## **Trustees Annual Report and Financial Statements** 

**Report Period 1[st] April 2022 to 31[st] March 2023** 

R02 



## **Administrative Information** 

**Charity Name:** Knowle Park Trust 

## **Registered Charity No.:** 1176590 

**Principal Charity Address:** Sundial House, 20 High Street, Cranleigh, Surrey, GU6 8AE 

**Bankers:** Metro Bank, One Southampton Row, London, WC1B 5HA 

**Independent Examiner:** Oakwood Business Consultants, Unit 3, The Dairy, Tilehouse Farm Offices, East Shalford Lane, Guildford, Surrey, GU4 8AE 

**Type of Governing Document:** Charitable Incorporated Organisation (CIO) Foundation Constitution 

**Organisations Purposes (‘Objects’):** The objects of the CIO are the provision and maintenance of areas of open space and public parks for the benefit of the local inhabitants of Cranleigh in the county of Surrey and the surrounding areas in the interests of social welfare and with the object of improving the conditions of life for the said inhabitants. The CIO will carry out its purposes by providing and maintaining a new area of parkland and public open space for use by members of the public. 

**Note:** The Knowle Park site comprises 22.80ha (56.34 acres) and is situated south of the built-up area of Cranleigh’s village centre on Knowle Lane. 

**Trustees:** The following have served as trustees during this reporting period: 

|**Chairman:**|Martin Bamford|09.01.2018 to date|
|---|---|---|
|**Interim Hon. Treasurer:**|Jeffrey Wood|09.01.2018 to date|
|**Trustees:**|Lucy Boatswain|09.01.2018 to date|
||Timothy Crowe|09.01.2018 to date|
||Nicolaas Vrijland|09.01.2018 to date|



## **Statement of Trustees’ Responsibilities** 

The trustees are responsible for preparing the Trustees’ Annual Report and the Financial Statements in accordance with applicable law, FRS 102 (Financial Reporting Standards) and SORP 2015 (Statement of Recommended Practice). 

The law applicable to charities in England & Wales requires the trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.  In preparing these Financial Statements, the trustees are required to: 

- a) Select suitable accounting policies and apply them consistently. 

- b) Observe the methods and principles in the current Charities Statement of Recommended Practice (SORP). 

- c) Make judgments and estimates that are reasonable and prudent. 

- d) State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statements. 

- e) Prepare the Financial Statements on an accrual basis. 

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the Financial Statements comply with the Charities Act, Charity Reporting and Accounting Guidance, and the provisions of the trust 



deed.  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 Trust is further responsible for employing staff to undertake key roles pursuant to the administration of the trust and the upkeep of its land and properties.  Remuneration will be calculated and reviewed annually with reference to employee experience/qualifications, inflation/price indices, local comparators, and performance monitored through annual reviews conducted by Trustees. 

**Note:** There were no staff employed by the trust during this reporting period but please note the disclosure relating to property valuations at the end of the Financial Statement. 

## **Trustee Selection Methods** 

Existing Trustees were selected for demonstrating their early support for the project and commitment towards seeing it delivered; they are all local residents and current/retired business owners.   The selection of future trustees will be determined by their suitability to champion one or more of the key aspects noted in ‘Public Benefits’ below. 

## **Public Benefit** 

The CIO will benefit the general public in Cranleigh and the surrounding areas by providing them with an open space for recreation and leisure pursuits.  The space will also be used to host public events, concerts, sport activities and similar events providing further enjoyment and leisure opportunities for the benefit of the general public.  In deciding what events may or may not be hosted at the park the trustees will carefully consider the potential benefit of the event to the general public in the surrounding area and weigh that up against any short term limitation the event may place on access to all or part of the park. 

The trust is committed to protecting this unique landscape and improving its flora, fauna and wildlife habitats. The Trust will carefully balance this with its use as an amenity and recreation resource for Cranleigh and surrounding areas and develop close ties with the community by focusing on six key aspects of local importance - culture, education, heritage, recreation, ecology and wellbeing.  Links will be forged with local societies, groups, institutions and initiatives to ensure that all of the benefits and opportunities that the park can afford are realised. 

## **Funding** 

The trustees propose to establish a non-voting membership associated with the CIO and will seek donations from those members. The details of how that membership will be structured have not been finalised but in seeking donations from members of the public the trustees will have all due regard to the Commission's 'Know Your Donor' guidance. 

Furthermore, The CIO will own three properties on the nearby new housing development.  These are being gifted to the CIO and will be rented out to raise funds to support the CIO. The CIO will also raise funds through the provision of a car park and the hosting of some paid for events at the park. 

## **Future Events** 

General access to the parkland will be available to the public free of charge. The trustees may from time to time decide to host events at the park where an entry fee is charged. In hosting any such events the trustees will carefully consider the impact of the event on access to the parkland.  When setting a ticket price, the trustees will carefully balance the need to raise money from the event in order to fund the maintenance of the park against the need to ensure that the event is affordable to as wide a group of the parkland users as possible. 



## **Reserves policy** 

The Trust will strive to maintain a policy whereby there are six to twelve months of unrestricted funds available to cover situations as they may arise from time to time; these are effectively ‘reserves’.  We firmly believe that as a charity we must have the aim of being in existence in perpetuity; that we should not allow our reserves to fall below the six months expenditure threshold recommended as the normal minimum guideline. 

## **Review of the year** 

Monthly Project Team Meetings continued in Cranleigh Arts attended by key members of the design and delivery team as well as representation from Knowle Park Trust (Martin Bamford and Jeff Wood).  During this reporting period approximately 65% of the construction work was carried out including: 

- Completion of the lake (including the liner) 

- Bridge installations 

- Amphitheatre formation (including slope stabilisation and turfing) 

- Gravel path laying 

- Planting 

- Playground installation 

- Work to the car park (including lighting) 

- Construction of the WC building 

- Drainage sitewide 

The weather proved challenging on site with drought from spring to autumn that culminated in a hose-pipe ban, and a very wet autumn and winter that included severe frosts.  This hampered progress somewhat, especially during times of prolonged rainfall and contributed towards the extension of the contract period. The park will be handed over to the trust upon the Practical Completion (PC) of its construction as set out in documents approved by the Local Planning Authority. PC was originally scheduled for the end of December 2022 but was pushed back month-by-month with it still not having been awarded during this financial year. The Trust now expects handover to be sometime in May 2023. 

The trustees met regularly to ensure progress was in compliance with the vision for the project and to discuss principals of future policy and management. 

It is envisioned that trustee-led teams focusing on the 6 key aspects noted in ‘Public Benefits’ above will be formed prior to Final Completion*[1] of the project in May 2025.  They will meet regularly, reporting back through their appointed trustee at full trustee meetings. 

Knowle Park Trust continued to receive rental income from their properties at 2, 3 and 4 Acer Avenue in Amber Parkside, and the revenue from these properties will provide funds towards the ongoing maintenance and management of the park.  Additional income will be generated from the car park when it opens after practical completion. 

Jeff Wood agreed to become the interim Honorary Treasurer until a suitable replacement can be found.  Jeff has had 8 years of relevant experience in this role (2013-2021) with the Parochial Church Council of St Nicolas, Cranleigh.  Lauren Hopkins was appointed to provide administrative support for the Trust. 

***[1] Note: -** Final Completion occurs at the end of the Defects Liability/Contractor’s Maintenance Period. 



## **Financial Statements** 

Total Income for the year ended 31[st] March 2023: £53,060 Total Expenditure for the year ended 31[st] March 2023: £20,640 

Liquid Assets*[2] at 1[st] April 2022: £2,843 Liquid Assets*[2] at 31[st] March 2023:  £35,263 

***[2] Note: -** Liquid assets include all funds banked in the trust’s bank account.  It also includes creditor and debtor liabilities. 

## **Income** 

Gross rental income amounting to £47,460 accounted for most of the incoming resources. Net rental income after management and renewal fees was £40,015. An additional £5,000 was provided as a grant from Surrey County Council, towards the cost of additional hedge planting. A further £600 was received as a donation from Informed Choice Ltd. A ‘gift’ of £950,000, to reflect the value of the three properties mentioned above, being gifted to the Trust has been included in this year’s accounts. This gift does not reflect any cash received by the Trust but merely the value of the fixed assets. There were debtors amounting to £4,100, paid by Knowle Park Trust for electricity used by the contractor during construction.  This will be reimbursed by A2Dominion in the course of the contractor account resolution after Practical Completion. 

## **Expenditure** 

During this financial period expenditure was as follows: 

|Apartment energy costs prior to rental occupation:|£1,044|
|---|---|
|Apartment service charges and ground rent:|£1,452|
|Setup services from Yu (energy provider) for the park:|£378|
|Secretarial services:|£175|
|Insurance broker fees:|£285|
|Legal and Professional fees:|£1,426*4|
|Accounting software subscription:|£62|
|Defibrillator cabinet:|£702|
|Purchase of additional plants:|£7,671*3|
|Management and Repair costs (rental properties):|£7,445|



*[3] **Note:** – This was payment for additional hedging plants, the cost of which was partially covered with the grant from Surrey County Council noted above under income. 

*4 **Note:** - Includes an accrual of £780 for accountancy fees (Independent examiner). 

## **Fixed Assets and Valuation** 

Valuations for the 3 properties gifted to the trust were prepared at March 2022 market values.  These are summarised as follows: 

Flat 2 (plot 65) Acer Avenue - 2 Bedroom Ground Floor Apartment with garden and parking £320,000. Flat 3 (plot 66) Acer Avenue - 2 Bedroom First Floor Apartment with balcony and parking - £310,000. Flat 4 (plot 67) Acer Avenue - 2 Bedroom Ground Floor Apartment with garden and parking £320,000. 

The total value of fixed assets on 31[st] March 2023 was £950,000.  The next valuation will be conducted in March 2025. As mentioned previously, the value of the properties has been recognised as a ‘gift’ in this year’s income and expenditure account. 



Dlsc105ure: This valuation was carried out by Crowes Estste Agents Ltd, and the Prlncipal of that firm is Tim
Crowe, a Trustee of Knowle Park Trust. Crowes Estste Agents Ltd also serve as the letting agents forthe three
propertie5.
Approved by the Tntstees on 30th August 2023 and slgned on behalf of Knowle Park Trust by:
Martin Bamford (Knowle Park Trust Chalmian)
Date

**KNOWLE PARK TRUST CIO** 

**ACCOUNTS** 

**CHARITY NO: 1176590** 

## **For the Year Ended 31st March 2023** 


Page 1 of 8 



**KNOWLE PARK TRUST CIO** 

## **CONTENTS OF THE FINANCIAL STATEMENTS** 

## **For the Year Ended 31st March 2023** 

||**Page**|
|---|---|
|Contents Page|**2**|
|CIO Information|**3**|
|Profit and Loss Account|**4**|
|Balance Sheet|**5**|
|Asset Breakdown|**6**|
|Creditors and Debtors|**7**|
|Expense Analysis|**8**|



Page 2 of 8 



**KNOWLE PARK TRUST CIO** 

## **COMPANY INFORMATION** 

## **For the Year Ended 31st March 2023** 

|TRUSTEES|Bamford, Martin|
|---|---|
||Wood, Jeffrey|
||Crowe, Timothy|
||Boatswain, Lucy|
||Vrijland, Nicolaas|
|PRINCIPAL ADDRESS|Sundial House|
||20 High Street|
||Cranleigh|
||Surrey|
||GU6 8AE|
|CHARITY NUMBER|1176590|
|INDEPENDENT EXAMINER|Oakwood Business Consultants|
||Unit 3, The Dairy|
||Tilehouse Farm Offices|
||East Shalford Lane|
||Guildford, Surrey|
||GU4 8AE|



Page 3 of 8 



**KNOWLE PARK TRUST CIO** 

## **PROFIT AND LOSS ACCOUNT** 

## **For the Year Ended 31st March 2023** 

||**Notes**|**2023**|**2022**|
|---|---|---|---|
|||**£**|**£**|
|**INCOME**||||
|Rental||47,460|2,843|
|Donations/Gifts||950,600||
|Grants||5,000||
|**Gross Profit**||**1,003,060**|**2,843**|
|Expenses||20,640||
|**Net Profit**||**982,420**|**2,843**|
|Profit Brought Forward||2,843||
|**RETAINED PROFIT CARRIED FORWARD**||**985,263**|**2,843**|



Page 4 of 8 



**KNOWLE PARK TRUST CIO** 

## **BALANCE SHEET** 

## **For the Year Ended 31st March 2023** 

||**2022**<br>**2023**|**2022**<br>**2023**|**2022**<br>**2023**|**2022**<br>**2023**|
|---|---|---|---|---|
|**Notes**|**£**|**£**|**£**|**£**|
|**Fixed Assets**<br>Tangible Assets<br>**Current Assets**|950,000||||
|Debtors<br>Cash at Bank<br>Stock<br>**Current Liabilities**|4,100<br>31,943||2,843||
||36,043||2,843||
|Creditors<br>Loans<br>Accruals<br>Net Current Assets<br>**Capital and Reserves**||780|||
||35,263|780|2,843|0|
|||**985,263**||**2,843**|



Page 5 of 8 



**KNOWLE PARK TRUST CIO** 

## **ASSET BREAKDOWN** 

## **For the Year Ended 31st March 2023** 

|**Tangible Fixed Assets**|**Land & Property**|**Totals**|
|---|---|---|
|Value|||
|At 1.04.22|950,000|**950,000**|
|Additions|||
|Disposals|||
|**Total**|**950,000**|**950,000**|
|Depreciation|||
|Charge for year|||
|**Net Book Value**|||
|**At 31.03.23**|**950,000**|**950,000**|



Page 6 of 8 



**KNOWLE PARK TRUST CIO** 

## **CREDITORS AND DEBTORS** 

## **For the Year Ended 31st March 2023** 

|**Creditors**<br>**Amounts falling within one year**<br>Trade Creditors<br>Loans<br>Accruals and deferred income<br>**Total**<br>**Debtors**<br>**Amounts falling withing one year**<br>Trade Debtors<br>Prepayments<br>**Total**|**2023**|
|---|---|
||**£**<br>780|
||**780**|
||**2023**|
||**£**<br>4,100|
||4,100|



Page 7 of 8 



**KNOWLE PARK TRUST CIO** 

## **EXPENSE ANALYSIS** 

## **For the Year Ended 31st March 2023** 

||**2023**<br>**2022**<br>**£**<br>**£**|
|---|---|
|Energy Costs (Prior to occupation)<br>Service and Ground Rent<br>Secretarial costs<br>Insurance<br>Legal & Professional<br>IT Software<br>Repairs and Renewals (Rental)<br>Park costs<br>Management Fees (Rental)<br>Energy<br>**Total**|1,044<br>1,452<br>175<br>285<br>1,426<br>62<br>1,250<br>8,751<br>6,195<br>-<br>**20,640**<br>**0**|



Page 8 of 8 



CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examinerfs report on the
accounts
Section A
Independent Examinorfs Report
Report to the trusteesl
members of
<noLxJLL Trustr CIO
On accounts for the year
ended
Si losl 20££
Charity no
{rfany)
1176SqQ
S8t out on pages
.,rtinem3ar LQ IiyliJd- Lfj<i P.umbviè Ci a￿￿1￿0￿,-
I report to the trustees on my examination ofthe 2¢counts of the above
charity Ilhe Trusf) for the year ended 31 C)g 2D23
As the charitys twstees, you are ￿sponSible for the preparation of th8
accounts in accordanGe with the requirements of the Charities Act 2011
(Ihe Act.).
Responslbiltips and
basis of report
I report in respect of my examination of the Trusts a(xounts carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed all the applicable Directions given by the Charity Commissic
under section 145(5llbl of the Act.
Independent
examinerfs statement
I have tompleted my examination. I confitm that no material matters have
come to my attention in connection wth the examination (other than that
disclosed below") which gives me cause lo believe that in. any material
respect..
the accounting records were not kept in accotdance with section 130
of the Charities Act-, or
the accounts did not accord with the accounting ￿00rds. or
the attounts did not comply with the applicable requirements
concerning the forrn and content of accounts set out in the Charitses
IAc(x)unts and Reports) Regulations 2008 other than any requirement
that the accounts give a *ruo and fail view which is not a matter
considered as part of an independent examination.
I have no concerns and have come across no other matters in connection
with the examination to whi¢h attention should be drawn in this ￿pOrt in
order to enable a proper understanding of the accounts to be re￿hed.
. Please delete the words in the brackgts ifthey do not apply.
Slgned:
Date:
24IoEI zo23
Name:
EeQ CXSLL ty4a+T
Relevant professional
qualtfication(s} or body
IER
Oct 2018

(if any):
Address:
S, thir
r(ILP￿(j￿ KLfrTh cffi,
uLL£Leor
Section B
Disclosure
Only complete rf the examiner needs to highlight material matters of concem
(S￿ CC32, Independent examination of chartty acwunts= directions and
guidance for examlnersl.
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
Oct 2018