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2022-03-31-accounts

Registered number: 04797256 Charity number: 1112908

WINTERBOURNE MEDIEVAL BARN TRUST (A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

WINTERBOURNE MEDIEVAL BARN TRUST

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

Contents Pages
Chair’s Statement 1
Trustees’ Annual Report 2 - 7
Reference and Administrative Information 8 - 9
Independent Examiner’s Report 10
Statement of Financial Activities 11
Balance sheet 12
Notes to the financial statements 13 - 22

WINTERBOURNE MEDIEVAL BARN TRUST

CHAIR’S STATEMENT

YEAR ENDED 31 MARCH 2022

Dear Friends

This year marked the formal end of the National Lottery Heritage Fund (NLHF) project, which began around 10 years ago when we first started considering making a lottery bid to restore the Barn site. I am pleased to report we received a very favourable report from the NLHF in their Evaluation of the project, including that it strongly delivered against all the stated aims.

Our wonderful Barn site is a testament to the work of very many volunteers and trustees over this period. We have also had invaluable support from our staff in delivering events, developing the commercial hire side of the Trust and maintaining the buildings to a high standard.

This year has again been impacted by Covid 19. The various restrictions particularly during the earlier part of the year meant that some activities including the Medieval Fayre could not take place and others were severely limited. With the easing and then removal of restrictions many of our events and workshops could again take place including a very successful Orchard Harvest Day. The Barn is very much becoming the Rural Craft and Heritage Centre we envisaged.

The pandemic has also continued to impact on interest in commercial hire of the site for events, which are an essential element of our Business Plan. We had several weddings in 2022 and are hopeful that once these have demonstrated how wonderful the venue is, we will attract more weddings and other celebratory events.

As we contemplate an exciting future for the Trust, we recognise that we need to ensure appropriate governance with the right mix of skills and experience among our Trustees, as activities and circumstances change. We would love to hear from anyone who believes that they can complement our existing Board and bring new skills.

As noted in last year’s report, Linda Hall resigned as a trustee during the year. Derek Andow, Tim Bowles and George Kousouros retire by rotation this year and are happy to stand for re-election.

We are looking forward to an exciting future which will be built on the firm foundations developed since the formation of the Trust. Everyone who has been involved should be proud of what has been achieved.

Sue Parsons Chair

Date: 4th August 2022

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WINTERBOURNE MEDIEVAL BARN TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

The trustees present their annual report together with the financial statements of the charity for the year 1 April 2021 to 31 March 2022. The trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

OBJECTIVES AND ACTIVITIES

a. Policies and objectives

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The Trust operates the site of the Winterbourne Court Farm Barn under a 25 year lease from South Gloucestershire Council (SGC) which commenced in September 2020. SGC has agreed to waive the rent payable of £37,730 per annum under the lease on condition of the Trust meeting various obligations with regards to the operation and maintenance of the site.

The objects of the Trust (which were amended by special resolution at last year’s AGM) are:

(1) To promote and undertake the conservation, management, maintenance and improvement of the site at Winterbourne Court Farm Barn to ensure that it is protected, celebrated and used as a unique historical asset for the public benefit of serving the local community and improving community cohesion now and for the future by such exclusively charitable means as the trustees shall from time to time determine; and

(2) To advance public education by increasing the local community’s knowledge and understanding of the history and medieval architecture of Winterbourne Court Farm Barn, and its surrounding landscape by the provision of guided tours, exhibitions, talks and such other activities as the trustees shall from time to time determine.

The trustees have reviewed and assessed the achievements of the Trust in terms of key activities and benefits and have taken the objects into account when planning future activities.

b. Activities for achieving objectives

The Trust’s main objectives continue to be preservation of the unique 14th century Barn and promotion of knowledge of the history of its architecture, agricultural landscape and people through creation of a renowned centre which will provide for future generations:

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WINTERBOURNE MEDIEVAL BARN TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

c. Volunteers

The Trust has two paid members of staff who are assisted by volunteers which over the year comprised 76 individuals. This assistance incorporated maintaining the site, planning, publicising, managing and hosting events and activities, cultivating the vegetable garden and general management.

ACHIEVEMENTS AND PERFORMANCE

a. Review of activities

Covid has continued to have an impact particularly during the early part of the year, but the Trust organised an adapted events and an activities programme during the year, as and when Covid 19 restrictions allowed. Despite these restrictions our various events attracted over 4,000 people over the year.

Over 200 people visited the Barn in September 2021 during the Heritage Open Days weekend. The Annual Orchard Harvest Day attracted over 900 visitors in October 2021 and the maximum number of 300 tickets for Carols in the Barn sold out almost immediately they were advertised in early December.

Apple Grafting and Fused Glass craft workshops proved very popular during the last 12 months and a weekly Tai Chi class has almost doubled in participant numbers. Many of the Tai Chi attendees reporting that their mental wellbeing has improved as a result of coming together regularly to exercise and socialise after two years of near isolation.

280 families took part in Family Craft days. These included (when families could only be entertained in the grounds) Woodland Wonderland, Safari Time and Carnival. Fun in the main Barn included Spooky Halloween, Christmas and Easter crafts.

A variety of talks on various subjects have been delivered to audiences who had a choice of attending in person or online through Zoom. It is planned to continue to offer this hybrid delivery,

Music and drama made a welcome return to the Barn culminating in March 2022 when Green Matthews’ performance of Canterbury Tales was enjoyed by a maximum audience of 140.

History of the Barn talks and tours were held monthly.

The Barn has also been used as a film location and we anticipate increased hire opportunities.

All the above events and activities were supported by our staff and numerous volunteers who also maintain the site and cultivate the vegetable garden.

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WINTERBOURNE MEDIEVAL BARN TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

a. Income and Expenditure

The statement of financial activities for the Trust shows a surplus for the year of £46,344 (2021: deficit £5,334).

b. Balance sheet

The balance sheet as at 31 March 2022 shows net assets of £114,892 (2021: £68,548)

c. Reserve funds policy

The disclosure in the accounts analyses reserves between unrestricted funds, which are available for the main objects of the Trust, and restricted funds, which are only available for the purposes set down by the donor or under some other obligation. The trustees have examined the requirements for reserves considering the main risks to the Trust.

One of the obligations under the lease with SGC is for the Trust to apply a reasonable proportion of any surplus in each financial year into a sinking fund to provide for the expected cost of future major structural work to the site such that a minimum of £50,000 is established and maintained. The trustees consider a reasonable proportion for the year to be £10,000 and this amount was transferred from general funds into a designated Site sinking fund in the year.

The trustees consider that additional unrestricted funds should be designated to the building repair reserve as a contingency against future repair and maintenance costs of the site. £20,000 was transferred from general funds to the Building Repair Reserve in the year.

The trustees consider that at least three months fixed operating costs (estimated to be £16,000) should be the minimum amount maintained by the Trust in unrestricted, undesignated funds not committed or invested in fixed assets (the free cash reserves). As at 31 March 2022 free cash reserves held by the charity amounted to £32,693 (2021: £30,843).

Current free cash reserves are greater than the minimum because of sound financial management in the past and to provide an additional financial buffer whilst the Trust moves towards financial sustainability.

STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The charity is constituted under a Memorandum of Association dated 12 June 2003 (company limited by guarantee) and is a registered charity number 1112908.

b. Method of appointment or election of trustees

The management of the charity is the responsibility of the trustees who are elected under the terms of the Articles of Association.

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WINTERBOURNE MEDIEVAL BARN TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

Under the requirements of the Articles of Association the number of trustees shall be not less than three but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum.

At each Annual General Meeting one third of the trustees shall retire. The trustees to retire first shall be those who have been longest in office since their last appointment. Those trustees who are retiring are eligible to seek re-election.

Members are encouraged to volunteer for a range of tasks including that of trustees; membership is open to all on payment of a modest subscription. Potential trustees are interviewed by a small panel of trustees before making a recommendation for appointment by the full trustee board. In the event of identified skills needed, the Trust will approach an appropriate agency such as CVS South Gloucestershire, VOSCUR or REACH in the quest to fill that skills gap, and a similar process is adopted before appointment.

c. Policies adopted for the induction and training of trustees

The board of trustees strives to ensure that the trustees are informed and educated on their role and responsibilities as a charity trustee and director.

d. Organisational structure and decision making

The board of trustees meets on a regular basis and is responsible for setting the strategic direction and policy of the charity. The day to day administration of the trust is delegated to the members of the Finance Committee and General Purposes Committee. The Finance Committee is chaired by the Treasurer and the General Purposes Committee by the Vice Chair of Trustees. The Chair is an ex-officio member of both committees. In addition to these committees there is an Events and Publicity committee.

e. Risk management

The trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to manage our exposure to the major risks.

f. Impact of COVID 19

Along with most hospitality organisations our operations and plans continued to be impacted by Covid 19 for a large part of the year.

Our Business Plan prepared in 2017 was based on 2021/22 being an established year both as a Rural Craft and Heritage Centre, and with regard to our commercial hires (including weddings). The enforced closure and slow uptake in interest in hiring the barn, particularly for weddings have delayed this. Whilst we have several weddings in 2022 our bookings for 2023 are at this stage not promising.

Whilst the Medieval Fayre could not take place our other signature event, Orchard Harvest Day was a great success. We were also able to run many of our plays and music events. We have continued to hold some events in a hybrid fashion catering for those who could attend in person and those who couldn’t.

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WINTERBOURNE MEDIEVAL BARN TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

All the Byre units remained fully let. This together with our successful events programme and the continued support from SGC via its Revenue Grant and Covid Support grants meant that financially we ended 2021/22 in a better financial position than we could have expected.

PLANS FOR FUTURE PERIODS

a. Future developments

Since the physical refurbishment was completed in March 2020 and despite Covid, we have successfully established our operational infrastructure to run the site as a Rural, Craft and Heritage Centre. We have also been successful in bring back a full range of events and workshops.

Our focus going forward is to ensure that we can significantly increase our commercial hires, particularly weddings in the Main Barn, as this generates the income to support the general operation of the site.

We remain confident that we will have a successful future ahead of us and that Winterbourne Medieval Barn will continue to be a valued community asset.

MEMBERS' LIABILITY

The Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up.

Statement of trustees’ responsibilities

The trustees (who are also directors of Winterbourne Medieval Barn Trust for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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WINTERBOURNE MEDIEVAL BARN TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

The trustees are responsible for keeping adequate accounting records that 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.

Signed by order of the Trustees on 4[th] August 2022

Sue Parsons Chair

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WINTERBOURNE MEDIEVAL BARN TRUST

REFERENCE & ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2022

Status

The Charity is governed by its Articles of Association. It was incorporated as a company limited by guarantee, number 04797256, on 12 June 2003 and was registered with the Charity Commission in England & Wales, number 1112908 on 2 February 2006.

Trustees

The Trustees who are directors for the purpose of company law and who served during the year are:

Sue Parsons, Chair Derek Andow, Vice Chair Andy Peters, Treasurer Paul Appleby MBE Tim Bowles Sue Fox Linda Hall (resigned 12 August 2021) George Kousouros Nicholas Labuschagne

Registered Office Winterbourne Court Farm Barn Church Lane Winterbourne BS36 1SE Patron Tracy Worcester (The Marchioness of Worcester) Company secretary Rosina Pullman President Baroness Corston Vice-Presidents The Bishop of Bristol Peter Clark Professor Mark Horton Jack Lopresti MP Alderman Bill Martin (ceased 31 March 2022) Kathleen Marsh Karen Morgan OBE DL Dr Lee Prosser Professor Phyllida Parsloe (dec’d 1 September 2021) Hilary Severn Peter Warren Terry Webber FCA (ceased 10 April 2022)

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WINTERBOURNE MEDIEVAL BARN TRUST

REFERENCE & ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2022

Independent Examiner Joshua Kingston BSc., ACA Burton Sweet Limited, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR Bankers CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ

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WINTERBOURNE MEDIEVAL BARN TRUST

INDEPENDENT EXAMINER’S REPORT

YEAR ENDED 31 MARCH 2022

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston BSc., ACA Burton Sweet Limited, Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: 4[th] August 2022

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WINTERBOURNE MEDIEVAL BARN TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 MARCH 2022

Note
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net income/(expenditure)
8
Transfers between funds
17
Net movement in funds
Total funds at start of year
17
Total funds at end of year
17		 Unrestricted
Funds
£
72,678
57,461
235		 Restricted
Funds
£
6,888
-
-		 Total Funds
2022
£
79,566
57,461
235		 Total Funds
2021
£
81,467
18,688
1,297
130,374 6,888 137,262 101,452
90,918 - 90,918 106,786
90,918 - 90,918 106,786
39,456
-		 6,888
-		 46,344
-		 (5,334)
-
39,456
68,548		 6,888
-		 46,344
68,548		 (5,334)
73,882
108,004 6,888 114,892 68,548

The Charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

See note 11 for fund-accounting comparative figures The notes on pages 13 to 22 form part of these financial statements

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WINTERBOURNE MEDIEVAL BARN TRUST

BALANCE SHEET

AS AT 31 MARCH 2022
AS AT 31 MARCH 2022 Company number: 04797256
Note
Fixed assets
Tangible assets
12
Intangible fixed assets
13
Heritage assets
14
Current assets
Debtors
15
Cash at bank and in hand
Liabilities
Creditors : amounts falling
due within one year
16
Net current assets
Total assets less current liabilities
Net assets
FUNDS
Unrestricted funds
General funds
18
Designated funds
18
Restricted funds
18
Total funds		 2022
£
16,711
-
3,600
20,311
9,152
98,058
107,210
(12,629)
94,581
114,892
114,892
53,004
55,000
6,888
114,892		 2021
£
9,105
-
3,600
12,705
3,847
63,031
66,878
(11,035)
55,843
68,548
68,548
43,548
25,000
-
68,548

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act applicable to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

These financial statements were approved by the Trustees on 4th August 2022 and are signed on their behalf by:

Sue Parsons, Chair

The notes on pages 13 to 22 form part of these financial statements

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WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies

Accounting convention

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The charity is a public benefit entity as defined under FRS102. The Trustees have considered the implications of the COVID-19 pandemic in assessing the charity's ability to continue as a going concern. Please see the Trustees' Report for further details. Having considered this and all other factors the Trustees are consider that the charity is able to continue as a going concern.

Income

Income from donations is included in income when these are receivable, except as follows:

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;

II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Legacies are included on a receivable basis where charity is entitled to the income, it can be measured reliably and receipt is probable. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is not included in income but is treated as a contingent asset and disclosed if material.

Investment income is included on a receivable basis.

Donations in kind comprise donated services where the costs are measurable and the services would otherwise have to be paid for to maintain operational effectiveness.

Expenditure

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.

Raising funds

Raising funds expenditure include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale.

Charitable Activities

Grants awarded are allocated to charitable activities.

Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding.

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WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies (continued)

Governance costs

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.

Allocation and apportionment costs

Certain expenditure is directly attributable to specific activities and this has been included in those cost categories. Other costs, which are attributable to more than one category, are apportioned across cost categories on the basis of an assessment of workload carried out from time to time.

Overhead support costs have been allocated between fundraising and publicity costs, fundraising trading and charitable activities. The apportionment has been allocated on the basis of usage and is analysed in

Intangible fixed assets

Website development has been capitalised to the extent that it is probable that future economic benefits attributable to the website are likely which will benefit to the Trust. The asset is being amortised over its estimated useful life of 3 years.

Tangible fixed assets

Fixed assets are held at cost less accumulated depreciation. Assets costing less than £250 are not capitalised. Depreciation is calculated so as to write off the cost of an asset, less its estimated ultimate residual value, over the useful life of that asset as follows:

Heritage assets

Heritage assets are held at cost at the time of acquisition. The asset balance represents the historic cost of a cider mill purchased by the Trust in 2014. The cider mill has not been depreciated due to its long economic life and high residual value, meaning any depreciation charged would not be material. One of the Trust's objectives is conservation and therefore it is the responsibility of the trustees to ensure that the condition of the charity's heritage assets does not deteriorate over time.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 Accounting policies (continued)

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.

Further explanation of the nature and purpose of each fund is included in note 17 of the financial statements.

2 Income from: Donations and legacies

Current year
Donations
Grants received
Gifts in kind - donated assets, services and facilities		 Unrestricted
Funds
£
1,945
66,080
4,653		 Restricted
Funds
£
-
6,888
-		 Total Funds
2022
£
1,945
72,968
4,653
72,678 6,888 79,566
Prior year
Donations
Refunded tax
Grants received
Gifts in kind - donated assets, services and facilities		 Unrestricted
Funds
£
2,738
225
58,986
19,518		 Restricted
Funds
£
-
-
-		 Total Funds
2021
£
2,738
225
58,986
19,518
81,467 - 81,467

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WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

3 Income from: Charitable activities

Rental and property hire income
Community events
Membership fees		 Unrestricted
Funds
£
25,767
30,924
770		 Restricted
Funds
£
-
-
-		 Total Funds
2022
£
25,767
30,924
770		 Total Funds
2021
£
13,463
4,385
840
57,461 - 57,461 18,688

In the prior year, all income was for unrestricted purposes.

4 Income from: Other trading activities

Equipment hire Unrestricted
Funds
£
235		 Restricted
Funds
£
-		 Total Funds
2022
£
235		 Total Funds
2021
£
1,297
235 - 235 1,297

In the prior year, all income was for unrestricted purposes.

5 Expenditure on: Charitable activities

Core activity
Events
Prior year
Core activity
Events		 Direct
Costs
£
56,245
18,987		 Support
Costs
(Note 6)
£
15,686
-		 Total Funds
2022
£
71,931
18,987
75,232 15,686 90,918
Direct
Costs
£
91,337
4,432		 Support
Costs
(Note 6)
£
11,017
-		 Total Funds
2021
£
102,354
4,432
95,769 11,017 106,786

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

6 Support costs

Support costs, included in notes 5, are as follows:

Support costs, included in notes 5, are as follows:
and
publicity
£
Depreciation
6,262
Administration
7,349
Governance costs (Note 7)
2,075
15,686		 Total
2022
£
6,262
7,349
2,075		 Total
2021
£
4,520
4,607
1,890
15,686 11,017

7 Governance costs

Independent examiner's fees Unrestricted
Funds
£
2,075		 Restricted
Funds
£
-		 Total Funds
2022
£
2,075		 Total Funds
2021
£
1,890
2,075 - 2,075 1,890

In the prior year, all expenditure was for unrestricted purposes.

8 Net income/(expenditure) for the year

This is stated after charging:

Independent Examiner's remuneration
- Independent examination
Trustees' travel, meeting and training expenses
Depreciation
Amortisation of intangible fixed assets		 2022
£
2,075
-
6,262
-		 2021
£
1,890
94
3,810
710

No Trustee has been reimbursed for their out of pocket travel expenses (2021: 1). No Trustee received any remuneration during the year.

Aggregate donations received from Trustees, key management personnel, and other related parties was £45 (2021: £130).

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NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

9 Staff costs and numbers

The aggregate payroll costs were:

Wages & salaries
Social security costs
Employer's pension contributions		 2022
£
30,368
-
532		 2021
£
27,741
-
350
30,900 28,091

No employee received emoluments of more than £60,000.

The total employment benefits received by key management personnel including employer national insurance were £14,730 (2021: £17,441).

10 Taxation

The charity is exempt from corporation tax on its charitable activities.

11 Statement of Financial Activities comparative figures

For the year ended 31 March 2021
Income from:
Donations and legacies
Charitable activities
Other trading activities
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
Net movement in funds
Total funds at start of year
Total funds at end of year		 Unrestricted
Funds
£
81,467
840
19,145		 Restricted
Funds
£
-
-
-		 Total Funds
2021
£
81,467
840
19,145
101,452 - 101,452
68,413 38,373 106,786
68,413 38,373 106,786
33,039
(13,875)		 (38,373)
13,875		 (5,334)
-
19,164
49,384		 (24,498)
24,498		 (5,334)
73,882
68,548 - 68,548

18

WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

12 Tangible fixed assets

Cost or valuation
At 1 April 2021
Additions
Disposals
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Eliminated on disposal
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Computer
equipment
£
838
-
-		 Equipment
£
19,456
14,670
(2,371)		 Other Fixed
Assets
£
1,654
-
-		 Total
£
21,948
14,670
(2,371)
838 31,755 1,654 34,247
280
277
-		 11,912
5,734
(1,569)		 651
251
-		 12,843
6,262
(1,569)
557 16,077 902 17,536
281 15,678 752 16,711
558 7,544 1,003 9,105

13 Intangible fixed assets

Cost or valuation
At 1 April 2021 and 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Website
development
£
2,275		 Total
£
2,275
2,275
-		 2,275
-
2,275 2,275
- -
- -

19

WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

14 Heritage assets

Cost
At 1 April 2021 and 31 March 2022		 2022
£
3,600		 2021
£
3,600

There have been no purchases or disposals of Heritage assets in the last 5 years.

15 Debtors

Trade debtors
Prepayments and accrued income
Tax reclaimable under gift aid
Other debtors		 2022
£
252
4,826
82
3,992		 2021
£
-
3,597
225
25
9,152 3,847

16 Creditors: amounts falling due within one year

Other creditors
Accruals and deferred income		 2022
£
5,952
6,677		 2021
£
8,598
2,437
12,629 11,035

20

WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

17 Movement in funds

For the year ended 31 March 2022

Restricted funds
NLHF
Unrestricted funds
Designated funds
Buildings repair reserve
Site sinking fund
General funds
Total funds		 At 1 April
2021
£
-		 Income
£
6,888		 Expenditure
£
-		 Transfers
£
-		 At 31 March
2022
£
6,888
- 6,888 - - 6,888
25,000
-
43,548		 -
-
130,374		 -
-
(90,918)		 20,000
10,000
(30,000)		 45,000
10,000
53,004
68,548 130,374 (90,918) - 108,004
68,548 137,262 (90,918) - 114,892

Restricted funds

National Lottery Heritage Fund (NLHF) - This represents the elements of the final funds received from the NLHF to complete the activities aspects of the refurbishment.

Matched funding - The trust was committed to seek to raise matched funding as a condition of the grants from NLHF and SGC. Such funds were held by the Trust and have now been passed over to SGC who have now completed the building work.

Designated funds

Buildings Repair Reserve - The trustees have agreed to set aside regular sums as contingency for repairs and maintenance of the barn and site now that it is being used.

Site sinking fund - Under the lease with SGC, the Trust is obliged to have a sinking fund to provide for the expected cost of future major structural work to the site.

Matched funding pledge - In the application to NLHF for the delivery funding the Trust pledged to provide £3,000 from its general funds. Subsequently the Trust pledged additional amount from its general reserves towards the delivery funding. Now the building is complete the remaining designated funds have been transferred to the Matched funding restricted fund to cover the remaining expenditure.

Further explanation of the nature and purpose of each fund is included in reserve funds policy section of the Trustees Annual Report on page 4.

21

WINTERBOURNE MEDIEVAL BARN TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

17 Movement in funds (continued)

For the year ended 31 March 2021
At 1 April
2020
£
Restricted funds
Matched funding
24,498
24,498
Unrestricted funds
Designated funds
Buildings Repair Reserve
-
Matched funding pledge
13,875
General funds
35,509
49,384
Total funds
73,882		 For the year ended 31 March 2021
At 1 April
2020
£
Restricted funds
Matched funding
24,498
24,498
Unrestricted funds
Designated funds
Buildings Repair Reserve
-
Matched funding pledge
13,875
General funds
35,509
49,384
Total funds
73,882		 Income
£
-		 Expenditure
£
(38,373)		 Transfers
£
13,875		 At 31 March
2021
£
-
24,498 - (38,373) 13,875 -
-
13,875
35,509		 -
-
101,452		 -
-
(68,413)		 25,000
(13,875)
(25,000)		 25,000
-
43,548
49,384 101,452 (68,413) (13,875) 68,548
73,882 101,452 (106,786) - 68,548

18 Analysis of net assets between funds

As at 31 March 2022
Tangible fixed assets
Heritage assets
Other net assets
As at 31 March 2021
Tangible fixed assets
Heritage assets
Other net assets		 Unrestricted
Unrestricted
Restricted
Designated
General
Total
Funds
Funds
Funds
£
£
£
£
-
-
16,711
16,711
-
-
3,600
3,600
6,888
55,000
32,693
94,581
6,888
55,000
53,004
114,892
Unrestricted
Unrestricted
Restricted
Designated
General
Total
Funds
Funds
Funds
£
£
£
£
-
-
9,105
9,105
-
3,600
3,600
-
25,000
30,843
55,843
-
25,000
43,548
68,548

19 Related party transactions

There are no transactions with trustees or other related parties other than those disclosed elsewhere in the financial statements.

22