**Registered number: 06876284 Charity number: 1136242** **William Robinson Gravetye Charity** **(A company limited by guarantee)** **Trustees' report and financial statements for the year ended 31 March 2023** **William Robinson Gravetye Charity (A company limited by guarantee)** ||Page| |---|---| |**Reference and administrative details of the charity, its trustees and advisers**|1| |**Trustees' report**|2 - 7| |**Independent examiner's report**|8| |**Statement of financial activities**|9| |**Balance sheet**|10 - 11| |**Notes to the financial statements**|12 - 22| **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Reference and administrative details of the charity, its trustees and advisers for the year ended 31 March 2023** |**Trustees**|Julia Grant, Chair| |---|---| ||Mary Barkham| ||Martin Bellamy (appointed 1 August 2022)| ||Hugh Bullock| ||Karen Dukes (resigned 13 July 2022)| ||Belinda Gordon (appointed 1 August 2022)| ||Peter Latham OBE| ||Richard Leman OBE (appointed 1 August 2022)| ||Gillian Sandham| ||Julian van Kan (appointed 1 August 2022)| |**Company registered**
**number**
**Charity registered**
**number**
**Registered office**
**Company secretary**
**Accountants**
**Bankers**
**Estate managers**
**Investment managers**|06876284
1136242
34 Dalkeith Grove
Stanmore
HA7 4SG
Mrs Sheila Taylor
Chavereys
2 Jubilee Way
Faversham
Kent
ME13 8GD
HSBC
27 Gloucester Road North
Finton
Bristol
BS7 0SQ
RH & RW Clutton
92 High Street
East Grinstead, West Sussex
RH19 3DF
Forestry England (East)
Santon Downham
Brandon, Suffolk
IP27 0TJ
CCLA Investment Management
One Angel Lane
London
EC4R 3AB| Page 1 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Trustees' report for the year ended 31 March 2023** The trustees present their annual report together with the financial statements of the charity for the period 1 April 2022 to 31 March 2023. The annual report serves the purposes of both a trustees' report and a directors' report under company law. The trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). This report has been prepared in accordance with the small companies regime of the Companies Act 2006. ## **Objectives and activities** ## **a. Policies and objectives** The trustees are committed to best practice and have reviewed governance policies and procedures including internal financial controls. They have followed best practice as recommended by the Charity Commission. In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Objects** The objects of the charity, as set out in the memorandum of incorporation of the company, are all objects which are regarded as exclusively charitable under the law of England and Wales and in particular to serve as corporate trustee of the 1936 charity and thereby preserve for the benefit of the public the land at West Hoathly known as the Gravetye Estate, the woodlands and wildlife thereon, including, inter alia, the manor house known as Gravetye Manor and surrounding gardens. ## **c. Our vision and mission** To be recognised internationally as an important estate engaging with the environment to promote resilience and biodiversity in a positive way. To provide an inspiring visitor experience that is informative and allows ideas and forestry values to be shared and developed. To protect, enhance and promote the legacy of William Robinson and the heritage of the Gravetye Estate as one of significant influence in gardening and forest garden history. To invest in the estate and to improve woodlands, buildings and other assets. ## **d. Main activities undertaken to further the charity's purposes for the public benefit** The trust property known as the Gravetye Estate consists of cottages, farmland, agricultural buildings, lakes and a hotel and its grounds. The assets are leased on long term agreements where appropriate. These assets yield an annual income which is applied to fund some maintenance and improvement throughout the year and to raise awareness of the estate and William Robinson’s legacy via various channels of educational/social/community projects and volunteering. The trustees are prioritising each of the projects (see later herein), but the costs exceed the estimated cash flow for the foreseeable future. Hence, the trustees are implementing a strategy to diversify income sources and to raise external funds to help finance these improvements. Page 2 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** **Trustees' report (continued) for the year ended 31 March 2023** ## **Achievements and performance** ## **a. Main achievements of the charity** The focus of the charity this year continued to be the transformation of the Gravetye Estate. We are implementing the vision and mission of the charity and fully reflecting the legacy of William Robinson. In practice this means. - Restoring and improving the woodland and the associated lakes and landscape features; - Developing a comprehensive understanding of the biodiversity on the estate to develop a sustainable plan for management and improvement; - Overseeing the leasing of the historic properties including Gravetye Manor, which operates as a hotel; and - Improving the physical condition and signage of footpaths and forest tracks for the public to enjoy with free accessible parking areas. Significant progress has been made in bringing farmland back into favourable condition with the Home Farm tenancy coming back into the control of the charity. A substantial refurbishment of the farmhouse, Home Farm Cottage, has been completed and the old dairy buildings and other traditional buildings are now being renovated. The process of conducting a survey of farmland has started in order to understand how sustainable biodiversity improvements can be funded and delivered. The trend of increasing numbers of visitors to the estate continues post-pandemic and we welcomed 7,000+ people of all ages for long distance and leisure walks, jogging and horse riding during the year. The trustees have set up task groups during the year to focus on direct improvement works in three areas: - i. Finance and General Purposes Group – recently set up to advance financial and administrative work as the charity expands its activities; - ii. Property Advisory Group – principal focus on improvements to the physical assets of the estate; and - iii. Forest Advisory Group - planning and implementing improvements to the forested areas and vistas. The key achievements from this work during the year were: - Significant improvements to the public and permissive footpaths around the estate and the creation of William Robinson Woodland Trails with maps and signage to help visitors enjoy the highlights of the estate; - The development of a Woodland Management Plan that will harness knowledge and research to trial climate change and disease resilient tree species and planting techniques; - Improving biodiversity within the estate and nurturing a relationship with The Newt Conservation Partnership to restore an important pond near Lower Lake; and - Proactive stewardship of historic assets, including Gravetye Manor, as a legacy to Willian Robinson. ## **b. Development** Recognising that income from land and property on the estate is not sufficient to deliver the aspirations of the vision, the trustees recruited a part-time Development Manager in December 2021. The Development Manager is focused on raising awareness of the charity and its funding needs. A brand has been developed along with a new website and enhanced use of social media and other platforms. A volunteering programme was devised in 2022 and this has seen the charity hosting regular visits from local secondary schools with Special Educational Needs children as well as other monthly weekend volunteering sessions. The charity is growing a database of volunteers and engaged individuals via a monthly newsletter, regular blogs, and social media posts. Projects are being planned to enhance visitor accessibility and improve visitor experience of the estate and to allow the charity to explain and promote the work of William Robinson. Page 3 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** **Trustees' report (continued) for the year ended 31 March 2023** ## **Achievements and performance (continued)** ## **c. Estate management** RH and RW Clutton continue to manage day to day activity on the estate and supervise specialist contractors on forestry, property, and civil engineering matters. ## **d. Forestry** Jamie Kirkman, Forestry & Sawmill Manager, The Balcombe Estate, continues in his woodland advisory role. He is responsible for day-to-day forestry operations and for managing tree health issues related to ash die back and Ips typographus. ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. ## **b. Net result** The trustees consider the charity to be financially stable and the detailed results for the year are set out in the statement of financial activities, balance sheet and notes which accompany this report. During year the charity realised an increase in revenue from its charitable activities (namely rent and other noninvestment income) to £189,725 (2022: £165,780). The year also saw the charity take back in-to-hand Home Farm Cottage which required considerable expenditure to enable it to be rented. These costs contributed to an overall loss of £237,207 (2022: a surplus of £258,226). The property is now fully let. Page 4 ## **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Trustees’ report (continued)** ## **for the year ended 31 March 2023** ## **c. Unrestricted but Designated Reserves** The charity has unrestricted free reserves of £149,048 (2022: £1,652,156). Much investment is required to the existing property assets and wider estate (eg: replanting woodland which has been devastated by pest and/or disease). The trustees have identified the following specific projects for which existing reserves have been designated. |**Area**|**Expected costs**
**@ 3/2023**|**Timing**| |---|---|---| |Buildings:
-
Volunteer access
-
Moat Cottage renovations
-
Solar installation
-
Estate property repair and
refurbishment
£65,000
£150,000
£50,000
£473,900
2023/2024
2024/2025
2024/2025
2024/2025
Forestry/woodland – Developing resilient forest
£315,000
2023-2028
William Robinson Woodland Legacy
£62,000
2023-2028
Dams & lakes – contingency
£150,000
2023/2028||| |**TOTAL**
**£1,265,900**||| The current and projected lease and rental income help to cover some of the ongoing costs of maintaining the overall estate, but they will not be sufficient for the life cycle capital costs and improvement of both the property and forestry assets as planned. The total cost of the designated and other projects, based on current prices/costs, exceeds the charity’s existing unrestricted reserves and thus there is a need for judicious planning and prioritising to focus on those which can be funded and will deliver immediate revenue, whilst at the same time maintaining a sufficient liquidity reserve. Page 5 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Trustees' report (continued) for the year ended 31 March 2023** The new legislation for the renting of property means significant expenditure is required to ensure that we comply. As for the forest, large investments are needed not only to improve biodiversity on the estate, but also meet the costs of restoring forest already impacted by plant health challenges such as Ips. Thus, other sources of funding are essential to meet these investments and ensure the charity has a healthy reserve (sufficient to cover operating costs over a defined period) to sustain the overall legacy in perpetuity. ## **d. Risks, controls and mitigants** The trustees are responsible for ensuring that the charity has an appropriate system of risk management and controls. The most significant risks relate to loss of income from properties, and the risk of tree disease and climate change damages. Mitigation includes a focus on ensuring a sound relationship with the leaseholders and the establishment of new funding opportunities, supported by the new strategy developed by trustees in 2020, and which continues to be reviewed to meet the demands as required. Mitigations to improve tree health include regular inspection and pre-emptive felling where necessary and measures to improve the resistance of existing trees and plant new disease resilient species. The priority remains to develop the existing revenue streams as well as diversifying funding sources to preserve and enhance the legacy of William Robinson. The charity uses HSBC as its bankers and CCLA Investment Management as investment managers. The charity has investments with a market value as of 31 March 2023 of £1,313,891 net of realisations to part fund property refurbishment (2022: £1,568,468). ## **Structure, governance and management** ## **a. Constitution** The property known as the Gravetye Estate was originally devised under the will of the late William Robinson to be utilised for the purposes of State Forestry. The William Robinson Charity (number 256766) was registered on 25 September 1968 and was established by a Scheme of the High Court (Chancery Division) on 13 July 1936 and a Scheme of 13 February 1959 as amended by a Scheme of the Commissioners of 16 July 2001. The William Robinson Gravetye Charity (number 1136242) was registered on 9 April 2009 and registered as a company limited by guarantee on 14 April 2009. The assets and liabilities of the former William Robinson Gravetye Charity (number 256766) were designated as The William Robinson Gravetye Charity (number 1136242-1) and subsumed as a subsidiary to charity 1136242 under a uniting direction on 24 November 2010. ## **b. Methods of appointment or election of trustees** The charity is governed by a board of trustees which meets at least four times a year. The trustees of the charity are appointed by its member. The board of trustees consists of nine trustees: two are non-executive Forestry Commissioners. Trustees are recruited to give the charity a broad base of experience and to bring a range of skills including environmental policy, property, forestry, horticulture, finance and leisure and community investment. Some trustees are recruited from the area local to Gravetye. All trustees are given a thorough induction session on the governance and operations of the charity. Training needs are continually monitored by the charity administrator to ensure the trustees are up to date with relevant information and requirements. Page 6 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Trustees' report (continued) for the year ended 31 March 2023** ## **Members' liability** The Forestry Commission is the sole member and subscriber to the company. Under clause 7 of the Memorandum of Association the member is liable to contribute a sum not exceeding £1 in the event of the company being wound up whilst a member or within one year after ceasing to be so. ## **Statement of trustees' responsibilities** The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of trustees and signed on their behalf by: **Julia Grant** Date: 17 July 2023 Page 7 William Robinson Gravetye Charity (A company limited by guarantee) Independent exaniiner's report for the year ended 31 March 2023 Independent examiner's repovt to the trustees of William Robinson Gr3vetye Charity ('the Company.) I repoll to the ch2rlty trustees on my examination of the accounts ol the charity for the year ended 31 Marth 2023. Responsibilities and basis of r8port As the trusrees of the charity land ir5 directors for che purposes of company lawl you are responsible for the preparatlon ol the accounts in accordance with the reguirernents of the Cofflpanie5 Act 20061'thÈ 2006 Act'l. Having sat15fied mysell that the acCo￿nts of the charity are not req¥ired to be audited under Part 16 01 the 2006 Act and are eligible lor independent examination. I repor¢ in respect of my examination of Ehe charlty tccounts carried out under sectiop 145 of the Chhrities Act 2011 I'the 201 l Act'l. In carrying out my examination I have followed tho dlrectlons giyen by the Charity CommSssion under sÈction 14515llbl of thÈ 201 l Act. Independent examiner's statement I have completed my examination. I confirm tha¢ no rna¢ter5 have come to rny attention In connection with the examination giving me cause co bEliÈve'. accounting records were not kept In respect of the charity as required by section 386 of the 2006 Act,. or the accr>unts do not accord wilh those record5', or the accounts do not comply with the atcounting requirements of section 396 01 the 2006 Act other than any requiremen¢ that the accounts give a 'trJe and fair, view which is not a matter considered as part of an independent examsnation.. or the actc>uncg have not been prepared in accordance with the methods and principles of the Staternent of Recommended PracLice for accounting and repor¢ing by charlties app11table to charities preparing their account5 In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns 3nd have CDme across no other matters In connection with the exafflination io which attention should be drawn in this report in order to enable a proper undÉrstanding of the 2ccount5 to be reached. Thi5 report is made solely ¢0 the charity's trustees, as a body, in accordanc2 with Part 4 of tha Charitles (Accounts and Reports) Regulations 2008. My work has beÈn ￿ndertaken so that I might state to the charity's IrusLees those rnatters I am required LO State 10 them in an independenc examlner's rÈport 2nd for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Ihe charity and the charity's trustees as a body, for Tny work or for thi5 report. Signed.. Dated- 17 july 2023 lain Morri5 FCA Chavereys F3versharn Page 8 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2023** |**Note**
**Income from:**
Grants
3
Charitable activities
4
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net (expenditure)/**
**income**
Net (losses)/gains on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward as previously stated
Prior year adjustment
Total funds brought forward as restated
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
**-**
**189,725**
**27,816**
**217,541**
**400,171**
**400,171**
**(182,630)**
**(54,577)**
**(237,207)**
**10,652,156**
**-**
**10,652,156**
**(237,207)**
**10,414,949**|**Total**
**funds**
**2023**
**£**
**-**
**189,725**
**27,816**
**217,541**
**400,171**
**400,171**
**(182,630)**
**(54,577)**
**(237,207)**
**10,652,156**
**-**
**10,652,156**
**(237,207)**
**10,414,949**|_Total_
_funds_
_2022_
_£_
_2,670_
_165,780_
_5_| |---|---|---|---| ||||_168,455_
_146,722_| ||||_146,722_
_21,733_
_236,493_| ||||_258,226_
_10,402,700_
_(8,770)_
_10,393,930_
_258,226_| ||||_10,652,156_| The statement of financial activities includes all gains and losses recognised in the year. The notes on pages 12 to 22 form part of these financial statements. Page 9 **William Robinson Gravetye Charity (A company limited by guarantee) Registered number: 06876284** ## **Balance sheet as at 31 March 2023** |**Note**
**Fixed assets**
Heritage assets
10
Investments
11
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one year
13
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
Gravetye Manor and estate
15
Buildings
15
Forestry and woodland
15
William Robinson Legacy
15
Dams and lakes
15
Free reserve
15
Total unrestricted funds
15
**Total funds**|**56,894**
**85,699**
**142,593**
**(41,536)**
**9,000,000**
**738,900**
**315,000**
**62,000**
**150,000**
**149,048**|**2023**
**£**
**9,000,000**
**1,313,891**
**10,313,891**
**101,057**
**10,414,948**
**10,414,948**
**10,414,948**
**-**
**10,414,948**
**10,414,948**|_27,778_
_99,316_
_127,094_
_(43,406)_
_9,000,000_
_-_
_-_
_-_
_-_
_1,652,156_|_2022_
_£_
_9,000,000_
_1,568,468_| |---|---|---|---|---| |||||_10,568,468_
_83,688_| |||||_10,652,156_| |||||_10,652,156_| |||||| |||||_10,652,156_| |||||_-_
_10,652,156_| |||||| |||||_10,652,156_| Page 10 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Balance sheet (continued) as at 31 March 2023** The charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the charity to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the trustees and signed on their behalf by: **Julia Grant** Date: 17 July 2023 The notes on pages 12 to 22 form part of these financial statements. Page 11 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **1. General information** The charity is a company limited by guarantee registered in England and Wales. The registered office is 34 Dalkeith Grove, Stanmore HA7 4SG ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The accounts are presented in pounds sterling and are rounded to the nearest £1. William Robinson Gravetye Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **2.2 Going concern** The trustees are not aware of any material matters that would lead to the reasonable conclusion that the charity is not a going concern and the financial statements are therefore prepared on this basis. ## **2.3 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income from the letting of heritage assets held by the charity is considered to be charitable income since the primary purpose for holding these assets is not for investment purposes. Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page 12 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **2. Accounting policies (continued)** ## **2.5 Heritage assets** Where heritage assets have been purchased, they are initially recognised at cost. After recognition, under the revaluation model, heritage assets are measured at fair value. ## **2.6 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(losses) on investments’ in the statement of financial activities. ## **2.7 Pensions** The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. ## **2.8 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. The land and buildings comprising the Gravetye Manor Estate constitute a permanent endowment of the charity. ## **3. Income from grants** ||**Restricted**|**Total**|_Total_| |---|---|---|---| ||**funds**|**funds**|_funds_| ||**2023**|**2023**|_2022_| ||**£**|**£**|_£_| |Woodland management plan|-|**-**|_2,670_| Page 13 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **4. Income from charitable activities** |Rental income from heritage assets
Sale of timber and other income|**Unrestricted**
**funds**
**2023**
**£**
155,019
34,706
189,725|**Total**
**funds**
**2023**
**£**
**155,019**
**34,706**
**189,725**|_Total_
_funds_
_2022_
_£_
_151,520_
_14,260_| |---|---|---|---| ||||_165,780_| ## **5. Investment income** |Income from listed investments
Bank interest|**Unrestricted**
**funds**
**2023**
**£**
27,811
5
27,816|**Total**
**funds**
**2023**
**£**
**27,811**
**5**
**27,816**|_Total_
_funds_
_2022_
_£_
_-_
_5_| |---|---|---|---| ||||_5_| ## **6. Analysis of charitable expenditure** |Charitable expenditure
_Total 2022_|**Direct costs**
**2023**
**£**
328,280
_106,435_|**Support and**
**governance**
**costs**
**2023**
**£**
71,891
_40,287_|**Total**
**funds**
**2023**
**£**
**400,171**
_146,722_|_Total_
_funds_
_2022_
_£_
_146,722_| |---|---|---|---|---| |||||| Page 14 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **6. Analysis of charitable expenditure (continued)** ## **Analysis of direct costs** |Estate
Forest
Lakes
Let property
Insurance
Irrecoverable VAT
Home Farm surrender of tenancy and cottage renovations|**Total**
**funds**
**2023**
**£**
**50,603**
**48,266**
**1,250**
**16,561**
**4,081**
**24,019**
**183,500**
**328,280**|_Total_
_funds_
_2022_
_£_
_9,195_
_23,547_
_49,512_
_18,962_
_3,705_
_1,514_
_-_| |---|---|---| |||_106,435_| ## **Analysis of support costs** |Staff costs
Office costs
Management fees
Professional fees
Trustees expenses (governance cost)
Independent examination (governance cost)
Training and conferences
Volunteer facilitation expenses|**Total**
**funds**
**2023**
**£**
**19,718**
**18,775**
**12,127**
**10,714**
**3,426**
**2,200**
**2,233**
**2,698**
**71,891**|_Total_
_funds_
_2022_
_£_
_5,837_
_14,041_
_10,800_
_6,736_
_673_
_2,200_
_-_
_-_| |---|---|---| |||_40,287_| **7. Staff costs** |Wages and salaries
Contribution to defined contribution pension schemes|**2023**
**£**
**19,325**
**393**
**19,718**|_2022_
_£_
_5,748_
_89_| |---|---|---| |||| |||_5,837_| Page 15 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **7. Staff costs (continued)** The average number of persons employed by the Company during the year was as follows: ||**2023**|_2022_| |---|---|---| ||**No.**|_No._| |General|**1.00**|_0.33_| No employee received remuneration amounting to more than £60,000 in either year. ## **8. Trustees' remuneration and expenses** During the year, no trustees received any remuneration or other benefits _(2022 - £NIL)_ . During the year ended 31 March 2023, expenses totalling _£_ 832 were reimbursed or paid directly to 3 trustees in respect of travel expenses for meetings. ## **9. Taxation** As a registered charity the company is not liable to corporation tax on investment income or gains nor income derived from its charitable activities. Page 16 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **10. Heritage assets** ## **Assets recognised at valuation** |Market value at 1 April 2021
**Market value at 31 March 2022**|**Gravetye**
**Manor and**
**estate**
**2023**
**£**
9,000,000| |---|---| ||| ||9,000,000| The estate was professionally valued at 31 March 2004 by RH & RW Clutton on the basis of unencumbered freehold interests and subject to existing tenancies. The valuation was subject to a desk top uprating at 31 March 2020 by RH & RW Clutton LLP based on existing leases and tenancies and on an existing use open market value basis. The original value of the estate on acquisition by the charity and subsequent costs to date are not known. ## **11. Fixed asset investments** |**Cost or valuation**
At 1 April 2022
Additions
Disposals
Revaluations
At 31 March 2023|**Listed**
**investments**
**£**
**1,568,468**
**1,250,000**
**(1,526,607)**
**22,030**
**1,313,891**| |---|---| All investments held are listed in the UK. The historic cost of the investments was £1,164,494 (2022: £577,964). ## **12. Debtors** |Trade debtors
Other debtors|**2023**
**£**
**35,475**
**21,419**
**56,894**|_2022_
_£_
_27,778_
_-_| |---|---|---| |||| |||_27,778_| Page 17 **William Robinson Gravetye Charity (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **13. Creditors: amounts falling due within one year** |Trade creditors
Other taxation and social security
Accruals and deferred income|**2023**
**£**
**3,399**
**5,374**
**32,763**
**41,536**|_2022_
_£_
_3,634_
_5,875_
_33,897_| |---|---|---| |||| |||_43,406_| ## **14. Prior year adjustments** A prior year adjustment was made in the previous accounting period to the comparative figures (2021) to increase the amount of irrecoverable VAT and to increase the closing VAT liability in the period to 31 March 2021 both by £8,770. The adjustment was made to reflect an under provision in those accounts for irrecoverable VAT. Page 18 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **15. Statement of funds** **Statement of funds - current year** |**Unrestricted**
**funds**
**Designated**
**funds**
Gravetye Manor
and estate
Buildings
Forestry and
woodland
William
Robinson
Legacy
Dams and lakes
**General funds**
**_Free reserve_**
**Total**
**Unrestricted**
**funds**|**Balance at 1**
**April 2022**
**£**
**9,000,000**
**-**
**-**
**-**
**-**
**9,000,000**
**1,652,156**
**10,652,156**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**217,540**
**217,540**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**(400,171)**
**(400,171)**|**Transfers**
**in/out**
**£**
**-**
**738,900**
**315,000**
**62,000**
**150,000**
**1,265,900**
**(1,265,900)**
**-**|**Gains/**
**(losses)**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**(54,577)**
**(54,577)**|**Balance at**
**31 March**
**2023**
**£**
**9,000,000**
**738,900**
**315,000**
**62,000**
**150,000**| |---|---|---|---|---|---|---| |||||||**10,265,900**| |||||||**149,048**
**10,414,948**| The Graveye Manor and estate designated fund represents the book value of heritage assets held by the charity. These had previously been shown in the accounts as a permanent endowment, however upon review the trustees do not consider this to be the correct treatment as the legal conditions to create an endowment are not believed to exist. However the purpose of the charity is the preserve the Gravetye Estate and the trustees do not regard this asset as readily realisable and it has therefore been reclassified as a designated fund not forming part of the free reserves of the charity. During the year the trustees have identified and provided for a number of new designated funds full details of which are disclosed in the trustees' report. These designated funds represent estate projects that can only be funded by the charity realising its investments. Page 19 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **15. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
**Designated funds**
Gravetye Manor and estate
**General funds**
Free reserve
**Total Unrestricted funds**
**Restricted funds**
Grant for woodlands
management plan
**Total of funds**|_As restated_
_Balance at_
_1 April 2021_
_£_
_9,000,000_
_1,393,930_
_10,393,930_
_-_
_10,393,930_|_Income_
_£_
_-_
_165,785_
_165,785_
_2,670_
_168,455_|_Expenditure_
_£_
_-_
_(144,052)_
_(144,052)_
_(2,670)_
_(146,722)_|_Gains/_
_(losses)_
_£_
_-_
_236,493_
_236,493_
_-_
_236,493_|_Balance at_
_31 March_
_2022_
_£_
_9,000,000_| |---|---|---|---|---|---| ||||||_1,652,156_| ||||||_10,652,156_| ||||||_-_| ||||||_10,652,156_| Page 20 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **16. Summary of funds** ## **Summary of funds - current year** |Designated funds
**_General funds -_**
**_free reserve_**|**Balance at 1**
**April 2022**
**£**
**9,000,000**
**1,652,156**
**10,652,156**|**Income**
**£**
**-**
**217,540**
**217,540**
_As restated_
_Balance at_
_1 April 2021_
_£_
_9,000,000_
_1,393,930_
_-_
_10,393,930_|**Expenditure**
**£**
**-**
**(400,171)**
**(400,171)**
_Income_
_£_
_-_
_165,785_
_2,670_
_168,455_|**Transfers**
**in/out**
**£**
**1,265,900**
**(1,265,900)**
**-**
_Expenditure_
_£_
_-_
_(144,052)_
_(2,670)_
_(146,722)_|**Gains/**
**(losses)**
**£**
**-**
**(54,577)**
**(54,577)**
_Gains/_
_(losses)_
_£_
_-_
_236,493_
_-_
_236,493_|**Balance at**
**31 March**
**2023**
**£**
**10,265,900**
**149,048**| |---|---|---|---|---|---|---| |||||||**10,414,948**
_Balance at_
_31 March_
_2022_
_£_
_9,000,000_
_1,652,156_
_-_| |**Summary of funds - prior year**||||||| |Designated funds
**_General funds - free reserve_**
Restricted funds||||||| |||||||_10,652,156_| Page 21 **William Robinson Gravetye Charity** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **17. Pension commitments** The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable to the fund and amounted to £393 (2022 - £89) were payable to the fund at the balance sheet date and are included in creditors. ## **18. Related party transactions** The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 March 2023. Page 22