COMPANY REGISTRATION NUMBER: 02222950 CHARrrY REGISTRATION NUMBER: 802711 The Whitlingham Charitable Trust Company Limited by Guarantee Report and Financial Statements Year ended 31 March 2021
The Whitlingham Charltsblo Trust Company Limited by Guarantse Financlal Statements Year ended 31 March 2021 Pago Trustees, annual reporl (incorporating the directorfs report) Independent examinerfs report lo the members 11 Statement of finanaal activits'6s 13 Slatement of finanaal positi'on 14 Notes to the financial slatements 15
The Whitlingham Charltable Trust Company Limlted by Guarant•• Annual Report and Flnanclal statements Year ended 31 March 2021 R•feren and admlnhtratlvo dolalls R•gist•r•d ch¥rity narn• Th8 Ivhttlngham Charitable Trust Charlty reglstrallon numb•r 802711 Company reglslrntkln numb•r 02222950 Prln¢lpal offlce and r•glst•r•d CIO Adepta Limited Hill Fann Klfby Roa¢J Klfby Bedon NR14 7DU England Th• Irust••• Mr J R Colman Mr R Bennatt Mr M Fakon Mr C Penn Mr R D Hutton Company •o¢r•tsry Adopta Umltod Ind•p•nd•nt Ex•mln•r RSM UK Tax and A¢countirvJ Limited Blonhèim House Newnarkel Road Bury St Edmunds Suffolk IP33 3SB
The Whltllngham Charltable Trust Company Llmlted by Guarantee Trustees. Annual Report (Incorporat5ng the Dlrectotrs Report) Y•ar •nded 31 Mar¢h 2021 The Iruste8s, vtho are also the directors lor the purpos&s of company Iww. present their report and the fancIal statements of the tharity lor the year ended 31 Marth 2021. Stru¢tur•, gov•m•nG• and m*nty•m•nt Company Status The Trust is a tharitable (%pany, limited by guarantse. Every member of Ihe company is a guarantor and undertakès to contribute lo the assets of the company in thg event of il being wound up with a dèficf( of funds, Such amounts as may bg rgquirgd up to the limri of th9ir guarant99. Each guaranlorfs liability Is limited to £1. At 31 March 2021, there were four such m8mbers', Sir Timothy Colman (deceased 9 Soptember 2021), James Colman. Chrf8toph8r Penn arKI the Broads Authorlty. Tru•to•• Tho Trustae8 of the ¢harltabl8 conpany durlng Ihe year. who aro dlr8¢lors of ts Company for the purpo$e8 of th& Compankn8 A¢t 20C6. were: R 88nnett J Colman M Falcon R Hutton C Pann None of the trustees except J Coknan and C Pann are members of the charriable company. The Broads AutPMth, a8 the nomlnatlng boty, may appoknt a number of membar8 to the charltable company and may app(Int up to f(yJr Iru8tee8. Other T190$ are appolnlod by the membern in a ganoral nting. The numbw of Tru8t888 Shall not be less than five Ixrt shall not ex nine. Trustees rroet regulaty and are responsible for making dedslons. Tnjslee appolntments are made on the basis of nomln8tiorA by momber8 In a88(latn wllh Ihe Momorandurn ArtiGlgs of A¥¢181k.
The Whitlingham Charitable Trust Company Llmil•d by Guarantee Tru5tees' Annual Report (Incorporatlng the Dlrectorfs Report) Year ended 31 Mar¢h 2021 Objectiv•s and actlvltles The Charilab company {'the Trusf). a regt* charlty and company Ilmtted by guarantee. was created to manage and maintain for the public benefrt Vthitlingham County Park. noar NoThvich, Norfolk. The Tfust was 88tablished under a Memorandum of Association and 18 goverwd by tts Artldes of A5sociatlon. The Trust was establlshed In 1988 under the tern of an agreement betsveen Norfo County Council and the MInghall Setuement (landowners) for tho extradion of gravel from the site. This agreernent requires the restoration and managementofthe site. post4xtrackn. lo provido an open place where the publlc can enjoy quieL peaceful pursuits in a njral environment. The resloralion of the $ito was the responsibilty of the lar¥Jowngr8 and mineral tyrators. FoNowtng restoration, the land was leased to the Twst under a k)ng4enn lease. Tr original Park infrastructure was sp8crfied and funded in accordance th planning agreements b8fvmn Norfolk Cwnty Council arKI the land019rS. The Trust Is now r8sFonsibie for the maintenan¢a and managemont of the area as a Country Park. Th9 Trust ¢omThnced operatlon In 1992 wlth the handover of Trcw80 Wood arKi M88dow. The acquisition of Whrtlingh8m Wood and V1Ingharn Litde Broad followed in 1994 and 1996, rospoctivety. Whluingham Llttle Broad was opened to the publlc In August 1997 with Whitlin9ham Great Broad foll¢)wing In 2004. Mlneral 8xtra¢tion and subsequent restoration h8$ b06n Compfgted on the area of land and water whlch forms Whitlingham Country Park. Tha Tru8t has deveb)p&d tha County Park In Nne Vllth 8u¢¢8ssr¥• business plans. A 2441r rnooring on th8 Rlver Yare was establlsh8d in 2005 arKI has bogn u8ed $u¢¢esthly 85n¢o. The Flint Bam Visitor Contrg W85 Gompletod in 2006. Thg Flint Bam18 a focal polnl for vlsltors to the Country Park and the Trust has leased part of the ground 1kr lo a ¢alerlng company lo providè café 88rvlce$ to vlsltors. Whilingham Adventure, an rtdOOr educatlon contr8. on th& odge of Whitlingham Great Broad an operating in 2005" it is owned and managed by Norfolk County Council on land leased from Ihe Tru81. 8y a manag8ment agreement. they are 81$0 respons1¢ for managing the water space ofthe two Broads In the Country Park. This OutdC educat (MpleX delNers a comwehengiv8 raroe of 5POrt and adventurous a¢livits'es. especially young people. Due to the uryreced8nted sttualion brought about by Covid-19, Whitlingham Athmnture was cknsed to the publc Irb March 2020 and remalned dosed for the year. Land has been leased to Whitlingham Boothouses Foundation for (xrtructlon by them of a new, purpose buill facilty for rowirvJ and carK)8ing close to the river Yare. The Vlhidlngham 8oalhou8es project was completed In August 2015. 11 has provlded an outstandlng ¢ommunlty fadlity for both rowing and canoelng and has already attracted more vlsltors to the Park. Durlng the year under vIeW, the Tntst continued to manage the Counlry Palk in close Co-operatlon th its pariners. including Norfolk County Councll. There is a range of acc8SS OPPOrtunitte$ for visitors acros8 the Cntry Park area with ong¢yng improvoments to the Infrastruclur• planned In the future, IncdIng the provlslon of new lodet facilltie8. Large numters of people Gonlinue to visrt WhilnghaM Country Park to enjoy Ihe peaceful surroundlngg. Visrtoi numbers during Ihe perThls of nabonal kxkdown during the year have been particularly high and th6 park remained open to provide visilors with the opportunty lo enjoy outslde relax8tM)n and exer¢ise. The estimated annual attendance al the County Park Is abrmjt 500.rxxi vlsttors a year.
The Whitlingham Charitable Trust Company Llmited by Guarantee Trustees. Annual Roport (Incorporatlng th• DIrt09 Report) (¢othlnii•dJ Year ended 31 March 2021 The Tru5te8s of Ihg Vlhitlingham Charitabb Trust docided in Sèptèmber 2019 to bring to an end thg management of Whitlingham Country Park by th8 Broads ALrthOty wlth effect from 1 April 2020. A plan to transitlon to new arrangements was imFAemented prior to 1 Apn'l 2020 and de5pile the Impact of Ihe pandemic, this plan was irnplgmented successfully. The Trustee¥ appolnted a loGal ¢ompony to manag8 and malntsln tho Park on behalf of the Trust. Thls company. HK Country8MJ8 Managemenl. 18 wn by very experienced director5 who h8ve strong10¢81 knowledge of the Park. The Trustees are very gratefvl to th• dlreclcys of HK Countryside Management for all of their hard work during a partiGularty challenging year due lo the pandemic. Achl•v•m•nt• and P•rfornianc• 11 Is drfficum to write at*JUt the Tnjst's 8theMents and perfornwnce forthe year 8nd8d 31 Mareh 2021 agaln61 such an uncertain backdrop Crgated by the gknbal pandomK, Covid-19. That sald, tho TN$t does not want the year to pass without recogning the offorts of many pooplo who have made the year anothar su¢¢ossful one In the history ol the Park. In deckllng what activrties the charity shLwkl urmlertake the TnJstees have kopl In mlnd the Charfty Commission's guidance on public bfrnefrt. The Country Park is opan to all membaf8 of the public and pn)vid88 a vaned Lgndscap8 which Is rural In character and poaceful. The Park Supplemonts thg Cty's groen infrastrudur8 and Ihls role is promoted and $UPFthed by tho Lqnd (wmefs and local authorfty partn8r8. The network of pathways vAthin tha Park is used by jo93ers, ramb18rs, lamilies and dog walkers. Main pathways ar8 suhab16 for disablèd ac¢o58 with further imyovomenls planned and there is a dts¢ounted parking scheme for bhJ8 badp holders. The National Cyckn Route 1 follows Whltlngham Lane through Ihe Pa. A180 The Wherryman'8 Way traverses close to the 80Uthem LM)und8ry of the Park, conn6¢ting Norwich to Grèat Yamiouth over dlstance of 35 miles. Visitors navigating the Broads by boat Gan alight at the 24 hour mooring on Ihe Rlver Yare and make u8e of Ihe electrfc ch8rgkng polnt. The water areas of the Great and Llttle Broads provlde $pa¢e for reCreaOn and educatlon. The Park operales a Visitor Safety Poli¢y which has been endorsed by all partner organisations wlthln th8 Part<. As part of ensuring safety in the Park. there has b90n a review of all signage and Steps are bekng taken to update all snage. Norwich C8no& Club has use of tho Lmufr Broad bts tralnlro 86s81ons and BoathcAJ8e U8ers have direct acc$ to the Rwer Y8 navUqatn. Norkn"ch Model Yatht Club meets ce a week and members race thelr craft on the Great Br08d. Norfolk Fire & Rescue seThe praGtices water Safety training at Whitllngham. cl lo thelr ststion at Trowse. The Pat1( prowdes a popular venue for events and education dtawng attendan$ from Norwi¢h and the region. However. during the year unts miew. events in Path have been severety reduced due to the need for publtc safety during the paThJemic. It is expected that large events hosted by Ihe Park in prevlous ygars suth as the Norwith Triathlon and ASA East Region Open Water Swim will return in the future. A number of Ilcensed fftness groups use the Park as a venue for a range of aGtivilies although some of these activitses have been curtailed during the pandemi
The Whitlingham Charitable Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectorfs Roport) (¢onthu Y•ar onded 31 March 2021 In wijuncon wlth thLs. the websile has been rewamp6d and updaled to pyovide a full events list wlth guidance for visitors and event organlsers. The webslte now Includes a faclllly for donations. A Facebook page has been developed whth enables the Trust to communicate more effectNety with th& public. Trustees approved a new 5 year park managemt 0?rIng the period 2020 10 2025. Th18 88ts out the objectives for the Park arKI its operating principkn. The grass areas clo$6 to thé Flint Bam are movm to a SI swanl for amenty purpose8. conduci6d fOrtnighY ovor summer months. In certain seclions of the Park, conservation oblectfves tsk8 precedence and publ a¢¢e$$ is dlscouraged forthe ofwibjlrfe and habitats. The Picnic Meadow is mown to a cl$61ation Schedu and has a more natural apwarnnce. Tro• works wTthin the Park are (xjnducted by tralned staff supplernenled by ¢ontractor8 a8 sc418 and type of dl¢tsles In Iln8 7wlth the adopt tr88 p(4Ky. During th6 year. 950 new trees were planted. Roadslde tree work and ess8ntlal thinning w8r• carrièd out in Whitlingham 8rKI Trow$g Woods 88 Part of the long temi managgmenl plan. A tree survey has idontffied felling and malnt8nance op&ratlons In order of prborfty taklng Inlo con8ld•rallon hoalth and 88foty Pfoblom6, wlkllrfo habttats, historlc Inwortance and landsc8pe value. As in provious year5 V•th the h3h vlsrtor numbers, sonS of the footpaths have bocome worn. W¢yk to Improve the paths around the Groat Broad w1 c4)nb'nu6 in fvlure years to provKle access for all vlsmors. Th• Park'8 voluntè8r8 ¢ontlnue to mak• a valuablo contrlbuth)n to tho Country par Th6 volunteors continue to Use their tralnlng kn mowing, brush CLffting, tractor drfvlng and tho wood chipper to asslst thom lo help maintain th• Park, indgpondently and alongside Ihe management company. Volunteers gave 1,500 hours to the Park In 2020121 and havè assiytad vAth slte ¢+ecks,' vtgetstion managgmgnt; fvmttur& repalrs; Invaslv• $poci8s control" Iltter plL*lrvJ, •ryaging wlth the publlc and day lo day maintenance. Additional volunteer support of 6(M) hours was provmled by students from City co18 and Easton College. Support Irom other visibng group$ received in previou$ years wa¥ suspended due to th8 restrictions durfng the pandemlc. The Trustees hope that these groups WIN be ab io retum to support the Park In tho fLrtura. The Trustees would Ie to record thek apw8clatK)n of al work done the vOnIe8r$. Under the agr8èm8nt bthtsen Ihg landownefS arKI the Trust, the Trust has been endowed with a capltal sum of £553.000 recelved by Inslalments. the flnal belng recelved In 1999. The Trust ha$ Invested thlg lo a$$l$t In fvndlng annual maintenance and administration costs of the Parl(. Funding is required to finance further development ol amenities and I11115 arKI thair subs9quent maintenance to cope ¥th the increased numbers visibrvJ the Park. Gf8nl ffijnding for thi5 purpose has been obtained through enroknent as an environmental body under Landfill Tax regu18tions. This funding is described in the financial review over the p4e. The Trust also geeks further grant aid and the generation of income from car parking ft)r this purpose.
The Whltllngham Charltable Trust Company Llmlted by Guarantee Trustees. Annual Report (Incorporaling the Directorfs Report) (¢onth?u Year ended 31 March 2021 Our response to Covld-19 As you wOuj exprt our respMse to Covid-19 has been a Ma1 matter for tho Trustees sSn¢a tho Impact of the pandemlc began to manwest Itseff early in 2020. The Trusfs first priorfty was for th8 safety of its visilors. volunteers and contractors. We reacted quickty to the UK Govemment's gudelines al the start of the lock(kn¥n period in March 2020 and dosed a number of our laclHlles. including the Fllnt Bam and the ¢ar patk8. At the same Ilme, the Trusteeg reeognlsed that the Park ethld provldè an imp(xtant lif81ine lo members of the publi¢ by remainlng on enabling time to be spwit outdoors and providing a place for ex8rcise and relaxation. Following liaison with the kxal pdice, the car parks were re-opened having been closed for Aprfl and May 2020. The Fllnl Bam was a0 rePened in June 2020 after a rlsk assossmgnt w89 tarrled oul and tha cateflng oparator started Io Fwovhja a takeaway sorvt¢6. During the period oflockdown and subsequenlty. the Park has b8en extram8ty busy which d•monstr8tos Its value to th8 publlc In provkllng an OnrOnMent In whlch peo can anjoy themselv88 aTh8 g&t away from the stre$$&s and $tr8ins caused by IviThJ wth the p8ndemic. The Trustees are enonnously grateful to its new man898Thth company. HK Countryslde Management Llmlted, tho volunt8w6 ar other o)ntra¢torn wtK havo wothod so hard lo koop tha Path open durlng Ihl$ vgry ch8Monglng perlod. The pandemic Is unprgced9nled and there vs no way to predict the extent to vthich il will lrnpa¢l on Iho Tru8t's activitlès gng lorward. The Trustaes recognise that they WUI need to monitor th8 impact vary carefijlly and take whatever action 16 necessary. R•s•rv•• pollcy It18 the Intenllon of tho Trustees that the fredy avallable reserves of the Tru$1 Should be built up to, and malntained at, a18vel whlch Is suffKient to ensure the contsnuation of the Trust'8 activltios. Freoty avallablo fr¥83 are UnrtrIcI•d funds whlch aro not commlttod to or Invested In t8nglt4e fLxed as8et8. In detemiinlng an appropnate knvel of reseNe$ the Trusteos havo rngard to 8 number of matter8 whlch Include.. 1. Fore51$ of expendituro on the bas of pk8nnod advty. In fuluro yoaryJ it 18 anticipat8d Ihat management and maintenartt of the Country Park 15 likety to in¢rease due to age and intensity of use. 2. The requiremént for day to day wong capital. 3. In¢ome rlsk whSth woukl Include the dfversity of sources of Inwffe. th& rellablllty of Income sources, prospects for devèh)ping new sourc95 of income and an assessment on thg evhdence avaiLqble of the Nkemhood of eath of varylng arrfl the wtential Impact on Trust of r1 being able io deal wfth su¢h fluctuations. 4. Analysis of future risks and contingencies whith would be unlkety to be met out of regular Income. 5. Funds which will be wuired to replace fryed assets.
The Whltlingham Charltable Trust Company Llmlted by Guarantee Tru$ts•s' Annual Report (Incorporallng the Dlrectorfs Report) (awrtlnu•dJ Year ended 31 March 2021 After consideration of the at)ve the Trustees have de¢Nled that an appr(rIate level of fre8 reserves Is apprornalefy t4•Ave rnnths. nomial expenditwe to gr in lim ith planned expenditure. At 31 March 2021, unrnslricied free reserrfes were £314.227 whKh equaks lo approxSmatety months of 8nnu81 unrestrlcted expendlture. The Fixed Asset fund of £20.193 ha$ bfron de$lgnated to cover the purthases and Instsllation costs of Ihe Tollet Bk)ck (£10.933) thin the County Park. Tractor-mower (£7.764> and the first phage ol signage rep18cem8nt (£1,496). The reseNes for futur6 ¢apltal spend s8 al £27.087. Thks period assum8S the continuance of grants and donations for re$tri¢tod purposes expenditure which, rf such income were to decrease, could resuk In the perfc#J being much shorter. The reserv85 polky Is subj8Ct to regular remow by the Tfustses. Invmtmant powers. pollcy & porfornianc• Tho charltable company'6 arudes of as8odatk)n. wthlch 9fv88 wKle pDw8rs of Investm1. govam tho Tru8to0$' Inveslmenl powers. Th• Tru8to8$' pollcy18. after re¢afvlng sutsble advlce. to Invest in IL8led securitles on the London Stoc Exchange and slnce Juty 2016 has reslrS¢led Its InvestsThnt Into lobaco) compani8s and those companios that may potontlally damago tho kxal are88 lo the Cntry Park as wall a8 diversifying tts porNolio lo Includ• Inve$tm•nt In blu• chip ok)bal equllbs. Tha Invostmont obl8Ctlve8 are lo maintain Incomè al 8 reasonablo bvol. whil$1 pr080rvlng tha ro81 valua of andowad fund8, arKI lo mlmse Income on tsmporarlly Inv•$l•d unrestrlctod arKI restrl¢t¢d fvnds. Tha charlty'$ Investments havo ¢ontlnuod to bo managed In conf(xmty wilh our pollcy. Tho incomo retum on the average cost of inYa8lments kn the year was approxlmatety 2.WA (2020:4.1%), which the Tru8te6s Coror to bo sas18¢10ry. Flnanclal rovl•w The balance of the endowed e4phal fijnd at 31 March 2021 of £1.120.708 repyesents th6 capllal In$tslments recefved 01 £553.OC(l. plus the cumulative in(xea9e th? market value of the undertying investrnents 01 £567,708. Tho net change in th& matht value of inveSnts for the year was an Increase of £165.106. The Trustees. having undertaken a revlvw In the year, now operalg an ethiGally geared policy on Its investments. The investm8nt portfolio will ntinUe to be managed to provlde long lemi growth and to maxmigè incom8 wilhoul undue risk. However. in view of TTent world events, the ouuook Sn the current year for satisfactory investment perIOanCe ointinugs to be uncartain, both In terms of market value and irne retum. The Trusl Is enrolled wth ENTRUST 89 an envknorrfnental botty under the dfill Tax regulatlons. The Trust has previously recoNed grant fundiThJ whith rgsufted in tho opening of the Flint Bam. ENTRUST regulations requlre Its Interest to be relwstered. and as at 31 Marth 2021 ts rgstrithd fvnds balan was £620.429. Unrestdcted Income lo the general fijnd for the year of £289.759 represents inv8ment Incom8. car park income and UDrestrided grants arKI donations for applic81ion to the general running and admlnistration costs of the Trust. Unreslrbcted expendituT8 Sn th9 year of £246.362 on maintenanGe and management of the Park arKI general adminBtration has been charged agalnsl thls income. The balancg of the general fund carried forward of £314.227 will be wuired for increasing fuiure malnlanance and management costs.
The Whitlingham Charitable Trust Company Llmlted by Guarantee Tru5tegs' Annual Report (Incorporatlng the Dlrnctorfs Report) (¢d0) Year ended 31 March 2021 The arrarvjorngnt oflhe provisitin of pothng managomgnt services to The Whidingham Charitablè Trust Changed on 1 April 2019 when the Trust appointed RCP Pad¢ing Limited. a lo¢al ¢omp8ny to manage the car parks on its behalf. RCP is paid 8 monthty management fee for its services. The change in the car park management arrangements arose as a result of CO8M$ about the performance of tho previous ¢)Porator whlch resultgd in the Trusl lemaling the contract on 31 Marcth 2019. Th8 Trust has made a claim against the previous for morie8 tt con61d8r8 it 18 owed, Rl•k Management Tho Trustees undertake a pedi¢ reviw of rnajor stralegic, bu8lne88 and 0poratK81 ri5k$ facing Iho charlty. Thls Is effeciualed through a Risk Register by whlch the Truste88 ¢an Identlfy and assess each category of rlsk whbch coukl potsntlally jeop8rdi8e th8 busines8, the Trust's key objectives and the way it operate8. Rlsks are Id6ntifi6d and rnoasur¢d on thelr prob8bllty and impact or severity using a scal& of 1 to 3 to ascertain a risk tc4aranG8 lovel. Tho alm Is to manage all rfsks lo as l¢)w 8 tobor8n¢o1ov•l as reasonably practicable by introduction of mitigation mea8ure8 wthith are rnvivwed to ensura that the systems In place to manage the risk aro rol)usl and reasonablo. Al tho t6mo of the last revifrw, the TN$l h85 idontifiod and con8lderod a numbor of rf8k8 to bo above the acceptable tolerance level. These are outlined and mllwjated as folkiws.. The nofvavailabiltyAoss of the Whillingham Chair. m•mbw8, Dlro¢tors and Coryany 8e¢retary. In this event the Articles ofAssocaats'on gov8m$ tho pro¢odures lo be put In plac8 lor nominating new memb8rs. A vi¢e4haim)an rolo has also beon introduc8d In delegatlon for tho Chair in hi8 absence. &gnificant loss ol in¢ome as o rosun of a roduction in the value of investmanls. lower ¢ar parking revenu8 and10$6 of tananl. The Trust's investments are I8eWed by the Inve8trngnt Sub-committee regularly and a dixretionary service is in place wth the Tru$t'$ investrnent managers altrjwing Ih¢m to trade se¢uritN?s in th8 porttolK) accordingty. The contract provision for the management ol the car parks has been changed and a new arraNJemenl is in place for cashlass payments. Ineffedva eNJ8gement key partner8lstskeljer$ YthiGh breakdown key relatlons on issue$ affecting the Park and result In the failu lo deliver objectives. loss of income arld opportunities. The Trust endeavours to maintsin an open and transp8nI re18tionshlp wlth key partnerslstskehdders. Key partners such as stsff from Whillngham Alventure attend Trust meelings in order to keep abreast of ongoing i$$ues. The death or serious injury to volunteers and contractors whlth cwld lead to loss of 8xpertise. k)s8 of Cfedibility wtth the publTrcJstakehoh1e and potential legal action against the Tru8t. Health arbd salety pwrxedures and Pole5 are already in place to ¢oun16r and prevent such risks from arising. Regular iisk assessments are carried out lo ensure the safety of surroundings as well as indr¥iduals and where required health and safety tralnlng is prowded too. Continuous safety audris and ongolng mainienance programme8 for tools and equipment also ensure Miniming FJolenli81 hazards.
The Whltllngham Charitable Trust Company Llmltod by Guarantee Trustses. Annual Report (Incorporating the Directorfs Report) (conllnueo) Y•ar ondod 31 March 2021 Tho death or $erlw8 Injury to a m8mb8r of the public wlych could result In dvil or criminal action agaknsl the Tnjst. tential cjosure of the Path, *81 costs and fir. loss of ¢xedibilityIPUtation th8 publk and also hwher Insurance premium8. Rigorous pc4iGi8S and plans are in place to wver hazards presented for both land and watsr through a Visitor Safety management an whth is abo publk8hed. Furthenrorn. r8gular site inspections of furnlture, facillties ar¥J annual tree surveys in addition to the audrt and reaW of signa98 and public re8cue equipment 8re c4)nducted as part of the site safety system In place for the Park. Golng ConG•rn The Trustees ackn0d9e the $lgniftant uncertainty surroundlng the duration of the Covid-19 n8tional pand8mi¢ on the national ecommy and th8 TNst'8 8(knitle8. Th8y will continue to monmor knpact on the Tru8t and tts financlal arrangements. Th8 Trust start•d the Current financial year in a $lrong financial posibon vAth a healthy level of ro88rvo5. Thls 1$ expected lo asslsl tho Trust in dealing the exceptional cirujmstarlces of the presanl tlme. The Trust also startod the year with annual budgot basod cffi pravlous lovols of Incom8 and oxpenditure 8nd 8 modlum temi finonclal plan. Tho Trust ha8 been monftorfng c88h IkAv to ensure that It has SLrffident cash resour¢e$ to continue to operate on a day to day basis. Th8 Trust has proparod an amorg8ncy budg81 for the year nding 31 Mar¢h 2022 In response to thfr CoMd-19 pandemic and has CsIdor8d Its mgdium tgm) flnanclal plan for the period at least 12 months frorn the date of $tqDing the financlal slatemonts. Tho Trustees eW at the date of 81gnlng th8 flnandal 8tatements1g that th8 Trust romains vkiblo and remalns a going concem. Plan• tor Futur• P•rlod• De8Pite the nab'on81 un¢¢rtainty kn thè Ilght of CovhJ-19. thè Trust r¢malns commitled to delivtrlng its core purpose of providing a pkn of quiet enjoyment for its visrtors. Over th6 noxt fow years tho Trust and the landowner Wo b>)king to Improve fac1it8 wthln the County Park. As part of thi8, projects are belng Identlf and OrtISed u8lrwJ infomwlion from the vlsitor survey to take forward as funding bewne$ available. These projects Include Ihe provision of new toilet fadlitsgs to repSa¢8 th8 outdated facilities in Ihe Flint Barn car park. Work on the now toilets stsrtèd In June 2021. The Flint Bam wll conlnue to operaie a café and events programme wlll also run through th• year and will offer new education and other 8cINriies as r( ntInUeS to d8vebp. The Trustees are al looking forward to the fuiure with enthusiasm
The Whltllngham Charltable Trust Company Llmlted by Guarantee Trusts8$' Annual Report {Incorporatlng the Directorfs Report) (conthu Year ended 31 March 2021 Trustms. r•sponsibllitl•s stat•m•nt The tru8teos. who are also dlrectors for the pwposes of company law, are reSp(SIble for prepadng the trustees. report and the financial statements in accordance wrth applicabk law and Untted lQngdom Accounting Stsnd8rd8 (United Kingdom Generalty Accepted knwnting Practice). Company law requires the charity trusloes to prepare financial statements for each year which give a true and fair view of the slate of affairs of the Charitab company and Ihe Incomlng resources and applicatlon of resources, Includlng the income and 8xpendllure. fty that poriod. In preparfng those flnanclal stal•monts. tho truslees ar8 required to: SeCl 8ultable accounlkffj polKlos and then apply them consbtenty: obsenie the methods and princlples In th8 applKable Chaiities SORP., make judgments and 8ccounling estimates that are r8880nabb8 and prLthbt: Slate whethor appll¢able UK Attountlng Stsrnlards h8vo been folk>wed, subpct to any mat8dal doparture$ dl8¢losed and explalnod In the financlal st8tom6nts: prepare the financlal statements on the going con(%m ba818 unle$6 It 1$ Inappropdato lo presume that the charty wlll contlnue In Lw8lness. The Iruslees are responsSble for keeplrvJ adequate accc4Jnting re¢ords that aro suffiGi•nl to $h¢)w and explaSn the charws Iransath'ons and dLsclose reasonablo attur•cy al any timo the financlal posltSon of the charlty and enable them lo ensure that tho finan¢ial statemonts comply with th8 Companies Act 2006. They are also responsible for safeguarding the a$s&ts of the Charity and hence for taking reasonable Steps for the Prevent)n and deteckn of fraud and other Irreguloritbs. Thls report h8$ been prepared In accordance wlth the provislons appllcable to companles 8ntitl8d lo tho small companies exemptK)n. The trustees. annual report and the strategi¢ rèport wère approved on 17 November 2021 and slgned on behaw of the bDgrd oftru$loes by.. Mr R Bennett Trustee 10
The Whltllngham Charitable Trust Company Llmlted by Guarnnt•• Independent Examiners Report to the Membors of The Whltllngham Charltabl• Trust Y•ar ended 31 March 2021 I repori to the twstees on my examination of Ihe a¢counts of Thg Vthrtlingham Charitable Tru$t1lhe company.) for the year ended 31 March 2021. vthich are set out on page$ 13to 32. R•sponslbllltl•s and basls of r•port As the trustees ol the company {and also its dtrectors for the purposes of company lawl you are responsSble for the preparation of the accounts In accordance wtth the requlrements of the Companles Act 20C ('the 2006 Acr). Havlng 8alisfied myself that the accounts of the company are not requred to be audited under Part 16 ol the 2006 Act and are ellglble for independent èxamination I report in respact of my examinatson of your charfty's accounts as carfed out under section 145 of the Charitss Ad 2011 1.the 2011 Act'l. In carrylng out my examlnallon I have folk)wed Ihe Diro¢tion$ given by Ihfr Chority Commission under 88Ction 145 {5Xb) of the 2011 Ad, An independent examination does nol invofvo gathen.ng all the evidgnce thal wouhd bg r8quirgd in an audit and ¢onsequenty does not ¢ovw all tho mattgrs that an auditor considgrs Sn giving Ihoir opinvjn on the accounts. The planning and condud of an audit beyorKI the limilod a$$ur8n¢e Ihal an Indgpendenl examinalM)n Can provide. Cons•quonlly, l express DO opinion as to whothar the accounts pr$sont a'lrua and fair viow, 8n¢J my report is bmtted to those specffjc matters Set out in th8 independent •xamino¢8 ststomont. Ind•p•nd•nt •xamln•V• •tat•m• I have ccthpleled ry 8x8mlnaton. I confim) that no m8t8ri81 matters have come lo my attention In conneclion wilh the examination gNlng me reasonable cause to believe that in any material respect.. accounting records were not kept In roV¢t of the ry)nwany as required by $e¢tM)n 386 of th8 2006 A. or the accounts not acwd wh those rermls; or the accounts do not compty wrth the accounting requirements of Jeth'on 396 of the 2006 Act other thon any reQuirnent Ihat the accounts give a Inje and fair view whth is not a mattèr Considered as part of an independent examination; or the a¢¢ounts have not been prepared in acconlance with the m8thcrfJs and prlnciples of the Slat8menl of Recommended Pr8¢tke'. A¢untr.g and Reporting by Charitie$ applicable lo chartles preparlng Ihelr accounts In accordance with the Financial Reporting Standard appllcable In the UK and Ireland {FRS 1021. 11
The Whitllngham Charltable Trust Company Llmlted by Guarante• Statement of Financial Activities (Including Income and expendltur• aceount> Yoar onded 31 March 2021 2021 Unrestrided Rostricted Endowrnent funds funds Totsl funds Totsl fund$ 2020 Not• In¢om• and endowmgnts Donations and legacie5 charitab activities Other trading acifvllles Investment Inco Other Income 9,070 31.365 172,388 34,084 13.245 73,744 187.544 24.747 3,724 289,759 73,744 187,544 24,747 3.724 Tot41 Incom• 289.759 260.152 ExndIture Expenditure on rai81ry funds.. Costs of other trading activltles Investment managament costs 11 Expendlture on charbtable actlvltle8 10 65.586 65,586 104,103 1,774 1,TT4 5.375 12 179.002 22.021 22,021 201,023 182.881 Total •xp•ndltur• 246,362 268,383 292,359 Net galnsl(lossesl c Investments 14 165,106 165,106 167.6211 N•t In¢om•l(•xyndltur•) and not movem•nt In funds 43.397 {22,021 } 165,106 186,482 <99.828) R•conclll•tlon of fvnd$ Total funds brought fotward Total funds carrl•d forward 328.810 659,054 637,033 955.602 1.120.708 1.943.466 2,129,948 2.043,294 372.207 1,943,466 Th• nots9 on p•9•• 15 to 32 p•rt of th•s• financial Stat•m. 13
The Whitlingham Charftable Trust Company Limited by Guarantse ststement of FinancSal Position Year ended 31 March 2021 2021 2020 Flx•d as¥Jets Tangible frxed assets Inva8tment8 17 670,725 18 1.181.386 700,519 1,018,632 1,719.151 1,852.111 Currnnt assets Debtors Investments- COIF eharlty deposlt fund Cash at bank ond In hand 176,089 166,750 80.974 123,506 186,750 98,710 388,966 423.813 Credltorn: amounts falllng du• wlthln on• y• N•t ¢urr•nt a8••t• 21 {145,976) (164.651) 277,837 224.315 2,129,948 N•t a•8•ts 1,943,466 Funds of th• charlty Endovmient fund8 Restricted funds Unrestricted funds.. General funds 08sonated funds Tolol unr•$trlct•d fund• 1.120,708 637.033 955.602 659,054 314,227 57.980 263.828 64.892 372,207 2,129,948 328.810 Totsl ¢harlty lunds 1.943,466 The financial slatemenls have been preparnd In aCrdan¢0 with the provislons applicab to CoVanIa8 8ubject lo tho small comp8nles reglme. The flnan¢lal ststements were approved by the tM)ard of trv$lees and authorlsed for168uo on 20 September 2021 and are swjned on behalf ol the board by: Mr R Bemett Trustee Th• notso on pag•s 15 to 32 forni p¥1 ofthme financial stat•n•nts. 14
The Whltllngham Charitable Trust Company Llmlted by Guarantee Notes to the Financial Statements Year ended 31 March 2021 General IorntIOn The ¢harity ts a wblic benefit entity and a prlvat6 mmpany limiled by guarantea, regi8tared In England arKI Wales and a registered chartty in England and Wales. The address of the registered office is CIO Adepta Limited, Hill Fwm. rbY Road. Kirby B8don, Norwich. NR14 7DU. ErKJland. stst•m•nt of compllance These financ1 stslgmgnts havo en pr&pared i) wnplianc• wrf(h FRS 102, Th8 Flnanclal Reporting Stsndard appllca148 In the UK and the Republlc of Irelanrf, the Statement of Recomrnended Pracllce applicable to ctharrtles preparing thelr accounts in accordance with the Flnancial Reporting Standard applble in the UK and Republc of Irehnd IFRS 102) (Charflies SORP {FRS 102}l and the Corrwanl8s Act 2006. Accountlng pollcl Ba•1• Of pr•par•llon The financlal slatsmonts have be8n prepared on th8 hl8torlc41 cost ba815. The flnanclal slatemonts are prepared in stthng. whkh18 tha functlonal currency of the entty. The Trustges acknowledge the signrfl¢ant uncertainty surroundlng the duration of the Covld-19 naliwal pandemlc on the national eo)nomy and the Trusfs aclmtles. They wlll ¢onlinue to monitor the Impact on the TnMt and Its financial arrangement8, The Trust 81arted the current finandal year In a $trong finCIal posltlon wrth 8 heallhy level of re$erv6s. Th16 is exp1 to 8881st the Trust In doallng wlth the excepUonal cIrM$18rQs of thè present tlme. The Trust also started the year annual budget based on prevlous levels of Income and oxperKliture arKI a medium lemi financial plan. That budget is n(Y obsc4818 gtv8n tha impact of the pandomic, particularfy on c8r pang Inme due lo the dosure ofth8 caf park8 for a perlcJ oftime. The Tw¥1 h88 been monltorfng Its cash flow monthly to ensure that It has sulThdent cash resourGe$ to conllnue lo operale on a day to day basis. The Trust has prepared an emergency budget for th8 year endlng 31 March 2022 in pOnSe lo the Covid-19 pandemlc and has considered rts medium lenn financlal plan for the perK)d at least 12 Th)nths from the date of 8igning the financial ststements. Thg Trustees view at Ihe date ofsigning tho rmon¢1 statements Is that the Trust remaln8 vlable and remains a going concem. 15
The Whitlingham Charitable Trust Company Llmited by Guarantee Not to tha Flnanclal Statemants Year ended 31 March 2021 ounllng pollGIo5 (conhnifv Fund accounting Unraslrfcled lunds are avallable for use at th8 dIScretK of the trustees to further any ol the ¢harty'8 purp)$88. Designated funds ar8 unrestricted fvnds fram)aad by the trustees for parlar future project or commitrnent. The EftdoWnt fijnd rapresents eapital instalments receNed lo provide the pemianent captlal of the charlty and cumuLative Increase in thè market value of the underlying investments. Income eamed from the investmanl of funds ig lo be used to financ d8y lo day running 8nd Continued dovobpment of tt charlty. NJI such income is creditad to thè unreslriclèd gerrnI fund on re¢elpl. Restrtcted funds are created when grarrts, Incom8 and donatlon$ arg r8cgiv8d for a pÈrtlcular purpose, th8 use of which Is reslrfcted io that purpose. The aim and uso of 98ch rgstrictad fund Is set J1 In rK)te 22 to the financlal statements. Restrfcted funds arn subjected lo re8trlcllon8 on their expendllure declared by the donor orthro the lerm8 of an appeal. f811 Into OM of two sulKI88898'. rnstrlcted Income fvnd8 or er)dowmont funds. Incomlng r••ourc•a All Inc4)ming resour8 are induded in the statemgnt of financlal actMll8s when entlllgmont ha8 pa88ed to the charity,. it is probable that the economic benefits assoclated wlth the transadion will flow to th8 charity and the amount can be rellabty me88ured. The foMowlrvJ specffic p)licies are applied to particular calegories of income: Ino)m8 from ¢h8fitsble a11e$, donotions or Grants are re¢ognised en there Is of entitbment to the grfl, re¢eipt ts probable and its amcmjnt can be m8a$ured rellabty. from donated goods Is moasured at the fair value ol tho pood¥ unle88 this 1$ Impractical io measure r91iabty, in which the value darwed frryn thg ¢OSt to the donor or the estimated resale value. Donated facilibfrs and $er¥w5 are r8cogni5ed in the a¢¢ounts when received rf the value can be reliably measured. No amounts are included for the contribution of gorra1 volunteeTr. Inv88tments and other Inc18 are induded *fi8we recepLIe. Income from tradwig activiks Is accounted for when eamed. 16
The Whitlingham Charltable Trust Company Llmlted by Guarantee Notes to the Flnan¢lal Ststom•nts (r( Year ended 31 March 2021 Ac¢ounilng poll¢lM RM¢)ur¢•s •xp•nd•d Expenditure is recognised on an accruals basis as a fiability is in¢x4rred. Expenditure InCdeS any VAT which cannol be fulty recovered. and is da$sWled urvjer headings of the statement of flnancl81 aclti&8 to whth it relates: Expenditure on raising fijnds includes tho c£ts asso¢lth with ant applrcations, managin9 investments and generating donatk)ns and Ony other related costs. Expenditure on charitable activilios Incl88 all c4)sts infwrred by a tharity in undertaking adlvrtle8 that further its charitablg alms for the benèfit ol Its benefftlarigs, indIng those supwt C08ts and costs relating to the govemaneA of the charty apportK)ned to charitable 8ctivitiO8. Olher exporbdrture includ•$ all expondlture that is neiiher relal8d lo ral8lng funds lor Ihe charty nor p8rt of its 8xwndiiure on charitable aclr4ib88. Support (a)sts are alloc4ted befvmn Iho •xpandiluro ¢atogorfo6 ofthg Statement of Financial Activibes on a buis deSned to pn¥ortion ¢08ts withln each headlng. Op•rllng I••A•• L0888 payment8 are recognbsad as an 8xr¢nso over tho loase lem) on a stralghl-fine ba818. Thè aggregate benefft of lease IncenUv8818 reCgnIS•d as a roduclion to expènse over tho laa8• tarrn, on a slraighl-line bas18. Lease Income is r8cognl8ed In Income or expendlture on 8 Stralghl line basls over the lease temi. The aggregate cost of lease Incentives aro rocognlsod a$ a reduction to income over the lea88 lenn on a strah1{ne basis. Costs. indudlng d&pre¢On, Ineurred in earning Ihe 880 Income are recogni38d as an axp¢nse. Any initlal dlre¢t costs inojrred in negotlatlng and arranglng the operating lease are added to the carrying amounl oftho16as6 and reo)gnis8d as an expens8 over Ihe18ase lemi on the same ba818 as th818aso trKom8. Tanglbl• u•ets Tanglble 8888ts are Inilialty rwded at cost. and subsoquontly stated at Cost le88 anyaccumulated depr8ciallon and impaimient losses. Any tsngible assets carried at revalu&J amounls ar8 recorded at the fair value at the date of revaluatK)n less any $ub3equent accumuL8ted depreclatlon and subsequer•t accumulated Impalm)8nt losses. D•pr•clatlon DepreciOn Is calculated so a8 to wrfte off the ¢ost of an le88 Ils residual vakne, over the useful economlc Ime of that as881 as foUow6.' Land and buildings Tractor Mower Fixiures, fittings aThJ gquipment Pawlion and Galor Buggy Toilet block 2% - 5% por annum straight lin 25% per annum reducing bance 25% per annum reducing baiance 25% per annum reduryng balance 10% per annum trah1 line 17
The Whitlingham Charitsble Trust Company Limited by Guarantee Noto5 to the Flnanclal Stat•mants (tonth Year ended 31 March 2021 AKounttng pollclos (wthx Listgd investments are measuwl at tsir value wilh dw)ges In fair value belng re¢ognlsed in income or oxpenditure. Impalrni•nt of flx•d as••t A rovlew for IndF¢ators of Impalmient Fg carrled out at each reporting date. wilh the recoverable amount being esumaled there such Indkalors exl$l. Where the carying value ex¢eeds the recoverable amount, the asset is impaired accordiwty. Pr impain6nts are also revlewed for possible reversal at each reporling dats. For the purposes of impairmenl testing. when rt is not Posslble to e8timat8 the recoverabl8 amount of an indlvldu81 asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset bekngs. The casheneratsng unit is the smallest identifk9ble group of assots that includ85 the 88Set and generates cash in1k) trt largety indendent of the cash Infbows from other 8888ts or groups of assets. Flnanelal In8trum•nts A financlal asset or a flnanclal llabllity Is reo)gnlsed onty when the ¢Wty becx)m98 8 paty to the conlraetual provisions of the instrumont. Ballc flnand81 Instrumants are initialy ro¢ogni88d at ts amount ro¢olvablo or payable induding any r8lal8d trans8Ctlon CA)St$. Current assots and current118billtios are subgequenlly rneasured at th8 Cash other nsiderat)n expo¢ted lo bo paid or recelved arkl not discounted. Whar¢ Investments in shares are publidy traded or their fair value can otherwise be measured roliabty. the Investmonl 1$ $ubwu•ntly measured at fair value th changes in falr value reo)gnised in income and expenditure. Al oth8r such investrnents are sthequently meaBured at Cost kns wnpaim)ent. Flnanclal assets that are measured at cost or amortised cost are reviewed for objective evidence of Impalmienl at the end of eath reporting date. If there is obiectrve evidence of impairment, an Imp81rment loss Is rewnlsed under the appropriate heading in the statement of financial actlvitie$ In whlch the In181 galn was re(xigniged. For all equty instruments regardbss of signfficance, and other financial assets that are Indlvldual 8lgnrfi¢anl. these are assessed individually for Impaim&nt. Other financlal assgts are elthor assewd indlwdually or grouFed on Ihe basls of Simllar credn dsk chaTaclerfstlc5. Any reversals of impaimient are rec(MJni8ed imrnedia181y, to the extent that the reversal does not resum in a carrying amount of the finanaal asset that ex¢eeds %that the ¢anyng amount would have been had the ImpalmnI not previousty been recognlsed. 18
The Whitlingham Charltable Trust Company Llmlted by Guarantee Notes to th• Financial Statements Year ended 31 March 2021 A¢¢ountlng pollcles Judgomonts and key Gourc•s ol ostlrnatlon uncortalnty The preparation of the finanCh statements requires managomont to make ludgernerrts, estimates and assumptions that affact tha amounts r8wrtod. Thesg estimal&s and judgements are continually r9WgW9d afKI arg based on experience arKI other factors, inc4uding expectatk)ns of futura avgnts tlwt aro bglievod to bo reasonab under the circumsLqnces. Critical accounting estimates The Trustees have considered Ihal rK) affnt will be due al yaar end to a supplier with whom they ended Ihe managemanl contract of its car parks on 31 March 2019. Crfll¢al areas ofjudgement The Iwsloes have consNl•red there to bo no ultal areas of judgwnent to disc108e thln the Stal•mgnt of hLcounl Llmlt•d by guarnnto• The Trust Is a charftable company. Im118d ty guaranlee. Every memb8r of the company Is guaranlor and und8rtake$ lo ¢onln"bute lo th8 assets of tho WnP84ny in the event of it being wound up wllh a defit of funds. such as may b8 raquired up to the limlt of Ihoir guar8nto0. Each guaranlo¢s liabllty Is Ilmited to £1. As at 31st March 2021. there wore four such momb8r8: &r Tlmolhy Colman. Jamas Cth)an. ChrIstor Penn tha Broad$ Authority. 19
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2021 Donations and lryaGies Unrestricted Restricted Total Funds Funds Funds 2021 Donatlon• Donations Grants that provkle core lundiry Unrgstrictsd Funds Rostrictgd Total Funds Funds 2020 Donatlons Donations Grants that provide core fundi 3.070 s.000 3.070 6.000 8,070 9.070 Charftabh actlvltl Unrestrl¢tod Totsl Fund• Unr86tr1¢ted Total Funds Funds 2021 Funds 2020 Lotting of propaty Forest schools 73.744 73.744 28.730 2.635 28.730 2.635 73.744 73.744 31.365 31.365 Oth•r tradlng •thltl•• Unrestrlcted Tol•l Funds unffj81rted Total Funds Fund$ 2021 Funds 2020 Car park charge$ Other events 186.544 1.000 186.5M 1.000 171.730 658 171.730 658 187.544 187,544 172,388 172.388 Investment Incomo untes1d Totsl Funds UnrestriGted Total Funds Funds 2021 Funds 2020 Income from listed Investrnents InCrne from cash Inveslments 24.609 138 24.609 138 33.096 33.096 988 24.747 24.747 34.084 34.084
The Whitlingham Charitable Trust Company Limited by Guarante• Notes to the Financlal Statements (¢onthu•d) Year ended 31 March 2021 Other income Unrestri(ed Total Funds Unrestiicted Total Fund8 Funds 2021 Funds 2020 0th8r income 3,724 3.724 13.245 13,245 10. Costs of oth•r tr•dlng actlvftl Unrgstrictsd Funds Rosldcted Total Funds FurKI$ 2021 Costs of other trading actiwties 65.586 65,586 65,586 65,588 Unrestrlcknd Restrlcted Total Funds Funds Funds 2020 Costs of other trading altio$ 103.103 1,000 104.103 103,103 104,103 21
The Whltlingham Charitsble Trust Company Llmltod by Guarant•• Noles to tho Flnan¢lal Slatements (ronthu Year ended 31 March 2021 11. Inv•slmgnt managament costs UnreSIrl8d Total Funds Unrestrictsd Total Funds Funds 2021 Funds 2020 Portfolio managoment Support costs 1,652 122 1.652 122 4.615 4,615 1.774 1.774 5.375 5,375 12. Expèndlturo on charltabl• actlvftlu by actmty and fvnd typ• Unr6$tricl8d Funds Restricted Total Funds Funds 2021 Advice and InfOrMaOn Man8gemant of WCP 12,688 166,314 179.002 12.688 188.335 22.021 22.021 201.023 Unrastrictad Fund6 Resth'cted Total Funds Funds 2020 Advlce and infonnaoon Management ofWCP 47,289 113.571 47,289 135,592 22,021 160.860 22.021 182.881 Wfth effect from 1 April 2020, The Trust er¥Jaged the seNices of HK Countyslde Management, The ¢ost for Ihls is a monthty IL¥ed charge plus quarterly ffixed seNice charges. These charges cover servl¢es Includiw site maintenance. risk assessment. event management, general a¢Jmini$trab'on, adv8rtl$lng and Small project funding.
The Whitlingham Charitable Trust Company Limited by Guarant•• Noies to the Financial Statsments (c9nthMdJ Year ended 31 March 2021 13. Analys1$ ol support ¢o•t• Advice & Management manageffl Trading Inf0MtIon of WCP costs activities Total 2021 Total 2020 Govemanco costs Insurance ProfessionaVl&aal fees Managemenv Admlnlstration char 5,371 1.861 2,662 7,288 10.427 7,639 7,769 72 12,477 12.477 20,862 22,996 12.492 13,055 122 4,523 30.192 59,266 14. gaIn{lO1¥•I1 on Inv•slm•nts Endowment Totsl Fund• Endowmgnl Total Fund8 Funds 2021 Funds 2020 Gainslllosges) on Msied investments 165.106 16S.106 {67.621) (87,621) 15. N•1 Incom•l{•xp•ndltur• Nel incomellaxpondltur8) Is stated after charglng:. 2021 2020 Depreclallon of tsngSble fixed assets Operaling loase rentals Indèpendent gxarninalon fees 29.794 12,470 2,9)0 31.414 12.470 2,900 23
The Whitlingham Charitable Trust Company Limit by Guarantse Notes to the Financial Statements (¢onthMdJ Yoar endod 31 March 2021 16. Trusteea remun•rallon No remunerntion or other bfft$ frrmn empbynI rfth ¢harlty or a related 8ntlty were received by the truslees. 17. TangIb Ilx•d asB•ts Fixiurns. Pavil'on and Tractor- Illtings and Gator Mchver $*3nag8 Buggy Toilet bkxk Land and ildings Tolil Al 1 Aprll 2020 and 31 March 2021 979,113 23,875 31.958 7,427 29,153 1.071.526 D•pr•¢latlon At 1 April 2020 Chawgg for thé y88r 311,878 13,523 26.874 3.428 15,304 371,007 22,021 2.588 1.270 2,915 29.794 At 31 March 2021 333,899 16,111 28.144 4,428 18,219 400,801 C•rrylng amount At 31 March 2021 645,214 667,235 7.764 10.352 3.814 10.934 870,725 At 31 March 2020 3,999 13.849 700,519 All F5xed Ass81$ ar6 hekl for charltsble purposes. The fand occupled by the Tru8t18 subject to tong term lease as per historical agreements. R w88 acquired al no cost.
The Whltllngham Charltable Trust Company Llmlted by Guarantee Not•5 to the Financial S•M•n Year ended 31 March 2021 18. Invostments Fixed asset investments are held at thelr fak value. These falr values are provNJed by Barratt & Cooke $li)ckbroker¥. 2021 2020 Mark•t value At 1 Aprll 2020 985,7 1.084,851 Addltions Dl8posals 176,658 {173,6501 140,104 (171.5441 Rfjall$8d galnsll10688$1 21,878 {776) Unro8118od gakn81(h)) 143 228 1,153,904 985,790 Cash doposits A8 at 31 March 2021 1018632 Market value can be anatysed as lollows.. UK flxed Inlere8168curltle8 184.763 177,498 UK Ilsled 6quities and unil tnJ8ts 808,292 1.153.904 985,790 Cash deFoslts 32.842 1 181386 1018 632 The hlstorkal cosl of investments Can be analys8d as I10." UK fixed Inter6$1 securltles 179.053 175,950 UK listed equltS8s and unlt trusts 630.950 829,618 806.9)0 Cash deposlis 27,482 32.842 857.100 839.742 25
The Whltllngham Charitable Trust Company Llmttod by Guarantse Notes to the Flnancial Statemonts (¢w•thMMdJ Year ended 31 March 2021 19. D•btors 2020 Trade debtors Prepayments aThl accrued income Other debtors 51,349 124,740 3,087 119,292 1,127 176.089 123,SC Wlthln prepaymgnts and accnjed Inc70 of£124,74012020.' £119292). £29.030 relates to accrued Income which has been reduced by a provigion for bad dèbL 20. Inv••tm•nts 2021 2020 COIF deposlt account 166,750 166,750 21. Cr•dltor•: amounts falllng du• Tmlthln on• y••r 2021 2020 Trade credrtors Accruals and daf••d Incomo Other creditors 81,192 86,437 18,347 145,976 88.047 76.102 502 164.651 D8fefTed income relates to 8oathou88 Rent of £nll {2020: £1.676) and Outd(y)r Education Centre of £nil (2020- £3,650). Incorne In advanco.. 2021 2020 Balance at 1 Aprll Amount released to income in the year Amount deforrad in Ihe year 5,326 {5.326) 28,738 (28,7381 5,326 5,326
The Whitlingham Charitsble Trust Company Limited by Guarantee Notes to the Flnanclal Statements (¢¢)nlbxrndJ Year ended 31 March 2021 22. Analy•i# af Gharilabh fun Unrestrlct•d funds Al 1 Apr 2020 Gails and losse5 31 Mar 2021 Irthme Expendnure Transfe General funds Designated funds.. Fixed Assel fvlur8 Spend Donated Assets Wood18nd management Fixèd Ass8t 263,828 289.759 <239.360) 314,227 27,087 27,087 2,999 (1.000) 7,701 26.195 7.701 20.193 (6.002) (246,362) 328,810 289,759 372,207 At 1 Apr2019 Galns and At 10680$ 31 Mar 2020 Income Expendtturn Transfors General ftjnds Flxad Asset fvlure spend Oonaled As$el$ Woodland managamfrnt Flxed As80t 265.650 259,152 {260.974) 263,828 27,087 5,332 27,087 3,999 {1,333) 7,701 33,226 7,701 26,195 17.031) (269,338) 338,996 259.152 328,810 27
The Whitllngham Charltable Trust Company Llmlted by Guarantee Notes to the Financial Stat•m•nts Year ended 31 March 2021 22. Anatysls of charltabh funds General fund The General fund represents surpluses held in reserve to ensure that the continued operalth of the Trust for the iMMlate future 16 r&880nably assured. Fixed Asset lund The Fixed Asset fund has boen ¢reatod to Cover the Mst of major capital Items In¢ludig the toilet blt)ok facillty and the Iractor-mower, the balance of which Is reduced by the annual dopreclatknn targe. Flxed Asset future spend fund The Flxed Asset fvturo spend fund repr858nts lh¢ surpbJ¥ dosignated to 811 captst asset purchases golng forward within Country Park. Donat8d Asset fund The Donated Assellund holds the fa[rvae of8s8ets don8ted In tho year and on wN¢h th8 balance 18 reduced ty the annual doall0Th dwrga. Woodland Management fund The Woodland Managemonl fund represents YK¥Jmo rOCONed from the sa18 of tlmber as a rfysult of the d8aranc6 of woodlaTrJ per the Woodland Management agreement whlch wlll b• usod to fund further works. R••trl¢l•d fund• Galns and k)sse8 31 Mar 2021 1 Apr 2020 Ino)me Exp8ndlture Tran8fer8 Moonngs Visrtor kn11t3 development Orienteering Course Willow Weaving 22.201 (4.064) 16.137 638,386 <17.957) 820.429 397 70 397 70 659,054 (22.021) 637.033 Gains and losses 31 Mor 2020 1 Apr2019 Incorne Expondllure Transfer5 Mooring$ ITlI0r facilities developmenl Orienteering 24.26S 1,000 (5.W) 22,201 656.343 (17,957) 638,38 397 70 397 70 Willow W9aving 681.075 (23,021) 659.054
The Whltllngham Charitable Trust Company Llmlted by Guarantee Notes to th• Flnanclal Statsm•nts (¢0othw Year ended 31 March 2021 22. Analy81s of Gharilabh funds (¢onlkni•dJ Moorings fund The Moorings fvnd IM)kJs funds re¢eNed spe¢ifiGalty fot Iha purposo of ¢onslructing 24 hour moorings within the pa. The fund balanc8 15 reduced by the annual deprecathM charge. Visitor facilities devebpment fund The Visitor fa¢ilities devewnent fund represents grants recep specrfically for the purpose of the contractlon of the Visitors Centre. The fvnd baLqnce is reduced by the annual deprecAatlon charge. Ilow Wgawng fund Thg Imllow Weaving fvnd represents a grant recefved from the "Natlonal Lottery Awards for All" whkh is 8pocrflcalty almod at gnhanclng the skllls of th8 volunl8er8 who undertake cg)nservatlon and ground$ at Whitllngham County Park. Exp8nditure from the funds toward8 the cost of mat8rfals and dg1fv9ry of the project from a spe¢ialisl training provider in the conslruction of willow hurdles and wlllow sculpture. Orlentating Interpretthn fund The Orientats'ng Interprelalion lund r•pros6nts a granl ratthod from South Nomial Councll toward$ the re-installation of oriantatng p08ts and Wbtsrprgting signs around the County Park. Endowment fund The Endowment fund ropresonts bng tèrm capital ol the Trust. Interest 98nerated from knveslments hdd In the Endowynenl fund18 usod for tllo d8y-to48y runnlng costs of the Trust. Endowm•nt fund• Gaths and 1088e8 31 Mar 2021 1 Apr 2020 Income ExpendSture Transfers Pemianent Endowment Furn 955.602 165,106 1,120,708 At 1 Apr2019 Gakns and At sses 31 Mar 2020 In¢on1e Expendlture Tfansfefs Permanent Endowment FurMI 1.023,223 (67,621) 955,602
The Whltllngham Charitable Trust Company Llmlted by Guarantee Notes to the Flnanclal Statsments Year endod 31 March 2021 23. Anatysls of n•t ass•ts b•tween fund$ Unrestricted Restricted Endowment Total Funds Funds FuTrts Funds 2021 Tanglble ass8ts Investments Current assets Creditors less than 1 year N•t ass•ts 34.159 139,130 344,894 (145,976) 372.207 670,725 1.181,386 423,813 1145,976) 2,129,948 1,042,256 78,452 637.033 1,120.708 Unro8trkted Funds Ro8trlctad ErKltywment Total Funds Fund8 Funds 2020 TangSble fixed assets Investments Current assets Creditors195S than 1 year N•t a8s•t8 41,932 121,413 330,116 (164,651) 328,810 658.587 700.519 1,018,632 388.966 1184,651) 1,943,466 897.219 659.054 955,602 24. Op•rntlng loa8• commltm•nts Ai l••s•• Tho lotal fufvre mlnlmum $8 payTh8nts under n¢M-¢anrAlable oporatiry1oas6s ayo a8 followB: 2021 2020 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 12,470 49,880 773,140 12.470 49.880 785.610 835,490 847,960 The land of v1hlIngharn County Park i818ased to the Trust under bng-term leases with annual peppercom ront8. 30
The Whitlingham Charitable Trust Company Limited by Guarantee Not•s to the Financial Statements Year ended 31 March 2021 A• l¢¥sor The total future mlnlmum lease payments rKeivable under non4ancellable operatlng leases aro as follows.. 2021 2020 Nol later than 1 year Later than 1 year and not later than 5 year8 Later than 5 years 15,134 60.536 475.481 15.134 60.536 490,615 566.285 551,151 The oper8ty.ng leases reprent thè 188s8s ftjr the lea88 of land for Vlhitlingham Boathouses FoUrKIOn Ltd (for construction and use of a boathouse) and the lea88 of land for the Outdoor Educalion and Aetivkty Centre. The 18ase8 are negotiated ov8r a t8m of 78 y6ars and 15 years 25. Contlng•nt Ilabllltl•• Durlng the 2019 financ481 yoarlho Tru$l lernilnatad a contract as a result of underperfonnance and hove made a dalm agalnst the contract provider In resp8cI of amounts due to the Trust. In re8pon$o, tho rthrador has madg a counter claim agalnst the Trust for br8ach of contract. The Trust has lak•n apwopri8to legal advice and believe they are In the strong posltlon to defend the clalm. Legal and ¢ommer¢lal dis¢usslons are ongolng and at the cuwent tlme no provlsion h88 bean made In the financial $tstom8nts in respec of the cLglm 8gain8t the Trust as the amount of any transfor of eo)nomi¢ berfrt. if any, e4nnol be measured relably. There Is therefore both Conlngent assel and ¢onlingenl labil'ty in existenca at the date of approval of flnancbal stslements. 26. Flnan¢lal In•lrum•nts Tho following Catewrios of finanraal instsuments are carried in tho balanco sheet Flnan¢l*l a•••ts: 2021 2020 Moa8ured at falr va8 1,153.904 985,790 31
The Whitlingham Charitable Trust Company Llmited by Guarantee Notes to the Financial Statements Year •ndod 31 Mar¢h 2021 27. Capltsl Commitments 2021 2020 CapRal experKlllure on langible assets contra¢led for but Tr)t Prowded In the financial statements 22.250 The capital commitmgnts shown abovg rèlates to contractual obligations to dev8k>p the extemal tOlt for repairs and enhancemerts. 28. R•1•1 partl•s The Broads Authorfty wa8 a momber ol TrL1 and provlded management and admln18tratlon $ervl¢&s throughout the yoor for £nil12020: £41.462) rKharged at cost. Tho balanc• oulslandlng at the year end was £nll {2020'. £9,549). The Broads Authorty provlded a rechargo soThice for wrchase Involcas and ranger $èNSc88 of £nll12020: £126,935). The balance outstanding al the year 8nd was £nil (2020: £4,318). The Trust invoKèd the Broads Authoffty £720 for the lea88 of mtx)rings {2020.' £15.880 for the lease of the Visilor Centre and moorings}. The balan(% outstandlng at th8 y8ar erMI was £720 (2020.. £nll) Ouring the year the Tru8t rented the Flnt Bam from a famty trust )nnected wlth Mr J Cdman. The building rented under a long tem lease {operating ats- nots 241 tsndértem8 negotiated on an arms4ength basis. The rent due during the year was £12.470 (2020.. £12,470). The amount outstandlng al the year end wa8 £nll (2020.. £nM)- Ourlng Ihe year the Tnt re¢efved a donatbon of £1.000 (2020: £nll} from Palnt Out Llmiled, a ¢ompany that Mr J Colman Is tho SO dire¢tor and sharoholder of. 29. Vonta•r contrlbutlon Throughput the year, there were an average of 12 - 15 volunteers dedTrcated 1.500 hours to the Trust (excluding events and school groups). Volunteers have continued to assist in the maintenance and overall improvements arourKI Ihe Park through regular vegetation management, Ititer picking, fijmilure repair and replacemenL InvasNe species ntrol and visual Sit8 inspections. 32
The Whitlingham Charitable Trust Company Limited by Guarantee Managemant Infomiatlon Year ended 31 March 2021 Th• followlng pag•s do not forni ol tho flnanclal stat•m•nts. 33
The Whitlingham Charitable Trust Company Llmitsd by Guardntee DetaSled Statement of Financial Activities Y•ar ended 31 March 2021 2021 2020 Income and endowm•nts Donatlons and legaci•s Donations Grants that provide core furwjing 3,070 6,000 9,070 Charltable actlvlll•s Letting of properly Forest schools 73.744 28,730 2.635 73,744 31.365 Olh•r trodlng •dlvttl Car park ¢harg8s Other ovonts 186.544 171,730 656 187,544 172,388 Inv••tm•nt Incom• Income from Ilsted knveslments Income from cash knveslm8nts 24,609 138 33,096 988 24.747 34.084 Oth•r In¢om• 0th6r Incfjmo 3,724 13,245 Total Incom• 289,759 260.152
The Whitllngham Charltable Trust Company Llmltod by Guarantee D•tall•d Statement of Flnanclal Activities {¢¢)nthMi•47 Year ended 31 March 2021 2021 2020 Ewndltur• Costs of oth•r tradlng a¢tlvltl Support costs Events Car park managmnt tse 4.523 14,726 1,177 88.21)0 61.063 65.586 104,103 Invo8tm•nt manag•mènt Costs Portfolio m8nagem8nt Support Costs 1,652 122 4,615 1,774 5,37S Exp•ndllur• on charltsbb actlvltl•• Oporatingloases Sit• managomonl Sundry Deprecialton Irrecoverable VAT Support costs Mark&ting costs Ranger salarios arKI costs 145.245 60 29,794 30 25.547 47 300 41,462 121 31.414 20.495 43.679 100 45.608 201,023 182,881 Total •xp•ndftur• 268,383 292.359 Nèt galnsl{lo$se5) on Investment8 Gainslllosses) on lisl8d investments 185,106 {67,6211 Nat In¢om•l{•xp•ndttur•l 186.482 (99,828) 35