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2024-03-31-accounts

Company registration number: 06697208 Charity registration number: 1129011

Swamp Circus Trust Limited

(A charitable company limited by guarantee.) Trustees' Report and Unaudited but Independently Examined Accounts for the year ended 31 March 2024

Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS

Swamp Circus Trust Limited Contents

Reference and Administrative Details………………………………….…………1 Trustees' Report…….………………………………………………….…………2 to 4 Independent Examiner's report……………………………………………………5 Statement of financial activities……………………………………………….…6 Balance Sheet…………………………………………………………………… 7 Notes to the financial statements……………………………………...………… 8 to 17

Swamp Circus Trust Limited Reference and Administrative Details

Charity name Swamp Circus Trust Limited
Charity registration number 1129011
Company registration number 06697208
Registered in England & Wales
Registered & Principal office 10 Lower Market Street
Penryn
Cornwall
TR10 8BG
Trustees Yasmin Anderson
Simon Barclay
Anthony Eldridge-Rogers
Mike Osbourn
Sarah Redfern
Key management personnel Brett Jackson - Manager
Bankers HSBC
Market Street
Falmouth
Cornwall
TR11 3AA
Solicitors Nalders Solicitors
49 Arwenack Street
Falmouth
Cornwall
TR11 3LB
Independent Examiner Debbie Risborough (FCCA)
Cornwall Community Accountancy Service
The Elms
61 Green Lane
Redruth
TR15 1LS

Page 1

Swamp Circus Trust Limited Trustees' Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and the unaudited financial statements for the year ended 31 March 2024

Objectives and activities

To provide or assist in the provision of facilities and training in the community. Including classes for juggling, mime, acrobatics, aerial, balance, dance, movement and conventional games and outdoor education and sports in the interests of vocation training, social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

The relief of unemployment for the benefit of the public in such ways as may be thought fit, including assistance to find employment regardless of age, sex,ability and origins.

To promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment.

All our charitable activities focus on providing support to all members of the community, young and old, to allow them either to enjoy the benefits of participating in, or attending arts events, and also in helping practitioners to reach their full potential, through training, help and support, allowing them to share their skills with others in the community.

Achievements and performance

  1. Circus training for young people and families of all ages with Community clubs in Penryn, Chyan Cultural Centre , St Day, Camborne and taster sessions in other areas.

  2. CircoKernow BTEC courses in Performing Arts and Organic Horticulture – The core work of accredited training for NEETS and those at risk of NEET – young people out of work and education. Prioritising areas of deprivation and those with SEN. BTECS (Pearsons) in Performing Arts and Organic Horticulture. Circo Kernow comprised:

  3. a. 1 day plus office based support of guided training per week in Falmouth.

  4. b. Outreach programme focused on risk of NEET learners in Schools / youth agencies.

  5. c. Classes and master classes.

  6. d. Additional keyskills.

  7. e. School events and shows eg Wellbeing Fair

  8. f. Taking on at least 2 trainee teachers on each of 3 x 3 month programs

  9. School and community projects

  10. Community and Educational Events eg Easter / Yoga Camp , Circus Camp, Well being Days eg For Volunteer Cornwall

Page 2

Swamp Circus Trust Limited Trustees' Report

Weekly:

3.Festival Sundays including meditation ( Apple Tree Sanga) / stress release / performing arts/ yoga and movement / gardening and orchard projects eg Roots and Seeds Organic Allotments / forest school and Forest skills courses eg Hazel hurdle making /tree planting / lunchtime discussions and shared food around the fire - support for participants eg electric minibus from station - progression to local events /volunteering / accredited courses eg BTECs

Circo Kernow: Continued with successful uptake of students and productions especially at Easter/summer where students had the opportunity to take part in the Chyan based big top school. Circo Kernow students had the opportunity to train for free at Swamp Circus Camp in August with qualified tutors from around the world. Partners eg CN4C / PLUS / Dracaena Centre

Schools: Work with over 25 schools, the University of Exeter and Falmouth University.

Environmental projects: e.g. collaboration with Chyan and Roots and Seeds plus BTEC Horticulture and Circus Sundays ( especially successful during Covid - outdoors at distance) Designing Future Vision and the new Community Forest with partners eg Forest for Cornwall, Cornwall Wildlife Trust

Community Events We performed at many community events including Truro Children's Day and Galowen Festival in Penzance , Faery Festival, Cornwall Air Ambulance.

Circo Kernow Big Top and Workshops

Local community shows and local festivals eg Great Estate Festival

Financial review

The income for the year has increased to £115,547 (£59,511 in 2023). The spend for the year of £98,832 (£69,430 in 2023) has led to a surplus of £16,715 (deficit of £9,919 in 2023).

Risk management

The Cornwall Council, PLUS and Positive People community provision representatives have examined the major risks to which the charity is exposed and are satisfied that systems are in place to minimise or mitigate these. The trustees will continue to review potential risks on a regular basis and will take further action to minimise or mitigate these risks as required. All Covid precautions have been reviewed with Environmental Health and The Cornwall Covid Team

Page 3

Swamp Circus Trust Limited Trustees, Report Struetllre) governance alld management Swamp Circus Trust Limited is a company limited by Guai'aiitee. It is also a registered charity with the Charity Comtnission. In the event that the charily is wuund up the members agree to contribute an ainount of not more than £1 O to the assets of the charity- Governillg do¢ument The charity is governed by.ils Memorandum and Articles of Association dated 25th January 1995. Trustee Responsibilities The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any timc Éhc financial position of the charity and to enable them to ensure that the financial statements Comply with the Charities Act 201 I, the Companies Act 2006 and.the applicable Statement of Recommended Practice. The Trustees are also i'esponsible for safeguarding the assets of the chai'ily and hence taking reasonable steps for the prevention and detection of fraud and other irrcgularities. In so far as the trustees are aware-. there is no relevant information of which the charitable company's independ¢nt examiner is unaware. and the trustees have taken all steps that they ought to have taken as trustees to make themselves aware of any relevant information and to establish that the independent exaTniner is aware of that infonnation. Small company provisions 'rhis report has been prepared in accordance with the small companies regime under the Cornpanies Act 2006. Approved by the Board on and signed on ils behalf by.. Simon Bqrclay Trustee Page 4

Swamp Circus Trust Limited Independent Examiner's Report

I report on the accounts of the company for the year ended 31 March 2024 which are set out on pages 6 to 17.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees consider that an audit is not required for this year under section 144(2) of the 2011 Act and that an independent examination is needed.

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:

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 statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

1) which gives me reasonable cause to believe that in any material respect the requirements: o to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 130 of the 2011 Act; and

o 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;

2) or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

....................................................... 28th September 2024 Debbie Risborough, Chartered Certified Accountant Date: Cornwall Community Accountancy Service The Elms, 61 Green Lane, Redruth, Cornwall TR15 1LS

Page 5

Swamp Circus Trust Limited Statement of Financial Activities

for the year ended 31 March 2024

Note
Income and endowments from:
Donations and
legacies
4
Charitable activities
5
Other income
6
Expenditure on:
Charitable activities
7
Other gains/(losses)
Total
Total
Net income/(expenditure)
before investment gains/(losses)
Net income/(expenditure)
Reconciliation of funds:
Net movement in funds
Total funds brought
Total funds carried
forward		 Unrestricte
d funds
2024
£
12,664
28,421
2,592
43,677
38,022
38,022
5,655
5,655
-
5,655
(1,875)
3,780		 Restricted
income
funds
2024
£
-
71,870
-
71,870
60,810
60,810
11,060
11,060
-
11,060
79,341
90,401		 Total
funds
2024
£
12,664
100,291
2,592
115,547
98,832
98,832
16,715
16,715
-
16,715
77,466
94,181		 Prior year
funds
2023
£
4,363
54,500
648
59,511
69,430
69,430
(9,919)
(9,919)
-
(9,919)
87,385
77,466

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities

Page 6

Swamp Circus Trust Limited Balanee Sheet As at 31 March 2024 2024 2023 Note Fixed Assets Tangible Assets 78,150 78,150 79,025 79,025 Current Assets D¢btoi's Cash at bank and in liand 12 1.149 22,179 23.328 3,846 8,426 12,272 Cre(litOl-5: Avnounts falling due within one year 13 (7,297) (7,831) Net current asscts 16,031 4,441 Total Assets less Current liahilities 94,181 83,466 Creditors: Amounts falling due al'tei. Inoi'e tlian one year 14 (6,000) Net Assets The fiinds of the charity: Restricted funds 90,401 79,341 Unrestrieted funds Uni'estl'iLfrd inLome funds Total iinrestricted funds 3,780 (1.875) 3,780 1,875 Total charity funds 77,466 The8e accounts liave been pi'epai'ed in accoi'dance with the special pi'ovisions of Part 15 of the Companies ALt 2006 relaLing lo small companies. For tlie year ended 30 Julie 2022 the Gompany was eiititled to exempÈion undei. section 477 of the Companies Act 2006 I'elating lo small compaiiies. The mcmbci's have not i'equii'ed the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The diiectoi-s acknowledge theii. responsibilitics for Lomplying with the requireinents of the Compaiiieg Act 2006 with respect to accounting i'ecoiyls and the pi'epai'&tion of accounts. Approved by the Boai'd on .2 - 0 ti - If and signed on its behalf by.. Simon Bai'clay Ti'ustee Page 7

Swamp Circus Trust Limited Notes to the Accounts

1 Accounting policies

1.1 Basis of accounting

The accounts have been prepared under the historical cost convention and in accordance with: - Accounting and Reporting by Charities Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard, applicable in the UK and Republic of Ireland (FRS102) second edition - October 2019 (effective 1 January 2019);

The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The charity constitutes a public benefit entity as defined by FRS102

1.2 Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

1.3 Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Designated funds are amounts that are allocated for specific purposes by the charity itself.

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Revaluation funds are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market value.

1.4 Income

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS102 SORP or FRS102.

Items of income are recognised and included in the accounts when all of the following criteria are met:

ꞏ the charity has entitlement to the funds;

ꞏ any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity;

ꞏ there is sufficient certainty that receipt of the income is considered probable; and

ꞏ the amount can be measured reliably.

Donations and legacies are voluntary income received by way of donations and gifts. It is included within the accounts when receivable and only when the charity has unconditional entitlement to the income.

Tax reclaims on donations and gifts are included in the accounts at the same time as the gift/donation to which it relates

Page 8

Swamp Circus Trust Limited Notes to the Accounts

Donated goods and services are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.

The value of services provided by volunteers is not included within the accounts.

1.5 Resources expended

Liabilities are recognised where there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and includes the attributable value added tax which cannot be recovered.

Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs are the those costs required to support the charity in carrying out its activities and meeting its objects.

Governance costs include costs associated with meeting the constitutional and statutory requirements of the Charity, including the preparation and examination of the statutory accounts, the costs of trustee meetings and other costs linked to the strategic management of the Charity including the cost of any legal advice to trustees on governance or constitutional matters.

1.6 Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised.

Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, which is reviewed annually. The rates used are as follows:-

Plant and machinery -10% straight line Motor vehicles -25% reducing balance Office equipment - 25% straight line

1.7 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.8 Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Page 9

Swamp Circus Trust Limited Notes to the Accounts

1.9 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Pension costs

The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.

1.13 Leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.

1.14 Statement of cash flows

The charity is exempt from preparing a statement of cash flows on the grounds that it is a small charity

2 Company Status

The charity is a company limited by guarantee and has no share capital. The charity is incorporated in England.

In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

The members of the charity are the trustees named on page 1.

Page 10

Swamp Circus Trust Limited Notes to the Accounts

3 Statement of Financial Activities - prior year

Income
Income and endowments from:
Donations and legacies
Charitable activities
Other
Expenditure
Expenditure on:
Investment Management Costs
Charitable activities
Net gains/(losses) on investments
Other gains/(losses)
Reconciliation of funds:
Total
Total
Net income/(expenditure) before
investment gains/(losses)
Net income/(expenditure)
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2023
£
4,363
40,600
648
45,611
48,679
48,679
(3,068)
(3,068)
(3,068)
1,193
(1,875)		 Restricted
income
funds
2023
£
-
13,900
-
13,900
20,751
20,751
(6,851)
(6,851)
(6,851)
86,192
79,341		 Total
funds
2023
£
4,363
54,500
648
59,511
-
69,430
69,430
(9,919)
-
(9,919)
-
(9,919)
87,385
77,466

Page 11

Swamp Circus Trust Limited Notes to the Accounts

4 Donations and Legacies

Unrestricted
funds
£
Appeals and donations
4,064
Donated services
8,600
12,664
5 Incoming resources from charitable activities
Unrestricted
funds
£
Grant Income:
Cornwall Community Foundation
-
Cornwall Council
-
National Lottery
-
Norman Family trust
-
Penryn Town Council
-
St James Place
-
Primary Purpose Trading:
Events Income
6,910
Circus Clubs
5,636
Fees for workshops etc
10,375
Hire of Big tops
5,500
28,421
6 Other income
Unrestricted
funds
£
Office sub let
2,592
2,592		 Restricted
income
funds
£
-
-
-
Restricted
income
funds
£
5,000
56,617
10,000
-
253
-
-
-
-
-
71,870
Restricted
income
funds
£
-
-		 Total
funds
2024
£
4,064
8,600
12,664
Total
funds
2024
£
5,000
56,617
10,000
-
253
-
6,910
5,636
10,375
5,500
100,291
Total
funds
2024
£
2,592
2,592		 Prior year
funds
2023
£
4,363
-
4,363
Prior year
funds
2023
£
-
-
9,900
1,500
-
2,500
6,110
9,292
16,098
9,100
54,500
Prior year
funds
2023
£
648
648

Page 12

Swamp Circus Trust Limited Notes to the Accounts

7 Expenditure on charitable activities

Direct costs
Artist fees
Teacher / Workshop costs
Sub-contract costs
Hire of product/goods
Training equipment
Hire of Big Top
Venue hire
Support costs
Wages and salaries
Pensions
Rent and rates
Light, heat and power
Insurance
Repairs and Renewals
Office administration
Marketing and promotion
Telephone and fax
Printing, postage and stationery
Cleaning
Travel and subsistence
Bank charges
Depreciation
Total Support Costs
Governance Costs
Accountancy fees
Governance costs
Total Governance Costs
Total Charitable Expenditure		 Unrestricted
£
5,301
4,621
166
1,310
301
5,276
-
16,975
6,494
106
1,513
795
1,675
644
4,026
1,716
1,650
397
86
71
122
-
19,670
387
990
1,377
38,022		 Restricted
£
10
14,997
1,241
110
5,585
-
1,557
23,500
27,490
429
-
-
-
-
1,423
2,241
-
1,270
-
60
-
4,375
37,310
-
-
-
60,810		 Total
2024
£
5,311
19,618
1,407
1,420
5,886
5,276
1,557
40,475
33,984
535
1,513
795
1,675
644
5,449
3,957
1,650
1,667
86
131
122
4,375
56,980
387
990
1,377
98,832		 Prior year
2023
£
4,578
15,671
3,205
1,200
-
6,900
-
31,554
13,698
210
5,230
1,162
1,724
-
4,228
1,945
1,467
774
19
181
213
6,059
36,910
371
595
966
69,430

Page 13

Swamp Circus Trust Limited Notes to the Accounts

8 Net income/ expenditure

Net income/expenditure is stated after charging:

Net income/expenditure is stated after charging:
2024 2023
£ £
Auditors' / Examiners' remuneration 990 595
Depreciation of tangible fixed assets 4,375 6,059

9 Staff costs

The average monthly number of employees during the year was as follows:

Staff in charitable activities
Volunteers (nos of people involved excluding Trustees)
The aggregate payroll costs of these persons were as follows:
Wages and salaries
Pensions
Total employee benefits received by key management personnel		 2024
Number
2
50
2024
£
33,984
535
34,519
17,474		 2023
Number
2
50
2023
£
13,698
210
13,908
19,913

No employee received emoluments in excess of £60,000 in either the current or the prior year.

The charity operates a defined contributions scheme with NEST. The pension cost shown represents the contributions payable by the charity to the scheme for the period.

The outstanding contributions at the end of the financial period were £658 (2022 £nil),

10 Trustees' remuneration and expenses

Trustees received remuneration or benefits in kind during the year as follows:

2024 2023
£ £
Anthony Eldridge-Rogers 1,418 175
Simon Barclay 50 -

Page 14

Swamp Circus Trust Limited Notes to the Accounts

11 Tangible fixed assets

Cost
As at 1 April 2023
Additions
As at 31 March 2024
Depreciation
As at 1 April 2023
Charge for the year
As at 31 March 2024
Net Book Value
As at 31 March 2024
As at 31 March 2023		 Land
and
building
s
£
62,715
-
62,715
-
-
-
62,715
62,715		 Plant and
machinery
£
67,319
-
67,319
67,319
-
67,319
-
-		 Motor
Vehicles
£
26,882
3,500
30,382
11,760
3,780
11,760
18,622
15,122		 Fixtures,
fittings
and
equipment
£
2,378
-
2,378
1,190
595
1,190
1,188
1,188		 Total
£
159,294
3,500
162,794
80,269
4,375
84,644
78,150
79,025
12 Debtors
Trade Debtors
Prepayments
Other debtors		 2024
£
806
60
283
1,149		 2023
£
2,935
-
911
3,846

13 Creditors: Amounts falling due within one year

Trade creditors
Taxation and social security
Other creditors
Accruals and deferred income
Bank loans		 2024
£
1,727
1,568
612
990
2,400
7,297		 2023
£
1,236
-
-
595
6,000
7,831

Page 15

Swamp Circus Trust Limited Notes to the Accounts

14 Creditors: Amounts falling due after more than one year

Trade creditors (more then one
year)
15 Analysis of funds
Restricted Funds
Development of Chyan Plen
Norman Family Trust
St James Place
The Clothworkers Foundation
Future vision - Cornwall Council
Future vision National Lottery
Cornwall Community Foundation
Other grants below £2000
General Funds
Unrestricted funds
Total Unrestricted funds
Total funds		 As at 1
April
2023
£
73,364
1,500
784
3,527
-
-
-
166
79,341
(1,875)
(1,875)
77,466		 Incoming
Resources
£
-
-
-
-
56,617
10,000
5,000
253
71,870
43,677
43,677
115,547		 Resources
Expended
£
(4,375)
(1,500)
(784)
-
(47,071)
(2,080)
(5,000)
-
(60,810)
(38,022)
(38,022)
(98,832)		 2024
£
-
-
Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-		 2023
£
6,000
6,000
As at 31
March
2024
£
68,989
-
-
3,527
9,546
7,920
-
419
90,401
3,780
3,780
94,181

Page 16

Swamp Circus Trust Limited Notes to the Accounts

16 Net assets by fund

Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Creditors: Amounts falling due
after more than one year
Net Assets		 Unrestricted
funds
5,634
5,443
(7,297)
-
3,780		 Restricted
income funds
72,516
17,885
-
-
90,401		 Total funds
78,150
23,328
(7,297)
-
94,181		 Prior year
funds
79,025
12,272
(7,831)
(6,000)
77,466

Page 17