## **Independent Examiner’s Report**
Independent Examination of The Samuel Franklin Fund Elsworth (Charity 228775) for the Financial Year ending 31 December 2024
## **Responsibility & Basis of Examination**
It is the responsibility of the charity trustees to maintain and prepare the accounts.
The Charity does not have sufficient income or assets to require an audit under section 144 of the Charities Act 2011 (the Charities Act). The Charity has requested an independent examination under section 145 of the Charities Act, as the income and expenditure for the year is over the £25,000 threshold for this requirement.
This examination has been carried out in accordance with the directions and guidance provided by the Charity Commission. I have examined the accounting records and the underlying records provided by the Charity, and a check audit trail has been carried out on a random sample of records. The examination checks do not provide all the evidence that would be required for an audit, and therefore no opinion can be given as to whether the accounts present a ‘true and fair’ view and this report is limited to the statement below.
## **Statement**
During the examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirements
- To keep accounting records in accordance with section 130 of the
- Charities Act; and
- To prepare accounts which accord with the accounting records
- and comply with the accounting requirements of the Charities Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Ben Stoehr 11 August 2025
## **The Samuel Franklin Fund Elsworth Annual Report and Accounts for the year ended 31 December 2024**
The Samuel Franklin Fund is a registered charity (No. 228775) and is constituted by a Scheme approved and established by The Charity Commissioners for England and Wales on 7 June 1967 (as amended by resolution dated 10 December 1992, order dated 4 January 2002, resolution dated 7 February 2002, scheme dated 6 February 2004, and resolution dated 28 January 2010).
## **Trustees**
The charity trustees on 31 December 2024 were:
Mrs A Howell Mr D Pope Mr I Maddison Rev N di Castiglione
Two of the trustees are appointed by the Parish Council to act for four years (Mr D Pope was reappointed on 15 March 2023 and Mr I Maddison reappointed on 17 March 2021). Mr I Maddison gave notice of his intention to retire on 17 March 2025. Mrs A Howell was reappointed on 23 March 2020 to act for five years, The Rev N di Castiglione was appointed a trustee ex officio on 21 October 2015. Mrs J Millns requested not to be reappointed on 12 October 2024, the anniversary of her original appointment. Decisions on charity distributions are made by majority decision of the trustees. The fund paid a premium in the year of £622 for trustee indemnity insurance.
## **Purpose**
The general purpose is to make grants to those in the Parish of Elsworth who are less well off and in need of help because of illness, infirmity, hospitalisation or other special needs or embarking on further education or vocational training. In addition, donations may be made to individuals and institutions that provide help or services for the sick, young or elderly of the village.
## **Review of the year**
During the year grants were made to 22 beneficiaries and donations to: the Papworth Day Centre, the Jubilee Club, Elsworth School and Elsworth Pre School.
The trustees are pleased to report that all five Castle Acre units that are owned by the Fund were occupied over the entire year. The rental income and bank account balance as shown in the accounts increased because of the timing of receipts. Expenditure on building works and repairs has increased and the Trustees expect this to continue in 2025 to ensure that the site and the units are maintained in a satisfactory and compliant condition for tenants.
11 August 2025
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**The Samuel Franklin Fund Elsworth**
## **The Samuel Franklin Fund Elsworth**
## **Receipts and payments account for the year ended 31 December 2024**
|**Income receipts**
From assets
Rent of Castle Acre Estate
Rent of Castle Acre Fields
Recharge of site maintenance etc
Bank and COIF interest
Insurance claim
COIF dividends
**Total receipts**
**Payments**
Charitable expenditure
Distributions:
Trinity
Christmas
Grants for services to the Parish
Grants to help households
Donations to :
Jubilee Club
Papworth Day Centre
Elsworth School
Elsworth Pre School
Elsworth Village Shop
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**
Cash funds less liabilities at 31 December 2023
**Cash funds less liabilities at 31 December 2024**|**2024**
**£**
**£**
**26,214**
**985**
**1,347**
**4,384**
**1,438**
**605**
**34,973**
**8,700**
**7,800**
**750**
**1,500**
**1,500**
**700**
**1,500**
**1,500**
**1,575**
**200**
**25,725**
**5,636**
**439**
**13**
**1,156**
**2,292**
**505**
**68**
**10,109**
**2,100**
**622**
**49**
**2,771**
**38,605**
**(3,632)**
**87,207**
**83,575**|2023
£
22,020
500
2,500
3,457
594|
|---|---|---|
|||29,071
9,650
8,700
750
773
2,250
1,400
1,500
1,500
-
200|
|||26,723
5,001
530
25
1,053
2,382
559
187|
|||9,737
2,400
592
95|
|||3,087|
|||39,547|
|||(10,476)
97,683|
|||87,207|
## **Statement of assets and liabilities at 31 December 2024**
|**Unrestricted assets**
**Cash funds**
Bank balances
National Westminster
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**|**2024**
**£**
**(3,352)**
**95**
**87,502**
**8,215**
**(670)**
**(8,215)**
**83,575**
**27,058**
**110,633**|2023
£
4,198
95
83,238
8,053
(324)
(8,053)|
|---|---|---|
|||87,207
25,602|
|||112,809|
## **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 £21,335 (2023 - 6898.63 units in COIF Ethical Fund with a value of £25,602)
(b) Freehold property comprising: five commercial units known as Castle Acre Estate (with an insured value of £485,000) and 12.5 acres of agricultural land known as Castle A which are let for grazing.
On behalf of the trustees
## Annie Howell, Chair
11 August 2025
……………………………………………………………………………………….…..
All correspondence should be addressed to Ms C Robertson, The Clerk to the Trustees, 42 Constellation Park Elsworth, Cambridgeshire CB23 4JP.
## The charity’s banker, solicitor, land agent and surveyors are as follows:
Bankers: Solicitors: Land Agents: Surveyors: National Westminster HCR Hewitsons Jolliffe Pleasance, Hookham & Nix 23 Market Street 50-60 Station Road 25 Broadway 1 Northampton Street Cambridge Cambridge Peterborough Cambridge CB2 3PA CB1 2JH PE7 1SQ CB3 0AD
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