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2023-12-31-accounts

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

31 DECEMBER 2023

Company Limited by Guarantee No. 468425 (in England & Wales) Registered Charity number: 305211

BROOKS & CO. Chartered Accountants

Suite 3, Independent House Independent Business Park Imberhorne Lane East Grinstead West Sussex RH19 1TU

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

CONTENTS
Page
Company Information 2
Report of the Trustees 3 - 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 - 17

2

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023

REGISTERED OFFICE: 7, Bells Yard
London
WC2A 2JR
BUSINESS ADDRESS East Court
FOR CORRESPONDENCE: College Lane
East Grinstead
West Sussex
RH19 3LT
BANKERS: Lloyds Bank plc
1 London Road
East Grinstead
West Sussex
RH19 1AH
INVESTMENT ADVISERS: Rathbones Limited
1 Curzon Street
London
W1J 5FB

ACCOUNTANTS:		 Brooks & Co.
Suite 3, Independent House
Independent Business Park
Imberhorne Lane
East Grinstead
West Sussex
RH19 1TU
LEGAL CONSULTANTS: Blandy & Blandy LLP
One Friar Street
Reading
Berkshire
RG1 1DA

3

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[ST] DECEMBER 2023

The Trustees (who are also Directors) present their annual report with the accounts of the Company for the year ended 31[st] December 2023. The Trustees report also contains a Directors Report as required by Company Law.

The Report and Financial Statements have been prepared in compliance with current statutory requirements of the Statement of Recommended Practice applicable to charities preparing their financial accounts in accordance with FRS 102, the Charities Act 2011 and in accordance with the Small Companies Regime (section 419(2) of the Companies Act 2006).

OBJECTS AND PRINCIPLE ACTIVITY OF THE COMPANY

The Company’s Articles contains the following statement of the objects for which the Company is established:

“To provide and maintain, as a memorial to the men, women and children of East Grinstead who lost their lives in the 1939-1945 War, a public park with playing fields, recreation grounds, or other recreational or educational facilities for the people of East Grinstead.”

“To encourage and promote any form of public recreation or education or any other charitable object, including by the making of grants for the benefit of the people of East Grinstead”.

The Charity is registered with the Charity Commission, number 305211, and with the Registrar of Companies, number 468425.

In setting objectives and planning activities the Trustees have complied with the duty in section 17 of the 2011 Charities Act and have given careful consideration to the Charity Commission’s general guidance on public benefit.

The Company considers its public benefit to be: -

ACHIEVEMENTS AND PERFORMANCE

During the year there has been much Board focus on strengthening our Governance standards to reflect the size of the Charity and also to ensure we have the tools at our disposal to intensify the adherence to published plans of our major tenant. As anticipated, our capital base has recovered during the period, but this has not yet translated into any significant uplift in our income levels. Our grant distribution was maintained at the higher ‘pandemic’ levels to provide additional support in challenging economic times, but we recognise this level is not sustainable for the immediate future.

4

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31[ST] DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE (Continued)

Board Progress

Your Board has continued to apply our policy of time limiting Directors which has resulted in the retirement of Christopher Russell at our 2023 AGM accompanied by Mike Barlow. Chris has been involved with the charity in various roles spanning the last four decades and his presence and counsel are greatly missed. Mike left to concentrate his focus on the East Grinstead, Trussell Trust supported Food Bank which has faced ever increasing demand in recent years. We wish them both well.

Board departures create vacancies and whilst over the last two years we have successfully recruited several new Directors, in anticipation of further time limited retirements in 2024, your Board has embarked on a further recruitment exercise to maintain its strength and balance.

The Board completed its review of essential policies during the year and in a continuing spirit of transparency these are available for viewing on our website. Such policies are now subject to regular review and will be updated as necessary.

Our membership has remained stable at 50 with new members off setting those who have retired.

The Charity’s website has been re-built during the second half of the year attracting a favourable response, but we do recognise the need to develop further our social media presence in the year ahead.

Annual Grant Programme

As reported last year, the Board has doubled the historic sum made available for local distribution to local causes and during the summer distributed just under £30,000. Details of the grants made appear later as notes to these accounts. Our thanks go to Lynn Graysmark and Christopher Russell for overseeing the grant process and also to Mid Sussex Voluntary Action for their support in the process.

Our Tenants

The relationship with our three tenants continues to develop with much involvement during the year with our two sporting tenants, East Grinstead Target Shooting Club and East Grinstead Town Football Club, on overlapping interests.

Terms have been agreed for the renewal of the lease for the Shooting Club which is concurrently being formalised. During the year, much agreed maintenance work was undertaken by the Club to regularise the boundaries and reduce risk from overhanging trees.

Professional arboriculture assessment was undertaken for the Charity relating to the land to the north of the access road to the two clubs, with at risk trees subsequently removed by professional tree surgeons.

Turning to our major tenant, which is Mid Sussex District Council, we still face a majority of elements of the published 10-year plan that remain unaddressed. We have made our concerns very plain to the Council through both scheduled Steering Group meetings and other routes. There are some plusses to report such as the Holtye track which has been maintained to a higher standard than hitherto and we are now having sight of the SANG financial statements on a regular basis. This has led to a renewed commitment to utilize some of these funds for enhancements to the Estate. An objective established during the year was to install further boardwalk access in key areas of the woods with an early target being the Ghyll Steps – we hope to see these enhancements in place during 2024.

5

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31[ST] DECEMBER 2023

ACHIEVEMENTS AND PERFORMANCE (Continued)

Another issue that requires addressing is the hugely expensive but unavoidable issue of Ash dieback, and plans are in development for this to be tackled by MSDC, at their own cost, during 2024.

During 2023 we sought legal advice to strengthen our position with MSDC – this came at below our expected costs and has provided us with an analysis of the legal position as well as giving us a way forward to use in case of need. We have been transparent with the officers at MSDC that we do have a strategy to retain their focus and thus far, our resolve is proving sufficient to ensure that focus is retained.

A change in the Council’s prime contractor occurred at the end of the year which it is hoped will lead to improvements in both woodland and greenspace maintenance. One issue that has latterly emerged is the increasing inadequacy of the playing fields for use by local football teams. This has been brought to the attention of MSDC and we look forward to early restoration of the fields to playable condition.

As ever the Ashplats Conservation Group continue to make a difference, particularly to the woodland environment, and our thanks go out to them for the many hours of volunteer effort they contribute. Like ourselves, they are keen to welcome new volunteers.

In conclusion, we continue to have a robust financial position and we have a Board and its advisers that is composed of a broad range of professional skills able to drive the Charity forward. All of us are volunteers and my thanks go to them for their time and commitment in protecting this wonderful space we call East Grinstead Memorial Estate.

REVIEW OF THE FINANCIAL POSITION

The Trustees report that the net movement in funds for the year was a surplus of £34,057 (2022: deficit £194,039) which included gains of £58,319 (2022: losses £179,361) on the revaluation and disposal of investment assets and property. The Balance Sheet at the year-end remains satisfactory with a total of unrestricted funds amounting to £1,745,538 (2022: £1,711,481).

RESERVES POLICY

It is the policy of East Grinstead Memorial Estate Limited to hold in reserves the equivalent of six months operating costs.

STRUCTURE GOVERNANCE AND MANAGEMENT

The Charity is registered with the Charity Commission, number 305211, and with the Registrar of Companies, number 468425. It is governed under its Articles of Association dated 2nd May 1949, updated 25 May 2017, 20[th] June 2018 and further amended on 5[th] July 2022.

A summary of the history of the Company can be obtained from the Company website www.egmel.co.uk.

The business of the Company is managed by the Trustees (who are also the Directors) who may delegate all or any of their powers to a sub-committee, consisting of any one or more of its members as it may think fit. The Trustees meet at regular intervals throughout the year to review matters and take any necessary and appropriate action. Resolutions and actions are agreed upon by majority vote.

6

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31[ST] DECEMBER 2023

TRUSTEES (who are also Directors)

The Company is managed by the Trustees, who are also Directors. At the end of the year 8 members served as Trustees:

L Richards Chairman L Graysmark Vice Chairman A Hacke Treasurer C Nunn Secretary M Phillips M Rew C Williams P Martin M Barlow (resigned 6 July 2023) C Russell (resigned 11 July 2023)

The Chairman and Vice Chairman are elected annually by the Trustees. Trustees are re-appointed by members every third year. When Trustee vacancies arise, applications are invited from members, the member needs to be nominated and seconded and then approved by the members at an AGM. Any member wishing to become a Trustee irrespective of a vacancy, will be put before the members at an AGM, subject to the maximum number of Trustees as detailed in the governing document.

The Trustees meet a minimum of four times a year, minutes of the board meetings are posted on the website. Day to day decisions are taken by the Chair and Vice Chair, sub- committees are appointed from the board of trustees when required, utilising specific trustees’ expertise as appropriate.

Details of any remuneration given during the year to the Trustees is shown in the Notes.

Disclosure of interests

The company transacts on a commercial basis with various contractors and service providers. On occasions, contractors and service providers may have a business or family relationship with a trustee, but in all cases, transactions are on an arm’s length basis on commercial terms.

RISK MANAGEMENT

The Trustees are responsible for the management of risks faced by the Charity. The Trustees confirm that the major risks to which the Charity is exposed, as identified by the Trustees have been reviewed and systems have been established to mitigate these risks.

EAST GRINSTEAD MEMORIAL ESTATE LIMITED REPORT OF THE TRUSTEES continued FOR THE YEAR ENDED 31. DECEI¥IBER 2023 TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of The East Grinstead Memorial Estate Limited for the purposes of company law} are rebponsible for preparing the Truslees. Annual Report and ihe financial sialements in (IccordanLe with applicable law and regulations. Company law requires the trusle¢s to prepare financial statements for each financial yeat. Under the law the trustees have elected to prepare the financial statements in accordance with Uniled Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the tinancial statements unless rhey are Sdlisfied that they give a Irue and fair view ot" the stale of atyairs ot. the company and Ihe income and expenditure of the Lompany for that penod. In preparing these financial statements, the trustees are required to.. Select suitable accounting polici¢s and apply them consistently. Observe the methods and principles in Ihe Chanties SORP. Make judgemenls and estimates that are reasonable and prudent. and Prepare the financial statements on a going concern basis unless It is inappropnate to presume that the company will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company s tranbactions and disclose with reasonable accuracy at any time the financial position ot the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taknng reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of Trustees. Richards (Chai an} Mrs. L ray ark( Ice Chairnian) Approved by steeson g 2024

8

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating the Income and Expenditure Account)

FOR YEAR ENDED 31 DECEMBER 2023

Note Total Funds Total Funds
Income and endowments from: 2023 2022
£ £
Donations 3a 550
 500
Investments 3b 24,798 24,764
Total Income 25,348 25,264
Expenditure on:
Raising funds 4a 9,385 6,152
Charitable activities 4b 40,225 33,790
Total Expenditure 49,610 39,942
Net gains/(losses) on revaluation and disposal
Investments 58,319 (179,361)
Net (expenditure)/income
Net movement of funds 34,057 (194,039)
Total funds brought forward 1,711,481 1,905,520
Total funds carried forward 1,745,538 1,711,481

All of the funds of the Charity are considered to be unrestricted for both the current and preceding year.

The notes on pages 10 -17 form part of these accounts.

EAST GRINSTEAD MEMORIAL ESTATE LIMITED BALANCE SHEET AS AT 31 DECEMBER 2023 Notes 2023 2022 Fixed assets Tangible assets Investments 700,000 1028 001 700,000 975 126 1728 001 1675 126 Current assets Prepaymenls and accrued income Cash at bat 401 380 21,686 40,500 Current liabilities Accruals and deferred income Net current assets Total assets less current liabi15ties Funds Untestricted funds.. Capital reserve Revaluation Reserve General charitsble funds 72,300 303,689 1369 549 72.300 303,689 1335 492 For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 ot th¢ Companies Act 2006 relating to small companies. Directors, Responsibilities The members have not required the company to obtain an audit of its accounts for the year in question in accoidance with section 476. and The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with t small companies. regime and in accordance with FRS I O UK and Republic of Ireland,. These accounts were approved by the truslees and authorile4 for issue provisions applicable to companies subject to the The Financial Reporting Standard applicable in the n, and are signed on their behalf by.. Mr L Richards Chainnan MrsL ra Vice Chai Registered Charity Number: 3052 J l Register Companv Number: 468425 The notes on pages Ilk17 forni part of these accounts.

10

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

1. General Information

The company is a registered charity limited by guarantee without share capital, registered in England and Wales. The address of the registered office is 7, Bells Yard, London, WC2A 2JR.

2. ACCOUNTING POLICIES

a. Basis of preparation

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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

East Grinstead Memorial Estate Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b. Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

c. Investments

Investment properties are stated at fair value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals through the year. Although this accounting policy is in accordance with the charities SORP (Statement of Recommended Practice) it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the Trustees compliance with the standard is necessary for financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Other Investments are stated at market value at 31 December 2023. The gains and losses arising on revaluation, including losses arising on the disposal of investments are shown on page 8 of the Financial Statements.

d. Realised gains and losses.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

e. Tangible fixed assets

All assets are originally recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. East Grinstead Memorial Estate Limited Land is stated at re-valuation as at the date of transition to FRS 102, 1 January 2015, and this amount is the deemed cost at this date.

11

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

f. Depreciation

East Grinstead Memorial Estate Limited Land is not depreciated, on the basis that the fair value is equivalent to deemed cost.

g. Income recognition

All incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy.

h. 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 directly attributable to the Charity’s sole charitable activity is allocated on an actual basis.

i. Allocation of support and governance costs

Support and governance costs are those costs incurred directly in support of expenditure on the objects of the charity and are all allocated to charitable activities.

j. Fund’s structure

The general charitable fund is an unrestricted fund which is available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which has not been designated for other purposes.

The capital reserve represents the initial capital subscribed to the charity at its inception in 1949.

The revaluation reserve represents the revalued amount of the East Grinstead Memorial Estate Limited Land at the date of transition to FRS102.

12

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

3. INCOME RESOURCES

a. Donations
Membership fees
Sundry donations

b. Income from Investments

Dividend income
Rental income
Interest received


4. EXPENDITURE
a. Expenditure on raising funds.
Investment management costs
Property and estate repairs
Property and estate insurance
Property letting fees
b. Expenditure on charitable activities.
Grants and donations (see page 13)
Support costs (see below)

Support Costs
Administration
Room hires and meeting expenses
Governance costs:
Accountancy fees
Insurance
Legal & professional fees
Bank charges







2023
£
510
40
550
23,281

1,050
467
24,798
25,348

2023
£
5,468
3,294
623
-
9,385
29,994
10,231
40,225

630
161
2,400
682
6,358
-
10,231		 2022
£
440
60
500
22,734
1,050
980
24,764
25,264
2022
£
5,496
72
584
-
6,152
30,244
3,546
33,790
628
96
1,800
1,009
13
-
3,546

13

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

4. EXPENDITURE (Continued)

Ashplats Conservation Group
East Grinstead Lions
Everychild Trust
Family Support Work
Christians Against Poverty
East Grinstead Swimming Club
Escotts School Association
Age UK – EG & District
Being Neighbourly
Kangaroos Mid Sussex
St Mary’s School
Super Siblings
Sussex Clubs for Young People
William Robinson Gravetye Charity
6th East Grinstead Rainbows
East Grinstead Museum
East Grinstead Target Shooting Club
4thEast Grinstead Guides
Chequer Mead Theatre
EG & District Mental Health Group
Jigsaw South East
NTCTS Resolution
Turning Tides
Meridian FM
Relate
East Grinstead Community Bonfire
Friends of Halsford Park School
Jubilee Community Church
RBL Poppy Appeal		 2023
£
207
3,500
3,000
3,000
2,000
2,000
2,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
887
750
750

500
500
500
500
500
500
400
400
300
300
300
200
29,994

Grants & Donations for the Year ended 31[st] December 2022 totalled £30,244

14

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS

6. INVESTMENTS
Investments comprise the following.

Investments held on
a recognised stock exchange
Cost or valuation
As at 1 January 2023
Revaluation
As at 31 December 2023
Depreciation
As at 1 January 2023
As at 31 December 2023
Net Book Value
As at 31 December 2023
As at 31 December 2022		 2023
2022
£
£
1,028,001
975,126
1,028,001
975,126
East
Grinstead
Memorial
Estate
Limited
Land
£
700,000
-
700,000
-
-
700,000
700,000

15

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

6. INVESTMENTS (continued)

Held on a recognised Stock Exchange

Held on a recognised Stock Exchange
Market value 1 January 2023
Acquisitions at cost
Disposals at opening book value
Net gain/(loss) on revaluation

Cash held as part of portfolio
Market value at 31 December 2023

Cost at 31 December 2023
Analysis of Investments at 31 December between funds

Listed Investments
Fixed Interest Securities
UK Quoted Shares
Overseas Securities
Cash held as part of portfolio		 2023
£
946,583

99,028
(82,077)
51,537
1,015,071
12,930
1,028,001
767,950
2023
£
132,993
459,113
422,965
1,015,071
12,930
1,028,001		 2022
£
1,136,120
-
(9,233)
(180,304)





946,583
28,543
975,126
760,198
2022
£
117,848
457,999
370,736
946,583
28,543
975,126

Investments are held primarily to provide an investment return for the charity.

7. SHARE CAPITAL

The Company is a registered charity without an issued share capital and with no limit on the number of members, whose liability is limited to a guarantee of £1 per member.

16

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

8. MOVEMENT OF FUNDS

Unrestricted
Funds
Capital
Reserve
Revaluation
Reserve
General
Charitable
Funds		 At 1
January
2023
£
72,300
303,689
1,335,492
1,711,481		 Incoming
£
-
-
25,348
25,348		 Outgoing
£
-
-
(49,610)
(49,610)		 Gains/
(Losses) on
Investment
£
-
-
58,319
58,319		 Transfers
£
-
-
-
-		 At 31
December
2023
£
72,300
303,689
1,369,549
1,745,538

The Capital Reserve represents the initial valuation of the assets of the company at formation.

Analysis of movements of funds – previous year

Unrestricted
Funds
Capital
Reserve
Revaluation
Reserve
General
Charitable
Funds		 At 1
January
2022
£
72,300
303,689
1,529,531
1,905,520		 Incoming
£
-
-
25,264
25,264		 Outgoing
£
-
-
(39,942)
(39,942)		 (Losses)/
Gains on
Investment
s
£
-
-
(179,361)
(179,361)		 Transfers
£
-
-
-
-		 At 31
December
2022
£
72,300
303,689
1,335,492
1,711,481

17

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2023

9. ANALYSIS OF NET ASSETS BY FUND



Tangible fixed assets

Investments
Net current assets
Analysis of net assets by fund – 2022


Tangible fixed assets

Investments
Net current assets		 Capital Revaluation
Reserve
Reserve
£
£
51,412
303,689
20,888
-

-
-

72,300
303,689

General
Capital Revaluation
Reserve
Reserve
£
£
51,412
303,689
20,888
-
-
-

72,300
303,689
 General
Charitable
Funds
£
344,899
1,007,113
17,537
1,369,549
Charitable
Funds
£
344,899
954,238
36,355
1,335,492		 Total
£
700,000
1,028,001
17,537

1,745,538
Total
£
700,000
975,126
36,355
1,711,481

10. TRUSTEES’ REMUNERATION

During the year none of the Trustees received remuneration in respect of services as a trustee (2022: £Nil).

One trustee claimed expenses amounting to £341 (2022: one trustee claimed £445) in respect of administrative costs.

11. RELATED PARTIES

There were no related party transactions during the year.

18

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2023

The following pages do not form part of the statutory financial statements.

19

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

CHARTERED ACCOUNTANTS’ REPORT TO THE BOARD OF TRUSTEES ON THE PREPARATION OF UNAUDITED STATUTORY ACCOUNTS OF EAST GRINSTEAD MEMORIAL ESTATE LIMITED FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of East Grinstead Memorial Estate Limited for the year ended 31 December 2023 as set out on pages 8 to 17 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/members handbook.

This report is made to the Company’s Board of Trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of the East Grinstead Memorial Estate Limited and state those matters that we have agreed to state to them in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s Board of Directors/Trustees, as a body, for our work or for this report.

It is your duty to ensure that the East Grinstead Memorial Estate Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and surplus/deficit of the company. You consider that the East Grinstead Memorial Estate Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of the East Grinstead Memorial Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us, and we do not, therefore, express any opinion on the statutory accounts.

Brooks & Co Chartered Accountants

Suite 3, Independent House Independent Business Park Imberhorne Lane East Grinstead West Sussex RH19 1TU

Date 2024

20

EAST GRINSTEAD MEMORIAL ESTATE LIMITED

INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

INCOME
Membership fees and members donations
Investment income
Rental income
EXPENSES
Grants and donations
Property and estate repairs
Property and estate insurance
Legal and professional fees
Investment management fees
Administrative expenses
Accountancy
Insurance
Room Hire and meeting expenses
(Gain) on disposal of investments

Total expenses
(Deficit) for the year
Add: unrealised surplus/(deficit) on revaluation
of investments
NET MOVEMENT IN FUNDS
2023
£
550
23,748
1,050
25,348
29,994
3,294
623
6,358
5,468
630
2,400
682
161
(6,782)
42,828

(17,480)
51,537
34,057
 2022
£
500
23,714
1,050
25,264
30,244
72
584
13
5,496
628
1,800
1,009
96
(943)
38,999
(13,735)
(180,304)
(194,039)