Charlty reglslratlon number 1089771 Company reglstratlon number 04210261 (England and Wales) THE FAIRYLAND TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023
THE FAIRYLAND TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Jane Vaus StuartAdams Glynis Adams Secratary Sarah Wise Charfty number 1089771 Company number 04210261 Prlnclpal addr888 12 Jolly Sailor Yard Wells-n8xt-th8-S88 Norfolk NR23 1LA Independent examlner Mapus-smith & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE
THE FAIRYLAND TRUST CONTENTS Page Trustees, report Independent examiner's report St8ternenl of financial activities B81ance sheet Notes to the accounts 7-12
THE FAIRYLAND TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE PERIOD ENDED 31 DECEMBER 2023 Th8 trustees present their annual rèport and fin8ncial sta18mènts for the period end&d 31 December 2023. The accounts have been prepared in accordanc8 Wlth the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, lh8 Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommend8d Practice 8pplicab18 lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicabl8 in the UK and Republic of Ireland IFRS 1021" (as amend8d for accounting periods commenclng from 1 January 20161 The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them lo ascertain the financial position of the charity and which enable them lo ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the ass81s of the charity and hence for taking reasonab18 steps for the prevention and detection of fraud and other irregularities. Objectives and activities The Charity was founded on 12 December 2001. Th& Governing Instruments under which the charity operal8S IS the declaration of trust, and policies made from time to lime by the trustees. The company is a registered charity (Charity Number 1089771 }. It is a limited company registered in England and Wales and Is limited by guarantee and has no share capitsl. The company r8gistration nurnber is 04210261. The charity's objecls are lo adv8n¢e the education of children and young persons in the conservation of the ènvlronment, in particular the conseNation of woodland and other natural wildlife habilals. The policies adopted in furtherance of these objects are lo help children and young persons through leisure lime activities to develop their physical, mental and spiritU81 capacities that they may grow to full m81urily as individuals and members of society. From Novèmber 31st 2022 to 31st December 2023 the Fairyland Trust continued its work to further ils charitable objectives of engaging young people and families in nature by holdlng 8 Fairy Fair Sn May23, and The Real Halloween in Oclob8r23, running natur8 workshops and associat8d aclivilies. During this period th8 Trust also ended use of ils ren18d stores at New Farm in Wells next the Sea and look on a new unit at Abbey Fami, West Acre, which is near to the 8vent slle at Bradmoor Woods. This improved the sustainability of the operallons and ncurr8d extra cosls in rebuilding and ouffitting the unit intedor. The trustees have p8id due regard lo guSdanc8 issued by the Ch8rtty Commission in deciding what activities the charity should und8rt8ke. Achlevements and performanco Flnanclal revlow The attached documents demonstrate in financial terms th9 aclivilies of th8 charity for the past year. As can be seen the Charity has a deficit in the year of £2,799 compared to a surplus of £5,655 in 2022. The direct charitable expenditure is mostiy met with a combination of workshop fees and cash taken at the fairs. It is the policy of the charity that unrestricl8d funds which have not been designated for a specific use should be maintained al a level 8quivalent to between three and six month's stsndard 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 charily'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 period. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks.
THE FAIRYLAND TRUST TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE PERIOD ENDED 31 DECEMBER 2023 Structure, governanco and management The charity is a company limtted by guarantee and does not have share capital. The Irust8es, who are also the directors for the purpos8 of company law, and who served during the period and up to the date of signature of the financi81 statements were.. Jane Vaus StuartAdams Glynis Adams New trustees, being qualified by experience, are appointed by recDmmendation of the current truslees, or by proposal of a current trustee entiued lo vote at a me8ting of the Gharity. None of the Irustees has any beneficial interest in the company. All of the truslees are members of the company and guarante8 to contribute £1 in the event of a winding up. The trustees, report was approvèd by the Board of Trustees. Stuart Adam8 Trustee Dated: ..J.fP./7./to.....
THE FAIRYLAND TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FAIRYLAND TRUST I raport to the tnjstees on my examinatlon of the financial statements of The Fairyland Trust Ilhe charity) for th6 period 8nd8d 31 D8cember 2023. Responslbllltles and basls of report As the trustees of Ihe charity land also its directors for Ihe purposes of company lawl you are responsible for the preparation of the financial statgmenls In accordance with the requirements of the Companies Act 2006 (the 2006 Acl}. Having satisfied myself that the financial statements of the charity are not r8quired to b8 audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slalements carried out under section 145 of th8 Chariti8s Act 2011 Ilhe 2011 Act). In carrying out my examination I have followed all thè applicabl8 Directions given by th8 Charity Commission under section 14515)(b} of th8 2011 Act. Independent oxamlnerfs Statement I have completed my examination. I confirm that no matters have come to my attention in connection wlth th8 examination giving me caus8 to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or th8 financial sta18ments do not accord wlth those r8cords,' or the financial statements do not comply with the a¢counling rèquirements of $8Ction 396 of the 2006 Act other than any requlr8ment that th8 accounts giv8 a true and fair vl8w which is not a matter consldered as part of an Independent examinatlon., or the financial statements havé not been prepared in accordance with the methods and principlas of the Statement of Recommended Practice for accounting and reporting by Charities applicable to charit18S preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 102}. I have no Goncerns and have come across no other matters In connectlon with the examination to which attention should be drawn in this report in order to 8nable a proper understanding of the financial slatements lo b8 reached. ljlapus-smith & Lemmon LLP 48 King Street Klng's Lynn Norfolk PE30 1HE Dated.. i?15114
THE FAIRYLAND TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 DECEMBER 2023 Unrestrlcted Restricted funds funds Total 2023 Total 2022 Notes Incom frorn: Charitable activities 95,924 95,924 83,486 endlture on.. Charitable activities 98.221 98,223 77,831 Net (expenditurellincome for thè yearl Net movement in funds 12,2971 (2) (2.2991 5,655 Fund balances at 1 November 2022 91 7,517 7,608 1,953 Fund balance8 at 31 December 2023 (2,206) 7,515 5,309 7,608 The statement of fln8nci818Ctivltles Includes all gains and Ioss88 rOgnISed In th8 period.
THE FAIRYLAND TRUST BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets 53 74 Current assets Stocks Debtors Cash al bank and in hand 2,000 1,585 3,421 1,500 15,592 11,947 7,006 29,039 Credltors: amounts falllng due within one year 10 11,750) 121,5051 Net current assets 5,256 7,534 Total a$$ets les$ ¢urrent Ilabllltles 5,309 7,608 Income funds Restrict8d funds Unrestricted funds 11 7,515 12,206) 7,517 91 5,309 7,608 Company registration number 04210261
THE FAIRYLAND TRUST BALANCE SHEET (CONTINUED) ASAT 31 DECEMBER 2023 Th& company is entilled to the exemption from the audit r8quir8ment contained in section 477 of the Companies Act 2006, for the period ended 31 Decembar 2023. The dlrectors acknowledge their responsibilities for complylng wllh the requir8ments of th9 Companies Act 2006 with respect to accounting r8cord5 and the preparation of financial statem8nts. The members have not required the company to obtsln an audit of its financial stslements for the period in queslion in accordance with section 476. These flnanclal statements hav8 been prepared In accordance wlth the provislons applicable to companlès subl8ct to the small companies regime. Thè financial statements were approved by the Truslees on SIu8rt Adams Trustoe Company reglstrat5on numbor 04210281
THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Accounting policles Charfty Infomiatlon The Fairyland Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 48 King Street. Kings Lynn, Norfolk, PE30 1 HE. 1.1 Accountlng conventlon The accounts have been prepared in accordance with th8 charity's govèrning 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 IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements ar8 prepar8d In sterling, which is the functional currency of th8 charity. Monetsry amounts in these financial ststemenls are rounded lo the nearest £. The financial slatements have been prepared under the historlcal cost convention. The principal accounting policies adopt8d ar8 set out below. 1.2 Charllable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restri¢ted funds are subject to specific conditions by donors or granlors as to how they may be us8d. The purpos8s and uses of the restricted funds 8r8 set out In th8 notes to the financial statements. 1.3 Incomlng resources Income is recognised when the charity is legally entitled to il after any performance condilions have been met, the 8mount$ ¢an be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the ch8rlty h8s been notified of the donation, un18SS P8rformanc8 conditions require deferral of the amount. Incom8 tax recov8rable In relation to donations received under Gift Aid or dèeds of covenant is recognised at the time of the donation. Interest is included when recelv8d by the charity. 1.4 Resources expended Expenditur8 Is recognlsed once there is a18gal or constructSve obllgation to transfer economic benefit to third party, it is probable that a transfer of economic benefits will be required in settlement, and the amounl of the obligation can be measured reliably. Expenditure is classified by activity. Th& 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 contribule 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 stsff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure is recognised when 8 liability is incurred. Contractual arrangements and perfom)8nce related grants are recognis8d as goods or services are supplied. Other grant payments are recognised when a Constructive obligation arises thal results in the Costs of generating funds are those costs incurr8d in trading activities that raise funds. Govemanc8 Costs include those incurred in the governance of the charlty and Its assets and are primanly associated with the constitutional and slatutory requirements.
THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Accounting policies (Contlnued) 1.5 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation 8nd any impairment losses. Depreciation is recognised so as to write off the cost or valuation of ass8ts less their residual valuas over their useful lives Dn the following bases.. Shed Computer equipment Other 25010 reducing balance basls 25010 reducing balance basis 250h reducing balance basis The gain or loss arising on thg disposal of an asset is detem)ined as th8 dlff&ren¢e b8tWgen the sale proceeds and the carying valu8 of the asset, and is recognised in the statement of financial activiti8s. 1.6 Stocks Stocks are slated at the lower of Cost and estimated selling pric8 18SS Costs lo comp18t8 and sèll. Cost comprises dlrect materlals and, where appllcable, direct 18bour costs and those overheads that have been incurred in bringing the stocks lo th8ir pr8S8nl location and condition. Items held for distribution at no or nominal conslderation are measured the lower of replacement cost and cost. N8t realisab18 value Is the estimated selling price l@ss all 8Stlma18d costs of ¢ompletion and costs to be incurred in marketing, selling and distribution. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposlts held at call with banks, other short-term liquid investm8nls with original maturities of three months or less, and bank overdraft5. 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 rnrporalion tsx under Taxes Act 1988, Section 505. Consequently, no tax liabilities arises. Charltable actlvltles 2023 2022 Gift aid donalions Event income Workshop fees Merchandise 18,743 71.637 5.146 398 22,339 56,600 4,547 95,924 83,486
THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 CharStable activities 2023 2022 Depreciation (restricted and unrestricted) Event costs and malerials Storage rent Workshop costs Workshop materials Training costs General fundraising costs Stationary, postage and administration Travelling and subsistance Accountancy Other charitable expendlture 21 64,193 7,890 5,681 5,821 550 146 5,916 3,238 1,693 3,074 24 51,834 2,558 6,604 1,850 683 597 5,949 1,574 1,260 4,898 98,223 77,831 98,223 77,831 Tru8t8eS None of the trustees lor any p8rs0ns conn8ci8d with them) received 8ny remuneration or benefits from th8 charity during the period. Employees Th8 av8rage monthly number of employe95 during the period was.. 2023- Number 2022 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel is as follows. Taxation Th8 charity Is 8xempt from taxation on its activities because all its income is appli8d for charitable purposes.
THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 Tangible fixed assets Shgd Computer equipment Oth•r Totsl Cost At 1 November 2022 900 211 20,450 21,561 At 31 December 2023 900 211 20,450 21,561 Depreclat5on and Impalnnent At 1 November 2022 Depreciation charged in the period 897 210 20,380 20 21,487 21 At 31 December 2023 898 210 20,400 21,508 Carrylng amount At 31 December 2023 50 53 At 31 Oclob8r 2022 70 74 Stocks 2023 2022 Stock 2,000 1,500 Debtors 2023 2022 Amctyunts falling duo withln one year: Trade debtors Prepayments and accrued income 610 975 14,461 1,131 1,585 15.592 10 Credltors: amounts falling due withln one year 2023 2022 Trade creditors Accruals and deferred income 19,755 1,750 1,750 1,750 21,505 10
THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 11 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may b8 usad. At1 November 2022 Resources expended At31 Decembèr 2023 7,517 (2} 7,515 Prevlous year: At1 November 2021 Resources At 31 October expgndod 2022 7.520 13) 7,517 12 Unrestricted funds The unrestricted funds of the charity comprlse the unexpended balances of donations and grants which are not subject to specific Gonditions by donors and grantots as to how they may be used. These includè designaled funds which h8ve been set aside out of unrestricted funds by the trustees for specific purposes. At1 November 2022 Incomlng resources Resources expended At31 December 2023 General funds 91 95,924 {98,221 } 12,206) Prevloug yoar: Incomlng resources Resources At 31 October expended 2022 November 2021 G8n8ral funds (5,5671 83,486 177,828) 91 13 Analysls of net assets between funds Unrestrlcted funds Total Fund balances at 31 December 2023 are represented by.. Tangible assets Current assetsl(liabilities) 53 5,256 53 5.256 5,309 5,309 11
THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2023 14 Statement of movement In funds At31 Oclober Incomlng 2021 Resources At31 October 2022 OutgoSng Resources Transfer Restricted funds.. Shed. tents and domes 7,520 (3) 7,517 Total r8Strict8d funds 7,520 (3) 7,517 Unrestrict8d funds,. G@n8ral funds (5,567) 83,486 (77,828) 91 Total unrestricted funds (5,567) 83,486 177,828) 91 15 Analysls of changes In net funds The charity had no material debt during the yéar. 12