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REGISTERED COMPANY NUMBER: 04105585 (England and Wales)
REGISTERED CHARITY NUMBER: 1108462














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Troy Wharf Trust Limited

The Troy Wharf Trust Limited

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Report of the Trustees 1

Statement of Financial Activities 2

Balance Sheet 3

Notes to the Financial Statements 4 to 8

The Troy Wharf Trust Limited (Registered number: 04105585)

Report of the Trustees
for the Year Ended 31 December 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04105585 (England and Wales)

Registered Charity number
1108462

Registered office
Troy Wharf
Old Uxbridge Road
West Hyde
Rickmansworth
Hertfordshire
WD3 9YB

Trustees
S M Pike Director
T J Woodbridge Director

Company Secretary
S M Pike

Approved by order of the board of trustees on 13 September 2024 and signed on its behalf by:





S M Pike - Trustee

The Troy Wharf Trust Limited

Statement of Financial Activities
for the Year Ended 31 December 2023

31.12.23 31.12.22
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 6,000 8,804

Investment income 3 163 29
Total 6,163 8,833

EXPENDITURE ON


Other 4,513 4,100

NET INCOME 1,650 4,733


RECONCILIATION OF FUNDS
Total funds brought forward 89,033 84,300

TOTAL FUNDS CARRIED FORWARD 90,683 89,033

The Troy Wharf Trust Limited (Registered number: 04105585)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Unrestricted Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 8 70,000 70,000

CURRENT ASSETS
Debtors 9 1,760 1,595
Cash at bank 19,253 17,738
21,013 19,333

CREDITORS
Amounts falling due within one year 10 (330 ) (300 )

NET CURRENT ASSETS 20,683 19,033

TOTAL ASSETS LESS CURRENT LIABILITIES 90,683 89,033

NET ASSETS 90,683 89,033
FUNDS 11
Unrestricted funds 90,683 89,033
TOTAL FUNDS 90,683 89,033

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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


The financial statements were approved by the Board of Trustees and authorised for issue on 13 September 2024 and were signed on its behalf by:





S M Pike - Trustee

The Troy Wharf Trust Limited

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

All figures are stated in £.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Plant and machinery - 25% on reducing balance

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors 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.


The Troy Wharf Trust Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


1. ACCOUNTING POLICIES - continued

Financial instruments
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2. DONATIONS AND LEGACIES
31.12.23 31.12.22
£    £   
Donations 6,000 8,804

3. INVESTMENT INCOME
31.12.23 31.12.22
£    £   
Deposit account interest 163 29

4. SUPPORT COSTS
General
administrative Governance
expense costs Totals
£    £    £   
Other resources expended 4,087 426 4,513

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£   
INCOME AND ENDOWMENTS FROM
Donations and legacies 8,804

Investment income 29
Total 8,833

EXPENDITURE ON


Other 4,100

NET INCOME 4,733


RECONCILIATION OF FUNDS
Total funds brought forward 84,300


The Troy Wharf Trust Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£   
TOTAL FUNDS CARRIED FORWARD 89,033

7. AVERAGE NUMBER OF EMPLOYEES

0

8. TANGIBLE FIXED ASSETS
Plant and Narrowboat
machinery "Mimas" Totals
£    £    £   
COST
At 1 January 2023 and 31 December 2023 1,120 70,000 71,120
DEPRECIATION
At 1 January 2023 and 31 December 2023 1,120 - 1,120
NET BOOK VALUE
At 31 December 2023 - 70,000 70,000
At 31 December 2022 - 70,000 70,000

The historic wooden narrowboat "Mimas" was a restoration project. It was donated to the charity as an item of little value but after restoration it was revalued to £70,000 in 2010 by the trustees who considered they had sufficient knowledge to make that valuation having taken independent advice. The trustees still consider its value to be £70,000 and this is its insurance value.

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Prepayments 1,760 1,595

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 330 300

11. MOVEMENT IN FUNDS
Net
movement At
At 1.1.23 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 89,033 1,650 90,683

TOTAL FUNDS 89,033 1,650 90,683

The Troy Wharf Trust Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 6,163 (4,513 ) 1,650

TOTAL FUNDS 6,163 (4,513 ) 1,650


Comparatives for movement in funds

Net
movement At
At 1.1.22 in funds 31.12.22
£    £    £   
Unrestricted funds
General fund 84,300 4,733 89,033

TOTAL FUNDS 84,300 4,733 89,033

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 8,833 (4,100 ) 4,733

TOTAL FUNDS 8,833 (4,100 ) 4,733

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.1.22 in funds 31.12.23
£    £    £   
Unrestricted funds
General fund 84,300 6,383 90,683

TOTAL FUNDS 84,300 6,383 90,683

The Troy Wharf Trust Limited

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 14,996 (8,613 ) 6,383

TOTAL FUNDS 14,996 (8,613 ) 6,383

Included within general funds is a revaluation reserve of £70,000 (2021 :£70,000).

12. RELATED PARTY DISCLOSURES

The charity received donations of £6,000 from a company under the control of a trustee.