| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| PORINGLAND FUEL ALLOTMENT |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| PORINGLAND FUEL ALLOTMENT |
| PORINGLAND FUEL ALLOTMENT |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 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 | 13 |
| PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014) |
| Report of the Trustees |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 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 31 March 2025. 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 was established by Trust Deed in 1805. The objective for which the Charity was established is the relieving of need, hardship or distress of the residents of the parish of Poringland, Norfolk. In May 1996 the objectives were widened with Charity Commission approval to encompass the application of funds not required for the above for the general benefit of the residents of the parish. |
| On 1 December 2020 the funds of the original charity (Charity Number 246265) were transferred to this charitable company. The charitable company's objects are now defined as: |
| For the benefit of those living in the parish of Poringland by the provision of grants to further the following purposes:- |
| - the relief of poverty, in particular by the provision of winter fuel payments to those in need |
| - such charitable purposes for the public benefit as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine. |
| Significant activities and public benefit |
| Income will be distributed to those living in the parish of Poringland who are in need through hardship or distress. This will include:- |
| - winter fuel payments to those in need |
| - social grants to those in hardship or distress |
| - grants to students to support the cost of their further educational needs |
| - grants to community organisations for projects which provide sports, leisure, educational or related facilities primarily benefitting Poringland residents. |
| Financial review |
| The Statement of Financial Activities covering the period from 1 April 2024 to 31 March 2025 is set out on page four. A £7,310 unrealised loss on investments has been charged to the Capital Fund. The Trustees are confident that investments should, in the long term, yield both a satisfactory level of income and capital appreciation. The Capital Fund is retained to generate income into the future in order to fulfil the objectives of the Charity. During the period the Charity received investment income amounting to £33,190 and expended £22,813 on grants to individuals and grants of £2,750 to to other bodies. Charitable support costs amounted to £7,247. This resulted in net incoming resources into the General Fund of £381. Therefore total outgoing resources totalled £6,929 and, consequently, at 31 March 2025, total funds stood at £696,018. Of this, £23,093 is held in the unrestricted general fund. |
| Property and investments |
| The Charity retains 12.818 acres of grazing land which has been included at market value of £50,000 and a residential property included at valuation of £200,000. At 31 March 2025 the Charity held cash reserves of £30,897. Investments with Fidelity Management had a market value at 31 March 2025 of £415,615, experiencing an unrealised loss of £7,310 over the value at 1 April 2024. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014) |
| Report of the Trustees |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Organisational structure |
| The Trust Deed stipulates that there shall be not fewer than three directors. All directors must contribute to the day to day running of the Charity. |
| Reserves policy |
| The Trustees have decided to aim to hold unrestricted reserves sufficient to meet up to one year of charitable expenditure. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| Registered office |
| Trustees |
| Independent Examiner |
| Quinneys |
| Chartered Certified Accountants |
| Saxon House |
| Hellesdon Park Road |
| Norwich |
| Norfolk |
| NR6 5DR |
| Advisers |
| Alan Boswell & Company Ltd |
| Prospect House |
| Rouen Road |
| Norwich NR1 1RE |
| Approved by order of the board of trustees on |
| Independent Examiner's Report to the Trustees of |
| Poringland Fuel Allotment |
| Independent examiner's report to the trustees of Poringland Fuel Allotment ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. |
| 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. |
| M Lamb |
| Quinneys |
| Chartered Certified Accountants |
| Saxon House |
| Hellesdon Park Road |
| Norwich |
| Norfolk |
| NR6 5DR |
| 9 June 2025 |
| PORINGLAND FUEL ALLOTMENT |
| Statement of Financial Activities |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2025 | 2024 |
| Unrestricted | Endowment | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Other trading activities | 2 |
| Investment income | 3 |
| Total |
| EXPENDITURE ON |
| Raising funds | 4 |
| Charitable activities |
| Total |
| Net gains/(losses) on investments | ( |
) | ( |
) |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 702,947 |
| PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014) |
| Balance Sheet |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Unrestricted | Endowment | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments |
| Investments | 8 |
| Investment property | 9 |
| CURRENT ASSETS |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 12 |
| Unrestricted funds | 30,022 |
| Endowment funds | 672,925 |
| TOTAL FUNDS | 702,947 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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. |
| PORINGLAND FUEL ALLOTMENT (REGISTERED NUMBER: 11674014) |
| Balance Sheet - continued |
| 31 MARCH 2025 |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 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. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. |
| 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. |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | OTHER TRADING ACTIVITIES |
| 2025 | 2024 |
| £ | £ |
| Bank compensation | - | 125 |
| 3. | INVESTMENT INCOME |
| 2025 | 2024 |
| £ | £ |
| Rents received |
| Grazing land rent | 1,138 | 1,138 |
| Fixed term interest | 894 | 681 |
| Dividends | 21,559 | 20,683 |
| 4. | RAISING FUNDS |
| Raising donations and legacies |
| 2025 | 2024 |
| £ | £ |
| Support costs |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| 6. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 2025 | 2024 |
| Trustees |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Endowment | Total |
| fund | fund | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Other trading activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Total |
| Net gains on investments |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 29,622 | 651,348 |
| TOTAL FUNDS CARRIED FORWARD | 30,022 | 672,925 | 702,947 |
| 8. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| MARKET VALUE |
| At 1 April 2024 |
| Revaluations | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 | 415,615 |
| At 31 March 2024 | 422,925 |
| There were no investment assets outside the UK. |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 8. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 31 March 2025 is represented by: |
| Unlisted |
| investments |
| £ |
| Valuation in 2023 | (29,131 | ) |
| Valuation in 2024 | 21,577 |
| Valuation in 2025 | (7,310 | ) |
| Cost | 430,479 |
| 415,615 |
| 9. | INVESTMENT PROPERTY |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| and 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2022 | 34,138 |
| Valuation in 2023 | 22,249 |
| Cost | 193,613 |
| 250,000 |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Accrued expenses |
| 12. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.4.24 | in funds | 31.3.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 30,022 | 381 | 30,403 |
| Endowment funds |
| Permanent Endowment fund | 672,925 | (7,310 | ) | 665,615 |
| TOTAL FUNDS | (6,929 | ) | 696,018 |
| 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 | 33,191 | (32,810 | ) | - | 381 |
| Endowment funds |
| Permanent Endowment fund | - | - | (7,310 | ) | (7,310 | ) |
| TOTAL FUNDS | ( |
) | ( |
) | (6,929 | ) |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.23 | in funds | 31.3.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 29,622 | 400 | 30,022 |
| Endowment funds |
| Permanent Endowment fund | 651,348 | 21,577 | 672,925 |
| TOTAL FUNDS | 680,970 | 21,977 | 702,947 |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 12. | 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 | 31,867 | (31,467 | ) | - | 400 |
| Endowment funds |
| Permanent Endowment fund | - | - | 21,577 | 21,577 |
| TOTAL FUNDS | 31,867 | (31,467 | ) | 21,577 | 21,977 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.4.23 | in funds | 31.3.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 29,622 | 781 | 30,403 |
| Endowment funds |
| Permanent Endowment fund | 651,348 | 14,267 | 665,615 |
| TOTAL FUNDS | 680,970 | 15,048 | 696,018 |
| 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 | 65,058 | (64,277 | ) | - | 781 |
| Endowment funds |
| Permanent Endowment fund | - | - | 14,267 | 14,267 |
| TOTAL FUNDS | 65,058 | (64,277 | ) | 14,267 | 15,048 |
| PORINGLAND FUEL ALLOTMENT |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 13. | RELATED PARTY DISCLOSURES |