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2022-12-31-accounts

Trustees’ Annual Report for the period

From 1[st] January 2022 Period start date To 31[st] December 2022 Period end date

Charity name: Weybridge Land Charity

Charity registration number: 200270

Objectives and Activities

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SORP reference
Summary of the purposes Para 1.17 The Charity has one object and two activities as
described in the Scheme as amended in June 2000:
of the charity as set out The Object of the Charity is:
in its governing “The relief of persons resident in KT13, who are in
document need, hardship or distress”.
Summary of the main Para 1.17 and The Activities of the Charity are:
1.19 “Provision of allotments for use by residents of
activities in relation to
Weybridge” and “After settling its costs of operations,
those purposes for the to use surplus funds to provide the relief of persons
public benefit, in resident in Weybridge who are in need, hardship or distress.”
particular, the activities, To increase the utilization and viability of the
projects or services allotments, an amendment to the Scheme of WLC in
identified in the 2000 removed the requirement that existing and new
allotment holders are themselves in need, hardship,
accounts. or distress.
Statement confirming Para 1.18 Trustees keep up with the Charity Commission advice
on public benefit.
whether the trustees
Trustees regularly review risk and policies. Earlier
have had regard to the this year we introduced a Code of Conduct, outlining
guidance issued by the the minimum standard for acceptable behavior for
plot holders and any visitor to Churchfields. The
Charity Commission on Charity plans to make this code an integral part of
public benefit rental agreements going forward. We also introduced
a Complaints Procedure.
In the coming year, trustees plan to build on their
group of policies and to introduce the following:
-
Bullying and Harassment Policy
-
Social Media Policy
-
Health and Safety Policy
-
Trustee Code of Conduct (including
conflicts / declaration of interests)
-
GDPR Policy (to include new relationship
with The Fuelbank Foundation, referred to
later in this document)
-
Risk Policy
Plus a review against the Nolan Principles
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Additional information (optional)

You may choose to include further statements where relevant about:

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SORP reference
WLC have entered into “Partnership Agreements”
and adopted formal “Memoranda of Understanding”
Para 1.38 (MOU) with several community groups who
Policy on grant making demonstrated expertise and capability in their work
to assist those in the KT13 area with specific needs.
Our focus has been very much on food and energy
costs and our partner organizations include the Food
Bank, Citizens Advice Bureau, and local schools. 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.
As part of our focus on rising energy costs as
mentioned above, in November 2022, WLC
connected with The Fuel Bank Foundation to explore
how the two organizations could help those most in
need in our community. An agreement was reached
to make sure that those in fuel crisis are given the
support they need through the coming winter
months. We plan to run a pilot scheme, engaging all
local state schools this coming winter / spring.
The Churchfields Allotment site is at the centre of the
Weybridge community. As well as renting out
Para 1.38 allotments of various sizes to local residents, we are
Policy on social also landlords to the Clubhouse Project (a local
charity helping adults with learning difficulties) and
investment including
Weybridge Men Shed. In addition, we are also
program related engaged with the Community Payback Program.
investment
WLC has increased its social media presence over the
last year. Our partnership with Fuelbank has given
us a positive story to tell online. We have also
engaged in community events to raise awareness of
the Charity, its initiatives, and goals.
WLC plan to develop its online presence further,
hence the need for a social media policy as
mentioned previously.
All trustees are volunteers, and we value the
contribution made by our trustees and our
Para 1.38 volunteers. In addition, we have a Tenants Advisory
Contribution made by Group who monitor activity and need on the
volunteers allotments.
The charity also has two advisors to provide extra
specialist insight to WLC board but without needing
to commit to the responsibilities of being a trustee:
Gareth Lamb
Wincent Lau
Other
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Achievements and Performance

SORP reference

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WLC continues to support local schools and
organizations including Foodbank and CAEW (Citizens
Advice Elmbridge West). Our greatest achievement
this year has been to form a partnership with The
Summary of the main Fuelbank Foundation. FBF have been really positive
Para 1.20 and supportive regarding the already established
achievements of the
model of support in our area (i.e. partnership with
charity, identifying the schools) that they have not only committed to
difference the charity’s partnering with us but have offered to fund payments to those in fuel crisis in KT13.
work has made to the
circumstances of its Our relationship with schools was of particular interest
beneficiaries and any to The Fuelbank Foundation, as it represents a new
wider benefits to society way of working for them that isn’t currently in place anywhere else. They were also keen on partnering
as a whole. with our Charity as, while they are very active in more
deprived areas in the UK, they are keen to also help in
areas of seemingly high wealth but where there are
people at risk of being in fuel crisis
In April 2022 WLC made a grant of £10,000 to Citizens
Advice Elmbridge West (CAEW) to enable CAEW to
pilot an outreach service in Weybridge. The particular
focus funded by WLC is services to people with
complex needs in KT13. The pilot started in September
2022 and will report in July 2023. This was identified as
a project to improve access to CAEW services and
advice for Weybridge residents with complex needs.
The CAEW office is in a neighboring town which
presents a barrier to access to services for Weybridge
residents.
The Charity also continued to provide support for fresh
food at Christmas to families at local schools along
with access to funds for emergency essential
purchases such as school uniforms.
The Charity has experienced challenges with
beneficiaries understanding what is required to report
back on as to how and when funding has been used.
Efforts are being made by the Charity to simplify the
approach, make use of a template, and spend longer
explaining this before any funds are issued.
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Additional information (optional)

You may choose to include further statements where relevant about:

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See above. This was an unexpected achievement and
has also paved the way for an even greater connection
with our local schools.
Para 1.41 We have also increased our social media presence in
Achievements against the last year, making use of already established local
Facebook Groups and have revamped and relaunched
objectives set our website.
The Charity is not currently in fundraising mode
Performance of
fundraising activities Para 1.41
against objectives set
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The Charity’s investment performance, under-
performed versus the set target annual return of
investments of £50,000 with a performance of
Investment performance Para 1.41 £30,967. The previous year also under-performed
versus target. It’s recognised there were significant
against objectives
global financial market fluctuations which impacted
trading and returns, (impact of Covid reduced however
impact of Russia – Ukraine was extreme). A review to
understand whether the £50,000 target for FY23 is
feasible will take place.
The Charity continued with a low cost of running with
the stand out cost item being legal fees relating to the
closure of the onsite trading shop previously being run
by WAHGA (WAHGA initiated legal proceedings against
WLC to which WLC had to respond. WAHGA
subsequently withdrew the proceedings.
Cash collection from Churchfields allotments increased
in speed and the ability to track income and spend
Other
also improved during FY22. This resulted from WLC
taking direct ownership of these matters and making a
significant number of process improvements.
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Financial Review

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Review of the charity’s Para 1.21 Income was below previous year due to lower
performing financial investment portfolio and returns.
financial position at the Day to day operating costs remained low, however
there were significant “one off “items, most notably
end of the period
expenditure on legal fees.
Net cash and current assets remained strongly and
broadly in line with previous years.
Grants from WLC were not as high as expected partly
due to difficulties in identifying local need. However an
anticipated increase in the need for donations from
WLC to organisations such as Foodbank in the second
half of the year didn’t materialise. The trustees believe
this resulted from the introduction of government
grants and subsidies.
Statement explaining the Para 1.22 The reserves policy takes into account the working
capital required, income reliability, normal outgoings,
policy for holding reserves and potential risk of unusual expenditure.
stating why they are held
Amount of reserves held Para 1.22 £25,000
Reasons for holding zero Para 1.22 N/A
reserves
Details of fund materially Para 1.24 N/A
in deficit
Explanation of any Para 1.23 A review took place with Michael Barlow, Fund
Manager at JM Finn, to validate and confirm that,
uncertainties about the
despite the fluctuating markets, WLC’s financial
charity continuing as a position would be protected for a number of years
going concern through a low risk investment approach.
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Additional information (optional)

You may choose to include further statements where relevant about:

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Returns and income from the invested fund is the
Charity’s primary income source, along with income
from Churchfields allotment plot holders.
The charity’s principal Para 1.47
sources of funds
(including any
fundraising)
Low risk approach held to market trading and
investments. The financial investment portfolio is
balanced across geographies, industries, and asset
Investment policy and classes.
objectives including any Para 1.46
social investment policy
adopted
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Additional costs of running Churchfields (maintenance
and improvements) – the site was underinvested for a
number of years so expenditure has been increased to
A description of the Para 1.46 improve it. Emergency and planned spending including
principal risks facing the a number issues including repairs to the water system
and installation of new gates to make the site more
charity accessible. Further site expenditure will be required on
an ongoing basis. Secondly, the small number of
trustees involved in running the Charity may mean
additional costs could be incurred to bring in external
expertise.
Continued market fluctuations create a risk to the level
of returns generated by the investment fund.
Other
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Structure, Governance and Management

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Description of charity’s
trusts:
Type of governing Para 1.25 Trust Scheme
document
(trust deed, royal
charter)
How is the charity Para 1.25 Unincorporated Association
constituted?
(e.g. unincorporated
association, CIO)
Trustee selection Para 1.25 Some time ago the Charity Scheme was amended to
permit the reduction of EBC (Elmbridge Borough
methods including details Council) Nominated Trustees from 6 to 2 Trustees,
of any constitutional and to enable the appointment of up to 9 Community
provisions e.g. election to Trustees.
We currently have 2 EBC Nominated Trustees. We are
post or name of any also actively inviting applications for trusteeships
person or body entitled from the local community (via social media). Earlier
to appoint one or more in the year we interviewed 3 people who were
interested in becoming trustees. As a result 2 were
trustees asked to join the board. They both declined (as
referred to previously) due to time restrictions but we
are grateful that they have taken on advisory roles
and remain connected to the Charity.
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Additional information (optional)

You may choose to include further statements where relevant about:

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As a small charity, we don’t have a documented
induction training policy for new trustees. We are
confident that the knowledge we have between us
means that we can bring new trustees up to speed
Policies and procedures Para 1.51 very quickly.
adopted for the induction
and training of trustees
In the year ending 2022 we had 5 trustees:
Helen Lamb (Chair)
Vicki Macleod (Vicki Gordon Macleod)
The charity’s Murray Law (resigned March 23)
organisational structure Para 1.51 Jackie Martin
Hilary Butler (EBC Nominated Trustee)
and any wider network Resignations in year: Carlye Case and Steve Fuller
with which the charity Resignations 2023: Murray Law
works Appointments 2023: Tim Oliver
Murray Law - boundary fence, allotment holder,
Chair, Weybridge Men Shed (a tenant of WLC),
member of WAGHA (Weybridge Allotment Holders
Relationship with any Para 1.51 and Gardner’s Association)
related parties Vicki Macleod - member of WAGHA (Weybridge
Allotment Holders and Gardeners Association)
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This year trustees met formally on a monthly basis, both in person and when necessary, online. Our aim Other going forward is to have 4 formal meetings per year, and work to a pre-determined meeting and agenda structure.

Reference and Administrative details

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Charity name Weybridge Land Charity
Other name the charity Weybridge Poors Land Charity
uses
Registered charity 200270
number
Charity’s principal Allotments Gate
address Curzon Road
Weybridge KT13 8UN
Surrey
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Names of the charity trustees who manage the charity
Name of person (or
Dates acted if not
Trustee name Office (if any) body) entitled to
for whole year
appoint trustee (if any)
1 Helen Lamb Chair
2 Vicki MacLeod Council nominated
3 Hilary Butler Appointed June ‘22 Council nominated
4 Jackie Martin
5 Murray Law Resigned Mar ‘23
6 Carlye Case Resigned Sept ‘22
7 Tim Oliver Appointed Mar ‘23
8
9
10
11
12
13
14
15
16
17
18
19
20
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Corporate trustees – names of the directors at the date the report was approved

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Director name
N/A N/A N/A
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Name of trustees holding title to property belonging to the charity

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Trustee name Dates acted if not for whole
year
N/A N/A N/A
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Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

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Type of Name Address
adviser
Name of chief executive or names of senior staff members (Optional
information)
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Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other o tional information

Declarations

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The trustees declare that they have approved the trustees’
report above.
Signed on behalf of the charity’s trustees
Signature(s)
Full name(s)
Position (e.g.
Secretary, Chair,
etc.)
Date
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WEYBRIDGE LAND CHARITY

REGISTERED CHARITY NUMBER 200270

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE

YEAR ENDED 31 DECEMBER 2022

WEYBRIDGE LAND CHARITY Registration #200270 .

TRUSTEES’ REPORT

The trustees are pleased to present their annual report and the independently examined financial statements of the charity for the year ended 31 December 2022. They have been prepared in accordance with the accounting policies set out on page 13 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 their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland.

The registered name of the charity is the ‘Weybridge Poor’s Land’ charity, but its working name is now the ‘Weybridge Land Charity’, in preference to the short form “Weybridge Charity”

History of the Charity

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 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 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 land at Pine Grove to the Charity.

The Charity is still regulated by the scheme dated 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 invested to provide an income to support the Charity’s "objects".

Object of the 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 are:

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WEYBRIDGE LAND CHARITY Registration #200270 .

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

Trustees and Administration

Prior to 2021 the Charity had a permitted establishment of 11 Trustees: a maximum of 6 to be nominated by Elmbridge Borough Council (EBC) and up to 5 representatives of the Weybridge Community with relevant expertise and local knowledge to be co-opted by the other Trustees. On 12 November 2021, the Charity Scheme was further amended to permit the reduction of EBC Nominated Trustees from 6 to 2 Trustees and to enable the appointment of up to 9 Community Trustees.

During the 2022 year the Trustees of the Charity were:

EBC Nominated Trustees

Mrs Vicki Macleod

Mrs Hilary Butler (appointed June 2022)

Co-Opted Community Trustees

Mrs Carlye Case (resigned September 2022)

Mrs Helen Lamb (Chair)

Mr Murray Law

Mr Stephen Fuller (resigned February 2022)

Mrs Jackie Martin

Mr Murray Law resigned as a Trustee in March 2023.

The long-standing Agency Agreement with WAHGA (Weybridge Allotment Holders & Gardeners Association) was terminated in in 2021. Under this agreement, WAHGA undertook various tasks for the Charity, such as collection of rents, recruitment of new plot tenants and certain maintenance tasks. Weybridge Land Charity has assumed direct responsibility for these tasks. The onsite allotment trading shop managed by WAGHA also ceased activities in 2022.

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WEYBRIDGE LAND CHARITY Registration #200270 .

Independent examiner

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

Bankers

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

Funding of the Charity

The Charity (including its grant aid programme), is historically funded 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. Part of the brief to the Fund Manager includes achievement of an annual income not less than £50,000 per annum. In 2022, the investment income was £30,967, a reduction on the previous year because of the impact of world events and the overall volatility in global stock markets. At year end 2022 the assessed value of the investment fund was £2,033,500 in comparison to £2,775,608 at year end 2022 creating a return of -26.7% (2021: +12.1% before fees).

Permanent Endowment and Unrestricted Funds

Historically, Trustees understood that none of the invested funds of the Charity were “restricted”. This was restated in the 2018 report.

During 2019 the Trustees of the Charity obtained legal advice to review and clarify the status of Charity Funds and Land. The main points of that advice which confirmed that the

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WEYBRIDGE LAND CHARITY Registration #200270 .

Charity’s land and part of the portfolio of investments are “Permanent Endowment” are summarised as follows:

  1. The investment portfolio contains monies derived from four sources:

  2. a. Proceeds and capital gains arising from the sale of the Pine Grove Allotments in 1999 (Permanent Endowment - Restricted)

  3. b. Pre-existing Funds prior to the sale of Pine Grove and associated Capital Gains (Unrestricted)

  4. c. Funds raised and associated capital gains (Unrestricted)

  5. d. Income from investments and capital gains from re-investment (Unrestricted).

  6. Land which is a permanent endowment cannot be sold without an order from the Charities Commission, as occurred on the occasion of the sale of the Pine Grove site. In accordance with the terms of the order for that sale, the proceeds from the Pine Grove site were to be invested. These investments are considered to be "investment permanent endowment”.

As was the norm for accountancy practice at the time, only the income from that investment (and not any element of Capital Gains) can be drawn on to meet the costs and objects of the Charity.

Subsequent to the legal advice, the element of Unrestricted Funds has been identified in the investment portfolio, and the detail of the methodology shared with the Charity Commission. The request of the Charity Commission is that the split between Unrestricted Funds and Restricted Funds appears in the annual return; and this is shown in note 8 of the Statement of Financial Activities.

The practice has been that additions to, and withdrawals from, the unrestricted funds in the investment portfolio provide a longer-term approach to holding monies attributable to income and other funds raised (see Reserves Policy below).

At the end of 2022, these amounted to £46,663. Unrestricted funds attributable to investments held before 1999 (the Sale) totalled £85,667, 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 £132,330.

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 expenditure (e.g., tree surgery on allotment land).

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WEYBRIDGE LAND CHARITY Registration #200270 .

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

On this basis, a nominal reserve of £25,000 is set, to be held within the "Unrestricted Investment Fund”, and is reviewed annually.

Market Update

The financial performance of many charities started to improve in the early part of FY22, however the Russian invasion of Ukraine in February 2022 negatively impacted global markets. This plus other political events impacted the UK economy resulting in significant inflationary increases in food and energy prices.

WLC decided mid-year FY22 to minimize spend and hold available funds for emergency needs which were expected to increase significantly during the remainder of the year. However, the introduction of Government subsidies and grants mitigated these needs. More importantly, it became apparent that people in genuine need were not visible and difficult to identify within the Weybridge community. Efforts to address this commenced in FY22 with the engagement of Fuel Bank to establish a pilot partnering arrangement. A review of where WLC should offer financial support via investments and emergency giving has now been initiated.

Risk Management

The trustees have considered and identified the major risks to which the Charity may be exposed. Procedures are in place to review these annually and to take positive measures to mitigate them. The Charity has an Insurance Policy with Zurich Insurance to cover the main risks.

Trustees’ responsibilities in relation to the financial statements

The charity’s 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.

The charity’s 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:

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WEYBRIDGE LAND CHARITY Registration #200270 .

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

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WEYBRIDGE LAND CHARITY Registration #200270 .

Independent Examiner’s Report on the Accounts

Report to the trustees of the charity on the accounts for the year ended 31 December 2022 set out on pages 9 to 19.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect, the requirements:

Signed:
Name:
Relevant professional
qualification(s) or body (if any):
Address:		 Date:
Andrew Gadoros
FCA
ABG Accountancy
The Quadrant Centre
Limes Road, Weybridge
Surrey, KT13 8DH

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WEYBRIDGE LAND CHARITY Registration #200270 .

Statement of Financial Activities for the year ending 31 December 2022
Note
General
Funds
Invest-
ment
Funds
Total
Funds
2022
General
Funds
Invest-
ment
Funds
Income
Charitable activities
2
11,404
-
11,404.
9,671
-
Donations received
1,252
-
1,252.
933
-
Investments
3
31,071
-
31,071.
39,734
-
Total income
43,727
-
43,727.
50,338
-
Expenditure
Charitable activities
4
36,394
13,689
50,083.
17,932
16,200
Total Expenditure
36,394
13,689
50,083.
17,932
16,200
Net revenue /
(expenditure)
7,333
(13,689)
(6,356)
32,406
(16,200)
Net (losses)/ gains
on investments
5
-
(728,419)
(728,419)
-
316,605
Net movement in
funds for the year
7,333
(742,108)
(734,775)
32,406
300,405
Funds b/fwd
101,422
2,775,608
2,877,030.
69,016
2,475,203
Transfer between funds
-
-
-.
-
-
Funds c/fwd
108,755
2,033,500
2,142,255.
101,422
2,775,608		 Statement of Financial Activities for the year ending 31 December 2022
Note
General
Funds
Invest-
ment
Funds
Total
Funds
2022
General
Funds
Invest-
ment
Funds
Income
Charitable activities
2
11,404
-
11,404.
9,671
-
Donations received
1,252
-
1,252.
933
-
Investments
3
31,071
-
31,071.
39,734
-
Total income
43,727
-
43,727.
50,338
-
Expenditure
Charitable activities
4
36,394
13,689
50,083.
17,932
16,200
Total Expenditure
36,394
13,689
50,083.
17,932
16,200
Net revenue /
(expenditure)
7,333
(13,689)
(6,356)
32,406
(16,200)
Net (losses)/ gains
on investments
5
-
(728,419)
(728,419)
-
316,605
Net movement in
funds for the year
7,333
(742,108)
(734,775)
32,406
300,405
Funds b/fwd
101,422
2,775,608
2,877,030.
69,016
2,475,203
Transfer between funds
-
-
-.
-
-
Funds c/fwd
108,755
2,033,500
2,142,255.
101,422
2,775,608		 Statement of Financial Activities for the year ending 31 December 2022
Note
General
Funds
Invest-
ment
Funds
Total
Funds
2022
General
Funds
Invest-
ment
Funds
Income
Charitable activities
2
11,404
-
11,404.
9,671
-
Donations received
1,252
-
1,252.
933
-
Investments
3
31,071
-
31,071.
39,734
-
Total income
43,727
-
43,727.
50,338
-
Expenditure
Charitable activities
4
36,394
13,689
50,083.
17,932
16,200
Total Expenditure
36,394
13,689
50,083.
17,932
16,200
Net revenue /
(expenditure)
7,333
(13,689)
(6,356)
32,406
(16,200)
Net (losses)/ gains
on investments
5
-
(728,419)
(728,419)
-
316,605
Net movement in
funds for the year
7,333
(742,108)
(734,775)
32,406
300,405
Funds b/fwd
101,422
2,775,608
2,877,030.
69,016
2,475,203
Transfer between funds
-
-
-.
-
-
Funds c/fwd
108,755
2,033,500
2,142,255.
101,422
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
101,422 2,775,608

Page 9

WEYBRIDGE LAND CHARITY Registration #200270 .

Balance Sheet for the year ended 31 December 2022

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
11,727
-
11,727
69,003
29,669
66
98,738
(1,710)
97,028
108,755		 Invest-
ment
Funds
-
2,026,900
2,026,900
6,600
-
-
6,600
-
6,600
2,033,500		 Total
Funds
2022
11,727
2,026,900
2,038,627
75,603
29,669
66
105,338
(1,710)
103,628
2,142,255		 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
(813)
-
-
(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

Approved by the trustees on …………………………….. and signed on their behalf by;

…………………………………………..,

Chairman of the trustees, Weybridge Land Charity

Page 10

WEYBRIDGE LAND CHARITY Registration #200270 .

Statement of cash flows for the year ended 31 December 2022

Statement of cash flows for the year ended 31 December 2022
General
Funds
Investment
Funds
Cash flows from operating activities:
Net cash used in operating activities
11,508.
(11,417)
Cash flows from investing activities
Proceeds from sale of investments
-.
142,269.
Purchases of investments
-.
(123,439)
Net cash provided by investing activities
-.
18,830.
Tangible fixed assets purchased
(14,299)
-
Change in cash and cash equivalents in the year
(2,791)
7,413.
Cash and cash equivalents at the beginning of
the year
101,463.
(813)
Cash and cash equivalents at the end of the year
98,672.
6,600.
Reconciliation of net expenditure to net cash flow from operating activities
General
Funds
Investment
Funds
Net income per the statement of financial
resources
7,333.
(742,108)
Adjustments for:
Losses on investments
-.
730,691.
7,333.
(11,417)
Increase in debtors
(36)
-.
Increase in creditors
302.
-.
Depreciation
3,909.
-.
Net cash used in operating activities
11,508.
(11,417)		 Total Funds
2022
91.
142,269.
(123,439)
18,830.
(14,299)
4,622.
100,650.
105,272.
Total Funds
2022
(734,775)
730,691.
(4,084)
(36)
302.
3,909.
91.

Page 11

WEYBRIDGE LAND CHARITY Registration #200270 .

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 provided 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)		 General
Funds
30,569.
-
-
-
(1,782)
28,787.
72,676.
101,463.		 Investment
Funds
(16,200)
395,445.
(423,051)
(27,606)
-
(43,806)
42,993.
(813)		 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 12

WEYBRIDGE LAND CHARITY Registration #200270 .

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.

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

Page 13

WEYBRIDGE LAND CHARITY Registration #200270 .

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		 2022
30,967
104
31,071		 2021
39,730
4
39,734

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
10,400
-
13,178		 Invest-
ment
Funds
-
-
-		 Total
Funds
2022
10,400
-
13,178		 General
Funds
7,882
1,009
4,947		 Invest-
ment
Funds
-
-
-		 Total
Funds
2021
7,882
1,009
4,947
23,578
4,236
-
1,440
250
319
2,662
3,909
12,816
36,394		 -
-
13,689
-
-
-
-
-
13,689
13,689		 23,578
4,236
13,689
1,440
250
319
2,662
3,909
26,505
50,083		 13,838
864
-
1,260
236
316
973
445
4,094
17,932		 -
-
16,200
-
-
-
-
-
16,200
16,200		 13,838
864
16,200
1,260
236
316
973
445
20,294
34,132

Expenditure is recorded on an accruals basis.

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

Page 14

WEYBRIDGE LAND CHARITY Registration #200270 .

5. Net gains on investments

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
(losses) / gains (UK
quoted)
Other investments
Market value at
1 January
Additions
Disposals
Market value at
31 December
Unrealised investment
(losses) / gains (other)
Total unrealised
investment (losses)
/ gains
Total net (losses) /
gains on investments		 Fixed
Interest
(85,777)
-.
64,624.
(21,153)
152,113.
91,497.
(88,048)
155,562.
137,493.
(18,069)
-.
-.
-.
-.
-.
-.
(18,069)
(39,222)		 Equities
and Funds
(97,523)
(610)
77,645
(20,488)
790,570.
-.
(56,863)
733,707.
613,446.
(120,261)
1,833,738.
31,942.
(41,271)
1,824,409.
1,275,961.
(548,448)
(668,709)
(689,197)		 Total
2022
(183,300)
(610)
142,269
(41,641)
942,683.
91,497.
(144,911)
889,269.
750,939.
(138,330)
1,833,738.
31,942.
(41,271)
1,824,409.
1,275,961
(548,448)
(686,778)
(728,419)		 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. **

Page 15

WEYBRIDGE LAND CHARITY Registration #200270 .

6 Fixed assets

ssets
Equipment
Cost
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		 2022
1,782
14,299
16,081
445
3,909
4,354
11,727
1,337

7. Investment Fund

Fixed
Interest
UK quoted investments
Value at 1 January
152,113.
Additions
91,497.
Disposals
(88,048)
Unrealised (losses) /
gains
(18,069)
Value at 31 December
137,493.
Other investments
Value at 1 January
-
Additions
-
Disposals
-
Unrealised (losses) /
gains
-
Value at 31 December
-
Total investments
137,493
JM Finn dealing
account (cash)
Total investment fund (note 8)		 Equities
and Funds
790,570.
-.
(56,863)
(120,261)
613,446.
1,833,738.
31,942.
(41,271)
(548,448)
1,275,961.
1,889,407.		 Total
2022
942,683.
91,497.
(144,911)
(138,330)
750,939.
1,833,738.
31,942.
(41,271)
(548,448)
1,275,961.
2,026,900.
6,600.
2,033,500		 Fixed
Interest
151,941
-
-
172
152,113
-
-
-
-
-
152,113		 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

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.

Page 16

WEYBRIDGE LAND CHARITY Registration #200270 .

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

Unrest-
ricted
Permanent endowment
Value at 1 January
-
Apportioned (losses) /
gains
-
Value at 31 December
-
Investments before 1999
Value at 1 January
116,930.
Apportioned (losses) /
gains
(31,263)
Value at 31 December
85,667
Transfers from general fund
Value at 1 January
63,693.
Apportioned (losses) /
gains
(17,030)
Value at 31 December
46,663.
Total investments
132,330.		 Endow-
ment
2,594,985.
(693,815)
1,901,170.
-
-
-
-
-
-
1,901,170		 Total
2022
2,594,985.
(693,815)
1,901,170.
116,930.
(31,263)
85,667
63,693.
(17,030)
46,663.
2,033,500.		 Unrest-
ricted
-
-
-
104,281
12,649
116,930
56,803
6,890
63,693
180,623		 Endow-
ment
2,314,119
280,866
2,594,985
-
-
-
-
-
-
2,594,985		 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

9. Cash at Bank and Dealing Account

JM Finn Dealing Account
JM Finn Income and
Deposit Accounts
CAF Gold Deposit
Account
CAF Cash Current
Account
PayPal Account
Total bank balances		 General
Funds
-
69,003
27,935
947
787
98,672		 Invest-
ment
Funds
6,600
-
-
-
-
6,600		 Total
2022
6,600
69,003
27,935
947
787
105,272		 General
Funds
-
68,034
32,384
761
284
101,463		 Invest-
ment
Funds
(813)
-
-
-
-
(813)		 Total
2021
(813)
68,034.
32,384.
761.
284.
100,650.

10. Debtors

Allotment rents
Total debtors		 General Funds
2022

66
66		 General Funds
2021
30
30

Page 17

WEYBRIDGE LAND CHARITY Registration #200270 .

11. Creditors: amounts falling due within one year

Trade creditors
Accruals
Professional fees
Total creditors		 General Funds
2022

270
1,440
1,440
1,710		 General Funds
2021
28
1,380
1,380
1,408

12. Reserves

a) 2022

Fund Name
General fund
Investment fund
Total funds
b) 2021
Fund Name
General fund
Investment fund
Total funds		 Balances
b/fwd
101,422
2,775,608
2,877,030
Balances
b/fwd
69,016
2,475,203
2,544,219		 Income
43,727
-
43,727
Income
50,338
-
50,338		 Expend-
iture
(36,394)
(13,689)
(50,083)
Expend-
iture
(17,932)
(16,200)
(34,132		 Movement
between
funds
-
-
-
Movement
between
funds
-
-
-		 Loss on
invest-
ments
-
(728,419)
(728,419)
Gain on
invest-
ments
-
316,605
316,605		 Balances
c/fwd
108,755
2,033,500
2,142,255
Balances
c/fwd
101,422
2,775,608
2,877,030

Page 18

WEYBRIDGE LAND CHARITY Registration #200270 .

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 2021).

There have been no related party transactions and no ex-gratia payments have been made in the year (or in the year to 31 December 2021).

Page 19

WEYBRIDGE LAND CHARITY Registration #200270. Independent Examinerfs Report on the Accounts Report to the trustees of the charity on the accounts for the year ended 31 December 2022 set out on pages 9 to 19. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts under section 145 of the Charitie5 Act, to follow the procedures laid down in the general Directions given by the Charitv Commission (under section 14515llbl of the Charities Act, and to State whether particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in accordance with general Directions given by the Charitv Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the account5 presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and corisequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent Examinerf5 Statement In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect, the requirernents.. to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met,. or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed.. Date: N3me'. Andrew Gadoros Relevant professional qualificationlsl or body lif any).. FCA Address.. A8G Accountancy The Quadrant Centre Limes Road, Weybridge Surrey. KT13 8DH Page 8