Charity Registration No. 311128 THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) LEGAL AND ADMINISTRATIVE INFORMATION Trustees C Soulherland A Townshend C Mitchell G Bocking E Gould B Welsh Nominee J Gould Charity number 311128 Principal address The Brancaster Educational and Almshouse Charity The Clerk Brelte Cotlage Cross Lane Brancasler Norfolk PE318AE Independent Examlner Mapus-smilh & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE
THE ROBERT SMITH TRUST {BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) CONTENTS Page Trustee Report Independent Examiners Report Receipts & Payments Liabilities Assets & Investments held by the Charity Reserve Statement
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) TRUSTEE REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies sel out in note to the financial statements and comply the charity's governing document, the Companies Act 2006 "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)"{as amended for accounting periods commencing from 1 January 20161 Objectives and activitles, 2024 Objectives. The maintenance, management and upgrading ofAlmshouses and providing benefits relating to the Residents. Financial assistance to enhance educational experience of children within the named parishes. Maintenance of School Farm. Achievements and performance Almshouses. New dimplex night storage healers were fitted In cottages 2 and 3 to enhance thelr EPC ratings. The old healers were sold on eBay cutting the cost of the new healers. Electrical remedials were carried out in cottages 1 and 2 and the heal pumps and pump station were serviced. Coltage 2 had the bathroom redecorated. Fire blankets were issued to each cotlage kitchen. The weekly maintenance charges were raised by 5/0 on the 1st May, 2024. 2. School Farm. Outline planning permission was applied for and granted for a Ilmber framed one and a half story collage. The original building had the asbestos removed and was then demolished. Further asbestos was removed from the cart shed. A report frorn a structural surveyor was obtained with a vlew to repairing the chalk barn. 3. Educatlon. No financial assistance has been given to the School as D.N.E.A.T. threatened to close the School at Christmas. 11 now appears that il will remain open until the end of the 202412025 academic year. The trust gol no report from the head teacher regarding the reading project they supported or the rnusic leaching at the school. Due to the heavy work going on al the farm il was not possible to hold the annual school picnic in the summer. The Trustees are aware that the original scheme will require amending should the school close at the end of July.
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) TRUSTEE REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review The Reserves Policy slates.. The Trustees consider that sufficient funds should be retained in liquid form lo meet short term liabilities and any possible shortfall in income. Cash and deposlts at the year end should normally equate to at least six months, expenditure. The general reserves held at the year end lotaled £39,100 {2023 - £68,585). The charity held assets and investments valued at £1,848.315 as al 31 December 2024 (2023- £1,873,765). Structure, governance and management The Scherlle allows for seven Trustees.. The Benefice has been enlarged by the Church of England to include eight parishes. In addition, there are three Co-oplative Trustees and three Nominated Trustees. One Nominated Trustee {an Educalionalisl) is and has been approved by Norfolk County Council. The three Co-oplative Trustees are appointed by the Trustees. Nominations are considered by the Trustees and the Chairman announces the result. Following the resignation of the Rev. Kirsty Allan there is a vacancy awaiting the appointment of her successor lo the Benefice. The Chairman who is elecledlre-elected each year leads the organizalional structure. The Clerk to the Trustees is appointed by the Trustees and is the only person receiving remuneration. All decisions Including those delegated lo an individual are taken by all Trustees at a meeting. Llst truslees Mr C Soulherland Mr A Townshend Mr B Everitl (passed away 0110212024) Mr C Mitchell Mr E Gould Mr B Welsh (appointed 1210212024) Mr G Bocking The Iruslees, report was approved by the Board of Trustees. C Southerland Trustee Oated: i. 101
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 I report to the trustees on my examination of the financial statements of The Brancasler Educational and Almshouse Charity (the charity} for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity {and also its directors for the purposes of company law) you are responsible for the preparation of the financial slatemenls in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slalemenls carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151(bl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my altenlion in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the accoLtnting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as parl of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no concerns and have come across no olher matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Mrs Sharon Edwards, F.C.A. Mapus-smilh & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE Dated.. .0..?.. ¢/L
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Maintenance Charges Farm Rent & Shooting Rights Gas Contribution Bank Interest Investment Income Grants Other income 20,757 12,180 20,092 12,180 653 3,562 290 3,425 2,000 300 37,452 37,987 TOTAL RECEIPTS GENERAL Professional Fees Farm Insuranc& Farm Malnten8nce Architect's Fees Secretarial- Expenses & Honorarium Bank Charges 2,936 1,409 31,490 2,172 1,650 900 1,100 1,150 39,657 3,150 EDUCATIONAL 5,600 ALMSHOUSES Insurance Gas & Electricity NAA Subscriptions Gardener Rates & Water Rales TV Licence Maintenance- General 1,090 {6111 267 664 1,073 735 153 623 1,042 14,297 16,780 12,864 56,437 21,614 10,500 Almshouse loan repayments TOTAL PAYMENTS 10,500
THE ROBERT SMITH TRUST {BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 GENERAL Farm Rent & Shooting Rights Investment Income Bank Interest Grants Other income 12,180 3,562 653 12,180 3,425 290 2,000 300 TOTAL RECEIPTS 16,695 17,895 Professlonal Fees Farm Insurance Farm Maintenance Architects Fees Secretarial - Honorarium Secretarial- Expenses TOTAL PAYMENTS 2,936 1,409 31,490 2,172 900 1,100 1,650 1,150 (39,657) {3,150) Balance 122,962) 14,745 Appropriation of above income in accordance with Section 25 (1) of the Charity Comrnission Scheme 22n¢ November 1982. EDUCATIONAL Nel Balance {-22,962} x 51 /, DNEAT- School Reading Project Brancasler PFA school picnic St Mary Federation books Total Expenditure (11,711) 7,520 5,400 200 15,6001 Balance {11,711) 1,920 ALMSHOUSES Nel Balance (-22,962) x 49010 Maintenance Charges Gas Contribution 111,2511 20,757 7,225 20,092 Total Receipts Insurance Rent & Electricity Refunds Gas & Electricity NAA Subscriptions Gardener Rates & Water Rates TV Licence Maintenance- General 9,506 27,317 1,090 735 (611} 267 664 1,073 153 23 1.042 14,297 10,303 Total Expenditure 116,780) (12,8641 Balance 17,274) 14,453
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ALMSHOUSE CONSTRUCTION From Alsmhouse Assoc Parish Council Grant Total Receipts Construction Costs Architects Fees Loan repayments 10,500 10,500 Total Expenditure {10,500} {10,500) Balance (10,5001 {10,500)
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) LIABILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Almshouse Construction Loan Loan Negolialed brought forward as al 01.01.24 Repayments 73,500 (10,500) Total loan owing as al 31.12.24 63,000 Loan Arrangement Fee 100,000 5,000 105,000 Loan Negotiated Drawdown- yle 31.12.19 Drawdown- yle 31.12.20 100,000 (92,0841 {7,9161 Total loan available Loan to be repaid at £5,250 x 2 per annum Over 10 years
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) ASSETS AND INVESTMENTS HELD FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 71 Acres of Farmland Almshouses11-2-31 Almshouses14-51 875,000.00 665,000.00 128,830.00 (3) 875,000.00 15} 665,000.00 1111 128,830.00 (3) (5} 1,668,830.00 1,668,830.00 (111 INVESTMENTS HELD IN TRUST Extraordinary Repair Fund 1,357.555 Charishare Inveslmenl Fund 36,988.70 36.988.70 113) 34,784.76 34,784.76 {12) Special Range 9,080.000 Charinco Distribution Units 6,796.910 Charishare Distrlbution Units 9,459 Chaiinco Accumulation Units 27.028 Charishare Accumulation Units 12,896.12 {131 13,501.43 51,008.63 {13) 49,641.12 436.84 (13) 438.78 736.42 65,078.01 (13} 692.54 (121 {12) (12) 64,273.87 (12} Expendable Funds 5,105.948 Charishare Distribution Units 38,318.51 38,318.51 (13) 37,291.21 37.291.21 (12) 1,809,215.22 1,805,179.84 BANK ACCOUNTS Barclays Premium Barclays 24,099.96 15,000.07 32,084.60 36,500.21 39,100.03 68,584.81 1848,315.25 1873,764.65 NOTES 31 Professional revaluation 0812016 51 Professional revaluation 0912018 11) Construction of 2 additional 12) Bid value as al 31.12.23 13) Bid value as at 31.12.24
THE ROBERT SMITH TRUST (BRANCASTER EDUCATIONAL AND ALMSHOUSE CHARITY) RESERVE STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Reserves at 01.01.24 Barclays Barclays Premium Reserves at 01.01.23 Barclays Barclays Premium 36,500 32,085 34,342 28,370 68,585 62,712 Movement during the year Educational Almshouses Construction Movement during the year Educational Almshouses Construction 111,266) {7,719} (10,500} 1,920 14,453 (10,500} 129,485) 5,873 Reserves al 31.12.24 Barclays Barclays Premium Reserves at 31.12.24 Barclays Barclays Premium 15,000 24,100 36,500 32,085 39,100 68,585 Trustees None of the Irustees (or any persons connected with them} received any remuneration or paid any expenses during the year.