Charity reglstratlon number 1120240 Company registration numbor 06128047 (England and Wales) THE GREAT WOOD TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 THE GREAT WOOD TRUST LEGAL AND ADMINISTRATIVE INFORMATION Truslees Rev'd J H Simmons Mrs M AJ Simmons Mr J Chambers Ms S Keighley Mr D Wliilehouse Rev'd C Owen Rev'd D Whitaker Mr J Titman (Appointed 5 April 20231 (Appointed 16 February 20241 Charlty number 1120240 Company numbor 06128047 Regl8tèr•d offlc• 103 Argenlia Pla Portishea Bristol BS20 7QS Ind&pgndent examiner Mr P J Barton FCCA ART Accounlanls Limited Ground Ploor 11 M3nvers Street Bath BA1 1JQ Bankèr8 HSBC Bank plc 62 George While Street Caboi CirGus Bristol BS1 38A THE GREAT WOOD TRUST CONTENTS Page Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes lo the finanrAal slalemenls 6-14 THE GREAT WOOD TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Iru8lees present their annual report and linanoal slatem8nls for the year ended 31 Marth 2024. The financial stalem8nls have been prepar8d in accordance wlh the accounting policies set out in note 110 the financial slalemenls and comply with the charity's governing documènt, the Companies Act 2006 and "Accounting 8nd Reporting by Charities.. Slalement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Finaiicial Reporting s￿ndard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. Oble¢tlve8 and actlvltles The Charity's objecls are lo ad'ianco the Christian faith in ac¢ordance with the Ch8rily'$ Siaiemenl ol Bellefs in Somerset and in such other parts ol the United Kingdorr or the world as the Trustees may from lime lo time think fil and lo fulfil such other purposes which are exclusively charilable according to the law ol England and Wales and are Connected with the charitable work of the Trust. The Iruslees have paid due regard lo guidan￿ Issued by the Charity Commission in decidlng what acllvilles the tharity should undertakg. Achlevements and performance The Charity look over the management ol Great Wood Camp on 1st April 2007. The site Is In use during the month8 March to November in any year. In August 2014, the Slavanka Trust advanced a loan of £2CK),000 interest free 10 year loan secured by way ol a first charge on the freehold In order lo lacililale the purchase of th6 Slte. This loan is being repaid by an annual grant of £20K from The Slavanka Trust, receivable on the condition that the Iruslees ol The Slavanka Trust are satisfied that the charitable aclivilies currently carried on by the Great Wood Trust are continuing broadly as al present. As al 31 sl March 2024 the final repayment has been made and the oulslanding balance is £nil. Scripture Union have used Great Wood for many years lor the provision ol Christian holidays and weekends. Sincè thè year end they have entered Into a booking lor liva weeks in th8 Slimmer holidays 2025. Other A¢hlev8m8nts In 2016 Somersel County Council signed a three year rolling license agreement for the UBe of th8 slle lor certain Feriods during the year, and a good working rglalionship continues between the Trustees and volunteers working for Ihe charity and the staff of the Somersel ceiilre al Kilve Irolli which their aclivilie5 are managed, The Charity provided a Chaplaincy Service lo Kilve throughout the time when they were using the silè. An annual work party of volunleeTS normally carries out a great deal ol maint8n8nce work during the Easter holiday5. The full work party returned lo Camp in April 2024. A separate work paty e￿Cted a new Bosun's Store to replace one which was well past ils useful life. Flnanclal revl8W The charity 9enera18d an unrestricted surplus of £84.745 12023 - surplus £77.6401 during the year under review. The surplus arose due lo the extraordinary generosity of our supporters. Part of Ihis generosity was directed al the cost of the new Bosun's Store and additional solar panels on the roof of the main L)uilding. Generating an 8nnual surplus Is necessary lo enable us lo repay outstandin9 loans and lo maintain a steady programme ol improvements to the sile. Our sell employed Estate manager worked IhroLJghoul the year. carrying out sorne useful maintenance which would not normally have been possible. Our bltdgel fofecasl for 2024125 indicates a small deficit after charging depreGiatson on buildings. Given Ihal no maleiial new building work is anlicipaled during the next DNO years this silu81ion is considered salisfaclory. Restricted funds of £737.428 were held at the yèar end 12023 - £764.2711 mainly in relation to don81ions for th new Mess Hul. Annual depreaalion on the new Mess Hul Is debited lo this accDunt. THE GREAT WOOD TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Th* 7111sLeBs hovè chèrity"g ryp*..'I lity ie*en'QS sn 111)È w￿1￿ 1119 9Uidan￿ by Ihc frrtirit). Ccfflrrrtkion frit4r)rs taK4fi Inio atutsunl Irtcludi IFI nucluatrrt3 in 9*￿1•1 ftsJk*YJ inGomp. unlorth&n ¢XPoTrdrtur* i)n rrk¥y rLvl1lry￿ and rwxj :th ii.*g J'.0 and replac*2 biJihJing* ar>J I¥Tl¢ lo byD•. Tho TpJ¥tè&$ Il piuden.. to Jii r￿DIe An WJNaQit ko Ihitr¢ six i)wil￿. 9eneraf oApèndiruF¢ Tiw on rè*p.rv*￿￿ ilp IV4i•%V•fJ ￿n￿allY The tra&'p.*.r. Ii.Iwy # "the mJi(x¢ I i%k¥ lo tho cl)avil¥ [% ond thro f6aÉi&fieo trol w• in 5S*43 lo miLg8te e.i l[1 itric major . StructUTe. and n¥onagem*nt ol riifpl l* D cha￿t￿b￿ ctJm[tsyiiy limrt•d by gu*rnnrét iv.yislKK¢*J ￿ En￿aTr￿ ènd Wales 11 I urMJmod by ￿￿￿￿&1}duM ArtKIL. c¢A*sl(x¥ uyo membert of lxxywwy •nd guArantev iu c£xknbA• £1 In Ihv c¥wl of a wr¥JW r￿. Bowa TpJst*•* ￿nI1111¥[g¢S triQ cho..,. ' Ihis up a &ub-ctsmmill¢¢ building£ *JfMJ tJ¥ldlo mainien#nce dcvolcyM•nt An(J tri￿kUl1n￿. Day 10 ￿nn1￿1r1110n M d*wftYJ lo ￿￿￿. Andy Aéy)i)i:11 IxJ,s as _ . etl ÈiYolii¥4yJ Estjle 114Jntso¥Y Nèw truSlWG af£* y£"¢.(xuffjivd lo l¥Tr)*. kknlli il* chwrm•n. who o4JtyJo Ihom ihrauO1 ilie tr7du¢b'on PMQSL InL4i¥J¢¥ wth k•.y tsf*iJnlwr& Ersipioyev. involvement Applif2liWo fcf om010￿¥¥I￿￿ ijy disabl•d 4411.. ts￿lY LOTrSthroil. b1￿¢￿￿ in mThJ Ille •tsplI(IKI￿ r4 iwf ¢YriJwment '0411Thin vwFIty KYJnlJlLle* IwJl che aF)wprioi* Ir l• arranged 11 lth l>w wlicy ol I Brity LWI the tsvJlnir￿. Garew d￿￿1vi)in￿rI[ an¢ promLThtH.JTI r?f di¥ab*d y.. I￿￿ukI, f41 as W￿lts1*, br.+ Irt¢*bul io thai ot wndt)W6G. trusietrs, f*￿rt BPryts¥•a ty £lo•rd of Tnxtwtr. R*b4'd J H Sinvnons riuslee llated. THE GREAT WOOD TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GREAT WOOD TRUST I report on the financial statement5 of the charity for the year ended 31 March 2024, which ale set out on pages 4 to 14. Respectlve rÈsponslbllitie8 of trustees and examln•r The charity's Iruslees. who are also the direcltsrs of The Great Wood Trust for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider that an audit is not required lor this year under section 144121 of the Charities Act 2011 Ilhe 2011 Acll and that an independent examination is needed. Having satisfied myself that the charity 15 not subject to audit under Company law and is eligible for Independent examin81ion. Il is my responsitsilily to.. examine the financial stalemenis under section 145 of the 2011 Act.. (li} lo follow the procedures laid down in the general Direclions given by the Charity Commission under sects'on 1451511b} ol the 2011 Act., and lili} to stale whelh8r particular matters have come lo my attention. Bas1$ of Indèpèndent examlner's report My examination was carried out in accordance with the general Directions given by the Charity Cornmission. An examination includes a review ol the accounting records kept by tlie charity and a comparison of the financial slalemenls presented wllh those records. 1131so includes coiisideralion ol any unusual items or disclosures in the financial stalemenls. and seeking explanalions froni you as Iruslees cOn￿rni1)g any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the linanc1al statements present a 'true and lair view. ¥nd the report is limited lo those matters sel Out in the next statement, Independènt examlnor's Statement In conne¢lion with my examination. no matter has come to my attention,. lal which giv6s me reasonable cause lo believe that In any material respect the requirement8'. lil lo keep accoLJnling records in accordance with sectlon 386 ot the Companles Act 2006,. and {iil to prepare h'nancial slalements which accord with the accounting records, comply with the accounting requiretnenls ol section 396 of the Companies Act 2006 and wilh the methods and principles of the Sialemenl ol Recornmended Pr8cli¢e'. Accounting and Reporting by Charities.. hav8 not beén mel or Ibl lo which. in my opinion. attenlion should be dr8wn in ordèr to enable a proper understanding of the financial slalemenls to be rèached. Mr P J Barton FCCA ART Accountants Llmlted Chartered Certiflèd Accountants Ground Floor 11 Manvers Street Bath BA1 1JQ Dated. ....l.o... Oc:V-:E LOC THE GREATWOOD TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unre8tricted Ro$trlct6d funds funds 2024 2024 Totsl Unr88trl¢ted R88tricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations ancl legacies Charitable adivib.es Investments Other income 77,041 103,524 1,779 11,131 14.385 91426 103,524 1.779 31,131 94,313 92,825 32 16,435 32,448 126,761 92,825 32 36.435 20,000 20.000 Total Income 193,475 34,385 227,860 203.605 52,448 2S6.053 Expendlture on.. Charikbl8 activities 140,723 29,235 169,958 145.963 38,894 182,857 Total oxpendltura 140,723 29,235 169.958 145,963 .894 182,857 Net Income 52,752 5,150 57,902 57,642 15,554 73,196 Transfers be￿een fund8 31,993 {31,9931 20,000 120.0001 Net movement In funds 84,745 128,8431 57,902 77,642 14,446} 73.196 Reconclllatlon of fund¥'. Fund balanGes at 1 April 2023 432,525 764,271 1,196,796 354,883 768,717 1,123,600 Fund balanc•s at 31 March 2024 517.270 737.428 1,254.698 432,525 784.271 1.196,796 The slalem6nt ol financial aclivities Includes all gains and losses recognised in the year. Ail income and expenditure derive from continuing activities. THE GREAT WOOD TRUST BALANCE SHEET ASAT31 AIARCH 2024 zoz 2023 Notes Flxed th*￿1￿ ers Current assets 0£4?t4X6 C•*h al ojxl n har 13 1.181, 1.145,471 14 20.198 112.T96 32,Cfj2 89,209 121.271 Cyaitfn; 4mounts tallmg duè s*l¢hin on• yèar 15 ICQ,2041 1fi9.94SI Net 12.lY) Ttthl assvl3 current 11a￿116¢5 1.254.K 1.7￿.79e Inconw funds RCt5trLt￿ lunda UrirvoL￿1td tunas 17 737 4JFJ 517 ?Tn 764.271 1,198.T90 Tlw corrrf>any is to th• *x&nip1￿ frtyn Iho audit Tequlret￿n1 in secLi¢n 477 at lh• LtimFxth¢4E kl 2006. for lh• y•8r •)dÈd 31 M¥rrh 2024. athrNJthg8 tr￿'r re5wuitslili¥s fyi Ihat Ihe ioo%dA e¢ii*ty lilli of ttnd fty prwig fin*￿tal 'htKh gis• a tfuè arKJ l.*1 vf iho slo¢e of Ifwfj ijl it￿. rjynpany *1 U)tt imid ¥)1 ltr￿ finarKi•l yoai tirul r)1 lis iriGDming rorThurct4 ana ¥￿1¢￿11￿ ( rèwwc¢3, Inc*xJlnQ I1￿< IriGorTrF •r*J •wnditiJr*. T(* th¢ finanGial yea.- In xthrdAt)ty wILh Itx+ r•(ww•n)wts c4 s•.b￿ll￿￿ 194 and 39J and norytyy rh• Nuirenwnls vl Crxn￿nl*8 Act 20(%. re$alir￿ Iv fnoncwl aE4tthMoni* as aptyiub* 10 Ihe ￿¥￿t￿y. Tt* thyvo C•￿•d the obt4in an ¢1 Its firt¥inwl for tr* year m qiit¥l In *KwrdarK• C&cl￿n 470. TI￿e fjn•nubl ￿￿ttl7*171￿ huve bpen W•F4bfQd In ll¢rJxd•nr* with lh• ￿0v￿l￿n% appli¢ubl¢ to CC•71Pa￿5 ekJDIèCI ty sn*J corrlponies r*9MM .1 he ¥iai•m•nt• WQ¢* lh• 4 ru&t&** Rc7J'd J H SKnmonè Trust4• Company RtgJstr*l*on No. 06128047 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcle$ Charlty informatlon The Great Wood Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 103 Argenlia Place. Portishead. Bristol. BS20 7QS. 1.1 Accounting conventlon The financial statements have been prepared In accordance with the charity's governing documerst, Ihe Companies Act 2006 and Accounting and Reporting by Charities.. Statement ol Recommended Practi applicable lo charilies preparing their accounts in accordance with th6 Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191" The Charity is a Public Benefit Enlily as defined by FRS 102. Tho charity has taken advantage ol the provisions In the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slal6menl ol Cash Flows. The financjal sl8lemen18 are prepared in sterling. which is the functional currency of the Gharily. Monetary amounts in these lin8ncial slalements are rounded to th8 nearest £. Thè financial statements have been pr8pared under thè historical cost convention, Imodified lo include the revaluation of freehold properties and lo include investment properties and certairn financial instruments at fair valuel. The principal aGcounling policies adopted are sel out below. 1.2 Golng concern At the lime of approving the financial siaieinenls, the Iruslees have a reasonable expeclallon that the charity has adequate r6sources lo continue In operational oxlslence lor the lorèseeable lulure. Thus the Iruslegs continue ID adopt the going concern basis of aGcounling In preparing the fi'nancial statement$. 1.3 Charltable funds Unrestricted funds are available for use al tho discretion of the trustees in furtherance of their charitable obje¢liv&8. Restricted funds are subject lo sp8ufic conditions by donors or grantors as to how they may be used. The purposes and uses of the reslricled funds ar8 sel out In the notes to the financial slalements. Endowment funds are subject to sp8alic conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to Il after any pertormance conditions have been met, the amounts can be measured reliably, and il Is probable that income will be receivecl. C88h donations are rocognised on receipt. Other donations are recognised on¢e th8 charity has been nolilied ol the donation, unless performan￿ condition5 require deferral ol the amount. Income tax recoveratyle in relation to donations reTrived uiider Gift Aid or deeds ol covenant is recogiiised al the time of the donation. Legaoies are recognised on receipt or otherwise if the charity has been notified of an impending dislribulion, the amount is known, and receipt Is expected. 11 the amount is not known, the legacy is treated as a conlingenl asset. 1.5 Expendlture Liabilities are recognised as soon as there Is a legal or constructive obligation committing the charity to pay out resources. THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng poli¢les Iconllnuedl 1.6 Tanglblè fixed assets Tangible fixed assets are initially measured al cost and subsequently measured at cost or valuation, nel of depreaation and any impairment losses. Depffèciation is recognised so as lo write off the cost or valuation of assets less their residual values over Ilieir useful lives on the lollowng bases". Freohold land and buildings Property improvements Fixtures and fittings 510 50 years 10W4 slraighl line 25% slraighl lin8 The gain or loss arising on the disposal ol an asset is determined as the difference between the sale pro¢8eds and the carrying value of the asset. and is recognised in the statement of financial aclivilies. 1.7 lrnpalrment of flxod assets Al each reporting end dale. the charity reviews the carrying amounts of ils langible assels lo determine whclher there is any indication that Ih05e a55els have suffered an impalrmenl loss. If any such indication exists, the recoverablé amount of the asset Is eslimaled in order lo determino the exlgnt ol th8 impairment loss (if anyl. 1.8 C08h and cash equlvalent8 Cash and cash oquivalent$ include ¢a$h in hand. deposit8 held at call with banks, other 8hort-iem liquid investments with onginal maturities ol three months or185s, and bank overdrafts. Bank overdrafts are shown thin borrowings in current li8bililies. 1.9 Flnanclal Instruments The charity has elected lo apply the provisions ol Seclion 11 '8asic Financial Inslrvmenls, and Section 12 'Oiher Finan¢ial Instruments Issues, of FRS 102 lo all of Ils Ilnancial Instruments. Financial instruments are rè¢ognised in the ¢harity's balanGC sheet when the charity become8 paty lo the conlraclual provisions ol the inslruinenl. FSnan¢ial assets and liabilities are offset, with the nel amounts presented in the financial slatemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo sotlle on a nel bagis or lo realise th6 asset and sellle the liability 81multaneously. Bas1¢ Ilnanclal assets Basic Iinaiicial assets. which Include Qeblors and cash and bank balances, are initially measured al transaction price Induding transaction costs and are subsequently Garried at amortised cost US1ng the effectiv8 intefest method unless the arrangement conslilul8S a financing Iransaclion. where the transaction is meaSLired al the present value ol the future receipls discounted at a market rale of interest. Finanrj'al 8gsels cla86ified as receivablg within one year are not amortised. THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Icontlnupdl Bas1¢ Ilnancial Ilabllltles Basic financial liabilities, Including credilofs and bank loans are Iniually recognised at Ir8nssclion price unless the arrangement conslilule8 a financing Iransaclion. where Ihe debt inslfumenl is measured al the present value ol the ILJlure payments discounted at a market rale ol interest. Financial liabilities dassified as payable wilhln one year are not amortised. Debt instruments are subsequently carried at amort16ed cost, using the effective inlefesl rate method. Trade Creditors afe obllg8tions to pay for goods or services that have been acquired Sn the ordinary course ol operations from suppliers. Amounts payable are classified a5 currenl liabilities if payment is due within one year or less, 11 not, they are presented as non-¢urrent Iiabililies. Trade creditor5 are recognised initially at transaction price dl)d subsequently nieasurecl al atnortised cost using the effective Interest method. Dergcognition ol flnancl41 liabilitles Financial liabilities are doreLognised when the chayily's contractual obligations expire or are discharg8d or cancelled. 1.10 Employee beneflts The cost of any unused holiday entsllement is recognised in the period In which the employee's services are received. Termination benefits are recognised immedial&ly as an expense when the eharily is demonstrably commilled lo lefminale the employment of an employee or lo provide termination benefits. 1.11 Retlrement beneflts Payments lo defined contribution r&tiremenl benefll $d)emé$ 8r& charged as an expense as they fall dLte. cdtlcal a¢countlng e8tlmate8 and ludgemenis In the application of the charity's accounting policies, Ihe trustees gre required lo make judgements, e8b'mate8 and a35umplions about the carrying amolinl ol assets ai)d liabilities that are not readily apparent from other SoUr￿s. The eslimales and associated assumption5 are basea on hisloriGal expérience and other laclors that are considered lo b8 rel8v8nl. Actual re8ullS may differ from these estimates. The eslimales and underlying a$$umptions are reviewed on an ongoing basis. Revisions to accounting estimatés are rècognised In the period In wnich the eslimale is revised where the revision affects only that period, or In the period of the revision and future period5 whefe the revision affe¢ls both current and future periods. Income from donatlons and legaclei Unrestrlcled Re$trl¢ted funds fund3 2024 2024 Total Unre¥trl¢ted Restrlcted funds funds 2023 2023 Total 2024 2023 Donab'ons and gift8 77,041 14,385 91,426 94.313 32,448 126,761 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charltablg actlvltles Unre8trl¢ted Unre8trlctèd funds funds 2024 2023 Schools Sales within ¢harilable 8Ctivities 39,024 37,484 Banda Sales within charitable actsvilies 250 753 Llcence- SU Sale5 within charllable activities 30.000 20,000 Group bgoklng8 Sales within charilable activities 34,25D 34,588 103,524 92.825 Income from Inve8tmonts Unre8trlct8d Unrestrlcted lund8 lund• 2024 2023 Interest reGeiv8ble 1,779 32 Other Income Unrestricted Restricted fund8 funds 2024 2024 Total Unr88trlcted Re8trl¢ted fund$ lunds 2023 2023 Total 2024 2023 Ulililies re¢harge Grants - Slavanka 11.131 11,131 20.LIOO 16,435 16,435 20.QOO 20.OCX) 20,000 20,000 31,131 16,435 20,000 36,435 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable a¢tlvStle$ Charitable Charltable Expendlture Expenditure 2024 2023 Staff costs Depreciation and impairment Utilities before recharges Eslale maintenance Pool costs Phone Equipment repairs and consumables Cleaning Estate management Insurance Minisiry lo schools Sundry expenses SWYM Trainee Costs 8ur$aries 35,157 34,869 24,558 22,723 3,991 1.069 5.190 4,460 21,050 4.785 1.218 5,270 1.532 100 33,104 35,410 29,112 26,235 3,139 990 5,188 4,715 20,400 5,510 367 5,864 7,531 2,368 165,972 179,933 Share ol support costs Isee note 81 Share of governance cosls {see note 81 3,286 700 2,224 700 189,958 182,867 Analysls by fund Unreslricled funds Restricted funds 140,723 29.235 145.963 36,894 169.958 182,857 For the year ended 31 March 2023 Unrestricted funds Restricted funds 145,963 36,894 182,857 10 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support ¢o$ts allocated to actlvltles 2024 2023 Trustee expense5 Accountancy Governance costs 1.756 1,530 700 614 1,610 700 3,986 2.924 Analysed b?tween: Charitable activities 3,986 2,924 Net movement in funds 2024 2023 The net movement in funds is slated after char9ingllcredilingl., Depreciation ol owned tangible fixed asset8 34.869 35,411 10 Tru8tee$ None ol the Iruslees lor any persons connected with them) received any remuneration or benefi15 from the charity during the year apart from those disdosed below. Total expense3 were reimbursed lo two (2023 - thfeel Trustee during the year, amounting to £1.75612023 £6141. 11 Employee8 The average monthly number ol employees during the year was,, 2024 Numbar 2023 Number Employment cogts 2024 2023 Wages and salaries Other pension costs 31.841 3,316 29,921 3,183 35,157 33,104 There were no ernployees whose annual remuneration was more than £60.000. 12 Taxation The chafily 15 exempl from lax81ion on it5 activities because all its income is applied for charitable purpose$. 11 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets Freehold land Property Flxturos and and buildings Improveijient Total Cost Al 1 April 2023 Additions 1,328,268 40,100 46,895 25,238 27.158 1,402,321 6,028 71,366 At 31 March 2024 1.368,368 72.133 33,186 1,473,687 Depro¢latlon and Impairment Al 1 April 2023 Depreaation charged in the yea 216,126 29,665 25.559 2.871 15,165 2.333 256.850 34.869 Al 31 March 2024 245,791 28,430 17,498 291,719 Carrylng amount At 31 March 2024 1.122,577 43.703 15,688 1,181.988 Al 31 March 2023 1.112.142 21.336 11,993 1,145,471 14 Debtor8 2024 2023 Amounts lalllng due wlthln ono year: Other debtors Prepaymenls and accrued income 18,579 3.619 18,600 13,462 20.198 32,062 15 Credltors.. amounts falllng due wlthln one year 2024 2023 Borro¥Mngs Other taxallon and social security Payments received on account Accruals 2nd deferred income 20,000 3,952 39,580 6.414 8.129 38,814 13,321 60.264 e9,946 16 Retlrernent beneflt Schemes 2024 2023 Deflned contrlbutlon schemes Charg• lo profit or loss In r•4pgth of dolined contfibulion sehèm89 3,316 3,183 12 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Retlrement benefit schemes Continued) The charity operates a delined Gonlribulion pension scheme for all qualifying employees. The asséts of the scheme are held separately from those of the charity in an independently administered fund. 17 Restrlcted fund¥ The Testricied funds ol the charity comprise the unexpended balances of donations and grants held on trusl subject lo speafic conditions by donors 89 lo how Ihey may be used. At 1 April 2023 Incomlng Resourc0$ ro$ources expended Transfer8 At 31 March 2024 Purchase of sile Mess Hut building Youth worker support Eslale development fund Solar pancls Bursary fund 20.000 1,440 11,470 120.0001 117.6651 {11.4701 734,444 1.993 10.000 1,609 {1,9931 110,000) 1,475 1100) 2.984 764,271 34.385 129,2351 131.9931 737,428 ProvlouG year., At l Aprll 2022 Incoming rgsource8 Ro$ource8 expended Translers At 31 March 2023 Purchase of sile Mess Hut building Youth worker support Eslale development fund S¢lar panels Bursary fund 20.000 1,610 16,861 120,0001 4,000 762,724 117,6651 {16,861) 750,689 5,993 14,0001 1,993 10,000 1.609 10.000 3,977 12.3681 768,717 52.448 36,894 120.0001 764,271 18 Unre3trl¢tod fund$ The unrestricted funds of the charity comprise the unexpended balances ol donations and grants which are not subject lo specific cop.ditions by donors and grantors as lo how they may be used. These Include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes, At 1 Aprll 2023 Incomlng ro$ourceB Resources expended Transfers At 31 March 2024 General funds 432,525 193.475 {14Q,7231 31,993 517,270 THE GREAT WOOD TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Unrestricted funds {Continuedl Prevlous year: At 1 April 2022 Incomlng Resources resources expended Tran$fers At 31 March 2023 General funds 354,883 203,605 1145,9631 20,000 432,525 19 Analys16 of net assets between funds Unre¥trlrtod funds 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current as6etsllliabililiesl 447.524 69,746 734,444 2.984 1,181.968 72.730 517,270 737.428 1.254,698 Unrestrlcted funds 2023 Restrlcted lunds 2023 Total 2023 At 31 March 2023.. Tangible assets Current a6set511liabilitiesl 381,200 51,325 764,271 1.145,471 51,325 432.525 764,271 1.196,796 20 R&lated paity transactlons The Great Wood Trust is affiliated lo Scripture Union ISUI (Registered Charily no. 11202401 through Su's Associate Trust scheme. SU has no Control over the Charity's affairs, bul offers advice and support lor its various ministries. As disclosed in the Trustees, report prior lo 131h August 2014 the Charity managed the Great Wood camping site on behalf ol the former freeholders, SU under the terms ol a licence agreement. 14