## **(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**
- Membership has grown significantly in 2020.
- There has been a much higher footfall on the common during lockdown and many more people have come to appreciate the benefits of a walk in the woods and across the open heathland
- Despite drawbacks of the pandemic investment has been made in a new car park area increasing the capacity by 57 spaces
- in keeping with this " green" credentials investment has also been in an array of solar panels that will virtually make Heather Farm electrically self-sufficient
- 4 EV charging points have been installed in the Heather Farm Car Park
## **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:-
- (1) The ownership provision and preservation of Horsell Common and other commons and open spaces for:-
- (a) informal open air recreation and enjoyment by the public at large;
- (b) the protection of the environment for future generations;
- (c) the protection and management of habitats for all flora and fauna living on such commons and open spaces; and
- (2) Such other charitable activities or charitable undertakings as may in the opinion of the trustees promote and assist such objects.
## 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:
- Restoring priority heathland habitat
- Managing plantation conifer in clearfell rotation for SPA bird interests where public use and economic viability allow
- Removing any invasive non-native species such as rhododendron, laurel and bamboo
- Preserving and building the deadwood resource to benefit invertebrate and bird communities
- Applying appropriate thinning to control light levels to ground flora to preserve valuable vascular plant communities
- Leaving natural woodland processes to influence the character and succession of woodland habitats by applying a policy of minimal intervention where appropriate
- Carrying out ride management to benefit vascular plant and invertebrate communities especially Lepidoptera species
- Protecting open sandy banks and path edges for invertebrate interests, especially solitary bees and wasps
- Bracken, scrub control & glade creation
- Preserving & protecting the best examples of veteran trees
-
## **2. Scots pine woodland to the north of the Sand Pit has been thinned**
- Impact:
- Better growing conditions for the remaining trees and more light reaching the ground flora
## **3. Insect surveys have been carried out in the Sand Pit and on Horsell Birch and McLaren Park**
## Impact:
- Provides baseline information on insect diversity that can be related to the habitat and site management and used for future planning
## **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:
- Removal of this invasive non-native plant allows native plants to grow and reduces riverbank erosion in the winter
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:
- Provides less muddy access for people walking round the meadows
## **6. The car park at Heather Farm has been extended and charging points installed for electric cars** Impact:
- An extra 57 parking spaces, including an extra 3 for disabled drivers and the installation of 6 electric car charging points
## **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:
- Tree work completed in late winter 2020. Further work to provide flood relief ponds will be done during the summer.
## **8. Volunteer work parties organised in January – March and September – October** Impact:
- Birch, gorse and pine scrub removed from heather areas to maintain the open heath habitat
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:-
- To reserve an amount equal to the book value of the freehold land the charity holds, to show that these monies are not readily available general funds (£1,074,278)
- to hold the investment in Heather Farm Ltd as a separate reserve to show that these monies are not readily available general funds (£1,489,786)
- to reserve sufficient capital to meet the cost of land acquisition and acquiring access rights to protect the common and secure and enhance its charitable objectives (£100,000)
- to reserve a fund to meet legal costs arising when action is required to protect our charity and its land holdings (£50,000)
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:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principals in the Charities SORP;
- Make judgements and accounting estimates that are reasonable and prudent; and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
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:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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