2023-12-31-accounts - Poor's Allotment

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Registered Charity Number - 241730

POOR’S ALLOTMENT Known Locally as : WATLINGTON SUPPORT FUND REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2023

CONTENTS Charity Information Trustees’ Report Independent Examiner’s Report Statement of Financial Activities Statement of Assets and Liabilities Notes to the Accounts	Page 1 2 - 3 4 5 6 7 - 10

Ridgefield Consulting Chartered Accountants 10 Station Road Henley on Thames Oxfordshire RG9 1AY

Page 1

POOR’S ALLOTMENT

CHARITY INFORMATION

Trustees Ms. R. Walmsley (Treasurer) Ms. N. A. Stafford (Chairperson) Ms. M. Barton Ms. D. Hobbs Mr. D. J. Tindale (Appointed 21 March 2023) Ms. D. J. Young (Appointed 21 March 2023) Ms. J Hocking (Appointed 15 September 2023) Mr. A Aherne (Appointed 15 September 2023) Mr. E Joint (Resigned 25 January 2023) Ms. S. McKinley (Resigned on 04 July 2023) Ms. S. Pullen (Resigned on 18 March 2024) Secretary Mrs. V. Marshall Independent Examiner S. B. Thomas ACA, Ridgefield Consulting Chartered Accountants, 10 Station Road, Henley on Thames, Oxfordshire, RG9 1AY Charity Office Watlington Community Office, 1 Old School Place, Watlington, Oxfordshire. OX49 5QH Charity Number 241730

Page 2

POOR’S ALLOTMENT

TRUSTEES REPORT

The Trustees present their Report and the Financial Statements of the Charity for the year ended 31st December 2023.

Structure, Governance and Management

The Charity was constituted by Deed of Trust as Poor’s Allotment on 22nd April 1815 and is registered with the Charity Commissioners number 241730.

Trustees are appointed at the AGM and serve for a four year term.

The Trustees who served during the year were:

Ms. S. Pullen Ms. R. Walmsley Ms. M. Barton Ms. D. Hobbs Mr. E. Joint Ms. N. A. Stafford Ms. S. McKinley Ms. D. J. Young Mr. D. J. Tindale Mr. A Aherne Ms. J Hocking

Trustees are all residents and are considered to have a good standing within the local community. These factors, along with the individual’s ability to make informed and considered decisions, are taken into account before a Trustee is appointed.

Aims and Organisation

The objectives of the Charity are :

1. The relief of persons resident in the parish of Watlington who are

In need, hardship or distress or sick, convalescent, disabled or infirm. - By relieving their suffering or assisting their recovery.

2. The Trustees may relieve persons in need or those eligible for assistance by :

Making grants of money to them, or
Providing or paying for goods, services or facilities for them, or
Making grants of money to other persons or bodies who provide the good services or facilities to those in need or those eligible for assistance.

3. In exceptional cases the Trustees may decide to assist someone (who must otherwise be qualified) who is resident immediately outside the area of benefit or only temporarily resident in the area of benefit.

Page 3

POOR’S ALLOTMENT

TRUSTEES REPORT

Review of Activities

During the year, the Charity generated incoming resources of £40,986 (2022: £37,150). This enabled the Charity to provide donations of £17,532 (2022: £4,418) to support individuals and charitable groups within the parish of Watlington.

Future Plans

The Charity aims to continue to provide support and assistance to those in need within the parish of Watlington.

Reserves Policy

The Charity aims to maintain sufficient reserves to ensure that it can continue to meet its objectives within the local community. This policy has been achieved again this year.

Trustees’ Responsibilities

The Trustees recognise their responsibility for keeping proper accounting records and preparing Financial Statements each year. The appended accounts have been prepared on the accruals basis and have been examined by an Independent Examiner, whose report is also attached.

Public Benefit

The Trustees have paid due regard to guidance issued by the Charity Commission with regards to Public Benefit.

Laws and Regulations

The Charity has been compliant with prevailing laws and regulations in force during the year.

This Report was approved by the Trustees :

Ms. R. Walmsley Trustee

Ms. N. A. Stafford Trustee

Date:

Page 4 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

POOR’S ALLOTMENT

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2023 which are set out on pages 5 to 10.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S. B. Thomas, ACA Kench & Co Ltd Chartered Accountants, 10 Station Road, Henley on Thames, Oxfordshire. RG9 1AY

Date:

Page 5

POOR’S ALLOTMENT

INCOME AND EXPENDITURE ACCOUNT

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME COIF Deposit Interest Charinco Interest Dividends Grazing Licence Rental Income Other Income - Donations Total Incoming Resources OUTGOINGS Direct Charitable Expenditure – Donations Management and Administration Watlington Public Charities - Rent Depreciation Net Incoming Resources for the Year (Deficit)/Surplus on Revaluation of Investments Funds as at 1 January 2023 Funds as at 31 December 2023	Unrestricted funds 2023 34,834 5,501 10 640 _ 40,986 (17,532) (17,236) (400) (300) _ (35,468) 5,518 34,114 896,426 ___ 936,058		Unrestricted funds 2022 307 481 33,392 2,950 10 10 _ 37,150 (4,418) (9,398) (800) (300) _ (14,916) 22,234 (84,702) 958,894 ___ 896,426

Page 6

POOR’S ALLOTMENT

BALANCE SHEET

STATEMENT OF ASSETS AND LIABILITIES

31 DECEMBER 2023


Fixed Assets Tangible Assets Investments Current Assets Debtors Cash at Bank and in Hand Creditors : Amounts falling due within one year Net Current Assets Total Assets Less Current Liabilities Net Assets Capital and Reserves Income and Expenditure Account (Unrestricted funds)	Note 2023 2 5 3 865,336 __ 865,341 4 73,274 73,274 5 (2,557) __ 70717 __ 936,058 _ 936,058 6 936,058 ___ 936,058		2022 305 831,221 __ 831,526 1,239 67,472 68,711 (3,811) __ 64,900 __ 896,426 _ 896,426 896,426 ___ 896,426

Approved by the Trustees on :

Ms. N. A. Stafford Trustee

Page 7

POOR’S ALLOTMENT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting Policies

Charity information

Poor’s Allotment was established by Deed of Trust on 22 April 1815 as an unincorporated charity and is registered with the Charity Commissioners, charity registration number 241730.

Accounting convention

These accounts have been prepared in accordance with FRS 102 ”The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The Trust is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The accounts are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

Incoming Resources

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount.

Tangible fixed assets

Freehold land and buildings and computer equipment are stated at cost less depreciation. Depreciation on computer equipment is charged on a 3 years straight line basis.

Fixed asset investments

Fixed asset investments are initially measured at transaction price, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the income and expenditure account.

Page 8

POOR’S ALLOTMENT

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023

Financial Instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust’s Balance Sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the Financial Statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

Page 9

POOR’S ALLOTMENT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

2	Tangible Fixed Assets Cost At 1 January 2023 Additions Disposals At 31 December 2023 Depreciation and impairment At 1 January 2023 Depreciation charged in year Eliminated in respect of disposals At 31 December 2023 Carrying amount At 1 January 2023 At 31 December 2023	Land & Buildings 5 - - __ 5 - - - _ 5 5 ___ 5	Computer Equipment 900 - - __ 900 600 300 - _ 900 0 ___ 0	Computer Equipment 900 - - __ 900 600 300 - _ 900 0 ___ 0	_	Total 905 - - _ 905 600 300 - 900 5 __ 5
				__
				__	_

				__

3	Investments At 1 January 2023 Additions Revaluation surplus/(deficit) At 31 December 2023 Analysis of Investments Listed Investments	Investments In COIF Funds 475,887 - 40,631 ______ 516,518	Investments In M & G Charifund 326,271 - (7,666) ______ 318,605	Other Investments 29,063 - 1,150 _ 30,213 2023 865,336 ____ 865,336	Total 831,221 - 34,115 __ 865,336 2022 831,221 ____ 831,221

Page 10

POOR’S ALLOTMENT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

4 5 6	Debtors Trade debtors Unpaid rental income Accrued income Creditors : Amounts falling due within one year Other Creditors Deferred Income Accruals Income and Expenditure Account At 1 January 2023 Net incoming /(outgoing) resources for the year At 31 December 2023	2023 - - - _ 2023 - 757 1,800 2,557 2023 896,426 39,632 _ 936,058	2022 450 725 64 ____ 1,175 2022 2,856 723 232 _ 3,811 2022 958,894 (62,468) _____ 896,426

7 Trustees’ Remuneration

The Trustees received no remuneration and no expenses were reimbursed to Trustees during the year.

8 Restricted Funds

There were no restricted funds in the year ended 31st December 2023.

9 Related Party Transactions

There are no related party transactions during the year ended 31st December 2023.