## **Great Somerford Free Gardens CIO Finance Report** 

Prepared by: John Harper, Treasurer Date: 23[rd] February, 2024 Period covered: 21[st] September 2022 to 31[st] March 2023 

## _Introduction_ 

The CIO was incorporated on 21[st] September 2022 for the purpose of taking over the assets and administration of the Free Gardens charity (number 203850).  The rationale of the transfer is that the Free Gardens are currently held in trust by Great Somerford Parish Council and all parish councillors are obliged to become Free Gardens trustees.  This was deemed not to be in the best interests of the Free Gardens and that a CIO would provide greater clarity of ownership and purpose, and that Trustees would be drawn from a wider pool of candidates (the constitution stipulates a mix of parish councillors and representatives of both the villagers and allotment holders). 

The transfer of assets (cash and the Free Gardens land) was approved by Great Somerford  Parish  Council  post  the  end  of  the  financial  year.   There  were therefore no transactions during the year and the charity did not take ownership of its assets, which is expected to take place in the 2023/24 financial year.