## Well Creek Trust
# Limited by Guarantee Unaudited Annual Report Year ended 31st August 2023
Company number 00975359 Charity number 261020
## **WELL CREEK TRUST LIMITED BY GUARANTEE INDEX TO THE FINANCIAL STATEMENTS YEAR ENDED 31st AUGUST 2023**
PAGE 3 REFERENCE AND ADMINISTRATIVE INFORMATION
PAGES 4 to 8 TRUSTEES' REPORT
PAGE 9 INDEPENDENT EXAMINER'S REPORT PAGE 10 STATEMENT OF FINANCIAL ACTIVITIES PAGE 11 BALANCE SHEET PAGES 12 to 17 NOTES TO THE FINANCIAL STATEMENTS
## **WELL CREEK TRUST LIMITED BY GUARANTEE**
## **REFERENCE AND ADMINISTRATIVE INFORMATION**
## **YEAR ENDED 31st AUGUST 2023**
**TRUSTEES** (Chairman) GRAHAME ALFRED SEATON (Secretary) JOHN DELANEY (Treasurer) ALLAN GULLON (Vice Chairman) RICHARD CHARLES GODFREY (Council Members) PAUL JETSON JOHN DELANEY KEN LAMBARD MARTIN HUGH SCOTT PAUL MATHER PHILIP ADAMS MICHAEL KELLY PAULETTE LOUISE NUSS **COMPANY SECRETARY** JOHN DELANEY **REGISTERED OFFICE** SYLVIA HOUSE, THURLANDS DROVE UPWELL WISBECH, PE14 9AP **INDEPENDENT EXAMINER** RICHARD WELBOURNE FCCA 16 BIRCH GROVE, ELM, WISBECH, CAMBS **HONORARY SOLICITOR BANKERS** LLOYDS TSB PLC 3 NORTH BRINK, WISBECH, CAMBS. **CHARITY NUMBER** 261020 **COMPANY NUMBER** 00975359
## **WELL CREEK TRUST LIMITED BY GUARENTEE**
## **Report of the trustees Year ended 31st August 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## Governing document
The company is a charitable company limited by guarantee, incorporated on 23rd March 1970 and registered as a charity on 28th May 1970. The company was established under a Memorandum of Association (as amended on the 26th January 1971) defining the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.00 (one pound).
## Recruitment and appointment of the board
The directors of the company are also charity trustees for the purposes of charity law. Under the company’s current Articles of Association its affairs are managed by a Trust Council who are elected by the Annual General Meeting. One third of the Council retire annually. The Officers of the Trust for the ensuing year are re-elected or replaced by the Council at the first meeting after the Annual General Meeting. The Trust Council must consist of four officers, and not less than six, but no more than sixteen other Council Members. Currently it comprises of four officers and eight others: a total of twelve Council Members.
## Trustee induction and training
Those trustees appointed are normally already experienced with the work of charities and in addition bring appropriate interest and local knowledge to the Governing Body. The Memorandum and Articles of Association are made available together with advice on the dual role of member and trustee.
The operation of the company as a preservation trust and its operation as a rolling fund trust is explained, together with a current report on projects in hand and planned, to new trustees. They are also provided with a financial summary and an outline of sources of funding.
New trustees will be referred to the Charity Commission website booklet CC3.
Page 4
## **WELL CREEK TRUST LIMITED BY GUARENTEE Report of the trustees (continued) Year ended 31st August 2023**
## Risk management
The records of the company are held at its Registered Office at Sylvia House, Thurlands Drove, Upwell, Wisbech PE14 9AP, and the majority are held on computer. A bi- monthly back-up is currently taken and a copy stored at another location to minimise the risk from lost data.
Financial payments are made only by cheque or standing order and transfers between the current and deposit accounts by on-line banking. Cheques written require two of three signatures. Cash payments may be made up to the value of £50.00.
Risk in undertaking projects is managed by careful selection of skilled professionals to carry out the work required by the charity’s objectives, and investigations to confirm the correct insurances are in place where necessary.
The company has no salaried staff and no specialised or specific skills that are needed for running the company. This means that the loss of trustees should not affect continuity of the charity objectives. There are enough local residents with an interest in the work of the trust to make it relatively easy to maintain the required number of trustees. A comprehensive risk management assessment is regularly reviewed by the trustees.
## Related parties
There are no related party relationships that the company is aware of that requires reporting.
## **OBJECTIVES AND ACTIVITIES**
The Company's principal activity is to sponsor the preservation, beautification, and public use of the Well Creek in all its aspects, including boating, navigation, fishing, skating, nature conservation, village landscaping and amenities. The Charity raises funds by way of membership subscriptions and donations and uses those funds to promote the objects for which the Trust was established for the benefit of the public at large. There have been no significant changes in the objectives of the Organisation or its policies since the last report.
The main activities on the Well Creek which were under the jurisdiction of the Trust during the year were running River clean up, general repairs and maintenance to moorings, information signs, general strimming work at landing stages, fishing stages and seats. Daffodil and general planting.
Most of these ventures are long term commitments and continue from cash resources year to year. The Trust relies entirely on public subscriptions by way of Memberships and Donation. It also relies totally on voluntary help by the way of labour and the use of some tools and machinery etc. Cash resources should be adequate for the foreseeable needs of the Trust to cope with the scope of work needed on the Well Creek.
Page 5
## **WELL CREEK TRUST LIMITED BY GUARENTEE Report of the trustees (continued) Year ended 31st August 2023**
## **PUBLIC BENEFIT**
As set out in the charitable objectives the work carried out by the Trust is for the benefit of people of Upwell, Outwell, Nordelph, West Downham and the areas surrounding the Well Creek. Its work is to protect, preserve, develop, and maintain as places of general public amenity, features of natural beauty or of botanical, ornithological, geological, zoological and scientific interest. It was also set up to establish, form, own and maintain sanctuaries or reserves for the preservation of birds or other animals and to establish, form, and maintain reserves for wild plants to encourage the breeding of wild birds which are harmless, beautiful, or rare. The trust was also set up to prevent the killing of birds or animals which are in danger of extinction or serious diminution. The Trust will also sponsor the preservation, beautification, and public use of Well Creek in all its aspects including boating and navigation, fishing, skating, nature conservation and village landscaping and amenities.
## **ACHIEVEMENTS AND PERFORMANCE**
Following the success of the previous year, we held another well attended Dance at the Upwell Village Hall on 23/9/22. The Upwell Church Mooring was refurbished in Oct/Nov with a complete new deck and supporting timbers following successful grant awards. Daffodil planting took place in Dec including Wild Flower Seed trials.
The AGM on 2nd February 2023 and was attended by approximately 70 people, after there was a talk/slide show by Bill Smith on the History of the Well Creek.
The annual spring clean-up was held on 15th April 2023 and a total of 14 bags of rubbish were collected by the team working along the riverbanks and from boats.
Swan nesting signs were erected to help protect the regular nesting birds. The WCT supports the Upwell Tram Memento Project with phase 3,Outwell Basin and phase 4, Birds Corner, Emneth, completed during the year.
## **FINANCIAL REVIEW**
Principal funding sources
The company currently gains the majority of its income through subscriptions, donations and Gift-Aid with other income from book sales. Local Grants for infrastructures will be applies for as appropriate.
Page 6
## **WELL CREEK TRUST LIMITED BY GUARENTEE Report of the trustees (continued) Year ended 31st August 2023**
## Investment policy
The company can invest monies not immediately required for its immediate purposes in or upon such investments, security or property as may be thought fit subject to conditions or consents as may for the time being, be imposed or required by law. The order of monies held in an interest earning bank deposit account is around £5,000, although this does vary from time to time. The company has also invested in printed books which it holds for sale. The cost of these books is shown on the balance sheet.
## Reserves policy
The company has reviewed its past requirements and based on that review has adopted a policy to aim to hold in the order of two to three years’ operating costs as a reserve to cover those periods when there are no active projects providing income.
## **PLANS FOR THE FUTURE**
The company intends to carry on work as in previous years with the spring clean-up and other general works to maintain facilities in good order. Landing stages will gradually be upgraded with new support structures and durable decking. We hope to provide multiple single fishing platforms and areas of Wild Flowers
## **RESPONSIBILITIES OF THE TRUSTEES**
The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law trustees must not approve the financial
statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources, including its income and expenditure, of the charity for the year.
In preparing those financial statements 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 accounting estimates that are reasonable and prudent; Prepare financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Page 7
## **WELL CREEK TRUST LIMITED BY GUARENTEE Report of the trustees (continued) Year ended 31st August 2023**
## Responsibilities of the Trustees (continued)
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy, at any time, the financial position of the charity and enable them to ensure that the financial statements comply with the requirements of the Companies Act 2006. They 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.
## **BASIS OF PREPARATION**
The report of the trustees has been prepared in accordance with the special provisions of section 415A of the Companies Act 2006 relating to small companies.
Approved by the trustees/directors on ……………………….. and signed on their behalf by:
……………………………………………..
JOHN DELANEY Secretary
## Page 8
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WELL CREEK TRUST LIMITED**
I report on the accounts of the company for the year ended 31st August 2023, which are set out on pages 10 to 16.
This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 31 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for my work, for this report, or for the statement I have made.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 43(2) of the charities Act 1993 (the 1993 Act). Although an independent examiner’s report is not required by charity law, it is required by the company’s memorandum and articles of association.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true
and fair’ view, and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 41 of the 1993 Act; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Richard Welbourne FCCA**
**Date**
Page 9
|12-Jan|AR Clingo|chq|
|---|---|---|
|8-Feb|Mr CG Green|chq|
|3-Feb|Mr KBC West|chq|
|**7-Mar**|**cheques to bepaid to bank**||
|2-Mar|Jeni Townsend|cash|
|2-Mar|Jane McLeod|cash|
|2-Mar|P Nuss|cash|
|**24-Apr**|Thornlabs Ltd Donation|fp|
|**4-May**|M & D Thornborrow|fpi|
|17-Apr|C Norman|chq|
|15-May|RJ Herbert|chq|
|20-May|E Robinson|chq|
|21-May|P Lunn|chq|
|20-May|NR Waite|chq|
|23-Mar|SG Rainbird|chq|
|24-May|AJ Chambers|chq|
|6-Jun|HEG Seims|chq|
|**19-Jun**|**chequespaid to bank**||
|**30-May**|R Shortingsubs|fp|
|6-Jun|K & C Gravett|cash|
||||
|**4-Jul**|Mr G Brown subs - chq paid to bank|chq|
|1-Jul|Contents of Water don. Box from Tweeds Buch shop|cash|
|**5-Jul**|HRMC Gift Aid|bgc|
||||
|**11-Sep**|Paypal book sales,P Burrows- Well Creek and Wella books||
|**11-Sep**|Payment to Bill Smith for Wella books(two)||
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||**From**|**OUTGOINGS**
**WCT**
**01/09/22 - 31/08/23**|**OUTGOINGS**
**WCT**
**01/09/22 - 31/08/23**|**OUTGOINGS**
**WCT**
**01/09/22 - 31/08/23**|**OUTGOINGS**
**WCT**
**01/09/22 - 31/08/23**|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|16,160.63|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**bold**|Date /**Date**
**into Acc**|Description||Journal &
ChqNo|Assets|Out of Bank|Out of BUS|Out of
Cash|T|Upwell Tram
Memento|Companies
House|Postage|Stationery|Hall|Labour &
Services|Materials|Dance|Insur|Depreciation/
write off of an
asset|
Inland
Waterway
s|Wave
/Anglian
Water|
||**5-Sep**|Coversure insurance||FP||£416.08||||||||||||£416.08||||
||**12-Sep**|extra room at Vill Hall forprep/servingfood at dance||FP||30.00|||||||||||£30.00|||||
|**denotes**
**bank**
**statemt.**
**entry**
**dates**|**12-Sep**|B Seaton Dance expenses||FP||83.44|||||||||||£83.44|||||
||13-Sep|Cashpaid to G Seaton for the music band - Add Libb||cash||||£400.00|||||||||£400.00|||||
||**21-Sep**|Anglian Water/Wave||DD||22.63|||||||||||||||22.63|
||**26-Sep**|Upwell Vill Hall mtgroom||FP||20.00||||||||£20.00||||||||
||**26-Sep**|Bramblebee dance cateringbalance||FP||1,531.70|||||||||||£1,531.70|||||
||**26-Sep**|P Bradley- Dance ballons||FP||60.00|||||||||||£60.00|||||
||**27-Sep**|transfer from BUS to Current acc - see income||||||||||||||||||||
||**17-Oct**|JHardy JRH Mooringwork 1stpayment||FP||6,618.72|||||||||£6,618.72|||||||
||**10-Nov**|JHardy JRH Mooringwork 2ndpayment||FP||6,618.72|||||||||£6,618.72|||||||
||28-Nov|Cash receipt/duplicate book||cash||||£2.29|||||£2.29|||||||||
|||||||||||||||||||||||
||**9-Dec**|JHardy JRH Mooringwork 3rdpayment||FP||14,000.00|||||||||£14,000.00|||||||
||11-Dec|Cash to P Nuss for dafodil bulbs||cash||||£25.00||||||||£25.00||||||
||**20-Dec**|Anglian Water/Wave||DD||15.99|||||||||||||||15.99|
||20-Dec|cash forprinting paper||csah||||£4.40|||||£4.40|||||||||
||**3-Jan**|JHardy JRH Mooringwork fnalpayment||FP||2,144.64|||||||||£2,144.64|||||||
||**3-Jan**|Upwell Vill Hall- Nov mtg/AGM for Feb/Sept dance deposit||FP||192.38||||||||£82.38|||£110.00|||||
||**30-Jan**|NJMissin/ADC Signs for Church mooring||fp||69.50||||||||||£69.50||||||
||**30-Jan**|A Gullon -printing postage||fp||66.48||||||£34.00|£32.48|||||||||
||**30-Jan**|Upwell Vill Hall balance of AGM||fp||35.62||||||||£35.62||||||||
||**6-Feb**|Planning perm for fshing plat. Extension||534||234.00|||||||||£234.00|||||||
||**6-Feb**|Middle Levelperm ditto||533||50.00|||||||||£50.00|||||||
||**23-Feb**|G Lawson web site fees||fp||79.50||||||||||||||||
||**23-Feb**|Upwell Vill Hall||fp||22.00||||||||£22.00||||||||
||**20-Mar**|Anglian Water/Wave||||14.24|||||||||||||||14.24|
||**25-Apr**|Upwell Vill Hall - March Mtg||fp||22.00||||||||£22.00||||||||
||**25-Apr**|Outwell Timber||||64.95||||||||||£64.95||||||
||**25-Apr**|NJMissin/ADC Signs forswans nesting||||140.00||||||||||£140.00||||||
||**25-Apr**|A Gullon - Co House fee/fower seeds/auditorgift||||170.50|||||£13.00|||||£132.50||||||
|||||||||||||||||||||||
||13-May|A Gullon copying/ postingmbshpreminders||cash||||£17.20||||£12.00|£5.20|||||||||
||**22-May**|Alison Waters - cateringdeposit for Sept Dance||fp||150.00|||||||||||£150.00|||||
|||||||||||||||||||||||
|||||||||||||||||||||||
||**20-Jun**|Anglian Water/Wave||dd||32.21|||||||||||||||32.21|
||**20-Jun**|Upwell Vill Hall - Maymtg||fp||22.00||||||||£22.00||||||||
|||||||||||||||||||||||
||**2-Aug**|A Gullon for noticeboard cork andglue||fp||52.47||||||||||£52.47||||||
||**2-Aug**|JDeleanyfor dance supplies||fp||46.44|||||||||||£46.44|||||
||9-Sep|Bookpostage||cash||||£2.25||||£2.25||||||||||
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|||||**£0.00**|**£33,026.21**|**£0.00**|**£451.14**||**0.00**|**£13.00**|**£48.25**|**£44.37**|**£204.00 **|**£29,666.08**|**£484.42 **|**£2,411.58**|**£416.08**|**£0.00**|**£0.00**|**£85.07**|
|||||||**£33,477.35**
dif|||||**£33,477.35**
work
done
£0.00||||**£29,666.08**
**£484.42**
**£30,150.50**||||||
|Website|ASSETS|Sundry||
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|79.50||||
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|||£25.00|gift for R Welbourne|
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£79.50
Eo
£25.
## **WCT Cash held and bank account summary**
|**CASH**||
|---|---|
|B/F @ 01.09.22
**£405.76**
Add Income
£167.02
**£572.78**
Less Outgoings
£451.14
**Cash Held**
**£121.64**||
|**Bank Accounts**|B/F@1.9.22|B/F@1.9.22|Add
Income|Less
Outgoings|Totals|
|---|---|---|---|---|---|
|**Current**|£6,384.88||30987.43|33026.21|£4,346.10|
|||||||
|**Interest**|£4,581.80||21.98|0|£4,603.78|
||||**Total Bank Funds**||**£8,949.88**|
||||**Cash Held**||**£121.64**|
**TOTAL FUNDS**
**£9,071.52**
Bank B/F @ 1.09.16 **Less £0.00 Plus True Bank Bal B/F 01.11.14 £0.00** Less Outgoings £33,477.35 **-£33,477.35** Plus Income £31,176.43 -£2,300.92 Less Assets purch £0.00 **True Bank Bal -£2,300.92**
**Adj : Still to come out/in** Bank Bal @ £3,719.97 31.3.17 Less cheques £3,719.97 Plus not Bnked **£3,719.97**
## **Well Creek Trust Ltd's Accounts for 1st Sept 2022 to 31st Aug 2023**
|**INCOME**|**£**|**EXPENDITURE**|**£**|
|---|---|---|---|
|Upwell Tram mem. Fund|£0.00|UTM|£0.00|
|Subscriptions|644.00|Companies Ho.|13.00|
|Donations|927.02|Postage|48.25|
|HTMC charities|315.40|Stationery|44.37|
|Refreshments|0.00|Hall Hire|204.00|
|Raffles|600.00|Labour & Services|29,666.08|
|Dance|640.00|Materials|484.42|
|Grants|28,000.00|Dance|2,411.58|
|Book Sales|£28.03|Insurance|416.08|
|Misc|0.00|Affiliation Fees|0.00|
|Interest|21.98|Anglian Water|85.07|
|||Website Hosting|79.50|
|||Sundry|25.00|
||**31,176.43**||**33,477.35**|
||-|Surplus for the year|**-2,300.92**|
||**31,176.43**||**31,176.43**|
|**ce Sheet as at 31st August 2023**||||
|Assets|**£**|Financed by|**£**|
|Bank - Current acc|4,346.10|Balance '21/22|11,372.44|
|Bank - Bus interest acc|4,603.78|||
|Cash|121.64|Surplus|-2,300.92|
|Assets|0.00|||
|total|**9,071.52**||**9,071.52**|
|**Balance Sheet as at 31st August**|**Balance Sheet as at 31st August**|**2023**||||
|---|---|---|---|---|---|
|Assets||**£**||||
|Bank - Current acc||4,346.10||||
|Bank - Bus interest acc||4,603.78||||
|Cash||121.64||||
|Assets||0.00||||
|total||**9,071.52**||||
|Less Commitments :-||||||
|UTM fund this year||0.00||||
|previous c/f||#REF!||||
|**Total WCT Funds**||**#REF!**||||
||||current|prev||
|**Membership**|single||26||31|
||family||48||57|
||life||46||48|
||||120||136|
all equipment written off
assets
|WCT Book Stock Value||||
|---|---|---|---|
|Asset Value end Aug 2020|62|£3|£186|
|end Aug 2021|61|£3|£183|
|end Aug 2023|48|£3|£144|
|cash check 11/1/20
accs
cash check 31/5/20
acc
41.13
14.57
actual
actual
50
50
20
20
10
10.00
10
5
10.00
5
2
2
1
5.00
incl one old coin
1
1.00
50p
5.00
50p
2.00
20p
20p
6.60
20p
6.00
20p
10p
10p
1.50
10p
1.60
10p
5p
5p
2.60
5p
2.65
5p
2p
0.38
2p
0.40
1p
0.50
1p
0.47
41.13
diff
0.00
14.57|cash check
actual
50
20
10
5
2
2 old coins
1
50p
20p
20p
10p
10p
bagged
5p
5p
2p
1p|
|---|---|
|k 10/11/22 acc
39.76
20
5
8.00
3.00
0.80
0.50
2.00
0.35
0.10
0.01
39.76
0.00|cash check 5/1/23
acc
8.07
actual
50
20
10
5
2
2 old coins
1
2.00
50p
3.00
20p
0.20
20p
10p
0.50
10p
bagged
5p
2.00
5p
0.30
2p
0.06
1p
0.01
8.07
0.00|cash check 7/2/23
acc
44.07
actual
50
20
10
20
5
2
6.00
2 old coins
1
6.00
50p
7.00
20p
2.20
20p
10p
0.50
10p
bagged
5p
2.00
5p
0.30
2p
0.06
1p
0.01
44.07
0.00|
|---|---|---|
||cash check|9/9/23|acc|
|---|---|---|---|
||||121.64|
||actual|||
||50|||
||20|||
||10|28||
||5|25||
||2|12.00||
|2 old coins|1|38.00||
||50p|11.50||
||20p|3.20||
||20p|||
||10p|1.20||
||10p|||
|bagged|5p|2.00||
||5p|0.35||
||2p|0.26||
||1p|0.13||
|||121.64||
|||0.00||
## **WELL CREEK TRUST LIMITED BY GUARANTEE**
## **Statement of Financial Activities**
## **(Including Income and Expenditure Account) for the year ended 31st August 2023**
|**INCOMING RESOURCES**
**Notes**
**Incoming resources from generated funds**
**2**
Voluntary income
Activities for generating funds
Investment income
**Incoming resources from charitable activities**
**Other incoming resources**
**Total incoming resources**
**RESOURCES EXPENDED**
**3**
**Costs of generating funds**
Costs of generating voluntary income
Fundraising trading: cost of goods sold
Investment management costs
**Charitable activities**
**Governance costs**
**Other resources expended**
**Total resources expended**
**Net (outgoing)/incoming resources before transfers**
**Transfers**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**Total funds carried forward**
**7, 8**|**2023**
**2022**
**Restricted**
**Unrestricted**
**Total**
**Total**
**funds**
**funds**
**funds**
**funds**
**£**
**£**
**£**
**£**
**-**
**1,571**
**1,571**
3,304
**-**
**29,583**
**29,583**
2,610
**-**
**22**
**22**
1
**-**
**-**
**-**
-
**-**
**-**
**-**
-|
|---|---|
||**-**
**31,176**
**31,176**
5,915|
||**-**
**-**
**-**
-
**-**
**2,492**
**2,492**
320
**-**
**-**
**-**
-
**-**
**30,235**
**30,235**
2,275
**-**
**751**
**751**
840
**-**
**-**
**-**
-|
||**-**
**33,478**
**33,478**
3,435|
||**-**
**2,302**
**-**
**2,302**
**-**
2,480
**-**
**-**
**-**
-|
||**-**
**2,302**
**-**
**2,302**
**-**
2,480
**1,884**
**9,626**
**11,510**
9,030|
||**1,884**
**7,324**
**9,208**
11,510|
The Statement of Financial Activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
Page 10
## **WELL CREEK TRUST LIMITED BY GUARANTEE**
## **Balance Sheet as at 31st August 2023**
|**FIXED ASSETS**
Tangible assets
**6**
**CURRENT ASSETS**
Cash in hand
Cash at bank
Stock Books @£3
**TOTAL**
**CREDITORS:**
Amounts falling due within one year
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**INCOME FUNDS**
Unrestricted fund
**7**
Restricted fund
**8**
**TOTAL FUNDS**|**£**
**121**
**8,949**
**138**|**2023**
**£**
**-**
**9,208**|**2022**
**£**
-
406
10,966
138|
|---|---|---|---|
||**9,208**
**-**||11,510
-|
||||11,510|
|||**9,208**|11,510|
|||**7,324**
**1,884**|9,626
1,884|
|||**9,208**|11,510|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of the company as at 31st August 2015 and of its loss for the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008).
The financial statements were approved and authorised for issue by the board and were signed on its behalf on……………………………………
GRAHAME ALFRED SEATON - Chairman
Page 11
## **WELL CREEK TRUST LIMITED BY GUARANTEE Notes forming part of the financial statements Year ended 31st August 2023**
## **1. ACCOUNTING POLICIES**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
## **(a) Basis of accounting**
The financial statements have been prepared in under the historical cost convention and in accordance with the Statement of Recommended Practices Accounting and Reporting by Charities issued in March 2005 and the Financial Reporting Standard for Smaller Entities (effective April 2008).
## **(b) Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes. There are currently no designated funds.
## **(c) Incoming resources**
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- (i) voluntary income is received by way of grants, donations, subscriptions and gifts and is included in full in the Statement of Financial Activities when receivable. When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods;
- (ii) when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable;
- (iii) investment income is included when receivable;
- (iv) incoming resources from charitable activities are accounted for when earned.
Page 12
## **WELL CREEK TRUST LIMITED BY GUARANTEE**
## **Notes forming part of the financial statements Year ended 31st August 2023**
## **(d) Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT where applicable, as the charity is not VAT registered to reclaim VAT, and is reported as part of the expenditure to which it relates:
- (i) costs of generating funds comprise the costs associated with attracting voluntary income. This includes the costs of the charity's website which is used to administer online donations;
- (ii) charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them;
- (iii) governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity;
- (iv) all costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs related to a particular activity are allocated directly, other are apportioned on an appropriate basis as set out in note 4.
## **(e) Stock**
Stock, comprising of books, is valued at cost or estimated realisable value, which ever is the lower, a basis consistent with that adopted in previous years.
## **(f) Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their estimated useful economic life as follows:
Plant and equipment
25% - reducing balance
Page 13
## **WELL CREEK TRUST**
## **LIMITED BY GUARANTEE**
## **Notes forming part of the financial statements Year ended 31st August 2023**
## **2. INCOMING RESOURCES FROM GENERATED FUNDS**
|**Voluntary income**
Subscriptions
Upwell Tram Memento
Donations
**Activities for generating funds**
HTMC Charities
Dance
Clothing sales
Sale of books
Refreshments
Raffles
Grants
**Investment income**
Bank deposit interest
**Total income from generated funds**|**2023**
**Restricted**
**Unrestricted**
**Total**
**funds**
**funds**
**funds**
**£**
**£**
**£**
-
**644**
**644**
**-**
-
**-**
**927**
**927**
**-**
**1,571**
**1,571**
-
**315**
**315**
-
**640**
**640**
-
**-**
**-**
-
**28**
**28**
-
**-**
**-**
-
**600**
**600**
-
**28,000**
**28,000**
**-**
**29,583**
**29,583**
**-**
**22**
**22**
**-**
**31,176**
**31,176**|**2022**
**Total**
**funds**
**£**
745
1,436
1,123|
|---|---|---|
|||3,304
747
1,580
-
111
-
172
-|
|||2,610
1|
||||
|||5,915|
**Page 14**
## **WELL CREEK TRUST LIMITED BY GUARANTEE Notes forming part of the financial statements Year ended 31st August 2023**
## **3. RESOURSES EXPENDED**
|**Basis of**
**allocation**
**Costs directly**
**allocated to activities**
Cost of work done
Direct
Membership fees
Direct
Meeting expenses
Direct
Stationery
Direct
Printing of books
Direct
Momento expenses
Direct
Anglian Water fees
Direct
Event expenses
Direct
**Support costs**
**allocated to activities**
Insurances
Usage
Professional fees
Usage
Sundry expenses
Usage
Depreciation charge
Usage
Web site
Usage
Event expenses
Usage
**Total resources expended**|**Voluntary**
**income**
**Activities**
**for**
**generating**
**funds**
**Charitable**
**activities**
**Governance**
**2023**
**Total**
**2022**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**
30,150
30,150
1,495
-
-
-
204
204
180
93
93
149
-
-
45
-
-
712
85
85
68
-
-
-
416
416
416
13
13
13
25
25
82
-
-
-
80
80
105
2,412
2,412
170|
|---|---|
||**-**
**2,492**
**30,235**
**751**
**33,478**
**3,435**|
## **4. TRUSTEE REMUNERATION**
The trustees were not paid or reimbursed for expenses during the year. The company's directors do not receive emoluments. During the year (and the preceding year) the company had no employees.
## **5. TAXATION**
No provision is made for taxation as the company is a charity entitled to the various exemptions afforded by the Corporation Tax Act 2010.
**Page 15**
## **WELL CREEK TRUST**
## **LIMITED BY GUARANTEE**
## **Notes forming part of the financial statements Year ended 31st August 2023**
## **6. FIXED ASSETS**
|**Cost**
As at 31st August 2022 and 31st August 2023
**Depreciation**
As at 31st August 2022
Charge for the year
As at 31st August 2023
**Net book value**
As at 31st August 2023
As at 31st August 2022
**7.**
**UNRESTRICTED FUNDS OF THE CHARITY**
**General Fund**
Balance brought forward
Transferred from income and expenditure account
Balance carried forward
**Legacy Reserve Fund**
Balance brought forward
Balance carried forward
**Total Unrestricted Funds**
**8.**
**RESTRICTED FUNDS OF THE CHARITY**
**Upwell Tram Momento Fund**
Balance brought forward
Transferred from income and expenditure account
Balance carried forward
**Total Restricted Funds**|**Plant &**
**equipment**
**£**
**463**
**463**
**0**
**463**
**0**
**0**
**2023**
£
**7,399**
**2,302**
**-**
**5,097**
**2,227**
**2,227**
**7,324**
**2023**
£
**1,884**
**-**
**1,884**
**1,884**|**Total**
**£**
**463**|
|---|---|---|
|||**463**
**0**|
|||**463**
**0**|
|||**0**|
|||**2022**
£
**5,643**
**1,756**|
|||**7,399**|
|||**2,227**|
|||**2,227**|
||||
|||**9,626**|
|||**2022**
£
**1,160**
**724**|
|||**1,884**|
||||
|||**1,884**|
Page 16
## **WELL CREEK TRUST LIMITED BY GUARANTEE**
## **Supplementary note to the financial statements Year ended 31st August 2023**
|**INCOME**
Subscriptions
Donations
Upwell Tram Memento
Bank deposit interest
**OTHER INCOME**
HTMC Charities
Dance
Clothing sales
Sale of books
Refreshments
Raffles
Grants
**TOTAL INCOME**
**EXPENDITURE**
Cost of work done on creek
IWA annual membership fee
AGM and meeting expenses
Public liability insurance
Companies House - Annual return fee
Stationery
Sundry expenses
Depreciation charge
Printing of books (stock adjusted)
Upwell Tram Memento
Anglian Water
Event expenses
Web site
Bank charges
**TOTAL EXPENSES**
**RESULT FOR THE YEAR**|**2023**
**£**
644
927
-
22
315
640
-
28
-
600
28,000
31,176
30,150
-
204
416
13
93
25
-
-
-
85
2,412
80
-
33,478
**2,302**
**-**|**2022**
**£**
745
1,123
1,436
1
747
1,580
-
111
-
172|
|---|---|---|
|||5,915
1,495
-
180
416
13
149
82
-
45
712
68
170
105
-|
|||3,435|
|||**2,480**|
This page is not subject to the Independent Examiner's report
Page 17