2023-03-31-accounts

2023

email: [e-mail] website: rameconservationtrust.org.uk

ANNUAL REPORT

Company Information

Trustees

Ursula Stevenson – Chair Chris Day Lyn Reid Caroline Vulliamy Dr Malcolm Cross - resigned 10 October 2022 Cathy Green Dick Ogilvie

Secretary Chris Day

RAME CONSERVATION TRUST

(Private Company Limited by Guarantee)

Annual Report and Financial Statements for the year ended 31st March 2023

Company Number : 3440492 (England and Wales)

Registered Charity Number : 1066389

Treasurer Chris Day

Independent Examiner Andrew Wing LLB FCA Wings Accountants Ltd Unit 1, Pearl Assurance House Elbow Lane Tavistock Devon PL19 0BG

Bankers

Lloyds TSB Derrys Cross Plymouth Devon

Registered Office: The Nissen Huts Maker Heights Cornwall

Contents

Chairperson’s Report	1-2
Treasurers Report	3-5
Trustees Report	6-7
Independent Examiners Report	8-9
Statement of Financial Actvites	10
Balance Sheet	11
Notes to the Financial Statements	12-19
Maker Heights Limited Review	19-20

Chairperson’s Report

April 2022-March 2023 saw some great projects, important protection for the site, a great boost for the campsite and strengthening of the creative hub by community-run businesses at Maker Heights.

The year saw the successful completion of the Monuments Matter to People project, led by the Cornwall Area of Outstanding Natural Beauty (CAONB) and funded by the National Lottery Heritage Fund. The project delivered health and well-being benefits for participants taking part in conservation and creative activities, from helping to cut back gorse to botanical drawings. We were successful in obtaining two heritage grants this year. In December 2022 we were awarded £10,000 by the National Lottery Heritage Fund towards a ‘Vision for Grenville Battery’, which is the first step to finding a future use for this Scheduled Monument. Le Page Architects and the Real Ideas Organisation have teamed up to assess options which deliver community uses and provide financial sustainability, while conserving the unique features of the fortification. In January 2023, we were awarded £18,000 by Farming in Protected Landscapes (FiPL) for a historic landscape appraisal, geophysical survey and conservation volunteering, with the aim of learning more about the nationally important landscape at Maker Heights. Both projects are due for completion by the end of 2023.

The Maker Heights Conservation Management Plan, which guides the protection, repair and sustainability of the site, was adopted by Cornwall Council in early 2023. The Trust have commenced repairs to the Sergeants Quarters at the Barrack Block and committed to a further investment plan, which will look to replace the roof tiles and repair the building’s guttering, downpipes and other drainage elements. We have also been working with Evolving Places (owner of the adjacent Seaforts Campsite) on energy use,

water supply and wastewater management across the site.

The volunteer-led Redoubts Working Group have grown in number and become integral to our work, both in conserving these fortifications and enabling the public to learn more about them. They have run a number of tours,

1

Chairperson’s Report (cont.)

passing on their wealth of knowledge from the mystery behind the unknown soldier’s grave to discovering more about the defensive strategy of Redoubts 4 and 5. They invited archaeological experts to explore the 18th century (very rare) powder magazines and worked with Pigshill Woods to clear vegetation, revealing lost features.

Taking advantage of the soaring temperatures last summer, the campsite, run by our trading subsidiary Maker Heights Limited (MHL), had a record year. Over 6,000 campers were welcomed on site, Trip Advisor reviews were consistently positive and campsite income surpassed that of financial year 2021/22 where the emphasis on staycations due to the COVID-19 pandemic had brought many new visitors to site. The men’s toilets and shower facilities were refurbished in early 2023 following on from an earlier investment in 2022 in a new ladies’ shower and toilet block. We are now seeking funding for disabled facilities, so that everyone can enjoy the stunning views and Maker sunshine on offer. To this end, MHL committed to maintaining prices for the 2023 season to help people with affordable holidays during the costof-living crisis. I would like to thank MHL directors and campsite team for all their hard work behind the scenes, in making the campsite and wider site a welcoming place to visit.

The tenant-run businesses on site have also continued to contribute to growing our visitor and membership base. Our local communities and visitors have dined on delicious local food, viewed sunsets from the campsite pop-up, sampled inventive cocktails and mocktails, enjoyed inspiring exhibitions and community events, film nights, table-tennis tournaments, live music, spoken word, and comedy, attracting talent from all over the country to our doorstep. There have been a huge range of learning opportunities, from book-binding and festive crafts to art classes, music lessons, activity-filled autism retreats, foraging and cooking wild ingredients.

I would like to thank Cornwall AONB and Historic England, for their ongoing support and advice, with everything from funding opportunities to technical knowledge. I would particularly like to thank the Mount Edgcumbe Estate for their vital support with conservation projects on their land.

Signed:

Ursula Stevenson - Chair

2

Treasurer’s Report

Maker Heights Limited is the wholly owned subsidiary of the Rame Conservation Trust and responsible for the trading activities on site including studio rentals, campsite and other activities. It has had a second successful year and its results are summarised in their review of the year included at the end of this annual report.

As a consequence of their continuing success operating the campsite the company was registered for VAT in October 2022. This means that for future years VAT will be levied on all campsite income. However, VAT on expenditure can be reclaimed and projects related to the campsite or their activities will now be taken by Maker Heights Ltd. The first of these was the refurbishment of the men’s toilets and showers, which have been completed in time for the 2023 season. This resulted in some £40,000 in costs being incurred by Maker Heights Ltd thus reducing the gift aid paid at the end of the year to the Rame Conservation Trust.

Grants have been more difficult to come by with many grant funders focussing on community schemes rather than heritage refurbishment. The tender document for the Barrack Block refurbishment was completed with financial assistance from Historic England but funding pressures mean we will likely need to fund the improvements over an extended period of time and from internal resources.

INCOME

There has been a considerable drop in income in the last couple of years for three reasons. Firstly, the formation of Maker Heights Ltd means the trading income and expenditure was transferred to this company and for these accounts replaced with gift aid as well as additional site rental. Secondly, gift aid reduced in the year as Maker Heights Ltd invested over £40,000 in new men’s toilet facilities opened in time for the 2023 campsite

3

Treasurer’s Report (cont.)

season. The ladies’ facilities had been completed for the 2022 season. Gift aid in the future will depend on whether projects costs are taken by either Maker Heights Ltd or by the Rame Conservation Trust. Finally, grants received in prior years have been fully utilised in the year. An NHLF grant to assist with the “Vision for Grenville Battery” and a “Farming in Protected Landscapes” grant application have been approved but not yet spent. This will happen in the next financial year. EXPENDITURE

Overall expenditure continues to decline in line with income with much of the expenditure incurred in 2020/21 transferring to Maker Heights Ltd together with a significant reduction in grant spending. All of the major grants received for building improvements have now been completed.

Repairs and maintenance continue to be around the £50,000 mark annually. The refurbishment of the Sergeants End of the Barrack Block is well underway with traditional carpentry and lathe and plaster work

being undertaken prior to redecoration. Work on a planning application is also progressing on an extension to the car park together with improvements to the campsite access entrance and track. Initial work on the Barrack Block drainage problems has been completed with repairs made to some of the underground pipes.

Depreciation has reduced in the year, but this was a result of a one-off charge in 2021/22 relating to the change of use of the self-catering unit to new ladies’ toilets and showers to support the campsite.

4

Treasurer’s Report (cont.)

GRANTS

The “Monuments Matter to People” project was completed in the year and it has been extended into the ”Bee Mindful” project, which is ongoing. Some of the Rame Protection Group donation received last year was returned to support additional legal costs related to the original planning application at Rame Head. Grants and donations have been received for the “Vision for Grenville Battery” options appraisal and a grant under the “Farming in Protected Landscapes” scheme has been approved. Much of the costs will, however, be incurred in the next financial year.

KEY FINANCIAL INDICATORS

Income Expenditure	Income Expenditure	2019/20 244,000 -251,700	2019/20 244,000 -251,700	2020/21 282,100 -240,700	2020/21 282,100 -240,700	2021/22 162,100 -154,000	2021/22 162,100 -154,000	2022/23 62,200 -91,800
SURPLUS/DEFICIT		-7,700		41,400		8,100		-29,600
CASH BALANCE		76,100		102,700		82,400		76,200
ASSET VALUE		378,100		419,200		427,000		432,300

As noted above both income and expenditure have declined in the year resulting in a deficit of over £29,000. However overall cash has remained fairly stable as we are continuing to receive £15,000 per year from the 2017 land sale to Evolving Places.

The majority of the restricted cash balance has been allocated to the “Vision for Grenville Battery” options appraisal, which is designed to find a sustainable use for this fort. These monies will be spent in the next financial year.

The asset value for the trust has increased in the year despite the deficit as a revaluation of the Barrack Block took place in 2022 resulting in a £35,000 increase in the value of the Barrack Block. This is a consequence of the work that has gone into repairing and improving the Barrack Block over the last few years.

Signed:

Christopher Day - Treasurer

5

Report of the Trustees

Object of the charity

‘The object for which the Trust is established is to preserve for the benefit of the townspeople of the Borough of Rame in the County of Cornwall and of the nation at large, whatever of the historical, architectural and constructional heritage may exist in and around the Borough of Rame aforesaid in the form of buildings of particular beauty or historical, architectural or constructional interest.’

Public Benefit

The charity acknowledges its requirement to demonstrate that it has charitable aims and purposes that are for the public benefit and have regard for the guidance offered by the Charity Commission.

The trustees believe that the work of the charity in preserving the heritage of the specific location for those that live in that

location shows that the charitable aims are indeed for the benefit of the public and that the trustees have complied with Section 4 of the Charities Act 2011. Further, the reviews by the Chair and Treasurer demonstrate exactly how the trustees are complying with the Charity Commissioners guidance regarding public benefit.

Reserves Policy

The trustees have forecast the level of unrestricted reserves needed to sustain the charity’s operations over a period when its anticipated income generated from activities might be temporarily curtailed. The trustees consider the most appropriate level of the reserves at 31st March 2023 would be in the region of £22,000. This represents sufficient reserves to meet the costs of the charity for 3 months and would provide sufficient time to allow for an organised approach to the ongoing business of the charity. At 31st March 2023 the charity had reserves of approximately £432,000, however these are not liquid. The charity has unrestricted cash reserves of £49,491 at 31st March 2023.

The trustees seek to maintain a broad base of funding sources, including proceeds from rental, services, donations, membership and grant funding. By implementing effective cost control measures and ensuring the regular provision of management information and reporting, they aim to minimise financial risk to the charity in relation to its activities.

6

Report of the Trustees (cont.)

Responsibilities of the Board of Trustees

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

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. The financial statements are required by law to give a true and fair view of the charity’s financial position at the end of the year and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements the trustees are required to:

• Select suitable accounting policies and then apply them consistently

• Observe the methods and principles in the Charities SORP

• Make judgements and estimates that are reasonable and prudent

• State whether applicable UK 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 operation

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 and the Charity (Accounts and Reports) Regulations 2008. 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.

Approved by the Trustees on 27th September 2023 and signed on their behalf by:

Cathy Green Trustee

Lyn Reid Trustee

7

Independent Examiner’s Report on the Unaudited Financial Statements of The Rame Conservation Trust

This reports on the accounts of Rame Conservation Trust for the year ended 31st March 2023, which are set out on pages 13 to 22

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

Respective responsibilities of the Trustees and Examiner

The charity’s trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of financial statements. They consider that an audit is not required for this year under Section 144(2) the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for

independent examination, it is my responsibility to:

• Examine the accounts under section 145 of the 2011 Act

• To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act

• To state whether particular matters have come to my attention

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. That examination includes a review of the accounting records kept and a comparison of the accounts with those records. It also includes considering any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ and the report is limited to those matters set out in the statement below.

8

Independent Examiner’s Report on the Unaudited Financial Statements of The Rame Conservation Trust

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

1. Which gives us reasonable cause to believe that in any material respect the requirements

2. to keep accounting records in accordance with section 386 of the Companies Act 2006: and

3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

4. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Andrew Wing LLB FCA Wings, Chartered Accountants Unit 1, Pearl Assurance House Elbow Lane Tavistock Devon PL19 0BG

9

Statement of Financial Activities for the year ended 31 March 2023

		Unrestricted	Restricted	Total This	Total Last
	Notes	Funds	Income Funds	Year	Year
		£	£	£	£
Income and endowments from:
Donatons and subs etc.	4	6,590	6,112	12,702	64,289
Income from other trading actvites	4	36,000	-	36,000	37,300
Investment Income	4	120	-	120	8
Charitable actvites	4	-	-	-	-
Gif Aid	4	13,000	-	13,000	60,500
Proft on disposal of assets	4	360	-	360	-
Total		56,070	6,112	62,182	162,097
Expenditure on:
Charitable actvites	5	58,105	6,651	64,756	112,122
Other	5	27,041	-	27,041	42,196
Total resources expended		85,146	6,651	91,797	154,318
Net Income/(Expenditure)		(29,076)	(539)	(29,615)	7,779
Transfer between funds		(539)	539	-	-
Net incoming/(outgoing)		(29,615)	-	(29,615)	7,779
resources before other
recognised gains/(losses)
Other recognised gains/(losses)
Gains and losses on revaluaton of fxed asssets for the charites		-	-	-	-
own use
Transfer from Revaluaton		342	-	342	341
Reserve
Net movement in funds		(29,273)	-	(29,273)	8,120
Total funds brought forward		393,439	-	393,439	385,319
Total funds carried forward		364,166	-	364,166	393,439

The statement of financial activities includes all gains and losses in the year.

All income and expenditure derive from continuing activities.

10

Balance Sheet as at 31 March 2023

		Unrestricted	Restricted
		Funds	Income Funds	Total This	Total Last Year
				Year
		£	£	£	£
Fixed Assets:
Tangible Assets	6	335,909	-	335,909	314,583
Current Assets:
Debtors	7	53,782	-	53,782	62,126
Investments	8	2	-	2	2
Cash at bank and in hand		49,491	26,721	76,212	82,353
Total Current Assets		103,275	26,721	129,996	144,479
Creditors: Amounts falling	9	(6,847)	(26,721)	(33,568)	(32,111)
due within one year
Net current assets/		96,428	-	96,428	112,368
(liabilites)
Total assets less current		432,337	-	432,337	426,951
liabilites
Net Assets		432,337	-	432,337	426,951
Funds of the charity
Revaluaton Reserve	10	68,171	-	68,171	33,513
Unrestricted funds	11	364,166	-	364,166	385,439
Total funds		432,337	-	432,337	426,952

In approving these financial statements as trustees of the company we hereby confirm:

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for:

1. ensuring that the company keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006 and

2. preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for the financial year in accordance with the requirements of sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts so far as applicable to the company.

These financial statements have been prepared in accordance with the Special Provisions of Part 15 of the Companies Act 2006 relating to small companies.

These financial statements were approved by the Trustees on 22nd August 2023 and signed on its behalf by:

Ursula Stevenson, Trustee Lyn Reid, Trustee

11

Notes to the Accounts for the year ended 31 March 2023

1 Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Rame Conservation Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2 Reconciliation with previous Generally Accepted Accounting Practice

In preparing the accounts, the trustees have considered whether in applying the accounting policies of FRS102 and the Charities SORP FRS102 the restatement of comparative item was required.

At the date of transition, no restatements were required.

1.3 Preparation of the accounts on a going concern basis.

The Trust is clear of debt at the end of the financial year but still has significant commitment to maintain and secure the remaining assets under its control which will depend on the continued support of the community and the Trusts partners and supporters.

1.4 Fund Accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charities work for specific projects undertaken by the charity.

1.5 Income

Recognition of income These are included in the Statement of Financial Activities (SoFA) when:

• the trustees are virtually certain they will receive the resources; and

• • the monetary value can be measured with sufficient reliability.

Incoming resources with Where incoming resources have related expenditure (as with related expenditure fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.

12

Notes to the Accounts for the year ended 31 March 2023 (cont.)

1 Accounting Policies (cont.)

1.5 Income (cont.)

Grants and donations

Tax reclaims on donations and gifts

Contractual income and performance related grants Gifts in kind

Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.

Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.

This is only included in the SoFA once the related goods or services have been delivered.

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised.

Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity.

Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable.

Donated services and facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Volunteer help

Investment income

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

This is included in the accounts when receivable.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

1.6 Expenditure

Liability Recognition

Governance Costs

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

13

Notes to the Accounts for the year ended 31 March 2023 (cont.)

1 Accounting Policies (cont.)

1.6 Expenditure (cont.)

Grants with performance conditions

Grants payable without performance conditions

Support Costs

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.

• These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity.

• Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

1.7 Assets

• Depreciation

Depreciation has been provided at the following rates in order to write off the

• Plant and Machinery 20% straight line Fixtures and fittings 10% straight line Freehold property over 50 years Leasehold land and buildings over period of lease

Revaluation of Properties

• Individual freehold and leasehold properties, other than investment properties, are revalued every five years with the surplus or deficit on book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over depreciated cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. A deficit which represents a clear consumption of economic benefits is charged to the profit and loss account regardless of any previous surplus.

When depreciation charges are increased following a revaluation, an amount equal to the increase is transferred annually from the revaluation to the profit and loss account as a movement on reserves. On the disposal of a revalued fixed asset, any related balance remaining in the revaluation reserve is also transferred to the profit and loss as a movement on reserves.

14

Notes to the Accounts for the year ended 31 March 2023 (cont.)

1 Accounting Policies (cont.)

1.8 Cash at Bank and In Hand

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

1.9 Creditors and Provisions

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

1.10 Legal Status of the Charity

The charity is a Limited Company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

	2023	2022
	£	£
2 Surplus for the year
This is stated afer charging:
Depreciaton of leasehold assets	4,971	3,430
Depreciaton of owned fxed assets	13,187	28,416
Independent Examiners Fees	750	750
	18,908	32,596
3 Interest Payable
Bank Interest	-	-
Loan Interest	-	-
	-	-

15

Notes to the Accounts for the year ended 31 March 2023 (cont.)

			2023	2022
			£	£
4	Analysis of Income
	Voluntary Income	Donatons and Sponsorships	1,630	4,843
		Gif Aid Reclaimed	1,860	-
		Membership Fees	3,100	5,260
		Restricted grants	6,112	54,186
			12,702	64,289
	Income from other trading actvites	Camping, events and fundraising actvites	36,000	37,300
			36,000	37,300
	Investment Income	Bank Interest	120	8
			120	8
	Charitable Actvites	Barrack Block Rental	-	-
		Nissen Huts Rental	-	-
		Self Catering	-	-
			-	-
	Gif Aid from Subsidiary	Gif Aid from Trading Subsidiary	13,000	60,500
			13,000	60,500
	Disposal of fxed assets	Proft on disposal of fxed assets	360	-
			360	-
5	Analysis of Expenditure
	Charitable Actvites	Repairs, maintenance, site &	18,209	41,749
		rental costs
		Renovaton projects	27,048	-
		Repair and Maintenance BA	3,908	8,230
		Water	189	47
		Insurance - current year charge	2,749	2,846
		Light and Heat - Net	341	(288)
		Telephone and Fax	714	647
		Toilet Hire	1,308	1,159
		Caretaker	3,639	1,853
		Restricted grant expenditure	6,651	55,879
			64,756	112,122

16

Notes to the Accounts for the year ended 31 March 2023 (cont.)

				2023	2022
				£	£
5 Analysis of Expenditure	(cont.)
Other Expenditure	Advertsing and Publicity			1,289	1,834
	Rent			1,867	1,867
	Rates			1,421	725
	Administraton Expenses			1,448	1,478
	Subscriptons			20	50
	Trustee Expenses			364	23
	Accountancy Fees			750	750
	Bank Charges & Paypal fees			110	163
	Legal & Professional			1,614	3,119
	Depreciaton			18,158	32,187
				27,041	42,196
6 Tangible Fixed Assets
		Freehold Land	Leasehold Land	Fixtures and	Total
		and Buildings	and Buildings	Fitngs
		£	£	£	£
Cost/Revaluaton
As at 1st April 2021		175,000	201,079	134,645	510,724
Additons		-	6,204	1,920	8,124
Disposals		-	-	4,200	4,200
Revaluaton		35,000	-	-	35,000
As at 31st March 2022		210,000	207,283	132,365	549,648
Depreciaton
As at 1st April 2021		57,500	81,250	57,391	196,141
Adjustment on revaluaton		342	-	-	342
Disposals		-	-	560	560
Charge for the Year		2,158	4,971	10,687	17,816
As at 31st March 2022		60,000	86,221	67,518	213,739
Net Book Value
31st March 2022		150,000	121,062	64,847	335,909
31st March 2021		117,500	119,829	77,254	314,583

Freehold Land at cost included above not depreciated £50,000

17

Notes to the Accounts for the year ended 31 March 2023 (cont.)

6 Tangible Fixed Assets (cont.)

Revaluation of Freehold Property

The freehold property owned by the Trust was subject to independent valuation in the year ended 31st March 2023.

The details of the valuation are:-

Valuer: Nick Holman FRICS – Vickery Holman Chartered Surveyors Date of Valuation: Full valuation – 28th October 2022 Basis of valuation: Market Value Valuation: £210,000

Date of Previous Valuation: December 2019

		2023	2022
		£	£
7	Debtors
	Debtors	2,051	400
	Prepayments	8,265	7,010
	Gif Aid due from trading subsidiary	13,000	10,500
	Deferred Consideraton	30,466	44,216
		53,782	62,126

Of the total debtors figure, deferred consideration of £30,466 (2022: £44,216) is due to be received after one year.

8 Investments

Investment in wholly owned subsidiary	2	2
	2	2
9 Creditors: amounts falling due within one year
Restricted grant monies held	26,721	20,683
Accruals	1,887	8,890
Other creditors - unrestricted	4,960	2,537
	33,568	32,110
10 Revaluaton Reserve
As at 1 April 2022	33,513	33,854
Arising on revaluaton during the year	(342)	(341)
Revalutaion of Freehold buildings in the year	35,000	-
At 31st March 2023	68,171	33,513

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Notes to the Accounts

for the year ended 31 March 2023 (cont.)

11 Movement of Major Funds

	Fund				Prior year	Fund
	balances			Transfer	adjustment	balances
Fund Names	brought forward	Income	Expenditure	between funds	on revaluaton	carried forward
	£	£	£		£	£
Restricted Funds	-	6,112	(6,651)	539	-	-
Unrestricted Funds
General Reserve	393,439	56,070	(85,146)	(539)	342	364,166
Total Funds	393,439	62,182	(91,797)	-	342	364,166

12 Payments to Trustees

There were no payments to Trustees in the year other than reimbursed expenses.

13 Other Matters relating to Trustees

There were no other matters arising that have not already been disclosed.

Maker Heights Limited - Review of 2022/23

2022/23 was Maker Heights Limited’s (MHL) second year of operation as the Trust’s trading subsidiary. MHL is responsible for all income-generating activities on site, including running Maker Camp, a low-key campsite which is managed for nature, renting studios at the Barrack Block and workspaces at the Nissen Huts, as well as organising events and activities. Income generated by Maker Camp was £136,300, exceeding the previous year by 11%. Renovations to the women’s campsite facilities in 2022 were well received by campers. Work also began on renovations to the men’s shower and toilet facilities in the first quarter of 2023 ready for the start of the next campsite season, with a £40,500 investment earmarked for these works.

These upgrades resulted in many positive comments from campers on Trip Advisor. We’re proud to report that the campsite has retained its 4.5 star Trip Advisor rating for several years in a row.

In the Lower Field, MHL hosted WilderMe, a not-for-profit social enterprise offering wellbeing and adventure holidays for autistic adults and children and their families. We’re delighted to support and enable organisations that offer such incredible social value.

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Maker Heights Limited - Review of 2022/23 (cont.)

Over the year we welcomed 700 visitors to our one-night stay pitches which are reserved for walkers. We’re a proud member of the South West Coast Path’s Way Maker Scheme, which supports walkers traversing Britain’s longest trail.

Income from studio rentals was £43,700, with all workspaces fully occupied and a healthy wait list for rooms. The site currently hosts over 30 social and other enterprises and generates employment for over 80 local people. Over time, the site has become an important economic hub in an area that suffers from a variety of socio-economic challenges, including young people leaving the area due to lack of training and employment opportunities.

In the last quarter of 2022/23, MHL managed the preparations for a year-long celebration of the centenary of Maker Camp 1923-2023. This included: working with an events co-ordinator and graphic designer to pull together and publicise information on site-wide activities and events throughout the centenary year; commissioning a short film to celebrate the centenary; and organising a centenary celebration event.

A summary of the financial results are as follows:

Revenue Expenditure	Maker Camp income Self-catering income Rental income	Maker Camp income Self-catering income Rental income	2022/23 £ 2021/22 £ 136,300 0 43,700 123,100 10,600 43,100	2022/23 £ 2021/22 £ 136,300 0 43,700 123,100 10,600 43,100
	Total Revenue		180,000	176,900
	Utlites and insurance Maker Camp Team Self-catering expenses Communicatons and IT Maker Camp expenses Waste collecton Administraton Site rental to RCT Men’s Toilet Refurbishment Gif aid to RCT		(15,100) (32,200) (0) (5,100) (19,100) (5,500) (13,500) (36,000) (40,500) (13,000) (8,900) (25,600) (8,000) (4,600) (16,300) (8,100) (8,700) (36,000) (0) (60,500)
	Total Expenditure		(180,000)	(176,800)
	PROFIT		0	100

In 2022/23 MHL’s directors were: Mike Whittingham, chair (resigned February 2023), Cathy Green, Julian Gray, Dick Ogilvie (resigned April 2022), Wendy Ferguson (joined May 2022) and Fleur Young (joined June 2022).

20

Our Partners

We would like to take this opportunity to give a big THANK YOU to …

• Maker Campers - all income goes to conserving Maker Heights

• Our tenants who welcome so many people to Maker

• All the Trust’s members and volunteers

• And partner oganisations:

Maker Memories Project

Cornwall Area of Outstanding Natural Beauty Cornwall Council Historic England

Maker with Rame Parish Council Millbrook Parish Council Mount Edgcumbe Estate Clarrick and Pigshill Woods CIC

South West Coast Path Association

… and to everyone who supports Maker Heights