Company registration number: 04955081 Charity registration number: 1101134
Jurassic Coast Trust
Annual Report and Financial Statements
for the Year Ended 31 March 2021
Jurassic Coast Trust
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 10 |
| Statement of Trustees' Responsibilities | 11 |
| Independent Examiner's Report | 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 to 15 |
| Notes to the Financial Statements | 16 to 35 |
Jurassic Coast Trust
Reference and Administrative Details
Chair Ms A O'Dwyer Trustees Ms A O'Dwyer Ms D S Appleby Mr M R E Bermingham Prof A S Goudie Cllr S Hughes Mr J Larwood Mrs J S J Mortimer Ms S M Philbrick Mr J J R Pope OBE Cllr M B Roberts Mr D Ryall Mrs H P Stiles Mr J Wokersien Mr C Loder (appointed 19 October 2020) Principal Office The Jurassic Coast Trust Mountfield Rax Lane Bridport Dorset DT6 3JP The charity is incorporated in England and Wales. Company Registration Number 04955081 Charity Registration Number 1101134 Accountants Milsted Langdon LLP
Milsted Langdon LLP Motivo House Alvington Yeovil Somerset BA20 2FG
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Jurassic Coast Trust
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2021 which are also prepared to meet the requirements for a trustees' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (Charity SORP (FRS102) - effective 1 January 2019).
Objectives and activities
Objects and aims
The Trust's objects are to promote the protection, conservation and presentation, for the benefit of the public, of the Dorset and East Devon Coast (Jurassic Coast) World Heritage Site, recognised by the United Nations Educational Scientific and Cultural Organisation (UNESCO) as having such Outstanding Universal Value (OUV) that it warrants being inscribed on the World Heritage List. The Trust's activities include (but are not limited to) the following:
(1) the advancement of environmental protection of the Site and its setting;
(2) the enhancement of the OUV of the Site and of its setting;
(3) the education of the public in respect of the significance and values of the Site and the World Heritage Convention;
(4) to promote and contribute for the benefit of the public to the advancement of culture, heritage and science pertaining to the Site;
(5) to prepare, review, monitor, implement and coordinate the delivery of the Partnership Plan relating to the Site as agreed between UNESCO and the UK Government and as amended and updated from time to time.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aim and objectives and in planning future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
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Jurassic Coast Trust
Trustees' Report
The Jurassic Coast Trust: Reflections on the year 2020/21
Alexandra O’Dwyer, Chair
The financial year 2020/21 presented unprecedented and unimaginable circumstances on a global scale that were only starting to be recognised at the end of the year 19/20. For the Jurassic Coast Trust, as for so many organisations, this was a year defined by responsiveness and adaptation to uncertainty. While optimism remained, it was undoubtedly tempered with: a need for careful management and protection of resources; consideration above everything for people’s safety and wellbeing; and the ability to respond to immediate needs and opportunities whilst continuing to prepare for a more positive future. This was not the year we had expected, and yet it has given us much of which we can be justly proud and a vast amount of learning and inspiration.
Pandemic
As communities stayed under lockdown for many months, the coast was largely deserted, at least for the first quarter of the year. For those able to access the Site, it was a rare chance to experience uniquely tranquil spring and to appreciate all that time in nature can offer us in terms of physical and mental wellbeing. This was especially important against a backdrop of huge uncertainty and stress for individuals, communities, organisations and governments.
The effects of the pandemic were felt amongst our staff team and so supporting them to balance work with their own needs, was our priority. Everyone acted quickly, with innovation and agility, to adapt existing streams of work and to continue to progress our plans and ensure we continued to function effectively as an organisation. As Chair, and on behalf of the Trustees and Patrons, I cannot express my thanks and admiration enough for the way in which the team managed during this time.
One of the most important jobs was to maintain communication with our partners and to support our communities, which included rolling out a programme of Home Learning content utilising the skills of volunteers from the Jurassic Coast Volunteer Network. These weekly newsletters and activities were widely accessed by teachers and schools for which we received very positive feedback:
“Stan was delighted you used the photo of his creations. We are still working on topics you have sent us. Stan is nearly 7 and really enjoys the makes and anything experiment based. We realise it’s lots of work for you to put things together.
We really want to thank you for everything we have received. Even where some of the activities were aimed at older children, we have been able to get bits from it and learn some excellent facts. It has been a great way to explore his passions, so thank you.”
“As their topic this week is fossils, my son’s teacher suggested this task for the class to have fun doing…he loved creating his fantasy Jurassic Park…Jake has enjoyed learning about the Jurassic coast, fossils and palaeontologists for his school work.”
In addition, we co-ordinated monthly meetings to offer support and connectivity for partners and stakeholders. This included sharing good practice regarding Covid controls and collectively unravelling what could and could not be achieved in terms of the changing regulations and practicalities of opening up again. Charmouth Heritage Coast Centre advised:
"The online partner meetings have been really useful for us to catch up with news along the coast and especially sharing best practice and updates with Covid. This has helped us to formulate our guidance and risk assessments in this challenging and changing situation."
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Jurassic Coast Trust
Trustees' Report
As lockdown eased, our support to the partnership was needed more than ever. The summer of 2020 witnessed the best and worst of visitor behaviour across landscapes and heritage in the UK. The Jurassic Coast did not escape this and as the organisation responsible for the protection of the most prestigious heritage designation, we spoke out. The Jurassic Coast reached national headlines and we supported landowners, for example Lulworth Estate, by contributing to campaigns such as ‘Collect, Protect, Respect’ intended to positively influence visitor behaviour when the easing of the first lockdown came about. In addition, we worked with other partners to provide support and advice on re-opening, for example Portland Museum, with planning advice and contacts, sharing funding sources and providing sample policy documents.
Partnership
During this time, we also finalised the 2020-2025 Partnership Plan for the World Heritage Site. This is the document containing all the information and planning required to fulfil our collective management responsibilities for the Site. Amongst all the work that we do, this is perhaps the most significant as it is the way in which we protect the Outstanding Universal Value of the Site, the tool through which we work with partners, the reason we receive a good proportion of our funding and the way in which we assess our impact. The Plan was adopted by [our] two Local Authorities and ratified by UNESCO in May 2020. It can be viewed on our website where we will publish live updates to the Delivery Plan as time progresses. The new Plan is a living document, a blueprint for how partner organisations and groups work together to look after the World Heritage Site. It is based on collaboration and honest communication, shared priorities and joined up projects and it is something of which we, and our partners, can be proud.
The Trust’s role remains a dual one: we operate as the coordinator, facilitator, and enabler of the Partnership Plan, providing steer, guidance, leadership and expertise as needed; and we also act as a Partner in our own right, taking ownership of particular actions and activities or acting as a Partner with other organisations to get specific things done. We are pleased to have heard positive feedback from our Partnership Advisory Committee (PAC) members that they see us living up to this intention and they welcome the role we play.
People
In 2020/21 the majority of our partnership work and communication was delivered online. This new way of working needed to be nurtured and sustained; encouragingly, despite the remote nature of our connections we experienced enhanced cohesion, knowledge-sharing, support and camaraderie across the Jurassic Coast partners.
Sadly, we were unable to work with our Ambassadors and volunteers in traditional ways, as the majority of events, schools’ programmes and partner organisations were closed. Our supporters however, still found ways to get involved. For instance, during lockdown, our expanded family offer, which saw 250 new families sign up in the first week alone, was rooted in the home-schooling and engagement activities our volunteers created. They provided a range of inspiring activities, from sock ammonites, interpretative story writing, stunning photography, artwork and wordsearches. This project was a great success and during times when other charities were losing members and vital income, we maintained and improved upon our membership scheme performance. We could not have undertaken this work without this voluntary support, including from those participating via our Jurassic Coast Volunteer Network Scheme, so thank you to each and every one of you!
Our Ambassadors also used this opportunity to create new content, recording oral histories, undertaking filming, and adding new ideas to help us disseminate new material to keep the coast ‘alive’. Again, without their support we would not have been able to keep up with the demand for new information and activities from parents and communities.
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Jurassic Coast Trust
Trustees' Report
2020/21 was the final year for the Jurassic Coast Volunteer Network programme, funded by MHCLG Coastal Communities Fund. This was a challenging project to deliver in a lockdown, given that the very premise of the work was to provide opportunities for voluntary work within partner organisations to boost skills and employability and capacity building. However, we did harness all and every opportunity for volunteers to re-engage with partner organisations when they felt the time was right and we provided opportunities to work on existing projects from home, which included helping partners with their social media to enhance communication and engagement.
By the end of the Jurassic Coast Volunteer Network project, we had engaged 67 volunteers, successfully engaging with 24 placement providers. In total the project delivered 6,432 volunteer hours within our communities, with each placement averaging 96 hours. We undertook and assessed 37 units of training and vocational qualifications. We had hoped for more, but we delivered the work, in unprecedented circumstances.
In March 2021 we took part in an independent review of the project, commissioned by MHCLG. which will be published later in 2021. This highlights the positive experiences and outcomes for both beneficiaries and placement providers:
“There were sometimes unexpected supplementary benefits... One undergraduate received valuable pointers from their placement provider on subject matter for their university dissertation and the support to get started with that. Another older volunteer learnt a lot of useful knowledge about the World Heritage site through the contacts he made at JCT and interacting with their experts…Volunteers also talked about the less tangible benefits of increased self-confidence or communication skills… A placement provider we spoke with explained how without the JCT Volunteer Co-ordinator they would not have found the volunteers they had received during the project (who were high quality and added real value to their organisation).”
“This placement provider also said that as a result of their learning with taking volunteers through the Jurassic Coast Volunteer Network, when applying for their own funding in future they will make the case for funding a Volunteer Co-Ordinator role within their organisation, as they had found how much time it takes managing volunteers. They would also seek to develop an internship role for a high calibre volunteer to stay with them for 6 months to a year, so that they add greater value to their organisation. The Jurassic Coast Volunteer Network had given them the impetus to get their volunteering role descriptions and policies in place. They would also be happy to continue taking volunteers through the Jurassic Coast Volunteer Network if it continues, as a potential way of sourcing such candidates.
We maintained contact with our Business Partners throughout lockdown and despite the impact of Covid, they contributed a wonderful £19,798 towards our conservation and engagement work. We hosted our annual Jurassic January conference online and were delighted that over 80 representatives from local businesses were able to attend. They listened to presentations from local organisations regarding their experiences in addition to welcoming fellow World Heritage Partners from the Lake District to share their experiences of the year and impact of visitors. Mairi Lock, representative from Lake District WHS said of the conference:
“I enjoyed it, lots of interesting talks and interest from the audience, it was great to hear what others are doing and the issues and solutions”.
An attendee provided feedback: “Many thanks for a tremendously useful ‘Jurassic January’ virtual event, it was very informative and really helpful for me…”
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Jurassic Coast Trust
Trustees' Report
Politics and Participation
In preparing the Delivery Plan which adjoins the Partnership Plan, we have been thinking strategically with partners about our role as a natural World Heritage Site (WHS) and how we can influence the national and international conversation on climate change, environmental conservation and sustainability. Our unique stories on the Jurassic Coast can inform and inspire on many levels and can contribute vital context and inspiration to a range of issues. Our challenge as a partnership is how to use our role within the UNESCO family and our Outstanding Universal Value designation to meaningful effect. In addition, along with the PAC we started to consider how we respond to the findings of the Glover Landscapes Review and the need for all organisations with a responsibility for public engagement in natural environments to be fully inclusive and to innovate new ways of working. We delivered two working groups to consult with members of the PAC in March and early April of 2021, to discuss capacity and leadership from within the partnership, to ensure this work moves forward with momentum during 2021/2022. Needs, in the aftermath of the pandemic and with growing societal awareness, will almost certainly intensify.
Palaeontology and Protection
One of the defining characteristics of this period has been a sense of understanding our role, our expertise and feeling confident in where to apply our efforts. This can be seen clearly in our decision to invest in the Jurassic Coast Collection project, launched in November 2019, and which saw the publication of its Year One report in April 2020.
We received positive comments and support from local fossil collectors, museums and national partners alike:
“The report is great. It should provide a fine foundation for future progress.”
“This is a great document, and I hope it has the required impact on all the different partners.”
The Jurassic Coast Collection is intended to identify a globally important collection of fossils which explicitly demonstrate the OUV of the Site. This is an ambition set out in the Partnership Plan and is rooted in collaborative working between us, museums, academics and collectors (to name a few), as well as being tied together with a shared vision across key partners and interest groups.
The project will develop ways to encourage research, access to and engagement with fossils from our coastline, actively promoting long-term guardianship, the sharing of skills and the display of fossils in local museums, existing and future. A focus on a digital platform for the collection and a series of special exhibitions are some of the first ways in which the public will be able to engage with the fossils and their stories and appreciate the global reach and relevance of the Jurassic Coast. The communal benefits of an exceptional and accessible core collection of fossils are undeniable and through this project we hope to really catalyse enthusiasm and momentum, and create some shared successes and positive outcomes, along the length of the Site.
As ever, in 2020/21 we continued to exercise our protection and care of the Site through involvement in a range of local conservation issues.
We have been actively following and responding to the planning proposal for the Energy Recovery Facility at Portland Port, a high-profile issue generating strong opposition and equal support from across the county. We also continue our involvement in the Sidmouth Beach Management Plan in East Devon, working alongside colleagues at Natural England to overcome challenges and find positive solutions.
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Jurassic Coast Trust
Trustees' Report
In January 2021, we were commissioned by Natural England to survey Sites of Special Scientific Interest in Dorset. Our timely involvement in Environmental Impact Assessments and Planning consultations is proven to result in positive outcomes for the Site. Once again it is successful because of our unique role across the Jurassic Coast, our focus specifically on the Site’s OUV and because of the relationships we develop with all parties as we seek to understand the issues and work towards the very best options.
Our approach to protection is based upon the belief that the Site is best looked after by the people who visit it, and our role is to help them understand the value and meaning of what they see here, as well as inspire their care of these special places.
Publications and Podcasts
In recent times we have moved away from delivering formal education and have made a commitment to delivering broader engagement and informal learning to a wide audience through publications and online content, including podcasts and videos. We have created a good following on social media sites and launched a campaign during the summer of 2020 on Instagram to encourage user-led content, with the campaign #myjurassiccoast. The channel gained over 11,000 followers in one year and showcases the diversity of visitor experiences on the coast.
Personnel and Paperwork
Despite our heartfelt commitment to supporting our staff through the pandemic, we had to make some difficult decisions. Unfortunately, this resulted in the loss of 2 members of staff, one full time and one part time. To ensure we could take timely and effective decisions we maintained a cycle of review and monitoring of business continuity plans and budgets throughout the year and this played a major part in assuring our overall year end position. Other measures to minimise potential losses of income included: taking advantage of the Government’s furlough scheme, without compromising on programme delivery; downscaling of office premises and storage; minimising overheads including printing, travel and expenses and a freeze on planned recruitment. We don’t underestimate how hard this period was for everyone involved and appreciate the efforts that everybody made to assure our sustainability through and beyond the pandemic.
As a Board of Trustees, we welcomed Chris Loder, MP for West Dorset, to the Board in October 2020. We continued to enjoy the support of our Patrons, Professor Denys Brunsden and James Weld and cannot thank them enough for their continued support which, between them, runs to many decades of involvement and countless hours of work on our behalf. Likewise, as Chair, I have felt the benefit of my fellow Trustees who all bring their input and skills to the table with such generosity and commitment and who are willing to embrace the challenge of balancing robust governance with the need to be agile, to flex with the ever-changing world, to manage risk and to nurture our ambitions for the future.
Positivity and progression
We are all very grateful to have finished the year in a strong position and appreciate this has not been the case for many organisations. We have navigated what can only be described as the most difficult period that many of us will have encountered and continued to deliver work programmes of which we are proud. The lockdown and uncertainty of the last 12 months has seen us respond positively and proactively, drawing upon the power of our relationships, the confidence of our vision and a strong, talented and cohesive team of staff, volunteers and partners. We have responded swiftly to new ways of working and it is this agility and our focus on our role and our responsibilities, that means we can have confidence, despite the uncertainty of the future.
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Jurassic Coast Trust
Trustees' Report
We have ambitious plans, which will strengthen the reach of our engagement to all audiences, globally, and enhance the experience of visiting the Site. We will focus on the sustainability of the Site, combining the stories and lessons of the past with how we can positively impact the future through visitor management, palaeontology, planning and partnership work. Our work programme is interleaved with the ambitions of the Partnership Plan and how this will be fulfilled through the Delivery Plan.
As ever, we extend our thanks to every single person that has played a part in looking after our World Heritage Site this year, supporting our work, building our partnerships, and sharing their passion for the Jurassic Coast. It feels that we have all learned more about the importance of community and relationships, the power of online communication, the joy of real life experiences, the benefits of time in nature and the rewards to be found in learning and rolling with the changes. It has not been an easy year, but it has nevertheless been a vital step forwards in the ongoing journey of the Jurassic Coast Trust. Truly, we couldn’t have done it without the involvement, hard work and passion of so many people. Thank you.
Financial review
The year ended 31 March 2021 was enormously challenging as together the staff and trustees kept adjusting our plans and budgets in response to the on-going pandemic. This agility ensured that we finished the financial year with a small surplus of £6,622 even though our total income had reduced to £311,010 (2020 £410,375).
Income and Expenditure
Grants and donations continue to be an important source of funding and we are grateful to all those supporting our work. The funding from Dorset Council and Devon County Council was £110,521 in line with their funding agreement, whilst £20,000 was received from Natural England. The Environment Agency were not able to provide a grant in 2020/21 but have agreed funding of £8,500 for 2021/22.
As described earlier, the Jurassic Coast Volunteer Network had to change its focus as face-to-face volunteering opportunities were limited by Covid. This programme completed on 31 March 2021 and the final report has been approved by the Ministry of Housing, Communities and Local Government who provided the funding.
The programme of work in respect of the Jurassic Coast Collection was funded from the grant received in 2019/20 from the Garfield Weston Trust. As the project develops, we are delighted to have secured £80,000 funding from the John Ellerman Foundation in 2021/22 to enable the continuation of this work.
During the year, the staff team applied for numerous other grants in respect of projects emerging from the Partnership Plan. However, our relatively robust balance sheet and the priority of funders to provide emergency response to Covid meant that most applications were unsuccessful. Fortunately, we were eligible for the Government furlough scheme and a small discretionary grant via Dorset Council, both of which have been used to reduce the impact on staffing.
Other income sources were also severely affected by the Covid 19 pandemic. The periods of lockdown directly affected ourselves and tourism along the Jurassic Coast. There was a consequent reduction in business partner income to £19,797 (2020: £47,195) and in trading income from products and events to £32,847 (2020: £52,099).
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Jurassic Coast Trust
Trustees' Report
Expenditure during the year is set out in Notes 7 and 8 to the accounts. The major expenditure item is salaries and we worked closely with staff to hold posts, that had been planned, vacant and to use the furlough scheme to help reduce the risk of a deficit. During the year one full-time post and one part time post were made redundant.
Reserves
At 31 March 2021 reserves total £162,545, all of which are unrestricted funds. An analysis of funds is shown at Note 22. Previous Restricted Funds relating to Durlston Castle and the Jurassic Coast Volunteer Network were fully spent in the year. A new designated fund of £9,301 has been created as a result of the Crowdfunder appeal for the Mary Anning letter in summer 2020.
In March 2021, the Jurassic Coast Trust successfully applied for a Bounce Back Loan of £50,000. This is included in the balance sheet at the year end and plans are under development for its use. The loan is repayable over 5 years from April 2022, when the first interest payments will also fall due.
The year end position is a small improvement on the position at 31 March 2020, and leaves reserves at a level comparable to those at 31 March 2019. Based on the agreed budget for 2021/22 the reserves represent 4.5 months of fixed costs which is a satisfactory outcome given the year that has just passed. Trustees are satisfied with the current level of free reserves of £148,688 (2020: £104,430) and will continue to set our income strategy to maintain this.
Structure, governance and management
Nature of governing document and organisational structure
The Trust was established as a company limited by guarantee (incorporated 6 November 2003) and registered as a charity with the Charity Commission (registered 10 December 2003). The affairs of the Trust are governed by its memorandum and articles under which the members of the company are its trustees and control the charity and its property and funds. Further trustees are appointed by approval of the existing trustees.
Financial instruments
Objectives and policies
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.
Cash flow risk
The charity’s activities expose it primarily to the financial risks of changes interest rates.
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Jurassic Coast Trust
Trustees' Report
Credit risk
The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.
The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.
The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.
The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity monitors its cash resources carefully.
Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
The annual report was approved by the trustees of the charity on 9 December 2021 and signed on its behalf by:
......................................... Ms A O'Dwyer Chair
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Jurassic Coast Trust
Statement of Trustees' Responsibilities
The trustees (who are also the directors of Jurassic Coast Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. 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 charitable 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:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 9 December 2021 and signed on its behalf by:
......................................... Ms A O'Dwyer Chair
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Jurassic Coast Trust
Independent Examiner's Report to the trustees of Jurassic Coast Trust
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021 which are set out on pages 13 to 35.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Jurassic Coast Trust (and also 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 Jurassic Coast Trust 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 your charity’s accounts as 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 Jurassic Coast Trust'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:
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accounting records were not kept in respect of Jurassic Coast Trust as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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.
G J Freeman ACA Motivo House Alvington Yeovil Somerset BA20 2FG
24 December 2021
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Jurassic Coast Trust
Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Donations and legacies 3 Other trading activities 4 Investment income 5 Other income 6 Total income Expenditure on: Charitable activities 7 Total expenditure Net income/(expenditure) Transfers between funds 22 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 22 |
Unrestricted £ 168,684 32,847 17 21,320 222,868 (187,659) (187,659) 35,209 (5) 35,204 127,341 162,545 |
Restricted £ 82,325 - - 5,817 88,142 (116,729) (116,729) (28,587) 5 (28,582) 28,582 - |
Total 2021 £ 251,009 32,847 17 27,137 311,010 (304,388) (304,388) 6,622 - 6,622 155,923 162,545 |
Total 2020 £ 358,203 52,099 73 - |
|---|---|---|---|---|
| 410,375 | ||||
| (438,895) | ||||
| (438,895) | ||||
| (28,520) - |
||||
| (28,520) 184,443 |
||||
| 155,923 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2020 is shown in note 22.
The notes on pages 16 to 35 form an integral part of these financial statements. Page 13
Jurassic Coast Trust
(Registration number: 04955081) Balance Sheet as at 31 March 2021
| Note Fixed assets Intangible assets 14 Tangible assets 15 Investments 16 Current assets Stocks 17 Debtors 18 Cash at bank and in hand 19 Creditors: Amounts falling due within one year 20 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 21 Net assets Funds of the charity: Restricted income funds Restricted Funds analysis Unrestricted income funds Unrestricted Total funds 22 |
2021 £ 12,854 1,002 1 13,857 16,760 5,914 226,698 249,372 (50,684) 198,688 212,545 (50,000) 162,545 - 162,545 162,545 |
2020 £ 19,280 3,630 1 |
|---|---|---|
| 22,911 | ||
| 19,352 12,832 157,071 |
||
| 189,255 (56,243) |
||
| 133,012 | ||
| 155,923 - |
||
| 155,923 | ||
| 28,582 127,341 |
||
| 155,923 |
For the financial year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The notes on pages 16 to 35 form an integral part of these financial statements. Page 14
Jurassic Coast Trust
(Registration number: 04955081) Balance Sheet as at 31 March 2021
The financial statements on pages 13 to 35 were approved by the trustees, and authorised for issue on 9 December 2021 and signed on their behalf by:
......................................... Ms A O'Dwyer Chair
The notes on pages 16 to 35 form an integral part of these financial statements. Page 15
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
1 Charity status
The charity is limited by share capital, incorporated in England and Wales.
The address of its registered office is: The Jurassic Coast Trust Mountfield Rax Lane Bridport Dorset DT6 3JP
These financial statements were authorised for issue by the trustees on 9 December 2021.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Jurassic Coast 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 notes.
Going concern
In light of the rapid global spread of Coronavirus “Covid-19” in early 2020, the Trustees revised their plans and budgets for the next twelve months. Some activities were scaled back, cancelled or postponed and recruitment was frozen.
During the year close liaison with funders, business partners and others along the coast enabled the Trust to flex funding streams and plan for the future – in particular to develop the digital elements of the Trust’s work and the continuation of work on the Jurassic Coast Collection. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
Page 16
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Exemption from preparing a cash flow statement
The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Exemption from preparing group accounts
The charity has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income
Interest income is recognised when when its receipt is probable and the amount receivable can be measured reliably.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
All resources expended are inclusive of irrecoverable VAT.
Page 17
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Governance costs
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees’s meetings and reimbursed expenses.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Goodwill
Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Tangible fixed assets
Individual fixed assets costing £250 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Page 18
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Asset class
Goodwill
Amortisation method and rate
20% Straight Line
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class
Office equipment
Depreciation method and rate 25% Straight Line
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 19
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Pensions and other post retirement obligations
Employees of the charity are entitled to join a defined contribution scheme. There were no outstanding contributions at the year-end. The costs of the defined contribution scheme are included with the associated staff costs and allocated therefore to raising funds, charitable activities, support and governance costs and charged to the unrestricted funds of the charity. The charity has no liability beyond making its contributions and paying across the deductions for the employee’s contributions.
Jurassic Coast Trust is an admitted body employer in the Local Government Pension Scheme (LGPS), a defined benefit pension scheme that provides pensions and other benefits for employees of councils and other bodies within Dorset. Benefits for members are calculated based on factors such as age, length of membership and salary, and are funded by contributions from scheme members and their employers and from returns on investments. Contribution rates for scheme members are set nationally, and contribution rates for scheme employers are set locally by actuaries every three years.
The Trust participates in the Fund with a risk sharing arrangement in place with Dorset Council. The main funding risk will remain with Dorset Council and the Trust will only pay towards the cost of future service in line with that calculated for Dorset Council. Therefore, as the main funding risks do not fall to the Trust, there is no funding surplus or deficit attributable to the Trust.
Financial instruments
Classification
The charity only holds basic financial instruments as defined in FRS 102.
Recognition and measurement
The financial assets and financial liabilities of the charity and their measurement basis are as follows;
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured as amortised cost as detailed. Prepayments are not financial instruments.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
Investments
Investments in subsidiaries and associates are measured at cost less impairment.
Page 20
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Derivative financial instruments
The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The charity does not hold or issue derivative financial instruments for speculative purposes.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in statement of financial activities depends on the nature of the hedge relationship.
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.
3 Income from donations and legacies
| Donations and legacies; Donations and grants |
Unrestricted funds General £ 168,684 168,684 |
Restricted funds £ 82,325 82,325 |
Total 2021 £ 251,009 251,009 |
Total 2020 £ 358,203 |
|---|---|---|---|---|
| 358,203 |
Page 21
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
£168,684 (2020 - £266,049) of the income above was attributable to unrestricted funds and £82,325 (2020 - £92,154) attributable to restricted funds.
There is a designated fund included in unrestricted funds of £9,301 and the anticipated use of the fund is to be used to acquire an item of significance relating to the World Heritage Site.
| Donations and grants analysis General donations Mary Anning Letter Fund Dorset Council and Devon County Council Ministry of Housing, Communities and Local Government Natural England Environment Agency Garfield Weston Foundation School for Social Entrepreneurs Alice Ellen Cooper Dean National Trust Charmouth Parish Council Lyme Regis Town Council Business Partner Scheme |
2021 £ 7,065 9,301 110,521 79,675 20,000 - - 2,000 - 1,000 850 800 19,797 251,009 |
2020 £ 8,776 - 115,578 86,704 20,000 16,500 45,000 8,000 5,000 3,000 1,650 800 47,195 |
|---|---|---|
| 358,203 |
4 Income from other trading activities
| Trading income; Product sales including publications and royalties Events income; Fundraising events and Go Jurassic income Consultancy fees |
Unrestricted funds General £ 6,605 12,242 14,000 32,847 |
Total funds £ 6,605 12,242 14,000 32,847 |
Total 2020 £ 28,862 18,051 5,186 |
|---|---|---|---|
| 52,099 |
£32,847 (2020 - £52,099) of the income above was attributable to unrestricted funds and £nil (2020 - £nil) attributable to restricted funds.
Page 22
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Gift aid tax refund - interest received |
Unrestricted funds General £ 17 - 17 |
Total 2021 £ 17 - 17 |
Total 2020 £ 56 17 |
|---|---|---|---|
| 73 |
£17 (2020 - £73) of the income above was attributable to unrestricted funds and £nil (2020 - £nil) attributable to restricted funds.
6 Other income
| 6 Other income |
||||
|---|---|---|---|---|
| Dorset Council Discretionary Grant Fund Coronavirus Job Retention Scheme Grant |
Unrestricted Funds General £ 7,500 13,820 21,320 |
Restricted Funds General £ - 5,817 5,817 |
Total 2021 £ 7,500 19,637 27,137 |
Total 2020 £ - - |
| - |
£21,320 (2020 - £nil) of the income above was attributable to unrestricted funds and £5,817 (2020 - £nil) attributable to restricted funds.
Page 23
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
7 Expenditure on charitable activities
| Note Staff costs 12 Allocated support costs 8 Governance costs 8 |
Unrestricted funds General £ 123,477 59,508 4,674 187,659 |
Restricted funds £ 91,660 25,969 (900) 116,729 |
Total 2021 £ 215,137 85,477 3,774 304,388 |
Total 2020 £ 276,895 153,780 8,220 |
|---|---|---|---|---|
| 438,895 |
£187,659 (2020 - £345,974) of the expenditure above was attributable to unrestricted funds and £116,729 (2020 - £92,921) attributable to restricted funds.
| Wages Analysis Protection and conservation Learning and community engagement Income generation Management and adminstration Pension costs |
2021 £ 54,459 54,365 44,759 48,311 13,243 215,137 |
2020 £ 70,141 95,874 30,727 57,492 22,661 |
|---|---|---|
| 276,895 |
In addition to the expenditure analysed above, there are also governance costs of £3,774 (2020 - £8,220) which relate directly to charitable activities. See note 8 for further details.
Page 24
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
8 Analysis of governance and support costs
Charitable activities expenditure
| Unrestricted funds Basis of allocation General £ Education/conservation projects A 15,679 Event costs A 533 Insurance A 1,597 Cost of sales A 4,614 Rent and rates A 4,465 IT repairs & maintenance A 4,369 Website development A 360 Postage, packaging and stationery A 4,471 Telephone and broadband A 1,570 Professional fees A 9,237 Bank charges and interest A 818 Bad debts written off A 900 Depreciation and amortisation A 9,054 Sundry and other administrative charges A 1,841 59,508 |
Restricted funds £ 9,740 195 - - 4,356 320 10,783 60 - 81 - - - 434 25,969 |
Total 2021 £ 25,419 728 1,597 4,614 8,821 4,689 11,143 4,531 1,570 9,318 818 900 9,054 2,275 85,477 |
Total 2020 £ 32,843 11,218 1,587 15,304 11,812 12,462 32,933 5,949 1,620 12,428 1,086 2,700 9,054 2,784 |
|---|---|---|---|
| 153,780 |
Basis of allocation
Reference Method of allocation A Charitable activities
Page 25
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
Governance costs
| Unrestricted funds General £ Independent examiner fees Examination of the financial statements 900 Other fees paid to examiners 3,774 Other governance costs - 4,674 Independent examiner fees Examination of the financial statements Other fees paid to examiners Total for 2021 Total for 2020 |
Restricted funds £ - (900) - (900) Unrestricted funds General £ 900 3,774 4,674 7,379 |
Total 2021 £ 900 2,874 - 3,774 Restricted funds £ - (900) (900) 841 |
Total 2020 £ 900 4,904 2,416 |
|---|---|---|---|
| 8,220 | |||
| Total funds £ 900 2,874 |
|||
| 3,774 | |||
| 8,220 |
9 Government grants
A grant was received during the year from The Ministry of Housing, Communities and Local Government in relation to the Coastal Community Fund Volunteer Network project, to be used specifically for the development of a placement scheme for volunteers throughout the network of partner organisations involved in the tourism sector along the Jurassic Coast.
The amount of grants recognised in the financial statements was £79,675 (2020 - £86,704).
During the year, government grants totalling £27,137 in respect of Coronavirus Lockdown Grants and Job Retention Scheme Grants were received.
10 Net incoming/outgoing resources
Net incoming/(outgoing) resources for the year include:
| Depreciation of fixed assets Amortisation of goodwill |
2021 £ 2,628 6,426 |
2020 £ 2,628 6,426 |
|---|---|---|
Page 26
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
11 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Ms A O'Dwyer
Ms A O'Dwyer received remuneration of £Nil (2020: £5,000) during the year.
Mr J Wokersien
£Nil (2020: £86) of expenses were reimbursed to Mr J Wokersien during the year.
Expenses relate to mileage travelled on behalf of the charity.
Ms S M Philbrick
£Nil (2020: £169) of expenses were reimbursed to Ms S M Philbrick during the year.
Expenses relate to mileage travelled on behalf of the charity.
Mr J Larwood
£Nil (2020: £692) of expenses were reimbursed to Mr J Larwood during the year.
Expenses relate to travel, hotel and subsistence.
No trustees have received any other benefits from the charity during the year.
12 Staff costs
The aggregate payroll costs were as follows:
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2021 £ 188,476 13,418 13,243 215,137 |
2020 £ 236,308 17,926 22,661 |
|---|---|---|
| 276,895 |
The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:
| Average number of employees | 2021 No 6 |
2020 No 7 |
|---|---|---|
During the year, the charity made redundancy and/or termination payments which totalled £83 (2020 - £11,381).
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £50,366 (2020 - £107,811). Key management is used to describe the trustees and senior management of the charity.
Page 27
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
| 13 Independent examiner's remuneration Examination of the financial statements Other fees to examiners All other services 14 Intangible fixed assets Cost At 1 April 2020 At 31 March 2021 Amortisation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
2021 £ 900 2,874 Goodwill £ 32,132 32,132 12,852 6,426 19,278 12,854 19,280 |
2020 £ 900 |
||
|---|---|---|---|---|
| 4,904 | ||||
| Total £ 32,132 32,132 12,852 6,426 19,278 12,854 19,280 |
Page 28
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
15 Tangible fixed assets
| Cost At 1 April 2020 At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 16 Fixed asset investments Investment in subsidiary Other investments Cost or Valuation At 1 April 2020 At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Office equipment £ 10,801 10,801 7,171 2,628 9,799 1,002 3,630 2021 £ 1 Investment in subsidiary £ 1 1 1 1 |
Total £ 10,801 10,801 7,171 2,628 9,799 1,002 3,630 2020 £ 1 |
|
|---|---|---|---|
| Total £ 1 1 1 1 |
Details of undertakings
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
Page 29
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
| Country of | Proportion of voting | Principal | ||
|---|---|---|---|---|
| Undertaking | incorporation | Holding | rights and shares held | activity |
| 2021 2020 |
||||
| Subsidiary undertakings | ||||
| Jurassic Coast Trust (Trading) Limited |
England and Wales, United Kingdom |
Ordinary | 100% 100% |
Dormant |
Subsidiaries
The profit for the financial period of Jurassic Coast Trust (Trading) Limited £Nil and the aggregate amount of capital and reserves at the end of the period was £1.
The subsidiary, which has been dormant from 1 April 2009, was used for non-primary purpose trading activities and profits were gifted to the charity.
17 Stock
| 17 Stock | ||
|---|---|---|
| Stocks 18 Debtors Trade debtors Prepayments Accrued income Other debtors 19 Cash and cash equivalents Cash at bank |
2021 £ 16,760 2021 £ 2,283 1,858 1,367 406 5,914 2021 £ 226,698 |
2020 £ 19,352 |
| 2020 £ 8,061 1,815 2,031 925 |
||
| 12,832 | ||
| 2020 £ 157,071 |
Page 30
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
20 Creditors: amounts falling due within one year
| Trade creditors Due to group undertakings Other taxation and social security Other creditors Accruals Deferred income Deferred income at 1 April 2020 Resources deferred in the period Amounts released from previous periods Deferred income at year end |
2021 £ 5,387 1 830 11,475 5,411 27,580 50,684 2021 £ 28,101 27,580 (28,101) 27,580 |
2020 £ 6,467 1 4,773 11,250 5,651 28,101 |
|---|---|---|
| 56,243 | ||
| 2020 £ 46,761 28,101 (46,761) |
||
| 28,101 |
Deferred income relates to money received in advance of payment schedule in grant documentation. The income was not due until 1 April 2021, therefore the charity is not entitled to the income until that date.
21 Creditors: amounts falling due after one year
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Bank loans | 50,000 | - |
Amounts falling due after one year comprise of a Bounce Back Loan, repayable from April 2022.
Page 31
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
| 22 Funds Unrestricted funds General General fund Designated Redundancy fund Publications fund Mary Anning fund Jurassic Coast Collection fund Total unrestricted funds Restricted funds Durlston Castle fund Fossil Warden fund CCF Volunteer Network fund Total restricted funds Total funds |
Balance at 1 April 2020 £ 70,542 6,945 37,736 - 12,118 56,799 127,341 7,266 - 21,316 28,582 155,923 |
Incoming resources £ 213,567 - - 9,301 - 9,301 222,868 - 2,650 85,492 88,142 311,010 |
Resources expended £ (169,115) - (6,426) - (12,118) (18,544) (187,659) (7,266) (2,650) (106,813) (116,729) (304,388) |
Transfers £ (5) - - - - - (5) - - 5 5 - |
Balance at 31 March 2021 £ 114,989 6,945 31,310 9,301 - |
|---|---|---|---|---|---|
| 47,556 | |||||
| 162,545 | |||||
| - - - |
|||||
| - | |||||
| 162,545 |
Page 32
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
| Unrestricted funds General General fund Designated Redundancy fund Publications fund Jurassic Coast Collection fund Total unrestricted funds Restricted Durlston Castle fund Fossil Warden fund CCF Volunteer Network fund Total restricted funds Total funds |
Balance at 1 April 2019 £ 80,932 30,000 44,162 - 74,162 155,094 7,266 - 22,083 29,349 184,443 |
Incoming resources £ 269,346 - 3,875 45,000 48,875 318,221 - 5,450 86,704 92,154 410,375 |
Resources expended £ (335,677) - (10,297) - (10,297) (345,974) - (5,450) (87,471) (92,921) (438,895) |
Transfers £ 55,941 (23,055) (4) (32,882) (55,941) - - - - - - |
Balance at 31 March 2020 £ 70,542 6,945 37,736 12,118 |
|---|---|---|---|---|---|
| 56,799 | |||||
| 127,341 | |||||
| 7,266 - 21,316 |
|||||
| 28,582 | |||||
| 155,923 |
Page 33
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
The specific purposes for which the funds are to be applied are as follows:
The 'Durlston Castle fund' represents a balance of funds which must be used wholly towards the visitor centre at Durlston Castle.
The 'Mary Anning fund' represents a balance of funds and the anticipated use of the fund is to be used to acquire an item of significance relating to the World Heritage Site.
The 'Fossil Warden fund' represents grants received from the National Trust, Charmouth Parish Council and Lyme Regis Town Council to be used specifically towards supporting the costs of the fossil warden.
The 'CCF Volunteer Network fund' represents a grant received from The Ministry of Housing, Communities and Local Government to be used specifically for the development of a placement scheme for volunteers throughout the network of partner organisations involved in the tourism sector along the Jurassic Coast.
The 'Publications fund' represents the accumulated surplus from publications activity prior to 2017. The Jurassic Coast Trust has subsequently acquired intellectual property relating to these publications which is being amortised over five years.
The 'Redundancy fund' was created in July 2017 upon the TUPE transfer of staff from the then Dorset County Council. Two of these staff left the Jurassic Coast Trust during 2019-20 and the balance has been updated to reflect the remaining potential redundancy liability.
The 'Jurassic Coast Collection fund' represents a grant received from The Garfield Weston Foundation Trust which we are using for the development of the Jurasic Coast Collection project; the project aims to expand our understanding of significant fossil collections from the World Heritage Site, increase public access to them and work towards safeguarding their future.
Page 34
Jurassic Coast Trust
Notes to the Financial Statements for the Year Ended 31 March 2021
23 Analysis of net assets between funds
For the year ended 31 March 2021
| Unrestricted funds General £ Designated £ Intangible fixed assets - 12,854 Tangible fixed assets 1,002 - Fixed asset investments 1 - Current assets 203,420 45,952 Current liabilities (39,434) (11,250) Creditors over 1 year (50,000) - Total net assets 114,989 47,556 For the year ended 31 March 2020 Unrestricted funds Restricted General £ Designated £ funds £ Intangible fixed assets - 19,280 - Tangible fixed assets 2,735 - 895 Fixed asset investments 1 - - Current assets 112,799 48,769 27,687 Current liabilities (44,993) (11,250) - Total net assets 70,542 56,799 28,582 |
Total funds at 31 March 2021 £ 12,854 1,002 1 249,372 (50,684) (50,000) |
|---|---|
| 162,545 | |
| Total funds at 31 March 2020 £ 19,280 3,630 1 189,255 (56,243) |
|
| 155,923 |
24 Related party transactions
During the year the charity made the following related party transactions:
Ms L Culkin
(Chief executive of the trust)
£892 (2020: £2,935) was paid to Ms L Culkin during the year, in respect of expenses, including an advance of £nil (2020: £1,000). Ms L Culkin paid expenses totalling £892 (2020: £2,186) on behalf of the charity. At the balance sheet date the amount due to/from from Ms L Culkin was £Nil (2020 - £749).
Jurassic Coast Trust (Trading) Limited
(Subsidiary)
Jurassic Coast Trust paid £13 to Companies House on behalf of Jurassic Coast Trust (Trading) Limited. At the balance sheet date the amount due to/from Jurassic Coast Trust (Trading) Limited was £Nil (2020 - £Nil).
Other related party transactions are noted within Note 11, trustees remuneration and expenses.
Page 35