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||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**|





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|**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|





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|||**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|





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||||**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|





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||**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|



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||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2024**|**2024**|2023|
||£|£|£|
|Recharged tenant utilitycosts|-|-|2,778|



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||**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|





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||**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|



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||**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|





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||**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|





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||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**|



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|||**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|





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||**Freehold**|
|---|---|
||**investment**|
||**properties**|
||£|
|At 1 May 2023|**4,943,000**|
|Revaluations|**(1,235,000)**|
|Transferto current asset investments|**(3,708,000)**|
|At 30April 2024||



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|||**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|





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||**2024**|2023|
|---|---|---|
||£|£|
|**Due within one year**|||
|Other debtors|-|114,387|
|Prepayments and accrued income|**2,160**|-|
||**2,160**|114,387|



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||**2024**|2023|
|---|---|---|
||£|£|
|Fixed term cash deposits|**179,846**|-|



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||**2024**|2023|
|---|---|---|
||£|£|
|Trade creditors|**9,681**|.|
|Accruals and deferred income|**8,660**|5,240|
|Grants accrued - institutional|**15,000**|-|
||**33,341**|5,240|





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||**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|



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||**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**|





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||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|



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