R¢port & TrlnautlAI Stateoents for the YtAr Ende4131 D•ccmb¢r 2022 for Tht Tellby Rellef N¢Ed ond Pensions Charity Ch•rlty Numb•r. 231133 A5hmok & Co Ch¥tered Certifi¢d Accountants Williamston House 7 Goèi Street Havcrfordwr4¢ AsPrnok&Co.
The Tenby R¢Mefin Need And P¢ns5on$ Ch#rlty Contents oftht Financlal Statements for Ihe Year Ended 31st De¢¢mber 2022 Charity hrfomlatiom TsleeS Reporr Statement of Tntsteu Responsibilities Reportof the Independent Examitier Statement of Financial Activities Balance Sheet Note5 to the Firtancial Statements
The Tenby Reltef Ill Need an41 Pensions ChArity Charlty Information for the Y¢*r ended 31$¢ December 2022 BEGISTEReD CHARITY NUMBER: 231233 TrUSTEES.. Mr C. Hu£hes Mrs & Williams Mr C.K Wd)b Mr K Gri¥8 Mrs M.A. Crny Mr5 K.A. Dwham Mrs Crnig Mr5 E. Pow]8 It5 S. Lane Mr A.J. Davics Mr P. Snjith Mr M. Ronowirz CHIEF ADMISTRATOR. Mrc. thI& ADMtNTSTRATIVE OFFILE: clo LewL5, L¢wi5 & Co County Ch8Mbers Pcntr¢ RtsÈd St. Cle3 Carmarthen SA33 4AA BANKERS: Bwlays Bonk Tenhy P¢mbrok¢shiYe SOLICITORS: L¢wi4 Lxwi%& Co CountyChamb¢rs Pentre RoAd St. Cl¢ars Carmarthcn SA33 4AA Ashmole & Co Williarr1¢ House 7 Goat Str¢¢t Havcrfordwr51 P¢mbrok¢shire SA61 IPX
The Teoby Re]l¢f In Need And Pens$ Ch*rity Report of tbe Trustee8 for the year eDd¢d 3J" De¢¢mber 2022 The trustees present theiT r¢port with th¢ financial statements of th¢ charity for the year ended 311t December 2021. The trust¢¢s have adopted the provisions of Aocouniillg and R¢porting by Charities: Statement of Re¢o]nme]Ml¢d Practice applicable to charities preparing their a¢eounts in ac¢oTdan¢e wsth th¢ Financial Reporting Stsndard for Smaller Entities (the FILSSE) (effective l January 2015) and Charities Act 2011. STRUCfUR£, GOVERNANCE AND MANAGEMENT This is an unincorporated association governed by a Charity Commission S¢heme mad¢ on the 8 Febrnary 1978 following the amalgamation of 215eparate funds b&sed in Tenby. the oldest of which wa5 crnat¢d in 1581. The trnstees consis¢ of sixnominative trust¢es xpN)intd by the town council of Tenby and nine ¢O-OPtative trustees. Nominative trustees are appointed to serve for a p¢riod of four rS and c(Foptative for a Feriod of five years. by rebolution of the Truste¢s at special meelin8s. Trust¢¢s are selected based upon the individuals p¢rsonal or professional qualifications which are considered to bc beneficiAI to the future direction of the charity. A sub ¢ommitt¢¢ made up of six nominated trust¢¢s reviews ¢xh application mlde to the charity. The sub committee will then report baok. and make re¢omm¢ndations to the full ¢ommitte¢ of trustees. A full list of Tru5t¢E5 during th¢ year is FYes¢nt¢d on page l. Trustees responsibilities are listed oll page 4. OBI£CTIVES AND AcfiviTIES Its object is to relieve p¢rson$ resident in the community of T¢nby who are in condition of need, hardship or dislress by pyment of pensions or payment for items. services or facilities Calculated tr) rduc¢ such need. h4rdship or distress. ACHIEVEMEfws AND PERFORMANCE During the year the charity has be¢n able to continue its provision of relief paymet]ts to nsioner5 in the Tenby ¢ommunity. to achieve its objectiv¢ to reduce hardsbip or distress. FtNANCL4L REVIEW AND RESERVLS The results foT the year and the financial position for th¢ ¢harity are pr¢settted in the financial 5tatsrnent5 on pa8¢ Six to seven. Incom¢ for the yeAr increased by £8.745 w £40,892. Reli¢f payments increased by £1,569 to £23,572. Sto¢k rnark¢f p¢rforn]llnce durin8 the year wodu¢ed an unrealised loss on inve5tm¢nts of £40,775. Th¢ ov¢rall resuk of this activity was to decr¢ the reserves avatlabk to the chariry by £32.571.
The Tellby Relief in Need and P¢DSiOllS Charlty Report of the Tru8ttEg for the yeAr eoded 31" Deeember 2022 In setting th¢ir r¢s¢rY¢s tlie-fiu5t¢¢5." (a) f¢¢1 thai ther¢ should be reserves to cover one Yr5 p¢nsi¢)n5 ID the ¢vent <rfany calamity. (b) are aware that they h8vc continuing responsibilities in regards to th¢ maintenance and repair of their properti. The trustees need to maintain a general res¢rY¢ equivalent to one years pension payments. In addition. an Extraordinary Repair Fund 15 designated in order to meet the cost ol unforeseen property r¢pairs. The Pemianent Bndowment represents the properties and investments from which income 1$ 8enerated for charitable purposes. ifthe proF¢rti¢s are sold the charity must ujvest the proca$ as part of th¢ Pemianent Endowment. Investment Powers The gov¢rning document provides that all c&sh belonging to the ChltY and not needed for immediak working purposes shall be invested in the name of th¢ Official Custodian unless the Charity CLTrmmissioners dir¢¢'t otherwise. Grant M*kin Polic aDd r¥nt Anal Applications for 5UPPOrt are assessed on need and the age of the applicant with a tendency to favour older Applicants. Once a grant has E¢en 88re¢d it would nornially continue for the lif¢ ofihe beneficiary. During the yelkt the grant awards remained at £17 per month and are all mad¢ to individuals. Individuals also re¢eive a £20 bonu5 at Christmas. During the year grants we Inade to some 120 p¢rson$. The Twstees hav¢ a duty to identify the tnajoT risks to which the ¢harity is exposed and to ensure appropriate controls ar¢ in pla¢e ¢0 provide reasonable as5uranc¢ against fraud and error. We have examined the major strntegic busines5 and operational risks which the charity faces and confirni that systems have b¢en established to enable r¢gular reports to be produced so that the ne£essary steps Can be taken to l¢ss¢n those Tisks. For and on behalf of the trust¢es" Dat¢- Mr C. Hughes- Chairp
The Tenby Relief in Necd Ind P¢llsioM Charity Report of the Trustees for the year ended 31st D*¢¢mbcr 2022 STATEME[ OF TRUSTEES RESPONSIBILITIES The trustees are responsible for preparing the Report of th¢ Truste Hnd the fir)c1a1 ststements in accordan¢¢ with applicable law and United Ktngdom Ac£ounling Standards (United Kingdom Generally Accepted ArKounting Prtice}. The law appli¢able to ¢harities in England and Wale4 ihe Charities A¢t 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed r¢quires the Jstees to prepare financial stotements for each fiiiaD¢ial year which give a t and fair view of th¢ state of affairs of the clLarity and of the irtcoming resour¢¢s and application of sOUrc¢S. including the income and ¢xpenditure, of the ¢harity for that p¢riod. surplus or deficit of th¢ charity for that period. In preparing thos¢ financial statem¢nts, the trustees are r¢quired to.. (i) sekct suitablc ae¢ounting y)licies and apply them consistently. make judg¢ments and estirnates tbat are r¢LsonLble and prudent" (iii} prepare the financial stateTnents on the going concern basis unless it is inappropriate to pr¢5uni¢ th&t the charity will ¢ontinue in business. (iv) observe the methods and prin¢Aples in the Charity SORP. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any tiine the fmancial position of the charity and to enable them to eTrsur¢ that the financial statements comply with applicable Accounting Standards and the r¢gulations maik underthe Charities Aet201 I, the Charity (Accounts and R¢ports) Regulations 2008 and the provision of the trust deed. They are also TEsponsible for safeguarding the assets of the charity and hence for takin8 r&8sonable steps for the prevention and det¢ction of fraud and oth¢r irT¢gularities. Oh behalf of ihe tswstees Mr C. Hughes. Chairperson Date:
Report of the Independent Examiner to th¢ Tru$teu of The TeDby Relief in Need and Pen8ioDS Charity We have examined. without ¢arrying out an audiL the OAt$ for the yehr ended 31• Dernber 2022 set out on pages six to elevett. Thes¢ finen¢ial statements have been prepared under the historical cost convention and accounting poli¢ies set out therein Regpectlve r¢$ponslbllltlcs oftbe tharlty's trustees And QmIller As described on page two the ehariry's trustees are responsibl¢ for the preparation of finanrial ststements in a¢cordanc¢ with applicable law and United Kingdom Aecounting Standards. The charity's trustees ¢onsiders that an audit 15 not required for this year (undcr section 144(2) of the Chariti¢s Act 2011) and that an independent examination is needed. It is my r¢sponsibility to: ¢X&Tnine the accounts under s¢ction 145 of th¢ Charities Act 201 I. io follow the procedures laid down in the General Directions given by the Charity Commissioners under xction 145(5)(b) of th¢ 2011 Act. and to st&t¢ whether particular matters have come to my att¢ntion. B*si3 of indepenaent eiaminers report My examination was carried out in awTrrdon¢¢ with the General DiT¢Ctions given by the Charity Commission. An examination includes a review of the accounting re¢ixds kept by th¢ charity and a comparison of th¢ accounts present¢d with those records. It also includes ¢onsideration of any unusual it¢tns or disclosures in the cOUnts, and the seeking of explanations from you &8 the committee of manag¢ment concernin¥ 5u¢h matters. The procedut¢s undertaken do rtot provide all the cvid¢nce thrAt would be required in 8n audit and, consequently. wedo not¢xpress an audit opinion on the view given by the 8¢counts. llldependent Examlners Statsment In the course of my examination. no matter has come to my llttentioD" which gives me reasonable cause to believe th04 in Any material respecL the tNstee5 have not met the requirements to ¢nsure that.. proper acwunting records are kept in accordance with section 130 of th¢ Chariti48 Act 2011.and awounls are prepared which agree with the OUnting Tecord aDd to comply with the accounting requir¢m¢nts of the Charities Act 2011 have not beeii me¢ or to which. in our Opinio attention should be dravrn in order to enable a proper understanding of the accounts to be r¢a¢h¢d. .3.2LF Dat¢d:... l.D. B ham F.C.C.A Ashmole & Co. Chartered Ccrtifled Accountants Williatnston Hou5¢ 7 Goat Street Haverfordwest Pembrokeshire SA61 IPX
THE TENBY RELIEF IN NEED AND PEJYSIONS CHARITY STATEMENT OF FINANCIAL ACTIVITIES for the year end•d 31" Decembtr 2022 Vnr¢stri¢ted PermgneTrt Unrestrl¢t¢d Extrnordlnary Endowment G¢a¢r•l Fur•d R¢p8&r Fund Fund Totsl 2022 Tot41 2011 Incoming R¢3ourcfs Incomins ruourcesfrom g¢•2¢ro¢dfvp7ds Inve%lmgnt income Investment Income Bank Interesi Building Society Interest Incomlngresorff¢eJfpom ellaritable a¢tlviiies Rcnt ReceTved 20.459 25 20,459 25 18.049 20,408 40.892 20,408 14,096 32,147 Tolol incoming res(purc Rtsourees Expet)d¢d Chwiluble Auivilies Pen510D5. Casm Benefits Clert(s Salary Irksuranc Professional Fees Repairs & Rcntwals Sttndry Expense5 R¢nt 23,572 6.300 800 594 420 23,572 6,300 800 594 420 22,003 (6.ly)O) 609 421 294 300 300 31.986 17.327 Governance Costs Truse ExF¢nses lrtdependeni Examination 351 351 702 702 351 351 702 702 Tolol resources expend¢a Net intomlngl(•utgoing) re50urce$ before revaluations 32 351 32.688 8,5S5) (351) 8,204 14.118 Other RecogtJi$ed Calns and Losses Unrealised (Losses)IGain oo Investments (1.485) (1.485) (39290) (39290) (40,775) (40,775) 48,591 48,591 NvtMov¢met IAtomlnW(outgolng) Yesourc before rev8lu*iloms 8.555 Retollcbli8tion ¥>f FndS Flmds Brought Fonvard To/FlIrth Corri¢dForward 53.693 70J49 798.699 922.741 86Q.032 68 759,058 890 170
THE TENBY RELIEF NEED AND PENSIONS CHARITY Balance Sheet 98 at 31 D¢cember 2022 2021 Noie FIXKD ASSEIS Tan8ibl¢ Fixed Assets Investtnents 200,000 033 672 833.672 200.000 674 447 874,447 CURRENT ASSETS Accrued Income Abbey Nalion&l Building Society Bank Lkposit Account Cash at B?uk- Cwrent Account 5,731 31275 28,058 50 5237 31.275 14,816 50 51,378 CURRENT LIABILITIES Creditors and Ac¢rLthL8 3.084 NET CURRENT ASSETS 56.498 48294 890,170 922.741 REPRESENTED BY: Unrestricted General Fund UnresÉriced Extraordinary R¢paiT Fund PeThwl Endowmellt Fund 62248 68,864 759,058 S3,693 70,349 798,699 The financial statements on pag¢s SIX (o ¢levoD were approved by the trustees OD the.... and signed on its behalf by.. Mr C. Hughe5- ChaiTPWSO
The Tenby Relfief in Need and Pensions Charity Notes to th¢ Finlncial Statements for the Year ended 3111 Dvember 2022 l. AccouKfiNG POLICIES B41is of 2¢eounting The fllhancial staternents of the charity have been prepared in ac¢ordance with the Charities SORP {FRSSE)'Accounting and Reporting by ChaTities: Statement of Recommended Practice applicable to ¢harities preparing their accounts in ac¢ordan¢¢ with the Financial Reportin8 Standard for Smaller Entities (the FRSSE) (effective l January 20I5)'. the FiD&ncial R¢porting Stsndard for Srnaller entities (¢ff¢etive January 2015) and the Chariti¢s Act 2011. lTh¢ fun¢al statements have been pr¢par¢d under the historical cost Convention with the exception of investmeDts whTch ar¢ Inched atmarketvalue, as modified bytherevaluation of certain oss¢ts. Investments Investments are includ¢d at the market value quoted as n¢gr &9 possil>le to th¢ year end date, as advised by the &ss¢t manag¢rs acting on behalf of th¢ Tnjstees. The valuation adjvs¢ment required each year is tr¢ated as an unrealised gainl(loss) in the statetnent of financial activities. Gains or losses are oiily treated &8 realised upon the disposal of an investm¢nl. Rcstrieted, unrestricted aDd deslgnated funds Tbe a¢counts distinguish between unrestricted re5erv&s (The General Fund). d¢signated funds (The Extraordinary Repair Fund). and perm8nent endowment funds. Unrestricted funds are those wh¢r¢ there are no ¢xt¢rnally imposed restrictions on u4 including those availabl¢ to the charity for appropriation to reserv¢5 for internally designated purposes (designated funds). Tre pernianent endowm¢nt r¢presents the properties from which income is gonerdted for Charitable purposes. if these proixrtie5 ar¢ sold th¢ charity must invest the proceeds as part of th¢ nnnent endowment. In¢om¢ Incom¢ represents the amount d¢riv¢d from the Charity's ordinary activities. Income 1$ accounted for on an accruals basis ¢X¢¢Ptfor donations and investment income which are accounted for when re¢eived. No income is staled net of any a5sociat¢d expendiiur¢. Recognilion of L14blllties and All¢xatioD of Costs Liabilities are recognised when there is a1¢8al or conslructive obligation u)mmitting thecharity to pay out resources. The niajority of tho costs are directly attributable to the obj¢¢tives of the charity and ar¢ allocated accordingly. GovernAnce costs irAclude costs of the preparation and examination of statutory aewunts at the ¢05t of any l¢gal advice to truste¢s on governance or Consfitutional matter5.
The TeDby Relief in Nced and Pensions Charity Notes to th¢ Financfial StatemeDts for the Year ended 311t December 2022 2. NET RESOURCES ARISING Net in¢oming resources are stated after ¢har8ing'. 2022 2021 Accountancy Independ¢nt Examinevs fe¢ 354 702 354 702 3. TRUSTEES REMUIYERATION None of the trustses received remunerntii)n or from the Charity during the year (2021 nil). There has been no expenditur¢ on tW5tee indannity insurance. SUPPORT COSTS Support costs comprise of the following: 21122 2021 Clerks Salary Professional f¢es 6,300 240 (6.OLM)} 67 TAXATION The Tenby Relief in Need and Pensiofts ChaTily is a resistered charity and COrdinglY is ¢xempt from taxation on its income and gains where they are apptied for charitabl¢ purposes. 6. TANGIBLE FIXED ASSETS Th¢ following land and building5 are held in the name of the oificial Custodian for Charities IJJ trust to be us¢d in the pursuance of th¢ chariiabl¢ activities of the IrusL Land and dwellin8 at 12 D¢¢r Park. Tenby Land and dwelling at 14 Deer Park. Tenby Land and dwelling at 5 South Parad¢, Tenby IAnd at Lower Cwm Park and Chapel HilL Tenby 2022 2021 Freehold Property 200 000 200 000 The Freehold Properties hav¢ been valued at open market value by the trustee4 after tsking ccount of the tenanted nature of tFLe properties.
The Tenby R¢lief An Need and Pensions Charity Notes to the FiThnci#A Statem¢nts for the Yexr ended 3111 Decemb¢r 2022 7. INVESTmEs mar1¢ Vlu¢ Market Value Nomilll Vlue CAprrAL AccouKr 222 31.lla2 1.12.21 46,953.500 46.953.500 65,035.8490 65,035.8490 BLK UK Bond Fund BLK UK Equity Fund 68,520 449.020 86,254 465,266 INCOME ACCOUNT 10,146.3310 10.I46.3310 5,915.3130 5.9153 130 BLK UK Bond Fund BLK UK Equity Fund 14,807 18,639 573.187 612,477 EXTRAORDiNARY REPAIR FU1¥ 152.8240 152.8240 2,299.4640 2,299.4640 BLK UK Bond Fund BLK UK Equity Fund 6,671 ,094 53.876 61.970 60,485 633 672 674 447 . CREDrtORS 2022 2021 Clerk's salary Accountancy & Indep¢nd¢nt Examin¢rs fee Prof¢ssiI)nal Fees 6,300 2.076 240 3.084 io
The Tenby Rellef In Need and Pensions Charity Notes to the Financial Statements for the Year ended 3151 D¢¢ember 2022 9. NET MOVEMENT IN FiINDS Unr¢5¢ri¢ted urtrIcted Pennanent General Eytraordiniry Endowment Fllnd Repalr Fund Fund Total At l$tJawary2022 53,693 70.349 798,699 922.741 Nei movement of iesouw¢s in y¢ar 8.555 (1.485) (39.641) (32.571) At 3 1st December 2022 759 058 8911170 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Unrutrittcd PermaHeDt Co¢1 Extr40rdin8ry Endowment Fund Repalr Fund Tot*1 Fixed Assets Cash at Bank & other inwme ii¢nt REceived in Advon¢e Creditors 5.199 65.114 68,864 759.409 833.672 65,114 351 759 058 890 170 PermaneDt EudowtDenl Furtd The fund repTgs¢nts (hc original capital of the ¢h#rity at net book value. All irt¢ome generated from the endowm¢nt Is credited to the G¢n¢Tal Fund which must be utilised in accordan¢¢ with the ¢haritabl¢ objective.