2021-12-31-accounts - Poor's And Towns' Charities

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HOCKERING POOR AND TOWNLANDS CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

HOCKERING POOR AND TOWNLANDS CHARITY

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

Contents	Page No.
Report of the Trustees	1 - 4
Receipts and Payments Account	5
Statement of Assets and Liabilities	6
Independent Examiner’s Report	7

HOCKERING POOR AND TOWNLANDS CHARITY

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees are pleased to present their report, together with the financial statements for the year ended 31 December 2021.

Reference and administration details

Charity name: Hockering Poor And Townlands Charity Charity registration number: 242408 Address of charity: Brown & Co The Atrium St. Georges Street Norwich Trustees: Oliver Berney Jackie Howard Keith Arthurton Rosemary Neave Revd. Mark McCaghrey Clerk C E Birch Bankers: Barclays Bank plc 5-7 Red Lion Street Norwich NR1 3QH Independent Examiner: M Proctor FCA DChA Lovewell Blake LLP Bankside 300 Peachman Way Broadland Business Park NR7 0LB Estate Managers: Brown & Co The Atrium St. Georges Street Norwich

HOCKERING POOR AND TOWNLANDS CHARITY

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Structure, governance and management

Objectives and activities

The Charity is divided into two branches, the Poor’s Branch and the Town’s branch. Income arising from property belonging to each branch will accrue to the branch in question and all payments applicable to each branch must be made from the income or expendable endowment of the branch in question. The object of the Poor’s Branch is the relief of persons resident in the area of benefit (being the Parish of Hockering) who are in need, hardship or distress.

The Trustees may relieve persons in need by:

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

In exceptional cases the Trustees may decide to assist someone (who is otherwise qualified) who is:

Resident outside the area of benefit; or
Only temporarily resident in the area of benefit.

The objects of the Town’s branch are:

The payment of at least £25, or such other sum as the Trustees must decide, to the Trustees of the Church Charity; and
The general benefit of the inhabitants of the area of benefit in such charitable ways as the Trustees think fit.

The Trustees must first apply:

the Charity’s income; and
if the Trustees think fit, expendable endowment

In meeting the proper costs of administering the Charity and of managing its property (including the repair and insurance of its buildings, except where these costs are met by a tenant). After payment of these costs, the Trustees must apply the remaining income in furthering the objects of the Charity. The Trustees may also apply the expendable endowment for the objects of the Charity.

Achievements and performance

During the year the Charity continued to let and manage its properties and land, maintaining them as necessary. The Charity also made a grant of £1,750 as a contribution towards electrical repairs at one of its properties.

Financial review

The charity is funded by rental income and investment income. Total receipts amounted to £28,099 (2020: £17,276) and after payments of £20,567 (2020: £12,136) the net income for the year amounted to £7,532 (2020: £5,140).

HOCKERING POOR AND TOWNLANDS CHARITY

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review (continued)

The Trustees consider the year end financial position to be satisfactory and confirm that the charity can meet all known obligations.

Reserves policy

At the year end, the Charity’s reserves amounted to £63,683, consisting of cash funds of £19,095, current assets of £13,676, investments from accumulated income of £51,169, less current liabilities of £20,257.

The charity has had limited revenue for many years. Rather than spend the entire annual surplus which can conflict with greater than usual annual property costs or costs arising unexpectedly. It has also been agreed that greater benefit can be delivered to the scheme beneficiaries if there is a larger sum available to assist therefore rather than spend all surplus revenue without a justifiable reason, the Trustees prefer to accumulate reserves, giving greater income annually on the larger balance of retained investments and the opportunity to make larger payments when justified.

The Trustees have agreed that they will seek beneficiaries, but that in the absence of suitable ones, surplus revenue may be retained as long as it is invested in accordance with recommendations how to ensure retention of the balance and protection against inflation as far as possible. The accumulated income shall also be identifiable to ensure it does not become confused with what is thought of as permanent capital.

Governing document

Charity Commission (registration number 1070221) on 27 April 1998. The charity was then reregistered with the Charity Commission (registration number 242408) on 10 March 2006.

Appointment and recruitment of trustees

The Trustees are appointed as follows:

The Vicar for the time being of the ecclesiastical parish of Hockering shall be an ex-officio Trustee.
Four nominated Trustees are appointed, two by Hockering Parish Council, and two by Hockering Parochial Church Council. Any appointment must be made at a meeting held according to the ordinary practice of the appointing Council. The person appointed need not be a member of the appointing Council.

The Trustees must give each new Trustee on their first appointment:

A copy of the Scheme and any amendments made to it;
A copy of the Charity’s latest report and statement of accounts.

Risk management

The Trustees consider that there are no major strategic or business risks which would affect the ongoing operation of the Charity.

HOCKERING POOR AND TOWNLANDS CHARITY

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Organisational structure

The Trustees administer the Charity and meet twice a year to discuss and approve forthcoming charitable expenditure.

Related party transactions

During the year, the Trustees made grants of £Nil (2020: £670) to Hockering PCC.

Public benefit

The Trustees have considered the Charity Commission’s guidance on public benefit. They confirm that in planning and carrying out the charity’s activities they have had regards to this guidance.

Trustees

The current trustees are shown on page 1. All Trustees held office throughout the year.

Signed on behalf of the trustees:

Oliver Berney

3 July 2022

HOCKERING POOR AND TOWNLANDS CHARITY

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2021

	Restricted	Restricted	Restricted	Funds
	Poor’s			Town’s	Total	Total
	Branch			Branch	2021	2020
			£	£	£	£
Receipts
Investment income:
Rents received	800			9,682	10,482	8,200
Dividends and interest		12		605	617	795
	812			10,287	11,099	8,995
Other receipts
Sale of investments			-	17,000	17,000	8,281
Total receipts	812			27,287	28,099	17,276
Payments
Donations and grants			-	1,750	1,750	1,762
Property repairs and maintenance			-	6,021	6,021	1,894
Insurance			-	899	899	2,512
Consultancy fees			-	3,920	3,920	3,156
Management fees			-	2,520	2,520	1,582
Rates			-	1,056	1,056	-
Legal fees			-	4,401	4,401	-
	___			_____	_____	_____
			-	20,567	20,567	10,906
Other payments
Independent examiner’s fees			-	-	-	1,230
Total payments			-	20,567	20,567	12,136
Net receipts for the year	812			6,720	7,532	5,140
Cash and bank balances at 31 December	2,475			9,088	11,563	11,563
2020
Cash and bank balances at 31 December	3,287			15,808	19,095	11,563
2021

HOCKERING POOR AND TOWNLANDS CHARITY

STATEMENT OF ASSETS AND LIABILITIES

AS AT 31 DECEMBER 2021

Restricted Funds Expendable Endowments Poor’s Town’s Poor’s Town’s Branch Branch Branch Branch £ £ £ £ Cash funds Bank current account 3,149 15,765 - - Bank deposit account 138 43 - - 3,287 15,808 - - Investment assets (estimated current value) Properties: - - 25,000 350,000 Other: Colman Street Investments - - - 5,254 Cash held by J M Finn - - - 50 COIF Income shares - - 475 3,061 BlackRock Charishare 2,695 34,141 - - M & G Charifund - - 24 5,469 2,695 34,141 25,499 363,834 Other monetary assets Property rent debtor - - - 13,676 Current liabilities Independent Examination fees - 2,586 - - Property repairs and maintenance - 10,645 - - Insurance Charitable donations - - - - - - - - Management fees - 946 - - Professional fees - 3,380 Consultancy - Town - 2,700 - - - 20,257 - -	Total 2021 £ 18,914 181 19,095 375,000 3 5,254 50 3,536 36,836 5,493 426,169 4 13,676 2,586 10,645 - - 946 3,380 2,700 20,257	Total 2020 £ 11,382 181
		11,563
		65,000 20,979 50 6,390 32,229 4,845 29,493
		10,626
		1,272 - 657 - 792 3,920 6,641

These financial statements were approved by the Trustees on 3 July 2022 and are signed on their behalf by:

Oliver Berney

I NDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

HOCKERING POOR AND TOWNLANDS CHARITY

FOR THE YEAR ENDED 31 DECEMBER 2021

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 5 to 6.

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.

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.

M Proctor FCA DChA Lovewell Blake LLP Chartered Accountants Independent examiner Norwich

10 July 2022