SPALDING RELIEF IN NEED CHARITY
CHARrrY COMMISSION REGISTERED NO. 229268
STATEMENT OF ACCOUNTS
for the year ended
31 December 2022
Administered by
THE SPALDING TOWN HUSBANDS

SPALDING REUEF IN NEED CHARITY
CHARrrY INFORMATION
Reglstered Address
12 Broad Street
Spalding.
Lin(s.,
PE11 1TB.
Tel: 01775 768774
Clerk
Mr P.W. Skells
Deputy Clerk
Mrs. Fi Inglis
Administrator
Administrative assistant
Mrs T. Griggs
Miss J Mulraney
Cothoptative Trustees {appointed under
Ihe Scheme for five-year tetms by
the Trustees)
Mr R. Hanctjx (Chaiman)
Mr D.A.J. Gratton (Vice-chairman)
Mr G.C.M. Adams
Rev. J. Bennett
Mrs D. Clay
Mrs P.G. Keeling M.B.E ,D.L.
Mr R.A. Knipe
Mr J.H.P. Lister
Mr C.R.M. Longstaff
Mrs B.K. Ruysen
Dr. A Stone
Nominative Trustees (app)inted under
the Scheme by the South Holland
District C¢)uncil for four-year temis}
Cllr. AM. Newton (De￿aSed 30 August 2022)
Cllr. E Sneath
Bankers
Uoyds Bank Plc.
Hall Place,
Spalding.
Lincs.,
PE11 1SF.
Independent Examiner
KJ. Maggs BA.. F.CA.
Chartered Accountant,
16 Hoekman way
Spalding.
Lincs.,
PE113HE.
Page 1

SPALDING RELIEF IN NEED CHARrrY
TRUSTEES REPORT
FOR TrIE YEAR ENDED 31 DECEMBER 2022
The Trustees present their report and accounts for the year ended 31 D8￿mtEr 2022.
Governance and Management
The Scheme - The Spalding Relief in Need Charity is regulated by a scheme of the Charf(y
Commissioners of 13 August 1971 as varied from time to time; registered number 229268.
Trust8es- The Charity is administered by Trustees known as the Spalding Town Husbands.
Particulars of the Trustees and their method of appjintment are set out on page 1, together with the
address of the Charivs registered office. On appointment. the Trustees are promded with a detsiled
information pack which covers all aspects of the Charty, its constitution, assets and day to day
management. The Trustees consider that the information is sufficient for the appointee lo be in a
position to act in such capacity. The Trustees meet on a quarterly basis and at other times rf the
need arises. A Committee of the Trustees meets fortnightly to consider roLrtine grant applications.
The Charity is managed on a day to day basis by the Clerk. the Deputy Clerk and the Administrator
in consultation, when ne￿Ssary. with the Chaiman.
At the Annual General Meeting in Marth 2022. Mr. R Hancox was re-appointed as Chalmian of the
Trustees and Mr D. A J. Gratton was re-apFrf)inted as Vice-chairman.
Risk Management- The Trustees have assessed the major risks to which the Charity is exposed. in
particular those related to the management of tts investrnents and finan￿S, and are satisfied that
the systems in pla￿ sufficienty managa ts exposure to those risks.
Related Party- The Charity is connected with the Spalding Almshouse Charity, which is also
administered by the Spalding Town Husbands under the Scheme.
Management of Lands- The Trustees are required under the Scheme to let and othe￿iSe manage
all the lands belonging to the Chartty not required to be relained or ocCJJpi￿ for the purposes of the
Charity.
Obje¢tlvos and Activiti8S
Objects- The general object of the Trustees is to apply the income of the Charity in relieving either
ganorally or indiiidualty parson8 rèsidènt in the area of benefrt who are in conditions of need,
hardship or distress by making grants of money or promding or paying for items, seNices or facilities
calculated to reduce the need, hardship or distress of such persons. The Trustees may pay for such
items, services or facilities by way of donations or subscriptions to institutsons or organisations which
provide or which undertake to provide such items. services or faulities. In applying the income of the
Charity. the Trustees shall not commtt the Charity to repeat or renew the relief granted on any
occasion in any case.
The funds or income of the Charity are specffi(31ty not to te applied in relief of public funds.
The Trustees consider that the objectives and activrties of the Chanty are in accordance with the
Charity Commission's general guidan(t on public benefft.
Area of Benefrt- This is defined Imthin the Scheme as the District of South Holland in the County of
Lincolnshire. with preference for the area comprising the Urban District of Spalding as constituted on
13 August 1971 and the Parishes of Cowbit, Deeping St. Nicholas, PInCh￿Ck and Weston. in the
County of Lincolnshire.

SPALDING RELIEF IN NEED CHARrrY
TRUSTEES REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
Summary of Maln Achievemonts and Events
It is wth regret that the trustees report that Councillor Angela Newton. an existing Town Husband,
and Miss Patricia Sykes. a fom)er Town Husband, passed away during the year.
During the year. grants were made in accordance with the charity objectives at a total cost of
£26,828 (2021- £21,960), ￿lch induded TV Licences for almshouse residents who did not qualify
for a free li￿n￿.
At the December meeting, the Trustees rewewed the level of accumulated income available for
making grants which has increased over the last two years. The Relief in Need Committee was
asked to consider proposals lo try and raise the level of public awareness of the Charity with a view
to increasing the number of grants made and reducing the balan￿ of accumulated income. The
Committee will report back to the next full Trustees meeting in March 2023.
Following a review in 2021 of the level of accumulated income available for making grants, enquiries
have been made of local schools to see rf there is a demand for help in providing pupils with grants
for unrfomis or other educational requirements. These enquiries are ongoing.
Flnancial Review
Thè details of the financial transactions during the year are sh(AYn in the Statement of Financial
Activities, on page 5, whilst the Financkql Position is shown on the Balance Sheet on page 6, along
wrth the necessary details in the notes on pages 7 to 11.
Messrs M E & J M Chapman surrendered their tenancy of 7.081 acres of land at Gedney which was
rèlet to Mr J Reeve as from October 2022 at an increased rent of £1.484 per annum.
Reserves Policy- The Trustees aim, in pursuing their objects, is to distribute by way of grants the
whole of the Charity's incoming reSoU￿S available for the purpose ￿thin a reasonable time span
after such reSoUr￿S are re￿1ve￿. The Trustees see no need to have a reservas policy as such.
Inveslrnents - Investment of the CharÈty's endowment funds is under the direct control of the
Trustees. Agricultural land and Common Investment Funds are currentty the Trustees, preferred
investment vehicles. Common Investment Funds are specifically designed for chartiies and therefore
manage the risk inherent in the investmant markets
Investments- Investment of the Charity's endow7nent funds is under the direct control of the
Trustees. Agricultural land and Common Investment Funds are currentty the Trustees, preferred
investment vehicles. Common Investrnent Funds are spectfically designed for charrties and therefore
manage the risk inherent in the investment markets.
BY ORDER OF THE TRUSTEES
P.W. Skells
Clerk.
zois

INDEPENDENT EXAMINER% REPORT
TO THE TRUSTEES OF THE
SPALDING RELIEF IN NEED CHARtrY
I r8POrt to th8 trustees on my examination of the accounts of the Charity for the year ended
31 December 2022. which are set out on pages 5 to 11.
Responsibililles and basls of report
As the charity's truste8s you are responsib18 for the preparation of the accounts in accordance with
the requirements of the Charibes Act 2011 ('the Acf).
I report in respect of my examinatlon of the charitys accounts carrled out under section 145 of the
Act and in carrying out my examination I have fdlowed all the applicable Directions given by the
Charity Commission under section 145(5)(b) of the ACL
Independent examlnerf$ 8tatomont
I have completed my 6xam1r￿tI0n. l (x)nfirm that no material matters have come to my attention In
connection wth the examinats'on glvlng mè cause to believe that In any material resp8Ct:
1. accounting records V•Bre not kept in r8sp8Ct of the charfty as requlred by sectlon 130 of th8 Act,.
or
2. th8 accounts do not accord with those records; or
3. the accounts do not comply the applicablè requirements conceming the form and ¢ontenl of
accounts sel out in th8 Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a Yrue and falr vlth¢ whlch Is not a matter considered as part
of an independent examlnatlon.
I have no concems and have ry)me across no other matters in connection with the examlnatlon to
which attention should be drawn in this report in order to enable a proper understandlng of the
accounts to be reached.
ggs
Chartered
Spalding
F.C.A.
ntant
Page 4

SPALDING REUEF IN NEED CHARITY
BALANCE SHEET
AT 31 DECEMBER 2022
2022
2021
Note
FIXED ASSETS - Endowment
Investments
Freehold land
581.395
681.000
1.262,395
673.400
681.000
1,354.400
CURRENT ASSETS
Short-term deposits:
Endowment
Unrestricted
Cash at bank
Prepayments
Accrued rental income
3.070
124.650
12.763
141
732
141.356
3.070
104,103
31.543
135
732
139,583
CREDITORS: Amounts falling due
wlthin one year
Amounts due to The Spalding
Alnshouse Charity
Accruals and defe￿ed income
2,109
2,109
4.481
6.590
6,608
8,717
NET CURREKf ASSETS
134.766
1.397,161
130,866
1,485.266
CAPITAL FUNDS
Endowment
1.265,853
1.357,858
INCOME FUNDS
Unrestricted
131,308
1,397,161
127,408
1.485,266
Tha fi
sign
al statements on pages 5 to 11 ￿re approv&d by the Trustees on .
h8ir beh
fby:
on
Mr R. Hancox
Trustee
J. Gratton
tee
The notes on pages T to 11 fonn part of these accounts
Page 6

SPALDING RELIEF IN NEED CHARITY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng Policies
The signtficant accounting Wi(#es applied in the preparation of Ihese financtal statements are set
out below. These poliaes have been consistently applied to all years presented unless othemise
stated.
(a) Basis of preparation of financial sL*ements
The charty constitutes a public benefit enttty as defined by FRS 102. The financial statements
have been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practi￿ applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October
2019, the Financial Reporting Standard applicable in the United Kingdom and Republtc of
Ireland {FRS 102). the Chanties Act 2011 and UK Generally Afftpted Accounting Practice.
The finanaal statements are prepared on a going concem basis under the historical cost
converrtion. M￿j[fied to include certain items at fair value. The financial statements are
presented in sterling which is the functional currency of the Charrty.
(b) Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtheran￿ of the
general objectives of the Charity and which have not been de&gnated for other purposes.
Endowment funds represent those assets vthich must be held permanenlly by the Charity,
principally investments and freehold land. Income arising on the endowment funds can be
used in furtherance of the general objectives of the Charity and is induded as unrestricted
income. Any capital gains or l¢)sses arising on the investrnents or freehold land fomi part of
the endowment funds.
(c} Income recognition
All incoming reSoUr￿S are induded in the Statement of Finanaal Actsvities {SoFA) when the
Charity is legally ents'tled lo the income after any perf0m￿nCe conditions have been met, the
amount Can be measured reliably and rt is probable that the income will be received.
Investment income is recognised in the accounts when the amount can be measured reliably
and the Charity's right to roCOtVg paymont is oslabli6hed.
Grants receivable are recognised in the SOFA at fair value when all conditions for receipt have
been satisfied, it is probable that the income NMII be re￿[Ved and the amount can be measured
reliably. Deferred grant income represents amounts r￿1Ved for future periods and is released
to incoming resources in the period for which rt has be8n re￿ived.
No amount is induded in the finan(aal statements for volunteer time in line with the SORP
IFRS 102).
(d} Expendlture recognftlon
Expenditure is accounted for gross on an accruals basis and has been classified under
headings that aggregate all costs related to the category.
Charitable actiwties expenditure indude all resources applied by the Charity in undertaking its
charitable objectives as opposed to support costs. They are the resources expended in
handling applicats'ons for relief arKI administerirKJ grants approved by the Trustees.
Page 7

SPALDING RELIEF IN NEED CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng Poll¢les (contlnued)
(d) Expendlture ￿cOgnItIOn (contlnued)
Support costs are those that assist the work of the Charity but do not direcuy represent
charitable actiwties and indude office costs and govemance costs.
Donations receivable are alkKated on the basis of donors. wishes. If a specific purpose is
detemiined then a restricled fund FS established for that purpose.
Grants payable are recoqnised in the Statement of Financial Activities when they have been
approved by the Trusteel and all conditions for payment have been satisfied.
(e) Debtors and creditors recelvablelpayable within one year
Deblors and creditors witb no stated interest rate and re￿1vable or payable within one year are
recorded at transaction pjce. Any losses arising from impaimient are recognised in
expenditure.
(fj Freehold land
Freehold land is subject to ongoing agricultural tenancies and as such is treated as investment
propety. for which thè fai[ value has been estimated by the Trustees.
Ig) Investments
Quoted investments are lho￿Tr at their fair valu& at the balance sheet date (see note 5). Any
movement in their fair value is recognised in the SOFA.
(h) Going Concorn
The financial statements have been prepared on a going cOn￿M basis as the Tnjstees
believe that no material uncertainties exist. The Trustees have considered the Sevel of funds
held and the expected level of income and expenditure for 12 months from authorising these
financial stateTftents, which is sufficient wth the level of reserves of the Charity to be able to
continue as a going ¢onc+m.
2. Grants and Donatlons Recelvable
2022
2021
Elsoms Seeds Ltd
Cannon Williamson
Ms C Woodham
1,200
1.470
50
672
1,872
1,520
Related party transactlon
The Spalding Almshouse Charity is under the contr(4 of a common Board of Trustees.
Page 8

SPALDING RELIEF IN NEED CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
Investment Incomo
2022
2021
Rents receivable
Investment income
Short-term depostt interest
18,009
20,729
577
39,315
17,664
16,789
107
34,560
4. Grants Payable In furtherance of the Charitys Objècts
2022
2021
Individuals
Individuals - Annual Grants
Individuals - TV Licences for almshouse reSId￿ts
21,654
3,516
938
26,108
720
26,828
15,439
4,218
2,303
21.960
Instttutions - Holbeach Communty Larder
21,960
5. Investments - Endowment Fund
Market
value at Purchased Movement Disposal
111122
in year
in value
pro￿ed$
Market
value at
31112122
18,853.800 C.O.l.F. Charities
Investment Fund Inciyne Sharas
387.755
(45,572)
342.183
766 M&G Charity Multi Asset Fund -
Income
(19)
679
199,129.292 Black R(￿k Charities
UK Bond Fund A- Income
35.198
(7,461)
27.737
138,436.3521.F.S.L. CAF. Fixed
Interest Fund B - income
138.270
(24.154)
114.116
88,195.750 C.O.l.F Charities
Propety Fund Income Units
111.479
(14.799)
96,680
673.400
(92,005)
581,395
Year ended 31 December 2021
526,014
97,481
49.905
673,400
Page 9

SPALDING REUEF IN NEED CHARITY
NOTES TO THE ACCOUNTS {continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
6. Freehold Land - Endowment Fund
Acrea
e Address
Tenant
Rent
r Acre
18.360 Swndlers Drove. Spaldirg
9.950 Swindlers Drove, Spalding
4.412 Pilmore Lane, Spalding
9.150 Penny Hill, Holbeath
2.862 Damgate, Holbèath
17.887 Leaveslake Drove. West Pinchbed(
15.631 Washway Road. Moulton
7.081 Broadgate, Gedney
S. W. & C. S. Dring
S. W. & C. S. Dring
C.M.D.JA. Eley
J. Taylor
G. & M.C. Shearer
199
199
193
246
129
L & D Fk)wers
270
G. D. Harris
154
Mr J R88ve (forme
M.E. & J.M. Chapman)
210
Note
The fair value of the land has been determined by Ihe Trustees on a tenanted basis at
£681.000 (2021 - £681,000).
The current annual rents total £17.810 (2021- £17.426).
There has been an increase in the average rent reoivable to £211.04 per acre at 31
De￿mber 2022 (2021- £204.21}.
Accruals and Deferred Income
2022
2021
Accrued expenses
Rents paid in advan
935
3,546
2,901
3,707
6,608
Endowment Fund
2022
2021
Fixed assets
Freehold land
- Quoted investments
Short-term deposits
Cash at bank
681,000
581,395
3,070
681,000
673.400
3.070
388
1,265,853
1,357,858
9. Trustees Remuneration, Expenses and Control
During the year, no remuneration or expenses were paid to any of the Trustees. Thé Charity is
controlled by the Truste8s as a bc(ly. No individual Trustee has control over the Charity.
Page 10

SPALDING RELIEF IN NEED CHARITY
NOTES TO THE ACCOUNTS (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2022
10. Contlngent Ilablllty and asset
In September 2014. underdrainage works V￿re carried out by the tenants to the 18.360 acre field
in Swindlers Drove belonging to the Charity wttich they are occajpying under a Farm Business
Tenancy from 11 October 2005 to 10 October 2020. This cost is being amortised over 15 years.
then should Ihe tenants vacate the land the Chaiity wll have to reimburse the tenants the
unamortised cost, which at 31 December 2022 was £2,494 (2021- £2,864).
11. Fund comparatlves
Unrestricted Endowment
Funds
Funds
2021
Total
INCOME
Grants and donations
Income from investments
TOTAL INCOME
1,520
34,560
36.080
1,520
34,560
36,080
EXPENDITURE
Raising funds
Clerk's remuneration
Legal and professional fees
Charitable Activllies
Grants payable
Support Costs
Clerk's remuneration
Clerk's expenses
Insurance
Independent examinerfs fees
3,325
1.570
3,325
1,570
21.960
21,960
3,325
500
597
1.122
32.399
3,325
500
597
1,122
32,399
Net gains on investments
Financial investments
Falr value a¢JJustment to Freehold Land
49,905
53.481
103,386
103.386
49,905
53,481
103,386
107,067
NET INCOME AND NET MOVEMEKf IN FUNDS
3,681
Page11