WOTTON-UNDER-EDGE TOWN TRUST Charity Number 203466
TRUSTEES ANNUAL REPORT FOR THE FINANCIAL YEAR ENDING 31[ST] MARCH 2025
Trustees
Wotton-under-Edge Town Council is the Trustee of Wotton-under-Edge Town Trust. The Town Council at 31[st] March 2025 was comprised of the following members:
Mr P Barton Mr R Halpin Mr D Thomas Mr R Claydon OBE Mr J Lewis Ms J Tyler Dr J Cordwell Mr P Smith (Chairman)
Overview
The year 2024-2025 has seen a decrease in income of £6357 from the previous financial year, plus an increase of £18,783 in expenditure over the same period. The deficit for the year was £23,384 with end of year cumulative funds decreasing to £130,551. 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:
| 31/3/2024 | 31/3/202 5 |
Diference | Notes | |
|---|---|---|---|---|
| Town Hall Caretaking/Cleaning |
£9621 | £7620 | -£2001 | Contract cleaning of £2000 to cover staf absence in FY23/24, reduced to £92 in FY24/25. |
| Town Hall Maintenance/Misc. Expenses |
£5641 | £9318 | £3677 | FY24/25 saw an increase of £5327 due to electrical testng and associated works, plus replacement of obsolete lightng. This was partally ofset by a reducton in plumbing/heatng maintenance of £2000. |
| Town Hall Utlites | £5358 | £6884 | £1526 | FY24/25 was the frst full year of the new gas/electricity contracts, which were at a higher rate than previously; plus winter 24/25 saw a long cold spell requiring increased heatng. |
| Chipping Hall | £1693 | £14369 | £12676 | Extensive refurbishment/replacement of cast iron gutering and downpipes undertaken in FY24/25 |
| Youth Centre | £1611 | £2389 | £778 | Electrical testng and increased cost of fre systems maintenance in FY24/25 |
| Unrealised loss on Investment Assets |
£0 | £2231 | £2231 | Values down on FY23/24 fgures due to fuctuatons in the investments market |
|
|---|---|---|---|---|---|
Major expenses continue to be insurance, administration, maintenance, cleaning and utilities.
Income
Significant variations are as follows:
| 31/3/24 | 31/3/25 | Diference | Notes | |
|---|---|---|---|---|
| Town Hall Letngs | £8837 | £12332 | £3495 | Major booking held every 2 years, not held in FY23/24 |
| Unrealised Proft on Investments |
£9702 | £0 | -£9702 | Values down on FY23/24 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, although the costs of doing so have significantly increased. 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 2025
| 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 |
31/03/2024 £8,837.00 £9,000.00 £2,044.00 £2,356.00 £1,616.77 £638.63 £6,700.00 £9,702.07 £300.00 £0.00 £92.00 £41,286.47 £8,750.00 £9,621.28 £5,641.49 £5,357.68 £72.78 £1,610.55 £1,692.85 £1,770.77 £923.86 £3,218.56 £100.00 £285.00 £301.80 £183.00 £0.00 £39,529.62 £1,756.85 £152,177.47 £153,934.32 £153,934.32 |
31/03/2025 £12,331.61 Note 1 £9,000.00 £2,393.00 £2,356.00 £1,192.39 note 2 £651.39 £6,700.00 £0.00 Note 3 £304.60 £0.00 £0.00 £34,928.99 £8,750.00 £7,619.76 note 4 £9,317.69 note 5 £6,883.76 note 6 £108.60 £2,389.43 note 7 £14,368.90 note 8 £2,184.84 note 9 £406.84 note 10 £3,416.22 £100.00 £284.40 note 11 £251.80 £0.00 £2,230.51 note 3 £58,312.75 -£23,383.76 £153,934.32 £130,550.56 £130,550.56 |
|---|---|---|
| Signed: Chairman Responsible Financial Officer |
Wotton-under-Edge Town Trust
Registered charity number 203466 Balance Sheet as at 31st March 2025
| 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 |
31/03/2024 £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 |
31/03/2025 £90,552.43 £6,925.85 £31,561.06 £1,724.22 £40,211.13 £130,763.56 £213.00 £130,550.56 £153,934.32 -£23,383.76 £130,550.56 |
|---|---|---|
| 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 2025:
| Income Shares Accumulation Shares Accumulation Shares C G Peglar Fund Note 1 Town Hall Lettings Lettings Fees Note 2 Interest Note 3 Unrealised Loss on Investment Assets Note 4 Town Hall Caretaking/Cleaning Cleaning Supplies Regular Cleaning Extra contract cleaning Note 5 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 Water Heater Other Maintenance Partition Walls Maintenance |
Units Value per unit (£) Total Value at 31/3/2025 Total Value at 31/3/2024 1121.21 19.4806 £21,841.84 £22,909.24 186.3895 251.9601 £46,962.72 £47,706.46 82.3716 251.9601 £20,754.36 £21,125.18 51 19.4806 £993.51 £1,042.06 £90,552.43 £92,782.94 2023/24 2024/25 £8,837.00 £12,331.61 Major booking held every 2 years, not held in 23/24 2023/24 2024/25 £1,616.77 £1,192.39 Reduction in savings so less interest earned Loss of £2230.51 on value of investments compared to 31/3/2024 due to fluctuations in interest rates 2023/24 2024/25 £258.89 £136.08 £7,362.39 £7,391.68 Increase in wages and full year of pension scheme £2,000.00 £92.00 To cover staff absence £9,621.28 £7,619.76 2023/24 2024/25 £345.40 £485.21 £2,180.17 £180.00 23/24 £2008 plumbing/heating maintenance £140.00 £160.00 £358.78 £909.05 £700.00 £700.00 £600.00 £0.00 £0.00 £5,327.24 24/25 replacement of obsolete lighting/electrical testing £924.99 £0.00 23/24 one-off purchase £392.15 £538.19 £0.00 £1,018.00 £5,641.49 £9,317.69 |
|---|---|
| Note 6 Town Hall Utilities Electricity Gas Water/Sewerage Note7 Youth Centre Electricity Cleaning Fire systems Maintenance Electrical Testing Other Note 8 Chipping Hall Fire Safety Services Building Survey Maintenance Work Fire Safety Door Push Bars Note 9 Chipping Clubroom Cleaning Utilities Fire Systems Maintenance Sundries Electrical Testing Plumbing Works Note 10 Other Properties Expenses Heritage Centre Note 11 Audit Fees/Bank Charges |
2023/24 £1,947.30 £2,573.37 £837.01 £5,357.68 2023/24 £356.29 £867.15 £186.07 £0.00 £201.04 £1,610.55 2023/24 £485.85 £357.00 £850.00 £0.00 £1,692.85 2023/24 £867.16 £475.12 £72.45 £131.04 £0.00 £225.00 £1,770.77 2023/24 £923.86 |
2024/25 £3,200.69 New 2 year contract in Dec 23 with big increase in unit rate £3,026.07 New 2 year contract in Dec 23 with big increase in unit rate £656.90 £6,883.66 2024/25 £463.44 £919.57 £352.65 £350.00 £303.77 £2,389.43 2024/25 £493.94 £0.00 Structural engineering check on mezzanine £13,700.00 £174.96 £14,368.90 2024/25 £919.63 £541.59 £249.85 £133.77 £250.00 £90.00 £2,184.84 2024/25 £406.84 Fire safety/plumbing works lubroom Trust Funds |
|---|---|---|
| Creditors from Financial Year 2023/24 Audit Accrual Deduction from Audit Figure |
£213.00 £213.00 |
|
| Creditors from Financial Year 2024/25 Audit Accrual Addition to Audit Figure |
£213.00 £213.00 |
|
| Earmarked Funds To Benefit the Elderly |
£544.00 From Chipping C |
bour Finance J . Your Finance Director Andrea Du Clerk to the Council Wotton Town Council Civic Centre 2 tiloucester Street Wotton-under-Edge Gloucestershire GLI 2 7DN 23° May 2024 Wotton Town Trust Independent Internal Audit 2024125 Dear Andrea, Furtb¢r to my site visit on 20, May 2025. may I first of all express my thanks to yourself and Yasrnin for the continiied organiscd Provision of the necessary records and documents to assist with the audit of the Town Trust for 2024-2025. y review of the accounts and records revealed consistency with prior year's compliance, and I'm satisfjed that they give a true and fair view of the tranStionS for the financial year and the Town Council is meeting its duties as Trustees in ihis respect. My only fQTnments are those of an dnalytical nature in that the movement from a PTevious Surplus of £1.757 for 2023-24 to a Def1Clt for the year of £23,384 due mainly to the increase in costs of £18.783 aDd the net reduction in Investment Asset valuations of £1 1,932. The remaining mov¢m¢nts ar¢ summarised OT] tbe following page. our Inance Iz Imi Court Orchard. Wotton-under-Edge, Gloucestershire GL12 7IB CIMA el: 0333 1236321. E mall.. witter.. @yourfinanccdept .Icim&'nii
Your f4lliance biz Your Finance Director Continued...... Continued... Summary of significant movements in Income and Expenditure 202425 £'OOO's Increascd Town Hall Lcttin Town Hall Caretakin / Cle&nin Town Hall Matntenance Town Hall Utilities Chi in Hall Other net differences Dccrease in O erational Sur lus Unrealised Inveslmcnt5 revaluation Decrease in Overall Sur lus for the 13.0 13.3 11.9 25.1 ear Yours sincerely S A Tasker FCMA I CGMA CIMA Court Orchard, Wotton-under-Edge, Gloucestershire GL12 7IB el.. 0333 1236321, E rnail: witter: @yoUrfinandept