THE CITY OF WINCHESTER TRUST LIMITED
REPORT OF THE COUNCIL AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 MARCH 2014
Chairman's Report
This annual report comments on projects and activities undertaken during the year. lt also contains the necessary statutory disclosures.
The City of Winchester Trust has recognised for some time that we need to recruit new members for two reasons. One is that the more members you have, the more you are able to influence planning strategy at a political level. lt is better for example to say that you represent 1000 members than 600. The other reason is that we need more ‘hands on’ volunteers to undertake interesting projects.
Coinciding with our concerns, Bo Priestley approached us to ask whether by any chance we needed help with Trust strategy. Bo has worked with many trusts, recognises their problems and thought we might be no exception. With a great deal of research over the last few months, Bo has produced an extensive action list particularly aimed at recruitment and heightening the awareness factor. We would be unable to undertake all her proposals immediately but propose to stretch them over a period of time and of course in order of priority, hence appealing for ‘hands on‘ volunteers.
Many of our Trust Council members have been considering the large projects that are being promoted in and around Winchester, many of the projects have been in the pipeline for some time. Silver Hill for example was being considered several years ago and then went quiet due to developer problems, no doubt exacerbated by the recent recession. The site now has a new developer, but they are employing the same architects which is good news. There have been some fairly major alterations to the pre-recession scheme, which appears to be a considerable improvement. At the time of writing adjustments are still taking place as a reaction to input after presentations from various bodies including Winchester City Council and the Trust.
Similarly, Barton Farm is another scheme, this one for 2000 houses, was approved by the Secretary of State about three years ago. Since this time, the scheme has evolved to planning application submission stage. The Winchester Trust has been involved all the way through the scheme, attempting to influence some aspects of the proposals from infra-structure, through to building design and heating strategy etc. The Architects and their team have produced a very comprehensive document and they have involved us and do react to some of our suggestions, so the time involved which is considerable, has not been wasted. It has certainly been an interesting and informative experience.
We have also been involved with the Station Approach area, which I am sure we all recognise, is a very poor advertisement for the City of Winchester, particularly when for many tourists, it is the first aspect of Winchester they see. The City Council has recently employed an Urban Planning firm to research and provide a strategy for improving this zone. We await their findings with interest.
We have been concerned with the Bushfield Camp land. It is recognised by the City Council as a potential for building an employment site, which would appear to mean an up-market industrial site? We are very concemed that it may be a site in full view of St Catherine's Hill as well as the South Downs National Park. It is also part of the setting to the St Cross area and therefore, in our view, is a particularly sensitive place to build anything. We continue to monitor the situation.
There are of course many other development proposals that are submitted each month to the City Council planners, and these are monitored on a weekly basis by four teams.
Each team assesses the weekly application list and then comment according to their collective opinion. The team comments are then processed and eventually submitted to the City Council. Shiona Carden who has been the overall Chair-person of the P.A.G. teams is retiring and we are looking to replace her with one or possibly two, so any volunteers gratefully received!
Judith Martin and l attended a Civic Voice function at Westminster Hall at which Laura Sandys, M.P. gave the key address. lt was her father who was the inspiration behind starting a Civic Society movement in the 1960's. Laura Sandys is now Chair of the All Party Parliamentary Group for Civic Societies. The Trust is a member of Civic Voice with its 290 Civic Society members. lt is an important Society to belong to, as it is able to promote issues at Parliamentary level. Their own statement reads “we work to make the places where everyone lives more attractive, enjoyable and distinctive and to promote civic pride".
John Beveridge has once again organised walks around Winchester. These are always popular and continue once a week through the summer months. lain Patton has organised some interesting venues for us to visit. Our first has just taken place at FAST, that is Farnborough Air Sciences Trust. lt was a fascinating glimpse of our expertise in the aeronautical world, sadly now disbanded. ln total contrast, we had a visit to Napoleon lll‘s chapel and tomb, a little bit of late flamboyant French architecture in Famborough. We look forward to other visits through the summer, if they are as good as the first, we are in for a treat.
There is obviously a great deal of pressure from developers and the Govemment to provide buildings and infrastructure with a planning system that sometimes seems inadequate - for example, to properly protect the city setting which is one of the key features that surrounds Winchester and gives the place much of its character. Our one main reason for undertaking the work we do is to attempt to agitate for proper protection of the precious historic city of ours.
Plans for the future
As l have stated before, many of our activities are on-going.
- 1. We continue to work with Hampshire County Council and Winchester District Council and developers on aspects of development in and around Winchester. We continue to be involved with ongoing issues conceming Barton Farm, Station Approach, Bushfield and Silver Hill. The Policy Group, chaired by Patrick Davies, spends considerable time discussing the issues that arise on these key developments. Our thanks go to committee members for their efforts.
- 2. We monitor proposals affecting the landscape and the infrastructure of the City.
- 3. We continue to arrange walks and talks to promote our City.
- 4. We continue to recruit new members. We have formed a new committee to progress the ideas promoted by Bo Priestley in her Communications Audit.
Secretariat
We wish to thank Mollie Francis for her work in relation to the maintenance and running of the Heritage Centre and to Janet Wiles for acting as personal assistant to the trustees and as Company Secretary.
Public Benefit
ln 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.
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 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 Objectives, Powers and Policies
The investment powers of the Council are given by the Memorandum and Articles of Association.
The investment objectives of the Trust are to preserve and enhance the real value of its investment portfolio to allow the charity the ability to finance its annual and long term activities.
The investments are to be managed on a Non-Discretionary basis by Rathbone Investment Management in consultation with representatives of the Trustees. The primary point of contact at the Trust should be the Honorary Treasurer. The investment objective is to achieve a balance between capital growth and income generation, with a medium risk profile.
Monetary investments are to be managed within policies set out by the Trust Council. The scope of the policies are:
- To be invested in listed investments
- Equity based investments should be designed to produce income while seeking capital growth and longer term security for the Trusts‘ investments;
- Fixed interest and variable interest investments are to produce the greatest total return in real terms.
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.
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 for the foreseeable future.
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 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.
During the period under review the Charity has complied with the provisions of the Charities Act 2011.
lndependent Examiners
Butler & Co. have been appointed as independent Examiners and will be proposed for re-appointment.
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
1st July 2014