Company Registration Number: 06692676 Charity Registration Number: 1128187
Hudson Fen Leisure Ltd
Company Limited by Guarantee
Unaudited Financial Statements
31[st] December 2024
Gemma Barnicoat
Floradene Back Lane Pott Row King’s Lynn Norfolk PE32 1BT
Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Contents
| Page | |
|---|---|
| Trustee’s annual report (incorporatng the director’s report) | 3 |
| Independent examiner’s report to the trustees | 5 |
| Statement of fnancial actvites (including income and expenditure account) | 7 |
| Statement of fnancial positon | 8 |
| Notes to the fnancial statements | 9 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Trustee’s Annual Report (Incorporatng the Directors Report)
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[st] December 2024.
Reference and administraton details
Registered charity name: Hudson Fen Leisure Ltd Charity registration number: 1128187 Company registration number: 06692676 Principle office and registered office: Floradene Back Lane Pott Row King’s Lynn Norfolk PE32 1BT The trustees: Kevin Kavanagh Paul Pimlott James Barnicoat Neville Jackson Shona Greig Lauren Fuller – joined May 2023 Sue Fraser – resigned March 2023 Brian Roper David Giles Norman Grief Tracy Widdows Adrian Widdows Company secretary: Mary Roper Accountant: Gemma Barnicoat Floradene Back Lane Pott Row King’s Lynn Norfolk PE32 1BT
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Structure, governance and management
Organisational structure
The charity is limited by guarantee and governed by its constitution.
Objectives and activities
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Strategic report
The following sections for achievements, performance and financial review form the strategic report of the charity.
Achievements and performance
The charity received amounts during the year from local Parish Councils, donations and trading activities i.e. car boot sales and Kevs Kafe. Kevs Kafe continued to grow in popularity, generated a significant surplus in 2024 and is valued village amenity often opening specifically for local events. The car boot sales have also generated a significant surplus in 2024 with the popularity of the car boots increasing over the season achieving over 100 stall holders each week and many more visitors.
The main achievements for the year were the continued development and promotion of Kevs Kafe, establishing it as an integral part of events held on the fen both by HFLL and other local community groups. Installation of new play equipment, a brand new play area was installed after significant effort in fundraising which was supported by other local charities. This replaced the old play area and is now fit for purpose and meets all the relevant health and safety regulations with a resin surface.
Financial Review
The charity has significantly reduced its cash reserves during 2024. This is due to the significant investment in the play area. The increase in car boots and growing popularity of the café have enabled the charity to maintain a healthy cash balance and there continues to remain enough reserves in the unrestricted fund to cover in excess of 3 years trading.
The trustees’ annual report and the strategic report were approved on Date 2024 and signed on behalf of the board of trustees by:
Kevin Kavanagh Trustee
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Independent Examiner’s Report to the Trustees of Hudson Fen Leisure Ltd
I report on the financial statements for the year ended 31[st] December 2024, which comprises of the statement of financial activities (including income and expenditure account), statement of the financial position and the related notes.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purpose of company law) are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income did not exceed and I am qualified to undertake the examination by being a qualified member of the Chartered Institute of Management Accountants.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning 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 accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statements.
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Independent examiner’s statement
In connection with my examination, no matter has come to my attention
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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a. to keep accounting records in accordance with section 386 of the Companies Act 2006, and
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b. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met, or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Gemma Barnicoat
Floradene Back Lane Pott Row King’s Lynn Norfolk PE32 1BT
Date
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Statement of Financial Actvites
(Including Income and Expenditure Account)
| Income & Endowments Donatons & Legacies Other Trading Actvites Investment Income Total Income Expenditure Expenditure on Raising Funds Expenditure on Trading Actvites Total Expenditure Net Income / Expenditure Reconciliaton of Funds Funds Brought Forward from Previous Years Net Income / Expenditure Current Year Total Funds to Carry Forward |
2024 Unrestricted Funds Restricted Funds Total Funds £ £ £ 5,807 61,993 67,800 19,728 19,728 321 321 25,856 61,993 87,849 13,719 87,541 101,260 7,475 7,475 21,194 87,541 108,735 4,662 -25,548 -20,886 16,346 8,240 24,586 4,662 -25,548 20,886 16,346 8,240 24,586 |
2023 Total Funds £ 6,338 17,083 295 |
|---|---|---|
| 23,716 | ||
| 7,215 4,617 |
||
| 11,832 | ||
| 11,832 | ||
| 12,702 11,882 |
||
| 24,586 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Statement of Financial Positon
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fixed Assets | 86,332 | 9760.67 |
| Current Assets | ||
| Cash in Bank and In Hand | 20,633 | 28,340 |
| Net Current Assets | 20,633 | 28,340 |
| Total Assets Less Current | ||
| Liabilites | 106,965 | 28,340 |
| Funds of the Charity | ||
| Restricted Funds | 3,554 | 8,241 |
| Unrestricted Funds | 103,410 | 20,099 |
| Total Charity Funds | 106,964 | 28,340 |
For the year ended 31[st] December 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees’ responsibilities:
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The shareholders have not required the charity to obtain an audit of its financial statements for the year in question in accordance with section 476.
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The trustees 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 were approved by the board of trustees and authorised for issue on date and are signed on behalf of the board by:
Kevin Kavanagh
Trustee
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024 Notes to the Financial Statements
1. General Information
- a. The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Floradene, Back Lane, Pott Row, King’s Lynn. Norfolk. PE32 1BT
2. Statement of Compliance
- a. 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 Standards applicable in the UK and Republic or Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting Policies
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a. Basis of Preparation
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i. The financial statements have been prepared on a cash basis.
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ii. The financial statements are prepared in pound sterling, which is the currency of the entity.
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iii. Fixed assets over £1,000 are depreciated over their useful life on a straightline basis.
b. Going Concern
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i. There are no material uncertainties about the charity’s ability to continue.
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c. Judgements and Key Sources of Estimation Uncertainty
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i. There are no judgements or estimations for uncertainty within these accounts.
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d. Fund Accounting
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i. Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.
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ii. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
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iii. Restricted funds are subject to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of the two subclasses: restricted income funds or endowment funds.
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
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e. Incoming Resources
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i. 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.
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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.
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Legacy income is recognised when receipt is probable and entitlement is established.
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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 estimated resale value can be reliably measured. No amounts are included for the contribution of general volunteers.
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Income from contracts for the supply of services is recognised with delivery of the contracted service. This is classified as unrestricted funds unless there is contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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f. Resources Expended
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i. 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:
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Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities and the sale of donated goods.
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Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities 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.
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Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
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ii. All costs are allocated to expenditure categories reflecting the use of resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
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g. Financial Instruments
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i. A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
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ii. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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iii. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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iv. Debt instruments are subsequently measured at amortised cost.
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v. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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vi. Other financial instruments including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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vii. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities with the exception of hedging instruments in a designated hedging relationship.
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viii. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment, an impairment loss is recognised under appropriate heading in the statement of financial activities in which the initial gain was recognised.
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ix. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
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x. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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h. Limited by Guarantee
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i. The liability of members is limited to £TBC in the case of winding up.
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Statement of Income and Expenditure
i. Donations and Legacies
| Note Income & Endowments Donatons & Legacies Donatons P C Support Car Boot & Bucket Donatons Grants Hook a Duck Stalls Note Income & Endowments Donatons & Legacies Donatons P C Support Car Boot & Bucket Donatons Grants Hook a Duck Stalls Car Show |
2024 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 1,150 26,500 27,650 10,200 10,200 4,489 4,489 25,293 25,293 168 168 |
|---|---|
| 5,807 61,993 67,800 |
|
| 2023 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 175 175 200 1,039 1,239 3,718 3,718 900 900 147 147 160 160 |
|
| 4,400 1,939 6,338 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
j. Other Trading Activities
| Not e Other Trading Actvites Kevs Kafe Car Boot Stalls Note Other Trading Actvites Kevs Kafe Car Boot Stalls |
2024 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 9,513 9,513 10,215 10,215 19,728 19,728 2023 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 8,503 8,503 8,580 8,580 |
|
|---|---|---|
| 17,083 17,083 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
k. Investment Income
Investment Income Bank Interest
Investment Income Bank Interest
| Not e Not e |
2024 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 321 321 |
|---|---|
| 321 - 321 |
|
| 2023 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 295 295 |
|
| 295 295 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
- l. Costs of Raising Donations and Legacies
| Note Expenditure on Raising Funds Donatons - Rent Donatons - Admin Donatons - New Equipment Donatons - Repairs & Maintenance Donatons - Safety Inspecton Donatons - Insurance Donatons - Depreciaton Note Expenditure on Raising Funds Donatons - Rent Donatons - Admin Donatons - Event Costs Donatons - New Equipment Donaton - Portacabin Refurbishment Donatons - Repairs & Maintenance Donatons - Safety Inspecton Donatons - Insurance Donatons – Depreciaton |
2024 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 60 60 158 158 87,541 87,541 1,305 1,305 162 162 1,249 1,249 10,785 10,785 |
|---|---|
| 13,719 87,541 101,260 |
|
| 2023 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 60 60 246 246 916 916 356 400 756 70 70 1,763 1,763 156 156 1,039 1,039 2,210 2,210 |
|
| 5,776 1,439 7,215 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
m. Costs of Trading Activities
| Note Expenditure on Trading Actvites Kevs Kafe - Provisions Kevs Kafe - Cleaning Kevs Kafe - Utlites Kevs Kafe – Business Rates Kevs Kafe - Depreciaton Car Boot Stalls - Toilets |
2024 Unrestricte d Funds Restricted Funds Total Funds £ £ £ 3,897 3,897 237 237 1,082 1,082 431 431 185 185 |
|---|---|
| 5,831 5,831 |
|
| 1,644 1,644 |
|
| 7,475 7,475 |
| Note Expenditure on Trading Actvites Kevs Kafe - Provisions Kevs Kafe - Cleaning Kevs Kafe - Utlites Kevs Kafe - Fixtures & Fitngs |
2023 Total Funds £ 3,609 148 735 125 |
|---|---|
| 4,617 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
n. Independent Examiners Fees
- i. The independent examination was carried out free of charge in 2023 and 2024.
o. Staff Costs
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i. There are no staff costs for the 2023 and 2024 financial years.
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ii. The headcount for the 2023 and 2024 financial year was nil.
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iii. There were no employee benefits paid in the 2023 and 2024 financial years.
p. Trustee Remuneration and Expenses
- i. During the financial years 2023 and 2024 no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
q. Analysis of Charitable Funds
Analysis of Charitable Funds
| Analysis of Charitable Funds |
|||||
|---|---|---|---|---|---|
| Expenditur | Transfer | ||||
| 01.01.24 | Income | e | s | 31.12.24 | |
| Unrestricted | £ | ||||
| Funds | £ | £ | £ | £ | |
| General Funds | 20,099 | 25,856 | 10,225 | -18,652 | 17,079 |
| Fixed Assets | 9,761 | 10,970 | 87,541 | 86,332 | |
| Restricted Funds | |||||
| Fund 1 - Development | |||||
| Fund | 10,450 | 61,993 | -68,889 | 3,554 | |
| Expenditur | |||||
| 01.01.23 | Income | e | 31.12.23 | ||
| Unrestricted | |||||
| Funds | £ | £ | £ | £ | |
| General Funds | 20,686 | 21,777 | 22,364 | 20,099 | |
| Fixed Assets | 11,970 | 2,210 | 9,761 | ||
| Restricted Funds | |||||
| Fund 1 - Development | |||||
| Fund | 7,741 | 1,939 | 1,439 | 8,241 |
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Hudson Fen Leisure Ltd Company Limited by Guarantee Year Ended 31[st] December 2024
Notes to the Financial Statements
- i. Analysis of net assets between funds
| Unrestricte | Restricte | Total | ||
|---|---|---|---|---|
| d Funds | d Funds | Funds | ||
| £ | £ | £ | ||
| Current Assets | 2024 | 17,079 | 3,554 | 20,633 |
| Current Assets | 2023 | 20,099 | 8,241 | 28,340 |
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