Company Registration Number 06743463 (England and Wales) Charity Number 1159510
WOODBRIDGE RIVERSIDE TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
ENSORS ACCOUNTANTS LLP
Connexions 159 Princes Street IPSWICH
WOODBRIDGE RIVERSIDE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
| 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 2022
COMPANY NUMBER – 06743463 (England and Wales) CHARITY NUMBER – 1159510 – Registered 5 December 2014
TRUSTEES
Mr R Lyon (treasurer - appointed 26 July 2022)
Mrs S R Simpson (retired 31 May 2022) Mr B Knibbs
Mr M J Sutton (retired 20 February 2023) Mrs N M Clay Mrs P G Clark Ms T Bale (appointed 1 July 2022)
Ms T Anderson (appointed 8 June 2022, retired 26 March 2023)
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
- 1 -
WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2022
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2022. 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.
The removal of Covid 19 restrictions has enabled the Longshed to be fully opened to the public and for the Trust to continue with its programmes. The Longshed hosts a number of projects including the building by the Sutton Hoo Ships Company of the replica Sutton Hoo Burial Ship and work continued through the year with the size and shape now becoming apparent.
The Longshed Mezzanine was refurbished during the Covid shut down and the display of tapestries is now proving to be a popular attraction. The tapestries depict in a series of tableaus the history of the River Deben, Sutton Hoo and Woodbridge.
During the year a number of successful events were held at the Longshed with an educational and informative theme. This has helped in promoting the presence in the community of the Longshed and has given strong public footfall through the year. The shop has also proved to be an attraction to the public, selling merchandise with a strong maritime / River Deben theme.
REVIEW OF THE YEAR
The financial statements reflect the Trust’s activities for the year ended 31st December 2022. At the year end, the net movement, before transfers, on unrestricted funds amounted to a net surplus of £8,996 compared to a surplus for 2021 of £27,665. The net movement on restricted funds, before transfers, amounted to a deficit of £807 compared to a surplus of £10,109 for 2021.
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WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT ( continued)
YEAR ENDED 31 DECEMBER 2022
With the lifting of Covid restrictions the Trust was able to hold a number of public events in and around the Longshed. These included a magical Christmas tree constructed from redundant material by young people from Just 42 which was displayed on Whisstocks Place, exhibitions of craft work by the Suffolk Craft Society and Mr and Mrs Bacon of Bungay, an exhibition of winners from the Suffolk Prep Schools art competition and and exhibition by Woodbridge Camera Club. The gallery is used by The Rabble Chorus for their weekly rehearsals. The second St Ayles Skiff built in the Longshed by the Woodbridge Coastal Rowing Club was launched on the 2 May 2022. Another community project hosted by the Trust.
Along with other charitable and community organisations, Woodbridge Riverside Trust have formed, and are active in the promotion of the riverside of Woodbridge and its environs through the Woodbridge Historic Riverside Group.
Friends of the Longshed have continued giving financial and physical support with the running of the Longshed. This along with individual donations, company and corporate donations and grants from East Suffolk District Council, Woodbridge Town Council, Suffolk County Council, Coast and Heaths AONB grant funds and the Nichol-Young Foundation has confirmed the acceptance of the Longshed as an important part of the community in Woodbridge and East Suffolk. The Trust continues to be grateful to our many friends and supporters and to the team of volunteers who keep the Longshed functioning day to day.
Sae Wylfing, the small replica of the Sutton Hoo ship was again launched in 2022 and moored on the River Deben outside the Longshed. She has added to the environment of the waterfront and has helped attract visitors to the Whisstocks area and to the Longshed. Sae Wylfing spends the winters in a local boatyard who help maintain her and the Trust continues to be grateful for their help. Sae Wylfing is now over 30 years old and will eventually need to be replaced. The Trust have a programme to build a replacement vessel in the Longshed.
The Longshed shop has become popular with visitors to the Longshed. The shop stocks merchandise strongly related to the objectives of the Trust with a strong link to the maritime heritage associated with Woodbridge and the River Deben along with the story of the Sutton Hoo ship. Income from the shop is now a substantial and growing portion of the income for 2022. The Trust continues to be grateful to the volunteers who run the shop
The 2022 Education programme has proved to be very successful with the involvement of local schools In particular the “Follow the Ship” programme held in conjunction with the Sutton Hoo Ships Company has provided a learning experience linking the building of the replica Sutton Hoo Ship with the local environment and Woodbridge’s maritime heritage. The Longshed and Woodbridge Riverside Trust are concentrating on widening this programme with more 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 2022
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 restricted funds relating to Longshed capital fund, amount to £66,221 at 31 December 2022 compared to £67,028 at 31 December 2021.
The charity does not have a policy for holding unrestricted reserves. Unrestricted reserves amounted to £86,546 at 31 December 2022 compared to £77,550 at 31 December 2021.
A reserves target of £40,000 has been established in line with Trust policy: 1) to protect The Longshed from any potential risks considered to be of sufficient magnitude to impact the charity and The Longshed operations and 2) to build a fund to cover future projects to ensure the future viability of the charity.
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WOODBRIDGE RIVERSIDE TRUST
TRUSTEES ANNUAL REPORT ( continued)
YEAR ENDED 31 DECEMBER 2022
RISK MANAGEMENT
The Trustees have considered the major risks to which the charity is exposed, and systems have been established to mitigate those risks. The implementation of these procedures minimises those risks. These procedures are regularly reviewed to ensure that they still meet the needs of the charity. In particular, to minimise any financial risks the trustees would seek reputable banks and investment providers into which they could place funds. The performance of their investment would then be reviewed.
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. The activities of the Trust are carried out by unpaid volunteers.
GOING CONCERN
The Trustees consider that the charity has adequate resources to continue operating for the foreseeable future.
Signed by order of the trustees
…………………………………………………….
P Clark (Chair)
…………………………………………………………. R Lyon
Approved by the trustees on 3 October 2023
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WOODBRIDGE RIVERSIDE TRUST
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE WOODBRIDGE RIVERSIDE TRUST
YEAR ENDED 31 DECEMBER 2022
I report to the charity trustees on my examination of the accounts of Woodbridge Riverside Trust for the year ended 31 December 2022.
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 Ensors Accountants LLP Connexions 159 Princes Street Ipswich IP1 1QJ
Dated: 9 October 2023
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WOODBRIDGE RIVERSIDE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2022
| Note | Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|---|
| Funds | Funds | 2022 | 2021 | ||
| Income and Endowments | 2 | £ | £ | £ | £ |
| from: | |||||
| Donations and legacies | 24,132 | 1,400 | 25,532 | 53,101 | |
| Charitable activities | 22,654 | - | 22,654 | 15,054 | |
| Other trading activities | 25,284 | - | 25,284 | 11,277 | |
| Investments | 25 | - | 25 | - | |
| Other income | - | - | - | 3,720 | |
| ------------------------------------ | ------------------------------------ | ------------------------------- | ------------------------------- | ||
| Total | 72,095 | 1,400 | 73,495 | 83,152 | |
| ------------------------------------ | ------------------------------------ | ------------------------------- | ------------------------------- | ||
| Expenditure on: | 3 | ||||
| Raising funds | 23,291 | - | 23,291 | 16,154 | |
| Charitable activities | 39,808 | 2,207 | 42,015 | 29,224 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total | 63,099 | 2,207 | 65,306 | 45,378 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net surplus/(deficit) | 8,996 | (807) | 8,189 | 37,774 | |
| Transfers between funds | - | - | - | - | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net movement in funds | 8,996 | (807) | 8,189 | 37,774 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 77,550 | 67,028 | 144,578 | 106,804 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total funds carried forward | 86,546 | 66,221 | 152,767 | 144,578 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ------------------------------------ |
The notes on pages 9 to 15 form part of these financial statements.
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WOODBRIDGE RIVERSIDE TRUST
BALANCE SHEET
31 DECEMBER 2022
| Note Fixed Assets Tangible assets 4 Current Assets Stock of souvenirs and shop goods 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 |
2022 £ 109,636 ------------------------------- 3,334 4,296 43,596 --------------------------------- 51,226 (8,095) ---------------------------------- 43,131 ------------------------------------ 152,767 ~~----- ---------------------------------~~ 86,546 66,221 ---------------------------------------- 152,767 ================ |
2021 £ 113,889 ---------------------------- - 7,321 33,903 --------------------------------- 41,224 (10,535) ------------------------------------ 30,689 ------------------------------------ 144,578 ~~----- ---------------------------------~~ 77,550 67,028 --------------------------------------- 144,578 ================ |
|---|---|---|
For the financial year ended 31 December 2022 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:
………………………………. ……………………………………. P Clark R Lyon
Date: 3 October 2023
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 2022
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. Applications for grants from the local council and County Council are sought to cover shortfalls 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 2022
Stock
Stock of goods is stated at the lower of cost or net realisable value.
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.
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
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
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Income from donations and legacies | ||
| Unrestricted | ||
| Donations | 13,621 | 9,229 |
| Grants | 8,223 | 27,307 |
| Gift Aid Claimed | 2,288 | 3,062 |
| ------------------------------- | ------------------------------- | |
| 24,132 | 39,598 | |
| Restricted | ------------------------------- | ------------------------------- |
| Donations | 400 | - |
| Grants | 1,000 | 13,503 |
| ------------------------------- | ------------------------------- | |
| 1,400 | 13,503 | |
| ------------------------------- | ------------------------------- | |
| Total donations and legacies | 25,532 | 53,101 |
| ============== | ============== | |
| Income from charitable activities | ||
| Unrestricted– Educational projects | 1,575 | - |
| - Use of Longshed | 20,969 | 15,004 |
| - Other income | 110 | 50 |
| ------------------------------- | ------------------------------- | |
| Total charitable activities | 22,654 | 15,054 |
| ------------------------------- | ------------------------------- | |
| Income from Investments – Unrestricted –Interest | 25 | - |
| ============== | ============== | |
| Income from other trading activities Unrestricted –Souvenirs |
25,174 | 5,502 |
| Projects and fundraising events | 110 | 5,775 |
| ------------------------------ | ------------------------------ | |
| 25,284 | 11,277 | |
| ============== | ============== | |
| Other income – Unrestricted –Covid testing |
- | 3,720 |
| ============== | ============== |
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
| 3. Expenditure | 2022 | 2021 |
|---|---|---|
| Raising funds | £ | £ |
| Unrestricted | ||
| Goods | 9,038 | 2,144 |
| Marketing, promotion and event costs | 11,808 | 12,494 |
| Admin costs | 913 | 1,516 |
| Shared donations | 1,532 | - |
| ------------------------------- | ------------------------------- | |
| Total raising funds costs | 23,291 | 16,154 |
| ------------------------------- | ------------------------------- | |
| Charitable activities | ||
| Unrestricted | ||
| Direct costs | ||
| Educational projects | 2,881 | 1,686 |
| Workshop costs | 19,954 | 12,112 |
| --------------------------------- | --------------------------------- | |
| 22,835 | 13,798 | |
| ============== | ============== | |
| Other | ||
| Insurance | 3,209 | 3,237 |
| Depreciation | 4,186 | 4,034 |
| Management | 1,100 | 229 |
| Legal Fees | 3,948 | 650 |
| Accountancy | 4,530 | 3,882 |
| ------------------------------- | ------------------------------- | |
| 16,973 | 12,032 | |
| ============ | ============ | |
| Total charitable activities - unrestricted | 39,808 | 25,830 |
| ============ | ============ | |
| Restricted | ||
| Ship development costs | - | 1,232 |
| Depreciation | 2,207 | 2,162 |
| ------------------------------ | ------------------------------ | |
| 2,207 | 3,394 | |
| ------------------------------ | ------------------------------ | |
| Total charitable activities | 42,015 | 29,224 |
| ============== | ============== |
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
4. Tangible fixed assets
| Longshed | Longshed | Total | ||
|---|---|---|---|---|
| Equipment & Tools | Improvements | |||
| £ |
£ |
£ | ||
| Cost | ||||
| At 1 January 2022 | 10,941 | 119,999 | 130,940 | |
| Additions | - | 2,140 | 2,140 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| At 31 December 2022 | 10,941 | 122,139 | 133,080 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| Depreciation | ||||
| At 1 January 2022 | 6,336 | 10,715 | 17,051 | |
| Charge for the year | 2,188 | 4,205 | 6,393 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| At 31 December 2022 | 8,524 | 14,920 | 23,444 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| Carrying amount | ||||
| At 31 December 2022 | 2,417 | 107,219 | 109,636 | |
| -------------------------- | -------------------------- | -------------------------- | ||
| At 31 December 2021 | 4,605 | 109,284 | 113,889 | |
| -------------------------- | ------------------------- | -------------------------- | ||
| 2022 | 2021 | |||
| 5 | Debtors | £ | £ | |
| Other debtors | 4,296 | 7,321 | ||
| ============ | ============ | |||
| 6 | Creditors: Amounts falling due within one year | |||
| Trade creditors | 2,496 | 6,893 | ||
| Accruals and deferred income | 5,599 | 3,642 | ||
| -------------------------- | ---------------------------- | |||
| 8,095 | 10,535 | |||
| ============ | ============ | |||
| Including deferred income: | ||||
| Arising in year | 705 | - | ||
| ============ | ============ |
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. No other restricted funds are held at 31 December 2022.
| Balance at | Incoming | Resources | Gross | Balance at | |
|---|---|---|---|---|---|
| 1 Jan 22 | Resources | Expended | Transfers | 31 Dec 22 | |
| £ | £ | £ | £ | £ | |
| The Longshed | 67,028 | 1,400 | (2,207) | - | 66,221 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- |
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
7 Restricted funds (cont)
| 7 | Restricted funds (cont) | |||||
|---|---|---|---|---|---|---|
| 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 | ||
| ============ | ============ | ============ | ============ | ============ | ||
| 8 | Analysis of net assets | between funds | ||||
| 2022 | ||||||
| Unrestricted | Restricted | Total | ||||
| £ | £ | £ | ||||
| Fixed Assets | 43,415 | 66,221 | 109,636 | |||
| Current Assets | 51,226 | - | 51,226 | |||
| Current Liabilities | (8,095) | - | (8,095) | |||
| ---------------------------- | ---------------------------- | ---------------------------- | ||||
| 86,546 | 66,221 | 152,767 | ||||
| ============ | ============ | ============ | ||||
| 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 | ||||
| ============ | ============ | ============ |
8 Analysis of net assets between funds
9 Related parties
During the year ended 31 December 2022 unrestricted donations totalling £499 were received from four of the trustees. (2021: £649 unrestricted donations from three trustees).
Donations from a spouse of a trustee totalled £120 (2021: £240)
In addition, £100 was donated by a Limited Company, of which one of the trustees was a Director. (2021: £240)
No remuneration was paid to the trustees during the year. (2021: £Nil).
Reimbursement totalling £427 was made to four of the trustees for expenditure incurred on behalf of the charity relating to marketing, events, education and longshed maintenance and repairs. (2021: £3,173 reimbursement of marketing, event and longshed maintenance and repairs to three trustees).
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WOODBRIDGE RIVERSIDE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
Related parties (continued)
Only immaterial expenses were waived by trustees.
No ex-gratia payments have been made to any trustee or volunteer during the year ended 31 December 2022 (2021: £Nil).
A retiring trustee received a gift of a plant costing £110.
The charitable activities are carried out by unpaid volunteers.
10 Employees Remuneration
There were no employees during the year ended 31 December 2022 (2021: 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 2021
| Note | Unrestricted | Restricted | Total | |
|---|---|---|---|---|
| Funds | Funds | 2021 | ||
| Income and Endowments | 2 | £ | £ | £ |
| from: | ||||
| Donations and legacies | 39,598 | 13,503 | 53,101 | |
| Charitable ctivities | 15,054 | - | 15,054 | |
| Other trading activities | 11,277 | - | 11,277 | |
| Other income | 3,720 | - | 3,720 | |
| ------------------------------------ | ------------------------------------ | ------------------------------- | ||
| 69,649 | 13,503 | 83,152 | ||
| ------------------------------------ | ------------------------------------ | ------------------------------- | ||
| Expenditure on: | 3 | |||
| Raising funds | 16,154 | - | 16,154 | |
| Charitable activities | 25,830 | 3,394 | 29,224 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| 41,984 | 3,394 | 45,378 | ||
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Net surplus | 27,665 | 10,109 | 37,774 | |
| Transfers between funds | 23,214 | (23,214) | - | |
| Reconciliation of funds: | ||||
| Total funds brought forward | 26,671 | 80,133 | 106,804 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ | ||
| Total funds carried forward | 77,550 | 67,028 | 144,578 | |
| ------------------------------------ | ------------------------------------ | ------------------------------------ |
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