2022-12-31-accounts - The Walnut Tree Trust

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THE WALNUT TREE TRUST

Registered Charity No 1182220

Annual Report – 2022

This Annual Report details the work of the charity trustees of The Walnut Tree Trust (first formed 1932), and now a charitable incorporated organization entered onto the Register of Charities on 25[th] February 2019 (the CIO).

This Annual Report related to the accounting period of 01/01/22 to 31/12/22 (the “Accounting Period ”).

Structure

The services of Mrs Sue Worsfold, engaged as a self-employed Clerk, were acquired at the beginning of the year.

During this period there have been resignations from two trustees (Jacqueline Corbett and Jen Williams), both of whom had given many months of outstandingly valuable service which enabled the newly formed CIO to function appropriately and legally as well as stimulating consideration of future vision. One replacement voluntary trustee was appointed in November and the second recruited to start at the beginning of the next year in order to bring the number back to 7 by the beginning of 2023. At the October meeting it was decided that the Trust would function more smoothly by appointing a permanent Chair rather than rotating this office each meeting. Trustees are at the end of 2022 were as follows:

Chair: Jill Aisher

John Dinnis

Jonathan Histed

Graham Peck Appointed November 2022

Lesley Spence

Peter Triggs

As time progressed, Trustees have become more experienced and informed in order to establish and apply the protocols that were identified in last year’s report.

Objectives: Trustees were concerned that the wording of the Charity’s objectives when registering under the new CIO legal regime with the Charities Commission differed from that of the original trust set up in 1932 and therefore whether any changes had to be made in order to revert to the original scope. Following extremely helpful dialogue with the Charities Commission, Trustees understood that any change in the Objectives would not affect the purposes of any permanent endowment or designated land that the CIO controls as a trustee. The original Objectives still apply and therefore there was no need to change the wording.

Responsibilities : As the only income stream available to Trustees during this period was from rentals from the three grade II listed cottages while the three outbuildings within the curtilage were unfit for rental because they had been allowed to fall into such a serious state of disrepair that they were

unsafe, impossible to insure and would require considerable sums of money to restore, the Trust urgently needed to increase its income. This could only initially be by increasing the rents obtained from the dwellings. This has been partially achieved by obtaining market rent from one of the small cottages and working towards this goal on the other two properties within the constraints of legal obligations to existing tenants. Trustees also felt that using the services of a letting agent would ensure that tenants’ problems would be dealt with promptly, regular checks and servicing requirements that were the landlord’s responsibility were carried out and any new tenant selected by an agent. Accordingly, an agent was appointed.

Activities : Trustees have tried to communicate with its local public through social and printed media and this has been appreciated. The website has been established and Trustees are always willing to respond to comments or questions posed by our community.

During the year the tenants of the largest property moved out voluntarily and the tenants of one of the smaller properties requested that they be allowed to rent the larger one. This involved the complete refurbishment of both these properties in order to bring them up to the condition required by law and expected by tenants within the year. Considerable sums of money had to be spent on replacing one heating system entirely, repairing or replacing electrical installations as well as some repair to the fabric of the buildings. In addition, there was the anticipated need for re-decoration, carpet replacement and some plumbing repairs and replacements.

Much time and effort has been invested in how and when the timber framed barn can be restored. Attempts made to secure some outside funding for this work proved fruitless and decisions had to be made as to what the restored barn could be used for. Any proposed change of use would have to be approved and would require a scheme to be drawn up. Furthermore, bringing in services required for such purposes: water, sewage and electricity would be extremely costly. Trustees felt that it was necessary to seek advice on how the restoration of just the building could be achieved and proposals drawn up that could be submitted for Listed Building Consent. A chartered surveyor was hired for such advice, and he successfully obtained Listed Building Consent to repair the roof. However, he failed to deal with the structural integrity of the barn and the trustees were not confident of repairing the roof without restoring the building’s structural integrity. It had been hoped that such structural review could be achieved by the end of this year, but it proved impossible.

The Deed of Easement referred to in last year’s report was granted.

Public Benefit: The visual amenity of the cottages within the Conservation Area has been maintained, so has provided this aspect of public benefit which was one of the objects of our original trust deed. Increasing the rent on the cottages and starting to plan the restoration of the outbuildings to a lettable condition has also laid the foundations to fulfil, in time, another Trust object of having excess income from rental profit for charitable purposes in the Parish of Shoreham. The Trust has also worked at keeping residents informed about progress and activities via its own website, social media, at Parish Council meetings and short articles in the printed Parish Gazette

Finances: During the accounting period, the CIO’S expenditure was £46,793.69 and its income was £26,878.24, giving a net income of £-19,915.45

During the accounting period the CIO received £26,299.47 of rental income and £578.17 investment income.

Disbursements during the Accounting Period:

Regular maintenance	£ 815.00
Tenancy related	£1,796.23
Letng Agency	£2,328.78
Clerk’s fees	£4,322.87
Administraton Costs including Investment Revaluaton	£4,655.48
Professional Services	£5,471.78
Repairs and refurbishment	£27,403.55

October 2023

The Walnut Tree Trust Accounts for year ended 31 December 2022 Charity number: 1182220 Independent Examination

The WalnutTro0 Trust At¢ou#t8 forytar•ndeO 31 DewMb8r2022 Stat•rnènt of FithonGial Activltl8s Ilncludlrtg summary of Inome ond gxpndltur•oG¢ourrtl 2D2t INCOME 26.299.¢7 39.86 28.299 47 39.86 53B.91 25.157.61 38.59 Y4.1S COIF Chall1•sO4th Fund- dENidènd %Rwk ao¢vmdSll inteF8St Reb8 forovaiChBry8d lrtsuranGÈ IJIKdl¥noousinco 544.15 53u.gj 44.15 44.15 39J3 38.9 2fyffj8.24 25,240.35 .10 2S.784.50 EXPENL¥1URE T•na¢y r4lat•d SurfwL8itinu$-Fees * PplYM9lrtn9Tr£é ÈDF enèrgy. 9CnI propty INo.331 swntsèksTrIuCt counrJj-CQftrllIaX tsn var¥ leftRI No.31 property vatAt 2.328.76 59.73 1.158.01 578.49 2.328.78 $1.73 578.49 315.00 R•wlprthalDtahanc• Srt Sukphd. rn(T4kng afgw¥fr4rlg 15.00 816.DO 815.00 RepaiVS I AbsoluwyfloOrte55. neyé #t no31 Kpith snher- rep2ifd Sqvwk5 HtatiDy SeNtsgB oniknrP88t Cwtrd AnnthilthJ W¥pgw¥spr•mow so.00 573.OD $40 00 50.00 873. 540.00 600.00 73D.Ots 1.297.20 500.00 780.00 1,297.20 140.00 4,250.00 14.99 &9. 12.882.58 5.30260 2.205.00 12.00 140.00 4,250.00 14.99 6900 12.882.56 5.302.80 2.205.00 12.00 Jer•TnyT8er. PropWrtt8nce DWSH8abn9 smok8 NIrn purchaBd byten Michael Smllh r Ttr14CDnructton SwBhD¥kg BoilerS•Nces MrnPn key Profeislonal sorvices stonè LLP. wotessn8I fè prop8rt¥ |D8vrancft maD&g•ILllXI11Y1Th&Ursc0 porta i$sfDt Born Gropnsp¥e E¢¢logic¥ SduilonBLtd HuyhesTovm Pl1n9 LLP Faiihutst structu¢91 anginBgf Fewrtlorbsm IAemB¢u CTrysi?l LLP •lViCO ie batn 9p1¢#0 laes Danle1 Cowr.PbJieyw4Qd NRLA S•venoaksPApÈ4Ic•luThIfjr anrr TSC CcwallgFftgIDS Sue wfd rywkwaoes 767.28 298.91 70728 298.91 829.90 318B2 829.98 318.82 1,440.00 1.228.80 600.OD 1,440.00 1.228.80 600.00 3.108.00 75.th) 120.00 420.OD 4,322 3.108.00 75.00 120 00 420.00 4,32187 200.00 Oihgr Rentalof chur¢hTW JIU AL%ner JR¢ cOtt 475.00 40.00 100.00 190 00 1SS.00 3,695.39 200.OD 475.QU 100.00 fj55.09 1.006.83 Sufi wor40 In$tei rovlu*on 3,685.39 1.0(6.83 369S39 48 79169 I.QObJ3 3 166A8 -19.915.45 19 1972 462.68 1tt.734.t8 $urOM¥ Inctyn• 16.758.97 Pag81

The WalttutT Trust Aecounts oryear •ttd•d 31 DeGombfyr2022 lancè Sh•gt 2021 Unwostrfctsd RtCtd 2022 3 pr0K*th8-vUQdt Fairvalue 2.600,Q.Qa 2,50D.000.OD 2.eoo.ow.TrJ 2.600.tMIo.uo CurirtAq••ts Bank J4.383.51 Y.383.51 18,888.97 &663272.4e 16.896.55 16.8.55 1S,732.50 15 732.50 16,896.55 2.115.732.50 2.632,520.05 18B88 97 2,618.888.97 34,38151 1.327.98 eoD.00 eoo.00 1.327.98 33.055.53 2,618,888.97 2.051.944.50 N•ta5¥•ts 16 96.5S 2615,73Z.5Q 2,832029.05 Fund¥ofthwCharfty. 2,615,732.50 2.e15.732.50 16.298.55 16.296.55 2.61S,732.50 2,632.029.0 2.81B.888.97 2.616.818.97 33.08S.53 2.$51.944.50 Rgstrded Fund UntArted TOTAL FUNDS 33.055.53 3J,OS .S3 2.618.986.97 sianed 1¢f•TfttheYon..... pagè 2

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independènt Examiner's Report Roportto the t3t81 members of The Walnut Tree Trust har ty noll anv) On accounts for the yea ended 3111212022 1182220 Set out on pages I report to the ttustees on my examination of the a¢counts of the above charity I'the TrusVI for the year ended 31112 12022. Respon$lbllltl8s and basls of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act i. I report in respect of my examination of the TTUSt's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicablè Directions given by the Charity Commission under section 14515llbl of the Act. I have completed my examination. I confirm that no material matters Indgpendent examin05 have come to my attention in connection with the examination (other statement than that disclosed below°} which gives me cause to believe that in, any material respect.. the accounting records were not kept in accordance with S8Ction 130 of the Charities Act." or the accounts did not aGcord wlth the accounting reGord$', or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IA¢counts and Reports) Regulations 2008 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. I have no concerns and have Gome across no other matters in connection with the examination to which attention should be drawn In this report in OTder to enable a proper understanding of the accounts to be reached.

sIgn.[ J Date: Name.. Louise Hallsworth ugust 2023 Rglavant profe88lonal qualrfi¢ation{8) or body11 any): FCA, ICAEW Address: nwood Housè Crofton Road ton Kent BR6 8QE Section B Disclosure Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here briof detsil• of any items that the examiner wishes to dtsclose.

sue.worsfold@hotmail.com From: Sent. To: Cc: Subjert Attachments" Becky Smith Becky.Smith@baxter.co.uk l O August 2023 10'.23 Sue Worsfold Louise Hallsworth Signed accounts Signed accounts.pdf Good morning Sue Thank you for r¢tuming the signed accounts. Plcase now find attached a rtified oopy for you to fil¢ with Charity Commission. Kind r¢gards B¢cky Beckv Smith Administraiion T 01689 877081 E Becky.Srn1th@baxr.¢O.uk W wthw.baxterco.co.uk Chartered Certifi¢d Accoun18nlS iiegistered AuditOTS Lynwood Hous¢ CTofton Rosd Orpinwll K¢ni UK BR6 8QE Tel.. 01689 877981 Fax. 01689 $78420 Web.. $vw.bt¢rco co.uk Rcoi#ereil 8s Auditors in th¢ United Kingdom by th¢ A5g0eiatK)n of CharteredC¢rtili¢d A¢¢ouniants 'L iaufiid bi ij[11% tran%mittid

The Walnut Tree Trust Accounts for year ended 31 December 2022 Charity number: 1182220 Independent Examination