## **Trustees’ Annual Report for the period** **From 1[ st ] January 2023 Period start date To 31[ st ] December 2023 Period end date** ## **Charity name: Weybridge Land Charity** ## **Charity registration number: 200270** ## **Objectives and Activities** |**jectives and Activities**||| |---|---|---| ||SORP reference|| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|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 KT13, who are in need,
hardship or distress”.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and 1.19|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 utilization 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.| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|Trustees keep up with the Charity Commission advice on
public beneft. And received access to refresh training during
2023.
In 2022 / 2023, WLC introduced a Code of Conduct and
Complaints Procedure, outlining the minimum standard for
acceptable behavior for plot holders and any visitor to
Churchfelds, which has resulted in a reduced number of
complaints and issues.
WLC trustees are currently reviewing all policies. Given a
number of these were only produced in the last 2 years, this
delay doesn’t pose a major risk to the Charity.
New policies that are being drafted during early 2024 are
Social Media Policy, Data Management Policy and as part of
the annual meeting schedule established, will review on
annual basis, WLC’s compliance with the Nolan Principles| **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference |Policy on grant making|Para 1.38|In 2023, WLC simplifed its strategy and defned core areas
of focus in support of the Charity’s Object which now forms
the basis for any grant making.
We work with existing organisations who serve Weybridge
residents to make a material diference to those in need,
hardship and distress.
Our values are based on community, integrity, and making a
diference.
Our behaviours as trustees are open, honest, transparent,
supportive, collaborative, and trustworthy.
Our vision is helping to make a diference in Weybridge
whilst also ensuring Churchfelds Allotments fourishes and
operates ethically, informed by Natioanl Allotment Society
guidelines, providing allotments for Weybridge residents.
We will focus on making a diference in relation to hunger,
heating, shelter, and education.| |---|---|---| |Policy on social investment
including program related
investment|Para 1.38|The Churchfelds Allotment site is at the centre of the
Weybridge community. As well as renting out allotments of
various sizes to local residents, we are also landlords to the
Clubhouse Project (a local charity helping adults with
learning difculties) and Weybridge Men Shed and
Weybridge in Bloom. In addition, we are also engaged with
the Community Payback Programme.
Due to other priorities, WLC was unable to promote the
good work as much as planned during 2023. However we
are already doing more to promote WLCs Object and good
work to local organizations and to improve how we can
jointly collaborate and support WLC’s Object as well as
Weybridge’s residents.| |Contribution made by
volunteers|Para 1.38|All trustees are volunteers, and we value the contribution
made by our trustees and our volunteers. In addition, we
have a Tenants Advisory Group who monitor activity and
need on the allotments.
Expert advice has been sought from a number of local
supporters including
-
Financial process management advice
-
Ground management: St George’s School
and relationships and collaborations have improved and
progressed between WLC, and tenant organizations
Weybridge Men’s Shed and Weybridge in Bloom, and
WAHGA along with other organizations such as the
Community Payback Programme.| |Other||| ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|Grants from WLC were not as high as expected partly due to
difculties in identifying local needs. In some areas,
anticipated increases in the need for grants from WLC to
organizations such as Fuel Bank and Foodbank didn’t
materialise and some funds previously given to Citizen’s
Advice were not fully used and were refunded.
However, through local schools’ collaborations, other needs
were identifed (children were issued with tablet computers
and family support for food / clothes)
.
A newly established relationship with Rent Start organization
(preventing and managing homelessness) is being set up.
WLC is starting to expand points of collaboration to
understand and support areas of need in line with the
Charity’s Object e.g., written communication to local
councilors describing the areas where WLC is making a
diference and asking for input on any other areas of local
need.| ## **Additional information (optional)** You may choose to include further statements where relevant about: Para 1.41 Achievements against objectives set |||||| |---|---|---|---|---| ||||The Charity is not currently in fundraising mode|| ||Performance of fundraising|||| ||activities against objectives|Para 1.41||| ||set|||| ||||The Charity’s portfolio investment performance out -performed|| ||||The ARC Steady Growth Index while the income generated|| ||Investment performance|Para 1.41|exceeded the target of £40,000 pa.|| ||against objectives|||| ||||The rental collection from Churchfelds allotments continued|| ||Other||to be a smooth process resulting in faster rent collection than
in previous times.|| |||||| ## **Financial Review** |**ancial Review**||| |---|---|---| |Review of the charity’s
financial position at the end of
the period|Para 1.21|Income was below previous year due to lower performing
fnancial investment portfolio and returns.
Day to day operating costs remained low, however there were
signifcant “one of “items, most notably expenditure on legal
fees.
Net cash and current assets remained strongly and broadly in
line with previous years.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|The reserves policy considers the working capital required,
income reliability, normal outgoings, and potential risk of
unusual expenditure.
Due to some one-of expenses during 2023, it is felt that 2024
will give a more normalized indicator of the future run costs of
WLC. Therefore the 2024 budget will be based on a range
rather than absolute number.| |Amount of reserves held|Para 1.22|£25,000| |Reasons for holding zero
reserves|Para 1.22|N/A| |Details of fund materially in
deficit|Para 1.24|N/A| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|A review took place with the Charity’s external Fund Manager
to validate and confrm that, despite the fuctuating markets,
WLC’s fnancial position would be protected for several years
through a prudent investment approach.| ## **Additional information (optional)** You may choose to include further statements where relevant about: |||| |---|---|---| |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|Returns and income from the invested fund is the Charity’s
primary income source, along with income from Churchfelds
allotment plot holders. There have also been a small number
of voluntary donations from plot holders and local
organizations.| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|An investment strategy has been established during the latter
half of 2023 in collaboration with WLC’s fund manager. The
investment objective is to balance return between income and
capital, with a medium level of risk applied, a balanced
portfolio position, and to target circa £40,000 income per
annum with an action initiated to defne / ensure the
investment portfolio is ethical.
The portfolio performance will start being tracked against ARC
Charities Indices Performance Report as a benchmark.| |||| ||||||| |---|---|---|---|---|---| ||||A risk policy and register were put in place during 2023 and||| ||||reviewed|accordingly (and will now be reviewed going forward|| ||A description of the principal|Para 1.46|periodically).
The prime risks are:||| ||risks facing the charity||-|dependency on individual trustees for support of
Churchfelds allotments and day to day running of|| |||||the Charity. This is being de-risked by appointing a|| |||||Clerk to document and manage key processes and|| |||||by identifying work that could be undertaken by|| |||||other local organizations on behalf of WLC. There is|| |||||expected to be an increase in WLC run costs to|| |||||implement these risk mitigation activities.|| ||||-|additional running costs of the Churchfelds site|| |||||(maintenance and improvements). The site was|| |||||underinvested for many years, so expenditure has|| |||||been increased to improve it. Emergency and|| |||||planned spending has included continued repairs to|| |||||the water system, fnalized installation of new gates|| |||||to make the site more accessible, and the initiation|| |||||of a tree survey. Further site expenditure will be|| |||||required on an ongoing basis.|| ||||-|WLC’s constitution is highly complex due to several|| |||||amendments and additions being made since the|| |||||Charity was frst established. As well as being|| |||||complex to understand, in areas, the constitution|| |||||also no longer refects Charity Commission best|| |||||practice e.g., approach to remove trustees. Work|| |||||has been commissioned through a specialist law|| |||||frm to put together a revised simplifed constitution|| |||||and this will be ready for review and implemented|| |||||during early 2024.|| ||||-|The fux in the global trading markets e.g., the|| |||||impact of Russia Ukraine war, Brexit, Covid etc|| |||||have continued during 2024. This has impacted|| |||||WLC’s fnancial portfolio although the overall cash|| |||||and portfolio position remains strong.|| ||Other||||| ||||||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||| |---|---|---| |Type of governing document
(trust deed, royal charter)|Para 1.25|Trust Scheme| |How is the charity
constituted?
(e.g. unincorporated
association, CIO)|Para 1.25|Unincorporated Association| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Some time ago the Charity Scheme was amended to permit
the reduction of EBC (Elmbridge Borough Council)
Nominated Trustees from 6 to 2 Trustees, and to enable the
appointment of up to 9 Community Trustees.
WLC currently have 1 EBC Nominated Trustee. EBC did not
put forward any other nominations during the year and
advised they would review this position further in May ’24.
A new board trustee has recently been appointed based on
local collaboration relationships developed between WLC
and the local schools to determine and support areas of
need. This approachto trustee recruitment is very positive
and could pave the way for future trustees to be identifed.
Along with promoting the positive work undertaken by WLC
in the last year and the potential of what else WLC could
achieve.| |**Additional information (optional)**
Youmay choose to include further statements where relevant about:
Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
As a small volunteer-based charity, WLC previously didn’t
have a documented induction training policy for new trustees
– we are now working to the trustee induction checklist as
issued by the Charity Commission rather than creating our
own. This, combined with sharing the knowledge we have
between us as a small group of trustees, and a simplifed
constitution, means we can quickly bring new trustees up to
speed.
The charity’s organisational
structure and any wider
network with which the
charity works
Para 1.51
In the year ending 2023 we had 7 trustees:
Helen Lamb (Chair)
Vicki Macleod (Vicki Gordon Macleod)
Jackie Martin
Hilary Butler (EBC Nominated Trustee)
Carlye Case
Tim Oliver
Miriam Morris
Note:
Resignations in year:
-
Murray Law (March ’23)
-
Helen Lamb (gave notice in December ’23, leaving
end of January ’24)
Appointments in year:
-
Tim Oliver (March ’23)
-
Miriam Morris (December ’23)|**Additional information (optional)**
Youmay choose to include further statements where relevant about:
Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
As a small volunteer-based charity, WLC previously didn’t
have a documented induction training policy for new trustees
– we are now working to the trustee induction checklist as
issued by the Charity Commission rather than creating our
own. This, combined with sharing the knowledge we have
between us as a small group of trustees, and a simplifed
constitution, means we can quickly bring new trustees up to
speed.
The charity’s organisational
structure and any wider
network with which the
charity works
Para 1.51
In the year ending 2023 we had 7 trustees:
Helen Lamb (Chair)
Vicki Macleod (Vicki Gordon Macleod)
Jackie Martin
Hilary Butler (EBC Nominated Trustee)
Carlye Case
Tim Oliver
Miriam Morris
Note:
Resignations in year:
-
Murray Law (March ’23)
-
Helen Lamb (gave notice in December ’23, leaving
end of January ’24)
Appointments in year:
-
Tim Oliver (March ’23)
-
Miriam Morris (December ’23)|**Additional information (optional)**
Youmay choose to include further statements where relevant about:
Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
As a small volunteer-based charity, WLC previously didn’t
have a documented induction training policy for new trustees
– we are now working to the trustee induction checklist as
issued by the Charity Commission rather than creating our
own. This, combined with sharing the knowledge we have
between us as a small group of trustees, and a simplifed
constitution, means we can quickly bring new trustees up to
speed.
The charity’s organisational
structure and any wider
network with which the
charity works
Para 1.51
In the year ending 2023 we had 7 trustees:
Helen Lamb (Chair)
Vicki Macleod (Vicki Gordon Macleod)
Jackie Martin
Hilary Butler (EBC Nominated Trustee)
Carlye Case
Tim Oliver
Miriam Morris
Note:
Resignations in year:
-
Murray Law (March ’23)
-
Helen Lamb (gave notice in December ’23, leaving
end of January ’24)
Appointments in year:
-
Tim Oliver (March ’23)
-
Miriam Morris (December ’23)|**Additional information (optional)**
Youmay choose to include further statements where relevant about:
Policies and procedures
adopted for the induction and
training of trustees
Para 1.51
As a small volunteer-based charity, WLC previously didn’t
have a documented induction training policy for new trustees
– we are now working to the trustee induction checklist as
issued by the Charity Commission rather than creating our
own. This, combined with sharing the knowledge we have
between us as a small group of trustees, and a simplifed
constitution, means we can quickly bring new trustees up to
speed.
The charity’s organisational
structure and any wider
network with which the
charity works
Para 1.51
In the year ending 2023 we had 7 trustees:
Helen Lamb (Chair)
Vicki Macleod (Vicki Gordon Macleod)
Jackie Martin
Hilary Butler (EBC Nominated Trustee)
Carlye Case
Tim Oliver
Miriam Morris
Note:
Resignations in year:
-
Murray Law (March ’23)
-
Helen Lamb (gave notice in December ’23, leaving
end of January ’24)
Appointments in year:
-
Tim Oliver (March ’23)
-
Miriam Morris (December ’23)| |---|---|---|---| ||
Policies and procedures
adopted for the induction and
training of trustees|
Para 1.51|
As a small volunteer-based charity, WLC previously didn’t
have a documented induction training policy for new trustees
– we are now working to the trustee induction checklist as
issued by the Charity Commission rather than creating our
own. This, combined with sharing the knowledge we have
between us as a small group of trustees, and a simplifed
constitution, means we can quickly bring new trustees up to
speed.| ||The charity’s organisational
structure and any wider
network with which the
charity works|Para 1.51|In the year ending 2023 we had 7 trustees:
Helen Lamb (Chair)
Vicki Macleod (Vicki Gordon Macleod)
Jackie Martin
Hilary Butler (EBC Nominated Trustee)
Carlye Case
Tim Oliver
Miriam Morris
Note:
Resignations in year:
-
Murray Law (March ’23)
-
Helen Lamb (gave notice in December ’23, leaving
end of January ’24)
Appointments in year:
-
Tim Oliver (March ’23)
-
Miriam Morris (December ’23)| |||||Other:|| |---|---|---|---|---|---| |||||-
Carlye Case stopped being actively involved with|| |||||WLC September ’22. This position was reversed in|| |||||September ’23 following a formal request from|| |||||Carlye and it was agreed by WLC trustees (along|| |||||with legal advice) that Carlye should continue her|| |||||trustee role until the end of her current tenure|| |||||period in 2024.|| |||||Murray Law - boundary fence, allotment holder, Chair,|| |||||Weybridge Men Shed (a tenant of WLC), member of WAGHA|| ||Relationship with any related||Para 1.51|(Weybridge Allotment Holders and Gardner’s Association)
Vicki Macleod - member of WAGHA (Weybridge Allotment|| ||parties|||Holders and Gardeners Association)|| |||||Hilary Butler – Elmbridge Borough Councillor|| |||||Tim Oliver - Surrey County Councillor|| |||||Miriam Morris – Head of Manby Lodge School (one of the|| |||||benefciary schools from WLC grant giving)|| |||||A schedule of 6 meetings per annum has been established|| ||Other|||that identifes the responsibilities and activities to be covered
in each meeting. Where there are specifc topics that require|| |||||more time / focus, additional meetings are scheduled as|| |||||appropriate (and may involve a subset of trustees).|| ||**erence and Administrative details**||||| ||Charity name||Weybridge Land Charity||| ||Other name the charity uses||Weybridge Poors Land Charity||| ||Registered charity number||200270||| ||Charity’s principal address||Allotments Gate||| ||||Curzon Road||| ||||Weybridge KT13 8UN||| ||||Surrey||| ||||||| ## **Reference and Administrative details** ## **Names of the charity trustees who manage the charity** |1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for**
**whole year**|**Name of person (or body)**
**entitled to appoint trustee**
**(if any)**| |---|---|---|---|---| ||Helen Lamb|Chair||| ||
Vicki MacLeod||Switch from council
nominated to general
appointment Mar 23|| ||Hilary Butler|||Council nominated| ||Jackie Martin|||| ||Murray Law||Resigned Mar ‘23|| ||Carlye Case||Left day to day running Sept
’22, re-instated Sept ’23.|| ||Tim Oliver||Appointed Mar ‘23|| ||Miriam Morris||Appointed Dec ‘23|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| Corporate trustees – names of the directors at the date the report was approved **Director name** N/A N/A N/A Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for whole year**|| |---|---|---| |N/A|N/A|N/A| |||| |||| |||| |||| |||| ## **Funds held as custodian trustees on behalf of others** |Description of the assets held
in this capacity|N/A| |---|---| |Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects|N/A| |Details of arrangements for
safe custody and segregation
of such assets from the
charity’s own assets|N/A| ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**|**Name**|**Address**| |---|---|---| |**adviser**||| **Name of chief executive or names of senior staff members (Optional information)** N/A ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details N/A Other o NIA tional information ## **Declarations** ## **The trustees declare that they have approved the trustees’ report above.** ## **Signed on behalf of the charity’s trustees** **----- Start of picture text -----**
Signature(s)
Full name(s)
Position (e.g.
Secretary, Chair,
etc.)
Date
**----- End of picture text -----**
WL ELWNG TO WAEA tsIFFE4EtrICEII4 WEYBRIDGE LAND CHARITY REGISTERED CHARITY NUMBER 200270 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 WEYBRIDGE LAND CHARITY R egistration #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 2023. They have been prepared in accordance with the accounting policies set out on poge 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 20141, 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" Hlstory of the Charlty The Weybridge and Byf leet Enclosure Act, 1800 directed that Commissioners should set out and allot parts of the commons and waste lands in the Parish of Weybrid8e 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 allotment5. Accordingly, in 1883 a Scheme of the Charity Commissioners set aside land at the Heath at Weybrid8e 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 Charitv. 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: Provision of allotments for use by residents of Weybrid8e. 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. Page 2 WEYBRIDGE LAND CHARITY R egistrotion #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 In the year endin8 31 December 2023 we had 7 trustees.. Helen Lamb (Chairl Vicki Macleod (Vicki Gordon Macleodl Jackie Martin Hilary Butler IEBC Nominated Trusteel Carlye Case Tim Oliver Miriam Morris Resignations in year.. Murray Law (March 20231 Appointments in year: . Tim Oliver (March 20231, Miriam Morris (December 20231 Helen Lamb also gave notice in December 2023, with a view to leaving at the end of January 2024, Trustee Induction As a small volunteer-based charity, WLC previously did not have a documented induction training policy for new trustees. We are now working to the trustee induction checklist as issued by the Charity Commission rather than creating our own. This, COTnbined with sharing the knowled8e we have between us as a small group of trustees, and a simplified constitution, means we can quickly bring new trustees up to speed. 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 STA Bankers CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Fundlng of the Charity The Charity (including its grant aid programmel, is historically funded from three principal sources.. Annual Rents received frorn allotment tenants Investment income, being dividends and interest Bequests and donations from donors Page 3 WEYBRIDGE LAND CHARITY Reg istration #200270. Assets of the Charlty a. Churchf ields Allotments Located in the centre of Weybridge town, the 9.385 acres of land commonly known as the Churchfield5 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, bond5 and other investments designed to provide a level of income and capital growth. The composition of the investment portfolio is of medium risk. Permanent Endowment and Unrestrlcted Funds Historically, Trustees understood that none of the invested funds of the Charity were "restricted" This wa5 restated in the 2018 report. During 2019 the Trustees of the Charity obtained le8a1 advice to review and clarify the status of Charity Funds and Land. The main points of that advice which confirmed that the Charity's land and part of the portfolio of investments are 'Permanent Endowment" are summarised a5 follows,. The investment portfolio contains monies derived f rom four sources.. Proceeds and capital gains arisin8 from the sale of the Pine Grove Allotments in 1999 (Permanent Endowment - Restricted) Pre-existing Funds prior to the sale of Pine Grove and associated Capital Gains (Unrestricted) Funds raised and associated capital gains Iunrestrictedl Income from investments and capital gains from re-investment Iunrestrictedl. 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 land 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. Page 4 WEYBRIDGE LAND CHARITY R egislration #200270. 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 f unds raised Isee Reserve5 Policy below). At the end of 2023. these amounted to £50,90112022.' £46,663). Unrestricted funds attributable to investments held before 1999 Ithe Sale) totalled £93,44812022= £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 £144,34912022'. 132,3301. Reserves Policy The Reserve5 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 le.g., tree surgery on allotment landl. 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. Oue to some one-off expenses during 2023, it is felt that 2024 will give a more normalized indicator of the f uture run costs of WLC. Therefore the 2024 budget will be based on a range rather than absolute number. Achlevements and Performance Returns and income from the invested f und is the Charity's primary income source, along with income from Churchfields allotment plot holders. There have a150 been a small number of voluntary donations from plot holders and local organisations. The investment objective is to balance return between income and capital, with a medium level of risk applied, a balanced portfolio positian, and to target circa £40,000 income per annum with an action initiated to define / ensure the investment portfolio is ethical. The portfolio performance will start being tracked against ARC Charities Indices Performance Report as a benchmark. The Charity's portfolio investment performance out-performed the ARC Steady Growth Index during the year while the income generated exceeded the target of £40,000 per annum. Income was below previous year due to lower performing f inancial investment portfolio and returns. Day to day operating costs remained low, however there were significant "one off 'items, most notably expenditure on legal fees. Net cash and current assets remained strongly and broadly in line with previous years. A review took place with the Charity's external Fund Manager to validate and confirm that, despite the fluctuating markets, WLC'S f inancial position would be protected for several years through a prudent investment approach. Page 5 WEYBRIDGE LAND CHARITY R egistration #200270. Risk Management The trustee5 have considered and identif led the major risks to which the Charity may be exposed. Procedures are in place to review these anr)ually and to take positive measures to mitigate them. The Charity has an Insurance Policy with Zurich Insurance to cover the main risks. A risk policy and register were put in place during 2023 and reviewed accordingly land will now be reviewed going forward periodically). The prime risks identif led and the policies adopted to mitigate those risks are.. dependency on individual trustees for support of Churchfields allotments and day to day running of the Charity. This 15 being de-risked by appointing a Clerk to document and manage key processes and by identifying work that could be undertaken by other local organisations on behalf of WLC. There is expected to be an increase in WLC run costs to implement these risk mitigation activities. additional running costs of the Churchfields site Imaintenance and improvementsl. The site was u nderinvested for many years, so expenditure has been increased to improve it. Emergency and planned spending has included continued repairs to the water system, f inalized installation of new gates to make the site more accessible, and the initiation of a tree survey. Further site expenditure will be required on an ongoing basis. WLC'S constitution 15 highly complex due to several amendments and additions bein8 made since the Charity was first established. As well as being complex to understand, in areas, the constitution also no longer reflects Charity Commission best practice e.g., approach to remove trustees. Work has been commissioned throu8h a specialist law firm to put together a revised simplif led constitution and this will be ready for review and implemented during early 2024, The f lux in the global trading markets e.g., the impact of Russia Ukraine war, Brexit, Covid etc have continued during 2024. This has impacted WLC'S financial portfolio although the overall cash and portfolio position remains strong. Social Investment Programme The Churchfields Allotment site is at the centre of the Weybridge community. As well as renting out allotments of various sizes to local residents, we are also landlords to the Clubhouse Project la local charity helping adults with learning difficulties) and Weybridge Men Shed and Weybridge in Bloom. In addition, we are also engaged with the Community Payback Programme. Due to other priorities, WLC was unable to prornote the good work as much as planned during 2023. However, we are already doing more to promote WLCS Objectives and good work to local organisations and to improve how we can jointly collaborate and support WLC'S Objectives as well as Weybridge's residents. Page 6 WEYBRIDGE LAND CHARITY Reg istration #200270. Contribution made by Volunteers All trustees are volunteers, and we value the contribution made by our trustees and our volunteers. Ir) addition, we have a Tenants Advisory Group who monitor activity and need on the allotments. Expert advice has been sou8ht from a number of local supporters including Financial process management advice Ground management.. St George's School and relationships and collaborations have improved and progressed between WLC, and tenant organisations Weybridge Men's Shed and Weybridge in Bloom, and WAHGA along with other organisations such as the Community Payback Programme. Trustees, responsibillties in relation to the flnanclal 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 IFRSI applicable in the UK and the Republic of Ireland, and accounts are prepared in accordance with FRS 102 and the Statement of Recommended Practice ISORPI 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 resourtes of the charity for that period. This involves.. selecting Sultable 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 f inancial information that is relevant, reliable, comparable and complete,. disclosing whether there have been any changes to accountinE policies. 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. Page 7 WEYBRIDGE LAND CHARITr R. pgi51ri7tion #zooI.7e. Independent Examinerfs Rpport on the A¢¢ounts Report to the trustees of the chariiy on tnè accouiits for the year ended 31 December 2023 set out on pages 9 to 19. Respectlve re5pon5ibllltie5 of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The charit￿5 trustees consider that an audit is not required for t.:iis year under section 144 of the vharities Art 2011 (the Charltles Aetl and that an indepepdent exainlnation Is needed. It Is my responsibility to.. examine the accounts under sectic r, 145 of the Charities Act, to fol ow the procedure: laid drJ4Mn in the 8ener(Jl Oirertions glven by the Charity Commi55ion lunder sectiop 145151it l of the Charities Act, and to state whether parti¢ulai Inattei have coime tci my attentlon. 8•$1s of Independent 4￿mIn¥￿$ 5t•t•mt.n% My examlnatlon was carried oui in acc'jrdance with general Dlrections given by the Charity Commission. An examination includes a irtiilew of the accounting records kept by the charity and compari50n of the accounts preE ented iillth those reiords. It also iniludes cunsideratlon of anv unusual items or di5closure5 In the ai counts ind 5eekin8 explanations from the trustees concernin8 any such matters. The proce Iijres undertaken do rtot provide all the evidence that would be required in an audit, anij con5e4uently no opinion 15 1?iven as tc whether the occount5 present a 'true and fair, view and the reF.irt is limited to those rnatters sel out in the statement below. Independent Examinerfs Statement In conriectioii with my examinatiJn, rH mattp.r has come to my atteiition whlch gives me reasonable cause to btliève that IY,