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2023-12-31-accounts

HOGSTHORPE CHARITIES Trustee5' report and Accounts For Ihe year ended 31 December 2023

HOGSTHORPE CHARITIES For the year ended 31 December 2023

Contents
Trustees' Report 3-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-10

HOGSTHORPE CHARITIES

TRUSTEES ANNUAL REPORT For the year ended 31 December 2023

The trustees submit their annual report and unaudited financial statements for the year ended 31 December 2023 The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in 2005 in preparing the annual report and financial statements of the charity.

Reference and administrative details

Registered charity number: 235870/235871 Trustees: Chairman: N Balderston Vice-Chairman: D Taylor M Banks B Hornby C Paul J Pridgeon P Pridgeon S Stow

Registered address

Mill Lane, Addlethorpe, Skegness, PE24 4TB

Independent Examiner

J Barker FCCA

Governance and Management

The trustees have overall responsibility for the Charity. Mr Balderston is the elected chairman and Mr D Taylor is the elected vice-chairman.

Hogsthorpe Charities is made up from the Charity of Thomas Ashton (No. 235870) and Charity of Thomas Goodwin (No 235870)

The constitution provides that the Trustees consist of: The vicar of Hogsthorpe Up to: Two Church Wardens Three Co-opted members Three Parish Councillors

Trustees do not receive formal training but some attend courses as necessary.

Objectives and Activities

(a) Governing document

Governed by the Scheme of the 8 November 1639 as varied by Scheme of 21 June 1967. Also the Charity of Thomas Ashton is governed by the Scheme of 3 December 1982.

(b) Objects

£10 to the Minister and churchwardens for the time being of the parish church of the Ecclesiastical parish of St Mary, Hogsthorpe to be applied for or towards the amendments of the said church. £10 for the benefits of poor persons residing in the ancient borough of Hogsthorpe in grants of money or gifts in kind. Residue of income to be applied for the benefit of young persons under 25 years of age resident in the area of the ancient borough of Hogsthorpe who are in need of financial assistance.

(c) Activities

The making of grants to individuals or organisations from monies received from rental properties and investments.

3

HOGSTHORPE CHARITIES

TRUSTEES ANNUAL REPORT For the year ended 31 December 2023

Public Benefit

The trustees have had due regard of the Charity's Commissions's guidance on public benefit in undertaking their activities in line with this and the requirements of the governing document.

Achievements and Performance

There were 34 distributions within the year (2022:33) totalling £5,245 (2022: £3,805). During the year a small portion of the land was sold, this is reflected in the current assets until the trustees re-invest the proceeds.

Financial Review

The Statement of Financial Activities for the year is set out on page 3 of the Financial Statements. A summary of the policy on reserves is set out below.

Reserves policy

The Trustees ensure the Charity retains sufficient reserves to maintain the property in good condition. Where possible they will invest excess monies into secure long term investments for future security of the Charity.

N Balderston Chairman

Date:

4

HOGSTHORPE CHARITIES

INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS For the year ended 31 December 2023

I report to the trustees of Hogsthorpe Charities on the accounts for the year ended 31 December 2023 set out on pages three to seven.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts.

The charity's trustees consider than 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 my responsibility as examiner to:

Basis of independent examiner's statement

My examination was carried out in accordance with 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 my examination, no matter has come to my attention

  1. Which gives me reasonable cause to believe that in any material respect the requirements:

  2. to keep accounting records in accordance with section 130 of the 2011 Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

J Barker FCCA Date: Independent Examiner The Grange Anderby Skegness PE24 5XY

5

HOGSTHORPE CHARITIES

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023

Note
INCOMING RESOURCES
Income from investments
2
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Costs of generating funds
3
Charitable activities:
Distributions
4
Support costs
5
Governance costs
6
TOTAL RESOURCES EXPENDED
NET MOVEMENT IN FUNDS
GAINS ON INVESTMENTS
7
BALANCES BROUGHT FORWARD
AT 1 JANUARY
BALANCE CARRIED FORWARD
AT 31 DECEMBER		 2023
2022
£
£
123,516
19,327
123,516
19,327
8,068
9,861
5,245
3,805
500
500
2,195
1,714
16,008
15,880
107,508
3,447
1,008
(1,485)
40,355
38,393
148,870
40,355
TOTAL FUNDS

The Charity had no Restricted Funds

6

HOGSTHORPE CHARITIES

BALANCE SHEET For the year ended 31 December 2023

Note
FIXED ASSETS
For use of charity:
Investments
7
Improvements to property
8
CURRENT ASSETS
Cash at bank
CURRENT LIABILITIES
Creditors: Amounts falling due within one year
9
NET CURRENT ASSETS
LONG TERM LIABILITIES
Creditors: Amounts falling due in more than one year
10
NET ASSETS
FUNDS
Unrestricted funds
11		 2023
2022
14,050
13,042
57,796
57,796
71,846
70,838
117,994
13,853
117,994
13,853
975
950
117,019
12,903
39,995
43,387
148,870
40,355
148,870
40,355
148,870
40,355

Approved by the trustees on ______ and signed on its behalf by:

N Balderston Chairman

7

HOGSTHORPE CHARITIES

NOTES TO THE ACCOUNTS For the year ended 31 December 2023

1 ACCOUNTING POLICIES

The financial statements have been prepared under the historical cost convention as modified by the inclusion of investments and fixed assets at market value and in accordance with applicable accounting standards. In preparing the financial statements the charity follows best practice as laid down in the Statement of Recommended Practice (SORP 2005) "Accounting and Reporting by Charities"

(a) Investment income is accounted for in the period in which the charity is entitled to receipt.

(b) Expenditure is included on an accruals basis.

(c) Property Improvements are depreciated on a 5% straight line basis.

2 INVESTMENT INCOME
Rental income & Wayleaves
Deposit interest
Sale of land
Donation
3 COST OF GENERATING FUNDS
Drainage fees & insurance
Sundries
Meetings
Repairs
Property Management Fees
Depreciation
Loan Interest		 2023
£
23,141
241
100,000
134
123,516
2023
£
1,066
186
75
2,820
1,144
0
2,777
8,068		 2022
£
19,121
206
0
19,327
2022
£
1,037
145
60
978
914
4,919
1,807
9,861

The costs of fundraising are all management expenses.

4 DISTRIBUTIONS
Grants to individuals
5 SUPPORT COSTS
Clerk's wages		 2023
£
5,245
5,245
2023
£
500		 2022
£
5,085
5,085
2022
£
500

8

HOGSTHORPE CHARITIES

NOTES TO THE ACCOUNTS For the year ended 31 December 2023

.

6 GOVERNANCE COSTS

6 GOVERNANCE COSTS
Accountancy
Road repairs
Professional fees
7 FIXED ASSET INVESTMENTS
Market value at 1 January
Additions
Disposals
Change in market value
Gains realised on disposal
Market value at 31 December		 2023
£
275
-
1,920
2,195
2023
£
13,042
-
-
1,008
14,050		 2022
£
225
536
953
1,714
2022
£
14,527
-
-
(1,485)
13,042

These are unlisted investments in the form of Charity funds.

In addition the Charity owns a house, a barn that has been developed and 49 acres of land which is not included in these accounts but is valued in excess of £500,000.

8 IMPROVEMENTS TO PROPERTY
Cost at 1 January
Barn Conversion Costs
Depreciation b/fwd
Charge for the year
Market value at 31 December
9 CREDITORS
Tenant's deposits
Accruals
Other Creditors		 2023
£
98,390
-
(40,593)
57,796
2023
£
700
275
-
975		 2022
£
98,390
-
(35,674)
(4,919)
57,796
2022
£
700
250
-
950

9

HOGSTHORPE CHARITIES

NOTES TO THE ACCOUNTS For the year ended 31 December 2023

10 CREDITORS (amounts due in more than one year)

Bank Loan 2023
£
39,995
39,995		 2022
£
43,387
43,387

The loan in secured by Clydesdale bank by way of legal charge over land at Charity Farm Mill Lane

11 FUNDS

Balance at 1 January
Net incoming resources before investment gains
Investment gain:
Unrealised		 Unrestricted
Funds
£
40,355
107,508
1,008
Balance at 31 December 148,870
Represented by:
Investments
Improvements to property
Current assets
Current liabilites
Long Term Liabilities		 14,050
57,796
117,994
(975)
(39,995)
148,870

10