## **SUDBURY COMMON LANDS CHARITY**
## **ACCOUNTS 31 DECEMBER 2023**
**MOORE GREEN CHARTERED ACCOUNTANTS SUDBURY SUFFOLK**
## **SUDBURY COMMON LANDS CHARITY**
## **INDEX TO ACCOUNTS 31 DECEMBER 2023**
||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 AND PRINCIPAL ADDRESS OF THE CHARITY
A Walters Esq The Christopher Centre 10 Gainsborough Street Sudbury Suffolk CO10 2EU
TRAINEE SENIOR RANGER RANGER BANKERS
A Faiers Esq
R Neill Esq
Barclays Bank Plc 35 Market Hill Sudbury Suffolk CO10 2EP
INDEPENDENT EXAMINERS INVESTMENT MANAGERS
REGISTERED CHARITY NUMBER
Moore Green 22 Friars Street Sudbury Suffolk CO10 2AA
Quilter Plc One Kingsway London WC2B 6AN 212222
2
## **SUDBURY COMMON LANDS CHARITY**
## **TRUSTEES’ REPORT YEAR ENDED 31 DECEMBER 2023**
## TRUSTEES
The Trustees of the Charity are the same as those of the Sudbury Municipal Charities (SMC) with the addition of up to four nominative trustees appointed by the Freemen.
At 31 December 2023 the Trustees (together with their current term of office) were as follows:
## **Representative Trustees**
Mrs S Hobson (February 2022-2026) K Robins (November 2022-2026) R Bentley (February 2023-2027) P Whiteley (November 2023-2027) Ms M Berkouwer (November 2020-2024) D Dale (July 2022-2026)
## **Co-Optative Trustees**
G Challacombe (November 2019-2024) P Fulcher (Chairman) (July 2023-2028) The Reverend R Titford, (February 2020-2025) M Geddes (July 2022-2027) R Kemsley (November 2021-2026) Ms S-J Money (October 2019-2024)
## N **ominative (Freemen) Trustees**
N Eley (Vice Chairman) (July 2024) M Wheeler (July 2024) Mrs ALE Brown (July 2024) Mrs L Hunt (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 2023**
## 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 2023**
## 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 inflationary 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 to the Financial Statements.
The Trustees recognise their responsibilities in preparing these accounts, to
- Select and implement suitable accounting policies
- Ensure judgement is reasonable and prudent
- Prepare accounts on an ongoing basis
- Ensure the accuracy and transparency of records
- Safeguard the assets of the charity
- Prevent and detect fraud and other irregularities
- Comply with the above law and regulations
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 2023**
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
There were changes in staffing during the year. The Assistant Ranger left in August and the Senior Ranger at the end of September, both securing employment nearer their homes thus saving time and money on commuting. The first advertisement for Assistant Ranger had a very limited response with no suitable candidates for interview. The terms and conditions were altered from a 40 hour week to a 37 hour week, an increase in salaries with annual progression, and an increase in pension payments if requested. We also changed the job titles to Ranger and Senior Ranger. After two more interview rounds, we appointed a Trainee Senior Ranger and Ranger from the same interview panel. They started employment in January 2024.
In October Adrian the Clerk informed the Trustees he would be retiring completely at the end of June 2024. On behalf of the Trustees, I would like to thank him for his wonderful service to the Trustees for 31 years as a Ranger and 34 years as Clerk. He will be sorely missed but has said he will still be available to provide answers to queries when required.
The Chairman has continued in post and another Trustee appointed Vice Chairman. The Chairman will have completed his term of office in March 2024 and will be replaced by the Vice Chairman and another Vice Chairman appointed at the Annual General Meeting. Freeman Chris Wheeler resigned as a Trustee during the year and the Trustee thank him for his long service and are grateful for all the wise advice he provided. The Freemen have provided two new Trustees to complete their allocated numbers for the SCLC Trustees.
Due to the fact there were no Rangers during the period October-December Adrian Walters the Clerk (retired Ranger/Clerk) agreed to provide cover as far as was possible with one person and had his salary increased accordingly. The volunteers stepped up to help with contract work and volunteer days. The bin emptying under Sudbury Town and Babergh District Councils was also undertaken by a team of volunteers and the Trustees thank both Adrian and the volunteers for stepping in to ensure all necessary work was done. At the end of the year the volunteer group had expanded with new members joining the team.
Financially the Charity has coped reasonably well in the difficult financial climate. When the large bequest received in 2022 is discounted the receipts were maintained due to an increase in the investment income and because there was no major capital expenditure. The expected increase in the deficit in the Estate expenditure was minimal due to the increase in the investment income and having two staff vacancies for a while. There is likely to be a larger deficit in 2024 due to salary increases and the ceasing of a small contract with Cornard Parish Council (This contract was not profitable for the SCLC and was grounds maintenance rather than countryside management). Any deficit should be covered by investment income providing the UK economy recovers. Overall, the Charity’s Finances remain satisfactory.
On the Estate the Avian Flu epidemic has subsided and the bird life on the riverside does not appear to have suffered too much. In general, the diversity of the wildlife continues to improve although the orchids have again been affected by the very dry Spring but there are signs that this may change with the wet weather we have had during the Autumn and winter. However, the Deptford Pink and Lesser Calamint are doing well, and the tiny Harebell colony has expanded.
6
## **SUDBURY COMMON LANDS CHARITY**
## **TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 DECEMBER 2023**
The cattle were provided by one grazier again this year. He did however have to remove them as a matter of urgency due to the storms at the end of October which severely flooded the Common Lands. There was
however no flooding of the town, and this shows how effective the floodplain of the Common Lands is as a valuable asset in protecting the town. As ever work was carried out to keep the fencing secure.
Water voles are still present as are otters. Owls are still using nest boxes and the Cetti’s Warbler is now an all-year resident. Red Kite and Buzzards are regularly seen. There have also been sightings of a female Goosander, a Water Rail, Raven, Yellow Wagtail and Great White Egret. As well as a badger we now also have a fox frequenting the Depot. Hares are a regular sighting on the Wardman Meadows.
Following the resignations of the two Rangers some of the winter work programme was behind schedule. Having said this the waterlogged meadows could not be accessed without adversely affecting the flora and fauna.
Peter Fulcher On behalf of the Trustees
19 April 2024
```
………………….
```
7
## **SUDBURY COMMON LANDS CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|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 Designated
funds
funds
£
£
43,650
-
62,196
-
16,653 -
9,350
-
2,950
-
6,999
-
141,798 -
9,520
-
12,573
-
72,000 -
57,937
-
4,000
-
1,350
-
157,380 -
(15,582)
-
-
-
- -
(15,582)
-
127,366 322,691
111,784
322,691|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
101,129
101,129
1,731,369
1,832,498|2023
Total
funds
£
43,650
62,196
16,653
9,350
2,950
6,999
141,798
9,520
12,573
72,000
57,937
4,000
1,350
157,380
(15,582)
-
101,129
85,547
2,181,426
2,266,973|2022
Total
funds
£
34,621
59,074
16,089
10,200
214,865
6,304
341,153
7,659
4,701
76,552
43,324
3,750
2,358
138,344
202,809
-
(224,422)
(21,613)
2,203,039
2,181,426|
|---|---|---|---|---|
8
## **SUDBURY COMMON LANDS CHARITY**
## **BALANCE SHEET 31 DECEMBER 2023**
|Notes
FIXED ASSETS
Tangible Assets
13
Investments
14
CURRENT ASSETS
Stock of Books
Prepaid expenses
Cash at Bank and in Hand:
Current Account
Premium Account
Quilter Plc
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|2023
£
£
530,096
1,615,174
2,145,270
1,998
-
12,121
58,238
59,182
(9,836)
121,703
2,266,973
111,784
322,691
434,475
1,832,498
2,266,973|2022
£
2,055
-
12,584
129,632
50,859
(9,512)
|2022|2022|
£
541,731
1,454,077
1,995,808
185,618
2,181,426
127,366
322,691
450,057
1,731,369
2,181,426|
|---|---|---|---|---|---|
|||||
||
||
|
||||
|||||
||
|||||||
Approved by the Trustees on 19 April 2024 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 2023**
## 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 2023**
## 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
- (a) Realised gains (losses) represents the excess (deficiency) of sale proceeds over the valuation of the investment at the previous year end.
- (b) Unrealised gains (losses) represents the excess (deficiency) of the valuation of the investments at the year end over the previous year end or, where the investment was purchased during the year, over cost.
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 2023 (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)
Bloc Management – Grassland Management
Babergh – Bin Bags
GRASSLAND
Grazing income
ELS/HLS
OTHER ESTATE INCOME
Wayleaves
Brundon Lane Maintenance
Mills – Electrical Fence Provision|
|2023
£
11,094
29,941
2,615
43,650
7,948
26,422
13,039
-
-
2,000
12,619
69
72
27
62,196|
|2022
£
5,105
29,069
447
34,621
7,220
24,870
11,961
335
-
2,000
12,619
69
-
-
59,074|
|---|---|---|---|---|
||
||||
12
## **SUDBURY COMMON LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2023**
|
4.
5.
|
CHRISTOPHER CENTRE
Rent
Insurance
GRANTS & DONATIONS
Unrestricted Income Funds
Just Giving and Other Donations
Designated Income Funds
Donation
Legacy|2022
£
16,100
553
16,653
2,950
-
-
-|
|2021
£
15,817
272
16,089
3,258
5,000
206,607
211,607|
|---|---|---|---|---|
|||
|||
||||||
13
## **SUDBURY COMMON LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS YEAR TO 31 DECEMBER 2023 (CONTINUED)**
|6. SUNDRY INCOME
Sudbury Freemen’s Society
Sudbury Municipal Charities
NIC Rebate
Book Sales
Other income|2023
£
675
500
4,929
120
775
6,999|2022
£
675
500
4,929
150
59
6,304|
|---|---|---|
||
||
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
Insurance
Birchall Steel Lease Advice
8. GROVE COTTAGE EXPENDITURE
Insurance
Repairs and Miscellaneous
9. ESTATE MANAGEMENT
Land Management Expenses
Insurance and Tax
Ranger Salaries
Land Rover Running Expenses
Equipment
Depreciation of Tangible Fixed Assets
Disposal of Asset
|5,241
3,559
720
9,520
665
11,909
12,573
17,678
1,801
38,477
2,409
-
11,635
-
72,000|4,869
2,790
-
7,659
444
4,257
4,701
19,561
3,292
49,938
1,967
1,156
15,442
(14,804)
76,552|
|---|---|---|
||||
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 2023 (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|2023
£
11,852
8,534
31,789
3,150
2,555
57,937
4,000
4,000
1,350
-
1,350|
|2022
£
11,529
3,422
22,834
3,150
2,389
43,324
3,750
_
3,750
1,350
1,008
2,358|
|---|---|---|---|
|||
||
|||||
The freemen receive grazing income on the historic lands in lieu of taking up their rights.
15
## **SUDBURY COMMON LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2023**
13. TANGIBLE FIXED ASSETS
|13. TANGIBLE FIXED ASSETS|||||
|---|---|---|---|---|
|
Cost (see note 1)
At 1 January 2023
Additions
Disposals
At 31 December 2023
Depreciation
At 1 January 2023
Charge for Year
Disposals
At 31 December 2023
Net Book Values
At 31 December 2023
At 1 January 2023|Freehold
Land and
Property
£
495,193
-
-
495,193
-
-
-
495,193
495,193|Plant,
Equipment
and vehicle
£
78,077
-
-
78,077
31,539
11,635
-
43,174
34,903
46,538|
|Total
£
573,270
-
-
-
573,270
31,539
11,635
-
-
43,174
530,096
541,731|
|||||
|
(a) Freehold land and property comprises The Christopher Centre (a converted public house in Gainsborough Street, Sudbury, which was acquired in 1992 at a cost totalling £160,287), 40 acres of grazing land, known as The Wardman Meadows (purchased in November 1998 for an amount of £132,501 plus costs of £243) and Grove Cottage (acquired by the Charity during 2001 at a cost of £155,000 plus associated costs of £1,475).
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 £45,687 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 2023**
- (b) The Common Lands owned and administered by Sudbury Common Lands Charity as per Sudbury Common Lands Charity Scheme constituted on 14 May 1987 are as follows:
Approx 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 2023**
## 14. QUOTED INVESTMENTS
The charity’s investments are managed by Quilter Plc 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|2023
£
6,013
3,823
9,836|2022
£
5,869
3,643
9,512|
|---|---|---|
Deferred income comprises of £3,823 Christopher Centre rents received in advance.
## 16. RECONCILIATION OF MOVEMENT IN NET FUNDS
|Net Incoming/ (Outgoing) Resources before
Other Recognised Gains and Losses (page 7)
Realised Gains/ (Losses) on Investments
Unrealised Gains/ (Losses) on Investments
FUNDS BROUGHT FORWARD
AT 01 JANUARY 2023
FUNDS CARRIED FORWARD
AT 31 DECEMBER 2023|Restricted
Funds
£
-
(473)
101,602
1,731,369
1,832,498|Unrestricted
Income Funds
£
(15,582)
-
-
127,366
111,784|Designated
Funds
£
-
-
-
322,691
322,691|Total
£
(15,582)
(473)
101,602
2,181,426
2,266,974|
|---|---|---|---|---|
||||||
18
## **SUDBURY COMMON LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2023**
## 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 2022 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.
During the year ended 31 December 2022 the charity received a further £5,000 donation from Mrs S Fuller and a legacy of £206,607 from Mrs Jean Moscrop (Freeman). The Trustees have designated these amounts as part of the fund for development as with previous donations and bequests as outlined above.
19
## **SUDBURY COMMON LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR TO 31 DECEMBER 2023**
## 17. RESTRICTED AND UNRESTRICTED FUNDS (CONTINUED)
The restricted and unrestricted funds of the Charity are determined to be as follows:
|Restricted Unrestricted
Funds Funds
Endowment - Expendable
£ £
Assets of the Charity at time of its
Constitution on 14 May 1987:
Investments, at Cost
14,743
8,000
Harp Close Meadow, at Selling Price
850,000
-
Cash at bank
6,204
-
870,947
8,000
Add: Net Realised and Unrealised Gains on
Investments to 31 December 2023
961,551
-
A R Wheeler fund
(net of amounts invested in equipment)
-
-
Guilford Meadow Grant
-
-
Ecclesiastical Insurance
-
-
The Essex Trust
-
-
Mrs Murdoch Legacy
-
-
Mrs Green Legacy
-
-
Mrs S Fuller
-
-
Mrs J Moscrop Legacy - -
Accumulated Surpluses on
And transfers to
Unrestricted Funds to
31 December 2023
-
103,784
Balances at 31 December 2023
1,832,498
111,784
REPRESENTED BY
Land and Property
495,193
Equipment etc
34,903
Investments
1,292,483
Stock
1,998
Cash and bank balances
___9,919
119,622
1,832,498
121,620
Less: Liabilities
________9,836
1,832,498
111,784|Designated
Funds Total
£ £
-
22,743
-
850,000
-
6,204
-
878,947
-
961,551
19,807
19,807
10,031
10,031
2,500
2,500
33,000
33,000
20,000
20,000
25,746
25,746
5,000
5,000
206,607 206,607
-
103,784
322,691
2,266,973
495,193
34,903
322,691 1,615,174
1,998
- 129,541
322,691 2,276,809
______9,836
322,691 2,266,973|
|---|---|
18. 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 2023 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:
- 1)
which gives me reasonable cause to believe that in any material respect the requirements
- to keep accounting records in accordance with section 41 of the Act; and
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
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 19 April 2024