REGISTERED CHARITY NUMBER: 206095
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
FOR
WALBERSWICK COMMON LANDS CHARITY
van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2020
| Page | |
|---|---|
| Chairman's Report | 1 |
| Report of the Trustees | 9to 10 |
| Independent Examiner's Report | 11 |
| Statement of Financial Activities | 12 |
| Statement of Financial Position | 13 |
| Notes to the Financial Statements | 14to 19 |
| Detailed Statement of Financial Activities | 20 |
CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
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1. 2020 Overview
EXPENSES ³
ADMINISTRATION
£53,370 ↓ -28%
& MAINTENANCE
ENVIRONMENTAL
STEWARDSHIP
£22,931 ↓ -4%
Walberswick Common
INCOME
Walberswick Marshes
Land & Buildings
Natural England ESA
Property rents
Lease premiums
Car parking ⁴
Track & Manor Fields
Annual licences £11,500 – 0%
Agricultural agreement
Access licences
Sale of easements
Stewardship CHARITABLE
Natural England CSA GRANTS £5,812 ↑ +89%
Donations
Support to individuals
CHARITABLE
Unrestricted income:
GRANTS
£153,750
↓ -11% Support to: £45,527 ↑ +6%
Charities
Restricted income:
Education
£22,638
↓ -27% Groups
Projects
All grants exclusively for TOTAL CHARITABLE
the benefit of GRANTS
Walberswick community £51,339 ↑ +12%
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RESERVES ⁵
Unrestricted reserves: £197,990 ↓ -12% Restricted reserves: £36,338 ↓ -25%
Notes:
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All figures sourced from financial statements to 31 December 2020
-
Percentages show 2020 compared to 2019
-
Expenses exclude any movement in the valuation of investments
-
Agreement with Blois Farms on farming practices adjoining Village
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Reserves show net current assets, i.e. liquid funds available to the Charity.
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
2. Introduction
On behalf of my fellow Trustees I have pleasure in submitting the Charity’s annual report and accounts for the year ending 31 December 2020. Like everyone in our community, 2020 was a year dominated by the global pandemic. We started the year anticipating 7 Trustee meetings and 2 sub-committee meetings. We ended the year having held 19 Trustee meetings and 10 sub-committee meetings!
Our principal concern from the pandemic was to protect the vulnerable in our community; Trustee Hannah Sutton took the lead role on this initiative and her report is below. Our secondary concerns were solvency of the Charity, given our reliance on rents and car parking for our income. Plus, when the first lockdown ended, the impact on our community of increased visitor numbers arising from the boom in domestic tourism. As it turned out, this boom meant our concerns over solvency were unfounded and the Charity was able to slightly increase its surplus and charitable grants.
3. Financial statements
The Charity’s accounts are prepared on an accrual accounting basis. This means that income and expenditure is recognised at the time transactions occur, rather than when payment is made or received.
EXPLANATION
CLASSIFICATION OF FUNDS Unrestricted Funds may be used for any purpose provided it complies with the Charities Act and the Charity’s Scheme. For example, property rents. Restricted Funds may only be used for the purpose intended, until that purpose has been met. For example, donations received for the Heritage Hut.
Unrestricted funds
Unrestricted income was £153,750 a decrease of £18,053 (-11%) compared to 2019. This decrease was a combination of two factors. A reduction of £51,492 in income received from easements and lease premiums compared to 2019, when there were significant one-off items. However over half of this reduction was offset by an increase in the covenanted payment received from Walberswick Car Parks Limited (WCPL) of £27,128.
The total covenanted payment received from WCPL was £70,337, an increase of 63% on the previous year. The Trustees would like to thank the Directors and Operations Manager of the Company for achieving a record year and for the excellent job they do for the Charity, the community and our visitors. Particularly as 2020 was very challenging due to the increase in domestic tourism arising from the pandemic.
Administration and maintenance expenses fell by 28% to £53,370. This welcome reduction was largely due to professional fees falling by 37% compared to 2019, when they were very high due to resolution of the Serious Incident disclosed in last year’s accounts. Nevertheless, professional fees are still high at 24% of unrestricted income. This reflects costs associated with incorporation of the Charity (see report below) and an ongoing property rights issue. The Trustees expect these costs will begin to stabilise at more normal levels from 2022 onwards.
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
The Charity generated a surplus of £100,380 before charitable grants, a small increase of 3% on the previous year. This increase was due to the fall in income being offset by a greater fall in expenditure. The Trustees made total charitable grants of £51,339 thereby distributing 51% of the Charity’s surplus, compared to 47% in 2019.
Restricted funds
Restricted income was £22,638, a reduction of 27% compared to 2019. This apparent reduction was due to payments received from Natural England in 2019 being artificially high due to receiving a catchup payment from 2018.
Total expenditure on Environmental Stewardship was £22,931, broadly the same as last year, which is covered in the report below.
Reserves
At the financial year-end combined net current assets (restricted and unrestricted) stood at £234,328 (2019 £273,394). This represents cash and liquid assets held by the Charity and is best thought of as the Charity’s reserves. The Trustees’ policy is to keep a minimum level of unrestricted reserves of £75,000, the actual level of unrestricted reserves at year-end was £197,990, an excess over the minimum of £122,990.
Tangible fixed assets
For the first time the Heritage Hut appears in the Charity’s accounts. This property is held on a 10 year lease from Walberswick Parish Council commencing 11 April 2019. The costs associated with refurbishment of the Hut and conversion into a community hub appear as ‘leasehold property’ under note 4 of the accounts, tangible fixed assets. These costs will be depreciated over the remaining term of the lease. This resulted in a charge to depreciation of £8,250 for the 2020 year. Progress on the Hut is covered in the report below.
4. Covid-19 pandemic
Report from Trustee, Hannah Sutton:
When Covid19 first struck our community in March 2020 no one could foresee how long it was going to affect out beautiful village and its residents also how it was going to affect the Charity.
We decided we needed to be on hand to assist residents in any way we could.
The first action was to set up a Covid19 response team lead by me which was comprised of four trustees who had close links to the community.
We worked closely with Liz Green who set up a huge WhatsApp group of volunteers in the village known as the Walberswick Community Support Group. They all pulled together to assist with shopping, delivery of prescriptions, newspapers and takeaways, dog walking, running errands, driving and in some cases just a chat over the phone. I would like to personally thank Liz and her team who continue to be amazing.
The Charity also donated towards the Christmas hampers organised by the Support Group and volunteers. Many received the hampers who had a particularly difficult time
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
during 2020 due to illness or those living alone and not being able to receive the usual inperson support from family and friends during lockdown.
We also have strong links with the Sole Bay Care Fund who assisted many in the village with care and supported living throughout Covid19. They still continue to support which is invaluable and the Charity is proud to support the Sole Bay Care Fund with a yearly donation. As Covid 19 progressed and lockdown continued many could not work due to restrictions or health, we were pleased to support residents with assistance with rent, care packages and donations at this hard time.
I am pleased to say that our strong links with the community meant the Charity was able to give assistance to residents if they needed it. Thank you to all the residents who contacted me or the team so we could help and give assistance.
Finally, when the lockdown first started, restrictions put the beach and fishing huts out of use for many. As compensation, we offered a rent-free period for the April to June quarter. Many licensees still elected to pay their annual rent in full, for which we are very grateful.
I am always on hand via email at hannahsutton2013@hotmail.com if anyone needs assistance in the future. Hannah
6. Environmental stewardship
The 2019 countryside stewardship agreement with Natural England continues until the end of 2023 and extends to about 70 hectares of the Charity’s land. The annual payments under the agreement average around £21,000. The funding is for, amongst other things, the management of lowland heathland, reedbeds and wet grassland for wintering warders & wildfowl as well as for bracken control. The management of lowland heathland expressly requires the Charity “to provide a mosaic of vegetation which allows all heathland features to flourish, including pioneer heath and bare ground which benefits rarer invertebrates, birds, reptiles and plants.”
Foxgloves flourishing by the old pavilion
As in previous years, the vast majority of the Charity’s environmental work was devoted to management of the heathland of the Common. This work is summarised below.
An area of gorse was cleared from near the old pavilion, at the southern end of compartment 1, as well as at the northern end of the same compartment. Foxgloves are now growing there in abundance.
Extensive clearing of birch and gorse followed to the west of the lane leading to the Bailey Bridge, in compartments 10 and 8. This exposed some WW2 trenches as well as the concrete base of a WW2 gun emplacement.
An area was also cleared a short distance SW of the site of the former railway platform, in the SE corner of compartment 9. This enabled more extensive tractor brush-cutting, topping gorse and birch seedlings to encourage renewed growth of the heather thereby helping to maintain the heathland habitat.
As usual, the brush-cutting took place in February. But this time it was decided to leave some islands within both compartments 1 and 6 (the latter runs parallel to the east edge of the railway cutting). The NW corner of compartment 6 was also left uncut as some woodlarks had been seen there searching for a breeding site.
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
Birch and gorse cleared from Compartments 8 &10
Gorse which had been smothering the heather and encroaching on the footpath between compartments 1 and 2 was cleared back. The southern end of the footpath between compartments 10 and 11 was also cleared, together with gorse along the boundary with the sheep field, adjacent to the path to the side of the firebreak north of the playing field, as well as gorse in the railway siding.
An area bordering Palmers Lane south of Sandy Lane, to the west of compartment 19, was cleared of young birch saplings together with the dell at the north end of the railway track. Some soil was exposed in the dell to encourage burrowing insects on the railway embankment.
In 2020, the Charity extended its environmental stewardship work to include Sandy Lane, Bennett's Copse (approached by the track opposite old Fisher's Garage) and Bennett's Drift (by the new bird hide off Leverett's Lane). To make way for new planting, piles of old brashings were cleared as well as collapsed elms shrouded in ivy. This was done sensitively, by only clearing patches rather than great swathes. In addition, several large, self-sown sycamores were felled in Bennett’s Copse.
The new planting included some 800 hedge whips as well as oak, wild plum, crab apple, rowan, field maple beech and Scots pine, a few of which were transplanted from the Common. Although the new trees will take some years to mature, they are a key part of the long-term management of the landscape for future generations.
Under its agreement with Natural England, the Charity is required to control the invasive bracken “by cutting, spraying… with a bracken-specific herbicide, such as Asulox®, so that by year 5 [i.e. the end of 2023] cover of bracken is no more than 10%.” . After the application of Asulox, livestock must be kept away from the treated area for at least one month to avoid any risk of it browsing on the bracken. Fortunately, there haven’t been any livestock on the Common for a very long time.
Finally, the initiative to preserve the dunes adjoining the beach huts is now in its second year. The marram grass was getting very degraded due to the previous fencing having collapsed, combined with large visitor numbers. Over 2020 the marram grass has grown back strongly, plus ground cover plants have taken hold, all of which is preventing wind-blown erosion of the sand.
Marram grass regeneration on the sand dunes
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
7. Charitable support
In total the Charity awarded charitable grants to individuals and groups of £51,339 during 2020, an increase of 12% on 2019. This resulted in 51% of the Charity’s unrestricted surplus being distributed in grants.
The Trustees make these grants in accordance with policies first adopted in April 2017 and communicated to the Parish Meeting in the same month. You can find those policies here: https://tinyurl.com/fncp7wu5 . During 2020 we developed ‘Here to Help’ , a guide for prospective applicants, which explains how the Charity goes about providing assistance to individuals in need within Walberswick. The following extract summarises our approach:
“We understand that asking for charitable assistance can be awkward or embarrassing, particularly in a small community like ours. Please don’t be embarrassed, we have Trustees with many years’ experience in dealing with potential beneficiaries. All applicants are treated with sensitivity and understanding, plus you can be assured that your application will remain confidential.”
The five largest grants made by the Charity during 2020 were:
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St Andrew’s Church – porch restoration £10,000
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• Sole Bay Care Fund £10,000 • State schools attended by Village children £ 6,250 • Safe Space – professional advice £ 4,448 • Additional Speed Indicating Device (SID) £ 3,276
The Charity continued to support traffic safety in the Village. Following a Village-wide email poll, a second SID was acquired so that the existing SID could stay permanently in place at the entrance to the Village. The Charity also supported the Safe Space team by funding professional advice to come up with recommendations for improvements to traffic management, parking and speed in the Village. In 2020 the team formally became as advisory group to Walberswick Parish Council, now known as the Safe Space Advisory Group.
The remaining grants of £11,564 were in support of national and local charities that provide support to the community, plus funding initiatives like the free minibus service and post office out-reach.
8. Heritage Hut
Congregational chapel in early 1900’s
Last year we reported that the Charity had taken a 10 year lease on the Heritage Hut from Walberswick Parish Council. The Hut stands on the Village Green and was originally built as a Congregational Chapel in the 1880's.
Over many years of gestation, the Heritage Hut project has evolved from the original concept of providing a safe repository for the Scroll and Village archives, to the vision of creating a community hub and exhibition space, with an exclusively Walberswick focus.
Unfortunately the pandemic caused a delay to commencement of the refurbishment, which meant the project has continued
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
into the 2021 financial year. However the Trustees are very pleased with the result and the strong endorsement they have received from the community.
Two donations were received towards the project. Our grateful thanks go to The Scroll Advisory Group and the Walberswick Local History Group for their initial fundraising in 2017 when they raised over £15,804 from grants, donations, coffee mornings and plant sales to start the project off. In addition, Jon Winyard generously raised £2,420 towards the audio-visual installation.
During the 2020 financial year-end the Charity incurred costs of £63,446 on the refurbishment project, including professional fees (before donations). As at the year-end, the estimated net cost to the Charity of the total refurbishment and fit-out project was in the order of £90,000, after taking account of donations. A final report on the refurbishment phase of the project will appear in the 2021 annual report.
9. Incorporation
As previously reported, having a corporate structure is now regarded as best practice for charities such as ours, particularly given we have commercial activities which fund our charitable work.
Under our current structure, the Charity is an unincorporated trust consisting of seven individuals, the Trustees. It is not a separate legal entity like a company. This means that the Trustees have to act in their own names on behalf of the Charity. By adopting a corporate structure, a charity can acquire a separate legal personality thereby enabling it to enter into contracts in its own name, especially relating to land and property ownership, banking and investments.
The Charity has been advised that as all of its original land (i.e. the Common, grazing land and reed beds) is classified as ‘permanent functional endowment’ land, it must be held on trust for the benefit of the community. This means that rather than the Charity itself becoming a company, the best solution is instead to form a corporate trustee to act as the sole trustee of the Charity. The land and property can then be held on trust directly by the corporate trustee.
The existing Trustees would become directors of the new corporate trustee. Although they would perform their duties as directors rather than as trustees, their duties and responsibilities would remain much the same.
In early 2020, the proposed move to a corporate trustee was approved in principle by two of our stakeholders, Walberswick Parish Council and the Sole Bay Team Ministry. Further stakeholder and community consultation will take place in the second half of 2021.
10.Trustees
The first Trustee meeting in January proved to be our last face-to-face meeting of the year. Instead Zoom became the norm and we quickly learned how intense virtual meetings can be. We realised it was much better to have a larger number of shorter duration meetings, hence finishing the year with a record 19 Trustee meetings. This enabled us to respond rapidly to situations as they arose, particularly in the early days of lockdown.
Having served for 8 years, Rita Woodcraft retired as a Trustee at the end of 2020. Rita brought a lifelong knowledge of the Village and its community to the Charity, which was always helpful in putting issues into context. She also acted as liaison between the Charity and the Sole Bay Care Fund, which was invaluable in helping to identify those in potential need.
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CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2020
Rita was a Nominative Trustee, appointed by Walberswick Parish Council. The Council has appointed Karen Lewis in her place. Karen’s professional background is in supply chain management and accompanying organisational change, which she has applied to both commercial and charitable organisations. Those who know Karen will also know that she brings considerable energy and enthusiasm to everything she does, we are delighted to have her on board.
Amanda Erlenbach is a Co-optative Trustee, meaning she is appointed by the Trustees themselves. Her term came to an end on 31 December 2020 and we are very pleased that she has agreed to continue to serve as a Trustee. Mandy takes the lead role in environmental stewardship matters for the Charity, her knowledge and passion have been invaluable in expanding our activity in this area.
The Trustees are all volunteers, supported by our part-time Clerk. They are a diverse group, coming from a wide range of backgrounds and representing different stakeholder groups within the Village. Each Trustee has their own role to play in delivering the work of the Charity and I would like to record my appreciation for their hard work and dedication.
11. Looking forward
Like everyone in our community, the Trustees are looking forward to a return to normality during 2021. Our priorities for 2021 are to have the Heritage Hut fully operational, to make substantial progress on incorporation of the Charity and to resolve a private, property rights issue. At the same time, we will continue to provide charitable support to individuals and groups within the community and expand the scope of our environment stewardship work whenever opportunities arise.
As I say every year, but always worth repeating, the number one priority for Trustees remains to be a ‘force for good’ in the Walberswick community. With that in mind we are always delighted to consider charitable support for community projects and would welcome your suggestions.
James Darkins Chairman
26 August 2021
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WALBERSWICK COMMON LANDS CHARITY
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2020
The trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity is the largest landowner in and around the village of Walberswick in Suffolk. It receives income from rental of its property and from car parking during the tourist season. Its primary responsibility is the environmental stewardship of its lands. In addition, surplus income may be deployed for the relief of need of Walberswick inhabitants and to support charitable objectives in the Parish of Walberswick.
Social investments
Annual and ad-hoc grants are made to groups, organisations and charities that either directly support charitable objectives in Walberswick or have to potential to provide such support when needed. Examples include supporting; schools where Village children are educated, local outreach agencies caring for the sick and elderly, the village hall, the local minibus service, road safety schemes, flood defences, churchyard maintenance and children's sport and recreational activities. Individual grants are also made to support Walberswick inhabitants who are judged to be in need and suffering hardship.
FINANCIAL REVIEW
Reserves policy
It is the Charity's and Trustees policy to maintain reserves at a level it considers necessary to; (a) provide a contingency for emergency repairs, including minor flood damage and (b) meet cash flow fluctuations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is an unincorporated association by its Scheme dated 7 September 2009, amended on 1st November 2018. The Charity was first registered on 4 February 1901.
Recruitment and appointment of new trustees
The body of seven Trustees consists of one Ex-officio Trustee, four Nominative Trustees and two co-Optative Trustees. The latter two categories are elected for a period of four years. Under the present scheme, the Ex-officio Trustee is the Vicar with pastoral responsibility for the Parish of Walberswick. Nominative Trustees are appointed by Walberswick Parish Council.
Risk management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number 206095
Principal address
PO Box 73 Halesworth Suffolk IP19 1AU
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WALBERSWICK COMMON LANDS CHARITY
Trustees
Mr A N Cooke Mr J N B Darkins (Chairman) Ms A Erlenbach Reverend B R Fisher (retired 23 June 2021) Mrs K Goodchild Mrs K Lewis (appointed 1 January 2021) Mrs H J Sutton Mrs R M Woodcraft (retired 31 December 2020)
Clerk
Mr M Wetmore
Independent Examiner
P N van Dijk FMAAT van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth, Suffolk IP19 8AP
Legal advisors
Nicholsons Solicitors, Lowestoft Bates Wells, London
Surveyors
Durrants, Beccles Strutt & Parker, Norwich
BANKERS
Barclays Bank PLC
Approved by order of the board of trustees on 22 April 2021 and signed on its behalf by:
Mr J N B Darkins - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALBERSWICK COMMON LANDS CHARITY
Independent examiner's report to the trustees of Walberswick Common Lands Charity
I report to the charity trustees on my examination of the accounts of Walberswick Common Lands Charity (the Trust) for the year ended 31 December 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
P N van Dijk FMAAT van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP
22 April 2021
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WALBERSWICK COMMON LANDS CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
| STATEMENT OF FINANCIAL ACTIVITIES | STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|---|
| INCOME AND ENDOWMENTS FROM General Income EXPENDITURE ON Costs NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
for the Year Ended 31 December 2020 Unrestricted Restricted Notes fund £ fund £ 2 153,750 22,638 112,959 34,431 40,791 (11,793) 1,515,263 48,131 1,556,054 36,338 |
31.12.20 31.12.19 Total Total funds £ funds £ 176,388 202,961 147,390 155,229 28,998 47,732 1,563,394 1,515,662 1,592,392 1,563,394 |
|
| Notes 2 |
Unrestricted fund £ 153,750 112,959 40,791 1,515,263 1,556,054 |
The notes form part of these financial statements
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WALBERSWICK COMMON LANDS CHARITY
STATEMENT OF FINANCIAL POSITION
31 December 2020
| FIXED ASSETS Notes Tangible assets 4 Investment property 5 CURRENT ASSETS Debtors 6 Investments 7 Cash at bank and in hand 8 CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds 10 Restricted funds TOTAL FUNDS |
Unrestricted fund £ 843,064 515,000 1,358,064 78,341 129,830 40,900 249,071 (51,081) 197,990 1,556,054 1,556,054 |
Restricted fund £ - - - 20,377 13,161 12,558 46,096 (9,758) 36,338 36,338 36,338 |
31.12.20 Total funds £ 843,064 515,000 1,358,064 98,718 142,991 53,458 295,167 (60,839) 234,328 1,592,392 1,592,392 1,556,054 36,338 1,592,392 |
31.12.19 Total funds £ 775,000 515,000 1,290,000 75,692 214,478 35,425 325,595 (52,201) 273,394 1,563,394 1,563,394 1,515,263 48,131 1,563,394 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 22 April 2021 and were signed on its behalf by:
Mr J N B Darkins - Trustee
H J Sutton - Trustee
The notes form part of these financial statements
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WALBERSWICK COMMON LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Freehold property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.
The Charity has an interest in the Heritage Hut situated on Walberswick Village Green which is held on a ten year lease commencing 11th April 2019. Improvements thereto are being amortised over the remaining term of the lease.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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WALBERSWICK COMMON LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020
2. GENERAL INCOME
| Unrestricted funds £ Access licences 1,140 Property rent 30,145 Agricultural agreements 2,051 Investment income 996 Investment restricted income - Covenant from Walberswick Car Parks Ltd. 70,337 Track & Manor fields agreement - Environmental stewardship - Donations 20,222 Increase in value of investments 3,881 Annual licences 13,370 Easements & lease premiums 11,608 153,750 |
Restricted funds £ - - - - 126 - 2,295 20,217 - - - - 22,638 |
31.12.20 Total funds £ 1,140 30,145 2,051 996 126 70,337 2,295 20,217 20,222 3,881 13,370 11,608 176,388 |
31.12.19 Total funds £ 1,414 35,403 2,853 1,423 152 43,209 2,295 28,711 1,175 7,709 15,517 63,100 |
|---|---|---|---|
| 202,961 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
4. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| COST At 1 January 2020 Additions At 31 December 2020 DEPRECIATION Charge for year NET BOOK VALUE At 31 December 2020 At 31 December 2019 |
Freehold property £ 775,000 - 775,000 - 775,000 775,000 |
Leasehold property £ - 76,314 76,314 8,250 68,064 - |
Totals £ 775,000 76,314 |
| 851,314 | |||
| 8,250 | |||
| 843,064 | |||
| 775,000 |
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WALBERSWICK COMMON LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020
5. INVESTMENT PROPERTY
Walberswick Common Lands Charity has title to freehold land and property within the Walberswick area which was valued professionally on 01 May 2018 at £515,000. The trustees do not consider that the value at 31 December 2020 was materially different.
6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
7.
8.
| Trade debtors CURRENT ASSET INVESTMENTS COIF accumulation shares COIF income shares COIF deposit accounts 1 & 2 COIF sea defence deposit account COIF Track & manor fields deposit account CASH AT BANK AND IN HAND Cash in hand Bank account no. 1 Rent deposit account Track & manor fields account Total |
General fund £ 5 40,895 - - 40,900 |
Restricted £ - 110 9,648 2,800 12,558 |
31.12.20 £ 98,718 31.12.20 £ 24,999 25,735 48,199 7,860 36,198 142,991 31.12.20 Total funds £ 5 41,005 9,648 2,800 53,458 |
31.12.19 £ 75,692 31.12.19 £ 22,719 24,133 117,944 7,839 41,843 |
|
|---|---|---|---|---|---|
| 214,478 | |||||
| 31.12.19 Total funds £ 17 25,610 9,702 96 35,425 |
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WALBERSWICK COMMON LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 10. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
At 1.1.20 £ 1,515,263 48,131 1,563,394 Incoming resources £ 153,750 22,638 176,388 At 1.1.19 £ 1,463,259 52,403 1,515,662 |
31.12.20 £ 17,930 42,909 60,839 Net movement in funds £ 40,791 (11,793) 28,998 Resources expended £ (112,959) (34,431) (147,390) Net movement in funds £ 52,004 (4,272) |
31.12.19 £ 9,210 42,991 52,201 At 31.12.20 £ 1,556,054 36,338 1,592,392 Movement in funds £ 40,791 (11,793) 28,998 At 31.12.19 £ 1,515,263 48,131 1,563,394 |
|
|---|---|---|---|---|
| 47,732 |
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WALBERSWICK COMMON LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2020
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Incoming resources £ 171,803 31,158 202,961 |
Resources Movement expended in funds £ £ (119,799) 52,004 (35,430) (4,272) (155,229) 47,732 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
At 1.1.19 £ 1,463,259 52,403 1,515,662 |
Net movement At in funds £ 31.12.20 £ 92,795 1,556,054 (16,065) 36,338 76,730 1,592,392 |
|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted TOTAL FUNDS |
Incoming resources £ 325,553 53,796 379,349 |
Resources expended £ Movement in funds £ (232,758) 92,795 (69,861) (16,065) (302,619) 76,730 |
|---|---|---|
18
WALBERSWICK COMMON LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2020
11. RELATED PARTY DISCLOSURES
Trustees Mrs K Goodchild and Mr J N B Darkins hold on behalf of Walberswick Common Lands one share each in Walberswick Car Parks Limited . Mrs K Goodchild and Mrs R M Woodcraft are also directors of that company. During the year Walberswick Car Parks Limited covenanted £70,337 (2019 £43,209) to Walberswick Common Lands Charity.
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WALBERSWICK COMMON LANDS CHARITY
| DETAILED STATEMENT OF FINANCIAL | DETAILED STATEMENT OF FINANCIAL | ACTIVITIES | ACTIVITIES | |||
|---|---|---|---|---|---|---|
| for the Year Ended 31 December | 2020 | |||||
| 31.12.20 | 31.12.19 | |||||
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | funds | funds | |||
| £ | £ | £ | £ | |||
| INCOME AND ENDOWMENTS | ||||||
| General Income | ||||||
| Access licences | 1,140 | - | 1,140 | 1,414 | ||
| Property rent | 30,145 | - | 30,145 | 35,403 | ||
| Agricultural agreements | 2,051 | - | 2,051 | 2,853 | ||
| Investment income | 996 | - | 996 | 1,423 | ||
| Investment restricted income | - | 126 | 126 | 152 | ||
| Covenant from W.C.P.Ltd | 70,337 | - | 70,337 | 43,209 | ||
| Track & manor fields | - | 2,295 | 2,295 | 2,295 | ||
| Environmental stewardship | - | 20,217 | 20,217 | 28,711 | ||
| Donations | 20,222 | - | 20,222 | 1,175 | ||
| Increase in value of investments | 3,881 | - | 3,881 | 7,709 | ||
| Annual licences | 13,370 | - | 13,370 | 15,517 | ||
| Easements & lease premiums | 11,608 | - | 11,608 | 63,100 | ||
| 153,750 | 22,638 | 176,388 | 202,961 | |||
| Total incoming resources | 153,750 | 22,638 | 176,388 | 202,961 | ||
| EXPENDITURE | ||||||
| Costs | ||||||
| Administration | 13,065 | - | 13,065 | 12,795 | ||
| Property maintenance | 1,848 | - | 1,848 | 977 | ||
| Professional fees | 36,387 | - | 36,387 | 57,639 | ||
| Rates | 211 | - | 211 | 203 | ||
| Insurance | 1,829 | - | 1,829 | 2,260 | ||
| Sundries | 30 | - | 30 | - | ||
| Individual charitable grants | 5,812 | - | 5,812 | 3,074 | ||
| Charitable grants | 45,527 | - | 45,527 | 42,851 | ||
| Track & manor fields | - | 11,500 | 11,500 | 11,500 | ||
| Environmental stewardship | - | 22,931 | 22,931 | 23,681 | ||
| Flood defences | - | - | - | 249 | ||
| 104,709 | 34,431 | 139,140 | 155,229 | |||
| Support costs | ||||||
| Other | ||||||
| Depreciation of Leasehold property | 8,250 | - | 8,250 | - | ||
| Total resources expended | 112,959 | 34,431 | 147,390 | 155,229 | ||
| Net income | 40,791 | (11,793) | 28,998 | 47,732 |
This page does not form part of the statutory financial statements
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