## **DEEPING ST JAMES UNITED CHARITIES**
## **CHARITY COMMISSION REGISTERED NO. 248848**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
**DEEPING ST JAMES UNITED CHARITIES**
**Contents**
||**Page**|
|---|---|
|**Charity Reference And Administrative Details**|1|
|**Trustees' Annual Report**|2 to 4|
|**Independent Auditor's Report**|5 to 8|
|**Statement of Financial Activities**|9|
|**Statement of Financial Position**|10|
|**Notes to the Financial Statements**|11 to 22|
**DEEPING ST JAMES UNITED CHARITIES Charity Reference and Administrative Details for the year ended 31st December 2023**
**Charity registration number** 248848
## **Board of Trustees**
Mr G Thompson (Chair) Mrs C Precey (Vice Chair) Mr S Goodchild Mr T Harwood Mrs K Shinkins-Hoppe Mrs J Stevens Revd M Williams Dr R Gamman
## **Charity Address**
The Institute 38 Church Street Deeping St James Lincolnshire PE6 8HD
## **Auditors**
Moore Thompson Bank House Broad Street Spalding PE11 1TB
## **Bankers**
Barclays Bank Plc Leicester LE87 2BB
## **DEEPING ST JAMES UNITED CHARITIES**
## **Trustees' Annual Report**
## **for the year ended 31st December 2023**
The Board of Trustees have pleasure in submitting their annual report together with the audited financial statements of the Charity for the year ended 31 December 2023.
The Charities are regulated by a Scheme of the Charity Commissioners dated 14 July 1971 and subsequent additions, and operate from the Institute, 38 Church Street, Deeping St James, Lincolnshire. The Trustees held five main meetings during the year and a number of sub-committee meetings were also held together with special meetings for particular projects.
The Trustees are listed below.
|The Trustees are listed below.||
|---|---|
|Name|Means of appointment|
|Mr Graham Thompson(Chair)|Co-opted|
|Mrs Carol Precey (Vice Chair)|Co-opted|
|Mr Les Bullock|Resigned July2023|
|Mr Steve Goodchild|Co-opted|
|Mrs Christine Halls|Term ended April 2023|
|Mr Trevor Harwood|Co-opted|
|Mrs Kate Shinkins-Hoppe|DeepingSt James Parish Council appointee|
|Mrs JudyStevens|Co-opted July2023|
|Mr Peter Ward|Resigned Janunary2024|
|Dr Richard Gamman|Co-opted July2023|
|Ms Emma Prissick|Co-opted July2023 / Resigned April 2024|
|Revd Mark Williams|Ex Officio|
## **Objects**
The objects of the Charity are to make grants to beneficiaries who reside within the Ecclesiastical Parish of Deeping St James and Frognall for:-
- relief of need;
- relief in sickness;
- public purposes;
- promoting the education (including social and physical training) of young people who have not attained the age of 25 year
- _who in the opinion of the trustees are in need of financial assistance.
## **Trustees’ Responsibilities**
Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for the year then ended. In preparing those financial statements the trustees are required to;
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Public Benefit**
The Trustees consider that the objects and aims of the charity are all to the benefit of our community and as such we would suggest that the following would demonstrate our commitment to public benefit.
## **Aims and Objectives of the Trustees**
The Trustees continue to extend the Charities’ involvement with organisations which regularly come into contact with the sick and needy, and to enhance provision for sports, arts and recreational facilities, in the area of benefit. They also seek to invest effectively to provide a current income as well as to safeguard (and if possible improve) the capital assets in order to maximise future income as is a requirement of the Charity Commission.
2
**DEEPING ST JAMES UNITED CHARITIES**
## **Trustees' Annual Report**
## **for the year ended 31st December 2023**
## **Achievements**
We have continued to work with organisations which might refer potential beneficiaries to the Charities and which themselves provide help to our community.
The Trustees have funded Citizens Advice enabling referral of clients for assistance as part of a self-help package. These face to face and telephone sessions continue to be a valuable asset for local residents in these challenging times in particular with debt advice and referring people to additional sources of help.
The Charity is able to refer clients to the local Foodbank as they support our aims and objectives.
Another organisation with which we have a strong relationship is The Men’s Group. Premises are supplied at nominal rent to the Men’s Group (charity No.1066992) which assists with equipment for those in need through illness and disability.
A small public garden owned on the riverbank is regularly maintained and used by the local community, for example, it is the starting point for two local parades.
The Trustees support families and children through contact with the three schools in Deeping St James and other local schools. Grants continue to be held by each school to be used for the benefit of pupils from lower-income families who are in need. In addition, families of children from Deeping St James and Frognall educated outside of the three schools can apply direct and we have made other local schools aware of this.
A summary of some of the assistance given by way of grants, in the various heads of relief, is set out below.
## **Relief in need**
We have helped through our school grants with the cost of school uniform, music lessons, computer equipment, counselling for pupils. For families on low income and in crisis the charity has helped with the provision of replacement white goods, new household equipment, payment for essential household repairs, cost of removals and assistance with day-to-day living.
In addition, we have given a small number of grants equivalent in amount to book grants to older residents who are undertaking further education.
Grant made to provide materials for a course on budgeting run by Christians Against Poverty.
We have funded the local schools Music Programme, school Arts Events.
## **Education**
We have made grants to students studying for a first degree at University to assist with the purchase of books.
## **Relief in Sickness**
A number of parishioners have been helped with travel expenses to both local hospitals and to specialist units further afield when treatment has been needed.
We have also assisted with the purchase of specialist medical equipment and helped with the purchase of a mobility vehicle.
We also made a grant to allow a disabled person to have a convalescent holiday with carers.
## **Public Purposes**
Support is regularly given to a number of local community groups.
We have also contributed to the cost of providing a community garden in the local community centre.
The Trustees have rented 43, Church Street to the Deepings Foodbank for a peppercorn rent of £1 plus the utility costs. In addition, the Scouts Canoe Club rents the outside building.
The Trustees also continue to allow the Institute to be used, at no cost as a meeting place for various local groups, at no cost when it is available.
3
**DEEPING ST JAMES UNITED CHARITIES**
**Trustees' Annual Report**
## **for the year ended 31st December 2023**
We have also supported the Carer Sitters Service, Bowls Club, Priory Church, LIVES, and the Boundary Club.
## **St Thomas’ Day**
A total of £3,815 was distributed to 109 applicants
## **Reserves Policy**
The trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission. Commencing in 2009 the Trustees have ensured that all financial charges against the charity are paid before calculating the amount to be distributed in grants.
In order to safeguard our reserves and maximise our returns we have split our reserves three ways: - in property and land / in housing / in investments. The charity's investment assets are with CCLA and we are pleased to report that this has had a positive effect on our income. The Trustees formally review the charity's investment strategy each year.
The charity's income is mainly from investments and rents and the Trustees are committed by their constitution to spending their income on an annual basis whenever possible.
The budget available for distribution during the year is based on unspent income from the previous year less anticipated administration expenses. Any undistributed income is shown separately on the accounts and is available to meet any future commitments.
## **Future plans**
The Trustees continue working with an Architect to draw up plans to develop the Cross School site. Our intentions are to develop a community hub to benefit residents of the Parish of Deeping St James and Frognall. Work on the outbuildings commenced in the summer of 2023 and is expected to continue through to July 2024.
## **Risk Management**
Our Risk Register is subject to annual review by Trustees and this was undertaken in January 2023 as part of the budget setting process.
## **Contact Address**
The Institute 38 Church Street Deeping St James Lincs PE68HD Telephone: 01778 344707 Clerk: Ms J Banks, email: dsjunitedcharities@btconnect.com
The Trustees are required by law to report Serious Incidents to the Charity Commission and in 2023 no serious incidents occurred.
This report was approved by the Trustees on 19 June 2024 and signed by
Graham Thompson Trustee and Chair
Carol Precey Trustee and Vice Chair
4
**DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Trustees of Deeping St James United Charities**
**for the year ended 31st December 2023**
## **Opinion**
We have audited the financial statements of Deeping St James United Charities for the year ended 31 December 2023 which comprise the statement of financial activity, statement of financial position, the Statement of 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 Accounting 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 body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent 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.
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2023 and of its incoming resources and applications of resources, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to 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 sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to
report to you where:
- Based on the work we have performed, we have not identified any material uncertanties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
- Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
5
**DEEPING ST JAMES UNITED CHARITIES**
**Independent Auditor's Report to the Trustees of Deeping St James United Charities**
**for the year ended 31st December 2023**
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to 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. If 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. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to 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 responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
6
**DEEPING ST JAMES UNITED CHARITIES Independent Auditor's Report to the Trustees of Deeping St James United Charities**
**for the year ended 31st December 2023**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in lines with our responsibilities, outlined above, to detect material mistatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material mistatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and
- • we identified the laws and regulations applicable to the charity through discussions with trustees l i 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 effect 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 of the charity's financial statements to material mistatement, including obtaining an understanding of how fraud might occur, by;
- making enquiries of management as to where they considered there was susceptability to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mititage risks of fraud and non-compliance with laws
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- • tested journal entries to identify unusual transactions;
- investigated the rationale behind significant or unusual transactions.
Because of the inherent limitations of this audit, there is a risk that we will not detect all irregularities, including those leading to a material mistatement 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 of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
7
**DEEPING ST JAMES UNITED CHARITIES**
## **Independent Auditor's Report to the Trustees of Deeping St James United Charities**
## **for the year ended 31st December 2023**
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity’s internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to 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 to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent 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 accountants & statutory auditors Bank House Broad Street Spalding PE11 1TB
Dated: 1 July 2024
8
## **DEEPING ST JAMES UNITED CHARITIES**
## **Statement of Financial Activities**
## **for the year ended 31st December 2023**
|**Notes**
**Incoming Resources**
Investment income
**2**
Donations
Government grants
**Total Incoming Resources**
**Resources Expended**
Costs of generating funds -
Investment management costs
**3**
Charitable activities
**3**
Governance costs
**3**
**Total Resources Expended**
**3**
**Net Incoming / (Outgoing) Resources Before Other**
**Recognised Gains**
**Gains / (Losses) On Investment Assets**
**Transfers**
**Net Movement In Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**|**Unrestricted**
**£**
11,310
911
282|**Endowment**
**£**
264,846
-
-|**2023**
**£**
276,156
911
282
277,349
32,532
107,090
12,660
152,282
125,067
82,633
-
207,700
8,184,067
8,391,767|**2022**
£
267,157
50
171|
|---|---|---|---|---|
||12,503|264,846||267,378|
||32,532
107,090
12,660|-
-
-||30,759
63,995
14,095|
||152,282|-||108,849|
||(139,779)
12,558
264,846|264,846
70,075
(264,846)||158,529
(430,091)
-|
||137,625
974,209|70,075
7,209,858||(271,562)
8,455,629|
||1,111,834|7,279,933||8,184,067|
All income and expenditure derives from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
9
## **DEEPING ST JAMES UNITED CHARITIES**
## **Statement of Financial Position**
## **as at 31st December 2023**
|**Notes**
**£**
**£**
**Fixed Assets**
Tangible fixed assets
**7**
81
Investments
**8**
7,631,945
7,632,026
**Current Assets**
Debtors
**9**
578,170
Cash at bank
**10**
199,537
777,707
**Creditors:**
Amounts falling due within one year
**11**
17,966
**Net Current Assets**
759,741
**Net assets**
8,391,767
**Funds Of The Charity**
Endowment Funds
Permanent Endowment
**12**
7,279,933
Unrestricted funds
**12**
1,111,834
8,391,767
**2023**|**£**
**£**
121
7,715,362
7,715,483
222,145
252,486
474,631
6,047
468,584
8,184,067
7,209,858
974,209
8,184,067
-
**2022**|**£**
**£**
121
7,715,362
7,715,483
222,145
252,486
474,631
6,047
468,584
8,184,067
7,209,858
974,209
8,184,067
-
**2022**|
|---|---|---|
|||7,715,483
468,584|
||474,631||
||6,047||
||||
|||8,184,067|
|||7,209,858
974,209|
|||8,184,067|
|||-|
The financial statements were approved and authorised for issue by the Board on 19 June 2024
Signed on behalf of the board of trustees
Mr G Thompson Chair
Mrs C Precey Vice Chair
The notes on Pages 11 to 22 form part of these financial statements.
10
**DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements**
**for the year ended 31st December 2023**
## **1. Summary of significant accounting policies**
## **General information and basis of preparation**
The address of the registered office is given in the charity information of these financial statements. The nature of the charity’s operations and principal activities are grant making and community support.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historic cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Unrestricted funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **Designated funds**
Comprise unrestricted funds available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **Restricted funds**
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **Endowment funds**
Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.
## **Income recognition**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.
No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.
Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
11
**DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements**
**for the year ended 31st December 2023**
Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends, interest and rent. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
Other income includes the conversion of endowment funds into income which arises when capital funds are released to an income fund from expendable endowments or when a charity has authority to adopt a total return approach to its permanent endowment fund. It also includes other income such as gains on disposals of tangible fixed assets.
## **Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
Charitable activities include the costs of the activities defined by the Charity's aims for the benefit of the persons cited in the charity objects. Costs directly attributable to a project have been allocated to that project. Other non-allocatable costs such as salaried employees and other fixed nature overheads have been reallocated on the basis of the proportion of fees receivable on receipt of the related grant monies in the year.
Costs of raising funds includes Investment Management Costs that assist the charity to generate income from Investments.
Governance costs include the costs which relate to the general running of the charity as opposed to the direct management function inherent in generating funds, service delivery and program or project work.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
## **Support costs allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs adminstrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on the basis consistent with use of resources.
The analysis of these costs is included in note 3.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Office equipment
20% Straight line
## **Investment properties**
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in 'net gains/(losses) on investments' in the SoFA.
## **Investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
12
**DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements**
**for the year ended 31st December 2023**
## **Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Impairment**
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
## **Employee benefits**
When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
## **Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **Provisions**
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
13
## **DEEPING ST JAMES UNITED CHARITIES**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2023**
## **2. Income From Investments**
|**Income From Investments**
Investment Properties
Other Investments
- COIF deposit account (Endowment)
- COIF deposit account (Unrestricted)
- Virgin charity deposit account (Unrestricted)
- Other interest and dividends (Unrestricted)
Investments listed on a recognised stock exchange,
held in common investment funds or other collective
investment schemes|**2023**
**£**
68,042
189,002
7,802
10,225
93
992
**276,156**|2022
£
67,379
198,428
-
1,032
214
104|
|---|---|---|
|||**267,157**|
Income from investment was £276,156 (2022 - £267,157) of which £276,156 (2022 - £267,157) was attributable to endowments, £nil (2022 - £nil) was attributable to restricted and £nil (2022 - £nil) was attributable to unrestricted funds. Investment income is then transferred from the Endowment Fund to the Unrestricted Fund as seen on the Statement of Financial Activities.
|**Income From Donations and Legacies**
Donations|**2023**
**£**
911
**911**|2022
£
50|
|---|---|---|
|||**50**|
Income from donations and legacies was £911 (2022 - £50) of which £nil (2022 - £nil) was attributable to endowments, £nil (2022 - £nil) was attributable to restricted and £911 (2022 - £50) was attributable to unrestricted funds.
|**Income From Government Grants**
Employment Allowance|**2023**
**£**
282
**282**|2022
£
171|
|---|---|---|
|||**171**|
Income from Government grants was £282 (2022 - £171) of which £nil (2022 - £nil) was attributable to endowments, £nil (2022 - £nil) was attributable to restricted and £282 (2022 - £171) was attributable to unrestricted funds.
## **3. Resources Expended**
|**Property**
Rates and council tax
Insurance
Repairs
Electricity and gas
Letting agency fees|**Investment**
**Management**
**Costs**
**£**
84
4,701
8,440
376
5,438
19,039|**Charitable**
**Activities**
**£**
84
4,701
8,440
374
-
13,599|**Governance**
**Costs**
**£**
-
-
-
-
-
-|**2023**
**£**
168
9,402
16,880
750
5,438
32,638|2022
£
120
7,208
24,066
854
5,220|
|---|---|---|---|---|---|
||||||37,468|
14
## **DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements**
## **for the year ended 31st December 2023**
|**Administration**
Clerk's salary
Caretaker's salary and casual
wages
Legal and professional fees
Bookkeeping and Accountant's
fees
Miscellaneous expenses
Depreciation - office equipment
**Charitable Activities**
Relief in Need
Relief in Sickness
Public Purposes
Educational Foundation
St Thomas' Day Charity|5,668
980
5,259
-
1,566
20
13,493
-
-
-
-
-
-
**32,532**|5,668
980
-
-
1,566
20
8,234
51,849
1,640
(319)
28,167
3,920
85,257
**107,090**|-
-
-
12,660
-
-
12,660
-
-
-
-
-
-
**12,660**|11,336
1,960
5,259
12,660
3,132
40
34,387
51,849
1,640
(319)
28,167
3,920
85,257
**152,282**|10,392
1,760
1,805
14,095
3,026
42|
|---|---|---|---|---|---|
||||||31,120|
||||||17,857
500
8,469
9,445
3,990|
||||||40,261|
|||||||
||||||**108,849**|
£nil (2021 - £nil) of the above costs were attributable to endowment funds. £nil (2021 - £nil) of the above costs were attributable to restricted funds. £505,994 (2021 - £108,849) of the above costs were attributable to unrestricted funds.
## **Net Income for the year**
|This is stated after charging.
Depreciation
Gains / (Losses) On Investment Assets|**2023**
**£**
40
82,633
**82,673**|2022
£
42
(430,091)|
|---|---|---|
|||**(430,049)**|
## **4. Trustees' and key management personnel remuneration and expenses**
The trustees neither received nor waived any remuneration during the year (2022: £nil).
The total amount of employee benefits received by key management personnel is £nil (2022: £nil).
The reimbursement of trustees expenses was as follows:
|Charitable Purposes
Miscellaneous Expenses|**2023**
**Number**
**2**
**1**|2022
Number
2
1|**2023**
**£**
**746**
**805**|2022
£
4,590
278|
|---|---|---|---|---|
Included in the above are £nil (2022: £nil) which have been paid directly to third parties.
No (2022 - none) trustees are accruing pension arrangements.
15
## **DEEPING ST JAMES UNITED CHARITIES**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2023**
|**Auditor's/Independent Examiner's Remuneration**
Fees payable to the charity's auditor for the audit of the charity's
annual accounts
Fees payable to the charity's auditor for other services:
Year end accounts preparation
Advice work
Bookkeeping
Total fees|**2023**
**£**
**3,775**
2,945
-
5,940
8,885
**12,660**|2022
£
**3,775**|
|---|---|---|
|||2,880
1,380
6,060|
|||10,320
**14,095**|
## **5. Auditor's/Independent Examiner's Remuneration**
## **6. Staff Costs and Employee Benefits**
The average monthly number of employees and full time equivalent (FTE) during the year was as follows:
|Raising funds
Charitable activities
Governance
Total staff costs and employee benefit's was as follows:
Wages and salaries|**2023**
**Number**
1
1
-
2|**2023**
**FTE**
1
1
-
2|2022
Number
1
1
-
2
**2023**
**Total**
**£**
13,296
13,296|2022
FTE
1
1
-|
|---|---|---|---|---|
|||||2|
|||||2022
Total
£
12,152|
|||||12,152|
No employees received total employee benefits (excluding employer pension costs) of more than £60,000.
## **7. Tangible Fixed Assets**
|**Cost**
At 1 January 2023
Additions
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net Book Value**
**At 31 December 2023**
At 31 December 2022|**2023**
2022
**£**
£
1,148
1,148
-
-
1,148
1,148
1,027
985
40
42
1,067
1,027
**81**
**121**
121
163
**Office Equipment**|**2023**
2022
**£**
£
1,148
1,148
-
-
1,148
1,148
1,027
985
40
42
1,067
1,027
**81**
**121**
121
163
**Office Equipment**|
|---|---|---|
|||1,148
985
42|
|||1,027
**121**|
|||163|
16
## **DEEPING ST JAMES UNITED CHARITIES**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2023**
|**8.**
**Investment Assets**
**8.1 Fixed Asset Investments**
Market value at beginning of the year
Additions / disposals
(Deficit) / Surplus on revaluation
Market value at end of year
**8.2 Analysis Of Investments**
**Market Value At Year End**
Investment properties
Other Investments
- COIF deposit account
- Virgin charity deposit account (Closed March 2023)
Investments which are over 5% of the portfolio by market value at 31 December 2023 are;
COIF Charities Property Fund Income Units £2,140,927 (2022: £2,283,451)
COIF Charities Ethical Investment Fund Income Units £2,259,441 (2022: £2,057,368)
**9.**
**Debtors**
Prepayments
Accrued Income
**10. Cash At Bank**
Current Account
Business Premium Account
Business Premium ME Account
**11. Creditors - Amounts Falling Due Within One Year**
Trade Creditors
Retention Payable
Accruals and Deferred Income
Investments listed on a recognised stock exchange,
held in common investment funds or other collective
investment schemes|**2023**
**£**
7,549,305
(613,006)
82,633
7,018,932
**2023**
**£**
2,605,000
4,413,932
7,018,932
613,013
-
7,631,945
**2023**
**£**
530,854
47,316
578,170
**2023**
**£**
41,395
150,877
7,265
199,537
**2023**
**£**
733
13,458
3,775
17,966|2022
£
7,979,396
-
(430,091)|
|---|---|---|
|||7,549,305|
|||2022
£
2,605,000
4,944,305|
|||7,549,305
84,447
81,610|
|||7,715,362|
|||2022
£
172,573
49,572|
|||222,145|
|||2022
£
143,187
99,966
9,333|
|||252,486|
|||2022
£
2,272
-
3,775|
|||6,047|
17
## **DEEPING ST JAMES UNITED CHARITIES**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2023**
## **12. Analysis Of Charitable Funds**
|**Analysis Of Charitable Funds**||||
|---|---|---|---|
|Balance at 1 January 2023
Income
Expenditure
Gain / (Loss) on Investments
Transfers
Balance at 31 December 2023|**Endowment**
**Funds**
**2023**
**£**
7,209,858
264,846
-
70,075
(264,846)
7,279,933|**Unrestricted**
**Funds**
**2023**
**£**
974,209
12,503
(152,282)
12,558
264,846
1,111,834|**Total**
**2023**
**£**
8,184,067
277,349
(152,282)
82,633
-|
||||8,391,767|
Of the unrestricted reserves £534,565 have been designated for the redevelopment of the Cross School Site.
## **13. Analysis Of Net Assets Between Funds**
|Tangible fixed assets
Fixed asset investments
Investment Properties
Listed Investments
Other Investments
Current assets
Creditors: amounts falling due
within one year
Tangible fixed assets
Fixed asset investments
Current assets
Creditors: amounts falling due
within one year|**Relief in Need**
**Public Purpose**
**Relief in**
**Fund**
**Fund**
**Sickness Fund**
**£**
**£**
**£**
-
-
-
1,117,500
1,117,500
-
2,213,681
2,200,251
-
-
-
261,001
-
-
-
-
-
-
3,331,181
3,317,751
261,001
**Endowment**
**Fund**
**2023**
**£**
-
7,279,933
-
-
7,279,933|**Education**
**Fund**
**£**
-
370,000
-
-
-
-
370,000
**Unrestricted**
**Fund**
**2023**
**£**
81
352,012
777,707
(17,966)
1,111,834|**Endowment**
**Fund**
**£**
-
-
2,605,000
4,413,932
261,001
-
-|
|---|---|---|---|
||||7,279,933|
||||**2023**
**£**
81
7,631,945
777,707
(17,966)
**Total**|
||||8,391,767|
The Deeping St James United Charities was formed by the Scheme of the Charity Commissioners dated 14 July 1971 by combining the following charities:
The United Charities (constitued by the Scheme of 11 December 1908):
1. The charity of Elizabeth Allam
2. The charity of Thomas Bunning
3. The charity of Joanna Royal (otherwise Boyal)
4. The charity of Robert Sharpe
5. The charity of Samual Sharpe
6. The charity of William Streton
7. The charity of William Swan
8. The charity of Robert Tyghe (exclusive of the charity called the Tyghe Prizes and the charity called the Tyghe Schools)
9. The charity of Susannah Brewton
10. The charity of John Perkins
11. Tyghe Prizes
12. Tyghe Schools
18
**DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements**
**for the year ended 31st December 2023**
## **14. Capital Commitments**
Financial commitments have been made to fund the development of the Cross School site. Planning permission has been obtained and costs in the contract to complete the works amount to £534,565 (2022: £767,260).
19
**DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements for the year ended 31st December 2023**
_Pages 21 to 22 also form part of these financial statements and show the comparative 2022 figures._
20
**DEEPING ST JAMES UNITED CHARITIES Notes to the Financial Statements for the year ended 31st December 2023**
## **15. Fund Comparatives**
## _**Statement of Financial Activities**_
|**_Incoming Resources_**
_Investment income_
_Donations_
_Government grants_
**_Total Incoming Resources_**
**_Resources Expended_**
_Costs of generating funds -_
_Investment management costs_
_Charitable activities_
_Governance costs_
**_Total Resources Expended_**
**_Net Incoming / (Outgoing) Resources Before Other_**
**_Recognised Gains_**
**_(Losses) / Gains On Investment Assets_**
**_Transfers_**
**_Net Movement In Funds_**
**_Total Funds Brought Forward_**
**_Total Funds Carried Forward_**|**_Unrestricted_**
**_£_**
_-_
_-_
_171_
_171_
_30,759_
_63,995_
_14,095_
_108,849_
_(108,678)_
_(48,153)_
_267,208_
_110,377_
_863,832_
_974,209_|**_Endowment_**
**_£_**
_267,157_
_50_
_-_
_267,207_
_-_
_-_
_-_
_-_
_267,207_
_(381,938)_
_(267,208)_
_(381,939)_
_7,591,797_
_7,209,858_|**_2022_**
**_£_**
_267,157_
_50_
_171_|
|---|---|---|---|
||||_267,378_|
||||_30,759_
_63,995_
_14,095_|
||||_108,849_|
||||_158,529_
_(430,091)_
_-_|
||||_(271,562)_
_8,455,629_|
||||_8,184,067_|
21
## **DEEPING ST JAMES UNITED CHARITIES**
## **Notes to the Financial Statements**
## **for the year ended 31st December 2023**
## **16.** _**Fund Comparatives Continued**_
|**_Analysis Of Charitable Funds_**
_Balance at 1 January 2022 (restated)_
_Income_
_Expenditure_
_Gain / (Loss) on Investments_
_Transfers_
_Balance at 31 December 2022_
**_Analysis Of Net Assets Between Funds_**
_Tangible fixed assets_
_Fixed asset investments_
_Current assets_
_Creditors: amounts falling due within one year_|**_Unrestricted_**
**_Funds_**
**_2022_**
**_£_**
_863,832_
_171_
_(108,849)_
_(48,153)_
_267,208_
_974,209_
**_Unrestricted_**
**_Fund_**
**_2022_**
**_£_**
_-_
_7,209,858_
_-_
_-_
_7,209,858_|**_Endowment_**
**_Funds_**
**_2022_**
**_£_**
_7,591,797_
_267,207_
_-_
_(381,938)_
_(267,208)_
_7,209,858_
**_Endowment_**
**_Fund_**
**_2022_**
**_£_**
_121_
_505,504_
_474,631_
_(6,047)_
_974,209_|**_Total_**
**_2022_**
**_£_**
_8,455,629_
_267,378_
_(108,849)_
_(430,091)_
_-_|
|---|---|---|---|
||||_8,184,067_|
||||**_2022_**
**_£_**
_121_
_7,715,362_
_474,631_
_(6,047)_
**_Total_**|
||||_8,184,067_|
22