Trustees’ Annual Report for the period
Period start date 01/04/2022 Period end date 31/03/2023 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
Review of the charity’s In this financial year there was a surplus of receipts over financial position at the end payments of £53,294 (2022: £47,834). of the period The trustees were not paid by or received any other benefits from the Market Fund (2022: £Nil) neither were they reimbursed expenses during the year (2022: £Nil). No trustee received payment for professional or other services supplied to the Market Fund (2022: £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
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 Council were only able to make 1 appointment for this year. |
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 From 16th May 2022 Berkhamsted Town Council
Jeannie Stirrup Until 24th November Berkhamsted Town Hall Trust
3
2022
4 Paul Jenkins Berkhamsted Town Hall Trust
5 David Vesey Berkhamsted Town Hall Trust
Mark Lewis Until 24th November Co-opted trustee
6
2022
Mark Lewis From 24th November Berkhamsted Town Hall Trust
7
2022
Cllr. Geraldine Until 16th May 2022 Berkhamsted Town Council
8
Corry
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 declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
| Signature(s) Full name(s) Position (eg Secretary, Chair, etc) Date |
|
|---|---|
| Ian Lewis Hall Colin Witt |
|
Secretary Chairman |
|
BERKHAMSTED MARKET FUND
RECEIPTS AND PAYMENTS FOR THE TWELVE MONTHS ENDED 31ST MARCH 2023
| 2022-23 | 2021-22 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| RECEIPTS | |||||
| Rent | 58,883 | 53,779 | |||
| Bank Interest | 58,883 0 |
53,779 0 |
|||
| 58,883 | 53,779 | ||||
| PAYMENTS | |||||
| Electricity | 977 | 910 | |||
| Independent Examiner | 621 | 603 | |||
| Insurance | 279 | 279 | |||
| Parking License | 1,500 | 1,500 | |||
| Rates | 0 | 338 | |||
| Sundry | 0 | 103 | |||
| Wages | 2,212 | 2,212 | |||
| 5,589 | 5,945 | ||||
| SURPLUS | OF RECEIPTS OVER | ||||
| PAYMENTS FOR THE YEAR | 53,294 | 47,834 | |||
| DISTRIBUTION OF SURPLUS | |||||
| 2021/2022 | 789 | 505 | |||
| 2022/2023 | 52,611 | 53,400 | 47,045 | 47,550 | |
| Cash (outflow) for year | 106 | -284 | |||
| STATEMENT OF ASSETS AND LIABILITIES AS AT 31ST MARCH 2023 | |||||
| 2023 | 2022 | ||||
| Note | |||||
| ASSETS | |||||
| Bank | 3 | 683 | 789 | ||
| 683 | 789 | ||||
| FUND BALANCE | |||||
| Brought forward | 789 | 505 | |||
| Surplus for | the year | 53,294 | 47,834 | ||
| 54,083 | 48,339 | ||||
| Paid to Town Hall Trust | |||||
| 53,400 | 683 | 47,550 | 789 |
Trustee ____ Trustee ______
Date _______
NOTES TO THE ACCOUNTS
Year Ended 31st March 2023
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
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Barclays Bank | 676 | 775 |
| Cash in hand | 7 | 14 |
| 683 | 789 |
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts SectioD A Independent Examiner's Report Report to fthe trustee&l members of Berkhamsted Market Fund On accounts forthe year ended 31 March 2023 Charity no {if any) 278458 Sot out on pages I report to the ttustees on my examinatson of the a(Unts of the above charity I'the Trusf) for the year ended 3110712023 Responsibilities and As the charity trustees of the Trust, you are responsible for the preparatton basis of report of the a(Loun"ts In acdance with the reqUiremts of the Charities Act 2011 fthe Acr) I reFQrt in respect of my examination of the Trusys accounts carried out under SeCtn 145 of the 2011 Act and in carying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145{5llbl of the Act I have compleled my exammation. I confi.that no material matters have come to my attention in Ix)nnection with the eXaMinatn which gives me cause to believe that in. any malerd respect" accounting records V&Ere not kept in aC£Ordan wth section 130 of the ALt or the accounls do not awd wth the acuunting records Independent examiner's ststement I have no COnmS and have come across no Dther matters in connectic wtth the examination to which attentn should be drawn in order to enable a proFer urnlerstsndir¥J of the accounts to be reached. Signed: Date: 2ts111 IciJ2 Name: Angeia Peden FCA Relevant professional qualificalionlsl or body (If any): FCA Address: ALL ABOUT BUSINESS LIMITED. AUDLEY HOUSE NORTHBRIDGE ROAD BERKHAMSTED, HERTS, HP4 1EH Section B Disclosure Only cotnplete if the examiner needs lo highlHJht matters of concern {see CC32, Independent eXaMinatn of charity a¢counls'. directions and guidan for examiners}.
Give here brief details ol any items that the examiner wishes to discloso.
Declarations The tTUStee8 declare that they have approved tho trustees, report above. Signed on behalf of the clwitys trustees Signaturefs) Full namo(s) Posilion {eg Secretary, hair. etc) lan Hall Cotin V Chaimian ICJ I io/2023
BERKHAMSTED lIARK FUND RECEIPTS AND PAYMEKfs FOR THE TWELVE 1A0PHs ENDED 31ST MARCH 2023 2022-23 2021-22 RECpTs Rent 58.883 58,883 53.779 53.779 k Interest 58.883 53,779 PAYMENTS Ekntri¢ity Indepthent Examir Insuran Parktng Lir 977 621 279 910 603 279 1,500 338 103 2.212 SuThJry Wages 2,212 SURPLUS OF RECEIPTS OVER PAYMEXTS FOR THE YEAR 53.294 47,834 DISTRIBUTION OF SURPLUS 202112022 202212023 Cash lL¥rtrbTr foryear 789 611 53 41J) STATEIIENT OF ASSETS AND LB1LrrIEs AS AT 31ST MARCH 2023 2023 2022 ASSErs Bank 683 789 789 FUND BALANCE Bfought forlrrj Surptus lor Ihe year 505 54,083 48.339 Paid to Town Hall Tnt 683 789 Tnthe True Date 10