Report & 5tht¢ty¢hts for the Year Ended 31° Dectmb¢r 2021 for ThtrTeTrby Reikfkn N¢¢d PtllslonJ Charlty Ch*rlty Number. 231233 Ashmole & Co chart¢T￿l Cerrified Accountaft15 Williamston House 7 Goat Sireel Haverfordwe51 M￿&CO. The Tenby Rellef ID Need and P¢nslons Ch8rlty Contemts oftbe Finaxcial StatemeDts for the Ye#r Ended 319¢ Detember 2021 Charity infonn￿l0￿ 'rrustees Report Stst¢m¢nt of T￿$t￿ R¢sponsibilities Report of the Ind¢pend¢nt Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8- 11 The Tenby Relief In Need and Pen3ioD5 Ch*rity Ch•rfty Inforniatlo for th¢ Year ¢nd¢d 31st December 2021 REGISTERED CIIAIUTY NUMBER: 231233 TRUSTEES.. Mr C. Hugl Mrs S. Williarn5 MrC.R. Wvbb Mr R. Gri8g Mrs M.A. Cray Mrs K.A. Durham Mr$ E.M. Crai8 Mrs E. Powling MrsS.L MrA.J. Davies MrP. Smiih CHIEF ADMINISTIL4TOR'. Mr C. Mathi&% ADMtNISIRATIVE OFFICE: cjo Ixwi4 Lewis & Co Ck¢shlr¢ SOLICITORS.. Lewi8, L¢wi5 & Co County Chami￿$ Pentre Road SL.Clears CArm)Jthen SA33 4AA INDEPENDEhFT B￿M[NEIl. Ashmol¢ & Co willia￿￿tan House 7 Goal Str¢¢i Haverfordwe5t P¢mbrok¢yhiTC SA61 IPX The Tenby Rellefin Need Mud P¢JJ8lonJ Charlty Report of the Trusteej for tho year tnded 3111 December 2021 The tsustees present their r¢port with the financial stat¢m¢nts of the charity for th¢ year ended 31" D¢cemb¢r 2021. The trustees have adopted the provisions of A¢counrin8 8Dd Reporting by Charities: Statsment ofRecotnmended Practice applicable to ch￿1t]eS prepaTin8 their accounts in accordan¢¢ with the Financial Reporting Sthndard for Smaller Elltlti￿ (the FRSSE) (effective l January 2015) and Charities A¢t 2011. STRUCTURE, GOVERNANCE AND MANAGEMENr This is an unincorporated Lsso¢iation governed by a Charity Commission Scheme made on ihe 8, February 1978 following th¢ wnalgamalion of 21 separate funds based in Tenby. the oldest of which was cr¢ated in 1581. Tho trnstees consist of six nominative trust¢¢s appointed by the town ¢ounGil olT¢nby and nine (boptative trnstees. Nominative trustees are appointed to 5¢rv¢ for a p¢riod of four y¢at5 and o-optative for a Feriod offive years. by resolulion of the Trustees at special meetings. Trustees ar¢ selectsd based upon the individuals personal or professional qualifications which are considered lo be beneficial to the future direction of the charity. A sub Gommittee made up of six nominated trustees reviews each application mad¢ to the ¢harily. The Sub committee wtll then fftEport bacl and make recommendations to the full committee of bustees. A full list of Truste¢s during the year is pres￿ted on page l. T￿Ste¢S responsibilities are listed on pag¢ 4. ORJEffIVES AND AcnvrrtES Its object is to relieve persons resident in the ¢ommunity of Tenby who are in condition of nced, hardship or di5tstss by paymeftt of pensiOIIS OT payment for it¢ms. Servi￿ or facilities calculat¢d to reduce such need, hardship or distr¢55. ACHIEVEMENTS AJYD PERFORMANC During the ￿ar the charity has been able to ￿ntinue its provision of relief payments to pensioners in the Tenby community. to achieve its objective to reduce hardship or distress. FIF4ANCIAL REVIEW AND RESERVES The results for th¢ year and the financial position for the charity are presented in the financial sralements on page six to seven. Income for the year increased by £3.362 to £32,147. Relief payments decreased by £1,961 to £22,003. Stock maTket ￿rf0M78n¢e during the year produced an unreali5ed ptofit on investments of £48,591. The overall result of this activity WAS to irtcrease the r¢s¢rv¢s available to the charity by £62.709. The Tellby Rdkfill Ne¢d and PeDSiODS Charity Report of the Trusiees for the year ended 31" December 2021 In setting their r¢serv¢s the Trnstees.. (a) feel that there should b¢ reserves to cover one yeaTS ￿nSIOnS in th¢ event of any calamity. aud (b) are aware tliat they have eontinuing r¢sponsibilities tn regards to the maintenance and repair of their properties. Th¢ trustees need to maintsin a general reserve equivalent to on¢ years p¢nsion payments. In addition. an Extraordinary Repair Fund is designated in ord¢r to meet the cost of unforesee property repairs. The Pemianent Elldowm¢nt represents the Properties and investm¢nts from which income is gen¢rat¢d for charitsble purpos¢s.' if the properties are sold the charity must invest the proceed5 as part of the PerniatJ¢nt Endowment. lttvestment P(bwevJ The governin8 d￿Ument provides that all wh b¢longin8 to th¢ ¢harity and not needed for immediate workin8 purp05¢5 shall be invested in the nam¢ of the Official Custodian unless the Charity Commissioners direct otherwise. GrAnt MaklD Pollev and Grant ADal ' Applications for support are ass¢8s¢d on n¢¢d and the age of the applicant with a tend¢n¢y to favour older applicants. Once a grant has been agreed il would nornially continue ft)r th¢ lil¢ of ihe Exneficiary. During the yearthe grant awards remained at£1 7 per month and are all niade to individuals. Individuals also r￿e1ve a £20 bonus at Christmas. Durin8 the year grants were made to some 120 persons. Rlsk Review The Trusices have a duty to identify the major risks to which the charity is exposed and to ensure appropriat¢ ¢ontrols are in place to provid¢ r¢a50nable a55uranc¢ a8ainstfraud and error. We have ¢xamin¢d the major strategic busin¢ss and operational risks which the charity faces and confm that systeTll5 have been established to enable re8uIAr reports io be produ¢¢d so th* the necessary steps be taken to lessen those risks. For and on behalf of the trnstees. Date.. Mr C. Hugh¢s- Chai on The Tenby Reli¢fin Need and Pensions Cb*rity Report of the Trustees for the year ended 31It December 2021 rATEMEIYT OF TRUSTEES RESPONSIBILTfiES The trust¢¢s ar¢ responsible for preparing the Report of the Trustees and the f￿anCIal staternenls in a¢wrdance with applicable law and Untted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ti¢¢). The law appli¢able to charities in England and Wal¢& the ChaTlties Act 2011, Charity (Accounts and R¢ports) RegUl￿lOnS 2008 and the provisions of th¢ trnst deed r¢quires th¢ trustc¢s to prepare financial sthtements for each financial year which give a trn¢ and fair vi¢w of th¢ $tai¢ of affairs of the charity and of the inwming r&8ources and application of resources. including the incom¢ and ¢xpenditure, of the charity for that period. sutplus or deficit oFth¢ Chatiiy for that period. PTeparing those financial statements. th¢ trust¢¢5 ar¢ required to: s¢l¢¢t suitable accounting policies and apply them con515t¢ntly. make judB¢m¢nts and estimates thai ar¢ reasonable and prudent. (iii) prep￿¢ the financial statements on th¢ going concern basis unless it is inappropriate to presume that the charity will Continue in bUsin￿s. (iv) The trust¢¢s are responsible for keeping pmper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensur¢ that the financial statements comply with applicable Accountin8 Stsndards and the regulations made undvthecharities A¢1 2011, the Charity (Accounts and Reports) Regulations 2008 and the provision of th¢ irust deed. They ar¢ also responsible for safeguarding the nssets of th¢ ¢harity and hence for ¢oking reasonable steps for the prevention and d¢t¢ction of fraud and othu itr¢gulariti¢s. obsetve the m¢thods principles in the Charity SORP. On behalf of th¢ trustges Mr C. Hughes- Chaityernon Date:..... Report of lh¢ IDd¢pendent Exanjiner to th¢ Trustees of The Tenby Rellef in Iyeed and PeDsion$ Charlty We have examined. withou¢ ¢arryin8 Out an audiL the accounts for the year ended 31 December 2021 set out on pag¢s six to eleven. These finan¢ia] slat¢m¢nts have tyeen prepared under the hi$lori¢al cost convention and a¢¢ounling policies set out therein Respective re$poM8ibilities of the ehlrlty's trust¢es And examlner As described on page two the charity's trustees are responsible for the pr¢paration of fjnancial statements in accordance with applic&ble law and United Kingdom Accounting Stand)rds. The charity's truste¢s ￿nsIderS that an audit is not r¢quired for thi5 y¢ar (under section 144(2) of the Charities Act 2011) and that an independent èxamination is need¢d. It is my responsibility to- examine the accounts under section 145 of the Charities Act 2011: to follow the proceduTes laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act- and tts state whether particular matters have come to my attention. Basi3 of independent examiners report My examirftation was ¢arri¢d out in accordance with the Generdl Directions giv¢n by the Charity Commission. An exAmination includes & r¢vi¢w of the accounting re¢Drd5 kept by the ¢hartty and a comparison of the accounts presentrd with those record5. It also includ¢s consideration of any unusual items or disclosures in the aLxounts. and the seekin8 of explanations Irom you as the committee ol mart8g¢ment concerning such matters. The proc¢dure$ und¢rtaken do not provid¢ all the evidence that would be required in an audit and, cons¢quently> we do not expr¢ss an audit opinion on tho vi¢w giv¢n by th¢ &c￿U￿t5. Jndependent Examlner8 Statement In the cours¢ of my examination, no matter h&8 come to my attention., which gives me reagonxble cause to believe IhaL in any material r¢specL the trustees hav¢ not Inet the requir¢m¢nts to ensur¢ that.. proper ￿COUnting records are kept in a¢¢ordance with section 130 of the Charities Act 2011.and &ecounts are prepAred whi¢h agree with the ac¢ountsng record and lo comply with th¢ accounting rtyuirements of the Charities Act 2011 have not been met. or which, in our opinion. attention should be drawn in order to enabl¢ a proper ullderstaTtding of th¢ acwunts to be reached. .3.ly adham F.C.C.A Ashmol¢ & Co. Chartered Certified Accountants Williamston House 7 Goat Street Haverfordwest Pembrokeshire SA61 IPX THE TENBY RELIEF IN NEED AND PENSIONS CHAR]TY STATEMENT OF FIFIANCIAL ACTIVITIES for the year ended 31" Deeember 2021 Vnr¢s¢rld¢d Y¢rmHn¢nt u￿reStrICted ExtrAordlngry EndDwm¢nt General R¢pAir F￿thd Totsl 2021 Totsl 2020 Inrorning Re50urees I￿OrnI￿8￿￿￿O￿￿c￿fv￿ generaiedftthdv Investment kncome Bank Interest Building So¢iety lttt¢r¢st Incoming rejourceslrom clktriiable a¢ilvhl¢s Rent Received 18.049 18.049 19.349 14.096 32,147 14.096 32,147 9,425 28,785 Toial thcomthgresovrco% Resources Exptndtd PeD5ions. Cash, Benefits Clerks Salary InSura￿e$ Profrssional Fees Repaits & Renewals SuTHlry ExpEns¢$ Rent 22,003 (6.0 609 421 294 22,003 (6,000) 609 421 294 23,964 6,000 592 918 199 300 17.327 31.973 Governante Costs Th￿1¢¢ Expejises Independent Examin&tion 351 351 702 702 351 351 702 702 rotalt¢sour¢¢s expended Net Ineomingl{outgoiDg) re50urtes b¢for¢ revaluatiOnS 17,678 3SI 18.029 (14.469) (351) 14.118 (3,89)) Oth¢r R¢w)gDls¢d Galths *nd ￿$S¢S UDrealis¢d ILoss¢sYGain on Invesrments 6.706 41.885 48,591 48,591 (31,903} (31,903> Mov¢menl ofFundT 6.706 41.885 Net incomin81(outgoiTrg) resoyrc before r¢v#l￿atIOns 14,469 706 41 35.7931 Reconciliation of Funds Funth Brought FoNard Total Funds Carrigd Forward 39,224 63.643 757,165 860,032 895,825 70 49 860,032 THE TENBY RELIEF IY4 NEED A[￿ PENSIONS CHARtTY Balanee Sheet at 31" December 2021 2021 2020 Note FIXED ASSETS Tangible FIX￿ A55ets Investments 200.000 21X),000 626 019 826,019 874,447 CURRENT ASSETS Accrua In¢ome Abbey National Building Society BaThk D¢poslt A¢¢ount Cash at Bank- Account 5237 31,275 14,816 so 5074 31.275 11,143 50 47.542 CURREf4T LIABILITI Creditors and Acernals 13.529 NET CURREFrr ASSETS 48294 34,013 922,741 860,032 REPRLSENTED BY: Unrestricted Generdl Fund Unr¢5tri¢ed Extraordinary Repair Fund Pennaneni Endowmeni FurKI 53.693 70.349 798,699 39224 63,643 757.165 860.032 The financial statements on pages six to eleven were approved by the In￿e￿ 4)n the and signed on its behalf by: Mr C. Hugh¢s. Chairp¢rson Th¢ Tenby Relief in Need and Pensions Charity No¢es to the Financl&l Statements for ihe Year ended 31st D¢cember 2021 I. ACCOUNTING POLICJES Basis of Accounting The financial stai¢ments of the charity have been prepared in a¢¢ordance with the Chariti¢s SORP (FRSSE) 'Accounting and Reporting by Ch￿1￿¢$. Statement of R¢commend¢d Prdctite applicable to Charities preparing their accounts in accoTdane¢ with the Financial Reporting Standard for Small¢r Entities (the FRSSE) (effective l January 2015),, the Financial Reporting Standard for Smaller enrities (effective January 2015) and the Charities Act 2011. The financtal statements have b¢¢n prepar¢d under the historical cost convention with the ¢xception of investments Mthich are included al mark¢t valuc, ￿ modified by the revaluation of c¢rtain assets. Investments Investments are includ¢d at th¢ market value qu(rted as near as possible to the year end date, a5 advised by the asset managers acting on behalf of th¢ Trustees. The valuation adjustrnent r¢quir¢d each year is treated as an unre&lised gainl(losy) in th¢ stAtement of financial activities. Gains or105ses are only treated as realised upon the dtSFosal of an inv¢sttnent. Re8trieted, unrestrieted and de8ign#t¢d fuDd$ The &ccc>unts distinguish betwe¢n unrestricted reserves (The General Fund), d¢si8nated funds (The Extraordinary Re￿]r Fund), and Per￿￿ent endowment funds. Unr¢slri¢t¢d funds are th05e where there arè no externally imposed r¢stri¢¢ions on use, including thosc available to th6 chgrity for approprilltiort to Te5erves for internally designated purposes (designated ￿ndS). The pemionent endowment repTes¢nts the properties from which income is gen¢rated for charitable purposes. ifthese PToperti¢s are 501d the Chartty must invest the proeeeds as part of the pem)anent endowThent. Itteom¢ represents the amount derived from the charitys Ordinary activities. Income is a¢count¢d foron an accruals basi5 except for donations and invgstmenl income which ar¢ ￿Counted for when received. No income is stated net of any associated expenditure. R￿OgnItIOn of Liwbiliti¢3 Allora¢ion of Costs Liabilities ar¢ re¢ognised when there is a legal orconstructive obligation committing ihe charity to pay out resources. The mAjority of th¢ ¢o$ts are dire¢tly attributable to the objectives of thc Charity and are allo¢atsd accordingly. GOv¢M￿Ce costs include costs of the prepardtion And exLmination of stthtory accounts and the cost of any legal advice to truste¢s on gov¢mance or constLlutional matters. The Tenby Relief In Need and Pensions Charity Notes to the Financial Statements for the Year ended 31st Do¢¢￿ber 2021 2. NET RESOURCES AIUSING inc0mll￿ resources are ststed after ¢hargiu8.- 2021 2021 Accountancy Independent Examinevs fee 354 702 318 702 3. TRUSTKES REMUNERATION None of the trustees ￿ely¢d remuneration or expenses from the ¢harity durAng the year (2020 nil). There has be¢n no expendityre on trnstee indemnity insuran￿. 4. SiIPPORT COSTS Support costs comprise of the followin& 2021 2020 Clerks Salary Prof¢5sioual (6,000) 67 6,000 300 5. TAXATION The Tenby Relief in Need and Pensions Charity is a T¢gist¢r¢d charity and ac¢ordingly 1$ exempt from taxation on its income and gains where th¢y are applied for charitsble purpos¢s. & TANGIBLE FIXED ASSETS The following land and buildings are held in the name of the oificial Cust(NJian for Chariti in trnst to bc used in the pursuance of the charitable Activities of the Land and dw¢llin8 &t 12 Deer Park, Tenby Land and dwelling at 14 Deer ParL Tenby Land and dwelling at 5 South Par&de. Tenby IAnd at Lower Cwtn Park and Chapel Hill, Tenby 2021 2020 Ftt¢hold Propety The Freehold Properties have been valued at open market value by the trustees, after tsking &¢count of the tenanted nature of the properti¢s. The Tenby Relief in Need And P¢nsioDS Charity Notes to the Flnanclal Statements for the Y¢ar ended 314t December 2021 7. INVESTMENTS Mark¢t Value Market V#lu¢ Nominal Value CApfTAL ACCOUNT 1.121 31.12.21 31.12.21 31.1 46.953.500 46,953.500 65,035.8490 65,035.8490 BLK UK Bond Fund BLK UK Equity Fund 86,254 465.266 92,498 419.806 INCOME AC OUN 10.146.3310 10.146.3310 5.915.3130 5.915.3130 BLK UK Bond Fund BLK UK Equity Fund 18,639 19,988 612,477 570,475 RDINARY 152.8240 152.8240 2.299.4640 2.299.4640 BLK UK Bond Fund BLK UK Equity Fund 8.094 8,4Q4 47.140 55.544 61.970 674 447 626019 8. CREDITORS 2021 2020 Clerk's salary A¢countancy & Independent Examiners f¢¢ Pensions 6,000 2,029 5,51XI 3.084 io The Tenby Relief In Need and PeD8ions Charity Notes to the Flnancial Statements for the Yur ended 3AJt Decembcr 2021 9. NET MOVEMEwf ￿ FUNDS Unre5tritted Cener#l Fund UDrestriettd P¢rni&nent Extraordinary EAdowm¥AI Re￿Ir Fund Fund Totsl Ai 1st January 2021 39.224 63.643 757,165 860.032 Net m(Trvetnent of resources in year 14,469 6.706 41.534 62.709 At 3 1st DKember 2021 70 49 798 699 922 741 ANALYSIS OF NKT ASSETS BETWEEN FUNDS Unrestricted Unregtrict¢d Perman¢nt General Extr8ordinary Endowment Fund Fund Total Fiy.¢d Asse Cash at Bank & other income Rent Received in Advattee Creditors 5,043 51,378 70.349 799,055 874.447 51.378 356 798 699 922 741 Permanent Endowment Fund The fund repr¢sents thc original capitsl of the ¢harity at net book value. All income g¢nerdted frotn th¢ ¢ndowment 1$ credited to the General Fund which must be utilised in Accordance with the ¢haTitable objective.