Chartty registration number. 202804 Great Torrington Commons Conservancy (Common Lands) Annual RerNJrt and Flnanclal Statements for the Year Ended 31 Marth 2024 WESTCOTTS CHAR7EItED ACCOUNTANTS • IU51ME$S ADVISS*S
Great Torrlngton Commons Conservancy (Common Lands) Contents (Contlnuod) Referen¢• and Admlnlstralv8 Detalis TnJstees' Report 2toS lThJependgnt Examlnoffs Roport Statement of Fina[la1 AGtMties Balance Sheet Notes to th8 Finandal Stslements 9t020
Great Torrington Commons Conservancy (Common Lands) Reference and Adminlstratlve Detalls Trustees: Jennifèr Amanda Harrbon Susan craeY (reslgned 30 Sept8rnber 20231 Gerry Dufy Ron William Tucker lappolnted 20 September 2023 and resigned 9 May 2024) Carolyn LarC (appointed 21 June 2023) Adam Klrby Androw Giles David Nudd Sue Clark8 Charlty Regl8tratlon Numbor 202804 Prlnclpal Ornco 25 South Straet Torrlngton Devon EX38 8AA Indop•nd•nl Examlner Westcotts ISW) LLP 47 Boutport Street Bamstapl Devon EX311SQ
Great Torrlngton Commons Conservancy (Common Lands) Trustees. Report The trustees present the annual report together wllh the finanaal stat•m&nts of the charity for th8 year erkled 31 March 2024. structure. govèrnance and management Gov•rnlng document The charlty was formed by The Great Tothngion Commons Act 1889 (the Act) and Standlng Order5. Organisallon managofflent The tharity is run by the Truste68 comprlslng of 8 board of no more Ihan fifteen trus conservators. Conserrfators that are elect8d must reside the Parish of Great Tothngton. must b8 nomlnat8d and seconded by parishioners reglstered on the electoral role. ond are elected by pubFic ballot every thRe years. Where fewer than fifteen candldates are properly nominated there Is no public ballot. The board elects a Chairman and Vlce chairnn from amongst thelr number at the Annual General Meelng each May. The board meets formally each month to rev16w and deckle upon routine a¢tiwties. Fomwl resolutions for strategic and slgnificant decFsions are rals8d by c(SeNatOrS providing $evon notice prror to tho meeting. Conservators act In a voluntary capacity and may not be eMOyed In a pald posltlon ty tho b)ard as well. Thè board engages a small numbw of paid staff, induding the Cl8rk and the TreasuTrr, to undertake its business and nar181 affairs and the dat¢aY maintsnance of the Commons. In additlon io the Slanding Orders. the Ix)ard manages its affairs with reference to the By&Laws of Great Torrlngton Commons as approved by the Department for Environmert Food 8nd Rural Affairs. and has adopted Financial Regulations. Rlsk manag•mont The Trustees nSider risk as part of thelr regular Meetings, taking Into account the size of the risk, Its tential Impact and the likelihood of It occurring. Steps arg takon to mliigate risks where 1$ practlcal and possible. Objectives and actlvlllos The maln aims and objectives of the Conservators are". 11 To protect and preserv8 th8 natural environment of th8 Commons to encourage dlverse flora and fauna consl818nt its place as an Important habltat wlthin North Devon 8iosphÈré Reserve. i ) To provido a natural1gi$ure resource for the benefft of the resldents of Torrligton and visitors to the The Conservators, princlpal actfvitth are conslstent ¥th those conGeming the st8wardshlp of a large countryside estate (365 acres in our casel arKI tWcally indude ujtting, dearing, Flanting. control of invasive specie8 and w8tercourse management to preserve a mixed landscap9 e$5entially of open grasslands, thfjld IIow8r meadows, mixed wo¢)dland. hedgerows. rlver, loke and stream. Tha ConseNator8 tIS provlde and preseNe a natural tranqul enwronmenl for walking. relaxation and healthy acllvlty. We malntaln and repair a nolwork of pathways so that th8 wbiic may enjoy gc#)d 8e£ess to all parts of th8 C¢]mmons. Page 2
Great Torrington Commons Consorvancy (Common Lands) Trustees. Report (contlnuad) Thg Conservators are required under the Act to def8nd the protseted Common from unauthorised 8nd 'unlawful' advlties. from dog-fouling and Ilttering to 8ncroa¢hment across our boundarles. It follows that much of our attention is ¢oncemed with clearing, d•aniry and prev&nting and also. for exampl6. d8aling wlth th8 impact of adjacenl planning apt4ications. demands for access and liemslng. In line wlth our remit to facllltale Igisure activiiias, the Conservatots p8rffl use of a part of thg Commons to enhance the scope of the local golf course, wlhin strict limitations to protscl th8 environment and with guarantees of ac¢es8. We also provlde and maintaln an open space for pi¢ni¢s and publlc events and a children's play aa vAlh varied play apparatus. During the summer months. the Conservators operate a popar car boot moming each week which helps to providg n¢ces$ary nds. Public benofft The trustees confimi that they have complied wlth the requlrements of section 17 of the Charttl8s Act 2011 to have due regard to the Publ b8nefft guldance published by the Charlty Commisslon for EThJland and Wales. Achlevem•nts and perfom)ance A great doal has been achieved by the trustses and staff of Great Torrlngton Commons this year. With th8 support of the Devon Wlldlife Trust and Natural England. during 2023 the Great Torrington Commons ConseNators drew up and Submltted a funding application to thg Govemmenys Rural Payments Agency. The purpose 18 to Increase the biodrv8rslty of th8 Common$ meadows. protecL and enhance the remaining grassland parcds and preveTrt thelr reverslon to vCjIaJ. Maintslnlng Torrington Commons currentty c08ts some £70,000 per annum, for which the Commons ConseNators rety upon grant in¢ome and charitabl8 donatlons. Startlng in 2024. the Rural Payment Agency has agreed to contribute over £6.000 annually towards conservirrfJ the nature of Torrington Common8 and its wildllfe. for the nexi 10 years. The Agency also agreed to capital grants towards hay cutting, tha plantlng of wdflOWer plugs in Reeds Fleld and Clarkes Meadow. harrowing and wildfiower seed spreading in Tanton's Plain. Funds have also been agreed to 8nable the ConseNators commence restoration of Ihe Wated(M) Monument on Castle Hlll. In additlon to this we have opened our second-hand book shop at Dartinglon crtal In a space next to the PaViln Café whlth had been empty for a few years. From September we started to fill the shop wilh books. Firsdy, from the Car Boot storage unli and then from the hundreds of generous donations from FeOFle frcth and around Torrington. D8rtington Cry8tal have been very supporknve. providing th8 spaco ront free go all of the money raised go8s towards the everyday costs of lookin9 after your Commons. At the time of writing. the shop has ralsed £2,550. Thls is on top of the money rais•d by our regular car boot sales, and our stalls at varlous events around Torrlngton. The Torrlngton Commons 365 SupFQrters group is still growing and ralses around £4.500 a yEar. Detals about the benefits and how to join this inibalbV8 ¢8n be fjnd in the Crler and our website. The Friends of the Commons conlnue to do a fantastic job litter picklng and keeping the Common8 looklng wonderful. We aro also very grateful to everyone who helps out on stalls or th malntenance the slgns have all b88n cloaned and repainted reCenY by or of our volunteers. Th8re are a numbar of events Fdanrth on the Old Bowling Greon over the Summer ilUdI1g the C8valie¢s Fun Day. Kg Focus Dog Show. The Torrin9ton Music Festlval and The Plough ChldM's Plcnic. Page 3
Great Torrington Commons ConseNancy (Common Lands) Trustoes. Report (continued) The Dlg The Castle event on the Commons at Barfey Grove, organised by Archaeologlsts Engage and Great Torrington Futures Group. took place in the Autumn 2023 and was a great success, with many visitors to the sile from near and far. This project was put In FAace for Iwo reasons. to engage th• communty in this unusual activity. and to strengthen th8 town's knowledge about its heritage arKI e$pe¢ialy its Ca$e. When the finds have been ccdlated and recorded profe5sk)n811y and the necessary reports written, there are plans to h8ve an open event in the to display some of the artefacts found and relay th8 reports Infornation ab(Mrt the slte. We continue to monitor and engage Vth any plannlrKJ applutlons and developments thal may impact on the Commons. Obvlously. year has seen progress wilh the w0S at the old creamery and the Conservators have ensure(1 that Commons-related issues are considerèd and dealt with appropriately. whilst supwtng the wck belng done. We are also tyng to engage wth thé prop)s8d development at the old meat fa¢tory and have been workirg with Southwest Water to ty and bring ab)ut Improvements to Rolle Road caused by their usage for the sewage treatment plant. Ongolng work to update essentlal reu)rds and pollcios is prograsslng. wlth all our lagal tIU88 havlng rK>w been brought up to dats. Financial review During th8 ended 31 March 2024 the Charity had income totdling £74,581 (2023: £64,967), the charity had expendliure totalling £88,146 (2023: £73,204). During the yaar tha ch8rlty r6¢elved restricted In¢om• of £6.11712023: £5,000). As at 31 March 2024 the ¢harity had unrestrlcted fuThfjs carried fopward of £242.608 (2023: £248.664). Re8erv48 polity The Conserrfators have continwl a policy of maintalnSng substantial reseThes. ReseNes are also held to generate an onwing ino)me from interest and for fulure projects on tho Commons. Plan8 for futuro p•rlods Th8 Trustees plan to contlnue m8naglng the Commons and will idontify any opportunlties to Improve fac18$ and access as they arise. Page 4
Great Torrlngton Commons ConseThancy (Common Lands) TTustses' Report (continued) Statement of Trustses. R•sponslbllltles The Irustees are responsible for preparirKJ the trustees, report and t financ4al statements in a¢cordance w(Ih the United Kingdorn ALuunUng Standards (United Kingdom Generally AcCepj Accounting Pracllce) and applicable law and regulations. The law applicabie to charities requires the trustee$ to prepare finan(yal statements for each financlal year which give a true and falr vlew of the state of affairs of the charity and of the incoming resources 8nd application of resources of the charfty for that Period. In pparing these financral statement5, the lYust888 are required to". select suit8Lle accountlng rK4icies and then BFoly them c#)nslstenlly. observa the method5 and pdn¢lples In tho Ch8rlt18s SORP: makejudgements and estimatss that are reasonable and prudent state whether appllcable accounting stsndards have been followed, subject to any materfal departures dlsdosed and explained in tho finanrial statements. and prepare the financial statements on the going concem basis unless tt Is InapFKOP17at8 lo presume that the charity wlll continue in busine8S. The trustees are re8ponsSble for keeping proper aLuntIng records that disdose th reasonable accuracy at any tlme the financial position of the d)arity and enabl8 them to ensure that the financial statements comply with the Charttles Act 2011, th8 Charities (Accounts and Reports) Regulattons 2008, arKI the provisions of the constitution. The trustees are also responsible for safeguardlng the aBsets of the charty and h8nc8 for taking reasonable ¥tsps for th& pr8vention and dek¢tion of fraud and other IrregulariUes. The trustees are respjnsible for the Maintenan and integrity of Ihe ¢orporate and financial infomiation Inrjuded on the charitable companVs website. Legislation govemlng the preparation and di$semlnatlon of finanaal slatemenls may dlffer from legislation in otherJurl$dictions. Tha annual rewrt was approved by the truste88 of th8 charlty cm ... . bohalf by. and slgned on Its Adam Kirtriy Truste8 Andrew Giles Trustee Page 5
Great Torrington Commons Cons•rvancy (Common Lands) Independenl Examinerfs Report to the trustees of Great Torrington Commons Conservancy (Common Lands) I report to the trustees on my examination of the accounts of Great Torrington Commons Conservancy (Common Lands) for the year &nded 31 March 2024. Responslbllltlos and basb of roport As the tharlty tnjstees of Great T0Ingl Comm(ms Conserrfancy (Common Lands) ar reswnslbl8 for the preparation of the accounts in accordanco wmh the requlrements of the Charlt18S Act 2011 ('the Act.). I report In respèct of my examination the Graat Torrlngton Common8 Conservancy {Common Lands)'s accounts carriod out und•r sec11L 145 of the 2011 Act and in Cay7n9 Out my eXaMinan I have followed all the apFAicabl• Directlts ¥von by the Charfty Commlssion under se(aion 145{5)Ib) oftheA Indop•ndont oxamlnorfs statoment I have completed my examination. I confirm that no material matter8 have come to my attenlion in connedion with the examination gmng m6 cause to believ8 that in any matsrial resp8Ct: l. accountlng r&cords were not kept In respect of Great Torrtngton Commons Ccfflservancy (Common Lands) as requlred by sedon 130 of the Act: or 2. tha a¢o)unts do not accord with those rerds. or 3. the aco)unts do not comF4y wilh the aUnting requ1ments (x)nceming the form arKI content of a¢¢ounts set out in the Charities (Accounts and Rap)rts} RegulaIk$ 2008 other than any requlrement that the a(wunts give a Irue and fair whith 1$ not a matter Considered as part of an Indepondent examination. I have Th) concems and have come across no other matters in connectlon wlth the examlnallon to which attèntlon should ba drawn In thls repth kn order to enable a proper undetslandlng of tt accounts to reached. Catherine Williams FCA DChA Westcotts ISW) LLP 47 Boutport Street 8amstaple Dovon EX311SQ Page 6
Great Torrington Commons Conservancy (Common Lands) Statement of Flnanclal Activities for the Year Endod 31 March 2024 Unr•strlct funds Restrfcted funds Total 2024 Total 2023 Nots Income and Endowmènts from: Donations and legacles Other trading aclivitios Investment income Other Income 6,996 14,792 8.789 37.887 6,117 13.113 14.792 8,789 37.887 11,292 13,278 8,308 32,089 Tot81 inco 68,464 6.117 74.581 64,967 Expondlturè on: Raislng funds Charitable actlvitles {291 81,0271 (29) 88.117 (47) 73,157) {7,0901 Total expondilu Net expendlture Other rttognlsed galns and losses Other gainsnosses 81,056 7,090 188,146) 73,204 (12.592) (973> {13,565) (8,237) 6.536 6,536 (9,984 Net movement in fvnds 16,056) (973) (7,029) 118,221) Reconclllallon of funds Total funds brought for4vard Total funds carrfed forward 19 248.664 5.705 254,369 272,5 242,608 247,340 254.369 AJI ofthe charftys activlues derfve from contlnuing operalh)ns durfng th8 atx)ve two porlods. Thg funds breakdown for 2023 is shown in nole 19. The notes on p4e8 9 to 20 fonn an Intègral part of these flnanckql statements. Pago 7
Great Torrlngton Commons Conservancy (Common Lands) (Registratlon nUmr. 202804) Balance Sheet as at 31 March 2024 2024 2023 Flxod as6•tB Tangible assets Investfflents 14 15 28.724 196,328 38.303 189,792 228.095 225.052 Debtors Cash at bank and In hand 16 17 3.539 24,133 27,672 33,5C 33,789 Cr•dllorg: Amounts falllng due wlthln on• y•ar Net current a$8ets 18 7,515 22,288 26,274 Not assets 254.369 Funds of tho charity: R•$lrlctod Income funds Restricted funds 4,732 5,705 Unrestri¢t•d in¢om• fvnd8 Unrestricled fvnds 242,608 248.664 Totsl funds 19 247,340 254,369 ncial statements on pages 7 to 20 w8re approvod by the trustees. arKI 8Uthorised for issug C Andrew Giles Trustee Trusteg The notes on pages 9 to 20 fom an integral part of these finanGial statoment& Page 8
Great Torrington Commons Cons•rvan¢y (Common Lands) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 1 knounting poll¢l8s statfrment of complian The financial statements have bgen prepared in acc(ffdance with the second edition of the Charitie5 ststement of Recommended Practice issued in October 2019. the Finanrial Reporbng Stsndard applicable in the Unlled Kingdom and ReputrAic of Ireland {FRS 102) and the Chariti6s Act 2011. Ba81s of prnparation Great Torrlngton Commons ConseDMncy (Common Landsl meets th8 definition of a publ1¢ nefft entity under FRS 102. Tha a¢Unts (financial sl8tements) have been prepared under the hi5torfcal ost Conventi( with items r8cognised ai cost or tranSlI0n value unless olherwi5e stated In the rolwant notelsl to these accnts. Golng concern The trustees consider Ihat there are no materlal un¢ertalnties atmyjt the chartys abilty to continue as a going concem. Income and endowments Voluntary income induding donations, glfts, legacles and grarts that FKovide core funding or ale of a g8neral nature is rewnised when the charity ha$ entluement to the income. it 18 probable that the income wll be received and the amount ¢4n be measured wlih sufficient reliability. Donadons and legacles Donatlons and legacies are reco9nlged on a recelvable basls when recelpt Is probable and Ihe amount can rellably measur8d. Grtr rnc•lvablo Grants are re¢ognlsed vthen the charity has an entsdement to the funds and any eondltlons Ilnked to the grants have been mel. wre perfom)ance conditions are attached to the grant and are yet to be me( the income Is recognlsed as a liabllty and included on the balanrA sheet as deferred Income to bo released. Dlvldonds are recognlsod once the dmdend has been 4Jedarod and notifKation has been received of the dMd8nd due. Expgndiluro AH exp8ndltUT6 is recognised onL% there is a legal or conslrudlve obligatk>n to that expenthture. It Is Probable Settlement is required and the amount can be mSured Teliably. All costs are allocated to the appllcable expenditure headiro that aggregate similar G05ts to that category. Where costs cannot bg dlrecty attributed to P8rUcular headlngs they have been alocatgd on a basis Gonsistsnt with the use of resourc68, wKh central 8taff costs allocated on the basis of time spent, and depredatlon charges allocatsd on the FLirUon of the asseys use. Other support costs are allocated based on the spread of staff costs.
Great Torrington Commons Conservancy {Common Lands) Notès to the Flnanclal Statements for tho Year Ended 31 Pllarch 2024 (contlnued) Raising funds These are costs Incurred In attractlng voluntary incom8. the management of Investments and those Incurred In trading actlvllies that rai88 funds. Charitable activltl Charitable expendlture comprises those costs Inrred by the charfty in the delivery of Its aCtIlIeS and servicos for Its benefici8ries. It includes both costs that ¢an be allrtated diredy lo such actiwtles and those costs of an indir6Lt nature necessary to 8UPPOrt them. Support CO8ts Support ¢osl$ indude central functions and havo been allocated to actiwty )st categories M a basls consistsnt with the u8e of resources. for example. allocatlng propety c08ts by floor areas, or por capita, staff costs by the time spent and other costs by their usage. Taxatlon The charlty Is condered to pass the tests set out in PaTagr4ph 1 Schedule 6 of the Flnance Act 2010 and therefore it meets the definibon of a charitable company for UK Corporation tax purposes. AcKordingly, thé chadty Is potentlalty exempt from taxatlon in resp8Ct of Income or capltal galns recew8d categorl&s covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxallon of Chargeable Gains Act 1992, to the extent that 8uch income or gains are applied 8xcluslveiy to charitable wrp08e8. Tanglble ljxed assets Individual fixed assets 8re Intllally recorded at cost, less any subsequent accumulat8d depr8datton and subsequent accumulatsd Impalrnient Ios888. Depreclallon and amortlsatlon Depreoatlon is provided on tanglble fixed assets so as to wrlte off the ts)st or valuatlon, les$ any estlm8ted resldual value. over thelr expected usefvl e¢cffioml¢ Ilfe as follows: Assot cla88 Plant and Mathl Depreclatlon molhod and rat• 25% reducing balance asset Inve$lm8nts, other than Programme related Inveslments. are included at market valuo at th8 balance sheet date. Reallsed gains and losses on investments are calculated as th8 difference beknn sales proceeds and thelr market value at the stsrt of the year, or their subsequent Gost, and are charged or credlted to the Statement of Finanaal Ad1Vtti In the per of disposal. Unreallsed galns and losses represent the movem6nt in market values during the year and are cted5ted or c*arg8d to thg Ststement of Flnondal Activitie5 basod M the mthet value at Ihe year end. Cash and c•¥h •quivalents Cash and cash equivalents Gomprise Gash on hand and call deposits. and oth•r short4emi highly IlquKI Investsnents that are readily )nVertibl0 to a known amount of cash and are $ublect to an Insignificant rlsk of change in value. Pag8 10
Great Torrlngton Commons Conservancy (Common Lands) Notes to the Financlal Statements for the Year Ended 31 March 2024 (continuod) Fund structur• Unrestrlcted income funds ar8 general funds Ihat are available use at tho trustees discretion in fijrtherance of tho o¥ectives of Ihe charity. Restrlcted income fund5 ar• those dated for use in a particular area or for speclfic purposes, the use of which is restrictgd lo that area or purpose. n•n¢W Instruments Cl•uMlcatlon Flnancial assets and financial IlabiNtie8 are renISed when the Gharity becom88 8 paty lo the Contractual provisions of the Instrument. Inanclal liabilities and Ulty Instruments are classmed accordlng to the SubStsn of the contractual arrangements entered into. An equity Instrument Is any contract that evldences a resldual intere8t the assets of the charity after deductlng all of its Ilabilides. Recognltlon and measurement All financial assets and Ilabllrt18s are initially measured al tran8action price (indudiNJ transaction c#)sts), except for Ihoso finandal assets classified as at fair value through profft or loss. whlth ar? In[allY measurod at fair value {whlch Is nom)ally the transaction pr1¢ excluding transaction ¢o$ts). unless the arrangement constibjtes a financlng tran¥aGtion. If an arrangement constitutes a financirrfJ transaction, the financial asset or financial liabilty is measured at the present valu8 of the fvre payTn&nts discounted at a market rats of Inter8St for a similar debt Instrument. Flnancial assets and liabllltles are only offset in the ststement of financial position when, and only when there exists a legally enforceable right to set off the recogni9ed amounts and the charlty Intends 8ithei to Sgttlo on a net basis. or to realise the ass8t and s•tUe th8 liability simultaneously. Financial assets are dere(Jgnised when and ¢)nly al the ltractUal lights to the cash from the financiai asset explra or are settled. b) the diarity transfers to arK>ther party substsntlally 41 of th8 risks and rewards of ownershlp of the financial asset. or ¢) the charity, despite hawng retained Some, but not all. srgnfficant rtsks and rewards of ownership, has tr8nsferred control of the a88et to another party. Flnandal Ilablliues are deregnIsfjd only whw Ihe obligation spfied kn the corrtract is discharged. Caelled or expires. Investments In nonwconvertlble preference shares and nonyjttable ordlnary or pr8ference shares (where shares are publldy traded or their fair value is reliably measurable} are measured at fair value through proffit or loss. Where falr value cannot b8 measured rellably. investments ar8 méasured at cost loss impainrw)L Investrnenis in subsidiaries and assoclates are measured at cost les5 impalmient. For investments In wbsidiaries acquired for conxidarallon Indudlng the issue of shares qualng for merger rellef, cost is measured by refer8ncè to the nomlnal value of th8 shares issued plus fair value of other )n8ider8tion. Any premlum Is nOred. Page 11
Great Torrlngton Commons Cons•rvancy (Common Lands) Notes to th• Flnancial Stat•monts for the Year Ended 31 March 2024 (continued) Falr value m•a$urarn•nt Th& best eviden(* of fair value Is a quoted prlc8 for an identical asset in an aclive MaeL When quot8d prlces are unavailable, tho price of a recont transaction for an identical asset prowdes evidence of fair value as long as there h88 not been 8 81gnlfrcant charMJe in enoMiC circum8tance8 or a signlficant lapse of tlme slnc8 th8 transactlon took place. If the market is not a¢tive and recent transactions of an identical asset on their own are not a gocmj estimato of fair value, the falr valu& 1$ estlmated by uslng a valuation ts¢hnlque. 2 In¢omo from donatlons and1ogacle• Unrestrlcted funds Gonoral Restrlct•d funds T¢>tal 2024 Donatlons Donatlons Grants Grdnts receNed 6,746 4.117 10.863 250 2,000 2,250 6,996 6,117 13,113 Unr•strictsd funds General Rostridod funds Total 2023 Donallons Donations Grants Grants receivod 6,042 6,042 250 5,0 5.000 5,250 11,292 6,292 3 Income from other tradlng actlvltlg5 UnrostrlGtod funds G•n•ral Totsl 2024 Book Sales 365 SupFrfrters Fundralslng events Car B(t Sales Commernoralive Benthos 3,532 4,370 1,373 4,617 900 3,532 4,370 1.373 4.617 14,792 14,792 Page 12
Great Torrington Commons Conservancy (Common Lands) Notes to tho Financial Statements for tho Yoar Ended 31 March 2024 (continued) Unro#trictad nds G•noral Total 2023 Book Sal88 365 Supporters Fundraising events Car Boot Sales Commemor8tlve Benches 1.8tXJ 4.460 1.098 5,420 500 1,800 4.460 1,098 5.420 500 13,278 13,278 4 Investmonl in¢om• Unro9tri¢t•d funds G•neral Totsl 2024 Bank Intorest receivabte Inv•slment Income 442 8,347 442 8,347 8,789 8.789 Unrestrlct•d funds General Total 2023 Bank interest rec8iv8ble Investmont incom8 126 8,182 8.308 126 8,182 8.308 5 Oth•r Incom• Unrostridad nds G8neral Total 2024 Ground Rent WaeaVes other income Subsidigs Refund of RPA costs 28.492 28,492 1.865 2,449 2,881 2.41)0 2.449 2.881 2.400 37,887 37.887 Page 13
Great Torrlngton Commons Conservancy (Common Lands) Notes to the Flnancial Statements for th• Yoar Ended 31 March 2024 (contlnued) Unr•8trlcted lund8 General Totsl 2023 Ground Rent WaeaveS Other income Subsidies 26,518 1.065 26,518 1,065 960 32.089 32,089 6 Expendlturo on ralslng funds a) Costs of generallng donations and lega¢i•s Unr•8lrlcted lunds Géneral Total 2024 Other direct ¢osts of generating vduntary Income 29 29 Unrestrlcted funds General Total 2023 other dlrect costs of generating voluntary incom8 47 47 7 Expenditure on charitsb actmtles Unrestrlcted fund• General Restrlcted funds Totsl 2024 Allocated support costs 81.027 7,090 88.117 Vnr•8trlct•d funds Oeneral Total 2023 Allocaled support costs 73,157 73,157 Page 14
Great Torrlngton Commons Conservancy (Common Lands) Notss to the Finan¢lal Statsmonts for the Year Ended 31 March 2024 (contlnued) 8 Analy819 ol support eosts Support costs allocatod to charltsble acllvltle8 Commons malntenance Total 2024 Totsl 2023 Depreclatlon Staff costs Indep8ndent examin8rfs f88S Repairs and maintenance staff training TravelliNJ Light. heat and power Insurance RPA ¢0$18 Office expenses Sundry oxponsos Advethsing Accountancy fees Legal and professional fees Bad dgbts wrftten ¢)ff 9,579 44,370 756 18.867 300 316 1.354 4.574 2.400 2.527 637 153 1,896 9.579 44,370 756 18,867 31)J 316 1.354 4,574 2.400 2,527 637 153 1,896 12,771 39.613 1,240 7,949 590 1,037 3.755 2,326 435 2.172 250 88.117 88,117 73,157 9 Not Incornlngloulgoing rosour¢o$ Net outw'ng resources foT the year ryidude.. 2024 2023 Deprédatlon of flxed assets 9,579 12.771 10 TnrntaK r•muneration and exp•n$ No trustees, nor any p$S connected wilh them, have rerthed any Temuner8llon from th8 thadty during r. No trustees have recaed any reimbur8ed expenses cff any other boneffts from the thadty dudng the Page 15
Great Torrlngton Commons Conservancy (Common Lands) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 {contlnu•d) 11 Staff costs The aggregate payroll 5t8 w8r8 as ft4lows: 2024 2023 Staff costs during tho yoar wor•: W8ges and salaries 44,370 39,613 The average head count of emtAoye8s durlng the year was 4 (2022: 41. The average number of full-time equlvalent employees during tho ygar is analy38d as follows., 2024 2023 Number of staff No employee rece5ved emoluments of mor8 Ihan £60,1))O durfng Ihe ye8r 12 Indép8nd•nt •xamlnoffs r•muneratlon 2023 Examination of th8 financial statements 756 1,240 13 Taxallon Th8 charity 1$ a registered charity and is therefore exemptfrom taxallon. Page 16
Great Torrington Commons Cons•rvan¢y (Common Lands) Notos to the Financial Statements for the Year Ended 31 March 2024 (contlnued) 14 Tanglble fixed assets Fumlture and equlpment Totsl Cost At 1 April 2023 At 31 March 2024 96,615 96,615 96,615 96.615 Doprociailon At 1 ApTN 2023 Charge for the year At 31 M8r¢h 2024 58,312 9,579 58,312 9.579 67,891 67,891 Net book value At 31 March 2024 28,724 28.724 At 31 March 2023 38,303 38,303 Page 17
Great Torrlngton Commons Conservancy {Common Lands) Notes to the Financial Stat•ments for the Yr Ended 31 March 2024 (contlnued) 15 Flxed asset Investments Other Investfflonts Other InsIMents Total Cost or Valuallon At 1 Aprfl 2023 Revaluation 189,792 6,536 189,792 6,536 At 31 March 2024 196,328 196.328 Not book valug At 31 March 2024 196,328 196,328 At 31 March 2023 189,792 189.792 16 08btors 2024 20Z3 Trade debtors PrepayTnents 199 3.340 289 3,539 289 17 C•sh and cash oqulva10nt8 2024 2023 Cash 8t bank 24,133 33.500 18 Credlkn: amounts tslllng due wlthln on• year 2024 2023 Trade ¢reditor8 other credltors Acc¥uals 3.238 58 2,088 129 7,332 7.515 Page 18
Groat Torrlngton Commons Conservancy (Common Lands) Notes to the Financlal Statom•nts for tho Year Ended 31 March 2024 (continued) 19 Fund• Balance at 1 Aprfl 2023 Othèr Balanco at In¢omlng Ro8ources rKognl¥ed 31 M)rch r•sourcos oxp•ndetyinsl(losses) 2024 UnrestrfGtsd funds G•noral General Funds Inve8tsmerrts 58.872 189.792 248,664 68.464 (81.056) 46.280 196,328 242.608 6,536 6,536 81.056 Rostrlcted funds Monument Fund Old Bowllng &e8n 705 5,000 5,705 4,117 (9)) 4,732 7,090 4.732 Totsl funds 254,389 74,581 88.146 6.536 247,340 Balan¢0 Other Balance recogni$•d at31 galnsl March {lo•s•¥) 2023 Aprfl IncornlngRe8ourcoS 2022 ra8ou$ fjxppndod Transfvrn Unro8tri¢tgd fvnds Gonfrrnl General Funds Investments 57,566 199,776 257.342 59.967 (73,204) 14,543 58,872 189,792 9,984 14,543 248,664 9.984 59,967 {73,204 R•stri¢t•d funds Commemorative bend Town Counc51 grant Commemorativ6 benth Mr Jack80n Cavaller Bonfire Monument Fund WI 90th Trees Old B0Ing Green 1,795 (1.795) (1,855) 243 10,000 355 1,000 12431 (10.000) 350 (1.000) 705 5,000 5,000 15,248 14,543 5,705 Total funds 272,590 64,967 73,204 254,389 Page 19
Great Torrlngton Commons Conservancy (Common Lands) Notes to tho Financial Stat•ments for tho Y•ar Ended 31 March 2024 (contlnued) Investments repr8S8nt the market value ofthe investrnents held wlth M&G and CCL Restricted funds Tho Monument Fund 1$ monies donated toward5 the cost of repalring Ihe Watedoo MonumenL Th8 Old BovAing Gre8n Fund13 monles donated for the repalr of the road lo the ¢ar park. A review of r8Stricted fund balances was rrIfjd out duriThJ 2023 and it was identified that all other balances had previously been utilised. 20 Anatysis of n•t assets belwwn funds Unrestrfctsd funds Gèneral Total funds at 31 March 2024 RoStriGtod funds TangSble fixed assets Fixed assot investments Current assets Current liablllties 28,724 196,328 22,940 5,3841 28,724 196,328 27,672 5.3841 247.340 4.732 Total net assets 242,608 4.732 Unrestrlcted funds Genernl Tolal fund8 at 31 March 2023 Re81rlcted funds Tangible fixed assets Flxed asset investments Current assets Current liabllltieg 38,303 189.792 28,084 ,515 38,303 189,792 33,789 17,515 254.369 5,705 Total net assets 248,664 5,705 21 Rolat•d party nctIonS There were no related party transaGlion$ In th8 year. Page 20