## **CULLOMPTON WALRONDS PRESERVATION TRUST FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022** |**Contents**|| |---|---| ||**Page**| |Reference and administration details|1| |Trustees report|2-4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|
8-12| **Charity number 1061913 Company number 03328420** ## **1 CULLOMPTON WALRONDS PRESERVATION TRUST YEAR ENDED 31 DECEMBER 2022 REFERENCE AND ADMINISTRATION DETAILS** |**Registered charity number**|1061913| |---|---| |**Company number**|03328420| |**Address**|The Walronds| ||6 Fore Street| ||Cullompton| ||Devon| ||EX15 1JL| |**Trustees**|Mrs E A Sessions (Chair)| ||Mrs J P Morris (Treasurer)| ||Mrs J Campbell BEM (Secretary)| ||Mrs E M Sutton| ||Mrs F Liversidge| ||Mr G Sessions| |**Company Secretary**|Mrs J Campbell| |**Independent examiner**|Mrs M Hutchings| ||Apsleys Chartered Accountants| ||21 Bampton Street| ||Tiverton| ||Devon| ||EX16 6AA| |**Bankers**|NatWest Bank plc| ||29 Fore Street| ||Tiverton| ||Devon| ||EX16 6NA| **2** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 TRUSTEES' REPORT** The Trustees (who are also directors of Cullompton Walronds Preservation Trust for the purposes of company law) present their report and the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. ## **OBJECTIVES AND ACTIVITIES** ## **Summary of the objects of the charity as set out in its governing document** To preserve for the public benefit whatever historical, architectural and constructional heritage may exist in and around the parish of Cullompton in the form of buildings (including buildings defined in S336(1) of the Town and Country Planning Act 1990) of particular beauty or historical, architectural or constructional interest. To provide and maintain an open space or garden and a public meeting room for the benefit of inhabitants of and visitors to the parish of Cullompton. The trustees have had regard to the Charity Commission guidance on public benefit and believe this is achieved via the charity's objectives and activities. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Summary of the main achievements of the charity during the year** 2022 was another very challenging year for the Trust but our Trustees and volunteers look forward with increasing optimism to 2023. The Covid Restrictions and regulations and the current economic circumstances and uncertainty have continued to impinge on our fundraising events. We have had bookings for private social events but at present we have very few regular bookings, for exercise classes and the like. We have hosted workshops for pottery, needle felting and willow work during the year and we have some bookings for similar events in the diary. We have hosted Police cadets for Police Training Days we have had some History group meetings, when numbers tend to be quite limited. We benefitted from a Murder Mystery evening held at Willand Village Hall. We held regular craft markets and coffee mornings to coincide with the first Farmer’s Markets the month and these have proved to be well supported. Coffee has been served both inside the house and outside, and customers could sit at the tables and benches provided. Coffee mornings are held on the fourth Saturday of the months as well, with some additional stalls on occasions. The Spring and Autumn Food festivals have continued to be successful. Stalls were set up in gazebos on the lawn and activities, such as Circus Skills, supporters by Creative Cullompton were very popular. The Christmas Lights Festival also generated income and a very good footfall. Some meetings, for small groups of people have been booked for later in the year. An Art Exhibition was held in the house and plans are in hand to host another Art Exhibition this year. The garden itself has proved to be a very valuable resource. Families continue to visit the Willow Trail and there have been visits by the local playgroup. The Boules pitch has been used regularly by at least two groups for much of the year and visitors continue to enjoy the tranquillity of the site, sitting at the picnic tables we leave for their use. We have also hosted events in the garden. We have hosted birthday parties and are receiving enquiries for the use of the garden for summer weddings next year. With support, we hired a marquee for the Arts Festival. A History Group meeting was held, along with a Folk evening, two evenings of one act plays. Activ8, a local children’s theatre group performed ‘Blaze’, based on the Great Fire of Cullompton, in the marquee. We hosted the Sun and Moon Theatre Company, in the garden. We plan to have similar events in the garden this year. In March we will face some time of upheaval as the house exterior is due to be redecorated. This will restrict some of our activities due to Health and Safety issues, due to the scaffolding. The small but willing team of volunteers continue to ensure the gardens look their best. The ‘indoor’ volunteers allow us to host our coffee morning visitors and our Conference and Meeting groups . Trustees represent the Walronds at the Spring and Autumn Festival Committee Meetings, The Town Team and HAZ (Heritage Action Zone) meetings, Creative Cullompton and The Christmas Lights Committee meetings and the Cullompton Town Centre Regeneration Partnership Group. We would welcome new volunteers to help **3** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** # **YEAR ENDED 31 DECEMBER 2022 TRUSTEES' REPORT** ## **FINANCIAL REVIEW** ## **Result for the year** The financial statements show net income for the year of £1905 (2021: £9018). ## **Brief statement of the Charity’s policy on reserves** The Trust aims to raise positive unrestricted reserves by generating funds through letting and fund-raising activities. Unrestricted reserves at the year end totalled (£3127) (2021: (£5032)). ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** **Type of governing document** Memorandum and Articles of Association **How the charity is constituted** Company limited by guarantee **Trustees selection method** Elected by trustees ## **The policies and procedures for the induction and training of trustees** The policy for adopting and training new trustees is based on Charity Commission guidance CC30 and trustees are invited to read CC3, CC3a and CC11. Prospective trustees are invited to attend meetings, read minutes of previous meetings and to become thoroughly acquainted with the Walronds and to participate in activities there. To implement this policy, trustees seek new members from existing users and volunteers. **4** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 TRUSTEES' REPORT** ## **TRUSTEES' RESPONSIBILITIES STATEMENT** The trustees (who are also directors of Cullompton Walronds Preservation Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the board on and signed on its behalf by **Mrs E A Sessions Trustee** **5** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS OF CULLOMPTON WALRONDS PRESERVATION TRUST** I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2022 which are set out on pages 6 to 12. ## **Responsibilities and basis of report** As the charity 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 company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examinations 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 that in any material respect: 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. Mrs M Hutchings Apsleys Chartered Accountants 21 Bampton Street Tiverton Devon EX16 6AA Date………………………… ## **6** ## **CULLOMPTON WALRONDS PRESERVATION TRUST YEAR ENDED 31 DECEMBER 2022 STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** |**Notes**
**Income**
Donations and legacies
2
Charitable activities
Other trading activities
3
Grants
**Total income**
**Expenditure**
Charitable activities
4
**Total expenditure**
**Net Income/(expenditure) for the year**
Transfers between funds
**Net movement in funds**
**Reconciliation of funds:**
Balances brought forward at 1 January 2022
**Balances carried forward at 31 December 2022**|**Unrestricted**
**Funds**
**£**
3,310
-
31,001
8,540
42,851
(40,946)
(40,946)
1,905
-
1,905
(5,032)
(3,127)|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
-
-
3,679,244
3,679,244|**2022**
**£**
3,310
-
31,001
8,540
42,851
(40,946)
(40,946)
1,905
-
1,905
3,674,212
3,676,117|**2021**
**£**
3,776
-
17,375
28,831| |---|---|---|---|---| |||||49,982| |||||(40,964)| |||||(40,964)| |||||9,018
-| |||||9,018
3,665,194| |||||3,674,212| **The notes on pages 8 to 12 form an integral part of these financial statements.** **7** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 BALANCE SHEET** |**Note**
**Fixed Assets**
Tangible assets
6
**Current Assets**
Debtors
7
Cash at bank and in hand
**Creditors:**amounts falling due within one year
8
**Net Current Assets**
**Net Assets**
**Funds**
Unrestricted funds
10
Restricted funds
11|**£**
**£**
3,614,439
55,767
20,259
76,026
14,348
61,678
3,676,117
(3,127)
3,679,244
3,676,117
**2022**|**£**
**£**
3,616,551
36,432
30,746
67,178
9,517
57,661
3,674,212
(5,032)
3,679,244
3,674,212
**2021**|**£**
**£**
3,616,551
36,432
30,746
67,178
9,517
57,661
3,674,212
(5,032)
3,679,244
3,674,212
**2021**| |---|---|---|---| ||||3,674,212| ||||(5,032)
3,679,244| ||||3,674,212| For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies Directors' responsibilities: - The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records - - and the preparation of accounts These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the trustees on………………………….. and signed on their behalf by: ## **Mrs J Morris Trustee** ## **Company registration number 03328420** **The notes on pages 8 to 12 form an integral part of these financial statements.** **8** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS** ## **1. Accounting policies** ## **1.1. General information and basis of preparation** Cullompton Walronds Preservation Trust is a Private Company limited by guarantee and Charity incorporated in England within the United Kingdom. The nature of the charity’s operations and principal activities are that of restoring the Walronds and using it for a wide variety of community purposes. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **1.2. Going Concern** Following the global impact of 'COVID-19', at the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3. Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **1.4. Income recognition** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. **9** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS** ## **1.5. Expenditure recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings: - Expenditure on charitable activities; Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. ## **1.6. Tangible fixed assets and depreciation** Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows; Land and buildings **-** No depreciation Fixtures, fittings and equipment **-** 20% Reducing balance Computer equipment **-** 3 Years straight line Freehold property is not depreciated because the estimated net realisable value at the end of the useful economic life is such that any depreciation would be immaterial. ## **1.7. Debtors and creditors receivable / payable within one year** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. ## **1.8. Cash** Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. **10** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS** ## **2. Donations and legacies** Donations **2022 2021 Unrestricted Unrestricted Funds Funds £ £** 3,310 3,776 |**3.**
**4.**|**Other trading activities**
Room hire
Admissions/Tours/Refres
Other income
Rent receivable
**Charitable activities**| |---|---| |||| |---|---|---| |**Other trading activities**|**2022**|**2021**| ||**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**£**|**£**| |Room hire|2,930|2,539| |Admissions/Tours/Refreshments|7,048|4,787| |Other income|200|305| |Rent receivable|20,823|9,744| ||31,001|17,375| |**Charitable activities**|**2022**|**2021**| ||**Unrestricted**|**Unrestricted**| ||**Funds**|**Funds**| ||**£**|**£**| |Rates|988|1,227| |Insurance|8,412|7,620| |Light and heat|11,091|7,655| |Repairs and maintenance|3,105|10,144| |Accommodation expenses|70|70| |Cleaning|1,672|1,211| |Accountancy fees|1,350|1,116| |Bank charges|16|3| |Computer costs|-|70| |Printing, postage and stationery|83|761| |Telephone and internet|1,789|1,530| |Website development|1,016|1,365| |General expenses|490|751| |Catering expenses|1,392|454| |Subscriptions and books|35|35| |Event expenses|8,026|5,253| |Depreciation|1,311|1,699| |Donations paid|100|-| ||40,946|40,964| **11** ## **CULLOMPTON WALRONDS PRESERVATION TRUST YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS** ## **5. Trustees' emoluments** |||| |---|---|---| |**Trustees' emoluments**
Remuneration
Expenses reimbursed - various expenses
Number of trustees to whom expenses were reimbursed|**2022**
**£**
**-**
4,763
~~.~~
4|**2021**
**£**
**-**
1,387| |||5| The charity does not have any employees hence no employee earned more than £60,000 during the year. ## **6.** |**Tangible fixed assets**
**Cost**
At 1 January 2022
Additions
Disposals
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
**Net book values**
At 31 December 2022
At 31 December 2021|**Land and**
**buildings**
**freehold**
**£**
3,611,478
-
1,341
3,610,137
-
-
-
3,610,137
3,611,478|**Fixtures,**
**fittings and**
**equipment**
**£**
25,981
540
-
26,521
21,143
1,076
22,219
4,302
4,838|**Computer**
**equipment**
**£**
2,011
-
-
2,011
1,776
235
2,011
-
235|**Total**
**£**
3,639,470
540
1,341| |---|---|---|---|---| |||||3,638,669| |||||22,919
1,311| |||||24,230| |||||3,614,439| |||||3,616,551| Both the Architectural Heritage Fund and The National Heritage Memorial Fund have a legal charge over the assets of the charity. |**Debtors**
Trade debtors
Other debtors
Prepayments and accrued income|**2022**
**£**
110
55,542
115
55,767|**2021**
**£**
132
36,200
100| |---|---|---| |||36,432| ## **7. Debtors** ## **12** ## **CULLOMPTON WALRONDS PRESERVATION TRUST** ## **YEAR ENDED 31 DECEMBER 2022 NOTES TO THE FINANCIAL STATEMENTS** ## **8. Creditors: Amounts falling due within one year** |||| |---|---|---| |**Creditors: Amounts falling due within one year**
Other creditors
Accruals and deferred income|**2022**
**£**
13,323
1,025
14,348|**2021**
**£**
8,542
975| |||9,517| |**9.**
**Analysis of net assets between funds**
Fund balances at 31 December 2022 are represented by:
Tangible fixed assets
Current assets
Current liabilities
**10.**
**Unrestricted funds**
Unrestricted funds
Unrestricted funds
**11.**
**Restricted funds**
Cullompton Walronds
Cullompton Walronds|**1 January**
**2022**
**£**
(5,032)
**1 January**
**2021**
**£**
(14,050)
**1 January**
**2022**
**£**
3,679,244
**1 January**
**2021**
**£**
3,679,244|**Unrestricted**
**Funds**
**£**
4,302
6,919
(14,348)
(3,127)
**Incoming**
**£**
42,851
**Incoming**
**£**
49,982
**Incoming**
**£**
-
**Incoming**
**£**
-|**Restricted**
**Funds**
**£**
3,610,137
69,107
-
3,679,244
**Outgoing**
**£**
(40,946)
**Outgoing**
**£**
(40,964)
**Outgoing**
**£**
-
**Outgoing**
**£**
-|**Total**
**funds**
**£**
3,614,439
76,026
(14,348)| |---|---|---|---|---| |||||3,676,117| |||||**31 December**
**2022**
**£**
(3,127)| |||||**31 December**
**2021**
**£**
(5,032)| |||||**31 December**
**2022**
**£**
3,679,244| |||||**31 December**
**2021**
**£**
3,679,244| ## **Purpose of restricted funds** Restricted funds represent funds associated with the cost of refurbishing the Walronds. ## **12. Related party transactions** Included in other debtors is an amount due of £55542 (2021: £36200) from Cullompton Walronds Limited. Some of the Trustees of Cullompton Walronds Preservation Trust are directors of Cullompton Walronds Limited.