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Cabinet
29 June 2021
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Report By: |
Chief Operating Officer
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Title of Report: |
Ashdown Forest Trust Fund
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Purpose of Report: |
RECOMMENDATIONS
Cabinet is recommended to note the report and the Ashdown Forest’s Trust Income and Expenditure Account for 2020/21 and Balance Sheet as at 31 March 2021.
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1. Background
1.1. The Ashdown Forest Trust, a registered charity, was set out by declaration of Trust in 1988. East Sussex County Council is the trustee and agrees grants made to the Ashdown Forest Conservators, from the Ashdown Forest Trust Fund.
2. Supporting Information
2019/20 Accounts
2.1. Subsequent to the 2019/20 accounts being approved, the independent Examination process has now been completed in accordance with Section 145 of the Charities Act 2011.
2.2. The Examiner’s report is attached as Appendix A. It does not identify any issues that require any further action by the Council as the trustees.
2020/21 Accounts
2.3. The Trust’s Income and Expenditure Account and Balance Sheet are set out in the attached Appendix B. The Income and Expenditure Account shows a surplus in 2020/21 of £4,490, as a result of no legal cost being incurred during the year.
2.4. The main source of income to the Trust relates to the rent from the Royal Ashdown Golf Club at £70,000 per annum. The only other income this year was from bank interest.
2.5. The expenditure mostly relates to the £65,100 grant paid to the Ashdown Forest Conservators. The remaining expenditure was for audit fees.
2.6. The accumulative General Reserve totalled £162,693 at 31 March 2021.
2.7. A formal annual report and statement of accounts will be compiled in accordance with the Charity Commission’s Statement of Recommended Practice (SORP) by the end of January 2022, once the Independent Examiner report has been received.
3. Conclusion and Recommendation
3.1. The trust made an operating surplus of £4,490 during 2020/21. The General Reserve as at 31 March 2020 amounts to £162,693. This fund is available to finance expenditure which meets the Trust’s objectives.
3.2. Cabinet is recommended to note the final accounts for the Ashdown Forest Trust.
PHIL HALL
Chief Operating Officer
Contact Officer: Andy Fowler
Tel No. 07825 552640
Email: andy.fowler@eastsussex.gov.uk
LOCAL MEMBERS
Councillor Galley, Howell, Lunn and Georgia Taylor
Appendix A
Appendix B
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ASHDOWN FOREST TRUST |
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Income and Expenditure Account for the year ended 31 March 2021 |
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2019/20 |
Income |
2020/21 |
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£ |
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£ |
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0 |
Fees |
0 |
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(70,000) |
Rent of Golf Course |
(70,000) |
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(452) |
Bank Interest |
(130) |
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(70,452) |
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(70,130) |
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Less Expenditure |
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0 |
Other |
0 |
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65,100 |
Conservators of Ashdown Forest - Grants & wayleave transfer |
65,100 |
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479 |
Fees |
540 |
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(4,873) |
(Surplus)/Deficit |
(4,490) |
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Balance Sheet as at 31 March 2021 |
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2019/20 |
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2020/21 |
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£ |
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£ |
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1,200,000 |
Fixed Assets: Land and Buildings |
1,200,000 |
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Current Assets: |
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158,783 |
Cash at Bank |
163,333 |
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Current Liabilities: |
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(480) |
Sundry creditors |
(540) |
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1,358,303 |
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1,362,793 |
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Representing: |
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Reserves: |
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1,200,100 |
Endowment Fund |
1,200,100 |
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158,203 |
General Reserve |
162,693 |
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1,358,303 |
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1,362,793 |
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