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2025-04-05-accounts

Registered Charity (213982)

Report of the Trustees and Financial Statements For The Year Ended 5 April 2025

for The Metcalfe Charitable Trust

The Metcalfe Charitable Trust

Contents

Charity information 1
Report of Trustees 2-6
Independent Examiners report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10-16

-1-

The Metcalfe Charitable Trust

Charity Information
Charity Number 213982
Trustees Mr C Harrison
Mrs P Backhouse
Mr R Scott
Mrs J Bere
Mr L Foster
Principal Office 9 The Paddocks
Lound
Retford
DN22 8RR
Solicitors Sills & Betteridge
46 Silver Street
Lincoln
LN2 1ED
Bankers HSBC Bank plc
31 Carolgate
Retford
Notts
DN22 6DA
Independent Examiner Amanda Mansell ACA
Darbys Limited
Chartered Certified Accountants
19 The Square
Retford
Nottinghamshire
DN22 6DQ

-2-

The Metcalfe Charitable Trust Trustees Report

For the year ended 5 April 2025

The Trustees present their annual report for the year ended April 2025 in respect of The Metcalfe Charitable Trust.

Objectives and Activities

The Trust was founded by the will of William Harland Metcalfe proved in the Principal Registry on the 23rd February 1946.

A Scheme was adopted on 7th December 1960 and registered with the Charity Commissioners for England and Wales under registered number 213982.

The Scheme defines Charity's objectives as being:-

"To operate and maintain the land and buildings thereon, in the parish of Everton comprising the Parish Institute. For the benefit of the inhabitants of the parishes of Everton and Scaftworth in the County of Nottinghamshire and apply any surplus income for such other charitable purposes for the benefit of the said inhabitants as the Trustees deem fit".

The Trust administers the endowments for the benefit of the inhabitants of the Parishes of Everton and Scaftworth, which include the hamlets of Harwell and Drakeholes. In practice this comprises the management and maintenance of the Village Hall, Metcalfe Sports Grounds and Children’s Playground. In addition, when appropriate, the Trust financially supports other activities within the two Parishes. The Trust is specifically barred from applying any of its resources in the relief of rates, taxes or other public funds.

The facilities provided by the Trust in accordance with its constitution are open to the general public, with particular attention afforded to the local community.

Achievement and Performance

The Charity's income derives from rents and financial investments. Trustees seek to manage the estate to provide the necessary income to support the Charity's aim in accordance with its approved Trust Deeds.

The Trust remains in a strong and fully resourced position to take positive active to properly maintain assetts and support community services for the benefaction of the local parishioners

For many years, the Trust has led focussed and necessary maintenance across the multi-purpose property portfolio. By utilising long term maintenance plans, property costs are managed proactively, which means investment is managed and controlled over a long period of time.

The Trust continues to utilise the services of a paid part time Secretary and Finance Officer. This role assists in the administration and management of the Trust and enables the Trust to embrace best practice ways of working, including a proactive and transparent communications policy in response to Parish interest in the Trust. A monthly update is provided via the local ‘HEDS’ free newsletter and communications are all passed via the Trust Secretary to ensure a consistent approach.

Management Strategy

Strategic Review

The Trustees are still working to the principles laid out in the 2021 Business Plan, which encompassed the needs of the local Neighbourhood Plan. As originally laid out in the business plan, the Trustees continue to undertake the current services and delivery of the Trust and its voluntary partners whilst trying to increase community engagement and use of Trust facilities.

-3-

The Metcalfe Charitable Trust

Trustees Report For the year ended 5 April 2025

Strategic Objectives

  1. Continue to provide support for the benefit of the local community mainly through

  2. a. the provision of necessary and highly demanded capital assets and

  3. b. continued financial support for specific events

  4. The Investment fund will be managed in accordance with the agreed investment strategy being overseen by The Progeny Group. The Trust will manage investment funds to sustain:

  5. a. annual expenditure of c£83,000 (plus RPI) to be funded out of investment funds, plus

  6. b. further capital fund growth in line with annual inflation or just above.

  7. Further improve a stronger foundation of internal controls and systems to deliver all necessary aspects of good governance.

Specifically, Trustees aim to deliver projects that will:

Target Deliverables

1. Compliance, processes and resources

Policies and procedures will be formalised and published on the Trusts Intranet.

A 2025/6 Budget will be approved in accordance with the long-term investment strategy.

Trustee training will be delivered in accordance with the guidance of the Charities Commission.

Contracts of Employment, Staff Handbooks & Training Plans, Risk Assessments and all other necessary documentation will be created/updated and issued as required for all staff employed by the Trust.

2. Investment Funds

See section below

3. Developing Environmental/Ecological Improvements

Trustees will engage with local groups looking to develop improvements to trust lands where possible and relevant. This will include projects on the recreation ground and other trust land where funding is affordable and benefaction to the whole community can be justified.

4. Renovation of existing buildings and provide relevant community facilities

In accordance with the dilapidations report improvements will be delivered to all current buildings.

Where buildings are in serious need of investment due to poor condition the Trust will consider rebuilding or changing scope of such buildings to improve the usage by, and relevance to, the local community. Such buildings include, but not exclusively, the Old Coach House, Changing Facilities and Tea Rooms, all located on the recreation grounds. Trustees carried out a public consultation event around the re-development of the above buildings, and following this planning permission has been granted to provide a new access point, carpark, demolition of the tea-room building (which has lasted much longer thats it's expected life) and to build a new village hub and upgrade to the play area equipment. Increases in construction cost during the planning period mean that this project is currently unaffordable to deliver in one phase. The Trustees have therefore decided to take a phased approach to the works and in the year ending April 2025 the new access and carpark were created, the tea rooms demolished and the play park reconfigured. The next phases of the work, due for completion by the end of 2026 will be the refurbishment of the amenity block and the addition of further play

-4-

The Metcalfe Charitable Trust Trustees Report For the year ended 5 April 2025

The usage and relevance of the Village Hall will continually be reviewed. Where changes are seen to be needed the Trust will consider further investment needs with community engagement being sought as necessary.

5. Promote community engagement and voluntary involvement

Local comminuties benefit greatly from the energy and voluntary support offered by a wide range of individuals. Many of the improvement projects being considered by the Trust can involve local people and thus galvanise a strong spirit of community success where projects are delivered through voluntary involvement. The role of the MRC could be significant in this process and the Trust will seek support from the MRC in many of the projects being considered above.

The Trust's routine operational activities are also supported by the Metcalfe Recreation Committee (MRC). The committee consists of volunteers and user group representatives, who collectively through the committee, help to oversee specific day to day activities of the Trust. They predominantly self-manage the booking and use of facilities with some support provided by the Secretary, if required.

Financial Review

At the year end the Charitable Trust held the following reserves:

2025 2024
Endowment Fund
138,812		 138,812
Unrestricted Fund 3,560,779 3,694,935
Total 3,699,591 3,833,747

Investment Policy

The policy is to invest in stock market investments, using an Investment Platform provider that has an A+ credit rating with S & P Global, with the emphasis being on revenue flow whilst at the same time aiming for a steady capital growth to allow for inflationary pressures.

The Trust’s longer-term financial strategy aims to give it financial security now and in the future. The Trust is well placed to fund its ongoing revenue expenditure. Any income generated from the investment over and above the routine expenditure during the year is reinvested to provide capital growth. The Trust's Investment Policy is regularly reviewed with its appointed Investment Manager.

Reserves

The aim is to maintain a minimum freely accessible cash reserves to cover management administration and support costs for a period of at least one year.

Structure, Governance and Management

The Trustees who have served during the year are listed on page 1. There are five Trustees supported by a Secretary who administers the endowments of William Harland Metcalfe. These endowments comprise land and property in Everton together with investments and cash. The Trustees usually meet monthly to carry out routine management functions.

The Charitable Trust is a registered charity and is governed by its Trust Deed.

Trustees are recruited having regard for the skills required to make the charity successful.

The Trust comprises two Trustees nominated by the Parish Council, who are appointed for 4 years and can be reappointed, and three co-optative Trustees.

The co-optative Trustees are recruited from the Parishes of Scaftworth and Everton following adverts in the Parish newsletter. Co-optative Trustees are appointed for five years and can also be reappointed.

-5-

The Metcalfe Charitable Trust Trustees Report For the year ended 5 April 2025

Trustees Responsibility

The trustees responsible for preparing the Trustees' Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Trust and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Trust for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that support with reasonable accuracy at any time the financial position of the Charitable Trust. They are also responsible for safeguarding the assets of the Charitable Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Risk Management

The Trustees monitor investments and the financial position at a minimum of once every three months. The risks to the Trust are minimised by its investment policy and careful control of costs. Operational risks are minimised by an ongoing programme to modernise the amenities, improve efficiency and strict adherence to mandatory regulations in respect of public buildings and changes in legislation.

The Trustees employ expert consultants across a range of disciplines to ensure Operational, Property and Health & Safety risks are reviewed and managed on a continuing basis. The Trustees have created long term risk management plans and have implemented changes to maintain and secure the longevity and continued use of buildings, property , trees, management systems, employees and other key assets.

-6-

The Metcalfe Charitable Trust Trustees Report For the year ended 5 April 2025

Reference and Administrative Details

Name: The Metcalfe Charitable Trust Charity Number: 213982 Principle Office: 9 The Paddocks Lound Retford DN22 0DP Trustees: The Trustees of the Charitable Trust at the year end were:Mr C Harrison Mr H Spink Mrs J Bere Mrs P Backhouse Mr R Scott

On behalf of the board

Authorised for issue on 13th January 2026

Mr C Harrison - Trustee

The notes on pages 10 to 16 form part of these accounts

-7-

Independent Examiner's Report to the trustees of The Metcalfe Charitable Trust

For the year ended 5 April 2025

I report to the trustees on my examination of the accounts of The Metcalfe Charitable Trust (the Trust) for the year ended 5th April 2025.

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 Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the 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:

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.

A Mansell ACA Darbys Limited Chartered Certified Accountants 19 The Square Retford Nottinghamshire DN22 6DQ

13th January 2026

-8-

The Metcalfe Charitable Trust

Unrestricted
Endowment
Funds
Funds
Incoming resources
Note
Incoming resources from
generated funds:
Donations, legacies & grants
2,200
Club contributions
15,206
Investment income
Rent receivable
5,047
Marketable securities
16,625
Bank interest
360
Other income
0
Total incoming resources
39,438
0
Resources expended
Cost of generating funds
2
Property
2,416
Recreation committee
8,940
Investment costs
10,555
Charitable activities
2
91,611
113,521
0
Net income/(expenditure)
(74,083)
Transfers between funds
Gains/(Losses) on investment assets
(60,073)
Net movement in funds
10
(134,156)
0
3,694,935
138,812
Total funds carried forward
3,560,779
138,812
Village institute and
recreation ground
Statement of Financial Activities for
the year ended 5 April 2025		 2025
Total
Funds
2,200
15,206
5,047
16,625
360
0
39,438
2,416
8,940
10,555
91,611
113,521
(74,083)
0
(60,073)
(134,156)
3,833,747
3,699,591		 2024
Total
Funds
4,142
24,060
6,137
14,334
321
5,368
54,362
2,776
10,722
13,061
84,225
110,784
(56,422)
0
436,271
379,849
3,453,898
3,833,747

-9-

The Metcalfe Charitable Trust

Balance Sheet as at 5 April 2025

Note
Fixed assets
Tangible assets
4
Investments
5
Current assets
Debtors
6
Bank accounts
7
Creditors
Amounts falling due within
one year
8
Net current assets
Total assets less current liabilities
Net assets
Endowment Fund
Unrestricted funds
Unrestricted revaluation fund
Total funds		 £
£
373,490
3,255,400
3,628,890
11,759
59,961
71,720
1,020
70,700
3,699,591
3,699,591
138,812
255,549
3,305,230
3,699,591
2025		 £
£
102,730
3,664,848
3,767,578
21,389
45,799
67,188
1,020
66,168
3,833,747
3,833,747
138,812
329,632
3,365,303
3,833,747
2024

Approved by the Metcalfe Charitable Trust on 13th January 2026 and signed on its behalf by:

....................................................

Mr C Harrison - Trustee

The notes on pages 10 to 16 form part of these accounts

-10-

The Metcalfe Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

1. Accounting policies

1.1. Accounting convention

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

1.2. Going Concern

The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the Charity.

1.3. Accumulated Funds

Permanent Endowment Fund: This is represented by the probate values of the properties used for the purpose of the Trust net of permitted disposals. Under the terms of the Trust's Governing Instrument the endowment cannot be realised to supplement the Charity's income available to further the Charity's objectives.

1.4. Fixed Assets

Freehold properties are recorded at probate value plus improvements at cost.

1.5. Depreciation

The freehold properties probate values are not depreciated as in the opinion of the Trustees their residual value is far in excess of their probate values. As these properties are occupied for charitable purposes and are kept in good repair, the Trustees do not consider any depreciation would be material. Property enhancements are depreciated over 30 years.

Recreation ground equipment net of residual value is written off over its useful economic life at a rate of 20% per annum on a straight line basis.

-11-

The Metcalfe Charitable Trust

Notes to the financial statements

for the year ended 5 April 2025

1.6. Investments

(i) Freehold Properties

The freehold properties held for the purpose of investment are valued at their estimated market value. Any gain or loss on revaluation is taken to the Statement of Financial Activities.

(ii) Listed Investments

The listed investments are recorded at their market values as provided by the Trusts fund managers. Any gain or loss is taken to the Statement of Financial Activities.

1.7. Investment Income

Investment income is accounted for as follows:

(i) Listed - amounts receivable during the year.

(ii) Short Term Deposits - amounts receivable during the year. (iii) Rents - amounts receivable during the year.

1.8. Donations and Legacies

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.

1.9. Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, its probable settlement is required, and the amount can be measured reliably.

1.10. Value Added Tax

The Charity is not registered for Value Added Tax and is therefore unable to reclaim Value Added Tax on its expenses. Expenditure in these financial statements is therefore shown inclusive of Value Added Tax.

-12-

The Metcalfe Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

**2. ** Resources expended
Property
Letting Commission
Insurance
Repairs and Cleaning
Professional Fees
Light and heat
Legal fees property sale
Metcalfe Recreation Committee
Repairs and Maintenance
Water
Light & Heat
Rates
Caretakers minor items
Repairs and Maintenance
Events/Activities
Water
Light & Heat
Professional Fees
Rates
Secretary's Office Allowance
Gifts
Broadband
Sundry expenses
Investment costs
Fund manager fees
Charitable activities
Honoraria and Wages
Groundsman Fees
Repairs to Property & Grounds
Depreciation
Accountancy
Professional Fees
Insurance
Sundries
Repairs to Equipment
Total resources expended		 £
571
0
1,365
480
0
2,416
721
1,620
741
255
772
846
155
443
1,839
0
48
0
1,500
8,940
10,555
0
21,910
Cost of
Generated
Funds		 £
0
0
0
12,519
29,943
7,105
7,214
1,115
20,098
8,480
5,137
0
91,611
91,611
Direct
charitable
activity		 Total
2025
£
571
0
1,365
480
0
0
2,416
721
1,620
741
255
772
846
155
443
1,839
0
48
0
0
0
1,500
8,940
10,555
12,519
29,943
7,105
7,214
1,115
20,098
8,480
5,137
0
91,611
113,521		 Total
2024
£
702
0
1,834
0
240
0
2,776
132
1,465
44
210
455
557
4,694
420
1,228
0
85
0
0
804
627
10,721
13,061
19,721
27,861
17,243
5,621
1,220
0
8,367
1,591
2,600
84,224
110,782

-13-

The Metcalfe Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

3. Staff costs

Staff costs
2025 2024
Staff Costs were: £ £
Honoraria and Fees 12,519 19,721
The average weekly number of staff employed by the charity 2025 2024
during the year was as follows:
Direct Charitable Work 3 3

No Trustee received any remuneration. No amounts were reimbursed to them for travel expenses.

**4. ** Tangible fixed assets
Cost
At 6 April 2024
Additions
Disposals
At 5 April 2025
Depreciation
At 6 April 2024
Charge
Eliminated on disposal
At 5 April 2025
Net book value
At 6 April 2024
At 5 April 2025		 Freehold Land
& Buildings
122,698
275,774
398,472
30,498
2,063
32,561
92,200
365,911		 Plant &
Equipment
52,419
2,200
54,619
41,889
5,151
47,040
10,530
7,579		 Total
175,117
277,974
453,091
72,387
7,214
79,601
102,730
373,490

-14-

The Metcalfe Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

4. Tangible fixed assets (cont'd)

Freehold land and buildings can be further analysed as follows:-

Institute Everton
- Original
- 2010 Alteration
- 2011 Alteration
Pine Cottage
- Original
- 2010 Alteration
- 2012 Alteration
Thompson Land
HUB development
Tennis Courts
Cost at 5 April 2025		 £
44,446
49,578
969
16,007
10,752
576
370
239,246
36,528
398,472

The net book value at 5 April 2025 represents fixed assets used for:

Charity Activity
Purposes
5. Investments
Market Value at 6 April 2024
Additions
Disposals
(Loss)/Profit on investments
Revaluation of investments
Market Value at 5 April 2025		 Endowment
Fund Freehold
Land and
Property
£
63,825
Investment
Properties
£
-		 Un-restricted
Land and
Property
£
302,086
Marketable
Securities
£
3,664,848
16,625
-366,000
-60,073
3,255,400		 Un-restricted
Plant and
Equipment
£
7,579
2025
£
3,664,848
16,625
-366,000
0
-60,073
3,255,400		 Total
£
373,490
2024
£
3,294,242
14,335
-80,000
0
436,271
3,664,848

-15-

The Metcalfe Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

6. Debtors and prepayments

Amounts falling due within one year:
Managing Agents
Prepayments
Cash at bank and in hand
Deposit Account Balance - Recreation Committee
Deposit Account Balance - Trust
Current Account - Recreation Committee
Current Account - Trust
Cash Account - Recreation Committee
Aegon Cash Funds
Creditors
Amounts falling due within one year:
Accrued expenses - Accountancy
Deferred Income
Analysis of net assets between funds
Unrestricted
Tangible fixed assets
3,490,078
Current assets
71,720
Current liabilities
1,020
-
3,560,779		 Endowment
138,812
-
138,812		 2025
£
-
11,759
11,759
2025
£
675
21,695
22,093
338
15,160
59,961
2025
£
1,020
-
1,020
Total
3,628,890
71,720
1,020
-
3,699,591		 2024
£
-
21,389
15,505
2024
£
668
20,948
8,521
300
15,362
45,799
2024
£
1,020
-
1,020
2024
3,767,578
67,188
1,020
-
3,833,747

7. Cash at bank and in hand

8. Creditors

9. Analysis of net assets between funds

-16-

The Metcalfe Charitable Trust

Notes to the financial statements for the year ended 5 April 2025

10.
Movement in funds
Endowment Funds
Permanent Endowment Fund
Unrestricted Funds
Designated Fund
General Fund
Revaluations Fund
Total Funds		 As at
06/04/2024
138,812
138,812
-
329,632
3,365,303
3,694,935
3,833,747		 Incoming
resources
-
39,438
-60,073
-20,635
-20,635		 Outgoing
resources
-
113,521
113,521
113,521		 Transfers
-
0
-		 As at
05/04/25
138,812
138,812
-
255,549
3,305,230
3,560,779
3,699,591