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2022-08-31-accounts

Registration number: 1184534

Wonersh Village Foundation CIO

Annual Report and Financial Statements

for the Year Ended 31[st] August 2022

Independent Examiner’s Report to the Trustees of Wonersh Village Foundation CIO (Charity Number 1184534) on the accounts for the year ended 31[st] August 2022 set out on pages 2 to 8

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matters have come to my attention which gives me cause to believe that in, any material respect:

· the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 and the Charities SORP (FRS102) 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 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.

Paul Enticknap ATT The Old Store, The Street, Wonersh, Guildford, Surrey GU5 0PF.

7th December 2022

Page 1

Wonersh Village Foundation CIO

Trustees' Report for the Year Ended 31[st] August 2022

The Trustees present their report and the financial statements for the year ended 31[st] August 2022.

Reference and Administrative Details

Registered Charity name Charity Registration number

Principal address

Wonersh Village Foundation CIO 1184534 Sparkes Place, Wonersh, Surrey GU5 0PH

Trustees of the Charity

Dr S Worthington Ms C J Howard Mr G J Healy Mr R Taylor Mr G K Gatley

The Trustees are subject to reappointment at the AGM.

Risk Management

The Trustees acknowledge their responsibility to mitigate the major risks to which the Charity is exposed. These risks are considered regularly at the Trustee meetings, held at least twice a period, and as far as possible appropriate mitigating action is taken.

Objectives and Activities

The main objective of the Charity is to make charitable grants for the general benefit of the inhabitants of the civil parish of Wonersh, Surrey, and such other inhabitants of the adjoining civil parishes as the Trustees shall think fit. These grants are funded primarily from rental profits from the Shop Flat held directly by the Charity and from donations from Wonersh Village Stores Limited, a company owned by the charity.

The Trustees are aware of the Public Benefit provisions of the Charities Act, and of the guidance on them published by the Charity Commission. They are satisfied that the objects and activities of the Charity are within the definition of Charitable Purposes, as set down by the Act. The Trustees are not aware of any public detriment caused by the Charity’s objects or activities.

Structure, Governance and Management

The Charity has a formal Constitution document and is structured as a Charitable Incorporated Organisation (CIO). Its only voting members are its trustees. There must be at least three trustees, but no more than six. Every appointment must be by a resolution passed at a properly convened meeting of the trustees. In selecting individuals for appointment, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

Page 2

Wonersh Village Foundation CIO

Trustees' Report for the Year Ended 31[st] August 2022 continued

Achievements and Performance

The Charity has supported a number of initiatives, including two environmental groups in local villages as well as infrastructure repairs to community assets.

Financial Review

As at 31[st] August 2022, the level of income funds available was £95,027, of which £88,955 is unrestricted, and the balance of £6,072 restricted. This will be used, together with future income, to support the Charity’s objectives.

Approved by the Board on 7th December 2022 and signed on its behalf by:

G Healy

Trustee

Page 3

Wonersh Village Foundation CIO

Statement of Financial Activities for the Year Ended 31st August 2022

Note
Income from:
3
Total funds brought forward
Reconciliation of funds:
Net movement in funds
Total
Subscriptions
Cash donations
Charitable grants
Rental property
Expenditure on:
Total
Rental income
Total funds carried forward		 £
15,751
9,718		 £
£
£

28,637

11,400
25,469
40,037

2,537

3,540

80
(14,688)
(6,157)
10,781
33,880
334,246
300,366
345,027
334,246
3,632
11,016
40

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 4

Wonersh Village Foundation CIO

(Registration number: 1184534)

Balance Sheet as at 31st August 2022

Note
Fixed assets:
Investments
4
Current assets:
Debtors and prepayments
Cash at bank
Liabilities:
Total net assets
The funds of the Charity:
Capital funds
Restricted income funds
Unrestricted funds
Total funds carried forward		 £
137
94,890		 £
£
250,000

357

83,889

84,246

0
95,027
345,027
250,000
6,072
88,955
345,027		 £
250,000




84,246
95,027
0
334,246
250,000
13,017
71,229
334,246

These financial statements were approved by the Trustees and authorised for issue on November 2022 and are signed on their behalf by:

Graham Healy

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 5

Wonersh Village Foundation CIO

Notes to the Financial Statements for the Year Ended 31st August 2022

1 CIO information

The Charity was registered as a charitable incorporated organisation on 23[rd] July 2019 and is governed by a constitution dated on that day and registered with the Charity Commission under charity number 1184534.

The Charity’s principal office address is:

Sparkes Place Wonersh Common Wonersh Surrey GU5 0PH England

2 Accounting policies

Summary of significant accounting policies and key estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the ‘Charities SORP (FRS102)’.

Basis of preparation

These financial statements have been prepared using the historical cost convention except where disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the time of approving these financial statements the Trustees are not aware of any material uncertainties about the Charity’s ability to continue as a going concern.

Income

Income is recognised in full in the Statement of Financial Activities (SoFA) in the year in which it is receivable.

Gifts in kind are recognised in the SoFA as income at the fair value of the goods, services or assets gifted at the date of the gift.

Rental income is recognised when it becomes receivable and there is no evidence to suggest that it will not be received.

Expenditure

Expenditure (excluding grants) is included in the SoFA on an accruals basis. Charitable expenditure includes support expenditure associated with the administration and issuing of grants.

Page 6

Wonersh Village Foundation CIO

Notes to the Financial Statements for the Year Ended 31st August 2022

Grants

Grants payable are commitments (including payments) made to third parties in the furtherance of the charitable objectives of the charity. Single or multi-year grants are accounted for as grants payable when either the recipient has a reasonable expectation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the Charity’s control.

Investment property

Investment property is carried at fair value with any gains or losses being recognised in the SoFA.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants in respect of rents and other charges receivable in the ordinary course of business. They are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are measured at the transaction price. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is such a right, they are presented as non-current liabilities.

Financial instruments

Classification

The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

3 Grants

3 Grants
Improvements to environmental infrastructure
Small grants for other charitable institutions
Improvements to arts and cultural facilities		 Grants to
institutions
individual
s
Support
costs
Total
3,000
0
0
3,000
7,956
0
0
7,956
60
0
0
60
11,016
0
0
11,016

Page 7

Wonersh Village Foundation CIO

Notes to the Financial Statements for the Year Ended 31st August 2022

4 Investments

The investment represents the long leasehold interest in a flat over the village shop which was donated to the Charity in January 2020 at its then fair value of £250,000. In the opinion of the Trustees the fair value at the balance sheet date is not materially different.

There has been no formal valuation of the investment property by an independent valuer.

5 Related party transactions

There were no transactions with related parties in the year.

Page 8