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|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
6
**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
7
**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.
8
**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.
9
**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|
10
**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|
11
**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.
12
**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
13
**Independent examiner's report on the accounts**
**Section A Independent Examiner’s Report**
|**Report to the trustees/**
**members of**
**On accounts for the year**
**ended**
**Set out on pages**|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 *)
1. 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
2. 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||
1
**IER**
**Address:**
Kingcott Accountants 19 Brockenhurst Road, Martins Heron, Bracknell, Berkshire RG12 9FJ
## **Section B Disclosure**
2
**IER**
**Give here brief details of any items that the examiner wishes to disclose** .
3
**IER**