Herriard Village Charity (a company limited by guarantee) Annual Report and Accounts for the year ended 31 December 2023 Charlty Number: 1080169
Herriard Village Charity Annual Report and Accounts for the year ended 31 December 2023 Contents Reference ar¢d Admintstrative Infornwioo........................................................................................................... Trustees and Direct()TS' Rert............................................................................................................................. Statement of Financial Activities................................................................................... ...................................... BaIance SheeL....................................................................................................................................................... Notes to the Financial SmenLS.........................................................................................................................
Herriard Village Charity Reference and Administrative Infornlation Charfty Name Herriard Village Charity Company Number 3857596 Charlty Number 1080169 Direetors and Trustees John Jervoise (Chainnan) Kay Linnell (TreasLwer) Antony Connell Gareth Davies Simon Wills Secretary Kay Linnell Brick Kiln Cottage The Avenue Herriard Hampshire RG25 2PR
Herriard Village Charity Directors, and Trustees, Report The directors and trustres present their annual rqx)rt on the affairs of the charity together with the financial statements for the year ended 31 December 2023. The fllwicial statements have been prepared in accordance with the accounting policies set 01 in note l io the fmancial siaternents and cofflply with the charity's Trust Dee& applicable law and the requirements.of the Statement of Recommended Praciice, Accounting and Reporting by Cbarities prepaTing their accounts in accordance with the Finan¢ial RertIllg Standard applicabk in the UK (FRS 102). Directors and Tn The direcwts who served during the year were: J T L Jeryoise K Linnell W H Ives (Died 21 May 2024) A Connell G Davies S Wills (Appointed 13 February 2023) Structur< Governance and Management The chatity is a cornpany limitrd by guarantee incoryorated on 12 (ktober 1999 and regisred as a charity on 31 NIarch 2(KK). The company was established under a memorandum of &ssociation which establishes its objects and poweT5 aad is governed under its articles of &SKtiation. In the event of the company being wound up. the members are required contribure an atnount not exceeding £10. The directors of th¢ company are also chaTity trustees for the pu$¢$ of charity law. ApFM)illtment of trustees is by approval of the trustees. The tn$ are also to ensure that the board of trustees comprises persons nominated by Herriard Estak, by the HerTfftard Parish Council and by the Herriard Sports Club, together with a person With the skills needed to act as finance director. Under the re4uiIements of the Articles of Ass(Klatio the number of directors St11 not be less than tht¢e and one-third of the directors reiire by rotation at each AGM. All directots give their litne voluntarily and received no remuneration nor benefits from the charity. Objectives and ACtitio The objects for which the charity is established ar¢ the provision. or lStanCe in the provision in the HerTiard and Heuiard area of facilities for recreation and i)ther leisure time activities. such facilities being provided for the benefit of the public in the interests of s121 welfare so that their conditions of life may be improved. In accordance with these objects, the Trustees aim is to maintain leisure amd recreation facilities at Heniard Green. A¢hievements and Perforniance The planning and constnjction of Herri Green ad it5 faciliries represents a complex project that was conceived in 1995 and twk 15 years 10 bring to fruition. This required sigmificani commitment from a great many people. including in panicular the Herriard Patish Council and the Herriard Village Centre Collllnittee. The Trustees remain grateful to all those in Herriard and elsewhere who have and continue to support this. IAgal agreements for the occupation and use of Herriard Green Th¢ Heniard Esta has le&%ed the knd comptising H¢rriard Green to the chariry for 125 years from 25 March 2(KI9 with an initial premium of £40.C(N) and an ongoing ground rent of £120 p.& indexed 5 yearly. The Charity w&s obliged to carry out the agreed works to the agreed specification and maintain and insure the resulting works and premises. There are detailed conditions on the use of the site and restricting further development withoui the pemission of the HeTriard Ests, and the charity is responsible for all matters relating to the site for the trrn] of the lease. As well as the lease the use of the land is also restricted by the pkning approval and a sectioo 106 agemenl such that it can only be used for the activities and PIIIFM)ses now existing on site.
Herriard Village Charity Directors, and Trustees, Report (Continued) Facilitles and thelr Ongoing MaDagement at Herriard Green The facilities at Hertiatd Green comprise: Herriard Sports Pavilion, fwtball and cricket pitches, a crickei practice net. Liitle Meadows Nursery. two tennts courts. a children's play aa with equipment for trM)th toddlers and older children. parking (for the StK)rts Club. Nursery and general public use). nearly 2 km of hard paths for walking around the village. six benches and a table. extensive grassed open and fv planted areas all within a dog pr(K)f fence. an earth built cycle track and a wei area with a se&wnal pon The Trnstees have resolved that they do not wish to have day--daY responsibility for any part of Herriard Green and a num[ of agreements have therefore tren put in place to facilita thi5: The Sports Pavilion, piiche5 and tennis Court are leased to Herriard Swrts Club on full repairing and insuring tern. on a peppercorn renl. They will mainthin ihe buildings and facilities and make ihem available to people from Herriard and the surn)unding area. The Pavilion extension is also leased on full repairing and insuring iernjs, for a period of 3 years to a children's nursery for a commercial rent. Part of the rent is being paid to Herriard Sports Club in exchange for rights to 5hate their rooms and facilities. The site of the Children's Play area is let lo Herriard Parish Council which has ongoing responsibility for this area and has erected and owns the play equipment. On behalf of the Charity. Herriard Parish Council has agreed to manage the rest of Herriard Green, (being the grassland, paths. tre&$ and hedges) with all costs fvnded and reimbursed by the charity. Financlal Resdew Inveslmenrfunds The trustees have placed: £270.(KK) of the charity's funds with Gore Brown Investment Management who provide fund management inter alia to privale charities. The fund holding is outsourced to Pershing Limited as custodians. These funds had a value at 3 1st December 2023 of £439.732 (£430.(Y)2 in investments and £9,640 in cash) (2022.. £415.915). £50.(XX) of the charity's funds in The Charities Properry Fund. an authorised flmd investing in commercial property and managed by Savills Investsneni Managemeni Ltd. These funds had a value at 3 1st DecemlKr 2023 of £60.226 (2022.. £64.074). £50.(XK) of the charity's funds in COIF Charities ProFtrty Fund. an authorised fund investing in commercial property and managed by CCLA Investment Management Ltd. These funds had a value at 3 1st Dccember 2022 of £62.201 (2022: £66.334). It is the Trustee's thrget to grow these investments ai slighdy more than the ra* of inflation over the long tenn so as to preserve and enhance the charlty's ability to support its obje¢tives. To date that has been achieved in a benign investment climaie. The Trusiees are mindful of the need to keep a balanced and moderately caulious approach to these funds. Income and eApenditure during ihe yeor The main income for the year w&8 from rent and insurdnce Techarges receivable of £9.195 and investment income of £20,430. The landscape and play aa Mainnance costs remain the largest expense of the chariiy and this is expeaed continue. These will be eniirely fimded by annual income going forward. and it is expected Ihis cost will utilise most of the income available. No restrictrd ndS arose during the year. Publlc Benefit Statement The Trustees hereby stale. that they have complied with thetr duty to have due regard to the guidance on public benefiL published by the commission. in exer¢i5ing their werS and dutiGs.
Herriard Village Charity Directors, and Trustees, Report (Continued) Ihth ResnsIbIlitieS Chariry Law requires the trustees to prepare financial statrments for each fmancial year which give a true and fair view of the stale of affairs of the cbaTity and of its financial activities lor that period. In preparing those financial statements the trus are required to: (a) (b) (c) select suitable accounting tx)licies and then apply them consistently. make sound judgemenTS and ¢StiFnates that are reasonable and prudent; state whether appointed accounting standards and sthtements of recommended wactice have been followe(L subject to any departures disclosed and explained in the financiaI statetnents. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in busitw. (d) The trnstees are responsible for keeping proper accounting records which disclose with reasonable accura¢y at any time the fllwicial FK)sition of the chatity and to ¢oable them to ensure that the financial ststements comply WRth the Charities Act 1993. They are also responsible for safeguarding the assets of the Chty atid hence for taknng re&8onable steps for the prevention and detection of fraud or other irregularities. Signed on behalf of the oard of Directors on 15 August 2024:" John Jervoi8e Director
Herriard Village Charity Statement of Financial Activities (including summary income and expenditure account) for the year ended 31 December 2023 Total Funds (Unrestrletsl) Prior Year Funds Income Trading Actlvlties.. Rent 5.2(K) Insurance rrfharges Investpnent Income.. 1,195 886 Dividends - Listed Investments (managed by GBIM) Dividends- Property Funds Gain on sale of investments (managed by GBIM) Fair value adjustment of listed investsnents 9.961 6J41 4,128 8,867 6,049 1,184 7,120 Tolal 745 186 Ex ndlture Erpenditure on RaisinK Funds.. Fair value adjusthient of listed investments Investmenl management fees (GBIM) Insurance of let premises Ground rent 79,582 5J74 5.408 1.286 120 120 Depreciation of leasehold land Expendilure on Charitable Aciivities.. Donations io spons club Landscape maintenance Grants to nursery Oiher E¥pendilure.' Accountancy Stk Exchange and data Protection fe£s Legal fees 320 320 12JS5 6.427 118 2.567 Tolal Net Income l (Expenditure) (76,242)
Herriard Village Charity Balance sheet as at 31 December 2023 (Company No: 3857596) Nole 31 December 31 December 2023 2022 Mxed A&sets Tangible Assets Imvestments 3521M) 35,520 552A19 536,IX13 587,719 571.523 Current Assets Debrots IA91 692 C&sh at Bank and in Hand 36,491 47,326 3&082 48.018 Credfitors: Amounts Falling l)ue Within One Year (926) (5,954) Net Current A&sets 37.156 42,064 Total Net A&sets 624N5 613,587 Funds ofthe Charity Unrestricted Income Fund 624075 613,587 Total Fun 624m5 613,587 The company was entitled to exernNion from audit under s.477 of the Companies Act 2(Mkn relating to small comp)anies. The members have not required the company to oblain 8n audit in acc(Ydance with section 476 of the Cotnpanies Act 2(Kl6. The directors acknowledge their r¢stK)nsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordan¢e with the provisions applicable to small companies subject to the small companies. regime and in accordance with FRS102 SORP. Approv by the Board and signed on its behalf on 15 August 2024 by: AVV /1 L- JOI Jeryoise
Herriard Village Charity Notes to the financial statements Accounting policies Basps of 8ceountAng These financial slatemenls have been preped under ihe hislorical cost convention, the Statement of Recommended Practice: Accounting and Retx)rting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) and with the Financial Reporting Standard applicable in the United Kingdom (FRS 102) and with the Charitie5 Act 2011. The following principal accounting li¢leS have been applied: Recognition of Income: These are included in the Statement of Financial A1VItieS ("SoFA") when: the chariiy becomes entitled to the resources. it is more likely than not that th¢ trusiees will receive the resources: the monetary value can be Msu[cd with sufficient Teliability. Offsetting: There has been no offsetting of assets and liabilities. or income and expenses. unless required or pern)itted by the FRS 102 SORP or FRS 102. Grants and Donations: Grat]ts and dOnlonS are only included in the SOFA when the general income recognition criieria are met. Investment GafiLs And iAMes: This includes any realised or unrealised gains or k)sses on the sale of investments and any gain or loss resulting from revaluing investsnents to market value ai the end of the year. Tangible fixed assets Tangible fixed assets are sthted at purchase cost. together with any incidental costs of acquisition. Depreciation is provided at rntes calculaied write off the cosL less tImated residual value of each asset, over its expected useful ewnomi¢ life. ls follows: Leasehold Land- over life of the le (125 years). straight line Investments Flxed asset investhients in quoted shares. traded bonds and similar investments a valued ai initially at cost and subsequently at fair value (their market value) at the yearend da*. Fund Accoundng Unrestrithed funds are available for use ai the discretion of the trustres in furtherdnce of the general objectives of the chariry. Restricted ndS (of which there were none) would be subjea to restrictions on their expenditure as imposed by a donor or grant provider. Incoming Resources All incoming resources are included in the Sternent of financial activities when the charity is entitled io the income and the amount can b¢ quantified with reasonable accuracy. Ih)nations are included when receivable. The value of services provided by voluttieers h&% not been included in these accounts. Resources Expended Expenditure is recognised on an accruals bL%is as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered and is reported as part of expendiwre to which it relas. Charitable expendiiure includes those costs tncutred by the charity in the delivery of its activities and seryices for its benefjciartes. Governance costs include those costs ass(Kiaied with meeting the constitutional and Slatutory r4uirements of the charity.
Herriard Village Charity Notes to the fmancial statements (continued) Net Incoming Resour Year ended Year ended 31 December 31 December 2023 2022 Net incoming oUrCeS is stated afw charging: Depreciation of tsngible fixed &wts 320 320 Directors Remuneration and Related Party Transactions All directors gave their time voluniarily and Teceived no remunerdtioti nor benefits from the chaTity. Taxation The charity is exempi fn)m tax on Incon and gains fauing within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges for the year have arisen in the charity. Tangible fixed assets LeAsebold IAnd At the beginning and end of the year Deprnyallon At the begxnning of the year Depre¢iation 4.480 320 At the end of the year Net book value 4,8 At the end of the year At the kginning of the year 35,21K) 35,520 io
Herriard Village Charity Notes to the financial statements (continued) Investments 31 December 2023 31 December 2022 Investments held prlmarily for Investment relurn Listed invesimenLS under management The Charity Property Fund COIF Charities Property Fund 430,092 405.595 60226 64.074 62201 66,334 S52]9 536,IK)3 At 31 December 2023, the investment managers held an additional £9.640 (2022: £10,320) of the Charity's funds as Cash. This is iDcluded within bank and cash in the balance sheet. Debtors 31 December 2023 31 December 2022 Amounts falllng due withln one year Prepayments 1591 692 1591 692 Credltors falling due within one year 31 December 2023 31 December 2022 Amounts falling due within one year Deferred Income Accruals 92 3.954 926 5,954
Herriard Village Charity Notes to the fmancial statements (continued) Share capital The cPrIty is a priva* cornpany limited by guarante¢ and consequently does not have share capital, Each of the members is liable to contribute £10 towards the assets of the charity in the event of liquidation. 10 Charity Funds Brought Incon Expenditure Carried Forward Forward Current Year: UDrefjtrictol Funds Previous Year.. 613A87 36A75 (25A57) 624875 Unrestricted Funds 689.829 22.186 (98.428) 613.587 The UnStrICted funds are available to be spettt for any t[poSe of th¢ Charity. 12