2023-12-31-accounts - Wey Island Trust

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WEY ISLAND TRUST REPORTS AND ACCOUNTS 31 December 2023 Registered eharity No. 271549

WEY ISLAND TRUST ACCOUNTS Year ended 31 Deeember 2023 CONTENrs Page General inforniation Report of the Comtnittee of Management l Trustees Balance sheet Statement of financial activities Notes to the accounts

WEY ISLAND TRUST ACCOUNrs Year ended 31 December 2023 GENERAL INFORMATION Registered clwity number 271549 Principal officc (since 18 November 2020) 109 Tiemey Road Streatham IA)ndon SW2 4QQ Committe¢ of Management / Trustees L. J. G. Andrcws E. L. Giles R. Glassborow R. C. Hole A. Saunders C. R. Saunders N. Skilton M. Spiers C. A. Young Hon. Treasurer C. Hole 28 ROU Gardens London SE218AF Member organisations Claphatn Youth C¢ntre DOST Ccntre foryoung RegetS and Migrants Fndeavour Youth Club Ktiights Youth Cetrtrc Island managers D. Rusted K. Spad(es C. Judd (since l November 2023) Strncture of the Committee of Management Chaimian, Treasurer and kcr¢tarY One membcr of cach of the above organisations Bankers Barclays Bank plc Southwth Group IA)ndon SEI

WEY ISLAM) TRUST REPORT OF THE COMMITTEE OF MANAGEMENTrrRUSTEES for the year ended 31 Deeember 2023 The Commiltee of Management ('the trustees,) present their report and the accounts for the year ended 31 December 2023. Legal status and organi8ation Wey Island TTUSt is a registered charity (Charity number 271549). Until I l July 2005 its governing instrutnent w&$ a Declaration of Trust dated 28 May 1975. Effective I l July 2005, its governing instnllnenL is a Scheme, approved by the Cklarity Commissioners for England and Wales. tbe Scheme replaces the fomkeT trusts. There are currently nin¢ lntees, whose names are listed on page l. Management is in the hands of a Committee of ManagemenL which must hold at least two ordinary meetings in each J'ear. The comrnittee is to include representatives of the member OTganisations listed on page l. Nominations for new members of ihe committ¢¢ are put forward by the mcmbcr organisations and are subject to the approval of the committee. All decisions are made by the committee. Principal aim and objective The chief objective of the Trust is the provÉsion of an out-of-town recreational facility for the member organisations listed on page l. who are either based in London Boroughs or cany out their charitable activities throughout l.ondon. Activities The Trust owls a small area of land beside the river Wey near Weybridge, Surrey, which it acquired in 1976. The site h&s been substantially improved and developed over the years. and the buildings on the site now consist of a residential block, a donnitory blocL a toilet and shower block, and a storage facility. The member clubs use the site on a Totating basis, during the months of April to October. and the site and its facilities are also let to other Clubs when not used by the member clubs. Results The Ststement of Financial ActivRties on page 5 shows that there was an unrestricted deficit of £372 in the year ended 31 Deccmber 2023 (2022: unrestricted surplus £1,228). Most of the ¢xpenditure in maintaining the site is recorded in these accounts, but som¢ minor expenses may be borne by the member clubs and not reclaimed from the Trust. Restricted funds at 31 December 2023 available for spend in 2024 amounted to £8,056 (£2,716 at 31 December 2022).

WEY ISLAND TRUST REPORT OF THE COMMITTEE OF MANAGEMENTITRUSTEES for Ihe year ended 31 December 2023 (continued} Duties of the trustees The duties of the trnstees consist priMLlY in maintaining the site and the fabric of the buildings on the site, arranging the funding of both capital and revenue expenditure, and managing the use of th¢ site lo the best advantage of all the member clubs. Trustees, responsibilities in the respect of the accounts As a registered charity, Wey Island Trust is subject to charity law. Its trustees are required to prq)are accounts which give a trne and fair view of the state of affairs of the charity at the end of the finaDciaI year and of the surplus or deficit for that year. In addition, the trustees are responsible for ensuring that adequate accounting TecoTds are maintained. for safeguarding the assets of the charity and hence for taking reasonable steps for prevention and detection of fraud and other irregularities. The trustees confirni that the accounts for the year ended 31 December 2023 have been prepared on a going concern basis, and that suitable accounting policies, consistently applied supported by reasonable and prudent judgements and estin]ates. have been used in their prepaTation, and that applicable accounting standards have been followed. The charity's policy on reserves The trustees have always taken the view that it would not be appropriate for the charity to build up reserves on a planned basis. In ihe past, major expenditure has been fuuded by grants from charitable tnts, as such expendilure has generally been of such magnitude that no reserves would have been sutTicient to fund such expenditure. Financial accountability and general risk assessment The Committee of Management has met several times during the past year. Risk assessments hai'e been carried out. The major risks to which the charity is exposed have been reviewed and systems have been established to mitigate those risks. The Committee of Management considers that the risks assoctated with running their present activities are adequately covered by insurance. sIe R. C. Hole Truste¢ Trustee

WEY ISLAND TRUST BALANCE SHEET at31 December 2023 31.12.23 31.12.22 Fixed as8ets (note 5) 3,350 3,350 Currenl assets Bank deposit account Bank current account Debtors (note 6) 6,174 12.943 2,517 21,634 0,115 6,296 4,25) 16.666 Currellt liabilities Accrued expenses (note 4) Net current assets 21.634 16,666 24,984 20,016 Funds Restricled funds 8,056 2,716 Unrestricted funds Capital grant from Dulverton Trust Members, capital contributions Income and Expenditure Account 2,000 1,830 13,098 2, 000 1,830 13,470 16,928 17,300 24,984 20,016 ers. Trustee R. C. Hole. Trustee Dated.. a¢}&)

WEY ISLAIW TRUST STATEMENf OF FINANCi&kL ACTIVITIES Y¢ar ¢nded 31 Deeember 2023 2023 2022 Unrestricted Restricted Total Tolal Incoming Resources Contributions from member clubs Use of island by third parties Gifts for dorniitory repairs Grant from Clapham Consortium Grant from Violence Reduction Unit Grant from St Barnabas Trust Gifts under GiftAffid GifL4id tax receivable Other gifts received Sale of mower Insurance claim settled Interest received 3,000 800 3,000 800 10,000 3,750 4,994 1,400 5.000 3.000 2,935 J,000 10,000 3,750 4,994 1,400 5,000 5,500 1,375 280 487 180 487 180 626 58 58 Total iDcoming resourees 13.275 16,394 29,669 14,722 Resources Expended (details on page 6} Direct charitsble expenditure Fundraising and publicity Management and administration 13,400 31 216 11,054 24,454 31 216 12.004 490 Total resources expended 13.647 11,054 24,701 12,494 Net intomlngl(-OUtgoing) resources for the year -372 5.340 4.968 2,228 Funds at l January 2023 13,470 2,716 16,186 13, 958 Funds ai 31 December 2023 13,098 8,056 21,154 16.186

WEY ISLAYJ D TRUST STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2023 Icontittued) 2023 2022 Unrestricted Restricted Total Direct eharitable expendilure Staff costs (thote 2): Salaries and allowances less.. allocation to VRU fund (restricted) 7,240 -1,070 6,170 6.189 1,070 1,070 6,189 Major projeets and maintenaAJce: Construction of dormitory block Site: tree work 9,440 9,440 Maintenanee of buildings and site: Mainlenance of buildings Maintenance of site Maintenance of mow¢r and equipment Mower (sn)and) Supplies- new kitchen water heater Supplies= lifebuoy and defibrillator 41 520 443 663 187 96 1,154 273 544 544 1,854 1,523 Other expenses: Casual labour Insurances Electricity Water charges Calor gas supplies Sundry expenses 400 3.186 722 889 164 15 5,376 3,114 840 181 156 4.29] Fundraising and publicity: Website expenses 31 275 ManagemeDt and admillistratioll: Fundraising fees 216 216 Total expendithre (to page 5) 13,647 12,4

WEY ISLAND TRUST NOTES TO THE Accouwrs for the year ended 31 Deeember 2023 I. ACCOUNTING POLICIES (a) Basis of accounting The accounts arc prepared under the historical cost convention and in accordance with thc Charities SORP (FRSSF.) 2015 as updated October 2019, and applicable accounting standards. (b) Amortisation of Fixed Assets and ofcapital Grants The amortisation charge on buildings and equipment is treated as a deduction from the capital grants and gifts received for the relevant construction work. Buildings are amortised at an annual rate of l 0/0 on cosL and l)eating and hot water installations at 20% on Cost. Equipment is amortised at an annual rate of 200/0 on cost. No amortisation is provided on the freehold land. (c) Incoming resources Grants receivable are treated as income in the year in which they are received, and any grants received for future periods are carried fonvard as restricted or unrestri¢led funds. Legacies, donations and other voluntary income are treated as income in the year that they are received, with the exception of earniarked donations. which will be carried fonvard if not fully spent on their earniarked purpose. (d) Resources expended All expenditure direLtly related to direct charitable expenditure, fundraising and publicity, and to management and administration has been separately Identified in the accounting records. 2. STAFF COSTS 2023 2022 Salaries Allowances 7,000 240 5,949 240 J8 3. TRUSTEES, IiEMUNEIL4TION AND EXPENSES No remunerntion or expenses w¢re paid to any of the tTUStees.

WEY ISLAIW TRUST NOTES TO THE ACCOTJNTS For the year ended 31 December 2023 (eontillued) 4. ACCRUED EXPENSES 2023 2022 Utilities Freehold land Buildings Equipment Totsl 5. FIXED ASSETS Cost: At 1.1.23 Additions in the year At31.12.23 3.250 82.910 2.631 88,791 3,250 82,910 2,631 88,791 Amortisation: At 1.1.23 Charge for the y¢&r At31.12.23 82.815 2.626 85.411 82,815 2,626 85,411 At31.12.23 3.250 95 3,350 At 31.12.22 3,250 95 3,350 Note on the Freehold Land= The freehold land is shown at the cost of acquisition in 1971 of the land together with building5 thereon- those buildings were demolished many years ago. In the opinion of the trustees. the current value of the land is not less than the £3,250 shown above. 6. DEBTORS 2023 2022 GiftAid tax recoverable Fee for island use Managers, expense floats Prepaid insurances J.375 400 100 2,380 4,2ii loo 2,417 2.517

WEY ISLAND TRUST REPORTS AND ACCOUNTS 31 December 2023 Registered eharity No. 271549

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Charity Name Wey Island Trust	Charity Name Wey Island Trust	Charity Name Wey Island Trust

31/12/2023	Charity no (if any)	271549

1-2 (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2023.

Responsibilities and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Please delete the words in the brackets if they do not apply.

Signed: Name: Relevant professional qualification(s) or body (if any): Address:		17/09/2024

	Neil Cox

	Fellow of the Institute and Faculty of Actuaries

	Grasmere, Buxton Road, Macclesfield, SK11 0PS

Oct 2018

IER

Section B Disclosure

Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

There are no material materials of concern identified which could impact the Charity Commission’s ability to carry out its regulatory functions.

Oct 2018

IER