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2022-09-30-accounts

The Kepplewray Trust

Trustees’ report and consolidated financial statements Registered charity number 1015762 30 September 2022

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Contents

Reference and administrative details 3
Trustees’ report 4
Consolidated statement of financial activities 9
Trust statement of finamcial activities 10
Balance sheet 11
Cashflow Statement – Charity 12
Notes (forming part of the financial statements) 13- 29

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Reference and administrative details

Registered charity number 1015762 Chairman Revd JR Libby Trustees Revd JR Libby ME Browne MG Libby S Bevan C Armstrong Centre Manager Mr Neil Addington Registered Address The Kepplewray Centre Kepplewray Hill Broughton-in-Furness Cumbria LA20 6HE Solicitors Burnetts, Carlisle Bankers Barclays Bank Plc, Kendal, Cumbria Registered accountants MHA Moore and Smalley, Kendal

3

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Trustees’ report

The Trustees present their report and the financial statements of the Trust for the year ended 30 September 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Trust.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Trust’s governing document, the Charities Act 2011 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 published in October 2019.

Reference and Administrative Information

The Causeway Trust was created by a Declaration of Trust dated 24 September 1992 and was registered as a charity on 16 December 1992. By a deed dated 1 October 1994 the Trust’s name was changed to The Kepplewray Trust. The charity is registered with the Charity Commission under charity number 1015762. The Trustees, executive officers and principal addresses of the Charity, together with its professional advisers, are given on page 3.

Objects, aims, objectives and activities

Charitable Objective

The main objective of the Trust is the advancement of the education and awareness of individuals and groups of disabled and non-disabled people through residential and day programmes of adventure, learning, challenge and relaxation in a fully accessible and inclusive Christian environment. Through its trading company, Kepplewray Limited, a large mansion (‘Kepplewray’) in the Lake District was acquired which, after substantial renovation, enables the Trust to meet its charitable objective. Programmes at Kepplewray stretch mental and physical capabilities and deliberately promote the inclusion of disabled and disadvantaged people so that their conditions of life might be improved.

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Achievement and performance

Bookings improved this financial year following the Covid 19 global pandemic compared to the previous two years, with 179 groups visiting the Centre – many of them for the first time as restrictions on outdoor activities eased.

The Centre was sorry to see the departure of our Activities Manager who left Kepplewray due to changing family circumstances. He was replaced and activities at Kepplewray have continued to develop.

We continued close links with our neighbouring school, welcoming their pupils for activities throughout the year and developed new links with organisations such as The Lake District National Park and The Birks Residential Centre to provide activities and accommodation to their guests. Kepplewray continued to make good use of its innovative Participation Inclusion Fund, which continues to provide greatly subsidised access to activities for hundreds of guests who would not normally be able to join us at the Centre. We have welcomed continued support for the Participation Inclusion Fund by trusts, foundations and other outside funders who recognise the benefits of outdoor experiences for this section of the community.

Despite being busy, significant redevelopment and maintenance of the Centre continued with the north gable wall being sealed both internally and externally to water ingress and being treated for damp. This work was followed by the refurbishment of rooms previously affected by damp making them available for guest use again. Other general maintenance was carried out this year and plans were put in place to continue the treatment of damp which is always a problem in buildings of the age of The Kepplewray Centre in future financial years.

Continued…………………………………..

4

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Trustees’ report (continued)

Achievement and performance (continued)

Our thanks are also due to all of those who have made this continued momentum possible. To the staff team in particular, but also to my fellow trustees, to our donors, to our returning user groups, to our essential prayerful supporters and to the Broughton-in-Furness community. The combined efforts of all of these groups have enabled our inclusive journey to continue and to evolve even through a period of great uncertainty and vulnerability.

Burundi Link – The Bethesda Project

The Trust has continued to support the work of the Bethesda Project in the Muyinga diocese in Northern Burundi. Burundi is one of the poorest countries in the world, with most people living at a subsistence level with long walks to collect water, and 99% of people having no electricity. Recent figures show the population growing at a rate of one person per minute and half of these children are not in school. Added to this has been the Covid epidemic with very little access to healthcare in the village communities.

The staff (all nationals) travel to rural communities around Muyinga to seek out the many sick and disabled people who are hidden away and to address their needs and barriers to their inclusion into the community and education.

Examples of people helped include a young boy injured in a motorcycle accident. Bethesda was able to replace his home-made crutches to greatly improve his mobility and inclusion in society

Management Development

In line with good practice, and very much as part of the work of the Development Team, we continue to develop our internal systems, support our staff, implement, review and amend our policies in order to deliver the best possible service to our guests.

Thanks

Donations and grants are vital to the development of the Centre. We are very grateful to all of our supporters and donors.

Financial review and results for the year

The Trust’s year end is 30 September, and the accounts are independently examined annually. The consolidated results are shown in the unaudited accounts attached to this report.

Investment Policy

The Trustees do not envisage the Trust holding investments in the foreseeable future apart from shares in its trading subsidiary. Any shares donated to the group will be sold as soon as they are fully listed.

Reserves Policy

The group’s free reserves at 30 September 2022 are in deficit by £666,296 (2021: deficit of £708,435). Of this amount, £683,458 (2021: £696,404) are long term liabilities not due to crystallise for at least 12 months from the balance sheet date. Allowing for this, the adjusted free reserves for the group at 30 September 2022 are a surplus of £17,162 (2021: deficit of £12,031).

The charity’s free reserves at 30 September 2022 are in deficit by £32,554 (2021: deficit of £68,324). Of this amount, £239,140 (2021: £239,140) are long term liabilities not due to crystallise for at least 12 months from the balance sheet date. Allowing for this and the long-term debtor of £152,017 (2021: £143,516), the adjusted free reserves for the charity at 30 September 2022 are a surplus of £54,569 (2021: surplus of £27,300).

Continued…………………………………..

5

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Trustees’ report (continued)

Future Development

The strong inflows from trading and increased grant support, in addition to the Participation Inclusion Scheme, have all enabled significant investment in the Kepplewray building, all of which has continued post year end. Major damp and rot have been remedied, insulation improved and the majority of the windows are being replaced.

Before the financial year end and continuing to grow in importance since is a strategic review of buildings and accommodation. Plans are being costed to finish the remedial work (as above), to resurface the car park and freshen the approach and, potentially, to go to tender with a major extension/expansion of the site. This is in response to the strong and growing bookings schedule and the continued demand for joint group use of both accommodation and activities.

Structure, governance and management

Governing Document

The charity is governed by its Trust deed dating from 1992. The Trustees are granted wide powers of investment and of application of Trust funds towards the charitable objects of the Trust except that they may not undertake permanent trading activities in raising funds to achieve its objects.

Governing body

The charity is governed by its trustees, of whom there are currently five. They are responsible for the administration of the objects of the Trust, having overall control and holding the legal, financial and management responsibility of the charity. They meet at least quarterly, but also receive regular reports from the Management Group.

Recruitment, appointment, induction and training of new Trustees

Potential new trustees are approached by the Chairman on the basis of eligibility, availability, expertise and personal competence. They are normally invited to join the Kepplewray Management Group before being invited to become a trustee. On the group, they are introduced to all of the workings of the Charity. As trustees, they receive copies of Charity Commission newsletters and are informed of training courses that may be suitable for them.

Group structure and relationships

On 1 January 1995 the Trust signed a 99 year lease agreement with Kepplewray Limited, which is wholly owned by the Trust, to secure the exclusive use of the property at Kepplewray and enable the Trust to further its charitable objectives. The results of Kepplewray Limited are shown in note 15 to the financial statements.

Risk Management

The Trustees have identified the major risks to which the charity is exposed. Those risks have been reviewed and systems established to mitigate them. In keeping under review the Trust’s activities, Trustees are mindful of the potential for any changes to the present range of risks, especially those concerning the arrival of Covid-19 and will adjust systems when and where required.

6

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Trustees’ report (continued)

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales/Northern Ireland 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.

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.

The Reverend J R Libby 13/05/2023

Chairman of the Trustees Date ………………………………………………

7

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Independent Examiner's Report to the Trustees of the Kepplewray Trust

I report to the charity trustees on my examination of the accounts of the charity (the ‘parent charity’) and its subsidiary (the ‘group’) for the year ended 30 September 2022 which are set out on pages 9 to 29.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts (both parent and group) carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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 accounts to be reached.

Colin Johnson FCCA MHA Moore & Smalley

Chartered Accountants Kendal House Murley Moss Business Village Oxenholme Road Kendal. Cumbria. LA9 7RL

13/05/2023

Date …………………………………….…

8

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Consolidated statement of financial activities for the year ended 30 September 2022

for the year ended 30 September 2022
Notes 2022 2021
Restricted Unrestricted Total Total
funds funds
Income and endowments from: £ £ £ £
Donations and legacies 2 54,280 21,127 75,407 69,046
Charitable activities:
Grants received 3 80,341 4,135 84,476 163,782
Accommodation and activities income - 404,654 404,654 181,002
Other trading activities - 2,838 2,838 729
Other 3,692 420 4,112
 645
Total income and endowments 138,313 433,174 571,487
 415,204
Expenditure
Raising funds:
Fundraising trading - 2,236 2,236 677
Fundraising costs - 22,643 22,643 32,770
Charitable activities
Provision of accommodation and activities 72,382 380,671 453,053 298,638
Other - 35,967 35,967 25,120
Exceptional item - 7,212 7,212
 -
Total expenditure 4 72,382 448,729 521,111
 357,205
Net income/ (expenditure) 65,931 (15,555) 50,376 57,999
Transfers between funds 14 (55,348) 55,348 - -
Tax on activities - (1,494) (1,494)
 (2,617)
Net movement in funds 10,583 38,299 48,882 55,382
Reconciliation of funds:
Fund balance brought forward 14 80,061 39,703 119,764
 64,382
Fund balance carried forward 13,14 90,644 78,002 168,646 119,764

9

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Trust statement of financial activities for the year ended 30 September 2022

for the year ended 30 September 2022
Notes 2022 2021
Restricted Unrestricted Total Total
funds funds
£ £ £ £
Income and endowments from:
Donations and legacies 2 54,280 21,127 75,407 69,046
Charitable activities:
Grants received 3 80,341 135 80,476 137,282
Accommodation and activities income - 404,654 404,654 181,002
Other 3,692 5,729 9,421
 5,452
Total income and endowments 138,313 431,645 569,958
 392,782
Expenditure
Raising funds:
Fundraising costs - 11,193 11,193 12,561
Advertising & Marketing - 11,450 11,450 20,209
Charitable activities:
Provision of accommodation and activities 72,382 389,767 462,149 276,782
Other - 32,551 32,551 29,385
Exceptional item - 7,212 7,212
Total expenditure 4 72,382 452,173 524,555
 338,937
Unrealised loss on investment 9 - - - -
Net income/ (expenditure) 65,931 (20,528) 45,403 53,845
Transfers between funds 14 (55,348) 55,348 -
 -
Net movement in funds 10,583 34,820 45,403 53,845
Reconciliation of funds:
Fund balance brought forward 80,061 38,594 118,655
 64,810
Fund balance carried forward 90,644 73,414 164,058 118,655

10

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Balance sheet at 30 September 2022

Note
Fixed assets
Tangible assets
8
Investments
9
Current assets
Stocks
Debtors: amounts falling due within one
year
10
Debtors: amounts falling due after more
than one year
10
Cash at bank and in hand
Creditors:amounts falling due within
one year
11
Net current assets
Total assets less current liabilities
Creditors:amounts falling due after
more than one year
12
Net assets
Income funds
Restricted funds
13,14
Unrestricted funds
13,14		 Group
30 Sept
2022
30 Sept
2021
£
£
744,298
748,138
-
-

744,298
748,138

2,332
2,727
30,342
16,434
-
-
175,895
160,753

208,569
179,914
(100,763)
(111,884)

107,806
68,030

852,104
816,168
(683,458)
(696,404)

168,646
119,764

90,644
80,061
78,002
39,703

168,646
119,764
 Charity
30 Sept
2022
30 Sept
2021
£
£
77,968
78,918
28,000
28,000

105,968
106,918

1,996
2,258
30,342
16,434
152,017
143,516
173,955
156,909

358,310
319,117
(61,080)
(68,240)

297,230
250,877

403,198
357,795
(239,140)
(239,140)

164,058
118,655

90,644
80,061
73,414
38,594

164,058
118,655

21/04/2023

These financial statements were approved by the board of Trustees on ……………………………………………… and were signed on its behalf by:

……………………………………………… The Reverend JR Libby Trustee

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The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Cashflow Statement – Charity
At 30 September 2022
Note
Cash flow from operating activities
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Depreciation of tangible fixed assets
(Increase)/decrease in stock
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Net cash flow from investing activities
Cash flow from financing activities
Net cash flow from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 October 2021
Cash and cash equivalents at 30 September 2022
Cash and cash equivalents consists of:
Cash at bank and in hand
Short term deposits
Cash and cash equivalents at 30 September 2022		 2022
£
45,403
(22,409)
(7,160)
12,418
262
28,514
(11,468)
(11,468)
-
-
17,046
156,909
173,955
173,955
-
173,955		 2021
£
53,845
39,574
19,004
12,147
(950)
123,620
(11,098)
(11,098)
-
-
112,522
44,387
156,909
156,909
-
156,909

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The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (forming part of the financial statements)

1. Accounting policies

Basis of preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

The Kepplewray Trust meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. There are no designated funds in the period.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income and gains are allocated to the appropriate fund.

Income recognition policies

All incoming resources are included in the Statement of Financial Activities (SOFA) when it is probable the charity will be legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income.

13

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

1. Accounting policies (continued)

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Other costs comprise the costs of running the charity, including strategic planning for its future development, also external audit, any legal advice for the trustees, and all the costs of complying with constitutional and statutory requirement, such as the costs of Trustees’ meetings and of preparing statutory accounts and satisfying public accountability.

Rent charged to the charity by its subsidiary company is treated as a cost of the charity, and the intra-group income and costs are excluded from the consolidated figures.

Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and included at cost including any incidental costs of acquisition. Assets which are used by the group for direct charitable purposes are allocated as such. There are no assets otherwise classified.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic life as follows:

Freehold property Nil Leasehold improvements Nil Fixtures and fittings 10%/20% Equipment 10%/20% Motor vehicles 25%/12.5% for motorcars 10% with residual value of £1,000 for minibuses Equipment in Burundi 33%

The trustees perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Operating leases

Rentals payable under operating leases are charged against income based on occupancy levels.

Investments

Current asset investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the period.

Fixed asset investments are stated at cost less any provision for permanent diminution in value.

Stock

Stock consists of finished goods for resale and is valued at the lower of cost and net realisable value.

14

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

1. Accounting policies (continued)

Related party transactions

The Trustees have taken advantage of the exemption in the FRS 102 and have not disclosed related party transactions with its subsidiary undertaking.

Pensions: Defined Contribution

The Charity set up a pension scheme with The Peoples’ Pension in March 2016 to comply with automatic enrolment requirements. Contributions to the scheme are charged in the SOFA as they become payable.

Going concern

The trustees continue to be very encouraged by the grants offered by supportive trusts and the way the Participation Fund continues to attract both donor support and customer take-up. There is a ‘multiplier’ effect where PIF sponsored participants continue to encourage whole groups to book both activities and accommodation.

Post financial year end, the bookings situation and cash flow continue to look strong even after significant investment in the building and the trustees are satisfied that it is appropriate to prepare the accounts on a going concern basis.

15

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

1. Accounting policies (continued)

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2. Donations and gifts

Individuals
Donated facilities
Charitable foundations
Companies		 2022
Group
Charity
£
£
50,623
50,623
9,566
9,566
5,218
5,218
10,000
10,000
75,407
75,407		 2021
Group
£
53,604
9,566
5,876
-
69,046		 Charity
£
53,604
9,566
5,876
-
69,046

Of the £75,407 received in 2022 (2021: £69,046) £54,280 was restricted funds (2021: £42,164) and £21,127 was unrestricted (2021: £26,882).

The charity is indebted to individuals for providing interest-free loans to the group. The value placed on this contribution is £9,566 (2021: £9,566), (Trust £9,566 (2021: £9,566)). The income equivalent is recognised within incoming resources as a donation, and an equivalent charge is included within interest payable.

16

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

3. Grants received

Agnes Dixon Trust
All Churches Trust
Alpkit Foundation
Anonymous
Anonymous
Archer Trust
BAE via LCVS
Beatrice Laing Trust
Catherine Cookson Charitable Trust
CGP Trust
CLA Charitable Trust
Coop Community Fund
Cumbria Community Foundation
Edward Gosling Foundation
Firdale Christian Trust
Frieda Scott Charitable Trust
Four Acre Trust
Hadfield Trust
Harold & Alice Bridges Charity
Hedley Foundation
HMRC Job Retention Scheme
HMRC Coronavirus SSP rebate
Kingmoor Park Charitable Trust
Kingmoor Park Charitable Trust
Lord Barnaby Foundation
Lord Barnaby Foundation
McConks
Rawdon-Smith Trust
Rumic Foundation
Sir John Fisher Foundation
SLDC Business Support Grant*
Solomon’s Charitable Trust
Souter Charitable Trust
Whirlwind Charitable Trust		 2022
2022
Group
Charity
£
£
-
-
-
-
160
160
-
-
25,000
25,000
-
-
500
500
5,000
5,000
3,000
3,000
350
350
5,000
5,000
331
331
5,000
5,000
5,000
5,000
1,000
1,000
-
-
6,000
6,000
-
-
-
-
-
-
-
-
135
135
-
-
-
-
-
-
-
-
-
-
-
-
-
-
20,000
20,000
4,000
-
-
-
4,000
4,000
-
-
84,476
80,476		 2021
2021
Group
Charity
£
£
8,000
8,000
7,500
7,500
500
500
1,600
1,600
-
-
3,000
3,000
-
-
5,000
5,000
-
-
1,750
1,750
-
-
-
-
3,000
3,000
-
-
1,000
1,000
7,500
7,500
-
-
3,000
3,000
3,000
3,000
3,600
3,600
48,182
48,182
-
5,000
5,000
5,000
5,000
1,500
1,500
2,500
2,500
500
500
900
900
500
500
20,000
20,000
26,500
-
750
750
-
-
4,000
4,000

163,782
137,282

Grants marked with a (*) represent unrestricted grants, all other grants are restricted.

17

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

4. Total expenditure – Group

Staff costs
Other direct
costs
Other allocated
costs
£
£
£
Fundraising trading
-
2,236
-
Fundraising costs
Advertising
11,193
10,367
-
1,083
-
-
Provision of accommodation and activities
159,510
293,543
-
Other
19,211
16,756
-
Exceptional item
7,184
28
-

Total expenditure
207,465
313,646
-

Staff costs
Other direct
costs
Other allocated
costs
£
£
£
Fundraising trading
-
677
-
Fundraising costs
Advertising
8,621
17,170
3,939
3,039
-
-
Provision of accommodation and activities
120,666
173,707
-
Other
15,719
13,666
-

Total expenditure
162,176
195,029
-		 2022
£
2,236
11,193
11,450
453,053
35,967
7,212
521,111
2021
£
677
12,560
20,209
294,373
29,385
357,205

Staff costs as per Note 6. Other direct costs include:

2022 2021
£ £
Accountants’ remuneration 7,149 7,340
Depreciation and profit on disposal of asset 15,308 14,909
Interest payable 21,055 18,726

18

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

4. Total expenditure (continued) – Charity

Staff costs
Other direct
costs
Other allocated
costs
£
£
£
Fundraising costs
Advertising
11,193
10,367
-
1,083
-
-
Provision of accommodation and activities
159,510
302,639
-
Other
Exceptional item
19,211
7,184
13,340
28
-
-

Total expenditure
207,465
317,090
-

Staff costs
Other direct
costs
Other allocated
costs
£
£
£
Fundraising costs
Advertising
8,621
17,170
3,939
3,039
-
-
Provision of accommodation and activities
120,666
156,117
-
Other
15,719
13,666
-

Total expenditure
162,176
176,761
-

Staff costs as per Note 6. Other direct costs include:
2022
£
Accountants’ remuneration
3,774
Depreciation and profit on disposal of asset
12,418
Interest payable
9,566		 2022
£
11,193
11,450
462,149
32,551
7,212
524,555
2021
£
12,560
20,209
276,783
29,385
338,937
2021
£
4,100
12,019
9,566

19

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

5. Trustees' remuneration

The Trustees received no remuneration during the year, either from the charity, or from Kepplewray Limited in their capacity as directors (2021: £Nil). Reimbursement of travel and meeting expenses to trustees amounted to £Nil (2021: £Nil).

6. Staff numbers and costs

The total wages and salaries costs for the group were as follows:

Wages and salaries
Social security costs
Pension costs
Group total		 2022
£
192,137
7,874
7,454
207,465		 2021
£
151,089
5,108
5,979
162,176

There were no employees receiving more than £60,000 in the year (2021: None).

The average number of employees during the year, analysed by function, was as follows:


Cost of generating funds
Charitable activities
Management and administration of the charity
Group total		 Number of employees
2022
2021
1
1
4
4
3
3
8
8

Kepplewray Limited has a total of 2 (2021: 2) directors.

20

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

7. Pensions

Defined Contribution Scheme: contributions amounted to £7,454 (2021: £5,979). There were no amounts outstanding at the period end (2021: £Nil). Of the £7,454 in 2022 (2021: £5,979) £nil was restricted costs (2021: £nil) and £7,454 unrestricted costs (2021: £5,979).

8. Tangible fixed assets

Group
Cost
At 1 October 2021
Additions
Disposals
At 30 September 2022
Depreciation
At 1 October 2021
Charge for year
Disposals
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021		 Freehold
land and
buildings
Fixtures,
fittings and
equipment
£
£
802,717
263,641
-
11,468
(22,874)
-		 Freehold
land and
buildings
Fixtures,
fittings and
equipment
£
£
802,717
263,641
-
11,468
(22,874)
-		 Freehold
land and
buildings
Fixtures,
fittings and
equipment
£
£
802,717
263,641
-
11,468
(22,874)
-		 Motor
vehicles
Total
£
£
58,548
1,124,906
-
-
11,468
(22,874)		 Motor
vehicles
Total
£
£
58,548
1,124,906
-
-
11,468
(22,874)
802,717 252,235 58,548
1,113,500
106,984
-
-		 240,843
8,079
(22,874)		 28,941
7,229
-		 376,768
15,308
(22,874)
106,984 226,048 36,170 369,202
695,733
695,733		 26,187
22,798		 22,378

29,607		 744,298
748,138

All of the fixed assets of the group are used by the group for direct charitable purposes.

21

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

8. Tangible fixed assets (continued)

Tangible fixed assets (continued)
Charity
Cost
At 1 October 2021
Additions
Disposals
At 30 September 2022
Depreciation
At 1 October 2021
Charge for year
Disposals
At 30 September 2022
Net book value
At 30 September 2022
At 30 September 2021		 Land and
leasehold
improvements
Equipment
£
£
67,477
168,815
-
11,468
-
(22,874)		 Motor
vehicles
£
58,548
-
-		 Total
£
294,840
11,468
(22,874)
67,477 157,409 58,548 283,434
27,477
-
-		 159,504
5,189
(22,874)		 28,941
7,229
-		 215,922
12,418
(22,874)
27,477 141,819 36,170 205,466
40,000
40,000		 15,590
9,311		 22,378

29,607		 77,968
78,918

All of the charity’s fixed assets are used by the charity for direct charitable purposes.

22

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

9. Investments

Fixed asset investments: Investments in subsidiary undertaking

Charity
Ordinary £1 shares in Kepplewray Limited
Cost at 1 October 2021 and 30 September 2022

Net book value
Net book value at 1 October 2021
Unrealised loss on investment
Net book value at 30 September 2022
10.
Debtors
Group
Trade debtors
Other debtors
Charity
Trade debtors
Other debtors
Group company (*)		 2022
£
116,000

28,000
-

28,000

2022
£
29,461
881
30,342
£
29,461
881
152,017
182,359		 2021
£
116,000
28,000
-


28,000
2021
£
12,134
4,300
16,434
£
12,134
4,300
143,516
159,950

*The amount owing from the group company is due after more than one year. The charity’s subsidiary company, Kepplewray Limited, is currently reliant on the charity to assist with bank loan repayments. Kepplewray Limited is not currently in a position to repay the group debt. Accordingly, this debtor is stated as being due after more than one year.

23

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

11. Creditors: amounts falling due within one year

Group
Bank loans and overdrafts
Trade creditors
Other taxation and social security
Accruals and deferred income
Movements in deferred income are as follows:
Balance at 1 October 2021
Amount (released)/deferred in the year
Balance as at 30 September 2022		 2022
£
34,000
23,336
4,022
39,405
100,763
2022
£
48,848
(21,079)
27,769		 2021
£
34,000
21,030
4,883
51,971
111,884
2021
£
26,323
22,525
48,848

The bank loan and overdraft are secured by a first legal charge over the land and buildings of Kepplewray Limited.

Charity
Bank overdraft
Trade creditors
Other taxation and social security
Accruals and deferred income
Movements in deferred income are as follows:
Balance at 1 October 2021
Amount (released)/deferred in the year
Balance as at 30 September 2022		 2022
£
-
22,147
2,528
36,405
_
61,080
2022
£
48,848
(21,079)
27,769		 2021
£
-
16,837
2,266
49,137
_
68,240
2021
£
26,323
22,525
48,848

24

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

12. Creditors: amounts falling due after more than one year

Group
Bank loans
Other loans
Analysis of loans
Wholly repayable within five years:
By instalments
Other than by instalments
Not wholly repayable within five years:
By instalments
Other than by instalments
Included in current liabilities		 2022
£
371,818
311,640
683,458
£
38,333
311,640
367,485
-
_
717,458
(34,000)
683,458		 2021
£
442,764
287,640
730,404
£
48,333
287,640
428,431
-
_
764,404
(34,000)
730,404

25

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

12. Creditors: amounts falling due after more than one year (continued)

The Barclays Bank loan (£367,485) is repayable over twenty-five years and will be repaid in full by December 2033. It bears interest at 2% over base rate. The bank loan is secured by a fixed charge over the freehold property of Kepplewray Limited. There are no other secured loans. Consequently, the amount of secured liabilities at 30 September 2022 amounted to £367,485 (2021: £394,431).

A government-secured bounce back loan for £50,000 was taken out with Barclays Bank in July 2020, to ease the impact of the coronavirus restrictions. Monthly repayments on this loan commenced in August 2021 and will be repaid in full by July 2026.

Other loans totalling £311,640 (2021: £287,640) are interest free. The Directors and Trustees have received assurance from the lender confirming there is no obligation to repay before July 2024.

Analysis of loans
Wholly repayable within five years
By instalments
Other than by instalments
Not wholly repayable within five years
By instalments
Other than by instalment
Included in current liabilities
Charity
Other loans
Bank loans		 £
-
239,140
-
-
_
239,140
-
239,140

2022
£
239,140
-
_
239,140		 £
-
239,140
-
-
_
239,140
-
239,140

2021
£
239,140
-
_
239,140

26

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

13. Analysis of group net assets between funds
2022 Restricted Unrestricted Total funds
funds funds
£ £ £
Group
Tangible fixed assets - 744,298 744,298
Current assets 90,644 117,925 208,569
Current liabilities - (100,763) (100,763)
Long term liabilities - (683,458)
 (683,458)
90,644 78,002
 168,646
2021 Restricted Unrestricted Total funds
funds funds
£ £ £
Group
Tangible fixed assets - 748,138 748,138
Current assets 80,061 99,853 179,914
Current liabilities - (111,884) (111,884)
Long term liabilities - (696,404)
 (696,404)
80,061 39,703
 119,764
14. Statement of funds - Group
2022 Restricted Unrestricted Total
funds funds
£ £ £
At beginning of year 80,061 39,703 119,764
Income and endowments 138,313 423,608 561,921
Resources expended (72,382) (439,163) (511,545)
Transfer (55,348) 55,348 -
Tax payable - (1,494)
 (1,494)
90,644 78,002
 168,646
2021 Restricted Unrestricted Total
funds funds
£ £ £
At beginning of year 40,013 24,369 64,382
Income and endowments 122,764 292,440 415,204
Resources expended (41,451) (315,754) (357,205)
Transfer (41,265) 41,265 -
Tax payable - (2,617)
 (2,617)
80,061 39,703 119,764

27

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

14. Statement of funds – Group (continued)

The general reserve represents the free funds of the charity which are not designated for particular purposes.

The other transfers made between funds (as shown in the statement of financial activities) relate to restricted income which has been expended on assets and is no longer required to be shown within the restricted funds balance.

15. Subsidiary company

The charity owns the whole of the issued share capital of Kepplewray Limited, a company registered in England. The subsidiary owns the property leased to the charity, from which the charity's activities take place. All activities of the company have been consolidated on a line by line basis in the SOFA.

A summary of the results of the subsidiary is shown below:

Kepplewray Limited

Turnover
Cost of sales
Gross profit/(loss)
Administrative expenses
Other operational income
Net profit/(loss)
Tax payable
The aggregate of the assets, liabilities and funds was:
Assets
Liabilities		 Total
2022
£
26,838
(2,236)
24,602
(23,629)
4,000
4,973
(1,494)
3,479
668,606
(636,018)
32,588		 Total
2021
£
5,521
(676)
4,845
(27,191)
26,500
4,154
(2,617)
1,537
673,534
(644,425)
29,109

28

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Notes (continued)

16. Related party transactions

There were no related party transactions during the current and previous year.

17. Taxation

As a charity, Kepplewray Trust is exempt from tax on income and gains falling within sections 472-474 of the Corporation Tax Act 2010, sections 478-489 of the Corporation Tax Act 2010, or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

18. Control

There is no single controlling party of the Trust in the current and previous year.

19. Operating Lease

Kepplewray Trust leases the premises from Kepplewray Limited under a 99-year lease dated 1 January 1995 . The monthly rental is set at £2,000 and is no longer tied to occupancy levels.

29

The Kepplewray Trust Trustees’ report and consolidated financial statements 30 September 2022

Detailed Trust income and expenditure account
for the year ended 30 September 2022
Incoming resources
Donations
Grants received
Gift aid and covenant income
Accommodation income
Other income
Events
Government grants
Total incoming resources
Direct charitable expenditure
Salaries
Freelancers
Bethesda costs
Expenses
Staff costs
Rental
Rates and premises cost
Repairs and maintenance
Accommodation provision costs
Establishment costs
Total direct charitable expenditure
Other expenditure
Advertising & Marketing
Fundraising
Other costs
Telephone, postage and carriage
Audit and accountancy
Bank charges and interest
Loan interest
Depreciation
Bad debt
Administrative expenses
Total expenses
Net movement in funds		 2022
£
56,032
80,341
23,067
404,654
5,729
-
135

569,958

207,464
77,553
21,543
883

307,443

24,000
32,092
68,282
63,268

187,642

495,085

1,111
-

1,111

1,870
3,774
600
9,566
12,418
131
_
28,359

524,555

45,403
 2021
£
22,341
89,100
19,460
181,002
5,453
27,244
48,182
392,782
162,176
28,850
33,972
-
224,998
4,793
13,469
26,756
31,749
76,767
301,765
6,939
40
6,979
2,464
4,100
507
9,566
12,019
1,537
_
30,193
338,937
53,845

This page does not form part of the statutory financial statements.

30