|
The
Annual Report
DERWENT VALLEY TRUST
Registered No 3182660
Registered Charity No: 1058609
UNAUDITED
REPORT AND FINANCIAL STATEMENTS
– year ended –
31st
MARCH 2007
Company number: 3182660
Registered charity number: 1058609
Registered: 3 April 1996 in England and Wales
Registered Office: 10-11 St
James Court
Friar Gate
Derby
DE1
1BT
Directors: B
D Waters – Chairman
M Benten
I Coope
R M Faithorn
G L Knight
Councillor J M Sanders
M A Shuttleworth
Joint Secretaries: C
A Hallam F.C.I.S.
S
F Marshall
Treasurer: J
R Marjoram
Bankers: National
Westminster Bank plc, Derby
Solicitors and Company Secretariat: Robinsons, Derby
Accountants: Smith
Cooper, Derby
Members: G
L Knight
S
F Marshall
The
liability of the members is limited to £1
Website: www.nationalheritagecorridor.org.uk
REPORT OF THE DIRECTORS
YEAR ENDED 31ST MARCH 2006
Directors’ report
The directors present their annual report and the unaudited
financial statements for the period ended 31st
March 2007.
Objects
The objects of the Trust are, among other things, to
identify, preserve and enhance for the public benefit the area comprised in the
Derwent Valley in Derbyshire and abutment area and whatever natural,
historical, cultural, geological, architectural and constructional heritage may
exist in the area of benefit.
Principal activities
The Trust has continued to develop the Derwent Valley Heritage Way by means of promotion and
supporting interpretation. The way is
described on the Trust’s web site and in a guide book published by Jarrold.
The Directors appreciate:
·
the
original financial support for the Way from emda, Environment Agency, Lafarge
Cement UK and WREN
·
financial
support in kind by the county, local and parish councils within the area of the
Trust
·
the
substantial contribution in kind by Robinsons Solicitors for legal advice,
company secretarial and ongoing services
·
the
ongoing services of Edward Hallam in relation to the Trust’s web site www.nationalheritagecorridor.org.uk.
The Trust’s
achievements since April 2006 to March 2007 are:
- The
unveiling of interpretation panels at Darley Abbey and Little Chester,
supported by the Trust.
- The
sale of 50 badges recognising the achievement of walking the complete
route. The Trust is grateful to
Mark Warner for recording the achievements and selling the badges.
- Amber
Valley District Council published a new leaflet for tourist offices based
on the Derwent Valley Heritage Way
- Ongoing
support to the Derwent Valley Mills World Heritage Site and the Derwent
Valley Rural Transport Partnership.
The Trust has written to the Department of Transport supporting the
concerns about the level of service that could result from the re-tendering
of the Rail Franchise.
- Work has continued slowly on developing a
cycleway along the valley. This is
delayed pending a decision by the local authorities on their priorities
for a cycleway. This will not be
completed until late in the financial year
2007-08.
- The
main expenditure of restricted funds was to renew the trade mark “The
National Heritage Corridor” for a further 10 years.
The Trust’s targets
for 2007/2008 are:
- Improvement
works as necessary along the route of the Derwent Valley Heritage Way.
- Support
for a pedestrian counter at the Cromford canal.
- Continue
to interpret the Derwent Valley along the Heritage Way.
- Continue
support to the World Heritage Site and the Rural Transport Partnership.
- Continue
to investigate the possibility of a cycle and bridle way along the Derwent Valley.
Directors
The following were both directors and charity trustees of
the Company during the year:
B D Waters
M Benten
I Coope
R M Faithorn
G L Knight
Councillor J M Sanders
M A Shuttleworth
B D Waters - Chairman I
Coope - Director
Statement of directors’ responsibilities
The trustees are responsible for
preparing the Annual Report and the financial statements in accordance with
applicable law and regulations.
Law applicable to charities in England and Wales requires
the trustees to prepare financial statements for each financial year which give
a true and fair view of the charity’s financial activities during the year and
of its financial position at the end of the year. In preparing these financial statements, the
trustees are required to:
- select
suitable accounting policies and then apply them consistently;
- make
judgments and estimates that are reasonable and prudent;
- prepare
the financial statements on the going concern basis unless it is
inappropriate to presume that the charity will continue in operation.
The trustees are responsible for
keeping accounting records that disclose with reasonable accuracy the financial
position of the charity and which enable them to ascertain the financial
position of the charity and which enable them to ensure that the financial
statements comply with the Companies Act 1985.
They are also responsible for safeguarding the assets of the charity and
hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
ACCOUNTANTS’ REPORT
ON THE UNAUDITED ACCOUNTS OF
DERWENT VALLEY TRUST
As described on page 7, you have approved the accounts for
the year ended 31 March
2007 set out on pages 6 to 8.
In accordance with your instructions we have compiled these unaudited
accounts from the accounting records and information and explanations supplied
to us.
SMITH
COOPER
Chartered
Accountants
Derby
STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2007 2007 2007 2006
(General)
£ £ £ £
Incoming Resources
Deposit
interest 629 - 629 584
Certificates
etc. 100 - 100 190
Total Incoming Resources 729 - 729 774
Resources Expended
Costs of charitable activities
Website
cost 257 - 257 234
Insurance 220 - 220 210
Heritage
Way Project - 893 893 500
477 893 1,370 944
Other resources expended
Administration 15 - 15 35
Bank
Charges 33 - 33 -
Total Resources Expended 525 893 1418 979
Net incoming/(outgoing) resources 204 (893) (689) (205)
Fund balances
brought forward 5,564 8,782 14,346 14,551
Fund Balances Carried Forward 5,768 7,889 13,657 14,346
____ ____ _____ _____
BALANCE SHEET
2007 2006
CURRENT ASSETS £ £ £
Balances at Bank
Deposit accounts 13,631 14,262
Current account 26 84
13,657 14,346
CURRENT LIABILITIES
Creditors ( 0 ) (
0 )
NET CURRENT ASSETS 13,657 14,346
NET ASSETS 13,657 14,346
_____ _____
REPRESENTED BY:
Unrestricted 5,768 5,564
Restricted (Note 3) 7,889 8,782
13,657 14,346
_____ _____
The directors are satisfied that the
company was entitled to exemption under subsection (2) of section 249A of the
Companies Act 1985 and that members have not required an audit in accordance
with subsection (2) of section 249B.
The directors acknowledge their
responsibilities for:
¨
ensuring that the company keeps accounting records
which comply with section 221; and
¨
preparing accounts which give a true and fair view of
the state of affairs of the company as at the end of the financial year and of
its profit or loss for the financial year in accordance with the requirements
of section 226 and which otherwise comply with the requirements of this Act
relating to accounts, so far as applicable to the company.
The
financial statements have been prepared in accordance with the special
provisions relating to small companies within Part VII of the Companies Act
1985 and with the Financial Reporting Standard for Smaller Entities (effective
January 2005).
These
accounts were approved by the board of directors on and were signed on its behalf
by:
B.
D. Waters
Director
NOTES TO THE FINANCIAL STATEMENTS
1. ACCOUNTING POLICIES
The following accounting policies
have been applied consistently in dealing with items which are considered
material in relation to the company’s accounts.
Basis of Preparation
The accounts have been prepared under
prepared under the historical cost convention and in accordance with the
Statement of Recommended Practice, “Accounting and Reporting by Charities”
published in 2005 and applicable accounting standards.
Income & Expenditure
Income and expenditure are recognised on an
accruals basis other than donations which are recognised when they are
received.
Cashflow Statement
The company is exempt from the requirement
of Financial Reporting Standard No 1 to prepare a cashflow statement on the
grounds of its size.
Reserves
The charity maintains the level of reserves
required to fulfil its objectives. The
board of trustees monitors reserves at regular board meetings. Donations
received for the general purposes of the Charity are included as unrestricted
funds. Donations for activities restricted by the wishes of the donor are taken
to “restricted funds” where these wishes are legally binding on the Charity
Trustees.
2. DIRECTORS’ EXPENSES
No members of the board of directors nor any
person connected with them has received or is due to receive any remuneration
or expenses for the period directly or indirectly from the Charity’s funds.
3. RESTRICTED FUNDS
The
funds of the charity include restricted funds comprising the following balance
of donations held:
Balance
at Additions to Resources Balance at
1 April 2006 Restricted Funds Expended 31 March 2007
£ £ £ £
Restricted fund 8,782 - (893) 7,889
Total 8,782 - (893) 7,889
_____ _____ _____ _____
|