Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 16..91. 88T(UTC +11 D 111 P 1r32 Charity number: 238379 TOWN AND MANOR OF HUNGERFORD UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.57 88T(UTC +11 D 111 P 202 TOWN AND MANOR OF HUNGERFORD CONTENTS Page Reference and administralive details of the Charity. its Trustees and advisers Trustees. report Independent examinerfs report 10-11 Statement of financial activities 12 Balance sheet 13 ststement of cash flows 14 Notes to th8 financial statements 15-30
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.57 88T(UTC +11 D 111 P TOWN AND MANOR OF HUNGERFORD REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2020 Trustees E Dickins Iresigned 20 October 2020) B Mayhew T Bossom J Dickins {c(poplA 18 February 2020) BBa J Weware G FU (Constable appolnted 24 September 2020) C Scorey F Hobson N Lumley {Constable until resigned 24 September 20201 R Hall P Porter J Dennis (appointed 20 October 20201 Charity registered number 238379 Principal offico Town Hall High Street Hungerford Berkshire RG17 ONF Chief executive officer E Dickins Aceounthnts James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Bu5ine5s Pa Greenham Newbury Berkshire RG19 6AB Bankers National Weskninster Bk PLC 30 Market Place Newbury Berkshire RG14 SAG Solicitors Royd5 Withy lfjng 34 Regent Circu5 Swindon Wiltshire SN1 1PY Investment managers Smith & Williamson Investment Management LLP 25 Moorgate London EC2R 6AY Land agonUCharteTed Sur48yor Carter Jonas LLP 9-10 Jewry Street Winchester Hampshire S023 8FiZ Page 1
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.57 88T(UTC +11 D 111 P4M2 TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees present their annual report together wth the financial statements of the Charity for the 1 January 2020 to 31 December 2020. The Trustees confirm that the annual rep)rt and financial statements comply with the Charities Act 2011, the requirements of the goveming documents and Accounting and Reporttng by Charities.. Statement of Recommended Practice {SORPI applicable to charities preparing their accounts in accordance wqth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191. OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT The charitable purpose of the Town & Manor is to manage its assets, now and in the future, for the benefit of the inhabitants of Hungerford. To achieve this, we- Manage the land and buildings in a financially and environmentally sustainable way. Uphold the unique traditions of Hungerford. Provide financial support lo groups. causes and projects, Mithin the area of benefit. PreseNe and protect the ancient r¢ghls of the Commoners. The Charity maintains assets. land and buildings. These include Heritage Assets which under the charity accounting rules (the SORPI are defined as: A heritage asset is a tangible or intangible asset with historical, artistic, scientific, technological, geophysical or environmental qualities that is held and maintained prinapally for its contribution to knovAedge and culture. An asset may have the attributes of a heritage asset. for example it may be of historic or artistic importan, but unless it is also held and maintained for its contribution lo knowledge and culture then it will not fall wthin the definition of a heritage asset. As part of this definition, is the question of whether the assets can be sold or must be kept. Those that are integral to the chantys purpose could only be sold in exceptional circumstances. The assets are as follows.. Hungerford Town Hall Complex The current building was built in 1871 by Town & Manor and is available to the public for community and public use. 11 is a key part of the Town & Manor's heritsge and a building that has lo be retained. unless exceptional circumstances require. The consent of the Charity Commission would have to be sought for any signrficant change. The building has local historical and cultural value. John O'Gaunt Inn Thought to have 13th century origins, and il has been in ownership of the Town & Manor since 1617. We currenuy rent the Inn out on a commerclal basls. There Is publlc aCss. However, It Is not of as great hlstothcal or cultural value as the Town Hall. This asset could be sold rf required. Portdown Common & Freeman's Marsh Parts of both are registered as 'Sites of Special scntifiC Interest. ISSSlsl and as such are managed under a Defra Stewardship Scheme. They are also managed as public open space. Portdown Common also contains 'lynchettes'. which are historical and protected remains from medieval farming practices. Both Portdown Common and Freeman's Marsh have been owned by the Town & Manor since at least 1552 learliest reference). We could not sell these assets and must maintain them as part of the historic and Commoners, rights a5socialed with them lunle5s the land and rights are replaced). We hold public educational visits annually. for which we receive specrfic funding for from Defra. Page 2
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.58 88T(UTC +11 D 111 P TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT (continued) Harvoy's Meadow & Eddington Marsh Humphrey Fairfax-HaNey was Constable of the To*'n & Manor from 1950-56. In the 1970,5 he bequeathed the Meadow to the Town & Manor. This site is designated as a SSSI and Special ea of Conservation {SACI. As such it is managed and maintained as such for its saenlific value. This includes access for research and Inanaged a¢(tss for the public (provided in organised lalksltoursl. Tlie site is maintsined foi its wildlife value (in particular the Desmoulin's Whorl Snail) and is also accessed by bird ringing professionals. This asset could be sold if required. Wrk00p0r's Housa This house wa5 built by Town & Manor in 1973 and was later extended in 2003. A workshop was then added in 2007. This house is used to accommodate a member of staff and does not hold any historic or cultural value, and therefore could be sold if required. The Fishery The Fishery has been owned by Town & Manor sirKe the 14th century. It is also registered as an SSSI for its scientific value. Public access is provided through organised talks and walks. The fishing righls are an essential part of the cullural heritage of Hungerford. It is not clear Mthelher this asset could be sold if required. Tha Fishary Huts These are sheds that are in place on the Fishery for use by the fishemien. They do rt hold any signrficant historic value. Tha Croft The Croft was gifted to the Town & Manor in circa 1550. 11 is thought lo be the original village green for Hungerford. It 15 open for public access and available for hire. This asset could not be sold. Charnham Street Meadows These were acquired in the 1930s originally and more recently and addib.onal 2.4 hectares were acquired as part of the development of Charnham Park. In 2000 a further strip of land was purchased for £15,745 and does not have any heritage value. Public access is not permitted. Hungerford Marsh Hungerford Marsh was acquired by the Trustees in 2017. The charity acquired the land as a regislered SSSI and subject to a 10-year Higher Stewardship Agreement with Natural England to be concluded 2022. The fishing is lel on a commercial basis. Piek8t Maad Picket Mead is an historic orchard acquired in 2017. The land is not open to public acces5. however the orchard has been restored and is now used for the production of apple juice and cider. This asset could be sold rf required. Undy's Meadow Un(Vs Meadow was purchased in 2018 for the sum of £131.471. This land adjoins Charnham Street Meadows is 16.19 hectares in size and consists of low-lying water meadow within the AONB. It indudes additional fishing on the River Kennet. The purchase protects existing land holdings and has FX)tenlial for a larger project. A feasibility study is being undertaken to consider the longer term uses of the land. Page 3
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.58 88T(UTC +11 D 111 P 6r32 TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 OBJECTIVES AND ACTIVITIES FOR PUBLIC BENEFIT (continued) Canal Walk The Charity acquired the sotl rights below the highway of Canal Walk in 2019 and land adjoining the existing garages for the sum of £8.OC(). This provides additional vehicular access to Hungerford Marsh. HOW THE CHARITY USES ITS ASSETS In order lo have funds to maintain the Charity's assets and to further the objects of the Charity. the Trustees secure income from its assets as follows.. Portdown Common and Freeman'5 Marsh are available to be grazed by Commoners, cattle. but where Commoners do not take up their rights the grazing is let to local farmers. The Town Hall Complex is available to many organisations for functions, including community and business meetings, weddings, exhibib"ons, social funth.ons and retail events. We offer a discount or free usage to other Charities. The Water Keeper's House is maintained for the use ofthe Water Keeper. The Fishery is let out to a number of rods who all pay an annual licence fee. The Fishery also accommc&lates the rights of the Commoners lo fish for 3 days per week. Hungerford Marsh is let out to grazing and also derivès income from annual rod lieenee fees. The Croft is let out for occasional events. Charnham Meadows can be let out for grazing. but isn't currently. It is the policy of the Trustees that. wherever possible, the assets should generate surplus income to assist in the running of the Charity and to enable it support local organisations. However. from time lo time defiats may arise due to exceptional expenditure such as capital projects or repairs that cannot be spread over several years. It is often the case that the Buildings Account has an overall deficit due to the high costs of maintenance of the Town Hall and this is funded by the Surpluses from other areas. There was a major refijrbishment for the Town Hall Complex in 2018 and 2019 with a final cost of £60k. This was part of a condib.on survey of the building which provides a longer-temi plan for repairs to the Town Hall Complex. The majority of these costs were to the r&)f but also included the Bellman's Bell and the weathervane repairs. ACHIEVEMENTS AND PERFORMANCE Grant Making Policy The Trustees prortK*te charitable purposes for the benefrt of the inhabilants of Hungerford, by the granting of donations where it is considered appropriate. The total amount of donations made in 2020 were £5.090, detailed in note 5 to the accounts. These grants to lttal gTOUPS span all age ranges. as in previous years. Investrnent Policy The investments are managed on a discretionary basis by Smith and Williamson, the performance of which is remewed biannually. Smith and Williamson is athhonsed and regulated by the Finanaal Conduct Authority and member of the Association of Private Client Investment Managers and Stockbrokers IAPCIMSI. The reserves are invested with an objective of providing a balance betrKeen income and growth. The strategy followed lo meet this objective is investment in a multi-asset portfolio, intended to offer the potential for greater returns than cash and fixed interest alone by induding limited amounts of equities and alternative investments. Perfomance of the portfolio is measured against the SE WMA Stock Market Conservative Index (Total Relum). Page 4
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.$9 88T(UTC +11 D 111 P 7r32 TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 ACHIEVEMENTS AND PERFORMANCE (continued) Public Benefit The Trustees are continually engaged in endeavouring to promote the charitable worts of the Charity wthin Hungerford. In considering their activities for the year the TNslees have had regard to Charity Commission guidance on public benefft. Portdown Common and Freeman's Nlarsh are freely available to the public for recreational use. Lal inhabitants and organisalions receive discounts on hiring fees for the Town Hall. The TNstees also lease land to both the local football and cricket dubs. Constable's Statement for the Year The Town and Manor has continued to support the residents as well as improve the environment of Hungerford, despite the difficult circumstances of coping wrth the CoMd-19 pandemic. We have continued to support our ancient market by marshalling and ensuring soctal distancing and keeping inline wqth Govemment guidelines at all limes. For some members of the community this was their only activity all week. Our thanks also to all the market stall holders who went above and beyond lo ensure all traders and shoppers were safe. Our revenue for the hire of the Town Hall was decimated by the pandemic in 2020, and thanks lo local counc#l business rates grants. we were able to keep the building in gcod repair. alongside our hall keepers being fudoughed during this time. Fortunately the Covid-19 reslrietions wère lrfted for fishing on 13th May Nthich meant that our major ineome source could continue. The fishing season was very good, and the budget for guest tickets was exceeded. Alongside this we have increased the waiting list for our syndicates which will ensure we keep the numbers of rcxls on the river. That, alongside restrictions on travel ensured we had a good season. We were fortunate to graze cattle again and. despite lower numbers, il worked out well to keep the grass levels appropriate for our 51ewardship grants due to the hot. dry Spring and summer. Our committee chairs are competent in the administration and organisalion of our committees, and we now have a strong team to lead the Town and Manor over the next 10 years. We are still considering the creation of a 30 acre wetland on the site of Un(Vs meadow. A scoping study has been completed, and the charity is looking to raise funds by applwng for grants to take this project fvrther. There may be scope to improve the river Kennet above Eddington Mill as well as reconnect the historic river channel to the flcx)d plain that is Undys meadow. The Town and Manor charity has again made a significant number of donations lo local groups and charities, induding various sports clubs and associations Mithin the Town. The Trustees are particularly keen on supporting the youth and environmental improvement organisations All of this work is funded by income raised by the Charity through its land and assets. at no cost to the residents of Hungerford. I'd like to thank our CEO Trustees, staff and volunteers for their hard work and help over the year and I Iwk fotward to the Town and Manor continuing to the holistic benefit of Hungerford and the surrounding area in the heart of the North Wessex Downs AONB. FINANCIAL REVIEW Reserves Policy The charitable object of the charity is to promote and provide grants for the inhabitants of Hungerford and the Libety of Sanden Fee. It achieves this through the pNdenl management of its lands, buildings and finances. It maintains reserves that are freely available for operating purposes not subject lo commilmenls. planned expenditure or spending limits. Page 5
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.$9 88T(UTC +11 D 111 P TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 The reserves are maintained to cover potential future risks" Significant loss of income- the fishery due to pollution or a major drop in water levels,. the land due to factors beyond our control, for example a foot and mouth outbreak. Changes in govemment policy relating lo the grants available. Serious and immediate need for repairs lo the Town Hall Complex. not covered by insurance. Risks The key risks that the Charity faces are managed as follows.. Proparty Risk: The properties held by the Charity Could suffer significant damage or need major repair. Catastrophic events are insured for and reserves ale kept lo deal with any repair5 needed at short notice. The most signfficant risk is the Town Hall for which futher consideration is made to ensure in the long term this building is maintained to sufficient standards. Investment Risk: The reserves held by the Charity are essents.al lo keewng it in a secure position shId any serious inadents affect its financial position. Investments are currently held Mryth an approved broker (Smith & Williamson) and are regularly reviewed. Income Risk: The Charity is heavily dependent upon income from the Fishery for ils financial stability. This income can be affected by events on the River Kennet. such as pollution or drought. The Trustees wort to address these risks where they are within their control and also contribute lo schemes to improve the Kennet through organisations such as Action for the River Kennet, Natural England and the Environment Agency. The rèservès are maintained lo a sufficient level to providè a buffer against a significant or sustained loss in income from the Fishery. Financial review for the year The accounts showed a net surplus of £61.219 which is a significant improvement on 2019. The large proportion of this came from the various govemment Covid grant schemes {business rates, CJRS). along with no large scale repair5 occurring in 2020. The Covid-19 crisis has affected the charity with the closure of the Town Hall and a delayed start to the Fishery opening. The financial impact has been that certain expenses have not been incurred, such as HocktÉde, resulting in an increased surplus for the year. The charity fvjlly expects to weather the crisis with minimal long temi impacts. STRUCTURE. GOVERNANCE AND MANAGEMENT Obiectivas The TNstees' objective is to Nn the Charity wth a small sutplus. The Governing Document of the Charity is based on a Charity Commission Scheme dated 9 May 1990. amended and authorised by the Charity Commission on 30 May 2012, and approved by the Trustees on 9 September 2015. This Scheme replaced a Scheme of 11 February 1 8. On 20 November 2018 a SUPFAemental deed was submitted to and approved by the Charity Commission to amend clause 25 of the Scheme. The amendment albws for a variation in length of terms of Trustees. Page 6
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 18..9I.$9 88T(UTC +11 D 111 P TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 STRUCTURE. GOVERNANCE AND MANAGEMENT (continued) The Objects of the Charity are laid down in the Goveming Document as.. The Object of the Charity shall be to promote such charitable purposes for the benefit of the inhabitanls of the area of benefit as the Trustees shall fron) time lo lime decide. The land together wsth the buildiiigs thereon shall be hekl upon trust for the use of Ihe Object of the Charity, provided that if and in so far as the said land and buildings are nol required for use for the Object of the Charity the Trustees may let and otheNise manage the same. There are few restrictions imposed by the Goveming Document, but the Trustees shall not, without the sanction of the Commissioners or a competent court, create a tenancy wholly or partly in consideration of a fine or for temi ending more than 22 years after it 15 granted or for les5 than the best Possible rent obtainable. In addition. the Trustees shall not apply income of the Charity directly in relief of rates, taxes or other public funds, but may apply income supplemenkn"n9 relief or assistance proiided out of public funds. Recruitment and Appointment of New Trustees The Charity is run by a to(ty of Trustees which, when complete, consists of a minimum of trNelve and a maximum of fourteen comFetent persons as follows" Ten Trustees are elected by the inhabitants ofthe Town Tithing of Hungerford and Tithing of Sanden Fee usually on a triennial basis. Two Ex-OFficio Trustees, being the Constable of the Town and Manor of Hungerford and the Constable Elect. The Constsble is appointed annually at Hocklide and is automatically the Chair of all committees. In addition, the Trustees are pemitted to Co-opt up to additional Trustees. Induction and Training of Nèw Trustoas When trustees are elected they are introduced lo the activities of the Charity by being provided wrth copies of the Charity Commission Scheme, recent accounts and relevant documentation. as well as being briefed on the dutses of a trustee. It is remmended that Tfustees are members of at ast one committee. Organisational Structure The Charity is run by a series of Committees. namely.. The Board of Truslees which meets monthly. The Buildings and Marketing Committee which meets every other nnth. The Fishing Committee which meets every other month. The Land Management and Commons Committee which meets every other month. The Finance Committee which meets monthly. Each Committee reports to the Board of Trustees as a whole on a monthty basis. Page 7
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C4) 88T(UTC +11 D 111 P 10f32 TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 STRUCTURE. GOVERNANCE AND MANAGEMENT (continued) The Charity Trustees who seryed during the financial year (and since then to the date of signing of these accounts} are as follows. During the year, the triennial public election of Trustees was held and resulted in changes as documented below" Mrs E Dickins (resigned 20 October 2020) Mr B Mayhew Mr T Bossom Mr J Dickins (crOPted 18 FebNary 20201 Mrs B Barr Mr J Welfare Mr G Furr Iconstable appointed 24 September 20201 Mr C Scorey Mrs F Hobson Mr N Lumley Iconstable until resigned 24 September 2020} Mr R Hall Mr P Porter Mr J Dennis {appointed 20 October 2020} The Chief Executive to the Trustees is Mrs Ellie Dickins, her address and the registered office of the Charity being The Town Hall, High Street. Hungerford, Berkshire, RG17 ONF. Risk Managomonl The Trustees have assessed the major risks to which the charity is exposed, in partrcular those related to the operations and finances of the charity. and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. FUTURE PLANS The Trustees have embarked on a programme to rnodemise the operation of the Charity and have made goc progress in this area through the CEO and the work undertaken in the year. The process of modemisation wll continue as the Charity continues lo improve its working processes. Un(tys Meadow wTrll a project for several years ta come. The feasibilty study will be undertaken in 2021, and subject to the success of awarding of grants, the Tnjslees would like to see this project taken lo fulfilment, along with other river and catchment works lo improve the quality of the chalk stream rivers Shalbourne. Dun and Kennet to ensure greater ecological improvement and restoring riverine habitat. Page 8
TransadiDn Ref. SWB&MXVP4YED 29 Sep 2021 16..34..00 88T {UTC +11 D 111 P 11r32 TOWN AND MANOR OF HUNGERFORD TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2020 ststement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. report and the financial stslements in accordance wth applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted AcuntIng Practi¢e}. The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements. the Trustees are required lo= select suitable accounting policres and then apply them consistently,. observe the methods and principle5 of the Charitie5 SORP {FRS 1021., make judgments and accounting eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the finanaal statements on the going concem basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitys transactions and disclose wth reasonable accuracy at any time the financial position of the Charity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the prevenb.on and detection of fraud and other irregularities. Approved by ordei of the member5 of the board of Tru5tee5 and signe(l on their behalf by." G Furr Trustee, Constable Dale: 29 September 2021 Page 9
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C4) 88T(UTC +11 D 111 P 12r32 TOWN AND MANOR OF HUNGERFORD INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Independent examiner's report to the Trustees of Town and Manor of Hungerford {Ihe Charity.) report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2020. Responsibilities and basis of report As the Trustees of the Charrty you are responsible for the preparation of the accounts in accordance with the requirements of the charikn.es Act 2011 I'the 2011 Ad). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515)Ib) of the 2011 Act. Independent examin8rfs statement Since the Charitrfs gross income exceeded £250,(K)O your examiner must be a member of a lisled in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. Your attention is drawn to the fact that the Charty has prepared the accounts in accordance with Accounb"ng and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Repijblic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charf(ies= Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting recorts were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or the accounts do not acCd wFth those records; or the account5 do not comply with the applicable requirements conmIng the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than any requirement that the accounts give a Irue and fair, wew which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wth the examination to wl)ich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 10
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..01 88T(UTC +11 D 111 P 13r32 TOWN AND MANOR OF HUNGERFORD INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 This repNt is made solely to the Charitys Trustees, as a body, in accordance with Part 4 of the Charities {Accounts and Reportsl Regulations 2008. My work has been undertaken so that I might state to the Charitys Trustees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility lo anyone other than the Charty and the Charitys Trustees as a body, for my'work or for this report. Signed: Dated: 30 September 2021 Michael Farwell MA FCA DChA James Cowper Kreston Chartered Accountants 2 Communications Road Greenham Business Pa Greenham Newbury Berkshire RG1g 6AB Page 11
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..01 88T(UTC +11 D 111 P 14n2 TOWN AND MANOR OF HUNGERFORD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 Unrestricted funds 2020 Total funds 2020 Total funds 2019 Note Income from: Charitable activities Investments 303.660 13,474 303,660 13,474 315,471 16,116 1,393 Other income Total income Expenditure on: Raising funds.. Investment management fees Charitable activities 357.778 357,778 332,980 8,560 288.958 8,560 288,958 3,475 348.671 Total expenditure 297.518 297,518 352, 146 N81 incomellexpenditurol bofora nat gains on investments 60,260 60,260 {19. 166) Net gains on investrnents 959 959 36.oot Net movement in funds 61.219 61,219 16,835 Reconciliation of funds: Total funds brought forward Net movement in funds 1,032,424 61,219 1,032,424 61,219 1,015,589 t6,835 Total funds carried forward 1,093.643 1.093,643 1,032,424 The Statement of financial activities includes all gains and10sses recognised in the year. The notes on pages 15 to 30 fomi part of these financial statements. Page 12
TransadiDn Ref. SWB&MXVP4YED 29 Sep 2021 16..34..0188T {UTC +11 D 111 P 1sts2 TOWN AND MANOR OF HUNGERFORD BALANCE SHEET AS AT 31 DECEMBER 2020 2020 2019 Note Fixed assets Tangible assets Heritage assets Investments 12 264.541 406.154 461,358 268,681 252,693 457,016 13 14 1,132,053 978,390 Curront assets Debtors 15 66,688 78,970 33,189 77,318 Cash at bank and in hand 145.658 ItO,507 Creditors.. amounts falling due within one year 16 1179,7911 (46,797) Net cuent liabilities l assets 134.133) 63,710 Total assets less current liabilities 1,097,920 1,042,fOO Creditors. amounts falling due after more than one year 17 14.277) (9,676) Total net assets 1,093,643 1,032,424 Charity funds Unrestricted funds 18 1,093.643 1.032,424 Total funds 1,093.643 1,032,424 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. iWV118*?D2l It548T+1I G Furr Trustee, Conslable Dale= 29 September 2021 The notes on pages 15 to 30 fomi part of these financial statements. Page 13
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..02 88T(UTC +11 D 111 P 16n2 TOWN AND MANOR OF HUNGERFORD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 2020 2019 Note Cash flows from operaiing aciiviiies Nel cash used in operating activities 21 102,594 16,585 Cash flows from inv•sting activiti•s Dividends and interest from investments Proceeds from the sale of tangible fixed assets Purchase of heritage assets Purchase of tangible fixed a5setS Cash withdrawn from investments 114 98 8,250 (153.461) {18,066J 40.000 Not cash {used inllprovided by investing activitias (145.097} 22.032 Cash flows from financing activities Cash inflows from new borrowng New finance leases Repayments offinance leases 50.000 21,994 (6.413) (5.905) Net cash provided by financing activities 44.095 15.581 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 1.592 $4,198 77.318 23.120 Cash and cash equivalents al the end of the year 22 78.910 77.318 The note5 on pages 15 to 30 fomi part of these financial 5tatemellts Page 14
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..02 88T(UTC +11 D 111 P 17132 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP {FRS 1021 Accounting and Rewrting by Charities-. Statement of RernMended Practi applicable lo charities preparing their accounts in accordallce with the Financial Reporting Staridard applicable in the UK and Republic of Ireland (FRS 1021 leffeclive 1 January 2019}. the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Report51 Regulation5 2008 only to the extent required to provide a 'true and fairf view. This departure has involved followqng the Charities SORP IFRS 1021 published on 16 Juty 2014 rather than the Accounting and Reporting by Charitses.. Statement of Recommended Practice effective from 1 April 2CNJ5 which has since been withdrawn. Town and Manor of Hungerford meets definition of a public benefit entity under FRS 102. Assets and liabilities are inf(ially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income. gains and losses are allocated to the appropriate fund. 1.3 Going concèrn The trustees have considered the impact of the global Covi&19 pandemic on the ability of the charity to continue trading for the foreseeable future. This review has included considering the impact of the pandemic to the dale of signing the financial statements. Based on this review the trustees believe that the financial statements have been prepared appropriately on the going concem basis. 1.4 Income All income is recryjnised once the Charity has enlitlement lo the income, it is prc+)able that the income will be received and the amount of income receivable can be measured reliably. Income lax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is reuniSed bn the period in which it is receivable and to the extent the g)d5 have been provided or on completion of the service. Page 15
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..02 88T(UTC +11 D 111 P 18r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting policies {continuedl 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in setuement and the amount of the obligation can be measured reliably. Expenditure is classified by adivify. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activty are allocated directly to that activity. Shared costs which contribute to more than one ath.vity and support costs which are not attribthable to a single activity are apportioned betsveen those acttvities on a basis consistent wrth the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management. Govemance costs are those incurred in connection with administration of the Charity and compliance with constitutsonal and slatutw requirements. Costs of generating funds are cost5 incurred in attracting voluntary income. and those incurred in trading activities that rase funds. Charitable activities and Governance costs are costs incurred on the Charitys operations. inctuding support costs and costs relating to the govemance of the Charity apportioned to charitable actiMties. Grants payable are charged In the year Mhen the offer Is made except In those cases where the offer is conditional. such grants bèing reeognised as èxpènditurè when thè conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as commitment, but not accrued as expendilure. 1.6 Government grants Govemment grants. including Covid-19 related grants. are credited lo the Statement of finanal activities as the related expenditure is incurred. 1.7 Tangible fixed assets and depreciation A review for impaimient of a fixed asset is carried out if events or changes in circumstances indicate that the carrwng value of any fixed asset may not be recoverable. Shortfa115 between the caThwng value of fixed assets and their recoverable amounts are recognised as impaimienls. Impairment losses are recognised in the Statement of finanaal activities. Tangible fixed assets are carried at cost, net of depreciation and any provision for impaimient. The trustees conslder that the treehold propety Is malntalned In such a state of repalr that rts residual value is al least equal to ils net book value. As a result, the corresponding depreciation would not be material and therefore 1$ not charged in the Statement of Finanaal Activities. Motor vehides are depreated at a rate of 25% using Ihe reducing balance method. Page 16
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..03 88T(UTC +11 D 111 P 19r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting policies {continuedl 1.8 Heritage assets The heritage assets represents land and buildings in Hungerford. The assets consist of Hungerford Town Hall Complex, Hungerford Portdown Common and Freeman's Marsh, Harvey's Meadow, The Fishery. The Croft. Hungerford Marsh, Picket M@3d and Eddington Mill The assets are induded in the balan sheet at C051. The assets are deemed to have an indefinrte useful life and therefore depreciation is deemed to be immaterial. Expenditure which is required to preserve or maintain the assets is recognised in the Statement of Financial Activitses when it is incurred. The management policy in respect of heritage assets is summarised in note 13. 1.9 Investments Fixed asset investments are a fom ol financial instrument and are initially recogniswj al their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at C05t less impaimient. Investment gains and losses. whether realised or unrealysed, are combined and presented as 'GainsllLossesl on investments, in the Statement of Financia Activrties. 1.10 Debtors Trade and other dèbtors arè rèrx)gnised at thè sèttlement amount after any trade discount offÉrÈd_ Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at bank and in hand Cash at bank and in hand indudes cash and short-tenn highty liquid investments Mith a short malurrty of three nnthS or less from the date of qUisItion or opening of the dewsit OT similar account. 1.12 Liabilities Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it wqll pay lo settle the debt or the amount it has reiVed as advanced payments for the goods or ServIS it musl provide. 1.13 Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic finanaal instruments. Basic financial instruments are initially reccyJnised al transaction value and subsequenlty measured at their settlement value wth the exception of bank loans which are subsequendy measured at amortised cost using Ihe effective interest method. Page 17
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..03 88T(UTC +11 D 111 P 20r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Accounting policies {continuedl 1.14 Finance leases and hire purchase Assets obtained under hire purchase contracts and finance leases are capilalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful Iwes Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the Eenefits and risks of ownership are assumed by the Charity- Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. 1.15 Pensions The Charity operates a defined contribution pension scheme and the pension d)arge represents the amounts payable by the Charity to the fund in respect of the year. 1.16 Critical accounting estirnate5 and area5 of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the rcumstances. The Chamty makes esllmates and assumptlons cOnmIng the luture. The resulllng ac(r)unllng ÈstimatÈs and assumptions will. by dèfinilion. sèldom èqual the rèlatÈd actual rÈsults. There are no accounting judgements deemed critical to the accounts. Income from charitable activities Unrestricted funds 2020 Total funds 2020 Total funds 2019 Rents received WaeaveS and licences DEFRA income Hocktide income 35,032 48,295 46,953 97 35.032 48.295 46.953 97 14.576 158.707 70.659 50.048 37,552 5,323 8,565 143,324 Other income 14,576 158,707 Rod fees and grazing Total 2020 303,660 303.660 315.47t Total 2019 315,471 315.471 Page 18
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..04 88T(UTC +11 D 111 P 21r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Other incorne Unrestricted funds 2020 Total funds 2020 Total funds 2019 Other income Covid-19 grants Profit on disposal of fixed assets 579 31.815 8.250 579 31,815 8,250 1.393 40,644 40,644 1,393 Total 2019 1,393 1,393 Invostmonl incomo Unrestricied funds 2020 Total funds 2020 Total runds 2019 Dividends 13,360 114 13.360 114 16.017 99 Deposit account interest 13,474 13,474 16,116 Total 2019 16,If6 16,116 Analysis of donations Donations to organisations 2020 Total funds 2020 Total funds 2019 Donations to Ial organisations 5,090 5.090 7 1,475 Total 2019 11,475 11,475 Page 19
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..04 88T(UTC +11 D 111 P 22r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Donations to local organisations 2020 Chamber of Commerce Hungerford Theatre Company Hungerford Town Band Newbury Weekly News Hungerford Hub Hungerford and Cambum Education Foundation Hungerford Royal Legion Branch Hungerford Town Council Hungerford Xmas Trees West Berkshire Homeless Charity Hungerford Hares Hungerford Resource Centre 200 600 1.000 500 200 120 825 630 500 25 Total 5,090 Direct costs 2019 2019 Repairs and maintenance costs Hocktide expenses other direct expenses Fish re-stocking costs Wages and salaries National insurance 37.298 246 1.931 10,302 33,844 3.465 1.382 44.605 7,534 10,508 33,853 3,481 1.386 Pension cost 88.468 108.411 Page 20
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..04 88T(UTC +11 D 111 P 2V32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Support costs 2020 2019 Utilities and insurance 17,390 16.121 4.321 21.487 11,260 23,761 24.551 5.953 20,418 11,760 4,001 t8, 791 23, 700 1.506 4,067 83, 735 4,585 1,957 Repairs and maintenaneè Clerk's office expenses Legal and professional Accountancy and tax Governance costs Stationery and sundry Town Hall refvrbishment Depreciation Bad debts Wages and salaries National insurance 14.816 4.140 8.291 86.040 3.837 2,053 Pension cost 195,400 228, 785 Analysis of expenditure on charitable activitie5 Summary by fund type Unre$tTiCted funds 2020 Total funds 2020 Total funds 2019 Direct and support costs Donations to Iwal organisations 283,868 5,090 283.868 5.090 337, 196 11,475 288,958 288,958 348,671 Total 2019 348,671 348,671 Page 21
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C6 88T(UTC +11 D 111 P 24ts2 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Analysis of expenditure on charitable activities (continued) Summary by expenditure type Total funds 2020 Total funds 2019 Staff costs Depreciation Other costs 2020 2020 2020 Direct and support costs Donations to local organisations 130.621 4.140 149.107 283.868 337, 196 5.090 5.090 11,475 130,621 4,140 154,197 288.958 348.671 Total 2019 128,997 1,506 218,168 348,671 Staff costs 2020 2079 Wages and salaries Soaal security costs Contribution to defined contribution pension schemes 119,884 7.302 3.435 117,588 8,066 3.343 130.621 128,997 The average number of persons employed by the Charity during the year wa5 a5 follows.. 2020 2019 Fisherylland management Office Propety No employee received remunerakn.on amounting to more than £60,000 in either year. 10. Independent examinerfs remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £4.560 12019 - £4.4301. Page 22
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C6 88T(UTC +11 D 111 P 2Y32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 11. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2019 - £NIL). During the year ended 31 December 2020, expenses totalling £7,057 were reimbursed or pard directly to 8 Trustees (2019- £2,270 to 8 Trustees). 12. Tangible fixed assets Fr&8hold property Moior vehicles Total Cost or valuation At 1 January 2020 252,121 18.066 270,187 At 31 December 2020 252,121 18.066 270,187 Depreciation At 1 January 2020 Charge for the year 1.506 a.l40 1,506 4.140 At 31 December 2020 Net book value At 31 December 2020 252,121 12,420 264,541 At 31 December 2019 252,121 16,560 268,681 The freehold property consists of: 2020 Charnham Street Meadows 15,745 John O'Gaunt Inn Walerkeeperfs House Undls Meadow Canal Walk 96.905 131,471 8,000 252,121 Page 23
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C6 88T(UTC +11 D 111 P 26n2 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 13. Charity heritage assets Assets recognised at cost Heritage assets 2020 Total 2020 Carrying value at 1 January 2020 Additions 252.693 153.461 252,693 153.461 Carrying value at 31 December 2019 406,154 406.154 The Heritage asset5 represent land and building5 in Hungerford. The assets are included in the balance sheet at cost. Subject to approval ol the Trustees and Charty Commission, the charity may dispose of these items. The assets are accessible to the residents of Hungerford to use. Summary analysis of horitago assot transaotions 2020 2019 2018 2017 2016 Purchases 153.461 32,064 The heritage assets consist of: 2020 Hungerford Town Hall Portdown Common & Freeman's Marsh HarVeS Meadow The Fishery The Croft Hungerford Marsh Picket Mead Eddington Mill 220.629 32.064 153.461 406,154 Page 24
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C6 88T(UTC +11 D 111 P 27132 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 14. Fixed asset investments Listod Other Socuriti8s investm8nls Total Cost or valuation At 1 January 2020 Additions Disposals Net gainslllosse51 on investments Income reinvested 408.380 22.011 {10,1711 959 48.636 122.0111 8.754 457.016 (1,4171 959 13.360 (8,5601 13,360 {8.5601 Investment managerfs fees At 31 December 2020 421,179 40.179 461.358 Net book value At 31 December 2020 421.179 40.179 461.358 At 31 December 2019 408,380 48,636 457,016 Investsn8nts at valuation compriso: 2020 2019 Listed investment5 421.179 40.179 408,380 48.636 Cash Total market value 461.358 457,016 Al the fixed asset investments are held in the UK. 15. Debtors 2020 2019 Rod fee debtors other debtors Prepayments and accrued income 52.961 13.489 238 2,945 29,013 1,231 66.688 33,189 Page 25
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..C6 88T(UTC +11 D 111 P 28r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 16. Creditors: Amounts falling due within one year 2020 2019 Bank loan 50,000 12,335 33.954 5.652 6.811 71.039 Trade creditors Other taxation and social security Obligations under finance lease and hire purchase contracts other creditors AccNals and deferred income 5,627 8.032 5.905 27,233 179,791 46,797 17. Creditors: Amounts falling due after more than ono year 2020 2019 Obligats'ons under finance lease and hire purchase contracts 4.277 9,676 Page 26
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..07 88T(UTC +11 D 111 P 2¥32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 18. Statement of funds Statement of funds - current year Balance at 31 Balance at 1 January 2020 Gainsl (Losses) December 2020 Income Expenditure Unrestrictad funds Gerberal funds 1.032.424 357,778 (297,518) 959 1.093.643 ststement of funds - prior year Balance at 31 December 2019 Balance at l January 2019 Gains/ (Losses) Income Expenditure Unrestricted funds General fvnds 1.015.589 332.980 (352,146) 36,001 1,032.424 19. Summary offunds Summary of funds - current year Balanea at 31 Gainsl December (Losses) 2020 Balance at 1 January 2020 Income Expenditure General funds 1.032.424 357.TT8 (297.518) 959 1.093.643 Summary of funds - prior year Balance at 31 December 2019 Balan at 1 January 2019 Gains/ (Losses) Income Expenditure General funds 1,015,589 332.980 (352, 146) 36,001 1,032,424 Page 27
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..07 88T(UTC +11 D 111 P W32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 Analysis of net assets between funds Analysis of net assets between funds- current period Unrestricted funds 2020 Total funds 2020 Tangible fixed assets Fixed asset investments Heritage as5e15 Current assets Creditors due thin one year Creditors due in more than one year 264,$41 461,358 406.154 145,658 (179.7911 {4,2771 264,541 461,358 406.154 145.658 1179.7911 (4,2771 Total 1,093,643 1,093,643 Analysis of net assets between funds- prior period Unr•strictgd funds 2019 Total funds 2019 Tangible fixed assets Fixed asset investments 268,681 457,016 252,693 110,507 146,7971 {9,6761 268.681 457.016 252,693 110,507 {46, 797) (9.676J Heritage assets CuThent assets Creditors due wtthin one year Creditor5 due in more than one year Total 1,032,424 1,032.424 Page 28
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..07 88T(UTC +11 D 111 P 31r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 21. Reconciliation of net movernent in funds to net cash flow frorn operating activities 2020 2019 Net income for the period las per Statement ol Finanual Activities) 61.219 16.835 Adjustments for: Depreciation charges Profiulloss) on disposal of fixed assets Gainsl{lossesl investments Dividends and interest from investsnents 4.140 (8,250) 1959) 113.474} 8,560 1,417 133,499) 83.440 1,506 (36.001) (16, 116) 4,156 Investment management fees Realised loss on sale of investments Decreasel{increasel in debtors {Decreaseyincrease in creditors 39,279 6,926 Net cash providad by oparating aciiviiies 102.594 16,585 Analysis of cash and cash equivalants 2020 2019 Cash in hand 78.910 77.318 Total cash and cash equivalents 78.910 77,318 23. Analysis of changes in net debt At31 December 2020 January 2020 Cash flows Cash at bank and in hand 77.318 1.652 150.000) 5.652 78.970 150,0001 (9,9291 Debt due wthin 1 year Finance leases (15.581) 61,737 142,696) 19,041 24. Pension commitments During the year contributions of £3.43512019.' £3,343) were paid to a defined c(*)tribution scheme. As at the year end £nil12019.. £nill was unpaid. Page 29
Trarr&Brin Ref. SWB>MXVP4YEO 29 Sep 2021 1e..94..CQ 88T(UTC +11 D 111 P 32r32 TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 25. Related party transactions During the year, there were no food purchases made 12019.. £2491 from the Tutti Pole Teashoppe, company in which trustee Mrs B Barr is an owner and Mrs F Hobson is manager. No amounts were unpaid as at the year end12019= £nill- Page 30