REGISTERED CHARITY NUMBER: 238273
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2024
for
Thornbury Consolidated Charities
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY
Thornbury Consolidated Charities
Contents of the Financial Statements
for the Year Ended 31 December 2024
|
|
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 |
Detailed Statement of Financial Activities |
17 |
to |
18 |
Thornbury Consolidated Charities
Reference and Administrative Details
for the Year Ended 31 December 2024
TRUSTEES |
P M Morrish |
|
T Ray Chair (resigned 25.4.25) |
|
C Parkinson (resigned 28.6.24) |
|
T Pearce |
|
P A Belbin |
|
A C Symonds |
|
C J Davies |
|
F M L Deas (appointed 28.6.24) |
|
I J Dibble (appointed 16.5.25) |
PRINCIPAL ADDRESS |
Thornbury Town Trust, c/o Town Hall |
|
35 High Street |
|
Thornbury |
|
Bristol |
|
South Glos |
|
BS35 2AR |
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
for the Year Ended 31 December 2024
Report of the Trustees
Thetrusteespresenttheirreportwiththe financialstatementsofthe charityforthe yearended31 December2024.Thetrustees have
adoptedthe provisionsof Accountingand Reportingby Charities:Statementof RecommendedPracticeapplicableto charities preparing
theiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January2019).ItshouldbenotedthatanewTrusteeMrsFionaDeaswasappointedtotheTrustinJune2024asa council
representative, in place of Clive Parkinson, whose tenure had come to an end.
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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trusteesmet in personin five periodicmeetingsoverthe year,as well as the AGM and a specialmeetingcalledin Marchto discuss
the futureof 34 High Street,witha furtherspecialmeetingof the 34 High Streetsub-committeein August,to discussthe progress with
the letting of the premises.
TheTrustrecordsan"immensedebttoCliveParkinson",whoservedasaTrusteefor20yearsandduringthattimeguidedthe Trust
with great knowledge and experience.
TheTrustcontinuestomaintainthefourAlmshousestoahighstandard.Sadly,along-standingtenantat31MillardHousehas been
unabletocontinuetooccupyherflatbecauseofill-health.Followingaseriesoflocaladvertisements,aqualifiedapplicant was
interviewed and appointed as a beneficiary in November. The new resident is delighted with the accommodation and is settling in well.
TheClerkandTrusteescontinuetocarryoutweeklyfirealarmtestsaswellasmonthlyemergencylighting,legionella,andfire door
closertests.TheCCTVrecordingmemorychipsarechangedmonthlyandwipedcleanafterafurthertwoweeks.Thewindows were
becomingunreliablesowerereplacedwithnew.Itwasagreedtoremovethemajorityofasbestosfoundin theflats,withjusta small
amount remaining in some floor tiles; this can be managed internally as long as it is encapsulated by being covered with carpet or vinyl.
TheTrustsupported95 individualsat Christmastimewhofitthe Trust'scriteriaforhelpwithinthe parish.Thishelpwasmaintained at
£130 per person and the cash was deliveredby hand by the Trusteesand signatureobtainedfrom each beneficiaryto confirmreceipt. A
totalof£12,350wasprovidedunderthiscategoryandinadditionagrantof£150wasmadetotheindividualwhomaintains the
allotment's hedges and grassy paths.
The Trust also supportedeight local groups and organisationsat Christmaswith grants ranging from £175 to £550. A total of £1,255 was
provided under this category.
Thecharityconsideredanumberofapplicationsforsupportfromindividualsinfinancialdifficultiesandapprovedgrantsfor the
purchaseoffurniture,whitegoods,and manyotherbasicitemsas wellas helpingwithdebtrelief.In all,29 householdsreceived grant
support of £10,489 in total. First Step Debt Agency also received a grant of £750 towards their work in the community.
Page 2
Thornbury Consolidated Charities
for the Year Ended 31 December 2024
Report of the Trustees
ACHIEVEMENT AND PERFORMANCE
Property and Investments
Barcan+ Kirbycontinuedtobe tenantsthroughouttheyearat34HighStreet.Theirleaseisduetoexpirein April2025,butthey have
expressed a strong interest in staying as long as possible to tie in with their lease at 36 High Street.
TheThornburyDelileft34HighStreeton31stMay2024,leavingthegroundfloorandsmallupstairsofficevacant.Therehave been
almost20enquiriesforlettingtheproperty,butascheduleofworkspreparedbyWilliams-JonesBuildingSurveyorsindicates that
neededrefurbishmentofthepropertycouldcostsomewherebetween£50,000and£150,000.Trusteescontinuetolookat identifying
the best way forwardfor the propertyand consideredthree options1) to refurbishand relet 2) to let as seen and 3) to sell the property
and reinvest the sum raised. These considerations were still unresolved at the end of the year.
Daggs Allotmentscontinueto be verypopularand are alwaysfullysubscribedwitha healthywaitinglist.Fees were adjustedby a small
margin in September 2024 to ensure that Daggs continues to be fruitful in raising funds.
The withdrawalof the Trust'sinvestmentsfrom M&G to the managementof Rathboneswas completedin the year. There are two funds
heldbyRathbones.Thefirst,"TheRecoupmentFund",isregardedastheTrust'sfreereserves,butincludesthe34High Street
ExtraordinaryRepairFund(ERF)totalling£65,847.Thetotalfreereserveswasvaluedat£222,661on31stDecember,minus the
ringfencedamountsetasideforthe34HighStreetERF.ThesecondinvestmentfundistheMillardHouseExtraordinaryRepair Fund.
This was valued at £216,526 on 31st December.
FINANCIAL REVIEW
Financial position
At the balance sheet date, the charity had the following key totals.
Gross assets held at year end totalled£978,266(2023:£1,025,795).This is inclusiveof fixed asset investmentstotalling£503,669 (2023:
£538,309).
Netcurrentassetsatyear-endtotalled£470,437(2023:480,682).Afterexcludingrestrictedfundsof£308,099(2023:£299,386) there
are 'free' reserves of £160,450 (2023: £181,296).
Total net assets at year-end totalled £974,106 (2023: £1,018,991).
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 Trust.A fund which is able to select the investmentfrom a wide spectrum
ofassetsshould,itishoped,provideabetterreturnthanafund,suchasM&G,whichisrestrictedtoinvestmentinitsown 'House'
funds.Thememberofthe boardofTheTrusteeswithconsiderableexperiencein portfoliomanagementhas recommended Rathbones
tomanagetheTrust'sinvestments.TheTrusthassetupaninvestmentssub-committeetomanagetheTrust'sinvestment in
consultationwithRathbones.TheQuestionnairecompletedforRathbonesby the threetrusteeshas produceda remarkable coherence
in the attitude to risk to guide the selection of asset.
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 (2022 to 2024) was £63,012.
The free reserves as detailed in the Financial Position section above is £160,450 which reflects 2.6 times the average expenditure.
Page 3
Thornbury Consolidated Charities
for the Year Ended 31 December 2024
Report of the Trustees
REVIEW OF FUTURE DEVELOPMENTS
In2024,theTrustcontinuedtoworkwithanddeveloprelationswithhousingagenciesanddebtadviceagencies.Manyofthe grants
made in 2024 were as a result of referrals from these agencies, while self -penned applications remained steady.
ThemajordevelopmentinthefuturefortheTrustisresolvingtheownershipof34HighStreet.TheTrusteeshaveworkedhard at
findingasolution,buttherearenocertaintiesinthepropertymarketandinternationalfactorshaveaffectedtheequityand bond
marketssoallthesimulationshaveaverylargemarginoferror,makingdecision-makingaveryfraughtproposition.The condition
reportalsoindicatesthat manyareascouldnot be inspectedso there is a large area of doubtregardingthe costof renovationseven in
the professional survey.
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.Shecontinuestodevelopcloseworkingrelationshipswiththe Trustees,
tenantsat MillardHouseand 34 High Street,and the plotholdersat Daggs Allotments.The amountof time Mrs Bertramcan devote to
TrustBusinessis nownearingthe limitand an importantconsiderationforthe futureof 34 HighSt is to createsomeleewaygiving Mrs
Bertramthetimetoefficientlymanagetheday-to-dayhandlingoftheTrust'smeetings,accounts,objectivesandapplications for
support.
Risk review
TheTrusteescarriedoutanannualreviewoftherisksfacedandtheproceduresestablishedtomanagethoserisks.Internalrisks are
minimisedbytheimplementationofeffectivecontrolprocedures,whichensurebothappropriateauthorisationofalltransactions and
projectsand consistentqualityof deliveryfor all operationalaspectsof the charity.The Risk Managementproceduresand the Financial
Control policy were reviewed in June 2024 for their continuing effectiveness.
The Trusteeswere contentthat they had sufficientfunds availablein its RathbonesinvestmententitledMillardHouse Emergency Repair
Fund(ERF)of£216,526,tocarryoutmajorstructuralrepairs.However,thefundssetasideformajorstructuralrepairstoNo34 High
Street (£65,848)may be insufficientif the conditionof the uninspectedareas noted in the HuthwaiteFrestonWilliams-Jonesreport turn
out to be closeto the top end of the estimatescalculatedin that report.Hence,the Trustees'uncertaintyon the future of the premises
at34HighStreetasweconsidertherentalincomeitproducesalongsidetheprojectmanagementandcoordinationofrepair and
refurbishment required in an old building sited in a conservation area.
HERITAGE ASSETS
TheThornburyMace(1700)byBenjaminePyneremainsatBristolMuseumonpermanentloan,andcabinetscontainingmarket relics
IncludingHistoricscales,certifiedweightsandstavescontinuetobeonpublicdisplayinThornburyTownHallfollowinga loan
agreement with Thornbury Museum.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................................
Trustee
Page 4
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 2024.
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
United Kingdom
BS32 4JY
Date: .............................................
Page 5
Thornbury Consolidated Charities
Statement of Financial Activities
for the Year Ended 31 December 2024
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
£
17,566
4,614
19,295
1,015
42,490
1,674
13,755
11,239
4,000
47,244
77,912
(24,143)
(59,565)
3,704
(55,861)
680,480
624,619 |
Restricted
£
-
-
4,952
-
4,952
-
-
-
-
2,848
2,848
11,076
13,180
(3,704)
9,476
310,011
319,487 |
Endowment
£
-
-
-
-
-
-
-
-
-
-
-
1,500
1,500
-
1,500
28,500
30,000 |
31.12.24
Total
funds
£
17,566
4,614
24,247
1,015
47,442
1,674
13,755
11,239
4,000
50,092
80,760
(11,567)
(44,885)
-
(44,885)
1,018,991
974,106 |
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 |
The notes form part of these financial statements
Page 6
Thornbury Consolidated Charities
Balance Sheet
31 December 2024
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
£
194,169
-
270,000
464,169
881
156,813
6,915
164,609
(4,159)
160,450
624,619
624,619 |
Restricted
£
4,500
5,000
-
9,500
-
282,374
27,613
309,987
-
309,987
319,487
319,487 |
Endowment
£
-
-
30,000
30,000
-
-
-
-
-
-
30,000
30,000 |
31.12.24
Total
funds
£
198,669
5,000
300,000
503,669
881
439,187
34,528
474,596
(4,159)
470,437
974,106
974,106
624,619
319,487
30,000
974,106 |
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 |
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon.............................................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 2024
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 8
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
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
M&G Accumulation Units
(Recoupment Fund)
M&G Accumulation Units
(Extraordinary Repair Fund)
Interest receivable - trading
Rathbones (Recoupment
fund) |
Unrestricted
funds
£
14,727
120
3,037
-
-
1,411
19,295 |
Restricted
funds
£
-
16
-
4,936
-
-
4,952 |
Endowment
funds
£
-
-
-
-
-
-
- |
31.12.24
Total
funds
£
14,727
136
3,037
4,936
-
1,411
24,247 |
31.12.23
Total
funds
£
23,375
78
6,893
8,144
2,323
- |
|
|
|
|
|
40,813 |
Other than the following amounts, all balances and residual amounts were unrestricted:
M&G Accumulation Units (Extraordinary Repair Fund) - Restricted £4,936 (2023 - £8,144).
continued...
Page 9
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
3. SUPPORT COSTS
Governance
Management
costs
£
£
Other resources expended
13,358
5,015
Depreciation of freehold property
-
4,000
13,358
9,015 |
Totals
£
18,373
4,000 |
|
22,373 |
Other than the following amounts, all balances and residual amounts were unrestricted:
Other resources expended - £18,373 (2023 - £15,614)
All balances and residual amounts for the current and comparative period were unrestricted.
Support costs, included in the above, are as follows:
|
|
|
31.12.24 |
31.12.23 |
|
|
Depreciation |
|
|
|
Other |
of |
|
|
|
resources |
freehold |
Total |
Total |
|
expended |
property |
activities |
activities |
|
£ |
£ |
£ |
£ |
Clerk |
12,971 |
- |
12,971 |
9,250 |
Room hire |
- |
- |
- |
38 |
Sundries |
387 |
- |
387 |
847 |
Depr of freehold property |
- |
4,000 |
4,000 |
4,000 |
Legal and professional fees |
2,975 |
- |
2,975 |
3,679 |
Accountancy |
2,040 |
- |
2,040 |
1,800 |
|
18,373 |
4,000 |
22,373 |
19,614 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norfortheyear ended
31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
Endowment
£
£
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Millard House Almshouses
15,176
-
-
Daggs Allotments
3,671
-
-
Investment income
30,346
10,467
-
Other income
702
-
-
Total
49,895
10,467
-
EXPENDITURE ON
Raising funds
1,339
-
- |
Total
funds
£
15,176
3,671
40,813
702 |
|
60,362 |
|
1,339 |
continued...
Page 10
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Charitable activities
Xmas community support
Miscellaneous Donations
Depreciation of freehold property
Other
Total
Net gains on investments
NET INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
6.
TANGIBLE FIXED ASSETS
COST
At 1 January 2024
Additions
At 31 December 2024
DEPRECIATION
At 1 January 2024
Charge for year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023 |
Unrestricted
£
13,770
10,629
4,000
28,412
58,150
11,684
3,429
(8,472)
(5,043)
685,523
680,480
Freehold
property
£
200,000
-
200,000
8,000
4,000
12,000
188,000
192,000 |
Restricted
Endowment
£
£
-
-
-
-
-
-
3,181
-
3,181
-
5,763
15,000
13,049
15,000
8,472
-
21,521
15,000
288,490
13,500
310,011
28,500
Fixtures
and
Computer
fittings
equipment
£
£
16,549
-
-
608
16,549
608
3,740
-
2,562
186
6,302
186
10,247
422
12,809
- |
Total
funds
£
13,770
10,629
4,000
31,593
61,331
32,447
31,478
-
31,478
987,513
1,018,991
Totals
£
216,549
608
217,157
11,740
6,748
18,488
198,669
204,809 |
Total
funds
£
13,770
10,629
4,000
31,593 |
|
|
|
|
61,331 |
|
|
|
|
32,447 |
|
|
|
|
31,478
- |
|
|
|
|
31,478
987,513 |
continued...
Page 11
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
7. HERITAGE ASSETS
HERITAGE ASSETS |
|
MARKET VALUE
At 1 January 2024 and 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023 |
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.
|
31.12.2024 |
31.12.2023
31.12.2022 |
31.12.2021 |
31.12.2020 |
|
£ |
£
£ |
£ |
£ |
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 12
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
8. INVESTMENT PROPERTY
FAIR VALUE
At 1 January 2024
Revaluation
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
Fair value at 31 December 2024 is represented by:
Valuation in 2019
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Valuation in 2024
Cost |
£
328,500
(28,500)
300,000
300,000
328,500
£
75,000
(18,500)
20,000
(21,500)
23,500
(28,500)
250,000
300,000 |
|
|
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
Prepayments
10.
CURRENT ASSET INVESTMENTS
Listed investments
Market value as at 1 January 2024
Additions
Disposals
Income reinvested
Net investment (losses)/gains
Market value as at 31 December 2024 |
|
|
|
31.12.24
£
881
31.12.24
£
439,187 |
|
31.12.23
£
691
31.12.23
£
446,212 |
|
Trust
Investments |
Restricted
Extraordinary
repairs funds |
|
Total31.12.24 |
|
Total31.12.23 |
|
£ |
£ |
|
£ |
|
£ |
|
169,970 |
276,241 |
|
446,211 |
|
438,449 |
|
- |
4,556 |
|
4,556 |
|
2,456 |
|
20,000 |
14,436 |
|
34,436 |
|
21,000 |
|
4,448 |
4,936 |
|
9,384 |
|
17,360 |
|
2,396 |
11,076 |
|
13,472 |
|
8,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
156,814 |
282,373 |
|
439,187 |
|
446,212 |
|
|
|
|
|
|
|
The investments held are shown at an open market value of commonly traded shares and units.
continued...
Page 13
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
10. CURRENT ASSET INVESTMENTS - continued
The valuation of the investments is carried out by the investment managers, Rathbones.
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Accruals and deferred income
Accrued expenses
MOVEMENT IN FUNDS
At 1.1.24
£
Unrestricted funds
Unrestricted funds
680,480
Restricted funds
Extraordinary repair fund
305,011
Silver Mace
5,000
310,011
Endowment funds
Daggs Allotment
28,500
TOTAL FUNDS
1,018,991
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Unrestricted funds
42,490
Restricted funds
Extraordinary repair fund
4,952
Endowment funds
Daggs Allotment
-
TOTAL FUNDS
47,442 |
Net
movement
in funds
£
(59,565)
13,180
-
13,180
1,500
(44,885)
Resources
expended
£
(77,912)
(2,848)
-
(80,760) |
31.12.24
£
1,625
330
2,204
4,159
Transfers
between
funds
£
3,704
(3,704)
-
(3,704)
-
-
Gains and
losses
£
(24,143)
11,076
1,500
(11,567) |
31.12.23
£
1,625
243
4,936
6,804
At
31.12.24
£
624,619
314,487
5,000
319,487
30,000
974,106
Movement
in funds
£
(59,565)
13,180
1,500
(44,885) |
|
|
|
|
12. MOVEMENT IN FUNDS
continued...
Page 14
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
Unrestricted funds
Restricted funds
Extraordinary repair fund
Silver Mace
Endowment funds
Daggs Allotment
TOTAL FUNDS |
Net
movement
At 1.1.23
in funds
£
£
685,523
3,429
283,490
13,049
5,000
-
288,490
13,049
13,500
15,000
987,513
31,478 |
Transfers
between
At
funds
31.12.23
£
£
(8,472)
680,480
8,472
305,011
-
5,000
8,472
310,011
-
28,500
-
1,018,991 |
|
|
|
Comparative 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 |
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 2024.
continued...
Page 15
Thornbury Consolidated Charities
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
13. RELATED PARTY DISCLOSURES
Thefollowingrelatedpartytransactionsoccuredduringthefinancialyearended31December2024.Therenoneinthe prior
year.
Page 16
Thornbury Consolidated Charities
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
for the Year Ended 31 December 2024 |
|
|
|
|
|
|
|
|
|
31.12.24 |
31.12.23 |
|
Unrestricted |
Restricted |
Endowment |
Total |
Total |
|
funds |
funds |
funds |
funds |
funds |
|
£ |
£ |
£ |
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
|
|
|
Investment income |
|
|
|
|
|
Rental Income -34 High Street |
14,727 |
- |
- |
14,727 |
23,375 |
Deposit account interest |
120 |
16 |
- |
136 |
78 |
M&G Accumulation Units |
|
|
|
|
|
(Recoupment Fund) |
3,037 |
- |
- |
3,037 |
6,893 |
M&G Accumulation Units |
|
|
|
|
|
(Extraordinary Repair Fund) |
- |
4,936 |
- |
4,936 |
8,144 |
Interest receivable - trading |
- |
- |
- |
- |
2,323 |
Rathbones (Recoupment fund) |
1,411 |
- |
- |
1,411 |
- |
|
19,295 |
4,952 |
- |
24,247 |
40,813 |
Charitable activities |
|
|
|
|
|
Conts received from Millard House |
17,566 |
- |
- |
17,566 |
15,176 |
Rents received from Daggs |
|
|
|
|
|
Allotments |
4,614 |
- |
- |
4,614 |
3,671 |
|
22,180 |
- |
- |
22,180 |
18,847 |
Other income |
|
|
|
|
|
Sundry income |
1,015 |
- |
- |
1,015 |
702 |
Total incoming resources |
42,490 |
4,952 |
- |
47,442 |
60,362 |
EXPENDITURE |
|
|
|
|
|
Raising donations and legacies |
|
|
|
|
|
Insurance |
971 |
- |
- |
971 |
612 |
Maintenance |
703 |
- |
- |
703 |
727 |
|
1,674 |
- |
- |
1,674 |
1,339 |
Charitable activities |
|
|
|
|
|
Grants to institutions |
2,005 |
- |
- |
2,005 |
2,050 |
Grants to individuals |
22,989 |
- |
- |
22,989 |
22,349 |
|
24,994 |
- |
- |
24,994 |
24,399 |
Other |
|
|
|
|
|
Repairs and insurance |
26,938 |
1,723 |
- |
28,661 |
12,988 |
Support costs |
310 |
- |
- |
310 |
570 |
Fixtures and fittings |
1,437 |
1,125 |
- |
2,562 |
2,421 |
Computer equipment |
186 |
- |
- |
186 |
- |
|
28,871 |
2,848 |
- |
31,719 |
15,979 |
This page does not form part of the statutory financial statements
Page 17
Thornbury Consolidated Charities
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024 |
|
|
|
|
|
|
|
|
|
|
|
31.12.24 |
31.12.23 |
|
Unrestricted |
Restricted |
Endowment |
|
Total |
Total |
|
funds |
funds |
funds |
|
funds |
funds |
|
£ |
£ |
£ |
|
£ |
£ |
Support costs |
|
|
|
|
|
|
Management |
|
|
|
|
|
|
Clerk |
12,971 |
- |
|
- |
12,971 |
9,250 |
Room hire |
- |
- |
|
- |
- |
38 |
Sundries |
387 |
- |
|
- |
387 |
847 |
|
13,358 |
- |
|
- |
13,358 |
10,135 |
Governance costs |
|
|
|
|
|
|
Depr of freehold property |
4,000 |
- |
|
- |
4,000 |
4,000 |
Legal and professional fees |
2,975 |
- |
|
- |
2,975 |
3,679 |
Accountancy |
2,040 |
- |
|
- |
2,040 |
1,800 |
|
9,015 |
- |
|
- |
9,015 |
9,479 |
Total resources expended |
77,912 |
2,848 |
|
- |
80,760 |
61,331 |
Net expenditure before gains and |
|
|
|
|
|
|
losses |
(35,422) |
2,104 |
|
- |
(33,318) |
(969) |
Realised recognised gains and losses |
|
|
|
|
|
|
Realised gains/(losses) on |
|
|
|
|
|
|
programme related investments |
(24,143) |
11,076 |
1,500 |
|
(11,567) |
32,447 |
Net (expenditure)/income |
(59,565) |
13,180 |
1,500 |
|
(44,885) |
31,478 |
This page does not form part of the statutory financial statements
Page 18