Independent Examiner's Report The Samuel Franklin Fund Elsworth Annual Report and Aeeounts for the year ended 31 December 2021 Indcpcndcnt Examination of The Samuel Franklin Fund Elsworth (Charity 228775) for thc Finat]cial Y¢ar ct]dit]g 3 1 Dec¢mbcr 2021 Responsibility & Basis of Examination The Samu¢l Franklin Flind i8 a registcr¢d charity (No. 228775) and is ¢on8titut¢d by a Scheme approl'cd and ¢8tablished by The Charity Commi88ioncrs for England and Walcs on 7 Jun¢ 1967 las amcndcd on 18 March 19931. It is th¢ responsibility of th¢ charity trustees to maintain and pr¢parc th¢ accounts. The Charity docs not hav¢ 8iifficient incom¢ or a8s¢t8 to requir¢ an aiidit undcr scctii)n 144 1)f thc CharitlC8 Act 21111 Ithc L haritic8 Actl. Thc Charity ha8 rcqiiestcd an indcpcndcnt examination iindcr section 145 of the Charitics Act. Trustees The charity triistccs at 3 1 Dcccmbcr 2021 werc.. Mr% A Howcll Mr l Maddison Mr D Popc Rev N di Ca8tiglionc Mr% J Millns Thi8 cxaminalion has bccn carried out in accordancc with the direction8 and guidancc providcd hy the C harily Coinmi.sqion. I have CX¢?Inincd thc 9¢ ccounting records and Ihc undcrlyingi rccords providcd by thc Lh?¢ rity. a check aLidit ir¢iil ha8 bccn carricd out on a random %aniplL Ot rccord%. Thc cxainin¢ilion chcck% do not prftvidc all IhL LvidcncL ihiil wi)Lild bc rcquircd for an audit, and ihcrLlor no ()pinion can bc giivcn il.% l() wlicihcr Ihc acc()unis prc.%cnl u 'lruc lind fair. view and thi.4 rcport is limited to the %iatemcni bclow. Two of the Iru41cc8 arc appointed by the Pari%h Loiincil lo act tor four year% (Mr D Popc wa% ¢ippointcd on I X JLily 2lll X and Mr l M¢iddi%on rc¢ippoinlcd on 17 March 211211. l)t ihc rciiiiiiningi Ihrcc Iru%lLC% Mrs A Howell wa% rcdpp()inlLd on 23 March 2112111() act lor five ycari, TIIL Rcv N di ('asligilionc was app()IlllLd a tru.4tcc ex ()ftiLi(¥ (¥11 21 IILI()hcr 21115 lind Mr.% J Millns Wil% &lPIX)inlcd ()n 12 1)cti)bLr 211211 for Statement Iru%lLL%. The lund paid a prcmiLim in the year 01. £5fi1 lor irLi%iCC indcinnity insurai)Lc. Durinb) the cxaininaiion, no Inmtcr coinc to my attcntion.. Purp05Q ThL bTcnLral PLirpo%e IN to n)akc bTrani% 10 Ilio%c in Ilic Pari%h of El%worth who are wliich syivc% me rea%onablc cau%c 10 belicvc that in Any material rc%pcct Ihc rcquircinciit To kccp accoiiniing rccord.% in accordancc with %CClion 130 of thc Charitic.4 Act; aiid To prcparc accounts which accord with thc accouiiting rccord and coinply willi tlic accounting rcquircmcnts of thc Charitics Act liavc not bccn mct., or additioii d(?natioii.4 Inay bc Inadc to individual% aiid in%titLilion% Ilial providc liclp or -%crviccs for thc %ick or cldcrly of thc willa¥c. Review of the ye#r Diiriiig Ihc ycar grant.% wcrc Inadc lo 22 bciicficiaric% and donations to.. thc Papworili Day Ccntrc, tlic Jiibilcc Cliib, and Ll%worili School. to which, in my opinion, attcntion should bc drawn in ordcr to cnablc a propcr iindcr.%tanding of the account% to bc rcaclicd. Thc trustccs arc p[Ca￿Cd to rcport that all fivc Castlc Acrc iinit% that arc owncd and rcntcd oiit by the Fund wcrc occupicd ovcr the entire ycar. The rcntal incomc a shown in thc account5 15 up bccau5c of thc timing of rcccipt5. Bcn Stochr LGS Scrviccs 29 March 2022 lan Maddison, Chair 29 March 2022 **The Samuel Franklin Fund Elsworth** **The Samuel Franklin Fund Elsworth** ## **Receipts and payments account for the year ended 31 December 2021** |**Income receipts**
From assets
Rent of Castle Acre Estate
Rent of Castle Acre Fields
Recharge of site maintenance etc
Bank interest
COIF interest
COIF dividends
**Total receipts**
**Payments**
Charitable expenditure
Distributions:
Trinity
Winter fuel
Christmas
Grants for services to the Parish
Grants to help households
Donations to :
Jubilee Club
Papworth Day Centre
Elsworth School
Shop car park
Elsworth WI
Papworth Team Ministry event
Costs of property including management
Building works and repairs
Grass and hedge cutting and tree work etc
Agents fees (including advertising for tenants)
Legal charges and other professional fees
Insurance
Utilities
Bank charges
Costs of office management and administration
Clerk's Honoraria
Trustee indemnity insurance
Sundry expenses (including Examiners fee)
**Total payments**
**Net receipts / (payments) for the year**
Purchase of investment in COIF Ethical Fund
**Net movement in cash funds**
Cash funds less liabilities at 31 December 2020
**Cash funds less liabilities at 31 December 2021**|**2021**
**£**
**£**
**28,970**
**500**
**2,890**
**462**
**8**
**581**
**33,411**
**6,200**
**-**
**7,250**
**500**
**1,283**
**-**
**1,200**
**1,500**
**-**
**-**
**250**
**18,183**
**-**
**310**
**409**
**1,303**
**3,256**
**274**
**67**
**5,619**
**2,400**
**561**
**175**
**3,136**
**26,938**
**6,473**
**(25,000)**
**(18,527)**
**117,503**
**98,976**|2020
£
19,460
250
1,639
738
170
566| |---|---|---| |||22,823
4,900
-
5,650
528
746
1,500
1,200
2,650
1,000
106
-| |||18,280
1,500
554
13
-
3,133
440
67| |||5,707
2,400
561
303| |||3,264| |||27,251| |||(4,428)
-| |||(4,428)| |||121,931| |||117,503| ## **Statement of assets and liabilities at 31 December 2021** |**Unrestricted assets**
**Cash funds**
Bank balances
National Westminster
United Trust Bank
Santander
COIF account
Rent deposit accounts
**Liabilities**
VAT payable
Repayable rent deposits
**Cash funds less liabilities**
**Investment assets**
Units in COIF Ethical Fund
**Total unrestricted assets**|**2021**
**£**
**14,997**
**45,834**
**85**
**39,667**
**8,009**
**(1,607)**
**(8,009)**
**98,976**
**25,016**
**123,992**|2020
£
8,355
45,373
84
64,659
8,013
(968)
(8,013)| |---|---|---| |||117,503
-| |||117,503| ## **Permanent endowment** In addition to the above the Fund has the following assets as its permanent endowment: (a) a holding of 6,898.63 units in COIF's Ethical Fund with a market value of £21,556 (2020 - 6898.63 units in COIF Ethical Fund with a value of £19,028) (b) Freehold property comprising: five commercial units known as Castle Acre Estate (with an insuered value of £485,000) and 12.5 acres of agricultural land known as Castle Acre which are let for grazing. On behalf of the trustees Ian Maddison, Chair 29 March 2022 ……………………………………………………………………………………….….. All correspondence should be addressed to Mrs S Wyer, The Clerk to the Trustees, 7 Church Lane, Elsworth, Cambridgeshire CB23 4HU. The charity’s banker, solicitor, land agent and surveyors are as follows: Bankers: Solicitors: Land Agents: Surveyors: National Westminster Hewitsons Jolliffe Pleasance, Hookham & Nix 23 Market Street Shakespeare House 25 Broadway 1 Northampton Street Cambridge 42 Newmarket Road Peterborough Cambridge CB2 3PA Cambridge Cambridgeshire CB3 0AD CB5 8EP PE7 1SQ 2 3 Independent Examiner's Report The Samuel Franklin Fund Elsworth Annual Report and Aeeounts for the year ended 31 December 2021 Indcpcndcnt Examination of The Samuel Franklin Fund Elsworth (Charity 228775) for thc Finat]cial Y¢ar ct]dit]g 3 1 Dec¢mbcr 2021 Responsibility & Basis of Examination The Samu¢l Franklin Flind i8 a registcr¢d charity (No. 228775) and is ¢on8titut¢d by a Scheme approl'cd and ¢8tablished by The Charity Commi88ioncrs for England and Walcs on 7 Jun¢ 1967 las amcndcd on 18 March 19931. It is th¢ responsibility of th¢ charity trustees to maintain and pr¢parc th¢ accounts. The Charity docs not hav¢ 8iifficient incom¢ or a8s¢t8 to requir¢ an aiidit undcr scctii)n 144 1)f thc CharitlC8 Act 21111 Ithc L haritic8 Actl. Thc Charity ha8 rcqiiestcd an indcpcndcnt examination iindcr section 145 of the Charitics Act. Trustees The charity triistccs at 3 1 Dcccmbcr 2021 werc.. Mr% A Howcll Mr l Maddison Mr D Popc Rev N di Ca8tiglionc Mr% J Millns Thi8 cxaminalion has bccn carried out in accordancc with the direction8 and guidancc providcd hy the C harily Coinmi.sqion. I have CX¢?Inincd thc 9¢ ccounting records and Ihc undcrlyingi rccords providcd by thc Lh?¢ rity. a check aLidit ir¢iil ha8 bccn carricd out on a random %aniplL Ot rccord%. Thc cxainin¢ilion chcck% do not prftvidc all IhL LvidcncL ihiil wi)Lild bc rcquircd for an audit, and ihcrLlor no ()pinion can bc giivcn il.% l() wlicihcr Ihc acc()unis prc.%cnl u 'lruc lind fair. view and thi.4 rcport is limited to the %iatemcni bclow. Two of the Iru41cc8 arc appointed by the Pari%h Loiincil lo act tor four year% (Mr D Popc wa% ¢ippointcd on I X JLily 2lll X and Mr l M¢iddi%on rc¢ippoinlcd on 17 March 211211. l)t ihc rciiiiiiningi Ihrcc Iru%lLC% Mrs A Howell wa% rcdpp()inlLd on 23 March 2112111() act lor five ycari, TIIL Rcv N di ('asligilionc was app()IlllLd a tru.4tcc ex ()ftiLi(¥ (¥11 21 IILI()hcr 21115 lind Mr.% J Millns Wil% &lPIX)inlcd ()n 12 1)cti)bLr 211211 for Statement Iru%lLL%. The lund paid a prcmiLim in the year 01. £5fi1 lor irLi%iCC indcinnity insurai)Lc. Durinb) the cxaininaiion, no Inmtcr coinc to my attcntion.. Purp05Q ThL bTcnLral PLirpo%e IN to n)akc bTrani% 10 Ilio%c in Ilic Pari%h of El%worth who are wliich syivc% me rea%onablc cau%c 10 belicvc that in Any material rc%pcct Ihc rcquircinciit To kccp accoiiniing rccord.% in accordancc with %CClion 130 of thc Charitic.4 Act; aiid To prcparc accounts which accord with thc accouiiting rccord and coinply willi tlic accounting rcquircmcnts of thc Charitics Act liavc not bccn mct., or additioii d(?natioii.4 Inay bc Inadc to individual% aiid in%titLilion% Ilial providc liclp or -%crviccs for thc %ick or cldcrly of thc willa¥c. Review of the ye#r Diiriiig Ihc ycar grant.% wcrc Inadc lo 22 bciicficiaric% and donations to.. thc Papworili Day Ccntrc, tlic Jiibilcc Cliib, and Ll%worili School. to which, in my opinion, attcntion should bc drawn in ordcr to cnablc a propcr iindcr.%tanding of the account% to bc rcaclicd. Thc trustccs arc p[Ca￿Cd to rcport that all fivc Castlc Acrc iinit% that arc owncd and rcntcd oiit by the Fund wcrc occupicd ovcr the entire ycar. The rcntal incomc a shown in thc account5 15 up bccau5c of thc timing of rcccipt5. Bcn Stochr LGS Scrviccs 29 March 2022 lan Maddison, Chair 29 March 2022