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REGISTERED COMPANY NUMBER: 00434045 (England and Wales)

REGISTERED CHARITY NUMBER: 1089667















REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

FOR


FRECKLETON CHARITABLE TRUST LIMITED



FRECKLETON CHARITABLE TRUST LIMITED



CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 5 April 2023












Page




Report of the Trustees  

1


to


2



Independent Examiner's Report  

3




Statement of Financial Activities  

4




Balance Sheet  

5


to


6



Notes to the Financial Statements  

7


to


11


FRECKLETON CHARITABLE TRUST LIMITED (REGISTERED NUMBER: 00434045)



REPORT OF THE TRUSTEES

for the Year Ended 5 April 2023




The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 5 April 2023. The trustees have adopted the provisions of 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 2019).


OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objectives are to promote the benefit of the inhabitants of Freckleton by the advancement of education and the provision of facilities in the interest of social welfare for recreation and other leisure time occupations.

Significant activities

The charity achieves its' objectives by offering grants and donations to local charitable organisations.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policy for the year.

Grantmaking

Grants are usually awarded annually. Applications for grants are invited from local community groups and the intention is that grants should be for one off purposes rather than as an annual source of income for groups. One exception to this general rule is the maintenance of the children's grave in the churchyard.

The requests are considered by the trustees, who give preference to youth, the village hall and other village organisations.

FINANCIAL REVIEW

Financial position

The income received during the year from investments was £6,397 (2022 - £5,263). A total of £4,276 (2022 - £326) was awarded in grants during the year. After deducting support costs of £1,499 (2022 - £2,535), the surplus of funds retained for the future was £622 (2022 - £2,402).


Reserves policy

It is the policy of the trustees to maintain a cash reserve sufficient to meet two years worth of grants.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a limited company, limited by guarantee, as defined by the Companies Act 2006.


It was originally incorporated on 28th April 1947 and registered as a charity on 5th December 2001. The company was established under a Memorandum and Articles of Association which were amended by special resolutions in 1950, 1951, 2000 and 2001. These documents established the objectives and powers of the charitable company.


Recruitment and appointment of new trustees

The directors of the company are also trustees for the purposes of charity law. They are elected by existing members for a period of 3 years and may offer themselves for re-election.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00434045 (England and Wales)


Registered Charity number

1089667



FRECKLETON CHARITABLE TRUST LIMITED (REGISTERED NUMBER: 00434045)



REPORT OF THE TRUSTEES

for the Year Ended 5 April 2023



Registered office

Longroots Lower Lane

Freckleton

Preston

Lancashire

PR4 1HH


Trustees

Mrs S Dutton (appointed 12.10.22)

Ms C J King (appointed 12.10.22)

Mr T Threlfall

Mrs E J Willis

Rev. S N Heath

Mr D Fare

Mr B J Whittle

Mr T J Fiddler

Mr K W Snibson

Mr P N Outhwaite

Mrs J Courtney-Whiteside

Mrs P A Knight

Mrs L Wareing


Company Secretary

Mr D Fare


Independent Examiner

James Todd & Co

Greenbank House

141 Adelphi Street

Preston

Lancashire

PR1 7BH


Approved by order of the board of trustees on 11 October 2023 and signed on its behalf by:






Mrs P A Knight - Trustee


INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

FRECKLETON CHARITABLE TRUST LIMITED



Independent examiner's report to the trustees of Freckleton Charitable Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2023.


Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').


Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.


Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:


1.

accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.

the accounts do not accord with those records; or

3.

the accounts do not comply with the accounting 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 part of an independent examination; or

4.

the accounts 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 102)).


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.









J T Howarth MBA, FCCA

The Association of Chartered Certified Accountants


James Todd & Co

Greenbank House

141 Adelphi Street

Preston

Lancashire

PR1 7BH


19 October 2023



FRECKLETON CHARITABLE TRUST LIMITED



STATEMENT OF FINANCIAL ACTIVITIES

for the Year Ended 5 April 2023



2023


2022


Unrestricted


Restricted


Total


Total


fund


fund


funds


funds


Notes

£   

£   

£   

£   


INCOME AND ENDOWMENTS FROM


Investment income

2

6,397


-


6,397


5,263



EXPENDITURE ON

Raising funds

3

860


-


860


650



Charitable activities

Community grants

4,276


-


4,276


326



Other

639


-


639


1,885


Total

5,775


-


5,775


2,861



Net gains/(losses) on investments

(9,377

)

-


(9,377

)

2,551



NET INCOME/(EXPENDITURE)

(8,755

)

-


(8,755

)

4,953




RECONCILIATION OF FUNDS

Total funds brought forward

125,266


15


125,281


120,328



TOTAL FUNDS CARRIED FORWARD

116,511


15


116,526


125,281



FRECKLETON CHARITABLE TRUST LIMITED (REGISTERED NUMBER: 00434045)



BALANCE SHEET

5 April 2023



2023


2022


Unrestricted


Restricted


Total


Total


fund


fund


funds


funds


Notes

£   

£   

£   

£   


FIXED ASSETS


Investments

6

103,402


-


103,402


112,779



CURRENT ASSETS


Cash at bank

13,709


15


13,724


12,934



CREDITORS


Amounts falling due within one year

7

(600

)

-


(600

)

(432

)


NET CURRENT ASSETS

13,109


15


13,124


12,502



TOTAL ASSETS LESS CURRENT

LIABILITIES

116,511


15


116,526


125,281



NET ASSETS

116,511


15


116,526


125,281


FUNDS

8

Unrestricted funds

116,511


125,266


Restricted funds

15


15


TOTAL FUNDS

116,526


125,281



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


FRECKLETON CHARITABLE TRUST LIMITED (REGISTERED NUMBER: 00434045)



BALANCE SHEET - continued

5 April 2023


These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime.




The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2023 and were signed on its behalf by:






Mrs P A Knight - Trustee



FRECKLETON CHARITABLE TRUST LIMITED



NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 5 April 2023



1.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.



Expenditure


Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.



Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.



Taxation

The charity is exempt from corporation tax on its charitable activities.


Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.

INVESTMENT INCOME


2023


2022

£   

£   



Other  fixed asset inv - UnFII

6,392


4,574




Deposit account interest

5


689



6,397


5,263






FRECKLETON CHARITABLE TRUST LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 5 April 2023



3.

RAISING FUNDS



Investment management costs


2023


2022

£   

£   



Support costs

860


650




4.

TRUSTEES' REMUNERATION AND BENEFITS


There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.



Trustees' expenses


There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.


5.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


Restricted


Total


fund


fund


funds

£   

£   

£   



INCOME AND ENDOWMENTS FROM



Investment income

5,263


-


5,263




EXPENDITURE ON


Raising funds

650


-


650




Charitable activities


Community grants

326


-


326




Other

1,885


-


1,885



Total

2,861


-


2,861




Net gains on investments

2,551


-


2,551




NET INCOME

4,953


-


4,953





RECONCILIATION OF FUNDS


Total funds brought forward

120,313


15


120,328




TOTAL FUNDS CARRIED FORWARD

125,266


15


125,281





FRECKLETON CHARITABLE TRUST LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 5 April 2023



6.

FIXED ASSET INVESTMENTS


Listed


investments

£   



MARKET VALUE


At 6 April 2022

112,779




Revaluations

(9,377

)



At 5 April 2023

103,402




NET BOOK VALUE


At 5 April 2023

103,402




At 5 April 2022

112,779





There were no investment assets outside the UK.



Cost or valuation at 5 April 2023 is represented by:



Listed


investments

£   



Valuation in 2021

14,456




Valuation in 2022

6,781




Valuation in 2023

(9,377

)



Cost

91,542



103,402





If fixed asset investments had not been revalued they would have been included at the following historical cost:


2023

2022


£   

£   



Cost

91,542


91,542





Fixed asset investments were valued on a market value basis on 31 March 2023 by Canaccord Genuity Wealth Limited  .




FRECKLETON CHARITABLE TRUST LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 5 April 2023



7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022


£   

£   



Accrued expenses

600


432




8.

MOVEMENT IN FUNDS


Net




movement


At



At 6.4.22


in funds


5.4.23


£   

£   

£   



Unrestricted funds


General fund

125,266


(8,755

)

116,511





Restricted funds


Designated members fund

15


-


15





TOTAL FUNDS

125,281


(8,755

)

116,526





Net movement in funds, included in the above are as follows:



Incoming


Resources


Gains and


Movement



resources


expended


losses


in funds


£   

£   

£   

£   



Unrestricted funds


General fund

6,397


(5,775

)

(9,377

)

(8,755

)




TOTAL FUNDS

6,397


(5,775

)

(9,377

)

(8,755

)





Comparatives for movement in funds



Net




movement


At



At 6.4.21


in funds


5.4.22


£   

£   

£   



Unrestricted funds


General fund

120,313


4,953


125,266





Restricted funds


Designated members fund

15


-


15





TOTAL FUNDS

120,328


4,953


125,281





FRECKLETON CHARITABLE TRUST LIMITED



NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 5 April 2023



8.

MOVEMENT IN FUNDS - continued



Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Gains and


Movement



resources


expended


losses


in funds


£   

£   

£   

£   



Unrestricted funds


General fund

5,263


(2,861

)

2,551


4,953





TOTAL FUNDS

5,263


(2,861

)

2,551


4,953





A current year 12 months and prior year 12 months combined position is as follows:



Net




movement


At



At 6.4.21


in funds


5.4.23


£   

£   

£   



Unrestricted funds


General fund

120,313


(3,802

)

116,511





Restricted funds


Designated members fund

15


-


15





TOTAL FUNDS

120,328


(3,802

)

116,526





A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:



Incoming


Resources


Gains and


Movement



resources


expended


losses


in funds


£   

£   

£   

£   



Unrestricted funds


General fund

11,660


(8,636

)

(6,826

)

(3,802

)




TOTAL FUNDS

11,660


(8,636

)

(6,826

)

(3,802

)



9.

RELATED PARTY DISCLOSURES



There were no related party transactions for the year ended 5 April 2023.