**Registered number: CE009076 Charity number: 1170256**
## **PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **PHILIP WAYRE UPLAND TRUST**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the charity, its trustees and advisers**|1|
|**Trustees' report**|2 - 4|
|**Independent examiner's report**|5|
|**Statement of financial activities**|6|
|**Income and expenditure account**|7|
|**Balance sheet**|8|
|**Notes to the financial statements**|9 - 18|
**PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Trustees**
Sonia Parnell, Trustee (appointed 18 November 2016) Nicholas Kingsley, Trustee (appointed 18 November 2016) Lindsay Waddell, Trustee (appointed 18 November 2016) Dr Sian Whitehead, Trustee (appointed 15 June 2017)
## **Company registered number**
CE009076
## **Charity registered number**
1170256
## **Registered office**
Dunwood, Church Road, Beetley, Dereham, Norfolk, NR20 4AB
**Chief executive officer**
Sonia Parnell
## **Accountants**
Larking Gowen LLP, Faiers House, Gilray Road, Diss, IP22 4WR
## **Solicitors**
Sprake and Kinglsey, 16 Broad Street, Bungay, Suffolk, NR35 1EN
Page 1
**PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
The trustees present their annual report together with the financial statements of the company for the 18 month period from 1 January 2020 to 31 December 2020. The trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2015) as amended by Update Bulletin 1 (effective 1 January 2015).
Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and Activities**
## **a. Policies and objectives**
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the charity commission relating to public benefit.
The objectives of the charity are: to protect and restore endangered upland wildlife and wild areas; to increase peoples awareness, knowledge and understanding of the value of upland conservation including the restoration of lost landscapes for future generations; to advance the education and knowledge of the public in conservation through scientific study and research.
## **b. Activities for achieving objectives**
Management of the charity’s two unique upland sites to conserve and enhance the diversity of habitat for endangered upland species particularly black grouse and breeding waders such as curlew and lapwing, two of the Trust’s target species. The charity has an education, research and monitoring programme contributing to scientific study on upland species and habitat. It is involved in working partnerships with scientific groups using the two upland sites for monitoring, contributing to the prevention of further decline of red-listed upland species and improvement of target habitat. Both sites are open access land under the CROW Act. The website of the charity invites any interested party to contact its volunteer wardens or trustees to arrange guided visits to the sites both for enjoyment and education on upland conservation.
## **c. Main activities undertaken to further the charity's purposes for the public benefit**
The Trust runs its land management programme to improve moorland habitat diversity in turn benefiting the Trusts target species of breeding waders and black grouse. Ongoing projects and monitoring programmes are in place to improve understanding of the status of upland species and habitats. Some of these are done in partnership with other organisations and currently include a partnership agreement with the Game and Wildlife Conservation Trust (GWCT). This collaboration will contribute to the knowledge base for future public benefit. This is in addition to the Trust’s ongoing programme to regenerate dwarf shrub and sphagnum moss, an important carbon store, providing improved habitat and food source for the Trust’s target species. Comprehensive site surveys are carried out and include breeding birds, vegetation and butterflies, the results of which are published on the Trust’s website, further contributing to ongoing scientific monitoring. Tree planting, rush management, managed grazing and bracken control are undertaken to improve habitat diversity with the aim of increasing target species population and moorland vegetation. Wall, fence and footpath maintenance is a continuous activity on both sites to ensure the long-term benefit to the public and to contribute to the restoration of the moorland landscape.
## **Achievements and performance**
Page 2
**PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **a. Review of activities**
In a challenging year due to the Covid 19 pandemic all site visits were kept to a minimum though monitoring and maintenance continued. The projects developed by the partnership between the GWCT and the Trust continued and have been developed to include components of practical conservation management; research and monitoring; and demonstration, training and education. The Trust’s ongoing dwarf shrub and sphagnum regeneration project has continued resulting in good heather growth and sphagnum moss spread, the latter being an important carbon store. Evidence of heather being eaten by red or black grouse has been found, a sign of the project beginning to achieve its aim. Breeding bird surveys were undertaken in May and August of this year, the results of which are published on the Trust’s website. Supplementary feeding of barn owls has again proved successful with the ringing of five owlets, an increase on 2019. Maintenance of the tree planting programme is ongoing contributing to the diversity of habitat and carbon sequestration and a further six scrapes have been put in. Ongoing site maintenance has included cattle grid removal, improvement of footpath and bridge access and replacement of gates and signage to benefit the public and volunteers.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements..
## **b. Reserves policy**
The reserves policy of the company is to maintain a level of reserves which secures the long term financial stability of the company by managing income and expenditure carefully so as to achieve its aims, and ensuring the company has sufficient funds to cover any unforeseen expenditure that may occur.
## **Structure, governance and management**
## **a. Constitution**
The company was established as a foundation model Charitable Incorporated Organisation (CIO). It was incorporated and registered with the Charity Commission on the 18 November 2016 and the registered charity number is 1170256.
The principal object of the company is to promote the conservation of the environment by the preservation and protection of endangered upland wildlife and wild areas, and by raising public awareness of the value of conservation of unique habitats, and to advance the education of the public in conservation by means that include the promotion and support of scientific study and research.
## **b. Method of appointment or election of Trustees**
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the constitution. There must be at least three trustees. There is no maximum number of trustees that may be appointed.
In selecting individuals for appointment as trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
Page 3
**(A company limited by guarantee)**
## **PHILIP WAYRE UPLAND TRUST**
## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2020**
The only persons eligible to be members of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else. Any member and charity trustee who ceases to be a charity trustee automatically ceases to be a member of the CIO.
## **c. Policies adopted for the induction and training of Trustees**
The charity trustees will make available to each new charity trustee, on or before his or her first appointment:
- (a) a copy of the current version of the constitution; and
- (b) a copy of the CIO's latest Trustees' Annual Report and statement of accounts.
## **d. Organisational structure and decision making**
Any decision may be taken by the charity trustees either:
at a meeting of the charity trustees; or
by resolution in writing or electronic form agreed by all of the charity trustees, which may comprise either a single document or several documents containing the text of the resolution in like form to each of which one or more charity trustees has signified their agreement.
The charity trustees may delegate any of their powers or functions to a committee or committees, and if they do, they shall determine the terms and conditions on which delegation is made. The charity trustees may at any time alter those terms and conditions, or revoke the delegation.
## **Funds held as custodian**
The CIO currently holds no funds as custodian.
This report was approved by the trustees, on 30 October 2021 and signed on their behalf by:
................................................
## **Sonia Parnell**
Trustee
Page 4
**PHILIP WAYRE UPLAND TRUST (A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Independent examiner's report to the trustees of Philip Wayre Upland Trust (the 'company')**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2020.
This report is made solely to the company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's trustees as a body, for my work or for this report.
## **Responsibilities and basis of report**
As the trustees of the company (and 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 the company's accounts 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 can 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.
Signed:
Dated: 30 October 2021
Ian Webster ICAEW
**For and on behalf of Larking Gowen LLP** Chartered Accountants Diss
Page 5
## **PHILIP WAYRE UPLAND TRUST**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Unrestricted**
**funds**
**2020**
**£**
**Income from:**
Basic Farm Payment
2
**29,788**
Environmental Stewardship
2
**30,266**
Investments
3
**6,569**
Other income
**5,500**
**Total income**
**72,123**
**Expenditure on:**
Charitable activities:
Direct costs
**14,888**
Governance costs
**21,281**
**Total expenditure**
**36,169**
**Net income / (expenditure) before**
**investment gains**
**35,954**
Net gains on investments
9
**5,713**
**Net income / (expenditure) before other**
**recognised gains and losses**
**41,667**
**Net movement in funds**
**41,667**
**Reconciliation of funds:**
Total funds brought forward
**534,720**
**Total funds carried forward**
**576,387**|**Designated**
**funds**
**2020**
**£**
**-**
**-**
**-**
**-**
**-**
**18,227**
**-**
**18,227**
**(18,227)**
**-**
**(18,227)**
**(18,227)**
**20,000**
**1,773**|**Total**
**funds**
**2020**
**£**
**29,788**
**30,266**
**6,569**
**5,500**
**72,123**
**33,115**
**21,281**
**54,396**
**17,727**
**5,713**
**23,440**
**23,440**
**554,720**
**578,160**|_Total_
_funds_
_2019_
_£_
_31,002_
_60,533_
_5,884_
_2,000_|
|---|---|---|---|
||||_99,419_|
||||_16,201_
_14,943_|
||||_31,144_|
||||_68,275_
_14,166_|
||||_82,441_
_82,441_
_472,279_|
||||_554,720_|
The notes on pages 9 to 18 form part of these financial statements.
Page 6
## **PHILIP WAYRE UPLAND TRUST**
## **(A company limited by guarantee)**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Unrestricted**
**funds**
**Note**
**2020**
**£**
Income
**72,123**
Gains / (losses) on investments
**5,713**
**Gross income in the reporting period**
**77,836**
Less: Total expenditure
**36,169**
**Net income/(expenditure) for the year**
**41,667**
**Net income/(expenditure) for the financial**
**year**
**41,667**|**Designated**
**funds**
**2020**
**£**
**-**
**-**
**-**
**18,227**
**(18,227)**
**(18,227)**|**Total**
**funds**
**2020**
**£**
**72,123**
**5,713**
**77,836**
**54,396**
**23,440**
**23,440**|_Total_
_funds_
_2019_
_£_
_99,419_
_14,166_|
|---|---|---|---|
||||_113,585_
_31,144_|
||||_82,441_|
||||_62,441_|
The notes on pages 9 to 18 form part of these financial statements.
Page 7
## **PHILIP WAYRE UPLAND TRUST (A company limited by guarantee) REGISTERED NUMBER: CE009076**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|**Note**
**Fixed assets**
Tangible assets
8
Investments
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors:**amounts falling due within one
year
11
**Net current assets**
**Net assets**
**Charity Funds**
Designated funds
12
Funds ring fenced for fencing and walling
12
Unrestricted funds
12
**Total funds**|**£**
**30,734**
**58,378**
**89,112**
**(2,138)**|**2020**
**£**
**175,232**
**315,954**
**491,186**
**86,974**
**578,160**
**-**
**1,773**
**576,387**
**578,160**|_£_
_452_
_127,654_
_128,106_
_(1,768)_|_2019_
_£_
_168,023_
_260,359_|
|---|---|---|---|---|
|||||_428,382_
_126,338_|
|||||_554,720_|
|||||_-_
_20,000_|
|||||_534,720_|
|||||_554,720_|
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved and authorised for issue by the trustees on 30 October 2021 and signed on their behalf, by:
................................................
## **Sonia Parnell**
The notes on pages 9 to 18 form part of these financial statements.
Page 8
**PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Philip Wayre Upland Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Company status**
The company is a Foundation Charitable Incorporated Organisation (CIO). The members of the company are the trustees named on page 1.
## **1.3 Income**
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
## **1.5 Intangible fixed assets and amortisation**
Intangible assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for impairment.
Page 9
**PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies (continued)**
## **1.6 Tangible fixed assets and depreciation**
All assets costing more than £500 are capitalised.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Freehold property No depreciation is charged Other fixed assets - 25% Reducing balance
## **1.7 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.
## **1.8 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
## **1.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.10 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 10
**PHILIP WAYRE UPLAND TRUST**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **1. Accounting policies (continued)**
## **1.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
## **1.12 Financial instruments**
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.13 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and 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 financial statements.
## **2. Income from grants**
|**Unrestricted**
**funds**
**2020**
**£**
Basic Farm Payment
**29,788**
Environmental Stewardship
**30,266**
**60,054**
_Total 2019_
_91,535_|**Designated**
**funds**
**2020**
**£**
**-**
**-**
**-**
_-_|**Total**
**funds**
**2020**
**£**
**29,788**
**30,266**
**60,054**
_91,535_|_Total_
_funds_
_2019_
_£_
_31,002_
_60,533_|
|---|---|---|---|
|||||
|||||
||||_91,535_|
|||||
Page 11
## **PHILIP WAYRE UPLAND TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **3. Investment income**
|**Unrestricted**
**funds**
**2020**
**£**
Dvidends and Unit Trust interest
**6,552**
Interest received
**17**
**6,569**
_Total 2019_
_5,884_
**Direct costs**
**Unrestricted**
**funds**
**£**
Repairs and maintenance
**10,552**
Game & Wildlife Conservation
Trust project
**4,336**
Habitat and botanical survey
**-**
**14,888**
_Total 2019_
_16,201_|**Unrestricted**
**funds**
**2020**
**£**
Dvidends and Unit Trust interest
**6,552**
Interest received
**17**
**6,569**
_Total 2019_
_5,884_
**Direct costs**
**Unrestricted**
**funds**
**£**
Repairs and maintenance
**10,552**
Game & Wildlife Conservation
Trust project
**4,336**
Habitat and botanical survey
**-**
**14,888**
_Total 2019_
_16,201_|**Designated**
**funds**
**2020**
**£**
**-**
**-**
**-**
_-_
**Designated**
**funds -**
**Fencing &**
**walling**
**£**
**18,227**
**-**
**-**
**18,227**
_-_||**Total**
**funds**
**2020**
**£**
**6,552**
**17**
**6,569**
_5,884_
**Total**
**2020**
**£**
**28,779**
**4,336**
**-**
**33,115**
_16,201_|_Total_
_funds_
_2019_
_£_
_5,848_
_36_|
|---|---|---|---|---|---|
|||||||
|||||||
||||||_5,884_|
||||||_Total_
_2019_
_£_
_6,115_
_5,964_
_4,122_
_16,201_|
|||||||
|||||||
|||||||
||**14,888**|||||
|||||||
|||||||
|||||||
||_16,201_|||||
## **4. Direct costs**
Page 12
**(A company limited by guarantee)**
## **PHILIP WAYRE UPLAND TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **5. Governance costs**
|**Unrestricted**
**funds**
**Designated**
**funds**
**2020**
**£**
**2020**
**£**
Travel & subsistence
**3,058**
**-**
Legal & professional fees
**6,690**
**-**
Machinery expenses
**1,292**
**-**
Insurance
**2,210**
**-**
Printing, postage & stationery
**102**
**-**
Website costs
**60**
**-**
Investment management fees
**6,687**
**-**
Sundry expenses
**291**
**-**
Profit on sale of fixed assets
**(2,902)**
**-**
Depreciation
**3,793**
**-**
Amortisation
**-**
**-**
**21,281**
**-**|**Total**
**funds**
**2020**
**£**
**3,058**
**6,690**
**1,292**
**2,210**
**102**
**60**
**6,687**
**291**
**(2,902)**
**3,793**
**-**
**21,281**|_Total_
_funds_
_2019_
_£_
_3,448_
_3,576_
_1,817_
_1,796_
_72_
_60_
_-_
_569_
_-_
_1,390_
_2,215_|
|---|---|---|
||||
||||
|||_14,943_|
## **6. Net income/(expenditure)**
This is stated after charging:
||**2020**|_2019_|
|---|---|---|
||**£**|_£_|
|Depreciation of tangible fixed assets:|||
|- owned by the charity|**3,793**|_1,390_|
|Amortisation of intangible fixed assets|**-**|_2,215_|
During the year, no trustees received any remuneration (2019 - £NIL). During the year, no trustees received any benefits in kind (2019 - £NIL).
2 trustees received reimbursement of expenses amounting to £2,413 in the current year, (2019 - 2 trustees - £3,175).
Page 13
**(A company limited by guarantee)**
## **PHILIP WAYRE UPLAND TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **7. Intangible fixed assets**
|**Intangible fixed assets**||
|---|---|
||**Basic Farm**|
||**Payment**|
||**Entitlements**|
||**£**|
|**Cost**||
|At 1 January 2020 and 31 December 2020|**11,071**|
|**Amortisation**||
|At 1 January 2020 and 31 December 2020|**11,071**|
|**Carrying amount**||
|At 31 December 2020|**-**|
## **8. Tangible fixed assets**
|**Cost**
At 1 January 2020
Additions
Disposals
At 31 December 2020
**Depreciation**
At 1 January 2020
Charge for the year
On disposals
At 31 December 2020
**Net book value**
At 31 December 2020
_At 31 December 2019_|**Freehold**
**property**
**£**
**163,852**
**-**
**-**
**163,852**
**-**
**-**
**-**
**-**
**163,852**
_163,852_|**Other fixed**
**assets**
**£**
**37,638**
**12,600**
**(4,950)**
**45,288**
**33,467**
**3,793**
**(3,352)**
**33,908**
**11,380**
_4,171_|**Total**
**£**
**201,490**
**12,600**
**(4,950)**
**209,140**
**33,467**
**3,793**
**(3,352)**
**33,908**
**175,232**
_168,023_|
|---|---|---|---|
Page 14
**(A company limited by guarantee)**
## **PHILIP WAYRE UPLAND TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
|**9.**
**Fixed asset investments**
**Market value**
At 1 January 2020
Dividends and interest received (reinvested)
Management fees
Revaluations
Additional investment - funds transferred in
At 31 December 2020
**Historical cost**
**Investments at market value comprise:**
Listed investments
All the fixed asset investments are held in the UK
**10.**
**Debtors**
Prepayments and accrued income
**11.**
**Creditors: Amounts falling due within one year**
Other creditors
Accruals and deferred income||**2020**
**£**
**315,954**
**2020**
**£**
**30,734**
**2020**
**£**
**468**
**1,670**
**2,138**||**Listed**
**securities**
**£**
**260,359**
**6,569**
**(6,687)**
**5,713**
**50,000**
**315,954**
**300,061**
_2019_
_£_
_260,359_
_2019_
_£_
_452_
_2019_
_£_
_468_
_1,300_
_1,768_|
|---|---|---|---|---|
||||||
||||||
Page 15
**(A company limited by guarantee)**
## **PHILIP WAYRE UPLAND TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **12. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Designated funds**
Funds ring fenced for fencing and
walling
Total of funds
**Statement of funds - prior year**
_Balance at_
_1 January_
_2019_
_£_
**General funds**
General Funds
_472,279_
**Designated funds**
Funds ring fenced for
fencing and walling
_-_
Total of funds
_472,279_|**Balance at**
**1 January**
**2020**
**£**
**534,720**
**20,000**
**554,720**
_Income_
_£_
_99,419_
_-_
_99,419_|**Income Expenditure**
**£**
**£**
**72,123**
**(36,169)**
**-**
**(18,227)**
**72,123**
**(54,396)**
_Expenditure_
_Transfers_
_in/out_
_£_
_£_
_(31,144)_
_(20,000)_
_-_
_20,000_
_(31,144)_
_-_|**Gains/**
**(Losses)**
**£**
**5,713**
**-**
**5,713**
_Gains/_
_(Losses)_
_£_
_14,166_
_-_
_14,166_|**Balance at**
**31**
**December**
**2020**
**£**
**576,387**
**1,773**
**578,160**
_Balance at_
_31_
_December_
_2019_
_£_
_534,720_
_20,000_
_554,720_|
|---|---|---|---|---|
Page 16
**(A company limited by guarantee)**
## **PHILIP WAYRE UPLAND TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **13. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2020**
**£**
Tangible fixed assets
**175,232**
Fixed asset investments
**315,954**
Current assets
**87,339**
Creditors due within one year
**(2,138)**
**576,387**
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2019_
_£_
Tangible fixed assets
_168,023_
Fixed asset investments
_260,359_
Current assets
_108,106_
Creditors due within one year
_(1,768)_
_534,720_|**Designated**
**funds**
**2020**
**£**
**-**
**-**
**1,773**
**-**
**1,773**
_Designated_
_funds_
_2019_
_£_
_-_
_-_
_20,000_
_-_
_20,000_|**Total**
**funds**
**2020**
**£**
**175,232**
**315,954**
**89,112**
**(2,138)**
**578,160**
_Total_
_funds_
_2019_
_£_
_168,023_
_260,359_
_128,106_
_(1,768)_
_554,720_|
|---|---|---|
||||
## **14. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income for the year (as per Statement of Financial Activities)
**Adjustment for:**
Depreciation charges
Dividends and interest from investments
Increase in debtors
Increase in creditors
Amortisation charges
**Net cash (used in)/provided by operating activities**|**2020**
**£**
**23,440**
**1,390**
**(6,569)**
**(30,282)**
**370**
**-**
**(11,651)**|_2019_
_£_
_82,441_
_1,390_
_(5,884)_
_(16)_
_100_
_2,215_
_80,246_|
|---|---|---|
Page 17
## **PHILIP WAYRE UPLAND TRUST**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **15. Analysis of cash and cash equivalents**
|**Analysis of cash and cash equivalents**|||
|---|---|---|
|Cash at bank
Total|**2020**
**£**
**58,378**
**58,378**|_2019_
_£_
_127,654_|
|||_127,654_|
Page 18