Moore Thompson Trusted Advisers Chartered Accountants DEEPING ST JAMES UNITED CHARITIES CHARITY COMMISSION REGISTERED NO. 248848 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
DEEPING STJAMES UNITED CHARITIES Content8 Page Charity Reference And Administrative Detai18 Trustees. Annual Report 2to4 Independent Auditor'8 Report 5t08 Statement of Financial Activities Statement of Financial Position 10 Notes to the Financial Staternent¥ 11 to22
DEEPING ST JAMES UNITED CHARITIES Charlty Referen¢e and Administratlve Detalls for the year ended 31st December 2022 Charlty registration number 248848 Board of Trustees Mr G Thompson (Chairl Mrs C Precey (Vice Chairl Mr L Bullock Mr S Goodchild Mrs C Halls Mr T Harwood Mrs K Shinkins-Hoppe Mrs J Stevens Mr P Ward Rev M Williams Charity Addre$s The Institute 38 Church Street Deeping Sl James Lincolnshire PE6 8HD Auditors Moore Thompson Bank House Broad Street Spalding PE11 1TB Banker$ Barclays Bank Pl Leicester LE87 2BB
DEEPING STJAMES UNITED CHARITIES Trustees. Annual Report for Ihe year ended 31 $t Decernb8r 2022 Th8 Board of Trustees have pleasure in submitting their annual report together with the audited financial stat8tn8nts of the Charity for the y8ar end8d 31 Dec8[nr 2022. Th8 Charities are regulat8d by a Sch8m8 of the Charity Corntni5sioners dat8d 14 JLJIY 1971 and subs8quent addition5, and OP8rate frorn the Institut8, 38 Church Stre8t, D8eping St Jarn8s, Lincolnshir&. The Trust88s h81d fiv8 tnain tneetings dLJring the year and a number of sub-comtnitt88 m88tings were also h81d tog8th8r with special rn8etings for particular proj8cts. The Truste85 ar8 listed below. Nam8 Mr Graham Thotnpson Ichairl Mr5 Carol Prece Vic8 Chair Mr Les Bullock Mr Steve Goodchild Means of a ointtnent Co-opted Co-opted Co-opted Co-opted Deeping St Jatn85 Parish Council appoint8e Co-opted Dee ing St Jatn85 Parish Council ap oint8e South Kesteven District Council a pointe8 Co-opted Ex Officio Mr5 Christine Halls Mr Trevor Harwood Mr5 Kate Shinkin5-Hop Mr5 Judy Stevens Mr P8ter Ward R8v. Mark Williatns Objects Th8 obj8Ct5 of the Charity are to make grants to b8neficiaries who reside within the Ec¢185iastical Parish of D8eping St James and Frognall for'.- reli8f of need., reli8f in sickn85S', public purpos8S', promoting the education (including Social and physical training) of young p80p18 who hav8 not attained the age of 25 y88r who in the opinion of th8 truste8s ar8 in n88d of financial assistanc8. Trustees, Re5ponsibilitie5 Charity law requires the trust8es to prepar8 financial statetn8nts for each financial y8ar which giv8 a true and fair view of the state of affair5 of the charity and of the incotn8 and exp8nditur8 of the charity for th8 y8ar th8n 8nd8d. In pr8paring thos8 financial stat8tn8nts th8 truste85 ar8 r8quired to., 5e18Ct suitabl8 accounting policies and apply th8m consist8nlly', make judgement5 and estirnates that are r88sonable and prudent., prepar8 the financi815t8tement5 on the going concem basis unless it 15 inappropriate to pr8sum8 that th8 charity will continue in operation. The Truste85 ar8 r8sponsible for keeping proper accounting records which disclose, with reasonab18 accuracy at any time, the financial position of the Charity and to enable them to ensure that the financial statetnents cotnply with the Charities Act. Th8y are also responsible for saf8guarding the asS8ts of the charity and hence for taking reasonab18 Steps for the prevention and det8Ction of fraud and other irregularities. Public Benefit Th8 Tru5t885 consid8r that th8 objects and aitns of th8 charity ar8 all to the b8n8fit of our Comtnunity and as such we would suggest that the following would demonstrate our corntnittn8nt to public benefit. Airn$ and Objectiv8¥ of the Trustee$ Th8 Tru5t885 continu8 to 8Xt8nd the Charitl85' involvement with organi58tion5 which r8gularly com8 Into contact with the sick and needy, and to enhanc8 provision for sports, arts and r8creational facilities, in th8 ar8a of b8n8fit. Th8y also s8ek to invest 8ttectively to provid8 a current incom8 as w811 as to safeguard land if possibl8 irnprovel th8 capital ass8ts in ord8r to tnaxitnis8 future incotn8 as is a requiretnent of the Charity Corntni5sion.
DEEPING STJAMES UNITED CHARITIES Trustees. Annual Report for Ihe year ended 31 $t Decernb8r 2022 Achiev8ment¥ W8 have continu8d to work with organisations which tnight r8fer pot8ntial beneficiaries to the Charities and which th8tnselves provide h81p to our corntnunity. Th8 Tru5t885 have fund8d CitlZ8ns Advice enabling referral of clients for assistanc8 as part of a s81f-h81p package. Thes8 fac8 to face and tel8phon8 Sessions continue to b8 a valuable asset for local r8sidents in these cha118nging titnes in particular with debt advic8 and referring p8ople to additional 50urc85 of help. Th8 Charity is able to r8f8r cli8nts to th8 local Foodbank, with whotn we hav8 fortned a partnership, as they sUPPOrt our aims and objectlV8S. Another oryanisation with which we hav8 8 strong relationship is Th8 M8n'5 Group. Pr8mis85 8r8 5uppli8d at norninal r8nt to th8 Men's Group (charity No.10669921 which assists with equiprnent for th058 in need through illness and disability. A srnall public garden owned on the riverbank is regularly maintain8d and used by the local comtnunity. Th8 Tru5te85 5UPPOrt fatnilies and childr8n through contact with the thr8e schoo15 in De8ping St Jatnes and Mark8t Deeping. Grants continue to b8 h8ld by 8ach school to be used for the b8n8fit of pupils frotn lower-incom8 fatnili85 who are in need. In addition, fatnilies of children frotn De8ping St Jatnes and Frognall 8ducat8d outside of th8 thre8 schools can apply direct and w8 have tnad8 Oth8r local schools aware of this. A sutnrnary of sorne of the assistanc8 given by way of grants, in the various heads of relief, is s8t out below. Relief in need W8 have h81ped with the cost of school unifortn, tnusic lessons, cotnputer equiptnent, coun5elling for pupi15 and with the provision of replacetnent whit8 goods, new hous8hold equipm8nt, paytnent for 85S8ntial hous8hold r8pairs, Cost of rernovals and a5SiStanc8 Wlth day-to-day living costs for farnilies on low incotnes in crisis. In addition, w8 have given a stnall nutnber of grants equiva18nt in arnount to book grants to older r85idents who are und8rtaking further education. Grant mad8 to provide rnaterials for a Course on budgeting run by Christians Against Poveriy. Education We have made grants to students studying for a first d8gree at University to asslst with the purchase of books. W8 have funded the local schools Music Programtne, school Arts Events and supported pupils with their Duke of Edinburgh awards. Relief in Sickne$s A numb8r of parishioners hav8 be8n help8d with trav81 expenses to both local hospitals and to specialist units further afield when treatment has been ne8d8d. We have also assist8d with the puhSe of sP8cialist tnedical equiprnent and help8d with the purchase of a mobility vehicle. We also rnade a grant to allow a disab18d person to hav8 a conva185C8nt holiday with carers. Public Purpos•s Support is r8gularly giv8n to a nurnb8r of local corntnunity groups. We have also contributed to the cost of providing a cotnmunity garden in the local cotnrnunity centre. Th8 Tru5te85 have r8nted 43, Church Street to the D88pings Foodbank for a pepp8rcorn rent of £1 plus the utility costs and the Soouts Canoe Club. Th8 Tru5te85 also continue to allow the Institute to b8 used, at no cost as a tneeting place for various local groups, at no cost when it is availabl8.
DEEPING STJAMES UNITED CHARITIES Trustees. Annual Report for Ihe year ended 31 $t Decernb8r 2022 W8 have also 5UPPOrt8d th8 local Scout5 and Guides, th8 Deeping Switnming Club, Exotic Pet R8fug8, Priory Church Hall and help pay for insuranc8 for variou5 Cotnmunity groups. st Thomas. Day A total of £3,815 was distributed to 109 applicants R858rves Poli¢y Th8 truste8s hav8 r8view8d th8 charity'5 n8ed5 for res8rves in lin8 Wlth th8 guidance issued by the Charity Corntni5sion. Cotnrnencing in 2009 the Trust8&s have ensLJf8d that all financial charges against th8 charity are paid before oalculating the atnount to be distributed in grants. In order to safeguard our reserv85 and maximise our retums we have split our reserves thre8 ways.. in property and land l in housing l in inv85ttn8nts. The charity's investtnent asset5 ar8 Wlth CCLA and w8 are pl8ased to r8POrt that this has had a positive effect on our incotne. The Trust8es fortnally review the oharity's inv85ttn8nt Strategy each year. Th8 charitrfs incom8 is tnainly frotn inv85tm8nts and r8nts and the Truste85 ar8 COrntnitt8d by their Constitution to spending their inoorne on an annual basis wh8n8ver possibl8. Th8 budg8t available for distribution during th8 year is based on unspent incom8 frotn th8 previous year18ss anticipat8d adrninistration 8xp&nses. Any undistributed inoome is shown separately on the accounts and is available to meet any fure comtnittnent5. Future plans Th8 Tru5te85 continu8 working with an Architect to draw up plan5 to d8velop the Cr05s School site. Our intentions are to dev81op a corntnunity hub to benefit residents of the Parish of D8eping St Jarn8s and Frognall. It 15 hop8 the first phase of the building work will be carried out in th8 sumtner of 2023. Risk Management Our Risk Regist8r is subject to annual r8view by Truste85 and this was undertaken in January 2022 as part of the budget setting process. Contact Addr8¥¥ Th8 Institute 38 Church Stre8t D8eping St Jarn8S Lincs PE68HD Telephon8.' 01778 344707 Clerk.. Ms J Banks, email.. dsjunitedcharities@btconnect.com Th8 Tru5te85 ar8 required by law to report Serious Incid8nts to the Charity Corntnission and in 2023 no s8rious incidents occurred. This report was approved by the Trustees on 17 May 2023 and signed by Grahatn Thotnpson Trustee and Chair Carol Precey Trust89 and Vice Chair
DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Trustee$ of Deeping St James United Charities for the year ended 31 $t De¢ember 2022 Oplnlon We have audited the financial statements of Deeping Sl James United Charities for the year ended 31 December 2022 which comprise the slalement ol financial activity, statement of financial position, the Statement ol Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom A¢¢ounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the charity s trustees, as a b(xJy, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity s trustees those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the charity's trustees as a tx)dy, for our audit work, for this report, or for the opinions we have formed. In our opinion the financial statements= give a true and lair view of the slate of the charity's allairs as at 31 December 2022 and ol its incoming resources and applications ol resources, lor the period then ended- have been properly prepared in accordance with United Kingdom Generally Awepted Awounling Practice., have been prepared in accordance with the requirements of the Charities Act 2011. Ba$1$ for oplnlon We conducted our audit in awordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities lor the audit ol the financial statements section ol our report. We are independent ol the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sullicient and appropriate lo provide a basis for our opinion. Con¢lusion$ relating to going ¢on¢ern We have nothing to report in respect of the following matters in relation to which the ISAS IUKI require us lo report to you where.. Based on the work we have performed, we have not identified any material un¢ertanties relating to events or conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going concern for a period ol al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the Iruslees wth respect to going concern are described in the relevant sections of this report.
DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Trustee$ of Deeping St James United Charities for the year ended 31 $t De¢ember 2022 Other Informatlon The Iruslees are responsible lor the other information. The other information comprises the information included in the Iruslees, annual report, other than the financial slalements and our auditor's report Ihereon. Our opinion on the financial statements does not cover the other information and, except to the exlenl otherwise explicitly slated in our report, we do not express any form of assurance ¢on¢lusion Ihereon. In connection with our audit ol the financial statements, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. 11 we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 11, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required to report that fact. We have nothing to report in this regard. Matter$ on whleh we are requlred to report by ex¢eptlon We have nothing to report in respect of the following matters in relation to which the Charities IAccounts and Reports) Regulations 2008 require us lo report lo you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report., or sutticienl accounting [OrdS have not been kept., or the financial slalements are not in agreement with the awounling records., or we have not received all the information and explanations we require lor our audit. Re$pon$ibilitie$ of tru$tees As explained more fully in the Iruslees, responsibilities statement set out on page 3, the Iruslees are responsible lor the preparation ol financial statements which give a true and fair view, and lor such internal Control as the Iruslees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are resFX)nsible for assessing the charills ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis ol accounting unless the trustees either intend lo liquidate the charity or to cease operations, or have no realistic alternative but lo do so. Auditor'$ responsibilities for the audit of the financial statement$ We have been appointed as auditor under section 145 01 the Charities Act 2011 and report in awordance wth regulations made under section 154 01 that A¢1.
DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Tru$tee$ of Deeping St James United Charities for the year ended 31 $t De¢ember 2022 Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when il exists. Misslatemenls can arise from fraud or error and are considered material il, individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial stalemenls. Irregularities, including fraud, are instances ol non-compliance with laws and regulations. We design procedures in lines with our responsibilities, outlined above, to delect material mislatements in respect ol irregularities, including fraud. The specific procedures lor this engagement and the exlenl lo which these are capable ol detecting irregularities, including fraud is detailed below.. Our approach lo identifying and assessing the risks of material mistatemenl in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team colltivelY had the appropriate competence, capabilities and skills lo identify or recognise non-compliance with applicable laws and we identified the laws and regulations applicable to the Charity through discussions with Iruslees and other management, and from our knowledge of the charity sector and experience of the client. we focused on specific laws and regulations which we considered may have a direct material ettecl on the financial statements or the operations of the charity. we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence- and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptability ol the charity's financial statements to material mistalement, including obtaining an understanding of how fraud might occur, by., making enquiries ol management as to where they considered there was susceplability lo fraud, their knowledge ol actual, suspected and alleged fraud., considering the internal controls in place to mitilage risks of fraud and non-compliance with laws and To address the risk of fraud through management bias and override ol controls, we= performed analytical procedures lo identify any unusual or unexpected relationships- lesled journal entries to identify unusual transactions., investigated the rationale behind significant or unusual Iransaclions. Because ol the inherent limitations of this audit, there is a risk that we wll not del1 all irregularities, including those leading lo a material mistalement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware ol instances of non-compliance. The risk is also greater regarding irregularities o¢¢uring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Tru$tee$ of Deeping St James United Charities for the year ended 31 $t De¢ember 2022 As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional sceplicism throughout the audit. We also.. Identify and assess the risks ol material misstatement ol the financial statements, whether due to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sutticient and appropriate to provide a basis lor our opinion. The risk of not detecting a material misslatemenl resulting from fraud is higher than lor one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override ol internal control. Obtain an understanding ol internal control relevant lo the audit in order lo design audit procedures that are appropriate in the cir¢umslan¢es, bul not for the purpose of expressing an opinion on the effectiveness of the charity s intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness ol awounling estimates and related disclosures made by the Iruslees. Conclude on the appropriateness of the trustees, use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or conditions that may cast significant doubl on the charity s ability to continue as a going concern. If we conclude that a material uncertainly exists, we are required to draw attention in our auditor's report lo the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date ol our auditor's report. However, future events or conditions may cause the charity to cease lo continue as a going concern. Evaluate the overall presentation, slru¢lure and ¢onlenl of the financial slatemenls, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves lair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and liming ol the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. U$e of our report This report is made solely to the charity s trustees, as a b(xly, in accordance with Part 4 of the Charities (Awounls and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity s trustees those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Moore Thompson Chartered awounlanls & statutory auditors Bank House Broad Street Spalding PE11 1TB Dated.. 3 August 2023
DEEPING STJAMES UNITED CHARITIES Statement of Financial Activities for the year ended 31 St Decernber 2022 Restated 2021 Unrestrici•d Endowmgnt 2022 Nol•S Incorning R8source$ Investtn8nt incotne 267,157 267,157 262,016 Donations 50 50 Governrnent grants 171 171 70 Total Incoming Re#ourcè$ 171 267,207 267,378 262,086 Resource5 Expended Costs of generating funds Inv8Sttn8nt tnanagernent costs 30,759 30,759 31,232 Charitable a1viti85 63,995 63,995 83,637 Governance costs 14,095 14,095 9,792 Total Re$ource# Expènded 108,849 108,849 124,661 Net Incoming I (Outgoing) Re$ources Before Oth•r Recognised Gain8 1108,6781 267,207 158,529 137,425 Gain$ I (Losses) On Inve$trnènt As$et# 148,1531 1381,9381 1430,0911 986,912 Tran$fer$ 267,208 1267,2081 N•t Movernent In Funds 110,377 1381,9391 1271,5621 1,124,337 Total Fund$ Brought Fopward 863,832 7,591,797 8,455,629 7,331,292 Total Fund$ Carried Fopward 974,209 7,209,858 8,184,067 8,455,629 All incorne and 8xp8nditure derives frotn continuing a1VItIes. The stat8tn8nt of financial activities includes all gains and losses recognis8d during the year.
DEEPING STJAMES UNITED CHARMES Statement of Financial Position as at 3181 December 2022 Restated 2021 2022 Notes Fixed Asset$ Tangib18 fixed ass8ts Inv85ttn8nts 121 7,715,362 7,715,483 163 8,144,423 8,144,586 Current Ass81$ Debtor5 Gash at bank 222,145 252,486 474,631 155,818 159.800 10 315,818 Creditors= Atnounts falling due within one year 6,047 4,575 Net Current Assgts 468,584 311,043 Net a$¥8ts 8,184,067 8,455,629 Funds Of The Charity Endowm8nt Fund5 P8rtnanent Endowtnent 12 7,209,858 7,591,797 Unr8Strioted funds 12 974,209 863,832 8,184,067 8,455,629 The financial staternents were approv8d and authoris8d for issue by th8 Board on 13 July 2023. Signed on behalf of the board of trustees Mr G Thornpson Chair Mrs C Prec8y Vio8 Chair The notes on Pages 11 to 22 fortn part of these financial stat8m8nts. 10
DEEPING STJAMES UNED CHARITIES Note5 to the Financial Statement5 for the year ended 31$t Decernber 2022 Sumrnary of ¥ignificant accounting policie¥ General inforrnation and basis of preparation The address of the regist8red offic8 is given in the charity InfOatIOn of th8S8 financial stat8tn8nts. The natur8 of the charity's operations and principal actwities are grant rnaking and community support. The charity con5titut8s a public b8n8fit entity as d8fined by FRS 102. Th8 financial stat8tn8nts hav8 be8n prepared in accordance with Accounting and Reporting by Chariti85'. Statement of Recomrnend8d Practice applicable to charities preparing th8ir accounts in accordance with the Financial R8POrting Standard applicable in th8 UK and R8public of Ireland IFRS 1021 issued in October 2019, the Financial R8POrting Standard applicable in th8 United Kingdorn and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK G8n8rally Acc8Pted Practice as it applies frorn 1 January 2015. The financial 5tat8tnent5 ar8 prepar8d on a going concern basis und8r the historic cost convention, tnodified to include ¢8rtain it8ms at fair value. The financial statetnents are prepared in sterfing which is the functional Currency of the charity. The significant accounting polici8s applied in the pr8paration of thes8 financial stat8tn8nts ar8 set out below. Th8se polici85 have been consistently appli8d to all y8ars pres8nt8d unless otherwis8 Stated. Unrestricted funds Unrestricted funds are availabl8 for use at the discr8tion of th8 trustees in furth8rance of th8 general Obje1v85 of the Charity and which have not b8en designat8d for other purposes. Designated funds Compris8 unrestricted funds availab18 for us8 at the discretion of the trust8es in furtherance of th8 g8neral objectives of th8 charity and which hav8 not b88n d8signated for oth8r purpos8S. Restricted funds Restrict8d funds ar8 fund5 which are to b8 LJS8d in accordanc8 Wlth specific r8Strictions irnposed by donors or which hav8 be8n rais8d by th8 charity for particular purposes. The cost of raising and adtnini5tering Such funds ar8 charg8d against the specific fund. The aitn and us8 of each r8Strict8d fLJnd is set out in the notes to the financial staternents. Endowrnent funds Endowm8nt fLJnds represent thos8 ass8t5 which rnust b8 h81d pertnanently by the charity. Incorne arising on the endowtn8nt fund5 can b8 US8d in accordance with the objects of th8 charity and is included as unrestrict8d incotn8. Any Capital gain5 or Ioss8s arising on the inv8Stm8nts fo part of th8 fund. Income rÈeognition All incotning resourc8s ar8 includ8d in th8 Stat8m8nt of Financial Activiti85 ISOFAI wh8n th8 charity is 18gally 8ntit18d to th8 incotne after any p8rtortnanc8 conditions hav8 be8n n18t, the atnount can b8 tneasured r81iably and it is probab18 that the incotn8 will received. For donations to be recognised the charity will hav8 be8n notified of th8 arnounts and th8 5ettlern8nt date in writing. If th8re are conditions attached to the donation and this r8quir8s a18V81 of p8rformance b8fore 8ntitletnent can be obtain8d th8n incotn8 is deferr8d until those condition5 ar8 fully tnet or th8 fulfiltnent of thos8 conditions is within th8 control of the harity and it is probab18 that th8y will b8 fulfilled. For18gacies, 8ntitletnent is th8 earlier of th8 charity b8ing notified of an itnp8nding distribution or the legacy b8ing receiv8d. At this point incotne is recogni5ed. On occasion18gacies will b8 notified to th8 charity howev8r it 15 not possible to rneasur8 the atnount exp8Cted to b8 distribLJted. On th85e occasions, th8 legacy is tr8ated as a contingent a5S8t and disclosed. No atnount 15 included in the financial staternents for volunteer titne in line with th8 SORP. Further detail is given in the Trust88s' Annu81 R8POrt. Incom8 frotn gov8rnrn8nt and other grants are r8cogni58d at fair valu8 when the charity has 8ntitletnent aft8r any performanc8 conditions have b8en tnet, it is probable that the inootne will be received and the amount can be measured reliably. If entillernent is not tnet th8n th8S8 atnounts are def8rr8d.
DEEPING STJAMES UNED CHARITIES Note5 to the Financial Statement5 for the year ended 31$t Decernber 2022 Inv8Strn8nt incom8 is 8amed through holding ass8ts for inv8Sttn8nt purposes such as shar8s and property. It includes dividend5, inter8St and rent. Where it is not practicabl8 to identify investment manag8tn8nt costs incurr8d within a schetne with reasonable accuracy th8 inv85ttn8nt incotne 15 report8d n8t of th8S8 Costs. It is includ8d wh8n th8 arnount Can b8 tn8asured reliably. Int8rest incotn8 is r8cognis8d using th8 eff8Ctive inter85t tn8thod and divid8nd and r8nt incom8 is r8cognis8d as th8 charity's right to r8ceiv8 payrn8nt is establi5h8d. Oth8r incotne includes the conv8rsion of 8ndowrnent funds into incorne which arises when capital funds ar8 released to an incotne fund frorn 8xpendable endowtn8nts or when a charity ha5 authority to adopt a total r8turn approach to its P8rman8nt endowtnent fund. It also includes oth8r incorne such a5 gain5 on disp05als of tangible fix8d assets. Expenditure recognition All expenditure 15 accounted for on an accruals basis and has been classified under headings that aggr8gate all Costs related to th8 cat8gory. Expenditure is recogni5ed wh8re ther8 is a legal or con5tructiV8 obligation to make paym8nts to third parti8S, it is probable that the s8tt1etnent will be required and the atnount of the obligation Can be measured reliably. It is categ0ri5ed LJnd8r the following h8adings'. Charitable activities includ8 the c05t5 of the activities defined by the Charity's aitns for th8 benefit of th8 P8rson5 Cit8d in th8 charity obj8Ct5. Costs dir8Ctly attributable to a project have b8en allocat8d to that project. Oth8r non-allocatab18 ¢05t5 such a5 5alari8d ernployee5 and other fixed nature overheads hav8 be8n reallocat8d on the basis of th8 proporhon of f8es rec8ivab18 on receipt of th8 related grant tnonies in th8 y8ar. Costs of raising funds includ8s Inv85ttn8nt Managernent Costs that assist the charity to generate incotne fro Investrn8nts. Govemance costs include the costs which r81at8 to th8 general running of the Charity as opposed to the direct manag8tn8nt function inh8rent in g8n8rating funds, servic8 delivery and progratn or project work. Irreoov8rab18 VAT is oharged as an exp8nse against th8 activity for which expenditur8 arose. Grants payable to third parties are within th8 charitable objectives. Wher8 unconditional grants ar8 off8red, this is accrued as 500n as the r8cipient 15 notified of the grant, as this giv8s rise to a r8asonable 8xpectation that the recipi8nt will receive the grant5. Wh8re grants are conditional relating to perfoanCe th8n th8 grant is only accrued when any unfulfi118d conditions ar8 outside of the Control of th8 charity. Support costs allocation Support costs ar8 those that assist th8 wod( of th8 charity but do not dir8Ctly r8present charitab18 activit185 and include office c05t5, govemance costs adtninstrative payroll costs. They ar8 incurr8d directly in 5UPPOrt of 8xpenditure on th8 objects of th8 charity and include project manag8tnent carried out at H8adquarters. Wh8re support cost5 cannot be dir8Ctly attribut8d to particular h8adings they have b8en allocated to Cost of raising funds and expenditure on charitsble activities on th8 basis consist8nt with us8 of resourc8S. The analysis of th85e Costs is included in note 3. Tangible fixed asS•ts Tangible fixed assets ar8 stated at cost lor d88m8d costl or valuation 185S aCCUtnulat8d d8pr8ciation and accutnulated itnpairtn8nt105S85. Cost includes costs dir8Ctly attributable to rnaking the a5S8t capable of op8rating a5 intended. Depreciation is provided on all tangible fixed assets, at rat85 calculated to write off the cost, less 85titnat8d residual value, of each a5S8t on a syst8tnatic basis over it5 8xp8Cted us8ful lif8 as follow5.. Offic8 equipment 20¥. Straight lin8 Investment propertie¥ Inv8Strn8nt prop8rti85 for which fair value can b8 tneasured r81iably without LJndu8 Cost or 8ffort are m8aSLJred at fair value at 8ach reporting date with changes in fair value recognised in 'net gainslllossesl on inv85tm8nts' in the SOFA. Investments Investrnents are recogni5ed initially at fair value which is noallY th8 transaction price excluding transaction c05t5. Subsequently, they are m8asured at fair value with changes recognis8d in 'net gains I Ilossesl on inv85tments' in the SOFA if the shar85 ar8 publicly trad8d or their fair value can otherwise b8 measured reliably. Olher inv85ttn8nts are measured at cost less itnpairtnent. 12
DEEPING STJAMES UNED CHARITIES Note5 to the Financial Statement5 for the year ended 31$t Decernber 2022 Debtors and creditors receivable I payable within on• year Debtors and creditors with no stat8d inter85t rate and r8C8ivable or payab18 Within one year are recorded at transaction price. Any losses arising frorn impai81 are recognised in expenditur8. lrnpairmenl A5S8t5 not rneasur8d at fair valu8 ar8 r8view8d for any indication that the asset rnay be impaired at each balance she8t date. If such indication exists, th8 recoverable amount of the ass8t, or the asset's cash generating unit, is estimated and ¢otnpared to th8 carrying atnount. Wh8re the carrying atnount exc8ed5 its r8coverable atnount, an impairm8nt loss is recogni5ed in profit or loss unless the asset is Carried at a revalued atnount where the irnpairtnent10ss Is a revaluation d8cr8as8. Employee benefits Wh8n 8tnploy8es hav8 render8d s8rvice to the charity, short-term 8tnploy8e b8n8fits to which the etnployees are 8ntitled are recognised at the undiscounted atnount 8xpect8d to be paid in exchange for that service. Tax The charity is an exetnpt charity within th8 tneaning of schedu18 3 of th8 Chariti8s Act 2011 and is considered to pass th8 tests s8t out in Paragraph 1 SchedLJle 6 Financ8 Act 2010 and th8r8fore it tn88t5 th8 definition of a charitab18 otnpany for UK corporation tax purposes. Going concern The financial 5tat8tnent5 have be8n pr8pared on a going concern basis as th8 trustee5 b81i8ve that no rnaterial unc8rtainti8s exist. Th8 trust8es hav8 con5ider8d th818V81 of funds h81d and th8 expect8d level of incorne and expenditure for 12 tnonths frotn authorising these financial staternents. Th8 budg8ted incom8 and exp8nditure is suttici8nt with th8 levgl of reserves for the charity to bg able to continu8 as a going concern. Provision¥ Provisions ar8 recognised when the charity has an obligation at th8 balanc8 5h8et date as a result of a past 8vent, it is probable that an outtlow of 8conotnic benefits will b8 required in 5ettlem8nt and th8 arnount can be r81iably 8Stirnated. 13
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 2. Incorne Frorn Investments 2022 2021 Investtnent Prop8rt185 67,379 66,584 Investtnent5 list8d on a recogni5ed Stock 8xchangg, held in comtnon investtnent funds or oth8r collective investtnent sch8tn85 198,428 195,311 Other Investrnents COIF d8POSIt account Virgin charity deposit account Other int8r8St and divid8nd5 1,032 214 104 91 267,157 262,016 Incotne frorn investtnent was £267,15712021 £262,016) of which £267,15712021 £262,0161 was attributab18 to 8ndowrnents, £nil12021 £nill was attributabl8 to restricted and £nil12021 £nill wa5 attributable to unrestrict8d funds. Investment incotne is then transferred frotn th8 Endowtnent Fund to the Unr85tricted Fund as seen on the Staletnent of Financial Activities. 2022 2021 Incorne Frorn Donations and Lega¢ie$ Donations 50 50 Incotne frorn donation5 and18gacies wa5 £5012021 Enill of which £nil12021 Enill wa5 attributable to 8ndowments, £nil 12021 £nill was attributable to restrict8d and £5012021 £nill was attributable to unr85trict8d funds. 2022 2021 Incorne Frorn Governrnent Grants Ernployment Allowance 171 70 171 70 Incotne frorn Gov8rnrnent grants was £171 12021 £701 of which £nil12021 £nill was attributab18 to endowtnents, £nil 12021 £nill was attributsble to restri¢ted and £171 12021 £701 was attributsble to unrestricted funds. 3. R•sour¢g¥ Expended Investment Managemenl Costs Charitable Activities Govemanc8 Costs 2022 2021 Property Rates and council tax Insurance R8pairs Electricity and gas Letting ag8ncy fees 60 3,604 12,033 427 5,220 60 3,604 12,033 427 120 7,208 24,066 854 5,220 98 6,185 27,042 165 4,360 21,344 16,124 37,468 37,850 14
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 Adrnini5tration C18rk's salary Caretakerfs salary and casual wag85 Legal and prof8ssional f8es Bookke8ping and Accountant's f88s Miscellaneous exp8nses Depr8ciation office equiptnent 5,196 5,196 10,392 9,418 880 880 1,760 1,760 1,805 1,805 3,456 14,095 14,095 9,792 1,513 1,513 3,026 2,033 21 21 42 129 Charitable Activiti9¥ R81i8f in Ne8d R81i8f in Sickn8SS Public Purposes Educational Foundation St Thotnas, Day Charity 17,857 500 8,469 9,445 3,990 17,857 500 8,469 9,445 3,990 8,848 4,134 9,563 34,978 2,700 40,261 40,261 60,223 30,759 63,995 14,095 108,849 124,661 £nil12021 £nill of th8 above wsts w8re attributable to 8ndowment funds. £nil12021 £nill of the abov8 Costs were attributable to restrict8d funds. £111,79212021 £124,661) of the above costs wer8 attributable to unrestricted funds. N•t Income for th8 Or This is stat8d after charging. 2022 2021 D8pr8ciation Gains I ILosS851 On Investrnent Assets 42 1430,0911 129 986,912 430 049 987 041 4. Trustee$. and key management personnel remuneration and exp8nse¥ Th8 trust8es neither r8ceiv8d nor waived any r8tnuneration during th8 y8ar12021.. £nill. The total arnount of ernploye8 benefits rec8ived by key tnanag8ment personnel is £nil12021.. £nill. The reimburs8m8nt of trust8es 8xp8nses was as follows.. 2022 Number 2021 Nutnber 2022 2021 Charitab18 Purposes Miscellaneous Expenses 4,590 278 85 131 Included in the above are £nil12021.. £nill which have b8en paid dir8Ctly to third parties. No12021 none) trust89s are accruing pension arrang8tnents.
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 5. Auditorf$llndependent Exarniner's R8mun8ration 2022 2021 F88s payab18 to the charity's auditor for the audit of the charitys annual accounts F88s payab18 to the charity's auditor for oth8r services.. Year 8nd acoounts pr8paration Advice work Bookke8ping 2,880 1,380 6,060 10,320 6,132 6,132 Total fees 14,095 9,792 6. Staff Co#t$ and Ernployee Benefit$ The average rnonthly nutnb8r of ernployees and full titn8 equivalent IFTEI during the year was as follows.. 2022 Number 2022 FTE 2021 Nutnbgr 2021 FtE Raising funds Charitab18 activities Gov8rnanc8 Total staff costs and etnploy89 b8n8fit's was as follows.. 2022 Total 2021 Total Wages and salaries 12,152 12,152 11,178 11,178 No ernploye85 received total employe8 benefits lexcluding employer p8nsion costs) of tnore than £60,000. 7. Tangibl8 Fixed As$et¥ Office Equipment 2022 2021 Co$1 At 1 January 2022 Additions At 31 Dec8tnb8r 2022 1,148 949 199 1,148 1,148 Dèpreciation At 1 January 2022 Charge for th8 y8ar At 31 Dec8tnb8r 2022 985 42 1,027 856 129 985 Net Book Value At 31 Decernb8r 2022 121 163 At 31 Dec8tnb8r 2021 163 93 16
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 8. Investment Assets 8.1 Fixed As$et Investments 2022 2021 Mark8t valu8 at b8ginning of th8 y8ar Additions at cost ID8ficitl I Surplus on revaluation 7,979,396 6,792,484 200,000 986,912 430,091 Market value at end of year 7,549,305 7,979,396 8.2 Analysi$ Of Inve$tm8nt¥ 2022 2021 Market Value At Year End Investtnent properties Investtnent5 list8d on a recogni5ed Stock 8xchange, held in comtnon investtnent funds or other collective investtnent sch8tn85 2,605,000 2,349,000 4,944,305 5,630,396 7,549,305 7,979,396 Other Investrnents COIF d8POSit account Virgin charity deposit account 84,447 81,610 83,631 81,396 7,715,362 8,144,423 Investtnents which are over 5¥0 of the porttolio by tnarket value at 31 Dec8tnb8r 2022 are,. COIF Charities Ethical Investrnent Fund Incom8 Units £2,057,36812021.. £2,349,2191 COIF Charities Property Fund Incotne Units £2,283,451 12021.. £2,592,081) 9. Dèbtors 2022 2021 Trade D8btors Pr8payrnents Aocru8d Income 1,082 106,080 48,676 172,573 49,572 222,145 155,818 10. Cash At Bank 2022 2021 Current Account Bu5in8S5 Premium Account Busin8Ss Premiutn ME Awount 143,187 99,966 9,333 54,054 99,870 5,876 252,486 159,800 11. Creditor¥- Amount$ Falling Due Within One Year 2022 2021 Trade Cr8ditors Aocruals and Deferred Incotne 2,272 3,775 915 3,660 6,047 4,575
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 12. Analysi$ Of Charitable Fund¥ Endowment Fund$ 2022 Unrestricted Funds 2022 Total 2022 Balanc8 at 1 January 2022 (Resiaiedl Incotne Exp8nditure Gain I ILos51 on Inv8Sttn8nts Transfers 7,591,797 267,207 863,832 171 1108,8491 148,1531 267,208 8,455,629 267,378 1108,8491 1430,0911 1381,9381 267,208 Balance at 31 Dec8tnber 2022 7,209,858 974,209 8,184,067 Of the unrestricted res8rves £767,260 hav8 been d8signated for the r8d8veloptn8nt of the Cross School Site. 13. Analysi$ Of Net Assets Between Fund Relief in Need Public Purpo$e Fund Fund Relief in Sickness Fund Education Fund Endowment Fund Tangib18 fixed a5S8ts Fixed a5S8t investrn8nts Inv85ttn8nt Prop8rties Listed Inv8Sttn8nts Other Investtnents Current ass8t5 Creditors.. atnounts falling due within on8 y8ar 995,000 2,182,699 995,000 2,170,470 615,000 2,605,000 4,604,859 251,690 3,177,699 3,165,470 251,690 615,000 7,209,859 Endowrnenl Fund 2022 Unrestrict•d Fund 2022 Total 2022 Tangib18 fix8d a5S8ts Fix8d a5S8t investrnents Current ass8t5 Creditors.. atnounts falling due within on8 year 121 505,504 474,631 16,0471 121 7,715,362 474,631 16,0471 7,209,858 7,209,858 974,209 8,184,067 Th8 De8ping St Jatnes Unit8d Charities was foed by the Sch8tn8 of the Charity Comtnissioners dated 14 July 1971 by cornbining the following chariti8S'. The United Charities Iconstitued by the Scherne of 11 Dec8tnber 19081.. Th8 charity of Elizabeth Allam Th8 charity of Thomas Bunning Th8 charity of Joanna Royal lotherwise Boyall Th8 charity of Rob8rt Sharpe Th8 charity of Satnual Sharpg Th8 charity of Williatn Str8ton Th8 charity of Williatn Swan Th8 charity of Rob8rt Tygh8 (exclusive of the charity Called th8 Tyghe Prizes and the charity ¢a118d th8 Tyghe Schools) Th8 charity of Susannah Brewton The charity of John P8rkins Tyghe Prizes Tyghe Schools 10. 12. 18
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 14. Capilal Cornmitment¥ Financial cotnrnitm8nts hav8 b88n rnade to fund the dev81optnent of the Cross School sit8. Planning peIssIon has b88n obtained and costs in the contract to corntnenc8 the works arnount to £767,260. 19
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 P8g8s 21 to 22 81so forTn part ofth8S8 fin8ncial stat8m8nts show the comparatlV8 2021 fvgurgs. 20
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 15. Fund Comparative$ Stafemenf of Fin&nci4lAcfivifie$ Rèststed-... EndOwnt Unrestricted 2021 Incoming Resourc8¥ Inv8slm8nt incom8 262,016 262,016 Donafvons Govsmmentgrants 70 70 Tofal Incoming Resource$ 70 262,016 262,086 Resources Expended Costs ofg8n8r3ting fvnos - Inv8slm8nt m8n8g8ment¢osts 31,232 31,232 Ch8rit8ble actNvNfv&s 83,637 83,S37 Govsmance costs 9,792 9,792 Tofal Resources Expended 124,661 124,S61 Net Incoming/(Outgoing) Resources Before Ofher Recognised Gain (124,591) 262,016 137,425 (Losses) /G&ins On InvestrnentAsset$ 38,881 948,031 986,912 Tronsffers 262,016 (262,016) Net Movement In Fund$ 176,306 948,031 1, 124,337 Tofal Funds Brought Forward 687,526 6,643,766 7,331,292 Tofal Funds Carried Fonv#rd 863,832 7,591,797 8,455,S29 21
DEEPING STJAMES UNITED CHARITIES Notes to the Financial Statements for th8 year ended 31st December 2022 16. Fund Comp8r&tive$ Continued Rest8ted Endowment Funds 2021 An&lysi$ 01 Charitable Funds Unresfricted Funds 2021 Tor1 2021 Balanc8 at l January 2021 Incom8 Exp8nditurs Gain / (Loss) on Invsslmsnts Transfers 687,526 7LI (124,S61J 38,881 262,016 6,S43,76S 262,016 7,331,292 262,08S (124,S6Y) 986,912 948,031 (262,OlSJ Balan¢e at 31 Decsmber2021 863,832 7,591,797 8,455,S29 An&lysi$ OINef A¥sefs Belween Fund$ Reststed-... EndOwnt Fund 2021 Unrestricted Fund 2021 Tor1 2021 Tangibl8 fNxsd 8ss8ts FNx8d 3ss8t invsstmsnts Curr8nfras58ts Creditors.. amounts falling Mthin one y8ar 163 552,S27 315,Sl 7 (4,575) 163 8, 144,424 315,S17 (4,575) 7,591,797 863,832 7,591,797 8,455,S29 22