> CharteredMapus-SmithAccountants a Lembytftl? Charity registration number 1089771 Company registration number 04210261 (England and Wales) ## THE FAIRYLAND TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 THE FAIRYLAND TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Jane Vaus Stuart Adams Glynis Adams Secretary Sarah Wise Charity numb8r 1089771 Company number 04210261 Prlncipal address 12 Jolly Sailor Yard Wells-next-the-sea Norfolk NR23 1LA Independent examiner Mapus-smilh & Lemmon LLP 48 King Street King's Lynn Norfolk PE30 1HE THE FAIRYLAND TRUST ## CONTENTS ||Page| |---|---| |Trustees’ report|1-2| |Independent examiner's report|3| |Statement offinancial activities|4| |Balance sheet|5-6| |Notestotheaccounts|7-12| THE FAIRYLAND TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial slatam8nts for the year ended 31 December 2024. The accounts have b88n prepared in accordance wllh 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 Ih&ir 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 20161 The trustees are responsibla for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them lo ascerlain 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 actlvllles The Charity was founded on 12 December 2001. The Governing Inslrum8nls under which the charity operates is the declaration of trust, and policies made from time to time by the trustees. The company is a registered charity (Charity Number 1089771). It is a limited company registered in England and Wales and is limiled 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 leisure lime activities to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of soclely. From 1st Janaury 2024 to 31 sl December 2024 the Falryland Trust continued its work to further its charitable objectSves of engaging young people and families in nature by holding a Fairy Fair in May24, and The Real Halloween in October24, running nature workshops and associated activllies. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what aclivities the charity should undertake. Achlevements and performance Flnanclal revlew The attached documents demonstrate In financial terms the activities of the charity for the past year. As can be seen the Charity has a surplus in the year of £1,654 compared lo a deficit of £2,799 in 2023. The direct charitable expenditure is mostly met with a combinalion of workshop f88s and cash taken al the fairs. It is Ihe policy of the charity that unrestricted funds which have not been designated for a specific use should be mainlained al a level equivalent to bètween three and six month's slandard running 8xpenditur8. The trustees considers that reserves at this level will ensure that, in the evenl 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 be8n maintained throughout the year. The trustees have assessed the major risks to which the charity is exposed, and are satisfied thal systems are in place to mitigate exposure to the major risks. THE FAIRYLAND TRUST TRUSTEES. REPORT {CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 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 purposa of company law, and who served during the year and up to the date of signature of the financial statements were.. Jane Vaus StuartAdams Glynis Adams New Iruslees, 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 beneflcial inlerest in the company. All of the trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. The trustees, report was approved by the Board of Trustees. Stuart Adams Trustee Dated: .. THE FAIRYLAND TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FAIRYLAND TRUST I report to the trustees on my examination of the financial slatements of The Fairyland Trust {the charity) for the year ended 31 December 2024. Responsibllltles and basls 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 r8quirements of the Companies Act 2006. Havlng satlsfled myself that the financial statements of the charlty are not requlred to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examinalion of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions giv8n by the Charity Commission under section 14515)Ibl of the Charities Act 2011. Independent examlner's statement 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 that in any material respect.. accounting records were not kept in respecl of the charity as required by section 386 of the Companles Act 2006. the financlal statements do not accord with those records., or the financial statements do not comply wlth the accounting requirements of section 396 of the Companies Act 2006 other than any requir8menl that the financlal statements give a Irue and fair view, which Is not a matter consldered as part of an independent examination., or 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 financial statements in accordance wilh 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 th& examination to which attention should be drawn in this report in order to enable a proper underslanding of the financial slatements to be reached. m4U Mapus.Smlth & L•mmon LLP 48 King Street King's Lynn Norfolk PE30 1 HE Date: .J.Li.41-Ll. THE FAIRYLAND TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted Restrlcted funds funds Total 2024 Total 2023 Notes Income from: Charitable activities Investments 103,538 103,538 95,924 Total Income 103,540 103,540 95,924 8ndllura on.. Charitable activities 101,886 101,886 98,223 Net Incomel(expendlture) for the yearl Net movement In funds 1,654 1,654 (2,2991 Fund balances at 1 January 2024 12,2061 7,515 5,309 7,608 Fund balances at 31 December 2024 (5521 7,515 6,963 5,309 The statement of financial activities includes all gains and losses recognised in Ihe year. THE FAIRYLAND TRUST BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 40 53 Current assets Stocks Debtors Cash al bank and in hand 10 11 1,000 1,626 6,047 2,000 1,585 3,421 8,673 7,006 Creditors: amounts falling due wSthln one year 12 (1,750} {1,750) Nel current assets 6,923 5,256 Total assets less currant liabilltles 6,963 5,309 Income funds Restricted funds Unrestricted funds 13 7,515 {552) 7,515 (2,206} 6,963 5,309 Company registration number 04210261 THE FAIRYLAND TRUST BALANCE SHEET (CONTINUED) AS AT31 DECEMBER 2024 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. The directors acknow18dge their responsibillties for complying with the requiremants of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members hav& not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financlal statements hav8 b8en prepared In accordance with the provisions applicab18 to companies subject to the small companies regime. The financial statements were approved by the Trustees on Stuart Adams Truslee Company reglstratlon number 04210261 THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies Charity informatlon The Fairyland Trust is a private company limited by guarantee incorporated in England and Wales. The r8gisler6d office is 48 King Slr88t, Kings Lynn, Norfolk, PE30 1 HE. 1.1 Accountlng convantlon The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic Df Ir8land IFRS 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 hislorical cost convention. The principal accounting policies adopted are sel out below. 1.2 Charltable funds Unreslricled funds are available for use at the discretion of the Iruste8s in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restrlcted funds ar8 set out in the notes lo the financial stat&m8nts. 1.3 Incoming resources Income is recognised when the charity is legally enti118d to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable Ihat income will be received. Cash donalions 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 recelved under Gift Aid or deeds of Covenant Is recognis8d at th8 tim8 of the donation. Interest is included when received by the charity. 1.4 Resources expended Expenditure is recognised once there is a legal or constructive obligalion to transfer economic benefit to a third party. it 15 probable that a transfer of economic benefits will be required in settlement, and th8 amount of the obligation can be measured reliably. Expenditure is classified by aclivity. 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 aclivity. Shared costs which contribute to more than one activity and SLSPPOrt costs which are not attributable lo 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 are allocated on the portion of the asset's use. Expenditure is recognised when a liability Is incurred. Contractual arrang8ments and perfomance related grants ar8 recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises Ihat results in the Costs of g8nerating funds are those Costs incurred in trading activilies that raise funds. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with the constitutional and statutory requlrements. THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcies (Continued) 1.5 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, net of deprecialion and any impairment losses. Depreciation is recognised so as to write off th8 cost or valuatlon of assets less thelr residual values over th8ir useful lives on the following bases.. Shed Computer equipment Other 25% reducing balance basis 25% reducing balance basis 250/0 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 the slalemenl of financial aclivilies. 1.6 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost compris8s direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacem8nt cost and cost. Net realisable value Is the estimated selling price less all esllmated costs of completion and costs to be incurred in marketing, selllng and distribution. 1.7 Cash and cash aqulvalents 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 currenl market value. 1.9 Taxatlon The company is a registered charity and qualifies for relief from corporation tax under Taxes Act 1988, Section 505. Consequently, no tax liabilities arises. Charitable activities 2024 2023 Gift aid donations Event income Workshop fees Merchandise 12,277 82,800 8,461 18,743 71,637 5,146 398 103,538 95,924 THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from Investments Unrestrlcted Unreslricted funds funds 2024 2023 Interest receivable Charitable activities 2024 2023 Depreciation (reslricted and unrestricted) Event costs and malerials Storage rent Workshop costs Workshop materials Training costs General fundraising costs Stalionary, postage and adminislration Travelling and subslstance Accountancy Other charitable expenditure 13 74,707 8,195 3,398 3,755 698 1,728 5,730 1,971 293 1,398 21 64,193 7,890 5,681 5,821 550 146 5,916 3,238 1,693 3,074 101,886 98,223 101,886 98,223 Net movement In funds 2024 2023 The net movement In funds Is staled after charglngl{crediting}'. Fees payable for the independent 8xamination of th8 charity's financlal statements Depreciation of owned tangible fixed assets 13 21 Trustees None of the trustees lor any persons connected with them) received any remun6ration or benefits from the charity during Ihe year. THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees The av8rage monthly number of employees durlng the year was.. 2024 Number 2023 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 was as follows: Taxatlon The charity is exempt from taxation on its actSvities because all its income is applied for charitable purposes. Tangible fixed assats Shgd Computor equlpmont Othfrr Total Cost At 1 January 2024 900 211 20,450 21,561 At 31 December 2024 900 211 20,450 21,561 Depreclatlon and Impalrment At 1 January 2024 Depreciation charged in the year 898 210 20,400 12 21,508 13 At 31 Decembèr 2024 899 210 20,412 21,521 Carrylng amount Al 31 Decemb&r 2024 38 40 Al 31 December 2023 50 53 10 Stocks 2024 2023 Stock 1,000 2,000 10- THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Debtors 2024 2023 Amounts falllng due wilhin one year: Trade debtors Prepayments and accrued income 651 975 610 975 1,626 1,585 12 Cr8dltor$: amounts falllng due withln one year 2024 2023 Accruals and deferred Income 1,750 1,750 13 Restricted funds The r8Strict8d funds of the charity comprise the unexpended balanc8s of donations and grants held on trust subject lo specific conditions by donors as to how they may be used. At 1 January 2024 Resources expended At31 December 2024 7,515 7,515 Prevlous perlod: At 1 January 2023 Resources expended At31 December 2023 7,517 {2) 7,515 14 Unrostricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds whlch have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended At31 December 2024 General funds {2,206) 103,540 {101,886) {552) 11 THE FAIRYLAND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 UnrestrScted funds (Continued) Pfevlous perlod: At 1 January 2023 Incomlng resources Resources expended A131 December 2023 General funds 91 95,924 198,2211 12,2061 15 Analysls of net assets between funds Unrestrlcted funds Total Fund balances at 31 December 2024 are represented by.. Tangible assets Current assetsllliabilitiesl 40 6,923 40 6,923 6,963 6,963 16 Statement of movement In funds At31 October Incomlng 2021 Resources At31 October 2022 Outgolng Resources Transfer Restricted funds.. Shed, tents and domes 7,520 {3) 7,517 Total restricted funds 7,520 (3) 7,517 Unrestricted funds.. General funds {5,567} 83,486 {77,828} 91 Total unrestricted funds {5,567) 83,486 (77,828) 91 17 Analysls of changes In net funds The charity had no malerial debt during the year. 12-