``` 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`**|| |---|---|---|---| |**`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 ```