REGISTERED COMPANY NUMBER: 4282455 (England and Wales) REGISTERED CHARITY NUMBER: 1090420
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 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 2022
| 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 2022
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
The activities that were severely curtailed during the Covid lockdown have generally been resumed. Woods maintenance by our team of volunteers has re-commenced. The Open Meeting at the Unitarian Meeting House was held in October with speaker Paul Scott of the Sir Joseph Banks Society. Professor Jonathan Van-Tamm has been approached to become a patron. The gift of 32.5 acres of Dion’s Land (behind the Pilgrim Hospital) has led to a major expenditure from reserved funds. Planning permission has been obtained and paths, a pond and large amounts of grassland have been created. We await the final grant confirmation from the Forestry Commission before tree planting.
Volunteers
The volunteers are the trustees and they give as much time as required to run the charity.
FINANCIAL REVIEW
Financial position
Some £32,000 was spent on Woods Maintenance and £1,175 was generated from the wood of felled trees. Twenty ash internments/burials or plot reservations were recorded in the Year for the Green Burial site. Expenditure from reserved funds amounted to £132,628.
Reserves policy
The charity has total reserves of £789,688 at 31 March 2022 of which restricted reserves amount to £105,369 and general reserves amount to £684,319, which includes £570,488 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 continuing to develop Dion’s land and monitor the land availability within our strategic area.
.
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 2022
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.
-
Acquisition and strategy committee
-
Supporters promotion and publicity committee
-
Public utilities and mapping committee
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 2022
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:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether the policies adopted are in accordance with the Companies Act 2006 and with applicable
-
accounting standards and statements of recommended practices, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to assume that the
-
charity will continue in operation.
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 10 October 2022 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 2022 set out on pages five to thirteen.
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:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
-
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other 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
-
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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
10 October 2022
Page 4
THE BOSTON WOODS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 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 £ 43,444 19,791 27 539 63,801 1,622 19,176 55,038 75,836 (12,035) 116,619 104,584 579,735 684,319 |
Restricted Fund £ 12,500 - - - 12,500 - 16,958 - 16,958 (4,458) (116,619) (121,077) 226,446 105,369 |
2022 Total Funds £ 55,944 19,791 27 539 76,301 1,622 36,134 55,038 92,794 (16,493) - (16,493) 806,181 789,688 |
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 |
The notes form part of these financial statements
Page 5
THE BOSTON WOODS TRUST REGISTERED CHARITY NUMBER (1090420)
BALANCE SHEET AT 31 MARCH 2022
| 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 £ 575,791 64 109,352 109,416 (888) 108,528 684,319 684,319 |
Restricted Fund £ - - 105,369 105,369 - 105,369 105,369 105,369 |
2022 Total Funds £ 575,791 64 214,721 214,785 (888) 213,897 789,688 789,688 684,319 105,369 789,688 |
2021 Total Funds £ 509,056 |
|---|---|---|---|---|
| 30 297,923 |
||||
| 297,953 (828) |
||||
| 297,125 | ||||
| 806,181 | ||||
| 806,181 | ||||
| 579,735 226,446 |
||||
| 806,181 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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 10 October 2022 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 2022
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 2022
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 Wyberton Parish Council Postcode Lottery Groundwork UK DONATIONS AND LEGACIES – RESTRICTED Donations The above restricted donations are made up as follows: For signs For maintenance For trees to be planted For pet memorials For bird boxes For Dion’s Woods Pond 3. OTHER TRADING ACTIVITIES Miscellaneous sales Sale of wood Rent Burial site income |
2022 £ 13,680 - 1,149 22,852 820 4,943 43,444 2022 £ 1,000 - 1,213 155 19,984 500 22,852 2022 £ 12,500 2022 £ 2,000 500 - - - 10,000 12,500 2022 £ 336 1,175 1,030 17,250 19,791 |
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 |
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 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 Professional Fees Independent examination 7. CHARITABLE ACITIVITIES COSTS - RESTRICTED Planting, maintenance and drainage Seating and plaques Woodland carvings Professional fees |
2022 £ 27 2022 £ 539 539 2022 £ 319 928 68 10 297 1,622 2022 £ 15,386 1,720 1,182 888 19,176 2022 £ 14,930 - - 2,028 16,958 |
2021 £ 75 |
|---|---|---|
| 2021 £ 372 |
||
| 372 | ||
| 2021 £ 351 127 13 10 178 |
||
| 679 | ||
| 2021 £ 18,631 68 - 828 |
||
| 19,527 | ||
| 2021 £ - - - - |
||
| - |
Page 9
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
8. OTHER EXPENDITURE
| Depreciation – owned assets Burial site costs |
2022 £ 49,966 5,072 55,038 |
2021 £ 44,103 1,094 |
|---|---|---|
| 45,197 |
9. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022, nor for the year ended 31 March 2021.
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 £ 27,225 11,384 75 372 39,056 679 19,527 45,197 65,403 (26,347) 606,082 (26,347) 579,735 |
Restricted Fund £ - - - - - - - - - - 226,446 - 226,446 |
Total Funds £ 27,225 11,384 75 372 |
|---|---|---|---|
| 39,056 | |||
| 679 19,527 45,197 |
|||
| 65,403 | |||
| (26,347) | |||
| 832,528 (26,347) |
|||
| 806,181 |
Page 10
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
11. TANGIBLE FIXED ASSETS
| COST At 1 April 2021 Additions At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2021 At 31 March 2022 |
Fixtures and Fittings £ 6,314 - 6,314 3,651 666 4,317 2,663 1,997 |
Plant and Machinery £ 10,450 - 10,450 6,042 1,102 7,144 4,408 3,306 |
Freehold Property £ 820,199 116,701 936,900 318,214 48,198 366,412 501,985 570,488 |
Long Leasehold £ 456 - 456 456 - 456 - - |
Totals £ 837,419 116,701 |
|---|---|---|---|---|---|
| 954,120 | |||||
| 328,363 49,966 |
|||||
| 378,329 | |||||
| 509,056 | |||||
| 575,791 |
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 Pathways – 2022 year end Ponds – 2022 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 85,026 31,675 936,900 |
|---|---|
Page 11
THE BOSTON WOODS TRUST
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2022
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors Trade debtors REDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors |
2022 £ 64 - 64 2022 £ 888 |
2021 £ - 30 |
|---|---|---|
| 30 | ||
| 2021 £ 828 |
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 1.4.21 £ 579,735 226,446 806,181 e as follows: Incoming Resources £ 63,801 12,500 76,301 |
Net movement in funds £ (12,035) (4,458) (16,493) Resources Expended £ (75,836) (16,958) (92,794) |
Transfers between funds £ 116,619 (116,619) - Transfers between funds £ 116,619 (116,619) - |
At 31.3.22 £ 684,319 105,369 |
|---|---|---|---|---|
| 789,688 | ||||
| Movement in funds £ 104,584 (121,077) |
||||
| (16,493) |
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 maintenance.
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 2022
| 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 Professional fees Other Depreciation of tangible fixed assets Burial site costs Total resources expended Net (expenditure)/income |
2022 £ 25,680 1,149 23,352 820 4,943 55,944 336 1,175 1,030 17,250 19,791 27 - 539 76,301 319 928 68 297 10 1,622 30,316 1,720 - 888 3,210 36,134 49,966 5,072 55,038 92,794 (16,493) |
2021 £ 18,173 1,271 2,611 1,000 4,170 |
|---|---|---|
| 27,225 439 1,500 20 9,425 |
||
| 11,384 75 - 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) |
This page does not form part of the statutory accounts
Page 13