KNEBWORTH VILLAGE TRUST Registered Charity No. 297228 ANNUAL REPORT AND ACCOUNTS 2022 REPORT OF THE TRUSTEES For the year ended 31 December 2022 The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2022. REFERENCE AND AOMINISTrATIVE 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 tnjstees 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 th 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 pemianent 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 organisation5 for the village. Other trustees may be appointed by a resolution of the Trustee5 recorded in the minutes. Trustee Indurtion 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 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 2022. face to face meetings were resumed followin8 a period of virtual meetings due to COVID-19. oBJE￿IVEs AND ACTIVMES The objectives of the Trust are to promote any charitable purpose for the general benefit of the inhabitants ofthe 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 approved grants to eight organisation5 and community groups during the year. These grants have sUPPOrted early years provision. community events and village facilities. benefiting some of theyoungest residents aswell asthose in more senioryears. Furtherdetail about the size and recipients of grants is available in the financial report. Grants totalling £9,873 were paid duringthe year. FINANCIAL REVIEW The net assets I"total reserves" or "fund value") of the Trust at 31 December 2022 were £659,030. There was a decrease in fund value from the previous year which was not unexpected given the continuing effects of the pandemic. the ramifications of the war in the Ukraine and domestic political issues. 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 entityfor the foreseeable future. To this end. over 94% 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 omparative measure, whilst recognising that for reasons often beyond the control of the trustees this may not always be possible. At 31 December 2022 the fund value was 66% of the original fund value measured in this way. ON BEHALF OF THE TRUSTEES Sarah Hammond Ward 29 March 2023 APPENDIX TRUSTEES Dr Ella Aidoo Permanent Trustee Ms Nicola Corrin Permanent Trustee Mrs Vivien Goddard Permanent Trustee (retired Feb. 2022} Mr Stephen Hamid Permanent Trustee Mrs Sarah Hammond Ward Permanent Trustee (Hon. Chair) Rev Charles King Clergy Ministers Representative {appointed Feb. 20221 Ms Natasha Laskey Knebworth School Representative Ms Lisa Nash District Council Representative Youth Groups Representative Permanent Trustee (retired July 2022) Parish Council Representative District Council Representative Permanent Trustee Parish Council Representative Permanent Trustee Mrs Penelope Parr Mrs Sharron Scott Mr Colin Stringer Ms Mandi Tandi Mrjason 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 R¢gister¢d ClwÉty No. 297228 STATEMENf OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022 Contents Page Income and Expenditure Account Balante Sheet Independent Examiner's Report KNEBWORTH VILLAGE TRUST Registered Chatity No. 297228 RECEIYfs AND PAYMEiYfs ACCOUNr for the year eDded 31 December 2022 Notes 2022 2021 EXTERNAL RECEIPTS Unit Trust Distribution- M&G Charifund M&G Charibond 19,142 5,714 24.855 17,066 6.493 23,559 Interest received Donation Receipts arising from lease 161 3,333 200 25.216 26,892 EXTERNAL PAYMENTS Secretarial services 3,275 103 3,2 Secretary's expenses- copying etc. Trustees Insurance Hire of premises for meeting 142 39 3,559 9.873 13,433 142 3,342 36,951 40,293 Grants paid Surplus / IDeficitl on External Re￿ipts and Payments Purchase of Investments Sale of Investments Surplus / IDeficitl of Receipts over Payments Cash assets at start of year Cash a55ets at end of year 11.783 113,4021 11,783 26,055 37,839 113,4021 39,457 26,055 STATEMENT OF ASSETS AND LIABILITIES a$ at 31 Dtt¢mber 2022 Notes 2022 2021 Fixed Assets Car Park lease valued at Invested Assets M&G Charifund Units at market value 338,905 281,287 620,191 358,895 314,685 673,580 M&G Charibond Units at marketvalue Cash assets Barclays Bank plc 37,839 37.839 26,055 26,055 Creditor5 NET ASSETS reprgsenting TRUST FUND 659,030 700,635 Approved by the Trustees on and signed on their behalf by Chair of Trustees KNEBWORTH VILLAGE TRUST Registered Charity No. 297228 Independent Examiner's Report to the Trnstees of Knebworth Village Trust I report to the trustees on my examinatlon of the accounts of Knebworth Village Trust (thc Trust) for the year ended 31 tkccmber 2022, which are sct out on pages l and 2. Responsibilities and b&8is of report As the charity tru5tccs of th¢ trust you arc Te5pon5ible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (*he Act). I report in respect of my examination of the T￿S¥S accounts carried out under Section 145 of the 2011 Act and in carry'ing out my examination I have followed all the applicable Directions given by the Charity Commission under seetion 145(5Xb) of the Act. Independent examiner's slatemenl I havc completed my examination. I confllm that no material matters have come to my attention in connection with the examination givtng me cause to believ¢ that in any material re5pccL" accounting records were not kept in respect of the Trust as required by section 130 of the Act"or 2. the accounts do not accord with those rewrds. I have no concerns and have come across no other matters in conn¢ction with the examination to which attention should be dra￿￿ in this report in order to enable a proper understanding of the a¢¢ounts to be reached. Martin Allen FCA Apple Tree ￿dge 3 The Green Old KLebTvorth Hertfordshire Date: 12 April 2023