Charity registration number 11M0076 Company reglstration number 2873432 (England and Walesl THE MURRAY DOWNLAND TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE MURRAY DOWNLAND TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees GCRyanKCMA 'mon Ward FRICS Claire NaMod Bsc FCA CTA J G Murray CDA CDFM Mike EardS Bsc FRES Nicholas SheVIn MA LLM Solic41or M Hadey Rjrt Wndle FRICS FAAV Alce Pathtt BSqHons) Secretary Claire N0Tr4tiod Bsc FCA CTA Charity number 1040076 Company numbèr 2873432 Prfneipal addroS8 H•yshott Fam)hoLJse Leggs Lan8 Heyshott Midhurst West Sussex GU29 ODJ Reglstefed office Piper HLW5e 4 Dukes Cwrt West Sussex Chichester P019 8FX Indep¢nd¢nt ¢Xominer Alain Mardle FCA Greens Cowt Vst Street Midhurst West Sussex GU29 9NQ Bankers Lloyds TSB Bank pk 5 The Square Peler5field Hampshire GU32 3HL
THE MURRAY DOWNLAND TRUST CONTENTS Trustees, report Independent examin8fs rewt Statement of financ4al activiiles Balance sheet Notes to the accounts 6-13
THE MURRAY DOWNLAND TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Tnjstees present their annual report financial statements for the year end8d 31 Mch 2024. The accounts have been prEpared in accorda( with the OL.n9 policies set out in rK)te 1 to the accounts aiKI winply wilh the Iru5l's goverrTrJ d0men[ the Companies Act 2LK6 arFJ "Ao{ln"r& Reporting by Charibes: Ststement of Rwnmended Practice applicable to ¢harrlies preparing thwr aCCortS in accordan¢¢ with the Financial Reporbng Standd applicle in the UK arKI Rewblic of Ireld {FRS 102) {effectrve 1 January 2015)" Objectives and aciivlt5 See Chairnan's Repthl and feseNe repts. The Trustees have paid due regard to gJKJance issued by th6 Charity C¢)mmissiL Fn dec4d'tr¥J what activities the Company shouhj undertake. A¢hi•v•m¢nts and pèrforniance See reserve rewrts. FlnanGlal revleY• See Treasurels RewrL It is Ihe policy of the cofflwy that unreslricled funds held in the cuent bank accoLmt which hav8 not been designated for a specffic use shryJld maintained * a level eqvalent to between six and Iw8lve month's expénditure. The Trustees COnder that reserves at th"s level wl enswe Iha( in the event of a sigrmficant (trop in funding. they WIH be e to continue the Compan$ current activi"es vthile consTrderaticn is siven to ways in whtth additional lunds may be raised. Investments are retained at such a lever lo generate sufficient ircome io aHow activities to be maintsined. Th"s level of reseives has been maintsined tlroughtyJt Ihe year. The directors have assessed the m4or risks to thich the company is exposed. and are satIsd that systems are in place to mitigate exFKJwre to the major nsks. Structure. governanc• and management The trust is a cnpanY limited by guantee (no. 2873432) incorporated on 19 November 1993 is a registered charity (no. 104CQ76). The twsfs obiects a the preservation. prOtlOn. devpment and improvement of land of sp&tfic interest or natural beauty. The Irust athieves ts cty'ects with the he of vdunteers and paid contractor5 as necessary. The Truslees. who are 0150 th rfiredors for wrpose of company law. and served thKing the year and up to the date of s19rlUre of the financial slatements were: GCRyanKCMA Simon Ward FRICS Claire NOp•v0 Bsc FCA CTA J G Murray CDA CDFM Mike Eolvards Bsc FRES Nicholas Shewn MA LU41 S(4icitc M Hadley Rtjbert Wndle FRICS FAAV Alice Parfrtt BSc(Hons) None of tha Tfustees has any benefia" intt in th& company. Al of the Trustèes arè members of the company arKJ guarantee to )n.1J¢e £1 in Ihe event of a wnding up.
THE MURRAY DOWNLAND TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The charity is administered by a toard of 9 directLYsftrustees who meet approximatety 8 b.mes a year including govemance meetings and stte visf(s. Under the MemorandLKn and Arbde5 ofAssouation, the chartty has the p0r lo make any investments 1th the trustees see fiL The Trustees, report wa5 awoved by the Board of Trustees. Nl¢holas Sherwln MA LLM Solldtor Truste bZ4-
THE MURRAY DOWNLAND TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MURRAY DOWNLAND TRUST I report on the financial slatements of Ihe CpanY for the year ènded 31 Mwch 2024. Vtich are set out on ptyes 4 to 13. Respeaive responslbllltles ol Trus and examlner The wmpany's Trustees. who are also the directors of The Murray DOland Tntst for the wrposes of company law, are rèsponsible for the preparion of the financaal statements. The Trustees consider that an audit is not required this year undw seclion 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examinats.on is needed. Having satisfied mysev that the charity is Th)t subject to audit under cc¥npany law arKI is eligib for independent examinats"on, it Is my responbIllty to.. examine the financial statements undw sectton 145 of the 2011 Act lil) tD follow the procedures laid in the general EJrecIiS given by the Charity Cc¥nmisston undgr secllon 145151(bl of the 2011 ACL and (iii) to state whether particular mattws have ccffle to my attention. Basis of independent examinees report My ex¢knTIiVldtion was cdtried out in the Direction5 given by the Charity CommIssl. An examinion indLtrJes a r8view of the ac£ounling rerS kept by the charbty and a comparison of the finanaal $eMentS presented wth those records. It 0 irKludes cMsthrats"on of any unusual items or discbSUr in the financial statements, $88king ext4anations from y(hJ as trustees ¢cKKeming any such matters. Th8 procedLKes undertaken do not provide all 1h8 evKlence that would be required in an audit and consequently rK¢ ow'nion is given as to whether the finamal ststements weserrt a 'true ar¥J fair ¥ie•K and the report is limited to those matters sel out in the next statement Independent examiners statement In connects'on my èxamination. no matter has come lo my attention.. (a) which gives me reasonable cause to believe that in any matenal respect the rewirements.. (i) to keep accrAntin9 recofds in accor¢6 with section 386 of the Companies Act 20C6" and (li) lo prepare financial st8lements lch accoftl the &counts"ng feccKds, wnply with fv accounting requirements of saction 396 of Ihe Comp4eS Act and wth the wfttFds and pll"nas of the Statement of Recommended Prachce.. Accountng and Reporting by Charitses.. have not been met or {bl to which. in ffly opinion. attention shoiAd ctr44n in order to enat4e a proper under5tan(thng of the financial statements to tx reached. Alain Marde FCA Chartered Accountant Greens Court West Street Midhursl West Su55ex GU29 9NQ Dated.. 2<.1a.l
THE MURRAY DOWNLAND TRUST STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDfTURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds fvnd5 Total 2024 Total 2023 Notes Come from: Donatians and legacres Charrtable activities Investments 2.882 8.291 13,116 206,862 8,291 13.116 8.379 9,7PJJ 11,318 Total in¢ome 228.269 228,269 29.457 nditure on: Charit*Jl8 a¢tNities 17.285 17.285 35,452 Total resources expended 17.285 17.285 35.452 Nel (losses}Igains Nwe5trnents 10 (2.32n (2.32n (15,6571 Net movement In funds 208,6S7 208,657 {21.652) Fund balances al 1 April 2023 249.733 14.789 264.522 286.174 Fund balances at 31 March 2024 458,390 14.789 473.179 264.522 The slatement of finan14 activities also comOes with the requirem&)ts for an incJ)me ar#J expendire account under the Companies Act 2LK6.
THE MURRAY DOWNLAND TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 12 13 110.759 239.253 241,5 350.012 241.580 Current assèts Debtors Cash at bank in hand 14 119.168 124.168 29.5LX) Creditor4: amounts falling due within one year 15 1.001 Net rjjrrent assets 123,187 22,942 Total assets less current ablltieS 473, 179 264.522 The funds of the Company Restricted income funds UnstrICted fvnds 16 14,789 458.390 14.789 249,733 473.179 264.522 The eompany 1$ entitled to the exemptson fr(xn the atyjit requirem&tt contained in secti1 477 of ts Companies Act 20c, for Ihe year ended 31 M*ch 2024. The directws acknedge their respOnslI1bes foi complyiThJ wth the requrements of the cPanieS 20C6 th respecl to accounting rgwrd$ arml tho preparaticfi of finartÈal statement$. The members have not requiied the ¢anP to obtain audit of its financial statements for the year in questi in accordance wifh section 478. These financial StatentS have been wepared in acCOrdte 1th the provisi5 applicable to companie5 subj.ect to the small companies rewe. The finan s..1 Iz.L... statements were apprDved by the Trustees ..... . ... Claire Norwotsy Bsc FCA CTA Trustee CoMpY registration numb8f 2873432 (England WKI Wales)
THE MURRAY I)OWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Cofflpany infomiation The Murray Dt)wnlanO Trust is a pnvale company limiied by guarantee incwrated In England and Wales. The registered office is Piper House, 4 Dukes CoLNt. Bognor Road, West Sussex, Chichestw, P019 8FX. 1.1 Accountin9 Convention The accounts have been prepared in accordancè with the CA]mpan$ goveming docLmen( tho Comwi&s Act 20C and "Accounting and Reporting by Charrties". Statement of Recommen¢kd Practice applicatle lo chanbès preparing th"r accounts in accordance with the Financial ReporliThJ Starthrd applicable in the UK and Republic of Ireland {FRS 102}" (as amended accounting Fer't¢)ds commencing frc¥n 1 January 2019). The company is a PuLgic Benefit Enty as defined by FRS 102. The company has taken advantage of Ihe provisions in the SORP for ttwitses ffjptying FRS 102 Update Jmetsn 1 not to prepare a Stslement of Cash Fkwts. The financial stalemenls have departed from Charities (Accounts Reports) Regulabons 2008 to the extent required to PfovidÈ a Ime and fair vi•v. This doparture has involved followin9 Ststèmenl of Recommertded Practice for tharities aFptying FRS 102 rather than the version of the Statement of Recommended PractTh tich is refeffed to in the Regul'ons vthich has since been wrthdrawn. The fina181 ststements are prepared in sterling. which is the fUnCtn currency of ts company. Monetsry amount5 in these financial statents are red to the nearest L The financial statements have béen FKep&ed under the historica cost convention. modified to indude the revaluats.on of freehokl prope.e$ and to InLe inveslment prop&ies and rtain finanoal instruments at fair value. The pnn(3pal accowt'ng &mrCieS adopted are set Ixrt bekmt. 1.2 Going concern At the time of approving the financial statements. the Trustees have a reasonabfe expectation that thè company has adeque resources to C¢)ntinue in Operati(al éxtstence for the foreseeable luture. Thus Ihe Trustees continL lo adopt the g(Mng ccttem basis of accourfing in preparng the finanual statemenls. 1.3 Charitable lunds Unrestricted funds are avalatle for use at the discrets.on of the Tnjstees in fir1her of theÉr thrtable objoctrves. Restried are sutiiect to specific Cd[tionS by th)rr$ or grantots as to h¢yW they may be used. Tr purwses and uses of the rèstricted are set out in the notes to the firwiaal statements. Endrnérrt suw to speofK cmdtions by donors that the cam4 must be mnlaird by tha company. 1.4 Incoffllng resources Income is recognised vknen Ihe company is leglly enlitled to it after any pwbrnance have beon met. the aMOts can be mèasured r•liably. and it 1$ t1 that income wil be recoived. Cash donab'ons are recogTrsed on receipt. Cther donations are rwnised once the company has been nolrfied of the donatK)n. unless performance conditions rew1 deferral of the amourt Income lax r8coverable in relation to donalions received der Grft Aid or deed$ of covenart is recognised at the date of r•ceipL Legacies are recognised on recpt or otherwise if the company has been rK)tffied of an impendiryj distribution. the amourrt is kThMn. arKI receipt is expected. If the amount is not kntr, the logacy is treated as a contingont asset
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continuod) Tumover is measwed at the fair value of the considerats"¢)n reiVed or receivle and represents amounts receivatHe for go$ aThJ services VOVKJed in the rThmal coutse of business. net of discounts, VAT and other sales related taxes. 1.5 Resources oxpended abilities are recognised on accruas basis. Chantable expendilure indudes those expenses direclly related to tharitable activities and indud&s ralated supwrt $ts. 1.6 Tangib fixed assets Tangille fixed assets are inrtialty measured at cost and subsequenyy measured at cost or valuati(x). net of depreciation and any iFr4>aiment losses. Depreciation 1$ recogni5ed so as to write off the mst or valuation of assets less their resrflual values over their useful lives on the folloM'r¥J bases." LarKI and buildings Equipment No depreciation 20% Strarght line The gain or loss arising on the th'sposal of asset is determined as the dfference betsft the sale pmceeds and the carrytng vahje ofthe asset and 15 recognised in the statement cl finarrial acb"vitses. 1.7 Flxed asset investments Fixed asset investrnents we inrfialy measured at trSl0n price 8Xd1 transacticn costs. and are subsequeniiy measured at fair vahJe at each reporb.ng date. Changes in fair value are recognised in net Irome1{¢xpènd1IUre) for the year. TnSaCtIon costs are expensed as inKred. 1.8 Impaimient of flxed assets At eath reporting end dale. the company reviews the caryirrfJ amounts of its tangl9 and intavyjible assets to determine whethef there is any indicatron that those a55ets have suffered an impairment loss. If suGh indication exists. the recoverable amount of the asset is estimated in order to delemiine the extent of the impaim)ent loss {rf any). Recovera)le amount is Ihe tmgher ol far Val less costs to sep arKI value in use. In aSseslj value in use, the estsmated future cash kn are discLiunted to theif present value using a FK&tax disc(x1 rate that reflects current rnarkel a•S$MentS of the ttme value of money aThJ ts risks specific to the asset for vhwch the estimates of fLrture cash ff()Ns have r)Dt been adjusted. If the recoveraNe aMOt of asset 15 estimated to be less its carrying amount, the c¥rying amount of the assel is rethced to rts recoverable amount. An impaimient loss is recn[Sd immediately in incc¥nel (expanditure) for the year, Lnless the relevant assel is carned at a revaknd amount. in lch case the impairmént loss is treatd as a ievaluatson deLTea5e. Recognised impairment losses are reversed rf. and rf. tha reasons for the imparmenl loss have ceased lo apply. ere an imparmerrt loss subsequently reverse5. the carrying amount of the asset Is increased to the revised estimate of its recovefabie amcMJnt. but 50 Itt the increased carryin9 amnI do8s not exceed the carrying amount that Wld have l)een deterynined haf iwnpainneni s$ been recognised for the asset in prior years. A reversal of an iMMient loss Is recognised immedrdtely. unless the relevanl asset is Caled in at a reVaId am(1 in *fii¢h case the reversal of the impairMl loss is troated as a revaluation increase.
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued 1.9 Cash and cash equivalents Gash and castt equivalents include cash in hand. deposrts held at call with tHs. other short4ern liquid inveStMt5 with orignal maturtties of three months or less, ar#Y bank overdrafts. Bank overdrafts are $vn t"n borrowings in cwrent liatj'litr'es. 1.10 Financial instruments The company has elected to aFf4y provisions of Section 11 'Basic FirwK>al lnstrerrts. and Secli¢)n 12 'Other Financial InstriJmenls155ues' of FRS 102 to d of ts finanoal Instrents. Financial instruments are rec(MJnised in the compan$ balanc• $et whèn the ccYnpany becomes party to the contractual provisron5 of the instnrnent. Finanaal assets arKI liilities e offseL wrth the net amounts presented in the financial statements. when there is a legally enforceatrAe right to set off the Tecognised amounts and thefe rs an intenticffl to settle on a net basis or to reabse the asset and settle the liability simultanetyJ5ty. Basle financlal assets Basic finanaa 855els. which jde debth arkj cash arKI bank balare$. are initialty measured at transaction price induding transaction costs and are subsequenty carried at amortised c05t using the effective Inte$ rnethod unless the arrangem8nt cnStitUteS a financtng transaction. btere the transactron is measured at the present Val of thè futLKe receipts discojnted at a mathel rate of interosL Financial assets dassffied as receivable vrilPMn one year a not amortisecl. Basic flnan¢ial liabllftlés Basic financ4al liaiKties, including craditors arKI bank loans are irdtsalty recognised at thsaction price unle55 the aangement conslrtutes a financiro transath"on, where the debt instrument is rnea5ud al Ihe present value of the tutLKe payments discounted at a market rate of interesL Fina18• liakn'lilies Classified as payable within one year are not amortised. Debt instruments *e sthsequenty cwried at amtytised cos( using the effeclive interest fats mgthod. Trade creditors are oblNJations to pay for goods or services that have been acqirrired in the Ordinary course of operations from s¢JprAier5. Amounts payable are dassifi8d as current liaLxlEites rf payment is due within one year cff less. If rK>t, they ara presented a5 noTrcurrent Ik4bikties. Trade crethtors are recognised initially at trsath"On pri S)SeQUen ffleaswed at amortFséd cJ)st using the •ffeclive intwgst methixl. Der•eognltlon olflnan¢lal Ilabllides Finanaaj liabilib.es are derecognised Wt company's contractrja obligations ewre or a discharged or cancelled.
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critieal accounting èstimates and judgements In the application of Ihg coThyany'$ accounts"n9 poli5, the Trustees are required to make judgements, estlmates ana assumpuons aEoXrt ine cffjing amtrJnÈ of assets and knabilities Ihat are not readily apparent from other sources. estsmates and assocFated assumptions are based on historical expenence and other factors trt are &sidered to be relevant Artuat results may differ from these ests"mates. The estimates and wmlerlwng asSumpticS are reVId on an (gOIng ba515. RevisicS to accounting eJtimate3 are recc*Jnised in ihe period in whith Ihe estimate Is re¥ise(I where Irte revision affects only that period. or in the period of the revisKn fijtwe periotts revisi affects both current future pefiods. Income from donations arHI legacies Unrèstricted UnrE5tricled funds funds 2024 2023 Donations and gifts Membership fees Legacies 105,929 933 11XI.O 8.322 2.057 8.379 Charrtabl¢ aGtivitle3 2024 2023 Perfomiance related grants 8,291 9.760 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Income from listed inveslments Interest receivable 12.547 11,318 13,116 11.318
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities NaturE serve care Support SurKlry Legal and costs expen111lepro1essiOnaI Total 2024 Total 2023 2024 2024 2024 2024 Depreuation and impairment Operating Costs Other expaidtture 910 12,727 910 13,385 3,010 638 17.047 18.405 2.302 13.637 638 2,302 17,285 35.452 13,637 638 2.302 17.285 35.4S2 Descriptlon of charitable actlvltles ConseNation of grasslaTh Upkeep of nature reserves None of the Trustees (or any pers$ connected with them) received any rèmunwation or benefits from the company during the year. but 612023. 4) of them were reimbursed a total crf £3,207.*12023.. £1.058.38> for postage. printsng, 5talN)nery and sunthie5. Employ••s There were no employees d"n9 the year. 10 Net (lo$se$Vgains on investmonts 2024 2023 RevalUab. of investmenls (2.32n {15,6571 11 Taxation The cnarity is exempt from taxation on its activjts'es because a4 tts income is arrfied for char¢table rMJrposes. 10-
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Tangible fixed assets EwiFrfnt Cost Additions 107.121 111,669 At 31 March 2024 107.121 111.669 Depreciatlon and impalmient Depreciation chwged in the year 910 910 At 31 March 2024 910 910 Carrying amount At 31 March 2024 107.121 3.638 110.759 13 Fixed asset investments Listed Investments Cost or valuation At 31 March 2023 v4uats.on thanoes 241.580 12,3271 At 31 Marth 2024 239.253 Carrying amount At 31 March 2024 239,253 At 31 March 223 241,580 Investments excee(fing 5% ol the totd market value.. M&G Charibond CrtS Income. number of shares 57.829.63 <2023: 57.829.63) valued at £63,867.05 12023. £63,352.37) M&G Ch8ri1IJnd Equilies. numbor of shares 11.439.44 (2023.. 11.439.44) at £166.567.47 12023.. 169.666.421. Fixed assot investments revalued The hist1¢ cost of tr)e investments is £224.635 (2023- £224.635). 14 Debtors 2024 Amounts falllnq due wfthln one year. 20ZJ Other debtors 11
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 1S Credttors: amounts falling due within one year 2024 2023 Other Creditors Accrua15 and defmd income 281 720 5.529 1.029 1,001 16 Restrlcted funds The restricted funds of trte charity comprise the uneyoended balances of {Jor)ali$ and grants held on trust subiect to speafic condikn.ons by dOnS as to how they may be used. At 1 April At 31 Mah 2023 2024 14.789 14,789 Pmvious year. At 1 April At 31 March 2022 2023 Warden Fund Ash Tree FLnd 7.789 7.789 14.789 14.789 17 UnrBstricted funds The reStriCted funds of the ¢haftty comprisè the uneXPded balsnces of donions and grants vd)i¢h are not subj'ect to spectfic cond[tic$ by i)ncKs and garrtors as to ho+V they may be used. These inclu¢Je designated funds have been set aside out of unrestnded furKls by the tntstees sF*afic purposes. At 1 April Incoming Resourc Gains and At 31 Mareh losses 2024 General fijnds 249.733 228.269 (17.285) {2,32n 458.39J Previous year: At 1 Aprll Incoming Res0w$ 2022 rExwJrcos eXpded Gains and At 31 March losses 2023 General fvnds 271,385 29,457 (35,452) {15.65n 249,733 Unrestricted 12-
THE MURRAY DOWNLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysis of net assets between funds Unrestricted Restrlcted Total Fund balances ai 31 March 2024 are repsented by: Tangible assets Investments Current assetsl(liabilrties) 110,759 224.464 123.167 110.759 239,253 123.167 14.789 458.390 14.789 473.179 13-