2023-03-31-accounts - Fassnidge Memorial Trust

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Trustees		Mr JAttias
		Mr A Buries (Resigned 28 June 2023)
		Mrs M Lally
		Mrs JMarren-King
		Mrs S O' Brien
		Mr A Bennett
		Mr P Ryerson (Resigned 28 June 2023)
		Mrs R Chamdal
		Mr KMartin
		Mr C Liberty (Appointed		17May 2023)
Charity	no.	303078
Charity	correspondent	Frazine Johnson Solicitors
		Old Bank Chambers
		32 Station Parade
		Denham
		Uxbridge
		UB95ET
Auditors		Ward Williams
		Belgrave House
		39-43 Monument	Hill
		Weybridge
		Surrey KT13 8RN
Bankers		Lloyds Bank pic
		21-22 High Street
		Uxbridge
		Middlesex
		UB8 1JD

		Page
Trustees'	Report	1 —7
Auditors'	Report	8 —11
Statement	ofFinancial Activities	12
Balance Sheet		13
Statement	ofCash Flows	14
Notes to	the Accounts	15-23

ncluding the unrealised lo	ss on Fund Investments	the Charity incurred a s	mall loss ofE2,361
(Deficit)/Surplus Expenditure on Charitable Income	Objectives"	(f144,104) 667,200 6155,330	Down f88,760 Down f5,386 Up f25,574
Running Costs Unrealised gain/(loss) on Balance Sheet Assets	investments	f111,964 f141,743 62,654,616	Down 672,028 Down f201,986 Down f146,985
Balance Sheet Net Assets		E2,632,956	Down f144,106

					Expenditure	Expenditure	Expenditure
					Yearto	Year	to
					31/03/23	31/03/22
					f	f
Assistance		Provided to individuals in need for	white goods,		19,074	37,094
Grants		carpets &furniture.
		Applied for by local organisations	on behalf of
		individuals. Grants are also available to local
		organisations meeting the objectives of the
		Charity.
		Applications are assessed against	the Charity's
		aims &available bud et.
Hampers		Supplied 750 Christmas Hampers	to local		24,181		22,151
		organisations for distribution to the elderly and
		need
Events		Held Platinum Jubilee Celebrations	forthe		2,472		2,106
		elderly including catering. The events were
		designed to help those who may feel isolated		to
		mix with others to celebrate.
Total Ex enditure					45,727	61,351
Hall Hire		Allow local organisations to hire Community			613.5 hours	321 hours
		Halls at no or reduced cost where for the direct benefit ofthe elderl	the activity	is	Notional cost f21,473	Notional cost f11,235
Total lncludin	Notional	Ex enditure			67,200	72,586

Assets &Income
Charitable activities and	the Charity's		running		costs are funded			by income generated		from
the Charity's Permanent	Endowment		and investments.			The	Trustees have chosen to		invest
surplus funds in investment Charity. Investments have		trusts with a view decreased in value			to protecting the long-term future ofthe during the year by f141,743 as a result					ofstock
market volatility which the		Trustees are willing to accept in					the	short term.
								BookValue	BookValue
								31/03/23	31/03/22
								f		f
Permanent Endowment
The Cedars Freehold Property
Leased to Trinity Homeless Projects								f149,140		f149,140
Darren House
Leased to a local corn an
Cazenove Charity Multi-Asset		Fund						f1,049,227		f1,141,749
Total Permanent Endowment								E1,198,367	E1,290,889
	I
rii
Kate Fassnidge Community	Hall at 2 Harefield			Road Uxbridge				f89,909		f92,219
Available to hire for the local	community
76 High Street Northwood 8 Flats 8&Community				Hall				f186,813		f188,453
Available to hire for the local	community
Cazenove Charities Multi-Asset Fund including				Deposit				f742,435		f723,918
Various Investment Funds including Deposit Bank Deposit Total Other Investments								f283,767 f140,165 E1,443,089		f1,000 f487,824 f1,493,414
Other Assets
Office Equipment Cash at Bank								f2,788 f4,346		f663 f7,701
Debtors								f6,026		f8,934
Total Assets								E2,654,616		E2,801,601

ncome for yea	r has increased by f25,574:
		Yearto	Year	to
		31/03/23	31/03/22
		f	f
Hire ofCommuni	Halls	11,264		11,252
Interest on Bank	De osits	461		59
Pro e Rental		64,156		50,800
Income from Investments		75,947		63,930
Reimbursement	ofInsurance	1,872		3,715
Donations		1,630
Total Income		155,330	129,756

				Year to	Year	to
				31/03/23	31/03/22
				f	f
Em lo ee corn		ensation	and benefits	44,921		38,339
Pro e	maintenance			1,177		76,049
Le al and	Estate services			17,597		22,858
Office costs				1,229		7,552
Audit fee				6,720		6,120
Insurance				4,151		5,360
Communi	Hall	runnin	costs	21,211		19,448
Fixed asset de		reciation		5,721		5,958
Other ex	enses			9,237		2,308
Total Ex	enditure			111,964	183,992

			Unrestricted	Resti1cted		Endowment	Total	Total
			Funds	Funds		Funds	2023	2022
Income and endowments	from:						f.
Incoming resources from generated		funds:
Donations and legacies			1,630				1,630
Charitable Activities			13,136				13,136	14,967
Investments			140,564				140,564	114,789
Total incoming resources		Note 2	155,330				155,330	129,756
Expenditure on:
Charitable Activities			157,691				157,691	245,343
Total expenditure		Note 3	157,691				157691	245 343
Net (loss)/gain on investments		Note 4	(49,222)			(92,521)	(141,743)	60,243
Net (expenditure) / Income			(51,583)		-	(92,521)	(144,104)	(55,344)
Transfers between funds
Net movement in funds			(51,583)		-	(92,521)	(144,104)	(55,344)
Reconciliation ofFunds
Total funds brought forward At 1April 2022			1,471,849			1,295,211	2,767,060	2,822,404
Total funds brought forward At 31March 2023		Note 11	1,420,266			1,202,690	2,622,956	2,767,060

		Notes		2023	2022
FIXEDASSETS
Tangible assets				428,650	430,475
CURRENT ASSETS
Investments		7	2,215,594		2,354,491
Debtors		8	6,026		8,934
Cash at bank and in hand			4,346		7,701
			2,225,966		2,371,126
CREDITORS: Amounts	falling due within
one year			(21,660)		(24,541)
NKT CURRENT ASSETS				2,204,306	2,346,585
NET ASSETS				2c632e956	2 777060
REPRESENTED BY:
Capital bequest		6,11		10,000	10,000
Unrestricted funds Endowment funds		11 11	1,420,266 1,202,690		1,471,849 1,295,211
				2,622,956	2,767,060
TOTALFUNDS				2,632,956	2,777,060

			2023	2022
Cash flow from operating activities (see reconciliation
below):
Net cash flow from operating	activities		(214,765)	(112,537)
Cash flow from investing activities
Payments to acquire tangible fixed assets			(3,895)
Interest received			461	59
Re-invested income from investments			75,947	63,930
Net cash flow from investing	activities		72,513	63,989
Net Decrease in cash and cash equivalents			(142,252)	(48,548)
Cash and cash equivalents at I	April 2022		2,362,192	2,410,740
Cash and cash equivalents at 31 March 2023			2,219,940	2,362,192
Reconciliation of net income	/ (expenditure)	to net cash
flow from operating activities
Net expenditure for the year Depreciation oftangible fixed	assets		(144,104) 5,720	(55,344) 5,958
Interest receivable			(461)	(59)
Income from Investment funds			(75,947)	(63,930)
Decrease/(increase) in debtors			2,908	(1,585)
(Decrease)/increase in creditors			(2,881)	2,423
Net cash flow from operating	activities		(214,765)	(112,537)

				2023	2022
Donations	and	legacies
Donations	from	Uxbridge	Bikers	1,630
				1,630
Charitable	Activities
Kate Fassnidge		Community	Hall —Northwood	3,584	4,323
Kate Fassnidge Re-imbursement		Community Hall —Uxbridge ofInsurance		7,680 1,872	6,929 3,715
				13,136	14,967
Investment	Income
Bank deposit interest				461	59
Rent received				64,156	50,800
Multi-asset	fund income			75,947	63,930
				140,564	114,789
Total				155,330	129,756

.	CHARITABLE ACTIVITIES
		2023	2022
	Grants and donations made:		K
	Social &Housing Welfare needs Purchase ofChristmas hamper	21,546 24,181	39,200 22,151
		45,727	61,351
	Property maintenance and improvement
	General maintenance ofproperties Property Insurance Office Occupation Kate Fassnidge Community Hall running costs Kate Fassnidge Community Halls depreciation Office Equipment depreciation	1,177 4,151 21,211 3,949 1,772	76,049 5,360 7,552 19,448 5,311 647
		32,260	114,367
	Administration and governance
	Wages and salaries Employment expenses Suppoit charges —Legal and clerking Support charges —Estates and valuations Website design and hosting Expenses ofmeetings, refreshments etc Auditors remuneration	44,410 511 10,260 7337 44 1,820 6,720	37,568 771 15,379 7,479 530 1,778 6,120
	Management fee Office costs	7,358 1,229
	Bank fees	15
		79,704	69,625
	Total	157,691	245,343
4.	OTHER GAINS/(LOSSES)	2023	2022
	Unrealised (loss)/gain on investments	(141,743)	60,243
		(141,743)	60,243

EMPLOYEES
					2023	2022
Number ofemployees:					Number	Number
The average monthly	number	of employees	during	the
year was:
Employment costs
Wages and salaries					43,249	36,445
Social security costs
Employer pension costs					1,161	1,123
					44,410	37,568

. FIXEDASSETS
	The	Northwood	Uxbridge	Fixtures
	Cedars f	Hail (KFCH)f	Hall f	A fittings f	Total
Cost as at 1 April 2022 Additions	10,000	197,049	101,037	13,057 3,895	321,143 3,895
	10,000	197,049	101,037	16,952	325,038
Development costs: As at 1 April 2022	139,140				139,140
Development costs this
year
As at 31 March 2023	149,140	197,049	101,037	16952	464 178
Depreciation costs: As at 1 April 2022 Charge for current year		9,399 1,080	8,818 2,309	11,591 2,331	29,808 5,720
As at 31 March 2023		10,479	11,127	13,922	35,528
NBV at 31March 2023	149,140	186,570	89,910	3,030	428,650
NBV at 31March 2022	149,140	187,650	92,219	1,466	430,475

		osit Account	Multi-asset Fund	Other Funds	Total
As at 1 April 2022		488,824	1,865,667		2,354,491
Additions		461	73,788	283,736	357,985
Disposals		(349,120)	(5,442)	(577)	(355,139)
		140,165	1,934,013	283,159	2,357,337
Unrealised	gain/(loss)		(142,351)	608	(141,743)
NBV at 31	March 2023	140,165	1,791,662	283,767	2,215,594
NBV at 31	March 2022	488,824	1,865,667		2,354,491

DEBTORS
		2023	2022
Trade debtors			3,291
Prepayments	and accrued income	6,026	5,643
		6,026	8,934

CREDITORS: Amounts	falling due within
		2023	2022
Accruals and deferred income		18,195	20,300
Other creditors —deposits	held	3,465	4,241
		21,660	24,541

FUNDS
		Capital	Unrestricted	Restricted	Endowment	Total
		Bequest	Funds	Funds	Funds
At I April	2022	10,000	1,471,849		1,295,211	2,777,060
Income			155,330			155,330
Expenditure			(157,691)			(157,691)
(Loss)/gain	on investments		(49,222)		(92,521)	(141,743)
Transfers between funds
At 31March 2023		10,000	1,420,266		1,202,690	2,632,956