Charity Registration No. 1121571
Company Registration No. 05883056 (England and Wales)
SHIPTON GORGE HERITAGE LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
SHIPTON GORGE HERITAGE LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M Boughton
A Crowe
C Huxtable
C Hewlett
J Scarlett
(Appointed 16 November 2022)
J Raybould
(Appointed 6 February 2023)
S McLaughlin
(Appointed 6 February 2023)
Secretary
M Boughton
Charity number
1121571
Company number
05883056
Registered office
Gullivers
Shipton Gorge
Bridport
Dorset
United Kingdom
DT6 4LP
Accountants
CB Reid Limited
Wadebridge House
16 Wadebridge Square
Poundbury
Dorchester
Dorset
DT1 3AQ
SHIPTON GORGE HERITAGE LTD
CONTENTS
Page
Trustees' report
1 - 2
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 11
SHIPTON GORGE HERITAGE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2023
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 July 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are to preserve the historical, architectural and constructional heritage that may exist in and around the parish of Shipton Gorge, Dorset in buildings (including any structure or erection and any part of a building so defined) of particular beauty or historical, architectural or construction interest. The charity works for the protection and conservation of the environment in and around the parish of Shipton Gorge, Dorset for the benefit of the public.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake:

1) Stewardship and management of the Saunders Richardson Wood in the tenth year of a 999 year lease, to retain it as a managed but unspoilt native woodland and a wildlife habitat and to increase diversity of species and pollinators.

2) To continue to maintain and improve the Orchard in Brook Street as an amenity for the village residents and visitors.

3) To hold community events to increase local resident’s interest and involvement in the woodland. Fundraising through events and other means including raising funds via website portals and donations.

Achievements and performance

1) Continued general maintenance of fruit trees, borders and grass in The Orchard in Brook Street and on-going review of the management of the land.

2) The trustees were active in ensuring continued compliance with the covenants in the lease of the Saunders Richardson Wood in Smacombe Lane. Continued maintenance of the boundary hedges and general conservation and maintenance work in the wood was carried out. A review of the Woodland Management Plan was carried out and advice sought on ways to increase diversity of species with particular emphasis to those that attract pollinators into the wood and the surrounding area. Very little tree felling was carried out during the year. The glades were improved and minor changes to the casual walkway through the wood on the eastern side to improve safety. The young saplings and specimen trees planted the previous year were tended in order to provide more mid canopy cover in the wood. All work was carried out in a way that would cause the least disruption to animals and plants.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to two year’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Reserves held at 31 July 2023 were £43,520.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

SHIPTON GORGE HERITAGE LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
Structure, governance and management

The charity is a company limited by guarantee. The company is constituted under a Memorandum of Association dated 20 July 2006 and is a registered charity (charity number 1121571). The company was given its charity registration number on 12 November 2007. Its registered address is Gullivers, Shipton Gorge, Bridport, Dorset, DT6 4LP and its company number is 05883056.

 

There have been no changes in the objectives since the last trustees' report.

 

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

M Boughton
A Crowe
C Huxtable
C Hewlett
J Scarlett
(Appointed 16 November 2022)
J Raybould
(Appointed 6 February 2023)
S McLaughlin
(Appointed 6 February 2023)

Trustees/directors are recruited when required to fulfil the aims of the trust. The Articles of Association state that the directors may at any time appoint as a director any person willing so to act. That person must retire at the next annual general meeting, but then may stand for reappointment. Members of the trust may propose the election of a director which is then approved at the next annual general meeting.

The Trustees' report was approved by the Board of Trustees.

M Boughton
Trustee
Dated: 14 November 2023
SHIPTON GORGE HERITAGE LTD
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SHIPTON GORGE HERITAGE LTD FOR THE YEAR ENDED 31 JULY 2023
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shipton Gorge Heritage Ltd for the year ended 31 July 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's Trustees, as a body, in accordance with the terms of our engagement letter dated 7 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Shipton Gorge Heritage Ltd and state those matters that we have agreed to state to the charity's Trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shipton Gorge Heritage Ltd and the charity's Trustees as a body, for our work or for this report.

It is your duty to ensure that Shipton Gorge Heritage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Shipton Gorge Heritage Ltd. You consider that Shipton Gorge Heritage Ltd is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of Shipton Gorge Heritage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

CB Reid Limited
14 November 2023
Chartered Accountants
Wadebridge House
16 Wadebridge Square
Poundbury
Dorchester
Dorset
DT1 3AQ
SHIPTON GORGE HERITAGE LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
2
2,190
20,609
Charitable activities
3
2,513
1,290
Total income
4,703
21,899
Expenditure on:
Charitable activities
4
3,836
5,415
Net income for the year/
Net movement in funds
867
16,484
Fund balances at 1 August 2022
42,653
26,169
Fund balances at 31 July 2023
43,520
42,653

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
SHIPTON GORGE HERITAGE LTD
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 5 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
9
17,259
17,260
Current assets
Stocks
10
-
60
Debtors
11
682
577
Cash at bank and in hand
25,880
25,009
26,562
25,646
Creditors: amounts falling due within one year
12
(301)
(253)
Net current assets
26,261
25,393
Total assets less current liabilities
43,520
42,653
Income funds
Unrestricted funds
43,520
42,653
43,520
42,653

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 14 November 2023
M Boughton
Trustee
Company registration number 05883056
SHIPTON GORGE HERITAGE LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
1
Accounting policies
Charity information

Shipton Gorge Heritage Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Gullivers, Shipton Gorge, Bridport, Dorset, DT6 4LP, United Kingdom.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
SHIPTON GORGE HERITAGE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 7 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

 

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

 

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

 

Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land
not depreciated
Plant and equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

SHIPTON GORGE HERITAGE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 8 -
1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

SHIPTON GORGE HERITAGE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 9 -
2
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
2,190
20,609
3
Charitable activities

Unrestricted

funds

Unrestricted

funds

2023
2022
£
£
Other income
2,513
1,290
4
Expenditure on charitable activities

 

 

2023
2022
£
£
Share of support costs (see note 5)
2,664
4,563
Share of governance costs (see note 5)
1,172
852
3,836
5,415
SHIPTON GORGE HERITAGE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 10 -
5
Support costs
Support costs
Governance costs
2023
2022
£
£
£
£

Repairs & maintenance

1,231
-
1,231
3,911

Hire of hall

110
-
110
-

Fundraising expenses

1,170
-
1,170
508

Sundry expenses

152
-
152
143

Depreciation

1
-
1
1

Accountancy fees

-
312
312
258

Insurance

-
847
847
581

Companies House

-
13
13
13
2,664
1,172
3,836
5,415
Analysed between
Charitable activities
2,664
1,172
3,836
5,415
6
Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

During the year, 4 trustees received reimbursement of expenses amounting to £1,092 (2022 - 2 trustees received £611).

7
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
8
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

SHIPTON GORGE HERITAGE LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 11 -
9
Tangible fixed assets
Freehold land
Plant and equipment
Total
£
£
£
Cost
At 1 August 2022
17,258
110
17,368
At 31 July 2023
17,258
110
17,368
Depreciation and impairment
At 1 August 2022
-
108
108
Depreciation charged in the year
-
1
1
At 31 July 2023
-
109
109
Carrying amount
At 31 July 2023
17,258
1
17,259
At 31 July 2022
17,258
2
17,260
10
Stocks
2023
2022
£
£
Finished goods and goods for resale
-
60
11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
404
305
Prepayments and accrued income
278
272
682
577
12
Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
301
253
13
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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