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2020-12-31-accounts

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

COMPANY NO: 06460936

REGISTERED CHARITY NUMBER: 1123473

HORSELL COMMON PRESERVATION SOCIETY CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

Page
Reference and Administrative Details 1 to 2
Trustees’ Annual Report 3 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 18

HORSELL COMMON PRESERVATION SOCIETY

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2020

Registered Company name and number

Horsell Common Preservation Society, a Company limited by Guarantee Registration number 06460936 (England and Wales)

Registered charity name and number

The Horsell Common Preservation Society Registration number 1123473

Registered office

Heather Farm Horsell Common Woking, Surrey GU21 4XY

Trustees

Chair

R Hoyle to 27 April 2021 P Downes from 27 April 2021

Treasurer

P Downes (F)

Other Trustees

E M Cuttle (E)

A J Halstead (Chair E) R Hoyle (resigned 27 April 2021) C Hughes (Chair P) H Lane (E) J Loeffler (F) D Ludlow (resigned 14 May 2021) R Neale (F) P Robinson (P) M Scott (appointed 26 January 2021) (E) J Leggett (appointed 26 January 2021) (F)

F= Finance & Legal sub-committee E= Estates Management sub-committee

P= PR sub-committee

Company Secretary

D Ludlow (resigned 14 May 2021)

J Dalgliesh (appointed 14 May 2021)

Directors of Heather Farm Limited (100% owned)

P Downes J Loeffler R Neale P Rimmer D Robbins

1

HORSELL COMMON PRESERVATION SOCIETY

REFERENCE AND ADMINISTRATIVE DETAILS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

Independent Examiner

John Speed FCA FCIE JS2 Limited One Crown Square Woking, Surrey GU21 6HR

Solicitors

Moore Barlow Concord House 165 Church Street East Woking, Surrey GU21 6HJ

Main Banker

National Westminster Bank Plc PO Box 358 1 High Street Woking, Surrey GU21 1ZS

Investment Advisors

McInroy & Wood Ltd Easter Alderston Haddington, East Lothian EH41 3SF

2

HORSELL COMMON PRESERVATION SOCIETY

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020

HIGHLIGHTS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document the memorandum and articles of association and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

Recruitment and appointment of trustees

Trustees are appointed by the members of the company in accordance with the memorandum and articles of association. New trustees are provided with extensive induction materials to familiarise them with the workings of the Society and their responsibilities as trustees.

Related party disclosures

No transaction which would need to be disclosed has been notified by any trustee, in relation to the year, nor any balance outstanding from the previous years.

Declarations of interest

An agenda item for recording these, if any, appears on the agenda for each trustee meeting.

Risk management statement

The society maintains a risk register which is regularly reviewed by trustees with practical precautions being implemented by officers and staff.

A key issue is the position of the Society as a substantial landowner. Insurance policies are in place offering significant Public and Employee Liability Insurance. The extent of the cover and the premiums paid are reviewed annually.

Public benefit statement

Section 4 of the Charities Act 2011 requires the charity trustees to comply with their duty to have due regard to public benefit guidance published by the Charity Commission in exercising their powers or duties.

The trustees are mindful of this obligation and have been referring to the guidance when reviewing their aims and objectives and in planning their future activities. In particular they have considered how planned activities will contribute to the aims and objectives they have set.

3

HORSELL COMMON PRESERVATION SOCIETY

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

Summary of the charity’s objects and strategy for achieving them

The objects of the Society are:-

Achievements and performance delivery of public benefit

Covid-19 has had a major impact on Horsell Common, Pyrford Common and other parts of the Society’s estate. There has been a big increase in the number of visitors, which has created problems with litter, the widening of paths during wet weather and complaints about badly behaved dogs.

Volunteer work parties, which help remove birch and pine scrub, had to be cancelled during the lockdown periods to comply with Covid regulations.

The main achievements in 2020 are set out below.

1. A 10-year Forestry Plan has been agreed with the Forestry Commission

Impact:

2. Scots pine woodland to the north of the Sand Pit has been thinned

3. Insect surveys have been carried out in the Sand Pit and on Horsell Birch and McLaren Park

Impact:

4. Himalayan balsam has been reduced to small numbers in previously worked areas. In 2020 Hb removal was extended to the McLaren Park stretch of the Bourne

Impact:

4

HORSELL COMMON PRESERVATION SOCIETY

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

5. Paths in the Heather Farm SANG meadows have been raised

Impact:

6. The car park at Heather Farm has been extended and charging points installed for electric cars Impact:

7. Preparations made to improve the appearance and accessibility of Wheatsheaf Common by thinning the woodland, removing holly scrub and restoring the Sheepwash pond Impact:

8. Volunteer work parties organised in January – March and September – October Impact:

Wheatsheaf Common: Although this has led to several discussions with local residents after work was started it is part of an ongoing project to provide better flood prevention and generally enhance the area for the benefit of all. The works are part of an agreement between the Society, Woking Borough Council, The Forestry Commission, Natural England and Surrey County Council. There has been a lot of antisocial behaviour (homeless camps and drug related issues) in the area in recent years and the works being carried out are aimed to improve this situation especially as Wheatsheaf Common is part of an area classified as SNCI (Site of Nature Conservation Importance).

In addition to the above, there is all the usual work of removing litter, car park and track maintenance and dog bin emptying. Management of Horsell and Pyrford Commons requires liaison with organisations and services, such as the police, Surrey Fire and Rescue service, Woking Borough Council, local residents’ associations, Surrey Wildlife Trust, Natural England, McLaren, English Heritage, the Forestry Commission, Surrey Heathland Project and the Thames Basin Heaths Partnership.

Organisational management

Volunteer working parties were stopped when required to ensure the safety of both the Society’s staff and the volunteers. This does not have a major impact on the current financial stability of the Charity as the work undertaken by the volunteers can be postponed and is not required to be undertaken by paid contractors.

Financial Review

2020 has been a difficult year for many charities and the Society was no exception. Accommodations had to be made with some of our tenants to enable them to survive the dramatic loss of earnings and this has continued into 2021. Correspondingly Covid restrictions have made it difficult to carry out the full programme of common maintenance. These two factors have left the Society broadly in a cash neutral position for the year. The outlook for 2021 remains uncertain and the Society has planned for a "return to normal" from 1 July 2021.

Income for the Society mainly comes from grant funding and a gift aid payment from the subsidiary. The current grant funding has not been impacted by Covid 19. This has meant that some essential work could be carried out. Other income comes from licencing space. The programme of licensing dog walkers was suspended as they were unable to carry out their businesses due to restrictions.

5

HORSELL COMMON PRESERVATION SOCIETY

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

Heather Farm Limited (”HFL”)

The majority of the income for HFL is rental income from tenants who were seriously impacted by Covid 19 in 2020. During the year the lease agreements were amended, where appropriate, to secure the future income of HFL. During the year the employee of HFL has been placed on furlough at various times and all non-essential expenditure was cut. This means HFL was able to breakeven.

As the situation continues in 2021 this is being continually reviewed and monitored with ongoing discussions with the current tenants and plans put in place to resume payment of rent as and when the situation allows.

Reserves Policy

Unrestricted Reserves

The Trustees are mindful of the large contingent risks and opportunities associated with its objectives. With that in mind unrestricted reserves, which are shown in the accounts each year, are maintained for the following:-

The balance of the unrestricted reserves held in the general fund was £684,645 at the year end. Of this balance, £411,316 was held in investments to generate long term income for the charity, and a further £13,394 represented by the book value of fixed asset equipment held at the year end. This leaves our free reserves at £259,935 at the year end, which are held to meet ongoing operations.

Restricted Reserves

a) SANG 1 (Suitable Alternative Natural Greenspace)

This was the first SANG and all payments have now been received from property developers via Woking Borough Council for the purpose of enhancing designated areas of the Common to encourage their public use. The residue of the fund is being used for future maintenance.

b) SANG 2

57 acres at Heather Farm and Mimbridge open for public access and maintained in perpetuity through the legal agreement with Woking Borough Council. Work on SANG 2 was not directly impacted by Covid 19 restrictions.

c) Higher Tier Countryside Stewardship Grant

Countryside Stewardship gives incentives for land managers to look after their environment. Higher Tier is for land that requires more complex management tailored to the individual site. The HCPS agreement provides a sum of £17,000 pa and runs for 10 years from 2018.

Countryside Stewardship is administered by the Rural Payments Agency (RPA) on behalf of the Department for Environment, Food and Rural Affairs (Defra). Natural England provides technical advice in support of the scheme.

6

HORSELL COMMON PRESERVATION SOCIETY

TRUSTEES’ ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

Investment policy and objectives

In accordance with the Memorandum and Articles of the Society the Trustees have wide powers to hold, apply or invest the Society's monies, stocks and shares and shall in their absolute discretion if thought fit, provided that the appropriate professional advice has been sought. Trustees have the power to delegate to professional investment managers within clear investment policy guidelines. The Society's objective is to maximise return over the long term without exceeding the level of risk appropriate for a Charity.

Responsibility Statement

The Trustees (who are also directors of Horsell Common Preservation Society for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.

Company law required the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the income and expenditure of the company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE BOARD :

P W E Downes – Trustee

Date: 27 July 2021

7

HORSELL COMMON PRESERVATION SOCIETY

INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2020 as set out on pages 9 to 18.

Responsibilities and basis of report

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

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

This report is made solely to the charity's trustees, as a body. My work has been undertaken so that I might state to the charity's trustees those matters which I am required to state to them in an independent examiners report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any party other than the charity and charity's trustees as a body, for my examination, for this report, or for the statement I have given below.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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.

JOHN SPEED FCA FCIE

JS2 Limited One Crown Square Woking Surrey GU21 6HR

Date: 29 July 2021

8

HORSELL COMMON PRESERVATION SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 31ST DECEMBER 2020

Note
Income from:
Voluntary income
4
Charitable activities
Grants receivable
6
Other charitable income
Other trading activities
Payments under licence
Management fee
Investment income
5
Total income
Expenditure on:
Charitable Activities
Common maintenance and
other project work
7
Total expenditure
NET INCOME
Other recognised gains
Gain on investment assets
13
Net increase in funds
16
RECONCILIATION OF FUNDS
Funds at beginning of the year
FUNDS AT END OF YEAR		 Unrestricted
funds
2020
£
107,175
21,775
2,641
26,600
-
4,747		 Restricted
funds
2020
£
-
79,512
-
-
463		 Total
funds
2020
£
107,175
101,287
2,641
26,600
-
5,210
242,913
168,655
168,655
74,258
38,811
113,069
3,415,455
3,528,524		 Total
funds
2019
£
80,070
98,202
5,060
52,090
25,000
9,221
162,938 79,975 269,643
89,181 79,474 220,899
89,181 79,474 220,899
73,757
38,811		 501
-		 48,744
27,905
112,568
3,286,141		 501
129,314		 76,649
3,338,806
3,398,709 129,815 3,415,455

All of the above amounts relate to continuing activities.

The annexed Notes form part of these financial statements

9

HORSELL COMMON PRESERVATION SOCIETY (a company registered by guarantee 06460936) BALANCE SHEET AS AT 31ST DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
NET ASSETS
FUNDS
16
Unrestricted funds:
General
Designated Investment Fund
Designated Land Reserve
Land Acquisition Reserve
Legal Contingencies Reserve
TOTAL UNRESTRICTED FUNDS
Restricted funds:
SANG 1
SANG 2
Higher Countryside Stewardship
TOTAL RESTRICTED FUNDS
TOTAL FUNDS		 86,990
469,372		 2020
£
1,087,672
1,901,102
2,988,774
67,832
402,691
470,523
(8,004)
539,750
3,528,524
684,645
1,489,786
1,074,278
100,000
50,000
3,398,709
145,159
(32,352)
17,008
129,815
3,528,524		 2019
£
1,090,638
1,862,298
2,952,936
462,519
556,362
(16,612)
3,415,455
572,077
1,489,786
1,074,278
100,000
50,000
3,286,141
149,092
(19,778)
-
129,314
3,415,455

For the year ending 31 December 2020 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. They were approved and authorised for issue by the directors on 27 July 2021 and signed on their behalf by:-

P Downes - Trustee

The annexed Notes form part of these financial statements

10

HORSELL COMMON PRESERVATION SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

1. GENERAL INFORMATION

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Concord House, Church House, 165 Church Street East, Woking, Surrey, GU2 6HJ, United Kingdom.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with FRS102 ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP FRS102) and the Charities Act 2011.

3. ACCOUNTING POLICIES

Basis of preparation

The accounts present information about the charity as an individual undertaking and not about its group. In the opinion of the Trustees, the charitable company and it’s subsidiary undertaking comprise of a small group.

The charity has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.

The financial statements have been prepared under the historical cost basis, as modified by the revaluation of investments which are included at market value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Trustees have given due consideration for the ondoing effects of the ongoing Covid-19 outbreak. Although there is the potential of some continued negative financial impact in the short-term in the subsidiary trading company, the finances of the Charity itself are largely unaffected by the situation.

The Trustees have concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

Income

Income is accounted for when the Charity has entitlement to the income, it is probable that the income will be received and the amount of income received can be measured reliably.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

11

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

Tangible fixed assets

The freeholds of the Common and other acquired land are shown at original cost with no depreciation. The cost of smaller fixed assets, improvements, or capital expenditure has been written off in the year in which the expense was incurred.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Tractor & Trailer - 10% on cost Motor vehicle - 25% on cost

Investments and Investment Income

Investments are stated at market value. All dividends and interest are included in the Statement of Financial Activities on an accruals basis.

Taxation

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

Fund accounting

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

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

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the Statement of Financial Activities.

Value Added Tax

The Society is not registered for VAT and therefore all costs are stated inclusive of VAT where applicable.

Gift Aid tax recovered

This is calculated on a company year basis to 31 December each year and brought into the accounts on a received basis. The Gift Aid tax in the accounts for this accounting year represents the repayment due for the year ended 31 December 2020.

4. VOLUNTARY INCOME

Subscriptions & donations
Donation received from Heather Farm
Gift aid		 2020
Unrestricted
Funds
£
22,227
82,449
2,499
107,175		 2020
Restricted
Funds
£
-
-
-
-		 2020
Total
Funds
£
22,227
82,449
2,499
107,175		 2019
Total
Funds
£
20,081
57,285
2,164
80,070

In the prior year, all voluntary income was unrestricted.

12

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

5. INVESTMENT INCOME

Investment income
Deposit account interest		 2020
Unrestricted
Funds
£
4,530
217
4,747		 2020
Restricted
Funds
£
-
463
463		 2020
Total
Funds
£
4,530
680
5,210		 2019
Total
Funds
£
7,855
1,366
9,221

In the prior year, deposit account interest of £997 was restricted. All other investment income was unrestricted.

6. GRANTS RECEIVABLE

Rural Payments Agency:
Higher Countryside Stewardship
Single payments scheme
SANG project upkeep grant		 2020
Unrestricted
Funds
£
-
21,775
-
21,775		 2020
Restricted
Funds
£
25,312
-
54,200
79,512		 2020
Total
Funds
£
25,312
21,775
54,200
101,287		 2019
Total
Funds
£
22,019
22,679
53,504
98,202

In the prior year, the Single payments scheme income was unrestricted. All other grants receivable were restricted.

7. CHARITABLE ACTIVITIES

CURRENT YEAR

Common maintenance and
other project work
PRIOR YEAR
Common maintenance and
other project work		 2020
Direct Costs
(Note 8)
£
81,859
2019
Direct Costs
(Note 8)
£
120,809		 2020
Staff Costs
(Note 11)
£
62,008
2019
Staff Costs
(Note 11)
£
73,946		 2020
(Note 9)
£
24,788
2019
(Note 9)
£
26,144
Support &
Governance
Support &
Governance		 2020
Total
Funds
£
168,655
2019
Total
Funds
£
220,899		 2019
Total
Funds
£
220,899

13

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

8. COMMON MAINTENANCE & PROJECT WORK DIRECT COSTS

Common maintenance
Tree work
Higher Countryside Stewardship
SANG 2
SANG 1
Freewheel Project		 2020
Unrestricted
Funds
£
16,919
9,840
-
-
-
-
26,759		 2020
Restricted
Funds
£
-
-
8,304
42,400
4,396
-
55,100		 2020
Total
Funds
£
16,919
9,840
8,304
42,400
4,396
-
81,859		 2019
Total
Funds
£
48,298
13,054
22,620
18,816
7,951
10,070
120,809

In the prior year, the Higher Countryside Stewardship, SANG 1, SANG 2 and Freewheel Project expenditure was restricted. All other costs above were unrestricted.

9. SUPPORT & GOVERNANCE COSTS

Support
Insurance, subscriptions & public relations
Office overheads
Travel expenses
Other costs
Depreciation
Bookkeeping
Governance
Independent Examiner’s fee		 2020
Unrestricted
Funds
£
5,697
7,033
-
3,752
2,966
2,940
2,400
24,788		 2020
Restricted
Funds
£
-
-
-
-
-
-
-
-		 2020
Total
Funds
£
5,697
7,033
-
3,752
2,966
2,940
2,400
24,788		 2019
Total
Funds
£
6,539
6,974
4
3,329
2,966
3,932
2,400
26,144

In the prior year, all governance costs were unrestricted.

10. TRUSTEES' REMUNERATION AND BENEFITS

Trustees are entitled to charge a flat £5 fee per meeting to cover the costs of attending meetings, in 2020 this was less than £500 (2019: < £500).

14

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

11. STAFF COSTS

Wages and salaries
Social security costs
Pension costs
2019		 2020
Unrestricted
Funds
£
31,401
2,383
3,850
37,634
49,886		 2020
Restricted
Funds
(SANG 1&2)
£
20,338
1,543
2,493
24,374
24,060		 2020
Total
Funds
£
51,739
3,926
6,343
62,008
73,946		 2019
Total
Funds
£
62,548
5,691
5,707
73,946

No employee received remuneration of more than £60,000 during the year (2019 - none).

An allocation of the time expended by Mr P Rimmer and volunteers for managing the operation of the SANG 1 & 2 Projects has been included in the project costs shown above in order to allow for the additional overheads involved with the project. This sum has been used to reduce the overhead and support costs as shown in Note 9.

12. TANGIBLE FIXED ASSETS

COST
At 1 January 2020
Additions
At 31 December 2020
DEPRECIATION
At 1 January 2020
Charge for the year
At 31 December 2020
NET BOOK VALUE
At 31 December 2020
At 31 December 2019		 Tractor and
Trailer
£
29,662
-
29,662
13,302
2,966
16,268
13,394
16,360		 Motor
Vehicle
£
27,950
-
27,950
27,950
-
27,950
-
-		 Freehold
Land
£
1,074,278
-
1,074,278
-
-
-
1,074,278
1,074,278		 Total
£
1,131,890
-
1,131,890
41,252
2,966
44,218
1,087,672
1,090,638

The Society has a policy of writing off the cost of equipment as at the date of purchase. Equipment currently held by the Society consists of minor items of agricultural plant and office equipment.

15

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

13. FIXED ASSET INVESTMENTS

LISTED INVESTMENTS (HELD AT MARKET VALUE)
Market value at 1 January 2020
Additions at cost
Sales proceeds
Gain on investment assets
At 31 December 2020
100% SHAREHOLDING IN SUBSIDIARY COMPANY (HELD AT COST)
Heather Farm Limited (100% Shareholding)
At 31 December 2019 and 31 December 2020
TOTAL
At 31 December 2020
At 31 December 2019		 £
372,512
-
(7)
38,811
411,316
1,489,786
1,901,102
1,862,298

The Listed Investments are held in the McInroy & Wood Balanced Fund. The book cost of investments at the year end was £357,443 (2019: £357,450).

14. DEBTORS

Trade debtors
Prepayments & accrued income
Amounts due from subsidiary		 2020
£
54,200
20,572
12,218
86,990		 2019
£
55,595
12,237
-
67,832

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Social security and other taxes
Other creditors
Accrued expenses		 2020
£
1,626
12,836
2,150
16,612		 2019
£
2,504
3,350
2,150
8,004

16

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

16. MOVEMENT IN FUNDS - CURRENT YEAR

Brought
Forward
01-Jan-20
£
RESTRICTED FUNDS
SANG 1
149,092
SANG 2
(19,778)
Higher Countryside Stewardship
-
129,314
Brought
Forward
01-Jan-20
£
DESIGNATED FUNDS
Designated Land Reserve
1,074,278
Designated Investment Fund
1,489,786
Land Acquisition Reserve
100,000
Legal Contingencies Reserve
50,000
2,714,064
Brought
Forward
01-Jan-20
£
GENERAL FUNDS
General Fund
572,077
572,077
SUMMARY OF FUNDS - CURRENT YEAR
Brought
Forward
01-Jan-20
£
Designated funds
2,714,064
General
572,077
Total unrestricted funds
3,286,141
Restricted funds
129,314
3,415,455		 Income
£
463
54,200
25,312
79,975
Income
£
-
-
-
-
-
Income
£
162,938
162,938
Income
£
-
162,938
162,938
79,975
242,913		 £
(4,396)
(66,774)
(8,304)
(79,474)
£
-
-
-
-
-
£
(89,181)
(89,181)
£
-
(89,181)
(89,181)
(79,474)
(168,655)
Expenditure
& Transfers
Expenditure
& Transfers
Expenditure
& Transfers
Expenditure
& Transfers		 £
-
-
-
-
£
-
-
-
-
-
£
38,811
38,811
£
-
38,811
38,811
-
38,811
Investment
gains/
(losses)
Investment
gains/
(losses)
Investment
gains/
(losses)
Investment
gains/
(losses)		 Carried
Forward
31-Dec-20
£
145,159
(32,352)
17,008
129,815
Carried
Forward
31-Dec-20
£
1,074,278
1,489,786
100,000
50,000
2,714,064
Carried
Forward
31-Dec-20
£
684,645
684,645
Carried
Forward
31-Dec-20
£
2,714,064
684,645
3,398,709
129,815
3,528,524

17

HORSELL COMMON PRESERVATION SOCIETY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2020

17. MOVEMENT IN FUNDS - PRIOR YEAR

Brought
Forward
1 Jan 2019
£
RESTRICTED FUNDS
SANG 1
156,046
SANG 2
(30,406)
Higher Countryside Stewardship
-
Freewheel Project
10,070
135,710
Brought
Forward
1 Jan 2019
£
DESIGNATED FUNDS
Designated Land Reserve
1,074,278
Designated Investment Fund
1,489,786
Land Acquisition Reserve
100,000
Legal Contingencies Reserve
50,000
2,714,064
SUMMARY OF FUNDS - PRIOR YEAR
Brought
Forward
1 Jan 2019
£
Designated funds
2,714,064
General
489,032
Total unrestricted funds
3,203,096
Restricted funds
135,710
3,338,806		 Income
£
997
53,504
22,019
-
76,520
Income
£
-
-
-
-
-
Income
£
-
193,123
193,123
76,520
269,643		 Expenditure
£
(7,951)
(42,876)
(22,019)
(10,070)
(82,916)
Expenditure
£
-
-
-
-
-
Expenditure
£
-
(137,983)
(137,983)
(82,916)
(220,899)		 £
-
-
-
-
-
£
-
-
-
-
-
£
-
27,905
27,905
-
27,905
Investment
gains/
(losses)
Investment
gains/
(losses)
Investment
gains/
(losses)		 Carried
Forward
31 Dec 2019
£
149,092
(19,778)
-
-
129,314
Carried
Forward
31 Dec 2019
£
1,074,278
1,489,786
100,000
50,000
2,714,064
Carried
Forward
31 Dec 2019
£
2,714,064
572,077
3,286,141
129,314
3,415,455

18. RELATED PARTY DISCLOSURES

During the year trustees paid subscriptions to the charity at the standard members rate.

There have been no other related party transactions in the year.

During the year the charity received management charges of £Nil (2019: £25,000) and charitable donations of £82,449 (2019: £57,825), from the subsidiary company, Heather Farm Limited.

19. ULTIMATE CONTROLLING PARTY

There were no ultimate controlling parties during the year ended 31 December 2020.

20. TRADING COMPANY

On 28[th] November 2014 a wholly owned subsidiary company was formed called “Heather Farm Limited”, company number 9331836 Registered in England & Wales to develop and manage the remaining building at Heather Farm. At 31[st] December 2020 the Statement of Financial Position was £91,768.

18