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2023-03-31-accounts

Cleeve Common Trust

Charitable Purposes in Connection with Cleeve Hill Common

Charity No. 900131

Report and Financial Statements for the period 1 April 2022 to 31 March 2023

Contents:
Trustees’ Report 2 - 10
Independent Examiner’s Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 - 18

Cleeve Common Trust Annual Report 2022-23

Trustees Report for the period 1 April 2022 to 31 March 2023

The Trustees present their report and financial statements for the Charity for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.

Reference and Administrative Details

Trustees

The Trustees who served during the year and up to the date of this report are: Colonel (Retired) Philip A Robson (Chair) Cllr Cheryl Agg – resigned 19 October 2022 Mrs Keja Berliner – resigned 25 July 2022 Ms Carli Burke – appointed 19 August 2022, resigned 18 August 2023 Cllr Elizabeth Chapman – appointed 12 July 2022, resigned 26 May 2023 Mrs Marilyn Harris – appointed 18 August 2023 Mr Chas Howes (Vice Chair) Mrs Sylvia Hughes Mr Adrian Jowitt – resigned 31 August 2023 Ms Karen Licence – resigned 25 August 2023 Ms Bryony Paul – appointed 6 September 2023 Mr Alan Robinson Mr Louis Savage – appointed 15 July 2022 Mr Robert Stayt – appointed 29 June 2023 Mr Robert Torrington – appointed 25 August 2023 Miss Sarah West Mr Simon Wheeler Dr David Willingham

Clerk

Mr Michael Bates

Advisers

Mr Peter Lightfoot Mr Robert East – resigned 18 May 2023 Cllr Cheryl Agg – appointed 18 July 2023

Principal Office

Parish Office, Church Road, Bishops Cleeve, Cheltenham, GL52 8LR

Independent Examiners

Brunswick Business Services, 9 Carrol Grove, Springbank, Cheltenham, GL51 0PP

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Cleeve Common Trust Annual Report 2022-23

Bankers

Lloyds Bank plc, 130 High Street, Cheltenham, GL50 1EG

Solicitors

Christopher Davidson Solicitors LLP, 2-3 Oriel Terrace, Oriel Road, Cheltenham, GL50 1XP

Structure, Governance and Management

The body of Conservators which manages Cleeve Common was established by Act of Parliament, The Commons Regulation (Cleeve) Provisional Order Confirmation Act (1890). The Charity, Charitable Purposes in Connection with Cleeve Hill Common (No, 900131), is an unincorporated association registered on 14 September 1989, which took the Act as its governing document. The working name of the Charity was changed to Cleeve Common Trust in June 2017.

All trustees are appointed by local Borough and Parish Councils in accordance with the 1890 Act with the exception of Col (Retired) P A Robson, who has a place on the Board of Trustees by virtue of being a Lord of the Manor[1] , and Mr A Jowitt, who is the representative of a Lord of the Manor. Mr Jowitt was replaced by Ms B Paul after the end of this reporting period. In addition, the Board co-opts advisers (Mr R East and Mr P Lightfoot), who are not trustees of the Charity. Mr East was also replaced after the end of this reporting period, by Cllr Agg.

The Trust contracts with a clerk, a ranger service, a conservation officer and a community engagement officer in order to deliver its activities and maintains an office in the Bishops Cleeve Community Centre. The Clerk administers the Charity on behalf of the Trust and liaises with official bodies, local residents, councillors, landowners, farmers and users of the Common.

Objectives

The objectives of the Charity are:

Activities

Public Benefit. When planning activities for the year the Trustees have considered the Charity Commission’s guidance on public benefit.

Land Management . The Trust facilitates the use of the Common by commoners with grazing rights on the 1965 Register of Common Land for register Unit CL20. It also manages Unit CL293 on which there are no grazing rights.

Conservation. The Trust has undertaken conservation in accordance with its agreement with Natural England to preserve the natural environment of the Common, so that future generations will enjoy at

1 There are Lords of the Manor for Southam and Bishop’s Cleeve.

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Cleeve Common Trust Annual Report 2022-23

least the same sense of space and tranquillity, with the diversity of plant and animal life, as do today's visitors. These activities have included:

Outdoor Recreation. The Trust seeks to promote physical health and mental well-being by enabling recreational use of the Common by myriad users including walkers, runners, cyclists, horse riders, dog walkers, golfers and kite flyers. Visitor numbers remain higher than pre-pandemic levels, suggesting that the benefits of outdoor recreation, brought to the fore during the pandemic, continue to be valued.

The Trust also facilitates use of the Common for organised events including walking, running, cycling orienteering and horse-riding. Many of these raise money for other charities. The Common is a favoured location for activities by local schools, youth groups and other not for profit organisations.

Education. The Trust was able to mount a nearly full programme of events for families and adult groups on the Common, all of which were well-supported. We hosted several visits by school year groups and provided educational input to one of these.

Commercial. The following commercial activities have taken place:

• Filming. The Trust licenses use of the Common for commercial video and still photo-shoots. Six small-scale events, including one for ITV Racing, brought an income of £550.

• Hacking Licences . The Trust licences horse riders to use areas of the Common that are not public rights of way. The demand for licences fell back from the peaks seen during the pandemic: 93 licences were issued, generating an income of £2,650.

• Assistance to Butterfly Conservation . The Trust decided to discontinue the practice of loaning the cattle to Butterfly Conservation, as they are needed to keep up grazing pressure on the Common itself, especially during the important autumn months. Income from this activity has therefore ceased.

Contribution of Volunteers. Volunteers have contributed to the work of the Charity in several ways:

• Work Parties. Monthly volunteer work parties, under the direction of the Conservation Officer, are now a regular feature and provide valuable practical support, particularly in clearance of scrub from areas that cannot be accessed with machinery and tasks such as replacing gates.

• Grassland Monitoring Volunteers . Monitoring volunteers were able to support the Conservation Officer in carrying out grassland condition assessment.

• Events Volunteers. Event volunteers supported the Community Engagement Officer in delivery of family events throughout the year.

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Cleeve Common Trust Annual Report 2022-23

• Voluntary Wardens . Volunteer wardens continued to visit the Common regularly to assist the rangers by checking livestock and boundaries, picking up litter, reporting antisocial activities and engaging with visitors.

Achievements and Performance

Management

Ranger Service. The Charity’s ranger service has provided 7 day a week cover in order to: manage livestock; carry out conservation and maintenance on the Common; and engage with visitors. During the year, the rangers responded to a number of emergencies involving members of the public; and they maintained a sound working relationship with the police and other emergency services to provide local knowledge and on-the-spot assistance.

Health & Safety. A full H&S audit carried out this year found that procedures are generally satisfactory but there is a lack of documentation to support this; remedial action is in place. Earlier work identified lone working as one of the most significant safety risks for our Rangers. In mitigation, the Trust has subscribed to an emergency alerting service via an app on the Ranger phone, and introduced a buddy system, for occasions when two or more people are working on the Common, but in different places.

Grazing Rights. The Trust supports the traditional rights of commoners to graze stock on the Common by ensuring that the land is securely fenced and by monitoring sheep and lambs for signs of illness or injury. A long section of fence line at the back of the Common was replaced in a collaborative project with the neighbouring farm. The Trust has renewed existing licences for grazing rights that are not in use by commoners.

Equipment. The Trust made two successful bids to Defra’s Farming in Protected Landscapes (FiPL) scheme to enable the purchase of equipment to help with grassland and scrub management: a pedestrian flail mower with grass collecting attachment, a heavy-duty forestry flail and a water bowser. Funding from Cotswolds National Landscape’s Access for All scheme supported the purchase of hand tools for our volunteer team.

Designation of Nature Zone. The Trust has designated the more remote areas of the Common as a Nature Zone. The primary consideration in this area will be conservation of wildlife, habitats and the sense of wilderness, which will take precedence over providing facilities for visitors. In particular, manmade infrastructure such as seats and bins will be avoided wherever possible.

Natural Flood Management. Gloucestershire Wildlife Trust led on a project to reduce the amount of surface water runoff and soil erosion from the Common by installing some low-key interventions such as grips and humps to divert water from the tracks onto the grass where it would soak away. The project has made a visible difference to the amount of water running down the tracks during heavy rain.

National Grid ‘Going Underground’ visual Impact Provision in the Cotswolds . National Grid are developing plans to remove up to 20 pylons and around 7 kilometres of overhead high-voltage line from the landscape, replacing it with electricity cables buried underground. The aim is to transform views along the Cotswold Way National Trail, as well as those from Belas Knap, the Winchcombe Way and Cleeve Common. The route crosses a narrow part of the Common. The Trust has been working with National Grid to address access and conservation issues arising from this major project.

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Cleeve Common Trust Annual Report 2022-23

Conservation

Management Plan. A new management plan was produced documenting proposed conservation management for the period 2023-2028.

Countryside Stewardship Agreement . The Trust continued to deliver its obligations under its Higher Tier Countryside Stewardship Agreement. The results from the grassland monitoring show that the Common is still under-grazed in places when measured against the indicators of success.

Cattle.

• The Trust’s herd of cattle stood at 22 Belted Galloways for most of the reporting period. The herd retained TB–free status throughout. The cattle were on the Common for the whole year, as the previous annual move to the Butterfly Conservation Reserve had been discontinued to maximise the grazing on the Common during the important autumn months. The Trust was able to facilitate the provision of an alternative grazier for the butterfly reserve.

• The first full year of the NoFence system of GPS-based virtual paddocks has been a great success and the cattle were able to graze the front of the Common above the Rising Sun Hotel for the first time in many years. Visitors have appreciated the cessation of electric-fenced paddocks and the Rangers have saved time searching for the cattle as they are easily located with the GPS.

Sheep. The Rangers provided support to three commoners who exercised their rights to graze sheep on the Common and two local farmers who were invited to turn out sheep on the Common to boost grazing numbers. During the grazing season from April to November sheep numbers were variable, peaking at around 1,100 in late summer. Regrettably, it was a bad year for dog attacks on sheep: 5 were killed and another 9 seriously injured. The Fire Service was called to the rescue of 2 young sheep which were stranded on a ledge halfway up the escarpment cliff face.

Heathland Management. Grazing and gorse cutting were carried out in the heathland parts of the Common in line with the Countryside Stewardship Agreement.

Scrub Management . The Rangers, a contractor and volunteers undertook scrub clearance during the winter in line with the Countryside Stewardship Agreement. Follow-up work was done on previously cut areas to help them return to grassland.

Flora and Fauna.

• Bryophyte surveys focussed on refining the survey methodology for two rare species which have been the subject of translocation work in previous years.

• Surveys of reptiles continued, particularly the adder, for which Cleeve Common is an important stronghold. Adder numbers have declined nationally but at present there is no evidence to suggest that the population on the Common is falling.

• Bird surveys by a local volunteer recorder showed a welcome resurgence of whitethroat and stonechat which became very scarce a few years ago. Local birders were treated to a rare visit by a group of dotterel on both spring and autumn passage, as well as the more regular ring ouzels and wheatears.

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Cleeve Common Trust Annual Report 2022-23

Community Engagement

Wardens’ Wood Project. The Trust was successful in an application for substantial funding from the Defra FiPL grant scheme. This enabled work to improve accessibility in Wardens' Wood, an area at the far south-eastern end of the Common. The car park surface was in a poor state of repair with inadequate drainage causing large puddles at the entrance. This was renovated and the entrance to the wood widened and levelled. A new interpretation board was designed and installed to help visitors orientate themselves. A waymarked route helped visitors navigate the woods, which are especially attractive in the bluebell season, with a new bench to create an additional rest point. The funding also provided a bespoke timber frame which can be converted into an events shelter, allowing a dry space year-round. Finally, a new barrier into Wardens' Wood from the main Common was installed to provide easier access for the Rangers to maintain the rides.

Car Park Charges. In the autumn the Cotswold Hub Company shared their plans to introduce car parking charges for non-patrons using their car park. The Trust decided to join this scheme, in order to avoid gridlock at the narrow entrance to the small Quarry car park on the Common, with consequent risk to visitors on foot, cycle or horseback. A membership scheme, to include a 12 month parking permit, will be offered for regular users of the Common. The charging regime came into effect in July 2023.

Defibrillator. A public access defibrillator (AED) has been installed at the Cotswold Hub. Public Hearts Cheltenham donated the device, with an external cabinet funded through Gloucestershire County Council’s ‘Build Back Better’ scheme. This is the only public defibrillator in the area.

Memorial Programme. A second Cotswold stone memorial wall has been constructed but requires time to settle before coping stones to carry the plaques can be fitted. Meanwhile, spaces on the lower tier of the existing wall have been used for additional plaques.

Social Media. Facebook remains the primary means of communicating with our online audience. Posts are well engaged with and often shared on local Facebook groups and pages. Our audience on Facebook and Instagram continues to grow. Activity levels on Twitter have declined since Twitter was renamed X, though it remains the best place to find wildlife news posted by local naturalists. Our eNews is sent out seasonally and now has a mailing list of over 400 people, most of whom open it. It is a useful way to send out more targeted news and to reach people who do not use social media.

Platinum Jubilee. The Common hosted a Beacon as part of the late Queen’s Platinum Jubilee celebrations in June. An estimated 200 people attended the event, on a fine and mild evening.

Halifax Memorial. A memorial stone has been erected with a plaque to commemorate the crew of a Halifax bomber aircraft which crashed on the escarpment in August 1944, while returning to base overnight. Tragically all 7 members of the mixed Canadian/British crew lost their lives. An unveiling ceremony was conducted in December; a larger commemoration event is planned for August 2024, the 80[th] anniversary of the incident.

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Cleeve Common Trust Annual Report 2022-23

Financial Review

The Trustees met regularly to consider the Charity’s activities in order to ensure that it was properly meeting its stated objectives and to consider ways in which it could improve its governance and outputs.

Funding

The principal sources of funding for the Charity for this period were:

The total incoming resources to the Trust amounted to £173,426. This was higher than usual, owing to one-off capital grants of £43,426, mostly secured under the Defra FiPL programme referred to previously. However, these grants did not cover the full cost of the projects and purchases, hence expenditure was also greater than usual at £178,870. The Trustees nevertheless consider the financial position as at 31 March 2023 to be sound.

Reserves

The Charity’s reserves comprise net current assets (excluding restricted or designated funds) plus investment assets. The reserves are set at a level that will cover the costs of the Charity for at least three years in order to continue its charitable and conservation activities should income fall short of expectations.

The balance regarded as free reserves as at 31 March 2023 was £355,601. In addition, the Charity held £154,735 in designated funds, set up to cover expenditure that will not be covered by anticipated income over the next 3 years; a further £71,214 is tied up in tangible fixed assets and livestock.

The primary purpose of the Charity is conservation which, by its very nature, is undertaken with a longterm view. Consequently, reserves need to be able to support activities into the medium term, in order to allow for any plans to be adjusted.

The level of reserves takes account of anticipated future income and its volatility, the environment, the risks faced by the Charity and the levels of known liabilities. The reserves are intended to provide for contingencies, to absorb setbacks, to mitigate risks and to be able to take advantage of change and opportunities. Reserves enable the Trust to fund unexpected expenditure or shortfalls in income, support working capital requirements and meet its liabilities as they fall due, as well as to underpin achievement of its plans and budgets.

Risk Management

The Trust maintains a risk register, which is reviewed regularly by the Board and Executive group. Mitigations are in place against the major risks. Our overall risk profile has improved, although we still carry significant risks on funding and staffing, where there is little scope for mitigation.

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Cleeve Common Trust Annual Report 2022-23

Finance . The following financial risks have been identified:

Staffing. The very small size of the Charity’s core Workforce (amounting to 3.25 full time equivalent posts) means that it is critically dependent on a few key individuals. The Trustees continue to explore options to address this risk. At the operational level, the business continuity plan developed for the COVID pandemic can be applied in other short-staffing eventualities.

Health & Safety . As noted above, further progress has been made to develop a comprehensive H&S system, with risk assessments for standard tasks and a robust monitor and review process to ensure that the objectives set out in the top-level H&S policy are being met in practice.

Data Protection. Although the Trust holds only a minimal amount of personal information, rarely extending beyond individuals’ contact details, Trustees are conscious of the requirements of GDPR and have appropriate safeguards in place. The wider issues of integrity and availability of information have been addressed through the use of cloud storage and careful control of access permissions.

Trustees’ Responsibilities in relation to the Financial Statements

The Charity’s Trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Charity’s Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of resources, of the Charity for that period. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the charities governing document. They are also responsible for

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Cleeve Common Trust Annual Report 2022-23

safeguarding the assets of the Charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the Charity and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Trustees on 21 November 2023 and signed on their behalf by:

P A Robson

Colonel (Retired) P A Robson Chairman

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Cleeve Common Trust Annual Report 2022-23

Independent Examiner's Report to the Trustees

I report on the accounts of Cleeve Common Trust for the year ended 31 March 2023, which are set out on pages 12 to 18.

Respective Responsibilities of Trustees and Examiner

The Charity's Trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”). The Charity's Trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner's Statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with my examination, no material matters have come to my attention, which gives me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

D Lillywhite

David Lillywhite Brunswick Business Services 9 Carrol Grove Springbank Cheltenham GL51 0PP

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Cleeve Common Trust Annual Report 2022-23

Statement of Financial Activities for the year ended 31 March 2023

Unrestricted Restricted Designated Total Total
Note Funds Funds Funds 2023 2022
Incoming
Resources
Donations 10,831 - - 10,831 6,392
Charitable activities 2 161,756 - - 161,756 126,713
Bank interest received 670 - - 670 1,618
Other income 3 169 - - 169 236
_ _____ _____ _ _
£173,426 - - £173,426 £134,959
_ _____ _____ _ _
Resources
Expended
Charitable activities 4 141,445 - 24,168 165,613 133,593
Charity management 5 13,257 - - 13,257 12,498
_ _____ ______ _ _
£154,702 - £24,168 £178,870 £146,091
_ _____ ______ _ _
Net incoming/(expended)
resources 18,724 - (24,168) (5,444) (11,132)
(Losses)/gains on
Investments (2,854) - - (2,854) 31,474
Transfer between funds (29,903) - 29,903 - -
Total funds brought
forward 441,048 - 149,000 590,048 569,706
_ _____ _ _ _
Total funds carried
forward £427,015 - £154,735 £581,750 £590,048
_ _____ _ _ _

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Cleeve Common Trust Annual Report 2022-23

Balance Sheet 31 March 2023

Note 2023 2022
Fixed assets
Tangible assets 6 56,314 32,501
Investments 7 367,676 320,530
_ _
423,990 353,031
_ _
Current assets
Livestock 14,900 13,990
Debtors 8 18,316 5,327
Cash at bank and in hand:
Current account 7,983 33,759
Deposit accounts 117,220 196,550
Cash 41 53
_ _
158,460 249,679
Current liabilities
Creditors due within one year 9 700 12,662
_ _
Net current assets 157,760 237,017
_ _
Total assets less current
liabilities £581,750 £590,048
_ _
Represented by:
Restricted funds - -
Unrestricted funds 10 581,750 590,048
_ _
Net Funds £581,750 £590,048
_ _
Approved by the trustees on 21 November 2023 and
signed on their behalf by:

P A Robson

Colonel (Retired) P A Robson

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Cleeve Common Trust Annual Report 2022-23

Notes to the Accounts for the year ended 31 March 2023

1 Accounting Policies

Basis of Accounting. The accounts have been prepared under the historical cost convention and in accordance with the provisions of the Statement of Recommended Practice (FRS 102) - Accounting and Reporting by Charities, the Charities Act and relevant accounting standards.

Change in Basis of Accounting. There has been no change to the accounting policies since last year.

Changes to Previous Accounts. No changes have been made to accounts for previous years.

Tangible Fixed Assets for use by Charity. These are capitalised if they can be used for more than one year and are shown on the balance sheet at cost less depreciation. Depreciation is calculated to write off the cost of the fixed assets on a reducing balance basis at the rate of 25% per annum.

Listed Investments. Listed Investments are shown on the balance sheet at their mid-market value.

Unlisted Investments. Unlisted Investments are shown on the balance sheet at their estimated market value.

Livestock. Livestock are valued at the lower of cost or net realisable value.

Recognition of Incoming Resources. These are included in the Statement of Financial Activities (SoFA) when:

Incoming Resources with Related Expenditure. Where incoming resources have related expenditure the incoming resources and related expenditure are reported gross in the SoFA.

Grants and Donations. Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.

Investment Income. Investment income is included in the SoFA when receivable.

Liability Recognition. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

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Cleeve Common Trust Annual Report 2022-23

Notes to the Accounts (continued)

2 Income from charitable activities 2023 2022
Rural Payments Agency grants 85,378 88,283
Other grants 43,463 4,158
Golf course licence 26,000 25,000
Media licences 550 1,250
Hacking licences 2,650 3,420
Dog walking licences 1,020 1,110
Grazing - 3,000
Sale of livestock 2,055 -
Events 640 492
_ _
£161,756 £126,713
_ _
3 Other income
Wayleaves 53 53
Miscellaneous 116 183
____ ____
£169 £236
____ ____
Expenditure on charitable
4 activities
Rangers' fees 50,896 49,380
Conservation consultancy fees 13,364 14,995
Education consultancy fees 8,810 8,450
Specialist consultancy 600 2,700
Clerk's fees 7,020 7,605
Livestock costs 5,976 5,627
General maintenance 3,856 2,848
Fencing 10,609 5,854
Infrastructure 5,144 9,870
Memorial wall 11,265 -
Warden's Wood project 14,010 -
Washpool project - 500
Electricity 688 189
Water 553 546
Vehicle fuel 5,813 5,099
Other vehicle expenses 5,690 5,083
Signage and education materials 1,670 3,343
Training 835 276
Bad debts - 235
Depreciation of tangible fixed assets 18,778 10,848
Loss on disposal of tangible fixed assets 36 145
_ _
£165,613 £133,593

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Cleeve Common Trust Annual Report 2022-23

Notes to the Accounts (continued)

Expenditure on charity
5 management 2023 2022
Clerk's fees 7,020 7,492
Office rent 1,586 1,454
Insurance 1,260 1,195
IT, telephone and office consumables 940 873
Accountancy fees 700 700
Other professional fees 622 -
Sundry expenses 1,129 784
______ ______
£13,257 £12,498
______ ______

6 Tangible fixed assets
Tangible fixed assets Vehicles and
equipment
Cost
At 1 April 2022 123,948
Additions 42,627
Disposals (1,934)
_
At 31 March 2023 £164,641
_
Depreciation
At 1 April 2022 91,447
Charge for the year 18,778
Eliminated on disposals (1,898)
_
At 31 March 2023 £108,327
_
Net book value
At 1 April 2022 £32,501
______
At 31 March 2023 £56,314
______

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Cleeve Common Trust Annual Report 2022-23

Notes to the Accounts (continued)

7 Investments Listed Unlisted
Investments Investments Total
Valuation at 1 April 2022 311,217 9,313 320,530
Additions 50,000 - 50,000
Losses (1,613) (1,241) (2,854)
_ _____ _
Valuation at 31 March 2023 £359,604 £8,072 £367,676
_ _____ _

Unlisted Investments comprise a holding of Defra Entitlements, which are required to claim Basic Payment Scheme grants. The value of the claim for 2022 was £16,018.

The Charity holds 91 Entitlements bought as follows: 42 in 2015, 17 in 2017, 30 in 2018 and 2 in 2021. The value of the Entitlements is calculated from the estimated market value per Entitlement. The BPS scheme comes to an end on 31 December 2023, after which the Entitlements will have no value. Delinked Payments, tapering each year, will continue until 2027.

Listed Investments comprise a holding of 1,569 Accumulation Units in the COIF Charities Investment Fund managed by CCLA Fund Managers Ltd. The value of the holding is calculated from the mid-market value at 31 March 2023.

8 Debtors
2023 2022
Trade debtors 3,676 1,269
Other debtors 14,640 4,058
_____ _____
£18,316 £5,327
_____ _____
Creditors due within one
9 year
Trade creditors - 11,962
Accruals 700 700
____ ______
£700 £12,662
____ ______

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Cleeve Common Trust Annual Report 2022-23

Notes to the Accounts (continued)

10 Unrestricted funds Balance at Ba
1 April Losses on 3
2022 Income Expenditure Investments Transfers
General unrestricted
funds 441,048 173,426 (154,702) (2,854) (29,903)
Designated funds 149,000 - (24,168) - 29,903
_ _ __ _ ______
£590,048 £173,426 £(178,870) (2,854) - £
_ _ __ _ ______

Designated funds

The Trustees have designated funds of £154,735 at the year end for various expenditure that they anticipate will not be covered by expected income in the near future:

Capital equipment replacement Conservation projects Infrastructure projects Governance review

11 Transactions with trustees

The trustees received no remuneration or payment of expenses.

12 Fees for examination of the accounts

2023

Independent examiner's fees for reporting on the accounts £625

Other fees paid to the independent examiner £75 ___

(End of Report)

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