KNEBWORTH VILLAGE TRUST
Registered Charity No. 297228
ANNUAL REPORT AND ACCOUNTS 2020
REPORT OF THE TRUSTEES For the year ended 31 December 2020 The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2020. REFERENCE AND ADMINISTRATIVE INFORMATION The charity registration number is 297228. The charity is managed by the trustees together with an Honorary Treasurer and Honorary Secretary. Names of trustees and honorary officers who served during the year are included as an appendix to this report. The Chair is elected from the trustees periodically. The charity does not have an office and can be contacted at the address of the Honorary Secretary. STRucfuRE, GOVERNANCE AND MANAGEMENT Governing Document The charity is an unincorporated association controlled by its governing document, a deed of trust dated 9 July 1987 and subsequent amendment made on 21, February 2006. Appointment of Trustees The number of trustees shall not be less than five or more than sixteen. As well as permanent trustees, the two members of the North Hertfordshire Distrirt Council for the Parish of Knebworth, the Chairperson and Vice Chairperson of the Knebworth Parish Council, a representative of the Clergy Ministers for the Parish of Knebworth. the Head Teacher or Deputy Head Teacher of the Knebworth Village School, and a representative for the youth organisations for the village. Other trustees may be appointed by a resolution of the Trustees recorded in the minutes. Trustee inductlon and training Prospective trustees are asked to attend a trustee meeting where they can find out more about the role. New trustees are sent a role description, a copy of the trust document. minutes of recent meetings, latest financial accounts and guidance from the charity commission on the role of trustees. Organisational Structure The trustees meet four times per calendar year, to consider applications from organisations active in the village for financial support and to review the investment portfolio, policies and strategy. Representatives from applicant organisations are invited to attend the meeting to
present their applications. During most of 2020, meetings were conducted virtually or by email as in person meetings were not possible due to the COVID-19 restrictions. OBJECTIVES AND ACTIVITIES The objectives of the Trust are to promote any charitable purpose for the general benefit of the inhabitants of the parish of Knebworth in the County of Hertfordshire, without distinction of religious or political opinions. The trustees aim to achieve this by encouraging grant applications from organisations active in the village. ACHIEVEMENT AND IMPAcr The Trust received applications from a tot31 of six organisations and community groups during the year and approved grants to all of them. Grants have enabled the improvement of facilities and provision of activities benefiting Knebworth residents ranging in age from pre- school age to retired inhabitants. Grants totalling £28,028 were paid during the year. FINANCIAL REVIEW The net assets I'total reserves" or "fund value") of the Trust at 31 December 2020 were £682,881. There was a decrease in fund value from the previous year. These reserves are held in order to provide continuing income from which grants may be made to achieve the objectives of the Trust. The reserves policy of the Trust is to retain a fund capable of providing sufficient annual income to meet the charitable objectives so that the Trust may continue as a viable entity for the foreseeable future. To this end, almost 95% of the assets are invested in two unit trusts especially designed for charities- the one comprising gilt edged and fixed interest securities, the other high quality equities aimed at producing capital appreciation as well as reasonable income. Over the years the Trustees have endeavoured to safeguard the Trust's long-term viability by maintaining the fund value in real terms using the retail price index as a comparative measure, whilst recognising that for reasons often beyond the control of the trustees this may not always be possible. At 31 December 2020 the fund value was 78% of the original fund value measured in this way. ON BEHALF OF THE TRUSTEES Sarah Hammond Ward 20 April 2021
APPENDIX TRUSTEES Dr Ella Aidoo Permanent Trustee Ms Nicola Corrin Permanent Trustee Mr Steven Deakin-Davies District Council Representative Permanent Trustee Mrs Vivien Goddard Mrs Sarah Hammond Ward Mrs Jenny Harrison Ms Natasha Laskey Mr Ray Meredith Ms Lisa Nash Permanent Trustee {Hon. Chairl Parish Council Representative Knebworth School Representative Permanent Trustee (retired July 2020) District Council Representative Youth Groups Representative Clergy Ministers Representative Permanent Trustee Mrs Penelope Parr Revd Jim Pye Mrs Sharron Scott Mr Michael Tomlinson Mr Roger Willcocks Permanent Trustee (retired December 2020) Parish Council Representative HONORARY TREASURER Ms Alison Gray ACA 92 London Road, Knebworth SG3 6HB Email: treasurer@kvt.org.uk k.. e.nLI ra'-, Mrs Catherine Williams 3 Bell Close, Knebworth SG3 6AJ Email: info@kvt.org.uk INDEPENDENT REPORTING ACCOUNTANTS Mr Martin Allen Apple Tree Lodge, 3 The Green, Old Knebworth Bankers Barclays Bank plc Business Banking, Leicester. LE87 2BB
KNEBWORTH VILLAGE TRUST Registered Charity No. 297228 STATEMENT OF ACCOUNTS FOR THE YEAK ENDED 31 DECEMBER 2020 Contents Page Income and Expenditure Account Balance Sheet Independent Examiner's Report
KNEBWORTH VILLAGE TRUST Registered Charity No. 297228 RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31 December 2020 Notes 2020 2019 EXTERNAL RECEIPTS Unit Trust Distribution M&G Charifund M&G Charibond 15,452 7,791 Z3,243 19,141 7,272 26,413 Interest received Residual funds from Save Our Station Pub campaign Receipts arising from lease 2,471 100 25,817 200 26.613 EXTERNAL PAYMENTS Secretarial services Secretary's expenses - copyin8 etc. Trustees Insurance Hire of premises for meeting 3,175 16 3,075 102 142 142 3,333 28.028 31.361 3,319 13,785 17,103 Grants paid IDeficitl / Surplus on External Receipts and Payments Purchase of Investments Sale of Investments (Deficitl / Surplus of Receipts over Payments Cash assets at start of year Cash assets at end of year {5,544 9.510 {5.5441 45,001 39.457 9,510 35,491 45,001
STATEMENT OF ASSETS AND LIABILITIES as at 31 Deeember 2020 Notes 2020 2019 Fixed Assets Car Park lease valued at 1,000 1,000 Invested Assets M&G Charifund Units at market value 316,546 325,878 642,424 382,993 322,164 M&G Charibond Units at market value 705,157 Cash assets Barclays Bank plc 39,457 45,001 39.457 45,001 Creditors NET ASSETS representing TRUST FUND 682.881 751,158 Approved by the Trustees on and signed on their behalf by Chair of Trustees
KNEBWORTH VILLAGE TRUST Registtted CIMrity No. 297228 Independent Examiner's Report to the Trustefs of Kn¢bworth Village Trust I report to the trustees on my examination of the accounts of Knebworth Village Trust (the Trust) for the year ended 31 December 2020, which are set out on pages l and 2. RespoDsibilities and basis of retM)rt As the charity trustees of the trust you are responsible for the preparation ol'the accounts in accordance with the requsrements of the Charities Aci 2011 (*he Act,). I report respect of my examination of the Trusts aeeounts Carried out under Section 145 of the 2011 Act and in carying out my examination I have followed ail the applicable Directions griven by the Charity Commission under section 145(5)(b) of the ACL Indcpclldent examiner's statement I have completed my examination. l confirm that no material matters have come to my attention in conne¢tion with the examination giving me cause to believe that in any material respect.. l. accounting records were not kept in respect of the Trust as required by section 130 of the Act-or 2. the aecounts do not accord with those records. 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 ¢nable a proper understanding of the accounts to be reached. MaTtiD All¢n FCA Apple Tree Lodge 3 The Green Old Knebivorth Hertfordshire Date: 26ih April 2021