ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2022
THE PUBLIC PURPOSES CHARITY
CHARITY REGISTRATION NUMBER 266718
Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
THE PUBLIC PURPOSES CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022
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Page
Legal and Administrative Information 3
Trustees' Report 4 to 6
Independent Examiner's Report on the Accounts 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 to 17
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THE PUBLIC PURPOSES CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
266718
WORKING NAMES STANFORD IN THE VALE PPC (Working name)
START OF FINANCIAL YEAR 01 January 2022 END OF FINANCIAL YEAR 31 December 2022
TRUSTEES AT 31 DECEMBER 2022
Dr Roger Griffin - Chairman Ms Caryl Oliver - Clerk Correspondent Mr Felipe Vizoso - Treasurer Mrs Sally Barnes Mrs Julia Grinsted Mr A Gunby Mr Andrew Higgins (Resigned 19 October 2022) Mr Mike Macfarlane Mr Tim Mills (Resigned 17 November 2022) Mr Geoffrey Somerset MR M Dixon
The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.
GOVERNING INSTRUMENT
REGISTRATION DATE
Scheme of 21St August 1997 as amended 9 September 1999 and 26 January 2006. As amended On 16 Apr 2020.
01 February 1974: Standard registration
OBJECTS
The general benefit of the inhabitants of the parish of Standford In The Vale in such ways as the trustee thinks fit.
CORRESPONDENCE ADDRESS
PRIMARY BANKERS
INDEPENDENT EXAMINER
22 Bow Road Stanford in the Vale FARINGDON SN7 8JB Lloyds Bank PLC Blackheath London 15 Blackheath Village London SE3 9LH Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF
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THE PUBLIC PURPOSES CHARITY
TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2022
The trustees present their report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared on a receipts and payments basis. The accounts comply with the Stanford in the Vale Public Purposes Charity Scheme and the Charities Act 2011.
Mission Statement
Striving to improve and strengthen the community spirit within Stanford-in-the-Vale by providing a source of finance for projects that will benefit the parish.
The Public Purposes Charity, in the Parish of Stanford in the Vale, in the County of Oxford, is regulated by a Scheme of the Charity Commission dated 21[st] August 1997 as amended in 9[th] September 1999 and 26[th] January 2006 and March 2020.
PPC Trust Scheme Statement
The Trustees shall apply the income of the Charity for the general benefit of the inhabitants of the Parish of Stanford in the Vale.
Throughout the year, the disruption caused by Covid 19 continued to abate although there have been long-term changes to peoples’ attitude to meeting in groups.
PPC is pleased to take a pro-active role and to make a tangible contribution to the fabric of Stanford in the Vale on behalf of the residents and friends of the Village.
Trustee engagement
There were three ordinary Trustee Meetings during the year, one of which were conducted electronically via Zoom, the remainder were “face to face” meetings.
Two trustees resigned at the year-end. No new trustees joined during the year.
Trustees are not paid for their service but reasonable out of pocket expenses are covered when representing PPC.
Grant Activity
PPC has pro-actively encouraged applications for grants from a wide range of organisations within the Village. This has successfully been reflected in a selection of new applicants for small but much needed assistance. The Trustees have been mindful of the need to expend the charity’s funds for the public benefit of the inhabitants of Stanford in the Vale.
During the period grants have been paid to the following organisations:
| PCC Newsletter | Delivered free to all addresses in the village | £2,234 | |
|---|---|---|---|
| SITV Pre-School | Covid Support | £2,549 | |
| Primary School Kit | Play equipment for the Primary School | £5,224 | |
| Traffic Speed Signs | Signs measuring and displaying vehicle speeds | £2,264 | |
| Village Celebrations Omni | Omnibus grant supporting various Jubilee celebrations | £5,560 | |
| New Flagpole for Church | To enable appropriate flags to be flown | £4,440 | |
| Church Clock Motors | To re-activate the church clock | £1,050 | |
| Defibrillator Horse & Jockey | To complete a set covering the village | £1,746 | |
| Art Group Display Boards | Support to local club | £1,400 | |
| Pickle Ball Trg Machine | Support to village club | £2,000 | |
| Football Club Floodlights | Support to village club | £1,200 | |
| Pre-School Electrics + Surface | Support to village club Pre-school | £480 | |
| TOTAL: | £30,146 |
The Allotments
PPC continues to provide Public Liability Insurance to cover the Allotment users and servicing of the Allotment areas. Trustees have noted the ongoing interest in the use of the allotments and there continues to be a waiting list of villagers who would like to take on an allotment. The waiting list was 14 at the end of 2022, with an average 15 month waiting time.
4
THE PUBLIC PURPOSES CHARITY
TRUSTEES' REPORT (Continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
Financial Review
During the year the market value of the charity’s investments reduced by £120,814 and income from investment dividends was reduced by £25,000 compared to the previous year. Notwithstanding, PPC maintained the level of its grant making through judicious use of its reserves.
Throughout the year the trustees adopted a pro-active approach to deliver more support more broadly in the Parish.
The underlying investments which generate the dividend income used by PPC are managed on the charity’s behalf by CCLA Investment Management Limited. Throughout the year, the performance of the investments has generally exceeded market indices.
Allotment and advertising revenue remained consistent with 2021.
Reserves
While the charity is reliant upon dividend income; it’s policy on reserves requires that it should maintain sufficient funds in reserve to ensure its continued activity for a minimum of 12 months, should dividend income reduce. PPC’s financial reserve is held in a deposit account administered by the CCLA.
Looking Ahead
The PPC Website www.ppcstanford.org continues to be updated with new information about PPC and the projects it supports as well as Grant Application Guidelines and Forms, Allotment Applications and Rules and contact details for Trustees. Additionally, grant recipients’ photos of their projects are also included on the site.
As a part of increasing flexibility, PPC introduced an omnibus grant concept in 2019. This policy has not always operated in the planned manner and PPC has reviewed the expected processes with the appropriate grant recipients.
In keeping with Privacy regulations, all Trustees have PPC email addresses so that their private email addresses are not exposed for
Administration and Governance
Trustees
There should not be less than 7 Trustees, or more than 12. There are currently 9 Trustees and the Charity is pro-actively seeking additional Members as some Trustees have indicated an imminent desire to retire.
Trustees as at 31 December, 2022:
Dr Roger Griffin – Chairman Ms Caryl Oliver – Clerk Correspondent Mr. Felipe Vizoso - Treasurer Mrs Sally Barnes Mrs Julia Grinsted Mr. Tony Gunby Mr Mike Macfarlane Mr Geoffrey Somerset Mr Michael Dixon
Hon. Clerk/Correspondent
Ms Caryl Oliver, 22 Bow Road, Stanford in the Vale, SN7 8JB
Investment Adviser
CCLA Investment Management Ltd.
Solicitors
Field, Seymour Parkes, The Old Coroner's Court, No.1 London Street, PO Box 174, Reading, Berkshire RG1 4QW
5
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THE PUBLIC PURPOSES CHARITY
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
Report to the trustees/ members of The Public Purposes Charity on the accounts for the year ended 31st December 2022.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
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to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
to keep accounting records in accordance with section 130 of the Charities Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
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have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 12th October 2023
7
THE PUBLIC PURPOSES CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022
| Notes INCOMING RESOURCES Donations & Legacies 3a Investment Income 3b TOTAL INCOMING RESOURCES Costs of Charitable Activities 4a Costs of Generating Funds 4b NET INCOMING/(OUTGOING) RESOURCES Balances Brought Forward BALANCES CARRIED FORWARD RESOURCES EXPENDED TOTAL RESOURCES EXPENDED TRANSFERS BETWEEN FUNDS NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ 25,000 - - 25,000 180,491 2,669 - - 2,669 765 |
|---|---|
| 27,669 - - 27,669 181,256 |
|
| 34,397 - - 34,397 29,678 52,806 - 68,008 120,814 21,618 |
|
| 87,203 - 68,008 155,211 51,296 |
|
| (59,534) - (68,008) (127,542) 129,960 - - - - - |
|
| (59,534) - (68,008) (127,542) 129,960 |
|
| 570,109 - 584,855 1,154,964 1,025,004 |
|
| 510,575 - 516,847 1,027,422 1,154,964 |
All of the Charity's operations are classed as continuing operations.
The notes form part of these financial statements, found on pages:10 to 17
8
THE PUBLIC PURPOSES CHARITY
BALANCE SHEET AS AT 31 DECEMBER 2022
| Fixe A-t Tangibl Assets Invetmet A es Curnt At Debtors & Prepaymets Investmets |
Note 2 8 11 9 |
Unretricted Fund f 1,001 412,819 41£20 77594 |
Retricte Fund f |
Endowet Fund f 516,847 51&M7 |
Totl 31-Dc22 E 1,001 929,666 930,667 77,594 |
Total 31-D-21 E 1,001 1,050,480 !051�1 76185 |
|---|---|---|---|---|---|---|
| Cash at bank and in hand Tol Curnt Aut Crditr due within one yer NE CURRENT ASSES TOTAL ASSES le current libilitie Crdito: due In more than one yer NE ASSES |
10 12 13 |
19,851 97,45 690 96,755 510,575 510.575 |
516,87 516.7 |
19,851 97�5 690 96,755 1,027A22 1~~1~~021422 |
27,958 104,143 660 103,483 1154,96 1~~,~~**1.96 ** |
|
| FUNDS | ||||||
| General Funds Retricted Funds Endowent Funds |
5 7 |
510,575 | 516,847 | 510,575 516,847 |
570,109 584,855 |
|
| TOTAL FUNDS | 510,575 | 516M7 | 1,027d22 | !154,964 |
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9
THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand.
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
10
THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
2. TANGIBLE FIXED ASSETS
| Additions At 31 December 2022 Accumulated Depreciation At 1 January 2022 Charge for the Year Cost At 1 January 2022 At 31 December 2022 Net Book Value At 31 December 2022 At 31 December 2021 |
Land £ 1,001 - 1,001 - - - 1,001 1,001 |
2022 £ 1,001 - |
|---|---|---|
| 1,001 | ||
| - - |
||
| - | ||
| 1,001 | ||
| 1,001 |
Included in cost or valuation of land and buidlings is freehold land of £1,001 (2020 - £1001) which is not depreciated.
This page does not form part of the statutory financial statements
11
THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
3. INCOMING RESOURCES
| Note TOTAL INCOMING RESOURCES 4. EXPENDITURE ON CHARITABLE ACTIVITIES Note b) Cost of Generating funds Investment portfolio income Investment revaluation gains b) Incoming from Charitable Advertising and allotments Revaluation gain on Investments Miscellaneous income a) Charitable Activities Allotment expenses Governance costs:- Independent Examiner Fee Grants to Institutions Insurance Meeting expenses Postage and stationery Sundries Investment revaluation losses a) Investment Income |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ 25,000 - - 25,000 50,000 - - - - 130,491 |
|---|---|
| 25,000 - - 25,000 180,491 |
|
| 1,186 - - 1,186 765 1,409 - - 1,409 - 74 - - 74 - |
|
| 2,669 - - 2,669 765 |
|
| Unrestricted Restricted Endowment Total Total Funds Funds Funds 2022 2021 £ £ £ £ 2,246 - - 2,246 4,606 30,146 - - 30,146 21,260 653 - - 653 664 162 - - 162 571 469 - - 469 - - - - - 200 690 - - 690 1,740 |
|
| 34,397 - - 34,397 29,678 |
|
| 52,806 - 68,008 120,814 21,618 |
|
| 52,806 - 68,008 120,814 21,618 |
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
5. RESTRICTED FUNDS
The Charity held no Restricted Funds during this or the previous financial period.
6. DESIGNATED FUNDS
The Charity held no Designated Funds during this or the previous financial period.
7. ENDOWMENT FUNDS
CURRENT FINANCIAL YEAR
| CURRENT FINANCIAL YEAR | |
|---|---|
| PREVIOUS FINANCIAL YEAR Permanent Endowment Fund Permanent Endowment Fund |
Balance Unrealised 01-Jan-22 Income Expenditure Gain/Loss Transfer 31-Dec-22 £ £ £ £ £ £ 584,855 - (68,008) - - 516,847 |
| 584,855 - (68,008) - - 516,847 |
|
| Balance Unrealised 01-Jan-21 Income Expenditure Gain/Loss Transfer 31-Dec-21 £ £ £ £ £ 512,198 72,657 - - - 584,855 |
|
| 512,198 72,657 - - - 584,855 |
CCLA account No 890340001T is titled “Permanent Endowment Account” and holds the PPC’s endowment funds which cannot be spent without the authority of the Charity Commission.
This page does not form part of the statutory financial statements
13
THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
8. INVESTMENTS
| Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 01-Jan-22 465,625 - 584,855 1,050,480 919,989 - - - - - (52,806) - (68,008) (120,814) 130,491 31-Dec-22 412,819 - 516,847 929,666 1,050,480 There were no investment assets outside the UK. Investments (neither listed nor unlisted) were as follows:- 31-Dec-22 31-Dec-21 £ £ Investments 929,666 1,050,480 Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 77,594 - - 77,594 76,185 77,594 - - 77,594 76,185 Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 19,851 - - 19,851 27,958 19,851 - - 19,851 27,958 9. CURRENT ASSETS INVESTMENTS COIF Charities Deposit Fund Market value as at Market value as at Additions Investment Assets - Revaluation Gain/(Loss) 10. CASH AT BANK AND IN HAND Current A/c |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 465,625 - 584,855 1,050,480 919,989 - - - - - (52,806) - (68,008) (120,814) 130,491 |
Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 465,625 - 584,855 1,050,480 919,989 - - - - - (52,806) - (68,008) (120,814) 130,491 |
|---|---|---|
| 412,819 - 516,847 929,666 1,050,480 |
||
| 31-Dec-22 31-Dec-21 £ £ 929,666 1,050,480 |
||
| Total Total 31-Dec-22 31-Dec-21 £ £ 77,594 76,185 |
||
| 77,594 - - |
77,594 76,185 |
|
| Unrestricted Restricted Endowment Funds Funds Funds £ £ 19,851 - - |
Total Total 31-Dec-22 31-Dec-21 £ £ 19,851 27,958 |
|
| 19,851 - - |
19,851 27,958 |
11. DEBTORS AND PREPAYMENTS
The Charity held no Debtors during this or the previous financial period.
12. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR
| Independent Examiner's Fee | Unrestricted Restricted Endowment Total Total Funds Funds Funds 31-Dec-22 31-Dec-21 £ £ £ £ 690 - - 690 660 |
|---|---|
| 690 - - 690 660 |
13. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
The Charity held no long term liabilities during this or the previous financial period.
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
14. MOVEMENT IN FUNDS
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
1 Jan 22 Net movement in funds 31 Dec 22 £ £ £ 570,109 (59,534) 510,575 584,855 (68,008) 516,847 |
|---|---|
| 1,154,964 (127,542) 1,027,422 |
Net movement in funds, included in the above are as follows:
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 27,669 (87,203) (59,534) - (68,008) (68,008) |
|---|---|
| 27,669 (155,211) (127,542) |
Comparatives for movement in funds
| Endowment funds Permanent Endowment Funds TOTAL FUNDS Unrestricted Funds Unrestricted Funds |
1 Jan 22 Net movement in funds 31 Dec 22 £ £ £ 512,806 57,303 570,109 512,198 72,657 584,855 |
|---|---|
| 1,025,004 129,960 1,154,964 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 108,599 (51,296) 57,303 72,657 - 72,657 |
|---|---|
| 181,256 (51,296) 129,960 |
This page does not form part of the statutory financial statements
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THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
14. MOVEMENT IN FUNDS (Continued)
A current year 12 months and prior year 12 months combined position is as follows:
| A current year 12 months and prior | year 12 months combined position is as follows: |
|---|---|
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
01 Jan 22 Net movement in funds 31 Dec 22 £ £ £ 512,806 (2,231) 510,575 512,198 4,649 516,847 |
| 1,025,004 2,418 1,027,422 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted Funds Unrestricted Funds Endowment funds Permanent Endowment Funds TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 136,268 (138,499) (2,231) 72,657 (68,008) 4,649 |
|---|---|
| 208,925 (206,507) 2,418 |
15. STAFF COSTS AND NUMBERS
The Charity employed no members of staff during this or the previous financial period.
16. TRUSTEES' REMUNERATION AND BENEFITS
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
(2021 - None)
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2022.
(2021 - None)
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2022.
18. GRANT MAKING ACTIVITIES
During the period grants have been paid to the following organisations:
| £ | ||
|---|---|---|
| PCC Newsletter | 2,234 | |
| SITV Pre-School | 2,549 | |
| Primary School Kit | 5,224 | |
| Traffic Speed Signs | 2,264 | |
| Village Celebrations Omni | 5,560 | |
| New Flagpole For Church | 4,440 | |
| Church Clock Motors | 1,050 | |
| Defirilator Horse & Jockey | 1,746 | |
| Art Group Display Boards | 1,400 | |
| Pickle Ball Trg Machine | 2,000 | |
| Football Club Floodlights | 1,200 | |
| Pre-Sch Electrics +Surface | 480 |
30,146
16
THE PUBLIC PURPOSES CHARITY
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022
19. RISK ASSESSMENT
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
20. RESERVES POLICY
The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
21. PUBLIC BENEFIT
The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees' report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.
This page does not form part of the statutory financial statements
17