WYE HERITAGE CIO
TRUSTEES REPORT
FOR THE YEAR ENDED 30[TH] APRIL 2023
Wye Heritage CIO
Registered Charity No. 1193580
| Page | |
|---|---|
| Charity information | 1 |
| Trustees’ report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Trustees report (cont’d) | 5 |
| Notes to the financial statements | 6 |
Wye Heritage CIO
CHARITY INFORMATION AS AT 30 APRIL 2023
Operating as a Charity registered with the Charity Commission No. 1193580
Trustees Karen Mitcalfe (Chair) Lucy Huntington Francis Huntington Maureen De Saxe John Walters Tom Hill Mike Wain Michael Payne Hon. Secretary Francis Huntington Hon. Treasurer Lucy Huntington Principal office Cumberland Court 24 Church Street Wye Ashford Kent TN25 5BJ Bankers Lloyds Bank Plc 81 High Street Ashford Kent TN24 8SS
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Wye Heritage CIO
TRUSTEES REPORT AS AT 30 APRIL 2023
The trustees present their report along with the financial statements of the charity for the period 25[th] July 2022 to 30[th] April 2023. The financial statements have been prepared on a receipts and payments basis.
Structure, governance and management
The charity became registered as a Charitable Incorporated Organisation (CIO) with the Charity Commission on 17[th] February 2021.
The funds of Wye Heritage are derived substantially from membership subscriptions, donations from the general public and grant giving bodies.
The Objects of the Charity are:
To advance education for the public benefit in the history and heritage of the Village of Wye and the former Wye College by the establishment and maintenance of a museum and by other means as the charity trustees shall think fit.
Trustee body
The Trustees who served during the year were as follows:
Karen Mitcalfe (Chair) Lucy Huntington Francis Huntington Maureen De Saxe John Walters Tom Hill Mike Wain Michael Payne
The trustees aim to meet twice per year at which meetings the trustees agree the broad strategy and areas of activity for the charity. Extra meetings of the trustees are called for any extraordinary expenditure or urgent decisions.
An Annual General Meeting is held once per year, at which all members are invited to attend in order to receive the Trustees annual report and to appoint the Trustees.
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Wye Heritage CIO
STATEMENT OF FINANCIAL ACTIVITY FOR THE YEAR ENDING 30 APRIL 2023
| y/e 30/04/2023 | ||
|---|---|---|
| Income | £ | |
| Subscription | 120.00 | |
| Corporate subscription | 25.00 | |
| Donations – Capital Fund |
1,164.98 | - |
| Grants | - | |
| Sales of merchandise |
944.85 | |
| Donations – running costs | 332.75 | |
| Event Income | _ | |
| Room Hire | 185.00 | |
| Miscellaneous |
- | |
Total income |
2,772.58 | |
| Expenditure | ||
| Centre service charge | - | |
| Database administration fee | 377.80 | |
| Print, postage and stationary | 219.61 | |
| Telephone and web | 283.62 | |
| Insurance | 423.53 | |
| Subscriptions to other organisations | _ | |
| Event costs – coffee/tea/cakes | 151.84 | |
| Repairs and renewals | 95.99 | |
| Transport | - | |
| Cleaning | _ | |
| Equipment purchase | - | |
| Heating – bottle gas | - | |
| Stock purchase |
659.45 | |
| Professional fees | - | |
| Miscellaneous | 12.00 | |
| Total expenditure |
2,223.84 | |
| Surplus/(Deficit) of Income over Expenses. | 548.74 |
Signed: Karen Mitcalfe. Chair of Trustees
Lucy Huntington. Treasurer Date
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Wye Heritage CIO
____________ BALANCE SHEET
FOR THE YEAR ENDING 30 APRIL 2023
| y/e 30/04/2023 | |
|---|---|
| £ | |
| Opening balance at Lloyd Bank | 20,931.55 |
| Income for year | 2,772.58 |
| Expenditure for year |
(2,223.84) |
| Surplus / (Deficit) for year | 548.74 |
| Closing balance at Lloyds Bank | 21,480.29 |
Note: The accounting period ran from 25[th] July 2022 – 30[th] April 2023. On the 25[th] July 2022 the trading activity of Wye Heritage was transferred from the Wye Heritage Association to Wye Heritage CIO, at which point a new bank account was opened in the name of Wye Heritage and the cash balance held by the Association was transferred in its entirety to Wye Heritage CIO.
Signed: Karen Mitcalfe Chair Lucy Huntington Treasurer Date:
TRUSTEES REPORT (continued) AS AT 30 APRIL 2023
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Wye Heritage CIO
Application of income
The trustees shall first defray out of the income of the charity all proper costs, charges and expenses of, and incidental to, the administration and management of the charity. Subject to the payments aforesaid, the trustees shall apply the excess income of the charity in furthering the objects of the charity.
Objects and activities of the charity for the public benefit.
To advance education for the public benefit in the history and heritage of the Village of Wye and the former Wye College by the establishment and maintenance of a museum and by other means as the charity trustees shall think fit.
In accordance with the stated charity objects, the activities are currently:
-
Running the current Wye Heritage Centre and its move to the new Wye Heritage Centre, during 2024/2025.
-
Opening the Centre to the general public on Friday afternoons and the first and third Saturday mornings in the month.
-
Mounting displays on topics of local interest, drawn from our archives
-
Collecting and cataloguing the documents, photographs and artefacts gifted to the charity
-
Making the content of the archives available to the general public
-
Fundraising via donations and merchandise sales, in support of the work of the charity.
-
Recruiting and training volunteers
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning future activities.
Investment policy and performance
The funds of the charity are all currently held in a current account with Lloyds TSB. At such times as funds have risen to a level where they exceed the day to day running costs of the charity they will be invested in accordance with the Trustee Act 2000.
As at 30[th] April 2023 the total net assets of the charity were £21,480.29
Reserves policy
The charity aims to maintain reserves sufficient to cover the costs of running the Centre for the next twelve months.
Achievements and performance
During the year ending 30[th] April 2023, the charity was able to open regularly on Friday afternoons and the first and third Saturday mornings in the month. Displays were mounted on a number of topics of local interest. The plans to catalogue all documents and photographs are now well advanced and during 2024 will be transferred into filing cabinets, in preparation for the move to the new Centre during 2024/2025. Sales of books and booklets about the village of Wye have been sustained and the range of merchandise is to be expanded during 2023 and 2024.
Approved by the Trustees and signed on behalf of the trustees
............................. Karen Mitcalfe - Chair of Trustees
Date: ………………………… 2024
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Wye Heritage CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
1. Accounting policies
1.1 Basis of preparation
The accounts have been prepared on a receipts and payments basis
1.2 Fund accounting
- The funds held by the charity are available at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for any other purpose.
1.3 Income
- All incoming resources are included in the statement of account and the amount can be quantified with reasonable accuracy.
1.4 Expenditure
Expenses are provided on an actual expenditure basis. Expenditure includes VAT, which cannot be recovered and is therefore reported as part of the expenditure to which it relates.
1.5 Gifted assets
Gifted assets are included at valuation if material.
1.6 Investments
In this year the charity did not hold any investments
2. Trustees’ emoluments
No trustees received any remuneration. Travel expenses were reimbursed during the year.
None of the trustees or other persons related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
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