2020-10-31-accounts

Charity Registration No. 1089771 Company Registratlon No. 04210261 (England and Wales)

THE FAIRYLAND TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

THE FAIRYLAND TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Jane Vaus
	StuartAdams
	GlynisAdams
Secretary	SarahWise
Charity number	1089771
Company number	04210261
Princlpal address	12 Jolly Sailor Yard
	Wells-next-the-sea
	Norfolk
	NR23 1LA
	48 King Street
	Kings Lynn
	Norfolk
	PE30 1HE
Independent examiner	Mapus-Smith & Lemmon LLP
	48 King Street
	King's Lynn
	Norfolk
	PE301HE

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THE FAIRYLAND TRUST

CONTENTS

	Page
Trustees’ report	1-2
Independent examiner's report	3
Statement of financial activities	4
Balancesheet	5
Notestotheaccounts	6-11

THE FAIRYLAND TRUST

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 OCTOBER 2020

The trustees present their report and financial statements for the year ended 31 October 2020.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016)

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.

Objectives and activities

The Charity was founded on 12 December 2001. The Governing Instruments under which the charity operates is the declaration of trust, and policies made from time to time by the trustees. The company is a reglstered charity (Charity Number 1089771). It is a limited company registered in England and Wales and is limited by guarantee and has no share capital. The company registration number is 04210261.

The charity's objects are to advance the education of children and young persons in the conservation of the environment, in particular the conservation of woodland and other natural wildlife habitats. The policies adopted in furtherance of these objects are to help children and young persons through lelsure time activities to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achlevements and performance

Financlal review

The attached documents demonstrate in financial terms the activities of the charity for the past year. As can be seen the Charity has a deficit in the year of £1,723 compared to a deficit of £7,935 In 2019. The direct charitable expenditure Is mostly met with a combination of workshop fees and cash taken at the falrs.

In 2020 the Charity could not run the Real Halloween Event and the fairy fair due to Covid 19 restrictions. The Charity continued to deliver it's charltable objectives by running workshops online and appealed for donations to generate income.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s standard running expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

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THE FAIRYLAND TRUST

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 OCTOBER 2020

Structure, governance and management

The charity is a company limited by guarantee and does not have share capital.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Jane Vaus

Stuart Adams

Glynis Adams

New trustees, being qualified by experience, are appointed by recommendation of the current trustees, or by proposal of a current trustee entitled to vote at a meeting of the charity.

None of the trustees has any beneficial interest In the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees’ report was approved by the Board of Trustees.

Stuart[7 TrusteeDated: VEA fe/ Zz

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THE FAIRYLAND TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE FAIRYLAND TRUST

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|report to the trustees on my examination of the financial statements of The Fairyland Trust (the charity) for the year ended 31 October 2020.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

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

Independent examiner's statement

• | have completed my examination. | confirm that no matters have come to my attention in connection with

• the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or 3 theotherfinancial than anystatements requirementdo thatnot comply the accountswith the giveaccounting a true andrequirements fair view whichof sectionis not a396 matterof the considered2006 Act as part of an independent examination; or

• 4 the financial statements 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).

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| 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 financial statements to be reached. Mapus-Smitha

48 King Street King's Lynn Norfolk PE30 1HE

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ee
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Dated: AS. A AOA

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THE FAIRYLAND TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 OCTOBER 2020

		Unrestricted	Restricted	Total	Total
		funds	funds	2020	2019
	Notes	£	£	£	£
Income from: Charitable activities	2	31,312	-	31,312	53,147
Expenditure on; Charitable activities	3	33,030	5	33,035	61,082
Net expenditure forthe year/
Net movement in funds		(1,718)	(5)	(1,723)	(7,935)
Fund balances at 1 November2019		(2,154)	7,529	5,375	13,309
Fundbalancesat31October2020		(3,872)	7,524	3,652	5,374

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

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THE FAIRYLAND TRUST

BALANCE SHEET AS AT 31 OCTOBER 2020

		2020		2019
	Notes	£	£	£	£
Fixed assets
Tangible assets	6		130		173
Current assets
Stocks	7	2,225		2,225
Debtors	8	1,586		4,590
Cash at bank and in hand		6,461		5,136
		10,272		41,951
Creditors: amounts falling due within
one year	10	(1,750)		(6,750)
Net currentassets			8,522		5,201
Total assets less current liabllitles			8,652		5,374
Creditors: amounts falling due after more thanoneyear	11		(5,000)		-
Net assets			3,652		5,374
Income funds
Restricted funds			7,524		7,528
Unrestricted funds			(3,872)		(2,154)
			3,652		5,374

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including Its Income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with sectlon 476.

These financial statements have been prepared In accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees lL. /

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Stuart Adams
Trustee
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Company Registration No. 04210261

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THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020

• 1 Accounting pollcles

Charity Information

The Falryland Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 48 King Street, Kings Lynn, Norfolk, PE30 1HE.

1.1 Accounting convention The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)’ (as amended for accounting periods commencing from 1 January 2016), The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

• 1.2 Charltable funds

• Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

• 1.3 Incoming resources

Income is recognised when the charity is legally entitled to It after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Interest Is Included when recelved by the charity.

1.4 Resources expended Expenditure is recognised whena liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the

• Costs of generating funds are those costs incurred in trading activities that raise funds.

• » Governance costs include those incurred in the govemance of the charity and its assets and are primarily associated with the constitutional and statutory requirements.

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THE FAIRYLAND TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

• 1 Accounting policies

(Continued)

1.5 Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Shed - 25% reducing balance basis Computer equipment - 25% reducing balance basis Other - 25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and Is recognised in net Income/(expenditure) for the year.

1.6 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to thelr present location and conditlon. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

• 1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

• 1.8 Investments investments are reflected in the accounts at their current market value.

1.9 Taxation The company is a registered charity and qualifies for relief from corporation tax under Taxes Act 1988, Section 505. Consequently, no tax liabilities arises.

• 2 Charitable activities

	2020	2019
	£	£
Gift ald donations	18,838	12,619
Gift aid refund	633	680
Event income	9,246	30,799
Bank interest received	8	17
Workshop fees	2,587	9,032
	31,312	53,147

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THE FAIRYLAND TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

3 Charttable activitles

	2020	2019
	£	£
Depreciatlon (restricted and unrestricted)	43	58
Event costs and materials	20,705	33,915
Storage rent	3,976	3,167
Workshop costs	2,419	7,462
Workshop materials	635	3,228
Training costs	60	380
General fundraising costs	1,014	5,085
Public liabllity insurance	670	814
Stationary, postage and administration	1,659	1,532
Travelling and subsistance	803	2,834
Accountancy	1,051	2,161
Sundryexpenses	-	356
Fairymeadowfund (restricted)	~	90
	33,035	61,082
	33,035	61,082
Analysis byfund
Unrestricted funds	33,030
Restricted funds	5
	33,035
For the yearended 31 October2019
Unrestricted funds		60,985
Restricted funds		97
		61,082

4 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

5 Employees

There were no employees during the year.

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THE FAIRYLAND TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

6	Tanglble fixed assets
		Shed	Computer	Other	Total
			equipment
		£	£	£	£
	Cost
	At1November2019	900	211	20,450	21,561
	At 31 October2020	900	211	20,450	21,561
	Depreclation and impairment
	At1November2019	893	210	20,285	21,388
	Depreclation charged in the year	2	-	4	43
	At 31 October2020	895	210	20,326	21,431
	Carrying amount
	At 31 October2020	5	1	124	130
	At 31 October2019	7	1	165	173
7	Stocks			2020	2019
				£	£
	Stock			2,225	2,225
8	Debtors
				2020	2019
	Amounts falllng due within one year:			£	£
	Trade debtors			611	2,945
	Prepayments and accrued income			975	4,645
				1,586	4,590
9	Loans and overdrafts
				2020	2019
				£	£
	Otherloans			5,000	5,000
	Payable within one year			-	5,000
	Payableafteroneyear			5,000	-

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THE FAIRYLAND TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2020

10	Creditors: amounts falllng due within	one year
						2020	2019
						£	£
	Borrowings					-	5,000
	Accruals and deferred income					1,750	1,750
						1,750	6,750
11.	Creditors: amounts falling due after more than one			year
						2020	2019
						£	£
	Borrowings					5,000	-
12.	Analysis of netassets between funds
				Unrestricted			Total
					funds
					£		£
	Fund balances at 31 October 2020 are represented by:
	Tangible assets				130		130
	Current assets/(liabilities) Longtemfiabilities				8,522 (5,000) 3,652		8,522 (5,000) 3,652
13	Statement ofmovement In funds
		At 31					At 31
	October		Incoming		Outgoing		October
		2018	Resources		Resources	Transfer	2019
	Restricted funds:
	Shed, tents and domes	7,625		-	(97)	-	7,528
	Total restricted funds	7,625		-	(97)	-	7,528
	Unrestricted funds:
	General funds	5,684		53,147	(60,985)		(2,154)
	Totalunrestrictedfunds	5,684		53,147	(60,985)	-	(2,154)

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THE FAIRYLAND TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2020

14	Analysis ofchanges In netfunds
		At	1 November	Cash flows	At31 October
			2019		2020
			£	£	£
	Cash at bank and in hand		5,136	1,325	6,461
	Loans falling due within oneyear		(5,000)	5,000	-
	Loans falling due aftermore than one year		-	(5,000)	(5,000)
			136	1,325	1,461

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