KNEBWORTH VILLAGE TRUST R¢gist¢red Charity No. 297228 ANNUAL REPORT AND ACCOUNTS 2024 APPENDIX TRUSTEES Dr Ella Aidoo Permanent Trustee Ms Simmerjit Bains Mr Stuart Biddle Knebworth School Representative (appointed July 2024} Permanent Trustee & Honorary Chair Permanent Trustee Ms Nicola Corrin Mr Stephen Hamid Mrs Sarah Hammond Ward Permanent Trustee Permanent Trustee Mr Alexander Hurwitz Parish Council Representative (appointed Juty 2024) Clergy Ministers Representative Knebworth School Representative {retired July 20241 District Council Representative Youth Groups Representative District Council Representative (retired July 20241 Permanent Trustee Rev Charles King Ms Natasha Laskey fvls Lisa Nash Mrs Penelope Parr Ms Mandi Tandi Mrjason Walker Mr Paul Ward Parish Council Representative until July 2024 District Council Representative from July 2024 Parish Council Representative Permanent Trustee Mr Roger Willcocks Mr Brian Worthington HONORARY TREASURER Ms Allson Gray ACA 92 London Road, Knebworth SG3 6HB Email: treasurer@kvt.orE.uk Honorary Secretary Mrs Catherine Williams 3 Bell Close, Knebworth SG3 6AJ Emall: info@kvt.org.uk INDEPENDENT REPORTING ACCOUNTANTS Mr Martin Allen Apple Tree Lodge, 3 The Green, Old Knebworth Bankers Barclays Bank plc Business Bankin& Leicester, LE87 2BB REPORT OF THE TRUSTEES For the year ended 31 December 2024 The Trustees present their annual report and financlal statements of the charity for the year ended 31 December 2024. 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 a5 an appendix tothis reporL The Chair is elected from the trustees periodically. The charity does not have an office and can be contacted at the addre55 of the Honorary Secretary. sTrucruRE. GOVERNANCE AND MANAGEMEKr Governlng Document The charity is an unlncorporated association controlled by its governing document, a deed of th trust dated 9 July 1987 and subsequent amendment made on 21$1 Febnjary 2006. Appolntment 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 organisations for the village. Othertrustees may be appointed by a resolution of the Trustees recorded In the minutes. Trustee Inductlon and tralnlng Prospective tru5tee5 are asked to attend a trustee meeting where they can find out more about the role. New trustees are sent a role descrtptlon, a copy of the trust document, mlnutes of recent meetings, latest financial accounts and guidance from the charity commisslon on the role of trustees. Organlsatlonal 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 appllcant organisatlons are invited to attend the meetSng to present theSr appllcatlons. The trustees mÈt in-person four tlmes durlng 2024. OBJEcfivES AND AcfiviTIES The objertives of the Trust are to promote any charitable purpose for the general benefit of the inhabitants of the parish of Knebworth in the Countyof Hertfordshire, without distinction of religious or political opinion5. The trustees aim to achieve thls by encouraging byant applications from organisatlons attlve In the vlllage. ACHIEVEMENT AND IMPACT The Trust approved grants to elght organisations and communlty 8roup5 during the year, totalllng £15,183 plus additional short term underwriting of £5,5LKI towards the Knebworth Festival. These grants have 5UPPOrted early years provision, community event5 and village facilities, benefiting some of the youngest residents as well as those in more senior years. Further detall about the size and recipients of grants is available in the financial report. Grants totalling £13,695 were paid duringthe year. FINANCIAL REVIEW The net assets I"total reserves. or "fund value-l of the Trust at 31 December 2024 were £688,594. There was an increase in fund value of £15,008 from the previous year; the fund value remains below the value recorded at 31 December 2021 {£700,6351. These reserves are held in order to provide continuing income from which grants may be made to achieve the objective5 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 50 that theTrust may continue as a viable entityfor the foreseeable future. To this end. roughly 90% of the assets are invested in two unit trusts especially designed for charlties; 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 De￿mber 2024 the fund value was 63% of the original fund value measured in thi5 way. ON BEHALF OF THE TRUSTEES Stuart Biddle Honorary Chair 2025 KNEBWORTH VILLAGE TRUST li¢gi5terrd Charity No. 297228 STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER2024 Contents Page Income and Expenditure Account Balance Sheel Independent Examinerts Report KNEBWORTH VILLAGE TRUST Reg&stered Charity No. 297228 RECEIPTS AND PAYMENTS ACCOUNT for the year ended 31 De¢emb¢r 2024 Notes 2024 2023 EXTERNAL RECEIPTS Unit Trust Distribution- M&G Charifvnd M&G Charibond 20,756 12,726 33A82 19,718 10.388 30,106 Interest received Donation Receipts arising from lease 654 211 137 200 34,335 30,454 EXTERNAL PAYMENTS Secretarial services Administrative expenses Trustees insurance 3A75 320 3,375 25 142 142 Hire of premises for meetin8 91 83 4.028 13.695 17,723 3,625 13,477 17.102 Grants paid Svrplus on External Receipts and Payments Purchase of Investments 16,613 13.352 Sale of Investments Surplus of Receipts over Payments Cash assets at Start of year Cash assets at end of year 16,613 51,190 67.803 13,352 37,838 51.190 STATEMENT OF ASSETS AI¥D LIABILITIES 8t 31 December 2024 Notes 2024 2023 Fixed Assets Car Park lease valued at 1,000 I,oJo Invested Assets M&G Charifvnd Units at marketvalue 339,569 280.222 619.791 330,941 290.454 M&G Charibond Unitsat market value 621.395 Cash assets Barclays Bank plc 67,803 67,803 51.190 51,190 Liabilities Creditors NET ASSETS representlng TRUST FUND 688,594 673,586 Approved by the Trustee5 Qn and signed on their behalf by Chair of Trustees KNEBWORTH VILLAGE TRUST Regis(ered ChaTity No. 297228 Independent Examiller's Report lo the Trustees of KDebworth Village Trust I report to the trnstses on my examination of the accounts of Knebworth Villag¢ Trust {th¢ Trnst) for the year ended 31 D￿ernber 2024. which are set on pages l and 2. Re8pon$ibiiities and b45is of report A5 the charity trustees of the trust you ar¢ responsibl¢ for the preparalion of the accounts in accordance with the requirements of the Charities A¢t 2011 (the A¢V). I report in respect of my examination of the Trusts accounts Ca￿led Dut under Se¢tion 145 of the 2011 Act and in carrying out my exatniDation I have followed all ihe appli¢abl¢ Directions given by the Charity Comrnission undeT section 145(5)(b) of the Act. Independent eiaminer'8 ststement I have completed my examination. I confjrm that no material matters hav¢ com¢ to my attention in ¢oJmectio with the ex&mination giving me cause to believe that in any material respect: accounting records W¢Te Dot kept in resp¢rt of the Tnt5t as required by section 130 of the AcLor 2. the a¢¢ounts do not acconl with those records. I have no concerns alld have COllLe across Do oth¢r matters in wnD¢Ction with Ihe ¢xamination to which attention should be drdwn in this report in order to enable a proper understsnding of the accounts to be reached. Martin Allen FCA Apple Tree Lodge 3 The GreeD Old Knebwortb Hertfordshire Date: