REGISTERED CHARITY NUMBER: 218560
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Norton Canon Parochial Charities
R J Francis & Co Suites 1 & 2 Marshall Business Centre Faraday Road Hereford Herefordshire HR4 9NS
Norton Canon Parochial Charities
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 10 |
| Detailed Statement of Financial Activities | 11 |
Norton Canon Parochial Charities
Report of the Trustees
for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity seeks to promote education through the provision of education grants in addition to providing general grants to those in need, the infirm and the elderly.
Significant activities
In establishing the activities to meet the above objects during this financial period, the trustees have had due regard to the guidance published by the Charity Commission on public benefit.
Achievement and performance
Payments of the educational grants and grants to the sick and elderly continue to be paid. The flat and retail property in Gloucester are both let at present. Work has been done on the property to keep it up to standard.
FINANCIAL REVIEW
Financial position
During the year the charity made a £10,362 surplus (2023: £11,816 deficit).
Reserves policy
At the end of the year total unrestricted funds, excluding revaluation reserve, amounted to £123,956 (2023: £113,594). Of the cash held on account, sufficient funds are maintained and held to meet contingency issues with the Gloucester property. Only after payment of the relevant costs and expenses, can the trustees apply the remaining income to the objects of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
New trustee are appointed by the Board. One is ex-officio and one is nominated by the Parish Council.
Organisational structure
The charity is directed by the board of 5 trustees. It is founded on several legacies, the most significant of which is a property in Gloucester. The income from the Gloucester property, after expenses, is distributed by the trustees in accordance with the charity's constitution for the provision of educational grants and general grants to those in need, the infirm and elderly.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
218560
Principal address
11 Malvern Place Bartestree Hereford HR1 4AU
Page 1
Norton Canon Parochial Charities
Report of the Trustees for the Year Ended 31 December 2024
Trustees
R H Loxton D Evans T Harrison H M Carpenter J S Loxston
Independent Examiner
R J Francis & Co Suites 1 & 2 Marshall Business Centre Faraday Road Hereford Herefordshire HR4 9NS Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ D Evans - Trustee
Page 2
Independent Examiner's Report to the Trustees of Norton Canon Parochial Charities
Independent examiner's report to the trustees of Norton Canon Parochial Charities
I report to the charity trustees on my examination of the accounts of Norton Canon Parochial Charities (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
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.
AA Houston FCA The Institute of Chartered Accountants in England and Wales
R J Francis & Co Suites 1 & 2 Marshall Business Centre Faraday Road Hereford Herefordshire HR4 9NS
Date: .............................................
Page 3
Norton Canon Parochial Charities
Statement of Financial Activities for the Year Ended 31 December 2024
| 2024 Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 24,197 Investment income 2 1,979 Total 26,176 EXPENDITURE ON Raising funds 3 15,814 NET INCOME/(EXPENDITURE) 10,362 RECONCILIATION OF FUNDS Total funds brought forward 251,537 TOTAL FUNDS CARRIED FORWARD 261,899 |
2023 Total funds £ 20,889 1,858 22,747 34,563 (11,816) 263,353 251,537 |
|---|---|
The notes form part of these financial statements
Page 4
Norton Canon Parochial Charities
Balance Sheet
31 December 2024
| 2024 Unrestricted funds Notes £ FIXED ASSETS Tangible assets 6 201,352 CURRENT ASSETS Debtors 7 1,390 Cash at bank 63,802 65,192 CREDITORS Amounts falling due within one year 8 (4,645) NET CURRENT ASSETS 60,547 TOTAL ASSETS LESS CURRENT LIABILITIES 261,899 NET ASSETS 261,899 FUNDS 9 Unrestricted funds 261,899 TOTAL FUNDS 261,899 |
2023 Total funds £ 201,352 589 54,216 54,805 (4,620) 50,185 251,537 251,537 251,537 251,537 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D Evans - Trustee
The notes form part of these financial statements
Page 5
Norton Canon Parochial Charities
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.
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 1,979 | 1,858 |
continued...
Page 6
Norton Canon Parochial Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
3. RAISING FUNDS
Raising donations and legacies
| Raising donations and legacies | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Support costs | 15,814 | 34,563 |
4. 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
Travel expenses were paid to Hannah Carpenter totalling £Nil (2023: £29.70) and to Donald Evans totalling £Nil (2023: £74). All expenses were paid in regards to travel to the Gloucester property.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|
| Unrestricted | |
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 24,197 |
| Investment income | 1,979 |
| Total | 26,176 |
| EXPENDITURE ON | |
| Raising funds | 15,814 |
| NET INCOME/(EXPENDITURE) | 10,362 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 251,537 |
| TOTAL FUNDS CARRIED FORWARD | 261,899 |
continued...
Page 7
Norton Canon Parochial Charities
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
6. TANGIBLE FIXED ASSETS
| COST At 1 January 2024 and 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Suspense account Prepayments 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 9. MOVEMENT IN FUNDS Unrestricted funds Unrestricted fund Revaluation surplus TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds Unrestricted fund TOTAL FUNDS |
At 1.1.24 £ 113,594 137,943 251,537 251,537 Incoming resources £ 26,176 26,176 |
Freehold property £ 201,352 201,352 201,352 2024 2023 £ £ 728 - 662 589 1,390 589 2024 2023 £ £ 4,645 4,620 Net movement At in funds 31.12.24 £ £ 10,362 123,956 - 137,943 10,362 261,899 10,362 261,899 Resources Movement expended in funds £ £ (15,814) 10,362 (15,814) 10,362 |
|---|---|---|
continued...
Page 8
Norton Canon Parochial Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds Unrestricted fund Revaluation surplus TOTAL FUNDS Comparative net movement in funds, included in the above are as Unrestricted funds Unrestricted fund TOTAL FUNDS |
At 1.1.23 £ 125,410 137,943 263,353 263,353 |
Net movement in funds £ (11,816) - (11,816) (11,816) |
|---|---|---|
| follows: Incoming resources £ 22,747 22,747 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Unrestricted fund Revaluation surplus TOTAL FUNDS |
At 1.1.23 £ 125,410 137,943 263,353 263,353 |
Net movement in funds £ (1,454) - (1,454) (1,454) |
At 31.12.24 £ 123,956 137,943 261,899 261,899 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted fund | 48,923 | (50,377) | (1,454) |
| TOTAL FUNDS | 48,923 | (50,377) | (1,454) |
continued...
Page 9
Page 9 continLJed...
Norton Canon Parochial Charities
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 10
Norton Canon Parochial Charities
| INCOME AND ENDOWMENTS Donations and legacies Rental income Investment income Deposit account interest Total incoming resources EXPENDITURE Support costs Management Insurance Donations Grants to individuals Christmas lunch Expenses - secretary Management charges Building repairs Accountancy fees Utilities Professional fees Total resources expended Net income/(expenditure) |
Detailed Statement of Financial Activities for the Year Ended 31 December 2024 2024 2023 £ £ 24,197 20,889 1,979 1,858 26,176 22,747 2,280 1,423 - 450 3,400 3,690 - 1,454 960 1,226 2,902 2,039 5,180 20,873 895 870 197 602 - 1,936 15,814 34,563 15,814 34,563 10,362 (11,816) |
|---|---|
This page does not form part of the statutory financial statements
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