2024-03-31-accounts - Fuel Allotment

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Charity Registration Number 240061 SUNNINGHILL FUELALLOTMENTTRUST Known as The Sunninghill Trus Report of the Trustees and Financial Statements For the Year Ended 31 March 2024

Chaiity number. 24(I)61- Sunnlryhl Fuel AllotmertTn Report ofthe tNstees ft*the year ended 31 March 2024 Trustees, Report CONTENTS Charity Clerk and Correspondent Trustees Independent Examiner Structure. Govemance and Management Oblectlves and Activities Financial Review and Perfomian Statement of Financial ActNities Balance Sheet Notes to the Financial Statements 8-13 Independent examinerfs report to the twstees on the unaudited financial statements of The Sunnlrehill Fuel Allotment Trust I-IER

Charlty number. 240061. SnnshI11 Fuel ANotmert Trust Report ofthe trusteesfor the ar ended 31 Marth 2024 Charlty Clerk and Correspondent Clerk.. Jodie Wilson SurÈninghill Fuel Allotment Trust PO Box4712 Ascot Berkshire SI5 9AA Trustees Wllliam Dalton IChairper50n and Nominatr¥e Trustee) Wayne Phelan (Nominative Trustee} Matthew Barnard ICOptatNe Trustee) Shojo Njarlelv ICo-OPtatp4e Trustee) Tansley Jordan IEx-officio Trusteel- appolnted 11 December 2023 Custodian Trustee= title to the ChariVs land is vested In the Official Custodlan for Charities. Independent Exarnlner Tlmothy Kingcott ACMA A Kingcott Accountsnts 19 Brockenhurst Road Martlns Heron Bracknell RG12 9FJ Trustees present their report and the financial statements for the year ended 31 March 2024. The trustees who served during the year and up to the date of this port are set out above. Structure, Govemance 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 currently re8ulated by a Scheme of the Charity Commissioners dated September 1980. The Scheme provides for a body of flve Trustees: one ExffiCI0 Trustee, two Nominatlve Trustees and two Ctroptatlve Trustee The Ex•officio Trustee is the Wicar of the Ecclesiaslical Parish of St Michael and All Angels, Sunninghill. The Revend Tansley Jordan was OffKia1 appointed on 11 December 2023. The Nominative Trustees a appointed by Sunnlnghill & Ascot Parish Council. the term of each appointment being four years. Wayne Phelan is a Nominative Trustees and has completed two full four year terms. He has indicated his willingness to tontinue in the role, havin8 Stepped down from the Chair role with effett from April 2023. William Daon is the second Nominative Trustee who has been in the role for three years and wh) is the current Chairperwn. The Co-optatFve Trustees are appointed by the existing Trustee body las vacancies occur), and they are drawn from the local community. The temi of Offi for a COptative Trustee is five years. Matthew Barnard and Shojo Njarlely ItM)th of whom are yet to complete a five year temil are the C optatNe Trustees who served throughout the year.

Charity number: 24(K161- Sunniryhill Fuel All0thrtTrSt Report of the trustees for the yearended 31 Marth 2024 Objectives and Activities The Charlvs income (after management expenses) is to be applied for the followinB purposes for the benefit of the inhabitsnts of the Civil Parish of Sunninghill- Relieving poverty Relieving age or sickness (subject to above) Providing and supporting facilities for recreation or other leisure-time occupation {with the object of improving the conditions of life for the inhabitants of the Parish in the interests of social welfarel Providing and supporting educational facilities Other charitable purposes for the benefit of the inhabitants of the Parish as the Trustees think fft Applications for financial assistsnce are decided upon by the Tru5tee5 at the quarterty ordinary meetings. In between the scheduled meetings cases can be assessed and decided upon vla emall communication or virtual meetin85 provided that a quorum can be obtained. The Trustees endeavour to develop and maintain contacts with bodies and agencies working directly with the needy, elderly and sick, in order to encoura8e referrals from them. Applications are also welcomed direct from individuals via the online application foryn. by email or by leavin8 a voicemail message. The Trustees must avoid granting any aSSistsn which has the effect of relieving public funds, and individuals seekin8 help from the Charity are expected to have flrst claimed their full entitlement to state benefits. and such entitlements will in any event be taken into account In the assessment of their needs. Where support is given to organisations whose operntional base is outsTrde the Sunninghill Parish boundary, but which nevertheless provide significant servlces to persons Ilving Within the Parish. Information is obtained as to the numbers and proportion of their beneficiarles comlng from within the Parish, or otherwise details of the costs attributable to such beneficiaries. The level of assistance provided is assessed accordinglv. The Trustees take regard of the Charity Commisslon's guidance on public benefft in their grant- making decisions.

Charity number. 240061- Sunnlnghlll Fuel Allolmert Trust eport of the trustees for the year ended 31 Marth 2024 Financial Review and Perfonnan Total income from investments. rent and wayleove5 was £247,996 representing a 23.6% increase over the prior year. Grants paid out totalled £97,777 (see breakdown within Note 7 of the financial statements) which was the highest level for six years. After adminlstration costs, this meant that a net income surplus of £I30.Cl was added to unrestricted income reserves for future distribution. As for the Capital Fund, a net surplus of £387,973 was added to the pern)anent endowment. boosted by £255,529 of SANG receipts and a valuatTron gain on investments of £141,896. The amount spent on maintenance of our land of £9.452 was 56% lower than last year primarily due to loVr tree sur8ery and fencing costs. The Charity has funds placed with tsvo common investment funds {see notes 8 and 9 of the financial statements for particulars), the overall investment objective being to achieve lon8-term growth of both capital and income. The dividend yield from the equlty part of the Investments was 3.4% In the vear, and the interest yleld from the bond part of the investments was 4.1%. The Charity also has part of its bank balances within the COIF Charities Deposit Fund managed by CCLA Investment Management Ltd which yielded 4.8% across the year. The calls upon the ChariV5 resources can be highly variable, and the Trustees V$h to malntain the Charitrfs Posltion as a dependable Sour of potential funding for local individua15 in need and also for other charities which. year after year, provide services which represent the practlcal furtherance of the Charitys objects. With the launchlng ofourcommunity eTrdagement plan during the year, as well as measures to update our website whlch Includes a new online appllcation fomi, we have begun the process of improving the ways in which we identify the indNiduals and organisations in need of support withln our area. as well as enhancln8 our effectiveness in assessin8 applications. Thls wlll maximlse our opportunity to be able to exceed our stated annual grant*ivin8 target of £l([J.o going forward. Approved by the Trustees on the 23 September 2024 and 5t8ned on their behalf by: Trustee / Chairperson

The Sunninghill Fuel Allotment Trust

STATEMENT OF FINANCIAL ACTIVITIES

For the Year Ended March 2024

Income Fund Note £ Income and endowments from: Investments 2 247,996 SANG 3 - Other income (donation) - Total 247,996 Expenditure on charitable activities: Grants 7 97,777 Management and maintenance of lands 4 - Management and administration 5 19,772 Total 117,549 Net income (expenditure) before investment gains / losses 130,447 Net gains / (losses) on investments (447) Net income (expenditure) 130,000 Reconciliation of funds Total funds brought forward 776,931 Total funds carried forward 906,931	Capital Fund £ - 255,529 - 255,529 - 9,452 - 9,452	2024 Total Funds £ 247,996 255,529 - 503,525 97,777 9,452 19,772 127,001 376,524	2023 Total Funds £ 200,638 21,930 100
			222,668
			37,899 21,444 6,402
			65,745
			156,923
130,447	246,077
(447)	141,896	141,449	(94,431)

130,000	387,973	517,973	62,492

		-	-
776,931	5,794,243	6,571,174	6,508,682
906,931	6,182,216	7,089,147
			6,571,174

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

The Sunninghill Fuel Allotment Trust

BALANCE SHEET

As at 31st March 2024

Note £ £ Fixed assets Endowment investment funds 8 5,320,229 Endowment investment bank balances 8 608,063 Income investment funds 9 30,821 5,959,113 Current assets Prepayments and accrued income 255,524 Bank accounts 875,344 1,130,868 Liabilities: Creditors:amounts falling due within one year Accruals 10 (834) Net current assets 1,130,034 Total net assets 7,089,147 The funds of the charity Capital permanent endowment fund 11 6,182,216 Unrestricted income funds 12 906,931 Total charity funds 7,089,147 2024	£ 5,178,333 615,910 31,268 5,825,511 219,202 527,422 746,624 (961) 745,663 6,571,174 5,794,243 776,931 6,571,174 2023	£ 5,178,333 615,910 31,268 5,825,511 219,202 527,422 746,624 (961) 745,663 6,571,174 5,794,243 776,931 6,571,174 2023
		5,825,511 745,663
		6,571,174
		5,794,243 776,931
		6,571,174

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 2024

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 AMOUNTS RECEIVABLE Sang relating to Allens Field	2024 Income Fund £ 5,375 170,944 9,919 61,758 247,996 Capital Fund 255,529 255,529	2023 Income Fund £ 4,543 166,390 9,919 19,786
3
			200,638
			Capital Fund £ 21,930

			21,930

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 2024

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 Allotment fencing and signs Water repairs Sundry	2024 Capital Fund £ 420 5,000 3,120 - 814 - 98 9,452	2023 Capital Fund £ 1,416 4,800 7,980 880 4,260 1,740 368
		21,444

5 MANAGEMENT ADMINISTRATION OF THE CHARITY

Clerk's remuneration and allowances Office Costs IT and website related costs Insurance (public and employers liability) Independent examiners fee and book-keeping Legal regarding recreational ground lease Consultancy-community engagement plan Advertising Sundry	2024 Income Fund £ 5,400 476 2,293 2,384 2,449 5,035 750 300 685 19,772	2023 Income Fund £ 450 464 - 2,282 954 1,884 - - 368
		6,402

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 2024

7	2024 GRANTS Income Fund £ GRANTS TO INDIVIDUALS No Relief of age/sickness/hardship Individuals (Over £1,000) 6 25,591 Relief of age/sickness/hardship Other individuals (Under £1,000) 12 7,124 TOTAL INDIVIDUAL GRANTS 18 32,715 GRANTS TO ORGANISATIONS Relief of poverty/hardship Citizens Advice Bureau 6,250 The Dash Charity 6,000 Berkshire County Blind (Berks vision) 1,906 14,156 Relief of age or sickness Ascot District Day Centre: Towards annual running costs of the Day Centre 30,000 Thames Hospice 6,750 Organisations for Christmas 1,500 38,250 Sports and recreational facilities in the interests of social welfare South Ascot Guides 1,900 Various activities 774 2,674 Support for education Charters school 2,775 Cheapside school 1,707 4,482 Other charitable purposes All Souls Church-automatic external defib - All Souls Church-warm spaces support 5,500 Party in the park - 5,500 TOTAL ORGANISATION GRANTS 65,062 TOTAL 97,777	2023 Income Fund £ 11,360 4,997

		16,357
		- - 1,697
		1,697
		11,000 - 1,200
		12,200
		- 380
		380
		2,640 -
		2,640
		1,875 2,500 250
		6,322

		21,542
		37,899

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2024

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 4,964,617 - - 145,094 - 5,109,711	2024 Capital Fund £ Charinco Total 213,716 5,178,333 - - - - (3,198) 141,896 - - 210,518 5,320,229	2023 Capital Fund £ Total 5,267,602 - - (89,269) -
			5,178,333

The capital fund (with the exception of an amount of £608,063 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 482 - - 14 - 496	2024 Income Fund Charinco Total £ 30,786 31,268 - - - - (461) (447) - - 30,325 30,821	2023 Income Fund Total 36,430 - - (5,162) -
			31,268

The Sunninghill Fuel Allotment Trust

NOTES TO FINANCIAL STATEMENTS

For the Year Ended March 2024

10 CREDITORS:AMOUNTS FALLING DUE WITHIN ONE YEAR

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	2024 Income Fund £ - - - - - 834	2023 Income Fund £ - - - -
		-

		961

11 CAPITAL FUND

Permanent Endowments Trust capital Management and maintenance SANG amounts receivable Sale of land Investment revaluation	Movements in funds Opening Incoming/ Gains/ Balance Outgoing (losses) £ £ £ 5,794,243 - - - (9,452) - - 255,529 - - - - - - 141,896 5,794,243 246,077 141,896	Closing Balance £ 5,794,243 (9,452) 255,529 - 141,896
		6,182,216

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 2024

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Closing fund balances are represented by: Investment funds Investment bank accounts Current Assets-bank accounts Current Assets-prepayments and accrued income Creditors:amounts falling due within 1 year	Unrestricted Income Fund £ 30,821 - 875,344 1,600 (834) 906,931	Endowment Capital Fund £ 5,320,229 608,063 - 253,924 - 6,182,216	2024 Total Funds £ 5,351,050 608,063 875,344 255,524 (834)
			7,089,147

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 2024	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