## **WOTTON-UNDER-EDGE TOWN TRUST Charity Number 203466** ## **TRUSTEES ANNUAL REPORT FOR THE FINANCIAL YEAR ENDING 31[ST] MARCH 2024** ## **Trustees** Wotton-under-Edge Town Council is the Trustee of Wotton-under-Edge Town Trust. The Town Council at 31[st] March 2024 was comprised of the following members: Mr P Barton Mr R Claydon OBE Dr J Cordwell Mrs T Creese Ms S Hunt Mr D Thomas Mr J Lewis Mr M Tucker (Chairman) Mr N Pinnegar Mr J Turner ## **Overview** The year 2023-2024 has seen an increase in income of £8341 from the previous financial year, plus a decrease of £9469 in expenditure over the same period. The surplus for the year was £1757 with end of year cumulative funds increasing to £153,934. **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: ||**31/3/2023**|**31/3/202**
**4**|**Diference**|**Notes**| |---|---|---|---|---| |Town Hall
Caretaking/Cleaning|£7760|£9621|£1861|Increased cleaning costs due to
staf wage increases plus full
year in pension scheme; and
contract cleaning of £2000 to
cover staf absence.| |Town Hall
Maintenance/Misc.
Expenses|£9447|£5641|-£3806|FY23/24 saw an increase of
£1891 in plumbing/heatng
maintenance but ofset by
signifcant reductons in fre
systems maintenance of £3223;
and foor repairs of £2396| |Town Hall Utlites|£4386|£5358|£972|Gas account in credit in FY22/23
so fewerpayments in thatyear.| |Chipping Hall|£4274|£1693|-£2581|Additonal work required in
FY22/23 following fre safety
audit and legionella audit
totalling £3759. In FY23/24 roof
repairs £850; and structural
engineering check on
mezzanine foor £357| |Chipping Clubroom|£2520|£1771|-£749|Fire safety work £1,030 in
FY22/23 followingsafetyaudit.| |Miscellaneous
Payments|£3237|£183|-£3054|Buildings Valuatons £2,950 in
FY22/23, not repeated in
FY23/24| Major expenses continue to be insurance, administration, maintenance, cleaning and utilities. ## **Income** Significant variations are as follows: ||**31/3/23**|**31/3/24**|**Diference**|**Notes**| |---|---|---|---|---| |Town Hall Letngs|£10,860|£8837|-£2023|Major booking held every 2 years, not
held in FY23/24| |Interest received|£751|£1617|£866|Increase in interest rates| |Unrealised Proft on
Investments|£0|£9702|£9702|Values up on 2023 fgures due to
fuctuatons in the investments market| ## **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. Two of its buildings, namely the Town Hall and the Chipping Hall, both of which are listed, require major maintenance work, which is expected to start in 2025. A contractor has been appointed to manage preparations for the repairs and efforts are ongoing to progress the projects as soon as possible. The costs for this will be met by Wotton-under-Edge Town Council. Other properties are in reasonable order and all continue to be used by a wide cross-section of the public for a variety of recreational purposes. 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 2024** |**Income**
Town Hall Lettings
Chipping Hall Rent
Chipping Clubroom Lettings
Other Lettings
Interest Received
Income from Other Investments
Donation by Wotton Town Council
Unrealised Profits 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/Deficit for the year
Cumulative Funds B/Fwd
Cumulative Funds C/Fwd|**31/03/2023**
£10,860.15
£9,000.00
£2,334.50
£2,356.00
£751.28
£638.63
£6,700.00
0
£304.60
£0.00
£0.00
£32,945.16
£8,750.00
£7,759.56
£9,446.92
£4,385.93
£58.00
£2,006.76
£4,273.59
£2,519.79
£1,343.14
£3,432.13
£100.00
£279
£251.80
£3,236.50
£1,156.25
£48,999.37
-£16,054.21
£168,231.68
£152,177.47
**£152,177.47**|**31/03/2024**
£8,837.00 _Note 1_
£9,000.00
£2,044.00 _note 2_
£2,356.00
£1,616.77 _note 3_
£638.63
£6,700.00
£9,702.07 _Note 4_
£300.00
£0.00
£92.00
£41,286.47
£8,750.00
£9,621.28 _note 5_
£5,641.49 _note 6_
£5,357.68 _note 7_
£72.78
£1,610.55
£1,692.85 _note 8_
£1,770.77 _note 9_
£923.86 _note 10_
£3,218.56
£100.00
£285.00 _note 11_
£301.80
£183.00 _note 12_
£0.00 _note 4_
£39,529.62
£1,756.85
£152,177.47
£153,934.32
**£153,934.32**| |---|---|---| |Signed: Chairman
Responsible Financial Officer||| ## **Wotton-under-Edge Town Trust** _Registered charity number 203466_ **Balance Sheet as at 31st March 2024** |**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/Deficit for the year|**31/03/2023**
£83,080.87
£1,988.07
£65,751.90
£1,563.63
£69,303.60
**£152,384.47**
£207.00
**£152,177.47**
£168,231.68
-£16,054.21
**£152,177.47**|**31/03/2024**
£92,782.94
£2,256.45
£58,368.67
£739.26
£61,364.38
**£154,147.32**
£213.00
**£153,934.32**
£152,177.47
£1,756.85
**£153,934.32**| |---|---|---| |Approved by Wotton-under-Edge Town Trust:
Signed: Chairman
Responsible Financial Officer
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 2024: |Income Shares
Accumulation Shares
Accumulation Shares
C G Peglar Fund
**Note 1**
**Town Hall Lettings**
Lettings Fees
**Note 2**
**Chipping Clubroom Lettings**
Lettings Fees
**Note 3**
**Interest**
**Note 4**
**Unrealised Profit on Investment Assets**
**Note 5**
**Town Hall Caretaking/Cleaning**
Cleaning Supplies
Regular Cleaning
Extra contract cleaning
**Note 6**
**Town Hall Maintenance/Misc Expenses**
Lift Maintenance
Plumbing Works/ Supplies/Other
Boiler Maintenance
Fire Systems Maintenance
Fire Curtain Maintenance
Refurb/Repairs to flooring
Electrical Works
Purchase of new freezer
Water Heater
Other Maintenance
Refunds|**Units**
**Value per**
**unit (£)**
**Total Value**
**at**
**31/3/2024**
**_Total Value_**
**_at_**
**_31/3/2023_**
1121.21
20.4326 £22,909.24 _£21,007.66_
185.58
257.0668 £47,706.46 _£42,330.19_
82.1778
257.0668 £21,125.18 _£18,787.45_
51
20.4326
£1,042.06
_£955.57_
**£92,782.94** **_£83,080.87_**
**2022/23**
**2023/24**
£10,860.15
£8,837.00 _Major booking held every 2 years, not held in 23/24_
**2022/23**
**2023/24**
£2,334.50
£2,044.00 _Decrease in usage_
**2022/23**
**2023/24**
£751.28
£1,616.77 _Increase in interest rates_
Profit of £9702.26 on value of investments compared to 31/3/2023 due to fluctuations
in interest rates
**2022/23**
**2023/24**
£221.27
£258.89
£6,458.29
£7,362.39 _Increase in wages and full year of pension scheme_
£1,080.00
£2,000.00 _To cover staff absence_
£7,759.56
£9,621.28
**2022/23**
**2023/24**
£861.19
£345.40 _22/23 repairs needed_
£289.23
£2,180.17 _23/24 £2008 plumbing/heating maintenance_
£135.00
£140.00
£1,561.39
£358.78 _Works following fire safety audit in 2022/23_
£2,721.00
£700.00
£2,996.26
£600.00
£593.10
£0.00
£181.75
£0.00
£0.00
£924.99
£0.00
£392.15
£108.00
£0.00
£9,446.92
£5,641.49| |---|---| |**Note 7**
**Town Hall Utilities**
Electricity
Gas
Water/Sewerage
**Note 8**
**Chipping Hall**
Fire Safety Services
Plumbing Works
Electrical testing
Building Survey
Maintenance Work
Door lock
**Note 9**
**Chipping Clubroom**
Cleaning
Utilities
Fire Systems Maintenance
Sundries
Plumbing Works
**Note 10**
**Other Properties Expenses**
Heritage Centre
Heritage Centre|**2022/23**
£2,336.93
£1,035.59
£1,013.41
£4,385.93
**2022/23**
£2,793.80
£964.99
£450.00
£0.00
£0.00
£64.80
£4,273.59
**2022/23**
£865.68
£335.05
£1,030.48
£138.38
£150.20
£2,519.79
**2022/23**
£94.68
£1,248.46
£1,343.14|**2023/24**
£1,947.30 _22/23 includes delayed 21/22 payments_
£2,573.37 _Account in credit from FY21/22 so fewer payments in FY22/23_
£837.01
£5,357.68
**2023/24**
£485.85 _FY22/23 Works following fire safety audit_
£0.00 _FY 22/23 Works following Legionella audit_
£0.00
£357.00 _Structural engineering check on mezzanine_
£850.00 _Roof repairs_
£0.00
£1,692.85
**2023/24**
£867.16
£475.12
£72.45 _22/23 Works following fire safety audit_
£131.04
£225.00
£1,770.77
**2023/24**
£0.00 _22/23 Fire signs, lock, flue outlet cover_
£923.86 _Fire safety works_
£923.86| |---|---|---| ## **Note 11** ## **Audit Fees/Bank Charges** |**Creditors from Financial Year 2022/23**
Audit Accrual
**_Deduction from Audit Figure_**|£207.00
**_£207.00_**|| |---|---|---| |||| |**Creditors from Financial Year 2023/24**
Audit Accrual
**_Addition to Audit Figure_**|£213.00
**_£213.00_**|| |**Note 12**
**Miscellaneous Payments**
Buildings Valuations
Plaque for The Clump
NCVO Subscription
Transfer-payment made to Trust instead of Council|**2022/23**
£2,950.00
£286.50
£0.00
£0.00
£3,236.50|**2023/24**
£0.00
£0.00
£141.00
£42.00| |||£183.00| ## **Earmarked Funds** To Benefit the Elderly £544.00 _From Chipping Clubroom Trust Funds_ Your Finan ep Yoiii. Finaiiee Director Andrea Durn Clerk to the Council Wotton Town Council Civic Centre 2 Gloucester Street Wotton-under-Edge Gloucestershire GL12 7DN 28. May 2024 Wotton Town Trust Independent Internal Audit 2023124 Dear Andrea, Further to my site visit on 23 May 2024, may l 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 Tn￿teeS in this respect. My only conlments are those of an analytical nature tn that the movement from a previous Deficit of £16,054 for 2022-23 to a Surplus for the year of £1,757. In summary. a large part of the £17,811 improvement is down to the movement of Investment Assets valuations of £10,858. The remaining movements are summarised on the following page. Continued.. ur Finante DepLBlz:.Liinitéd (Re& No. 07858004) Court Orchard, Wotton-under-Edge, Gloucestershire CIMA Tel: 0333 1236321. E mail- %tL V T￿￿tter. @yourfinancedept i.uk Your Finance :. . , Youi" Finance Director Continued...... Summary of significant movements in In¢ome and Expenditure 2023-24 £'OOO's Reduced Town Hall Lettin Reduced Chipping Clubroom lettings Town Hall CaTetakin / Cleanin Town Hall Maintenance Town Hall Utilities Chi in Hall Chi in Clubr(K)m Miscellaneous Pa ments Other net differences Increase in O erational Sur lus Unrealised Investments revaluation Increase in Overall Sur lus for the 10.9 17.8 ear Yours sincerely S A Tasker FCMA I CGMA ur..FlQa:ityPeptBiz Lirtiited (Re& No: 07858004) . . -. 9 Court Orchard, Wotton-under-Edge, Gloucestershire GL12 7JB i Tel. 0333 1236321, E mail: :;tL'V Twitter.. @yourfinancedept