FETCHAM UNITED CHARITIES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Ellis Atkins Chartered Accountanls
FETCHAM UNITED CHARITIES TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31- DECEMBER 2024 The trustees submit their annual report, togeiher with the financial statements of the charity for the year ended 3 Isi December 2024. which comply with ihe current slatutory requirements of the charity's governing documenl. Reference and administralion The charity's name is Fetcham United Charities and its registered number is 226276. Trustees: Mr David Du1]1 - Chaiman until 20 September Mr Nigel Turner - Treasurer and Acting Chairnian from 20, S¢pt¢mber ?024 Cllr Tim Hall Cllr Paul Kennedy Cllr Caroline Joseph Mr Howard Taylor Mr Graham Douglas Mr Siephen Arthur Mrs Jane Arthur Resigned I" July 2024 Resigned 31, December 2024 Resigned 31, December 2024 Cllr Philip Hammond Ap)Inted I. July 2024 Principal address: l ? Links Brow Fetcham sU¢Y KT22 9DU Bankers: Barclays Bank plc Leicester LE87 2BB Structure* governance and management The charity's governing document is the Scheme of 31" December 1918 as varied by Schemes of 16, December 1927, 24 April 1936, 13, January 1939. 26, May 1959 and Th June 2018. The EK)dy of the trustees usually consists of up to eleven trustees: three nominative Irustees, three representative truslees and up to five ¢OvOPtative truslees. The trustees receive no remuneration for serving as trustee5. The charity is managed by the Committee of Managemenl which consists of all the trustees.
FETCHAM UNITED CHAIUTIES TRUSTEES. ANNUAL REPORT (continued) FOR THE YEAR ENDED 31- DECEMBER 2024 Obje¢tives and a¢livities The principal objectives of the charity are ihe management and maintenance of ihe Almshouses, comprising len residential units. and of the Reading Room in Fetcham. Oiher objectives are the prevenlion or relief of need in the area ol benefit through making gifts or Irants to appropriate charitable Organisalions and support for the apprenlicing or training of local poor young persons. During the year two donations were made to eligible local charitsble organisations. Public Benefit Slatemenl The trustees confirn) that they have referred to the guidance conlained in the Charily Commissioner's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future aclivities. The trustees are satlsfied that the charily continues to meet ihe required public benefit test throu&ih its objectives and activities. Aehlevements and performance The charity had a deficit of income over expenditure of £1 0.267 in 2024 which, after transfers to and from designated funds of £22.504. resulied in a General Fund surplus of £12,237 (2023 - deficit of £4.446). Designated reserves stand at £435.316 (2023 - £427.880). Althoubyh Reading Room income covered basic operaling costs, regular letting5 were still well below their pre-covid level and the surplus conlinued to be small. Donalions were therefore made at a reduced level from the General Fund ihat had been augimenled by Governmenl grants during the pandemic. Improvements were made to the external lighting of the hall. Morley Court income was affected by two voids during the first half of the year. There was significant cyclical maintenance expendilure on flal refurbishments. electrical inspections and rem¢dies and the instalment of new storage heaters. The trustees are satisfied with the results of the year.
FETCHAM UNITED CHARITIES TRUSTEES, ANNUAL REPORT (eontinued) FOR THE YEAR ENDED 31ST DECEMBER 2024 Financial review The charity maintains a level of income surplus such that it will be able to meet any foreseeable repairs or renewals of its assels. The level of reserves held are shown in Ihe balance sheet as £505.774 (2023 - £486.102). Reserves which are surplus lo current requirements are accumulaled to finance future improvements lo the charily's property and to fund fijiure developments. It is our p)licy to invest some of OUT fund balances in the M&G Charity Mulii Asset Fund {inlo which the National Association of Almshouses Fund was merged 2019) and through the COIF Charities Inveslment Fund. Approved by t trustees on 231L .2025 and signed on its behalf by N Turner- Trustee and Treasurer
FETCHAM UNITED CHARITIES RECEivfs AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER 2024 UNRESTRICTED GENERAL FUND 2024 2023 RECEIPTS Charitable aclivilies Almshouse Residents. contributions Maintenance Readin¥ Roorn lettings 52.684 7,050 52.286 5,767 59,734 58.053 Income from investments nterest received 466 371 Total receipts 60,200 58.424 PAYMENTS Charitable activities Water rates Council lax Insurance Electricily Gas Telephone National Association of Almshouses Maintenance of land and fences Maintenance of buildings Administration expenses Amenity expenses Loan interest Community alarni system Charitsble donations Hardship grants 937 38 1.752 1.385 i.oi I 847 236 3.676 21.129 445 786 6.527 .933 2.350 49 .782 3.00? 586 974 383 2.838 45.934 231 1,050 6.466 3.238 1,250 500 69,447 43.052 Governance costs Independent Examiner's fee 1.020 969 Total payments 70.467 44,021
FETCHAM UNITED CHARITIES RECEIPTS AI¥4D PAYMEKfs ACCOUNT (Continued) ST FOR THE YEAR ENDED 3] DECEMBER 2024 UNRESTRICTED GENERAL FUND (Continued) 2024 2023 Excess / (Deficit) of income over expenditure {10,267) 14.403 Transfers lo CM and ER designated funds Transfers from CM and Abbolsfield d¢sigFnated funds (9.500) 3?.004 (18.849) NET SURPLUS I (DEFICIT) 12.237 (4.446) General fund brought forward 58.221 62.667 General fund carried forward £70.458 £58.221
FETCHAM UNITED CHARITIES STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST DECEMBER 2024 UNRESTRicfED GENERAL FUND Notes 2024 2023 FIXED ASSETS Housing Properties Cost Less.. Housing Association Grnnt 329.971 (248.434) 329.971 (248.434) Property net book value Inveslments 81.537 348.135 81.537 319.181 429.672 400.718 CURRENT ASSETS Debtors Cash at bank and in hand 9 143.788 153.878 143.788 153.878 CREDITORS: Amount5 ftalling due within one year 1,769 1.831 IYET CURRENT ASSETS 142.019 152,047 TOTAL ASSETS LESS CURRENT LIABILITIES 571.691 552.765 CREDITORS: Amount5 falling due after more than one year: BCM Global loan io 65.917 66.663 £505,774 £486,102
FETCHAM UNITED CHARITIES STATEMENT OF ASSETS AND LIABILITIES (continued) ST AS AT 31 DECEMBER 2024 UNRESTRICTED GENERAL FUND Notes 2024 2023 CAPITAL AND RESERVES Designated reserves 435.316 427.880 General fund 12 55.587 44,030 Property account 12 14,871 14.192 TOTAL FUNDS 12 £505,774 £486.102 The accompanying notes forni part of ihese financial slalements. ThesL financial statements were approved by the committee of management on .AKTh.m..2025 and signed on its behalfby: Mr N Turner- Treasurer and Acting Chairn)an ruslee Trustee
FETCHAM UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. DECEMBER 2024 PRINCIPAL ACCOUI¥4TING POLICIES (a) Accounting basis The financial statements have been prepared on a receipts and payments basis and under the historical cost convenlion. as modified for ihe revaluation of investments, in accordance with the Charilies Act 2011. Additional notes have been provided io disclose the movements on the funds. As the charity is nol registered for Valuc Added Tax expendilure is shown inclusive of VAT. (b) Tangible fixed assets and deprecialion The cost of the freehold properties relates to improvements carried out since 1986 to ihe Almshouses and Reading Room and are included al cosl at the lime of acquisition. These properties were acquired by the trust on its forniation in 1918 and are included in the accounts al nil book value. (c) MaintenAnce conlrlbutions and direct charitable expenditure Maintenance contributions from occupiers of the properties are disc105ed in ihe accounts on a receipls basis. Charilable expendilure relales to the upkeep and maintenance of almshouses and expenses are recognised when incurred. (d) Designated reserves The cyclical repairs and mainlenance reserve represents amounls sel aside for cyclical maintenance lo meet cost5 in excess of budgeted expenditure for any year. The extrdordinary repairs fund represents amounts set aside to cary out major repairs on housing properties. 2. EMPLOYEE INFORMATION The charity had no employees in ihe years ended 3 1st December 2024 and 31 st December 2023. 3. TRUSTEES, EMOLUMENTS None of the truslees received any emoluments during the years ended 31 st December 2024 and 31 st December ?023.
FETCHAM UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31- DECEMBER 2024 4. TRUSTEES, EXPEIYSES During the current and previous year the trustees were reimbursed the cost of items they have purchased on behalf of the charity in respect of mainlenance and other activities carried out for ihe almshouses and Iheir residents and for the Reading Room. S. INDEPENDENT EXAMINER'S FEES 2024 2023 Independenl examiner's fee (including VA T) £1.020 £969 The independenl examiner's fee w&8 after a discounl of 500/0 in 2024 {2023 - 50 % ). 6. TAXATION Fetcham United Charities is a regislered charily and is. therefore. exempt from liability to taxation on ils income and capithl gains. 7. FIXED ASSETS 2024 2023 Housing Properties- Almshouses Cost At I" January 2024 and at 31" December 2024 329,972 329,972 Less- Housing Association Grnnt At I, January 2024 and at 31, December 2024 (248.434) (248.434) Net book value at 31" December 2024 £81,538 £81.538 The almshouses and reading room were acquired when ihe Irust was forn)ed in 1918 and are included al nil book value. The above details relate to improvements Caled out since 1986 which were funded by a Housing Corporation Grant of £?48.434. Th¢ balance was provided froTn the charity's own resources.
FETCHAM UNITED CHARITIES NOTES TO THE FINAIYCIAL STATEMENTS ST FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 8. IIYVESTMENTS 2024 2023 Quoted investments Market value brought forward 319.181 297,423 Additions Accumulaled income Net realise(Vunrealised gain/(loss) 3.000 11.827 14,127 3,000 11.901 6.857 Market value at 31. December 2024 £348.135 £319.181 Historical cost at 31 December 2024 £168.366 £92.101 9. CASH AT BANK AND IN HAND 2024 2023 Barclays- Business Premiurn account Barclays - Community accounl Barclays {Abboisfield) - Dep05il accounl National Savings Investmenl accounl Nalionwid¢ account Uniied Trust Bank Cash in hand 12.000 13.103 2.094 30.000 15,178 2.408 85.087 31.504 76.292 30.000 £143.788 £153,878 10. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR The BCM Global loan is secured by a charge on the charity's housing. land and buildings and bear5 interest at 9.6250/0 and is repayable in half-yearly instalment5 of £3,574 including interest over 60 years from 31" March 1989 to 31 ' December 2048. io
FETCHAM UNITED CHARITIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31%J DECEMBER 2024 (continued) 11. DESIGNATED RESERVES Cycliegl Extraordinary Abbotsfield 2024 Maintenance Repairs Amenities Total 2023 Total Balance brought forward Transfers from income and expendilure account Transfers to income and expendilure account Interest and dividends received 3.800 Increase/(decrease) in unrealised gain on investments 106,291 313.782 7.807 427,880 388,847 6.500 3.0 9.500 18.849 (31.504) (500) (32.004) 1.827 186 15.813 13.327 14.(M)S 122 14.127 6.857 Balance Caled forward £85.087 £342.614 £7.615 £435.316 £427.880 12. ANALYSIS OF NET ASSETS BETWEEN FUIYDS General Property Cy¢li¢al Exlraordinary Abbotsfield 2024 FuDd Account Mxint¢ngnce Repair5 Amenities Total Tangible fixed assets Investmenls Cash at bank Current assets Current liabilities (1.020) Long term liabililies 81.537 81.537 348.135 143.788 342.614 5.521 2.094 56.607 85.087 (749) {65.917) (1.769) (65,917) £55.587 £14.871 £85.087 £342,614 £7,615 £505,774
ellisatkins crtA51TEEO ACCOUNT ANts Independent Examiner's report to the Committee of Management of Fetcham United Charities I report to the trustees on my exarnination of the accounts of Fetcham United Charities for the year ended 31 st December 2024. Responsibililies and basis of report A5 Ihe charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe 201 l Aci). I report in respect of my examination of the Charity's accounts Caled out under section 145 of the 201 l Act and in carrying oui my exarninalion I have followed all the applicable Direclions gyiven by the Charity Commission under seeiion 145(5)(b) of the Act. Independent examiner's report I have compleled my examination. l eonfinn th4t no mal¢rial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were noi kep( in respeci of the Charity as required by section 130 of the A¢i' or 2. the accounts do not accord with those records: or 3. Ihe accounls do not comply with ihe applicable requirements concerning the forni and contenl of accounts set out in ihe Charities (Accounls and Reports) Regulations 2008 oiher than any requiremeni thai 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 acmss no other matters in conn¢clion with ihe examination to which attention should be drawn in this report in order to ¢nable a proper understanding of the a¢counts lo be reached. P D LONGSTAFF FCA PARTNER April 2025 12 T 01306810061 E inloeel1isqrkim.c w.ww.•Mts•tk•.¢Mk Constable cOlt.02 DentStyeEt.Dortiw, SwreyRH42DP Oirrttor5 of rnernbercornpani•5.. PhllipL•h95tDlf FCA jarne5BFc ICAEW CHARTERED ACCOUNfap479