IIVO 11 1957 Annual Report and Accounts 2023
| CONTENTS | |
|---|---|
| Page | |
| Reference Information | 1 |
| Annual report of the Council | 3 |
| Independent Examiner's Report | 8 |
| Statement of fnancial activities | 9 |
| Balance Sheet | 10 |
| Notes forming part of the fnancial statements | 12 |
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 WN¢HesTER TRUST UMITED REPORT OF THE COUNCIL AND FINANCIAL STATEMEMfs FOR THE YEAFI ENDED 31 MARCH 2023 ReFeRENCE AND ADMINISTPATIVE INFORMATION R•918tered in Engl•Trd and Wales. numbor W609812 Regisl•r•d tfjth the Ch•rlty Commi55ion, Chwlty Number251798 OFFICERS ANO MEIIBERS OF COUNCIL PRESIDENT PrOle5)r Joy Cari8r CBE DL VICE PREsioeNT Anl(ry RN COUNCIL MEM8ERS CHAIRMAN K Learw RIBA. CE CHAIRMEN 14 card M8E AADY RIBA Ir•lTrJ as Chairnan 20231 l A D Patton. J Beveridge LLB. HONORARY TREASLIRER N W Gibl8 8A CPFA. OTHER COUNCIL MEM8ERS P DaTrAe5 MA M5 J Mwiin MS A M(wg3n R C H Morg4fvGiles MA J Slamiry 8A. COMPANY SECRETARY Memb¢r$ of the Financ 8nd RerCeS Crmmiltee indKated by an"
THE CITY OF WINCHESTER TRUST LIMtTED REPORT OF THE COUNCIL AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 COMPANY INFORMAnON REGISTERED OFFICE AND POSTAL ADDRESS 32 Ur Brc*)k Street Winchester HarDpshire $023 8DG INDEPENDENT exAMINERS Buller & Co Chartered Accountants Bennell House The Dean reslr HamDshire S024 96H BANKERS Bardays Bank Pl 50 Jeyéry streei Winchester Hampshire S023 8RG SOLICThORS Duiion Gr890ry 44 je Street Winthester Hampshire S023 8RY INVESTMENT MANAGERS RaihLy)nes Fiennes House 32 Soulhgale Street Winchester Hampshire $023 9EH Fiske PIC 100 Wo¢KJ Street Lond EC2V 7AN
THE CITY OF WINCHESTER TRUST LIMITED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2023 Anolh8r year has passed sin¢e my ksi Surnm of th8 activities we have been involved wrth or tommented Dn. Many ol these aclivities are repeals concEThing siles report8d on la51 y8ar and many years before 2022- they are of course.. 1. C&nlral Winchester Regenerabon Area (Sifver Hill) 2 Slalion Approach (Carfax and Cawe Market site51 3. Bushfield Camp 4. Sir John Moore Barrack5 5. Winchester Movement strategy 6 Former Leisure Centre al River Park 1.CÈnlr81 Winchester Re eneration AJea There is one p8rt 01 the central area Ihal 15 5epaiately owned and d8spile negotiations v4ilh Winche51er City Gouncil IWCCI 5ts11 remains 'ouisid& Ihe Cily Council's redeveloptnenl plans This $ the Sl Clernenls surgery ste which Is currently still in use but the surgery will be moving lo the sile of the fomier car park on the corne. of Upper Brook Street where d&velopmÈni has started leaving a redundanl building. In 8ntscipall of the move. a 5cherne for a hotel on this sile is likely lo be subm.tted for planning PEtrnission. We are concerned that Ihe scheme will be Consideied In isolation before d8ci&ons are made about Ihe deVelOPMent of the surrounding area. As on other siles. this 3fea of Winthesier Thas been the subject of 3 p.urnbeT of schemes which have failèd due lo over-pre55unsing the slatson sile. I fact. onginally IherE were two areas under consideration lh& Siabon Area known as Carfax and the Catue Market a8 ai the beginning of the Andover Road. ThÈ station area has been given the rnosl attention-wilh the Cattle Market a 9OOL1 deal less. ThE City Counal has restarted rhe development process and recently received a report by consullanls on the w3bility of various uses on both a8$. We under8lafjd that the adsaGent land owned by the railway companies is now 90ing to be exduded from the development plans. 3 8u5hfi Id Cam Sinc& the 1970's there have been vanous development proposals for Ihis site. ln the current local plan, Il Is allocatgd for employment use. Owned by the Church CoFnmissioners. th& land Is being consided for dev81opmenl In partnership with Legal and General and Gi8bornè. So far, the inforTnalion we have seen ai the vanous prÈsenlalions. apre8rs over ambilious and likely lo overwhelm. not only area Idenlif*é fordevelopmenl but much of Ihe r8St of 8ushfielLI Down as w&ll. The Twst has always seen this site as an important pad of the landscape setting ofWin¢hestBr, and we consider Ihe density of the buildings and the amount ol car parkin9 currently being proposed 18 likely lo destroy this part of the landscape setting and is Iherefore of gre81 concern. At Ihe lime of th15 rep(xt (July 20231, we undefstano at a scheme Is being subTnilled for planning applicatK)n in Septernber 2023_ 4 Sif John Muorè Barracks Approximately four years ago. we were infomi&l that the Ministry of Defence was going to di8P03e of thi5 Site and an oudine $Che was wepared fw discussions. Since this activity, We have hÈ8rd ntsihing more. 5. Winchester Movement Stral In 2019. Hampshire Cc4Jnty Council IHCCI and WCC pub115hed a rnovemenl slralegy for Winche51er. involving vehicl&s, Cyc5 and walking in and around the City but little has happened
CITY OF WINCHESTER TRUST LIMITED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2023 Iconlinuodl so lar. A nvrnber of optic$ have bo8n propose(I by consuliant5 but only limited proposals wara pU1shed lor consultation in 2022 and we awdit decisions on what will be done nexl. All thi5 18 disappointin9 tr)those whi %ant lo see a reduav)n in th8 amgunl oltraffi¢ in Central Wincheslar. In our 2022 annual r8POrt we referred to HCC c(ffisultLro thè public on a local new local transport plan, but nothing furthw ha5 been h8ard it since the consullatw)n finished. Forrner Leisure Centre at River P DEspile the legal covenani on this land. slating that it fcrf the use of Ihe cth.zens of WinGhe51er, the City CoLJncil has decided lo agree lo leas8 the disused building and its curtilage to Southampton University. This area berame the subject of a judKial review or9anised by resicjenls local lo the area. thoUgh we have not been involved in the rwew process. we did considef that it VAS an area Nnpwtant to Winchester 8ThJ that th8 r8wew 5uld Iherefore be supwrted. The current SrtUat is th&t the I11¢•81 vrds not succèssful. but an app831 has been submitted. Othw actmties Herilage Open Days- we a 5uppxtsng Herilage OFen Oays in earfy September by op8nin9 the Henlage Cenlr8 and disF4awng w art exhibbcffi by kjcal artts. At the tsrne of WTitsng this report. the event is 10 Corne. 50 rt 11 be inlEfesling lo see and hew what Wclion we receive. Design Codes we have recently been apwgathe(I by WCC lo nsler running a coding exercise. 'Coding is B Centr81 Government lniliab.ve and sèts out how to handle the future of an area in planning and financol lem)s. Winchesier can be divided into over twenty character araas SD such a study should certainly start as a pilol with one area. but lo be of any use, all area5 presLJmably have lo be embraced. A nutnber ol 8rchileclural practices and organ15aiions have offer8d their services if il is c(Sidered thai such an èxercise is worthwhile. We are very wary of taking Ihis on bmlhout the City Counc41 lakir4J an actsve role a5 11 Is a huge enterprise lor our limited resources even wrth the ol Winchèstar architects We are also concerned that there 15 fKJ planning ahead by WCC io iThJicale rt) the olher areas of Winthester would be tackled. Fulure Prooftn Icv Climate Cha We have wondered for a long time now now to advtye on Ihe nght way (o Insulale1151ed buiklings 8nd buildings within conservation aieas. It S8ems lo be a thomy problem as. r{ only can It b8 very expensivè, bul sorne ol the sclUtnS proposed are rt appropriale for histori¢ buildings. We are th8r8fore cc418boraling with WINACC and are prLV051ng to look Into the possibility ol providing Incremental prdctical advic8 on Ihg m051 effective way of prepariro a house to copg th global warrning. reducing cart>on emissions and reduung heating bills. Recrui1ml You will no doubt recrwise that the Twst has many challenge5 but we are very short ol 8xpertise and coukj do wrth a 901 deal rn(g hdp rf we we to be more effective. If any mombèr can help or has kn81$ge of sornee t*ho be wling to be invL4ved, please conlact Tessa at the Heritage Centre.
CITY OF WINCHESTER TRUST LIMITED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2023 Icontinuedl Thank ou A big thank you to those members who wllingty g1ve time an(J expertise lo the many areas of work In which we gel invDlved. without them. the Trust would not be very eftective in th8 work we undertake. We were very sad that Nick Gibbins is hang to resign as TaSurer - he has been a wise advisor on financial martels for the Trust and we shall certainly miss him We are fortunate that Nick's p05l has been Filled and we IcM)k forward lo working with Margaret Lancaster. who has agreed to take on this post. Membershi We are very pleased to have recrurted 7 new Members during th8 year taking the Trust'5 membership lo 492 at the year end. Plans for the future We wll engage in the consultstion on th8 n8xl stage of th8 City Council's local plan for the p8riod lo 2039. We plan to hold an exhibition of work by local artists as part of the Heritage Open Day5 programme in Septemb8r We will support proposals for the regeneration of Ihe Ceniral Aa based on the adopted SPD. We will consider whether to hold a Design Awards competition in 2024 or 2025 Public Benefit In selling objectives for the year. the Trusl Coun(xl h85 given eareful consideration to lh8 Charity Commission's general advice on public benefit and is mindful of the need lo report on how its aims have been achieved during the year. The Trust was founded in 1957 for the purpos&s and objec15 sel out later in this report. and continues to cary out rts work in semng the public interest. Governin Docurnenl The City of Winchester TnJ51 Ltd. (the TnJsll was founded in 1957 and incorporated as company limited by gLJarantee in 1958. A5 such it has no Share capital. The liability of individual members is Iitnited lo a sum not exceeding £10. It is govemed by Ils Memorandum and Articles of As8OCi8tion. whi¢h were lasl amended in 2000. The Trusl is regislered a5 Company number 00609812 and Charity Nurnber 251798. anisational Struclure The Council has responsibility for th8 management and control of the Trust. However certain finaricial furictions are delegated lo the Finance anJ Resources Committee and groups have been Sel up which report to Council lo deal with Management, Developrnent. Cornmunications and Membership issues. Coun1 member5 are elected for three years 31 the Annual Gener81 Meeting but may stand for r&election at the en¢J of their term. Council members act as trustees of Ihe chaKity and directors ol the company limiled by guar8nle8.
THE CITYOF WINCHESTER TRUST LIMED ANNUAL REPORT OF THE COUNCIL FOR THE YEAR ENDED 31 MARCH 2023 l¢ontlnuedl Theo ecis ol the Trust Th8 Trust's obiecls are fully described in the MemcwaThJwn of Associ8b"on. They can be summaTised as follows: To seek lo conserye the character ol crty ol Winthester and 115 5urroundrng ar88 ty. PTeservin9 and prote(XiThJ its IxJikl*ngs. spaces artefacts. Sponsoring 3n¢J encouraging new building, re¢evelopmenl. landscaping arld conservalion in accordance the highest architectural sl8ndards', Prornoling awaren858 of the above Inveslment The Investrnènl power5 01 th• Councal ar8 9Nen by the Memorandum and Articles of Association. The investmenl ofy'ectives of th6 Trust are tD weserve the Trust's assets to athow tho charity the ability lo finance rts actNibes both In the shcrt aThJ kngeT tenn. The Trust's pokcy is lo of baLgnc• ts investsn8nis in fin8nual instruments belween actwe and passive Inve51mpnt approach8s The 8cts.ve element C4ynprises Invesirnenls In mulli-as5el funds managed by an Inveslmenl manager while the passive elernent compnses investments In low- cost Exchange Traded Fur5, for whioh an Investment manager a5 as custodian. In addition, part of the Trusl's leasehdd wcwrty. the flals at 30 Upper Brook St. Js he for Investment purposes. Ihe r8ntal Income reprgsenbng the main element ol Ihe Twst's annual Income. The investm•nl 04"eclwe l¢¥ th¢ Trvst's investmonls in ffflancial w15trument5 15 lo achieve a b8lan¢e between catal gr0h to secure thtt Trust's longer-lem) objectsves and Incom8 generation lo provKl8 income, in addition to membership 5ubseriptions, to finance ils current Charitab activiU8S. The Trust's policy 15 to accepl a risk ol volatsltythln rts Wlvtrslment wrtfdio, both In terms of capital value and income generation. vthile aimv)g over tsme to achieve returns above the rate of Inflation. This pdicy has been adopted due to the lower relums currently available on Iow8r risk as39t clas5e5 and th8 Trust's capauly as a bng-terrn investor to ac¢epl temporary capital losses as a resutt of fluctuations in 8qUrty malkets. The Trust'5 inv&strnen15 are conlin&d lo listgd investments ol a crAlective nature. In lo a)ve diver5rflIIc. which r0dv$ the lisk of pemianent Caal 1055 arising frcffi the failure of a particular c(xnpany L¥ sector. rt Revalualion Poli The Trust adopt5 the policy ol revaluing Ils property every fNe y•ar5, comrngnciny 31 March 2003, so that Trust's property was last revalued 8131 Marth 2023. The annual accounts SlW th• assets aThl lbItieS attntrtrt8bkn to the futyjs by And which are approved by Ihe CIMJnc41. The Cwnol F4ans its expendrture wthin avaiLgWe resources whilst maintaining reserves gives the Trust flexitNlity to achieve ils aims lor thè lor85eeable ture.
THE CITY OF IIINCHESTER TRUST LAirrED ANNUAL REPORT OF THE COUKIL FOR YEAR ENDED 31 IAARCH 2023 Iconllnwd) Ma It is a requIrent ol cwy law ts the ID prepwe financial statwnts for exh acc¥)unting WKYJ. They must gr¥E a fw vw dthe stae of affaw5 ofthe Tmst and crf tht 8Lwrkn def•itfor that wbjd. C1 must". Make JtyJgs estimates that aThJ rna50nable'. Thtr Counryl v6 resp)nst for keerArg %nting records whith 3hwkd te abla to disclose at any tirTP finar131 pOs"0n of the Company a1 enable the Counul to ensure Complian the Ccnpanw Act 2fkn. The C(yJnrAI is ajso $%)nble for safeguarding Ihg a8sets oftheTntst and frKtakN¥J rea$Lep8 the aTrJ deteekn offraud and other finanaal iwlarits. 2011. nt Examir appjintrnent. Small Com This Report has in *ilh Ihè 3pe(3al FYOVISWS cl Pwt 15 of the Cornpanies Ac¢ 21 l8"[ya to Small cnig5. On tehalF ofthe CO K Leaman Chairman 5 July 2023
THE CITY OF WNCHESTER TRUST LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INDEPENDENT EXAMINERS. REPORT TO THE MEMBERS ON THE UNAUDITED FINANCIAL STATEMENTS OF THE CITYOF WINCHESTER TRUST LIMITED Independent examiner'5 report to the tru5t¢es of The Crty Cf Wln¢hester Trust Limited I r&port lo the charily trustees on tny examinalion ol the a¢xounts of The City of Winchester Trust Limited for the year ended 3151 March 2023. Réspective re5pon5ibilitie5 of Councll of Management and Examlners A5 th8 charity's trustees of the Cornpany are also the directors of the company for th8 purposes of company lawl. you are responsible for lh8 preparation of the accoun15 111 accordance with the requirements of the CcMnp8nies Act 20061-the 2006 Act"). Having satisfied myself thal the accounts of the Company are not requi to be audiled for thls year under Part 16 of th8 2006 Act and are eligible for independenl examination. I report in respect of my examination of your chanty'5 accounts as carried out under section 145 of the Charili8$ Act 2011 I'the 2011 Act"). In carryng out my examination. I have followed the Dire¢tions 9IV8n by the Charity Commissiofi (Urer Secti 145(51 Ibl ol the 2011 A¢1. Independent examiner's staternent I have completed my examinatTon. I confirm that no material matters have come to rny allenlion which give5 ME cause to bElieve thal.. 11 accounting recd$ w8r8 not kept in accL¥dance th 5eLon 386 of the Companies Act 2006., or 21 th8 accounts do not accord wth such record5". or 31 Ihe accounts do not cornply with relevant accounb.ng requirements under section 396 of the Compani85 Acl 2006 other than any requirement thai the ac¢ountS give a 'true and fair. wew which is not a rratter consiL1ered as part of an independent examination., or 41 the accoun15 have not been ppa in a¢rJydan¢e wth the Charities SORP IFRS1021. I have no ¢Dncems and have com& across no other matters in connection with the exarninalion lo which att8ntion should be drawn in this report in order to enab a proper understanding of the acLountS to be re8ched. 4...Ats !ilA)13 Mrs M Butler FGA Ilndependent Examiner) Date Butler & ¢0 Audlt Llmited Chartered Accountants and Registered Auditors Bennett House Th? Dean Alre5ford Hampshire S024 98H
THE CITY OF WNCHESTER TRUST LIMITED STATEMENT OF FINMCIALACTIVITIES FOR THE YEAR ENDED 31 hlARCH 2023 Llrbrestricted Funds Restrictpd FuTrds Total Funds 21123 Total Fuhds 2022 2023 2023 Incoffle from.. Other DoTralions (Note 21 8.728 910 753 25.247 8.726 910 753 25,517 8.542 1.009 2.000 25.767 Invesknieni income (Note Sl 270 Tolol Irh¢•m• 270 35.906 37,318 EMpwnditw* on l Note 81-. Raising fund$ 9,731 22,892 32 623 21 9,752 22,892 32,644 10.285 28,551 38.836 Total Exwnditurg 21 Gain OD revaluaiiDN of Property Nel Galn8llLo$8EsI on InvestmlASSe15 80.CX)O 80,000 13951 18,188 Nel MowmentJ In Fund 69.894 69.748 16.670 Recon¢ilia¢lon of funds.. Tolal funds brouphtf(wwwd ai 1 ApDI 2022 783.420 792,729 776.059 Total funds Earried fowward at 31 March 2023 853,314 9.163 862.477 792.729
THE CITY OF WINCHESTER TrUST LIMITED BALANCE SHEET AS AT 31 MARCH 2023 31 March 2023 31 March 2022 Notes Flxed assets Tangible assets Investments 575.517 234,179 809.696 496,678 247,511 744.189 10 Current asset5 Slocks Debtors Cash Dll deposit and al bank 11 12 461 288 3,939 49,434 53,661 50.780 59,018 Croditors 13 16.2371 Net current a55ets 52.781 862.477 48,540 792,729 NET ASSETS FUNDS Unrestric18d designated Unrestricted- undesignaleLI 14 14 800.512 52.802 734.880 48.540 853.314 9.163 862.477 783.420 9.309 792,729 Restrided 14 Total designated fund3 indude a property revaluatK)n r8serye of £397,41412022 £317.4141. The company Is entitled lo exewption frorn audit unLler sed1l 477 of the Cottipanles AGI 2006 for the year ended 31 March 2023. The Council has confirmed that no noli¢e has been dery)sited reouinng the ¢cAnpany lo obtain an audit of its financial siaiements forthe &earended 31 March 2023 in a¢¢ordanf* Vrith Section 476 of the CoTnpanies Act 2006. 10
l FRS 1021.
THE CITY OF WINCHESTER TRUST LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 1 NOTES TO THE ACCOUNTS-ACCOUNTING POLICIES The accounting policies adopted by the Trust are stsmman5ed below. The accounting policies have b8en applied consislenuy Ihroughoul the year 3nd the preceding year. a. Ba515 of Accountlng The financial slatements have been prepared under the historical cost convention as modified by Ihe Inclusion of fixed asset investments at market valu8, and in accordance with the Companies Act 2011 and the Charities Sialemenl of Recomrnended Praclice IFRS 1021. b. Fund accounting Unrestricted funds are avail8tAe f(x Use at th8 discretion ol the trustees in furtherance of the general objectives ol the charity. Designated fund5 are unrestricted fund5 earmarked by the Counul for particular purposes. Restnct8d fund5 are Subjected to restrictions on their 8XP8nditure Irnpo5ed by donors. The Aer Bequest restricted fund, both pital and Income is restricted lo expenditure on lh8 trusts archives. Incom Income is included in the stat8m8nt of financial activities when the charity is entitled to the income and the 3rnounl can be quantified wth reasonable accuracy. The following specific policie5 are applied lo particular categories of income Income from donation5 and legacies is received by way of donations. metnber5hip sub5cnplions and gifts and is included in full In the Staternent of Financial Activities when receivable. Donated serviTrs and facilit$ are Included al the value lo ihe charity where thi5 can be quantified. The value of services by vdunleers has not been includ8d in these accounts. Investment incorne is irmauded wh8n receivab. Grants, where entitlement is not condrtional on the delivery of sp8cific perftymance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Income from grants. where related to perf(xtnance and specrfic deliveratFles. are a¢¢ounted for as the ¢h8rity eams lh8 right lo ¢onsideration by its performance. d. expendlture Expenditure is recognised on arn accwal basis as 8 liability is incurred. Expenditur8 includ85 VAT which cannot be recovered, and 15 r8POrt8d as part of the expendiluTe to which it relates.. Expenditure on Raising Funds comprises the costs associated with atlr8Cting income from trading adivities and the rnanagetnent of the Trust's Investments. Expenditure on Charitable Activitie5 comprises those costs incurred by the charity In the delivery of Its activities and services for its beneficiaries. It includ85 boltt costs that Can be 8llocated dir8cUy to such activities and those costs ol an indir8cI nature necessary to supp(xt Ihern. M5D includeé are Governance costs induding those costs associaled with meeting the constitution31 and Statutory requirement5 of the charity. All costs are allocated between the expenditure categories of the Financial Stsletnents on a basis designed lo e¢l the use of the resource. Costs relating lo a particular activity have been allocated difecuy,. olhers awe apportioned on an appropriate ba51S.
THE CITY OF WINCHESTER TRUST LIMITED NOTESTOTHE ACCOLINTS FOR THE YEAR ENDED 31 MARCY 2023 1 NOTES TO THE ACCOLINTS. ACCOUNnNG POUCIES l¢ontlnu8d) e. Tanglble Flxed Ass•ts Individual assets costin9 £5 u mLYo are wila1¢5ed at cost. Oepre£xation is calculated lo wnte Ihe cost ol fixed assets io theff esbrnated $87 lue over (hr 8xpeded useful INes. Leasaldd yop8rty d•pre¢h31ed for the fce$e8able future on the basi5 the asset has a long useful 8conc¥nK hfe an(1 Is hdd p1WnlY lor tharty use. olh8r fixed 8¥8ets are deprerialed a reducing an( basis at 25% per annum. f_ St¢ck• StLKks YU8 at Ihe C0st rf r•able $. 13
THE crry OF IM14CHESTER TRUST LIMITED NOTES TO THE ACCOUNT5 FOR THE YEAR ENDED 31 MARCH 2023 31 March 2D23 31 Marrh 2022 2 OTHER DONAMONS Membe. Subscript¥ Donation5 7.031 6.833 319 1,390 ,542 Gfftthd 1,427 8,726 3 INCOME FROM CHARITABLE ACVITIEs Sale ol Ovm puolic3lion Donaliolls from walks 255 S55 910 490 1.009 4 INCOME FROM OTHER TRIA14G ACTIVrnES Sale of Cards Visits outings Inell 465 288 753 1.713 287 2,0110 S INVESThIENT INCOME Dlvidends aTrd interest linth(Jes £270 reslricted vwi12002-£24311 Rèntal Incotr 5.162 20.355 6.075 19.692 25.517 25.767 14
THE CtTY OF WNCHESTER TRUST UMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCN 2023 31 March 2023 31 March 2022 6 EXPENDITURE On Raltslng Funds Financi81 investmen15 Investrnent managernenl feesll dUdeS £21 frun restrict8d funds12022 £2211 Let property inveslmenls Letting fees Lei property reIrS Council tax D8pwialon Cosl of cards Support Cos15 (see Note 81 710 1.212 2.431 2.371 1.945 28 1.824 1.128 1,777 1.440 182 1.501 9.752 10.28S On ¢h•rltablo A¢Wvhlo¥ ProjeGI and Acliwlie5 EXllUre (see e 71 Cosl of own puYi¢alions Governance costs Accountancy Valuation Fee AGM and tneeling cosL% Annual Report Primbng & postage Support Cosis (see Note 81 3.734 79 4.458 197 1.530 1,320 441 469 15.319 1,440 403 626 21,427 22.892 28.551 During the period under review no remuneralion was paid to the trustees. Expenses to1811ing £668 12D22." £9681 has been reimbursed to Ihe trustees during the period under review.
THE crry OF VdlNCHESTER TRUST LIMITED NOTES TO THE AccoUrS FOR THE YEAR ENDED 31 MARCH 2023 31 Mar¢h 2023 31 Mar¢h 2022 7 PROJECTS AND ACTIVITrES EXPENDITURE Proled$ Licodcia siaiue Appeal Archives Roorn reorgan15abon I met fr(m restricted funds) 1,000 12 1,012 Activit185 TrustNews Clvic Voice- the national organisation Archive acquisition I mei from StriCted funds) Other civic 50cietie5 and environmentsl a$alk Friends of River Park appeal Trust's Heritage Open Day event Heritage and groth in Cath8dral Cilies event 1.924 2,550 50 126 1.000 250 100 3.734 4.458 16
THE CITY OF ¥MNCHESTER TRUST LIMITEO NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 SUPPORT COSTS BREAKDOWN BY ACTivrrY Support Costs Raising CharitaiAe Funds Total 2023 Basis of locab'on Total 2022 Secretarial staff cost 25VD of other support cos15 1,328 173 9.739 11.C67 1.266 1.438 12.008 2,799 12% Time Other support ¢05ts Cleaning Light.heat and water Insurance Business R81&8 Property Expenditure D8pr8ci2lion Telephonellntemet Admin. posiage,slationery Equipmentl Consumables Sundry Expen5e5 135 1.294 1,613 538 482 1,335 1,553 275 6,077 1B1 931 62 220 80 136 1,031 14 770 38 5.753 11.196 Remaining 75% of SUPForl C0515 4.315 4.315 8.397 Usage of HÈriiage Centre 100% Total Support Costs 1,501 15,319 16.820 23,204 25% of Support C051s are apportH)r4 in accordance wth the allOcaDn of direct secretarial costs, the remaining 75% solely to Charitable activibe5 refiecbr4g the use made of the Heritage Gent other than for secretarial purpos8S. 17
THE crry OF WINCHESTER TRUST MED 140TES TO THE ACCOiINT$ FOR THE YEAR ENDED 31 MARCH 2D23 g TANGIBLE FIXED ASSETS Leaseh Property Fixture fitt9 oiriry Equipmonl Total CDSt 8nd valuatlDn I At fj April 2022 Iv> 490.OQO 46.565 13,925 550.490 580 80.000 631.070 RevaIallon Al 31 March 2023 SO,OLYJ 570.000 47.145 13.925 D•pretlailon Al 1 April 2022 Charge for the year Al 31 March 2023 40.551 1.576 42.127 13.260 166 13.426 1,742 55.553 Ngt Book Valv• Al 31 March 2023 570.0( 5.018 499 576,517 Al Jt March 2022 490.000 6.014 496,678 L8aSehDk* prDperty induded alvaluatson have been induded a hi51Drical cost basis al 31 Mah 2023 with Cosl È172.586. Depveoakn to dale £42.343 and Net BoDk ve £130,243 The leasehold property vas revakned ai 31 2023 bycarter Jonas. surveyors and ¥aluers. 10 FIXED ASSET INVESTMEFirs 31 Nlarrh 2023 31 March 2022 Listed inypslmpnis Cash balances 232.752 1.427 234.179 246 489 1.022 247,$11 Listed Invvs¢Mpnt Mathei value at 1 April 2022 246.489 130 13531 It3.5141 232.752 227,780 96,194 195,6731 18,188 246,489 Oisposa15 Change m¥rk&i value Market value al 31 March 2023 H151oncal cost al 31 March 2023 212.386 212.433 18
THE crry OFWINCHESTER TRUST LIMED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 31 March 2023 31 March 2022 11 STOCKS Goods purchased for resale (Christmas tsrds. public2lionsl 461 288 12 DEBTORS Due thIn one year. Other debtors Pr8paym8nls 4.954 2.823 7,777 1.829 2.110 3.939 13 CREDITORS Due within one year.. Tr2dB cr&dilors AGGruals 6.237 6.237 5.121 5.121 14 ANALYSIS OF FUNDS Unresincted Fund5 Dgsignaled Funds Tangible Fixed Asse15 In¥eslmenls' Extraordinary repair fund Total D*signaied Funds 575.517 214.995 10.000 496.678 228.202 10,000 800.512 734,880 Undesignal8(l Funds R8stricled Fund Alder bÈquÈsi rè TnJ$iAtrchfv8s 52.802 48.540 9.163 862,477 9.309 792.729 'IncludÈd in unrestrided funds are invtssiments am(xJnting lo £33.73312022' £36,255) vA)ich are d85igna18d funds sel aside the pUrse of replaong the TrusV5 prerTrise5 on expiry of the lease. It 1$ the Tmsfs policy to hold th8 fund for the durab.on of the 99 year leas8. 15 COMMITMENTS FOR FUTURE EXPENDITURE Th8r8 were no m8t8ri81 commitments either at the beginning or at the end of the year. 19