REGIsfERED CHARITY NUMBEIL. 233003 REPORT FTHETR ENDED 31 DECEMBER 2023 HARrriES
KING'S LYNN GENERAL CHARITIES coTrE Page Reference and Administrative Details Report of the Trustees 2to5 Report of the Independent Auditors 6t08 Statement of fiinancial Acuvities Balance Sheet io Notes to the Financial Statements Ilto19 Detailed Statement of Financial Activities 20to23
FERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES D J Whitmore (resigned 16.01.24) R G Pannell A J Williams (resigned 16.01.241 A C ThorarinssoTh M l Frammingliam Ms S M Cambridgo K L Blythe (resignea 16.01.24} Mrs I Saunders K Banks Miss K E Srnirh R l Harrison R W Brain Ms R A L Burridge PRINCIPAL ADDIIESS 27-29 Old Market Wisbech Cambridgeshire PE13 INE REGSITERED CHARITY NUMBER 233003 INDEPENDETr AUDITORS Hayhow & Co Statutory Auditor 19 King Street King's Lynn Norfolk PE30 IHB SOLICITORS Hawkins Ryan 19 Tuesday Marker Place Kill8'5 Lynn Norfolk PE30 IJP cRK A5Cave Page I
KING'S LYNN GENERAL CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The tnlstees present their report with the fin2nci21 statements of the charity for the year ended 31 December 2023. The ¢nteeS have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prepaTill8 their aecounts in accordanee with the Financial Reponing Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 Sanuary 2019). The financial statements consolidate the positiun olthree churities under this charity nutnber being King's LyThn General Charities, Almshouse Chariry. Chariiy Trustees and Len Rush Charity. OBJECTtVES AND AcfiviTIES Objectives and aim8 The objects of the Trust administered by the Trustees is for the provision of almshouse accommodation, welfare supporc. an annual lunch for pensioners and ocher minor charitable matters. Public benefit The Trustees have complied with the duty in Seciion 17 of the 2011 Chari¢y Act, to have aue re8ard to 8uidance published by the Chariry Commission, including public benefit guidance. ACHIEVEMENT AND PERFORMANCE The Trustees, who are all unpaid volunteers, met four tirnes in the year to review the management of the Trnsts, affairs. and in particular to receive reports frorn the five Truscee$ who are almshouse custodians. These Trustees report upon the welfgre of the residents, the maintenance of the almshou8es and any schemes for improvement ro rther our charitable purposes for the public benefit. There has been the usual routine maintenance and repair work cattied out on all five sets of alm5house$, EO deal with issue5 a5 and when they occur. The trustees also take every opportunity to irnprove the standard of the a]mshouses, Consequently a programme to Upgrade all the smoke and heat alanns has been undertaken in association with Careline. This will ensure compatibility with Careline units and also make the almshouses ready for the digital switchover. Work has been completed on rhe driveway at Framinghams to improve drainage and the drive surface. There were no calls on the Charity for the Poor to assist vulnerable people in King's Lynn. After last year's successhl lunch the decision was taken agaÉn thi5 year to merge with the Shallow lunch, a charity also administered by the ttee$. This combined lunch was catered for by the College of West Anglia and forry two people attended. The combined lunch was well received. At the January 2024, meeting three trustees retired. Mr D J Whitmore had been a trustee for over forry years and Chainnan for twenry and he was presented with a retirement gift in 2ppreciation of his services to the chariry. Mr M J Frammingh8m was unanirnously ekcted as Chairnian in his place. Two other long serving trustees also retired: Mr A J Williams and Mr K Blythe, who had both been trustees frjr many years. Page 2
KING'S LYNN GENERAL CHARrrIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 coniinued FINANCIAL REVIEW Principal funding source8 The principal funding source of the charity is the almshouse residents weekly rnaintenance contributions, together with investment income. Investment p]icy and objective8 The Trustees, policy on investment is a prudent approach which combines.. Maintenancc and, if possible. enhancement of the value of invested lld$, Adoquato financial return. and Minimising risk. Funds are invested in COIF Charity Funas, in National Almshouse Association Common Investment Fund {NAACIF). accumulation shares and in bank deposit accounts where the cash is readily available for carryin8 Out properry renovation if required. Reserves po]icy Unrestricted ndS are needed to provide ndS which can be designated to specific PTOjQCts to enable these projects to be undertaken at short notice and to covor management and establishment expenses without which the Trust8 could not nctIOn. There a180 needs to be a buffer in ease of emergency work being required on any of the Almshouse properties. The Trustees eonsider it prudent that unrestricted reserves should be sufficient to meer the above objeetives without having to realise fixed assets, and the Trustees are guid¢d in determining prudent amounts by the advice of The Almshouse Association, which advises on appropriate levels for cyclical and ex¢raordinary rep?ir rends. These ndS are maintained to cover tUre establishment expenses and renovation projects. The level of reserves is monitored and reviewed annually by the Tnree$. With regard to the Poor nd, funds are needed to provide fvnds to enable grants to be issued at sho notice. With regard to the Len Ruth Income fund, the policy of the TN$tees is that all income should be expended on the lunch so that no reserves are maintained. In recent years the nUber of attendees has fallen to level such that not all the incorne has been utilised. In view of this the trustees are plaThniThg an additional lunch in the summer of 2024. STRUCTUBE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a Scheme of the Charity Commissioners dated 31 August 1966. Page 3
KING'S LYNN GENERAL CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED I DECEMBER 2023 ntillUe STRUCTUBE, GOVERNANCE AND MANAGEMETr Recrnitment and appointtllent of new trustees When recruiting new trnstees, the present rrustees consider the Skill set the potential trustee will bring to the chariry. Incoming trnstees are appointed by a resolution of the trustees passed at a special meeting. OrgaDisational strUcre The charity is operated by rhe trustees, who meet during the year to review and manage rhe affairs of the trust. Induction wd traiDing of nv+V trustee8 Once a new trusiee is appointed, they meet, before their first meeting. with a current trusre¢ to discuss the charity in more detail. ATEmEr OF TRUSTEES, RESPONSIBILITIES The Entee$ are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kin8dorn Accountin8 Standards (United Kinsdom Generally Accepted Accounting Practice). The law applicable ro charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the tLUStees io prepare financial 9tatemenL8 for each financial year which give a true and fair view of the state of affairs of tlie charity and of the incoming resources and application of resources, including the income and expendiNre. of the charity for that period. In preparing those financial statements, the trustees are required to., select suitable accounung policies and then apply them consistently, observe the methods and principles in the Charity SORP. make judgement5 and estirnate5 that are reasonable and pNdent; stare whether applicable accouThting standards have been followed, subject ¢0 any material departures disclosed and explained in the financial staternents., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the chariry will continue in business. The rrustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any ume the financial position of the charity and 10 enable theni ro ensure thai the financial Statements comply with the Charities Aci 2011, the Chariry (Accounis and Reports) RegulatioThs 2008 and the provisions of Ihe trust deed. They are also responsible for safeguarding the assers of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
KING'S LYNN GEf4ERAL CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 continued The trustees are responsible for preparing the Report of the TSteeS and the financial statements in aceordanee with applicable law and United Kingdom Accounting standd5 (United Kingdom Generally Accepted Aecounting Prdctice}. Approved by order of the board of trustees on ........... .. .... M l Frammingham - Trustee Page 5
REPORT OF THE INDEPENDETr AUDITORS TO THE TRUSTEES OF KING'S L GENERAL CHARITIES Opinion We have audited the financial statements of King's Lynn General Charities (the 'charity') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial repotting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard8 (United Kingdorn Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and flir vicw of the state of the chariry's affairs as at 31 December 2023 and of its incoming resources and applicauon of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011, Basis for Opinion We conducted our audit in accordance wirh International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are hjrther described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the eharity in accordance with the ethical requirements that are relevant to our audit of the financial statements in che UK, including the FRC'8 Ethical Standard, and we have fulfilled our other echic41 respDnsibiliries in accordance with those requirements. We believe tha¢ the audif evidence we have obtained is sufficicnc and appropriato to provide a basis for our opinion. Conclusion8 re]Rting to going concern In auditing the financial stateTnents, we have concluded that the trustees, use of rhe going concern basis of accounting in the preparation of the financial statements is appropriare. Based on the workwe have perfomed, we have noi identified any material uncertainties relating to events oy condition5 thac, individually or collecuvely. may cast significant doubt on rhe chariry's ability to continue as a going concern for a period of ac least twelve months from wheTh rhe financial stacements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other iDfomation The trustees are responsible for the other informauon. The other infonnation comprises the infonnation included in the Annual Reporc. other than the financial statements and our Report of the Independent Auditors thereoTr. Our opinion on the finaneial statemenrs does not cover the other infoLination and, except to the extent otherwise explicitly stated in our reporr, we do not express any forn] of assurance condusion thereon. Page 6
HE INDEPENDEr AUDITORS TO THE TRusfEES OF KING'S LYNN GENERAL CHARITIES In connection with our audit of the financi21 statements, our responsibility is to read the otheT inforniation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or oiherwise appears to be rnaterially misstated. If we ideniity such material inconsistencies or apparent macerial misstaremencs. we are required to determine whether chis gives rise to a material misstaTrment in the financial statements themselves. If. based on the work wo havo porformcd, we conclude that there is a material misstaten]ent of this other information. we are required ro report that fact. We have nothing to report in this regard. Matters oll which we are rquired to report by exception We have nothing ro report in respect of the following matters where rhe Charities (Accounts and Reports) Regulations 2008 requires us to repott to you if, in our opinion.. the information given in rhe Report 0£ the Trnstees is inconsistent In any material respect with the financial statements- or sufficient accounting reeords have not been kopt., or the financial statements are not in agTeemont with rhe accounting records and returns. or we have not received all the inforn]ation and explana¢ions we r¢quirc for our audit. ReBponsibilities of trustee8 As explained more fully in the Statement oETrustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustccs dctcrminc is n¢cessary to enable the preparation of financial statements chat are free from material misstatement, whethcr due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using tho going concern basis of accounting unless the trnstees either intend ro liquidate the chariry or to cease operatlons, or have no realistic alternative buc to do so. Our reSpOlbillttes for the audit of the )Snancial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Aet and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable a55urance about whether tlie financial statemenrs as a whole are free from Jnaterial misstatement, whethcr due to fraud or error, and to issue a Report of the Independent Auditors thai includes our opiThion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit Conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misscatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulaiions. We design procedures in line with our responsibilities. oudined above, to detect material misstatemenrs in respect of irregularities, including fraud. The extent to which our procedures are Capable of detecting irregularities. induding fraud is detailed below.. Page 7
REPORT OF THE INDEPENDENf AUDITORS TO THE TRUSTEES OF KING'S LYNN GENERAL CHARITIES As pan of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements. We considered poiential financial or other PTessuTes. opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to rnitigaie Tisks related to fraud or non-compliance with laws and regulations and how management monitor these processes. AppTopriate procedures included the Teview and testing of manual journals and key estimates and judgements made by managernent. We gained an understanding of the legal and regulatory framework applicable to the Charity. drawing on our broad sector experience, and considered the risk of acts by the Chariry thar were contrary to these laws and regularions, including fraud. We focused on laws and regulations that could give rise to a material misstatement in the financial statements. Our tests included agreeing the financial staternents disc105ures 10 underlying supporting documentation and enquiries with managernent. We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls includin8 testin8 journals. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, reco8nising that Ehe risk of not detecting a materi21 misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the rther removed non-compliance with laws and re8ulations is from the events and cransactions reflected in the financial statements, che less likely we are to become aware of it. A further description of our re5ponsibilitie5 for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fornls part of our Report of the Independent Auditors. Use of our report This report 15 made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trnstees those matters we are required co siaie to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Hayhow Eligible to act a5 an auditor in terms of Section 1212 of the Companies Act Statutory Audiior 19 King Street King's Lynn Norfolk PE30 IHB Date- Page 8
KING. LYNN TATEMENT OF FINANCIAL ACTIVITIES 31.12.23 31.12.22 Totsl Unrestrfcted Re8tri¢red Ettdovuwit Notes INCOME AND ENDOWMENT FROM ChArit2ble activitie8 Almshouses Donations and le8&cie5 Investment income Other income 179.299 179.299 162.393 30,971 578 30,971 578 26,954 353 Tot 210.848 2IO,848 189.700 EXPENDITURE ON Clwitable acdvitie¥ Almshouses PooT Funa Annual lunch 171,433 ioo 543 171,433 loo 543 135,584 1,456 490 172,076 l72,076 137,530 Net gaing111093esl on inve$tment8 20,203 12.526 32,729 145,8931 NET INCOME 58,975 12,526 71,501 6,277 Transfers between funds Nel movements in fund$ 58.975 12,526 71,501 6,277 BSCONCILtATION OF FUNDS Toial funds biou8ht forward 782,554 37,604 267,533 1,087,691 1,081,414 TOTAL FUNDS CARRIED FORWARD 841.529 37,604 280,059 ,159.192 1,087.691 Page 9 The notes form part of these financial stateLeArs
KNG'S LYNN GENERAL CIIARITIES BAIANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 Total Unre5rricted Restricted Endowjnenr Notes FIXED ASSETS Investments 584,223 37,074 146.595 767,892 716.028 Debiors Cash ai bank 3,014 295,006 3,014 429,1))O 2,184 425.267 530 133.464 298,020 530 133,464 432,014 427,451 CREDrnRS Amounts fallin8 due in one year {24.3081 124,3081 132,8201 273.712 530 133.464 407.706 394.631 TOTAL ASSETS LESS CURRE LIABILITIFS 857.935 37,604 280.059 1,175,598 1,110,659 CREDrroRS AmounLS fèlling due after more LhArt ont ye4r 116.4061 116.4061 122,9681 841.529 37,604 280.059 1.159.192 1,087.691 NET ASSETS Unre81ricted fvnds ResLriCtod fiJnd8 Endowment fund8 841,529 841.529 37,604 280,059 782,554 37,604 267,533 37,604 280,059 841,529 37,604 280,059 1,159,192 1,087,691 The financial sratements were approved by the Board of Trustee8 and authorised for issue on. M l Frammingham- Tntee K Banks- Trustee Pa8e 10 The note$ for]n paTt vf thes£ finantial statements
NOTES TO THE FINANCIAL STATEMETrUS FOR THE YEAR ENDED 31 DECEMBER 2023 AccoifNfiNG POLICIES Basis of preparing the financial statements The financial statements of rhe charity, which is a public benefit entiry under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accountin8 and Reporung by Charities: StateJnent of Recommended Practice applicable to chaTities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reponing Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial sratemencs have been prepared under the historical cost convention with the exception of investmencs which are included at market value, as modified by the revaluation of certain assets. Going concern The trustees believe that the charity ig well placed to manage it8 financial and operational risks and chorefore have a rea80nable expectatxon that it has adequate financial resources co continue in operational cxistence to meet its liabilities as they fall due for the foresecable future. Accordingly, the charity eonrinues to adopt the going concern basis of preparation in preparing the annual financial statements. Finaneial reporting 8tAndard 102 . reduced d18c1osLe exemptiou8 The charity has taken advantage of the following disclosure exemptions in preparing these financial sratemenis, a5 peTtnitted by FRS 102 'The fiinancial Rcporting Standard applicable in Ihe UK and Republic of Ireland,: the requiremenc of Section 7 Statement of Cash nows. Income All income is reeognised in the Statement of Financial Activities once the ehariry has entitlernent to the funds, it is probable that the incorne will be received and the amount can be mellsured reliably. EXpendire Liabilities are Tecogni5ed as expenditure as Soon as there is a legal or ConStctIve obligation committing the chariry to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the ob]igation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be direcdy attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Page 11
ANC METrTfs- continued FOR THE YEAR ENDED 31 DECEMBER 2023 Tangible Assets The chariry oww the freehold of various propertieg in King's Lynn, all of which arose frorn benefactors, donations many years a80. Because of these ume scales the original cost is unknowTh. Similarly it is not possible to placo a markct value on thc propcrrios as che Trustees have no intention of disposing of them and, in any cas¢, disposal would require Chariry Commission approval. They are such unusual building8 with such a specific use that fonnal property valuations are not considered practical or Meaning1. Consequently the freehold propenies are not shown in the balance sheet. The principal freehold properties are'.- Framinghams Ahnshouse Elsdens Almshouse St Thiary Magdalen Alm$hou9e Marion Seamans Almshouse Smith & Wesleyans Almshouse. The charity also owns the freehold to variou8 properties in Tennyson Avenue, Gaywood Road, King George V Avenue and Lynn Road, KiThg's Lynn, all of which are subject to a loaso of 999 yeats. rhe earliest of whxch was granted in 1895. The freehold Teversions are available for purchase by rhe leaseholders if desired. Fixed Asset inyestnjents Fixcd asset investments are included at market value at the year end. Gains and108$es on disposal and revaluation of investment5 are charged or credited to the Stacement of Financial Activities. Taxation The charity 19 exempt from tax on its eharitable aetivRties. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discreiion of the trustees. Restricted fjjnds can only be used forpatticular restricted purposes within the objects of the chariry. Restrictions arise when specified by Ihe donor or when funds are raised for particular restricted purposeg. Page 12
KING'S LYNN GENERAL CHABJTIES NOTES TO THE FINANCIAL srATEmEFs. continued FOR THE ENDED I DECEMBER 2023 The charity has the following funds: General Funds',- General funds are unrestricted ndS which are available for use at the discreuon of the Trustees in the ttherance of the general objectives of the charity and which have not been designated for other purposes. The Cyclical Maintenance Fund and the Extraordinary Repsir Fund are designated nds. Cyclical Maintenance Fund..- This nd is maintained to meet maintenance occurring at regular intervals. Transfers from the General Fund are made annually basea upon the recommendacions of The Almshouse Association and the discretion of the Trustees. Extraordinary Repair Fund..- This nd is a reserve nd for tllre major expenditure. Transfers from the General Fund are made annually based upon che recommendacions of The Almshouse Associarion and the discretion of the Trustees. Restrieted Funds'.- Restricted ndS can only be used for particular restricted purposes within the objects of the chariry. Restriction8 arise when specified by the donor OT when funds are raised for particular resCriCa purposes. Endowment Fund..- This nd represents those assets which must be held permanently by che Charities. principally fixed asset investments and cash. INVESTmEr INCOME 31.12.23 31.12.22 COIF NAACIF Accurnulauon shares Barclays Bank PIC Cambridge and Counties 7,286 19,135 2.480 2,070 7,291 17,413 231 2,019 30,971 26,954 Page 13
KING'S LYNN GENERAL CHARITIES NOTES TO THE FINANCIAL STATEM. continued FOR THE YEAR ENDED 31 DECEMBER 2023 AUDITOBS. REMUNERATION 31.12.23 31.12.22 Fees payable to the charity's auditors for the audit of the Charity's financiaE statements 2.328 2,328 TRUSTEES, BEMUNERATION AND BENFITS There were no Irustees Temunerdtion or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Tntee8. expenses There were no trnstees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. During the year payments were made for reimbursement of general expenses as follDws:_ 2023 2022 D I Whitmore Mrs A Saunders R J Harrison A C Thorarinsson Miss K E Smith K Banks R W Brain 76 568 io 654 NET RESOURCES EXPENDED FOR THE YEAR This is stated after charging.. 2023 2022 Clerk's remuneration Auditor's remuneration 13,896 2,328 12,744 2.328 The Clerk'g remuneration is pald to Wheelers Chartered Accountants for the administration of the Charity. FIXED ASSET INVESTMENrs Un]isted Investments At l lanuary 2023 Addiuons Revaluations 716,028 19.135 32,729 At 31 December 2023 767,892 NET BOOK VALUE At 31 December 2023 At 31 December 2022 Page 14
KING'S LYNN GENERAL CEIARITIES NOTES TO THE FINANCIAL STATEMETrifs. continued FOR THE YEAR ENDED 31 DECEMBER 2023 FIXED ASSET INVESTMETrllS- continued There were no investment assets outside the UK. Cost or valuation at 31 December 2023 is represented by.. Unlisted Investments Valuauon in 2023 Cost 354,746 413,146 767,892 DEBTORS: AMOUTrUS FALLING DUE WH1N ONE YEAR 31.12.23 31.12.22 Other debtors Prepayments and accrued income 294 2,720 262 1,922 3,014 2,184 CREDITORS: Amouwfs FAIIJNG DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other loan8 {see note 10) Trade creditors Accrual$ and deferred income 6.562 3,166 14,580 10,562 9,266 12,992 24,308 32,820 CREDrroRS: AMOufS FALLING DUE AFtER MORE THAN ONE YRAR 31.12.23 31.12.22 Other loans {see note 10) 16,406 22,968 10 LOANS An analysis of the maturity of loans is given below: 31.12.23 31.12.22 Amounts falling due within one year on demand.. Almshouse Association 6,562 10,562 Amounts falling due within one and two years.. Almshouse Associauon 6,562 6,562 Amounts falling duc within and five years: Almshouse Association 9.844 16,406 Page 15
KtNG'S LYNN GENERAL CHARITIES NOTES TO THE FINANCIAL STATEMET(rs . continued FOR THE YEAR ENDED 31 DECEMBER 2023 11 MoVEmET IN FUNDS Net Transfer8 Movement between At in funds fund8 31.12.23 At 01.01.23 UDresrricted funds General nd Cyclic21 Maintenance Fund Extraordinary Repair Fund 168,503 135,384 398,823 17,281 1,097 29.305 112,7081 173,076 17.648 154,129 (4,9401 423,188 Charity for the Poor Charity for Sermons Kin8'5 Lynn & Wisbech Hospitals NHS Trust Bank interest received 46,993 1,865 6,384 177 53.377 2,042 136 136 Income Fund- Len Rush 30,846 4,731 35,577 782,554 58,975 841,529 Resttlcted Funds Chariry for the Poor Capital Balance 17,074 17,074 15 Kent Road Fund 20,530 20,530 37,604 37,604 Endowment fiLnd8 Permanent Endowment Fund 267,533 12,526 280,059 TOTAL FUNDS 1,087,691 71,501 1,159,192 Page 16
KING'S LYNN GENERAL CHARITIES NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 DEC ER 2023 11 MOVEMEP IN FUNDS. continued Net movemeDt in funds, included in the above are a5 follows,. Incoming Resources Gains and Movement resources expended losseB in fiinds Unrestricted fijnds General lrtd Cyclical Maintenance Fund Extraordinary RepaiT Fund 187,668 (171,4331 1.097 19.135 1,046 17,281 1,097 29.305 10.170 Charity for the Poor Charity for SeTtnons King's Lynn & Wisbech HosPltals NHS Trust Bank interest received 1,577 42 (loo} 4,907 135 6,384 177 Income Fund- Len Rush 1,329 {543} 3,945 4.731 210,848 (172,076) 20,203 58,975 Restricted Funds Chariry for the Poor Capital Balance 15 Kent Road Fund Endowment funds PeTmanent Endowment Fund 12,526 12,526 TOTAL FUNDS 210,848 (172,0761 32,729 71,501 Page 17
KING'S LYNN GENEBAL CFIARrrIES NOTES TO THE FINANCIAL STATEMETrS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 11 MOVEMEN[ IN FUT4DS. continued Comparatives for movement in funds.. Net Trdn8£er8 ovemeut between At At 01.01.22 in funds funds 31.12.22 Unrestricted fiu General fijnd Cyclical Maintenance Fund Extraordinary Rep2ir Fund Charity for the Poor Charity for Sermons King's Lynn & Wisbech Hospitals NHS Trusr Bank interest received 149,236 117,399 400,122 53,788 2,010 32,157 95 3,701 (6,795) (1451 (12,8901 168,503 17,890 135,384 15.000) 398,823 46,993 1.865 136 136 Income Fund- Len Rush 35,974 (5,128) 30,846 758,669 23,885 782,554 Resttleted Fund$ Charity for the Poor Capital Balance 17,074 17.074 15 Kent Road Fund 20,530 20.530 37,604 37,604 Endowment fia6 Permanent Endowment Fund 285,141 {17,608) 267,533 TOTAL FUNDS 1,081,414 6,277 1,087,691 Page 18
KING'S LYNN GENERAL CHARITIES NOTES TO THE FINANCtAL sfATEMENfs. conlinued FOR THE YEAR EE4DED 31 DECEMBER 2023 11 MOVEMENf IN FUNDS. continued Cornparative net movement in nds. included in the above are as follows: Incoming Resources Gains and Movement resources expended losses in ndS Unrestricted fimds General fund Cyclical M2intenance Fund Extraordinary Repair Fund 169,214 (135,5841 95 17.413 11,473) 32,157 95 3,701 (13,712) Charity for the Poor Chariry for Scrmons 1,570 44 11,4561 (6,909) (189) (6,7951 11451 Income Fund- Len Rush 1,335 (490) (5,973) {5,1281 189,671 (137,530) 128,256) 23,885 Endovnneut fi Pern]aThent Endowment Fund 29 117,637) (17,6081 TOTAL FUNDS 189,700 {137,530) 145,893) 6,277 Within the unrestricted income fund is an amount of £232,290 which represents the unre81ised gains on revaluation of the investments. Within the endowment nd is an amount of £122,456 whieh Tepresent5 rhe unrealised gains on revaluaLion of the investments. 12 RELATED PARTY DISCLOSURES The accounts contain expenditure for rnainienance work of £21,257 paid to Mr J Saunders who is the husband of trnstee, Mrs J Saunders. Page 19
ENERAL CHARITIES HE YEAR ENDED 31 DECEMBER 2023 DETAILED STATEME FOR THE YEAR E OF ANCIAL ACTIVITIES ED 31 DECEMBER 2023 31.12.23 31.12.22 UDrestricted ElldowmeD¢ Funds Fund INCOME AND ENDOWMENrs Invutment income COIF Income NAACIF Accumulation thares Barclays Bank PIC CaTnbridgo and Counties 4,361 19,135 2,457 2,070 4,361 19,135 2,457 2,070 4,344 17,413 229 2,019 28,023 28,023 24,005 ChAritable activitie8 Contribuuon from Almshouse residents 179,299 179,299 162,393 Other Income Ground rcnts Sundry 31 547 31 547 32 321 578 578 353 Total income resouTce8 207.900 207,900 186,751 Charitable activitie8 Repairs and maintenance Water rates Insurance Light and heat Telephone Careline Television licences Council tax 111,221 5,163 4,401 22.829 3.328 4.710 75 111,221 5,163 4.401 22,829 3,328 4.710 75 85,555 5,524 4,022 14,984 3,236 5,112 75 655 151.727 151,727 119,163 Page 20 Thi5 page does not form part of the statutory financial statements
taNG'S LYNN GENERAL CHARITIES ALMSHOU TAI ¥J .¥.ii.¥¥ 31.12.23 Total Fullds 31.12.22 Total Fullds Ujirestrlcted EnÉlowment Fund5 Fullds Support costs Mana8emeDt Clerk's salary Subcriptions Sundry Mortgage costs Bank charges 13,896 353 2,504 528 97 13,896 353 2,504 528 97 12,744 329 395 528 97 17,378 17,378 14,093 Governance c08ts Auditor's remuneration 2,328 2,328 2.328 Total re80urces expended 171,433 171,433 135,584 Net income 36,467 36,467 51,167 Page 21 This page does not fDrm p2tt of the statlltory firtaAtial statement$
KING'S LYNN GENERAL CHARITIES CHARtrY TRUSTEES DETAILED STATEME OF FINANCIAL ACTIVITIES RTHE ENDED I DECEMBER 2023 31.12.23 Totlll Funds 31.12.22 Total UnTestticted Elldowrnent Funds INCOME AND ENDOWMENrs Investment income COIF Income shares 1,619 1,619 1,614 Total incoming re80urce6 1,619 1,619 1,614 EXPENDITURE Charltsble aetivitie8 Distributtons 1,355 Support Costs Mwgement Bank charges loo loo ioi Tot?1 resources expeThded loo loo 1,456 Net income 1,519 1,519 158 Page 22 Thi$ pase doe$ no¢ form part of the 51atiit¢ry fInaAtial $taternents
LED STATEMENf OF ¥ii¥¥i FOR THE YEAR ENDED 31 DECEMBER 2 31.12.23 Totol Fwids 31.12.22 Total Unre$trl¢ted Endowment Fullds INCOME AND ENDOWMENrs Inve8tment income COIF incorne and fixed interest shares Barclays Bank PIC 1.306 23 1,306 23 1,333 1,329 1,329 1,335 Total incomin8 Tesource8 1.329 13,29 1.335 Charitable activitieB Annual lunch 444 444 391 Support cost4 M8Da8ement Bank charges 99 99 99 Total resources expended 543 543 490 Net ineome 786 786 845 Page 23 This page does not form pari of the $tatutory financial sratements