COMPANY REGISTRATION NUMBER: 03650374 CHARITY REGISTRATION NUMBER: 1115119
Friends of the Cotswolds Company Limited by Guarantee Financial Statements
31 March 2024
McGILLS Chartered Accountants Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
Friends of the Cotswolds
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 18 |
| Notes to the detailed statement of financial activities | 20 |
Friends of the Cotswolds
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity name Friends of the Cotswolds Charity registration number 1115119 Company registration number 03650374 Principal office and registered 3 The Green office Northleach Cheltenham Gloucestershire GL54 3EX
The trustees
Mr H A Acland Mr P C Blacker Mrs L A Chandler-Mullins Mrs K Farquhar-Thomson Mr C Hancock Mrs K J Morgan Mr S J C Randall Dr D Rockey L C A J Tabor Mr A G Wade Mr M Hurrell Independent examiner McGills Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
Structure, governance and management
The charity is controlled by its Memorandum and Articles of Association as a limited company, limited by guarantee, as defined by the Companies Act 2006. Trustees are recruited and appointed for their knowledge of the Cotswolds and their business and other skills. 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.
- 1 -
Friends of the Cotswolds
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities
The purposes of the charity as set out in its governing documents include the following:
-
Promoting, enhancing, improving and protecting the physical and natural environment of the Cotswolds Area of Outstanding Natural Beauty (AONB) and adjoining and adjacent areas;
-
Advancing the education of the public to the AONB;
-
Providing within the AONB facilities in the interest of social welfare for recreation, sport and leisure time occupation;
-
Preserving buildings and/or sites within the area of historic or architectural merit; and
-
Such other charitable activities consistent with the above objects.
The main activities undertaken during the year to meet the purposes of the charity are:
-
Ownership and renovation of, and fund raising for, its freehold ownership of Grade II* listed Georgian prison at Northleach, Gloucestershire.
-
Promoting the Cotswolds, the nationally important collection of agricultural artefacts at the Old Prison, and interpreting this collection and the Old Prison itself, with new interpretation installed at the Old Prison including indoor and outdoor signage, video tours, audio interpretation and a trail for children.
The charity trustees are aware of the Charity Commission guidance on public benefit and confirm that they have complied with the duty under Section 17 of the Charities Act 2011. The Old Prison, its café and the collection is open to the general public throughout the year.
The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved, for the following reasons:
-
The charity holds reserves
-
The café is contributing both base and turnover rent to the charity and it is expected that this will
-
continue to grow.
The trustees, therefore, consider it appropriate to adopt the going concern basis of preparation of the accounts.
Achievements and performance
The trustees were delighted that the charity was successful in it's National Lottery Heritage Fund application to support a 2.5 year project at the Old Prison which begun in November 2022. In the past 12 months we have begun again to raise our profile with local supporters and continue to develop a programme of events through the now established fundraising committee.
- 2 -
Friends of the Cotswolds
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Financial review
The finances of the charity are sound. The Old Prison was purchased by the charity from Cotswold District Council in July 2013 with the benefit of a twenty year fixed rate repayment mortgage. The office premises at the building were let to the Cotswolds Conservation Board until July 2023. We have not yet found new tenants for all of the offices but the cafe rental continues as does the Cotswolds Radio Station and the Heritage Lottery Fund project office.
In March 2024 we received the balance of the legacy from Neil Curwen of £90,484.89p. Our funds are spread around several Banks getting a good rate of return
At 31 March 2024, the charity had reserves of £906,154 of which £131,929 were restricted and £774,225 were unrestricted.
The majority of our expenditure on the Old Prison will be undertaken with the benefit of grants, and long and short term loans, obtained from either charitable, public or individual sources and the charity would only contemplate projects if it is certain funding is available as and when required. We are particularly grateful to the charities referred to in the accounts. The charity is keen to build up its reserves and increase its regular income as mentioned above. Most of the charity's income has been notionally reserved for specific expenditure, such as CCAS.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Dr D Rockey Trustee
- 3 -
Friends of the Cotswolds
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Friends of the Cotswolds
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Friends of the Cotswolds ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
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 accord 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 give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
- 4 -
Friends of the Cotswolds
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Friends of the Cotswolds (continued)
Year ended 31 March 2024
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.
McGills Independent Examiner
Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
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Friends of the Cotswolds
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 102,030 | 52,648 | 154,678 | 584,792 |
| Charitable activities | 6 | 49,175 | 234 | 49,409 | 59,403 |
| Other income | 7 | 1,200 | 47,500 | 48,700 | 26,376 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 152,405 | 100,382 | 252,787 | 670,571 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 8 | 1,340 | – | 1,340 | 6,470 |
| Expenditure on charitable activities | 9 | 61,276 | 90,971 | 152,247 | 194,043 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 62,616 | 90,971 | 153,587 | 200,513 | |
| ================================ | ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in funds | 89,789 | 9,411 | 99,200 | 470,058 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 264,436 | 542,518 | 806,954 | 336,896 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 354,225 | 551,929 | 906,154 | 806,954 | |
| ================================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 16 form part of these financial statements.
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Friends of the Cotswolds
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Heritage assets | 14 | 531,672 | 547,660 | |
| Current assets | ||||
| Debtors | 15 | 8,985 | 13,954 | |
| Cash at bank and in hand | 669,502 | 579,887 | ||
| -------------------------------- | -------------------------------- | |||
| 678,487 | 593,841 | |||
| Creditors: amounts falling due within one year | 16 | 34,984 | 35,977 | |
| -------------------------------- | -------------------------------- | |||
| Net current assets | 643,503 | 557,864 | ||
| ----------------------------------------- | ----------------------------------------- | |||
| Total assets less current liabilities | 1,175,175 | 1,105,524 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 17 | 269,021 | 298,570 | |
| ----------------------------------------- | ----------------------------------------- | |||
| Net assets | 906,154 | 806,954 | ||
| ========================================= | ========================================= | |||
| Funds of the charity | ||||
| Restricted funds | 131,929 | 542,518 | ||
| Unrestricted funds | 774,225 | 264,436 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 18 | 906,154 | 806,954 | |
| ================================ | ================================ |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
Dr D Rockey Trustee
The notes on pages 8 to 16 form part of these financial statements.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is 3 The Green, Northleach, Cheltenham, Gloucestershire, GL54 3EX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
- 8 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
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.
Heritage assets
Heritage assets measured under the cost model are recognised initially recorded at acquisition cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
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.
4. Limited by guarantee
The liability of the members is limited by guarantee.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Donations | ||||
| Other donations and gift aid | 101,880 | 52,648 | 154,528 | |
| Membership subscriptions | 150 | – | 150 | |
| -------------------------------- | ---------------------------- | -------------------------------- | ||
| 102,030 | 52,648 | 154,678 | ||
| ================================ | ============================ | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Other donations and gift aid | 10,720 | 573,906 | 584,627 | |
| Membership subscriptions | 165 | – | 165 | |
| ---------------------------- | -------------------------------- | -------------------------------- | ||
| 10,885 | 573,906 | 584,792 | ||
| ============================ | ================================ | ================================ | ||
| 6. | Charitable activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Rental income | 9,714 | – | 9,714 | |
| Cafe income | 39,461 | – | 39,461 | |
| Sale of books and Christmas cards | – | – | – | |
| Courses | – | 234 | 234 | |
| ---------------------------- | -------------- | ---------------------------- | ||
| 49,175 | 234 | 49,409 | ||
| ============================ | ============== | ============================ |
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
6. Charitable activities (continued)
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Rental income | 27,697 | – | 27,697 | |
| Cafe income | 31,668 | – | 31,668 | |
| Sale of books and Christmas cards | 38 | – | 38 | |
| Courses | – | – | – | |
| ---------------------------- | -------------- | ---------------------------- | ||
| 59,403 | – | 59,403 | ||
| ============================ | ============== | ============================ | ||
| 7. | Other income | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Insurance refund | 1,200 | – | 1,200 | |
| Dilapidation income | – | 47,500 | 47,500 | |
| ----------------------- | ---------------------------- | ---------------------------- | ||
| 1,200 | 47,500 | 48,700 | ||
| ======================= | ============================ | ============================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Insurance refund | 26,376 | – | 26,376 | |
| Dilapidation income | – | – | – | |
| ---------------------------- | -------------- | ---------------------------- | ||
| 26,376 | – | 26,376 | ||
| ============================ | ============== | ============================ | ||
| 8. | Costs of other trading activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Raising funds | 1,340 | – | 1,340 | |
| ======================= | ============== | ======================= | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Raising funds | 6,240 | 230 | 6,470 | |
| ======================= | ============== | ======================= |
- 11 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Charitable activities | 57,237 | 90,971 | 148,209 | |
| Support costs | 4,039 | – | 4,038 | |
| ---------------------------- | ---------------------------- | -------------------------------- | ||
| 61,276 | 90,971 | 152,247 | ||
| ============================ | ============================ | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Charitable activities | 66,454 | 113,071 | 179,525 | |
| Support costs | 12,957 | 1,560 | 14,518 | |
| ---------------------------- | -------------------------------- | -------------------------------- | ||
| 79,411 | 114,631 | 194,043 | ||
| ============================ | ================================ | ================================ | ||
| 10. | Analysis of grants | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Grants to institutions | ||||
| Grants to institutions | 135 | – | ||
| Grants to individuals | ||||
| Grants to individuals | 11,600 | – | ||
| ---------------------------- | -------------- | |||
| Total grants | 11,735 | – | ||
| ============================ | ============== | |||
| 11. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Depreciation of heritage assets | 15,988 | 15,989 | ||
| ============================ | ============================ | |||
| 12. | Independent examination fees | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 840 | 650 | ||
| ============== | ============== |
13. Trustee remuneration and expenses
The key management personnel of the charity consists of the trustees. One trustee received remuneration of £35,520 (2023: £23,709) during the year for administration, fundraising and project management work for the charity.
- 12 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
14. Heritage assets
Heritage assets consist of the Old Prison building in Northleach, Gloucestershire. The Old Prison is a grade II* listed building of cultural and historic value to the local area.
The charity's policy for heritage assets is in line with the guidance issued by Historic England.
| Old Prison | |||
|---|---|---|---|
| £ | |||
| Cost or valuation | |||
| At 1 April 2023 and 31 March 2024 | 649,726 | ||
| ================================ | |||
| Accumulated depreciation | |||
| At 1 April 2023 | (102,066) | ||
| Charge for the year | (15,988) | ||
| -------------------------------- | |||
| At 31 March 2024 | (118,054) | ||
| ================================ | |||
| Carrying amount | |||
| At 31 March 2024 | 531,672 | ||
| ================================ | |||
| At 31 March 2023 | 547,660 | ||
| ================================ | |||
| Heritage assets are reported at cost. | |||
| 15. | Debtors | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors | 6,225 | 12,154 | |
| Prepayments and accrued income | 1,928 | 1,800 | |
| Other debtors | 832 | – | |
| ----------------------- | ---------------------------- | ||
| 8,985 | 13,954 | ||
| ======================= | ============================ | ||
| 16. | Creditors: amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts | 27,066 | 27,000 | |
| Trade creditors | 5,006 | 4,113 | |
| Accruals and deferred income | 2,912 | 4,075 | |
| Social security and other taxes | – | 789 | |
| ---------------------------- | ---------------------------- | ||
| 34,984 | 35,977 | ||
| ============================ | ============================ | ||
| 17. | Creditors: amounts falling due after more than one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans and overdrafts | 269,021 | 298,570 | |
| ================================ | ================================ |
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
18. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2023 | Income | Expenditure | Transfers | 24 | |
| £ | £ | £ | £ | £ | |
| General funds | 262,306 | 61,920 | (62,616) | – | 261,610 |
| Leyhill prison | 2,130 | – | – | – | 2,130 |
| Legacy | – | 90,485 | – | 420,000 | 510,485 |
| -------------------------------- | -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 264,436 | 152,405 | (62,616) | 420,000 | 774,225 | |
| ================================ | ================================ | ============================ | ================================ | ================================ | |
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2022 | Income | Expenditure | Transfers | 23 | |
| £ | £ | £ | £ | £ | |
| General funds | 251,293 | 96,664 | (85,651) | – | 262,306 |
| Leyhill prison | 2,130 | – | – | – | 2,130 |
| Legacy | – | – | – | – | – |
| -------------------------------- | ---------------------------- | ---------------------------- | -------------- | -------------------------------- | |
| 253,423 | 96,664 | (85,651) | – | 264,436 | |
| ================================ | ============================ | ============================ | ============== | ================================ |
- 14 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
18. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2023 | Income | Expenditure | Transfers | 24 | |
| £ | £ | £ | £ | £ | |
| CRF funded project at | |||||
| the Old Prison | 1,855 | – | – | – | 1,855 |
| Cotswold craft | |||||
| apprenticeship scheme | 78,223 | – | (11,600) | – | 66,623 |
| Leyhill prison | 1,263 | – | – | – | 1,263 |
| Shepherd's hut | 342 | – | – | – | 342 |
| Rooted in the | |||||
| community | 20,835 | 52,648 | (58,950) | – | 14,533 |
| Legacy | 440,000 | – | – | (420,000) | 20,000 |
| CNL Dilapidations | – | 47,500 | (20,304) | – | 27,196 |
| Propogation Course | – | 234 | (117) | – | 117 |
| -------------------------------- | -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 542,518 | 100,382 | (90,971) | (420,000) | 131,929 |
|
| ================================ | ================================ | ============================ | ================================ | ================================ | |
| At | |||||
| At | 31 March 20 | ||||
| 1 April 2022 | Income | Expenditure | Transfers | 23 | |
| £ | £ | £ | £ | £ | |
| CRF funded project at | |||||
| the Old Prison | 3,415 | – | (1,560) | – | 1,855 |
| Cotswold craft | |||||
| apprenticeship scheme | 78,453 | – | (230) | – | 78,223 |
| Leyhill prison | 1,263 | – | – | – | 1,263 |
| Shepherd's hut | 342 | – | – | – | 342 |
| Rooted in the | |||||
| community | – | 133,906 | (113,071) | – | 20,835 |
| Legacy | – | 440,000 | – | – | 440,000 |
| CNL Dilapidations | – | – | – | – | – |
| Propogation Course | – | – | – | – | – |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------- | -------------------------------- | |
| 83,473 | 573,906 | (114,861) | – | 542,518 | |
| ============================ | ================================ | ================================ | ============== | ================================ |
- 15 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
19. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 531,672 | – | 531,672 |
| Current assets | 546,558 | 131,929 | 678,487 |
| Creditors less than 1 year | (34,984) | – | (34,984) |
| Creditors greater than 1 year | (269,021) | – | (269,021) |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| Net assets | 774,225 | 131,929 | 906,154 |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 547,661 | – | 547,661 |
| Current assets | 91,323 | 502,518 | 593,841 |
| Creditors less than 1 year | (35,978) | – | (35,978) |
| Creditors greater than 1 year | (298,570) | – | (298,570) |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| Net assets | 304,436 | 502,518 | 806,954 |
| ================================ | ================================ | ================================ |
- 16 -
Friends of the Cotswolds
Company Limited by Guarantee
Management Information
Year ended 31 March 2024
The following pages do not form part of the financial statements.
- 17 -
Friends of the Cotswolds
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Other donations and gift aid | 154,528 | 584,627 |
| Membership subscriptions | 150 | 165 |
| -------------------------------- | -------------------------------- | |
| 154,678 | 584,792 | |
| -------------------------------- | -------------------------------- | |
| Charitable activities | ||
| Rental income | 9,714 | 27,697 |
| Cafe income | 39,461 | 31,668 |
| Sale of books and Christmas cards | – | 38 |
| Courses | 234 | – |
| ---------------------------- | ---------------------------- | |
| 49,409 | 59,403 | |
| ---------------------------- | ---------------------------- | |
| Other income | ||
| Insurance refund | 1,200 | 26,376 |
| Dilapidation income | 47,500 | – |
| ---------------------------- | ---------------------------- | |
| 48,700 | 26,376 | |
| ---------------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 252,787 | 670,571 |
| ================================ | ================================ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Legal and professional fees | 1,340 | 6,470 |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | ||
| Rooted in the Community costs | 58,951 | 113,071 |
| Repairs and maintenance | 5,664 | 20,607 |
| Insurance | 454 | 3,476 |
| Other establishment | 29,872 | 19,721 |
| Courses | 117 | – |
| Other office costs | 3,584 | 11,042 |
| Interest on bank loans and overdrafts | 10,009 | 10,942 |
| Other interest payable and similar charges | (5,079) | (805) |
| Grants paid and depreciation | 27,724 | 15,989 |
| Other direct charitable activity | 647 | – |
| Dilapidation costs | 20,304 | – |
| -------------------------------- | -------------------------------- | |
| 152,247 | 194,043 | |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total expenditure | 153,587 | 200,513 |
| ================================ | ================================ |
- 18 -
Friends of the Cotswolds
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Year ended 31 March 2024
Net income
2024 2023 £ £ --------------------------------------------------------------99,200 470,058
- 19 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Raising funds | ||
| Consultancy | 1,340 | 6,470 |
| ----------------------- | ----------------------- | |
| ----------------------- | ----------------------- | |
| Costs of other trading activities | 1,340 | 6,470 |
| ======================= | ======================= | |
| Expenditure on charitable activities | ||
| Charitable activities | ||
| Activities undertaken directly | ||
| Rooted in the Community costs | 58,951 | 113,071 |
| Old Prison maintenance | 5,664 | 20,607 |
| Old Prison venue costs | 29,872 | 19,721 |
| Courses | 117 | – |
| Mortgage interest | 10,009 | 10,942 |
| Interest received | (5,079) | (805) |
| Depreciation on heritage assets | 15,989 | 15,989 |
| Other direct charitable activity | 647 | – |
| Dilapidation costs | 20,304 | – |
| -------------------------------- | -------------------------------- | |
| 136,474 | 179,525 | |
| -------------------------------- | -------------------------------- | |
| Grant funding activities | ||
| Grants paid | 11,735 | – |
| ---------------------------- | -------------- | |
| Governance costs | ||
| Insurance | 454 | 3,476 |
| General expenses | 3,584 | 11,042 |
| ----------------------- | ---------------------------- | |
| 4,038 | 14,518 | |
| ----------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | 152,247 | 194,043 |
| ================================ | ================================ |
- 20 -
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Signature 1
Signed by Friends of the Cotswolds Rockey using authentication code MzJcNS4+cElYP2Qx at IP address 194.233.236.23, on 2024/12/17
09:39:42 Z.
Friends of the Cotswolds Rockey's e-mail address is: david.rockey@gmail.com.