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 2024
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 - 8 |
| Independent auditors' report on the financial statements | 9 - 12 |
| Statement of financial activities | 13 |
| Balance sheet | 14 - 15 |
| Notes to the financial statements | 16 - 27 |
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 2024
| Trustees | Julia Grant, Chair |
|---|---|
| Mary Barkham (resigned 22 October 2023) | |
| Martin Bellamy | |
| Hugh Bullock | |
| Belinda Gordon | |
| Peter Latham OBE | |
| Richard Leman OBE | |
| Gillian Sandham (resigned 22 October 2023) | |
| Julian van Kan | |
| Company registered number Charity registered number Registered office Company secretary Independent auditors Bankers Estate managers Investment managers |
06876284 1136242 34 Dalkeith Grove Stanmore HA7 4SG Mrs Sheila Taylor Chavereys Audit Limited The Goods Shed 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 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 2024
The trustees present their annual report together with the audited financial statements of the charity for the period 1 April 2023 to 31 March 2024. 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 have set a priority schedule for each of the various projects. This was detailed in the report for the previous year and is updated herein. These are major projects, and the costs exceed the estimated cash flow for the forseeable future. Hence, the trustees continue to consider and implement alternative strategies 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 2024
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.
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Restoring and improving the woodland and the associated lakes and landscape features;
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Developing a comprehensive understanding of the biodiversity on the estate to develop a sustainable plan for management and improvement;
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Overseeing the leasing of the historic properties including Gravetye Manor, which operates as a hotel;
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Developing a community volunteeering and schools programme to inspire, educate and involve people in making a postive impact; and
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Improving the physical condition and signage of footpaths and forest tracks for the public to enjoy with free accessible parking areas.
A substantial refurbishment of the farmhouse, Home Farm Cottage, has been completed and the old dairy has been converted into an education center and serves as a hub for our volunteering outreach. Work has commenced on the renovation of Moat Cottage to prepare it for rental before year end.
Other traditional buildings are now being renovated and let to local enterprises involved in the arts and land management. The process of conducting a survey of farmland has started 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/running 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:
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i. Finance and General Purposes Group – recently set up to advance financial and administrative work as the charity expands its activities;
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ii. Property Advisory Group – principal focus on improvements to the physical assets of the estate; and
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iii. Forest Advisory Group - planning and implementing improvements to the forested areas and vistas.
The key achievements from this work during the year were:
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Continuing 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. A new joint initiative with the Gravetye Manor enables the public to visit the historic gardens around the hotel on a weekly basis;
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The implementation of a Woodland Management Plan to harness knowledge and research to trial climate change and disease resilient tree species and planting techniques. Following clearance of Norway Spruce that was infected by Ips Typographus beetle, we have replanted with Western Red Cedar and Douglas Fir. While producing a commercial crop for the future, this will also improve the resilence of the woodlands. The area of Corsican Pine has been heavily thinned to reduce the effect of dothistroma needle blight, and to allow for some natural regeneration. We are planning to start a forest resilence and biodiversity trial involving broadleaves and conifers with Forest Research as part of the OptFORESTS project;
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Improving biodiversity within the estate such as partnering with The Newt Conservation Partnership to restore an important pond near Lower Lake and to develop other similar conservation opportunities and putting in place a long term strategy for ecological enhancement including partnering with the Ashdown Forest Conservators and the Weald to Waves Sussex Recovery Corridor; and
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Proactive stewardship of historic assets, including Gravetye Manor, as a legacy to Willian Robinson. Using events hosted by the likes of the RHS Wisley (July – Aug 2024) show casing William Robinson: Wild Gardener to increase donors and others awareness of the works of the charity.
Page 3
William Robinson Gravetye Charity
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 March 2024
Achievements and performance (continued)
b. Development
Whilst we strive to explore and expand the revenue channels to ensure the sustainability of the charity, we remain focused on engaging people and visitors with our mission and vision.
We have achieved this through expanding our educational and volunteering programme, including a SEND offer, as well as through our community events programme and outreach sessions to encourage people to connect with nature. We provide inspiring and creative educational opportunities for people who visit us.
Our focus for 2023-24 was on the following three outcomes: Connecting people with nature; ensuring a wider range of people are involved in nature; helping people have greater wellbeing; and enabling people to learn about nature, leading to a change in mindsets and opportunities.
Our aim has been to increase the number of people engaging with Gravetye Estate and facilitating opportunities for individuals to visit and interact with us regularly, enabling cumulative learning. These opportunities have included educational sessions for young people of all abilities and our community programme welcoming the public.
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In the last year visitors and students of all ages and abilities interacted with Gravetye Estate. This included:
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Community volunteers – 144 attendees providing over 6,000 hours of help
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Secondary schools – students from Sackville School, Lingfield College and Imberhorne School
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Primary schools – Estcots Primary School and St Mary’s CofE School
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Special Educational Needs and Disabilities (SEND) – Sackville School, Imberhorne School Gardening Club and Philpots Special School
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Scouts/Guides – children from 1[st] West Hoathly Scouts
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Duke of Edinburgh Award Scheme – over 5,000 young people utilised the estate as part of their bronze and silver awards
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Corporate volunteering days – LexisNexis Risk Solutions, Northern Trust and Roche Diagnostics Ltd.
We have partnered with Weald to Waves and we are developing mutually beneficial relationships with the Royal Horticultural Society, Conservators of Ashdown Forest, Sussex Wildlife Trust, Sussex Ornithology Society, Nature England, Lees Court Estate, University of Brighton, Sussex University as well as Forest Research.
As a charity we also count on the funding we receive from donors. This helps us meet the objectives of maintaining and developing the estate in accordance with William Robinson’s legacy. We extend our gratitude to the funding made available by Lochlands Trust, Lawson Trust and the Swire Charitable Trust.
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. In addition, he is overseeing the implementation of the Woodland Management Plan under the direction of the Forest Advisory Group.
Page 4
William Robinson Gravetye Charity
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 March 2024
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 incured a deficit of £9,793 (2023: deficit £182,630) before unrealised gains on revaluation of its investments of £125,179 (2023: loss £54,577) resulting in a net gain in funds of £115,386 (2023: loss £237,207).
Page 5
William Robinson Gravetye Charity
(A company limited by guarantee)
Trustees’ report (continued)
for the year ended 31 March 2024
c. Unrestricted but Designated Reserves
The charity has free reserves of £91,266 (2023: £101,058) (free reserves are defined by the charity as equal to net current assets). A considerable amount of expenditure is required to maintain the existing property assets and wider estate (eg: replanting woodland which has been devasted by pest and/or disease). The trustees have identified the following specific projects for which existing reserves have been designated and have been adjusted by inflation. These were first reported in the previous year’s accounts with most projects already commenced and/or ongoing.
| Area | Expected costs @ 3/2023 |
Adjusted costs @3/2024 |
Expenditure to **date *** |
Timing |
|---|---|---|---|---|
| Buildings - Volunteer access £65,000 £68,250 £24,500 2023/24 - Moat Cottage renovations £150,000 £157,500 £84,065 2024/25 - Solar installation £50,000 £52,500 £nil 2024/25 - Estate property repair and refurbishment £473,900 £497,595 £90,734 2024/25 Forestry/woodland – developing resilient forest £315,000 £330,750 £23,208 2023-28 William Robinson woodland Legacy £62,000 £65,100 £nil 2023-28 Dams & lakes - contingency £150,000 £157,500 £nil 2023-28 |
||||
| TOTAL £1,265,900 £1,329,195 £222,507 |
(* all costs were incurred in 2023/24 financial year except Moat Cottage which has occurred since)
The current 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 forestry expenditure will occur later this year and for the next 2 years as replanting gets underway and new tracks laid. The same applies for property repair. Given the importance of volunteers and increasing access for schools and other visitors, there has been a focus on this area with the work done on the Old Dairy to provide a meeting place as well as signage etc.
The total cost of the designated and other projects, based on 2023 prices/costs will consume our available liquid assets resulting in us having insufficient provisions to comply with our stated liquidity ratios. Thus, there remains the need for judicious planning and prioritising to focus on those projects that be funded and will deliver immediate revenue.
Page 6
William Robinson Gravetye Charity
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 March 2024
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, dothistroma and chalara.
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 and climate 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. These funds are managed in accordance with the trustees' investment policy, as well as ESG criteria and compatability.
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 Estate. 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.
During the year two trustees, Gillian Sandham and Mary Barkham, came to the end of their terms. We owe them a tremendous thank you for their contribution and vision to the charity and in the building on the legacy of William Robinson.
Page 7
William Robinson Gravetye Charity
(A company limited by guarantee)
Trustees' report (continued) for the year ended 31 March 2024
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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.
Disclosure of information to auditors
Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:
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so far as that trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Chavereys Audit Limited, have indicated their willingness to continue in office. The designated trustees will propose a motion reappointing the auditors at a meeting of the trustees.
Approved by order of the members of the board of trustees and signed on their behalf by:
Julia Grant
Date: 11 July 2024
Page 8
William Robinson Gravetye Charity
(A company limited by guarantee)
Independent auditors' report to the Members of William Robinson Gravetye Charity
Opinion
We have audited the financial statements of William Robinson Gravetye Charity (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees' with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 9
William Robinson Gravetye Charity
(A company limited by guarantee)
Independent auditors' report to the Members of William Robinson Gravetye Charity (continued)
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a Strategic report.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 10
William Robinson Gravetye Charity
(A company limited by guarantee)
Independent auditors' report to the Members of William Robinson Gravetye Charity (continued)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the financial statements, including how fraud may occur by enquiring of management of its own consideration of fraud. In particular, we looked at where management made subjective judgements, for example in respect of significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We also considered potential financial or other pressures, opportunity and motivations for fraud. As part of this discussion we identified the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of manual journals and key estimates and judgements made by management.
We gained an understanding of the legal and regulatory framework applicable to the charity and the sector in which it operates, drawing on our broad sector experience, and considered the risk of acts by the charity that were contrary to these laws and regulations, including fraud.
We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Charities Act 2011.
We made enquiries of management with regards to compliance with the above laws and regulations and corroborated any necessary evidence to relevant information.
Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management.
We did not identify any key audit matters relating to irregularities, including fraud. As in all of our audits, we also addressed the risk of management override of internal controls including testing journals and evaluation whether there was evidence of bias by the management that represented a risk of material misstatement due to fraud. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Other matters
In the year ended 31 March 2023 the charity satisfied the audit exemption criteria and therefore the comparative figures in these accounts were not audited.
Page 11
William Robinson Gravetye Charity
(A company limited by guarantee)
Independent auditors' report to the Members of William Robinson Gravetye Charity (continued)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Chowreregst
Chavereys Audit Limited
Faversham
17 July 2024
Page 12
William Robinson Gravetye Charity
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2024
| Note Income from: Grants 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net (expenditure)/ income Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 3,912 234,294 33,099 271,305 287,961 287,961 (16,656) 125,179 108,523 10,414,949 108,523 10,523,472 |
Restricted funds 2024 £ 23,951 - - 23,951 17,088 17,088 6,863 - 6,863 - 6,863 6,863 |
Total funds 2024 £ 27,863 234,294 33,099 295,256 305,049 305,049 (9,793) 125,179 115,386 10,414,949 115,386 10,530,335 |
Total funds 2023 £ - 189,725 27,816 |
|---|---|---|---|---|
| 217,541 400,171 |
||||
| 400,171 (182,630) (54,577) |
||||
| (237,207) 10,652,156 (237,207) |
||||
| 10,414,949 |
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 27 form part of these financial statements.
Page 13
William Robinson Gravetye Charity (A company limited by guarantee) Registered number: 06876284
Balance sheet as at 31 March 2024
| 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 14 Unrestricted funds Gravetye Manor and estate 14 Buildings 14 Forestry and woodland 14 William Robinson Legacy 14 Dams and lakes 14 General funds 14 Total unrestricted funds 14 Total funds |
33,236 108,043 141,279 (50,013) 9,000,000 660,611 307,542 65,100 157,500 332,720 |
2024 £ 9,000,000 1,439,070 10,439,070 91,266 10,530,336 10,530,336 10,530,336 6,863 10,523,473 10,530,336 |
56,894 85,700 142,594 (41,536) 9,000,000 738,900 315,000 62,000 150,000 149,049 |
2023 £ 9,000,000 1,313,891 |
|---|---|---|---|---|
| 10,313,891 101,058 |
||||
| 10,414,949 | ||||
| 10,414,949 | ||||
| 10,414,949 | ||||
| - 10,414,949 |
||||
| 10,414,949 |
Page 14
William Robinson Gravetye Charity (A company limited by guarantee)
Balance sheet (continued) as at 31 March 2024
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: 11 July 2024
The notes on pages 16 to 27 form part of these financial statements.
Page 15
William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
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 16
William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
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
| Donations Grants |
Unrestricted funds 2024 £ 3,912 - 3,912 |
Restricted funds 2024 £ - 23,951 23,951 |
Total funds 2024 £ 3,912 23,951 27,863 |
Total funds 2023 £ - - |
|---|---|---|---|---|
| - |
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William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
4. Income from charitable activities
| Rental income from heritage assets Sale of timber and other income |
Unrestricted funds 2024 £ 198,302 35,992 234,294 |
Total funds 2024 £ 198,302 35,992 234,294 |
Total funds 2023 £ 155,019 34,706 |
|---|---|---|---|
| 189,725 |
5. Investment income
| Income from listed investments Bank interest |
Unrestricted funds 2024 £ 32,382 717 33,099 |
Total funds 2024 £ 32,382 717 33,099 |
Total funds 2023 £ 27,811 5 |
|---|---|---|---|
| 27,816 |
6. Analysis of charitable expenditure
| Charitable expenditure Total 2023 |
Direct costs 2024 £ 209,086 328,280 |
Support and governance costs 2024 £ 95,963 71,891 |
Total funds 2024 £ 305,049 400,171 |
Total funds 2023 £ 400,171 |
|---|---|---|---|---|
Page 18
William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
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 2024 £ 32,358 56,046 720 18,091 5,938 12,282 83,651 209,086 |
Total funds 2023 £ 50,603 48,266 1,250 16,561 4,081 24,019 183,500 |
|---|---|---|
| 328,280 |
Analysis of support costs
| Staff costs Office costs Advertising and media Management fees Professional fees Trustees expenses (governance cost) Accountancy (governance cost) Audit (governance cost) Training and conferences Volunteer facilitation expenses |
Total funds 2024 £ 21,157 11,688 5,962 18,453 16,428 3,831 2,458 5,000 - 10,986 95,963 |
Total funds 2023 £ 19,718 18,775 - 12,127 10,714 3,426 2,200 - 2,233 2,698 |
|---|---|---|
| 71,891 |
Page 19
William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
7. Staff costs
| Wages and salaries Contribution to defined contribution pension schemes |
2024 £ 20,163 993 21,156 |
2023 £ 19,325 393 |
|---|---|---|
| 19,718 |
The average number of persons employed by the company during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| General | 1.00 | 1.00 |
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 (2023 - £NIL) .
During the year ended 31 March 2024, expenses totalling £ 1,147 (2023: £832) were reimbursed or paid directly to 4 (2023: 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.
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William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
10. Heritage assets
Assets recognised at valuation
| Market value at 1 April 2023 Market value at 31 March 2024 |
Gravetye Manor and estate 2024 £ 9,000,000 |
|---|---|
| 9,000,000 |
The estate was professionally valued at 31 March 2024 by RH & RW Clutton on the basis of unencumbered freehold interests and subject to existing tenancies.
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 2023 Revaluations At 31 March 2024 |
Listed investments £ 1,313,891 125,179 |
|---|---|
| 1,439,070 |
All investments held are listed in the UK. The historic cost of the investments was £1,164,494 (2023: £1,164,494).
12. Debtors
| Trade debtors Other debtors Prepayments and accrued income |
2024 £ 28,756 4,216 264 33,236 |
2023 £ 35,475 21,419 - |
|---|---|---|
| 56,894 |
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William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
13. Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income |
2024 £ 9,072 2,817 38,124 50,013 |
2023 £ 3,399 5,374 32,763 |
|---|---|---|
| 41,536 |
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William Robinson Gravetye Charity (A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
14. 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 Undesignated funds Total Unrestricted funds Restricted funds Grant for woodlands management plan School sessions and volunteer hub Volunteer coordinator salary |
Balance at 1 April 2023 £ 9,000,000 738,900 315,000 62,000 150,000 10,265,900 149,049 10,414,949 - - - |
Income £ - - - - - - 271,306 271,306 1,180 3,000 6,000 |
Expenditure £ - (115,234) (23,208) - - (138,442) (149,519) (287,961) (1,180) (2,851) (2,214) |
Transfers in/out £ - 36,945 15,750 3,100 7,500 63,295 (63,295) - - - - |
Gains/ (Losses) £ - - - - - - 125,179 125,179 - - - |
Balance at 31 March 2024 £ 9,000,000 660,611 307,542 65,100 157,500 |
|---|---|---|---|---|---|---|
| 10,190,753 | ||||||
| 332,720 10,523,473 |
||||||
| - 149 3,786 |
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William Robinson Gravetye Charity (A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
14. Statement of funds (continued)
Statement of funds - current year (continued)
| House Martins conversion Sundry small funds < £1,000 Total of funds |
Balance at 1 April 2023 £ - - - 10,414,949 |
Income £ 10,821 2,950 23,951 295,257 |
Expenditure £ (8,965) (1,878) (17,088) (305,049) |
Transfers in/out £ - - - - |
Gains/ (Losses) £ - - - 125,179 |
Balance at 31 March 2024 £ 1,856 1,072 |
|---|---|---|---|---|---|---|
| 6,863 | ||||||
| 10,530,336 |
The Gravetye 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.
Page 24
William Robinson Gravetye Charity (A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Gravetye Manor and estate Buildings Forestry and woodland William Robinson Legacy Dams and lakes General funds Undesignated Funds Total Unrestricted funds |
Balance at 1 April 2022 £ 9,000,000 - - - - 9,000,000 1,652,156 10,652,156 |
Income £ - - - - - - 217,541 217,541 |
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 | ||||||
| 149,049 | ||||||
| 10,414,949 |
Page 25
William Robinson Gravetye Charity (A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
15. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds Summary of funds - prior year Designated funds General funds |
Balance at 1 April 2023 £ 10,265,900 149,049 - 10,414,949 Balance at 1 April 2022 £ 9,000,000 1,652,156 10,652,156 |
Income £ - 271,306 23,951 295,257 Income £ - 217,541 217,541 |
Expenditure £ (138,442) (149,519) (17,088) (305,049) Expenditure £ - (400,171) (400,171) |
Transfers in/out £ 63,295 (63,295) - - Transfers in/out £ 1,265,900 (1,265,900) - |
Gains/ (Losses) £ - 125,179 - 125,179 Gains/ (Losses) £ - (54,577) (54,577) |
Balance at 31 March 2024 £ 10,190,753 332,720 6,863 |
|---|---|---|---|---|---|---|
| 10,530,336 | ||||||
| Balance at 31 March 2023 £ 10,265,900 149,049 |
||||||
| 10,414,949 |
Page 26
William Robinson Gravetye Charity
(A company limited by guarantee)
Notes to the financial statements for the year ended 31 March 2024
16. 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.
17. 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 2024.
Page 27