REGISTERED CHARITY
NUMBER: 527673
PINCHBECK’S SCHOOL, BUTTERWICK
TRUSTEES REPORT RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
YEAR ENDED 31 DECEMBER 2022
| Contents | Page |
|---|---|
| Trustees Report | 1 and 2 |
| Independent Examiners Report | 3 |
| Receipts and Payments Accounts | 4 |
| Statement of Assets and Liabilities | 5 |
| Notes to the Receipts and Payments Accounts | 6 |
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present the receipts and payments accounts of the charity for the year ended 31 December 2022.
Pinchbeck’s School, Butterwick was registered as a charity on 16 September 1964 (registered charity number 527673).
OBJECTIVES AND ACTIVITIES
The objects of the charity are:
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Maintenance of a school for boys and girls and infants, as public elementary school. 2. Provision of scholarships and exhibitions for boys and girls attending P.E.S. in the parishes of Butterwick, Freiston, Wrangle, Leake, Leverton, Benington, Fishtoft and Skirbeck.
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Providing a school lending library and prizes or exhibitions tenable at a training college for teachers.
The charity receives income from the rental of various properties and land that it holds as its assets. In addition interest is received on monies held on deposit. The charity operates to support the local school as set out in its constitution and makes resources available for the education of children in the surrounding area.
In planning the activities of the charity the trustees aremindful of the guidance issued by the Charity Commission with regard to public benefit.
Additional information
All trustees give their time voluntarily and receive no remuneration or other benefits.
ACHIEVEMENT AND PERFORMANCE
Rental income received is detailed in note 1 to the receipts and payments accounts.
Interest received was dependent on the monies held on deposit and the interest rates applicable during the year.
Monies invested are in ethical based low/risk portfolios.
Additional information
The charity continues to support the running of the school kitchen, and contribute to maintaining the school building and grounds. In particular support is provided to the school to ensure children with special needs have one to one support pending educational health support from the local education authority.
FINANCIAL REVIEW
The results for the year are shown in the receipts and payments accounts on pages 4 to 6.
The charity holds cash at bank, all of which represents unrestricted funds. These funds are held in order to meet any unforeseen expenditure that may occur. Any surplus funds which are not likely to be needed in the foreseeable future are placed on deposit to earn interest.
The trustees maintain the reserves of the charity at a level deemed sufficient for the charity to operate in such a manner to meet its objectives.
Additional information
The charity’s principal sources of fund are rents from various properties and lands, and interest earned on deposits and investments.
The charity has a policy of investing in ethical based low/medium portfolios.
1
The charity has a policy of identifying opportunities to purchase additional land to rent.
2
TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022 – continued
The trustees have assessed the risks to which the charity is exposed:
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Risk to rental income includes any inundation by salt water of the arable farm land which is rented out.
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Unexpected expenditure in relation to residential property is mitigated by ensuring properties are well maintained and adequately insured.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity governing document is a Scheme dated 23 October 1876.
Type of governing document is a trust deed. The charity is constituted as an endowed trust.
New trustees are recruited by word of mouth by local people, by recommendation of existing trustees and by people in the community who volunteer. Any new trustee needs to have the relevant skills set to complement the existing board of trustees. New trustees are given the necessary training as required.
Additional information
New trustees are given the necessary induction and training required.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity name: Pinchbeck’s School, Butterwick Registered charity number: 527673
Charity’s principal address: Butterwick Primary School Butterwick BOSTON Lincolnshire PE22 0HU
TRUSTEES
The trustees who held office during the year were: Mr A Godwin (Chair) Mr P Watson Mr P Walsh – Deceased 16 November 2022 Rev A Higginson Mrs H Dower Mr D Bell Mr J Debnam
Approved by the Trustees and signed on their behalf
Trustee – Mr A Godwin (Chair) Date: 30/08/2023
Trustee – Mr P Watson
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INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES
Independent examiner's report to the trustees of Pinchbeck’s School, Butterwick
I report to the charity trustees on my examination of the accounts of Pinchbeck’s School, Butterwick for the year ended 31 December 2022 which are set out on pages 4 to 6.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
John Chappelle Bsc (Hons) FCA Insight for Knowledge Limited Acorn House Church Lane Croft Lincolnshire PE24 4RN
Dated:
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RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022
| UNRESTRICTED FUND |
2022 | 2021 | ||
|---|---|---|---|---|
| £ | £ | |||
| RECEIPTS | ||||
| Rental income from: | ||||
| Properties | 13,460 | 17,020 | ||
| Land | 38,197 | 41,400 | ||
| 51,657 | 58,420 | |||
| Sale of School Farm Cottage and barn | - | 147,000 | ||
| Interest received - National Savings | 25 | 1,439 | ||
| Sundry income - wayleave | 36 | 36 | ||
| Eon refund | - | - | ||
| AWA refund | - | 185 | ||
| ELDC refund | - | 259 | ||
| Insurance refund | - | 198 | ||
| 61 | 149,117 | |||
| TOTAL RECEIPTS | 51,718 | 207,53 | ||
| 7 | ||||
| PAYMENTS | ||||
| Contributions paid to Butterwick School | 69,011 | 6,393 | ||
| Contributions paid to Butterwick School kitchen | 3,772 | 3,098 | ||
| Payment of insurance for Butterwick School | 1,145 | 641 | ||
| Rental property expenses: | ||||
| Repairs etc. | 4,035 | 3,045 | ||
| Utilities (water rates etc.) | 845 | 1,413 | ||
| Insurance | 1,028 | 866 | ||
| Gardening services | 2,747 | 1,545 | ||
| Legal and professional fees | 6,000 | 6,591 | ||
| Teaching staf retirement and leaving gifts | 80 | 350 | ||
| Clerk fees | - | 1,500 | ||
| Other – room hire meetings | 20 | - | ||
| - | ||||
| TOTAL PAYMENTS | 88, | 25,442 | ||
| 68 |
2 | |||
| NET RECEIPTS FOR THE YEAR | ( 36, |
|||
| 963) | 182 095 |
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STATEMENTS OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2022
| MONETARY ASSETS Lloyds Bank – Treasurers account National Savings Brooks Macdonald Investment – Original £400,000 As at 18/10/2022 Unpaid invoices NET ASSETS REPRESENTED BY: Unrestricted funds: Balance brought forward Net receipts/(payments) for the year Investment loss on Brooks MacDonald Investment TOTAL FUNDS |
2022 £ 106,06 48,74 368,10 4 522,91 522,91 2022 £ 591,77 (39,963 (31,896 ) 522,91 |
2021 £ 340,71 251,72 - |
|---|---|---|
| 592,43 | ||
| (664) | ||
| 591,77 | ||
| 2021 £ 409,67 182,09 |
||
| 591,77 |
OTHER ASSETS
In addition to the funds noted above, the charity owns various property and land as detailed in note 1.
APPROVAL
The receipts and payments accounts were approved by the Trustees and signed on their behalf by:
Trustee – Mr A Godwin (Chair)
Trustee – Mr P
Watson Date: 30/08/2023
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NOTES TO THE RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. RENTAL INCOME ANALYSIS
| Properties: Pinchbeck House, Butterwick School Farm Cottage The Nursery Building Land: School Farm, Friskney 70 acres Butterwick Ings, Boston 11.75 acres Boys School Lane, Butterwick Road, 9.16 acres Main Road, Benington 2.296 acres Doves Lane, Butterwick 2 acres Fishtoft (in total) 32.819 acres RAF outmarsh re: School Farm, Friskney TOTAL RENTAL INCOME RECEIVED |
2022 £ 8,400 5,060 - 32,11 820 - - - 5,242 25 51,65 |
2021 £ 8,40 5,52 3,10 0 32,50 820 - 413 - 7,64 25 |
|---|---|---|
| 58,42 |
The charity obtained vacant possession of School Farm House when the School Farm, Friskney tenancy was surrendered during 2015. Whilst the School Farm land was re-let, the charity retained the School Farm House and buildings separately.
During 2021 the charity sold School Farm Cottage and a barn.
2. TRUSTEES
No clerk expenses paid in 2022. During the year 2021 one of the trustees received £1,500 for acting as clerk.
No expenses were claimed by the Trustees (2021 – none).
3. FUNDS
All funds of the charity are unrestricted funds.
4. BROOKS MACDONALD INVESTMENT
By valuation at 21/03/2023 the investment had risen to £390,422 from £368,104 at 18/10/2022. A recovery of
£22,318.
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