**REGISTERED COMPANY NUMBER: 08349936 (England and Wales) REGISTERED CHARITY NUMBER: 1151919**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FOR**
## **WYMERING MANOR TRUST**
**WYMERING MANOR TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
||Page|
|---|---|
|Report of the Trustees|1 to 4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7 to 8|
|Notes to the Financial Statements|9 to 14|
## **WYMERING MANOR TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objects and Aims**
The objects of the charity are specifically to preserve for the benefit of the people of the City of Portsmouth in Hampshire and of the nation, the historic building known as Wymering Manor.
## **Activities**
The Trust's primary activity is to restore and regenerate Wymering Manor, which had fallen into a poor state in 40 years of public ownership. The Manor is currently unoccupied. The freehold interest in the property has been transferred to the Trust. Wymering Manor is a Grade II* Listed building in an economically and socially deprived area of the City of Portsmouth. Wymering Manor is the oldest residential building in the City of Portsmouth, the existence of the Manor was first recorded in the Domesday Book. The building's timber frame has been dendrodated to 1582 and it has been adapted and extended in subsequent centuries. The structure contains two hiding places for Catholic priests, fine timberwork from Bold Hall in Lancashire, and additions from its occupation by a religious community linked to the adjacent church of St Peter and St Paul. It is associated with important figures such as Admiral Francis Austen (brother of Jane). The Trust facilitates educational institutions being involved in the restoration and conservation of the Manor and in establishing sustainable new uses for it. The Trust records the restoration process as a learning tool and also provides historical and architectural information or guides about the Manor in various forms such as leaflets or on our website. The Trust is continuing to conserve the Manor in order to provide sustainable new uses of benefit to the community.
## **Public benefit**
In accordance with the requirements of the Charities Act 2011 and the associated Charities (Accounts and Reports) Regulations 2008, the trustees confirm that they have complied with their duties to have due regard to the guidance on public benefit as published by the Charity Commission, in exercising their powers and duties in the year under review.
## **ACHIEVEMENTS**
The principal success this year was the completion of the work and reports funded by our Resilience Funding grant from the National Lottery Heritage Fund. The Resilience Funding has allowed us to undertake the following:
- Governance Review – this reviewed our governance structure and procedures and made recommendation on their appropriateness for our future plans. We are now working on implementing the recommendations in the report and have created a Governance Review Implementation subcommittee. We have already made good progress in the recruitment of trustees with the skills required.
- Business Plan – this has allowed us to focus on future activities for the Manor that are expected to be achievable and financially sustainable.
- Audience and Interpretation Development – this has greatly assisted in identifying potential users of the Manor in the future and how to present the Manor to those audiences. This has also resulted in a new website and branding.
We are also working to increase the number of events at the Manor, including with additional partners, as well as reinvigorate our volunteer programme post the Covid pandemic.
Page 1
## **WYMERING MANOR TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **FUTURE PLANS**
The Trust plans to:
- Build on the outcomes from our NLHF Resilience grant to increase our likelihood of success in obtaining the funding to fully restore the Manor for community use.
- Identify essential repairs and maintenance of the fabric of the Manor and identify funding, where available, to pay for these
- continue to cover day to day operating costs by running open days and events at the Manor
## **VOLUNTEERS**
The trustee directors wish to place on record their immense gratitude to the volunteers who have worked with the Trust during the year. Volunteers have carried out work in the following areas:
- maintenance and cleaning of the Manor
- gardening
## **FINANCIAL REVIEW**
## **Overview**
The Trust overall has made a surplus of £5,341 (2022: deficit of £3,122). The surplus this year is principally due to reduced expenditure on electricity and security. Electricity costs were high in 2021/22 mainly due to a faulty appliance.
Income and expenditure was significantly higher in 2022/23 due to our successful application for National Lottery Heritage Fund Resilience grant funding. This resulted in grant income of £79,148 which was fully expended in the year principally on professional fees to develop our audience development plan, interpretation plan and business plan, undertake a comprehensive governance review and create a new website and branding.
Other income and expenditure remained consistent with the previous year.
## **Investment Policy**
The Trust has no excess cash balances at present and therefore has no investments. In the event of the charity having funds to invest the trustee directors will consider the options, taking independent financial advice where necessary. The trustee directors’ policy will be to use low risk investments with the best income generating possibilities.
## **Reserves Policy**
The trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should, as a minimum, be between 3 and 6 months of the expenditure. Budgeted expenditure for 2023/24 is £12,000. The costs to preserve the Manor will be significant therefore the trustees have not set a maximum level of free reserves at this time.
Based on the budget for 2023/24, the Trust’s free reserves target is at least £2,000. The Trust determines free reserves as total unrestricted funds less book value of functional fixed assets held within unrestricted funds. The present level of free reserves is £7,133 (2022: £1,374). The trustee directors therefore consider that the current level of free reserves is satisfactory.
Page 3
## **WYMERING MANOR TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity was incorporated under the Companies Act 2006 on 7 January 2013, as a company limited by guarantee and is governed by its Memorandum and Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
## **Recruitment and appointment of new trustees**
The directors of the company are also charity trustees for the purpose of charity law. Under the requirements of the Memorandum and Articles of Association the directors are elected to serve for an indefinite period and at each annual general meeting one third of the trustees are subject to retirement by rotation or, if their number is not 3 or a multiple of 3, the number nearest to one third shall retire from office. Trustees retiring from office by rotation are eligible for re-election. New trustees are recommended by the trustees for appointment at the annual general meeting or nominated by a member. However, the charity may by ordinary resolution appoint a person willing to act to be a trustee either to fill a vacancy or as an additional trustee. The trustee appointed will hold office until the following annual general meeting and then they will be formally appointed. The minimum number of trustee directors the charitable company can have is three and the maximum is twelve.
All directors give their time voluntarily and receive no benefits from the charity.
There is a broad mix of skills amongst the trustee directors which serves the charity well although the Board regularly assesses the skills mix of the Board to identify any areas where recruitment of new trustees is desirable.
## **Introduction and training of new trustees**
Those wishing to become a trustee director are invited to attend a Board meeting and are provided with background information about the charity. Once appointed, the new trustee director is given copies of relevant documents i.e. Memorandum and Articles of Association. Training is available to trustee directors when required.
## **Organisation structure**
The trustee directors meet monthly and are responsible for the strategic direction and policy of the charity. At present the Trust has no employees and is reliant on the Board and a broad range of volunteers to manage the day to day operation of the charity.
## **Wider networks and related parties**
The Trust is not a member of a wider network and nor were there any transactions with related parties undertaken during the period.
## **Risk management**
The trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate systems or procedures have been established to mitigate the risks the charity faces.
Page 3
## **WYMERING MANOR TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 08349936 (England and Wales)
**Registered Charity number** 1151919
## **Registered office**
Larch House Parklands Business Park Denmead Hampshire PO7 6XP
## **Trustees**
D Bourne C Clark K Fletcher -resigned 20 April 2022 B French C Haskell -resigned 31 October 2022 D Higginbotham (Chair) -appointed 12 April 2023 A Mason B Mitchell -appointed 11 January 2023 P Mordaunt R Taylor -appointed 12 April 2023 R Wood
## **Independent examiner**
Mr J B Pache FCA 104 Northern Parade Portsmouth Hampshire PO2 9LN
## **Bankers**
The Co-operative Bank plc PO Box 250 Skelmersdale WN8 6WT
Approved by order of the board of trustees on 8 December 2023 and signed on its behalf by:
D Bourne - Trustee Director
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WYMERING MANOR TRUST**
## **Independent examiner's report to the trustees of Wymering Manor Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr J B Pache FCA 104 Northern Parade Portsmouth Hampshire PO2 9LN
Date: 11 December 2023
Page 5
## **WYMERING MANOR TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|||||31.3.23|31.3.22|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total funds|Total funds|
|||funds|fund|||
||Not|£|£|£|£|
||es|||||
|**INCOME AND ENDOWMENTS FROM**||||||
|Donations and legacies|2|9,026|-|9,026|9,836|
|**Charitable activities**|4|||||
|Preservation of Wymering Manor||-|79,148|79,148|-|
|Interest received||21|-|21|-|
|Other trading activities|3|350|-|350|-|
|**Total**||9,397|79,148|88,545|9,836|
|**EXPENDITURE ON**||||||
|**Charitable activities**|5|||||
|Preservation of Wymering Manor||4,056|79,148|83,204|12,958|
|**NET EXPENDITURE**||5,341|-|5,341|(3,122)|
|**RECONCILIATION OF FUNDS**||||||
|**Total funds brought forward**||203,171|-|203,171|206,293|
|**TOTAL FUNDS CARRIED FORWARD**||208,512|-|208,512|203,171|
The notes form part of these financial statements
Page 6
## **WYMERING MANOR TRUST**
|**BALANCE SHEET**
**AT 31 MARCH 2023**
Notes
**FIXED ASSETS**
Tangible assets
12
**CURRENT ASSETS**
Debtors
13
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.3.23
£
201,379
-
8,955
8,955
(1,822)
7,133
208,512
208,512
208,512
-
208,512|31.3.22
£
201,797
-
2,524
2,524
(1,150)
1,374
203,171
203,171
203,171
-
203,171|
|---|---|---|
The notes form part of these financial statements
Page 7
continued...
## **WYMERING MANOR TRUST**
## **BALANCE SHEET - CONTINUED AT 31 MARCH 2023**
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved and authorised for issue by the Board of Trustees on 8 December 2023 and were signed on its behalf by:
D Bourne - Trustee Director
The notes form part of these financial statements
Page 8
## **WYMERING MANOR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, the receipt is probable and the amount can be measured with sufficient reliability.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. Such income is only deferred when:
- the donor specifies that the grant or donation must only be used in future accounting periods; or
- - the donor has imposed conditions which must be met before the charity has unconditional entitlement.
## **Volunteers and donated services**
The value of services provided by volunteers is not incorporated into these financial statements.
Where goods or services are provided to the charity as a donation that would normally be purchased from suppliers, these contributions are included in the financial statements at an estimate based on the value of the contribution to the charity.
## **Expenditure**
Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied.
- Costs of raising funds are those costs incurred in attracting voluntary income.
- Charitable activities include expenditure associated with preserving Wymering Manor. Charitable activities include both the direct costs and support costs relating to these activities.
- Support and Governance costs include central functions and have been allocated to activities on a basis consistent with the use of resources.
## **Irrecoverable VAT**
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Page 9
## **WYMERING MANOR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 2% on cost Fixtures and fittings, etc - 20% and 33% on cost Freehold land is not depreciated.
Individual fixed assets costing £250 or more are capitalised at cost.
## **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.
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**OTHER TRADING ACTIVITIES**
Premises hire
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
**Activity**
Grants
Preservation of Wymering Manor
Grants received, included in the above, are as follows:
National Lottery Heritage Fund|31.3.23
£
9,026
31.3.23
£
350
31.3.23
£
79,148
31.3.23
£
79,148|31.3.22
£
9,836
31.3.22
£
-
31.3.22
£
-
31.3.22
£
-|
|---|---|---|
Page 10
## **WYMERING MANOR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **5. CHARITABLE ACTIVITIES COSTS**
|Direct costs
Support
costs
(See note 6)
(See note 7)
£
£
Preservation of Wymering Manor
81,056
2,148
**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
31.3.23
£
Professional fees
77,890
Event costs
321
Insurance
185
Security costs
413
Utilities costs
1,699
Maintenance and repairs
130
Depreciation
418
81,056
**7.**
**SUPPORT COSTS**
Management
Governance
costs
£
£
Preservation of Wymering Manor
1,927
221
Support costs, included in the above, are as follows:
**Management**
31.3.23
Preservation
of Wymering
Manor
£
Rates and waste disposal
319
Telephone and IT costs
1,338
Subscriptions
270
1,927
**Governance costs**
31.3.23
Preservation
of Wymering
Manor
£
Trustees’ indemnity insurance
208
Legal and professional fees
13
221||
|---|---|
|||
|||
Page 11
## **WYMERING MANOR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **8. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.3.23|31.3.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|418|584|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 (31.3.22: none).
## **Trustees' expenses**
During the year no trustee was reimbursed for out of pocket expenses (31.3.22: none).
## **10. STAFF COSTS**
The charity had no employees in the year and therefore no employee received emoluments in excess of £60,000 (31.3.22: none).
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|Restricted|Total funds|
|---|---|---|---|
||funds|fund||
||£|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies|9,836|-|9,836|
|**Charitable activities**||||
|Preservation of Wymering Manor|-|-|-|
|Other trading activities|-|-|-|
|**Total**|9,836|-|9,836|
|**EXPENDITURE ON**||||
|**Charitable activities**||||
|Preservation of Wymering Manor|12,958|-|12,958|
|**Total**|12,958|-|12,958|
|**NET INCOME/(EXPENDITURE)**|(3,122)|-|(3,122)|
|**RECONCILIATION OF FUNDS**||||
|**Total funds brought forward**|206,293|-|206,293|
|**TOTAL FUNDS CARRIED FORWARD**|203,171|-|203,171|
Page 12
## **WYMERING MANOR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **12. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
||Freehold|||
||land and|Fixtures and||
||buildings|fittings, etc|Totals|
||£|£|£|
|**COST**||||
|At 1 April 2022|200,000|9,128|209,128|
|Additions|-|-|-|
|At 31 March 2023|200,000|9,128|209,128|
|**DEPRECIATION**||||
|At 1 April 2022|-|7,331|7,331|
|Charge for year|-|418|418|
|At 31 March 2023|-|7,749|7,749|
|**NET BOOK VALUE**||||
|At 31 March 2023|200,000|1,379|201,379|
|At 31 March 2022|200,000|1,797|201,797|
Included within freehold land and buildings above is land of £200,000 which is not depreciated.
## **13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Accrued income
Other debtors
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors|31.3.23
£
-
-
-
31.3.23
£
1,572
250
1,822|31.3.22
£
-
-
-
31.3.22
£
900
250
1,150|
|---|---|---|
Page 13
## **WYMERING MANOR TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023**
## **15. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
||||||31.3.23|31.3.22|
|---|---|---|---|---|---|---|
|||Unrestricted||Restricted|Total|Total|
|||funds||fund|funds|Funds|
|||£||£|£|£|
||Fixed assets|201,379||-|201,379|201,797|
||Current assets|8,955||-|8,955|2,524|
||Current liabilities|(1,822)||-|(1,822)|(1,150)|
|||208,512||-|208,512|203,171|
|**16.**|**MOVEMENT IN FUNDS**||||||
|||||Net|Transfers||
|||||movement|between||
|||At 1.4.22||in funds|funds|At 31.3.23|
|||£||£|£|£|
||**Unrestricted funds**||||||
||General fund|203,171||5,341|-|208,512|
||**Restricted funds**||||||
||National Lottery Heritage Fund||-|-|-|-|
||||-|-|-|-|
||Net movement in funds, included in the above are as||follows:||||
|||||||Net|
|||||Incoming|Resources|movement|
|||||resources|expended|in funds|
|||||£|£|£|
||**Unrestricted funds**||||||
||General fund|||9,397|4,056|5,341|
||**Restricted funds**||||||
||National Lottery Heritage Fund|||79,148|79,148|-|
|||||79,148|79,148|-|
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
## **18. ULTIMATE CONTROLLING PARTY**
The charitable company is under the control of its trustees. No one trustee has control of the charitable company.
## **19. SHARE CAPITAL AND LIABILITY OF MEMBERS**
The charitable company is a company limited by guarantee and its members have undertaken to contribute to the assets of the company in the event of it being wound such amounts as may be required not exceeding £10.
Page 14