THE GArroN TRUST LIMITED TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31AUGUST 2023 COMPANY REGISTERED NUMBER.. 4216691 REGISTERED CHARITY NUMBER: 1101467
THE GArroN TRUST LIMITED CONTENTS Pagelsl Report of the Trustees Independent Auditors, Report 10-14 Statement of Financial Activities 15 Balance Sheet 16 Notes to the Financtal Statemenis 17-26
THE GAThON TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31AUGUST 2023 The Trustees present their annual report which includes the requirement5 of a directors. report Ljnder company law and the audited financial statement5 of The Gatton Trust Limited I'the Charity") for the year ended 31" August 2023. 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 26, 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 I'FRS 102,1. 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: restore, conserve, protect and improve the physical and natural environment of the parkland, gardens and historic buildings of Gatton Park- to develop and enhance the means of access to Gatton Park for as wide a section of the community as possible,. dvance education for the whole community and facilitate the study of subjects such as natural history, history and environmental education,. and advance the education of the pupils of the Royal Alexandra and Albert School. The Trustees, current priorities to further the Charity's purposes for the public benefit are.. to continue the ongoing programme of conseNation and maintenance of the grounds and gardens,. through a programme of open days, events and special projects continue to expand vi51tors of all age groups including those with disabilities and the community generallv; to mainlain and build on the relationship between the Charity and other users of Gatton Park,. to maintain a pool of volunteers to assist with all aspect5 of the CharitV'5 work; to fundraise for all of the above. ACHIEVEMENTS ANO PERFORMANCE Overview The restoration of the Pulhamite pond in the Rock Garden ha5 continued this year, with the improvement of the surrounding paving and associated planting. The final part of the project will continue into next year with the repair of the steps below the pond. The pond and associated waterfall have transformed the garden. 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 year5 to come. A woodland management plan is being finalised to facilitate this work.
THE GArroN TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31AUGUST 20231contlnued} Pro ects durln the ear Volunteer Coordlnator Partial funding for this part-time staff member was provided by The National Lottery Community Fund. This essential role has continued beyond the completion of the grant. The return of the role, post-covid, ha5 helped us to increase our volunteer numbers and the hours contributed to our charitable work. Trees for the Future During the autumn and winter, local schools were involved in this project to learn about woodlands and to collect and plant seed5 to grow seedling5 from our own ancient trees. Each group also planted di5ea5e-re515tant elm5 in the parkland and understorey saplings in the woodlands. Funding for this project was provided by Toyota IGBI Charitable Trust, and Netherby Trust Dementia Adventure This project is run in partnership wilh MHS Communities Southeast. Each month we run a workshop for people with dementia and their carers using Gatton Park as inspiration. The sessions involved gardening and crafts and other seasonal activities such as picnics and juicing apples from the orchard. Each month our visitors can enjoy a drive around the park in our golf buggy. Funding for thi5 project was provided by the Brian and lune Amos Foundation and a further year of the project has been secured with furbding from the Shanly Foundation. Vlsltors and Education During this period 17,85112022.. 16, 7921 visits were made to the park as part of our events, activities and educalional work. The park is in the grounds of Royal Alexandra and Albert School and is home to 145 resident staff and their families, and 422 boarding pupils11,095 school pupils in totall. In school holidays the slte is let to other residential groups. In July 2022, Gatton Community Theatre used the park for performances of Wind in the Willows, with 1054 members of the cast, crew and 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. Total attendance was 2441 adults and 832 children12022.' 2318 adults, 568 children,). Events Our biggest event, Gatton Country Fair, had lower visitor numbers than last year with 2636 people attending12022.' 3615 people our highest ever number). The reasons for thi5 may be the post-covid boom last year and increased price this year. Overall the experience was better for visitors this year and the income was not Significantly reduced.
THE GAThON TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31AUGUST 2023 (contlnuedl Our other popular seasonal events, including Winter Welly Walk, Easter Egg Hunt and Halloween trails and fairytale treasure hunt were all successful totaling 1585 adults and 1268 children 12022..973 adults, 757 children). This year, we ran one trail run in partnership with Run Reigate, with a total of 487 people attending.12022'. 2 runs 849 runners) Thi5 included a canicross event for runner with dogs, which was very popular. Famlly Learnlng and Chlldren's Actlvltles During term-time we run two regular activities for parents and pre-schoolers- Little Seeds Forest School and the story-based Trails and Tales. During school holidays we run a variety of sessions for a wider range of ages. The number of participants increased this year from last year's numbers- 1798 children and 1546 adult$12022.. 1584 children, 1271 adults). Groups of children from organi5ations such as Young Carer5 and other youth groups also v15ited for activities in the park. totaling 331 visltors12022: 2491. Children's birthday parties were attended by 674 people12022: 4161 School Vlsits School vi5it5 have still not quite returned to pre-covid numbers. Schools tended book later meaning that our availability at peak times was limited by staffing levels and indoor space. This year 2690 school children visited the park12022: 2660, 2019: 3,2881- Volunteers Volunteering is essential for our ¢harFtable activity to contlnue at the level we achieve. Volunteers help with every aspect of our work, from governarice by our trustees, gardening and parkland conseNation, supporting our school visits and family activities, running event5, office work and lundrai5ing. There are 101 volunteers who regularly support the work of the Trust12022.' 99 volunteers). In total they provided 7401 volunteer hours12022: 48201. Corporate Volunteerin Corporate volunteering was useful contribution to our work force in the year before Covid, but we have not attracted as many groups since the pandemic. We welcomed 5 groups of volunteers totalling 311 volunteer hours contributed12022: 7 groups, 311 hours 2019.. 17 group51- Staffin Staffing changes have been small this year. A new Volunteer Coordinator started in November and a new part-time gardener joined in March, following resignations of the previous employees. The Events and Marketing Offiter reduted his hours to 24 hours per week in january and the Chief Executive's hours were increased to full-time in April. Fundln The National Lottery Community Fund support for the Volunteer Coordinator has allowed us to maintain financial stability this year. This has also been achieved as a result of a 8enerous donation from our local golf club towards our work and an education project during the winter months. We continue to rely on our volunteer fundraiser for researchin8 and making applications.
THE GATTON TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 (continued) Park and Gardens The Gardens The Japanese Garden has continued to improve with additional planting of Acers, Hydrangeas and japanese grasses as well as general maintenance to wider garden. The focus in the Rock and Water Garden this year has been the Pulhamite Pond and waterfall. Work by our in-house team of staff and volunteers has allowed completion of the repair to the slabbed path around the ponds. The pond in the upper part of the rock garden was repaired by contractors, following a split in the concrete liner caused by the high temperatures experienced in the previous summer. Thi5 year has seen the continuation of the initial phase of 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. Fundraising has started for the removal of trees, repair of features and plantin8. 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 Tree surveys were carried out as usual this winter and later in the year for ash dieback. Our strategy to deal with ash dieback ha5 had to be reas5e55ed a5 the disease has more imp3£t on our woodlands. A woodland management plan has beer) drawn up and ha5 now been agreed by the Forestry Commission. This will allow larger Scale felling in woodland areas. Thi5 work will be spread over a number of years for financial reason5. The costs of these essential Safety works will be met by the Charitable Fotjndation Royal Alexandra and Albert School a5 landowner. The maintenance of the parkland carried out this year included grassland management by grazing with sheep and mowing with the aim of promoting biodiversity in the grasslands. Further clearing of the Cedar walk area and more extensive mowing down to panhandle has been undertaken. 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 35 around the panhandle i51and in Cedar Walk. We continued the reintroduction of elm5 to the parkland with 8 new semimature 'New Horizon, trees. The team linked up with Surrey Wildlife Trust to do a hedge laying workshop with volunteers and then create a length of traditional hedge along the serpentine canal.
THE GAThON TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31AUGUST 2023 Icontlnued) FINANCIAL REVIEW Income and expenditure The surplus for the year ended 31 August 2023 was £16,42912022.' £34,489). There was a surplus within unrestricted funds of £35,35012022.. £23,650) reflecting continued financial stabilitv. Restricted funds had a deficit of £18,92112022: £10,839 surplus) owing to the spending on the Trees For The Future and Dementia Adventure projects for which funding was received last year, and the recruitment of a Volunteer Coordinator for which funding was received last year. Income for the year ended 31 August 2023 amounted to £148,73912022.' £141,418). Donations and voluntary income received amounted to £13,05812022: £21,709). A list of all donations of £750 or more 15 included in the Notes to the Financial Statements. Open day and related income amounted to £76,25012022.. £69.1071. A full activity programme wa5 run this year, promoted ar)d managed by the Event5 and Marketing officer. Details of the activitie5 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. Net current assets These comprise principally cash at bank. Reser¥es At 31 August 2023, reserves amounted to £178,29512022'. £161,866) of which £161,06812022: £125,718) comprise unrestricted reserves. As at 31 August 2023, unrestricted reserves included £91,41512022.' £55,CQOI designated to future projects, details of which are given in Note 15. Of the £17,227 restricted reserves at 31 August 202312022.. £36,148), £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 2C(J9. Going Concern Having made appropriate enquirles, the Trustees are satisfied that the Charity has adequate resources to continLse for the foreseeable future. For this reason, the Trustees have continued to adopt the going concern basis of accounting.
THE GArroN TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 (continued) 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.. a review of all the risks that the Charity may face in it5 normal operations forthe financial yeaf ahead,. an assessment of the likelihood of those risks occurring, together with an assessment of their impact,. the establishment of procedures, actions and systems to mitigate the risks identified and to minimise any potential impact on the Charity. The principal risks and uncertainties that the Charity faces are 5ummarised as: insufficient funds raised from fundraising activities withdrawal of support from the parent undertaking.. Royal Alexandra and Albert School 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. ReBular meetings are held with the Trustees and the parent undertaking is kept informed of the Charitvs 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 £62,625 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 2023 was £161,068 which implies there was a reserves surplus of £98,443. This policy is reviewed annuallv.
THE GAThON TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31AUGUST 2023 (continued) STRucfuRE, GOVERNANCE AND MANAGEMENT The Gatton Trust Limited I"Gatton Trust" or.the Charity"), Iregistered company number 42166911, charitable company limlted by guarantee, was incorporated on 15 May 2001. The company became a registered charity on 12 january 2004 (registration number 11014671. The governing documents are the Memorandum and Articles of AsSOClation. The sole member of the company is the charitable corporation Royal Alexandra and Albert School I'the Foundation" or "RAAS"). Olrectors 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 remur)eration was paid in the year. Trustees are required to disclose all relevant interests and register them with the Chairman and to withdraw from declsions where a conflict of Interest arises. Royal Alexandra and Albert School, the parent charity, maintain5 liability insurance for the Trustee5 and officers of it5 subsidiary Undertakings including the Charity, which qualifies a5 a third party indemnity provision for the purposes of the Companies Act 2C(J6. 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 Elizabeth Lowe Alan Mortlock Helen Neve Gail Sperrin Chief Executlve Louise Miller Prlncipal Office Foundation Office Gatton Park Reigate Surrey RH2 OTW Charity Number: 1101467 Audltors Moore Kingston Smith LLP Betchworth House 57-65 Station Road Redhill Surrey RHI IDL 8ankers CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ Solicitors Farrer & Co LLP 66 Lincoln's Inn Fields London WC2A 3LH
THE GArroN TRUST LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31AUGUST Z023 Icontlnued) STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directors of The Gotton Trust Limited for the purposes of company Saw) 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 fin3ncial 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 Practitel. Under company law the Tru5tee5 must not approve the financial statements unles5 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 h3ritable company for that period. In preparing these financial statements, the Trustees are required select suitable accounting policies and then apply them con5i5tently,' observe the methods and principles in the Statement of Recommended Practice: Accounting and Reporting by Charities120151.' make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards, comprising FRS 102, have been followed, subject to any materi31 departure5 disclosed and explained in the financial statement5,' and prepare the financial statements on the going concern basis unles5 It is inappropriate to presume that the charitable Company will continue in business. The Trustees are responsible for keeping adequaie 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 3re also responsible for safeBuardinE the assets of the charitable company ar)d 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.
THE GAThON TRUST LIMITED REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 (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 15 approved, that.. lal so far as the director is aware. there is no relevant audit information of which the charitable company's auditors are unaware; and Ibl he has taken all the steps that he ought to have taken a5 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, 5414B, The Gatton Trust Limited is entitled to small companies exemption in relation to the strate8ic report for the financial year ended 31 August 2023 a5 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.. Davld Frank Chairman l December 2023 The Gatton Trust Limited Company registered number.. 4216691
THE GAThON TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GAThON TRUST LIMITED OPINION We have audited the financial statements of The Gatton Trust Limited for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including significant accounting policies. The financia5 reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includin8 FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland, Iunited Kin8dom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 Augusi 2023 and of it5 incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prattite,. and have been prepared in accordance with the requirements of the Companie5 Act 2(XJ6. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs 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 requirement5. We believe that the audit evidence we have obtained is Sufficient and appropriate to provide a ba515 for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the Tru5tee5' 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 relatin8 to events or conditions that, individually or collectively, may cast significant doubt on the charitable company'5 ability to continue a5 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 80ing concern are described in the relevant sections of this report. OTHER INFORMATION The other informètion 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 doe5 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. io
THE GAThON TRUST LIMITED INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE GAThON TRUST LIMITED {continuedl OTHER INFORMATION Icontinuedl Our responsibility is to read the other information and, doir¢g so. consider whether the other information is materially inconsistent with the financial statements or our knowled8e obtained in the course of the audit or otherwise appears to be materially mi55tated. 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 re8ard. OPINIONS ON OTHER MArrERS PRESCRIBED BYTHE COMPANIESACT 21)06 sn our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Trustees, Annual Report has been prepared in accordance with applicable legal requirements. MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charitable company and it5 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.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statement5 ore not in agreement with the accountlng records and returns,. or certain disclosures of Trustees, remuneration Specified by law are not made- or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies re8ime and take advantage of the small companies exemption in preparing the Trustees, Annual Report and from preparing a strategic report. RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustee5' responsibilities statement set out on page 8, the Trustees (who are also directors of the charitable company for the purposes of company lawl 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 80ing 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 50.
THE GArroN TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GAThON TRUST LIMITEO (continued) AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OFTHE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financlal 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 hi8h level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI 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 IUKI we exercise professional judgement and maintain professional sceptlCi5m throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omi55ions, misrepresentotions, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company's internal control. Evaluate the appropriateness of accounting pollcies used and the reasonableness of accounting estimates and related disc105ures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertointy exists. we are required to draw attention in our auditorfs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a goin8 concern. Evaluate the overall presentation, structure and content of the financial statements, Including the disclosures, and whether the financial statements represent the underlying transaction5 and events in a manner that achieves fair presentation. 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 GAThON TRUST LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GAThON TRUST LIMITED (continued) EXPLANATION AS TO WHAT EXTENT THE AUDIT WAS CONSIDEREO CAPABLE OF DETEcnNG IRREGULARITIES, INCLUDING FRAUD Irregularities, including fraud, are instance5 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 materSal 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 desi8ning 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.. We obtained an understanding of the legal and re8ulatory requirements applicable to the charitable company and considered that the most Sl8nificant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council. We obtained an understanding of how the charitable company tomplie5 With these requirements by discussions with management and those Charged with governance. We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with mana8ement and those charged with governance. We inquired of management and those charged with governance as to any known instances of non-compliance or Suspected non-compliance with laws and regulations. Based on this understandin& we desi8ned specific appropriate audit procedures to identify instances of non-compliance with laws and re8u5ations. This included makin8 enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. 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 GArroN TRUST LIMITED INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE GAThON 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 audlt Work has been undertaken so that we might state to the charitable compar)y's members those matters we are required to state to them in an auditorfs 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 audlt work, for this report, or for the opinions we have formed. James Saunders (Senior Statutory Auditor) 19 December 2023 for and on behalf of Moore Klngston Smith LLP Statutory Auditor Betchworth House 57- 65 Station Road Redhill Surrey RHI IDL 14
THE GArroN TRUST LIMITED STATEMETrif OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Note Unresirlcted funds Restrlcted funds 2023 Total 2022 Total INCOME FROM Charitable aclivlties Open days and related income Environmental education 76,050 59,431 200 76,250 59,431 69,107 50,602 Donatlon5 Grants from 6overnment ènd other public bodies Voluntary income 6,258 6.800 13.058 21,709 TOTAL 141,739 7,000 148,739 141,418 EXPENDITURE ON Charitable a¢tlvltles Park and garden conservation Open day and event costs Non project staffin8 COStS Environmental education projects 15,580 12,338 67,335 7,608 IS,16S 441 9,678 569 30,745 12,779 77.013 8,177 22,858 13.214 60,206 8,658 Ralsing fund5 Marketing 3,528 68 3,596 1,993 TOTAL 106,389 25,921 132,310 106,929 NET INCOMEIIEXPENDrruREI AND NETMOVEMENT IN FUNDS 35,350 118.9211 16.429 34,489 Reconclllatlon of Funds FUND BALANCES brought forward al I September 125,718 36.148 161,866 127,377 FUND BALANCES ¢arrled forward at 31 Au8USt The resulis shown above are attributable to continuing operaiionsonly.The Charity had no other¢omprèhensive income or 105ses other than those dealt with in the Statement of Financial Activities. There are no material differences between the rnei lexpenditurell income and the fund balances carried forward stated above and their historical cost equivalents. The account5 have been prepared in line with FRS 102. 15
THE GAThON TRUST LIMITED BALANCE SHEET AS AT 31 AUGUST 2023 Note 2023 2022 FIXED ASSETS Tangible assets io 535 2,607 CURRENT ASSETS Debtors Cash at bank and in hand Total current a55ets li 5,275 182,661 187,936 5,310 178,156 183,466 LIABILITIES Creditors.. Amounts fallin8 due within one year 12 110.1761 124,2071 CURRENT ASSETS 159,259 NET ASSETS 178,295 161,866 THE FUNDS OF THE CHARITY: Restricted income funds Unrestricted income funds 13,14,16 13,14,15 17,227 161,068 36,148 125,718 TOTAL CHARITY FUNDS 178,295 161,866 The financial Statements on pages 15 to 26 were approved by the Board on l December 2023 and were Signed on its behalf by.. David Frank Chalrman Company registration number: 4216691 16
THE GAThON TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 I. GENERAL INFORMATION The Gatton Trust Limited I'the Charity'l is a charitable company limited by guarantee, incorporated in the United Kingdom (registered company number 42166911 and is a charity domiciled in the United Kingdom (registered charity number 11014671. The Charity's registered office and operational address is.. Royal Alexandra and Albert School, Gatton Park, Reigate, Surrey RH2 OTW. The Gatton Trust Limited is a public benefit entity. 2. ACCOUNTING CONVENTION The financial statements have been prepared irb accordance with FRS 102 'Ihe Firbancial Reporting Standard applicable in the UK and Republic of Ireland" Accounting and Reporting by Charities.. Statement of Recommended Practice Icharities SORP IFRS 10211, 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= lil Under FRS 102 paragraph 1.12 Ibl, from preparing a statement of cash flows lill Certain disclosure requirements of section 11 in respect of financial instruments liiil 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 toncern The results for the year show a surplus with the activity programme having fully returned to normal following the pandemic. A full artivity programme is planned for the coming year, therefore there is no indication that income will fall in the next year. 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 GArroN TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 {continuedl 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Icontlnuedl Incomlng 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 corporatel, 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 expendlture and management and admin15tratlon expendlture 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 a5 a liability arises. Allocation of 5UPPOrt 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 qualifyir)g pension scheme established with the National Employment Savings Trust. Contribution5 for one employee are pald into a personal pension scheme with Friends Provident. Both Scheme's assets are invested separately from the Charity's assets and payments are char8ed 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 activitles. or capitalised as part of the cost of the related asset, as appropriate. Tanglble flxed assets and depreclatlon Tangible fixed assets, costing £2,(X)O 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 ba5e5= Motor Vehicles Plant and machinery 50% strai8ht line 25% straight line The useful economic lives and residual value of fixed assets are reviewed at the end of each accounting period. 18
THE GAThON TRUST LIMITED NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Icontinuedl 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLiaES Icontlnued) Unrestricted fund5 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. Deslznated funds Designated funds comprise unrestritted 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. Restrlcted 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. Crltlcal accountlng Judgements and estlmatlon uncertalnty Estimates and jud8ments 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 a55umptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related octual 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 vear. 4. STATUS The charitable company is limited by guarantee and has no share capital. The liability of the member in the event of a windin8 up is limited to £1. 5. DONATIONS AND VOLUNTARY INCOME 2023 £'ooo 2022 E'OOO Grants and donations comprise.. Grants from government and other public bodie5 Donations and other voluntary income 13,058 13,058 21,708 21,708 19
THE GArroN TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 (contlnued) S. DONATIONSAND VOLUNTARY INCOME Icontlnuedl Donations and other voluntary income inclLtde the following amounts received of £750 and over: 2023 202Z Reigate Hill Golf Club Shanly Foundation The Nineveh Charitable Trust Jeremiah Colman Gift Trust The National Lottery Community Fund Hazel Usher Fund The Bryan and June Amos Foundation Takuhirio Yamada 4,050 3,300 3,CKJO 750 750 10,0 5.100 2.400 840 6. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES The monthly average number of employees was 4.712022: 3.31. Calculated as full time equivalents the employee number was 2.912022: 1.81. All employees are involved in the delivery of education activities. staff costs 2023 2022 Wages and salaries Social security costs Other pension costs 73,055 4,864 3,362 81,281 51.020 3,373 2,258 56,651 None of the employees earned more than £60,00012022'. nonel. None of the Trustees received any remuneration or expenses12022'. none). Audit fees of £2,52512022: £2,3651 were borne by the parent charity who made no recharge. 20
THE GAThON TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 {continuedl 7. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Dlrect costs Support ¢05ts Current year 2023 Park and garden conservation Open day and event costs Non project staffinE Costs Environmental education projects Marketin8 28,204 11,722 70,647 7,501 3,299 121,373 2,541 1,057 6,366 676 297 10,937 30,745 12,779 77,013 8,177 3,596 132,310 Comparative year Dlrect cost5 Support costs 2022 Park and garden conservation Open day and event costs Non project staffing c05t5 Environmental education projects Marketin8 21,221 12,268 55,894 8,038 1,850 99,271 1,637 946 4,312 620 143 7,658 22,858 13,214 60,206 8,658 1,993 106,929 B. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestrlcted funds Restrlcted funds Current year 2023 Oirect costs Support costs 97,945 8,444 106,389 23,428 2,493 25,921 121.373 10.937 132,310 Unrestri¢ted fund5 Restricted funds Comparative year 2022 Direct cost5 Support cost5 93,077 5,051 98,128 6,194 2,607 8,801 99,271 7,658 106,929 9. TAXATION The Gatton Trust Limited, as a registered charity, is exempt from taxation on capital gains and income arising and expended on tts charitable artivities. 21
THE GAThON TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 {contlnuedl 10. TANGIBLE FIXED ASSETS Plant and Ma¢hinery Motor vehicle5 Total COST At I September 2022 Additions Disposals At 31 August 2023 4,347 7,714 1,071 12,061 1,071 4,347 8,785 13,132 ACCUMULATED DEPRECIATION At I September 2022 Charge for year Disposals At 31 August 2023 4,347 5,107 3,143 9,454 3,143 4,347 12,597 NET BOOK VALUE At 31 Au8USt 2022 At 31 August 2023 2.607 535 2.607 535 11. DEBTORS 2023 2022 Trade debtors Accrued income and prepayments 4,542 733 5,275 4,346 964 5,310 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Amounts owed to group undertakings Accruals and deferred income 636 7,752 1,788 10,176 815 19,585 3,807 24,207 Amounts owed to the charitable Cof poration. Royal Alexandra and Albert School, are unsecufed, interest-free and payable upon demand. 22
THE GArroN TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 {contlnued) 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Current year Unrestrirted funds Restricted funds Total funds 2023 Fixed assets Current assets Current liabilities Net a55ets 535 170,709 110,1761 161,068 535 187,936 110,1761 178,295 17,227 17,227 Comparatlve year Unrestrirted funds Restrirted funds Total funds 2022 Fixed assets Current asset5 Current liabilities Net a55etS 114 149,811 124,2071 125,718 2,493 33,655 2,607 183,466 124.2071 161,866 36,148 14. STATEMENT OF FUNOS At I Sept 2022 Fund Transfers At31 Aug 2023 Current year Income Expendlture Unrestricted funds-. General funds Designated funds 70,718 140,324 1106,3891 135,OCQI 69,653 55,000 1,415 35,OLKJ 91,415 Restricted funds 36,148 161,866 7,000 148,738 125,9211 1132,3101 17,227 178,295 At I Sept 2021 Fund Transfers At31 Aug 2022 Comparatlve year Income Expenditure Unrestricted funds.. General funds Designated funds 102,068 121,778 183,1281 115,0001 18,8011 1106,9291 170,0(xII 70,OCK) 70,718 55,0(Xl Restricted funds 25,309 127,377 19,640 141,418 36,148 161,866 23
THE GArroN TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 (continued) 15. DESIGNATED FUNDS Current year At I Sept 2022 Fund Transfets At 31 Aug 2023 Income Expenditure Parkland fund5 Footpaths in Rock Garden Japanese Garden Old World Garden Glasshouse Restoration Wood Chipper 15,000 5,000 5.000 30,000 3,LK)O 18,0 5,000 5,CilO 50,000 1,415 79,415 20,CQO 1,415 1.415 55,000 23,OCK) Education funds Volunteer Coordinator 12,OC() 12,0(X) 12,OCK) 12,000 Total Designated Funds 55,000 1,415 35,0 91,415 Comparative year At I Sept 2021 Fund Transfers At 31 Aug 2022 Income Expenditure Parkland funds Pulhamite Pond Footpaths in Rock Garden Japanese Garden Old World Garden Glasshouse Restoration 115.C(JOI 1s,0(x) Is,o(x) 5,CKJO 5,000 30,0(X) 70,000 15,000 5,000 5.000 30,0 55,0(X) I15,0> Total Designated Fund5 115,0(xJl 70,0(YJ 55,000 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 15 dependent on a number of factors including 5easonol considerations and availability of specialist assistance. 24
THE GAThON TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 (continued) 16. RESTRICTED FUNDS Current year At Isept 2022 Fund Transfers At 31 Aug 2023 Income Expendlture Jolnt funds New Golf Buggy Gatton Country Fair 2,493 12,4931 12001 12,6931 200 2,493 200 Parkland funds Trees For The Future Dementia Adventure Japanese Garden PlantinB Glasshouse Restoration 7,5CIJ 2,400 3,000 3,300 110,5001 13,5861 15001 2,114 500 500 6,800 114,5861 2,614 Education funds General Education Reserves Forest School For All Volunteer Coordinator 14,613 14,613 415 8,227 23,255 14151 18,2271 18.6421 14,613 Total Restricted Funds 36,148 7,000 125,9211 17,227 Restricted Funds comprise funds donated for the specific use of the proiects noted above. Any amount5 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 a5 per their original purpose. Comparative year At I Sept 2021 Fund Transfers At 31 Aug 2022 Income Expenditure Jolnt funds Orchard Project New Golf 8uggy Gatton Country Fair 68 1681 12,6071 13001 12,9751 5,100 300 5,400 2,493 68 2,493 25
THE GATTON TRUST LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 (continued) 16. RESTRicfED FUNDS (continued) Parkland funds Japanese Garden Trees For The Future japanese Garden Path Dementia Adventure Japanese Garden Planting 118 7,QK)O 11181 500 840 2,400 500 4.240 7,500 18401 2.400 500 10,400 7,118 19581 Education fund5 General education 14,613 14,613 reserves Forest School For All London School Project Volunteer Coordinator 2,010 1,500 11,5951 11,5001 11,7731 14,8681 415 10,000 10,000 8,227 23,255 18,123 Total Restricted Funds 25,309 19,640 18,8011 36,148 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 a5 at 31 August 2023. Royal Alexandra and Albert School is a charity registered in the United Kingdom Iregistered charity number 3119451 whose principal address is Gatton Park, Reigate, Surrey, RH2 OTW and its consolidated financial statements can be obtained from thi5 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 5thool. 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 consetvation 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 2023 2022 Purchases from related partSes.' Gatton Community Theatre 2,438 801 26