Company registration number: 4229818 Charity registration number: 1088973 The Campden and District Peelers Trust (A company IiTnited by guarantee) Annual Report and Financial Statements for the Year Ended 30 June 2024
The Campden and Distrlct Peelers Trust Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t015
The Campden and Dlstrfct Peelers Trust Reference and Admlnlstratlve Detalls Trustees Mr J R Ellis Mr C Leese Mrs M E Fisher Mr M M Lindner Mrs A B Taylor Mr P Fiell Mr D Raby - resigned 31.10.23 Ms J Wilkinson appointed 11.07.23 Mr P Spink- appointed 11.07.23 Prlncipal Offlce and Reglstered Offlce Old Police Station High Street Chipping Campden Gloucestershire GL55 6HB The charlty is incorporated in England and Wales. Company Reglstration Number 4229818 Charity Registratfon Number 1088973 Bankers Lloyds Bank Plc 19 High Street Evesham Worcestershire WR114DQ COIF Charity Funds CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ Independent Examiner Daniel James Colwell The Old Bull Pens Sezincote Moreton-in-marsh GL56 9AW Page I
The Campden and Dfstrict Peelers Trust Trustees. Report The Trustees are pleased to present their report and the financial statements for the year ended 30 June 2024. Structure, Governance and Management al statu5 The Campden and District Peelers Trust is a company limited by guarantee, incorporated on 6 June 2001, and a registered charity, registered on 19 October 2001. It is governed by its Memorandum and Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1 each. Directors and Trustees The Directors of the charitable company ("the Trust") are its Trustees for the purpose5 of Charity Law and throughout this report are collectively referred to as the Trustees. In accordance with the Articles of A550ciation of the Trust, there must be between three and nine Trustees in office at any one time, inclusive. Chipping Campden Town Council has the power to appoint Trustees, provided that the number so appointed neither exceeds four, nor represents a majority. Trustee induction and trainin New Trustees are provided with copies of the Trust'5 objectives as well as the company's Memorandum and Articles of Association and are briefed by the chairman on the role of Directors and Trustee5. No formal training 15 provided to Trustees but they are encouraged to make themselves aware of their responsibilities by attending outside courses. Risk mana ement The Trustees have reviewed the major risks to which the charity is exposed and systems have been established to mitigate any impact that they may have on the Trust in the future. Or anisational structure The management of the Trust is undertaken by regular meetings of the Directors, which take place at approximately every three months. A House Manager 15 engaged by the Trust and is responsible for the day to day management and reports on daily matters to the Chairman. Ob'ectives and activities The objective5 of the Trust are to promote the benefit of the inhabitants of Chipping Campden and the surrounding area by associating together the inhabitants and the local authoritie5, voluntary and other organisations to advance education, social welfare and leisure time occupations, in particular by the provision of a comfflunity centre. The Trust meets this objective by leasing and managing the property known as the Old Police Station, High Street, Chipping Campden and sub-letting to organisatTons providing services for the benefit of local residents. It al50 makes available offices and meeting rooms for hire to local organisation5. Achievements and erformance The year has been a challenging one, with major repair5 to two of the roof pitches costlng almost £25,000, and the withdrawal of the Town Council's annual grant of £20,000, which ha5 been paid since the inception of the Trust, to provide support for below market rents for community organisations, tenancies. This has been offset by two anonymous donations of E10,000 and £4,000 from within the community. Page 2
The Campden and Dfstrfct Peelers Trust Trustees. Report There has also been a major problem with reliability of the Wi-Fi broadband system, which took some time to identify the problem and then rectify it. The enhanced system has worked reliably since then, but compensation had to be pald to some tenants who had to make alternative arrangements during the period. It starkly demonstrated the dependence of businesse5 to the reliability of the broadband system. All rooms in the building have been let throughout the year, but since the year end there has been one notice to terminate. The demand for small buslne55 premises remains strong, and we expect to re-let the room when it becomes vacant. Financial Revtew The Trust has a substantial deficit in the accounts. due to the issue5 Outlined above. The trustees are confident that the resulting reduction in reserves can be managed, and the high expenditure in the current year will not be repeated. In the longer term, the second part of the Trust's 125-year head lease with the Town Council, owner of the bullding, comes in to effect from April 2026, when the Council finalises repayment of the PWLB loan taken out when it purchased the property. The Trust's rent reduces significantly in April 2026 and 7S then subject to the three yearly review. The trustees are confident that the long-term financial sustainability of the Trust will be secure, despite the loss of the Council grant. Investment Polic The Trust's funds are. whenever possible, kept in interest or Investment bearing funds unless there are short term requirements. The Trustees have regard for the level of grants available when investing monies not immediately required for the Trust's objectives. Reserves Polic The unrestricted funds at 30 June 2024 were in surplus amounting to £16,181 (2023 E35,311 surplus). The Trust'5 reserves are currently unrestricted, being largely generated by operating surpluse5. While the structure of the building is good, and rooms are at present fully let, the Trust considers that reserves are necessary to provide for future voids in lettings, and significant adverse circumstances. Ideally the Trustees would like to have a higher level of reserve5. There were no restricted funds at 30 June 2024. Plans for Future Periods The Trust plans to continue to provide community facllltles to the ?nhab7tants of Chipping Campden and the surrounding communities in the Old Police Station. The Trust has no current plans to acquire any other property for this purpose but does not rule out this possibility at some time in the future. A review of m05t rents will be undertaken for implernentation from 1 July 2025. The Trust has a 125 year lease from the Town Council, but a new phase of the lease comes in to force in April 2026. This will have the effect of reducTng the rent payable by the Trust, but the rent will be subject to price escalation on a basis yet to be agreed. The effect should be to improve the Trust's flnancial position, and enable reseNes to be improved. Page 3
Trustees Trustees, who are D?rectors for the purpose of company law and Trustees for the purpose of charity law, who Seed during the year and up to the date of this report are set out on page 1. The trustees (who are also the directors of The Campden and District Peelers Trust for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with the United KTngdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under Cotnpany law the trustees must not approve the financial statements unless they are Satisfied that they give a true and fair view of the State of affairs of the charitable company and of its incoming resources and application of resources, including its income and exper)diture. for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently) observe the methods and principles in the Charitles SORP; 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 fTnancial statements; and prepare the financial Statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue Tn business. The trustees are re5pon5Tble for keeping adequate accounting records that are sufficient to show and explain the charitable company's trar)sactions and 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 asset5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Independent Examiners Daniel Colwell & Co were reappointed as Independent Examiners to the Trust during the year. This report has been prepared in accordance with the Statement of Recommended Practice for accountlng and reporting by charitie5 (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). The annual report was approved by the trustees of the charity on 281h November 2024 and signed on its behalf MrJ Trust Mrs A B Taylor Trustee Page 4
The Campden and District Peelers Trust Independent Examiners Report Report to the Trustees of The Campden and District Peelers Trust (charTty number 1088973) On the accounts for the year ended 30 June 2024 set out on pages 6 to 15 I report to the trustees on my examination of the accounts of the above charity for the year ended 30 June 2024. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5llbl of the Act. Independent Examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give5 me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts Set out in the Charitie5 {Accounts and Reports) Regulations 2008 other than any requirement that the account5 give a 'true and fair, view which is not a matter considered as part of an independent examination. 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. signed: Date: Daniel James Colwell FCCA CTA ATT Daniel Colwell & Co Chartered Certtfied Accountant Page 5
The Campden and Dlstrict Peelers Trust Statement of Flnancial Activities for the Year Ended 30 June 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Note Income and Endowments from: Donation5 and legacies Charitable activities Investment income 14,100 80,976 884 14,100 80,976 884 Total income 95,960 Expenditure on: Charitable activities 116,607 116 607 Total expenditure 116 607 116,607 Net income (20,6471 120,647} Realised and unreali5ed gains on investments Net movement in funds 1,517 {19,1301 119,130) Reconciliation of funds Total funds brought forward Total fund5 carried forward 35,311 18 16,181 Unrestricted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Investment income 15,000 75,504 1,052 15,000 75,504 Total income 91,556 Expenditure on: Charitable activities 85,292 85,292 Total expenditure 85,292 Net income 6,264 6,264 Loss on revaluation of investments 914 914 Net movement in funds 7,178 7,178 Reconciliatlon of funds Total funds brought forward Total funds carried forward 28,133 28,133 18 35,311 35,311 All of the charity's activities derive from continuing operations during the above two periods, The notes on pages 8 to 15 form an integral part of these financial statements Page 6
The Campden and Distrlct Peelers Trust (Reglstratlon number: 4229818) Balance Sheet as at 30 June 2024 2024 2023 Note Flxed assets Tangible assets Investments 13 14 3,804 11,325 5,439 30,247 Current assets Debtors Cash at bank and in hand 15 16 10,704 11,009 21,713 7,819 12,820 20,639 Credltors: Amounts falllng due wlthln one year 17 15,575 Net current (liabilities)la5sets 1,052 Net assets Funds of the charlty: Unrestricted Income funds Unrestricted funds Total funds 18 35,311 For the financial year ending 30 June 2024 the charlty was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The directors have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their responsibillties for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statetnents on pages 6 to 15 were approved by the trustee5, and authorised for issue on 28th November 2024 and signed on thelr behalf by: Tru The notes on pages 8 to 17 form an integral part of these financlal statements Page 7
The Campden and District Peelers Trust Notes to the Financial Statements for the Year Ended 30 June 2024 1 Charlty status The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: Old Police Station High Street Chipping Campden Gloucestershire GL55 6HB The principal place of business is: Old Po17ce Station High Street Chipping Campden Gloucestershire GL55 6HB 2 Accountlng policies Summary of signiflcant accounting pollcles and key accountlng estimates The principal accounting policies applied Tn the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless Otherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {effective 1 January 20151 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charitie5 Act 2011. Basls of preparation The Campden and District Peelers Trust meets the defin7tion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hT5torical cost or transaction value unle55 Otherwise stated in the relevant accounting policy notes. Going concern The trustees consider that there are no material uncertaintTes about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying valLAe of assets held by the charity. Exemptlon from preparlng a cash flow statement The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Page 8
The Campden and Dlstrict Peelers Trust Notes to the Financial Statements for the Year Ended 30 June 2024 Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognlsed as a liability and included on the balance sheet as deferred income to be released. Expendlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured rellably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's Use. Other support costs are allocated based on the spread of staff costs. Charitable actlvities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees, meetings and reimbursed expense5. Government grants Government grar)ts are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recogni5ed as deferred income. Taxatlon The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordlngly, the charity is potentially exempt from taxation in respect of income or capital gains received within categorie5 covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Depreclation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuatTon, less any estimated residual value, over their expected useful economic life as follows: Depreclatlon method and rate Straight line over 4 or 6 years Asset class Furniture and equipment Page 9
The Campden and District Peelers Trust Notes to the Financlal Statements for the Year Ended 30 June 2024 Flxed asset fnvestments Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised galns and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial ActiVTtie5 In the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of FTnancial Activities based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandlse sold or services performed in the ordinary course of business. Trade debtors are recogni5ed initially at the transactTon price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is establ75hed when there is objective evidence that the charity will not be able to collect all amounts due according to the original term5 of the recelvables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly Ifquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade credltors Trade credTtors are obligations to pay for goods or servlce5 that have been acquired in the ordlnary course of business from suppliers. Accounts payable are classified as current liabilities if the charity doe5 not have an unconditional right, at the end of the reportTng period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reportlng date, they are presented as non-current ITabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Fund structure Unrestricted income funds are general funds that are available for use at the trustees, discretion In furtherance of the objectives of the charity. 3 Income from donatlons and legactes Unrestrlcted funds General Total funds Donations and Grants, includlng capital grants; Donations 14,100 Total for 2024 Total for 2023 (Government grant) 15,000 15,000 Page 10
The Campden and District Peelers Trust Notes to the Flnanclal Statements for the Year Ended 30 June 2024 4 Income from charltsble activities Unrestrlcted funds General Total funds Letting and associated income Total for 2024 80,976 Total for 2023 5 Investment fncome Unrestrlcted funds General Total funds Other income from fixed asset investments Other investment income 513 371 513 371 Total for 2024 884 Total for 2023 1,052 6 Expendlture on charltable actlvltles Unrestrlcted funds General Total funds Note Premise5 running expenses Depreciation of tanglble fixed assets Governance costs 112,991 1,635 1,981 112,991 1,635 Total for 2024 116607 116,607 Total for 2023 85,292 85,292 Page11
The Campden and District Peelers Trust Notes to the Financlal Statements for the Year Ended 30 June 2024 7 Analysls of governance and support costs Governance costs Unrestricted funds General Total funds Independent examiner fees Preparation and examination of the financial statements Other governance costs 1,890 91 1,890 91 Total for 2024 1,981 Total for 2023 1,907 8 Net incorningloutgoing resources Net incomTng resources for the year include: 2024 2023 Depreciation of fixed assets 9 Trustees remuneration and expenses No trustees, nor any person5 connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 10 Staff costs There were no members of staff employed by the charity during the year (2023 - none). There were, therefore, no staff costs incurred during the year (2023 - £Nil). 11 Independent examiner's remuneratlon 2024 2023 Preparation and examination of the financFal statements 1,890 1,800 Page 12
The Campden and District Peelers Trust Notes to the Financial Statements for the Year Ended 30 June 2024 12 Taxation The charity is a registered charity and is therefore exempt from corporation tax. 13 Tanglble fixed assets Furnlture and equipment Total Cost At 1 July 2023 Additions 79,490 79,490 At 30 June 2024 79,490 Depreclatlon At 1 July 2023 Charge for the year At 30 June 2024 74,051 1,635 74,051 1,635 Net book value At 30 June 2024 3,804 At 30 June 2023 14 Flxed asset Investments 2024 2023 Other investments 11,325 24,808 Page 13
The Campden and District Peelers Trust Notes to the Financlal Statements for the Year Ended 30 June 2024 Other Investments Listed investments Total Cost or Valuation At 1 July 2023 Revaluation movement Disposals 24,808 1,517 15,000 24,808 1,517 At 30 June 2024 11,325 11,325 At 30 June 2023 24,808 24,808 15 Debtors 2024 2023 Trade debtors Prepayments 7,461 5,330 2,489 7,819 10,704 16 Cash and cash equivalents 2024 2023 Cash at bank 11,009 12,820 17 Credltors: amounts falllng due within one year 2024 2023 Trade creditors Other creditors 7,631 13,030 9,103 6,472 15,575 Page 14
The Campden and District Peelers Trust Notes to the Flnancial Statements for the Year Ended 30 June 2024 18 Funds Balance at 1 July 2023 Incoming resources Resources expended Balance at 30 June 2024 Unrestrlcted funds General 35,311 95,960 115 090 16,181 Balance at 1 July 2022 Incomlng resources Resources expended Balance at 30 June 2023 Unrestricted funds General 92,470 85,292 35,311 19 Analysls of net assets between funds Unrestricted Total funds at fund5 30 June General 2024 Tangible fixed assets Fixed asset investments Current assets Current liabilities 3,804 11,325 21,713 20,661 3,804 11,325 21,713 Total net assets 16,181 Unrestricted Total funds at funds 30 June General 2023 Tangible fixed assets Fixed asset investments Current assets Current liabilities 5,439 24,808 20,639 5,439 24,808 20,639 15,575 Total net assets 35,311 35,311 Page 15
The Campden and Dfstrlct Peelers Trust Detailed Statement of Financlal Actlvttfes for the Year Ended 30 June 2024 Total 2024 Total 2023 Income and Endowments from: Donat70ns and legacies lanalysed below) Charitable activities (analysed below) Investment income (analysed belowl Total income 14,100 80,976 15,000 75,504 95,960 91,556 Expenditure on: Charitable activities (analysed below) Total expenditure 116,607 85,292 116 607 85,292 Net income (20,647) 6,264 Gainl(lossl on revaluation of investments 1,517 914 Net rnovement in funds {19,130) 7,178 Reconclllatlon of funds Total funds brought foNard Total funds carried forward This page does not fomi part of the statutory financial statements. Page 16
The Campden and Dlstrlct Peelers Trust Detalled Statement of Flnanclal Actlvltles for the Year Ended 30 June 2024 Total 2024 Total 2023 Donations and legacies Chipping Campden Town Council Donations 15,000 14,100 15,000 Charitable activities Letting and associated income 80,976 80,976 Investment income Income from listed investments Investment income 513 371 955 97 Charitable activities Premises running expenses Depreclation of fixtures and fittings Independent examinerfs fee Bank charges and interest {112,991) 11,635) 11,890) 91 116607 (81,490) (1,895) (1,800) 107 This page does not form part of the statutory financial statements. Page 17