2024-03-31-accounts

UPPE* OALf5 C?MtrAbNIIY.' ANJ 114151 Upper Dales Community Land Trust Report and Financial Statements For the Year Ended 31 March 2024 Chanty number 1195077

Upper Dales Community Land Trust Financial Statements For the Year Ended 31 March 2024 Contents Page Administrative Information Report of the Trustee Board Statement of Financial Activities Balance Sheet Notes forming part of the financial statements

Upper Dales Community Land Trust Report of the Board of Trustees for the year ended 31 March 2024 The Board of Trustees presents its report and audited financial statements for the year ended 31 March 2024. Administrative Information Charity Name: Upper Dales Communty Land Trust Charity registration number: 1195077 Registered Office and operational address: Hudson House. Anvil Square, Reeth, Richmond, North Yorkshire DL116TB Board of Trustees (referred to in this report as the 'Board') Chair: Stephen Stubbs Finance: William Fawcett Secretsry.. Julie Fox County Councillor Yvonne Peacock Jason Sharpe (resigned 24th March 2024) Auditors: Momentum Taxation and Accountancy Ltd, 14 Harelands Courtyard, Melsonby, Richmond, North Yorkshire, DL10 5NY Bankers: Unity Trust Bank, PO Box 7193, Planetsry Road, Willenhall WV19DG Solicitors.. Richard Nixon, Partner. Mud(le LLP, Time Central, 32 Gallowgate, Newcastle Upon Tyne NE14BF

Our Aims and Objectives Our charity's pU￿oseS as set out in the Constitution dated 27th June 2022 are.. The objeGts of the Twst a￿ within the Upper Dales of North Yorkshire, for the public benefit, to provide housing and any associated amenities forpersons in ne￿8$if0uS c1￿umStanCeS upon tenns appmpriate to their means. Mission The Upper Dales Community Land Trust (UDCLT) recognises there is a critical shortage of affordable, sustainable housing for people born, living or wor*ing in the Upper Dales. We want to change this. ensuring our unique community, its history and legacy. lives on. The focus of our work Our main objective for the year to 31st March 2024 was to progress the conversion Bainbridge Methodist Chapel into two affordable apartments. The work with North Star Housing Group has grown over the year and we have established a very positive relationship with them. The developing lease was signed so that whilst UDCLT owns the building, North Star are undertaking the building work and will manage the properties On￿ completed. The preferred builder pulled out within a month of the agreed start date in October 2023 so we worked very hard to secure a new fimi. They cornmen￿d on site in January 2024 and have been excellent. A project manager was appointed, and monthly project meetings have involved ourselves. Media and publicity We continue to raise awareness of our goals and a communty meeting was held in October near the chapel to answer locals, questions and demonstrate that the builders would be considerate to their issues. More generally, we participated in the Reeth Agricullural Show in August with a stall. This was very successful and elicited a lot of interest from local people. Our website and social media is being ably and regularly updated by a skilled volunteer. The Prime Minister visited the chapel prior to work starting and has promised to return once completed. (The chapel is in his constituency). Following one of the media articles a member of the public invited us to see his holiday flat in a local village and is offering this as a gift to the Trust on or prior to, his death. This is a very generous offer and the associated legal issues are being explored at the moment. We have also made contact with the Yorkshire Dales National Park Authority and the local Rural Housing Enabler and Housing Manager to seek their help and advice. Once the North Yorkshire Council was established in April 2024, we hope to have regular contact with them as well. A number of future sites have b￿n identified and we are undertaking some worf( on Ihese in parallel to the development of Bainbridge Chapel.

Improving our efficiency and skills Intemally we continue to work on increasing our skills level and a list of policies is being developed. We will wrf(e these over the nexi few months and take them to the Board for approval and implementation. How our activities deliver public benefit We look to help provide homes for those who cannot afford to buy or rent a home commercially in the Upper Dales, a rural area in North Yorkshire. We are still considering how we might undertake a housing needs survey in the local Parishes in Swaledale as there are a couple of possible future build options emerging in that area. We have discussed how we might undertake this by considering funding from a local charty and exploring options as to who could do the work. We want to be involved on the ground and so are not rushing into this if the existing statistics and data would be sufficient to support a planning application. Financial Review Principal Funding Sources In addition to our funding from Richmondshire District Council, we re￿iVed an unrestricted grant from the Yorkshire Dales Millennium Fund which will assist us to pay for the huge range of assessments and surveys which are required to be done in preparation for planning pemission applications. Investment Policy The benefrts of utilising two banks are demonstrated in our accounts by the amount of interest we have b*n able to accrue in the interim period. We have retained the day to day account and savings account with the Unty Bank and a savings account with the Charty Bank. Reserves Policy At the moment our organisation is solely run by volunteers vtho pay most incidentals out of their own pocket and so we have not needed a reserves policy. We will review this position regularly. Structure, Governance and Management Governing Document We are governed under our Constitution as a CIO (granted 27th June 2022) which established our objects and powers. Recruitment and Appointment of the Board of Trustees The Board of Trustees consisted of five individuals throughout the year. In March 2024 one of the members give notits as his paid work was becoming too busy for him to devote sufficient time to UDCLT. His business background is a significant loss to the organisation and so we will be S￿kIng a new trustee in the future. We continue to have two regular volunteers who undertake excellent work on Marketing & Communications and the role of Board Advisor. All members of the Board give their time voluntarily and receive no direct benefit from the charity. Declaration of Interests is a regular agenda item with any being recorded.

Skills assessment Trustee Induction and Training Job descriptions for trustees have been completed along with an induction programme and policy awareness for new volunteers. Risk Management We sought legal advi￿ prior to signing the development contract with North Star, and as a result a number of minor amendments were made. Splitting our monies into two banks has reduced our financial risk. We have developed a risk register to consider and mitigate major risks to the organisation and will be developing a number of policies to address these issues as well. Wtth regard to possible sites, a couple have been explored and rejected as a result of the cost of development but also their suitabilty for tenants. Organisational StrUC￿re Related Parties The UDCLT is partnered with North Star Housing Group, based in Stockton on Tees. Responsibilities of the Board Charity law requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming reSoUr￿S and application of resources, including income and expenditure, for the financial year. In preparing those financial statements. the Board should follow best practi￿ and: select suitable accounting policies and then apply them consistently., makejudgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concem basis unless it is not appropriate to assume that the company will continue on that basis. The Board is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Board is also responsible for safeguarding the assets of the charilable company and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Members of the Board of Trustees Members of the Board who are trustees for the purpose of charity law, who served during the year and up to the date of this report are set out at the start of this report. Auditors Momentum Taxation and Accountancy Ltd were appointed as the charitable company's auditors during the year and have expressed their wllingness to continue in that capacity. This report has been prepared in accordance wtth the Statement of Recommended Practi￿.. Accounting and Reporting by Chartties (issued in March 2005) and in

accordance with the special provisions of Part Vll of the Companies Act 1985 relating to small entities. Approved by the Board of Trustees on 27th January 2025 and signed on its behalf by: Stephen Stubbs (Chair and Trustee)

Statement of Financial Activities (including income and expenditure account) Total Fund5 2024 Totsl Fund5 2023 Unrestrlcted Funds Rtstrirtèd Funds Note Income Income from generatèd funds: Voluntsry income.. grants & donations 217,050 378 Interest 5,719 5,719 Total income £9.719 £9.719 £217,428 Expenditure Costs of Trust actvities Governance costs Other Resource5 900 10,789 167 1,178 167 9.611 7,372 Total expenditure £2.245 £9.611 £11,856 £7,372 Net incorning {out8oingl resources before transfers Gross tran5fer5 between funds 7A74 19.6111 12.1371 210,056 io Net movement of furKls in year 7.474 19,6111 12,1371 210.056 Reconclllatlon olfunds Totsl fund brought forward 3.202 329,521 332,723 122,667 Total funds carried forward 17 £10.676 £319.910 £330.586 £332,723 The Statement of financial activities includes all gains and10sses recognised in the year. All income and expendtture derive from continuing activities.

Balance Sheet as at 31st March 2024 Note 2024 2023 Fixed Assets Tangible assets 12 209,990 77.546 Current Assets Cash at bank and in hand 120.596 120,596 255,177 255,177 Liabilities Creditors falling due wtthin one year 15 Net Current Assets 120,596 255,177 Total Assets Less Current Liabilities Creditors falling due after more than one vear 16 Net Assets £330.586 £332,723 The fund5 of the charity Restricted income funds Unrestricted income funds 17 319.910 10.676 329,521 3,202 Total charity funds £330,586 £332,723 In preparing these financial statements= (a) For the year ended 31st March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies,. (b) The members have not required the company to obtain an audtt in accordance with Section 476 of the Companies Act 2006, and (c) The Directors acknowledge their responsibilities for.. (i) ensuring that the company keeps accounting records vthich comply with the act, and

(li) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profrt or loss for the financial year. (iii) These financial statements have b￿n prepared in accordants with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The notes on pages 12 to 18 fom) part of these accounts Signed Name: stephen Stubbs Chairman of Trustees on behalf of the Trust&s Approved by the Trustees on 27th January 2025 io

Notes on the Accounts Accounting policies a) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffertive January 2015) (charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Art 2006. In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required. There were no adjustments on transition to FRS 102. b) Income Voluntary income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when- The donor specifies that the grant or donation must only be used in future accounting periods- or The donor has imposed conditions. which must be met before the charity has unconditional entitlement. Income from the Trust's activities is recognised as earned {as the related goods and services are provided). Investment income is recognised on a receivable basis. Income from charitable artivities includes income received under contract or where entitlement to grant funding 15 Subject to specific performance conditions 15 recognised as earned {as the related goods or services are provided). li

Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. c) Volunteers and donated services and facilities The value of the services provided by volunteers is not incorporated into these financial statements. d) Expenditure Expenditure is recognised when a liabiltty is incurred. Costs of generating funds are those costs incurred in attrarting voluntary income. GMT activities include expenditure associated with the operation of educational programmes and include both the direct costs and support costs relating to this activity. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. e) Tangible Fixed Assets Tangible fixed assets are depreciated on a reducing balance basis over their estirnated useful (economic) lives a5 follows:_ Property 2% Straight Line fj Stock Stock is included at the lower of cost or net realisable value. g) Funds structure The trust has a number of restrirted income funds to account for Situations where a donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose. All other funds are unrestricted income funds. During the accounting period. the following restricted funds were in existence: Bainbridge Chapel Fund,. Amount received towards the cost of conversion of Bainbridge Chapel into two residential units. 12

Legal status of the Trust The Trust is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. Related party transactions The charity ha5 no transactions with any related parties. Income from Trust activities 2024 2023 Voluntary income Totsl Un-Restricted Restricted Donations Grants £4,(W £4.000 Investment income Bank interest received £5,719.2912022: £378.29) 13

Expenditure 2024 2023 Total Total Uttrth¢ted Restricted Costs of generating voluntary income Cost of Trust activities Planning Fees 900 900 Governance costs Publicity Legal & Professional Fees Bank Charges Insurance Hire of H311 Subscriptions Postage & Printing Training Heat and Light Computer Software Property Depreciation 212 3.042 72 2.023 30 525 65 150 212 40 72 593 2,547 99 2,067 3,002 2,023 30 525 65 150 150 117 114 4,556 £10.789 114 4,556 £9,611 1,615 £7.372 £1.178 Other resources expended Publicity Display Boards £167 £167 Analysis of staff costs 2024 2023 Salaries and Wages Pension Costs Staff numbers There are no staff employed. all positions are undertaken voluntary. Particulars of stsff Volunteers have and will continue, to fulfil a crucial role in providing support to underpin many of the activities and objectives of The Upper Dales Community Land Trust. 14

Movement in total funds for the year 2024 2023 This is stated aftef charging: Depreciation £4.556 £1,615 10. Transfer between funds There were no transfers between funds to report. 11. Taxation The company is a registered charity and no provision is considered necessary for taxation. 15

1. Tangible Fixed Assets Property Other Total Cost: As at I" April 2023 Additions Disposals 80,776 137,IXIO 80,776 137,0(X) at 31" March 2024 Depreciation: s at I" April 2023 Charge for the year Disposals 217.776 217,776 3,230 4,556 3,230 4,556 As at 31 March 2024 Net Book Value: 7,786 7,786 As at 31. March 2024 As at 31" March 2023 £209,990 £77,546 £209,990 £77,546
2. Debtors 2Q24 2023 Trade Debtors Other Debtors Prepayments and Accrued Income
3. Creditors: amounts falling due within one year 2024 2023 Creditors Other Creditors and Accruals
4. Creditors: amounts falling due after more than one year No such balances

5. Analysis of charitable funds Restrirted funds are made up of the following balances: 2024 319,910 2023 329,521 Bainbridge Chapel Fund £319,910 £329.521 16

6. Trustees remuneration and expenses Trustees are reimbursed for out-of-pocket expenses incurred on behalf of The Upper Dales Community Land Trust to sustain the efficient operation of the Trust. These expenses are supported by expense claims. invoices, and other associated documents. The gross amounts (thi5 includes 20% VAT where applicable) paid to reimburse Trustees out-of-pocket expenses during the year were: Stephen Stubbs-£Nil William Fawcett- £Nil Julie Fox - £Nil Yvonne Peacock- £Nil Ja50n Sharpe - £Nil Examples of expenses include printer and computer consumable5, Stationery. postage. 17