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: - examine the accounts under section 145 of the 2011 Act, - to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and - to state whether particular matters have come to my attention. ## **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: - to keep accounting records in accordance with section 130 of the 2011 Act; and - 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 2. 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