RAME CONSERVATION TRUST (Private Company Limited by Guarantee) Annual Report and Financial Statements for the year ended 31st March 2025 Company Number: 3440492 Registered Charity Number: 1066389
Rame Conservation Trust Company Information Trustees Ursula Stevenson - Chair Caroline Vulliamy - resigned 25t February 2025 Secretary Treasurer Independent Examiner Bankers Registered Office Registered No. Registered Charity No. Chris Day Chris Day Andrew Wing LLB FCA Wings Accountants Ltd Unit 1, Pearl Assurance House Elbow lane Tavistock Devon PL19 OBG Lloyds TSB Derrys Cross Plymouth Devon The Nissen Huts Maker Heights Cornwall PL10 1LA 3440492 (England and Wales) 1066389
Rame Conservation Trust 31/03/2025 Contents Chairpersons Report Treasurers Report Trustees Report Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Page 1 - 2 8-9 10 11 12 - 19
Rame Conservation Trust Chairperson's Annual Report 1st April 2024 to 31st March 2025 We have had another eventful year - an incredible amount of energy and creativity has been put into our heritage and community enterprises at Maker Heights. The Maker Heights Creative Enterprise Hub was an 18 month project completed in March 2025 with £477,222 from the Cornwall and Isles of Scilly Good Growth Fund. The funding provided the RCT the opportunity to provide sustainable growth at Maker Heights through both improving the infrastructure for visitors and tenant businesses and developing the creative and community- focused activities on site. Key areas of project activity were: • Transport & Access Measures: Disabled toilet and shower facilities opened in April 2024. Disabled paths around the Nissen huts were created and a review of disability access issues for the site was commissioned from the Disability Enabling Network which made a number of recommendations for future implementation. • Energy Efficiency for Barrack Block: Loft insulation, vaulted ceilings insulation and secondary glazing has been completed throughout the building. Thermal plastering work has been carried out in suitable rooms with outside facing walls, leaving the studios in the Barrack Block noticeably warmer. an upgraded powerline that will enable future renewables at Maker Heights. • Digital Hub: Starlink was installed in the Nissen huts and Barrack Block locations, delivering high speed access to 22 studios in the Barrack Block and three businesses at the Nissen Huts. It is approximately 20-30 times faster than previous internet speeds. A new consolidated website for Maker Heights was launched in July 2024. Business support: 47 tenants and some of the RCT trustees have taken part in 6 training sessions over the project period, covering First Aid, Mental Health First Aid, Safeguarding and Fundraising. Ten internships were successfully delivered, offering young people on the Peninsula valuable work experience. Our Creative Hub Coordinator worked one-to-one with our tenants, providing advice, support and networking opportunities. • Events: There were five major event programmes, including 40 separate events designed to develop wider audiences. These included support with community theatre workshops and the wonderful Maker Panto, Open Studios and an Artisan Market, an enhanced Heritage Open Days programme and a new event, the Elevation Film Festival. Outside the funded project, after obtaining the relevant consents, the RCT also upgraded the site car-park, which will enable better access to the campsite and more parking spaces overall. We have installed an 'honesty box' which we hope will generate some income to help us maintain it. 1
Rame Conservation Trust Chairperson's Annual Report 1st April 2024 to 31st March 2025 cont'd Following the acquisition of the Millbrook Chapel of Rest from the Friends group the previous year, we have set up a Working Group made up of Trustees and volunteers. We first undertook some essential repairs as well as a community consultation in April 2024. It was well attended and the enthusiasm and ideas for future community uses that were generated, will help us with future applications. Over the summer a number of events and artists exhibitions were held, enabling people to enjoy this reflective space. The Trusts Redoubts Working Group (RVG) continues to make progress in the understanding conservation and management of the historical structures at Maker Heights. Working with Cornwall National Landscape's Monumental Improvement Project in 2024, sponsorship was achieved from the National Lottery Heritage Fund, supported by Cornwall Council, the National Trust, Historic England and the Cornwall Heritage Trust, to create new Interpretation Boards and a Rame walkers map for each of the 5 Redoubts at Maker. In 2025 sponsorship was awarded by the Fortress Study Group for a new Interpretation Board for the newly scheduled Heavy Anti-aircraft Battery close to the Barracks. Public interest in these defensive structures at Maker continues with over 150 people joining guided history tours of the Redoubts in 2024. The Trust would once again like to extend its thanks to all the volunteers involved in the RWG for their time, energy and expertise in looking after these challenging, rare examples of the military history on the Heights. Maker Heights Limited (MHL) continue to run our commercial activities, including the campsite and management of licenses. MHL Directors and Executive Manager have covered everything from essential site-wide infrastructure and vegetation management to support biodiversity, to fresh ideas for supporting our community and attracting different audiences. Many of the tenants volunteer their time to support projects and events, so a big thanks for all their help and energy. I would like to thank all our stakeholders, volunteers and members for continuing to make Maker Heights such a special place. I would particularly like to thank the Mount Edgcumbe Estate for their vital support with conservation projects on their land. event Signed:... Ursula Stevenson - Chair Dated
Rame Conservation Trust Treasurer's Annual Report 1st April 2024 to 31st March 2025 The Rame Conservation Trust receives income from a variety of sources. Our subsidiary, Maker leights Ltd gift-aids 100% of their profit to the Trust and, in addition pays rent for the central site a Maker Heights. We also apply for grants to assist with the repairs and development of the freehol and leasehold properties for which we are responsible. This grant income is classified as restricted funds as it can only be used for the specific agreed purpose. The Trust was able to deliver significant improvements and give support to tenant businesses during the year as a result of a large grant from the Good Growth Fund as well as investing ou internal resources to improve the site facilities and buildings. Overall the year has delivered nearly £500,000 of spend across the site. Unrestricted Income and Expenditure 2022/23 2023/24 2024/25 Income Rental Income Gift Aid received Other Income Total Expenditure Repairs and maintenance Projects Depreciation Site Running Costs Total Deficit 36,000 13,000 7,200 56,200 36,000 36,100 5,100 77,200 48,000 9,800 57,800 22,200 27,000 17,800 18,100 85,100 -28,900 21,500 33,600 17,600 20,400 93,100 -15,900 17,000 53,400 18,500 22,500 111,400 -53,600 The rent charged to Maker Heights Ltd. was increased to f4,000 per month at the start of the year ensuring a regular monthly income to the Trust for its day-to-day expenses. Although no gift-aid was received from Maker Heights Ltd during the year the company did take on the major part of the cost of improvements to the car park as well as taking over the routine costs for caretaking toilet hire, communications and fire systems. 3
Rame Conservation Trust Treasurer's Annual Report 1st April 2024 to 31st March 2025 cont'd Despite inflationary pressures, the day to day expenditure required to maintain the site remained stable, coming in slightly lower than the previous year. Our internal funds supported a number of maintenance projects. Those undertaken during the year totalled over £60,000: • The majority of the Barrack Windows were painted, with the exception of some of the upper windows, which will require scaffolding £13,800 • The Nissen Hut roofs were painted and the last of the windows were replaced £6,300 • Tree clearance continued at redoubt 5 to help to stabilise the structure £4,200 • An office was created within the visitor centre to enable use during the winter period €3,200 • Further work was needed to keep the sewage treatment plant operational £4,700 • Significant improvements have been made to the car park and surrounds (around £13,000 was paid by Maker Heights Ltd.) £25,000 • A full electrical certification of the site was carried out together with the recommended improvements £4,400 • The Chapel of Rest was painted and the guttering and roof was repaired. This was partially paid by donations and grants but the Trust covered the additional cost £3,000 Restricted Funds There was a small amount of grant received to assist with the renovation of the Chapel of Rest but the majority of restricted fund spend related to the Good Growth Fund grant for the creation of the Maker Heights Creative Enterprise Hub as well as capital works for improving energy efficiency, installing a new incoming power line and investing in renewables. A total of £417,300 was spent, which included €12,500 match funded by the Trust. The main elements were: • New incoming power line, which allows our supply to be split from Evolving Places Ltd (our neighbour on the site) and provides the ability to export power to the grid £74,800 • Installation of oak frame and solar panels, which will produce electricity for use on site and export to the grid £78,400 • Improve the thermal efficiency of the Barrack Block by secondary glazing, roof and loft insulation and thermal plastering to allow the buildings use throughout the winter period £124,100 Cost of staff to support the delivery of the Creative Hub £35,800 • Completion of the disabled facilities £800 • Creation of disabled paths around the site and fund a report into accessibility options for the site £14,900 • Rebranding, website creation, social media support and creation of the digital hub €33,500 Supporting tenant businesses with internships, training and mentoring f25,200 • Support of events including the Pantomime, Film Festival etc and the creation of tenant films £23,600 • Cost of External Assessment €6,200 4
Rame Conservation Trust Treasurer's Annual Report 1st April 2024 to 31st March 2025 cont'd Summary The maintenance projects we have undertaken have been paid for from our own resources with most of the grant expenditure, with the exception of €12,500 match funding, covered by grant income. Although the deficit is in excess of £65,000, the site has benefited by spend of over €500,000 in the year. Income Expenditure Surplus/Deficit Cash Balances Free Cash Charity Reserves Match Funding Reserve Restricted Funds Total Cash 2021/22 162,100 (154,000) 8,100 2022/23 62,200 (91,800) (29,600) 2023/24 196,900 (223,000) (33,100) 2024/25 467,800 (534,500) (66,700) 19,700 22,000 20,000 20,700 82,400 Asset Value 427,000 7,500 22,000 20,000 26,700 76,200 432,300 17,200 22,000 12,500 21,000 72,700 399,300 11,700 22,000 0 3,200 36,900 332,600 This year was also the final year for receipt of deferred revenue from Evolving Places Ltd. When the property sale occurred in 2015, part of the consideration totalling €150,000 was due to be paid over a 10 year period. These payments have now been fully received. It does, however, mean we lose going forward £15,000 of incoming cash each year. The Barrack Block is owned freehold by the Trust and, when the next routine valuation occurs, it is hoped the investment in the thermal efficiencies of the building will result in an increase in asset value to compensate in part for this year's deficit. Signed..... Chris Day Treasurer Date: 21% July 2025
Rame Conservation Trust Report of the Trustees for the year ended 31st March 2025 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 aroun the Borough of Rame aforesaid in the form of buildings of particular beauty or historica 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 has 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 2025 would be in the region of £22,000. This represents sufficient reserves to meet the core 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 2025 the charity had reserves of approximately £333,000, however these are not liquid. The charity has unrestricted cash reserves of £33,690 at 31st March 2025. 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. 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. 6
Rame Conservation Trust Report of the Trustees for the year ended 31st March 2025 cont'd 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 the 21s* July 2025 and signed on their behalf by: Sled Lyn Reid Trustee
Rame Conservation Trust 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 2025, 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 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. 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 • to keep accounting records in accordance with section 386 of the Companies Act 2006: and • to prepare accounts which accord with the accounting records, comply with the accountin equirements of section 396 of the Companies Act 2006 and with the methods an principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met, or 8
Rame Conservation Trust INDEPENDENT EXAMINER'S REPORT ON THE UNAUDITED FINANCIAL STATEMENTS OF THE RAME CONSERVATION TRUST (cont'd) 2. 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 Dated 21st July 2025
Rame Conservation Trust Statement of Financial Activities for the year ended 31 March 2025 Restricted Unrestricted Notes funds income funds Total this year € Income and endowments from: Donations and subs etc. Income from other trading activities Investment Income Charitable Activities Gift Aid Profit on disposal of assets Total Expenditure on: Charitable activities Other Total resources expended Net Income/ (Expenditure) Transfer between funds Net incoming/(outgoing) resources before other recognised gains/(losses) Other recognised gains/(losses) ains and losses on revaluatio f fixed assets for the charity' own use Transfer from Revaluation Reserve Net movement in funds Total funds brought forward Total funds carried forward 4 4 4 4 4 4 5 5 8,140 48,000 1,626 57,766 76,227 35,131 111,358 (53,592) (13,030) (66,622) - 1,041 (65,581) 332.152 266,571 410,065 : 410,065 423,095 423,095 (13,030) 13,030 - - - - - The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities. 418,205 48,000 1,626 : 467,831 499,322 35,131 534,453 (66,622) - (66,622) - 1,041 (65,581) 332,152 266,571 Total last year € 124,150 36,000 679 36,086 196,915 199,086 30,884 229,970 (33,055) (33,055) 1,041 (32,014) 364,166 332,152 10
Rame Conservation Trust Balance Sheet as at 31 March 2025 Restricted Unrestricted funds income funds Notes Fixed Assets: Tangible Assets Current Assets: Debtors Investments Cash at bank and in hand Total Current Assets Creditors: Amounts falling due within one year Net current assets/ (liabilities) Total assets less current liabilities Net Assets Funds of the charity Revaluation reserve Unrestricted funds Total funds 6 7 8 9 10 298,717 33,217 2 33,690 66,909 (32,966) 33,943 332,660 332,660 66,089 266,571 332,660 Total this year Total last year - 3,207 3,207 (3,207) : 298,717 33,217 2 36,897 70,116 (36,173) 33,943 332,660 332,660 66,089 266,571 332,660 317,262 40,959 2 72,761 113,722 (31,702) 82,020 399,282 399,282 67,130 332,152 399,282 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 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 finandial statements were approved by the Trustees on 23J vLy. 2025 and signed on its behalf by:
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 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 France Repong Enter peas in and Rapin ran 2 are ne 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 notes). 1.2 Reconciliation with previous Generally Accepted Accounting Practice in preparing the accounts, 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 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 ecided at their discretion to set aside to use for a specific purpose. Restricted funds ar onations which the donor has specified are to be solely used for particular areas of th Charities work for specific projects undertaken by the charity. 1.5 Income Recognition of income Incoming resources with related expenditure Grants and donations Tax reclaims on donations and gifts These are included in the Statement of Financial Activities (SoFA) when: - the trustees are virtually certain they will receive th resources; ano - the monetary value can be measured with sufficient Where incoming resources have related expenditure (as with fundraising or contract income the incoming resources and related expenditure are reported gross in the SoFA. rants and donations are only included in the SoFA when t larity has unconditional entitlement to the resourc Incoming resources from tax reclaims are included in the SoFf at the same time as the gift to which they relate 12
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) Accounting policies (cont.) 1.5 Income (cont.) Contractual income and This is only included in the SoFA once the related goods or performance related grants services have been delivered. Gifts in kind 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 charit Gifts in kind for use by the charity are included in the SoFA a Donated services and facilities Volunteer help Investment income Investment gains and losses 1.6 Expenditure Liability Recognition These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit t the charity is reasonably quantifiable, measurable and material The value placed on these resources is the estimated value t the charity of the service or facility received 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. 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. Governance Costs Grants with performance conditions Grants payable without performance conditions Support Costs 1.7 Assets Depreciation 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. 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 othe costs by their usage 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
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) Accounting policies (cont.) 1.7 Assets (cont.) Revaluation of Properties Individual freehold and leasehold properties, other than investment properties, are revalued every five years with the revaluation reserve, except that a deficit which is in excess of depreciated cost charged to the profit and loss account regardless of an revious surplus 127A3 1.8 Cash at Bank and In Hand cash at bany and cash in has or eludes case and sort dum honor opid investment it a 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 rovisions are normally recognised at their settlement amount after allowing for any trad liscounts du 1.10 Legal Status of the Charity member of the charity. 2 Surplus for year This is stated after charging: Depreciation of leasehold assets Depreciation of owned fixed assets Independent Examiners Fees 3 Interest Payable Bank Interest Loan Interest 2025 € 2024 4,971 13,574 900 19,445 - - 4,971 13,676 900 19,547 - 14
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) 2025 4 Analysis of income Voluntary Income Donations and Sponsorships Gift Aid Reclaimed Membership Fees Restricted grants Other revenue Income from other trading activities Camping, events, allotments and fundraising activities Investment Income Bank Interest 3,587 1,010 1,860 410,065 1,683 418,205 48,000 48,000 1,626 1,626 Gift Aid from Subsidiary Gift Aid from trading subsidiary 2024 € 676 - 3,695 119,779 124,150 36.000 36,000 679 679 36,086 36,086 15
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) 2025 2024 € 5 Analysis of expenditure Charitable Activities Repairs, maintenance, site & rental costs Renovation projects Repair and Maintenance BA Water Insurance - current year charge Management fee Telephone and Fax Toilet Hire Caretaker Restricted grant expenditure 13,709 53,377 3,267 2,874 3,000 Other Expenditure Advertising and Publicity Rent Rates Administration Expenses Subscriptions Trustee Expenses Accountancy Fees Bank Charges & Paypal fees Legal & Professional Depreciation 423,095 499,322 9 6,650 842 1,823 547 667 900 67 5,081 18,545 35,131 18,399 33,586 3,097 (872) 2,837 - 714 1,311 4,125 135,889 199,086 1,134 5,150 818 1,308 234 341 900 112 2,240 18,647 30,884 16
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) 6 Tangible Fixed Assets Freehold Land and Buildings € 210,000 Leasehold Land and Buildings Fixtures and Fittings Total Cost/Revaluation As at 1st April 2024 Additions Disposals Revaluation As at 31st March 2025 207,283 - 210,000 207,283 Depreciation As at 1st April 2024 Adjustment on revaluation Disposals Charge for the Year As at 31st March 2025 63,200 - 3,200 66,400 91,192 - 4971 96,163 132,365 132,365 77,994 10,374 88,368 Net Book Value 31st March 2025 31st March 2024 143,600 146,800 Freehold Land at cost included above not depreciated 111,120 116,091 £50,000 43,997 54,371 Revaluation of Freehold Property The freehold property owned by the Trust will be subject to independent valuation in the year ended 31st March 2028 in accordance with the five-year cycle of valuation The details of the valuation are:- Valuer: Nick Holman FRICS - Vickery Holman Chartered Surveyors Date of Valuation Basis of valuation Valuation Date of Previous Valuation Full valuation - 28th October 2022 Market Value £210,000 December 2019 549,648 - - 549,648 232,386 - 18,545 250,931 298,717 317,362 17
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) 2025 € 7 Debtors 2024 € Debtors Prepayments Grant monies due Gift Aid due from trading subsidiary Deferred Consideration 400 8,956 23,861 5,915 8,512 33,217 11,066 15,466 40,959 Of the total debtors figure, deferred consideration of £15,466 (2023: £30,466) 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 Advanced campsite bookings Accruals Other creditors - unrestricted Other creditors - restricted EP creditor Maker Heights Ltd creditor 3,207 1,000 31,966 21,020 1,000 9,682 36,173 31,702 10 Revaluation Reserve As at 1 April 2023 Arising on revaluation during the year Transferred to General Reserve re prior year depreciation At 31st March 2024 67,130 (1,041) - 66,089 68,171 (1,041) - 67,130 18
Rame Conservation Trust Notes to the Accounts for the Year Ended 31 March 2025 (cont.) 11 Movement of Major Funds Fund balances Fund Names brough orwar Income Expenditure Restricted Funds Unrestricted Funds General Reserve Total Funds - 410,065 (423,095) 332,152 332,152 57,766 467,831 (111,358) (534,453) Transfer between funds Prior year adjustment on revaluation € 13,030 - (13,030) - 1,041 1,041 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. Fund balances carried forward € - 266,571 266,571 19