# **Report of the Trustees and Audited Financial Statements for the Year Ended 31 March 2024**
Chippenham Borough Lands Charity | Number: 270062
## **Contents of the Financial Statements for the Year Ended 31 March 2024**
||Page|
|---|---|
|Report of the Trustees|2 to 22|
|Report of the Independent Auditors|23 to 25|
|Statement of Financial Activities|26|
|Balance Sheet|27|
|Cash Flow Statement|28|
|Notes to the Cash Flow Statement|29|
|Notes to the Financial Statements|30 to 47|
|Detailed Statement of Financial Activities|48 - 49|
Chippenham Borough Lands Charity | Number: 270062 Page 1
**Report of the Trustees for the Year Ended 31 March 2024**
The Trustees of Chippenham Borough Lands Charity (‘the charity’) are pleased to present their annual report – which provides a summary of performance and achievements - and the audited financial statements for the year ended 31st March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2011 and 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 published on 16 July 2014.
## **About Chippenham Borough Lands Charity**
Chippenham Borough Lands Charity (CBLC) is a place-based, grant-making charity enhancing the wellbeing of the people of Chippenham. We support local people and organisations through funding, encouragement, and guidance, CBLC ensures that all generations can grow and succeed.
Our substantial endowment generates an annual income dedicated to enriching lives. A sizeable portion, funds grants and financial assistance helping Chippenham residents. By benefitting the people of Chippenham, the Charity maintains high levels of support that aids diverse groups in the town community.
Chippenham Borough Lands Charity stewards over 70 acres of community green space. Originally bestowed to Chippenham by way of a 1554 Royal Charter from Queen Mary I, the charity has safeguarded these historic "Borough Lands" through changing times. Notable among our assets are two Grade II listed buildings, with The Bank House serving as our primary office. Our extensive portfolio includes two community centres and two car parks. Baydons Meadow, a wildflower meadow, and Mortimores Wood, an ancient woodland, offer open community access and enjoyment of these natural green spaces.
Recent environmental and recreational developments include extensive tree plantings, a sculpture trail, and walking paths across Westmead Open Space. Westmead Playing Field is home to the charity's state-of-theart climbing centre The Arc, with a complementary skatepark and play area.
CBLC’s origins date back to a period when Chippenham was governed by a Bailiff and twelve Burgesses. Established by Queen Mary’s charter in 1554, these Burgesses were responsible for managing the town’s lands and resources, ensuring the proceeds supported public infrastructure and local governance.
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## **Report of the Trustees for the Year Ended 31 March 2024**
The lands, originally part of Lord Hungerford's estates, were granted to alleviate financial burdens and support public services. The Burgesses were responsible for managing these lands and ensuring their proceeds were used for the community’s benefit.
CBLC was established to manage these historical lands, ensuring they continued to serve the community as originally intended by the charters. The charity oversees the assets, invests the proceeds, and uses the income to support local projects, infrastructure, and community welfare, maintaining the public benefit envisioned by the original land grants.
Chippenham Borough Lands Charity is a modern continuation of the Burgesses' historical role in managing the town's lands and resources. These lands, managed by the Burgesses, were intended to support the community and maintain infrastructure—a mission that the CBLC upholds today.
From Tudor-era origins to modern advancements benefitting residents today, CBLC serves as vigilant custodian of these treasured communal green spaces for both current and future generations. Our Trustees are custodians of our endowment funds and land for the benefit of our community, using these transparently, efficiently, effectively and in response to the needs of Chippenham residents.
## **Our Objectives**
The objects of the Charity are set out below and are achieved through our assets and making grants to appropriate individuals and organisations. In encouraging applications from the local community, the Trustees confirm they comply with the duty to have due regard to the Charity Commission's general guidance on public benefit.
a) The relief of the aged, sick, disabled, or poor inhabitants of the Parish of Chippenham.
b) The provision or assistance in provision, for the benefit of the inhabitants of the Parish of Chippenham and its neighbourhood or any section of those inhabitants, of facilities for recreation or other leisure-time occupation where that provision is charitable by virtue of the Charities Act 2011.
c) The advancement of education for the benefit of the inhabitants of the Parish of Chippenham.
d) The promotion of any other charitable purpose (whether or not of a nature similar to any purpose specified in paragraphs a, b, and c above) for the benefit of the inhabitants of the Parish of Chippenham.
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**Report of the Trustees for the Year Ended 31 March 2024**
## **Our Grant making and activities**
Chippenham Borough Lands Charity invites grant applications from eligible individuals and organisations. Our Grants to Individuals assist individuals in various forms, including mobility aids, white goods, childcare costs, training courses, travel passes, transportation expenses, furniture, and food vouchers. We also support numerous charities, non-profit organisations, education bodies and community groups dedicated to serving Chippenham.
CBLC maintains strong referral relationships with community partners like councils, schools, charities, and advocacy non-profits. Referrals often emanate from these entities, and we refrain from duplicating support available through statutory provisions or other agencies. Applicants also learn about opportunities through outreach events, the CBLC website, and social media. Grant Managers are often able to assist applicants by signposting to other sources of help which might be available and appropriate to them, either in addition to any help which the Charity can give or as an alternative. This "signposting" works both ways, with these sources also referring applicants to the Charity who might not otherwise have done so.
Our application process, guided by means-testing and established policies, prioritises impactful assistance. Grant paperwork support is available, with Grants Managers offering personalised consultations. Eligibility and award decisions are made based on policies set forth by the Board of Trustees who provide oversight of the Charity's investments, assets, programmes, and grant making. The Trustees exercise discretion to adjust policies, ensuring responsiveness to evolving needs.
Progress reports and evaluations are sought for our awards to organisations, reinforcing our dedication to transparency and impactful philanthropy.
In addition to our grant-making activities, we actively support diverse community projects, including the operation of a community website called One Chippenham (onechippenham.org.uk), where we disseminate local information, news, and event updates. We also attend and organise networking opportunities within the health, wellbeing, arts, and culture sector, facilitating collaboration among groups, organisations, and individuals.
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## **Report of the Trustees for the Year Ended 31 March 2024**
## **Perspective from the Chair**
As the new Chair of Trustees for Chippenham Borough Lands Charity (CBLC), I am pleased to present our key achievements and developments for the 2023-2024 financial year. This period has been transformative, marked by significant leadership changes and a renewed strategic focus.
## Leadership Transition and Strategic Renewal
The past year has seen important changes in our leadership. Our long-serving CEO Phil Tansley departed after 9 years. Lee Mason stepped in as Interim CEO, spearheading an impact review that laid the groundwork for our future direction. We then welcomed Beth Gardner as our new permanent CEO. Beth has quickly made her mark bringing fresh energy and already made substantial contributions to our organisation. At the board level, Don Steele completed his term as Chair of Trustees in June 2023, with Vice Chair Phil Wren serving for a year to ensure continuity before my appointment.
Under Beth's leadership, we've developed a comprehensive three-year strategy that marks a pivotal shift in our approach. We aim to transition from being primarily a grant provider to taking on a more influential role as a community enabler. This strategy emphasises measurable social impact, fosters collaboration with local partners, and adopts a needs-based approach aligned with Chippenham's evolving demographics.
Our new strategic focus targets key outcomes including increased community participation and cohesion, improved education support and employment security, better mental and physical health, more people with safe and suitable homes, and increased participation in sports, arts, culture, and outdoor activities.
## - Impactful Grant Making
In 2023-2024, CBLC made a significant impact on our community, disbursing over £215,000 in grants across a diverse range of initiatives. Responding to the cost-of-living crisis, we expanded our Christmas Voucher Scheme by 14%, providing vital support to 345 households during the festive season. We funded critical mental health services, placing counsellors in local schools to support youth wellbeing. We proudly supported both Chippenham's inaugural Pride festival and its successful follow-up within the same financial year, contributing to a more diverse and welcoming community. These varied initiatives reflect our commitment to addressing both immediate needs and long-term community development, while also supporting emerging cultural events that enrich our town's social fabric.
## Community Engagement and Partnerships
This past year, we've significantly strengthened our community partnerships. A key initiative was collaborating with Wiltshire and Swindon Sport Partnership (WASP) to develop the Chippenham Activity Finder. This digital tool, integrated into our One Chippenham website, will connect residents with local physical and social activities, supporting social prescribing initiatives and activity providers.
We also commissioned Melt Productions to run the successful Chippenham Fringe February Festival 2024. This vibrant event featured over 30 performances, engaged more than 15 local groups. It transformed underutilised spaces into vibrant venues, offering a mix of free and affordable events that improved arts access for underserved communities. The festival not only entertained but also highlighted Chippenham's cultural assets and talent, demonstrating our commitment to enriching community life.
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## **Report of the Trustees for the Year Ended 31 March 2024**
To enhance our efficiency, we've developed a new online grant application process with automated functionalities, set to launch in the upcoming financial year. We've also improved our ability to measure and demonstrate social impact, aligning with our new strategic direction.
Looking ahead, CBLC is committed to implementing our new three-year strategy, expanding our role as a community enabler and trusted partner, increasing our visible impact on Chippenham residents' lives, and strengthening collaborations with local organisations and authorities. We aim to raise our profile as a proactive custodian of green spaces and community assets while adapting to our community's changing needs.
## Community involvement and appreciation
We invite Chippenham residents to engage with us by exploring grant opportunities on our website, volunteering for our community initiatives, and sharing ideas for improving Chippenham. Our achievements wouldn't be possible without the dedication of our staff, volunteers, and partners, and we extend our thanks to everyone who has contributed to our mission.
As we reflect on this transformative year, we're inspired by the positive changes we've facilitated. These investments have not only addressed immediate needs but have also laid strong foundations for Chippenham's future growth and wellbeing. We look forward to continuing our work, adapting to our community's changing needs, and fostering initiatives that will shape a brighter future for all Chippenham residents.
Jenny Budgell
Chair of Trustees (17th June 2024 onwards)
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**Report of the Trustees for the Year Ended 31 March 2024**
## **ACHIEVEMENT AND PERFORMANCE**
Charitable grants of £217,388 were awarded during 2022/23. These figures do not take account of any amounts subsequently written off which are reflected in the financial statements later in this document.
## **Grants to Organisations**
During the 2023-2024 financial year, we supported local initiatives and organisations that enhance the quality of life for Chippenham residents through a diverse range of grants. These investments, totalling over £154,000, addressed key areas of community need including education, mental health, arts and culture, social inclusion, and initiatives to enhance community resilience and inclusivity.
The grants awarded made significant impacts across Chippenham. From funding mental health counsellors in schools to supporting innovative community projects like the Men's Shed, our grants have touched the lives of residents of all ages and backgrounds. Key highlights included:
- Substantial support for youth development programmes
- Investments in educational resources for local schools
- Funding for vital health and social care services
- Contributions to cultural events that bring the community together
- Crucial assistance to organisations addressing food insecurity and homelessness
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## **Report of the Trustees for the Year Ended 31 March 2024**
Each grant represents our dedication to fostering a thriving, inclusive community in Chippenham. As we review the outcomes of these investments, we're proud to see the positive changes they've brought about and the foundations they've laid for future growth and wellbeing in Chippenham.
The information contains a breakdown of each grant, its purpose, and expected impact, allowing for transparency and celebration. This approach also enables continuous refinement of our grant-making process to best serve Chippenham's evolving needs: -
## **£9,600 to The RISE Trust's Mentor Me Service, funding their volunteer coordinator for April 20242025.**
This programme provides free, one-on-one mentoring to primary school children in Chippenham, boosting self-esteem and offering vital support. The service will benefit not just individual children, but also schools, families, and the wider community. We are proud to support this impactful initiative that fosters resilience and wellbeing in our young people while also benefiting local volunteers.
## **£500 grant to Pewsham Stay and Play.**
This funding helped to launch an affordable, twice-monthly playgroup for children aged 0-4 in Pewsham. The grant provided essential play equipment, sensory toys, and support hall hire costs. This initiative fills a crucial gap in local services, offering a flexible, budget-friendly option for families. We're excited to have supported this grassroots group that fosters early childhood development and community connections.
## **£500 to Chippenham Pride towards the first Chippenham Pride Festival.**
This funding covered the cost of a small stage in Island Park for the inaugural Chippenham Pride Festival. The festival, held in June 2023, brought nearly 4,000 people together for a vibrant and family-friendly celebration of the LGBTQIA+ community. The event featured a variety of performances, speakers, and activities, creating an inclusive space that celebrated, supported, and educated the community. We're proud to have supported Chippenham's first Pride event, which aimed to inspire and celebrate diversity in the town and surrounding areas.
## **£1,785 grant to Inclusive Intergenerational Dance (iID) for their Dance for Parkinson's programme.**
This funding will support weekly dance sessions at Pewsham Community Centre, aiming to improve the physical and mental health of people with Parkinson's Disease and their carers. The programme promotes physical balance, mental cognition, emotional wellbeing, and social connections, fostering a supportive community.
## **£1,500 grant to Chippenham Rugby Football Club for setting up a Mixed Ability Rugby Team.**
This funding enabled the creation of the Chippenham Cavaliers, a new mixed ability rugby team that embodies inclusivity in sport. The project exceeded expectations, attracting 51 participants including 12 disabled players and 8 female players. Weekly training sessions began in January 2024, with the team's first competitive match in February. The Cavaliers have already played 5 matches, including one at Bath Recreation Ground, and are set to play at Twickenham during a Premiership final half-time. This initiative demonstrates how targeted funding can foster community integration and personal growth through sport. We're proud to support CRFC's commitment to breaking down barriers and creating opportunities for all abilities in rugby.
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## **Report of the Trustees for the Year Ended 31 March 2024**
## **£5,000 grant to Friends of St Peter’s School (FOSP) for an Outdoor Classroom.**
This grant supported the development of a new outdoor classroom near woodland at St Peter’s Academy. There were limited opportunities at the school for the children to be able to play and learn outside in all weather conditions and this new covered space for outdoor play and learning will positively impact the mental health and wellbeing of the children. We were excited to support this grant, which will serve not only the school but also the wider community, through pan-generation learning with the Allotment Association and sharing the space with Lordsmead Pre-School as part of the children’s primary transition.
## **£1,500 grant towards the Stay Safe Initiative secondary schools - Digital Empowerment Programme.**
This grant supported the delivery of Stay Safe Initiative's Digital Empowerment Programme in the three Chippenham secondary schools. The programme helps to address the growing issue of online harm and abuse, as well as the impact of social media on young people, enhancing online safety and promoting a positive digital future. We're proud to support this vital initiative, which empowers the next generation to navigate the digital world safely and confidently.
## **£1,237 grant to HEALS of Malmesbury for Noah's Ark Zoo Farm visit.**
This funding supported a day trip for 49 vulnerable and/or economically disadvantaged young people from Chippenham to Noah's Ark Zoo Farm near Bristol. The visit, part of HEALS Summer Activity Programme, offered a fun and educational experience to children who might not otherwise have such opportunities. This initiative fostered friendships among participants, provided respite for parents and carers, and included volunteer supervision. By collaborating with local organisations like the RISE Trust and school welfare officers, HEALS ensured the trip reached those most in need, promoting inclusivity and enrichment for young people from Chippenham.
## **£1,500 to Chippenham Uniform Exchange for set-up and rental costs of new premises.**
Chippenham Uniform Exchange provide free or low-cost pre-loved school uniforms to families in Chippenham, alleviating poverty and promoting sustainability. The service offers an eco-friendly alternative to buying new uniforms, reduces financial strain on families, and helps children fit in at school. By supporting this project, we’ve enabled better access to essential school items, improving children's wellbeing, and providing a valuable resource for local support agencies assisting vulnerable families.
## **£1,500 to Chippenham Sports Club towards pathway lighting and heating project costs.**
This grant will help enable the club to enhance safety on the poorly lit access road, which is heavily used by the community, including students from Sheldon School. The improved lighting will reduce risks for walkers, cyclists, and others, particularly during the winter months. Additionally, the heating upgrades will ensure that the club's facilities remain comfortable for members and visitors.
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## **Report of the Trustees for the Year Ended 31 March 2024**
## **£5,000 to SPLASH Wiltshire for positive youth activities for a group of Chippenham young people.**
Splash supports young people facing challenges, many of whom are vulnerable or disadvantaged, by providing youth worker support, small group activities, and access to counselling when needed. This grant provided funding for 57 places for young people from Chippenham to participate in positive activities. The activities are designed to boost confidence, self-esteem, and mental health, helping young people recognise their worth and capabilities. The grant enabled these young people to engage in meaningful activities during evenings, weekends, and school holidays, fostering a safe and supportive environment where they can develop resilience and aspire to brighter futures.
## **£1,500 to Youth Adventure Trust to support their Resilience Programme.**
We awarded a grant to Youth Adventure Trust to support their Resilience Programme, enabling more young people from Chippenham to participate. The Youth Adventure Trust uses outdoor adventure to empower vulnerable young people aged 11-16, helping them build resilience, develop confidence, and acquire lifelong skills. The year-long Resilience Programme, includes monthly activity days, supplementary take-home activities, and an overnight experience, all designed to provide a meaningful and progressive experience. With the dedicated support of an experienced Youth Support Worker, participants work on key aspects of resilience—confidence, commitment, control, and challenge—leading to measurable, life-changing impacts. We're committed to support a programme that helps vulnerable young people from Chippenham to face challenges and fulfil their potential.
## **£4,900 to Abbeyfield School to be able to employ a school counsellor for 4 hrs per week over a 35week period.**
This funding provided one-to-one counselling services for pupils at Abbeyfield School, addressing the ongoing mental health challenges that had been exacerbated by the impact of COVID-19 and lockdowns. The counsellor worked closely with the school pastoral team to ensure that students received the appropriate support and also helped connect them and their parents with additional resources in the community. We were proud to support this initiative, which offered vital professional counselling services to young people in need.
## **£5,000 to Charter Primary School for library redevelopment.**
This funding went towards a project aiming to cultivate a love of reading at Charter Primary School by creating an inviting and purposeful library space. The funds will support the installation of a bespoke wall art display to stimulate imagination, and the purchase of the top 100 children's books. This initiative not only enhances the school's curriculum but also encourages reading for pleasure, both at school and at home. By supporting this project, we're supporting the school to create an environment that fosters language development, reading comprehension, and hopefully a lifelong passion for literature.
## **£1,500 to Charter Rose Resource Base for a Communication support system and Occupational Therapy resources.**
This funding supports the resourced base provision for pupils with social, communication, and interaction difficulties. The grant will help acquire an AAC communication device and occupational therapy resources, enabling non-verbal children to express their needs and desires effectively. This initiative aims to enhance communication skills, promote self-regulation, and foster independence among students with autism. By supporting this project, we're helping to create a more inclusive learning environment that addresses diverse sensory needs and improves overall wellbeing for these children.
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## **Report of the Trustees for the Year Ended 31 March 2024**
## **£7,755 to Hardenhuish School for Mental Health and Wellbeing Support.**
This funding enables Hardenhuish School to continue providing crucial mental health services to its students. The grant will support the employment of a school counsellor for two days per week and maintain the ELSA emotional literacy support programme. These services offer specialist counselling, daily 'drop-in' sessions, emotional wellbeing education, and transition support for new secondary school students. By supporting this initiative, our funding is helping to address the high demand for mental health services, reduce waiting times, and provide immediate support to approximately 140-160 pupils throughout the year, contributing to their overall wellbeing and academic success.
## **£417 to Ivy Lane Primary School for Year 5 Art Bytes Competition Project.**
This funding supported Ivy Lane Primary School's participation in the Art Bytes competition, providing Year 5 students with a unique artistic opportunity. The grant covered the competition registration fee, a workshop led by a local artist, and necessary art supplies. This initiative aims to enhance the school's art curriculum by allowing students to create their own artwork, potentially have it displayed in a virtual gallery, and attend a presentation at The Neeld Arts & Community Centre. By supporting this project, we've helped to foster creativity, boost self-confidence, and provide valuable artistic experiences for these young pupils.
## **£1,035 to Kings Lodge Primary School for visiting sculptor project.**
This funding allowed for a professional sculptor to work with Year 5 and 6 pupils at Kings Lodge Primary School, enhancing the Art and DT curriculum. The project aimed to provide expert guidance in creating Greekthemed sculptures, teaching specialised skills like carving, shaping, and developing supportive frameworks. By supporting this initiative, we're helping to elevate the arts within the school curriculum, offering students the opportunity to realise their artistic visions to a high standard, and exposing them to professional artistic careers. The resulting artwork has been displayed for parents, showcasing the students' achievements and the importance of arts education.
## **£950 to Monkton Park Primary for Science Week project.**
This initiative aimed to inspire and engage students across the school through a dedicated Science Week, with a focus on STEM subjects. The project addressed the growing need to spark early interest in STEM, bridging the gap between the number of STEM-related jobs and students pursuing these fields at higher levels. The Science Week featured a variety of activities, including a highlight event with a planetarium visit, offering age-appropriate shows that ignite curiosity and enthusiasm for science. By supporting this project, we’ve helped to enhance the existing science curriculum, providing real-life, exciting STEM experiences.
## **£500 to Monkton Park Primary for online safety training from the Stay Safe Initiative.**
Monkton Park Primary School aimed to enhance the online safety awareness of its entire school community. With children increasingly accessing technology at home, there had been a rise in online safety incidents reported to the school. This initiative involved a specialist delivering targeted workshops, tailored to both parents and students, over a half-day session. By supporting this project, we are empowering students with the knowledge to navigate the online world safely and equipping parents with the tools to effectively guide their children in using technology.
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**Report of the Trustees for the Year Ended 31 March 2024**
## **£5,000 to Redlands Primary School towards their OPAL Primary Programme.**
Redlands Primary School is committed to enhancing the quality of play during break and lunchtimes by adopting the OPAL (Outdoor Play and Learning) Programme. This funding will go towards play resources, equipment storage, and comprehensive training for both children and staff. By supporting this initiative, we are enabling happier, more active, and fulfilling playtimes, which in turn promote better classroom behaviour, creative engagement, and overall wellbeing. The OPAL approach also introduces 'risky play' in a safe environment, allowing children to develop their own understanding of boundaries and risk management.
## **£8,000 to Sheldon School towards a mental health counsellor.**
This funding will help enable Sheldon School to address the growing number of referrals of pupils in need of additional mental health support. We understand the importance of providing students with the necessary resources to work through trauma, manage mental health issues, and develop vital coping strategies. Our funding will help pupils to receive timely and effective wellbeing support.
## **£3,000 to Springboard Chippenham for Rabbits group costs from April 2024-25.**
This funding supports Springboard Chippenham's Rabbits group, a specialised stay-and-play session for children under 2 with additional needs. As the only facility of its kind in North Wiltshire, it provides crucial support for up to 8 local families at a time. The project offers expert care, tailored learning environments, and specialised support for children with speech, language, or communication difficulties, as well as those with complex health needs. By supporting this initiative, we're helping to improve developmental outcomes, enhance communication skills, and provide a vital support network for families in Chippenham dealing with challenging circumstances.
## **£500 to St Peter’s Academy Primary School for music resources.**
This funding supported the purchase of a class set of glockenspiels to enhance whole-class music education at St Peter's Academy. The initiative aims to develop the school's music provision, allowing all students, including those with additional needs and more advanced abilities, to participate fully in classroom music sessions. By supporting this project, we're helping to expand musical opportunities for students, foster group playing skills, and potentially uncover hidden talents. This investment in musical education will enrich the school's curriculum and provide students with valuable creative experiences.
## **£1,500 to St Peter’s Academy Primary School for an art project to celebrate 50-year anniversary.**
We were delighted to approve £1,500 to St Peter’s CoE Academy for an art project to celebrate their 50th anniversary. To mark this significant milestone, St Peter’s Academy collaborated with a professional art team to create a vibrant and meaningful art installation. Each child and staff member contributed by decorating a unique fish, symbolising their place in the school community. The final piece, a cohesive 'school of fish,' is now displayed in the central Media Suite, representing the unity and spirit of St Peter’s. This project not only celebrates the school’s rich history but also fosters a strong sense of belonging and pride among all participants. We are proud to support this initiative, which will leave a lasting legacy for the school’s Golden Jubilee.
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## **£1,285 to Wiltshire College & University Centre for petrol-driven cut-off saw training for apprentices on the Bricklaying course.**
This funding provided essential training and equipment to ensure apprentices can safely and confidently use petrol-driven cutters. The training aligns with NOCN guidelines and health and safety recommendations, equipping students with the skills to handle masonry saws correctly, select appropriate blades, and adhere to safety protocols. This project will benefit all current and future bricklaying apprentices, enhancing their practical experience and preparing them for safe tool use in their professional careers.
## **£1,428 to Wiltshire College & University Centre for Cabin Crew Training Resources for students on the Travel and Tourism course.**
This funding provided essential physical equipment, including a mock airline seat, cabin crew trolley, safety demonstration tools, and first aid kits, enabling students to practice vital Cabin Crew duties. These resources will enhance the Level 3 Travel and Tourism course by allowing students to develop practical skills in safety drills, customer service, and teamwork—preparing them for careers in the airline industry. With over 60 students enrolled annually, these tools will provide invaluable hands-on experience, building their confidence and competence for future job opportunities in aviation. This grant not only enhances the learning experience but also supports students who may not have the means to access external training, ensuring equal opportunities for all.
## **£500 to Wiltshire College & University Centre for specialist practitioners to enhance the Level 3 Creative Practice programme.**
This funding will brought in a professional graphic designer and a professional illustrator for a series of workshops, talks, and live project briefs. The specialists shared their industry insights, helping students to elevate their technical and creative skills to a professional standard. The workshops focused on idea generation, digital techniques, and providing valuable feedback throughout their final projects. By interacting with these young professionals, students gained practical knowledge, improved their portfolios, and felt inspired to pursue ambitious careers in the Creative Industries.
## **£2,348 to Wiltshire College & University Centre for the Beamsley Project residential trip.**
This funding supported a residential trip for students with special educational needs at Wiltshire College & University Centre. The project aimed to help vulnerable young people with Education, Health and Care Plans apply their independent living skills in a real-world setting - allowing participants to practice budgeting, planning, and social interaction skills, furthering their progress towards successful transitions into future education or employment.
## **£20,000 to Dorothy House for nursing costs in Hospice @ Home and community palliative care teams in Chippenham.**
This grant supports Dorothy House's vital end-of-life care services in Chippenham. The funding will be split equally between the Hospice @ Home service and the Community Palliative Care Team, enhancing community-based care for approximately 260 local patients annually. By supporting this project, we're helping to provide specialist nursing support, symptom control, and emotional support for patients with life-limiting illnesses and their families. This initiative aims to improve quality of life, reduce strain on local healthcare services, and ensure that Chippenham residents have access to outstanding end-of-life care in their homes.
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## **Report of the Trustees for the Year Ended 31 March 2024**
## **£5,000 over three years to Back On Track for their Stroke Rehab Service.**
This three-year grant supports Back On Track's Stroke Rehab Service, providing long-term rehabilitation and support to young stroke survivors and their families in Chippenham. The funding will enable a range of services including occupational therapy, psychotherapy, art therapy, and group activities. By supporting this project, we're helping stroke survivors overcome physical, psychological, and emotional limitations, working towards independence and potential re-employment. This comprehensive approach aims to improve the overall wellbeing of stroke survivors and their families, offering crucial support during their recovery journey.
## **£5,000 in funding to Waste Not Want Not (WNWN) for their Fresh Start Scheme to support clients in crisis in Chippenham.**
This funding will provide essential furniture and household items to individuals and families moving into empty properties after experiencing homelessness, domestic abuse, or displacement. By helping furnish their homes, WNWN aim to offer these residents stability and comfort as they rebuild their lives. We are proud to support WNWN’s vital work in the community through this grant.
## **£1,500 to Wiltshire Citizens Advice for heating and utilities costs.**
This funding supported Wiltshire Citizens Advice's operating costs in Chippenham until the end of their tenancy in March 2024. The grant covered heating and utilities bills, enabling the organisation to continue providing vital services to local residents. By supporting this initiative and providing the charity with an alternative office space for the future we've helped to ensure that Wiltshire Citizens Advice can maintain its presence in Chippenham and continue to assist nearly 15,000 people annually.
## **£4,500 to Doorway Wiltshire for rough sleeper packs and staff training.**
This grant supported Doorway Wiltshire's efforts to assist homeless individuals in Chippenham. The funding provided 40 rough sleeper packs containing essential items like sleeping bags, tents, and hygiene kits, as well as contribute £1,800 towards staff training. By supporting this project, we've helped Doorway Wiltshire continue its crucial drop-in services, which assist approximately 320 individuals annually. This initiative aimed to provide immediate practical support to those experiencing or at risk of homelessness, offering not only essential items but also access to various support services and referrals.
## **£2,337 awarded to Alzheimer’s Support for “Movement for the Mind” sessions.**
This grant will help fund the popular "Movement for the Mind" sessions held fortnightly at King Alfred's Hall, where people living with dementia and their carers benefit from gentle, inclusive exercise guided by specialists trained in dementia awareness. These sessions offer not only physical activity but also vital social interaction, providing a supportive environment for those affected by dementia. We are proud to contribute to Alzheimer’s Support’s valuable community services that enhance quality of life for Chippenham residents.
## **£895 to Chippenham Men's Shed for workshop tools.**
This funding supported the purchase of tools, specifically a planer/thicknesser, for Chippenham Men's Shed's new workshop. The grant helped equip their recently acquired premises, enabling them to undertake various community projects. By supporting this initiative, we've helped to create a space for individuals, primarily men, to socialise, share experiences, and engage in creative activities. This project aims to combat isolation, promote mental wellbeing, and provide opportunities for community service through the creation of items like raised beds, planters, and benches for local charity and not-for-profit organisations and schools.
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## **Report of the Trustees for the Year Ended 31 March 2024**
## **£1,500 to Sheldon Road Methodist Church Beacon Centre for the Community Meals scheme.**
This initiative provided weekly hot meals in a warm, friendly environment for those experiencing loneliness or financial hardship in Chippenham. The project ran through autumn and winter, offering 60 free meals per week for 27 weeks. By supporting this scheme, we've helped to address food insecurity, reduce social isolation, and create a space for community support during challenging times. The project also aimed to connect attendees with additional resources and agencies as needed.
## **£1,500 grant to Chippenham Pride towards the Education Stage at the Chippenham Pride Festival 2024.**
This funding supported an education stage at Chippenham Pride Festival 2024, providing a platform for local and national charities to share their work. The stage hosted diverse speakers, including NSPCC, Connect, Olive Branch Counselling, and representatives from LGBTQIA+ and youth support organisations. This initiative promoted awareness, education, and community engagement on important social issues, benefiting attendees and the wider Chippenham community.
## **£887 to the Wiltshire Bobby Van Trust for an iPad for the Stay Safe Online scheme.**
This innovative programme aimed to protect older and vulnerable residents in Chippenham from cybercrime. The funded iPad will enable volunteers to conduct home visits, providing tutorials on recognising and avoiding online fraud. By supporting this project, we're helping to equip our community's most at-risk members with essential digital safety skills, reducing stress and potential financial harm. The scheme, which has already assisted 340 homes, offers a vital service in an era of increasing cybercrime.
## **£3,000 to St Peters Church Foodbox towards essential fresh items for food parcels.**
This project provided essential food support to 102 households within Chippenham, delivering weekly food parcels to those in need. The funding helped bridge a crucial gap in their operations, ensuring continuity of service for residents who had exhausted other support options. By supporting initiative like this we're helping to address food insecurity in our community, providing a lifeline to those who might otherwise fall through the cracks of existing support systems. We also provided a £500 uplift at Christmas for essential services.
## **£21,907 total funding shared between Chippenham Primary and Secondary Schools by way of a "Social Fund” payment to the school at the start of the academic year.**
This significant funding initiative provides crucial support to schools across Chippenham, allocated based on the number of pupils receiving free school meals. The flexible "Social Fund" allows schools to address various needs of low-income families and those struggling with the cost of living. It can be used for essential expenses such as uniforms, school trip subsidies, and breakfast or after-school clubs.
By providing this discretionary fund, we're enabling schools to offer targeted support where it's most needed, helping to enable equal access to educational opportunities and reducing financial burdens on families. This initiative not only supports pupils' immediate needs but also contributes to their overall wellbeing and ability to fully participate in school life.
Page 15
## **Report of the Trustees for the Year Ended 31 March 2024**
## **ACHIEVEMENT AND PERFORMANCE Grants to Individuals**
We provided £63,388 in funding to individuals and families living in Chippenham between 1st April 2023 to 31st March 2024.
We gave out £28,318 in individual grants to support low-income residents providing targeted financial assistance to 53 individuals and families in Chippenham facing economic hardship. By offering these personalised grants, we're addressing specific needs within our community, helping to alleviate financial stress and improve quality of life for our most vulnerable residents. This direct support allows recipients to meet essential needs, bridging gaps that other forms of assistance may not cover.
Our funding included grants for the provision of furniture, white goods (washing machine, cooker, fridge/freezer), living costs, hospital travel costs, counselling, funeral costs, energy costs, food vouchers, emergency debt support, an educational trip for a young carer and mobility scooters (including assessment/servicing/batteries).
We also awarded additional multiple household grants via our Christmas Voucher Scheme working with a variety of local partner organisations to give out Tesco vouchers ranging from £50 to £165. This scheme provides supermarket vouchers help alleviate costs for Chippenham residents who may be struggling at this time of year. We recognised the increasing economic challenges facing families and our Christmas 2023 Voucher Scheme spend increased by 14% to help accommodate rising costs.
Page 16
**Report of the Trustees for the Year Ended 31 March 2024**
The success of this initiative hinges on the collaboration with local agencies and community organisations. They play a vital role in identifying individuals and families in Chippenham who may need a boost, extending our reach outside of the people that contact us directly for grant support. This year we distributed vouchers to
345 different households in Chippenham, spending a total amount of £35,070. This is the largest amount since we started the Christmas voucher scheme.
## **Financial Position**
In the year to 31 March 2024 the net deficit before gains and losses on investments for the year was £141,565 (2023: £180,005 deficit). There was a deficit on unrestricted funds of £657,872 (2023: £623,828) and a surplus on endowment funds of £403,826 (2023: £396,942). After taking investment gains into account the Endowment Funds had a surplus of £1,419,061 (2023: £414,757 deficit). £43161 was received as a restricted fund from Lackham College. Net movement in the funds in the year was a surplus of £804,347 (2023: £1,038,595 deficit). No transfers were made between endowment and unrestricted funds .
At the end of the year CBLC Trading Limited owed the charity £85,128 (2023: £87,765) and The Arc is represented as the investment property in the charity balance sheet at a value of £1,600,000.
## **Land & Buildings**
The Charity owns land around Chippenham which has been maintained by our tenants and by volunteers such as the Mortimores Wood Volunteers and the Baydons Meadow Wildlife Group. This financial year Charlton Abbotts Forestry continued to assist with the maintenance of the charity’s land.
Chippenham Town Council continues to lease and maintain the old sports playing fields, pavilion, and part of the car park at Westmead.
The Bank House is home to the Charity's main office. The Charity also owns the Jubilee Building and two community centres – Kingsley Road Community Hall and Pewsham Community Centre. Kingsley Road Community Hall Association continues to operate the halls for the benefit of residents. Pewsham Community Centre Association ran Pewsham Community Centre until it ceased operation at the end of February 2024. Chippenham Borough Lands Charity took over the running of the Pewsham Community Centre from 1st March 2024.
Chippenham Borough Lands Charity owns The Arc (climbing centre and skatepark) which opened in late February 2022 with the official opening taking place on the 9th April 2022. This is leased to The Climbing Academy who run and manage the centre. The Charity own The Arc play park which is housed next door to the climbing centre on Westmead Playing Field.
Allowing public access to the land and provision of community facilities enables the Trustees to fulfil the objective of the provision of recreational facilities, as outlined at objective (b), in addition to granting financial awards for this purpose.
Page 17
**Report of the Trustees for the Year Ended 31 March 2024**
## **Investment policy and objectives**
The investment policy states that the best investment performance should be obtained without undue risk to the invested charitable funds. The Trustees seek a well-balanced portfolio and expect an appropriate increase in the capital value over time along with a rising level of income. The strategy is reviewed with our investment managers annually.
Trustees manage income on a total return basis. The investment managers have discretionary management of the funds. The trustees monitor investment performance by meeting with the fund managers and receiving quarterly reports, which include benchmark comparisons.
## **Reserves policy**
The Trustees of the Chippenham Borough Lands Charity will hold enough reserves:
- To cover 3 months running costs and redundancy costs of six staff.
- To cover grants for up to one year.
- To cover any existing projects.
The reserves are held within the unrestricted fund and are not held in a separate account or shown separately in the accounts. The outstanding commitments are reviewed quarterly by the Trustees to ensure that the level of reserves is adequate. Should the Trustees ever find that the reserves have fallen below the required level they will increase them by limiting the number of charitable grants until the reserves rise to an acceptable level again.
## **Principal Accounting Policies**
The financial statements for the year ended 31 March 2024 have been prepared in accordance with the accounting policies noted on page 20 and the Statement of Recommended Practice - Accounting and Reporting by Charities 2015 (FRS 102).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT History, Structure, Governance & Management**
Chippenham Borough Lands Charity is an unincorporated registered charity, number 270062. The governing documents of the Charity are the Statutory Instrument no 843, dated 18 April 1990 and the subsequent amendments which can be seen on the Charity Commission website.
In 1554, Queen Mary Tudor gave assistance to Chippenham by means of a Royal Charter to help meet the expense of sending two local MPs to Parliament. This established what is now known as the Chippenham Borough Lands Charity and was administered by the Bailiff and Burgesses of Chippenham. Charters amending the original Charter were granted by later Monarchs and included confirmation of the gift of lands in and around the town of Chippenham.
Page 18
**Report of the Trustees for the Year Ended 31 March 2024**
The Local Government Review in 1835 gave Chippenham the status of Borough and from its creation the new Borough Council assumed the properties, debts and assets of the Bailiff and Burgesses including the Borough Lands of Chippenham. The 1974 Local Government Act created North Wiltshire District Council which succeeded to the properties, debts, land, and assets of the old Borough Council, including the ownership and administration of the Borough Lands.
Shortly after the formation of the District Council there was a detailed study of the Charters and Deeds. Advice from Counsel indicated that the various Charters created a Charitable Trust. This meant that the Borough Lands, which at that time comprised an area more than 100 acres, formed the Endowment of a Charitable Trust. This advice was confirmed by the Charity Commission and meant that the District Council merely owned the property as a Charity Trustee for the benefit of the town of Chippenham. The Charity Commissioners required a scheme to be prepared to update the objects of the Charity. Investigations established that some of the Borough Lands had been unlawfully used by the old Borough Council and financial reparations had to be made to compensate for the loss. There have also been subsequent sales of further Charity land for industrial purposes, which significantly increased the funds of the Charity.
During its period of administration, the North Wiltshire District Council, as the Trustee of the Charity, created a small committee which dealt with Charity matters until the new Scheme updating the Charity, known as the Charities (Borough Lands Charity) Chippenham Order 1990, came into force on 18 April 1990. At that date, 12 new Trustees were appointed, and the District Council formally handed over all deeds, documents, and assets of the Charity at a public meeting on 23 October 1990.
The Trustees who have served during the year and since the year-end are set out on page 28.
The full Trustee Board meeting takes place quarterly. The Grants subcommittee meet quarterly to consider grant applications. The Finance and Governance subcommittee meets quarterly, to discuss financial and governance issues for recommendation to the main Board.
The day-to-day management of the Charity is delegated to the Chief Executive Officer, Ms Beth Gardner. The Administrator is a full-time member of staff. Other part-time members of staff who report directly to the CEO include: a Welfare Grants Officer, an Education and Arts Officer and a Communications Officer. The CEO reports directly to the Chair of Trustees.
The Trustees' future aims and key objectives for the Charity are to continue to make awards whilst monitoring capital assets and investment income levels and to improve the land for the benefit of the inhabitants of Chippenham.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management**
The Charity's risk and potential risks are reviewed at quarterly Finance and Governance meetings by the CEO and Trustees, and where considered appropriate, mitigations to reduce this risk are put in place. All the Charity's policies and procedures are reviewed by the trustees at least annually. All new policies and any revisions to existing policies are recorded in the Trustees' minutes and included within our policy document. Policies and procedures are also reviewed with changes to relevant current legislation. The highest risk to the charity is financial stability with the majority of its income coming from investments. Investment managers are asked to present to the board twice yearly projected revenue stream. Quarterly Finance and Governance committee meetings review profit and loss accounts to ensure the charity is solvent and operating to budget.
Page 19
**Report of the Trustees for the Year Ended 31 March 2024**
Health and safety policies such as fire and home working are reviewed annually and signed off by the Board.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Registered Charity number 270062
Principal address from August 2022 The Bank House Bath Road Chippenham Wiltshire SN15 2SA
Former address to August 2022 32 Market Place Chippenham Wiltshire SN15 3HP
## **Trustees**
All Trustees serve an initial term of office of up to four years and no longer than a maximum of two full terms of office. After two full terms of office all Trustees retire but may apply to be re-appointed after a period of two years from their retirement date.
The body of Trustees consists of up to six Nominated Trustees and seven Co-opted Trustees giving a total of thirteen Trustees.
Newly appointed Trustees are invited to attend an induction, prior to attending their first Board meeting, at which they are briefed on the history and policies of the Charity. The Trustee meets individual members of staff and spends a short time with each to familiarise themselves with the staff roles. The Chairperson of Trustees also attends the induction to explain what is expected of all Trustees. An information pack is presented to the Trustee covering all the areas outlined at the induction. All Trustees are encouraged to attend appropriate conferences, seminars, and training opportunities as they arise.
The Nominated Trustees are appointed as follows:
- 1 Chippenham Burgesses Guild
- 1 Chippenham Chamber of Commerce
- 1 Chippenham Churches Together
- 1 Chippenham Town Council
1 Community
- 1 North Wiltshire Citizens' Advice Bureau
The Co-opted Trustees are appointed by the Nominated Trustees.
Page 20
**Report of the Trustees for the Year Ended 31 March 2024**
The Trustees of the Charity who served during the financial year 2023-2024 were:
Ms J Budgell (Chair from 17 June 2024) Ms L Candy Mr J Cook Ms A Foster Ms S Linacre Ms G McKibbin Mrs J Shadwell Mr D Sandberg - retired from 11 September 2023 Mr R Squires - retired from 11 September 2023 Mr D Steele - retired from 12 June 2023 Mr P Wren (Chair) – retired from 10 June 2024 Ms F Young – retired from 10 June 2024
*Trustees that belong to or are involved with an organisation which may be perceived to be a related party to this Charity. The details are reported in Section 9 of the Notes to the Financial Statement of these accounts.
The Trustees may exercise the following powers, but only for the purpose of following the objectives detailed above:
## - to appropriate land.
- to amend provisions of existing governing documents subject to written approval of the Charity Commissioners and a resolution passed at a special meeting of the Trustees.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Auditors Mander Duffill Chartered Accountants & Statutory Auditor The Old Post Office 41-43 Market Place Chippenham Wiltshire SN15 3HR
Solicitors Thrings 6 Penny Lane Drakes Way Swindon SN3 3LL
Fund Managers Sarasin & Partners LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU
Page 21
## **Report of the Trustees for the Year Ended 31 March 2024**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Principles).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity Statement of Recommended Practice (SORP);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... J Budgell – Chair of Trustees
Page 22
## **Report of the Independent Auditors to the Trustees of Chippenham Borough Lands Charity**
## **Opinion**
We have audited the financial statements of Chippenham Borough Lands Charity (the 'charity') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
- In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Page 23
## **Report of the Independent Auditors to the Trustees of Chippenham Borough Lands Charity**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In planning and designing our audit tests, we identify and assess the risks of material mis-statements, whether due to fraud or error. Our risk assessment procedures included:
- Enquiries of management about the entities policies and procedures on compliance with laws and regulations and whether they were aware of any instances of noncompliance together with the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
- Enquiries of management about the entities policies and procedures on fraud risks, including any actual, suspected or alleged fraud.
- Considered the nature of the industry and sector, control environment and business performance including the key drivers for directors' remuneration, bonus levels and performance targets. - Reading minutes of meetings of those charged with governance.
We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Page 24
## **Report of the Independent Auditors to the Trustees of Chippenham Borough Lands Charity**
We obtained an understanding of the legal and regulatory frameworks that the entity operates in, through discussions with the director, and from our commercial knowledge and experience of the sector in which the company operates, to enable us to identify the key laws and regulations applicable to the company. We focused on specific laws and regulations which we considered may have a direct material effect on the financial statement or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override of controls including the following:
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Enquiry of management concerning actual and potential litigation and claims.
- Reviewing correspondence with HMRC, and the company's legal advisors.
- Addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether judgements made in making accounting estimates are indicative of a potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing noncompliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Mander Duffill Chartered Accountants & Statutory Auditor The Old Post Office 41-43 Market Place Chippenham Wiltshire SN15 3HR
Date: .............................................
Page 25
## **Statement of Financial Activities for the Year Ended 31 March 2024**
|Unrestricted
funds
Notes
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
2
30,960
**Charitable activities**
4
Letting of properties, room
hire and car park
23,273
Investment income
3
18,717
Other income
340
**Total**
73,290
**EXPENDITURE ON**
Raising funds
5
-
**Charitable activities**
6
Relief of the disadvantaged
68,463
Advancement of education
and work with young people
76,768
Promotion of other charitable
purposes
84,908
Letting of properties, room
hire and car park
1,374
Other
430,329
**Total**
661,842
Net gains/(losses) on
investments
(69,323)
**NET**
**INCOME/(EXPENDITURE)**
(657,875)
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
2,816,562
**TOTAL FUNDS CARRIED**
**FORWARD**
2,158,687|Unrestricted
funds
Notes
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
2
30,960
**Charitable activities**
4
Letting of properties, room
hire and car park
23,273
Investment income
3
18,717
Other income
340
**Total**
73,290
**EXPENDITURE ON**
Raising funds
5
-
**Charitable activities**
6
Relief of the disadvantaged
68,463
Advancement of education
and work with young people
76,768
Promotion of other charitable
purposes
84,908
Letting of properties, room
hire and car park
1,374
Other
430,329
**Total**
661,842
Net gains/(losses) on
investments
(69,323)
**NET**
**INCOME/(EXPENDITURE)**
(657,875)
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
2,816,562
**TOTAL FUNDS CARRIED**
**FORWARD**
2,158,687|Restricted
fund
£
43,161
-
-
-
43,161
-
-
-
-
-
-
-
-
43,161
-|31.3.24
Endowment
Total
funds
funds
£
£
-
74,121
-
23,273
471,198
489,915
-
340
471,198
587,649
67,372
67,372
-
68,463
-
76,768
-
84,908
-
1,374
-
430,329
67,372
729,214
1,015,235
945,912
1,419,061
804,347
13,830,057
16,646,619
15,249,118
17,450,966|31.3.24
Endowment
Total
funds
funds
£
£
-
74,121
-
23,273
471,198
489,915
-
340
471,198
587,649
67,372
67,372
-
68,463
-
76,768
-
84,908
-
1,374
-
430,329
67,372
729,214
1,015,235
945,912
1,419,061
804,347
13,830,057
16,646,619
15,249,118
17,450,966|31.3.23
Total
funds
£
-
31,566
464,305
-
495,871
65,647
80,302
76,870
158,088
8,093
286,876
675,876
(858,590)
(1,038,595)
17,685,214
16,646,619|31.3.23
Total
funds
£
-
31,566
464,305
-
495,871
65,647
80,302
76,870
158,088
8,093
286,876
675,876
(858,590)
(1,038,595)
17,685,214
16,646,619|
|---|---|---|---|---|---|---|
||||||||
||||||||
||||||||
||||||||
||||||||
|||43,161||17,450,966||16,646,619|
Page 26
## **Balance Sheet 31 March 2024**
|Unrestricted
Restricted
funds
fund
Notes
£
£
**FIXED ASSETS**
Tangible assets
11
1,404,350
-
**Investments**
Investments
12
1
-
Investment property
13
164,616
-
1,568,967
-
**CURRENT ASSETS**
Debtors
14
105,636
-
Cash at bank
579,927
43,161
685,563
43,161
**CREDITORS**
Amounts falling due within
one year
15
(95,843)
-
**NET CURRENT ASSETS**
589,720
43,161
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
2,158,687
43,161
**NET ASSETS**
2,158,687
43,161
**FUNDS**
16
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|31.3.24
Endowment
Total
funds
funds
£
£
130,022
1,534,372
13,683,712
13,683,713
1,435,384
1,600,000
15,249,118
16,818,085
-
105,636
-
623,088
-
728,724
-
(95,843)
-
632,881
15,249,118
17,450,966
15,249,118
17,450,966
2,158,687
43,161
15,249,118
17,450,966|31.3.23
Total
funds
£
1,555,502
12,967,841
1,600,000
16,123,343
101,291
490,138
591,429
(68,153)
523,276
16,646,619
16,646,619
2,816,562
-
13,830,057
16,646,619|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J M Budgell - Trustee
............................................. G McKibbin - Trustee
Page 27
|**Cash Flow Statement**
**for the Year Ended 31 March 2024**
31.3.24
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
(512,474)
Interest paid
-
Net cash used in operating activities
(512,474)
**Cash flows from investing activities**
Purchase of tangible fixed assets
(8,089)
Purchase of investment property
(69,323)
Sale of tangible fixed assets
1,030
Sale of fixed asset investments
299,263
Interest received
18,717
Dividends received
471,198
Net cash provided by investing activities
712,796
**Cash flows from financing activities**
Income attributable to endowment
-
Expenditure attributable to endowment
(67,372)
Net cash used in financing activities
(67,372)
**Change in cash and cash equivalents**
**in the reporting period**
132,950
**Cash and cash equivalents at the**
**beginning of the reporting period**
490,138
**Cash and cash equivalents at the end**
**of the reporting period**
623,088|31.3.23
£
(311,342)
(25)
(311,367)
(209,148)
(44,891)
-
153,105
2,237
462,068
363,371
(12,390)
(65,647)
(78,037)
(26,033)
516,171
490,138|
|---|---|
Page 28
## **Notes to the Cash Flow Statement for the Year Ended 31 March 2024**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
(Gain)/losses on investments
Profit on disposal of fixed assets
Interest received
Interest paid
Dividends received
Income attributable to endowment
Expenditure attributable to endowment
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash used in operations**|31.3.24
£
804,347
28,529
(945,912)
(340)
(18,717)
-
(471,198)
-
67,372
(4,245)
27,690
(512,474)|31.3.23
£
(1,038,595)
16,755
858,590
-
(2,237)
25
(462,068)
12,390
65,647
272,272
(34,121)
(311,342)|
|---|---|---|
**2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.4.23|Cash flow|At 31.3.24|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|490,138|132,950|623,088|
||490,138|132,950|623,088|
|**Total**|490,138|132,950|623,088|
Page 29
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Critical accounting judgements and key sources of estimation uncertainty**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying value of assets and liabilities include freehold land and buildings valuations as described in the fixed asset note.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Raising funds**
Raising funds includes all expenditure incurred in the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and no charitable trading.
## **Charitable activities**
Charitable expenditures comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.
## **Governance costs**
Governance costs include the costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
Page 30
**Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Allocation and apportionment of costs**
Costs have been allocated either on a direct basis or on a basis of the percentage of grant awards made for each charitable activity or on a usage for the property related costs.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold buildings - 2% on cost Community centres and similar assets - 4% on cost Off-site equipment - 20% on reducing balance Office equipment - 20% on reducing balance
Freehold land is not depreciated.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising from investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Government grants**
Income from grants is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.
Page 31
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Investments**
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains / (losses) on investments' in the Statement of Financial Activities if the shares are publicly traded or their fair value can otherwise be measured reliably.
Investments in the subsidiary are stated at cost less any provision for impairment.
## **Heritage assets**
During the year the charity acquired by donation the assets of Lackham Museum of Agriculture. this comprised the Museum Collection and the Cash of the museum.
The cash balance relating to Lackham Museum of Agriculture is disclosed as a separate restricted fund.
## **Government grants**
It is the policy of the Charity not to capitalise heritage assets belonging to the Museum, where a reliable estimate cannot be made of the asset’s fair value or the information on cost or value is not available and which cannot be obtained at a cost which is commensurate with the benefits to the users of the financial statements. These are in effect inalienable, held in perpetuity, and are mostly irreplaceable. Any financially based valuation would be misleading to the value and significance of the material culture involved.
The charity has a clear duty of care for these assets and to make them available for the enjoyment and education of the public as far as is possible, commensurate with their long-term care and preservation.
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**INVESTMENT INCOME**
Other fixed asset invest - FII
Interest receivable
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Rents received
Letting of properties, room hire and car
park|31.3.24
£
74,121
31.3.24
£
471,198
18,717
489,915
31.3.24
£
23,273|31.3.23
£
-
31.3.23
£
462,068
2,237
464,305
31.3.23
£
31,566|
|---|---|---|
||||
Page 32
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **5. RAISING FUNDS**
## **Investment management costs**
|Portfolio management
Sarasin portfolio management rebate|31.3.24
£
95,893
(28,521)
67,372|31.3.23
£
95,734
(30,087)
65,647|
|---|---|---|
## **6. CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**|||||
|---|---|---|---|---|
|Relief of the disadvantaged
Advancement of education and work
with young people
Promotion of other charitable
purposes
Letting of properties, room hire and
car park|Direct
Costs
£
2,336
-
74,269
1,374|Grant
funding of
activities
(see note
7)
£
66,127
76,768
72,621
-|Support
costs (see
note 8)
£
-
-
(61,982)
-|Totals
£
68,463
76,768
84,908
1,374
231,513|
||77,979|215,516|(61,982)||
Page 33
## **Notes to the Financial Statements – continued for the Year Ended 31 March 2024**
## **7. GRANTS PAYABLE**
|**GRANTS PAYABLE**|||
|---|---|---|
|Relief of the disadvantaged
Advancement of education and work with young people
Promotion of other charitable purposes
The total grants paid to institutions during the year was as follows:
Relief of the disadvantaged
Advancement of education and work with young people
Promotion of other charitable purposes
The total grants paid to individuals during the year was as follows:
Relief of the disadvantaged
Advancement of education and work with young people
Promotion of other charitable purposes|31.3.24
£
66,127
76,768
72,621
215,516
31.3.24
£
45,119
76,468
32,623
154,210
31.3.24
£
21,008
300
39,998
61,306|31.3.23
£
75,378
74,790
71,753
221,921
31.3.23
£
47,005
73,067
67,517
187,589
31.3.23
£
28,373
1,723
4,236
34,332|
||||
A total of 58 (2023: 44) grants were awarded to institutions during the year; 12 (2023: 11) for the relief of the disadvantaged, 32 (2023: 17) for advancements of education and work with young people and 14 (2023: 16) for the promotion of other charitable purposes. Details of the grants are set out below:
|Promotion of other charitable purposes - institutions
Advancement of education and work with young people
Promotion of other charitable purposes
Relief of disadvantaged
Total awarded institutions|2024
£
76,468
32,622
45,119
154,209|2023
£
69,421
50,900
46,500
166,821|
|---|---|---|
Page 34
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **7. GRANTS PAYABLE - continued**
|Food vouchers
Other grants provided to individuals
Write back creditor awards not paid out
Promotion of other charitable purposes - institutions
Charter Rose Resource Base
The Rise Trust
Chippenham Hospital Centre
CPM sounds CIC
Sheldon Road Methodist Church Beacon Centre
The Stay Safe Initiative CIC
Wilts and Berk Canal Trust
Yesterdays Story CIC
Youth adventure Trust
Refashion my town
Youth Adventure Trust
Pewsham Stay and Play
Inclusive Intergenerational Dance
Chippenham RFC
Friends of St Peter's
Chippenham Pride CIC
Chippenham Sports Club
SPLASH Wiltshire
Heals
Chippenham Uniform Exchange
Chippenham Folk Festival|35,070
28,318
(2,081)
215,516
2024
£
-
9,600
-
-
-
1,500
-
-
1,500
-
-
500
1,785
1,500
5,000
2,000
1,500
5,000
1,237
1,500
-|32,000
39,483
(16,383)
221,921
2023
£
1,364
-
1,500
1,500
1,300
1,500
10,000
4,959
2,420
14,775
2,420
-
-
-
-
-
-
-
-
-
10,000
51,738|
|---|---|---|
||32,622||
Page 35
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **7. GRANTS PAYABLE - continued**
|Relief of the disadvantaged - institutions
Back on Track - Stroke Rehab
Doorway Wiltshire
Chippenham Day Centre
Inclusive Intergenerational Dance
Relate Wiltshire and Somerset
Sheldon Methodist Church Beacon Centre
St Peters Church
Waste Not Want Not
Chippenham Debt Centre
Dorothy House Hospice Care
Alzheimers Support
Wiltshire Citizens Advice Bureau
Chippenham Salvation Army
Chippenham Shed
Wiltshire Bobby Van Trust|2024
£
5,000
4,500
-
-
-
1,500
3,000
5,000
-
20,000
2,337
1,500
500
895
887
45,119|2023
£
10,000
15,000
3,000
1,500
10,390
2,000
2,500
5,000
10,000
-
-
-
-
-
-
59,390|
|---|---|---|
## **8. SUPPORT COSTS**
|**SUPPORT COSTS**|||||
|---|---|---|---|---|
|Other resources expended
Promotion of other charitable purposes
Other resources expended
Promotion of other charitable purposes|Management
Finance
£
£
280,487
341
(61,982)
-
218,505
341
Building
Admin
Governance
support
support
costs
£
£
£
43,323
65,370
10,348
-
-
-|||Other
charitable
costs
£
30,460
-
30,460
Totals
£
430,329
(61,982)
368,347|
||43,323|65,370|10,348||
Page 36
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **8. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Management**
|Salaries and wages
Social security
Pensions
Sundries
Legal and professional
Land maintenance
**Finance**
Bank charges
**Other charitable costs**
Insurance
Maintenance of mobility aids
Play area
Depreciation of tangible fixed assets|Other
resources
expended
£
162,196
6,310
-
72,198
18,035
21,748
280,487|Promotion
of other
charitable
purposes
£
(61,033)
(2,472)
1,523
-
-
-
(61,982)|31.3.24
Total
activities
£
101,163
3,838
1,523
72,198
18,035
21,748
218,505|31.3.23
Total
activities
£
76,462
4,682
1,796
6,646
37,537
24,389
151,512
31.3.23
Total
activities
£
312
31.3.23
Total
activities
£
1,552
383
10,500
16,755
29,190|
|---|---|---|---|---|
||||31.3.24
Other
resources
expended
£
341
31.3.24
Other
resources
expended
£
1,931
-
-
28,529
30,460||
||||||
Page 37
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **8. SUPPORT COSTS - continued Building support**
|31.3.24
Other
resources
expended
£
Insurance
1,931
Light and heat
7,517
Repairs and maintenance
33,875
43,323
**Admin support**
31.3.24
Other
resources
expended
£
Insurance
1,931
Telephone
3,991
Postage and stationery
2,188
Training
688
Memberships and subscriptions
956
Computer software and maintenance
54,895
Advertising
-
Room hire
721
65,370
**Governance costs**
31.3.24
Other
resources
expended
£
Trustees' expenses
148
Auditors' remuneration
6,900
Auditors' remuneration for non audit
work
3,300
Bank interest
-
10,348|31.3.23
Total
activities
£
1,552
9,504
47,363
58,419
31.3.23
Total
activities
£
1,552
5,128
3,946
4,356
894
20,589
569
533
37,567
31.3.23
Total
activities
£
442
6,840
4,200
25
11,507|
|---|---|
## **Admin support**
## **Governance costs**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Page 38
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **9. TRUSTEES' REMUNERATION AND BENEFITS - continued**
## **Trustees' expenses**
Trustees were reimbursed for travel costs totalling £148 (2023: £442) incurred whilst representing the charity during the year.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Pension|2024
£
162,195
6,310
2,839
171,344|2023
£
148,235
12,766
3,096|
|---|---|---|
|||164,097|
The total amount of employee benefits received by key management personnel is £56,918 (2023: £44,776). The charity considers its key management personnel comprises the trustees and the Chief Executive Officer.
The average monthly number of employees during the year was as follows:
|Welfare Officer
Education Officer
Administration|31.3.24
1
1
5
7|31.3.23
1
1
5
7|
|---|---|---|
No employees received emoluments in excess of £60,000.
Page 39
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **11. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**COST**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Freehold
land
£
481,293
-
-
481,293
-
-
-
-
481,293
481,293
Off-site
equipment
£
89,990
-
-
89,990
81,191
1,877
-
83,068
6,922
8,799|
Freehold
buildings
£
738,734
-
-
738,734
23,200
5,800
-
29,000
709,734
715,534
Office
equipment
£
46,629
8,089
(1,079)
53,639
30,113
6,031
(389)
35,755
17,884
16,516|Community
centres
and
similar
assets
£
358,960
-
-
358,960
25,600
14,821
-
40,421
318,539
333,360
Totals
£
1,715,606
8,089
(1,079)
1,722,616
160,104
28,529
(389)
188,244
1,534,372
1,555,502|
|---|---|---|---|
Page 40
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **11. TANGIBLE FIXED ASSETS - continued**
Included in cost or valuation of land and buildings is freehold land of £481,293 (2023 - £481,293) which is not depreciated.
Freehold land and buildings are included at valuation. The valuation was performed by an independent valuer Carter Jonas on 22 February 2019.
The historic costs of the freehold land and buildings was £523,574 (2023: £523,574) and accumulated depreciation to date would have been £292,423 (2023: £281,952) had the assets been carried forward under the cost model.
## **12. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1 April 2023
Disposals
Revaluations
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Shares in
group
Listed
undertakings
investments
Totals
£
£
£
1
12,967,840
12,967,841
-
(299,263)
(299,263)
-
1,015,135
1,015,135
1
13,683,712
13,683,713
1
13,683,712
13,683,713
1
12,967,840
12,967,841|
|---|---|
## **Investment in group undertakings**
Investments held by the charity include a £1 investment in a 100% owned subsidiary company, CBLC Trading Limited, a company registered in England and Wales (company number: 12404706).
The subsidiary's net profit for the year was £Nil (2023:profit of £51,812) and capital and reserves as at 31 March 2024 amounted to £98 (2023: £98).
Page 41
## **Notes to the Financial Statements – continued for the Year Ended 31 March 2024**
## **12. FIXED ASSET INVESTMENTS - continued**
## **Listed Investments**
The investments were held by Sarasin & Partners LLP to invest on the charity's behalf. These are not owned by the Charity and the portfolio is managed by Sarasin & Partners LLP with guidance provided by the Charity's investment policy documents. These investments are held in units in Sarasin's Endowments Fund Class A Inc and Blackrock's ICS Sterling Liquidity Fund and are not direct investments.
Split as follows:
|Split as follows:|||
|---|---|---|
|Fixed interest
Equities
Property
Alternative assets
Liquid assets|2024
£
1,694,899
10,022,488
487,320
939,122
539,883|2023
£
1,883,741
8,388,340
561,387
1,569,040
565,332
12,967,840|
||13,683,712||
Cost or valuation at 31 March 2024 is represented by:
|Valuation in 2024
Cost|Shares in
group
undertakings
£
-
1
1|Listed
investments
£
3,857,823
9,825,889
13,683,712|Totals
£
3,857,823
9,825,890
13,683,713|
|---|---|---|---|
The investment property is valued by the trustees on an annual basis for impairment.
Page 42
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **13. INVESTMENT PROPERTY**
|**FAIR VALUE**
At 1 April 2023
Additions
Revaluation
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
Fair value at 31 March 2024 is represented by:
Valuation in 2024
Cost
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments and accrued income
**15.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors|31.3.24
£
9,732
88,893
7,011
105,636
31.3.24
£
59,440
-
36,403
95,843|£
1,600,000
69,323
(69,323)
1,600,000
1,600,000
1,600,000
£
(1,683,714)
3,283,714
1,600,000
31.3.23
£
1,819
89,553
9,919
101,291
31.3.23
£
49,472
2,922
15,759
68,153|£
1,600,000
69,323
(69,323)
1,600,000
1,600,000
1,600,000
£
(1,683,714)
3,283,714
1,600,000
31.3.23
£
1,819
89,553
9,919
101,291
31.3.23
£
49,472
2,922
15,759
68,153|
|---|---|---|---|
|||||
|||||
Page 43
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **16. MOVEMENT IN FUNDS**
|At 1.4.23
£
**Unrestricted funds**
General fund
2,816,562
**Restricted funds**
Lackham Museum
-
**Endowment funds**
Unapplied Total Return
11,538,436
Permanent Endowment
2,291,621
13,830,057
**TOTAL FUNDS**
16,646,619
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
73,290
(661,842)
**Restricted funds**
Lackham Museum
43,161
-
**Endowment funds**
Unapplied Total Return
471,198
(67,372)
**TOTAL FUNDS**
587,649
(729,214)
**Comparatives for movement in funds**
Prior
year
At 1.4.22
adjustment
£
£
**Unrestricted funds**
General fund
3,070,731
369,669
**Endowment funds**
Unapplied Total Return
11,953,193
-
Permanent Endowment
2,291,621
-
14,244,814
-
**TOTAL FUNDS**
17,315,545
369,669|Net
movement
in funds
£
(657,875)
43,161
1,419,061
-
1,419,061
804,347
Gains and
losses
£
(69,323)
-
1,015,235
945,912
Net
movement
in funds
£
(623,838)
(414,757)
-
(414,757)
(1,038,595)|
At
31.3.24
£
2,158,687
43,161
12,957,497
2,291,621
15,249,118
17,450,966
Movement
in funds
£
(657,875)
43,161
1,419,061
804,347
At
31.3.23
£
2,816,562
11,538,436
2,291,621
13,830,057
16,646,619|
|---|---|---|
Page 44
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **16. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
33,282
(610,229)
(46,891)
**Endowment funds**
Unapplied Total Return
462,589
(65,647)
(811,699)
**TOTAL FUNDS**
495,871
(675,876)
(858,590)
A current year 12 months and prior year 12 months combined position is as follows:
Prior
Net
year
movement
At 1.4.22
adjustment
in funds
£
£
£
**Unrestricted funds**
General fund
3,070,731
369,669
(1,281,713)
**Restricted funds**
Lackham Museum
-
-
43,161
**Endowment funds**
Unapplied Total Return
11,953,193
-
1,004,304
Permanent Endowment
2,291,621
-
-
14,244,814
-
1,004,304
**TOTAL FUNDS**
17,315,545
369,669
(234,248)
A current year 12 months and prior year 12 months combined net movement in funds,
above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
**Unrestricted funds**
General fund
106,572
(1,272,071)
(116,214)
**Restricted funds**
Lackham Museum
43,161
-
-
**Endowment funds**
Unapplied Total Return
933,787
(133,019)
203,536
**TOTAL FUNDS**
1,083,520
(1,405,090)
87,322|
Movement
in funds
£
(623,838)
(414,757)
(1,038,595)
At
31.3.24
£
2,158,687
43,161
12,957,497
2,291,621
15,249,118
17,450,966
included in the
Movement
in funds
£
(1,281,713)
43,161
1,004,304
(234,248)|
|---|---|
Page 45
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **17. RELATED PARTY DISCLOSURES**
During the period a company owned by trustee Jenny Budgell, provided accountancy services to the charity charged at £2,190 (2023: £1,665). As at 31 March 2024, costs of £240 (2023: £1,665) was included within accruals for these services.
During the year the charity received donations £30,900 from CBLC Trading Limited, a group undertaking of the charity.
Included in Debtors is £85,129 (2023: £87,764) receivable from CBLC Trading Limited, a group undertaking of the charity.
## **18. UNAPPLIED TOTAL RETURN**
On 1 June 2020, the Charity trustees made a resolution under section 104A(2) of the Charities Act 2011 to adopt a total return on investment approach to the charities permanent endowment fund. On 1 June 2020 the Trustees identified the value of the gifts of permanent endowment received since the fund was established to that date. This set a baseline value of the gift component of the the endowment to which any subsequent gifts of endowment are added. The difference between the total of endowment funds as at 1 June 2020 and the value of the gift component represented the opening balance of unapplied total return. The initial value of the unapplied total return fund on 1 June 2020 was £11,443,483.
The power of total return permits the trustees to invest permanently endowed funds to maximise total return and to apply an appropriate portion of the unapplied total return to income each year.
Until the power is exercised to transfer a portion of unapplied total return to income, the unapplied total return remains invested as part of permanent endowment. The power allows the trustees to decide in each year how much of the unapplied total return is transferred to income funds and so available for expenditure. Having considered their obligations under the duty of even-handedness the trustees have made a transfer of £Nil from the unapplied total return to unrestricted funds in 2023/24. In making this decision the trustees have taken into account the investment climate, the return on investment for the year and the income needs of the charity.
The trustees have undertaken to maintain the total endowment fund at a value of no lower than £10,000,000.
Page 46
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2024**
## **18. UNAPPLIED TOTAL RETURN - continued**
|**At 1 April 2023**
**Movements in the reporting period:**
Investment return
Realised gains and (losses)
Less: investment management costs
Transfer to unrestricted fund
**Net movements in reporting period**
**At 31 March 2024**
Gift component of the permanent
endowment
Unapplied total return
Total|**Permanent**
**endowment**
**£**
2,291,621
-
-
-
-
-
2,291,621
-
2,291,621|**Unapplied**
**total return**
**£**
11,538,436
471,198
1,015,235
(67,372)
-
1,419,061
-
12,957,497
12,957,497|**Total**
**Endowmen**
**t**
**£**
13,830,057
471,198
1,015,235
(67,372)
-
1,491,061
2,291,621
12,957,497
15,249,118|
|---|---|---|---|
Page 47
|**Detailed Statement of Financial Activities**|||
|---|---|---|
|**for the Year Ended 31 March 2024**|||
||31.3.24|31.3.23|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|74,121|-|
|**Investment income**|||
|Other fixed asset invest - FII|471,198|462,068|
|Interest receivable|18,717|2,237|
||489,915|464,305|
|**Charitable activities**|||
|Rents received|23,273|31,566|
|**Other income**|||
|Gain on sale of tangible fixed assets|340|-|
|**Total incoming resources**|587,649|495,871|
|**EXPENDITURE**|||
|**Investment management costs**|||
|Portfolio management|95,893|95,734|
|Sarasin portfolio management rebate|(28,521)|(30,087)|
||67,372|65,647|
|**Charitable activities**|||
|Salaries and wages|61,033|70,895|
|Social security|2,472|3,084|
|Pensions|1,316|1,300|
|Rates and water|1,724|8,597|
|Insurance|1,931|1,552|
|Light and heat|7,517|9,504|
|Travel & Accommodation|1,431|4,150|
|Entertainment|555|719|
|Grants to institutions|154,210|187,589|
|Grants to individuals|61,306|34,332|
||293,495|321,722|
|**Support costs**|||
|**Management**|||
|Salaries and wages|101,163|76,462|
|Social security|3,838|4,682|
|Pensions|1,523|1,796|
|Sundries|72,198|6,646|
|Legal and professional|18,035|37,537|
|Land maintenance|21,748|24,389|
||218,505|151,512|
This page does not form part of the statutory financial statements
Page 48
|**Detailed Statement of Financial Activities**|||
|---|---|---|
|**for the Year Ended 31 March 2024**|||
||31.3.24|31.3.23|
||£|£|
|**Management**|||
|**Finance**|||
|Bank charges|341|312|
|**Other charitable costs**|||
|Insurance|1,931|1,552|
|Maintenance of mobility aids|-|383|
|Play area|-|10,500|
|Depreciation of tangible fixed assets|28,529|16,755|
||30,460|29,190|
|**Building support**|||
|Insurance|1,931|1,552|
|Light and heat|7,517|9,504|
|Repairs and maintenance|33,875|47,363|
||43,323|58,419|
|**Admin support**|||
|Insurance|1,931|1,552|
|Telephone|3,991|5,128|
|Postage and stationery|2,188|3,946|
|Training|688|4,356|
|Memberships and subscriptions|956|894|
|Computer software and maintenance|54,895|20,589|
|Advertising|-|569|
|Room hire|721|533|
||65,370|37,567|
|**Governance costs**|||
|Trustees' expenses|148|442|
|Auditors' remuneration|6,900|6,840|
|Auditors' remuneration for non audit work|3,300|4,200|
|Bank interest|-|25|
||10,348|11,507|
|Total resources expended|729,214|675,876|
|**Net expenditure before gains and losses**|(141,565)|(180,005)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset|||
|investments|1,015,235|(813,699)|
|Realised gains/(losses) on investment|||
|property|(69,323)|(44,891)|
|**Net income/(expenditure)**|804,347|(1,038,595)|
This page does not form part of the statutory financial statements
Page 49