NARBERTH OLD SCHOOL TRUST CIO
Registered Charity Number 1194808
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2007 to 2023
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NARBERTH OLD SCHOOL TRUST CIO Annual Report and Financial Statements for the period 1st May 2021 to 30th April 2022
Narberth Old School Trust CIO
Annual Report and Financial Statements for the period 1[st] May 2021 to 31st April 2022
| Contents | Page |
|---|---|
| Trustees' report | 3 -7 |
| Statement of financial activities | 8-9 |
| Examiner's report | 9 |
| Notes to the accounts | 10 |
Prepared by Cllr. Mrs. S. Rees and Mr. A. Williams (Independent financial adviser)
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Narberth Old School Trust CIO
TRUSTEES REPORT
The Trustees present their report with the financial statements of the charity for the year end 31[st] April 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in March 2005.
Charity number 1194808 Registered in England and Wales
Registered office address
Narberth Old School Trust CIO Bwthyn Pioden, Jesse Road Narberth Pembrokeshire SA67 7DP
Trustees
Susan Mary Rees (Chair) Charles Lewellyn Salmon Andrew John Rees Jay–Dee Jeffries
Governing document
Registered as a Charitable Incorporated Organisation (CIO) on 16[th] June 2021
Bankers
Barclays Bank UK PLC LEICESTER LE87 2BB
Independent Examiner
Andrew Williams 19 Queens Court Narberth Pembrokeshire SA67 7AN
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Narberth Old School Trust CIO
Structure, Governance and Management
Narberth Old School Trust CIO (NOST) was registered as a Charity on 16[th] June 2021 and is governed according to its constitution as a Charitable Incorporated Organisation by the trustees. It has four trustees who meet as necessary, to set policies, determine strategy, make all the management decisions and review the operations to ensure they meet the aims and objectives of the Charity. All trustees are volunteers and the founder trustees were appointed for an unlimited time period. Natural turnover of trustees will occur from time to time and a review will be carried out as required. New members will be recruited at need.
The General Committee is called the Friends of Narberth Old School, and comprises of the trustees, representatives of other community groups and anyone who has an interest in Community and wishes to contribute. The General Committee raise funds, recruit volunteers and host events in support of NOST CIO; they meet at need.
Public benefit statement
The charity advances its objects for public benefit by continuing to monitor the advancing plans agreed, to ensure that the community element of the project is met in full, for the community and any members of the general public who want to use it, and to safeguard and protect the Victorian building into the future for the benefit of all.
Risk management
Any staff and volunteers required to work for NOST CIO will be fully trained for the positions they hold and appropriate policies and procedures will be set in place. It is the policy of NOST CIO to proactively identify, understand and manage any risks inherent in our services and associated plans and strategies, now and in the future.
Objectives and Activities
Objectives: The NOST CIO are continuing to maintain and advance its objects for public benefit and to safeguard and protect the Victorian building into the future, for the benefit of the all. We continue to closely monitor the advancing plans, and ensuring the community element of the project is met in full as agreed, for the community and any members of the general public who want to use it as a venue for a new library and a hub for the community. Nothing in the constitution shall authorise an application of the property of the CIO, for the purposes which are not charitable.
Activities: We have completed our first objective of saving the Old Victorian building at the top of Narberth High Street, as an icon of the town. It has now been totally restored to it’s original glory and stands as a wonderful example of why these old buildings, that mean so much to their communities, should be kept and restored, not demolished for a supermarket!
History
When Narberth Community Primary School moved to a new site in July 2007, the Friends of Narberth Old School (FoNOS) was formed, to lobby Pembrokeshire County Council (PCC),
Narberth Old School Trust CIO
and find a way to save the iconic Victorian building, at the head of our High Street, which had been Narberth School. since 1872. FoNOS wanted to restore the iconic Victorian building at all costs, save it for the use of the community, the betterment of the town, and for future generations to enjoy. Reports and plans were made but all were rejected without discussion by PCC.
The old buildings were just left to become derelict over the next ten years. After several failed attempts to sell the plot for a supermarket; on 9[th] January 2017, the County Council (PCC) announced that they intended to demolish the entire site before the 31[st] March 2017, and turn it into a temporary car park until a viable alternative plan could be found. This was disappointing to say the least, as the community had always stated quite clearly, since the closure in 2007, that they wanted the Victorian part of the school saved, restored and put to good use.
This decision instigated FoNOS producing a petition against the demolition of the Victorian building; with more than 3500 signatures, which was presented to PCC, with an Expression of Interest from FoNOS; many influential people, added their letters of support, including The Commissioner for Future Generations and Narberth Town Council. An independent Bat Survey was also carried out, and as a result, PCC were unable to start the demolition, as FoNOS were able to prove that there were bats present in the building, and it was announced that a full Bat Survey would need to be carried out, prior to any further action being taken.
After ten years PCC agreed to talk to the community on 26[th] July 2017, to consider their current proposal and view a presentation. Eventually, PCC agreed to the community plan, but there was a protracted delay, due to the many obstacles that had to be overcome, before work was allowed to start on 21[st] February 2021, with the demolition of the 1960s extension. Narberth Old School Trust (NOST), as a not for profit charity, was granted CIO status on 16th June 2021, to take the plans forward.
Achievements and Performance
Since the outbreak of the COVID-19 pandemic, the community plans have had to be adapted to meet the resulting changes in need for the country, the county, the surrounding community and the town, whilst still meeting the best outcomes for all. This required all stakeholders to regroup and compromise. It was decided, after consultation with all stakeholders, that the best outcome in the present financial climate, would be for the old Victorian building to be restored first and used for commercial purposes; this could be completed whilst the legal wrangling continued and the community element of the project would be housed in the new building.
The iconic Victorian building has now been totally restored and it opened on 15th December 2021, as a Food Hwb. It has proved to be a great success and an asset to Narberth High Street, drawing many more people into the town.
The community element has been designed, as a part of the new buildings, and occupies a prime site on the corner of the new development, overlooking the Towns Moor and car park. It is a brand new, purpose built building, which was started in August 2021 and will shortly be
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Narberth Old School Trust CIO
ready to be handed over to the community, at ‘shell and core’. The building will be completed to become a community hub, to incorporate Narberth Community Library, a display area for the Narberth Museum and a Clerk’s office for Narberth Town Council, who will be holding their meetings there and paying an annual donation. It will not encroach on any other facilities already provided in the town but small community groups will be able to use it to meet if they wish. Funds are in the process of being accessed, via appropriate grants and funding, as well as fundraising and donations from the community, to take the building from ‘shell and core’, to make it fit for multi purposes and maintain it into the future.
Future Plans
To raise as much as possible through grants, funding and donations, to make the building fit for multi purposes, maintain it into the future for the benefit of all, and to get it open to the public by the middle of 2024.
NOST CIO are continuing to maintain and advance its objects for public benefit and to safeguard and protect the Victorian building into the future, for the benefit of the all. We continue to closely monitor the advancing plans, ensuring the community element of the project is met in full, as agreed, for the community and any members of the general public who want to use it, as a venue for a new library and a hub for the community.
Financial review and reserves policy
The total income for the period is £1050.00 from donations
Total hours to date have been given on a volunteer basis, and any materials necessary have been donated; therefore there has been no expenditure incurred for the period.
The income represents donations over the period ended 30th April 2022. Taking into account the reserve of £335.00 for any unexpected payments, this leaves £1385.00 in the charity's unrestricted funds at 30[th] April 2022 and this constitutes the reserves of the charity.
It is the Board’s intention to continue developing a Risk Register and Reserves Policy and to build up sufficient reserves and maintain sufficient funds to continue to operate the charity and meet any unforeseen circumstances. The budget and expenditure are agreed in accordance with available resources.
The total income is under the current £500,000 audit threshold in the Charities Act 2011 and the Trustees have therefore agreed that the accounts should be independently examined rather than incurring the additional costs of audit.
Trustees' responsibilities
The Trustees of the charity acknowledge their responsibility to maintain proper accounting records, to prepare Annual Accounts which show a true and fair view of the activities of the charity and to take appropriate measures to protect the assets of the charity from major loss.
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Narberth Old School Trust CIO
This Report is made under the Charities Act 2011 in accordance with the requirements of the Charities (Accounts and Reports) Regulations 2008.
Approval
This report was approved by the Trustees on 20[th] January 2023 and is signed on their behalf by:
Signed:
S. M. Rees, Chair of Narberth Old School Trust
Date: 4[th] January 2023
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Narberth Old School Trust CIO
| Charity Name | Charity Name | Charity Name | Charity Name | Charity Name | No (if any) | No (if any) | CC16a | ||
|---|---|---|---|---|---|---|---|---|---|
| NARBERTH OLD SCHOOL TRUST CIO |
1194808 |
||||||||
| Receipts andpayments accounts | |||||||||
| For the period from |
Period start date | To | Period end date | ||||||
| 01-May-21 | 30-Apr-22 | ||||||||
| Section A Receipts and payments | |||||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | |||||
| to the nearest £ |
to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||
| A1 Receipts | |||||||||
| Donations | 1,050 | - | - | 1,050 | 325 | ||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| Sub total(Gross income for AR) |
1,050 | - | - | 1,050 | 325 | ||||
| A2 Asset and investment sales, (see table). |
|||||||||
| Bank Balance 30.04.21 | 325 | - | - | 325 | |||||
| - | - | - | - | - | |||||
| Sub total | 325 | - | - | 325 | NIL | ||||
| **Total receipts ** | 1,375 | - | - | 1,375 | NIL | ||||
| A3 Payments | |||||||||
| NONE | - | - | - | - | - | ||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| - | - | - | - | - | |||||
| Sub total | NIL | - | - | NIL | NIL | ||||
| A4 Asset and investment purchases, (see table) |
|||||||||
| NONE | - | - | - | - | |||||
| - | - | - | - | ||||||
| **Sub total ** | - | - | - | - | - | ||||
| Totalpayments | NIL | - | - | NIL | NIL | ||||
| Net of receipts/(payments) | NIL | - | - | NIL | NIL | ||||
| A5 Transfers between funds | - | - | - | - | - | ||||
| A6 Cash funds lastyear end | - | - | - | - | - | ||||
| Cash funds thisyear end | NIL | - | - | NIL | NIL | ||||
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Narberth Old School Trust CIO
| Section B Statement of assets and liabilities | Section B Statement of assets and liabilities | Section B Statement of assets and liabilities | Section B Statement of assets and liabilities | Section B Statement of assets and liabilities | at the end of the period | at the end of the period | at the end of the period | at the end of the period | at the end of the period |
|---|---|---|---|---|---|---|---|---|---|
| Categories | Details | Unrestricted funds |
Restricted funds |
Endowment funds |
|||||
| to nearest £ | to nearest £ | to nearest £ | |||||||
| B1 Cash funds | Donations in bank | 1,375 | - | - | |||||
| - | - | - | |||||||
| - | - | - | |||||||
| Total cash funds | 1,375 | NIL | NIL | ||||||
| (agree balances with receipts and payments account(s)) |
1385 | #VALUE! | |||||||
| Unrestricted funds |
Restricted funds |
Endowment funds |
|||||||
| Details | to nearest £ | to nearest £ | to nearest £ | ||||||
| B2 Other monetary assets | NONE | - | - | - | |||||
| - | - | - | |||||||
| - | - | - | |||||||
| - | - | - | |||||||
| - | - | - | |||||||
| - | - | - | |||||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||||
| B3 Investment assets | NONE | - | - | ||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| Details | Fund to which asset belongs |
Cost (optional) | Current value (optional) |
||||||
| B4 Assets retained for the charity’s own use |
NONE | - | - | ||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| - | - | ||||||||
| Details | Fund to which liability relates |
Amount due (optional) |
When due (optional) |
||||||
| B5 Liabilities | NONE | - | |||||||
| - | |||||||||
| - | |||||||||
| - | |||||||||
| - | |||||||||
| Signed by one or two trustees on behalf of all the trustees |
Signature | Print Name | Date of approval |
||||||
| Mrs.Susan MaryRees | 04.01.2023 | ||||||||
Narberth Old School Trust CIO CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independtrnt Examiner's Report Report to th• trustwsl . Morn[$ of NARBERTH OLD SCHOOL TRUST CIO On acmunts lorthg year ènd•d 30th Apn'l 2022 Charlty no Ilf any) 1194808 S•t tyjt on pag 8-9 I report to the tnjstees on my •xaminati¢Jn of the accounts of the above tharity Trust'l for the year ended ) i MM I R•wnslbl1l and A8 the charity tru8t88s of the Trust, you are respOnsie for the preParatn basis of r•port of the accounts in accordan with the requirements of th8 Charities Act 2011 lllhe Act'l. I report in respect of my examination of the Trust's a¢count$ earried out under SeOn 145 of th8 2011 Act and in carrying out rny èxamlnatlon, I have foll¢)wed the applirable Directions given by the Charity Commlssion under sec"on 14515llbl of the Act. I have completed my exarnination. I confirm that no material matters have come to my attention lotherthan that disclosed below'l in connection with the examination whith gwes rne cause to believe that in, any rnaten'al Indopond•nt •xamin•rf8 $tst•m•nt accounting records were not kapt in gccordan¢e with ¥ection 130 of the Act or th• accounts do not ar£ord vAth the accounting re¢ordB I have no nCernS and have come across no gther rnatters in connec*on th the examination to which attention should drawn in orderto enab proper understsnding of the accounts to be reached. . Pl888e delele th8 words in the brackels rflhey tlo Rot appty. 8lgnod: 13 Namo.. Rolgvant prof•8$lonal quallficatlonlsl or body Ilf any): I q rtskes IER O¢tobor 2018 io
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