CHARITY REGISTRATION NUMBER: 230855 Brandon Poor's Estate Unaudited financial statements 31 March 2024
Brandon Poorfs Estate Financial statements Year ended 31 March 2024 Page Trustee's annual report Independent èxaminer's report lo the IIu51ees ol Brandon Poorfs Estate Statement of financial activities Balance sheet Notes lo Ihe flnancial statements 10
Brandon Poor's Estate Trustee's annual report Year ended 31 March 2024 The Iru51ee presents his report and the unaudited financial statements of the charity for the year ended 31 March 2024. The financial slalement5 have been prepared in acmrdance with the accounting policies set out in notes to the accounts and comply with the charivs governing docurrenl, the Charities Ad 2011 and Accounting and Reporting by Charities.. Statemènt of Recomrnended Practice applicable to charitie5 preparing their accounts in acctrrdance with the Financial Reporting Standard appli¢8ble in the UK and Republic of Iieland published in October 2019. Reference #nd admlnlstrative detalls R•glstered charity name Biandon Poor's Eslale Charlty r•gistration number 230855 Principal offi¢• 3a Hall C105e Coulson Lane Brandon IP27 OHU Th• trustee The trustees who $etvÉd during the year and al the dale of approval were as follows.. The current Iru51ees are= Co•OPtative J Brabbs Ichaimianl J Rèddin E Hunns J Prioi A Day (Appointed residents, repl Nominative S Skinner (Resigned 22105120231 Vacancy Vacancy Ex officio The Reverend Canon S Cobum (Resigned 31103120241 The Reverend D Coburn (Appointed 21105120241 The Iruslees wèré assisted in the charity adminislrdtion by a clerk, P Elheringlon. BankeTS Barclay5 Bank PIC Leicester LE87 28B
Brandon Poor's Estate Trustee's annual report(conllnued) Year ended 31 March 2024 Land agent Lacey Scott & Knight 10 Risbygale Street Bury St Edmunds Suffolk IP33 3AA Independènt •xamlner L Thurslon FCCA Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA
Brandon Poor's Estate Trustee's annual report(¢ontlnuod) Year ended 31 March 2024 Objectives and activities The nel incomÈ ol the Poorfs Eslale and of Stephen Ashwell's Charity is lo be applied for the benefit of almshouse residents of the Poorfs Estate. In ac¢ordance with a Charity Commi55ion Scheme dated 26 April 2002 these are poor single persons, normally residents of the Parish of Brandon when appointed with prèference being given to poor widows. The nel income of the Ann Curt15 Charity is tr> bè used to make grants of monèy or to provide or pay for items. 5etvic95 Qr faGililies calculated lo reducè thè need, hardship 01 distress of persons resident in the Parish ol Brandon. either generally or individually. The net income of the Hunt and Wilder Charity is lo be applièd for the relief of poor widows resrdènt in thè Parish ol Brandon either in grfts in kind or in grants ol money. The Trustèes may also provide almshousè residents with any necessary attendance in case of serious illness or permanent Infirmity. The Trustees are responsible for the management of the risks faced by the Eslale. The key control is the dose involvement of the Trustees in the day to day running of the estate. The Trustee5 are satisfied that the rnajor risks identified have been adequately miligaled where necessary. It is recognised that systems can only provide reasonable but not absoluie assurance that major risks have been adequately rn8rEagèd. The Ch8rity's Policies, in line with those reeommended by The Almshouse Association are now in place ready lo be approved at the next Trustees, meèting. In shaping our objective5 for the year and planning our activities, the Trustees have considered the Charity Commission'5 guidance on Public Benefit including, The Publlc Benefit Requirement IPB11, Running Charity IPB21 and Reporting IPB3}. Achievements and perfomianc8 During the year the Trustees have continued lo meèt the objective5 of the charitie5 by offering residential accommodation al the seven almshouses owned by Brandon Poor's Esl*e in Hall Close, Coulson Lane, Brandon, for qualifying almshouse residents. Services prowded include heating and an alarm system. The almshouse residents pay weekly contribution5 for maintènance and for healing. thè maintenance charge rates vary for Sngle occupancy dwellings or double occupancy dwellings and was increased in April. At the same time the paytnent of WMC was changed from 4 weekly to calendar monthly. All dwellings are unfumished. Otherwise the charitles, income arises from investments and land leases. In the year to 31 March 2024 Brandon Poor's Estate have continued lo make necessary improvements lo Hall Close. Thè paths are still in the process ol being repaired, grab handles have been installed where requested and a couple of almshouses now benefit from wider front and rear stèps. The regular gardener Continues to rnaintain the grounds, and has recently planted the dozen assorted shiub5 we were gifted. The residents continue lo have their windows cleaned on the outside. The replacement boilers have improved the comfort of residents and reliability over the winter. Thè Quinquennial Survey ha$ still yet been carried out. Min¢r maintenance problems havè arisen over the past year and were all deall with immediately. Residents contact the Clerk directly in the event of a problem and there 15 8 good relationship between them and the Trustees. The Poors are sory to see The Reverènd Canon Sharron Cobum leavè, due to her promotion. She ha5 been a huge asset and much loved member ol the Trustees. Her placè is being taken by her husbar)d. Rev Dennis Coburn, and the Trustees look forward to working with him.
Brandon Poor's Estate Trustse's annual report l¢ontinuedJ Year ended 31 March 2024 Financial review The results for the year are set out in the statement of financial activities. The income of the charity remained consistent at £26,453 12023.. £23,339), which after deducting charitable actiwty costs cleated net income before revaluation of £8,082 12023.. £201. Other recognised gains on investments in the year amounted to £53,088 12023.. losses of £3,160} which when cornbined with the net income before revaluation, resulted in a nèt surplus of £61,17012023.. defieit of £3,140) for the year. The valuation movement repTe5enls thè majority of the over811 movèment in the year. whlch in the context ol the current economic climate, is considered by the trustees lo be in line with expectations. Reserve$ Total unrestricted 31 M8ich 2024 £487,710 12023.. £428,453) of which £418,291 12023.. £373,116) is designated in iéspect of the Chaiilablè Fund property reserve. extraordinary repair reservè and the cyclical repair and maintenance reserve. The freè reserves al 31 March 2024 amounted lo £71,419 12023.. £55,337). Thè designated funds arè available to meet unforeseen costs for maintenance and major refurbishment and 15 reviewed annually. The Twslees consider that the unrèstricted funds are suffi¢ient to meet the day to day nèeds of the Charity. The adequacy of the reserves policy is rèwawad annually. Investment poli¢y The Trustees will take into ¢onslderation the social, environmental and ethical stance of all investments il rnakes. Spèelflc Invesbment powèrs The Trustees are empowered by the Chaiity Cotnmission Scheme lo let the Estate's lands not requiied to be retained or occupied for its purposes. The RSPB rents our Wash Lands adjacent to their Lakènheath ReseNe, the agreemènt expires in Oclobei 2028 and the Grazing Agreement for 8 Acre Piece in Brandon, first entered into in September 2020, has been renewèd for a further 12 months until January 2025. Plans for future periods The charity expects income and expenses to be relatively stable over the next twelve months and will look to continue lo maintain a high standard of repair of the alm5hou$ès in line with the objectives of the charty. The charity aims lo increase the returns tsn investments for the foreseeable future, to supplement foreseen expense and repaii costs and to maximisé the longevity of the charity. Trustees have increasèd thè Weekly Maintenance Charge annually since 2021 and will continue to increase in linè vAth government Teslriclivns. Trustees have commenced discussions to decide on how the Charity will manage work to upgrade the almshouses, Energy Perfomance Certificates in order to conform lo thè upcoming regulations. The alrnshouses are currently rated D and will need lo achieve C or above. It is estimatèd that the cost could be approximately £25,000 per property.
Brandon Poor's Estate Trustee's annual report (continuéd) Year ended 31 March 2024 structurè, gov•mance and managemènt Brandon Poor's Estate comprisès 8 numbèr of registered charities, as follows.. 1. The Poo¢s Eslale 2. The Charity of Ann Curtis 3. The Charity of Stephen Ashwell 4. The Hunt and Wilder Ch8Tity The purposes and administration of the Estate are regulated by a Charity Commission Scheme dated 9 August 1961, as amended dated 26 April 2002 and 22 January 2020. The registered number for charities 1-3 is 230855. Charity 4 is commonly referred lo as the JH Hunt and Ann Wilder Charity and is administered together with the other three. but has a separate registration number. 239975. The Pool's Estate is also commonly referred to as the Humphrey Hall and Wash Charities. Brandon Poofs Estsle is registered as a Registèréd Soctal Landlord with the Homes England, registration number A0644. Appointment, induetlon and training of trusteès Trusteès are appointed at the Annual General Meeting or by resolution of the Board of Tiustees. The number of Trustees shall not be less Ih8n the constitution wilhoul seeking approval from the Charity Commission or unless otherwise deleimined by an ordinary resolution of the Annual General Meeting. It is the policy of the charity to appoint new Trustees by personal invitation given knowledge of their skills and background. Entitlement to appoint Tiuslees, and the methods provided for such appoinlmenls. are as follows.. Ex-officio trustee.. By virtLJe of holding the appointment of Redor ol Brandon. Nominalive IruslÈÈs 121: On a vacancy occurring, thè Trustees are lo notify the Parish Council of Brandon Inow Brandon Town Councill. The Council de¢ided at an ordinary meeting who is to fill the vacancy. and notified the Ttustees. Thè duration of the appointment is 4 years. CTroptativ8 trustees151'. Se5ecled by the Trustees. and appointed by Ihern at a special meelsng for a te¥m of 5 years. Those eligible are persons rèsiding or carrying on business in or near Brandon. No one may act as Trustee before Signing in the Minute Book a declaration of acceptance of office and of willingness to act. Appointment, Inductlon and Training of TrustÈ•s Trustees are appointed al the Annual General Meeting or by rèsolution of the Board of Trust$ès. The number of Trustee5 shall not be less than the constitution withoLrt seeking approval from the Charity Commission or unless olheTwise delerrnined by an ordinary re501ution of the Annual General Meeting. It is the policy ol the charity lo appoint new Trustees by personal invitation given knowledge of their skills and background.
Brandon Poorfs Estate Trustee's annual report (wnlinuodj Year ended 31 March 2024 Ri$k management Managèment has revièwèd the rnajoT risks to which the charity is exposed. Where appropriate systems or procedures have been established lo mitigate the risks the charity faces. As is the case for many eharities. external funding Tepresents a risk to the stability ol the charity. True and fair override Thtr financial stsloments have been prepared lo give a 'lrue and fairf, view and have departed from the Charities IAccoLJnls and Reports) Re9ul8lions 2008 only to the extent required to provide a 'lrue and fair" view. This departure has involved following the Accountin9 and Reporting by Charities.. Statement of Recommended Practice applicable in the u.k and Republic of Ireland issued in October 2919 rather th8n the Accounting and Reporting by Charitiès.. Statement of Recommended Practicè from 1 April 2005 which has since been withdrawn. Independent examlner reappointmgnt A resolution to appoint L Thurston FCCA of Lovewell Blake LLP as independent examiner will be propo$$d at the next Annual General Meeting. The Iruslee's annual report was approved on 25J.Go1.)2. and signed on behalf of the board of Iruslees by.. J Brabbs Chairman The Reverend D Coburn Trusteè 4(L
Brandon Poor's Estate Independent examinerfs report to the trustees of Brandon Poor's Estate Year ended 31 March 2024 I report to the charity Iruslee on tny examination of the financial stslèments of the charity for the year ended 31 March 2024 which cornpri5e the slalement ol financial aclivilie5. balance sheet and the related notes. Rèsponsibilities and basis of report As the charity'5 trustee YOU 8TÉ responsible for the preparation tsf the financial statements in accordance with the requirements tsf the Charities Act 20111.lhe Acl'l. I report in spect of my examination of the eharitls financial statements cariied out undèr section 145 of the Act and in carrying out my exarninalion I have followed all the applicable Directions given by the Charity Commission under section 14515}Ibl of the Act. Indepttndènt examlnerfs statement I have completed my exarninalion. I confirm thal no material matters have come to my attention in wnnection with the examination giving mè causè to believe that in any material iespect.. accounting records were not kept in re5peet of the charity as required by section 130 of the Act", or the fin8n¢ial slalemenls do not accord with Ih05e records., or the financial 8tstsTnents do not Comply with the applicable requiiemenls concerning the form and content of accounts set out in th8 Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accoun15 givè a 'tiue and fair. view which is not a mattel considered as Part of an independent examination. I have no concerns and have come acTOSS no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the aocounts lo be reached. Your attention is drawn lo the fact that the Charty has prepared the a¢¢ounls (financial statements) in accordance with Accounting and Reporting by Ch81ilies." Ststement of Recommended Piactice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the A¢¢ounting and Reportino by Charities". Stalemenl of Recommended Pia¢tice issued on 1 April 2005 which is referred to in the extant regulations bul ha5 since been withdrawn. l undèrstand that this has been done in order for the accounts lo providÈ a true and fair view in accordance with the Generally Accepted A¢Gounting Practice effective for reporting perfods beginning on or after 1 January 2015. ,/./.. L Thurslon FCCA Independent Examiner Lovewell Blakè LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA
Brandon Poor's Estate Statement of financial activities Year ended 31 March 2024 2024 Unrestricted Endowment funds funds Totsl funds 2023 Total funds Nots Income Income from charitable activities Investment income 24,424 2,029 24,424 2,029 21,913 1,426 Totsl income 26,453 26,453 23,339 Expènditure Charitable a¢livilies 18,371 18,371 18,371 23.319 Total expend5ture 18.371 23,319 Net income beforp transfer of funds 8,082 8,082 20 Othèr recognised gain5 and losses Endowment Ilossesllgains from revaluation of investments Unrestricted Ilossesllgains from rèvaluation of inveslmenls 1,913 1,913 117n 51,175 59,257 51,175 12,983) 13.140} Nèt movement in funds 1,913 61,170 Reconciliation of funds Total funds brought forward Total funds carrled forniard 428,453 56,876 485,329 488.469 487.710 58,789 546,499 485.329 Thè statement of financial activitie5 indudes all gains and losses recognlsed In the year. All income and expenditure derive from continuing activities. Th• notes on pages 10 to 17 form part of these financial 5tatsments.
Brandon Poor's Estate Balance sheet 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets Investrnents 10 26,987 463,521 28,190 410,433 490,508 438.623 Current assets Debtors Cash at bank and in hand 12 764 58,342 942 48.945 59,106 49,887 Creditors.. Amounts falling due withln one year 13 13,135} 13,1811 Nèt eurrent assets 55,991 46,706 Total assets les5 currertt liabllltles 546.499 485,329 Net assets 546.499 485,329 Funds of the charity Endowment funds Unrestricted ftJnd$ 58,789 487.710 56,876 428.453 Total charity funds 15 546,499 485,329 These financial statements were approved by the board of Irustaes and authorised for issue on . . and are signed on behalf ofthe board by.. J Brabb5 Chairman The Rèverend D Coburn Trustee 4cL The note¥ on pages 10 to 17 fomi part of these financlal statements.
Brandon Poor's Estate Notes to the financial statements Year ended 31 March 2024 Gènèral Infomiatlon The charity is a regisleied charity in England and Wales and is unincorporatsd. The address of the pdncipal office is 3a Hall Close, Coulson Lane, Brandon, Suffolk, IP27 OHU. The accounts deal with Brandon Poorfs Estatè group of charities, incorpoiating the following:_ Hurnphrey Hall and Wash Chaiity Ann Curtis Charity Stephen Ashwell Charity J H Hunt and Ann Wilder Charity The Estsle is a Registered Provider of Social Housing IRPI and is also gIstered with the Charity Commission. Statement of ¢ompliance The charity constitutes a public benefit entity as defined by FRS 102. The financial slalernents have been prèpared in accordance wtth Accounting and Reporting by Charities.. Statement of Recommended Practice 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 Ropubli¢ of Ireland IFRS 102), the Charities Act 20118nd UK Generally Accepted Accounting Practice. The financial slalements havè bèen prepared lo give a Ituè and fairf wew and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a 'lrue and fail view,. This departure has involved following the Accounting and Rèporting by Charities.. Slalemenl of RÉcotnmended Practice applicable to charities preparing their aecounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recomrnended Practice effective from 1 April 2005 which has since been withdrawn. Accounting policie Basis of preparation The financial statements have been prepared on the hisloriGal cost basis, as modified by the revaluation of Certain financial asset5 and liabilities and investment propÈrtiÈs measured at fair value through income or èxpenditure. The financial statements ale prepared in slerfing, which is the functional currency of the entity, and rounded to the nearest pound. Going concern The financial statements have been prepared on a going concein basis as the trustees believe that no material uncertainties exist. The Iruslee5 have considered the lèvèl of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted incorne and expenditure is sufficient with the level of reserves for Ihe charity to be able lo continue as a going concern. Income tax As a registered charity, the activities are exempt from United Kingdom Incorne and Corporation taxation, provided that the income Is applied to ch8rilablÈ purposes. 10
Brandon Poor's Estate Notes to the financial statements (Continuod) Year ended 31 March 2024 Accounting policies (contlnued) Fund aeeountlng Unrestricted funds are available for use al the discretion ol the trustees in furtherance of the general objectlves of the ¢harity which have not been designated for other purposes. Designated funds aré part of unrestricted funds which have been earmarked by the trustees for a particular purpose. Such designations may be reversed by fulurÈ decisions of the trustees. Expenditure cannot be directly sel against designated reserves bul is taken Ihrou9h the Income and Expenditure account. A transfei is then made from designated reseTve5 a5 appropiiale. The Charitable ftjnd property reserve repie5ents th81 proportion of the cost of properties which was financed from the Estate's own resources. The Ch8rilable fund property reserve also includes depreciation equal to loan paYmentS provided in previou5 ye8rs. Income includes accommodation and heating contributions (net of losses frorn voids) receivablè from tenants tsf the almshouses, together with donations ieceived. Expèndlture Expenditure is recognised on an accruals basis as a liability is incurred. ExpenditLJre includes any VAT which cannot be fully recovered, and is classified under headings of the slalemènt of fin8nci81 activities to which it relates. Charitablè expenditure comprises those costs incuired by the charity it the delivery of its activitie5 and seNices for its beneficiaries. All support costs are attributable to the charities, m3in activity of alrrshouse provision. All costs are allo¢aled belween thè expenditure categories of th8 statèmènt ol financial activities on a basis designed lo reflect the use of the rgsource. Tangiblè assèts Tangible 3SS&ts are initia51y recorded al cost. and subsequently staled at cost les5 any awumulaled depreciation and impairment losses. Any tangible assets cartied at revalued amounts are recorded at the fair v8lLJe at the date ol revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the Statement of financial aclivilie5. A decrease in the cairying amount of an asset a5 a result of revaluation, is recognised in other recogni5ed gains and losses. exeept to which it offsets any preMou5 revaluation gain, in which case the loss is shown within olhèr iecognisèd gains and losses on the statement of financial activities. The Estate's almshouses are stated at cost of ¢onstruction including architects. fees and are depreciated in line with the depreciation policy below. Deprèciatlon Depreciation is cal¢ulated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of th81 assèt as follows-. Fixtures and fittings 15014 Straight line 11
Brandon Poor's Estate Notes to the financial statements fcontlnued) Year ended 31 March 2024 Accounting policies ftontln£téd) prèelation l¢ontsnuedJ No depreciation is charged on the Housing propèrties hèld f()r ¢haril8blÈ purposes as rt is maintained lo a high spècificali()n. The truslèÈs are of thè opinion that the depreciation charge and accumulated depreciation would not be material because the asset has a very long useful life. Inve¥tmnts Fixed asset investments are initially recorded at cost, and subsequently sted al cost less any aceumulated imp8irmenl losses. sled investments are rneasured al fair value with changes in fair value being recognised in profit or loss. Investment property The Estate owns the freeholds of about 25 a¢res of farmland, which produces income from letting. There is no iewrded cost. but. in accoidance with cuirent accounliny praclise for investments, the trustees include Ihe18nd in the accounts al their estimate of ils realisable value. Flnanelal Instrumènts A financial asset or a financial liability is recognised only when thè èntity becomès a paty lo thè contractual provisions of the instrument. Basic financial instruments are initially ie¢ognised at the amount receivable or paable including any ielaled transadion costs, unless the ariangement conslilule5 a financing transaction, where it is iecognised al the present value of the future paymen15 discounted al a market rale of interest for a similar debt inslrumenl. Current assets and current liabilities are subsequently measured at the cash or other ¢onslderallon expected to be paid or received and not discounted. Debt instruments are subsequently moasuTod al amortisgd cost. Income from charitable a¢ti¥ltl•s Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Accommodation contributions Service charges 18,600 5,824 18,600 5,824 16,089 5,824 16,089 5.824 24,424 24,424 21,913 21,913 Investment income Unieslriclèd Total Funds Unie511icted Total Funds Funds 2024 Funds 2023 Rents receivable sled investments 1.320 709 1,320 709 1,040 386 1.040 386 2,029 2.029 1,426 1,426 12
Brandon Poor's Estate Notes to the financial statements Itantsjtrued) Year ended 31 March 2024 Expenditure on charitable activities Unrestricted Total Funds Unieslrictgd Total Fund5 Funds 2024 Fulld5 2023 Maintenance costs Service costs Support ¢osts 5,584 8,416 4,371 5,584 8,416 4.371 10,226 8,482 4,611 10,226 8,482 4,611 18,371 18.371 23,319 23,319 Analysis of support costS.' UnreslTicled Total Fund$ Funds 2024 Unreslricled Total Funds Funds 2023 Independent examinalign fees other office c051s Clerks pay and expenses Depreciation 1.410 634 1,124 1.203 1,410 634 1,124 1.203 1,680 997 1,433 501 1.680 997 1.433 501 4,371 4.371 4,611 4,611 Net income Net in¢ome is stated after ¢hargingllcreditingl'. 2024 2023 Depreci8lion of tangible fiyed assets 1.203 501 staff costs 2024 2023 Wages and salaries 1,124 1.433 The avaragÈ hèad count of employees during the year was 1 12023.. 11. No ernployee received ernployee benèfrts of morè than £60,000 during the year12023'. £Nill. Trust8• r•muneration and •xpens•s During the year the amount paid lo trustees in respect of remuneration. benefits and expenses was £Nil12023.' £Nill. 13-
Brandon Poor's Estate Notes to the financial statements (continued) Year ended 31 March 2024 10. Tangible fixed a$sets Hou$ing Fixtures and properties fittings Total Cost At 1 April 2023 and 31 March 2024 Depreciatio At 1 April 2023 Chaige lor the year At 31 Mareh 2024 20,670 9,932 30,6D2 2,412 1,203 2,412 1,203 3,615 3,615 Carrying amount At 31 Mareh 2024 20.670 6,317 7,520 26.987 Al 31 March 2023 20.670 28,190 Thè freehold on the Almshouse5 is owned by the Estate. 11. Investments Listed investments Inve51menl propertie5 Total Cost or valuation At 1 April 2023 Additions Fair value movements 378,933 31,500 410,433 45.088 8,000 53,088 At 31 March 2024 424.021 39,500 463.521 Impa4mient At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 424,021 39.500 463,521 At 31 March 2023 378,933 31.500 410,433 All inveslmenls shown abtsve are held al valuation. Investment prop•rti•s Th8 estate owns the freeholds of about 25 acres of farmland. which produces income from letting. There is no recorded cost for the lènd, but, in accordance with Quint accounting practise IOT investments, the trustees include the land in the accounts at their estimate ol ils realisable value. 14-
Brandon Poor's Estate Notes to the financial statements icontinued) Year ended 31 March 2024 11. Investments (conlAnued) Financial a$$•ts held at fair value Individual investments held at 31 March 2Q24 which are over 5°A of the total portfolio by value are.. 2024 2023 1,533.81 units COIF accumulated units 394,291 351,116 The fair value of listed investmènts is dÈtÈmin@d by refarènca to th& quoted priee lor idantical assets in an active market at the balance sheèt date. 12. D•btors 2024 2023 Trade dèbtors 942 13. CMditots- Amounts falling duè wlthln onè yèar 2024 2023 Accruals and deferred income 3.115 3,181 14. Delerr•d Income 2024 2023 Al 1 April 2023 Amount released to income Arnounl defefred in year At 31 March 2024 1,501 11,5011 1.525 1,260 {1,2601 1,501 1,501 1.525 15-
Brandon Poor's Estate Notes to the financial statements (¢ontineJedJ Year ended 31 March 2024 15. Analysis of charitable funds Balance at 1 Apr 2023 Gains and Balance at Ilossesl 31 Mar 2024 Income Expenditure Transfers Unrèstrictsd funds General funds 55.337 26.453 {18,3711 8,000 71,419 Designated funds Charitable fund property resetve Extraordinary repairs reserve Cyclical repair5 and maintenance reseTve 21.000 21,000 351.116 43,175 394.291 1.000 1.000 428,453 26,453 118,371} 51,175 487,710 Endowmènt funds Investment reserves $6.876 1,913 58,789 546,499 485,329 26,453 118.3711 53,088 Balance al 1 Api 2022 Gains and Balance al Ilosse51 31 Mar 2023 InGorne Expendituie TTansfers Unrestrietèd funds General funds 55,317 23,339 123.3191 55,337 Deslgnated funds Charitable fund property reserve Extiaoidinary repair5 reservè Cyclical repairs and maintenance reserve 21,000 21.000 354,099 12,983} 351,116 1,000 431,416 1,000 23,339 123,3191 12,9831 428,453 Endowmont funds Investrnenl reserves 57.053 11771 13.1601 56,876 488,469 23,339 {23,3191 485.329 16-
Brandon Poor's Estate Notes to the financial statements (¢onllnued) Year ended 31 March 2024 The naluie and purpose of the designated and endowment funds are a5 follows.. Charitable fund property reserve - represents the proportion of the Ihe Cost of properties which was financed from the Estates own resources, hèld aside for future rèpaymènt. Extraordinary repairs rÈserve- reprèsènts funds designated for extraordinary repair or improvement ol almshouses. Cyclical repairs and maintenance reserve - represent funds set aside for the expected future repair and rnainlenance costs on a short term cydical basis. Investment resètvès - rapresent funds held inlinè with the endowrllenl foi the long term prosperity of the charty. 16. Analysls of net assets bètsvèen funds As at 31 March 2024 UnrèstTi¢ted Endownmenl Totsl Funds Funds Funds 2024 Tangible fixed asse15 Investments Net current assets 26.987 433,792 26,931 26,987 463,521 $5.991 29,729 29,060 N•t Ass•ts 487.710 58,789 546,499 As at 31 March 2023 Unie51ricled Endownmenl Total Fund$ Funds Funds 2023 T8ngible fixed assets Investments Nel current assets 28,190 382,616 17,647 28,190 410.433 46,706 27,817 29,059 Net Assets 428.453 56,876 485,329 17. Related p8rties Other than if els6wh&re dis¢losed in the a¢counl$. there were no related party Iran5aclions in this or the Prior period. 17-