Ufton Nervet Fuel Allotment Charity
Report and Unaudited Financial Statements Year ended 31 December 2024
Charity Registration No. 236715
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Ufton Nervet Fuel Allotment Charity
Status:
Charity registration no.: 236715
The charity is governed by a Charity Commission scheme dated 1975 and subsequent changes in 1994 and 1999.
Registered Office: Hermits Hill Reading Road Burghfield Common Reading RG7 3BH
Trustees: Mr K Chopping - Chairman 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
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Ufton Nervet Fuel Allotment Charity
Trustees' Report for the year ended 31 December 2024
The Trustees have pleasure in presenting their Annual Report and Financial Statements for the year ended 31 December 2024.
STRUCTURE, GOVERNANCE AND MANAGEMENT Ufton Nervet Fuel Allotment Charity is a charity, registered in England 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 document, 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 Charity. The list of current trustees and trustees who served during any part of the year can be found on page 1. The Hon Treasurer/Secretary manages the day-to-day operation of the charity under the direction of the Trustees, and has delegated authority for payments limited by a bank mandate.
STATEMENT ON PUBLIC BENEFIT
The objectives and activities, and achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity.
OBJECTIVES AND ACTIVITIES
of Ufton Nervet and Sulhamstead. In accordance with the 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.
ACHIEVEMENTS 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 October 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 Organisations and Grants to Individuals. The individuals are assessed to have particular needs, and those whose circumstances are such as to warrant recurrent help receive help with fuel and water expenses. 13 families received fuel and water grants during the year.
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Ufton Nervet Fuel Allotment Charity
Trustees' Report for the year ended 31 December 2024
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 charity has sufficient funds to meet all anticipated demands on it.
Grants made during the year were: Recurrent fuel and water needs for individuals £9,200 (2023: £10,738); William Bishop Charity £1,600 (2023: £1,600); Together in Mission £3,000 (2023: £3,000); SUN PCC £360 (2023: £7,059); SUN School £2,144 (2023: £1500); SUN Village Hall £3,381 (2023: Nil); Ufton Court £3,000 (2023: nil), Ufton Scouts £6,113 (2023: Nil); Ufton PC Nil (2023: £1,640); Often Nervous Players Nil (2023: £300). Altogether grants made during the year totalled £28,798 (2023: £25,837).
FINANCIAL REVIEW
During the year the Charity had income totalling £57,921 (2023: £52,479). Total expenditure during the year amounted to £33,185 (2023: £30,388). Due to net gain on the value of investments at year end of £31,919 (2023: net gain in value of £60,609) the net income for the year amounted to £56,655 (2023: net income £82,700).
With the significant reduction of revenue yield from working the land, the charity's income is restricted to earnings from dividends and deposit account interest from permanently endowed investments in COIF Charity Units and M&G Charifund Units.
The respective investment values as at December 31st 2024 are as stated in note 8 in the notes to accounts.
Investment Policy
The Trustees have chosen their investment vehicles on the basis of their specialization in Charity Funds and their history of prudent financial management.
Reserves policy
Total general reserves of the charity as at 31 December 2024 are £166,944 (2023: £139,509). Whereas, free reserves, which are general reserves excluding fixed assets and investments, are -going activities as there are no committed regular liabilities. The Trustees will review the reserve policy on an annual basis.
The free reserves of the charity are held in units in appropriate Charity fund management companies and cash balances are held on deposit and current account.
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Trusiees. Report for the year ended 31 December 2024 It is the policy of the Trustee5 to support projecis that may TequiTe substantial sums when they come to fruition. The purchase of and refitting of St Peters Chuich in ufton Nervet as a Cultural Community Centre. to which the Charity has made granis in previous years, conrinues. No projeu Is undertaken unless the Trusrees. having taken a prudeni view. are confident that sufficient funds are available. RISK MANAGEMEKr The Trustees have revièwod the major and financial risks that impact on the Work of the charity. The systems that have been established enable the Trustees to review and take necessary steps to lessen these risks. Statement of Tru5tee5' Re5ponslbllltle5 The trustees are respon54ble for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Srandards Iunited Kingdorn Generally Accepted Accounting Practlcel. In preparing these financial siatements, the trustees are required to: a) select suitable accounting policies and apply them consistently- bl observe the merhods and principles in the Charities SORP- cl make judgments and accounting estimates that are reasonable and prudent- dl state wheiher applicable VK accounting standards have been followed. Subject to anv material departures disclosed and explained in the financial statements.. el prepare the financial statements on the going concern basis unless li is inappropriate to presume that the Trust will continue in operation. The TTu51ees are responsible for keeping proper accounting records that are sufficienl to Show and explain the Trust's transaaions and disclose with reasonable accuracy ai any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Art 2011. the Chariry (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This reportwas approved by the Trustees on......................................................... on their behalf by.. and signed Signed Name steel
I report on the financial statements of the Trust for the year ended 31 December 2024 as set out on pages 7 to 16.
Responsibilities and basis of report
As the trustees you are responsible for the preparation of the accounts in accordance
the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
The trustees confirm an audit is not required under section 144(2) of the Act and an independent examination is needed.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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Accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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The accounts do not accord with those records; or
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The accounts 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 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.
Shruti Soni FCCA FCIE Date: 29 October 2025
117A St Johns Hill, Sevenoaks TN13 3PE
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Ufton Nervet Fuel Allotment Charity Statement of financial activities
For the year ended 31 December 2024
| U n r e s t r i c t e d Note £ : 1 0 0 2 5 7 , 8 2 1 5 7 , 9 2 1 3 3 3 , 1 8 5 3 3 , 1 8 5 2 , 6 9 9 2 7 , 4 3 5 11 2 7 , 4 3 5 o n o f f u n d s : 1 3 9 , 5 0 9 1 6 6 , 9 4 4 c a r r i e d f o r w a r d e n t i n f u n d s 2 4 , 7 3 6 brought forward /gains on i t u r e ) / i n c o m e f o r d i t u r e i t u r e ) / i n c o m e a i n s / ( l o s s e s ) o n ctivities aking e o n : g activities - Land |
P e r m a n e n t E n d o w m e n t £ - - - - - 2 9 , 2 2 0 2 9 , 2 2 0 2 9 , 2 2 0 1 , 2 7 2 , 1 8 0 1 , 3 0 1 , 4 0 0 - |
2 0 2 4 T o t a l £ 1 0 0 5 7 , 8 2 1 5 7 , 9 2 1 3 3 , 1 8 5 3 3 , 1 8 5 3 1 , 9 1 9 5 6 , 6 5 5 5 6 , 6 5 5 1 , 4 1 1 , 6 8 9 1 , 4 6 8 , 3 4 4 2 4 , 7 3 6 |
Unrestricted £ 100 52,379 52,479 30,388 30,388 (6) 22,085 22,085 117,424 139,509 22,091 |
Permanent Endowment £ - - - - - 60,615 60,615 60,615 1,211,565 1,272,180 - |
2023 Total £ 100 52,379 52,479 30,388 30,388 60,609 82,700 82,700 1,328,989 1,411,689 22,091 |
|---|---|---|---|---|---|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 11 to the financial statements.
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Ufton New Fuel Allotment Charliy Balance sheet A5 at 31 December 2 24 2024 2023 Note Flxed assets: Tangible a55ets Investmeftis 40.000 .335.701 1.367.620 1.407.620 .375.701 Curreni assets.. Cash at bank and in hand 82.424 57,556 82.424 57.556 UabllltSes: Creditor5.' amounts falling due wiihin one year 21.7(Kl 21.568 Net current assets 60.724 35.988 Total a55ets less current Ilabllltles 1.468.344 .411.689 Total net assets 1,468.3H 1,411.689 The funds of the charty. Permanent Endowment income funds Unrestricted income funds". General fund5 1.301.400 1,272.180 166.944 139.509 Total unrestricied funds 166.944 139.509 Total charlty fuftds 1.468.344 1.411.689 The financial sratements were approved and auihori5ed for issue by ihe Board on 22..QckJktr.2025. Siqned on behalf of the board of trusiees nature Iki Name Trustee
Ufton Nervet Fuel Allotment Charity Notes to the financial statements
For the year ended 31 December 2024
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.
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.
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Ufton Nervet Fuel Allotment Charity Notes to the financial statements
For the year ended 31 December 2024
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 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.
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Ufton Nervet Fuel Allotment Charity
Notes to the financial statements
For the year ended 31 December 2024
2 Income from investments
| f r o m i n v e s t m e n t s |
||||
|---|---|---|---|---|
| and dividend receivable: d M&G |
U n r e s t r i c t e d £ 5 7 , 8 2 1 5 7 , 8 2 1 |
£ - - P e r m a n e n t E n d o w m e n t |
2 0 2 4 T o t a l £ 5 7 , 8 2 1 5 7 , 8 2 1 |
2023 Total £ 52,379 |
| 52,379 |
3 Analysis of expenditure
----- Start of picture text -----
Charitable
activity
Grant Support
making costs 2024 Total
£ £ £
Grants to organisations (note 4) 19,598 - 19,598
Grants to individuals (note 4) 9,200 - 9,200
Treasurer current year - 2,000 2,000
Secretary/Warden - 1,000 1,000
Sundry expenses - 276 276
Insurance - 151 151
Independent Examiner - 960 960
28798 4387 33185
Support costs 4387 (4,387) -
Total expenditure 2024 33185 - 33185
Total expenditure 2023 30,388 - 30388
----- End of picture text -----
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Ufton Nervet Fuel Allotment Charity
Notes to the financial statements
For the year ended 31 December 2024
3 Analysis of expenditure (Continued)
| nts to organisations (note 4) nts to individuals (note 4) asurer relates to 2022 asurer retary/Warden ndry expenses urance ependent Examiner pport costs al expenditure 2023 |
Charitable activity Grant making £ 15,099 10,738 - - - - - - 25,837 4,551 30,388 |
Support costs £ - - 500 2,000 1,000 - 151 900 4,551 (4,551) - |
2023 Total £ 15,099 10,738 500 2,000 1,000 - 151 900 |
|---|---|---|---|
| 30,388 - |
|||
| 30,388 |
All expenditure in current and previous year was unrestricted.
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.
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Ufton Nervet Fuel Allotment Charity Notes to the financial statements For the year ended 31 December 2024
4 Grant making
| G r a n t s t o i n s t i t u t i o n s £ hardship or distress13 individuals (2023:13 individuals) - C 3 6 0 ool 2 , 1 4 4 tead Village Hall 3 , 3 8 1 r in Mission 3 , 0 0 0 ourt 3 , 0 0 0 outs 6 , 1 1 3 C Grant Re Playpark Fence - ervous Players - Bishop Charity 1 , 6 0 0 nd of the year 1 9 , 5 9 8 ee surgery d Village Hall: New sound system, shed ladder Mission: To provide a local befriending service op Charity: To provide educational assistance for students under 25 ant Re Playpark Fence- To Maintain Fencing - From Farm to Fork Project s - Fencing and entrance to 30 acre piece us Players - To maintain the lighiting. - New roof |
G r a n t s t o i n d i v i d u a l s £ 9 , 2 0 0 - - - - - - - - 9 , 2 0 0 |
2 0 2 4 £ 9 , 2 0 0 3 6 0 2 , 1 4 4 3 , 3 8 1 3 , 0 0 0 3 , 0 0 0 6 , 1 1 3 - - 1 , 6 0 0 2 8 , 7 9 8 |
2023 £ 10,738 7,059 1,500 - 3,000 - - 1,640 300 1,600 25,837 |
|---|---|---|---|
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.
the Charity. A sum of £500 (2023: £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 (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £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
----- Start of picture text -----
Freehold
Land Total
£ £
Cost or valuation
At the start of the year 40,000 40,000
At the end of the year 40,000 40,000
Depreciation
- -
At the start of the year
- -
At the end of the year
Net book value
At the end of the year 40,000 40,000
At the start of the year 40,000 40,000
----- End of picture text -----
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.
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Ufton Nervet Fuel Allotment Charity Notes to the financial statements For the year ended 31 December 2024
8 Listed investments
| he start of the year ost eeds ) on change in fair value investment broker he end of the year |
U n r e s t r i c t e d £ 1 0 3 , 5 2 1 - - 2 , 6 9 9 1 0 6 , 2 2 0 - 1 0 6 2 2 0 |
£ 1 , 2 3 2 , 1 8 0 - - 2 9 , 2 2 0 1 , 2 6 1 , 4 0 0 - 1 2 6 1 4 0 0 P e r m a n e n t E n d o w m e n t |
2 0 2 4 £ 1 , 3 3 5 , 7 0 1 - - 3 1 , 9 1 9 1 , 3 6 7 , 6 2 0 - 1 3 6 7 6 2 0 |
Unrestricted £ 35,527 68,000 - (6) 103,521 - 103521 |
£ 1,171,565 - - 60,615 1,232,180 - 1232180 Permanent Endowment |
2023 £ 1,207,092 68,000 - 60,609 1,335,701 - 1335701 |
|---|---|---|---|---|---|---|
Due to the historical nature of these investments it has not been practically possible to obtain and disclose information relating to the historical costs of these investments.
Of the total unrestricted investments at year end, investments held on behalf of WBC were valued at £18,884 (see note 12). The fair value of listed investments is determined by reference to the closing quoted bid market price.
Investments comprise:
| nvestment funds - COIF nvestment funds - M & G |
U n r e s t r i c t e d £ 1 0 6 , 2 2 0 - 1 0 6 2 2 0 |
£ 4 0 8 , 4 7 4 8 5 2 , 9 2 6 1 2 6 1 4 0 0 P e r m a n e n t E n d o w m e n t |
2 0 2 4 £ 5 1 4 , 6 9 4 8 5 2 , 9 2 6 1 3 6 7 6 2 0 |
Unrestricted £ 103,521 - 103521 |
£ 398,095 834,085 1232180 Permanent Endowment |
2023 £ 501,616 834,085 1335701 |
|---|---|---|---|---|---|---|
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Ufton Nervet Fuel Allotment Charity Notes to the financial statements For the year ended 31 December 2024
- 9 Creditors: amounts falling due within one year
| gent for WBC (see note 12) | 2 0 2 4 £ 2 , 5 4 2 1 9 , 1 5 8 2 1 , 7 0 0 |
20 9 20,6 21,5 |
|---|---|---|
10 Analysis of net assets between funds
----- Start of picture text -----
Permanent Permanent
Unrestricted Endowment 2024 Unrestricted Endowment 2023
£ £ £ £ £ £
Tangible fixed assets - 40,000 40,000 - 40,000 40,000
Fixed asset investments 106,220 1,261,400 1,367,620 103,521 1,232,180 1,335,701
Net current assets 60,724 - 60,724 35,988 - 35,988
Net assets at the end of the year 166,944 1,301,400 1,468,344 139,509 1,272,180 1,411,689
Movementsovementsvementsementsmentsentsntstss inn fundsundsndsdss
Incoming Outgoing Net gains/ At 31
At 1 January resources & resources & (losses) on December
2024 gains losses investment Transfers 2024
£ £ £ £ £ £
Permanent Endowment funds:
Freehold Land 40,000 - - - - 40,000
Investments - M&G Charifund & COIF 1,232,180 - - 29,220 - 1,261,400
Total Permanent Endowment funds 1,272,180 - - 29,220 - 1,301,400
Unrestricted funds:
General funds 139,509 57,921 (33,185) 2,699 - 166,944
Total unrestricted funds 139,509 57,921 (33,185) 2,699 - 166,944
Total funds 1,411,689 57,921 (33,185) 31,919 - 1,468,344
Incoming Outgoing Net gains/ At 31
At 1 January resources & resources & (losses) on December
2023 gains losses investment Transfers 2023
£ £ £ £ £
Permanent Endowment funds:
Freehold Land 40,000 - - - - 40,000
Investments - M&G Charifund & COIF 1,171,565 - - 60,615 - 1,232,180
Total Permanent Endowment funds 1,211,565 - - 60,615 - 1,272,180
Unrestricted funds:
General funds 117,424 52,479 (30,388) (6) - 139,509
Total unrestricted funds 117,424 52,479 (30,388) (6) - 139,509
Total funds 1,328,989 52,479 (30,388) 60,609 - 1,411,689
----- End of picture text -----
11 Movementsovementsvementsementsmentsentsntstss inn fundsundsndsdss
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Ufton Nervet Fuel Allotment Charity Notes to the financial statements For the year ended 31 December 2024
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.
12 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:
| at 1 January 2024 eceived nd grants paid out on behalf of WBC d Received on Behalf of WBC erly grants from UNFAC to WBC at 31 December 2023 ented by: eld ents in M&G Charifund at cost |
£ 20,662 - (3,104) - 1,600 19,158 1,158 18,000 |
|---|---|
As at the year end, investments in M&G Charifund were valued at £18,884 (see note 8)
13 Capital commitments
There are no capital commitments at the balance sheet date.
14 Contingent assets or liabilities
The Trustees have identified no significant contingent assets or liabilities existing at the Balance Sheet date.
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