2025-03-31-accounts

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BEDFONT LAKES TRUST FUND

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 315" MARCH 2025

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||||||| |---|---|---|---|---|---| |1|Reference and Administrative|Details ...........ccccsssssssssssressssssssesssssessesssesssesoensaseosarnenserenesesesseneeseaven| |2|Structure, Governance and|Management.........ccssssccrsssesssessssssrencesssssesscassssseassessserercoessessssassaseenee D| |3|Objectives|and Activities|.........sssssssssecsecssesenssstsessnesessssossocseesenesssenssssessssnsescareassnrasesesecsersersesenenesnened| |4|Achievements and Performance:|Year ended 31st March|2025|.......cccsssssscorssersecereeenessssersnvessseneeeee| |5|Financial|Review|csccccssssssssssessesssscsscureccsersecssensoyserscssseoueccenecovennsecensenasaracsessecseseossvessaeanacessiseesanecaseseed| |6|—_ Plans for Futtrre|Periods......cccsscscccssssssrsscsecssscscsctcccsseressssesneassensesegneneneneseseassecscaeenasaensepsvectassasessevarend| |7|Independent|Auditor’s Report to the Trustees of Bedfont Lakes|Trust Pur|........sssssscsesecrsreeeseee| |8|Statement|of Financial|Activities......ccssecccssscrevsosseecsscssnssecesvarsscseassescacesssesensssscousanseveveseccausaseransoe| |9|Balance Sheet|as|at 31% March 2025|......,ccscsssscovsersnsssoessseenentannsesearasepeerensescsesessssecesevecseseenssasevaves|LO| |10|Notes|to the Financial|Statements.........:scccscscssssssssssvecrsrsesssscrssisseesescesseaseccsssesrscsnnesenereesesosserseseacses|LDL|

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Registered charity no, 1053137

BEDFONT LAKES TRUST FUND

YEAR END 315? MARCH 2025 (continued)

1 Reference and Administrative Details

TRUSTEE: The Mayor and Burgesses of the London Borough of Hounslow ADDRESS: Hounslow House 7 Bath Road Hounslow TW3 3EB REGISTERED CHARITY NO.: 1053137 SOLICITOR: Assistant Director Corporate Governance London Borough of Hounslow Hounslow House 7 Bath Road Hounslow TWS 3EB TREASURER: Executive Director of Finance and Resources London Borough of Hounslow Hounslow House 7 Bath Road Hounslow TW3 3EB AUDITORS: Clempenss Rigas Ses one Registered Auditors 1-5 Como Street Romford RM7 7DN BANKERS: NatWest Bank 275 - 277 High Street Hounslow TW3 1ZA FUND MANAGERS: Schroder & Co 31 Gresham Street London EC2V 70A INTERNAL AUDITORS: Head of Internal Audit London Borough of Hounslow Hounslow House 7 Bath Road Hounslow TW3 3EB

BEDFONT LAKES TRUST FUND

YEAR END 315" MARCH 2025 (continued)

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2 Structure, Governance and Management
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2.1 The Trust was formally established on 20 December 1995 with the declaration of a charitable trust between Hanover Property Unit Trust and the Mayor and Burgesses of the London Borough of Hounslow (“the Council”). The Trust Fund is devoted to the general charitable purposes defined in the declaration of Trust.
2.2 The Trust Fund initially set up comprised a sum of £200,000, which had been previously pald over to the Council and a further sum of £1,000,000 enhanced as provided for in a previous agreement between Rutland Hall Limited and the Council (dated 13 May 1988). An additional sum of £750,000, enhanced as provided for, became transferable to the Trust Fund in accordance with the terms of an agreement dated 4 April 1990 between Keenhalf Limited and the Counell. Enhanced sums of £1,859,608 and £1,192,998 were paid to the Council on 20 December 1995 by Hanover Property Unit Trust and Keenhalf respectively.
On the formation of the Trust, £3,200,000 was transferred to Schroder Investment Management Limited (now named Schroder & Co) for appropriate investment.
23 The Bedfont Lakes Country Park Trust Fund Panel has been established by the Council to oversee the investment of the Trust Fund and to ensure that the resources are used In a manner consistent with the agreed lease. The Councillors appointed to the Panel for the year to date were: -
- Adesh Farmahan appointed 23rd May 2023 Farah Kamran appointed 23rd May 2023 Raghwinder Siddhu appointed 23rd May 2023 Bahadur Gurung appointed 23rd May 2023 Lily Bath appointed 27" May 2025

The Councillors are appointed to the Panel annually by the full Council.

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BEDFONT LAKES TRUST FUND
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YEAR END 318? MARCH 2025 (continued)

The Trust Fund Panel meets annually to monitor investment performance, review operational costs at the Country Park, and set the annual budget. The management and maintenance of the Country Park Is delivered by Lampton Greenspace 360 Limited.

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3 Objectives and Activities
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3.1 The charitable trust is established with the object of promoting public recreation and education by
the provision of resources for the maintenance, improvement, management and preservation of the
country park (which Is held on a 99-year lease) as open space land for recreational and leisure time
use by the public at large and for their education, enjoyment and benefit.
3.2 We have referred to the guidance in the Charity Commission's general guidance on Public Benefit
including its guidance ‘public benefit: running a charity (PB2)' when reviewing our aims and
objectives and planning our future activities. In particular, the trustees consider how planned
activities will contribute to the aims and objectives they have set. The trustees believe that providing
access to the park facilities Is of direct benefit to the well-being and enjoyment of the general public.
The park is open to access by any member of the public free of charge.
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4 Achievements and Performance: Year ended 31 March 2025
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4.1 The charitable trust has used the resources generated for the maintenance, improvement, management and preservation of the country park.

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4.2 The investment funds are actively managed throughout the year to provide sufficient return to meet
the net budget for the management and maintenance of the Country Park over the longer term. For
2024/25 actual income was £237,939 against expenditure of £260,031 resulting in a loss of £22,092
{excluding movements on investments).
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5 Financial Review

5.1 Reserves and Investments Policy

5.1.1. The Trustees aim to manage the Trust Fund so that it generates sufficient income to fund the annual maintenance of the park. For the immediate future, the assets of the Trust Fund are considered adequate for this purpose.
5.1.2 The Trust Fund will continue to be carefully invested and managed to help ensure It generates the required annual return to provide for the development and upkeep of the Park.
5.1.3 The principal source of funding for the Trust is the investment fund. Income trom the investment fund has supported the key objective of the charitable trust by providing resources for the upkeep of the country park.
5.1.4 itis the Trust's policy to retain funds in the form of investments that generate sufficient income to cover the cost of upkeep of the park in the future. The value of the investments held at 31° March 2025 was £ 5,581,272. Each year a budget is produced of the expected cost of the upkeep of the park for the coming year. The Trustees have reviewed the level of funds, along with the expected

BEDFONT LAKES TRUST FUND

YEAR END 315 MARCH 2025 (continued)

budget cost of the upkeep of the park and consider the funds to be adequate to derive sufficient investment return to finance such activities in forthcoming years.

5.1.5 The Trust's investment policy Is to maximise total returns after consideration of the annual budget requirement for the park's upkeep. The investment funds have provided sufficient return to meet the net budget requirement for the park.

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5.1.6 The investments are managed by Schroders. The fund has a balanced portfolio that is actively managed in order to provide the required return at an acceptable level of risk.

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5.2 Statement of trustees’ responsibilities in respect of the trustees’ report
and the financial statements ;
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5.2.1 Under the trust deed of the charity and charity law, the Trustees are responsible for preparing the Trustees’ 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 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: » — select suitable accounting policies and then apply them consistently; ¢ observe the methods and principies in the Charities SORP 2019; ° make judgements and estimates that are reasonable and prudent; . state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
5.2.2 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.

5.3 Risk Management Strategy

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5.3.1 The major risks to which the Trust is exposed have been Identified and considered by the Trustees.
The risks identified, the anticipated effect, and the steps taken and systems in place to mitigate
those risks, are contained in a risk management strategy statement, which has been reviewed by
the Trust Fund Panel.
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BEDFONT LAKES TRUST FUND

YEAR END 3157 MARCH 2025 (continued)

6 Plans for Future Periods

continue carrying out the key objective of the charitable trust.
6.1. The Trustees intend to continue to manage the Trust Fund in order to generate funds sufficient to

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Sig n behalf of the Mayor and Burgesses of the London Borough of Hounslow by:
Chair Gf the\Trust Panel Date
Executive Director of Fini nd Resources Date
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BEDFONT LAKES TRUST FUND
YEAR END 3157 MARCH 2025 (continued)
7 Independent Auditor’s Report to the Trustees of Bedfont
Lakes Trust Fund
Opinion
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We have audited the financial statements of Bedfont Lakes Trust for the year ended 31 March 2025 which comprise the Statement of Financlai Activities, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied In their preparation Is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Appticable in the UK and Republic of ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

e give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

e® have been prepared in accordance with the requirements of Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with international Standards on Auditing (UK) (ISAs (UK)) and applicable Jaw. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that ihe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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Conclusions relating to going concern

in auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, Individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responstbilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Other information
The trustees are responsible for the other information. The other information comprises the information included in
the annual report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other Information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears ta be materially misstated. If we identify such material
inconslstencles or apparent material misstatements, we are required to determine whether there Is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we are required to
report that fact. We have nothing to report in this regard.
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, BEDFONT LAKES TRUST FUND
YEAR END 318T MARCH 2025 (continued)
| Matters on which we are required to report by exception
| We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to reportto
| you if, in our opinion:
¢ the information given in the Trustees’ Annual Reportis inconsistentin any material respect with the financial
statements; or
| e the charity has not kept adequate accounting records; or
i e the financial statements are not in agreament with the accounting records and returns; or
i * we have not recelved all the Information and explanations we required for our audit.
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Responaibllities of trustees

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As explained more fully in the trustees’ responsibilities statement on page 4, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the trustee determines is necessary to enable the preparation of financial statements that are
free from material misstatement, whether due to fraud or error.
in preparing the financial statements, the trustees are responsible for assessing the charity's ability ta continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the trustee elther intends to liquidate the charity or to cease operations, or have no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financlal statements
We have been appolnted as auditor under section 145 of the Charities Act 2011 and report in accordance with
regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
materlal misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance Is a high tevel of assurance, but is not a guarantee that an audit conducted in accordance
with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, Individually or in aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities including fraud, are Instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material mis-statements in respect of Irregularities including
fraud, The extent to which our procedures are capable of detecting Irregularities, Including fraud is detailed below.
e We have designed our work to ensure that laws and regulations have been adhered to, and that the
transactions of the charity are properly reflected in the financial statements
We have obtained a detailed understanding of the Charity’s internal control systems and we have used the
knowledge gained to Identify any areas of risk of mls-statement or fraud, We have then designed our audit
tests in each area to identify whether In respect of the transactions we have selected for testing the relevant
controls have operated as expected.
¢ The charity Is in receipt of investment Income and we ensure that the reports of Investment performance
and asset valuations produced by the fund managers are properly reflected in the accounts. We then check
the valuations themselves to ensure they are consistent with other third party information.
The charity has a contract for the provision of services for the park area and we ensure that expenditures
on this are properly authorised, and that the charges are reasonable.
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A further description of our responsibilities for the audit of financial statements Is located In the Financial Reporting
Councll’s website at www.frc.org.uk/auditors responsibilities. This description forms part of our Report of the
independent Aiditors.
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BEDFONT LAKES TRUST FUND

YEAR END 318' MARCH 2025 (continued)

Use of our report

ThisAct 2011. reportOuris made audit solely work has to the been charity'sundertaken trustees, so as that a body, we mightin accordance state to the withcharity's Chapter trustee3 of Part those matters8 of the Charities we are required to state to them fn an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charity and charity's trustees as a body, for our audit work, for this report, or for the opinion we have formed.

D.M. Belbin BSc BFP FCA DChA Senior Statutory Auditor Clemence Hoar Cummings Riverside House 1-5 Como Street Romford Essex RM7 70N

pate: 19 Nuveen 2 ols

Clemence Hoar Cummings is eliglb!e to act as auditor in terms of Section 1212 of the Companies Act 2006.

if f |:

BEDFONT LAKES TRUST FUND

YEAR END 315" MARCH 2025 (continued)

8 Statement of Financial Activities

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|||||||| |---|---|---|---|---|---|---| |Notes|Unrestricted|Restricted| |Fund|Fund|Tata! 2024/25|Total 2023/24| |£|£|£|£| |Income from:| |investment income|165,757|72,182|237,939|238,351| |Total Incoming|165,757|72,182|237,939|238,351| |Expenditure on:| |Investment management costs|10,093|3,878|13,971|13,196| |Charitable|Activities|2|179,292|66,588|239,880|224,612| |Charitable|Support Costs|3|4,464|1,716|6,180|5,868| |Total Expenditure|187,849|72,182|260,031|243,676| |Netfor the Incoming/(Outgoing) Year|Resources|(22,092)|0|(22,092)|(5,325)| |Net (losses)/gains|on investments|(117,495)|(51,166)|(168,660)|298,962| |Net|(expenditereyincome and net|(139,587)|(51,166)|(190,752)|293,637| |font Balances brought forward|at 1st|4,321,461|1,881,867|«6,203,328|5,909,690| |Fund|Balances|carried forward 31st|4,181,874|1,830,701|«012,575|«6,203,328|

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Bedfont Lakes Trust has no recognised gains or losses for the year, other than the net movement in funds shown above. The Trust has nelther discontinued any of its operations nor acquired new ones, and all amounts relate to continuing operations.

The notes on pages 11 to 16 form part of these financial statements,

BEDFONT LAKES TRUST FUND

YEAR END 3157 MARCH 2025 (continued)

9 Balance Sheet as at 31°* March 2025

		2025	2024
		£	£
Fixed Assets
Investments	4	6,581,272	5,763,782
		§,581,272	5,763,782
			~—
CurrentAssets
Debtors	5	59,307	59,863
Cash		627,414	613,523
		686,721	673,386
Liabilities
Creditors	6	(255,417) (255,417)	(233,840) (233,840)
NetCurrentAssets		431,304	439,546
NetAssets		6,012,575	6,203,328
Funds	7
Restricted		1,830,701	1,881,867
Unrestricted		4,181,874	4,321,461
FundsCarriedForward		6,012,575	6,203,328

These financia! statements were approved and authorised for issue on behalf of the Mayor and Burgesses of the/London Borough ef Hounslow and signed on its behalf by: WW ChairOf tk i rust Pant i Date \ | \ | AO ' Executive Director of Finance and Resources Date 14 tf [[LOLS]

The notes on pages 71 to 16 form part of these financial statements.

BEDFONT LAKES TRUST FUND

YEAR END 315 MARCH 2025 (continued)

10 Notes to the Financial Statements

1) Accounting Policies

a) Accounting Bases A Summary of the principle accounting policies adopted, judgements and key sources of estimation of uncertainty, is set out below.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS102 Charities SORP 2019) and Charities Act 2011. The charity Is a public benefit entity for the purposes of FRS 702.

b) Funds Bedfont Lakes is managed and developed as a complete site, albeit it is cut in two by a railway line. On the establishment of the Trust, Keenhalf Ltd required that the funds they introduced be restricted to expenditure on that part of Bedfont Lakes which lles to the north of the railway line. The funds provided by Keenhatf Limited are therefore held as restricted funds. The funds provided by Hanover Property Unit Trust are held as unrestricted funds as they can be applied for the maintenance of the entire parkland area.

c) Invesiment Income Investment income is accounted for on an accruals basis,

The movement in investment values was apportioned between the restricted and unrestricted funds in the year 1995/96 (being the year the Trust was formally established) on the basis of the capital sum originally invested with Schroders, and in subsequent years on the balance of investments brought forward at 7 April.

d) Other incoming Resources Other incoming resources are accounted for on an accruals basis when there is entitlement to income, receipt is probable and the amount can be measured reliably.

Other incoming resources are allocated between the restricted and unrestricted funds on the basis of the direct costs of maintaining the parkland.

e) Resources Expended All expenditure is accounted for on an accruals basis and has been classified under headings that accord with the Statement of Recommended Practice. Expenditure is allocated between the restricted and unrestricted funds on the basis of the direct costs of maintaining the parkland to the extent to which incoming resources in the year relating to the restricted fund are available to meet such expenditure. Any excess Is borne by the unrestricted fund. 70% of Bedfont Lakes’ direct costs relate to the northern side of the park.

f) Fixed Asset investments investments are stated at market value Le. the realisable value of investments at the balance sheet date.

g) Financial instruments Financial instruments are recognised In the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Basic financial assets and liabllities are Initially measured at transaction price Including transaction costs and are subsequently carried at amortised cost using the effective interest method.

BEDFONTLAKES TRUST FUND

YEAR END 3157 MARCH 2025 (continued)

Investments are initially recognised at their transactions value and subsequently measured at their falr value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

h) Cash Flow Statement No cash flow statement has been prepared. As a small reporting entity, the Trust Is exempt from the requirement to prepare a cash flow statement.

i] Taxation As a charity the Trust is exempt from tax on the income and gains arising from its charitable activitles and Its Investments, to the extent that such Income and gains are applied for charitable purposes only.

) Value Added Tax (VAT) VAT is not recoverable by the Charity and, as such, is included in the relevant costs in the Statement of Financial Activities.

k) Treatment of Losses in the event that there are net outgoing resources in a year (being an excess of total resources expended over incoming resources) losses are allocated pro rata to the fund balances brought forward at 1 April (except 1995/98 when they were allocated to the funds on the basis of actual expenditure incurred In the year) unless the loss results from significant expenditure on one half of the site, in which case expenditure would be charged io the relevant fund.

1} Treatment of Surpluses In the event that there /s an excess of total incoming resources over total resources expended, such surpluses are deemed to relate to the unrestricted fund and are added to that fund each year. There is no allocation of any surplus to the restricted fund as the income from the restricted fund is insufficient to meet the cost of maintaining the northern side of Bedfont Lakes, the northern side being the only part of Bedfont Lakes that the restricted fund can be used to maintain. Therefore, any surplus by implication must relate to the unrestricted fund. .

m) Governance Costs

These are accounted for on an accruals basis and included within support costs. They represent the fee payable to the Trust's external auditors.

n) Liabilities These are accounted for on an accruals basis.

0) Investment Income

The Trust Fund incurs a fund manager's fee for the management of its investments. Reports provided by the fund manager separately identify investment management fees, and so these have been separately charged and recognised as a cost of generating funds.

p) Critical accounting estimates and areas of judgement in the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabllities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

in the view of the trustees in applying the accounting policies adopted, the only critical Judgement considered to have a significant effect on the amounts recognised in the financial statements Is the ‘ gllocation of deficits/surpluses between funds.

BEDFONT LAKES TRUST FUND

YEAR END 315? MARCH 2025 (continued)

2) Direct Cost of Charitable Activities

The Trust has one key charitable activity which Is the maintenance, improvement, management and preservation of the country park.

The management and maintenance of the Park was carried out by Lampton Greenspace 360 Limited and costs were recharged to the Charity.

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|||| |---|---|---| |2025|2024| |£|£| |Management of Bedfont Lakes Country Park|233,380|218,412| |Support Services|6,500|6,500| |239,880|224,612|

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3) Charitable Support Costs

No charges have been made to the Trust with regard to the preparation of the statutory accounts, the costs of Trustees meetings or legal fees. Other costs comprise the governance costs for the year which were:

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|||||| |---|---|---|---|---| |2025|2024| |£|£| |External|Audit|Fees|6,180|6,868| |Legal &|Professional|Fees|0|0| |6,180|5,868|

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4) Fixed Assets — Investments

Fixed asset investments are recognised in the balance sheet at their market value as at 31* March 2025.

a) The movements on Investments during the year are summarised below:

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Market Value at1|April|5,763,782|§,477,927| |Acquisitions during|the year|at|cost|-|(298)| |Disposals during year|at carrying value|(7,162)|(16,959)| |Net gains/{losses) on|revaluation|(168,660)|298,961| |Net|increase|/|(decrease)|In|cash|awaiting|investment|(6,688)|4,149| |Closing Value|6,581,272|5,763,782|

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BEDFONT LAKES TRUST FUND

YEAR END 315" MARCH 2025 (continued)

Realised losses on the sale of investments are calculated based on the carrying value of the investment at the start of the year. Unrealised investment gains and losses are based on movements in the market value of the investment.

Investments with a brought forward book value of £7,328 were disposed of in the year for proceads of £7,162 realising a loss on disposal of £167.

b) Fixed asset investments are recorded at their market value at 31** March. The historic cost of these assets Is disclosed below:

	Number	MarketValue	Cost
31st March2024	of Units	£	£
SchroderCashPoolAccount	0	6,955	6,955
SUTLCazenove Charity Responsible	10,225,269	5,756,827	5,698,900
		5,763,782	5,705,855
	Number	MarketValue	Cost
31stMarch 2025	of Units	£	£
SchroderCash Pool Account	0	268	268
SUTLCazenove Charity Responsible	10,212,269	5,581,005	5,691,655
		5,581,273	5,691,923

BEDFONT LAKES TRUST FUND

5) Debtors

YEAR END 318" MARCH 2025 (continued)

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|||||| |---|---|---|---|---| |2025|2024| |£|£| |Accrued|investment|Income|59,119|59,675| |Accrued|Licence|Income|188|188| |59,307|59,863|

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6) Liabilities: amounts falling due within one year

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|||||| |---|---|---|---|---| |2025|2024| |£|£| |Sums due to London|Borough|of Hounslow|239,880|224,612| |Investment management|fees due|3,489|3,360| |Audit|Fees|12,048|5,868| |Total|255,417|233,840|

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7) Analysis of Funds

Analysis of Net Assets by Fund

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||||||| |---|---|---|---|---|---| |Unrestricted|Restricted| |Fund|Fund|Total| |£|£|£| |Fixed Assets| |Investments|3,886,368|1,694,904|5,581,272| |Total|Fixed|Assets|3,886,368|1,694,904|5,581,272| |Current Assets|460,924|225,797|686,721| |Current|Llabliities|(165,417)|(90,000)|(255,417)| |Net Assets at 31st March 2025|4,181,874|1,830,701|6,012,575|

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8) Related Parties

The charity is administered by London Borough of Hounslow, and Bedfont Lakes Itself is managed by Greenspace 360, a 100% owned subsidiary of LBH. During the year £239,880 (2024; £224,612), was charged by London Borough of Hounslow as a contribution to the management of Bedfont Lakes. None of the Trust Fund Panel had any relationships with related parties,

BEDFONT LAKES TRUST FUND

YEAR END 315 MARCH 2025 (continued)

9) Employee Information

The Trust has no employees (2023/24 — none).

10) Remuneration of Trustees

None of the members of the Panel receive any emoluments or relmbursed expenses (2023/24 — none).

11) Comparative SoFA split of funds

	Unrestricted Fund	Festricted	tayappaia4
	£	£	£
Incomefrom:
InvestmentIncome	166,106	72,245	238,351
Other Incoming Resources	G	0	0
Totalincome	166,106	72,245	238,351
Expenditure on:
Investmentmanagement costs	9,284	3,912	13,196
Charitable Activitles	158,019	68,593	224,612
Charitable supportcosts	4,128	1,740	5,868
Total Expenditure	171,431	72,245	243,676
Net (losses)/gains on Investments	208,346	90,617	298,962
Net (expenditure)/incomeand netmovement in funds	203,021	90,617	293,637
Fund Balances broughtforward at 1stApril	4,118,440	1,791,250	5,909,690
FundBalancescarrledforward3istMarch2024	4,321,461	1,881,867	6,203,328

BEDFONT LAKES TRUST FUND

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 315" MARCH 2025

Contents

BEDFONT LAKES TRUST FUND

YEAR END 315? MARCH 2025 (continued)

1 Reference and Administrative Details

BEDFONT LAKES TRUST FUND

YEAR END 315" MARCH 2025 (continued)

YEAR END 318? MARCH 2025 (continued)

5 Financial Review

5.1 Reserves and Investments Policy

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5.3 Risk Management Strategy

BEDFONT LAKES TRUST FUND

YEAR END 3157 MARCH 2025 (continued)

6 Plans for Future Periods

In our opinion the financial statements:

Basis for opinion

Conclusions relating to going concern

Responaibllities of trustees

BEDFONT LAKES TRUST FUND

YEAR END 318' MARCH 2025 (continued)

Use of our report

pate: 19 Nuveen 2 ols

BEDFONT LAKES TRUST FUND

YEAR END 315" MARCH 2025 (continued)

8 Statement of Financial Activities

BEDFONT LAKES TRUST FUND

YEAR END 3157 MARCH 2025 (continued)

9 Balance Sheet as at 31°* March 2025

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10 Notes to the Financial Statements

1) Accounting Policies

BEDFONTLAKES TRUST FUND

YEAR END 3157 MARCH 2025 (continued)

BEDFONT LAKES TRUST FUND

YEAR END 315? MARCH 2025 (continued)

2) Direct Cost of Charitable Activities

3) Charitable Support Costs

4) Fixed Assets — Investments

BEDFONT LAKES TRUST FUND

YEAR END 315" MARCH 2025 (continued)

BEDFONT LAKES TRUST FUND

5) Debtors

YEAR END 318" MARCH 2025 (continued)

6) Liabilities: amounts falling due within one year

7) Analysis of Funds

8) Related Parties

BEDFONT LAKES TRUST FUND

YEAR END 315 MARCH 2025 (continued)

9) Employee Information

10) Remuneration of Trustees

11) Comparative SoFA split of funds