IIVO 11 1957 Annual Report and Accounts 2021
| CONTENTS | |
|---|---|
| Page | |
| Reference Information | 1 |
| Annual report of the Council | 3 |
| Independent Examiner's Report | 9 |
| Statement of fnancial activities | 10 |
| Balance Sheet | 11 |
| Notes forming part of the fnancial statements | 13 |
Links with other organisations:
Corporate member of:
Civic Voice Hampshire Buildings Preservation Trust Hampshire Archives Trust Hampshire Gardens Trust CPRE Hampshire Branch
City of Winchester Trust Ltd
The Heritage Centre, 32 Upper Brook Street, Winchester SO23 8DG Telephone 01962 851664
E-mail: secretary@cityofwinchestertrust.co.uk Website: www.cityofwinchestertrust.co.uk
THE CITY OF IMNCHESTER TRUST UED REPORT OF THe ¢OUNelL ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2021 REFERENCE ANO ADIAINISTRATIVE INFORAIATION R•yl&i•rnd In Erffjland and Wale8. nwnber l)0609812 118g18tsred wlth the ¢harrty cl1100. Ch•rity Nymb•r 251798 OFFICERS AND ME¥BERS OF COUNCIL PRESIDENT Professor Joy CarterCBE t VICE PRESIDeNT$ Sw Donakl In531 CBE FSA RWA FRIBA FRTPI SP Di (Honsl CaOAntrrfry Sknnner RN COUNCIL MEMBERS ¢HAIRIAAN K Learnan RIBA" CE CHAIRIIEM Carden MBE AADP RIBA l A D Patton" HONORARY TREASURER N W fbtyns BACPFA. OTHER COLINCIL MEMBERS B Bmknian MA Mr5 S Carden BAlto 4 Fel1ry 20211 P Davwd MA Ms J Marbn KISC A Morgan R C H MOrgaTrGi5 MBA MA Mrs J M OBE J StannirvJ BA" Dr M E T1$ Pho BPhil Irelired September 20201 Ms S J Turner B ch Msc MRTPI Iretired OctotÉr 20201 COMPANY SE¢ReTARY Ms T M Roberts Bsc Memtrs of the Financ Rex*Jrce5 Crynrrmvee irKli(xted by an" Cnty1 members act as Trustees of the Charty and Threc1ry5 ofthe Crynpany Linited by Guaranlee
THE crry OF WINCHESTER TRUST UMtTED REPORT OF THE COUNCIL AND FINANCIAL STATeMENT$ FOR THE YEAR ENDED 31 IAARCH 2021 COAIPANY INFORIIAT1N REGISTERED OFFICE AND POSTALAODRESS 32 Upper p)k Street nchester Hampshi S023 8 INDEPENDENT EXAIAINERS lef & Co ALvJit Limited Chartered Accwrtsnts Registered drto 8ennett HOSe The Dean Alresford Hampshire S024 98H BANKERS Bardays Bank 50 Jvry Street Hampshire S3 8RG SOUCITORS [ttOn Ikegory 23 St PeleTS strtet nchesler Hampshire S023 8BT INVESTMENT IIANAGERS RalhbDnE5 Frtnes House 32 Soufyate SlrEet r¢hesier Hampshire S023 9EH
THE ciry OF %MNCHESTER TRUST uwfED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 IJAR¢H 2021 At our last ygarfs Zcw kt AGM Ieti in l>a(4)er 20201 tstt w? all h•J great that 2021 was likely lo retum to a more normal way ol lrfe tyjt It ha8 OlsIY not been tho cas•, ar trtre l am wondering lin ju 35 1 set (NJt this yearfl r•wtl rf thi5 year's AGM 1$ poMibly going to e1 up th8 S)0 way. De$F¥te the paThJemK the has t)een a good deal of movement on several fr(¥ and we have been asked to c¢ynmen¢ on all of them. There ha5 been 8wJnfftant 10 WOFos•J by Central Government in the form of 8 lthite PaFer concarnirrfj charvaes In the way In wch thal FdanniTrJ departrnents should operal• by streamliniThJ "1 d?lOn5 on nIng apF4KatKrn P•tsDJlarty re hw5ing estates ar• concemed. The paper. In ertjr hJ SLY imkxovement$, sorY quesnaNt one$ as ell as lathry imN)rtart (Wail. athow the Queen's Skwh kYOP)se8 lo Intro(luce legislation lmplemenb.rs the Vvhrte Paper later ths yew. do nfA knry•¥ kthat revtsvJro mvjfrt -2038 The timeta8 for the production of a new X41 F4an ha8 been ddayed by about 6 months becau ol di8tracthM ol govemmtrnt propolali to make radical thaNJe$ lo the planning system on vthKh a kxjblic (a)nsuWab"on wa8 l•unthd in the summer of 2020. Thr4 9gnerated huge put41¢ respon8e of over40,(MXJ cornmerrts incknJirvJ one from the Trust but w• hava h•ard nothing about Go¥emment rea(thn to vhat was sahl by respoThJents. Woth ¢)n local lan rtstart ai the erKI ol F• this yearwith Crty CfAKKiI wblkhing a docwnert ts wbli¢ over 8 This asknj howthe K)¢al pi•n $houhl addres$ Ihe rnajor issues f¥irg fwr distnd over the rext 15 yews. Thi8 on 12. Awl and * the the Trust Thè ttmotsble forthe next steps th• loe41 (Ian set out irn a ieport to a Cty Ceunul eaknnet meeting In Juty. Thereafter ean exre¢i the Crty Counol to wlSh draft ol an actu81 plan Icalled in the jargon a RegulalKJn 18 FTh SubMn draft kyal an) knich could be in the autumn or ¢)ver the nter 012021122 Wg wrtic4pe dimats change ill b• • t3 i58ue 11 influenc• mBrry developrnent policies. HouwThJ numÈer5 knCated to the ester 'str1 and rnore particularfy lo the city it5ell arn still awarted. An wtp)sal li¥ a i•J irwease frcrtn tl usrent annual rate was annual rate ofaroml Lxrt thi> may ¢haryJe We are very gratefvl for al tho8¢ hm trthrted to tdh re•F15 durirvJ this year whth needed a IDt Lrfwk. or ttevelo rnent s l am certain that everybo w well aware of 41 ts mw sites in and •round Wn¢hester. hfM¥er we list these andthen Mment the ¢urrent situatK)n asfollcM8'. 1. Central area Isfver HIH) 2. Stati¢ Approach 3. &'r John Moore BkS 4. Bushfield Camp
THE crry OF WINCHESTER TRUST LIMITED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2021 lcontfinue(11 1.Central Area JTP was employed to undertake an urban deSn framework plan for th15 area. After extensive collat)oration took 8¢e wrth the communrty, a very acceptabk plan was prodUd which was adopted by the Cty Counal on June 2018 as a SuOementary Planning Document ISPDI. Subsequent to this, the Courril appear lo have mised the asFMrations for th15 Slte by promoting a long- tem interim development PTOPX)sal amounting to keepiro Kiros Walk. spending £4.5m on upgrading It to 'meanwhik' uses. keeping Coittxjry House and tting rt OLrt as a hostel. removing the NHS offir£ building. aViNg the doctors. sur9ery and the wool warehouse Jildings, some housing, In fact undertaking the rninimum possible for the foreseeable ILrture. This is a very disappointin9 Outcome to the Cty c11,$ latest deliberations for this site. 2. Station Apyoach Apparentty, there are rrenY no plan5 forthis srtevknith has pLa on the'back bumerf. However, John Heam plus his team ol archrtects and annerS have been considenng an outline brief describing the 5cal8 of the buildings. thè possible Wan aa that coukl be covered together Wbth vehicle and pedestrian movement around the site. John Heam has been comrnunicating with councillors and local authorty officars. 3. Sir John Moore Barracks The Ministry of Defence are relinquishing these barracks and have appointed planniry consuttants to Suggest proposals dL8cussion wf(h a wew to making a planning application. Richard Baker has commented on our beha. In general, the proposals are promoting housing over part of the site, hover a good proport ofthis area is beiTrJ left as woodland and'green. space. 4. Bushfiold Camp The ujrrent local plan identffied part of the trABI area of BuSe1d for Iht inilustrial use. There have been several efforts over the year5 to w0nte Kleas for Bushfield. trt these efforts have never reached any conclusion. Recenuy. Bo Priestly has produced a 5eriou5 paper promoting Its use as a wildlife corridor this parer has teen prepared wth the encouragement ol the Hampshire and Isle of Wght Widirfe T¥usL as well as guidance from Central Government directives. 5.River Park Leisure Centre and North wal Park A scheme lor refuthshiTrJ North Walls Park has recentty téèn issued by the City Council for discussion purposes The fonner recth"On centre rtselfwas not induded even though It sits on tha edge of the park. We have commenled on a nUrnr of issues conMIng this park and these statements are on our web5rte.
THE CITY OF WINCHESTER TRUST UMThED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2021 I¢)ntInl hWn We are aware thal deVelor$ ar• erested In to de¥ek)p we•8 Styjth and south-wtrst of Winchest6f. As far a¥ wp know is no irtention or requIrent by nchester Crty Council lo Oentfy land forfurtl)èr in direction. We have (X)n to tl k¢01 aulhority iThJicaling our wnrAm¥. irrtemal Fntly. we all very sad that Cth earfr year. She mad• a huge contributson to the Trust. induding reoryJani&rKJ th• most irnpjrtant ernent of the Trust's work, the Planning Advisory Group IPAGI. wtbrg rt a fim footing whth w¢ has been r&Scted by the City Council's F4anning departm•nt. Wg are rtaInty goiTrJ lo miss her once we slart me8ts'w a9ain face to lac•. I shcAJld like to thank Rthard 8akr John Heam tr all the %yk they ¢Jo for th• Tru8t and of ccxjrse th•y are paThaAarly mnprrt planning mau5 Wrned. $0. many thanks to John 8everKJge who has been a of strer1 as VKe Chaiman- I could not wrthout him, e8peaally 0r th yew. MY thanks aLw to Astr M(xyan for •ll hi suprt. 1Ndc{e to Graeme steVwAc, whD ha5 agreed to tske on the Chaimanship of PAG for whth we are very gratefvl. (knne wrns ¥(rtect runrAt¥J hty wi pre so is well v•r58d in plannirvJ matters. Both Richard Anderson and Barriè Bn"nknian ho been tffojressing wrth the Wan¥)n of Ihe archTv•s. Barrie ha¥ addeij materials to Ihts archwe section ol the Trust'8 websrte. Nith Gitts"ns. V I 5je1 has Ihe thenvth pb of LganIsI the Trust'8 finanCS has On again uThJertaken stsrfirg work xc(xmts. Nick has been helwd wrth Irom Rodnoy Morgan-Giles on IrbveStsents. To bcth. a trfg vote cl thkS Fina#y, T•ssa A0rtsOn who has been th'main st¥ ofthts tr9tK)n. parti¢JHarfy dunno thi¥ Co¥KI [clI. We arn all most grat•lul to her for her 8teady contribution. We are very pleased to how recsuitwj 19 Ilx yeartskiw¥J Trust's m?mt¢r8hip to 506 at the year •nd. W• 11 eThJag8 in c(Thulabon on first draft of Ihe Cty Council's local plan lor the pefi¢xl to 2038 We will respond to the kXOFKats in the FlanniTha &"Il when are pushed. We wll supporl prowjsats ft>r the of the Central Area bÈsed on the adopted SPO. Subject to progress in the lrftr'ng of COMD $trictiOns. hope to tL¥e a limited walks prLyramme fof members this summer e cMsAl•nThJ to IK4J • Desyn Award ¢¢Xnpetitn in 2022
THE CITY OF IhlMCHESTER TRUST UMITEO ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 IAARCH 2021 Icontlnu•d} In setbng Objectiv forthe year. TrLks1 Cour7 has gwen carèfrjl consKleration to th8 Charity Comrnission's goneral advice on W1¢ benefit and * mindful of the need to report on how it¥ airns have t)een achieved during th• y•ar. The Trust was in 1957 forthe purposes and objects set tyJt later in this report. WKI continues lo carry out rts ¥wk servin9 Ihè put4ic intsre$L The Cty of Winchester Tnjst Ltd. lthe Tr1) was lound&l in 1957 and incowat•d 8$ eompany limited by guarantoe in 1958. As such rt has no share caprtal. The liability ol in¢lividual members is limited to a sum noi exedIr9 £10. 11 bs g)vemed by it¥ MèmoraTrJurn AJlide5 of Association. which were last ametNled w) 2(th. The TrLLSt 15 as Company number 00609812 aj Chwty Numtw 251798. nisabonal The Council has reSpsIbIlitY for the management and corrtrd of the Tt. Howev?r rxrtoin financial function$ arè delegat•d to tr Fjnance ar Resou Cthmmittee aThJ groups have been set up which rept to Councal lo de4 Man•Jemerrt. DevdgFffièrrt. Communicabons and M8mtsership Iy¢s. Councl memb&s are ekndéd lor three ytsar8 at the AnnLsal General Pleeting txjt may staThJ for r&eknlM at the eThY of their term. CouncAI membef8 act as trustees of the charity and dItry$ of ccrfnpany limrt•d by guarantee mmon8ed &8 f01b4.. To Beek to conserve the charathr of th? Crty of Ihlndst•r ts $wrwnding ar•a by.. Preserying and prote('rs rts bJibJirg5. spx•¥ artets(ts'. SpMsonry e7Ur311¥a w bJldiTrJ. f•deve10Kel. LandsCaThJ and conser¥atw in ac4>)rdance wchitectural standard$', Promob"ng •wor•r*s5 ofth• ato¥e
THE CITY OF MNCHESTER TRUST UED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 IIARCH 2021 {continuedl estment Ob ectives pryer5 aw¥J Poliues The Investment powefs of the Counol are gNen by the Memorandum and Artic$ of Association. Tha investrnent objectNe$ ofthe Twst are to pseThe thè Trust's to allow the charity the abilrty to finan its activrties both in the short and longer temi. The Trust's policy Is to of balance rts inve¥trnents in financAal instruments LEtween active and passive investmenl approache$. The aclive element comprises a portfolio managed on a discretionary basis by an Investrnent managerwhile the passive element comprises snve5tment5 in low- cost Exchange Traded Funds. for which Trust's investrnent manager acts as custodian. In addrtion. part of the Trust's leasehold property, the flats at 30 Upper Brook St. is held for investment purrx)ses. the ntaI rncLvnè repTesentirg the main ement of the Trust's annual Income. The investment tsbiectNe for the Trust's invesbnents in financial instruments is to achieve a balance bets¥een capital growth to secLtre the Trust's loroer-temi objectives and income generation tts provid8 irOrne. in addrtn to mnberShiP sut>scription5, to finance it3 Current Charitab activrties. The Trust's pdicy is to a¢pt a hTrJh risk of volatility within its investment portfolio. both in tèrms of capital value and income generation, while aiming overtime to achieve returns above the rate of inflation This policy has been adopted due tr) the lower fetums currenuy available on lower risk a55et Glasses aThY the Trust's capaoty as a bng-term investor to a¢pt temporary capital losses as a resum of fluctuations in equrty markets. The Trust's investrn8nts are confined to listed investments of a collectNe nature, In order tts achieve dWers1fitI0n. which reduces the nsk of permanent capital loss an51ng frcth the failure of a parts"uJlar company or sector. Pro Revaluation Poli The Trust atyopts the policy ol ravuing ts kyoterty evwy five years, commenciThJ 31 March 2LX)3, $0 that Trust's prorty was last revalued at 31 March 2018. Reserves Pdic The annual accounts show the assets and h'at¥lths attn"bLrtable tts the ftJThls by type and which are approved by the Council. The Counal plans rts expenditure wthin available $oUrS whi15t maintaining reservès which gi¥es Trust Ilexitslty to ad)ve rts a1rn5 for the foreseeable fLrture Risk Mana ement The cOnl has reviewed the major risks tts which the Tnt5t is exposed, as Identthed by the Council. an¢J is Satisf that 8yStems and FAanned action5 are in Pla to Mgate those risks.
THE CITI OF WINCHESTER TRiIST UHED ANNUAL REPORT OF ThÉ C(XINCIL FOR THE YEAR ENDED 31 IAARCH 2021 Cthjnul Res It is a requiren%nt of company lv fc the to alemenls fGf each accounb.rvj p8rKpJ. They rrmmt 9T a InE WKI (rfthe state ofaffairs oftr Tr1 and of the surF4LLS or defiat fcthat F. disdose at any time the C(xrtrony and enat the Counul to ensu other finanoal irwuLarilies. 2011. Itwje dent Exami¢)ers Small Com K Leaman Chaimian 28 Jun& 2021
THE CITY OF NcHESTER TRUST UMtTED FINANCLIL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 INDEPENDENT EXAMINERS. REPORT TO THE MEMBERS ON THE UNAUDITED FINAN¢iAL STATEMENTS OF THE CITY OF WINCHESTER TRUST UAIITED I report on the axoLwts olthe Tntst Ihe year eTrJed 31# Marth 2021. bich are set on pages 1010 20 Respective respDn5ibllittes of Councll of IAanagErnerrt aTKI ExaMir As desrrrited on page 8 the Counc4 Membws also as trustees for the charity) a respons1te forlhe preparabonolthe aux)unts. atwjtheyc0ide[fhatan aL¥Iit is not required for this year (under 144 01 ts C8$ kl 20711 and that an independent exafflinatKJn is needed. H3ving sfied myself that th2 chatity iq not Subject to audit under ry)mpany law and Is eligible for Independent examinabon. rt Is my res4011 to. Examine the accourrts (under 145 of the Charit5 AL 20111". To follow the procedures laK1 dwi in Ihe general direcbons gNen by the chaTity comtnissionets (under seLton 145($1(bl of charl Ac 20111,. To stste %vhelher partkxjw matter5 have rA)me to rny tenbon. Basis of independent exarnins rewt My examin1 was Camed ¢t in ac¢crfd with ts Gerw81 "rOn$ gwen by the Charity Cnms1oner5. An exarninatK mdudes a reeW of the accDuntirvJ COrdS kept by the charity and a comparison of the acco¢Jnls presented with Ihose records It also inde5 consideration of any uThJsual item5 or disdosures in the accounts, and the 5eekiru of explanaiions from membets concemiry )y such matters. The kYocedJs undertaken do not wovKle all ewKlence that woukl be required fv an audit. and consequently. no opinion is given as te whether the accoJnts a Ins8 and fairww. and the response is limited tothat rnatter set out in the stateme Indepfrndent ¢¥4mineP¥ statement In connechi)n th my examinabDn. no rrwtterhas (me to my attention" IIVhK gwe8 Sor$81e cause to that. fft any material respect . the requrements lal To keep ac£tyJntw reccfds in xtJxdanc8 8130 of Ihe comp5 Act 20(,. Ibl To prepwe accourt8 xctird ac£ountiry re¢crts and lo GrffiFly wth the 3cfA)untirvJ requiremerts of the Compans Act 2(Th have not been m81,. or To which. in my opnim, attenDon th)ukJ te drawn In ortsr lo enaNe a prorer und¥5tandiro ofthe arGrAJnts to be rea(Ed. 1i1.08.1.Li JMBLWF Dato Bu Co Audlt Lknlted Chartered Accountants and R8g68t8rnd Audlto Bennett House The Dean Alresford HamhIr0 S024 98H
THE crry 0FNcHESTER TRUST UmED STATEMEKf OF FINANCIAL ACTMTIES FOR THE YEAR ENDEO 31 RCH 2021 T¢)tal Furbds 2021 Total Fund¥ 2020 Funds 2021 Funds 2021 Incom8 fyom: Other Donations INete 21 Charilable ActNrties (Note 31 Othertrading actwiti85 (Note 41 Invesknent Income (Note 51 8,804 3,258 307 25.360 8,755 6,551 1,900 23,968 3.258 307 25.155 205 Total Incorne 37.524 205 37.729 41,174 Expenditure on l N*)te 61: Ra9 funds Cfvantab AcINit$ Total Exptrndlturo 7.682 25.805 33.487 9.458 32.806 42.264 22.529 30,211 3.276 3.276 Nel GainsllLossesl on Investment Assets 47.7(M) 1.867 49,587 133.1731 Net Movements In Funds 55.013 11.1841 53.829 134.2631 RencIlIatOOn of funds: Totsl funds brought foThvard al 1 Apnl 2020 711. 10268 722,230 756.493 Total funds carrfad foNArd at 31 Marth 2021 766.975 776,059 722.230 10
THE Ctry OF NcHEsTER TRLBT UMITED BALANCE SHEET A8 AT 31 MARCH 2021 31 March 2021 31 March 2020 Flx•d assets T?ngitJe assets Investments 498.105 230.269 n8.374 500,807 184,779 685,586 10 Curr•nt ets st¢eks Debtors Ca8h on dew6tt 8NI at bank 11 12 3.567 51.193 55,149 6,829 36,092 43.869 Cr•dliorn 13 .225 N•t Current 4ss•ts 47.685 776,(9 NET ASSETS 722.230 FUNDS Unre51rictI. desgnaied Unrestricted - undesynabj 14 14 719.Xl 47.685 678.7 33,172 766.975 9.084 776.059 711.962 10,268 722,230 Restricted 14 Totd des[t•S rthjde a I•MClE317.414{2O2o.. £317,414) The company 15 entit to exempkn from aLJit urthr 477 of the Companies Aet 20CI8 the year ended 31 March 2021. Tho h8s confimwd that Trj rKrfke has ten ¢J•F¥xhed th8 cY)mpany lo c4)la an audrt of rts fina?1 st*Thents the ttled 31 Marrh 2021 in X¢Lxttae with Sttlh?n 476 01 th• COMpanS Ad 2Cth.
ASAT 31114RCH W21 l FRS 1021. 28 ju 2021 28 Jw2021
THE CITY OF IWNCHESTER TRUST UIAITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENOEO 31 MARCH 2021
I NOTES TO THE ACCOUNTS - ACcOuNNG POLICIES
The accounting poliaes adopted by the Trust are surnmari5ed tdow. The acc¥Junting wlicies
have been apEd con5iStenUy tsw0Ught year aThJ the FYe¢ediThJ ye¥.
a Basls of A¢¢ounting
The finanual statements have teen Wepad un(rthe cost conveniion as
modifd by the indu$ion tsf frAed asset inveslrnents at market value. and in a¢¢ordan¢e
with the Companies Act 2011 and the Chanties Ststement of Re¢(¥nmended Practice
IFRS 1021
t). Fund accounting
Unrestncted funds are available for use althe di5¢rebon of the tnJstee$ In furtheran of
the general obJeLves of ihe charity. Designated fund$ ate unre5tricled fund5 earrnarked
by the Council for parti¢ylar purtx)5e5 Re5tncted funds are subJ"ected to restridions on
their exwdrture irnpcsed by donrxs. The Alder Bequest $trled lund, both capital and
incorne k5 restricted lo expenditure on the tru5t5 archiwe5.
Incorne
Income is indudEd In the statement of financ4al activi$ Ihe dwrity is enlitW lo t
incorne and the amount can be quantifie<l Sonable accuracy. Tr following specffi¢
licie$ are applie( to particular categories of income
Income from donations arKI legacies 15 recaved by way of donations.
membership sub5CriPtws and grfts is In¢[ in full in the Statement of
Finanal ActNth Wft reitNatAe.
Donated SeTvices arKI flIrtIeS we induded at the value to Charity Whe this
can be quantifd. The value of ser¥Kts by volurrteer5 has not teen induded in
these a(nts.
Investment IrKome is induded vthen receivable
Grants. vthere enti15ement ts not (x)tKlrtional on the delivery of Specific
perfomian¢e by the tharty. a recognised vthen the ¢harty becorne5
uncondrtionally entrtled to the grant. Income from grants, where related to
perfomiante ar 5peufK des1verae$. are ac
THÉ CITY OF TMNCHESTER TRUST UED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2021 1 NOTES TO THE ACCOUNTS- ACCOUNTING POUCIES Icontlnuedl e. Tangible Fixed Assets Indwidual assets cosknng £51Y) or MO arp raprtalised at cost Depreoation is calculated lo write down the cost of fixed assets lo th•r estimated residual valije over thèir expected useful lives. Leasehold sxoperty s not depretiaied forthe ffftseeable fulure on the ba51S the asset ha$ a long useful econornic lrfe and is hekl primarily for chanty w. All other frxed assets are depreaated on a reduong tsalat basi$ at 25% per onnum. f sio¢ks Stocks are valued at the luwer of g)st arnl net LsatAe value.
THE crry OF NcHEsTER TRUST LIMITEO NOTES TO THE A¢¢OUNTS FOR THE YEAR ENDED 31 MARCH 2021 31 March 2021 31 March 202 2 OTNER DONAnONS M8mber$' subscriplK)n5 Donations Gift 6.679 610 1,515 8,804 807 1.304 8.755 3 INCOME FROM CHARITABLE ACTMnES Sale of (A¥n publi(tions Donat5 from walks Heritage Op2n Weekend-2019 Herrtage Oppn Weekend-2020 282 649 892 5,010 2.976 3.2S8 6,551 4 INCOME FROM OTHER TRADING ACTivrnEs Sale of Cards Visits and outings (neil Car 8r•)t sa 307 1.287 703 90 1.900 307 S INVESTMENT INCOME Dividends and interest lindudes £205 re5triLknJ wKti)12020- £43411 R8ntal Inco* 5.603 19.757 7.073 16,895 25.3eo 23,968
THE CITY OF WINCHESTER TRUST UMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 31 March 2021 31 MarGh 2020 6 EXPENDITURE On Raislng Fut)ds Financial Investments Invesknent management fees l indwles£21 restrtied funds) Let property inveslments Leiiin9 fees L prOrty reIrS Counol lax Depreciation Cost of car(ts Suprx)rt Costs15ee We 81 1.047 1.174 2.136 6T1 2.399 1,261 433 1.522 893 1.776 2.432 192 7.662 9,458 On Charfiabl6 A¢thfKfje8 Prqect and ALnIe3 Expenditurt1868 Nrrte 7) Cosi of w pubbratn$ Govamarpce costs A¢n18n¢Y AGM and meeting costs Annual ReyJrt pnntir#J & p051age Support Costs188e Note 81 12.510 10.210 575 1.HO 101 541 10,846 1.440 225 450 19.9(6 25.eos 32.8C6 Dunng the perK under revw no remunet¢)n w8s pavj lothe tsiJstee5 ExpeTrse$ totalling £1,222 I220.. £1.8651 bas been reThr5ed 10 the trusts duriw the F4ncY under re¥. 16
THE cl OF WINCHESTER TRUST LIIWTED NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO 31 IMRCH xI21 31 IAar¢h 2021 31 Mar¢h 2020 7 PROJECTS AND ACTMTIES EXPENtXWRe Prolocts VL8V)n docurnent Arch1 Rrn reoryanlsatth I metfrun lurntsl 2.719 2.719 Acllt4ltle8 TnJstNewg 2.184 1,930 other arvj enwronmenlal statKJn Approach legal a¢ Hentage Open WeekeTr -2019 pr¢yr8mme -2020 proaramrne 126 171 2.6$7 4.555 128 fj.451 537 12.510 10.210
THE CITY OF WINCHESTER TRUST UMITED NOTES TO ThE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2021 8 SUPPORT COSTS BREAKDOWN BY ACTMTY Support Costs Rai5iry Chaiitab Furxts Total 2021 asis of AJkatK)n Total 2020 Secretsrial slaff cost 25.kn of other support C05t5 857 6.282 1,035 7.139 1.176 12,510 2,293 12% rime Olher sUprt costs Cning Light,heat and Ydter Insurance Businèss Rates Property Expenditure DepreciatK)n TelephelInternet PUblty Admin. posl•Je.statb)nery Equipmenv csumab Sundry Exrenses 583 976 1.517 775 1.205 1.505 1.058 1.612 322 1.072 180 397 1.025 21 311 241 81 4.705 9.172 Remaining 75% of supp)rt costs 3.529 3,529 6.879 Usage of Heritage Centre Total Support Costs 10.846 11.844 21.682 25% of SupkK)rt Costs a aprNJrb'oned in CordanCe wlh the alkthton of di¢¢ Se¢tsna1 ¢osts, Ihe MainIng 75% solety to charitati refixtiry Ihe use made of the Heritaje Centre other Ihan for secretari?1 purposes. 18
THE crry OF WINCHESTER TRLIST LthiifED NOTES TO THE ACCOUFITS FOR THE YEAR ENDED 31 IAARCH 2021 g TANGIBLE FIXED ASSETS Fixiur PYop• Total eostand ¥al¢ullon Al 1 April 2020 Addthns At 31 March 2021 49).(O) 13.126 549.691 49).rixi 13.126 549.691 opprecOn At 1 Apnl 2020 Charge lor the )sr At31 Marth 2W21 1fj.873 2.673 13.011 29 13.040 2.702 51.586 Net Book Value At31 MarL 2021 490.(¥XI 8,019 498.105 Al 31 2020 4.< 10.6W2 115 &XJ.807 Leasehokl ithJOed al YtiOnk1 he been inrthJed fyi a listutsl costbasi$ at 31 2021 knilh C05t£172.586. 104Y8te£38.657 Nol Value £133.729. Tht th5ehdd WDptywas revaw ot31 kl8rth 2018 tryCartwJThws. Suyl¥s and valuer5 10 FIXED ASSET INVESTMEPITS 31 IAw¢h 2021 31 rtfv 2020 sted InvesrdS Cash Wances 227. 2.489 170,4(hS 14.373 184,779 L65ted InvosDn•nts Mathei value at 1 April 2020 Addrtions OIsp)5al$ Change in market Maiket value at31 Marth 2021 170. 16.871 (9.W} 49.587 227.780 211.851 18.272} 33.173 170.4C HistOliGal CAlSt al 31 March 2ff21 1,245 184.174 19
THE crry OF VIINCHESTER TRUST UMITED NOTES TO ThE ACCOUNTS FOR THE YEAR eNDE0 31 MARCH 2021 31 March 2021 31 Mah 2020 11 sfocKS ((xJs purchased for re5a IChristtna5 rds. notecards. W8t$) 389 12 DEBTORS Due within one year Other debtors Prepayments 1.584 1.983 3.7 3.7e6 3.063 6,829 13 CREDITORS Duè within one year. Traye cre¢ltor Accruals 7,225 7,225 14 ANALYSIS OF FUNDS Unre5tncled Funds De51gnaled Funds Tangib Fixeil Assets Investments" Extraordinary repair fund Heritage OpEn Oay5 Total Desunated Funds 490.105 211.185 10.(KK) 9)0,807 164,511 10.tK)o 3.472 719.290 678.790 UndesvJnat8d Funds Restricted Fund Ader bequest re TrUStAhNeS 47.685 33.172 10,268 722.230 778.059 'Included in unreskncled funds are in¥sbnents to £31.65012020." £23.5491 which are designated funds set ashJe for Ihe purpose of repkn'ry the Trusfs premise5 on expiry of as8. It Is the TtUs15 poIKy to hokl the fund for the dur8b)n of the 99 y&3r aSe. 15 COMMITMENTS FOR FUTURE EXPENDITURE There were no material coMMnts erfher at the bgjinnw LY at the end oflhe r. 20