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 t*fjth 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 Gibl￿8 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 Re￿rCeS 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 U￿r 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 a￿8 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 a￿8$. 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 conside￿d 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 $Ch￿e 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, Cyc￿5 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
pU￿1shed 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 5￿uld Iherefore be
supwrted.
The current SrtUat￿ is th&t the I￿11¢•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 art￿ts. 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 ￿ns￿ler 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 sclUt￿nS proposed are r￿t 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.
Recrui1m￿l
You will no doubt recrwise that the Twst has many challenge5 but we are very short ol
8xpertise and coukj do wrth a 9￿01 deal rn(*g hdp rf we we to be more effective. If any mombèr
can help or has kn￿81$ge of sorne￿e 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 ha￿ng to resign as T￿aSurer - 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 A￿a 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. Coun￿1 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 LIM￿ED
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 Fur￿5, for whioh an Investment manager a￿5 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 ca￿tal gr0￿h 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 volatslty￿thln 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 diver5rfl￿IIc￿. which r0dv￿$ the lisk of
pemianent Ca￿al 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 Sl￿W th• assets aThl l￿bI￿tieS 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 requIr￿ent 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.
C￿￿1 must".
Make JtyJg￿￿s estimates that aThJ rna50nable'.
Thtr Counryl v6 resp)nst* for keerArg *%￿nting records whith 3hwkd te abla to
disclose at any tirTP finar￿131 pOs￿"0n of the Company a￿1 enable the Counul to ensure
Complian￿ the Cc*npanw Act 2fkn. The C(yJnrAI is ajso ￿$￿%)n￿ble for safeguarding Ihg
a8sets oftheTntst and frKtakN¥J rea$L￿￿ep8 the aTrJ deteekn offraud and
other finanaal iwlarit*s.
2011.
nt Examir
appjintrnent.
Small Com
This Report has in *ilh Ihè 3pe(3al FYOVISW￿S cl Pwt 15 of the
Cornpanies Ac¢ 21￿ ￿l8￿"[ya to Small c￿nig5.
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 C*f 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 (Ur￿er 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 rec￿d$ w8r8 not kept in accL¥dance th 5eL*on 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 p￿pa￿ 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 Investm￿lASSe15
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 A￿er 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 ￿$￿￿87 ￿lue over (h*r 8xpeded
useful INes. Leasaldd yop8rty d•pre¢h31ed for the fc*e$e8able future on the basi5
the asset has a long useful 8conc¥nK hfe an(1 Is hdd p1Wn￿lY lor tharty use. olh8r
fixed 8¥8ets are deprerialed ￿ a reducing ￿an(* basis at 25% per annum.
f_ St¢ck•
StLKks Y￿U8￿ 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 AC￿VITIEs
Sale ol Ovm puolic3lion
Donaliolls from walks
255
S55
910
490
1.009
4 INCOME FROM OTHER TR*IA14G 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 vwi*12002-£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 re￿IrS
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 EX￿￿llUre (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 AccoU￿rS
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)r￿4 in accordance wth the allOca￿Dn 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 ￿M￿ED
140TES TO THE ACCOiINT$
FOR THE YEAR ENDED 31 MARCH 2D23
g TANGIBLE FIXED ASSETS
Leaseh￿￿
Property
Fixture
fitt￿9
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
RevaI￿allon
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 Ma￿h 2023 with Cosl È172.586. Depveoakn to dale £42.343 and Net BoDk v￿￿e £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 LIM￿ED
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$iAtrchfv8s
52.802
48.540
9.163
862,477
9.309
792.729
'IncludÈd in unrestrided funds are invtssiments am(xJnting lo £33.73312022' £36,255) vA)ich are
d85igna18d funds sel aside the pUr￿se of replaong the TrusV5 prerTrise5 on expiry of the
lease. It 1$ 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