##
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##
||||||Page|
|---|---|---|---|---|---|
|Reference and administrative||details|ofthe Company,|its Trustees and advisers||
|Trustees'
report|||||2-18|
|Independent|auditors'
report|on the|financial statements||19-22|
|Consolidated|statement
offinancial||activities|||
|Consolidated|balance sheet||||24-25|
|Company
balance sheet|||||26-27|
|Consolidated|statement
ofcash flows||||28|
|Notes to the|financial statements||||29-56|
|Trustees|||PJ Faulkner|PJ Faulkner|||||
|---|---|---|---|---|---|---|---|---|
||||Ms DJ Hassall||||||
||||G Johnston||||||
||||RWallace||||||
||||J C Thelwall||||||
||||RJ Calvert|OBE|||||
||||R G Ellis||||||
||||Cllr S Clark|(appointed|||30 May 2023)||
||||CSAustin||||||
||||SWilliams|(resigned 31 March 2023)|||||
||||S I G Dixon|(resigned||4|May|2023)|
|Company|registered||||||||
|number|||03462405||||||
|Charity registered|||||||||
|number|||1069229||||||
|Registered||office|The Forest|Centre, Martson||||Moretaine|
||||Bedford||||||
||||MK43 OPR||||||
|Company|secretary||J Russell and||G Sorrell||||
|Chief executive officer|||J Russell and||G Sorrell||||
|Independent||auditors|Hillier Hopkins||LLP||||
||||Chartered
Accountants||||||
||||Statutory Auditor||||||
||||249 Silbury|Boulevard|||||
||||Milton Keynes||||||
||||MK9 1NA||||||
|Bankers|||National Westminster|||Bank||pic|
||||National Westminster|||House|||
||||Trinity Gardens||||||
||||9-11 Bromham||Road||||
||||Bedford||||||
||||MK40 2UQ||||||
|Solicitors|||Woodfines|LLP|||||
||||6 Bedford Road||||||
||||Sandy||||||
||||Beds||||||
||||SG191EN||||||
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|Fund||||Purpose offund||||Objective||||Risk|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||C'ash
buffer
reseNe|||for||||||||
|||||emergencies.|||||||'||||
|General|Purpo.se|||||||Maximise|income & capital value|||Lower-medium||risk|
|||||Ongoing
income
meets|day||to||||||||
|||||day expenses.|||||||||||
|Capital Projects
*,,|||.|'
'
.
,
Capital
expenditure,
p'lans
next t;5 years|for||the,|'Match time,hoii2on||of1-5y'ears||Lower-, medium,||risk|
||||||||||I||||||
|||||Meeting
the
co's'ts
.:i'nc'urred|||iri|Maintain|an'd
giow|the capital
value|||||
|Specific
(restricted|Use'~
'
'
funds)|||establishing
woodland's,
and
maintaining
them
.for"25,years||||of these
restricted
annual
requireme'nt||'funds.
560,000
'from
year
3||,Medium|risk-||
|||||from inception
.||||onwards|||||||
|Woodland
Endowment
(designated, fur'id)||||To
previde
an
incom'e
to
mairitain
weodlands',
aRer
expiration
of the
initial
25
establishment
period:::||help
the
year
'
'||To
maintain"
'a'nd
grow
the 'capital'
value
of
this
'long-'term
fund
to
achieve a capital
value of F1,million
over ten years'(20~28)||||**M**~,.„'
edium|risk||
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##
||||||Long-term|Long-term|Long-term|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Investment|||||asset||||Ranges||Benchmark|indices||||||||
||||||allocation (%)|||||||||||||||
|F.ixed income,|,||||;|'17.5||.|10'.-'30|||||||||||
|UK government||bonds|||||12.0||||FTSEActuaries
All Stock Gilts|||||||||
|UK coiporate.|'bonds||||||5.5||||"ICEBofA ML||Sterling. 'Corpor'ate||aonds|||||
|Total equities
LIK|||||||70.0
50 - 75
30.0:
' '::,; '::;: .||||'FlSE,All 6ham|||||||||
|||||||||||I' \|||1|||||||
|Overseas|||||||40.0||||FTSE All World ex UK|||||||||
|Alternatives
...,,|||||||0 0||20||50% FTSE Actuar'ies
UK Conventional
u'p to five years. / 50%'FTSE All Share||||||Giits|||
|Cash|||||||2.5||0-15||UK interbank||1 week|||||||
|' We have determined|||to|use a||composite||of50% IBoxx F. Gilt 1-5years and|||||50% MSCI AC World index|||(ACWI) for this portion|||as we are|
|allocating
to alternatives||||which||we|believe
have the|||characteristics
of equity|||like returns
and|bond|like|volatility||snd therefore|this most|
|closely represents|the stthbutes|||||ofthe underlying|||vehicles|||||||||||
|Performance|of|the overall||||porffolio
will|||be|monitored
against||its target ofCPI||inflation||plus 3.5% p.a. net|||offees,|
|the composite|of market indices (as shown|||||||||above) and the ARC Steady Growth
Charities
corn|||||||Index.|||
|General Purpose|||and||Capital Projects Funds:|||||||||||||||
|Investment||||||||Long term
allocation||asset
Ranges|||Benchmark
indices|||||||
|||||||||(%)|||0/|||||||||
|Fixedinterest.|' '.|||||||35|||15&5|||||||||
|UK government|bonds|||||||25|||||iBoxx2 UK Gilts|1-10||||||
|UK corporate bonds||||||||10.0|||||iBoxxSter'ling
Non Gilt|||||||
|Tota Iequities||||||||40||||||||||||
|UK||||||||25|||Min 15||MSCI UK Large
panies|8|Medium||sized|||
|Overseas||||||||15|||Min 5||MSCI AC World|ex UK||||||
|Alternatives
(including|||||'property)|||20|||0-36||Custom
alternatives||benchmark'|||||
|Cash||||||||5.0|||0-20||Bank of England|Base Rate||||||
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##
|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
||||Note|2023f|2023f|2023
E|2022|
|Income from:||||||||
|Donations
and legacies||||590,916|1,000|591,916|493,809|
|Charitable
activities|||||1,925,809|1,925,809|1,276,374|
|Other trading
activities||||994,541||994,541|1,079,358|
|Investments||||57,070|71,824|128,894|106,388|
|Other income|||||||41,225|
|Total income||||1,642,527|1,998,633|3,641,160|2,997,154|
|Expenditure
on:||||||||
|Raising funds|||9|908,693|346|909,039|852,054|
|Charitable
activities|||10|621,723|1,532,368|2,154,091|1,312,043|
|Total expenditure||||1,530,416|1,532,714|3,063,130|2,164,097|
|Net income before net||(losses)/gains||||||
|on investments||||112,111|465,919|578,030|833,057|
|Net (losses)/gains|on investments|||(165,645)|(201,031)|(366,676)|211,124|
|Net (expenditure)fincome||||(53,534)|264,888|211,354|1,044,181|
|Transfers
between|funds||23|(2,685)|2,685|||
|Net movement
in|funds before other|||||||
|recognised
gains/(losses)||||(56,219)|267,573|211,354|1,044,181|
|Other recognised|gains/(losses):|||||||
|Actuarial gains/(losses)||on defined||||||
|benefit pension schemes|||29|63,750||63,750|(63,750)|
|Net movement
in|funds|||7,531|267,573|275,104|980,431|
|Reconciliation
of|funds:|||||||
|Total funds
brought|forward|||3,330,689|12,873,082|16,203,771|15,223,340|
|Net movement
in funds||||7,531|267,573|275,104|980,431|
|Total funds carried forward||||3,338,220|13,140,655|16,478,875|16,203,771|
##
|||||CONSOLIDATED|BALANCE SHEET|||
|---|---|---|---|---|---|---|---|
|||||AS AT 31|MARCH 2023|||
||||||2023||2022|
|||||Note|E|||
|Fixed assets||||||||
|Tangible assets||||16|10,229,442||10,275,709|
|investments||||17|4,059,500||4,452,779|
||||||14,288,942||14,728,488|
|Current assets||||||||
|Stocks||||18|27,683|24,707||
|Debtors||||19|1,237,590|855,181||
|Cash at bank and|in|hand|||1,540,230|1,087,254||
||||||2,805,503|1,967,142||
|Creditors: amounts||falling due within||one||||
|year||||20|(603,589)|(416,672)||
|Net current assets|||||2,201,914||1,550,470|
|Total assets less|current liabilities||||16,490,856||16,278,958|
|Creditors: amounts||falling due after||more||||
|than one year||||21|(1,895)||(1,855)|
|Provisions
for liabilities||||22|(10,086)||11,668|
|Net assets excluding|||pension asset1|||||
|liability|||||16,478,875||16,288,771|
|Defined benefit pension|||scheme asset I|||||
|liability||||29|||(85,000)|
|Total net assets|||||16,478,875||16,203,771|
|Charity funds||||||||
|Restricted
funds||||23|13,140,655||12,873,082|
|Unrestricted
funds||||23|3,338,220||3,330,689|
|Total funds|||||16,478,875||16,203,771|
##
##
||||COMPANY BALANCE SHEET|COMPANY BALANCE SHEET|||
|---|---|---|---|---|---|---|
||||AS AT 31 MARCH 2023||||
|||||2023||2022|
||||Note|F|||
|Fixed assets|||||||
|Tangible assets|||16|10,189,097||10,225,276|
|Investments|||17|4,059,502||4,452,781|
|||||14,248,599|',|' 14,678,05?|
|Current assets|||||||
|Debtors|||19|1,539,666|1,226,585||
|Cash at bank and|in|hand||1,377,467|972,349||
|||||2,917,133|2,198,934||
|Creditors: amounts||falling due within|one||||
|year|||20|(490,346)|(478,093)||
|Net current assets||||2,426,787||1,720,841|
|Total assets less|current liabilities|||16,675,386||16,398,898|
|Total net assets||||16,675,386||16,398,898|
|Charity funds|||||||
|Restricted funds|||23|13,140,655||12,873,082|
|Unrestricted
funds|||||||
|Designated
funds|||23|807,249|807,249||
|General funds|||23|2,727,482|2,718,56?||
|Total unrestricted|funds||23|3,534,731||3,525,816|
|Total funds||||16,675,386||16,398,898|
#
#
#
##
##
##
|||||2023|2022|
|---|---|---|---|---|---|
|Cash flows from operating
activities||||||
|Net cash|used
in operating
activities,|||455,825|334,762|
|Cash flows from investing
activities||||||
|Dividends,|interests
and rents from investments|||17,573,|/2,571|
|Proceeds|from the sale oftangible fixed|assets|||50|
|Purchase|oftangible
fixed assets|||(47,025)|(240,969)|
|Proceeds|from sale of investments|||823,150|306,502|
|Purchase|of investments|||(796,547)|(269,976)|
|Net cash|used in investing
activities|||(2,849)|(191,822)|
|Change|in cash and cash equivalents|in|the year|452,976|142,940|
|Cash and cash equivalents
at the beginning|||ofthe year|1,087,254|944,314|
|Cash and cash equivalents
at the end of|||the year|1,540,230|1,087,254|
|The notes on pages 29 to 56 form part ofthese financial statements||||||
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##
|||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023f|2023|
||Donations|||590,916|1,000|591,916|
||||||Unrestricted|Totai|
||||||funds|funds|
||||||2022|2022|
||Donations||||493,809|493,809|
|5.|Income from charitable||activities||||
||||||Restricted|Total|
||||||funds|funds|
||||||2023|2023|
||||||E|E|
||Creation ofcommunity|woodland|||1,925,809|1,925,809|
||||||Restricted|Totai|
||||||funds|funds|
||||||2022|2022|
||Creation ofcommunity|woodland|||1,276,374|1,276,374|
##
##
##
##
|||||Unrestricted|Total|
|---|---|---|---|---|---|
|||||funds|funds|
|||||2023|2023|
||||||E|
|Royalties and|rents receivable|from the extraction of minerals|under licence|||
|fees||||22,396|22„396|
|Miscellaneous|income|||355|355|
|Wind turbine|income|||97,536|97,536|
|||||120,287|120,287|
|||||Unrestricted|Tote/|
|||||funds|funds|
|||||2022|2022|
|Royalties and|rents receivable|from the extraction of minerals.|under licence|||
|fees||||80,665|80,665|
|Miscellaneous|income|||/,905|1,905|
|Wind turbine|income|||52,942|52,942|
|||||135,512|135,5'/2|
|Income|from|non charitable|trading activities|||
|---|---|---|---|---|---|
|||||Unrestricted|Total|
|||||funds|funds|
|||||2023|2023|
|Marston|Vale|Services trading|as The Forest Centre Limited|737,948|737,948|
|Marston|Vale|Farms Limited||136,306|136,306|
|||||874,254|874,254|
##
##
##
##
##
##
|Income|from|non charitable
trading
activities (continued)|||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds|funds|
||||2022|2022|
|Marston|Vale|Services trading as The Forest Centre Limited|579,736|579,736|
|Marston|Vale|Farms Limited|364,109|364, 'l 09|
||||943,845|943,845|
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023f|2023|2023
f.|
|Rents received and licence fees||13,000||13,000|
|Investment|income for charity|44,070|71,824|115,894|
|||57,070|71,824|128,894|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2022|2022|2022|
|Rents received and licence fees||12,'500||12,500|
|Investment|income for charity|32,123|61,764|93,887|
|||44,623|61,764|106,387|
##
##
||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2022|2022|
|Government|grants|receivable|4f,225|4f,225|
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2023|
|||F|E||
|Other costs||77,404'|346|77,750|
|Wages|and salaries|22,400||22,400|
|National|Insurance costs|2,597||2,597|
|||102,401|346|102,747|
##
##
##
|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2022|2022|2022|
|Other costs||90,725|829|91,554|
|.Wages|and salaries|25,656||25,656|
|National|Insurance costs|2,124||2,124|
|||118,505|829|119,334|
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2023|2023|
|||F|E|
|Marston Vale Services trading as The Forest Centre Limited costs||330,038|330,038|
|Marston Vale Farms Limited costs||14,680|14,680|
|Subsidiary|staft costs|451,488|451,488|
|Subsidiary|depreciation|10,086|10,086|
|||806,292|806,292|
##
##
##
##
##
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
|Marston Vale Services trading as The Forest Centre Limited costs||272,294|272,294|
|Marston Vale Farms Limited costs||45,662|45,662|
|Subsidiary|staff costs|402,155|402,155|
|Subsidiary|depreciation|12,609|12,609|
|||732,720|732,720|
##
##
|||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|
|||||funds|funds|Total|
|||||2023
E|2023
f|2023|
|Creation|of|community|woodland|621,723|1,532,368|2,154,091|
|||||Unrestricted|Restricted||
|||||funds|funds|Total|
|||||2022|2022|2022|
|Creation|of|community|woodland|502,404|809,639|1,312,043|
##
##
##
##
||||||Staff costs|Depreciation|Other costs|Total|
|---|---|---|---|---|---|---|---|---|
||||||2023|2023|2023|2023|
||||||||E|F|
||Creation|ofcommunity|woodland||394,454|83,205|1,676,432|2,154,091|
||||||Staffcosts|Depreciation|Other costs|Totai|
||||||2022|2022|2022|2022|
||Creation|ofcommunity|woodland||302,668|80,132|929,243|1,312,043|
|11.|Analysis|ofexpenditure||by activities|||||
|||||Activities||||
|---|---|---|---|---|---|---|---|
|||||undertaken|Support||Total|
|||||directly|costs||funds|
|||||2023|2023||2023|
|||||E|E|||
|Creation|of|community|woodland|2,093,730|60,361||2,154,091|
|||||Activities||||
|||||undertaken|Support||Totai|
|||||directly|costs||funds|
|||||2022|2022||2022|
|Creation|of|community|woodland|1,252,056|59,987||1,312,043|
|||||||I||
##
##
##
|||||Creation of||
|---|---|---|---|---|---|
|||||community|Total|
|||||woodland|funds|
|||||2023|2023|
||||||E|
|Staff costs||||357,377|357,377|
|Depreciation||||83,205|83,205|
|Grants, tree|sponsorship|and similar incoming|resources|1,653,148|1,653,148|
|||||2,093,730|2,093,730|
|||||Creation ot||
|||||community|Total|
|||||woodland|funds|
|||||2022|.2022|
|Staff costs||||268,455|268,455|
|Depreciation||||80,132|80,132|
|Grants, tree|sponsorship|and similar incoming|resources|903,469|903,469|
|||||1,252,056|1,252,056|
|Analysis of|support costs|||||
|||||Creation of||
|||||community|Total|
|||||woodland|funds|
|||||2023|2023f|
|Governance|costs|||60,361|60,361|
##
##
##
##
##
|Analysis
of|support costs (continued)|||
|---|---|---|---|
|||Creation ol||
|||community|Total|
|||woodland|funds|
|||2022|2022|
|Governance|costs|59,987|59,987|
##
##
|||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|
|||||2023|2022|2023|2022|
|||||||F||
|Wages and|salaries|||786,504|662,910|362,816|281,942|
|Social security costs||||55,399|44,058|39,206|29,765|
|Contribution|to defined|contribution|pension|||||
|schemes||||29,036|25,636|17,429|18,742|
|||||870,939|732,604|419,451|330,449|
|||Group|Group|
|---|---|---|---|
|||2023|2022|
|||No.|No.|
|Total|employees|55|53|
##
##
##
##
##
##
##
##
##
##
||Other|Forest||Other||
|---|---|---|---|---|---|
||Freehold|Centre and||Fixtures and||
||and|Millennium||Fittings,||
||Leasehold|Country|Motor|Plant and||
||Land|Park|vehicles
E|Equipment|Totalf|
|Cost or valuation||||||
|At 1 April 2022|4,885,283|7,269,429|34,229|78,566|12,267,507|
|Additions||39,903||7,122|47,025|
|At 31 March 2023|4,885,283|7,309,332|34,229|85,688|12,314,532|
|Depreciation||||||
|At 1 April 2022||1,901,213|29,481|61,105|1,991,799|
|Charge for the year||88,418|1,187|3,686|93,291|
|At 31 March 2023||1,989,631|30,668|64,791|.2,085,090|
|Net book value||||||
|At 31 March 2023|4,885,283|5,319,701|3,561|20,897|10,229,442|
|At 31March 2022|4,885,283|5,368,216|4,748|17,461|10,275,708|
##
##
||Other|Forest||Other||
|---|---|---|---|---|---|
||Freehold|Centre and||Fixtures and||
||and|Millennium||Fittings,||
||Leasehold|Country|Motor|Plant and||
||Land|Park|vehicles|Equipment|Total|
||E|F|E|E|E|
|Cost or valuation||||||
|At 1 April 2022|4,885,283|7,176,870|34,229|78,566|12,174,948|
|Additions||39,903||7122|47,025|
|At 31 March 2023|4,885,283|7,216,773|34,229|85,688|12,221,973|
|Depreciation||||||
|At 1 April 2022||1,859,086|29,481|61,105|1,949,672|
|Charge for the year||78,331|1,187|3,686|83,204|
|At 31 March 2023||1,937,417|30,668|64,791|2,032,876|
|Net book value||||||
|At 31 March 2023|4,885,283|5,279,356|3,561|20,897|10,189,097|
|At31March 2022|4,885,283|5,317,784|4,748|17,461|10,225,276|
##
##
||Listed|
|---|---|
||securities|
|Group|E|
|Cost or valuation||
|At 1 April 2022|4,452,779|
|Additions|796,547|
|Disposals|(823,150)|
|Revaluations|(366,676)|
|At 31 March 2023|4,059,500|
|Net book value||
|At 31 March 2023|4,059,500|
|At 31March 2022|4,452,779|
||Investments|||
|---|---|---|---|
||In|||
||subsidiary|Listed||
||companies|investments|Total|
|Company||||
|Cost or valuation||||
|At 1 April 2022||4,452,779|4,452,781|
|Additions||796,547|796,547|
|Disposals||(823,150)|(823,150)|
|Revaluations||(366,676)|(366,676)|
|At 31 March 2023|2|4,059,500|4,059,502|
|Net book value||||
|At 31 March 2023|2|4,059,500|4,059,502|
|At 31March 2022|2|4,452,779|4,452,7S1|
##
##
##
|||||||Group|Group|
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|Finished|goods|and|goods|for|resale|27,683|24,707|
##
||||||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|2023|2022|
||||||||E||E||
|Due within one year|||||||||||
|Trade debtors|||||||104,813|156,350|82,370|95,777|
|Amounts
owed by group|||||undertakings||||362,979|477,483|
|Other debtors|||||||109,164|10,408|136,042|10,328|
|Prepayments|and accrued income||||||1,023,613|688,423|958,275|642,997|
||||||||1,237,590|855,181|1,539,666|1,226,585|
|Creditors: Amounts||||falling due||within one year|||||
||||||||Group|Group|Company|Company|
||||||||2023|2022|2023|2022|
||||||||F||f.||
|Trade creditors|||||||354,380|109,224|320,014|66,536|
|Other taxation|and|social security|||||14,285|34,870||22|
|Other creditors|||||||19,915|29,308|7,017|20,692|
|Accruals and|deferred|||income|||215,009|243,270|163,315|390,843|
||||||||603,589|416,672|490,346|478,093|
||||||||Group|Group|Company|Company|
||||||||2023|2022|2023|2022|
||||||||E||||
|Deferred
income at|||1|April 2022|||56,434|55,768|28,625|22,952|
|Resources deferred|||during
the year||||35,841|35,080|22,525|25,129|
|Amounts
released||from previous||||periods|(50,897)|(34,414)|(21,401)|(19,456)|
||||||||41,378|56,434|29,749|28,625|
##
##
##
##
|21.|Creditors: Amounts|falling due after more than one year|||
|---|---|---|---|---|
||||Group|Group|
||||2023|2022|
||Accruals and deferred|income|1,895|1,855|
##
|Group|||||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|Brought forward|||||11,668|(11,977)|
|Charge/credit|for the|period|||(504)|2,395|
|Other comprehensive||income|||(21,250)|21,250|
||||||(10,086)|11,668|
|The deferred|tax balance||is made|up as follows:|||
||||||Group|Group|
||||||2023|2022|
|Accelerated|capita! allowances||||(10,086)|(9,582)|
|Pension scheme deficit||||||21,250|
||||||(10,086)|11,668|
||||NOTES TO|THE FINANCIAL|THE FINANCIAL|STATEMENTS|STATEMENTS|||
|---|---|---|---|---|---|---|---|---|---|
||||FOR THE|YEAR ENDED 31 MARCH|||2023|||
|23.|Statement|offunds||||||||
||Statement|offunds|- current year|||||||
||||||||||Balance at|
||||Balance at 1||||Transfers|Gains/|31 March|
||||April 2022|Income|Expenditure||in/out|(Losses)|2023|
|||||F|||E|E||
||Unrestricted
funds|||||||||
||Designated|funds||||||||
||England
Woodland|||||||||
||Grant Scheme||807,249||||||807,249|
||General funds|||||||||
||General
Funds - all|||||||||
||funds||2,718,567|768,273|(591,030)||(2,685)|(165,645)|2,727,480|
||Subsidiaries|||||||||
||reserves||(131,377)|874,254|(939,386)||||(196,509)|
||Pension reserve||(63,750)|||||63,750||
||||2,523,440|1,642,527|(1,530,416)||(2,685)|(101,895)|2,530,971|
||Total Unrestricted|||||||||
||funds||3,330,689|1,642,527|(1,530,416)||(2,685)|(101,895)|3,338,220|
||Restricted|funds||||||||
||The Forest|Centre||||||||
||and Country
Park||4,666,678|||(46„105)|63||4,620,636|
||Land aquired
for the|||||||||
||creation of|||||||||
||Community|||||||||
||Woodland||4,885,283||||||4,885,283|
||Creation of|||||||||
||Community
Woodland|Fund|3,029,314|233,888|(320,689)||2,622|(201,031)|2,744,104|
||Trees for Climate||291,807|1,764,745|(1,165,920)||||890,632|
||||12,873,082|1,998,633|(1,532,714)||2,685|(201,031)|13,140,655|
||Total offunds||16,203,771|3,641,160|(3,063,130)|||(302,926)|16,478,875|
##
|Stateme|nt offunds|- prior y|ear|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at|||Gains&|31 March|
||||1April 2021|Income|Expenditure|(Losses)|2022|
|Unrestricted
funds||||||||
|Designated
funds||||||||
|England|Woodland|Grant||||||
|Scheme|||807,249||||807,249|
|General|funds|||||||
|General|Funds - all|funds|2,288,182|715,170|(335,658)|50,873|2,718,567|
|Subsidiaries
reserves|||(57,252)|943,845|(1,017,970)||(131,377)|
|Pension|reserve|||||(63,750)|(63,750)|
||||2,230,930|1,659,015|(1,353,628)|(12,877)|2,523,440|
|Total Unrestricted||funds|3,038,179|1,659,015|(1,353,628)|(12,877)|3,330,689|
##
##
|Statement|offunds. (continued)||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at|||Gain+|31March|
|||1April 2021|Income|Expenditure|(Losses)|2022|
|Restricted|funds||||||
|The Forest|Centre and Country||||||
|Park||4,713,018||(46,340)||4,666,678|
|Land aquired
for the creation of|||||||
|Community|Woodland|4,885,283||||4,885,283|
|Creation of Community|||||||
|Woodland|Fund|2,534,769|511,357|(177,063)|160,251|3,029,314|
|Trees for Climate||52,091|826,782|(587,066)||291,807|
|||12,185,'/61|1,338,139, (810,469)||160,251|12,873,082|
|Total offunds||15,223,340|2,997,154|(2,164,097)|147,374|16,203,771|
##
|Summary
offun|ds - current yea|r|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Bal'ance at 1|||Transfers|Gains/|31 March|
||April 2022
E|Income
f|Expenditure
E|in/out|{Losses)|2023f|
|Designated|||||||
|funds|807,249|||||807,249|
|General funds|2,523,440|1,642,527|(1,530,416)|(2,685)|(101,895)|2,530,971|
|Restricted funds|12,873,082|1,998,633|i (1,532,714)|2,685|(201,031)|13,140,655|
||16,203,771|3,641,160|(3,063,130)||(302,926)|16,478,875|
##
##
|Summary|offunds - prio|r year|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at|||Gains'|31March|
|||1 April 2021f|Income|Expenditure|(Losses)|2022|
|Designated|funds|807,249||||807,249|
|General funds||2,230,930|1,659,015|(1,353,628)|(12,877)|2,523,440|
|Restricted|funds|12,185,'/61|1,338,139|(810,469)|160,251|12,873,082|
|||15,223,340|2,997,154|(2, 164,097)|147,374|16,203,771|
##
|Analysis
Analysis|of net assets
of net assets|between
funds
between
funds - current|year|||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2023
f|2023
f|2023f|
|Tangible|fixed assets||723,522|9,505,920|10,229,442|
|Fixed asset investments|||424,765|3,634,735|4,059,500|
|Current assets|||2,832,670||2,832,670|
|Creditors|due within one year||(630,756)||(630,756)|
|Creditors|due in more than one year||(1,895)||(1,895)|
|Provisions|for liabilities|and charges|(10,086)||(10,086)|
|Total|||3,338,220|13,140,655|16,478,875|
##
##
|25.|Analysis|ofnet assets between|funds (continued)|funds (continued)||||
|---|---|---|---|---|---|---|---|
||Analysis|ofnet assets between|funds - prior year|||||
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2022|2022|2022|
||Tangible|fixed assets|||723,747|9,551,961|10,275,708|
||Fixed asset investments||||1,13'/, 658|3,321,'l21|4,452,?79|
||Current assets||||1,967,142||1,967,142|
||Creditors|due within one year|||(416,672)||(416,672)|
||Creditors|due in more than one year|||(1,855)||(1,855)|
||Provisions|for liabilities
and charges|||(?3,332)||(73,332)|
||Total||||3,330,688|12,873,082|16,203,770|
|26.|Reconciliation
of net movement|||in funds to net cash flow from operating||activities||
|||||||Group|Group|
|||||||2023|2022|
||Net income for the year (as per Statement of Financial Activities)|||||211,354|1,044,181|
||Adjustments
for:|||||||
||Depreciation
charges|||||93,291|92,739|
||Gains on|investments||||366,676|(211,154)|
||Dividends,|interests
and rents from||investments||(17,573)|(12,571)|
||Loss on the sale offixed assets||||||4|
||Decrease/(increase)
in stocks|||||(2,976)|1,578|
||Increase|in debtors||||(409,576)|(646,572)|
||Increase|in creditors||||214,125|146,881|
||Deferred|tax charge||||504|(2,395)|
||Net cash|provided
by operating|activities|||455,825|412,691|
|29.|Pension||commitments|(continued)|(continued)|(continued)|(continued)||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Principal|actuarial
assumptions|||||at the|Balance sheet||date|(expressed||as||weighted||averages):||||
|||||||||||||2023||||||2022|||
||Discount||rate at 31 March|||||||||3.5%||||||3.5%|||
||||||||||||||||||2023||2022||
||||||||||||||||||F||||
||Market value ofassets|||||||||||||||1,193,000|||1,194,000||
||Present|value ofscheme|||liabilities|||||||||||(1,193,000)|||(1,279,000)||
||Deficit in||the scheme|||||||||||||||||(85,000)|
||Related|deferred tax asset||||||||||||||||||21,250|
||Net pension
liability|||||||||||||||||||(63,750)|
||||||||||||||||||2023||2022||
||||||||||||||||||F||||
||Movements
in deficit during the||||||year:||||||||||||||
||Deficit in||scheme at beginning|||of year|||||||||||(85,000)||||
||Contributions||||||||||||||||||||
||Actuarial||loss||||||||||||||85,000|||(85,000)|
||Deficit in||scheme at end|ofyear||||||||||||||||(85,000)|
|30.|Operating||lease commitments||||||||||||||||||
||At 31 March 2023 the||||Group||and|the|Company|had|commitments||||to|make|future
minimum|||lease|
||payments||under non-cancellable||||operating||leases as|follows:|||||||||||
|||||||||||Group||Group||||Company|||Company||
|||||||||||2023|||2022||||2023|||2022|
|||||||||||||||||||P|||
||Not later|than
1 year|||||||||974|||837||||111||132|
||Later than||1 year and not||later|than 5||years|||16|||596||||16||272|
||Later than||5years||||||||962|||966||||962||966|
|||||||||||1,952|||2,399||||1,089|||1,370|
##
##
##
|The following||were subsidiary
undertakin|gs
ofthe Compan|y:||||
|---|---|---|---|---|---|---|---|
|Names|||Company|Principal
activity||Class of|Holding|
||||number|||shares||
|Marston Vale||Services trading as The|03538255|Commercial
operation||Ordinary|100%|
|Forest Centre||Limited||ofthe visitor centre||||
|||||and conference centre||||
|Marston Vale||Farms Limited|06537891|Managing
land to||Ordinary|100%|
|||||raise funds for its||||
|||||parent company||||
|The financial|results ofthe subsidiaries||for the year were:|||||
|Names|||Income|Expenditure|Profit/(Loss)||Net assets|
||||E|F|I|Surplus/|E|
||||||(Deficit) for|||
|||||||the year||
|||||||F||
|Marston Vale||Services trading as The|733,919|(788,462)||(54,543)|(226,768)|
|Forest Centre||Limited||||||
|Marston Vale||Farms Limited|136,306|(146,897)||(10,591)|30,259|