## **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