2023-12-31-accounts

Friends of Trent Vale Trail Trustee Annual Report

For the period 12 August 2022* to 31 December 2023

* The date the Friends of Trent Vale Trail became a Charitable Incorporated Organisation (CIO). The normal reporting period is 1 January to 31 December.

1. Introduction

We are pleased to present the Trustee Annual Report for Friends Trent Vale Trail (FoTVT) for the financial period ending 31 December 2023. This report covers the period from 12 August 2022, when the FoTVT became a CIO having previously been a formal community group to the end of the latest financial period, 31 December 2023. This report provides an overview of the charity's activities, achievements, and financial performance during the year.

2. Governance Structure

The FoTVT is governed by a board of trustees, who are responsible for overseeing the charity's operations and ensuring that it fulfils its charitable objectives. The board meets regularly throughout the year to review performance, set strategic direction, and ensure compliance with legal and regulatory requirements. The regular meetings also include management volunteers who provide input and expertise. The trustees during the reporting period were,

Jonathan Collingwood-Smith Bindy Dadswell (appointed 29/11/2022) John Ford (Chair March 2023 onward) Karen Grundy, Treasurer Andrew Hindmarsh Alan Hudson (Chair to March 2023) Steve Lee (appointed 13/12/2022) Richard Sargent

Management volunteers active during the period were, Linda Dales Graham Farquhar Chris Thompson Peter Knox (Minutes Secretary)

3. Charitable Activities

During the year, FoTVT continued to deliver on its object for the public benefit, to develop and promote the ‘trent vale trail’ as a safe long distance publicly available transport route for cycling, walking and other forms of low energy transport and so secure the trail as a public amenity and a facility for recreation and other leisure-time occupation in the interests of social welfare with the object of improving the conditions of life for the inhabitants of Nottinghamshire and other users of the trail.

Our charitable activities included:

a) to raise funds to complete the Trent Vale Trail as a safe route for cyclists, walkers and, where possible for horse riders and mobility aid users, to access the villages and nature reserves between Newark and South Clifton.

b) to maintain and enhance sections of the Trail once built and to facilitate the Trail's use by people of all ages and abilities.

In the reporting period the FoTVT achieved the following,

Trail Development

• Surface improvement & fencing on private land, with permissory access, from Fleet Lane & Low Road, Besthorpe to the floodbank.

• Dropped kerbs and tarmac apron where Tinkers Lane, Girton connects with Trent Vale Trail

• 63m[2] of concrete pads installed opposite three field entrances on Green Lane, Girton. Comprised of one pad 14 metres x 3 metres and one pad 7 metres x 3 metres.

• Sustrans were commissioned to complete engineering work, supplying detailed drawings, showing the exact route over Clifton Hill and construction details for the trail surface.

Funding

The following grants were deposited to the FoTVT bank.

• £20,000 – Agreement signed January 2023 Shared Prosperity Fund administered by Newark & Sherwood District Council (NSDC). Funded construction of concrete pads on Green Lane, Girton.

• £10,000 – April 2023, National Grid Communities Grant Program. Funded 60% of Besthorpe fencing and surface improvement.

A grant agreement for the Shared Prosperity Fund (SPF) was signed with NSDC for a total of £70,000 toward the construction of the Spalford-South Clifton section. £9129.60 from this grant was deposited to the FoTVT bank in November 2023 to settle an invoice from Sustrans for engineering work on the route and construction details of the trail over Clifton Hill.

Agreement in principle

• £197,512 – Letter in advance of formal agreement awarding FoTVT grant from Rural England Prosperity Fund administered by Newark & Sherwood District Council (NSDC). Conditions attached that the Nottinghamshire County Council diversion/upgrade order for the South Clifton section to be in place by 31 March 2024.

The following grant applications were declined.

• National Lottery Community Grant rejected our application as the Friends of Trent Vale Trail do not own or have an unbreakable lease for the rights of way.

• Nottinghamshire County Council Local Communities Fund (LCF), declined as at that point in time we did not the necessary order to divert and upgrade the Spalford-South Clifton section nor all the funding to complete the works.

Impacts

• The surface improvements, fencing and concrete pads have made previous rights of way accessible to more in our community whereas previously these sections were not easy for casual walkers and cyclists to navigate.

Other

• Implemented Health & Safety, Diversity & Inclusivity policies & GDPR statement.

• Assisted Nottinghamshire County Council in the preparation and publishing of the preconsultation on the South Clifton right of way diversion and upgrade to bridleway.

We are proud to report that our activities have positively impacted the lives of the Collingham, Besthorpe and Girton communities during the reporting period.

4. Financial Performance

FoTVT is committed to ensuring the responsible stewardship of funds entrusted to us by our donors and supporters. Highlights of our financial performance for the year include:

- Total income:	£40,098.08	£40,098.08
	Comprising	Grants £39,129.60
		Donations £968.48
- Total expenditure:	£38,889.51
- Net surplus:	£1,208.57

In the reporting period the FoTVT received a sum of £9,129.60 drawn down from Shared Prosperity Fund administered by NSDC. This was to pay Sustrans for their engineering work on the Clifton Hill section. The Sustrans invoice was not presented in the reporting period but is a future liability for FoTVT.

The FoTVT commitment is to use as much as possible of kind donations and grants toward the construction and maintenance of the Trent Vale Trail. Equally we want to minimise costs associated with our work. In the reporting period more than 99.5% of our income was put toward construction and trail improvements. We are pleased to report that we will continue our charitable activities and maximise investment in our mission.

5. Governance and Risk Management

FoTVT is committed to maintaining the highest standards of governance and risk management. During the reporting period, the board undertook the following actions:

• Implemented the following processes and procedures,

• Payment authorisation

• Health & Safety

• Diversity & Inclusivity

• GDPR statement

The trustees continue to monitor and manage risks affecting the charity's operations while at all times complying with known legal and regulatory requirements. We are confident that our

governance framework enables us to effectively manage risks and fulfil our obligations as a charity.

6. Future Outlook

In 2024 the key task for FoTVT is to fill the relatively small funding gap and complete construction of the final section of the Trent Vale Trail through Spalford and connecting with the public highway at Coal Yard Lane, South Clifton. Grants are in place to fund 86% of the total cost. The trustees are hopeful that the final section be constructed by Summer 2024 and consequently the Trent Vale Trail will complete the connection of Newark to South Clifton.

The FoTVT remains committed to the Trent Vale Trail and where possible accessibility for all. We hope that completion of the trail will expand its reach and impact.

We are excited about the opportunities that lie ahead and are truly grateful for the continued support of our donors, grant providers volunteers, and stakeholders.

7. Conclusion

We would like to express our sincere gratitude to everyone who has contributed to the FoTVT 's success between 12 August 2022 to 31 December 2023. Your support enables us to make a meaningful difference in the lives of those we serve.

On behalf of the board of trustees, we look forward to another successful year ahead.

Signature:

John Ford, Chair Friends of Trent Vale Trail

Date: 5 April 2024

The Friends of Trent Vale Trail (FoTVT)

Statement of Financial Activities For the Year to 31st December 2023	2023	2022
Income of charitable activities Donations and legacies Grants Other income	£ 0 9,498 30,000 0	£
		0
		1,912
		30,356
		0
Total income	£39,498	£32,267
Cost of charitable activities Car and travel expense Staf costs Insurance costs and overheads Equipment Accountancy, legal and other professional fees Interest on bank and credit card etc. fnancial charges Phone,stationeryand other ofce costs	33,205 0 0 96 0 0 0 0
		40,052
		0
		25
		96
		0
		25
		0
		18
Total allowable expenses	£33,301	£40,216
Net Surplus(Defcit)	£6,198	-£7,949

The Friends of Trent Vale Trail (FoTVT)

Balance Sheet as at 31st December 2023	2023	2022
ASSETS	£ 13,452	£
Bank		7,254
	£13,452	£7,254
RESERVES	7,254 6,198
Brought Forward 1st January 2023 Net Surplus(Defcit)		15,203
		-7,949
	£13,452	£7,254

ACCOI ST.4NT'S REPORT TO THE FRIF.NDS OF TRF.NT VALE TRAIL I hai'¥ uNamined the attached Statemenl of Financial AcliTrities log>eih¢r with Ihe underlying book's ol. account and can confinn thai the Siaiimeni IS d truc rclleLlion of the aLiii'ilies of Ihe rriL'nds ot-Trcnt Valc Trail t.or Ihi ) Lar Lndid .) I sl DLceIiibL'r •0?3 Rod CJeorL7e Chanered Accouniant I X I lig,h SirL'et C 01Sin&)ham i)Ilingham5hir N'G23 7LA 4th March 2024