Magog Down

Annual General Meeting

magoglogo2_60The Annual General Meeting of the Magog Trust was held on Saturday 10th October 2020 via Zoom.

There were no presentations this year, just the mandatory business of the AGM. The Annual Review can be downloaded here:

Annual Review 2020

The Full Annual Report and Accounts for the year 2019 to 2020 are now available here:

Annual Report year to March 2020

And the Minutes of the 2019 AGM are here:

AGM minutes 2019

Magog Trust Finance

The Magog Trust, which is a company limited by guarantee, is also a registered charity and registered farmer. This means it has to abide by regulations applying to companies, charities and farmers.

As a charity we are exempt from income and corporation taxes and are able to reclaim Gift Aid on qualifying donations.

We are registered for VAT. This allows us to recover the VAT that we pay but we also have to account to HMRC for the VAT on car parking fees and the subscriptions which entitle Friends and Members to enjoy free parking.


How much do we receive and what does it cost?


Income

Since 2nd January 2019, car parking fees and subscriptions, which provide free parking, have made up an increasing proportion of the Trust’s income. They now represent 44% of the total. Farming and related grants, together with investment income from the endowment fund, make up most of the rest.

Expenditure

Farming represents the largest single item of expenditure but this has to be set against the income it generates. For 2020-21, farming and its related grants made a surplus of £23,634.

All other costs, except those related to the management of our investments, amounted to £74,257. This is indicative of what it costs to conserve the landscape and maintain it for public amenity and access.


income_650

 

Donations

4,478

Farming

 

44,931

Grants & other land income

22,699

Membership fees

36,415

Car park fees

35,368

Investment income

17,251

Total

 

161,142

 

 

 

 

 

expenditure_650

 

Farming

 

£34,985

Ranger & other services

£20,587

Administration

£24,635

Expenditure on land

£19,210

Other

 

£9,825

Fund management

£6,711

Total

 

£115,953

 

 

 

 

 

The Annual Report and Accounts for 2020-21 can be downloaded here.