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← Wealden Cave & Mine Society

2024-06-30-accounts

REGISTERED COMPANY NUMBER: 05419206 (England and Wales) REGISTERED CHARITY NUMBER: 1113767

Report of the Trustees and Financial Statements for the Year Ended 30 June 2024 for WEALDEN CAVE & MINE SOCIETY

WEALDEN CAVE & MINE SOCIETY

Contents of the Financial Statements for the Year Ended 30 June 2024

Page
Report of the Trustees 2
Independent examiner’s report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 11

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WEALDEN CAVE & MINE SOCIETY

REPORT OF THE TRUSTEES for the Year Ended 30 June 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee and was incorporated on 8th April 2005. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed by its articles of association.

Recruitment and appointment of new trustees

The directors of the company are also trustees of the charity for the purposes of charity law. Under the requirements of the memorandum and articles of association, officers shall be elected at the annual general meeting from amongst the membership and shall serve a minimum term of one year. At such a meeting, the retiring officers shall be eligible for re-election.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed the major risks to which the charity is exposed, and in particular those related to the operations and finances of the charity and are satisfied the systems are in place to mitigate exposure to major risks.

Reserves Policy

The reserves policy of the society is to maintain a level of unrestricted funds, not committed or invested in tangible fixed assets (free reserves) that will enable the society to ensure continuity of activity and to be able to adjust, in a measured way, to any significant change in resources. The trustees estimate that an appropriate reserve will be six months running costs.

OBJECTIVES AND ACTIVITIES

Objectives and activities

The objectives of the society are as follows:

The society is dedicated and enthusiastic in the promotion of the sport of caving both in the South East and other areas of the UK. To this end the society has renovated and maintains a cottage leased from South Wales Caving Club. This cottage, located in Penwyllt, in the Brecon Beacons National Park, provides a useful base for exploring the many limestone caves in the vicinity.

The society continues to enhance the public displays in the Reigate Tunnel Road caves and to provide regular guided tours in the summer months both in Tunnel Road and Barons Cave. Reconstruction continues of the Roman Kiln featuring the first known use of Reigate stone.

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Role of Volunteers

Volunteers assist with the activities of the society in the following ways:

Financial Summary

In the financial year ended on 30 June 2024 the society recorded a net inflow of income of £15,901 increasing net assets to £96,744.

Public Benefit:

The trustees have reviewed the outcomes and achievements of the society’s objectives and activities of the year, to ensure that they remain focused on the charitable aims and continue to deliver benefits to the public. We have complied with the duty under the Charities Act 2006 to have regards to the public benefit guidance published by the Charity Commission.

Trustees Responsibilities in Relation to the Financial Statements

The society trustees (three of whom are also the directors of the charitable company for the purposes of company law) are responsible for preparing the trustees report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)

Company law requires the society trustees to prepare financial statements for each which give a true and fair view of the state of affairs of the charitable company and of the income and application of resources, including income and expenditure of the society for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assts of the society and hence 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 on the society’s website.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

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REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

05419206 (England and Wales)

Registered Charity number

1113767

Registered office

74 Furlong Road Westcott Dorking Surrey RH4 3QL

Directors

N Baldwin HVJ Walden P Burgess

Company Secretary

H V J Walden

Trustees

N Baldwin H V J Walden P Burgess R O'Neill

Approved by order of the board of trustees on 08 December 2024 and signed on its behalf by:

....................................................................... H V J Walden - Trustee (A[redeg=—]

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Independent examiner's report to the trustees of WEALDEN CAVE & MINE SOCIETY ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30/06/2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (who are also the directors of the company 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 the Company are not required to be audited for this year 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

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

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.

B K Pankhania, ACMA 17 October 2024

54 Alicia Gardens Harrow HA3 8JE

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WEALDEN CAVE & MINE SOCIETY

Statement of Financial Activities for the Year Ended 30 June 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and Legacies
2
Investment Income
3
Total
EXPENDITURE ON
Raising Funds
4
NET INCOME / (EXPENDITURE)
RECONCILIATION OF FUNDS
Total Funds Brought Forward
Net Income for the year
TOTAL FUNDS CARRIED FORWARD		 30/06/24
30/06/23
£
£
26,331
20,451
2,866
144
29,197
20,595
13,296
16,743
15,901
3,852
80,843
76,991
15,901
3,852
96,744
80,843

The notes form part of these financial statements.

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WEALDEN CAVE & MINE SOCIETY

Balance Sheet as at 30 June 2024

Balance Sheet as at 30 June 2024
30/06/24 30/06/23
Notes £ £
FIXED ASSETS
Tangible Assets 8 7,733 8,593
CURRENT ASSETS
Debtors 9 113 80
Cash at Bank 89,185 74,348
89,298 74,428
CREDITORS
Amounts falling due within one year 10 (287) (2,178)
NET CURRENT ASSETS 89,011 72,250
TOTAL ASSETS LESS CURRENT LIABILITIES 96,744 80,843
NET ASSETS 96,744 80,843
FUNDS
Unrestricted Funds 11 96,744 80,843
Restricted Funds 0 0
TOTAL FUNDS 96,744 80,843

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 8 December 2024 and were signed on its behalf by:

H V J Walden - Trustee (A[eles]

H V J Walden - Trustee

The notes form part of these financial statements.

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WEALDEN CAVE & MINE SOCIETY

Notes to the Financial Statements for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to Leasehold Property - 5% on Cost Plant and Equipment - 33% on Cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

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WEALDEN CAVE & MINE SOCIETY

Notes to the Financial Statements for the Year Ended 30 June 2024 - continued

2. DONATIONS AND LEGACIES

3. INVESTMENT INCOME
4. RAISING FUNDS
5. NET INCOME
Subscriptions
Public Opening
Stump Income
Donated Services and Facilities
Deposit Account Interest
Stump expenses
Improvements to Property
Support Costs
Donations made
Light and Heat
Reigate caves
Surrey mines
Sundries
Net income is stated after charging :
Depreciation - Leased Assets		 30/06/24
30/06/23
£
£
2,489
2,403
9,670
9,032
5,845
3,420
8,327
5,596
26,331
20,451
30/06/24
30/06/23
£
£
2,866
144
30/06/24
30/06/23
£
£
1,714
1,849
860
860
2,832
5,124
2,169
1,000
1,829
878
2,271
1,620
645
4,122
976
1,290
13,296
16,743
30/06/24
30/06/23
£
£
860
860

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.

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WEALDEN CAVE & MINE SOCIETY

Notes to the Financial Statements for the Year Ended 30 June 2024 - continued

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

8. TANGIBLE FIXED ASSETS
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
INCOME AND ENDOWMENTS FROM
Donations and Legacies
Investment Income
EXPENDITURE ON
Raising Funds
Other
NET INCOME
RECONCILIATION OF FUNDS
Total Funds Brought Forward
Net Income for the year
TOTAL FUNDS CARRIED FORWARD
COST
At 1 July 2023 and 30 June 2024
DEPRECIATION
At 1 July 2023
Charge for year
At 30 June 2024
NET BOOK VALUE
At 30 June 2024
At 30 June 2023
Debtors
Creditors		 Unrestricted
Fund
£
20,451
144
16,743
3,852
76,991
3,852
80,843
Improvements
to Property
£
17,189
8,596
860
9,456
7,733
8,593		 Restricted
Total Funds
Fund
£
£
0
20,451
0
144
0
16,743
0
3,852
0
76,991
0
3,852
0
80,843
Plant &
Equipment
Totals
£
£
2,579
19,768
2,579
11,175
0
860
2,579
12,035
0
7,733
0
8,593
30/06/24
30/06/23
£
£
113
80
30/06/24
30/06/23
£
£
287
2,178

8. TANGIBLE FIXED ASSETS

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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WEALDEN CAVE & MINE SOCIETY

Notes to the Financial Statements for the Year Ended 30 June 2024 - continued

11. MOVEMENT IN FUNDS

At Net At
01/07/23 Movement
in Funds		 30/06/24
£ £ £
General Fund 80,843 15,901 96,744
Restricted Funds 0 0 0
TOTAL FUNDS 80,843 15,901 96,744
Net Movement in Funds, Included in the above are as follows : Incoming Resources Movement
Resources Expended in Funds
£ £ £
General Fund 29,197 (13,296) 15,901
Restricted Funds 0 0 0
TOTAL FUNDS 29,197 (13,296) 15,901
Comparatives for movement in funds At Net At
01/07/23 Movement
in Funds		 30/06/24
£ £ £
General Fund 76,991 3,852 80,843
Restricted Funds 0 0 0
TOTAL FUNDS 76,991 3,852 80,843
Comparative Net Movement in Funds, Included in the above are as follows Incoming Resources Movement
Resources Expended in Funds
£ £ £
General Fund 20,595 (16,743) 3,852
Restricted Funds 0 0 0
TOTAL FUNDS 20,595 (16,743) 3,852
A current year 12 months and prior year 12 months combined position is as follows:
At Net At
01/07/22 Movement
in Funds		 30/06/24
Unrestricted Funds £ £ £
General Fund 76,991 19,752 96,744
Restricted Funds 0 0 0
TOTAL FUNDS 76,991 19,752 96,744
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Incoming Resources Movement
Resources Expended in Funds
Unrestricted Funds £ £ £
General Fund 49,792 (30,040) 19,752
Restricted Funds 0 0 0
TOTAL FUNDS 49,792 (30,040) 19,752

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2024 nor for the year ended 30 June 2023.

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