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2023-03-31-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 2023 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 2023

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 2023

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 2023. 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

Woods maintenance is continuing with our dedicated volunteers. Having eventually received the Forestry Commission Grant, Dion’s land has been planted with around 17000 trees and the project is now nearly completed. This has been a major achievement with our volunteers and the free time of members of the public. The open meeting was held in October at the Unitarian Meeting House with the speaker Sandra Varga of the College of Science, Lincoln. Professor Jonathan Van Tamm has accepted the invitation to become a Patron.

Volunteers

The volunteers are the trustees and they give as much time as required to run the charity.

FINANCIAL REVIEW

Financial position

Woods maintenance expenditure has increased to cater for the enhanced acreage. £701 was generated from the sale of felled trees. Seven ash internments/burials or plot reservations were recorded in the Year for the Green Burial site. Expenditure from reserved funds amounted to £98,607.

Reserves policy

The charity has total reserves of £724,406 at 31 March 2023 of which restricted reserves amount to £12,762 and general reserves amount to £711,644, which includes £580,353 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 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 2023

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 2023

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 2 October 2023 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 2023 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:

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

2 October 2023

Page 4

THE BOSTON WOODS TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

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
£
25,458
7,694
250
232
33,634
801
16,824
59,073
76,698
(43,064)
70,390
27,326
684,319
711,645		 Restricted
Fund
£
6,000
-
-
-
6,000
-
28,218
-
28,218
(22,218)
(70,390)
(92,608)
105,369
12,761		 2022
Total
Funds
£
31,458
7,694
250
232
39,634
801
45,042
59,073
104,916
(65,282)
-
(65,282)
789,688
724,406		 2021
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

The notes form part of these financial statements

Page 5

THE BOSTON WOODS TRUST REGISTERED CHARITY NUMBER (1090420)

BALANCE SHEET AT 31 MARCH 2023

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
£
587,543
434
124,598
125,032
(930)
124,102
711,645
711,645		 Restricted
Fund
£
-
-
12,761
12,761
-
12,761
12,761
12,761		 2023
Total
Funds
£
587,543
434
137,359
137,793
(930)
136,863
724,406
724,406
711,645
12,761
724,406		 2022
Total
Funds
£
575,791
64
214,721
214,785
(888)
213,897
789,688
789,688
684,319
105,369
789,688

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 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 2 October 2023 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 2023

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 2023

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
South and East Lincolnshire Community Lottery
DONATIONS AND LEGACIES – RESTRICTED
Donations
The above restricted donations are made up as follows:
For signs
For maintenance
For Dion’s Woods Pond
For Trees
3.
OTHER TRADING ACTIVITIES
Miscellaneous sales
Sale of wood
Rent
Burial site income
Sale of Polo Shirts
Insurance Claim		 2023
£
17,229
-
1,971
2,349
-
3,909
25,458
2023
£
680
-
1,383
-
-
-
286
2,349
2023
£
6,000
2023
£
-
-
-
6,000
6,000
2023
£
341
701
1,213
5,100
214
125
7,694		 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

Page 8

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023

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
Polo Shirts
7.
CHARITABLE ACITIVITIES COSTS - UNRESTRICTED
Planting, maintenance and drainage
Seating and plaques
Professional Fees
Independent examination
Donations
7.
CHARITABLE ACITIVITIES COSTS - RESTRICTED
Planting, maintenance and drainage
Seating and plaques
Woodland carvings
Professional fees		 2023
£
250
2023
£
232
232
2023
£
394
119
13
10
-
265
801
2023
£
15,009
584
276
930
25
16,824
2023
£
28,218
-

-
-
28,218		 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

Page 9

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023

8. OTHER EXPENDITURE

Depreciation – owned assets
Burial site costs		 2023
£
58,638
435
59,073		 2022
£
49,966
5,072
55,038

9. TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023, nor for the year ended 31 March 2022.

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
£
43,444
19,791
27
539
63,801
1,622
19,176
55,038
75,836
(12,035)
579,735
116,619
684,319		 Restricted
Fund
£
12,500
-
-
-
12,500
-
16,958
-
16,958
(4,458)
226,446
(116,619)
105,369		 Total
Funds
£
55,944
19,791
27
539
76,301
1,622
36,134
55,038
92,794
(16,493)
806,181
-
789,688

Page 10

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2022
At 31 March 2023		 Fixtures
and
Fittings
£
6,314
-
6,314
4,317
499
4,816
1,997
1,498		 Plant
and
Machinery
£
10,450
4,284
14,734
7,144
1,898
9,042
3,306
5,692		 Freehold
Property
£
936,900
66,106
1,003,006
366,412
56,241
422,653
570,488
580,353		 Long
Leasehold
£
456
-
456
456
-
456
-
-		 Totals
£
954,120
70,390
1,024,510
378,329
58,638
436,967
575,791
587,543

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
Pathways – 2023 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

66,106
31,675
1,003,006

Page 11

THE BOSTON WOODS TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
Trade debtors		 2023
£
134
300
434		 2022
£
64
-
64

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023 2022
£ £
Trade creditors 930 888

14. MOVEMENT IN FUNDS

Unrestricted funds
General funds
Restricted funds
Restricted
TOTAL FUNDS		 At 1.4.22
£
684,319
105,369
789,688		 Net
movement
in funds
£
(43,064)
(22,218)
(65,282)		 Transfers
between
funds
£
70,390
(70,390)
-		 At 31.3.23
£
711,645
12,761
724,406

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

Unrestricted funds
General funds
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
Resources
£
33,634
6,000
39,634		 Resources
Expended
£
(76,698)
(28,218)
(104,916)		 Movement
in funds
£
(43,064)
(22,218)
(65,282)

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.

16. LEGACIES

In an irrevocable deed of agreement dated 19 March 2021 between The Boston Woods Trust Limited and Mr C Dion 13.88Ha of land shall be bequeathed to The Boston Woods Trust and will be hereafter known as Dion’s Farm Wood. The trust shall at its own cost apply for planning permission to create woodland and wildflower meadows together with a lake and car parking.

Page 12

THE BOSTON WOODS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

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 income
Sale of Polo Shirts
Insurance Claim
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
Polo Shirts
Lease re Westgate Woods
Charitable activities
Planting, maintenance and drainage
Seating
Signs
Independent examination fees
Professional fees
Donations
Other
Depreciation of tangible fixed assets
Burial site costs
Total resources expended
Net (expenditure)/income		 2023
£
23,229
1,971
2,349
-
3,909
31,458
341
701
1,213
5,100
214
125
7,694
250
-
232
39,634
394
119
13
-
265
10
801
43,227
584
-
930
276
25
45,042
58,638
435
59,073
104,916
(65,282)		 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)

This page does not form part of the statutory accounts

Page 13