REGISTERED CHARITY NUMBER: 236049 Report of the Trustees and Unaudited Finanual Statements for the Year Ended 31st Oecember 2023 for The Hofybourne Complin Trust
The Holybourne Complin Trust Contents of the Financlal Statements for the Year Ended 31st December 2023 Page Report of the Trustees Independent Examlner's Report Staternent of Financial Activities Balarbce Sheet Notes to the Financial Statements 6 to 10 Detailed Statement of Financial Actiyitses li
The Holybourne Complin Trust Report of the Trustees for the Year Ended 31st December 2023 The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of 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 IFRS 1021 leffective l January 20191. OBJECTIVES AND AcnvmE5 Objectives and aims The objectives of the charity are l.The provision of three almshouses for poor aged persons of good character living in Holybourne and Nealham. Residents contribule a weekly sum towards the maintenance of the almshouses without causing hardship. Vacancies are advertised and applications for appointment made to the trustees. 2. Relief for persons resident in the parishes of Holybourne, Neatham and Alton as constituted on 13th May 1932 who are in conditions of need. hardship and distress. Public benefit The trustees have considered the Charity Commission's guide on public benefit and has established a policy of making gifts of money to help the elderly or these in need or hardship living in the area of benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities During the year the charity ha5 received weekly maintenance contributions from the residents of the almshouses and interest on investments and continue to apply funds on the maintenance of the almshouses and the relief of those in need. Details of income and expenditure re set out on page 3 of these accounts. FINANCIAL REVIEW Reser4es policy It is the trustees policy to maintain a balance of unrestricted funds to cover the provision of emergency funding for the residents of Holybourne and Neaiham who are elderly or in need. A reserve fund is also maintained to carry out major repairs or improvements to the charity's properties. It IS the trustees policy to invest these funds in C.O.l.F income shares. FufuRE PLANS The trust has plans to undertake a program of refurbishment on the almhouses it already owns to include the fitting of solar panels. It is also searching for a suitable property to Use as an almshouse in the area of benefit. The trust will continue to make charitable grants to individuals and to local charitable institutior)s providing that they continue to meet the conditions laid down by the Trustees. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing document The charity is administered under the deed of gift dated 13th May 1932 and the scheme approved by The Charity Commission dated 14th November 1984. Page I
The Holybourne Complin Trust Report of the Trustees for the Year Ended 31st Dember 2023 STRucfuRE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees The trust deed provides for one ex-officio trustee. one nominative Ilustee and three co-optative trustees. New cikoptalive trustees should be persons who through residence. ocCUpatn or employment or otherwise have special knowledge of the area of benefit. They are appointed by the existing trustees and serve for five years after which they may put themselves fonvard for re*lection. The nominative trustee is appointed by Alton Town Council and they serve for a term of four years. The ex-officio trustee should be the vicar in charge of the Ecclesiastical Parish of The Resurrection Alton. All irustees give their time freely and no trustee remuneration was paid during the year. REFERENCE AND ADMINISTRATWE DETAILS Registered Charity number 236049 Prfncipal addre55 2 Oriel Court Omega Park Alton Hampshire GU34 2 Trustees Rev A M Micklefield ex-officio Mrs S D Lloyd co-opted J L Voller nominative Mrs C A Wallis co-opted P J Sharpe co-opted Mrs S Bennett co-opted Independent Examiner Cherry Dowsett 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Approved by order of the board of trustees on 29th October 2024 aThJ signed on its behalf by= Mrs S Bennett - Trustee Page 2
Independent Examiner'5 Report to the Trustees of The Holybourne Complin Trust Independent examiner'5 report to the trustees of The Holyboume Complin Twst I report to the charity trustees on my examination of the accounts of The Holybourne Complin Trust Ithe Trust) for the year ended 31st December 2023. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requiremenls of the Charities Act 20111'the Act'l- I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act anrj in carrying out my examination I have followed all applicable Direclions givet7 by the Charity Commission under Section 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no malerial matters have come to my attention in connection with the examination givir)g me cause to believe that in èny material respect= accounting records were not kept in respect of the Tnjst as reqUId by Section 130 of the Acl- or the accounts do not accord with those records.. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulations 2Q)8 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. Cherry Dowsett 2 Oriel Court Omega Park Alton Hampshire GU34 2 29th October 2024 Page 3
The Holybourne Complin Trust Statement of Financial Artivities for the Year Ended 31st December 2023 2023 Unrestricted funds 2022 Total funds Notes INCOME AND ENDOWMENT5 FROM Funds generated from property Investment income 16,148 9,604 14.217 7,583 Total 25,752 21,800 EXPENDITURE ON Charitable activities Relief in Need Property expenses 13,450 14,875 2,655 661 1.718 1,305 Other costs Total 16,766 17.898 Net gainslllossesl on investments 30.228 137,4241 NET INCOMEIIEXPENDITURE) 39,214 133,5221 RECONCILIATION OF FVNDS Total fkjnds brought forward 1,087.725 1,121,247 TOTAL FUNDS CARRIED FORWARD 1,126,939 1,087,725 The notes form part of these financial statements Page 4
The Holybourne Complin Trust Balance Sheet 31st December 2023 2023 Unrestricted funds 2022 Total funds Notes FIXED ASS$ Tangible assets 705,(K)O 705,OC¥J CURRENT ASSETS Investments Cash at bank 331.187 90,752 300,957 81,768 421,939 382,725 NETCURRENT ASSETS 421,939 382,725 TOTAI ASSETS LESS CURRENT LIABILITIES 1,126,939 1,087,725 NET ASSETS 1,126,939 1,087,725 FUNDS Unrestricted funds 1.126.939 1,087,725 TOTAL FUNDS 1,126,939 1,087,725 The financial statements were approved by the Board of Trustees and authorised for issue on 29th October 2024 and were signed orb its behalf by= J L Voller- Trustee The notes form part of these financial statements Page 5
The Holybourne Complin Trust Notes to the Financial Statements for the Year Ended 31st December 2023 ACCOUNTING POLICIES 8a%s of preparing the financial statements The financial statements of the charity, which is a public benefir entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordarbce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191.. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charitres Act 2011. The fir)ancial statement5 have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilitie5 are recogni5ed as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate 311 cost related to the category. Where costs tannot be directly attributed to particular headings they have been allocated to activitie5 on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but nol accrued as expenditure. Taxation The charity is exempt froffl tax on its charitable activities. Fund atcounting Unrestricled funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charitv. Fie5trictions arise when specified by the donor or when funds are raised for particular restricted p(Jrposes. Further explanation of the nature ar)d purpose of each fund is included in the notes to the financial statements. Page 6 continued...
The Holybourne Complin Trurt Notes to the Financial Statements - continued for the Year Ended 31st Dernber 2023 FUNDSGENERATED FROM PROPERTY 2023 2022 Weekly maintenance contributions 16,148 14,217 INVESTMENT INCOME 2023 2022 Deposit account interest It)vestmenl income 2,558 7,046 564 7,019 7,583 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remur)eration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022. TANGIBLE FIXED ASSETS Freehold property COST At 1st January 2023 and 31st December 2023 705,000 NET BOOK VALUE At 31st December 2023 705,IXM) At 31st December 2022 705.0(X) Page 7 continued.
The Holybourne Complin Trust Notes to the Flnancial Statements- continued for the Year Ended 31st December 2023 CURRENT ASSET INVESTMENTS 2023 2022 Listed investments 331,187 300,957 MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds General fund Reserve Fund 853.¢WI 234,724 17.283 21,931 870,284 256,655 1.087,725 39,214 1,126,939 TOTAL FUNDS 1,087,725 39,214 1.126,939 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund Reserve Fund 25,751 116,7661 8,298 21.930 17.283 21,931 25,752 116.7661 30,228 39,214 TOTAL FUNDS 25.752 116,7661 30,228 39,214 Page 8 continued...
The Holybourne Cornplin Trust Notes to the Flnancial Statements - continued for the Year Ended 31st Dember 2023 MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestrirted funds General fund Reserve Fund 855,645 265,602 12,6441 130,8781 853,001 234,724 1,121.247 133,5221 1,087,725 TOTAL FUNDS 1.121.247 133,5221 1,087,725 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund Reserve Fund 21.801 117,8981 16,5471 130,8771 12,6441 130,8781 21,800 117,8981 137,4241 133.5221 TOTAL FUNDS 21,800 117,8981 137,4241 133,5221 A current year 12 months ond prior year 12 months combined position is as follows.. Net movement in funds At 31.12.23 At 1.1.22 Unrestrirted funds General fund Reserve Fund 855.645 265,602 14.639 18,9471 870,284 256,S55 1.121,247 5,692 1,126,939 TOTAL FUNDS 1.121,247 5,692 1,126,939 Page 9 continued...
The Holybourne Complin Trust Notes to the Financial Statements- continued for the Year Ended 31st Dember 2023 MOVEMENT IN FUNDS- continued A current year 12 mor)ths and prior year 12 month5 combined net movement in funds, included in the above are as follows= Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund Reserve Fund 47,552 134,6641 1,751 18.9471 14.639 18,9471 47.552 134,6641 17,1961 5,692 TOTAL FUNDS 47,552 134,6641 17,1961 5,692 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31st December 2023. Page 10
The Holybouffne Complin Trust Detailed Staternent of Financial Activities for the Year Ended 31st Dember 2023 2023 2022 INCOME AND ENDOWMENTS Funds generated from property Weekly maintenance contribution5 16,148 14,217 Investment income Deposit account interest Investment income 2,558 7.046 564 7,019 9,604 7,583 Total incoming resources 25,752 21,800 EXPENDrruRE Charitable activities Water rates Insurance Repairs and Maintenance Christmas lunch Bank charges Grants lo institutions Grants to individuals- relief in need 877 704 841 407 48 13,250 1,625 821 1,054 508 12 11,700 1,750 16,613 17,752 Support costs Other National Association of Almshouses 153 146 Total resources expended 16,766 17,898 Net income 8,986 3,902 This page does not form part of the statutory financial statements Page 11