Charity reglstration num. 225627 The Bolitho Madron Charity Annual Report and Flnanclal ststements for the Year Ended 31 Dember 2022
The Bolitho Madron Charity Contents Referen and AdmInIstrate Detalls Trustee5' Report 2to4 Independent Examlnerfs Repori ReIptS & Payment Account statement of Assets & Liabilities Note5 to the Flnancial Statements 8tolO Recelpts & Payments Account ~ Landlthy Hall li Recelpts & Payment Account - Cottages 12
The Bolitho Madron Charity Reference and Administrative Details Trustees Mr Michael Scoble Mr Russell Whitlock Colonel Edward Bolltho OBE Mrs Alexandra 8olltho Charlty Registration Number 225627 Prlnclpal Offlce Landlthy Hall Madron Penzance Cornwall Independent Examlner Nell Hallam FCCA Crane & Johnston Chartered Certifled Accountants 11 Alverti)n Terra Penzan Cornwall TR18 4JH Page I
The Bolitho Madron Charity Trustees. Report The trustee5 present the annual report together wlth the financial statements of the charlty for the year ended 31 Dember 2022, Objectives and activitie5 Objects andalms The provislon and maintenance of one or more village halls for use by the Inhabitants of the area of beneflt ~ the parlsh of Madron and the surroundlng nelghbourhood wlthout dlstlnrtlon of pollucal, rellgious or other oplnlons. The provlslon and MaIntenan of a memorlal garden for the beneflt of the Inhabltants of the area of beneflt wlth the object of improvlng the conditions of Ilfe for such persons, The day to day runnlng of the charity Is carrled out by a board of management made up of local residents, who report to the Trustees. One of the cottages that makes up the Charlty Is Ilved In by the Caretaker, who looks after the Hall, Income for the upkeep and the Improvement or the buildlngs is generalty derived from a number of sources: The small amounl of Invested capital -Income from lettlng the Hall and other bulldlngs ,Income from rent of the cottages Grants from a varlety of sources The buildlngs are used by a wlde variety of organisatlons and private Indlvlduals, from weddlng receptions and a varlety of partles, by way of meetlngs of such organlsatlons as the Women's Institute, theatre groups and keep flt classes, to the Parlsh Councll and Its use as a polllng statlon. The charlty Is reg15tered wlth the Charlty Commlssloners and Is governed by a scheme dated 10 August 2000. Th15 merged and replaced four orlglnal charitles: The Thoma5 Robins Bolitho Memorial Fund (230818) The Thomas Slmon Bolitho Institute (230819) The Landlthy Hall (225627) The War Memorial Ground Charity {230820) Publicbenefit The board of management have consldered the Commission's guidan on publlc benefit and contlnue to ensure the facllities of Landithy Hall are available to everyone. They are happy that the charlty's oblectlves are focused at ensurlng that the vlllage hall is benefiting the irlhabitants of the area of the parish of Madron and Its surrounding nelghbourhood, The trustees conflrm that they have complled with the requlrements of sectlon 17 of the Charltles Act 2011 to have due regard to the public benefit gUIdan published by the Charity Commission for England and Wale5. Page 2
The Bolitho Madron Charity Trustees, Report (continued) Achievements and performance The Charity's incorrE now enables it to malntaln both the Hall and the three cottages in reasonable order, a situation that should continue until major repalrs are agaln required. At present the Hall is in excellent condition, providing a fine facillty of g¥eat character and much benefit to Madron. Financlal review During the year, the charlty continued to deliver Its serv15 followlng the previou5 years limited basis due to the orwing COVID-19 pandemic. Tota5 reIpts decreased by £25,983 from É61,241 to £35,258 malnly due to the decrease In the governments grant SUPFth related to the pandemlc In the prior year. Total payments increased by £2,064 fmm £27,074 to £29,138. Overall resu115 for the year was a cash surplus of £6,120 compared to £34,167 In the prior year and this resulted in cash funts increaslng from £54,608 to £60,728. Pollcyon reserves The Trustees have examlned the chariivs requirements for reseNes In Ilght on the maln rLsks to the organisation. The Trustees conslder that the cash funds at the year end of £60,728 are sufflclent to sustaln the operations of the charity over the next twelve months. Page 3
The Bolitho Madron Charlty Trustees, Report (continued) statement of Trustees. Responslbllltles The L'rustees are responslble for preparing the t'rusLees' report and the flnanclal statements In accordan with the Unlted l<lngdom Accountlng Standards {UniLed Kingdom Generally Accepted Accountlng Practlce} and applkable law and regulattons. The law appllcable to tharlLles requlres L'l)e I'rustees to prepare flnanclal stalEments for each flnanclal year whlch glve a true and fair vlew of L'he sL'ate of affalrs of the charlty and of the Incomlng resources and appllcatioii of resources of the chartty for I'haL' perlLxl. In preparlng these flnancial 5tatemellts, the trLlStees are IEqulred to,, select su5table accountlng pollcles and then apply Ihein conslsl'enL4yi obseNe the methods and prlnclples In the Ch8rltle5 SORP; make judgements and estlmates that are reasonable and prudent. stste whether applicable accountli)g standards have been followed, subject to any mal'erlal depaitures dlsdosed and explalned In tsie finandal statements. and prepare the f(nanciel sLatemeiits on the golng conrn basis unless It Is InappK)prkLE to presume thal, the cha¥lty wlll contlnue In biislness. The trustees are responsible for keeplng proper accountlng records that disclose wlth reasonable accuracy al. any tlme the financial p05ilion of the charlly and enablo them to ensure that the fti)ancial statement5 comply wlth I'he a)arltles Act 2011, the Charities (Accounts and Reports) Regulatlons 2008, and the provislons of the constltutbn. The truslees are also rosponslble for safeyuarding I'he assets of I'he cl)arliy and her for taklng reasonable steps for the preventlon and delecLlon of fraud and other Irregularllles. The trusl'ees are responslble for the malntenance ancl Integrfty of tkE corporate and flnanclal Information Included on the cliaAtable compaiiy's website, Leg151atlon governlng the preparatlon and dlssemlnatlon of flnanclal statements may differ from legislaL'ion in other lurlsdlctlons. The annual repjrt wa5 approved by the Iriistee5 of the charlty on behalf by: and sIgd on I J.L,..h...L..k.b. Mr Russell Whitlock Trustee Page 4
The Bolitho Madron Charity Independent Examiner's Report to the trustees of The Bolitho Madron Charity I report to the trustees on my examlnatlon of the accounts of The Bolllho Madron Charlty for the year ended 31 December 2022. Responslbllltles and basls of report As the charity trustees of The Bolltho Madron Charlty you are responslble for the preparatlon of the accounts In accordance wlth the requlrements of the Charltles Act 2011 ('the Act,). I report In respect of my examination of the The Bolltho Madron Charlty'5 accounts carrled out under sectlon 145 of the 2011 Act and sn carrying out my examlnation I have followed all the applicable Directions given by the Charity Commlsslon under sertlon 145{5)(b} of the Act. Independent examlner's statement I have completed my examination. I conflrm that no material matters have come to my attention In connectlon wlth the examlnatlon glvlng me cause to belleve that In any materia5 respect,. l. accounting records were not kept in respect of The Bolltho Madron Charlty as requlred by sectlon 130 of the Act; or 2. the accoijnts (b not accord with those records,. or I have no corKern5 and have come across no other matters in connection wlth the eXamInat)n to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Nell Hallam FCCA Crane & Johnsto Chartered Certifled Accountants 11 Alverton Terra Penzance Cornwall TR18 4JH Page 5
The Bolitho Madron Charity Receipts & Payment Account for the Year Ended 31 December 2022 Total 2022 Total 2021 UnYestri¢ted Recelpts: Grants Rental Income 5,334 5,334 36,517 Total Receipts Payments: Charitable actlvltles Asset Purchases (28,650) 488 (28,650) 488 (27,074) Total Payments Net reiptS I (payments) Reconciliation of cash funds 6,120 6,120 34,167 Total cash fulS brought forward Total cash furKls carrled fOard Page 6
The Bolitho Madron Charity (Registratlon number: 225627) Statement of Assets & Liabilities as at 31 December 2022 2022 2021 Note Cash Funds Cash at bank and In hand Fixed assets & Investments Tanglble assets Investments 683,233 6L13,727 705 833 707 566 )e flnanclal statements were appi'oved by the trustees, and authorlsed for Issue on and lied on tlidr behalf by,, 12 Mr el Scoble ERu55ell WhlUoek- Page 7
The Bolitho Madron Charity Notes to the Financial Statements for the Year Ended 31 December 2022 l Accounting policie5 statement of compllance The financial statements have been prepared in accordance wlth the second edltlon of the Charities statement of Recommended Pract[ issued In October 2019, the Flnancial Reporting Standard applicable In the Unlted Kingdom and Republlc of Ireland (FRS 102) and the Charlties Act 2011. Basis of preparatlon The accounts have been prepared on the reIpts and payments basls. The Bolitho Madron Charlty meets the deflnltlon of a public benefit entlty under FRS 102. The accounts (financial statements) have been prepared under the historlcal cost convention with items recognised at cost or transaction value unless otheNise stated in the relevant note{s) to these accounts, ReIPtS ReIpts are the total amounts recelved by the charity for goo(Ss and ServIS provKted to the public. Any donations and covenants have been included in the accounts when reIved, Payments Expendlture Is Included on a pald basls, Includlng any VAT which cannot be recovered, Investments InVeStn5 are Included at market value at the statement of assets and Ilabllltles date. Unrealised galns / losses and Interest recelved (whlch Is relnvested In shares) represent the movement In openlng and c105ing market valuès. Cash and cash equlvalents Cash and cash equlvalents comprlse cash on hand and call deposits, and other short-term highly Ilquld Investments that are readlly convertlble to a known amount of cash and are subject to an Inslgnlflcant r15k of change In value. 2 Trustees remuneratlon and expenses No trustees, nor any persons connected wlth them, have recelved any remuneratlon from the charlty durlng the year. No trustees have received any relmbursed expenses or any other benefits from the charlty durlng the year. 3 Staff costs The aggregate payroll costs were as follows: Page 8
The Bolitho Madron Charity Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) 2022 2021 staff costs durlng the year were: Wages and salarles The monthly average number of persons employed by the charity during the year expressed as full time equlvalents was as follows., 2022 No 2021 No Employees No employee received emoluments of more than £60,000 durlng the year Page 9
The Bolitho Madron Charitv Notes to the Financial Statements for the Year Ended 31 December 2022 (continued) 4 Taxation The charlty is a reglstered charlty and is therefore exempt from tsxatlon. 5 Tangible fixed assets Furniture and equipment Land and buildings Total Cost At l January 2022 AddltlDll5 Disposals 693,476 22,742 488 405 716,218 488 405 At 31 December 2022 693 476 716 301 Depreclatlon At l January 2022 Charge for the year Eliminated on disposals At 31 December 2022 12,075 467 20,416 406 295 32,491 873 295 Net Ix)ok value At 31 December 2022 683 232 At 31 December 2021 681401 683 727 6 Investments 2022 2021 Market Valuation Newton Global Growth & Income Fund Movement: At l January 2022 Revaluation galn/loss 23,839 At 31 Dmber 2022 Page 10
The Bolitho Madron Charity Receipts & Payments Account- Landithy Hall Total 2022 Total 2021 Grants Grants RentalIncon Rental income Chan"table actlvlties Wages and salaries Rates Llght, heat and power Insuran Repairs and maintenance Admln expenses Trade Subscriptions Gainlloss on Investments Advert151ng Accountancy fees (9,163) (387) (2,871) (2,425) (1,773) (750) {254) (8,542) (225) (485) (2,262) (5,840) (860) 3,240 (20) (20) 930 Page 11
The Bolitho Madron Charity Receipts & Payments Account - Cottages Total 2022 Total 2021 Rentallncome Rental Income Charltable artivities Repairs and maintenance Agents Commi551on (7,162) (7,959) AssetPurdiases Asset purchases 488 488 Page 12