**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. - 2 - ## **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. - 3 - ## ## ## ## ## ## 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 attent￿n 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. - 6 - ## **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| |---|---| - 7 - ## ## ## ||||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. - 9 - ## **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. - 10 - ## **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. - 11 - ## **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. - 12 - ## **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| |---|---|---| - 13 - ## **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** - 14 - ## **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. - 15 - ## **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| |---|---|---| - 16 - ## **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. - 17 - ## **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. - 18 - ## **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| |---|---|---| - 19 - ## **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| |---|---|---| - 20 - ## **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) . - 21 -