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2022-12-31-accounts

REGISTERED CHARITY NO: 234281

ROBERT MONK’S FOXTON CHARITY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

SOMERBYS LIMITED CHARTERED ACCOUNTANTS 30 NELSON STREET LEICESTER LE1 7BA

ROBERT MONK’S FOXTON CHARITY

INDEX

Page
Legal & Administration Information 1
Annual Report of the Trustees 2 - 3
Independent Examiner’s Report to the Trustees 4
Statement of Financial Activities 5 - 6
Balance Sheet 7
Notes to the Accounts 8 – 13

ROBERT MONK’S FOXTON CHARITY

CHARITY REGISTRATION NO: 234281

Legal and administrative information

Trustees Victoria Bray (Chair)
Kerry Farnsworth
Tessa Barrs
Penny DeGruchy
Keith Gubbins
Nicola Hazell (Vice Chair)
Toni Dawn Rice (appointed 29 June 2022)
Roger Phillips
Secretary/Office Sarah Luke
14 Paget Street
Kibworth
Leicester
LE8 0HW
Bankers HSBC Bank plc
15 High Street
Market Harborough
Leicestershire
LE16 7NN

1

ROBERT MONK’S FOXTON CHARITY

ANNUAL REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2022

CONSTITUTION OF THE CHARITY

Robert Monk's Foxton Charity is registered with the Charity Commission for England and Wales as an Unincorporated Charity with the governing document of a scheme dated 16 December 1927 plus subsequent variations. Charity office address and charity number are shown on page 1.

The Charity owns the land and buildings known as the Robert Monk Village Hall and Recreation Ground in Foxton, Leicestershire. The land is vested with the Official Custodian.

STRUCTURE AND MANAGEMENT

The Charity is administered by the Trustees listed on Page 1, all of whom served from 1 January 2022 to the date of this report, except where shown. Two trustees are appointed by each of Foxton Parish Council, Leicestershire County Council, and Harborough District Council. The remaining trustees are ex-officio, namely the local District Councillor, the Vicar of Foxton and two churchwardens. At present there are two trustee vacancies.

The Charity pays the remuneration of the secretary. The secretary has responsibility for day to day management of the Charity.

The Trustees held five meetings during 2022.

PUBLIC BENEFIT

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s Aims and Objectives and in planning future activities.

OBJECTS OF THE CHARITY

The objects of the Charity are to maintain the village hall and adjacent recreation ground in the parish of Foxton for operational use and to provide loans and grants as permitted.

ACHIEVEMENTS AND PERFORMANCE

The hall is available for hire by both local and non-local groups and individuals.

The Charity has been successful in raising funds during the year allowing it to maintain and upgrade the hall, grounds and children’s play area.

No requests for loans were received by the charity during 2022. A payment of £200 was paid from the Coal Fund to the Foxton Parochial Fund to assist various Foxton residents.

RESERVES POLICIES

The unrestricted funds are £206,831 (2021 : £233,549). These are kept at a relatively high level due to the age of the village hall.

The Charity has restricted reserves of £291,633 (2021 : £312,692).

GRANT-MAKING AND LOANS

Applications for grants and loans are considered by the trustees. They are only available to Foxton residents.

INVESTMENT SELECTION

100% of invested funds are held in COIF Charities Investment Fund and treated as a fixed asset. Surplus cash is held in COIF Charities Deposit Fund and shown as a current asset.

RISK FACTORS

The Trustees regularly review the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure.

2

ROBERT MONK’S FOXTON CHARITY

ANNUAL REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2022

PLANS FOR THE FUTURE

The charity plans to continue the activities outlined above for the forthcoming year. The trustees will continue to promote the aims of the charity and to maximise investment returns, in order to secure the projects of the charity.

Approved by the Board of Trustees of Robert Monk's Foxton Charity and signed on its behalf by:

Chair of Trustees

Victoria E Bray Victoria E Bray (Mar 23, 2023 10:51 GMT)

…………………………..

Dated: 20 March 2023

3

ROBERT MONK’S FOXTON CHARITY

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES YEAR ENDED 31 DECEMBER 2022

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022 which are set out on pages 5 to 13.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Marcus Dockerty

Marcus Dockerty (Mar 23, 2023 13:41 GMT)

Marcus W Dockerty, FCA FCCA SOMERBYS LIMITED Chartered Accountants 30 Nelson Street Leicester LE1 7BA

Date: 20 March 2023

4

ROBERT MONK’S FOXTON CHARITY

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2022

Note
Incoming resources
Fundraising
Grants
2
Investment income
3
Letting fees
Total incoming resources
Resources expended
Direct charitable expenditure
4
Management and administration of the charity
5
Fundraising costs
Total resources expended
Net incoming/ (outgoing) resources before transfers
Transfers between funds
Net incoming/ (outgoing) resources for the year
Other recognised gains/(losses)
Investments unrealised gains/(losses)
6
Net movement in funds
Balances brought forward at 1 January 2022
Balances carried forward at 31 December 2022		 Unrestricted
Funds
£
-
-
5,123
20,826
25,949
18,915
19,939
-
38,854
(12,905)
7,013
(5,892)
(20,826)
(26,718)
233,549
206,831		 Restricted
Funds
£
4,044
20,390
7,573
-
32,007
9,368
-
1,020
10,388
21,619
(7,013)
14,606
(35,665)
(21,059)
312,692
291,633		 Total
2022
£
4,044
20,390
12,696
20,826
57,956
28,283
19,939
1,020
49,242
8,714
-
8,714
(56,491)
(47,777)
546,241
498,464

The notes on pages 8 to 13 form part of these accounts

5

ROBERT MONK’S FOXTON CHARITY

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2021

Previous financial year
Note
Incoming resources
Legacy
Grants
2
Covid 19 Furlough Income
Investment income
3
Letting fees
Total incoming resources
Resources expended
Direct charitable expenditure
4
Management and administration of the charity
5
Total resources expended
Net incoming/ (outgoing) resources before transfers
Transfers between funds
Net incoming/ (outgoing) resources for the year
Other recognised gains/(losses)
Investments unrealised gains
6
Net movement in funds
Balances brought forward at 1 January 2021
Balances carried forward at 31 December 2021		 Unrestricted
Funds
£
2,000
11,003
1,723
4,610
9,983
29,319
16,582
11,185
27,767
1,552
6,833
8,385
22,250
30,635
202,914
233,549		 Restricted
Funds
£
-
-
-
7,379
-
7,379
546
-
546
6,833
(6,833)
-
39,428
39,428
273,264
312,692		 Total
2021
£
2,000
11,003
1,723
11,989
9,983
36,698
17,128
11,185
28,313
8,385
-
8,385
61,678
70,063
476,178
546,241

6

ROBERT MONK’S FOXTON CHARITY

BALANCE SHEET AT 31 DECEMBER 2022

Note
Fixed assets
Land and buildings
6
Investments
7
Current assets
Cash at HSBC
Cash at COIF Charities Deposit Fund
Debtors
8
Current liabilities
Creditors falling due within one year
9
Net current assets
Net assets
Represented by:
Unrestricted funds
Restricted funds
10		 24,000
41,156
2,462
67,618
(4,247)		 2022
£
-
435,093
63,371
498,464
206,831
291,633
498,464		 17,692
40,759
2,459
60,910
(6,254)		 2021
£
-
491,585
54,656
546,241
233,549
312,692
546,241

Approved by the Board of Trustees of Robert Monk’s Foxton Charity and signed on its behalf:

Victoria E Bray Victoria E Bray (Mar 23, 2023 10:51 GMT)

……………………………………. Chair of the Trustees

Date: 20 March 2023

The notes on pages 8 to 13 form part of these accounts.

7

ROBERT MONK’S FOXTON CHARITY

NOTES FORMING PART OF THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022

1. Accounting policies

Basis of preparation

1.1 Accounting Convention

The financial statements have been prepared in accordance with the charity’s governing document and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016).

The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going Concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees have considered a period of 12 months from the date of approval of the financial statements. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Fund accounting

The charity maintains two types of funds as follows:

Restricted funds – Restricted funds represent grants and donations received which are allocated by the donor for specific purposes.

Unrestricted funds – Unrestricted funds represent income, which is expendable at the discretion of the trustees in the furtherance of the objects of the charity.

1.4 Income

Income is recorded when the charity becomes entitled to the resource. Grants receivable are credited to the Statement of Financial Activities (SOFA) in the year for which they are received. Deferred income represents amounts received for future periods and is released to incoming resources in the period of which it relates. Investment income and rental income is included in the SOFA in the year which it is receivable.

1.5 Expenditure

Expenditure is accounted for on an accruals basis and has been classified under the heading that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resource

8

ROBERT MONK’S FOXTON CHARITY

NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2022

1.6 Land and buildings

As noted in the trustees report, the charity owns the land and the buildings known as the Robert Monk Village Hall and Recreation Ground in Foxton, Leicestershire. The land was gifted to the charity when it was established in 1927 and is vested with the Official Custodian. The land and buildings are included in the accounts at £nil cost. All expenditure on alterations, improvements and other additions have been written off as incurred, over the period of ownership.

1.7 Listed Investments

Listed investments are stated at market value. Gains or losses on investments, whether realised or unrealised, are disclosed in the Statement of Financial Activities. Realised gains or losses on investments sold in the year are calculated as the difference between the amount at which the investments were valued at the beginning of the year (or cost if purchased during the year) and sale proceeds.

1.8 Taxation

The charity is exempt from taxation on its charitable activities.

1.9 Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

2. Grants

Lottery grant
Tesco grant
HDC grant
HDC Covid grant		 2022
Unrestricted
£
Restricted
£
-
10,000
-
1,000
-
9,390
-
-
-
20,390		 2021
Unrestricted
£

-
-
-
11,003
11,003
Restricted
£
-
-
-
-
-

9

ROBERT MONK’S FOXTON CHARITY

NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2022

3. Investment income

Unrestricted
Fund
£
COIF Charities Deposit
Fund
397
COIF Charities
Investments
4,726
5,123
irect Charitable Expenditure
Unrestricted
Fund
£
Grants
-
Building maintenance:
Electricity
1,131
Gas
1,391
Water charges
266
Insurance
1,863
Playing field maintenance
1,280
Household
284
Repairs
12,700
Playing field for a new
football pitch
-
18,915		 Restricted Funds
Loan
Fund
£
Coal
Fund
£
-
-
7,013
560
7,013
560
Restricted Funds
Loan
Fund
£
Coal
Fund
£
-
200
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
200		 Other
Restricted
Funds
£
-
-
-
Other
Restricted
Funds
£
-
-
-
-
-
-
-
-
9,168
9,168		 2022
£
397
12,299
12,696
2022
£
200
1,131
1,391
266
1,863
1,280
284
12,700
9,168
28,283		 2021
£
5
11,984
11,989
2021
£
796
941
1,576
377
1,736
7,297
665
3,740
-
17,128

4. Direct Charitable Expenditure

10

ROBERT MONK’S FOXTON CHARITY

NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2022

5. Management and Administration

Wages
Secretary’s remuneration
Administration expenses
Professional fees
Licences		 Unrestricted
Fund
£
5,829
9,018
1,684
3,276
132
19,939		 Restricted Funds
Loan
Fund
£
Coal
Fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 Other
Restricted
Funds
£
-
-
-
-
-
-		 2022
£
5,829
9,018
1,684
3,276
132
19,939		 2021
£
897
8,003
1,464
60
761
11,185

Trustees’ Remuneration and Benefits

There were no trustees’ remuneration or other benefits for the year ended 31 December 2022 (2021 - £nil).

Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 December 2022 (2021 - £nil).

Employees

The average monthly number of employees during the year (part time) was 1 (2021 – 1).

6. Land and buildings

The Village Hall and Recreation Ground is held at nil cost in the financial statements, the land having been gifted to the charity when it was established in 1927 and the village hall erected shortly thereafter. The trustees do not consider it necessary to have the land and buildings formally valued.

7. Investments

COIF Investment
Portfolio
Market value – 1
January 2022
Additions
Disposals
Net unrealised
investment gain
Market value – 31
December 2022		 Unrestricted
Fund
£
179,106

-
-
(20,826)
158,280
 Restricted Funds
Loan
Fund
£
Coal
Fund
£
291,259
21,220
-
-
-
-
(33,199)
(2,467)
258,060
18,753		 Other
Restricted
Funds
£
-

-
-
-
-
 2022
Total
£
491,585

-
-
(56,492)
435,093
 2021
Total
£
429,907
-
-
61,678
491,585

11

ROBERT MONK’S FOXTON CHARITY

NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2022

8. Debtors

Prepayments
Other debtors
Creditors falling due within one year.
Accruals and payments in advance		 2022
£
973
1,489
2,462
2022
£
4,247
4,247		 2021
£
890
1,569
2,459
2021
£
6,254
6,254

9. Creditors falling due within one year.

10. Restricted funds

Loan Fund
Coal Fund
New playground
equipment
funding
Playing field for
new football pitch
funding		 At 1 January
2022
£
291,387
21,305
-
-
312,692		 Incoming
Resources
£
7,013
560
15,044
9,390
32,007		 Outgoing
Resources
£
(33,198)
(2,667)
(1,020)
(9,168)
(46,053)		 Transfer
£
(7,013)
-
-
-
(7,013)		 At 31
December 2022
£
258,189
19,198
14,024
222
291,633

Loan Fund

Coal fund

Playing field for new football pitch Fund

During the year investment income generated on the loan fund has been transferred into unrestricted funds.

12

ROBERT MONK’S FOXTON CHARITY

NOTES FORMING PART OF THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2022

2021
Loan Fund
Coal Fund		 At 1
January
2021
£
254,595
18,669
273,264		 Incoming
Resources
£
43,625
3,182
46,807		 Outgoing
Resources
£
-
(546)
(546)		 Transfer
£
(6,833)
-
(6,833)		 At 31
December
2021
£
291,387
21,305
312,692

10. Analysis of net assets between funds

Restricted Funds:
Loan fund
Coal fund
Playing field for new football pitch funding
New playground equipment funding
Unrestricted funds		 Investments
£
258,060
18,753
-
-
276,813
158,280
435,093		 Current
Assets/
Liabilities
£
129
445
222
14,024
14,820
48,551
63,371		 Total
£
258,189
19,198
222
14,024
291,633
206,831
498,464

13