REGISTERED COMPANY NUMBER: 07846516 IENGLAND AND WALESI REGISTERED CHARITY NUMBER: 1144840 ort of the Trustees and Financlal Statements for the Year Endèd 31 December 2023 for Theo aces Soclet Villars Hayward LLP Chartered Accountants Chartered Tax Advisers Reoistered Auditors 8oston House Henley-on-Thames RG9 1DY
Theo ens istered Com an aces Sode Number.. 07846516 Re Contents of th Flnanclal Statèments for the Year Ended 31 December 2023 Page Report of the Trustees Report of the Independent Examiner Statement of Financial Actlvities Staternent of FSnancial P051tion io Notes to the Financial Statements 11-16
Yheo ens aces Soclet istered Com an Number.. 07846516 Re Re ort of the Trusteès e Year Ended 31 December 2023 fort The Trustees, who are also directors of the Charity for the purposes of the Companles Act 2006, are pleased to present their annual report together with the financlal statements of the ChaTity for the year ended 31 December 2023 and confirm that ihey comply with the requirements of the Charitles Act 2011, the Companies Act 2006, and Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charlties preparing their financial statements in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number: 1144840 Registered Company Number: 07846516 Principal and Registered Office- 25A Bell Street, Henley-on-Thames, RG9 2BA Independent Examiner: Nicholas M Smith, BFP. ACA, CTA Villars Hayward LLP, Boston House. Henley-on-Th3mes, RG9 IDY Bankers.. Borclays Bunk plc Mid-Thames Group, PO Box I, Henley-on-Thames, RG9 2AX CAF Bank Ltd 25 King5 Hill Avenue, Kings Hill, West Malllng, Kent, ME18 4JQ Flagstone Group Ltd Clareville House, 26-27 Oxendon Street, London, SWIY 4EL Solicitors.. Richard Buxton office A, Dales Brewery, Gwydir Street Cambridge CBI 2U Mercers 50 New Street Henley-on-Thames RG9 2BX Surveyors: Severa8e Greaves Limited 9 St Mary's Street Wallingford OXIO OEL Dlrectors •nd Trustees The directors of the charitable company (the CharStyl are the Trustees for the purpose of Charity law and throughout thls report are ¢ollectively referred to as Trustees. The Trustees serving during the year and since the year end were as follows:. Dr P D Wadey- Chairman G M Bathe- Vice Chairman S Bain (Treasurer) CBNBeney J Hall T-J Sutcliffe S Hunt STRUCTURE, GOVERNANCE AND MANAGEMENT GovernlnK Document The charity is ¢ontrolled by its governing document, the memorandum and artlcles of assoclatlon, and constltutes a limlted company, limlted by guarantee, as defined by the Companiès Act 2006. Page I
Theo ens Istered Com an aces Soclet Numbèr.. 0784651 Re Re ort of the Trustèes continued for the Year Ended 31 December 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Icontinued} Governing Document Icontirtuedl The charity is the successor to the Commons, Open Spas and Footpaths Preservation Society (registered charity number 2147531 which was established by a trust deed dated 6 December 1963, originally havin8 been founded in 1865. It was reglstered as a company limited by guarantee on 14 November 2011. Re¢rultment and appolntment of Trustees Trustees are appointed by the members of the companvi association. in accordance wlth the memorandum and articles of Rèlated party disclosures During the year one trustee sold books to the Society wlth a value of £100. No other transactions have been notified by any other trustees, in relatlon to the year, nor any balance outstanding from prevlous years. Dèclaratlons of interest An agenda item foT recordin8 these, if any be declared, appears on the agenda for each trustee meeting. The soclety's insurers require a statement to be minuted at each meeting that the trustees are not aware of anything arising which rnight lead to a claim on the societ(s indemnlty policy. R15k Management The soclety maintains a risk re815ter which 15 regularly reviewed by trustees with practical precaution5 being implemented by officers and staff. PUBLIC BENEFIT ¥fATEMENT Section 4 of the Charitles Act 2011 requSres the charity trustees to comply wSth their duty to have due regard to public benefit guidance published by the Charity Commission in exercising their powers or duties. The trustees are mlndful of this obligation and have been referring to the guidance when reviewing thelr aims and objectlves and in plannlng their future activitie5. In particular, they have considered how planned activities will contribute to the aims and objectives they have set. OBJErfivES AND ACTIVITIES FOR THE PUBLIC BENEFIT SummoryoAthe churltrfs objects fjnd strate9yAorachleving them The objects of the society are campaignlng to create and conserve comrnon land, village greens, open spaces and rights of public access in town and country, in England and Wales. These objects are furthered both locally and nationally. The soclety is building up a network of local correspondents who can make 51te vlsits where problem5 arise and submit approprlate representations regardSng, for example, proposed changes to the public-path network. Thè society also secures the registeTinÉ of new village green5, reslsts encroachments on common land. and defends common land and greens against deregistration. At a natlonal level thesociety's unique expertise is its accumulated knowledge In the complicated case law and common law that apply to common land and its user rights. Bodies such a5 the Department for Envlronment, Food and Rural Affairs (Defral, the Welsh government, the National Trust, Natural England and Natural Resources Wales acknowledBe the society's primacy in this area. The society is a mandatory consultee for certain applications for works on common land and for Changes to publSc rights of way. The 50Clèty also endeavour5 to Improve the law for the benefit of the public. By challenglng unacceptable proposals through the court5 if neSSary and more generally by seeking medla attention and lobbying parliament and local authorities, It protect5 places of beauty and interest, and achleves better public acSS throughout England and Wales. Page 2
Theo ens istered Com an aces Soclet Number.. 07846516 Re Re ort of the Trustees continued for the Year Ended 31 December 2023 OBJEcfivES AND ACTIVITIES FOR THE PUBLIC BENEFIT Icontinuedl SummttryoAmoin achieMentS durlng the yeur These are challenging time5 for the two nations in which we work, with contlnued Squeeze on public funding, and the cost-of-living crisis. However, thi5 means that people value their open spaces and paths more than ever, keeping us busy In helping them to defend their rights of acces5 there. We focused on legal work. with the appointment of a new post of case officer lenforcementl, and we shall target laggard local authorities who evade their legal duties. We established our new legal-action fund and were delighted that our membèrs gave so generously, with a year*nd total of £31,682. With the Westminster electlon on the horizon, we took steps to prepare our manifesto. The main achievements during the year are listed below under headlngs which reflect ihe four main objects in our constitution. To protect commonsi greens and other open spacès We responded to calls from members for advice on protection and management of at least 182 commons, 87 re8lStered green5 and 252 other open spaces. Many more cases and dispute5 cameto us from consultations from official bodles or were dealt with by our local correspondents. Our re-registratlon officer, Frances Kerner, funded by the generous lega¢y from lack Candy, contlnued her work on applications, submittlng four in North Yorkshire and one in Pembrokeshire. She also pursued and defended applications we had already made in other English countles before their registers dosed to new applications on 31 December 2020. During the year we eelebrated the addition of slx commons to the registers, covering 17 hectares, thanks to our efforts.. in Cornwall at St Breward, The Bunny Hlll near Truro. and Predannack Downs near Mullion,. in Hertfordshire at Hudnall Common near Little Gaddesden, and Bury Wood at Boxmoor,. and in Kent, at Radfall Road near 8lean. We were disappolnted that a further application at Farway in Devon was rejected. In january, a High Court judge ruled that there was no right to backpack camping on the Dartmoor commons under the Dartmoor Commons Act 1985. The Dartmoor Natlonal Park Authority, with our intervention, successfully challenged this In the court of appeal. However. the Darwalls (the landowners who brought the case) have sought leave to appeal to the 5uprÈme court and, shortly after the year's end, we learnt that leave had been granted. We were delighted with the outcome at Blackbushe aerodrome on Yateley Common. Here we had intervened in the High Court and Court of Appeal in support of Hampshire County Council whSch had refused to deregister nearly half a square kilometre of the common. That decision was upheld in the Court of Appeal and the matter was returned to tl)e planning inspector. He has ruled that only the land occupied by the terminal building and café, 500 square metres, should be deregistered, the outcome we wanted. We helped to save two pleces of common land from dere8lStration, at Hurtwood Common in Surrey, and Knighton Heath In Dorset. Appllcants for works on, or exchange of, common land nottfied us of 76 cases. We ralsed objections to 31 of them. Of the 52 statutory applicatSons for works which were determined during the year, 21 were granted with no objection from us, and 21 were granted despite our objection. These included a substation at Hawridge and Cholesbury Common, Buckinghamshire; an extension for a further 15 years of fencing for trèe-plantin8 on Caldbeck and Uldale Commons, Cumbria; flood-prevention works on Gooseholme and New Road commons, Cumbria,. temporary enclosures for events on Clapham and Streatham Commons. London Borough of Lambeth; an access track acr055 Burn Moor common, North Yorkshire; 1S-years fencing on Mar5den Moor, Kirklees, and on Kenfig Common, Bridgend,. and an access road across Plcket Mead common, Swansea. Page 3
Theo ens aces Socièt istered Com an Number: 07846516 Re Re ort of the Trustees contlnued for the Year Ended 31 December 2023 To protect Commons, greèns and other open spaces Icontlnuedl Approved with ourobjection also were applications forthe deregistratlon of common land or village8reen, either with inadequate or no exchange land, for road-wldening at Brockerid8e Common, Gloucestershire; a cycle path at Bury Mead, Hertfordshire.. and an access way on Longhorsley village green, NoTthumberland, among others. Three applications were rejectèd following our advice. These were two electricity substations on Chailey Commons in East Sussex. vehicular access ways on Sneedham Green, Gloucestershire, where our local correspondent Chas Townley represented us at a public inqulry,. and an access road on Dunsfold Common, Surrey. Two others were withdrawn after we had obje¢ted'. works In connection with sand and gravel extraction at Lower Cow Pasture, Gloucestershire. and a community hub at Chale Green common on the Isle of Wight. We published an information sheetfor local councils to advise them of thelr power5 to protect commons, greens, other open spaces. and publlc paths. Our case officers Hugh Craddock and Nicola Hodgson delivered more tralning packages on commons and green5, both online and in person. We partlclpated, wlth the Friends of the Lake District, in tralnlng on plannlng and commons for members of the Royal Town Planning Institute in the north of England. To protèct and enhance pubSlc rights of way and publlc access The Henley offlce dealt with 378 requests for advice on paths, and our local correspondents pursued many others. We were dlsmayed when the Ithenl environment Secretary. Théfèse Coffey, overturned Richard (Lordl Benyon's declsion of February 2022 and decided to implement the 2026 deadline for historic-path applications, while setting it back for five years to 2031. The deadlrne was commenced in November, ahead of any regulations listin8 the circumstances in which those rlghts would be excepted from extinguishment. This pieeemeal a¢tlon ha5 bfoken the hard-won consensus of the stakeholder working group ISWGI that these measures would be Introduced as a package. Furthermore, Dr Coffey a150 ruled that the exception for unrecorded historic path5 in use would not be introduced at all, desplte this being a core proposal1261 of the SWG'S 2010 report, Steppin8 Forward. Kate Ashbrook continued to serve ot) the SWG, supported by Helen Cjayton and Hugh Craddock who are also members of SWG task for5. We submitted commenis to the Secondary Legislation Scrutiny Committee which ¢onsldered the regulation to set back the cut-off to 2031, challengin& Defra'5 Statèment that there was no significant impact on voluntary or public bodies, or anyone else. The committee, while disagreeing with us, noted that local authorities were likely to receSve a 518niflcant number of new appllcations, and suggested that parliament rn18ht wish to ralse the resourclng issue with the minister. We were dSsappointed when the Westminster government intrOdUd its gUIdan on dlverting and extinguishing paths through private dwellings. gardens, and industrlal or commercial premises. This had been brought to the SWG for considèration, and we sought to minimise Its effect maklng it clear that we land other usergroup members) did not support it. We have assured our local correspondents and others that thi5 does not affect the legal tesis for diversions and extinguishments, so In practi there should be no change. We commissloned a consultant. Adrian Parry, to undertake some pilot research on records in Berkshire on the effect of the Flnance Act 1910 on applications to record route5,' this has proved useful and we are considering the results and next steps. With the British Horse Society and Ramblers we dlscussed legal action agalnst surveying authoritles which a failing to carry out their duties in relation to definitive map modifScation order applications, and at the end of the year were actively pursulng a first casè. Page 4
Theo ens istered Com an ces Soclet Number.. 07846516 Re Re ort of thè Trustees continued for the Year Ended 31 December 2023 To protect and enhancè publlc rl8hts of way and publi¢ access Icontlnuedl At Redmarley D'Abitot in Gloucestershire, with the Trail Riders, Fellowship and Ramblers, we saved an unclassified road from closure in the maglstrate5' court. The road is Illegally obstructed, and the next task Is to persuade the county council to reopen it. In Wales we contlnued to work with the cross-party group for outdoor activity. and to press the Welsh 80vernment to test some of the proposals In Its access-reform package on its own land. We worked with Wales Environment Link to seek improvements to the Agriculture (Wales) Bill, which became law in August, to secure payments for new and improved acSS beyond the statuiory duties of local authorities and landowners. Our general secretary secured the reopening of four blocked paths in Tetsworth, Oxfordshire, after serving notices on the county council under 5ectlon 130A of the Highways Act 1980. Our local correspondents defended paths wlth considerable success. For example, Lucy Wilson served notlce on Cornwall Council under Section 130A, with the result that unlawful gates on a footpath at St Ervan were removed. Other correspondents seyved notices and we are gearing up for actlon in the maglstrates, court. Jess Tyler, our new case officer lenforcementl, prepared briefing material and is ready to support legal actlon. We drafted amendments, with Living Streets and the Ramblers, to the Levelllng Up and Regeneration Bill to keep pavements free for the public. The government proposed in the bill to make permanent the changes it had introduced during the pandemic, 5treamllning the procedure for allowing consumption of food on public pavements, thereby obstructing pedestrian5. Our proposals were rejected In the house of commons and we were unable to relnt¥oduce them in the house of lords. We shall look for other opportunitie5 to remedy this unsatisfactory sltuatlon. We participated in two round-table meetings to discuss greater access to the countryside, and with other organlsatSons we produced Outdoors for All, a document setting out our aspiratlons for aC$S and its benefits for health and well-being, nature, and the economy. Our general secretaryspoke at the 91st anniversary Celebration of the Kinder Scout mass trespass, the Blue Earth Summlt In Brlstol, and at meetings of various organisations such as the Gower Societv. To secure the creatlon of new publlc paths and open spaces Seven definitive map modification applications were made in the society's name by one of our Sussex local correspondents, Chris Smith. Two of his previous applications were Confirmed. In Norfolk, local Correspondent lan Witham achieved the upgradlng of a footpath to restricted byway at Mundeslev. We continued to encourage local authoritie5 and other landowners voluntarily to re8lSter their land as town or vlllage green, thereby giving local people rights of recreation there and protecting It from development. We were pleased to learn of registratlons at Stokè Lodge playing fields in Bristol- Quantock Drive at Ashford in Kent; Llwyneinlon Woodland, Wrexham,. and a voluntary registration Ise¢ured by our local correspondent Rodney Whittaker) at Stokes Field, LonÈ Ditton, in Surrey. We were pleased that our call for new greens was included as one of ten asks in A More Natural Capital coalition's manifesto for the London mayoral election in 2024. We advised More than 76 members and other inquirers about daiming greens. To protèct the beauty of the countryside Our case officer NicoSa Hodgson worked on the detail of planning measures in the Levelling Up and Regeneration Blll. which recelved royal a55ent in October. Through the BettÈf Planning Coalltion. we helped to win some useful amendments, and were pleased that government conceded to strengthen the duty on publlc bodies to protecl national parks and areas of outstanding natural beauty (now known as national landscapes), among other improvements. Page 5
Theo ens Istered Com ace5 So¢let Number: 07846516 Re an Re ort of the Trusteès continued for the Year Ended 31 December 2023 To protect the beauty of the countfvsidè Icontlnuedl In January the Westminster government pledged that everyone should live within a 15-minute walk of 'green or blue, space. While we welcomed the commitment and proposed the dedicatlon of new green5 as part of the solution, we were disappointed by the lack of progress. We obje¢ted to plans by Skyline for a massive tourist development on Kilvey Hill, north-east of Swansea, whlch disregarded unrecorded access rights and publIc-aC55 land. We continued to support the Campaign for National Park5 and the Alliance of Welsh Designated Landscapes. Our genèral secretary attended a seminar organised by Tirweddau Cymru (Landseapes Wales) on Gower. ORGANISATIONAL MANAGEMENT We now have 47 local correspondents. In 2023 we appointed lon Brierley Imalvern Hllls Dlstrict, Worcestershirel, Mick Freer (Dudley Borovghl, Richard Price Ipart of Ceredigionl, Ken Sharp (Knowsley. St Helens, and Sefton Metropolltan Boroughs, Liverpool City, and West Lancashire Distrlctl, and Nicholas Whitsurh-jones (former West Dorset District). We updated our guidelines for local correspondent5, and arranged a get-together for them in the Lickey Hills, Worcestershlre. in July, which was both valuable and enjoyable. We held our annual gèneral meeting in London with an online optlon. In total 41 members attended, and others participated by proxy. Voting was undertaken online, with 60 votes cast. Tara-lane Sutcliffe was re-elected to the board of trustees after her first three-year term. We presented lan Witham with the Eversley Award for Outstanding Achievement, for h1s many years of work on publlc paths and ¢ommons in Norfolk. We Issued 52 press releases and published three editlons of our magazlne Open Space. Staff and members appeared at least n1ne times on the radio, and twice on television. We continued to improve our webslte. and at the year's end had commissioned a review. Our digital marketing and content manager, Abbie Cavendish, led a forensic exercise to experirnent with new audience5, and develop contact with the more receptive ones, increasing our influence and reach, and therefore our campaigning clout. On 31 December, membeyshlp stood at 2,342, a net increasè of 23. This number is comprised of 1.745 individuals, and 597 organisations and local authoritles. We welcorned 317 new votlng members and 37 members who had lapsed and relolned,. 22 members died durin8 the year and a further 309 lapsed. In June we appointed lane Abey as our membership 5ecretaryi a job-5hare with Lucie Henwood who now focu5es on flnancial matters. In August we appointed less Tyler as tsur case officer (enformentI, a new post to reflect our enthuslasm to use the courts to resolve intransigent Issues. Our dedicated staff, lane Abey. Kate Ashbrook, Abbie Cavendish, Helen Clayton, Hugh Craddock, Sarah Hackin& Lucie Henwood, Nicola Hodgson, Frances Kerner, Lucy McKean, and less Tyler have had another busy year. We thank thern warmly for their cornmitment and success In furthering the work of the societv. FINANCIAL REVIEW Flnancial operatlons In 2023 the society's income was primarily split across Investment return5, membership Subscriptions, anil donations. Membership subscrlptlons nominally1ncre35ed, and Investment return5 have been posltlve with an Increase of £20,520. This wa5 due to improved returns on cash and investments as well as an incrèase in reserves following a large legacy in the previous year. Budgeted increases in expenditure during the year were planned to maximise our Surplus from the prevlous year, with recruitrnent to further our charitable objectives. Page 6
Theo ens s Societ stered Com ah Number: 07846516 Re Re ort of the Trustee5 ontlnued for the Year Endèd 31 Decembèr 2023 In November, the society made an appeal to members for funds to SUPPOrt legal action where required and to back our members in fighting theSr legal battles. The appeal was very successful. and funds continued to be received for many months. We thank all members for their contributions with £31,682 raised (to 31 December 20231 to fund some of the essential legal work to protert our commons, open spaces, and paths. Legacles recognbsed In 2023 Edgar Aveling, Dennis Basten, Henry Elsey Cooper, Patrlck Darnes, Ollve Entwistle, Ronald Smlth, Hazel Mary Thorpe. We aTe grateful for all legacles and doriations, and your 8Sft to the sotlety will help to ensure that future generations will enjoy ¢ommons, open SpaS, and paths, In towns and countryside throughout England and Wale5. Please see our webslte.. https'./lvMw.oss.org.uk/what-you-can-dollegacles/ for more information. RESERVES POLICY The reserves policy has been kept under close review throughout the year by trustees to ensure It was flexlble enough to respond to external economic pressures and remalned fit for purpose. Strategic reserve fund.. the societ¢s recurring revenue is not sufficient to meet all running costs so it is the policy of the trustees to maintain a strategi¢ reserve fund sufficlent to coverthe expected net outgolngs of the society for 48 month5. Following a review of the budget for 2024, antitipatlng an overall deficit, the strategic reserve fund was updated to £948,059 for january 2024. The appllcations reserve fund. set up in 2019, Currently stands 3t £226,000. The figure is kept under revlew annually, based on experience and analysis of the costs actually incurred by the society as a result of commons and rights-of-wav applications. Trustees acknowledge this reserve is essential since the cost5 associated with taking appllcation5 to completlon are unknown and variable, but can be considerable and can run over a long period. CONCLUSION Once agaln we have had a good year in challenging wrong legal declsions and asserting and protecting the public's rights by recording commons and paths and vla our other casework, a sample of whlch is described above. We are reallv pleased to see the surge of member support for our legal appeal which will help us take on more deserving cases, especially now that we have employed our enforment offir. We hope earnestly to see the regulations for the path extinguishment day exemptions now that Dr Coffey has moved on as sètretary of state and will continue to assist the Stakeholder Working Group and DEFRA in ensuring that the new re8ulali(>ns are as well written and as useful as possible. I thank, once again. our dedicated staff, incrèasing number of local correspondents, and members, and all who have helped in support of the society and its activities. I comrnend this report to our members. ON BEHALF OF THE BOARD: Date.. ..................... . 2024 Dr P D Wadey- Chairman, on behalf of the Trustees Page 7
Theo ens 15terèd Com an aces Soclet Number.. 07846516 Re Inde endent Examiner's Re ort to the Trustees of Theo ens aces Sotlet I report to the charlty trustees on my examination of the financial statements of the company for thè year ended 31 December 2023 Set out on pages nine to sixteen. Responsibilltles and basis of report As the charitvs trustees of the cornpany land also its directors for the purposes of company lawl you are responsible for the preparation of the financial staternents In accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having Satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are ell@Sble for independent examination, I report in respect of my examination of your chaTitIs flnancial statements as carrled out under sectlon 145 of the Charities Act 2011 Ithe '2011 Act'l. In carrylng out mv examination I have followed the Dlrections given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's report Since the company's gross Income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinatlon because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodles. I have completed my examlnatlon. I confirm that no matters have come to my attention In connectlon with the examination giving me cause to belleve.. a¢countlng records were not kept in respect of the company as required by section 386 of the 2006 Act,. or the financial statements do not accord wlth those accounting records; or the flnancial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and falr. view whl¢h1s not a rnatter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Pfactice for accounting and rèporting by charlties lapplicable to charities preparing their financial statements In accordance with the Financlal Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come acioss no other matters in connection with the examination to which attention should be drawn In thls report in order to enable a proper understanding of the financial statements to be reached. A/JAkn 8Ff A4 CTA Nicholas M 5mlth BFP, ACA, CTA Villars Hayward LLP Chartered Accountants Statutory Auditors Chartered Tax Advisers Boston House Henley-on-Thames RG9 IDY Date.. .2024 Page 8
Theo ens Istered Com aces Socie Number.. 07846516 Re an Statement of Flnanclal Adlvltles Indudln Income and Ex endlture Account For the Yèar Ended 31 D&mber 2023 Unrestricted funds Restrlcted funds Endowment funds Total funds 2023 Total funds 2022 Note Income and endowments fmm: Donations linc. Gift Aid) and legacies 65,257 65,2S7 819,924 Charitable activities Subscription5 Appeals 80,055 28,276 80,055 28.276 79.071 525 Other trading actlvities Sule of publlcotions, Trusts. Royalties Ètc. 6,683 6,683 9,619 Investments 55,202 29,874 1,791 86,867 59,444 Other income 300 Totsl 235,473 29,874 1,791 267,138 968,883 Expenditure on.. Raising funds Other publicotions costs 450 450 5,¢XII Charitsble activities 5toff sulories und reloted costs Premises costs Administrotlon costs Locol correspondents Open Space t7nd website Other costs Governonce costs 286,408 16,501 35,504 6.636 15,737 76,491 15.491 286,408 16,501 35,504 6,636 15,737 80,455 15,491 246,377 14,546 27,461 4,043 12,783 107,948 12,470 io li 3,964 Total 453,218 3,964 457,182 430,629 IL05sIIGaln on investment assets Nèt lexpenditurelllncome 12 17,7301 112,2101 15801 120,5201 151,5061 1210,5641 486,748 1225,4751 13,700 1,211 Transfers between funds 31.665 129,8741 11,7911 1193,8101 116,1741 15801 1210,5641 486,748 Rèconciliation of fund5'. Total funds brought forward 2,045.318 254,654 24,689 2,324,661 1,837,913 Total funds carrled forward 13 1,851,508 238,480 24,109 2,114,097 2,324,661 Page 9
Theo Èns Istered Com Statement of Flnanclal Posltlon as at 31 December 2023 aces Sotlet Numbèr.. 07846516 Re Note 31.12.23 31.12.22 Flxed Assets.. Tangible fixed assets Investments Long term deposits 14 15 16 5,610 852,685 270,296 4,535 873,205 7,237 Totolfi%ed ussetS 1,128,591 884,977 Current Assets: Debtors Short term deposits Cash at bank and in hand 17 18 35,700 934,904 24,999 995.603 3,595 1,465,524 13,582 Toiol current assets 1,482,701 Llabllltle5: Creditors- amounts falling due within one year 19 110,0971 985,506 143,0171 Net current (Jssets 1,439,684 Totsl net assets 2,114,097 2,324,661 The funds of the charitv.. Unrestrlcted funds: Strotegic reservefvnd Applicotions reservefund Legol actionfund Generalfund Restricted funds.. Cundvfund Creech )one5fund Endowment funds= 8uxtonfund 948,059 226,000 23,059 654,390 910,313 435,(KJO 700,005 196,203 42,277 211,360 43,294 24,109 24,689 Total charityfunds The charitable company Is entitled to exemption from audit under Se¢tlon 477 of the Companies Act 2006 for the year ended 31 December 2023. The members have not required the charitable company to obtain an audit of its financlal statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibllities for: lal ensurlng that the charitable cornpany keeps accountlng records which comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial yèar and of Its SUTplus or deficit for each financial year in a¢cordance with the requirements of Sections 394 and 395 and which otherwise comply with the requlrements of the Companles Act 2006 relating to finaneial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the speclal provisions tsf Part IS of the Companle5 Act 2006 relating to small charitable companies and with the Financial Rèporting Standard applicable in the United Kingdom and Republlc of Ireland IFRS 1021. These financial statements were approved by the Board of Trustee5 0n......-....... on its behalf bv.. 2,114,097 2,324,661 . 2024 and wère signed Dr P D Wadey- Chairman S 8ain- Treasurer Pa8e 10
Theo ens istered Com aces Soclet Number.. 07846516 Re an Notes to the flnancial statements For the Year Ended 310ecember 2023 ACCOUNTING POLICIES The princlpal accounting policies adopted, judgements and key sources of estimation for uncertainty in the preparatlon of the flnancial statement5 are as follow5.. lal Basis of preparation The flnancial statements have been prepared in accordan wlth Accountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordancè with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021- (Charitie5 SORP IFRS 10211, the Flnancial Reportlng Standard applicable in the UK and Republlc Of Ireland IFRS 1021 and the Companies Act 2006. The Open Spaces Society meets the definition of a public benefit entity under FRS 102. Assets and liabilitles are initially recognised at historlcal c05t or transaction value unless otherwise stated in the relevant accounting policy notels). Ibl Income recognition policie5 Items of income are recogni5ed and included in the flnancial statements when all of the following criteria are met.. the charity has entitlement to the funds- ny performan¢e conditions attached to the itemlsl of Income have been met or are fully within the control of the d)aritv' there is sufficient certainty thal recèipt of the Incorne is considered probable, and the amount can be measured reliably. Legacles For legacies, entitlement is taken as the earliest of: the date on which the charity is aware that probate has been granted; the estate has been finalised and notification has been made by the executorlsl to the Charity that a distribution will be made; or when a distribution is received from the estate. ReIpt of a le8acyi in whole or in part, is only consldered probable when the amount can be measured reliably nd the charity has been notlfied of the executor's intention to make a distrlbution. other voluntary Incomè Voluntary Income re¢e1ved by way of subscription, donation5 and appeals is included in the financial statements when receivable and the amount can be measured reliably by the charitv. Donated servlces The value of service5 provlded by volunteers has not been included in these financlal statement5. Interest rècelvable Interest on funds held on deposlt Is included when receivable and the amount can be measured relSably by the charity,. thls is normally upon notification of the interest paid or payable by the bank. 1¢) Expendlture and Irrecoverablè VAT Expenditure Is recognlsed once there is a legal or constructive obligation to make a payment to a third party, it IS probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headin85= Expenditure on Charitable activitles cornprlse those costs incurred by the charity in the delivery of Its activities and 5ervlces for its beneficiaries. It includes both costs that Can be allocated directly to such attlvities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with the constltutional and statutory requirements of the charity and include the independent examlner's fees and costs linked to the strategic management of the charity. Irrecoverable VAT 15 ¢harged as a cost agalnst the a¢tivity for which the expenditure was Incurred. Page 11
Theo ens Istered Com an aces Societ Number: 07846516 Re Notes to the financlal statements Contlnued For the Year Ended 31 December 2023 ACCOUNTING POUCIES l¢ontlnuedl Idl Fixed Assets Fixed a55ets (excluding Investments) are stated at cost less accumulated depreclation. Depreciatlon Is provided so as toi wrlte off the asset over four years. Investments held as fixed assets are revalued at mSd-market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activitie5. (el Fund Account5n8 General fvnd This is an unrestricted fund which 15 to be invested for the benefit of the society but remains available to the trustees to be used for the objects of the society or for makinB allocations to the StrateÈlc Reserve fund. Strategic Reserve fund This is an unrestricted fund derived from allocations from the General fund. It is the policy of the trustees to keep 48 months, reserve in this fund, so that it should hold sufficient to cover the society's followlng 48 months, net outgoings, and to allow for an orderly closure of the society thereafter, should this become necessary. In line wlth this policy, the fund stood at £948.059 at 31 December 2023 This fund is to be Invested for the benefit of the society but remains available to the trustees to tTansfer back to the General fund In case of need. Appllcotlons ReseNe Fund This is an unrestricted fund derived from allocations from the General Fund. The funds within this reserve are to be used to see through to completion applications to reglster rights of way or common land where the application has been made in the name of ihe Society. Some applications are determined qulckly and wlthout significant cost, but for some there may be many years between an appllcation belng made and its conclusion. The Trustees consldeT that St is appropriate to hold a reserve for this purpose so that protrarted applications can be supported. Creech Jonesfund - The income from this restricted fund may be used for the objects of the society thal would not normally be met from the General fund. Candy fvnd This is a restricted fund to be used only for the general charitable purposes of the Open Spaces Society. It is not to be used for administrative expenses. Buxtonfvnd- The income from this fund is transferred to the Society's General fund. DONATIONS IINC. GIFT AIDI AND LEGACIES 31.12.23 31.12.22 Legacies Donations GSft Aid 42,437 792,918 7,545 14,544 15,275 12,462 65,257 819,924 APPEALS AND GIFT AID Funds raised by appeals over the year also generated related income via Gift Aid. Appeal Donations Glft Ald Total Autumn 2023 appeal 28,276 3,406 31,682 31,682 28,276 3,406 INCOME FROM OTHER TRADING ACTIVITIES 31.12.23 31.12.22 Sales of publications Special projects and tralnlng Trusts, royalties, commission etc. 1,208 4,647 828 5,041 3,640 938 6,683 9,619 Pa8e 12
Theo ens istered Com aces Socie Number.. Re an 7846516 Notes to the financlal statements continued For the Yèar Ended 31 December 2023 INVESTMENT INCOME 31.12.23 31.12,22 sted investments Cash Investments 50,805 36,062 49,319 10,125 86,867 59,444 OTHER INCOME 31.12.23 31.12.22 Other income 300 Other income comprises sundry recèlpts unrelated to the operatlons of the charitv. STAFF SALARIES 31.12.23 31.12.22 Gross Salaries Employer's National Insurance Contributions Employer Pension Contributions Recruitment Costs 252,562 18.892 11,701 3,253 215,012 15,862 9,911 5,592 286,408 246,377 Ernployees with emoluments exceeding the Charity Commission reporting threshold of £60,0. Nil12022'. Nill The average number of full-time equivalent employees In the year wa5 five12022.. five) PREMISES COSTS 31.12.23 31.12.22 Rent Light and Heat Repairs and Maintenance Cleaning Insurance Rates and Water Con5umable5 7,925 2,518 1,149 1,883 1,891 986 149 2,109 1,641 1,385 724 661 226 16,501 14,546 ADMINISTRATION COSTS 31.12.23 31.IL22 rr Costs Postage, Telephone and Stationerv Travel and Subsistence Depreciation of Computer/Offi¢e equipment Printing and Photocopylng Appeal Costs other Expenses Professlonal Indemnity Insurance 12,103 7,881 3,535 2,602 2,754 2,357 4,272 8,055 7,910 2,963 2.888 2,690 1,863 1,092 35,504 27,461 Page 13
Theo en S aces Societ istered Com Numbèr: 07846516 Re otes to the flnanclal statements continuèd For the Year Ended 31 December 2023 31.12.22 io OTHER COSTS 31.12.23 Legal Costs Marketing Commons Registration Project SubscTlPtions Donations and Grants Legacy mailing to the Law Society Conferences and Training Books and Maps 28,617 34,207 3,965 9,945 2,700 430 576 15 42,806 28,049 22,295 8,903 4,750 860 228 57 80,455 107,948 31.12.22 li GOVERNANCE COSTS 31.12.23 Independent examlner's fees (including taxation services and underprovision for prlor years) AGM and trustees Other professional fees 7,865 6,143 5.715 1,911 2,115 4.212 15.491 12,470 12 ILOSSESIIGAINS ON INVESTMENT ASSETS Unrealised Ilossl18ain on revaluation ol investments 120,5201 151,5061 13 ANALYSIS OF FUNDS Opening balanco Net Income/ lempendlturel Transfers Closi balance Unrestrirted funds Strategic reserve fund Applications reserve fund Legal action fund General fund 910,313 435,000 37,746 1209,(KIOI 23,059 1225.4751 179,860 948,059 226,000 23,059 654,390 700,005 Re5trlcted funds Candy fur)d Creech Jones fund 211,360 43,294 12,553 1,147 127,7101 12,1641 196,203 42,277 Endowmènt funds BL4Xton fund 24,689 1,211 11,7911 24,109 2,324,661 1210,5641 2,114,097 Page 14
Theo ens Istered Com aces Societ Number: 07846516 Re an Notes to the flnancial statements contlnued For the Year Ended 310ecember 202 14 TANGIBLE FIXED ASSETS Offlce equlpment Computer equipment Total Cost At l January 2023 Additions Disposals 10,871 65 46,504 3.612 57,375 3,677 At 31 Decernber 2023 10,936 50,116 61,052 Depre¢iotlon At I january 2023 Charge for the year Disposals 10,568 185 42,272 2,417 52,840 2,602 At 31 December 2023 10,753 44.689 55,442 Net book volue ut 31 DEcember2023 183 5.427 5,610 Net book volue ot3J December2022 303 4,232 4,535 2023 2022 15 INVESTMENTS AT MARKET VALUE I JANUARY Net Investmènt Ilossesllgains 873,205 924,711 120,5201 151,5061 AT MARKET VALUE 31 DECEMBER 852,685 873,205 There were no investment assets outside the UK. The investments are held primariSy to provide an investment return for the Charlty. The hlstorical ¢ost of the above investments at 31 December 2023 is £720,34912022.. £720,349) 16 LONG TERM DEPOSITS 2023 2022 Flagstone 270,296 7,237 2023 2022 17 DEBTORS Accrued Income Professional indemnlty insurance prepaid 34,709 991 2,604 991 35,700 3,595 Pa8e IS
Theo en S ates Societ Istered Com an Number: 07846S16 Re Notes to the financial statements contlnued For th Year Ended 31 Dècember 2023 18 SHORTTERM DEPOSITS 31.12.23 31.12.22 Flagstone Nationwide Instant Saver Issue 3 Furness Building Societv CAF Gold Account The Charity Bank Cambridge & Counties Bank Aldermore Bank Bond Nationwide Instant Saver 681,797 87,741 85,000 80,366 254,860 86,658 85,000 727,716 90,895 90.801 79,534 50,060 934,904 1,465,524 19 CREDITORS: AMOUNTS FALLING DUE WITHIN ONEYEAR 31.12.23 31.12.22 Trade creditors Accruals Other tsxes and social security costs 4,662 5,435 37,750 4,788 479 10.097 43,017 20 PARLIAMENT PIECE The society owns this land in Kenilworth which is leased, under a 99-year lease, to Warwlck Dlstrict Council and managed locally. No value has been placed on this land In these linanclal statements. 21 REMUNERATION OF TRUSTEES None ol the trustees received any remuneration12022- nill. Durin8 the year books with a value of £100 were sold to the society by one of the Trustees. An aggregate of £91712022.. £4191 was reimbursed to two12022- two) tTUStees lor expenses Incurred in relation to the society's activities, Including attending meetings andlor acting as local correspondents. Page 16