Registered Charity No. 268964
Carew Pole Garden Trust
Financial Statements for the Year Ended 31 March 2022
Carew Pole Garden Trust
Financial Statements
Year ended 31 March 2022
| Contents | Page |
|---|---|
| Trustees' Annual Report | 1 - 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Accounts | 8 - 18 |
1
Carew Pole Garden Trust
Registered Charity number 268964
Trustees’ Report
Year ended 31 March 2022
The Trustees present their Annual Report and the financial statements for the year ended 31 March 2022. They are satisfied that the financial statements comply with the requirements of the Charities Act 2011, the Trust Deed and the recommendations of the 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 (FRS 102) - (charities - SORP 2019 – (FRS102)).
Objectives and Activities
In planning our activity for the year, we kept in mind the Charity Commission guidance on public benefit. The trust gardens are gardens for the enjoyment of the public and for the purpose of research, with a view to the furtherance of the study and science of botany and the increase of knowledge in respect thereof and the improvement of the methods and practice of horticulture. The Antony Woodland Gardens are open for public viewing for 8 months of the year and house the National Plant Collection for Camellia Japonica.
Achievements and Performance
During the year ended 31 March 2022 the trustees paid £83,861 towards the upkeep of the gardens, which are open for public viewing for 8 months of the year.
The charity incurred investment management fees of £6,170, property expenses of £12,339, advertising and marketing costs of £5,622 and other costs of £18,235.
Financial Review
The trustees’ investment property and quoted investments are held with a view to producing income for maintenance of the gardens, with the exception of one cottage which is occupied by a garden employee. The quoted investments are shown at current market value whereas the investment property is professionally valued periodically.
During the year, the charity received income of £6,941 from its portfolio of stock market investments, £73,982 from its investment properties, £15,995 from admission fees and £15,320 from timber.
There was an overall surplus of £8,432 for the year to 31 March 2022 (2021: surplus £95,096). This includes £19,987 profit on sales, foreign currency holdings and the revaluation of financial investments (2021: profit £110,571).
2
Carew Pole Garden Trust
Registered Charity number 268964
Trustees’ Report (continued)
Year ended 31 March 2022
Reserves Policy
The trustees continually monitor the level of unrestricted income funds. The charity had unrestricted funds of £1,818,209 at 31 March 2022. The breakdown of net assets between funds is shown in note 11. Net Assets at 31 March 2022 included an aggregate £1,868,314 in respect of quoted investments, investment property, heritage assets and tangible fixed assets which the trustees intend to maintain in order to generate income for distribution to future beneficiaries. The charity has net current liabilities of £14,018 (2021: net current liabilities of £14,482).
3
Carew Pole Garden Trust
Registered Charity number 268964
Trustees’ Report (continued)
Year ended 31 March 2022
Structure, Governance and Management
The Charity was created by the late Sir John Carew Pole Bt under a Deed of Trust dated 1 January 1975 to apply funds for the purpose of maintaining the gardens adjacent to Antony House, Torpoint, Cornwall. The Trustees have since acquired other parcels of land which also form part of the trust gardens.
The Trustees who have served during the year and since the year end are set out below. The power to appoint new Trustees is vested in the continuing Trustees. The Trustees have wide powers to apply both income and capital in furtherance of the Charity’s objectives and wide powers of investment.
Any new trustees would be given an introduction to the Charity and would be given sufficient training to ensure that they are properly able to fulfil their responsibilities.
Reference and Administrative Details
| Holding Trustees | Tremayne Carew Pole |
|---|---|
| Sir Ferrers Vyvyan Bt | |
| Sam Galsworthy | |
| Management Committee Trustees | Sir Richard Carew Pole Bt, OBE |
| Lady Mary Carew Pole DCVO | |
| Tremayne Carew Pole | |
| Sir Ferrers Vyvyan Bt | |
| Sam Galsworthy | |
| Charity Number | 268964 |
| Principal Address | Antony House |
| Torpoint | |
| Cornwall | |
| PL11 3AB | |
| Legal Advisers | Boodle Hatfield LLP |
| 240 Blackfriars Road | |
| London | |
| SE1 8NW | |
| Independent Examiner | Neil Hitchings FCA |
| Centenary House | |
| Peninsula park | |
| Rydon Lane | |
| Exeter | |
| EX2 7XE | |
| Investment Advisers | Ruffer LLP |
| 80 Victoria Street | |
| London | |
| SW1E 5JL |
4
Carew Pole Garden Trust
Registered Charity number 268964
Trustees’ Report (continued)
Year ended 31 March 2022
Reference and Administrative Details (continued)
Bankers Lloyds Bank plc Royal Parade Plymouth PL1 1DS
Trustees’ Responsibilities in Relation to the Financial Statements
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).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements the trustees are required to:
a) select suitable accounting policies and then apply them consistently;
b) observe the methods and principles in the applicable Charities SORP;
c) make judgements and estimates that are reasonable and prudent;
d) state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
e) prepare the financial statements on the going basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Declaration
We approve the attached accounts set out on pages 6 to 18 for the year ended 31 March 2022 and confirm that we have made available all the relevant records and information required for their preparation.
Tremayne Carew Pole For and on behalf of the Trustees
Date:
5
Carew Pole Garden Trust
Registered Charity number 268964
Independent Examiner's Report to the Trustees
Year ended 31 March 2022
I report to the trustees on my examination of the accounts of the Carew Pole Garden Trust ('the Trust') for the year ended 31 March 2022
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
Signed:
Date:
Name of principal: Neil Hitchings FCA Name of firm: Francis Clark LLP Relevant professional qualification or body: ICAEW Address: Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE
6
Carew Pole Garden Trust
Statement of Financial Activities
| Year ended 31 March 2022 Unrestricted Funds Note £ Income from: Investments Investment income 6,941 Income from property 73,982 Charitable activities Admission receipts 15,995 Other trading activities Broomhill Cottage Tea Rooms & Gift Shop 13 - Garden work services 2,106 Timber income 15,320 Donations and legacies Donations 20 328 Grant income - Total income 114,672 Expenditure on: Raising funds Investment management fees 6,170 Property expenses 14 12,339 Advertising and marketing 5,622 Charitable activities Garden expenses 15 83,656 Other 16 18,235 Total expenditure (126,022) Net expenditure before gains on investments (11,350) Net gains on investments 5 22,384 Realised (losses) / gains on foreign currency holdings (2,397) Net movement in funds 8,637 Reconciliation of funds Total funds balance brought forward at 1 April 2021 1,809,572 Total funds balance carried forward at 31 March 2022 1,818,209 |
Restricted Funds £ - - - - - - - - - - - - 205 - (205) (205) - - (205) 32,071 31,866 |
Total Funds Total Funds Year to Year to 31 Mar 2022 31 Mar 2021 £ £ 6,941 5,822 73,982 74,091 15,995 5,167 - (1,224) 2,106 4,578 15,320 500 328 942 - 10,000 114,672 99,876 6,170 5,251 12,339 5,687 5,622 1,118 83,861 81,342 18,235 21,953 (126,227) (115,351) (11,555) (15,475) 22,384 108,818 (2,397) 1,753 8,432 95,096 1,841,643 1,746,547 1,850,075 1,841,643 |
|---|---|---|
The notes on pages 8 to 18 form part of these financial statements.
7
Carew Pole Garden Trust
Balance Sheet
As at 31 March 2022
| Note Fixed Assets Heritage Assets Property 3 Sculpture 3 Investment Property 4 Quoted Investments 5 Tangible Fixed Assets 6 Current Assets Debtors 7 Cash at bank and in hand 8 Creditors: Amounts falling due within one year 9 Net Current Liabilities Creditors: Amounts falling due after more than one year 10 Net Assets The funds of the charity Unrestricted funds 11 Restricted funds 11 |
£ £ £ £ 348,694 348,694 38,400 38,400 910,000 910,000 548,744 551,299 22,476 15,649 1,868,314 1,864,042 11,289 2,854 45,388 36,839 56,677 39,693 (70,695) (54,175) (14,018) (14,482) (4,221) (7,917) 1,850,075 1,841,643 1,818,209 1,809,572 31,866 32,071 1,850,075 1,841,643 2022 2021 |
£ £ £ £ 348,694 348,694 38,400 38,400 910,000 910,000 548,744 551,299 22,476 15,649 1,868,314 1,864,042 11,289 2,854 45,388 36,839 56,677 39,693 (70,695) (54,175) (14,018) (14,482) (4,221) (7,917) 1,850,075 1,841,643 1,818,209 1,809,572 31,866 32,071 1,850,075 1,841,643 2022 2021 |
|---|---|---|
| (7,917) 1,841,643 |
||
| 1,809,572 32,071 |
||
| 1,841,643 |
The financial statements on pages 6 to 18 were approved by the Trustees on and signed on their behalf by:
Tremayne Carew Pole
The notes on pages 8 to 18 form part of these financial statements.
8
Carew Pole Garden Trust
Notes to the Financial Statements
Year ended 31 March 2022
1 General Information
Carew Pole Garden Trust is an unincorporated charitable trust registered as a charity in England and Wales. Details of the charity, including the Principal Address, are included in Reference and Administrative details in the Trustees' Report.
2 Accounting Policies
Year end date
Although nominally described as 31 March 2022, these financial statements have been prepared with an effective cut-off date of 5 April 2022 to coincide with the stock broker tax year end packs.
Basis of preparation
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments.
The financial statements have been prepared in accordance with Accounting 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 (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) regulations 2008 only to the extent required to provide a 'true and fair view'. The departure has involved following Accounting and Reporting applicable in the UK and Republic of Ireland (FRS102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.
The trustees have assessed the charity's activities with regard to the Charity Commission's guidance on public benefit. The Carew Pole Garden Trust meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared on a going concern basis and the Trustees are not aware of any material uncertainties that would cast doubt on the charity's ability to continue as a going concern.
The presentational currency of the Carew Pole Garden Trust is considered to be Pounds Sterling as that is the currency of the primary economic environmental in which the trust operates.
Heritage Assets
The charity holds heritage assets, which are tangible fixed assets of historical, artistic or scientific importance that are held to advance preservation and conservation objectives of the charity. Newly purchased heritage assets are capitalised and included at cost including any incidental expenses of acquisition.
Heritage property is revalued periodically and is included at the latest valuation.
Heritage sculptures are carried at cost less impairment.
The Green Man sculpture is of artistic importance. The carrying value represents the initial value of the asset when originally purchased by the Trust. The trustees consider there has been no impairment of the asset.
The very long expected lives of heritage assets, due to their nature, value and need to be protected and preserved means that depreciation is not material and is, therefore, not provided.
9
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
2 Accounting Policies (continued)
Heritage Assets (continued)
The value of the heritage assets does not include the gifts made by Sir Richard and Lady Mary Carew Pole on 8 September 2005. They both gifted their half share in a sculpture known as the “Wrapt”. Sir Richard also gifted three pieces of Delabole slate and Standing Stone all inscribed by Tom Perkins.
Tangible Assets (other than Heritage Assets)
Other tangible assets comprise equipment which is intended for ongoing use either in pursuit of the charity's objects or in the management and administration of the charity.
Equipment is initially stated at cost. Depreciation is provided on equipment at 25% on a reducing balance basis, based on the estimated useful life.
Investment Property
Investment property is revalued periodically and is included at the latest valuation.
Leases
Where the Trust enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The leased asset is recognised within tangible fixed assets and the liability within creditors. Payments made under hire purchase agreements reduce the liability.
Unrestricted Funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Restricted Funds
Restricted funds are donations and other incoming resources which were received for a specific purpose and are not available as general funds.
Income
Investment Income
Income from quoted securities and bank deposits is accounted for in the period in which the Charity is entitled to receipt.
Donations and Grants
Grant income is recognised in the financial statements when the qualifying conditions for the grant have been satisfied and there is reasonable certainty that the funding will be received.
Income from donations is recognised on receipt.
Grants and donations received for specific purposes are identified as restricted fund income. Other grants and donations are identified as unrestricted funds.
Income from Property
Property income is accounted for on an accruals basis.
Other Income
Other income is accounted for when the Charity is entitled to the income, which by the nature of the items is when cash is received. Gardening work income is recognised when the work is completed.
10
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
2 Accounting Policies (continued)
Broomhill Cottage Tea Room and Gift Shop
Carew Pole Garden Trusts share of the joint venture loss is shown in note 13.
The joint venture ceased in 2020 year end accounts. Costs incurred after this date were fully funded by Carew Pole Garden Trust. From 1 July 2020 Broomhill Cottage commenced being let to a third party. Income from this is included within income from property.
Investments
Investments are carried at market value. Gains or losses on disposals and on annual revaluation of investments are credited or charged in the Statement of Financial Activities.
Financial Instruments
The Trust only has financial assets of a kind that qualify as basic financial instruments i.e. cash, investments, short-term debtors and creditors, which are initially recorded at transaction value. Investments are revalued at market value through the Statement of Financial Activities. Details of the financial instruments can be found in notes 5, 7, 8, 9, and 10.
Expenditure
Expenditure is included on an accruals basis and is recognised as soon as there is a legal or constructive obligation to pay the expenditure. Direct charitable expenditure includes all expenditure directly related to the objects of the Charity and represents the costs associated with the upkeep of the gardens. Property costs and investment management fees are directly related to those sources of income. Other costs are the costs of running the Charity itself as an organisation.
3 Heritage Assets
| Balance b/f - At valuation / cost, March 2016 Additions - set up costs at Broomhill, 2019 Balance c/f - 31 March 2022 |
Property Sculpture 2022 2021 Total Total £ £ £ £ 337,000 38,400 375,400 375,400 11,694 - 11,694 11,694 348,694 38,400 387,094 387,094 |
|---|---|
The various properties were settled on the Trust over many years since its inception and the historical cost records are no longer available.
The properties were professionally revalued by Savills, and are disclosed at valuation as at 31 March 2016 plus costs incurred subsequently. An employee of the Lynher Valley Partnership (related party to Carew Pole Garden Trust) is a qualified chartered surveyor and has confirmed that the value of the properties as at 31 March 2022 has not changed since 31 March 2016.
A notional sum of £1 has been included in the property additions to account for the 50% initial setup costs of Broomhill Cottage Tea Room and Gift Shop donated by Animari Partnership Ltd.
The charitable purpose of the sculptures is to provide enjoyment to the public. The carrying value represents the initial value of the assets when originally gifted to or purchased by the Trust. The trustees consider there has been no impairment of the assets.
The value of the heritage assets does not include the gifts made by Sir Richard and Lady Mary Carew Pole on 8 September 2005. They both gifted their half share in a sculpture known as the 'Wrapt'. Sir Richard also gifted three pieces of Delabole slate and Standing Stone all inscribed by Tom Perkins.
11
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
4 Investment Property
| Balance b/f - 1 April 2021 Balance c/f - 31 March 2022 |
2022 £ 910,000 910,000 |
2021 £ 910,000 |
|---|---|---|
| 910,000 |
The various properties were settled on the Trust over many years since its inception and the historical cost records are no longer available.
The properties were professionally revalued by Savills, and are disclosed at valuation as at 31 March 2016. An employee of the Lynher Valley Partnership (related party to Carew Pole Garden Trust) is a qualified chartered surveyor and has confirmed that the value of the properties as at 31 March 2022 has not changed since 31 March 2016.
5 Quoted Investments
| Market value at 1 April 2021 Additions Disposals Fair Value adjustment Market value at 31 March 2022 Historical cost at 31 March 2022 Investments held in the UK Investments held outside the UK |
2022 £ 551,299 210,760 (235,699) 22,384 548,744 494,377 433,022 115,722 548,744 |
2021 £ 467,972 125,106 (150,597) 108,818 |
|---|---|---|
| 551,299 | ||
| 456,512 | ||
| 445,216 106,083 |
||
| 551,299 |
The following securities are material individual holdings as they exceed 5% of the Charity's portfolio:
| Holding | Security | Value |
|---|---|---|
| £ | ||
| 629 | Ruffer SICAV Fixed Income Z GBP Dis | 85,338 |
| 12,159 | LF Ruffer Gold C Acc | 36,429 |
| 38,057 | Ruffer Multi Strategies Fund Limited | 35,830 |
| 8,724 | Ruffer Protection Strategies International Z GBP | 29,261 |
12
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
6 Tangible Fixed Assets
| Cost At 1 April 2021 Additions Disposals At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 1 April 2021 7 Debtors Trade debtors Prepayments Other debtors Lynher Valley Partnership Antony Pedigree Farms Antony Hospitality Holdings Ltd Antony 1978 Discretionary Trust Antony Estate General 8 Cash at Bank and In Hand Ruffer LLP Lloyds Bank plc Petty Cash |
Plant and equipment £ 29,494 18,522 (4,200) 43,816 13,849 7,491 21,340 22,476 15,645 |
Office equipment £ 3,980 - - 3,980 3,976 4 3,980 - 4 2022 £ 7,785 2,332 1,062 - 74 35 1 11,289 2022 £ 33,276 11,899 213 45,388 |
Total £ 33,474 18,522 (4,200) |
|---|---|---|---|
| 47,796 | |||
| 17,825 7,495 |
|||
| 25,320 | |||
| 22,476 | |||
| 15,649 | |||
| 2021 £ 2,000 387 198 160 74 35 - |
|||
| 2,854 | |||
| 2021 £ 28,150 8,617 72 |
|||
| 36,839 |
13
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
9 Creditors: Amounts falling due within one year
| Rents received in advance Trade creditors Accruals Hire purchase agreement Wages payable Credit card Other creditors Sir John Carew Pole Deceased Will Trust Loan Account Carew Pole Charitable Trust Creditor Tremayne Carew Pole Loan Account Antony Pedigree Farms Loan Account Sir Richard Carew Pole Estate Loan Account 10 Creditors: Amounts falling due after one year Hire purchase agreement |
2022 £ 28,536 19,731 6,942 3,696 1,035 487 5,000 3,405 1,394 388 81 70,695 2022 £ 4,221 |
2021 £ 28,537 9,132 7,294 3,514 1,125 - - 3,405 685 - 483 |
|---|---|---|
| 54,175 | ||
| 2021 £ 7,917 |
11 Funds
The unrestricted funds may be applied for such charitable purposes as the trustees consider appropriate.
The restricted fund comprises donations made to the charity by Sir Richard Carew Pole and Lady Mary Carew Pole specifically for the purchase of a water bowser and sculpture for the gardens.
| Fixed assets Other net (liabilities)/assets Net assets |
2022 Unrestricted Funds £ 1,838,698 (20,489) 1,818,209 |
2022 Restricted Funds £ 29,616 2,250 31,866 |
2022 2021 £ £ 1,868,314 1,864,042 (18,239) (22,399) 1,850,075 1,841,643 Total Funds Total Funds |
|---|---|---|---|
Last year, unrestricted funds comprised £1,834,221 of fixed assets and (£24,649) of other net liabilities. Restricted funds comprised £29,821 of fixed assets and £2,250 of other net assets.
14
Carew Pole Garden Trust
Statement of Financial Activities
Year ended 31 March 2022
12 Statement of Prior Year Financial Activity (for the year ended 31 March 2021)
| Income from: Investments Investment income Income from property Charitable activities Admission receipts Other trading activities Broomhill Cottage Tea Rooms & Gift Shop Garden work services Timber income Donations and legacies Donations Grant income Total income Expenditure on: Raising funds Investment management fees Property expenses Advertising and marketing Charitable activities Garden expenses Other Total expenditure Net expenditure before gains on investments Net gains on investments Realised gains on foreign currency holdings Net movement in funds Reconciliation of funds Total funds balance brought forward at Total funds balance carried forward at |
Unrestricted Funds £ 5,822 74,091 5,167 (1,224) 4,578 500 942 10,000 99,876 5,251 5,687 1,118 81,068 21,953 (115,077) (15,201) 108,818 1,753 95,370 1,714,202 1,809,572 |
Restricted Total Funds Funds £ £ - 5,822 - 74,091 - 5,167 - (1,224) - 4,578 - 500 - 942 - 10,000 - 99,876 - 5,251 - 5,687 - 1,118 274 81,342 - 21,953 (274) (115,351) (274) (15,475) - 108,818 - 1,753 (274) 95,096 32,345 1,746,547 32,071 1,841,643 |
|---|---|---|
15
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
13 Broomhill Cottage Tea Rooms & Gift Shop reconciliation
The below table provides a breakdown of income and costs connected to the set up and running of Broomhill Cottage Tea Room & Gift Shop. Amounts for 2021 relate to costs incurred after the joint venture with Animari Partnership ceased in March 2020. A commercial let of the property commenced from 1 July 2020, with the rental income recognised in income from property and rental costs recognised in property expenses.
| £ £ Income from Tea room & gift shop sales - Expenses used to calculate profit share Electricity - Heating Fuel and Oil - Telephone - Water - Shareable profit - Profit share paid to Animari Partnership Ltd - Attributable to Carew Pole Garden Trust - Costs incurred by Carew Pole Garden Trust Repairs and Maintenance - Council Tax - Sundry - Card Charges - Gardening Costs - - Deficit from trading - 14 Property Expenses Rent, rates, telephone, heat and light, and insurance Repairs 2022 |
£ £ - - - (690) (133) (823) - (823) 195 - 150 56 - (401) (1,224) 2022 2021 £ £ 2,779 1,467 9,560 4,220 12,339 5,687 2021 |
£ £ - - - (690) (133) (823) - (823) 195 - 150 56 - (401) (1,224) 2022 2021 £ £ 2,779 1,467 9,560 4,220 12,339 5,687 2021 |
|---|---|---|
| (823) - |
||
| (823) (401) |
||
| (1,224) | ||
| 2021 £ 1,467 4,220 |
||
| 5,687 |
16
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
15 Garden Expenses
| Labour (note 18) Garden upkeep, plants, etc General maintenance and repairs Woodland thinning and Tree Surgery Sundry expenses Depreciation - plant and equipment Loss on disposal of fixed assets Consultancy fees |
2022 2021 £ £ 54,759 59,374 4,238 2,103 5,583 5,361 8,274 5,373 1,581 1,999 7,491 5,215 1,200 - 735 1,917 83,861 81,342 |
|---|---|
The depreciation of plant and equipment for the year was £7,491 of which £7,286 was unrestricted (2021: £4,941) and £205 was restricted (2021: £274)
16 Other Costs
| Accountancy - Independent examination - Other services provided by independent examiner - Bookkeeping Estate overhead charges Depreciation - office equipment Subscriptions Bank charges and finance costs Legal fees |
2022 2021 £ £ 840 750 4,349 4,058 141 319 11,043 13,302 4 1 479 430 1,379 873 - 2,220 18,235 21,953 |
|---|---|
17 Support Costs
All support costs are incurred in managing the investments of the Charity or on maintaining the legal structure of the entity, as shown in notes 14 and 16 above.
17
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
18 Labour Costs
| Wages and salaries Social security costs Employer's contribution to defined contribution pension scheme Contractors Average number of employees: |
2022 £ 38,333 3,284 792 12,350 54,759 Number 2 |
2021 £ 37,363 3,204 708 18,099 |
|---|---|---|
| 59,374 | ||
| Number 2 |
No employee received remuneration of more than £60,000 in the year.
The Trustees consider that the Board of Trustees comprise the key management personnel.
19 Trustees' Remuneration
During the year no Trustee received any remuneration and there were no other reimbursements of expenses other than those mentioned in the note 20.
20 Related Party Transactions
Garden Work
During the year, income was received from the following related parties for gardening work undertaken by the charity:
| Tremayne Carew Pole, Trustee Lynher Valley Partnership Sir Richard Carew Pole Bt, OBE, Trustee Antony Pedigree Farms Erth Barton Farm Partnership |
2022 2021 £ £ 1,346 2,416 390 - 200 1,002 90 1,160 80 - 2,106 4,578 |
|---|---|
Tremayne Carew Pole also paid £709 of expenses on behalf of the Charity during the year. At the year end the amount due to him was £1,394 (2021: £685). No interest has been incurred on this creditor balance (2021: no interest).
The charity had no other transactions with Sir Richard Carew Pole Bt, OBE bar repayments (2021: charity incurred costs of £1 for rent, received £500 for plants purchased by the charity on behalf of the trustee, and received £482 in the form of loans). At the year end the amount due from Sir Richard Carew Pole Bt, OBE was £119 (2021: £483). No interest has been incurred on this debtor balance (2021: no interest).
18
Carew Pole Garden Trust
Notes to the Financial Statements (continued)
Year ended 31 March 2022
20 Related Party Transactions (continued)
Garden Work (continued)
Antony Pedigree Farms is a partnership in which Sir Richard Carew Pole Bt, OBE, a Trustee, has significant influence. During the year it paid £388 for expenses on behalf of the Charity (2021: nil). At the year end the amount due to the partnership was £388 (2021: £160 debtor). No interest has been incurred on this creditor balance (2021: no interest).
Erth Barton Farm Partnership is a partnership in which Sir Richard Carew Pole Bt, OBE and Lady Mary Carew Pole DCVO, Trustees, have a significant influence. There was no balance due from the partnership at the year end (2021: nil).
Lynher Valley Partnership
Lynher Valley Partnership is a partnership in which Tremayne Carew Pole, a Trustee, has a substantial interest. During the year it paid £15,448 of expenditure on behalf of the charity (2021: £14,534).
Other transactions with the partnership includes the £390 Garden Work, £55 expenses, and various repayments to the partnership. (2021: £959 expenditure paid by the charity on behalf of the partnership, a £7,000 loan receipt from the partnership, £55 expenses, and various repayments).
At the year end the amount due from Lynher Valley Partnership was £1,062 (2021: £198). No interest has been charged on this debtor balance (2021: no interest).
Donations
No donations for the year were received from Trustees (2021: £500).
Other related party transactions
The charity received a loan for £5,000 from Sir John Carew Pole Discretionary Will Trust, a trust in which Sir Richard Carew Pole Bt, OBE, a Trustee, has significant influence. No interest was charged on this loan. At the year end the amount due to Sir John Carew Pole Discretionary Will Trust was £5,000 (2021: nil).
Antony Hospitality Holdings Ltd is a company under the control of Tremayne Carew Pole, a Trustee. The charity had no transactions with the company during the year (2021: The charity received a loan of £2,700 from the company, which was repaid). At the year end the amount due from Antony Hospitality Holdings Ltd was £74 (2021: £74). No interest has been charged on this debtor balance (2021: no interest).
21 Volunteers
During the year two general volunteers gave 230 hours (2021: 444 hours) of their time to assist with garden work.