**REGISTERED CHARITY NUMBER: 206095** ## **REPORT OF THE TRUSTEES AND** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** **FOR** ## **WALBERSWICK COMMON LANDS CHARITY** van Dijk Accountants Limited Georgian House 34 Thoroughfare Halesworth Suffolk IP19 8AP **WALBERSWICK COMMON LANDS CHARITY** ## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021** ||**Page**| |---|---| |**Chairman’s Report**|1 to 9| |**Report of the Trustees**|10 to 11| |**Independent Examiner's Report**|12| |**Statement of Financial Activities**|13| |**Statement of Financial Position**|14| |**Notes to the Financial Statements**|15 to 20| |**Detailed Statement of Financial Activities**|21| **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** ## **1. 2021 Financial overview** **----- Start of picture text -----**
1. 2021 Financial overview
EXPENSES ³
ADMINISTRATION
£54,551 ↑ +2%
& MAINTENANCE
ENVIRONMENTAL
STEWARDSHIP
£20,339 ↓ -11%
Walberswick Common,
INCOME
lands & marshes
Land & Buildings
Natural England CSA
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 £5,331 ↓ -8%
Donations
Support to individuals
CHARITABLE
Unrestricted income:
GRANTS
£124,131
↓ -19% Support to: £40,589 ↓ -11%
Charities
Restricted income:
Education
£22,223
↓ -2% Groups
Projects
All grants exclusively for TOTAL CHARITABLE
the benefit of GRANTS
Walberswick community £45,920 ↓ -11%
**----- End of picture text -----**
## **RESERVES** ⁵ Unrestricted reserves: £202,921 ↑ +3% Restricted reserves: £26,722 ↓ -27% Notes: 1. All figures sourced from financial statements to 31 December 2021 2. Percentages show 2021 compared to 2020 3. Expenses exclude any movement in the valuation of investments 4. Agreement with Blois Farms on farming practices adjoining Village 5. Reserves show net current assets, i.e. liquid funds available to the Charity. Page 1 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** ## **2. Introduction** On behalf of my fellow Trustees, I have pleasure in submitting the annual report and accounts for the Walberswick Common Lands Charity (‘the Charity’) for the year ending 31 December 2021. Like most charities, the Trustees conduct their business in private. Much of what we do is confidential and either involves evaluating charitable support or dealing with property and administrative matters related to our land ownership. Consequently, the Trustees take their responsibility to keep the community informed of their activities seriously. A key component of that information flow is our annual report and accounts, which this year has never been more detailed or informative in the 121year history of the Charity. In addition to our annual report, we make a detailed presentation at the Annual Parish Meeting each year. We also try as much as possible, to keep the community informed on Charity news via the Village News and web site (thank you to both excellent organisations for their support). Plus, we hold an annual drop in morning, latterly in our new headquarters at the Heritage Hut, which gives members of the community the opportunity to meet Trustees, ask questions and learn more about the work of the Charity. We hope you enjoy learning about our activities during 2021. ## **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 £124,131 a decrease of £29,619 (-19%) compared to 2020. This decrease was a combination of three factors; (i) no income was received from the sale of easements or lease premiums, compared to £11,608 in 2020, (ii) the covenanted payment received from Walberswick Car Parks Limited (WCPL) decreased by £9,462 compared to 2020 and (iii) in 2020 we received £20,222 in one-off donations towards the Heritage Hut. The results demonstrate there is significant volatility in the annual income of the Charity depending upon the sale of easements or receipt of lease premiums during any one year. In 2019 that income was £60,310 and in 2021 fell to zero. It also shows the importance of the Trustees continuing to protect the Charity’s property rights to ensure that the future benefit of this type of income is not lost to the community. Page 2 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** The total covenanted payment received from WCPL was £60,875. This was the second highest amount ever covenanted, even with the extra expenses associated with undertaking maintenance deferred during the pandemic. The Trustees would like to thank the Directors and Operations Manager of the Company for achieving a great result and for the excellent job they do for the Charity, the community and our visitors. Administration and maintenance expenses increased slightly by 1% to £54,551. Professional fees again fell compared to the previous year but are still high at £33,235 representing 27% of unrestricted income. The Trustees have considered how they engage with their professional advisors and resolved to adopt a different approach, which should reduce costs while maintaining the integrity of the advice they receive. The Charity generated a surplus of £69,580 before charitable grants and depreciation, a reduction of 31% on the previous year. This decrease was principally driven by the reduction in income. The Trustees made total charitable grants of £45,920 thereby distributing 66% of the Charity’s surplus, compared to 51% in 2020. ## Restricted funds Restricted income was £22,223 a reduction of £415 (2%) compared to 2020. This was due to small movements in the Countryside Stewardship Agreement with Natural England and donations received. Total expenditure on Environmental Stewardship was £20,339, a reduction of £2,592 (11%) on last year, which is covered in the report below. ## Reserves & Risk At the financial year-end combined net current assets (restricted and unrestricted) stood at £229,643 (2020 £234,328). 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. This amount was judged to be sufficient to deal with uninsured property damage, a minor flood event or, in the event of a major flood event, obtaining professional advice. The Trustees recognise £75,000 is insufficient to deal with a major flood event. The actual level of unrestricted reserves at year-end was £202,921, an excess over the minimum of £127,921. ## Fixed assets Commencing in 2020, the Heritage Hut now appears in the Charity’s accounts. This property is held on a 10-year lease from Walberswick Parish Council commencing 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 are being depreciated over the remaining term of the lease. This resulted in a charge to depreciation of £10,520 for the 2021 year. The Charity has total fixed assets of £1,366,273 representing its land and property. The Trustees do not revalue these assets annually but have resolved to revalue them every five years, the next occasion being for the 2022 accounts. While it is interesting to note this notional value, the majority of the land and buildings are classified as functional permanent endowment land, meaning there are restrictions on disposal. Accordingly, the Trustees do not regard this capital value as a realistic source of funds for its operations or charitable activity. Page 3 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** ## **4. 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 payment under the agreement was £20,068 for 2021. The funding is for, amongst other things, the management of lowland heathland, reedbeds and wet grassland for wintering waders & 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.”_ In October 2021, we invited Adam Burrows, Senior Reserves Manager at Natural England to give a talk in the Village Hall on environmental stewardship in our region, which was well attended. A summary is available on the Charity section of the Village web site. ## The Common As in previous years, the vast majority of the Charity’s environmental stewardship work was devoted to management of the heathland on the Common. We divide the Common into 19 ‘compartments’ and as can be seen below, work last winter season focussed on compartments 14,12, 9 and 10: The winter work started with the clearing of scrub from the Fen margin. It is home to rarer species of plants and mosses such as the rarest heather on the common – the cross-leaved heath. Some reed was also cut. The majority of arisings from the Fen were made into bundles which were used by Natural England to improve flood defences on the Blyth. This was done to decrease carbon dioxide emissions from burning. Page 4 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** The south facing bank of the railway is an important habitat for reptiles and insects that enjoy the sun warmed earth. Overgrown gorse was removed which had the added benefit of improving access for horses and creating some views. To reduce burning where possible, some of the larger logs were left in habitat piles. Areas of overgrown gorse were cleared on the edge of compartment 9 as they are of little ecological value. Heather and grasses will regenerate over time from the seed bank. The edges of the cleared area provide ideal nest sites for nightjars. Compartment 10 is the largest, most overgrown area. The gorse in this compartment had grown to nearly 5 meters tall and was only of use to muntjac and woodpigeons. Clearing the gorse in previous years has led to an increase in Dartford Warblers and Wood Larks spreading into this area. A large area was cleared, and another WWII trench was uncovered. The footpaths were kept clear and fallen trees attended to. The Charity has regular, independent tree inspections carried out as part of its risk management responsibility. Some trees had to be felled and a branch was removed from the Scots Pine near the railway track on the recommendation of the tree inspector. The work of previous years has been successful in increasing numbers of three heathland bird species. Nightjars and Woodlarks have increased greatly, and the number of Dartford warbler territories has also increased over more compartments. ## Bennett’s Copse & Sandy Lane Some sycamores were felled on the recommendation of the tree inspector, but we have planted several new trees and plan to plant more in the winter of 2022/23. Most of the hedging planted in both areas is beginning to flourish. The ash tree at the entrance to Sandy Lane was pruned to remove the dead branches. In Bennett’s Drift some Scots Pine was planted and one has survived The Trustees would like to thank our regular contractors, Paul Denny and Robert Mortley for the knowledge and experience that they bring to their work on the Charity’s land. Page 5 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** ## Bird Hide When regulations permitted, the bird hide was reopened in July 2021 and it has been monitored regularly to ensure it remains in good condition and the minor repairs attended to. The highlight of the year is a Glossy Ibis which has been present, moving between the grazing marshes and the fields by the Bailey Bridge. ## **5. Charitable support** The Charity makes individual grants to support Walberswick inhabitants who are judged to be in need and suffering hardship. In addition, 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. In total the Charity distributed charitable grants to individuals and groups of £45,920 during 2021, a decrease of £5,429 (11%) compared to 2020. There is always some fluctuation in the amount of grants made in each year, depending upon projects arising at the time. For example, in 2020 the Charity contributed £10,000 to the St Andrew’s Church porch restoration, which was a one-off item. While grants were lower financially, they still represented 66% of the Charity’s unrestricted surplus, compared to 51% in the 2020 year. Demonstrating that, despite generating a lower surplus, the Trustees continued to provide substantial charitable support to the community. The four largest grants made by the Charity during 2021 were: - Sole Bay Care Fund £15,000 - • State schools attended by Village children £ 6,750 • Village Hall £ 3,000 (subsidised hire charges for local users) • Free mini-bus - shopping service £ 2,800 The Trustees added two new charities to their beneficiaries during 2021, the Lowestoft Food Bank and Dementia UK, both of which provide support to our community. Each received a grant of £1,000. One area that the Charity continues to focus on are the children in our community. Rural villages, with a high proportion of second homes, don’t necessarily provide a nurturing and supportive environment for resident children. Wherever we can, we will initiate or support events that bring Village children together, ideally joining with non-resident Village children. Three examples from 2021 were the sponsored crab trail, Easter eggs and the summer sports camp. Page 6 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** The sponsored crab trail was part of Red Nose Day in March 2021. The Charity purchased wooden crabs, which were then decorated by Village children. These were hidden around the Village with a map and clues to find them. This was an event that we could support safely, in a Covid-friendly way. Sadly, Covid prevented the Easter egg hunt from proceeding for the second year in a row. Instead, the Charity purchased eggs which were distributed safely, direct to the doors of Village children. The Summer Sports Camp ran every Thursday for five weeks over the 2021 summer holidays. This is run by a professional organisation, with the necessary qualifications. The Charity organises the event and underwrites the cost, with attendees paying a daily fee. It is attended by Village children from both permanent residents and second homes, plus children visiting family and friends in the Village. The children had the choice of team sports, archery, and football, plus the option of dance and drama every other week. _“I love the summer clubs; I have made so many new friends”_ observed one of the children who attended last year. ## **6. Heritage Hut** Over many years of gestation, the Heritage Hut project 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. After much pandemic induced delay, we were delighted to see the Heritage Hut refurbishment substantially completed in 2021 and open for business. Initially it has been the four principal users which are making the greatest used of the Hut: the Parish Council, Charity, History Group and Scroll Advisory Group. This has been aided by the audio-visual installation which facilitates presentations and allows for mixed attendance meetings (some participants in the room and some via videoconferencing). This has enabled the Charity to attract new Trustees who otherwise would not be able to attend every meeting in person. Page 7 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** At the end of the third quarter of 2021 the Trustees reviewed the financial cost of the project. Total refurbishment costs, including professional fees came to £98,406. The net cost to the Charity, after taking account of donations was £80,600. The Heritage Hut is overseen by a Management Committee, representing the four principal users, with the Charity in the chair. The Trustees would like to thank their three fellow committee members: John English for the Scroll Advisory Committee, Pat Lancaster for the History Group and Jon Winyard for the Parish Council. All three have been tireless in their efforts to make the Heritage Hut a success. ## **7. 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. For our charity, the best solution is to achieve this by forming a corporate trustee to act as the sole trustee of the Charity. During the second half of 2021 we undertook community consultation on this proposed change via a presentation at the Annual Parish Meeting and holding an open morning in the Heritage Hut. As part of this initiative the Trustees decided to adopt a maximum term of office for Trustees. Initially this was to be two terms of four years followed by an indefinite number of one-year terms. The idea was to encourage Trustee turnover and avoid incumbents becoming entrenched in their positions. On reflection the Trustees have become concerned that this could lead to unintended consequences. In the worst case six of the seven Trustees could be up for re-election each year, with a consequent risk to loss of corporate knowledge and the inevitable disruption to normal business during the election process. Instead, the Trustees propose to make the additional terms two-years and to stagger the renewals so that no more than three Trustees would change in any normal year. ## **8. Trustees** 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. 2021 saw the beginning of a period of significant Trustee renewal. At the time of writing this report we anticipate that, by the end of 2022, all but one Trustee will have served for less than eighteen months. While this risks the loss of corporate knowledge, there are considerable benefits in bringing new skills, fresh perspectives and ways of doing things to the Trustee mix. Page 8 **CHAIRMAN’S REPORT – YEAR ENDING 31 DECEMBER 2021** I would like to thank former Trustees Adam Cooke, Rev Brian Fisher, Kate Goodchild and Karen Lewis all of whom served during the 2021 year. Kate and Brian each served as Trustees for over 20 years, a remarkable record of community service. ## **9. Looking forward** Progress on a number of initiatives during 2021 was slower than the Trustees would have liked, caused in large part by the pandemic. Looking forward to 2022 our priorities are to properly launch the Heritage Hut as a Community Hub, obtain approval for incorporation of the Charity, to resolve a private, property rights issue, complete the succession of six of our seven Trustees and begin the review of our Countryside Stewardship Agreement with Natural England, which expires at the end of 2023. 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 providing support to any charities, groups or projects that can deliver charitable benefit to our community and would welcome your suggestions. James Darkins **Chairman** 30 June 2022 Page 9 **WALBERSWICK COMMON LANDS CHARITY** ## **REPORT OF THE TRUSTEES for the Year Ended 31 December 2021** The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 operations. Its primary responsibility is the long-term, 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** Individual grants are also made to support Walberswick inhabitants who are judged to be in need and suffering hardship. Annual and ad-hoc grants are made to groups, organisations, and charities that either directly support charitable objectives in Walberswick or have the 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, community events and children's sport and recreational activities. ## **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 governed by its Scheme dated 7 September 2009, amended on 1st November 2018 and constitutes an unincorporated Charity. The Charity was first registered on 4 February 1901. ## **Recruitment and appointment of new trustees** The body of seven Trustees is made 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. The Ex-officio Trustee is normally the Vicar with pastoral responsibility for the Parish of Walberswick. Nominative Trustees are elected by Walberswick Parish Council. At 31st December 2021 there were two vacancies. ## **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 Page 10 **WALBERSWICK COMMON LANDS CHARITY** ## **REPORT OF THE TRUSTEES** ## **for the Year Ended 31 December 2021** ## **Trustees** ## **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 Stutt & Parker, Norwich ## **BANKERS** Barclays Bank PLC Approved by order of the board of trustees on 26 May 2022 and signed on its behalf by: Mr J N B Darkins - Trustee Page 11 ## **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 2021. ## **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: 1. 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 3. 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 26 May 2022 Page 12 ## **WALBERSWICK COMMON LANDS CHARITY** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## **for the Year Ended 31 December 2021** |Notes
**INCOME AND ENDOWMENTS FROM**
General Income
2
**EXPENDITURE ON**
Costs
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
124,131
110,991
13,140
1,556,054
1,569,194|Restricted
fund
£
22,223
31,839
(9,616)
36,338
26,722|31.12.21
Total
funds
£
146,354
142,830
3,524
1,592,392
1,595,916|31.12.20
Total
funds
£
176,388
147,390
28,998
1,563,394
1,592,392| |---|---|---|---|---| The notes form part of these financial statements Page 13 ## **WALBERSWICK COMMON LANDS CHARITY** ## **STATEMENT OF FINANCIAL POSITION** ## **31 December 2021** |Notes
**FIXED ASSETS**
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**
10
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
851,273
515,000
1,366,273
72,246
167,754
13,418
253,418
(50,497)
202,921
1,569,194
1,569,194|Restricted
fund
£
-
-
-
20,068
6,245
12,389
38,702
(11,980)
26,722
26,722
26,722|31.12.21
Total
funds
£
851,273
515,000
1,366,273
92,314
173,999
25,807
292,120
(62,477)
229,643
1,595,916
1,595,916
1,569,194
26,722
1,595,916|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| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on 26 May 2022 and were signed on its behalf by: Mr J N Darkins - Trustee H J Sutton - Trustee The notes form part of these financial statements Page 14 **WALBERSWICK COMMON LANDS CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2021** ## **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. continued... Page 15 ## **WALBERSWICK COMMON LANDS CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021** ## **2. GENERAL INCOME** |Unrestricted
funds
£
Access licences
1,200
Property rent
34,934
Agricultural agreements
1,974
Investment income
388
Investment restricted income
-
Covenant from W.C.P.Ltd
60,875
Track & manor fields
-
Environmental stewardship
-
Donations
136
Increase in value of investments
8,371
Annual licences
16,253
Easements & lease premiums
-
124,131|Restricted
funds
£
-
-
-
-
6
-
1,845
20,068
304
-
-
-
22,223|31.12.21
Total
funds
£
1,200
34,934
1,974
388
6
60,875
1,845
20,068
440
8,371
16,253
-
146,354|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| |---|---|---|---| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020. ## **4. TANGIBLE FIXED ASSETS** |**COST**
At 1 January 2021
Additions
At 31 December 2021
**DEPRECIATION**
At 1 January 2021
Charge for year
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Freehold
property
£
775,000
-
775,000
-
-
-
775,000
775,000|Leasehold
property
£
76,314
18,729
95,043
8,250
10,520
18,770
76,273
68,064|Totals
£
851,314
18,729
870,043
8,250
10,520
18,770
851,273
843,064| |---|---|---|---| continued... Page 16 **WALBERSWICK COMMON LANDS CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021** ## **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 2021 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
13,413
-
-
13,418|Restricted
£
-
188
9,570
2,631
12,389||31.12.21
£
92,314
31.12.21
£
29,345
29,385
78,206
7,860
29,203
173,999
31.12.21
Total
funds
£
5
13,601
9,570
2,631
25,807||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| |---|---|---|---|---|---|---| |||||||| |||||||| continued... Page 17 **WALBERSWICK COMMON LANDS CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued** ## **for the Year Ended 31 December 2021** |**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 1.1.21
£
1,556,054
36,338
1,592,392
Incoming
resources
£
124,131
22,223
146,354
At 1.1.20
£
1,515,263
48,131
1,563,394||31.12.21
£
7,817
54,660
62,477
Net
movement
in funds
£
13,140
(9,616)
3,524
Resources
expended
£
(110,991)
(31,839)
(142,830)
Net
movement
in funds
£
40,791
(11,793)
28,998|31.12.20
£
17,930
42,909
60,839
At
31.12.21
£
1,569,194
26,722
1,595,916
Movement
in funds
£
13,140
(9,616)
3,524
At
31.12.20
£
1,556,054
36,338
1,592,392| |---|---|---|---|---| |||||| |||||| |||||| continued... Page 18 **WALBERSWICK COMMON LANDS CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021** ## **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
£
153,750
22,638
176,388|Resources
Movement
expended
in funds
£
£
(112,959)
40,791
(34,431)
(11,793)
(147,390)
28,998| |---|---|---| 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 1.1.20
£
1,515,263
48,131
1,563,394|Net
movement
in funds
£
53,931
(21,409)
32,522|At
31.12.21
£
1,569,194
26,722
1,595,916| |---|---|---|---| 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
£
277,881
44,861
322,742|Resources
Movement
expended
in funds
£
£
(223,950)
53,931
(66,270)
(21,409)
(290,220)
32,522| |---|---|---| continued... Page 19 **WALBERSWICK COMMON LANDS CHARITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2021** ## **11. RELATED PARTY DISCLOSURES** Trustees Mrs K Goodchild (retired 31st December 2021) and Mr J N Darkins held on behalf of Walberswick Common Lands one share each in Walberswick Car Parks Limited at 31st December 2021 .Mrs K Goodchild's share was tranferred to Trustee Mrs Hannah Sutton on 24th February 2022. Mrs K Goodchild is also a director of Walberswick Car Parks Limited. During the year Walberswick Car Parks Limited covenanted £60,875 (2020 £70,337) to Walberswick Common Lands Charity. Page 20 ## **WALBERSWICK COMMON LANDS CHARITY** |**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**||| |---|---|---|---|---| ||**for the Year Ended 31 December 2021**|||| ||||31.12.21|31.12.20| ||Unrestricted|Restricted|Total|Total| ||funds|funds|funds|funds| ||£|£|£|£| |**INCOME AND ENDOWMENTS**||||| |**General Income**||||| |Access licences|1,200|-|1,200|1,140| |Property rent|34,934|-|34,934|30,145| |Agricultural agreements|1,974|-|1,974|2,051| |Investment income|388|-|388|996| |Investment restricted income|-|6|6|126| |Covenant from W.C.P.Ltd|60,875|-|60,875|70,337| |Track & manor fields|-|1,845|1,845|2,295| |Environmental stewardship|-|20,068|20,068|20,217| |Donations|136|304|440|20,222| |Increase in value of investments|8,371|-|8,371|3,881| |Annual licences|16,253|-|16,253|13,370| |Easements & lease premiums|-|-|-|11,608| ||124,131|22,223|146,354|176,388| |**Total incoming resources**|124,131|22,223|146,354|176,388| |**EXPENDITURE**||||| |**Costs**||||| |Administration|16,250|-|16,250|13,065| |Property maintenance|2,037|-|2,037|1,848| |Professional fees|33,235|-|33,235|36,387| |Rates|213|-|213|211| |Insurance|2,816|-|2,816|1,829| |Sundries|-|-|-|30| |Individual charitable grants|5,331|-|5,331|5,812| |Charitable grants|40,589|-|40,589|45,527| |Track & manor fields|-|11,500|11,500|11,500| |Environmental stewardship|-|20,339|20,339|22,931| ||100,471|31,839|132,310|139,140| |**Support costs**||||| |**Other**||||| |Depreciation of Leasehold property|10,520|-|10,520|8,250| |Total resources expended|110,991|31,839|142,830|147,390| |**Net income**|13,140|(9,616)|3,524|28,998| Page 21