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2020-12-31-accounts

SUDBURY COMMON LANDS CHARITY

ACCOUNTS 31 DECEMBER 2020

MOORE GREEN CHARTERED ACCOUNTANTS SUDBURY SUFFOLK

SUDBURY COMMON LANDS CHARITY

INDEX TO ACCOUNTS 31 DECEMBER 2020

Page
Charity Information 1
Trustees’ Report 2 - 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 - 19
Independent Examiner’s Report 20

1

SUDBURY COMMON LANDS CHARITY

CHARITY INFORMATION

CLERK TO THE TRUSTEES A Walters Esq AND PRINCIPAL ADDRESS The Christopher Centre OF THE CHARITY 10 Gainsborough Street Sudbury Suffolk CO10 2EU

RANGER N Shimwell Esq ASSISTANT RANGER S Morgan Esq BANKERS Barclays Bank Plc 35 Market Hill Sudbury Suffolk CO10 2EP SOLICITORS Steed & Steed LLP 6 Gainsborough Street Sudbury Suffolk CO10 2ET

INDEPENDENT EXAMINERS Moore Green 22 Friars Street Sudbury Suffolk CO10 2AA INVESTMENT MANAGERS

Quilter Cheviot One Kingsway London WC2B 6AN

REGISTERED CHARITY NUMBER

212222

2

SUDBURY COMMON LANDS CHARITY

TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2020

TRUSTEES

The Trustees of the Charity are the same as those of the Sudbury Municipal Charities (SMC) with the addition of four nominative trustees appointed by the Freemen.

At 31 December 2020 the Trustees (together with their current term of office) were as follows:

Representative Trustees

Mrs S Hobson (February 2018-2022) K Robins (November 2018-2022) R Bentley (February 2019-2023) P Whiteley (Vice Chairman) (November 2019-2023) Mrs E Wiles (November 2019-2023) Ms M Berkouwer (November 2020-2024)

Co-Optative Trustees

G Challacombe ( November 2019-2024) P Fulcher (Acting Chairman) (July 2018-2023) The Reverend R Titford, ( February 2020-2025) M Geddes (February 2017-2022) R Kemsley ( November 2016-2021) Ms S-J Money (October 2019-2024)

N ominative (Freemen) Trustees

A Grimwood (July 2024) N Eley (July 2024) C Wheeler (July 2024) M Wheeler (July 2024)

On appointment new trustees sign a declaration committing them to giving of their time and expertise.

The trustees meet as a full committee four times a year, interspersed with meetings of the Finance committee and the Estates committee as required. Other sub committees may be formed from time to time.

The Trustees undertake an annual inspection program covering all the lands under SCLC management.

3

SUDBURY COMMON LANDS CHARITY

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 DECEMBER 2020

THE SCHEME

The riverside lands around Sudbury have been grazed continuously since they were first recorded by name in the late twelfth century. At that time Amicia de Clare granted rights to St John’s Hospital, adjacent to Ballingdon bridge, to graze four cows and twenty sheep on Portmanscroft and Kingsmere. It is very likely that they were grazed before then.

Sudbury Common Lands Charity is the body currently charged with managing and conserving these lands for future generations.

The Sudbury Common Lands Charity was originally formed in 1897 and is now governed by the Charity Commissioners Scheme, dated 14 May 1987.

The primary objective of the Scheme is to manage the lands, property and fishing rights belonging to the charity; to be used for any charitable purposes for the general benefit of the inhabitants of the town of Sudbury.

In particular the Trustees are required to manage any grazing land so as to protect and preserve it in its natural state as grazing land for the general benefit of the inhabitants of the town of Sudbury.

Subject to the approval of the Commissioners the Trustees may acquire land and buildings for appropriation and defray the cost of such acquisition out of the capital or income of the charity.

After payment of proper costs, charges and expenses associated with the management of the charity the Trustees shall apply the remainder of the income of the charity to Freemen in need, the Sudbury Freemen’s Trust, the Sudbury Municipal Charities and for any charitable purposes for the general benefit of the inhabitants of the town of Sudbury.

SUDBURY COMMON LANDS CHARITY DEVELOPMENT

SCLC was formed under its present Scheme in 1987. This was triggered by the sale of Harp Close Meadow for £850,000. In the early days the charity enjoyed a large surplus of income over expenditure due to the high interest rates at the time.

The charity expanded rapidly. SCLC acquired land, property and farm equipment and recruited 2 rangers to look after its estate. As investment returns have fallen additional income has been generated through working closely with local councils using our rangers to manage the lands outlined below and ensuring income and expenditure match.

Acquired: Managed:
1994 The Christopher Centre 1990 The Croft
1998 Wardman meadows 1990 Mill Acre
2001 Grove Cottage 1994 Walters meadow
2013 Guilford meadow 1995 to 2012 Guilford meadow
1996 Friars meadow
1996 Kone Vale
1996 Cornard riverside
1996 Valley Trail – Kingfisher to Ballingdon
2009 Cornard Country Park
2012 Valley Trail – Ballingdon to Rodbridge
2018 Shawlands
2020 Stevensons Centre field and associated areas
2020 Great Cornard Village Green
2020 Stacy Ardley Fields

4

SUDBURY COMMON LANDS CHARITY

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 DECEMBER 2020

RISK MANAGEMENT

The trustees have considered and reviewed the major risks to which the charity is exposed. We have established systems and procedures to manage those risks.

The trustees consider the major operational risk to be the safety and wellbeing of the rangers, charity volunteers and members of the public using the estate. Appropriate training is given to staff and volunteers. SCLC has an ongoing Health and Safety Program overseen by NFU with regular updates.

Notices are placed throughout the estate warning members of the public of the risks when using the open access areas with animals.

The major financial risk is the volatility of investment income. This is reviewed annually with the investment advisors.

Government grants and local government projects are likely to be affected by current austerity pressures in the country.

PUBLIC BENEFIT

The major benefit is to the people of Sudbury who have enjoyed access to the Common Lands continuously for at least 900 years. The purpose of SCLC is to manage these lands today and create a secure foundation for the future.

A regular program of walks and lectures is organized by the ranger for a wide range of interested parties, including schools and societies.

The majority of the land owned by SCLC is a local nature reserve and has been designated as a County Wildlife Site in recognition of extensive ongoing ecological and environmental work.

Grants made to Sudbury Municipal Charities and to Sudbury Freemen’s Trust enable assistance to be given to aged and needy individuals in Sudbury.

SCLC owns the Christopher Centre which operates as a separate charity (Registered Charity No.112942). It provides offices and meeting rooms for local charities and organisations in the town.

FINANCIAL REVIEW

The financial statements comply with the Charities Trust Deed, the Charities Act 2011 and the Charities SORP (FRS 102). Accounting policies are detailed in note 1 in the accounts.

The Trustees recognise their responsibilities in preparing these accounts, to

The Trustees financial policy is to break even on the annual income and expenditure account and to fund development from gifts and bequests from the community.

5

SUDBURY COMMON LANDS CHARITY

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 DECEMBER 2020

The Trustees’ policy on reserves is to ensure that they are sufficient to meet the short-term running costs and to secure the long-term existence of the Charity.

A second requirement is to continue the successful development of SCLC by acquiring land, buildings and equipment suitable for our purpose as and when the opportunity occurs. A fund is being established from gifts and bequests for this purpose.

SUMMARY OF ACHIEVEMENTS AND PERFORMANCE 2020

2020 was a year of change for the Charity. The Ranger/Clerk retired as a Ranger and continued as a Clerk/Mentor. The Assistant Ranger was appointed as Ranger following interview and a new Assistant Ranger was appointed following interviews. The staffing budget therefore increased as the New Assistant Ranger had a two month induction period before the existing Assistant Ranger was promoted to Ranger and the Clerk/Mentor was paid for the Mentoring role as well as the position of Clerk. The Charity also set up an office for the Clerk at the Christopher Centre with all the relevant equipment to replace the one in our Clerks home.

The new Chairman had to temporarily stand down due to illness in the Spring and the Vice Chairman stood in as Acting Chairman for the remainder of the year.

Covid-19 also had an effect on the Charity. The staff continued to work throughout the year but had to change working practices to comply with the Government Directives. The volunteers only worked for 5 months this year, again to comply with Covid-19 Directives. This led to a program of work having to be adapted and prioritised. The Contract work continued with one small Contract ceasing but being replaced with another one.

Financially the Charity gave rent holidays for the Christopher Centre and Grove Cottage’s Tenant. Investment income was down, and interest reduced as a result of the impact of Covid-19 on the markets. Even so, the Charity’s Finances remained strong with a deficit of about £8,000 offset by some generous donations.

On the Estate, 2020 was a year when Covid-19 brought an unprecedented increase in footfall on the whole riverside and Valley Trail but despite this wildlife continued to do well. Unfortunately, this led to greater littering and more clearing up for our Rangers. As a result of restrictions there were no SCLC guided events or school education groups and the Turning On Ceremony was cancelled.

2020 saw the reintroduction of two graziers on the riverside following many years with just one. The arrangement worked extremely well.

Water voles were still present in low numbers and the new ‘Remoti’ mink raft attracted an individual twice, setting off the messaging alert to the SCLC phones. Periodically there was an enormous amount of Otter activity, particularly at the Croft and the Mill Race where one was caught in an illegal fish trap. A badger took up residence above ground in the trailer shelter making a large ‘nest’. A young leveret on Reach Meadow pointed to the suitability of the habitat for breeding hares.

Cetti’s warblers continued to call from thickets around the riverside. The barn owls reared two young on Wardman Meadows bringing the total to fifteen chicks raised since the boxes were installed. One chick was raised in a box in the Cornard Country Park, this being the first for that location. A great white egret was photographed over North Meadow Common, this being the first recorded for our land. There were increasing red kite and raven sightings.

As a result of lengthy dry spells over the past three years, the early marsh orchid population plummeted to

6

SUDBURY COMMON LANDS CHARITY

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 DECEMBER 2020

just 34 flowering plants. However, the Deptford pink had its best flowering year since SCLC management began.

The wet winter and increased footfall led to the deterioration of footpath surfaces. However, despite the wet conditions good progress was made with the winter work program.

The professionalism of the staff has ensured the Charity has continued to improve the land in it’s management under difficult circumstances and I wish to thank them for this. The Common Lands have been utilised extensively to help people cope with Covid-19 and this shows how important the work od the Charity is for the wellbeing of the people of Sudbury and the surrounding areas.

Peter Fulcher On behalf of the Trustees

7 May 2021

………………….

7

SUDBURY COMMON LANDS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
INCOMING RESOURCES
Investment Income
2
Estate Income
3
Christopher Centre
4
Grove Cottage Rent
Grants and Donations
5
Sundry Income
6
RESOURCES EXPENDED
Christopher Centre
7
Grove Cottage
8
Estate Management
9
Charity Management
10
Grants
11
Obligatory Disbursements
12
Net Incoming/(Outgoing) Resources
Transfer between funds
Gains and (Losses) on Investment Assets
Net Movement in Funds
Total Funds Brought Forward
 Unrestricted D
funds
£
28,598
70,020
12,393
7,700
1,176
5,766
125,653
5,657
993
75,401
40,286
4,000
7,172
133,509
(7,856)
-
-
(7,856)
142,977
135,121
 esignated
funds
£
-
-
-
-
18,000
-
18,000
-
-
-
-
-
-
-
18,000
-
-
18,000
93,084
111,084		 Restricted
funds
£
-
-
-
-

-
-
-
-
-
-
-
-
-
-
-
-
50,484
50,484
1,765,519
1,816,003		 2020

Total
funds
£
28,598
70,020
12,393
7,700
19,176
5,766
143,653
5,657
993
75,401
40,286
4,000
7,172
133,509
10,144
-
50,484
60,628
2,001,580
2,062,208		 2019
Total
funds
£
38,026
57,341
16,331
9,600
31,491
4,815
157,604
5,154
970
68,463
27,565
3,296
1,350
106,798
50,806
-
161,143
211,949
1,789,631
2,001,580

8

SUDBURY COMMON LANDS CHARITY

BALANCE SHEET 31 DECEMBER 2020

Notes
FIXED ASSETS
Tangible Assets
13
Investments
14
CURRENT ASSETS
Stock of Books
Cash at Bank and in Hand:
Current Account
Premium Account
Quilter Cheviot
CURRENT LIABILITIES
Creditors:
15

TOTAL ASSETS LESS CURRENT LIABILITIES
Represented by:
FUNDS
16
Unrestricted Income Fund
Designated Capital Fund
Total Unrestricted Funds
Restricted Funds
NET FUNDS
17		 2020
£
£
501,268
1,455,730
1,956,998
2,180
8,289
49,566
57,134
(11,959)
105,210
2,062,208

135,121
111,084
246,205
1,816,003
2,062,208
2019
£
-
10,777
30,536
29,006
(6,705)		 2019 £
498,845
1,439,121
1,937,966
63,614
2,001,580

142,977
93,084
236,061
1,765,519
2,001,580

Approved by the Trustees on 7 May 2021 and signed on their behalf by:

P Fulcher – Trustee

M Berkouwer - Trustee

9

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2020

1 ACCOUNTING POLICIES

Basis of accounting

These financial statements have been prepared under the historical cost convention as modified by the inclusion of investments at market value and in accordance with the provisions of the Statement of Recommended Practice (FRS 102) – Accounting and Reporting by Charities, the Charities Act and relevant accounting standards.

Freehold property

Freehold property comprising The Christopher Centre, The Wardman Meadows and Grove Cottage is shown at cost. No provision is made for depreciation of this freehold property as explained in Note 13(a) on page 15 of these financial statements.

Valuation of investments

The Charity’s quoted investments are stated in the balance sheet at market value as recommended by the SORP. The effect of including unrealised gains or losses is shown in Note 16.

Disposal of investments and land

Any surplus or deficits arising on the disposal of the Charity’s quoted investments, Common Lands or freehold property are treated as increases/decreases in the restricted Funds of the Charity and are not included in the determination of the Charity’s net incoming (or outgoing) resources for any accounting period, as explained in Note 17 to these financial statements.

Depreciation

Depreciation is provided on plant and machinery and motor vehicles by annual instalments over their estimated useful lives, at a rate of 25% on a reducing balance basis.

Lands owned and administered by the Charity

The basis of accounting for the lands owned and administered by the Charity is explained in Note 13(b) to these financial statements.

Restricted and unrestricted funds

The nature of these funds, within the meaning of the SORP so far as the Charity is concerned, is explained in Note 17 to these financial statements.

10

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2020

1 ACCOUNTING POLICIES (CONTINUED)

Investment Income

Investment income is included when receivable. Tax credits relating to such income are accrued for by reference to the period when the income to which the credit relates was recognised.

Grant Income

The Charity receives grant income from time to time in relation to works undertaken on its land. The grant income is released to the profit and loss account as the expenditure to which it relates is incurred.

Allocation of Payments

The Trustees decide the most appropriate heading, within the “Resources Expended” section on page 7, under which each individual expenditure type should be included.

Realised and Unrealised Gains (Losses) on Investments

Hire Purchase Agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight-line basis where appropriate.

11

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2020 (CONTINUED)

2.
INVESTMENT INCOME


Fixed Interest
Equities
Bank Deposit Accounts
3. ESTATE INCOME

RANGER SERVICES (CONTRACTS)
Sudbury Town Council
Babergh District Council Ranger and Amenity Service
Cornard Parish Council
RANGER SERVICES (INCIDENTAL)
Babergh – Site Security
Bloc Management – Grassland Management
T Ogle – Grassland Management
Babergh – Bin Bags
GRASSLAND
Grazing income
ELS/HLS
OTHER ESTATE INCOME
Wayleaves
Suffolk County Council Walks Festival
Mills – Electric Fence Provision

2020
£
6,924
21,606
68
28,598

8,611
24,313
8,145
-
300
-
279
-
28,348
24
-
-
70,020

2019
£
7,463
30,504
59
38,026

6,929
23,720
7,967
1,160
300
100
-
2,000
15,024
69
56
16
57,341

12

SUDBURY COMMON LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2020


4.
5.

CHRISTOPHER CENTRE
Rent
Insurance
GRANTS & DONATIONS
Unrestricted Income Funds
Just Giving and Other Donations
Designated Income Funds
The Essex Trust
Mrs Green Legacy		 2020
£

11,628
765
12,393

1,176
18,000
-

18,000


2019
£
14,878
1,453
16,331
5,745
7,000
18,746
25,746

13

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2020 (CONTINUED)

6. SUNDRY INCOME 2020 2019
£ £
Sudbury Freemen’s Society 675 675
Sudbury Municipal Charities 1,144 500
NIC Rebate 3,356 3,000
Book Sales 591 633
Other Income 7
5,766 4,815
The Sudbury Freemen’s Society pay SCLC a turning on fee which is 50% of the grazing rights (note 12).
7. CHRISTOPHER CENTRE EXPENDITURE
Rent 4,097 3,791
Insurance 1,560 1,363
5,657 5,154
8. GROVE COTTAGE EXPENDITURE
Insurance 665 533
Repairs and Miscellaneous 328 437
993 970
9. ESTATE MANAGEMENT
Land Management Expenses 9,782 8,719
Insurance and Tax 1,875 1,790
Ranger Salaries 56,600 52,980
Land Rover Running Expenses 3,842 2,480
Equipment - -
Depreciation of Tangible Fixed Assets 3,302 2,494
Disposal of Asset - -
75,401 68,463

The Estate Management Committee advises the Trustees on the management of all lands owned by the Charity and lands managed on a contractual basis for other organisations. Ongoing works include rotational ditch and pond clearance, coppicing, pollarding and other tree management, replacement and repair of stock fencing and general maintenance of land for amenity and/or wildlife habitat.

14

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2020 (CONTINUED)

10. MANAGEMENT AND ADMINISTRATION OF THE CHARITY

Investment Management Fees
Administration

Clerk

Independent Examiner and Accountancy
Insurance


11. GRANTS PAID
Sudbury Municipal Charities

12. OBLIGATORY DISBURSEMENTS
Sudbury Freemen’s Society
Sudbury Freemen’s Trust		 2020
£
8,083
10,084
17,759
3,030
1,330
40,286
4,000

4,000
1,350
5,822
7,172

2019
£
6,999
2,621
13,308
3,030
1,607
27,565
3,296
_
3,296
1,350
-
1,350



The freemen receive grazing income on the historic lands in lieu of taking up their rights.

The results of 2018 did not mandate any payment to Sudbury Freemen’s Trust under the 1987 scheme.

15

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2020

  1. TANGIBLE FIXED ASSETS
13. TANGIBLE FIXED ASSETS



Cost (see note 1)
At 1 January 2020
Additions
At 31 December 2020
Depreciation
At 1 January 2020
Charge for Year
At 31 December 2020
Net Book Values
At 31 December 2020
At 1 January 2020		 Freehold
Land and
Property
£
491,365
491,365
-
-
-
491,365
491,365		 Plant,
Equipment
and vehicle
£
44,828
5,725
50,553
37,348
3,302
40,650
9,903
7,480
Total
£
536,193
5,725
-
541,917
37,348
3,302
-
40,650
501,268
498,845

The Christopher Centre was originally let to Sudbury and District Volunteer Centre (now renamed The Christopher Centre registered charity number 1120942) under a lease dated 5 July 1993, at a rent of £10,000 per annum. The term of the lease has been extended to 4 July 2024 and rent is currently payable at £14,000 per annum. The building is not depreciated as the Trustees believe that due to the refurbishment work undertaken its value is substantially greater than cost and its residual value is not likely to be less than cost.

Within Freehold Land and Property is £41,860 Capital improvements relating to the renovation and refurbishment of the Grove Cottage property which as it reflects the increase in value of the property is not depreciated.

14 acres of grazing land known as Guilford Meadow was acquired in January 2016 through a Section 106 provision of the Town and Country Planning Act 1990 whereby the land was transferred by developers of related property to the charity at nil cost.

16

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2020

Approx area (acres) Description of land

x area (acres) Description of land
23.27 Great and Little Fullingpit Meadow
45.47 North Meadow (including Brundon Lane Spinney)
10.79 Kings Marsh Part 1
8.05 Kings Marsh Part 2
22.88 Freemen's Great and Little Commons
2.81 Coote's Meadow Part 1
1.87 Coote's Meadow Part 2

There is no cost value attributable to the Common Lands held by the Charity since constitution and there is no applicable market value to any of the land because of the status of the lands as Common Lands.

In addition to the Common Lands described above, the Charity also owns and administers The Wardman Meadow which was purchased 6[th] November 1998 (covering an approx. area of 39.29 acres) and Guilford Meadow which was acquired in January 2016 (covering an approx. area of 12.58 acres).

17

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2020

14. QUOTED INVESTMENTS

The charity’s investments are managed by Quilter Cheviot Limited to whom day to day administration of the investments has been delegated by the trustees. No one investment constitutes more than 15% of the charity’s assets.

15. CREDITORS:


Accruals
Deferred Income		 2020
£
8,698
3,261

11,959		 2019
£
3,460
3,245
6,705

Deferred income comprises of £3,261 Christopher Centre rents received in advance.

18

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2020

16. RECONCILIATION OF MOVEMENT IN NET FUNDS

Net Incoming/ (Outgoing) Resources before
Other Recognised Gains and Losses (page 4)
Realised Gains/ (Losses) on Investments
Unrealised Gains/ (Losses) on Investments
FUNDS BROUGHT FORWARD
AT 01 JANUARY 2020
FUNDS CARRIED FORWARD
AT 31 DECEMBER 2020		 Restricted
Funds
£
-
237,952
(187,468)
1,765,519
1,816,003		 Unrestricted

Income Funds

£
(7,856)
-
-
142,977
135,121		 Designated
Funds
£
18,000
-
-
93,084
111,084		 Total
£
10,144
237,952
(187,468)
2,001,580
2,062,208

17. RESTRICTED AND UNRESTRICTED FUNDS

By virtue of Paragraph 1 of the Scheme established to regulate the Charity, the Trustees consider that all the assets described in the Charity document constitute the restricted funds of the Charity and must be retained under their administration and management. The Trustees consider these funds to represent an expendable endowment in accordance with the SORP.

The income of the Charity each year, to the extent it has not been expended in accordance with Paragraphs 26 and 27 of the Scheme, is carried forward as unrestricted funds for disbursement in accordance with Paragraphs 26 and 27 in future years.

As at 31 December 2020 there is a balance of £19,807 remaining on the A R Wheeler Equipment Replacement Fund. This represents the balance remaining from a legacy totalling £54,750 received from Mr A R Wheeler and designated by the Trustees as an equipment replacement fund for use when required for that purpose.

In 2016, 14 acres of grazing land known as Guilford Meadow was acquired. In relation to this a grant of £10,031 was received from Babergh District Council for various works to be carried out to the meadowland. It is the conclusion of the Trustees that this amount represents a designated fund and should be treated accordingly.

During year ended 31 December 2019 the Charity received £18,746 as a legacy from Mrs Green and £7,000 from The Essex Trust which in accordance with the policy of establishing a designated fund for development from bequests and gifts (as outlined in the Trustees’ Report) has been recognised as part of designated funds. The same designation was made regarding funds received in the year ended 31 December 2018 of £15,000 from The Essex Trust and a £20,000 legacy from Mrs Murdoch and also in the year ended 31 December 2017 the Charity received £2,500 from Ecclesiastical Insurance. In 2020 the Charity received an additional £18,000 from The Essex Trust, this is the final year of that Charity.

19

SUDBURY COMMON LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2020

17. RESTRICTED AND UNRESTRICTED FUNDS (CONTINUED)

The restricted and unrestricted funds of the Charity are determined to be as follows:

Restricted Unrestricted Designated
Funds Funds Funds Total
Endowment - Expendable
£ £ £ £
Assets of the Charity at time of its
Constitution on 14 May 1987:
Investments, at Cost 14,743 8,000 - 22,743
Harp Close Meadow, at Selling Price 850,000 - - 850,000
Cash at bank 6,204 - - 6,204
870,947 8,000 - 878,947
Add: Net Realised and Unrealised Gains on
Investments to 31 December 2020 945,056 - - 945,056
A R Wheeler fund
(net of amounts invested in equipment) - - 19,807 19,807
Guilford Meadow Grant - - 10,031 10,031
Ecclesiastical Insurance - - 2,500 2,500
The Essex Trust - - 33,000 33,000
Mrs Murdoch Legacy - - 20,000 20,000
Mrs Green Legacy - - 25,746 25,746
Accumulated Surpluses on
And transfers to
Unrestricted Funds to
31 December 2020 - 127,121 - 117,403
Balances at 31 December 2020 1,816,003 135,121 111,084 2,062,208
REPRESENTED BY
Land and Property 491,365 491,365
Equipment etc 9,903 9,903
Investments
 1,314,735 29,911 111,084 1,455,730
Stock 2,180 2,180
Cash and bank balances
 __ 114,989 114,989
1,816,003 147,080 111,084 2,074,167
Less: Liabilities
 __ 11,959 ______ 11,959
1,816,003 135,121 111,084 2,062,208
  1. TRANSACTIONS WITH TRUSTEES

The Trustees received no remuneration or payment of expenses.

20

SUDBURY COMMON LANDS CHARITY

Registered Number: 212222

Independent Examiner’s Report to the Trustees of Sudbury Common Lands Charity.

I report on the accounts of the Charity for the year ended 31 December 2020 which are set out on pages 6 to 19.

Respective Responsibilities of Trustees and Examiner

As the Charity’s Trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 144 (2) of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145 of the Act, whether particular matters have come to my attention.

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

have not been met ; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Matthew M Wilkinson FCA

Moore Green Chartered Accountants

22 Friars Street Sudbury Suffolk CO10 2AA

Dated 7 May 2021