2022-03-31-accounts - Rockingham Forest Trust

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Trustees		JW Green
		G M Couldrake
		D C Watson
		J Charlton-Jones
		AWoolf
		C Hardie
Secretary		HP Secretarial Services Limited
Charity number		1050157
Company	number	03114783
Registered	office	The Visitor Centre
		Stanwick Lakes
		Stanwick
		Wellingborough
		Northamptonshire
		United Kingdom
		NN9 6GY
Auditor		Azets Audit Services
		Ruthlyn House
		90 Lincoln Road
		Peterborough
		United Kingdom
		PE1 2SP
Bankers		National Westminster	PLC
		9 Market Place
		Oundle
		Peterborough
		United Kingdom
		PE8 4BB
Solicitors		Howes Percival LLP
		Oxford House
		Cliftonville
		Northampton
		United Kingdom
		NN1 5PN

			Page
Trustees'	report		1-5
Statement	oftrustees'	responsibilities
Independent auditor's		report	7-9
Statement	of financial	activities	10 - 11
Consolidated balance		sheet	12-13
Company	balance sheet		14 - 15
Statement	ofcash flows
Notes to the accounts			17-37

Rockingham	Rockingham	Forest Trust has th	ree core values	ree core values	that support its mission:
Environmental		conservation.	We work to		conserve, protect and improve the	natural
			environment		at Stanwick Lakes
Celebrating	heritage:		We explore		and celebrate the rich heritage of	the site and the
			Nene Valley
Engagement		and opportunity.	We provide		multiple entry points for individuals	and communities
			to engage	with and enjoy Stanwick Lakes

					Unrestricted	Designated	Restricted	Total	Total
					funds	funds	funds
					general
				Notes	2022 f.	2022 6	2022f	2022	2021
In m n endowmen			fr
Generated funds					42,565	18,500	174,160	235,225 ~	338,979
Charitable activities							18,704	18,704&	34,722
Commercial trading	operations			in
trading subsidiary					707,785			707,785	579,662
Investments					531			531	540
Other income					368,527			368,527	12,932
Total income					1,119,408	18,500	192,864	1,330,772	966,835
~E* dit
Commercial trading	operations			in
trading subsidiary				8	554,563			554,563	517,797
Chantable activities				9	245,885	7,228	257,131	510,244	274,561
Net interest on defined		benefit
pension scheme					3,000			3,000	1,000
Other							176,320	176,320	2,551
Total resources expended					803,448	7,228	433,451	1,244,127	795,909
Net incoming/(outgoing)			resources
before transfers					315,960	11,272	(240,587)	86,645	170,926
Gross transfers between			funds		(361,447)	318,902	42,545
Net (expenditure)/income			for	the year/
Net (outgoing)/incoming			resources		(45,487)	330,174	(198,042)	86,645	170,926
Other recognised	gains		and	losses
Actuarial gain/(loss)	on	defined
benefit pension schemes					124,000			124,000	(57,000)
Net movement in funds					78,513	330,174	(198,042)	210,645	113,926
Fund balances at 1	Apnl		2021		246,553	189,220	2,546,986	2,982,759	2,868,833
Fund balances at	31 March 2022				325,066	519,394	2,348,944	3,193,404	2,982,759

Prior financial	year	year					Unrestricted	Designated	Restricted	Total
							funds	funds	funds
							general
							2021	2021	2021	2021
						Notes	6	f	6	6
n o
Generated funds							117,629		221,350	338,979
Charitable activities									34,722	34,722
Commercial trading		operations			in trading
subsidiary							579,662			579,662
Investments							540			540
Other income							12,932			12,932
Total income							710,763		256,072	966,835
~Edit
Costs of raising	funds					8	517,797			517,797
Charitable activities						9	94,415	2,712	177,434	274,561
Net interest on defined			benefit		pension scheme		1,000			1,000
Other									2,551	2,551
Total resources	expended						613,212	2,712	179,985	795,909
Net incoming/(outgoing)				resources before
transfers							97,551	(2,712)	76,087	170,926
Gross transfers	between			funds			39,018	(25,480)	(13,538)
Net (expenditure)/income				for	the year/
Net (outgoing)/incoming				resources			136,569	(28,192)	62,549	170,926
Other recognised		gains		and	losses
Actuarial gain/(loss)		on	defined		benefit pension
schemes							(57,000)			(57,000)
Net movement	in funds						79,569	(28,192)	62,549	113,926
Fund balances	at 1 April			2020			166,984	217,412	2,484,437	2,868,833
Fund balances	at	31 March 2021					246,553	189,220	2,546,986	2,982,759

						2022		2021
					Notes	6		F
Fixed assets
Tangible assets							2,335,255	2,446,370
Current assets
Stocks					18	16,394		5,141
Debtors					19	145,835		61,653
Cash at bank and in	hand					808,151		637,948
						970,380		704,742
Creditors: amounts	falling due			within	20
one year						(125,231)		(78,353)
Net current assets							845,149	626,389
Total assets less current			liabilities				3,180,404	3,072,759
Defined benefit pension		liability			25			(90,000)
Net assets excluding		pension		surplus/(deficit)			3,180,404	2,982,759
Defined benefit pension			surplus/
(deficit)					25		13,000
Net assets							3,193,404	2,982,759
Income funds
Restricted funds					23		2,348,944	2,546,986
Unrestricted funds
Designated funds					22	519,394		189,220
General unrestricted	funds					325,066		246,553
							844,460	435,773
							3,193,404	2,982,759

								2022		2021
							Notes	F		f.
Fixed assets
Tangible assets							16		2,335,255		2,446,370
Investments							17		1		1
									2,335,256		2,446,371
Current assets
Debtors							19	255,819		189,535
Cash at bank and		in	hand					635,075		462,338
								890,894		651,873
Creditors:	amounts		falling due			within	20
one year								(45,746)		(25,485)
Net current	assets								845,148		626,388
Total assets less		current			liabilities				3,180,404		3,072,759
Defined benefit pension				liability			25				(90,000)
Net assets	excluding			pension		surplus/(deficit)			3,180,404		2,982,759
Defined benefit pension					surplus/
(deficit)							25		13,000
Net assets									3,193,404		2,982,759
Income funds
Resincted	funds						23		2,348,944		2,546,986
Unrestncted	funds
Designated	funds						22	519,394		189,220
General unrestncted			funds					325,066		246,553
									844,460		435,773
									3,193,404		2,982,759

				2022		2021
			Notes
Cash flows from operating		activities
Cash generated from operations			27		358,125		282,161
Investing	activities
Purchase	oftangible fixed assets			(184,811)		(61,394)
Interest received				531		540
Net cash	used in investing	activities			(184,280)		(60,854)
Financing	activities
Payment	ofobligations under finance
leases				(3,642)		(11,923)
Net cash	used in financing	activities			(3,642)		(11,923)
Net increase in cash and cash equivalents					170,203		209,384
Cash and	cash equivalents	at beginning	ofyear		637,948		428,564
Cash and	cash equivalents	at end of	year		808,151		637,948

						Unrestricted	Unrestricted	Designated	Restricted	Total	Total
							funds	funds	funds	2022	2021
	Donations	and gifts					41,356	18,500		59,856
	Grants receivable for			core activities			1,209		174,160	175,369	338,979
							42,565	18,500	174,160	235,225	338,979
	For the year		ended	31 March 2021			117,629		221,350		338,979
4	Commercial		trading	operations	in	trading	subsidiary
										2022	2021
										6
	RF Trust	Enterprises		Limited						707,785	579,662

							2022 f	2021f
	Performance		related	grants			18,704	34,722
	Settlers						18,704	34,722
							18,704	34,722
6	Investments
							2022	2021
							f.
	Interest receivable						531	540
7	Otherincome
							2022	2021
							f	f
	Other income						3,810	12,932
	Insurance	claim					364,717
							368,527	12,932
8	Costs of raising funds
							2022	2021
							f	f
	Commercial		trading	operations	in trading	subsidiary	554,563	517,797

					2022	2021
					6	f
Staff costs					141,352	83,819
Depreciation		and impairment			119,606	123,146
Project costs, equipment				and materials	55,797	16,161
Printing and		stationery			630	363
Telephone	and postage				807	774
Travel and	subsistence				2,317	841
Fundraising		and publicity			283	606
Premises	and site works				158,710	29,409
Training					7,110	2,710
Subscriptions					361	250
Sundries					7,135	46
					494,108	258,125
Share of governance			costs (see note 10)		16,136	16,436
					510,244	274,561
Analysis	by	fund
Unrestricted		funds - general			245,885	94,415
Unrestricted		funds - designated			7,228	2,712
Restncted	funds				257,131	177,434
					510,244	274,561
Governance		costs
					2022	2021
					6	F
Audit fees					10,500	9,858
Legal and	professional				5,636	6,578
					16,136	16,436
Analysed	between
Charitable	activities				16,136	16,436

							Restricted	Total	Restricted
							funds		funds
								f
							2022	2022	2021
Net	loss	on	disposal	oftangible	fixed	assets	176,320	176,320	2,551
							176,320	176,320	2,551

The analysis of auditor'	s re	mu	neration is as follows:
				2022	2021
				f	f
Audit ofthe company's	annual		accounts	7,250	7,033
Other services to the	group
- the audit ofthe company's		subsidiaries		3,250	2,825
Total audit fees				10,500	9,858

Number ofemployee	Number ofemployee	s
The average monthly		number of employees	during	the year was:
					2022	2021
					Number	Number
Staff employed					22	26
Employment	costs				2022	2021
					6	6
Wages and salaries					364,755	362,057
Social security	costs				14,701	14,186
Other pension	costs				8,187	9,049
					387,643	385,292

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18	Stocks
						The Group		The Charity
					2022	2021	2022	2021
					f	f	F	f
	Raw materials		and consumables		16,394	5,141
19	Debtors
						The Group		The Charity
					2022	2021	2022	2021
	Amounts	falling due within		one year:			f
	Trade debtors				4,569	1,318
	Amounts	due	from subsidiary	undertakings			128,898	171,574
	Other debtors				39,392	8,796	33,287	4,761
	Prepayments		and accrued income		101,874	51,539	93,634	13,200
					145,835	61,653	255,819	189,535

								The Group		The Charity
							2022	2021	2022	2021
					Notes		f	f	f	f
Obligations		under finance leases						3,642		3,642
Other taxation			and social security				7,741	7,341	7,741	7,341
Deferred	income				21		24,217	31,537
Trade creditors							63,316	25,406	30,118	6,976
Accruals							29,957	10,427	7,887	7,526
							125,231	78,353	45,746	25,485
Deferred		income
								The Group		The Charity
							2022	2021	2022	2021
							f			f
Other deferred			income				24,217	31,537
							24,217	31,537
Deferred		income is included		in the	financial	statements	as follows:
								The Group		The Charity
							2022	2021	2022	2021
							f		f	f
Current	liabilities						24,217	31,537
							24,217	31,537

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Analysis	of net assets	of net assets	between	funds
					Unrestricted	Designated	Restricted	Total
					2022	2022	2022	2022
					f	f		f
Fund balances		at 31 March 2022		are
represented by:
Tangible	assets					4,992	2,330,263	2,335,255
Current	assets/(liabilities)				325,066	501,402	18,681	845,149
Defined	benefit	pension	asset			13,000		13,000
					325,066	519,394	2,348,944	3,193,404
					Unrestricted	Designated	Restricted	Total
					2021	2021	2021	2021
					f	f		f.
Fund balances		at 31 March 2021		are
represented by:
Tangible	assets					7,220	2,439,150	2,446,370
Current	assets/(liabilities)				336,553	182,000	107,836	626,389
Defined	benefit	pension	hability		(90,000)			(90,000)
					246,553	189,220	2,546,986	2,982,759


Retirement benefit	sc	e	mes						(Continued)
Key assumptions
								2022	2021
								0/	0/
Discount rate								2.7	2
Expected rate ofincrease			of pensions			in payment		3.2	2.85
Expected rate ofsalary		increases						3.7	3.35
Mortality assumptions
The assumed life expectations				on	retirement		at age 65are:
								2022	2021
								Years	Years
Retiring today
- Males								21.7	21.7
- Females								24	22.8
Retiring in 20 years
- Males								22.7	24.1
- Females								25.8	25.8
Amounts recognised	in	the profit and loss account:
								2022	2021
									f
Current service cost								29,000	25,000
Net interest on defined		benefit liability/(asset)						2,000
Total costs								31,000	25,000
Amounts taken to other		recognised			gains and losses
								2022	2021
								6	6
Actual return on scheme			assets					(63,000)	(202,000)
Less: calculated interest			element					19,000	18,000
Return on scheme assets			excluding		interest		income	(44,000)	(184,000)
Actuarial changes related			to obligations					(80,000)	241,000
Total costs/(income)								(124,000)	57,000

Retirement benefit schemes	Retirement benefit schemes	Retirement benefit schemes	Retirement benefit schemes								(Continued)
The amounts	included	in	the	balance	sheet	arising	from	the	charity's
obligations in	respect of defined			benefit plans are		as follows:
										2022	2021
											f
Present value	of defined	benefit		obligations						1,021,000	1,058,000
Fair value of plan assets										(1,034,000)	(968,000)
(Surplus)/deficit	in scheme									(13,000)	90,000
Movements in	the present value			ofdefined	benefit	obligations:
											2022
											f
Liabilities at 1	April 2021										1,058,000
Current service cost											29,000
Benefits paid											(11,000)
Contnbutions	from scheme		members								4,000
Actuarial gains and losses											(80,000)
Interest cost											21,000
At 31 March 2022											1,021,000

Movements in the fair	value of plan assets:	value of plan assets:
					2022
Fair value ofassets at	1 Apnl 2021				968,000
Interest income					19,000
Return on plan assets	(excluding	amounts	included	in net interest)	44,000
Benefits paid					(11,000)
Contnbutions by the employer					10,000
Contnbutions by scheme members					4,000
At 31 March 2022					1,034,000

	The fair value of	plan	assets at	the reporting	the reporting	the reporting	period end	was as follows:	was as follows:
										2022	2021
										f	f
	Equity instruments									692,780	648,560
	Debt instruments									196,460	183,920
	Property									134,420	116,160
	Cash									10,340	19,360
										1,034,000	968,000
26	Operating lease	commitments
	At the reporting	end	date the	charity	had		outstanding	commitments	for future	minimum lease	payments
	under non-cancellable		operating	leases,		as	follows:
										2022	2021
										f	f
	Within one year									1,875	1,022
27	Cash generated	from operations								2022 f	2021 f
	Surplus for the year									86,645	170,926
	Adjustments for.
	Investment income recognised			in statement			of financial	activities		(531)	(540)
	Loss on disposal	oftangible fixed assets								176,320	2,551
	Depreciation and	impairment oftangible				fixed assets				119,606	123,146
	Difference between pension charge and					cash contributions				21,000	15,000
	Movements in working capital:
	(Increase)/decrease		in stocks							(11,253)	6,925
	(Increase) in debtors									(84,182)	(36,187)
	Increase/(decrease)		in creditors							57,840	(6,890)
	(Decrease)/increase		in deferred	income						(7,320)	7,230
	Cash generated	from operations								358,125	282,161

Analysis	ofchanges	ofchanges	in net funds
				At f April 2021	Cash 1lowsAt 31 March 2022
				6	F	f
Cash at bank and		in	hand	637,948	170,203	808,151
Obligations	under	finance leases		(3,642)	3,642
				634,306	173,845	808,151