Consolidated Charity THE TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ending 31st December 2023
Consolidated Charity CONTENTS Trustees Annual Report Page Referen and Administrative Details Structure. Governance and Management Objectives and Activities 6-10 Achievements and Perfomwnce 11-20 Financial Review 21-22 Plans for Future Periods 23 Trustees Responsibililies 23 Financlal Statements Auditors Report 24-26 Staternent of Financial Activities 27 Balance Sheet 28 Cash Flt)w Statement Notes to Cash Flow Statement 30 Notes forming part of the Financial Slalements 31-42
Consolidated Charity TRUSTEES ANNUAL REPORT For the year endlng 31t December 2023 CLOI1daIelj Chwty ol Burton u7 Trent RegisleTed Charty No 239072 Mr J P Soulhwell Clerk lo the Twslees Fffsl Floor. Gibraltar House Crown Square. First Avenue Burton Upon Trent Slaffordshire DE14 2WE Tel.. 01283 527067 01283 507969 Emal. clerk onsolidaledchari Web.. Iidaledchari tJrton.OT burton.or -uk TRUSTEES Mrc B Robin50n MBE BEM OL (Chawl Mrs P L A¢kroyd IVi¢e Chair) Mr G Brown Mr R J Clarke Mr D C Lee5e Mr R G Fargher Mrs M A Healhef Mrs C Mahon Mfs S L Phillips Miss D Upto Rev'd R F Styles Mr K Willm$ Nominated b ESBC Cllr Mrs B Toon IReswed- 6th Mar¢h 20231 Cllr Mrs L Walker (Appointed - 18th Seplember 2023) Cllr Mrs S McKiernan (Appointed- 18th Septembw 20231 Cllr Mr S P Gaskin (Reolected . 18th September 2023) Cllr Mr C D Wileman {Re-elecled- 18th September 20231 Cmr Mr D F AetcherlRe-decled - 18th September 2023)
Consolidated Charity PROFESSIONAL ADVISORS Sollcitors SL*ut Auditrx8 Smith Pathgrship 158 High Street 8urton upon Trent Slaffordshire DE14 1JE j0hrM T$31[ LirThted 81 Burton Road Derby Derbyshire DE1 1TJ Bankors Lloyds Bank Ple 16 High Street Burton upon Trent Stafford5hire DE14 1JA Rushlon HKkman 186 Horntrr¥Jlow Slreel Bwton Trent StaffordshY8 DE14 1NG ment Mana ern LGT Wealth managTht 14 Cornhim London EC3V 3NR
Consolidated Charity The Truslees have pleasure in submrttirKJ It rey1 8j the Financial Statements ol the Charity for the year ended 31st December 2023. The FinarKial Slalernents have been prwred accorda with the accounting policie5 sel out on pag&$ 31 to 33 and CoMY wilh the Charity Commiss¥)n Scheme, the Charities Act 2011 and Accountiig and Reportiri9 by Charities.. Ststemenl ol Re¢(MnmerKled Practice appluble lo chartlie5 preparing accounts in accordance with the Fnancd ReporliNJ Staard appli¢able in Ihe UK and Republic of Irela IFRS 1021 {effeclive 1 Januwy 20191. STRUCTURE GOVERNANCE & MANAGEMENT harit Scheme Ihwgh the origins of Ihe charity dale back lo 16m century, the cUrn¢ yovisitsns regulatsng Ihe PiWP05es and adminislralion of the charity ¥e ¢t1r within the scheme created by order of Ihe Charity c(nMI$S)n¢rs for England and Wales dated 4th April 21 as amended by a special resolution passed on 14th FetrKuary 2005 arKI as amen(leO by a Spec resc4utM)n passed on 41h March 2019. The charity is Un1r0rp¢Y8ted. Trustees The charity currently has seventeen Tnjslees With tsyo vacancies. fNe of the Trusiees are nominated by East Staffordshire BOr0h Counol. Nominated Truslees are appointed f( a four-year lerm al a meetin9 held aordIng lo the ordirffji of th8 appoinling body. Cwleé Trustees are appointed for a fve.year twm by the tntslees at a speual meekng of Ihe charity. Co-opted Truslees are persons wfK) through rewdence. oUp"0n, employment or otherwise have special knowledge of Ihe area of benefit. They ae recrurted from the nefvk of local conlacls built up by the Tfuslees over many years. In condLtirj the recrurtmenl process Ihe Trustees lake into account the relevant skills a1 expwtse of the existing bjdy of trustees wilh Ihe aim of redressir¥J any perceived weaknesses. The charity has adopted a poly of cryxlucliro a formal iNJuc1 process for all rM¥ Trustees. Iniiialty new Trustees are senl an information pxk ntlThing key docAJments relating to the charity and the rc4e of a trusiee arbj Ihis ts folthd up by a meeting wilh the Clerk to familiartse the new Trustee with the workings of tharity. the legal and accounting framework and Ihe obligaiion5 of a Tru51ee. The charity has also adopled a of ccrfKlucling an 4)TrJoing traning process for Trustees designeLI lo enhare their knwle(Jge arKI urKlerstanthng of Speci S of inleresi and lo keep Ihem updated on current developments. Thts is carrd out on 8 group basis arranged by the Clerk or on an individual basis through external training c(KKses wn by IndeFeTrJent bodies. AllernalNely. the Clerk may issue briefing r¥)te$ lo the Truslees. Ne of the Tru51ees receive remurnralNM from the thw"ty. IF¥yJgh some receive reimbursement for oul of pockel expenses.
) Consolidated Charity anisalional Structure Decisions are made by the Trustees al meetirys of both the M8#1 Committee and Ihe various su commillees which have been set up to the smooth running of Ihe charity Some decisions of the sub-committees require ralificalion by the Main Committee. The adminislialion of Ihe charrty is pwfcmed by the Clerk, the Assislanl Clwk and the AdMl51r811on Assi5tanl. The Policy and Resources gJt>Committee is responsible for managing th8 financ8. administration and govemance of Ihe charity. The Almshcwses Sub-commiilee is re5wiwble fLY the managemeni of the almshouse5. Grants lo organi5alions are awarded by Main Commee. Granls lo indwi(kJals ts relief in nee are awarded by Ihe Small Grants Sub-Ccffimi(teè. The Educalional Sub-committee is responsible gNiThJ finarKial assistance the form of grants lo individLtals for the wrpose of a(JvarKing Ihew eduCan personal develormenl {blUdIng sport and the arts) and also awards tsJrs8rs io students university degree courses. The Sub-commillees are made LIP as follo. Policy and Resources Mr C B Robinson MBE 8EM DL Ichwr) Cllr Mrs P L Ackroyd {VIc8 Chaw) Mr G Brown Mrs M A Heather Mr D C Leese Mrs S L Phillips Mr K Williamson Almshouses Mrs P L Ackroyd (Chair) Mr G Brown (Vice Chairl tr K Wlliamson D C Leese Ktrs C Mahon Mrs S L Phdlips Mr C B Robwison M8E 8EM DL Ir S McKiernan (appointed 18th Septembu 20231 alr Mr C D Wileman Small Grants Educational Mrs S L Phillips {Chair) Mr R G Fargher ( Chair) Mrs P L Acwd Aldemian Mr R J Clthe Cllr Mr S P Gaskin Mr C B Robinson MBE BEM DL Miss D Uplon Cllr Mrs L Walker lappoinled 1 V Seplember 20231 Mrs M A Heather (Cha) Mr D C Leese (Vice Chairl Mr R G Far9her air Mr D F Fletther Mr D C Leese Mfs S L PhAIips Rev'd R F Sly Mi8s D UplCAI
Consolidated Charity Risk Mana ement The Tiuslees mawe and govern charity irtr such a way as lo minimise exposure to any polenlial risks. be they govemance, cyeralional. finatKi. comFliance or oltrr risks. whiLsi ensuring that ihe oty'eclNe5 and cper81ion of the charity we rkx compromised. Ouring Ihe year iisks 10 7htch the dTrarity could have been exposed to were idenlified a1 revwed by Truste¢$ and systems or wocedures hawe been eslablished to maroge those risks.
?> Consolidated Charity OBJECTIVES & ACTIVITIES Ob'ects The obiecls of the charity are lo berfi the ha"tantS of Ihe town of 8urton u[1 Trent and th8 r)eighbwring pwishes of Anslthv. Barion Under Nee(frod. Branslon. 8rizlincole, Dunslall. Hanbury. Stretton. Tutbury. Rolleston on Dove. TatenEM"Il aThJ Rangemore and the existing civil parish of Outsvoods and Outsvoods South. The provis of alrnshouse accommodat kn the p)(. The promotft of 8ny chartsble wrpose Ihe provlsion of financial assistance to individua15 who are in Ied and to organL8a1i serve the community. Aims In conduclirwJ the business of Ihe Chanty. the Truslees have the folbwing aims: 1. To ¢)peraie a 5Lrffwnt number ol almshouses to Wi5fy the need for independent accOmmodats'r for qualfyin9 reSentS 2. Tp repair and mainlain the thaity's almshcmjses to tKeserve Ihe bJildings f(v the benefit ol future generations. 3. To meet requests for financial asslslance from IndN#Juals. residenl in the area of benefil who are in need by reason of youth. age, ill-health. dility. fanCIal hardship or other disadvante. 4. To offer financial svpport lo dIVluars, resKknt in the wea ol benefil for Ihe advancement of their eéucalK)n or personal development (indudirvJ swrt and arts). 5. To offer financial assL%tsnce to nol-lor-profit orwtsations operating for Ihe benefrt of the local communty. 6 To manlain a hKJh Ve1 of I3ne$S amorysi all SeCtS of the local community of the avaikbility of the charrties alrnshouses and its ¥arKx granl scheme5. Ob'ectives The Trustees sel the lollowiro main objectives for Ihe year. 1. To babnce the bet 50 thai income generaied maictEs expenditure over a five-year period, tskin9 inio COnSKleratK)n exceptM)nal gains and losses In Ihe Inveslment PtrOllo. 2. To ensure the returns from Ihe chanW5 investments meet the perf0rrna tar9els spectrd in the IrNeslmenl Polry. 3 To maintain the short-lerm adiuslmenl lo Ihe Investsnenl rtf(l0 lo favour OMe Ihwgh Th)1 lo jeopardise significanlty capi181 gr(h¥th 4. To review Ihe rel Irom the clwrty's inveslmenl twerty ptfolIO and the High Street PfopertTes in particulai. S. To keep the amshou5es occupRd with a minimum target of occupancy over the year. 6. To keep the amshouse troperties mainl8wd in gocxl condition. 7. To offer comfort ar supporl lo the almshwse residents by wovidin9 warden assists and an effnI and responsNe community call system. 8. To manage Ihe scheme for grants lo organi&*Trons. gran15 to IndNiduals fur relief in and grants lo indNiduals eductin and perwal (Jevel0pTht (ir£ludirrfJ spcrt and the arts) io serve the needs of all seclors ol communty.
Consolidated Charity 9. To manage the Bursary Scheme arKI wward forty ixr5wies to th8 mosl deservin9 sdenIs. 10. To nN)nitor grants awaided lo rKJ14erf-pYofil organtsalions lo ensure ihe Ch8rty's resources are ulblised for maximum effecl and for Ihe put4 berfrt. 11. Adopt a revised Investmenl Statement whh is robusl and effe1ve. trate ies&Si nificant Activities In order to acti1e Ihe obJ"ecbves, the trustee5 adopted the fo1ng straleges carried out ihe following signifan1 activities.. The Main Committee monii(ffed the range and dislr1butn of granl applications from organisalions and in each case con5idwed whetr or nol an aw¥d would be of putAic benefit. The Iruslees monitore(i the ongoing di8tributs.on and fLrture suslainability of grants and considered whether an award Wld be of wblic bfft. The Polity & Restyjrces Sub-ctxnmbltee examined dglailed Magement accounts on a quarterly basis. Actual irK0 and expeixlilure were ¢Pared agairtsl tXKlgel and the perfom)ance of the charity's firkwKia and wopwty inveslmenls was dosety SCfLrtinised. The Policy & Resourcs Sub-C(xnmittee condutted a review of the Charity's commercial property insurance affangements aThJ the Pfovision ol Irustees. indemnity insurance. The PoIY & Resources Sub-commitlee liad dosely with the Main Commillee and the other sub- committees lo ensure that aniKipated expendiluie could be mel wilhin the overal budgetary constraints. The Small Grants Sub-committee mei regully lo manage the demand for Ihe relief in need grants scheme. The Small Gr8nls Sub-committee also liaised wth local $UPF1 agencies lo omole the scheme and ensure it remained relevant and useful to those beneficiaries most in need ol assistae. The Almshouse SCOMMittee met wlay lo exercise control over Ihe management of the alrnshSe properties aThJ review ihe welfare of Ihe alms1lse resid8nts. During the yew the Almsh¢use Sub-committee conlirMJed wilh the refurbishfflenl schedule as propertie¥ became vacant and appointed r resKlenls lo available tKoperties. The Almshous8 Sub-committee also had responsibl for managing the emOyMent ol wardens al conducted appraisals of their perfom18nce and managing the operalior) of Ihe communty call syslem. The Educal¥onal Sub-committee met regulwty lo consKler Ihe ijperalion of Ihe educal¥)nal grants scheme. The Stsb-commitlee aLso feviewed the working of the bursary stheme and liaised with headleachers and h$ of sixlh fc*m on an ad hoc basis.
Consolidated Charity Grant-makin olicies The TfUStee$ confimi they have referred to ttr Charity ComMissn,$ general wHiance on publ benefil when setting the charity's granl-making WleS. For each scheme, the Trustees aim to make ts aPpIal)n process as simtle as possible whilst extracting Ihe key information needed lo make a fa aryl balarud decision. Each scheme is allocated an budget to which ts Tnjslees gewally aim aJher8 without il fettering their dire¢lOn %then considering the merits of any, partlar applKalion. A. GRANTS TO ORGANISATIONS ApIcall0ns for grants from OrgarSaIlOnS are considered by Ihe Main Committee which currently meets four limes a year. Iwo of Ihese rneetings grant awar(I meetings. It Is Ihe Truslees. policy to award a broad range of grants to a de ¢ross-secliC of the community. ApplicalSons Irom organi5aLions are calegmd as fol$. H8allh, Sooal Welfare a Care Sport. Recreation & Lwsure Ethjcalion & Youth Devebpmenl Vdunl¥y Gr1p$- Buildin9S Vdunlary Groups- Equiwnenl VcAunlary GrtyJps- Cfvheads Faith Community, Environment81 & Hw4t8ge The overriding pn"nciple is that each grant ap17 should be wnsidered on Is meriis. The TrLtste8s, wrthoul fettering lh discl)n. consider the folknving questK)ns when considering the merits of an applKation: Whal FffOPOrtion ol the beneffioaries are resJent in area of bene How many benefrI¢S ore Ihere likety lo be? Is the applinI based in the wea ol benefit? How needy Is the ¢NganisatKthef¢taries? How essenlol is Ihe rtem applied for lo the running of the organaOn? What would be the detrwnenl lo the applKartJcommuThty rf the tyanl was not made? What reserves does Ihe applying ganisatI have in its bakne sheet? Has the applicant SOU9ht fuIng from elsewhere? Where the applicant is a dub wrth members. have they g&raled Some of thgir funds for themselves? The Trvslees also take aCCnI of the past hist of appIal10Ths and awards to the applicant. Th15 indudes publiryty given lo charity. comFAorKe with grant monitorin9 WOC8dures and the impact made by pr8wous an1$.
Consolidated Charity B. RELIEF IN NEED GRAs The Relief in Need ¥Yanl scheme is for people drfthl cwrJJmstartes who are in need by reason of ill-heallh, disability, financi hardship or o¢hef dtsadvanlage. The scheme primarily provides th"nan¢ial assislance f(x I1e in need lo purthase essèntial ilems such as,. Cookers, Iridge freezers and washirKJ machirs Carpets. fwThture arKI bedding Mobility aids School uniforms. AJI 4)plications musl be acc(Mnpanied by a tter of suppNi fr(m a suppM wryker or other suitable ofes5ional and FYovide of inc(Mme experKlitwe. Applicalw)ns are C[sid8r8d by the Small Grants SutFCommillee an onlfj basis. To prevent abuse of the system the trustees have adopted the Idlong gurfjelines.. The Trustees wll not award granls lo clew debt. The maximum award lor al ilems is £7X> per year. A maxlmum of three app4alK)ns wll be awarded in a fNe ye¥ perd. C. GRANTS TO INDIVIDUALS FOR THE ADVANCEMENT OF THEIR EDUCATION OR PERSONAL DEVELOPMENT (INCLUDING SPORT AND THE ARTS) Applications are considered by the Educ81ional SUlFcmitlee an ongoing basis. Ctear evldence ol the need for finarKial support musl be demonstrale(l. The maximum award is £300 in any ore year Applicants n¥Jst provide eviderKe th81 tw have a Fla¢e the ¢tyJrse. event or wii8Ct f¢x which they are seeking assistsr¢
)> Consolidated Charity D. BURSARIES Applications are consKJere(I by the Educational Sub-committee. application5 musl be accompanied by 8 personal statement from aOKarit and a COnfential supporting slalemenl from the school or edlege. Bursaries are only paid for three acaemic yews of a degree cowse and payments will be made during Pa Flacements. Payments will On be made rf the apdicant provides evidence that saiisfaclory progres5 is being made tough(J1 the course. A maximum of f¢xty tsjrsaries are awwded yew {but n excepih)nal cr¢um$tances Ihis may be increased al the discretion ol Ihe Trusleesl. When cOeTing the awards. Tnjslees assess e application according lo the fojbwing crrtefia.. Financial need Academic ability Leadership. posibons of resporL%iblty and invrAvem8nt in schod or eommunty &twilies The maximum aw&d ts £1.5. 5plil eqLFaly over Ihree years 10
Consolidated Charity ACHIEVEMENTS AND PERFORMANCE B lancin the bud et The Trustees ldgele(l lo repcffi an operating surFAus of £8,222 over Ihe year. The resLAI for the year is a surplus 01 £48,820 the m8ior drflerences bw'rKJ' Income re¢eNed was highw than expected by £22.1. Inveslmenl mcome was lower than expected by £25,496 as markets rem&n volatile. Weekty maintenance o)ntrilxJtrons were highèr than Jdgeled by £19.945 InvestnI propty repars lotalled £5,077, a d8rxease in sperKJ 01 £9.951 over tAJdget. During the year the Charily has conlinued Ihe mw repa¥ improvemenl programme started durirwJ 2016 10 the Almshouses and the lotal spend for the year was £23.288 organisatl grants awarded were £3,255. lower than budg8led and relief in neefl payments weie £7.241 lower than bud9eted. Over the S year peri(MY. there is a surphJ5 of ovef exF*idrture. Analysis of Sn¢orn• and expendlture before unrealis•d gains and losses 2019-23 Y¢ar Inrne Expenditur• Surplus 1 IDef5clt) 2019 £6T2.X11 £6CKJ.245 £22.056 2020 £565.944 £527,172 £38.772 2021 £628.811 £559.309 69.502 2022 £679.188 £635.9)9 £43.279 2023 £667,459 £618,639 £48.820 Investment Performance There was increase in renial income lo £119.951 as the level MaInS hb3h. There was a decrease of 5% in income from Ihe finla1 investments The capilal value of the financial investment portfolio increased by 5%.
Consolidated Charity Almshouses mslUSeS are dwelliro5 pfovKled by a bene18 fcff peoF48 In and admir¥slered by a Ix)dy of Voluntary trustee5. They tWlKle disthanbJed re(We, mslly eldwty. with affL¥dable housing enabling Tesidenls lo relan their Independence and lo INe in theif local community. C(M)solidaled Charity has 29 almshouses In Burt U[ Trent rarVJI from listed buldings io mo(Jern bungalows sprèad over two srtes In Burton (Wellfftgton Street Rangemore Street) and sile5 in Winshill {Hawfield Lane and Wheatsey Lane) The chan.ty employ5 warderts lo IpeCt Ihe almshouses on a daily basB and VNI ts residents to eft5ure Iheif well- being. charity does not kyovide or medical ass6tarKe. tkxJNJ the year the charty employed one full me warden and part-l me warden. Staff costs for the year amounted io £31.884 (2022.. £29,459). T1 cw'ty maintains a communty call 5y51em al a cosl this year of £8.92412022. £8.572) prycted cosl foc 2024 is £8,524 W•Tr*tw Styeel The tolal occupancy levd for the year was 95.5% vthich was abov8 thÈ set target of 90%. Closely advised by Ihe charity's propety agents trustees spent a total of £75,857 {2022'. £95.5911 during the year on the rnaIntenae and upkeep of the dmshouses. The trustees have nmilled lo a complele refurbi8hmenl plaMMe of the PJmshwse5 as and wh8n Ihey become av8ilable. In accordance with the chariWs govemry document. the trustees have eslablisw an Extraordinary Repair Fund lo provide for the extraordinary repair. improvement or TebJildiThJ crf tt)e alwn5house5 and a Cyclica Maintenance Fund lo provwje for oréinary Maintena and repair. At the year end the Exlr80rdinary Repair Fund amounle(I 10 £611,345 and the Cycl MaIntenae Fund £5.330. The Trustees also made provision of £259.940 via the Exlraofdin Repair Top-up Fund. al The residen15 are Ched an average weekty mainlenarte contr1110n of £105 per week. 12
Consolidated Charity Grants to Individuals A. RELIEF IN NEED ¢harity recCniseS Ihal many peo can I5¥¢S in diff111 c4rCumsta8s often 1hroh no fault ol their ¢7wn. Whitsl the stale provides a VdKle range of benefrts and Suppl Ifwe are some stances where people need help arKI the state cannol assist. The Trusiees responded to the decrease in dwnand for the scheme by amending the appliCatn process, whilsl mainlainir¥J strid ntrol o¥eT t1 amounts awarded lo exh individual applicant. In 2023 a lolal of 142 wants were aw¥ded tc4alling £82.759 {2022.. 105 lolalling £37,101). B. BURSARY SCHEME The bursary scheme ams lo help undergraduate students redent in the Ghaiity's area of benefit wrth the costs associaled with sludying for a universty tlegree. The TTU51ees introduced Ihe scherr in 1998 in the wake ol the re(Juclion in studt ants arKi the IntrOdtl of luiln fees. The $Ca01$ and colleges included in ihe bursary scheme are Abbot Beyne School. Burton and sth Derbyshire District College, De FreT5 Specialist Tectwsolo9y College. John TaOr Hh School. Paget High School. Paulel High Sc1 and Derby GrawKnar Schcd. This year Ihere were 45 appIants ajwytry f(ff a tXJTsary, corrywed lo 44 applKalions in 2022. This year a lolal of 37 bursaries of £500 ptt anNm lor thfee yws were avrdrded. C. EDUCATION AND PERSONAL DEVELOPMENT (INCLUDING SPORT AND THE ARTS) Tl charty receives requests for finarthl a$sFStan from Iu31S for a Variety ol other purposes widuding.. Further education and vocational traiThng Overseas trips personal developnwnt SpcKts aclivrties Arts s¢holarships S grarts were awarded thts year totallng £1,050 (2022.. 3 syants tolalling £5841. 13
Consolidated Charity Grants to Individuals 2023 - Values E90.(KJn 00 80.000 00 r70 000 00 £Eo 000 00 ESO 000 00 [40.000 00 130.000 00 120 WO.VQ f10 QOO.00 FO.00 De%*loi>rnen-. Grants to Individuals 2023 - Percentages Iii f4ee IlSOI¥ EUvc•iio.'i & Pe15011•1 De'it1)111ei". 14
Consolidated Charity Grants to Or anisations Numerous organtsalions such as churche& regtsterad thari1 and voluntary groups request help towards variOUS wo11$. ea¢h of swnificanl wmportance io these txxlies and lo Ihe residents ol Ihe charlty's area of benefit. 11 Is the policy of the chty to aKn lo balance rts granl4hakirrfJ lo benefit all secli(ms of Ihe communty e¢wally The charity mak&5 bolh ca101 and revenue grant$. Some organisab.08 that ask for help opere outshle the chan"ty'5 area of benefrt twl still provide vilal help or servKes for the resrfients the area of benefit. Gran15 made lo such organisalions e calculated on a rKoportJnale basL% Grants totalling £97,045 were awarded lo (Kganisabons durirry ts year with É35.940 oulslanding al Ihe year end 12022.. £152.103 wth £41.784 (Jtslar¥Jing). The TfUStee$ Ere satisfied with the $ead of an15 which were aTratysed as folkws.. Grants to Organsations 2023 - Values •Vk) C.¢Jti-11 15
Consolidated Charity Grants to Organsations 2024 - Percentage lJulLin(ar' 11)11p5 Euts¥iieill e11 Ilh Social VI11&.. Jn(:Cwe Gro$) ties LIoiuilllt} Giwp- Overl?$ 16
Consolidated Charity Ttr follcMin9 an19 were awarded in 2023.. Education and Youth Eagles Nest Project £10.000.00 The granl has been ¢redIblY inwtanf lth's yew ft has increased costs sIgnCnIty to mov8 to a space of our own lo wilinue lo grow Ihe needed SeThe. Wrfhoul th grant we uld not have rlsd the year in an acceptable po$rtn fjnancialty. Jan Appletrfft. Director orts Recreation and Leisure Able Too Forum-£5,288.75 It's enald Able Tw Io enter lull leams Ihe league artd ptsy&rs lo be able to exKrtence away fixlurgs. and ou that the new challenges. and additional friendships that h8Ve developed through travelling together. Able Too Games has alknwed vs lo reconne¢1 with tsnwlJ&s. old and new. gather fe&db8ck rL¥matiiJn on how to develop what we offer gng fcThiarLI. al the samg bm8 as wowding lun. 8cIMts forpeoplo 10 ty. Emma Vafnam. Ccmmrtlee Member Tutbury Cricket Club - £5.000.00 17
Consolidated Charity UC Dance Parents Committee - £2,500.00 Was $0 urwcylanf. provO8d essent1 kit untsm 8ndcosiumes for Ihe darKers. Could nol have 8chv&d withotsl support. AmarKla SkevingtorL Cha houl the syanl E MJuk nol ha l)een able to 981 matched funding andthe woiecl would have happened. John Pollard, Committee Member Burton Amateur Boxing Club £2.000.00 Scroplon Riding School for Ihe Disabled - £5,000.00 We have purchased a new horse for our centr8 Usiry the grant 9iven by the Consol01ed Burton. He will be able lo help our riders ogress theY skills and broaden Ihe expernce. He is gwd rta1ur and will also be suilable for some of our more therapeut rer$ lo enm worknng with In thew activily sessions. Glynis Dalley. Trustee 18
Consolidated Charity Volunta Grou s Overheads Little Theatre Company - £5.000.00 LTC is seW-financW. therefore this ant is the only financial support we ceIVe. This grant Is invaluabk In allowing us lo pul Dll affordable Prodli0n$. Wilhoul it. we wcwld slrug9le to pay the rent on the unil and would be wilhoul any%there lo twikl ad store sets aThJ props Susan McPhee, Secretary Burton Competitive Music Festival - £750.00 Grants to Or anisations - Faith The granl has allowed us lo cover some of our e costs which includes the rent for our oifi¢ space. This spacg gives us rcK)m to our rescw¢es. as a team and to offer an area young p8ople to coipneGf with us one to ¢%ye wLYk and small wups. Sue Garb, Centre Dweclor Burton Youth For Christ - £4,000.00 St James Church. Barton- £10,000.00 syonl has be•n helpful as it covers most ol Ihe Yenue cosls lor the pTqe¢t. This meons Ih8t our trganisat then needs to prov8 the peo*. resources ond equipment. R E Myers, Community aThJ ParIrShIpS Mawer Riverside Church, Burton - £30.000.00 19
)> Consolidated Charity This gyanl has been absolutely pssenlial. and we The Community Church, Burton we not sure how we would continue lhOUl youf and District . £10.000 ppNt. tt enables us to focus. 81 8s1 short lerm, M the wwk of s¢wporting clients. rather Ihan fvndraising. Anlhcwry Gratton, CAP Manaoer Tutbury Parochial CC (St Mary's Very mpylanl and much appr¢¢iated Priory Church) - £5.000.00 J E Cdlison. Asystsnl Treasufer Grants to Or anisations- Communi Herita Environment and Micro Brew Radio - £1,000.00 The fvndiTng cSO11818d Charty was v8ry tant lo us Funding is a long and uncertain ekment in runnuw the station. The grant offered some much negded ?s&stance in purchasing equ*pnnt andpe8¢0 olmind for all the vcrfunleers who work h8re. J Whyatt. Dffeclor
Consolidated Charity FINANCIAL REVIEW The General Fund itKrease of £66.731 in 2023 wa5 maintsird by the monitoring of cashfknw on 8 daily basis. 2023 wa5 another volatile year for investment markets ar activty in the year re5ulled in gains in the value of the financial investment prfolio of 5.1 %. Al the erKI of the year Ihe net a55ets of the chty sto)d at £16.444,835. an iwease of 4.6%. Reserves Poli The TfU$tee$ ¢on$id¥ an approwBle level of reserves sh(wld be held to ensure the charty ha$ sufficienl resour¢e$ lo meet it5 cfflgoing experKliture aTrJ lo allmv lime for reorganisation in the event of an unforeseen irtrease in expenditu ty liabilths or an unexpected downlum in inwme ly asset vahJe$. The Trustee$ have made an assessment d the iisks and othw issues fa¢irKJ the th¥ity and have ¢onsidered it pwdent lo set a target level of reserves al an amount equivalent to the estimated total annual expenditu of the charity. The Reserves Policy is revietd annually by the Polry & Resr Sub£ommittee. The amount hekj as Reserves in Genera Funds at 31$t December 2023 was £1.112.669 which was greater than the target level of £887.%)0. The Trustees have reCaniSed the need to designate certain amounts held within G8neral FurKls lo meet future commilmenls. The need for these DeSIated Funds aThJ the amounts designated are reviewed annually. The ch&ily's gOVernK doCUrTt requires the Iruslee5 to maintain funds for the extraordinary repair. improvement ¢x rebuildino of the charity's almshouses. The charity has a Reslricled Fund for this purpose. but the Iruslees consider this ts insufficient lo meet the charity's future commilmenls. The Iruslees have thef0 deggnated additional funds lo meet these commitments arNJ these are held in the ExlraNdinary Repair Top-up Fund. Al the end of the year the Extraordinary Repair Topup FuThJ amounted to £259.940. When combined with the Restricted Fund the charity has sel aside a total of £894.574 for extraordin repairs which the Iruslees consider sufficient lo meet the charitys future commitments. In accordance with the requirements of the ¢hity's governing dwmenl the trustees have designated funds to meet future commitments the cydinary repairs and maintenare of the charity's almshouses and these are hdd in Ihe Cydical Maintenarte Fund. At the end of the year the Fund amounted to £14.470 whith the trustees c¥)nsidw sufFicienl to meet the charivs fLrture commitments. The Grants Fund i% intended to enable the tru5tee5 to maintain their capacity for making grants whilst balancing the needs of present and fLrture benef15. Al the erKI of the ye the sum held in the Grants Fu1 was £5.174.231. 21
Consolidated Charity The Amshouse market value on 31Jl December 2023 was £1.860.(W. The Commercial inveslmenl properts on 31• Decernt¢r 2023 wa5 £1.315,IK)O. Investment Poli The Tiustees, inveslmenl obJeclNes are lo seek a bdarKe been iKorne and capital growlh whilst being exposed lo a Mediur19h level risk. Ad¥e 15 taken from the charity's investment managers and the portfdio Is revievthl and compwed againsl estatrAished benthmarks on a regular basis. The Investment Polw ts rev**d anrMJaly by Ihe Pdicy & Reswrces suCOmmtee. Bearing In mirKJ the perforrnance of financrdl mwkets. t Iruslees we salisfied wilh the performance of the investments of Ihe ¢harity dwing ihe finanaal year (see page 111. However continuing pressure on the charity's budget has caused the Trustee5 to retain Ihe short-lem instruction lo the investment rnanagers io adjust the inveslmenl FOrtfOl to favour IrMe though not lo jeopard15e SignifllY capital growth.
Consolidated Charity PLANS FOR FUTURE PERIODS The almshouse refurbishment programme is to continue as and when wry)erts becc¥ne vacant with 75% of this prograrrme being com ete at the erKJ of the y. Trustees Res onsibilities The Trustees are responsitAe for weparing the Tru51ees' AThr ReFKt Ihe finala1 statements in aCCdanCe with applble law and United Kingdom Aeo)untiro Standwds (United Kingdom Generalty Acceple(J A)UntIng pract). The law applicable lo charities in IEnyafKI & Wales) the Charrties Act 2011. Ch¥ity (Accounts Reports) Regulations 2008 and the provisiMs of Il trust deed re9e5 the Trustees lo prepare rinancial 51alements for each financial year wlith give a true arKI fair view of the stale of affairs of Ihe charty and of the incoming resources and application of resowces of the charity lor Ihal perd. In preparing Ihese financia statements, the Trste¢S are required to: Sdecl suilatAe untIng poliw a1 kn apply tt1 con5i51enlly Observe methods and winciF4es in ihe charit SORP 2019 Make judgement and eslimales Ihal are reascfftabie and prudent Slate whether applicable acctsjnling standards have been followed subject to any material departures disdosed and explained in the financi statements Prepare the fir}ala1 51alefnenls on the g)in9 concem basis unless Il is inappropriale to assume th the Charity wll conliwe in operalion. Trustee5 are re5pons6ble for keepin9 woper anting records vthich disclose, wlh reasonable accuracy al any lime. Ihe fina131 FK)srtion of the Ch¥ty ar lo enable them lo ensure that the fina181 statements comply with the Charlies Acl 2011, the Charity (Accounts and Rep(Yts) Regulatn$ 2008 a1 the Provisions of ihe trust deed. we also reswnsible for safeguarding assets of the charty and hence for lakirvJ reasonable steps foi the wevenIn and ¢818CtJon of fraud and olher irregulant$ This report was approvod by the Tntee$ at a me•tlng h•ld on Signed 23
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CONSOLIDATED CHARITY OF BURTON UPON TRENT Oplnlon We have audited the fincIal statents of Consolidated Ctrwtty ol Bwton upon Trent (the 'charity'l for Ihe year endBd 31 December 2023 which ccxnwisè th8 Statement of Fin¢1 Pthibes. Ihe Balaw shfj. Ihe Cash Flow Statement and notès to th8 ffinaneial statèménts. inelLKling a of switst aeLntI)g poliuès. Thè ffinaneial reporting tramv tho1 applie¢J in Iheir pparal)ft is appkable law arTrd Ur¥ted kn"rwJ(Jom AonI1 Standards (United KIj0M Genernlly A¢ceptsd A(rybry pr1). In our oplnK)n th8 ffinancial staements.. givè a Irua arKI f8ir w8w of thè stal• of Ihè chari$ TaYs as al 31 December2023 aNI of its irthmirKJ resources and application of resources. for year then ended,. have been propety prepared in aCCor(lan wilh United Krydl Generally Acc(wntirvJ Prackn.. have been prepwe(l in )rdance with the requ¥ements oflhe Charities Act 2011. Ba8ls for oplnlt)n We corKJucted our a4Kt in ac(xwdance Intemational Sknjards on IUKI {ISAs (UK}) and apFAicable law. Our respon&biIilS under those standwds are fijrther descthd in the ALknrs' $SibIlitI% for the audit of the financial statements 5e¢tion of ovr rewNt. We are IndePrt of the charity in aCCordce wilh the elhical requirements Ihat are relevant tr) our audit of the finKi statements in the UK. the FRC'S Ethical Slarnlard, ar we have fulfiled our othèr 8lhieAI résponsibilit these We beheve that the autht avidènts we have obtsined 15 suffKaenl arhd 8ppropn.ale lo wov• a bags hy our 0pwiic. Conclusions r•l¥ting to going ¢oncem In audkling thè financial statements. we have that the Iees. oflhe gThTrJ corKem basi5 of accounlrvJ in ts prèparation tsf thè finan¢ial statements is appropnate. Based on work we have perf(MThwd, have r1 NJentff malerid ertaIleS th¥vJ to events or coThYitions that. individualy Of ¢o11ocb'vety. rnay (3st significant dwbt the chm's abmy to contwiue 88 a g¢irvJ concem for peri¢1 ol at least mmths from wthen the financaal SLi1ents are authorrsed for is. Our rgsponwblili9s aj the rpsponsiknlilies of lh8 tfU8tee8 wilh respecl to wirwJ (x)rKyn are (knsuited in the relevanl sections of this report. Oth•r Infomiatlon The trusle8s ar¢ rgspons)le lor the ither inf0m18tn. Tho othor information ciknpw Iho ink)rnatKtrn indud8d in the Annual Report, other than the finaw slalemerts arKI our Rewrt of Indepervjgnt AtOrS tre0. Our oplnlon on Iho fthiancial slèt8m8nts does not ¢(Ner olher Infrmil and. ex¢ept io thè extent oth8rMY89 expltlY statad in our Trport. we do notexpr8ss k)mi of thÈrn. In COnnOn with OLW auit of lh¢ finGial StatWnts. our respNJnsiMkty tQ Teal the other infornalion arKI, in dow so. consider whethei Ihe 0r Infcmation is mrialy i$tent the finarKk41 Statements or our knoedge obtained in the audit or otherwis& appears to be materialy misstatèd. If we Identify wch mat8ri81 inconsistencie$ or apparenl material misstalements. we requwwj to d8tem)in8 this gives rise to a matwial misstat&m8nt In th8 finarKlal statements ihernselves. If. based the have Ffor. we condude Ihat the 1$ a vnatgrial missiatement of this other Infomiakn. ¥ few b rw Ihat f¥L We Iwe Th)Ihiig to rewrt in Ihis regar(l. att•rs on whlch w• ar• r•qulr•d to r•port by •xc•pt We have nothing to report in res of the loUtriThJ mattets where Ih& Charities Ifvuounts Reports) Regulations 2008 requires us to report (o you . in our 0on. the infom)alion given in the Report of the Tnlslees Is IOnst$l&m In malerial spect wmh the fmancial statements., or sufficient accounting records ve not been keF( or the financial stalefflents we in agreemont with Ihe accourding r8c¢xds and retums: or we have not re1ved al the inlomiatKffl and explarolwms we reqwe frx ow R•spon¥lblliti•$ of truBt• As eXained more fvly in the Statement of Tntste8s' Res[&b11tles. Ihe Iruslees are responsknle for ihe preparatk)n of Ihe financial slaternents which gwe a tn fair vivw, and for gxh intemal control as Ihe tnjstees detennine is necessary to enable the of Stalen that are free from material m¢sstatemgnt, whether C0 to fraud or èrror. In prepaiing the nal81 stalemenis. ts Injstees are reSpC• assessing the charivs ability to continue as a going con¢em. dis¢k)5irwJ. as applcable. matters rdated lo gciThJ corw and usiThJ the wing concem basis of a¢uMJnlMig unlèss thè trustsés el[ irtwJ to Ih¥idate the dwity to cease (yerdt)n5, or have no realistic alternalrve bul to do so. Page 24
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CONSOLIDATED CHARITY OF BURTON UPON TRENT Our r¢•ponslbS1itl¢s for the autht ol the Ilnanclal s&ments We have been appoinled as auditws uThYer St)n 144 of the Chan(ies 2011 and reFJt in •tlanCe wlh the Acl and refevant regulations m&Je or haviro effect thereunder. Our objeclwes are lo obta"n reascffiat4e aSsUrae aLJ1 theiher the statements as a whole a free Irom material misstatement, whether due to fraj C error, lo IS a Report of the Independent Auditors thal indudes OLtr opinion. Re850neknle assurarKe is a hh revel of aSSUrar bul is not a waraniee Ihat aL1t conthjcted in accordance wih ISAS IUKI will aayS dotect a material nM&%talement vthen it exists. Misstst8menls can arise Irom fraud or error and are constdered material if, iThJiwdually or m the aggregate, Ihey coukj reasonabty be expeLt8d to inffluance Ihg economk decisions of users taken on basis oflhese finartial statements. Tho oxtent to wluch our prce¢S are capatAe oftkndww IrrwJarkns. frnud L8 thIald tr10. Irregularit$, &Jd1j fraud. arg inSla of r-comlIance ryth laws and regulations. We design pmc8dLwes in lin& with OUT responsib"lities. outtined atthie, to detect material misstatements in res1 of irregularities, including fralwj. The extent to %thich our W0ur¢S are ¢•abk of<kte¢lry i)11¢$. fra) is detsiled l)eknw'. In ideniifyiro and ass8ssbng the rtsks of matéria rrisstatemtnt li of irr89ar•ties. 1ndL1r9 fraLMI and non-complian with laws regulations, consWj¥j loknKwJ: .Thè natu and cIrcl enVwonnt of ¢harity Jur discuss)ns with managem aNI govern¥ whettw Ih8y of any 8Ctual. suspecl8d alleged fraud -Thè intemal witrols to mibgalo the rtsks of fraud FolhJ4ThJ our rewew. we have identlled tho fdknknJ eas ¥e deemed to have the gatest potenllal for fraud or material misstatem8nt wthin the finarla1 -The recognition of rental income from freehcthl Theslmert FYOPerti6s .The reccJnitKJn of weekly con1ritcS frcl)) freehohl ams wopert -The reccJnitKJn of investment income from fmancial Investments -The valuation ofestimates in r8spt ol fr88hohJ invesknnt wcpèrb'8s fre8hokl alms-hous8 prrrti•S -The valuat•)n of fmanaal investmenis .Management override We also conwdered any laws and retr(M that were ntral to the ((rntic of th8 charity indudirKJ charfty law. employment law and health salety. The procedures undertn in resFttt of the iisks whwe identified Ihe potential for material misstatemenL Al the planning stage of the autht. we reV1th c(vr(4S plxe by ihe of truskns inclu¢JThJ a review of their risk a88essm¢nl. We alw) cwried out a revi of the of tn(stee me8tiry. In¢ome transaction testirJ wa5 perfoed to test ccffiweteness of inc¢yne. This ijed agreeing rental income lo le88es in respecl of freehohj investment properlies cwryirJ ¢xrt a revw of weekly contributions frcrfn freehold alrns house propprtigs lo ensure that all properties rewved rewi8r in the year. Where there periods of no income in respect of freehold investmenl and akns-house pro[wi5. we referred lo Tru51ees' minutes lo justify the as$ for this. We 81$0 agreed the percenlage increase in weekty ccffjtribution rdtes applied at the start of the ffinancial year lo Ihe per¢enl¥ ri88 Sanc1 the Trusiee8' Bod miNJie& In re$pe¢t of investment iVKIMne from divKlewKls irknest. to inGome pw fv financial statsmenls lo an annual rnMary ol Ihe quartth repKrfts weprnl by the chantys ve51ment Maer5. W& tested th8 vahJali(m of èstimatès in of frèèh invèslmènt rrtoèrtiès and 8lms.hous8s ty a9rèèifig lo the lalosl profesgonal valuab.ons and rwewrng 8n(J lesthry w{edureS undertaken by thg trustees lo utxjale this valuabon inGlJdirwJ c(x)sKlera1K of use of e¥fft. We gave 5jerat ol Ihe use of 8XPBrts. COndeallon was given to r81iancA M thè usè of•xp8rts in rw ofthè manwrtt of thè fin8nckng1 MwèslmÉnts. A samplg ol y)umal entries were wewed kn 8pw¢)prialeness awKJ gnquiries rnadg ol management as to the pr(Kedure8 ) placè for posting louma enlrie$. DuriThJ our we any lar9e. unusual joum4s transa¢tions outside the nomal course ol businèss whlch TrAWè Wlight8d as a r&sull of rnvi8w. Paga 25
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF CONSOLIDATED CHARITY OF BURTON UPON TRENT The finan¢ial ststgments were wewed ow di5cktswe Ch1519 to •Jenbfy any unusual or unèxp8Ctad relatK)nshlps or any a3$ of IKwnyhar. Discus I•e held wilh man•jennI tthere it vras considèr8d a¢Jditi"onal dis¢losures Ere reqiired. We rem8in8d rt lo any i11C81?nS of Id. rnatefial sSlennI or ncplM1o th laws and rwJlatti>ns throughoutthe au(til including trse relathng to the nla1 statemen A furlher dtsxripbon of our resp)nthilities 11 of the f4ianoal aterwits is lothd on It Faal Rew)rtiryJ Couneil'$ webtAie ai vNov.frc.Cry.uklahtc8SFbllI1es. TNS thsrJl)kn fomis part 0fr Reporl of the Indepgndenl Audrtors. Use of our report This report is made solely to the chariVs tntstees. as a boty. in ac¢(¥danGe wilh Part 4 the Ch8rilies (Accoun18 and Reportsl ulalions 2008. Ow autht work has been undert&ken so that we mvJhl slattr to Ihe chwivs Iru51ees th08e matter5 requ¥ed lo slate to Ihem in an aUthics. report and no olhèr rIX)s8. To Ihè fullèst extenl perrnitted by law, ccept of asswrtè rnsponsitrmknty lo othèr ¢h& ¢harty arnl tharity's trustees as a body, for oura Ihis . or for the opini¢M have f(1. Rich Joh sall Li Chartered AcLountanis & Statutory AJitOr 81 Burton Ro&1 Derby Derbyshire DE1 1TJ dmin ior Ststutw ASlor)
CONSOLIDATED CHARITY OF BURTON UPON TRENT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total fun( 2022 Total funds fvnds fvnd INc0fv AND ENDOWMEPffi8 FROM Charitabl? activitle8 Alm&houses 139.945 139,945 133,935 Inveslnnt incorne 320,4D5 14,738 192.371 527.514 545.253 T)tal 4M,350 14.7 192 371 679.188 EXPENDITURE ON Raising funds 123.874 1168 126.042 132,840 Charitablè actlvltlo• rnS-hou5es Gr1 making Govemance 160,817 266,929 41.562 184.106 266,929 196,966 264,720 Total $91182 25,457 635,9 Nst gain1)$88$I on investnts 323.3 22.849 326,384 67 1.251.101 NET INCOMEIIEXPENDtTUREI Transf*r¥ b•tw funqls 190.537 190,423 11130 518.755 190,423) 721.422 {1,207,822) 19 N•t mo¥•m•nt In fvnds 12.130 328.332 721.422 {1,207.8221 RECONCILIATION OF FUNDS Total fvndg tKoughl f(Th8ThJ 6,618.639 1.907235 7.197.53 1S.723.413 16.931,235 TOTAL FUNDS CARRIED FORWARO 1919.365 7 $25,871 1644483S 15.723 413 The leS fomi part Oft1 statements Page 27
CONSOLIDATED CHARITY OF BURTON UPON TRENT BALANCE SHEET 31 DECEM8ER 2023 2023 Total funds 2022 Toi81 funds UrneslrKted Restricied Endowment ftJrKIs lunds fund Notes FIXED ASSETS Tangible assets Inv¢$tmtrnts Invesimenls Inveslmenl property 13 441.425 1.421.712 1.863,137 1.860,003 14 15 6.163.877 497.653 6,210.87a 1,315.000 12,872.401 1315.000 12.247,658 1.315,000 6.60S,302 1.919.365 7.525.871 16,050,538 15,422.661 CURRENT ASSETS Deblors Cash al bank and in hand 16 37.55$ 529.813 37.55S $29.813 29,315 567,368 477,610 CREDITORS Amounts falbr*J due wthm one year 17 1139,5711 1139.5711 1158.8581 NET CURRENT ASSETS 427.797 320.752 TOTAL ASSETS LESS CURRENT LIABILITIES 7.033.1199 1.919.365 7.525.871 16.478.335 15.743,413 CREDITORS Amounls falling duè after morè than one year 18 133AOQI 133,5001 120.0001 NET ASSETS 6,999.599 1.919,365 7.525,871 16,444 835 1S.723.413 FUhlOS Unrestricted ldS Restricted funds Endowmenl luThJs 19 6,999,599 1,919,36S 7,525,871 6,618.639 1.907.235 7,197.539 TOTAL FUNDS 1fj.444.835 15.723.413 The fina ial slalement5 were appro¥od by IM BO3 ol Tte85 and aulhorised for issug and We &gned on ils behaff ty.. Mr C B Robinw - Truslee The nole5 k)mi part of these ffinanc4al stalements Pa9e 28
CONSOLIOATED CHARITY OF BURTON UPON TRENT CASH FLOW STATEMENT FOR THE YEAR ENOED 31 DECEMBER 2023 2023 2022 Cash flows from op•ratlng actl¥ttl•s Cash gènerated from (4)erations 575.3811 Net cath used in operab"ThJ &bvibes 575 3811 Cash fl4)ws from Inv•siing xtivltl•8 Purchase of tan&it4e fixed assets Purchase of fixed asset inv8str)wnts Sal8 of fixed asset inveslments 15.4431 1132,0841 57.656 428,828 47,8 407.563 Not eash WOVK18d by inSId 8CtMI Cash fl¢yws from financlng act5¥lth• Income attributable to eThlov•rnenl Expenditure attributle to endowment 192.371 206264 781 cash provided by fThnciThJ aclmlws 192 371 2[.186 Chang• In Cash and cash •qUI1•n In th• reporting pèriod Cash and cash ViValnts al the bg9Snnlng of th¢ r•portlng pwlod 81.518 {14.7951 463.090 C•Bh and cash ffjuivalent• at Il end ol th• reporting period 529.813 The notes frym pwt of Ihe5e fala1 &atements
CONSOUDATED CHARITY OF BURTON UPON TRENT NOTES TO THE CASH FLOWSTATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATICX4 OF NET INCOMEI(EXPENDITUREI TO NET CASH FLOW FROM opeRATING ACTIVITIES 2023 2022 N¢t In¢omgll•xp•ndllurn) for tho r•p(vliDg pwlod (aF per th Statèmént of Flnancial ActlYltl•sl Adju$tn*nts for: D8preaation chargos {G8inWosses on VestMents Interest rece1 IncLKne attributable to endowTnent Expendiiwe atthbb to endcwtwt Increase in debtors {0ecreaseyCreaS8 in 721.422 (1.207,8221 2.309 1672.802 1407,563 1192.371) 1.251,101 1428.8281 1206.2641 78 13.0781 19,432 18,240 3,78 N•t cash us•d In op•ratlon• 560.832) 575.3811 ANALYSIS OF CHANGES IN NET FUNDS At 111r23 Cash flow At 31112123 Not cash Cash at bank and in harKI 81,518 S29813 44&295 529M13 Total 441295 81,518 529.813 The rKAes fom) part of these fmaniial statempJbts
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATUTORY INFORMATION Consdld8t8d Charity of Burton urth Treni 1$ • Gharty, registwed in England and W816s. The ¢haiity'$ register• Charity numbaf and bnsS addrèss w be ifi thÈ rèlÈrÈr¢A and admirstrativÈ dÈt81$ of the Repcrt ol Trustegs. ACCOUNTING POLICIES Ba#1£ of pr•paring thé finan¢h•l S•m0n The finarKial stslements of Ihe charity. v6 a benefft entity under FRS 102. have been prepared in accordance wth the CharitEs SORP IFRS 1021 'Accnunlng and RepNting by ChitIes.. Statement of Recommended Pracbce aFable to chaiib.es Fffeparng thr accounts in acCOrdar with the Financial Reporting StaThY#rd applu1e in the IJ( and Republic ol ITeld (FRS 1021 (effective 1 January 2019)., Finanaal Reporting Stsndard 102 The FinajaI ReFM)rtry Starhyard applicable in the UK and Republic ol Ireland. the charitS NLI 2011. The finala1 statements have been epad under the histo81 cost convents)n, ith th8 excepl)n of investrnents %thith are at market vthe. as ftthfied ty the revaluation of certain as6ets. The finan(#81 Slatements a prepar in slerfng is the CLwrency of the charity. Monelary arnounts In these fina1 Statents we rrthjed lo the nearest£. Accountlng Judgements and estlrnatss The key source of estwnation uncertairty in the fMHn(ial statements is prowty valuation. The alms.houses vestrnent properties a professonally ery fve yws considered annually by the trustees. Golng ¢oncern The trustees regthaty rnonitcff the charityb reserves pclry and li assessment. Cash low is monitored on ular basis and the chwty continues lo recetve renls frc¥n ils in¥es(ment prOpereS. weekty contributions from its 8lm$-hwses arKI ¥we5tment nccrfne frcrfn its extensive [rtIoO. To date, no material wcertainties exist that would afféct lh& prq>aralh)n ofthe finar1 ststements a going concem bass. Incom All irorne is reGognised in the stateme of Finala1 Adi¥ities On Ihe charity ha5 entiuement lo the funds. it is probable that Ihè income wll be receNed, and Ihe ont can be measwed reliably. Donab"ons. legacies aWKI simlar reswrces are IKIed in ts year in thich they awè r8ceNable, V+ts¢h is when the tharty becomes lo the r950wce. Incornè from quolad investmts 8nd wrtere5t c¥) slKffl term deF•)ts 15 account f(Y in the year in which il is recefvatrAo. Rental irtome Is in the perKKI to vthh it relates. Amwits recewed in advance 8re ¢jel8W lo the followng pèiiod. EXndItr Liabillties are rec(wJnisei1 as expgn(Ilure as t1 15 a leg or (ctIVe obligalK)n Gn[l¥ll1ng the charity tr> that exwiditure. it is pr(thble that a trarfv of beneffts will be qed in settlemenl and th8 amount of the obloation can be rneasu rekw. Expendihlfy 1$ acttsd for on an aten1$ b8si5 aNI ha5 b8en dasstfied uNJ8r headings th41 Jgregal8 all ¢ost r8led lo tho calagory. thgr8 costs cannot bè direclly attributed to parbGLtsr head9s. Ihey have been allocatsl k) activities on a baws consislenl with the use of resources. Grants offèred SL48d to ¢IlbOnS have rnl boen m&t al year date Njted as a cornmitinènl but not as exprty. Ralslng lunds This relat8S to direct 8XP8rK1Iurè in •)d m•nt"tirth3 tP* invèstments plus an 8pfMirftMÈn1 of $UFWrt ¢osts. P¥31
CONSOUDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS - continu•d FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POUCES- contlnued ¢harltable #¢11lIeS Thss rÉL4tss to oxpenditwe grants and threcl e¥FtUre incurred in Ihe provisicfft of almsthuse 4ccwnm1Yn plus an appc¥tiorynenl of sUprt costs. Grants payable are charged in the yew we ardJ. Gav•rn¥tt¢o costs Govemance costs are threct expeThkn in th8 govemance infraStrtUr8 which allows tha charity to operate and to gerat• Ihe infom1alK rwired for public aCCnt8ty an apportionmènt of supwvi costs. Allocati¢n and apportlafiment of costs Support cos(s represent the genernl manag8m8nt aThl adNStron oxls of the charity. TW ¥8 41(Kate(I lo the relevant cost caleLw on the basis oftim8 incurr8d as fcknts". Raising fvnds.. Fina1 inveslments Inveslment propert CharilalAe acivities". Grant makiThJ ms-houses 25% 25% Governance 25% Tonyblo flxed assets Freehold property 15 induded at a Ir vaW•Jn and rmviSi for depreciaOn has be8n ma(k as It Is considered that market ¥Ve is not kss I cost. The freth)bJ prcfety is revalued every S years. The $t of clher tangljle fNed assets 15 Yitlen c4tin e4wal overa Fen"cJ offr)ur years. Invo$tm•nt property Investment prop8rty is shown at most recwrt vahjakn. Any agJregate sULL8 or deficit arisr¥J from changes lair value 1$ recognised in the Ststement of Finaal Actrwts. Investrnenl propert we Ivded ai ue 81 ihe bal thet date and are ofessIonalY revalued every five years. The trustees consKJer Ihe ofttTr8 an annual ba&s in Ihe years where a Ofessi(al valuab.on is not carried out. F5x•d ass•t In¥•stm•nts FinarKio1 InStMnts are ststsd at a f atthe bal0 shoot dats 8nd 80 revaluod nuty. Gains and k)ssès dwosal a1 revdual of m¥esnIS we ¢hwwl to the Stalement of Financial Aclivities ISOFAI. Dgbtor¥ and ¢r¢ditor• Trade debtors and credilors recwised at the in¥(Mced after any thscount offered. Prepayments and accruals vaued at the anmxjnl GakxAaled. Taxatlon charity 1$ exwmpl from tax M its ¢hari181Jo Fund accountlng The charity has restrthd. Lmf8slrkted and fixK1s. funds ara usèd to and prorTh)le 115 tharitable cty¢ts. Restricted fvnds we tlw)se vthich van onty appkd by the Irtjstees for a p*tKulgr purm. Income general8d from assets hekl in th8se funds may ordy appl for th8 samé pulrx. Page 32
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS - ¢ontinued FOR ThE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POUCIES- Connu•d Fund aectsuntlng Unrestrictèd funds arè gèneral that we avaialje for use at the twslees. discretion in furtherance of any obj¢¢tNes Of ¢harity. Dewiated lunds aTe unrethted Iwvjs set asJe at ihe th$on oflhe Injstees for wifK purposas. Endowmént fijnds must be tsined by the charity aThJ Cant be spent. The Inco g&)erated from the assets hel(J in Ihese lunds Is first wlied to the cost of minta"n¥wJ thcsse assets. SUrps incom8 L8 avall8bl8 for expendiluTe by the trustees in accordarKe iih the cis ofth8 charity. Pèn•lon ¢ost¥ and other post.retlrement benefits Thè charity operates a defined conln"bution pension scheme. Contributions payable to the charity's wnsion scheme are charged to the statment of Financial knItS in perM)d to which they relats. Fin•ndal Instruments Financial instwments are daSsirj acced for, 1rd¥j to sybstan(e of Ihe wtrJGtual arrangernenl. as ether finwcial assets. Irablilies er81ty instmmenls. An equrfy In$trLmenl is any contracl th31 eyidences a s#1 interesl in lh8 assets of the company after dèductirvJ all of its liabiltt*s. INVESTMENT INC(AE 2023 2022 Rents received DIVendS afKI inlefest 119,951 116.425 428.828 527 514 545 253 INCOME FROM CHARITABLE ACTMTIES 2023 2022 Ti)tal Alms4K)USeS Weokty maIntenare contribulons 139,945 133.935 RAISING FUNDS 2023 2022 Investment management fees Maintenance eXnSeS Esiablishm•nt expenses Othef costs Bad debts Legal fees 66.412 5.077 7.593 10,044 65 6,276 69.594 15.028 7.702 8.874 1.211 102.409 Pa9e 33
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDEO 31 DECEMBER 2023 RAISING FUNDS- contlnued Oth•r tradlng aetlv1ts 2023 2022 Support costs 18,348 18.259 Investfflent managemenl costs 2023 2022 Support costs 12,229 12,172 Aggrogat8 128,042 132.840 CHARITABLE ACTivmES COSTS Grant tunding of activities (seg wK)le 81 Support Costs Isee note 91 Costs I Tr)te 71 Totals Alms-houses Grant Ma"r Goyemance 153.531 30,575 30,$7S 41.562 184.106 266.929 236.354 236,354 102.712 492,597 DIRECT COSTS OF CHARITABLE ACTMTIES 2023 2022 staff costs Mainienance expenses Establishm1 expenses other costs 31,884 75,857 23,803 21,987 29,459 95,590 21,966 19,519 166.534 GRANTS PAYABLE 2023 2022 Grant makir¥J Page 34
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 GPANTS PAYABLE- contlnwd The total grants paid to institunS duriNJ the yeaf was as fdkhvs: 2023 2022 Heallh. sttial welfare and care Sport. rerJèatkJn and leisure Educ8tion and Yth develownert Volunlary grwp5- Buikjings Voluntsry 9roup5. Equipment Vcdunlary grwps. rtdS Faith CommL¢nty. environment and hent¥ 756 19,789 10,000 58.956 19.000 7.000 21.5Tr) 11.0(MJ 34.647 6,500 59,000 1.000 152.103 The tolal grants paKI lo iThJvKWs the ywvJs as f01Th. 2023 2022 Relief in need Bursaries EducatK)n and youth kment 82,7S9 55,500 1.OSO 37.101 44.5(J) 82.185 SUPPORT COSTS Management cosis Totals Ottr Ira1wvJ ti¥eS Inv8stThnt managèment ¢osly Almsthouses Grant makirYJ GoveTnarKe 18,346 12,229 30,$75 30.575 30.575 18.346 12.229 30,575 30.$75 10.987 122,300 131287 Supp(rt costs. indwled n the at8. arp a5 fol. Managempnt Investment mana9eTrRnt costs tradry vities m>houses Clerk's reMC[all0n Bank charg9$ Othei costs 17A64 56 826 11.642 37 sso 29.106 18.346 12,229 30.575 Page 35
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 SUPPORT COSTS- ¢Mtlnu•d Manaymènt- ¢tinu•d 2023 Total 8¢IN&S 2022 Totsl a¢tivititi$ lknt makiry Go¥emanc8 29,106 29,106 94 1.375 116,424 375 111,401 419 Bank charges Other costs 30,575 30.575 122.300 121.727 Gov•rnarK• co¥ts 2023 2022 Total aclivities Governance Auditors. rvnw)8rallon Other costs 9,240 400 10. TRUSTEES, REUUNERATION AND BENEFITS Th•re werè no trustèes. rÈmunerntion or otrr beneffts frx the ended 31 Dll¢r 2023 n(* ft)r thg year ended 31 De¢ember 2022. Truste•s' expens•s There wern M Iwstees. 8xpews p8hJ frK Ihe yeaT eTrJed 31 Oecember2023 for thè year endoi1 31 DeCber 2022. 11. STAFF COSTS 2023 2022 Wages aThJ salarles Other p8nslon costs 31,342 28.964 495 31.884 29.459 The average nN)nthly of thrrry yeaTwas as fdlcms". 2023 2022 Warden$ Ipwl- ¢knsl No emplostrs reuived excess oi£eii.LKKI. Page 36
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 DECEMBER 2023 12. COMPARATIVES FOR THE STATEPAENT OF FINAMCIAL ACTMnES Unreslrthd Restri(tsd Endowment fund Total funds INCOME AND ENOOWMENTS FROII Charitable artivitie AlMhoUseS 133,935 133,935 In¥8s*meni irwj) 325.1 13.799 206.264 545.253 T<>tal 459.125 13.799 679 188 EXPENDITURE ON R¥isirvJ fvn(ts 130. 2.202 78 132.840 Ch¥Stabl• aetlvltl•s Alm>housès Grant maknng G9MarKe 196,966 264.720 41.383 264,720 41.383 T•1 633.629 2.202 78 Net gainsl{lossesl on nvestm8nts NET INCOMEIIEXPENDITiIREI Tran8f•rs b•t¥M•n funds 1874.0381 211 713 234. 1567.8471 11.207.822) 2117131 Ngt mo¥¢mont In fvnd• (fj62.325} 234.r 1779.5601 11.207.822) RECONCILwnoN OF FUNDS Tot fvn(bs brc4W f0Thr 7,280. 1.673.172 7.977,099 16,931,235 TOTAL FUNDS CARRIED FORWARD 6.618.639 I.7.23$ 7,197,539 15 723.413 13. TANGIBLE FIXED ASSETS Freehold proty Comput8r equipment Tolals COST OR VALUAnoM At 1 January 2D23 Addtbons 1000,000 1,583 1.861,583 At 31 Dernber 2023 1 867 Q26 DEPRECIATION At 1 January 2023 Charge year 1,580 Al 31 De¢enknr 2023 3.889 3,889 NET BOOK VALUE At 31 D8mber 2023 3,137 1863.137 At 31 December 2022 1.8,003 PaJe 37
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 13. TANG18LE FIXED ASSETS- contlnued Cost or valuation at 31 OecEner 2023 is raprnStad ty. Fr••hold prorIY •qulpmont Total$ Valuation 2017 Valuattjn in 2022 Cost 1.485.OIMI 375.000 1,485,000 375.000 7,026 7,026 1867 026 Thè fr6ehdd w)p8rty conststs 8nb"rÈly of gJmklhJw %thich e used lor direct charilabbo purposos. Th8 alms-hou59s IrUded in the finawKxal slalwnents al ¥akn. OrvJinal cosl is known. The alms-houses are hold by th¢ Official Cu5t(xAan of Charlies (In beh¥Jlol Ihe ch Thè AlM>hs&S were valued at 31 D¢tAnber 2022 by a pYofessKfflal valuer. valuation has been Considered by tha ttuste8s * 31 Oe¢8mber 2023. Th? rwrlies We valued regard lo Ih•r re$lrided use s Alrns-hoy8e5 w an exislry use bass. Thr8 was caulated al 50% of mathet Vall for scrfne properties and 100% forcertan stsNI-4(me prok 14. FIXED ASSET INVESTMENTS C#sh aTh setuements pending Listed Totals MARKET VALUE At 1 January 2023 Addhlons Disposals R8valuations AccumuLated Management fees Withdrawas 11,885.427 1382.045 12287N591 672,602 362.231 12.382.045) 2,2B7.459 12.247.658 672.602 403.355 166,4121 384,8021 403,355 180,4121 3B4.B021 Al 31 D¢cortthr 2023 11652.615 219 786 12 872 401 NET 8C>OK VALUE At 31 DeCer 2023 12 652 615 219 786 12 872 401 At 31 Do¢grthr 2022 11.885.427 362.231 12.247.658 ThgTe were no investment assets (MJl&de the UK. Cost orvaluallon Bt 31 De(Axbèr 21Y23 is fwa8ent ty: Cash and ttlementB pending Inv•stm•nl¥ Total• Valuabon In 2019 Valuatron in 2020 valuab.on in 2021 Valuallon in 2022 Valuation in 2023 11.84B,430 389.073 1.407,027 {1,759,1031 767,188 107,081 189.210 191,490) 157.430 11.955,511 578,283 1,315,537 11,801.6731 624,743 11652 615 219.786 12872401 The enJre portfouo was mwed by LGT Weallh MarWJeI rjn an athsory ba5iS.
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 15. INVESTMENT PROPERTY FAIR VALUE At 1 January 2023 and 31 December 2023 1 315000 NET BOOK VALUE At 31 DeceNrt)er 2023 1 315000 At 31 Decembw 2022 1.315.000 imiestmert properbes consisl of a of shcys. llats aTh1 warehouses at 5 locati¢M in Burton upon Trenl. Investsnent properties we iThded in the finKial Statents 3tvaknat. Orolnal cost Is unknown. properbes were revawl at 31 2022 ty a valuer on the twi$ of Ihe opgn rnathet value as defined ty the Royal Insbiukn of Ch•lwed Swveyor5. The ¥*uabon ha¥ bBen )rIdered by the tntslees at 31 December 2023 Far value at 31 December2023 is rekwesenw ty. Valuation in 2017 Valuation n 2022 1.265,000 1315,000 16. DEBTORS.. AMOUNTS FALUNG OUE TIIITHIN ONE YEAR 2023 2022 Rentsl thje Rentsl deposits 14,192 3,34S 20.018 20.100 3.345 5.870 17. CREDITORS.. AMOUNTS FALUNG DUE V•lTHIN ONE YEAR 2023 2022 Tr8 Thlitor So¢i81 sècurity and other tsxes Grants payable Deferred income- rents in tharKe Other creditors Accruals and deferr&J income 35.310 679 67,940 4,738 fj,891 24.013 36.638 562 82,283 11.396 S.300 20,679 139.571 156,858
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE RNANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 18. CREDITORS: AMOUNTS FALUNG DUE AFTER MORE THAN OME YEAR 2023 2022 Grants payable 19. MOVEMENT IN FUNDS Nel Transfers At 111123 in fulS 31112r23 Unrg$triGtod fvnd Genetsl fund Almsthous8s fund Extraordinary RT0p fvnd Cycl¢al Maintenm lun Grants fvnd 1.082.577 415.000 259.940 14.470 4.646.652 (123.892) 190,423 1.149.308 41 S,IXIO 2S9,940 5,330 170021 19,140) 323.369 6.618.639 190.537 190.423 6,999,599 Re¥trlcted fvnd ms-hou5e fund Exlracdwry Repair fvjn 1,308,020 599.215 1.308,020 611.345 12,130 1.907235 12.130 1.919.365 Endowment fd9 Capital fund 7,197.539 518.755 1190.423) 7.525,871 TOTAL FUNDS 16,444,835 Net movement in (d$. #KhAed in thè atKNè arè as fOlkn.. IrvJni Re¥ources Gains h)s5e5 Movement in fvnds Unrestrlcted funds General bjnd Cyclul lAaIntan¢fj lurKI Grants fvnd 460J 1584,042) (9.1401 (123.8921 19.1401 400.350 (593,182) 323.369 190,537 Restrlcted lunds Extraordinary Repabr fvmd 14.738 125.457} 22.849 12,130 Endowment funds Capital ftw¥J 191371 326.384 518,755 TOTAL FUNDS 667,459 618.6391 672.602 721422 Pw 410
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEIAENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 19. MOVEMENT IN FUNDS- conllnued Comparatl¥•s for mo¥•m•nt In funds Net Trnn$fers At 111r22 in [a$ ftJnd$ 31112r22 Unrgstrirtod fvnd$ General fund Alms-houses fuNJ Extraordinary Rèpair Totrup ftjnd Cyclal MaiitÈnance fvnd Grants fvwvj 1.039,868 320,CK#) 259,940 19,970 5.641.186 (169.(MMI 95,OLMJ 211,713 1,082.577 415,000 259.940 14.470 4.846.652 15,5Th)1 72. (874.0381 211.713 6,618.639 Restrfcied funds Akns-house lund EXtraOrdary Repair bjnd 1.028.020 280,(KK) 45,9371 1.308.020 599.215 1.673.172 234.fRJ3 1.907.235 Endowm•nt fund$ Ca131 fund 7.977.( 1567.847) 1211.7131 7,197.539 TOTAL FUNDS 16931235 1.207022 15 723 413 Comparative ngt movemwl Ind ffi Ihe at)v8 are as foknvs.. In(xxryry Gans arKI Movement in funds exknded Unr•strfCt fvnd$ General f4ThJ Alms4)ouses lund Cyclical Ma¥)tenance fd Grants fvnd 4S9.125 (628.1291 (169.0041 95,000 15.5(Kll t5.5MI 459.125 {633,6291 1699,5341 1874,0381 Re8trict•d fund¥ Alrns-house fvn(I Extraonlinary Repat fvnd 2WJ.CIJO 280,000 45,9371 13.7 202 13.799 12.2021 222.466 234,063 Endowment funds Capital ftyKS 2[.264 178) 1774.033) 1567,847) TOTAL FUNDS 1.207.8221 Pag8 41
CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS - continuod FOR THE YEAR ENOED 31 DECEMBER 2023 19. MOVEMENT IN FUtrf)S- ¢ontlnuod Unr•strlct•d fund General funds r8prg5gnt the mulated Ine ofts dlIty can be aFPld in furtherance of the objects ol the chanty at dIreti ofthe lStees. Th& trustees have designat part of these fund5 for Ir pwlrjjar wrposes.. Thè M$.hOUse$ (yrKJ is tel aside for Ihe of akn&houses in addition to those Ilsted kn Part l of the $thed4 to the chanty's goveming dccument The fund has reCenY bean us8d to purthase four bung8kys in Rangernre Street. Th8 Extraonlirtary Repair TO fund wowdes for Ihe extraordinary repair. hnrmovement rK ljI1n9 of ihe ¢hariVs 8n3-hou8es ac¢Cdar wlh Ihe rewyements of Ihe chaiity's 9)vem1 duMent. The ount set asi(Je from general fuThY8 is thal deemed necEssary over aThJ at(ve ihe sum held in rnstrfet8d funds. Thè tharity Ifansfers atnounts Into t$ aftef due cons1jerat of wde&S Isgtsd by Tho Ajms-housè Association. Thè CydicAI Mantènan¢e hJThY is sel agde to frjr the ordnary paIts and malnlenance of the ¢lk4rrty's alms-houses in n[dance with Ihe qUiremen1$ of the charws govemiro dUmenl The charity transfers amowts into th5 after due ccfflskntion of wdelw iSsLd by The Am&hous8 Associo¢ion. The Gr8nts fund is lo maintsin the truslees. cwity for makknJ into the futwe. Subject lo accvmulatvjn to maintain its ¥8$, Ihè inrx•rne is applied in meet#YJ ihe proper cosis of Ihe chath and furthering its d)jeGls whilst balanrirvJ the of present and benefviaries. R•slrfei•d fund• Thg charfty has rnstrthd •¥th repret aC0Jwlated by the chaity which can only t applred in furthgrance of sppok obieds. Thè Alms-hotsse fund 1$ restrled to the of the alm>hxtse accommCaIn specified in Part 1 of the schèdule to lh8 charity's wÈming urnl The Extraordknary Repaf lund is restrKaed to ts extrInary re[0. ryrovement cff rebuihjing of Ihe charivs alms-houses. Gains or losses cffl th• vakno of asséts held in èath of th080 rts nccrfne gerated by those assets are retained wthln e¥h Endowment funds The charity has a Capital fuThJ has ba CuM[a eAnturiÈs. It is a permanent endovment fund which requires the trustegs lo Ihe Ihe luThY kn th8 trenefit of future generatn5. gains or losses on the vue of the assets hek1 n the Capital tWKJ are retsir)8d the lund. InCe generated from assets hdd in th& ca knt arWd to Ihs 8ftSe of m•nagw¥J those assets. swplus income 1$ tran*ned to fvrKls eXtUre by iwsteos n accordance wilh th8 leC(S of the charity. 20. RELATEO PARTY OISCLOSURES [nng Ihe yearthe charity pahj £1.44012022.. £940110 Burtm Alb FLM)tb811 aub in respect of room hire. Mr C 8 Robin50n 15 chaIm of the chanty and BWIC Abion Fcthall Club. Page 42