## **WOTTON-UNDER-EDGE TOWN TRUST Charity Number 203466** ## **TRUSTEES ANNUAL REPORT FOR THE FINANCIAL YEAR ENDING 31[ST] MARCH 2022** ## **Trustees** Wotton-under-Edge Town Council is the Trustee of Wotton-under-Edge Town Trust. The Town Council at 31[st] March 2022 was comprised of the following members: Mr R Claydon OBE (Chairman) Mr J Lewis Mr D Thomas Mr P Barton Mr T Luker Mr M Tucker Dr J Cordwell Mr N Pinnegar Mr J Turner Mrs T Creese Mrs L Taylor ## **Overview** The year 2021-2022 has seen a decrease in income of £16,606 from the previous financial year, plus a decrease of £5081 in expenditure over the same period. The surplus for the year was £34,149 with end of year cumulative funds increasing to £168,232. **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 -----**
31/3/2021 31/3/202 Difference Notes
2
Town Hall £2233 £5034 £2801 Increased cleaning costs due to
Caretaking/Cleaning re-opening of building following
COVID lockdowns
Town Hall £6593 £962 -£5631 Decrease due to the following in
Maintenance/Misc. FY2021: Town Hall condition
Expenses survey scan - £4378; loft
insulation - £650; fire systems
maintenance - £698
Youth Centre £3901 £2256 -£1645 Decrease due to incorrect large
electricity bill in FY2021 –
refund of £1899 subsequently
received for this
Chipping Clubroom £2251 £1352 -£899 Insulation £1358 installed in
FY2021, partially offset by
resumption of cleaning costs in
2022 after building re-opened
following COVID lockdown
**----- End of picture text -----**
Major expenses continue to be insurance, administration, cleaning and utilities. **Income** Significant variations are as follows: **----- Start of picture text -----**
31/3/2 31/3/2 Difference Notes
1 2
Town Hall Lettings £21618 £19446 -£2172 Affected by COVID –£19669 Leisure grants
received in 2021, which were standard sums
issued to all eligible businesses. These were
reduced to £12168 in 2022 but difference partially
offset by hire fees following re-opening of building
after COVID lockdown.
Chipping Hall Rent £4500 £9000 £4500 Rent partially waived in 2021 due to COVID
lockdown
Chipping Clubroom £19927 £12970 -£6957 Affected by COVID – £19669 Leisure grants
Lettings received in 2021, which were standard sums
issued to all eligible businesses. These were
reduced to £12168 in 2022 but difference partially
offset by hire fees following re-opening of building
after COVID lockdown.
Unrealised Profit on £14550 £8449 -£6101 Affected by fluctuations in the investments
Investments market, particularly due to Coronavirus pandemic
Grants/Donations £5000 £0 -£5000 Grant towards survey & scaffolding for Town Hall
repairs received in 2021
Miscellaneous £1899 £1026 -£873 £1898 refund received in 2021 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 Wotton-under-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 reasonable order and are well-used by a wide cross-section 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 have been delayed due to the unfortunate loss of the project manager. Efforts are ongoing to progress the project as soon as possible. The costs for this will be met by Wotton-under-Edge Town Council. Signed: …………………………………………………. Chairman of the TrusteesDated: ## **Wotton-under-Edge Town Trust** Registered charity number 203466 **Income and Expenditure Account for the Year Ended 31st March 2022** |**Income**
Town Hall Letngs
Chipping Hall Rent
Chipping Clubroom Letngs
Other Letngs
Interest Received
Income from Other Investments
Donaton by Woton Town Council
Unrealised Profts on Investment Assets
Wayleaves
Grants/Donatons
Miscellaneous Income
**Expenditure**
Town Council Administraton Fee
Town Hall Caretaking/Cleaning
Town Hall Maintenance/Misc Expenses
Town Hall Utlites
Town Hall PRS Licence
Youth Centre
Chipping Hall
Chipping Clubroom
Other Property Expenses
Insurance
Grants
Audit Fees/Bank Charges
Charity Commission
Miscellaneous Payments
Surplus/Defcit for the year
Cumulatve Funds B/Fwd
Cumulatve Funds C/Fwd|**03/31/2021**
£21,618.21
£4,500.00
£19,927.21
£2,356.00
£11.93
£613.78
£6,700.00
£14,549.52
£304.60
£5,000.00
£1,898.78
£77,480.03
£7,000.00
£2,232.77
£6,593.30
£3,184.01
£88.77
£3,900.86
£0.00
£2,250.89
£323.30
£2,667.04
£100.00
£261.89
£251.80
£2,950.00
£31,804.63
£45,675.40
£88,406.86
£134,082.26
**£134,082.26**|**03/31/2022**
£19,445.98
£9,000.00note 1
£12,970.00note 2
£2,356.00
£0.62
£626.10
£6,700.00
£8,449.34
£300.00
£0.00note 3
£1,025.58note 4
£60,873.62
£7,000.00
£5,034.07note 5
£961.70note 6
£3,367.86
£79.86
£2,255.93note 7
£0.00
£1,352.00note 8
£668.48
£2,735.50
£100.00
£298.00note 9
£251.80
£2,619.00
£26,724.20
£34,149.42
£134,082.26
£168,231.68
**£168,231.68**| |---|---|---| |Signed: Chairman
Responsible Financial Ofcer||| ## **Wotton-under-Edge Town Trust** Registered charity number 203466 **Balance Sheet as at 31st March 2022** |**Investments**
Investments at Valuaton
**Current Assets**
Actve Savers Account
Current Account
Unity Trust Current Account
Unity Trust Instant Access Account
Debtors (VAT recoverable)
**Total Assets**
**Current Liabilites**
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
£0.00
£0.00
£1,143.67
£58,494.48
**£134,282.26**
£200.00
**£134,082.26**
£88,406.86
£45,675.40
**£134,082.26**|**03/31/2022**
£84,237.12
£0.00
£0.00
£8,344.58
£75,000.62
£856.36
£84,201.56
**£168,438.68**
£207.00
**£168,231.68**
£134,082.26
£34,149.42
**£168,231.68**| |---|---|---| |Approved by Woton-under-Edge Town Trust:
Signed: Chairman
Responsible Financial Ofcer
Date:||| ## **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 2022: ||||**Total Value**|| |---|---|---|---|---| |||**Value per**|**at**|**Value at**| ||**Units**|**unit (£)**|**31/3/2022**|**31/3/2021**| |Income Shares|1121.21|19.4735|£21,833.88|£20,099.26| |Accumulaton Shares|183.83|231.2301|£42,507.03|£37,884.00| |Accumulaton Shares|81.75|231.2301|£18,903.06|£16,890.27| |C G Peglar Fund|51|19.4735|£993.15|£914.25| ||||**£84,237.12**|**£75,787.78**| |**Note 1**
**Chipping Hall Rent**
**Note 2**
**Chipping Clubroom Letngs**
COVID grants received
Letngs Fees
**Note 3**
**Grants Received**|Rent waived during COVID lockdown in 2020/2021
**2020/21**
**2021/22**
£19,669.21
£12,168.00
£258.00
£802.00Usage now increasing following COVID lockdowns
£19,927.21
£12,970.00
Grant received from Gloucestershire County Council
towards Town Hall scafolding/survey in FY2020/21| |---|---| |**Note 4**
**Miscellaneous Income**
Ecotricity Refund
**Banking**|**2020/21**
£1,898.44Youth Centre
£0.34Loyalty reward
£1,898.78|**2021/22**
£25.58Town Hall
£1,000.00Bank error reimbursed
£1,025.58| |---|---|---| **Note 5 Town Hall Caretaking/Cleaning** Increased as cleaning resumed after COVID lockdowns |**Note 6**
**Town Hall Maintenance/Misc Expenses**
Lif Maintenance
Plumbing supplies/other
Boiler maintenance
Fire systems maintenance
Fire Curtain maintenance
Kitchen Refurbishment
Surveys/Scans
Lof Insulaton
Refunds
**Note 7**
**Youth Centre**
Cleaning
Utlites
Fire systems/gas safety
Sundries
Lof insulaton
Music Licence
**Note 8**
**Chipping Clubroom**
Cleaning
Utlites
Fire Systems Maintenance
Sundries
Insulaton
**Note 9**
**Audit Fees/Bank Charges**|**2020/21**
£204.19
£222.68
£130.00
£698.43
£0
£200.00
£4,378.00
£650.00
£110.00
£6,593.30
**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| |---|---| |**Creditors from Financial Year 2020/21**
Audit Accrual
**Deduction from Audit Figure**|| ||| |**Creditors from Financial Year 2021/22**
Audit Accrual
**Addition to Audit Figure**|| ## **Earmarked Funds** To Benefit the Elderly £544.00 From Chipping Clubroom Trust Funds . urFinance.':l., Your finance Directoi. Andrea Dum Clerk to the Council Wotton Tovm Council Civic Centre 2 Gloucester Street Wotton-under-Edge Gloucestershire GL12 7DN 30. May 2022 Wotton Town Trust Independent Intern￿ Audit 202112022 Dear Andrea. Further to my site visit on 24 May 2022. may I r￿st of all express my tlw]ks to yourself and Yasmin for the organised provision of the necessary records and documents to assist with the audit of the Town Trnst for 202 1-2022. 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 th¢ financial year and the Town Council is meeting its duties as Trustees in this respect. My only comments are those of an analytical nature in that the reduction in the Surplus for the year compared to 2020-2021 can be summarised as follows: £'OOO's Chi in Hall Rent Chi in Clubroom lettin GCC Grant towards surve s I Scans Other net differences Reduction ofo erational Su Ius Unrealised Investments revaluation Reduction of Su lus for the ear s / scans +4.4 -11.5 Yours sincerely S A Tasker FCMA I CGMA CIMA ourt Orchard, Wotton-under-Edge, Gloucestershire GL12 7IB 1: 0333 IZ363ZI, E mail.. .LLIb' itter= @yoUrfinan￿dept