## **WOTTON-UNDER-EDGE TOWN TRUST Charity Number 203466** ## **TRUSTEES ANNUAL REPORT FOR THE FINANCIAL YEAR ENDING 31[ST] MARCH 2021** ## **Trustees** Wotton-under-Edge Town Council is the Trustee of Wotton-under-Edge Town Trust. The Town Council at 31[st] March 2021 was comprised of the following members: Mr R Claydon OBE (Chairman) Mr R Hale Mr D Thomas Mr P Barton Mr T Luker Mr M Tucker Dr J Cordwell Mr N Pinnegar Mr J Turner ## **Overview** The year 2020-2021 has seen a dramatic increase in income of £48,787 from the previous financial year, plus an increase of £4302 in expenditure over the same period. The surplus for the year was £45,675 with end of year cumulative funds increasing to £134,082. **The Town Trust continues to be heavily subsidised by Wotton-under-Edge Town Council for the benefit of the community.** ## **Expenditure** Significant variations are as follows: **----- Start of picture text -----**
31/3/2020 31/3/20 Differe Notes
21 nce
Town Hall £4932 £2233 -£2699 Reduced cleaning costs
Caretaking/Clea due to building being
ning closed during COVID
lockdowns
Town Hall £2016 £6593 £4577 Increase due to Town Hall
Maintenance/Mis condition survey scan in
c. Expenses FY2021 at a cost of
£4378
Town Hall £4466 £3184 -£1282 Largely due to timing of
Utilities bills received in FY2020
Youth Centre £2542 £3901 £1359 Increase due to incorrect
large electricity bill –
refund of £1899
subsequently received for
this
Chipping £1728 £2251 £523 Insulation installed
Clubroom
Insurance £3165 £2667 -£498 New contract at lower
cost
Miscellaneous £270 £2950 £2680 Transfer in FY2021 of
Payments balance of grant monies
of £2950 received for
Town Hall repair works to
Wotton-under-Edge Town
Council, who are to fund
the work
**----- End of picture text -----**
Major expenses continue to be insurance, administration, cleaning and utilities. ## **Income** Significant variations are as follows: **----- Start of picture text -----**
31/3/ 31/3/ Differe Notes
20 21 nce
Town Hall £7986 £2161 £13632 Affected by COVID – reduction in hire
Lettings 8 fees to £1949; but compensated by
Leisure grants received of £19669,
which were standard sums issued to all
eligible businesses
Chipping Hall £8000 £4500 -£3500 Rent partially waived due to COVID
lockdown
Rent
Chipping £2999 £1992 £16928 Affected by COVID – reduction in hire
Clubroom 7 fees to £258; but compensated by
Leisure grants received of £19669,
Lettings which were standard sums issued to all
eligible businesses
Unrealised Profit £0 £1455 £14550 Affected by fluctuations in the
on Investments 0 investments market, particularly due to
Coronavirus pandemic
Grants/Donation £0 £5000 £5000 Grant towards survey & scaffolding for
s Town Hall repairs. Balance of £2950
transferred to Wotton-under-Edge Town
Council, who are to fund the scaffolding
Miscellaneous £69 £1899 £1830 £1898 refund received for Youth Centre
Income electricity
**----- End of picture text -----**
## **Points to Note** Some of the operating expenses of the Youth Centre building are paid by Wottonunder-Edge Town Council for its use as a Youth Centre. The donation of £4700 from Wotton-under-Edge Town Council is to compensate the Trust for loss of rent income following: (i) closure of the Police Station (£3500); (ii) economy measures at Stroud District Council resulting in their decision to only continue to run the Chipping Car Park if it was on an expenses only basis, without any underlying rent costs (£1200). The Town Council continues to pay £2000 per annum to the Town Trust to rebuild the Permanent Endowment used to fund the refurbishment of the Town Hall, as required by the Charities Commission. ## **Summary** Wotton-under-Edge Town Trust continues to meet its remit of providing buildings for the enjoyment of the people of the town. All of its buildings, with the exception of the Town Hall front elevation and gables where some repair works have become necessary, are in good order and are well-used by a wide crosssection of the public for a variety of recreational purposes. Two of the buildings are listed and maintenance costs can be high when work is required, therefore subsidy from the Town Council continues to be necessary. Preparations for the repairs to the Town Hall are ongoing and it is anticipated that the work will start in the near future. The costs for this will be met by Wotton-under-Edge Town Council. Signed: …………………………………………………. Chairman of the Trustees Dated: ## **Wotton-under-Edge Town Trust** _Registered charity number 203466_ **Income and Expenditure Account for the Year Ended 31st March 2021** |**Income**
Town Hall Lettings
Chipping Hall Rent
Chipping Clubroom Lettings
Other Lettings
Interest Received
Income from Other Investments
Donation by Wotton Town Council
Unrealised Profts on Investment Assets
Wayleaves
Grants/Donations
Miscellaneous Income
**Expenditure**
Town Council Administration Fee
Town Hall Caretaking/Cleaning
Town Hall Maintenance/Misc Expenses
Town Hall Utilities
Town Hall PRS Licence
Youth Centre
Chipping Hall
Chipping Clubroom
Other Property Expenses
Insurance
Grants
Audit Fees/Bank Charges
Charity Commission
Miscellaneous Payments
Unrealised loss on investments
Surplus/Defcit for the year
Cumulative Funds B/Fwd
Cumulative Funds C/Fwd|**03/31/2021**
£21,618.21_note 1_
£4,500.00_note 2_
£19,927.21_note 3_
£2,356.00
£11.93
£613.78
£6,700.00
£14,549.52
£304.60
£5,000.00_note 4_
£1,898.78_note 5_
£77,480.03
£7,000.00
£2,232.77_note 6_
£6,593.30_note 7_
£3,184.01_note 8_
£88.77
£3,900.86_note 9_
£0.00
£2,250.89_note 10_
£323.30
£2,667.04
£100.00
£261.89_note 11_
£251.80
£2,950.00_note 12_
£0.00
£31,804.63
£45,675.40
£88,406.86
£134,082.26
**£134,082.26**|**03/31/2020**
£7,985.50
£8,000.00
£2,998.50
£2,000.00
£38.29
£601.70
£6,700.00
£0.00
£300.00
£0.00
£69.40
£28,693.39
£7,000.00
£4,932.24
£2,015.84
£4,466.36
£175.81
£2,542.39
£0.00
£1,727.66
£211.15
£3,164.56
£100.00
£298.64
£251.80
£270.00
£345.95
£27,502.40
£1,190.99
£87,215.87
£88,406.86
**£88,406.86**| |---|---|---| |Signed: Chairman
Responsible|Financial Ofcer|| ## **Wotton-under-Edge Town Trust** _Registered charity number 203466_ ## **Balance Sheet as at 31st March 2021** |**Investments**
Investments at Valuation
**Current Assets**
Active Savers Account
Current Account
Debtors (VAT recoverable)
**Total Assets**
**Current Liabilities**
Creditors
**Net Assets**
**Represented by:**
Accumulated Fund brought forward
Surplus/Defcit for the year|**03/31/2021**
£75,787.78
£19,544.28
£37,806.53
£1,143.67
£58,494.48
**£134,282.26**
£200.00
**£134,082.26**
£88,406.86
£45,675.40
**£134,082.26**|**03/31/2020**
£61,238.26
£18,918.57
£7,854.14
£595.89
£27,368.60
**£88,606.86**
£200.00
**£88,406.86**
£87,215.87
£1,190.99
**£88,406.86**| |---|---|---| |Approved by Wotton-under-Edge Town Trust:
Signed: Chairman
Responsible
Date:|Financial Ofcer|| ## **Wotton-under-Edge Town Trust** _Registered charity number 203466_ ## **Notes to the Accounts** ## **Investments** The Charities Official Investment Fund (COIF) advised the Town Trust that its investments had the following values at 31st March 2021: ||||**Total Value**|| |---|---|---|---|---| |||**Value per**|**at**|**Value at**| ||**Units**|**unit (£)**|**31/3/2021**|**31/3/2020**| |Income Shares|1121.21|17.9264|£20,099.26|£16,657.14| |Accumulation Shares|182.89|207.1409|£37,884.00|£30,277.53| |Accumulation Shares|81.54|207.1409|£16,890.27|13545.91| |C G Peglar Fund|51|17.9264|£914.25|757.68| ||||**### **|**£61,238.26**| **Note 1 Town Hall Lettings** Increased due to COVID grants £19,669.21 _COVID grants received_ Lettings Fees £1,949.00 _Reduced due to COVID lockdown_ £21,618.21 **Note 2 Chipping Hall Rent** Decreased due to waiving rent during COVID lockdown **Note 3 Chipping Clubroom Lettings** Increased due to COVID grants £19,669.21 _COVID grants received_ Lettings Fees £258.00 _Reduced due to COVID lockdown_ £19,927.21 **Note 4 Grants Received** Grant received from Gloucestershire County Council towards Town Hall scaffolding/survey ## **Note 5** **Miscellaneous Income** Ecotricity Refund £1,898.44 _Youth Centre_ Bank Loyalty Reward £0.34 £1,898.78 **Note 6 Town Hall Caretaking/Cleaning** Reduced as cleaning stopped during COVID lockdowns |**Note 7**||| |---|---|---| |**Town Hall Maintenance/Misc Expenses**|**2020/21**|**2019/20**| |Lift Maintenance|£204.19|£83.35_Diference due to payments timing_| |Plumbing supplies/other|£222.68|£122.94| |Boiler maintenance|£130.00|£255.00| |Fire systems maintenance|£698.43|487.48| |Water Heater Repairs|£0|£125.00| |Electrical Testing|£0|£420.50| |Kitchen Refurbishment|£200.00|£521.57| |Surveys/Scans|£4,378.00|£0.00| |Loft Insulation|£650.00|£0.00| |Refunds
**Note 8**
**Town Hall Utilities**
Electricity/Gas
Water/Sewage|£110.00
£6,593.30
**2020/21**
£2,665.77
£518.24
£3,184.01|£0.00| |---|---|---| |||2015.84| |||**2019/20**
£3,928.88
537.48| |||£4,466.36| 2019/20 electricity/gas includes late bills relating to last quarter of 2018/19 |**Note 9**
**Youth Centre**
Cleaning
Utilities
Fire systems/gas safety
Sundries
Loft insulation
Electrical Testing
**Note 10**
**Chipping Clubroom**
Cleaning
Utilities
Fire Systems Maintenance
Sundries
Insulation|**2020/21**
£938.00
£2,062.87
£391.72
£81.27
£427.00
£0.00
£3,900.86
**2020/21**
£362.85
£431.31
£27.80
£71.26
£1,357.67
£2,250.89|**2019/20**
£1,412.00
£260.63_2020/21 refund of £1898.44 received_
£356.67
£386.45
£0.00
£126.64
£2,542.39
**2019/20**
£1,017.00
£486.36
£109.37
£114.93
£0.00
£1,727.66| |---|---|---| |**Note 11**||| |---|---|---| |**Audit Fees/Bank Charges**||| |**Creditors from Financial Year 2019/20**||| |Audit Accrual|£200.00|| |**_Deduction from Audit Figure_**||**_£200.00_**| |**Creditors from Financial Year 2020/21**||| |Audit Accrual|£200.00|| |**_Addition to Audit Figure_**||**_£200.00_**| ## **Note 12** ## **Miscellaneous Payments** Transfer to Town Council of £2950 being the grant paid to the Trust for survey and scaffolding works on the Town Hall. Survey paid for by Town Trust with this grant funding. Project now taken over by the Town Council so balance of the remaining grant transferred. our Finance Your Finance Director rt. Andrea Durn Clerk to the Council Wotton Town Council Civic Centre 2 Gloucester Street Wotton-under-Edge Glouceste15hire GL12 7DN 3rd June 2020 Independent Internal Audits 202012021 Dear Andre Further to my site visit on 27 May 2021, may I first of all express my thanks to yourself and Yasmin for the organised provision of the necessary records and documents to assist with the audits. My findings are as follows. Wotton Town Council CIMA Court Orchard. Wotton-under-Edge, Gloucestershire'GLif7)6 el: 0333 1236321. E mall: 5" Twitter.. @yourfinancedept Your Finance Director Continued..... Continued. Wotton Town Trust My review of the accounts and records revealed consistency with prior year's compliance, and I'm satisfied that they give a true and fair view of the transactions for the financial year and the Town Council is meeting its duties as Trustees in this respe¢t. My only comments are those of an analytical nature in that the Surplus for the year can be summarised as follows: £'OOO's 39 Grant Income Town Hall Lettin Youth Centre Utilities Surve s I Scans Other net differences r2tiollal Sur Unrealised Investments revaluation Sur lus for the 31 15 Thank￿lly, the Trust was able to benefit from the various grants available arising from the pandemic. For the Town Council, I completed and signed the Intemal Auditors section of the annual return but if there is anything further you require from me to Complete the fornialities pl¢ase let me know. Yours sincerely S A Tasker FCMA I CGMA our Finance Deptmiz Limited (Reg. No. 07858004) Court Orchard, Wotton-under-Edge, Gloucestershire GL12 ' CIMA el: 0333 1236321, E mail: qwitter.. @yourfinancedept,