The trustees present their report and financial statements for the year ended 30 September 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)
The Trust's Objects are to preserve, protect and improve for the benefit of the public the riverside and it's environs at Twickenham in the London Borough of Richmond upon Thames; to provide charitable facilities there for public recreation and community activities; and to advance the education of the public in the history and environment of the area.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The Trust’s reporting year Oct 2019- Sept 2020 was very much a year of two halves - pre-Covi d and during Covid .
Pre-Covid, the Trust continued to host and plan events to be held on the Diamond Jubile e Gardens. For more information, please see below in this report.
During Covid, with many activities on hold, the Trust nonetheless, working with the assistance of the Richmond Council for Voluntary Service, successfully recruited eight new trustees, following the retirement in late September 2020 of five founding trustees.
Additionally, throughout this reporting year, the Trust has continued to be in discussions with the Council regarding proposed development plans for the Twickenham Riverside, following the RIBA Competition that had taken place in July 2019.
At the time of writing this report, the Trust is in negotiations with the Council about providing reprovisioned land both within the existing foot print of Diamond Jubilee Diamonds, but also on the Embankment and in areas currently covered by buildings.
The Trust is about to undertake a consultation with Twickenham residents.
In its discussions with the Council, the Trust has remained mindful of its Objects and of the Charity Commission Guidance regarding disposing of charity land.
As has been noted in previous reports, the Diamond Jubilee Gardens, and the wider surrounding area of Twickenham Riverside, have become increasingly well known and utilised since the opening of the Gardens in 2012. Additional amenity improvements to the riverside area (Champion’s Wharf, new Embankment landscaping and seating) made over the past five years have also started to attract visitors.
The pandemic, however, has resulted in a marked increase in the public’s use of not only the various riverside amenity spaces (the Embankment, and the various Twickenham riverside parks - Diamond Jubilee Gardens, York House Gardens, Orleans House Gardens) but also of the river itself. Existing entry points into the river (Water Lane slipway, Church Lane slipway, the various sets of Embankment steps, the White Swan ‘beach’) were used to access the river with a variety of craft (canoes, kayaks, paddleboards) and also by swimmers.
Regattas aside, the river at Twickenham has never been so busy with craft of all descriptions. This is a change in use that the Trust will be looking to expand on and consolidate in the years to come, ensuring that the river is as accessible as possible to all.
The Trust’s 2019 Events programme had drawn to a close with an afternoon of free Magic Shows hosted in a big tent on the Gardens. This event took place on 24 November 2019, and was timed to co-incide with the Switching-on of the Christmas Lights in nearby central Twickenham. The event was very well attended, with approximately 600 people attending the shows, with more in the surrounding Gardens where live reindeer were available to view. The success of this event was in n o way diminished by the burning down by vandals a week later of the eco Christmas tree built by the Trust annually on the Gardens. A replacement tree was generously supplied by the Council. In a series of subsequent smaller fires, damage was caused by vandals to the children’s playground that resulted in its temporary closure and the replacement of two pieces of play equipment.
By late February 2020, the Trust had in place its events programme for Summer 2020. The following events had been planned, with Richmond Council having agreed to underwrite the Gruffalo event and to also provide support for the Dog Show:
Late May/early June: Axel Scheffler and the Gruffalo (date to be decided depending on Axel’s attendance at the Hay Festival)
1 3 June 2020: Dog Show (to coincide with the month-long Twickenham Festival
28 June 2020: Richmond Brass Band, in conjuction with Richmond Twinning 2020 celebrations. Timed to coincide with Eel Pie Island Open Studios and the last weekend of the Twickenham Festival
11 July 2020: High Tide music festival. Discussions were underway to include DJG as a possible venue for this weekend-long Twickenham music festival that had first taken place in July 2019.
L ate July 2020: RNLI event. The very successful ‘Emergency 999’ event that first took place in 2019 was due to be hosted at nearby Marble Hill Park in 2020. The Trust was in early discussions with the RNLI to do a smaller event for 2020, centring around river safety .
8 September 2020: Petanque Taster Event (a repeat of an event that first took place in 2019)
However, due to the Covid Pandemic, the Trust had to cancel its entire events programme for 2020. In support of the activities that had been able to take place in 2019-20, the Trust received a grant of £200 from the WHSmith Charitable Trust and Christmas event underwriting of £200 from the Twickenham BID.
Event cancellations aside, the Diamond Jubilee Gardens have remained open to the public throughout most of the year, with the playground temporarily closed only during the April/May lockdown. The petanque courts have continued to be used when permitted. Overall, the Gardens remain a popular location used by a variety of user groups, the latter having been added to by those taking outdoor exercise where previously this activity might have taken place in gyms.
Unfortunately, however, the popular Sunshine Cafe in the Diamond Jubilee Gardens has been closed since March 2020. The Trust has been in active discussions with the Council regarding ensuring this Council-managed facility re-opens as soon as possible. A t the time of writing this report, the cafe remains closed.
The Trust made a small surplus for the year.
The expenses to which the Trust is committed on an annual basis are minimal and so the Board of Trustees are still of the opinion that the financial position of the Trust is secure now and for the forseable future.
The Trust does not have a reserves policy, but the Trustees are of the opinion that the current level of reserves are sufficient such that in the event of a significant drop in funding, they will be able to continue the Trust’s current activities while consideration is given to ways in which additional funds may be raised.
The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The Trust is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The power to appoint trustees is vested in the present trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trust is governed by the Board of Trustees who ensure that the objectives of the trust are being met.
The trustees' r eport was approved by the Board of Trustees.
The trustees, who are also the directors of Twickenham Riverside Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of Twickenham Riverside Trust (the Trust) for the year ended 30 September 2020.
As the trustees of the Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Trust as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Income from fundraising activities
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Twickenham Riverside Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit F, Whiteacres, Cambridge Road, Whetstone, Leicestershire, LE8 6ZG.
The financial statements have been prepared in accordance with the Trust's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the Trust. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
All funds of the Trust are unrestricted funds. Unrestricted funds are available for use at the discretion of the trustees to furth er any of the charit y's purposes.
Income is recognised when the Trust has entitlement to the funds, the amounts can be measured reliably, and it is probable that the income will be received. The following specific policies are applicable to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probably and its amount can be measured reliably.
Legacies income is recognised when receipt is probable and entitlement is established.
Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Income from contracts for the supply of services is recognised with the delivery of the contracted service.
Expenditure is recognised on an accruals basis as a liability is incurred.
Income from fundraising activities
Fundraising activities
Fundraising activities
Insurance
Accountancy
Legal and professional
Website
Other expenses
2019 2018
£ £
Fees payable to the Independent Examiner for:
Preparation of financial Statements 360 360
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There were no disclosable related party transactions during the year (2019 - none).
In the early part of 2020 there was an outbreak of Coronavirus which developed into a global pandemic. As noted in the Trustees Report, the periods of national ‘lockdown’ and local restrictions led to the cancellation of planned events for 2020 and this impacted the finances of the Charity. The overheads of the Charity are fairly small and so the Trustees are of the opinion that the reserves of the Charity are sufficient to support the Charity for at least a period of 12 months from the date of signing the financial statements.