06608621
Wlckham Community Land Trust
A Re8lstsred Charity and Company Llmlled by Guarantse
Annual Report and Flnanclal Siatements forihe year ended
31 Mar¢h 2022
Company Registrallon Number: 06608621
Registered Lharbry Number. 1134897
RegF5tered Office:
The Old Post Office,
5tstlon Road,
Wickh•m. Hampshlre.
P017 SJA

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Re8. No-. 06608621
Charity Nurnber.. 1134897
Contents
Page
Dirertorg Report
1-15
Auditorfs Report
16-20
Staiefflent uf Coiiiprehensive Income
21
Statement of Financlal Position
22
Statement of Cash Flow5
23
Statement o*Changes In Reserves
24
Note5 to the Financial Statements
25-34

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Finan¢lal Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Nurnber= 1134897
DIRECTORS, REPORT
Thé directorg present their a#nuAI rp.port and the financial statÈments for the year ended 31 March
2022.
I. PURPOSES OF THE CHARir
1.1 Purposes as set out In Wickham Commun5ty Land Trusvs governln8 document
The charitV5 pufpp•C4 are At out in the objects in thg Company s Memorandum of Assnrintinn a
follows..
The provision of so¢ial housing and housing to relleve financlal hardship,. and
To promote Such other charitable purposes as may from time to time be determlnad subl•ct
to the prior written consent of the Charity Commission.
Wlckham Community land Trust IWCLTI Is ttedicated to the provision ol affordable housln8 111
Wlckham to relieve the financial hardship of eligible beneficlaries living in the village. surrounding area
or with employment in the area,. holding the property for the long tefrn public good and protecting it
from the damaging effects of asset Price inflation and speculation and thereby enabling the provision
or affordable hou51ng now <ind fuT >ubs¥4uriiL syii¥i"•t10175. INote: (Note." Jince the year cnd, the civil
parish of Wickham has been re-named Wlckham and Knowle", the boundaries of which are co-
terminus wlth those of Wickharn parish at the grant of the Trusvs charitable status. All references in
thls report and future references to "Wickham- theyetore relate to the parish of ￿l£kharn and
Knowle").
1.2 Summary ol activities In support of the purposes
M¢llldxe the bu5iiiess of the Trust In $uch manner a5 tts cover costs artd, as a not-for-profit
organisation, to re-invest for malntenance of the properties
Maintain and run our properties In such a waythatthey can remain a long-term publ1¢ benefit,
contributing to the sustainability of this community
Manage the on.going movement of resldent5 irilv dllLI uut of the propertles 50 that the homes
remair¢ a tr)enefit tn thn%g* whn Qualify to occupy them on grounds of need
Malntain the affordable nature of the accommodatlon
Retain the freehold of the properties In accordance wlth the charitable aims of WCLT to
provide asset lock
Pursuv uppo¥tunitie5 to further meet WCLT'S charitable ob5ectives through the provision of
additional affordable homes In the vicinity, working in cfroperation with Wlnchester City
Council and Homes England
Monitor and review the charltvs performance against its charitsble objectives on a regular
basis.

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial 5tstements for the year ended 31 March 2022
Company Re8. No.. 06608621
Charity Number.. 1134897
1.3 Summary of A¢tlvStles In relatlon to publlc benefft
WCLTS main focu5 Is on providing housing for those who cannot afford from thclr own
resources to buy or rent è home on the open market
The housing of those liwn8 in sf(uations inadequate or unsultable for their needs, regardless
of their age, sex, marital status or any other differentiator
The housing of farnllles1Svlng in overcrowded cunditions by virtue of inabillty of young adults
to find alternativp xffr)rdable homes
Housing those who lose their open market rental homes because of sale or increased rent
The housing of key workers serving the local area
Provision of housing to a number of households with local connection enabling them to
receive support from thelf families le.g. chlldcarel OT to provide support to family members
who need help le.L to elderly relative51
Shorterjourney times for those resident5 wlth work in the local area.
WCLT is not aware of any detriment or harm arlslngfrom the Organlbatluri's itirrib.
1.4 Benefft to a section of the publlc
The publicwhich benefits from our work Is made up ola cr955 settlon of il¥E ¥rUU￿ Ulldblt fi.om their
owrt resources to afford a home on the open market.
r housin
Selection criteria for applicants include housing need, inability to afford propertyto buy or to rent on
the open market, the abilrf(v to meet thè affordable rentlmortgaee oirtgnin&% on a WCLT home,
suitability of the homes WCLT ha5 available to meet the applicants, need5 and local connedlon (see
Geographical Restrlction below).
Geo
ra
l Restriction
WCLT serves the geographical area of Wickham In Hampshire, its adjoining parishes and the
administrative area of Wlnchester City Council, in that order of Priority. Yeing an attractive village
within reach of rhree cltle5. Wlnchester, PorLsrriuuLli aiid Southampton, Wlckham's house p¥lces, both
for piirchas• and rpnt, arp high and beyond the means of rnany people from this speclflc vicinity whg
W15h to be able to live in the community from which they comè or in which they work.
1.5 Id¥iiiilyi118 Public Benefft
The impact of our achievement goes wider than those families we house, and ￿$ public benefits
Include the followin8=
A redurtlon in the number of people seeklng affordable housing in the area
A reduction in local barriers to housing
An increase in housing stock available for affordable homes
Increased availability of local accommodatlon tor key workers seiving the local area

Wickham Communlty Land Trust
A Registered Charity and Company Lirnited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
A redurtion in distances between home and workplace for people working in the area
The retention of assets within the local communityfor public benefit, provlding a long-term
asset lock.
1.6 Prfvate benefit
No-one receives any piSvate benefit from WCLT.
1.7 Oirectorf Publk Benefrt Statement
The Dirertors of WCLT confirm that in dr¥wln8 UP thi5 report thèy have been aware of their duty to
report on public benefit and have pald due regard to the Charlty Commission's guidance in this
respect.
1.8 Contrlbutlon made byvfAunteers
WCLThas no employees. All work undertaken by directors and our part-time bookkeeper. Mrs Brenda
Fattow, Is undertaken on a vuluntary basis.
1.9 Addltlonal Informatlon
WCLT employs a Managin8 Agent for Its rental properties. While the selection process of suitable
eli8iblg pgrsons to occupy its properties remains under the control of WCLT, once that process is
complete the Managing Agent deals with the collection of rent and service charge and manages
repairs. However, WCLT remains closely involved In managementlssues and dlrectly manages the
shared ownership propertles.
2. ACHIEVEMENTS AND PERFORMANCE
2.1 QuantltatSve and Qualltatlve InlorniatSon
In this financlal yeaf the number housed by the Trust increased to 24 individuals (adults and children)
who qualify under the categories outlined in 1.3 above. There were no change5 in tenant occupatlon
dui"iii8 th¢ year, and there were, tlicrcftsre, no void perSods.
Feedback from our residents ￿MaInS consistently appreciative.
2.2 Meelltw the Soclal Housin8 Re8ulatorfs Stsndards
Dlrectors continue to use the Regulatorfs Economlc and Consvrner Standlirds as poiiit5 of reference
for meaduring OUT servlce4•livgry.
2.2.1 Governance and Fi
anclal Viabili
Standard WCLT 's Code of Practice and Flnancial
Viability, based on the standard. 5et5 vul the fundarylentsl values whlch underpln
WCLfs practlce and ensures that it Al m@ets the Regulatorfs standard and bl conducts

Wl¢kham Community Land Trust
A Registered Charity and Company Llmited by Guarantee
Trustees, Report & Flnancial Statements forthe year ended 31 March 2022
Company Reg. No.. 06608621
Chartty Number.. 1134897
it5 business In an effertive, transparent and accountable manner. The 8oard certifies
its compliance with the standard during the course of 202112U22.
2.2.2 Valu
for Mone
Standard
The WCLT Board regularly reviews all areas of its operation to look at opportunities for
reducing costs or securing additional Income in line with its value for Money Pollcy.
The voluntsry time of Board Members in funning the or8anl$3tion "hands on. is a kev
contrfbutor to constraining costs a5 WEII as providin8 a responsive service- examples
inrliidp nijr finAnr.sal and administrative returns. lettings. m3na%ement of shared
ownership properties, financial management and reporting. The Board recognises that
as WCLT grows additional paid administrative and financial resources wiii be required
and future projects include financial provSsion for such additlons.
The Board recognises that mainienance costs are Increa51ng a5 properties dLquired In
2012 aBe and has increased budgetary provislon in Its plans for future years.
In April 2018, the Regulator of Social Housing in published new standards to Registered
Provlders by which tD e5t8bllsh cownparative Value for Money metrics. While these are
a ii<pfiil tnnl gpngrxlly tho 803rd Is aware that the srnall number of properties WCLT
owns mean5 they have to be used with caution and broad comparisons are not reliable.
The following were agreed as relevant by the Board, and we present our performance
evaluation against each parameter..
2021122
10.281
2.97
£4,671
0.25
o.oi
2020121
10.261
Metric 3 GearinB
Metri¢ 4
EBITDA Mfii lTrtere5t cvvEI
Metric 5 Social Housing cost (per 8 units owned)
Metric 6 Operating Margin
Metric 7 Return on Capital Employed
0.26
£7,182
0.30
o.oi
Metrics l and 2 - Reinvestment and New Supply - were not used as there was no
relevant activity in these periods. Metric 4 was low Ir the prevlous year beL41u&e Llie
Tru=t incurred significant expenditur• in rolation to the a¢qiiisitinn nf arldittnnal housing
propertles which were not completed during the year. Ninety per cent of thls revenue
expenditure was covered by government grants but grants are excluded in calculating
this metric.
2.2.3 Rent
tandard.. whilst WCLT 15 exempt frorn thi5 Standard through its provision of
housing for intermediate rent. the Board refers to the Regulatorfs Guidellne Limit in its
rent review, as recommended In Ihe s￿riLl&ll1. 111 2021Izz WCLT applied rent incre&>¢J
between 0.5% and 1.25% to its intermediate rent properties and a 1.25% rise to it5
shared ownership properties in order to maintain affordability, although the Rent
Standard guideline would have allowed higher increases. The Trust was mlndful of the

Wickham Community Land Trust
A Registered Charity and Company Limrted by Guarantee
Trustees, Report & Flnancial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
eCor￿mi( straln on tenants, budgetsas a result of the pandemic and kept rent increases
to a minimum.
LL4 Home Standar
Quality of accommodation.. WCLT'S 8 homes meet the Government's Decent Homes
requlrement and dlsv 5u>Laiiiability Code 3 and Lifetime I lomes criteria.
Repalr5 and Maintenan¢e.. WCLT Is responsive to matters of ongoin8 repalr and
maSntenance.
2.2.5 T¥iidTIL Iliv
Ivviiie41t and I
owerment Standard
WC_IT r.onvened a meeting with resident5 on 30 November 2021 to disseminate
information, explain charges and to capture residents, vlews and respond to any of their
oncerns. More details are given at 6.4 below.
WCLT'S Managing Agent also Visits tenants in their homes. All tenant reviews remain
posltive and feedback in respect of WCLT perforrrance has also been positive. Those
tenant5 reaching the completion of Their slxth year In rE51deriLe IidV¥ i¥1 ièwed their
tenancies. WCLT will continue to take accDunt trf tenants, views In monitoring Its
performance as a landlord.
oumood
In managing its current portfolio WCLTworksto g¢X)d effect with Hyde Group, Wickham
Community Association and Wickham Parish Council in respect of grounds
maintenance, street lighting, the access road and community issues and with
Win¢hester City Council and Wi¢kham Festival organisers.
LdllLldl
2.2.7 T
nanc
Stsn
ard A¢though as a provlder of intermediate homes WCLT is exempt from
this standard WCLT still retain5 its current tenancy standard as a useful guide and
operationjl rcfcrence point In relation to t•nancies and tenanry rpvlp.vj processÈs.
2.3 Athlevements agaln5t oblertlve5 set
The objettives forthe period 2020 2022 were approved bythe Board in September ?niq. Satisfactory
oroRre5s was achieved in all the ongolng managemènt objectives and steady progress was made
towards the acquisition of 10 new properties in Wykeham Vale. It was planned that these home5
would become available durlng the findllLl¢il year but delays in construction encountercd by the
developfjr Icroudace Homes I tAI x< x rp.%ult Of the pandemic, loss of workers returningto the EU after
Brexit and supply constraints meant that there were no completion5 during the year. The properties
will become available in FY 2022123. All arrangements to finance the purchases, however, were
Loinpleted during the year, as anticipated in the report foT the previous year. Loan fin8nrp was
arranged in Drincirjle with Triodos Bank Ilong-term loan) which supplemented grant funding from
Winchester City Council and South Downs National Park, the remainder coming from reserves, most
notably b005ted by a £250.000 donatlon from the estate of a local businessman. The necessary
documentation to complete the purr.hases and the financial underpinning was all completed before
the year end. The Trust has participated with the developer and Aster Homes Ifroffl whom the
properties will be purchased) in regular project progress meetingsthroughoutthe year. Relations with

Wickham Communlty Land Tnjst
A Re8lStered Charlty and Company Limited by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
these parties has been consistently cordial and constructive ensuring that quality of construction and
finish is expected to be to the Trust's specification when eventually completed. As noied In 2.2.2
above, e reventje grant from the Community Housing Fund throu8h Homes EnEl¥nd covered mijrh cjf
the pre-development costs incurred by the Trust but had not been fully utilised bv vear end and $0 a
repayment of the money unused was nece55ary in the early part of the following year. The Trust will
pay the necessary costs Incurred as a result uf the repdYiri￿Iil, Out of reserve5, boosted 25 they have
been by the significant donation received during the year, withoutleopardising in any way the Tru5t'5
flnancial security.
Much wurk WdS LufTipleLvLJ dui iii¥ tlie yea¥ in termJ of financial modcllins tts ¢n4ure that the new
homes to be purchased in Wykeham Vale could be financed without over-straining financial resources
and especially to model incorne from rent on these home5 in accordance with the terms of the 5106
which require5 the home5 to be let at no more than Local Housing AIIDwance and thu5 be-affoTdablE-
accordlrig to Homes England requiTements. In that r*spect. to comply with Hnmp% England
requirements to register as eligible to ch8rge affordable rents, the Trust applied to be an investment
partner in the Wayfarer Consortium of organisations. Membership wa5 granted in February 2022
making the 1.rust parr of The con5C*rtlum'5 LvriLrdLI wiLlI P*uiiies England that runJ ￿ntil 2026.
In addltion togrowth and expansion objectivesthe 2021>2022 objertlves includethe intentto increase
the local profile of the Trust and although no action took place on these goals in the year, plan5 were
matje In outllnE dlktl d¥leVLI iv i)e c•rrsed out In the followin8 year.
WCLT will continue to monitor and review its achievements to ensure it contlnues to meet Its airns.
3. FINANCIAL REVIEW
The financial statements have been prepared In accordance with the Housing SORP 2018.
Under this SORP the capitrl Brant from Homes England used for the purchase of hnmp.s In Houglrton
Gardens, is classified as deferred Income in the Balance Sheetwith a proportion beingtaken each year
to the Income and Expenditure account.
A150, under thls SORP, the Income and Expenditure account is titlp.f4 thp. Statement of Comprehensive
Income and the Balance Sheet is called the Statement of Financial Position. In addStion, we have
included a Statement of Cash Flows.
The principal financial management poli¢i•s in force •re wri fE Fknxnr.ial Controls Policy, Monitorin¢
and Review Pollcy and WCLfs Reserves Pollcy.
3.1 Financlal p051tbon at thè end of the perlod
We are reporting a surplus for the yeaT of £5,34812020121 surplus of £7,780).
The Tnjst's operating performance In thls fin(Iniial year h65 been con5i5tent wlth prior years. The cosh
position at the end of the year was vgry strong as a result of grant income unspent during the year
and the cash donation made in the previous year that is still held in our accounts. The surplus was

Wickham Commltnity Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees. Report & Financial Statements for the year ènded 31 March 2022
Company Reg. No.. 06608621
Charity Number.- 1134897
planned to be lower through the payment of a deposlt1£205,ocKII or* the purchase of 10 homes in
Wykeham Vale, Wickham betore year end butthis payment fell just outside Ihe Flnanclal Year, In Aprll
'22. Thg Sums ar* carried forward irt anticipation of thp tr¥n%xrtlnn bp.ing completed successfullv
during FY 2022123. The deposit amount is half of the total grant agreed with the Council towards this
projert, the remaSnder due on practical completion of the units.
Cash has remained high during the year as a ￿SuIt of the delays in completlng the purchase of
homes In Wykeham Vale.
>.2 Reser¥
WCLT 's Reserves Policy states the Trust's Intention to hold reserves to the equivalent of at least 6
month5, of normal operating costs Sn order to..
ensure continuity In meeting the needs of beneficiarles and the Charitls flnanclal
obllgations
pn%urp the Charity can bridge cash flow problems in Deriods of chan£eover whe
benefltlaries leave or move into properties or rental income drops at such times
maintain and develop Its charitsble artivities.
In line wlth Charlty Commission guidance thi5 poll¢v was reviewed in July 2021 and will be reviewed
annually.
As at 31 March 2022 the Trust held reseNes of £351,85112020121.. £346,503). The reserves held at
the end of the Financial Year are the equivalent of 113 months, operating expendltLITe.
3.3 Principal Fundlng Sources
3.3.1 Lenders in the periotl were as follows..
Charlty Bank
Winchester City Council
Hyde Group
3.3.2 Donatlons..
None
3.4 Rental Incom•
3.4.1 Rental Income from the four rental properties has provided a steady Income throughout the
financial year. There were no void periods.
3.4.2 Rèntal Income from shared ownership homes also provided a Stea0￿ income.
3.5 Expendlture
3.5.1 WCLT has continued to be cautlOU5 Wlth its expenditure and at the end of the period finantes
remained healthy. Our budgeting reflects increased maintenance costs. Otherwise,

Wlckham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
expenditure in this financlal year has been predominantly on administration, legal and
financing fees and Insurance and the Trust continues to track closety to its original financial
model.
3.5.2 Legal costs regarding the Wykeham Vale project were incurred and represented the most
significant single operatlng cost to the Trust. These costs will continue into the followin8
year but will have to be met from reserves as a resuli of the closure of the Communlty
Housing Fund.
3.5.3 All payments are governed by WCLT'S Financlal Controls Policy and 3ny repayment of
expenses to directors is made according to the re8ulations laid down in that policy.
3.6 Risks
3.6.1 The Trust, by the very nature of its business model, is dependent on rental revenues
nd ort external finance, and will thu"
remain exposed to potential increases in
nterest rates. Risk Appraisa15 constantly review the situation, but by the end of the
financlal year it was becoming clear that interest rates would rlse, led by changes to
Bank of England base raTe. Lendlng arrangements m¢ide wiLlI Tiiudv) Bdiik regai"diiig
Wykeham Vale prope.rty pÈJrchasÈs are at 3.0% above base rate. Continuous modelling
condurted during the year demonstrates that existing and new busines5 can stlll return
5urplu5es even at base interest rates rising up to circa 2.0%. Above that level it may be
iieLe55ary to di3CU35 remedial arransemert$ with lendcr5
3.6.2 Succession planning features in the Trusys regular risk appraisal.
3.6.3 Plans for future involvement in other Sltes (see 3.10 below) a150 feature within our
regular assessment of risk.
3.6.4 The impart of the Corona viru5 pandemic on our tenants has been closely monltored
and support offered to thern should the need arise. The Trust 55 pleased to report that
no issues arose during the year or in the months followlng Sts close.
3.6.5 The voluntary affordable homes sector 15 dependent on support from the government.
The Trust has benefitted in paqt ypArg from the availability of the Comrnunity Hous&ng
Fund ICHFI. The Trust has continued during the year to try to persuade the government
to expand provision of grants for which it might be eligible but in view of the worsening
econofflic clSmate it is unlikely t9 See a positive result.
3.6.6 The Government has absolved Community Land Trusts from the riEhtto buy thataffects
other forms of affordable houslng provider. If this were to change it would impact the
Trust's charitable objects and so this rlsk Is constantly under review.
3.7 Investment
As part of the origin31 loan terms with Charity Bank, WCLT has £8,443120120121.. £8,4?Al In a
Charity Bank Deposit Arcount. Although Charity Bank has been sufficiently satisfied wlth the
soundness of WCLfs performance to lift this condition WCLT chooses to retain thi5 deposit.
3A FundroSsin8 artlvStles
WCLT has not undertaken any active fundraising in the course of thls financial year.

Wickham Communlty Land Trust
A Registered Charity and Company Llmlted by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No= 06608621
Charity Number: 1134897
3.9 Event$ subsequent to thls report period
3.9.1 The two rent revièws ¢ond(trted In the year. oné for the rental proport1•s and one for thsb
shared ownership homes, were conducted in the last quarter of this report period, with
implementstion following in the subsequent reportlng period.
3.9.2 nie Trus1 lTrti) ¥iii¢ied iiilo a purchase contract with Aste¥ Home5 for tht purchase of the 10
homes in Wykeham Vale and looksforward to allocating deserving tenants to the properties
in 202V23.
S.IV Vlans for the forthcoming yeaf
n addition to the ongoing management of WCLfs existing properties, the Trusvs activities in
202212023 wfill be heavily influenced by progress on projects to expand its portfollo of affordable
hornes.
3.10.I CoTnpletion of arrangements to purchase 10 homes In the Wykeham Vale projett. The
opportuniry for The TfiJsT TO be Involved has been well 5upport¥d by tlit IuLÈtl duLliuriLvi
the developer and the RSI. purr.hasing the majority of affordable units together with
Triodos Bank 50 that ai year end the final Steps in negotiations were under way and
fulfilment of these is expected In the months irnmediately following the year end.
3.10.Z Di>ius>iyii> ¥vltli both WinGhe3ter City Countil and I lomes InslDnd to develop option-
for
WCLfs acquisition of 20 further homes on a Horne5 England site at Knowle, nearwlckham,
were flagged in last yearfs report. The Trust will continue to pursue these in the next
period.
3.10.3 WCLT has continued its ex¢Èllent Wctrking arrangements wSth developerslhousing
association5 bidding for involvement in the above sltes.
3.10.4 At each step of the way, WCLT carefully appraise any financial and viability risks involved In
these new openlngs
3.10.5 WCLT has addressed issues of staling ijp to A*xl wlth thp.qp. PDtpntial developments and
recruiting extra trustees to cover Increased workload andlor to employ a member of staff
to asslst with the increased admSnistrative work.
3.10.6 The Trust wlll be mountin8 a catnpaign to Inform more widely Ioc31 people of the Trusys
work. start a "friends" of WCLT group and encourage donations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
4.1 Governiffd Document
Wlckttam Community Land Trust IWCLTI 15 reglstered In England and Wales 05 d CviTIPdliY Liniited bv
Guarantee with charitable aims, with the governing documents beSng Memorandum and Artlcles of
Associatlon. It was reglstered as such on 2nd June 2008
4.2 LÈgal Deflnltlon of a Community Land Trust under Housing & R•8eneratlon Act 21x18
WCLT meets the legal defIn￿lOn of a cOmrnun￿y land trust as defined by the Act.

Wlckham Community Land Trust
A Registered Charity and Company Limlted by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
4.3 Members and Membership
Sub5criber5 to the Mew¥Torandum and Artlcles of Association were the fir$t members of the Charity.
Membership is open to other individuals or organlsations who apply to the Charity in the form
required by the Dirertors and who are approved by the Dlrectors. The Board hopes to recruit new
members in this way as part of its succe￿10n planning.
There is one cla55 of membership.
Person5 Wlth Significant Control.. WCLT keeps a register in which to record such but at present the
POSltion is Nll.
In accordance wlth our Confllcts of Interest Policy all directors are required to complete annually a
Register ol Interests.
There have been no changes to the composltion of the TnFSt Board during the year.
Any local authority appointrnents should be malfitalned at less than 20% of the total board. There are
currèntly no LA appointm*nts rgpr•$4nt•d on the Board.
4.4 Dlrector Induction, Trainlng and development
Dircrtors are provided with a Trustee Role Description 3nd ask•d to S*8n a Trustee Code o* Condurt
and to cornplete a Declaration in respect of Individual Voluntary Arrangements, bankruptcy and
unspent convictions. All directors have a copy of the Charity Commisslon publication Yhe Essential
Trustee.. what you need to kno￿. Updates In the Charlty Cofflwni55iOll'5 New)l¥ii¢fS are dl55emlnated
to Directors during the year.
Suitable opportunities for development throu8h attending courses, conferences or serninars are
Identified and supported at Board level.
4.S Or8anlsa¥onal and Structural Matters
4.5.1 Day to Day Manageme
The day-to-day managpment of WCLT is undertaken either by an executive committee or by
the Housing SLtb-comm￿ee. The executlve committee consists of the Chairman, Nicol
Holladay, the Company Secretary, Anthony Raymer, and the Vice Chairman, Geoffrey
Pliillpott5, Wlth involvement of the Financial Director where relevant. The Housin8 Sub-
Cornmittee is made up severally ()f Geoffrey Phillpotts, David Thornpson, Christopher Cook,
Jane Isaac and Wendy Greenish to deal with individual housing matters and the allocation
ot propertles and they are called upon on a more ad hoc basis dependlng on the skllls
required andtheirtime avallatJle. Otherdirectors accordingto theirskills and roles are called
on as per actlons agreed at meetings. Directors are regularly updated on current ISSUÈS at
the board Meetings and all major and poliry deci5ion5 are taken by the board.
io

Wickham Communlty Lanil Trust
A Registered Charity and Company Limited by Guarantee
Tru5tees' RepDrt & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
4.5.2 Code of Practlce WCLT has its own Code of Practice and Flnèncial Viability, based on that of
the Housing Regulatorfs Standard, which the Board deems appropriate to the organisation,
size 4nd role as 0 ntsn-profit rest5tered provtder.
4.5.3 Code of Governance has its own Code of Governance based on that of the Charity
CommlssSon. 80th thls and the Code above set out the fundamental value5 which underpin
WCLfs operatlon and agalnstwhich the Board can a$5ess the effectlveness of itsBovernance
arrangements and operation.
4.5.4 WCLT'S master ten¥ncy documents are In line with current legislation.
4.5.5 Asset Register WCLT manages Fts resources prudently to ensure its viability and actively
assesses and manages rssk. Whilst our properties have not been revalued In the accounts
(see accounting policy h) a valuation carried out in April 2018 at the behest of Charity Bank
showed that all the properties have a market value well In excess of cost and these market
values have been noted in the asset re8iSter.
4.5.0 Daia Protectlon: In Ilne wlth curreni leg151atlon on fjDPR WCLT ha5 audiied the dara It
handles. It has published its Privacy Policy and the Board receives a Data Protection report
at each meeting.
4.5.7 Rlsk Management Consideration of WCLT'5 Risk Appraisal is led by Trustee David Thompson
and embedded as a regular item in Board Meetings and the Board 15 satisfied that WCLfs
consideration of risk Is sufficiently informed to encompass ¢onsideTation of both internal
and external matters and that WCLT has complied wlth regulatory requirements to date and
will continue to do so In the foreseeable future.
4.5.8 Insurance: WCLfs cover provSdes for Directors, and Officers, Liability Insurance, Public 3nd
Products Liability Insurance, Property Owners, Llability Insurance and Buildings Insurance.
WCLT holds NHBC certification for all its eight properties.
4.5.9 Legal
il Now tonant$ ar• lttltlally offered our Starter Only Assured Shorthold Tenancy. and
progress to a five-year Fixed Term Assured Shorthold Tenancy after a satisfartory
probationary period.
Sil Shared Ownership Agreements are based on the Homes England Model Lease for
Protected Areas, wlth stai¥-casing restricted to 80%.
iiil Our tenancy agreernents are reviewed and endorsed by our legal advisers.
4.6 Relatlonships wlth related partles
4.6.1 Charlty Commlsslon: WCLT 15 o rcsi5tcrcd charity Irc614tr)tion 12th March 20101. WCLT
submits an Annual Return to the char￿tY Commlssion and is in receipt of its informative
Quarterly Newsletters.
4.6.2 Homes EnBland and Kegutator of social HOUSiII8- WLLI is registered as a non-profit pr*vate
re8lStered provider of social housin8 Wlth the regu13ting body. WCLT in tÈrms of reB￿lati￿n
counts as a small provider. A5 a Registered Provider WCLT reports to and re￿iVeS athjice
from the regulator and submits its Statistical Data Return under NRosh+.
4.6.3 WCLT, iliiuu¥li IL> uwii puliLy doLUI))èiits atid piocvsses, botli seeks to meet the re8ulato¢s
Economi¢ Standards and to reflett its Consumer Standards. These underpin WCLT'S
operations and throughout thi5 financial period WCLT has sought to maintain and review its
performance against these operating standards.
4.6.4 Hyde HouglnzAssoclatlon: Wtth WCLTownin8 It5 CLITrent portfolio of propertlco On o sharcd
site with Hyde Housing Association communication between us is important.
li

Wickham Community Land Trust
A Registered Charity and Company L4mrf(ed by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
il The working relationship between WCLT and Hyde's local housing management team Is
essence co-operative and effective.
ill communicaTlon wlth Hyde Group's centra115ed department5 can be more diffiiult. WCLT
strives to keep the channels of communication open and effectlve but 5ucce55 in
communication with Hyde Housing's Service Charge and Income Departments can be
patchy in respect of Estate Charges (see section 6 below.. Funds held a5 CUStodian
trustees)
4.6.5 Winchester Clty Council IWCC)
WCLT'S relationship with Winchester Clty Cot2ncil has strengthened further in the year
through its contributions To the local authorltvs communlry led housing initiatives. WCLT
continue5 to report to Winchester City Council and provide it with allocation dats on its
homes so that together wlth the zone agent, Radian Group (see Radi3n Group below), an
up.to-date picture of housing need in the area can be maintained. To comply with s106
arrangements covering Wykeham Vale, WCLT has submitted a revised Allocations Policy to
WCC in order to allow it to provide afftirdable home5 on that 5Ste. The revised polity has
been agreed and cayne into force during the year.
4.6.6 Radian Group.. WCLT Is party to a service level agreement with the Local HomeBuy Agent,
Radban, forhousing in WT*choster Civ5 district. As part of this. their onlln• prnpptywph%itp
for the area, originally HomesinHants and now "HelptoBuySouth", advÈrtlses WCLT'S
affordable homes. puts potential applicants in touch with WCLT and notifie5 WCLT of the
waFting Ilst for homes in the area. In turn WCLT provides Radian wlth WCLfs alloution data.
4 6.7 National CLT Notwork INCLT) WCLT is a member and both benefits from this membership
and actively support5 the NCLT in its work.
4.6.8 Infomiati¢>n Commlssloner and the Housift8 Ombudsman: WCLT is registered with the
former in respect of Data Protection and, a5 a providor of social housin& is registered with
the Housing Ombudsman Service.
4.6.9 Wl¢kham Parish Council., WCLT maintains its Ilnks wlth Wickham Parish Council with
communications with the Llerk tothe Parish Coun¢ii and Indlvldual counclllor5 and exhlbltEd
at the Parish Assembly in May 2020.
4.6.10 Hampshire Home Cholce: in order that the Trust can offer homes on Wykeham Vale to
qualifying tenants, its allocations and nominations policy has been revised to satisfy the
requirernents of the s106 agreement 8overriing iliE provision of affordable homes on the
itg. Int*r nllo. this required the Trust to sign up to advert15e affordable vacancies to local
people through Hampshire Horne Cholce.
5. REFERENCE AND AUMIN15TRATIVE DETAILS OF THE CHARir
Charlty N&me'.
Wickham COmm￿nity Land Trust
Charity Re8lstratlon Number:
1134897
Momes England Reg5stered Provlder..
4692
Company Registration Number:
06608621
12

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No= 06608621
Charity Number- 1134897
Re8lstered Office and operational address..
The Old Post Office,
Station Road Wlckham. Hampshire.
P017 SJA.
Correspondeno add￿55.
P.0. Box 739, Fareham, Hants, P014 9RH.
Board ol Dire¢tots.'
Mr. N. A. Holladay
Mr. G.5. Phillpotts
The Reverend A. J. smith
Mr. A. RayrnÈr
Mr. C. Cook
Mr. E. Fitzgerald
Mr. O.R. Thompson
Th• Reverend Janè Isaac
John the Bapt15t, Shedfield.
Mrs Wendy Greenish
Chairman
Vlce Chairman
Finance Dirertor
Director and Company Secretary
Nomlnee of Benefice of St. Nlcholas, Wickham and St.
ÈankÈrs.. Natwest $2 West Street. Farèham. Hants. P016 OJX
Le8al Ad¥Esers: Anthony Collins Solicitors LLP. 134 Edmund Street. Birmingham, B3 2ES
Audltors: Rothmans Audit LLP, Statutory Auditors and Chartered Accoyntants. Avebury House, St
Peter Street, Winchester, Hampshire, S023 8BN.
Chartered Surveyors.. Chandler Hawklns IPort5mouthl
Hon. Advlser: Capt A. R. Robinson, RN
ManagingAgent: Byrne Runciman, Estate Agents, The Square, Wickham, Hampshire, P017
SJT
6. FUNDS HELD AS CUSTODIAN TRUSTEES
6.1 WCLT levies certait) monthly rhArEp¢ from their tenants..
il ServSce charge5 for Maintenance and Sinking Fund together with an administrative and
accountlng costs fee
ill Estate ServSce Charge for grounds maintenance undertaken by Hyde Houssng and
payable LV LlieTTI vii iTivulL¢. Tliere 15 a collection fee &3>￿1￿ted with thi￿.
6.2 Ag custodian of funds held on behalf of others WCLT has two Client Accounts Into which to
deposlt sum5 rplated to il and 111 above..
il Sums related to the Genoral_£p.rvice Charges and Estate Service Charges are Dald into
current account.
13

Wickham Community Land Trust
A Registered Charity and Company tsmitod by Guarantee
Trnstees, Report & Financial Statements for the year ended 31 March 2022
Cornpany Reg. No.. 06608621
Charity Number.. 1134897
ill Contributions collected for the Sinking Fund are placed in an interest-earning Business
ReseNe Account.
6.3 General Service Charge. WCLT, In its review of rents and servlce charge5 in February 2020
declded again to increase the levy rate for Sinking Fund to allow for inflation at 1.7%. This
Increase of the General service Charge came into effect from May 2021.
6.4 Estate ServSce Charge:
6.4.1 WCLT continues to have a le5S than straightforward Wofking relationship wlth Hyde
on the matter of these charge5 anLI arrangemenTS, though eventually belng reSDlved,
have remained eomplicated by the diffl¢ulty of reaching appropriat@ staff
6.4.2 As in previou5 years, arrangements with Hyde Housing In respect of Estate Service
Charges have not run 5rn00thly desplte constant efforts. Neverthele55, the Trust
makes adequate provisions to meetthe charges which eveniuèlly Bre commLtnlcared
to us and aftér various corrections that need to be made, annual costs arp. agreed
and paid. We regard that, after several years, experience, budget5 are predlctable,
provisions are adequate, and expenditure is under financSal control.
7. CONCLUSION
WCLT has enjoyed a period of consolidation and frustration. The Tnjst has concentrated on managing
its properties as well as ptssslble for the individual residents and with regard to the long-term aims of
the Trust. But ftU5trdtiDn hd) beEii iaused by the delays in completion and pur¢h•se of the 10 homes
Sn Wykeham vale, for reasons covered above.
From a sound flnanclal base, WCLT has been able, however, to rnaintain Its interest Sn the new
prciperties and these wt55 come into the CLfs possession in FY 2022123. WCLT'S involvement in
communitv led housinR will remain crucial to this community because it is able to accornmodate local
people in perpetuity. The addition of the 10 homes on the site tl) the Trust's portfolio is a major step
forward in the growth of the service to local people In need that remains at the heart of the Trust'5
objertives.
WCLT is very grateful for the support of local people and those organisations with which we have
worked over the las[ few years. We partlcularly dppreL141le Llie dl)LJ sometimes special w¢rklng
relationshlps with these 5UPPOrtive organisations.
Slncere thanks are also due to the dsrectors who have given their time and expertise generoLssly and
voluntarlly to Push WCLf5 Bv41s forward. WCLT 15 grateful to those diTectors who are keen tts
contlnue into next financlal year.
STATEMENT OF DIREcfoRS' RESPONSIBIUTIES
The direttors are responslble for preparing the Annual Report an¢J the flnancial Statements in
accordanrB with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
14

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Finan¢lal Statements for the year ended 31 March 2022
Company Reg. No-. 06608621
Charity Number.. 1134897
Company law requires the directorsto prepare financial statements for each financlal year which give
a tnje and falr view of the state of affairs ot the c17aritab5e cornpany and of the Incoming resources
and application of resourc&&, includin8 the income and expenditure. of th@ tharltable company for
that pefSod. In preparing these financial Statements, the dlrectors ère required to..
ensure continulty in meetlng the needs of beneficiarie5 and th¢ Charitl. flnancial
obligations
select suitable accounting policie5 and then apply them conslstentlv
obserne the methods and principles in the Housing SORP
mFke judgments and Cutimotco that or¢ readonable and prudent
state whether appllcable UK Accountin£ Standards have been followed, subject to any
material departures disclosed and explalned in the financial statements,. and
prepare the fSnancial statement5 ori the going concern basi5 unles5 It Is inappropriate to
pre4ume that the rharltable company will continvg in buslnoss.
The directors are responsible for keeplng proper accounting records that disclose with reasonable
accuracy dt <iriy tIlTie Lli¥ liiidllLldl yu>iLioii of tlie cliaritable company and enable them to enyure thèt
the financial statements comply with the Companies Act 2006, the Charities Act 2011, the HousinE
and Regeneration Act 2008 and the AccoL*nting Direction for private registered providers of social
housing in England 201Y. Ihey are also responsible for safeguarding rhe assets of the charltable
comp3ny and h*tr)c• fnr tAklng rpA<nn2hJp for the prevention and detection of fraud and other
irregularitles.
In 40 far as the dire¢tors are aware:
there is no relevant audit informatlon of which the charitable companls auditor is
unaware; and
the director5 have taken all step5 that ihEV uu8111 io have taken to make them5elve5
aware of any relevant audit information and to establish that the auditor 15 aware of that
informatlon
The dlrectors are responsible for the rnaintenanee and inte8rity of the corporate and financial
Informatlon included on the charitable companrfs website. Legislation In the United Kingdom
governing the preparation and dissemination of flnanclal ststements may dlffèr from legislation in
otherjLtrisdictions.
This report has been prepared in accordance with the speclal provlsions of Part 15 of the Companies
Att 2006 relating to small companles.
On behalf of the board.
Anthony Raymer
Dirprtnr 2nA fnmrjany Secretary
20 Septernb8r 2022
15

Wickham Community Land Trust
A Re8lStered Charity and Company Limited by Guarantee
Tru5tees' Report & FSnanclal Statements for the year ended 31 March 2022
Company Reg. No.- 06608621
Charity Number: 1134897
Independent Audltorfs Report to the Members of Wickham Community Land
Trust
Opinlon
We have audited the financial statements of Wickham Community Land Trust Ithe TfUSt'I forthe year
ended 31 March 2022 which comprise the statement of Consolidated Income, the Statement of
Financial Position, the Cash Flow Statement, the Statement of Changes In Reserves and notes to the
financial statements, including slgnlficant accounting policies. The financlal reporting framework that
has been applied In Their preparatlon Is appllcable Idw dnd Urilled Kiii¥duTTI ALLvuiiliii¥ Stsiiddids,
including Financial Reportine Standard 102 Th8 FinancialReportino Stondard opplicoble in the UK(Jnd
Republlc of Irelund (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the Trust's affairs as at 31 March 2022, and of its
income and expenditure, for the year then ended,.
have been properly prEpdrEd iri dLLvrddiiie willi Uiiit¢d Kin8dom Generally Aiopted
Accounting Practice,. and
have been prepared In accordance with the reqltirements of the Companies Act 2006, the
Housing and Regeneratlon Att 2008 and the Accounting Dlrertion tor private registerèd
prowderB of 60¢141 housin8 in En813nd 2019.
Basis for opinion
We ¢onducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our re5ponsibS1ities tsnder those standards are further described in the Auditorfs
re5ponsibilitles for the audit of the tinancial statements sertion of our report. We are independent of
the association in attordance with the ethical iequirements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other
ethical responsibllitles in accordance wbth these requirernents. We belleve that the audit evidence
we have obtained is sufficient and approprlate to provide a basis for our opinion.
Conclusions relatlng to going concwn
In 3uditing the flnanclal statem•nts. ￿ haw concluded that tho board's iiqp nf thp gning r.nntprn
basis of accountin8 In the preparation of the flnanclal statements is approprlate.
Based on the work we hove performed, wc have not identlfied any materi31 untertaSntles relatin8 to
events or condltlons that, individually or collectively, may cast significant doubt on the associatitsn's
ability to contintie as a going concern for 8 period of at least twelve months from when the financial
statement5 are authori5ed lor issue.
Our responsibillties and the responsibilities of the board with respect to golng concern are described
In the relevant sections of this report.
16

Wickham Community Land Trust
A Registered Charf(v and Company Limited by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number: 1134897
Independent Auditorfs Report to the Members of Wlckham Community Land
Trust (continued. .)
Other Informatlon
The Ilirector5 are responsible for the other information. The other information cornprise5 the
information included in the annual report,. other than the financial statements and our auditor's
report thereon. Our opinion on the financial ststements does not cover the other informatlon and,
exceDt to the extent othenvise explicitly stated in our report, we do not express anyform of assuTan¢e
concluslon thereon.
Our r&sponsibility is to read the other information and, in doing so, conslder whether the other
informatlon 15 materially inconsistent with the financial statements or our knowledge obtained in the
audit or otherwise appears to be materially rnlsstaied. If we ideiiLify 5ucli material in¢onslstencie5 Qr
apparent material misstatements. we are required to determine whether there Ss a material
mi5Statement In the financial Statements or a material misstatement of the other informatlon. If,
based on the work we have performed, we conclude that there Is a motemal m155LdLeFii¥iiI of thi5
other information, we are requSred to report that fart.
We have nothingto report in thi5 règard.
Oplnlon on other matter prexrfbed bv the Companies Art 2￿6
In our opinion, based on the work undertaken in the course ot the audit:
the information given in the dlrectors, report for the financial year for which the financial
statements are prepared is consistent with the financial statements,. and
the directors, report has been prepared in accordance wlth applicable legal requirements.
Matters on which we are requIr￿ to report by exceptlon
In the light of the knowledge and understanding of the Trust and Its environrnent obtained in the
course of the audit, we have not Identified materi41 misstatements in the dirertors. feport.
We havo nothingto report In respect ofthe followinR matterswhere the Companies Art 2006 requires
us to report to you if, in our opinion=
adequate accounting records have not been kept or returns a(Jequatp fur vui dudlt liave not been
received from branche5 not visited by us.. or
the financial statements are not in agreement with the accounting record5 and retums,. or
certain diselosure5 of direttors, remuneration specified by law are not rnade,. or
we have not reEEiv¢d dll the informotion and explanations we requsre for our aiidit. nr
the dirertors were not entttled to prepare the financlal statement5 in accordance with the small
companles reglme and take advantsge of the small companies exemption in preparing the
directors, report and lake advdllL¢l¥¥ vf tlie s1)iall compantes cxcmption from tho r8quir*ment to
p￿pare a strategic report.
In addition, we have nothing to report in respea of the fDllowlng matter where the Houslng and
Regeneration Art 2008 requires us to report to Yoii If, in tjur opinion..
a 5at15factory system of control over transartions has not been maintained.
17

Wickham Communlty Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No- 06608621
Charity Number: 1134897
Independent Auditorfs Report to the Members of Wickham Community Land
Trust lcontinued...)
Dlrertor< responslbllltles
As explained more fully in the director5, responsibillties statement set out on pages 14 and 15, the
directors Iwho are also the trustees of the charitable company for the purposes of company lawl afe
responslble forthe preparatlon of the flnancial statement5 and for being 5at15fied thatthey give a true
and f3ir view, 3nd for suth internal control as the directors determine are necessary to enable the
preparatSon of financial statements that are free from material misstatement, whether due to fraud
or error.
In preparin8 the financial statements. the directors are responsible for a55essing the Trusys ability to
continue as a going concern, disclosln& as applicable, matters related to going concern and using the
going concern basls of accounting unless the directors either intend to liquldate the Trust or to cease
operations, or have no reallstlc afternative but to do so.
Audltorfs respon51bllitle5 for the audit vf the financlal ststements
Our oblectives are to obtaln reasonable assurance about whetherthe financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to Issue an auditorfs report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
thatan auditconducted in accordance with ISAS IUKI will always detect a material mi5Statement when
it exist5. Misstatement5 can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to Infiuence the economic deci5ion5 of u5eTS taken
on the basis of these financial ststements.
The objectives of our audit, in respect to fraud, arè to Identlfy and assess the risks of material
misstaternF*nt of thp finxnr.ixl *txtp.mgntg due to fraltd. tD obtain sufficientappropriate audlt evlden
regarding the assessed risks of material misstatement due to fraud, through designing and
Implementing appropriate responses and to respond appropriately to fraud or susperted fraud
Identified during the audit. However, the prlmary responsibility for the prevention and detectlon of
fraud rests with both those charged with governance of the entlry and management.
In Identifyin8 a35¢5sing risk of materlal mlJJtstement in rejpert of Irre8ul&rftle5, ineludlng fraud
and non-compliance with laws and regulations, our procedures include the following..
The exTenT ro whlch the audlt wa5 con51dered capable of dvtertlns ITregularltle5 In£ludln¥ frdud
Our approach to identifying and assessing thè risks of material mi5Statement in Tespect of
irregularltles, Including fraud and non-compliance with laws and regulations, was a5 follow5..
TIIE gll¥d¥glTi¥iII y¥1 Liier rii&uied tliat tlie eii8a8emeiit team collettively had the appropriate
competence. capabilities and skills to Identlfy or recognise non-compliance with applicable
laws and règulations
We obtalned an ynderstsnding of the legal and re8ulatory frameworks that are appllcable to
the Tru9t and those law5 and re8ulatlons that had a dirott effect on the financial 5tAt•mpnts.
18

Wickham Community Land Trust
A Re8lStered Charity and Company Limited by Guarantee
Trustees, Report & Flnancial Statements for the year ended 31 March 2022
Cofnpany Reg. No.. 06608621
Charity Number.. 1134897
Independent Auditorfs Report to the Members of Wickham Communlty Land
Trust (continued...)
We focused on speclflc laws and re8ulation5 which we consldered may have a dirert
rnaterial effert on the financial statements orthe operations of the Trust, Including FRSIO2,
the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting
Direction for private reglstered providers of social housing in England 2019.
We assessed the extent of ct)mpliance with the laws and regulatlons identified above
through making enquiries of management and inspecting legal CL>rrespondence and the
Sdentified law5 and re8ulations were communicated within the audit tearn regularly anil the
team remained alert to instances of non-compliance throughout the audit.
We a55essed the susceptibilty of the companrfs financial statements to material
misstaternent, Including obtainin8 an understanding ot how traud might occur, by:
makin8 enqulries of management a5 to where they considered there was susceptibility to
fraud, their knowledge of actual. suspected and alleRed fraud- and
considerlng the internal controls in place to mitigate risks of fraud and non-compllance wlth
laws and regulatlons-
To address the risk of fraud through management blas and override of controls, we..
performed analytical procedures to identify any unusual or unexpecte(I relatlonships
tested journal entries to identify unusual transactions
investigxtpd th• rationale bÈhlnd SiEnificant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed
rocedures which included, but were not limlted to..
agreeing financial statement di5¢1osures to undertyinB supportlng documentatlon
reading the minutes of meetings of those charged with govemance
enquiring uf Illdlld¥viiiviiÉ as to actu61 and potential litl8ation ond clalms
reviewing correspondence with relevant regulators, including Hornes England and the
Regulator of Social Housing and the companvs legal advi50rs,' and
reviewed legal and professional expenditure incurred in the year.
There are inherent limitations in our audSt procedures descrlbeil above. The more removed that laws
and regulations are from financial transactions, the less likely It is that we would become aware of
non-compliance. Auditlng standards also limit the audtt procedures required to Identify non-
compliance with laws and regulations to enquiry of the directors and other management and the
inspection of regulatory and legal correspondence, If any.
Materlal misstatements that arise due to fraud can be harder to dètert than those that arise from
error as they may involve deliberate concealment or collusion.
A further de5criptlon of our responsibilitie5 for the audlt of the fTrnan£ial statement$ is located on the
Financial Reporting Council's webslte at: www.frc.org.uklauditorsresponsibilities. Thi5 description
forms part of our audltor's report.
19

Wickham Community Land Trust
A Re8lStered Charity and Company timited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number= 1134897
Independent Auditorfs Report to the Members of Wickham Community Land
Trust (continued...)
Use of our Report
This report is made 501ely to Wickham Communlty Land frusys members, as a body, in accordance
with Chapter 3 of Part 16 of the Cornpanies Art 2006 and sectSon 137 of the Housing and Regeneration
Act 2008. Our audit work has been undertaken 50 that we might state to the Trusys members those
matters we are required to state to them In an auditor's report and for no other purpose. To the
fvllest extent permitted by law, we do not accept or assume responsibility to anyone other than the
a55Dliation and the Trust'b IiierTibers as a body* for our audit work, for thi5 report, or for the opinions
we have formed.
29 September 2022
Susan SullNan FCA (Senior StstutoryAudltorl
For and on behalf of
Rothmans Audit LLP
Chartered Accountants and Statutory Audttors
Avebury House
6 St Peter Street
Winchester
Hampshire
S023 8BN
20

ckham Community Land Trust
A Registered Charity and Cornpany Llmlted by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charlty Number: 1134897
Statement of Comprehensive Income
For the year ended 31 March 2022
2022
2021
Nole
Tumover
Operating expenditure
50,427
137,3711
72,925
157,4571
OpcrFJtin6 Surplus
13.056
15.ÈW
Interest receivable and other income
Interest PdV¢ible dnd financing costs
18
17,7261
75
17,7631
IDeficltllSurplus oft ordinary xtlvltles before tixa*iL
Taxation
5,348
7.780
IDefidt)ISurplus forihe year and tthal comprehensive income
14
5,348
The results relate wholly to contlnulng artivities.
The accompanylng notes form part of these financial statements.
The financlal statements were approved and authorlsed for i55ue by the Dirertors on 20 September 2022 and
signed on their behalf bv
Nicol Holladav
Chairman & Directoi
Geo
Dir
rey
illpotts
21

Wlckham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
Statement of Financial Position
As at 31 March 2022
31 M•r¢h
2022
31 Mar¢h
2021
Note
Flxed assets
Tangible lixed assets
686,253
698,555
Curr¢nt assets
Prepaid expenses
Cash at bank and in hand
3,969
531,572
535,S41
3,748
523,128
526,876
Cnditors - Amounts fallin8 due within one
vear
{226,5261
121,2481
Net current assets
309,015
505,6Z8
Tot31 aÈs•ts less curr•nt Ilabiliti•s
995.268
1.204.183
Creditors - Amounts falllng due after more
than one year
Provisions for Ilablllties
io
Ibi4J491
1847.7071
13
111,0681
19,9731
Total Net asset5
351,851
346,503
Reserves
ncome and expenditu￿ reserve
14
35L851
346,503
Total Reser
351,851
346,503
These accounts have been pr¥bpared in accordance with the provisions appllcable to companies subje¢t to the
small companies, regime.
The financial statements were approved and authorised fnr issue by the Directors on 20 September 2022 and
are slgned on their behalf bv
Nicr)I
ada¥
Chairman & Director
Geo
Dir
potts
ctor
Thc notes on pages 25 to 34 foyrn part of these accoiints
22

Wickham Community Land Trust
A Registered Charlty and Company Limited by Guarantee
Trustee5' Report & Financial Statements for the year endèd 31 March 2022
Company Reg. No.. 06608621
Charity Number: 1134897
Statement of Cash Flows
For the year ended 31 March 2022
Note
2022
2021
Net cash generated from operating artivlties
15
17.452
11,7741
Cash Flow from Investln8 Artl%rfties
Interest received
i¥
25
Cash Flow from Flnancing Artlviiles
Grants and donations received
Interest pald and other finano costs
11,3001
17,7261
22,095
17,7631
Npt r.hange in cash and cash equivalents
12,583
Cash and cash equivalents at the start of the year
523.128
510,545
-h cqylvalente 3t thè ond of thg y•ar
53LS72
523.128
23

Wickham Community Land Trust
A Registered Charlty and Company Limlted by Guarantee
Trustees, Report & FinancSal Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number= 1134897
Statement of Changes in Reserves
In¢ome and
expendlture
reseNè
Total
At l April 2020
Surplus for the year
Total comprehensl¥e income
At 31 March 2021 and l Aprll 2021
Surplus forthe year
Total comprehenslve income
At 31 March 2022
338,723
7,780
7.780
346.503
5,348
5,348
351.851
74.998
263.725
263.725
338.723
7,780
7.780
346.503
24

Wlckham Communf(v Land Trust
A Registered Charity and Cornpany Llmlted by Guarantee
Trustees, Report & Financial Statements for the year efided 31 March 2022
Company Reg. No.. 06608621
Charity Number: 1134897
Notes to the Financlal Statements
l. Account5ng polle5es
al Legal 5totus
Wickharn Community Land TTUSt is registered undèr the Companies Act 2006 as a company Ilmited bv
guarantee incorporated in England and Wales. It is registered with both the Charity Commission and Homes
England as a Registered Provider and Is a public benefit entity- Its registered office Is The Old Post Office,
ststion Road, Wickham. Hampshire, P017 51R
bl Bt7sis oApreporatii
The financial statements have been prepared
under thè historic rost conventSon
on the going concern basls
in accordance wlth the Stst¥ment of Recommended Practice for soclal housing providers known as
the Hoiisln8 snRP ?.ni8
in accordance with the Accounting Dlrettion for private reglstered providers of soclal houslng in
England 2019
iii accordance with the Charitlc.. Act 2011
in accordance with applicable UK Generally Accepted Accounting Principles (UK GAAPI accounting
standards, including Financial Reporting Stèndard 102 IFRS 1021
in accordance with the Companies Acts 2006.
The financlal statements are presented in sterllng which is the functlonal currency of the Trust ar¢d are rounded
to the nearest pound.
As the Company Is a charity, the wording of the ststutoryformats requlred by the Companies Act 2Q06 has been
appropriately amended in older to give a true and fair vlew.
The principal accounting policles adopted In the preparation of the financial statements are set out below.
cl Significuntjudgements
In applying the various accounting policies relevant to social landlords, the trustees have determiTt¥d to
careguii5E LI1￿ l)ou5es owned by the fixed a4sets rather th•n Snvestm#nt prnpprtips. As suth they are
shown at cost rather than market value. As house prices have risen slnce the houses were acquired bythe trust
thSs means that they are shown in the accounts below market value.
dl KtyAs5UmPtions t7nd sources olestimation uncertointy
The trustees considerthat there are rio signifiont area5 of uncerthinty in the assumptions they have made that
would be likoly tn rxiiw_ a matèrlal change to the carrylng value of any assets or liablllties over the next year.
25

Wlckham Community Land Trust
A Reglstered Charity and Company Lirnited by Guarantee
TfUStees' Report & Financial Statements forthe year ended 31 March 2022
Company Reg. No: 06608621
Charity Number: 1134897
A¢countin8 pollcles fcontAnued}
el Funds structure
Unre5trirted funds are available for use at the dixretlon of the Tru5t¢es In fvrtherance of the general
objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purpose5.
Restricted funds are subjected to rèstrlctions on their expenditure Smposed by the donor or through
the terms of an appeal.
fj rurnover
Turnover comprlses rental income receivable in the year, service charges receivable in the year and Incomefrom
shared ownership first tranche sales. Income from flrst tranche sale5 is recoEnised at the polnt of legal
Completion of the Ale.
gl Expenditure
Expenditure Is recognised on an a¢cruals basls.
h) fix¢d ussCt5
Housing properties
The company holds four properties available for rent and four properties available for shared ownership.
Fixed assets are stated at cost less accumulated depreciation.
Dpprprlutit
Freehold land is not deprecFated.
The company separately identities the major component5 whl¢h comprfse Its hDU51n¥ Plu￿rtIeS Oiid charses
depreciation so as to write down the cost of each component to its estimated residual value. on a 5traight-line
basis, over its estimated useful economic life.
The company depfeclatpq thg rn3jor component5 of its housing proDertles over the following timescales
Structure
100 yebrs
60 years
20 years
30 years
15 years
30 years
20 years
30 years
Roof
Kltrhpn
Bathroom
Boiler
Heatlng System
Windows & Doors
Electrics
26

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees. Report & Financial Statement5 forthe year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
l. Account5ng pollcles (continuedj
Impolrment
Impairment review5 are carried out as and when evidence romes to light that the recoverable amount of a
functional fixed asset is below its net book value due to damaRe. obsolescence or other relevant factors.
il Shured ownershlp properties
Shared ownership properties are spllt proportionally between curfent and fixed assets based on the element
relatins to firyt tranche sales. The first tranch9 proportion is classed as a current 35g•t rplAtpA %2lp rbrnrppd¢
included in turnover and the remaining element is classed as fixed assets and included in housing properties at
Cost, less any provisions needed for depreciation or Impalrment.
11 So¢lo1 Housing Gnint
Social housfng grant ISHGI is receivable from Homes England. Under SORP 2018 the company has adopted the
accruals model for the recognition of government grant and is required to account for such grants as defer￿d
Income and to take a portion ot the grant to Income each year. (Jrants relating to housing propertle5 are
recognised in income on a systematic basis over the useful economic Ilfe of the housing property structure.
kj ikbtors Lredltors due wirhin one Year
Debtots and creditor5 ￿CeiV4b1e or payable whhln one year, and with no stated interest rate, are initially
recorded * transactlon price and are subsequently measured at the undiscounted amount of the cash or other
consideration expected to be pald or received.
IJ Loans und borrowing5
Loans and borrowing5 are initlally recognised at rhe transactlon prlce In£ludlngtran5attion cv&l>. Subsequently
they are measured at amortised cost uslngthe effective interest rate method, le55 impairment.
The Trust Is Sn receipt of two loans with interest rates below the prevailing market rate of interesr. These loans
are not repayable on demand and are for the purposes of furthering the objectives of the public benefit entity
or publlc beneflt entity parent anil are therefore accounted for as concessionary loans. These loans are initially
measured at the amount received and in subsequent years the carrying amount of these loans is adjusted to
r¥flELI dfiy dLLrued interest payable.
mj Provision5for Lit7brlitles
Provisions are recognised when the Trust has an obligation at the balance sheet date as a result of a past event,
it is probable that an outnow of econornic beneffts wlll be requlred In settle￿1￿[7L diid ili¥ diiivuill Laii be ieliablv
estimst8d.
27

Witkham Community Land Trust
A Registered Charity and Company Limlted by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 066Q8621
Charlty Number= 1134897
2. Income and Expenditure from So¢lal iettlt
2022
zozi
Turnover
Interrnediate rental income
Shared Ownership rental income
Hornès England grant taken a5 Income
Homes England revenue grant
Charges for support seNlces
31,697
14.215
3,700
11,3001
2,115
31,408
13,987
3.7
22,045
1,785
50,427
72,925
Expendlture
Malntenance costs
Insurance
Void costs
Property Management Costs
Other co
13,3741
14,1601
16,6661
14,1861
12,6621
127.1751
12,6381
137,3711
157,5471
Rental income is stated net of identifiable seNlce charges.
3. Inknrest recelv4ble and other in¢•m¢
2022
2021
Interest receivable
Insurance claims
Donations & grants received
18
25
4. Surplus on ordinary actmtles
This is stated after charging..
2022
2021
AudttTrr'5 remuneration-for audit services
AiJditDrfs remunèration- non-audlt SerVi￿S
Depreclatlon
3,948
360
12,302
3,924
564
12,302
28

Wickham Community Land Trust
A Registered Charity and Company Llmlted by Guarantee
Trustees, Report & Financial Statements forthe year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
5. Taxatlon
As a charitvi WCLT 15 exempt from tax on Income and gains fallin8 Wlthin seuion 505 of Ihe Taxes Act 1988 or
$256 of the TaN3tion of Chargeable Gain5 Act 1992 to thp pxrpnt thxt thosg_ arp. applied tD its ch3ritable objècts.
No tax charge5 have arisen in the Charity.
Key m#na8em¢nt personnel rcmuneratlon and tmployèOS
Key management personnel neither recelved nor waived any remuneratlon durSng the year.12021: £nill. The
charity had no emplgyees In the current or previou5 year.
7. Tangible fixed assets
Freehold Land and
Bulldings-
Interniediate Rent
FreEhold Lar￿ and
8ulldlngs-
Shared Ownershlp
Total
Cost
At beginning of year
Addition5
495.￿7
310.166
805,173
At eiid of year
495,007
310,166
205,173
Depreclatlon
At beginning of year
Charge for year
166,8731
17,7161
139,7451
14.5861
1106,6181
11?.4021
At end of year
174,5891
144,3311
1118,9201
Net l)ook vulue
At 31" March 2022
420,418
Z65,835
686,253
At 31° March 2021
428.134
270.421
698.555
The above assets, Wlth a net book value of £686,253 are pledged as security agaln5t the Twst's loans.
29

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees. Report & Financlal Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charity Number: 1134897
& Prepaid expenses
Z022
2021
Insuran￿ costs
Other
3,879
3,660
88
3,969
3,748
9. Creditors- Amounts falllng due within one year
2022
Z021
Bank Loans (note 121
6,687
7,191
3,948
3,700
205,000
Other creditors
Accrued expenses
Deferred income from Homes England grant
Deterred grant from winchester Clty CuuriLII
7.128
3,816
3,700
226,526
21,248
10. CredltOFS- AnK•unts falliTrJ due efter more than one year
2022
2021
Bank loans (note 121
Loans from other instStutions Inote 121
Deferreil income from grants (note 111
217,022
84,794
330,533
224.171
84,302
539,234
847.707
I he loans from orher Instltutlons illv LVTiLvssSon6ry loans with interest ratci bclow the
prev3ilinE markèt rAtp.
30

Wickham Community Land Trust
A Registered Charity and Company L4mlted by Guarantee
Trustees, Repgrt & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
11. Deferred Grant Income
2022
20Zi
At l April
Received in the year
Rele¢ised LG illLDrne iii yE(11
542,933
546,633
At 31 March
Amounts to be reled5ed wlLlilri l yedl
Amounts to be released In mnro than l yr
208.700
3,700
12. Bank loans and loans from other Instltutlon5
2022
2021
Due within one year and on demand
Due after one ygar but l•ss than two y•ars
Due after two years but less than fwe years
Due after more than five years
6,687
6.942
22.455
272 418
6,604
fi.fi5E7
21,630
308,502
315,077
The aggregate amount of debt secured upon the intermedlate ￿ntaI properties and the share of shared
ownership properties retsined by the trust is £308,502
The loans bear interest in the range of 0% to 3.75%. The Instalment loan is repayable over 25 years and as at 31
March 2022 £272,418 of Instalments were due after more than 5 years.
13. Provlslons for Ilabilhles and ¢haryes
2022
2021
Provision forfuture overhaul
11,068
9,973
Provisions for Ilabilities and charges comprise of amounts Set aside for the future overhaul of the propertles.
31

Wlckham Community Land Trust
A Reglstered Charity and Company Limlted by Guarantee
rrustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charity Number.. 1134897
14. Reserves
Unrestrlued senerol
reserves
TDtal rE5EFVE>
Balance a5 at l Aprtl 2021
Surpluslldeficitl for year
346,503
346,503
5.348
At 31 March 2022
351,851
351,851
15. St*ement of Cash Flows from Operating Artlvities
2022
2021
Surplus for the year
Adlu5trnent fDf nDfi-L8s11 Items
np.prpciation
Increase in defe￿ed income
Amortisation of government grant
Ilncrea5el in prepayments
IDaer•2sellincreas* In cr@ditors
IDecreasel in loans
Increase in pmvlslons
Adjustment for investlng and financing ?ctlvity
Interest payable and other finance costs
Grants repaid/lrecelvedl
Interest received
5,348
7,780
12.302
12,302
13,7CQI
12211
195
16,5751
1,095
13,7001
171
16,4271
1,095
7,726
1,300
1181
7,763
122,0951
1251
Net cash generated from Operating attivities
117,4521
11,7741
15a Analysls of changes In net debt
2021
Cash
Flows
Other
thanges
2022
Luri¥ lerm borrowings
315,077
315.077
16,5751
16.5751
308,502
308,502
Cash and cash equivalents
Total net debt
1523,1281
18,4441
1208,0511 115,0191
1531.5721
1223,0701
32

Wickham Communlty Land Trust
A Reg19tered Charity and Company Limited by Guarantee
Tru5tees' Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06508621
Charity Number.. 1134897
16. Attommodatlon In management
At the end of the year, accommodation in management for each type of property was as follows:
2022
2021
Shared own•rship
Intermediate rent
17. Company Ilmlted byguarantee
Wickham Community Land Trust is a company limited by guarantee and has no share capital. A5 at 31st March
2022 there were 9 Ininel members. Every member promises, it the Company is wound-up, to contribute such
sum (not exceeding £10) ès may be demandèd of hlm or her towards any deficit.
l& Dlrector Infomiatlon
No remuneration was paid to the Dlrertors during the year12021'. £nill.
19. r￿pIts1 tommltm@nts
At 315t March 2022 there were no capital commitments12021.' nonel.
20. Related partles
During the year, no expenses were reimbursed to trustees12021'. £nill. No expenses were reimbursed to a
ompany in which a trustée has an int*r@st.
21. Ultimate controlling party
Wickham Community Land Tw3t13 ultlmately contrtslled by the board of Trustees.
33

Wl¢kham Community Land Trust
A Registered Charity and Company Llmlted by Guarantee
Trustee5' Report & Financ4al Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charity Number: 1134897
22. Flnanclal Instruments
The carrylng amounts of tho Trust'E flnxnclal instruments are as follows-.
2022
2021
Flnanclal assets measured at amortlsed cost..
Cash at bank and in hand
531,572
531,572
523,128
523,128
Financial liabilities measured at amortised cost
Other crÈdltors Inote 91
Bank and other Loans (note 121
7,191
308,502
315,693
7,128
315,077
322.205
The total interest income for financial assets that are measured at amortised cost was £1812021= £251.
The total interest and finance expense for financial liabilitles that are measured at amortised cost was
£1,12b12UII: El,Ib31
34

06608621
Wlckham Community Land Trust
A Re8lstsred Charity and Company Llmlled by Guarantse
Annual Report and Flnanclal Siatements forihe year ended
31 Mar¢h 2022
Company Registrallon Number: 06608621
Registered Lharbry Number. 1134897
RegF5tered Office:
The Old Post Office,
5tstlon Road,
Wickh•m. Hampshlre.
P017 SJA

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Re8. No-. 06608621
Charity Nurnber.. 1134897
Contents
Page
Dirertorg Report
1-15
Auditorfs Report
16-20
Staiefflent uf Coiiiprehensive Income
21
Statement of Financlal Position
22
Statement of Cash Flow5
23
Statement o*Changes In Reserves
24
Note5 to the Financial Statements
25-34

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Finan¢lal Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Nurnber= 1134897
DIRECTORS, REPORT
Thé directorg present their a#nuAI rp.port and the financial statÈments for the year ended 31 March
2022.
I. PURPOSES OF THE CHARir
1.1 Purposes as set out In Wickham Commun5ty Land Trusvs governln8 document
The charitV5 pufpp•C4 are At out in the objects in thg Company s Memorandum of Assnrintinn a
follows..
The provision of so¢ial housing and housing to relleve financlal hardship,. and
To promote Such other charitable purposes as may from time to time be determlnad subl•ct
to the prior written consent of the Charity Commission.
Wlckham Community land Trust IWCLTI Is ttedicated to the provision ol affordable housln8 111
Wlckham to relieve the financial hardship of eligible beneficlaries living in the village. surrounding area
or with employment in the area,. holding the property for the long tefrn public good and protecting it
from the damaging effects of asset Price inflation and speculation and thereby enabling the provision
or affordable hou51ng now <ind fuT >ubs¥4uriiL syii¥i"•t10175. INote: (Note." Jince the year cnd, the civil
parish of Wickham has been re-named Wlckham and Knowle", the boundaries of which are co-
terminus wlth those of Wickharn parish at the grant of the Trusvs charitable status. All references in
thls report and future references to "Wickham- theyetore relate to the parish of ￿l£kharn and
Knowle").
1.2 Summary ol activities In support of the purposes
M¢llldxe the bu5iiiess of the Trust In $uch manner a5 tts cover costs artd, as a not-for-profit
organisation, to re-invest for malntenance of the properties
Maintain and run our properties In such a waythatthey can remain a long-term publ1¢ benefit,
contributing to the sustainability of this community
Manage the on.going movement of resldent5 irilv dllLI uut of the propertles 50 that the homes
remair¢ a tr)enefit tn thn%g* whn Qualify to occupy them on grounds of need
Malntain the affordable nature of the accommodatlon
Retain the freehold of the properties In accordance wlth the charitable aims of WCLT to
provide asset lock
Pursuv uppo¥tunitie5 to further meet WCLT'S charitable ob5ectives through the provision of
additional affordable homes In the vicinity, working in cfroperation with Wlnchester City
Council and Homes England
Monitor and review the charltvs performance against its charitsble objectives on a regular
basis.

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial 5tstements for the year ended 31 March 2022
Company Re8. No.. 06608621
Charity Number.. 1134897
1.3 Summary of A¢tlvStles In relatlon to publlc benefft
WCLTS main focu5 Is on providing housing for those who cannot afford from thclr own
resources to buy or rent è home on the open market
The housing of those liwn8 in sf(uations inadequate or unsultable for their needs, regardless
of their age, sex, marital status or any other differentiator
The housing of farnllles1Svlng in overcrowded cunditions by virtue of inabillty of young adults
to find alternativp xffr)rdable homes
Housing those who lose their open market rental homes because of sale or increased rent
The housing of key workers serving the local area
Provision of housing to a number of households with local connection enabling them to
receive support from thelf families le.g. chlldcarel OT to provide support to family members
who need help le.L to elderly relative51
Shorterjourney times for those resident5 wlth work in the local area.
WCLT is not aware of any detriment or harm arlslngfrom the Organlbatluri's itirrib.
1.4 Benefft to a section of the publlc
The publicwhich benefits from our work Is made up ola cr955 settlon of il¥E ¥rUU￿ Ulldblt fi.om their
owrt resources to afford a home on the open market.
r housin
Selection criteria for applicants include housing need, inability to afford propertyto buy or to rent on
the open market, the abilrf(v to meet thè affordable rentlmortgaee oirtgnin&% on a WCLT home,
suitability of the homes WCLT ha5 available to meet the applicants, need5 and local connedlon (see
Geographical Restrlction below).
Geo
ra
l Restriction
WCLT serves the geographical area of Wickham In Hampshire, its adjoining parishes and the
administrative area of Wlnchester City Council, in that order of Priority. Yeing an attractive village
within reach of rhree cltle5. Wlnchester, PorLsrriuuLli aiid Southampton, Wlckham's house p¥lces, both
for piirchas• and rpnt, arp high and beyond the means of rnany people from this speclflc vicinity whg
W15h to be able to live in the community from which they comè or in which they work.
1.5 Id¥iiiilyi118 Public Benefft
The impact of our achievement goes wider than those families we house, and ￿$ public benefits
Include the followin8=
A redurtlon in the number of people seeklng affordable housing in the area
A reduction in local barriers to housing
An increase in housing stock available for affordable homes
Increased availability of local accommodatlon tor key workers seiving the local area

Wickham Communlty Land Trust
A Registered Charity and Company Lirnited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
A redurtion in distances between home and workplace for people working in the area
The retention of assets within the local communityfor public benefit, provlding a long-term
asset lock.
1.6 Prfvate benefit
No-one receives any piSvate benefit from WCLT.
1.7 Oirectorf Publk Benefrt Statement
The Dirertors of WCLT confirm that in dr¥wln8 UP thi5 report thèy have been aware of their duty to
report on public benefit and have pald due regard to the Charlty Commission's guidance in this
respect.
1.8 Contrlbutlon made byvfAunteers
WCLThas no employees. All work undertaken by directors and our part-time bookkeeper. Mrs Brenda
Fattow, Is undertaken on a vuluntary basis.
1.9 Addltlonal Informatlon
WCLT employs a Managin8 Agent for Its rental properties. While the selection process of suitable
eli8iblg pgrsons to occupy its properties remains under the control of WCLT, once that process is
complete the Managing Agent deals with the collection of rent and service charge and manages
repairs. However, WCLT remains closely involved In managementlssues and dlrectly manages the
shared ownership propertles.
2. ACHIEVEMENTS AND PERFORMANCE
2.1 QuantltatSve and Qualltatlve InlorniatSon
In this financlal yeaf the number housed by the Trust increased to 24 individuals (adults and children)
who qualify under the categories outlined in 1.3 above. There were no change5 in tenant occupatlon
dui"iii8 th¢ year, and there were, tlicrcftsre, no void perSods.
Feedback from our residents ￿MaInS consistently appreciative.
2.2 Meelltw the Soclal Housin8 Re8ulatorfs Stsndards
Dlrectors continue to use the Regulatorfs Economlc and Consvrner Standlirds as poiiit5 of reference
for meaduring OUT servlce4•livgry.
2.2.1 Governance and Fi
anclal Viabili
Standard WCLT 's Code of Practice and Flnancial
Viability, based on the standard. 5et5 vul the fundarylentsl values whlch underpln
WCLfs practlce and ensures that it Al m@ets the Regulatorfs standard and bl conducts

Wl¢kham Community Land Trust
A Registered Charity and Company Llmited by Guarantee
Trustees, Report & Flnancial Statements forthe year ended 31 March 2022
Company Reg. No.. 06608621
Chartty Number.. 1134897
it5 business In an effertive, transparent and accountable manner. The 8oard certifies
its compliance with the standard during the course of 202112U22.
2.2.2 Valu
for Mone
Standard
The WCLT Board regularly reviews all areas of its operation to look at opportunities for
reducing costs or securing additional Income in line with its value for Money Pollcy.
The voluntsry time of Board Members in funning the or8anl$3tion "hands on. is a kev
contrfbutor to constraining costs a5 WEII as providin8 a responsive service- examples
inrliidp nijr finAnr.sal and administrative returns. lettings. m3na%ement of shared
ownership properties, financial management and reporting. The Board recognises that
as WCLT grows additional paid administrative and financial resources wiii be required
and future projects include financial provSsion for such additlons.
The Board recognises that mainienance costs are Increa51ng a5 properties dLquired In
2012 aBe and has increased budgetary provislon in Its plans for future years.
In April 2018, the Regulator of Social Housing in published new standards to Registered
Provlders by which tD e5t8bllsh cownparative Value for Money metrics. While these are
a ii<pfiil tnnl gpngrxlly tho 803rd Is aware that the srnall number of properties WCLT
owns mean5 they have to be used with caution and broad comparisons are not reliable.
The following were agreed as relevant by the Board, and we present our performance
evaluation against each parameter..
2021122
10.281
2.97
£4,671
0.25
o.oi
2020121
10.261
Metric 3 GearinB
Metri¢ 4
EBITDA Mfii lTrtere5t cvvEI
Metric 5 Social Housing cost (per 8 units owned)
Metric 6 Operating Margin
Metric 7 Return on Capital Employed
0.26
£7,182
0.30
o.oi
Metrics l and 2 - Reinvestment and New Supply - were not used as there was no
relevant activity in these periods. Metric 4 was low Ir the prevlous year beL41u&e Llie
Tru=t incurred significant expenditur• in rolation to the a¢qiiisitinn nf arldittnnal housing
propertles which were not completed during the year. Ninety per cent of thls revenue
expenditure was covered by government grants but grants are excluded in calculating
this metric.
2.2.3 Rent
tandard.. whilst WCLT 15 exempt frorn thi5 Standard through its provision of
housing for intermediate rent. the Board refers to the Regulatorfs Guidellne Limit in its
rent review, as recommended In Ihe s￿riLl&ll1. 111 2021Izz WCLT applied rent incre&>¢J
between 0.5% and 1.25% to its intermediate rent properties and a 1.25% rise to it5
shared ownership properties in order to maintain affordability, although the Rent
Standard guideline would have allowed higher increases. The Trust was mlndful of the

Wickham Community Land Trust
A Registered Charity and Company Limrted by Guarantee
Trustees, Report & Flnancial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
eCor￿mi( straln on tenants, budgetsas a result of the pandemic and kept rent increases
to a minimum.
LL4 Home Standar
Quality of accommodation.. WCLT'S 8 homes meet the Government's Decent Homes
requlrement and dlsv 5u>Laiiiability Code 3 and Lifetime I lomes criteria.
Repalr5 and Maintenan¢e.. WCLT Is responsive to matters of ongoin8 repalr and
maSntenance.
2.2.5 T¥iidTIL Iliv
Ivviiie41t and I
owerment Standard
WC_IT r.onvened a meeting with resident5 on 30 November 2021 to disseminate
information, explain charges and to capture residents, vlews and respond to any of their
oncerns. More details are given at 6.4 below.
WCLT'S Managing Agent also Visits tenants in their homes. All tenant reviews remain
posltive and feedback in respect of WCLT perforrrance has also been positive. Those
tenant5 reaching the completion of Their slxth year In rE51deriLe IidV¥ i¥1 ièwed their
tenancies. WCLT will continue to take accDunt trf tenants, views In monitoring Its
performance as a landlord.
oumood
In managing its current portfolio WCLTworksto g¢X)d effect with Hyde Group, Wickham
Community Association and Wickham Parish Council in respect of grounds
maintenance, street lighting, the access road and community issues and with
Win¢hester City Council and Wi¢kham Festival organisers.
LdllLldl
2.2.7 T
nanc
Stsn
ard A¢though as a provlder of intermediate homes WCLT is exempt from
this standard WCLT still retain5 its current tenancy standard as a useful guide and
operationjl rcfcrence point In relation to t•nancies and tenanry rpvlp.vj processÈs.
2.3 Athlevements agaln5t oblertlve5 set
The objettives forthe period 2020 2022 were approved bythe Board in September ?niq. Satisfactory
oroRre5s was achieved in all the ongolng managemènt objectives and steady progress was made
towards the acquisition of 10 new properties in Wykeham Vale. It was planned that these home5
would become available durlng the findllLl¢il year but delays in construction encountercd by the
developfjr Icroudace Homes I tAI x< x rp.%ult Of the pandemic, loss of workers returningto the EU after
Brexit and supply constraints meant that there were no completion5 during the year. The properties
will become available in FY 2022123. All arrangements to finance the purchases, however, were
Loinpleted during the year, as anticipated in the report foT the previous year. Loan fin8nrp was
arranged in Drincirjle with Triodos Bank Ilong-term loan) which supplemented grant funding from
Winchester City Council and South Downs National Park, the remainder coming from reserves, most
notably b005ted by a £250.000 donatlon from the estate of a local businessman. The necessary
documentation to complete the purr.hases and the financial underpinning was all completed before
the year end. The Trust has participated with the developer and Aster Homes Ifroffl whom the
properties will be purchased) in regular project progress meetingsthroughoutthe year. Relations with

Wickham Communlty Land Tnjst
A Re8lStered Charlty and Company Limited by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
these parties has been consistently cordial and constructive ensuring that quality of construction and
finish is expected to be to the Trust's specification when eventually completed. As noied In 2.2.2
above, e reventje grant from the Community Housing Fund throu8h Homes EnEl¥nd covered mijrh cjf
the pre-development costs incurred by the Trust but had not been fully utilised bv vear end and $0 a
repayment of the money unused was nece55ary in the early part of the following year. The Trust will
pay the necessary costs Incurred as a result uf the repdYiri￿Iil, Out of reserve5, boosted 25 they have
been by the significant donation received during the year, withoutleopardising in any way the Tru5t'5
flnancial security.
Much wurk WdS LufTipleLvLJ dui iii¥ tlie yea¥ in termJ of financial modcllins tts ¢n4ure that the new
homes to be purchased in Wykeham Vale could be financed without over-straining financial resources
and especially to model incorne from rent on these home5 in accordance with the terms of the 5106
which require5 the home5 to be let at no more than Local Housing AIIDwance and thu5 be-affoTdablE-
accordlrig to Homes England requiTements. In that r*spect. to comply with Hnmp% England
requirements to register as eligible to ch8rge affordable rents, the Trust applied to be an investment
partner in the Wayfarer Consortium of organisations. Membership wa5 granted in February 2022
making the 1.rust parr of The con5C*rtlum'5 LvriLrdLI wiLlI P*uiiies England that runJ ￿ntil 2026.
In addltion togrowth and expansion objectivesthe 2021>2022 objertlves includethe intentto increase
the local profile of the Trust and although no action took place on these goals in the year, plan5 were
matje In outllnE dlktl d¥leVLI iv i)e c•rrsed out In the followin8 year.
WCLT will continue to monitor and review its achievements to ensure it contlnues to meet Its airns.
3. FINANCIAL REVIEW
The financial statements have been prepared In accordance with the Housing SORP 2018.
Under this SORP the capitrl Brant from Homes England used for the purchase of hnmp.s In Houglrton
Gardens, is classified as deferred Income in the Balance Sheetwith a proportion beingtaken each year
to the Income and Expenditure account.
A150, under thls SORP, the Income and Expenditure account is titlp.f4 thp. Statement of Comprehensive
Income and the Balance Sheet is called the Statement of Financial Position. In addStion, we have
included a Statement of Cash Flows.
The principal financial management poli¢i•s in force •re wri fE Fknxnr.ial Controls Policy, Monitorin¢
and Review Pollcy and WCLfs Reserves Pollcy.
3.1 Financlal p051tbon at thè end of the perlod
We are reporting a surplus for the yeaT of £5,34812020121 surplus of £7,780).
The Tnjst's operating performance In thls fin(Iniial year h65 been con5i5tent wlth prior years. The cosh
position at the end of the year was vgry strong as a result of grant income unspent during the year
and the cash donation made in the previous year that is still held in our accounts. The surplus was

Wickham Commltnity Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees. Report & Financial Statements for the year ènded 31 March 2022
Company Reg. No.. 06608621
Charity Number.- 1134897
planned to be lower through the payment of a deposlt1£205,ocKII or* the purchase of 10 homes in
Wykeham Vale, Wickham betore year end butthis payment fell just outside Ihe Flnanclal Year, In Aprll
'22. Thg Sums ar* carried forward irt anticipation of thp tr¥n%xrtlnn bp.ing completed successfullv
during FY 2022123. The deposit amount is half of the total grant agreed with the Council towards this
projert, the remaSnder due on practical completion of the units.
Cash has remained high during the year as a ￿SuIt of the delays in completlng the purchase of
homes In Wykeham Vale.
>.2 Reser¥
WCLT 's Reserves Policy states the Trust's Intention to hold reserves to the equivalent of at least 6
month5, of normal operating costs Sn order to..
ensure continuity In meeting the needs of beneficiarles and the Charitls flnanclal
obllgations
pn%urp the Charity can bridge cash flow problems in Deriods of chan£eover whe
benefltlaries leave or move into properties or rental income drops at such times
maintain and develop Its charitsble artivities.
In line wlth Charlty Commission guidance thi5 poll¢v was reviewed in July 2021 and will be reviewed
annually.
As at 31 March 2022 the Trust held reseNes of £351,85112020121.. £346,503). The reserves held at
the end of the Financial Year are the equivalent of 113 months, operating expendltLITe.
3.3 Principal Fundlng Sources
3.3.1 Lenders in the periotl were as follows..
Charlty Bank
Winchester City Council
Hyde Group
3.3.2 Donatlons..
None
3.4 Rental Incom•
3.4.1 Rental Income from the four rental properties has provided a steady Income throughout the
financial year. There were no void periods.
3.4.2 Rèntal Income from shared ownership homes also provided a Stea0￿ income.
3.5 Expendlture
3.5.1 WCLT has continued to be cautlOU5 Wlth its expenditure and at the end of the period finantes
remained healthy. Our budgeting reflects increased maintenance costs. Otherwise,

Wlckham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
expenditure in this financlal year has been predominantly on administration, legal and
financing fees and Insurance and the Trust continues to track closety to its original financial
model.
3.5.2 Legal costs regarding the Wykeham Vale project were incurred and represented the most
significant single operatlng cost to the Trust. These costs will continue into the followin8
year but will have to be met from reserves as a resuli of the closure of the Communlty
Housing Fund.
3.5.3 All payments are governed by WCLT'S Financlal Controls Policy and 3ny repayment of
expenses to directors is made according to the re8ulations laid down in that policy.
3.6 Risks
3.6.1 The Trust, by the very nature of its business model, is dependent on rental revenues
nd ort external finance, and will thu"
remain exposed to potential increases in
nterest rates. Risk Appraisa15 constantly review the situation, but by the end of the
financlal year it was becoming clear that interest rates would rlse, led by changes to
Bank of England base raTe. Lendlng arrangements m¢ide wiLlI Tiiudv) Bdiik regai"diiig
Wykeham Vale prope.rty pÈJrchasÈs are at 3.0% above base rate. Continuous modelling
condurted during the year demonstrates that existing and new busines5 can stlll return
5urplu5es even at base interest rates rising up to circa 2.0%. Above that level it may be
iieLe55ary to di3CU35 remedial arransemert$ with lendcr5
3.6.2 Succession planning features in the Trusys regular risk appraisal.
3.6.3 Plans for future involvement in other Sltes (see 3.10 below) a150 feature within our
regular assessment of risk.
3.6.4 The impart of the Corona viru5 pandemic on our tenants has been closely monltored
and support offered to thern should the need arise. The Trust 55 pleased to report that
no issues arose during the year or in the months followlng Sts close.
3.6.5 The voluntary affordable homes sector 15 dependent on support from the government.
The Trust has benefitted in paqt ypArg from the availability of the Comrnunity Hous&ng
Fund ICHFI. The Trust has continued during the year to try to persuade the government
to expand provision of grants for which it might be eligible but in view of the worsening
econofflic clSmate it is unlikely t9 See a positive result.
3.6.6 The Government has absolved Community Land Trusts from the riEhtto buy thataffects
other forms of affordable houslng provider. If this were to change it would impact the
Trust's charitable objects and so this rlsk Is constantly under review.
3.7 Investment
As part of the origin31 loan terms with Charity Bank, WCLT has £8,443120120121.. £8,4?Al In a
Charity Bank Deposit Arcount. Although Charity Bank has been sufficiently satisfied wlth the
soundness of WCLfs performance to lift this condition WCLT chooses to retain thi5 deposit.
3A FundroSsin8 artlvStles
WCLT has not undertaken any active fundraising in the course of thls financial year.

Wickham Communlty Land Trust
A Registered Charity and Company Llmlted by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No= 06608621
Charity Number: 1134897
3.9 Event$ subsequent to thls report period
3.9.1 The two rent revièws ¢ond(trted In the year. oné for the rental proport1•s and one for thsb
shared ownership homes, were conducted in the last quarter of this report period, with
implementstion following in the subsequent reportlng period.
3.9.2 nie Trus1 lTrti) ¥iii¢ied iiilo a purchase contract with Aste¥ Home5 for tht purchase of the 10
homes in Wykeham Vale and looksforward to allocating deserving tenants to the properties
in 202V23.
S.IV Vlans for the forthcoming yeaf
n addition to the ongoing management of WCLfs existing properties, the Trusvs activities in
202212023 wfill be heavily influenced by progress on projects to expand its portfollo of affordable
hornes.
3.10.I CoTnpletion of arrangements to purchase 10 homes In the Wykeham Vale projett. The
opportuniry for The TfiJsT TO be Involved has been well 5upport¥d by tlit IuLÈtl duLliuriLvi
the developer and the RSI. purr.hasing the majority of affordable units together with
Triodos Bank 50 that ai year end the final Steps in negotiations were under way and
fulfilment of these is expected In the months irnmediately following the year end.
3.10.Z Di>ius>iyii> ¥vltli both WinGhe3ter City Countil and I lomes InslDnd to develop option-
for
WCLfs acquisition of 20 further homes on a Horne5 England site at Knowle, nearwlckham,
were flagged in last yearfs report. The Trust will continue to pursue these in the next
period.
3.10.3 WCLT has continued its ex¢Èllent Wctrking arrangements wSth developerslhousing
association5 bidding for involvement in the above sltes.
3.10.4 At each step of the way, WCLT carefully appraise any financial and viability risks involved In
these new openlngs
3.10.5 WCLT has addressed issues of staling ijp to A*xl wlth thp.qp. PDtpntial developments and
recruiting extra trustees to cover Increased workload andlor to employ a member of staff
to asslst with the increased admSnistrative work.
3.10.6 The Trust wlll be mountin8 a catnpaign to Inform more widely Ioc31 people of the Trusys
work. start a "friends" of WCLT group and encourage donations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
4.1 Governiffd Document
Wlckttam Community Land Trust IWCLTI 15 reglstered In England and Wales 05 d CviTIPdliY Liniited bv
Guarantee with charitable aims, with the governing documents beSng Memorandum and Artlcles of
Associatlon. It was reglstered as such on 2nd June 2008
4.2 LÈgal Deflnltlon of a Community Land Trust under Housing & R•8eneratlon Act 21x18
WCLT meets the legal defIn￿lOn of a cOmrnun￿y land trust as defined by the Act.

Wlckham Community Land Trust
A Registered Charity and Company Limlted by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
4.3 Members and Membership
Sub5criber5 to the Mew¥Torandum and Artlcles of Association were the fir$t members of the Charity.
Membership is open to other individuals or organlsations who apply to the Charity in the form
required by the Dirertors and who are approved by the Dlrectors. The Board hopes to recruit new
members in this way as part of its succe￿10n planning.
There is one cla55 of membership.
Person5 Wlth Significant Control.. WCLT keeps a register in which to record such but at present the
POSltion is Nll.
In accordance wlth our Confllcts of Interest Policy all directors are required to complete annually a
Register ol Interests.
There have been no changes to the composltion of the TnFSt Board during the year.
Any local authority appointrnents should be malfitalned at less than 20% of the total board. There are
currèntly no LA appointm*nts rgpr•$4nt•d on the Board.
4.4 Dlrector Induction, Trainlng and development
Dircrtors are provided with a Trustee Role Description 3nd ask•d to S*8n a Trustee Code o* Condurt
and to cornplete a Declaration in respect of Individual Voluntary Arrangements, bankruptcy and
unspent convictions. All directors have a copy of the Charity Commisslon publication Yhe Essential
Trustee.. what you need to kno￿. Updates In the Charlty Cofflwni55iOll'5 New)l¥ii¢fS are dl55emlnated
to Directors during the year.
Suitable opportunities for development throu8h attending courses, conferences or serninars are
Identified and supported at Board level.
4.S Or8anlsa¥onal and Structural Matters
4.5.1 Day to Day Manageme
The day-to-day managpment of WCLT is undertaken either by an executive committee or by
the Housing SLtb-comm￿ee. The executlve committee consists of the Chairman, Nicol
Holladay, the Company Secretary, Anthony Raymer, and the Vice Chairman, Geoffrey
Pliillpott5, Wlth involvement of the Financial Director where relevant. The Housin8 Sub-
Cornmittee is made up severally ()f Geoffrey Phillpotts, David Thornpson, Christopher Cook,
Jane Isaac and Wendy Greenish to deal with individual housing matters and the allocation
ot propertles and they are called upon on a more ad hoc basis dependlng on the skllls
required andtheirtime avallatJle. Otherdirectors accordingto theirskills and roles are called
on as per actlons agreed at meetings. Directors are regularly updated on current ISSUÈS at
the board Meetings and all major and poliry deci5ion5 are taken by the board.
io

Wickham Communlty Lanil Trust
A Registered Charity and Company Limited by Guarantee
Tru5tees' RepDrt & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
4.5.2 Code of Practlce WCLT has its own Code of Practice and Flnèncial Viability, based on that of
the Housing Regulatorfs Standard, which the Board deems appropriate to the organisation,
size 4nd role as 0 ntsn-profit rest5tered provtder.
4.5.3 Code of Governance has its own Code of Governance based on that of the Charity
CommlssSon. 80th thls and the Code above set out the fundamental value5 which underpin
WCLfs operatlon and agalnstwhich the Board can a$5ess the effectlveness of itsBovernance
arrangements and operation.
4.5.4 WCLT'S master ten¥ncy documents are In line with current legislation.
4.5.5 Asset Register WCLT manages Fts resources prudently to ensure its viability and actively
assesses and manages rssk. Whilst our properties have not been revalued In the accounts
(see accounting policy h) a valuation carried out in April 2018 at the behest of Charity Bank
showed that all the properties have a market value well In excess of cost and these market
values have been noted in the asset re8iSter.
4.5.0 Daia Protectlon: In Ilne wlth curreni leg151atlon on fjDPR WCLT ha5 audiied the dara It
handles. It has published its Privacy Policy and the Board receives a Data Protection report
at each meeting.
4.5.7 Rlsk Management Consideration of WCLT'5 Risk Appraisal is led by Trustee David Thompson
and embedded as a regular item in Board Meetings and the Board 15 satisfied that WCLfs
consideration of risk Is sufficiently informed to encompass ¢onsideTation of both internal
and external matters and that WCLT has complied wlth regulatory requirements to date and
will continue to do so In the foreseeable future.
4.5.8 Insurance: WCLfs cover provSdes for Directors, and Officers, Liability Insurance, Public 3nd
Products Liability Insurance, Property Owners, Llability Insurance and Buildings Insurance.
WCLT holds NHBC certification for all its eight properties.
4.5.9 Legal
il Now tonant$ ar• lttltlally offered our Starter Only Assured Shorthold Tenancy. and
progress to a five-year Fixed Term Assured Shorthold Tenancy after a satisfartory
probationary period.
Sil Shared Ownership Agreements are based on the Homes England Model Lease for
Protected Areas, wlth stai¥-casing restricted to 80%.
iiil Our tenancy agreernents are reviewed and endorsed by our legal advisers.
4.6 Relatlonships wlth related partles
4.6.1 Charlty Commlsslon: WCLT 15 o rcsi5tcrcd charity Irc614tr)tion 12th March 20101. WCLT
submits an Annual Return to the char￿tY Commlssion and is in receipt of its informative
Quarterly Newsletters.
4.6.2 Homes EnBland and Kegutator of social HOUSiII8- WLLI is registered as a non-profit pr*vate
re8lStered provider of social housin8 Wlth the regu13ting body. WCLT in tÈrms of reB￿lati￿n
counts as a small provider. A5 a Registered Provider WCLT reports to and re￿iVeS athjice
from the regulator and submits its Statistical Data Return under NRosh+.
4.6.3 WCLT, iliiuu¥li IL> uwii puliLy doLUI))èiits atid piocvsses, botli seeks to meet the re8ulato¢s
Economi¢ Standards and to reflett its Consumer Standards. These underpin WCLT'S
operations and throughout thi5 financial period WCLT has sought to maintain and review its
performance against these operating standards.
4.6.4 Hyde HouglnzAssoclatlon: Wtth WCLTownin8 It5 CLITrent portfolio of propertlco On o sharcd
site with Hyde Housing Association communication between us is important.
li

Wickham Community Land Trust
A Registered Charity and Company L4mrf(ed by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
il The working relationship between WCLT and Hyde's local housing management team Is
essence co-operative and effective.
ill communicaTlon wlth Hyde Group's centra115ed department5 can be more diffiiult. WCLT
strives to keep the channels of communication open and effectlve but 5ucce55 in
communication with Hyde Housing's Service Charge and Income Departments can be
patchy in respect of Estate Charges (see section 6 below.. Funds held a5 CUStodian
trustees)
4.6.5 Winchester Clty Council IWCC)
WCLT'S relationship with Winchester Clty Cot2ncil has strengthened further in the year
through its contributions To the local authorltvs communlry led housing initiatives. WCLT
continue5 to report to Winchester City Council and provide it with allocation dats on its
homes so that together wlth the zone agent, Radian Group (see Radi3n Group below), an
up.to-date picture of housing need in the area can be maintained. To comply with s106
arrangements covering Wykeham Vale, WCLT has submitted a revised Allocations Policy to
WCC in order to allow it to provide afftirdable home5 on that 5Ste. The revised polity has
been agreed and cayne into force during the year.
4.6.6 Radian Group.. WCLT Is party to a service level agreement with the Local HomeBuy Agent,
Radban, forhousing in WT*choster Civ5 district. As part of this. their onlln• prnpptywph%itp
for the area, originally HomesinHants and now "HelptoBuySouth", advÈrtlses WCLT'S
affordable homes. puts potential applicants in touch with WCLT and notifie5 WCLT of the
waFting Ilst for homes in the area. In turn WCLT provides Radian wlth WCLfs alloution data.
4 6.7 National CLT Notwork INCLT) WCLT is a member and both benefits from this membership
and actively support5 the NCLT in its work.
4.6.8 Infomiati¢>n Commlssloner and the Housift8 Ombudsman: WCLT is registered with the
former in respect of Data Protection and, a5 a providor of social housin& is registered with
the Housing Ombudsman Service.
4.6.9 Wl¢kham Parish Council., WCLT maintains its Ilnks wlth Wickham Parish Council with
communications with the Llerk tothe Parish Coun¢ii and Indlvldual counclllor5 and exhlbltEd
at the Parish Assembly in May 2020.
4.6.10 Hampshire Home Cholce: in order that the Trust can offer homes on Wykeham Vale to
qualifying tenants, its allocations and nominations policy has been revised to satisfy the
requirernents of the s106 agreement 8overriing iliE provision of affordable homes on the
itg. Int*r nllo. this required the Trust to sign up to advert15e affordable vacancies to local
people through Hampshire Horne Cholce.
5. REFERENCE AND AUMIN15TRATIVE DETAILS OF THE CHARir
Charlty N&me'.
Wickham COmm￿nity Land Trust
Charity Re8lstratlon Number:
1134897
Momes England Reg5stered Provlder..
4692
Company Registration Number:
06608621
12

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No= 06608621
Charity Number- 1134897
Re8lstered Office and operational address..
The Old Post Office,
Station Road Wlckham. Hampshire.
P017 SJA.
Correspondeno add￿55.
P.0. Box 739, Fareham, Hants, P014 9RH.
Board ol Dire¢tots.'
Mr. N. A. Holladay
Mr. G.5. Phillpotts
The Reverend A. J. smith
Mr. A. RayrnÈr
Mr. C. Cook
Mr. E. Fitzgerald
Mr. O.R. Thompson
Th• Reverend Janè Isaac
John the Bapt15t, Shedfield.
Mrs Wendy Greenish
Chairman
Vlce Chairman
Finance Dirertor
Director and Company Secretary
Nomlnee of Benefice of St. Nlcholas, Wickham and St.
ÈankÈrs.. Natwest $2 West Street. Farèham. Hants. P016 OJX
Le8al Ad¥Esers: Anthony Collins Solicitors LLP. 134 Edmund Street. Birmingham, B3 2ES
Audltors: Rothmans Audit LLP, Statutory Auditors and Chartered Accoyntants. Avebury House, St
Peter Street, Winchester, Hampshire, S023 8BN.
Chartered Surveyors.. Chandler Hawklns IPort5mouthl
Hon. Advlser: Capt A. R. Robinson, RN
ManagingAgent: Byrne Runciman, Estate Agents, The Square, Wickham, Hampshire, P017
SJT
6. FUNDS HELD AS CUSTODIAN TRUSTEES
6.1 WCLT levies certait) monthly rhArEp¢ from their tenants..
il ServSce charge5 for Maintenance and Sinking Fund together with an administrative and
accountlng costs fee
ill Estate ServSce Charge for grounds maintenance undertaken by Hyde Houssng and
payable LV LlieTTI vii iTivulL¢. Tliere 15 a collection fee &3>￿1￿ted with thi￿.
6.2 Ag custodian of funds held on behalf of others WCLT has two Client Accounts Into which to
deposlt sum5 rplated to il and 111 above..
il Sums related to the Genoral_£p.rvice Charges and Estate Service Charges are Dald into
current account.
13

Wickham Community Land Trust
A Registered Charity and Company tsmitod by Guarantee
Trnstees, Report & Financial Statements for the year ended 31 March 2022
Cornpany Reg. No.. 06608621
Charity Number.. 1134897
ill Contributions collected for the Sinking Fund are placed in an interest-earning Business
ReseNe Account.
6.3 General Service Charge. WCLT, In its review of rents and servlce charge5 in February 2020
declded again to increase the levy rate for Sinking Fund to allow for inflation at 1.7%. This
Increase of the General service Charge came into effect from May 2021.
6.4 Estate ServSce Charge:
6.4.1 WCLT continues to have a le5S than straightforward Wofking relationship wlth Hyde
on the matter of these charge5 anLI arrangemenTS, though eventually belng reSDlved,
have remained eomplicated by the diffl¢ulty of reaching appropriat@ staff
6.4.2 As in previou5 years, arrangements with Hyde Housing In respect of Estate Service
Charges have not run 5rn00thly desplte constant efforts. Neverthele55, the Trust
makes adequate provisions to meetthe charges which eveniuèlly Bre commLtnlcared
to us and aftér various corrections that need to be made, annual costs arp. agreed
and paid. We regard that, after several years, experience, budget5 are predlctable,
provisions are adequate, and expenditure is under financSal control.
7. CONCLUSION
WCLT has enjoyed a period of consolidation and frustration. The Tnjst has concentrated on managing
its properties as well as ptssslble for the individual residents and with regard to the long-term aims of
the Trust. But ftU5trdtiDn hd) beEii iaused by the delays in completion and pur¢h•se of the 10 homes
Sn Wykeham vale, for reasons covered above.
From a sound flnanclal base, WCLT has been able, however, to rnaintain Its interest Sn the new
prciperties and these wt55 come into the CLfs possession in FY 2022123. WCLT'S involvement in
communitv led housinR will remain crucial to this community because it is able to accornmodate local
people in perpetuity. The addition of the 10 homes on the site tl) the Trust's portfolio is a major step
forward in the growth of the service to local people In need that remains at the heart of the Trust'5
objertives.
WCLT is very grateful for the support of local people and those organisations with which we have
worked over the las[ few years. We partlcularly dppreL141le Llie dl)LJ sometimes special w¢rklng
relationshlps with these 5UPPOrtive organisations.
Slncere thanks are also due to the dsrectors who have given their time and expertise generoLssly and
voluntarlly to Push WCLf5 Bv41s forward. WCLT 15 grateful to those diTectors who are keen tts
contlnue into next financlal year.
STATEMENT OF DIREcfoRS' RESPONSIBIUTIES
The direttors are responslble for preparing the Annual Report an¢J the flnancial Statements in
accordanrB with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
14

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Finan¢lal Statements for the year ended 31 March 2022
Company Reg. No-. 06608621
Charity Number.. 1134897
Company law requires the directorsto prepare financial statements for each financlal year which give
a tnje and falr view of the state of affairs ot the c17aritab5e cornpany and of the Incoming resources
and application of resourc&&, includin8 the income and expenditure. of th@ tharltable company for
that pefSod. In preparing these financial Statements, the dlrectors ère required to..
ensure continulty in meetlng the needs of beneficiarie5 and th¢ Charitl. flnancial
obligations
select suitable accounting policie5 and then apply them conslstentlv
obserne the methods and principles in the Housing SORP
mFke judgments and Cutimotco that or¢ readonable and prudent
state whether appllcable UK Accountin£ Standards have been followed, subject to any
material departures disclosed and explalned in the financial statements,. and
prepare the fSnancial statement5 ori the going concern basi5 unles5 It Is inappropriate to
pre4ume that the rharltable company will continvg in buslnoss.
The directors are responsible for keeplng proper accounting records that disclose with reasonable
accuracy dt <iriy tIlTie Lli¥ liiidllLldl yu>iLioii of tlie cliaritable company and enable them to enyure thèt
the financial statements comply with the Companies Act 2006, the Charities Act 2011, the HousinE
and Regeneration Act 2008 and the AccoL*nting Direction for private registered providers of social
housing in England 201Y. Ihey are also responsible for safeguarding rhe assets of the charltable
comp3ny and h*tr)c• fnr tAklng rpA<nn2hJp for the prevention and detection of fraud and other
irregularitles.
In 40 far as the dire¢tors are aware:
there is no relevant audit informatlon of which the charitable companls auditor is
unaware; and
the director5 have taken all step5 that ihEV uu8111 io have taken to make them5elve5
aware of any relevant audit information and to establish that the auditor 15 aware of that
informatlon
The dlrectors are responsible for the rnaintenanee and inte8rity of the corporate and financial
Informatlon included on the charitable companrfs website. Legislation In the United Kingdom
governing the preparation and dissemination of flnanclal ststements may dlffèr from legislation in
otherjLtrisdictions.
This report has been prepared in accordance with the speclal provlsions of Part 15 of the Companies
Att 2006 relating to small companles.
On behalf of the board.
Anthony Raymer
Dirprtnr 2nA fnmrjany Secretary
20 Septernb8r 2022
15

Wickham Community Land Trust
A Re8lStered Charity and Company Limited by Guarantee
Tru5tees' Report & FSnanclal Statements for the year ended 31 March 2022
Company Reg. No.- 06608621
Charity Number: 1134897
Independent Audltorfs Report to the Members of Wickham Community Land
Trust
Opinlon
We have audited the financial statements of Wickham Community Land Trust Ithe TfUSt'I forthe year
ended 31 March 2022 which comprise the statement of Consolidated Income, the Statement of
Financial Position, the Cash Flow Statement, the Statement of Changes In Reserves and notes to the
financial statements, including slgnlficant accounting policies. The financlal reporting framework that
has been applied In Their preparatlon Is appllcable Idw dnd Urilled Kiii¥duTTI ALLvuiiliii¥ Stsiiddids,
including Financial Reportine Standard 102 Th8 FinancialReportino Stondard opplicoble in the UK(Jnd
Republlc of Irelund (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the Trust's affairs as at 31 March 2022, and of its
income and expenditure, for the year then ended,.
have been properly prEpdrEd iri dLLvrddiiie willi Uiiit¢d Kin8dom Generally Aiopted
Accounting Practice,. and
have been prepared In accordance with the reqltirements of the Companies Act 2006, the
Housing and Regeneratlon Att 2008 and the Accounting Dlrertion tor private registerèd
prowderB of 60¢141 housin8 in En813nd 2019.
Basis for opinion
We ¢onducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our re5ponsibS1ities tsnder those standards are further described in the Auditorfs
re5ponsibilitles for the audit of the tinancial statements sertion of our report. We are independent of
the association in attordance with the ethical iequirements that are relevant to our audit of the
financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other
ethical responsibllitles in accordance wbth these requirernents. We belleve that the audit evidence
we have obtained is sufficient and approprlate to provide a basis for our opinion.
Conclusions relatlng to going concwn
In 3uditing the flnanclal statem•nts. ￿ haw concluded that tho board's iiqp nf thp gning r.nntprn
basis of accountin8 In the preparation of the flnanclal statements is approprlate.
Based on the work we hove performed, wc have not identlfied any materi31 untertaSntles relatin8 to
events or condltlons that, individually or collectively, may cast significant doubt on the associatitsn's
ability to contintie as a going concern for 8 period of at least twelve months from when the financial
statement5 are authori5ed lor issue.
Our responsibillties and the responsibilities of the board with respect to golng concern are described
In the relevant sections of this report.
16

Wickham Community Land Trust
A Registered Charf(v and Company Limited by Guarantee
Trustees, Report & Financial Ststements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number: 1134897
Independent Auditorfs Report to the Members of Wlckham Community Land
Trust (continued. .)
Other Informatlon
The Ilirector5 are responsible for the other information. The other information cornprise5 the
information included in the annual report,. other than the financial statements and our auditor's
report thereon. Our opinion on the financial ststements does not cover the other informatlon and,
exceDt to the extent othenvise explicitly stated in our report, we do not express anyform of assuTan¢e
concluslon thereon.
Our r&sponsibility is to read the other information and, in doing so, conslder whether the other
informatlon 15 materially inconsistent with the financial statements or our knowledge obtained in the
audit or otherwise appears to be materially rnlsstaied. If we ideiiLify 5ucli material in¢onslstencie5 Qr
apparent material misstatements. we are required to determine whether there Ss a material
mi5Statement In the financial Statements or a material misstatement of the other informatlon. If,
based on the work we have performed, we conclude that there Is a motemal m155LdLeFii¥iiI of thi5
other information, we are requSred to report that fart.
We have nothingto report in thi5 règard.
Oplnlon on other matter prexrfbed bv the Companies Art 2￿6
In our opinion, based on the work undertaken in the course ot the audit:
the information given in the dlrectors, report for the financial year for which the financial
statements are prepared is consistent with the financial statements,. and
the directors, report has been prepared in accordance wlth applicable legal requirements.
Matters on which we are requIr￿ to report by exceptlon
In the light of the knowledge and understanding of the Trust and Its environrnent obtained in the
course of the audit, we have not Identified materi41 misstatements in the dirertors. feport.
We havo nothingto report In respect ofthe followinR matterswhere the Companies Art 2006 requires
us to report to you if, in our opinion=
adequate accounting records have not been kept or returns a(Jequatp fur vui dudlt liave not been
received from branche5 not visited by us.. or
the financial statements are not in agreement with the accounting record5 and retums,. or
certain diselosure5 of direttors, remuneration specified by law are not rnade,. or
we have not reEEiv¢d dll the informotion and explanations we requsre for our aiidit. nr
the dirertors were not entttled to prepare the financlal statement5 in accordance with the small
companles reglme and take advantsge of the small companies exemption in preparing the
directors, report and lake advdllL¢l¥¥ vf tlie s1)iall compantes cxcmption from tho r8quir*ment to
p￿pare a strategic report.
In addition, we have nothing to report in respea of the fDllowlng matter where the Houslng and
Regeneration Art 2008 requires us to report to Yoii If, in tjur opinion..
a 5at15factory system of control over transartions has not been maintained.
17

Wickham Communlty Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No- 06608621
Charity Number: 1134897
Independent Auditorfs Report to the Members of Wickham Community Land
Trust lcontinued...)
Dlrertor< responslbllltles
As explained more fully in the director5, responsibillties statement set out on pages 14 and 15, the
directors Iwho are also the trustees of the charitable company for the purposes of company lawl afe
responslble forthe preparatlon of the flnancial statement5 and for being 5at15fied thatthey give a true
and f3ir view, 3nd for suth internal control as the directors determine are necessary to enable the
preparatSon of financial statements that are free from material misstatement, whether due to fraud
or error.
In preparin8 the financial statements. the directors are responsible for a55essing the Trusys ability to
continue as a going concern, disclosln& as applicable, matters related to going concern and using the
going concern basls of accounting unless the directors either intend to liquldate the Trust or to cease
operations, or have no reallstlc afternative but to do so.
Audltorfs respon51bllitle5 for the audit vf the financlal ststements
Our oblectives are to obtaln reasonable assurance about whetherthe financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to Issue an auditorfs report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
thatan auditconducted in accordance with ISAS IUKI will always detect a material mi5Statement when
it exist5. Misstatement5 can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to Infiuence the economic deci5ion5 of u5eTS taken
on the basis of these financial ststements.
The objectives of our audit, in respect to fraud, arè to Identlfy and assess the risks of material
misstaternF*nt of thp finxnr.ixl *txtp.mgntg due to fraltd. tD obtain sufficientappropriate audlt evlden
regarding the assessed risks of material misstatement due to fraud, through designing and
Implementing appropriate responses and to respond appropriately to fraud or susperted fraud
Identified during the audit. However, the prlmary responsibility for the prevention and detectlon of
fraud rests with both those charged with governance of the entlry and management.
In Identifyin8 a35¢5sing risk of materlal mlJJtstement in rejpert of Irre8ul&rftle5, ineludlng fraud
and non-compliance with laws and regulations, our procedures include the following..
The exTenT ro whlch the audlt wa5 con51dered capable of dvtertlns ITregularltle5 In£ludln¥ frdud
Our approach to identifying and assessing thè risks of material mi5Statement in Tespect of
irregularltles, Including fraud and non-compliance with laws and regulations, was a5 follow5..
TIIE gll¥d¥glTi¥iII y¥1 Liier rii&uied tliat tlie eii8a8emeiit team collettively had the appropriate
competence. capabilities and skills to Identlfy or recognise non-compliance with applicable
laws and règulations
We obtalned an ynderstsnding of the legal and re8ulatory frameworks that are appllcable to
the Tru9t and those law5 and re8ulatlons that had a dirott effect on the financial 5tAt•mpnts.
18

Wickham Community Land Trust
A Re8lStered Charity and Company Limited by Guarantee
Trustees, Report & Flnancial Statements for the year ended 31 March 2022
Cofnpany Reg. No.. 06608621
Charity Number.. 1134897
Independent Auditorfs Report to the Members of Wickham Communlty Land
Trust (continued...)
We focused on speclflc laws and re8ulation5 which we consldered may have a dirert
rnaterial effert on the financial statements orthe operations of the Trust, Including FRSIO2,
the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting
Direction for private reglstered providers of social housing in England 2019.
We assessed the extent of ct)mpliance with the laws and regulatlons identified above
through making enquiries of management and inspecting legal CL>rrespondence and the
Sdentified law5 and re8ulations were communicated within the audit tearn regularly anil the
team remained alert to instances of non-compliance throughout the audit.
We a55essed the susceptibilty of the companrfs financial statements to material
misstaternent, Including obtainin8 an understanding ot how traud might occur, by:
makin8 enqulries of management a5 to where they considered there was susceptibility to
fraud, their knowledge of actual. suspected and alleRed fraud- and
considerlng the internal controls in place to mitigate risks of fraud and non-compllance wlth
laws and regulatlons-
To address the risk of fraud through management blas and override of controls, we..
performed analytical procedures to identify any unusual or unexpecte(I relatlonships
tested journal entries to identify unusual transactions
investigxtpd th• rationale bÈhlnd SiEnificant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed
rocedures which included, but were not limlted to..
agreeing financial statement di5¢1osures to undertyinB supportlng documentatlon
reading the minutes of meetings of those charged with govemance
enquiring uf Illdlld¥viiiviiÉ as to actu61 and potential litl8ation ond clalms
reviewing correspondence with relevant regulators, including Hornes England and the
Regulator of Social Housing and the companvs legal advi50rs,' and
reviewed legal and professional expenditure incurred in the year.
There are inherent limitations in our audSt procedures descrlbeil above. The more removed that laws
and regulations are from financial transactions, the less likely It is that we would become aware of
non-compliance. Auditlng standards also limit the audtt procedures required to Identify non-
compliance with laws and regulations to enquiry of the directors and other management and the
inspection of regulatory and legal correspondence, If any.
Materlal misstatements that arise due to fraud can be harder to dètert than those that arise from
error as they may involve deliberate concealment or collusion.
A further de5criptlon of our responsibilitie5 for the audlt of the fTrnan£ial statement$ is located on the
Financial Reporting Council's webslte at: www.frc.org.uklauditorsresponsibilities. Thi5 description
forms part of our audltor's report.
19

Wickham Community Land Trust
A Re8lStered Charity and Company timited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number= 1134897
Independent Auditorfs Report to the Members of Wickham Community Land
Trust (continued...)
Use of our Report
This report is made 501ely to Wickham Communlty Land frusys members, as a body, in accordance
with Chapter 3 of Part 16 of the Cornpanies Art 2006 and sectSon 137 of the Housing and Regeneration
Act 2008. Our audit work has been undertaken 50 that we might state to the Trusys members those
matters we are required to state to them In an auditor's report and for no other purpose. To the
fvllest extent permitted by law, we do not accept or assume responsibility to anyone other than the
a55Dliation and the Trust'b IiierTibers as a body* for our audit work, for thi5 report, or for the opinions
we have formed.
29 September 2022
Susan SullNan FCA (Senior StstutoryAudltorl
For and on behalf of
Rothmans Audit LLP
Chartered Accountants and Statutory Audttors
Avebury House
6 St Peter Street
Winchester
Hampshire
S023 8BN
20

ckham Community Land Trust
A Registered Charity and Cornpany Llmlted by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charlty Number: 1134897
Statement of Comprehensive Income
For the year ended 31 March 2022
2022
2021
Nole
Tumover
Operating expenditure
50,427
137,3711
72,925
157,4571
OpcrFJtin6 Surplus
13.056
15.ÈW
Interest receivable and other income
Interest PdV¢ible dnd financing costs
18
17,7261
75
17,7631
IDeficltllSurplus oft ordinary xtlvltles before tixa*iL
Taxation
5,348
7.780
IDefidt)ISurplus forihe year and tthal comprehensive income
14
5,348
The results relate wholly to contlnulng artivities.
The accompanylng notes form part of these financial statements.
The financlal statements were approved and authorlsed for i55ue by the Dirertors on 20 September 2022 and
signed on their behalf bv
Nicol Holladav
Chairman & Directoi
Geo
Dir
rey
illpotts
21

Wlckham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees, Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
Statement of Financial Position
As at 31 March 2022
31 M•r¢h
2022
31 Mar¢h
2021
Note
Flxed assets
Tangible lixed assets
686,253
698,555
Curr¢nt assets
Prepaid expenses
Cash at bank and in hand
3,969
531,572
535,S41
3,748
523,128
526,876
Cnditors - Amounts fallin8 due within one
vear
{226,5261
121,2481
Net current assets
309,015
505,6Z8
Tot31 aÈs•ts less curr•nt Ilabiliti•s
995.268
1.204.183
Creditors - Amounts falllng due after more
than one year
Provisions for Ilablllties
io
Ibi4J491
1847.7071
13
111,0681
19,9731
Total Net asset5
351,851
346,503
Reserves
ncome and expenditu￿ reserve
14
35L851
346,503
Total Reser
351,851
346,503
These accounts have been pr¥bpared in accordance with the provisions appllcable to companies subje¢t to the
small companies, regime.
The financial statements were approved and authorised fnr issue by the Directors on 20 September 2022 and
are slgned on their behalf bv
Nicr)I
ada¥
Chairman & Director
Geo
Dir
potts
ctor
Thc notes on pages 25 to 34 foyrn part of these accoiints
22

Wickham Community Land Trust
A Registered Charlty and Company Limited by Guarantee
Trustee5' Report & Financial Statements for the year endèd 31 March 2022
Company Reg. No.. 06608621
Charity Number: 1134897
Statement of Cash Flows
For the year ended 31 March 2022
Note
2022
2021
Net cash generated from operating artivlties
15
17.452
11,7741
Cash Flow from Investln8 Artl%rfties
Interest received
i¥
25
Cash Flow from Flnancing Artlviiles
Grants and donations received
Interest pald and other finano costs
11,3001
17,7261
22,095
17,7631
Npt r.hange in cash and cash equivalents
12,583
Cash and cash equivalents at the start of the year
523.128
510,545
-h cqylvalente 3t thè ond of thg y•ar
53LS72
523.128
23

Wickham Community Land Trust
A Registered Charlty and Company Limlted by Guarantee
Trustees, Report & FinancSal Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number= 1134897
Statement of Changes in Reserves
In¢ome and
expendlture
reseNè
Total
At l April 2020
Surplus for the year
Total comprehensl¥e income
At 31 March 2021 and l Aprll 2021
Surplus forthe year
Total comprehenslve income
At 31 March 2022
338,723
7,780
7.780
346.503
5,348
5,348
351.851
74.998
263.725
263.725
338.723
7,780
7.780
346.503
24

Wlckham Communf(v Land Trust
A Registered Charity and Cornpany Llmlted by Guarantee
Trustees, Report & Financial Statements for the year efided 31 March 2022
Company Reg. No.. 06608621
Charity Number: 1134897
Notes to the Financlal Statements
l. Account5ng polle5es
al Legal 5totus
Wickharn Community Land TTUSt is registered undèr the Companies Act 2006 as a company Ilmited bv
guarantee incorporated in England and Wales. It is registered with both the Charity Commission and Homes
England as a Registered Provider and Is a public benefit entity- Its registered office Is The Old Post Office,
ststion Road, Wickham. Hampshire, P017 51R
bl Bt7sis oApreporatii
The financial statements have been prepared
under thè historic rost conventSon
on the going concern basls
in accordance wlth the Stst¥ment of Recommended Practice for soclal housing providers known as
the Hoiisln8 snRP ?.ni8
in accordance with the Accounting Dlrettion for private reglstered providers of soclal houslng in
England 2019
iii accordance with the Charitlc.. Act 2011
in accordance with applicable UK Generally Accepted Accounting Principles (UK GAAPI accounting
standards, including Financial Reporting Stèndard 102 IFRS 1021
in accordance with the Companies Acts 2006.
The financlal statements are presented in sterllng which is the functlonal currency of the Trust ar¢d are rounded
to the nearest pound.
As the Company Is a charity, the wording of the ststutoryformats requlred by the Companies Act 2Q06 has been
appropriately amended in older to give a true and fair vlew.
The principal accounting policles adopted In the preparation of the financial statements are set out below.
cl Significuntjudgements
In applying the various accounting policies relevant to social landlords, the trustees have determiTt¥d to
careguii5E LI1￿ l)ou5es owned by the fixed a4sets rather th•n Snvestm#nt prnpprtips. As suth they are
shown at cost rather than market value. As house prices have risen slnce the houses were acquired bythe trust
thSs means that they are shown in the accounts below market value.
dl KtyAs5UmPtions t7nd sources olestimation uncertointy
The trustees considerthat there are rio signifiont area5 of uncerthinty in the assumptions they have made that
would be likoly tn rxiiw_ a matèrlal change to the carrylng value of any assets or liablllties over the next year.
25

Wlckham Community Land Trust
A Reglstered Charity and Company Lirnited by Guarantee
TfUStees' Report & Financial Statements forthe year ended 31 March 2022
Company Reg. No: 06608621
Charity Number: 1134897
A¢countin8 pollcles fcontAnued}
el Funds structure
Unre5trirted funds are available for use at the dixretlon of the Tru5t¢es In fvrtherance of the general
objectives of the charity.
Designated funds are unrestricted funds earmarked by the Trustees for particular purpose5.
Restricted funds are subjected to rèstrlctions on their expenditure Smposed by the donor or through
the terms of an appeal.
fj rurnover
Turnover comprlses rental income receivable in the year, service charges receivable in the year and Incomefrom
shared ownership first tranche sales. Income from flrst tranche sale5 is recoEnised at the polnt of legal
Completion of the Ale.
gl Expenditure
Expenditure Is recognised on an a¢cruals basls.
h) fix¢d ussCt5
Housing properties
The company holds four properties available for rent and four properties available for shared ownership.
Fixed assets are stated at cost less accumulated depreciation.
Dpprprlutit
Freehold land is not deprecFated.
The company separately identities the major component5 whl¢h comprfse Its hDU51n¥ Plu￿rtIeS Oiid charses
depreciation so as to write down the cost of each component to its estimated residual value. on a 5traight-line
basis, over its estimated useful economic life.
The company depfeclatpq thg rn3jor component5 of its housing proDertles over the following timescales
Structure
100 yebrs
60 years
20 years
30 years
15 years
30 years
20 years
30 years
Roof
Kltrhpn
Bathroom
Boiler
Heatlng System
Windows & Doors
Electrics
26

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees. Report & Financial Statement5 forthe year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
l. Account5ng pollcles (continuedj
Impolrment
Impairment review5 are carried out as and when evidence romes to light that the recoverable amount of a
functional fixed asset is below its net book value due to damaRe. obsolescence or other relevant factors.
il Shured ownershlp properties
Shared ownership properties are spllt proportionally between curfent and fixed assets based on the element
relatins to firyt tranche sales. The first tranch9 proportion is classed as a current 35g•t rplAtpA %2lp rbrnrppd¢
included in turnover and the remaining element is classed as fixed assets and included in housing properties at
Cost, less any provisions needed for depreciation or Impalrment.
11 So¢lo1 Housing Gnint
Social housfng grant ISHGI is receivable from Homes England. Under SORP 2018 the company has adopted the
accruals model for the recognition of government grant and is required to account for such grants as defer￿d
Income and to take a portion ot the grant to Income each year. (Jrants relating to housing propertle5 are
recognised in income on a systematic basis over the useful economic Ilfe of the housing property structure.
kj ikbtors Lredltors due wirhin one Year
Debtots and creditor5 ￿CeiV4b1e or payable whhln one year, and with no stated interest rate, are initially
recorded * transactlon price and are subsequently measured at the undiscounted amount of the cash or other
consideration expected to be pald or received.
IJ Loans und borrowing5
Loans and borrowing5 are initlally recognised at rhe transactlon prlce In£ludlngtran5attion cv&l>. Subsequently
they are measured at amortised cost uslngthe effective interest rate method, le55 impairment.
The Trust Is Sn receipt of two loans with interest rates below the prevailing market rate of interesr. These loans
are not repayable on demand and are for the purposes of furthering the objectives of the public benefit entity
or publlc beneflt entity parent anil are therefore accounted for as concessionary loans. These loans are initially
measured at the amount received and in subsequent years the carrying amount of these loans is adjusted to
r¥flELI dfiy dLLrued interest payable.
mj Provision5for Lit7brlitles
Provisions are recognised when the Trust has an obligation at the balance sheet date as a result of a past event,
it is probable that an outnow of econornic beneffts wlll be requlred In settle￿1￿[7L diid ili¥ diiivuill Laii be ieliablv
estimst8d.
27

Witkham Community Land Trust
A Registered Charity and Company Limlted by Guarantee
Trustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 066Q8621
Charlty Number= 1134897
2. Income and Expenditure from So¢lal iettlt
2022
zozi
Turnover
Interrnediate rental income
Shared Ownership rental income
Hornès England grant taken a5 Income
Homes England revenue grant
Charges for support seNlces
31,697
14.215
3,700
11,3001
2,115
31,408
13,987
3.7
22,045
1,785
50,427
72,925
Expendlture
Malntenance costs
Insurance
Void costs
Property Management Costs
Other co
13,3741
14,1601
16,6661
14,1861
12,6621
127.1751
12,6381
137,3711
157,5471
Rental income is stated net of identifiable seNlce charges.
3. Inknrest recelv4ble and other in¢•m¢
2022
2021
Interest receivable
Insurance claims
Donations & grants received
18
25
4. Surplus on ordinary actmtles
This is stated after charging..
2022
2021
AudttTrr'5 remuneration-for audit services
AiJditDrfs remunèration- non-audlt SerVi￿S
Depreclatlon
3,948
360
12,302
3,924
564
12,302
28

Wickham Community Land Trust
A Registered Charity and Company Llmlted by Guarantee
Trustees, Report & Financial Statements forthe year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
5. Taxatlon
As a charitvi WCLT 15 exempt from tax on Income and gains fallin8 Wlthin seuion 505 of Ihe Taxes Act 1988 or
$256 of the TaN3tion of Chargeable Gain5 Act 1992 to thp pxrpnt thxt thosg_ arp. applied tD its ch3ritable objècts.
No tax charge5 have arisen in the Charity.
Key m#na8em¢nt personnel rcmuneratlon and tmployèOS
Key management personnel neither recelved nor waived any remuneratlon durSng the year.12021: £nill. The
charity had no emplgyees In the current or previou5 year.
7. Tangible fixed assets
Freehold Land and
Bulldings-
Interniediate Rent
FreEhold Lar￿ and
8ulldlngs-
Shared Ownershlp
Total
Cost
At beginning of year
Addition5
495.￿7
310.166
805,173
At eiid of year
495,007
310,166
205,173
Depreclatlon
At beginning of year
Charge for year
166,8731
17,7161
139,7451
14.5861
1106,6181
11?.4021
At end of year
174,5891
144,3311
1118,9201
Net l)ook vulue
At 31" March 2022
420,418
Z65,835
686,253
At 31° March 2021
428.134
270.421
698.555
The above assets, Wlth a net book value of £686,253 are pledged as security agaln5t the Twst's loans.
29

Wickham Community Land Trust
A Registered Charity and Company Limited by Guarantee
Trustees. Report & Financlal Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charity Number: 1134897
& Prepaid expenses
Z022
2021
Insuran￿ costs
Other
3,879
3,660
88
3,969
3,748
9. Creditors- Amounts falllng due within one year
2022
Z021
Bank Loans (note 121
6,687
7,191
3,948
3,700
205,000
Other creditors
Accrued expenses
Deferred income from Homes England grant
Deterred grant from winchester Clty CuuriLII
7.128
3,816
3,700
226,526
21,248
10. CredltOFS- AnK•unts falliTrJ due efter more than one year
2022
2021
Bank loans (note 121
Loans from other instStutions Inote 121
Deferreil income from grants (note 111
217,022
84,794
330,533
224.171
84,302
539,234
847.707
I he loans from orher Instltutlons illv LVTiLvssSon6ry loans with interest ratci bclow the
prev3ilinE markèt rAtp.
30

Wickham Community Land Trust
A Registered Charity and Company L4mlted by Guarantee
Trustees, Repgrt & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06608621
Charity Number.. 1134897
11. Deferred Grant Income
2022
20Zi
At l April
Received in the year
Rele¢ised LG illLDrne iii yE(11
542,933
546,633
At 31 March
Amounts to be reled5ed wlLlilri l yedl
Amounts to be released In mnro than l yr
208.700
3,700
12. Bank loans and loans from other Instltutlon5
2022
2021
Due within one year and on demand
Due after one ygar but l•ss than two y•ars
Due after two years but less than fwe years
Due after more than five years
6,687
6.942
22.455
272 418
6,604
fi.fi5E7
21,630
308,502
315,077
The aggregate amount of debt secured upon the intermedlate ￿ntaI properties and the share of shared
ownership properties retsined by the trust is £308,502
The loans bear interest in the range of 0% to 3.75%. The Instalment loan is repayable over 25 years and as at 31
March 2022 £272,418 of Instalments were due after more than 5 years.
13. Provlslons for Ilabilhles and ¢haryes
2022
2021
Provision forfuture overhaul
11,068
9,973
Provisions for Ilabilities and charges comprise of amounts Set aside for the future overhaul of the propertles.
31

Wlckham Community Land Trust
A Reglstered Charity and Company Limlted by Guarantee
rrustees. Report & Financial Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charity Number.. 1134897
14. Reserves
Unrestrlued senerol
reserves
TDtal rE5EFVE>
Balance a5 at l Aprtl 2021
Surpluslldeficitl for year
346,503
346,503
5.348
At 31 March 2022
351,851
351,851
15. St*ement of Cash Flows from Operating Artlvities
2022
2021
Surplus for the year
Adlu5trnent fDf nDfi-L8s11 Items
np.prpciation
Increase in defe￿ed income
Amortisation of government grant
Ilncrea5el in prepayments
IDaer•2sellincreas* In cr@ditors
IDecreasel in loans
Increase in pmvlslons
Adjustment for investlng and financing ?ctlvity
Interest payable and other finance costs
Grants repaid/lrecelvedl
Interest received
5,348
7,780
12.302
12,302
13,7CQI
12211
195
16,5751
1,095
13,7001
171
16,4271
1,095
7,726
1,300
1181
7,763
122,0951
1251
Net cash generated from Operating attivities
117,4521
11,7741
15a Analysls of changes In net debt
2021
Cash
Flows
Other
thanges
2022
Luri¥ lerm borrowings
315,077
315.077
16,5751
16.5751
308,502
308,502
Cash and cash equivalents
Total net debt
1523,1281
18,4441
1208,0511 115,0191
1531.5721
1223,0701
32

Wickham Communlty Land Trust
A Reg19tered Charity and Company Limited by Guarantee
Tru5tees' Report & Financial Statements for the year ended 31 March 2022
Company Reg. No.. 06508621
Charity Number.. 1134897
16. Attommodatlon In management
At the end of the year, accommodation in management for each type of property was as follows:
2022
2021
Shared own•rship
Intermediate rent
17. Company Ilmlted byguarantee
Wickham Community Land Trust is a company limited by guarantee and has no share capital. A5 at 31st March
2022 there were 9 Ininel members. Every member promises, it the Company is wound-up, to contribute such
sum (not exceeding £10) ès may be demandèd of hlm or her towards any deficit.
l& Dlrector Infomiatlon
No remuneration was paid to the Dlrertors during the year12021'. £nill.
19. r￿pIts1 tommltm@nts
At 315t March 2022 there were no capital commitments12021.' nonel.
20. Related partles
During the year, no expenses were reimbursed to trustees12021'. £nill. No expenses were reimbursed to a
ompany in which a trustée has an int*r@st.
21. Ultimate controlling party
Wickham Community Land Tw3t13 ultlmately contrtslled by the board of Trustees.
33

Wl¢kham Community Land Trust
A Registered Charity and Company Llmlted by Guarantee
Trustee5' Report & Financ4al Statements for the year ended 31 March 2022
Company Reg. No: 06608621
Charity Number: 1134897
22. Flnanclal Instruments
The carrylng amounts of tho Trust'E flnxnclal instruments are as follows-.
2022
2021
Flnanclal assets measured at amortlsed cost..
Cash at bank and in hand
531,572
531,572
523,128
523,128
Financial liabilities measured at amortised cost
Other crÈdltors Inote 91
Bank and other Loans (note 121
7,191
308,502
315,693
7,128
315,077
322.205
The total interest income for financial assets that are measured at amortised cost was £1812021= £251.
The total interest and finance expense for financial liabilitles that are measured at amortised cost was
£1,12b12UII: El,Ib31
34


SAS/SD/WI054 

29 September 2022 

The Trustees The Wickham Community Land Trust 25 Dairymoor Wickham Hampshire PO17 5JR 

Dear Sirs 

In accordance with our normal practice, we are writing to draw your attention to various matters which arose during the course of our audit of the charitable company’s accounts for the year ended 31 March 2022:- 

1. We have no comments to make concerning the qualitative aspects of the entity's accounting practices and financial reporting. 

2. We did not encounter any significant difficulties during the audit and there are no significant findings from the audit to draw to your attention. 

3. A draft of our proposed letter of representation is attached. We draw your attention to paragraphs 21, 24, 25, and 26. In other respects the letter is routine. 

4. A schedule is attached of all the unadjusted misstatements determined during the course of our audit, except for those considered to be clearly trivial.  You have advised us that your reasons for not adjusting the financial statements in respect of these misstatements are that they are not material. 

For your information we also attach a schedule of adjustments that you agreed should be processed when finalising the accounts. 

5. As you are aware from our letter of engagement, our audit procedures were directed towards testing the accounting systems in operation upon which we have based our assessment of the accounts.  We did not identify any significant weaknesses during the course of our audit. 

6. We do not propose any modifications to our audit opinion and hence will be issuing a clean audit report. 

7. We have confirmed to you that the firm does not provide any services to you which may affect our independence. 





2/ 

The firm and the audit engagement team have therefore complied with relevant ethical requirements concerning independence and we confirm that we are independent and able to express an objective opinion on the financial statements. 

We would like to take this opportunity of expressing our thanks to you for your assistance during the course of our audit. 

Please note that this report has been prepared for the sole use of the Wickham Community Land Trust. With the exception of the Homes and Communities Regulation Committee, it must not be disclosed to third parties, quoted or referred to, without our prior written consent. No responsibility is assumed by us to any other person. 

The purpose of the audit was to enable us to express an opinion on the financial statements. The audit included consideration of internal control relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. The matters reported above are limited to those deficiencies that the auditor has identified during the audit and that the auditor has concluded are of sufficient importance to merit being reported to those charged with governance. 

If we can be of any further assistance, please contact Sue Sullivan. 

Yours faithfully 


Rothmans Audit LLP 




## SCHEDULE OF ADJUSTED MISSTATEMENTS 

During the audit, we identified two misstatements, which you have agreed to adjust in the final accounts. 

||||**_SOFA_**|<br>**_Balance_**|
|---|---|---|---|---|
|**_Narrative_**|**_DR_**|**_CR_**|**_(I&E)_**|**_sheet_**|
|Deferred Income AOY|205,000.00|||205,000.00|
|Deferred Income WOY||205,000.00||(205,000.00)|
|_Being reclassification of grant income for property purchase made after_|||_year-end_|_as due within_|
|_one year_|||||
|Maintenance||33.14|(33.14)||
|Admin Charges||437.40|(437.40)||
|Marketing|470.54||470.54||
|_Being correction to classification of marketing costs_|||||
||205,470.54|205,470.54||-<br>-|



## SCHEDULE OF UNADJUSTED MISSTATEMENTS 

During the audit we identified two misstatements which was above the clearly trivial threshold of £855, but which were not material to the financial statements. Management has not corrected these misstatements as they are not material in the context of the financial statements. 

|||**_Actual errors_**|**_Actual errors_**|**_SOFA_**|**_Balance_**|
|---|---|---|---|---|---|
||**_Narrative_**|**_DR_**|**_CR_**|**_(I&E)_**|**_sheet_**|
|1|Service charges due to tenants|3,389.19|||3,389.19|
||Provisions for liabilities||3,389.19||(3,389.19)|
||_Being provision for long term expenditure presented as amounts due to tenants_|||||
|2|Accruals||2,197.39||(2,197.39)|
||Legal Fees|1,671.39||1,671.39||
||Repairs|526.00||526.00||
||_Being costs relating to FY2022 paid post year-end and not accrued_|||||
|Total of potential adjustments||5,586.58|5,586.58|2,197.39|(2,197.39)|