TRUSTEES ANNUAL REPORT 2023124 LEGAL AND ADMINISTRATIVE INFORMATION The Sir Thomas middlec05 Exhibition Foundation- Reg. Charfty No. 527283 is a charity governed by the schemes of the Chartty Commissioners dated 4 August 1976 and is constitutÈd by one ex-officio trustse (the Wicar of the Parish of St Peter and St Paul, Kirton in Hollandl, eight nominative trustees (two nominated by LÈncolnshire County Council and onÉ each by the Parish Councils of Algarkirl Fosdyke, Frampton, Kirton, Sutterton and Wyberton) and two Co-opted trustees. CharityTrustees- who have acted at any time during the 2023124 financlal year are:_ Nominated - Mr T Blackamore (Algarkirk PC), Mr M Pwtt (Fosdyke PC), Mr D May (Frampton PC), Mr R Pryke (Kirtonl, Mrc Baker (Sutterton PC), Mr R Austin {Wyberton PC), Mrs C Lidgett (LCC) and Cllr. M Brookes {LCC) Co-opted - None ctropted to act during the year aerk Ms S A Wilson. 50 Bell Lane, Moulton, Nr Spaldin& Lincs. PE12 6PH Bankers Barclays Bank plc, Boston. Linc5. Uoyds Bank pc, Boston. Lincs. Solicitors- Mossop & Bowser, 10 Spalding Road. Holbeach PE12 7LP Independent Examiners - Dexter & Sharpe, Boston PE216NA
NARRATIVE IDIFORMATION Objectives and Principal Activities The Charitws principal activity continued to be that of the promoting the education of pèrsons who have not yet attained the age of 25. who in the opinion of the Trust&¢s are In need of financial assistance and who have, for not less than two years, at any time attended a maintained primary school In one of the Parishes of Algarkirk, Fosdyke, Frarnpton. Kirton, Sutterton and Wyberton. Developrnent, Attivities and Adiievements It was with sadness thatthe Trustees reiVed the news. in March 2024, of the passing of Mr Cyril Baker the nominated representstive of Sutterton Parish Council. In De¢ember 2023 the Trustees received the regrettable news that the tenants of Middlecott House had entered re]VerShiP and the process of finding new tenants was Put into motion. It is hoped that a new lease will be in place by mid-june of 2024. One of the Charivs hou5e5 underwent substantial Improvements wtth the othertwo being tenanted throughout the year. In the opinion of the Trustees there were no serioLS5 incidents or other matters which they were required to bring to the attention of the Charity Commission. Financial Review The objectives are to generate sufficient income to continue the activities of the Charity and to maximise the retum of the Chariws asset& Wrthin the portfolio. cash reserves are held to ensure the ongoing actÈvities of the Charity can be maintained. Approved by the Trustees and signed on their behalf by: T A Blackamore - aiainnan Dated: . IL>-J&>3
SIR THOMAS mDLEc0 EX&tBITION FoifNDATION INCO& AND EXPENDITURE AccoiJNr for the year ended 315[ March 2024 21n4 2023 Income Enterest received Rents receiv¢d and other income 5J48 .838 959 36,186 40.233 Expenditure Grants issued Clerks salary and expen Rent, rates and insurance Light and heat Building expenses Printin83 postsge. internet and advertising Pi'ofesslonat fees Meeting expenses Sundry expenses 19,540 2259 7.716 1.425 4,746 25.827 1,671 3.403 3.675 763 396 60 527 385 22 183 Excess of income over expenditure for the year (719) 4.540
SIR THOMAS MIDDLECOTT EXHIBrrIoiY FOtiNDATION BALANCE SHEET at31" March 2024 2024 2023 FIXED ASSETS I OA & IOB Willin8ton Roa4 Kirton I l The Squarq Kirton 193.730 119 796 3l3.526 193,730 119796 313,526 CURREIYT ASSETS Barclays business Account Batth Current account DebtOTS aud prepayments 450.613 99.161 440,265 110228 549.774 550.493 CURRENf LIABILITJES Creditors 340 340 NET CURRENf ASSETS 549 434 550 153 Nrf ASSSETS 862.960 863 679 ACCUTrtULATED FUNDS Balance at 31" March 2023 l98.235 193,695 Less: Excess of income over expenditr for the year Balance at 31° March 2024 719 197516 198,235 End0wllt funds 665.444 665.444 862,960 863,679
Illdependent Examiner's Report Report to tIie trustees of SirThomas Middlecott Exhibition Foundation. Charity number: 527283. I report to the trustec5 on my examination of the accounts of the ab)ve Charity for the year end¢d 31• March 2Iy24 set out on pages 2 and 3. Responsibi]ities and basis of the report As the chartty truste¢Sy you are responsible for the preparation of theaunts in accordancewiththeTequtrements of the Charities Act2011. I Teport in respect of my examination of the Trust's accounts catried out undersection 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable directions given by the Charity Commi&%ion under section 145(5)(b) of the ACL Independent examiner's Statement I have completed my examination. I confimi that no materials matters have come to my Èttention in connection with the examination with gives me ¢au5e to believe that in, any material The accounting records not kept in acc4)rdanc¢ with section 130 of th¢ ACL. or The accouJ)ts did not accord with the accounting records the accounts did not comply with the applicable requirements concerning the forni and content of a¢couats set out in the ChaTities (Accounts and Reports) Regulations 2008 other than any uirement that the accounts give a 'true and fair, view which is not a matter considered as part of an ]nd¢Ident examilltho I have no coneerns and have come across no othw matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. Signed Name James Justin HolIand FCCA B.S¢ (Hons) Relevant professjonal quaIification Chartered C¢rtified Accountant Address Dexter & Sharpe (Boston) The Old Viear Church Close Boston Liueolnshire PE216N