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2022-12-31-accounts

Charity registration number 246018 Homes and Communities Agency number A1752

GRAND FEOFFMENT CHARITIES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

GRAND FEOFFMENT CHARITIES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P F Cook
I J Wilson (Appointed 31 August 2022)
J Scanlon (Appointed 31 August 2022)
G T McLeod
R Shearly-Sanders
C Schleip
Very Rev'd J Delfgou
K Grimsey
Charity number 246018
Homes and Communities Agency A1752
Principal address Office 20
Hadleigh Business Centre
Crockatt Road
Hadleigh
IP7 6RH
Independent examiner Z Plowman
Ensors Accountants LLP
Saxon House
Moseley's Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY

GRAND FEOFFMENT CHARITIES

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 17

GRAND FEOFFMENT CHARITIES

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The charity is formally known as Grand Feoffment Charity but is commonly referred to as Hadleigh Grand Feoffment Charity.

The trustees present their annual report and financial statements for the year ended 31 December 2022.

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 scheme, 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

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Charity’s main function is the provision of and maintenance of almshouses. There are 31 of these, all in Hadleigh. The Charity Scheme of 25 June 1970 provides that they shall be allocated to ‘poor persons’ of the former Urban District Council of Hadleigh. There are usually some 25 registered eligible applicants. The Trustees’ policy is to allocate solely based on perceived need.

The almshouses are occupied by charity licence. The Charity bears the cost of all repairs, external decorations, buildings insurance and water rates. The residents are responsible for internal decorations, electricity, and gas charges, and for Council Tax. All 31 almshouses have loft insulation, double glazing and where possible, cavity wall insulation. At the year-end, 20 had gas fired central heating, 2 had electric warm air heating, 3 had modern electric heating, the remaining 6 had night storage heating. Of those, 4 have gas fired central heating installed since the year end, in one the installation is almost complete, and installation for the last one is on order

There were 2 almshouses vacant at the year end. One is to be reoccupied following renovation, the second is a listed building and is undergoing more extensive work.

No rent as such is charged. A maintenance charge is payable on all recent allocations; £130 per month at the end of the year end, since increased to £138 per month. For qualifying residents, the local authority treats this payment as rent for benefit purposes.

The Charity’s income drives from agricultural rents and maintenance contributions, with a lesser amount from investment income. The Trustees are mindful of the current uncertainty as to the future stability of farm incomes. They are also aware of the (relatively) imminent increase in minimum Energy Performance certificates for new ‘lettings’ from E to C. The Charity will need to comply with this increase as it is a registered social provider and would in any event not want its accommodation to be below the standard of a private rented sector dwelling.

Financial review

During the year the charity has received income of £117,749 (2021: £98,176).The additional income this year being the heating installation grants and the defibrillator grant. The charity has however increased its expenditure to £98,525 from £72,629 last year, the reason for this increase is partly due to higher service costs for the properties. The increased expenditure has led to a surplus of £12,371 in the year, compared to the surplus of £39,195 last year.

The charity has capitalised £118,697 of costs this year as part of a large improvement works programme which have been carried out on multiple properties across the year.

Going concern

The Trustees continue to consider the charity to be a going concern for the foreseeable future, due to the strong level of unrestricted funds and sufficient working capital.

GRAND FEOFFMENT CHARITIES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Reserves policy

The charity holds funds in order to manage its charitable objects, key amongst is the provision of almhouses, which are included as unrestricted tangible fixed assets.

At the year end the charity held £3,007,553 (2021: £2,995,559) of unrestricted funds and £1,105 (2021: £728) of restricted funds. The restricted funds are in relation to the Joshua Nunn Charity, who per his will dated 12/10/1787, placed his estate sum of £100 which Parish of Hadleigh and the interest earned on this forever to be place out in bread and distributed in the parish church of Hadleigh, and John Fiske Charity, who per his will dated 20/08/1716 gave £10 per annum to be laid out in bread and distributed in the parish church of Hadleigh.

Structure, governance and management

The charity is a governed by its Scheme of 25 June 1970 as amended by the Scheme of 24 September 1984.

The trustees who served during the year and up to the date of signature of the financial statements were: P F Cook R Orriss (Appointed 25 January 2023 and resigned 31 August 2023) I J Wilson (Appointed 31 August 2022) J Scanlon (Appointed 31 August 2022) G T McLeod R Shearly-Sanders F Minns (Resigned 21 August 2023) C Schleip Very Rev'd J Delfgou R W Crisp (Resigned 30 November 2022) K Grimsey V A Aynsley (Resigned 27 April 2022) M Chisnall (Resigned 20 July 2022) B Lazenby (Resigned 7 August 2022)

Recruitment and appointment of trustees

The board of trustees regularly reviews its membership and assesses for any skill gaps. If any skill gaps are identified the trustees seek to recruit a suitable trustee.

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

P F Cook Trustee

29 November 2023

GRAND FEOFFMENT CHARITIES

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GRAND FEOFFMENT CHARITIES

I report to the trustees on my examination of the financial statements of Grand Feoffment Charities (the charity) for the year ended 31 December 2022.

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.

Z Plowman

Ensors Accountants LLP

Saxon House Moseley's Farm Business Centre Fornham All Saints Bury St Edmunds Suffolk IP28 6JY

Dated: 30th November 2023

GRAND FEOFFMENT CHARITIES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
13,803
-
Charitable activities
4
34,554
-
Investments
5
69,353
39
Total income
117,710
39
Charitable activities
6
98,525
-
Net gains/(losses) on
investments
11
(7,191)
338
Net income and movement in
funds
11,994
377
Reconciliation of funds:
Fund balances at 1 January
2022
2,995,559
728
Fund balances at 31
December 2022
3,007,553
1,105		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
13,803
-
-
34,554
32,911
-
69,392
65,235
30
117,749
98,146
30
98,525
72,629
-
(6,853)
13,648
-
12,371
39,165
30
2,996,287
2,956,394
698
3,008,658
2,995,559
728		 Total
2021
£
-
32,911
65,265
98,176
72,629
13,648
39,195
2,957,092
2,996,287

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

GRAND FEOFFMENT CHARITIES

BALANCE SHEET

AS AT 31 DECEMBER 2022

Notes
Fixed assets
Tangible assets
13
Investment property
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
19
Unrestricted funds		 2022
£
£
746,939
2,100,000
116,869
2,963,808
13,278
41,854
55,132
10,282
44,850
3,008,658
1,105
3,007,553
3,008,658		 2021
£
£
662,612
2,100,000
162,112
2,924,724
9,901
69,554
79,455
7,892
71,563
2,996,287
728
2,995,559
2,996,287		 2021
£
£
662,612
2,100,000
162,112
2,924,724
9,901
69,554
79,455
7,892
71,563
2,996,287
728
2,995,559
2,996,287
2,924,724
71,563
2,996,287
728
2,995,559
2,996,287

The financial statements were approved by the trustees on 29 November 2023

P F Cook Trustee

K Grimsey Trustee

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Grand Feoffment Charities is a an unincorporated charity commonly known as Hadleigh Grand Feoffment Charity and is governed by the Scheme dated 25 June 1970 as amended by the Scheme dated 24 September 1984.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's scheme, 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 investment properties 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.

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.

Income from the service charges receivable and rental income are recognised in the month it relates to.

Income from investments is recognised on a receipts basis.

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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. The collector fees are allocated on a 50/50 basis between Service costs and Management costs.

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:

Freehold land and buildings 5% - Straight Line Basis Plant and equipment 20% - Straight Line Basis

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 Investment property

Investment property, which is property held to earn rental income, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.8 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.

1.9 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).

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

1.11 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.

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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 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.

Derecognition of financial liabilities

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

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.

Investment properties

The charity holds investment property with a fair value of £2,100,000. The fair value of this property is based on expected market value of the various components and is therefore based on professional judgment.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Government grants 13,803 -

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Service charges - -
Maintenance contributions from residents 34,554 32,911

5 Income from investments

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Rental income
63,587
-
Interest receivable
5,766
39
69,353
39		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
63,587
59,688
-
5,805
5,547
30
69,392
65,235
30		 Total
2021
£
59,688
5,577
65,265

6 Expenditure on charitable activities

Unrestricted Unrestricted
2022 2021
£ £
Direct costs
Depreciation and impairment 34,371 29,924
Service costs 34,437 17,106
Repairs and maintenance 14,164 19,647
Management costs 15,553 5,952
98,525 72,629
Analysis by fund
Unrestricted funds 98,525 72,629

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

7 Analysis of charitable activity expenditure

Depreciation and impairment
Depreciation of housing properties
Depreciation of plant and machinery
Service costs
Collector's fees (50%)
Care and catering - heating allowance
Care and catering - christmas gift
TV licences
Insurance
Water rates
Heating and lighting
Row Chapel - repairs
Office costs
Row chapel repairs
Council tax
Repairs and maintenance
George Street Almshouses
Magdalen Road Almshouses
Groves Court Almshouses
Benton Street Almshouses
Management costs
Collector's fees (50%)
Affiliation subscriptions
Accountancy fees
Advertising
Postage and stationary
Sundry expenses
Bank charges		 2022
£
33,890
481
34,371
7,753
2,700
900
75
2,853
7,952
3,565
354
3,630
40
4,615
34,437
7,241
2,595
1,026
3,302
14,164
7,753
794
5,500
580
495
53
378
15,553		 2021
£
29,924
-
29,924
3,720
2,780
900
45
646
5,495
223
481
2,816
-
-
17,106
11,211
2,499
2,558
3,379
19,647
3,720
730
1,260
-
-
-
242
5,952

8 Independent examination fee

Independent examination fees for the year were £1,500 (2021: £341)

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No trustee expenses were incurred during the year.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2022 2021
Number Number
Collectors 2 2
There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

11 Gains and losses on investments

Unrestricted
Restricted
Total
Unrestricted
Restricted
funds
funds
funds
funds
2022
2022
2022
2021
2021
Gains/(losses) arising on:
£
£
£
£
£
Revaluation of
investments
(13,724)
338
(13,386)
13,648
-
Sale of investments
6,533
-
6,533
-
-
(7,191)
338
(6,853)
13,648
-		 Total
2021
£
13,648
-
13,648

12 Taxation

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

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

13 Tangible fixed assets

Freehold land
and buildings
£
Cost
At 1 January 2022
1,010,526
Additions
116,291
At 31 December 2022
1,126,817
Depreciation and impairment
At 1 January 2022
347,914
Depreciation charged in the year
33,889
At 31 December 2022
381,803
Carrying amount
At 31 December 2022
745,014
At 31 December 2021
662,612		 Plant and
equipment
£
-
2,406
2,406
-
481
481
1,925
-		 Total
£
1,010,526
118,697
1,129,223
347,914
34,370
382,284
746,939
662,612

14 Investment property

Investment property
2022
£
Fair value
At 1 January 2022 and 31 December 2022 2,100,000

Investment property comprises of freehold farm land which the charity rents out to generate income.

The fair value of the investment property has been determined by the trustees.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:

Cost
Accumulated depreciation
Carrying amount		 2022
£
40,883
-
40,883		 2021
£
40,883
-
40,883

The historical cost relates relates to improvements undertaken at one of the sites, whilst the actual land was gifted to the charity.

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

14 Investment property (Continued)
2022 2021
£ £
Freehold 2,100,000 2,100,000

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

15 Fixed asset investments

Cost or valuation
At 1 January 2022
Additions
Valuation changes
Disposals
At 31 December 2022
Carrying amount
At 31 December 2022
At 31 December 2021
16
Debtors
Amounts falling due within one year:
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Notes
Deferred income
18
Trade creditors
Accruals
18
Deferred income
Other deferred income		 Listed
investments
£
162,112
1,609
(13,385)
(33,467)
116,869
116,869
162,112
2022
2021
£
£
13,278
9,901
2022
2021
£
£
3,625
4,985
617
1,107
6,040
1,800
10,282
7,892
2022
2021
£
£
3,625
4,985

Deferred income is included in the financial statements as follows:

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

18 Deferred income

Deferred income (Continued)
2022 2021
£ £
Deferred income is included within:
Current liabilities 3,625 4,985
Movements in the year:
Deferred income at 1 January 2022 4,985 -
Released from previous periods (4,985) -
Resources deferred in the year 3,625 4,985
Deferred income at 31 December 2022 3,625 4,985

The deferred income relates to rent received in advance for period beyond 31/12/2022.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Gains and At 31
2022 resources losses December
2022
£ £ £ £
Joshua Nunn Charity 289 16 137 442
John Fiske Charity 439 23 201 663
728 39 338 1,105
Previous year: At 1 January Incoming Gains and At 31
2021 resources losses December
2021
£ £ £ £
Joshua Nunn Charity 277 12 - 289
John Fiske Charity 421 18 - 439
698 30 - 728

The Joshua Nunn Charity balance relates to investments held which are restricted to only be used on bread to be share out among the the parish of Hadleigh according to the will dated 01/07/1787.

The John Fiske Charity balance relates to investments held which are restricted to only be used on bread and in shifting clothing to be shared out among those on George Street and Parish of Hadleigh according to the will dated 20/08/1716.

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

20 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
General funds
Previous year:
At
General funds		 1 January
2022
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2022
£
£
£
£
£
2,995,559
117,710
(98,525)
(7,191)
3,007,553
1 January
2021
Incoming
resources
Resources
expended
Gains and
losses
At 31
December
2021
£
£
£
£
£
2,956,394
98,146
(72,629)
13,648
2,995,559

21 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Fund balances at 31 December 2022 are represented by:
Tangible assets
746,939
-
Investment properties
2,100,000
-
Investments
115,764
1,105
Current assets/(liabilities)
44,850
-
3,007,553
1,105
Unrestricted
Restricted
funds
funds
2021
2021
£
£
Fund balances at 31 December 2021 are represented by:
Tangible assets
662,612
-
Investment properties
2,100,000
-
Investments
161,384
728
Current assets/(liabilities)
71,563
-
2,995,559
728		 Total
2022
£
746,939
2,100,000
116,869
44,850
3,008,658
Total
2021
£
662,612
2,100,000
162,112
71,563
2,996,287

GRAND FEOFFMENT CHARITIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

22
Capital commitments
Amounts contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment
23
Related party transactions		 2022
£
2022
£
-		 2021
£
2021
£
20,000

The charity is under the control of the trustees.

There were no disclosable related party transactions during the year (2021 - none).