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2022-08-31-accounts

THE GATTON TRUST LIMITED

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

COMPANY REGISTERED NUMBER: 4216691 REGISTERED CHARITY NUMBER: 1101467

THE GATTON TRUST LIMITED

CONTENTS

Page(s)
Report of the Trustees 1-9
Independent Auditors’ Report 10-14
Statement of Financial Activities 15
Balance Sheet 16
Notes to the Financial Statements 17-26

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

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 2022. 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 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 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

The recovery of the charity from the impact of the COVID-19 pandemic has continued into this year. Most events and activities have been able to return to normal, with the main effect on the charity being reduced staff. This situation has improved throughout the year.

This year’s large restoration project has been the Pulhamite Pond in the Rock and Water garden. This is ongoing, but makes a significant difference to the garden. A trickling waterfall has been installed for the first time since the garden’s restoration.

Ash dieback has been increasing amongst the parkland trees and remedial work is beginning to have an impact on the appearance of the woodlands and gardens of the site. The cost of this work has been covered by the RAAS Foundation. This situation is likely to continue for some years to come.

1

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

Projects during the year

Volunteer Coordinator

This is a part-time one-year role which will support our existing team and recruit new volunteers. The new member of staff started in June 2022.

Partial funding for this staff member was provided by The National Lottery Community Fund

The Japanese Garden Restored

The Japanese Garden Society provided a grant to develop the planting of our Japanese Garden. A Japanese Landscape Designer provided expertise and financial support to build a stone path in the garden, as part of his work through the Japanese Embassy.

Funding for this project was provided by The Japanese Garden Society and Takuhirio Yamada

Golf Buggy

A new golf buggy was purchased in January 2022 for use by disabled visitors and less able gardeners to access all of our site.

Funding for this project was provided by The Hazel Usher Fund

Trees for the Future

Grants have been received to contribute to a larger project which will involve local schools in learning about trees, helping to plant tree seeds in a new nursery and planting more elm trees in the parkland. This project has been postponed to winter 2022/23.

Funding for this project was provided by Toyota (GB) Charitable Trust, Netherby Trust and Groundwork UK

Forest School For All

In Autumn 2021, Merstham Millennium Trust funded a second project to provide Forest School sessions to Merstham families, in partnership with Red Oak Children’s Centre. In Spring 2022, the Children’s Centre funded more families to take part in the project, following the benefits of this project to the families involved.

Funding for this project was provided by Merstham Millennium Trust

London School Project

School children from London Boroughs had the opportunity to spend a day at Gatton Park enjoying one of our curriculum-linked activities. Schools were selected to take part according to their need, allowing children who would otherwise be unable to take part in these outdoor experiences participate for free.

Funding for this project was provided by CLA Charitable Trust

2

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

Visitors and Education

During this period 16,792 (2021: 12,093) visits were made to the park as part of our events, activities and educational work. The park is in the grounds of Royal Alexandra and Albert School and is home to 75 resident staff and their families, and 425 boarding pupils (1,100 school pupils in total). In school holidays the site is let to other residential groups. In July 2022, Gatton Community Theatre used the park for promenade performances of The Passion Play, with 491 members of the audience in total. 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. Although higher numbers of visitors came to the park compared to a “normal” year, there were fewer than during the partial lockdowns of winter 2021.

Total attendance was 2,318 adults and 568 children (2021: 3,671 adults, 1,448 children, 2020: 1,647 adults, 429 children).

Events

For the first time in three years we were able to run Gatton Country Fair and our visitor numbers were higher than ever before with 3,615 people attending (2019: 1,510 people, previously our highest number).

Our other popular seasonal events, including Winter Welly Walk, Easter Egg Hunt and Halloween trails, were all successful although some did not reach last year’s level of visitors during partial lockdowns. We ran two days of open-air cinema in the summer totalling 540 people (2021: 169). This year, for the first time, we partnered with Run Reigate to put on two trail runs in February and July, with a total of 849 people attending.

Family Learning and Children’s Activities

Activity levels increased this year, with some limitations as a result of reduced staffing early in the year, but back to normal levels in the important summer holidays period.

Activities include our regular “Little Seeds Forest School” for pre-schoolers and parents and school holiday sessions - in total these events involved 799 children and 574 adults (2021: 665 children, 531 adults). Our regular Trails and Tales activities for toddlers and their parents attracted 785 children and 697 adults (2021: 526 children, 479 adults).

Groups of children from organisations such as Young Carers and other youth groups also visited for activities in the park, totalling 249 visitors (2021: 200). Children’s birthday parties were attended by 416 people (2021: 141).

School Visits

The hardest hit area of our work during the COVID-19 crisis was our school visits. Schools have returned this year, but not to the same levels as pre-pandemic, with many schools booking later rather than committing in advance. This year 2660 school children visited the park (2021: 588, 2019: 3,288).

3

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

Volunteers

Volunteering is essential for our charitable activity to continue at the level we achieve. Volunteers help with every aspect of our work, from governance by our trustees, gardening and parkland conservation, supporting our school visits and family activities, running events, office work and fundraising. There are 99 volunteers who regularly support the work of the Trust (2021: 87 volunteers). In total they provided 4,820 volunteer hours (2021: 3,199).

Corporate Volunteering

This year corporate volunteering has increased but has not returned to pre-pandemic levels. We welcomed 7 groups of volunteers totalling 311 volunteer hours contributed (2021: 1 group, 2019: 17 groups).

Staffing

Throughout this year staffing has increased, with growing confidence of events being able to return to pre-pandemic levels. In November 2021, an Events and Marketing Officer joined as a part-time member of staff. In March 2022, a new full-time Education Officer was employed and in June 2022 a Volunteer Coordinator (part-time) was employed thanks to a grant from the National Lottery Community Fund.

Funding

Our reliance on external funding from charitable trusts and businesses was reduced this year, due to low staffing levels. The success of our National Lottery Community Bid for the Volunteer Coordinator and a very successful Country Fair have maintained a good level of financial stability. We continue to rely on our volunteer fundraiser for researching and making applications.

Park and Gardens

The Gardens

The Japanese Garden has developed with a new stone path being laid across one of the beds and plants donated by the Japanese Garden Society. A number of ash trees have had to be felled on the periphery of this garden, which has had an impact on its atmosphere. Some replacement planting will be introduced in future years.

The focus in the Rock and Water Garden this year has been the Pulhamite Pond and waterfall. Expert contractors have lined the pond to ensure it retains water and recreated the waterfall. Work continues in-house to repair the slabbed path around the ponds and replant the beds immediately next to the pond.

The heat and lengthy drought this summer has had an impact on the gardens and park. Staff and volunteers have worked hard to water recently planted trees, but some trees and shrubs have been lost. The drought is also thought to have caused a leak in another of our Rock Garden ponds. Repairs are being made.

4

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

The Gardens (continued)

Work has continued on the restoration of The Old World Garden which currently lies hidden amongst trees in the Pleasure Gardens. Restorative pruning of the yew trees which once formed a hedge around the pond and rose garden has continued.

The orchard has been maintained throughout the year and had a good crop of apples. Our nursery and greenhouse facilities have been used by our propagation volunteer team to improve plant stock and sales 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 still require restoration following the ground source heat project.

Tree surveys were carried out as usual this winter and later in the year for ash dieback. 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. A number of limbs and trees were lost to the strong winter storms in February. Additional planting was completed with a Red Robin hedge in the school grounds, a group of pines in honour of the queens Jubilee, and several hundred native shrubs and small trees in Tower Wood, Temple Wood and Cedar Walk.

Work to maintain the viewpoints with scrub/ bramble clearance and to remove invasive species such as horsetail continues. Key areas cleared included the western terrace and slope towards pleasure gardens as well as around the panhandle island in Cedar Walk.

FINANCIAL REVIEW

Income and expenditure

The surplus for the year ended 31 August 2022 was £34,489 (2021: £31,645). There was a surplus within unrestricted funds of £23,650 (2021: £23,622) reflecting continued financial stability. Restricted funds had a surplus of £10,839 (2021: £8,023) owing to funding received for the Dementia Adventure project and Volunteer Coordinator not yet being fully spent.

Income for the year ended 31 August 2022 amounted to £141,418 (2021: £93,662). Donations and voluntary income received amounted to £21,709 (2021: £12,556). 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 £69,107 (2021: £32,264). Many more activities could be run during this year than last year, promoted by the newly recruited Events and Marketing officer. Details of the activities are included in this report.

Staffing expenditure represents the salary and related costs of the Chief Executive and her education team which have not been recharged to specific projects.

5

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

Net current assets

These comprise principally cash at bank.

Reserves

At 31 August 2022, reserves amounted to £161,866 (2021: £127,377) of which £125,718 (2021: £102,068) comprise unrestricted reserves. As at 31 August 2022, unrestricted reserves included £55,000 (2021: none) designated to future projects, details of which are given in Note 15.

Of the £36,148 restricted reserves at 31 August 2022 (2021: £25,309), £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 £48,925 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 2022 was £125,718 which implies there was a reserves surplus of £76,793. This policy is reviewed annually.

6

THE GATTON TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

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”).

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

Peter Dawson David Frank Margaret Kippen Alan Mortlock Helen Neve Gail Sperrin

Chief Executive Louise Miller

Principal Office Foundation Office Gatton Park Reigate Surrey RH2 0TW Charity Number: 1101467

Auditors

Moore Kingston Smith LLP Betchworth House 57-65 Station Road Redhill Surrey 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 2022 (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 2022 (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 2022 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

23 November 2022

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 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including 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

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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 contained within the annual report. 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.

10

THE GATTON TRUST LIMITED

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

OTHER INFORMATION (continued)

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 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. 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 charitable 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 set out on page 8, the Trustees (who are also 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)

EXPLANATION AS TO WHAT EXTENT THE AUDIT WAS CONSIDERED CAPABLE OF DETECTING IRREGULARITIES, INCLUDING FRAUD

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

13

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 charitable 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.

20/12/2022

James Saunders (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP Statutory Auditor

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

14

THE GATTON TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022

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 INCOME/(EXPENDITURE) AND
NET MOVEMENT IN FUNDS
Reconciliation of Funds
FUND BALANCES brought forward at
1 September
FUND BALANCES carried forward at 31
August		 Unrestricted
funds

£
69,107
50,602
-
2,069
121,778
21,275
12,592
56,965
5,352
1,944
98,128
23,650
102,068
125,718		 Restricted
funds
£
-
-
-
19,640
19,640
1,583
622
3,241
3,306
49
8,801
10,839
25,309
36,148		 2022
Total
£
69,107
50,602
-
21,709
141,418
22,858
13,214
60,206
8,658
1,993
106,929
34,489
127,377
161,866		 2021
Total
£
32,264
36,794
12,048
12,556
93,662
5,594
4,347
48,867
2,501
708
62,017
31,645
95,732
127,377

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.

15

THE GATTON TRUST LIMITED

BALANCE SHEET AS AT 31 AUGUST 2022

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		 2022
£
2,607
5,310
178,156
183,466
(24,207)
159,259
161,866
36,148
125,718
161,866		 2021
£
-
2,556
131,239
133,795
(6,418)
127,377
127,377
25,309
102,068
127,377

The financial statements on pages 15 to 26 were approved by the Board on 23 November 2022 and were signed on its behalf by:

David Frank

Chairman

Company registration number: 4216691

16

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 charitable 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 show a surplus with the activity programme largely returning to normal by the end of the year. Income has recovered beyond pre-pandemic levels. 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.

17

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (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 £2,000 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.

18

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (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 15.

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.

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 charitable 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		 2022
£’000
-
21,708
21,708		 2021
£’000
12,048
12,556
24,604

In the previous year, grants from government and other public bodies comprised grants from the government of £12,048 claimed through the Coronavirus Job Retention Scheme to cover employees’ wages.

19

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

5. DONATIONS AND VOLUNTARY INCOME (continued)

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

2022 2021
£ £
The National Lottery Community Fund 10,000 -
Hazel Usher Fund 5,100 -
The Bryan and June Amos Foundation 2,400 -
Takuhirio Yamada 840 -
Jeremiah Colman Gift Trust 750 750
Netherby Trust - 5,000
Merstham Millennium Trust - 2,010
Toyota (GB) Charitable Trust - 2,000
The Tree Council - 1,228

6. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES

The monthly average number of employees was 3.3 (2021: 2.7). Calculated as full time equivalents the employee number was 1.8 (2021: 1.5). All employees are involved in the delivery of education activities.

Staff costs
Wages and salaries
Social security costs
Other pension costs		 2022
£
51,020
3,373
2,258
56,651		 2021
£
41,133
2,720
2,239
46,092

None of the employees earned more than £60,000 (2021: none). None of the Trustees received any remuneration or expenses (2021: none).

Audit fees of £2,365 (2021: £2,150) were borne by the parent charity who made no recharge.

20

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

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
Comparative year
Park and garden conservation
Open day and event costs
Non project staffing costs
Environmental education projects
Marketing		 Direct
costs
£
21,221
12,268
55,894
8,038
1,850
99,271
Direct
costs
£
5,254
4,082
45,893
2,349
665
58,243		 Support
costs
£
1,637
946
4,312
620
143
7,658
Support
costs
£
340
265
2,974
152
43
3,774		 2022
£
22,858
13,214
60,206
8,658
1,993
106,929
2021
£
5,594
4,347
48,867
2,501
708
62,017

8. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE

Current year
Direct costs
Support costs
Comparative year
Direct costs
Support costs		 Unrestricted
funds
£
93,077
5,051
98,128
Unrestricted
funds
£
56,028
3,774
59,802		 Restricted
funds
£
6,194
2,607
8,801
Restricted
funds
£
2,215
-
2,215		 2022
£
99,271
7,658
106,929
2021
£
58,243
3,774
62,017

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.

21

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

10. TANGIBLE FIXED ASSETS

Plant and
Machinery
£
COST
At 1 September 2021
4,347
Additions
-
Disposals
-
At 31 August 2022
4,347
ACCUMULATED DEPRECIATION
At 1 September 2021
4,347
Charge for year
-
Disposals
-
At 31 August 2022
4,347
NET BOOK VALUE
At 31 August 2021
-
At 31 August 2022
-
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
5,214
-
7,714
2,500
2,607
-
5,107
-
2,607
2022
£
4,346
964
5,310
2022
£
815
19,585
3,807
24,207		 Total
£
6,847
5,214
-
12,061
6,847
2,607
-
9,454
-
2,607
2021
£
1,240
1,316
2,556
2021
£
224
4,206
1,988
6,418

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

22

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current year
Fixed assets
Current assets
Current liabilities
Net assets
Comparative year
Fixed assets
Current assets
Current liabilities
Net assets		 Unrestricted
funds
£
114
149,811
(24,207)
125,718
Unrestricted
funds
£
-
108,486
(6,418)
102,068		 Restricted
funds
£
2,493
33,655
-
36,148
Restricted
funds
£
-
25,309
-
25,309		 Total funds
2022
£
2,607
183,466
(24,207)
161,866
Total funds
2021
£
-
133,795
(6,418)
127,377

14. STATEMENT OF FUNDS

Current year
Unrestricted funds:
- General funds
- Designated funds
Restricted funds
Comparative year
Unrestricted funds:
- General funds
- Designated funds
Restricted funds		 At 1 Sept
2021
£
102,068
-
25,309
127,377
At 1 Sept
2020
£
78,446
-
17,286
95,732		 Income
£
121,778
-
19,640
141,418
Income
£
83,424
-
10,238
93,662		 Expenditure
£
(83,128)
(15,000)
(8,801)
(106,929)
Expenditure
£
(59,802)
-
(2,215)
(62,017)		 Fund
Transfers
£
(70,000)
70,000
-
-
Fund
Transfers
£
-
-
-
-		 At 31
Aug 2022
£
70,718
55,000
36,148
161,866
At 31
Aug 2021
£
102,068
-
25,309
127,377

23

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

15. DESIGNATED FUNDS


Parkland funds
Pulhamite Pond
Footpaths in Rock Garden
Japanese Garden
Old World Garden
Glasshouse Restoration
Total Designated Funds		 At 1 Sept
2021
-
-
-
-
-
-
-		 Income
-
-
-
-
-
-
-		 Expenditure
(15,000)
-
-
-
-
(15,000)
(15,000)		 Fund
Transfers
15,000
15,000
5,000
5,000
30,000
70,000
70,000		 At 31 Aug
2022
-
15,000
5,000
5,000
30,000
55,000
55,000

There were no designated fund movements in the year ended 31 August 2021.

The designated funds have been set aside by the Trustees to fund approved expenditure on the above projects, all of which involve the reconstruction and conservation of the gardens and parkland. The timing of approved expenditure is uncertain as this is dependent on a number of factors including seasonal considerations and availability of specialist assistance.

16. RESTRICTED FUNDS

Current year
Joint funds
Orchard Project
New Golf Buggy
Gatton Country Fair
Parkland funds
Japanese Garden
Trees For The Future
Japanese Garden Path
Dementia Adventure
Japanese Garden Planting		 At 1 Sept
2021
£
68
-
-
68
118
7,000
-
-
-
7,118		 Income
£
-
5,100
300
5,400
-
500
840
2,400
500
4,240		 Expenditure
£
(68)
(2,607)
(300)
(2,975)
(118)
-
(840)
-
-
(958)		 Fund
Transfers
£
-
-
-
-
-
-
-
-
-
-		 At 31 Aug
2022
£
-
2,493
-
2,493
-
7,500
-
2,400
500
10,400

24

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

16. RESTRICTED FUNDS (continued)

Education funds
General Education
Reserves
Forest School For All
London School Project
Volunteer Coordinator
Total Restricted Funds		 14,613
2,010
1,500
-
18,123
25,309		 -
-
-
10,000
10,000
19,640		 -
(1,595)
(1,500)
(1,773)
(4,868)
(8,801)		 -
-
-
-
-
-		 14,613
415
-
8,227
23,255
36,148

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.

Comparative year
Joint funds
Orchard Project
Parkland funds
Japanese Garden
Trees For The Future
Education funds
General education
reserves
Forest School For All
London School Project
Total Restricted Funds		 At 1 Sept
2020
£
68
68
1,105
-
1,105
14,613
-
1,500
16,113
17,286		 Income
£
-
-
-
8,228
8,228
-
2,010
-
2,010
10,238		 Expenditure
£
-
-
(987)
(1,228)
(2,215)
-
-
-
-
(2,215)		 Fund
Transfers
£
-
-
-
-
-
-
-
-
-
-		 At 31 Aug
2021
£
68
68
118
7,000
7,118
14,613
2,010
1,500
18,123
25,309

25

THE GATTON TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

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 2022. 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.

18. RELATED PARTY TRANSACTIONS

2022 2021
£ £
Donations received from related parties:
G Sperrin - 400
Sales to related parties:
G Sperrin - 200
Purchases from related parties:
Gatton Community Theatre 801 810

26