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2024-04-30-accounts
|
Pages |
| Reference and Administrative Details of the Charity, its Trustees and Advisers |
1 |
| Chairman's Statement |
2-3 |
| Trustees’Report |
4-7 |
| Independent Auditor's Report on the Financial Statements |
8-11 |
| Statement of Financial Activities |
12 |
| Balance Sheet |
13 |
| Notes to the Financial Statements |
14 - 25 |
| T rustees |
Simon Bird, Chair |
|
Jane Spring, Trustee |
|
Diane Cook, Trustee |
|
Sara Michell, Trustee |
|
Anthony Holliday, Trustee (Resigned 10 September 2024) |
|
Jacqueline Forsyth, Trustee |
|
David Goodin, Trustee |
| Charity registered |
|
| number |
228590 |
| Principal office |
1 St James Court |
|
Whitefriars |
|
Norwich |
|
NR31RU |
| Website |
www.kernson org uk |
| Independent auditor |
Sumer Auditco Limited |
|
Statutory Auditor |
|
Fitzroy House |
|
Crown Street |
|
Ipswich |
|
Suffolk |
|
IP1 3LG |
| Solicitors |
Mills and Reeve |
|
1 St James Court |
|
Whitefriars |
|
Norwich |
|
NR31RU |
| Investment manager |
Rathbone Investment Management Ltd |
|
8 Finsbury Circus |
|
London |
|
EC2M 7AZ |
|
|
Unrestricted |
Total |
Total |
|
|
funds |
funds |
funds |
|
|
2024 |
2024 |
2023 |
|
Note |
£ |
£ |
£ |
| Income from: |
|
|
|
|
| Investments |
3 |
205,898 |
205,898 |
182,757 |
| Other income |
4 |
- |
- |
2,778 |
| Total income |
|
205,898 |
205,898 |
185,535 |
| Expenditure on: |
|
|
|
|
| Raising funds |
5 |
84,964 |
84,964 |
86,302 |
| Charitable activities |
|
121,844 |
121,844 |
110,053 |
| Total expenditure |
|
206,808 |
206,808 |
196,355 |
| Net expenditure before net losses on investments |
|
(910) |
(910) |
(10,820) |
| Net losses on investments |
|
(1,176,039) |
(1,176,039) |
(595 955) |
| Net movement in funds |
|
(1,176,949) |
(1,176,949) |
(606,775) |
| Reconciliation of funds: |
|
|
|
|
| Total funds brought forward |
|
6,565,444 |
6,565,444 |
7,172,219 |
| Net movement in funds |
|
(1,176,949) |
(1,176,949) |
(606,775) |
| Total funds carried forward |
|
5,388,495 |
5,388,495 |
6,565,444 |
|
|
|
2024 |
|
2023 |
|
Note |
|
£ |
|
£ |
| Fixed assets |
|
|
|
|
|
| Tangible assets |
11 |
|
998 |
|
998 |
| Investments |
13 |
|
1,162,497 |
|
976,139 |
| Investment property |
12 |
|
- |
|
4,943,000 |
|
|
|
1,163,495 |
|
5,920,137 |
| Current assets |
|
|
|
|
|
| Investment property |
14 |
3,983,000 |
|
275,000 |
|
| Debtors |
15 |
2,160 |
|
114,387 |
|
| Investments |
16 |
179,846 |
|
- |
|
| Cash at bank and in hand |
|
93,335 |
|
261,160 |
|
|
|
4,258,341 |
|
650,547 |
|
| Creditors amounts falling due within one |
|
|
|
|
|
| year |
17 |
(33,341) |
|
• (5,240) |
|
| Net current assets |
|
|
4,225,000 |
|
645,307 |
| Total assets less current liabilities |
|
|
5,388,495 |
|
6,565,444 |
| Total net assets |
|
|
5,388,495 |
|
6,565,444 |
| Charity funds |
|
|
|
|
|
| Restricted funds |
18 |
|
|
|
|
| Unrestricted funds |
18 |
|
5,388,495 |
|
6,565,444 |
| Total funds |
|
|
5,388,495 |
|
6,565,444 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2024 |
2024 |
2023 |
|
£ |
£ |
£ |
| UK investment property rental income |
165,882 |
165,882 |
159,998 |
| UK quoted investments income |
32,383 |
32,383 |
20,854 |
| Interest received |
7,633 |
7,633 |
1,905 |
|
205,898 |
205,898 |
182,757 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2024 |
2024 |
2023 |
|
£ |
£ |
£ |
| Recharged tenant utilitycosts |
- |
- |
2,778 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2024 |
2024 |
2023 |
|
£ |
£ |
£ |
| Kernson property sale costs |
32,955 |
32,955 |
- |
| Property professional fees |
30,412 |
30,412 |
42,846 |
| Security costs |
- |
- |
3,265 |
| Empty property costs |
- |
- |
4,223 |
| General site maintenance |
19,565 |
19,565 |
31,949 |
| Utilities |
- |
- |
2.332 |
| Investment management fees |
2,032 |
2,032 |
1,687 |
| Total 2024 |
84,964 |
84,964 |
86,302 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2024 |
2024 |
2023 |
|
£ |
£ |
£ |
| Insurance and office costs |
18.531 |
18,531 |
17,034 |
| Grants payable (see note 8) |
78,175 |
78,175 |
70,668 |
| Wages and salaries (see note 9) |
10,273 |
10,273 |
10,746 |
| Governance costs (see note 7) |
14,865 |
14,865 |
11,605 |
| Total 2024 |
121,844 |
121,844 |
110,053 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2024 |
2024 |
2023 |
|
£ |
£ |
£ |
| Auditor's remuneration for the audit of the Charity's financial |
|
|
|
| statements |
8.340 |
8,340 |
6,887 |
| Office costs |
2,876 |
2,876 |
3,269 |
| Accountancy and professional fees |
3,649 |
3,649 |
1,449 |
| Total 2024 |
14,865 |
14,865 |
11.605 |
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2024 |
2024 |
2023 |
|
£ |
£ |
£ |
| Open Road Training |
5,000 |
5,000 |
- |
| Eliza Doyle |
450 |
450 |
- |
| Greenlight Trust |
15,000 |
15,000 |
- |
| Swan Youth Project |
5,000 |
5,000 |
- |
| For Children and Young People |
5,000 |
5,000 |
- |
| SENDAT |
- |
- |
28,635 |
| Friends of Thorndon School |
- |
- |
2,000 |
| Norwich City Community Foundation |
5,000 |
5,000 |
- |
| University of East Anglia |
9,592 |
9,592 |
- |
| Young Enterprise |
6,000 |
6,000 |
- |
| The Mix Stowmarket |
- |
- |
7,000 |
| Downham Market Academy |
- |
- |
3,455 |
| National LiteracyTrust |
5,133 |
5,133 |
- |
| ERD Connection |
2,000 |
2,000 |
- |
| Future Female Society |
5,000 |
5,000 |
10,000 |
| Spinning Wheel Theatre |
- |
- |
1,000 |
| ENYP |
- |
- |
3,000 |
| Norfolk Scouts |
- |
- |
1,250 |
| Suffolk Scouts |
- |
- |
750 |
| Young People Taking Action |
- |
- |
5,000 |
| EP Youth Limited |
- |
- |
8,578 |
| Felixstowe Youth Project |
15,000 |
15,000 |
- |
| Total 2024 |
78,175 |
78,175 |
70,668 |
|
2024 |
2023 |
|
£ |
£ |
| Wages and salaries |
10,273 |
10,746 |
| The average number of persons employed by the Charity during the year was as follows |
|
|
|
2024 |
2023 |
|
No. |
No |
| Administration |
1 |
1 |
|
|
Fixtures and |
|
|
fittings |
|
|
£ |
| Cost |
|
|
| At 1 May2023 |
|
3,057 |
| At 30 April2024 |
|
3,057 |
| Depreciation |
|
|
| At 1 May 2023 |
|
2,059 |
| At 30 April 2024 |
- |
2,059 |
| Net book value |
|
|
| At 30 April2024 |
|
998 |
| At 30 April 2023 |
|
998 |
|
Freehold |
|
investment |
|
properties |
|
£ |
| At 1 May 2023 |
4,943,000 |
| Revaluations |
(1,235,000) |
| Transferto current asset investments |
(3,708,000) |
| At 30April 2024 |
|
|
|
Listed |
|
|
investments |
|
|
£ |
| Cost or valuation |
|
|
| At 1 May 2023 |
|
976,140 |
| Additions |
|
127,930 |
| Revaluations |
|
58,427 |
| At 30 April 2024 |
|
1,162,497 |
| Net book value |
|
|
| At 30 April 2024 |
|
1,162,497 |
| At 30 April 2023 |
|
976,140 |
| Investment properties |
|
|
|
2024 |
2023 |
|
£ |
£ |
| Investment properties |
3,983,000 |
2/5,000 |
|
2024 |
2023 |
|
£ |
£ |
| Due within one year |
|
|
| Other debtors |
- |
114,387 |
| Prepayments and accrued income |
2,160 |
- |
|
2,160 |
114,387 |
|
2024 |
2023 |
|
£ |
£ |
| Fixed term cash deposits |
179,846 |
- |
|
2024 |
2023 |
|
£ |
£ |
| Trade creditors |
9,681 |
. |
| Accruals and deferred income |
8,660 |
5,240 |
| Grants accrued - institutional |
15,000 |
- |
|
33,341 |
5,240 |
|
Balance at |
|
|
|
Balance at |
|
1 May |
|
|
Gains/ |
30 April |
|
2023 |
Income |
Expenditure |
(Losses) |
2024 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| General Funds - all funds |
6,565,444 |
205,898 |
(206,808) |
(1,176,039) |
5,388,495 |
| Statement of Funds - Prior Year |
|
|
|
|
|
|
Balance at |
|
|
|
Balance at |
|
1 May |
|
|
Gains/ |
30 April |
|
2022 |
Income |
Expenditure |
(Losses) |
2023 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| General Funds - all funds |
7,172.219 |
185,535 |
(196,355) |
(595,955) |
6,565,444 |
|
Unrestricted |
Total |
|
funds |
funds |
|
2024 |
2024 |
|
£ |
£ |
| Tangible fixed assets |
998 |
998 |
| Fixed asset investments |
1,162,497 |
1,162,497 |
| Current assets |
4,258,341 |
4,258,341 |
| Creditors due within one year |
(33.341) |
(33,341) |
| Total |
5,388,495 |
5,388,495 |
|
Unrestricted |
Total |
|
funds |
funds |
|
2023 |
2023 |
|
£ |
£ |
| Tangible fixed assets |
998 |
998 |
| Fixed asset investments |
976.139 |
976,139 |
| Investment properties |
4,943,000 |
4,943,000 |
| Current assets |
650,547 |
650,547 |
| Creditors due within one year |
(5,240) |
(5,240) |
|
6,565,444 |
6,565,444 |