BISHOPSTEIGNTON HERITAGE
CHARITABLE INCORPORATED ORGANISATION NUMBER 1169410
TRUSTEES’ REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
BISHOPSTEIGNTON HERITAGE
A CHARITABLE INCORPORATED ORGANISATION
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS SCHEDULE OF CONTENTS FOR THE YEAR ENDED 31 DECEMBER 2022
| PAGE | NUMBER |
|---|---|
| TRUSTEES AND ADVISORS | 1 |
| REPORT OF THE TRUSTEES | 2-5 |
| STATEMENT OF FINANCIAL ACTIVITIES | 6 |
| BALANCE SHEET | 7 |
| NOTES TO THE FINANCIAL STATEMENTS | 8-9 |
| INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES | 10 |
Page | 2
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
TRUSTEES AND ADVISERS
| Trustees | Mr John Parkes (Chair) |
|---|---|
| Mrs Jessica Gibby (Vice Chair) | |
| Mr Nigel Edwards | |
| Mr Kenneth Irvin | |
| Mrs Elizabeth Kirkland | |
| Mr John Reynolds (from 7 2 2022) | |
| Mr Nigel Wollen (retired 31 12 2022) | |
| Ms Surya Patterson (retired 30 11 2022) | |
| Charity Commission Number | 1169410 |
| Principal Address | Community Centre |
| Shute Hill | |
| Bishopsteignton | |
| Teignmouth | |
| Devon TQ14 9QL | |
| Independent Examiner | Ellen Howard |
| 4 North Street | |
| Martock | |
| Somerset TA12 6DH | |
| Bankers | CAF Bank Ltd |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West Malling | |
| Kent ME19 4JQ | |
| Nat West Bank | |
| 48 Courtenay Street | |
| Newton Abbot | |
| Devon TQ12 2EE |
Page | 3
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Reserve Policy, Investment Policy and Risk Management
The Trustees review the Reserves of the Charity on a regular basis and consider these are adequate to ensure the continuation of Our Aims
These are to have sufficient Cash Reserves in order to maintain sufficient working capital for the Charity to operate for a minimum of 12 months from the date of signing of this Report, together with a Capital Cash Reserve sum (presently £50,000) to act as a “Buffer” or to be used for any sizeable project that may fall within the remit of Our Charity.
At the year end our major investments were held in property, with two of these generating sufficient net rental income to fund day to day running costs. This policy is reviewed on a regular basis.
Currently we have no Stock Exchange/Charity Commission type investments but again this policy is kept under review
The Trustees regularly consider the major risks to which the Charity is exposed and consider that these are mitigated via the Governance of our Board of Trustees which has suitable knowledge and experience of the field in which we operate.
Results
The detailed financial activity for the year is shown on page 6. These disclose total Income of £43,328 (2021 £39,890) with total expenditure of £36,444 (2021 £32,667) giving us a surplus of £6,884 (2021 £7,223) for the year.
Chairman’s Review of Activities and Developments
2022 has seen many changes within Bishopsteignton Heritage. The re-opening of the Hub post Covid has allowed the team to establish increasingly strong links with the local community and to attract more regular volunteers as well as casual visitors. Our Plymouth University student, Alethia, continued her excellent work until the end of the college year in July and contributed considerably to the efforts of the Hub team during her time with us.
A new volunteer, Natalia, brought her own research project about the women of Bishopsteignton and put together 7 articles to celebrate International Women’s Day. These were displayed around the village, posted on the website and are now in frames around the Hub. Natalia is continuing her work with a further set of articles and is working with Imogen gathering oral histories from local residents. This involves recording an interview with the person, transcribing the recording and creating one, or more, articles from the content.
Hilary and Ruth have also joined the team of regular volunteers who attend on a Friday and have helped with digitisation and gathering information for the various articles and exhibitions.
Page | 4
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Thanks to all the volunteers for the hard work they put in and the pleasant atmosphere that they help to create within the Hub.
The Hub team of Dawn Rogers, Imogen Smith and James Hooper have developed a great working relationship in which everyone’s opinion is valued. They have put on four exhibitions during the year celebrating the Bishopsteignton Players, the Queen’s Platinum Jubilee, Remembrance Day and the Twinning Association. There have been visits from the Scouts, Probus and people attending the Remembrance Day service to view these exhibitions and this has led to people wanting to visit the Hub and share their memories with the Team.
James and Dawn have visited Bishopsteignton House to give a presentation to the residents and have recorded a tour of the Village gathering the memories of Colin Back, who has proved to be a mine of information. These recordings will develop into a series of articles for the website. Imogen and Dawn have given a village tour to the Kingsteignton History group and Imogen one for the years 3 and 4 from Bishopsteignton Primary School. James has also done a talk at the Memory Café.
As well as these outreach activities, the collection of digitally archived material continues to grow apace and James is working on his ODIn ( O nline D igital In terface) project to allow all the information and images that are being stored to be accessed and researched by the website users. Training days have been held for the Collecting of Oral Histories by the Oral History Society and also Handling Techniques, which were attended by the Hub team, volunteers and other guests from other local museums.
Thanks to the Hub team for all their hard work over the year.
There have also been changes amongst the Trustees. Surya Patterson and Nigel Wollen have completed their term of office and elected to move on, although Nigel is continuing as Secretary and unofficial legal advisor. Thanks go out to them for all the time and hard work they have dedicated to Bishopsteignton Heritage during their term and also to the Trustees who are still part of the team; Jess Gibby, Liz Kirkland and Ken Irvin.
Joining the ranks we have welcomed John Reynolds, a retired bank manager, who is taking over the role of Treasurer from the long serving Nigel Edwards, to whom we owe a debt of gratitude for his work and dedication, and Chris Wikeley, who has a wealth of experience in many aspects of corporate life.
New shelves have been installed in the Hub and this has allowed the old shelving to be relocated into the Knapman Room where artefacts and equipment can be stored. A reciprocal arrangement was reached with the Parish Council whereby Kim, the Parish Clerk, has relocated her workspace to the Hub and we have used the Parish Council office for storage.
Progress has been made with Historic England to explore the possibility of restoring and developing the Bishop’s Palace site and this will be ongoing during 2023.
Page | 5
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
Ken, James and I have been working with the Parish Council and Community Centre representatives on a regeneration project for the Community Centre. One of the priorities of the working group was to clear the old Museum room to allow the floor to be examined. As this is being written, the removal of all exhibits to the Knapman Room has been completed and these have been catalogued by Imogen and James.
Bishopsteignton Heritage has agreed to reunite loaned exhibits with their owners, where possible, and then decide which of the donated ones should be retained for future exhibitions.
In conclusion I feel that Bishopsteignton Heritage has made excellent progress this year in many directions, not least the strengthening of links with local people.
Let’s hope that 2023 is another year of development and an increasing presence within village life.
Trustees
The Trustees who served during the year were; - John Parkes, John Reynolds, Nigel Edwards, Elizabeth Kirkland, Surya Patterson, Jessica Gibby, Nigel Wollen and Ken Irvin.
Surya Patterson retired on 26 November 2022 and Nigel Wollen retired 31 December 2022.
John Reynolds was appointed a Trustee on 7 February 2022.
Since the year end Christopher Wikeley has been appointed a Trustee on 9 January 2023.
Date
John Parkes Chairman of Trustees of Bishopsteignton Heritage
Page | 6
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Fund Unrestricted Fund | |
|---|---|
| 2022 2021 | |
| £ £ | |
| INCOME and ENDOWMENT | |
| Other trading activities-rental income | 43.064 39,354 |
| Income from interest | 229 246 |
| Sundry receipts | 35 290 |
| -------- -------- | |
| - | |
| Total Income and Endowments | 43,328 39,890 |
| --------- ------- | |
| PAYMENTS | |
| Payments on Charitable Activities: | |
| Property costs | 1,448 1,446 |
| Expenses re functions | 10 267 |
| Sign Board costs | 970 60 |
| Agents. Lettings fees | 4,714 4,707 |
| Student Travel costs | 170 0 |
| _____ ------- | |
| 7,312 6,480 | |
| -------- -------- | |
| Management and Administering the Charity: | |
| Subscriptions/licenses | 461 651 |
| Admin /internet /Sundry | 1,953 1,577 |
| Insurances | 2,563 2,287 |
| Bank charges | 113 116 |
| Creative consultant fees& expenses | 500 4,810 |
| Website and Archivist fees | 10,080 9,820 |
| Printing, copying and marketing | 154 1,137 |
| Staff wages | 5,700 0 |
| Depreciation | 1,974 1,788 |
| Rent and service charges | 3,735 3,515 |
| Governance; Independent Examiners fee | 130 120 |
| General maintenance/minor capital | 1,769 366 |
| _____ ------ | |
| - | |
| 29,142 6,187 | |
| _____ ------ | |
| TOTAL PAYMENTS | 36,444 32,667 |
| -- | |
| NET RECEIPTS/ (PAYMENTS) | 6,884 7,223 |
| _____ ------- | |
| NET MOVEMENT IN FUNDS | 6,884 7,223 |
| FUNDS BROUGHT FORWARD | 1,281,842 1,274,619 |
| ------------- ------------ | |
| FUNDS CARRIED FORWARD | £1,288.726 £1,281.842 |
Page | 7
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
BALANCE SHEET AS AT 31 DECEMBER 2022
| BALANCE SHEET AS AT 31 DECEMBER 2022 | BALANCE SHEET AS AT 31 DECEMBER 2022 | BALANCE SHEET AS AT 31 DECEMBER 2022 |
|---|---|---|
| ______________ | ||
| Note | 2022 2021 | |
| TANGIBLE ASSETS | ||
| £ £ | ||
| Land and Property | 4A |
1,201,603 1,201,603 |
| Furniture and Equipment | 4B | 7,786 6,871 |
| ------------ ---------- | ||
| 1,209,389 1,208,474 | ||
| CURRENT ASSETS | ||
| Cash at CAF Bank | 17,522 30.036 | |
| Shawbrook Bank | 0 44,011 | |
| Nat West | 64,036 0 | |
| In hand | 54 35 | |
| Prepaid insurances | 1,162 1,008 | |
| Letting Agents fees in advance | 334 139 | |
| --------- ------- | ||
| 83,108 75,229 | ||
| --------- ------- | ||
| CURRENT LIABILITIES | ||
| Rent in advance | (3,375) (1,412) | |
| Sundry creditors | (396) (449) | |
| -------- ---------- | ||
| (3,771) (1,861) | ||
| ------- --------- | ||
| NET CURRENT ASSETS | 79,337 73,368 | |
| ----------- ---------- | ||
| TOTAL ASSETS | £1,288,726 £1,281,842 | |
| ----------- ------------ | ||
FUNDS OF THE CHARITY |
||
General Fund -Unrestricted |
£ 1,288,726 £1,281,842 | |
| ------------- ------------ | ||
| Trustee | ||
| Trustee | ||
| Dated |
Page | 8
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
NOTES TO THE FINANCIAL STATEMENTS
1A Accounting Policies
a) Basis of Accounting and Preparation
T hese Financial Statements have been prepared on the going concern basis and under the historical cost convention, with items recognised at cost subject to some land and property being bequeathed at valuation, and in accordance with applicable accounting standards and the Charities SORP (Statement of Recommended Practice: “Accounting and Reporting by Charities”). and the Charities Act 2011.
b) Incoming Resources Income is accounted for on a receivable basis.
- c) Resources Expended Expenditure is inclusive of VAT where applicable.
d) Fund Accounting Unrestricted Funds are available for use at the discretion of the Trustees in furtherance of the Charitable Objectives of the Charity
e) Tangible Fixed Assets
Land and Property, all in Bishopsteignton is a combination of valuation when bequeathed and cost of additions since that time. No depreciation/amortisation is charged as the Trustees consider the figure for the total as disclosed is a realistic figure for the overall values at Balance Sheet date.
Equipment and Security System are depreciated so as to write the cost of the Assets off over estimated useful lives at an annualised rate of between 10 & 33% Straight Line, Furniture is depreciated at an annualised rate of between 10 & 15% Straight Line
1B Taxation
The Charity is exempt from Taxation on its Charitable Activities
2 A Trustees Remuneration.
No Trustee received any remuneration in the year under review (2021 none) but two Trustees (2021 four )were reimbursed £1,907 ( 2021 £489) in total for expenses incurred on normal Charity activities.
2 B Particulars of Employees
The total staff costs in the year under review was £5.700 (2021 none) The average number of employees in the year was 1 (2021 none) with no employee receiving more than £60,000 in the year (2021 none)
3 Governance costs 2022 2021 Independent Examiners fee £130 £120
Page | 9
BISHOPSTEIGNTON HERITAGE (a Charitable incorporated Organisation) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022
NOTES TO THE FINANCIAL STATEMENTS (continued)
- 4 A Land and Property - all in Bishopsteignton
Valuation/cost at 1 January and 31 December 2022 £1,201,603 4 B Other Fixed Assets Furniture Equipment Security System Total Cost at 1 January 2022 4,456 4,676 1,398 10,530 Acquisitions in year 2,029 860 - 2,889 --------- -------- -------- ------Cost at 31 December 2022 6,485 5,536 1,398 13,419 -------- ------ --------- ------Depreciation 1 January 2022 (1,192) ( 2,166) (301) (3,659) Depreciation in year (677) (1,158) (139) (1,974) Depreciation 31 December 2022 (1,869) (3,324) (440) (5,633) ------- ------- -------- ------Net Value 31 December 2022 £4,616 £2,212 £958 £7,786 ------- ------- -------- ------
5) Voluntary Help and Donations in Kind
For the purpose of these accounts, no value has been attached to any voluntary time spent/help received or to any donations in kind.
6) Lease Commitments
Bishopsteignton Heritage entered into a lease with Bishopsteignton Community Centre CIO (Charity No 1180685) for a period of 20 years which commenced 1st March 2019.
The rent per annum is £2,800 with a service charge which represents a proportion of the Landlord’s costs of maintaining the Building by reference to floor space and is reviewed annually. There is a rent review due on 1 March 2024.There is a break clause which gives Bishopsteignton Heritage the right to terminate the lease on 6 months notice at any time.
Page | 10