KNEBWORTH VILLAGE TRUST Regi51crcd Charity No. 297228 ANNUAL REPORT AND ACCOUNTS 2023 REPORT OF THE TRUSTEES For the year ended 31 December 2023 The Trustees present their annual report and financial statements of the charity for the year ended 31 December 2023. REFERENCE AND ADMINISTRATIVE INFORMATION The charity registration number 15 297228. The charity is managed by the trustees together with an Honorary Treasurer and Honorary Secretary. Names of trustees and honorary offi￿r5 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 MANAGEMEKr Governing Document The charity is an unincorporated association controlled by its governing document, a deed of trust dated 9th July 1987 and subsequent amendment made on 215t February 2006. Appolntment 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 Chairper50n and WI￿ Chairper50n of the Knebworth Parish Council, 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 induction 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 ommi55ion on the role of trustees. Organisational Structure The trustees meet four times per calendaf 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. The trustees met in-person four times during 2023. OBJEcfivES AND A￿1vmE5 The objettives 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 approved grants to six organisations and community groups during the year, totalling £15.313. These grants have supported early years provision, community events and village facilities, benefiting some of the youngest residents as well as those in more Senior years. Further detail about the size and recipients of grants is available in the financial report. Grants totalling £13.477 were paid during the year. FINANCIAL REVIEW The net assets {"total resepies" or "fund value.) of the Trust at 31 December 2023 were £673.586. There was an increase in fund value of £14.556 from the previous year- the fund value remain5 below the value recorded at 31 December 2021 {£7(X).6351. 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 su￿rCient annual income to meet the charitable objertives so that the Trust may continue as a viable entity for the foreseeable future. To this end. roughly 94% of the asset5 are invested in two unit trusts especially designed for charities: the one comprising gilt edged and fixed interest securities, the other high quality equitie5 aimed at producing capital appreciation a5 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 term5 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 De￿mber 2023 the fund value was 63% of the original fund value measured in this wav. ON BEHALF OF THE TRUSTEES Stuart Biddle 14-ty11 2024 APPENDIX TRUSTEES Or Ella Aidoo Permanent Trustee Mr Stuart Biddle Permanent Trustee (appointed February 2023; Hon. Chairfrom April 20231 Permanent Trustee Ms Nicola Corrin Mr Stephen Hamid Mrs Sarah Hammond Ward Permanent Trustee (Hon. Chair until April 2023} Rev Charles King Clergy Ministers Representative Ms Natasha Laskey Knebworth School Representative Ms Lisa Nash District Council Representative Youth Groups Representative Parish Council Representative (retired July 2023) District Council Representative Permanent Trustee Permanent Trustee Mrs Penelope Parr Mr Colin Stringer Ms MandiTandi Mrjason Walker Mr Paul Ward Parish Council Representative {appointed July 20231 Parish Council Representative Permanent Trustee 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 6A1 Email: info@kvt.or8.uk INDEPENDENT REPORTING ACCOUNTANTS Mr Martin Allen Apple Tree Lodge, 3 The Green. Old Knebvrforth Bankers Barclays Bank plc Business Bankin& Leicester, LE87 2BB KNEBWORTH VILLAGE TRUST Regiswed Charity No. 297228 sTATEmE￿r OF ACCOUNTS FOR THE YEAR EYDED 31 DECEMBER 2023 Contents Page Income and Expenditure Account Balance Sheet Independent Examiner's Report KNEBWORTH VILLAGE TRUST Registered Charity N"0. 297228 RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31 December 2023 Notes 2023 2022 EXTERNAL RECEIPTS Unit Trust Distribution- M&G Charifund M&G Charibond 19.718 10.388 30,106 19.142 5,714 24.855 Interest received 211 Oonation Receipts arising from lease 137 161 200 30.454 25,216 EXTERNAL PAYMENTS Secretarial services Secretary's expenses- copying etc. Trustees Insurance Hire of premises for meeting 3.375 3.275 103 142 142 39 3.625 13A77 17,102 3.559 9,873 13,433 Grants paid Surplus on External Receipts and Payments Purchase of Investments Sale of Investments 13352 11.783 Surplus of Receipts over Payments Cash assets at start of year Cash assets at end of year 13,352 37.838 51.190 11,783 26,055 37,838 STATEMENT OF ASSETS AND LIABILITIES as at 31 December 2023 Notes 2023 2022 Fixed Assets Car Park lease valued at 1,000 Invested Assets M&G Charifund Units at market value 330.941 338,905 M&G Charibond Units at market value 290.454 281.287 621.395 620,191 Cash assets Barclays Bank plc 51.190 37,839 51,190 37,839 Creditors NET ASSETS representing TRUST FUND 673.586 659,030 Approved by the Trustees on and signed on their behalf by So Ap,, I Z924- Chair of Trustees S-bW(,k SdJlo KNEBWORTH VILLAGE TRUST Registered Charity" No. 297228 Independent ELqminer's RepKtyrt lo ihe Trus¢ees of Kllebworth Village Trust I reFX)ft to the trustees on my examination of the accounts of Knebworth Village Trusl {th¢ Tn]st) for the year ended 31 December 2023. which are set out on pages l and 2. Responsibilities and basi% of report As the charity trustees of the tn￿t you are reswnsible for the prepardtion of the accounts in accordance with the requirements of the Chariti¢s Act 2011 (Ihe Acf). I report in respeci of my examination of the Ttust's accounis catried out under Section 145 of the 2011 Act and in carrying out my examinalion I have followed all the applicable Directions given by the Charity Commission under se¢tion 145{i)(b) of th¢ A¢t. Independent txamintr's st*tement I have completed my exalnirtation. l ¢onfinn that no rnaterial matters have come to my attention in connection with the examination giving me cause to believe thai in any material respect: accounting records were not kept in resixrt of the TnLSt &s required by section 130 of the Act'or 2. the acwunts do not acrord with those records. I have no concerns and have come acrnss no other matters in connection with the examination to whi¢h attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Martill Allell FCA Apple Tree Lodge 3 The Creen Old KDebworth Hertfordshire Date: