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2022-04-05-accounts

Claude & Margaret Pike Woodlands Trust Annual Report Year Ended 5 April 2022

Claude & Margaret Pike Woodlands Trust

Accounts

Year ended 5 April 2022

Contents Page
Reference and administrative details 1
2
Independent 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 2022

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

The Co-operative Bank plc 1 Balloon Street Manchester M60 4EP

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 2022

The Trustees present their annual report along with the Financial Statements of the Trust for the year ended 5 April 2022. The financial statements have been prepared in accordance with the accounting policies set 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:

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.

benefit at their Trustee meetings.

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. - election 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 environmental objects.

2

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2022

The Trust approved charitable donations during the year to five organisations totalling £1,930. These were financed by interest and dividends received from investments. The major donations were as follows:

MED Theatre - £1,250 British Red Cross - £500 Cornwall Gardens Trust -£100 Devon Birds - £50 International Tree Foundation - £30

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 and 22.9 hectares known as Lower Langdon Wood - a total of approximately 114 hectares.

The woodlands are in an environmentally sensitive area adjacent to the open moor and are part of the of western Britain with many plants such as ferns, mosses and lichens that are associated with that habitat. 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:

3

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2022

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

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.

A survey of wild flowers in Heathercombe was carried out during the summer and is ongoing. The results can be compared with those of the survey conduced by David Rogers in the summer of 2005 as part of the ecological survey of Heathercombe that he carried out then. The recent survey has so far identified 167 wild flowers (including 18 non-natives) (compared with 129 identified in 2005), 51 grasses, rushes and sedges (36 in 2005) and 16 ferns and horsetails (12 in 2005). Of the wild flowers, one is categorised in England as endangered, 5 as vulnerable and 14 as near-threatened. 6 are rare or very rare in Devon. This ongoing work will help the Trustees protect and enhance the habitats of the plants at risk.

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 Trustees decided that Gratnar Wood in North Bovey parish should be sold. This small wood is over one mile from Heathercombe and is relatively isolated from the remainder of the Heathercombe estate. It is 6.7 hectares in area and includes 3.6 hectares of good quality Douglas fir and Sitka spruce and 1.7 hectares of poor quality Scots pine and beech. Because of the narrow access lane it is not possible to use the timber harvesting machinery normally used at Heathercombe. The Trustees were advised by John Clegg of Tustins that the recommended guide price at which the wood should be offered was £97,500. The sale price agreed was £110,000 and the sale was completed in January 2022.

Public Access

Heathercombe woodlands are open to visits by arrangement at any time of the year. Details of all access restricted to avoid conflict with tree-felling and similar management activities, to prevent the spread of disease or when high winds pose a danger of falling branches or windthrow. Camping and fires are not permitted, the public being alerted at times of high fire risk.

Visits by arrangement between April and October are for the benefit of the charities of the National Garden Scheme which advertises this facility in its annuallyand receives the visitor fee, currently £6 per adult. In addition, the woodland gardens are normally open on bluebells, many shrubs and meadow flowers are in bloom. Visitors are provided with a guide leaflet and have the benefit of signage around the grounds. Self service teas are made available but picnicking is encouraged. These open days are for the financial benefit of the charities of the National Gardens Scheme which advertises the open days and receives the visitor fee of £6 per adult.

4

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2022

Heathercombe open gardens were very popular in 2021, partly as a consequence of relief from the Covid lockdowns, which the open garden dates fortunately avoided. The gardens were open to the public under the National Garden Scheme for 37 days, the first on 28th March and subsequently on every day except Monday in most weeks between 9th May and 4th July. In addition, between April and October. A total of 1,003 people visited the gardens, of whom 771 paid for their tickets in advance on the NGS website and 232 paid in cash on arrival. Donations were biscuits. The total proceeds were £5,800, of which £3,635 was paid to the NGS charities and £2,165 to Rowcroft Hospice.

Included amongst the visitors were groups from Exeter University Retired Staff Association and the Dartmoor Society. The teas were offered on a self-service basis in the yard at the rear of Heathercombe North as the garden and tea rooms in South Heathercombe were closed to protect a highly vulnerable resident from Covid infection.

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. Tarn Lamb, who is CEO of the charity Cornwall Neighbourhoods for Change (a user of the Centre) and a recent England Committee Member of the Big Lottery, joined the board in November 2020.

Until her death in July 2020 the Centre had been run by a resident manager, Mel Lamb with assistance from resident volunteers. Following death the Centre remained closed because of Covid restrictions until July 2021. In anticipation of the re-opening of the Centre and in order to reduce running costs, in April 2021 the directors appointed a resident housekeeper instead of a manager whose job it was to clean and look after the Centre and greet groups staying there and deal with issues arising out of their stays.

Between July and December 2021 activity at the Centre resumed, albeit at a lower level than prior to the pandemic, and on a self-catering basis only, with 13 groups staying that had stayed in the past, running courses that included permaculture, drug rehabilitation, meditation, disadvantaged family group stays and dance. A further six groups stayed between January and March 2022.

The opportunity was taken while the Centre was closed to carry out repairs and improvements to the

South Heathercombe

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

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 s a need to revise this policy.

5

Claude & Margaret Pike Woodlands Trust

Reference and Administrative Details

Year Ended 5 April 2022

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

The accounts disclose a net increase in funds of £504,858 (2021: £472,348).

Total income received was £267,761 (2021: £56,897). Expenditure totalled £169,992 (2021: £157,164).

In August 2021 the Trustees were very pleased to receive a generous donation of £100,000 towards the work of the Trust.

The realised and unrealised gains and losses on the investment portfolio during the year amounted to a net surplus of £407,089 (2021: surplus £572,616).

The closing share investment portfolio valuation at 5 April 2022 amounted to £2,642,730 (2021: £2,344,855) and cash deposits, providing interest, of £50,324 (2021 - £44,602). 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 continue to focus on the care of the young broadleaf and conifer trees planted since 2010 and on wild flowers, with increasing focus on the ferns, mosses, liverworts, lichens and fungi of Heathercombe, recognising the importance of its habitat as part of the west of Britain.

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.

The Trustees will investigate the possibility of converting the Trust into a Charitable Incorporated Organisation (CIO) so as to make it easier to attract new charity trustees having a wider range of skills and interests.

Responsibilities

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 2022 prepare the flnancial statements on the going concem basis unless il Is Inappropriate to presume that the Trust will corrtinue in buslnes5. The Trustees are ￿sponsible for keeping proper accounting records which disclose wth reasonable accuracy al any lime the financial posltion of the Trust and enable them to ensur8 that the financial statements comply wtth the Chanties Act 2011. the applicable Charities (Accounts and Reports) Regulations, and the provisions for the Trust Oeed. They a￿ also resporbsible for safeguarding the asset8 of the Tfust 8nd hence for taking reasonable steps for the preventton and detecllon of fraud and other irregularities. Slgned on beha￿ of the Tnjstees MrJDPike

Claude & Margaret Pike Woodlands Trust

Year Ended 5 April 2022

I report to the Trustees on my examination of the account of the Claude & Margaret Pike Woodlands Trust for the year ended 5 April 2022 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 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.

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 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

8

Claude & Margaret Pike Woodlands Trust

Statement of Financial Activities

Year Ended 5 April 2022

Note
Income from
Donations and legacies
5
Investments
5
Other activities
5
Charitable activities
5
Total
Expenditure
Charitable activities
6
Net gains/(loss) on investments
10
Net income and
Net movement in funds
Reconciliation of Funds:
Total funds brought forward

Total funds carried forward

Represented by
Fixed assets

Investments

Current assets
Current liabilities
 Unrestricted
Fund
2022
2021
£
£
125,000 1,203
50,324
44,602
90,967
10,061
1,470
1,031
267,761
56,897
169,992
157,164
407,089
572,616
504,858
472,349
3,742,829
3,270,480
4,247,687
3,742,829
1,370,095
1,410,483
2,642,730
2,344,855
323,150
53,937
(88,288)
(66,446)
4,247,687
3,742,829

All income and expenditure derive from continuing activities.

The notes on pages 10 to 16 form part of these accounts.

9

Claude & Margaret Pike Woodlands Trust Balance Sheet Year Ended 5 April 2022 2022 2021 Nol& Flx•d assets T8ngible assets Investments 1,370.095 2,642,731 1,410,483 2,344,855 10 4,012,826 3.755338 Current assets Debtors Cash at bank and in hand 11 27,594 295,556 8,443 45,494 323.150 53,937 Liabilities Creditors- amounts falling due wthin one year 12 188,2891 (66,446) Net cUr￿n1 assets 234,861 112,509) Total net assets 4,247,687 3,742,829 The funds of the ¢harlty: Unrestricted funds 4,247,687 3,742.829 Thes8 accounts have been prepared in accordance wlth Ihe financial reporting standard leffectlva January 2020). Sign8d on behalF of thè Trust80$ on 2 February 2023. MrJ DPike TTUSteo The notes on pages 10 to 16 fomi part of thase accounts. 10

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022

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.

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.

.

11

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022

(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 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

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.

12

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022

5
Income
(a) Donations and Legacies
Government Grants
Donations
(b)Investment Income
Dividends
Foreign dividends
Bank interest
(c)Other activities
Rent
Grazing
Wayleave
Gain on disposal of fixed assets
(d)Charitable activities
Sale of timber and woodland grants
6
Expenditure
Activities
undertaken
directly
Note
£
Charitable expenditure
7
151,586
Support of other organisations
8
-
Support of other charitable institutions
8
-
Investment management costs
11,180
Governance
Accountant - independent examination
1,000
- Accountancy
4,296
168,062


Grant
Funding
£
-
-
1,930
-
-
-
1,930		 2022
£

-
125,000
125,000
41,710
8,607
7
50,324
7,500
-
1,140
82,327
90,967
1,470
Total
2022
£
151,586
-
1,930
11,180
1,000
4,296
169,992		 2021
£
1,203
-
1,203
35,236
9,363
3
44,602
7,380
-
2,681
-
10,061
1,031
Total
2021
£
116,277
20,000
7,416
10,047
1,000
2,424
157,164

13

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022

7
Analysis of Charitable Expenditure
Employment costs
Depreciation
Amenity Woodlands Maintenance & repair costs
Forestry
Fountains Forestry Ltd costs
Forestry insurance
High Heathercombe Repairs and improvements
South Heathercombe Repairs and maintenance
(including Wayside)
Council tax etc, insurance, heating		 2022
2021
£
£
81,025
58,905
15,133
16,432
16,993
12,231
20,218
12,366
3,046
2,863
6,439
6,353
2,896
551
5,836
6,576
151,586
116,277

Included in the accounts are recharged wages and costs of £81,025 (2020: £58,905) relating to 3 contributions amount to £3,398 (2021: £2,228). Included in wage costs is a provision for pension contributions of £4,027 (2021: £2,944).

No employees were paid in excess of £60,000.

8
Analysis of Grants Payable
Charitable grants
Newton Abbot Town Council
Grant to High Heathercombe CIC (note 13)		 2022
2021
£
£
1,930
7,416
-
-
-
20,000
1,930
27,416

Grants totalling £1,930 were paid to 5 organisations during the year.

The following grants to organisations were made during the year:

MED Theatre £1,250
Devon Birds £50
International Tree Foundation £30
Cornwall Gardens Trust £100
British Red Cross £500

14

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022

9 Tangible Fixed Assets

Freehold land
Property
Fixtures
and buildings improvements and fittings
£
£
£
Cost
At 5 April 2021
1,341,297
225,035
76,004
Additions
-
-
-
Disposals
(25,251)
-
-
At 5 April 2022
1,316,046
225,035
76,004
Depreciation
At 5 April 2021
101,884 69,529
70,399
Eliminated on disposals
Charge for the year
6,536
4,700
1,407
At 5 April 2022
108,420
74,229
71,806
Net book value
At 5 April 2022
1,207,626
150,806
4,198
At 5 April 2021
1,239,413
155,506
5,605		 Motor
Vehicles
Total
£
£
38,731
1,681,067
-
-
-
(25,251)
38,731
1,655,816
28,772
270,584
2,490
15,133
31,266
285,721
7,465
1,370,095
9,959
1,410,483

15

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022
10Fixed Asset Investments 2022 2021
£ £
Quoted investments:
Market value at 6 April 2021 (Including cash) 2,344,855 1,782,139
Additions 249,389 103,541
Disposals (275,014) (145,143)
Fair value adjustment 358,226 572,616
Movement in cash (34,726) 31,702
Market value at 5 April 2022 (Including cash) 2,642,730 2,344,855
Net cash released from investments in the year was £100,000 (2021: Nil)
Investments in UK (Including cash) 1,860,453 1,838,201
Investments outside the UK 782,278 506,654
2,642,730 2,344,855
Historical cost at 5 April 2022 (Including cash) 1,694,600 1,523,526
11Debtors 2022 2021
£ £
VAT 1,028 494
Trade Debtor 1,566 1,646
Other debtors 25,000 6,303
27,594 8,443

The Trust is also entitled to three bequests subject to life interests held by another party which have not been accrued in these accounts.

12Creditors
Amounts Falling Due Within One Year
Trade creditors
Other creditors
VAT
Accruals		 2022
2021
£
£
-
1,078
84,588
59,368
-
-
3,700
6,000
88,288
66,446

16

Claude & Margaret Pike Woodlands Trust

Notes and Accounting Policies

Year Ended 5 April 2022

13 Related Party Transactions

17