Charity registration number 1113830
Company registration number 05695208
Walton Firs Foundation
Financial Statements For the year ended 31 January 2022
Walton Firs Developing future generations
Walton Firs Foundation
Contents
| Page | |
|---|---|
| Chairman's statement | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 - 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 - 21 |
Walton Firs Foundation
Legal And Administrative Information
| Trustees | Rob Woolford |
|---|---|
| David Gardner | |
| Peter Wilman | |
| Geoff Card | |
| Benita Middleton | |
| Peter Hanna | |
| David Lewis | |
| Secretary | Julia Wigram |
| Charity number | 1113830 |
| Company number | 05695208 |
| Principal address | Walton Firs Activity Centre |
| Convent Lane | |
| Cobham | |
| Surrey | |
| KT11 1HB | |
| Registered office | Dixcart House |
| Addlestone Road | |
| Bourne Business Park | |
| Addlestone | |
| Surrey | |
| KT15 2LE | |
| Independent examiner | Ward Williams |
| Chartered Accountants | |
| Belgrave House | |
| 39-43 Monument Hill | |
| Weybridge | |
| Surrey | |
| KT13 8RN |
Walton Firs Foundation
Legal And Administrative Information
Patrons
Rosemary Dane Rob Douglas CBE DL Sally Ford Mark Gardner Martin Gerrard QPM DL John Glendinning Reverend Gregory Hargrove Elizabeth Kennedy Alistair Mann Michael Moore Grayham Moon Cliff Palmer Tim Perry Derek Pollard OBE Priscilla Robinson Joe Rogerson Michael Slorick Ashley Tilling Edgar Wadley Marion Wadley Andy Webster John Woodhead
Walton Firs Foundation
Trustees' Report (Including Director's Report) For the year ended 31 January 2022
The trustees present their annual report and financial statements for the year ended 31 January 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 2 to the financial statements and comply with the charity's Articles of Association , the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) " (effective 1 January 2019 ).
Objectives and activities
The objective of the Foundation is to hold, improve and maintain the Walton Firs Activity Centre in Cobham, Surrey, for the use and enjoyment of continuing generations of young people.
In operating the Activity Centre the intention is to provide outdoor, educational and training activity facilities for all groups of young people.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The site continues to provide an outdoor activity experience for traditional users, whilst at the same time providing the opportunity for youngsters who are not members of these organisations.
The Foundation is determined to expand on its education and environmental objectives. The site provides a low cost service to its users, whilst, at the same time, aiming to make a surplus, which is reinvested in improving the quality of the site and the funding of new projects.
The last 2 years, which have been dominated by the COVID-19 pandemic, have shown the value of the site to young people. Although the site had to close when the pandemic was at its worst, it was able to open and provide outdoor activities to many young people when it was most needed and there was little else open for them.
For much of the period voluntary groups were unable to meet and therefore their usage of the site was much restricted. However, schools were desperate to find outdoor activities for their students and our instructors created many new activities for them to keep their children busy and interested. The schools that used the site were very grateful for the assistance we gave them, and many have booked again for the current year.
Financial review
Although turnover for the activity centre returned to pre-pandemic levels for the year, this was mainly due to running activities for schools for their students. Compared with income from accommodation or activities for voluntary groups this requires more input from our instructors and doesn’t generate the same surplus. Taking into account the grants we received from the government for the furloughing of staff and via Elmbridge local authority, the site generated a profit of £4,253 (2021 activity centre loss £105,746). Rental income from the telecom masts in both years contributed £26,600.
The governance costs for the foundation were £54,762 (2021 £64,816) of which £52,242 (2021 £53,947) were services donated by our supporters.
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Walton Firs Foundation
Trustees' Report (Including Director's Report) (Continued)
For the year ended 31 January 2022
Financial review (continued)
During the year we received donations and other grants totalling £22,468 (2021 £140,347); both years being particularly helped by a generous legacy from one of our ex-directors and patrons Richard Shortman. No funds were received from the estate in the year, although a further £60,000 is expected soon (2021 £110,000). Without these donations the Foundation would have been very short of funds and unfortunately funds that, although not restricted in their use but were intended for improvements to the structure of the activity centre, have had to be used to fund the shortfall in income through the pandemic.
At this time our regular customers from the voluntary sector are returning to use both the accommodation and activities at the site. In addition, the schools that used us during the pandemic are returning and booking at a high level. We are therefore expecting a high level of demand for our site in the current year and are increasing our staff levels to handle this.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity ’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Plans for future periods
The trustees of Walton Firs Foundation have adopted a programme for the improvement and renovation of the core buildings at Walton Firs Activity Centre.
During the year the construction of Dick’s Shed (for the storage of equipment) and Richard’s Barn (for activities) was commenced and is expected to be completed and opened in June. This is one building divided into two parts for both the storage of activity equipment and for activities which are better held inside a building and named after 2 of our supporters who have died in the last few years. Richard Shortman left a substantial bequest to Walton Firs Foundation, which helped us through the Covid-19 pandemic. Part of the bequest has already been used to finance the improvements to our foul water treatment system, some is going to be used to finance Richard’s Barn and other funds will be allocated towards the replacement for the Pembroke building. Richard Holly was another keen supporter of Walton Firs, never too busy to assist us with his skills, and his friends and family have raised about £20,000 towards the cost of a much-needed storage area for activity equipment and tools.
Structure, governance and management
The structure of Walton Firs Foundation is a company limited by guarantee, incorporated on 2 February 2006 and established to hold, improve and maintain the Walton Firs Activity Centre in Cobham.
The governing document of the Foundation is the Articles of Association adopted on 8 June 2019.
The governance is by the board of directors who are also the trustees of the Foundation.
No policy for the induction and training of new trustees has been adopted.
In order to review the actions of the directors and trustees, a body of experienced and enthusiastic individuals, known as the member patrons, has been appointed. The member patrons have the right to question the directors on their actions and, if considered necessary, replace the directors.
Walton Firs is a company limited by guarantee. The member patrons are also the shareholders who have guaranteed that they will pay £10 each in the event of the guarantee being called.
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Walton Firs Foundation Independent Examinerfs Report To The Trustees Of Walton Firs Foundation I report to the trustees on my examin8tion of the financlal slalemenls of INallon Firs Foundalion Ilhe charity) for the year ended 31 January 2022. Rosponsibilitios and basis of rèport As the Iruslees of the charity land also Ils directors for the purposes of Company law) you are responsible for the preparation of the financial statements in accoTdan¢e the requirements of the Companies Act 2006 Ilhe 2006 Acll. Having satisfied myself that the financial statements of the charity are nol required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's financi81 slalements caTried out under section 145 of the Charities Act 2011 (the 2011 Acll. In Carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151 {b) of the 2011 Act. Independent examlner's statamant Since the charity's gross Income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ACCA, 1¢ is one of the listed bodies. I have completed my examination. I confimi that no mallers have come lo my attention in conne¢lion with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not 8ccord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts gfve 8 Iwe and fair view which is not a matter consideTed as part of an independent exarninalion., or the financial statements have not been prep8red in accordance with the methods and principles of the Slalement of Recommended Pr3GtÈce for accounting and reporting by charities applicable to charities pieparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and RepuNic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection th the examination to which attentn should be drawn in this Teport order lo enable a proper understsnding of the finandal statements lo be reached. Frank Harting ACCA Ward Williams Charterèd Accountsnts Belgrave House 3943 Monun)enl Hill Weybridge SLtrrey KT13 8RN Dale. .l.o..l os l.lol
Walton Firs Foundation
Statement Of Financial Activities
For the year ended 31 January 2022
| Current financial year Unrestricted Restricted Endowment funds funds funds 2022 2022 2022 Notes £ £ £ Income from: Donations and legacies 4 89,820 14,876 - Charitable activities 5 319,935 - - Other trading activities 6 34,200 - - Total income and endowments 443,955 14,876 - Expenditure on: Raising funds 7 6,095 - - Charitable activities 8 368,700 2,922 25,558 Total expenditure 374,795 2,922 25,558 Net incoming/(outgoing) resources before transfers 69,160 11,954 (25,558) Gross transfers between funds (203,927) 22,383 181,544 Net movement in funds (134,767) 34,337 155,986 Fund balances at 1 February 2021 319,133 19,617 1,328,727 Fund balances at 31 January 2022 184,366 53,954 1,484,713 |
Total 2022 £ 104,696 319,935 34,200 458,831 6,095 397,180 403,275 55,556 - 55,556 1,667,477 1,723,033 |
Total 2021 £ 287,929 74,973 27,644 390,546 2,278 327,777 330,055 60,491 - 60,491 1,606,986 1,667,477 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Walton Firs Foundation
Statement Of Financial Activities (Continued) For the year ended 31 January 2022
| Prior financial year Unrestricted Restricted Endowment funds funds funds 2021 2021 2021 Notes £ £ £ Income from: Donations and legacies 4 286,179 500 1,250 Charitable activities 5 74,973 - - Other trading activities 6 27,644 - - Total income and endowments 388,796 500 1,250 Expenditure on: Raising funds 7 2,278 - - Charitable activities 8 299,249 2,843 25,685 Total expenditure 301,527 2,843 25,685 Net incoming/(outgoing) resources before transfers 87,269 (2,343) (24,435) Gross transfers between funds (4,791) 6,041 (1,250) Net movement in funds 82,478 3,698 (25,685) Fund balances at 1 February 2020 236,655 15,919 1,354,412 Fund balances at 31 January 2021 319,133 19,617 1,328,727 |
Total 2021 £ 287,929 74,973 27,644 390,546 2,278 327,777 330,055 60,491 - 60,491 1,606,986 1,667,477 |
|---|---|
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| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Fixed assets | ||||||
| Tangible assets | 12 | 1,633,555 | 1,616,481 | |||
| Current assets | ||||||
| Stocks | 13 | 5,237 | 4,381 | |||
| Debtors | 14 | 35,360 | 42,257 | |||
| Cash at bank and | in hand | 176,501 | 122,070 | |||
| 217,098 | 168,708 | |||||
| Creditors: amounts falling due within | ||||||
| one year | 15 | (94,738) | (67,830) | |||
| Net current assets | 122,360 | 100,878 | ||||
| Total assets less | current liabilities | 1,755,915 | 1,717,359 | |||
| Creditors: amounts falling due after | ||||||
| more than one year | 16 | (32,882) | (49,882) | |||
| Net assets | 1,723,033 | 1,667,477 | ||||
| Capital funds | ||||||
| Endowment funds | - general | 17 | 1,484,713 | 1,328,727 | ||
| Income funds | ||||||
| Restricted funds | 18 | 53,954 | 19,617 | |||
| Unrestricted funds | 184,366 | 319,133 | ||||
| 1,723,033 | 1,667,477 |
Walton Firs Foundation
Notes To The Financial Statements For the year ended 31 January 2022
1 Charity information
Walton Firs Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE, United Kingdom.
2 Accounting policies
2.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2 Going concern
The directors are of the view that continuing measures to monitor operating costs and ongoing cash flow requirements have secured the future of the Foundation for the foreseeable future and that on this basis the charity is a going concern.
2.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
2.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Voluntary income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. 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.
Gift Aid recoverable is included within the same category of income to which the Gift Aid claim relates in the same period in which that income is recognised.
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Walton Firs Foundation
Notes To The Financial Statements (Continued) For the year ended 31 January 2022
2 Accounting policies
(Continued)
Volunteers and donated services, goods and facilities
The value of services provided by volunteers is not incorporated into these financial statements.
Where services or goods are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity. Donated services include audit, legal and professional fees. Donated goods includes building materials and office equipment.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Other income
Income from telecommunications masts is accounted for on a receivable basis. Rent free periods and premiums are spread equally over the life of the lease.
Income from commercial trading activities is recognised as earned when the related goods and services are provided.
Investment income is recognised on a receivable basis.
2.5 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Walton Firs Foundation
Notes To The Financial Statements (Continued) For the year ended 31 January 2022
2 Accounting policies
(Continued)
2.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buidlings 2%-10% straight line Activity centre equipment 2.5%-20% straight line Fixtures and fittings 10%-20% straight line Computer equipment 33.3% straight line
Freehold land is not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities .
2.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.
2.8 Stocks
Stock is included at the lower of cost or net realisable value. Stock includes souvenir items available for sale.
2.9 Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.12 Leases
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
3 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
4 Donations and legacies
| Unrestricted Restricted funds funds 2022 2022 £ £ Donations and gifts 7,592 14,876 Legacies receivable - - Grants receivable 25,231 - Donated services 56,997 - 89,820 14,876 Grants receivable for core activities Government grant income (Covid-19) 25,231 - Other grant income (Covid-19) - - 25,231 - |
Total Unrestricted Restricted Endowment funds funds funds general 2022 2021 2021 2021 £ £ £ £ 22,468 9,598 500 1,250 - 110,000 - - 25,231 103,526 - - 56,997 63,055 - - 104,696 286,179 500 1,250 25,231 84,527 - - - 18,999 - - 25,231 103,526 - - |
Total 2021 £ 11,348 110,000 103,526 63,055 287,929 84,527 18,999 103,526 |
|---|---|---|
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
5 Charitable activities
| Activity | Activity |
|
|---|---|---|
| Centre | Centre |
|
| 2022 | 2021 |
|
| £ | £ |
|
| Activity centre operating income | 319,935 | 74,973 |
| Other trading activities | ||
| Unrestricted | Unrestricted | |
| funds | funds |
|
| 2022 | 2021 |
|
| £ | £ |
|
| Shop income | 7,600 | 1,044 |
| Telecommunications mast income | 26,600 | 26,600 |
| Other trading activities | 34,200 | 27,644 |
| Raising funds | ||
| Unrestricted | Unrestricted | |
| funds | funds |
|
| 2022 | 2021 |
|
| £ | £ |
|
| Trading costs | ||
| Activity centre shop | 6,095 | 2,278 |
| 6,095 | 2,278 |
6 Other trading activities
7 Raising funds
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
8 Charitable activities
| Staff costs Depreciation and impairment Activity centre operating costs Share of governance costs (see note 9) Analysis by fund Unrestricted funds Restricted funds Endowment funds - general |
Activity Centre 2022 £ 212,075 39,515 90,828 342,418 54,762 397,180 368,700 2,922 25,558 397,180 |
Activity Centre 2021 £ 162,404 38,083 62,474 262,961 64,816 327,777 299,249 2,843 25,685 327,777 |
|---|---|---|
Activity centre operating costs include donated services of £4,755 (2021 £9,118).
9 Governance costs
| Staff costs Depreciation IT and communications Professional fees Audit fees Independent examiner's fees Analysed between Charitable activities |
2022 £ - 120 3,290 47,752 1,350 2,250 54,762 54,762 |
2021 £ 7,226 353 2,695 50,042 4,500 - 64,816 64,816 |
|---|---|---|
Governance costs include donated services of £52,242 (2021 £53,947).
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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Walton Firs Foundation
Notes To The Financial Statements (Continued) For the year ended 31 January 2022
11 Employees
The average monthly number of employees during the year was:
| Activity centre Administration Total Employment costs Wages and salaries Social security costs Other pension costs |
2022 Number 6 4 10 2022 £ 196,523 12,474 3,078 212,075 |
2021 Number 5 4 9 2021 £ 159,906 7,674 2,050 169,630 |
|---|---|---|
There were no employees whose annual remuneration was more than £60,000.
12 Tangible fixed assets
| Cost At 1 February 2021 Additions Disposals At 31 January 2022 Depreciation and impairment At 1 February 2021 Depreciation charged in the year Eliminated in respect of disposals At 31 January 2022 Carrying amount At 31 January 2022 At 31 January 2021 |
Land and buidlings Activity centre equipment Fixtures and fittings Computer equipment £ £ £ £ 1,586,486 195,128 51,955 4,624 40,259 - 17,382 - - - (2,000) - 1,626,745 195,128 67,337 4,624 113,332 65,938 38,444 3,998 21,752 8,541 8,971 370 - - (1,067) - 135,084 74,479 46,348 4,368 1,491,661 120,649 20,989 256 1,474,206 129,191 12,458 626 |
Total £ 1,838,193 57,641 (2,000) 1,893,834 221,712 39,634 (1,067) 260,279 1,633,555 1,616,481 |
|---|---|---|
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
| 12 Tangible fixed assets The carrying value of land included in land and buildings comprises: Freehold 13 Stocks Finished goods and goods for resale 14 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 15 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Other creditors Accruals and deferred income 16 Creditors: amounts falling due after more than one year Other creditors |
(Continued) 2022 2021 £ £ 800,000 800,000 2022 2021 £ £ 5,237 4,381 2022 2021 £ £ 28,263 1,603 86 26,598 7,011 14,056 35,360 42,257 2022 2021 £ £ 6,846 2,762 18,697 14,257 17,881 17,000 51,314 33,811 94,738 67,830 2022 2021 £ £ 32,882 49,882 |
|---|---|
Creditors falling due within one year and after more than one year includes £49,882 (2021: £66,882) of the lease premium received in January 2015 of £170,000, which is deferred over the 10 year life of the lease.
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
17 Endowment funds
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| Permanent endowments Activity Centre Purchase Fund Patience Baden-Powell Centre Caving Experience/High Ropes Shower and Toilet Block Dutch Barn/Shelter Accommodation pods |
Balance at 1 February 2020 £ 800,000 112,499 127,235 134,199 23,107 157,372 1,354,412 |
Movement in funds Income Expenditure Transfers £ £ £ - - - - (6,590) - - (5,739) - - (6,871) - 1,250 (2,451) (1,250) - (4,034) - 1,250 (25,685) (1,250) |
Balance at 1 February 2021 £ 800,000 105,909 121,496 127,328 20,656 153,338 1,328,727 |
Movement in funds Income Expenditure Transfers £ £ £ - - - - (6,590) - - (5,739) - - (6,871) 182,596 - (2,324) (1,052) - (4,034) - - (25,558) 181,544 |
Balance at 31 January 2022 £ 800,000 99,319 115,757 303,053 17,280 149,304 1,484,713 |
|---|---|---|---|---|---|
The transfer from the unrestricted fund to the endowment fund relates to cost of the shower block. Our policy is to transfer the cost to the endowment fund when a project is completed, but this was overlooked last year.
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
18 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Balance at 1 February 2020 £ Activity Centre Equipment 4,377 Special Hargrove Fund 450 Development Fund - other 420 Telecoms Building 9,275 New Accommodation Building 1,397 Dick's Shed - 15,919 |
Movement in funds Incom e Expenditure Transfers Balance at 1 February 2021 £ £ £ £ - 2,723 6,041 7,695 - - - 450 - 120 - 300 - - - 9,275 - - - 1,397 500 - - 500 500 2,843 6,041 19,617 |
Movement in funds Incom e Expenditure Transfers Balance at 31 January 2022 £ £ £ £ - (2,922) - 4,773 - - (450) - - - - 300 - - 6,974 16,249 - - - 1,397 14,876 - 15,859 31,235 14,876 (2,922) 22,383 53,954 |
|---|---|---|
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
| 19 Analysis of net assets between funds Unrestricted funds Restricted funds Endowment funds 2022 2022 2022 £ £ £ Fund balances at 31 January 2022 are represented by: Tangible assets 94,888 53,954 1,484,713 Current assets/(liabilities) 122,360 - - Long term liabilities (32,882) - - 184,366 53,954 1,484,713 |
Total Unrestricted funds Restricted funds Endowment funds 2022 2021 2021 2021 £ £ £ £ 1,633,555 271,137 16,617 1,328,727 122,360 97,878 3,000 - (32,882) (49,882) - - 1,723,033 319,133 19,617 1,328,727 |
Total 2021 £ 1,616,481 100,878 (49,882) 1,667,477 |
|---|---|---|
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Walton Firs Foundation
Notes To The Financial Statements (Continued)
For the year ended 31 January 2022
20 Operating lease commitments
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years In over five years 21 Capital commitments At 31 January 2022 the charity had capital commitments as follows: Contracted for but not provided in the financial statements: Acquisition of property, plant and equipment |
2022 £ 4,000 16,000 - 20,000 2022 £ 60,000 |
2021 £ 4,000 16,000 4,000 24,000 2021 £ - |
|---|---|---|
22 Related party transactions
There were no disclosable related party transactions during the year (2021 - none) .
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