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2022-03-31-accounts

Company no. 06272084 Charity no. 1120210

Arnos Vale Cemetery Trust Report and Unaudited Financial Statements

31 March 2022

Arnos Vale Cemetery Trust

Contents

For the year ended 31 March 2022
Page
Reference and administrative details 1
Trustees' report 2 - 9
Independent examiner's report 10 - 11
Consolidated statement of financial activities 12
Consolidated balance sheet 13 - 14
Consolidated statement of cash flows 15
Notes to the financial statements 16 - 32

Arnos Vale Cemetery Trust

Reference and administrative details

For theyear ended 31 March 2022 For theyear ended 31 March 2022
Company number 06272084
Charity number 1120210
Registered office and West Lodge Arnos Vale Cemetery
operational address Bath Road
Bristol
BS4 3EW
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Dr Charles Booth
Jos Clark
Paul Davis
Nigel Dyke (Chair)
Daniel Flew
Matt Kyle
Rupert Mullins TD
Lynn Robinson
Lindsay Telling
Company secretary Rupert Mullins TD (resigned 8 June 2021)
Chief executive officer Ellie Collier
Bankers Lloyds Bank Plc
248 Wells Road
Knowle
Bristol
BS4 2PY
CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Independent Godfrey Wilson Limited
examiners Chartered Accountants and Statutory Auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

The Trustees, who are also the Directors under company law, present their annual report and financial statements for the year ended 31 March 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities.

The Trust and group structure

Development of the Trust

Arnos Vale Cemetery is a spectacular 45-acre Victorian Garden Cemetery in the heart of Bristol. Arnos Vale Cemetery Trust (AVCT or the Trust) started out as an unincorporated Trust in 2001, following a campaign to save the cemetery from redevelopment for housing use. The net assets of that original trust were transferred to the Trust on 1 October 2007.

The Cemetery was compulsorily purchased by Bristol City Council (BCC) on 31 October 2002 and was managed by the Trust under a licence to occupy until 30 May 2012, at which date a 125-year lease of the site, with a peppercorn rent, was granted to the Trust by BCC.

The Trust is the beneficiary of two endowment funds. The first was created by BCC in three tranches totalling £1,500,000. The second Catalyst fund was created by the Trust and the National Heritage Lottery Fund. These two funds are held and managed by Quartet Community Foundation. The Trust is permitted to draw on the revenue and capital accounts for the purpose of maintaining and developing the cemetery. Capital cannot initially be drawn down on the Catalyst fund until 2041.

Today, Arnos Vale Cemetery Trust is incorporated as a company limited by guarantee and a registered charity.

The site continues to be a unique heritage site and beloved Bristol Landmark. At heart remains the Victorian scenic estate for recreation and respectful remembrance of those who have died. The Trust continues to offer a range of cemetery services, including more recently woodland burials and has reestablished itself as a serene final resting place, and a welcoming location for those who have died.

The estate provides a wonderful space in the heart of Bristol for the local community and is home to diverse wildlife within historic woodlands. The site is managed as a Site of Nature Conservation Interest (SNCI). We have created a bespoke landscape management plan to ensure conservation of the existing grassland and woodland habitats thereby improving their quality to benefit wildlife. Our conservation work is underpinned by a strong community of volunteers, and corporate volunteers, who are key to the maintenance and development of the site.

The Trust continues to evolve and includes a unique indoor/outdoor venue for weddings and events and provides family experiences including nature trails and forest schools. It provides educational opportunities for all age ranges from pre-school to University of the Third Age. It seeks to engage the public through exhibitions, tours and talks, and community projects. A welcoming café and shop also supported by volunteers, make up part of the Estate.

2

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

Objects of the Trust

The objects and core business of the Trust are:

Structure, governance and management

Arnos Vale Cemetery Trust (AVCT or the Trust) was incorporated as a company limited by guarantee on 7 June 2007 and was registered as a charity on 24 July 2007. The governing document of the Trust are its Articles of Association. This document was most recently revised in October 2020. AVCT also has a 100% subsidiary, Arnos Vale Cemetery Enterprises Limited, whose Directors are also Directors of the Trust.

The Trust is administered by a Board of Directors who meet quarterly. They are responsible for setting the strategy of the Trust, scrutinising and monitoring its operations in pursuit of that strategy, safeguarding its assets, and values, and supporting its work.

The day-to-day operation and management of the Trust is delegated to its staff, led by its Chief Executive, who in turn appoints, through the management team, the Trust’s staff.

There are also sub-committees formed to deal with specific remits to report to the Board on a variety of issues. The Finance Committee deals with matters of governance, particularly in relation to probity and financial health of the Trust.

Full details of the Trustees who served in the year are provided within the Reference and Administrative Information pages at the beginning of these accounts.

The Trustees continued to meet regularly during 2021/22 but by virtual meetings due to Covid restrictions.

Election, recruitment and training of Trustees

New Trustees are identified and appointed by existing Trustees to meet skills gaps on the Board of Trustees. All such new Trustees retire at the next following General Meeting but are eligible to put themselves forward for election by the members at that meeting for a term of three years.

3

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

The Articles of Association sets out that the minimum number of Trustees is three. The maximum number of Trustees is fifteen without an Ordinary Resolution of Members.

Trustees’ terms of office are governed by the Articles of Association, which state, that each Trustee who has served for three years must be re-elected by Members but that no Trustee may be elected for more than three consecutive terms of three years. There were no movements in Trustees during the current year.

All Trustees are issued with a copy of the Charity Commission booklet “The Essential Trustee” as part of their induction programme, which provides them with guidance on the assessment and management of risks and advises them of their responsibility to identify and monitor them. There is a regular skills audit of Trustees to ensure that training needs are met.

Arnos Vale Cemetery Enterprises

The wholly owned trading subsidiary, Arnos Vale Cemetery Enterprises Limited (AVCE) was incorporated on 14 July 2010 to develop commercial offerings taking advantage of the cemetery’s unique location and history, in a manner consistent with both.

All the subsidiary’s net taxable income generated is transferred to the charity annually. Directors of the trading subsidiary who are also Trustees of the charity draw no salary or dividend from either company.

Remuneration of key management personnel

The Trust’s policy on remuneration of key management personnel aims to ensure that such remuneration is benchmarked against charitable bodies in the Bristol area so that it is competitive. Remuneration levels for all employees are reviewed at least annually by the Chair, in conjunction with the Chief Executive, and are formally approved by the Board of Trustees.

Related parties and co-operation with other organisations

None of the Trustees receive remuneration or benefit from their work with the charity. Any connection between a Director or senior manager of the charity with organisations with which the Trust engages must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a third party. In the current year no such related party transactions were reported.

Public benefit

The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit, ‘Charities and Public Benefit’. The Trustees are mindful of this guidance in setting the objectives for the Trust. The key objectives were published during the year in a new strategic business plan covering 2021-24.

Values of the Trust

The Trust has a very clear set of core values, which underpins all that we do. These values are interwoven into our approach, from interview questions to business planning, and we look for value based behaviours in everyone who works with us. The core values are:

4

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

Business plan 2021-2024

The strategy identifies the following mission for the Trust:

That the Cemetery must evolve and stay relevant for all of Bristol’s communities to enhance this special place for all.

The key strategic aims within the strategy relate to:

Achievements and performance

Progress against the strategy (2021-2024)

It is difficult to review this financial year without giving significant focus to the global pandemic that has once again dominated it. The situation throughout the year was an evolving one, requiring us to remain collectively flexible, creative, and resilient in the face of emerging new challenges. Changing rules and periods of fresh restrictions created uncertainty and further periods of adjustment as the year progressed.

The site in the heart of Bristol continued to attract high visitor numbers enjoying the relative freedom of accessible outdoor space, for both exercise and reflection. Opening the site for events was challenging, impacted by ever-changing rules governing weddings and funerals, as well as the ability to open the café and shop facilities. The focus throughout has very much had health and safety of our visitors, volunteers and staff at it's core.

As with every other aspect of the way we work, Covid saw us adapt our approach to our people. Policies evolved to support the management of Covid across the site, and full periods of pay were continued for self-isolation and Covid related illness. Our office based staff worked a mixture of home working and site working and staying connected was a critical aspect of our Covid response as people balanced work and family commitments. Continued development of our IT provision was key to this connectivity.

We would like to thank our supporters including the Friends of Arnos Vale, individuals, Trusts, Foundations and Government, who contributed throughout this period. In particular we received grants totalling £100,600 from the DCMS Cultural Recovery Fund for Heritage, which was vital in helping us through these uncertain times.

5

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

This period gave the organisation time to reflect on its core objects and prepare a new revised business plan based on those reflections. Despite the challenges the year offered, we were still able to make significant progress against this plan:

1. Conservation

2. Community engagement

3. Burial and bereavement services

6

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

4. Events

5. Financial sustainability

Financial review and results for the year

The surplus for the year from operating activities (net income from unrestricted funds before transfers) was £1,736 (2021: surplus £190,500). Due to the Covid restrictions, the Trust relied on a significant level of support primarily from the DCMS Cultural Recovery Fund for Heritage, totalling £100,600 during the year and is shown within restricted funds. This, along with other grants, enabled the Trust to meet a significant level of our operational and estate costs during the year, while our ability to generate income was limited by the pandemic. The previous financial year included additional Covid relief funding (£110,500 NLHF Covid funding and £136,100 of Cultural Recovery funding) which supported a higher surplus.

The overall deficit for the year, including restricted funds, was £12,841 (2021: surplus of £168,490). The deficit during the year on restricted funds (before transfers) of £14,577 (2021:£22,010) is caused by the timing of expenditure, with both costs covered by the resilience fund and path works funded by the Postcode Lottery falling into the current year, with funding received in the prior year.

Reserves and going concern

The Directors’ overarching reserves policy is to manage risk and investment in line with the Trust’s operational strategy. The most recent assessment of reserve levels is to hold approximately three months unrestricted expenditure. The Directors consider that in assessing the current level of reserves together with financial modelling and risk assessments, that the Trust is a going concern. Recognising the continued difficult financial climate in which the Trust operates, the Finance Committee will review the reserves policy and the risk profile on at least an annual basis.

At 31 March 2022 the liquid unrestricted funds (defined as current assets held in general funds were £287,687 (2021: £261,610), equivalent to just over five months expenditure. The Trust also has access to the Endowment funds managed by Quartet, which allow for some capital to be drawn on to meet unexpected costs.

7

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

Risk management

The Trustees’ risk management policy is to examine the major risks that the Trust faces each financial year and to ensure that there are measures in place to monitor and control these risks and to mitigate any impact that they may have in the future. We place a key emphasis on assurance, particularly external assurance to effectively manage risk. The key areas of strategic potential risk identified by the Trust are:

Statement of responsibilities of the Trustees

The Trustees (who are also Directors of the charity for the purposes of company law) are responsible for preparing the Trustees' 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 Generally 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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the Trustees are required to:

8

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2022

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on 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.

Members of the charity guarantee to contribute an amount not exceeding £5 to the assets of the charity in the event of winding up. The Trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were appointed as independent examiners to the group and parent charity during the year and have expressed their willingness to continue in that capacity.

Approved by the Trustees on 26 September 2022 and signed on their behalf by

Nigel Dyke Trustee

Rupert Mullins TD Trustee

9

Independent examiner's report

To the trustees of

Arnos Vale Cemetery Trust

I report to the trustees on my examination of the consolidated accounts of the group comprising of Arnos Vale Cemetery Trust ('the charity') and its subsidiary undertaking for the year ended 31 March 2022, which are set out on pages 12 to 32.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the consolidated accounts of the group in accordance with the requirements of the Charities Act 2011 ('the Act') and you have chosen to prepare consolidated accounts for the group. You are satisfied that the accounts of both the charity and the group are not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the consolidated 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.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the consolidated accounts present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.

Independent examiner’s statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

Godfrey Wilson Limited also provides ad hoc VAT support and consultancy services to the Trust. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

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

10

Independent examiner's report

To the trustees of

Arnos Vale Cemetery Trust

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.

Alison Godfrey

Date: 26 September 2022 Alison Godfrey FCA Member of the ICAEW For and on behalf of:

Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

11

Arnos Vale Cemetery Trust

Consolidated statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 March 2022

Restricted
Note
£
Income from:
Donations and legacies
3
152,342
Charitable activities
4
-
Other trading activities
5
-
Total income
152,342
Expenditure on:
Raising funds:
Voluntary income
-
Fundraising trading
-
Investment management
-
Charitable activities
166,919
Total expenditure
7
166,919
Net income / (expenditure)
(14,577)
Transfers between funds
(25,464)
Net movement in funds
8
(40,041)
Reconciliation of funds:
Total funds brought forward
69,088
Total funds carried forward
29,047		 Unrestricted
£
178,487
138,107
196,996
513,590
25,662
159,599
9,198
317,395
511,854
1,736
25,464
27,200
377,118
404,318		 2022
Total
£
330,829
138,107
196,996
665,932
25,662
159,599
9,198
484,314
678,773
(12,841)
-
(12,841)
446,206
433,365		 2021
Total
£
504,666
120,454
44,619
669,739
31,147
30,223
7,752
432,127
501,249
168,490
-
168,490
277,716
446,206

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 21 to the accounts.

12

Arnos Vale Cemetery Trust

Consolidated balance sheets

As at 31 March 2022

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Stock
15
Debtors
16
Cash at bank and in hand
Liabilities
17
Net current assets
Total assets less current liabilities
18
Net assets
20
Funds
21
Restricted funds
Unrestricted funds
Designated funds
General funds
Total funds
Creditors: amounts falling due within
1 year
Creditors: amounts falling due after
more than 1 year		 The group
2022
£
113,042
-
113,042
9,235
41,996
366,822
418,053
(82,323)
335,730
448,772
(15,407)
433,365
29,047
18,996
385,322
433,365		 The group The charity
2021
2022
£
£
93,196
102,026
-
1
93,196
102,027
2,540
-
24,768
57,671
400,923
296,091
428,231
353,762
(60,928)
(31,820)
367,303
321,942
460,499
423,969
(14,293)
-
446,206
423,969
69,088
29,047
36,605
18,996
340,513
375,926
446,206
423,969		 The charity
2021
£
91,137
1
91,138
-
78,707
294,639
373,346
(18,715)
354,631
445,769
-
445,769
69,088
36,605
340,076
445,769

13

Arnos Vale Cemetery Trust

Consolidated balance sheets

As at 31 March 2022

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 26 September 2022 and signed on their behalf by

Nigel Dyke - Chair of Trustees

Rupert Mullins TD - Trustee

14

Arnos Vale Cemetery Trust

Consolidated statement of cash flows

For the year ended 31 March 2022

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Decrease / (increase) in stock
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2022
£
(12,841)
43,960
(6,695)
(17,228)
22,509
29,705
(63,806)
(63,806)
(34,101)
400,923
366,822		 2021
£
168,490
38,324
(138)
(8,293)
(13,743)
184,640
(26,680)
(26,680)
157,960
242,963
400,923

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

15

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Arnos Vale Cemetery Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Group accounts

These financial statements consolidate the results of the charitable company and its whollyowned (controlled) subsidiary on a line by line basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

c) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. The trustees consider this appropriate having regard to the current level of unrestricted reserves and continue to monitor the impact of the ongoing Covid-19 pandemic on the budget and financial plans for 2022/23. There are no material uncertainties about the charity's ability to continue as a going concern.

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. 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 treated as a contingent asset and disclosed if material.

16

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies (continued)

d) Income (continued)

Income from other trading activities is recognised when the goods or services are delivered. Income received in advance of events or hire is deferred until the event is held.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between the cost of raising funds and expenditure on charitable activities on the basis of staff time, as follows:

2022 2021
Raising funds (voluntary income) 8.1% 9.1%
Charitable activities 91.9% 90.9%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Long term leasehold property improvements 10% straight line
Motor vehicles 25% straight line
Fixtures and fittings 10% - 25% straight line

Items of equipment are capitalised where the purchase price exceeds £1,000.

j) Investments

Investments in subsidiaries are valued at cost less provision for impairment.

17

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies (continued)

k) Stock

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.

l) Debtors

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

m) Cash at bank and in hand

Cash at bank and cash 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.

n) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

p) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the statement of financial activities.

q) Operating leases

Rental payments under operating leases are charged to the statement of financial activities on a straight line basis over the term of the relevant lease.

r) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note 1 (i) above.

18

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

2. Prior period comparatives: consolidated statement of financial activities

Income from:
Donations and legacies
Charitable activities
Other trading activities
Total income
Expenditure on:
Raising funds:
Voluntary income
Fundraising trading
Investment management
Charitable activities
Total expenditure
Net income
Transfers between funds
Net movement in funds
3.
Income from donations and legacies
Donations
Legacies
Grants
Quartet investment
Total income from donations and legacies
Prior period comparative:
Donations
Legacies
Grants
Quartet investment
Total income from donations and legacies		 Restricted
£
£
285,480
219,186
-
120,454
-
44,619
285,480
384,259
-
31,147
-
30,223
-
7,752
307,490
124,637
307,490
193,759
(22,010)
190,500
-
-
(22,010)
190,500
Restricted
£
£
-
38,237
-
49,392
152,342
8,072
-
82,786
152,342
178,487
Restricted
£
£
-
54,433
-
28,119
285,480
66,869
-
69,765
285,480
219,186
Unrestricted
Unrestricted
Unrestricted		 2021
Total
£
504,666
120,454
44,619
669,739
31,147
30,223
7,752
432,127
501,249
168,490
-
168,490
2022
Total
£
38,237
49,392
160,414
82,786
330,829
2021
Total
£
54,433
28,119
352,349
69,765
504,666

19

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

4. Income from charitable activities

Income from charitable activities
Cemetery services
Public engagement and learning
Other
Total income from charitable activities		 2022
Total
£
126,231
11,780
96
138,107		 2021
Total
£
119,367
1,087
-
120,454

All income from charitable activities was unrestricted in both the current and prior year.

5. Income from other trading activities

Trading activities of subsidiary 2022
Total
£
196,996		 2021
Total
£
44,619

All income from other trading activities was unrestricted in both the current and prior year.

6. Government grants

The charitable company receives government grants, defined as funding from the Cultural Recovery Fund, Bristol City Council, the Kickstart scheme, and in 2021 from the Coronavirus Job Retention Scheme to fund charitable activities. The total value of such grants in the period ending 31 March 2022 was £123,382 (2021: £201,969). There are no unfulfilled conditions or contingencies attaching to these grants in 2021/22.

20

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

7. Total expenditure

Total expenditure
Staff costs (note 9)
Other staff costs
Premises and estate expenses
Fundraising
Cemetery services
Public engagement
Insurance
Investment management fees
Legal and professional
Accountancy
Depreciation
Office costs
Cost of trading activities
Sub-total
Total expenditure
Allocation of
support and governance costs		 Raising funds
(voluntary
income)
£
17,396
-
-
306
-
-
-
-
-
-
-
-
-
17,702
7,960
25,662		 Raising funds
(fundraising
trading)
£
112,903
471
-
328
-
-
-
-
-
1,500
1,358
1,946
41,093
159,599
-
159,599		 Raising funds
(investment
management)
£
-
-
-
-
-
-
-
9,198
-
-
-
-
-
9,198
-
9,198		 Charitable
activities
£
196,323
7,718
123,572
-
18,584
5,682
-
-
-
-
42,602
-
-
394,481
89,833
484,314		 Support and
governance
costs
£
34,791
-
-
-
-
-
13,180
-
22,860
7,343
-
19,619
-
97,793
(97,793)
-		 2022 Total
£
361,413
8,189
123,572
634
18,584
5,682
13,180
9,198
22,860
8,843
43,960
21,565
41,093
678,773
-
678,773

Total governance costs were £7,751 (2021: £10,545).

21

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

7.
Total expenditure - prior period comparative
Raising funds
(voluntary
income)
£
Staff costs (note 9)
17,232
Other staff costs
-
Premises and estate expenses
-
Fundraising
264
Cemetery services
-
Public engagement
-
Insurance
-
Investment management fees
-
Legal and professional
-
Accountancy
-
Depreciation
-
Office costs
-
Irrecoverable VAT
-
Cost of trading activities
-
Sub-total
17,496
13,651
Total expenditure
31,147
Allocation of
support and governance costs		 Raising funds
(fundraising
trading)
£
16,601
-
-
698
-
-
-
-
-
1,017
3,403
617
-
7,887
30,223
-
30,223		 Raising funds
(investment
management)
£
-
-
-
-
-
-
-
7,752
-
-
-
-
-
-
7,752
-
7,752		 Charitable
activities
£
172,309
1,266
64,639
-
17,613
4,863
-
-
-
-
34,921
-
-
-
295,611
136,516
432,127		 Support and
governance
costs
£
97,642
-
-
-
-
-
11,530
-
8,500
9,528
-
12,969
9,998
-
150,167
(150,167)
-		 2021 Total
£
303,784
1,266
64,639
962
17,613
4,863
11,530
7,752
8,500
10,545
38,324
13,586
9,998
7,887
501,249
-
501,249

22

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

8. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiners' remuneration:
Independent examination (including VAT)
Other services (including VAT)		 2022
£
43,960
1,358
Nil
Nil
4,050
1,962		 2021
£
38,324
160
Nil
Nil
4,740
1,320

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 Group
2022
£
333,684
21,279
6,450
361,413		 Group
2021
£
277,125
21,387
5,272
303,784

No employee earned more than £60,000 during the year.

The key management personnel of the charitable company comprises of the Chief Executive Officer. The total employee benefits of the key management personnel were £41,481 (2021: £40,649).

Average head count Group
2022
No.
22		 Group
2021
No.
13

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. The charity's subsidiary, Arnos Vale Cemetery Enterprises Limited, gift aids its available trading profits to the charity. There was no taxable profit retained by Arnos Vale Cemetery Enterprises Limited that was chargeable to corporation tax in the current or prior year.

23

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

11. Tangible fixed assets Group

Tangible fixed assets
Group
£
Cost
At 1 April 2021
126,521
Additions in year
42,875
At 31 March 2022
169,396
Depreciation
At 1 April 2021
55,080
Charge for the year
31,265
At 31 March 2022
86,345
Net book value
At 31 March 2022
83,051
At 31 March 2021
71,441
Charity
£
Cost
At 1 April 2021
126,521
Additions in year
42,875
At 31 March 2022
169,396
Depreciation
At 1 April 2021
55,080
Charge for the year
31,265
At 31 March 2022
86,345
Net book value
At 31 March 2022
83,051
At 31 March 2021
71,441
Long-term
leasehold
property
improvement
Long-term
leasehold
property
improvement		 £
7,750
-
7,750
3,875
1,938
5,813
1,937
3,875
£
7,750
-
7,750
3,875
1,938
5,813
1,937
3,875
Motor
vehicles
Motor
vehicles		 £
155,180
20,931
176,111
137,300
10,757
148,057
28,054
17,880
£
123,540
10,617
134,157
107,719
9,400
117,119
17,038
15,821
Fixtures
and
fittings
Fixtures
and
fittings		 Total
£
289,451
63,806
353,257
196,255
43,960
240,215
113,042
93,196
Total
£
257,811
53,492
311,303
166,674
42,603
209,277
102,026
91,137

24

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

11. Tangible fixed assets (continued)

In 2011 Bristol City Council granted Arnos Vale Cemetery Trust a 125 year lease for the cemetery. Arnos Vale Cemetery Trust do not recognise the lease as an asset in the financial statements as the trustees have assessed that the lease does not have an intrinsic value due to the restrictions of use of the site and the cost of upkeep of the cemetery.

12. Investments

Investments in subsidiary The group
2022
£
-		 The group
2021
£
-		 The charity
2022
£
1		 The charity
2021
£
1

The investment represents 100% of the ordinary share capital of Arnos Vale Cemetery Enterprises Limited, whose principal activity is to carry out trading activities in support of the charity. A summary of the financial results and position of Arnos Vale Cemetery Enterprises Limited is given below (see note 13).

13. Subsidiary undertakings

Arnos Vale Cemetery Enterprises Limited

Arnos Vale Cemetery Enterprises Limited is the trading arm of the charity, of which Arnos Vale Cemetery Trust is the sole shareholder.

Turnover
Cost of sales
Gross profit
Administrative expenses
Operating profit
Interest payable
Profit on ordinary activities before taxation
Tax on profit on ordinary activities
Profit for the financial year after taxation
Total retained earnings brought forward
Total comprehensive income for the year
Gift aid distribution to parent charity
Total retained earnings carried forward		 2022
£
196,996
(39,357)
157,639
(120,242)
37,397
-
37,397
-
37,397
439
37,397
(28,441)
9,395		 2021
£
44,619
(7,887)
36,732
(22,331)
14,401
(5)
14,396
-
14,396
3,842
14,396
(17,799)
439

25

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

13. Subsidiary undertakings (continued)

The aggregate of the assets, liabilities and funds was:

Assets
Liabilities
Funds		 2022
£
113,413
(104,017)
9,396		 2021
£
112,821
(112,381)
440

14. Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

Gross income
Results for the year
15. Stock
Merchandise
Café stock
16. Debtors
Trade debtors
Prepayments and accrued income
Other debtors
Amounts owed by group undertakings		 Group
2022
£
5,956
29,074
6,966
-
41,996		 Group
2021
£
15,899
8,406
463
-
24,768		 2022
£
497,377
(21,797)
Group
2022
£
5,559
3,676
9,235
Charity
2022
£
4,050
8,549
6,966
38,106
57,671		 2021
£
642,919
171,894
Group
2021
£
2,540
-
2,540
Charity
2021
£
14,025
8,406
400
55,876
78,707

26

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

17. Creditors : amounts due within 1 year

Creditors : amounts due within 1 year
Trade creditors
Accruals and deferred income
VAT
Other taxation and social security		 Group
2022
£
18,221
58,138
5,964
-
82,323		 Group
2021
£
5,072
53,602
499
1,755
60,928		 Charity
2022
£
17,057
9,973
4,790
-
31,820		 Charity
2021
£
5,072
11,627
261
1,755
18,715

18. Creditors : amounts falling due after more than one year

Deferred income
19. Deferred income
At 1 April 2021
Deferred during the year
Released during the year
At 31 March 2022		 Group
2022
£
15,407
Group
2022
£
55,168
59,394
(55,168)
59,394		 Group
2021
£
14,293
Group
2021
£
62,594
55,168
(62,594)
55,168

Deferred income relates to hire and weddings paid for in advance.

27

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

20. Analysis of net assets between funds

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Net assets at 31 March 2022
Prior period comparative
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Net assets at 31 March 2021		 £
-
29,047
-
-
29,047
£
-
69,088
-
-
69,088
Restricted
funds
Restricted
funds		 Designated
funds
£
-
18,996
-
-
18,996
Designated
funds
£
-
36,605
-
-
36,605		 General
funds
£
113,042
370,010
(82,323)
(15,407)
385,322
General
funds
£
93,196
322,538
(60,928)
(14,293)
340,513		 Total
funds
£
113,042
418,053
(82,323)
(15,407)
433,365
Total
funds
£
93,196
428,231
(60,928)
(14,293)
446,206

28

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

21. Movements in funds

Movements in funds
Restricted funds
The Raja Fund
NLHF - Resilience
Post Code Lottery
Historic England
Kickstart
Cultural Recovery Fund
Rooted in Nature
Total restricted funds
Designated funds:
Shop improvement grant
Total designated funds
General funds
Total unrestricted funds
Total funds
Friends of Arnos Vale Cemetery
Trust
Unrestricted funds		 At 1 April
2021
£
29,047
15,165
16,896
7,980
-
-
-
69,088
22,492
14,113
36,605
340,513
377,118
446,206		 Income
£
-
29,850
-
2,760
14,711
100,600
4,421
152,342
9,238
-
9,238
504,352
513,590
665,932		 £
-
(40,208)
(57)
(10,740)
(14,711)
(96,782)
(4,421)
(166,919)
(12,734)
(17,765)
(30,499)
(481,355)
(511,854)
(678,773)
Expenditure		 £
£
-
29,047
(4,807)
-
(16,839)
-
-
-
-
-
(3,818)
-
-
-
(25,464)
29,047
-
18,996
3,652
-
3,652
18,996
21,812
385,322
25,464
404,318
-
433,365
Transfers
between
funds
At 31 March
2022
29,047
18,996
-
18,996
385,322
404,318
433,365

Purposes of restricted funds The Raja Fund This fund is for the following agreed purposes connected with the Raja Rammohan Roy:

29

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

21. Movements in funds (continued)

Movements in funds (continued)
NLHF - Resilience A grant from the National Lottery Heritage Fund for the following
purposes:
- Recruit and employ part and full time staff, and appointment of
consultants;
- Staff training 8, hosting training days for other organisations;
- Installation of foot counters, new tills and computers; and
- Purchase of survey subscriptions.
Post Code Lottery This is an Access Grant for the improvement of a footpath at
Amos Vale. As a result of Covid restrictions most of this work
was undertaken in 2021/22 with the agreement of the funder.
Historic England A grant to modify and repair the Anglican Chapel roof to prevent
rainwater ingressing into the chapel.
Kickstart The Kickstart Scheme provides funding to employers to create
jobs for 16-24 year olds on universal credit. The Trust employed
2 individuals during the year who completed the programme
within the year.
Cultural Recovery Fund A grant to help the organisation recover from the economic
impact of Covid-19 and to ensure financial viability in the future.
Including covering core costs such as salaries and utilities, repair,
Covid-19 related costs and support with business planning and
CRM development.
Rooted in Nature A grant from the National Lottery Heritage Fund to firstly address
Ash dieback on site and the long term recovery and improvement
of the woodland. Secondly to create new opportunities for people
to engage with Heritage and increase their skills, knowledge and
understanding of nature conservation.
Purposes of designated funds
Friends of Arnos Vale Cemetery The Friends of Arnos Vale raise funds to support the Cemetery
Trust on specific projects.
Shop improvement grant Funds designated to employ a shop manager for the onsite shop,
including wages costs and training.

Purposes of transfers between funds

Transfers out of restricted funds in the year relate to the purchase of tangible fixed assets from restricted income. The transfer into the designated fund in the year was due to an overspend on this project.

30

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

21. Movements in funds (continued)

Movements in funds (continued)
Prior period comparative
Restricted funds
The Raja Fund
Community Infrastructure Levy (CIL)
NLHF - Resilience
Post Code Lottery
Power to Change - M&S
Power to Change
NLHF - COVID19
Cultural Recovery Fund
Historic England
CIL Third Party Projects
Total restricted funds
Designated funds:
Shop improvement grant
Total designated funds
General funds
Total unrestricted funds
Total funds
Friends of Arnos Vale Cemetery
Trust
Unrestricted funds		 At 1 April
2020
£
29,047
2,494
24,942
16,896
5,400
-
-
-
-
12,319
91,098
22,964
17,765
40,729
145,889
186,618
277,716		 Income
£
-
-
-
600
30,000
110,500
136,100
8,280
-
285,480
4,698
-
4,698
379,561
384,259
669,739		 £
-
(2,494)
(9,777)
-
(6,000)
(30,000)
(110,500)
(136,100)
(300)
(12,319)
(307,490)
(5,170)
(3,652)
(8,822)
(184,937)
(193,759)
(501,249)
Expenditure		 £
£
-
29,047
-
-
-
15,165
-
16,896
-
-
-
-
-
-
-
-
-
7,980
-
-
-
69,088
-
22,492
-
14,113
-
36,605
-
340,513
-
377,118
-
446,206
Transfers
between
funds
At 31 March
2021
69,088
22,492
14,113
36,605
340,513
377,118
446,206

22. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 Group
2022
£
3,064
1,330
4,394		 Group
2021
£
160
-
160		 Charity
2022
£
3,064
1,330
4,394		 Charity
2021
£
160
-
160

31

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2022

23. Related party transactions

Arnos Vale Cemetery Trust has a wholly owned subsidiary, Arnos Vale Cemetery Enterprises Limited, a company limited by shares (company no. 07314116). At 31 March 2022, Arnos Vale Cemetery Enterprises Limited owed £38,106 to Arnos Vale Cemetery Trust (2021: £55,876).

24. Endowment fund

Quartet Community Foundation manages two separate endowment funds which have been created and funded for the benefit of Arnos Vale Cemetery.

The first of these is a Trust fund created from grants by Bristol City Council to Quartet Community Foundation (then the Greater Bristol Fund) for the purpose of "the maintenance, repair and management… of Arnos Vale Cemetery…". Under the terms of the grant, QCF is permitted to pay over the income and any capital from the fund that it shall have determined to the "Cemetery Trustees" or any other person "responsible for... the Cemetery". AVCT has been in receipt of the income from this fund annually and of capital drawdowns as and when requested of QCF by AVCT.

The second fund is the Catalyst fund created from monies raised by AVCT itself in the four-year period to June 2016, which were match funded by the Heritage Lottery Fund. The terms of this fund permit AVCT to receive and spend its income, but the capital cannot be drawn on in the initial 25 years of the fund's existence.

A summary of the movements on these funds since inception are given below:

Capital added
Fund income and investment gains
Quartet management fees
Income paid out to AVCT
Capital drawn down by AVCT
Fund balance at 31/03/22		 Cumulative
2022
£'000
£'000
1,500
-
1,417
105
(149)
(6)
(795)
(44)
(818)
-
1,155
55
Endowment Trust fund		 Cumulative
2022
£'000
£'000
594
-
368
60
(27)
(4)
(169)
(29)
-
-
766
27
Catalyst fund		 Cumulative
2022
£'000
£'000
594
-
368
60
(27)
(4)
(169)
(29)
-
-
766
27
Catalyst fund
27

32