Colonel William Llewellen Palmer Educational Chari
Annual Re
ort of the Trustee for the Year Ended 31 March 2022
Charity reglstratlon number:
1015681
Trustee Name:
Bradford on Avon Town Council
Bankers:
Lloyds Bank plc
Independent Examiners:
Charlton Baker Chartered Accountants
Address:
st Margarevs Hall, St Margaret's Street,
Bradford on Avon BA15 1 DE
Trustees, Annual Re
ort
Bradford on Avon Town Council is the sole trustee ofthe Charity and is required
by the Charity Commission to produce an annual report.
The Town Council, as the trustee of the Charity, has arranged for its day to day
administration to be delegated to town council officers.
The approval of annual reports on the activity of Ihe Charity and on investment
matters, together with any contentious policy issues, are dealt with by the Ful
Town Council, following advi and or recommendations from the advisory
panel.
Structure Governance & Mana
ement
The Charity was established from the sale of land at Sladesbrook, Bradford on
Avon, Willshire, for a price of £800,000. It was confirmed as operative by the
Charity Commission on 11 June 1992.
The land sold was part of an area of land that was the subject of a bequest to
Wiltshire County Council by Colonel William Llewellen Palmer in 1931. The
Charity retains ownership of the remaining land at a site one mile to the north
of the town centre, which constitutes a recreation ground and allotments.
In the spirit of Colonel Llewellen Palmer's original bequest, the Charity is for the
benefit of children and young persons up to the age of 25 attending, or who
have attended, schools in Bradford on Avon, and for the provision of
recreational facilities for the same age group in the town. The first call on the
income of the Charity, however, is the cost of maintaining the Charity's property.
Mana
ement of the Recreation Ground and Allotments
The allotments and recreation ground are administered and maintained by the
Town Council under a Service Level Agreement with the Charity.
Distribution of Awards to Beneficiaries
Any income of the Charity not applied to the maintenance of the Charity's
property and the cost of administration and management is available in the
following order of priority, as required by the Charitable Scheme=
In promoting the education of children and young persons attending
schools maintained by the local authority in Bradford on Avon.
In promoting Ihe education of children and young persons under the
age of 25 who have attended such schools or who are resident in
Bradford on Avon and who are in need of financial assistance.
iii. In or towards providing facilities in the interests of social welfare for
the recreation and other leisure-time occupation of children and
young persons under the age of 25 resident in Bradford on Avon with
the object of improving their conditions of life.
Applications are invited from individuals and organisations who wish to pursue
activities that will achieve the charities objectives. All applications are reviewed
by the trustee to ensure that the objectives are met.
Risk Mana
ement
The Trustee has considered the major risks to which the charity is exposed to
and created a risk register which is available on request. Systems have been
designed to mitigate those risks.
Ob'ectives and Activities
The objects of the charity (which are taken from the trust deed) are..
The land belonging to the Charity to be used as a recreation ground for
the benefit of the inhabitants of Bradford on Avon with the object of
improving Ihe conditions of life for the said inhabitants
Promoting the education of children and young persons attending
schools maintained by the Local Education Authority and Academy
status schools in Bradford on Avon.
In promoting the education of children and young persons under the age
of 25 who have attended such schools or who are resident in Bradford
on Avon and who are in need of financial assistance.
In or towards providing facilities in the interest of social welfare for the
recreation and other leisure time occupation of children and young
persons underlhe age of 25 resident in Bradford on Avon with the object
of improving their conditions of life.
The main activities of the Charity during the year have been the continuing
management of the grounds and allotments.
How our Activities Deliver Public Benefit
Briefly the aims of the Charity are to provide a recreation ground for the benefit
of the inhabitants of Bradford on Avon and to promote the education of children
and young persons (for full details see objectives above).
To fulfil these aims and its charitable purpose for public benefit:
The recreation ground continued to be maintained by the charity and
used by local inhabitants.
The allolments continue to be managed and made available to local
residents. A nominal rental charge of £0.50 per square metre per year
is requested per plot.
An investment strategy is in place to provide an adequate level of income to
make grants each year.
Letters of Thanks
The Charity is an invaluable source of funding forthe children and young people
of Bradford on Avon and the Council holds on file letters of thanks received
from many beneficiaries.
Statement
The Trustee has complied with the duty in section 4 of the Charities Act 2011
to have due regard to public benefit guidance published by the Charity
Commission.
Achievements & Performance
ments to Beneficiaries
In total during the year £68,414.95 was awarded to 8 applications, which
included a donation of £50k toward the provision of a skatepark in Bradford on
Avon. This is to provide a facility to improve the recreational options for the
town's young people, in line with the charity's objectives.
A summary of the approved awards is set out in Ihe notes to the financial
statements.
rovements & Maintenance
During the year, the Charity undertook maintenance tasks including playground
equipment repairs, as identified by inspection reports.
The general maintenance and administration tasks were undertaken within the
service level agreement, and included projects to improve ecological and
environmental impacts.1
Additional maintenance and inspection tasks were underiaken by contractors.
Financial Review
The financial position of the Charity for the year is shown in the financial
statements. Expenditure for the year totalled £99,595. Income was £64,011
and is mainly being derived from investments.
Investments held as of 31 March 2022 are detailed in the notes to the accounts,
these being valued at £2.094 million at that date. There was an increase of
£159k in the market value of the investments since last year. However, this is
reflected in the performance of the FTSE 100 and it's recovery after the initial
impact of the global pandemic.
Investments are held for the longer term and fluctuations do occur. The
investments are held to generate income for the ongoing costs of the charity,
and it is important to note the return on investments for 202112022 was £61,670
compared to £42,766 in 202012021.
Reserves Polic
The Charity is a permanent endowment trust whereby the income is used in the
furtherance of its objectives. U nrestricted. funds are needed..
to provide funds which can be designated to specific projects to enable
these projects to be undertaken at short notice., and
to cover administration and support costs without which the charity could
not function.
The Trustee therefore considers it prudent that unrestricted reserves should be
sufficient to cover one year's administration and support costs, including the
cost of maintaining the Charity's property.
The Trustee prepares a budget each year which determines the level of awards
to be made in that year based on forecast income. During the budget process
the level of reserves will be reviewed to ensure that the reserves policy is being
adhered to.
Inde
endent Examination
The Charity's accounts are maintained by the Town Council and are subject to
an external independent examiner for scrutiny.
other Information
Any comments on this report or on the activities of the Charity generally
should be addressed to the Colonel William Llewellen Palmer Educational
Charity, Bradford on Avon Town Council, St Margaret's Hall, St Margaret's
street, Bradford on Avon BA15 1 DE
ON BEHALF OF BRADFORD ONA VON TOWN COUNCIL ro THE
CHARITY
DATE
## **Colonel William Llewellen Palmer Educational Charity**
## **Financial Statements**
**Year Ended 31 March 2022**
**Charity No 1015681**
**Colonel William Llewellen Palmer Educational Charity Charity No 1015681**
## **Receipts & Payments Accounts for the financial year ended 31 March 2022**
|**Unrestricted Funds**
Note
**Receipts**
Investment Income
Allotment Income
Deposits on Allotments
Allotment Deposit Surrendered
Total Receipts
**Payments**
Payment to Beneficiaries
2
Playing Field Site Contract
Playing Field Improvements
Grounds Maintenance
Independent Examination Fee
BOATC SLA
3
Refund of Allotment Deposits
Bank Charges
Insurances
Legal Fees
Total Payments
**Net of Receipts/(Payments)**
**Transfer between accounts**
**Cash Funds Last Year End**
**Cash Funds This Year End**|**2021/22**
**£**
61,670
2,092
-50
300
64,011
68,415
919
6,477
485
435
21,500
209
1,155
0
99,595
-35,584
107,067
71,483|**2020/21**
**£**
42,766
2,759
300
300|
|---|---|---|
|||46,125|
|||17,405
1,429
350
700
435
19,500
300
129
1,147
0|
|||41,394|
|||4,730
102,337|
|||107,067|
**Colonel William Llewellen Palmer Educational Charity Charity No 1015681**
## **Statement of Assets & Liabilities As at year ended 31 March 2022**
|**Assets**
Note
**Cash Funds**
Lloyds Bank (BOATC 58630668)
**Investment Assets**
Fund to
which it
belongs
**Investments**
5
130.386.102 Charishare Income (Black Rock)
Endowment
196.131.9954 SUTL Cazenove Charity Equity Value F Endowment
202.698.79 COIF Charities Fixed Interest Income
Endowment
**Property**
4
3.4 Acre Recreation Ground
3.1 Acre Allotments
**Debtors**
VAT
**Liabilities**
Allotment Deposits
Independent Examiners Fee
Invoices dated 31 March 2022 or earlier|**2021/22**
**Unrestricted**
**Funds**
**£**
76,573
76,573
**2021/22**
**Market Value**
**£**
934,004
878,671
253,191
1
28,750
2,094,617
4,414
2,099,031
**£**
2,150
500
0
2,650|**2020/21**
**Unrestricted**
**Funds**
**£**
114,365|
|---|---|---|
|||114,365
**2020/21**
**Market Value**
**£**
867,328
767,072
272,387
1
28,750|
|||1,935,538
2,710|
|||1,938,248|
|||**£**
2,500
500
0|
|||3,000|
**Colonel William Llewellen Palmer Educational Charity Charity No 1015681**
## **Notes to the Financial Statements**
## **for the financial year ended 31 March 2022**
- 1 These accounts have been prepared on a receipts and payments basis, using standard accounting principles as recommended in the Statement of Recommended Practice by the Chairites Commission.
|2
Payments to beneficiaries include:
£
Individuals
Groups
**TOTAL GRANTS GIVEN IN 2021/22**|£
1,355
67,060|
|---|---|
||68,415|
- 3 Bradford on Avon Town Council as the Trustee, has entered into a Service Level Agreement with the Charity to provide all management, administrative, accountancy and operational tasks. The value of this has increased from the previous year to account for the operational function taken by the council outside of the idverde contract.
The playing field site contract is with idverde. There are no employees.
- 4 The charity owns a recreation ground of 3.4 acres and 61 allotments covering 3.1 acres at Sladesbrook and Bancroft, Bradford on Avon.
- An independent valuation was made by GVA of Bristol as at 31 March 2014, where the recreation ground was valued at £1 and the allotments at £28750.
**Colonel William Llewellen Palmer Educational Charity Charity No 1015681**
## **Notes to the Financial Statements for the financial year ended 31 March 2022**
|5
Details of Investments held as at 31 March 2022
130.386.102 BLK Charities UK Equity Fund A Inc
(Formerly, Charishare Common Investment Fund Inc Shares)
196.131.9954 SUTL Cazenove Charity Equity Value Fund A
202.698.79 COIF Fixed Interest Fund Income Shares
Total
Valuation Source: BlackRock, Schroders & CCLA
6
Movements in Investments in year
Cost as at 1 April 2021
Add Purchases
Less Sales at Cost
Cost as at 31 March 2022
Value as at 1 April 2021
Add Purchases
Add Net Unrealised Profit/(Loss)
Value as at 31 March 2022|**Book**
**Cost**
**£**
428,464
410,465
273,643
1,112,572
**Book**
**Cost**
**£**
1,112,572
0
0
1,112,572
**Market**
**Value**
**£**
1,906,787
0
159,079
2,065,866|**Market**
**Value**
**£**
934,004
878,671
253,191|
|---|---|---|
|||2,065,866|
||||
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF COLONEL WILLIAM
LLEWELLEN PALMER EDUCATIONAL CHARrtY
I report on the a¢¢ounts of th8 Charity for the year ended 31¥t March 2022, which have been
presented to me.
Re8pectlv• rnsponsibilities of trustoe and oxamlner
As the charty's trustee you are responslble for the preparation of Ihe accounts. The charitys
Iruslee considers that an audit is not required for this year under Section 144 of the Charities
Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to..
Examine the accounts under seclSon 145 of the 2011 Act".
To follow the procedures laid down In the general Direclior)s given by the Charity
Commission Under section 145(S)Ibl of the 2011 Act,. and
To stale whether parb'cular matters have come io my attention.
Basls of Independent examlner's r•port
My examination was carried oul In accordanc8 with the general Directions given by the
Charity Commission. An examinallon Includes a review of the ac¢ounting records kept ty the
charity and a comparison of the accounts presented wlh those records. It also includes
consideratn of any unusual ilems or disclosures in the a¢¢ounts. and se9king explanations
from you as trustee concerning any such matters. The procedures undertaken do nol provide
all the eVence that would be required in an auéil and consequently no opinion is given as to
whether the accounts present a 'true and fair view and the report is limited lo those matters
set out in the statement below.
Independent examlngrfs ststsment
In connectn with my examination, no matter has come to my attention:
11) which gives me reasonab18 cause to believe that in any material respect the
requirement5:
lo keep accounting records in accordance wth $tIon 130 of the 2011 Act,.
and
to prepare accounts which accord with the accounting Tecord$ and comply
th the accounting requirements of the 2011 Act
have not been met.. or
{2} to which, in my opinion. attention should be drawn in order lo enable a proper
understanding of the accounts to be reached.
Mr Luke Rudman
Charfton Baker {Trowbridge) Llmited
Chartered Accountants
The Courtyard
33 Duke Street
Trowbridge
Willshire BA14 8EA
Date.. 22 02.2023