2023-03-31-accounts

Oirectors		J Burch
		R A Greatorex
		J G Hobson
		C M Twilley
		J0 Daffarn - Appointed			22.06.2023
		S M Clemente - Appointed				22.06.2023
		A R Cassidy - Resigned			07.12.2022
		CJ Dalley- Resigned		07.12.2022
		M J Muir-Smith - Resigned				07.12.2022
Secretary		M Woolhouse
Charity Number		1040693
Company	Number	02963773
Registered	Office	The Visitor Centre
		Milton Country Park
		Cambridge Road
		Milton, Cambridge
		CB24 6AZ
Auditors		Ensors Accountants		LLP
		Incubator 2
		The Boulevard
		Enterprise Campus
		Alconbury Weald
		Huntingdon
		PE29 4XA
Business	Address	The Visitor Centre
		Milton Country Park
		Cambridge Road
		Milton, Cambridge
		CB24 6AZ
Bankers		Barclays Bank Pic
		9 - 11St Andrews	Street
		Cambridge
		CB2 3AA
Solicitors		Mishcon de Reya LLP
		4 Station Square
		Cambridge
		CB12GE

Contents
	Page
Trustees'report	1-2
Auditors' Report
Statement offinancial activities
Balance sheet
Statement of cash flows
Notes to the financial statements

Cambridge Sport Lakes Trust Company fimlted by guarantee Year ended 31 March 2023 Trustees' report I	Cambridge Sport Lakes Trust Company fimlted by guarantee Year ended 31 March 2023 Trustees' report I	Cambridge Sport Lakes Trust Company fimlted by guarantee Year ended 31 March 2023 Trustees' report I
introduction rusees, so, etof I forthe earendsd31 March2023 The TheCamb dgegpo a es ns rt L k T It ste who are al directors for the purposes of the companies AG are pressed to present theirAnnual Repon and e strong s reacts y h 's r ies Act 2011, the corn ames Act 2005, Ihe Memorandum and Artcles f anna s amen 1st ts have been prepared n accordance v th the accounkng polioes set out on pages 8 and 9, and comply mth thee a ty's chsraies n P ortin Standard a licable in the Uk Assooalon, andAccounlngan epo ng y ar es a d R rl 0 ch t sl temsnt of Recommended p actce appl cable to chansss prepanng their accounts n accordance w thine Fi annal Rap g PP Rap ubl c ofIreland (FRS102).			of end
Vision and Public Benefit
The pnnopal oblectives of the chanty are the creation, maintenance and operation ofa Country PsrK with Mulk Sport Lakes ('Ihe CamDndge park and Lakes Project') The yrusteesco frmthattheyhaveconsi ere eir u esan ave u d 0 th d I dli d e regard to the gu dance conte ned in the Shanty commissioms general guidance on pule beneatwhe rsv ewng the chanty's aims and obleclives et t, lethe eofth e wl Mlto 0 nkypam t nlmporta 1300acrsmosalcofpubiiclyacceswblenaturalhabitatsincludnglakes, anetwokoffootpat s andinplanningfutureacs tes The Tn lees s ot, p t g o le fo rows, ka kin, and other xstersporw boih intra g d fo and cycle links, informal fealties for sports such as cyclmg, tnathlon, widswmmng, paddleboardng, and fishing, and a 2000m st etch ofwater suitable mung ya ng,
competikons
The Trustees are comimtted to addressng the g o ng and urgent public need for access to atural g esn and blue space and to ncrease access to outdoors orts, ncludn rovdin outreach progammesthat P ' 'SP ' 9
prov de equ pment and tra n ng for Ihe pubic benefit Themanacuwlynlheyearunderre ew as een econ nvs op h 0 th I 0 e eton of the country park known as Mkon Country Park Further details ofthis acbvity are given n there e ofachievements and perfonnance
belo The trustees see the succemful developmen o on oun ry a as a p I link 0 I P rk tel corn onsnt in the obiect es and ackvitas ofthe chantyand n pro dng enhanced local and mder puDI c benefit at the earl eel opporlun	ty
I bod es, and the local commun I have been, and v 0cont ue to be, engaged and consutted dunng the development ofthe Cambndge Park and Lakes Project so as toensure r cease toe orl and recreation s ace for all, rrrespecsve ofage, the faolikes are des gned fo excessnce anrl a e usable and accessbls by as The ph losophy of Ihe cambndge sport Lakes Trust remwns to secure a cess o sp P	that
gender, ability, income. ethnic ongin o bel efs
Objectives and AcffvNes While the trustees continue to plan for the malor ountry a sn a es rol, eon- i c p rk d L k p ect, th -ate Management Team at M Iton country park have provided Ihrough the year a wide range oface ses at the park —everything rfii r azn, and fromBatOetscting, PondOppng, andForest c ooactvieso u oor e, a s h I t t 0 Id Th ate, p k Runs, onentee ng, cycling, tnathlon compettons, paddleboarwng, Iisyaking, outdoor smmming, summer Nightsslargaxng, e en board games e en ngs, as ofvhich are wes-attended and welcomed by the community
Structure, Governance and Management
camDndge sport Lakes Trust is a egistered chanty (numbe 104D593j
It s a Company omded by Guarantee an no aving a s are cep Ih h tai It wrs incorporated under the Compan as Act 1985in 1994and has been aulhonssd to d spense wth the wxd 'I miled'in Is name
The Trust currently operates Miffon Country Park under s99-year lease, dated I Apnl 2008
There are no estnctions on the Trust's power to nvest The nvestment stmtsgy issst by the tr slees and lakes account of the expected demand for funds The strategy sset with n an overall pot cywh ch slates that nvestmenl fund s to be wvested in lo and medium sk nvesknsnls with a vie to ensunng that capital apprecel on ofthe fund exceeds inset on			the
The tr vices, assisted by staff, are respons ble for fo mulaung the strategy and polioes ofthe charity, includ ng the approval ofbudgets and exerosing knanc at control.
The irustees s s ofthe op non that assets a e a ailable to fulfil ths current obligabons ofthe chanty.
Fundralslng approach ofthe charity
Ounngff e penod, Ihe Trust has not engaged in any formal fundrawng st uctures, activikes, or practces There are no aggress e fund a 9 tee il 0 y y r sin hni ussem lo edb the Truslto eneatefundsfrommembersofths 9 pubic The Trust doss nol currently employ any external fundrae ng ser ices
The Trust has, of course, been acti ely engaged in racing income end capikrl n a numDer of other ways dunng the yea Th 0 gh our trading activ tes st Milton Country Park ws del ver an extens vs p ogra mme ofactiv tss and events (as set out above) that p cede accessible fad liras to a wde range of nd v dusts and g oops across pnvale, pubic, and chanlable sectors Fu ds are received into Ihe Country Park in th s way	the
The Trust race ves rental income from Grounds Cafe, the on-s te cafe st Milton Country Perk
Iricome is also generated in Ihs fo m of pa king race pls and h rs of visitor cent espaces ( nclu drip Ihe W Id Place)
Third pahy Grant Awards have Dean successfully applied for and used, for example, to regenerate a new seat ng and sensory garden space adlacent to the Milton country park cafe Members ofthe public can donate/makes voluntary cont bukon to the organ sat on in person at Ihe Country Park, through sspec fic Justgmng page, DYp, y p hone, 0 ost. or via the TrusVMiton Country Park websitss
These payments sre deemed suffiwent to meet the current obl gatio s ofthe Trust n a tannin ermssio endear n 0 Ithe nasl development For the deva opmen e am d ge Ioflh c D id pa k and Lakes prolsct our pnnopai tundra s ng strategy s initasy to identfya funding partner or partners n obtw g 0 go ry 9 ' v db workn in artnersh work, fodowsdby grant funding appl cat one an e see ng o pnva e d th k f t and corporate donat one to put in place speofc elements ofthe proposed fault as Our aspirat one wb only be achie s y g p p mth the releva t sulhont as and other organ sauons on a coliaboras sbasis
The Future
The conwstencyof theunderlyingb sinessthat snowestabls e a i on ounw a h d tM0 0 I p rkbodesweil TheTruslssteadfastinthepusutoftsgoalsandswesplacedtoprovidesposkvein9uenceandoutcomesala local, ego al, t al a d d**d te t nal level in the future
The trustees expect tosee both an expansion ofthe act ees at Mlton country park and egnificant prog ess for the cambndge pa k and Lakes proiect in the coming year
Achievements and Performance
The Tr stees are pleased to report a strong set of results for the year lo 31 March 2023
Our confdence n the conestency ofthe underly ng trading thalia now establ shed at Mlton Country Park bodes mll fo the future
The Trust has again been able to dative cap 1st nvestment in o e oun ry a roug t th c I p k th h s combinabon of chantable grants and income earned from tradng acbvees These imp oveme Is conlnue lo ha e e positive mpact on both trad ng perfo manes and ou balance sheet alual 0
The ee no doubt Ihat the demarid for publ cry access hie g can open space son a upward t end and that ail who pan c pates the pro son of such facil tea shares mo al obligaton to fnd ways to meet the grown
needs ofths populakons they serve
LookngaheadtheTrust saresie t gong cones, thproo o o cur en usiness pan f fblhts tb and an ever stronger case for the cad to expand the Cou try Park faol tee lo meet the rap dry de elopmg needs n north
Csnibldge and belohd
The Tr sl sstesdfast nthep recto sgoass swe pace o f I I d 0 I d t provides Fowl e nflue ca and outcomes at a locat, reyo al, nasonalandindeed nlernationsllevel n the f tore

Cambrtidge Sport Lakes Trust
Company gmlted by guarantee
Year ended 31 March 2023
In deperi dent auditors' Report to the members ofCambridge Sport Lakes Trlist
Opinion on financial statements We have audited the fnandal statements ofCambn ge po a es rus or ar e d S rlL k T t f the ye nded 31 March 2023 which compnse the Statemenl of Finanual Act v bee, Balance Sheet and riotes The fna cat report ng framevmrk that has een appis n air preps s b td th eton i appl cable la and Unrted Iongdom Accounlng Standards, incl dmg Fnanqal Report ng Standard slanaa d appl cable n the UK and Repubbc of ireland (United lqngdom Generaby Accepted Accounting practice)			Cash Flo Statement 102Tlie nenqa						and spo		related 0
Iri our op in on Ihe fnanqal stats ments
give a true and fair view ofthe slate ofihe chantabls company's affa rs as al 31 March 2023, and of ils income and expenditure for the year then ended,
ha ebeen properly 0 spared in accords ce mth Un led K ngdom Generally Accepted Account ng P acbce, and
have Dean prepared in accordance mth the requremenls ofthe Companies Acl 2006
Basisfor optnlon We conducted our aud t n accordance wth International Standards ori u ing ) ( I A dt (UK) (ISA (UK)j and applicable law our rssponsibilitas under those standards are further descnbedin the Audlors responsib audit of the qnanmal statements section ofour report 0 ars in coen en 0 an W d d nt fthe ch ntable company n accordance with the ethicalrequirements that are relevant to our aud t ofthe finanoal slatsme ts n umqent and a includirlgtheFRC'sElhical Standard, andwehavetulflledourotherethicalresponsiliiltesinsccordancewiththesersqurements INeDelevelhatthsauditevdencewshavsobtanedissu iq n pp										itss for the e ro nate to p
provide a bass for our op n on
Conclusions relagng to going concern
In auditing the finanqal statemenls, we have conduded that the Oireclors' use ofthe going concern basis ofaccounbng in the preparat on of the financ at statements is	appropnate				arne
Basedontheworkveha epertormed wehaveno eniis anymaen u I d f d t al ncerta nkes relet ng toe ants or condit one that, ndiv dually or colecbvely, may cast sgnrticantdoubt cont nue as a go ng concern loi a psnod ofat least twelve months from when the fnanqal statemenls are aulhonsed fo ssue		on the chantable				company'sebi					ty to
our respons bsties and the respons 0Iles oflhe orectors th aspect to gong concern are descnbed m the relevant sections ofthis report
Otherlnformatlon
I re orl other then the finanqal statements and our auditors report Ihereon The directors ere responsible for the other informat on contained w thin The other infonnaton compnses the nformaton included in the annus po er sn theannualreport, uropnonon s inanca s ns n,0 Ih f o sf tatements does not cover the other nformaton and, exceplto the extent othsnuse expl citlystated in our report, we do no express any arm o assurance cence r ' fthe siereon ourresponsiblitystorsadlheothe informatonand, n ongso, consi er e sr d, d wh th the other informabon s mate sly mconsstent mtn the t'nanoal statements o our knovdeilge obis ned in the coute 0 a matenal mbstatemsnl n the audrt, orothelwseappeastobematsnegymasse I wei sni suc m c I I d f d tfy h atenal tn onsislenqes or apparent matenalmsstalemsnts ws are requ red to riots mne whether the 0 ves rne to ena miss as or hat fact financ at stalemenls Ihemsslves. 0, ase on em we ave , b 0 th rk h performed, we condude that there s 0 mstenalmsslatement ofthis other informabon, we are required t report t e
We have nothng to aport n the regard.
Opinions on other matters prescribed by the Companies Act 2006
In our op nion, based on the work undertaken in the course ofthe a drt
the nformslion given in the trustees' report for ths f na noel year for which the finanoal statements are prepared is cons stent mth the ananqat statements, and
the bustees' report has been prepared n accordance Ih appl cable legal requrements
Matters on which we are required to repoh by excepdon
In the light ofour knowledge and understanding o e an a e company 1th ch t bl and its env ronment obtained in the course ofthe audit, we have not identged malenal rnisstatements We have noth ng lo report in respect of the follow ng matters in relabon to which the Companws Act2006 requires us to report to you d, in our op n on		in the	Trustees' Report
adequate account ng reco ds have not bean kept, or returns adequate for our aud t have not been received from branches not veiled by us, or Ihe fnanoal statements are ot n agreemenl th Ihe accouiiting records and returns, or
certain disclosures of Trustees'remuneraton specgsd by la are not made, or
we have not race sd asthe informat on snd explanat one we requ re for our aud t; or the trustees were not entitled to prepare thefnanqsl statements in accordance mth Ihe small compsn as rag me and take advantage ofIhe small compames' exempt one in pre			panng		tile Trustees'
report snd from the requirement to prepare a strategic report
ResponslbgMes oftrustees
As explained more fuly n the trustees' responsibillex statementsetout on page, e rus ebs are r 2, th I I esponsible for the preps ason ofthe gnanqal statements and for for such nternal control as the trustees dstermme 0 necessary to enable the preparabon ofgnariqal statements that are free from matenal m sstatement, whether due	Dang sat to fraud	seed that they give or error				a	Irue	and		far		view, and
ln prepanng the snanoat statements, the trustees are responsi e r a bl fo ssessing the company's atxlty la continue as a going concern disclosng as appkcsDle, matters concern base ofaccounsng unless the trustees wlhe ntend to I quidate Ihe company or to cease operabons, 0 have no realisbc altemab e butte do so	related	to going		concem and			using		the going

Cambridge Sport Lakes Trust
Company limited by guarantee
Year ended 31March 2023
Statement of Financial Activities
	Nou	Unrestricted Funila 2023 8	Reslncled Funds 2023 6	Total Funds 2023 2	Unrestricted Faiids 2022 2	Resbicted Funds 2022 2	Total Fahda 2022 4
Income
Votuntao ncome			41,288	41,288		12,435	12,435
-Const ons Income from ch ants hie acavi tea -Program fees snd sponsomh p - M lion Country Park income Grants race ved		20,772 4,583	390,730 63,916	70,772 395,313 63,916	28.173 1,015 4 102	367,250 80,088	28,173 368,265 SO.O88 4 102
Job Retent on Scheme Grant income Total income		25,355	495934	521,289	33,290	459,773	493,063
Expenditure Chantabie aca tea		61,372	434 139	495,511	62,399	407,290	469,689
Total expenditure
Net Incoming I(outgoing) Resources for Ihe year		(36,017)	61,795	25,778	(29,109)	52,483	23,374
Other recognised gains and losses						165,000	165,000
Unreal sad gains on tangible fred assets Net movement n funds relaang to the year Totalfunds broughtforwa d as at 1st Apnt 2022 Totalfunds cerned fonmrd at 31 March 2023		(36,017) 486,465 450 449	61,795 495276 557 071	25,778 981,741 1007519	(29,109) 515,574 assess	217,483 277,793 495270	188,374 793,367 981 741

Statement of cash flo	ws
				2023	2022
				6	6
cash flows from operating actmties Cash generated fiom operat one				35,060	50,209
Interest paid				(15,196)	(12,787)
Met cash Sow from opsrabng		actvkies		19,864	37,422
Investing activmes Purchase of tangible exec asseis				(40,?45)	(73,294)
Financfng acbvities
Movement on loans				(16,344)	(24,092)
Cash and cash squna	lan ts at the		begnn ng of the yea	40,265	64,357
Cash and cash equivalents al		the end ofthe year
				2023	2022
				8	6
Cash generated from	opsratlo		s
Su plus fo the year				25,778	188,374
Ad)ustrrrlihts for' Finance costs Ceprenaton				15,196 26,263 0	12,787 22,755 (165,000)
Re aluaton
Movement In working Increase in debtors Inc sass in crecito s	capital			(38,731) 6,554	(32,654) 23.947
Cash generated irom	operations
				I April 2022	Cashflows	31March 2023
				f.	6
Analysis ofchanges	in net debt
Cash at bank and n hand				40,265	(16,344)	23,921
Sorrov ngs				166017	20 381

Cambridge Sport Lakes Trust
Company limffedby guarantee
Year ended 31March 2023
Notes to the ffnancial statements
Accounffng poffcies
Company information Cambndge Spode Lakes Trust is a company imited by gua antes incorporated n England and wales regskalion numbe 02863773 The reg ste ed ofbcs is The Viator Cent e, M Iton Country Park, Cambridge Road, Milton, Cambrtdge, 0524 6AZ
Accounying comenffon
The acco nts have been p epa ed in accordance w th Ihe Chardy's Arbcles of Assooabon, the Compan es Act 2006 and "Account ng a d Report g by Chant as Stateme t ol Recommended Pracbce appl cable chanties prepsnng the accounts m accordance with the Fnanc al Reporting slantlard appl cable in the UK and Republ cof I eland (FRs102)" The chardy sa pubic Sanest Enkly as defned by FRs102		to
Thefinanoalstale e I a p pa e nss g, c " e d t m, m hathef mo al re y fthech ly Monetaryamounts nlhesesnanoalstatenientsaeroundedlothenearestE
The pnnopal acmlunbng pol cas adopted are set out below
Going concern
Notmthstandng nel current Iah Ities of7108068 (current assets of525 710),st the lime ofapproving the fnanoal statements, the directors have a reasonable expsctabo that the company has adequate
esca css to continua r ope abonal ex stance for Ihe fo eseeable future Thus the d rectors cont nue to adopt the gong concern basis of accounbng in prepanng ths snanc at statements
The directors ha e prepared income and expe dl re forecasts lo 31 March 2025.These sho that the company can operate wt g es g p hnitsa dworkin ca lalfaolffesforthwpenod Inaddion, in the Doth the current and pre ous year (see nots 15for funher information), a formal loan agreeme t has been p I in piece (effect vs dates 31 March 2015 and 31 March 20201wlh a trustee, fo repaymertt due on 31 March 2024 anil 31 Ma ch 2025 However, repayment ofthese toa 5 s only required when there is sufbosnt capiial ava labia This hss helped ihe company to manage ts day to day work nb
cap tal as required and has pro ided further head oom mo ng forward
Tangible Sxed assets and depreciation
Leasehold lanrl and Duilcinqs were re al ed in the pre 0 s account no penod and the chanqs in slue has Dean accounted for n accomance mtr FRS 102
Other tarsi Die fixed assets are staled at hsloncal cost less depredation and imps rme t
Oep ac alon is provided at rates calculated to w ts offthe eral less residual val e ofeach asset over its expected satul Ife, as follows
F eehoid Land and Bu ld gs Leasehold Land and Buldrigs No dspreqatmn No dep coat on The Freehokl and Leasehold propeny in the accounts s not depreoated as the pract ca of regular maintenance and reps 8 such that the prs ously assessed standard s ma isned Fixtures, filbngs and equip enl Property, plant and equ pment 33%strmght lnb 10'/, straight Ine impairments Fixed assets are revieued fo mpmrmenl fevents or changes n wrcumstances ind cate that the carrwng amount may not be recoverable or as othenuse equ red by relevant accounting stands ds shortiaas between the carrying slue off sd assets and ther reco arable amounts, being Ihe h gher ofneireal sable value and al e&n use, are recognwed as imps rments Investments Feed asset investments a e ncluded at ma ket value at Ihe balance stleet date Any gain or loss on revaluabon is taken to ths Statement of Finanmal Act vitae Rnanctal instruments The company has elected lo apply ths provisions ofsect on 11 'Baste Finanmal instruments' and sect on 12 'other Finanoal instruments Issues' ofFRs 102to aa of ts finsnoal nstruments Financ at inst uments a s ecogn sad in the company's balance sheet when the company becomes pahy to the contractual provis one ofths nstrument Fnanoal assets and kabiiit as aie offset vrth the net amou ts prese led In the fnan col statements when Ihere is a legally enfo csable nght to set offthe recogn sed amounts and there is an ntent on tosettle o a net bass or to rest as Ihe asset and sable the Iability s multansousiy Basic Tnanclal assets de debtors and cash a d Dank balances, a e nikaay measured at Iransacbon pres includ ng t ansacbo costs and are subsequently cerned at amonisett cost using the effective Basicfnanoalassets, whchmclude orden a f h r cei Ismscou ledatamarketrateofinterest Fnanoalassets nteresl method unless the arrangement const totes a ffnanmng transacton, whe 6the Iiansacuon 8 measured at the present slue o t sf ture eceip scou class fed as ace vshie v thin one year are not amort sad classiscatlon offfnanmal gabilmes FinanoaHiabiltssandequtyinstr menlsarecass edacco ng o es nceo 0 rd I th bats fthe cont acl al ansngements entered into An equity i struma I s any contract ttial e dances s res dual inta est in the assets of lhe company affer deduct ng aa of ts tab Ilies Basic Sna net at gabffrties dt, b klo, l nsfomfetlowgro pcomp»a dc sf hae sale c lessned sdebt. . .telly e. 0 s daltansacbonpnceunlessthsarrangement BaacffnanoaHtablities, nclud gae ors, an cans, oa 'o", , I 0 das a able thnons ear consbiutes a finanong Irsnsacbo, Mere e e ns umen s mea* u k un th d bt I nt sured at the present slue ofthe future payments discounted ate market rate of interest Fnanoallabildies casa e p y y are not amort sed Oebt instruments are subseque tly cerned al amorbsed cosk us ng the effsc!va inta est rale method Tradecreditosaeoblgationstopay orgoo sores ces a ave u f 0 th t h been acq red n ths ordrnaocou se of business from 8 ppliers Amounts payable are classa'ed as current lab t tea d payment e due wthn one year or less If not, they are p esented as non-cur en a es a e cre a e t k bit T 0 0lors lecognised nil atty at tra sacbon pncs and subsequently masse ed at smart sad cost using the effect e nterest method

7	Tangible feed assets	Land and buildnigs leasehold	Land and bugdings freehold	Land and bugdings freehold	Flntufee, fimihgS ahd equipment	Flntufee, fimihgS ahd equipment	Property Plant 8 Eq ipment	Total
		8	6		6
	CostfRevaluatlon Al 1 Apnl 2022	1,186,959		90,000		58,596	139,111	1,474,665
	Aud tio s	21,641				15,875	2,729	40,245
	DSpoSSIS
	Re aluation
	At 31 March 2023	I 208600		90000		74471	141 840	I 514910
	Depreciation and impairment At I Apnl 2022	245,429				46,457	30,794	322,680
	Charge for the year					12,186	14,077	26,263
	Dnoosals
	At 31 March 2023	245429				58643	44 871	348943
	Net book values At 31 Marcli 2023	963170		90000		15828	96969	1 165967
	AI I Apnl 2022	941 529 directors		90000		12139	108317	I 151985

8	Feed asset Investments					Sutmidiary Uhdehaldhgs	Other' Uhgsted
						shares	investments	Total
						6		6
	Cost
	At I Anni 2022
	Admtions
	Dsposais
	Rsvaluabons
	At 31 March 2023
	Net book values
	At 31 March 2023
	At I Apnl 2022
	Holdings of 20'A or more The company holds 20'/ or more ofthe she 8 capital of the folio		ng company
	Company			Country of reglstrat on of ihcorpor8flo		Nature of business	Shares held Ci888	Pfoponion ofsnares held
	Subsidiary undertaking Cambndge Spoh Lakes	T ad ng Limited		England		Dormant	Ord nary	100'4
	Racists ed ofgce
	Milton Country park
	Cambndge Road
	Milton, Cambndgs
	0824 6AZ