OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-08-31-accounts

THE GATTON TRUST LIMITED

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

COMPANY REGISTERED NUMBER: 4216691 REGISTERED CHARITY NUMBER: 1101467

THE GATTON TRUST LIMITED

CONTENTS

Page(s)
Report of the Trustees 1-9
Independent Auditors’ Report 10-13
Statement of Financial Activities 14
Balance Sheet 15
Notes to the Financial Statements 16-25

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees present their annual report which includes the requirements of a directors’ report under company law and the audited financial statements of The Gatton Trust Limited (“the Charity”) for the year ended 31[st] August 2020. The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland” and the accounting policies set out in Note 3 to the accounts, the Companies Act 2006, the Charities Act 2011, and Accounting and Reporting by Charities: Statement of Recommend 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 preparing these financial statements the Trustees confirm that they have had regard to the Charity Commission guidance on public benefit.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The purposes of Gatton Trust which are set out in the Memorandum and Articles of Association are to:

ACHIEVEMENTS AND PERFORMANCE

This year has been significantly affected by the Covid 19 pandemic. The national lockdown had an impact on our activities, income and staffing.

Areas of the park have also been affected by a large-scale project to install boreholes in some fields and pipework in the lakes to provide ground source heat to all of the school buildings and boarding houses. This exciting project has a temporary impact on the landscape but should have only a very limited impact in the long term, for significant environmental benefits.

1

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

Projects during the year

The Japanese Garden Restored

A project to continue the restoration of the Japanese Garden was started this winter. Over the last few years we have replaced the bridge, dredged the ponds and replaced some of the paths. This year’s project replaced the tea house roof with cedar shingles. The second element of the project, to replace the steps to the teahouse, install a handrail and create an access in the back of the tea house for less able walkers, was postponed until the autumn due to the Covid crisis.

Funding for this project was provided by The Postcode Lottery Trust, The Jeremiah Colman Gift Trust, and Reigate and Banstead Borough Council Councillors Awards

Forest School For All

This partnership project with a local children’s centre involved six Forest School sessions for families who receive support. For many of the parents involved it was a step out of their comfort zone but the value of the educational experience was recognised by both the families themselves and the children’s centre staff. We are seeking funding to run this project again.

Funding for this project was provided by Toyota Fund for a Better Tomorrow and Merstham Millennium Trust

Visitors and Education

During this period 6,422 (2019: 17,258) visits were made to the park as part of our events, activities and educational work. The park is home to 75 resident staff and their families, and 475 boarding pupils (1,100 school pupils in total). The site is also used by groups using buildings in the school holidays and using Gatton Hall. Parts of the park are accessible as part of the North Downs Way.

Open Days

The Park is normally open once a month between February and October, with additional days in February for visitors to enjoy the snowdrops. This year, Open Days in April, May and June were cancelled, due to the Covid crisis, but when it was possible to reopen in July two additional open days were run due to the high demand for safe outdoor activities.

Total attendance was 1647 adults and 429 children (2019: 1,685 adults and 480 children).

Guided Tours

A total of 200 visitors (2019: 233) joined a guided tour of the park. Free guided tours were also offered as part of the Heritage Open Days festival.

Events

Special events were considerably affected by the pandemic with our open air cinema, most of the Tea in the Japanese Garden dates and most significantly Gatton Country Fair, all being cancelled due to the Covid crisis. This had a large effect on our income generated this year.

2

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

Family Learning and Children’s Activities

Included in these activities are larger events such as the Fairytale Treasure Hunt, Santa’s Grotto, and Halloween. Our Easter Egg Hunt was cancelled. We also run activities during school holidays and our regular “Little Seeds Forest School” for pre-schoolers and parents.

In total these events involved 665 children and 667 adults (2019: 1759 children and 1691 adults). Our regular Trails and Tales activities for toddlers and their parents attracted 623 children, 529 adults (2019: 1622 children and 1496 adults).

Groups of children from organisations such as Young Carers and Brownies also visited for activities in the park, totalling 188 visitors (2019: 405).

19 children’s birthday parties were held, attended by 368 people (2019: 34 parties, 961 people).

This year for the first time, we worked with MHA to run “Dementia Adventure” sessions with the aim of helping elderly visitors to rekindle memories through outdoor based activities.

School Visits

Educational activities was one of the areas hardest hit by the lockdown. The peak season for school visits was lost as schools were shut. This year only 842 school children visited the park, compared to 3,288 children last year.

Volunteers

There are 93 volunteers (2019: 95) who regularly support the work of the Trust. In total they provided 4,814 volunteer hours (2019: 9,538). Volunteering stopped in March with the national lockdown and restarted on a limited basis in June. Very few education volunteers and none of our office-based volunteers returned during this period. 10% of volunteers are vulnerable adults with issues such as mental health problems or physical disabilities, and the Trust works with local organisations to support these volunteers.

Corporate Volunteering

Six corporate groups visited this year including Toyota, Psyon and IHS Markit. This is considerably down on the previous year (2019:17), when these types of group contributed significantly to the practical improvements on site.

Staffing

In April, the Chief Executive, Education staff, Park Warden and part-time gardeners were put on the government furlough scheme. This left the Park and Gardens Manager, supported by one part-time school gardener to continue working.

Two members of staff took maternity leave and were furloughed on their return.

Part-time gardeners returned to work in June, along with a limited number of volunteers who help with gardening. The Chief Executive and Park Warden returned to work part-time in August.

3

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

Staffing (continued)

In March the Volunteer and Events Officer resigned to take up a new position. This role has not been replaced.

The Garden and Park Manager, Park Warden and part-time Gardener are employed directly by the RAAS Foundation.

Funding

Educational activities are funded through donations from charitable trusts, local and national businesses and other grant programmes, together with income from paying visitors. Project costs for both parkland and education projects continued to be difficult to source despite the sterling work of our volunteer fundraiser.

Park and Gardens

The Gardens

Despite a significantly reduced workforce for half of the year, the gardens continue to improve. Some projects planned for this year were limited or postponed due to the difficult circumstances.

Over the winter months the Japanese Tea house was reroofed, replacing the thatch with more practical cedar shingles. A planned project to replace the steps and add an access path to the back of the teahouse have been postponed.

The Rock and Water Garden has been improved by path renovation work, allowing access to an area of the garden that has been closed for some time.

Work has started on the restoration of The Old World Garden which currently lies hidden amongst trees in the Pleasure Gardens. Work began on restorative pruning of the yew trees which once formed a hedge around the pond and rose garden. This year approximately half of the trees were pruned.

The orchard has been maintained throughout the year and provided a good crop of apples for the school kitchens.

Staff and volunteers have worked to improve our nursery and greenhouse facilities resulting in a stock of plants to improve the gardens and for sale at our open days.

Parkland

The maintenance of the parkland carried out this year included grassland management through herbicide spraying in some areas, a hay-cut and grazing with sheep with the aim of promoting biodiversity in the grasslands. Some areas of grassland will need significant restoration following the ground source heat project.

During the winter months a new path was built through Cedar Walk creating a complete circuit of hard path around the lake, much improving the access in winter.

4

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

Parkland (continued)

Tree surveys were carried out as usual this winter and a further survey carried out by contractors along the roads later in the year for ash dieback. A large amount of work will need to be carried out to remove trees in the autumn and winter. Our strategy to deal with ash dieback is to continue to monitor and fell as required, spreading the landscape impact and cost over a number of years.

During lockdown, staff from the school developed an area of Serpentine Woods as an educational facility for the school to use, including outdoor classrooms, a labyrinth and fairy garden. The importance of the whole park as a resource for the school community for their health and wellbeing has been highlighted this year.

FINANCIAL REVIEW

Income and expenditure

The deficit for the year ended 31 August 2020 was £12,725 (2019: deficit £15,367). There was a significant deficit within unrestricted funds of £11,355 (2019: surplus of £12,581) owing to the COVID 19 pandemic. Restricted funds saw a smaller deficit of £1,370 (2019: deficit £27,948) being the spending of funding received for restricted fund projects in the prior year.

The Board took the decision to transfer the deficit made on educational activities within unrestricted funds, being £13,346, to the General Education Reserves within restricted funds. The General Education Reserves comprise the general funds of Gatton Park Education Trust Limited (GPET) at the time of merger, and are therefore restricted to spend on educational activities in line with GPET’s charitable objectives.

Income for the year ended 31 August 2020 amounted to £59,278 (2019: £102,728). Donations and voluntary income received amounted to £6,236 (2019: £9,071). A list of all donations of £750 or more is included in the Notes to the Financial Statements.

Open day and related income amounted to £18,952 (2019: £40,017). The decrease was due to the national lockdown and COVID 19 restrictions reducing the number of activities that could be run during the year. Details of the activities that could run are included in this report.

Staffing expenditure represents the salary and related costs of the Chief Executive and her education team together with the costs of the Volunteer and Community Project Officer which have not been recharged to specific projects.

Net current assets

These comprise principally cash at bank.

Reserves

At 31 August 2020, reserves amounted to £95,732 (2019: £108,457) of which £78,446 (2019: £76,455) comprise unrestricted reserves. As at 31 August 2020, unrestricted reserves included no funds (2019: none) designated to future projects.

5

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

Reserves (continued)

Of the £17,286 restricted reserves at 31 August 2020 (2019: £32,002), £14,613 comprised general education reserves which were transferred at the time of the merger of Gatton Trust with Gatton Park Education Trust Limited in 2009.

Going Concern

Having made appropriate enquiries, the Trustees are satisfied that the Charity has adequate resources to continue for the foreseeable future. For this reason, the Trustees have continued to adopt the going concern basis of accounting.

RISK MANAGEMENT

As part of their normal procedures, the Trustees assess the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity. The assessment comprises:

The principal risks and uncertainties that the Charity faces are summarised as:

The Trustees manage the risks by ensuring that there is regular monitoring of financial performance and forecast fundraising activities. Special projects are not undertaken unless fully funded. Regular meetings are held with the trustees and the parent undertaking is kept informed of the Charity’s current and planned operations.

RESERVES POLICY

The Trustees seek to ensure there are sufficient funds to cover six months ongoing operational expenses. This equates to £32,883 which represents the sum total of all payroll costs along with all other unrestricted and designated spend in the year. Unrestricted and Designated reserves at 31 August 2020 was £78,446 which implies there is a reserves surplus of £45,563. This policy is reviewed annually.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Gatton Trust Limited (“Gatton Trust” or “the Charity”), (registered company number 4216691), a charitable company limited by guarantee, was incorporated on 15 May 2001. The Company became a registered charity on 12 January 2004 (registration number 1101467). The governing documents are the Memorandum and Articles of Association. The sole member of the company is the charitable corporation Royal Alexandra and Albert School (“the Foundation” or “RAAS”).

6

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

Directors

The Board of Directors comprise the Charity Trustees who are responsible for the general control and management of the Charity. New trustees, who are selected for their relevant expertise and experience are nominated by the member Royal Alexandra and Albert School. Upon appointment, trustees are provided with detailed information regarding the Charity and are invited to attend detailed briefing sessions with the Chairman. All trustees give of their time freely and no trustee remuneration was paid in the year. Trustees are required to disclose all relevant interests and register them with the Chairman and to withdraw from decisions where a conflict of interest arises,

Royal Alexandra and Albert School, the parent charity, maintains liability insurance for the Trustees and officers of its subsidiary undertakings including the Charity, which qualifies as a third party indemnity provision for the purposes of the Companies Act 2006. This insurance was in force during the financial year and at the date of approval of the financial statements.

REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees

Graham J Williams (resigned 29 September 2020) Peter Dawson David Frank Margaret Kippen Alan Mortlock Gail Sperrin

Chief Executive Louise Miller

Principal Office

Auditors

Foundation Office Moore Kingston Smith LLP Gatton Park Betchworth House Reigate 57-65 Station Road Surrey Redhill RH2 0TW Surrey Charity Number: 1101467 RH1 1DL

Bankers

CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Solicitors

Farrer & Co LLP 66 Lincoln’s Inn Fields London WC2A 3LH

7

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of The Gatton Trust Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulation.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, and applicable law (United Kingdom Generally Accepted Accounting Practice). Under company 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 the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions 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 assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

8

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

DISCLOSURE OF INFORMATION TO AUDITORS

In accordance with Section 418 of the Companies Act 2006, directors’ reports shall include a statement, in the case of each director in office at the date the directors’ report is approved, that:

(a) so far as the director is aware, there is no relevant audit information of which the charitable company’s auditors are unaware; and

(b) he has taken all the steps that he ought to have taken as a trustee in order to make himself aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

Under the Companies Act, s414B, The Gatton Trust Limited is entitled to small companies exemption in relation to the strategic report for the financial year ended 31 August 2020 as it is entitled to prepare accounts for the year in accordance with the small companies regime.

INDEPENDENT AUDITORS

A resolution proposing that Moore Kingston Smith LLP be re-appointed as auditors will be put to the forthcoming annual general meeting.

On behalf of the Board:

David Frank Chairman

1 December 2020

The Gatton Trust Limited Company registered number: 4216691

9

THE GATTON TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GATTON TRUST LIMITED

OPINION

We have audited the financial statements of The Gatton Trust Limited for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

OTHER INFORMATION

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are

10

THE GATTON TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GATTON TRUST LIMITED (continued)

OTHER INFORMATION (continued)

required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

11

THE GATTON TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GATTON TRUST LIMITED (continued)

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

12

THE GATTON TRUST LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE GATTON TRUST LIMITED (continued)

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Montgomery (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP Statutory Auditor

21 December 2020

Betchworth House 57 – 65 Station Road Redhill Surrey RH1 1DL

13

THE GATTON TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020

Note
INCOME FROM
Charitable activities
Open days and related income
Environmental education
Donations
Grants from government and other
public bodies
5
Voluntary income
5
TOTAL
EXPENDITURE ON
Charitable activities
Park and garden conservation
Open day and event costs
Non project staffing costs
Environmental education projects
Raising funds
Marketing
TOTAL
7,8
NET (EXPENDITURE)/INCOME
Transfers between funds
Loss on educational activities
transferred to General Education
Reserves
NET MOVEMENT IN FUNDS
Reconciliation of Funds
FUND BALANCES brought forward at
1 September
FUND BALANCES carried forward at 31
August		 Unrestricted
funds

£
18,952
17,633
16,457
1,368
54,410
1,541
4,169
54,908
2,274
2,873
65,765
(11,355)
13,346
1,991
76,455
78,446		 Restricted
funds
£
-
-
-
4,868
4,868
2,303
-
-
2,935
1,000
6,238
(1,370)
(13,346)
(14,716)
32,002
17,286		 2020
Total
£
18,952
17,633
16,457
6,236
59,278
3,844
4,169
54,908
5,209
3,873
72,003
(12,725)
-
(12,725)
108,457
95,732		 2019
Total
£
40,017
53,640
-
9,071
102,728
14,947
18,039
50,124
31,475
3,510
118,095
(15,367)
-
(15,367)
123,824
108,457

The results shown above are attributable to continuing operations only. The Charity had no other comprehensive income or losses other than those dealt with in the Statement of Financial Activities. There are no material differences between the net (expenditure)/ income and the fund balances carried forward stated above and their historical cost equivalents. The accounts have been prepared in line with FRS 102.

14

THE GATTON TRUST LIMITED

BALANCE SHEET AS AT 31 AUGUST 2020

Note
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
Total current assets
LIABILITIES
Creditors: Amounts falling due within one year
12
NET CURRENT ASSETS
NET ASSETS
THE FUNDS OF THE CHARITY:
Restricted income funds
13,14,16
Unrestricted income funds
13,14,15
TOTAL CHARITY FUNDS		 2020
£
-
986
98,520
99,506
(3,774)
95,732
95,732
17,286
78,446
95,732		 2019
£
625
6,363
113,220
119,583
(11,751)
107,832
108,457
32,002
76,455
108,457

The financial statements on pages 14 to 25 were approved by the Board on 1 December 2020 and were signed on its behalf by:

David Frank Chairman

Company registration number: 4216691

15

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

1. GENERAL INFORMATION

The Gatton Trust Limited (“the Charity”) is a charitable company limited by guarantee, incorporated in the United Kingdom (registered company number 4216691) and is a charity domiciled in the United Kingdom (registered charity number 1101467). The Charity’s registered office and operational address is: Royal Alexandra and Albert School, Gatton Park, Reigate, Surrey RH2 0TW.

The Gatton Trust Limited is a public benefit entity.

2. ACCOUNTING CONVENTION

The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”, Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency at the company. Monetary amounts in these financial statements are rounded to the nearest £.

The Charity is a qualifying entity for the purposes of FRS 102 as it is part of the publicly available consolidated financial statements of the parent charity, Royal Alexandra and Albert School. The Charity has taken advantage of the following exemptions:

(i) Under FRS 102 paragraph 1.12 (b), from preparing a statement of cash flows

(ii) Certain disclosure requirements of section 11 in respect of financial instruments

(iii) Disclosure of the Charity’s key management personnel compensation

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The financial statements have been prepared under the historical cost convention. The principal accounting policies applied in the preparation of these financial statements, consistently applied to all the years presented, are set out below.

Going concern

The results for the year have been impacted by the COVID-19 pandemic due to the national lockdown and COVID-19 restrictions reducing the number of activities that could be run. However, whilst the ultimate impact of the pandemic cannot currently be quantified, the Trustees expect a return to normality over the next 12 months and, having made appropriate enquiries, the Trustees are satisfied that the Charity has adequate resources to continue for the foreseeable future being at least twelve months from the date of approval of the financial statements. For this reason, the Trustees have continued to adopt the going concern basis when preparing the financial statements.

16

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Legacies, donations and other voluntary income represent income from legators, donors (whether individual or corporate), and grants from charitable trusts. Grants from government and other public bodies are accounted for where full approval has been received. Interest is accounted for when receivable. Income from charitable activities is accounted for when receivable.

Charitable expenditure and management and administration expenditure

Costs of generating funds comprise the costs of marketing the Charity to attract funds. Costs of charitable activities comprise all expenditure directly relating to the objects of the Charity. Expenditure is accounted for on an accruals basis as a liability arises.

Allocation of support costs

Support costs are those functions that assist the work of the Charity but are not directly incurred in the performance of charitable activities. Support costs include office costs apportioned on the basis of expenditure for each unrestricted fund activity in relation to the total cost. The allocation of support costs is analysed in note 7.

Pension costs

The Charity pays contributions for those employees who elect to become members, into a qualifying pension scheme established with the National Employment Savings Trust. Contributions for one employee are paid into a personal pension scheme with Friends Provident.

Both Scheme’s assets are invested separately from the Charity’s assets and payments are charged to the statement of financial activities as they are incurred.

Irrecoverable Value Added Tax

Any irrecoverable Value Added Tax is charged to the statement of financial activities, or capitalised as part of the cost of the related asset, as appropriate.

Tangible fixed assets and depreciation

Tangible fixed assets, costing £1,000 or more, are stated at historic cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Depreciation is recognised so as to write off the cost of the assets, less their residual values, over their expected useful lives on the following bases:

Motor Vehicles 50% straight line Plant and machinery 25% straight line

The useful economic lives and residual value of fixed assets are reviewed at the end of each accounting period.

17

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

Unrestricted funds

Unrestricted funds comprise accumulated surpluses on general funds. They are available for use at the discretion of the Trustees in furtherance of the objects of the Charity.

Designated funds

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aims and uses of the designated funds are set out in Note 16.

Restricted funds

These are funds for which the donor has specifically restricted the purpose for which the funds can be used. The amounts in the funds represent the monies still remaining for future expenditure.

Transfers between funds

Transfers are made from and within unrestricted funds in line with charitable objectives. The loss made in the year on educational activities has been transferred to the General Education Reserves Fund from the Unrestricted Funds.

Critical accounting judgements and estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. It is in the opinion of the Trustees that there are no estimates and assumptions that have a significant risk of causing a material adjustment of the carrying amounts of assets and liabilities within the next financial year.

4. STATUS

The company is limited by guarantee and has no share capital. The liability of the member in the event of a winding up is limited to £1.

5. DONATIONS AND VOLUNTARY INCOME

Grants and donations comprise:
Grants from government and other public bodies
Donations and other voluntary income		 2020
£’000
16,457
6,236
22,693		 2019
£’000
-
9,071
9,071

Grants from government and other public bodies comprise grants from the government of £16,457 (2019: nil) claimed through the Coronavirus Job Retention Scheme to cover employees’ wages.

18

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

5. DONATIONS AND VOLUNTARY INCOME (continued)

Donations and other voluntary income include the following amounts received of £750 and over:

2020 2019
£ £
Postcode Local Trust 2,108 -
CLA Charitable Trust 1,500 -
Jeremiah Colman Gift Trust 750 750
Toyota (GB) Charitable Trust - 1,800
Peter Felix - 1,129
Gatwick Airport - 1,000
Merstham Cashbox - 830

6. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES

The monthly average number of employees was 4.6 (2019: 5.4). Calculated as full time equivalents the employee number was 2.3 (2019: 2.6). Other than for the Volunteer Coordinator, all employees are involved in the delivery of education activities.

Staff costs
Wages and salaries
Social security costs
Other pension costs		 2020
£
49,208
2,876
3,221
55,305		 2019
£
63,677
4,377
2,559
70,613

None of the employees earned more than £60,000 (2019: none). None of the Trustees received any remuneration or expenses (2019: none).

Audit fees of £2,050 (2019: £2,030) were borne by the parent charity who made no recharge.

7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Current year
Park and garden conservation
Open day and event costs
Non project staffing costs
Environmental education projects
Marketing		 Direct
costs
£
3,694
4,006
52,764
5,006
3,722
69,192		 Support
costs
£
150
163
2,144
203
151
2,811		 2020
£
3,844
4,169
54,908
5,209
3,873
72,003

19

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE (continued)

Comparative year
Park and garden conservation
Open day and event costs
Non project staffing costs
Environmental education projects
Marketing		 Direct
costs
£
14,673
17,750
49,298
31,383
3,445
116,549		 Support
costs
£
274
289
826
92
65
1,546		 2019
£
14,947
18,039
50,124
31,475
3,510
118,095

8. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

Current year
Direct costs
Support costs
Comparative year
Direct costs
Support costs		 Unrestricted
funds
£
62,954
2,811
65,765
Unrestricted
funds
£
82,670
1,546
84,216		 Restricted
funds
£
6,238
-
6,238
Restricted
funds
£
33,879
-
33,879		 2020
£
69,192
2,811
72,003
2019
£
116,549
1,546
118,095

9. TAXATION

The Gatton Trust Limited, as a registered charity, is exempt from taxation on capital gains and income arising and expended on its charitable activities.

20

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

10. TANGIBLE FIXED ASSETS
Plant and
Machinery
£
COST
At 1 September 2019
4,347
Additions
-
Disposals
-
At 31 August 2020
4,347
ACCUMULATED DEPRECIATION
At 1 September 2019
4,347
Charge for year
-
Disposals
-
At 31 August 2020
4,347
NET BOOK VALUE
At 31 August 2020
-
At 31 August 2019
-
11. DEBTORS
Trade debtors
Accrued income and prepayments
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Amounts owed to group undertakings
Accruals and deferred income		 10. TANGIBLE FIXED ASSETS
Plant and
Machinery
£
COST
At 1 September 2019
4,347
Additions
-
Disposals
-
At 31 August 2020
4,347
ACCUMULATED DEPRECIATION
At 1 September 2019
4,347
Charge for year
-
Disposals
-
At 31 August 2020
4,347
NET BOOK VALUE
At 31 August 2020
-
At 31 August 2019
-
11. DEBTORS
Trade debtors
Accrued income and prepayments
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Amounts owed to group undertakings
Accruals and deferred income		 Motor
vehicles
£
2,500
-
-
2,500
1,875
625
-
2,500
-
625
2020
£
467
519
986
2020
£
434
2,490
850
3,774		 Total
£
6,847
-
-
6,847
6,222
625
-
6,847
-
625
2019
£
3,637
2,726
6,363
2019
£
6,655
3,536
1,560
11,751

Amounts owed to the charitable corporation, Royal Alexandra and Albert School, are unsecured, interest-free and payable upon demand.

21

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Current liabilities
Net assets
Fixed assets
Current assets
Current liabilities
Net assets		 Unrestricted
funds
£
-
82,220
(3,774)
78,446
Unrestricted
funds
£
625
87,581
(11,751)
76,455		 Restricted
funds
£
-
17,286
-
17,286
Restricted
funds
£
-
32,002
-
32,002		 Total funds
2020
£
-
99,506
(3,774)
95,732
Total funds
2019
£
625
119,583
(11,751)
108,457

14. STATEMENT OF FUNDS

Unrestricted funds:
- General funds
- Designated funds
Restricted funds
Unrestricted funds:
- General funds
- Designated funds
Restricted funds		 At 1 Sept
2019
£
76,455
-
32,002
108,457
At 1 Sept
2018
£
63,874
-
59,950
123,824		 Income
£
54,410
-
4,868
59,278
Income
£
96,797
-
5,931
102,728		 Expenditure
£
(65,765)
-
(6,238)
(72,003)
Expenditure
£
(84,216)
-
(33,879)
(118,095)		 Fund
Transfers
£
13,346
-
(13,346)
-
Fund
Transfers
£
-
-
-
-		 At 31
Aug 2020
£
78,446
-
17,286
95,732
At 31
Aug 2019
£
76,455
-
32,002
108,457

15. DESIGNATED FUNDS

At 31 August 2020 (2019: none) there were no designated funds.

22

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

16. RESTRICTED FUNDS


Joint funds
Orchard Project
Parkland funds
Japanese Garden
Education funds
General Education
Reserves
Forest School For All
London School Project
Total Restricted Funds		 At 1 Sept
2019
£
68
68
550
550
29,584
1,800
-
31,384
32,002		 Income
£
-
-
2,858
2,858
-
510
1,500
2,010
4,868		 Expenditure
£
-
-
(2,303)
(2,303)
(1,625)
(2,310)
-
(3,935)
(6,238)		 Fund
Transfers
£
-
-
-
-
(13,346)
-
-
(13,346)
(13,346)		 At 31 Aug
2020
£
68
68
1,105
1,105
14,613
-
1,500
16,113
17,286

Restricted Funds comprise funds donated for the specific use of the projects noted above. Any amounts unspent in any year are carried forward to the next.

The General Education Reserves comprise the general funds of Gatton Park Education Trust Limited which were transferred at the time of the merger and which will continue to be restricted as per their original purpose.

At the end of the year, the Board took the decision to transfer the loss made on educational activities during the year, being £13,346, from unrestricted funds to the General Education Reserves, as it was felt that this loss was made on activities aligned with the charitable objectives of Gatton Park Education Trust Limited.

23

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

16. RESTRICTED FUNDS (continued)


Joint funds
Orchard Project
Volunteer Coordinator
Growing Together
Gatton Country Fair
Parkland funds
Japanese Garden
Education funds
General education
reserves
Stories in the Wild
Forest School For All
London School Project
Get Arty in August
Forest School Resources
Apple Project
Total Restricted Funds		 At 1 Sept
2018
£
68
3,040
959
-
4,067
50
50
31,176
1,180
-
12,452
-
-
11,025
55,833
59,950		 Income
£
-
-
-
2,301
2,301
500
500
-
-
1,800
-
500
830
-
3,130
5,931		 Expenditure
£
-
(3,040)
(959)
(2,301)
(6,300)
-
-
(1,592)
(1,180)
-
(12,452)
(500)
(830)
(11,025)
(27,579)
(33,879)		 Fund
Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 Aug
2019
£
68
-
-
-
68
550
550
29,584
-
1,800
-
-
-
-
31,384
32,002

17. ULTIMATE CONTROLLING PARTY AND PARENT CHARITY

The charitable corporation, Royal Alexandra and Albert School, is the parent undertaking and ultimate controlling party of the smallest and largest group to consolidate these financial statements as at 31 August 2020. Royal Alexandra and Albert School is a charity registered in the United Kingdom (registered charity number 311945) whose principal address is Gatton Park, Reigate, Surrey, RH2 0TW and its consolidated financial statements can be obtained from this address.

Royal Alexandra and Albert School is an educational charity whose principal purpose is to accommodate and educate ‘Foundationers’, children who are without one or both parents or whose special circumstances make it desirable for attending a boarding school. The parent charity’s activities include the provision of an education centre for the benefit of the School and the public, as well as the conservation of the historic landscape and buildings within Gatton Park. The parent charity exercises its control through the power to appoint or remove the majority of trustees.

24

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 (continued)

18. RELATED PARTY TRANSACTIONS
2020 2019
£ £
Donations received from related parties:
Gatton Community Theatre - 200
Netherby Trust - -

25