## **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**
Page 1
## **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
Page 2
**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.
Page 3
## **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|
|---|---|---|
Approved on behalf of the trustees on the
J Pearce ~ Trustee
M Scott ~ Trustee
Date: 2024
Page 4
## **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|
|---|---|
Page 5
## **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|
|---|---|---|---|---|
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|
|---|---|---|---|---|
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.
Page 6
## **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