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2025-03-31-accounts

Company registration number: 06697208 Charity registration number: 1129011

Swamp Circus Trust Limited

A Charitable Company Limited by Guarantee Annual Report and Unaudited but Independently Examined Accounts for the year ended 31 March 2025

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 to 8 Notes to the financial statements……………………………………...………… 9 to 17

Swamp Circus Trust Limited Reference and Administrative Details

Swamp Circus Trust Limited

Charity name Charity registration no. 1129011 Company registration no. 06697208

Registered in England & Wales

Registered & Principle 10 Lower Market Street Office Penryn Cornwall TR10 8BG

Trustees Yasmin Anderson (Resigned 19 December 2025) Simon Barclay (Resigned 4 January 2025) Stephanie Jackson (Appointed 5 February 2025, resigned 1 December 25) Caroline Nichol (Appointed 16 January 2025) Anthony Rogers Mike Osbourn (Resigned 12 November 2024) Sarah Redfern (Resigned 4 January 2025) Andrew Sealey (Appointed 11 November 2024) Emma Stacey (Appointed 11 November 2024)

Key management Brett Jackson - Manager personnel Bankers HSBC Market Street Falmouth Cornwall TR11 3AA Andrew Harry CGMA MiP Independent Examiner 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 2025

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, Truro, Falmouth and taster sessions in other areas often with community partners

  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. Notable partnership with Penryn College.

Circo Kernow comprised:

Page 2

Swamp Circus Trust Limited Trustees' Report

Weekly Activities

  1. Roots and Seeds gardening program for all especially those needing mental health support

  2. Cornwall Community Circus - Children from the circus clubs had the opportunity to perform on stage at local events.

  3. Adult aerial skills and gymnastics

  4. 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

  5. Chyan Community Forest - Tree Planting and courses / creation of Forest Trail / includes agroforest with Forest for Cornwall

Circo Kernow: Continued with successful uptake of students and productions especially at Easter/summer where students had the opportunity to take part in the Camps. Circo Kernow students had the opportunity to train for free at Swamp Circus Camp in August with qualified tutors from around the world. Supported by Community partners

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. 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 £146,190 ( £115,547 in 2024). The spend for the year of £157,431 (£98,832 in 2024) has led to a deficit of £11,241 (surplus of £16,715 in 2024). Claims made for the Future Vision project are yet to be fully reconciled. This means that the restricted and unrestricted funds are shown on an estimated basis.

Structure, governance and management

Swamp Circus Trust Limited is a Company Limited by Guarantee. It is also a Registered Charity with the Charity Commission. In the event that the Charity is wound up the Members agree to contribute an ammount of not more than £10 to the assets of the Charity.

Page 3

Swamp Circus Trust Limited Trustees' Report

Governing document

The Charity is governed by the meomorandum and Articles of Association dated 25th January 1995.

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.

Trustee Responsibilities

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Companies Act 2006 and the applicable Statement of Recommended Practice. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

 there is no relevant information of which the charitable company’s independent 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 examiner is aware of that information.

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 30th January 2026 and signed on its behalf by:

......................................... Anthony Rogers 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 2025 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.

....................................................... …………………………… Andrew Harry CGMA MiP 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 2025

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		 Unrestricted
funds
2025
£
4,000
32,186
4,438
40,624
43,574
43,574
(2,950)
(2,950)
-
(2,950)
3,780
830		 Restricted
income
funds
2025
£
-
105,566
-
105,566
113,857
113,857
(8,291)
(8,291)
-
(8,291)
90,401
82,110		 Total
funds
2025
£
4,000
137,752
4,438
146,190
157,431
157,431
(11,241)
(11,241)
-
(11,241)
94,181
82,940		 Prior year
funds
2024
£
12,664
100,291
2,592
115,547
98,832
98,832
16,715
16,715
-
16,715
77,466
94,181

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 Balance Sheet

As at 31 March 2025

Note
Fixed Assets
Tangible Assets
11
Current Assets
Debtors
12
Cash at bank and in hand
Creditors: Amounts
falling due within
one year
13
Net current assets
Total assets less
current liabilities
Net assets
The funds of the charity:
Restricted funds
14
Unrestricted funds
14
Unrestricted income funds
Total unrestricted funds
Total charity funds		 £
£
73,846
73,846
3,397
10,072
13,469
(4,375)
9,094
82,940
82,940
82,110
830
830
82,940
2025		 £
£
78,150
78,150
1,149
22,179
23,328
(7,297)
16,031
94,181
94,181
90,401
3,781
3,781
94,182
2024

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 30th January 2026 and signed on its behalf by:

......................................... Anthony Rogers Trustee

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:

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 Office Equipment -25% straight line Motor vehicles -25% reducing balance

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 on:
Charitable activities
Other gains/(losses)
Reconciliation of funds:
4 Donations and Legacies
Donations Received
Donated Services
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
2024
£
12,664
28,421
2,592
43,677
38,022
38,022
5,655
5,655
-
5,655
(1,875)
3,780
Unrestricted
funds
£
4,000
-
4,000		 Restricted
income
funds
2024
£
-
71,870
-
71,870
60,810
60,810
11,060
11,060
-
11,060
79,341
90,401
Restricted
income
funds
£
-
-
-		 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
Total
funds
2025
£
4,000
-
4,000		 Prior year
funds
2024
£
4,064
8,600
12,664

Page 11

Swamp Circus Trust Limited Notes to the Accounts

5 Incoming resources from charitable activities

Grant Income:
Cornwall Community
Foundation
Cornwall Council
National Lottery
Norman Famil Trust
Penryn Town Council
Falmouth Town Council
Truro City Council
Primary Purpose Trading:
Events Income
Circus Clubs
Fees for Workshops etc
Hire of Big Tops
Show Income
6 Other income
Office Sub Let		 Unrestricted
funds
£
-
-
-
-
-
-
-
7,008
-
16,428
7,970
780
32,186
Unrestricted
funds
£
4,438
4,438		 Restricted
income
funds
£
11,500
89,916
-
2,500
-
900
750
-
-
-
-
-
105,566
Restricted
income
funds
£
-
-		 Total
funds
2025
£
11,500
89,916
-
2,500
-
900
750
7,008
-
16,428
7,970
780
137,752
Total
funds
2025
£
4,438
4,438		 Prior year
funds
2024
£
5,000
56,617
10,000
-
253
-
-
6,910
5,636
10,375
5,500
-
100,291
Prior year
funds
2024
£
2,592
2,592

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 Products/Goods
Training Equipment
Hire of Big Top
Venue Hire
Support costs
Wages and salaries
Pensions
Rent and rates
Light, heat and power
Insurance
Building Repairs and
maintenance
Office Administration
Bad Debts
Equipment repairs and
renewals
Telephone and fax
IT Services
Printing, postage and
stationery
Sundry expenses
Cleaning
Travel and subsistence
Advertising & Marketing
Consultancy fees
Legal and professional fees
Bank charges
Depreciation
Total Support Costs		 Unrestricted
£
6,972
13,632
77
2,927
-
1,345
60
25,013
-
-
2,390
2,395
1,409
845
1,534
5,503
-
2,637
341
55
409
-
-
-
-
47
121
875
18,561		 Restricted
£
24,224
10,318
100
-
7,976
2,915
-
45,533
50,720
1,079
-
-
-
180
319
-
-
-
-
1,956
-
-
298
3,378
5,000
-
-
3,430
66,360		 Total
2025
£
31,196
23,950
177
2,927
7,976
4,260
60
70,546
50,720
1,079
2,390
2,395
1,409
1,025
1,853
5,503
-
2,637
341
2,011
409
-
298
3,378
5,000
47
121
4,305
84,921		 Prior year
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
351
3,957
1,650
-
1,667
46
86
131
-
-
-
122
4,375
56,980

Page 13

Swamp Circus Trust Limited Notes to the Accounts

Governance Costs
Accountancy fees
-
The audit or independent
examination of the charity's
accounts
-
Total Governance Costs
-
Total Charitable Expenditure
43,574
Net income/ expenditure
Net income/expenditure is stated after charging:
Depreciation of tangible fixed assets
Auditors' / Independent Examiners'
remuneration		 974
990
1,964
113,857		 974
990
1,964
157,431
2025
£
990
4,305		 387
990
1,377
98,832
2024
£
990
4,375

8 Net income/ expenditure

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		 2025
Number
2
50
2025
£
50,720
1,079
51,799
17,306		 2024
Number
2
50
2024
£
33,984
535
34,519
17,474

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: 2025: £600 (2024:£658)

Page 14

Swamp Circus Trust Limited Notes to the Accounts

10 Trustees' remuneration and expenses

Trustees received remuneration or benefits in kind during the year as follows:
2025 2024
£ £
Anthony Eldridge-Rogers - 1,418
Simon Barclay - 50

Trustees received no expenses during the current or prior year.

11 Tangible fixed assets

Cost
As at 1 April 2024
As at 31 March 2025
Depreciation
As at 1 April 2024
Charge for the year
As at 31 March 2025
Net Book Value
As at 31 March 2025
As at 31 March 2024
12 Debtors
Trade Debtors
Prepayments
Other debtors		 Freehold
interest in
land and
buildings
(including
heritage
assets)
£
62,715
62,715
-
-
-
62,715
62,715		 Plant and
machinery
including
motor
vehicles
£
97,701
97,701
82,860
3,710
86,570
11,131
14,841		 Fixtures,
fittings
and
equiptmen
t
£
2,378
2,378
1,784
594
2,378
-
594
2025
£
3,397
-
-
3,397		 Total
£
162,794
162,794
84,644
4,304
88,948
73,846
78,150
2024
£
806
60
283
1,149

Page 15

Swamp Circus Trust Limited Notes to the Accounts

13 Creditors: Amounts falling due within one year

Trade creditors
Taxation and social security
Accruals and deferred income
Bank loans, overdrafts and credit cards
Other creditors
14 Analysis of funds
As at 1
April
2024
£
Restricted Funds
Development of Chyan Plen
68,989
Norman Family Trust
-
The Clothworkers Foundation
3,527
Future Vision - Cornwall
Council
9,546
Future Vision - National
Lottery
7,920
Cornwall Community
Foundation
-
Other Grants below £2,000
419
Falmouth TC
-
Truro CC
-
90,401
General Funds
Unrestricted funds
3,780
Total Unrestricted funds
3,780
Total funds
94,181		 Incoming
Resources
£
-
2,500
-
89,916
-
11,500
-
900
750
105,566
40,624
40,624
146,190		 Resources
Expended
£
(3,430)
-
-
(97,795)
(7,920)
(4,187)
-
(360)
(165)
(113,857)
(43,574)
(43,574)
(157,431)		 2025
£
56
1,768
1,340
-
1,211
4,375
Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 2024
£
1,727
1,568
990
2,400
612
7,297
As at 31
March
2025
£
65,559
2,500
3,527
1,667
-
7,313
419
540
585
82,110
830
830
82,940

Page 16

Swamp Circus Trust Limited Notes to the Accounts

15 Net assets by fund

Tangible assets
Investments
Current assets
Creditors: Amounts falling
due within one year
Net Assets		 Unrestricted
funds
73,846
-
(68,641)
(4,375)
830		 Restricted
income funds
-
-
82,110
-
82,110		 Total funds
73,846
-
13,469
(4,375)
82,940		 Prior year
funds
78,150
-
23,328
(7,297)
94,181

Page 17