COMPANY REGISTRATION NUMBER: 02222950 CHARITY REGISTRATION NUMBER: 802711 The Whitlingham Charitable Trust Company Limited by Guarantee Report and Unaudited Financial Statements Year ended 31 March 2022 •A81VAG¢8* 1411212022 CIJMPANIES kK)USE
258
The Whitllngham Charitsble Trust Company Limited by Guaranlee Financial Statements Year ended 31 March 2022 Page Twstees. anrMJal report (incorporaling the diredorfs report) Independent examiners report to the mernbers 11 Statement of finan(aal activities 13 Statement of ffinancial pogtion 14 Notes lo lh8 finan¢ial statements 15 The followlng pages do not form part of the financlal statements Detalled slaternent of ffinancial activities 35
The Whitlingham Charitable Trust Company Limited by Guaranteo Annual Report and Unaudited Financial statements Year ended 31 Mh 2022 R¢fer•nc• and administrative detslls R•glstsrnd ¢h•rity n•mo The Whtdingham Charitable Trust Charity r•9lstration Nrnb•r 802711 Compony rngl$trallon numb•r 022229XI PrSnclpal offic• and roglst•vgd CIO Adepta Mile offiee Hill Farm lfjrby Road Be¢ NR14 7DU England MT J R Colman Mr M Falcon trCPenn R D Hulton Mr N R Savory (ap[tea 1st Ayil 20221 Company secretsry Adepts Limiled Independent Ex4min¢r RSM UK Tax and Umrted enheirn House Nev*m?Fket Road Bury Sl Edmunds Suffdk IIY33 3SB
The Whitllngham Charitsble Tt Company Llmited by Guaranteo Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2022 The trust6e$. vdho ¥re also Ihe director5 for the purposes of company Ibw. •sent their report and Ihe f•)art¢4al statanents ol Ihe charity fof Ihe year ended 31 March 2022. Slru¢ture. g¢Trf•rnanc• •nd manag8 Company Status The Trust is a ¢haritable wnp4ny, &mjled by gu¥antee. Every rnember ol ihe company 1$ a gu¥rantor and undertakes to contribLrte to a55ets ofts company in event of it bng wound upwith a defcil of funds, such artKnts as m8y be requi¢ up to the linil of their guarantee. Each guarantor's liability limrted to £1. At 31 M8r¢h 2022. there were four such ffjembefs: James Colman. Jake Colman, Christopher Penn the Broads Authority. The Whillingham Charitable Tfust holds lokn Ihe issued share capitsl of Whitiin9ham Trading Company Lirnited. a company registered in Englarvj arKJ W810s incorporated on 14th February 2022. The princip81 aclivlty of WThillin9h8m Tradin9 Comwy Limitod is that of a (31é abliShment operatin9 in Rint Bam. The company has t8kers advanlage ol tt exemplion under sedion 399 of the Companies Act 2006 noi to prepare conso&"dated acuunts. on kne basis that the group ol which th¢s is the parent qUlf•eS As a small group. Trte•S The T[tte5 of the charifable cornpony during the yew. are dire¢knts of Ihè comp8nyfor Ihe pwposes of the ComleS Act 20£. Kw.. Mf J R Coknan Mf M Falcon Mr C Penn Mr R D Hutton Mf N R Savory 18pw.nied 151 AKxil 2022} Mr R Bennett Ifesigned 3111 March 2022) None of the IrLtstees except Mr J R Colman and Mr C Penn arn mwnbers ofthe ¢haritstAe cryny. The Broads Aulhority. as the nominating toty, rnay appc4.nt a numbèr ol members to Ihe charitab COTnP8ny and may apwnt up lo Ir trusiees. Other Trustees are app(Mntsd by the member5 in a gwal meeting. The num1 of Trustees shall not be 5$ than five but shall not excee(I n¥. Trusiees meet wularfy and are respons4bte for making deci%ons. TrustèÈ 8ppointrnents are made on the basi5 01 nominations by members in assocolion Ihe Mernor*Klum and Arttctes olAsswatson.
The Whitlingham Charitable Trust Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Dirèctorf5 Report) (cwtthwd) Year ended 31 March 2022 Objective¥ and activit$ The chèrrtabje ecmpany I'the Trusf), a wi5tered charty and company lim.rted by guarnntee. was created lo manage and maint8irn for the benefrt Whillingham CDLmty Park. near Non¥th. Nertolk. The Trusl was es13lshed uThJer a Ilanorandum of Association and is govern8d by its Articles of Association. The Trust was established in 1988 under the ternis of an agreement b•t4¥een Nortolk Colty Counol and the Arminghall SettLMenl Ilandowrws) for the extra¢tion ol gravel from Ihe site. This agreement reqijires Ihe restoralk)n and managementof Ihe site. Frf)slextrxtTh)n, lo providè an len place whgrn put4ic ¢an enjoy qukL paeI PUf5L¥15 a nral enviroMienL The reoralion of the site was the responsibility of the landowners aNJ mRral qJer3tors. FdlMng rastoratknn. land was ased lo the Trust under a bn9-term lease. The onginal Pa infr8$1ruclurè was spead and funded in accordance planniNJ agreemen15 tetsveen Norfolk County CotsnciS and the landovmws. The Trust is responsibk fw the mantenanrE management ofthe a8 as a nty Pa. The Trust CMMerKl Lyration Sn 1992 with the h8ndovw of Tr¢ywge W(Ktrd and Vrt8dow. The uisition of Whiuingham Wood and Whilin9ham Bro&lfollowed in 1994 1996, respects'vely. Whitlingham Litle Broad wras opened lo the put4ic in Au9USt 1997 wilh Whilingham Great Broad follrwrfing in 2004. Minwal extraction and subsequent resto(8ttsJn has be complgled on the area of land and water whKh fc¢ms ltlInghaM County Park. The Trust h85 developed the Country Park in lirte v*lh successive business pn$. A 24-hDur mOlA9 on the River Yarè was established in 2005 and has been used su¢¢e55fuly snee. The Flint Bom vig1 Centre was Mmpleled rn 2006. The Flint Bam is ¥ ft)¢al wnt tr visitcfs lo Ihe Courrtry Path and the Twst has part of the ground flojr to a catering company to provth ¢8fé serwces Io w5tior5. Whillingham Adveniure, an outdwr e(kJeatKJn cth. on the ed9e ol Whiifin9ham Grèat Broad began operating in 2005: il Is 0ed #nd rnaged by Norfdk Council on1and leased from Ihe Trust. ya managementagreement, Ihey area1s0resKlb1e formanaging the water space of the Mo Proads in the County Park. Thi5 educatb)n complex delivers a comprehensive range of 5POrt and adventumus 8clM"bes. espefially fw young peoe. Due lo CovKI-19. Whitlir4ham Adventure was reDpened k> the wblic on 1W May 2021. Land has been leased to WThillngham BoauSeS Foundatw for the nStruct)n by them of 8 w. purpose built lacility for rowing caeIng ch)5e to the liver Yare. The Whillingham Boathouses proiecl was completed in August 2015. 11 has provwjed an OLrtstsnding cornmurity facility for both rowin9 and 8rM1 has alreaty attractèd mofe vi5itcws lo the Park. During the ye¥ under revthv, the Trust ClInued lo rnanage County Park In close co-operation with ils pathers. including Norfolk Cwnty Countil. Thtre is 3 range ofwxess opp(ytuniti8s for visitors ac¥oss the Cointy Park area wth ongoing improvements to the fvaStrCIvts in the fvlwe. L8rge numbers ofpeople continue towsrtWhsJiThJham Counlry Park to eryoy the pepK2fu1 surroundings, th visitors having the opwtunty to enjoy sxtsi¢Je rdaxah.on and exer¢ise. The estimated annual altendance at the Country Park is aboLrt 500.CW Visito a year
The Whitlingham Charitable Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating tho Dlrector's Report) Year ended 31 March 2022 Achi•vem•nts and Perforrn It 15 wn drffrullowrite abothe Twsys achi8vements and perfomwce forthe year end8d 31 Mxh 2022 aganst sh an uncertaln backdrop Created by the 9k)bal parKlemic, CovKI-19. That said, theTrust does not want the ye to pass without recognisin9 the effort5 of many peop who have made the year arnther suttessful one in the hiskny ol the Park. In decSding bth81 tltieS the ch8rity shoukl undertake ihe Trnstees ha kept in the Charity Comnwssi)n's guthn¢e cfj publc benefft. The County Park is cpen lo dl rnembe of the publK and provks a ¥ard landscape lch is rural in chara¢ter and. peaceful. Tr Park supplements thB Cty'$ gr¢8n infraslru¢ture and this rol8 is PTomoted and supported by the laNI owner5 and local authority partner& The netsvork of pathways within the Park is used byjogyers. rambs, famifies aThJ dog wglkws. Main pathways are suitablo for disabled a0$$ wlh further i7)provgThnts ar there is a disV)le parking stheme for blu8 badge hohjers. Th8 Na¢K)nal Cyck 1 fdlows IhThitlingham La)e Ihrwh the Park. Also The Wherryman'5 traveT5es dose to the southem boundary of the pa ccng Norwich to Greal Yarmouth over 8 distsnce of 35 mtrles. The wa areas of the Greal and Lfftle Broads prwde sw for recreation and education. The Park opefates a Visrtor Safety Poliw has been erK1orsed by all partner organisatiorB within thg Park. As part of ensuring safety in the Park. there has been a TeW of all slgnage and steps have been taken to update all sge. NoMch Canoe Club has use of ts Lime 8rood fr)r it5 trainw sessons Boathouse users have direct access the Rwer Yare na901. Nofwich Model Y8¢hl Club meets a week and memb&rs ra Iheir Wdft on the Great Broad. Norfolk Fire & Rescue Servti pract¢es vmter safety training at WhiUlrKJham. dose ¢0 their station at Tro¥. The Park provvjes a popular veThJe for events and education draMrrtJ attendancès from Nomch and the regM?n. However, during the year under roTr&w. events in the Park have been #ffe¢tsd by the continuing need lor Frtjbkc safety dufjng the p3miG. During the ye8r. rt was possible for ¢ertain events to retum to Ihe Park such as the Trialhlon and Ihe Tour ¢J& Broads ¢y¢lTrg event. A number of li¢en$ed fitnèss groups use the Park a5 a venue for a rarKJe of fjjtdoor acbvities although some of these activities have (¥rtw'led the paTrJemic. As well, as Ihe retLtm of some sporb.ng e¥ent5 during the ye8r, the Park tste 0 Farm Sunday in the sumrner of 2021 in assotyatKift lIh Ihe Crown Prynt Eslale. This Vfds a great $yeSS a1 wras eryoyed by a large number of ts. ott1 events have indLFded a Tèddy Bears picnSc for children and families. a Halloween event and outdoor Iheatre pwfoTmarKs in Ihe ruins of Trovlse Cxd Hall. The gras$ areas ¢los to the Fh"nt 88m are mown to a short sward for amenity purposes. conduded fortni9htly Ovér summer months. In certain st)nS of the Park. corservation oblecllves take precedènce and Wb1 aCsS is discouraged forthe brt ofwildlife habitats. The Picnic Mèadow is rnown to a conservat.on Schedu aThJ has a more nalwal wawce. Hay r'rj is urrtaken in parts of the Pa to encourage the growth of wild floT5.
The Whillingham Charitable Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2022 Tree works within the Park ¥e conducted by trn staff supplemente(I by contractors as scale and type of dirtates in line %Mih the adopted tree pc4ry. In the last 3 yèars, about 2,500 trees have been planted with plans lo plant mfft in the futLffe. Roadside Iree 7hrlt and essenlHI thinning were caffd out in Whiuingham Trowse Woods 85 of Ihe Itsng tem man8gemenl plan. A tree survey has identified fellitvJ and maintenance OFeralK in vrtler of wioiity laking inlo consK1erallon hèalth and safety problems, bmldlrfe hthtats, hi810r impcrtnce and landscape YUe. Some urgent tree Works re led o¢Jt f01thj the iwt of sto EUe. Thys yearfs rna1ntenae progranwne inclLwJed signiknnt cOpping around the Great Brts. This has had the benefit ofopening up vmvs across the walei lo hJhl)ght the Parts thitural beauty. A set of new steps hos been 11 t in Ihe wcods nvar to the ohd lime 1n to pmvide better access. Thè P¥k has also seen ne4Y athjitions lo its fall11eS in Ihe year. The first is Ihe new toilet facility in the Flint Bam car part( which replaced the old out%de lets. The project was completed in the summer of 2021 to a design and staThJard that is IT keepmg wrth the Trusys objectives. The new facility TepTesenttrJ a significant cost to ihe Tnjst but was uynpltrted on buthJet. seThd 8%SYilKJn was the installalion of rw play equipment, the log jumble. to reF4ace Ihe old pw %therry in the picnk are8. As in previous years the Fmgh visitoy number5. 5ectiorbS of the lootpaths have become wom. Work to irnprtsve Ihe palhs ¥ound Gr•al BroaLI will COntir in 2022 followirfj a $ucossful appli¢alion for grant fiJnding. The Park's volunteefs ¢Olltinue to mae a v8luable contribjtion to the Country Port. volunteers continue to use their Iraining in mowing. brush cult1. driwng and the wctyJd chlpper to 8ssisI them to help maintain Ihe Park. independendy and along&de Ihe management company. Volunteefs gave 3,715 houfs to the Park in 2021122 and have a5SiSted wrfh sile check5: vegelation m8n8gement.' fumilure pairS,. invaswe contrc4: litter pi¢kin9. engaging wrth the public and tlay to day mainterkance. Addrtional volunw hours rè by students from Cty College and Easton College. Support from other w%tirKJ groups was re.introdLsced during the yearv#hen it wasjudged safe lo do so. The Trustees wodd like to record their appreciation of all wort the votuntows as Mih their 9fforts. the Park clte5 to be a beaut.fvl environrnent frx ¥isitors. Under the agreemeni beb%ten Ihelondownets t4KI the Tnk%L tr Twst has been el¥edwth a capital sum of £553,000 received by instalments, the final being receNed in 1999. The Trust has invested Ihls to assisi in furKJing annu81 m8inten8n¢e and admiThslration costs of the Pwk. Funding ts r¢qvired tu finance er development of amenities and fxilities and their subsequent mainlenance to cope vrilh the irKreased nurnbe(s $"n9 the Park. Grant funding Icf thi5 purpose has been obtained Igh enrdment 85 an emronmental urNJei Landfill Tax regulab"ons. This funding 15 described in Ihe fin¥rtia rl¢W over the pw. The Trust also seeks fvrlher grant aid and the genefalion of income from ¢ar p8rt(iThJ for Ihis purpjse. Our r•spons• to Covid-19 As you expt. cr response lo Covi&19 has been a rnajor matter for the Trustee$ since the impact of the pandemic began lo rn8nifesl tself ea in 2020. The fTLtsVs first piiority was for the safety of ils visilofs. volunteers and contrxtor5. We readed qui¢kty to the UK Govemrnenl'5 gukdelines at the
The Whitlingham Charitable Trust Company Llmiled by Guarantee Trustees. Annual Report (InGorporating the Dire¢torfs Report) f¢onttrue41 Year ended 31 Mah 2022 stsrt of Ihe locdthvn period orbj dosed a numberof cwf¥c¥lities. in¢luding the Flint Barn d tre car pks. Atthè same time. ihe Tnjstees recognised that the Pk wJid wovKle an imFOrt8nt lrfeltne to memters of the publ ty remaining open enabling ts.me to be spenl OLrtdcors a place for exerwe and relaxation. During Ihe pericls of naInB1 locktjo1 8TrJ subsequentrrf, Ihe Path has been extremety busy whith demonstrates its value to the publk in wovidln9 an errironmenl in which people can enjoy themselves and get away from the stresse5 and caused by V•ith the pan(1emi The Trustees are enom)ously gralefrJl to its new management company. HK CoLmtygde Management mited. the volunteers and other contr&iors have worked so hard to keep the Part open and safe Jring this very challenging period. Reserves poli¢y It is the ¥nlention olthe Tnjslees th8tthe treety av•l8ble resee5 ofthe Tru8t should be bull up to. and malntained at. a knl whkh is slrtrtit to ersure the ry)nlinuatwM oltl Twst's adiviies. Freely aVaIe resenrts are unreslridad fvnds vthK* are not commthd lo (Y invested tan9bl8 fixed assets. In deleminlng an appropria level of reserves the Twstees hove regard to 4 number ol matters whlch indude.. 1. Forecasts of ejpenditure on the basis of pkanned actimty. In fubJre yeats l is antKapated thal management and rnt¢nartt of COUW Park is like lo irueose dLte to age an(J Int5 of use. 2. The requirement for day to day wothing caFitaL 3. Income risk whtth woukl irtlude the divetsity of sources ol in¢orne. the rdiability ol income sources, prosFect5 for devebpin9 new sour$ of income and an a55e55menl M thé 8de awdilable of the likelihoc#J of e8¢h of these varying and the potenlitil impa¢1 on the Twst of not being ab to deo1 with sh ftucluati)ns. 4. Analysis of luture risks and contingencies which woukl be unlikety to be met cyjl of regular incom8. 5. Funds wll be require(1 to replxe fixed assets. After considefakn'on of the a)ve the Trytslees have dectrded that an aFyrcyriate level of free reseNes is approximate hvelve nThJnths' norma gxpendilure lo grow in line with planned expenditure. At 31 March 2022. Un$tried f reserves were £373.220 which Èquat8S lo approximstely tsyelve months ol annual urt$.¢1ed ÈxFendilure. The Fixed Asset fund of £14.726 has been tjesigned to cover the purchases and inst811ath.on costs ol the toilet block tractor mower and first phase of the signage replacernent. The reserves for firture capital spend srts at £27.087. Th15 perlod assurnes the continvance of grdnts and donaoons for restricted purposes expendtUre whth. rf such in¢ome tre to ¢Jecrease. could resurt in the period being much shorter. The reserves policy is Subject to regular revivw by Ihe Trustees.
The Whitlingham Charltable Trust Company Limiled by Guarantee Truslees. Annual Report (Incorporating the Dlre¢torfs Report) (corfuiur4J Year ended 31 March 2022 Investmert wers. pollcy & perform¢ The charitable company's wticle5 of assttiation. whth 9wes w•Je PcTs of investment. govern the Truslees, inve5trnent powers. The Trustees. policy is, after receivTng Suitable advice. to invest in li$led se¢uriles on the London Stock Exchan9e and sirKe July 2016 has rastrtcted its investrnent into tobacco cornpanies and those eompanies th may Fotentially damage the Ictal areas lo the County P8rk as well as diversi.n9 ils portfolio to indude irwestrnent tn blue chip global equiiw. The inveslment obJecttves are to maintain income at a re8S(x)3blè levd. vthilst yeserving the real value of erthwed fijncts. and to maxbmise income on temporarity inveed Unrestrict and Testrtcted funds. The chwty'$ investments have continwj lo be managed In conftymty wrth our pc&cy. The Income lum on Ihe average cost of inVeSthnts for Ihe year was approximately 3.15%12021..2.90•AI, which the Trustge$ ¢onsider to be sai$fact Flnan¢ial weview The balanee ol the •rndo% capitsl fvnd at 31 Marth 2022 of £1.202.522 represents the ¢apital inslatrnents received of £553.(MJ). plus the cumul8lNe Inmsè in th& mathet value of the undertying investments 01 £649.522. The net change in the market value of invesbnenls for the year was an increase of £81.814. The TnJstee5. having unLlert8ken a rewew in the year. now operate 8n ethically geared polw on its inveslments. The investrnent portldio will continue to be managed to provide long term growth and to maximise irwne w7thoul undue risk. However. in wew of Cunt wrrld events. the oulook in Ihe cent year for satisfactory inve5tmeni performance continues lo be wcwf8in. both in tenns of mthet Value and ints)me retum. The Trust is enrolled with ENTRUST as an envnmentsl undwthe LarHJfifi Tax re9ul8tions. The Trust ha5 pre¥wJusty reGeivEd gFant fvnding Ythich resUtW in the Oning of the Flinl Barn. ENTRUST lations fequire rts interest to be registered. and as at 31 March 2022 Ihe $trIcted funds balance was £802.472. Unreslitted incow lo the genefal fvnd foi the year of £JJ9,674 seThts investment income. car park inccffie arhl unrestricted grants and ¢)nations for applKation to the geneial Nnning 3nd a(Srninistrab"fm costs of the TrusL Unrestricted ewdrture in Ihe year of £295.681 on maintengnce and management of the Park gra1 adminrstrabm has been charged agalnst thls Income. The balare of the gen¢fal fund carried forward of £373.220 wll be required for increasing future rnaintenance 8nd management costs.
The Whitlingham Charitable Trust Company Limited by Guarantee Trustees. Annual Roport (Incorporating the Director's Report) itorthwdj Year ended 31 March 2022 Risk hlanagemert The Trustee5 undertake a periodic review of major strategic. iwTrss and opgratk)nal risks facing the charity. This 45 etstuated Ihrou9h a Risk Register bywhich the Trusiees can i(nbfy and assess each category of rbsk which could wtenlKqty leoparde the business. the Trust's key obAlIveS the vray it cperates. Rlsks Idtffi9d and measured ¢)n thelr Fffobability aryj imp8ci ty severity using a Sca of 1 to 3 10 ¥5certain a risk lolerdnrR level. The aim És to manage all risks lo as k)w a lolprance level as reasona practicable by inirodLthin of mrti981ion measures which rev lo erkswe that Ihe systems in pLacè to manage the risk are robust and reasonab. At the time of Ihe last revw. the Twsl has Klentifte(l arKI ¢onsklered a numbèr of rfsks to be atove Ihe acceptable lolerarte k¥81. These ¥e ouuined and mitsJaled as fdlthvs.. The non-availabdtylkJs$ of Ihe Whilingham Chair. m8mbèrs. Dire¢tors and Company Secretary. In thi5 eventtheArtKJes ofA5xoab"on 9oms #Ie rAocedures to te pul in pLqc8 for rK)min8tirMJ new memter5. A vice-chaimn role ha5 also been introduced In delegalion for the Chair in hi5 absence. .&gnificant loss of irKcrne as 8 Ult of a reductKJn in the value of investrnents. ltrhtr eor parking wenue and h)ss oftenant. The Trust's investments we remewed by the Inve5trnent suOltte9 regularly and a disuetwry Service is in place the Tru$t's investmenl managers albwing Ihem to trade se¢urities in the portFdio cordingly. Thè eontrael proMsti)n for the mamgement of the car ps has been changed and a new arangement is ift place for ca5Nes5 payments. Ineffecuve ngement wlth key pwIneIstakeh0ers7hfilth could break1$ key on issugs affeth'ng the Park and ..e5uh in Ihe failure to deliver ObjecteS, loss ol income and opportunities. The Tnjst endeavours to maintain an t¥Jen and tTartsp¥ent ielaborship b%ilh ksy partnorslstakehoklers. Key partners such as staff frorn SM)IYingham Adventure 8ttend Trust meetings in order lo keep abreast ol ongoing issues. The dealh or serths injury to volunteers and contractors lch eould lead to loss of expertise. loss of creditj.lity the putJieJslakeholders and potenkn'al legal acilon agaisl Trust. Heath safety procedures and pdiGie$ are alre in place to counler and prevent SLKh risks from arisirtg. RegLr risk assessments are carried out to ensure the safety of SUrrndS 8s well as iNJMdu aThJ vknwe require(I hea and safety tra19 is prowded loo. Conh"nuous safety audits and ongoing mainten8n¢# F¥me5 fcrkn)L8 and 1pment also ere mirimigng potentr"81 hazawds. The death or serious injury to a member of ihe publ whth Could re$uh In CMI or crimlnal action agalngt the Trust. potential dosure of the Park. legal costs #nd fines, 105$ of credi.11tylrepLAat10n the pU1C and atso higher InsUrar premiLmS. RiuKJrous policies and plS we in place lo o)ver hazards presented for bolh land an¢J water thrgh a Vlsitor Safety managemenl an vthich 15 also published. FUrtherOre. rtrgular srte inspections of lurn11u. faulib"s and annual tree suThey5 in aojitn lo the avdit 8nd revtew ol signage and public res¢ve equipmenl a condu¢te(J as p8rt of the site safety system in placelor the Park.
The Whitlingham Charitable Trust Company Llmited by Guarantee Trustees. Annual Report (Incorporaling the Directofs Report) fcontwiuvd) Year ended 31 March 2022 Going Comc•rn The Trustees aCknedge uncertainty surroundin9 the national economy and the Trust's acts'viti•s. They Y¥ill Continue lo monrtor the impact ky) the Twsl 8nd its finanaal arranyemenls_ The frust has been monitoriThJ its cash flow monthly to ensure that rt has suffi¢ient cash resources to . continue to operate on a day to day basis. The Trust has prepared bLSJet tr the year ending 31 March 2023 and has considered its medium t finarrial plan foT Ihe period al tht 12 month5 from the dale ol si9ning ihe finarA81 stslements. The TnJstees vtew al the date ol &gnirrtJ the finanrial stalerrMis is Ihal the Trusi MainS viable and remains a gng concem. ans for Futur• Periods The Trust remains cornmitted to delNerin9 its co PLFrpose of p"dIng a of qut enjOertt f it5 Vlsitors. Over Ihe next le+¥ Yea the Tntst and the landowner are Ixjking to imwove tsolities within the County Park. As part of Ihis. proje¢ts are being identified and pricrfilised using informats'on from the visitor suNey to take foThYard a5 fvnding becomes available. Whidingharn Trading Crynpany Limited was Inccp0raIed on 14* Febwary 2022 wth The Trust as the sde sharetrKJlder. This trading wmpany has been sel up in order t¢ operate Flint Barn as café and began to trade on 1st April 2022. The tradry company will continue to pay rent lo The Trust 31 the same rale as prevK)us tenants but intends to the donate profits to The Trn51 rm an annual basis Evenl PTogrammes will 8lso run IF¥ou&h the year and wsu offer educats.on and other b¥1.eS as it ¢ontinues lo develop. The Trustees are all looking lor¥rdrd to the futUQ With enthusiasm.
The Whitlingham Charitsble Trust Company Llmlted by Guar8nl•¢ Trustees. Annual Roport (Incorporatlng the Dlreetorfs Report) Year ended 31 March 2022 Trnst••s' responslbilltles stst•ment The Iru5tees, who are $0 d1CtorS for lh• purposes ofcvmpany arn responsible for preparing 1he trustees, ieport and Ihe financial siaiements in accnrdance th appluble law and United Kwt9dom Accounting Standards (Uniled Ktrwdom Generalty Accepted Accounling Pracbce). Company W requires the chanty InJstee5 to pp8 firban¢ial statements for eath year whth give a tllJ9 anrf lair ol th8 state ol affair5 of the twlable cornpaThy and the 1mj resour and appratIon of resourtes. Induding the income and expendth. foy Ihat peliod. In wepariy these finanual slatements. thè tntstees are tsquired to.. selec¢ suitable a(tounlirvJ pdie5 aJyJ Ihen appty thpm consist8nity.' observe the meif>)ds and principles in the appltabte C&$ SORP.. make judgryents and a¢countin9 estilnales thal are leasb]e and prudènt.. prepare Ihe financial statements thè going concem basis unless it is InaForopriate to presume that the chanty will continue in t¥Js1SS. Th¢ trystee8 are responsib for keepi athquale xcountiThJ rerdS thal are suffKient to show and exain the ¢h8riWs tr8nsaction$ aThJ discbse th reasonable acwracy at any tirne the financial position of the chanty and eTrab them to ensure Ihat the financAI statements Comp wth the Companies Aci 2006. They are also Tesponsible for salegvarding the assets of the charity and herKe laking réasonable steps for the prevention and delection of fraud and omer irrewlarrties. The trusteès. annual report and the rewtwerè approved onal IL•iknnd svJn•d on behaff of IkP bo*d of trustees by: Mr N Savory Truste6 10
The Whitllngham Charltable Trust Company Limited by Guaranteè Independenl Examlners Report to tho Trustees of Tho Whillingham Charttable Trust Year ended 31 March 2022 I report lo Ihe Iruslees on my examSnalion of Ivé financial statements of Wh1haM Charitable Trusl I'lhe company'l for the year en¢Jed 31 Mah 2022. e sel out on pages 13 to 33. Resporr4lbillll•s and basi$ of r•port As the trustees of the company (ar¥J akn rts dire¢tors for the purposes of company lawl ar8 responsible for the preparatton of the finar statements in arxordance with Ihe reqLiroments ol the Companies Act 20061'the 2C4)6 A¢fl. .Han9 sath"sfie¢ rnyseltthat the ststwnenls 0flhecomp8nya nolfequiod io bè audited Part 16 of the 2006 Act and ale elffJib for independenl examinalicsn I reptsrt in rgspecl of my examination ol your ¢hartys fnanual statement5 as came(l out u¥er sèction 145 of Ihe Charities A 20111.lhe 2011 Act'l. In carrying out my exwnination I have foNch¥ed the Directions gNen by the Chanty Commlsskn under section 145 {5Xb) of the 2011 ACL . An independent examina) does not invdve gathen.ng all thè evidènce that wwld bè required in an au¢Jii and consewenly does not cover all the rnatreis thai an audltor oy)slders In glvlng their opinion on the finawal statem¢nts. The pLanning and cOTrJl of an audit goes beyond the linited assuranr . thai an independent examina can wowde. corvenIty. l express no opin a5 to whether the financkil stalernents present a 'true and wew, and my report is INnited to those SpeCrt rnatters set cwt in the fKIgPWrtlenl exami$ stmenL Independent exarnin•rf3 statement sin the company's gross Ircne exceeded £250.000 your examiner must be a merthr of a bc listed in section 145 of the 2011 Act. I cefiM1 that l am qualifièd to undertakè the Èx8mirtaiK)n because l am a member ol Th8 Institute of Ch¥rtwed Accounlants in EryJland Wales, wtrsich is one of tho lisled bdi&s. I have cy)mpleled my exarnination. I crnfinn that no material matter5 h8ve corne lo my attention in cornection wth the examinathon giving Me reasonable cause to betieve that in any material respecl.. accounting records were nol kepl in resfft ol the cc#mpary as required by section 386 of the 2Q)6.AcL' or the financial statement5 do nol accord wth those record5" or the financk?I ststements do not compty wilh the nIng requirements of section 396 of Ihe 2006 Ad other than any reqvirerrent that Ihe accounts give a In aThJ f•"r which is a matter consid8red as part of an indendent examination., or the finanoal slatemenis have not been prepared in aceorfancewith the methods and prinCipS of the Ststernent of Recommended Practice.. Accwnting and Reporfing by Charitie5 applicabl to charitS preparing thr accounts n 8LccYdance t the Financial Reporting stsndard aFPlIcab in the UK anJ ILAnd IFRS 102). 11
The Whitlingham Charitable Trust Company Limited by Guarantee Independenl Examiners Report to the Trustees of The Whitlingham Charltable Trust Year ended 31 March 2022 I have no concerns and have come no Oiher marters in c0nnKUC wlh the examinats'on lo which attention should be drawn in this report in order to enab a proper UrKIendi9 ol the finan¢ial staterrenls to be Che1J. Claira SLrthgrtan4 N8me'. clai Sutr*rfand N8m8 ol applicablè listad body.. The Instilute of Chwtered Aeclxmtsnts in Ertyla and Wales Rebvant profvsswjnal qualifv3tton ty mernb¢rship of professiml btyly.. Ch•tsro4 Accountsnt On of RSM UK Tax aThJ Acew"ftg Lwnit&J Chartered accDuntsnts Blenheim House Newmarket Road Bury St Edmunds Suffolk IP33 3S8 09112122 12
The Whitlingharn Charitable Trust Company Lim6ted by Guarantee Statement of Financial Activities (including income and expendlture account) Year ended 31 March 2022 2022 unSICted Re5trthd Endtrwment nds funds Totsl lunds Toiai funds 2021 In¢orne and •nd¢wments Don81ions and kgacie5 Charitsble activit Other trading acliwthes Inve51menl inccrte Other irrne 1,500 93.214 225,588 27.690 51.6K2 21. 93,214 225,S98 27.64) 51.682 73,744 187,544 24.747 3.724 Total income 399.674 20,OfXI 419.674 289,759 Expendlture EKpenditV on fai$ir4J fur.. Costs of olher trading 8Ctiwlies Investment managernent costs 11 ExpenditLwe on Gharliable acleS 10 89.SM 65.S86 6,228 6228 1.774 12 22.021 228.080 201,023 . Total •xpendlture )1.791 22.021 323.812 268.383 Net galns on Invpstrnents 14 81.814 81,814 165,106 N¢t Incomgllexpenditurel and n•t mov•ment in funds 97.883 12.0211 81.814 177.676 786,482 Reconciliation of funds Total funds brDught forward To¢01 funds carried forward 372.207 470.090 637.033 1.120.708 2.129,948 1.943.466 635.012 1.202.522 2.307.624 2.129,948 The n4>t¢s on pag¢$ 15 to 33 lorm p•rt of thestr finonriat stateiiients. 13
The Whltllngham Charitable Trust Company Llmiied ty Guarantee Statsm•nt of Flnan¢l41 Posillon Year ended 31 March 2022 2022 2021 Flxed ass•ts Tartgde fixed assets Snveslments 17 708.338 18 1.256.847 670.725 1.181,386 1.965.185 1.852,111 Current a49¢ts Debtors Investments- COIF charity deposrt" fvr Cash al bank arKI in haTrJ 19 206.046 166.750 108,101 480,897 176.089 166.750 80.974 423.813 Cfedltors: amounts lalllng du• lthln OMI year N•t current ass•ts 21 (138.458? 114S.976} 342.439 227,837 N•t a#sets 2.307,624 2,129,948 Funds of lh¢ Gharlty Endowmènt lur Restricterj funds UMS(rled funds: Genèral funds Desigftated fvnds Total unrestrlct•d funds 1.202.522 635,012 1,120.708 637,033 306,471 163,619 314,227 57.980 470.os 372,207 2.129.948 Total charsty lunds 2,307.624 The Financial SlateTrnt5 have been prepared in aCcOrdt tmih the pruvisions appbcable to ¢ornparues 5ubpcl lo tho 6mall wrne. For the financial year en¢d 31 March 2022 Ihe c¢Jnpany was enlitsd to exenylk)n from audff¢ under 477 ofthè Conwanies Ad 20C6 relating to small companres. Th¢ mÈrnbers ve not tr company lo rtlain an wJdf( ol its finarI staternts for the year in question in accordan 1th seCtiC 476. e financial slatements approved by the bowd of trustees aulhorised for tssu¢ on .?aLW...o are swed on behaw of Ihe ttyjard by: Mr N Savory TTUSt¢ Th¢ OA P•9È8 1510 33forni part ofthe5• st*merbts. 14
The Whitlingham Charitable Trust Company Llmited by Guarantee Notes to the Flnancial Statements Year ended 31 March 2022 General InfomMtl¢n The charty is a public benefft ety aThJ a wivate company limited by guarantee, registered In England and Wales and a registered charity in ErNland and Wak$. The add$ of the register Offi is CIO Adepta Limited. Hill Fami. Kvby Road. Kirby 8edon. NoNch. NR14 7DU. England. Statement ol Gompllanc• These fJn8nual statements have been Prepared in 0>)Mnce ith FRS 102. The FIncIal ReportiTrJ Standard applicable in the UK and the RepulAic of Irend.. Ihe Statement of Recommended Practice SP[¢8b ¢harilies tx8parirvJ thr accounts in aceordanee wrth the Financial ReportiThJ Standard applicable in 1he UK and Republ of Ireland IFRS 102) ICharitS8s SORP IFRS 10211 and the Companies Act 2Cth8. A¢TrtIng polklos Ba9 of pr•paratlon The financial statements have been prepared under the historic81 cost convention. rn0drfd to indude inv•$tmènls ¢ertain financial instrumwts 81 tsir valu$ The finan¢ia statement5 aré pptred in slerfirvJ. which is tr fvrKtN)nal currerty of tt enltty. Whiilingham Trading Ccfflpany Limited was incoyporatgj cfj 14 February 2022 with The Tnjst as Ihe sole shartholder. This trading company has been sel up in order lo operale Flinl Bam as café and began to trade on 1* April 2022. The trading company 11 continue to pay rent lo The Trust at the rate as pwous tenwts but Ind$ lo dortate profits to The Twst annu81 basis. The company taken advantage of Ihe exemplioft undersectton 399oflhe Compantes Act 2006 not to prepar8 consdbJaled acuunts, on the bass that the group of whh this FS the parent qUalifS as a small group. The ffinancial statemts present inftsmation 8t(Jul Ihe company as an individual entity and not #b its group. 15
The Whltlingham Charltable Trust Company Llmited by Guarantee Notes to the Flnancial Statements Year ended 31 March 2022 Accoundng pollcle5 f¢oni Golr¥J concern The Trustees a¢krnvAedge the sYJnrf¢ant un¢erlaii)ty sufftjunding the nalDnal ets)nomy and the Trust'$ admties. They wll ¢onb"nue lo monitor Ihe ry8Ct on the Tntst and f8181 angemenls. The Trust has monitoring ltswhllowmonlhtyto ensurè that bthas yJffiaentGa5h te50urres to continue to operate on a day to thy bask8. The Trust has prepared bu&Jei for Ihe year endin9 31 March 2023 and has consmlued ils medium term financial plan for ihe per¥)d at toast 12 monihs from the date of &gnirrtJ the finanoal slants. Whilingham Tra(thng C(Mnpany rnited was wrporated on 14 Fetary 2022 •th The Trust as the sole shareholder. This trading company has been set up in orderto opere Hint Bam as café and began lo tr1¥ on 151 April 2022. The tradff company will u)ntinue to pay rent io The Trust al the 5Bme 1? as wevi)us lenants but intends to the donats profits to The Trust on an annual baws. The Trustees view * the date of wing the firbancial slalements is that the TDJSt remai viab and remains a going concern. Fund Kcowrtlng unStriC1ed funds a¥aatIO kn use al ts discreti of the trustees to further any of the tharity'$ purposes. Ownated d5 are unre$lrthd fumts e8M8rked by the Jrust•es lor pwticubr project or commlbmenl. The EnO)wment fund presS ¢aprtal instalments re¢eived to provide Ihe pemanent e8Pital of the charity and the cvmulative increase in Ihe rnathet value of the undetyirwj investrnents. Income eamed from Ihe investment of thèse funds is to be used to finance Ihe day lo day running and ¢ontinued dèvdqxwit of ts ctrffj. 1 wch incryne is cTrJiled to th• vrvesin'cted general lund on receipt. Restn'cted furn1$ are Created when grants. COrne aryj dcthtions are received f(Y a p8rt4¢ul8r purpose, the use of Ythich is trIcted to Ihatwrwse. The aim and use of each restricted fund is Sèi out in tK)10 22 to the financial slaternents. Restricted funds are SLt¥eelj 10 restrK"onsrM Ihey expendre declared by the ijonor orthro(ryh the term5 of an appeal. and fall inlo of Nyo SasSeS". restricted Irome fijnds oreThJowment funds. 16
The Whitlingham Charitable Trust Company Limited by Guarantee Notes lo the Flnanclal Statements (¢ortthy Year ended 31 March 2022 A¢¢ountin9 polkl•s (¢tintsJue Incoming Yesour¢es All incoming resources a inctuded in the ststement of ffftanaal aclm.los when eniillttmenl has passed to the th¥rity: it is probable that the eGoncKnic fits associatsd wrfh Ihe Iran58Ction w711 ow lo the charity and the amount can be relHbSy mfyaswgd. Th8 fdlowsr¥J $ifiC poh'¢i85 are apie1 to parlicular categories of Incne.. Irme from charitsbkn activitses. donations or gtants are renised vthen Ih8re Is ofenb"tlement to the gft. receipt is probable and its amount Can be rneasLd reliably. Income from donated gotrjs 15 measured at thè lair value of the unl8ss this is imkyaclical to meayjre relK8trAy. in wknich case the Ve is derived from the c05110 the donor or the estimated resale valve. Donated fa¢ilib"¢s and servlces a reco9rused In Ihe ounts when received if the value can btr feliably ffleasu. No amwnts are includ&J lor the ntn'bulion of general vojuntew5. Strnnts and other income aT8 induded where rEceivable. IrKome from trading acliwlE5 is accounted fty when ew1. Resour$ experKI ExFenditure is e09n15¢ tsn an accnds basis as a liablity is Kurred. Expendilure in¢deS any VAT which cannot be fully recovered, ar Basd under headirgs ofthe statsmenl offinanaal arliwli85 to whith tt rdates". Expenditure on rain9 funds indudes the costs assocth¢J V•ith ¥8nl appltitty?n$. managing inv8stmants and 9(al"n9 don•tions and any ¢)Iher related costs. ExtndittJre on charithe inckJde$ all cosis irKuffed by a charity In undertaklng acbwlies thal further its charitsbkn oims fry the nefi1 of its benèfi¢iar?es, includ9 thcL suFport costs and costs rÈLgh"ng to the governance of the charity aFForlioned to chwitable actim'iies. Support costs are allocated bet**en the ewenditure catewjries of Stalerneni of Financial Actrv1tS on a basis designe(J to [ryOrtn costs ¥•ithin exh heading. 17
The Whitllngham Charitable Trust Company Limited by Guarantee Notes to the Financial Statements (cofit&iw Year ended 31 March 2022 A¢¢ountlng policles Operating •5•8 Lease paymenls we 1)gnISed as an exFense over the lease temi on 8 stralghl-line basis. The agaregale benefit ol lease ineèntwès is reecgnised as a reduction lo expense over the lease tem. 8 $trai9ht-line basi5. Lease inrne Is recogntsed in income or expendittJrE on a straight line basis over the lease lemi. The aggregate c05t of lease incenlives are recognised as a reducb.on to income over the lease lem on a slrawjht-line Costs, induding deweclatn, incuThed in earnin9 the ase Income are recognised as an expense. Any initial dIt costs incurred in wotiating and arranging the operatin9 lease ale 8dded to the caryng amountol the ase and recognised 88 an expense 0r the lease temb on Ihe 5arne basis as the lease ¥Kome. TgIble assets TangitAe asseis are initialty reccffded atcosL and SAJbseqnty $tatedat cost lèssany accumulated depreoation and impaimient losses. Any langible assets carried al revalued amounts are rerded at the fair value at the date ol revaKJabon kss any subsequent a¢¢urnulale¢J depreciation and subseqLni ¥¢cumulatsd Mnpaimient losses. DèwKi•tlon Oewecialion is C141¢ so as lo ¥bTrte off the cost Of an asseL its re$Val value. ovw Ihè useful economK life of that asset as follows.. Land and buildir Tractor Mower Fixlures. ffittin9$ equipment Pavilion and Gat¢x Bu99y Tcilel blrxk 2%- 5% perannum strawJht fine 25% per annum re¢3u¢ing b81¥n 25% per annLTh redwng Wance 25Yo pèr 8nnum reling balance per arytum straight e v•$tm•nts Listed investrients arè rneasured at fair value wilh thwrfJes in fair value being re¢ogrMsÈd in income or expenditure. The investment in the Subgdiary, w1¥thaM Tra(ling Company knmited is alUed at the nominel share value of £1. The subsidiary ccn1re trading 1S1 April 2022. 18
. The Whitllngham Charitsble Trust Company Limited by Guarantee Notes to the Financial Statements (eeffth¥• Year ended 31 March 2022 A¢¢ounting policies Impalmirt of fixed assets A rwew f indlcators of Implnnent is carried out at each ling date. with the recoverable amount ting estirnated vthere suth fftth'Cato e5t. Where Ihe carryin9 vaSue exrzeds the recoveratrk arnounl. the asset is impaired aCuwdNIy. Prior impaimients are also remewed for Frt)ssible reversd at egch rerIvi9 date. For thè purposès of impaiment tesliNJ. vthen rl is not possitAe to estimat8 the recoverable amount of an in('vidual asset, an estimat8 is ma( of the recoverab amcojnt of Ihe ca5h4Jenerating unit to which the asset belongs. The 135hnerallng unil Trs the &nallest identtrfiable group of assets that indLKJes the asset generates cash inflow5 that largety independent of the Gash inflows from other assets or groups of assets. Flnanclal instrumnts A ffnancial assel or a finanual liaiilty15 T8)gnISed onty the charity becomes a party to the contra¢lual provl$ron$ ol th& inslrwnwrt. 8$ financial ItrUments are iNtki1ty re¢ogrised al Ihe amount recelvat4e or payabl& Induifin9 y related transacti( $ts. Current assets ar current liqbdilies are subsequenty Measu al the cash orother consideration expected lo be paid OT received and nol di5ccwnted. Debt StruMents are j1qu9ntty measured al amortised ¢osL Wherè investmènts in 5harÈs are wblicty traded c their lair value can othemse be measured reliabty, the investrnènt is subsequently measured at fair value vilh thanges in far value re¢ognised in in¢omg aThJ 8XPVKliture. Al other gjch investments are subsequently measured at cost less iralrMent. Financial a55ets that are measured at cosl or am(Mised Cost are rewewed fr obiecbve evi08nce of impaimient at the end of ea¢h Xting date. W there is obpctsve ewdence of impairment, an impairment loss is reco9nised under the apwoFrfiate heathng in thè stslement ol finoncial &tivities in vthKh the initia gain was recognised. Forall eq¥ity instrumerts regardless of signifi(¥nce. and other firn¢la1 assets that are indTriiduaNy significant, these are assessed indiwdualty for impaimienL Other financial assets are either assessed Individually or 9foL4)ed the basis of similar uedil nsk tharacterisbcs. Any reversals ol impaiment are recogni8e(F immediatety. to the extenl that the VerSal does not re5uII in a cawwng amount of ffftancial asset thal exceeds *that ihe carrying amount would have bean had the impairmgnl not Fyeviously beon re¢ognised.
The Whitlingham Charitable Trust Company Limited by Guarant Notes to the Financlal Statements (¢orrtkn Year ended 31 March 2022 Jdgements and key sourc•s of estimation uncertainty The preparalon of the frnancial slatements requires mana¥ment lo rnake judgemeftts. estm8tes and assumptions that affect the omovftts rewted. These estim8tes and judgements are continually rewel and are b35ed on expern¢e and other factors, induding exFectstions 01 futu events that are believed to be reasonatle under Ihe arcumslances. Cnti¢g1 aOUntIng estimales The Trustees have considered that no amounlv+ill be due at ihe year end to Parf(with Ease Limited th they ended Ihe management C(tract of Its car parks on 31 Marc 2019. Grc81 areas of judgement The trustees have consKYeTed th&e to be no ¢ritKal areas of jjgenl to dischjse ltrn the Stslement ofAccount Lirnited by guaT•trtt• The TnJ5t is a charitstle company. limited by guarantee. Every member of the company is 8 9rantOr and undertakes lo tribUte to the assets of the company in the eventof It being wound up wlh a deft of fund5. such as may be required up to the limit of Iheir goarantee. Each 9Uarant.$ liability 1$ limite<l to £1. As at 31st March 2022. fvre W*Ère fwr such members." J R Colman. J Cdm8n. C Penn and the Broads AulhrAty.
The Whitlingham Charitable Trust Company Llmiled by Guarantee Notes to th• Flnan¢ial Stat•m•nts (¢v4Tr7U Yèar ended 31 March 2022 Donatiom •MI legxi•• UtYgstricte¢l ReStri9d Total Funds FurKIs Funds 2022 Donations" Dwations 20.000 21,500 1.500 20.000 21.500 Urwestrkted Restricted Totsl Funds Funds FU$ 2021 Donations Donations Grants that Core fvndiTrJ Charitable actlvitlos unreStted Totrl Fund$ UnStn"cied Total Funds FuTrJs 2022 Fund5 2021 Lethng of propety 93.214 93214 73,744 73,744 93.214 93.214 73.744 73.744 Ot*w tradlng athitle Uryestricted Total Fund8 Uweslrict8d Total Funds Fld5 2022 Fd$ 2021 C8r charges Other events 224.588 224.588 186.Y4 1,CH)O 186,544 1.000 22S.588 225.588 187.544 187.544 ITr91•nt Incoffl• Unrestred Totsl Funds UnStriCted Total Funds Funds 2022 Funds 2021 Income from li51ed investments Ineorne from cash invèstments 27.562 128 27.562 128 24.609 24,609 138 27,690 27.690 24.747 24.747 21
The Whltlingham Charitsble Trust Company Limited by Guarantee Notes to the Flnanclal Statements Year ended 31 March 2022 oth•r incom• Unreslnrjed Restrkteil Tolal FdS Fund5 Funds 2022 Olher In19 51.682 51,W2 Unre5trthd Restricte(l Total Funds Funds 2021 3.724 3,724 10. Costs of oth•r dIng ¥ti¥ts$ Uttricted Rèstricknj Total Funds FdS Funds 2022 Co$ts of othèr trading acliMWÈs 89,504 89.504 89,yJ4 Restrided Total Funds Furmts 2021 Fund5 Costs ofother trading lieS 65.586
The Whitlingham Charitable Trust Company Llmited by Guaranto• Not•s to Ihe Flnancial Statemerts (e4Mth Year ended 31 March 2022 11. Inv•stm•rt mw•g•n•rt ¢osts iknrpslrfcted Total Funds Vnrestricted Totsl Funds FurKJs 2022 Funds 2021 PortftAio management SuFWt costs 5,833 122 122 6228 6228 1.774 1.T14 11 ExpeDdlttn on ¢hvllablt a¢11¥•$ by a¢tl¥lty •nd lurnl type lknstrrcted Restride(l Totol Funds Fu Fund5 2022 A(fvice and informatn Man¥gwnent of WCP 3.087 202,972 3,087 224,993 22.021 2(.059 22.021 228.0 UrYestrted Furn1$ Restricted Total Funds Funds Ath'ce and informaJon Managernt of WCP 12,688 166.314 12,688 188.335 22.021 179.2 22.021 201,023 23
The Whitlingham Charitable Trust Company Limited by Guaranlee Notes to the Financial Statements Year ended 31 March 2022 l& Analysls of siwort Costs Trading adtwts Totsl 2022 Totsl 2021 wcp Goveffla costs Prof¢ssionafflegal 3,087 3,087 13.77T nagemenv Administration chorge Insuran¢ 234 8.101 224 3.222 11.547 10,427 3.087 1428S 395 5,&83 23.4SO 30.192 14. N•1 galns on inv•skn•Thts Errfjrpwrnenl Tolal Fund$ Endowm¢nl Totsl Funds 2022 Funds 2021 Gans on listed investments 81.814 81.814 165.016 165,016 15. Not In¢om•l(exp•ndltur•l Net incom[eXpenlIlW8> is slaie¢J after charging:_ 2022 2021 Depreciatiim of tangib]e fixed assets Operating lease ntLS Indepetyjenl ex8minatKn fees 28.708 12,470 3.175 29,794 12,470 24
The Whitlingham Charitable TnASt Company Limited by Guarantee Not•6 to Iho Financial SLements Y•ar ended 31 Mar¢h 2022 10. Trustses rnmun•r•Jn No rernuneralion or oth8T bon8ffts frorn empbymwrt with the tharity or a related entity V+ere recei74•1 by the trLtses. 17. Tanglble 15x¢d FIXbJ$, Pavilon and GotLY ggy TOlt b[ t111 MtrAer sgnage Total 979.113 23.875 31.958 7.427 29,153 1.071.526 At 1 Aprll 2021 A(bJibons DisposB15 6.948 70.734 Tl,682 I1,2) 129,1S3) (30.3531 31 March 2022 979.113 23.875 6227 70,734 1,118.855 At 1 Aw02021 Charge for the year Depn elim on 'SPQS81s At 31 Mareh 20Z2 333.899 16.111 28,144 4.428 18.219 400.801 22.021 1.941 1.413 28.708 (m) {18,219) {18.W21 355,920 18.052 1,413 410.517 Carrylftg amr•unl At 31 March 2022 623.193 5.823 8.072 3.814 69.321 708,338 670.725 At31 Marth 2021 645,214 7,764 10,934 All Fixed Assets ¥e hdd for cariiable pwposes. The land ¢xcuw8d by the Trust is sleCt to a long tem aSe as per hiskncal &Jreements. It was ac4uired al no co. 25
The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 March 2022 18. Inv•stments Fixed asset investments ar8 hold al Ih8ir far vak. Thase fair trrdlues are provKled by 8affatt & 2021 M•rk¢l v•lu• At 1 Awl 2021 1.153. 98S,790 AddIts Disposals 208.956 {214.OB2) 176.658 {173,6SO) Realised ga$ 12.675 21.878 UrYe8lised gains 143.228 1.224.793 1.153.904 2.054 27.482 As at 31 March 2022 1,256.847 1181.386 Market value can ts anysed foknv&" UK fixed interest ts"¢$ 177.205 184,763 UK listed equities a1 01 trusts 1.047.587 969.141 1,224.792 1.153.904 Whillingham Trnding Ctynpary Limited Cash depostts 32.054 27.482 1.181 386
The Whitlingham Charltable Trust Company Limited by Guarantso Noles to the Financlal Statements Year ended 31 March 2022 UK fixed interest seaJibes 1TI.441 179.053 UK listgj UltieS arKI uimt trusts 685.597 650.5 863.038 829.618 Whitlingham Trading Ccthpary U 27.482 895,093 857,1(KJ 2022 2021 Trade debtor5 Prepayments a1 inci#e Olher debtors 20.291 148,836 36.919 206.046 51.349 124,740 176,089 Within prepayments and accr[d Ome of £148.83612021.. £124.740). £29.03012(r21.' £29,030) rdates to accnJe(J incomè vknich has b8en reduced by a this1O for b8¢J debt. 20. Investm•nts 2022 2021 COIF depost 166.7S) 166.7 21. Cr•dltor•: amounts falllng du• within on ye 2021 Trade Creditorn Accruals and deferred in¢>)m? Other CjitorS 63,116 74,842 61.192 66.437 18.347 138.458 145,976
The Whitlingham Charitsble Trusl Cornpany Limited by Guarantee Notes to the Flnancial Statements r¢M(kn Year ended 31 March 2022 21 Analysis of charttable furHIs Unr•strlct•d lunds Gaits and At losses 31 Mv 2022 1 W2021 Incorne ExpeThtiture Twsfers General fvnds De&gnated lunds". Fixed Asset fulure spend Donated Assets Woodland rnanagement Flint Bam RelVatiOn Fixed Asset 314.227 354.674 1295.681) (66.749) 306.471 27.087 2,999 27.087 {643) 7.701 7.701 45.000 45,000 81,475 20.193 15,4671 66.749 372.207 399.674 (301.791) 470,090 At 14Y 2020 Gains and At kJsse$ 31 Mar 2021 kxome ExpeThlliure Transfers GerTal lunds Dgnated fvnds: Fixed Asset fLrture spend Dated Assets Woodland management Fixed Asset 263.828 289.759 {239.360) 314,227 27.087 27.087 2.999 (1,IXY)I 7.701 26.195 7,701 20.193 16.W21 (246.3621 328,810 289.759 372.207 28
The Whitllngharn Charitable Trust Company Llmited by Guarantee Notes to the Financial Stslements Year onded 31 March 2022 22. Analysis ol charitabl• funds General fund Tha General fund fepr858nts rgservo to 8nsurn the cortlnued op8ralion of the Trust forthe Immediate ftstufe reascfiaw assured. Fixèd Asset fun¢9 The Fixed Assetfund has be c¥8at8d to cfjvorthe cosl of mafry ¢aprtal in¢thn9 the lodet blc¢k facility and the 1[ac-M¥¥er, the balance of whth is re(kKed by Ihe annual ¢#)reciaixJn Chje. Fixed Assel fith SFend luTrY Th8 Fixed Asset fvture spen¢J ftjnd represents deswJ)aled to al caplkl assel purthas goW¥J forward within the Couth Park. Donated Asset fuTrJ The Oon8t8d Asw fijnd hc4ds the fair value of ass•ts ffiaitrJ in Ihe ar arKI on whth Ihg balan¢e i¥ reduced by Ihe annual depreuatl charge. Woodand Man•Jement fund Thè Wood1 Management fvnd reKèsents income received from thè sal8 ofwmber as a iesvlt of the dearance of wOodL per the Woeland Management agreonwnt wlKh will be vsed to fJnd furth Flint Bam renovation fvr The Aint eam renovation fijnd r8ts lh• )cthme te1ve from Ihe 8roads Aulhtirity in felati¢)n to the r0¥all¢n of Rinl Bam. Restrkted funds At 1 AFf 2021 GaFns and At sses 31 Mar 2022 Iruime Experrture Transfers Moorings Vi51tor faGilities dgvelopmenl Orienteering Course Willow Weavln9 Palhway 16.137 {4.064) 12,073 620,429 (17.957) 602.472 397 70 397 70 20,011 20.wo 637.033 122.021) 635.012 At 1 2020 Gain5 arnl At sse5 31 Mar 2021 Income Eypendilure Tr8nsfer5 Mooring$ Visrtor fa¢ili15 development Orienteer Course Willow WeawTry 20.201 14.064) 16.137 638.386 117.957) 620.429 397 397 70 659,054 122,021) 837.033 29
The Whitlingham Charitable Trust Company Limiled by Guarantee Notes to the Flnancial Statements Year ended 31 March 2022 21 Analysts ol ¢h•Tlt•ble (¢wth¥•d) Mooring5 fiJrKJ The Moorings fumj hol¢Js fvnds receN8d swaficalty for ts purpose of 0)nstrudg 24 hour ffloorings wthin th& park. The fvnd balance 1$ r&luc8d by lh8 annual defvwtion char9e. Visitor facilil'es developmenl fuNJ The Visitor fa¢ilits devdowent fund represents grants receNed specal for the purpose ol the contraction ol the Visitors Centre. The lund b81ance is reduced by the annual depreciation Willow Weaving fund The Willow Wèaving furKI rqyesents 8 ant rer1ved from the -National LotlÈry AvArds for All. whh is specificalty aimed at enhanang the SIL8 ol the volunleers undertake conseNation and grounds al Whitlin9ham County Park. E¥pendrtu from the funds towards the cost of materials and defvwy ol Ihe project frun a specialist training prowder in the conslrudiw of willow hurdles and wmowsculpturè. . Orntsbng InleTpretalion lund The Orientsting Interpretation fuThJrepTesents 8 grantreceIV from S(Krth Normal CrAJncl towards the re.instdlation ot orièntalbng posts arwj int8fwÈtirwJ signs ¥rouThJ the cnty P¥rk. Pathway fvnd Tr pallmay fvnd Tepresents 8 dation recewed from Town CID5e 5thLx)I towards thFJ surfacing of the pathway and the Great Broad to make %theelchair user lriendty. Enth)wment frJTrY The Endowmeni fund represents term capitsl of the Trnst. Interest generaled Irom investments he in the EThknb7nenl fiJnd is used br Ihe day-to4ay Djng costs of the Trust. At 1 Aw2021 Galns and At sses 31 Mar 2022 hKoma Expew¥Jiture Translers Permanent EndrNrtn8nt Fund 1.120.708 81.814 1.202.522 At 1 Apr 2020 Gain5 and Al low$ 31 Mar 2021 Ie E¥penditLve Transfer5 Pemianw Endowment Fund 955,602 165,106 1.120,708
The Whltllngham Charltable Trust Company Llmlted by Guarantee Notes to the Flnancial Statements Year ended 31 March 2022 Urnestrte•J Reststhd Endowmenl Total Fund¥ FUts Fd5 Funds 2022 Tangible red assets Investments Current assets CrethtNs kss than 1 ye Not ass•ts 93.793 137.082 377,673 (1S8.4581 470.0 614.545 708.338 1.256.847 480.897 (138,458) 2.7.fj24 1.119.765 82.757 20,467 635.012 1.202.522 Unffj$trKl¢d Restrthd Endv*MI Total Funds Fund5 Funds Funds 2021 Tanble fixed assets Investments Current assets CdItOrS less than 1 r N•t assets 34.159 636.566 139.130 670.725 1,181,386 423.813 1145,976) 2.129.948 1.042256 78.452 (145.9761 372.207 637.033 1.120.708 24. Op•ratlry l•aso ¢fy7knmilmenls As l•ss•• The total futLre mAiitYxm lease payments unthr nonuKdlabl• operab.ng a$&5 ara as k)Ilows: 2022 2021 hloi18ler than 1 year Later than 1 year and not later than S years Later than 5 years 12,470 49,880 7E4J,670 823.020 12,470 49,880 773,140 835.490 The land of Whillryham County Park is aSed to the TnJ5t uThJer b)rwJ-temi aSeS wilh annual 31
The Whitlingham Charitable Trust Company Llmlted by Guarantse Notes to the Financlal Ststoments (¢tyrf& Year ended 31 IAarch 2022 As $Sor The lolal future minwnwn lease payments reCeiVae nonrycancelkble oreratirs leases are as fcllows: X121 Not later than 1 ye8f Later than 1 year and nol LAter 1han 5 yea L8r than 5 years 15.500 62.000 482,955 15.134 60.536 475.481 .455 551.151 The OPBr3liro leases represent the leases for the lease of land for Whrfwigham Bo8lhouses Foundabcsn Ltd Ilor ¢on$twuction arhd use of a boathouse) Ihe ka5e ol land the Ouldoor Edwation Actiwty Centre. The beases are wolated over a twrn of 78 years anc$ 15 yews respecl'vely. 25. ContingeTht1Sablliti¢¥ During the 2019fmanoal yearthe TNst tefminated a ¢onlr as a result ol underperf0m?ar an have m 8 claim against the contract prowder in respect of amounts due lo Ihe Trust. In respiyise. the ¢Mtractor has made a c(sunter daim against Ihe Tnjst lor breach ol ¢ontfdCt. The Trust h8$ taken wopriate Wal advice and bele they are in the strong position to defend Ihe dairn. Legal and comrnercial disojssions are on909 and at the current lime provislon has been made in Ihe fina1 statements in res ol the daim 8g8rnsl the Trust as the amount ol any Iransfef ol ecorn)m beneffii. rf any. cannot te measvred reliatly. There is therefore btsth contingent asset and conbFynt ltability in existence at the date of approval of the fancial stalèmenls. 26. Financial Instruments The folloTr9 calwjries ol ffftarKyal instruments are carri in the balarKe 5PÉet Flnan¢ial a$8et8: 2022 Measured at fair value 1.256,846 1,153, 32
The Whitlingham Charltable Trust Company Limlt•d by Guarantee Notes to the Financial Ststements (¢•th•d) Ygar ended 31 March 2022 27. fAPital Conwnitsn•nts Capllal Commlkn•nts: 2022 2021 C4>ital expendilure tangible assets con1ra for lyJi not Provided in the fmancial slatements 22.250 ¢athl oynfflitments slw attye rdales to clIraClal obl•0$ to devdop the exlemal toilel for repairs and enhwKements. 28. Related parties During the year the Trust rèntÈd the Nint Bam trcmn a famAy trust connected wth Mr J R Colman. The building is rented under a long term lease loperats.ng leases- note 241 underlemis negotiated on an nS-ngth bass. The rent due durirrfJ the ye8rw8$ £12,470 {2021.. £12.470). The anxiunt outstsndir@ at the year end was £nl12021." £nil). Duiing the year the Trusl recei¥&J a donatkin of £1.000121r21.' £1.0001 from Paint Oul Lwnited. a company that Mr J R Coknan is Ihe sole dir¥¢tc arnl sharehr4dEr ol. Whifjingham Tr8th"ng Company LThited is a o%%ed subsKliary of whilnghaM Charitable TrusL Al Ihe year end, Whiuingham TrJing Company mrted owed the rnPany a loan balan¢ of £20.00012021.' £Nill. The loan is an Lmse¢ured loan arKI was repa in full in Septemt¢r 2022. Th• Trusl hdds Ihe maioiity of I's investments Barratt & Cooke Sto¢kbrokers wthich Mr N Savory is a nonx8¢ub¥t direOr ol. 29. Volunteer Mntrbution An 8verage of 1 S volunleers dedtj 3.71 S IKNJrs lo the Trust lexclu¢Jing events aTrJ school groups). Vdunteers have ¢onlinued to assist in Ihe maintenance and over811 improvements around the Path thrcwh regdar we¢abon rnanagement. litler picking. ILKniture repair and replacement, invasNe 5pec ¢4mtrol Visual srtg Irvecti5.