RECISTERED CHAIUTY NUMBER: 1195888 RTOFTH EDF HE FOR D.ILE. & Co. Lamited KingslaTMI Hous¢ 39 Ably Forega Shrewsbury SFrop5hire SY2 6BL
PRESTEIGNE AND NO TY TRusr ONfELYTS OF THE Ai¥CIAL STA FOR THE YEAR ENDED 31 MARCH 2024 Report of th•Trwt¢¢J I to 3 Independent Exmlner's Report SttsoDt Of FID•Hekn] Afdvlt B8¢¢ Sheet Notu to the Flnand Stttets 7 to 12 DetAlkd Stsiettwit trf Fln•Ddl AdlvltS 13
PRESTEIGNE AND NORTON MM RF.PORT OF THE TRUSTtES FOR THE YEAR ENDED The tntst¢es preseth their re wsth the fJnncial 5talcrnL of charity for the ye8r ended 31 March 2024. The ttts have adopted tlLe provisio% of AccouDtiDg ard ReEing by Ch8n"ues". Stst)wii of Rnded Prnctiee applicable Èo charitics preparing their accothlts in ¥cordwe with the Fin#ncia] RqrtIng Sta12rd applicabl¢ in th¢ UK and Republic of I1¥1)d (FRS 102) (efffthive l January 2019). 0ECTIVEs AND AcrivrrtL5 ObJe¢dves alms The prin¢ipal obiertives of the chanty. 8s ststrd in its go is to prottK>te for the benefit of the Énhabitsnt$ of Prest¢1 and Nort( wIttW) diin¢tion of K Sexu orieTrtatsoTL rnce or of )ItcaL religio$ or other opinion5. by a&4ocsatin¥ together the Said inhabitants aNI ILUI autlKJriti4 vo1113ry and oth¢r OWiS•ii¢)ns in a Common cffort to advCe educahon t1 to provide fxib"tie5 in the intuesL8 of SOCI welfar¢ for rt¢Thtion and other leisure occupatiotLq wth the objects of IMPVing ¢omJiuons of lifr of the said inknbitanti. Al to establish or secure th¢ establishment of a Community ceiitye. aThJ ty mdinthitt 8ThJ nwM8e the same (whetlr akJrK rK in ¢oop¢ration with arLy local authority or person or body) JD of th¢9¢ objK Slgnlfient Aedvhks The most st8nifJcant xhieYeTtW in the wthT t¢Vi¢W WA& th¢ aDd s¢¢S$[U1 con]pletion of the project ty adapt the f(ffmer cbwch of St Ardrew in Norton u a¢0Mmlty Hub. The appOind contrxt()r Firth Co41rli0 began wY)rk in March 2023. b&sed on project pl9 ¢Jev¢loped by the project architc¢¢ Trevor HewttL At thii point available major capithl 8rthi fuDding totslljng £120. bad been secured from the National Lottery ('.ommuTrity Fund. the Repreaentstive Body Thurch in Waks, aTr4 the Moondance Foundatson. However, it wvs acknowled8cd that to con¥lete the pmJec( includm8 Provision of Hub fixlwe5 and fiitiDgs, futther grant fiFnth'ng would ne¢d to b¢ 8¢aYed. Subsequently successful gra appliuiions were ttwle the Benwd SuDley FOUDdait the G8rfJ¢ld Wesion Foundation. thc Foyle Fowmlalion. thc COMMity Frffjjndation Wales and tk National LCW con]ty Fund. As a result, a further £53,500 w88 raised in major rn ffiThlin& supported by a £51MI grant from the Prc51ci8ne and Norton Town Council. a r8Dgt o( LNher gmall and th)llatt'o an¢ fillth'sin8 #Cttvitie5 with'n the Norton cotnmunity. Pfyrtly to fo¢ilitat¢ of th¢ dditiotthJ fimdTn& tIK completion of the project was delayed frnm Sepiember 2023 to March 2024. As wcll u capital worL project eomplth'on th¢ filtsD8 ofthe kitchen and ojl equtpmem necessry to enable the building to oper8t¢ as a ¢omnvmity hth, with catrn'ng faciliii4 a PA llcatin8 to 70 pw)le. The Hub Managem1 C4)mmitte& operaiin¥ un&Y delega1 4utt" from the TnJsL coniinued its work of plannin8 aryd irnpknKnlg all the relevant 0FtIonal lIcIeS a&1 [¢¢4 forthr Hub, ID 4ddition to compiling the operating budget. Publle btttefit Th¢ uusitts cortfinn th8t ibey baye complied Thith the duty in sKtioo 4 of the Chariiies Act 2011 to knye thie re8ards to publ1¢ benefit gwdance pllbled by Chan'ty Commissi¢ML VoluDteers Apart from the *VTk of the rontrxkn j profcssioll advi5er& all ssp¢ts of the ad4pkn"(m prDject WO the 5ubseqwLt opeta(son of th¢ Hub ar¢ ethirety dqt on volunteers. In dillon to Tvjujing the hub operations the Managenl Comn)ittee of Hub voh]nteers taken reyoskni tlny for estyblished village events. Inc]lIng the annual Norton Show the Fireworks eVL This enablos bdler we ofiimi¢¢d rE4)urce5 as well as stturing import8nt incom¢ 111 Ir5 of firturc Hub 9Jstsinal>th"ty. Pa8e I
PRFSTEI
NE AND NORTON COMMUNITY TRUST
REPORT OF THE TRUSTEFS
I MARCH 2024
ACHtEVEMENf AND PERFORMANCE
Ckarltable attivltles
To r2ise tb¢ additional hmts requitrd to meet the overall £220.(KXI cog of the project dwitig the periiyj under r¢vi¢w,
the chanty irnplcTrKnted a succes5fiJl fiJrdratsin8 p]aD vkni¢h se¢ur•J £663 through a combination of capitsl gr8ni
awards atMI community fvndraisit)g events atyj activities.
This wo8 In ditIon to £163.0 funding already seqr¢d in the pre09 financth] rn includin8 inittal prO1t
developtnent support from th¢ Ardu'wtura] Heritage Fun
The main outco has been the establishnt of a nwch4eded comnwty rescw¢¢ in a vii]8ge without other public
amenities. and the restoration ond pres¢n•tion oran histwK GTadc 2 IT5d bwldin8.
Fif4ANCJAL REVIEW
Flnattehl position
For the period under review iOme th11ed £194215. EXdIty of £182,074 was incurred dum8 the year, resulting
in net income of £12.141.
The tni8ts fvttds crIed fonwlrd at 31st March 2024 10tsI £35.775.
Prltsdpal fundlDg Murce4
In the review penod £fj3.500 has been sowced from grnnt 8wardingorganisations for capitsl Works. In additt"oN £12,700
ha8 been raised for projcd fixtur and fittings thrwh sma]l¢r granty I41 a¢ts"vities, ind1vidu doniiions.
and a £S.(KIO w from the Pr¢51¢ign¢ aThJ Nor4 Towm CLx111.
Further 1101$1•18 fo¢u8ed on. suNw)rtitsg the oDgoRD8 opuation of the cOty Hub TSi8&1 £12.768 through a
¢ombLll81iOtt of donatiom a1 fi]ndraL'JiD8 events.
These included wirMlin8.UP tranrfer payrnits from th¢ Nonon Sports aTrJ s1•1 Club aThJ the Norton Show Conunittee,
and income frorn the Norton Show And a Trillage OpeD
PRE TE E AI¥D NORTON COM.YI TRUST REPORT OF THE TRUSTEES FOR THE YE ENDED 31 MARCH REFERENCE AND ADMINISTrATIVE DETAItS Regl$tered Charity 1195888 Prlnelpal •ddress 25 Offa5 Gtte Norton Pre5teign¢ Powys LD8 2NX Trustees R L Barnford A J Vanhuis D A Edwards C Kirkby J A Refau59e PJISmith CARuby J E Wildiog (aplted 18.5.23) Independent Examlnff D.R.k. & Co. Lllniled Chartered Accountsnts KL'n8sland Housc 39 Abbey Fore8ate Shr¢wsbury Shrop$hir¢ SY2 6BL Appmved by oNler of the boArd of trle¢sOft 23 Octh 2024 aThl sid on Its behalfby.. J A K¢f¥ussc- Tm]stee
'S REPO
D NoiYfoN CO
TOThE
Ind¢pthdent ftp)rt to the ofPrutsigne #ttd NortOD ColluRutiity Tn
l T¢portto the charity trustets my of the of Pre1 mdNorton CommuThity Trust (th¢ T()
for theyear c 31 March 2024.
R¢ypoMsibllftlts b olrtwrt
reqU
PRESTEIGP4E TON COMM TATEMENT F FINAfCIAL ACTFvrr FO THE EAR ENDED JiJ.24 Total 31.3.23 Total fid$ Nc IP4COMF. AND ENDOWMENTS FROM DonatiOt)s aDd 1¢8acies liJJ4 16&W 189.994 45,917 Other ttgditig aclivili¢q 4321 4321 3,846 194315 49.703 Total 26315 16&WJ EXPENDITURE ON RaiBItL8 funds si• s1(J 727 Charltble Attivlt Other regOUtces ¢xpetthJ 16&174 175 23,996 J136 &736 2.260 12254 169120 182.074 26,983 NET INCC)MTrJ(F.XPENDITURE) TrgMf¢ri behYeeD fndS 13,961 8.902 (lJ20) {&902) 22,780 Net movellDt l fvDd¢ (10.722) 12,141 22,780 RECONCILIATION OF FUNDS To¢al funds brou8hi forwtrd l)13 21.ni 23th34 854 TOTAL FUNDS CARRIED FORWARD 24.T16 i999 35,775 23.634 Tr Th)tes fornip2rt of tl*sc finla1 ststenKDts
PRESTEIC.NE AND N OMMUNI AN IMAR E SHEET 24 31J24 Totsl fndS 31.3.23 Totsl ds urycricd Restricted fiwds FIXED ASSETS Tangiblc assets &723 220 CURRENT ASSETS C&sb at b8nk l?A52 29A51 25.014 CREDrroRS Anwjunts falling due thin one liJ99) (1,0} (2J99) 11.600) NET CURRE ASSETS IV53 11999 27,052 23,414 TOTAL ASSETS LESS CURRENT LIABILITIES M716 1•.999 3S775 23.634 NET A&SETS 24,776 1•,999 35.775 23.634 FUNDS Unrestricted funds R¢¥tri¢ltd fimds 24776 10.999 1,913 21,721 TOTAL FUNDS 3S775 23,634 The financi8l8tatetrts spprovtd by th¢ Board of Trusttes aThl athrised for i8su¢ on 23 October 2024 and wrre Si8ned on ils behalf by.. cf8uss¢- Tne
PRESTEJGNE AND NORTON COMMuNrrY TRusr NOTES TO THE FINAN R THE YEAR EN IAL STATE ARCH 2024 ACCOUNTING POLICIFS of prep•rkng the fiDaDcid s1temtI Thc accounts are PTepoYed on a receipts and paynxnts basis. The finaDcJal ststeDwts Ère forthe indiv1thl eDtityOllty. Prestc1 and Norton COrnmty TTu is i ¢ban"tsble iDCOTFWmted org8niSation (CIO) and its princi1 8ddres$ and re8LStered charity nunther ¢w be withi'n the Report of the Tr%1¢¢$. Incon All income 18 ill th¢ Ststemettt of Fu)al Activitie8 0¢ It¢¢ived Expeadlthre Liabilities ar¢ ex'th¢ 85 &8 they art paid TAngible fixed a5t$ Depreciation is provided th¢ followiD8 amiual raws ID oth to write off u5¢t ovet tts estinmted useful pla and rnxhinery Taxtlon Th¢ charity is t0)P¢ from its ehrithble a¢tivitie8. U[eSl¢fed fijnds c•n be ed ill XC0rd with tht ehlritsble objectives the dt110 of th¢ tnw¢es. Resrrict¢d fid8 can ortty be used for p[lar withiti the obJe¢ts of the cban'ty. Restri¢lion$ Flnanell 1D$trUDnts I'he charity only has fin¥n¢i•l oJ* &Dd l14biliti of a kiThJ qlIfy gs bgsic firKi#l iDstruments'. Basic financial Instru initsajty rwo8nis&l trrnCtM value alsubS¢qUentlY me&8wed at their Settlertt value. OTHER THDc AcfIvETiFS 31J24 31.3.23 4321 3,846 Page 7 continueiL..
PRESTEIGNE AND RTON MUNI TRUST NOT R THE ANCIAL STATEMEM. contin AR ENDED 31 MARCH 2024 TRUSTEL8' REMUNERATION AND BENEFrrs 31 MaTch 2023. Tru$tffs' exptwes There were llo tru5tttd expu for the ytar ¢nded 31 MCh 2024 llOT for the Jrar ended 31 Marth 2023. COMPARATIVL8 FOR THE ATEM OF FINANCIAL ACllVmES Unrtstrided Restyicted Total ILYCOME AND ENDOWMENTS FROM Dotsai alld lewics 5,471 45.917 Other trading ttdiviti¢A 3,846 3.846 T&t*l 9J17 49.763 EXPLNDITUREON Raising fundq 727 727 Ch#rltibl¢ xftlvltles" Other resouwes ex 5.771 18.225 23.996 1.760 S(Kl 2.260 Total 8258 18.725 26,983 NET INCOME .059 21,721 22,7RO RECONCILIATION OF FUNDS To¢aE fvnds brotsBbt fonvard 854 854 TOTAL D"UIYDS CARRIED FORWARD 1,913 21,721 23,634 P8ge 8 ¢Olltit)ued...
PREsfEIGP4E AND NORTON COMMUNITY TO THE FIN R ENDED TATE H 21124 ntlTrued FOR T TAI¥GIBl FIXED ASSM Plant aThl COST Ai l April 2023 Additions 220 9825 At 31 March 2024 9,645 DEPRECIATION Charge for year 922 NET BOOK VALUE At 31 Mah 2024 &723 At 31 March 2023 220 CREDITOKS: AMOUNfs FALLINC DUE wfTHIN ONE YEAR 31J.24 31.3.23 Other creditOl8 2J99 1.6 MOVEMENT IN FUNLKS Net Transfers At 31.3.24 At 1.4.23 Oeneral fijnd Norton Community Hub 1,913 8J54 &9(12 19,169 S,Of17 1.913 13.961 &902 X776 Reitrieted funth Norton Council Archilectural Hentsge Fund PAVD Cjrant Meredith Bequcst Lott¢ry Conunurrity Moondan¢e Folmdation Foyle Foutldation Temt ldge Masot Cortllnunity Fund in Wales {3,VJ5) (1305) (1,7381 (293) 1.69(1 293 4J53 61 11124 {4J53) (865) (7021 (1,839) (2360> {9A22) 2360 5,000 21.721 {1020) (&902 10.999 TOTAL FUNDS 12.14) 35,775 P9 continued...
PRLSTEIGNE AND NORTON COMMUNITY TRusr NOTES TO THE FINAN FOR THE YEAR ENDED AL STATE AR H 2024 ntinued MOVEMENT IN FUNDS. Net DVent in fiwd% i1ded in aixm aT¢ follopls: Incoming Resources ex[Ied Mov¢ment in fillS Unregtrktert lundj Genernl furmj Norton CoTbwity Hub 13.$091 8J54 5,607 14J52 26315 {iU54) 13,961 Reltrleted fvDds Nonon Tow) CoutK ATehitcctural Heritage Fwd Meredith Bo4u¢sI Lottery Corrnnutiity Fund m)nd3C FouDdatiOn Bernard SuDley Foundaiion Foyle FoundNtM)n Cjarfield W&ston Tem¢ Lodge Masons CommuDiry Fund in Wiles R. Body o(Churcb in Wales (3.795> 11.738 (3,795) 14.553) 6.8113 {9.422) {69,997) (9,422) (Iso} (&061) {20.000 1.839 20,IMI 2360 2.260 s,0 (5.OlWI {34,654) (169J20 (1.820) TOTAL FUNDS 1943iS (181074 CowprAdwe8 for JD)veJnBtst Net nh)vemcnl At 31.3.23 At 1.4.22 UnrestrSrted funds General fund 1.059 1,913 Rwtrkted funds Norton Towm Council ATchiie¢iural Herila8e Futtd PAVO Grant Meredith Bequc5t Lottw Con¥nunity Fwxl MndanCe FouDdation 1,690 293 4.553 61 10.124 1,690 293 4,553 61 10,124 21.721 21.721 TOTAL FUNDS 854 21780 23.634 Page io continud..
PRLS IGNE AND NORTON COMMiSNITY TRU&[ NOTE TO THE FINANCIAL STATE FOR THE YEAR ENDgD31 H 21124 MOVEME fN FUNDS- eo•tln4ed InrJ)rnin8 Resowces Movement expended in fuj9 Unrtttrkted General fimd 9.317 (8.258) 1,059 Re$tt*ted Norton TowTr Counctl Architecwral Heritage Fund PAVO Grani Meredith B¢quest Lcthry Community FuTrJ 8.334 2,788 10.0( 42(M) 10.124 (6.644) (2,495) (5.447) {4.1391 1.690 293 4.553 65 10,124 (18.725) 21.721 TOTAI. FUNDS 49.763 (26.9831 22,780 A rent year 12 ny)nth8 and wior yw 12 wthined ption is as follo.. Net Tr&thsf¢rs nveMent betwttn irt fimds Ai 31.3.24 At 1.4.22 Unrestrlcted fun General fijnd Norton Commuwty Hub 854 9.413 5.607 19,169 5,607 854 13.020 24,776 Reitrkted ndS Norton Council Architectural Herits8c Fth)d PAVO Grant Lottery Community FWAI Mi)ondaoce FouDdatioD Troyle FoutHlatiOD TeTll¢ Lod8c MasorL ComtFwnity Fund in we$ 1205 1,738 293 6.864 702 1.839 2260 11.205) (1,738) (293} {865) {702} 11.839) 12,260} 5,999 5.0(Kl 19.901 18.902) 10.999 TOTAL FUNDS 854 34,921 35,775 Pageil continued...
RES IGNE AND NORTON COMMUNITY TRUST NOTE TO THE FINANCIAL FOR THE YEAR ENDED JI MA ATEMENTS- P*fOVEMENf IN FUNDS. as follows.. Resourtts M0vellt U#restrkted fwRd8 Gencral fund Norton ComTnunity Hub 21.180 14.352 (I 1.767) (8.745) 9,413 5.607 35,532 120J12) 15,020 Restrltted fundj Norton Town Council ArchitecttJr41 Heritage Fund PAVO Grant Meredith Bequest Lottery Community FutMI MoondBn¢¢ Foundation B¢rnard Sllnley Fout)dation Foyl¢ Foundation Garfield Teme Lodge Masons Community Trurwj in W81¢5 ljody ofchurcb in W¥l¢s {3,795) 18J82) (2.495) I10,0) (74.136) (9,422) II5.IMM)) 15.661) (20,0) 1,205 1.738 293 10.120 2.788 10.IKJO 81.IKKI 10,124 15,W) 7.5(Kl 6,864 702 1.839 2260 10.( 34,654 2,260 (S,0) (34.6541 (188J45) 19.901 T(YfAL FUNDS 243.978 (209.057) 34.921 The Nats¢)Ml Lotwy Fund bal8Me of £5.999 crIed forw•rd 31st March 2024 1$ to nxet the futsl vestry renovdtion ¢0915 P8id post end. The Community Foundation wal balatKe of £5,) carried roThd at 31st March 2024 relates w fimdin8 towwds 8¢nior lunches and js8uesjl year to June 2025. TraferS behyttts futtds Tr tranrfer of from Stricted io UTreskn¢re41 tttes to fundmg receiY>J for tk pwchase of fixtures and fitting$ and related costs fthe Conversir of the chur¢h and commlty hub. RELATED PARTY DlSCtA)SUBES There were no related party for the yur 31 M8r¢h 2024. Page 12
PREgfEIGNE AND N RTON MMUN Trusr ETAIL FO THEY TA MENT OF FIT4ANCIAL ACTivrriFS ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AND ENDOWMEiYTS Dongti0fj$ legxks Dotiations Income- The Hub CJf8nts 3.086 13,408 173JOO 5,471 189,994 45,917 other trAdlng Aetlvltles Fundrnising events 4221 3.840 TO1 IntomlDg reM•r¢ 194215 49,763 EXPENDITURE RAlsltt8 doDdoni and leyek• Sundries 727 Ch8rltable i¢tlvlil TelcphonL Expenditur¢- The Hub Ar¢hitect fees Maiijtenance and repwiF8 Markcting f¢es DepTe¢iation of plattt & mh1[ry &732 &856 IS7.169 1,382 9,586 912 17S828 23.996 Support tosts MnagemeTht Rates and water Light and heal Sundn lJ82 1305 520 3,136 520 Governanee co ProfessionAI fee5 Accountancy atMI le8al fres 1.140 2.6(10 1,740 Total r¢8ources eXMIed 181074 26,983 Net In¢omt 11141 22.780 Page 13