REPORT OF THE TRUSTEES For the year ended 31 December 2021 The Trustees present their annual report and financial statements of the charity forthe year ended 31 December 2021. 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 MANAGEME 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 2(M)6. Appointment of Trustees The number of trustees shall not be less than five or morethan sixteen. Aswell as permanent trustees, the two members of the North Hertfordshire District 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. Three new permanent trustees were appointed in 2021 as listed in the Appendix. 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.
Organlsational Strurture 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 2021. meetings were conducted virtually or by email as in person meetings were not possible due to the COVID-19 restrictions. OBJEcfivES AND AcnvtnES 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 total of six organisations and community groups during the year and approved grants to four 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. These grants also helped some community groups and organisations restart following COVID-19 lockdowns or mitigate the impact of COVID-19, particularly in terms of education of children and young people. Grantstotalling £36.951.32 were paid duringthe year. FINANCIAL REVIEW The net assets ("total reserves- or °fund value-l of the Trust at 31 December 2021 were £700,635. There was an increase 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 thatthe Trust may continue as a viable entity for the foreseeable future. To this end, over 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 2021 the fund value was 80% of the original fund value measured in this way. ON BEHALF OF THE TrUSTEE5 Sarah Hammond Ward 29 April 2022
APPENDIX TRusfEES Dr Ella Aidoo Permanent Trustee Ms Nicola Corrin Permanent Trustee Mr Steven Deakin-Davies District Council Representative (until May 2021) Perrnanent Trustee Mrs Vivien Goddard Mr Stephen Hamid Mrs Sarah Hammond Ward Permanent Trustee (appointed April 20211 Permanent Trustee (Hon. Chair) Parssh Council Representative (until May 2021) Knebworth School Representative District Council Representative Youth Groups Representative Clergy Ministers Representative {until April 2021) Permanent Trustee Mrs Jenny Harrison Ms Natasha Laskey Ms Lisa Nash Mrs Penelope Parr Revd Jim Pye Mrs Sharron Scott Mr Colin Stringer Ms Mandi Tandi Parish Council Representative (from May 20211 District Council Representative (from May 2021) Pennanent Trustee (appointed April 2021). Parish Council Representative Permanent Trustee (appointed July 20211 Mr Jason Walker Mr Roger Willcocks Mr Brian Worthington HONORARY TREASURER Ms Alison Gray ACA 92 London Road. Knebworth SG3 6HB Email: treasurer@kvt.org.uk Honorary Secretary 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 YEAR ENDED 31 DECEMBER 2021 Contents Pa9e Income and Expenditure Account Balance Sheet Independent Examiner's Report
KNEBWORTH VILLAGE TRUST Re Charity No. 297228 RECEIPTS AND PAYMENfs AccouNr for Ihe year eDded 31 December 2021 Notes 2021 2020 EKfERNAL RECEIPTS Unit Trust Distribution - M&G Charifund M&G Charibond 17,066 6.493 23,559 15,452 7,791 23,243 Interest received Residual funds from Save Our Station Pub campaign Donation Receipts arising from lease 2,471 3.333 100 26.892 25,817 EXTERNAL PAYMENTS Secretarial services Secretary's expenses- copying etc. Trustees Insurance Hire of premises for meeting 3.200 3,175 16 142 142 3,342 36,951 40,293 3.333 28,028 31,361 Grants paid Deficit on Extemal Receipts and Payments Purchase of Investments Sale of Investments {Deficttl / Surplus of Receipts over Payments Cash assets at start of year Cash assets at end of year 113,402) 15.5441 {13,4021 39,457 26,056 15,5441 45,001 39,457
STATEMENT OF ASSETS AND LIABILITIES as at 31 December 2021 Notes 2021 2020 Fixed Assets Car Park lease valued at i.(KJO Invested Assets M&G Charifund Units at market value 358,895 316.546 M&G Charibond Unit5 at marketvalue 314,685 325,878 673,580 642,424 Cash assets Barclays Bank plc 26,055 26.055 39,457 39,457 Liabilities Creditors NET ASSETS representing TRUST FUND 700,635 682,881 Approved by the Trustees on and signed on their behalf by Chair of Trustees
KNEBWORTH VILLAGE TRUST Registered Charity No. 297228 Ind¢p¢ndent Examiner's Report to the Trustees of Knebworth Village Trust I report to the trust¢¢s on my examRnation of the a¢¢ounts of Kn¢bworth Village TTUSt (the Trust) for the year ¢nded 31 December 2021. which ar¢ set out on pages l and 2. Responsibililies and b*8is of report As the charity trustees of thc tst you are resFM)nsible for the preparation of th¢ aOunts in accordance with thc requirements of th¢ Charities Act 2011 ('the A¢t'). I rerK)rt in respect of my examtnation of the Trusvs 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(5Xb) of the ACL llldependellt examÉner's statement I have completed my examination. I confirni that no material matlers have come to my attention in connection with the examination giving rne cause to believe that in any material respecL ounttng ordS were not kept in r¢sp¢ct of the Trust as required by wtion 130 of the AcLor 2. th¢ accounts do not accord with those records. I have no concerns and have coffle across no other matters in conncction with the ¢xamination to which attention should be drdwn in this r¢w)rt in order to enable a proper und¢tandIng of the accounts to rwhed. I1. MartlD Allen FCA Apple Tree Lodge 3 The Green Old KnebTvorth Hertfordshire Date.. Zq-ip-2L