## **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 tranS￿tionS 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: @yoUrfinan￿dept