Charity number.. 238379 TOWN AND MANOR OF HUNGERFORD UNAUDITED TRUSTEES. REPORT AND FINANCIAL 8TATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2021
TOWN AND MANOR OF HUNGERFORD coKrENTS Page Referen and administratlva details of the Charrty, ito Trustees and advls8rs Trustee8' report 4-11 Independent examlnerfs rep 12-13 Stalem8nt of flnancial aclivltieg 14 Statement of flnandai P0Son 15 Statement of cash 16 Not88 to the flnanclal statements 17-33 Pa8e 2
TOM AND MANOR OF HUNGERFORD REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARITY, rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021 Tfu•to•• P Joseph (Con5t8ble and Chaitrnan) B Mayhew T BOSS IResJned 7 Jun8 20211 J DkITr8 B Barr J Welfar• G Furr F Hobson R Hall IRe8lgn•d 15 October 2021) P Porter J D8nnl8 Charfty r•gl•t•r•d Numb•r 238379 Prlnclp•l offle• Town Hall Streel Hungoryord Berkshiro RG17 LWF Chl•f •x•cutlv• offlc•r E Dkkln• Ae¢ount•nts Panth•ra Accounllng 62 Foxttall Road Dkknt Oxlord8hlr• OX117AD Bank•rn National We8tmlrtor Bank PLC 30 Market PFace Bork8hlre RG14 SAG Sollcltor• Royd8 Withy KlrvJ 34 Regent Clr¢ Swtndon Wittshlr8 SN11PY InvMbTr•nt mn4g•r• Smtth & William•on Investment managnt LLP 25 Moorgat8 London EC2R 6AY L•nd ag•ntleh•rt•*•d Surv•y4v Carttr LLP 10 Jewry Street Winchester Hampshire S023 8RZ Pa8e 3
TOWN AND IAANOR OF HUNGERFORD TRUSTEES. REPORT FOR THE YEAR ENOEO 31 DECEMBER 2021 The Trustees present thelr annual rep togethw with tho ftnanwl 8tstem8nts of the Charity for Ihe 1 January 2021 to 31 December 2021. The Tru8tses ¢onfinn that the annual reFrf)rt and financlal statèment8 compty wlth the Ch8rittes Act 2011, thé roqsJirgm•nts of fhe go¥8fflinq d(umonTg ond Aeéounting and RepOr¥a by Chathies.. Statement of Recommndad Pr8ctle8 {SORP} applicablo lo charlues preparlng thelr 8CCOLtnts in accordanc& wlth Ihe Fin8nc¥al Reporting StarKlard appllcable In the UK and RePU1C of Ir8larKI {FRS 1021 leff8Ctivè 1 January 2019). OBJECTIVES AND ACTMnE8 FOR PUBUC BENEFTT Th• charitabl6 Purp of th8 Town & Manc 1$ lo manage b a889tJ, n¢x and In tho future, for Ihe bengfft of the Inhablt8ntB ol Hungorford. To achi6ve th18. IW.. l. Pr•••ry• and protts¢t tho •rKknt Ilghts oflhe Commoners 2, Manago the land and bulldlros In a ftnandally aTrJ envKonm•ntally gUStalnable way 3. Provlde fln8nclal supwrt to groups. (ausa$ and projects. wlthin the area of benom 4. Uphdd the uniqu• tradltlons ofthe and Manor of HUnrt and Llb8rty of S8nd8n F8• The Charfty malitslns assets, land bulhjlngs. Th080 1ndLO Hwttage A86ets whlch undor tho charty aecounllng nJ88 (the SORP) are defined as: A herllage 8s88t 18 a tanolble ¢y Int8nglbl8 awt With hlottylcol, art1811q 8clgntlfic. technolcgkal, goophyslGal or onvlronmental qu81it106 that18 held and mdntaln•d prIc4P&HY for It• contriL)utk)n to kno0gO and eulture. An a$Bet may have tho attrlbjles of a hwtt*a• a85eL for •xamk48 tt may be of hlstorlG or artlstlc Importancè. but unlo88 tt18 a180 hobj ond malntaingd lor ¢ontrlbutJon to knowbdge and cultur8 thèn tt w411 not fall wlthln th• dofinltknn of a heritage as8 Undor Ihl8 dofirmtion th• questkin of whetr18r Ihe as86ts can be >Jld or mu81 b8 kept Trthe that arn Integr81 to th• thartty8 wrpose (xiuld b? 8dd In exc4pdonal ¢kCuM6tan. The ass$ are as Hunq•rford Town Hall Compl•x The rrent lIdIng was bullt In 1871 ty Town & Manor and f8 av8ifabl0 to tho publ1¢ for ¢))mmunlty and publ1¢ usè. key part ol the Tchvn & MoTr)rfs herwe. and a bulldlng that ha8 to bo retainéd, unl988 8xcepiion81 cirGumstanGes requlT8. Th• consont of tho Charity Comm1s51on ¥¥oukl have to be )ought for any slgnrflcant change. The building has local hl8tortcal and oJ1tr4ral value. John O'Gaunt Inn Thought to 13th Centyry odglns, 8rxl It has been In ownershlp of t Town & Manor 8inc6 1617. We ujrrenlly rent Inn out on a LXrn8rdal basls. Thorg 1$ publlc a?5$. However. It Is not of as great hlstorfcal or cultural v8lua a8 the Trnvn HaN. Thb a886t (jId bo sold K roqulred. Portdovm Common & Fr••man'• IAar•h Parts of both 8re r¢gt8ter8d 88 'Sltas of Sped81 sentifiC Intwesv (SS81•) and a8 $uth are managad under a Defra Stewardship Sthemo. Thoy are also managed 8J Pl11¢ open Space. POrtdTh Common 8190 cKJntain8 'lynchgttas', Ythith are histcykal and protect&J romalns from medievat famiing practl¢e8. Both Portdchvn Common and Freeman's M8rgh havé ttsn owned by the Town & Manor slKe at lea81 1552 leadi8sI r6fer8ncé). We ¢OLHd not sell trte8e assets and must maintain them a8 part of th8 higtoric and Commoners. rights asscthtsd with them (unless the land and nghts ar6 raCed). Wa hold publ 9dUGatkal vEslts 8rnuty. for whh w• roeaiv• SPOfiC frjnding for frEn Oefra. Page 4
TOWN AND MANOR OF HUNGERFORD TRU8TEE8' REPORT (CONnNUED FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTIVE8 AND ACTivrriES FOR PUBUC BENEFIT le•ntlnu•d) Harv•• Mgodow a Eddlngton Mar•h Humphrey Falrfax.Harvey was Conslable of Iha Town & Marnr frL¥n 1950-56. In the 197trs ha bequeathed the Meadow to the Town & Mar. Th 8ite Is designated as a SSSI and Spocid Area of Con8ervation l?AC). h4 Such It is managed and rnalntain8d for sci6ntific value. This kn¢lud&s acc9s8 for res8arch and manag•d ac¢988 for th8 publk {provhJod In organlsed tslk811oursl. Th8 slte Is mdntained for rts wldlrfo valuo (In partlcu18r the Desmoulln's WIN)rt Snail) and is aso acco68ad by bird rlnglng profe58bnals. This ass81 bg sokl rf required. Watsrk••p•f¥ Hou Tbls house was bullt by Ti>wn & Manor In 1973 and was lalor extended in 2003. A workstK)p wa8 then added In 2007. Thi$ hgu•a Is u8ed to a(rmclI0 a Thmbw o18t8ff and doe8 not IK4d any hlBtorlc or cultur81 vdue. 4nd th¥rofor• cOd be Ir rnquwed. Th• Fl•h•ry The Fishery ha8 been ¢)wned by Town & Manor s11 thfr 14th contwy. Yr rfvern ar• chdk Stream8, and deemed to bè hlghty prol6ct8d hgbttst8. and ara rogislerod ao a SSSI for their scient value. Public 8¢C688 58 provK4ed through orjanlsed tslk8 and walk6. Th9 fl8hlng rights are an 86senl81 part of the cultural hgritsge of Hungerford, The areas 01 the fishery that have o)mmonerf$ ghts cannol be sold, Ir nkxe rn1 acouisltKTh of land wlth fi•hlng ¢ould potenbally be sold If rèqulr8d. Th• Fl•h•ry Hut• The8e aro 8h¢d8 that ar• In on tho fer uJ• by th• IF41on. Tlw do not hold any snenI h18torlc vdu6. Th• Croft The Croft was ghl•d to the Trmn & Monor In drra 1550. Ft18 IhoLoht to bo the orlglnal vlllago green lor Hungorford. tt 18 frr wbllc •cco88 avamable for hlr¢. This 08881 fUAkJ not be sold. Chamh•m Str••l MMdow• Thesa Y)re acquif•d In the 19300 orlnalty ONI rrrfxe rec an 8ddthtywI 2.4 h•ctgro8 wèr0 a4ulr•d eB part ofth8 dovdopment ol Chamham Path. In 20 a ftjrthar 8trip ofland wa• purtha80d for £15,745 gnd does not have any herlts90 v8lue. Pubfi¢ a88 1$ not permlttéd. Hung•rford M•r•h Hungarford Marsh was a¢qutred by the TN8tee$ In 2017. The ctharfty aU1r8d the land 8s a rngl8tèred SSSI and sutsect to a Iyear Hwher Stewardship Agreement wrth Nattjral Ewland to b8 rduded 2022. Th• ffi$hlng Is let on a etMrCial basis. PIGk•t Mead Pick81 M8ad18 Sn hi8toric rxchard wulrod in 2017. Th018TrJ 1$ Th)t open trj publlc access. howev8r thg orchard ha¥ bo•n re8t¢Yed arxl fis now usgd for th8 FycrfJuctic of apple jut(% and chJ8r. Thi$ assat coukl be sdd if rgquked. UW$ M•adty UndV8 Meadow was purchased tn 2018 for the sum of £131.471. Thls land adjoin8 Chamham Street Moadows 18 16.19 hethr in size and sIsts oflovAylro w8tor maadow wrthln tha AON8. It tnelude$ 8dQtlKJnal flshing the Rivar KenneL The wr(ase [Kotts axi9ting land holdiThJ8 and ha¥ potentlal for o larger projort A f8aslbilty sludy is b¢ing undortakon to c¥)n8bJer the knger tern1 U88s of the land. Page 5
TOWN AIID IAANOR OF HUNGERFORD TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 OBJECTIVES AND ACTMTIES FOR PUBLIC BENEFIT {Mnllnu•d) Canal Walk The Charlty wuired the 1 fyJhts bekxv th8 of Canal Walk in 2019 and land adJc4nry tha exlsling garages for the sum of £8,0. This provJ08 the Town and PlaThx wlth add0ftaI vehicular acc lo Hunggrford Mr8h. HOW ThE CHARrr( U8E8 ITS ASSETS To have fvnds to m8intsin the Charfty$ assèts and to further at418 of Ihe Chaty. the Trustees $8uJm Inrxjme from rts assets 88 fol0.. Portdown Common and Freeman's PA0 aro 8vallatrAe to b8 grazed by Commoners, c•ttl8, but where Commoners do not tske up thelf rylts th• grazin918 let to loc41 farmors and the SylKlkat8 known BS Hungarford Grnziers. The Town Hall Complex Is avaSlable lo many orgonlsaUon$ for funetion$, IndlIng communlty aTrJ bu8ln8&4 meetings. w8ddknJs. axhits'l¢M, ocial fUon$ and rota4 We offer a dl8¢ourrtsd r8t8 to bcal re8Kl8nts. and other locA thaiitsble oryan18ati. Tho Water Kgaporf8 Hou88 lo mal1n8 ts the u88 of the Watw K8eDer. The Fljhery 18 let out to 8 numb6r of md8 pay an annual Ilegrth f•0. Tha Fl8hery also accommodat88 thè fvJhts ofth8 C(Mnmonw8 trj fl8h thr99 day8 por kntek. Hungerford Marsh Is let Thjt to gr8zlng arKI 9180 deffrn8 Ir£40 from •nnud rod IlrwK4 f ChvAnham Meadows CAn bg let (Mrt frjr but18nl (wronuy. 11 Is the rxjlicy ol Tru8te•8 that, pDa811 . tho •houhJ generate •urFlu8 Income to a8Èi81 In th• runnirrfd of the Charlty and to 6nablg r( tQ 8UPm loca organlsatlons. How8ver, from tim8 to tlme defflcits may arlse due to exceplonal endItUre suth as capllal proJo¢ts or repalr8 that cannot be spread over 8ever8i years. ACHIEVEMENTS AND PERFORMANCE Grant Maklhg Poll¢y Tho Tru8t88J pr¢01• ¢hark8Ne purpos88 for bthfit of tho knh8bllants of Hung•rford, by the grant6ng of donallon8 It Is consklwed approprtato. Tho totsl amount of donath)n$ m8do In 2021 were £11,1¢JO detsiled In note 5 to tho accojnts. Th•80 grants to local groups sn all a9e ranges, as In pr8vlou3 wrs, and at kn¥ ve[4 In comparison to prevlou8 Yea 86 Covid wa8 slill lrnpacong Ic1 groups meelwu and hofdlng events. Inv•tm•nt PollGy The Invesknents are manw on a dlstr•tiMary basis by Smith and willin, the perfomiance of which 1$ rwrawsd bIAnnLlty. Smith and Willi•moon F8 aulhorJ8od ana rogulated by th8 Financ&ql Condu¢t Authority and o membor of the knoclation of Prtvate Investmonl M#n8ger8 and 8toGktsrokeTS {APCIMS). The ro8erv8s ara in¥88t8d wlth an L*ioctsw of pdIr@ a baljnce bglween Inrne and gro. The strategy frAl¢x¥ad b m88t Ihts obA8ctfve is Thw&skn•ni In a mulfj-8s portfolio, Intended to offor th¢ potenttd for grealer retums Ihan cash and ed Interest alono by Indudlng Ilmrt8d amounts of equits8s and altematwe investrnents. Performance of [10110 l# measured against the FfsE WMA Stock Mathet C(mNative Index (Total Retwn). Pa8e 6
TOWN AND IAANOR OF HUNGERFORD TRU8TEE8' REPORT (COIfflNUED) FOR THE YEAR ENDED 31 DECEMBER 2021 ACHIEVEMENTS AND PERFORMANCE (¢ontlnu•d) Publlc Banofh Thè Trustee8 are contlnualty engagèd in endeav(Mrriw to tmnota U)? charitabb works of the Charlty wnhln HUng8rfd. In wnsid8rfng Iheir actvittes for year tho Trustaos have had r•gard to Chaty Commi85lon guldan¢o on public bon9fiL PortdIn Comnbm and Fr99man's Marsh are freety availabl8 to the public for rèctsaUon81 us•. Local Inhaltants and oryanlsatths wlve d18Unts on hlring fts8 for the Town Hall. The Tru$te8s lease land to both the local fwlball and cricat dubs, 08 well as to other local assets such as the skats park and war mémrial site. Con8t•bl•'• 3tat•m•nt forth• Y•ar The year èndod D•comb•r 31st. 2021. ba a busy and chaNenglng oné wllh tho ongolng Covld-19 pandeml¢, and th8 Imp8cI of global pres¥ur8s on tho gCony. The Tv•vn and Manor has rornalned true to cOmmknnts to suppcrt the communrty and envlronmant of Hunggrford. We COnnvO Iwjs on malnlalning larKI and updalliKI ¢yJr bulhjkngs for th8 ben8fft of Ihg r8sktenls of thè town. Slmllarty, the markets that vnre mardhalled èffeGtfvely durlng thè hebhl of Covkl have b¢nefitted from gome of the nCernS over indcmx SIppIng. a r08utt. wè have 8gen ttjnllnued 8u¢ce88, aiid thè numbor of 6tall8 h88 orown maknng It on attractlon for T¢y•m and communlty. Th18 Is a great we8kly markol, and l Ém d8119hted wtth Ihe 8UPPOrt tt has rec•lved over thè L48t y•ar from $tallhold8rn and v1611orp allke. Unfortunaloly, we fw sean a d•dine kn kom• for the hlr• of Ihe T(wn Hal ov•r tho last r, 8om• of whleh 1$ du• to thg pandemfG but al duo to some major flofyjlng which 16 in the proc•$$ of belng repaired and11 has glven us thg opportunty to upgrade Ihe dec)raOn throughout the building and we oxpecl to a rolum to pre01 hlrlng levo18. along with the potenual to promote the fadlitiefj for more hlgh valuo gvonts sh as wtrjdlnp. Our In(x)me from Fl$hlng was gtsjd durfng 2021 and wern able to make a small Incm88 to tho number of pgying for Iho year. had a g)od numter of book guost tlck•ts, and w8 h9Vè managed to maSntsln a h8atthy w8Rlng 11gt for th• fur•. Th18 yoar we wero InvrAved wlth 8 proJOQt named Sparkllng Strgamg. Thig 19 a profftd fund by DEFRA arKI The Naknl Lottery Hedtsge Fund. gnd wo Are worknng in partrw8hlp wltrt th• North Wg86ox DtrNns AONB. Ackn for the Rlvw Konnat IARKI and the 8outh•m Streams Fannors Catchmgnl Group. Our elèmgnl of the prolect 1$ lo optlmi#e flows and Improve habttat 81ong trle Rir K0nno1 UFtroam of Eddiryton Mlll and rfrnnect th• K8rml wrth the watenne8d(yw known as Undqs meadow by re(%8¢n9 the Nstorfc channei ben tho hvo 8itsJ. Not only WYI thls Improve rlverfn8 h8t41at but dgo rUC•11¢K>jln9 downstream. By Groattng bomiJ arKJ me8nder8 on the maln d)annel, Vlith reprofiling th8 reeenty purcha8od Fak8, thls has 8lgnlficanVy Improv•d the qu811ty of tIM s1 bockwater haat, leh thg 84 had pr8vkw8ty dasjthj as poor. Thi• prol9Ct rnn alongsidè luThthr#J from tho U to uoate fih pa$8498 vla tha rtrconnactfjd hlstsrfc thannol, followlw th• collapse of the welr strucbxg at Eddlw Mlll In 2016. ThIB proloct was Ily Supported by the Envlronm8nt (EA) arKI Naturd England who have endors•d tho work8, and thgoe organ188tioro are k•y stak8trKthr8 In our envlronmenlal and (xjnseryatlon work Th8 slta known as UndY8 meadow, whk was purchased in 2018,19 belng considered as a Fthnl wevand proiert and it Is 8nticapaW ihat this wll indude an education centre to te used fc scho$ a th8 local communty. We have ulertaken a scxjping strjdy aThJ plan to Cornte a feasibility study and d¢tailed deslgn 88 part olthe Sparklir¥J Streams Page 7
TOWN AND MAPK)R OF HUNGERFORD TRUSTEES, REPORT {COPfflNVED) FOR THE YEAR ENDED 31 DECEMBER 2021 ACHIEVEMEpifs AND PERFORMANCE (contlnuod) Constabh'$ Stat•m•nt for the Year IGonllnued) The Town and MarKJr charity has made a slgnMl¢ant nunknr of (%)nallong to10¢g1 group8 and charttles, InclLtding sports dubs. arts and theatre grwp8, and educational support charrbes. The TO and Manor has also donated to the local Youlh Club. Hungerford Town Band as well 88 supp)rting th6 Town Counc wlth th8 Christmas Ikdhts, and the kx41 Chanknr of Commwee wilh thalr amu Chriskna¥ Extr8vaganza. FaThers We once agaln Invrtsd to graze thèir cayle on our common knnd and whHsl number8 wère lower Ih8n pr8viou$ yfyars, the ¢8tlle did wdl over th• soason, d98plle a fffiv i88UQJ Gareless drlvars. D8spile th• dry cdItIOnS we had a succe¥sful ¥ea80n. Th• Board ol Tru81•¢s we tIMiard• settlng the 8trabJy 8TrJ roadmap for tho ya8r8 ahead, I belleve 8trongty we have a gr881 t68m to iead th8 T(n and M8f#)r i)ver lh• ngxi 10 year8. All Ihis work 18 funded by inc4Jm• ral8od by the Chity through Its a1 assets, at no co8t to thè rn&d8nts of Hungerford, I'd Ilke to thank our CEO, Tw8tee8, Staff. and vdunlrn for Ihelr hard and harp over Ihe year aThJ I look forw8rd to Ihtr TThvn and Manor o)ntinulng to detiver b8neffits to Town of Hunggrford a1 the surroundlng 8r•a whl¢h ¥ils in th• of the North Wo98•x Dm AONB. FINANCIAL REVIEW R•••rv•• Pollcy The ch8rltable obJ8¢1 of Ihe charfty ts to promote aThd provld8 grants for tho Inh8bttants of Hungorford and the Liberty of Sanden Fee.118chth8 this through Ihe wdont managomeN of Its lands, bulldln93 and finances. It m8lntain$ r089ry08 th8t ar• fragly available operaUng wrFQ$88 not 8ubj6cl to ¢)ommltffl•rrt81 plann•d expendrture or 8Fndlry Ilmit& The reserves we malnlalned to COV6r pthntW futur• rlsks: SlgnMcant loss of income- lh8 ftstwy to poUutk)n or a drop In watsr l•v•l6: tho land duo to factors b&yond our control, for examkqe 8 f(t and rnrth outbreak. Changa$ In g¢MrTrmgnt pollcy rnlating to grants 8vall8bl•. sor18 and Immedth need frJr repairs to Ihg Tuwn Hall ComrAox. not e%)vernd by In8uranc•. Rl•k• Th• key rl#k¥ that th• Ch•rtty fac•• •r• m•nag•d •• follows". Property Rl•k: Th• hard ty lh• Charrty cc¥Jd thr 8lwlTrxnt damage or need malor r8palr. Calastrophrc events are Insured for, and reservos ar8 kept lo de with any ropglts needed at short noiicé. Th8 m06t signlftcanl risk is thè Town Hall fry whk fijrthor eon$idoratSon 18 made to ensure In th8 long Igmi thls buildlng iq malntalned to 8uffic10nt 8landards. Th8 bulkllngs are Insured for the nomwl eomm•r¢l#l ri¥k•. Inv•¥tment Risk: The resgrves h8liJ by the Charity are e98enUd to ka8Fty rt in a 8Ur0 PQBttlon Should any sedous inodents affoct flnanc4al FX)sityon. Investments are rjjrrenlly hold vllh an approved Fund Manager (Smith & Wllllamson) and are regularty reM¥*J. On A quartety basis, the investment relurn is rovlow, hth an annual review with th8 Investrn1 mana99r. Page 8
T0%74 AND IAANOR OF HUNGERFORD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 FINANCIAL REVIEW (¢ontlnu•d) RJsk• (contlnued} Incom• Rlsk: The Charity is heavty depoThJent UFKM income from lh6 Flshery for Its financlal stablllty. Thls income can bg affected by evonts on the RNer Kenne( such as Wlutlon or droughL Th8 TnJ$t88S work lo address thwe riskswhere they arg within their contrcA and also contribute staff and managament resour¢es lo vwlou8 8chemes to Improve the Kennet through trganisatlons such as A¢tlon for Ihe RIv8r Kennét. Natural England, Spathling Streams and the Envlronmonl Ag•nGy. The reserves are maintsined to a Sufficient level to provKkn a buffer agalnst a nifKant or sustalned h) Income from tho Figh8ry. FlnanGlal r•vlv# for th• y•ar Tho account8 8howed a nat suWus of £36.460 plus a n&t on Inv88tments of £74,550 glvlng an ovorall 8urplu8 of £111,010. V8rknu8 govemmént C¢y4J grant sch0Th8 Ilyjsingss rate8, CJRSI c8rtalnly holped to ojntrfbute to thls sUL. but Ihore was $vJThficant Investrn8nt in répalfs lo propaty 88tste. Tha Covkl-19 criqis ha8 afftfjd the wlth the closure ofthe T(p•m Hall and 8 delaygd 8tart to tho Flshery openlng. The finandal Impaca has been that eortdn oxp8rw8 hav• nol been Incurred, Sh a8 Hocktkle. resulting in an Incre88ed 8urpbJs for year. The charfty fulty •xpeet81o weath•r the w51h mJnSmal Impacts. STRUCTURe, 130VERNANC2 ANO IAANAGEAIENT ObJ•GtIv•• Thg Tru8tsa8' obJo¢tive Ss to run Chvlty wlth a 8maH $urplu8. The Govornlng Dwument ofth8 Charty is based on a Charlty Commisslon Sthemè datèd 9 May 1990, amendecl and authorised by the crity Commlsshjn cffl 30 May 2012. and aFPrOv ty the TnJst888 on 9 SepteMr 2015. Thls Sc4me r8Fdoced a Stheme of11 F•t¥uary 1908. On 20 November2018 a Jupplemental doed wa8 submfrw to and approv8d by th& Charfty Commls8lon to amen*J dau 25 Oftt Sthemè. The Arn8ndm&nt al0 for a varlatlon In Iwwth oftemis ofTrusteoB. The Objects ol the Charty ar• l••J dcmn in tho Govomlng DocThnt 48.. l. The Otyect ol tha Ch81ity 8hall b• to auch chwhable purp0888 for th8 bonafit of tho Inhabttants of the 8rea of l)onofft as the Tru8te88 ahau frThn tirro to Ilme d8clde. 2. The larKI logèth8r wth Ihe buildlngs th8reon sh•N bg h•kl upon tN8t frrf the us& ol the Objecl of th6 Charity. provhtsl that ff and in 30 far as tha said land and bulldlngs aro not requlrod for u88 for the Oty'6¢t of th? Chadty Iho Tru8tee3 may let aThl otherwlse manage the sa. Thern are lew re8trtdkJn8 imp0s0d by Ihe Govemlw DcoJmgnE. but tho Tru8to8g shall not. without iha ganthn of the Commfssloners LY a competent courL créate a ionanw wlK)lty or parily in consideration of a fine or for 8 larm 8nding more Ihan 22 8T8 after it is 9rant&d or for le&s than the best possible rent obtainabta. In addition, the Trustees shall appty incorng of the Charty direcdy in reli8f of rglos, taxes or other public lunds, but may aptty incxm SUN8tIng rolief or as$istsnGe provided out of publlc furKIs. Page 9
TOWN AND MANOR OF HUNGERFORD TRUSTEES, REPORT {coTrifttiuED) FOR THE YEAR ENDED 31 DECEMBER 2021 STRUCTURE, GOVERNANCE AND IAANAGEIIENf {condnuod) R•¢n411m•nt and Appolntrn•M ¢>f N•w TNt••8 The Charity is run by 4 ixhjy of TteS whlch, whgn constst8 ofa mlnlmum of twelve and moximum ol fourteen cx)mpetent person5 as foNows'. 1. Ten Trustees aro elected by thè inhabitants of tho Tlthlng of Hung8rford and Tlihlng of Sanden Fee usualty on a thennial basls. 2. Two Ex-offlclo Trustees, belng Constable, of the Tn and Manor of Hunggrford and the Constsble Elect. The Constable Is 8ppdnted annually at H( and Is aLrtom8tlcaUy the Chalr of all commht88S. 3, In addwon. thé Tru$ts86 arn pemihtad up to fv•YJ addltk)nal Tru8too•. Inductlon and Tr•lnln9 01 N•w Trust• Wh&n now trustees are elected thay are IntrJUc¢d lo the acllvllles of lh8 Ch8rfty by being pmlded wllh CQFle8 of th6 Charity Commtsskjn Sch8me. recorrt account8 8nd r8l•vanl docum8ntallon, 88 well as belng brfeled on the duties 01 a IN8tse. It Is r•¢ommanded that Tne63 are rnembers of at least on8 Organl••tlonal 8tructur• The Ch&rty18 njn ty a 89rl88 of c0rrffi1tt'. Th• Board of Tru81e88 kh moots monthly The Bulldlngs and Markedng Commlttee whth rrwts ovory Olr month The Fl8hlng cornm100 %thl¢h m••ts èvery othor month Th• Land Manag•monl ond Commons ComnNttg9 Ythith every oth•r rrwith The Flnance Commiuge Fneets mtNY Egch Commltteé r8port8 lo the Board of TnJstso$ a6 a vthole a monthty ba818. The Chadty Tru8te89 who during th• ftnandal year {aTrJ th•n date of nlng ofth•g0 account81 are 88 follows.. Mr B Mayhew Mr G Furr Mr C Scoroy Mrs F Hob80n Mr P Porter Mr J Wemare Mr J Dicklns Mr J Dat)nl¥ Mr P Jowh Ms J Lloyd Mr S Lè&Smilh Ma K Edward¥ MrA Fyfe Mr J Taylor Mr T Bossom Mr8 8 Barr Mr R Hall (arryIn 13 Aprll 2021) lapwnted 29 April 2022) {appolnt8d 21 20221 (apwnled 21 June 2022) (appointed 21 June 2022) {appoinlad 21 Jun• 2022) (resigned 7 June 20211 (resl9ned 29 Aprd 2022) {résigned 15 (knbor 2021) The Chief ExecLrtNe to the TnJstee8 18 Ellte I)kIn$, her 8d(tress th8 registered offic of the Charty being Th• T¥Th Ham, High Street. Hungerford. Berkshlfy. RG17 ONF. Page 10
TOWN AND MANOR OF HUNGERFORD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 STRUCTURI GOVERNANCE AND MANAGEMENT {contlnued) Rl•k Man&g•m¢nt The Truste08 have assessed thg major rlsks to whl¢h the charrty is OXFsed. In pathular those rolaled thg op•ratlorn and finance8 of thè charity. are Sat thal 8ytslems and procthJure8 ar8 in pla¢0 to mltlgale our exposure ts the major r18ks. FUTURE PLAN8 The Tru8tèe8 havè ambaed on 8 pr¢¥rnmmg to m¢JJwnl8e the op8ralk)n ofthé Chartty 8nd havo mado gocd progr988 in th18 area through the CEO and the th urthrtakan in th• year. The pro¢e68 of modemlsallon wlll ¢ontlnu8 as ts Chahty e4)ntinue8 to improvo it• worklng Voc•$. Un¢JYs Moadow 11 b8 8 prr4oCt for 9ovor81 yaar8 to eom•. Tha fea8lbAIty study was undertaken In 2021, and subject to tho eucce of awardlrnj of grants. the Tn8 would Ilke to 889 thls proloct taken lo fvlfllmanl. along wlth other rtver and ¢8tchmen rkS to Impr th8 qualty of the chalk str6am rlvers Shalboume, Dun ar Kennet lo en$ure gr•ator ac(1¢al Improvem•N and restorky rlv8rin8 habltat 8tatomenl olTru•t•••' r••pon•lbllltl•• Tha Tru818es 8re rospon8iblo lor prepartng TruJleo8' report and the flnan¢tal 8tatemonts In aeeordane? wmh applicable law 8rKI Unttod Klngdom A¢Gountlng Stsndards (unit Kngdom Genorally Acceptod Aceounung Practtcel. The law appllcablè to charlUe8 In Eng18nd & W8108 r4qulr•8 the TNgtO6• to pr•pw• finan¢lal #tatem8nl for each flnancial yvr %thlch glve a truo and falr ¢W of tho state of affalrs of Ihe Chadty and 01118 Inwmlng r•gourc•s and appllGalton of reswrc8s. IudIng h8 Inethiè and oxpondlturo. for that perk. In prepaflng tsse flnanclal stat•ments, Trusto98 aro wulrod to.. 8èf6¢18Uitat40 accnI Wld•B 8nd thon awy them coMl8tenty, ob8orve the m8thods and prndples ol the Chartties SORP {FRS 102).. rneke ludgmonts and acwunllng 8stlmales that ar• ro88on•Na and prudent 8tsts whether applicablè UK AcrxwntiThJ St8ndards IFRS 1021 have b•en follcwod. •ubJect to any m8teri81 dep8rtUrn8 di$c408ed 8nd explain¢d in fln8ndal slat8ments: prepare thg financlal 8tstfrrnts cn the golw o)ncem tsLg unlo98 InApprowhta to PruMe thal the Charlty wlll convnug In buWn•8#. The Truste88 8r8 re8pon8ibfo for k8eplng 8d•quat8 a¢wJnUry r•cords that are 3ufflclent lo shtrw and •xpSaln the Ch8rty3 transOn$ and dlsclo88 wlth reasonabb accurdW 81 Any rna th• fin8nclal posltlon 01th8 Ghartty and enab18 them to ensure thai the finaal st8tem•nts eompty wfth the Chahtles A 2011. thè Charity lActxnt9 And Rèport*l R•yulatlons 2008 and thg wovlslons ol Ihe Gh8rlty Comml8$lon Schem?. They are also respSIbl• ftK 6afoguardlng thé assels of the Ch8rtty and hèncè lor taklng roasonablo 8t8p3 for thè ontIon arKJ detecum of fraud and oth•r Irrogularttl88. Approved by t)rdér of lh6 memb8r8 ol the board of Tru#t8os and slgngd on thair behalf by: Trustae. Constable Page 11
TOWN AND MANOR OF HUNGERFORD INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Ind•p•nd•ftt •xamln•ff8 report to th• Trusto88 of Town •nd IAanor of Hungorford (Ih• Charw) I repyt to th8 ctsrrty Trustees on my exarninatk)n of the aCcnts oftho Charfty for the year ended 31 Doe8mr 2021. R••ponbIllO8 and b•41s ol r•port A8 the Trustees of thg Chartty ycwj are reswn$8 for prnparatth of the afxounts In accordance wlth the r8qulremgnt9 of the Charltl88 2011 Ilhe 2011 Acr). I report in raspect of my examinatlon of Iho Charity's accounts c8rrlgd ¢)ut undor 8ecUon 145 of the 2011 AGI and In carylng out my gxaminatkn) I have fouowod the applIcatr Dlro¢tion8 glven by the Charfty Comml881cm under 8ectlon 145151(b) 01 th6 2011 ACL Ind•p•nd•nt •xamln•f• •t•t•m•nt Slnce the GhaiiV8 gr088 Inccrfno •XC40dod £250,ofxi your oxamlrnr must be a Thmber of a body Ilsted In socllon 145 of tha 2011 ACL I conllmi thal l am qualffiod lo undertakg the examlnalk)n lJ8caus8 l am a m•mber ol the Chartered In8Ututo of Management Accntants. whk18 ono of th8 518tgd badl. Your attentlon L8 drawn to the fact that the Charlty has pr•par•d tha acc4)unt8 In acwrdance wlth Acwuntlng and Rerrt)rting by Chartt6es: St81gment of Recommènded Praciice 8KIIc8bl8 to ChatIo8 pr8parfng thelr accounts in eOrdar¢ wlth Ihe FInal RerIlna Standard applb in the UK and Rewbllc of Irel8TrJ IFRS 1021 In prefererKe to the Accounung 8TrJ Rep)rtlng by Charl98.. Statement of R8¢0mmend8d PraGtrce F88uod on 1 Aprtl 25 whkh referred lo In tho exiant rggulatlon$ but has been wtthdrawn. l urKlerst8nd that this ha8 boon do in ordar for the accounts pro• a true and lalr vl8w In ac¢ordance wlth th• Generally Acc¢pted Accountlng Practk dlectlvg for roportlng pgrtthJ8 beglnnlng on or after 1 Jawary 2015. I have completed my fjxamtnallon. l e4)nfirni that VK) matt•r• h8v• wme to rny attenlion In GnectIon th th• •xamlnalion givng m• Cauw to bolfj8ve that In any materlal respecL aceounung re¢dI w¢rv not kept In respect of the Chwty as r•quIr1 ty Sedon 1) of th• 2011 2. tha accounts do Mt accord thoM r•cord8.' or 3. the a¢¢ounts do not cOmY wrth tha applkatda rgqulremonts conwning t ftxm and contsnl of accounts $91 out In Ihe charit {Accnts ReFats) Regulations 2008 other than any requlremenl that the accounts glve a Irue and f8le vlew 1¢h Is not a mattar nSIdered a• part of an IrKJep8nd8nt exornlnauon. I hav• no concgrn8 and h8ve corrw> a¢ross no other matter8 In ¢¥ctIon wlth the examln8tlon to wthlch attantion should b& drawn In th1¥ r•pgrt In ¢xder to enatde • rKorw undgrgtandlng of tha 8ccouni¥ lo b• reaGhed, Page 12
TOWN ANO MAP40R OF HUNGERFORD INDEPENDEKr exAMINER'8 REPORT (CONTrNUED) FOR THE YEAR ENDED 31 DECEMBeR 2021 Thb mport Is mad8 solely lo the Charivs Trustaes. as a INYJY. in aCcan with Part 4 ofthe Charltle8 (Accounts and Repcmts) Regulatlons 28. W work has been undertaken $0 that I mlght 8tat8 to the Charty$ Trusloes Iho8e matter8 l am rewired lo $&te to them in an Ind8p8ndant oxaminefs roFX)rt and for no oth8r purpose, To the fvllest extent P8mitttad bylow. I do not a¢¢oPt or a88ume r88ponsibillty to anyon• other than the Charity and tha Charitys Tru8t8es a8 a b•. for my work orfor thi8 r•port. Slgnod.. Datèd: 8 S•ptsmber 2022 Vl¢torfa Wagg A¢*ca P•nth•rn Accountlng Management Accountants 62 Foxh811 Road Dldcot Oxfordshlr• OX117AD Pa8e 13
TOWN AND MANOR OF HUNGERFORD STATEMENT OF FINANCIAL ACTIVITIE8 FOR THE YEAR ENDED 31 DECEMBER 2021 Unr•8trfct•d Funds Tolal Fund¥ 2021 rot81 Fund$ 2020 Incom• from: Chadlable advttl88 516,655 516.855 303,660 InVestmts 13.601 13,001 13,474 Othar Snwm• 30,869 30.88• 40.644 Trjtal Incoffl• Exp•ndI[• on: Raisin9 fvnd8-. Invoslmont manAgbment fvndj Charftable a¢tlvllkns 4,086 8.560 $20.579 820.679 288,988 Total •xp•ndltur• 297 518 N•t Ineoffl• b•for• n•t galn• on InvMtsn•nts 60,260 Net galns on InvestmeN8 74,WJ 74,560 959 N•t mov•m•nt In furbd• 111,010 81,219 R•con¢lll•tlon of fund•: Tolgl fund8 brought ffftrd Net movemént In fvnds 1,093.643 1,093.643 1.032,424 111,010 111.010 81.219 Tot•1 lund• rrf•d fortvard 1204,653 1,204.653 1,093.643 Th8 Statemènt of th8n 8cthMl8s hKILKlos a19alrrJ and bxsos fa¢ogrsk8ed In the year. The notes on pag88 17 to 33 fcffm part of finand81 statem8nts. Pa8e 14
TOWN AND IAANOR OF HUNGERFORD STATEMEKf OF FINANCIAL posmoN AS AT 31 DECEMBER 2021 Not• 2020 Flxod aM•ts TnblO a889ts 12 283.947 264,541 Heritsge assets 13 406.154 406, 754 Inv•8tm8nts 14 54852 461,358 13149S3 1, 732,053 Curr•nt ••••t• Debtor8 15 197.592 66,688 Cash at bank and In hAnd 141479 T8.970 Crgdltor8.' amount# falllng du• withln ong y•ar 340,071 I858 le 313910 179 791 N•t curr•nt {Ilablllltl••y••••t• Tclal a88et8lo curront Ilabllit588 1,097,920 Cr•drtor8.' amounts felllng due more than oné yaar Total nat ••••ts 17 (38881) (4,27T) 12H6S3 1,093,643 Charlty fvnd• Unr98td¢tsd lund8 18 1,204,8S3 1,093,643 Total fund• 1304,6S3 1,098,643 Th• flnanclal statomonts wern •pprovod and autrISod for Issue ty Ihe Tn0$ and sbgnad on Ihelr behall by.. oseph Trusl8e, Conslable Date: The notes on pages 17 to 33 fonn part otthese fina81 statomgnts. Page IS
TOWN AND IAANOR OF HUNGERFORD STATEMENT OF CASH FLOWS FOR ThE YEAR ENDED 31 DECEMBER 2021 2021 2020 Not Cg8h u8od In opJrntiThJ athtEIo8 18h flow• from Inv•4tlng actmu DlvkJand8 and int•r88t Inva8tments Procgeds from the Sala ol t¥Ible red a88ets Purchas8 crf henlage 8888ts Purchgse dtan9I• fjxed as89 Cash wlthdrawn Itom Inve8kn•nts 21 15 114 8.250 (153,461) 11982) N•t •h (u••d Inyprovld•d by Inv••llng acU¥lll•• Cmh flow• from flnanelng aetMU•• Cash Inflow8 from now boIrThr4 Ngw finence lea¥eB 50,000 Rapoym8nt8 ol Loa 14.n4) Rfjpaymgnts offinan1088Q6 (6,905) (5,905) N•t ¢a•h provld•d by fln•nelng •¢ll¥ltl•• Ch•ng• In fA•h and cmh equlv4lents In th• ymr Cash and cash equfvalents at Ihe beginning of y82r 63.569 1,592 78,910 77,318 ¢a•h and ¢Mh •qulval•nt8 at th• end of th• y••r The notes on pages 17 to 33 form part Orthe financial statents Pa8e 16
TOWN AND IWIOR OF HUNGERFORD NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. Accountlng Pollcl•s 1.1 BMI8 of pr•parntlon of flnanelal •t•t•m Tho flr481 Jtattsments have prep8r8d In accordance whh the Chv4rt16s SORP IFRS 102) - AcLountSn9 and Rgwrts'ng ty Gharitie8." Sta18ment of R8¢ommèndad Pra¢tico appllcable lo charitles prepartng their accounts in aceordaneo ¥th tha Flnanc481 R*porting Stsrtrdard appllcable In the UK and Republ of IrgL8nd IFRS 1021 (eff•cUve 1 January 20191, the FSnÉndal R8portiTrJ StarKlard applle4ble in the UK and R8publlc of Irdand (FRS 1021 and Charl•5 Act 2011. The flnandal slalements hava been weparÈd to give a truo and falv vlew and hgve deported from the Charhiès IAccounl8 8nd Raportsl Re9uSation8 2008 only to the exient requlred lo provk19 a ond fai wew. Thi8 d•partura has In¥olv&J lOWIng tha Charitiès SORP IFRS 1021 Pu1¢hed on 16 July 2014 rathgr than th• Accounting and Reportlng by Ch81it18S.' ststament of R0mmnded Pradtcè effective from 1 Aprtl 2005 which ha8 sln¢g bean wthdrawn. Town and Manor of Hungorford meets tho dafinitson ol a publlc bgnefft 6nttty und•r FRS 102. Assets and Ilabllttlo8 are inllY recognlsed al h18torkd or transactlon value un18S8 olhtTh¥i8e 8laied in the relevant acg)unts'ng poIIcy. 1.2 Fund a¢¢¢)UMlng G8narg1 fiJnd$ are unre8lrlcW fund8 whth are avallalle usè al th• discretlon of tho Truotooa In furtherance of the generd obl8clve8 of tho Charlty and whkh hav& not boon dgjlgnatod for other purpoJe8. Inve8tmont IrKome. gaSn8 and k)8aes are dlocat•d to th• opproprlots lund. 1.3 Golng ¢on¢•rn Tha truste•8 have cxjn51der1 the Impact oftho global Covld-19 pandemlc cm the abllity ol the charlty lo coniinue trading for th• for8seeaL4• fiJtur•. Thls revknv ha¥ Induded wn8klerlng th8 Impac4 of tho pandgmic lo th• dat• ol •i9nln9 th? flnanGtal staiem8nts. Based on thi8 review the trusto68 bglhv& that tha flnanclal statements have baon prap8r&J 8ppropri01oly on th• ng ¢orK•m ba81s. 1.4 Incom• All Incom8 ts roc0gnL8 onco thg Charlty •nknt to th6 kncThie, Irlg probable Ihat the Incomo wll be rtteived and tho amount ol reable can b6 m888ur8d rellay. Incomo ts% rec4)verabl8 In relatlon to invostrnort Inc4)m• is r980d at the Ime the Inve8trnont Incom• i• rrt•tvabh. Other Income is reniSed In the FWh)d in It L8 reC¥W) and to the aynt th• good8 hovtr been provided or ofthe serv. Page 17
TOWN AND PIANOR OF HUNGERFORD NOTES TO ThE HNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 I. AGGOUntlng lIcIS (eontlnii•d) 1.5 Exp•ndltur• exp•ndrture18 r8cognwd Oft there Is a bgal or cffistrucuvo obligallon to Iran8fèr •eonomie bonefft to a Ihird party, it Is prcthblo that a transfer of e¢c¥)omi¢ ben•ffts wlll be required In 8etdement and the amount of tho oblogation can b• mea8ur•d rdiably. Expendlture Is dassFfie(I by 8ctivlty. Thg c08ts of each 8thity aro mado up oftho total ofdirect rAJsts and $hared o)sts. Indudiro 8UPPOrt cost8 invow In undgrtaklng each activity. DlraGt costs attrtbUtat8 to a singl8 athty are alloc4led directy to that a¢tsW. Sha Cts which contrfbut• to mor• than one advlty arbd Supr o)sts whlch aré not attrfbutable to a 81ngle 8dvlty are apportlon8d belween those actfviti8s on a ba81s con86stent with tha u88 of ro8ourc88. Central Staff c¢yJts ar¥ allctatwj on the basis of tlm• •p8nt, and depr•dalk auooatod on the portlon of Supp1 CO8ts are thos8 costs irK#Jrrnd dlre(y In sukwt of oxpenditur• on thè obJ8Ct8 oftho charfty and Include project man8oemenL Govem8nco (xxts are th08e inGurTed In connoctlon with 8dmln18tr81kn of the Charfty and complianc• wlth ¢onstllulh)nal and slatutory requlremanl8. Costs ofganeratlng funds aro c)8ts Inrj In a1tr4ctlw voluntary In¢omo, arKI thoso incurrod In tr8d¥& actfvW88 thAt raho funth. Ch•rilèbl• actfvit198 and GoVne eo8ts ar• costs Incurred on ChwW8 op8raUon8. Includlng Support costs and C rolotlng to the govemance of the Charlty 8pporUonod to ¢horrt8blo 8Ctlvltl••. Grants payabl8 ara eharyd In th• tha offer Is made oxcept In th06e cases wha the offer 58 condrtional. 8uth grants bthng r•co9nined a8 expendmure when Ihe condillons altachlrva ar• fuifilled. Grants offered subject to COndrtr% whlch have not b88n met at tha year ond are noted as a commrtmenl, Ixrt T1 aceru&l as exp8rKllturg. 1.8 Gov•rnm•nt grants Govornment grant8, Inc4udlng Covi&19 related grants. ar• erodlw to the Slal•mgnt of flnanclal a¢tiviUes as the related exF4ndlluro 1$ IrTed. 1.7 T•n9lbl• flx•d a•••l• and d•pw•¢latlon A revlw for Impalrment of a fixed assei ts cathed out K events or thanges In clrcum#t8ne•$ Indkats thet the carrying value of any frxe(l asw may not b8 rgcovarable. Shortfall8 baVe8n the carrying value of ILx&J assets and their rver$e amount8 are re¢ognl88d as Impami8nt8. Impairmént Iosw aro rwni8od in tho Slatomen¢ of lknanow 8clMleJ. TangikAe ftqod assets are camed ¢c61. nel ofdetmiakn and any provisK)n fc Impalrm9nL The Iru8ts88 IX•nshler that thè fre8hoJd propgty 18 maintained in 8uth a state of ropoir that ils residual valug is 8t least•qual lo rt¥ nel bwk value. AS a r8suII. the corr9sponding d8pr6clation would rh)t ba matwlal and therefore 15 not thar9ed In the Ststement of Financlal Activltles. Motor vahkles are depwlaled at 8 rnt8 of25% using the rwjuong anc6 m•thc*J. Page 18
TOWN AND MANOR QF HUNGERFORD NOTES TO THE FINANCIAL 8TATeMEiifs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 l. A¢¢ountlng pollcl•s (Mminu•d) 1.8 H•rltsg• a••ots Th8 h$rtta auets repro8onts land and burn98 In HUngarfd. Tha assets con818t of Hungerford Town Hall Complgx, HuWrd Portdown Common Fr8omsn'8 Marsh, Harvtys Meadow, The Fbhery. The Croft. Hungerford Marsh, Pickèt M&ad and Eddlngton Mlll. The 884ts ere Sncfuded kn the balance slel at C08t. The 8588ts are deom8d to h8Vo an ind6fmitè usolul lrfe arKI therefor8 depre¢6aQn Is deemed to bo Immatèrial. Exp8ndibJrn which Is rgqulred io pre8eNe or malntaln tha 8ssets Is racognised in the Slat8menl of FinanGla Activliles when tt Is IrKurred. The managamenl policy in re8pe¢l of hodtage a88ets 18 8ummari6od note 13. 1.9 Invwm•nts Fixed a86ol investments are a fcym of fina181 Instrm¢fit and are intttslpy r8cognls8d at their Irgntsactlon co8t and $ub86quenty measurvJ al falr valuo at thè Balanco 8hool dats. unlè98 Iho valué cannot bo me8surfjd r8fiabty In which case It mea8ured al cost less impalrm6nt. lnves1rrl galn8 8nd lossès. %b8thgr re811ged or unr•allsod, are comblnod and pr8$ented 88 'Gatn81(Losse51 on Inv•strnents' in tha Slalgm6rrt of Fin•nclal ACvItIes. 1.10 D•btorn Trade and other d8btor8 8re r8eognis at the settleThnt amount aftor any trade dl8count offered. Pmpaymen18 are valued 8t tho annt prtyald Mt ofany trade dI$nIS due. 1.11 C••h at nk and In hand C88h 8t bank and In ha Ind]09 ¢88h tshort-lerm highty Ilquld inv•strn8nt8 short maturlty ofthr•• mofttho ¢x from the dale ofacqulsttknn or openlng oftho depositor simllar 1.12 Llabllltl•• Llabllld88 ar• rocognW when FJ an oblhaatkn at Ihg 8aknce $he¢t dale a8 a r68uII ol P881 event, il is F0baa Ihai 8 transfer Of economK benefit wlll be requk8d In settl8menl, and tha amount of th¢ Mtuemenl ¢an be 8811mabJ rellafly. Llabllltles are re(nISed at the amtyJnt th1 tho eharlty anldpates tt wll pay tQ Settle the debt orthÈ tont rt h4S TOcgfv•d a• advan paym•nlJ for the 9octh or $8Nces tt nw$t wovkl•. 1.13 Flnan¢lal In*rnm•nts The Charity onty h88 finandal assets and financial 118bilitles of a klTrJ that qu81ty 88 ba$lc ftnan¢i81 instruments. B8sK fin8rKial instwmgnts are Inltially reciYJni5ed at tr8nsactton v8lue and subsequ•ntty measured at 8etllement Value wtth tho exception of bank108ns whlch ar8 8ubsequ8nUy mgasured at anrtIsd c<4t using tho effthe Int8re8t method. Pa8e 19
TOWN AND MANOR OF HUNGERFORD NOTES TO ThE FINANCIAL STATEMEPITS (CONTINUED) FOR ThE YEAR ENDED 31 DECEIIBER 2021 1. Ac¢ouMing poll¢les {contInd) 1.14 Flnance and hlm purch• A8s8ts obtalned under hire wrchase contracts and finance lea808 are capltsli88d as tanglble fixed assets. Assets acquired by finance lease are depreoated over th& shorter of the laase term and thelr u8gful Ilves. A886ts acqu13 by hire purtha8e aro deprociated over thelr usaful live8. Finance leases are those where substantlally all of Ihg benèfits and ri8k8 of ownarshlp are 88sumed by the Charty. ObllgaUon8 under such 8gwm•nts are Included In cr6dltors, net of the fin9r charge alloe4tad to fvlure perKhJs. The finance dement of the rental paymenl Is charged lo the Statement of Fln8ArAal ActWe8 80 as to wcrfluco a constsnt perlodi¢ ral8 of charyè on tho net oblh3ation ¢)uWandlng In riod. 1.15 P•n•lon• The Charlty operates a (19fined contdbullon pension sthemo and ts p8nslon char9e r8presen18 the arnnts payat40 by thg Charfty to thè ffijnd In r08PKt ofth• year. 1.16 Crhl¢al a¢¢ouTrtlng e8tlm•t•• and •w••s of Jud9•m•nt EsUm8tes and ludgments contlnudty evaluated and are basgd on hlslortc41 experlèn and olh8r fa¢tor8. Indudlng exWtions of filre gvgnts that are blad to be rna8onable undar th• drcum#tsnca8. Tho Charlty m8k88 é8timat08 arKI a8•umpOon8 nCOmIng Ihe fvture. Th r83ultlng accounUng 08llmaw and 008umpth wlll, by dolknlllon, tho r8latsd &thal rejults. There ar• no &cntIng ludgemwts deemd to the ac¢ounts. 2. Incom• from ¢h•rft•bl• •cfvltl•¥ Total Fun 2021 Funds Funds 2020 Rent8 recelved 60,333 35,032 Wayleaves and Ilcen 56,816 58.016 48,295 DEFRA Income 37.332 37.332 46,9J3 Hockdd• Incom 97 Oth•r Incory 206.921 200.921 14.678 Rod f••s end graztr 155.233 15S233 158.707 Total 2021 518,655 516.655 303,660 Totsl 2020 303.660 Page 20
TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS {coKnNUED) FOR THE YEAR ENDED 31 DECEMBER 2021 3. Other Income Total Funds 2021 Funds 2021 Total Funds 2020 Othef Irnl 1,027 5T9 Covld-19 9r8nts Proflt ¢)n dlsposaE of ed assets 29.842 31,815 8,250 Total 2021 T¢*1 2020 Inv•8tm•nt Incom• Unr•th¢t•d Fund8 2021 Totsl Fund8 Total Fund8 2020 Dlvldend8 13.586 13,586 13,360 Dew6lt aLxount Interut 15 15 114 Total 2021 Total 2020 13,474 13.4T4 5. Anatysli ol donallon• Donallons lo org•nMtlon• 2021 rol Funds 2020 Fund• 2021 Don8Uon8 to lo¢AI org•ni•ali Total 2020 5.090 Page 21
TOb•ll AND MANOR OF HUNGERFORD NOTES TO ThE FINANCIAL STATEMENTS (CONnNUED) FOR ThE YEAR ENDeD 31 DECEMBER 2021 & Donatloni to local organlsatlons IntInU•d> 2021 Chamb¢r of Comm•rc Hungerford Youth and Communty Contr• Hungerford Summer HUngerf cck Club Hungerford 8rKI Cambum Ediatlon FourKl8tlon Sl Lawrence Church Hungerford Town Band Hung•rf Town Counal Hungerford Royal Legbn Bran¢ 1,400 500 1,500 500 1,000 1,000 200 Total 11,100 8. Dlr•ct ¢o•ts 2021 2020 RepalT8 and malnlgnanc• Hockude expen¥o8 Other dlre¢t •xwna Fkh re-8tocklng costs Fish pass eosl8 Wages and salarlBs Natlonal Insurance PonsFon cost 31,003 37,298 3.950 12.306 86,913 34,718 1,991 10.302 33.844 3.405 1.382 171295 88.468 Pa8e 22
TOWN AND PAANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 310ECEMBER 2021 7. 8upport costs 2021 2020 u11ft5 and Ingurance 21.971 17.390 Repalrs and maknlenan Clerk's office expen Legal ar wof088lonal 121.918 f 6. 121 4,321 33,1TT 21,487 Accounthncy and lax 11,760 11.260 Gov6manc8 costs son and 8undry Oepreclatson 17.770 14,816 3.571 4, 140 8ad d6bt• (¢293) 8,291 Wag•• and salari•8 11)0,283 86,Q40 NatlcMI Insuranc6 3,837 p•non cost 2.053 338,184 195,400 Analyal8 of •xp•ndhur• on chartt4bl• actfvltl•• summary by fund typ• Totsl Fund• 20 Total Fund8 2Q20 Funds 2021 Dlrect and 8UPFh)rt 509.479 509.479 283,868 Donatlons to Ical orDanItkR 11.100 11.100 Total 2021 520,579 520,579 288.958 Total 2020 288,958 288.958 Paee 23
TOWN AMD MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMEpifs (CONTINUED) FOR The YEAR ENDED 31 DECEMBER 2021 Analy•l• of frxp•ndltur• on Gharllth athltt•s (eontlnuod) 8umm•ry by •xp•ndltyr• typ• Staff costs D•praclatlon Oih•r ¢o¥ts 20 2021 Total Fund8 2021 Total Funds 2020 Dlr8¢t and •upport ¢>)sts DonatkJn$ to Ic¢ol Organisadons 143.07Y 3,576 362,828 509,479 283,888 11,1C 11,100 5,090 143.077 3.576 373.926 520,379 288.958 Tol 2020 130,621 4. 140 154.197 288.958 9. Staff C** 20 2020 W8g•s and 8•la 135.001 119,884 Soctal security co8ts 7.302 Contrllyjllm to d¢flnfyJ contrlLwlkn sthgm88 3,032 3.435 14J.077 130,621 The average numb8r of p8wn8 ty th• Charity durfn9 th• y••r w•8 ao f01b¥,. 2021 2020 FlsheryAand managomenl offl No employee recolvwj rernuneration 8mounOno to nM)r• than £80,000 in •lthor yotsr. Pa8e 24
TOWN AND PIANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMEpifs (CONTINUEDI FOR THE YEAR ENI)ED 31 DECEMBER 2021 10. Indoponthnt examln•rfs r•mun•rallon The tndepend8nt examinèrfg rlmunoration amounts to an Irb4epewKknt axamlnor fo9 of £2,ns (2O£4,56Q). 11. Tru•t••' r•mun•ratlon and •xp•n During ItK8 year, Tr) Tru8tOgs re¢oived any r•murrntion or other bentrfft812020. £NIL). Durfng th8 yèar ended 31 Deeamber 2021. exp8nso8 lotallng £2,026 were rdmbur88d or p8kl dlr8ctty to 2 TN8te88 (2020. £7,057 to 8 Trsta&S). 12. Tanglbl• fix•d ••••ts Fr••hold Pl•nt & Proprty Machln•ry Co•t or valu•tlon Motor V•hlcl•• Total At 1 January 2021 252,121 18,066 270.187 Addlllona 2.982 2,982 Al 31 D•cemhr 2021 252,121 2,982 18.066 273,169 D•pr•cl•tlon At 1 January 2021 h8rge lor the year 471 3,105 3,S76 At 31 Doe•mber 2021 N•1 book v•lu• Al 31 D•eemb8r 2021 252,121 9,315 263,947 At 31 Docember 2tr20 252. 121 12,420 264,541 Page 25
TOWN AND MAPIOR OF HUNGERFORD NOTe8 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 11 Tanglbh fix•d asmts (conllnu•d) Tha fr88hold wopaty C(818 of. 2021 Ch8mham Stroot M•ad 15.745 John O'Gaunt Inn Waterke6perfs Hw80 Unty$ M8adow 96,905 131.471 Canal Walk 8.000 13. Ch•rlty h•rlt•q• a88•t• A•••t• r•cognl••d at ¢t H•rtt•g• A*••l• 2021 Tolal 2021 CaTrylng valuo at 1 January 2021 Addrtlon8 406,184 408,154 Carrylng value at 31 DK¥mbor 2021 The Hertrage ass8ts rewwenl land and buIldh& In Hwrford. Thè ag9•ts arn Induded In th8 balarKe at CQ5L Sublact to approv81 of the Trlee& and Chaffty Commlssbn, the chadty may dlspw ofthes8 ltsm8. The a&8ets are accessltrle 10 Iha résidents of Hungerford to . Paee 26
TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STA7EMEPn (¢ONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 13. Charfty horhag• 48s•ts (¢ontlnued) 8umm•ry analyals of h•rlty a*8•t tran8aeiion• 2021 2019 2018 2017 Purch88es 163.481 Th• h•rftsg• a•ut• eon¥l81 of: 2021 Hungarford TO Hall Portdown Comm¢n & Fr•wnan'8 M8r8h HarvOYg Meadow The Fi8h8ry Tho Croft Hungerford Mar8h 220,629 Plckat Mead 32,064 Eddlngton lako And mlll WKI 153,461 406.134 Pa8e 27
TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL 8TATEMEiif8 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 l& Flx•d a•8et Invutm•nts List•d Oth•r S•¢urhlM Invmtmonts Total Co•t or valualloh At 1 January 2021 421,179 40,179 461.358 Addltknfj Dl8p)sal8 (1,909) Not galn81{Iw•8) on jnv88tm8nts Income relnve*ed 77,341 77.341 13,586 13,586 Inv88tm¢nt managerfo fe08 (5,465) (5.465) At 31 Decembor 2021 496.552 544,852 N•t book v•lu• A8 8t 31 Opumbw 2021 544,852 al 31 09mber 2020 421,179 40.179 461,358 Inv••tm•nl• at valuatlon comprlv: 2021 2Q20 Llst8d Invtrstments 421, IT9 48,30D 40.179 T•)tal mark•t valuo 544,852 461,358 Page 28
TOYIN AND MANOR OF HUNGERFORD NOTES TO THE FINANCIAL STATEMENTS {¢opmNUED) FOR THE YEAR ENDED 31 DECEMBER 2021 15. Dobtorn 2021 2020 172288 52.961 Othw debtor8 13,489 Prepaymonts arAI accrued Incw 1A81 238 197.592 66,688 l& Cr•dltor•: Amoum* falllng du• wlthln ong y•ar 2021 2020 Bank108n 815 Tr8dè ¢xed6tor8 22.928 12.335 0th8r tsxatlon and 8ooal SOJty Obllgatlon8 under lknanco Itse arKI hlra rCha contracts 4993 33.954 4277 3.662 Oth•r trodStor8 17,366 6,811 njalg and defvrred Ino) 254.M1 71.039 313,910 179,791 17. Cr•dltorn: Amounts famlng du• •ft•r mor• than on• y••r 2021 2020 Bank Loan 36.461 Obllgatlons under flnance thse aTrJ hlre purchase contracts 4.277 36.4a1 4.277 Page 29
TOWN AND MANOR OF HUNGERFORD NOTES TO THE FINANGIAL STATEMEKfs {CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2021 18. 8tstsm•nt of funds 8tstsm•nt ol funds- ¢urr•nt y••r Balanc• at 1 Janu•ry 2021 In¢om• Exp•ndMurn G•ln•l ILo••••l 84lane• at 31 D•e•mbgr 2021 Unr•G1•d fvnds Genord fund8 Slat•m•nt of fund¥- prfor y•ar B8lance at 7 January 2020 Balan¢e &131 Dtrcgmbor 2020 (Loswj Unr••trfct•d lund• Ggner81 fund# 1032 424 357 778 959 1093 643 19. Summary ol fund• Summary olfund•- cury•nt y•ar Baln¢• 1 l January 2021 G•ln•l (Lo••••) Balanc• •t 31 D•c•mb•r 2021 Gon8rn1 fd8 8ummary olfund•- prtor year Balance at l J8nuary 2020 Goln (Losses) Balonc6 al 31 D8camb8r 2020 Gra1 fund• 1032.424 P59 1093 643 Pa8e 30
TOWN AND IAANOR OF NUNGERFORD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 20. Analy#i• of alaets betwe•n fiFnd* An•tya •f n•t a•Mts b•ts••n fvnds- curr•nt p•rlod Unrgstricted fundo 2021 To¢41 Funds 2021 Tanglble fix8d a88&ts 283.947 284,841 Flxod a8$01 Invgthants 6U.852 461,358 Heritag8 a880ts 406.154 406,164 Current a810ts 340.071 145,65B Cr•J6tors duo wthln on• ar Creditor8 du8 Fn mro than one yoar 1313,910) (179.791) (36,461) 14,2771 1.204,853 1.093,643 An•ty•l• of n•t a•t1 I1••n fund•- prfor p•rlod Unr•strkled rotal Fund8 2020 3020 Tanglble fix assets 264.541 264,511 Fixod a¢s•t inve•kn•nts 461.358 461.358 Hgrltage a888ts 406,154 406, 154 Current 8S96ts 145.658 143,658 Credltorn du• vAthln ty)• yoor Crgdrtcf¥ duo In mre than 1179.791) {179, 791) (4,277) (4,2T7) 1,093.643 1,093,643 Page31
TOWN AND MANOR OF HUNGERFORD NOTE8 TO TrIE FINANCIAL STATEPIENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 21. R•eonglll•U•n of not MOV•n In ful$ to n•t cmh Ilow from tsp•raUng actlvlll•• 2021 2020 Inc for the (88 per Statamant ot Flnanc Actlvrties 111,010 01,219 AdJu•lm•nts for. Depmciatkn ch8rgo8 Profill{Lo8al C dl8Fosd 018d 888ats Galns on Inve8trner)ts 3,576 4,140 (8,250) (74,5501 (959) Dlvkl8nds and intorest from Intsr (14586) (13.474) Invèjlmont managoment1oe8 4086 8,560 R6all8ed IrAs on sale of irwaslmwts 854 1,417 1130.904) (33,499) {DèCrea8•ra*• In u8dttorn 178,679 N•t c••h provld•d by op•r•tlng actlvltl•• 21 Analy•l8 of c••h and cuh •qdv•l•nl• 2021 2020 Cash In hand 142,479 78,910 Tolal ca•h and cash •qulval•nl• 142,479 78.910 Pa8e 32
TOWN AND MA140R OF HUNGERFOftD NOTES TO THE RNANCIAL STATEMENT8 (CONTINUED) FOR ThE YEAR ENDED 31 DECEMBER 2021 23. Analy•la •f In n•t d•bt J•nuary 2021 Cuh flo At31 D•c•mbor 2021 Ca8h at bank a1 in harKI 78,970 63.449 142,419 D•bl du• wKhln 1 year Fknancel86• (SO,OOD) 4724 (43876} {9.929) 5.052 14,27n 2& P•n•lon commltm•rrt• Durtng the yoar COntrlbutknn8 of £3.031 {2020 £3,435) woro pald to a dgfin&J contrlbutlon 8ch•m•. AJ at th• y•er ond £nll {2020: £nill wjs unpa6d. 25. R•lat•d party fran•alon8 Durlng the ye8r, thern werè ffy)d wrchaw mado12020: £nl) the Tulu Pc1• T8•shopp0, company In whlch tru8teo MrB B Barr18 an Mrs F Hobson Is managèr. No 8mount8 were unpald as at tha yeor end12020: £nlll. Page 33