REGISTERED CHARITY NUMBER: 233003 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DEC ER 2024
G'SL GE FOR THE YEAR ENDED 31 DECEMBER 2024 Page Reference and Administrative Details Report of the Trustees 2to5 Report of the Independent Auditors 6t08 Statement of Financial Activities Balance Sheet io Notes to the Financial Statement9 11 to19 Detailed Statement of Financial Activities 20ro23
G'S LYNN GENERAL CIIARrnES REFERENCE AND ADMtNISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEhtBER 2024 TRUSTEES D I Whitmore {resigned 16.01.24) R G Pannell A J Williams (resigned 16.01.24) A C Thorarinsson M J Frammingham Ms S M Cambridge K L B1he (resigncd 16.01.24} Mrs J Saunders K Banks Misy K E Smith (resi8ned 07.10.24) R J Harrison {re5igned 15.07.251 R W Brain Ms R A L Burridge T R Benstead (appointed 15.07.251 PIUNCIPAL ADDRESS 27-29 Old Market Wisbech Cambridgeshire PE13 INE REGSITERED CHARITY NUMBER 233003 INDEPENDETr AUDITORS Hayhow & Co Statutory Auditor 19 King Street King'5 Lynn Norfolk PE30 IHB SOLICITORS Hawkins Ryan 19 Tuesday Market Place King's Lynn Norfolk PE30 IJP AJCave Page I
KING'S LYNN GENERAL CItARIThS REPORT OF THE TRUSTEES YEAR ETr4DED 3 ECEMBER 202 The trn8tees Present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommenaed Practice applicable to charities preparing their aecounts in accoTdaThce with the Financial Reporting Standard applicable ill the UK and Republic of Ireland (FRS 1021 (effective l January 20191. The financial statemenrs conso12date the position of three charities under this charity number being King's Lynn General Charities - Almshouse Chariry. ChaTlty Trustees and Len Rush Chariry. OBJECTIVES AND ACTIVITIES Objectives and aims The objects of the Trust administered by the Trustees is for the provision of almshouse accornmodation. welfare support, an annual lunch for pensioners and other minor charitable matters. Pllblie benefit The Trllstees have complied with the duty in Section 17 of the 2011 Charity Act, to have due Tegard to guidance published by the Charity Commission, including public bonefit guidance. ACHIEVEMETr AND PERFORMANCE The Trustees, who are all unpaid volunteers, met four times in the year to review the management of the Trusts, affairs, and in particular w receive reports from the five Trustecs who are almshousc CU5Eodians. These Trustecs report upon the welfare of rhe residents, the maintenance of che almshouses and any schemes for improvement to fijrther our ¢harirable purposes for the public benefit. The principal initiative during the year was preparing for the Digital Roll-out planned for 2025. This has required research into alternative wireless smoke and heat detectors from our current analogue ones, and which need to be able to synchronise with new wireless boxes being developed by Careline. This has proved to be time well spent as the trustees have been Bble to have the wireless detectors, synchronised to the new Careline boxes, installed in three of five 8e¢s of almshouses. The remaining two will be upgraded in 2025. No Major Projects were undertaken in 2024, but as always there has been rouune maintenance, repair and gardening work carried out throughour the year. The Chairnlan has been updating relevant policy documents and the residents, Welcome Pack in line with rccommcndations from the Almshouse Associauon. There was one call on the Chariry for the Poor to assist vulner2ble people in King's Lynn. In the same manner as the last few years the annual lunch, noLinally held in Decernber, was held joindy with the Shallow Foundation, a chariry also administered by the trustees. Combining the two charities, lunches in this way has achieved a cost saving and, for the first time, has enabled the trustees to host an addÉtional lunch, this time held in thc summer. Both lunches were vey success1 and well supported and were catered for by the College of Wesr Anglia. It is the tntees, intention to hold a summer and winter lunch annually in the tllre. Pa8e 2
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 continued Principal funding sources The principal filnding source of the charity is the almshouse residents weekly maintenance contributions, together with investment income. Inve8tment pobcy and objectives The Trustees, policy on investrnent 15 a PL7Jdent approach which combines: Maintenance and. if possible, enhancement of the value of invested lld5; Adequate financial return. and Minimising risk. Funds are invested in COIF Charity Funds, in National Almshouse Association Common Investment Fund INAACIF), accumulation shares and in bank deposit accounts where Ihe cash is readily available for earrying out property renovation if required. Regerves po]icy Unrestricted fiLnds are needed to provide Sjnds which can be designated to specific projects to enable these projects to be undertakon at short notice and to cover mana8Ément and establishment expenses without which the Trusts could not function. There also neods to be a buffer in case of emergency work being required on any of the Almshouse properties. The TrasEees consider it prudent that unrostricted reserves should be sufficient to meet the above objectives without having to realj'se red assots, and the Trnstees are guided in determining pruden¢ amounrs by the advice of The Almshouse Association, which advises on appropriate levels for cyclical and extraordinary repair rebjnds. These ndS are maintained to cover future establishment expenses and renovatioTh projects. The level of reserves is monitored and reviewed annually by the Trusteos. With regard to the Poor fund, fiinds are needed to provide ndS to enable grants to be issued at short notice. With regard to the Len Rush Income fund. the policy of the Trustees is that all income should be expended on the lunches so that no re5erve5 are Jnaintailled. srRUCTtJRE. GOVERNANCE AND MANAGEMEr Governing document The charity is controlled by its governing document. a Scheme of the Charity Commissioners dated 31 August 1966. Fage 3
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 continued STRucfuRE, GOVERNANCE AND MANAGEMENf continued Recruitment and appointment of new tLWtees When recruiting new trustees, the present trustees consider the skill set the potential tnutee will bring to the chariry. Incoming trustees are appoinfed by a resoluuon of the trustees passed at a special meeting. Or8anis&tional strncture The charity is opeTared by the trusiees, who meet during the year tu review and manage the affairs of the trust. Induction aud trdining of new trurtees Once a new trnstee is appointed. they meet, before their first meetin8, Wlth a current trustee to discuss the eharity in more detail. STATEMETrrf OF TRUSTEES, RESPONSIBIIITIES The trustees are responsible for proparing the Report of the Trustees and the financiRI statements in accordance with applicable law and United Kingdom Accounting Standards {Uniced Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charitie8 Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provision8 of the tNst deed requires ¢he ttusreos to prepare financigl statements for each financial year which give a true and fair view of the state of affairs of the charity and of Ihe incoming resources and application of resources, including the income and expenditure, of ¢he charity for that period. In preparing those financial statements, the trustees are required to: 5ele¢t suitable accouThÉing policies and then apply them ¢onsistentlyi observe the methods and principles in the Chariry SORP. make judgements and estimates that are reasonable and prudent., state whether applieable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presurne that the ch8riry will conunue in business. The trusree3 are responsible for keeping proper accounting records which disclose with reasonable accuracy at any ume the financial position of the chariry and to enable them to eThsure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
KING'S LYNN GENERAL CHARITIES FOR THE YEAR ENDED 3 The trnstees are responsible for preparing the Report of the Trustees and the financial statements in aecordanee with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted AceounuTh8 Praetice). Approved by order of the board of trustees on . M J Frammingham - Trustee Pa8e 5
REPORT OF THE INDEPENDENf AUDoRs TO THE TRusfEES OF KINGS LYNN GENERAL CHAIUTIES Opinion We have audired the financial statements of King's Lynn General Charities {the 'charity') for the year ended 31 DeceJnber 2024 which comprise the Staternent of Financial Activities, the Balance Sheet and notes to the financial statelllents, including a surnmary of significant accounung policies. The financial reporting framcwork that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praccice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basi8 for opinion Wo conductod our audit in accordance with Tntornational Standards on Auditing (UK) {ISAs IUK}l and applicablc law. Our responsibilities under those Standards arc furrhcr describod in the Auditors, responsibilities for the audit of the financial statements section of our report. We are indcpcndent of the charity in accordance with the ethical require]nents that are relevant to our auait of the financtal statcments in the UK, including thc FRC'S F.thical Standard, and wc have lfilled our other ethical responsibilitios in accordance with thcsc r¢quiremonts. Wo belicve that the audit evidence we have obtaiThed is sufficient and appropriace to provide a basis for our opinion. Conclu8iOn8 rdatin8 to 80iiig concern Tn auditing rhe financial statements, we have eoncluded that the trustees, use of che going concern basis of accounung in the preparation of the financial starements is appropriate. Based on the work we have performed, we have noc identified any material uncercainties rela¢ing ro event5 or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going Concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitie3 of the trustees with respect to going concern are described in the relevant sections of this report. Other infonnation The trustees are responsible for the other inforniation. The other inforniation comprises the inforniauon included in the Annual Report, orher than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial siatements does not cover the other information aThd, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Page 6
INDEPENDENf AUDITORS TO T G'S LYNN G ¥1 In connection with our audit of the financial staternents, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstared. If we ideniify such material incollsistellcies or apparent Enaierial misstateJnents, we are required to determine whether this gives rise to a material misstaiement Én the financial statements themselves. If. based on the Work wo havo performed, we conclude that there is a material rnisstateznent of this other information, we are required ro repon that fact. We have nothing co repott in this regard. Matters on which we are required to report by exception We have noihing to report in respect of the following matlers where the Charities (Accounts and Reports} Regulauons 2008 requiTes us to reporr to you if, in our opinion.. the information given in the Reporr of the Trnstees is inconsistent in any material respect with the financial statement8; or sufficient accounting records have not been kept., or the financial statements are not in a8reement with the accounting records and returns. or we have not received all the infornkation and explanation5 we require for our audit. RespoDsibilltiei of tru$tee¥ As explained more fully in the Statement of Trustees, Responsibilities. the tNstccs are responsiblc for the preparation of the financial siaieTnents which give a true and fair view, and for such internal control as the trustees determine is necessary to eT)able the preparation of financial stateTnents that are free from material misstatement, whether due 10 fraud or error. In preparing the financial statements, the trusrees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either int¢nd to liquidate the chariry or to cease operations, or have no realistic altsrnative but to do so. Our re8pollsibi]ities for the audit of the finallc1 statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance About whether the financial Staternents as a whole are free froJn mateTial Jnisstaternent, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level OE assurance. but is not guaraThree thar an audit conducted in accordance with ISAS (UK) will always detect a material mi5sca¢ement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregul8ritie$, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregulariiies. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Page 7
INDEPEND G'S LYNN GE ORS USTEE As part of designiThg our audit, we detennined materiality and assessed the risks of material misstaternent in the financial statements. We considered potential financial or other pressures, oppottuniry and rnotivations for fraud. As part of this discussion we identified the internal controls estAbli8hed to mitig8te risk5 related to fraud or non-compliance with laws and regulations and how managernent monitor these processes. Appropriate PToeedure5 included rhe review and testing of rnanual journals and key estimates and judgemenrs made by management. We gained gn understanding of the le8al and regulatory framework applicable to the Charity, drawing on our broad sector experience, and considered the risk of acts by the Chariry that were contrary to these laws and regulations, including fraud. We focused on laws and regulations that could give rise to a material misstatement in che financial gtatemencs. Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management. We did not identify any key audit matters relallng to irregularilles. including fraud. As in all of our audits. we also addressed the risk of management override of internal controls including testing journalg. Our audit procedures were designed to respond to risks of material misstatement in the financial Statements, Teco8ni5ing that the risk of not detecting a material missiatement due to fraud is higher than the risk of not detocting onc rosulting from error, as fraud may involve deliberate concealment by. for example, forgery, misreprc$entations or through collusion. There are inherent limitations in Ehe audit procedures performed and the further removed non-compliance with laws and regul?tions is from the events and transactions reflected in the financial 81atements, the less likely we are to become aware of it. A fijrther description of our re$pon$ibilities for the audit of the financial Statements is located on the Financial Reporting Council's websire at www.frc.org,uldauaitorsresponsibilitie$. This description fonns parc of our Report of the Independent Auditors. U8e of our report This report is made solely to the chariry's trnstees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Reglllations 2008. Our audit work ha8 been undettaken so that we might stare ro the chariry's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fiille$t extent permitted by law, we do not accepi or assurne responsibility to anyone other than the chariry and the charity's trusrees as a body> for our audit work, for this report, or for the opinions we have formed. Hay Eligible to aet as an auditor in terrns of Section 1212 of the Companies Act Statutory Auditor 19 King Street King's Lynn Norfolk PE30 IHB ow Date- Page 8
IiARrrIES ATEMENT OF FINANCIALA 31.12.24 Total filnds 31.12.23 Totsl fiuLd5 huLd8 Notes INCOME AND ENDOWME FROM Chuitable &cuvitie5 Almshousos Donations and le8acies Investmen( income Other incojne 186,280 186,280 179,299 35,456 281 35,456 281 30,971 578 Totol 222,017 222,017 210.848 IPENDITUBI ON CbAritAble ActIvitl Almshou$e$ Poor Fund Chariry far Sermot)$ Annual lunches 101,523 431 474 920 101,523 431 474 920 171.433 543 103,348 103,348 172.076 Net gains on iThve$tmen¢$ 22,380 3,312 25,692 32,729 NET INCOME 141,049 3.312 144.361 71,501 Transfers beiween hjnds NeL movements in hJnd$ 141,049 3,312 144,361 71,501 RECONCILtATION OF FUNDS Total ndS brou8hr forward 841,529 37,604 28Q,059 1.159,192 1,087.691 TOTAL FUNDS CARRIED FORWARD 982,578 37.604 283,371 1,303,553 1,159,192 P2gÈ 9 The nore8 form part of these financial staremeTtts
ENERAL CHARITIES ALANCE SHE 24 31.12ll4 Total 31.12.23 Total Unrestricted Restiicted Endowment fia$ Note$ FIXED ASSETS Investments 627.193 37,074 149,907 8l4,174 767,892 Debtors Cath At bank 2,485 385,147 2,485 519,141 3,014 429,000 530 133,464 387,632 530 133,464 521,626 432,014 CREDITOBS Amounts fallin& due in oThe year 122,4031 122,4031 {24,3081 365,229 530 133,464 499,223 407.706 TOTAL ASSETS LESS CURR LIABILrrLES 992,422 37,604 283,371 1,313.397 1.175.598 CREDLTORS Amounts falling due afrer rnor¢ ¢han ont year 19,8441 {9.8441 {16.4061 982,578 37,604 283,371 1,303,$53 1.159.192 Unresiricitd funds Restricted funds Endowment ndS 982,578 982,578 37,604 283.37l 841,529 37.604 280,059 37,604 283,371 982,578 37,604 283,371 1.303,553 1,159.192 The financial Statements were approved by the Board of TN$tees and authorised for issue on.l.t*l. 2o1s.-. and were signed on its behalf by.. M J Fr8mmingham- Trus¢ee K Banks- Tn(ee Page 10 The notes form part of these financial statements
KING'S LYNN GENEBAL CHARITIES NOTES TO THE FfN CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 AccouNfiNG pollaES Basis of preparin8 the fillall statements The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Chariues SORP (FRS 102) 'Aceounting and Reporting by Charities,. Statement of Recommended Practice applicable to charities preparing their 2ecounis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cosi convention with the exception of investmentg which are includod at rnarkot value, as modificd by the revaluation of certain assets. Golng eollcern The trustees believe thai the chari£y is well placed to manage its financial and operational risks and therefore have a reasonable expectation that ir has adequate financial resources to continue in opcrational existonce to meer ILS liabiliries as they fall due for the foreseeable future. Accordingly. the charity conunues to adopt the going concern basis of preparation in preparing thc annual financial statements. Financial reportin8 Standard 102 - reduced di8c108ure exemptioD8 The eharity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The f4inancial Reporting Standard applicable in the UK and Republic of Ireland,: the requirement of Section 7 Statement of Cash Flows. Income All income is recogni8ed in the Statement of Financial Acuvities once the chariry has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obli8arion commiEting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligarion 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 directly attributed to particular headings they have been allocaied to activities on a basis consistent with the use of resources. Pagell
KING'S LYNN GENERAL CHARITIES NOTES TO THE FINANCIAL STATEMEFirs I DECEMBER 2024 continued Tangible Assets The charity owns the freehold of various properties in King's Lynn, all of which aTOSC from benefactors, donations many years ago. Because of these time 9cales the original cost is unknown. Similarly it is not possible to place a market value on the properties as the Trustees have no intention of disposing of them and, in any case, disposal would require Charity Commission approval. They are such unusual buildin88 with such a specific use that fornial property valuations are noc considered practical or meaningful. Consequently the freehold properties are not shown in the balance shect. The principal freehoia properties are'.- Framinghams Almshouse El8dens Almshouse St Mary Magdalen Almshotsse Marion Seamans Almshouse Smith & Wesleyans Almshouse The eharity also owns the freehold to various properties in Tennyson Avenue, Gaywood Road, King George V Avenue and Lynn Road. King's Lynn, all of which are subject to a lease of 999 years, the earliest of which was grdnted in 1895. The freehold reversions are available for purchase by the leaseholders if desired. Fixed asset investments Fixed asset invesimerAts are included at market value at the year end. Gains and losses on disposal and revaluation of investments are charged or credited to the Statement of Financial Activities. Taxation The chariry 15 exempt from tax on its charitable activities. Fund accounting Unrestricted fijnds can be used in accordance with the charitable objectives at the aiscretion of the tn2Stees. Page 12
KING'S LYNN GENERAL CHARITIES NOTES TO THE FINANCIAL STATEMEwrs ENDED 31 DECEMBER 2024 continue The charity has the following nd5'. General Funds: General ndS are unrestricted rtdS which are available for use ai the discretion of the Trusrees in the rtherance of the general objectives of the chariry and which have not been designated for other purpOS. The Cyclical Maintenance Fund and the Extraordinary Repair Fund are desi8Thated filnds. Cyclical Maintenance Fund..- This nd is maintained to meer Maintenance oecuffing at regular intervals. Transfers from the General Fund are made annually based upon the recommendations of The Almshouse As50ciation and the diseretion of the Trustees. Extraordinary Repair Fund: Thi5 nd is a reserve fiind for future major expenditure. Transfer8 from the General Fund are made annually based upon the recommendations of The Alm$house Association and the discretion of the TN8tees. Restricted Funds'.- ResEricted bjnds can only be used for p8rticular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when llds are raised for parucular restricted purposes. Endowment fund..- This nd represents those assets which must be heia permanently by the Charities, principally fixed asset investments and cash. INVESTM COmE 31.12.24 31.12.23 COIF NAACIF Accumulation shares Bxrclays Bank PIC Cambridge and Counties 7,405 20,590 4.228 3,233 7,286 19,135 2.480 2,070 35.456 30,971 Page 13
I(ING'S LYNN G NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 continued AUDITORS, REMUNERATION 31.12.24 31.12,23 Fees payable to the charity's auditors for the audiL of the Charity's financial statements 2,328 2,328 TRUSTEES, REMUNERATION AND BENFITS Thero woro no trust¢os' remuncrauon or other benefits for the year ended 31 December 2024 nor for the year ended 31 DeceJnber 2023. Trnstees, expenses There were no rrus¢ees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. During the year payments were made for reimbursement of general expenses as follow8:_ 2024 2023 M J Frammin8ham Mrs J Saunders A C Thorarinsson M5 S M Cambridge K Banks 453 70 528 199 1,250 NET RESOURCES EXPENDED FOR THE YEAR This 1$ stated after eharging: 2024 2023 Clerk's remuneration Auditor's remuneration 14,400 2,328 13,896 2,328 The Clerk's remuneration is paid to Wheelers Chartered Accountants for the administration of the Charity. FDD ASSET INvESTMETrs UD]iBted Investments At l January 2024 AddiiLOll8 Revaluations 767,892 20.590 25.692 At 31 December 2024 814,174 NET BOOK VALUE At 31 December 2024 At 31 December 2023 Page 14
NG'S LYNN GE HARITIES STAT THE FDD ASSET INVESTMENfs- continued There were no investment agsets outside the UK. Cost or valuation at 31 Deeember 2024 is represented by.. Unlisred Investments Valuauon in 2024 Cost 380,438 433,736 814.174 DEBTORS: AMouNfs FALLING DUE WITHIN ONE YEAR 31.12,24 31.12.23 Other debtors Prcpaymonts and accrued incomc 325 2,160 294 2,720 2,485 3,014 CREDITORS: AMouNfs FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Other loans (see note 10) Trade Creditors Accruab and deferred income 6,562 1,624 14,217 6,562 3,166 14,580 22,403 24,308 CREDITORS: Amols FAIIING DUE AFfER MORE THAN ONE YEAR 31.12.24 31.12,23 Oiher loans {see note 10) 9,844 16,406 10 LOANS An analysis of the rnaturity of loans is given below.. 31.12.24 31.12.23 Amounts falling due within one year on aemand: Almshouse AselatIOn 6.562 6.562 Amounts falling due within one and two years,. Almshouse Association 6,562 6,562 Amounts falling aue within two and five years.. Almshouse Association 3,282 9.844 Page 15
KtNG'S LYNN GENERAL CHARITIES NOTES TO THE FINANCIAL STA FOR THE YEAR ENDED I DECEMBER 2024 contynue 11 MoVEmETr IN FUNDS Net Transfers Movement between At At 01.01.24 in £unds fimd8 31.12.24 UDreJtrirted fitndg General fund Cyclical Maintenance Fund Extraordinary Repair Fund 173,076 154,129 423,188 95.409 1,751 40,207 (91.131) 177.354 17,648 173.528 73,483 536,878 Charity for the Poor Charity for Sennons King's Lynn & Wisbech Hospirals NHS Trust Bank interest received 53,377 2.042 2.248 {179) 55,625 1,863 136 136 Income Fund - Len Rush 35,577 1,613 37,190 841,529 141,049 982,578 Re8tricted Fundi Charity for tho Poor Capital Balance 17,074 17,074 15 Kenr Road Fund 20,530 20.530 37,604 37,604 Endowment fund8 Permanent Endowmenr Fund 280,059 3,312 283,371 1,159,192 144,361 1,303,553 Page 16
KING'S LYNN GEl+]ERAL CHARITIES NOTES TO THE ANCIAL STATEMETrirs FOR 11 MovTr IN FUNDS- eontinued Net nwvement in fuDds, i3uded in the above are a5 follows." Incoming Resource8 GaiDS and Movement 108se3 in fiuknls Unre8tricted fun<b General fund Cyclical Mi aintenance Fund Extraordinary Repair Fund 196.656 (101.5231 1,751 20,590 276 95.409 1,751 40,207 19,617 Charity for the Poor Charity for Sermons King's Lynn & Wisbeeh Hospitals NHS Trnst Bank interest received 1,382 260 (431) (474) 1,297 35 2.248 1179) Income Fund - Len Rush 1,378 1920) 1,155 1,613 222,017 1103,348) 22,380 141,049 Restricted PLmd8 Charity for the Poor Capital Balance 15 Kent Road Fund Endowment fund8 Permanent Endowment Fund 3,312 3.312 TOTAL FUNDS 222,017 (103,348) 25,692 144,361 Page 17
KING'S LYNN GENERAL CHARfriES NOTES TO THE FINANCIAL STATEMENrs ENDE DECEMBER 2024 continued 11 MOVEME1 IN FUNDS. continued cOparatIveS for movement in funds". Net TraDsfer6 movement between At in llaS funds 31.12.23 At 01.01.23 UDrestricted fLwdJ General fund Cyclical 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 King's Lynn & Wisbech Hospitals NHS TNst 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 Re8tti¢ted Fund8 Charity for the Poor Capital Balance 17.074 17,074 15 Kent Road Fund 20,530 20,530 37.604 37,604 Endowment fund8 Permanent Endowment Fund 267,533 12,526 280,059 TOTAL FUNDS 1,087.691 71,501 1,159,192 Page 18
ENERAL CHARITIES OTES TO THE FINANCIAL STATEME 11 MoVEmETr IN FUNDS. continued Comparative net movement in funds, included in the above are as follows.. Incoming Resource8 Galns and Movement resources expended UDrestricted funds General lld Cyclical Maintenance Fund Exrraorainary Repair Fund 187.668 (171.433) 1,097 19,135 1,046 17,281 1,097 29,305 10,170 Charity for the Poor Charity for Sertnons King's Lynn & Wisbech Hospitals NHS Trust Bank interest received 1.577 42 {iooi 4,907 135 6,384 177 Income Fund- Len Rush 1,329 {5431 3,945 4,731 210,848 (172.076) 20,203 58,975 Re8trieted fimds Charity for the Poor Capital Balance 15 Kent Road Fund Endowment funds Permanent Endowment Fund 12,526 12,526 TOTAL FUNDS 210,848 (172,076) 32,729 71,501 Within the unrestricted income nd is an amount of £254,670 which represents the unrealised gains on revaluation 0£ the investments. Within the endowment nd ig an amount of £125,768 which represents the unrealised gains on revaluation of tlie investrnents. 12 RELATED PARTY DISCII)SURES The accounts contain expenditure for maintenance Work of £7,892 pakd to Mr J Saunders who is the husband of tNstee, Mrs J Saunders. Page 19
KING'S LYTr4N GEf4EBAL CHARrriES DETAILED sTATEmETr OF FINANCIAL A]VITIEs FOR THE YEAR ENDED 31 DECEMBER 202 31.12.24 31.12.23 Unrestricted Endowmellt Funds INCOME AND ENDoWMErS Inve5tllLent illcome COIF Incorne NAACIF Accumulation shaTes Barclays Bank PIC Cambridge and Counties 4,421 20,590 4,192 3,233 4,421 20,590 4,192 3,233 4,361 19,135 2,457 2,070 32,436 32,436 28,023 ChArit#blÈ activities Contriblttion from Almshouse residents 186,280 186,280 179,299 Other Income Ground rents Sundry 31 250 31 250 31 547 281 281 578 Totsl Incojne resources 218,997 218,997 207,900 EyENDTuRE Charitable aCtille8 Repairs and maintenance Water rates Insurance Light and heat Telephone Careline Television licences 41,107 5,675 4,761 23,676 2,382 5,533 52 41,107 5,675 4,761 23,676 2,382 5,533 52 111,221 5,163 4,401 22,829 3,328 4,710 75 83,186 83,186 151,727 Page 20 Thi$ page does not forrn pan of the 5tawtory finanoal $ratements
I(ING'S LYNN GENERAL CHARrrIES DETAILED sTATEmEr OF FINANCIAL ACThTIES FOR THE YEAR ENDED 31 DECEMBER 2024 31.1224 31.1223 Unrestricted EJLdowment Funds Funds Support Costs Managernent Clerks salary Svbscriptions Sundry Mortgage costs Bank charge5 14,400 602 582 328 97 14,400 602 582 328 97 13,896 353 2,504 528 97 16,009 16,009 17,378 Governance c08ts Auditors, remuneration 2,328 2,328 2,328 Total resources expended 101,523 101,523 171,433 Net income 117,474 117,474 36,467 Page 21 Thts page does not fom pArL of the $tarntory financial siatements
KING'S LYNN GENERAL CHARrriES HARTfY TRUSTEES AlllD STATEmETr OF FINANCIAL ACThVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Totsl 31.12.23 Total Fund5 Unze8tricted Rertricted Funds Funds INCOME AND ENDOWMETrtES IDvesttneDt incollLe COIF Income shares 1.642 1,642 1,619 Totsl iDCOmiD8 re8ouzce5 1,642 1,642 1,619 EXPENDITURE ChAritAble #etivities Distributions 804 804 Support costs Management Bank charges ioi ioi loo Total resources expended 905 905 loo Net incorne 737 737 1,519 Page 22 This page do¢$ not £oTin part of the statutory financial statements
KING'S LYNN GEf4EBAL CHARITJES LEN RUSH CHARITY DETAILED STATEMEr F FINANCIAL ACEs 24 31.1224 Total 31.12.23 Total Funds UDrestticted Re9tricted Fund5 COME AND ENDOWMETrTrs Investment income COIF income and fixed interest shares Barclays Bank PIC 1,342 36 1.342 36 1,306 23 1,378 1,378 1,329 Tocal incomin8 resources 1,378 1,378 1.329 CharitAble activities Annual lunches 818 818 444 Support costs Management Bank Charges 102 102 99 Total resource$ expended 920 920 543 Net incon 458 458 786 Page 23 This page does not form part of the statutory financial statements