2022-03-31-accounts - Cotswold Lakes Trust

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CONTENTS		Page
Charity Information
Chairman's Foreword		3-4
Trustees' Report		5-15
Independent Examiner's	Report	15
Consolidated Statement	of Financial Activities
Group Balance Sheet		17-18
Charity Balance Sheet		19
Consolidated Statement	of Cash Flows	20
Notes tothe Financial Statements		21-43

FOR THE Y	EAR	ENDED 31MARCH 2022
Biodiversity	and	natural environment
		we manage our sites sensitively, ensuring that their importance	for wildlife	is conserved and wherever
		possible enhanced.
		we aim to carry out landscape-scale wildlife conversation and	enhancement	projects at	our sites and
		across the Cotswold Water Park in partnership with others.
		we provide advice to mineral companies, landowners and local communities		on wildlife issues
Recreation	and	access
		wherever possible we encourage the public to access our sites for recreational		purposes.
		we pursue area wide initiatives to improve responsible access to and around		the Cotswold	Water Park.
Education
		we aim to engage increasingly with visitors, the local community,	schools and universities		to promote a
		greater understanding and appreciation of the heritage, wildlife	and landscape of the Cotswold Water
		Park. This will encompass, among other things, migratory birdlife, rich fossil finds in the			sedimentary
		sand and gravel, precious wildflower meadows, the area's biodiversity as well as the health and well-
		being to be found in the outdoors.
Promotion
		in supporting the Cotswold Water Park, we are the primary gateway for		hundreds of	thousands of
		visitors, residents, leisure operators, walkers, cyclists, birders, anglers, dreamers and nature lovers on
		land or water. We want all visitors to value their time here. As	a charity we	encourage the benefits to
		be gained from the use ofour own destination sites.
Membership
		we are a small team with a big-hearted membership. Members	enjoy free parking at our car parks from
		where they are able to visit our bird hides, enjoy talks and events such as		dawn chorus	walks, fossil
		hunts, and also lend a hand on our crucial conservation projects.	You too can	join and take	part.
Resilience
~		we are not central or local government funded. We work with donors, charitable funds, individuals,
		companies, and our membership. In addition, we operate our	own sites commercially to make sure
		collectively we are here to develop the Cotswold Water Park for	the benefit ofwildlife and		people.
		we investigate the acquisition of new sites in order to protect and enhance		their potential	biodiversity
		value and/or recreational benefits.

				Restricted	Unrestricted	Total	Total
				funds	funds	funds	funds
				2022	2022	2022	2021 restated
			Note	6	6	6
Income from:
Donations				10,104	18,056	28,160	29,408
Charitable activities				66,703	26,689	93,392	69,471
Other trading activities:
Cotswold Water Park	Society Limited				473,448	473,448	241,161
Cotswold Water Park	Estates &
Ranger Services Ltd					13,761	13,761	17,937
Other income					165	165	1,333
Total income				76,807	532„119	608,926	359,310
Expenditure on:
Raising funds:
Cotswold Water Park	Society Limited				190,334	190,334	55,058
Cotswold Water Park	Estates 8
Ranger Services Ltd					6,501	6,501	16,160
Charitable activities			7	42,299	318,773	361,072	262,016
Total expenditure				42,299	515,608	557,907	333,234
Net income before net gains on
investments				34,508	16,511	51,019	26,076
Fair value movements	on revaluation	of
investment property							500,000
Net movement in funds before other
recognised gains				34,508	16,511	51,019	526,076
Other recognised gains:
Gains on revaluation offixed assets							1,103,590
Net movement in funds				34,508	16,511	51,019	1,629,666
Reconciliation offunds:
Total funds brought forward				114,930	2,737,557	2,852,487	1,222,821
Net movement in funds				34,508	16,511	51,019	1,629,666
Total funds carried forward				149,438	2,754,068	2,903,506	2,852,487

							2021
					2022		restated
			Note		6
Fixed assets
Tangible assets			12		2,766,711		2,776,159
Investments			13		1,300,000		1,300,000
					4,066,711		4,076,159
Current assets
Debtors			14	205,426		103,325
Cash at bank and	in hand			170,121		105,496
				375,547		208,821
Creditors: amounts	falling due within one
year			15	(390,071)		(234,241)
Net current liabilities					(14,524)		(25,420)
Total assets less	current liabilities				4,052,187		4,050,739
Creditors: amounts	falling due after more
than one year			16		(1,148,681)		(1,198,252)
Net assets excluding		pension asset			2,903,506		2,852,487
Total net assets					2,903,506		2,852,487
Charity funds
Restricted funds			18		149,438		114,930
Unrestricted funds			18		2,754,068		2,737,557
Total funds					2,903,506		2,852,487

					2022		2021
				Note	6
Fixed assets
Tangible assets				12	18,076		13,886
Investments				13	12		15
					18,088		13,901
Current assets
Debtors				14	62,389	35,801
Cash at bank	and	in hand			103,709	103,925
					166,098	140,726
Creditors: amounts		falling	due within one
year				15	(301,515)	(187,837)
Net current	liabilities				(135,417)		(47,111)
Total assets	less	current		liabilities	(117,329)		(33,210)
Net liabilities	excluding		pension asset		(117,329)		(33,210)
Total net assets					(117,329)		(33,210)
Charity funds
Restricted funds				18	149,438		114,930
Unrestricted	funds			18	(266,767)		(148,140)
Total funds					(117,329)		(33,210)
The Charity's	net movement			in funds for the year was	E(84,119)(2021 - f(6,580)).

		CONSOLIDATED	CONSOLIDATED	STATEMENT OF CASH FLOWS	STATEMENT OF CASH FLOWS
		FOR THE YEAR ENDED 31 MARCH 2022
					Note	2022 F	2021f
Cash flows from operating		activities
Net cash used in operating	activities				21	127,602	38,977
Cash flows from investing		activities
Purchase oftangible fixed assets						(7,407)	(3,139)
Net cash used in investing		activities				(7,407)	(3,139)
Cash flows from financing		activities
Cash inflows from new borrowing							50,849
Repayments of borrowing						(16,940)	(14,213)
Net cash (used in)/provided		by financing	activities			(16,940)	36,636
Change in cash and cash		equivalents in	the	year		103,255	72,474
Cash and cash equivalents		at the beginning	ofthe year			66,866	(5,608)
Cash and cash equivalents		at the end of	the	year	22	170,121	66,866
The notes on pages 21 to43form part ofthese				financial statements

			Restricted	Unrestricted	Total
			funds	funds	funds
			2022	2022	2022
			6		F
Donations			10,104		10,104
Membership	subscriptions			18,056	18,056
			10,104	18,056	28,160
				Unrestricted	Totat
				funds	funds
				2021f	2021f
Donations				4,492	4,492
Membership	subscriptions			15,294	15,294
Government	grant income - Coronavirus	Job Retention Scheme		9,622	9,622
				29,408	29,408

	Restricted	Unrestricted	Total
	funds	funds	funds
	2022	2022	2022
	6	F	6
Grant income	62,560		62,560
Map and website	4,143	20,769	24,912
Events		5,920	5,920
	66,703	26,689	93,392

	Restricted	Unrestricted	Total
	funds	funds	funds
	2021 f	2021 8	2021f
Grant income	52,212	7,987	50,199
Map and website		14,584	14,584
Events		(5,312)	(5,312)
	52,212	17,259	59,471

		Unrestricted	Total
		funds	funds
		2022	2022
		F	F
Other	income	165	165
		Unrestricted	Total
		funds	funds
		2021	2021f
Other	income	1,333	1,333

		Restricted	Unrestricted	Total
		funds	funds	funds
		2022	2022	2022
		6	F	6
Environmental	activities	42,299	318,773	361,072

Restricted	Unrestricted	Total
funds	funds	funds
2021 f	2021	2021
64,723	197,293	262,016

Activities
undertaken	Support	Total
directly	costs	funds
2022	2022	2022
6		F
68,089	292,983	361,072

		Activities
		undertaken	Support	Total
		directly	costs	funds
		2021f	2021 6	2021f
Environmental	activities	47,515	214,501	262,016

Independent	Examiner	Fees	Fees
								2022 F	2021f
Fees payable	to the Charity's		auditor		in respect of:
For independent examination			services					1,900	1,820
For audit services								7,600	3,800
For non-audit	services							5,325	4,800
Staff costs
						Group	Group	Charity	Charity
						2022 F	2021 f	2022 f	2021f
Wages and salaries						171,570	143,468	171,570	143,468
Social security costs						15,153	8,711	15,153	8,711
Contribution to defined		contribution		pension
schemes						5,764	4,651	5,764	4,651
						192,487	156,830	192,487	156,830

Group	Group
2022	2021
No.	No.

			Long-term	Short-term
	Freehold		leasehold	leasehold
	property	f	property f	property F	Equipment	Totalf
Cost orvaluation
At 1 April 2021	1,835,000		856,000	110,233	71,312	2,872,545
Additions					7,407	7,407
At 31 March 2022	1,835,000		856,000	110,233	78,719	2,879,952
Depreciation
At 1 April 2021				50,666	45,720	96,386
Charge for the year			8,560	2,939	5,356	16,855
At 31 March 2022			8,560	53,605	51,076	113,241
Net book value
At 31 March 2022	1,835,000		847,440	56,628	27,643	2,766,711
At 31March 2021	1,835,000		856,000	59,567	25,592	2,776,159

12.	Tangible fixed assets (continued)
	Charity
		Plant and
		machinery
		F
	Cost or valuation
	At 1 April 2021	35,022
	Additions	7,408
	At 31 March 2022	42,430
	Depreciation
	At 1 April 2021	21,136
	Charge for the year	3,218
	At 31 March 2022	24,354
	Net book value
	At 31 March 2022	18,076
	At 31March 2021	13,886

Fixed asset investments
		Investment
		Land
Group		6
Cost or valuation
At 1 April 2021		1,300,000
At 31 March 2022
		1,300,000
The historical cost ofthe investment	is F25,000 (2021rf25,000).
		Investments
		in
		subsidiary
		companies
Charity		F
Cost orvaluation
At 1 April 2021		12
At 31 March 2022
		12

Names					Company	Principal activity		Class of	Holding
					number			shares
Cotswold	Water	Park	Estates	&Ranger	06149244	Trading activities		Ordinary	100'/o
Services	Ltd					relating to the Charity
Cotswold	Water	Park	Society	Limited	IP28479R	Management of		Ordinary	67/o
						biodiversity within,	and
						the promotion of	and
						education in respect
						ofthe Cotswold Water
						Park

The financial results ofthe subsidiaries for	the year were:
Names	Income 6	Expenditure	f	Profit/(Loss) for the year	Net assets/(liabi
				6	lities)
					6
Cotswold Water Park Estates &	13,761	31,725		(17,964)	(95,632)
Ranger Services Ltd
Cotswold Water Park Society Limited	473,448	320,334		153,114	3,116,495

		Group	Group	Charity	Charity
			2021		2021
		2022 6	restated	2022 6	restated f
Due within one year'
Trade debtors		184,869	94,121	5,108	4,212
Amounts owed by group undertakings				44,209	25,456
Other debtors		1,142	1,645	468	522
Prepayments	and accrued income	19,415	7,559	12,604	6,611
		205,426	103,325	62,389	36,801

				Group	Group	Charity	Charity
				2022	2021	2022	2021
				6	5	6	5
Bank overdrafts					38,630
Bank loans				21,284	20,050
Trade creditors				127,824	53,875	36,613	19,788
Amounts	owed to group undertakings					197,083	97,436
Other taxation and		social security		11,660	36,788	11,660	35,859
Pension	fund			127,200	7,200
Accruals	and deferred income			102,103	67,698	56,159	34,754
				390,071	234,247	301,515	187,837
						Group	Group
						2022f	2021
Deferred	income at 1 April					16,387	6,545
Resources deferred		during the year				18,600	16,387
Amounts	released	from previous	periods			(16,387)	(6,545)
Deferred	income at 31 March					18,600	16,387

		Group	Group
		2022	2021
		6
Bank loans		115,472	133,646
Otherloans		852,509	757,870
Pension	liability	180,700	306,736
		1,148,681	1,198,252

Included within loans due after more than one year are	amounts falling due as follows:
	Group	Group
	2022	2021f
Between one and two years
Bankloans	21,605	21,043
Between two and five years
Bankloans	67,052	66,493
Over five years
Bank loans	26,815	46,110
Otherloans	852,509	757,870

										Group	Group
										2022f	2021f
Financial	assets
Financial	assets	measured	at	fair	value	through	income	and	expenditure	1,300,000	1,300,000

								Balance at
					Balance at 1			31 March
					April 2021	Income	Expenditure	2022
					6	F	6	6
Unrestricted funds
Reserves					2,737,557	532,119	(515,608)	2,754,068
Restricted funds
Cotswold Water Park Ball	- Auction/Raffle				10,210		(2,997)	7,213
Nationwide Grant - River	Coin		works		26			26
Growing our Communities		Fund			6,835		(4,042)	2,793
CWP Community Environmental
Improvements Fund					1,418			1,418
CWP WILD Project (EA)					18,655			18,655
Neigh Bridge Country Park		- New play area			29,519			29,519
Neigh Bridge Country Park		- Landscape		plan	4,353			4,353
Water vole recovery project (Hills LCF)					6,103	12,000	(10,073)	8,030
Water vole recovery project (Lower Mill
estate)					2,500		(1,200)	1,300
Tarmac					271			271
Shorncote - Thames Water					12,559		(1,500)	11,059
Cleveland Lakes volunteer		hub			4,837	160	(4,997)
Top Pit - landscape plan					4,353			4,353
Nature reserves guide					4,837			4,837
National Lottery Heritage	Fund		- Transforming
the CLT					5,483	14,160	(11,580)	8,063
Thames Water - Covid Relief					3,000		(3,000)
Beaver Bus (formerly Perch Pod)						15,487	(879)	14,608
Cleveland Lake Enhancement			- Hills			30,000	(1,908)	28,092
Summerfield Trust						5,000		5,000
Other smaller restricted funds					(29)		(123)	(152)
					114,930	76,807	(42,299)	149,438
Total offunds					2,852,487	608,926	(557,907)	2,903,506

							Balance at
			Balance at			Gainsr	31March
			1 April 2020f	Income	Expendituref	(Losses)f	2021f
Unrestricted funds
Reserves			1,095,380	307,098	(268,511)	1,603,590	2,737,557
Restricted funds
Cotswold Water Park Ball-
Auction/Raffle			10,210				10,210
Nationwide Grant - River Coin
works			26				26
Growing our Communities	Fund			6,835			6,835
CWP Community Environmental
Improvements Fund (CDC)			1,418				1,418
CWP WILD Project (EA)			18,655				18,655
Clayhill car park improvements			4,378		(4,378)
Neigh Bridge Country Park		- New
play area			29,519				29,519
Neigh Bridge Country Park-
Landscape plan			4,353				4,353
Kickstart Tourism Fund				2,958	(2,958)
Water vole recovery project		(Hills
LCF)			10,797		(4,694)		6,103
Water vole recovery project		(Lower
Mill estate)				2,500			2,500
Tarmac			271				271
Shorncote to River Thames
Wetland Connections			2,173		(2,173)
Shorncote - Thames Water			14,074		(1,515)		12,559
Cleveland Lakes volunteer		hub	4,837				4,837
Top Pit - landscape plan			4,353				4,353
Nature reserves guide			4,837				4,837
National Lottery Heritage Fund-
Transforming the CLT			17,569		(12,086)		5,483
National Lottery Heritage Fund-
Emergency Funding				22,500	(22,500)
Thames Water - Covid Relief				17,419	(14,419)		3,000
Other smaller restricted funds			(29)				(29)

							Balance at
			Balance at			Gains&	31March
		1	April 2020f	income f	Expenditure f	(Losses)	2021f
			127,441	52,212	(64,723)		114,930
Total	offunds		1,222,821	359,310	(333,234)	1,603,590	2,852,487

						Balance at
						31March
		Balance at	Income		Gainsr	2021
		1 April 2020f	(restated)f	Expendiiuref	(Losses)f	(restated)
General funds		1,095,380	307,098	(268,511)	1,603,590	2,737,557
Restricted	funds	127,441	52,212	(64,723)		114,930
		1,222,821	359,310	(333,234)	1,603,590	2,852,487

Analysis of net assets between funds - current	year
	Restricted	Unrestricted	Total
	funds	funds	funds
	2022 f	2022	2022f
Tangible fixed assets		2,766,711	2,766,711
Fixed asset investments		1,300,000	1,300,000
Current assets	149,438	226,109	375,547
Creditors due within one year		(390,071)	(390,071)
Creditors due in more than one year		(1,148,681)	(1,148,681)
Total	149,438	2,754,068	2,903,506

		Restricted	Unrestricted	Total
		funds	funds	funds
		2021	2021	2021
		restated	restatedf	restated 8
Tangible	fixed assets		2,776,159	2,776,159
Fixed asset investments			1,300,000	1,300,000
Current	assets	114,930	93,891	208,821
Creditors	due within one year		(234,241)	(234,241)
Creditors	due in more than one year		(1,198,252)	(1,198,252)
Total		114,930	2,737,557	2,852,487

				Group	Group
					2021
				2022	restated
Net income for the year (as per Statement			of Financial Activities)	51,019	526,076
Adjustments for:
Depreciation charges				16,855	25,359
Gains/(losses) on investments					(500,000)
Increase in debtors				(102,101)	(43,015)
Increase in creditors				161,829	30,557
Net cash provided	by operating	activities		127,602	38,977

				Group	Group
				2022f	2021f
Cash	in	hand		170,121	105,496
Overdraft		facility repayable	on demand		(38,630)
Total	cash and cash equivalents			170,121	66,866

Group	Group
2022	2021f
6,250	8,079