ALLOTMENT IN LIEU OF COMMON RIGHTS
also known as
CHESHUNT COMMON RIGHTS TRUST (Registered as a Charity Number 205824)
ACCOUNTS FOR THE YEAR ENDED 30th SEPTEMBER 2023
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ALLOTMENT IN LIEU OF COMMON RIGHTS also known as CHESHUNT COMMON RIGHTS TRUST (Registered as a Charity Number 205824)
ACCOUNTS FOR THE YEAR ENDED 30th SEPTEMBER 2023
The Allotment in Lieu of Common Rights is constituted by Act of Parliament dated 6th December 1813 and by Order of the High Court on 12th June 1941.
The trustees who served during the year ended 30th September 2023 were:-
Mr P Seeby Mr M Scott Mr B Claxton Mr A Morrison Mr S Sorce Rev'd E. Hanshaw
Trustees are appointed by the Local Authority, currently the Borough of Broxbourne.
The address of the Charity is 20 Pollards Close, Goffs Oak, Hertfordshire EN7 5JP.
The object of the Charity is to distribute annually to successors by residence of the original cottagers, income arising from lands formerly Common at Cheshunt.
During the year, the Trustees declared a dividend for distribution of £30 per right.
On behalf of the Trustees:
J Pearce ~ Trustee Date: 2024
M Scott ~ Trustee Date: 2024
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ALLOTMENT IN LIEU OF COMMON RIGHTS also known as CHESHUNT COMMON RIGHTS TRUST (Registered as a Charity Number 205824)
ACCOUNTS FOR THE YEAR ENDED 30th SEPTEMBER 2023
STATEMENT OF TRUSTEES' RESPONSIBILITIES
30th SEPTEMBER 2023
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the profit or loss of the charity for that period. In preparing those financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with resonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ALLOTMENT IN LIEU OF COMMON RIGHTS
Also known as CHESHUNT COMMON RIGHTS TRUST A registered Charity No 205824 BALANCE SHEET AS AT 30th SEPTEMBER 2023
| Notes £ £ INVESTMENTS Charities Official Investment Fund 3 73,351 3963.43 income shares M&G Investments Charifund 27,395 1914.374 income shares 100,746 CURRENT ASSETS Debtors and prepayments 697 Other debtors 4,943 5,640 Cash at bank: CAF Gold account 92,396 Virgin Money account 26,647 Shawbrook Bank 1 year fixed term deposit account 33,085 CafCash account 28 157,797 CURRENT LIABILITIES Payable within one year Creditors and accruals (12,198) (12,198) 145,599 NET CURRENT ASSETS 246,345 UNCLAIMED DIVIDENDS (2003 to 2023 inclusive) (5,737) NET ASSETS £ 240,608 PERMANENT ENDOWMENT 3 34,469 RESERVE FUND 4 20,193 GENERAL FUND 185,946 £ 240,608 2023 |
£ 85 2,736 2,821 32,588 26,541 32,855 62 94,867 (8,548) (8,548) |
£ 72,399 26,263 98,662 86,319 184,981 (4,490) £ 180,491 34,469 19,903 126,119 £ 180,491 2022 |
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Approved on behalf of the trustees on the
J Pearce ~ Trustee
M Scott ~ Trustee
Date: 2024
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ALLOTMENT IN LIEU OF COMMON RIGHTS
Also known as CHESHUNT COMMON RIGHTS TRUST A registered Charity No 205824 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30th SEPTEMBER 2023
| £ £ INCOMING RESOURCES Charities Official Investment Fund 2,159 M&G Investments Charifund 1,618 Bank deposit interest 1,363 Sundry income - Lease premium income 61,940 Rent receivable: Mrs Toms - Hertfordshire County Council 1,441 Arqiva 5,783 Rafferty & Lamb 85 Cornwell/Moxham 557 Wayleaves 98 Mr Tony Thomas 2,355 Robert Parr 3,476 Jennifer Giles 616 Eastern Power 14 Stefan Moore 1,054 82,559 EXPENDITURE Direct charitable expenditure: Dividends declared during the year 5,490 5,490 Agent's fees and commissions 2,880 Repairs and maintenance 3,625 Telephone 42 Clerk's remuneration 5,000 Postage, stationery and computer expenses 597 Transport 199 Accountancy fees 1,888 Insurance 414 Sundry 90 Bank charges 95 Legal and professional 4,495 19,326 24,816 NET INCOMING RESOURCES 57,743 FUNDS brought forward 126,119 183,862 Revaluation of Investments held 2,083 FUNDS transfer to Permanent Endowment Fund - FUNDS available for dividend carried forward £ 185,946 2023 |
£ £ 2,143 1,512 87 - - 3,000 934 6,158 335 264 98 3,033 - - - - 17,564 5,490 5,490 1,620 - 44 3,000 390 103 1,716 412 164 113 4,745 12,307 17,797 (233) 134,144 133,911 (7,792) - £ 126,119 2022 |
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ALLOTMENT IN LIEU OF COMMON RIGHTS
Also known as CHESHUNT COMMON RIGHTS TRUST A registered Charity
No 205824 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30th SEPTEMBER 2023
1 ACCOUNTING POLICIES
These accounts have been prepared under the historical cost convention and in accordance with applicable accounting standards and the Charities SORP (Statement of Recommended Practice "Accounting by Charities")
FIXED ASSETS
The Common Land from which the Charity derives its income is not capitalised in these accounts as the Trustees are empowered to hold the land in perpetuity by Act of Parliament,
| 3 | PERMANENT ENDOWMENT FUND Original investment of COIF shares Proceeds arising from compensation for land encroachment Interest accrued on proceeds held in respect of compensation for land encroachment Adjustment from General Fund to reflect the proceeds received in the year ended 30/09/05 in respect of grant of easement |
2023 £ 800 27,500 169 6,000 34,469 |
2022 £ 800 27,500 169 6,000 34,469 |
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The Permanent Endowment Fund represents funds that must be retained permanently by the Trust. Income from the fund can be used in accordance with the objectives of the charity.
The market value of the fund at 30 September 2023 was £73,351 (2022: £72,399)
| 4 | RESERVE FUND Opening balance Unclaimed dividends for 2002/03 Prior years dividends adjustments recommendations Closing balance |
2023 19,903 290 20,193 |
2022 19,603 300 19,903 |
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Reserve funds are available for use at the discretion of the trustees. The Trustees have adopted a policy of prudence in respect of the reserve fund to ensure that funds are available to cover the future expenditure of the Trust.
5 TRUSTEES' REMUNERATION AND EXPENSES
No remuneration directly or indirectly out of the funds of the Charity was paid or is payable for the year to any Trustee or to any person or persons known to be connected with any of them.
No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the year.
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CHARTERED ACCOUNTANTS REPORT TO THE TRUSTEES OF
ALLOTMENT IN LIEU OF COMMON RIGHTS
Also known as CHESHUNT COMMON RIGHTS TRUST A registered Charity No 205824
FOR THE YEAR ENDED 30 SEPTEMBER 2023
In accordance with the engagement letter we have prepared for your approval the financial statements of Cheshunt Common Rights Trust for the year ended 30 September 2023 on pages 1 to 5 from the accounting records and information and explanations you have given us.
This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare, for your approval, the financial statements of The Cheshunt Common Rights Trust and state those matters that we have agreed to state to you in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than you for our work or for our report.
You have approved the financial statements for the year ended 30 September 2023 and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation.
We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
AZETS 5 Yeomans Court Ware Road Hertford Herts SG13 7HJ
Date: 2024