Claude & Margaret Pike Woodlands Trust Annual Report Year Ended 5 April 2021 ## **Claude & Margaret Pike Woodlands Trust** |Accounts|| |---|---| |Year ended 5 April 2021|| |**Contents**|**Page**| |Reference and administrative details|1| |Trustees’ report|2| |Independent Examiners’ Report|7| |Statement of financial activities|8| |Balance sheet|9| |Notes and accounting policies|10| ## **Claude & Margaret Pike Woodlands Trust** ## Reference and Administrative Details ## Year Ended 5 April 2021 ## **Legal Status** The Charitable Trust is held and administered by the Trustees in accordance with the Trust Deed dated 14 April 1973. It is registered with the Charity Commission under reference number 266072. ## **Trustees** J D Pike Esq Dr P A D Holland Mrs S S Pike The above Trustees are also the Custodian Trustees of the property. ## **Principal Address** Dunderdale Lawn Penshurst Road Newton Abbot Devon TQ12 1EN ## **Bankers** CAF Charity Services CAFCASH Ltd Kings Hill West Malling Kent ME19 4TA ## **Independent Examiner** S Austen FCCA Francis Clark LLP Chartered Accountants Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF ## **Stockbroker/Adviser** J M Finn & Co 4 Coleman Street London EC2R 5TA 1 ## **Claude & Margaret Pike Woodlands Trust** ## Reference and Administrative Details ## Year Ended 5 April 2021 The Trustees’ present their annual report along with the Financial Statements of the Trust for the year ended 5 April 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Trust’s Trust Deed, the Charities Act 2011 and Accounting and Reporting by charities, Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. ## **Structure, Governance and Management** The Claude & Margaret Pike Woodlands Trust is a Charity which was established on 14 April 1973 and is governed by a Trust Deed. It is registered with the Charity Commission under reference number 266072. On 5 April 2010 the assets of the Claude and Margaret Pike Charity settlement, reference number 247657 were transferred into this Trust. The two charities had been established by the same settlors, and both had general charitable objectives and the same trustees. The objects of the Trust are any such charitable purpose or purposes as the Trustees declare, including the following special objects: - 1 To protect, improve or foster an appreciation of the landscape, natural beauty and amenity of woodlands, copses, or other areas of land in the United Kingdom and the flora and fauna therein for the benefit of the public. - 2 To foster the growth of specimen trees and shrubs and the establishment of woodlands or copses which by their location will be an inspiration to man in the environment in which he lives and a demonstration of man’s faith in the future. The Trustees may also transfer assets to any incorporated charity or any officers of any unincorporated charity without being concerned to see the further application of any monies or property transferred. The Trustees administer the Trust jointly and they make all trust decisions. In planning the activities of the Trust, the Trustees kept in mind the Charity Commission’s guidance on public benefit at their Trustee meetings. The main focus of the Trustees’ activities is to manage the Trust’s properties at Heathercombe in such a way as to protect and enhance their amenity, wildlife and environmental value and to open the extensive gardens to the public so that they can enjoy the beautiful, tranquil environment of the valley. The Trustees are appointed by fellow Trustees. The Trust’s governing document does not require the reelection of Trustees. No payments were made to the Trustees, except for the reimbursement of expenses, as shown in note 13. ## **Procedures and Policy for Grant Making** There have been no changes in the policy or procedures for making grants. The Trustees respond to applications as they receive them. They continue to make grants in support of the Trust’s special environmental objects. 2 ## **Claude & Margaret Pike Woodlands Trust** ## Reference and Administrative Details ## Year Ended 5 April 2021 In connection with the merger of the Claude & Margaret Pike Charity with this Trust in April 2010, the Trustees agreed to apply that Charity’s funds in a manner consistent with the purposes of the Charity. In exercising this Trust’s powers to make grants for such charitable purposes as the Trustees may declare, the Trustees intend that, in addition to supporting the Trust’s special environmental objects, they will be guided by the grant-making policy of the Charity, which was normally to make grants to organisations only for causes that are of potential benefit to people living in South Devon (especially in the Newton Abbot area), including causes that benefit their heritage, and normally to make grants to individuals only if they are 16 to 21 year old residents of South Devon for projects designed to expose them to challenges or experiences (especially overseas) that will stimulate them to play positive roles in the community as adults and where the Trustees feel that their grants will make a difference to the individuals’ ability to participate. The Trust approved charitable donations during the year to 10 organisations totalling £27,416. These were financed by interest and dividends received from investments. The major donations were as follows: High Heathercombe CIC - £20,000 Dean & Chapter of Exeter Development Appeal - £2,500 Homeless in Teignbridge Support - £2,000 MED Theatre - £1,250 Stover Historic Landscape Trust - £750 British Red Cross - £500 ## **Achievements and Performance of the Trust** ## _**Heathercombe Woodlands and Gardens**_ The Trust owns Heathercombe Woodlands in the parishes of Manaton and North Bovey in the Dartmoor National Park. These woodlands comprise approximately 76.1 hectares in Heathercombe valley, 9.5 hectares known as Badger (or Vogwell) Wood, 5.8 hectares known as Jay’s Grave Wood, 22.9 hectares known as Lower Langdon Wood and 6.7 hectares known as Gratnar Wood – a total of approximately 121 hectares. The woodlands are in an environmentally sensitive area adjacent to the open moor, and whilst much of the land is dedicated to commercial forestry, that in Heathercombe valley includes an arboretum with a large collection of interesting specimen trees and shrubs, woodland walks beside streams and ponds and a variety of garden areas. On Heatree Down there is an area of rough moorland grazing. Here and in the adjoining woodland there are several groups of Bronze Age hut circles and associated reeves. The woodlands in Heathercombe valley are traversed by the Two Moors Way (Eastern route) long distance public footpath and by a public bridleway to Grimspound. As a result many walkers pass through the woodlands. The Trustees manage Heathercombe Woodlands with a view to fulfilling the following objectives: - the protection and enhancement, in conjunction with good silvicultural practice, of the landscape and amenity value of the woodlands; - the advancement of wildlife conservation and biodiversity in the woodlands and adjacent environment; the development of Heathercombe arboretum and collections of plants of special horticultural interest; - the furtherance of public access to Heathercombe and appreciation of its flora, fauna, management and history; and - the maintenance and development of the footpaths, lakes, waterfalls, plantings and other amenities that enhance public interest and enjoyment of the woodland. 3 ## **Claude & Margaret Pike Woodlands Trust** ## Reference and Administrative Details ## Year Ended 5 April 2021 In April 2016 the Trustees declared their Statement of Policy and Objectives for the Management of Heathercombe Woodlands. Those parts of Heathercombe Woodlands that are dedicated to commercial forestry are managed by Fountains Forestry UK Limited in close consultation with the Trustees - as they have been since the 1960s. Following the felling of almost all of the conifer plantations in Heathercombe in the period since 2010 and the replanting with both broadleaved and conifer species, the landscape of the valley is beginning to take on its new appearance and habitat. Conifers are no longer the dominant species, the ‘garden’ areas beside the streams at the bottom of the valley that are opened to the public now being surrounded by native broadleaved species such as oak, birch and rowan. The wide variety of conifers planted on the higher slopes are going ahead well, notable the extraordinary natural regeneration of Sitka spruce on Newtake. Some expenditure was incurred during the year in weeding and protecting the young trees. Routine work on estate maintenance continued during the year, including the removal of windblown trees, the flailing and cutting of grass, the maintenance of paths and rides, the repair of fences and the care of young specimen trees and shrubs planted in the developing arboretum areas of Oak Park and the former Sitka Wood and the older arboretum and woodland garden areas. The open days planned for 29 March and the period from 10 May to 7 June had to be cancelled because of the Covid lockdown restrictions. However the restrictions were relaxed to enable the gardens to be open between 14 June and 5 July as planned on the basis that all visits had to be pre-booked and paid for on the National Garden Scheme website with a maximum of 50 visitors in specified time slots. No refreshments could be offered but picnicking was allowed. This system was so successful and easy to manage that it was decided to open on this basis from 7 to 26 July. In total, the gardens were open for 34 days – only one short of the number originally planned. A total of 464 people visited the gardens, raising £2,320 for the NGS charities. ## _**Heathercombe Brake: The High Heathercombe Centre**_ The Trust acquired Heathercombe Brake in 2000 and subsequently refurbished the purpose-built hostel on the property now known as the High Heathercombe Centre. The Centre is situated in a splendid elevated location above the woodlands and adjoining the open moor and is set in about 1.7 hectares of its own grounds. The Centre is managed on a charitable basis on behalf of the Trust by High Heathercombe CIC of which the directors are Penelope Holland, Gareth Keene, Tarn Lamb, Charlotte Oliver and John Pike. . The Covid restrictions meant that all the residential courses booked for the year had to be cancelled and the offer made to return all deposits. Two non-residential drug rehabilitation courses were permitted in November and December 2020. Tragically Mel Lamb died after a short illness on 13 July 2020. This was a huge loss. As manager of the Centre for twelve years Mell had worked tirelessly to bring thousands of people to Heathercombe to find peace, for reflection and for healing. She had worked to foster an ethos of earth care, fair shares and people care. She had also organised seven marvelous EDGE sculpture trails, bringing many artists and community groups to Heathercombe. Recognizing that High Heathercombe CIC would suffer the loss of almost all its income for an extended period the Trust made grants of £10,000 on 14 April and 1 July 2020. Mel Lamb was furloughed from the beginning of June until her death. Towards the end of August the CIC received a Business Support Grant of £10,000. With the benefit of the grants and unexpected reduction in costs the CIC remained in a stable financial situation during the year. The directors of the CIC decided to replace Mel Lamb with a residential housekeeper in a much more limited role than that undertaken by Mel, and an appointment was made with effect from 10 April 2021. 6 ## **Claude & Margaret Pike Woodlands Trust** ## Reference and Administrative Details ## Year Ended 5 April 2021 ## _**South Heathercombe**_ The Trust’s South Heathercombe property, which it acquired in 2005, is a traditional Dartmoor long house dating back to the 15[th] century. It is occupied by the senior estate worker so that he can control activities in the valley and respond to emergencies. ## **Financial Review, Investment Policy and Reserves** The Trust’s policy on reserves is to endeavour to ensure long term financial sustainability for the achievement of the Trust’s charitable objectives, and in particular the maintenance of Heathercombe woodlands and gardens, by holding sufficient reserves in the form of investments so that the annual income therefrom, combined with any income from the Trust's properties and commercial forestry activity, is sufficient to cover the Trust’s annual expenditure. The Trustees will regularly consider whether there is a need to revise this policy. The Trustees adopted a revised Investment Policy Statement in January 2017. This sets out the overall approach of the Trust to investments and the broad framework within which decisions are made concerning investments. The Trustees will keep under review the arrangements under which J M Finn & Co acts as the Trustees’ stockbroker/adviser. The accounts disclose net income of £472,349 (2020 net expenditure: £363,691). Total income received was £56,897 (2020: £66,478). Expenditure totalled £157,164 (2020: £175,140). The realised and unrealised gains and losses on the investment portfolio during the year amounted to a net surplus of £572,616 (2020: deficit £255,029). The closing share investment portfolio valuation at 5 April 2021 amounted to £2,344,855 (2020: £1,782,139) and cash deposits, providing interest, of £44,602 (2020 - £57,088). The income generated from portfolio and cash deposits held is currently adequate for the needs of the Trust. ## **Future Plans** The Trustees will continue to manage the woodlands in and around Heathercombe in accordance with their April 2016 Statement of Policy and Objectives for the Management of Heathercombe Woodlands. This will focus in the coming years on the care of the young broadleaf and conifer trees planted since 2010 and on the wild flowers of Heathercombe. The Trustees plan to improve the information about the trees planted in the woodlands for the benefit of walkers on the footpaths running through Heathercombe and update the information on the Heathercombe website about the woodlands, gardens, wildlife and history of Heathercombe. The Trustees will continue to develop the woodland gardens and ways in which the public can enjoy them. The Trustees will also continue to make modest grants in accordance with the policy indicated above. ## **Statement of Trustees’ Responsibilities** The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust at the year end and of its incoming resources and resources expended during that year. In preparing those financial statements, the Trustees are required to: 6 ## **Claude & Margaret Pike Woodlands Trust** ## Reference and Administrative Details ## Year Ended 5 April 2021 - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgments and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions for the Trust Deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the Trustees Mr J D Pike 6 ## **Claude & Margaret Pike Woodlands Trust** ## Independent Examiners’ Report ## Year Ended 5 April 2021 I report to the Trustees on my examination of the account of the Claude & Margaret Pike Woodlands Trust for the year ended 5 April 2021 which are set out on pages 8 to 16. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the 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 applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S Austen FCCA Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF 7 ## **Claude & Margaret Pike Woodlands Trust** ## Statement of Financial Activities ## Year Ended 5 April 2021 |||**Unrestricted**|**Unrestricted**| |---|---|---|---| ||||**Fund**| |||**2021**|**2020**| ||**Note**|**£**|**£**| |**Income from**|||| |Donations and legacies|5|1,203|| |Investments|5|44,602|57,088| |Other activities|5|10,061|8,696| |Charitable activities|5|1,031|694| |||**––––––––**|––––––––| |**Total**||**56,897**|66,478| |||**––––––––**|––––––––| |**Expenditure**|||| |Charitable activities|6|**157,164**|175,140| |||**––––––––**|––––––––| |Net gains/(loss) on investments|10|572,616|(255,029)| |||**––––––––**|––––––––| |**Net income and**|||| |**Net movement in funds**||472,349|(363,691)| |||**══════**|══════| |**Reconciliation of Funds:**|||| |Total funds brought forward||**3,270,480**|3,634,171| |||**–––––**–**––**|––––––––| |**Total funds carried forward**||3,742,829|3,270,480| |||**══════**|══════| |**Represented by**|||| |Fixed assets||1,410,483|1,426,863| |Investments||2,344,855|1,782,139| |Current assets||53,937|108,834| |Current liabilities||(66,446)|(47,356)| |||**––––——**|––––——| |||3,742,829|3,270,480| |||══════|══════| All income and expenditure derive from continuing activities. The notes on pages 10 to 16 form part of these accounts. 8 ## **Claude & Margaret Pike Woodlands Trust** ## Balance Sheet ## Year Ended 5 April 2021 |||**2021**|**2020**| |---|---|---|---| ||**Note**|**£**|**£**| |**Fixed assets**|||| |Tangible assets|9|**1,410,483**|1,426,863| |Investments|10|**2,344,855**|1,782,139| |||**––––––––**|––––––––| |||**3,755,338**|3,209,002| |**Current assets**|||| |Debtors|11|**8,443**|3,979| |Cash at bank and in hand||**45,494**|104,855| |||**––––––––**|––––––––| |||**53,937**|108,834| |**Liabilities**|||| |Creditors – amounts falling due within one year|12|**(66,446)**|(47,356)| |||**––––––––**|––––––––| |**Net current assets**||**(12,509)**|61,478| |||**––––––––**|––––––––| |**Total net assets**||**3,742,829**|3,270,480| |||══════|══════| |**The funds of the charity:**|||| |||**––––––––**|––––––––| |Unrestricted funds||**3,742,829**|3,270,480| |||**══════**|══════| These accounts have been prepared in accordance with the financial reporting standard (effective January 2020). Signed on behalf of the Trustees on. ## Mr J D Pike **Trustee** The notes on pages 10 to 16 form part of these accounts. 9 ## **Claude & Margaret Pike Woodlands Trust** ## Notes and Accounting Policies ## Year Ended 5 April 2021 ## **1 General Information** The Claude & Margaret Pike Woodlands Trust is a charity registered with the Charity Commission under reference number 266072. It is held and administered by the Trustees in accordance with the Trust Deed dated 14 April 1973. The address of its principal place of business is: The Heathercombe Estate Manaton Newton Abbot Devon TQ13 9XE ## **2 Accounting Policies** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of these financial statements are as follows: ## **(a) Basic of preparation and assessment of going concern** - The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Charities SORP (FRS102) 2nd Edition and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. The accounts have been presented in sterling and rounded to the nearest £. The Trust constitutes a public benefit entity as defined by FRS 102. The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. ## **(b) Income recognition** - All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when receivable. Legacies are included where the Charity is advised by the personal representative of an estate that payment will be made or property transferred, and the amount involved can be quantified. Legacies subject to a life interest held by another party are not accounted for until their death. Investment income is recognised on a receivable basis when notified by the financial advisor. ## **(c) Expenditure recognition** - Expenditure is included on an accruals basis and is shown gross of irrecoverable VAT. All expenses including support costs, governance costs and management costs are allocated to charitable activities. Grants payable are recognised when payment is authorised, and the recipient notified. 10 ## **Claude & Margaret Pike Woodlands Trust** ## Notes and Accounting Policies ## Year Ended 5 April 2021 Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. ## **(d) Investments** Investments are a form of basic financial instrument and are originally recognised at their transaction value and subsequently measured at their fair value at the balance sheet date using the quoted market price. Realised and unrealised gains and losses on the investments are credited/charged directly to the Statement of Financial Activities. ## **(e) Fixed assets and depreciation** Fixed assets are included in the accounts at their historical cost with the exception of tangible assets donated which were included at market value at that time. Tangible assets other than freehold land are depreciated over their estimated useful lives, at the following rates:- Freehold buildings 2% straight line Property improvements 2% straight line Motor vehicles 25% reducing balance Fixtures and fittings 25% reducing balance ## **(f) Fund accounting** The Trust has only a general fund which it uses for charitable purposes at its discretion. ## 3 **Trustees’ Emoluments/Key Management Personnel** The Trustees are the key management personnel of the Trust. No Trustees receive any remuneration. Details of expenses reimbursed to Trustees are shown in note 13. ## 4 **Taxation** The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes. 11 ## **Claude & Margaret Pike Woodlands Trust** Notes and Accounting Policies |Year Ended 5 April 2021|Year Ended 5 April 2021||| |---|---|---|---| |5|**Income**|**2021**|**2020**| |||**£**|**£**| ||**(a) Donations and Legacies**||| ||Government Grants|1,203|-| ||(b)**Investment Income**||| ||Dividends|35,236|46,183| ||Foreign dividends|9,363|10,895| ||Bank interest|3|10| |||**–––––––**|–––––––| |||**44,602**|57,088| |||**–––––––**|–––––––| ||(c)**Other activities**||| ||Rent|7,380|7,380| ||Grazing|-|-| ||Wayleave|2,681|1,316| ||Other|-|-| |||**–––––––**|–––––––| |||**10,061**|8,696| |||**–––––––**|–––––––| ||(d)**Charitable activities**||| ||Sale of timber and woodland grants|**1,031**|694| |||**–––––––**|–––––––| ## 6 **Expenditure** |||**Activities**|**Grant**|**Total**|**Total**| |---|---|---|---|---|---| |||**undertaken**|**Funding**|**2021**|**2020**| |||**directly**|||| ||**Note**|**£**|**£**|**£**|**£**| |Charitable expenditure|7|**116,277**|-|**116,277**|150,854| |Support of other organisations|8|**-**|**20,000**|**20,000**|5,000| |Support of other charitable institutions|8|**-**|**7,416**|**7,416**|5,880| |Investment management costs||**10,047**|**-**|**10,047**|9,962| |_Governance_|||||| |Accountant - independent examination||**1,000**|**-**|**1,000**|1,000| |- Accountancy||**2,424**|**-**|**2,424**|2,444| |||**–––––––**|**–––––––**|**–––––––**|–––––––| |||**129,748**|**27,416**|**157,164**|175,140| |||**══════**|**══════**|**══════**|══════| 12 ## **Claude & Margaret Pike Woodlands Trust** Notes and Accounting Policies ## Year Ended 5 April 2021 |7|**Analysis of Charitable Expenditure**|**Analysis of Charitable Expenditure**|**2021**|**2020**| |---|---|---|---|---| ||||**£**|**£**| ||Employment costs||58,905|74,431| ||Depreciation||16,432|18,147| ||(Profit)/Loss on disposal of tangible fixed assets||**-**|-| ||Amenity Woodlands|Maintenance & repair costs|12,231|11,240| ||Forestry|Fountain Forestry Ltd costs|12,366|32,679| |||Forestry insurance|2,863|2,562| ||High Heathercombe|Repairs and improvements|6,353|1,322| ||South Heathercombe|Repairs and maintenance|551|5,287| ||(including Wayside)|Council tax etc, insurance, heating|6,576|5,186| ||||**–––––––**|–––––––| ||||**116,277**|150,854| ||||**–––––––**|–––––––| Included in the accounts are recharged wages and costs of £58,905 (2020: £74,431) relating to 3 employees, the average number in the period. The Trust’s share of Employer National Insurance contributions amount to £2,228 (2020: £3,549). Included in wage costs is a provision for pension contributions of £2,944 (2020: £3,646). No employees were paid in excess of £60,000. |8|**Analysis of Grants Payable**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| ||Charitable grants|7,416|5,880| ||Newton Abbot Town Council – for the Newton’s Place museum project|**-**|-| ||Grant to High Heathercombe CIC (note 13)|20,000|5,000| |||**–––––––**|–––––––| |||27,416|10,880| |||**–––––––**|–––––––| Grants totalling £27,416 were paid to 10 organisations during the year. The following grants to organisations were made during the year: |£1,250|MED Theatre| |---|---| |£20,000|High Heathercombe CIC| |£50|Devon Birdwatching & Preservation Society| |£30|International Tree Foundation| |£100|Cornwall Gardens Trust| |£500|British Red Cross| |£750|Stover Historic Landscape Trust| |£236|Buckland & Milber Youth Club| |£2,000|Homeless in Teignbridge Support| |£2,500|Dean & Chapter of Exeter| 13 ## **Claude & Margaret Pike Woodlands Trust** ## Notes and Accounting Policies ## Year Ended 5 April 2021 ## 9 **Tangible Fixed Assets** ||**Freehold land**|
**Property**|**Fixtures**|**Motor**|| |---|---|---|---|---|---| ||**and buildings**|**improvements**|**and fittings**|**Vehicles**|**Total**| ||**£**|
**£**|**£**|**£**|**£**| |**Cost**|||||| |At 5 April 2020|1,341,297|
225,035|75,952|38,731|1,681,015| |Additions|-|
-|52|-|52| |Disposals|||||| ||–––––––|
–––––––|–––––––|–––––––|–––––––| |**At 5 April 2021**|1,341,297|
225,035|76,004|38,731|1,681,067| ||══════|
══════|══════|══════|══════| |**Depreciation**|||||| |At 5 April 2020|95,348|
64,829|68,521|25,454|254,152| |Eliminated on disposals|||||| |Charge for the year|6,536|
4,700|1,878|3,318|16,432| ||–––––––|
–––––––|–––––––|–––––––|–––––––| |**At 5 April 2021**|101,884|
69,529|70,399|28,772|270,584| ||══════|
══════|══════|══════|══════| |**Net book value**|||||| |**At 5 April 2021**|**1,239,413**|
**155,506**|**5,605**|**9,959**|**1,410,483**| ||**══════**|
**══════**|**══════**|**══════**|**══════**| |At 5 April 2020|1,252,949|
160,206|7,431|13,277|1,426,863| ||══════|
══════|══════|══════|══════| The above are all used in direct furtherance of the Trust’s objects 14 ## **Claude & Margaret Pike Woodlands Trust** Notes and Accounting Policies |Year Ended 5 April 2021||| |---|---|---| |10**Fixed Asset Investments**|**2021**|**2020**| ||**£**|**£**| |Quoted investments:||| |Market value at 6 April 2020 (Including cash)|1,782,139|2,198,509| |Additions|103,541|294,298| |Disposals|(103,394)|(445,677)| |Fair value adjustment|572,616|(255,029)| |Management fees|(10,047)|(9,962)| ||**––––––––**|––––––––| |**Market value at 5 April 2021 (Including cash)**|2,344,855|1,782,139| ||**══════**|══════| |Net cash released from investments in the year was £Nil (2020: 150,000)||| |Investments in UK (Including cash)|1,838,201|1,415,510| |Investments outside the UK|506,654|366,629| ||**––––––––**|––––––––| ||**2,344,855**|1,782,139| ||**══════**|══════| |Historical cost at 5 April 2021 (Including cash)|1,523,526|1,517,778| ||**══════**|══════| |11**Debtors**|**2021**|**2020**| ||**£**|**£**| |VAT|494|2,149| |Trade Debtor|1,646|1,830| |Other debtors|6,303|-| ||**–––––––**|–––––––| ||8,443|3,979| ||**══════**|══════| The Trust is also entitled to three bequests subject to life interests held by another party which have not been accrued in these accounts. |12|**Creditors – Amounts Falling Due Within One Year**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| ||Trade creditors|**1,078**|13,014| ||Other creditors|**59,368**|31,342| ||VAT|-|-| ||Accruals|**6,000**|3,000| |||**–––––––**|–––––––| |||**66,446**|47,356| |||**══════**|══════| 15 ## 13 **Related Party Transactions** - a) None of the Trustees were remunerated during the year (2020: Nil). - b) Three workers employed by J D Pike, S S Pike and P A D Holland, the Trustees, were engaged on a part time basis to maintain, repair and develop the amenity woodlands, High Heathercombe and South Heathercombe. The Trust reimburses J D Pike the expenses that are attributable to their engagement by the Trust. - c) No expenses are paid to Trustees other than the reimbursement of expenses borne on behalf of the Trust which amounted to £62,812 (2020: £78,487) and included £55,905 of wages’ costs. At the year-end £59,368 was owed to the trustees by the trust (2020: £31,342). - d) During the year, the Trust received an income of £7,380 (2020: £7,380) in respect of the living accommodation at South Heathercombe occupied by an estate worker employed by J D Pike, S S Pike and P A D Holland. - e) The High Heathercombe Centre owned by this Trust is occupied by High Heathercombe CIC, a Community Interest Company (formerly High Heathercombe Trust), the directors of which during the year were J D Pike, Dr P A D Holland, The directors received no salaries or benefits from High Heathercombe Trust. During the year this Trust paid expenses relating to High Heathercombe Trust of £6,352 (2020: £1,322) for repairs and accountancy and £14,680 (2020: £9,538) for wages. In addition, a grant of £20,000 (2020: £5,000) was made to High Heathercombe Trust to support its activities. The Trustees consider that the activities of High Heathercombe Trust are in line with the aims of this Trust and therefore can be properly supported. 16 ## **Claude & Margaret Pike Woodlands Trust** ## Appendix A Year Ended 5 April 2021 Listed Investments Year ended 5 April 2021 |Listed Investments
Year ended 5 April 2021||||| |---|---|---|---|---| ||||**Closing**|**Opening**| |**UK Equities**|**Number**|**Cost**|**Valuation**|**Valuation**| |3I Group|1,700|19,762|31,685|11,703| |Artemis|-|-|-|19,462| |Astrazeneca|260|14,887|18,647|18,574| |AXA Framinligton Unit Management|3,881|6,994|24,491|14,945| |Bankers Investment Trust|1,920|19,890|21,312|15,264| |Bayer AG|250|-|-|11,719| |BP|6,000|35,939|17,388|20,238| |Carne Global Fund|70|19,605|28,826|19,165| |Croda International|658|20,160|42,230|27,064| |Dechra Pharmaceuticals|930|19,906|32,011|22,246| |Diploma|1,200|9,902|31,152|16,980| |EcoFin GBL|13,600|19,778|24,548|18,700| |European Opportunities Trust|3,450|14,919|24,116|22,080| |First state investments uk|13,500|14,661|28,189|24,714| |First state investments uk|1,790|10,653|17,232|11,944| |Fisher (James) & Son|740|9,952|8,362|9,694| |GAM Star Fund|990|15,420|48,977|35,121| |GCP Infrastructure investments ltd|14,279|14,963|14,593|16,050| |GCP Student Living|14,400|16,534|22,349|18,374| |Melrose Industries (takeover GKN)|14,968|11,084|25,978|11,265| |Halma|1,500|12,663|36,570|28,343| |HSBC|-|-|-|13,616| |Impax Environmental|5,800|17,903|25,636|14,268| |Johnson & Johnson|320|20,122|37,598|34,994| |Legal & General Group|10,960|12,751|31,072|17,503| |Lloyds TSB|-|-|-|6,073| |LXI Reit PLC|23,500|24,973|29,516|24,816| |Marlb Multi P Inco|22,100|34,145|33,035|24,964| |M & G Investment Management Ltd|-|-|-|2,735| |National grid|-|-|-|23,150| |Ocado Group PLC|1,550|30,027|32,426|21,150| |Old Mutual Fund managers|12,500|8,930|47,000|25,063| |Project Finance Investments - CGP Asset|24,500|25,154|22,785|18,375| |Prudential|-|-|-|23,005| |R&M UK|6,800|24,254|45,570|26,448| |Reckitt Benckiser|350|6,449|22,740|21,882| |Reliance AMS India Equities P|110|14,694|19,868|12,016| |Renishaw|590|8,113|38,173|16,308| |Rio Tinto|852|30,051|46,690|32,044| |Roche Holdings AG|80|14,719|18,757|21,538| |Royal Dutch Shell|2,043|30,654|27,282|28,978| |Securities Trust of Scotland|13,600|20,021|27,200|21,692| |Smith & Nephew|1,420|6,413|19,305|19,355| |Smithson Investment Trust PLC|1,930|29,500|32,115|-| |SVS Church House Inv Grade FXD XL IN|18,059|19,489|21,797|20,624| 17 ## **Claude & Margaret Pike Woodlands Trust** Appendix A continued Year Ended 5 April 2021 |**Number**
Spectris
800
Spirax-Sarco Engineering
435
Unilever NV Euro.16
625
**Total UK Equities**
**UK Unit Trusts**
**Number**
Aberdeen Investment Funds ICVC III
29,856
Aegon Asset Management UK Plc
18,800
BB Healthcare Trust PLC
20,000
PFS - Dynamic Bond
Fidelity special values
16,000
Henderson Global Investors
21,868
Home REIT PLC
20,000
Malborough fund
1,543
Monks Inv Tst
2,950
PFS - Dynamic Bond
170
SHCR Strat Credit
25,000
BGBP 2.58938
9,500
Scottish Mortgage Invest
6,500
UK Treasury stock 1.25%
34,700
UK Treasury stock 2.5% 2024
23,900
COIF
12,681
**Total UK Unit Trusts**
**Total UK Equities and Unit Trusts**
**Foreign Equities**
**Number**
Amazon COM INC
16
BB Biotech AG CHFI
420
CC Japan Inc & Gth Convertibles
20,000
CC Japan Income and Growth
4,000
Civitas Social Housing PLC
24,500
EcoFin US Renewables
26,000
Findley Park Funds PLC
290
Hermes Investment
9,500
Linde PLC COM (Merged with Linde AG)
181
Loreal
80
Mondelez intl inc
650
Nestle SA
365
Novartis AG
355
Paypal Holdings
210
Polar capital funds
11,645
Polar capital Auto AIS
1,730
Symrise AG Npv
320
Visa Inc
145
Walt Disney
275|**Closing**
**Opening**
**Cost**
**Valuation**
**Valuation**
11,781
27,328
18,368
4,599
50,417
34,191
19,594
25,114
24,369
**722,007**
**1,180,078**
**941,167**
**Closing**
**Opening**
**Cost**
**Valuation**
**Valuation**
29,310
32,307
29,023
24,666
24,513
-
20,170
37,800
24,200
-
-
16,785
19,885
43,360
26,208
26,448
31,052
28,669
20,170
22,800
-
11,225
36,662
19,975
24,974
40,474
22,361
19,405
19,429
-
24,641
24,100
21,110
24,793
26,505
18,126
24,974
42,369
35,003
68,040
69,001
69,579
72,391
85,204
86,160
50,000
83,979
70,278
**461,092**
**619,554**
**467,476**
**1,183,098**
**1,799,632**
**1,408,642**
**Closing**
**Opening**
**Cost**
**Valuation**
**Valuation**
18,989
37,117
24,864
16,261
27,054
18,676
20,170
28,350
20,900
428
320
-
25,173
26,362
23,643
19,270
19,175
-
6,758
34,443
26,695
19,923
18,782
12,184
14,865
36,511
24,003
14,875
22,003
16,657
10,889
27,487
26,908
13,607
29,569
31,170
12,572
22,117
24,182
19,751
37,898
15,814
19,067
28,297
22,941
14,866
22,594
14,653
14,779
28,474
24,353
20,011
22,834
17,946
19,605
37,268
21,042| |---|---| 18 ## **Claude & Margaret Pike Woodlands Trust** |Appendix A continued
Year Ended 5 April 2021
**Total Foreign Investments**
**Cash balance held**
**Total Investments**|**301,859**
**506,654**
**366,629**
**38,569**
**38,569**
**6,868**
**1,523,526**
**2,344,855**
**1,782,139**| |---|---| 19