## **WOTTON-UNDER-EDGE TOWN TRUST Charity Number 203466** ## **TRUSTEES ANNUAL REPORT FOR THE FINANCIAL YEAR ENDING 31[ST] MARCH 2023** ## **Trustees** Wotton-under-Edge Town Council is the Trustee of Wotton-under-Edge Town Trust. The Town Council at 31[st] March 2023 was comprised of the following members: Mr P Barton Ms S Hunt Mr D Thomas Mr R Claydon OBE Mr J Lewis Mr M Tucker (Chairman) Dr J Cordwell Mr T Luker Mr J Turner Mrs T Creese Mr N Pinnegar Ms T Young ## **Overview** The year 2022-2023 has seen a decrease in income of £27, 928 from the previous financial year, plus an increase of £22,275 in expenditure over the same period. The deficit for the year was £16,054 with end of year cumulative funds decreasing to £152,177. **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: ||**31/3/2022**|**31/3/20**
**23**|**Difere**
**nce**|**Notes**| |---|---|---|---|---| |Town Council
Administration
Fee|£7,000|£8,750|£1,750|Contribution towards
Town Trust administration
costs. Last increased in
2017/18.| |Town Hall
Caretaking/Clea
ning|£5034|£7760|£2726|Increased cleaning costs
due to staf admittance to
pension scheme; and
contract cleaning of
£1,080 to cover staf
absence.| |Town Hall
Maintenance/Mis
c. Expenses|£962|£9,447|£8485|Increase due to lift
repairs £631; Fire safety
works £4,282; Flooring
refurbishment £2,996;
electrical works£593| |Town Hall
Utilities|£3,368|£4,386|£1,018|Due to delayed payment
from Financial Year
2021/22| |Chipping Hall|£0|£4,274|£4274|Fire safety works £2,794;
Plumbing works £965;
electrical testing £450;
door lock £65| |Chipping
Clubroom|£1,352|£2,520|£1,168|Fire safety work £1,030;
plumbingwork £150| |---|---|---|---|---| |Other Property
Expenses|£668|£1343|£675|Heritage Centre fre
safetywork £1,248| |Insurance|£2,736|£3,432|£696|Buildings survey resulted
in valuationsincrease| |Miscellaneous
Payments|£2,619|£3,237|£618|Buildings Valuations
£2,950| Major expenses continue to be insurance, administration, cleaning and utilities. The increases in fire safety and plumbing works were as a result of fire safety and legionella audits. ## **Income** Significant variations are as follows: ||**31/3/2**
**2**|**31/3/**
**23**|**Difere**
**nce**|**Notes**| |---|---|---|---|---| |Town Hall
Lettings|£19,446|£10,8
60|-£8,586|£12,168 COVID Leisure grants received in
2022, which were standard sums issued
to all eligible businesses. The grants
ceased after COVID restrictions ended
but the diference is partially ofset by
hire fees following re-opening of building
afterCOVID lockdown.| |Chipping
Clubroom
Lettings|£12,
970|£2,33
5|-£10,
635|£12,168 COVID Leisure grants received in
2022, which were standard sums issued
to all eligible businesses. The grants
ceased after COVID restrictions ended
but diference partially ofset by hire fees
following re-opening of building after
COVID lockdown.| |Interest
received|£1|£751|£750|Increase in interest rates| |Unrealised
Proft on
Investments|£8,449|£0|-£1,156|Values down £1156 on 2022 fgures due
to fuctuations in the investments market,
particularly due to Coronavirus pandemic| |Miscellaneous
Income|£1,026|£0|-£1,026|Refunds received in 2022, not repeated in
2023| ## **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 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 Trustees Dated: ## **Wotton-under-Edge Town Trust** _Registered charity number 203466_ **Income and Expenditure Account for the Year Ended 31st March 2023** |**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 Investment Assets
Surplus/Defcit for the year
Cumulative Funds B/Fwd
Cumulative Funds C/Fwd|**3/31/2022**
£19,445.98
£9,000.00
£12,970.00
£2,356.00
£0.62
£626.10
£6,700.00
£8,449.34
£300.00
£0.00
£1,025.58
£60,873.62
£7,000.00
£5,034.07
£961.70
£3,367.86
£79.86
£2,255.93
£0.00
£1,352.00
£668.48
£2,735.50
£100.00
£298.00
£251.80
£2,619.00
£0.00
£26,724.20
£34,149.42
£134,082.26
£168,231.68
**£168,231.68**|**3/31/2023**
£10,860.15_Note 1_
£9,000.00
£2,334.50_note 2_
£2,356.00
£751.28_note 3_
£638.63
£6,700.00
0_Note 4_
£304.60
£0.00
£0.00_note 5_
£32,945.16
£8,750.00_note 6_
£7,759.56_note 7_
£9,446.92_note 8_
£4,385.93_note 9_
£58.00
£2,006.76
£4,273.59_note 10_
£2,519.79_note 11_
£1,343.14_note 12_
£3,432.13_note 13_
£100.00
£279_note 14_
£251.80
£3,236.50_note 15_
£1,156.25_note 4_
£48,999.37
-£16,054.21
£168,231.68
£152,177.47
**###**| |---|---|---| |Signed: Chairman
Responsible|Financial Ofcer|| ## **Wotton-under-Edge Town Trust** _Registered charity number 203466_ **Balance Sheet as at 31st March 2023** |**Investments**
Investments at Valuation
**Current Assets**
Unity Trust Current Account
Unity Trust Instant Access Account
Debtors (VAT recoverable)
**Total Assets**
**Current Liabilities**
Creditors
**Net Assets**
**Represented by:**
Accumulated Fund brought forward
Surplus/Defcit for the year|**3/31/2022**
£84,237.12
£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**|**3/31/2023**
£83,080.87
£1,988.07
£65,751.90
£1,563.63
£69,303.60
**###**
£207.00
**###**
£168,231.68
-£16,054.21
**###**| |---|---|---| |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 2023: |Income Shares
Accumulation Shares
Accumulation Shares
C G Peglar Fund
**Note 1**
**Town Hall Lettings**
COVID Grants Received
Lettings Fees
**Note 2**
**Chipping Clubroom Lettings**
COVID grants received
Lettings Fees
**Note 3**
**Interest**
**Note 4**
**Unrealised Loss on Investment Assets**
**Note 5**
**Miscellaneous Income**
Ecotricity Refund
Banking
**Note 6**
**Town Council Administration Fee**
**Note 7**
**Town Hall Caretaking/Cleaning**
Cleaning Supplies
Regular Cleaning
Extra contract cleaning|**Units**
1121.21
18.7366 £21,007.66
_£21,833.88_
184.71
229.1711 £42,330.19
_£42,507.03_
81.98
229.1711 £18,787.45
_£18,903.06_
51
18.7366
£955.57
_£993.15_
**###**
_£84,237.12_
**2021/22**
**2022/23**
£12,168.00
£0
£7,277.98
£10,860.15_Usage now increasing following COVID lockdowns_
£19,445.98
£10,860.15
**2021/22**
**2022/23**
£12,168.00
£0
£802.00
£2,334.50_Usage now increasing following COVID lockdowns_
£12,970.00
£2,334.50
**2021/22**
**2022/23**
£0.62
£751.28_Increase in interest rates_
Loss of £1156.25 on value of investments compared to 31/3/2022 due to fuctuations
in interest rates
**2021/22**
**2022/23**
£25.58_Town Hall_
£0
£1,000.00_Bank error reimb_
£0
£1,025.58
£0
Increase agreed by Town Trust
**2021/22**
**2022/23**
£177.63
£221.27
£4,856.44
£6,458.29_22/23 TUPE staf backdated admittance to pension scheme_
£0.00
£1,080.00_To cover staf absence_
£5,034.07
£7,759.56
**Value per**
**unit (£)**
**Total**
**Value at**
**31/3/2023**
**_Total Value_**
**_at_**
**_31/3/2022_**| |---|---| |**Note 8**
**Town Hall Maintenance/Misc Expenses**
Lift Maintenance
Plumbing Supplies/Other
Boiler Maintenance
Fire Systems Maintenance
Fire Curtain Maintenance
Refurb/Repairs to fooring
Electrical Works
Purchase of new freezer
Refunds
**Note 9**
**Town Hall Utilities**
Electricity
Gas
Water/Sewerage
**Note 10**
**Chipping Hall**
Fire Safety Services
Plumbing Works
Electrical testing
Door lock
**Note 11**
**Chipping Clubroom**
Cleaning
Utilities
Fire Systems Maintenance
Sundries
Plumbing Works
**Note 12**
**Other Properties Expenses**
Heritage Centre
Heritage Centre
**Note 13**
**Insurance**|**2021/22**
£214.60
£165.80
£125.00
£166.30
£190.00
£0.00
£0.00
£0.00
£100.00
£961.70
**2021/22**
£1,119.71
£1,854.12
£394.03
£3,367.86
**2021/22**
£0.00
£0.00
£0.00
£0.00
£0.00
**2021/22**
£858.56
£420.20
£20.00
£53.24
£0.00
£1,352.00
**2021/22**
£0.00
£668.48
£668.48
Sums insured increased fol|**2022/23**
£861.19_22/23 repairs needed_
£289.23
£135.00
£1,561.39_Works following fre safety audit_
£2,721.00
£2,996.26
£593.10
£181.75
£108.00
£9,446.92
**2022/23**
£2,336.93_22/23 includes delayed 21/22 payments_
£1,035.59
£1,013.41_Increase in usage following COVID restrictions_
£4,385.93
**2022/23**
£2,793.80_Works following fre safety audit_
£964.99_Works following Legionella audit_
£450.00
£64.80
£4,273.59
**2022/23**
£865.68
£335.05
£1,030.48_Works following fre safety audit_
£138.38
£150.20_Works following Legionella audit_
£2,519.79
**2022/23**
£94.68_Fire signs, lock, fue outlet cover_
£1,248.46_Fire safety works_
£1,343.14
lowing building valuations| |---|---|---| Sums insured increased following building valuations |**Note 14**||| |---|---|---| |**Audit Fees/Bank Charges**||| |**Creditors from Financial Year 2021/22**||| |Audit Accrual|£207.00|| |**_Deduction from Audit Figure_**||**_£207.00_**| |**Creditors from Financial Year 2022/23**||| |Audit Accrual|£207.00|| |**_Addition to Audit Figure_**||**_£207.00_**| |**Note 15**
**Miscellaneous Payments**
Buildings Valuations
Plaque for The Clump
Health & Safety Contract
Deposit to open Unity Trust accounts|**2021/22**
£0.00
£0.00
£1,619.00
£1,000.00_Refunded_
£2,619.00|**2022/23**
£2,950.00
£286.50
£0.00
£0.00| |---|---|---| |||£3,236.50| ## **Earmarked Funds** To Benefit the Elderly £544.00 _From Chipping Clubroom Trust Funds_ Andrea Durn Clerk to the Council Wotton Town Council Civic Centre 2 Gloucester Street Wotton-under-Edge Gloucestershire GL12 7DN 1[st] June 2023 ## **Wotton Town Trust Independent Internal Audit 2022/23** Dear Andrea, Further to my site visit on 30[th] May 2023, 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 audit of the Town Trust for 2022-2023. 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 respect. My only comments are those of an analytical nature in that the movement from a previous Surplus to a Deficit for the year compared to 2021-2022 can be summarised on the following page, accompanying notes for which are below: - _(1) – Covid Grants amounting to £24,336 included in 2021-22_ - _(2) - Additional costs incurred arising from Fire Safety and Legionella Audits_ Continued…… Your Finance Dept.Biz Limited (Reg. No. 07858004) 9 Court Orchard, Wotton-under-Edge, Gloucestershire GL12 7JB **Tel: 0333 1236321** , E mail: steve@iamyourfinancedirector.co.uk, Twitter: @yourfinancedept www.iamyourfinancedirector.co.uk ## Continued…… ## **Summary of significant movements in Income and Expenditure 2022-23** ||**£’000’s **| |---|---| |Reduced Town Hall Lettings (1)|8.6| |ReducedChipping Clubroom lettings(1)|10.6| |Town Council Admin Fee|1.8| |Town Hall Caretaking / Cleaning|2.7| |Town Hall Maintenance (2)|8.5| |Town Hall Utilities|1.0| |Chipping Hall (2)|4.3| |Chipping Clubroom (2)|1.2| |Other net differences|1.9| |**Reduction of Operational Surplus**|**40.6**| |Unrealised Investments revaluation|9.6| |**Reduction of Surplus for the year**|**50.2**| Yours sincerely ## **S A Tasker FCMA / CGMA** Your Finance Dept.Biz Limited (Reg. No. 07858004) 9 Court Orchard, Wotton-under-Edge, Gloucestershire GL12 7JB **Tel: 0333 1236321** , E mail: steve@iamyourfinancedirector.co.uk, Twitter: @yourfinancedept www.iamyourfinancedirector.co.uk