**REGISTERED COMPANY NUMBER: 06859885 (England and Wales) REGISTERED CHARITY NUMBER: 1147757** ## **Report of the Trustees and** **Unaudited Financial Statements** **For The Year Ended 31 March 2021** ## **for** **Forest of Dean Buildings Preservation Trust** Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN **Forest of Dean Buildings Preservation Trust** ## **Contents of the Financial Statements For The Year Ended 31 March 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|2| |**Independent Examiner's Report**||3|| |**Statement of Financial Activities**||4|| |**Balance Sheet**|5|to|6| |**Notes to the Financial Statements**|7|to|12| |**Detailed Statement of Financial Activities**||13|| **Forest of Dean Buildings Preservation Trust** ## **Report of the Trustees For The Year Ended 31 March 2021** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** ## Objectives and aims. The objects of the Forest of Dean Buildings Preservation Trust are to preserve for the benefit of the people of the Forest of Dean District and of the Nation, the historical, architectural and constructional heritage that may exist in and around the Forest of Dean District in its land and buildings (including any structure or erection, and any part of a building as so defined) of particular beauty or historical, architectural or constructional interest. ## Our Vision Our passion is for a community where the area's heritage assets are valued and sustainably preserved for the benefit, education and enjoyment of current and future generations. The activity of the Trust has focused Gunns Mill and Whitecliff Furnace. Individual trustees have been made responsible for carrying out regular safety inspections. Gunns Mill has taken up the majority of time and resources throughout the past year. Safety has been considered by the trustees and appropriate procedures set in place. ## Gunns Mill The work of the trustees has been concerned with continuing works to conserve the site including the main building, checking the scaffolding and polythene which stabilise and protect it. Major repair work to selected walls within the wheelpit was completed and scaffolding altered to enable access to the wheelpit. Edwina Bell acting as consultant managed this phase of repair work. Kate Biggs successfully applied for further funding for a phase of structural works to the north wall with a grant from Historic England. Enabling works and discussion has taken place with regards to repairs for the north wall and this will be undertaken during 2021. David Viner has been liaising with contractors on site and has been responsible for maintaining the site with a group of volunteers throughout the year. Discussions regarding a major grant partnership with the Forest of Dean District Council are under consideration. Whitecliff The site remains freely accessible to the public. Access to Furnace Cottage is adjacent to the cottage and has been improved under the guidance of Alan Ockendon; the main entrance is used for pedestrian access only. A plaque commemorating the sites associations with the Mushet's was voted for by the Forester's Forest Landscape Partnership Scheme. The grounds continue to be maintained by the tenants of the cottage. Work has been progressing to update services and tenancy agreements with the tenants. ## Lancaut Church The site continues to be open access for the public, with general maintenance of the grounds undertaken by David Viner and the volunteers and with the help of the Gloucestershire Wildlife Trust. No Church service was held this year due to the Corona virus lockdown. A walking leaflet giving information and guidance for the ancient Churches of the Wye Valley centred around Lancaut was published as a partnership between the Wye Valley Area of Outstanding Natural Beauty and the Trust with remaining funding from NHLF. Clearwell Chapel Negotiations are ongoing regarding the acquisition of Clearwell Mortuary Chapel from the Diocese of Gloucester. This has been led by Sinclair Johnston. ## Events The Trust opened Gunns Mill for Heritage 'Open Doors' in September 2019 and gave guided tours over 100 people attended. The Trust also attended the Forest Showcase in October 2019, a very well attended event for engagement with the community. Page 1 **Forest of Dean Buildings Preservation Trust** ## **Report of the Trustees For The Year Ended 31 March 2021** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 06859885 (England and Wales) ## **Registered Charity number** 1147757 ## **Registered office** The Security Office Whitecliff Quarry Whitecliff Coleford Gloucestershire GL16 8NB ## **Trustees** K M Biggs W A Parker Trustee Mrs L V Stevens Trustee Dr J Berry A C Ockenden M/s S J Seymour D Viner J S Johnston H L R David M/s K Graham ## **Company Secretary** Mrs L V Stevens ## **Independent Examiner** Paul A Reynaert ACA ICAEW Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN Approved by order of the board of trustees on 14 September 2021 and signed on its behalf by: K M Biggs - Trustee Page 2 ## **Independent Examiner's Report to the Trustees of Forest of Dean Buildings Preservation Trust** ## **Independent examiner's report to the trustees of Forest of Dean Buildings Preservation Trust ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Paul A Reynaert ACA ICAEW Kingscott Dix Limited Chartered Accountants Goodridge Court Goodridge Avenue Gloucester Gloucestershire GL2 5EN 20 September 2021 Page 3 ## **Forest of Dean Buildings Preservation Trust** ## **Statement of Financial Activities For The Year Ended 31 March 2021** |||||31.3.21|31.3.20| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Total| |||fund|funds|funds|funds| ||Notes|£|£|£|£| |**INCOME AND ENDOWMENTS FROM**|||||| |Donations and legacies||199|28,576|28,775|70,758| |Investment income|2|16|3,000|3,016|3,067| |**Total**||215|31,576|31,791|73,825| |**EXPENDITURE ON**|||||| |Raising funds|3|-|80,582|80,582|44,537| |**Charitable activities**|||||| |Furnace Cottage Costs||-|604|604|-| |Promotion||130|-|130|53| |Other||534|1,096|1,630|912| |**Total**||664|82,282|82,946|45,502| |**NET INCOME/(EXPENDITURE)**||(449)|(50,706)|(51,155)|28,323| |**RECONCILIATION OF FUNDS**|||||| |**Total funds brought forward**||203|139,439|139,642|111,319| |**TOTAL FUNDS CARRIED FORWARD**||(246)|88,733|88,487|139,642| The notes form part of these financial statements Page 4 ## **Forest of Dean Buildings Preservation Trust** ## **Balance Sheet 31 March 2021** |Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
7
-
Heritage assets
8
-
-
**CURRENT ASSETS**
Cash at bank
16
**CREDITORS**
Amounts falling due within one year
9
(262)
**NET CURRENT ASSETS/(LIABILITIES)**
(246)
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
(246)
**NET ASSETS**
(246)
**FUNDS**
11
Unrestricted funds:
General fund
Restricted funds:
Whitecliff Furnace
Lancaut Church
Gunns Mill
**TOTAL FUNDS**|Restricted
funds
£
1,578
40,404
41,982
55,398
(8,647)
46,751
88,733
88,733|31.3.21
Total
funds
£
1,578
40,404
41,982
55,414
(8,909)
46,505
88,487
88,487
(246)
8,529
27,322
52,882
88,733
88,487|31.3.20
Total
funds
£
2,367
40,404
42,771
100,684
(3,813)
96,871
139,642
139,642
203
7,393
27,777
104,269
139,439
139,642| |---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 5 continued... **Forest of Dean Buildings Preservation Trust** ## **Balance Sheet - continued 31 March 2021** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 14 September 2021 and were signed on its behalf by: K M Biggs - Trustee The notes form part of these financial statements Page 6 **Forest of Dean Buildings Preservation Trust** ## **Notes to the Financial Statements For The Year Ended 31 March 2021** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Heritage assets** The Trust holds Whitecliff Furnace and Furnace Cottage, Gunns Mill Furnace and Lancaut Church (Church of St James) as Heritage Assets. The trustees do not consider any valuation can be ascribed to these properties in view of their unique historical importance. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Heritage assets** Whitecliff Furnace is an asset of historical importance, being a rare example of an early coke fired furnace. which is held by the Trust for its conservation for its educational value.This heritage asset is not capable of valuation and was gifted to the Trust. Gunns Mill, which has also been gifted to the Trust, is a unique 17th Century blast furnace and therefore has no readily available valuation. The Church of St James, Lancaut is a Grade II listed building with the site of a scheduled monument. The church dates back to 625AD. Again the Church was gifted and has no readily ascertainable value. The costs of the conservation of these properties is expensed to the income and expenditure account. Page 7 continued... **Forest of Dean Buildings Preservation Trust** ## **Notes to the Financial Statements - continued For The Year Ended 31 March 2021** ## **2. INVESTMENT INCOME** ||31.3.21|31.3.20| |---|---|---| ||£|£| |Rents received|3,000|3,003| |Interest receivable - trading|16|64| ||3,016|3,067| |**RAISING FUNDS**||| |**Investment management costs**||| ||31.3.21|31.3.20| ||£|£| |Light & Heat|230|134| |Property repairs|79,564|41,641| |Depreciation|788|788| ||80,582|42,563| |**NET INCOME/(EXPENDITURE)**||| |Net income/(expenditure) is stated after charging/(crediting):||| ||31.3.21|31.3.20| ||£|£| |Other assurance services|600|900| |Depreciation - owned assets|789|788| ## **3. RAISING FUNDS** ## **4. NET INCOME/(EXPENDITURE)** ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. ## **6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
800
Investment income
64
**Total**
864
**EXPENDITURE ON**
Raising funds
2,367
**Charitable activities**
Promotion
53|Restricted
funds
£
69,958
3,003
72,961
42,170
-|Total
funds
£
70,758
3,067| |---|---|---| |||73,825
44,537
53| Page 8 continued... ## **Forest of Dean Buildings Preservation Trust** ## **Notes to the Financial Statements - continued For The Year Ended 31 March 2021** |**6.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|| |---|---|---|---|---| |||Unrestricted|Restricted|Total| |||fund|funds|funds| |||£|£|£| ||Other|162|750|912| ||**Total**|2,582|42,920|45,502| ||**NET INCOME/(EXPENDITURE)**|(1,718)|30,041|28,323| ||**Transfers between funds**|450|(450)|-| ||**Net movement in funds**|(1,268)|29,591|28,323| ||**RECONCILIATION OF FUNDS**|||| ||**Total funds brought forward**|1,471|109,848|111,319| ||**TOTAL FUNDS CARRIED FORWARD**|203|139,439|139,642| |**7.**|**TANGIBLE FIXED ASSETS**|||| |||||Plant and| |||||machinery| |||||£| ||**COST**|||| ||At 1 April 2020 and 31 March 2021|||3,155| ||**DEPRECIATION**|||| ||At 1 April 2020|||788| ||Charge for year|||789| ||At 31 March 2021|||1,577| ||**NET BOOK VALUE**|||| ||At 31 March 2021|||1,578| ||At 31 March 2020|||2,367| ## **8. HERITAGE ASSETS** The costs represent work done to offer public access to the Gunns Mill Property. The property itself is a blast furnace and is a unique survival from the 17th Century was gifted and has an unascertainable value. Page 9 continued... ## **Forest of Dean Buildings Preservation Trust** ## **Notes to the Financial Statements - continued For The Year Ended 31 March 2021** |**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 10)
Trade creditors
Accrued expenses
**10.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
**11.**
**MOVEMENT IN FUNDS**
At 1.4.20
£
**Unrestricted funds**
General fund
203
**Restricted funds**
Whitecliff Furnace
7,393
Lancaut Church
27,777
Gunns Mill
104,269
139,439
**TOTAL FUNDS**
139,642
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
215
**Restricted funds**
Whitecliff Furnace
3,000
Lancaut Church
-
Gunns Mill
28,576
31,576
**TOTAL FUNDS**
31,791|31.3.21
31.3.20
£
£
8,310
-
(1)
3,213
600
600
8,909
3,813
31.3.21
31.3.20
£
£
8,310
-
Net
movement
At
in funds
31.3.21
£
£
(449)
(246)
1,136
8,529
(455)
27,322
(51,387)
52,882
(50,706)
88,733
(51,155)
88,487
Resources
Movement
expended
in funds
£
£
(664)
(449)
(1,864)
1,136
(455)
(455)
(79,963)
(51,387)
(82,282)
(50,706)
(82,946)
(51,155)| |---|---| Page 10 continued... **Forest of Dean Buildings Preservation Trust** ## **Notes to the Financial Statements - continued For The Year Ended 31 March 2021** ## **11. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Whitecliff Furnace
Lancaut Church
Gunns Mill
**TOTAL FUNDS**|At 1.4.19
£
1,471
13,120
34,482
62,246
109,848
111,319|Net
movement
in funds
£
(1,718)
(5,577)
(6,555)
42,173
30,041
28,323|Transfers
between
funds
£
450
(150)
(150)
(150)
(450)
-|At
31.3.20
£
203
7,393
27,777
104,269
139,439
139,642| |---|---|---|---|---| Comparative net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|864|(2,582)|(1,718)| |**Restricted funds**|||| |Whitecliff Furnace|3,298|(8,875)|(5,577)| |Lancaut Church|-|(6,555)|(6,555)| |Gunns Mill|69,663|(27,490)|42,173| ||72,961|(42,920)|30,041| |**TOTAL FUNDS**|73,825|(45,502)|28,323| A current year 12 months and prior year 12 months combined position is as follows: |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.4.19|in funds|funds|31.3.21| ||£|£|£|£| |**Unrestricted funds**||||| |General fund|1,471|(2,167)|450|(246)| |**Restricted funds**||||| |Whitecliff Furnace|13,120|(4,441)|(150)|8,529| |Lancaut Church|34,482|(7,010)|(150)|27,322| |Gunns Mill|62,246|(9,214)|(150)|52,882| ||109,848|(20,665)|(450)|88,733| |**TOTAL FUNDS**|111,319|(22,832)|-|88,487| Page 11 continued... **Forest of Dean Buildings Preservation Trust** ## **Notes to the Financial Statements - continued For The Year Ended 31 March 2021** ## **11. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement| |---|---|---|---| ||resources|expended|in funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|1,079|(3,246)|(2,167)| |**Restricted funds**|||| |Whitecliff Furnace|6,298|(10,739)|(4,441)| |Lancaut Church|-|(7,010)|(7,010)| |Gunns Mill|98,239|(107,453)|(9,214)| ||104,537|(125,202)|(20,665)| |**TOTAL FUNDS**|105,616|(128,448)|(22,832)| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2021. ## **13. GUARANTEE BY MEMBERS** Every member of the company promises that in the event of the Charity being wound up they will pay £1 towards the costs of that winding up and any liabilities incurred by the Charity to the extent those liabilities arose while they were a member. ## **14. RESTRICTED FUNDS** The Restricted Fund for each property relates to monies specifically given towards the preservation of the Heritage properties and the accumulation of any income they generate. Page 12 **Forest of Dean Buildings Preservation Trust** |**Detailed Statement of Financial Activities**||| |---|---|---| |**For The Year Ended 31 March 2021**||| ||31.3.21|31.3.20| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Gifts|-|2| |Donations|900|798| |Grants|27,875|69,958| ||28,775|70,758| |**Investment income**||| |Rents received|3,000|3,003| |Interest receivable - trading|16|64| ||3,016|3,067| |**Total incoming resources**|31,791|73,825| |**EXPENDITURE**||| |**Investment management costs**||| |Light & Heat|230|134| |Property repairs|79,564|41,641| |Plant and machinery|788|788| ||80,582|42,563| |**Charitable activities**||| |Advertising|130|53| |**Support costs**||| |**Management**||| |Insurance|1,399|1,390| |Postage and stationery|143|290| |Sundries|92|306| ||1,634|1,986| |**Governance costs**||| |Auditors' remuneration for non audit work|600|900| |Total resources expended|82,946|45,502| |**Net (expenditure)/income**|(51,155)|28,323| This page does not form part of the statutory financial statements Page 13