**Charity number: 1095403**
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2020**
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 - 13|
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020**
|**Trustees**|Lois Hunt|
|---|---|
||Margaret Anne Clark (deceased 3 November 2020)|
||Alan Fairs|
||Sarah Carr (appointed 10 December 2020)|
|**Charity registered**
**number**
1095403
**Principal office**
Heveningham Hall Estate
Heveningham
Halesworth
Suffolk
IP19 0PN
**Accountants**
Larking Gowen LLP
Chartered Accountants
King Street House
15 Upper King Street
Norwich
NR3 1RB
**Bankers**
Barclays Bank PLC||
Page 1
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020**
The Trustees present their annual report together with the financial statements of Heveningham Hall County Fair Trust (the Charity) for the 1 September 2019 to 31 August 2020. The trustees confirm that the Annual report and financial statements of the Charity comply with the current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with Financial Reporting Standard 102.
## **a. POLICIES AND OBJECTIVES**
It is the policy of the Trust to distribute monies raised by way of grant each year in accordance with the objects of the Trust and at the discretion of the trustees.
## **b. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT**
During the year under review two events were held, a Firework Display and a Christmas Market. Funds raised would normally be distributed by way of grants in accordance with the objects of the Trust during the forthcoming financial year.
The Trustees have given due regard to the Charity Commission’s guidance on public benefit when reviewing the aim and objectives and in planning the future activities of the charity.
The aim of the charity is achieved by providing public benefit, in accordance with the Charity’s objects, to the six parishes and the surrounding areas which offer their support to the Trust. The Trustees review all grant requests received and distribute available funds to those that fall within the current objects of the charity.
The Trustees are not aware of any issues or consider that there is any detriment or harm that might arise from carrying out the aims of this charity. The Trustees of the charity give their time freely and receive no remuneration for their services.
## **Future plans:**
In light of the Covid-19 situation and government advice, the trustees sadly decided to cancel the 2020 Fireworks event and the Country Fair in June 2021 and have offered full refunds for any income received. It is hoped to be able to hold for the 2021 Fireworks event.
We have incurred expenditure of £1,980 for the 2022 Country Fair during the year 2019/2020 being a 25% deposit for main ring attraction, carried forward from cancelled events due to Covid.
Due to the ongoing situation we have made no further grant commitments. As at 30th April 2021 we have £89,812 working capital, adequate for the 2022 Country Fair. On this basis we have no significant doubt that the charity will continue to operate for the foreseeable future.
## **Achievements and performance**
## **Financial review**
## **a. FINANCIAL POSITION**
During the year under review, the Trust received income totalling £53,731 (2019: £279,986) as shown on page 5 of the financial statements.
In light of the Covid-19 situation and government advice, the trustees sadly decided to cancel the Country Fair in June 2020. Full refunds were offered for any income already received. The Trust incurred fundraising expenditure of £38,046 (2019: £146,500) during the year and paid out £123,438 (2019; £123,857) in grants.
The Trustees aim to retain sufficient funds each year to meet cashflow requirements of forthcoming fundraising events. The reserves held at the end of the financial year under review totalled £90,864 (2019: £198,617).
Page 2
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020**
## **Structure, governance and management**
## **a. CONSTITUTION**
The Trust is governed by a Deed dated 10 May 2002 as amended 21 April 2009.
The object of the Trust is the relief of need and the advancement of the Christian faith in the parishes of Cookley, Cratfield, Heveningham, Huntingfield, Laxfield and Walpole, and the provision of assistance to deserving causes.
## **b. ORGANISATIONAL STRUCTURE AND DECISION MAKING**
The Trustees who have served during the year and since the year end are set out on page 1. Trustees are appointed by the board of trustees and meet twice per year or more often if required. Trustees are appointed by invitation of the Trustees. Such an invitation is only issued to a resident of one of the six parishes of Cookley, Cratfield, Heveningham, Huntingfield, Walpole and Laxfield. The day to day management of the charity is administered by the board of trustees.
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, 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 presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 members of the board of Trustees and signed on their behalf by:
................................................ **Mrs Lois Hunt** Chair of Trustees Date: 22 June 2021
Page 3
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2020**
## **Independent Examiner's Report to the Trustees of Heveningham Hall Country Fair Trust ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2020.
## **Responsibilities and Basis of Report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed: Dated: 25 June 2021 Giles Kerkham FCA DChA
Larking Gowen LLP Norwich
Page 4
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2020**
|**Note**
**Income from:**
Fundraising events
2
Investments
3
**Total income**
**Expenditure on:**
Raising funds
4
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2020**
**£**
**53,444**
**287**
**53,731**
**38,046**
**123,438**
**161,484**
**(107,753)**
**198,617**
**(107,753)**
**90,864**|**Total**
**funds**
**2020**
**£**
**53,444**
**287**
**53,731**
**38,046**
**123,438**
**161,484**
**(107,753)**
**198,617**
**(107,753)**
**90,864**|_Total_
_funds_
_2019_
_£_
_279,598_
_388_|
|---|---|---|---|
||||_279,986_|
||||_146,500_
_123,857_|
||||_270,357_|
||||_9,629_|
||||_188,988_
_9,629_|
||||_198,617_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 13 form part of these financial statements.
Page 5
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **BALANCE SHEET AS AT 31 AUGUST 2020**
|**Note**
**Current assets**
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
**Net current assets**
**Total net assets**
**Charity funds**
Unrestricted funds
**Total funds**|**1,980**
**90,054**
**92,034**
**(1,170)**|**2020**
**£**
**90,864**
**90,864**
**90,864**
**90,864**|_1,654_
_199,685_
_201,339_
_(2,722)_|_2019_
_£_
_198,617_|
|---|---|---|---|---|
||||||
|||||_198,617_|
|||||_198,617_|
||||||
|||||_198,617_|
The financial statements were approved and authorised for issue by the Trustees on 22 June 2021 and signed on their behalf by:
**Mrs Lois Hunt** Chairman
The notes on pages 7 to 13 form part of these financial statements.
Page 6
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Heveningham Hall Country Fair Trust meets the definition of a public benefit entity under FRS 102.
## **1.2 Going concern**
The Trustees have considered the Charity’s position at the time of signing the financial statements, and in particular the current issues caused by Covid-19 and its potential impact on the Charity. As disclosed in the Trustees' Report, the 2020 Show has been cancelled. Nevertheless, the Trustees have considered the current financial strength of the Charity and its financial commitments and are confident that the charity has the resources that will enable the Show to be rescheduled in 2021.
Based on this, the Trustees have concluded that they have a reasonable expectation that the Charity will have adequate resources to continue in operational existence for the foreseeable future, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
## **1.3 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **1.4 Income**
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 income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Page 7
**HEVENINGHAM HALL COUNTRY FAIR TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **1. Accounting policies (continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
Page 8
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **2. Fundraising Income**
## **Income from fundraising events**
|**Unrestricted**
**funds**
**2020**
**£**
Country Fair
114
Fireworks Display
51,665
Christmas Market
1,665
**Total 2020**
53,444
_Unrestricted_
_funds_
_2019_
_£_
County Fair
_214,292_
Fireworks Display
_63,679_
Christmas Market
_1,627_
_Total 2019_
_279,598_|**Total**
**funds**
**2020**
**£**
**114**
**51,665**
**1,665**|
|---|---|
||**53,444**|
||_Total_
_funds_
_2019_
_£_
_214,292_
_63,679_
_1,627_|
||_279,598_|
## **3. Investment income**
|**Unrestricted**
**funds**
**2020**
**£**
Barclays Business Premium Account
287
_Unrestricted_
_funds_
_2019_
_£_
Barclays Business Premium Account
_388_|**Total**
**funds**
**2020**
**£**
**287**|
|---|---|
||_Total_
_funds_
_2019_
_£_
_388_|
Page 9
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **4. Fundraising Expenditure**
## **Costs of fundraising events**
|**Unrestricted**
**funds**
**2020**
**£**
Country Fair
6,262
Fireworks Display
29,745
Christmas Market
2,039
**Total 2020**
38,046|**Total**
**funds**
**2020**
**£**
**6,262**
**29,745**
**2,039**|
|---|---|
||**38,046**|
Page 10
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **4. Fundraising Expenditure (continued)**
## **Costs of fundraising events (continued)**
|Country Fair
Fireworks Display
Christmas Market|_Unrestricted_
_funds_
_2019_
_£_
_120,564_
_23,506_
_2,430_
_146,500_|_Total_
_funds_
_2019_
_£_
_120,564_
_23,506_
_2,430_|
|---|---|---|
|||_146,500_|
## **5. Analysis of Grants**
|Grants
Grants|**Grants to**
**Institutions**
**2020**
**£**
107,938
_Grants to_
_Institutions_
_2019_
_£_
_115,607_|**Grants to**
**Individuals**
**2020**
**£**
15,500
_Grants to_
_Individuals_
_2019_
_£_
_8,250_|**Total**
**funds**
**2020**
**£**
**123,438**|
|---|---|---|---|
||||_Total_
_funds_
_2019_
_£_
_123,857_|
Page 11
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **6. Analysis of Grants to Institutions**
|All Saints Church
BMF Bramfield
Bruisyard PC
Community Nursing Care Fund
Concerts at Cratfield
Cookley and Walpole Good Neighbours
Cookley and Walpole Playing Field Trust
Cookley PC
Cratfield PC
Cratfield PCC
Cratfield Village Hall
East Anglian Air Ambulance
Edgar Sewtor School
Halesworth Community Sport and Leisure
Halesworth Town Council
Halesworth Town Football Club
Halesworth Dementia Carers' Fund
Heveningham and Ubbeston PCC
Holton Playground Enhancement
Huntingfield PCC
Huntingfield Millenium Green
Kuk Sool Club
Laxfield and District Museum
Laxfield Pre School
Laxfield Village Hall Council
Pear Tree Fund
Stradbroke High School
Stradbroke Cricket Club
Stratbroke Media CIC
St Mary's PCC
Suffolk Accident
Supporting Activities for Everyone
The Attic PRU
The Old Groynes Theatre Company
Unlock a Life for Lockey
Walpole & Cookley Playing Field Trust
Warrier Fire & Rescue
Yoxford Cricket Club
**Total**|**-**
**6,000**
**350**
**-**
**1,500**
**-**
**-**
**3,323**
**4,925**
**2,000**
**5,346**
**10,000**
**2,000**
**-**
**-**
**6,000**
**-**
**5,136**
**5,000**
**4,000**
**-**
**4,820**
**-**
**3,033**
**2,000**
**30,000**
**-**
**-**
**-**
**-**
**1,000**
**-**
**-**
**3,000**
**-**
**2,505**
**-**
**6,000**
**107,938**|_5,000_
_-_
_-_
_20,000_
_-_
_402_
_5,580_
_1,344_
_580_
_5,000_
_3,555_
_10,000_
_-_
_2,000_
_(10,000)_
_3,500_
_50,000_
_5,000_
_-_
_-_
_746_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_500_
_5,500_
_-_
_500_
_1,000_
_-_
_400_
_-_
_-_
_5,000_
_115,607_|
|---|---|---|
Page 12
## **HEVENINGHAM HALL COUNTRY FAIR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **7. Net income/ (expenditure)**
During the year, no Trustees received any remuneration (2019- £NIL) During the year, no Trustees received any benefits in kind (2019- £NIL) During the year, 1 Trustee received reimbursement of expenses totalling £2,268 (2019- £NIL)
## **8. Employees**
The charity had no employees in the period.
## **9. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £1,170 ( _2019_ - _£1,440_ ).
## **10. Debtors**
|**Due within one year**
Trade debtors|**2020**
**£**
**1,980**
**1,980**|_2019_
_£_
_1,654_|
|---|---|---|
||||
|||_1,654_|
## **11. Creditors: Amounts falling due within one year**
|Trade creditors
Other creditors|**2020**
**£**
**-**
**1,170**
**1,170**|_2019_
_£_
_1,282_
_1,440_|
|---|---|---|
||||
|||_2,722_|
## **12. Related party transactions**
During the year a grant amounting to £5,000 was awarded to M Clark.
Page 13