REGISTERED CHARITY NUMBER: 238273
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2022
for
Thornbury Consolidated Charities
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY
Thornbury Consolidated Charities
Contents of the Financial Statements
for the Year Ended 31 December 2022
|
|
Page |
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Reference and Administrative Details |
|
1 |
|
Report of the Trustees |
2 |
to |
5 |
Independent Examiner's Report |
|
6 |
|
Statement of Financial Activities |
|
7 |
|
Balance Sheet |
|
8 |
|
Notes to the Financial Statements |
9 |
to |
17 |
Detailed Statement of Financial Activities |
18 |
to |
19 |
Thornbury Consolidated Charities
Reference and Administrative Details
for the Year Ended 31 December 2022
TRUSTEES |
P M Morrish Trustee |
|
H Harrison Trustee (resigned 11.7.22) |
|
T Ray Chair |
|
S A Holloway Trustee (resigned 30.4.22) |
|
C Parkinson Trustee |
|
M Powell Trustee (resigned 25.11.22) |
|
T Pearce Trustee |
|
P A Belbin (appointed 31.3.23) |
|
A C Symonds (appointed 16.9.22) |
|
C J Davies (appointed 16.9.22) |
PRINCIPAL ADDRESS |
23 Cumbria Close |
|
Thornbury |
|
Bristol |
|
South Glos |
|
BS35 2YE |
REGISTERED CHARITY NUMBER |
238273 |
INDEPENDENT EXAMINER |
Dunkley's |
|
Woodlands Grange |
|
Woodlands Lane |
|
Bradley Stoke |
|
Bristol |
|
BS32 4JY |
BANKERS |
National Westminster Bank plc |
|
PO Box 1369 |
|
16 The Plain |
|
Thornbury |
|
Bristol |
|
BS99 5HD |
Page 1
Thornbury Consolidated Charities
for the Year Ended 31 December 2022
Report of the Trustees
Thetrusteespresenttheirreportwiththe financialstatementsofthe charityforthe yearended31 December2022.Thetrustees have
adoptedthe provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities preparing
theiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
ItshouldbenotedthattwonewTrustees,CllrAngelaSymondsandCllrChrisDavieswereappointedtotheTrustbyThornbury Town
Councilfollowingthe resignationof two NominativeTrustees(Helen Harrisonand Shirley Holloway).Both new Trusteeswere welcomed
to the Board on 16th September 2022.
OBJECTIVES AND ACTIVITIES
Objectives of the charity
The objects of the charity, as contained in the Declaration of Trust are:
a) The provisionof Almshousesfor poor aged widowers,widowsor other single personsof good characterwho are residentin the area
of benefit, Thornbury.
b) The provision of relief of persons in need resident in the parish of Thornbury.
Significant activities
Themainactivitiesofthecharitycontinuetobe in theareaofsupportfortheresidentsoftheparishofThornburywhofitour criteria
for relief in need.
Thetrusteesbelievethattheactivitiesdescribedaboveareforthepublicbenefit,throughthesupportofthoseinneedinthearea of
Thornbury.
Public benefit
TheTrusteeshavehadregardtotheCharityCommissionguidanceonPublicBenefitandtotheneedtoreportonitsobservance and
delivery.
Page 2
Thornbury Consolidated Charities
for the Year Ended 31 December 2022
Report of the Trustees
ACHIEVEMENT AND PERFORMANCE
Charitable activities
WiththedevelopmentofaneffectiveCovidvaccinein2021,thesocialdistancingrestrictionsintheUKweregraduallyliftedand the
Trustees resumed the periodic meetings on a face-to-face basis from September 2021. Six periodic meetings were arranged in 2022.
TheTrustcontinuestomaintainthefouralmshouses.Thedelayedplannedmaintenanceprogrammesfor2022for34HighStreet and
Millard House were approvedand are awaitingthe appointmentof a Quantity Surveyor.The safety of the residents is paramount:a new
Fire Alarm System has been fitted, as well as new self-closingfire doors and heat detectorsin the kitchens.The lobby has been improved
with a new carpet. There were no reports of tobaccosmoke during the year. The CCTV system is now fully operational24/7 covering the
front door, the rear garden area, and the new electric scooter shed.
Nothingfurtherhas been heard aboutthe legalactionthat was threatenedin 2021 by a residentwhofell on the area at the side of the
almshouse.Followingtheappointmentofanewresidenttowardstheendof2021,anotificationwasreceivedfromthe Almshouse
Association(AA) that a complainthad been received.The Clerk discussedthe appointmentwith the AA, who were content that the Trust
had appointedthe residentcorrectly.The residentshave been remindedthat they shouldnotifythe Trust if there is a significant change
intheirfinancialcircumstances,andafteracontractorcouldnotaccessoneoftheflats,theresidentswereremindedthat sometimes
the Trust will need urgent access to the properties.
BWScarriedouttwobi-annualFireAlarminspections.TheClerkandTrusteescarriedoutweeklyfirealarmtestsaswellas monthly
emergency lighting, legionella, and fire door closer tests.
The Trust supported82 individualsat Christmastime who fit our criteria for help within the parish. This help was maintainedat £130 per
person and the cash was deliveredby hand by the Trusteesand Clerk and a signatureobtainedfrom each beneficiaryto confirm receipt.
Atotalof£10,660wasprovidedunderthiscategoryandinadditionagrantof£150wasmadetotheindividualwhomaintains the
allotment's hedges and grassy paths.
TheTrustalsosupportedtwelvelocalgroupsandorganisationsatChristmaswithgrantsrangingfrom£175to£550.A totalof £3,425
was provided under this category. A total of £14,235 was granted in the form of Christmas gifts.
Thecharityconsideredanumberofapplicationsforsupportfromindividualsinfinancialdifficultiesandapprovedgrantsfor the
purchaseoffurniture,whitegoods,and manyotherbasicitemsas wellas helpingwithdebtrelief.In all,21 householdsreceived grant
supportof £10,962in total.In addition,a grant of £1,200was given to New Start Debt Advice,a localagencyadvisingon budgeting and
debt relief. There were no applications for support from organisations (PHASE and Jigsaw) for counselling for young people this year.
In summary in 2022, the Trust made grants of £21,772 to families in need and £4,625 in support of organisations.
FINANCIAL REVIEW
Financial position
At the balance sheet date, the charity had the following key totals.
The total net assets held by the charity was £991,513 (2021 - £1,015,924).
Included within this value are funds committed and invested in tangible fixed assets totalling £518,979 (2021 - £534,105)
Thenetcurrentassets£472,534(2021-£481,819)afterexcludingrestrictedfundsof£283,490(2021-£284,941)leavetotal 'free'
reserves of £189,044 (2021 - £196,878).
The majorityof these movementsresultfromthe Trust'sdecisionto moveconsiderablefunds from'free'to 'restricted'funds to ensure
future building maintenance programmes can be properly funded.
Investment Powers & Policy
TheTrusteeshavethesamefullandunrestrictedpowersofinvestingandtransposinginvestmentsinallrespectsasifthey were
absolutely and beneficially entitled thereto.
TheTrusteesintendtherealvalueofthecharity'sassetstobemaintainedoverthelongtermbyinvestmentina portfolioof equities,
fixed income stocksand cash deposits.Consistentwith this objective,the Trusteeswish to obtain dividendand interest income from the
portfolioeach year to contributetowardsthe purposesof the society.The Trusteeshas previouslydecided that followingguidance from
the CharityCommissionit wasnowappropriateto employa professionalfinancialadvisor;however,the Trustoverturnedthis decision
becauseof a delayof over12 monthsby the selectedadvisorin managingthe changeof investments.A new appointmentto the board
ofTrusteeshasextensiveexperienceinportfoliomanagementandwillbeabletoleadthediscussiononassetmanagement going
forwards.
Page 3
Thornbury Consolidated Charities
for the Year Ended 31 December 2022
Report of the Trustees
FINANCIAL REVIEW
Reserves
TheTrusteeshaveestablishedapolicywherebytheunrestrictedfundsnotcommittedorinvestedintangiblefixedassets("the free
reserves")held by the charityshouldbe betweentwiceand fourtimesthe averageof the last three yearsexpenditure.At this level the
Trusteesfeel that they would be able to continuethe current activitiesof the organisationin the event of a significantdrop in funding. If
this occurredit wouldbe necessaryto considerhow the fundingwouldbe replacedor activitieschangedaccordingly.The charityis now
becomingmorewidelyknowninthelocalcommunityandrequestsforgrantsareregularlyreceivedfromvariousagenciesaswell as
individuals.
The average expenditure over the past three years (2020 to 2022) was £54,166..
The free reserves as detailed in the Financial Position section above is £189,044, which reflects 3.5 times the average expenditure.
REVIEW OF FUTURE DEVELOPMENTS
In2022,theTrustcontinuedtoworkwithanddeveloprelationswithhousingagencies,debtadviceagenciesandthelocalcouncil -
many of the grants made in 2022 were as a result of referralsfrom these agencies.Applicationsfrom these agenciesis expected to grow
inthenextyeargiventhatinflationisexpectedtoriseto10%andgovernmentsupportforpeopleinneedhasnot increased
proportionately.
Thereareseveralmajormaintenanceitemsthatwilltakeplacein2023mainlyasaresultoftheextensivequinquennialreviewof the
Trust's properties.
TheTrustwillmovetoanewbankaccountwiththeCooperativeBankin2023,whereonlinetransactionscanbemadeusing dual
signatures;thecurrentbankingsystemhasprovendifficultwithmanyplacesnotacceptingcheques,anditwillbeausefulswitch for
future transactions in general.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Charity constitution
The charity is constituted by a scheme dated 22 April 1981, although the Charity can be traced back to its inception in the 1880s.
Appointment of Trustees
ThreetrusteesarenominatedbyThornburyTownCouncil,thesetrusteesserveforatermoffouryears.Fourtrusteeswho are
considered to have a special knowledge of Thornbury are co-opted and serve for a five-year term. They are chosen by the trustees.
Organisational structure
The organisation responsible for administering Thornbury Consolidated Charities is Thornbury Town Trust.
Clerk to the Trust
MrsSallyBertramcontinuesintheroleofClerktotheTrust.Shehasperformedthisrolewithexcellenceandhasdeveloped close
workingrelationshipswiththeTrusttenantsatMillardHouseand34HighStreet,andtheplotholdersatDaggsAllotments,aswell as
efficientlymanagingthe day-to-dayhandlingof the Trust'smeetings,accounts,objectivesand applicationsfor supportwith compassion
and impressive competence.
Risk review
TheTrusteescarriedoutanannualreviewoftherisksfacedandtheproceduresestablishedtomanagethoserisks.Internalrisks are
minimisedbytheimplementationofeffectivecontrolprocedures,whichensurebothappropriateauthorisationofalltransactions and
projectsand consistentqualityof deliveryfor all operationalaspectsof the charity.These procedureswere reviewedin November 2020
and through in to 2021 for their continuing effectiveness.
The Trustees were content that they had sufficient funds to carry out major structural repairs at the Almshouses and 34 High Street.
HERITAGE ASSETS
TheThornburyMace(1700)byBenjaminePynevaluedat£60,0000remainsatBristolMuseumonpermanentloan,anda chest
containingmarketrelicsincludingmetalscales,weightsandmeasures,andtwostavescontinuestobeheldinThornburyTown Hall.
These items hold no significant financial value.
Page 4
Thornbury Consolidated Charities
Report of the Trustees
for the Year Ended 31 December 2022
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................................
Trustee
Page 5
Independent Examiner's Report to the Trustees of Thornbury Consolidated Charities
Independent examiner's report to the trustees of Thornbury Consolidated Charities
IreporttothecharitytrusteesonmyexaminationoftheaccountsofThornburyConsolidatedCharities(theTrust)fortheyear ended
31 December 2022.
Responsibilities and basis of report
As the charitytrusteesof the Trustyou are responsiblefor the preparationof the accountsin accordancewiththe requirementsof the
Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActandincarryingout my
examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwiththe examination
giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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 any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I havenoconcernsandhavecomeacrossnoothermattersin connectionwiththeexaminationtowhichattentionshouldbe drawn in
this report in order to enable a proper understanding of the accounts to be reached.
Matthew Dobbins FCA
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY
Date: .............................................
Page 6
Thornbury Consolidated Charities
Statement of Financial Activities
for the Year Ended 31 December 2022
Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
Millard House Almshouses
Daggs Allotments
Investment income
2
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Xmas community support
Miscellaneous Donations
Nursing Home Fees
Other
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
12
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
£
14,396
3,194
29,638
1,624
48,852
1,365
14,235
12,162
-
16,801
44,563
(5,147)
(858)
(5,602)
(6,460)
695,983
689,523 |
Restricted
£
-
-
9,515
-
9,515
-
-
-
-
4,079
4,079
(7,489)
(2,053)
5,602
3,549
284,941
288,490 |
Endowment
£
-
-
-
-
-
-
-
-
-
-
-
(21,500)
(21,500)
-
(21,500)
35,000
13,500 |
31.12.22
Total
funds
£
14,396
3,194
39,153
1,624
58,367
1,365
14,235
12,162
-
20,880
48,642
(34,136)
(24,411)
-
(24,411)
1,015,924
991,513 |
31.12.21
Total
funds
£
8,572
-
32,147
5,386 |
|
|
|
|
|
46,105 |
|
|
|
|
|
1,321
11,820
13,107
3,600
28,312 |
|
|
|
|
|
58,160 |
|
|
|
|
|
62,712 |
|
|
|
|
|
50,657
- |
|
|
|
|
|
50,657
965,267 |
|
|
|
|
|
1,015,924 |
The notes form part of these financial statements
Page 7
Thornbury Consolidated Charities
Balance Sheet
31 December 2022
Notes
FIXED ASSETS
Tangible assets
6
Heritage assets
7
Investment property
8
CURRENT ASSETS
Debtors
9
Investments
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
Endowment funds
TOTAL FUNDS |
Unrestricted
£
204,979
-
291,500
496,479
1,390
180,894
10,634
192,918
(3,874)
189,044
685,523
685,523 |
Restricted
£
-
5,000
-
5,000
-
257,555
25,935
283,490
-
283,490
288,490
288,490 |
Endowment
£
-
-
13,500
13,500
-
-
-
-
-
-
13,500
13,500 |
31.12.22
Total
funds
£
204,979
5,000
305,000
514,979
1,390
438,449
36,569
476,408
(3,874)
472,534
987,513
987,513
685,523
288,490
13,500
987,513 |
31.12.21
Total
funds
£
202,605
5,000
326,500 |
|
|
|
|
|
534,105
1,283
444,815
38,789 |
|
|
|
|
|
484,887
(3,068) |
|
|
|
|
|
481,819 |
|
|
|
|
|
1,015,924 |
|
|
|
|
|
1,015,924 |
|
|
|
|
|
695,983
284,941
35,000 |
|
|
|
|
|
1,015,924 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon.............................................and were
signed on its behalf by:
.............................................
Trustee
The notes form part of these financial statements
Page 8
Thornbury Consolidated Charities
Notes to the Financial Statements
for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthe charity,whichis a publicbenefitentityunderFRS 102,havebeen preparedin accordance with
theCharitiesSORP(FRS102)'AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicable to
charitiespreparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland(FRS102)(effective1 January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshavebeenpreparedunderthe historical
cost convention, as modified by the revaluation of certain assets.
Income
All income is recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds, it is probable that
the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthecharityto that
expenditure,it is probablethat a transferof economicbenefitswill be requiredin settlementand the amountof the obligation
canbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadings that
aggregateallcostrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingstheyhave been
allocated to activities on a basis consistent with the use of resources.
Grants offeredsubject to conditionswhich have not been met at the year end date are noted as a commitmentbut not accrued
as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property- 2% on cost
Fixtures and fittings- 20% on reducing balance
Heritage assets
Heritageassets are held at historicalcost or fair value at the time of donation.Depreciationhas been consideredfor all heritage
assets. For those with an indefinite life, no depreciation has been charged.The following assets have an indefinite life:
Silver mace
Metal scales, weights and measures
Two staves
Chest
Forallotherheritageassetsdepreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.No heritage assets currently held are depreciated.
The Trust does not solicit or expect any more donations of a heritage nature.
The history and nature of the Heritage assets currently held by the Town Trust is held by the Trust's Clerk.
Visitstotheboxofweightscanbe arrangedthroughtheThornburyTownClerkattheTownHall;theThornburyMacecan be
viewed during opening hours in the Silver Room at the Bristol Museum.
ThornburyTownTrustalsoownsaParcelGiltMace(hereafterknownasthe"ThornburyMace")byBenjaminPyne, London
(around1700)andvaluedin2022at£60,000.ThisassethasbeenonloantotheBristolMuseumfordisplaypurposes since
1967 with periodic extensions of the loan. Preservation of the Mace is managed by the museum.
AllheritageassetsotherthanthemacearekeptinanoldwoodenchestintheTownCouncilChamberandcheckedat least
once a year when they are on display.
All heritage assets are reviewed annually for impairment.
continued...
Page 9
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES - continued
Investment property
Investmentpropertyisshownatmostrecentvaluation.Anyaggregatesurplusordeficitarisingfromchangesinfairvalue is
recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.Restrictionsarise when
specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentalspaid underoperatingleasesare chargedto the Statementof FinancialActivitieson a straightline basisoverthe period
of the lease.
Donated goods and services
Donated goods, facilities and services are recognised as income when the following
criteria are met:
- Entitlement - control over the expected economic benefits that flow from the donation
has passed to the charity and any performance-related conditions attached to the
donation have been fully met.
Probable - it is more likely than not that the economic benefits associated with the donated item will flow to the charity.
- Measurement - the fair value or value to the charity of the donated item can be
measured reliably.
2. INVESTMENT INCOME
Rental Income -34 High Street
Deposit account interest
CAIF Accumulation Units
(Sinking Fund)
CAIF Accumulation Units
(Extraordinary Repair Fund)
Interest receivable - trading |
Unrestricted
funds
£
22,875
18
6,745
-
-
29,638 |
Restricted
funds
£
-
-
-
7,401
2,114
9,515 |
Endowment
funds
£
-
-
-
-
-
- |
31.12.22
Total
funds
£
22,875
18
6,745
7,401
2,114
39,153 |
31.12.21
Total
funds
£
22,875
1
3,998
5,273
- |
|
|
|
|
|
32,147 |
Other than the following amounts, all balances and residual amounts were unrestricted:
CAIF Accumulation Units (Extraordinary Repair Fund) - Restricted £7,401 (2021 - £5,273)
continued...
Page 10
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
3. SUPPORT COSTS
SUPPORT COSTS |
|
|
|
|
|
Governance |
|
|
Management |
costs |
Totals |
|
£ |
£ |
£ |
Other resources expended |
8,985 |
2,070 |
11,055 |
Other than the following amounts, all balances and residual amounts were unrestricted:
Other resources expended - £9,253 (2021 - £8,546)
All balances and residual amounts for the current and comparative period were unrestricted.
Support costs, included in the above, are as follows:
Support costs, included in the above, are as follows: |
|
|
|
31.12.22 |
31.12.21 |
|
Other |
|
|
resources |
Total |
|
expended |
activities |
|
£ |
£ |
Clerk |
8,301 |
7,137 |
Other operating leases |
71 |
91 |
Advertising |
- |
179 |
Sundries |
613 |
190 |
Legal and professional fees |
258 |
477 |
Accountancy |
1,812 |
1,512 |
|
11,055 |
9,586 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2022norfortheyear ended
31 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
Endowment
£
£
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Millard House Almshouses
8,572
-
-
Investment income
26,874
5,273
-
Other income
5,386
-
-
Total
40,832
5,273
-
EXPENDITURE ON
Raising funds
1,321
-
-
Charitable activities
Xmas community support
11,820
-
-
Miscellaneous Donations
13,107
-
-
Nursing Home Fees
3,600
-
- |
Total
funds
£
8,572
32,147
5,386 |
|
46,105 |
|
1,321
11,820
13,107
3,600 |
continued...
Page 11
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
£
Other
22,007
Total
51,855
Net gains on investments
34,748
NET INCOME
23,725
Transfers between funds
(3,530)
Net movement in funds
20,195
RECONCILIATION OF FUNDS
Total funds brought forward
675,788
TOTAL FUNDS CARRIED FORWARD
695,983
6.
TANGIBLE FIXED ASSETS
COST
At 1 January 2022
Additions
At 31 December 2022
DEPRECIATION
At 1 January 2022
Charge for year
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021 |
Restricted
£
6,305
6,305
24,464
23,432
3,530
26,962
257,979
284,941
Freehold
property
£
200,000
-
200,000
-
4,000
4,000
196,000
200,000 |
Endowment
£
-
-
3,500
3,500
-
3,500
31,500
35,000
Fixtures
and
fittings
£
2,741
7,558
10,299
136
1,184
1,320
8,979
2,605 |
Total
funds
£
28,312
58,160
62,712
50,657
-
50,657
965,267
1,015,924
Totals
£
202,741
7,558
210,299
136
5,184
5,320
204,979
202,605 |
Total
funds
£
28,312 |
|
|
|
|
58,160 |
|
|
|
|
62,712 |
|
|
|
|
50,657
- |
|
|
|
|
50,657
965,267 |
continued...
Page 12
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
7. HERITAGE ASSETS
HERITAGE ASSETS |
|
MARKET VALUE
At 1 January 2022 and 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021 |
Total
£
5,000 |
|
5,000 |
|
5,000 |
Thescheduleofpropertyownedby ThornburyTownTrust,nowheldin ThornburyTownHallconsistsofmetalscales, weights
and measures and two staves in a chest. These items have little current value.
The Heritage Assets on the charity's fixed asset balance sheet
Number |
Asset |
Valuation |
Valuation date |
|
Parcel Gilt Mace by Benjamin Pyne acquired as a donation. To be |
|
|
1 |
revalued at each loan extension. |
£60,000 |
April 2022 |
There have been no acquisitionsor disposalsof the Trust'sheritage assets in the last 7 years. The ThornburyMace was revalued
in April 2022 and has increased in value by £10,000 since 2010.
|
31.12.2022
31.12.2021 |
31.12.2020 |
31.12.2019 |
31.12.2018 |
|
£
£ |
£ |
£ |
£ |
Carrying amount brought
forward |
5,000
5,000 |
5,000 |
5,000 |
5,000 |
Additions at cost or value of
donated item |
-
- |
- |
- |
- |
Disposals |
-
- |
- |
- |
- |
Impairment |
-
- |
- |
- |
- |
|
|
|
|
|
Carrying amount carried
forward |
5,000
5,000 |
5,000 |
5,000 |
5,000 |
|
|
|
|
|
Carrying amounts for each asset:
Silver mace - £5,000
Metal scales, weights and measures - £nil
Two staves - £nil
Chest - £nil
continued...
Page 13
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
8. INVESTMENT PROPERTY
FAIR VALUE
At 1 January 2022
Revaluation
At 31 December 2022
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
Fair value at 31 December 2022 is represented by:
Valuation in 2019
Valuation in 2020
Valuation in 2021
Valuation in 2022
Cost |
£
326,500
(21,500) |
|
305,000 |
|
305,000 |
|
326,500 |
|
£
75,000
(18,500)
20,000
(21,500)
250,000 |
|
305,000 |
The propertiesare valuedto an openmarketvalueby the trustees,withsufficientregularityto ensurethatthe carrying values
are a fair representation of their market value.
Avaluationbyavaluerwithrelevantprofessionalqualificationsandrecentexperienceinthelocationandclassof properties
has not been sought.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Trade debtors |
- |
32 |
Prepayments |
1,390 |
1,251 |
|
1,390 |
1,283 |
CURRENT ASSET INVESTMENTS |
|
|
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Listed investments |
438,449 |
444,815 |
continued...
Page 14
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
10. CURRENT ASSET INVESTMENTS - continued
|
Trust
Investments |
Restricted
Extraordinary
repairs funds |
Total31.12.22 |
Total31.12.21 |
|
£ |
£ |
£ |
£ |
Market value as at 1 January 2022 |
189,295 |
255,519 |
444,813 |
407,301 |
Additions |
- |
2,196 |
2,196 |
- |
Disposals |
10,000 |
2,186 |
12,186 |
15,000 |
Income reinvested |
6,745 |
9,515 |
16,260 |
9,800 |
Net investment (losses)/gains |
(5,147) |
(7,488) |
(12,635) |
42,712 |
|
|
|
|
|
Market value as at 31 December 2022 |
180,893 |
257,556 |
438,449 |
444,813 |
|
|
|
|
|
The investments held are shown at an open market value of commonly traded shares and units.
The valuation of the investments is carried out by the investment managers, CAIF and M&G.
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
|
31.12.22 |
31.12.21 |
|
£ |
£ |
Other creditors |
1,625 |
1,625 |
Accruals and deferred income |
243 |
243 |
Accrued expenses |
2,006 |
1,200 |
|
3,874 |
3,068 |
12. MOVEMENT IN FUNDS
Unrestricted funds
Unrestricted funds
Restricted funds
Extraordinary repair fund
Silver Mace
Endowment funds
Daggs Allotment
TOTAL FUNDS |
At 1.1.22
£
695,983
279,941
5,000
284,941
35,000
1,015,924 |
Net
movement
in funds
£
(4,858)
(2,053)
-
(2,053)
(21,500)
(28,411) |
Transfers
between
funds
£
(5,602)
5,602
-
5,602
-
- |
At
31.12.22
£
685,523
283,490
5,000 |
|
|
|
|
288,490
13,500 |
|
|
|
|
987,513 |
continued...
Page 15
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Unrestricted funds
Unrestricted funds
Restricted funds
Extraordinary repair fund
Endowment funds
Daggs Allotment
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
Unrestricted funds
Restricted funds
Extraordinary repair fund
Silver Mace
Endowment funds
Daggs Allotment
TOTAL FUNDS
Comparative net movement in funds, included in the above
Unrestricted funds
Unrestricted funds
Restricted funds
Extraordinary repair fund
Endowment funds
Daggs Allotment
TOTAL FUNDS |
Incoming
Resources
resources
expended
£
£
48,852
(48,563)
9,515
(4,079)
-
-
58,367
(52,642)
Net
movement
At 1.1.21
in funds
£
£
675,788
23,725
252,979
23,432
5,000
-
257,979
23,432
31,500
3,500
965,267
50,657
are as follows:
Incoming
Resources
resources
expended
£
£
40,832
(51,855)
5,273
(6,305)
-
-
46,105
(58,160) |
Gains and
Movement
losses
in funds
£
£
(5,147)
(4,858)
(7,489)
(2,053)
(21,500)
(21,500)
(34,136)
(28,411)
Transfers
between
At
funds
31.12.21
£
£
(3,530)
695,983
3,530
279,941
-
5,000
3,530
284,941
-
35,000
-
1,015,924
Gains and
Movement
losses
in funds
£
£
34,748
23,725
24,464
23,432
3,500
3,500
62,712
50,657 |
|
|
|
continued...
Page 16
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2022
12. MOVEMENT IN FUNDS - continued
The unrestrictedfunds reflectfunds receivedand held with no specificdirectionof applicationmade by the donors,other than
within the general objectives of the charity.
TherestrictedExtraordinaryrepairfundincludesfundscontributedspecificallytowardsthe repairsand upkeepofthe charity's
properties.
The endowment fund includes funds includes the Daggs allotments which is to be kept to aid the poor of the borough.
Transfers between funds
Duringtheperiod,transferstookplacebetweenthefunds.Thesetransfersreflecttheadditionalfundstransferredinto the
Extraordinary repair fund in 2022.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
Page 17
Thornbury Consolidated Charities
Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
for the Year Ended 31 December 2022 |
|
|
|
|
|
|
|
|
|
31.12.22 |
31.12.21 |
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
funds |
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
|
|
|
Investment income |
|
|
|
|
|
Rental Income -34 High Street |
22,875 |
- |
- |
22,875 |
22,875 |
Deposit account interest |
18 |
- |
- |
18 |
1 |
CAIF Accumulation Units (Sinking |
|
|
|
|
|
Fund) |
6,745 |
- |
- |
6,745 |
3,998 |
CAIF Accumulation Units |
|
|
|
|
|
(Extraordinary Repair Fund) |
- |
7,401 |
- |
7,401 |
5,273 |
Interest receivable - trading |
- |
2,114 |
- |
2,114 |
- |
|
29,638 |
9,515 |
- |
39,153 |
32,147 |
Charitable activities |
|
|
|
|
|
Rents received from Millard House |
|
|
|
|
|
Almshouses |
17,590 |
- |
- |
17,590 |
8,572 |
Other income |
|
|
|
|
|
Rents received from Daggs |
|
|
|
|
|
Allotments |
- |
- |
- |
- |
2,992 |
Sundry income |
1,624 |
- |
- |
1,624 |
2,394 |
|
1,624 |
- |
- |
1,624 |
5,386 |
Total incoming resources |
48,852 |
9,515 |
- |
58,367 |
46,105 |
EXPENDITURE |
|
|
|
|
|
Raising donations and legacies |
|
|
|
|
|
Insurance |
563 |
- |
- |
563 |
26 |
Maintenance |
802 |
- |
- |
802 |
1,295 |
|
1,365 |
- |
- |
1,365 |
1,321 |
Charitable activities |
|
|
|
|
|
Grants to institutions |
4,625 |
- |
- |
4,625 |
3,000 |
Grants to individuals |
21,772 |
- |
- |
21,772 |
25,527 |
|
26,397 |
- |
- |
26,397 |
28,527 |
Other |
|
|
|
|
|
Repairs and insurance |
4,763 |
3,879 |
- |
8,642 |
18,590 |
Fixtures and fittings |
1,183 |
- |
- |
1,183 |
136 |
|
5,946 |
3,879 |
- |
9,825 |
18,726 |
Support costs |
|
|
|
|
|
Management |
|
|
|
|
|
Clerk |
8,301 |
- |
- |
8,301 |
7,137 |
Carried forward |
8,301 |
- |
- |
8,301 |
7,137 |
This page does not form part of the statutory financial statements
Page 18
Thornbury Consolidated Charities
Detailed Statement of Financial Activities
for the Year Ended 31 December 2022
Detailed Statement of Financial Activities
for the Year Ended 31 December 2022 |
|
|
|
|
|
|
|
|
|
31.12.22 |
31.12.21 |
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
funds |
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
£ |
Management |
|
|
|
|
|
Brought forward |
8,301 |
- |
- |
8,301 |
7,137 |
Other operating leases |
71 |
- |
- |
71 |
91 |
Advertising |
- |
- |
- |
- |
179 |
Sundries |
613 |
- |
- |
613 |
190 |
|
8,985 |
- |
- |
8,985 |
7,597 |
Governance costs |
|
|
|
|
|
Legal and professional fees |
58 |
200 |
- |
258 |
477 |
Accountancy |
1,812 |
- |
- |
1,812 |
1,512 |
|
1,870 |
200 |
- |
2,070 |
1,989 |
Total resources expended |
44,563 |
4,079 |
- |
48,642 |
58,160 |
Net income/(expenditure) before |
|
|
|
|
|
gains and losses |
4,289 |
5,436 |
- |
9,725 |
(12,055) |
Realised recognised gains and losses |
|
|
|
|
|
Realised gains/(losses) on |
|
|
|
|
|
programme related investments |
(5,147) |
(7,489) |
- |
(12,636) |
42,712 |
Net (expenditure)/income |
(858) |
(2,053) |
- |
(2,911) |
30,657 |
This page does not form part of the statutory financial statements
Page 19