THE CITY OF WINCHESTER TRUST LIMITED
REPORT OF THE COUNCIL AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2008
Chairman's Report
This annual report comments on projects and activities for which budgetary provision was made during the financial year. Inevitably there are some items which did not reach completion and will be carried forward. The report contains the necessary statutory disclosures.
Projects
The Trust’s Design Award competition was renewed and attracted many entries in 2007. The judging panel, chaired by George Ferguson RIBA, reported in a presentation held at Lanterns School, which was one of the successful entries. The presentation was a remarkable networking occasion which highlighted not only the work of the Trust but the high quality of local design.
Our efforts to persuade the Church Commissioners and the local authorities that Bushfield Down should be managed as downland were not rewarded. The Commissioners were unable to support the proposal. We maintain a watchful eye.
Prodigious work took place in preparation of Andrew Rutter’s material for publication as a book. This proved to be a much greater undertaking than was foreseen but great progress has been achieved and publication is forecast in the next financial year (2008 - 09).
The Policy Group gave lengthy consideration to the City Council’s Core Strategy “Issues and Options" document, within the Winchester District Development Framework, particularly about transport issues, and responded in detail. Two high profile lectures were held by the Trust. The first given by Paul Grover from the Solent Centre for Architecture and Design, the second given by Michael Carden on the topic of Heritage Town Status for Winchester.
Activities
The Planning Appraisal Group, led by Shione Carden, has been hard pressed throughout the year by the volume of applications and by the increasing desire of developers to seek the Trust’s views of their proposals. This second activity also involves members of the Trust Council. These presentations are welcomed as an avenue of influence and an acknowledgement of the value of the Trust’s comments.
Three members of the Council conducted a review of the Planning Appraisal Group’s operation. Their report to the Council expressed satisfaction about the Group’s process and outcomes but recommended that the Trust should strive to provide backup and support for the group Chairwoman and plan for succession in that post and in panel members.
The well supported programme of summer walks continued to attract non members as well as members. The walks give differing aspects and comments on the City and provoke discussion among those present.
TrustNews, which benefited from the change to A5 format, has passed into the supervision of David Marklew. His innovations have included the use of colour photographs.
Transfer of the Trust’s collection of slides to computer based digital format was completed and they are available to members.
As part of the celebrations of the Trust’s 50th Anniversary, on 3rd June 2007 the gardens of 11 members in the City were opened to fellow members and their guests. Teas were available at several gardens and some 1,000 visits were recorded. Useful funds were generated by donations and teas.
Further funds resulted from the sale of Christmas cards, included two popular new ones donated by Patricia Spink and Keith Leaman. This is a most successful venture.
“Time Gentlemen Please”, a history of the City's pubs, hotels and breweries by Phil Yates, has proved a runaway success. Launched in March 2007 with a print of 1,000, its sales took off so well that the second edition was published in November 2007 with another 1,000 copies. Sales continued well within the period of this report and beyond. A generous gift by Phil Yates for the Trust’s 50th anniversary, the book has brought considerable benefit to the Trust.
Two efforts to revive organised activities for members brought differing results. A visit to Oxford, planned with the assistance of the Oxford Civic Society, had to be cancelled for lack of support. In contrast, a series of winter lectures in the Heritage Centre achieved considerable success, being well supported.
Plans for the future
To continue to work with Hampshire County Council and Winchester City Council on the development of the Winchester Movement and Access Plan.
To encourage improvements in the streetscape of the City, and the broader landscape, by the formation of a Landscape Group.
To continue development of a programme of visits for members to places of interest within the City and beyond, such activities being self-financing.
To work to encourage and assist the City Council in increasing design skills available to the Development Control department.
To develop recruitment of new members.
To seek means of revival of the Chippendale Project, working with local schools. Changes in school programmes and emphasis in recent years brought earlier liaison to an end.
To implement succession planning for senior positions in the Trust management.
Like all voluntary organisations, the Trust depends on members for its activities and the extent of those activities is controlled by the number of members involved and their available time. Pat Edwards, who retired as Chairman at the Annual General Meeting in September 2007, worked tirelessly for the Trust and, but for her untimely death in November 2007, would have continued to do so. She is a hard act to follow and I would have valued her advice, which was always available. However, I receive tremendous support from Michael Carden and Robin Merton, Vice-Chairmen, from Peter Radcliffe, our tireless Treasurer and from Vicky Feldwick, our Secretary.
Sir Peter Ramsbotham retired as President at the September meeting after many years of support and encouragement of all the Trust’s activities and his wise and measured advice was a great support. He kindly agreed to become our Patron. His successor, His Honour judge Christopher Clark QC. has entered the role with enthusiasm and his advice and support is most welcome. So many more keep the Trust running and cannot be thanked here but mention must be made of the substantial work of Norman and Ann Roberts who managed the Design Awards through with calm thoroughness. As always, more help is always needed.
GOVERNING DOCUMENT
The City of Winchester Trust Ltd. (the Trust) was founded in 1957 and incorporated as a company limited by guarantee in 1958. As such it has no share capital. The liability of individual members is limited to a sum not exceeding five pence.
It is governed by its Memorandum and Articles of Association, which was last amended in 2000. The Trust is registered as Company number 00609812 and Charity Number 251798.
ORGANISATIONAL STRUCTURE
The Council has responsibility for the management and control of the Trust. However certain financial functions are delegated to the Finance and Resources Committee, and other panels and groups are formed and their leaders appointed by Council for specific purposes, projects and continuing activities. Council members are elected for three years at the Annual General Meeting but may stand for re-election at the end of their term.
Council members act as trustees of the charity and directors of the company limited by guarantee.
THE OBJECTS OF THE TRUST
The Trust's objects are fully described in the Memorandum of Association. They can be summarised as follows:
To seek to conserve the character of the City of Winchester and its surrounding area by:
- Preserving and protecting its buildings, spaces and artefacts;
- Sponsoring and encouraging new building, redevelopment, landscaping and conservation in accordance with the highest architectural standards;
- Promoting awareness of the above.
INVESTMENT POWERS AND POLICIES
The investment powers of the Council are given by the Memorandum and Articles of Association.
Property investment is either used for charitable purposes or to produce income to fulfil those charitable purposes. This means that the Heritage Centre is used for the operation of the Trust, and the two small flats are let to provide income for the Trust because membership subscriptions alone would not generate enough income to enable the Trust to carry out all its projects and activities.
Monetary investments are invested in listed investments. The policy applicable to equity-based investment is designed to produce income while seeking capital growth and longer-term security for the Trust’s investments. The policy applicable to fixed interest and variable interest investment is to produce the greatest income whilst ensuring that there is no loss of capital. Monetary investments are managed by an independent advisor within policies set out by the Council.
PROPERTY REVALUATION POLICY
The Trust adopts the policy of revaluing its property every five years, commencing 31 March 2003.
RESERVES POLICY
The annual accounts show the assets and liabilities attributable to the funds by type and which are approved by the Council. The Council plans its expenditure within available resources whilst maintaining reserves which gives the Trust flexibility to achieve its aims.
RISK MANAGEMENT
The Council has reviewed the major risks to which the Trust is exposed, as identified by the Council, and is satisfied that systems are in place to mitigate those risks.
COUNCIL RESPONSIBILITIES
It is a requirement of company law for the Council to prepare financial statements for each accounting period. They must give a true and fair view of the state of affairs of the Trust and of the surplus or deficit for that period. The Council must:
- Prepare the financial statements on the basis that the Trust is a going concern;
- Select appropriate accounting policies and apply them consistently;
- Make judgements and estimates that are prudent and reasonable;
- Disclose whether any material departures have been made from these policies.
The Council is responsible for keeping proper accounting records which should be able to disclose at any time the financial position of the Company and enable the Council to ensure compliance with the Companies Act I985. The Council is also responsible for safeguarding the assets of the Trust and for taking reasonable steps for the prevention and detection of fraud and other financial irregularities.
ACCOUNTANTS
Butler & Co. have been appointed as Reporting Accountants and will be proposed for re-appointment.
SMALL COMPANY STATUS
This Report has been prepared in accordance with the special provisions of Part VII of the Companies Act, 1985 relating to Small Companies.
On behalf of the Council
signed I A D Patton
Chairman
1st July 2008