>>> 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 31*t December 2023 CL￿OI1daIelj Chwty ol Burton u￿7 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 t*Jrton.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 Will￿m$ 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 j0hr￿M T￿$31[ LirThted 81 Burton Road Derby Derbyshire DE1 1TJ Bankors Lloyds Bank Ple 16 High Street Burton upon Trent Stafford5hire DE14 1JA Rushlon HKkman 186 Horntrr¥Jlow Slreel Bwton ￿ Trent StaffordshY8 DE14 1NG ment Mana ern LGT Wealth manag￿Tht 14 Cornhim London EC3V 3NR >>> Consolidated Charity The Truslees have pleasure in submrttirKJ It￿ re￿y1 8￿j the Financial Statements ol the Charity for the year ended 31st December 2023. The FinarKial Slalernents have been prwred ￿ accorda￿ with the accounting policie5 sel out on pag&$ 31 to 33 and CoM￿Y 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 Sta￿ard 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 cUr￿n¢ yovisitsns regulatsng Ihe PiWP05es and adminislralion of the charity ¥e ¢￿t￿1r￿ within the scheme created by order of Ihe Charity c(￿nMI$S*)n¢rs for England and Wales dated 4th April 2￿1 as amended by a special resolution passed on 14th FetrKuary 2005 arKI as amen(leO by a Spec￿ resc4utM)n passed on 41h March 2019. The charity is Un1r￿0rp¢Y8ted. Trustees The charity currently has seventeen Tnjslees With tsyo vacancies. fNe of the Trusiees are nominated by East Staffordshire BOr0￿￿h Counol. Nominated Truslees are appointed f(* a four-year lerm al a meetin9 held a￿ordIng lo the ordirffji of th8 appoinling body. Cwleé Trustees are appointed for a fve.year twm by the tntslees at a speual meekng of Ihe charity. Co-opted Truslees are persons wfK) through rewdence. o￿Up￿"0n, employment or otherwise have special knowledge of Ihe area of benefit. They ae recrurted from the nefv￿k of local conlacls built up by the Tfuslees over many years. In condL￿tir￿j the recrurtmenl process Ihe Trustees lake into account the relevant skills a￿1 expwtse of the existing bjdy of trustees wilh Ihe aim of redressir¥J any perceived weaknesses. The charity has adopted a poly of cryxlucliro a formal iNJuc1￿ process for all rM¥ Trustees. Iniiialty new Trustees are senl an information pxk ￿nt￿lThing key docAJments relating to the charity and the rc4e of a trusiee arbj Ihis ts folth*d up by a meeting wilh the Clerk to familiartse the new Trustee with the workings of ￿ tharity. the legal and accounting framework and Ihe obligaiion5 of a Tru51ee. The charity has also adopled a of ccrfKlucling an 4)TrJoing traning process for Trustees designeLI lo enhar￿e their knwle(Jge arKI urKlerstanthng of Speci￿ ￿S of inleresi and lo keep Ihem updated on current developments. Thts is carr*d out on 8 group basis arranged by the Clerk or on an individual basis through external training c(KKses wn by IndeFeTrJent bodies. AllernalNely. the Clerk may issue briefing r¥)te$ lo the Truslees. N￿e 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 AdM￿l51r811on 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 Comm￿ee. 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 eduCa￿n ￿ personal develormenl {b￿lUdIng sport and the arts) and also awards tsJrs8r*s 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 oltr￿r risks. whiLsi ensuring that ihe oty'eclNe5 and cper81ion of the charity we rkx compromised. Ouring Ihe year iisks 10 7*htch the dTrarity could have been exposed to were idenlified a￿1 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 ber￿fi the ￿ha￿"tantS of Ihe town of 8urton u[￿1 Trent and th8 r)eighbwring pwishes of Anslthv. Barion Under Nee(fr*￿od. 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 promot￿ft of 8ny chartsble wrpose Ihe provlsion of financial assistance to individua15 who are in I￿ed 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 reS￿entS 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. di￿lity. f￿anCIal hardship or other disadvant￿e. 4. To offer financial svpport lo ￿dIV￿luars, 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 *I3￿ne$S amorysi all SeCt￿S 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 b￿et 50 thai income generaied maictEs expenditure over a five-year period, tskin9 inio COnSKleratK)n exceptM)nal gains and losses In Ihe Inveslment P￿trOllo. 2. To ensure the returns from Ihe chanW5 investments meet the perf0rrna￿ tar9els spectr￿d 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 p￿tfolIO 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 mainl8w*d in gocxl condition. 7. To offer comfort ar￿ supporl lo the almshwse residents by wovidin9 warden assists￿ and an eff￿￿nI 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 educti￿n and perwal (Jevel0pTh￿t (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 s￿denIs. 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￿ ber￿frt. 11. Adopt a revised Investmenl Statement wh￿h is robusl and effe￿1ve. trate ies&Si nificant Activities In order to acti1￿e Ihe obJ"ecbves, the trustee5 adopted the fo1￿￿ng straleges carried out ihe following signif￿an1 activities.. The Main Committee monii(ffed the range and dislr1but￿n of granl applications from organisalions and in each case con5idwed whet￿r 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 W￿ld be of wblic b￿￿fft. The Polity & Restyjrces Sub-ctxnmbltee examined dglailed Ma￿gement 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 & Resourc*s Sub-C(xnmittee condutted a review of the Charity's commercial property insurance affangements aThJ the Pfovision ol Irustees. indemnity insurance. The PoI￿Y & Resources Sub-commitlee lia￿d 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 regul*ly lo manage the demand for Ihe relief in need grants scheme. The Small Gr8nls Sub-committee also liaised wth local $UPF￿1 agencies lo omole the scheme and ensure it remained relevant and useful to those beneficiaries most in need ol assista￿e. The Almshouse S￿￿COMMittee met wlay lo exercise control over Ihe management of the alrnsh￿Se properties aThJ review ihe welfare of Ihe alms1￿lse resid8nts. During the yew the Almsh¢use Sub-committee conlirMJed wilh the refurbishfflenl schedule as propertie¥ became vacant and appointed r￿ resKlenls lo available tKoperties. The Almshous8 Sub-committee also had responsibl￿ for managing the em￿OyMent ol wardens al￿ conducted appraisals of their perfom18nce and managing the operalior) of Ihe communty call syslem. The Educal¥onal Sub-committee met regulwty lo consKler Ihe ijperalion of Ihe educal¥)nal grants scheme. The Stsb-commitlee aLso feviewed the working of the bursary stheme and liaised with headleachers and h￿$ of sixlh fc*m on an ad hoc basis. >>> Consolidated Charity Grant-makin olicies The TfUStee$ confimi they have referred to ttr￿ Charity ComMiss￿n,$ general wHiance on publ benefil when setting the charity's granl-making W￿leS. For each scheme, the Trustees aim to make ts aPpI￿al￿)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 di￿re¢lOn %then considering the merits of any, part￿￿lar applKalion. A. GRANTS TO ORGANISATIONS Ap￿Icall0ns for grants from Orgar￿SaIlOnS 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￿$. H8allh, Sooal Welfare a Care Sport. Recreation & Lwsure Ethjcalion & Youth Devebpmenl Vdunl¥y Gr￿1p$- Buildin9S Vdunlary Groups- Equiwnenl VcAunlary GrtyJps- Cfvheads Faith Community, Environment81 & Hw4t8ge The overriding pn"nciple is that each grant ap￿￿1￿7 should be wnsidered on Is meriis. The TrLtste8s, wrthoul fettering lh￿ disc￿l￿)n. consider the folknving questK)ns when considering the merits of an applKation: Whal FffOPOrtion ol the beneffioaries are res*Jent in area of bene How many benef￿￿rI¢S ore Ihere likety lo be? Is the appli￿nI based in the wea ol benefit? How needy Is the ¢NganisatKthef¢taries? How essenlol is Ihe rtem applied for lo the running of the organ￿a￿On? 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 fu￿Ing from elsewhere? Where the applicant is a dub wrth members. have they g&*raled Some of thgir funds for themselves? The Trvslees also take aCC￿nI of the past hist￿ of appI￿al10Ths and awards to the applicant. Th15 indudes publiryty given lo charity. comFAorKe with grant monitorin9 WOC8dures and the impact made by pr8wous ￿an1$. >>> Consolidated Charity B. RELIEF IN NEED GRA￿s The Relief in Need ¥Yanl scheme is for people ￿ drfthl cwrJJmstartes who are in need by reason of ill-heallh, disability, financi￿ hardship or o¢hef dtsadvanlage. The scheme primarily provides th"nan¢ial assislance f(x I1￿￿e in need lo purthase essèntial ilems such as,. Cookers, Iridge freezers and washirKJ machir*s Carpets. fwThture arKI bedding Mobility aids School uniforms. AJI 4)plications musl be acc(Mnpanied by a ￿tter of suppNi fr(m a suppM wryker or other suitable ofes5ional and FYovide of inc(Mme experKlitwe. Applicalw)ns are C[￿sid8r8d by the Small Grants SutFCommillee ￿ an on￿lf*j basis. To prevent abuse of the system the trustees have adopted the Idlo￿ng gurfjelines.. The Trustees wll not award granls lo clew debt. The maximum award lor al ilems is £7X> per year. A maxlmum of three app4￿alK)ns wll be awarded in a fNe ye¥ per￿d. C. GRANTS TO INDIVIDUALS FOR THE ADVANCEMENT OF THEIR EDUCATION OR PERSONAL DEVELOPMENT (INCLUDING SPORT AND THE ARTS) Applications are considered by the Educ81ional SUlFc￿mitlee an ongoing basis. Ctear evldence ol the need for finarKial support musl be demonstrale(l. The maximum award is £300 in any ore year Applicants n¥Jst provide eviderKe th81 tw have a Fla¢e ￿ the ¢tyJrse. event or wii8Ct f¢x which they are seeking assistsr￿¢ >)> Consolidated Charity D. BURSARIES Applications are consKJere(I by the Educational Sub-committee. application5 musl be accompanied by 8 personal statement from aOKarit and a COnf￿ential supporting slalemenl from the school or edlege. Bursaries are only paid for three acaemic yews of a degree cowse and payments will be made during Pa￿ Flacements. Payments will On￿ be made rf the apdicant provides evidence that saiisfaclory progres5 is being made t￿ough(￿J1 the course. A maximum of f¢xty tsjrsaries are awwded yew {but n excepih)nal cr¢um$tances Ihis may be increased al the discretion ol Ihe Trusleesl. When cO￿￿eTing 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 l￿dgele(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 Invest￿nI 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 organisat￿l 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 In￿rne 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 fin￿la1 investments The capilal value of the financial investment portfolio increased by 5%. Consolidated Charity Almshouses ms￿lUSeS 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 I￿peCt 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 rnaIntena￿e and upkeep of the dmshouses. The trustees have nmilled lo a complele refurbi8hmenl pl￿aMMe 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￿￿ MaIntena￿e Fund £5.330. The Trustees also made provision of £259.940 via the Exlraofdin Repair Top-up Fund. al The residen15 are Ch￿ed an average weekty mainlenarte contr1￿110n of £105 per week. 12 >>> Consolidated Charity Grants to Individuals A. RELIEF IN NEED ¢harity recC￿niseS Ihal many peo￿ can I￿5￿¥¢S in diff￿111 c4rCumsta￿8s often 1hro￿h 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 appliCat￿n 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 re￿dent 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 stud￿t ￿ants arKi the IntrOd￿t￿l of luil￿n fees. The $C￿a01$ and colleges included in ihe bursary scheme are Abbot Beyne School. Burton and s￿th Derbyshire District College, De F￿reT5 Specialist Tectwsolo9y College. John Ta￿Or H￿h School. Paget High School. Paulel High Sc￿￿1 and Derby GrawKnar Schcd. This year Ihere were 45 appI￿ants 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$sFStan￿ from I￿￿￿￿u31S for a Variety ol other purposes widuding.. Further education and vocational traiThng Overseas trips personal developnwnt SpcKts aclivrties Arts s¢holarships S grarts were awarded thts year totallng £1,050 (2022.. 3 syants tolalling £5841. 13 >>> Consolidated Charity Grants to Individuals 2023 - Values E90.(KJn 00 80.000 00 r70 000 00 £Eo 000 00 ESO 000 00 [40.000 00 130.000 00 120 WO.VQ f10 QOO.00 FO.00 De%*loi>rnen-. Grants to Individuals 2023 - Percentages Iii f4ee IlSOI¥ EUvc•iio.'i & Pe15011•1 De'it￿1)111ei". 14 >>> Consolidated Charity Grants to Or anisations Numerous organtsalions such as churche& regtsterad thari1￿ and voluntary groups request help towards variOUS wo1￿1$. 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 ca￿101 and revenue grant$. Some organisab.0￿8 that ask for help oper*e outshle the chan"ty'5 area of benefrt twl still provide vilal help or servKes for the resrfients the area of benefit. Gran15 made lo such organisalions e calculated on a rKoport*Jnale basL% Grants totalling £97,045 were awarded lo (Kganisabons durirry ts year with É35.940 oulslanding al Ihe year end 12022.. £152.103 wth £41.784 (*Jtslar¥Jing). The TfUStee$ *Ere satisfied with the $￿ead of ￿an15 which were aTratysed as folkws.. Grants to Organsations 2023 - Values •Vk) C.¢Jti-11 15 Consolidated Charity Grants to Organsations 2024 - Percentage lJulLin(ar' ￿11)11p5 Euts¥*iieill e11 Ilh Social VI￿11&..￿ Jn(:Cwe Gro￿$) 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 sIgn￿C￿nIty to mov8 to a space of our own lo wilinue lo grow Ihe needed SeTh￿e. Wrfhoul th￿ grant we uld not have r￿ls￿￿d the year in an acceptable po$rt￿n fjnancialty. Jan Appletrfft. Director orts Recreation and Leisure Able Too Forum-£5,288.75 It's enal￿d Able Tw Io enter lull leams Ihe league artd ptsy&rs lo be able to exK*rtence 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 g￿ng fcThiarLI. al the samg bm8 as wowding lun. 8cIMt￿s forpeoplo 10 ty. Emma Vafnam. Ccmmrtlee Member Tutbury Cricket Club - £5.000.00 17 >>> Consolidated Charity UC Dance Parents Committee - £2,500.00 Was $0 urwcylanf. provO8d essent￿1 kit untsm 8ndcosiumes for Ihe darKers. Could nol have 8ch*v&d withotsl support. AmarKla SkevingtorL Cha houl the syanl *E MJuk* nol ha￿ l)een able to 981 matched funding andthe woiecl would have happened. John Pollard, Committee Member Burton Amateur Boxing Club £2.000.00 Scroplon Riding School for Ihe Disabled - £5,000.00 We have purchased a new horse for our centr8 Usiry the grant 9iven by the Consol￿01ed Burton. He will be able lo help our riders ogress theY skills and broaden Ihe exper*nce. He is gwd rta1ur￿ and will also be suilable for some of our more therapeut￿ r￿er$ 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 Prod￿li0n$. 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 prov￿8 the peo*. resources ond equipment. R E Myers, Community aThJ ParI￿rShIpS 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 c￿SO1￿1818d 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*pn￿nt 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 maintsir*d 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 revie*td annually by the Polry & Res￿r￿ 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 reC￿aniSed the need to designate certain amounts held within G8neral FurKls lo meet future commilmenls. The need for these DeSI￿ated Funds aThJ the amounts designated are reviewed annually. The ch&ily's gOVernK￿ doCUrT￿t 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 the￿f0￿ 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 ¢h*ity's governing dwmenl the trustees have designated funds to meet future commitments the cydinary repairs and maintenar￿e 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 benef￿1￿5. Al the erKI of the ye* the sum held in the Grants Fu￿1 was £5.174.231. 21 >>> Consolidated Charity The Amshouse market value on 31Jl December 2023 was £1.860.(W. The Commercial inveslmenl propert*s on 31• Decernt¢r 2023 wa5 £1.315,IK)O. Investment Poli The Tiustees, inveslmenl obJeclNes are lo seek a bdarKe be￿en iKorne and capital growlh whilst being exposed lo a Mediur￿19h 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 su￿COmm￿tee. 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 Ir￿Me though not lo jeopard15e Signif￿llY capital growth. >>> Consolidated Charity PLANS FOR FUTURE PERIODS The almshouse refurbishment programme is to continue as and when wry)ert*s 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￿￿￿ ReFK*t Ihe fina￿la1 statements in aCC￿danCe with appl￿ble 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 re9￿￿e5 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 per￿d. In preparing Ihese financia statements, the Tr￿ste¢S are required to: Sdecl suilatAe ￿untIng poliw a￿1 kn apply tt￿1 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}a￿la1 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 a￿nting records vthich disclose, wlh reasonable accuracy al any lime. Ihe fina￿131 FK)srtion of the Ch¥ty ar￿ lo enable them lo ensure that the fina￿181 statements comply with the Charlies Acl 2011, the Charity (Accounts and Rep(Yts) Regulat￿n$ 2008 a￿1 the Provisions of ihe trust deed. we also reswnsible for safeguarding assets of the charty and hence for lakirvJ reasonable steps foi the wevenI￿n and ¢818CtJon of fraud and olher irregulant￿$ This report was approvod by the Tn￿tee$ 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 fin￿cIal stat￿ents 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 aeL￿ntI)g poliuès. Thè ffinaneial reporting tramv￿ tho1 applie¢J in Iheir p￿paral￿)ft is appkable law arTrd Ur¥ted kn"rwJ(Jom A￿o￿nI1￿ Standards (United KI￿j￿0M Genernlly A¢ceptsd A(ry￿bry pr￿1￿￿). 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 Kryd￿l 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 a4K*t in ac(xwdance Intemational Sknjards on IUKI {ISAs (UK}) and apFAicable law. Our respon&biIil￿S under those standwds are fijrther descthd in the AL*knrs' ￿$￿￿SibIlitI% for the audit of the financial statements 5e¢tion of ovr rewNt. We are IndeP￿rt of the charity in aCCord￿ce wilh the elhical requirements Ihat are relevant tr) our audit of the fin*Ki* statements in the UK. the FRC'S Ethical Slarnlard, ar￿ we have fulfiled our othèr 8lhieAI résponsibilit￿ these We beheve that the autht avidènts we have obtsined 15 suffKaenl arhd 8ppropn.ale lo wov•* a bags hy our 0pwiic￿. Conclusions r•l¥ting to going ¢oncem In audkling thè financial statements. we have that the I￿￿ees. oflhe gThTrJ corKem basi5 of accounlrvJ in ts* prèparation tsf thè finan¢ial statements is appropnate. Based on work we have perf(MThwd, have r￿1 NJentff￿ malerid ￿￿ertaI￿leS th¥vJ to events or coThYitions that. individualy Of ¢o11ocb'vety. rnay (3st significant dwbt ￿ the chm's abmy to contwiue 88 a g¢irvJ concem for peri¢￿1 ol at least mmths from wthen the financaal SLi1en￿ts are authorrsed for is￿. Our rgsponwblili9s a￿j the rpsponsiknlilies of lh8 tfU8tee8 wilh respecl to wirwJ (x)rKyn are (knsuited in the relevanl sections of this report. Oth•r Infomiatlon The trusle8s ar¢ rgspons*)le lor the ither inf0m18t￿n. Tho othor information ciknpw Iho ink)rnatKtrn indud8d in the Annual Report, other than the finaw* slalemerts arKI our Rewrt of Indepervjgnt A￿￿tOrS t￿re0￿. Our oplnlon on Iho fthiancial slèt8m8nts does not ¢(Ner olher Infrmil￿ and. ex¢ept io thè extent oth8rMY89 expl￿￿tlY statad in our Trport. we do notexpr8ss k)mi of thÈr￿n. In COnn￿￿On with OLW aui*t of lh¢ fin*Gial StatW￿nts. our respNJnsiMkty ￿ tQ Teal the other infornalion arKI, in dow so. consider whethei Ihe 0￿r Infc*mation is m*rialy i￿￿$tent the finarKk41 Statements or our kno￿￿edge 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 F*for￿. 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 loUtr*iThJ mattets where Ih& Charities Ifvuounts Reports) Regulations 2008 requires us to report (o you ￿. in our 0￿￿on. the infom)alion given in the Report of the Tnlslees Is I￿Onst$l&m In malerial ￿spect wmh the fmancial statements., or sufficient accounting records ￿ve not been keF( or the financial stalefflents we in agreemont with Ihe accourding r8c¢xds and retums: or we have not r￿e1ved al the inlomiatKffl and explarolwms we reqwe frx ow R•spon¥lblliti•$ of truBt• As eX￿ained 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 C￿0 to fraud or èrror. In prepaiing the ￿na￿l81 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￿[ irtw*J 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 S￿t￿)n 144 of the Chan(ies 2011 and reF*Jt in •t￿l￿anCe wlh the Acl and refevant regulations m&Je or haviro effect thereunder. Our objeclwes are lo obta"n reascffiat4e aSsUra￿e aL￿J1 *theiher the statements as a whole a￿ free Irom material misstatement, whether due to fra￿j C￿ error, lo IS￿ a Report of the Independent Auditors thal indudes OLtr opinion. Re850neknle assurarKe is a h￿h revel of aSSUrar￿ bul is not a waraniee Ihat ￿ aL￿1t conthjcted in accordance wih ISAS IUKI will a￿ayS 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 prc￿e￿￿¢S are capatAe oftkndww IrrwJ￿arkns. frnud L8 thIal￿d tr￿10￿. Irregularit￿$, ￿&￿Jd1￿j fraud. arg inSla￿ of r￿-com￿lIance *ryth laws and regulations. We design pmc8dLwes in lin& with OUT responsib"lities. outtined atthie, to detect material misstatements in res￿1 of irregularities, including fralwj. The extent to %thich our W0￿ur¢S are ¢•abk ofns throughoutthe au(til including tr￿se relathng to the ￿n￿la1 statemen A furlher dtsxripbon of our resp)nthilities ￿￿11 of the f4ianoal *aterwits is lothd on It￿ F￿a￿al Rew)rtiryJ Couneil'$ webtAie ai vNov.frc.Cry.ukla￿htc￿￿8SF￿bllI1es. TNS thsrJl)kn fomis part 0f￿r 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 aUthic￿s. 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 A￿JitOr 81 Burton Ro&1 Derby Derbyshire DE1 1TJ dmin ior Ststutw A￿Slor) 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 Invesln*nt 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 Gr￿1 making Govemance 160,817 266,929 41.562 184.106 266,929 196,966 264,720 Total $91182 25,457 635,￿9 Nst gain￿1￿)$88$I on invest￿nts 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 $29.813 29,315 567,368 477,610 CREDITORS Amounts falbr*J due wthm one year 17 1139,5711 1139.5711 1158.8581 NET CURRENT ASSETS 427.797 320.752 TOTAL ASSETS LESS CURRENT LIABILITIES 7.033.1199 1.919.365 7.525.871 16.478.335 15.743,413 CREDITORS Amounls falling duè after morè than one year 18 133AOQI 133,5001 120.0001 NET ASSETS 6,999.599 1.919,365 7.525,871 16,444 835 1S.723.413 FUhlOS Unrestricted l￿dS Restricted funds Endowmenl luThJs 19 6,999,599 1,919,36S 7,525,871 6,618.639 1.907.235 7,197.539 TOTAL FUNDS 1fj.444.835 15.723.413 The fina ial slalement5 were appro¥od by IM BO3￿ ol T￿￿te85 and aulhorised for issug and We￿ &gned on ils behaff ty.. Mr C B Robinw - Truslee The nole5 k)mi part of these ffinanc4al stalements Pa9e 28 CONSOLIOATED CHARITY OF BURTON UPON TRENT CASH FLOW STATEMENT FOR THE YEAR ENOED 31 DECEMBER 2023 2023 2022 Cash flows from op•ratlng actl¥ttl•s Cash gènerated from (4)erations 575.3811 Net cath used in operab"ThJ &bvibes 575 3811 Cash fl4)ws from Inv•siing xtivltl•8 Purchase of tan&it4e fixed assets Purchase of fixed asset inv8str)wnts Sal8 of fixed asset inveslments 15.4431 1132,0841 57.656 428,828 47,8 407.563 Not eash WOVK18d by in￿SI￿d 8CtMI Cash fl¢yws from financlng act5¥lth• Income attributable to eThlov•rnenl Expenditure attribut*le to endowment 192.371 206264 781 cash provided by fThnciThJ aclmlws 192 371 2[￿.186 Chang• In Cash and cash •qUI￿1•n￿ In th• reporting pèriod Cash and cash ￿ViVal￿nts al the bg9Snnlng of th¢ r•portlng pwlod 81.518 {14.7951 463.090 C•Bh and cash ffjuivalent• at Il* end ol th• reporting period 529.813 The notes frym pwt of Ihe5e f￿a￿la1 &atements CONSOUDATED CHARITY OF BURTON UPON TRENT NOTES TO THE CASH FLOWSTATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 RECONCILIATICX4 OF NET INCOMEI(EXPENDITUREI TO NET CASH FLOW FROM opeRATING ACTIVITIES 2023 2022 N¢t In¢omgll•xp•ndllurn) for tho r•p(vliDg pwlod (aF per th Statèmént of Flnancial ActlYltl•sl Adju$tn*nts for: D8preaation chargos {G8inWosses on ￿VestMents Interest rece￿￿1 IncLKne attributable to endowTnent Expendiiwe atthb￿b￿ to endcwtwt Increase in debtors {0ecreasey￿CreaS8 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 b￿n￿sS addrèss w be ifi thÈ rèlÈrÈr¢A and admir*strativÈ 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 Ch￿itIes.. Statement of Recommended Pracbce aF*able to chaiib.es Fffeparng th￿r accounts in acCOrdar￿ with the Financial Reporting StaThY#rd applu1￿e in the IJ( and Republic ol ITel￿d (FRS 1021 (effective 1 January 2019)., Finanaal Reporting Stsndard 102 The Fina￿jaI ReFM)rtry Starhyard applicable in the UK and Republic ol Ireland. the charit￿S NLI 2011. The fina￿la1 statements have been ￿epa￿d under the histo￿81 cost convents)n, *ith th8 excepl*)n of investrnents %thith are at market vthe. as ft￿thfied ty the revaluation of certain as6ets. The finan(#81 Slatements a￿ prepar￿ in slerfng is the CLwrency of the charity. Monelary arnounts In these fina￿1* Stat￿￿ents 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 prOper￿eS. weekty contributions from its 8lm$-hwses arKI ¥we5tment nccrfne frcrfn its extensive [￿rtIo￿O. To date, no material wcertainties exist that would afféct lh& prq>aralh)n ofthe finar￿￿1 ststements a going concem bass. Incom All ir￿orne is reGognised in the stateme￿ of Fina￿la1 Adi¥ities On￿ Ihe charity ha5 entiuement lo the funds. it is probable that Ihè income wll be receNed, and Ihe ￿￿o￿nt can be measwed reliably. Donab"ons. legacies aWKI simlar reswrces are I￿￿KIed in ts year in *thich they awè r8ceNable, V+ts¢h is when the tharty becomes lo the r950wce. Incornè from quolad investm￿ts 8nd wrtere5t c¥) slKffl term deF•)￿ts 15 account￿ f(Y in the year in which il is recefvatrAo. Rental irtome Is in the perKKI to vthh it relates. Amwits recewed in advance 8re ¢jel8W￿ lo the followng pèiiod. EX￿ndIt￿r Liabillties are rec(wJnisei1 as expgn(Ilure as t1￿ 15 a leg* or (￿￿ctIVe obligalK)n G￿n[l¥ll1ng the charity tr> that exwiditure. it is pr(thble that a trarfv of beneffts will be ￿q￿￿ed in settlemenl and th8 amount of the obloation can be rneasu￿ rekw. Expendihlfy 1$ act￿￿tsd for on an aten￿1$ b8si5 aNI ha5 b8en dasstfied uNJ8r headings th41 *Jgregal8 all ¢ost r8l*ed lo tho calagory. thgr8 costs cannot bè direclly attributed to parbGLtsr head￿9s. Ihey have been allocatsl k) activities on a baws consislenl with the use of resources. Grants offèred SL*48d to ¢￿IlbOnS have rnl boen m&t al year date ￿ Njted as a cornmitinènl but not as exp￿rty￿. Ralslng lunds This relat8S to direct 8XP8rK1Iurè in •)d m•nt*"tirth3 tP* invèstments plus an 8pfMir￿ftMÈn1 of $UFWrt ¢osts. P¥31 CONSOUDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS - continu•d FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POUCES- contlnued ¢harltable #¢11￿lIeS Thss rÉL4tss to oxpenditwe ￿ grants and threcl e¥F￿￿tUre incurred in Ihe provisicfft of almsthuse 4ccwnm￿1￿Yn plus an appc¥tiorynenl of sUp￿rt costs. Grants payable are charged in the yew we a￿rd￿J. Gav•rn¥tt¢o costs Govemance costs are threct expeThkn in th8 govemance infraStr￿tUr8 which allows tha charity to operate and to ge￿rat• Ihe infom1alK￿ rwired for public aCC￿nt8￿￿ty an apportionmènt of supwvi costs. Allocati¢n and apportlafiment of costs Support cos(s represent the genernl manag8m8nt aThl ad￿￿NStr￿on oxls of the charity. TW ¥8 41(Kate(I lo the relevant cost caleLw on the basis oftim8 incurr8d as fcknts". Raising fvnds.. Fina￿1* inveslments Inveslment propert CharilalAe acivities". Grant makiThJ ms-houses 25% 25% Governance 25% Tonyblo flxed assets Freehold property 15 induded at a I￿r vaW•Jn and ￿ rmviSi￿ for deprecia￿On has be8n ma(k as It Is considered that market ¥￿Ve is not kss I￿ cost. The freth)bJ prcfety is revalued every S years. The ￿$t of clher tangljle fNed assets 15 *Yitlen c4tin e4wal overa Fen"c*J offr)ur years. Invo$tm•nt property Investment prop8rty is shown at most recwrt vahjakn. Any agJregate sU￿LL8 or deficit arisr¥J from changes lair value 1$ recognised in the Ststement of Fina￿al Actrwt￿s. Investrnenl propert￿ we I￿vded 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 In￿StM￿nts are ststsd at a f* atthe bal￿0 shoot dats 8nd 80 revaluod *nu*ty. Gains and k)ssès dwosal a￿1 revdual￿ of m¥es￿nIS 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- Con￿nu•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 as*Je at ihe th$￿￿on oflhe Injstees for wifK purposas. Endowmént fijnds must be ￿tsined by the charity aThJ Can￿t be spent. The Inco￿ g&)erated from the assets hel(J in Ihese lunds Is first wlied to the cost of minta"n¥wJ thcsse assets. SUrp￿s incom8 L8 avall8bl8 for expendiluTe by the trustees in accordarKe *iih the *cis ofth8 charity. Pèn•lon ¢ost¥ and other post.retlrement benefits Thè charity operates a defined conln"bution pension scheme. Contributions payable to the charity's wnsion scheme are charged to the stat￿ment of Financial knIt￿S in perM)d to which they relats. Fin•ndal Instruments Financial instwments are daSsir￿j acc￿￿￿ed for, ￿1rd*¥j to sybstan(e of Ihe wtrJGtual arrangernenl. as ether finwcial assets. Irablilies ￿ er81ty instmmenls. An equrfy In$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 DIV￿endS afKI inlefest 119,951 116.425 428.828 527 514 545 253 INCOME FROM CHARITABLE ACTMTIES 2023 2022 Ti)tal Alms4K)USeS Weokty maIntenar￿e contribulons 139,945 133.935 RAISING FUNDS 2023 2022 Investment management fees Maintenance eX￿nSeS 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 aetlv1t￿s 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 Establishm￿1 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 institu￿nS duriNJ the yeaf was as fdkhvs: 2023 2022 Heallh. sttial welfare and care Sport. rerJèatkJn and leisure Educ8tion and Y￿th develownert Volunlary grwp5- Buikjings Voluntsry 9roup5. Equipment Vcdunlary grwps. ￿rt￿dS 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 ￿￿k￿ment 82,7S9 55,500 1.OSO 37.101 44.5(J) 82.185 SUPPORT COSTS Management cosis Totals Ott￿r 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.$75 10.987 122,300 131287 Supp(rt costs. indwled n the at￿8. arp a5 fol￿*￿. Managempnt Investment mana9eTrRnt costs tradry vities m>houses Clerk's reM￿C[all0n Bank charg9$ 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 otr*r beneffts frx the ￿ ended 31 D￿l*l¢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 DeC￿ber 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 AlM￿hoUseS 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 G9￿MarKe 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 f0Th￿r￿ 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 pro￿ty Comput8r equipment Tolals COST OR VALUAnoM At 1 January 2D23 Addtbons 1000,000 1,583 1.861,583 At 31 D￿ernber 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 D8￿mber 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 OecEn*er 2023 is raprnS￿tad ty. Fr••hold pro￿rIY •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 gJmklh*Jw %thich *e used lor direct charilabbo purposos. Th8 alms-hou59s Ir￿Uded in the finawKxal slalwnents al ¥a￿kn. OrvJinal cosl is ￿known. The alms-houses are hold by th¢ Official Cu5t(xAan of Charlies (In beh¥Jlol Ihe ch Thè AlM>h￿s&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$lrided use s Alrns-hoy8e5 w an exislry use bass. Thr8 was ca*ulated al 50% of mathet Vall￿ for scrfne properties and 100% forcertan stsNI-4(me prok 14. FIXED ASSET INVESTMENTS C#sh aTh setuements pending Listed Totals MARKET VALUE At 1 January 2023 Addhlons Disposals R8valuations AccumuLated Management fees Withdrawas 11,885.427 1382.045 12287N591 672,602 362.231 12.382.045) 2,2B7.459 12.247.658 672.602 403.355 166,4121 384,8021 403,355 180,4121 3B4.B021 Al 31 D¢cortthr 2023 11652.615 219 786 12 872 401 NET 8C>OK VALUE At 31 DeCe￿r 2023 12 652 615 219 786 12 872 401 At 31 Do¢grthr 2022 11.885.427 362.231 12.247.658 ThgTe were no investment assets (MJl&de the UK. Cost orvaluallon Bt 31 De(Axbèr 21Y23 is fwa8ent￿ ty: Cash and ttlementB pending Inv•stm•nl¥ Total• Valuabon In 2019 Valuatron in 2020 valuab.on in 2021 Valuallon in 2022 Valuation in 2023 11.84B,430 389.073 1.407,027 {1,759,1031 767,188 107,081 189.210 191,490) 157.430 11.955,511 578,283 1,315,537 11,801.6731 624,743 11652 615 219.786 12872401 The enJre portfouo was mwed by LGT Weallh MarWJe￿￿I rjn an athsory ba5iS. CONSOLIDATED CHARITY OF BURTON UPON TRENT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 15. INVESTMENT PROPERTY FAIR VALUE At 1 January 2023 and 31 December 2023 1 315000 NET BOOK VALUE At 31 DeceNrt)er 2023 1 315000 At 31 Decembw 2022 1.315.000 imiestmert properbes consisl of a of shcys. llats aTh1 warehouses at 5 locati¢M in Burton upon Trenl. Investsnent properties we iTh*ded in the fin*Kial Stat￿ents 3tvaknat￿. Orolnal cost Is unknown. properbes were revawl at 31 2022 ty a valuer on the twi$ of Ihe opgn rnathet value as defined ty the Royal Insbiukn of Ch•lwed Swveyor5. The ¥*uabon ha¥ bBen ￿)r￿Idered 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 Tr￿8 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 fu￿lS 31112r23 Unrg$triGtod fvnd Genetsl fund Almsthous8s fund Extraordinary R￿*T0￿p fvnd Cycl¢al Maintenm lun Grants fvnd 1.082.577 415.000 259.940 14.470 4.646.652 (123.892) 190,423 1.149.308 41 S,IXIO 2S9,940 5,330 170021 19,140) 323.369 6.618.639 190.537 190.423 6,999,599 Re¥trlcted fvnd ms-hou5e fund Exlrac*dw￿ry Repair fvjn 1,308,020 599.215 1.308,020 611.345 12,130 1.907235 12.130 1.919.365 Endowment f￿d9 Capital fund 7,197.539 518.755 1190.423) 7.525,871 TOTAL FUNDS 16,444,835 Net movement in (￿d$. #KhAed in thè atKNè arè as fOlkn￿.. IrvJni Re¥ources Gains h)s5e5 Movement in fvnds Unrestrlcted funds General bjnd Cyclul lAaInt￿an¢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 Cycl￿al 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 EXtraOrd￿ary 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$ Ca￿131 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 exk*nded Unr•strfCt￿ fvnd$ General f4ThJ Alms4)ouses lund Cyclical Ma¥)tenance f￿d 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 FUtr*f)S- ¢ontlnuod Unr•strlct•d fund* General funds r8prg5gnt the ￿mulated I￿ne ofts d￿lIty can be aFPl￿d in furtherance of the objects ol the chanty at dI￿reti￿ 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 $thed4￿ to the chanty's goveming dccument The fund has reCen￿Y bean us8d to purthase four bung8ky￿s in Rangernre Street. Th8 Extraonlirtary Repair TO￿￿ fund wowdes for Ihe extraordinary repair. hnrmovement rK ￿l￿jI1￿n9 of ihe ¢hariVs 8*n3-hou8es ￿ ac¢C￿dar￿ wlh Ihe rewyements of Ihe chaiity's 9)vem1￿ d￿uMent. The ￿ount set asi(Je from general fuThY8 is thal deemed necEssary over aThJ at(*ve ihe sum held in rnstrfet8d funds. Thè tharity Ifansfers atnounts Into t￿$ 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 d￿Umenl The charity transfers amowts into th5 after due ccffls*kntion of wdelw iSsL￿d 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￿$, Ihè inrx•rne is applied in meet#YJ ihe proper cosis of Ihe chath and furthering its d)jeGls whilst balanrirvJ the of present and benefviaries. R•slrfei•d fund• Thg charfty has ￿ rnstrthd *•¥th repre￿t aC0Jw￿lated by the chaity which can only t applred in furthgrance of sppok obieds. Thè Alms-hotsse fund 1$ restr￿led to the of the alm>hxtse accommC￿aI￿n specified in Part 1 of the schèdule to lh8 charity's wÈming ￿￿urn￿l The Extraordknary Repaf lund is restrKaed to ts extr￿Inary re[0￿. ryrovement cff rebuihjing of Ihe charivs alms-houses. Gains or losses cffl th• vakno of asséts held in èath of th080 r￿ts nccrfne ger￿ated 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 generat￿n5. gains or losses on the v*ue of the assets hek1 n the Capital tWKJ are retsir)8d the lund. InC￿e generated from assets hdd in th& ca￿ knt arW*d to Ihs 8￿ftSe of m•nagw¥J those assets. swplus income 1$ tran*ned to fvrKls eX￿￿￿tUre 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