Springhead Trust Limited
Annual Report and Financial Statements 2024
Springhead
A rural centre for creative and sustainable living
The Springhead Trust Limited
(A Charitable Company Limited by Guarantee)
Annual Report & Financial Statements
Financial Year Ended 31" December 2024
Registered Charity Number. 1112083
Company Registration Number: 5370640

Springhead Trust Limited
Annual Report and Financial Statements 2024
CONTENTS
Reference and Administrallon Infowmation
ObJectlve5 and Activities
Background to The Springhead Ttust
Mission, Obiectives and ActivKies
Publ1¢ Benefft
Princlpal Achlevements of 2024
Continulng to meet our MIss￿n
Educalional Activiiies
Expanding our Offer
OthorActivitles
PTOtecling & Conserving Springhead's Bullt & Natural Envlronment
Background
Planned Woiks
Recent Works
Dairy Buildlng
Altemative Energy
Omamentsl & Productive Gardens
Community Use & Arts AdlvFties
Our Supporters
Our Staff
Our Trustees
Other Volunteers & Friends
Plans for 2025 and Beyond
Staffing
Tnjstees and Other Volunteers
Fundraising
Capital Works
Structure, Governance and Mana9empnt
Goveming Documenl
The Board of Directors
Board of Dlrectors Inductiffl Pollcy
Management Committee
Risk Managem8nt
Financial Management and Reportlng
Review of Finanaal Statemertrts
10
10
10
Reserves Policy
Investment PolFCy
Statement of Directt)rs' Responslbilitles
Reportlng Accounlant's Statement
Flnancial Statements
io
10
10&11
12
statement of financial aclfvlty
Balance Sh&t as of 31 December 2024
14
15
Notes to the fu)an¢ial ststements
1&21

Springhead Trust Limited
Annual Report and Financial Ststements 2024
Annual Report and Financial Statements 2024
The Directors present their annual report for the year ended 31 De￿rnber 2024. As The
Springhead Trust Limited is a registered charity and company, this statutory Directors, Report
also serves as the Trustees, Annual ReFQrt.
REFERENCE AND ADMINISYRATION INFORMATION
Charity Narne..
The Springhead Ttust Limited
Charity Registration Number:
1112083
CoTnpany registration number:
5370640
Registered Office:
Springhead
Mill Street
Fontmell Magna
Shaftesbury
Dorset
SP7 ONU
Telephone Number.
Email..
Web site..
01747 811853
Trustees l Directors:
Nikolaus Boulting (Chair) appointed
lan Scott
appointed
Lee Smith (Treasurer)
appointed
Julian Richards
appointed
01.01.2006
01.01.2006
11.12.2008
11.03.2023
Twst Managers:
Joanna Poole
Jonathan Pinder
Trust Administrator:
Helen Baker
Bankers..
CAF Bank
PO Box 289
West Malling
Kent
ME194TA
Solicitors.
Madachlan Solicitors
2 Salisbury Street
Shaflesbury
Dorset
SP7 8EJ
Reporting ACCx￿ntsnts.
Yuval Saloml FCCA
Avencia Tax and Accountancy Ltd
13a Mill Lane
Wimbome
Dorset
BH21 1LN

Springhead Trust Limited
Annual Report and Financlal Statements 2024
OBJECTIVES AND ACTIVITIES
BACKGROUND TO THE SPRINGHEAD TRUST
The Springhead Trust was established by the family of the late Rolf and Marabel Gardiner to
preserve ar7d make accessible to the public Springhead's buildings and gardens. and to
promote public awareness of Rolf Gardiner's pioneering wotft as an organic farmer, forester and
ecologist. From the early 1930s. Gardiner. one of the founding members of the Soil Associatton,
fanned the Springhead estate on strict organic lines. He planted a large area of mixed woodland
on the downs to the north of Springhead - some 3 million trees in a period of 12 years- agalnst
the prevailing fashion for conlfer favoured by the Forestry Commission.
Springhead is mentioned in the Domesday Book as Upper Mill. Fontmèll Magna. The property. a
cluster of former fami and mill buildings listed by Historic England as being of historical and
architectural Interest, is set beside a lake formed out of the original mill pond. The lake is fed by
seven springs that bubble out Ihough the greensand under the surrounding North Dorset chalk
downland. The lake is bordered by Springhead's picturesque gardens.
Since 1973, when the Trust vrfas set up, Springhead has operated as a venue for environmental
educatbn, especially for school groups. for arts and (￿ltural activtties and other community
uses. In 2006, The Springhead Trust Limited took over the running of these activities from the
former unincorporated charity, The Springhead Trust. In March 2017, The Springhead Trust,
which previously held leases on various parts of the Springhead property, was wound up In
favour of The Springhead Trust Limited, the freehold property having been transferred to the
Charitable Company in November 2016. following the death of Rosalind Richards. Rolf and
Marabel Gardiner's daughter who was the last family member to claim the life tenancy of
Springhead - for further information, please see
MISSION, OBJECTIVES AND ACTIVITIES
The Springhead Trust's misslon is to encourage people of all ages and backgrounds to
experience and value the rural environment, and to leam about the sustainable use of natural
resources. as well as to preserve Springhead's buildings and gardens as a special pla￿ for
education and the enjoyment of the arts. music and rural culture. The objects of the charity, as
set out in the Memorandum & Articles of Association of the Springhead Trust Limited. are 'to
promote and l or support any exclusively charitable purposes or charitable objects in the United
Kingdom as the Trustees in their discretion shall think fit,.
The Trust's objectives and key areas of work are:
To advance environmental education and personal development through the delivety
of courses and hosting of day and residential visits. particularfy for thildren and young
people
To promote thè ￿nservation. protection 8nd improvement of the natural envlronment
follovling organic prfnciples. promoting biodiversty and the use of renewable energy
To enable people to enjoy and learn about the arts, by staging performances in
Springhead's Rotunda Open-Air Theatre and Mill Room. and holding exhibitions.
n￿rts. V￿rkShopS and classes and other participatory events
To give the public opportunttie5 to enjoy and leam at Springhead, through open days.
volunteering and provtding spaces for communty use
To conserve and enhance Springhead's buildings and gardens for fijture generatlons.
PUBLIC BENEFIT
The Twst's chariiable purposes are exclusively for the public benefit. Our truste&s are fully
aware of the Charty Commissh)n's public benefit guTrdance. We have reviewed our aims and
activities to ensure that we cary out our charitable purposes for Ihe public benefit.

Springhead Trust Limited
Annual Report and Financial Statements 2024
PRINCIPAL ACHIEVEMENTS OF 2024
CONTINUING TO MEETQUR MISSION
With invaluable support from the Trusl's staff and our growing bcK]y of volunteers, during 2024
Springhead continued to achieve its mission: that is. principally. to encourage people of all ages
and backgrounds to experience and value the rural environment. to leam about the sustainable
use of natural resources", and to conserve and make aC￿sSible Springhead's bulldlngs and
gardens as a Special place for education and enjoyment of the arts and rural culture.
EDUCATIONAL ACTIVITIES
Back in 2022, despite largely posttive feedback on Springhead's leaming programme for
schools, th8 Board had taken the view that the Trust's environmental education offer should be
independenlly reviewed. It was decided that the r9view should be carried out by Llfeworlds
Leaming Limited. an organisatKJn specialising in environmental education. The agreed brief was
thal Springhead's leaming programme should reflect both current trends in environmental
education as well as ￿rtain site-specific factors - Springhead's history, its geographical location,
topography. geology, biodiversity and the existen￿ of organic covenants on the Trust's land. It
was also agreed that the leaming programme should satisfy requirements of visiting
schools, helping them to achieve curriculum-related leaming outcomes, as well as to develop
social skills and friendships and enjoy the benefits of being engaged In outdoor activities.
A major review meeting was held Én October 2022 at which it wa5 agreed that the Trust and
Lrfeworlds Leaming Limited would continue to work in partnership in developing and fvrther
trialling Springhead's bespoke environmental edu(xtion programme. On 8 March 2023, the
programme's dedicated website had been launched - see www.leamwithspiinghgad.org.uk
Durlng 2024. continuing working Lrfeworlds Leaming Lirnited, Springhead hosted 424
pupils from 20 schools. together with 64 teachers and 3 members of Llfeworlds Leaming Limlt-
ed's team, for both day and residential courses involving. in all, a totsl of some 1.750 day andlor
over-night visits. The programme was led by Joanna Poole and Jonathan Pinder, Springhead's
Managers, who were again supported by Tracey Dewey. a pualified teaching assistant who has
worked at st Andrews's Primary School, Fontmell Magna. Springhead's team was also support-
ed by Sarah King - se6 Plans for 2025 and Beyond below. NJEhough most visiting sch(x)I parties
came from primary schools in Dorset. others were from neighbouring southern counties, includ-
ing Hampshire. Wittshire. Somerget. Bristol and Oxfordshire,. from Buckinghamshire. Suffey and
Kent; and one from Worcestershire.
EXPANDING OUR OFFER
In addilion to the Trusfs leaming programme for prfmary sch￿1 children, in their review
Lrfeworlds Leaming Limited proposed expanding Springhead's provlsion to pupils from
secondary schoo15 and making the site available for teachers and others to attend CPD
(continuous professional development) programmes for environmental education. During 2024,
vthile some irlroads were made into attracting se(x)ndary school groups to Springhead, tr> date
interest in our proposed CPD progr8mmes has been very limited.
OTHER ACTIVITIES
The Twst's bespoke environmental leaming programtne apart. the activities staged at
Springhead during 2024 included the on-going Maintenan￿ of the site, its buildings and
grounds. and a range of revenue-generating events including vistting interest groups - walkets
and cyclist5. musicians. etc
and families: those stsging lakeside weddings and other
lebrations and commemoratlons", dramatic and musical performances. lectures. talks and
seminars.

Springhead Trust Limited
Annual Report and Financial Statements 2024
PROTECTING & CONSERVING SPRINGHEAD'S BUILT & NATURAL ENVIRONMENT
BACKGROUND
In re￿nt years, helped by the continuation of various Covid-19 recovery funds and the Support
of other grant-awarding charities, the Trust was able to complete a number of major overhauls
of the propety. both our buildings and grounds. These capttal woths focused on: {1) the
conversion of our timber-dad ar￿ shingle-n)ofed garages to form The Bam. an invaluable
flexible outdoor workspaGe" {ii) the long overdue re-roofing of our historic Mill Building, using a
mixture of salvaged tiles on the west slope and matching new hand-made clay tiles on the east
slope. (iii) the continuing development of Springhead's kitchen garden and orchards, including
the erection of an additional poly-tunnel, the creation of new raised beds, and the felling and
lopping of some of the dangerously tall poplar trees in the North Orchard to ensure the safety of
those engaged in restoring the orchard as an activty space. viith its fruil trees. bird hide and
pond. and (iv) at the Insisten￿ of the Trust's insurers, Ecclestasti¢al. we made adjustmènts to
the varlous raised timber walkways in the viclnty of the mill race and the springg. and
refurbished the aGcess ramp from the car park to the terrace Outside the fwst floor Drawing
Room in the Mill Building.
PLANNED WORK
During 2023 and 2024. though essential maintenance was carried out on tjoth the buildings and
gardens. no major capital works projects were undertaken. We sought funding for a number of
projects. including remedial work on the ridge of the thatched roof of Springh8ad House and
Cottage and rationalisation of the electrical heating system, replacing the unreliable night
storage heaters in the Mill Building. the hub of thè Trust's activities, and in the Stables and Fruit
Store, which provide the majority of the Trust'5 sleeping accommodation. Frustratingly. several
of our variotss funding applications were unsuccessful and the works were either handled in a
piecemeal manner or had to be delayed - see Plans for 2025 & Beyond below.
MAINTENANCE PROJECTS
The various minor rna1ntenan￿ projects undertaken in 2024 induded: (i) exlensive bamboo
removal and water margin restoration alongside our chalk stream to the west of our sile - these
works were infomied by advi￿ from the Wild Trout Trust, and were funded by the Famiing ih
Protected Landscapes Fund (FIPL),. (li) river-edge native species planting and hedging
restoration to improve the habitat and biodiversity of this unique. valuable. and rare part of our
grounds
the hope is to build on this project and further broaden the education offer at
Springhead to include more about habFtat protection. natural fiood defences and traditional and
sustalnable land management around chalk streams" (iii) further reconfiguring of the tlmber
walkways and bridges over the springs and mill ra￿, thereby improving public access to the site
and offering greater indusivity to visitors, especially those with additional needs - these works
were supported by Defra's A￿sS for All Fund as part of the support rer£ived by the Trust from
the Cranborne Chase National Landscape toam for Wiltshire Council: (iv) making improvements
to emergency lighting and sign8ge across the site; (v) upgrading our existing a¢￿SSIble
bathroom facilities to comply with cu￿ent leglslative requirements. and (vi) improving fire safety
in the dormitories by ensuring thal the ffi￿ doors comply with current legislative requirements" .
(vii) replacing the oil-fired boiler in Springhead House; (viii) r￿ecorating the function rooms in
the Mill Building; and (ix) beginning the re5toratK)n of the fomier Dairy building as part of a
project to Improve the site's visitor facllities.
Dairy Building Work on the former Dairy Building means that a previously undèr-used area can
now begin to be more effective as an arrival and visitor hub and an addrtional multkfvnctional
spats for all of the Trust's charitable activities. This project offers us greater flexibility of site use
and will enable grgater community involvement as this area is located next to our carpark and
C8n be reached by a permissive path to and from the village and the wider landscape. Like
some of the improvements to accossibilty listed above, this first stage of improvements and
development We￿ made possible through our SuC￿$ful application to the Department of Rural
Affairs, Access forAII fund.

Springhead Trust Limited
Annual Report and Financial Statements 2024
Altemative Energy In 2024, the Trust's awdy of photo-voltaic panels continued to operate
effectively, while the e￿at[C performance of our water turbine resulted in the ci)ntinued loss of
Income to the TNst of access to subsidised electricity. and to ESVIPS the loss of eamings from
the sale of energy to the national grid. Resolving the operational problems of the water turt)ine is
an absolute priority for 2025.
Omamental and productive g&trdens Also in 2024. Springhead'5 gardens ￿ntInued to delight
visitors of a51 agès and to engage increasing numbers of gardening volunteers., while organi
produGe from the kitchen garden and orchards made a significant contribution to the well-being
of the Trust and its visitors.
COMMUNITY USE AND ARTS ACTIVITIES
Events staged in Springhead's gardens and In the Mill Room in 2024 Included:
Open Gardens: in addiiion to our February SrK)wdrop Feslival Week . which attracted
some 300 visitors, we staged a further three Open Gardens in the summer months,
each of them attracting around 150 visitors.
Music: in April and De￿mber 2024, the Mill Room pmvided the venue for concerts by
Dorset Rural Music School Choir, and, in August. for a recital by the intemationally-
renowned harpist Gwyneth Wents'nk.
Talks". archaeologlst Julian Richards, one of Springhead's trustees, organised two, day-
long seminars: one focused on current thinking about Stonehenge.. while the other,
Grnve Concems, addressed the question of what archaeology teiis us about society's
attitude to death and burial
Drama. in July. in ￿llaboratIOn with Artsfeach, Springhead, St Andrévls School and
Fontmell Magna's Village Hall provided vetlues for the Treehouse The8t￿'S
adventurDUS county-wide, peripatetic, community production. The Shaftesbury Tales.
Gsrden of Delights Craft Fair . December saw the return of this pre-christmas Fair.
showcasing the work of local craft practitioners.
Weddings.. during the year Springhead provided the venue for seven V￿ldingS as well
as a number of other ￿lebratOry and commemoratory events
OUR SUPPORTERS
The Board would like to put on record its thanks to a number of organisations and Individuals
who generously provided flnancial support for Sprtnghead during 2024. induding, In
alphabetical order: DEFRAS Awards for All and Fanning in Protected Landscapes Fund, the
Edgar Lee Foundatlon. the Garfield Weston Foundation. the St James Place Partnership
Community Fund and the valentIr￿ Charitable Trust.
The Springhead TnJ8t Is 8xtr6mely graleful to these bodles and to others who have made
personal donations but have chosen to remain anonymous.
OUR STAFF
During 2024, Joanna Poole and Jonathan Pinder, the Trusys Manager and Assistant Manager.
continued to manage Springhead. the srte and all its operations. Apart from working with Lee
Smith, our Treasurer, in matters relating to budgeting and financial managemenl, Joanna's
responsibilities included overseeing all operatÉons relating to our visitors: from deaning and
catering to organising our learning programmes. While Jonathan's activities largely focusèd on
rdlnating the maintenance of Springhead's buildings and grounds. Wth the support of the
Trust's newly-appointed Administrator, Helen Baker, and a nurnber of other regular part-time
members of staff antl the growing number of gardening volunteeps. throughout 2024 Joanna
and Jonathan have successfully manag8d both the slte and its various operations.

Springhead Trust Limited
Annual Report and Financial Statements 2024
OUR TRUSTEES
2024 also saw the departutes of two of the thfft emlnently well-qualified and local new trustees
who had been appointed to Springhead's Board of Trustees in 2023. Sadly. Wai Man Cheung
8nd Matthew House felt that they could not continue.to dedicate the time roquired to make a
significant contribution towards securing the fijture of the Twst. The Board would like to put on
record its thanks to both Wai Man and Matthew for their efforts and to express its regret that the
timing of their appointments as ttustees militated against their ￿ntInuing active involvement
with Springhead.
During 2014. the Board of Trustees mel fa￿l￿fa￿. on six occasions and, virtually, on a
further five occasions to revkew the activities and finances of the Company and to ensure its
effectlve management and governan￿. Ad(Jitional meetings involving some trustees and
members of staff were held to address specific issues: for example, staff recruitment;
arrangements for Open Garden and other events, induding musical arKI theatrical
perfOrman￿s. budgeting, finan￿S and the letting of contracts for insuran￿. tK)wer supply, etc",
fundraising. planning issues relating to a building site directly opposite Springhead's entrance
gates, etc.
OUR vOLU￿rEERs AND FRIENDS
The Trust is indebted to the Friends of Sprtnghead and a number of volunteers who continue to
make a major contribution to both the maintenance of the gardens and to the smooth running of
the organisation, supporting a varFety of fundraising events staged at Springhead. Special
thanks go to the regular team of gardening volunteers who during 2024, under the direction of
Jonathan Pinder. continued to ensure that the gardens never failed to impress our visitors.
PLANS FOR 2025AND BEYOND
Priorrties for 2025 indude:
STAFFING
To relieve Joanna Poole of some of her time-consuming responsibillties, early in 2025 the
Springhead's staff team will be joined by Sarah King. Sarah is no stranger to Springhead. In
2024 she supported those delivering our environmental leaming programme. Her principal role
will revolve around house-keeping: ensuring that cleaning, laundry and ca*ering are handled
efficiently.
TRUSTEES & OTHER VOLUNTEERS
In seeking to replaco the trustees who re(tntly resigned. Ihe Board is conscious of the fact that
it needs to become more diverse. The successful operatlon of Springhead also depends on the
involvement of other volunteers. In addibon to those who make such an invaluable contribution
to the maintenance of our gardens, it is felt that we should seek to invofve those with a range of
interests and professional skills. specifically those famillar with fundraising and social media.
FUNDRAISING
During 2025, the Trust will cx)ntinue to seek to rx)mplement the income it generates from its
activities with grants f￿rn a variety of sources: froni central and local govemment, grant-
awarding charities and private donations. Funding appticab.ons will be for fA)ntributions lowards
re costs and specific projeGts. (xpttal works and activities. Imw)rtandy, the Trust will seek to
restore its depleted reserves.
It Is a¢￿Pted that the appointment of a dedicated fundraiser is an absolute priority. To further
release Joanrk? and Jonathan from the time-consuming distraction of having to add fundraising
to their already over-subscribed lists of responsibilities. one of the Board's priorities for 2025 will
be to seek funding to enable the Trust to appolnt a part-time fijndraiser to lead Springhead's
fundraising initiatives. Meanwhile. be￿een them, the trustees will have to slep into the breach
and devote the time required to seGure grants to cL)mplement Springhead's eamed income.

Springhead Trust Limited
Annual Report and Financial Statements 2024
CAPITAL WORKS
As well as sustalntng tho nomial programme of activities for vislting groups during 2025, our
priorlties for capital works to be undertaken in the year and golng foMard indude; (i) the
restoration of the ridge and parts of the thatched roof of Springhead House and the Cottage,. (li)
the conservation of the murals in the painted dlnlng room in Springhead House., and (ill) further
infrastructural works Including upgrading the surface ol the access track and car parking area.
These projects apar( durlng 2025 we hw, at last, to se(xJre financial support from the National
Lottery Heritsge Fund to undertake a series of surveys and planning exer¢tses to infom fLrture
projects to restore the natural and buitt heritag6 of Springhead. including:
Enhancing the biodiversty of the omamental and productive gardens. including
rèmoving the bulld-up of sltt in the lake, refu￿lShing th6 tjmber revelment and Improvlng
the envlrons of the chalk stream;
Refurbishihg thè Interiors of the Mill Building, the hub of th8 TNst's activities, to meet
the Tmst's operational needs. induding considering the environmentsl and financial
benefit5 of installing a water source pump syst&m to heat the whole stte, making the
Trust still less dependent on fossil fuel; and
Further exploring the history of the Site. induding its archaeology.
Our plan Is to submit a revised application to the National Lottery Hèritage Fund by thè Summer
of 2025 for the initial phases of our planning project.. Springhead Revislted.. Planning Organic
Growth for a Sustainable Future, our project to restore Springhéad's natural and built horitage.
STRUCTURE. GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
The Springhead Trust Limited was incorporated by guarantee on 21 February 2005. 11 has no
share capital and is a registered charity. The guarantee of each member is limited to £1.00. The
governing document is the Memorandum and Articles of Association of the Company. and the
Directors of Springhead Trust Limited are Trustees of Springhead for the PUTpose of charity law.
The Company was fom)ed to take over the actFvitses of the fOrn￿r unincorporated tharity which
had been formed on 1 st March 1973.
The Springhead Trust was fomally wound up on 10th March 2017; its remaining funds were
transferred to The Springhead Trust Limited on 23 March 2017 and its bank accounts were
dosed. The freehold of the Springhead property, its buildings and fifteen acres of grounds, had
been transferred to the Company in November 2016.
THÈ BOARD OF DIRECTORS
The Board of Directors or Trustees of the Springhead Trust Limited has overall responsibility for
ensuring the effective and efficient operation of the organisation within charfty law and Sn Ilne
with the objects of the charitable company.
BOARD OF DIRECTORS INDUCTION POLICY
The Board uses its discr8tion to select and invite appropriate people to become Board
Members. All new Board Members are offered an induction to Introdu￿ the breadth of the
Company's remit, to explain their general duties and to agree their specific roles.
MANAGEMENT COMMIThEE
At a Board meeting in 2010. it was agreed that. to avoid timewconsuming duplication, the roles of
the former Management Committee would be taken over by the Company's Board. and that key
members of the staff would be invited to attend Board meetings.

Springhead Trust Limited
Annual Report and Financial Statements 2024
RISK MANAGEMENT
Under the guidance of the Trusfs Management team. the Board of Directors assesses the major
risks to which the company is exposed, in particular those relating to the operations and
finances of the company. Worf(ing with the on-site management team who have day-to4ay
responsibility for ensuring the safety and security of the Springhead site for the benefit of
visitors. staff and volunteers, the Board regularly reviews its systems and policies to ensure that
they mitigat8 8xposure to any major risks.
FINANCIAL MANAGEMENT AND REPORTING
REVIEW OF THE FINANCIAL STATEMENTS
During 2024 the Trust's gross income was £185,132. while gross expenditure was £188.748. Of
the income. £139.529 was eamed from the Trusys principal activilles: whlle £45,603 came In the
form of grants from national and local govemment funds, grant-awarding charities and prlvate
donations - for details. see Financi81 Statements, pages 14 to 21 below.
RESERVES POLICY
In line with *he guidan￿ issued by the Charity Commission. the Board has reviewed the Trust's
need for reserves. Factors taken into aG(x)unt induded the need to cover fluctuations in
voluntary income and unfOreS￿n requirements for capital expenditure. Historically. the Board
considered it prudent to set the level of general reseNes at not less than £60,000, which
represented approximately 5 months unrestricted charitsbie expenditure. Going forward In 2024
and beyond, this sum has been raised to £75.000.
INVESTMENT POLICY
Historically, the Springhead Trust Limited generated the majority of its Income from its trading
activities, providing facilities for residential and non-residential wurses for school parties and
other interest groups. and the staging of weddings and other events in the gardens. Mo
recently the Trust has been fortunate in receiving support from an increasing number of grant-
awarding charitable tnjsts. Thes8 grants have either been towards the cost of specific capltal
w0￿S or activty projects.
The Trust budgets to expend all anticipated income. ex￿pt for retaining a prudent amount in
serve each year - see Reserves Policy above. It provides for capital expenditure within the
budget or through designated income funds. The only funds that are not expendable within a
12-mOnth period of re￿Ipl are reserves and any grants for activlties that are programmed over
a longer period. Consequently. the Boatd does not consider that it is prudent to invest for a
longer term. The investment policy is, therefore, to retain funds as cash and place them on
bank deposlt at the best obtainable rale.
STATEMENT OF DIRECTORS, RESPONSIBILITIES
Charity law requires the Directors to prepare financral statements for each financial year, which
give a true and fair view of the state of affairs of the charity and of its financial activities for that
period and adequately distinguish any material. special trusl or other restricted fund of the
tharity.
In preparing those financial statements. therefore. the Directors are required to:.
Select sultable accountlng wlicles and then apply thèm consistently.
Make judgements and estlmates thal are reasonable and pnjdent;
State whether the pollcies adopted are in accordan￿ with the appropriate SORP
Accounting Regulations and with applicable accounting standards, subject to any material
departures disclosed and explained in the financial statements. and
10

Springhead Trust Limited
Annual Report and Financial Statements 2024
Prepare the financial statements on a 'golng concem, basis unless it is inappropriate to
assume that the charity will continue in business.
The Directors are responsible for keeping proper accounting records which disclose, with
reasonable accuracy at any time, the financial posttion of the charitable company and enable
them to ensure that the financial statements comply with the Companies Act 2006. They are
responslble for safeguarding the assets of the charitable company and hence for taking
responsible Stsps for the prevention and detection of fraud or other iffegularities.
By order of the Board
L VSMIT
Lee Vincent Smith
Treasurer to Board

Springheal TNst Linilwj
(Admritable company fimitsd byguafarrtee)
INDEPENDENT EXAMINERS REPORT
FOR THE YEAR ENDED 31StDECEMBER 2024
REsPEcTf￿ RESPON8IBIUTIE8 OFTRUSTEE AND EXMINER
The charitys trustees (who are also direfAors for the purposes of company law) are responsiblè for
ui¥ iiiiaiikni01 Owivi iifiiw. i (IV 4*11¢4111y è il U>iV¥> ¢•Vll>iU¥I u iai an addli 18 fiol
required for thlsyear under 8eGtlon 144 (2) of the Chanties Act 2011 (the Charities Act) and that an
independent exarrdnation is needed. Havingsatisfied oursefvesth* the company is not subject to
audit under Gharfty or company law arKI is efigtble for indepeThlent examinatlon. It is our
responsibl￿t0=
vX¢44111I1¥ 4iie a￿UR&"-dFrse￿V0fl i
uii
to follow the procedures laid down in the general Dlrediorks siven bythe Chaiity ComTha&sion
(under section 145(5)(b) of the Charities Act. and
to state whelheT particular trfjtters have come to try attenlion.
BASIS OF INDEPENDENT EXAMINERS REPORT
Our examlnallon wa5 carried out ITr accordance with general Directions gwen bythe Charity
coMN￿$S1on. An axamlnatlon Includes a revis￿ of the accounting record8 kept by the charity end a
comparison of the accounts presented viththase re¢ord8. It also inGlwJes consideration of any
unusual items or thsclosures In the ac%ounts and seekiThJ expknnalions fromthe trustees ¢onGemir¥J
any such matters.
The procedures undertaken do not provide all the evldence thatwould,be req￿red In an atsdi( arn
consequertiy no opinlon18gNen asto whether the ac￿Unts present a irue and f￿.* vith¥ ard the
report is kmited to those Thratters sel oirt In the ststemenl bekx.
INDEPENDENT EXAMINEn sfATEMENT
In conneclion wth rry eXa￿￿nation, no matter has come to nry attention (otherthan Ihal disdosed
low
1. wkich gives me reasonable ¢ause to beleve thatin, any material respect. tlie requirenHts:
to keep accounting reconlsln accordan￿ withsecbon 130 of the Charities ACL. and
to prepare accounts which accord with theaccounting records arKI comply wlth the
accouming require￿￿nts of the Charities A
have not been met or
2. to whlch. in my opirion, attenlion should be drawn In order to enakAe a proper understanrfiro of
the accounts to be reached.
ARTEMA UMITED
Yuval Saloml FCCA ..
ARTEMA
Goal Centred Accounting
014ZS 470044
InfoeartelrA￿ 11 la K￿￿5 Lv Fkmpshlr4 BH24 IEL

Springhead Trust Ltd
Annual Report and Financial Statement 2024
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2024
Notes
Total
2024
rotal
2023
Incomlng ResourGe5
Incoming Resources generated from funds
Voluntary Income
45,603
31,277
Activities for generating funds
39,739
37,152
Investment Income
429
127
Incoming resources from Charitable Activities
93,484
94,542
other Incoming resources - DEFRA Project
5.877
Total Incomlng resources
185.132
163,09B
Resources expended
Cost of generating funds
Cost Df generatlng voluntary income
Activities for generating funds costs
Investment management CA)sts
Charitable Activities
Govemance costs
Other Resources expended - DEFRA Project
20.172
45.974
19,387
43,604
111,798
7,035
3.769
108,219
11,501
10
Total resources expended
188.748
182,711
Net movement in funds
-3.616
-19,613
Balances brought forward at 1 Jan 2024
1,546.913
1.566,526
Balances carried forward at 31 Dec 2024
1.543,297
1.546,913
All activities relate to continuing operations.
The company has no reGognised gains or losses other than the profit or loss for the period.
The notes on pages 16 to 21 fomi part of these accounts

Springhead Trust Ltd
Annual Report and Financial Statements 2024
BALANCE SHEET AS AT 31 DECEMBER 2024
2024
2023
Notes
Fixed Assets
Tangible Fixed assets
12
1.607,246
1,607,862
Current Assets
Debtors
Cash in hand and at bank
13
7,670
18,200
3,128
11.202
25.870
14.330
Liabilitles.. Amounts falling due within one
year
14
89.819
75,279
NET CURRENT ASSETS
.-63.949
-60,949
TOTAL ASSETS LESS CURRENT
LIABILITIES
1.543,297
1,546.913
NET ASSETS
1.543.297
1,546,913
FUNDS
Freehold Property fund
General unrestricted funds
Restricted
1,562,573
-22.354
3.078
1.562,573
-17,410
1,750
15
16
TOTAL FUNDS
17
1.543.297
1.546.913
For the financial year ended 31 De￿mber 2024 the company was entitled to exemption from audit
under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year In
question in accordance with section 476.
The directors acknowledge their responsibilities for complytng with requirements of the Act with
respect to accounting records and preparation of accounts.
The accounts give a true and fair view of the state of affairs of the company as at the end of the
financial yaar in accordan￿ with section 393.
These accounts have been prepared in accordance with the provisrons applicable to companles
subject to the small companies regime.
Signed on behalf of the Boarfj of Directors
Lee Smlth
Treasurèr of the Board
Date
2£ 10.L(a
LrfsniTH

Springhead Trust Ltd
Annual Report and Financial Statemenl 2024
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
GENERAL
1.1.1
The financial statements have been prepared under the historical (x)st convention in
accordance with applicable Ac(x)unting Standard and the Charities SORP 20051Standard
of Recommended Practi￿. 'Accounting by Charities.).
1.1.2
The company is registered for VAT and. therefore recoverable VAT does not form part of
the companvs costs.
1.1.3
All income resources are brought to the credit of the Statement of Financial Activities
when they become due and payable.
1.1.4
Expenditure 15 charged to the Statement of Financi81 aclivities when incurred.
TANGIBLE FIXED ASSETS
These assets are included at cost less depreciation. The Board does nol envisage any
disposal in the foreseeable future and therefore considers this to be appropriaté.
DEPRECIATION
Tangible fixed assets are stated at cost and are depreciated by annual instalments
as follows.
Freehold Property
Fixtures, fittings & fumishings
nla
10% reducing balance
The Company is exempt from the requirement to provide a cash flow statement on the
grounds of its size.
FUND ACCOUNTING
General unrestricted funds comprise of accumulated surpluses and deficits on general
funds. They are awailable for use at the discretion of the Board in furtherance of the
cornpany's general chariiable objectives. Reslricfed funds are ¢￿ated when donations are
made for a particular area or purpose. the use of which is restricted to that area or purpose.
If part of an unrestricted fund is earmarked for a particular project li may be designated
as a separate fund.
VOLUNTARY INCOME
2024
2023
Donations
Grants
11,903
12,757
45,603
31,277

Springhead Trust Ltd
Annual Report and Financial Statement 2024
NOTES TO THE FINANCIAL STATEMENTS
{cont'd)
ACTIVITIES FOR GENERATING FUNDS
2024
2023
Communwty Activities and friends
Gallery Rent
Weddings
3.924
330
4,742
41
37,152
39,739
INVESTMENT INCOME
2024
2023
Bank Interest
27
127
429
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
2024
2023
Courses
Springhead House
Residenllal courses and hirings
Day use
Schools educational progtatnmes
Charftable Events
1,750
37.918
1,060
51,558
34,945
2,325
52,498
71
93,484
94.542
COST OF GENERATING VOLUNTARY INCOME
2024
2023
Fundraising costs
Support Costs
20,172
20,137
COSTS OF GENERATING FUNDS
2024
2023
Advertising
Support Costs
1,597
954
45,974
43.604

Springhead Trust Ltd
Annual Report and Financial Statement 2024
NOTES TO THE FINANCIAL STATEMENTS
(cont'd)
INVESTMENT MANAGEMENT COSTS
2024
2023
Support costs
CHARITABLE ACTIVITIES COSTS
2024
2023
Charstable Events
Educatlonal Consultancy
Equipment
Training and safety
Licenses and pemits
Garden Maintenance
Catering
Cleaning and laundry
Advertising and Promotion
Support costs
150
9.383
368
196
2.511
13.359
12.404
6.191
107
9,447
350
1.296
9,769
16.212
6,415
111,798 108,219
10
GOVERNANCE COSTS
2024
2023
Audit and accountancy
Legal Fees
Health and Safety
Support costs
3,174
416
756
689
7,035
5,962
2,954
11,501
11.1
SUPPORT COSTS
gupport costs are allocated on the basis of staff time as a percentage
Support cost
type
Voluntary
Income
cost
Generating
funds costs
Investment
Costs
Charttable
Activities
costs
Govemance
costs
Total 2024
15
12,059
6,642
745
726
33
26,529
14,612
1.638
1.598
50
40,195
22.139
2,482
2,420
Staff
Premises
Depreciation
Office costs
Travel
1,608
885
99
97
80,391
44,278
4.964
4,841
Total
20,172
44.377
67.236
2,689
134.474

Springhead Trust Ltd
Annual Report and Financial Statement 2024
NOTES TO THE FINANCIAL STATEMENTS
(cont'd)
11.2
STAFF COSTS
2024
2023
Salaries
Salaries Fundrdising
80,391
78.942
80,391
78,942
The average number of employees analyEed by function was:
2024
2023
Fundraising
Charitable activities
12
TANGIBLE FIXED ASSETS
Freehold Fixtures & Total 2024
Propety Equlpment
Cost
Addltions
Disposa15
1.562,573
82,103 1.644.676
4.348
31 Dec 2024
1562 573
86 451 1649 024
Depreciation
Charge for the year
On disposals
36.814
4.964
36,814
4.964
31 Dec 2024
Net book value 31112124
1562 573
44,673 1.607,246
Net book value 01101124
1562 573
45.289 1607 862

Springhead Trust Ltd
Annual Report and Financial Statement 2024
NOTES TO THE FINANCIAL STATEME￿[5
(cont'd)
13
DEBTORS
2024
2023
Prepayments
Debtors: VAT refund
Accounts receivable
3.412
4.258
2,826
302
7,670
3,128
14
LIABILITIES FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Electricity Greditor
Deposits and Payments In Hand
Damage Waiver Deposit
Social securty & VAT
Short Term Loans
829
3,137
3,874
4,811
600
994
65,000
853
85,000
89,819
75,279
15
GENERAL UNRESTRICTED FUNDS
The funds comprise undistributed in(xJme and. have been and continue to be used in the
furtherance of the Charitys objects. If part of an unrestricted fvnd is eamiarked for a
particular project il may be designated as a separate fund. During 2024 all designated
unrestricted funds were utilised for the Televant purposes as reported in the annual report.
15.1
Development Project Funds
Various development projects are in progress or under considerauon for which ￿StS have
been or will be inCu￿ed and grants and donations received. The costs have been capitalised
where the expenditure is deemed to have improved Ihe existtng property.

Springhead Trust Ltd
Annual Report and Financial Statement 2024
NOTES TO THE FINANCIAL STATEMENTS
((x)nt'd)
16
RESTRICTED FUNDS
At 3181 De￿mber 2024 there YNas a restricted balance of £1.750. This grant can
only be used for the future development cost of a biodiversity study relaling to the lake
area.
In the year ended 315t December 2024 £5.097 was fundraised for the DEFRA Project
£3.769 of expenditure was incurred during the year ended 3151 December 2024.
The remaining balance of £1,328 was restricled at 316t December 2024.
17
FUND BALANCES AND MOVEMENTS IN THE YEAR
Balances
01 Jan
2024
Income
Expend5ture
Transfers
Balances
31 Dec
2024
Restrided Funds
B Whatmore-Biodiversity
DEFRA Project
1,750
1,75
1,32
1.328
Freehold Property Fund
1,562.573
1.582,57
Accumulation Fund
-17.410
185.13
188.748
-1.328
-22,3
Total Funds
1,546,913
185.132
188,748
1.543,297
Funds are represented on the balance sheet by:
2024
2023
Fixèd assets
Net current assets
1.607.246 1,607.862
1.543.297 1,546.913
18
BOARD OF DIRECTORS REMUNERATION
No member of the Board or related parties re￿iVed fees or other employments.