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2023-12-31-accounts

REGISTERED CHARITY NUMBER: 238273

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

Thornbury Consolidated Charities

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Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY
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Thornbury Consolidated Charities

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Contents of the Financial Statements
for the Year Ended 31 December 2023
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Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 16
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Thornbury Consolidated Charities

Reference and Administrative Details

for the Year Ended 31 December 2023

TRUSTEES P M Morrish
T Ray Chair
C Parkinson
T Pearce
P A Belbin (appointed 31.3.23)
A C Symonds
C J Davies
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
United Kingdom
BS32 4JY
BANKERS The Co-operative Bank - Business
PO Box 250
Skelmersdale
WN8 6WT

Page 1

Thornbury Consolidated Charities

Report of the Trustees

for the Year Ended 31 December 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

It should be noted that a new Trustee Mrs Peggy Belbin was appointed to the Trust in March 2023 following an open recruitment process to replace Mrs Margaret Powell when her term of appointment expired.

OBJECTIVES AND ACTIVITIES

Objectives of the charity

The objects of the charity, as contained in the Declaration of Trust are:

a) The provision of Almshouses for poor aged widowers, widows or other single persons of good character who are resident in the area of benefit, Thornbury.

b) The provision of relief of persons in need resident in the parish of Thornbury.

Significant activities

The main activities of the charity continue to be in the area of support for the residents of the parish of Thornbury who fit our criteria for relief in need.

The trustees believe that the activities described above are for the public benefit, through the support of those in need in the area of Thornbury.

Public benefit

The Trustees have had regard to the Charity Commission guidance on Public Benefit and to the need to report on its observance and delivery.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The Trustees met in person in five periodic meetings over the year.

The Trust continues to maintain the four Almshouses to a high standard. A new bathroom has been fitted in one of the properties, but sadly the standard door opening to the shower unit is too small for the occupant to use comfortably. An asbestos survey was conducted by Salvum who reported that the asbestos identified was all of low grade and requires management involving regular inspection but no disruptive removal. The residents were informed of the location of any asbestos found in their individual flats and communal areas. The Clerk and Trustees carried out weekly fire alarm tests as well as monthly emergency lighting, legionella, and fire door closer tests.

An application to the Valuation Office Agency has determined the equivalent fair rent is £125 per week; allowing a discount of 10%, for Nos. 33 and 34 the full charge for 3 years from 1st April 2024 will be £487.50 per month. In view of the fact that Nos 31 and 32 would face a very large increase to reach this level, a staged approach will be implemented.

The planned maintenance for 34 High Street was again delayed when the ground floor tenant indicated that they may move away from Thornbury, the programme of maintenance was therefore delayed until the property becomes vacant.

The Trust supported 89 individuals at Christmas time who fit the Trust's criteria for help within the parish. This help was maintained at £130 per person and the cash was delivered by hand by the Trustees and signature obtained from each beneficiary to confirm receipt. A total of £11,570 was provided under this category and in addition a grant of £150 was made to the individual who maintains the allotment's hedges and grassy paths.

The Trust also supported six local groups and organisations at Christmas with grants ranging from £175 to £550. A total of £1,450 was provided under this category. Two organisations providing advice on debt management were advised that the Christmas distribution was inappropriate and applications for support should be requested through the normal route.

The charity considered a number of applications for support from individuals in financial difficulties and approved grants for the purchase of furniture, white goods, and many other basic items as well as helping with debt relief. In all, 26 households received grant support of £10,629 in total.

Page 2

Thornbury Consolidated Charities

Report of the Trustees

for the Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE

Property and Investments

The Thornbury Deli and Barcan + Kirby continued to be tenants throughout the year at 34 High Street.

The Thornbury Deli have indicated that they may be leaving Thornbury to set up nearer the area where they do most of their trade. The likely timetable suggests the ground floor of the property may become vacant in the early summer of 2024. Barcan + Kirby continue to occupy the first floor, it is noted that their lease will expire in April 2025.

Daggs Allotments continued to provide a source of joy for plot holders. As the majority of plot holders had now reached their new rate following the introduction of a new fee scale in 2019, fees were reviewed and increased by 10% in September 2023. At the end of December 2023 there were 22 people on the waiting list for a plot. The situation at the end of 2023 concerning the homeless person has been resolved, at least temporarily, as he has been admitted to hospital with a medical issue.

The Trust's investments are held in the M&G Charity Multi Asset Fund. Over the year 2023 the fund increased in value by 6.3% compared to a benchmark increase of 10.2%. The Trustees have formed an Investments sub-committee and have held a number of meetings with Rathbones to consider the future of the Trust's investments.

FINANCIAL REVIEW

Financial position

At the balance sheet date, the charity had the following key totals.

Gross assets held at year end totalled £1,025,795 (2022; £991,387). This is inclusive of fixed asset investments totalling £538,309 (2022; £514,979).

Net current assets at year end totalled £480,682 (2022; £472,534). After excluding restricted funds of £299,386 (2022; £288,490) there is 'free' reserves of £181,296 (2022; £184,044).

Total net assets at year end totalled £1,018,991 (2022; 987,513).

The majority of these movements result from the Trust's decision to move considerable funds from 'free' to 'restricted' funds to ensure future building maintenance programmes can be properly funded.

Investment Powers & Policy

The Trustees have the same full and unrestricted powers of investing and transposing investments in all respects as if they were absolutely and beneficially entitled thereto.

The Trustees intend the real value of the charity's assets to be maintained over the long term by investment in a portfolio of equities, fixed income stocks and cash deposits. Consistent with this objective, the Trustees wish to obtain dividend and interest income from the portfolio each year to contribute towards the purposes of the society. A fund which is able to select the investment from a wide spectrum of assets should, it is hoped, provide a better return than a fund, such as M&G, which is restricted to investment in its own 'House' funds. The member of the board of The Trustees with considerable experience in portfolio management has recommended Rathbones to manage the Trust's investments. The Trust has set up an investments sub-committee to manage the Trust's investment in consultation with Rathbones. The Questionnaire completed for Rathbones by the three trustees has produced a remarkable coherence in the attitude to risk to guide the selection of asset.

Reserves

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets ("the free reserves") held by the charity should be between twice and four times the average of the last three years expenditure. At this level the Trustees feel that they would be able to continue the current activities of the organisation in the event of a significant drop in funding. If this occurred it would be necessary to consider how the funding would be replaced or activities changed accordingly. The charity is now becoming more widely known in the local community and requests for grants are regularly received from various agencies as well as individuals.

The average expenditure over the past three years (2021 to 2023) was £54,691. The free reserves as detailed in the Financial Position section above is £181,296 which reflects 3.3 times the average expenditure.

Page 3

Thornbury Consolidated Charities

Report of the Trustees

for the Year Ended 31 December 2023

REVIEW OF FUTURE DEVELOPMENTS

In 2023, the Trust continued to work with and develop relations with housing agencies, debt advice agencies and the local council - many of the grants made in 2023 were as a result of referrals from these agencies. Applications from these agencies can be expected to grow in the next year as the Trust prefers to receive application from housing specialists rather than a self-penned application which may be short on facts.

There continue to be several major maintenance items that will take place in 2024 mainly as a result of the extensive quinquennial review of the Trust's properties and the refurbishment of the commercial property when the current lease holders vacate the premises.

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

Three trustees are nominated by Thornbury Town Council, these trustees serve for a term of four years. Four trustees who 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

Mrs Sally Bertram continues in the role of Clerk to the Trust. She continues to develop close working relationships with the Trustees, tenants at Millard House and 34 High Street, and the plot holders at Daggs Allotments, as well as efficiently managing the day-to-day handling of the Trust's meetings, accounts, objectives and applications for support with impressive competence. Sadly, Mrs Bertram suffered a long period of illness in a parent and eventually bereavement; in this period, she carried the 3 roles of carer, parent, and Trust clerk to a high standard, with energy, skill and compassion.

Risk review

The Trustees carried out an annual review of the risks faced and the procedures established to manage those risks. Internal risks are minimised by the implementation of effective control procedures, which ensure both appropriate authorisation of all transactions and projects and consistent quality of delivery for all operational aspects of the charity. The Risk Management procedures and the Financial Control policy were reviewed in June 2023 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

The Thornbury Mace (1700) by Benjamine Pyne remains at Bristol Museum on permanent loan, and a chest containing market relics Including Historic scales, certified weights and staves continue to be held in Thornbury Town Hall. 11/06/2024

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................................. Trustee Terry Ray

Page 4

Independent Examiner's Report to the Trustees of Thornbury Consolidated Charities

Independent examiner's report to the trustees of Thornbury Consolidated Charities

I report to the charity trustees on my examination of the accounts of Thornbury Consolidated Charities (the Trust) for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out 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

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:

  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 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.

Matthew Dobbins FCA

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol United Kingdom BS32 4JY

11/06/2024 Date: .............................................

Page 5

Thornbury Consolidated Charities

Statement of Financial Activities

for the Year Ended 31 December 2023

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
Depreciation of freehold property
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
£
15,176
3,671
30,346
702
49,895
1,339
13,770
10,629
4,000
28,412
58,150
11,684
3,429
(8,472)
(5,043)
685,523
680,480		 Restricted
£
-
-
10,467
-
10,467
-
-
-
-
3,181
3,181
5,763
13,049
8,472
21,521
288,490
310,011		 Endowment
£
-
-
-
-
-
-
-
-
-
-
-
15,000
15,000
-
15,000
13,500
28,500		 31.12.23
Total
funds
£
15,176
3,671
40,813
702
60,362
1,339
13,770
10,629
4,000
31,593
61,331
32,447
31,478
-
31,478
987,513
1,018,991		 31.12.22
Total
funds
£
14,396
3,194
39,153
1,624
58,367
1,365
14,235
12,162
4,000
20,880
52,642
(12,636)
(6,911)
-
(6,911)
994,424
987,513

The notes form part of these financial statements

Page 6

Thornbury Consolidated Charities

Balance Sheet

31 December 2023

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
£
199,184
-
300,000
499,184
691
169,971
17,438
188,100
(6,804)
181,296
680,480
680,480		 Restricted
£
5,625
5,000
-
10,625
-
276,241
23,145
299,386
-
299,386
310,011
310,011		 Endowment
£
-
-
28,500
28,500
-
-
-
-
-
-
28,500
28,500		 31.12.23
Total
funds
£
204,809
5,000
328,500
538,309
691
446,212
40,583
487,486
(6,804)
480,682
1,018,991
1,018,991
680,480
310,011
28,500
1,018,991		 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

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Trustee

The notes form part of these financial statements

Page 7

Thornbury Consolidated Charities

Notes to the Financial Statements

for the Year Ended 31 December 2023

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but 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

Heritage assets are held at historical cost or fair value at the time of donation. Depreciation has been considered for 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

For all other heritage assets depreciation is provided at the following annual rates in order to write off each asset over 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.

Visits to the box of weights can be arranged through the Thornbury Town Clerk at the Town Hall; the Thornbury Mace can be viewed during opening hours in the Silver Room at the Bristol Museum.

Thornbury Town Trust also owns a Parcel Gilt Mace (hereafter known as the "Thornbury Mace") by Benjamin Pyne, London (around 1700) and valued in 2022 at £60,000. This asset has been on loan to the Bristol Museum for display purposes since 1967 with periodic extensions of the loan. Preservation of the Mace is managed by the museum.

All heritage assets other than the mace are kept in an old wooden chest in the Town Council Chamber and checked at least once a year when they are on display.

All heritage assets are reviewed annually for impairment.

Page 8

continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

  1. ACCOUNTING POLICIES - continued

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value 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.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise 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

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Donated goods and services

Donated goods, facilities and services are recognised as income when the following

2.

INVESTMENT INCOME

INVESTMENT INCOME
Rental Income -34 High Street
Deposit account interest
M&G Accumulation Units
(Recoupment Fund)
M&G Accumulation Units
(Extraordinary Repair Fund)
Interest receivable - trading		 Unrestricted
funds
£
23,375
78
6,893
-
-
30,346		 Restricted
funds
£
-
-
-
8,144
2,323
10,467		 Endowment
funds
£
-
-
-
-
-
-		 31.12.23
Total
funds
£
23,375
78
6,893
8,144
2,323
40,813		 31.12.22
Total
funds
£
22,875
18
6,745
7,401
2,114
39,153

Other than the following amounts, all balances and residual amounts were unrestricted: M&G Accumulation Units (Extraordinary Repair Fund) - Restricted £8,144 (2022 - £7,401).

Page 9

continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

  1. SUPPORT COSTS
SUPPORT COSTS
Governance
Management
costs
£
£
Other resources expended
10,135
5,479
Depreciation of freehold property
-
4,000
10,135
9,479
Other than the following amounts, all balances and residual amounts were unrestricted:
Other resources expended - £15,614 (2022 - £9,253)		 Totals
£
15,614
4,000
19,614

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:
31.12.23 31.12.22
Depreciation
Other of
resources freehold Total Total
expended property activities activities
£ £ £ £
Clerk 9,250 - 9,250 8,301
Room hire 38 - 38 71
Sundries 847 - 847 613
Depr of freehold property - 4,000 4,000 4,000
Legal and professional fees 3,679 - 3,679 258
Accountancy 1,800 - 1,800 1,812
15,614 4,000 19,614 15,055
  1. TRUSTEES' REMUNERATION AND BENEFITS There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

  1. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Charitable activities
Millard House Almshouses
Daggs Allotments
Investment income
Other income
Total
EXPENDITURE ON
Raising funds		 Unrestricted
£
14,396
3,194
29,638
1,624
48,852
1,365		 Restricted
£
-
-
9,515
-
9,515
-		 Endowment
£
-
-
-
-
-
-		 Total
funds
£
14,396
3,194
39,153
1,624
58,367
1,365

Page 10

continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
£
Charitable activities
Xmas community support
14,235
Miscellaneous Donations
12,162
Depreciation of freehold property
4,000
Other
16,801
Total
48,563
Net gains/(losses) on investments
(5,147)
NET INCOME/(EXPENDITURE)
(4,858)
Transfers between funds
(5,602)
Net movement in funds
(10,460)
RECONCILIATION OF FUNDS
Total funds brought forward
695,983
TOTAL FUNDS CARRIED FORWARD
685,523
6.
TANGIBLE FIXED ASSETS
COST
At 1 January 2023
Additions
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Restricted
£
-
-
-
4,079
4,079
(7,489)
(2,053)
5,602
3,549
284,941
288,490
Freehold
property
£
200,000
-
200,000
4,000
4,000
8,000
192,000
196,000		 Endowment
£
-
-
-
-
-
-
-
-
-
13,500
13,500
Fixtures
and
fittings
£
10,299
6,250
16,549
1,320
2,420
3,740
12,809
8,979		 Total
funds
£
14,235
12,162
4,000
20,880
52,642
(12,636)
(6,911)
-
(6,911)
994,424
987,513
Totals
£
210,299
6,250
216,549
5,320
6,420
11,740
204,809
204,979

Page 11

continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

7.
HERITAGE ASSETS
MARKET VALUE
At 1 January 2023 and 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Total
£
5,000
5,000
5,000

The schedule of property owned by Thornbury Town Trust, now held in Thornbury Town Hall consists of metal scales, 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 acquisitions or disposals of the Trust's heritage assets in the last 7 years. The Thornbury Mace was revalued in April 2022 and has increased in value by £10,000 since 2010.

31.12.2023
31.12.2022		 31.12.2021 31.12.2020 31.12.2019
£
£		 £ £ £
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

Page 12

continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

8. INVESTMENT PROPERTY

FAIR VALUE
At 1 January 2023
Revaluation
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
Fair value at 31 December 2023 is represented by:
Valuation in 2019
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Cost		 £
305,000
23,500
328,500
328,500
305,000
£
75,000
(18,500)
20,000
(21,500)
23,500
250,000
328,500

The properties are valued to an open market value by the trustees, with sufficient regularity to ensure that the carrying values are a fair representation of their market value.

A valuation by a valuer with relevant professional qualifications and recent experience in the location and class of properties has not been sought.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Prepayments
10.
CURRENT ASSET INVESTMENTS
Listed investments
Market value as at 1 January 2023
Additions
Disposals
Income reinvested
Net investment (losses)/gains
Market value as at 31 December 2023		 31.12.23
£
691
31.12.23
£
446,212		 31.12.22
£
1,390
31.12.22
£
438,449
Trust
Investments		 Restricted
Extraordinary
repairs funds		 Total31.12.23 Total31.12.22
£ £ £ £
180,893 257,556 438,449 444,813
- 2,456 2,456 2,196
21,000 - 21,000 12,186
6,893 10,467 17,360 16,260
3,184 5,762 8,946 (12,635)
169,970 276,241 446,211 438,449

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, M&G.

Page 13

continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£ £
Other creditors 1,625 1,625
Accruals and deferred income 243 243
Accrued expenses 4,936 2,006
6,804 3,874
12. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.23 in funds funds 31.12.23
£ £ £ £
Unrestricted funds
Unrestricted funds 685,523 3,429 (8,472) 680,480
Restricted funds
Extraordinary repair fund 283,490 13,049 8,472 305,011
Silver Mace 5,000 - - 5,000
288,490 13,049 8,472 310,011
Endowment funds
Daggs Allotment 13,500 15,000 - 28,500
TOTAL FUNDS 987,513 31,478 - 1,018,991
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
Unrestricted funds 49,895 (58,150) 11,684 3,429
Restricted funds
Extraordinary repair fund 10,467 (3,181) 5,763 13,049
Endowment funds
Daggs Allotment - - 15,000 15,000
TOTAL FUNDS 60,362 (61,331) 32,447 31,478

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continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.1.22
in funds
£
£
Unrestricted funds
Unrestricted funds
695,983
(4,858)
Restricted funds
Extraordinary repair fund
279,941
(2,053)
Silver Mace
5,000
-
284,941
(2,053)
Endowment funds
Daggs Allotment
13,500
-
TOTAL FUNDS
994,424
(6,911)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
Unrestricted funds
48,852
(48,563)
Restricted funds
Extraordinary repair fund
9,515
(4,079)
TOTAL FUNDS
58,367
(52,642)		 Transfers
between
At
funds
31.12.22
£
£
(5,602)
685,523
5,602
283,490
-
5,000
5,602
288,490
-
13,500
-
987,513
Gains and
Movement
losses
in funds
£
£
(5,147)
(4,858)
(7,489)
(2,053)
(12,636)
(6,911)

The unrestricted funds reflect funds received and held with no specific direction of application made by the donors, other than within the general objectives of the charity.

The restricted Extraordinary repair fund includes funds contributed specifically towards the repairs and upkeep of the 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

During the period, transfers took place between the funds. These transfers reflect the additional funds transferred into the Extraordinary repair fund in 2023.

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continued...

Thornbury Consolidated Charities

Notes to the Financial Statements - continued

for the Year Ended 31 December 2023

  1. RELATED PARTY DISCLOSURES

Page 16