REGISTERED CHAIUTY NiJMBER: 236308 REPORT OF THE TRUSTE AND UNAUDITED FINANCIAL STATEMENTS FOR YEAR ENDED 31ST MARCH 2024
INDEX TO THE FINANCIAL 5TATEMENrs FOR ThE YEAR ENDED 31ST MARCH 2024 CONTENTS Page [al and Administrative Inforntion Report of the Tr Independent Examin&s Rert Ststement of Financial Activities 9-14 Note5 to tbe Finati¢ial Sthtements
LEGAL AND ADMIThIST114TIVE INFORMATION FOR THE YEAR ENDED 31sr MARCH 21)24 Hitrhin Utiited ClrItI&$ Charity registration number. 236308 Clwities, addrets: Sbilcock House 99 Bancroft Hitchin SG5 INQ Trustees.. MTS. J. Kirby. Chair MT. D. Wa]msley- Vi¢e£hair Mr. M. BradlY-RlI Mr. B. Smith Mrs. J. Ji Rev. C. Bunce Mrs. J. Marland Mr. D. Ashley North Hertford%bire Di%tricÉ Coullcd noMited trustees: Cllr. T. Tyler (Resigned 31-Mar-24) Cllr. R Thake (R&sigtied 31.Mar-24) Cllr. I. Albert Cljr. C Strong Cljr. K Hoskins (Appointed 01-Apr-24) Cljr. D Winstanley (Appoin4 01-Apr-24) Cllr. V Bryant (Appointed 01-Apr-24) Clerk to the tnte.. Mr. M. W. Se•nian.Hill {PrOd by John Shi1k Ltd) 1ndend¢llt examiner. Philip Dean FCA Hicks and Cornp First Floor, 99 Bancmft Hitchin SG5 INQ Barclays Bank PLC 516 High Street Hitrhin SG5 IBJ Solicitors.. Neil JOIll)n Gisby Harrison Solicitors Geoffs Oak Howe, Geoffs Lane Geoffs OaK Cheshunl EN7 5HG Page I
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 21124 Ibe tntsiees present their anIMl report with the Fillancial SMents of the clwity for the uided 31st March 2024. The trusiees have adopted the provisi of Accountillg and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing thetr FitwKial Ststements in accordance with the FiDaocial Reporti Standard applicable iti the UK and Republic of Ireland IFRS102) (effective 1st January 2019). Objectives and Activiti Objectives Ind ain The objectivcs of the charity are to provide and AlllLshousts ID Hitchill and th"stsict and to provide for the general charitable neeth of local people. Signlfieant aediAtles The charitys objectives are achieved by collecting an oCCatiOnal charge from the residents occupy the A]mshou8es in Hitchin and district that are under the control of the trusiee& together with returns from inv¢5tments that ar¢ also under the control of the tte¢s. A]rnshouses, expended on nece&sary slip[ costs for the fillKtioDillg of the clwity and prOVidll grants approprialY applicd for and approved. Publle Benefit The trustees have paid due regard io the Clwity Commissions Public Benefjt Guidance and complied with section 17(5) of the Chariues Act 2011 in exercising their powers and duties, and have sought to detnoDstrate that the charity continues to provide benefits to suitable persons who Telal¢ dirtttly to its obj¢ctiv¢s. The benefits are publicly available to all who qualify. All applicatio5 are subject to due Proc athd co51dtIon witlM)ut discrimination. Achiev¢meNts PerfDrJnAn¢e Charitable actlvltie5 The trustees have continued io make alIable the AITthusts utrjer their colltsol. The constant demand has reflected the nccd for such chariti&S pmvide a valuable support smxce ts) the local Collty. The AlMs1llseS controlled by the tsitstees continued to be maintsined repaired and refiubished in order that th¢ existing al new residents are properly catered for. Donations and grants are made after due consideration by the trlee5. Financial Rewiew Fillanelal po8RtLoll The financial results for tbe year as shown on pages 7 and 8 reflect the occupational charges colleCd from residents. nvestment income received iti the year. the costs incutred in collecting the incon. mailltaining the properties and support costs and the fmallcial state of affairs of the clwi.ty ai 31rt March 2024. Overall the net movement in fidS for the year was a deficit of £3.813 (2023.. £41.790). The current assets of the ¢trlty as at 31si Mawh 2024 were £355,475 {2023.. £385215). Page 2
REPORT OF THE TRLSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Prin¢ip•l your¢es of inc•me The major sources of income are.. O¢cupationai charges from rcsidents. . tnvestment iThcome from invcst[en . R¢ntsl incorne from car park controlled by the tsustees. There was an Incre in occupational charge5 of £8,059 fro1 £102.041 to £1 10.IIJO and an increase in investsnent returns of £1.879 from £5.614 to £7,493. This rcsultcd ovetall iucrease in income of £6212 (2023: decrease of £5,076). Principal items of expenditure The tn]stee8 cotltinue to oni10r and control costs that are incu after thie Co5deratio[L The tDain item of expenditure incurred continued io be the maintenance. repair and refurbishment of the properties utmler the control of the trustees. There was a de¢rease in repair costs to properties of £2.727 from £77.07110 £74,344 (2023.. increase of £49,4071. All tbe propertics required Continual maitiiellance. Costs for 2024 included ele¢tri¢al and plumbing repairs, and general mailltella1e, as well as wlacinE Sotne of the glazed windows in the Skynners building. There w&8 an increase iti gardening and cleanAng Costs of £1 J68 from £5.726 to £7,049 (2023.. increase of £3221. There was a decrease in water Charges of £1237 from £3,779 tt) £2.542 (2023.. increase of £1,807). There was a decrease in electri¢iry charges of £2.593 frotn £4293 to £1,700 {2023: increase of £3,016) There was an increase in gas charges of £4,918 from £15,953 to £20.871 (2023.. increase of £8,489). There were no grants made in the y¢ar ¢nded 31st March 2024 (2023.. £nil). This resulted in ao incr¢ase in totsl expenditure of £327 (2023: £68,786). Ovetall iti the year there was net expendillur before gains and Ios8es of £26,710 (2023.. £32,595). L055 revalllation of properties Properties hav¢ been included at thcir 31st March 2001 values &8 an approxiti)ation of their cost or market value en first b¢que4th¢d to the cbarity. see no 8. IDveytment Consideration is givell to the requireme incur Costs as required and provide chaTitable resowces requested. Therefore havitlg COD5iderEd the optioL8 available the tsustees have decided to retain ¢x¢ess fvnd5 in T¢¢ognised ¢harity investment fillhds thai are flY easily accessible. Rerves poiley The policies adopied by the trusttts are such that invested monies are car¢fiY mawed vjith a low risK to ensure sufficient fjJnds from the investsnents and contributions from residents are available to meet the main objectives of the chan"ty. A policy of regular meetings means that all of administering the clrity are fillly reviewed and tnonitored. The resources are monitored between the Vdriow designated fun(ts. The trStee5 consider tbe presellt level of occupational Charges from residen the Car park rentsl aod investtnent income together witb re5erYe% is lufficient to ensure the present charitable activities be DJaintained for a twelve Itnth period. Thc pre5ellt level of llecessary resources is in the region of £150,000 bui this is ¢onsi3tendy kept uTMlcr Teview. Risk management The tnLStees continue to assess and monitor the major rixks to Ivhich tl* charity is ex)Sed in parncular in relation to Page 3
REPORT OF THE TRUSTEES FOR THE YEAR Ef4DED 31ST MARCH 2024 Structure, Governance and M•D•gement Governing document Hitchin Unitcd Cbarities is governed by a schem¢ dated 5th April 1963 a1 regi8teTed with the Charity Commissioners on 26th October 1964 (Gharity number 236308). The occupational address of the clwity is Sbilcock How 99 Bancrof4 Hitchi4 Hert4 SG5 INQ. OrganisatioD•I 5tructhre The ¢harity h&s a Board of TnteeS made up of seven ¢wted trustres and seven ty)Mited trte, currendy Prest( Parish Council have not nominated a trustee. The nominated trustees are appointed &8 follows: 5 byNortlL Hertfordshire District Council I by Hertfoidslllre Coullty Council I by Prtston Parish Councd The ¢o-OPted trustees shall be persons residing or carrying on busitiess iti or near the North Hertfordshire District Council boundaries. co.opted trustecs are appointed for a terni of five year5. Nominated tnLStees are appointed for a lerni of four years. Any competent trustee may be re apEKTrintcd at the end of their tenn in offi¢e. Ai present there are thirteen tsustees that meet three times per aDnum al are respotsible for the objectives aThd activities ol the charity. The ¢ntstees are from a variety of backwwi¢ls wresentitig the COMullIty, all of who contribute to the working of the Charity. The tnLStees are swrted by a clerk pro by John Shilcwk Lt& professional property advisers. who r¢5ponsible for.. . The collection of the occupatio[1 ¢barges from residents WKI moniloring and rewjrling on the nuintenance and repair required in respect of the properties controlled by the cTrwity. . Ensurillg th&1 all directives of the aTe appropriately itDplemcnted. Reerultment and Appointment of trllstees The trusiees seek to esure thai the necessary skills and experience 5UStaincd recnjiting new Inttes. New trustees are appointed through the various bodies listed. When vanCle$ the existiDg tntstees are in a N)sition to make recommethtions to the nominative I)1¢$ ¢)n the appoinlment of ttr¢S. Trustees Inductltsn and tralthg All trusttts are familiar with the work of the charity aDd are encournged to be involved in th¢ activities on a regular basis. New trustees reeeive briefillgs of the charitics achievelllellts. its rutse platks and their responsibilities. AU existing trystees and proposed Mtstees are issued with a Copy of the Chatity COM1%10crS Guida[¢"The Essclltiat TrStee", copy of the scheme and copies of the last Financial Slements enlwKe their uthderstalldg of their statutory responsibiliti¢s. Plans for Future Periods The prowties are of an age and specifitiOn that Tepoirs and maintenance are coLstsndy required comply with r¢sidents theeds and relevant legislation. Res¢rve5 are required for.. . Unexpectcd repair5 aDd njaintenance that could be tKcc&wy at any time. . Changes iti internal refijtbtsbtnents as ne¢e&4ry. within re4SOtL to accomttuthte specific or specialist of residents. Page 4
HITCHIN UNITED CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The trustees have no splfi¢ plans other thaD to cothfinue the mawemeDt of the properties to ensure they are maintained to a satisfactory standard for ¢xi5ting and new tenants and to admIter clwitable resources appropriate. Trustees Mrs. J. Kirby. Chair Mr. D. Wa]llLsley- Viceihair Mr. M. Bradly.Russell Mr. B. Smith Mrs. J. Joe Rev. C. Buttce Mrs. J. Marlalld Hertfordshtre Counry Council nomitiated tswiees: Mr. D. Ashley North Henfordshire District Council nominated In¢s. Cllr. T. Tyler {Resigned 31-Mar-24) Cllr. R Thake (Resi 31-Mar-24) Cltr. i. bert Cllr. C Strong Cl]r. K Hoskins (Appointed 01-Apr-24) Cl]r. D Winstsnley (Appointed 01-Apr-24) Cl]r. V Brydnt (Appointed 01-Apr-24) Staternent of Trustees Responsibilitles The tN5tees are responsible for preparing the Rewrt of the TnJs*es and the FInla1 Statements in accordance with applicable law and United KiDgdoJn Accowitmg Stsndards (Utiitrd Kmgdotll Generally Acteptrd Accountitig Practice). The law applicable to clwiiics in Etlgland atld Wales. the Clwities Aci 2011. Charity (Accounts and Repotts) Regulations 2008 requires the trustees to prepare FinancÉal Ststements for each financ1 year which give a true and fair view of the stste of affairs of the clwi.ty and of the incoming raqourctt atyj applic10$ are resources. iticludmg the Ancome and expeThditute, of the chan.ty for thai period. In preparing these Financial statemen the thttts are required to: - select suitsble accounting policies and then apply them ¢oThS1cY. - observe the methods and PTinciples in the Charity SORP. - make judgements and estin)ates that ar¢ reasonabl¢ and prudent" - prepare the Financial Sthtements ¢)n the goiog wn¢ern b&5is unless it is iDappTopriate to presuTDe that the ¢harity will continue in business. The twstees are r¢spotLSible for ke¢piDg Proper accounting recor(Ls which disclose with re&sonable accutacy at ally time the f]nancial position of the charity and to enable thetn to eLsure that the FiDaucial Statelljents comply with tbe Clwities Act 2011. th¢ Charity (Accounts and Retrf)rts) Rcguiations 21M)8. They are a150 respollsible for Safeguarding tbe a55ets of the ¢harity and hence for taking reasonable steps for thc prevethtion aDd detection of fraud alld other irregularities. The report was approvcd by order of the Boatd of Tntsttts ott 9th Decemkn 2024 and signed OD its bebalf by. Mrs. J. Kirby Trnstee Page 5
INDEPEL¥DENf EXAMINER'S REPORT TO THE TRUSTEES OF HITCHIN uNfrED CHAR[Es FOR THE YEAR EI¥DED 31ST MARCH 21124 Independent eAaminer'5 report to the truJt¢es of Hitrbin United Chrilies I report to tbe Chan'5 Irustees on my exanjination of the Financial Ststenmts of Hitchin United Clwities (the Clwiry) for the year ended 3 1st March 2024, aT¢ set out OTh pag&5 7 14. Responsibilities and basis of report As the chariW5 truSeS you arc re5POELsible for the prepatation of thc Fithancial Statcmcnts in accordance witb the requirements of the Cljarities Act 2011 Cthe 2011 ACV). Having satisfied myself that the FIttal Statements of tbe charity aye not rn4ured to be audited aud arc eligible for independent examination. I rewrt ill respect of my exatninaiion of your chariws Fian¢1 Staterncllts a5 carried out un(kr section 145 of the 2011 Act. In carrying out my examinauon I bave followed the apph"cable diEectioL8 given by the Charity Commission under section 145151(b) of the 2011 ACL IDdependeDt exAmiDer's statement I have cotnpleted my eXaD]itio I confirm that no material have com¢ lo my att¢n¢ion in cOnnOn with the examination gi3ryng me cause to believe that in any material respect.. accountiug record5 wete Dot kept respect of the Charity rwuired by stttion 130 of the Act" or 2. the Financlal Statements did not accord with the accounting re¢oTds' 01 3. the Financial Statetnents do not cOpIY with the applicable requirements concerning thc forni and content of fmancial statements set out in the Cljariues {A¢counts and Reponsl RegulatioL$ 2008 other than any requitement that the Financial Ststements give a.e and fair view. which is noi a matter considered as part of an independent examinatiotL 4. the Financial Statemeats have not been prepared in a¢cordan¢e with the methods and Principles of the Sthtement of Recommended Practice for accounting and reporting by chariiies {applicable to charities preparing their accounts in aw)rdance witb the FiDanciai RqM)rting Standard applicable in the UK and Republ1¢ of Ir¢]aod IFRS 1021). I have no concer8 and have COllLe across no other matter5 in conDectioD with the examination to whi¢h attention should be drawn in this report ordcr to enable a proper uDder5tanding of the Financial Statements to be reached. Philip t)e Hicks and Chonered Accountants First Floor, 99 Ballcrofi HitchiD SG5 INQ FC Date: 9th December 2024 Page 6
ITCHIN UNITED CHARITIES STATEMENT OF FINANCIAL ACTIVITIFS orati an Inrome and E FOR TIIE YEAR ENDED 31ST MARCH 2024 endithre Account Note Ullre5trieted Restrieted Funds Fwhds 2024 2023 tncorne Ineomt frnm tharltable aetlvfides: OccupatiODal charges frollh re5idellts Investment ineome: DivideDd income BaDk illterest Other Rental income Other Income: Insurance claim IID.100 110,IoD 102.041 6J16 967 626 967 5,439 175 10250 111.250 10,250 3,726 Total ineome 127J43 127,843 121,631 Expenditure Cost of raising funds: Cost of ¢olle¢ting occupational ¢harges Investraent management costs 7,003 149 7,003 2,149 6,814 2,246 Expenditure charitable activities: Chgritabl¢ acliviti¢S 145,401 145,41111 145,166 Total teDdI¢llre 154553 154,553 154.226 Net txpenditure befort gaitis and losses (2ffj7111) (26,710) (32,595) Other reeoglllsed galns and losses Ga]l(lOsSI on revaluations of properties Gaitil(lossl on rev&111{ of investsnents Realised gain on sale of itivestsnents 22.897 2197 (9,195) et movetneDt in funds {3J13) (3113) (41,790) ReconciiiatioD of funds Total fuDd$ brougbt forward 268,730 2,86&730 2.910,526 Total funds earrled forward 12113 264,923 2,864,923 2.868,736 The notes on pages 9 to 14 form part of Financial Statements. All of the above results are derived from ¢ontinuing a¢tivities. There are other rec0gllis gaiDs or losses other than thos¢ ststed above. P4¢7
BALANCE SIIEET FOR THE YEAR EF4DED 31ST MARCH 2024 Unrestricted Restricted Funds Funds Note 2024 2023 Flxed assets Properties Investlllellts Total red a55ets 2303,750 331,9211 25357 2303,750 331,920 235,670 2.203.750 309,024 2.512.774 CurreDt assets Debiors Cash at bank Total current assets io 11,460 344.015 355,475 11,460 344.015 355,475 19,065 366.150 385,215 Current iiabi]itie5 Creditors.. Arnounts falliD8 due withiu one yrar li 26322 26322 29,253 Net turrellt assets 329353 329J53 355,962 Net assets 2064,923 2J64,923 2,868,736 The funds of tbe cbarity: Unrestri¢ted fillS 12113 2064,923 1,864,92J 2,868,736 The notes on pages 9 to 14 forni part of these Financial Sthtements. The Financial Stateents were approved by the Board of Trust on 9th Decembu 2024 w¢re signed ¢)n its behalf by.. Mrs. J. TTUStee Mr. D. Walmsley Tnltt Page 8
NOTES TO THE FINANCIAL STATEMENTS OR THE YEAR ENDED 31ST MARCH 2024 l. Ob'ective To provide Almsbousas in Hitcbin and District atul to provide for thc general charitable needs of local people. 2. Stath$ and Basis of Accoun StatUS The charity being a registered clwity is not liable for taxation on any of its ithvestment incorne. nor any other 8aiD5 d]ved from carrying out its charitsble aclivities. Basiy of 8c¢ountiug The Financial StatemeThts of the cbarity. which is a public It entity under FRS102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities.. Statetuent of ReColl]eTrded Practice applicable to ¢haritie5 preparing their accounts in accordance Witb the Firwicial Rq)0rtll Staudard applicablc in the UK and Republic of Ireland (FRS 102) {effective 1st January 2019)., Fi[hanci Reportmg Stalldard 102 'The Financial Reporting Standard applicable in tbe UK and Republic of Ireland. the chariti Act 2011. The Fillancial Statements have been prepared und¢r th¢ histori¢al cost wnvention tn(Mlified to include properties aud invtttsllellts at valuation. 3. AeeouDtiD Poli¢ie5 Ineome - Occupational charges represents contributions from residents or social services on behalf of residents of the properties under the control of the tsusiees alld are included on an entidement basis. - Incorne from investmcDts is included in the yfdr whetl it is rtceivable. - Lnvestment gaius or los8 are rewised a result of disposing of illvesttuents and the revaluing of investments. ExpeDditure - All expenditure is in¢lud¢d on an b¥is and is recogDised 7•Are tIKre is a legal or constructive obligation to pay for expetws. All costs have been directly attributed to One of tbc functional categories of resources expended. - Costs of raising fidS comprise the costs of ¢oll¢cting occupational charges and investtnent maDagement costs. - Charitsble activities expenditure comprise those Costs incurred in the delivery of the charities actsvities and services for its beneficiaries together with support costs associed with meeting the constiwtional and stOry requir¢llJ¢nts. Tallglble Ilxed assets aDd depreeiation Propertie5 have been included ai tbeir 31st March 2001 values as an approxintiOll of their cosl or maTket value when rst bequeathed to the chatity, see note 8. No depreciation is clged a5 the trustees beh.eve that the residual value of the free1Id property is ill excess of the ca]ng value in the Fithallcial state[[ts. Fixed asset investments Investments quoted OD a recognwd stockeXcle are included at tnarket valuttq at the balallce sheet date. Flld a¢¢ounling All fijnds held by the ¢lJarity are ¢OJL8idered unrestricted desigllated funds and aTe available to be used in accordan¢¢ vrith the chan"table objectives of each fijnd at the discretion of the trustees. Page 9
OTES TO THE FINAf4CL4L STATEMENTS FOR THK YEAR Ef4DED 31ST MARCH 21124 4. Ineozne 2024 2023 Income from charitsble Activities: Occupational ¢geS from residents Investment income: Dividend income Bank interest Other interest Rental income Otber income: Insurance claim Total inetsme 110,100 102.041 526 967 5.439 175 10,250 10,250 J.726 121631 127,843 S. Anal sls of ex eDd5thre 2024 2023 Cost of ralsing funds: Cosi of collec¢ing occupational charges 7,IM3 6.814 Investrnent rnanjgement ¢Q5ts: Clervs salary and expenses Investment transaction costs 1.858 291 2.149 1.842 404 2,246 Expenditure OD chAritable *etivities: Managing agents fees Gardening and cleaning General Tat¢s Water rates Electricity 7,003 7,094 1,649 242 1.700 20J71 10,463 74J44 431 068 4,410 169 936 6,814 5,726 3.779 4.293 15.953 10,037 77,071 564 6,829 6,449 Insurance Repairs to propcrties Alarni control Clerk's salary and expenses Legal and professiot]al fees Advertising Sundry expense Grallt5 tndependent examiners fee TnJs(ees' insur 839 0,426 495 145,401 6,300 448 145,166 Total expendltllre 154.553 154.226 The charity paid £14,006 (2023: £13.628) to John s.]¢o¢k a company iti l¢b Mr. M.W. SeaTnan-HRII is a director, in respect of costs of Collecting occupational charges and rllanaging agents feas. The charity paid £8,726 {2023.. £8,671) lo John sh11ck Ltd a company in 1¢ Mr. M.W. Seanwi-Hill is a direcr. in respect of clerks salary al cxpen5eS. The clwity paid £4.410 {2023.. &]il} to John Shilcock IAd a company in which Mr FA. W. Sc-HI11 is 3 director. in respect of professional fees. Page 10
NOTES TO TRE FINANCIAL STATEMEP4TS FOR THE YEAR EI4DED 31ST MARCH 2024 6. Co aritives for the Statement r FinaDeial ACtitieS UDrtstricied Funds Restricted 2023 lllcome Income from tharRtsble aedvltles: Occupational charges from residents tnvestmellt iDeome: Dividend illcome Bank interest Other interest Rental income Other Ineome: 1ts8urdL¢e Claim 102.041 102,041 5.439 175 5.439 175 10.250 10,250 3.726 3.726 Total income 121.631 121,631 Expenditure Cost of raising funds: Cost of collecting occupatioDal cbarges Investmeni nwwgellwnt Costs 6,814 2246 6,814 2.246 Expenditure charitable attiwfitle8: Charitable activitiG 145.166 145.166 Total eipeDditure 154.226 154,226 Net expelldltsre before losses (32,595) (32,595) Otber reeogllised gaths aDd losses Ga1(lOsSI otl revaluati0tt8 of propenias Loss revaluation of investsnellts 19.195) 19.195) Net movement In fuuds (41,790) (41,790) RecoDciiiation of funds Total fuDds brought forsv•rd 2,910.526 2,910.526 Tfjtsl futtds carrled forward 2.868.736 2,868,736 7. Trustees, remuDeTation aThd benefits There were no trustees, remulleration or other benefits for the ended 31st March 2024 for the year ended 3lst March 2023. Pagell
TES TO THE FINANCLIL STATEMENTS FOR THE YEAR ENDED 31ST MARCU 2024 8. Tall ble Flxed Assets Tht Biggin Hitcbin Skyntters Warner's AInbOu$e$ Aknishouse8 Hitehin Hitchln (ii) Pollards Cottage Ptrtoll Properties Totsl Historic valllation: At 1st Apnl 2023 and 31st March 2024 1,025,000 6662511 410,000 1(125110 2303,750 (i), {iil and {lll) are ELSted buildings and in the opini¢)n of the trustee4 it is Virtilly inw$5ibly to estimate a market value because frorn a plaDlling point of view, they could not be for anything other than AillLshou8es and being hsted, are unsuitable for redevelopttTht. In additio there is no likelikntyj of the properties being sold in tbe foreseeable future. In previous years. the trnstees have revalued the properti&s to the Vah used for pUrse5. The original cost or llrket value when the properties were fjrst bequeathed to tbe chaTity is not kuovrn. Given tbe re5trictioD5 Outlined above. the tnLStees no longer believe li is appropriatr to use the its8ure value as the catryillg value iti the Financial StaterneThts. A value was rust placed on the four properties in the ¢han"tys Financ1 Statemenrs on 3 1st Marth 2001. Ac¢ord]ngly. the trustees have reduced the carrying value of the four properties to the 3 1st Marcb 2001 values as an approXintion of their cost or market value when f1 bequeAtbed to the charity. 9. Fixed A55et Investllnts Quoted [nVestnllts COIF Ch•rity Fund Bartiays Illvestmtnt InvestmeDts Managejnent M&G Total 2024 Total 2023 Market values at 1st April Additions Equali5ation Gainl(loss) on revaluation of inv&5tments Market valu&% at 31st March 86,879 59.059 163,086 309,024 318,218 7,980 94,859 1,051 60,110 13,865 176,951 22,896 331,920 9.194 309,024 Historic cost at 1st April Equalisation payrnent Historic cost at 3 1st March 49,703 40.003 104,341 194,047 194.047 49,703 104J41 194,047 194,047 10. Debtor5 2024 2023 Rent in arrears after provisioLs Refilnd due frorn Eoll PrePaThents IA2(1 2.036 9.533 7,496 19,065 10.04 11.46(1 Page 12
NOTES TO THE FINANCLIL STATEMEN FOR THE YEAR ENDED 31ST MARCH 2024 11. Creditilfs: Amounts Fa Dut Within Olle Year 2024 2023 Creditors Rellt in advance Clerws salary and expens Other CTeth'tors- key d¢posits Accruals 809 3535 8.727 100 13.051 26,222 346 7,177 8,311 100 13,319 29,253 12. Funds lJnshou5esTrollards Cottage To manage the propertics by adTniDtsteTitig ¢OtttributioLs from residents to ensure the properties are fully insu maintsined and looked aftcr. PensioD Charltles To provide alrD5 to persons fit1ll the requiretiL Eletmosytsary To provide ecclesiastical fimds. fijnds. allowances. gifts. gTants and assists for th¢ benefit of the poor in th¢ d¢sigDated arca. al if appropriate iti augmenting the income of the Ajmshow. Apprentieesblps To provide grants and donat10 to suitsble IcKal people undergoing appTopriat¢ appw¢ntic¢sFJ'p sthtn¢s. Balances 31st March 2024 1st ApTiI 2023 Invest[ent revaluation 1Ming Outgoing properties Unrestricted Funds.. Allltshouses Account Pension Chariti&8 El¢¢mos)rywy Account Apprenti¢¢ships Pollards Cottage, PirLon 2.544,072 15,092 79,439 144,898 85235 2.868.736 119.103 227 1.078 (150.595) 14.962 93 446 7,234 162 22,897 2.527,542 15.412 80.963 154.576 86.430 2,864,923 4,991 127.843 (3,958} 154.553 Balances 3 1st March 2023 1st April 2022 tnVestttÉ revaluation Incoming thtgoÈng pmperties Un$til¢ted Funds.. AlShoUseS Accouni Pensioll Chan"ties Eleernosynary Accoulll Apprenticcships Pollarth Cottage, PirtoD 2,553.872 15,037 79.180 145.645 116.792 2,910,526 109.637 204 968 2.320 8.502 121,631 (114.236) (5.201) (149) (709) (3.067) (691 {9.195} 2,544,072 15.092 79,439 144,898 85,235 2.868,736 39,990) (154,226) Page 13
TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 13. s of Assets Liabilitie5 to Funds Net assets 3 1st March 2024 Fixed &*gcts: Properttes Invcsttnents Bank Current "abilities assets Unrestricted Futhls.. Aknshouses Account Pension Charities Eleemos kncount Apprenticeships Pollards Cottage, Pirton 2.101250 213,584 5291 25,134 85,991 1,920 331.920 226.506 10.121 55.829 68.585 {17.026) 344,015 10,986 (24,784) 2,527,542 15,412 80,963 154,570 86,430 2 864.923 102,5(M) 2.203.750 474 11,460 (1.438) {26,222) Net assets 31st March 2023 Fixed a&sets: ProFtnies Investsnents Bauk Curreni Current liabilities Ut]restricted Funds.. Almshouses Account Pension Charities Eleemosynary Account Appreniiceships Pollards Coitage. Pirton 2,101,250 198.623 5.198 24,688 78,757 1.758 309.024 253262 9.894 54.751 66.141 (17,898) 366,150 18,703 (27.766) 2,544,072 15,092 79.439 144.898 85.235 2,868,736 102.500 2,203.750 362 19.065 1.487 129.2531 Page 14