THE CITY OF WINCHESTER TRUST LIMITED
REPORT OF THE COUNCIL AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2012
Chairman's Report
This annual report comments on projects and activities undertaken during the year. It also contains the necessary statutory disclosures.
Projects
Some time ago, the Trust, in conjunction with the Hampshire Gardens Trust employed a planning firm to undertake a comprehensive report on Winchester’s setting. The purpose of the report was to emphasise the importance of the setting and to influence the strategic planning proposals being produced by the Winchester City Planning Department.
Recently, with the changing Govemment policies, this whole question of development is being revisited by the City Planning Department. The Govemment requires Wmchester to accept 4,000 new houses, so the debate obviously revolves around where to build them.
The Trust has always taken up the position that the setting is an extremely valuable and precious asset to the City. So far the routes in and the immediate countryside around, remain untainted by development, so any expansion into these areas could easily be detrimental, thereby devaluing Winchester.
The original setting document requires updating. This would be a lengthy, expensive proposition, and impossible to achieve in the time frame set by the current planning requirements. The Trust and the Hampshire Gardens Trust therefore decided to produce a short, concise report, reminding all those concerned, not to forget how valuable an asset the setting is to the City.
The Trust has always been concerned about the possibility of any development on Bushfield. It is currently viewed by the Local Authority as an opportunity site. The Trust has been concerned at the way in which this site could evolve, so much so that it was decided to employ a planning consultant to prepare a report setting out the reasoning that lie behind our concern over developing such a site, The Trust overview is described under item 10 of ‘Winchester and its Setting’.
Because of the Trust’s concern over the 4,000 houses that are required to be inserted somehow into Winchester, we decided to support Winchester Action on Climate Change (WinACC) and Paul Bulkeley in their efforts to promote potential sites that they could identify within the City boundary. The power point presentation identified the potential to absorb 2,000 units of the housing requirements. This presentation, together with Paul Bulkeley’s able commentary, has been delivered to a number of interested associations including local councillors.
Dr Vicky Feldwick and Sharon Watson promoted and then organised the “Heart of a City" awards. This proved very popular and generated a great deal of interest with members and the general public. Not only did the Hampshire Chronicle help with the initiative and report on the results, but was also given a Civic Voice award for Partnership Working.
Winchester Action on Climate Change (WinACC) applied for and managed to obtain a grant to undertake a number of initiatives concerned with heat conservation. The grant caught Winchester Action on Climate Change (WinACC) unawares as they were not an incorporated body at the time, which they needed to be to receive the grant. The Trust was approached and because we felt this was such a worthwhile project, decided to help by using our company status. So the financial sum you see in the accounts is passing through our books!
Plans for the future
Many of the projects we either participate in or take the initiative on are on going from year to year as they involve the future of Winchester which of course is always evolving one way or another, so a continuous monitoring of the situation is always a priority. As already stated we are involved in a number of ongoing initiatives the most important of which are:
- 1. WINCHESTER AND ITS SETTING.
We are likely to produce further papers on this subject as we feel this subject is so important and will almost certainly require further examination as certain areas around VVinchester come under scrutiny for development. - 2 VISION FOR WINCHESTER.
We have also been contributing and continue to contribute to the initiative run by the Town Forum with proposals that we consider could strengthen and maintain the medium and long term future well being of the City, to preserve its character and attractiveness as a place to live, work and visit as well as considering its economic security.
The biggest concern that dominates the issues being debated above is housing. Central govemment policy is pressing local authorities to build more housing. In fact as already stated, Winchester has to consider 4000 new houses, which means additional impact on roads, transport, schools etc. So some of the debate covered under the above headings revolves around the problem of where do you build these houses, at what density, how do you link the houses to the town centre and so on.
AWARDS
We generally attempt to run the Trust award scheme for the various categories of contributions to the built environment every two years. Z912 should have been the year! Unfortunately we have been unable to find a suitable organiser to mastermind what is a difficult process to undertake. We are hoping to run this popular, prestigious award scheme next year
WINCHESTER EXCAVATIONS
As many of you know Winchester had one of the most intensive archaeological excavations of any city in this country run by Professor Martin Biddle in the l970’s. The findings are being collated in a series of substantial books some of which are already published. Each book requires funding. As a trust we do consider it important to try and contribute towards these publications.
Public Benefit
In setting objectives for the year, the Trust Council has given careful consideration to the Charity Commission’s general advice on public benefit and is mindful of the need to report on how its aims have been achieved during the year. The Trust was founded in 1957 for the purposes and objects set out later in this report and continues to carry out its work in serving the public interest.
Appreciations
First of all I would like to thank all those members who support the Trust, as I have stated several times in the Trust magazine your help and support is invaluable, as the greater the membership the more power the Trust has when it comes to lobbying. It is difficult to single out individuals who give so much of their time, because they are many, and it never ceases to amaze me how much they give to the projects they undertake so thank you to both council members and to members for donating so much of their time. Having said it is difficult to single out individuals there are two people without which it would become a formidable task to run the Trust, Peter Radcliffe our Treasurer , and Michael Carden, Vice Chairman, my thanks to both of them for their wise counsel.
Goveming 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 reelection 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
lt 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 2006. 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.
Independent Examiners
Butler & Co. have been appointed as Independent Examiners and will be proposed for reappointment.
Small Company Status
This Report has been prepared in accordance with the special provisions of Part 15 of the Companies Act, 2006 relating to Small Companies.
On behalf of the Council
signed K Leaman
Chairman
3rd July 2012