Herriard Village Charity (a company limited by guarantee)
Annual Report and Accounts for the year ended 31 December 2024
Charity Number: 1080169
Herriard Village Charity
Annual Report and Accounts
for the year ended 31 December 2024
Contents
Reference and Administrative Information........................................................................................................... 3 Trustees and Directors’ Report ............................................................................................................................. 4 Statement of Financial Activities .......................................................................................................................... 7 Balance Sheet........................................................................................................................................................ 8 Notes to the Financial Statements ......................................................................................................................... 9
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Herriard Village Charity
Reference and Administrative Information
Charity Name Herriard Village Charity
Company Number 3857596
Charity Number 1080169
Directors and Trustees
John Jervoise (Chairman) Kay Linnell (Treasurer) Antony Connell Gareth Davies Simon Wills
Secretary Kay Linnell
Registered Office Brick Kiln Cottage The Avenue Herriard Hampshire RG25 2PR
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Herriard Village Charity
Directors’ and Trustees’ Report
The directors and trustees present their annual report on the affairs of the charity together with the financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s Trust Deed, applicable law and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102).
Directors and Trustees
The directors who served during the year were:
J T L Jervoise K Linnell W H Ives (Died 21 May 2024) A Connell G Davies S Wills
Structure, Governance and Management
The charity is a company limited by guarantee incorporated on 12 October 1999 and registered as a charity on 31 March 2000. The company was established under a memorandum of association which establishes its objects and powers and is governed under its articles of association. In the event of the company being wound up, the members are required to contribute an amount not exceeding £10.
The directors of the company are also charity trustees for the purposes of charity law. Appointment of trustees is by approval of the trustees. The trustees are also to ensure that the board of trustees comprises persons nominated by Herriard Estate, by the Herriard Parish Council and by the Herriard Sports Club, together with a person with the skills needed to act as finance director. Under the requirements of the Articles of Association, the number of directors shall not be less than three and one-third of the directors retire by rotation at each AGM. All directors give their time voluntarily and received no remuneration nor benefits from the charity.
Objectives and Activities
The objects for which the charity is established are the provision, or assistance in the provision in the Herriard and Herriard area of facilities for recreation and other leisure time activities, such facilities being provided for the benefit of the public in the interests of social welfare so that their conditions of life may be improved. In accordance with these objects, the Trustees aim is to maintain leisure and recreation facilities at Herriard Green.
Achievements and Performance
The planning and construction of Herriard Green and its facilities represents a complex project that was conceived in 1995 and took 15 years to bring to fruition. This required significant commitment from a great many people, including in particular the Herriard Parish Council and the Herriard Village Centre Committee. The Trustees remain grateful to all those in Herriard and elsewhere who have and continue to support this.
Legal agreements for the occupation and use of Herriard Green
The Herriard Estate has leased the land comprising Herriard Green to the charity for 125 years from 25[th] March 2009 with an initial premium of £40,000 and an ongoing ground rent of £120 p.a. indexed 5 yearly. The Charity was 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 without the permission of the Herriard Estate, and the charity is responsible for all matters relating to the site for the term of the lease. As well as the lease terms the use of the land is also restricted by the planning approval and a section 106 agreement, such that it can only be used for the activities and purposes now existing on site.
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Herriard Village Charity
Directors’ and Trustees’ Report (Continued)
Facilities and their Ongoing Management at Herriard Green
The facilities at Herriard Green comprise: Herriard Sports Pavilion, football and cricket pitches, a cricket practice net, Little Meadows Nursery, two tennis courts, a children’s play area with equipment for both toddlers and older children, parking (for the Sports 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 tree planted areas all within a dog proof fence, an earth built cycle track and a wet area with a seasonal pond.
The Trustees have resolved that they do not wish to have day-to-day responsibility for any part of Herriard Green and a number of agreements have therefore been put in place to facilitate this:
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The Sports Pavilion, pitches and tennis court are leased to Herriard Sports Club on full repairing and insuring terms, on a peppercorn rent. They will maintain the buildings and facilities and make them available to people from Herriard and the surrounding area.
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The Pavilion extension is also leased on full repairing and insuring terms, 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 share their rooms and facilities.
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The site of the Children’s Play area is let to Herriard Parish Council which has ongoing responsibility for this area and has erected and owns the play equipment.
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On behalf of the Charity, Herriard Parish Council has agreed to manage the rest of Herriard Green, (being the grassland, paths, trees and hedges) with all costs funded and reimbursed by the charity.
Financial Review
Investment funds
The trustees have placed:
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£270,000 of the charity’s funds with Gore Brown Investment Management who provide fund management inter alia to private charities. The fund holding is outsourced to Pershing Limited as custodians. These funds had a value at 31 December 2024 of £473,625 (£472,455 in investments and £1,170 in cash) (2023: £439,732).
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£50,000 of the charity’s funds in The Charities Property Fund, an authorised fund investing in commercial property and managed by Savills Investment Management Ltd. These funds had a value at 31 December 2024 of £60,561 (2023: £60,226).
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£50,000 of the charity’s funds in COIF Charities Property Fund, an authorised fund investing in commercial property and managed by CCLA Investment Management Ltd. These funds had a value at 31 December 2024 of £62,655 (2023: £62,201).
It is the Trustee’s target to grow these investments at slightly more than the rate of inflation over the long term so as to preserve and enhance the charity’s ability to support its objectives. To date that has been achieved in a benign investment climate. The Trustees are mindful of the need to keep a balanced and moderately cautious approach to these funds.
Income and expenditure during the year
The main income for the year was from rent and insurance recharges receivable of £8,792 and investment income of £25,873. The landscape and play area maintenance costs remain the largest expense of the charity and this is expected to continue. These will be entirely funded by annual income going forward, and it is expected this cost will utilise most of the income available.
No restricted funds arose during the year.
Public Benefit Statement
The Trustees hereby state, that they have complied with their duty to have due regard to the guidance on public benefit, published by the commission, in exercising their powers and duties.
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Herriard Village Charity
Directors’ and Trustees’ Report (Continued)
Trustees Responsibilities
Charity 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 charity and of its financial activities for that period. In preparing those financial statements the trustees are required to:
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(a) select suitable accounting policies and then apply them consistently;
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(b) make sound judgements and estimates that are reasonable and prudent;
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(c) state whether appointed accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; and
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(d) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.
Signed on behalf of the Board of Directors on 28 July 2025:
John Jervoise Director
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Herriard Village Charity
Statement of Financial Activities (including summary income and expenditure account) for the year ended 31 December 2024
| for the year ended 31 December 2024 | |
|---|---|
| Income Trading Activities: Rent Insurance recharges Investment Income: Dividends – Listed Investments (managed by GBIM) Dividends – Property Funds Gain on sale of investments (managed by GBIM) Fair value adjustment of listed investments Total Expenditure Expenditure on Raising Funds: Fair value adjustment of listed investments Investment management fees (GBIM) Insurance of let premises Ground rent Depreciation of leasehold land Expenditure on Charitable Activities: Donations to sports club Landscape maintenance Grants to nursery Other Expenditure: Accountancy Stock Exchange and data protection fees Total Net Income / (Expenditure) |
Total Funds (Unrestricted) £ Prior Year Funds £ |
| 8,000 8,000 792 1,195 12,809 9,961 7,329 6,341 5,734 4,128 22,129 7,120 |
|
| 56,793 36,745 |
|
| - - 5,991 5,374 1,489 1,588 160 120 320 320 1,000 5,000 19,161 12,355 600 660 40 40 |
|
| 28,761 25,457 |
|
| 28,032 11,288 |
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Herriard Village Charity
Balance sheet as at 31 December 2024
(Company No: 3857596)
| Note Fixed Assets Tangible Assets 5 Investments 6 Current Assets Debtors 7 Cash at Bank and in Hand Creditors:Amounts Falling Due Within One Year 8 Net Current Assets Total Net Assets Funds of the Charity Unrestricted Income Fund Total Funds |
31 December 2024 £ 31 December 2023 £ |
|---|---|
| 34,880 35,200 595,671 552,519 |
|
| 630,551 587,719 1,780 1,591 32,324 36,491 |
|
| 34,104 38,082 (11,748) (926) |
|
| 22,356 37,156 |
|
| 652,907 624,875 |
|
| 652,907 624,875 |
|
| 652,907 624,875 |
The company was entitled to exemption from audit under s.477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities 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 accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS102 SORP.
Approved by the Board and signed on its behalf on 28 July 2025 by:
John Jervoise Director
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Herriard Village Charity
Notes to the financial statements
1 Accounting policies
Basis of accounting
These financial statements have been prepared under the historical cost convention, the Statement of Recommended Practice: Accounting and Reporting 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 Charities Act 2011.
The following principal accounting policies have been applied:
Recognition of Income:
These are included in the Statement of Financial Activities ("SoFA") when:
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the charity becomes entitled to the resources;
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it is more likely than not that the trustees will receive the resources;
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the monetary value can be measured with sufficient reliability.
Offsetting:
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and Donations:
Grants and donations are only included in the SoFA when the general income recognition criteria are met.
Investment Gains and Losses:
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Tangible fixed assets
Tangible fixed assets are stated at purchase cost, together with any incidental costs of acquisition. Depreciation is provided at rates calculated to write off the cost, less estimated residual value of each asset, over its expected useful economic life, as follows:
Leasehold Land – over life of the lease (125 years), straight line
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year-end date.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds (of which there were none) would be subject to restrictions on their expenditure as imposed by a donor or grant provider.
Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Donations are included when receivable. The value of services provided by volunteers has not been included in these accounts.
Resources Expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT that cannot be fully recovered and is reported as part of expenditure to which it relates. Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity.
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Herriard Village Charity
Notes to the financial statements (continued)
2 Net Incoming Resources
| 2 Net Incoming Resources |
||
|---|---|---|
| Year ended | Year ended | |
| 31 December | 31 December | |
| 2024 | 2023 | |
| £ | £ | |
| Net incoming resources is stated after charging: | ||
| Depreciation of tangible fixed assets | 320 | 320 |
3 Directors Remuneration and Related Party Transactions
All directors gave their time voluntarily and received no remuneration nor benefits from the charity.
4 Taxation
The charity is exempt from tax on income and gains falling 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.
5 Tangible fixed assets
| 5 Tangible fixed assets |
|
|---|---|
| Cost At the beginning and end of the year Depreciation At the beginning of the year Depreciation At the end of the year Net book value At the end of the year At the beginning of the year |
Leasehold Land £ |
| 40,000 4,800 320 |
|
| 5,120 | |
| 34,880 | |
| 35,200 |
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Herriard Village Charity
Notes to the financial statements (continued)
| 6 Investments Investments held primarily for investment return Listed investments under management The Charity Property Fund COIF Charities Property Fund |
31 December 2024 £ 31 December 2023 £ |
|---|---|
| 472,455 430,092 60,561 60,226 62,655 62,201 |
|
| 595,671 552,519 |
At 31 December 2023, the investment managers held an additional £9,640 (2022: £10,320) of the Charity’s funds as cash. This is included within bank and cash in the balance sheet.
7 Debtors
| 7 Debtors |
|
|---|---|
| Amounts falling due within one year Prepayments |
31 December 2024 £ 31 December 2023 £ |
| 1,780 1,591 |
|
| 1,780 1,591 |
8 Creditors falling due within one year
| 8 Creditors falling due within one year |
|
|---|---|
| Amounts falling due within one year Deferred Income Accruals |
31 December 2024 £ 31 December 2023 £ |
| 2,000 - 9,748 926 |
|
| 11,748 926 |
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Herriard Village Charity
Notes to the financial statements (continued)
9 Share capital
The charity is a private company limited by guarantee 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
| Current Year: Unrestricted Funds Previous Year: Unrestricted Funds |
Brought Forward £ Income £ Expenditure £ Carried Forward £ |
|---|---|
| 624,875 56,793 (28,761) 652,907 613,587 36,475 (25,457) 624,875 |
The unrestricted funds are available to be spent for any purpose of the Charity.
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