2023-03-31-accounts - Fuel Allotment

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Chartty Registration Number 240061 SUNNINGHILL FUELALLOTMENTTRUST Known as The Sunninghill Trusv Report of the Trustees and Financial Statements For the Year Ended 31 March 2023

Charlty number: 240061. Fuel Allo1 Tru51 Report of the trusteesfor the year •thd 31 Marth 2023 Trustee< Report CONTENTS Charity Clerk and Correspondent Trustees Independent Examiner Structure, Governance and Management Objectives and ActNltles Achievements and Perfomlan Financial Review Statement of Financial Activities Balan Sheet Notes to the Flnanclal Statements 8-13 Independent examlner's report to the trustees on the unaudited finonclal statements of The Sunninghill Fuel Allotment Tnst I-IER

Charity number: 241I)61. nn111] Fuel AllotrrtTrusl Report of the trusteesfor the ye¥ aad 31 Marth 2 Charity Clerk and Correspondent Clerk: Jodie Wilson Sunninghill Fuel Allotment Trust PO Box 4712 Ascot Berkshire SL5 9AA Trustees William Dalton Wayne Phelan Matthew Barnard Shojo Njarle Position vacant (Chairperson and Nominative Trustee) (Nominative Trustee) (coPtrIe Trustee) appolnted 26 September 2022 ICo-OPtative Trustee) (Ex-officio Trustee) Custodian Trustee- title to the Charivs land is vested in the Offidal Custodian for Charities. Independent Exarnlner Timothy KinBcott ACMA A Kingcott Accountants 19 Brockenhurst Road Martins Heron Bracknell RG12 9FJ Trustees present their report and the financial statements for the year ended 31 March 2023. The trustees who served durir8 the year arKI up to the date of this report are set out above. Strurture, Governance and Management The Charity is an unincorporated trust which was founded in 1817 by an Inclosure award made under the Windsor Forest Inclosure Act 1813. and is currendy regulated by a Scktme of the Charlty Commissioners dated September 1980. The Scherne provides for a body of fNe Trustees: one EX10 Trustee. two Nominative Trustees and two Co-optative Trustee The Ex-officio Trustee is the Vlcar of the Eccleslastical Parish of St Michael and Angels, Sunninghill. The Revend Tansley Jordan will be officially appointed in COMI months. and In the meantime the curate. Reverend Sarah Mortimer, has been standing in. The Nominative Trustees are appolnted by SunnSnghill & Ascot Parish Council. the temi of each appointment being four years. Wayne PheLqn is a Norninative Trustees and has just completed hls second four year temi. He has indicated his willingness to continue in the role. having stepped down from the Chair role with effect from 3 Aprfl 2023. William Dalton is the second Nominative Trustee who has been in the role for two years and who took ¢)ver the Chair role from Wayne. The Co-optatNe Trustees are appointed by the existing Trustee body la5 vacancies occur}. and they re drawn from the local community. The temi of Offi for a Ctroptative Trustee is ftve years. Karen Clements stepped down and was replaced by Matthew Bamard on 2@ September 2022. Shojo Njarlety is the other Co-optatbve Trustee.

Charlty number. 240061. 5unninghlll Fuel AIIotrnertTntst Objertives and Activities The CharlS income (after management expenses) is to be applied for the following purposes for the benefrt of the inhabitants of the Civil Parish of Sunninghill: Relieving poverty Relieving a8e or sickness (subject to above) Providing and supporting facilit5 for retreation or other leisure-time occupation Iwlth the objert of improvlng the conditlons of life for the inhabitsnts of the Parish in the interests of social welfare) Providing and supportlng educational facilities Other charttable purposes for the benefit of the inhabltants of the Parish as the Trustees thlnk fft Applications for financial aStan a decided upon by the Tne5 at ordinary meetin8s whlch are usually held four times a year. Cases of eMeencY may be dealt wrth in between the scheduled meetings provided that a quorum can be obtained. Any such meetin85 may be convened In person, telephone call or elertronlc communication. Hardship, distress and sickness can present in many forms. and it would not be possible even to outline the range of unfortunate circumstan5 in which individuals may potentially qualify for help from the Charity. The Trustees endeavour to develop and maintain contacts with bodies and agencies working directly wlth the needy, elderly and sick. in order to encourage referrals from them. Application5 are also, or course, welcomed direct from individuals in need. The Trustees must avoid granting any assistance whlch has the effect of lieVIng public funds. and Indivldua15 seeking help from the Charity are expected to have first claimed their full entitlement to state benefits, and such entitlements wlll In any event be taken into account in the assessment of their needs. Achlevements and Performance Particulars of the 8rants awarded during the year a set out in Note 8 of the financial ststements, and are grouped under the relevant chafitable objectNes ststed above. Where support Is given to or8anisations whose operational base is outside the Sunnin8hlll Parish boundary, but which nevertheless provide significant services to person5 INin8 Wtthin the Parish, information is obtsined as to the number5 and proportion of their beneficiaries coming from within the Parish. or otherwise details of the costs attributable to such beneficiaries. The level of a$5i5tance provided is assessed accordingly. The Trustees take re8ard of the Charity Cornmtssion's 8uklance on public benefft in their 8rant- making decisions. In March 2023 we are delighted to have appointed a Clerk on a part-time basis to support all aspects of the Charitvs administration. We have also completed the transfer of the Charitrfs CordS into a safe and Secu environment on Microsoft 365 and set up secure email addresses for trustee5 using the Charitvs domain name. All this will rnt only improve the effettiveness of assessing applications for support going forward. but also allow us to focus more on generating greater community engagement and awareness. which in tum will help up MO easily to identify local individuals and organisations in need of supporL

Charrty number. 240061- *MlrOIII Fuel Allotm Trnst Report ofihe tneeSfOrthe ar ended 31 Matth 2023 Flnancial Review The Charity has funds placed with two common investment funds Isee note 9 of the financial statements for particulars), the overdll investment object1 beiTrg to achieve long-term growth of both capital and income. The calls upon the Charivs resources can be highly variable. and the Trustees wish to maintsin the Chariws position as a dependable x)urce of potential fundin8 for local individuals in need and also for other charities which. year after year, provide serrfices whlch represent the practical furtherance of the Charitrfs objects. Ownership of property also gives rise to many contingencies. The Income Fund represents the Charitys working balances and expendable reserves, and in current circumstances is viewed by the Trustees as approximately £ICQ,CW per annum. Approved by the Trustees on the 25 September 2023 and 4ned on their behalf by.. Trustee I Chalrperson

The Sunninghill Fuel Allotment Trust

STATEMENT OF FINANCIAL ACTIVITIES

For the Year Ended March 2023

Income Fund Note £ Income and endowments from: Investments 2 200,638 SANG 3 - Other income (donation) 100 Total 200,738 Expenditure on charitable activities: Grants 7 37,899 Management and maintenance of lands 4 - Management and administration 5 6,402 Total 44,301 Net income (expenditure) before investment gains / losses 156,437 Net gains / (losses) on investments (5,162) Net income (expenditure) 151,275 Reconciliation of funds Total funds brought forward 625,656 Total funds carried forward 776,931	Capital Fund £ - 21,930 - 21,930 - 21,444 - 21,444	2023 Total Funds £ 200,638 21,930 100 222,668 37,899 21,444 6,402 65,745 156,923	2022 Total Funds £ 159,058 630,506 -
			789,564
			18,382 15,884 7,280
			41,546
			748,018
156,437	486
(5,162)	(89,269)	(94,431)	334,233

151,275	(88,783)	62,492	1,082,251

		-	-
625,656	5,883,026	6,508,682	5,426,431
776,931	5,794,243	6,571,174
			6,508,682

The notes on pages 8 to 13 form part of the accounts

The Sunninghill Fuel Allotment Trust

BALANCE SHEET

As at 31st March 2023

Note £ £ Fixed assets Endowment investment funds 8 5,178,333 Endowment investment bank balances 8 615,910 Income investment funds 9 31,268 5,825,511 Current assets Prepayments and accrued income 219,202 Bank accounts 527,422 746,624 Liabilities: Creditors:amounts falling due within one year Accruals 10 (961) Net current assets 745,663 Total net assets 6,571,174 The funds of the charity Capital permanent endowment fund 11 5,794,243 Unrestricted income funds 12 776,931 Total charity funds 6,571,174 2023	£ 5,267,602 615,424 36,430 5,919,456 42,893 547,167 590,060 (834) 589,226 6,508,682 5,883,026 625,656 6,508,682 2022	£ 5,267,602 615,424 36,430 5,919,456 42,893 547,167 590,060 (834) 589,226 6,508,682 5,883,026 625,656 6,508,682 2022
		5,919,456 589,226
		6,508,682
		5,883,026 625,656
		6,508,682

Approved by the trustees and signed on its behalf by

TRUSTEE

Date

The notes on pages 8 to 13 form part of the accounts

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2023

1 ACCOUNTING POLICIES

The following are accounting policies considered material in relation to the charity's accounts.

Accounting convention

The financial statements have been prepared on the accruals basis under the historical cost convention and in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FRS102.

Investments

Investments are stated at market value at the year end and all revaluations are reflected in the Statement of Financial Activities.

Income

The income generated from the endowment fund is unrestricted and has been shown in the SOFA as an unrestricted income fund

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Accumulated Funds

Capital fund is a permanent endowment (see note 12). The income fund is unrestricted. Intangible income

A valuation has not been made of the benefit to the charity of voluntary services donated by trustees.

Capital Fund

This represents the invested proceeds from sales of endowed land, and any Sang payments, and as such must be held permanently by the Charity.

2	INVESTMENT INCOME Rents and way-leaves Dividends and interest from common investment funds: - Charishare - Charinco Interest from common deposit fund SANG CAPITAL RECEIPTS Sang relating to Allens Field	2023 Income Fund £ 4,543 166,390 9,919 19,786 200,638 Capital Fund £ 21,930 21,930	2022 Income Fund £ 4,492 144,392 9,920 254
3
			159,058
			Capital Fund £ 630,506

			630,506

Monies received from RBWM relate to the granting of SANG (Sustainable Alternative Natural Greenspace) on a 99 year lease of Allens field (signed 2012-13). This is payable for residential units more than 400 metres and less than 5km from the boundary of Chobham Common.

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2023

4 MANAGEMENT AND MAINTENANCE OF LANDS

Allotment gardens-water charges Bog Warden: management of allotment gardens, clearing of brooks and ditches, dealing with fallen and leaning trees along public paths cutting back hedges etc. Tree felling and surgery Groundwork Waste Removal Allotment fence Water repairs Sundry	Income Fund £ 1,416 4,800 7,980 880 - 4,260 1,740 368 21,444	Income Fund £ 280 4,800 175 890 560 8,160 865 154
		15,884

5 MANAGEMENT ADMINISTRATION OF THE CHARITY

Clerk's remuneration and allowances Office Costs Website Insurance (public and employers liability) Independent examiners fee and book-keeping Legal regarding recreational ground lease Sundry	450 464 - 2,282 954 1,884 368 6,402	- 694 120 2,329 834 3,009 294
		7,280

6 GOING CONCERN

There are no material uncertainties about the charity's ability to continue as a going concern.

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2023

7	2023 GRANTS Income Fund £ GRANTS TO INDIVIDUALS No Relief of age/sickness/hardship Local Resident: (physio costs) 1 3,860 Relief of age/sickness/hardship Other individuals (Over £1,000) 2 7,500 Relief of age/sickness/hardship Other individuals (Under £1,000) 12 4,997 TOTAL INDIVIDUAL GRANTS 15 16,357 GRANTS TO ORGANISATIONS Relief of poverty Citizens Advice Bureau - - Relief of age or sickness Ascot District Day Centre: Towards annual running costs of the Day Centre 11,000 Organisations for Christmas 1,200 12,200 Sports and recreational facilities in the interests of social welfare Various activities 380 380 Support for education Charters school 2,640 South Ascot village school - 2,640 Other charitable purposes All Souls Church-automatic external defib 1,875 All Souls Church-warm spaces support 2,500 Berkshire County Blind (Berks vision) 1,697 Party in the park 250 6,322 TOTAL ORGANISATION GRANTS 21,542 TOTAL 37,899	2022 Income Fund £ 4,860 1,100 2,482

		8,442
		3,000
		3,000
		- 2,700
		2,700
		950
		950
		- 2,090
		2,090
		- 1,200
		1,200

		9,940
		18,382

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2023

8 FIXED ASSET INVESTMENTS

Movement in investments Market value at beginning of year Acquisitions at cost Disposals Unrealised gains/(losses) Realised gains/(losses) Market value at end of year	Charishare 5,018,086 - - (53,469) - 4,964,617	2023 Capital Fund £ Charinco Total 249,516 5,267,602 - - - - (35,800) (89,269) - - 213,716 5,178,333	2022 Capital Fund £ Total 4,930,378 - - 337,224 -
			5,267,602

The capital fund (with the exception of an amount of £615,910 currently held at bank) and part of the Income Fund are invested in two common investment funds, Charishare and Charinco, which are managed by the charities division of BlackRock Investment Management (UK) Ltd, a subsidary of BlackRock Inc. Income units of these funds are held to provide the Charity's investment income.

The investment objective of Charishare is to achieve capital growth while providing an increasing income over the medium to longer term to combat the effects of inflation.

The investment objective of Charinco is to provide a high level of income from a managed portfolio of fixed interest securities.

9 FIXED ASSET INVESTMENTS (INCOME FUND)

Movement in investments Market value at beginning of year Additions at cost Disposals Unrealised gains/(losses) Realised gains/(losses) Market value at end of year	Charishare 487 - - (5) - 482	2023 Income Fund Charinco Total £ 35,943 36,430 - - - - (5,157) (5,162) - - 30,786 31,268	2022 Income Fund Total 39,421 - - (2,991) -
			36,430

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2023

10 CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR

Provision for grant commitments Grant commitments at beginning of the year Additional commitments during the year Grant amounts charged against provision Reversal of unused grant commitments Grant commitments at end of the year Other accruals Independent examiners fee and book-keeping	2023 Income Fund £ - - - - - 961	2022 Income Fund £ - - - -
		-

		834

11 CAPITAL FUND

Permanent Endowments Trust capital Management and maintenance Sang receipts Sale of land Investment revaluation	Movements in funds Opening Incoming/ Gains/ Balance Outgoing (losses) £ £ £ 5,883,026 - - - (21,444) - - 21,930 - - - - - - (89,269) 5,883,026 486 (89,269)	Closing Balance £ 5,883,026 (21,444) 21,930 - (89,269)
		5,794,243

The Charity's land holdings form part of its permanent endowment, having been allotted to the Charity under the inclosure award of 1817 or, in the case of certain parcels, taken in exchange for land originally allotted. The whole land holding is not capitalised in the balance sheet as it is considered that the cost of obtaining a reliable valuation would outweigh the benefit to the users of the financial statements.

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2023

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Closing fund balances are represented by: Investments Current Assets Creditors:amounts falling due within 1 year	Unrestricted Income Fund £ 31,268 746,624 (961) 776,931	Endowment Capital Fund £ 5,794,243 - - 5,794,243	2023 Total Funds £ 5,825,511 746,624 (961)
			6,571,174

13 TRUSTEES REMUNERATION

Neither the Trustees nor any person connected with them received any remunerations or benefits during the year.

14 CONTINGENCIES AND COMMITMENTS

In addition to the grant commitments accrued above, agreements have been given pursuant to which the following grants could become payable:

None this year.

15 RELATED PARTY

There have been no related party transactions in the reporting period.

16 CHANGES TO ACCOUNTING POLICIES

None this year

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Charity Name Sunninghill Fuel Allotment Trust	Charity Name Sunninghill Fuel Allotment Trust	Charity Name Sunninghill Fuel Allotment Trust

31stMarch 2023	Charity no (if any)	240061

6-13

Respective The charity's trustees are responsible for the preparation of the accounts. responsibilities of The charity’s trustees consider that an audit is not required for this year trustees and examiner under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.
Basis of independent My examination was carried out in accordance with general Directions given examiner’s statement by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent In connection with my examination, no matter has come to my attention examiner's statement (other than that disclosed below *)

which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Please delete the words in the brackets if they do not apply.

Signed: Name: Relevant professional qualification(s) or body (if any):

	Timothy Ivor Kingcott

	ACMA ATT

IER

Address:

Kingcott Accountants 19 Brockenhurst Road, Martins Heron, Bracknell, Berkshire RG12 9FJ

Section B Disclosure

IER

Give here brief details of any items that the examiner wishes to disclose .

IER