# **STRATFIELD MORTIMER RELIEF IN NEED CHARITY TRUSTEES’ ANNUAL REPORT AND ACCOUNTS**
**YEAR ENDED 31 DECEMBER 2024**
**Charity Number 237073**
**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024
## **CONTENTS**
||**Page**|
|---|---|
|Report of the Trustees|3-5|
|Independent Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Notes to the Financial Statements|9-11|
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024 **REPORT OF THE TRUSTEES**
The Trustees present their report along with the financial statements of the Charity for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the Charities SORP (FRSSE) entitled “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities effective January 2016” and comply with the Charities Act 2011. The financial statements comply with the Charity’s governing document.
## **Administrative details**
The Trustees who served during the year were as follows:-
|Chairman and Ex OfficioTrustee|Mr Edward Benyon|
|---|---|
|Treasurer and Co-opted Trustee|Mr Christopher Conran|
|Co-opted Trustee|Dr Derrick Lander|
|Co-opted Trustee|Mr Geoff Batchelar|
|Co-opted Trustee|Mr Michael Hatch|
|Ex Officio Trustee|Rev. Paul Chaplin|
|Nominative Trustee|Mrs Mollie Lock|
|Nominative Trustee|Mr Jim Thompson|
|Nominative Trustee|Mr Thomas Watt|
The Charity is governed by a deed dated 9 August 1996 and is registered with the Charity Commission as number 237073. The address of the Charity is care of Mrs V Glanville (Administrator), 3 Beenham Court, Newbury Road, Headley, Hants RG19 8JX.
Advisors:-
|Bankers:|National Westminster Bank, Reading|
|---|---|
|Solicitors:|Blandy and Blandy, Reading|
|Property Advisors|Simmons and Son, Henley-on-Thames|
|Independent Examiner|John Jenkins FCA|
## **Objects, Organisations and Activities**
Stratfield Mortimer Relief in Need Charity (“the Charity”) is an amalgamation of several ancient charities dating back to the sixteenth century. The area it covers is the ancient ecclesiastical parish of Stratfield Mortimer, which now comprises the parishes of Stratfield Mortimer, Mortimer West End and Wokefield. Its principal asset is Burnt Common, in Mortimer West End, which has been used traditionally to provide winter fuel to the old and needy in the parish. The charity did this originally by providing wood from the land, and later by raising money from the provision of grazing rights to local farmers. In 1995 an agreement was entered into with ARC Southern (now Hanson Aggregates) to allow that company to extract gravel from the land. The licence entitled the Charity to a royalty based on the amount of gravel extracted.
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024 **REPORT OF THE TRUSTEES** (continued)
The gravel extraction was effectively completed in June 2006, following which the land is being restored, partly to agricultural land and partly to a nature reserve. During this time the Charity will be entitled to a rent of at least £2,000 per annum.
Heidelberg Materials (one of the world’s largest companies in this field) have acquired Hanson Aggregates and thus responsibility for restoration of Burnt Common and arranging for the site to be managed by a suitable wildlife management entity for an 80 year period. Restoration works are still not complete and there is an ongoing negotiation between Hampshire Wildlife Trust (“HWT”) and Heidelberg as to what sum the latter should pay HWT to take on that responsibility. At the same time our Trustees are negotiating a payment to compensate the Charity for the likely loss of grazing income referred to in last year’s Report.
## **Structure, governance and management**
The Charity is governed by a formal constitution and managed by the Trustees, who form the body of charity trustees as defined by the Charities Act 1960. The Trustees comprise two Ex officio members, being a representative of the Lord of the Manor and the Vicar of Mortimer, three members nominated by the three relevant parish councils, and up to five co-opted members.
They meet as required to deal with the various grants of money and to administer the Charity. There are broadly two types of grant. The first is the traditional grant of money or vouchers to the old and needy for the provision of winter fuel in conjunction with Age Concern (Mortimer). In addition more general grants are made in special cases of need. The second category is the grant of funds for the benefit of the people of the parish. This largely takes the form of grants to local organisations.
Following consultation with the Charity Commissioners, the Trustees were required to set aside 75% of the funds received from gravel extraction into a long-term capital fund, described in the accounts as the restricted fund, to give the Charity the ability to generate income after the gravel extraction was completed. The remaining 25% of the gravel extraction income was available for disbursement as described above together with the other income of the Charity.
The Trustees have considered the major risks which the Charity faces and confirm that systems have been established to ensure that the necessary actions may be taken.
Our thanks go to our administrator, Mrs Vicky Glanville, who manages the day-to-day affairs of the Charity, and acts as its principal point of contact.
## **Review of progress, achievements and finances**
## Investments and income
The Charity has benefited during the year from a marginal increase in income and an increase in capital values of £71,000 compared to 2023. The net assets of the Charity at the year end were just over £2.1 million.
## **REPORT OF THE TRUSTEES** (continued)
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024
## Disbursements
There was an increase in the level of activities during the year with more grants being made to local organisations. Grants paid in the year amounted to some £72,000 (2023: £43,000) and include £31,500 to enable our Schools in Mortimer to give extra help to pupils with special needs.
As in 2023, grants were made to individuals and families in need, including the provision of a number of Christmas hampers. Our support for Age Concern (Mortimer) in the form of fuel benefits continues.
## Reserves
The Trustees’ policy is to maintain a substantial margin available for distribution over and above the amounts of grants approved. At 31 December 2024 such available reserves were some £425,000 after allowing for £63,000 for future grants conditionally approved.
## **Statements of Trustees’ Responsibilities**
Laws applicable to charities in England and Wales require the trustees to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its position at the end of the year. In preparing those financial statements, the trustees are required to:-
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees on and signed on their behalf by:-
Edward Benyon Chairman
## **Independent Examiner’s Report to the Trustees of the Stratfield Mortimer Relief In Need Charity**
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024
I report on the accounts of the charity for the year ended 31 December 2024, which are set out on pages 8 to 12.
## **Respective Responsibilities of the Trustees and Independent Examiner.**
As described on page 5, the Trustees are responsible for the preparation of the accounts, and you consider that the audit requirement of s144 (2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under s145 (5)(b) of the Act, whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you of any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with s130 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Seal Lodge Simms Lane Mortimer
John Jenkins FCA 2025
## **Statement of financial activities Year ended 31 December 2024**
**Unrestricted Restricted**
**Total**
Total
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## **Stratfield Mortimer Relief in Need Charity**
## Trustees’ annual report and accounts
for the year ended 31 December 2024
|Trustees’ annual report and accounts
for the year ended 31 December 2024|||||||
|---|---|---|---|---|---|---|
||**Funds**|**funds**||**2024**||2023|
||**£**|**£**||**£**||£|
|**Income**|||||||
|Rent from land|**2,150**|**-**||**2,150**||2,150|
|Investment income|**59,839**|**-**||**59,839**||58,028|
|Bank Interest|**1,612**|**-**||**1,612**||1,263|
||**______**|**_______**||**______**||______|
|**Total income**|**63,601**|**-**||**63,601**||61,441|
||**======**|**======**||**=====**||=====|
|**Expenditure**|||||||
|Charitable Activities|||||||
|Grants to local bodies (see note 5)|**56,403**|**-**||**56,403**||25,776|
|Age Concern Fuel benefit|**7,400**|**-**||**7,400**||7,200|
|Provision of for special cases|**7,180**|**-**||**7,180**||9,093|
|Vicar’s relief in need fund|**1,000**|**-**||**1,000**||1,000|
||**______**|**_______**||**______**||______|
|Total Charitable Expenditure|**71,983**|**-**||**71,983**||43,069|
|Other|||||||
|Administrative expenses|**4,359**|**-**||**4,359**||3,875|
|Independent Examiner’s fee|**100**|**-**||**100**||100|
||**----------**|**----------**||**---------**||---------|
|**Total expenditure**|**76,442**|**-**||**76,442**||47,044|
||**======**|**======**||**======**||=====|
|**Net outgoings over income**|**(12,841)**|||**(12,841)**||14,397|
|Increase/(decrease) in value of investments|**9,855**|**61,060**||**70,915**||116,217|
||**_______**|**_______**||**_______**|_______||
|**Net increase/(decrease) in funds**|**(2,986)**|**61,060**||**58,074**||130,614|
|Balances brought forward|**491,608**|**1,610,769**||**2,102,377**||1,971,763|
||**_______**|**________**|**________**||________||
|**Balances carried forward**|**488,622**|**1,671,829**||**2,160,451**||2,102,377|
||**======**|**=======**|**=======**||=======||
The notes on pages 9 to 11 form part of these Accounts
**Balance sheet At 31 December 2024**
**Notes 2024**
2023
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**Stratfield Mortimer Relief in Need Charity**
Trustees’ annual report and accounts for the year ended 31 December 2024
**£ £** £ £ **Fixed Assets** Investment property 2 **10,000** 10,000 Investments 3 **2,070,253** 1,999,338 **________ 2,080,253** ________ 2,009,338 **Current Assets** Cash at bank and on deposit **82,778** 100,585 **Current liabilities** Accrued expenses 4 **(2,580)** (7,546) **______** ______ **Net current assets 80,198** 93,039 **_________** ________ **Net assets 2,160,451** 2,102,377 **========** ======= **Funds** Unrestricted funds **488,622** 491,608 Restricted funds **1,671,829** 1,610,769 **________2,160,451** _________2,102,377 **========** ========
The Trustees have taken advantage of the provisions of The Charities Act 2011, which allow exemption from audit on charities under a certain level of income.
Approved by the Trustees on and signed on their behalf by:-
Edward Benyon Chairman
Christopher Conran Treasurer
The notes on pages 9 to 11 form part of these Accounts
## **Notes to the financial statements**
## **1. Accounting policies**
- **a) Basis of preparation**
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024
The financial statements have been prepared in accordance with the Charities SORP (FRSSE) entitled “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities effective January 2016” and comply with the Charities Act 2011.
## **b) Investment income**
Investment income is recorded when receivable.
## **c) Expenditure**
## **i) Grants payable**
Expenditure on grants is recorded once the Trustees have agreed to pay the grant and this is communicated to the beneficiary.
## **ii) Other expenditure**
Other expenditure is included in the financial statements on the accruals basis.
## **d) Investment property**
The investment property is included at Trustees’ valuation as at the balance sheet date.
## **e) Investments (Unit Trusts)**
Investments in unit trusts have been valued at market value at the balance sheet date.
## **f) Realised/unrealised gains and losses on investments**
Unrealised and realised investment gains and losses are shown net in the Statement of Financial Activities.
## **Notes to the financial statements- continued**
## **2. Investment Property**
The investment property is the land known as Burnt Common in Mortimer West End. It is included in the accounts at Trustees’ valuation, which is on the basis of poor agricultural land.
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024
## **3. Investments**
The investments are in specific charity unit trusts and are included at market value at the balance sheet dates
||**2024**|2023|
|---|---|---|
||**£**|£|
|Market value at start of year|**1,999,338**|1883,121|
|Additional investments|-|-|
|Increase/(decrease) in value|**70,915**|116,217|
||**-----------**|**-------------**|
|Market value at end of year|**2,070,253**|1,999,338|
||**=======**|========|
|**Restricted Fund**|||
|COIF Charities Investment Fund|**1,105,254**|1,078,581|
|Blackrock Charities Growth & Income|||
|Fund|**556,575**|522,188|
||**------------**|**------------**|
||**1,661,829**|1,600,769|
|**Unrestricted Fund**|||
|COIF Charities Investment Fund|**408,424**|398,569|
||------------
|**------------**|
||**2,070,253**
|1,999,338|
||**=======**
|**=======**|
## **Notes to the financial statements- continued**
|**4.**|**Creditors**|||
|---|---|---|---|
|||**2024**|2023|
|||**£**|£|
||Bookkeeping Fees|**300**|300|
||Independent Examiner’s Fee|**100**|100|
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**Stratfield Mortimer Relief in Need Charity** Trustees’ annual report and accounts for the year ended 31 December 2024
|for|the year ended 31 December 2024|||
|---|---|---|---|
||Christmas Hampers|**2,180**|7,146|
|||**------------**|**----------**|
|||**2,580**|7,546|
|||**=======**|======|
|**5.**|**Grants to local bodies**|||
|||**2024**|2023|
|||**£**|£|
||St John’s and St Mary’s Schools|**31,534**|-|
||Clarkes Educational Foundation|**14,000**|10,000|
||Together in Mission|**5,000**|7,500|
||Mortimer Warm Space|**2,250**|1,600|
||Methodist Church|**1,960**|250|
||Mortimer West End Produce Show|**1,159**|1,071|
||Mortimer Library|**500**|-|
||Mortimer West End Cricket Club|-|4,000|
||Age Concern|**-**|855|
||Mortimer Village Partnership|**-**|500|
|||**------------**|**----------**|
|||**56,403**|25,776|
|||**=======**|======|
## **6. Trustee’s costs**
No trustee received any remuneration in the year and no trustee was reimbursed any expenses.
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