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2023-03-31-accounts

Company no. 06272084 Charity no. 1120210

Arnos Vale Cemetery Trust Report and Unaudited Financial Statements

31 March 2023

Arnos Vale Cemetery Trust

Contents

For the year ended 31 March 2023
Page
Reference and administrative details 1
Trustees' report 2 - 10
Independent examiner's report 11 - 12
Consolidated statement of financial activities 13
Consolidated balance sheet 14 - 15
Consolidated statement of cash flows 16
Notes to the financial statements 17 - 33

Arnos Vale Cemetery Trust

Reference and administrative details

For the year ended 31 March 2023

Company number 06272084
Charity number 1120210
Registered office and West Lodge
operational address Arnos Vale Cemetery
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:
Alexander Bishop (appointed 17 April 2023)
Dr Charles Booth
Jos Clark
Paul Davis
Nigel Dyke (Chair)
Daniel Flew
Matt Kyle
Rupert Mullins TD
Stephanie Mustoe (appointed 2 February 2023)
Lynn Robinson
Lindsay Telling
Mary Wood (appointed 4 July 2023)
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 2023

The Trustees, who are also the Directors under company law, present their annual report and financial statements for the year ended 31 March 2023.

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

History 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 its 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. We continue to research the history of the cemetery and those remembered here, to develop our talks, tours and information continually adding to our understanding. Much of this research is undertaken by our volunteers.

2

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2023

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.

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 2023

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. The Board was strengthened during the year by the addition of a new trustee, with a second joining in April 2023, and a third in July 2023.

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 by gift aid. 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 2023

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 examine progress this financial year without mentioning the ongoing impact of Covid that particularly impacted the first half of the year as we cautiously continued to emerge from the pandemic. The situation during the year was an evolving one, requiring us to remain collectively flexible, as we cautiously restarted significant events. There were challenging impacts on staffing and ongoing periods of adjustment as the year progressed.

The site in the heart of Bristol continued to attract high visitor numbers. As with every other aspect of the way we work, Covid saw us adapt our approach to our people. Re-opening the café, shop and significant events was challenging, as restrictions were eased and staffing at times proved challenging due to Covid outbreaks and recruitment issues. The focus throughout was very much health and safety of our people, visitors, volunteers and staff at its core.

We would like to thank our supporters including the Friends of Arnos Vale, individuals, Trusts, Foundations and Government, who have helped us throughout this difficult time.

5

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2023

1. Conservation

2. Community engagement

6

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2023

3. Burial and bereavement services

4. Events

5. Financial sustainability

▪Regular review of financial forecast and reserves policies continue; and

7

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2023

Financial review and results for the year

The deficit for the year from operating activities (net income from unrestricted funds before transfers) was £58,003 (2022: Surplus £1,736). During the financial year to 31 March 2022, the Trust relied on a significant level of support primarily from the DCMS Cultural recovery fund for Heritage, totalling £100,600. This, along with other grants, enabled the Trust to meet a significant level of our operational and estate costs during that year, while our ability to generate income was limited by the pandemic.

The aim for 2022/23 was to replace this funding by fully reopening our events and activities to pre pandemic levels, during a period of continued uncertainty. The main challenges were:

▪Covid continued to impact delivery through staff absence, regulatory and visitor uncertainty;

The overall deficit for the year, including restricted funds, was £48,978 (2022: £12,841). Given the difficult trading conditions, the Trustees are satisfied with the deficit for the year, as an appropriate use of its reserve policy to manage such risks.

Reserves and going concern

The Trustees’ 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 3 months unrestricted expenditure. The Trustees 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 that the Trust operates in the Finance Committee will review the reserves policy and the risk profile on at least an annual basis.

At 31 March 2023 the liquid unrestricted funds (defined as net current assets held in general funds were £236,425 (2022: £287,687), equivalent to 4 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.

8

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2023

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:

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.

9

Arnos Vale Cemetery Trust

Report of the Trustees

For the year ended 31 March 2023

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 28 September 2023 and signed on their behalf by

Nigel Dyke Trustee

Rupert Mullins TD Trustee

10

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 2023, which are set out on pages 13 to 33.

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 payroll and ad hoc VAT support 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:

11

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: 28 September 2023 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

12

Arnos Vale Cemetery Trust

Consolidated statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 March 2023

Restricted
Note
£
Income from:
Donations and legacies
3
93,470
Charitable activities
4
-
Other trading activities
5
-
Total income
93,470
Expenditure on:
Raising funds:
Voluntary income
-
Fundraising trading
-
Investment management
-
Charitable activities
84,445
Total expenditure
7
84,445
Net income / (expenditure)
9,025
Transfers between funds
(9,025)
Net movement in funds
8
-
Reconciliation of funds:
Total funds brought forward
29,047
Total funds carried forward
29,047		 Unrestricted
£
132,592
213,420
361,374
707,386
13,195
351,294
9,603
391,297
765,389
(58,003)
9,025
(48,978)
404,318
355,340		 2023
Total
£
226,062
213,420
361,374
800,856
13,195
351,294
9,603
475,742
849,834
(48,978)
-
(48,978)
433,365
384,387		 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

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.

13

Arnos Vale Cemetery Trust

Consolidated balance sheets

As at 31 March 2023

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
2023
£
109,271
-
109,271
10,742
61,175
276,821
348,738
(66,177)
282,561
391,832
(7,445)
384,387
29,047
17,089
338,251
384,387		 The group The charity
2022
2023
£
£
113,042
99,653
-
1
113,042
99,654
9,235
-
41,996
71,472
366,822
232,686
418,053
304,158
(82,323)
(30,918)
335,730
273,240
448,772
372,894
(15,407)
-
433,365
372,894
29,047
29,047
18,996
17,089
385,322
326,758
433,365
372,894		 The charity
2022
£
102,026
1
102,027
-
57,671
296,091
353,762
(31,820)
321,942
423,969
-
423,969
29,047
18,996
375,926
423,969

14

Arnos Vale Cemetery Trust

Consolidated balance sheets

As at 31 March 2023

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 28 September 2023 and signed on their behalf by

Nigel Dyke - Chair of Trustees

Rupert Mullins TD - Trustee

15

Arnos Vale Cemetery Trust

Consolidated statement of cash flows

For the year ended 31 March 2023

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Increase in stock
Increase in debtors
(Decrease) / increase in creditors
Net cash (used in) / provided by operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Net cash used in investing activities
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		 2023
£
(48,978)
49,233
(1,507)
(19,179)
(24,108)
(44,539)
(45,462)
(45,462)
(90,001)
366,822
276,821		 2022
£
(12,841)
43,960
(6,695)
(17,228)
22,509
29,705
(63,806)
(63,806)
(34,101)
400,923
366,822

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

16

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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, which the trustees consider appropriate having regard to the current level of unrestricted reserves. 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.

17

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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:

2023 2022
Raising funds (voluntary income) 4.5% 8.1%
Charitable activities 95.5% 91.9%

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.

18

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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.

19

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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 (expenditure) / 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
£
£
152,342
178,487
-
138,107
-
196,996
152,342
513,590
-
25,662
-
159,599
-
9,198
166,919
317,395
166,919
511,854
(14,577)
1,736
(25,464)
25,464
(40,041)
27,200
Restricted
£
£
-
28,719
-
15,151
93,470
2,000
-
86,722
93,470
132,592
Restricted
£
£
-
38,237
-
49,392
152,342
8,072
-
82,786
152,342
178,487
Unrestricted
Unrestricted
Unrestricted		 2022
Total
£
330,829
138,107
196,996
665,932
25,662
159,599
9,198
484,314
678,773
(12,841)
-
(12,841)
2023
Total
£
28,719
15,151
95,470
86,722
226,062
2022
Total
£
38,237
49,392
160,414
82,786
330,829

20

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

4. Income from charitable activities

Income from charitable activities
Cemetery services
Public engagement and learning
Other
Total income from charitable activities		 2023
Total
£
195,860
17,467
93
213,420		 2022
Total
£
126,231
11,780
96
138,107

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

5. Income from other trading activities

Trading activities of subsidiary 2023
Total
£
361,374		 2022
Total
£
196,996

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, and the Kickstart scheme to fund charitable activities. The total value of such grants in the period ending 31 March 2023 was £nil (2022: £123,382). There are no unfulfilled conditions or contingencies attaching to these grants in 2022/23.

21

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

7. Total expenditure

Total expenditure
Staff costs (note 9)
Non payroll staff costs
Premises and estate expenses
Fundraising
Cemetery services
Public engagement
Insurance
Investment management fees
Legal and professional
Accountancy
Depreciation
Office costs
Irrecoverable VAT
Cost of trading activities
Sub-total
Total expenditure
Allocation of
support and governance costs		 Raising funds
(voluntary
income)
£
9,938
-
-
123
-
-
-
-
-
-
-
-
-
-
10,061
3,134
13,195		 Raising funds
(fundraising
trading)
£
241,746
3,620
95
2,097
-
-
-
-
18
1,600
2,737
6,752
-
92,629
351,294
-
351,294		 Raising funds
(investment
management)
£
-
-
-
-
-
-
-
9,603
-
-
-
-
-
-
9,603
-
9,603		 Charitable
activities
£
211,184
3,314
105,201
-
26,519
6,489
-
-
-
-
46,496
-
9,953
-
409,156
66,586
475,742		 Support and
governance
costs
£
27,330
-
-
-
-
-
14,834
-
7,681
6,130
-
13,745
-
-
69,720
(69,720)
-		 2023 Total
£
490,198
6,934
105,296
2,220
26,519
6,489
14,834
9,603
7,699
7,730
49,233
20,497
9,953
92,629
849,834
-
849,834

Total governance costs were £7,730 (2022: £7,751).

22

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

7.
Total expenditure - prior period comparative
Raising funds
(voluntary
income)
£
Staff costs (note 9)
17,396
Non payroll staff costs
-
Premises and estate expenses
-
Fundraising
306
Cemetery services
-
Public engagement
-
Insurance
-
Investment management fees
-
Legal and professional
-
Accountancy
-
Depreciation
-
Office costs
-
Cost of trading activities
-
Sub-total
17,702
7,960
Total expenditure
25,662
Allocation of
support and governance costs		 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

23

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

8. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiners' remuneration:
▪Independent examination (excluding VAT)
▪Other services (excluding VAT)		 2023
£
49,233
3,198
-
-
4,350
2,586		 2022
£
43,960
1,358
-
-
4,050
1,962

9. Staff costs and numbers Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 Group
2023
£
451,791
29,703
8,704
490,198		 Group
2022
£
333,684
21,279
6,450
361,413

No employee earned more than £60,000 during the current or prior 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 £43,536 (2022: £41,481).

Average head count
Average full time equivalent		 Group
2023
No.
33
Group
2023
No.
17		 Group
2022
No.
22
Group
2022
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.

24

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

11. Tangible fixed assets
Group
£
Cost
At 1 April 2022
169,396
Additions in year
38,709
Disposals
-
At 31 March 2023
208,105
Depreciation
At 1 April 2022
86,345
Charge for the year
35,364
Disposals
-
At 31 March 2023
121,709
Net book value
At 31 March 2023
86,396
At 31 March 2022
83,051
Charity
£
Cost
At 1 April 2022
169,396
Additions in year
38,709
Disposals
-
At 31 March 2023
208,105
Depreciation
At 1 April 2022
86,345
Charge for the year
35,364
Disposals
-
At 31 March 2023
121,709
Net book value
At 31 March 2023
86,396
At 31 March 2022
83,051
Long-term
leasehold
property
improvement
Long-term
leasehold
property
improvement		 £
7,750
-
-
7,750
5,813
1,937
-
7,750
-
1,937
£
7,750
-
-
7,750
5,813
1,937
-
7,750
-
1,937
Motor
vehicles
Motor
vehicles		 £
176,111
6,753
(1,074)
181,790
148,057
11,932
(1,074)
158,915
22,875
28,054
£
134,157
5,414
(1,074)
138,497
117,119
9,195
(1,074)
125,240
13,257
17,038
Fixtures
and
fittings
Fixtures
and
fittings		 Total
£
353,257
45,462
(1,074)
397,645
240,215
49,233
(1,074)
288,374
109,271
113,042
Total
£
311,303
44,123
(1,074)
354,352
209,277
46,496
(1,074)
254,699
99,653
102,026

25

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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 Group
2023
£
-		 Group
2022
£
-		 Charity
2023
£
1		 Charity
2022
£
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		 2023
£
361,374
(86,733)
274,641
(264,561)
10,080
-
10,080
-
10,080
9,395
10,080
(7,981)
11,494		 2022
£
196,996
(39,357)
157,639
(120,242)
37,397
-
37,397
-
37,397
439
37,397
(28,441)
9,395

26

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

13. Subsidiary undertakings (continued)

The aggregate of the assets, liabilities and funds was:

Assets
Liabilities
Funds		 2023
£
86,906
(75,411)
11,495		 2022
£
113,413
(104,017)
9,396

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
2023
£
3,271
57,563
341
-
61,175		 Group
2022
£
5,956
29,074
6,966
-
41,996		 2023
£
447,463
(51,076)
Group
2023
£
7,689
3,053
10,742
Charity
2023
£
1,990
36,434
341
32,707
71,472		 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

27

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

17. Creditors : amounts due within 1 year

Creditors : amounts due within 1 year
Trade creditors
Accruals
Deferred income
VAT		 Group
2023
£
9,741
17,630
34,978
3,828
66,177		 Group
2022
£
18,221
14,148
43,990
5,964
82,323		 Charity
2023
£
8,906
12,234
5,950
3,828
30,918		 Charity
2022
£
17,057
9,973
-
4,790
31,820

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

Deferred income
19. Deferred income
At 1 April 2022
Deferred during the year
Released during the year
At 31 March 2023		 Group
2023
£
59,397
41,309
(58,283)
42,423		 Group
2022
£
55,168
70,051
(65,822)
59,397		 Group
2023
£
7,445
Charity
2023
£
-
5,950
-
5,950		 Group
2022
£
15,407
Charity
2022
£
-
-
-
-

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

28

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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 2023
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 2022		 £
-
29,047
-
-
29,047
£
-
29,047
-
-
29,047
Restricted
funds
Restricted
funds		 Designated
funds
£
-
17,089
-
-
17,089
Designated
funds
£
-
18,996
-
-
18,996		 General
funds
£
109,271
302,602
(66,177)
(7,445)
338,251
General
funds
£
113,042
370,010
(82,323)
(15,407)
385,322		 Total
funds
£
109,271
348,738
(66,177)
(7,445)
384,387
Total
funds
£
113,042
418,053
(82,323)
(15,407)
433,365

29

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

21. Movements in funds

Restricted funds
The Raja Fund
Rooted in Nature
SBES Resilience
Total restricted funds
Designated funds:
Total designated funds
General funds
Total unrestricted funds
Total funds
Purposes of restricted funds
The Raja Fund
Friends of Arnos Vale Cemetery
Trust
Unrestricted funds		 At 1 April
2022
Income
£
£
£
£
£
29,047
-
-
-
29,047
-
90,470
(81,445)
(9,025)
-
-
3,000
(3,000)
-
-
29,047
93,470
(84,445)
(9,025)
29,047
18,996
3,525
(832)
(4,600)
17,089
18,996
3,525
(832)
(4,600)
17,089
385,322
703,861
(764,557)
13,625
338,251
404,318
707,386
(765,389)
9,025
355,340
433,365
800,856
(849,834)
-
384,387
Transfers
between
funds
At 31 March
2023
Expenditure
This fund is for the following agreed purposes connected with the
Raja Rammohan Roy:

30

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

21. Movements in funds (continued)

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.

SBES Resilience Funding to support the development of business resilience
strategies.
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 was 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 provided funding to employers to create
jobs for 16-24 year olds on universal credit. The Trust employed
2
individuals
during
the
21/22
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.
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 out of the designated fund in the year relates to anglican roof works in the current and prior year which the friends agreed to fund. The transfer into the designated fund in the prior year was due to an overspend on this project.

31

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

21. Movements in funds (continued)

Movements in funds (continued)
Prior period comparative
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

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
2023
£
1,064
266
1,330		 Group
2022
£
3,064
1,330
4,394		 Charity
2023
£
1,064
266
1,330		 Charity
2022
£
3,064
1,330
4,394

32

Arnos Vale Cemetery Trust

Notes to the financial statements

For the year ended 31 March 2023

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 2023, Arnos Vale Cemetery Enterprises Limited owed £32,707 to Arnos Vale Cemetery Trust (2022: £38,106).

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 / (losses)
Quartet management fees
Income paid out to AVCT
Capital drawn down by AVCT
Fund balance at 31/03/23		 Cumulative
2023
£'000
£'000
1,500
-
1,375
(42)
(155)
(6)
(841)
(46)
(818)
-
1,061
(94)
Endowment Trust fund		 Cumulative
2023
£'000
£'000
594
-
337
(31)
(31)
(4)
(199)
(30)
-
-
701
(65)
Catalyst fund		 Cumulative
2023
£'000
£'000
594
-
337
(31)
(31)
(4)
(199)
(30)
-
-
701
(65)
Catalyst fund
(65)

33