**Registered number: 03590104 Charity number: 1071041** 

## **Lodge Hill Trust** 

**(A company limited by guarantee)** 

## **Unaudited** 

**Trustees' report and financial statements For the year ended 31 December 2024** 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

## **Contents** 

||Page|
|---|---|
|**Reference and administrative details of the company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 9|
|**Independent examiner's report**|10|
|**Statement of financial activities**|11|
|**Balance sheet**|12 - 13|
|**Statement of cash flows**|14|
|**Notes to the financial statements**|15 - 36|





**Lodge Hill Trust** 

**(A company limited by guarantee)** 

## **Reference and administrative details of the company, its Trustees and advisers For the year ended 31 December 2024** 

|**Trustees**|Mr Matthew Wykes, DipPFS, Chairman|
|---|---|
||Mr Guy Nelson, MA (Ed); NPQH|
||Mr Richard Whittaker|
||Ms Penny Barnes|
||Mr Jack Marriott|
||Mr Raymond Dawe|
||Mr David Adams (appointed 28 January 2025)|
||Mrs Louise Gisbey (appointed 28 January 2025)|
||Mrs Annamarie Tapponnier (appointed 28 January 2025)|
|**Company registered**<br>**number**<br>03590104<br>**Charity registered**<br>**number**<br>1071041<br>**Registered office**<br>Lodge Hill<br>Watersfield<br>Pulborough<br>West Sussex<br>RH20 1LZ<br>**President**<br>Col. Sir Brian Barttelot, Bt; OBE; DL<br>**Accountants**<br>Kreston Reeves LLP<br>Chartered Accountants<br>9 Donnington Park<br>85 Birdham Road<br>Chichester<br>West Sussex<br>PO20 7AJ<br>**Bankers**<br>CAF Bank Ltd<br>25 Kings Hill Avenue<br>West Mailing<br>Kent<br>ME19 4JQ<br>**Key Management**<br>**Personnel**<br>Katie Collet, BSc (Hons), Chief Executive Officer (appointed 03 October 2024),<br>Finance and Operations Manager (resigned 03 October 2024)<br>Lisa May BSc (Hons); Dip HSW, Chief Executive Officer (resigned 03 October<br>2024)<br>Claire Sumner, Catering and Housekeeping Manager<br>Darren Worsfold, Activities Manager||



Page 1 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

## **Trustees' report** 

## **For the year ended 31 December 2024** 

The Trustees present their annual report together with the financial statements of the company for the 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) 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). 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 

## **Objectives and activities** 

## **a. Objectives and aims** 

The aim and purpose of the Trust is to ensure that the young people and others of West Sussex and beyond enjoy the educational benefits available at the Centre. 

The objects of the Trust set this out as: 

1) The advancement of the education of young people, primarily those resident in the county of West Sussex, by helping them to develop their mental and physical capabilities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved. 

2) The provisions of facilities for the further education of adults, primarily those resident in the county of West Sussex. 

Page 2 



## **Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Trustees' report (continued) For the year ended 31 December 2024** 

## **Objectives and activities (continued)** 

## **b. Charitable activities** 

Under the Charities Act 2011, the trustees are required to report on how the Trust has carried out its aims for the public benefit. 

The Trust's objects are set out in the Memorandum of Association and include particularly the advancement of the education of young people and the provision of the facilities for the further education of adults. 

The Charity Commission has set out 2 key principles of public benefit, being that there must be identifiable benefits which are related to the Trust's aims and that the benefit must be for the public or a section of the public. 

A) Identifiable benefits related to the objects of the Trust include the following: 

## 1. Provision of Facilities 

The 30-acre site at Lodge Hill includes a camp site, residential accommodation, outdoor activities and meeting and conference facilities. 

## 2. Giving an education 

The Trust's employees include instructors who are trained in the use of all facilities at the site enabling all the users to be educated in their use. The instructors are not only able to teach users how to achieve personal targets but also, very importantly, how to achieve those targets as a part of a group or team. The Trust achieved accreditation with "Learning Outside the Classroom". 

## 3. Preserving the environment 

The Trust's 30 acre site is mainly woodland which is maintained by the Trust's employees for the benefit of all the users generally but also allowing, particularly, school groups, to fulfil educational requirements arising from the national curriculum. 

## B) The benefit for the public can be illustrated as follows: 

1. In the year ended 31st December 2024, there were approx. 15,500 users (mainly children and young people) who visited Lodge Hill. 

2. Many of these users were young people that took part in activities organised by the outdoor instructors during the period. 

The Trust has made it a particular priority to ensure that the centre's facilities are available for disabled users by developing and improving access around the site. This year we have improved access to the high level activities such as High Zip Line, Climbing and Abseiling with the addition of a disability sling and the required training of the instructors. 

The use of consistent feedback from both providers and service users ensures that the Trust is able to measure the success of the adaptations and additions being made. This feedback is also used to develop and explore future projects. 

Page 3 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Trustees' report (continued) For the year ended 31 December 2024** 

## **Achievements and performance** 

## **a. Chairman's Report** 

2024 brought with it a few challenges. Mainly positive ones. The land sale finally completed in December 2023. So whilst we had a quieter period Jan – March, we wanted to make the most of it and complete as many refurbishment projects with the resulting funds. 

To date we have updated the 2 lodges in the grounds, cleared the campsite in order that it is re-born as a more rugged camping experience. We replaced windows and bathrooms on the 1st floor, Installed a new fire detection system and electrical works to comply with necessary legislation. CCTV and a new computer hardware were installed. The Bradbury suite had a new floor fitted. Roof repairs were carried out and boilers replaced. We refurbished the Archery and Sno-Tubing activities, bought new go-karts and improved the kitchens and bathrooms of our live-in staff. Needless to say we are ready for another busy year and the team are really motivated to provide a great service and experience to our young people. 

There has been a change in CEO and I am delighted that Katie Collet is at the helm. She has settled the team, everyone is focused, have autonomy within their roles and the atmosphere within the team is really positive. 

We conducted a full HR audit and, along with the H&S audit that commenced 3 years ago, Lodge Hill is in good operational shape to move forward. 

Financially you will see in the accounts that a slight distortion due to unbudgeted legal costs as an example. However, the charity has sufficient reserves to meet this unexpected and unnecessary expenditure. 

Our core business remains schools in a day visit or residential capacity. We have a strong relationship with West Sussex County Council and are one of their preferred providers of activities for family groups with a disabled child or young person. The ChallengeU programme for young people that have offended, are at risk of offending or have disengaged with society or education is becoming an increasing influence on our overall offering at Lodge Hill and the need increases with much younger young people requiring intervention and support than we had anticipated. We have great conference facilities to host meetings, corporate events and presentations that add additional income streams to support our core work of supporting children and young people to thrive. 

2025 is about delivering what we are renowned for, delivering a consistent service to our young people regardless of ability. As we draw breath from the refurbishment and replacement projects throughout the site, we are more ready and prepared than we have ever been. Our focus will also be on developing new income streams by opening up new relationships with local businesses and potential bookers. Increasing awareness in the local communities of our charitable status. 

## **Development plan** 

In developing our business plan, we recognised that the challenge for Lodge Hill was to become a viable and accessible, high-class provider of choice for users from West Sussex and beyond requiring outdoor activities, residential trips and day meetings/conferences, thus enabling the Trust to remain financially sustainable. We reaffirmed the Trust's mission to target a wide range of groups and individuals, including those with physical disabilities, mental health or learning difficulties and young offenders. The business plan identified that in order to achieve this challenge the Trust would need to: 

1. Maintain financial sustainability whilst ensuring Lodge Hill provides best value for money for young people 

2. Maintain a professional and committed staff team 

3. Maximise the use of facilities and establish on-going communications with key players and supporters 

4. Maintain the centre and its facilities to a high standard and plan appropriate improvements 

5. Establish joint initiatives with recognised partners and targeted funding. 

Page 4 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Trustees' report (continued) For the year ended 31 December 2024** 

## **Achievements and performance (continued)** 

## **b. Key performance indicators** 

The principal indicators of performance are financial reporting of current results compared to the budget numbers and previous years. The budget is formally adopted at a meeting of Trustees at the start of the year. Financial reports are prepared by the Accounts Manager and considered in detail by the Finance Committee four times per year. They are presented and discussed by the full board of trustees at each of their meetings. Client satisfaction and statistics of repeat bookings are also considered as performance indicators. 

## **c. Events since the balance sheet date** 

Bookings are buoyant for 2025 and beyond. We have taken bookings from new customers for residential and activity days who would previously have visited other centers further afield. As other centres close, bookings continue to come our way. 

## **d. Investment policy** 

The Trust has unrestricted authority to invest its funds in the furtherance of its charitable objectives. A proportion of retained reserves is held in the form of listed investments. It is the Trust's policy to have these managed by an independent investment manager under a discretionary mandate requiring a mix of equity and fixed income investments. Although the Trust has not adopted a specific ethical policy, they have instructed the investment manager that they should refrain from investing in companies that undertake activities that are incompatible with the aims and objectives of Lodge Hill. The trustees review the performance of the investment manager periodically and consider the returns achieved to date to have been satisfactory. 

## **Financial review** 

## **a. Financial review** 

Bookings were extremely buoyant throughout 2024 for schools and we delivered a higher level of SEND provision in partnership with WSCC. Our Alternative Provision sessions have been in great demand and POM Trust funding has enabled us to increase delivery. Costs have remained largely stable but we have identified some savings in operational costs. 

The receipt of the funds from the sale of the parcel of land in December means that extensive refurbishment of the main house and grounds will be enabled during 2024. This payment has had a significant effect on the income for the year and the net cash inflow has been designated for specific purposes as detailed in the statement of funds note. 

Principle risks and measures are reviewed annually by the Trustees. Any factors likely to affect future financial performance are discussed and included in forecasts which are reviewed monthly at Finance Committee Meetings. 

## **b. Going concern** 

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. 

Page 5 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

## **Trustees' report (continued) For the year ended 31 December 2024** 

## **c. Reserves policy** 

The Trustees review the level of reserves regularly. Reserves are a key element of financial stability and allow the Trust to cope with the fluctuating nature and timing of cash flows. Reserves allow the Trust to deal with unexpected expenditure or changes in income and give time for appropriate action to be taken. Following the receipt of the land sale funds, the Trustees plan to be able to cover 3-6 months running costs of the centre. 

The total funds at the year-end were £1,943,968 (2023: £2,729,194). Of this total, £2,061,426 (2023: £2,611,080) is designated as follows: 

The fixed asset fund is not readily available to spend, it is the balance of the fixed assets' value. 

The Continuity reserve is the balance of the current asset investments' value. 

Restricted funds at the year-end were £65,468 (2023: £65,510). 

The financial year had extraordinary one-off costs which were monitored closely and managed by the Board of Trustees as part of their duties. The planned refurbishments reduced the ability to generate income from some charity sources, but these have been complete for the next financial year activities and budgeting. 

During the year, the Trustees/finance sub-committee continued to meet regularly and during those meetings have agreed the charity budget for the next financial year. 

As part of the budget setting process, the Trustees continue to regularly review the charity free reserves position and are working towards a positive general fund level of free reserves. 

## **Structure, governance and management** 

## **a. Constitution** 

Lodge Hill Trust is registered as a charitable company limited by guarantee under registered number 03590104, and a registered charity under the charity number 1071041. It was incorporated on 30th June 1998 in the United Kingdom. The charity is governed by its Memorandum of Association. 

Page 6 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

## **Trustees' report (continued) For the year ended 31 December 2024** 

## **Structure, governance and management (continued)** 

## **b. Methods of appointment or election of Trustees** 

New trustees are recruited primarily by utilising the knowledge of the existing trustees who have a wide network of contacts in the voluntary and business communities in West Sussex. Potential trustees visit Lodge Hill and meet with the chairman and at least one other trustee. They are provided with background papers and receive a detailed briefing. If both sides feel that they wish to proceed, the potential trustee is invited to attend a trustees' meeting as an observer. Following the meeting a decision is made on whether to invite the individual to become a trustee. 

When seeking new trustees Lodge Hill looks for:- 

- Compatibility with the charity's values, aims and way of working. 

- Availability to attend meetings, support activities, work on sub-committees, interact with staff and to encourage supporters. 

- An enduring enthusiasm for the charity's objectives. 

- An ability to establish priorities and to make logical decisions. 

- They must be able to contribute effectively, to have listening skills and must have a willingness to share responsibilities. 

- While specialist expertise is not a pre-requisite, new trustees should enrich the diversity of the board. 

- Trustees must possess independence of mind and have the skill to challenge constructively, and be capable of and have experience of strategic thinking at board level. All new trustees join an induction programme designed to familiarise them with the strategy, management and day-to-day activity of Lodge Hill. 

## **c. Organisational structure and decision-making policies** 

The trustees meet as a board on at least four occasions during the year. Closer involvement in the charity's activities is maintained by appropriate committees of trustees, staff, users and professional advisers. Each committee reports to the board and is chaired by a trustee. Committees that were in place in 2024 were: 

Finance Health and Safety PR 

The day-to-day activities have been directed by the Chief Executive, Katie Collet, who works closely with the chair of the Trustees. She is supported by her management team. 

## **Wider network** 

Lodge Hill works with a wide range of youth and community organisations but does not have formal links with any wider network. 

Page 7 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Trustees' report (continued) For the year ended 31 December 2024** 

## **Structure, governance and management (continued)** 

## **d. Pay policy for senior management** 

The Finance Committee together with the Chair meet in December to consider salaries for key staff to be applied in the following financial year. The Committee consider proposals from the Chief Executive which take into account prevailing rates of pay in the local area together with any change in responsibilities. The Committee also consider the remuneration of the Chief Executive. 

## **e. Related party relationships** 

The Supporters of Lodge Hill is a separate charity (registration number 1087269) that supports the work of Lodge Hill.  It has its own constitution and trustees. 

The Trust owns the issued share capital of Lodge Hill Services Limited.  This company is dormant and has not traded during the current financial year. 

## **f. Financial risk management** 

The Trustees consider the risks faced by the Trust at a special meeting at the year end and also consider measures to reduce their likelihood and impact. 

Sudden loss of income is the principle concern either from changes in the market which could reduce the capacity of the trust's clients to fund their visits or from damage to the facilities. The former risk is countered by sustained, targeted marketing and efforts to increase the breadth of its user groups. Risks to the facility are countered by careful management and an awareness of risks in the day to day operations. 

Page 8 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

## **Trustees' report (continued) For the year ended 31 December 2024** 

## **Statement of Trustees' responsibilities** 

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of the Charities SORP (FRS 102); 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards (FRS 102) 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 company will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

- Approved Approved by order of the members of the board of Trustees and signed on their behalf by: byMitJ, of the board of Trustees and signed on their behalf by: 

> **Mr Matthew Wykes, DipPFS** Mr Matthew Wykes, DipPFS 

Date: 

Page 9 



**Lodge Hill Trust** 

**(A company limited by guarantee)** 

## **Independent examiner's report** 

**For the year ended 31 December 2024** 

## **Independent examiner's report to the Trustees of Lodge Hill Trust ('the company')** 

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2024. 

## **Responsibilities and basis of report** 

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. 

> Signed: NLA Gornhk Dated: 26 June 2025 Lucy Hammond BSc FCA 

Kreston Reeves LLP Chartered Accountants 9 Donnington Park, 85 Birdham Road, Chichester, PO20 7AJ 

Page 10 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

## **Statement of financial activities (incorporating income and expenditure account) For the year ended 31 December 2024** 

|<br>**Note**<br>**Income from:**<br>Donations and legacies<br>4<br>Charitable activities<br>5<br>Other trading activities<br>6<br>Investments<br>7<br>Other income<br>8<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>9<br>**Total expenditure**<br>Net gains on investments<br>**Net (expenditure)/income**<br>Transfers between funds<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Unrestricted funds**<br>**General**<br>**funds**<br>**Designated**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total**<br>Total<br>**2024**<br>**2024**<br>**2024**<br>**Funds**<br>funds<br>**2024**<br>2023<br>**£**<br>**£**<br>**£**<br>**£**<br>£<br>**-**<br>**-**<br>**13,695**<br>**13,695**<br>20,721<br>**533,167**<br>**-**<br>**-**<br>**533,167**<br>583,729<br>**28,001**<br>**-**<br>**28,001**<br>27,807<br>**19,119**<br>**-**<br>**-**<br>**19,119**<br>8,180<br>**-**<br>**-**<br>**-**<br>**-**<br>767,494|
|---|---|
||**580,287**<br>**-**<br>**13,695**<br>**593,982**<br>1,407,931|
||**802,180**<br>**569,671**<br>**13,737**<br>**1,385,588**<br>801,708|
||**802,180**<br>**569,671**<br>**13,737**<br>**1,385,588**<br>801,708|
||**-**<br>**6,380**<br>**-**<br>**6,380**<br>7,109<br>**(221,893)**<br>**(563,291)**<br>**(42)**<br>**(785,226)**<br>613,332<br>**(13,637)**<br>**13,637**<br>**-**<br>**-**<br>-|
||**(235,530)**<br>**(549,654)**<br>**(42)**<br>**(785,226)**<br>613,332<br>**52,604**<br>**2,611,080**<br>**65,510**<br>**2,729,194**<br>2,115,862<br>**(235,530)**<br>**(549,654)**<br>**(42)**<br>**(785,226)**<br>613,332|
||**(182,926)**<br>**2,061,426**<br>**65,468**<br>**1,943,968**<br>2,729,194|



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

The notes on pages 15 to 36 form part of these financial statements. 

Page 11 



**Lodge Hill Trust (A company limited by guarantee) Registered number: 03590104** 

## **Balance sheet As at 31 December 2024** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>14<br>Investments<br>15<br>**Current assets**<br>Stocks<br>16<br>Debtors<br>17<br>Investments<br>18<br>Cash at bank and in hand<br>Creditors: amounts falling due within one<br>year<br>19<br>**Net current assets**<br>**Total assets less current liabilities**<br>Creditors: amounts falling due after more<br>than one year<br>20<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>21<br>Unrestricted funds<br>Designated funds<br>21<br>General funds<br>21<br>Total unrestricted funds<br>21<br>**Total funds**|**8,193**<br>**36,292**<br>**-**<br>**254,567**<br>**299,052**<br>**(111,043)**<br>**2,061,426**<br>**(182,926)**|**2024**<br>**£**<br>**1,883,780**<br>**86,619**<br>**1,970,399**<br>**188,009**<br>**2,158,408**<br>**(214,440)**<br>**1,943,968**<br>**65,468**<br>**1,878,500**<br>**1,943,968**|6,292<br>17,712<br>80,239<br>1,157,281<br>1,261,524<br>(223,016)<br>2,611,080<br>52,604|2023<br>£<br>1,914,826<br>-<br>1,914,826<br>1,038,508<br>2,953,334<br>(224,140)<br>2,729,194<br>65,510<br>2,663,684<br>2,729,194|
|---|---|---|---|---|



Page 12 



## **Lodge Hill Trust** 

## **(A company limited by guarantee) Registered number: 03590104** 

## **Balance sheet (continued) As at 31 December 2024** 

The company was entitled to exemption from audit under section 477 of the Companies Act 2006. 

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. 

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 

## **Mr Matthew Wykes, DipPFS** Mr Matthew Wykes, DipPFS 

## Date: bate) YS ob Lots 

The notes on pages 15 to 36 form part of these financial statements. 

Page 13 



**Lodge Hill Trust (A company limited by guarantee)** 

|**Statement of cash flows**<br>**For the year ended 31 December 2024**<br>**Cash flows from operating activities**<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Dividends, interests and rents from investments<br>Proceeds from the sale of tangible fixed assets<br>**Net cash provided by investing activities**<br>**Cash flows from financing activities**<br>Repayments of borrowing<br>**Net cash used in financing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**<br>The notes on pages 15 to 36 form part of these financial statements|**2024**<br>**£**<br>**(908,196)**<br>**19,119**<br>**-**<br>**19,119**<br>**(13,637)**<br>**(13,637)**<br>**(902,714)**<br>**1,157,281**<br>**254,567**|2023<br>£<br>(113,474)<br>8,180<br>1,033,744<br>**1,041,924**<br>(9,870)<br>**(9,870)**<br>**918,580**<br>238,701<br>1,157,281|
|---|---|---|



Page 14 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **1. General information** 

Lodge Hill Trust is a company limited by guarantee incorporated in England and Wales 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. 

The address of its registered office is: Lodge Hill Watersfield Pulborough West Sussex RH20 1LZ 

## **2. Accounting policies** 

## **2.1 Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Lodge Hill Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **2.2 Going concern** 

The financial statements have been prepared on a going concern basis. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 

Page 15 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **2. Accounting policies (continued)** 

## **2.3 Income** 

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. 

Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the company's accounting policies. 

On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the company which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. 

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 

## **2.4 Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs. 

All expenditure is inclusive of irrecoverable VAT. 

Page 16 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **2. Accounting policies (continued)** 

## **2.5 Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## **2.6 Tangible fixed assets and depreciation** 

Tangible fixed assets costing £2,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on the following bases. 

Depreciation is provided on the following bases: 

|Freehold property|- 2 - 5% straight line|
|---|---|
|Kitchen, campsite and outdoor|- 10 - 25% straight line|
|equipment||
|Motor vehicles|- 25% reducing balance|
|Fixtures and fittings|- 15% reducing balance|
|Office equipment|- 25% straight line|



## **2.7 Current asset investments** 

Current asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities. 

## **2.8 Stocks** 

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 

## **2.9 Debtors** 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **2.10 Cash at bank and in hand** 

Cash at bank and 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. 

Page 17 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **2. Accounting policies (continued)** 

## **2.11 Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. 

## **2.12 Financial instruments** 

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 

## **2.13 Finance leases and hire purchase** 

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. 

## **2.14 Operating leases** 

Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term. 

## **2.15 Pensions** 

In the past the company operated a defined benefits pension scheme for former employees. The scheme is a multi employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to individual participating employers. Therefore, as required by FRS102, the company accounts of this scheme are accounted for as if it was a defined contribution scheme. The amount charged to the statement of financial activities incorporating income and expenditure account represents contributions payable to the scheme in respect of the accounting period. 

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 

Page 18 



**Lodge Hill Trust** 

## **(A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **2. Accounting policies (continued)** 

## **2.16 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

Page 19 



**Lodge Hill Trust (A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **3. Critical accounting estimates and areas of judgment** 

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

Critical accounting estimates and assumptions: 

The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. 

Critical areas of judgment: 

Multi-employer defined benefit pension scheme: 

Certain former employees participate in a multi-employer defined benefit pension scheme with other companies in the region. In the judgement of the trustees, the company does not have sufficient information on the plan assets and liabilities to be able to reliably account for its share of the defined benefit obligation and plan assets. Therefore the scheme is accounted for as a defined contribution scheme, see pension note for further details. 

Page 20 



## **Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **4. Income from donations and legacies** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Donations - Individuals<br>-<br>Donations - Trusts<br>-<br>Donations - Others<br>-<br>-<br>Total 2023<br>1,371|**Restricted**<br>**funds**<br>**2024**<br>**£**<br>-<br>13,500<br>195<br>13,695<br>19,350|**Total**<br>**funds**<br>**2024**<br>**£**<br>**-**<br>**13,500**<br>**195**<br>**13,695**<br>20,721|Total<br>funds<br>2023<br>£<br>1,376<br>19,320<br>25|
|---|---|---|---|
||||20,721|
|||||



## **5. Income from charitable activities** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Residential and other charges<br>309,679<br>Day conferences<br>21,749<br>Activities<br>201,739<br>Campsite hire<br>-<br>533,167<br>Total 2023<br>583,729|**Total**<br>**funds**<br>**2024**<br>**£**<br>**309,679**<br>**21,749**<br>**201,739**<br>**-**<br>**533,167**<br>583,729|Total<br>funds<br>2023<br>£<br>329,820<br>25,488<br>221,652<br>6,769|
|---|---|---|
|||583,729|
||||



Page 21 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements** 

**For the year ended 31 December 2024** 

**6. Income from other trading activities** 

## **Income from non charitable trading activities** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Phone mast income<br>15,201<br>Rental income<br>8,000<br>Staff accommodation income<br>4,800<br>28,001<br>Total 2023<br>27,807|**Total**<br>**funds**<br>**2024**<br>**£**<br>**15,201**<br>**8,000**<br>**4,800**<br>**28,001**<br>27,807|Total<br>funds<br>2023<br>£<br>15,201<br>7,806<br>4,800|
|---|---|---|
|||27,807|
||||



**7. Investment income** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Investments<br>2,264<br>UK bank accounts<br>16,855<br>19,119<br>Total 2023<br>8,180|**Total**<br>**funds**<br>**2024**<br>**£**<br>**2,264**<br>**16,855**<br>**19,119**<br>8,180|Total<br>funds<br>2023<br>£<br>2,478<br>5,702|
|---|---|---|
|||8,180|
||||



## **8. Other incoming resources** 

|Profit/(loss) on disposal of land<br>Total 2023|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>-<br>767,494|**Total**<br>**funds**<br>**2024**<br>**£**<br>**-**<br>767,494|Total<br>funds<br>2023<br>£<br>767,494|
|---|---|---|---|
|||||



Page 22 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements** 

**For the year ended 31 December 2024** 

## **9. Analysis of expenditure on charitable activities** 

## **Summary by fund type** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Activities<br>1,371,851<br>Total 2023<br>779,535|**Restricted**<br>**funds**<br>**2024**<br>**£**<br>13,737<br>22,173|**Total**<br>**2024**<br>**£**<br>**1,385,588**<br>801,708|Total<br>2023<br>£<br>801,708|
|---|---|---|---|
|||||



## **10. Analysis of expenditure by activities** 

|Activities<br>Total 2023|**Activities**<br>**undertaken**<br>**directly**<br>**2024**<br>**£**<br>1,300,329<br>779,027|**Support**<br>**costs**<br>**2024**<br>**£**<br>85,259<br>22,681|**Total**<br>**funds**<br>**2024**<br>**£**<br>**1,385,588**<br>801,708|Total<br>funds<br>2023<br>£<br>801,708|
|---|---|---|---|---|
||||||



Page 23 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **10. Analysis of expenditure by activities (continued)** 

## **Analysis of direct costs** 

|Staff costs<br>Staff training and welfare<br>Activities expenses<br>Cleaning and laundry<br>Course expenses<br>Domestic services<br>Equipment purchased<br>Instructors<br>Uniform<br>Insurance<br>Light and heat<br>Motor and travel<br>Printing, postage and stationery<br>Rates<br>Depreciation<br>Repairs and maintenance<br>Telephone<br>Sundry expenses<br>Loss on disposal of fixed assets<br>Interest<br>Total 2023|**Activities**<br>**2024**<br>**£**<br>531,946<br>2,609<br>11,965<br>367<br>892<br>53,129<br>4,718<br>1,220<br>1,845<br>21,830<br>41,934<br>1,852<br>2,350<br>6,020<br>44,684<br>561,201<br>7,798<br>1,409<br>-<br>2,560<br>1,300,329<br>779,027|**Total**<br>**funds**<br>**2024**<br>**£**<br>**531,946**<br>**2,609**<br>**11,965**<br>**367**<br>**892**<br>**53,129**<br>**4,718**<br>**1,220**<br>**1,845**<br>**21,830**<br>**41,934**<br>**1,852**<br>**2,350**<br>**6,020**<br>**44,684**<br>**561,201**<br>**7,798**<br>**1,409**<br>**-**<br>**2,560**<br>**1,300,329**<br>779,027|Total<br>funds<br>2023<br>£<br>446,891<br>20,656<br>11,054<br>289<br>2,566<br>48,059<br>3,329<br>1,208<br>1,380<br>16,434<br>37,098<br>349<br>2,174<br>6,566<br>43,208<br>104,825<br>5,694<br>957<br>17,118<br>9,172|
|---|---|---|---|
||||779,027|
|||||



Page 24 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **10. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs** 

|Advertising<br>Legal and professional<br>Bank charges<br>Land sale expenses<br>Governance costs<br>Total 2023|**Activities**<br>**2024**<br>**£**<br>1,045<br>72,599<br>953<br>1,370<br>9,292<br>85,259<br>22,681|**Total**<br>**funds**<br>**2024**<br>**£**<br>**1,045**<br>**72,599**<br>**953**<br>**1,370**<br>**9,292**<br>**85,259**<br>22,681|Total<br>funds<br>2023<br>£<br>1,993<br>13<br>942<br>5,678<br>14,055|
|---|---|---|---|
||||22,681|
|||||



Governance costs comprise of audit and independent examiner's fees, please see note 11 below. 

## **11. Auditors'/Independent Examiner's remuneration** 

The auditors remuneration amounts to an auditor fee of £nil (2023 - £9,292), and payroll and tax fees of £3,617 (2023 - £4,455). 

The independent examiners remuneration amounts to a fee of £5,675 (2023 - £NIL). 

## **12. Staff costs** 

|Wages and salaries<br>Social security costs<br>Contribution to defined contribution pension schemes|**2024**<br>**£**<br>**483,660**<br>**37,093**<br>**11,193**<br>**531,946**|2023<br>£<br>413,856<br>28,404<br>4,631|
|---|---|---|
||||
|||446,891|



During the year, the charity incurred severance costs amounting to £25,054 (2023: £NIL) and these were recognised at payment date and fully paid in the year and included in the wages and salaries amount above. 

Page 25 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **12. Staff costs (continued)** 

The average number of persons employed by the company during the year was as follows: 

||**2024**|2023|
|---|---|---|
||**No.**|No.|
|Full and part time staff|**43**|45|



The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|||**2024**|2023|
|---|---|---|---|
|||**No.**|No.|
|In the band £60,001|- £70,000|**1**|-|
|In the band £70,001|- £80,000|**1**|1|



Details of key management personnel can be found on the information page. The total amount of employee benefits (including employer pension contributions and employers national insurance) received by key management personnel for the services to the charity were £257,886 (2023: £228,659). 

## **13. Trustees' remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). 

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL). 

Page 26 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **14. Tangible fixed assets** 

|**Cost or valuation**<br>At 1 January 2024<br>Additions<br>At 31 December 2024<br>**Depreciation**<br>At 1 January 2024<br>Charge for the year<br>At 31 December 2024<br>**Net book value**<br>At 31 December 2024<br>At 31 December 2023|**Freehold**<br>**property,**<br>**meeting hall**<br>**and**<br>**campsite**<br>**£**<br>**2,637,554**<br>**-**<br>**2,637,554**<br>**742,397**<br>**36,890**<br>**779,287**<br>**1,858,267**<br>1,895,157|**Motor**<br>**vehicles**<br>**£**<br>**-**<br>**13,637**<br>**13,637**<br>**-**<br>**3,080**<br>**3,080**<br>**10,557**<br>-|**Fixtures,**<br>**fittings and**<br>**equipment**<br>**£**<br>**342,722**<br>**-**<br>**342,722**<br>**323,053**<br>**4,713**<br>**327,766**<br>**14,956**<br>19,669|**Total**<br>**£**<br>**2,980,276**<br>**13,637**|
|---|---|---|---|---|
|||||**2,993,913**|
|||||**1,065,450**<br>**44,683**|
|||||**1,110,133**|
|||||**1,883,780**|
|||||1,914,826|



The net book value of assets held under finance leases or hire purchase contracts, included above is £nil (2023: £14,158). 

Freehold property with a net book value of £1,851,237 (2023: £1,862,847) have been pledged as security for one other loan (note 18). These assets have restricted title. 

## **15. Fixed asset investments** 

|**Cost or valuation**<br>Transfers between classes<br>At 31 December 2024<br>**Net book value**|**Listed**<br>**investments**<br>**£**<br>**86,619**|
|---|---|
||**86,619**|
|||



At 31 December 2024 

**86,619** 

Page 27 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **15. Fixed asset investments (continued)** 

## **16. Stocks** 

|Catering<br>Finished goods and goods for resale|**2024**<br>**£**<br>**4,434**<br>**3,759**<br>**8,193**|2023<br>£<br>4,434<br>1,858|
|---|---|---|
||||
|||6,292|



## **17. Debtors** 

|**Due within one year**<br>Trade debtors<br>Other debtors<br>Prepayments and accrued income|**2024**<br>**£**<br>**21,781**<br>**9,783**<br>**4,728**<br>**36,292**|2023<br>£<br>9,387<br>2,651<br>5,674|
|---|---|---|
||||
|||17,712|



## **18. Current asset investments** 

|Listed investments<br>Unlisted investments|**2024**<br>**£**<br>**-**<br>**-**<br>**-**|2023<br>£<br>79,858<br>381|
|---|---|---|
||||
|||80,239|



During the year, Lodge Hill Trust Limited reclassified the investments previously held as current asset investments to fixed asset investments. This reclassification reflects a change in the Charity's intention to hold these investments for the long term, rather than for liquidity purposes. 

Page 28 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **19. Creditors: Amounts falling due within one year** 

|Bank loans<br>Other loans<br>Trade creditors<br>Other taxation and social security<br>Obligations under finance lease and hire purchase contracts<br>Other creditors<br>Accruals and deferred income<br>Deferred income at 1 January 2024<br>Resources deferred during the year<br>Amounts released from previous periods|**2024**<br>**£**<br>**12,638**<br>**42,000**<br>**18,102**<br>**11,917**<br>**-**<br>**1,342**<br>**25,044**<br>**111,043**<br>**2024**<br>**£**<br>**15,651**<br>**19,369**<br>**(15,651)**<br>**19,369**|2023<br>£<br>111,650<br>58,000<br>2,203<br>15,406<br>5,122<br>2,704<br>27,931|
|---|---|---|
||||
|||223,016|
|||2023<br>£<br>15,457<br>15,651<br>(15,457)|
||||
|||15,651|



Deferred income comprises of phone mast income £15,201 (2023: £15,201), rental income of £450 (2023: £450) and activities income of £3,718 (2023: £nil). 

## **20. Creditors: Amounts falling due after more than one year** 

|Bank loans<br>Other loans<br>Other creditors|**2024**<br>**£**<br>**5,286**<br>**205,456**<br>**3,698**<br>**214,440**|2023<br>£<br>15,662<br>208,250<br>228|
|---|---|---|
||||
|||224,140|



Other loans of £266,250, included in creditors within one year and falling due after more than one year, are secured by a fixed charge over the freehold property of the Charity. 

Page 29 



**Lodge Hill Trust (A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **21. Statement of funds** 

## **Statement of funds - current year** 

|**Unrestricted**<br>**funds**<br>**Designated funds**<br>Fixed asset fund<br>Continuity reserve<br>LH refurbishment<br>**General funds**<br>General Fund<br>**Total Unrestricted**<br>**funds**<br>**Restricted funds**<br>Tennis court<br>Adapted golf<br>buggy<br>ChallengeU<br>Small restricted<br>fund<br>The Vision Project<br>- Phase 2<br>20th Anniversary<br>We Cycle Too<br>**Total of funds**|**Balance at 1**<br>**January**<br>**2024**<br>**£**<br>**1,914,827**<br>**80,239**<br>**616,014**<br>**2,611,080**<br>**52,604**<br>**2,663,684**<br>**1,838**<br>**2,410**<br>**-**<br>**1,892**<br>**52,776**<br>**5,094**<br>**1,500**<br>**65,510**<br>**2,729,194**|**Income**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**580,287**<br>**580,287**<br>**-**<br>**-**<br>**13,695**<br>**-**<br>**-**<br>**-**<br>**-**<br>**13,695**<br>**593,982**|**Expenditure**<br>**£**<br>**(44,684)**<br>**-**<br>**(524,987)**<br>**(569,671)**<br>**(802,180)**<br>**(1,371,851)**<br>**-**<br>**-**<br>**(13,695)**<br>**(42)**<br>**-**<br>**-**<br>**-**<br>**(13,737)**<br>**(1,385,588)**|**Transfers**<br>**in/out**<br>**£**<br>**13,637**<br>**-**<br>**-**<br>**13,637**<br>**(13,637)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|**Gains/**<br>**(Losses)**<br>**£**<br>**-**<br>**6,380**<br>**-**<br>**6,380**<br>**-**<br>**6,380**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**6,380**|**Balance at**<br>**31**<br>**December**<br>**2024**<br>**£**<br>**1,883,780**<br>**86,619**<br>**91,027**<br>**2,061,426**<br>**(182,926)**<br>**1,878,500**<br>**1,838**<br>**2,410**<br>**-**<br>**1,850**<br>**52,776**<br>**5,094**<br>**1,500**<br>**65,468**<br>**1,943,968**|
|---|---|---|---|---|---|---|



Page 30 



**Lodge Hill Trust (A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **21. Statement of funds (continued)** 

## **Designated funds:** 

The fixed asset fund is not readily available to spend, it is the balance of the fixed assets' value. 

The designated continuity reserve is set aside by trustees from previous surpluses and is held in the form of current asset investments. The fund is available to cover working capital requirements in deficit periods and enable continuity of service during the implementation of changes required to return to operational surplus. 

LH refurbishment are funds from the proceeds of the land sale for the ongoing, upgrading, maintenance and refurbishment of the Lodge Hill site. This fund was previously restricted but the income from the sale of land has no restrictions attached so therefore the fund has been transferred to designated. 

## **General funds:** 

The trustees have considered the deficit in the general fund and consider this to be temporary, and have therefore not considered it necessary to draw down on the continuity fund. The trustees will review this position in future years, should the situation change. 

## **Restricted funds:** 

Tennis court - funds received to cover the costs of building and maintaining the tennis court. 

Golf buggy - funds received toward the costs of an adapted golf buggy which will be purchased once sufficient funds have been raised. 

ChallengeU funds - received to cover certain staffing costs of the ChallengeU project. 

The Vision Project - funds received in relation to the refurbishment and extension of the kitchen, dining and residential facilities in order to accommodate the increasingly larger groups wishing to visit Lodge Hill. Funds were received from many donors, including but not limited to: Individual donations, Garfield Weston, Bradbury Foundation, ACT Foundation, Ernest Kleinwort Charitable Trust, Edward Gosling Foundation, Foyle Foundation, Hobsons Charity, Beatrice Laing Foundation and Bassil Shippham and Alsford Trust. Upon expenditure of the restricted income received into this fund, on capital items within the restriction, the fund balance is transferred to the designated fixed asset fund, as it is no longer available for expenditure. 

20th Anniversary - Lodge Hill has successfully raised funds to install a bespoke disability suite with adjacent carers bedroom and en-suite on the ground floor of Hardwick Hall. Lodge Hill now needs to raise £3,000 for soft furnishings, an intercom system and equipment to make the suite comfortable and homely for future visitors. 

We Cycle Too - This donation was made to maintain the Disability Bikes which were gifted to Lodge Hill in 2018. 

Page 31 



**Lodge Hill Trust (A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

**21. Statement of funds (continued)** 

**Statement of funds - prior year** 

|**Unrestricted**<br>**funds**<br>**Designated**<br>**funds**<br>Fixed asset fund<br>Continuity<br>reserve<br>LH<br>refurbishment<br>**General funds**<br>General Fund<br>**Total**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>Tennis court<br>Adapted golf<br>buggy<br>ChallengeU<br>Small restricted<br>fund<br>The Vision<br>Project - Phase<br>2<br>20th Anniversary<br>We Cycle Too<br>LH<br>Refurbishment|Balance at<br>1 January<br>2023<br>£<br>1,975,153<br>73,130<br>-<br>2,048,283<br>59,062<br>2,107,345<br>1,838<br>2,410<br>1,840<br>2,575<br>53,076<br>5,094<br>1,500<br>(59,816)<br>8,517|Income<br>£<br>-<br>-<br>767,494<br>767,494<br>621,087<br>1,388,581<br>-<br>-<br>19,350<br>-<br>-<br>-<br>-<br>-<br>19,350|Expenditure<br>£<br>(60,326)<br>-<br>(91,664)<br>(151,990)<br>(627,545)<br>(779,535)<br>-<br>-<br>(21,190)<br>(683)<br>(300)<br>-<br>-<br>-<br>(22,173)|Transfers<br>in/out<br>£<br>-<br>-<br>(59,816)<br>(59,816)<br>-<br>(59,816)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>59,816<br>59,816|Gains/<br>(Losses)<br>£<br>-<br>7,109<br>-<br>7,109<br>-<br>7,109<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|Balance at<br>31<br>December<br>2023<br>£<br>1,914,827<br>80,239<br>616,014|
|---|---|---|---|---|---|---|
|||||||2,611,080|
|||||||52,604|
|||||||2,663,684|
|||||||1,838<br>2,410<br>-<br>1,892<br>52,776<br>5,094<br>1,500<br>-|
|||||||65,510|



Page 32 



**Lodge Hill Trust (A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **21. Statement of funds (continued)** 

|**Total of funds**|2,115,862|1,407,931|(801,708)|-|7,109|2,729,194|
|---|---|---|---|---|---|---|



## **22. Analysis of net assets between funds** 

## **Analysis of net assets between funds - current period** 

|**Unrestricted**<br>**funds**<br>**2024**<br>**£**<br>Tangible fixed assets<br>1,883,780<br>Current assets<br>320,203<br>Creditors due within one year<br>(227,749)<br>Creditors due in more than one year<br>(97,734)<br>**Total**<br>1,878,500<br>**Analysis of net assets between funds - prior period**<br>Unrestricted<br>funds<br>2023<br>£<br>Tangible fixed assets<br>1,914,826<br>Current assets<br>1,196,014<br>Creditors due within one year<br>(223,016)<br>Creditors due in more than one year<br>(224,140)<br>**Total**<br>2,663,684|**Restricted**<br>**funds**<br>**2024**<br>**£**<br>-<br>65,468<br>-<br>-<br>65,468<br>Restricted<br>funds<br>2023<br>£<br>-<br>65,510<br>-<br>-<br>65,510|**Total**<br>**funds**<br>**2024**<br>**£**<br>**1,883,780**<br>**385,671**<br>**(227,749)**<br>**(97,734)**|
|---|---|---|
|||**1,943,968**|
|||Total<br>funds<br>2023<br>£<br>1,914,826<br>1,261,524<br>(223,016)<br>(224,140)|
|||2,729,194|



Page 33 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **23. Reconciliation of net movement in funds to net cash flow from operating activities** 

|Net income/expenditure for the period (as per Statement<br>Activities)<br>**Adjustments for:**<br>Depreciation charges<br>(Gains)/losses on investments<br>Dividends, interests and rents from investments<br>Gain on the sale of fixed assets<br>Decrease/(increase) in stocks<br>Decrease/(increase) in debtors<br>Increase/(decrease) in creditors<br>**Net cash used in operating activities**<br>**24.**<br>**Analysis of cash and cash equivalents**<br>Cash in hand<br>**Total cash and cash equivalents**<br>**25.**<br>**Analysis of changes in net debt**<br>**At 1**<br>**January**<br>**2024**<br>**Cash flows**<br>**£**<br>**£**<br>Cash at bank and in hand<br>**1,157,281**<br>**(902,714)**<br>Debt due within 1 year<br>**(169,650)**<br>**115,012**<br>Debt due after 1 year<br>**(223,912)**<br>**13,170**<br>Finance leases<br>**(5,122)**<br>**-**<br>Liquid investments<br>**80,239**<br>**6,380**<br>**838,836**<br>**(768,152)**|of Financial<br>**Finance**<br>**leases**<br>**£**<br>**-**<br>**-**<br>**-**<br>**5,122**<br>**-**<br>**5,122**|**2024**<br>**£**<br>**(785,226)**<br>**44,683**<br>**(6,380)**<br>**(19,119)**<br>**-**<br>**(1,901)**<br>**(18,580)**<br>**(121,673)**<br>**(908,196)**<br>**2024**<br>**£**<br>**254,567**<br>**254,567**<br>**Other non-**<br>**cash**<br>**changes**<br>**£**<br>**-**<br>**-**<br>**-**<br>**-**<br>**(86,619)**<br>**(86,619)**|2023<br>£<br>613,332<br>43,208<br>(7,109)<br>(8,180)<br>(1,016,626)<br>(1,105)<br>5,045<br>257,961<br>(113,474)<br>2023<br>£<br>1,157,281<br>1,157,281<br>**At 31**<br>**December**<br>**2024**<br>**£**<br>**254,567**<br>**(54,638)**<br>**(210,742)**<br>**-**<br>**-**<br>**(10,813)**|
|---|---|---|---|



Page 34 



**Lodge Hill Trust (A company limited by guarantee)** 

**Notes to the financial statements For the year ended 31 December 2024** 

## **26. Pension commitments** 

## **Defined contribution scheme:** 

For current employees, Lodge Hill Trust operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension costs charged to the statement of financial activities represents contributions payable by the charity to the fund and amounted to £6,169 (2023: £5,291). There were outstanding contributions at the balance sheet date of £nil. (2023: £nil). 

## **Multi employer defined benefit pension scheme:** 

For certain former employees, Lodge Hill Trust participates in The Pensions Trust's Growth Plan (the Plan). The Plan is funded and is not contracted out of the state scheme. The Plan is a multi employer defined pension plan. The charity's eligible employees are auto enrolled into the pension scheme with The Pensions Trust. 

The Plan is a multi employer scheme where the plan assets are co-mingled for investment purposes, and benefits are paid from the total Plan assets. It is not possible in the normal course of events to identify on a reasonable and consistent basis the share of the underlying assets and liabilities belonging to the individual participating employers. Due to the nature of the Plan, the accounting charge for the year under FRS102 represents the employer contribution payable. 

The rules of the Plan give the Trustees the power to require employers to pay additional contributions in order to ensure that the statutory funding objective under the Pensions Act 2004 is met. The statutory funding objective is that a pension scheme should have sufficient assets to meet its past service liabilities, known as technical provisions. 

If the actuarial valuation reveals a deficit, the Trustees will agree a recovery plan to eliminate the deficit over a specified period of time either by way of additional contributions from employers, investment returns or a combination of these. 

The rules of the Plan state that the proportion of obligatory contributions to be borne by the member and the member's employer shall be determined by agreement between them. Such agreement shall require the employer to pay part of such contributions and may provide that the employer shall pay the whole of them. 

The total employer contribution made for the year ended 31 December 2024 was £1,940 (2023: £1,910). The agreed normal contribution rates for future years are 3% for the employer and 5% for the employees. At the year end there were outstanding contributions of £nil (2023: £nil). As at the balance sheet date there were 0 active members of the Plan employed by Lodge Hill Trust. 

Actuarial valuations are carried out every three years for funding purposes using the projected unit method. The funding position is calculated by comparing the assets with the past service liabilities as at the valuation date. Asset values are calculated by reference to market levels. Accrued past service liabilities are valued by discounting expected future benefit payments using a discount rate calculated by reference to the expected future investment returns. 

The most recent valuation available results are as at 30 September 2023. The market value of the Plan's assets at the valuation date was £515 million and the Plan's Technical Provisions (i.e. past service liabilities) were £531 million. The valuation therefore revealed a shortfall of assets compared with the value of liabilities of £16 million, equivalent to a funding level of 97%. 

Regulations require the Trustee to set a prudent basis for valuing the Scheme's benefits, taking into account the strength of the employers' covenant and the Scheme Actuary's advice. The Trustee is also required to consult with employers or their representative. The Growth Plan Employer Consultative Group (GPECG), which acts as the employers' representative for the purposes of Scheme funding, have been consulted on the valuation basis and assumptions. The value of the liabilities on this on going basis is 

Page 35 



**Lodge Hill Trust (A company limited by guarantee)** 

## **Notes to the financial statements For the year ended 31 December 2024** 

## **26. Pension commitments (continued)** 

known as the Technical Provisions. 

Where a Scheme's assets are less than the Technical Provisions a recovery plan must be put in place to show how the deficit can be eliminated over a fixed period. The recovery plan must be submitted to The Pensions Regulator who may investigate schemes and require changes where the Technical Provisions are set at too low a level or where the recovery period is too long. The recovery plan for the Growth Plan aims to eliminate the deficit via a combination of additional contributions from employers and investment returns. The results of the 30 September 2023 valuation showed the deficit contributions are due to end on 31 March 2028. 

Under FRS 102 the amount of additional contributions for Lodge Hill Trust in the period to 31 January 2028 have been included as a liability in the accounts. 

## **27. Related party transactions** 

There were no transactions with related parties in the year (2023: £nil). 

## **28. Controlling party** 

The company is controlled on a day to day basis by the trustees who are directors of the company. 

## **29. Supporters of Lodge Hill** 

The Supporters of Lodge Hill is a separate charity (registration number 10872569) that supports the work of Lodge Hill. It has its own constitution and trustees. 

Page 36