The Kepplewray Trust
Trustees, report and consolidated
financial statements
Registered charity number 1015762
30 September 2023

The Kepplewray Trust
Ttu%tee%' Teport and consolidated financial 8laternent
30 8eptenibeT ?023
Contents
Reference and administrative details
Trustees. report
Consolidated statement of financial activities
Trust statement of finamcial activities
10
Balance sheet
Cashflow Statement- Charity
Notes (forming part of the financial statements)
13- 29
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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
Bumetts, Cadisle
Bankers
Barclays Bank Plc, Kendal. Cumbria
Registered accountants
MHA Moore and Smalley, Kendal
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Trustees, report
The Trustees present their report and the financial ststements of the Trust for the year ended 30 September
2023. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI
"Accounting and Reporting by Charities" IFRS 1021 in preparing the annual report and financial statements of
the Trust.
The financial statements have been prepared in ac¢ordan¢e 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 Infomiation
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 lo 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 ils professional advisers, are
given on page 3.
Objects. aims. objectlves and actlvltles
Charitable Objective
The main objective of the Trust is the advan￿Ment of the education and awareness of individuals and groups of
disabled and non-disabled people through residential and day programmes of adventure, leaming, challenge
and relaxation in a fully accessible and inclusive Christian environment. Through ils trading company,
Kepplewray Limited, a large mansion I'Kepplewray'l in the Lake District was acquired which, after substantial
renovation, enables the Trust lo meet its charitable objective. Programmes al 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 lo 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.
Achlevement and performance
Booking revenues were marginally down on last year and we saw a decrease in residential group bookings
which was partially offset by an increase in activity day bookings. We are putting this down lo the impact of the
ongoing cost of living crisis which has been fell across the board in the UK and as a result families are not able
lo afford some of the extras such as school residenlials.
The redevelopment and maintenance of the centre continued with further remedial work on dry rol and damp
being continued through the spring and summer of 2023 to great effect with signrficant improvements in the
appearance and overall condition of the ground floor areas in particular. However we did spend more than was
originally intended on the project as onTr il was underway further problems were revealed that required
immediate attention. This extra work resulted in a large overspend which has contributed to the losses reported
in these accounts. However these losses do need to be seen in the light of the capital investment which has
been made in the fabric of the building and which will underpin the future of our residential services for the next
30 years at least.
Plans are now in Pla￿ to further improve the dining room servery area and introduce a new reception office at
the front of the building. as well as installing new floor coverings in the halls and lounges. Fundraising work is
taking place to ensure this can lake place in the financial year 2023-24.
Continued.....
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Trustees, report (continued)
Achievement and performance {continuedl
Encouragingly we held our first major corporate Team Building Day when we hosted 60 people from the MOD
for a full day of team building challenges which was well received and has resulted in a repeal booking for 2024.
We hope lo grow this element of work in the future.
We continued close links with Broughlon-in-Fumess Primary School, welcoming their pupils for activities
throughout the year and providing freshly cooked school dinners for them on a daily basis. In particular the
Kepp Adventure programme continues lo inspire and equip these young children for living life to the full in the
great outdoors, whatever the weather.
We continue to make good use of our Participation Inclusion Fund, which provides greatly subsidised access lo
activities for hundreds of guests who would not normally be able to join us at the Cenlre.
We have welcomed continued support for the Participation Inclusion Fund by trusts, foundations and other
outside funders and we estimate that 1 in 4 of our visitors are able to come to the centre as a direct result of the
support they receive from the Participation Inclusion Fund.
In the summer 2023 we said goodbye to our strategic director who has contributed greatly to the increase in
revenue and external funding which have enabled significant improvements lo the building reported in last
year's report. In his place we have recruited a new CEO lo continue the strategic development of the Trust and
lo develop the long term suslainabilily of the charity's activities.
Our thanks are also due lo all of those who have made this continued momentum possible. To the staff team in
particular, bul also lo my fellow Iruslees, to our donors, lo our returning user groups, to our essential prayerful
supporters and lo the Broughton-in-Furness community. The combined efforts of all of these groups have
enabled our inciusive journey to continLJe and to evolve even through a period of great uncertainty and
vulnerability.
The Bethesda Project in Burundi
Through reslricled donations from supporters around the UK, the Trust has continued ils support of the work of
the Bethesda Project in the Muyinga diocese in northern Burundi. The work is carried out by national staff
under a team leader reporting to the Bishop of Muyinga. They visit people with disabilities, priorilising the young
in the villages around Muyinga providing holistic care. This includes providing physiolherapy, mobility and other
aids, nutrition advice, promoting long tem) self-sufficiency, and education lo try lo remove the barriers lo
inclusion.
Following the arrival of a new Bishop in June and the appointment of a new Bethesda team leader, we have
seen a significant growth in the maturity and effectiveness of the team.
Three experts from the UK were able to visit lo provide training including in triage, physiolherapy, planning and
budgeting skills. Later in the year the Bethesda team visited a similar more established work in Tanzania for a
week's training and the link with that work is being followed up with the Tanzanian team currently providing a
week of training in Muyinga to share best practice. We hope lo build on the links with the Tanzanian team going
forward.
The relatively low cost of operating in Burundi means much can be achieved with modest funds. We are very
grateful to our faithful supporters of this vital work in one of the world's poorest countries.
Continued.........................................
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Trustees, report (continued)
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 stsff, implement, review and amend our policies in order lo deliver the best
possible service lo our guests.
Thanks
Donations and grants are vital to the development of the Cenlre. We are very grateful lo 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 allached lo 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 al 30 September 2023 are in deficit by £701,33212022.. deficit of £666,296). Of this
amount, £673,45812022.. £683,458) are long term liabilities not dLJe to crystallise for at least 12 months from the
balance sheet dale. Allowing for this, the adjusted free reserves for the groLJP al 30 September 2023 are a
deficit of £27,87412022.' surplus of £17,162).
In regards to the deficit, this was due to a one-off expenditure on the repair of areas of the building which had
been impacted by dry rol and damp. Whilst we had funding for the majority of that work, il soon became clear
that there was more damage than previously thought. Given the importance of getting these issues cleared up
for the longer-lerm benefit of the building and our residential offer it was decided to keep going and finish the
work properly. We do not expect to have a deficit on the adjusted free reserves al the next year end.
The charity's free reserves al 30 September 2023 are in deficit by £70,941 12022.. deficit of £32,554>. Of this
amount. £239.14012022.. £239,140) are long term liabilities not due lo crystallise for al least 12 months from the
balance sheet dale. Allowing for this and the long-term debtor of £155,17312022.. £152,017), the adjusted free
reserves for the charity at 30 September 2023 are a surplus of £13,026.
12022.. surplus of £54,569}.
Future Developmgnt
The significant investment in the Kepplewray building has continued since the last report with damp and rot
problems being remedied, insulation improved and the majority of the windows being replaced in stages some
of which will continue on into 2024.
There are plans in place lo deliver further refurbishment works throughout the whole building over the next 5
years in a phased programme of works which will require significant fund raising and project management but
which are absolutely necessary in order to maximise the use and potential of the Centre building.
Structure, govemance and managemant
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 charitsble objects of the Trust except that they may not
undertake pem)anenl trading activities in raising funds to achieve ils objects.
Continued.......................................
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Trustees, report (continued)
Governing body
The charity is governed by ils trustees, of whom there are currently five. They are responsible for the
adminislralion 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 Iruslees 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 lo become a trustee. On the group, they are introduced lo 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, lo secure the exclusive use of the property at Kepplewray and enable the Trust lo further its
charitable objectives. The results of Kepplewray Limit8d are shown in note 15 to the financial slatemenls.
Rlsk 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.
Statement of trustees. responsibilities
The Iruslees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charities in England & WaleslNorthern Ireland requires the Iruslees lo prepare financial
statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the
incoming resoU￿e8 and application of resources of the charity for that period. In preparing these financial
stalemenls, the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP 2019 IFRS 1021.,
make judgements and estimates that are reasonable and prudent.,
stale whether applicable accounting standards have been followed, subject lo any material
departures disclosed and explained in the financial slatemenls.,
prepare the financial statements on the going concern basis unless il is inappropriate lo
presume that the charity will continue in operation.
The Iruslees are responsible for keeping proper accounting records that disclose with reasonable accuracy al
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
Chairman of the Trustees
Date
0910712024
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Indgpgndgnt Examingrfs Rgport to thg Tru$t09s of thg Kopplgwray Trust
I report to the charity trustees on my examination of the accounts of the charity Ilhe 'parent charity l and ils
subsidiary Ithe 'gmup I for the year ended 30 September 2023 which are sel out on pages 9 to 29.
Responsibilities and basis of report
As the charity's Iruslees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the charity's accounts Ibolh parent and group) carried out under section
145 of the Act and in carying out my examination I have followed all the applicable Directions given by the
Charity Commission under section 145151{bl of the Act.
Independent examinerfs statement
sin￿ the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in
section 145 of the Act. l confirm that l am qualified to undertake the examination because l am a member of the
Association of Chartered Certified Accounlanls, 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..
accounting records were not kept in respect of the charity as required by section 130 of the Act,. or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements conceming the form and conlenl of accounts
set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
8CCOUnts give 8 'lrue and fair view, which is not a maller considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be
reached.
Colin Johnson FCCA
MHA
Chartered Accountants
Kendal House
Murley Moss Business Village
Oxenholme Road
Kendal. Cumbria. LA9 7RL
Date .
0910712024
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Consolidated statement of financial activities
for the year ended 30 September 2023
Notes
2023
Restricted Unrestricted
funds
funds
2022
Total
Total
Income and endowments from:
Donations and legacies
Charitable activities..
Grants received
Accommodation and activities income
Other trading activities
Other
33.358
22.294
55.652
75,407
92.605
92,605
391,996
2.025
660
84,476
404,654
2,838
4,112
391.996
2.025
660
Total income and endowments
125,963
416.975
542.938
571,487
Expenditure
Raising funds..
Fundraising trading
Fundraising costs
Charitable activities
Provision of accommodation and activities
Other
Exceptional item
1.992
28.524
1.992
28.524
2,236
22,643
96.996
406.610
64,783
2.187
503,606
64,783
2,187
453,053
35,967
7,212
Total gxpgnditure
96.996
504,096
601,092
521,111
Net incomel lexpenditurel
28,967
187,1211
158,154)
50,376
Transfers between funds
Tax on activities
14
{43,2141
43,214
17861
17861 11,4941
Net movement in funds
{14,2471 144,6931
158.940)
48,882
Reconciliation of funds..
Fund balance brought forward
14
90.644
78.002
168,646
119,764
Fund balance carried forward
13, 14
76.397
33.309
109.706
168,646
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Trust statement of financial activities
for the year ended 30 September 2023
Notes
2023
Restrlcted Unrestrlcted
funds
funds
2022
Totsl
Total
Income and endowments from:
Donations and legacies
Charitable aclivilies..
Grants received
Accommodation and activities income
Other
33.358
22,294
55.652
75,407
92.605
92.605
391,996
4,125
80,476
404,654
9,421
391,996
4,125
Total income and endowments
125.963
418,415
544,378
569,958
Expenditure
Raising fLJnds=
Fundraising costs
Advertising & Marketing
Charitable activities..
Provision of accommodation and activities
Other
Exceptional item
14,356
14,168
14,356
14,168
11,193
11,450
96,996
440,610
35,764
2,187
537,606
35,764
2,187
462,149
32,551
7,212
Total expenditure
96.996
507,085
604.081
524,555
Unrealised loss on investment
Net incomel lexpenditurel
Transfers between funds
28.967
{43,2141
{88,6701
43,214
159.7031
45,403
14
Net movement in funds
{14,2471
{45,4561 159.7031
45,403
Reconciliation of funds..
Fund balance brought fotward
90.644
73,414
164.058
118,655
Fund balance carried fotward
76.397
27,958
104.355
164,058
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Balance sheet
at 30 September 2023
Note
Group
30 Sept
2023
Charity
30 Sept
2023
30 Sept
2022
30 Sept
2022
Fixed assets
Tangible assets
Investments
734,641
744,298
70.899
28.000
77,968
28,000
734.641
744,298
98.899
105,968
Current assets
Stocks
Debtors.. amounts falling due within one
year
Debtors.. amounts falling due after more
than one year
Cash at bank and in hand
3.092
20.883
2,332
30,342
2.181
20.883
1,996
30,342
io
70
155.173
152,017
104.685
175,895
102.956
173,955
128.660
208,569
281.193
358,310
Creditors.. amounts falling due within
one year
180.1371 1100,7631 136.5971 161,0801
Net current assets
48,523
107,806
244,596
297,230
Total assets less current liabilities
Creditors.. amounts falling due after
more than one year
783,164
852,104
343,495
403,198
72
{673,458) 1683,4581 {239,1401 1239,1401
Ngt assgts
109,706
168,646
104,355
164,058
Income funds
Restricted funds
Unrestricted funds
t3, f 4
t3, f 4
76,397
33,309
90,644
78,002
76,397
27,958
90,644
73,414
109,706
168,646
104,355
164,058
0910712024
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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Cashflow Statement- Charity
At 30 September 2023
2023
2022
Note
Cash flow from operating activities
Ilncreaselldecrease in debtors
Increaselldecreasel in creditors
Depreciation of tangible fixed assets
Ilncreaselldecrease in stock
(59,7031
6.303
{24,4831
12,079
(1851
45,403
{22,4091
17,1601
12,418
262
Net cash flow from operating activities
(65.9891
28,514
Cash flow from investing activities
Payments to acquire tangible fixed assets
Proceeds from disposals
18,1101
3.100
{11,4681
Net cash flow from investing activities
15,0101
{11,4681
Cash flow from financing activities
Net cash flow from financing activities
Net increase in cash and cash equivalgnts
{70,9991
17,046
Cash and cash equivalents at 1 October 2022
173.955
156,909
Cash and cash equivalents at 30 September 2023
102,956
173,955
Cash and cash equlvalents conslsts of:
Cash al bank and in hand
Short term deposits
102,956
173,955
Cash and cash equivalents at 30 September 2023
102.956
173,955
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Notes (forming part of the financial statements)
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.. Slalemenl of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 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 PLJblished on 2 February 2016 and does not include a cash flow
stslemenl on the grounds that il is applying FRS 102 Sertion 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 staled in the relevant accounting policy
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 al 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 unreslrided 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 lo be used in accordan￿ 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 lo the appropriate fund.
Income recogniTtion policiTes
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.
Accomm(Idation and activity income are recognised when the party has stayed at the premises and the
service has been provided. If a stay spans the year end, income will be accrued for the proportion of the
slay falling into the earfier year.
Volunlary income is received by way of grants, donations and gifts and is included in full in the SOFA
when receivable. Grants where entitlement is not conditional on the delivery of a specific performance
by the charity are recognised when the charity becomes unconditionally entitled lo the grant. For
legacies, entitlement is the earlier of the charity being nob'fied of an impending distribution or the legacy
being received.
The value of setvices provided by volunteers is not incorporated into these financial slalemenls. Where
servi￿$ are provided to the charity as a donation that would normally be purchased from our suppliers,
this Contribution is included in the financial statements al an estimate based on the value of the
contribution lo the charity. Donated services and facilities are analysed in note 2.
Investment income is included when receivable.
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Notes (continued)
Accounting policies {continued}
Debtors
Trade and other debtors are recognised al the selllemenl 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 al 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.
Credltors and pmvlslons
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 lo settle the obligation can be
measured or eslimaled reliably. Creditors and provisions are nom)ally 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 lo the category. Where costs cannot be directly attributed to particular headings they have been
allocated lo 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 Iruslees, and all the costs of complying with conslilutional and
statutory requirement, such as the costs of Trustees, meetings and of preparing statutory accounts and
satisfying public accountability.
Rent charged lo the charity by its subsidiary company is Irealed 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 Capilalised 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 al rates calculated lo write off the cost on a straight line
basis over their expected useful economic life as follows..
Freehold property
Leasehold improvements
Fixtures and fittings
Equipment
Motor vehicles
250/0112.50/0 for molorcars
100/0 with residual value of £1.000 for minibuses
33Q/o
Equipment in Burundi
The trustees perform annual impairment reviews lo ensure that the recoverable amount is not lower than the
carying value.
Operatlng leases
Rentals payable under operating leases are charged against income based on occupancy levels.
Investments
Current asset investments are stsled at market value at the balance sheet date. The SOFA includes the nel
gains and losses arising on revaluations and disposals throughout the period.
Fixed asset investments are ststed 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.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
14

Tlie Kepplewrdy T[U￿t
T￿￿te£S, TepaTI and cnii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
Accounting policies {continued}
Related party transactlons
The Trustees have tsken advantage of the exemption in the FRS 102 and have not disclosed related party
transactions with its subsidiary undertaking.
PensiTons.- Defined Contribution
The Charity sel up 8 pension scheme with The Peoples, Pension in March 2016 to comply with automatic
enrolmenl requirements. Contributions lo the scheme are charged in the SOFA as they become p8y8ble.
Going concom
The trustees continue to be very encouraged by the grants offered by supportive trusts and the way the
Participation Fund continues lo attract both donor support and customer take-up. There is a 'multiplier' effect
where PIF sponsored participants continue to encourage whole groups lo book both activities and
accommodation.
Post financial year end, the bookings situation and cash flow continue lo look strong even after significant
investment in the building and the Iruslees are satisfied that it is appropriate to prepare the accounts on a going
concem basis.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE

The Kepplewrdy T[U￿t
T￿￿te￿, TepaTI and coii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
1. Accounting policies Icontinuedl
Government grants
Govemmenl grants are recognised at the fair value of the asset received or receivable when there is
reasonable assuran￿ that the grant conditions will be mel and the grants will be received.
2. Donations and gifts
2023
2022
Group
Group
Charity
Charity
Individuals
Donated facilities
Charitable foundations
Companies
38.387
9.566
7.699
38,387
9,566
7,699
50,623
9,566
5,218
10,000
50,623
9,566
5,218
10,000
55.652
55,652
75,407
75,407
Of the £55,652 received in 2023 {2022= £75.4071 £33,358 was restricted funds {2022.. £54,280) and
£22,294 was unreslricted12022.. £21,127).
The charity is indebted to individuals for providing interesl-free loans to the group. The value placed on
this contribution is £9,566 12022.. £9,566), (Trust £9,566 12022.. £9,56611. The income equivalent is
recognised within incoming resources as a donation, and an equivalent charge is included within
interest payable.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
16

The Kepplewrdy TrU￿t
TrLi%tee8' TepnTI and coii%Dlidated financial filatement
3(18epleinber 2023
Grants received
2023
Group
2023
Charity
2022
Group
2022
Charity
Alpkit Foundation
Anonymous
BAE via LCVS
Beatrice Laing Trust
Benefact Trust
Catherine Cookson Charitable Trust
CGP Trust
CLA Charitable Trust
Coop Community Fund
Copeland Community Fund
Cumbria Community Foundation
Cumbria County Council
Edward Gosling Foundation
Firdale Christian Trust
Francis C Scott Charitable Trust
Four Acre Trust
HMRC Coronavirus SSP rebate"
National Lottery Community Fund
Roselands Trust
Sir John Fisher Foundation
SLDC Business Support Grant.
Souter Charitable Trust
Tesco Community Fund
Whirlwind Charitable Trust
160
25,000
500
5,000
160
25,000
500
5,000
3,250
3,250
3,000
350
5,000
331
3,000
350
5,000
331
1,000
1,000
1,551
3,019
19,500
1,000
10,000
1,000
25,000
7,000
1,551
3,019
19,500
1,000
10,000
1,000
25,000
7,000
5,000
5,000
5,000
1,000
5,000
1,000
6,000
135
6,000
135
9,000
2,785
9,000
2,785
20,000
4,000
4,000
20,000
4,000
500
4,000
4,000
500
4,000
4,000
92,605
92,605
84,476
80,476
Grants marked with a I'l represent unrestricted grants, all other grants are restricted.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
17

The Kepplewrdy T[U￿t
T￿￿tee8, TepoTI and cnii%Dlidated financial filatement
3(18epleinber 2Q23
Notes (continued)
Total expenditure- Group
Staff costs Other direct Other allocated
costs
2023
costs
Fundraising trading
Fundraising costs
Advertising
Provision of accommodation and activities
Other
Exceptional item
1,992
400
616
357,601
17,259
17
1,992
14,356
14,168
529,084
39,305
2,187
13,956
13,552
171,483
22,046
2,170
Total expenditure
223,207
377,885
601,092
Staff costs Other direct Other allocated
costs
costs
2022
Fundraising trading
Fundraising costs
Advertising
Provision of acwmmodalion and activities
Other
Exceptional item
2,236
2,236
11,193
11,450
453,053
35,967
7,212
11,193
10,367
159,510
19,211
7,184
1,083
293,543
16,756
28
Total expenditure
207,465
313,646
521,111
Staff costs as per Note 6. Other direct costs include..
2023
2022
Accountants, remuneration
Depreciation and profitlloss on disposal of asset
Interest payable
7,680
17,488
31,791
7,149
15,308
21,055
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
18

The Kepplewrdy T[U￿t
T￿￿tee8, TepoTI and cnii%Dlidated financial filatement
3(18epleinber 2Q23
Notes (continued)
4. Total expenditure (continued) - Charity
Staff costs
Other direct Other allocate(I
costs
Costs
2023
Fundraising costs
Advertising
Provision of acwmmodalion and activities
Other
Exceptional item
13,956
13,552
171,483
22,046
2,170
400
616
366, 123
13,718
17
14,356
14,168
537,606
35,764
2.187
Total expenditure
223,207
380,874
604,081
Staff costs
Other direct Other allocated
costs
costs
2022
Fundraising costs
Advertising
Provision of accommodation and activities
Other
Exceptional item
11,193
10,367
159,510
19,211
7,184
11,193
11,450
462,149
32,551
7,212
1,083
302,639
13,340
28
Total expenditure
207,465
317,090
524,555
Staff costs as per Note 6. Other direct costs include..
2023
2022
Accountants, remuneration
Depreciation and profil on disposal of asset
Interest payable
4.152
14.899
9.566
3,774
12,418
9,566
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
19

The Kepplewrdy T[U￿t
T￿￿te￿, TepaTI and coii%Dlidated financial filateTnent
3(18epleinber 2023
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 12022.. £Nill. Reimbursement of travel and meeting expenses to
trustees amounted lo £Nil {2022'. £Nill.
6. Staff numbers and costs
The total wages and salaries costs for the group were as follows..
2023
2022
Wages and salaries
Social security costs
Pension costs
206,206
8,947
8,054
192,137
7,874
7,454
Group total
223,207
207,465
There were no employees receiving more than £60,000 in the year12022.' None).
The average number of employees during the year, analysed by function. was as follows:
Number of employees
2023
2022
Cost of generating funds
Charitable activities
Management and administration of the charity
Group total
Kepplewray Limited has a total of 212022.. 21 directors.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
20

Tlie Kepplewrdy T[U￿t
T￿￿te£S, TepaTI and cnii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
Pensions
Defined Contribution Scheme.. contributions amounted lo £8,054 12022.. £7,454). There were no
amounts oulslanding al the period end 12022.. £Nill. Of the £8,054 in 2023 12022." £7,454} £nil was
restricted costs {2022'. £nill and £8,054 unrestricted costs12022'. £7,454}.
Tanglble flxed assets
Freehold Flxtures.
land and fittings and
buildings equipment
Motor
vehlcles
Total
Group
Cost
At 1 October 2022
Additions
Disposals
802,717
252,235
8,110
118,5861
58,548 1,113,500
8,110
118,5861
At 30 September 2023
802,717
241,759
58,548 1,103,024
Depreciation
At 1 October 2022
Charge for year
Disposals
106,984
226,048
7,438
115,4861
36,170
7,229
369,202
14,667
(15,4861
At 30 September 2023
106,984
218,000
43,399
368,383
Net book value
At 30 September 2023
695,733
23.759
15,149
734,641
At 30 September 2022
695,733
26,187
22,378
744,298
All of the fixed assets of the group are used by the group for direct charitsble purposes.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
21

Tlie Kepplewrdy T[U￿t
T￿￿te£S, TepaTI and cnii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
8. Tangible fixed assets Icontinuedl
Charity
Land and
leasehold
improvements
Equipment
Motor
vehicles
Total
Cost
At 1 October 2022
Additions
Disposals
67,477
157,409
8,110
118,586}
58,548
283,434
8,110
118,586}
At 30 September 2023
67.477
146,933
58,548
272,958
Depreciation
At 1 October 2022
Charge for year
Disposals
27.477
141,819
4,850
115,486}
36,170
7,229
205,466
12,079
115,4861
At 30 September 2023
27,477
131,183
43,399
202,059
Net book value
At 30 September 2023
40,000
15,750
15,149
70.889
At 30 September 2022
40,000
15,590
22,378
77,968
All of the charity's fixed assets are used by the charity for direct charitsble purposes.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
22

The Kepplewrdy T[U￿t
T￿￿tee8, TepoTI and cnii%Dlidated financial filatement
3(18epleinber 2Q23
Notes (continued)
Investments
Fixed asset investments: Investments in subsidiary undertaking
2023
2022
Charity
Ordinary £1 shares in Kepplewray Limited
Cost al 1 October 2022 and 30 September 2023
116,000
116,000
Net book value
Nel book value at 1 October 2022
Unrealised loss on investment
28,000
28,000
Nel book value at 30 September 2023
28,000
28,000
10.
Debtors
2023
2022
Group
Trade debtors
other debtors
Prepayments
16,385
3,972
526
29,461
881
20,883
30,342
Charity
Trade debtors
Other debtors
Group company I'l
Prepayments
16,385
3,972
155,173
526
29,461
881
152,017
176,056
182,359
"The amount owing from the group company is due after more than one year. The charitys
subsidiary company, Kepplewray Limited, is currently reliant on the charity to assist with bank loan
repayments. Kepplewray Limwted is not currently in a position to repay the group debt.
Accordingly, this debtor is stated as being due after more than one year.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
23

The Kepplewrdy T[U￿t
T￿￿te￿, TepoTI and cnii%Dlidated financial filatement
3(18epleinber 2Q23
Notes (continued)
11.
Creditors: amounts falling due within one year
2023
2022
Group
Bank loans and overdrafts
Other loans
Trade creditors
Other laxalion and social security
Accruals and deferred income
34,000
5,313
15,373
4,583
20,868
34,000
23,336
4,022
39,405
80,137
100,763
Movements in deferred income are as follows..
2023
2022
Balance al 1 October 2022
Amount Ireleasedlldeferred in the year
27,769
{15,399}
48,848
{21,0791
Balance as at 30 September 2023
12.370
27,769
The bank loan and overdraft are secured by a first legal charge over the land and buildings of
Kepplewray Limited.
2023
2022
Charity
Bank overdraft
Trade creditors
Other taxation and social security
Accruals and deferred income
14,932
3,797
17,868
22,147
2,528
36,405
36,597
61,080
Movements in deferred income are as follows..
2023
2022
Balance at 1 October 2022
Amount Ireleasedlldeferred in the year
27,769
{15,399}
48,848
{21,0791
Balance as at 30 September 2023
12,370
27,769
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
24

The Kepplewrdy T[U￿t
T￿￿te￿, TepoTI and cnii%Dlidated financial filatement
3(18epleinber 2Q23
Notes (continued)
12.
Creditors: amounts falling due after more than one year
2023
2022
Group
Bank loans
Other loans
343,131
330,327
371,818
311,640
673,458
683,458
Analysis of loans
Wholly repayable within five years-
By instalmenls
Other than by instalments
28,333
330,327
38,333
311,640
Not wholly repayable within five years..
By instalmenls
Other than by instalments
348,798
367,485
707,458
{34,000}
717,458
(34,0001
Included in current liabilities
673,458
683,458
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
25

Tlie Kepplewrdy T[U￿t
T￿￿te£S, TepaTI and cnii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
Creditors: amounts falling due after more than one year (continued)
The Barclays Bank loan 1£348,7981 is repayable over twenly-five years and will be repaid in full by
December 2033. It bears interest al 2Q/o 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 2023 amounted to £348,79812022.' £367,485}.
A government-secured bounce back108n for £50,000 was taken out with Barclays 88nk 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 £330,327 12022.. £311,640) are interest free. The Directors and Trustees have
received assurance from the lender confirming there is no obligation to repay before July 2025.
12.
2023
2022
Charity
Other loans
Bank loans
239.140
239,140
239.140
239,140
Analysis of loans
Wholly repayable within five years
By inslalmenls
Other than by inslalments
Not wholly repayable within five years
By inslalmenls
Other than by inslalment
239,140
239,140
239,140
239,140
Included in current liabilities
239,140
239,140
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
26

The Kepplewroy TtUSt
TrLi%tee8' repnTI and coii%Dlidated financial %latement
30 8epleinber 2023
Analysis of group net assots between funds
2023
Restricted
funds
Unrestricted
funds
Total funds
Group
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
734,641
52,263
{80,1371
1673,4581
734,641
128,660
180,1371
(673,4581
76,397
76,397
33,309
109,706
2022
Restrlcted
funds
Unrestrlcted Total funds
funds
Group
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities
744,298
117,925
1100,7631
1683,4581
744,298
208,569
(100,7631
(683,4581
90,644
90,644
78,002
168,646
14.
statement of funds - Group
2023
Restricted
funds
Unrestricted
funds
Total
At beginning of year
90,644
78,002
168,646
Income and endowments
Resources expended
Transfer
Tax payable
125,963
196,9961
143,2141
416,975
1504,096}
43,214
17861
542,938
1601,0921
17861
76,397
33,309
109,706
2022
Restricted
funds
Unrestricted
funds
Total
At beginning of year
80,061
39,703
119,764
Income and endowments
Resources expended
Transfer
Tax payable
138,313
172,3821
155,3481
423,608
1439,1631
55,348
11,4941
561,921
1511,5451
(1,4941
90,644
78,002
168,646
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
27

Tlie Kepplewrdy T[U￿t
T￿￿te£S, TepaTI and cnii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
14.
Statement of fund$- Group {continuodl
The general reserve represents the free funds of the charity which are not designated for particular
purposes.
The other transfers made between fijnds las shown in the statement of financial acliviliesl relate to
restricted income which has been expended on assets and is no longer required to be shown within the
restricted funds balance.
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 lake
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
Total
2023
Total
2022
Turnover
Cost of sales
36,025
(1,9921
26,838
{2,2361
Gross profiullossl
Adminislralive expenses
Other operational income
34,033
{32,485}
24,602
{23,6291
4,000
Nel profiullossl
Tax payable
1,548
1786}
4,973
{1,4941
762
3,479
The aggregate of the assets, liabilities and funds was..
Assets
Liabilities
666,381
1633,031}
668,606
1636,0181
33,350
32,588
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
28

Tlie Kepplewrdy T[U￿t
T￿￿te£S, TepaTI and cnii%Dlidated financial filateTnent
3(18epleinber 2023
Notes (continued)
16.
Related party transactions
There were no related party transactions during the current and previous year.
Taxation
17.
As a charity, Kepplewray Trust is exempl from lax on income and gains falling within sections 472474
of the Corporation Tax Act 2010, sections 478489 of the Corporation Tax Act 2010, or section 256 of
the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects.
No tax charges have arisen in the Charity.
Control
18.
There is no single controlling party of the Trust in the current and previous year.
Operating Lease
Kepplewray Trust leases the premises from Kepplewray Limited under a 99-year lease dated 1 January
1995. The monthly rental which is no longer lied to occupancy levels was initially set al £2,000 and was
increased to £3,000 from December 2022.
19.
DISCOVER @XEPPLEWRAY
DISCOVERADVENTURE. DISCOVER LIFE
29