THE FITZWILLIAM WEIYTWORTH ENITy TRUST FINANCIAL STATEMEL¥TS FOR THE YEAR ENDED 31 MARCH Z021 Clkarity nuJDb¢r 508777
THE FITZWILLLknM WENTWORTH AMEfilTY TRUST FINknYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 The Fitzwilliam Wentworth Amenity Trust is a registered charity under the Cb8rtties Act 2011. The Trustecs preseni thetr annual report and fin8ncial statements of the ctwiry for the year en(led 31 March 2021. The financial statements have been prepared in accoJthi¢e with the accounting policies sei out in nore I to the accounts and comply with the charity's trust deed. the Charities Act ?01 l and Accounting and Reporting by Charities.. Siatement of Recommended Praciice applicable to charities preparing their accounts. in accorda[¢ with the Fillancial Rewrting Standard applicable in the UK and Rq>ublic of Ire]and published in (ktor 2019. REFERENCE ADI¥IINISTRATIVE DETAILS ChAriry number.. 508777 Prinelpal office A.H. Barber.Lomax Esq. FRtC5 FAAV Esthie Offlee Wentworth Rotherham S62 7TD Trustees The Tnuieey servirtg throughout the ye4r and since the yeor eThJ were as follows.'- Sir Philip Naylor-Leyland B¢. Lady Isabella Naylor-Leyland Mr Jeremy Ahda[e Richard Lumley, Earl of Scarbrough- The Honourdbl¢ Ralph Foljambe M8nagement Commltiee Sir Philip Naylor-Leyland Bt Mr Robert Dalglielh FRICS FAAV (Chief Agent to the Fitzwilliam Estatu) (Resigned JI Ma 20211 Mr Anthony Barber-Lorn FRiCS FAAV (Siewardl Mr James Behrens (Chief Ex¢cutive to the FiThilliam Esthies) (Appointed l April 2021) Audltorg Haysmacintyr¢ LLP Chartered Ac¢ountanis 10 Queen Stre¢l Place London EC4R IAG Principal bankers Barclays Bank plc 2 Si Jame8 Court Thiiefriws Norwich NR3 IBJ Investment mJna8ers Statthope Capital LLP 35 Porttnan Square London WIH 6LR Solicitors Currey & Co. 33 Queen Ae Street London WIG9HY 35 Churcll Streei Barnsley S70 2AP
THE FrrzwiLLIAM WENTWORTH AMENITY TRUST TRUSTEES. REPORT YLiR ENDED 31 MARCH 2021 STRucfuRE. GOVERNANCE AND MANAGEMENT Governing document The charithble trust w&$ established by a Declarntioo of Tn1 made by the tenth Earl Fimvilliam daied 18 May 1979. By a deed of gifi dated 23 May 1979 he grdnled io the Fittwilliam WeDtworth Amenity Tws( certain land together with buildingg ere¢d thereon sityaj in the lo7]pS of Weniworth. Brdmpton Bierlow. Gr$brOugh. Hoyland Nether and Kimberworth. all in the Couniy of South Yorkshire and more particularly delineated in plans attached to the aforesaid deed of gift. N4tur¢ of conytitution The trust operates as an unirtwrporaied charitable or8anisation. Recrultment and Appointment of Truste The rtumber of Tnlstees shall not Aorn)4lly be less than normore than Sevm One of the Tnjstees must be som¢one other than 4 member of the settlor's family. One Tntse should be resident tn or withtn n miles of the parish. In appoiniing the Tnjstees, consideration tS8Lven lo the desirabiliry and yx)&8ibility of drdwing one or more of the Trustees trom the prof10$ of agri¢ulNralisi, arclweolo8isL land a8enL surveyor. arctll't¢¢L solicitor or accountsnt. Induetlon #nd ¢r4lTring of Trusie¢s Before appointmeni, Trustees are provided with a Comprehs1ve introduction the charity'5 assets. its governance and mana8emenl. They are also provid¢d with a copy of the Charity Commission guidance note CC3 - 'The Essential Trustee, what you need 10 know. and CC3a- Charity Trustee, what's involved. The Trustees are k¢pl infom]ed of key hange.% in ¢harity law by the St¢ward and profe&%ionhl 4dk'isers. Organlsatlonal strutlure In accordanee with the Govemin¥ tked, the TTUStees have fomled a Monag¢menl Commiiiee {detailed on page I I i(} administer the charity. Minuies of Management Committee meetings ¢iulted io all Tnjsiees and the committee rekKSrts fornvdlly to the Trusttts at an annual meaing. The routine or daily administrdtion of the charity is wried oui by the S*ward b&sed at the Esthte 01cc, Wentworth, Roiherham, where the btK)kk¢¢ping is also tsndertaken. Financial inv¢stsnents are mana8ed by professional investhwit advisors Stanhope Capital who report quarterly to the Steward. The fTUStees consider that they are the only key mJnagemeni person1 of the charity. The Trustees give of their ttme freely and no remuneration or expenses werE pwd during the year. Related partiej The charity is a member of the Fittwillram {Wentworthl Estates Syndicate which thare5 the cost of management of the adjoining Wentworth Estates in South yorkshi on an equitable b95is lthveen its four members. The other property owners participating in the syndicate are.. Miltort (Pcterboroughl Estate5 coPanY Sir Philip Naylor-Leyland Bi. Olive. Countess Fittwdliam'5 Will Trt The total estate tnallagemeni costs knrne by the Syndicate (net of a deduction relarll property Sales, calculated at 0.75 /0 of gross Sale values) are apwrtioned in the ratio of gross income receivable by the respective owner5. The Same Tnlee8 also adtninÈster the Weniworth Barrow AlmslKrtws. a sepatate cljarity owning eight units providing residential accommodation specifically for the elderly. Sir Pkn"lip and Lady Isabella Naylor-Ley]and are Tntste&% of the Eati Fithvilliam Chan"table TrusL Fitzwilliam Wentworth Arnenity Tn1 pays a rent to Earl Fittwilliam Clwitable TnLsL
THE FITz1L[m WENTWORTH AMENITY TRUST TRUSTEES. REPORT YEAR KYDED 31 MARCH 2021 Prillcipxl Rlsks and Uncertaintiej The Trustees have conskdered the wincipal risks and uncertainti&% which the charity fatts and are satisfied that systems are established to addrtss those risL8. The funding of the charity is stsble and gradually improving. The main &ource of income is from the lettEng of resideniial PrOry. Tnle£S nthintain dwellings to a high Slard, protecting herithge value w]ll'lst ensuring they Etmain aitracuve w a buoyant rental lltsrkeL Some diversity of income is ochieved with the letiing of agriculturdl and commercial propeny. Coniinual lnvcstertl in the maintenance of herithge and lart¢lscape protects the reputation and popularity of the chariry's assets. The outgoings of the charity are managed to proteci its rmancial integrity a[ leve15 of exraiwre can be adjw8ied reserves (investments) can be called upon if circumstances quire it. Insurdnce coN'er is careIlY considered and p]wl ensure the Clwity is noi ac unduc risk in the event of unfore5¢¢n circumstsnces arising. Financial inveslment values increased over the year under report and wsi year-end there have been substsntiAI fluctuations. These flucwaiions se¢m unlikely to impair the abilityof the ¢harity continue its primary role of making grants for charttsble purpose4 principally lo other charitable entiiie& Th¢ Trui>iees do not consider there to any significant impact on the goin8 eortcern of the Charity as a result of COVID-19. OWECTIVES AND ACTIVITIES FOR THE PUBLIC BLYEFIT Objects of the ¢hArlty The charity w&q eqtablished with the express iniention of promoiing the pemianeni conservation of lands and buildings of beauty or hisiori¢ Int¢. partieularly l)uildin88 of archiiecNral or other imponance, and 19 improve the rural and visual CharaCT and the amenities of the Parish of Wennvonh near Rotherham. South Yorkshire and areds adIent th¢rtto. The Tru81¢¢$ may apply the income of the charity for a brod rartge of chatitable purp)ses including but not restricted al conserving the land and buildings of the and the amenitie5 of the IcKality, bl education, l art5 and histOriCAI tar¢ d) scierttifJ¢ research, el study and ConseallOn of wildlife, O providing housin8 and ¢8re olpoor, aged or Inf pery)n 8) social welfare and leisure. The Trtlee8 have a desire ¢0 do the best for their beneficiarie The charity'$ Ttusiees have considered the guidance ¢)n public t*nefii published by the Charity Commission and of the view ihat their EMTrlicies and activities are consien1 with the requirements of 8tion 17 of the Chariiies Act 2011. Aims of ihe charlty The charity aim8 to.. a) conserveand improve the heritage&t$aJ the anKnitieswithin the estate village of Wentworth and the wider locality. b) make grants organisauons and projects within & Ility which the educatio wial welfare and letsure of inhabitsnts of Wentworth and swrouTlnB settlements.
THE FITZMTLLIAM WEYTWORTH AMENITY TRUST TRUSTEKS. REPORT YEAR ENDED 31 MARCH 2021 The charities objects and aims are for the nefIt of the public genernllyand morc swifically the inhabitsntsof the Parish of Wentworth and the areas adjaceni there. Accordingly, the tn1.5 activities Ilude the following rEc08n] public Iefits.. providing public access historic buildin8S providing housing providing facilities for SFM)rt and recreation providing Sup for education conseThing the environment presejving historic buildings and bl d) The Trnsttts believe that thetrobjecL4 and tlwe ¥tivities satisfy the public ben¢fir requirem¢ntwising from th¢ Charities Act 2011. StrAtegles for ¥4chievlng objeetlves The charity's strategies for tchieving these aims include: al generaiing sutTicieni funds from the leiiing of its 18sets to cover rtomial ruTmirt8 and maintenance costs bl catrying.%ufficieni SelveS Cater for exceptional expenditurt on heritage &ss¢ts cl canrying oui propery improvemenL8 and eonsidering slrdt¢gi¢ acquisitions as opportunitEes aris¢ dl 8ensiiive mainienance of properry 10 high stsndards. using trdditional meth(th and materials where possible e) regular consideraiion of exkrnal applieatiorts for funding wwards ¢lJaritable proje¢¢s In view of the lon8.temi naDJre of the Ift1 and its charitsble ¢)bjects the TTWttts apply these prin¢iple strntegies on 8 colliinuin8 basis. Slgnlfl¢ant g¢tlvldeJ Herithge Property The letting, repair and improvement of the ctwity's restdential. commercial, agricultural and other propetry auets centred on Wentworth Village. The operation of Gre&sbrou8h Daffls (omamental Ikkes) &$ a ¢oarse fishery made available to the public via season ticket sales. The seasonal opening of the Rockingham Monument and Hoober Stand to the public and maintenance of these and other monuments includÈng The Needle's Eye and Doric Temple. The Malntenwe of Wentworth Park iwluding r&4ident heryl of rryl deer. Wentworth Fishery The Monuments The Deer Park Gr%nt maklng poilcy Tnjsiees shall as and when they think fil pay or apply income of the chariry for charitsble purw)ses for the benefii of the public generally and especially the inhabiwits of the Parish of Wentwonh and areas adjacenl ihereto. Provision of grant will be ¢ondiiional upon the funds bein8 used for the Stated purpose and within reasonable time limits (usually within six months of award). Grants tn respoi]se to specific written appli10n$ tend io be in the range of £100 to £5.0(X) towards charithble projects. which are in accordance with the obi¢cts of the Charity. either in the village of Wennvorth or irs surrounding locality or which benefit those COTtllnunities. Charity related investment poliey The Trustees expect to retain owner5Mp of the heritage &ssets in the long tenn and consider acquisition of additional heritage assets in the Nicinity ofwentworth ViUage&s and whenpropeniw are offered for sale. It is also seena8 irnportant to have a coniinual program of improTring prOLeS geuernilyEthveen tenancies. to nltaIn a lettable stock of property in the long ternj and achkeve the chan"table object of kjng terni conservation of the village lor the benefit of itthabitants and visitors alike.
THE FITZWILLIAM WENTWORTH AMEYITY TRUST TRUSTEES, REPORT YEAR ENDED 31 MARCH 2021 ACHIEVEMENTS PERFORMknYCE ChArltable activitle8 undertaken The coniinuing maintenance of the village, its constibjeni properti and its lan(iscape comprtses the principal aciivity of the Trust. The letting of herithge property provides the principal )Urte of income and the TnLStees are MIndJ of their general dury to sccure levels of retyrn consisteni with the open markct. As a resulr rental incorne is mainwined at levels adequate to coverthe costs of nomial runnitig and maintenance &$ well &s the improv¢meni of various properties beiween tetunci¢s. Careful selection and w of tnateriais ensurcs thai all works continue to preserve and enhanc¢ the visuol quality and historical authenticity of heritage a&sets. WenNorth Village. the paTkiand18TrJwxand monuments rernJirtattraciive visitordestinolions however. Hwber Stand and the Rockingham Monument were unable io be (yened owing to the COVID pandemic. The Deer Park Is a popular (kstination for wa]kers along with tnuch of the l¢xal public rights of way nenvo Despite COVID reswictiorts. WenNonh Fishery's season tsck¢ts sold well ag4irt. Charitable donations have been made towath a bro1 of extetDal projLxts &s detailed in note 9. InveJtmeDt performan¢e A totsl rern of 23.960/012020: .6.84 /•) was obtained from fuwicial and property invesunents b&sed on the asset value at the start of the year of £2.49m (2020.. £2.68ml. There was a $mttll change in the value of invesunent property. The Tru$ttts consider the InveSent p¢rforn)ance was SItisfacry in the current ciroums¢anc¢s. FINNcIAL REVIEW Results The re8ulL4 for the year we set oui in the att¥hed fthancial Statemen The net movemen¢ in funds atier accountirt8 for both realibed and unrealised gain5 on invesunenis amounted 10 £2.102,48212020.. q422,558)l. The retained ndS Jt 31 March 2021 amount 10 £42,437 J93 (2020: £39,812,574). Reservej pollcy The charity's total reserves of £42,437,J93 at year end included £39.212330 in a Hfflge Asset Fund. £3,133,491 in an tnvesiment Fund and £91,572 in a General Fund. £74,868 of th¢ Generni Fund represenied the net bLY)k value of wigible fixed ae¢s, leaving free reseryes of £16.704. In view of the nabJre of the charity's ets. arising from the origlld endowineni the Trustees consider it prudent lo retain a resetve in the unrestr1cd ger&I fund of up ¢0 twice tothl annual exwLdi¢ure to mee¢ fluctuating liabilities. It is nod that the general fund reserves are prtsendy below level. Please se¢ accounting FX)licy (IA) for further details of re8erve5. Revlew of Activiti Expenditure tms exceeded income re5ultin8 in a deficii of £6121212020.. £49,194 surplus). During the year thc main source of income remained rent receivable which for 2021 w&5 £1.681,78712020.. £1,692,390). There have been fittther marginal improvements in residential and conmiercial rental income. Income from inYesttD¢nt5 of quoted UK and over SecuTities and ¢uh dqxjsit balance5. for 2021 was £J,13612020: £3.462}. COVID related rental concession5 were mak to f(MMI & Verage Opera and retailers with a Combined value of £14,108 in the a¢oountitig riC. Following Ctwity CorntDi&sion approval. a swap of property ass w&s compleied with the Mhlton {Peterboroughl Esthi¢s Company as a result of which the chan.ty divemed itsel(of Home Farln Steading, the Power House and Gun Park buildings alld twk owmership of Kenne]s Cottages (No's 1-3). Masons Yard and Bk Lalle.
THE FITZWILLLITrL I WENTWORTH AffrrY TRUST TRLSTEES, REPORT YEAR ENDED 31 MARCH 2021 Expenditure on the repair and improvemeut of herithge property increased £1.071.399 (2020.. £998.4911. Signifi¢ani rerb1mellts were carried out to No'5 1828 & 97 Main Strttt and Wesi Hall at a c0tnblt cost of cta £450,000. Other significant works have included de-silting. landscaping and infrU¢re tEpaS to C&scades p)nd, Coke Bridge and Meandering Waier. The charity b&s continued provide Jn ¢du10n in countyside maintenance to one college Sent. Heritage Propthy- The Charity ha5 wnltnued with its PIO8ram of propeny repai and improvements. W0S are carried oui to high statthrits in accordance with the principles of conserving historic building& The Chatiry coniinues to manage lei properties on normal comrnwciaj Wentworth Fish¢ry" Operatson of the C{[5¢ fishery and maintenance of the &ssociated dams continued with season ticket sales comparable the previous s¢a501L Owing to Covid resrri¢iions. R(kInghn Mausoleum and Hoober Stand were not opened 10 the public. The Deer Park eoniinues 10 be appreciated by members of th¢ publie who nuke eX1Ve ofthe public rights of way network. The Charity continu¢5 10 MaIn1rt areas of wo(xlland and open spaces a high standard. New w(MKlland planting is undenvay ai Shire Oaks. Visitor trdffic to Weniworth VÈllag¢ and Wenrwonh Deer Park conttnue5 tts grow. Following preparaiion of a joint Acce&s & Parking Strategy with the W¢ntworth Wotxlhouse Preservaiion Trusl. work is now undenvay on a joint Masterpian a precur50r fuNre planning applicauons forimproved parking and visilorprovibions at Town End and Gratthy Clarks. The Charity considered applications for grants and made a number of specifie )naiioL% to a broad range of local prOjts as recorded in note 9 the 8CCOUnts. Th¢ Monumenls- Woodland. De51inalion Management- Donatio1- FtNANCIAL REVIEW lrtve$lment pollcy Invebimeni policy is directed iowards achievin8 the m&ximum overall reluTn on the ctmrity's investment as%ts ommensuraie with an appropriate level of ri%k for a ¢haritsble trust inve510r. No special sla1 or ethical con51rdints are placed on the investment manager's choice of investtnents. PLAINS FOR FUTURE PEIUODS Whi18t the full impac15 of the COVlth19 pthi¢ are 111 uncle4r. th¢ TnteeS prowse to continue their efforL8 to onserve the land ar buildEngs of the trmst and the omeniiies of the locality for the benefit of inhabitants and the genernl public and to make further gran(s which are consisleni with the charity's staled objects. Costs of repair and improvement of heriiage propety is exkxcied to rrmain the mosi significant fEnon¢ial commitment. Trusttts will ¢oniinue to support the aims and objectives of the Wentworth Woodhouse Preservation TnLq and will work with key local stakeholders 10 manage the evolution of the Wentworth & E]secar locality &s a d&%iinaiion location. Alongside visitor centre facilities (parking and cafe etcl ai Town End, Gre&sbrough. delivery of large-Kale car park¥ wrll be taken through the design and plaiIng processai Grat]ny Clarks, Weniworth. Secondarydraw-down facilitie5 are b¢ing Considered forDog Kemiel Pond.
THE FITZWILLLIM WENTWORTH AMENITY TRUST TRtiSTEES' REPORT YEAR ENDED 31 MARCH 2021 TRUSTEES. RESPONSIBILITIES STATEMEL¥T The Trustees are responsible for preparing the Trustecs. Annual Repon and the financial Stsments in accordance with applicable law and Ulliied Kingdom Ac¢ountittg Standarth {Uni*d Kingdom Generally Accepted A¢counting PrtIce). The law applicable to Charities in England & Wales requires the TtU8 to prepare fmancial ststements for each financial year which give a true and fair view of the siaie of atTairs of the chariry and of the ineoming resources and application of resources of the chority for thar period. In prepwing these flljancial ststements, the Trustees are required seleci suiiable accouniing wli¢ies and then apply them consistently- ob&erve the meihods. and principles in the Chariii¢s SORP: make judgements and estimaies thai are reasonable and pnthi siaie wheiher applicable accounting standards have been followed, subject to any material departurn disclosed and explained in the financial st4l¢ments: prepare Ihe financial Staments on the going ¢on¢¢rn b&8is unless it is inappr¢)pria¢ to presume that th¢ chariry will ¢OAlinue in operntion. The Trustees a re5poftsible for keepin8 proper accouniing rrford5 thai disclose with reasonable accuracy ai any time the financial position of the charity and enable them 10 ensure thai the fmancial statements comply with the Charities Act 2011, th¢ Charity (Aecourtts and Reponsl Regulaiions 2008 and the provisions of the tn1 deed. They ar¢ also re%ponsible for safeguarding the assets of the cljarity and hen¢¢ for takin8 reasonable steps for the prevention and deieciion of fraud and other iTr¢gularities. BY ORDER OF THE TRUSTEES 14 (ktober 2021
INDEPELYDEYf ALI)rroR'S REPORT TO THE TRUSTEES OF THE FffZWILLIAM WE.NTWORTH AMENITY TRUST YEAR EYI DED 31 MARCH 2021 Oplnlott We hJve 2u(tiied the finHncial $teMents of Fitzwilliam Wenlwurth Am¢Dity T for the year ¢nd¢d 31 March 2021 which LomprisL'ihe Siatetnent of Financial AciiviiiLTh the Balathcesheet. the StatanrOfCa5h Flowsand noi¢% ro ihe fjnancial stai¢tn¢nis, inLludirtg a sutntnary of sign2ticani accounting )lle1. The financial rew)rting fr3tn¢work thai has b¢¢n applied in rheir pparall0 is applilable law and Uniicd Kingdotn Accounting Standards. including Financial Rq)orting Swidard 102 The Financial R¢pDning Standard applicabl¢ in th¢ UK and Republic ollyelartd Iuniied KingdorTh G¢ncr4lly Accqjied Accouniing Praciicel. In our opinithi, th¢ fiJ)ancial slat¢ments'. give a tTh¢ and fair view of the tste of th¢ charity'5 4s 9131 March 2021 and of the tharity's net movement in furtds for th¢ yw Ih¢n ¢lld: have been properly prLyarcd in aLrorthnc¢ with Untred Kingth)m Getlernlly ALeptd Ac¢ourtlin8 PActite', and hav¢ b¢¢n prqAred in accordanee with th¢ rryuIts of th¢ Chariiie5 Ath 2011. Bsls for oplnlon WL hdve bcen appoifttryi #s auditor Und section 144 of ihe CTharities Aet 2011 ond r¢Fth in acri)rd&nce with the Act and r¢l¢vgnl r¢8ulalions tnadi or having tffeci Ihertutmler. WecoE)duciLxI ouraudit in arwrdance wilh Inrernational Standards on Auditing IUKI IISAS IUKII dpplicabl¢ law. Our responsibilities uthd¢r Ihos¢ standards are fvnh¢r described in the Auditor's rpon1b1ll1l¢s tor th¢ audii of the linanciul sthicments section of our rgXt. We iDdwd¢ni of Ihe charity in accordance wilh rhe h1¢&I r4yuirctnlls IhTrl are r¢l¢vuni 10 our aj11 of the fin8ttcial Sthl¢Yn¢nts in Ih¢ UK. including the FRC'S Eihical Siandard. and we hav¢ t'uifillid OUT oihw ahical re5wnsibilsiits ith accordanc¢ wilh (b T¢quircmenis. We belleve thai the audit evidence we have obiaind is sutlicicnt and apProprie 10 pmvid¢ a b&sis for our opini(¥). Conclu51ons relAtlni to iolnl Concern In audiitng the tinancial stai¢Jnenis. we hav¢ ¢oncluibJ thBt the tru5tees' use of Ihe80in$ concern b&8is of accountin8 tn th¢ prqkarniion of the financsal 518iements is appropri41e. Bllsed on the work we have perf(thi¢d, h8vc idcmiified any material uncertainties r¢lattn8 10 ¢vMts or Conditions thai, indivi¢JuJlly ur collectively, may eL81 $i8nifI1 doub¢ on th¢ charity's ability 10 cth)iinue &$ i 8oin8 ¢oncern fora ot at ILUSI IWLIVL months from when Ihe firLan¢i41 siai¢menis arc auihoristyA for issue. Our rc8w)nsibilities and th¢ Y¢sw)$ibiliiics of the mises with respttt to 80in8 ¢on¢¢m in ¢h¢ relevant slI0n5 of this rewrt. Othèr Informailon The Ifu$i¢rs llre r¢swnsibl¢ for the othcr infornloiion. The other irtfomiation cornpri the infonnaiion includcd in IhL TrublcLs' Annual Report. Our opinion on th¢ financial siatLynthts (k)es cov¢r th¢ (th¢r infonnarion and. ¢xc¢pi 10 ihc exni oiherwis¢ explicitly 5tllled in our rqK)rL do not express any forni of &8wran¢¢ ron¢lu5ion lh¢. In ¢onll¢rlion wilh OUT audii of the financial statemts)t& OurKlbiliry is to rrad Ihethwinforniation and. in doin8 so. consider wh¢ih¢r lh¢ oih¢r inlonnaiion is materially in¢onsisi¢nl wilh th¢ financi81 statements or our knowld8e obtainLal in the audit or oihcrwi5¢ app¢aTS 10 b¢ ma1111Y misstatLxl. If we ikntify su¢h mai¢rial incon$isiencies or appal¢ material missiatemenis. we arc rnquircd to demIlne whL%herthere is # material missiaiemeni in the finaneial statements OT a material mi5S1atetnent of the (Ither infomiaiion. Ir, based on the WO we hRv¢ pcrforned. we coThcl¥de that there is a MaiL misstalemtht of this oth¢r irtfoTtnal20n, we are required rwrt that fact. We hav¢ noihing 10 rqx)N in this Tegard. MatieN ott whleb wt ore rwulred to report by eAceptknD We have nothin8 to rcport in rtspwi of ihe following matttts rtiation to wbith th¢ Chariri¢5 (A¢Unts and Rwrt51 Regulations 2008 tequire us lo rqM)rt io you if. in our opinion.. adequate accounting records haye not beM kqm by th¢chlty. or sufficient acrouniing r¢coTds have not Fen kept.. or the charity finan¢ial Sth[an15 are noi in agrEanent with th¢ awwnting rOrdS and rewrns,. or we have not tfttiVLxI #ll the infOall0 and explaThaiiMs we rqui for our audit.
INDEPENDENT AUDrroR'S REPORT TO THE TRUSTELS OF THE FrrzwiLLIAM WENTWORTH Li1¥rry TRUST y(R ENDED 31 MARCH 2021 Respon5ibilitiu of ¢ru$tees for th¢ fltttttlxl stxtemebts As explainLxt more fully in the r¢swisibiliti¢s slatgnent out on page 6. the mjstffs ponSIble for the PptIOn ot thL lirtancial sraiemenis and for b¢ing wisfi¢d that ih¢y give a true ansj fair View. and for such internal conirol as rh¢ trnslees dLermine is to enable ihe of fJnwial statrnts are frec fwm rrwt¢ri•l missth1)Cnt, whdh¢r due 10 fTdud or error. In preporing the finanthal siathents. the wre rc5wibl¢ for Lssessirt8 thech8fity'5 ability to ¢ontirtue as a 80ing concern. disLlusin8. as applieable. mairtts Telaioj io going conttrn and vsin8 thc 80ing COthCLYn basis of accounting 1¢$8 ihe Itusi¢e5 ¢iih int¢nd 10 liquidate the charity or 10 cease ormiioThs. or hav¢ no r¢olistic altemaiive bui to do so. Audltor's r¢sptsrtslbllltlts for the audlt of tht fln#nc5al statements Our vbj¢LtiV> ar¢ lu ubtain rOnable assu¥anLe whdhff ihe finath¢i•l stat18 as a whol¢ aT¢ [1 material missiaiem¢ni. whah¢r du¢ lo fraud or rrror. And 10 issue an auditor's re[ includes our opinion. Reasonabl¢ assuranee is high level ot assurancc, bui is not a BuaraniLY that an tsudii cOnducd in accordance with ISAS IUKI will always daea a maicrial misstaiemeni when li cxisls. Misstatwnents can arise from fraud or error and are ((sId¢r1 maierial if. individually or in the 88grcgaie. they could TonablY k ¢Kp¢WLxi 10 influthce the ¢¢)Mi¢ decisioThs of u%rs the ba¥'is ot. thtsc tinunci81 staiLxnents. Irr¢8uI8Niies including fraud, are Instsn$ of nonwmplion¢e with laws and regulations. WE d¢si8n proClUreS in line with our rtsp()nsibiliii¢s, ouilirt¢d abov¢ 10 dLxect materi81 missiaiemcnts in r¢sp of iTr¢gulllriiies. including frnud. The ¢xkni 10 which our procedures are capabl¢ of dte1)ng iTrryulwiti¢& in¢ludin8 fraud is dethilcd below.. BasLYi on our und¢rsianding of the Charity 8t th¢ thvironmt in which li operate& w¢ idMiifi¢d thai the principal ri$k$ of non- ¢i)Inplian¢¢ with laws and r¢8ulations related to the Chariibes Aci 2011 and tth8nry laws. and we c51dercd th¢ ¢xteni 10 whiLh non-LompliJnLL might have a mail1 ¢ff¢ll on Ihe finJn¢io1 staianenis. We also ¢sId¢[a thos¢ l#ws and regulations that hav¢ H dirccl impall on th¢ pr¢poraiity) of the financial s¢at¢ments su¢h as th¢ Charities A¢t 20118nd considcr¢d oth¢T fa¢iors such a5 relevant taxation. We evaluated manag¢mcnt's in¢cntiV¢5 irKI for frauthluLt manipulation of th¢ finwrt¢ial Statemen{ln¢1ud)ng th¢ risk ol-ov¢rrid¢ of controls). and detennined thai the principal risks w¢¥r rt1oi¢xl 10 of estimation un¢¢rtainty. Audit procedure5 perfomied by the engag¢11¢ inclydul: Diseussii)ns wilh manag¢mMI in¢luduiB con$idoioth of known orsu4)x¢ed inn$ of non-¢omplianee with laws and rLBulaiion and frnud., R¢vi¢wing the ¢ontrols and wocdures of Ihe charity 10 tsUre Ih¢s¢ w¢r¢ in place throughout th¢ Evaluating managemeni's ¢Ir01$ dtsign¢d io pr¢vtht and detttt iryularities: Ideniifyins and iesiinBiournals. in PHniwlHr joumal WLtries p)sied thai were material; Ind Challenging assumpliims and made by manwent in th*T ¢riiical arwiniin8 es1imaie& with pllrti¢ulor focu5 on valuwlion of property. A furth¢rd¢scription of our reswnsibilitiL¥ for the a11 of rh¢ financial Stat¢Cnts 15 localLYI oth the Financial RertIng Council, website ai.. www.frc.org.uklaudilorsreswisibilities. Tht$d¢scrii0n fonns pan of ourjuditor's rerxjrt. Use of our report This report Is madc solely 10 the charity's ¢nJ$i, a5 a in aceorthcc wilh seaion 144 of the Charities Act 2011 and regulations made under section 154 of thai Art_ Our audit work has been undcTthken so thai we might State to the charity's trusiffs Ih05e matters we are requiTd io sme io ihem in 3n Auditoe5 rq and for no other purpo8¢. To th¢ fullest exithi pmniiied hy law, we do noi accept or assum¢ responsibility w anyoD¢ othff than the Charity's truste as a Wy fur audit wo. for thi5 r¢port, or for the opiniorts we have fornied Haysmacintyre LLP Siatulory Auditors 14 &.tober 2021 LLLP 10 (SIL Stre£t Place London EC4R IAG HaysMaCinty LLP is ¢li8ible to att ats I1 irt iemis of section 1212 of th¢ C¢)mpsnie5 Act 2(X
THE FITZWILLLIM WENTWORTH LMENrrY TRUST STATEMENT OF FINANCIAL AcrtVlTXES YEAR ENDED 31 MARCH 21121 Unrestricted FuDds EndowqDent Funds Heritage Assets Note GeDeral Fund Investments Total Funds Total Fund5 2021 2020 Income from: Investment trtcome 14.536 14.536 14,862 Charitabl¢ actEVitie8 .779.252 1.779.252 1,768.271 Tol41 In¢ome 1.779.252 14.536 1.793.788 .738.133 Expenditure: Costs of raising funds- 1.985 1,985 3.615 Charithble aciivities 17,430 1.835.585 1.853.015 1.730.324 Total expendlture: 17,430 1,835.585 1.985 1,855,000 1,733.939 NET {EXPENDITUREIIINCOME AND NET INIOVEMENT IN FUNDS BEFORE GAILYS ALND LOSSES ON INVESTMENTS 117,4301 156,333) 12,551 {61,2121 49,194 Trartsfers betw¢ert furtd8 {43.782) 56,333 (12,551) Net 8aLnl(lo.%s} on heritage as8¢18 Realld 8ain on investmenls Unrealis¢d gainl{10s8) on investmen 10 12 12 2.102,482 2,102,482 69 583,480 {277,0501 69 583,480 1194,702) NET MOVEMENT IN FUNDS 161.2121 2.102.482 583,549 2.624.819 1422,558) RECONCILIATION OF FUNDS Total funds brought forward 16 152.784 37,1(F).848 2,549.942 39,812.574 40,235,132 Tot81 funds carrled forward £91,572 £39,212,330 £3,133,491 £42,437,393 £39.812,574 All transactions are derived from ¢on¢inuing aciiviiies. All recogni%ed gains and are included in (he Statement of Fitmticial Activities. The notes on poges 13 to 22 fomi w of these accounts See not¢ 19 for prior year figures by nd. io
THE FITZWILLLLM WENTWORTH AMEi¥rrY TRUST LANCE SHEET AT 31 MARCH 2021 21121 2020 Note FIXED ASSETS Herirage a8sets Tangible fixed assets Investmen 39,311,330 74,868 3.066,894 37,109,848 85,742 2,487,351 12 42.453,092 39,682,941 CURRELYT ASSETS tkbtor5- due after one year due within one year Cash at bank and in hand 13 13 17,866 269,989 94,5 17,866 148,159 163,413 381.860 329.438 CURRENT LIABILITIES Creditors- due within one year 14 1397.5591 (199.8051 NET CURRENT ASSETS {15.6991 129.633 NET ASSETS £42.437.393 £39.812.574 UNRESTRICTED FUNDS General Fund Heritage Asset Fund Inve81meni Fund 16 16 16 91,572 39,212,330 3.133,491 152,784 37,109.848 2,549,942 TOTAL FUNDS £42,437.393 £39.812.574 The notes on pages 13 to 22 forni part of these accounts. Approved by the Trusle¢s on 14 octob 2021 Tnstee Trustee
THE FrrziiLLIAM WENTWORTH AMENITY TRUST CASH FLOW AT 31 MARCH 2021 RECONCILIATION OF YET lO.EIElNTs FUNDS TO NET CASH FLOW USED IN OPERATLNG ACTIVITIES 2(121 2020 Net movement in funds Add depreciation tkduct Iprofitl on disposal of f¢d Jssets Deduct dividends. interest and rents froDI inyesthien Add back Ioss on heritage ats Deduct gain5 on inve51rnents (Increaselldecrease in debtors Increaselldecreasel in creditors 2,624,819 23,940 (661 (14.5361 (2.102.482) (583,549) (121,830) 205,765 (422.5581 23.602 (14,8621 277,050 194,702 76,631 {44,378} Nei cash (used inllgeneraied from operaiing activities 32.061 90.187 Cashflowsfrom inveNing aeiiviiies.. Purchase of fixed assets Sale of fixed &sse¢s Dividends. inceresi and reni from investments Purchase of inve8¢menis Proceeds from sale of investtnen (16.500) 3.500 14.536 (829.000) 725.995 (37.3201 14.862 Net e¥4sh provlded by Investlng acilvltles 1101,469) 22,458 Change In cash And cash equlvleDiS the year (69.4081 67,729 Cash and cash equivalents brought forward 163,41J 95,684 CA$h and e#8h equlv#leni$ ¢ATrled forward £94.1)05 £163,413 Cash al bank Cash held by investm¢nt managers 89,512 4.493 100,909 52,504 Cash and cash equlvalents £94.(X15 £163.413 12
THE FifziTriLLIAM WENTWORTH El¥lTy TRUST NOTES TO THE FLNANCIAL STATEMENTS AT 31 MARCH 21121 ACCOUNTING POLICIES Basis of preparation aud a55¢sqmtnt of golng totteerD The financial $thMen[S have been prepared under the htstori¢ cost convention with items rttognised ai cosi or tyansaciion value unless otherwise stated in the relevant note to these accouDI8. The financial slaments have been prepared in accordance with the Sthrem¢nt of Recommended Practice.. Accounting and Reporting by Chariiies preparing their accounts in 8¢cordance with the Financial Reporting Sthndard applicable in the UK and Republic of Irelond IFRS 1021 Second Edition issued October 2019 and the Financial Rwrting Standard applicable in the UK and R¢publRc of Ireland IFRS 102) and the Chariiies Act 2011. The TnL8t ¢onstitut¢s a public benefit ertlity as defmed by FRS 102. Goln¥ ¢on¢¢rn The Trustees Consider thai there ar¢ no material uncertainties atx)ut the Trust's ability to continue a going concern. The most significani area of uncertainty thai affecL$ th¢ carrying value of assets held by the Trusi is the markd value of the herilage &wets and the level of rental income 8eneTated by them. The financial position of the chariry 1$ affected by moyernertts in asset values. Finartcial investment values increased over the year under report and post year-end there have been substantial fluctuatlons. These flucDJaiions seem unlikely to impair the ability of the charity to ¢orttinue i(s primary role of making grants for chariiable purposes, principally to other charitable en¢itie5. This charity's income is principally derived from letting ¥ mixed propeny portfolio. As a result of C(Trvid-19 the charity is faeed with some challenges 10 ¢oll¢¢ling all the rents which fall due to it. Ther¢ is no indication, however. Ihat the levels of defauli and rent rebates being offered, to enable local busin¢ss¢s to con¢inue providing l(Kal amenities, will jeopardi8¢ the flnancial viability of th¢ chariiy. Fund accounting All ndS are available for use, at the dis¢r¢¢ion of the Trn, in furth¢rArtee of the Trust's ehariiable objectives. The TnLStees estsblished an expendable endowment fund whieh ini¢ially consi8¢ed gf the net assets of the Trust as at 23 May 20(X), being the end of the 21 yeyr accutnulaiion period allowed by trust law from the date of creation of the trust. This endowment fvnd comprised a mix of financial investments and heritage propety the latter being ai the heart (Trf the objects of the charity. It was considered appropriate to further divide the endowmeni fund into two SUfi1ndS with eff¢ct from l April 2005. The fimds ate sUmmd below: ENDOWTrIENT FUNDS All endowment fimds are expendable. Heritage Property Fund Comprises the value of the inv&%tment iti heriwe a&sers which the focal w)int of the Charity. Inve$tment5 Fund Comprises the value of the rlljallci itiv&8tmellts being en(k)wmetht capitsl and income a¢curnulated prior to 23 May 21KM). GaitL8 alld lo&w on investsneni assels are attributable to this fimd. 13
THE FrrzwtLLL WENTWORTH LMENITY TRUST NOTES TO THE FINANCIAL STATEMENTS AT31 MARCH 2021 GENERAL FUNDS Income derived from charithbk aciivilles wgetherwith the associared expenditure is allocated to the General Fund. An inter-fund loan accouni is maintsined io avoid thecomplexity ofoperating separa¢ebank accounts for the separnie funds. The Tn1$ keep under review the need to move assets between fund% to settle this balance. Expendiwre on improvements io Tn1 property. being Consistent with the charity's spl[l¢ obje¢iivA is deducied from the general fund oThJ added to the heritage property thd. Income InLome represemis the ioial income receivable during the year comprising rents reeeivable togeiher with income fM Wentworth Fishery. the Dttr Park. woodland. investment income and 8undry other income. All income is recognisedonce the charity h&seniiilement io the income. it is probable that the income will be received and the ¥mount of income receivable can be measured reliably. Income from inve5tment5 are all derived from inves*d funds and repr¢8ent the total income receiv&ble from fIn¢la1 and property invesunents. DivideniLs are recognised once the dividend has been declared and noiificaiion has been r¢¢¢ived of the dividend due. Rental in¢orn¢ is r¢cognised on an a¢¢nlS basis in accordance with the tern]s of the lea$e. Ilv) Expendilure Expenditure is split between the three fijnds and then cate8orised as relating to the cost of Taising funds, and CharibIe aciiviiies. Almost all expenditure is considered io be direcily related to charitable tI¥ll1C$. Liabiliiies are recognised as expendEture soon as there is a legal or eonstruciive obligation committin8 the TNSI to that expenditure. it is probable that ¥¢ttlem¢rtt will be required and the amount of Ihe obligation can be measured reliably. Grants payable we payments made to third pJnies in the fvrth¢rdn¢e of the charitable objeets of Ihe Tnjst. In the case of an unconditional grani offer this is accnaed once ihe recipient been notified of the grant award. Grant awards thai are subjeci io the recipieni fulfilling perfonnan¢e condition re only a¢¢rued when the recipieni has been notified of the grant and the remaining unfulfilled ondition aita¢hing io the gran¢ is ourside the control of the Tntst. {v} Governance ¢osts Governance costs comprise all ¢05ts involvillg public accountability of the Trust and itb compliance with regulation and good prdctice. The5c costs hllclude costs related to statulory audit and legal fees. (vl} Debtors Short tem debtors are measured at trausaction price, les5 aoy impairment. (vll) Cash and easb equivgltnt5 Cash 15 represented by cash in handand detM)SiL8 with fmanciai institutions repayable without penalty on notice of tLOt more t11 24 bours. Financial Instruments The Charity only ente[5 into basic fllwiciai instruments transactioDS tbat result in the recognition of fmancial a55ets alld liabilities Ie trade a[ other accounts rtteivable and payable. 14
THE FrrzwILLIAM WENTWORTH mErry TRUST NOTES TO THE FINLYCIAL sfATEMENTS AT31 MARCH 2021 {Ix) Creditors Short mI Credito ore measured at the transaction pric¢. (xl Investments heritage #Mets Invesiments are a fonn of basic f(la1 instsumeni and are initially at their transaction value and subsequenily measured 01 fair value as ai the balance sheei date using the closing quoted market price. Investmeni propenies and heritage a&sets have been valued by the Trustees ac market value. Realised and unrealised Bal and loss¢s on investments are included in the st2Men1 of Financial Aciivilies. (xll Depreelatlon Fixed assets are staled ai cost. Depreciation is calculated using the reducing balance method.. Mbinery and equipment 2/0-330/0 per annum Motor v¢hi¢les 25 /47 per annum Signific4nt Judgmettis And tIMate9 The Chariiy prepar¢s an annual valuaiion of its heritsg¢ &wts and invesrment property by the TNsiee8. Movements in the valuation of the herithge ass¢ts and investment property we accounted for in ihe Sthiemeni of Financial A¢tivÈlies. There is signifi¢ant judgement as the indications of the valuation of the heriiage &%s¢ls and investmeni properry. No other significanijudgments have been made in applying accounting lie1C$ and there are no key Sources of esiimation uncenainty. FINANCIAL INVESTMEL¥T INCOME Endowment FuDdg Heritage Investment Assets Fund General Fund Total 2021 2020 Inieresl receivable Dividends Rents receivable 1.625 1.625 1,549 11.4(K) 11,400 11,400 £14.536 £14,530 £14,862 INCOME FROM CHARITABLE AcfiviTIES Rents receivable Fishing Wentworth Park Woods and plantsiions Oth¢r in¢ome 1,681.787 45.657 9,968 17.113 24.727 1,681,787 45,657 9.968 17,113 24,727 1,692,390 42,308 7,110 16,496 9,967 £1,779.252 £1.779,252 £1.768.271 COSTS OF IL41SING FUIYDS Financial investments Properry repairs 1.870 115 1,870 115 1,867 1,748 £1.985 £1,985 £3.615 15
THE FrrzwiLLIAM WENTWORTH AMENITY TRUST NOTES TO THE FLNANCIAL STATEMENTS AT 31 AMARCH 2021 CHARITABLE ACTtVITIES Lnre5tricled Fund Endowment Funds Heritage Investments 2021 General Fulld Total Estate costs Fishing Wenorth Park Woods and plantations Grants {noie 91 Governance (no 61 1.472,159 246,064 78,070 39292 ,472,159 246.064 78,070 39,292 10,830 6.600 10,830 6.6(M) £17,430 £1.835.585 £1,853.015 2020 Estate ¢0slS Fishing Wentworth Park Woods and plantations Grants (note 9) Govwnan¢¢ {no 61 1.381.772 94.701 145.706 29.930 1.381.772 94,701 145,706 29.930 71.355 6,860 71.355 6.860 £78.215 £1.652,109 £1.730,324 GOVERNNcE COSTS 2021 2020 Auditors, remuneration Audii 5,100 1,500 5,600 1,260 £6,600 £6.860 EkMPLOYEES AND REMUNERATIOIY Salarie3 and wage3 sLa1 8unty Pension 69.150 5,870 5,710 61,948 4.126 4.293 £80,730 £70,367 No employee was paid more thatt £60,(M)O. F4umber Number Number ofemployees Thc Trust consider5 its TnL8tees to be key management sonnel. The Trustees were not paid (Trr reimbursed expens¢s dufing the year12020'. £Nil>. NET MOVEMENT IN FUNDS 2021 2020 Net rnovernent in fund5 is stsied after chargrng: Depreciation (Profit) on disposal of tangible fLxed ats Auditors, reUneratioD- audii fees non audit fees 23,940 1661 5.100 1.5(Xl 23,602 5,600 1,260 16
THE FrrziTriLLIAM WENTWORTH AMENITY TRUST YOTLS TO THE FINANCLIL STATEMENTS AT 31 MARCH 21121 GRANTS The Trust made 812020: 21 I grants lotslling £10.83012020.. £71.355) in the year. The gr&llts made in the year are listed below.. Christmas Trt%s Gre4$U8h Community History Society Holy Triniry Churrh- Conservation Tnjst KimbeTh¥orth Park CoJnmuDity Association Marquis Bowling Club Rockingham M¢diJ Weniworth Villag¢ coUnity Asso¢iation Whirlow Park Fa 330 500 1,500 1,000 1,500 1,500 2,5(X) 2,0(x) £10,830 10. HERITAGE ASSETS Property Al l April 2020 Additions Proceeds on diswls Nei gaiDS in the year 37,109,848 829,000 1730.0001 2,102.482 Ai31 mah2o21 £39.311,330 Heriiage assei.s wer¢ valued ai £39 J 11.330 on an ¢)pen markel basis as at 31 March 2021. This valuation was perfornied by Mr A.H. Barber-Lom. FRs FAAV, on b¢halfof the Trns The Trustees acquired £829,000 of Heritage Property and disposed of £730,000 Heritage Property during the year, There have been no other acquisitions. receipts by donation, disposals or impairnients of heritage property since 2018. 17
THE FrrzwiLLIAM WENTWORTH AMENITY TRUST NOTES TO THE FINANCIAL STATEMENTS AT 31 MARCH 21121 TANGIBLE FIXED ASSETS Machinery and equipment Motor vehlcles Total COST At l April 2020 Addiiion8 Disw)sals 158.876 1.900 83.578 14.600 (13.5901 242.454 16.500 {13,5901 At 31 March 2021 160.776 84,588 245.364 DEPRECIATION Ai l April 2020 Charge for the year Eliminated on disposal 99,9?4 14.947 56,788 8,993 110,1561 156.712 23,940 110,1561 At 31 March 2021 114,871 55,625 170,496 L¥ET BOOK VALUE At 31 March 20?1 £45,905 £28.963 £74.868 AI 31 March 2020 £58,952 £26,790 £85.742 All 485¢¢$ are used for the charitable purposes of the TNst. Property Quoted Total 12. INVESThlEliTS At l April 2020 Unrealibed profit in the year Procttd8 of disposal Realised 83in an th¢ year 500,(K*) 1.987.351 628.479 (4.005) 69 2,487.351 628,479 14,0051 144,9311 145.(K)O) At31 Ma2021 £455,000 £2.611.894 £3.066,894 Hlstorlc cost of IDYestments: UK quoted £ 952.280 Investment Property was valued ai £455,000 on aA open market basi5 as at 31 Mah 2021. This valualion was perfornied by Mr A.H. Barber-knm&x. FRtCS FAAV. on behalf of th¢ Tnlee5. 18
THE FrrzwiLLIAM WENTWORTH AMENITY TRUST NOTES TO THE FINANCLIL STATEMENTS AT 31 hL4RCH 2(121 13. DEBTORS 2021 2020 Due After one year: Capitsl account with Fitzwilliam Iwentwonh) Esth Syndicate £17,866 £17.866 Due within ye•r: Trade debiors Current accouni with Fiwvilliam {Wentworthl Estatts Syndicate Prepayments at]d accThed inc¢)n)e 128,839 37,204 103,946 13,764 10,651 123,744 £269,989 £148,159 14. CREDITORS: mOuNTs DUE WITHIYI ONE YEAR Trade creditors Other creditor5 Other tax and Social security eosts Accruals and deferred income Atnounis due io relared under*king 133.1)05 101.747 2.276 10.531 50.000 84.320 2.614 1,048 61,823 50,000 £397.559 £199,805 IS. DEFERRED IYCOfvIE Def¢rt¢d income comprises amounts received in 4dYartce ftsr reni and perniits At Isi April 2020 Amoun¢ released to income earned from charilable activities Amount deferred in year 25,954 (25.9541 49.197 At 3181 March 2020 £49,197 19
TIIE FITZIIILLLLM WENTWORTH AMENrrY TRUST NOTES TO THE FLYANCIAL STATEMENTS AT 31 MARCH 2021 16. RECONCILIATION OF UNRESTRICTED FUNDS Unrestricted Funds Endowment Fullds Heri¢8ge Investment Assets Fund (%e nott Ilii) for explallation of funds) Geller41 Fund Ai 1st April 2020 IDeficLtysurplus for the year Realised proflt Unrealised {Ios5llgain Transfers betw¢¢n fid5 152.784 {17,4301 37,ILV),848 {56,3331 2,549,942 12,551 69 583,480 112.5511 2,102,482 56.333 (43,782) At3IstmJh2021 £91.572 £39.212.330 £3.133,491 16. RECONCILIATIOiY OF UNRESTRICTED FUNDS Unrestrleted Funds EndowmeTht Fund5 Herlt88¢ Inveslmertt A$6¢t5 Fund {see note l(111 for explanatlon of furyds) Gentr•l Fund Ai IstApri12019 (Deficitllsutplus for the year Realised profit Unrealised gainl{loss) Transfers between fijnds 103.950 (78.2151 37,386,898 116.162 2,744,644 11,247 (277,0501 1116,1621 194,702 {11,2471 127,409 At J I si March 2020 £152.784 £37,109,848 £2.549,942 20
THE FrrzwiLLIAM WEIYTWORTH AMENrrY TRUST NOTFS TO THE FILYNcIAL STATE.MENTS AT 31 MARCH 21121 17. ANALYSIS OF I¥ET ASSETS BETWEEP4 FUYDS Endowrnent Funds Heritage Illvestmtnt ASRI Fund General Futtd Total Heritage aets Tangible fjxed a&sets Investments Cury¢nt as8eis Curreni li¥bililie8 39212.330 39,212,330 74,868 3,066,894 J81,860 {298,5591 74,868 3,066,894 381,860 (298,5591 158.169 (66.597) 39,212.330 3,066,894 66.597 42.437.393 Inier-fund loan At J Isi March 2021 £91.572 £39,212,330 £3.133,491 £42.437.393 ANALYSIS OF YET ASSETS BETWEEN FULNDS Endowment Ftsndi Herltage Invesiment Fund G¢n¢r Fund Toial Heritage ati8 Tangible fjxed atI$ Investmen CuTTent &88eis CutTeni liabiliti¢$ 37.109.848 37.109,848 85.742 2,487,351 329,438 (199.8051 85,742 2,487,351 329.438 {199,805) 215.375 (62.591) 37.109,848 2.487,351 62,591 40,112,574 1nier.fund loan At J Isi March 2020 £152,784 £37.109,848 £2.549.942 £40,112,574 18. RELATED PARTY TRANSACTIONS Filzwilliarn Wentworth Amenity Trust is a member of the Fitzwilliam (Wenmirthl Estate Syndicate. During Ihe year, ¢o8ts included arnounts charged by the Fiwilliam Iwentworthl Estate Syndicate for maintenance and adminis¢raiion of £150.36612020.. £230.1761. The nei balance due from Fitzwilliam Wentworth Estate Syndicate at the end of the year wa5 £55,07012020= £28.5121. The Charity continued 10 hold the lease of la1 and buildings ai Wentworth whereby the Charity pays £220.000 (2020.. £200,000} per annum ren¢ to the Earl Fitzwilliam Charitable Trusi. Sir Philip Naylor-Leyland Bt. and Lady Isabella Naylor-Leyland are Tnlee3 of iM)th the Earl Fitzwilliam Chan'table Trust and the Fitzwilliam Wentworth Aellty Tftt. Ai the year end £50.CK)012020.. £50.(X)O) was owed io Earl Fitzwilliam Ciwitable Trus1. Sir Philip Naylor-Leyland 15 a founding TTUStee. With the expr8 approval of the Charity Commission th¢ consiitution of the Welltworth Wo(wJhouse Preservaiion Trust include5 a provision for the Trustees of the Fiizwilliam Wentworth Amenity Trust lo nominate a Trusiee of the Preservation Trust. The Trustees of this clwiiy subsequently nominated Sir Philp Naylor-Leyiand fvifil this role. Expenditure in this¢harity on matters relaiing to the Wentworth Woodhouse Preservation Tn1 amounied io £NIL {2020'. £50,750). At the year end amounts due to Wennvorth Woodhouse Preservation TTrl amounied to £Nil (2020.. £Nil). As noted on page 5, Review ofActivities. the Clwity Commission approved the swap of propety assets between the charity ond Milton IPeterborou8bl Estates Co (of which Sir Philp Naylor-Leyland is Chainnanl at Home Farni & Masons Yard etc. 21
THE FITzwILLI}I TW'ORTH AMENITY TRUST NOTES TO TIIE FLYelAL STATEMENTS AT 31 MARCH 2021 19. PRIOR YEAR STATEMENT OF FINNCIAL AcfJviTIES Unrestrictfd Funds Endowmenl Funds Heritage Note General Fyryd Investments Total Funds 2020 Income from: Investmeni income 14.862 14.862 Chariiable aciivities 1.768.271 1.768.271 Total Ineome .768.271 14.862 1.783.133 Expendlture: Cogis of raising funds.. 3,615 3.615 Charitable activitie8 78.215 1.652,109 ,730,324 Total expendliur¢: 78215 1,652.109 3,615 1,733,939 NET {EXPENDITUREIIINCOME D NET [oVE1]ElT IN FUINDS BEFORE GAINS AND LOSSES ON INVESTMENTS {78,2151 116.162 11.247 49,194 Transfers between funds 127,409 (116,1621 {11.2471 Nei gainlllossl on heritage asseis Realibed gain on invesiments Unrealised Ilossllgain on investment$ 10 12 12 {277,0501 (277.0501 (194.702) (194.702} NET MOVEMENT FUNDS 49.194 (277.0501 {194.702} (422,5581 RECONCILIATION OF FUNDS Total funds brought forward 16 103.590 37J86,898 2,744,644 40,235,132 Total funds carrled forjvard £152,784 £37,386,898 £2.549.942 £39.812,574 22
THE FITzWILLIm WENTWORTH l1¥[[y TRUST LSTATE AccouKr AT 31 MARCH 2021 2021 2020 Note ESTATE INCOME Agriculwral renis Residential ren Commercial rents Other rents 245,116 1,130,759 291,418 25,894 25J,574 1.097.636 326.701 25.879 .693,187 1,703.790 Other income 24,727 7,887 TOTAL ll¥COME £1.717,914 £1,711,677 EST ATE MAINTENANCE Property costs Woods Wcntworth park and fishery 1.071.514 21.996 268.508 998,491 13,433 190,988 1,362.018 1,202.912 ADMIYISTRATION Nei manag¢m¢nt expert8es Insurance Le8al and profe.ssional charges Audit and a¢¢ountancy Irrecoverable VAT 201,549 25.342 31.850 6.600 144.073 191.690 22,765 31,730 6,860 138,625 409.414 391,678 TOTAL KXPENDITURE £1,771,432 £1,594,590 NET ESTATE (EXPEf4DITURE}IINCOME (53.518) 117,087 Donations Dividends Interest receivable (10.830) (71.355) 1,913 1.549 1,625 161,212) 49.194 Realised losses on qu00 invesrments utealISed gain5 OTI quoted inv&8tments Unrealised gains on heritage asse 69 583,480 2.102.482 (194.702} (277,050) NET MOVEMENT IN FUNDS £2.624.819 422,558) 23
THE FITZWILLLIM WEI¥TWORTH AMEYITY TRUST NOTES TO ESTATE ACCOUNT YEAR ENDED 31 .WCH 2021 2021 2020 IIYVESTMENT INCOME Dividends {pa8e 231 Interest receivable (page ?3) Rental income on Harrietsfield House (note 2) 1.913 1.549 11.400 1.625 11.400 Investment Ineome {pag¢ 10) £14.536 £14.862 INCOME FROM CHAIUTABLE ArfiviTIES TOTAL NCOME IPage 231 1,717,914 .711.677 Fishing income Inoie 31 Wentworth Park {noie J) Woods and plan¢aiions Inoie 31 Oiher in¢ome- insurance rechar¥e Renial income on Harrieisfield House lrt01¢ 2) 45,657 9,968 17,113 42.308 7,110 16,496 2,080 111,4001 111,400) Income from chlrltable aetlvltles (pag¢ Ilj) £1,779,252 £1,768,271 EXPENDITURE TOTAL EXPENDITURE (Poge 23) net of income 1.771.432 1.594.590 Fishing income (note 3) Weniworth Park {note 31 Woods and plantations {note 31 Other income- insur4n¢e recharge Donations {Pag¢ 231 45.657 9,968 42,308 7.110 16,496 2.080 71,355 10,830 Total resouree$ expended Ipage 10) £1.855,tK)O £1,733.939 PROPERTY COST ALYALYSIS Agricultural repair5 Residential repairs Commercial repair5 General repair5 Monurnent repairs Rent payable Other 21,930 705,379 35,165 42,958 4.851 220,000 41,231 10,487 693,788 35,266 27,865 4,220 200,000 26,865 £1,071,514 £998,491 24
THE FITZITrILLIAM WEYTWORTH AMENITY TRLST CASHFLOW YEAR ENDED 31 MARCH 21121 2021 2020 RECONCILIATION OF NET INCOfvIIL¥G RESCOURCES TO NET CASH OLTFLOW Net {outgoingyincotDirt8 resources Depreciation Profil on disty)sal of red a&se IDv¢slmeni income {Decreasellincrea* in debio Decr¢a8el(increase) in ¢rditors (61.212) 23.940 166) (14.536) 121.830 (37.400) 49,194 23,602 (14,8621 76,631 {44,3781 Net cajh loufflow)Ilnflow from tsperatlng activiti¢s 32,556 90,187 CASH FLOW STATEMENT Returnj from Inve8tmeDts Ind Jerwl¢lrt8 of flDance Interesi receiv¢d Dividends received R¢ntal income .625 1,549 1.913 11.4(X) 14,536 14,862 C&plial EXpendItre Paym¢nts to acquire fixed assets Paym¢nts to acquire investments Receipt1> from dispo¥al of fLxed assets Receip18 from disposal of invcstmertls (16.5(M)) (829,(M)01 3.5) 725,995 (37,3201 1116,500) 137,3201 NET CASHFLOW 69,408) £67,729 CASH MOVEMEf4TS Openins cash balance Closing cash balance 163.413 94,005 95,684 163.41J DECREASEI{INCREASE) IN CASH £{69,408) £67,729 25