reduced spend,. no transfer from the cyclical maintenance fund was made during the year.
Overallunrestrictedreservesincreasedby£95,371during2023.Thecharity'sinvestmentsincreasedin value
by£323,127overtheyear,whichmorethanreversedthedropduringthepreviousyearwhichwasone of
the worst years for the markets since 2008.
Thetrusteesbelievethattherearesufficientreservesforthecharitytocontinueitscharitableactivities for
the foreseeable future.
Principal funding sources
Thecharityraisesitsincomefromitsresidentsanditsinvestmentswhichallowedthecharitytomeet its
objectivesduringtheyearandtoawardgrantsof£7,000inaccordancewithitsobjectives.Atransfer of
£34,210 was also made to the extraordinary repair fund from the general fund.
Investment policy and objectives
Under the governing document the charity has the power to invest in any way the trustees wish.
Thetrustees,havingregardtotheliquidityrequirementsofoperatingthehomesandtothereserves policy,
keepavailablefundsinaninterestbearingdepositaccount,andtheinvestmentsareregularly monitored
by the trustees.
Reserves policy
Inrecentyearstherehasbeenconsiderablevolatilityinthestockmarketandasaresultthetrustees have
adoptedaprudentpolicyofmaintainingreservesataleveltomeetoneyearsrunningcostsand high
property maintenance costs.
Thereservespolicyismonitoredandreviewedannuallybythetrusteesandtheyconsiderthatthislevel will
ensure that there are sufficient funds available to cover support and governance costs.
Page 1
THE SCARBOROUGH MUNICIPAL CHARITY
REPORT OF THE TRUSTEES For The Year Ended 31 December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
TheTrustisanunincorporatedtrust,theadministrationandmanagementofwhichisinaccordance with
the provisions of the scheme approved by the Charity Commissioners on 9 August 2005.
Recruitment and appointment of new trustees
ThetrusteespreviouslyincludedthreeNominatedtrusteesappointedbyScarboroughBoroughCouncil and
theMayorofScarboroughasanex-officiotrustee.Followingthecreationofthenewcombined authority
ofNorthYorkshireCouncil,therearenowfournominatedcouncillors.Theothertrusteesare co-opted
trusteesdrawnlargelyfromthelocalbusinesscommunity.Whenconsideringco-optingtrusteesregard is
had to the requirement for any specialist skills needed and the suitability of all applicants.
Organisational structure
TheattachedaccountsincludetheresultsofallcharitiesadministeredbythetrusteesofThe Scarborough
MunicipalCharity.ThesecharitiesconsistoftheAlmshousebranchandtheReliefinNeedbranchof The
Scarborough Municipal Charity .
Induction and training of new trustees
Newtrusteesarebriefedontheirlegalobligationsundercharitylaw,thecontentoftheconstitution, the
committeeanddecisionmakingprocess,thebusinessplanandtherecentfinancialperformanceof the
charity.
Risk management
Thetrusteeshaveconsideredthemajorriskstowhichthecharityisexposedandhavereviewedthose risks
andestablishedsystemsandprocedurestomanagethoserisks.Theriskmanagementstrategy comprises
an annual review of both financial and non-financial risks to the charity.
Akeyelementofmanagingfinancialriskisthesettingofareservespolicyanditsregularreviewby the
trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
217793
Principal address
126 Falsgrave Road
Scarborough
North Yorkshire
YO12 5BE
Trustees
Mr W Chatt (Chair)
Cllr. Mrs J H Jefferson
Mr B S Pearson (Vice Chair)
Miss T Pickering
Mr M Smith
Mrs C Guest
Mrs C Robertson
Cllr. R Maw
Cllr. Mr S Sharma
Cllr. Mr E Broadbent (Ex-officio)
Page 2
THE SCARBOROUGH MUNICIPAL CHARITY
REPORT OF THE TRUSTEES For The Year Ended 31 December 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Mr P B Dixon ACA
Fortus North Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU
Approved by order of the board of trustees on 26 April 2024 and signed on its behalf by:
Mr W Chatt - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE SCARBOROUGH MUNICIPAL CHARITY
Independent examiner's report to the trustees of The Scarborough Municipal Charity
IreporttothecharitytrusteesonmyexaminationoftheaccountsofTheScarboroughMunicipal Charity
(the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under Section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust 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 applicable 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Mr P B Dixon ACA
Fortus North Limited
Business Advisors & Accountants
5&6 Manor Court
Manor Garth
Scarborough
North Yorkshire
YO11 3TU
26 April 2024
Page 4
THE SCARBOROUGH MUNICIPAL CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
For The Year Ended 31 December 2023
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM
Charitable activities
3
Scarborough Municipal
Charities
169,422
Investment income
2
61,402
Total
230,824
EXPENDITURE ON
Charitable activities
4
Scarborough Municipal
Charities
100,012
Net gains/(losses) on
investments
3,008
NET INCOME/(EXPENDITURE)
133,820
Transfers between funds
18
(38,449)
Net movement in funds
95,371
RECONCILIATION OF FUNDS
Total funds brought forward
748,546
TOTAL FUNDS CARRIED
FORWARD
843,917 |
Restricted
fund
£
-
-
-
-
280,481
280,481
37,460
317,941
2,323,124
2,641,065 |
Endowment
fund
£
-
-
-
-
39,638
39,638
989
40,627
929,334
969,961 |
2023
Total
funds
£
169,422
61,402
230,824
100,012
323,127
453,939
-
453,939
4,001,004
4,454,943 |
2022
Total
funds
£
170,313
40,470
210,783
120,792
(276,493)
(186,502)
-
(186,502)
4,187,506
4,001,004 |
|
|
|
|
|
The notes form part of these financial statements
Page 5
THE SCARBOROUGH MUNICIPAL CHARITY
BALANCE SHEET
31 December 2023
Notes
FIXED ASSETS
Tangible assets
10
Investments
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
13
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one
year
15
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS |
2023
£
197,885
3,663,435
3,861,320
4,287
678,913
683,200
(19,326)
663,874
4,525,194
(70,251)
4,454,943
843,917
2,641,065
969,961
4,454,943 |
2022
£
197,885
3,306,098
3,503,983
3,849
584,829
588,678
(20,301)
568,377
4,072,360
(71,356)
4,001,004
745,296
2,326,374
929,334
4,001,004 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon26April 2024
and were signed on its behalf by:
Mr W Chatt - Trustee
The notes form part of these financial statements
Page 6
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in
accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2015)andtheCharitiesAct2011.Thefinancialstatementshave been
preparedunderthehistoricalcostconventionwiththeexceptionofinvestmentswhichare included
at market value.
Financial reporting standard 102 - reduced disclosure exemptions
Thecharityhastakenadvantageofthefollowingdisclosureexemptioninpreparingthese financial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUK and
Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbe measured
reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
Fixtures and fittings- 20% on reducing balance
Thepropertyheldbythetrustisusedentirelyfordirectcharitablepurposes.TheCharityhas taken
advantage of FRS102 transitional relief to use a valuation as deemed cost.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretion of
the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
continued...
Page 7
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothe charity's
pensionschemearechargedtotheStatementofFinancialActivitiesintheperiodtowhich they
relate.
2. INVESTMENT INCOME
Investment income
INCOME FROM CHARITABLE ACTIVITIES
Activity
Residents fees
Scarborough Municipal Charities
CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct
activities
Costs (see
(see note
note 5)
6)
£
£
Scarborough Municipal Charities
87,882
7,000
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Stationery, postage and adverts
Repairs and renewals
Gardening
Licences and subscriptions
Sundry expenses
Warden call
Payroll costs
Bank charges
Interest payable and similar charges |
2023
£
61,402
2023
£
169,422
Support
costs (see
note 7)
£
5,130
2023
£
28,364
11,319
5,938
12,442
558
932
14,061
3,075
623
118
1,097
567
586
8,202
87,882 |
2022
£
40,470
2022
£
170,313 |
2022
£
40,470 |
|
|
Totals
£
100,012 |
|
|
|
2022
£
26,556
9,589
4,436
6,118
564
1,058
48,871
2,864
545
470
1,702
747
592
8,305 |
|
|
|
112,417 |
|
3. INCOME FROM CHARITABLE ACTIVITIES
4. CHARITABLE ACTIVITIES COSTS
5. DIRECT COSTS OF CHARITABLE ACTIVITIES
continued...
Page 8
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
6. GRANTS PAYABLE
GRANTS PAYABLE |
|
|
|
2023 |
2022 |
|
£ |
£ |
Scarborough Municipal Charities |
7,000 |
3,485 |
The total grants paid to individuals during the year was as |
|
|
follows: |
|
|
|
2023 |
2022 |
|
£ |
£ |
Various |
7,000 |
3,485 |
The total amount comprises various small grants paid to individuals. |
|
|
SUPPORT COSTS |
|
|
|
|
Governance |
|
|
costs |
|
|
£ |
Scarborough Municipal Charities |
|
5,130 |
Support costs, included in the above, are as follows: |
|
|
Governance costs |
|
|
|
2023 |
2022 |
|
Scarborough |
|
|
Municipal |
Total |
|
Charities |
activities |
|
£ |
£ |
Accountancy fees |
5,130 |
4,890 |
7. SUPPORT COSTS
8. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023nor for
the year ended 31 December 2022.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31December2023norfortheyear ended
31 December 2022.
9. STAFF COSTS
STAFF COSTS |
|
|
Wages and salaries
Other pension costs |
2023
£
27,935
429
28,364 |
2022
£
26,168
388 |
|
|
26,556 |
continued...
Page 9
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2023
9. STAFF COSTS - continued
The average monthly number of employees during the year was as follows:
Administrator
Warden |
2023
1
1
2 |
2022
1
1 |
|
|
2 |
No employees received emoluments in excess of £60,000.
10. TANGIBLE FIXED ASSETS
COST
At 1 January 2023 and
31 December 2023
DEPRECIATION
At 1 January 2023 and
31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022 |
Freehold
property
£
197,885
-
197,885
197,885 |
Fixtures
and
fittings
£
2,020
2,020
-
- |
Totals
£
199,905 |
|
|
|
2,020 |
|
|
|
197,885 |
|
|
|
197,885 |
The property held by the trust is used entirely for direct charitable purposes.
11. FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2023
Additions
Revaluations
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022 |
Unlisted
investments
£
3,306,098
34,210
323,127
3,663,435
3,663,435
3,306,098 |
|
|
There were no investment assets outside the UK.
TheinvestmentportfolioconsistssolelyofCOIFCharitiesInvestmentFundaccumulationand income
units.
continued...
Page 10
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Debtors and prepayments
13.
CASH AT BANK AND IN HAND
Cyclical
General
Maintenance
fund
fund
£
£
Cash in hand
15
-
Current account
120,949
-
Cyclical maintenance fund
-
292,480
General deposit account
265,469
-
Total
386,433
292,480
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 16)
Creditors and accruals
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Housing corporation loan
Amounts falling between one and two years:
Housing corporation loan
Amounts falling due between two and five years:
Housing corporation loan
Amounts falling due in more than five years:
Repayable by instalments:
Housing corporation loan |
2023
£
4,287
2023
Total
funds
£
15
120,949
292,480
265,469
678,913
2023
£
1,105
18,221
19,326
2023
£
70,251
2023
£
1,105
1,234
4,638
64,379 |
2022
£
3,849
2022
Total
funds
£
101
79,655
231,451
273,622 |
2022
£
3,849
2022
Total
funds
£
101
79,655
231,451
273,622 |
2022
£
3,849 |
|
|
584,829 |
|
|
|
|
|
2022
£
989
19,312 |
|
|
|
|
20,301 |
|
|
|
|
2022
£
71,356 |
|
|
|
|
2022
£
989 |
|
|
|
|
1,105 |
|
|
|
|
4,152 |
|
|
|
|
66,099 |
|
continued...
Page 11
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed assets
Investments
Current assets
Current liabilities
Long term liabilities
18.
MOVEMENT IN FUNDS |
Unrestricted
funds
£
-
178,938
683,200
(18,221)
-
843,917 |
Restricted
fund
£
-
2,641,065
-
-
-
2,641,065 |
Endowment
fund
£
197,885
843,432
-
(1,105)
(70,251)
969,961 |
2023
Total
funds
£
197,885
3,663,435
683,200
(19,326)
(70,251)
4,454,943 |
2022
Total
funds
£
197,885
3,306,098
588,678
(20,301)
(71,356)
4,001,004 |
|
|
|
|
|
|
Unrestricted funds
General fund
Cyclical Maintenance fund
Restricted funds
Extraordinary repair fund
Endowment funds
Capital accounts
TOTAL FUNDS |
At 1.1.23
£
517,095
231,451
748,546
2,323,124
929,334
4,001,004 |
Net
movement
in funds
£
122,991
10,829
133,820
280,481
39,638
453,939 |
Transfers
between
funds
£
(88,649)
50,200
(38,449)
37,460
989
- |
At
31.12.23
£
551,437
292,480 |
|
|
|
|
843,917
2,641,065
969,961 |
|
|
|
|
4,454,943 |
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Cyclical Maintenance fund
Restricted funds
Extraordinary repair fund
Endowment funds
Capital accounts
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
219,995
(100,012)
3,008
122,991
10,829
-
-
10,829
230,824
(100,012)
3,008
133,820
-
-
280,481
280,481
-
-
39,638
39,638
230,824
(100,012)
323,127
453,939 |
|
|
continued...
Page 12
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
18. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Net
movement
At 1.1.22
in funds
£
£
Unrestricted funds
General fund
488,661
101,929
Cyclical Maintenance fund
204,147
(17,596)
692,808
84,333
Restricted funds
Extraordinary repair fund
2,507,030
(211,616)
Endowment funds
Capital accounts
987,668
(59,219)
TOTAL FUNDS
4,187,506
(186,502)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
208,784
(101,197)
Cyclical Maintenance fund
1,999
(19,595)
210,783
(120,792)
Restricted funds
Extraordinary repair fund
-
-
Endowment funds
Capital accounts
-
-
TOTAL FUNDS
210,783
(120,792) |
Transfers
between
funds
£
(76,745)
44,900
(31,845)
30,960
885
-
Gains and
losses
£
(5,658)
-
(5,658)
(211,616)
(59,219)
(276,493) |
At
31.12.22
£
513,845
231,451
745,296
2,326,374
929,334
4,001,004
Movement
in funds
£
101,929
(17,596)
84,333
(211,616)
(59,219)
(186,502) |
|
|
|
continued...
Page 13
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Cyclical Maintenance fund
Restricted funds
Extraordinary repair fund
Endowment funds
Capital accounts
TOTAL FUNDS |
At 1.1.22
£
488,661
204,147
692,808
2,507,030
987,668
4,187,506 |
Net
movement
in funds
£
224,920
(6,767)
218,153
68,865
(19,581)
267,437 |
Transfers
between
funds
£
(165,394)
95,100
(70,294)
68,420
1,874
- |
At
31.12.23
£
548,187
292,480 |
|
|
|
|
840,667
2,644,315
969,961 |
|
|
|
|
4,454,943 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
Cyclical Maintenance fund
Restricted funds
Extraordinary repair fund
Endowment funds
Capital accounts
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
428,779
(201,209)
(2,650)
224,920
12,828
(19,595)
-
(6,767)
441,607
(220,804)
(2,650)
218,153
-
-
68,865
68,865
-
-
(19,581)
(19,581)
441,607
(220,804)
46,634
267,437 |
|
|
TheCyclicalMaintenanceFundisadesignatedfundtocoveritemsofrepairthatoccurover a
regularcycle.Thefundsareavailableforuseatthediscretionofthetrusteesand annual
appropriations are made to this fund as considered necessary.
TheExtraordinaryRepairFundwasestablishedtofundextraordinaryitemsofrepair expenditure,
improvementsorrebuildingofthehomes.Annualappropriationsaremadetothisfund as
considerednecessarybythetrustees.Transfersaremadefromthefundstocover exceptional
expenditure. The funds are represented by fixed asset investments.
continued...
Page 14
THE SCARBOROUGH MUNICIPAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 December 2023
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 15
THE SCARBOROUGH MUNICIPAL CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 December 2023
INCOME AND ENDOWMENTS
Investment income
Investment income
Charitable activities
Residents fees
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Rates and water
Insurance
Light and heat
Telephone
Stationery, postage and adverts
Repairs and renewals
Gardening
Licences and subscriptions
Sundry expenses
Warden call
Payroll costs
Bank charges
Loan interest
Grants to individuals
Support costs
Governance costs
Accountancy fees
Total resources expended
Net income |
2023
£
61,402
169,422
230,824
27,935
429
11,319
5,938
12,442
558
932
14,061
3,075
623
118
1,097
567
586
8,202
7,000
94,882
5,130
100,012
130,812 |
2022
£
40,470
170,313 |
|
|
210,783
26,168
388
9,589
4,436
6,118
564
1,058
48,871
2,864
545
470
1,702
747
592
8,305
3,485 |
|
|
115,902
4,890 |
|
|
120,792 |
|
|
89,991 |
This page does not form part of the statutory financial statements
Page 16