Company Registration Number 06743463 (England and Wales) Charity Number 1159510
WOODBRIDGE RIVERSIDE TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ENSORS ACCOUNTANTS LLP
Chartered Accountants 159 Princes Street IPSWICH
WOODBRIDGE RIVERSIDE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
| CONTENTS | PAGES |
|---|---|
| Reference and administrative information | 1 |
| Trustees annual report | 2 to 5 |
| Independent examiners report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 to 15 |
WOODBRIDGE RIVERSIDE TRUST
REFERENCE AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 DECEMBER 2021
COMPANY NUMBER – 06743463 (England and Wales) CHARITY NUMBER – 1159510 – Registered 5 December 2014
TRUSTEES
The trustees who served the charity during the year ended 31 December 2021 were as follows:
Mr M Hodd (retired 31 December 2021)
Mrs S R Simpson
Mr B Knibbs
Mr M J Sutton
Mrs N M Clay
Mr B W Higgs (treasurer)
Mrs P G Clark (appointed 26 September 2021)
REGISTERED OFFICE
Connexions 159 Princes Street Ipswich IP1 1QJ
BANKERS
Barclays Bank 4 Church Street Woodbridge IP12 1DJ
INDEPENDENT EXAMINER
Mrs Helen Rumsey, FCA Ensors Accountants LLP Connexions 159 Princes Street Ipswich IP1 1QJ
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WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2021
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2021. The details on page one form part of this report.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, the Charities Act 2011 and “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)”.
The company is a registered charity and limited by guarantee, governed by its Memorandum and Articles of Association. In accordance with the constitution of the company every member undertakes to contribute such amount (not exceeding £10) to the company's assets should it be wound up.
OBJECT OF THE CHARITY
To protect, preserve and enhance the character of the natural and build environment of the Deben riverside for the benefit of the public. The charity also promotes the maritime heritage of Woodbridge.
PUBLIC BENEFIT
The Trustees are aware of the Charity Commission’s guidance in relation to delivering public benefit, and believe the Trust is fulfilling its requirements.
The Trust continues to deliver activities that bring the community together in a workshop for learning and celebration of the maritime heritage of Woodbridge and the River Deben.
Covid 19 has again dominated the year, with The Longshed closing to the public until July 2021, and despite achieving ‘Good to Go (England) ’ certification, it was not possible to allow the general public to freely circulate in the visitor areas until much later in the year when HM Government regulations were relaxed a little. Activities relating to the new skiff and the replica Sutton Hoo ship have continued through the year, with much progress being made despite the working conditions and restrictions. Public events were successfully held during the second half of the year, both outside and on the refurbished and re-purposed mezzanine.
With no public footfall again for the first 6 months of 2021, funding has continued to be squeezed, but Covid support grants have kept the Trust and The Longshed fully operational and ready for re-opening when Government restrictions were lifted.
The Trust took the opportunity, during the Covid restrictions in the early part of the year, to refurbish the Longshed mezzanine, providing a dust and noise free environment with appropriate ventilation for use under Covid conditions.
REVIEW OF THE YEAR
The financial statements reflect the Trust’s activities for the year ended 31st December 2021. At the year end, the net movement, before transfers, on unrestricted funds amounted to a net surplus of £27,665 compared to a surplus for 2020 of £20,998. The net movement on restricted funds, before transfers, amounted to a surplus of £10,109 compared to £4,963 for 2020.
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WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT ( continued)
YEAR ENDED 31 DECEMBER 2021
The Trust implemented and complied with all Covid restrictions, especially related to social distancing and hygiene, with only very limited numbers having access to the Longshed for essential maintenance during lockdowns. No Covid cases have been reported within the Trust’s or the Longshed‘s active support team.
Despite Covid restrictions, a number of public events have been possible in and around the Longshed in the second half of the year drawing considerable public and sponsor support. Continued close ties with other venues and attractions in the immediate area have provided additional support and use of the Longshed to the community advantage. Of note amongst these events were the second Opera in the Park, for which the Trust again acted as promoter, bringing a free to access opera event to the community with the support of Woodbridge Town Council, East Suffolk District Council, Suffolk County Council and many individual donations. The event was oversubscribed and a welcome relief from the rigours of Covid restrictions.
A Christmas fair was successfully held in Whisstocks square on the Longshed mezzanine and drew a large attendance by the public. Of continued great success during the year has been progress with the Woodbridge Tapestry, a long, multi-panel work by a talented team inspired by the Bayeux tapestry, now with many finished and nearly finished panels.
With the easing of restrictions, several exhibitions and craft sales have been possible, again drawing large crowds of visitors and boosting much needed donations.
There continues to be considerable local support from individual donations, company and corporate donations and grants from East Suffolk District Council, Woodbridge Town Council, Suffolk County Council and other Government bodies, confirming the acceptance of the Longshed as an important part of the community in East Suffolk.
Friends of the Longshed have continued financial and physical support with the running of the Longshed, forming a substantial and growing portion of the income in 2021, and the Trustees and Directors have supported this by again minimizing running costs within income limits and deferring all non-essential expenses. The Trust continues to be very grateful to the team running the scheme and contributors.
Sae Wylfing, the small replica of the Sutton Hoo ship was launched in the Summer and moored in the River Deben outside the Longshed adding a fascinating attraction to the waterfront and helping to draw more visitors to the local attractions. The trustees continue to be grateful to our local boatyard for restoring the vessel at minimal cost. Sae Wylfing is now 30 years old, she was built as an experimental craft and has enjoyed a refit in 2021, which will preserve her and keep her ship-shape for 4 more years. The Trust will program a replacement vessel to be built in the Longshed when the replica of the Sutton Hoo ship is complete and launched.
The 2020 Education programme was postponed to 2021 and the pilot programme proved to be most successful earlier in the year. The Longshed and Woodbridge Riverside Trust are concentrating on widening the programme with more local schools, education centres and child support agencies to provide a learning experience related to our local history and natural environment.
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WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT ( continued)
YEAR ENDED 31 DECEMBER 2021
TRUSTEES' RESPONSIBILITIES
The charity trustees (who are also directors of Woodbridge Riverside Trust for the purposes of company law) are responsible for preparing a trustees report and financial statements, in accordance with applicable law, for each financial period which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure for that period.
In preparing those financial statements, the trustees are required to select suitable accounting policies, as described on pages 9 to 11, and then apply them consistently, observe the methods and principles in the Charities SORP and make judgements and estimates that are prudent and reasonable. The Trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website.
APPOINTMENT OF TRUSTEES
The Trustees of the charity are detailed on page 1 of these accounts.
When a vacancy occurs for a trustee, the remaining trustees seek to appoint an individual with skills and experience which they feel will be of benefit to the charity.
On appointment, new trustees are given copies of the latest Annual Report and Accounts. There is no formal induction and training programme, but individual trustees attend seminars to update themselves when they feel it necessary.
RESERVES
The Trustees have reviewed the restricted funds and consider, that other than the Longshed capital fund, no other restricted funds remain at 31 December 2021.
The charity does not have a policy for holding unrestricted reserves. Unrestricted reserves amounted to £77,550 at 31 December 2021 compared to £26,671 at 31 December 2020.
Reserves of £24,000 have been established in line with Trust policy to protect The Longshed from a further 12 months closure/public shutdown and other potential risks considered to be of sufficient magnitude to impact the charity and The Longshed operations.’
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WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT ( continued) YEAR ENDED 31 DECEMBER 2021
INVESTMENTS
The Charity has no investments.
EMPLOYEE MATTERS
As the Charity has no employees it does not yet have a policy in place relating to employee matters.
Signed by order of the trustees
……………………………………………………. B Knibbs (Director)
…………………………………………………………. B Higgs (Director)
Approved by the trustees on
7 April 2022
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WOODBRIDGE RIVERSIDE TRUST
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE WOODBRIDGE RIVERSIDE TRUST
YEAR ENDED 31 DECEMBER 2021
I report to the charity Trustees on my examination of the accounts of Woodbridge Riverside Trust for the year ended 31 December 2021.
Responsibilities and basis of report
As the charity’s trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with 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 examiners' statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 & 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.
Mrs H Rumsey, FCA Dated: 19 April 2022 Ensors Accountants LLP Connexions 159 Princes Street Ipswich IP1 1QJ
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WOODBRIDGE RIVERSIDE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2021
| Note | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| Income and Endowments | 2 | £ | £ | £ | £ |
| from: | |||||
| Donations and legacies | 39,598 | 13,503 | 53,101 | 40,355 | |
| Charitable activities | 15,054 | - | 15,054 | 8,982 | |
| Other trading activities | 11,277 | - | 11,277 | 1,044 | |
| Other income | 3,720 | - | 3,720 | - | |
| ------------------------------------ | ------------------------------------ | ------------------------------- | ------------------------------- | ||
| Total | 69,649 | 13,503 | 83,152 | 50,381 | |
| ------------------------------------ | ------------------------------------ | ------------------------------- | ------------------------------- | ||
| Expenditure on: | 3 | ||||
| Raising funds | 16,154 | - | 16,154 | 8,995 | |
| Charitable activities | 25,830 | 3,394 | 29,224 | 15,425 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total | 41,984 | 3,394 | 45,378 | 24,420 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net surplus | 27,665 | 10,109 | 37,774 | 25,961 | |
| Transfers between funds | 23,214 | (23,214) | - | - | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net movement in funds | 50,879 | (13,105) | 37,774 | 25,961 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 26,671 | 80,133 | 106,804 | 80,843 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total funds carried forward | 77,550 ------------------------------------ |
67,028 ------------------------------------ |
144,578 ------------------------------------ |
106,804 ------------------------------------ |
The notes on pages 9 to 15 form part of these financial statements.
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WOODBRIDGE RIVERSIDE TRUST
BALANCE SHEET
31 DECEMBER 2021
| Note Fixed Assets Tangible assets 4 Current Assets Debtors 5 Cash at bank and in hand Creditors: Amounts falling due within one year 6 Net current assets Total assets less current liabilities Funds Unrestricted Restricted |
2021 £ 113,889 ------------------------------- 7,321 33,903 --------------------------------- 41,224 (10,535) ---------------------------------- 30,689 ------------------------------------ 144,578 ~~----- ---------------------------------~~ 77,550 67,028 ---------------------------------------- 144,578 ================ |
2020 £ 78,732 ---------------------------- - 33,697 --------------------------------- 33,697 (5,625) ------------------------------------ 28,072 ------------------------------------ 106,804 ~~----- ---------------------------------~~ 26,671 80,133 --------------------------------------- 106,804 ================ |
|---|---|---|
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of the accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the trustees and are signed on their behalf by:
………………………………. ……………………………………. B Knibbs B Higgs
Date: 7 April 2022
The notes on pages 9 to 15 form part of these financial statements.
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of accounting
The accounts have been prepared in accordance with 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 (FRS102).
The charity is a public benefit entity as defined by FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these accounts are rounded to the nearest £.
The accounts have been prepared on the going concern basis as the Committee have a reasonable expectation that the charity has adequate resources to continue operating for the foreseeable future. The charity’s activities have been affected by the Covid-19 pandemic lockdowns however, grants have been received from East Suffolk District Council to assist with the shortfall in funding.
Fund accounting
Unrestricted funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity and which have not been designated for other purposes.
Designated funds are funds that have been set aside by the Trustees for a particular purpose.
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 costs of administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the Notes to the Accounts.
Fixed Assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Longshed tools, fixtures and equipment 5 years straight line Longshed improvements – Air conditioning units 15 years straight line Other Longshed improvements 35 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to profit or loss.
Impairment of Fixed Assets
At each reporting date the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered any impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Income
Income is recognised when there is entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
Income from grants, whether ‘capital’ or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Legacies are accounted for when the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
Voluntary income and donations are accounted for as and when received by the charity.
Gift Aid is accounted for on the accruals basis.
Income from charitable activities is shown gross with associated costs included as charitable expenditure. The income is accounted for by the charity as and when earned.
Income from fundraising activities is shown gross with associated costs included as fundraising expenditure. The income is accounted for by the charity as and when received.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Raising funds: Costs of raising funds include expenditure for fundraising events.
Charitable activities: Expenditure on charitable activities includes the cost of activities undertaken to further the purposes of the charity and their associated support costs.
Other expenditure represents those items not falling into any other heading.
Operating leases
Rentals payable under operating leases are charged against income as they become payable.
Taxation
The activities are exempt from United Kingdom Income and Corporation taxation provided the income is applied for charitable purposes.
Cash at bank and in hand
Cash at bank and in hand includes cash and highly liquid investments.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Basic financial instruments are recognised in the Balance Sheet when the charity becomes party to the contractual provision of the instrument.
Accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
2. Income
| Income | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Income from donations and legacies | |||
| Unrestricted | |||
| Donations | 9,229 | 7,680 | |
| Grants | 27,307 | 28,254 | |
| Gift Aid Claimed | 3,062 | 328 | |
| ------------------------------- | ------------------------------- | ||
| 39,598 | 36,262 | ||
| Restricted | ------------------------------- | ------------------------------- | |
| Donations | - | 4,093 | |
| Grants | 13,503 | - | |
| ------------------------------- | ------------------------------- | ||
| 13,503 | 4,093 | ||
| ------------------------------- | ------------------------------- | ||
| Total donations | and legacies | 53,101 | 40,355 |
| ============== | ============== | ||
| Income from charitable activities | |||
| Unrestricted– Educational projects | - | 100 | |
| - Use of Longshed | 15,004 | - | |
| - Other income | 50 | - | |
| ------------------------------- | ------------------------------- | ||
| 15,054 | 100 | ||
| ------------------------------- | ------------------------------- | ||
| Restricted –Use of Longshed | - | 8,882 | |
| ------------------------------- | ------------------------------- | ||
| - | 8,882 | ||
| Total charitable | activities | ------------------------------- 15,054 |
------------------------------- 8,982 |
| ============== | ============== | ||
| Income from other trading activities | |||
| Unrestricted –Souvenirs | 5,502 | - | |
| Projects and fundraising events | 5,775 | - | |
| ------------------------------ | ------------------------------ | ||
| 11,277 | - | ||
| Restricted- Other trading activities | - -------------------------- |
1,044 ---------------------------- |
|
| Total other trading activities | 11,277 |
1,044 | |
| ============== | ============== | ||
| Other income – |
Unrestricted Use of building for Covid testing |
3,720 |
- |
| ============== | ============== |
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
| 3. Expenditure | 2021 | 2020 |
|---|---|---|
| Raising funds | £ | £ |
| Unrestricted | ||
| Goods | 2,144 | - |
| Marketing, promotion and event costs | 12,494 | 6,531 |
| Admin costs | 1,516 | 2,464 |
| ------------------------------- | ------------------------------- | |
| Total raising funds costs | 16,154 | 8,995 |
| ------------------------------- | ------------------------------- | |
| Charitable activities | ||
| Unrestricted | ||
| Direct costs | ||
| Educational projects | 1,686 | - |
| Workshop costs | 12,112 | - |
| --------------------------------- | --------------------------------- | |
| 13,798 | - | |
| ============== | ============== | |
| Other | ||
| Insurance | 3,237 | 2,582 |
| Depreciation | 4,034 | 2,491 |
| Management | 229 | - |
| Legal Fees | 650 | - |
| Accountancy | 3,882 | 2,340 |
| ------------------------------- | ------------------------------- | |
| 12,032 | 7,413 | |
| ============ | ============ | |
| Total charitable activities - unrestricted | 25,830 | 7,413 |
| ============ | ============ | |
| Restricted | ||
| Ship development costs | 1,232 | - |
| Workshop costs | - | 5,194 |
| Depreciation | 2,162 | 1,740 |
| Management | - | 1,078 |
| ------------------------------ | ------------------------------ | |
| 3,394 | 8,012 | |
| ------------------------------ | ------------------------------ | |
| Total charitable activities | 29,224 | 15,425 |
| ============== | ============== |
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
4. Tangible fixed assets
| 4. | Tangible fixed assets | |||
|---|---|---|---|---|
| Longshed | Longshed | Total | ||
| Equipment & Tools | Improvements | |||
| £ |
£ |
£ | ||
| Cost | ||||
| At 1 January 2021 | 9,753 | 79,833 | 89,586 | |
| Additions | 1,188 | 40,166 | 41,354 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| At 31 December 2021 | 10,941 | 119,999 | 130,940 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| Depreciation | ||||
| At 1 January 2021 | 4,149 | 6,705 | 10,854 | |
| Charge for the year | 2,187 | 4,010 | 6,197 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| At 31 December 2021 | 6,336 | 10,715 | 17,051 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| Carrying amount | ||||
| At 31 December 2021 | 4,605 | 109,284 | 113,889 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| At 31 December 2020 | 5,604 | 73,128 | 78,732 | |
| -------------------------- | ------------------------- | -------------------------- | ||
| 2021 | 2020 | |||
| 5 | Debtors | £ | £ | |
| Other debtors | 7,321 | - | ||
| ============ | ============ | |||
| 6 | Creditors: Amounts falling due within one year | |||
| Trade creditors | 6,893 | 2,625 | ||
| Accruals and deferred income | 3,642 | 3,000 | ||
| -------------------------- | ---------------------------- | |||
| 10,535 | 5,625 | |||
| ============ | ============ |
7 Restricted funds
The restricted funds are raised by the charity through donations and grants. The Longshed fund represents funds raised specifically towards the cost of improvements. The trustees have reviewed the restricted funds and consider that, other than the Longshed capital fund, no restricted funds remain at 31 December 2021. Accordingly the balances have been transferred to unrestricted funds.
| Balance at | Incoming | Resources | Gross | Balance at | |
|---|---|---|---|---|---|
| 1 Jan 21 | Resources | Expended | Transfers | 31 Dec 21 | |
| £ | £ | £ | £ | £ | |
| Anglo Saxon Ship | 668 | - | - | (668) | - |
| Sae Wylfing | 5,135 | - | (1,232) | (3,903) | - |
| Skiff & Small boat | 6,350 | - | - | (6,350) | - |
| The Longshed | 67,980 | 13,503 | (2,162) | (12,293) | 67,028 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 80,133 | 13,503 | (3,394) | (23,214) | 67,028 | |
| ============ | ============ | ============ | ============ | ============ |
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
7 Restricted funds (cont)
| Balance at | Balance at | Incoming | Resources Gross |
Balance at | |
|---|---|---|---|---|---|
| 1 | Jan 20 | Resources | Expended Transfers |
31 Dec 20 | |
| £ | £ | £ £ |
£ | ||
| Anglo Saxon Ship | 668 | - | - - |
668 | |
| Sae Wylfing | 5,255 | - | (120) - |
5,135 | |
| Skiff & Small boat | 6,350 | - | - - |
6,350 | |
| The Longshed | 62,897 | 12,975 | (7,892) - |
67,980 | |
| ---------------------------- | ---------------------------- | ---------------------------- ---------------------------- |
---------------------------- | ||
| 75,170 | 12,975 | (8,012) - |
80,133 | ||
| ============ | ============ | ============ ============ |
============ | ||
| 8 | Analysis of net assets between funds | ||||
| 2021 | |||||
| Unrestricted | Restricted | Total | |||
| £ | £ | £ | |||
| Fixed Assets | 46,861 | 67,028 | 113,889 | ||
| Current Assets | 41,224 | - | 41,224 | ||
| Current Liabilities | (10,535) | - | (10,535) | ||
| ---------------------------- | ---------------------------- | ---------------------------- | |||
| 77,550 | 67,028 | 144,578 | |||
| ============ | ============ | ============ | |||
| 2020 | |||||
| Unrestricted | Restricted | Total | |||
| £ | £ | £ | |||
| Fixed Assets | 23,046 | 55,686 | 78,732 | ||
| Current Assets | 9,250 | 24,447 | 33,697 | ||
| Current Liabilities | (5,625) | - | (5,625) | ||
| ---------------------------- | ---------------------------- | ---------------------------- | |||
| 26,671 | 80,133 | 106,804 | |||
| ============ | ============ | ============ |
9 Related parties
During the year ended 31 December 2021 donations totalling £649 were received from three of the trustees. (Restricted donations £Nil). Donations from a spouse of a trustee totalled £240 (2020: £Nil)
During the year ended 31 December 2020 donations totalling £788 were received from six of the trustees. (Restricted donations £Nil).
In addition, £240 was donated by a Limited Company, of which one of the trustees is also a Director. (2020: £120)
There was no remuneration or expenses paid to the trustees in the year. (2020: £Nil).
Only immaterial expenses were waived by trustees.
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Related parties (continued)
Management fees amounting to £1,078 were paid to Bradley Higgs as Longshed Manager during the year ended 31 December 2020 for his services to the charity. No fees were paid during year ended 31 December 2021.
Reimbursement totalling £3,173 was made to three of the trustees for expenditure incurred on behalf of the charity relating to marketing, events and longshed maintenance and repairs. (2020: £177 reimbursement of event costs to one trustee)
The charitable activities are carried out by unpaid volunteers. No ex-gratia payments have been made to any trustee or volunteer during the year ended 31 December 2021 (2020: £Nil).
10 Employees Remuneration
There were no employees during the year ended 31 December 2021 (2020: Nil).
11 Lease commitments
In April 2018, the charity entered into a 35-year lease for the Longshed at a peppercorn rent.
12 Statement of Financial Activities – Year ended 31 December 2020
| Note | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| Funds | Funds | 2020 | ||
| Income and Endowments | 2 | £ | £ | £ |
| from: | ||||
| Donations and legacies | 36,262 | 4,093 | 40,355 | |
| Charitable Activities | 100 | 8,882 | 8,982 | |
| Other trading activities | 1,044 | - | 1,044 | |
| ------------------------------------ | ------------------------------------ | ------------------------------- | ||
| 37,406 | 12,975 | 50,381 | ||
| ------------------------------------ | ------------------------------------ | ------------------------------- | ||
| Expenditure on: | 3 | |||
| Raising funds | 8,995 | - | 8,995 | |
| Charitable activities | 7,413 | 8,012 | 15,425 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| 16,408 | 8,012 | 24,420 | ||
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net movement in funds | 20,998 | 4,963 | 25,961 | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 5,673 | 75,170 | 80,843 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total funds carried forward | 26,671 | 80,133 | 106,804 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ |
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