Charity registration number= 252062
The Worgan Trust
Annual Report and Financial Statements
for the Year Ended 31 December 2023

The Worgan Trust
Contents (continued)
Reference and Adminislralive Details
Trustees, Report
2to4
Statement of Trustees, Responsibilities
Independent Examiner's Report
Statement of Financial Activities
B818nce Sheet
Notes lo the Financial Statements
91014

The Worgan Trust
Reference and Administrative Details
Trustees
Mr B I Compton
Mrs C M Salmon
Mr C B Compton
Mrs C H Compton, Chair
Mr F J E Salmon
Mrs J E Cobain
Mrs M Cobain
Principal Office
PO8ox876
wOr￿ster
WR4 4EP
Solicitors
Lambe Comer and Co
36137 Bridge Street
Hereford
Herefordshire
HR4 9DJ
Charity Registration Number
252062
Property Managers
N Russell
Lavender Cottage
Luclon
Leominster
Herefordshire
HR6 9BH
Indepgndent Examiner
Ballards LLP
11 c Kingswood Road
Hampton Lovett
DroihNich
Worcestershire
WR9 OQH
P8ge 1

The Worgan Trust
Trustees. Report
The trusle&s present the annual report together with the financial slat8ments of the charity for the year
ended 31 Decembar2023.
Objectlves and actlvltles
Objects and aims
The Worgan Trust was created lo hold land for protection and preservation. This purpose is sustained
through continued ownership of Longdon and Wilhybed Wo(xJs in Wyre Forest near Bewdley on the
Shropshire side of Dowles Brook, and Chapman's Hill Farm in the Clent Hills. In the former case,
access is enjoyed by members of the public using the numerous rights of way and users of Coopers
Mill Youth Centre.
Other land and woodland including Wallon and Moorhall farms are held for preservation or income
purposes.
The Worgan Trust supports Mount Pleasant School Farm which provides facililies for primary and
infant school children from a wide area, bul mostly from the Birmingham Education Authority, lo visit
working f8rm with a range of live3tock. Vi3it8 are arranged daily throughout the school year and are
conducted by the Head of Centre. The Centre is open lo other groups by arrangement. Worgan Trust
has been supporting School Farm education for over 50 years having started in 1972 al Chapmans
Hill. Mount Pleasant School Farm is now run independently as a Charity Incorporated Organisalion
IC.l.O.} The Charity number is 1159485 and il has a website ￿￿W.mOuntpIeasantsCho0lf3rM.cOM
Public benefit
The trustees confirm that they have complied with the requirements of Section 4 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission for
England and Wales.
Financial review
Revaluation of Properties
The land and properb'es held by the Trust were revalued in November 2022 on an open markel value
basis in accordance with guidelines issued by the Royal Inslitulion of Chartered Surveyors," the
valuations have been o)mpiled by suitsbly knowledgeable Trustees, on an open market value basis.
Mount Pleasant School Farm Study Centre was built on land leased from the Boumville Village Trust
and has been transferred to Leasehold Property,. it will be depreciated over the remaining 36 years of
the lease.
Reserves Policy
The balance of unrestricted funds represents funds arising from past surpluses. It is being used for
the programme of repairs lo houses, buildings and land maintenance. As the need to renovate large
properties al the same lime has depleted the Trust reserves Trustees took the decision to borrow the
iiecessary fiiiaiice usin9 a lon9-terin loan has beeii procured Iroin Ihe AMC iii 2020. Tliis continues to
be repald.
P8ge 2

The Worgan Trust
Trustees. Report (continued)
Achievements and performance
The Wyre Forest Woodlands are leased lo Natural England who is responsible for management and
harvesting.. however, our agents are consulted so our Interests are Oeing preserved and the woods
will be managed very much as they were und6r the old Woodland Grant Scheme. The leasg includgs
Coopers Mill Cottage which is located deep in the Wyre Forgst on the Worcestershir8lShropshire
border, 11 is now being run by The Conlinu Plus Academy who wll market Coopers Mill as
residential venue for visiting school and voluntary groups.
Other woodland is being actively managed by our agents with less income as following some felling
there has been a replanting programme.
Walton and Moothall Farmland is now let in fvjo parts on five-year Farm Business Tenancies. The
policy of renovab'on has continued as houses have become vacant. Moorhall Farmhouse, Walton
Farmhouse and five collages have been renovated and are let on Assured Shorthold tenancies. The
remaining cottages all have long term tenants.
Income continues lo be generated from the horse Ilvery. horse orazing and lockup units in the farm
buildings. They all help lo generate income from the properties in Clent which are our main income
stream.
Structura* governance and managament
Nature ol governing document
The charity is controlled by ils governing document, a deed of trust, and conslitules an unincorporated
Recrultment and appointment of trustees
New Iruslees are recruited arKJ appointed at the discretion of the existing truslaes.
Organisational structure
The Trust is run by the trustees and an administrator. They meet in committee two to five limes a
year. Day lo day running is handled by the chairman in direct consultation with the trustees as
necessary.
Rtsk Managenmnt
The trustees have a duty to identify and review the risk lo which the charity is exposed and to ensure
appropriate controls are in place lo provide reasonable assurance against fraud and error. Regular
meetings are held with the Forestry and Estate adwsors during which risks to the charity and its work
are assessed and action is taken when necessary.
P8ge 3

The Worgan Trust
Trustees. Report (continued)
21 May 2024
The annual report was approved by the Iruslees of the charity on
behalf by..
and signed on its
Mrs C H Compton
Trustee
P8ge 4

The Worgan Trust
statement of Trustees. Responsibilities
The Iruslees ar& responsible for preparing the trustees, report and the financial slalemenls in
accordance with tha United Kingdom Accounting Standards Iunited Kingdom Ganeffilly Accepted
Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Iruslees to prepare financial statements for each financial
year which give a true and fair view of the state of affairs of the charity and of the incoming resources
and application of resources of the charity for that period. In preparing these financial ststements, the
trustees are required to".
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent-
slate whether applicable accounting standards have been followed, subject to any malerial
departures disclosed and explaingd in the financial stal8ments', and
repare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping proper accounllng records that dlsclose with reasonable
accumcy at any time the financial position of the charity and enable them lo ensure that the financial
slalemenls comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations
2008, and the provisions of the constilulion. The trustees are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information inclLFded on the charitable company's websit2. Legislation governing the preparation and
issemination of financial statements may differ from legislation in other jurisdictions.
21 May 2024
Approved by the Injstees of the charity on
and signed on its behalf by..
Mrs C H Compton
Trustee
P8ge 5

The Worgan Trust
Independent Examiner's Report to the trustees of The Worgan Trust
I report to the Iruslees on my examination of the accounts of The Worgan Trust for the year ended 31
December 2023.
Responsibilities and basis of report
As the charity trustees of The Worgan Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 I'the Act'l.
I report in respect of my examination of the The Worgan Trusvs accounts carried out under section
145 of the 2011 Act and in carrying out my examination I have followed all the applicable Direcb'ons
given by the Charity Commission under section 145{5llbl of the Act.
Independent examlner's statoment
I have completed my examination. I confirm that no m21erial mallers have come to my attention in
connection with the examinat￿n giving me cause to believe that in any material respect..
1. accounting records were not kept in respect of The Worgan Trust as required by section 130 of
the Act., or
2. the accounts do not accord with those records,. or
3. the accounts do not comply with the accounting r8quiremenls conc8rning the form and conlenl of
accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirem&nt that the accounts give a 'lrue and fair view. which is not a matter considgred as part
of an independent examination.
I have no concems 8nd have come aeross no other matters in connection with the examination lo
whieh attention should be drawft in this report in order to enable a proper understanding of the
accounts lo be reached.
Mark Skellum FCA
11 c Kingswood Road
Hampton Lovett
Droilwich
Worcestershire
WR9 OQH
21 May 2024
Date..
P8ge 6

The Worgan Trust
statement of Financial Activities for the Year Ended 31 December 2023
Total
Total
Unrestricted Unrestricted
funds
funds
2023
2022
Note
Incoma and Endowments from:
Olh&r trading activities
Investment income
34,100
191,094
189,835
Total Income
225,194
189,835
Expenditure on:
Raising funds
Charitable activities
{212,021)
46,521
1203,531)
28,129
Total Expenditure
258,542
231,660
Net expenditure
Other recognised gains and losses
Gainslllossesl on revalualion of fixed assets
133.3481
141,8251
3,785,000
Net movement in funds
133,3481
3,743,175
Reconciliation of funds
Total funds brought forward
11,128,92D
7,385,745
Tolal funds carried forward
11,095,572
11,128,920
All of th& charity's activities derive from continuing operations during the above Iwo periods.
The funds breakdown for 2022 is shown in note 10.
The notes on pages 9 to 14 form an integral part of these financial statements.
P8ge 7

The Worgan Trust
(Registration number: 252062
Balance Sheet as at 31 December 2023
2023
2022
Note
Flxed assots
Tangible assets
11,153,450
11,164,615
Current assats
Debtors
Cash at bank and in hand
3,199
150,339
4,912
197,565
153,538
202,477
Creditors-. Amounts falling due within one year
39,557
44,609
Net currant assats
113,981
157,868
Total assets less current Ilabllltles
11,267,431
11,322,483
Creditors.. Amounts falling duè after mor• than on• yèar
171.859
193.563
Net assets
11,095,572
11,128,920
Funds of the charity:
Unrestrlcted Income funds
Unreslricled funds
11,095,572
11,128,920
Total funds
10
11,095,572
11,128,920
The financial slatements on pages 7 10 14 were approved by Ihe trustees, and aulhorised for issue on
..2.l..MaY.2￿ swJned on their behalf by..
Mrs C H Compton
Trustse
The notes on pages 9 to 14 form an integral part of these financial statements.
P8ge 8

The Worgan Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
1 Accounting policies
Statement of compliance
The financial slalemenls have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Praclice applicable to charities p￿parIng their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 leffeclive 1 January 20191 (Charities SORP IFRS 1021), the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
Basis of preparation
The Worgan Trust me81s the definition of a public benefit entity under FRS 102. The accounts
(financial slalemenlsl have been prepared under the historical cost convention with items recognised
al cost or transaction value unless otherwise staled in the relevant nolelsl to these accounts.
Goln9 concern
The trustees consider that there are no material uncertainties about the charitys ability lo continue as
a going concern.
Income and endowments
All income is ￿COgnised once the charity has entitlement lo the funds, it is probable thal the income
will be received and the amount can be measured reliably.
Expendituro
All expenditure is recognised once the￿ is a legal or conslruclive obligation to that &xpendilure, il is
probable settlement is required and the amount can be measured reliaL)ly. All costs are allocated lo
the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot
be directly attributed lo particular headings they have been allocated on a basis c£)nsistenl with the
use of resources, with central staff costs allocated on the basis of lime spent, and depreciation
charges allocal&d on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Raising funds
These are costs inCUr￿d in attracaing voluntary income, the management of investments and those
incurred in trading activities that raise funds.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities
and services for ils beneficiaries. It includes both costs that can be althaled direclly lo such activities
and those costs of an indirect nature necessary lo support them.
Grant provisions
Provisions for grants ar8 made when the intention to make a grant has been communicated to the
recipient bul there is uncertainty about either the liming of the grant or the amount of grant payable.
P8ge 9

The Worgan Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
(contlnued)
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources, for example, allocating property costs by floor areas, or per
capita, staff costs by the lime spent and other costs by their usage.
Governance costs
These include the costs attributable lo the charity's compliance with cnnstitLrtional and stalulory
requirements, including audit, strategic management and trustees meetings and reimbursed
expenses.
Taxatlon
The charity is considered lo pass the tests set out in Paragraph 1 Schedulè 6 of the Finance Act 2010
and therefore il meets the definition of a charitable company for UK corporation tsx purposes.
Accordingly, th& charity is potentially exempl from taxation in respect of income or capital gains
received within categories covered L)y Ghapler 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively lo charitable purposes.
Cash and eash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
INuid investments that are readily convertible to a known amount of cash and are subject lo an
insignificant risk of change in value.
Trade creditors
are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilit12s rf the does not have an
unconditional right, at the end of the reporting per￿d, to defer sett12ment of the creditor for at least
elve months after the reporting dale. If there is an unconditional right to defer settlement for at least
elve months after the reporting date, they are presented as non-current liabilities.
are recognised inits'ally at the transaction price and subsequently measured at amortised cost using
the effective interest method.
Fund structure
Unrestricted income funds are geneml funds that are available for use at the Iruslees's discrekn.on in
furtherance of the objectives of the charity. The property revalulion reserve comprises the surplus on
the revaluation of the charity's properties.
Page 10

The Worgan Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
(contlnued)
2 Incom• from othor tradlng actlvltlos
Unrestricted
funds
Gonoral
Total
funds
Trading incom8',
Timber sales
34,100
34,100
34,100
34,100
3 Investment incorne
Unrestricted
funds
General
Total
2023
Total
2022
Interest receivable and similar income.,
Interest receivable on bank deposits
other investment income
4,506
8,500
178,088
4,506
8,500
178,088
993
8,500
180,342
Income from rents
191,094
191,094
189,835
4 Expenditure on raising funds
Unrestrlcted
Total
2023
Total
2022
General
Olher investment management costs.,
Property repairs
Maintenance charges
Allocatad support ts)sts
179,405
26,353
6,263
179,405
26,353
6,263
154,312
26,960
22,259
212,021
212,021
203,531
5 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity
during Ihe year.
The amount of expenses reimbursed to the trustees during the year totalled £56012022 - £6391.
Page11

The Worgan Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
(contlnued)
6 Tanglblo fix•d ass•ts
Land and
buildings
Total
Cost
Al 1 January 2023
11,287,430 11,287,430
At 31 December 2023
11,287,43D 11,287,430
Depreclatlon
Al 1 January 2023
Charye for the year
122.815
11,165
122,815
11,165
Al 31 December 2023
133,980
133,980
Net book value
At 31 December 2023
11,153,450 11,153,450
At 31 December 2022
11,164,615 11,164,615
Included within the net book value of land and buildings above is £10,785,OOD12022 £10,785,DOOI in
respect of freehold land and bLJildings and £368,45012D22 - £379,615) in respect of leaseholds.
In 8ccord8nce with the provisions of FRS102, the land and properties held by the Trust were revalued
by suitably knowledgeable trustees in December 2022 on an open market value basis In accordance
with guidelines issued by the Royal Institution of Chartered Suryeyors. Mount Pleasant Study Centre
was built on land leased from the Bournville Village Trust and is valued al its cost of £502,430,. it is
being depreciated over the 37 years of the lease from 2012.
7 Debtors
2023
2022
Pfftpayments
3,199
4,912
8 Creditors- amounts falling due within one year
2023
2022
Bank loans
Trade creditors
Other creditors
Accruals
19,839
15,995
823
2,900
19,839
19,570
2,300
2,900
39,557
44,609
Page 12

The Worgan Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
(contlnued)
9 Cr•dltors: amounts falllng du• aft•r on• year
2023
2022
Bank loans
171,859
193,563
10 Funds
Balance at 31
December
2023
Balance at 1
January 2023
Incoming
resources
Resourcès
expended
Unrestricted funds
General
General
Property Revaluation Reserve
359,450
10,769,470
225,194
1258,542
326,102
10,769,470
11.128,920
225,194
258,542
11,095,572
Balance at
Other
31
Resources recognised December
expended gainsl{lossesl
2022
Balance at
1 January
2022
Incomlng
resources
Unrestricted funds
General
General
Propety Rev8lu81ion
Reserve
401,275
189,835
1231,660)
359,450
6,984,470
3,785,000 10,769,470
7,385,745
189,835
231,660
3,785,000 11,128,920
Page 13

The Worgan Trust
Notes to the Financial Statements for the Year Ended 31 December 2023
(contlnued)
11 Analysls of n•1 ass•ts b•tween funds
Tolal funds
at31
December
2023
Unrastricted
funds
General
Tangible fixed assets
Current assets
Current liabilib'es
11,153,450
153,538
139,5571
171,859
11,153,450
153,538
139,5571
171,859
Creditors over 1 year
Total nel assets
11,095,572
11,095,572
12 Analysis of net funds
At31
December
2023
At 1 January
2023
Financing
cash flows
Cash at bank and in hand
197,565
47,226
150,339
Net debt
197,565
47.226
150,339
At31
December
2022
At 1 January
2022
Flnancln9
cash flows
Cash at bank and in hand
231,642
34,077
197,565
Net debt
231,642
34,077
197,565
13 Ralated party transactlons
There were no related party transactions in the year.
Page 14

The Worgan Trust
Detailed Statement of Financial Activities for the Year Ended 31 December
2023
Total
2023
Total
2022
Income and Endowments from:
Other trading activities lanalysed ￿lOw)
Investment income lanalysed belowl
34.100
191,094
189,835
Total income
225,194
189,835
Expendituro on:
Raising funds lanalysed below)
Charitable activities lanalysed below)
{212,021
46,521
1203,531)
28,129
Total expenditure
258.542
231.660
Net expenditure
Other recognised gains and lo$$es
Cainsllosses on revaluation of fixed assets for charity's own use
lanalysed below)
133,3481
141,8251
3,785,000
Net movement in funds
133,3481
3,743,175
Recon¢ilialion of funds
Total funds brought forward
Total funds carried forward
11,128,920
7,385,745
11,095,572
11,128,920
This page does nol fom) part of the ststutory financial statements.
Page 15

The Worgan Trust
Detailed Statement of Financial Activities for the Year Ended 31 December
2023 (contlnued)
Total
2023
Total
2022
Other tradlng actlvltles
Timber sales
34,100
34,100
Investment income
Rental income
Bank interest receivable
Natural England lease
178,088
4,506
8,500
180,342
993
8,500
191,094
189,835
Raising funds
Propety letting and operating Costs
Propety repairs
Trustees expenses
Bad debts written off
Bank charges
Loan interest
126.3531
{179,4051
15601
1851
1661
5,552
126,9601
1154,312
16391
114,5171
1661
7,037
{212,0211
1203,531
Charitable activities
Accountancy fees
Administration
Dep￿lat￿n of long leasehold property
Chapman's Hill Farm rent
Grants to inslilulions
Professional fees
13.2101
13,4961
111,1651
13.6501
125,0001
13,0161
{4,5111
111,1651
{3,6501
5,787
46,521
28,129
Gains1loss￿ on revaluation of fLYed assets for charity's own
use
Gainsllosses on revalaulion of fixed assets
3,785,000
This page does nol fom) part of the ststutory financial statements.
Page 16
SuileFiles
2024 Ob21 05S32J
Document Signing TroèbW iow6
UwlP 04 1 16126