## **TRUSTEES REPORT** ## **&** ## **FINANCIAL STATEMENTS** FOR THE YEAR ENDED ## **31 DECEMBER 2021** Page: 1 |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| Page: 2 ## 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, Page: 3 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. Page: 4 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 Page: 5 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: - Elimination of the tenant waiting list through regular reviews of both the List and neglected/unwanted plots - Refurbishment of dilapidated plots to return them to use - Active management of tree maintenance and boundaries - Improvements to the water supply, including leak detection and repair - Purchase, installation and registration of a defibrillator - Engagement with HM Probation Service for use of the site for community payback programmes. This programme has already provided greater than expected demonstrable benefits to both the allotments and to those completing their community service hours - An increase in plot rents to ensure that allotment operating costs are fully provided for, together with provision for some overdue maintenance - Reduction in direct and allocated costs of operation of the allotments by £8,000p.a. - Completion of a new site plan, including the identification and resolution of plot boundary anomalies - Comprehensive review of plot tenant records and resolution of tenancy anomalies. - Preparation of a business plan for the 2022 year - Creation and delivery of a more comprehensive introduction and documentation pack for prospective new allotment tenants - Establishment of a Tenants Advisory Group to provide both ad hoc and regular expert advice on land and tenant management issues as required Page: 6 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 Page: 7 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: - Investment income, being dividends and interest (the most significant source) - Annual Rents received from allotment tenants - Bequests and donations from donors ## 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% Page: 8 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. Page: 9 ## 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: - selecting suitable accounting policies and then applying them consistently; - observing the methods and principles in the applicable Charities’ SORP; - making judgements and accounting estimates that are reasonable and prudent; • 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; - ensuring that the accounts present financial information that is relevant, reliable, Page: 10 comparable and complete; - disclosing whether there have been any changes to accounting policies. 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. Page: 11 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**| Page: 13 ## 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 Page: 14 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**.| |---|---| Page: 15 **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**.| Page: 16 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. Page: 17 ## **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**| Page: 18 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