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 M￿h 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$trallon numb•r 022229XI PrSnclpal offic• and roglst•vgd CIO Adepta ￿Mile￿ offiee Hill Farm lfjrby Road Be¢ NR14 7DU England MT J R Colman Mr M Falcon trCPenn R D Hulton Mr N R Savory (ap[￿tea 1st Ayil 20221 Company secretsry Adepts Limiled Independent Ex4min¢r RSM UK Tax and Umrted enheirn House Nev*m?Fket Road Bury Sl Edmunds Suffdk IIY33 3SB The Whitllngham Charitsble T￿￿t Company Llmited by Guaranteo Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2022 The trust6e$. 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 manag￿￿8￿ 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 b￿ng wound upwith a defcil of funds, such artK￿nts 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 lo￿kn ￿ 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 qU￿lf•eS As a small group. Tr￿te•S The T[￿tte5 of the charifable cornpony during the yew. ￿ are dire¢knts of Ihè comp8nyfor Ihe pwposes of the Com￿leS 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 I￿r trusiees. Other Trustees are app(Mntsd by the member5 in a gwal meeting. The num￿1 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 es13￿lshed 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 SettL*Menl 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 pa￿e￿I PUf5L¥15 ￿ a nral enviroMienL The re*oralion of the site was the responsibility of the landowners aNJ mR*ral qJer3tors. FdlMng rastoratknn. land was ￿ased lo the Trust under a bn9-term lease. The onginal Pa￿ infr8$1ruclurè was spea￿d and funded in accordance planniNJ agreemen15 tetsveen Norfolk County CotsnciS and the landovmws. The Trust is responsibk fw the mantenanrE management ofthe a￿8 as a nty Pa￿. The Trust C￿MMerK￿l Lyration Sn 1992 with the h8ndovw of Tr¢ywge W(Ktrd and Vrt8dow. The uisition of Whiuingham Wood and Whilin9ham Bro&lfollowed in 1994 1996, respects'vely. Whitlingham Litle Broad wras opened lo the put4ic in Au9USt 1997 wilh Whilingham Great Broad follrwrfing in 2004. Minwal extraction and subsequent resto(8ttsJn has be￿ complgled on the area of land and water whKh fc¢ms ￿ltlInghaM County Park. The Trust h85 developed the Country Park in lirte v*lh successive business p￿n$. A 24-hDur mO￿lA9 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 0￿ed #nd rn￿aged by Norfdk Council on1and leased from Ihe Trust. ya managementagreement, Ihey area1s0resK￿lb1e 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 peo￿e. Due lo CovKI-19. Whitlir4ham Adventure was reDpened k> the wblic on 1W May 2021. Land has been leased to WThillngham Boa￿uSeS Foundatw for the ￿nStruct￿)n by them of 8 w. purpose built lacility for rowing ca￿eIng 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 C￿lInued 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 ￿fvaStr￿CIvts 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 abo￿the Twsys achi8vements and perfomwce forthe year end8d 31 Mxh 2022 aganst s￿h 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 ￿t￿ltieS 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 provk*s a ¥ar*d 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. ramb*s, famifies aThJ dog wglkws. Main pathways are suitablo for disabled a￿0$$ 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￿ cc￿￿￿ng 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 T￿eW of all slgnage and steps have been taken to update all s*ge. NoMch Canoe Club has use of ts Lime 8rood fr)r it5 trainw￿ sessons Boathouse users have direct access ￿ the Rwer Yare na￿901￿. 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 p3￿miG. 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 $y￿eSS a￿1 wras eryoyed by a large number of ￿￿t￿s. ott￿1 events have indLFded a Tèddy Bears picnSc for children and families. a Halloween event and outdoor Iheatre pwfoTmarK*s in Ihe ruins of Trovlse Cxd Hall. The gras$ areas ¢los* to the Fh"nt 88m are mown to a short sward for amenity purposes. conduded fortni9htly Ovér summer months. In certain s￿t￿)nS of the Park. corservation oblecllves take precedènce and Wb1￿ aC￿sS is discouraged forthe b￿rt ofwildlife habitats. The Picnic Mèadow is rnown to a conservat.on Schedu￿ aThJ has a more nalwal wawce. Hay r*￿'r￿j is ur￿rtaken in parts of the Pa￿ to encourage the growth of wild flo￿￿T5. 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 tr￿n￿ 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 7hr*lt and essenlHI thinning were caff*d 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 Y￿Ue. Some urgent tree Works re ￿led o¢Jt f01th￿￿j the iwt of sto￿ EU￿e. Thys yearfs rna1ntena￿e progranwne inclLwJed signiknnt cOpp￿ing around the Great Brts￿. This has had the benefit ofopening up vmvs across the walei lo h*Jhl)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 f￿all11eS 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. se￿Thd 8%SYilKJn was the installalion of r*w 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 $ucossful appli¢alion for grant fiJnding. The Park's volunteefs ¢Olltinue to ma*e a v8luable contribjtion to the Country Port. volunteers continue to use their Iraining in mowing. brush cult1￿. driwng and the wctyJd chlpper to 8ssisI them to help maintain Ihe Park. independendy and along&de Ihe management company. Volunteefs gave 3,715 houfs to the Park in 2021122 and have a5SiSted wrfh sile check5: vegelation m8n8gement.' fumilure ￿pairS,. invaswe contrc4: litter pi¢kin9. engaging wrth the public and tlay to day mainterkance. Addrtional volunw hours **rè by students from Cty College and Easton College. Support from other w%tirKJ groups was re.introdLsced during the yearv#hen it wasjudged safe lo do so. The Trustees wodd like to record their appreciation of all wort the votuntows as Mih their 9fforts. the Park cl￿t￿￿e5 to be a beaut.fvl environrnent frx ¥isitors. Under the agreemeni beb%ten Ihelondownets t4KI the Tnk%L tr* Twst has been el￿￿¥edwth a capital sum of £553,000 received by instalments, the final being receNed in 1999. The Trust has invested Ihls to assisi in furKJing annu81 m8inten8n¢e and admiThslration costs of the Pwk. Funding ts r¢qvired tu finance ￿er development of amenities and fxilities and their subsequent mainlenance to cope vrilh the irKreased nurnbe(s ￿$￿"n9 the Park. Grant funding Icf thi5 purpose has been obtained I￿￿gh enrdment 85 an emronmental urNJei Landfill Tax regulab"ons. This funding 15 described in Ihe fin¥rtia r￿l¢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 exp￿t. c￿r 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¢onttr*ue41 Year ended 31 Ma￿h 2022 stsrt of Ihe loc*dthvn period orbj dosed a numberof cwf¥c¥lities. in¢luding the Flint Barn d tre car p*ks. Atthè same time. ihe Tnjstees recognised that the P*k 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 naI￿nB1 locktjo￿1 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 rese￿e5 ofthe Tru8t should be bull up to. and malntained at. a knl whkh is slrtrti￿t to ersure the ry)nlinuatwM oltl* Twst's adivi*ies. Freely aVaI￿￿e 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 rn￿t¢nartt of ￿ COUW Park is like￿ lo irueose dLte to age an(J Int￿5￿ 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 8￿de￿ 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 s￿h 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￿$tri￿ed f￿ reserves were £373.220 which Èquat8S lo approximstely tsyelve months ol annual urt￿$￿.¢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 expend￿tUre 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 Pc￿Ts of investment. govern the Truslees, inve5trnent powers. The Trustees. policy is, after receivTng Suitable advice. to invest in li$led se¢uriles on the London Stock Exchan9e and sirKe July 2016 has rastrtcted its investrnent into tobacco cornpanies and those eompanies th* may Fotentially damage the Ictal areas lo the County P8rk as well as diversi￿.n9 ils portfolio to indude irwestrnent tn blue chip global equiiw. The inveslment obJecttves are to maintain income at a re8S(x)3blè levd. vthilst yeserving the real value of erthwed fijncts. and to maxbmise income on temporarity inve*ed Unrestrict￿ and Testrtcted funds. The chwty'$ investments have continwj lo be managed In conftymty wrth our pc&cy. The Income lum on Ihe average cost of inVeSth￿nts for Ihe year was approximately 3.15%12021..2.90•AI, which the Trustge$ ¢onsider to be sai$fact Flnan¢ial weview The balanee ol the •rndo%￿ capitsl fvnd at 31 Marth 2022 of £1.202.522 represents the ¢apital inslatrnents received of £553.(MJ). plus the cumul8lNe Inmsè in th& mathet value of the undertying investments 01 £649.522. The net change in the market value of invesbnenls for the year was an increase of £81.814. The TnJstee5. having unLlert8ken a rewew in the year. now operate 8n ethically geared polw on its inveslments. The investrnent portldio will continue to be managed to provide long term growth and to maximise irwne w7thoul undue risk. However. in wew of Cu￿nt wrrld events. the oulook in Ihe c￿ent year for satisfactory inve5tmeni performance continues lo be wcwf8in. both in tenns of mthet Value and ints)me retum. The Trust is enrolled with ENTRUST as an env￿nmentsl undwthe LarHJfifi Tax re9ul8tions. The Trust ha5 pre¥wJusty reGeivEd gFant fvnding Ythich resUtW in the O￿ning of the Flinl Barn. ENTRUST lations fequire rts interest to be registered. and as at 31 March 2022 Ihe ￿$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 g￿ra1 adminrstrabm has been charged agalnst thls Income. The balar￿e 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 leopard￿e the business. the Trust's key obA￿lIveS the vray it cperates. Rlsks Id￿tffi9d 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 9o*ms #Ie rAocedures to te pul in pLqc8 for rK)min8tirMJ new memter5. A vice-chaim￿n 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 su￿O￿ltte9 regularly and a disuetwry Service is in place the Tru$t's investmenl managers albwing Ihem to trade se¢urities in the portFdio ￿cordingly. Thè eontrael proMsti)n for the mamgement of the car p*s has been changed and a new arangement is ift place for ca5Nes5 payments. Ineffecuve ￿ng￿ement wlth key pwIne￿Istakeh0￿ers7hfilth could break1$￿ key on issugs affeth'ng the Park and ..e5uh in Ihe failure to deliver Object￿eS, 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 aga*isl Trust. Heath safety procedures and pdiGie$ are alre** in place to counler and prevent SLKh risks from arisirtg. RegL￿r risk assessments are carried out to ensure the safety of SUrr￿nd￿S 8s well as iNJMdu* aThJ vknwe require(I hea￿ and safety tra￿1￿9 is prowded loo. Conh"nuous safety audits and ongoing mainten8n¢# F￿￿¥￿me5 fcrkn)L8 and ￿￿1pment also e￿￿re 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 pU￿1C and atso higher InsUrar￿ premiLmS. RiuKJrous policies and pl￿S we in place lo o)ver hazards presented for bolh land an¢J water thr￿gh a Vlsitor Safety managemenl ￿an vthich 15 also published. FUrther￿Ore. rtrgular srte inspections of lurn11u￿. faulib"*s and annual tree suThey5 in aojit￿n 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 aCkn￿edge 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 bL*SJet 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 finar￿A81 stslements. The TnJstees vtew al the date ol &gnirrtJ the finanrial stalerrMis is Ihal the Trusi ￿MainS viable and remains a g￿ng concem. ans for Futur• Periods The Trust remains cornmitted to delNerin9 its co￿ PLFrpose of p￿￿"dIng a of qu*t enjO￿ertt 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 Incc￿p0raIed 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 ￿$0 d1￿CtorS for lh• purposes ofcvmpany arn responsible for preparing 1he trustees, ieport and Ihe financial siaiements in accnrdance ￿th appluble law and United Kwt9dom Accounting Standards (Uniled Ktrwdom Generalty Accepted Accounling Pracbce). Company W requires the chanty InJstee5 to p￿p￿8 firban¢ial statements for eath year whth give a tllJ9 anrf lair ol th8 state ol affair5 of the t*wlable cornpaThy and the 1￿m￿j resour￿ and app￿ratIon of resourtes. Induding the income and expendth. foy Ihat peliod. In wepariy these finanual slatements. thè tntstees are tsquired to.. selec¢ suitable a(tounlirvJ pd*ie5 aJyJ Ihen appty thpm consist8nity.' observe the meif>)ds and principles in the appltabte C￿￿&$ SORP.. make judgryents and a¢countin9 estilnales thal are leas￿b]e and prudènt.. prepare Ihe financial statements ￿ thè going concem basis unless it is InaForopriate to presume that the chanty will continue in t¥Js1￿SS. Th¢ trystee8 are responsib￿ for keepi￿ athquale xcountiThJ re￿rdS thal are suffKient to show and ex￿ain 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 Wh￿1￿haM Charitable Trusl I'lhe company'l for the year en¢Jed 31 Ma￿h 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. .Ha￿n9 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 cOTrJ￿l of an audit goes beyond the linited assuranr . thai an independent examina￿￿ can wowde. cor￿venIty. 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￿￿$ st*menL Independent exarnin•rf3 statement sin￿ the company's gross Ir￿c￿ne exceeded £250.000 your examiner must be a merthr of a bc listed in section 145 of the 2011 Act. I ce￿fiM1 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 b￿di&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 inde￿ndent examination., or the finanoal slatemenis have not been prepared in aceorfancewith the methods and prinCip￿S of the Ststernent of Recommended Practice.. Accwnting and Reporfing by Charitie5 applicabl to charit￿S preparing th￿r accounts n 8LccYdance t*￿ the Financial Reporting stsndard aFPlIcab￿ in the UK an*J I￿LAnd 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 UrKIe￿￿ndi￿9 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 un￿S￿ICted 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 ir￿rne 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$ir4J fur￿.. Costs of olher trading 8Ctiwlies Investment managernent costs 11 ExpenditLwe on Gharliable ac￿l￿eS 10 89.SM 65.S86 6,228 6228 1.774 12 22.021 228.080 201,023 . Total •xpendlture )1.791 22.021 323.812 268.383 Net galns on Invpstrnents 14 81.814 81,814 165,106 N¢t Incomgllexpenditurel and n•t mov•ment in funds 97.883 12.0211 81.814 177.676 786,482 Reconciliation of funds Total funds brDught forward To¢01 funds carried forward 372.207 470.090 637.033 1.120.708 2.129,948 1.943.466 635.012 1.202.522 2.307.624 2.129,948 The n4>t¢s on pag¢$ 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 UM￿S(r￿led 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 SlateTr*nt5 have been prepared in aCcOrd￿t 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 finar*I￿ statern￿ts 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 e￿ty 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>)M￿￿nce *ith FRS 102. The FIn￿cIal ReportiTrJ Standard applicable in the UK and the RepulAic of Ire￿nd.. Ihe Statement of Recommended Practice SP￿[¢8b￿ ￿ ¢harilies tx8parirvJ th￿r 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 Ba￿9 of pr•paratlon The financial statements have been prepared under the historic81 cost convention. rn0drf￿d to indude inv•$tmènls ¢ertain financial instrumwts 81 tsir valu$ The finan¢ia statement5 aré p￿ptred 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 In￿d$ 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 wh￿h this FS the parent qUalif￿S as a small group. The ffinancial statem￿ts 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 f￿8￿181 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 sla*nts. Whilingham Tra(thng C(Mnpany ￿rnited was wrporated on 14￿ Fet￿ary 2022 ￿•th The Trust as the sole shareholder. This trading company has been set up in orderto oper*e Hint Bam as café and began lo tr￿1¥ 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 un￿StriC1ed funds a¥a￿atIO kn use al ts discreti￿ of the trustees to further any of the tharity'$ purposes. Ownated ￿d5 are unre$lrthd fumts e8M8rked by the Jrust•es lor pwticubr project or commlbmenl. The EnO)wment fund ￿pres￿*S ¢aprtal instalments re¢eived to provide Ihe pemanent e8Pital of the charity and the cvmulative increase in Ihe rnathet value of the undetyirwj investrnents. Income eamed from Ihe investment of thèse funds is to be used to finance Ihe day lo day running and ¢ontinued dèvdqxwit of ts ctrffj. ￿1 wch incryne is cTrJiled to th• vrvesin'cted general lund on receipt. Restn'cted furn1$ 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¥e￿elj 10 restrK*"onsrM Ihey expend￿￿re declared by the ijonor orthro(ryh the term5 of an appeal. and fall inlo ￿ of Nyo S￿￿asSeS". restricted Ir￿ome 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 $￿ifiC poh'¢i85 are ap￿ie1 to parlicular categories of Inc￿ne.. Ir￿me from charitsbkn activitses. donations or gtants are re￿nised vthen Ih8re Is ofenb"tlement to the gft. receipt is probable and its amount Can be rneasL￿d reliably. Income from donated gotrjs 15 measured at thè lair value of the unl8ss this is imkyaclical to meayjre relK8trAy. in wknich case the V￿￿e is derived from the c05110 the donor or the estimated resale valve. Donated fa¢ilib"¢s and servlces a￿ reco9rused In Ihe ￿ounts when received if the value can btr feliably ffleasu￿. No amwnts are includ&J lor the ntn'bulion of general vojuntew5. ￿￿Strn￿nts and other income aT8 induded where rEceivable. IrKome from trading acliwlE5 is accounted fty when e*w1. Resour￿$ experKI ExFenditure is ￿e09n15¢￿ tsn an accnds basis as a liablity is Kurred. Expendilure in¢￿deS any VAT which cannot be fully recovered, ar￿ B￿as￿d under headirgs ofthe statsmenl offinanaal arliwli85 to whith tt rdates". Expenditure on rai￿n9 funds indudes the costs assocth¢J V•ith ¥8nl appltitty?n$. managing inv8stmants and 9￿(al"n9 don•tions and any ¢)Iher related costs. Ext*ndittJre on charith￿e inckJde$ all cosis irKuffed by a charity In undertaklng acbwlies thal further its charitsbkn oims fry the ￿nefi1 of its benèfi¢iar?es, includ￿9 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 Actrv1t￿S on a basis designe(J to [ryOrt￿n 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 in￿rne 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 deweclat￿n, incuThed in earnin9 the ￿ase Income are recognised as an expense. Any initial dI￿t costs incurred in wotiating and arranging the operatin9 lease ale 8dded to the caryng amountol the ￿ase and recognised 88 an expense 0￿r the lease temb on Ihe 5arne basis as the lease ¥Kome. T￿gIble assets TangitAe asseis are initialty reccffded atcosL and SAJbseq￿nty $tatedat cost lèssany accumulated depreoation and impaimient losses. Any langible assets carried al revalued amounts are re￿rded at the fair value at the date ol revaKJabon kss any subsequent a¢¢urnulale¢J depreciation and subseqL*ni ¥¢cumulatsd Mnpaimient losses. DèwKi•tlon Oewecialion is C￿￿141¢￿ so as lo ¥bTrte off the cost Of an asseL its re$￿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 re￿l￿ing balance per arytum straight ￿e v•$tm•nts Listed investrients arè rneasured at fair value wilh thwrfJes in fair value being re¢ogrMsÈd in income or expenditure. The investment in the Subgdiary, w1¥t￿haM Tra(ling Company knmited is ￿alUed at the nominel share value of £1. The subsidiary cc*n1re￿ trading ￿ 1S1 April 2022. 18 . The Whitllngham Charitsble Trust Company Limited by Guarantee Notes to the Financial Statements (eeffth¥• Year ended 31 March 2022 A¢¢ounting policies Impalmi￿rt of fixed assets A rwew f￿ indlcators of Implnnent is carried out at each ￿￿ling date. with the recoverable amount t*ing estirnated vthere suth fftth'Cato￿ e￿5t. Where Ihe carryin9 vaSue exrzeds the recoveratrk arnounl. the asset is impaired aCuwdN￿Iy. Prior impaimients are also remewed for Frt)ssible reversd at egch re￿rIvi9 date. For thè purposès of impaiment tesliNJ. vthen rl is not possitAe to estimat8 the recoverable amount of an in(*'vidual asset, an estimat8 is ma(* of the recoverab￿ amcojnt of Ihe ca5h4Jenerating unit to which the asset belongs. The 135h*nerallng unil Trs the &nallest identtrfiable group of assets that indLKJes the asset generates cash inflow5 that largety independent of the Gash inflows from other assets or groups of assets. Flnanclal instrum*nts A ffnancial assel or a finanual liaiilty15 T8￿)gnISed onty the charity becomes a party to the contra¢lual provl$ron$ ol th& inslrwnwrt. ￿8$￿ financial I￿trUments are iNtki1ty re¢ogrised al Ihe amount recelvat4e or payabl& Induifin9 y related transacti(￿ ￿$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 ￿j1￿qu9ntty 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 v*ilh thanges in far value re¢ognised in in¢omg aThJ 8XPVKliture. Al other gjch investments are subsequently measured at cost less ir￿alrMent. Financial a55ets that are measured at cosl or am(Mised Cost are rewewed fr* obiecbve evi08nce of impaimient at the end of ea¢h ￿￿X￿ting 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 fir￿n¢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 J￿dgements 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 exper*n¢e and other factors, induding exFectstions 01 futu￿ events that are believed to be reasonatle under Ihe arcumslances. Cnti¢g1 a￿OUntIng 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. Gr￿c81 areas of judgement The trustees have consKYeTed th&e to be no ¢ritKal areas of j￿jgen￿l to dischjse ￿ltr￿n the Stslement ofAccount Lirnited by guaT•trtt• The TnJ5t is a charitstle company. limited by guarantee. Every member of the company is 8 9￿rantOr and undertakes lo ￿tribUte to the assets of the company in the eventof It being wound up wlh a def￿￿t of fund5. such as may be required up to the limit of Iheir goarantee. Each 9Uarant￿.$ liability 1$ limite is slaie¢J after charging:_ 2022 2021 Depreciatiim of tangib]e fixed assets Operating lease ￿nt￿LS Indepetyjenl ex8minatK*n 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 SL￿ements 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 trLts*es. 17. Tanglble 15x¢d FIXbJ￿$, Pavilon and GotLY ggy TOl￿t b￿[ t￿11￿1￿ MtrAer sgnage Total 979.113 23.875 31.958 7.427 29,153 1.071.526 At 1 Aprll 2021 A(bJibons DisposB15 6.948 70.734 Tl,682 I1,2￿) 129,1S3) (30.3531 31 March 2022 979.113 23.875 6227 70,734 1,118.855 At 1 Aw02021 Charge for the year Depn elim on 'SPQS81s At 31 Mareh 20Z2 333.899 16.111 28,144 4.428 18.219 400.801 22.021 1.941 1.413 28.708 (m) {18,219) {18.W21 355,920 18.052 1,413 410.517 Carrylftg amr•unl At 31 March 2022 623.193 5.823 8.072 3.814 69.321 708,338 670.725 At31 Marth 2021 645,214 7,764 10,934 All Fixed Assets ¥e hdd for c*ariiable pwposes. The land ¢xcuw8d by the Trust is s￿leCt to a long tem ￿aSe as per hiskncal &Jreements. It was ac4uired al no co*. 25 The Whitlingham Charitable Trust Company Limited by Guarantee Notes to the Financlal Statements Year ended 31 March 2022 18. Inv•stments Fixed asset investments ar8 hold al Ih8ir far vak*. Thase fair trrdlues are provKled by 8affatt & 2021 M•rk¢l v•lu• At 1 Awl 2021 1.153. 98S,790 AddIt￿￿s Disposals 208.956 {214.OB2) 176.658 {173,6SO) Realised ga￿$ 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 an*ysed ￿ foknv&" UK fixed interest ￿￿ts"¢$ 177.205 184,763 UK listed equities a￿1 ￿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 a￿1 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 C￿jitorS 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 Rel￿VatiOn 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 Ger￿Tal lunds D￿gnated fvnds: Fixed Asset fLrture spend D￿ated 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 Ch￿je. 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 reK*èsents income received from thè sal8 ofwmber as a iesvlt of the dearance of wOodL*￿ per the Woe￿land Management agreonwnt wlKh will be vsed to f*Jnd furth Flint Bam renovation fvr The Aint eam renovation fijnd r8￿￿ts lh• *)cthme ￿te1ve￿ from Ihe 8roads Aulhtirity in felati¢)n to the r￿0¥all¢n of Rinl Bam. Restrkted funds At 1 AFf 2021 GaFns and At sses 31 Mar 2022 Iruime Exper￿rture 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¢ili1*5 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)nstrud￿g 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¢ilit*s devdowent fund represents grants receNed spec￿￿al￿ 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 rer￿1ved from the -National LotlÈry AvArds for All. wh￿h is specificalty aimed at enhanang the S￿IL8 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. . Or*ntsbng 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 c￿nty P¥rk. Pathway fvnd Tr pallmay fvnd Tepresents 8 d￿ation recewed from Town CID5e 5thLx)I towards thFJ ￿surfacing of the pathway a￿￿nd 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 Dj￿n￿g 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 I￿e 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 Urnestr￿te•J Reststhd Endowmenl Total Fund¥ FU￿ts F￿d5 Funds 2022 Tangible r￿ed 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$trKl¢d Restrthd Endv*M￿I Total Funds Fund5 Funds Funds 2021 Tan￿ble fixed assets Investments Current assets C￿dItOrS less than 1 ￿r N•t assets 34.159 636.566 139.130 670.725 1,181,386 423.813 1145,976) 2.129.948 1.042256 78.452 (145.9761 372.207 637.033 1.120.708 24. Op•ratlry l•aso ¢fy7knmilmenls As l•ss•• The total futLre mAiitYxm lease payments unthr nonuKdlabl• operab.ng ￿a$&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 ￿$Sor The lolal future minwnwn lease payments reCeiVa￿e nonrycancelkble oreratirs leases are as fcllows: X121 Not later than 1 ye8f Later than 1 year and nol LAter 1han 5 yea L8￿r than 5 years 15.500 62.000 482,955 15.134 60.536 475.481 .455 551.151 The OPBr3liro leases represent the leases for the lease of land for Whrfwigham Bo8lhouses Foundabcsn Ltd Ilor ¢on$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 bel￿e they are in the strong position to defend Ihe dairn. Legal and comrnercial disojssions are on90￿9 and at the current lime provislon has been made in Ihe fina￿￿￿1 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 f￿ancial stalèmenls. 26. Financial Instruments The follo￿Tr9 calwjries ol ffftarKyal instruments are carri￿ in the balarKe 5PÉet Flnan¢ial a$8et8: 2022 Measured at fair value 1.256,846 1,153, 32 The Whitlingham Charltable Trust Company Limlt•d by Guarantee Notes to the Financial Ststements (¢•th•d) Ygar ended 31 March 2022 27. fAPital Conwnitsn•nts Capllal Commlkn•nts: 2022 2021 C4>ital expendilure ￿ tangible assets con1ra￿ for lyJi not Provided in the fmancial slatements 22.250 ¢athl oynfflitments slw attye rdales to c￿lIraCl￿al obl￿•￿0￿$ 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 whil￿nghaM Charitable TrusL Al Ihe year end, Whiuingham Tr*Jing 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 non*x8¢ub¥t dire￿Or ol. 29. Volunteer Mntrbution An 8verage of 1 S volunleers ded￿t￿j 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 Irvecti￿5.