NEW ALRESFORD TOWN TRUST Charity No. 239052 TOWN ST NEWALRESFORD Annual Report and Accounts for the year ended 31 December 2024 Current Trustee Mrs Vanessa Andrews (Chair) Mr Robin Atkins {Trea5urer retired 13 October 2024) Mr Roy Gentry (Treasurer appointed 13 October 2024) Mr Ernie Jeffs Mr Len Orton Mrs Clare Pinniger Mr Steve Parker Ms Sophie Rawlings QfEGo: Old Fire Station, 54 Broad Street, Alresford, S024 9AN Inde endent Examiner: Butler & Co Audit Limited Chartered Accountants and Registered Auditors The Old Stables Sutton Manor Farm Bishop's Sutton Alresford Hampshire. S024 OAA
NEW ALRESFORD TOWN TRUST Contents ANNUAL REPORT OF THE TRUSTEES......................,... . TRUST DEED....................................,...............,.. STRUCTURE OF THE TRUST.................................................,....... OBJECTS OF THETRUST........................................,............,....... PUBLIC BENEFIT STATEMENT........,................... PRINCIPAL ACTIVITIES...........,................ TRUSTEES.. SEPARATE ACCOUNTS..............,,..,,..,..........,...,......,.............. ............... . .............................. ANNUAL REPORT AND ACCOUNTS...........,.,...,..,................................... ............................... RESERVE FUNDS AND ACTIVITIES.. ACTIVITIES 2024.. ,io ACKNOWLEDGMENT OF GRATITUDE............................,.............................,.. . .12 BALANCE SHEET AS AT 31 DECEMBER 2024......... .14 STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2024..................... 15 RESPONS181LITIES OF THE TRUSTEES.. .... .24 INDEPENDENT EXAMINERS REPORT......... ..25
NEW ALRESFORD TOWN TRUST ANNUAL REPORT OF THE TRUSTEES The Trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The Trustees have adopted the provisions of Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. TRUST DEED The current Deed is dated 11 October 1989 and is the Trust's Govern ing Document. This has been amended by Order of Charity Commission dated 12 February 2004, by a Trustees, re501ution on 8 October 2012, and by Memorandum of Amendments dated 15 July 2015. STRUCTURE OF TIIE TRUST Registered Charity number 239052 Principal address The Old Fire Station 54 Broad Street Alresford Hampshlre S024 9AN round The Trust was incorporated on 28 March 1890 as the Successor Or8anisation to the Bailiff and Burgesses. The Charity Commissioners have regulated the Trust throughout its existence and agreed that 9 Trustees should run the Trust with 5 being nomlnees of the Parlsh (now Town) Council and 4 by co-options. 21 Current Posltlon On 15 July 2015, with the agreement of the Town Council and approval of Charitv Commlssion, the Trust amended the Governing Document in several Key areas: _ Introducing a scheme of membership whereby residents mainly in the S024 area can join the Trust for a 'one off, payrnent of £5 and over 150 Members have so far signed up. b. Allowing the members to elect up to 5 Trustees every 4 years commencing at AGM on 23 February 2017. As a result of Covid, the members next election will be at the AGM 2026. Details of all the three Memorandum of Amendments are set out on the Trust's website, together with the covering letter from the Charlty Commission. RECRUITMENT AND APPOINTMENT OF NEW TRIISTEES The appointment of new Trustees is goverr)ed by and set out in the governing document.
NEW ALRESFORD TOWN TRUST INDEPENDENT EXAMINER Julie M Butler FCA Butler & Co Audit Limited Chartered Accountants and Registered Auditors The Old Stable5 Sutton Manor Farm Bishop's Sutton Alresford Hampshlre S024 OAA VOLUNTEERS The Trust Is made up of members. The Trustees, from time to time, do call on support from volunteers to assist in fund raising activitles. The funds raised, as detailed later in this report, have all been achieved through the activities of the Trust's members and supporters plus grants from local councils for specific projÈct5, OBIECTS OF THE TRUST The preservation of land. trees, buildings and documents In New Alresford and such other charitable purposes for the general benefit of the inhabitants of the Parish of New Alresford. The other charitable purposes currently are the restoratlon of the Eel House, the Arthur Stowell History Fund, the Alresford Museum, Emergency Funding for deserving cases and the Community Mlnibus. PUBLIC BENEFIT STATEMENT The Trustees are aware of and have had regard to the guidance issued by the Charity Commission on public benef St and believe the activltles provide charitable support to the general public. The focus on the local Community help5 foster community splrit and togetherness. GOVERNANCE CODE The Trust intends to adopt, in 2025, the Governance code for smaller charities which follows the seven prlnclples.. Or8anisational purpose Leadership Integrity Decision making, risk and control Board effectiveness Equality, diversity and inclusion Openness and accountability
NEW ALRESFORD TOWN TRUST PRINCIPAL ACTIVITIES The Trust's principal activities in New Alresford are:_ Operating a local Commvnity Minibus. Runnin8 markets in Broad Street. Ownership of the Old Fire Station. Maintaining The Avenue and trees in Broad Street. Administering the Arthur Stowell History Fund. Operating a 99-year Lease on the Eel House and finalising its restoration. setting up and operating the Alresford Museum. Emergency Funding for deserving cases, including Covid. TRUSTEES Trustees served durlng the year as follows.. Trustees who left during 2024.. Penny Mcclelland Co-opted Trustee appointed 910912020, resigned 1810812024 Robin Atkins Co-opted Trustee appointed 1311012019, term ended 1411012024 Current Trustee5: Current term started Type of Trustee end of current term Vanessa Andrews Roy Gentry Ernie leffs 15 June 2022 Co-opted by Trustees Isjune 2027 27 April 2022 15 August 2022 Members vote Co-opted in place of members vote Co-opted In plzce of members vote Co-opted by Trustees Co-opted by Trustees Co-opted in place of members vote Co-opted by Trustees Member5 Vote AGM March 2026 AGM March 2026 Len Orton 10 March 2022 AGM March 2026 Steve Parker 22 May 2024 Clare Pinniger 23 February 2024 Sophie 16 July 2024 Rawlings Nigel Webb Vacant 22 May 2029 23 February 2029 AGM March 2026 22 January 2025 22 January2030 AGM March 2026 In addition, Nigel Webb was appointed a Trustee on 22 January 2025. Nigel will lead our local f undraising and sponsorship programme. During 2024 the Trustees carried out their principal activities by delegating responsibility as follows.. Vanessa Andrews Robin Atkins Roy Gentry Ernie Jeffs Len Qrton Chair, Markets and Ee1 House Treasurer Alresford Museum and Website The Avenue Market and Clock
NEW ALRESFORD TOWN TRUST Claire Pinniger Sophie Rawlings Steve Parker Minibu5 and Hardship Fund Clerk and Bridge Open Days Museum and Open Days PATRON We are delighted to welcome M ichael Spencer, the Right Honourable the Lord Spencer of Alre5ford as our Patron. SEPARATE ACCOUNTS The Trust analyses between the following Designated Funds; l. General Fund 2. Minibus Account 3. Arthur Stowell Hlstory Fund 4. Eel House S. Alresford Museum 6. Emergency Fund for deserving cases includlng Covid relief 7. Sinking Fund for the Malntenance of The Avenue Although the funds as allocated are not held In distinct accounts, they are dealt wlth in the Trust as respectively Restricted and Unrestricted. RISK MANAGEMENT The major risks to which the Trust Is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate these risks. It Is recognised that systems can only provide reasonable but not absolute assurance that major rlsks have been adequately managed. In the opinion of the Trustees the key risks are: The loss of reputation due to error, or fraud. The loss of income due to error, or fraud. Insufficient numbers of Trustees to allow the Trust to continue. Insufficient funds to allow the Trust to meet its objectlves. The loss of income due to unforeseen event5 such as pandemics bl dl In the opinlon of the Trustees the policies and procedures are adequate to mitl8ate financlal and reputation loss due to error or fraud whilst maintaining a vlable future financially. Internal control risks are minimised by the Implementation of procedures for authorSsation of all transaction5 and projects. ANNUAL REPORT AND ACCOUNTS The Trustees have prepared account5 to 31 December 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191. The Trust is classified as a smaller charity and so the Financial Statement5 require only independent examination.
NEW ALRESFORD TOWN TRUST FiTiaJice and ReSee The Trust has adopted a policy of medium financial risk with the majority of its current assets, reflected in the various funds, being invested on a short-term basis or with COIF Charity Funds on a long-term basis, which currently give a better dividend return than cash invested Isee Note 61. The Trust has no debt. The Sinking Fund for the Avenue stands at £30.9K and wlll be built up to £SOK during the next 20 years. The General Fund stands at £81.SK and is adequate to cover the future activities. The Accounts reflect the unrealised gains shown by revaluations as at 31 December 2024 of £360.7K as set out in Note 6. The Financial Statements are set out on Pages 14-24. The net income of the funds to 31 December 2024 are summarised as follows: Funds Gr055 Income Expenditure Net Income General Mlnibus Arthur Stowell Eel House Alresford Museum Hardship/Emergency Slnklng Fund 19214 40434 59 1211 2534 96 S79 17150 14468 1395 250 1839 502 2064 25966 113361 961 695 14061 579 RF.SERVE FUNDS AND ACTIVITIES The Trustee5 have reviewed their principal activitles and consider the monles needed to carry out major projects to meet their objectives are adequate. e Avenu The land was conveyed to the Bailiffs and Burgesses in 1869 and then to the Trust on Its incorporation in 1890. The Avenue represents the key feature to the western entrance of the Town and contains some 114 Trees, which are subject to Preservation Orders. Although the individual trees have long Ilves, they still need care and attention until they die. The Trustees had set up a Sinking Fund for tree work needed to keep the continuance ofThe Avenue. The Sinking Fund has been increased by £579 with a balance at 31 December 2024 of £30.9K. A full Tree Survey took place in early 2024, and the resulting works programme is taking place during January-march 2025.
NEW ALRESFORD TOWN TRUST Museum The Trust took over the defunct"Alresford and Distrlct Museum Trust" on 17 November 2011 with the object of continuing to acquire local artefacts and documents and the eventual objective of finding suitable premises to exhibit and display the material in the Town Centre. Since November 2011 the Trust has spent nearly £7K in acquiring artefacts and documents as well as finding 400 items of archaeological interest In fields adjacent to Alresford. We will keep expanding the number of artefacts and documents. The Trustees and its tenant, Artworthy Framing, agreed a new 12-year Lease in respect of the Old Fire Station from l January 2020, whereby the Trustees would occupy two rooms behind the Red Doors, and the tenant would use the remaining half of the building. During 2019 the Trustees have used its room as a museum for the old horse drawn Fire Englne and artefacts. The cost of converting this room to a Museum Room was £13.8K. It was first opened to the public on 15 September 2018. The Trustees expanded the Museum area during 2020 into the second room, Further costs of converting this area amounted to nearly £23K. Eel Hous The Eel House wa5 built in the 18205 by the then owners of Arlebury Park House and continued in commercial use until the late 1970s re8ularly shippin8 live eels to London. It was then abandoned for over 30 years and the site, and the building became very overgrown. In 2006 two volunteers began to remove the ivy; a job they did not expect would be difficult or expensive. As they cut the first thick stem5 there was a loud crack; the South-west corner of the building had collapsed; al I that was holding It up were the remaining stands of ivy. Year5 of neglert had allowed the river to scour out the ground beneath the building, assisted by the roots of a nearby Ash with the risk that it would crumble Into the river. With much goodwill all round, the owner granted the Town Trust a 99-year lease on the building at a peppercorn rent. This enabled us to search for charitable grant5 and tax efficient donations for reconstruction and ensured the future of The Eel House. Repairing the collapsed found3tlons and walls was the first prlority followed the restoratlon of the external structure, rebuilding and repointing walls, replacing roof tiles, and installing new railings. This work was completed early in 2008, and the first open day was In April of that year. The Eel traps have been restored and the essential work on the sluices ensures the Eel House continues to fulfil one of its primary functions,. the flow of water in the river and its level upstream previously undertaken using timber and plastic sheet. This was completed in 2021 at a cost of some £25K. An Eel House booklet was launched on 18 April 2022 covering the History and Habitat, and this is available at open days for a small donation.
NEW ALRESFORD TOWN TRUST Open Days continued successfully in 2024. The Eel House was open on 6 occasion5, and welcomed a total of 1350 visitors, despite some wet weather. Communit Minibus The Community Minibus Service expanded significantly in 2024, managed by Clare Pinniger as Trustee, with volunteer managers Ken Coburn. Angela Lewis and Julie Jame5, plus the 30+ volunteer drivers. The two minibuses completed over 9.000 miles, taking around 3,500 passengers on 260 roundtrips. This was 50% more than in 2023, with additional regular shopping trlps and also lending the buses to other local non-profit organisatlons to support their activities. Financial support has again been received from local btjsinesses and parish councils, which is essentlal to minlmlsing the donations needed from passengers and ensuring the minibus is accessible to all. The Town Trust ha5 decided to replace the older mSnlbus, which has reached the end of Its useful life. After a detailed assessment process, we have ordered a Mercedes Sprinter with full accessibility conversion, similar to our existing Mercedes minibus, which should be delivered by June 2025. The total cost of the new minibus will be £90K. Whllst we can lust aboLJt cover this cost from our reserves, we are actively fundraising and have been delighted to receive donations already including £20K from our new Patron Lord Spencer of Alresford. Fundraising will continue through 2025.
NEW ALRESFORD TOWN TRUST ACTIVITIES 2024 MINIBUSES A new minibus was ordered in November 2024, at a cost of £90K. The Trust currently has two Minibuses, having acquired the newest of the two in April 2017 for £58.4K (see Note Ilcll. The old Minibus was restored in June 2017 and will be phased out when the new minibus arrives in May 2025. The Minibus fares are based on donations whlch are at suggested rates well below commercial fares and consequently relles heavily on receipt of outside Grant5 (see Note 91, Gift Aid and Interest allocation. OPERATIONS NOTE Net Operational Receipts ADD: Grants & Donations Gift Aid Interest allocatlon 16071 26460 1338 3047 30238 142721 25966 io LESS: Depreclatlon for year Surplus for the year The Minibus Fund stands at £140.6K of which £30K is deemed to be permanent Capltal. MARKET & FAIR TOLL The weeklyThursday market in 2024 brought in £7.8K In tolls. The flrst three month5 of 2024 were tough due to very wet and cold weather, but the rest of the year progressed well, with 10-12 stalls most weeks, including a new regular Blke Servicing stall, a new Natural Pet Treats stall, and continued support from our established and very popular Frult & Veg, Flowers, Bread and Delicatessen stalls. The market provSdes good value for money and fills several gaps in the town's retail offerlng. EEL HOUSE The Trustees are grateful to volunteers Jon Cr3nfield and Howard Boardman, who organise the volunteers for the Open Days and provide great expertise in the local eco108y. The signage and inforrnation inside the Eel House were revised and updated to be easier to read. A local Bat expert Set up a listening device which was able to identify a total of 9 bat species active around the Eel House, and that information has been turned into posters for visitors. Six Open Days welcomed 1,350 visitors and collected £783 in donations. io
NEW ALRESFORD TOWN TRUST The Rotary Club of Alresford again took on management of the July Open Day, providing the volunteers for the day and sharing the donations received, and we are very grateful for their SUPPOrt, THE AVENUE Financial support has been received as follows: Sponsor5hlp Friends Scheme Other Income Income for the year 2100 695 35 2830 Sponsorship was obtained from Hellards, Charters, C&D Trees and Richard Steel totalling £2,100 in the year. The Friends Scheme involved payments of £2S per household per annum. 21 households renewed their contribution in 2024. The contributors are listed below.. Robin Atkins; Mr & Mrs M Clayton; Slmon Ricketts; Catherine Brill,. Charles Bazlinton,. Mrs Jennifer Clelland,. Dave Stow,. Peter Bridge5; Mr Roger Lockyer,. Dorothy H3mllton,' Felicity Dwyer; Gemma Allen,. Mr & Mrs G Hand,. Mrs. Hughes-onslow,. Mr & Mrs A. Canning,. Barry Aked; Julia Slmmon5,' Robin Good: Godfrey Andrews; Vanessa Andrew5; Ernie Jeffs MUSEUM We had seven successful open days during 2024 wlth most visitors being delighted, and some Surprised, at what they found In the Old Fire Station, The open day held on the same day as the 'Garden5 Open in Broad Street, event saw a record number of 709 visitors Wlth a corresponding increase in donations. The collections continue to grow, particularly the soft toys but we did have some significant other donations. We had two Alresford Craft dolls donated representin8 Queen Victoria and Prince Albert to add to the Royals Collection. We continue to review old documents in our possession and durln8 the year we uncovered the original documents transferring The Avenue from the Bishop of Winchester to the Bailiff and Burge55es of the town, In addition, three A E Wade drawings appeared signed by the Artist. One each of the Medieval Bridge, the Fulling Mill and the Community Centre. These will be on view at the Trust's AGM. We have refreshed the Heritage Photo Gallery on the Museum website,. htt www.alresford.or museum AlresfordO/o20Museum index.html and added many additional photographs mainly from the second half of the twentieth century. We have also started scanning heritage documents and we now have an embryo document gallery which will continue to grow during the course of this year. We a re very concerned that whilst in this digital age many more photos are taken far more are lost than wa5 the case when prints were made. These often re-surfaced many years later and could be retrieved and saved whereas their digital counterpart5 are lost. We are, therefore, doing our best to acquire li
NEW ALRESFORD TOWN TRUST modern day images, particularly of events in the town, that can be archived for posterity. If you can help, please email ro ent alresford.or We continue to seek volunteers to assist us with more opening days but what we would really like is somebody to coordinate the recruitment and management of volunteers as the existing group is well occupied with administration, particularly of collection records, and ongoing maintenance of the building and exhibits, CLOCK ON THE SWAN The Clock was ref urbished in 2022 and will have some further maintenance In 5prlng 2025. EMERGENCY FUND FOR DESERVING CASES INCLUDING COVID. The Trust made 3 payment to I case, totalling £502. This leaves a closing balance of £3.5K. HISTORICAL DOCUMENTS The Trust flles all its Important documents In the Hampshire Record Office and an up-to-date Ilst were last produced in Spring 2011. The Trust ha5 agreed with the Record Off ice not to file documents until at least a period of 5 years has elapsed. WEBSITE www.towntrust.or The website was launched in early 2009 and later extended to cover the hlstory of the Trust and all its current activities, It also has a section to cover Press Releases and news updates. PRESS RELEASES & PUBLICITY The Trust advert15e5 important events and activities by the webslte, press releases and reports, and via a regular column In the Itchen Valley Forum, and our own Facebook page. BREACHES OF RIGHT OF WAY OVER THE AVENUE The Town Council INATCI was notified of these breaches In 2021. The Trust obtained Designated Advisor Report and valuation, under Charity Act Section 119, as required, Meeting5 between the valuers of both partle5 took place durlng 2023. Whllst an agreement In principle was achieved between the Town Trust and the Town Council in early 2024, the Town Council has subsequently failed to action the agreement. The Town Trust continues to press the Town Council ta make progress to finali5e thi5 matter. ACKNOWLEDGMENT OF GRATITUDE The Trustees would like to thank.. All volunteer drlvers who gave their time in drivlng and organising trips for the M inibus, and especially Ken Coburn, Angela Lewis and Julie James who form the management committee. All volunteers who gave their time on Open Days at the Eel House, Medieval Bridge and Museum. Caroline Perry for allowing the public to view the Medieval Bridge from her garden, and who has donated the proceeds to the Eel House. 12
NEW ALRESFORD TOWN TRUST Nick Denbow for his help with the Alresford Museum together with Rich and Ann Pay. Donors, Grantees and others who gave monies to the Trust and are listed in Notes 9 and 11 to the Accounts. Peter Bridges who maintains and cuts the grass on The Avenue and also looks after the trees on The Avenue and Broad Street. V Andrews (Chair} 28 February 2025 13
NEW ALRESFORD TOWN TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 Notes 31 December 2024 31 December 2023 FIXED ASSETS Clock Old Minibus New Minibus Minibus Garage Fixtures & Fittings Investments- Propertv Heritage Assets Total Flxed Assets CURRENT ASSETS Cash at Bank Short Term Accounts COIF Charlty Fund Deposlt on new Minlbus Stock 3c Debtors & Prepayments 3b Total Current Assets LESS CURRENT Credltors and accruals Net Curreht Assets la&lf Ib 2437 7SO 25200 2977 803 250000 116301 3037 7SO 28800 3649 852 250000 116301 Id If 398468 403389 4798 91330 148119 8878 300 4201 257626 10340 61225 144846 300 3331 220042 1917 1050 255709 218992 NET ASSETS Represented by: UnrestrScted General Revaluation Reserves 654177 622381 81559 360722 79495 3S7449 442281 436944 Restrfcted Minibus Eel House Arthur Stowell Alresford Museum Emergencylcovid Sinking Fund/Avenue 140550 6489 2135 28362 3497 30863 114584 5528 3471 27667 3903 30284 211896 185437 654177 622381 R K Gentry V Andrews Ichairl 28 February 2025 14
NEW ALRESFORD TOWN TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2024 Notes GENERAL FUND Income Rent from Old Fire Station Market Tolls Fair Tolls Interest & Dividends Membership & Donations Avenue income 2654 7786 3515 2409 20 2830 li 19214 LESS: Expendlture Secretarial Costs & Expense5 Malntenance-The Avenue Advertisin8/Publicity Old Fire Station/Broad Street Insurance Book-keeping Sundry Expenses Depreciation on Clock 14681 1126121 16121 14671 115581 15001 13331 16001 If 1171SOI General Fund Net Income 2064 ARTHUR STOWELL FUND Income Interest & Dividends LE55: Expendlture Support to Sun Hill School Arthur Stowell Net Income 59 59 113951 113951 113361 EEL HOUSE FUND Income Open Days Gift Aid Interest & Dlvldends 783 251 177 io 1211 LESS: Expenditure Insurance/Expenses 12501 {2501 Eel House Net Income 961 15
NEW ALRESFORD TOWN TRUST Notes MINIBUS FUND Income Donations & Fares Operating Grant & Collectlons Interest & Dividends Gift Aid 9589 26460 3047 1338 io 40434 LESS: Expendlture Operating Expenses Depreciation 1101961 142721 le 1144681 Mlnlbus Net Income 25966 ALRESFORD MUSEUM FUND Income Open days sponsorship Gift Aid Interest & Dividends 1062 500 202 770 9b io 2534 LESS: Expendlture Expenses 118391 118391 Museum Net Income 695 SINKING FUND Income Interest & Dlvidends Slnklng Fund Net Income 579 579 579 HARDSHIPIEMERGENCY FUND Income Interest & Dividends LESS: Expendlture Paid out to support cases Hardshlp Fund Net Income 96 96 15021 15021 14061 TOTAL NEf INCOME ON ALL TRUST AcfiviTIES IN 2024 28523 16
NEW ALRESFORD TOWN TRUST NOTES TO THE ACCOUNT5 BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the Trust. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Ch3rities'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The accounts are prepared in sterling which is the funttlonal currency of the Trust and rounded to the nearest £1 Golng concern basks The Trustees consider that there are no material uncertainties about the Trust's abllity to continue as a going concern. The Trustees have given consideration to the Trust's long-term future and considered what risks (see the Trustees, Reportl could result in a situation where going concern basis was not appropriate. They believe that safeguards are sufficient to ensure that both In the short and medium term the assets and reputatlon of the Trust are suff iciently safeguarded to ensure that the Trust Is a viable going concern, Crltical accountlng ludgenjents and key soiirces of ostimatlon uiicertaliity Estimates and judgements are continually evaluated and are based on historical experience and other factors, includin8 expectations of future events that are believed to be reasonable under the circumstances, Key acLoiintlnR estfiniates The Trust makes estimates and assumptions concerning the future. The resulting accountin8 estimation wlll be unlikely to equal the related actual result. The Trust has not identified anv estlmates and assumptions that have a significant risk of causing a materlal adjustment to the carrylng amounts of assets and liabSllties wlthin the next financial year. Stock Stocks are valued at the lower of cost and net realisable value, after makln8 due allowance for obsolete and slow-movlng Items. Incon)e All incomlng resources are included in the Statement of Financial Activities under FRS102 when that receipt is probable, and the amount can be quantified with reasonable accuracy. Should any legacies be received, entitlement will be the earlier of the Trust being notified of an impending distribution or the legacy bein8 received. Gifts in kind, including donated professional services are recognised as income when the Trust has control over them, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of by the Trust if the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFR51021, 17
NEW ALRESFORD TOWN TRUST the general volunteered time is not recognised. On receipt. donated professional services are recognised on the basis of the value of the gift to the Trust which is the amount the Trust would have been willing to pay to obtain that Service on the open market. Gift5 in kind donated for distribution would be included at fair value upon recelpt under FRS102 Subject to the cost of recognition outweighing the benefit provided to the Trust. Any donated facilities would be included at the value to the Trust where this could be quantified, and a third party is bearing the cost. No amounts are included In the flnaneial statements for services donated by volunteers. Expei)ditui'e Liabilities are recognised as expenditure as 500n as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that 388regate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Tanglble flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, Clock - IO% straight line Old minibus - 25% reducing balance basis New minibus- 12.5% reducing balanee ba515 Garage extenslon - 20 years straight line Fixture & fittings- 25% reducing balance ba51S Governlnent grants Government grants in relatlon to tangible fixed asset are credited to the proflt and loss account over the useful Ilves of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the Statement of Flnancial Activlty. Herltage assets Herltage as5et5 are recogni5ed at their fair value if it can be determined reliably and at a cost ommensurate with the benefit obtained. Fuiid accountliig Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can only be used for particular restricted purposes within the objects of the Trust. Restrictions arise when specified by the donor or when funds are ralsed for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements 18
NEW ALRESFORD TOWN TRUST Governance costs Governance costs comprise all costs involving the public accountability of the Trust and its compliance with regulations and good practice. These costs include costs related to the independent examination, legal fees and apportionment of overheads. 11 FIXED ASSETS al CLOCK The clock was purchased and refurbished in 2014 at a cost of £2,911. A further refurbishment took place in 2022 at a cost of £3,030, making a total cost of £5,941. Depreciation for 2024 increased to £600 per annum. See Ilfl below. bl OLD MINIBUS Cost Including ref urblshment LESS.. Depreclatlon to date 1183 months) 59844 1590941 Net Book Value at 3111212024 750 Depreciation in 2024 was nll cl NEW MINIBUS Cost in Aprll 2017 58454 LESS., Depreciatlon to date192 months) 133254} Net Book Value at 3111212024 252Crf) Depreclation in 2024 was £3,600 dl GARAGE EXTENSION Cost In June 2009 including refurblshment 11883 LESS: Depreciation to date1193 months) 189061 Net Book Value at 31/12/2024 2977 Depreciation in 2024 was £672 The garage extension is being depreciated over 20 years. 19
NEW ALRESFORD TOWN TRUST el Depreciation charge for the year Old Minibus New Minibus Garage extension 3600 672 4272 fl FIXTURES/FirriNGS & CLOCK Net Book Value Depreciation in Year Clock Fixture Board Isee111 below) Fair signs Barrlers Isee121 below) 2437 235 117 451 3240 600 600 NOTE,, 11 The fixture board cost £623 in 2017 less £388 In donatlons have been received over years 2017-2023 from Robin Atkins. 21 Barriers. £100 fees received from Brocante markets have reduced net book value 21 OLD FIRE STATION Gordon Thoday, MNAEA, Director of Hellards valued the buildings at 54 Broad Street for the purposes ofthe accounts at £250,000 on 13 September 2022, The revaluatlon reserve on this valuation is £213,302 INote 61 al SHORT TERM ACCOUNT COIF Charitles Deposit Fund Instant Access Barclays Savlngs 71328 20002 91330 bl DEBTORS & PREPAYMENTS Oebtors Prepayments 4201 4201 CI STOCK Minibus booklets Bench parts 50 250 300 20
NEW ALRESFORD TOWN TRUST 41 COIF CHARITY FUNDS The Trust holds 7298 Income Units for the long term with a market value at 31 December 2024 of £148,119. The increase in value of £3,273 in the year has been credited to Revaluation Reserves, making the total unreali5ed gain of £31,119. (see Note 61 51 HERITAGE ASSETS al The Trust owns the rights to all income from the use (mainly Markets and Fairs) in Broad Street. The Trustee5 believe that this is an asset, whose value should be based on 10 tlmes income. The income from these rights in 2008 totalled £11,673,. there was some small costs involved in producing this income, The Income for 2024 was £11,301 and the Trustees have decided not to change the value in the 2024 accounts. The Trustee5 value this heritage asset at £116,300. bl The Trustee5 also own other herlta8e assets, whlch currently do not produce income namely:_ The ownership, Including the rlghts of way, of The Avenue to Drove Lane 99-year Lease on the Eel House. Ancient documents, Artefacts and Maces. Museum artefacts, fixtures and fitting5. The Trustees have valued these herltage assets at £1. 61 CAPITAL AND REVALUATION RESERVE The Reserve at 31 December 2024 is made up as follows: . Note Property COIF Heritage Assets 213302 31119 116301 360722 5a&b 21
NEW ALRESFORD TOWN TRUST 71 INTEREST AND DIVIDENDS Total interest and dividends receivable during the year was £7,137. This has been split/allocated on the basi5 of the average amounts held for each activity. General Fund Arthur Stowell Fund Minibus Fund Eel House Alresford Museum Slnking Fund Hardshlp Fund 2409 59 3047 177 770 579 96 7137 81 STATEMENT OF SEPARATE FUNDS FOR YEAR General Eel Fund House Mlnibus Fund Museum Fund Em'gcy Sinking Fund Fund Fund Total Opening Balance 79495 5528 3471 114584 27667 3903 30284 264932 Income 19214 Expenditure 17150 Net 2064 Closlng balance 1211 250 961 59 1395 113361 40434 14468 25966 2534 1839 695 96 502 1406} 579 64127 35604 28523 579 81559 6489 2135 140550 28362 3497 30863 293455 al OPERATING GRANTS MINIBUS COUNCILS141 Wlnchester City Councll Hampshire County Council Ropley Parlsh Council Bighton Parish Council 3000 2750 200 60 6010 ORGANISATIONS & INDIVIDUALS131 IPGL Ltd Richard Steel & Partners Sainsburys PIC 20000 250 200 20450 26460 22
NEW ALRESFORD TOWN TRUST bl MUSEUM SPONSORSHIP Hellards Estate Agents soo 500 26960 101 GIFT AID Minibus Fund Eel House Fund Friends of The Avenue Museum Fund 1338 251 233 202 2024 IIIAVENUE INCOME Friends of The Avenue lincludes Glft Ald} Sponsorship Hellards Estate Agents Sponsorshlp Charters Estate Agents Sponsorship C&D Trees Sponsorship Richard Steel Lease Payment 695 500 500 600 500 35 2830 23
NEW ALRESFORD TOWN TRUST RLSPONSIBILJTIES OF THE TRUSTEES 31 DECEMBER 2024 The Trust requires the Treasurer to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplu5 of the Trust for that period. In preparing those financial statements, the Treasurer on behalf of the Trust has.. Selected suitable account policies and applled them consistently Made judgments and estimates that are reasonable and prudent. Followed appllcable accounting standards, Prepared financial statements on a going concern basis. The Treasurer and Trustees are responsible for keeping proper accountin8 records whlch disclose with reasonable accuracy at any time the flnancial position of the Trust, the Trustees are also responsible for safeguarding the assets of the Trust, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 24
NEW ALRESFORD TOWN TRUST Independent Examlner's Report to the Trustees of The New Alresford Town Trust I report to the charity Trustees on my examination of the accounts of The New Alresford Town Trust I'the charity'l for the year ended 31 December 2024. ResponslbllStles and basls of report As Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the charity's accounts carried out under section 145 of the Art. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 14515llb} of the 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that In, anv material respect: accounting records were not kept In respect of the charlty as required by section 130 of the Charities Act; or the accounts dld not accord with those records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, vlew which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connectSon with the examination to which attention should be drawn In this report in order to enable a proper understanding of the accounts to be reached. Julie M Butler FCA Butler & Co Audit Limited Chartered Accountant5 and Registered Auditors The Old Stables Sutton Manor Farm Bishop's Sutton Alresford Hampshire S024 OAA 25