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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 4282455 (England and Wales) REGISTERED CHARITY NUMBER: 1090420

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR THE BOSTON WOODS TRUST

Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA

THE BOSTON WOODS TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13

THE BOSTON WOODS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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) (effective 1 January 2015).

The company was incorporated on 6 September 2001 and registered as a charity on 4 February 2002.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association.

The company is a registered charity with the principal aim of developing, and thereafter maintaining, a sweeping woodland recreational area to the north, west and south of Boston in Lincolnshire.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The object of the company as defined in its Memorandum and Articles of Association is to promote the conservation, preservation, improvement and maintenance of woodlands in the area of Boston, Lincolnshire and its surroundings by the planting, conservation of, restoration of and re-establishment of trees and in particular broad-leaved trees and plants and also encourage all forms of wildlife and thereby to secure and enhance the enjoyment by the public of the natural environment of those territories.

Activities and achievements

Activities during the year were severely curtailed by the Covid pandemic. The proposed equivalent to the June Fun Day and the Open meeting at the Unitarian Meeting house were both cancelled. Woods maintenance by our volunteers was temporarily suspended.

On a positive note, we were awarded the “Green Team of the Year” by Radio Lincolnshire which was presented to us by Melvyn Prior of Radio Lincolnshire.

Volunteers

The volunteers are the trustees and they give as much time as required to run the charity. We have seen a significant increase in their number over the year.

FINANCIAL REVIEW

Financial position

Some £18,000 was spent on Woods Maintenance and £1,500 was generated from the wood of felled trees. Ten burials or plot reservations were recorded in the Year for the Green Burial site. There was no expenditure from reserved funds.

Reserves policy

The charity has total reserves of £806,181 at 31 March 2021 of which restricted reserves amount to £226,446 and general reserves amount to £579,735, which includes £501,985 of land held by the charity. The present level of reserves is considered adequate, although further land acquisitions will require further funds.

FUTURE PLANS

We are in receipt of a gift of 32.5 acres of land to create a wood nature reserve, with a promise of a further 4.5 acres as part of the same parcel. This is a significant area of land in a strategic position. All necessary planning applications have been instigated.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Memorandum and Articles of Association were amended by special resolution and registered at Companies House on 7 February 2017.

Page 1

THE BOSTON WOODS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The directors are the members and are also trustees. The directors take advice and direction from other trustees listed below, who are neither directors nor members, and have no executive power to act alone:

Mr R W Austin

The role of this non director trustees is to advise, guide and generate support for the objectives of the company. These non director trustees do this through the following meetings at which at least one director is present.

Subscribing supporters, volunteers and volunteer groups have no power and are not represented at meetings of the company.

Appointment of Trustees

Suitable candidates are proposed at the quarterly trustees meetings. In addition there are representatives from Lincolnshire County Council, Boston Borough Council, RSPB and Lincs Wildlife Trust.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

4282455 (England and Wales)

Registered Charity number

1090420

Registered office

Fydell House South Square Boston Lincolnshire PE21 6HU

Trustees

A B Isaac G Danby Dr C Elwood S P Elwood J B Debnam I Nixon Mrs F Brooks

Company Secretary

J B Debnam

Independent examiner Nicola Lenton FCCA

Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA

Page 2

THE BOSTON WOODS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Statement of trustees' responsibilities

The trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the financial activities of the charity and of its financial position at the end of that year. In preparing those financial statements, the trustees are required to:

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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 4 October 2021 and signed on its behalf by:

J B Debnam - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BOSTON WOODS TRUST

I report on the accounts for the year ended 31 March 2021 set out on pages five to twelve.

Responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’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) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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.

NICOLA LENTON FCCA

Independent Examiner

Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA

4 October 2021

Page 4

THE BOSTON WOODS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment Income
4
Fundraising Income
5
Total
EXPENDITURE ON
Raising funds
6
Charitable acitivites
Woodland development and maintenance
7
Other
8
Total
NET (EXPENDITURE)/INCOME
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Un
restricted
Fund
£
27,225
11,384
75
372
39,056
679
19,527
45,197
65,403
(26,347)
-
(26,347)
606,082
579,735		 Restricted
Fund
£
-
-
-
-
-
-
-
-
-
-
-
-
226,446
226,446		 2021
Total
Funds
£
27,225
11,384
75
372
39,056
679
19,527
45,197
65,403
(26,347)
-
(26,347)
832,528
806,181		 2020
Total
Funds
£
66,871
10,452
147
511
77,981
853
19,336
80,163
100,352
(22,371)
-
(22,371)
854,899
832,528

The notes form part of these financial statements

Page 5

THE BOSTON WOODS TRUST REGISTERED CHARITY NUMBER (1090420)

BALANCE SHEET AT 31 MARCH 2021

Note
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS/(LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Un
Restricted
Fund
£
509,056
30
71,477
71,507
(828)
70,679
579,735
579,735		 Restricted
Fund
£
-
-
226,446
226,446
-
226,446
226,446
226,446		 2021
Total
Funds
£
509,056
30
297,923
297,953
(828)
297,125
806,181
806,181
579,735
226,446
806,181		 2020
Total
Funds
£
547,835
451
285,034
285,485
(792)
284,693
832,528
832,528
606,082
226,446
832,528

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and in accordance with FRS102 SORP.

The financial statements were approved by the Board of Trustees on 04 October 2021 and were signed on its behalf by:

A B Isaac -Trustee

The notes form part of these financial statements

Page 6

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Incoming resources

All income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt. Where a claim for repayment of income has or will be made, such income is grossed for the tax recoverable.

Grants are recognised in the Statement of Financial Activities when the conditions for receipt have been met.

Donations are reported gross and are accounted for on a receivable basis.

Donated goods are accounted for on a receivable basis, they are included in income and expenditure.

Donated assets are given a value based on the best estimate of the market value of the asset and shown as a donation in the year.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Fixed assets and depreciation

Fixed assets are stated at cost. Depreciation is not charged on freehold land.

The pathways have been depreciated straight line over 5 years.

The costs incurred on leasehold land have been written down to a nominal value £1.

All costs of land preparation, tree planting, seeding etc are written off to revenue as incurred.

Plant and Machinery and Fixtures and Fittings are depreciated at 25% reducing balance over their estimated useful lives.

Page 7

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

2. DONATION AND LEGACIES – UNRESTRICTED

Donations
Donations of goods
Gift aid
Grants
Adopt a Tree
Subscriptions
Grants received, included in the above are as follows:
RPA Woodland improvement
RPA English Woodland Scheme
RPA Woodland Creation
DONATIONS AND LEGACIES – RESTRICTED
Donations
RPA RDPE Leader projects
Co-Op ring fenced funds
The above restricted donations are made up as follows:
For pathways
For wood sculptures
For trees to be planted
For pet memorials
For bird boxes
3.
OTHER TRADING ACTIVITIES
Miscellaneous sales
Sale of wood
Rent
Burial site income		 2021
£
18,125
48
1,271
2,611
1,000
4,170
27,225
2021
£
1,000
452
1,159
2,611
2021
£
-
-
-
-
2021
£
-
-
-
-
-
-
2021
£
439
1,500
20
9,425
11,384		 2020
£
16,807
-
1,062
1,235
-
4,167
23,271
2020
£
570
475
190
1,235
2020
£
1,049
39,139
3,412
43,600
2020
£
39,139
3,412
750
264
35
43,600
2020
£
902
-
-
9,550
10,452

Page 8

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

4. INVESTMENT INCOME

Deposit account interest
5.
FUNDRAISING INCOME
Summer event
Sale of Christmas Cards
6.
RAISING FUNDS
Raising Donations and legacies
Insurance
Postage and stationery
Sundries
Lease re Westgate Woods
Christmas Cards
7.
CHARITABLE ACITIVITIES COSTS - UNRESTRICTED
Planting, maintenance and drainage
Seating and plaques
Signs
Independent examination
Donations		 2021
£
75
2021
£
-
372
372
2021
£
351
127
13
10
178
679
2021
£
18,631
68
-
828
-
19,527		 2020
£
147
2020
£
223
288
511
2020
£
383
212
13
10
235
853
2020
£
13,802
281
-
792
-
14,875

Included in the above figure for planting, maintenance and drainage is £48 of donated goods, (2020 – NIL)

7. CHARITABLE ACITIVITIES COSTS - RESTRICTED

Planting, maintenance and drainage
Seating and plaques
Woodland carvings		 2021
£
-
-
-
-		 2020
£
750
299
3,412
4,461

Page 9

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

8. OTHER EXPENDITURE

Depreciation – owned assets
Burial site costs		 2021
£
44,103
1,094
45,197		 2020
£
78,566
1,597
80,163

9. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021, nor for the year ended 31 March 2020.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Fundraising income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Woodland development and maintenance
Other – Depreciation
Total
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
Movement between funds
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Fund
£
23,271
10,452
147
511
34,381
853
14,875
80,163
95,891
(61,510)
604,615
1,467
606,082		 Restricted
Fund
£
43,600
-
-
-
43,600
-
4,461
-
4,461
39,139
250,284
(23,838)
226,446		 Total
Funds
£
66,871
10,452
147
511
77,981
853
19,336
80,163
100,352
(22,371)
854,899
(22,371)
832,528

Page 10

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2020
At 31 March 2021		 Fixtures
and
Fittings
£
6,314
-
6,314
2,763
888
3,651
3,551
2,663		 Plant
and
Machinery
£
10,450
-
10,450
4,572
1,470
6,042
5,878
4,408		 Freehold
Property
£
814,875
5,324
820,199
276,469
41,745
318,214
538,406
501,985		 Long
Leasehold
£
456
-
456
456
-
456
-
-		 Totals
£
832,095
5,324
837,419
284,260
44,103
328,363
547,835
509,056

At the balance sheet date, the Charity held 6 separate land parcels, located at Fenside Road, Boston and Wyberton, Boston. All areas of land are freehold except for the 8.9 acres at Fenside Road, which is held under a 99 year lease on a peppercorn rent from Boston Borough Council and 23.5 acres at Wyberton, Boston leased from The Woodland Trust.

27.44 acres at Wyberton, Boston
16.165 acres at Wyberton, Boston
12.203 acres at Fenside, Boston West
8.9 acres at Fenside, Boston West
23.5 acres at Wyberton, Boston
6.25 Acres, Wyberton
3.9 Acres, Wyberton
10.14 acres at Fenside, Boston
Pathways – 2016 year end
Pathways – 2017 year end
Pathways – 2018 year end
Pathways – 2020 year end
Pathways – 2021 year end		 £
140,224
93,540
57,490
-Leasehold
-Leasehold
19,181
22,634
104,698
200,840
46,147
31,721
98,400
5,324
820,199

Page 11

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2021

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Trade debtors
REDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors		 2021
£
-
30
30
2021
£
828		 2020
£
351
100
451
2020
£
792

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14. MOVEMENT IN FUNDS

Unrestricted funds
General funds
Restricted funds
Restricted
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General funds
Restricted funds
Restricted
TOTAL FUNDS		 At 1.4.20
£
606,082
226,446
832,528
e as follows:
Incoming
Resources
£
39,056
-
39,056		 Net
movement
in funds
£
(26,347)
-
(26,347)
Resources
Expended
£
(65,403)
-
(65,403)		 Transfers
between
funds
£
-
-
-
Transfers
between
funds
£
-
-
-		 At 31.3.21
£
579,735
226,446
806,181
Movement
in funds
£
(26,347)
-
(26,347)

Net movement in funds, included in the above are as follows:

Restricted funds are donations that have been received for a specific purpose, mainly for the purchase of new land parcels, spinneys and play equipment.

15. RELATED PARTY DISCLOSURES

During the year there were no loans made from directors to the company.

Page 12

THE BOSTON WOODS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Grants
Adopt a Tree
Subscriptions
Other trading activities
Miscellaneous sales
Sale of wood
Rent
Burial site sales
Investment income
Deposit account interest
Fundraising income
Summer event
Sale of Christmas cards
Total incoming resources
EXPENDITURE
Raising donations and legacies
Insurance
Postage and stationery
Sundries
Christmas Cards
Lease re Westgate Woods
Charitable activities
Planting, maintenance and drainage
Seating
Signs
Independent examination fees
Donations
Other
Depreciation of tangible fixed assets
Burial site costs
Total resources expended
Net (expenditure)/income		 2021
£
18,173
1,271
2,611
1,000
4,170
27,225
439
1,500
20
9,425
11,384
75
-
372
372
39,056
351
127
13
178
10
679
18,631
68
-
828
-
19,527
44,103
1,094
45,197
65,403
(26,347)		 2020
£
17,856
1,062
43,786
-
4,167
66,871
902
-
-
9,550
10,452
147
223
288
511
77,981
383
212
13
235
10
853
17,964
580
-
792
-
19,336
78,566
1,597
80,163
100,352
(22,371)

This page does not form part of the statutory accounts

Page 13