The Poors Estate and Others Nafferton Feoffees ChaTlties Trust (Charity Number 232796) Annual Re ort of the Trustees 2020 The Trustees 2020 Dr D F Wigglesworth Mrs M A Buckion Mrs F Trewartha Mr Nick Waiies Mr l Kiiching Mr H Glover Mrs C Harrison Mr Barry Green Mr Paul Nicholson Chairnian Honorary Secreiary Vice Chairman Honorary Treasurer (Appointed 2020) (Appointed 2019) (Appoinied 2019) (Appointed 2018) (Appointed 2020) (Appointed 2016) (Appointed 2019) (Appointed 2016) (Appointed 2019) Strucmre and Governance The three charities known as the PooTS Trust. the Town Trust, and the John Baron Trust covering the ecclesiastical parish of N'afferton, Wansford. and PockthoTpe, are op¢raied logether, and knoivn as the Nafferton Feoffees Charities Trust. The scheme incorporales the schemes of1890, 1960, and John Baron's Will of1709, regulaied by the revised scheme of1974. There are 9 trustees of Ihe scheme. These comprise of two nominated trnst¢es from Nafferton Parish Council and one nominated trustee from Wansford Parish Council (all 4-year appointmenls), with 6 co-opted tnjsiees (5-year apintments). Co-opted Irusiees can be proposed for consideration by nomiT)ation: person5 Wlth appropriate skills have th¢ opportunity to offer ihemselv¢s for selection. and appointment. Grants and disbursements are nornially spent annually and derived from interest or dividends from invested capital funds, and income from rental of property and agricultural land. Howevcr. the Trustees may carry fund5 over from one year to another to enable disbursements to be deferred or larger. in any one year as decided by the Trnstees. Capital Funds may only be used for the purchase of property, exceptional equipment, or land for the benefit of the Parish. On disposal of any property, or land assel. the proceeds shall bc returned io investment capital. The objectives of the Trust are. To provide assistance to people in special hardship in the Parish. Bursaries may be provided for Students. Grdnts may be made for school sludents for study trips and projects etc. Funding shall be aTrailable for the enhancement and development for public benefil of village community facilities and recreaiion grounds and play areas in the Parish. Funding support for village institutions and groups which are of value to the Communiiy within The parish. including children's and youth groups.
Financial Review The total assets of ihe Trust ai Dec 2020 were £1,236.278. (£1,165,544 in 2019). This includes the property and land owned by the Trusts (£i56,075). whicli have been actively managed and maintained during the year. bui Ehe main a5sel is invested funds in Bank deposits and Inveslmenl Funds with CCLA of £833,638. The income generated from these assets and oiher financial investments was £34.252 (£32.692 in 2019); This has enabled grants and disbursements of £13,520 to be made during the year. Administration expenses incurred by the Trnsi (£1,110) in the year were for professional fees, insurdnce and sundry expenses. The Charity Trust does not act as custodian Irustees for any other Charities. Achievements and Perforniance The Trustees of Nafferton Feoffees Charities Trust have had four meelings during th¢ year of 2020, but due lo Covid restrictions three of these have been held by Zoom. There has been no change to thc Trustees during ihe past year. As in prcvious years. the laroest disbursements in the last year have been for the Scholarship scheme. Other recipienis of granis have once again been several village group£ and youth organisations, and individual young people to help with their wider educational and sporting needs. and towards furthering the fabric and appearance of the village ofNafferton. However, Ihe grants made for the SEudents to travel with World Challenge to Madagascar wer¢ nol taken up because of cours¢ the trip was cancelled due lo the pandemic in 2020. The T51 also supported Nafferton WI, Nafferton in Bloom, in addition to individuals. enabling them to further their educational sNdies and life experience. The Trust continues to fund its annual scholarships (the scheme is now in its nineteenth year). to two local swdents entering University on a degree course. for their course duration- Ihey receive £2100 and £1500pa. We have nded addilional smaller awards loo. The bursary recipients continue to express their gratitude for the support. and enthusiastically report their progress to us. The trnstees have agreed to award bursaries for the next financial year and continue lo explore other ways to help non-university students develop skills and gain qualifications locally loo. During ihe past year the Trnst has been working with the Trnstees of the Jefferson Hodgson Tnl to bring about the merger of that TNSI with the Nalferton Feoffees Chariiies Trust. Thi5 process is not yel llY completed. however. Ihe Charity Cornmission have confinned the merger from I si January 20? I, but the financial investments and cash accouni have not yet been transferred. This merger brings Ihe Charities together wilh substantial financial security 10 continue to support common aims and objectives 10 SUPPOrt ihe village of Nafferton, will bring about an opportunity of ini'estment in the Parks lo provide improvements for community benefii. Public Benefit
The trusiees confinn that they have complied with their duty to have due regard to the guidance on public benefil published by the Charity Commission in exercising their powers and duties during 20?0. ort Confirnied b TTUSt¢es Dat¢; at the AGM of the Trusiees on Tuesday 20ih April 2021 this report was approved. Address of Honorar Secrela of Nafferton Feoff¢es Charities Trust South Catileholmes Farn] Wansford DRIFFIELD Y025 8NW Dr David Wigglesworth Chainnan 20th April 2021
NAFFERTON FEOFFEES
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022 Registered Charity No. 232796
Page 1
NAFFERTON FEOFFEES
Financial Statements for the Year Ended 31 December 2022
| Contents | Page |
|---|---|
| Independent Examiner's Report | 3 |
| Statement of Trustees' Responsibilities | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the financial statements | 7-9 |
Page 2
NAFFERTON FEOFFEES
INDEPENDENT EXAMINERS REPORT YEAR ENDED 31 December 2022
Report of the independent examiners to the Trustees of Nafferton Feoffees
We report on the accounts of Nafferton Feoffees for the year ended 31 December 2022 which are set out on pages 3 to 5
Trustees
The trustees at the financial year end were as follows: Dr D F Wigglesworth Mr H Glover Mr N Waites Mrs F Trewartha Mr N Robson Mr S Sharp Mr I Kitching Mr T J Wakeley
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts.
The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
- (a) examine the accounts under section 145 of the 2011 Act;
(b) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
( c) to state whether particular matters have come to our attention.
Basis of the independent examiner's report
Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements:
(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed by : Jackson Robson Licence, Chartered Accountants
33-35 Exchange Street, Driffield, East Yorkshire, YO25 6LL on: 27th April 2023.
Page 3
NAFFERTON FEOFFEES
Financial Statements for the Year Ended 31 December 2022
Statement of Trustees' responsibilities
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. In preparing those financial statements the trustees are required to:-
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates which are reasonable and prudent;
-
state which accounts have been prepared in accordance with the Statement of Recommended Practice - Accounting by Charities; and
-
prepare the accounts on the going concern basis unless it is inappropriate to presume that the concern will continue in operation.
The trustees are required to act within the framework of trust law and the Charities Acts;they are also responsible for keeping proper accounting records. The trustees have a general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the funds and to prevent and detect fraud and other irregularities.
Annual Report dated: 18/04/2023
Page 4
NAFFERTON FEOFFEES STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2022
| Note Incoming resources: Income from investments 2.1 Gain on revaluation of investment property 7 Total incoming resources Resources used: Cottage expenses 3.1 Grants and charitable donations 3.2 Trust management and administration 3.3 Total resources used: Net incoming/(outgoing) resources Net movement in funds |
TOTAL TOTAL Town Poors FUNDS Town Poors FUNDS Trust Trust 2022 Trust Trust 2021 £ £ £ £ £ £ - 32,600 32,600 - 33,790 33,790 - - - - - |
|---|---|
| - 32,600 32,600 - 33,790 33,790 |
|
| - 8,704 8,704 - 1,648 1,648 - 211,197 211,197 - 28,906 28,906 - 792 792 - 756 756 |
|
| - 220,693 220,693 - 31,310 31,310 |
|
| - (188,093) (188,093) - 2,480 2,480 |
|
| - 188,093 - 188,093 - - 2,480 2,480 |
Page 5
NAFFERTON FEOFFEES BALANCE SHEET YEAR ENDED 31 DECEMBER 2022
| TOTAL FUNDS Note 2022 £ Fixed assets: Tangible fixed assets 4 246,075 Intangible assets 5 588 Investment assets-other funds 6 690,697 Investment property 7 170,000 1,107,360 Current assets: Bank current accounts 8 24,197 24,197 Net current assets: 24,197 TOTAL NET ASSETS 1,131,557 FUNDS: Capital Reserve 9 1,131,557 TOTAL FUNDS 1,131,557 Signed by the Treasurer, Mr N Waites Approved and signed on: 18/04/2023 by the Chairman, Dr DF Wigglesworth on: 18/04/2023 |
TOTAL FUNDS 2021 £ 246,075 588 985,181 170,000 |
|---|---|
| 1,401,844 | |
| 32,290 | |
| 32,290 | |
| 32,290 | |
| 1,434,134 | |
| 1,434,134 | |
| 1,434,134 | |
………………………………
…………………………………………….
Page 6
NAFFERTON FEOFFEES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022
1. Accounting policies (this note should be read in conjunction with the following notes 2 to 10)
The financial statements have been prepared in accordance with the Charities Act 2006 together with applicable accounting standards and the Charities Statement of Recommended Practice.
The financial statements have been prepared under the historical cost convention with the exception of tangible fixed assets and investment properties which are included at valuation, and investment assets, included at market value.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold land & buildings are not depreciated.
Investment assets
Investment assets are shown in the balance sheet at market value.
Investment property
Investment property has been accounted for in accordance with FRS 102 as follows:
(a) investment properties are revalued annually and the gain or loss is taken to the profit and loss account.
(b) investment properties are not depreciated but remeasured to fair value at each reporting
Page 7
NAFFERTON FEOFFEES NOTES TO THE FINANCIAL STATEMENTS ( continued ) YEAR ENDED 31 DECEMBER 2022
| YEAR ENDED 31 DECEMBER 2022 | |
|---|---|
| 2. Incoming resources 2.1 Income from investments: Field rents Less : Commission Cottage rents Less : Commission & expenses Dividends received Bank Interest received Total incoming resources 3. Resources used 3.1 Costs of generating funds: Cottage repairs Advertising and postage costs Professional fees - letting costs Insurance Land maintenance and park work 3.2 Grants, charitable donations Nafferton in bloom Nafferton WI Scholarship expenses N & A Titchener - daughter archery Nafferton School Yurt Nafferton Recreation Club Floodlights Interviews Nafferton Methodist Church Refurbishment Nafferton Under Fives iPad Benjamin Glover |
TOTAL TOTAL Town Poors FUNDS Town Poors FUNDS Trust Trust 2022 Trust Trust 2021 £ £ £ £ £ £ - 3,342 3,342 - 3,459 3,459 - (401) (401) - (372) (372) - 8,815 8,815 - 8,280 8,280 - (5,152) (5,152) - (2,317) (2,317) - 25,997 25,997 - 24,739 24,739 - - - - 1 1 |
| - 32,600 32,600 - 33,790 33,790 |
|
| - 32,600 32,600 - 33,790 33,790 |
|
| TOTAL TOTAL Town Poors FUNDS Town Poors FUNDS Trust Trust 2022 Trust Trust 2021 £ £ £ £ - - - - - - - - - - 68 68 - - - - 1,014 1,014 - 963 963 - 311 311 - 7,741 7,741 - 255 255 |
|
| - 8,704 8,704 - 1,648 1,648 |
|
| - - - - 500 500 - 300 300 - 250 250 - 20,500 20,500 - 15,550 15,550 - 50 50 - 600 600 - - - - 10,000 10,000 - 103 - 103 - - 2,006 2,006 - 600 600 - - - - 187,500 187,500 - - - - 950 950 - - - - 1,400 1,400 - - - |
|
| - 211,197 211,197 - 28,906 28,906 |
Page 8
NAFFERTON FEOFFEES NOTES TO THE FINANCIAL STATEMENTS ( continued ) YEAR ENDED 31 DECEMBER 2022
| 3.3 Trust management and administration: Professional fees Total resources used |
TOTAL TOTAL Town Poors FUNDS Town Poors FUNDS Trust Trust 2022 Trust Trust 2021 £ £ £ £ £ - 792 792 - 756 756 |
|---|---|
| - 792 792 - 756 756 |
|
| - 220,693 220,693 - 31,310 31,310 |
4. Tangible fixed assets
| 4. Tangible fixed assets | |
|---|---|
| VALUATION 18th April 2019 Transfer of land from Jefferson and Hodgson Charity Trust |
Land £ 186,075 60,000 |
| 246,075 |
The land comprises of a Grade 2 arable field, Bridlington Road, Nafferton, a Grade 3 arable field, Carr Lane, Nafferton and also Grade 3 grass field, Nethergate, Nafferton. The other properties owned by the trust have been treated in the financial statements as investment properties (see note 7).
5. Intangible assets
| 5. Intangible assets BPS Entitlements 3.27ha land - Ruston Parva - at cost 6. Investment assets CCLA Investment Management 7. Investment property 18th April 2019 28 Station Road, Nafferton 30 Station Road, Nafferton 8. Bank current accounts and short term deposit accounts Bank of Scotland Current Account 9. Capital Reserves Movements on the Capital reserves were: Capital Reserves at 1 January 2021 Total net movement in funds Increase / (Decrease) in value of Investment Capital Reserves at 31 December 2022 |
2022 2021 £ £ 588 588 |
| 2022 2021 690,697 985,181 |
|
| 2022 2021 85,000 85,000 85,000 85,000 |
|
| 170,000 170,000 |
|
| 2022 2021 24,197 32,290 |
|
| 45,977 25,355 |
|
| £ 1,434,134 (188,093) (114,484) 1,131,557 |
10. Status of Funds
Both the Town trust and the Poors trust are general funds with no restrictions.
Page 9
NAFFERTON FEOFFEES INDEPENDENT EXAMINERS REPORT YEAR ENDED 31 December 2022
Report of the independent examiners to the Trustees of Nafferton Feoffees
We report on the accounts of Nafferton Feoffees for the year ended 31 December 2022 which are set out on pages 3 to 5
Trustees
The trustees at the financial year end were as follows:
Dr D F WigglesworthMr H Glover Mr N Waites Mrs F Trewartha Mr N Robson Mr S Sharp Mr I Kitching Mr T J Wakeley
Respective responsibilities of trustees and examiner
The trustees are responsible for the preparation of the accounts.
The trustees consider that an audit is not required for this year under section 144(2) of the Cha and that an independent examination is needed.
It is our responsibility to:
-
(a) examine the accounts under section 145 of the 2011 Act;
-
(b) to follow the procedures laid down in the general Directions given by the Charity C under section 145(5)(b) of the 2011 Act; and
-
( c) to state whether particular matters have come to our attention.
Basis of the independent examiner's report
Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity an comparison of the accounts presented with those records. It also includes consideration of any items or disclosures in the accounts, and seeking explanations from you as trustees concerning matters. The procedures undertaken do not provide all the evidence that would be required in a and consequently no opinion is given as to whether the accounts present a 'true and fair view' a report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements:
- (a) to keep accounting records in accordance with section 130 of the 2011 Act; and
(b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
- (2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed by : Jackson Robson Licence, Chartered Accountants 33-35 Exchange Street, Driffield, East Yorkshire, YO25 6LL on: 27th April 2023.
rities Act 2011 (the 2011 Act)
Commission
y nd a unusual g any such an audit and the
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