Ufton Nervet Fuel Allotment Charity Report and Unaudited Financial Statements Year ended 31 December 2022 Charity Registration No. 236715 Ufton Nerve Fuel Allotment Chari SLItus: Charity registration no.: 236715 The charity is governed by a Charity Co¥nmission scheme dated 1975 and subsequent changes in 1994 and 1999. Registered Office: The Old Stores Post Office Lane Burghfield Reading RG30 3TL Trustees: Mr K Chopping - Chaimian Mr N Bagshaw Mr D Hannington Revd Canon John Paton Mrs M Baxter Mr I Wise Independent examiner. Shruti Soni FCCA FCIE Shruti Soni Ltd Chartered Certified Accountants 117A St Johns Hill Sevenoaks TN13 3PE rvet Fuel Allotment hari Trustees. Report for the year ended 31 December 2022 The Trustees have pleasure in presenting their Annual Report and Financial Statements for the year ended 31 Decembef 2022. STRUCTURE, COVERPIANCE AND MANAGEME Ufton Nervet Fuel Allotment Charity is a chariry. registered in En9land and governed by a Charity Commission scheme dated 1975 with subsequent changes in 1994 and 1999, and is a registered charity No.- 236715. In accordance with the governing documenr, there shall be not less than three Trustees at any time. Trustees are appointed by the Appointing Trustee. having regard to the skills. knowledge and experience needed for the effective administration of the Chariry. The list of current trustees and trustees who seNed during any pan of the year can be fovnd on page l. The Hon TreasurerlSecretary manage5 the day-to-day operation of the charity ¥nder the direction of the Trustees, and has delegated auihoriry for payrnents limited by a bank manda(e. STATEMENT ON PUBUC BENEFrr The objectives and activities. and achievement and performance sections of thi5 report flearly set out the activities which the charity undertakes for the public benefit. The Trustees confirm tliafr they have complied with the dury in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission in deiemiining the activities undertaken by the chariry. 08JECnVES AND AcrivmES The Charity's primary object is the relief of hardship and dFStress among residents in the parishes of Ufton NeThet and Sulhamstead. In accordance with rhe decision of the Charity Commissioners. any sums thereafter can be used for any charitable purpose within the parishes. The income of the charity arises from investments in COIF and M&G Charifund. ACHIEVEMEPtrs AND PERFORMANCE The charity land has been used for the purpose of waste disposal and some recycling. This operation has been completed. and the landfill has been restored in accordance with the conditions of the planning authority. Work was completed in Ottober 2003 and the replanting of the trees was also completed. Monitoring of the progress of the trees has continued under the care of the Warden. Grant payments These are divided into Grants to Organisaiions and Grants to Individuals. The indtviduals are assessed io have particular needs. and those whose circumstances are such as ro warrant recurrent help receive help with fuel and water expenses. 13 families received fuel and water Ufton NeNet Fuel Allotment Chari Trustees. Report for the year ended 31 December 2022 grants during the year. Grants are only made to. or for the benefit of. residents of Sulhamstead and Ufton Nervet. even if the benefit is provided for them outside the area. The chariry has sufFicient funds to meet all anticipated demands on it. Grants made during the year were.. Recurrent fuel and water needs for individuals £12,350 (2021= £9.5001' William Bishop Chariry [1.600 1202 1.. £1 .6001- Together in Mission £3,000 12021 .' £2.2851- St Peters Ufton £384 12021-. £1.2 54).. SUN School NIL12021- £5.0001. Altogether grants made during the year totalled £24.834 (2021 .. £19,639) FINANCIAL REVIEW During the year the Charity had income totalling £48,571 12021 '. £44.6481. Total expenditure during ihe year amounted to £29,214 {2021- £26,906). Due to net loss on the value of investments at year end of £126,657 (2021. net gain in Value of £162.7681 the net expenditure for the year amounted to £107.300 12027.. net income £180.510). With the significant reduction of revenue yield from working the land. the chariws income is restrirted to earnings from dividends and deposit account interest from permanently endowed in¥estrnent5 in COIF Charity Units and M&G Charifund Uniis. The respective investment values as at December 31 st 2022 are as Stated in note 8 in the notes to accounts. Investment Pollcy The Trustees have chosen their investment vehicles on the basis of their specialization in Chariry Funds and their hisiory of prudenr financial rnanagement. Reserves policy Total general reserves of the charity as at 31 December 2022 are £117,424 12021-. £100.163). Whereas, free reseThes, which are general resetves excluding fixed assets and investments, are £81 ,897 12021.- f 62,540 1 which ihe Trustees consider to be adequate for the Trust's on-going activities as there are no committed regular liabilities. The Trustees will review the reSe￿e policy on an annual basis. The free Teserves of the charity are held in units in appropriate Charity fund management companies and cash balances are held on deposit. l Allotment Chari Trustees. Report for the year ended 31 December 2022 It is the poliry of the Trustees to SUPPOrt projects that may require substantial sums when they come to fruition. The purchase of and refitting of St Peters Church in Ufton Nervet as a Cultural Community Centre. to which the Charity has made grants in previou5 years. Colltinues. No projea is undertaken urrle55 the Trustees. having taken a prudent view. are confident that sufficient funds are available. RISK MANAGEMEKr The Trustees have reviewed the major and financial risks thai impact on the work of ihe charity. They 5yStems that have been established enable the Trustee5 to review and take necessary Steps to lessen these risks. Statement of Trustees. Responsibilities The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra(tice). In preparing these financial statements. the trustees are required to- a) selett Suitable accounting policies and apply them conslsteft￿. b) observe the methods and principles in the Charities SORP.. cl make judgments and accounring estirnate5 that are reasonable and prudent; d) state whether applicable UK accounting standards have been followed. subjert to any material departures disclosed and explained in the financial statements- e) prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Trust will continue in operation. The Trustees are responslble for keeping proper accounting re(ords that are sufffcient to Show and explain the Trust's transactions and disclose with reasonable accuracy at any time the fsnancial position of the Trust and enable them to ensure thar the financial statements comply with rhe Charities Art 2011. the Charity (Accounts and Reports) Regularions 2008 and the provisions of the irust deed. They are also responsible for safeguarding Ihe assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregulariries. This report was approved by the Trustees o on their behalf by.. and signed Signed Narne rusiee) Independent Examinerfs Report to the Trustees of Ufton Nervet Fuel Allotment Charity I report on the flnancial statements of the Trust for the year ended 31 December 2022 as set out on pages 7 to 16. Responslblllties and basis of report As the charity'5 tru5tee5 you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 2011 I'the Act.). I report In respect of my examination of the charity's account5 carried out under sertion 145 of the Act and in carrying out my examination I have followed all the applicable Dirertions given by the Charity Commlssion under section 14515Mbl of the Act. The trustees confirm an audit is not required under section 14412) of the Aa and an independent examination 15 needed. Independent examinerfs statement I have completed rny examination. I confirm that no material matters have come to my attention in connertion wlth the examinatlon giving me cause to believe rhat in any material respect= Accounting records were not kept in respert of the charity as required by sertion 130 of the Act; or The accounts do not accord with those records-. or The account5 do not comply with the applicable requirements concerning the form and content of accounts set out 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 concern5 and have come across no other matters in connettion with the examination to which attention should be drawn in this report In order to enable a proper understandlng of the accounts to be reached. Shruti Soni FCCA FCIE Shruti Soni Ltd • Chartered Certified Accountants 117A St John5 Hill. Sevenoaks TN13 3PE Date 27 October 2023 Stattmefft of financ￿1 xJ¥*tl For the ar ended 37 De(ember 2022 2022 2021 Permanent Totsl unrestricted Endo¥vmen Total Income from: Other irading actt¥iiies- Laf Rent ILJ) ioo Investments 48.471 48.471 44.548 44.548 Total income 4&571 48.571 44.648 44.648 ExpenditkEre on: Charitsble activities Grant Maktng 29.214 29.214 26,906 26.906 Total expenditur* 29.214 29.214 26,906 26.906 Net (expenditurellincome before net 9WE15 1 Ilosses) on In¥e5tments 19.357 19.357 7.742 17,742 Net 11055esllgains on investments (124.561) 1126.65TI 4.439 158.329 162.768 Net (exp•Thiiwrelllncome for the year 17.261 (124.5611 (107.300) 22.181 158.329 180,510 Net mLY*trnent in funds 17.261 1124.561} (107.300) 22.181 158.329 180,510 Reconuliavon of furMIs.' Total funds brought fo￿a￿d ICKI,163 1.336.126 1.436.289 77,982 1,177,797 1,255.779 117.424 1.211.565 1.328,989 100,163 1.336.126 1.436,289 l of the knve ￿5vIl$ are derived from coniinuing xiivitrts. There th￿rE rbD other rt(ogrdsed gains orlosses other ihan those Stated above. m￿rtmentS ifb funds afe di5cID5ed IA Note 12 10 ihe statemen¥s. Ufton NeNet Fuel Allobmnt Charlty Balance shtet em 2022 2021 Note Flxed a$5ets: Tangible assets Investments 40,000 1,207.092 40.000 1,333,749 1.247.092 .373.749 Current assets: Stock Debtors Investments Cash at bank and In hand 18 103.7fj9 63.350 103.869 63.350 Uabllltles: Creditors.. amounts falling due within one year 10 21,9n 810 Net current assets 81.897 62,540 Total assets le55 current Ilablllues 1.328.989 1.436,289 Toral net ￿se1$ 1.328.989 1,436.289 The funds of the chirliy. Permanent Endowment income fvnds Unrestricted income funds.. General funds 1.211.565 1,336.126 117.424 100.163 Total unrestricted funds 117,424 11)0,163 Total charlty funds 1.328.989 1.436.289 The financial statement5 were approvtd and aUtI￿riSed for issue by the Board on ........... ........ Signed on behalf of the board of trustees .2023. qnature EIT Name Trustee **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **1 Accounting policies** ## **a) Basis of preparation** The financial statements have been prepared in accordance with 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) (effective 1 January 2019) - (Charities SORP FRS 102 1A), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and UK GAAP. The charity is registered with Charity Commission. The registered office address is given in the charity information page. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. ## **b) Public benefit entity** The Charity meets the definition of a public benefit entity under FRS 102. ## **c) Going concern** The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There were no key judgements that the Charity has made which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. ## **d) Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably. ## **e) Interest and dividend receivable** Interest on funds held on deposit and fixed asset investments is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividend is included in the accounts when receipt is probable and the amount receivable can be measured reliably. 9 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **1 Accounting policies (continued)** ## **f) Fund accounting** Permanent Endowment funds consist of net book value of land and fair value of investments to be held as capital. The trustees have no power to convert these funds into income. However, there is no restriction on use of any income arising from capital or assets held as permanent endowment. Unrestricted funds are donations and investment income received or generated for the charitable purposes. ## **g) Expenditure and irrecoverable VAT** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Expenditure on charitable activities includes the costs of Grant Making undertaken to further the purposes of the charity and their associated support costs. Grants payable are recognised in the SOFA when they are approved by the Trustees and recipient has been informed. - Support costs include the cost of overall direction and administration of the charity's activities, ## **h) Allocation of support costs** Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration currently is apportioned to Grant Making activty in full. ## **i) Tangible fixed assets** Land is valued at residual value after it has been fully utilised for landfill. Depreciation has not been provided for on this land because this valuation represents the minimum value of the land if sold. ## **Listed investments** Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments. ## **j) Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users. ## **k) Creditors** Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 10 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **2 Income from investments** |**Income from investments**||||| |---|---|---|---|---| |Interest and dividend receivable:
COIF and M&G|**Unrestricted**
**£**
**48,471**
**48,471**|**£**
**-**
**-**
**Permanent**
**Endowment**|**2022**
**Total**
**£**
**48,471**|2021
Total
£
44,548
44,548| ||||**48,471**|| ## **3 Analysis of expenditure** |Grants to organisations (note 4)
Grants to individuals (note 4)
Repairs & Maintenance
Treasurer
Legal Fee
Secretary/Warden
Sundry expenses
Insurance
Independent Examiner
Support costs
**Total expenditure 2022**
Total expenditure 2021|**Charitable**
**activity**|**Support**
**costs**
**£**
**-**
**-**
**-**
**2,000**
**-**
**1,000**
**16**
**410**
**954**
**4380**
**(4,380)**
**-**
**-**|**2022 Total**
**£**
**12484**
**12350**
**-**
**2,000**
**-**
**1,000**
**16**
**410**
**954**| |---|---|---|---| ||**Grant**
**making**
**£**
**12,484**
**12,350**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**24834**
**4380**
**29214**
26,906||| ||||**29214**
-| ||||**29214**| ||||26906| 11 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **3 Analysis of expenditure (Continued)** |Grants to organisations (note 4)
Grants to individuals (note 4)
Repairs & Maintenance
Treasurer
Legal Fee
Secretary/Warden
Sundry expenses
Insurance
Independent Examiner
Support costs
Total expenditure 2021|Charitable
activity
Grant making
£
10,139
9,500
-
-
-
-
-
-
-
19,639
7,267
26,906|Support costs
£
-
-
498
2,000
2,447
1,000
102
410
810
7,267
(7,267)
-|2021 Total
£
10,139
9,500
498
2,000
2,447
1,000
102
410
810| |---|---|---|---| ||||26,906
-| ||||26,906| All expenditure in current and previous year was unrestricted. Expenditure on grant making charitable activity relate to monies expended on the Charity’s objects which are concerned with the relief of hardship or distress by making grants of money to persons resident in the Parishes of Ufton Nervet and Sulhamstead. The Charity also makes grants of money to organisations within the above Parishes for any charitable purpose the Trustees see fit. 12 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **4 Grant making** |**Cost**
Relief of hardship or distress13 individuals (2021:14 individuals)
St Peters Church Ufton Nervet
SUN PCC
Sun School
Sulhamstead Village Hall
Together in Mission
William Bishop Charity
At the end of the year|**Grants to**
**institutions**
**£**
**-**
**384**
**500**
**-**
**7,000**
**3,000**
**1,600**|**Grants to**
**individuals**
**£**
**12,350**
**-**
**-**

**-**
**-**
**-**
**-**|**2022**
**£**
**12,350**

**384**

**500**

**-**

**7,000**

**3,000**

**1,600**|2021
£
9,500
1,254
-
5,000
-
2,285
1,600| |---|---|---|---|---| ||**12,484**|**12,350**|**24,834**|19,639| St Peters Church Ufton Nervet: To maintain the graveyard SUN PCC: To fund Choir Sun School - To contribute towards cost of library alteration Sulhamstead Village Hall: To contribute towards the cost of refurbishment Together in Mission: To provide a local befriending service William Bishop Charity: To provide educational assistance for students under 25 ## **5 Related party transactions** There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. Key management personnel are the Trustees of the charity. The Hon Treasurer/Secretary manages the day-to-day operation of the charity under the direction of the Trustees. Mr D. Hannington, a Trustee, was appointed as Warden to supervise environmental matters at Poor’s Allotment, an asset of the Charity. A sum of £500 (2021: £500) was paid during the year for his services. There were no amounts owed to him at year end. Other than this amount no remuneration, directly or indirectly out of the funds of the Charity, was paid or payable for the year to any Trustee or to any person or persons known to be connected with any of them. No other charity trustees were paid or received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil). No charity trustee received payment or reimbursement of travel and subsistence costs incurred by members relating to attendance at meetings of the trustees. ## **6 Taxation** The Trust is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. ## **7 Tangible fixed assets** |**Cost or valuation**
At the start of the year
At the end of the year
**Depreciation**
At the start of the year
At the end of the year
**Net book value**
**At the end of the year**
At the start of the year|Freehold
Land
£
40,000
40,000
-
-
40,000
40,000|**Total**
**£**
**40,000**| |---|---|---| |||**40,000**| |||**-**| |||**-**| |||**40,000**| |||**40,000**| The land known as Poors Allotment Landfill, Camp Road, Ufton Nervert is owned by the charity and held as permanent endowment. All of the above assets are used for charitable purposes. 13 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **8 Listed investments** |Fair value at the start of the year
Additions at cost
Disposal proceeds
Net gain/(loss) on change in fair value
Cash held by investment broker
Fair value at the end of the year|**Unrestricted**
**£**
**37,623**
**-**
**-**
**(2,096)**|**£**
**1,296,126**
**-**
**-**
**(124,561)**
**Permanent**
**Endowment**|**2022**
**£**
**1,333,749**
**-**
**-**
**(126,657)**|Unrestricted
£
33,184
-
-
4,439|£
1,137,797
-
-
158,329
Permanent
Endowment|2021
£
1,170,981
-
-
162,768| |---|---|---|---|---|---|---| ||**35,527**
**-**|**1,171,565**
**-**|**1,207,092**
**-**|37,623
-|1,296,126
-|1,333,749
-| ||**35,527**|**1,171,565**|**1,207,092**|37,623|1,296,126|1,333,749| Due to the historical nature of these investments it has not been practically prossible to obtain and disclose information relating to the historical costs of these investments. The fair value of listed investments is determined by reference to the closing quoted bid market price. ## **Investments comprise:** |UK Common investment funds - COIF
UK Common investment funds - M & G
Charifund|**Unrestricted**
**£**
**35,527**
-
|**£**
**407,674**
**763,891**
**Permanent**
**Endowment**|**2022**
**£**
**443,201**
**763,891**|Unrestricted
£
37,623
-|£
431,721
864,405
Permanent
Endowment|2021
£
469,344
864,405| |---|---|---|---|---|---|---| ||**35,527**|**1,171,565**|**1,207,092**|37,623|1,296,126|1,333,749| ## **9 Debtors** Accrued income |**2022**
**£**
**100**|2021
£
-| |---|---| |**100**|-| 14 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **10 Creditors: amounts falling due within one year** |Accruals
Funds held as agent for WBC (see note 13)|**2022**
**£**
**2,406**
**19,566**|2021
£
810
-| |---|---|---| ||**21,972**|810| **11 Analysis of net assets between funds** |Tangible fixed assets
Fixed asset investments
Net current assets
**Net assets at the end of the year**|**Unrestricted**
**£**
**-**
**35,527**
**81,897**|**2022**
**£**
**£**
**40,000**
**40,000**
**1,171,565**
**1,207,092**
**-**
**81,897**
**Permanent**
**Endowment**|Unrestricted
£
-
37,623
62,540|£
40,000
1,296,126
-
Permanent
Endowment|2021
£
40,000
1,333,749
62,540| |---|---|---|---|---|---| ||**117,424**|**1,211,565**
**1,328,989**|100,163|1,336,126|1,436,289| |**12**
**Total Permanent Endowment funds**
General funds
**Total Permanent Endowment funds**
**General funds**
**Movements in funds**
**Total funds**
**Permanent Endowment funds:**
Freehold Land
**Total unrestricted funds**
**Permanent Endowment funds:**
Freehold Land
Investments - M&G Charifund & COIF
**Unrestricted funds:**
Investments - M&G Charifund & COIF
**Total unrestricted funds**
**Total funds**
**Unrestricted funds:**|**At 1 January**
**2022**
**£**
**40,000**
**1,296,126**|**Incoming**
**resources &**
**gains**
**£**
**-**
**-**|**Outgoing**
**resources &**
**losses**
**£**
**-**
**-**|**£**
**-**
**(124,561)**
**Net gains/**
**(losses) on**
**investment**|**Transfers**
**£**
**-**
**-**|**At 31**
**December**
**2022**
**£**
**40,000**
**1,171,565**| |---|---|---|---|---|---|---| ||**1,336,126**|**-**|**-**|**(124,561)**|**-**|**1,211,565**| ||**100,163**|**48,571**|**(29,214)**|**(2,096)**|**-**|**117,424**| ||**100,163**|**48,571**|**(29,214)**|**(2,096)**|**-**|**117,424**| ||**1,436,289**|**48,571**|**(29,214)**|**(126,657)**|**-**|**1,328,989**| ||At 1 January
2021
£
40,000
1,137,797|Incoming
resources &
gains
£
-
-|Outgoing
resources &
losses
£
-
-|Net gains/
(losses) on
investment
-
158,329|Transfers
£
-
-|At 31
December
2021
**£**
40,000
1,296,126| ||1,177,797|-|-|158,329|-|1,336,126| ||77,982|44,648|(26,906)|4,439|-|100,163| ||77,982|44,648|(26,906)|4,439|-|100,163| ||1,255,779|44,648|(26,906)|162,768|-|1,436,289| 15 **Ufton Nervet Fuel Allotment Charity Notes to the financial statements** ## **For the year ended 31 December 2022** ## **Purposes of Permanent Endowment funds** Freehold land and Investments are held as permanent Endowment Funds to produce an income to enable assistance to those in fuel poverty in the two parishes. Any surplus funds may be used to fulfil the other charitable objects. ## **13 Funds received as agent** Since June 2022, the charity has started acting as an agent for a third-party charity, The Reverend William Bishop Fund (charity number 236715-1) aka William Bishop Charity (WBC). Funds, held in cash, are administered on the instruction of the principal and recorded separately and disclosed in financial statements. UNFAC will continue to allocate £400 per quarter to this charity. The movement in funds during the year was: |ar was:|| |---|---| |Balance at 1 January 2022
Funds received
Funds and grants paid out on behalf of WBC
3 Quarterly grants from UNFAC to WBC
Balance at 31 December 2022 representing cash held|£
-
19,216
(850)
1,200| ||19,566| ## **14 Capital commitments** There are no capital commitments at the balance sheet date. ## **15 Contingent assets or liabilities** The Trustees have identified no significant contingent assets or liabilities existing at the Balance Sheet date. 16