**REGISTERED COMPANY NUMBER: 06758863 (England and Wales) REGISTERED CHARITY NUMBER: 1129177**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **FOR**
**HUBBARD'S HILLS TRUST (A COMPANY LIMITED BY GUARANTEE)**
Duncan & Toplis Limited Oxley House Lincoln Way Louth Lincolnshire LN11 0LS
**HUBBARD'S HILLS TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Statement of Financial Position**||7||
|**Notes to the Financial Statements**|8|to|13|
|**Detailed Statement of Financial Activities**||14||
**HUBBARD'S HILLS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The objectives of the charity are set out in the charity's trust deed and are summarised as follows:
"To preserve, enhance and conserve the physical and natural environment and its natural beauty for the public benefit in and around the parkland known as Hubbard's Hills, Lincolnshire, an Area of Outstanding Natural Beauty and to promote and encourage facilities in the interest of social welfare for recreation, sport and leisure time occupation with the object of improving the conditions of life for those living and working, visiting or residing in the Hubbard's Hills area."
Our aims are geared to further the vision of the founding Trustees in 1907 and to ensure the long term viability and vitality of the parkland, so that the outdoor facilities will be available for the public to enjoy all year round, free of charge for the next century.
Our key objectives for the year 1 April 2022 to 31 March 2023 were:
- To maintain Hubbard's Hills to a high standard
- To ensure that it is a safe and welcoming environment for all, whatever their age and ability, race or creed
- To continue, in the spirit of the gift to the town, not to charge for use of the facilities
- To improve the fabric of the Hills
- To research and appoint a fundraiser
- To build a website
- To engage the local public in building a sustainable future for the park
- To work with partners to extend the educational possibilities of the site
- To improve the bio-diversity of the chalk stream by keeping the river in good condition
- To encourage more people to enjoy the facilities all through the year
- To continue to work to restore Hubbard's Hills
Page 1
**HUBBARD'S HILLS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities, achievements and performance**
The Trustees have, in carrying out this review, considered the Charity Commission's general guidance on public benefit.
The parkland is open to visitors all day, every day, all year and kept in a clean and tidy condition throughout the year so as to encourage visitors to respect the environment.
We are working to sustain the chalk stream which flows through the glacial valley, one of only 161 in the country, and to improve the biodiversity of the river which not only supports a unique eco-system but also is home to the endangered water vole. Interpretation boards have been added to encourage greater knowledge and greater interest in the facility.
We have carried out necessary maintenance work to sustain the beech woodland which clothes the glacial valley, which in March 2010 was classed as a Local Wildlife site as part of the Lincolnshire Biodiversity Partnership programme. The Partnership identified Hubbard's Hills as "a woodland habitat with parkland, bracken and running water." Additional features were listed as veteran and pollarded trees, planted specimen trees, standing and fallen dead wood, abundant nectar sources, structural diversity, bare ground, rock outcrops and steep slopes. They state that sites such as Hubbard's Hills are wildlife-rich areas that have been identified and selected for their nature conservation value and are amongst the best places for wildlife in Lincolnshire and represent the local character and distinctiveness of the county. Hubbard's Hills are already listed on the Local Authority Local Plan as a Site of Nature Conservation Importance.
We seek to encourage full enjoyment of the outdoor space by the disabled, particularly wheelchair users, by keeping paths in good condition with adequate room for chairs. Adequate wheelchair space is provided next to seats too.
We aim to continue to encourage all ages to get healthy exercise and fresh air by walking through the Hills and we are pet friendly with all the area open to dogs, both on and off the lead. However we discourage horse riding and cycling in the beauty spot so as not to pose a danger to pedestrians, particularly the very young and older visitors.
We have been working to encourage school children from all over Lincolnshire and beyond to use the Hills as an educational tool for mathematics, history, geography, geology, biology, botany, reading and writing reports. Two members of the Trust regularly give guided tours to local schools, pointing out all aspects of the wooded valley and its history. Children use the chalk stream to measure and chart water speed, oxbow lakes and meanders too, as a glacial overflow channel they also learn about climate change and the Ice Ages. They also learn the important lesson that they must respect and support the countryside and the living world and they learn to deal with the dangers of water in a safe environment.
We have brought in a maintenance management scheme to encourage wild flowers to grow round the edges of the grass to encourage more insects and butterflies to the site.
We have incurred expenditure this year in relation to responses to vandalism and further erosion of the site.
## **Public benefit**
The charity meets the definition of a public benefit entity.
The charity has complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.
## **Social investments**
Since its inception the Trust has worked in partnership with Louth Town Council, who earmark monies in their annual budget towards the running of the Hills. In the past the District Council has provided support and advice as has Lincolnshire County Council's Footpaths Officer. Louth United Charities has provided financial assistance. The Lincolnshire Wolds Countryside Service has been invaluable in giving help and advice, particularly the Chalk Streams team.
Local businesses have also been very supportive offering their services and invaluable advice at reduced rates. All work in the Hills is offered as a matter of course to local contractors in the first instance.
Page 2
**HUBBARD'S HILLS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Strategies**
The Trust seeks to ensure Hubbard's Hills continues to be an accessible and welcoming natural park both for public enjoyment and as an educational facility. The Hills are open to all people at all times, every day of the year.
The Trust has a long term strategy to ensure the restoration of the woodland to its former glory, to add to the existing tree stock and to improve facilities whilst respecting the original ethos of the gift of the Hills to the people of Louth. To ensure this is successful the Trust is mindful there must be prudent financial management with adequate reserves for both capital projects and day to day maintenance.
The Trust seeks to engender a love of the natural parkland which can be shared by the generations, ensuring the long term viability of the Hills. Educational visits are positively encouraged and at least one member of the Trust is always available to show young visitors round to explain its geographical and historical context.
## **STRATEGIC REPORT**
## **Financial review**
## **Reserves policy**
The Trustees have established a reserves policy in which all monies not committed or in tangible fixed assets (free reserves) held by the charity should be sufficient to ensure the charity is able to function in the event of a significant drop in income. The free reserves must, as a minimum, ensure the costs of maintenance is covered for 12 months.
In order to fulfil the strategies set by Trustees, and in the light of rising costs, it is felt the level of free reserves needs to be increased.
After taking account of the tangible fixed assets fund of £16,672 (2022: £19,821), the free reserves as at 31 March 2023 amounted to £95,711 (2022: £85,824), of which £51,107 has been designated by the trustees for future land acquisitions.
The total reserves at 31 March 2023 amounted to £112,383 (2022: £105,645).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Hubbard's Hills Trust is constituted as a charitable trust, registered with the Charity Commission on April 16 2009 under charity number 1129177. It is governed by a Deed of Trust signed in April 2009.
## **Recruitment and appointment of new trustees**
When East Lindsey District Council returned responsibility for the maintenance of the site Louth Town Council agreed to devolve the task to a charity which primarily would have the ability to draw down funding not available to local government. Initially, and in accordance with Charity Commission advice, four town councillors agreed to take on the role of Trustee and this was matched by a similar number of Trustees representing user groups, including the disabled and all age groups.
All Trustee positions are voted on and confirmed at the charity's annual meeting and three members, in rotation, come up for re-election at this meeting.
Meetings of the Trustees are held regularly and are always attended by our finance officer. It was agreed given this officer is a professional accountant they are not full members of the Trust and have no voting rights.
The Memorandum and Articles of Association states that serving Trustees shall recommend and approve all Trustee appointments. The process for appointing Trustees is required to take into account personal competence, specialist knowledge and skills as well as community representation.
## **Organisational structure**
The Trustees are solely responsible for the general control and management of the charity. They give of their time freely and receive no remuneration or other financial benefits.
The Trustees meet regularly and are responsible for all decisions taken in relation to running the Hills. To assist in the smooth running of the Trust each member of the Board has a designated role and reports back to the meetings with recommendations on specific issues.
The weekly maintenance of the parkland is undertaken by a local contractor whose work schedule is overseen by the Chairman, having been budgeted for, and agreed, by Trustees.
Page 3
**HUBBARD'S HILLS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Induction and training of new trustees**
Following their appointment all the Trustees were introduced to their new role and given copies of the Trust Deed and a guide to the role and responsibilities of being a Trustee, in line with Charity Commission Guidance. This ensured that every Trustee was aware of the scope of their responsibilities under the legislation.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
06758863 (England and Wales)
**Registered Charity number** 1129177
**Registered office** c/o The Mansion House Upgate Louth Lincolnshire LN11 9ET
**Trustees** Mrs L A Cahalin Retired (resigned 3.8.22) Mrs M W Finch Retired P M Beaumont Sales person M J Moncaster Branch manager D E Wing Retired A G Dunning Retired A Leonard Restauranteur Cllr G M Makinson-Sanders Self employed R S Edmonds Retired
**Independent Examiner** Rachel Barrett FCCA Duncan & Toplis Limited Oxley House Lincoln Way Louth Lincolnshire LN11 0LS
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
..............................................................................
A Leonard - Trustee
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HUBBARD'S HILLS TRUST**
## **Independent examiner's report to the trustees of Hubbard's Hills Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Rachel Barrett FCCA
Duncan & Toplis Limited Oxley House Lincoln Way Louth Lincolnshire LN11 0LS Date: .............................................
Page 5
**HUBBARD'S HILLS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
48,082
Investment income
2
-
**Total**
48,082
**EXPENDITURE ON**
**Charitable activities**
3
Costs of charitable activites
41,344
**NET INCOME/(EXPENDITURE)**
6,738
**RECONCILIATION OF FUNDS**
Total funds brought forward
105,645
**TOTAL FUNDS CARRIED FORWARD**
112,383|Restricted
fund
£
-
-
-
-
-
-
-|2023
Total
funds
£
48,082
-
48,082
41,344
6,738
105,645
112,383|2022
Total
funds
£
49,146
1
49,147
66,389
(17,242)
122,887
105,645|
|---|---|---|---|
The notes form part of these financial statements
Page 6
**HUBBARD'S HILLS TRUST**
## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
9
16,672
**CURRENT ASSETS**
Debtors
10
1,582
Cash at bank
99,514
101,096
**CREDITORS**
Amounts falling due within one year
11
(5,385)
**NET CURRENT ASSETS**
95,711
**TOTAL ASSETS LESS CURRENT LIABILITIES**
112,383
**NET ASSETS**
112,383
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
-
-
-
-
-
-
-|2023
Total
funds
£
16,672
1,582
99,514
101,096
(5,385)
95,711
112,383
112,383
112,383
112,383|2022
Total
funds
£
19,821
1,396
89,028
90,424
(4,600)
85,824
105,645
105,645
105,645
105,645|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A Leonard - Trustee
The notes form part of these financial statements
Page 7
**HUBBARD'S HILLS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
- the requirement of paragraph 33.7;
- the requirement of paragraph 24(b) of IFRS 6.
## **Income**
All grant income and donations are recognised in the Statement of Financial Activities once the charity charityhas entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Unspent grants and donations are shown on the Balance Sheet as unrestricted funds.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.
## **Governance costs**
Governance costs represent costs that are directly attributable to the management of the charity's assets, organisation administration and compliance with constitutional and statutory requirements.
## **Allocation and apportionment of costs**
In undertaking the charitable activities there have been support costs incurred that, whilst necessary to deliver an activity, do not themselves produce or constitute the output. Support costs include the central office functions such as general management, payroll administration, budgeting and accounting, information technology, human resources and financing. Support costs are therefore wholly allocated to the charitable activities.
## **Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% reducing balance Computer Equipment - 3 years straight line
## **Taxation**
The charity is exempt from corporation tax on its charitable activities. The charity is not VAT registered therefore, all costs include VAT where applicable.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trusteestrustees. There is a designated fund held in unrestricted funds in relation to future land acquisitions.
Restricted funds can only be used for particular restricted purposes within the objects of the charitycharity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
continued...
Page 8
**HUBBARD'S HILLS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Investments**
Current asset investments are short term highly liquid investments and are held at fair value. These include cash on deposit and cash equivalents with a maturity of less than one year.
## **Heritage assets**
Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices.
Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweighs any benefit to the users of the accounts then heritage assets are not recognised on the balance sheet.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **2. INVESTMENT INCOME**
|2023
£
Deposit account interest
-
**CHARITABLE ACTIVITIES COSTS**
Direct
Support
Costs (see
costs (see
note 4)
note 5)
£
£
Costs of charitable activites
38,811
2,533
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
2023
£
Insurance
1,526
Telephone
330
Grass cutting
2,700
Litter collection
9,000
Skip hire
2,660
Maintenance work
9,444
Toilet costs
4,005
Trees
3,625
Printing and stationery
380
Sundry costs
220
Storage costs
1,000
Vandalism
772
Depreciation
3,149
Loss on sale of assets
-
38,811|2022
£
1
Totals
£
41,344
2022
£
1,546
330
2,475
7,150
2,764
19,194
1,416
16,124
713
83
1,000
454
3,498
73
56,820|
|---|---|
## **3. CHARITABLE ACTIVITIES COSTS**
## **4. DIRECT COSTS OF CHARITABLE ACTIVITIES**
continued...
Page 9
**HUBBARD'S HILLS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **5. SUPPORT COSTS**
|||Governance||
|---|---|---|---|
||Finance|costs|Totals|
||£|£|£|
|Costs of charitable activites|86|2,447|2,533|
|Support costs, included in the above, are as follows:||||
|Bank charges||2023
Costs of
charitable
activites
£
86|2022
Total
activities
£
30|
|Legal fees||120|7,609|
|Independent examination fees||2,327|1,930|
|||2,533|9,569|
|**NET INCOME/(EXPENDITURE)**||||
|Net income/(expenditure) is stated after charging/(crediting):||||
|Depreciation - owned assets||2023
£
3,149|2022
£
3,498|
|Deficit on disposal of fixed assets||-|73|
## **6. NET INCOME/(EXPENDITURE)**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
49,146
Investment income
1
**Total**
49,147
**EXPENDITURE ON**
**Charitable activities**
Costs of charitable activites
66,389
**NET INCOME/(EXPENDITURE)**
(17,242)
**RECONCILIATION OF FUNDS**
Total funds brought forward
122,887|Restricted
fund
£
-
-
-
-
-
-|Total
funds
£
49,146
1
49,147
66,389
(17,242)
122,887|
|---|---|---|
continued...
Page 10
**HUBBARD'S HILLS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
fund
£
£
**TOTAL FUNDS CARRIED FORWARD**
105,645
-
**9.**
**TANGIBLE FIXED ASSETS**
Plant and
Computer
machinery
equipment
£
£
**COST**
At 1 April 2022 and 31 March 2023
32,523
5,354
**DEPRECIATION**
At 1 April 2022
12,702
5,354
Charge for year
3,149
-
At 31 March 2023
15,851
5,354
**NET BOOK VALUE**
At 31 March 2023
16,672
-
At 31 March 2022
19,821
-
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
£
Prepayments
1,582
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
£
Trade creditors
3,185
Accruals and deferred income
2,200
5,385
**12.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.4.22
in funds
£
£
**Unrestricted funds**
General fund
54,538
6,738
Future land acquisition
51,107
-
105,645
6,738
**TOTAL FUNDS**
105,645
6,738|Total
funds
£
105,645
Totals
£
37,877
18,056
3,149
21,205
16,672
19,821
2022
£
1,396
2022
£
2,608
1,992
4,600
At
31.3.23
£
61,276
51,107
112,383
112,383|
|---|---|
continued...
Page 11
**HUBBARD'S HILLS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
Future land acquisition
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**
A current year 12 months and prior year 12 months combined position is as
**Unrestricted funds**
General fund
Future land acquisition
**TOTAL FUNDS**|Incoming
Resources
Movement
resources
expended
in funds
£
£
£
48,082
(41,344)
6,738
48,082
(41,344)
6,738
Net
movement
At
At 1.4.21
in funds
31.3.22
£
£
£
71,780
(17,242)
54,538
51,107
-
51,107
122,887
(17,242)
105,645
122,887
(17,242)
105,645
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
49,147
(66,389)
(17,242)
49,147
(66,389)
(17,242)
follows:
Net
movement
At
At 1.4.21
in funds
31.3.23
£
£
£
71,780
(10,504)
61,276
51,107
-
51,107
122,887
(10,504)
112,383
122,887
(10,504)
112,383|
|---|---|
continued...
Page 12
**HUBBARD'S HILLS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
**----- Start of picture text -----**
|||||
|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted funds|
|General fund|97,229|(107,733)|(10,504)|
|TOTAL FUNDS|97,229|(107,733)|(10,504)|
**----- End of picture text -----**
The trustees have deemed the future land acquisition fund to be a designated fund since the funds utilised were allocated from existing funds, rather than being donated for a particular purpose.
The prior year accounts incorrectly classified this as a restricted fund. This has now been rectified.
## **13. CONTINGENT LIABILITIES**
The charity has received numerous grants since incorporation. A number of conditions have been imposed on the grants. Breach of any conditions may see the grants wholly or partly repayable.
The trustees are not aware of any breach of conditions.
## **14. RELATED PARTY DISCLOSURES**
G M Mackinson-Sanders is a Trustee of Hubbard's Hills Trust and also a Councillor on Louth Town Council. The Trust received a grant of £45,000 (2022: £45,000) from Louth Town Council during the year, to assist with the costs incurred by the Trust. None of the Trustees have voting rights when matters in respect of the Hubbard's Hills Trust are discussed by Louth Town Council. At the year end the balance outstanding from Louth Town Council was £nil (2022: £nil).
## **15. ULTIMATE CONTROLLING PARTY**
The controlling party is the board of trustees.
## **16. CONSTITUTION**
The company is limited by guarantee and does not have any share capital. The guarantors, whose liability is limited to £1, are the Louth Town Council and Wilkin Chapman LLP.
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**HUBBARD'S HILLS TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 MARCH 2023**|||
|---|---|---|
||2023|2022|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|2,210|4,146|
|Co-op Community Fund|872|-|
|Louth Town Council grant|45,000|45,000|
|**Investment income**|48,082|49,146|
|Deposit account interest|-|1|
|**Total incoming resources**|48,082|49,147|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Insurance|1,526|1,546|
|Telephone|330|330|
|Grass cutting|2,700|2,475|
|Litter collection|9,000|7,150|
|Skip hire|2,660|2,764|
|Maintenance work|9,444|19,194|
|Toilet costs|4,005|1,416|
|Trees|3,625|16,124|
|Printing and stationery|380|713|
|Sundry costs|220|83|
|Storage costs|1,000|1,000|
|Vandalism|772|454|
|Depreciation of equipment|3,149|3,498|
|Loss on sale of tangible fixed assets|-|73|
|**Support costs**|38,811|56,820|
|**Finance**|||
|Bank charges|86|30|
|**Governance costs**|||
|Legal fees|120|7,609|
|Independent examination fees|2,327|1,930|
||2,447|9,539|
|Total resources expended|41,344|66,389|
|**Net income/(expenditure)**|6,738|(17,242)|
||||
This page does not form part of the statutory financial statements
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