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2021-12-31-accounts

TRUSTEES REPORT

&

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2021

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TABLE OF CONTENTS
INTRODUCTION 3
PREAMBLE TO THE REPORT 3
A BRIEF HISTORY OF WLC 3
OBJECT OF WEYBRIDGE LAND CHARITY 4
GRANT GIVING IN 2021 4
TRUSTEES & ADMINSTRATION 5
CHURCHFIELDS ALLOTMENTS 5
PROFESSIONAL SERVICES 7
ADMINISTRATION IMPROVEMENTS IN 2021 7
FUNDING OF THE CHARITY 8
ASSETS OF THE CHARITY 8
PERMANENT ENDOWMENT & RESTRICTED FUNDS 9
RESERVES POLICY 9
RISK MANAGEMENT 10
TRUSTEES RESPONSIBILITIES IN RESPECT TO THE FINANCIAL STATEMENTS 10
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS 12
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021 13
BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2021 14
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 15
NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES 17

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INTRODUCTION

The registered name of the charity is ‘Weybridge Poor’s Land’ Charity, and its working name is now ‘Weybridge Land Charity’, (WLC) in preference to the previous short form “Weybridge Charity” to more appropriately reflect the history and importance of the Churchfields Allotments in the past, present and future activities of WLC.

The Trustees are pleased to present their Annual Report and the independently examined Financial Statements for the year ended 31 December 2021.

The Financial Statements have been prepared in accordance with the accounting policies set out on page 11 of the Accounts and comply with the Charity’s Schemes, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (published on 16 July 2014), which is applicable to Charities preparing Accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland.

PREAMBLE TO THE REPORT

In 2021 Trustees have successfully completed reviews of strategy, values, objectives and opportunities as prerequisites to transitioning the Charity from a little known and only moderately effective, narrowly focused community organisation, into a modern, efficient, cost effective agent of change. We support the provision of enduring benefits to more and broader elements in the Weybridge KT13 postcode area through better links to those in need and better identification of real needs.

Throughout this report references are made to specific considerations, findings and achievements during the year. These have been an important component in defining the opportunities for WLC to make a real difference in Weybridge. Weaknesses and ineffective practices have been reduced, tight financial controls implemented and revenues increased. WLC is becoming a much better !fit for purpose” organisation.

A BRIEF HISTORY OF WLC

The Weybridge and Byfleet Enclosure Act 1800 directed that Commissioners should set out and allot parts of the commons and waste lands in the Parish of Weybridge for the use of the occupiers of cottages within the Parish of Weybridge. The Allotments Extension Act of 1882, required that Trustees of land held for the benefit of the poor had to set aside a portion of that land for garden allotments. Accordingly, in 1883 a Scheme of the Charity Commissioners set aside land at the Heath at Weybridge for the general benefit of the inhabitants of the Parish of Weybridge and the income was to be used to rent land near Weybridge Church as allotments.

In 1910 Weybridge Council became Trustees for the administration and management of the Charity; and in 1911 a Deed of Exchange effected the transfer of the title of 9.385 acres adjoining the Church together with a small parcel of land on Pine Grove,

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Weybridge to the Charity.

WLC remains regulated by the scheme of 1910, together with various subsequent amendments, and retains ownership of the 9.385 acres of land in central Weybridge.

In 1999, the land at Pine Grove was sold, and the proceeds (£1 million) invested to provide an income to support the Charity’s "Objects".

OBJECT OF WEYBRIDGE LAND CHARITY

The Charity has one object and two activities as described in the Scheme as amended in June 2000:

The Object of the Charity is:

“The relief of persons resident in the area of benefit who are in need, hardship or distress”.

The Activities of the Charity are:

“Provision of allotments for use by residents of Weybridge” and “After settling its costs of operations, to use surplus funds to provide the relief of persons resident in Weybridge who are in need, hardship or distress.”

To increase the utilisation and viability of the allotments, an amendment to the Scheme of WLC in 2000 removed the requirement that existing and new allotment holders are themselves in need, hardship or distress.

GRANT GIVING IN 2021

Following a strategic review and the implementation of more effective processes, grant applications have been more carefully scrutinised. As a consequence, grant funding in 2021 was lower than historical levels and cash reserves have increased. Historically the charity has provided grants which could have been provided by other local and national government agencies. Trustees have agreed that future grant giving should be for projects and beneficiaries which would not otherwise be provided for.

Trustees also anticipate the need for larger scale projects or grants, rather than small grants to individual beneficiaries. While these are important to those individuals, they have had limited enduring or wider community benefit.

In 2021, WLC entered into !Partnership Agreements” and adopted formal

!Memoranda of Understanding” (MOU) with several community groups who demonstrated expertise and capability in their work to assist those in the KT13 area with specific needs. These groups include the Food Bank, Citizens Advice Bureau, Local Schools. As a result funding from WLC was directed more effectively using local expertise. The benefits delivered varied from immediate benefits, (eg food and fuel) intermediate benefits, (e.g. computers and vocational trips) and longer term benefits (e.g. counselling and mental health support). WLC Trustees are confident that through these collaborative approaches, grants can be more effective and better targeted to those in genuine need and distress, in accordance with the Charity Objective.

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Trustees expect that in future years, Grant giving will continue to be distributed via these collaborative arrangements and will also include new stand-alone community projects directly funded by WLC. Thus it is unlikely that WLC will revert to the historical practice of ad hoc grant giving on its own account to individuals who apply directly to WLC for aid.

TRUSTEES & ADMINSTRATION

Prior to 2020 WLC had a permitted establishment of up to 11 Trustees, of which up to 6 were to be nominated by Elmbridge Borough Council (EBC) and up to five representatives of the community with relevant expertise and local knowledge could be co-opted by the other Trustees.

On 12 November 2020, the Charity Scheme was further amended to permit the reduction of EBC Nominated Trustees from six to two Trustees, and to enable the appointment of up to nine Community Trustees.

During the 2021 year the Trustees of the Charity were: (* denotes Trustee in post)

EBC Nominated Trustees

Mr Michael Freeman (appointed 10 April 2019, resigned 31 March 2021)

Mr Glenn Dearlove (resigned April 2021)

Mr Peter Harman (resigned May 2021)

Mr Tim Oliver (appointed 26 February 2019, resigned June 2021)

*Mrs Vicki Macleod (appointed 26 February 2019)

Co-Opted Community Trustees

Mrs Alison Lornie (appointed 10 April 2013, resigned 31 March 2021)

*Mrs Carlye Case (appointed 9 April 2014)

*Mrs Helen Lamb (appointed 3 January 2020) Chair w.e.f. June 2020

*Mr Murray Law (appointed 3 January 2020)

*Mrs Jackie Martin (appointed 30 October 2020)

*Mr Stephen Fuller (appointed 2 December 2020)

Mr Graham Pearse (appointed 18 January 2021, resigned 9 November 2021)

CHURCHFIELDS ALLOTMENTS

Until September 2021 the day-to-day management of the allotments was carried out by an association of allotment tenants, known as the Weybridge Allotment Holders & Gardeners Association (WAHGA) and acting as Agent of the Charity. This Agency Agreement (originating in 1972) provided that WAHGA undertook various tasks such as collection of rents, recruitment of new plot tenants and certain maintenance tasks. Having been unable to resolve several important operational and management shortcomings, in September 2021, the Trustees terminated this agreement and

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directly assumed all of those activities and responsibilities.

Unfortunately, at the end 2021, WAHGA initiated legal proceedings to challenge the WLC requirement for WAHGA to vacate an area of the allotments. These proceedings are ongoing and continue to incur unbudgeted legal costs which will be included in 2022 Accounts. While these proceedings are continuing, WLC is unfortunately unable to implement a new source of garden supplies which will be of benefit to allotment holders.

WLC Trustees have resolved to improve the utilisation of the allotments, and to make the allotments area more accessible to the wider community in order to maximise the physical, social and health benefits. Significant improvements have already been achieved, notably but not exclusively in the:

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In June 2021, the newly established Weybridge Men"s Shed (Charity Reg # 1187384) opened on a long standing disused area of the allotments. This Charity provides a facility for people (mainly men) who are more socially isolated to meet up and perform practical things for themselves and/or the community. Already the Shed has been more successful than planned. Having a well-equipped workshop and willing volunteers on the allotments provides an additional service for allotment holders and an additional maintenance capability for WLC.

Together with annual rent payments in September 2021, allotment tenants also contributed a total of £850 in discretionary donations to WLC for use in charitable activities. WLC Trustees agreed to match this total and a project to provide mobility to elderly and incapacitated allotment visitors will be implemented in 2022.

PROFESSIONAL SERVICES

Independent Examiner

For the 2021 year, the Trustees resolved to reappoint Andrew Gadoros FCA, ABG Accountancy, The Quadrant Centre, Limes Road, Weybridge, Surrey, KT13 8DH

Fund Manager

Michael Barlow, JM Finn & Co., 4 Coleman Street, London, EC2R 5TA

Bank

CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

ADMINISTRATION IMPROVEMENTS IN 2021

In June 2020, the arrangement for administration of WLC by Walton Charity was terminated and replaced by direct responsibility and accountability by Charity Trustees.

WLC has completed the transition from a paper-based administration system to a Cloud based system which provides more secure and real time access to information and messaging processes. Following the transfer, a number of missing records, notably allotment tenancy agreements, were identified. Continual improvements and enhancements will be pursued as and when they are identified and implementation resources are available.

To facilitate the direct administration and management of the Churchfields Allotments from September 2021, a computerised accounting system was installed. In addition to efficiently handling the invoicing and payments processing required for the allotments, the system provides Trustees with real time financial information and simplifies year end Reporting.

In 2021, Trustees continued with the practice of monthly meetings in place of the historical

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3 meetings a year structure. To facilitate this during COVID lockdown and recognising the benefits of greater attendance at meetings in any event, the Charity Scheme has been amended to provide for physical, virtual and hybrid meetings of Trustees as a normal part of business.

Trustees are aware of the importance of compliance with GDPR. They now maintain the personal data of allotment tenants consistent with the published WLC GDPR Policy.

In 2021 WLC completed registration with HMRC to enable entitlement to Gift Aid on qualifying donations.

Trustees recognise the desirability of consolidating and updating the formal Charity Scheme documentation. This will incorporate the original June 1910 Scheme document and the subsequent amendments into a single document. It is intended that this will be done as resources become available.

FUNDING OF THE CHARITY

Funding of the Charity and its activities is from three principal sources:

ASSETS OF THE CHARITY

a. Churchfields Allotments

Located in the centre of Weybridge town, the 9.385 acres of land commonly known as the Churchfields Allotments, has been an important amenity and feature of community since 1910.

b. Investment Portfolio

The charity is a long-term investor and the Trustees, on professional advice, hold a mixed portfolio of equities, bonds and other investments designed to provide a level of income and capital growth.

The composition of the investment portfolio is of medium risk.

The portfolio is managed by a remunerated independent Fund Manager. The brief to the Fund Manager includes the expectation of an annual income not less than £50,000 together with capital growth in line with the stated risk profile. In 2020, the investment income was £36,572.

At year end 2021, the assessed value of the investment fund was £2,475,203 and at year end 31 December 2020 the corresponding valuation was £2,189,942. A return of 13.0%

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was achieved (13.6% before fees).

PERMANENT ENDOWMENT & RESTRICTED FUNDS

During 2019 WLC Trustees sought legal advice on the extent to which WLC Funds and Land should be considered Permanent Endowment. That advice was that both the original proceeds and the subsequent capital gains from the sale of the Pine Grove Allotments in 1999, were required to be treated as Permanent Endowment, and therefore Restricted Funds.

The advice further noted that land which is a permanent endowment cannot be sold without an order from the Charity Commission, as occurred on the occasion of the sale of the Pine Grove site. This confirmed that in accordance with the terms of the order for that sale, the Pine Grove sale proceeds which were then invested, were to be treated as "investment permanent endowment”. Accordingly, only the income from that original investment (and not any element of capital gain) has been drawn on to meet the costs and objects of the Charity. As a result of this legal advice, the element of Unrestricted Funds has been specifically identified in the investment portfolio.

In 2020 the detail of this accounting and financial management methodology was shared with the Charity Commission. At the request of the Commission, this method of allocation and identification of funds between Unrestricted Funds and Restricted Funds is included in the annual return; and this is shown in note 7 of the Statement of Financial Activities.

Unrestricted funds attributable to investments held before 1999 (the Sale) totalled £104,281, and these funds have been used to provide income to the Charity in the same way as the Permanent Endowment investments.

The total of Unrestricted Funds in the portfolio at year end was £161,084.

RESERVES POLICY

The Reserves Policy is part of the Charity"s risk assessment process, and takes into account the working capital required, the reliability of income, the normal outgoings, and any potential risks of unusual and/or unforeseen expenditure (e.g., tree surgery on allotment land).

The Charity has a reliable income stream from allotment rents, its investment endowment fund, and a simple and reduced cost structure and does not envisage having to cease operations for any reason.

On this basis, a nominal reserve of £25,000 is set and will be held within the “Unrestricted Investment Fund”. The trustees believe it’s more than sufficient to cover the cost of WLC operation for a full year, now that the Allotments costs have reached break even. The amount of reserve fund required is reviewed annually.

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RISK MANAGEMENT

The Trustees have a process for assessing risk and routinely evaluate any new activity or project in order to identify any significant risks to which WLC may be exposed so that proportionate measures to mitigate them can be implemented. WLC has a comprehensive Insurance Policy with Zurich Insurance. Risk assessments of both the former administration arrangement with Walton Charity and the allotment management by WAHGA identified significant management, control and reporting risks. Prompt mitigation of those risks was therefore required.

COVID 19 UPDATE

In order to continue its activities, the Charity Scheme was amended to provide for virtual meetings during the pandemic lockdowns and mandatory isolation. The Charity continuously reviews the means by which it meets immediate and longer term community needs, consistent with its Object. Trustees anticipate there will be long-term consequences arising from the steps taken to manage the pandemic. For example, an increased need to reduce social isolation in some sectors of the community and an improvement in access to and familiarity with on-line communications. The charity has accumulated reserves for these and any other potential projects when and if they become defined and sufficiently justified. Trustees believe that a local charity network would be beneficial. It would help to facilitate an information exchange and identify relevant organisations which could efficiently deliver support and services to covid affected groups in the Weybridge community.

TRUSTEES RESPONSIBILITIES IN RESPECT TO THE FINANCIAL STATEMENTS

The WLC Trustees are responsible for preparing an Annual Report and Financial Statements in accordance with the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008.

They conform to the Financial Reporting Standards (FRS) applicable in the UK and the Republic of Ireland, and Accounts are prepared in accordance with FRS 102 and the Statement of Recommended Practice (SORP) issued by the Charity Commission.

WLC Trustees are required to prepare financial statements each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. This involves:

• preparing the financial statements on the basis of being a going concern unless it is inappropriate to presume that the charity will continue in operation;

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comparable and complete;

They are also responsible for safeguarding the assets of WLC and taking reasonable steps for the prevention and detection of fraud and other irregularities, and for the maintenance and integrity of financial information.

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WEYBRIDGE IAND CHARiri WLC BEGI￿ERED In EIWJD No 200270 INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS WEYBRIDGE LAND CHARITY Registr3tlDn #2(M1270. Independent Examinerf5 Report on the Acrounts Report to the trustees of the charity on the account5 for the year ended 31 December 2021 set out on pages 13 10 23. Respectlve respot)slblllile5 of trustees and examiner The charity's trustees are responsible for the prepar3tion of the accounts. The charity's trustees consider th31 an audit Is not required for this ye3r under section 144 of the Chèrities Act 2011 Iihe Ch3rities Act) and th3t an independent exatnination Is neèded. examine the accounts under Section 145 of the Charities Att, to follow the procedures laid down In the general Direction5 given by the Ch3rity Commission (under section 14515llbl of the Charities Act. and to State whether particular matters have come to my attention. Basis of independent examinerfs statement My examination was carried out In accordance with general Directions given by the Charity Cornmission. An examination Includes a review of the accounting records kept by the charitv 3nd comparison of the accounts presented with those record5. It 3150 includes consideration of any unusual items or disclosures In the accounts and seeking exp13n3tions from the trustees concerning any such matters. The procedure5 undertaken do not provide 311 the evidence that would be required in an audit, and consequently no opinion Is given as to whether the accounts present a 'true and fairf view and the report is limited to those matters set out In rhe statement below. Independent Examlnerfs Statement In ionnection with my examination, no matter has come to rny attention which gives me reasonable c3use to believe that in. 3ny m3terial respect, the requirements.. to keep accountin8 record5 in èccordance with section 130 of the Chariiies Act-, and to prepare accounts which accord with the accountlnE record5 and comply with the accounting requireynents of the Charities Act have not been met,. Dr to which, in my opinion. attention should be drawn In order to enable a proper understanding of the account5 to be reached. $18ned.. Date.. N3me'. Andrew Gadoros Relevant professional FCA Address.. ABG Accountancy The Quadrant Centre Limes Road, Weybrid8e Surrey, KT13 8DH Pa8e 12 Page= 12

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Income
Charitable activities
2
Donations received
Investments
3
Total income
Expenditure
Charitable activities
4
Total Expenditure
Net revenue /
(expenditure)
Net gains on
investments
5
Net movement in
funds for the year
Funds b/fwd
Transfer between funds
Funds c/fwd		 General
Funds
9,671
933
39,734
50,338
17,932
17,932
32,406
-
32,406
69,016
-
101,422		 Invest-
ment
Funds
-
-
-
-
16,200
16,200
(16,200)
316,605
300,405
2,475,203
-
2,775,608		 Total
Funds
2021
9,671
933
39,734
50,338
34,132
34,132
16,206
316,605
332,811
2,544,219
-
2,877,030		 General
Funds
6,933
2,000
36,578
45,511
27,014
27,014
18,497
-
18,497
50,519
- -		 Invest-
ment
Funds
-
-
-
-
13,554
13,554
(13,554)
298,815
285,261
2,189,942
-		 Total
Funds
2020
6,933
2,000
36,578
45,511
40,568
40,568
4,943
298,815
303,758
2,240,461
69,016 2,475,203 2,544,219

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BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Fixed assets
Tangible fixed assets
6
Investments
7,8
Total fixed assets
Current assets
Investment cash
8,9
Cash at bank and in
hand
9
Debtors
10
Total current assets
Liabilities
Amounts falling due
within one year
11
Net current assets
Total net assets		 General
Funds
1,337
-
1,337
68,034
33,429
30
101,493
(1,408)
100,085
101,422		 Invest-
ment
Funds
-
2,776,421
2,776,421
(831)
-
-
(813)
-
(813)
2,775,608		 Total
Funds
2021
1,337
2,776,421
2,777,758
67,221
33,429
30
100,680
(1,408)
99,272
2,877,030		 General
Funds
-
-
-
-
72,676
-
72,676
(3,660)
69,016
69,016		 Invest-
ment
Funds
-
2,432,210
2,432,210
42,993
-
-
42,993
-
42,993
2,475,203		 Total
Funds
2020
-
2,432,210
2,432,210
42,993
72,676
-
115,669
(3,660)
112,009
2,544,219

Approved by the Trustees on 17[th] April 2022 and signed on their behalf by;

Helen Lamb

Chair of the Trustees

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STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021

General
Funds
Investment
Funds
Cash flows from operating activities:
Net cash used in operating activities
30,569.
(16,200)
Cash flows from investing activities
Proceeds from sale of investments
-
395,445.
Purchases of investments
-
(423,051)
Net cash utilised by investing activities
-
(27,606)
Tangible fixed assets purchased
(1,782)
-
Change in cash and cash equivalents in the year
28,787.
(43,806)
Cash and cash equivalents at the beginning of
the year
72,676.
42,993.
Cash and cash equivalents at the end of the year
101,463.
(813)
Reconciliation of net expenditure to net cash flow from operating activities
General
Funds
Investment
Funds
Net income per the statement of financial
resources
32,406.
300,405.
Adjustments for:
Gains on investments
-.
(316,605)
32,406.
(16,200)
Decrease in debtors
(30)
-
Decrease in creditors
(2,252)
-
Depreciation
445.
-
Net cash used in operating activities
30,569.
(16,200)		 Total Funds
2021
14,369.
395,445.
(423,051)
(27,606)
(1,782)
(15,019)
115,669.
100,650.
Total Funds
2021
332,811.
(316,605)
16,206.
(30)
(2,252)
445.
14,369.

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Statement of cash flows for the year ended 31 December 2020 (cont.)

General
Funds
Investment
Funds
Cash flows from operating activities:
Net cash used in operating activities
22,628
(13,554)
Cash flows from investing activities
Proceeds from sale of investments
-
312,638
Purchases of investments
-
(261,375)
Net cash provided by investing activities
-
51,263
Change in cash and cash equivalents in the
year
22,628
37,709
Cash and cash equivalents at the beginning of
the year
50,048
5,284
Cash and cash equivalents at the end of the
year
72,676
42,993
Reconciliation of net expenditure to net cash flow from operating activities
General
Funds
Investment
Funds
Net income per the statement of financial
resources
18,497.
285,261.
Adjustments for:
Gains on investments
-.
(298,815)
18,497.
(13,554)
(Increase) / decrease in debtors
7,117.
-.
Increase / (decrease) in creditors
(2,986)
-.
Net cash used in operating activities
22,628.
(13,554)		 Total
Funds 2020
9,074
312,638
(261,375)
51,263
60,337
55,332
115,669
Total
Funds 2020
303,758.
(298,815)
4,943.
7,117.
(2,986)
9,074.

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NOTES TO THE STATEMENT OF FINANCIAL ACTIVITIES

1. Accounting standards, policies, concepts and principles

Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The financial statements have been compiled with reference to the ‘Statement of Recommended Practice: Accounting and Reporting by Charities’ and the accounts have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Recognition of income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Recognition of expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual basis. All expenses including support costs and governance costs are allocated or apportioned to their applicable expenditure headings.

Investments

Investments are measured initially at cost and subsequently at their market value at the reporting date in accordance with paragraph 11.14(d) of FRS 102.

The investment fund managers (JM Finn & Co.) are instructed to seek growth but maintain a medium risk portfolio. They are instructed to achieve income of at least £50,000 each year.

Reserves

Reserves held by the charity are either:

Unrestricted reserves – which may be used in accordance with operational and charitable activities at the discretion of the trustees.

Permanent Endowment – are funds of which the capital cannot be spent but are to be invested to generate income.

Costs which can be offset against the permanent endowment funds include the costs of maintaining the capital element of the endowment funds, gains and losses on disposal of assets, unrealised gains and losses and similar charges.

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Tangible assets

The charity owns the freehold of approximately 9.385 acres of land at Churchfields, Weybridge. This land is valued in the accounts at nil cost as it was obtained by the charity without charge on the exchange of lands with the former Weybridge Urban District Council in 1910. An estimated current-use value of £96,000 has been ascribed to this land. Other fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:

Fixtures, fittings and plant – 25% written down value

2. Income from charitable activities

These comprise allotment rents and wayleaves.

3. Income from investments

Investment dividends
Interest received on cash balances
Total		 2021
39,730
4
39,734		 2020
36,572
6
36,578

4. Expenditure on charitable activities

Grants and direct costs
Emergency aid
Fayre
Maintenance and
development of
allotment land
Support and
administration costs
Professional fees
Fund manager’s fees
and dealing expenses
Independent examiner’s
fees
Bank charges
Insurance
Stationery, postage and
website maintenance
Depreciation
Total expenditure on
charitable activities		 General
Funds
7,882
1,009
4,947
13,838
864
-
1,260
236
316
973
445
4,094
17,932		 Invest-
ment
Funds
-
-
-
-
-
16,200
-
-
-
-
-
16,200
16,200		 Total
Funds
2021
7,882
1,009
4,947
13,838
864
16,200
1,260
236
316
973
445
20,294
34,132		 General
Funds
11,770
-
8,667
20,437
4,254
-
1,440
-
607
276
-
6,577
27,014		 Invest-
ment
Funds
-
-
-
-
-
13,554
-
-
-
-
-
13,554
13,554		 Total
Funds
2020
11,770
-
8,667
20,437
4,254
13,554
1,440
-
607
276
-
20,131
40,568

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Expenditure is recorded on an accruals basis.

The charity has no contractual obligations which have been omitted from the accounts for the year.

5. Net gains on
Realised gains/(losses)
on investment sales
1 January m.v. of
investments sold
Purchases
Sale proceeds
Quoted investments in
the U.K.
Market value at
1 January
Additions
Disposals
Market value at
31 December
Unrealised investment
gains (UK quoted)
Other investments
Market value at
1 January
Additions
Disposals
Market value at
31 December
Unrealised investment
gains (other)
Total unrealised
investment gains
Total net gains on
investments		 investments
Fixed
Interest
-
-
-
-
151,941
-
-
151,941
152,113
172
-

-
-
-
-
-
172
172		 Equities
and Funds
(355,295)
(25,125)
395,445.
15,025.
812,713.
71,479.
(188,714)
695,478
790,570
95,092
1,467,556.
351,572.
(191,706)
1,627,422
1,833,738
206,316
301,408
316,433		 Total
2021
(355,925)
(25,125)
395,445.
15,025.
964,654
71,479.
(188,714)
847,419
942,683
95,264
1,467,556.
351,572.
(191,706)
1,627,422
1,833,738
206,316
301,580
316,605		 Fixed
Interest
-
-
-
-
138,455
105
-
138,560
151,941
13,381
-
-
-
-
-
-
13,381
13,381		 Equities
and Funds
(348,397)
(39,898)
312,638.
(75,657)
1,004,780.
104,677.
(315,519)
793,938.
812,713.
18,775.
1,041,422.
156,593.
(72,775)
1,125,240.
1,467,556.
342,316.
361,091.
285,434.		 Total
2020
(348,397)
(39,298)
312,638.
(75,657)
1,143,235.
105,782.
(315,519)
932,498.
964,654.
32,156.
1,041,422.
156,593.
(72,775)
1,125,240.
1,467,556.
342,316.
374,472.
298,815.

6 Fixed assets

Equipment Cost

2021

Page: 19

As at 1 January
Additions
As at 31 December
Depreciation
As at 1 January
Charge for the year
As at 31 December
Net book value
As at 31 December
As at 1 January		 -
1,782
1,782
-
445
445
1,337
-

7. Investment Fund

Fixed
Interest
UK quoted
investments
Value at 1 January
151,941
Additions
-
Disposals
-
Unrealised gains
172
Value at 31 December
152,113
Other investments
Value at 1 January
-

Additions
-
Disposals
-
Unrealised gains
-
Value at 31 December
-

Total investments
152,113
JM Finn dealing
account (cash)
Total investment fund (note 8)		 Equities
and
Funds
812,713.
71,479.
(188,714)
95,092.
790,570.
1,467,556.
351,572.
(191,706)
206,316.
1,833,738.
2,624,308		 Total
2021
964,654.
71,479.
(188,714)
95,264.
942,683.
1,467,556.
351,572.
(191,706)
206,316.
1,833,738.
2,776,421
(813)
2,775,608		 Fixed
Interest
138,455
105
-
13,381
151,941
-
-
-
-
-
151,941		 Equities
and
Funds
1,004,780.
104,677.
(315,519)
18,775.
812,713.
1,041,422.
156,593.
(72,775)
342,316.
1,467,556.
2,280,269.		 Total
2020
1,143,235.
104,782.
(315,519)
32,156.
964,654.
1,041,422.
156,593.
(72,775)
342,316.
1,467,556.
2,432,210.
42,993.
2,475,203

Purchases and sales of investments have been made in the year in accordance with the requirements of the Trustee Act 2000.

The JM Finn cash dealing account is included in the table to facilitate reconciliation.

8. Unrestricted and Endowment Investment Funds (including JM Finn Dealing account)

Page: 20

Unrest-
ricted
Endow-
ment
Permanent endowment
Value at 1 January
-
2,314,119
Apportioned gains
-
280,866
Value at 31 December
-
2,594,985
Investments before 1999
Value at 1 January
104,281
-
Apportioned gains
12,649
-
Value at 31 December
116,930
-
Transfers from general fund
Value at 1 January
56,803
-
Apportioned gains
6,890
-
Value at 31 December
63,693
-
Total investments
180,623
2,594,985
9. Cash at Bank and Dealing Account
General
Funds
Invest-
ment
Funds
JM Finn Dealing
Account
-
(813)
JM Finn Income and
Deposit Accounts
68,034
-
CAF Gold Deposit
Account
32,384
-
CAF Cash Current
Account
761
-
PayPal Account
284
-
Total bank balances
101,463
(813)
10. Debtors		 Total
2021
2,314,119
280,866
2,594,985
104,281
12,649
116,930
56,803
6,890
63,693
2,775,608
Total
2021
(813)
68,034
32,384
761
284
100,650		 Unrest-
ricted
-
-
-
92,263
12,018
104,281
50,257
6,546
56,803
161,084
General
Funds
-
28,302
37,501
6,873
-
72,676		 Endow-
ment
2,047,422
266,697
2,314,119
-
-
-
-
-
-
2,314,119
Invest-
ment
Funds
42,993
-
-
-
-
42,993		 Total
2020
2,047,422
266,697
2,314,119
92,263
12,018
104,281
50,257
6,546
56,803
2,475,203
Total
2020
42,993
28,302
37,501
6,873
-
115,669
Allotment rents
Total debtors		 General Funds
2021
30
**30 **		 General Funds
2020
-
-

Page: 21

11. Creditors: amounts falling due within one year

Trade creditors
Accruals
Professional fees
Total creditors		 General Funds
2021

28
1,380
1,380
1,408		 General Funds
2020
-
3,660
3,660
3,660

12. Reserves

a) 2021

a) 2021
Fund Name
General fund
Investment fund
Total funds
b) 2020
Fund Name
General fund
Investment fund
Total funds		 Balances
b/fwd
69,016
2,475,203
2,544,219
Balances
b/fwd
50,519
2,189,942
2,240,461		 Income
50,338
-
50,338
Income
45,511
-
45,511		 Expend-
iture
17,932
16,200
34,132
Expend-
iture
27,014
13,554
40,568		 Movement
between
funds
-
-
-
Movement
between
funds
-
-
-		 Gain on
invest-
ments
-
316,605
316,605
Gain on
invest-
ments
-
298,815
298,815		 Balances
c/fwd
101,422
2,775,608
2,877,030
Balances
c/fwd
69,016
2,475,203
2,544,219

Page: 22

13. Disclosure of trustee and staff remuneration, related party and other transactions

The charity has no employees.

None of the trustees received any emoluments or reimbursements of expenses in the year (or in the year ended 31 December 2020).

There have been no related party transactions and no ex-gratia payments have been made in the

Page: 23