Magog Down

Annual General Meeting

magoglogo2_60The Annual General Meeting of the Magog Trust was held on Saturday 21st October 2017, at the Johnson Hall, Gog Magog Way, Stapleford.

The AGM was preceded by a very interesting presentation on “The Flora of Magog Down” by Claire and Nick Beale.  The mandatory business of the AGM then followed. All resolutions were passed, and the full accounts and report for the year accepted. This can now be downloaded below:

Full Report and Accounts

Annual Review 2017

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The meeting provided a joyous reunion for four former Wandlebury Rangers, pictured here together, left to right: Bill Clark, Nick Beale, Jon Gibbs, Claire Beale.


 

 

Magog Trust Finance

The Magog Trust was formed as a company limited by guarantee, is a registered charity and a registered farmer. This means it has to abide by regulations applying to companies, charities and farmers. Our financial set-up reflects these aspects.



How much do we receive and what does it cost?


Community Liaison

This includes the membership and community activities of the Magog Trust. These activities are wholly charitable in that they relate to our access and educational objects. We aim to break even on these activities. Last year membership brought in £7,497, a very useful part of our income.

Corporate
This includes the finance and administration functions of the Trust and managing our expendable endowment, set up following receipt of a very generous legacy. The income also covers the cost of the Ranger Service that we buy from Cambridge Past, Present and Future which last year was £13,817. Last year Investment Income was £18,840, donations, grants and other income amounted to £3,406.

Land Management
This includes all our farming and conservation activities. Since we started we have had a series of stewardship agreements which provide a steady income in return for providing free public access to our land and enhancing its conservation value by restoring chalk downland, creating new woodland and recreating other habitats to restore the diversity of flora and fauna on Magog Down. The main part of our income comes from the arable land at the foot of the South Down. In total we had £57,632 income from land management last year. This generated a surplus for the year but we spent all that and more on reshaping our woodlands to protect our Scheduled Ancient Monument.

Taxation and Gift Aid
As a charity we are exempt from income and corporation taxes but not VAT. We are registered for VAT and can recover all VAT we pay through our status as a "de minimis" partial exemption (if you really want to know more look it up on the HMRC website). If we sell goods and services we have to charge VAT.


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With annual expenditure of around £90,000 required to maintain the Magog Down including resourcing the Ranger Service, Dog-Bin Emptying, Farming and Forestry activities as well as administration, the Magog Trust is reliant on support from each visitor to the Down as well as grants, donations and income investment.


All information above correct as of February 2014