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2023-12-31-accounts

Charity registration number 244136

CONGLETON INCLOSURE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

CONGLETON INCLOSURE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs J E Goodier
Mr J S Davies
Mr J W Beardmore
Mr D Beech
Mrs A Cook
Mrs B C Cook
Mr A N Curwen
Mrs J I Hollins
Mr J R Hulse
Mrs P Newman
Mr S Raw-Rees
Mr K S Wainwright
Mr Ian Watson
Senior management Mrs J E Goodier Chair
J S Davies Vice-Chair
Charity number 244136
Independent examiner Peter McNulty FCA FCCA
Hammond McNulty LLP
Bank House
Market Square
Congleton
Cheshire
England
CW12 1ET

CONGLETON INCLOSURE TRUST

CONTENTS

Page
Trustees' report 1 - 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 18

CONGLETON INCLOSURE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees present their annual report and financial statements for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objectives and aims

Subject to the payment of expenses incidental to the management of the charity, the Trustees shall apply the income of the Charity in the area of benefit, for any of the following purposes:

a) The prevention or relief of poverty.

b) The advancement of education.

c) The advancement of health or the saving of lives.

d) The advancement of citizenship or community development.

e) The advancement of the arts, culture, heritage or science.

f) The advancement of sport.

g) The advancement of environmental protection and improvement.

h) The relief of those in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage.

Area of benefits

The area generally meant that of the Borough on Congleton, as constituted on the 31st March 1974 update and based on the ordinance survey map No.100049045/2019.

This area incorporated the Town Centre, Buglawton, Timbersbrook, Mossley, Lower Heath, and West Heath.

Additionally, included in the area are the bordering Cheshire Parishes of Newbold Astbury, Hulme Walfield, Eaton, North Rode, Bosley and Somerford.

Public Benefit

The trustees have complied with their duty to have due regard for the guidance on the public benefit issued by the Charity Commission.

Grantmaking

Applications for grants are considered by a grants committee comprising the Chairman and three other Trustees sitting on a rota basis who meet in the weeks prior to the quarterly meetings of the Trust held in January, April, July and October. They enquire into all such applications which have been made on an application and monitoring form supplied by the Trust. A report is then made to all the Trustees whose decisions are acted upon by the Secretary and the Treasurer following each quarterly meeting.

CONGLETON INCLOSURE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Significant activities and achievements against objectives

Charitable activities

The Inclosure trust is a responsive funder in that all the grants go to support organisations who apply for funding rather than the trust seeking out good causes to donate to.

The Trustees have in accordance with the Scheme made grants during the year amounting to £87,537 to twenty-one organisations and good causes (as detailed in note 5 of the financial statements) for the benefit of the inhabitants of the area of benefit . These include the following organisations:

Relief of those in need by reason of youth, age, ill health disability financial hardship or other disadvantage MacMillan Cancer - Providing emotional, practical, physical and financial support, services for people living with cancer.

Prevention or relief of poverty

New Life Church - The Storehouse is a free Food Bank in Congleton for emergency or extreme hardship situations.

The Green Tree House -

Advancement of education

Congleton Youth Orchestra - Gives young people from Congleton and surrounding areas the opportunity to learn, play and perform music in an orchestral setting.

Congleton High School -

Congleton Learning Partnership -

The advancement of community development

Vale Allotments Association - Seeking to acquire and run the Vale Allotments site in Congleton with preferential access and reduced rents for certain disadvantaged groups.

Bromley Farm Development Trust -

Advancement of arts, culture, heritage or science

Electric Picture House - Providing affordable studio space for artists and running workshops exhibitions and other events.

Friends of Congleton Park - A Community Group to help develop and look after Congleton Park.

Congleton Live - Congleton Jazz and Blues and Congleton unplugged music festivals.

Beartown Patchwork & Quilters - Social sowing, speakers & challenges, for those who enjoy traditional, modern or art quilts; you can learn a new skill with guidance, books and equipment are also available on loan.

Congleton Museum Trust -

Congleton Players -

CONGLETON INCLOSURE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Congleton Musical Theatre - Annual live musical theatre performance in October and rehearsals starting in May.

Congleton Community Projects - Congleton Food & drink festival, promoting the town of Congleton with an annual food and drink festival from local producers and shops.

SOL Theatre School - A Youth theatre group who perform at Congleton Daneside Theatre.

The advancement of environmental protection and improvement Astbury Mere Trust - Conservation of Astbury Mere Country Park

RSPCA -

The advancement of sport

Congleton Harriers - promoting and enjoying all forms of running for the social aspect, keeping fit and to compete in races.

Congleton & Mossley Junior Cricket -

Net assets as at 31 December 2023 increased to £5,501,986 compared with £5,260,056 on 31 December 2022. Incoming resources in 2023 increased to £136,570 compared with £130,409 in 2022.

Financial review

Financial Policy

The Trustees have prepared an Investment Policy Statement which provides guidance as to how the asset management functions which are delegated by the Trustees to Brewin Dolphin, should be exercised.

Investment objective

The Trustees intend that the real value of their assets should be maintained and enhanced over the long term by investment in a portfolio comprising equities, fixed income, stocks and cash.

Investment brief

In order to meet these objectives the Trustees have appointed Brewin Dolphin as their agent to manage a diversified portfolio of suitable investments on a discretionary basis. The Trustees have selected a balanced investment objective with medium risk. The proportions invested in equities, fixed income, stocks and cash are reviewed on a regular basis by Brewin Dolphin to provide guidance on the suitability of that element of investment policy.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The Congleton Inclosure Trust is an unincorporated Charity registered with the Charity Commission under (No 244136). The Trust was constituted in accordance with the provisions of the Congleton Inclosure Act 1975 which was "an act for dividing and leasing or letting certain commons or waste grounds within the borough and township of Congleton in the County of Chester and for applying the profits or part of the same in aid of the poor rate and other taxes or public expenses within the said township".

CONGLETON INCLOSURE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees who served during the year and up to the date of signature of the financial statements were:

Mrs J E Goodier (Chair) (Co-opted - re-appointed for 5 years from 25 October 2023) Mr J S Davies (Vice Chair) (Co-opted for 5 years from 27 October 2020) Mr J W Beardmore (Co-opted - re-appointed for 5 years from 25 October 2023) Mr D Beech (Elected 28 October 2020 Co-opted for 5 years) Mrs A Cook (Elected 21 October 2021 Co-opted for 5 years) Mrs B C Cook (Elected 28 October 2020 Co-opted for 5 years) Mr A N Curwen (Co-opted - re-appointed for 5 years from 31 January 2022) Mrs J I Hollins (Co-opted - re-appointed for 5 years from 20 April 2022) Mr J R Hulse (Elected 28 October 2020 Co-opted for 5 years) Mrs P Newman (Elected 28 October 2020 Co-opted for 5 years) Mr S Raw-Rees (Co-opted - re-appointed for 5 years from 25 October 2023) Mr K S Wainwright (Co-opted - re-appointed for 5 years from 25 January 2023) Mr Ian Watson (Elected 27 July 2022)

Recruitment and appointment of trustees

Thirteen competent persons shall form the Trustees who shall be persons who through residence, occupation, employment or otherwise, have special knowledge of the area of benefit. On approval by the existing Trustees an individual will be appointed for five years, extensions for further periods of five years will require Trustee approval. An individual shall on appointment at the first meeting sign the minutes as declaration of acceptance and willingness to act for the Charity.

A Trustee shall cease to be a Trustee if they are: -

(a) disqualified from acting as a Trustee by virtue of any provision of the Charities Act 2011 (as amended or replaced) (b) in the opinion of a majority of the Trustees unable to manage their affairs due to illness, injury or such disabilities. (c) in the opinion of a majority of Trustees absent, without good reason, from a number of meetings over a period of time. (d) giving not less than one month's notice of their intention to resign

Officers

The Trustees at each Annual General Meeting (AGM) shall elect a Chair, Vice Chair, Treasurer and Investment Committee Chair. The maximum an Officer can hold the same position is for five years in any ten-year period.

The charity may choose to make appointments of varying amounts of time to fulfil particular functions such as Secretary, Press Officer, Grants Committee and Investment Committee. A proposer and seconder are required to nominate any officer or appointment for approval by a simple majority of Trustees present and voting.

CONGLETON INCLOSURE TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 244136 Principal address Congleton Town Hall High Street Congleton Cheshire CW12 1BN Independent Examiner Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET Secretary Ms Jo Money Congleton Inclosure Trust Town Hall Congleton Cheshire CW12 1BN Bankers

National Westminster Bank Plc 46 High Street Congleton Cheshire CW12 1BE Investment Managers Brewin Dolphin 12 Smithfield Street London EC1A 9BD Solicitor Myers Solicitors Ltd 33-43 Price Street Burslem Stoke on Trent ST6 4EN Registered Address Congleton Inclosure Trust Town Hall High Street Congleton Cheshire CW12 1BN

www.congletoninclosuretrust.org.uk info@congletoninclosuretrust.org.uk

Organisational structure

The Trust have established an Investment Committee to advise and liaise directly with Brewin Dolphin. The Trustees on this committee are J Beardmore, J Beech, A N Curwen, J Davies and I Watson.

CONGLETON INCLOSURE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees' report was approved by the Board of Trustees.

..............................

Trustee

Date: .............................................

CONGLETON INCLOSURE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CONGLETON INCLOSURE TRUST

I report to the trustees on my examination of the financial statements of Congleton Inclosure Trust (the charity) for the year ended 31 December 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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

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 financial statements to be reached.

Peter McNulty FCA FCCA

Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET England

Dated: .........................

CONGLETON INCLOSURE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted Unrestricted
funds funds
2023 2022
Notes £ £
Income from:
Investments 3 136,570 130,409
Total income 136,570 130,409
Expenditure on:
Charitable activities 4 132,425 98,876
Total expenditure 132,425 98,876
Net gains/(losses) on investments 9 237,785 (600,018)
Net income/(expenditure) and movement in funds 241,930 (568,485)
Reconciliation of funds:
Fund balances at 1 January 2023 5,260,056 5,828,541
Fund balances at 31 December 2023 5,501,986 5,260,056

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CONGLETON INCLOSURE TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Unrestricted funds		 2023
£
-
313,798
313,798
(1,740)		 £
13
5,189,915
5,189,928
312,058
5,501,986
5,501,986
5,501,986
5,501,986		 2022
£
456
186,909
187,365
(1,380)		 £
19
5,074,052
5,074,071
185,985
5,260,056
5,260,056
5,260,056
5,260,056

The financial statements were approved by the trustees on .........................

..............................

Trustee

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

Charity information

Congleton Inclosure Trust is an unincorporated charitable trust.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's scheme dated 6 January 1994 as amended on 29 Jan 2020, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity 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 charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity 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 charity's balance sheet when the charity 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.

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

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 method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 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 charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Rental income (379) 59
Income from listed investments 132,969 130,350
Interest receivable 3,980 -
136,570 130,409

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

4 Expenditure on charitable activities

Direct costs
Grant funding of activities (see note 5)
Share of support and governance costs (see note 6)
Support
Governance
Analysis by fund
Unrestricted funds		 Grant
funding
2023
£
87,537
36,188
8,700
132,425
132,425		 Grant
funding
2022
£
57,367
34,129
7,380
98,876
98,876

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Grants payable

Grant Grant
funding funding
2023 2022
£ £
Grants to institutions:
Act It Out - 500
Astbury Mere Trust 8,350 -
Asthma Relief - 1,140
Beartown Patchworkers 500 400
Bromley Farm Community Development Trust 600 -
Christies - 5,000
Congleton Community Projects 2,330 1,250
Congleton Harriers 2,000 1,063
Congleton High School 6,000 -
Congleton Learning Partnership 5,460 -
Congleton Live 900 1,000
Congleton & Mossley Junior Cricket 9,000 -
Congleton Museum Trust 15,000 -
Congleton Musical Theatre 1,000 1,000
Congleton Players 250 -
Congleton Pentecostal Church - 1,980
Congleton Pride Charitable Trust - 396
Congleton Youth Orchestra 2,000 14,900
Crossroads Care - 2,399
East Cheshire Hospice - 10,000
Electric Picture House 1,997 1,450
Friends of Congleton Park 750 1,250
Guide Dogs For The Blind - 500
MacMillan Cancer 1,000 1,000
Mossley Old School Trust - 5,000
New Life Church - Congleton Food Bank 500 2,000
Repair Cafe - 250
Rotary Club (Bonfire) - 1,395
RSPCA 2,000 -
SOL Theatre School 2,000 1,050
The Green Tree House 900 -
Ukraine Support - 2,444
Vale Allotments 25,000 -
87,537 57,367

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

6 Support costs allocated to activities

Computer Expenses
Insurance
Annual Luncheon & Refreshments
Telephone, Postage, Books & Stationery
Sundries
Portfolio management fees
Computer equipment depreciation
Legal & Professional
Rent
Travel
Governance costs
Analysed between:
Grant funding		 2023
£
406
450
466
155
200
32,019
6
1,744
275
467
8,700
44,888
44,888		 2022
£
398
438
495
197
181
32,411
9
-
-
-
7,380
41,509
41,509

7 Trustees

There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

9 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2023 2022
Gains/(losses) arising on: £ £
Revaluation of investments 231,758 (253,533)
Sale of investments 6,027 (346,485)
237,785 (600,018)

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 January 2023 689
At 31 December 2023 689
Depreciation and impairment
At 1 January 2023 670
Depreciation charged in the year 6
At 31 December 2023 676
Carrying amount
At 31 December 2023 13
At 31 December 2022 19

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12
Fixed asset investments
Cost or valuation
At 1 January 2023
Additions
Realised investment gains/(loss)
Listed investments net unrealised
Disposals
At 31 December 2023
Carrying amount
At 31 December 2023
At 31 December 2022
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
14
Creditors: amounts falling due within one year
Accruals and deferred income		 Listed
investments
£
5,074,052
1,379,324
231,758
6,027
(1,501,245)
5,189,916
5,189,916
5,074,052
2023
2022
£
£
-
(1)
-
457
-
456
2023
2022
£
£
1,740
1,380

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources Gains and
At		 31 December
2023 resources expended losses 2023
£ £ £ £ £
General funds 5,260,056 136,570 (132,425) 237,785 5,501,986

CONGLETON INCLOSURE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15 Unrestricted funds (Continued)
Previous year: At 1 January Incoming Resources Gains and
At		 31 December
2022 resources expended losses 2022
£ £ £ £ £
General funds 5,828,541 130,409 (98,876) (600,018) 5,260,056

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).