Company Number: 03788484 Charity Number: 1079635 THE ARBORY TRUST (A company limited by guarantee and not having share capitsl) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE ARBORY TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Contents Pages Trustees. report Independent examiners, report Statement of financial activities Balance Sheet Notes to the financlal statements 7-13 Principal address: The Lodge The Barton Woodland Burial Ground Comberton Road Barton Cambridge CB23 7BA Company Number: 03788484 Charity Number: 1079635 Bankars: Barclays Bank PIC Cambridge CB2 3XN Sollcitors: Lee Bolton Monier- Williams 1 The Sanctuary Westminster London Independent Examlner Naomi Hedger BFP FCA CTA 7 Quy Court Colliers Lan8 stow-cum-Quy CB25 9AU
THE ARBORY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual report with the financial statements of the Trust for the year ended 31 December 2023. OBJECTIVES AND ACTIVITIES The object of the charity is the provision and maintenance of public burial grounds in the advancement of Christian religion. The Trustees in setting their objectives have had due regard to the public benefit guidance issued by the Charity Commission. ACHIEVEMENTS AND PERFORMANCE The popularity of Barton continues, We are using the glades in the North Glebe for Burials and have filled Glade 1 (Hornbeam), Glade 2 (Aspen), Glade 4 (Birch), Crab Apple (Glade 51 and Willow (Glade 3). Spindle (Glade 8) and Oak {Glade 7) and Wayfaring (Glade 6) and Ash (Glade 9) are now open. There were in total, 191 burials and 111 intemients of ashes in 2023 [181 Buria15 and 114 Ash internments in 2022]. There was a consistent flow of Funera18 throughout the year. There have been relaxed covid restrictions in line with govemment recommendations. Burial reservations have not been allowed since 2019. The Trust can retract that decision at any time in the future. People are allowed a reservation when it is booked at time of the burial of their loved one. We seem to be taking more double depth reservations because of this. The Trust anticipat8S that the number of reservations and intermonts in 2024 will continue to match if not exceed Ihat of previous years. It is the dedication and Cohesion of the whole team, whether employees or volunteers both at Barton and Ely, that contributes hugely to the Trust's success. The Trustees expect that Glebe Rise will be fulty fenced in 2023 with further works due to be completed in 2024 including track and car parking provisions along with the tree planting. Trustees The Venerable Dr Alex Hughes, Archdeacon of Cambridge has joined the Trust. REVIEW OF THE YEAR The net surplus for the year amounted to £139.881 (2022- £196,597). Rlsk analysls The trustees confirm that major risks lo which the Trust is exposed are reviewed regularly. The trustees delegate to a Working Group of trustees the task of ensuring that risks are reviewed and managed. Reserves pollcy The Trust aims to hold free reserves sufficient to cover 12 months of charitable expenditure, currently estimated at £ 95.000. At 31 December 2023 the Trust's free reserves were £1,010,602. The long term aim of the reserves is to enable for future acquisition of land for woodland burials, either at Barton or elsewhere and for stte maintenance in-perpetuity.
THE ARBORY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Plans for the future The Trust are in the process of authorising final drawings for the seice Room extension and will be Submitting these plans for final planning permission in 2024. This is to make sure our families can be S8ated comfortably rather than stand outside when large funerals are taking place. The planting of trees in Glebe Rise will commence in 2024. The tracks in Glebe Rise will also be completed in 2024. Regarding Covid 19, we will still plan to have safety measures in place including social distancing signs and sanitiser in place around the venue. Signs will be present to remind people to be careful. We will keep the Lodge well ventilated when families are having a service. STRUCTURE GOVERNANCE & MANAGEMENT The charity was incorporated as a company limtted by guarantee on 11 June 1999 and regi8tered with the Charity Commission on 29 February 2000, charity number 1079635. Day to day management of the work of the Trust is undertaken by the Manager, under the direction of the working group of Trustees. The working group meets 4 times per year, usually February, April, June and November and the full annual meeting takes place in September. Appolnlment of Trustees The Chairman of the Trust must be a Bishop of the Church of England, Othor trustees are appointed to provide expertise in the following areas.. land and woodland management, flnance,, ecological matters., and burial practice of the Christian Church. All of these areas are covered by the current trustees. Upon appointment new trustees are given an induction pack, which includes working group meeting minutes, past Issues of the newsletter and the most recent annual accounts, and are invited to attend a trustees meeting before accepting the trusteeship. Trustees. responglblllties The trustees are responsible for preparing financial statements for each financial year which give a true and fair view of the state of affairs of the trust as at the end of the financial year and of the surplus or deficit of the trust for that period. In preparing those financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent., comply with applicable Accounting Standards, subjecl to any material departure8 disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in business. The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the trust and to enable Ihem to ensure that the financial statements comply with the Charities Act and the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
THE ARBORY TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Charlty Trustees The Tnjstees who served during the year were: The Rt Revd Bishop of Ely Stephen Conway (Chainnan) (resigned 1 July 2023) Sir Hugh Duberly KCVO C8E (resigned 12 September 2023) The Venerable Dr Alex Hughes (appointed 25 August 2023) Mr Richard Pemberton (Acting Chaimian from 1 July 2023) The Revd Peter C Owen Jones Mr Howard John Dellar Dr Gareth John Thomas Mrs Judy Pearson Mr John Boocock BEM Mrs t)eryn Coe Mr Paul Lawson Evans Mr Fr8ncis William Mlles Burkltt Secretary Mrs S Mlla Slgned by: Richard Pemberton Date:
THE ARBORY TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2023 which are set out on pages 5 to 13. RESPONSIBILITIES AND BASIS OF REPORT As the charity trustees of the company 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 examination I have followed the Directions given by the Charity Commission under section 145(5)(bl 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 malerial respect.. la) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act- or (b) the accounts do not accord with those records. or (c) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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 (d) 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 lapplicable to charities preparing their account in accordance with Financial Reporting Stsndard 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 underslanding of the accounts to be reacheo Naomi Hedger BFP FCA CTA (Independent Examiner) Date.. 4 July 2024 Chater Allan LLP Chartered Accountants 7 Quy Court Colliers Lane Stow-cum-Quy CB25 9AU
THE ARBORY TRUST STATEMENT OF FINANCIAL ACTIVITIES (Incorparating Income and Expenditure Account} FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Funds General Total Fund 2023 Total 2022 Note Income From: Donations and legacies Charitable activities Investments 1,620 1,620 271,995 271,996 8,156 8,156 111,425 238,564 7,883 Total 281,771 281,771 357,872 Expanditure On: Charitable activities 167,840 167,640 125,965 Total 167,640 167,640 125,965 Net gainl(loss) on investm8nts 25,750 25,750 (35,310) Net Income (Expandituro) 139,881 139,881 196,597 Transfer between Funds: Net Movement In Funds 139,881 139,881 198,597 Reconciliation Of Funds: Total funds brought forward 1,617,278 1,617,278 1,420,681 Total funds carried fonNard 1,757,159 1,757,159 1,617,278 Contlnulng operatlons None of the Trust's activitie8 were acquired or discontinued during the above financial periods,
THE ARBORY TRUST BALANCE SHEEr AS AT 31 DECEMBER 2023 Company Number. 03788484 2023 2022 FIXED ASSETS Tangible assels Investments 746.557 303.705 659,465 269,799 CURRENT ASSETS stock Debtors Cash at bank 1,098 84.576 627.116 712,790 1,098 164.726 527.848 693,672 CREDITORS Amounts falling due within one year 10 5,893 5,658 NET CURRENT ASSETS 706,897 688,014 TOTAL AS8ET8 LESS CURRENT LIABILITIES 1,757.169 1,617,278 NET ASSETS 1,757.159 1,617,278 FUNDS Unrestricted funds.. General furKI,. Other reserves Revaluation reserve 1,688,174 68,985 1,574.043 43,235 13 1,757,159 1,617,278 ,159 ,617,278 The charhable ¢omp8ny Is enlltled to exemption from audit under Section 477 of the Companies Act 2006 for th8 year ended 31 December 2023 The members have not required the cornpany to obtsin an eudlt of Its flnancl81 ststements for the year ended 31 December 2023 in accordance with Section 476 of Ihe Companies Act 2006 Thg Irustees a¢knOedge thelr re8ponsSbllltles for. {al ensurlng thot the charitable company keep8 accounllng records tch comply with Sectlons 386 and 387 01 the Companioes Act 2006 and; (bl preparfng financial statements vknich give 8 Iru8 and fair vlew of the state of affai15 of the charitable cornpany as at the end of each finalcial year and of its profft or loss for each financlal year in accordance with ihe requirements of Sections 394 and 395 and which otherwse comply wlth the requlremenls of the Comp8nie8 Act 2006 relating to financial slalements. so far as applicable to the charilablo company. The financial slatements We approved by the Board of Trustees on Z Juu1 2<£¢Fand were signed on its behalf by: Richard Pernberton Tn5Stee Deryn Coe Trustee
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1. ACCOUNTING POLICIES la) Basis of accounting The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements have been prepared in accordance with the 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 The Charity constitutes a public benefil enttty as defined by FRS102 Ibl Income Income is recognised when the Charity has entitlement to the funds, any perfomiance conditions attached lo the ilem of income have been met, it is probable that the income will be received and the amount can be measured reliably. ReseNatlon fees are recognised upon receipt and not treated as restricted due to future costs belng negligible (c) Expendlture Expenditure is recognised On there is legal or constructive obligation to make a payment to third paty, it is probable that settlement will be required and the amount of the obligation can be measured reliably. (d) Tangible flxed a886t8 Land is not depreciated. The Memorial Lodga and it's furnishings are depreciated to wrste off the cost over the estimated useful life of belween 10 and 25 year8. Computers are depreciated over an estimated useful life of 3 years. (e) Taxation The company18 8 registered charity and as such is not liable to texalion. (n Income and oxpenditure The inclusion of an Income and Expenditure account is not deemed necessary as the relevant information is included in the Statement of Financial Activities. (g) Investments Investments listed at the stock exchange are stated at market value at the balance sheet date. The SOFA Includes the nel gains and losses arising on revaluations and disposal throughout the year. (h} Pension contribution8 The company operates a defined benefli pen8lon Scheme for one member of staff. It Is a mulll-employer scheme and it is not possible to attribute scheme assels and liabilities to specific employers. Contributions are accounted for as if it was a defined contribution schemè. 11) Golng Concern The trustees have considered the financial position of th8 charitable company and bèlieva St is well placed to manage its business risk successfully. The trustees have a reasonable expectation that the charitable company will have adequate resources to meet its financial obligations for the next 12 to 18 months and, on that basis, they continue to adopt the going concern basis in preparing the annual reports and the financial statements.
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 2 INCOME FROM CHARITABLE ACTIVITIES A8hlPartner Resopiatlon8 Burial Room hire and other Incomo Totsl 2023 Total 2022 Grants Woodland burial ground 70,685 165,970 10,280 25,080 271,995 238,564 3a EXPENDITURE ON CHARITABLE ACTIVITIES SUMMARY Direct Costs Support Co$t8 Total 2023 Total 2022 Woodland burial ground 156,833 10,807 167,640 125,985 3b EXPENDITURE ON DIRECT COSTS Ganaral Fund Total 2023 Totsl 2022 Staff cost8 Traval and guardian expenses Telephone Payroll processing costs Printing and slationery Subscription Computer expenses Grave digging Lodge expenses Grounds maintenance Professional fees Deprecialion Car park rent Promotlon 65,454 1,847 1,328 2,059 1,601 65,454 1,847 1,328 2,059 1,601 55,628 1,476 1,330 2,042 1,178 990 883 4,533 5,383 28,356 1,190 10,909 1,000 672 115,568 1,255 6,103 6,385 51,879 4,875 11,797 1,000 1,250 156,833 1,255 6,103 8,385 51,879 4,875 11,797 1,000 1,250 156,833 3c EXPENDITURE ON SUPPORT COSTS General Fund Total 2023 Total 2022 Insurance Utilitie5 Diocesan office costs Governance (Note 4) Bank charges 1,532 3,760 1,500 3,720 295 10,807 1,532 3,760 1,500 3,720 295 10,807 1,321 3,079 1,500 4,200 297 10,397
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 4 EXPENDITURE ON GOVERNANCE General Fund Total 2023 Total 2022 Accountancy fees- current year 3,720 3,720 3,720 3,720 4,200 4,200 No Trustees received any expenses during the year (2022.. £Nill. 5 STAFF COSTS 2023 2022 Wages and salaries Pension cost Pension deficit redU10n Cost 64,603 851 54,888 740 65,454 55,628 Key management per80nn61 The total employment benefits including pension contributions of key management personnel was £32,441 (2022: £33,173) No employee eamed £60,000 or more during the year. The average number of employe8s during Ihe year was 4 <2022- 3) No tru8tee received remuneration during ihe year (2022: £Nill 6 TANGIBLE FIXED ASSETS Memorlal Lodge Land Equlpmant Total Cost At 1 January 2023 Addition5 552,561 89,874 144.882 22,097 9,015 719,520 98,889 At 31 December 2023 642,435 144,862 31,112 818,409 Depreclatlon At 1 January 2023 Charge for year 46,066 8.741 13,989 3,056 60,055 11,797 At 31 December 2023 54,807 17,045 71,852 Net book value Al 31 December 2023 642,435 90,055 14,067 746,557 At 31 Dernber 2022 552.561 98,796 8,108 659,465 The Trusys fixed assets are all used for charitable purposes.
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 7 INVESTMENTS 2023 2022 Lisled investments.. Central Board of Finance Income Shares 303,705 269,799 303,705 269,799 Movements in tho year: Income shares Balance at 1 January 2023 Additions Reinvested income Disposals Revaluation - unrealised realised 269,799 8.156 25,750 Balance at 31 December 2023 303,705 STOCK 2023 2022 Grave microchips 1,098 1,098 9 DEBTOR8 AND PREPAYMENTS 2023 2022 Prepayments Accrued income Due from Ely Diocesan Board of Flnance 333 3,869 80,374 333 3,869 160,524 84,576 164,726 10 CREDITORS: Amounts falllng due within one year 2023 2022 Creditors & accrual8 5,893 5,658 5,893 5,658 10
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11 FUNDS General Fund Total Balance at 1 January 2023 Surplusl(Deficil) for the period 1,617.278 139,881 1,617,278 139,881 Balance at 31 Decembor 2023 1,757,159 1,757,159 The restricted fund related to donations for Irees 12 ANALYSIS OF NET ASSETS BETWEEN FUNDS General Fund Total Fixed assets Net ass8lsllliabiliti88) 746,557 1,010,602 746,557 1,010,602 Total net assets 1,757,159 1,757,159 13 REVALUATION RESERVE 2023 2022 Balance at 1 January 2023 Rev81uation In the year 43,235 25,750 78,545 (35,310) Balance at 31 Dember 2023 68,985 43,235 14 CONTROLLING PARTY The charity is controlled by the Board of Trustees. 11
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 15 PENSION COSTS The Arbory Trust is part of the Ely Diocesan Board of Finance (DBSJ pension scheme. Ely DBF (DBS) participates in the Defined Benefils Scheme section of CWPF for lay staff. The Stheme is administered by the Church of England Pensions Board, which holds th8 assets of the scheme separately from those of ELY DBF (the employer) and thè other participating employers. CWPF has two sections: 1. the Defin6d Benèfits Scheme 2. the Pension Builder Scheme, which has two subsections. a. a deferred annuity section known as Pension Builder Classic, and. a cash balance section known as Pension Builder 2014. The Defined Benefits Scheme I'DBS.) section of the Church Workers Penslon Fund provides beneffts for lay staff based on final pensionable salaries. For funding purposes, DBS is divided into sub-pools in respect of each participating employer as well as a further sub-pool, known as the Life Risk Pool. The Life Risk Pool exists to shar6 Certain risks between employers, including those relating to mortality and post-retir6m8nt invastm8nt returns. The division of the DBS into sub-pools is notional and 18 for the purpose of calculaling ongoing contributions. They do not aller the fa¢t that the a8sets of the DBS are held as a single trust fund out of which all the benefit8 are lo be provided. From time to lime, a notional premium is transferred from employers, sub-pools to the Life Risk Pool and all pensions and death benefits are paid from the Life Risk Pool. The scheme is a multi-employer 8cheme as described in Section 28 of FRS102. It is not possible to altrtbule DBS assets and liabilities to specific ernployers, since each employer, through the Life Risk Section, 8 exposed to aduarial risks associated with the current and fomier employ&es of other entities participating in DBS, This means that contributions are accounted for as ff DBS wer6 a deflned conlrlbutlon scheme. The pensions costs charged to The Arbory Trust SOFA during the year are contributions payable towards b8n8fits and expenses accrued in that year12023.' £851, 2022: £740) plus the figLif8s in relation to The Arbory Trust's share of the DBS deficit highlighted In the lable below 8s being recognised in the SOFA, giving a total charge of £851 for 2023 (2022: £740}. If, following an actuarial valuation of the Life Risk Pool, there is a surplus or d8ficit in the pool, further transfers may be made from the Life Risk Pool lo the employers, sub-pools, or vice v6rsa. Th8 amounts to be transferred (and their allocation between th6 sub-pools) will be settled by the Church of England Pensions Board on the advice of the Actuary. A valuation of DBS is carried out once every three years. The most recenlly finalised was carried out as at 31 December 2019. In this valuation, the Life Risk Section was shown to be in deficit by £7.7m and £7.7m was notionally transferred from the employers. sub-pools to the Life Risk Section. This increased the Employer contributions that would otherwise have been payable. The overall deficit in DBS was £11.3m. The next actuarial valuation is due at 31 December 2022. The calculations for Ihis are under way. Following the valuation, Ely DBF has enlered into an agreement with the Church Workers Pension Fund to pay a contribution rat6 of 23.60h of pensionable salary and expenses of £6,500 per year. In addition deficit payments of £5,692 per year have bean agreed for 7 years from 1 April 2021 in respect of the shortfall in the Employer sub-pool. This obligation has been recognised as a liability within Ely DBF'S financial statements. 12
THE ARBORY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15 PENSION COSTS (continued) Section 28.11A of FRS 102 requires agreed deficit recovery payments lo be recognised as a liabilty. The movement in the provision for Arbory Trust is set out below.. 2023 2022 Balance sheet liability at 1 January Deficit contribution paid Interest cost {recognised in SOFA) Remaining change to the balance sheet liability'(recognised in SOFA) Balance sheet liability at 31 December ' Compri898 change in agre&S d&ficil r@Vory plan and ¢h8ng• in dlxount rate b¢h¥e¢n year4nd$. This liability r8pr8$ents the present value of the deficit contribution8 agreed as at the accounting d8te and has been valued using the following assumptions, set by reference to the duration of the deficit recovery payments: Dec-23 NIA D6c-22 O.OO/o Oec-21 Discount rate The legal structure of the sch8m8 is such thal rf another employer fails, the employer could become rèsponsible for paying a share of that employer's pension liabilities. 13