2024-07-31-accounts

Trustees’ Annual Report for the period

Period start date 01/04/2023 Period end date 31/03/2024 Charity name: Berkhamsted Market Fund

Charity registration number: 278458

Objectives and Activities

Objectives and Activities	Objectives and Activities
Summary of the purposes of the charity as set out in its governing document	The Berkhamsted Market Fund’s objects are the upkeep and maintenance of the property of the Berkhamsted Town Hall Trust, another registered charity
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	The Berkhamsted Market Fund is the present owner of the rights to control trading on the Berkhamsted market place. The rights, which are prescriptive (that is unwritten), have been in existence since Saxon times. The market place consists of the footways on both sides of the High Street from St. Peter’s Church to Sayers Almshouses. The income from the market place, after meeting the market expenses, is paid in full to the Berkhamsted Town Hall Trust in accordance with the above objects. The main activity is overseeing the running of the Saturday and Wednesday Markets for the community of Berkhamsted and overseeing the running of the Farmers’ Market and other ad hoc markets e.g. International Markets.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	The Trustees have considered the Charity Commission’s guidance on public benefit and as a result have continued to actively encourage and attract new stallholders and markets for the benefit of the community.

Additional information (optional) You may choose to include further statements where relevant about:

Policy on grant making Policy on social investment including program related investment Contribution made by volunteers Other

Achievements and Performance

All surplus monies from Berkhamsted Market Fund are transferred to Berkhamsted Town Hall Trust to assist with the upkeep and maintenance of the property of Berkhamsted Summary of the main Town Hall Trust. achievements of the charity, identifying the difference the The Wednesday and Saturday markets, continue to attract charity’s work has made to visitors and members of the local community to Berkhamsted the circumstances of its High Street, which also benefits other High Street based beneficiaries and any wider shops and businesses. benefits to society as a whole.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set Performance of fundraising activities against objectives set

Investment performance against objectives Other

Financial Review

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Review of the charity’s In this financial year there was a surplus of receipts over
financial position at the end payments of £49,626 (2023: £53,294). The decrease of
of the period £3,668 can be attributed in the main to the cost of living crisis
and the resulting lower footfall.
The trustees were not paid by or received any other benefits
from the Market Fund (2023: £Nil) neither were they
reimbursed expenses during the year (2023: £Nil). No trustee
received payment for professional or other services supplied
to the Market Fund (2023: £Nil).
Statement explaining the There is no policy with respect to reserves as all surplus
policy for holding reserves monies are transferred to Berkhamsted Town Hall Trust.
stating why they are held
Amount of reserves held Not applicable
Reasons for holding zero Not applicable
reserves
Details of fund materially in Not applicable
deficit
Explanation of any Not applicable
uncertainties about the
charity continuing as a going
concern
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Additional information (optional)

You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)

Investment policy and objectives including any social investment policy adopted

A description of the principal risks facing the charity

Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Trust deed
How is the charity constituted? (e.g unincorporated association, CIO)	Scheme of Trust dated 8th May 1979 and amended by an order of the Charity Commission dated 22nd January 1997
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	2 appointments can be made by Berkhamsted Town Council and 4 appointments can be made by Berkhamsted Town Hall Trust. Berkhamsted Town Hall Trust have not yet appointed a replacement for David Vesey who resigned as a trustee on 30th November 2023.

Additional information (optional) You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees

The charity’s organisational structure and any wider network with which the charity works

Relationship with any related parties

Other

Reference and Administrative details

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Charity name Berkhamsted Market Fund
Other name the charity uses Berkhamsted Market
Registered charity number 278458
Charity’s principal address 196 High Street
Berkhamsted
Hertfordshire
HP4 3AP
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Names of the charity trustees who manage the charity

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Dates acted if not for whole Name of person (or body) entitled
Trustee name Office (if any)
year to appoint trustee (if any)
1 Colin Witt Chairman Berkhamsted Town Hall Trust
2 Cllr. Anne Foster Until 04/05/2023 Berkhamsted Town Council
Cllr. Rebecca From 04/05/2023 Berkhamsted Town Council
3
Mackenzie
Cllr. Robert From 04/05/2023 Berkhamsted Town Council
4
Stewart
5 David Vesey Resigned on 30/11/2023 Berkhamsted Town Hall Trust
6 Mark Lewis Berkhamsted Town Hall Trust
7 Paul Jenkins Berkhamsted Town Hall Trust
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9
10
11
12
13
14
15
16
17
18
19
20
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– Corporate trustees names of the directors at the date the report was approved

Director name None

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year None

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	None
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	Not applicable
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	Not applicable

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of	Name	Address
adviser
Chartered Accountant	HJP	Audley House, Northbridge Road, Berkhamsted HP4 1EH

Name of chief executive or names of senior staff members (Optional information)

None

Exemptions from disclosure

Reason for non-disclosure of key personnel details

There are no key personnel.

Other optional information

Declarations The trustees declar• that they have approved the trustees, report above. Slgned on behalf of the Charitys trustees Signature(s) Full name(s) Position (eg Secretary. Chair, etc) lan L￿1$ Hall Colin Wrti Secretary ChaiM￿n Date Oq loi 102+

BERKHAMSTED AIARKEf FUND RECEIPTS AND PAYAIENTS FOR THE TWELVE IIONfHS ENDED 31ST MARCH 2024 202>24 2022-23 RECEIPTS Rent 55.559 55.559 58,883 58,883 Bank Interest 55.559 58,883 PAYMENTS Electricty Independent Examiner Insurance Pafking License Rates Sundry Wages 977 621 279 1.500 193 220 1.991 5.933 2,212 SURPLUS OF RECEIPTS OVER PAYMENTS FOR THE YEAR 49.626 53.294 DISTRIBUTION OF SURPLUS 202212023 202312024 Cash loutfiow) for year STATEMENT OF ASSETS AND UABILITIES AS AT 31ST MARCH 2024 2024 2023 ASSETS Bank 1.809 683 FUND BALANCE Brought forward Surplus lor the year 683 789 50.309 54,083 Paid to Town Han Trust Trustee Truslee Date

NOTES TO THE ACCOUNTS

Year Ended 31st March 2024

1 ACCOUNTING POLICIES

The financial statements are prepared in accordance with applicable accounting standards.

2 DISTRIBUTION OF SURPLUS

The Market Fund's surplus of receipts and payments is paid over each year to the Trustees of the Berkhamsted Town Hall Trust in accordance with the Trust Deed.

3 CASH

	2024	2023
	£	£
Barclays Bank	1,808	676
Cash in hand	1	7
	1,809	683

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to th8 trusteesl membets of Berkhamsted Market Fund On a¢¢ounts for the year ended 31 March 2024 Charity no (rf any) 278458 Set out on pages I report to the trustees on my examination of the accounts ofthe above charity llhe Trusv) for the year ended 31103 12024. Responsibilltles and Ns the charity trustees of the Trus( you are resrx)nsibk for the preparabon basls of report of the accounts in acc￿lanCe with the requirements of the Charities Act 2011 {°the Acr}. I re[￿ in resped of my examination of the Trusys accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed the applicab￿ Directions given by the Charity Commission under section 145{5)Ib} of the Act I have compkted my examination. I confinn that no materHI matters have come to my attention (other than that disdosed below") in connection with the examination which gNes me cause lo believe that in. any material Independent examiner's statemont accounting r￿d$ We￿ not kept in accordance with section 130 of the Act or the actounts do not ac(yyd wtth the accounting records I have no concems and have come across no other matters in connectDn wtth the examination to which attention should be drawn in order to enable a proper understsnding of the acujunts to be reached. . Please dele wonls in the brackets rfthey do nol apply. Slgned: Name: Angela Peden FCA Relevant professional quallfication{s) or body (if any): FCA Addross: ALL ABOUT BUSINESS LIMITED. AUDLEY HOUSE NORTHBRIDGE ROAD BERKHAMSTEO, HERTS. HP4 1 EH IER October 2018

Section B Disclosure Only complete if the examiner needs to highlight matters of concem {see CC32, Indewndent examinatson of charity a¢xounts.' directions and guidance for examiners). Give here brief detalls of any iterns that the exarniner wishes to disclose. IER October 2018