REGisfERED CHARITY NUMBER: 1147348
R￿￿rt of the Trustees and
Flnancial stateM￿ts
for the Year Ended 311)ecember 2023
mat￿ Allen U
AudIt￿S
Derby
DEI 2HU

Walesby Forest
Contents of the Flnandal Ststements
for the Year Ended 31 December 2023
Chalrnkin's Report
I to 2
Chlef ExeLthivé's RepTht
Report of the TNstees
4 to 10
Report of the Independent Audiiws
11 to 14
statement of Flnandal Activities
Balance Sheet
16
Cash Fl¢>w Statement
17
N¢)tes to the Cash Flow Statemert
18
Notes to the Flnanaal Ststements
19 to 32
Detalled Statmrt of Hnan17al Activitles
33 to 34

Walesby Forest
Chairman's Report
for the Year Ended 31 December 2023
Growing revenue and a healthy surplus from our operations through the tough macroeconomic condib'ons the
Charity has encountered for several years now have not ￿en easy. We have had to contend with the
uncertainties (aused by the surglng inflation, polltical turmoll, and recession. What is dear from the Chadties
performance thi5 year, in delivering record revenue whlle growing the buslness, our surplus Is being
challenged due to higher costs which is also irnpaLting on OLJr ability to 9enerate a strong cash reserve over
the last ￿e1ve months.
Our strategy, governed by the trustee board, is simple and affective; operate sustainably, optimise our
operation5, expand our offering, and deploy capitsl thoughttully. Whilst the charity objectives have not
changed significantly over the last few years, the fundamentsls of the strategy have altered very little.
As our capabilities have expanded and the vertically integrated one Stop shop model has matured, our
opportunities for self help have grown, reinforcing our resilience, and reducirvJ our relian￿ on one core of
ajstomer to generate results As an estsbli5hed charity, with a su￿$Sful record for growth and cash
generation, robust corptsrate g0veman￿, ané ambitions for further expansion, we believe time is still right
for continued investrnent if we are to contlnue belng the best in dass for oUtd￿r acdvlty centres. We must
remain aware of the Un￿rtaInty surrounding economlc growth and the rlslng path of Interest rates and the
tential this creates for leisure mad(et 50ftne55.
One aspect that has gained momentum 15 the sustsinability agenda. We have always tsken our responsibility
seriously but with capltal needed for renewals and growth, this wa5 never at the forefront of our minds. We
have now taken steps ensuring all MaIntenan￿ and future projects operate to best practi￿ and adopt an
ethical approath tsking our responslb1ll￿eS to our staff, volunteers, and communities seriously.
While the Board has Stewarded the Charity through a series of extraordinary circumstances, the credit for
delivery must go to our 5tsff and volunteers. They have ontr again, demonstrated their resilience and
determlnation. We recognise the Importan￿ of invesb'ng in our staff and volunteers ar￿ we are corrimitted
to ensure the S￿11 base Is balanced ensurlng we have a senior leadership team that compliments eath other
along with the strategy and commeraal, flnance and operations 15 an area idenb'fied that we wish to develop.
To enable we have the buildlng blod< for long temi-suC￿s, the appointment of additlonal senior leaders In
this a￿a has ken recognlsed ènd wlll be Implemented in ea￿Y 2024.
We have a first-da55 team who we trust and the Ingredients In place for Suc￿ss. l èm, therefore, ¢Jp￿MIs￿C
about our future and confident we will deliver our excib'ng ￿ans,
Page I

Walesby Forest
Chairman's Report
for the Year Ended 31 December 2023
Managlng our Risks & Opportunities
The Board of Twstees are responsible for the charfb'es system of risk management and strategy and with
what has happened over the last few years has shown our vulnerability to operatirwJ in a specialist sector.
Heading into 2024 managing our risks and opportunities will continue to be prominent. By idenb'fv'ng and
managing our risks effertlvely we can focus on our long-term opportLJnlties. Additional risks not presently
known or currenvy deemed to be less material may also have an adverse effect on the charity in the future.
Rlsk Is an Inherent and accepted element of doing business and affecbve risk management Is fundamental to
how we run the charity. The charity approath to rtsk management is to identify key risks and then to develop
ath'ons to Pr￿eSS within the operation to elimlnate or mitigate those risks to an acceptable level.
MOmr￿ fonward our risk and controls implemented by the trustees, and senior management team continued
to be strengthened with the trial of our new ￿Mits of Authority, new auditors, ap￿intment and the actions
tsken in reorganising our senlor leadership team.
Walesby Forest is a charity, oterating o dedicated outdoor and artlwty centre for youThJ people Induslve to
all. The charity not only requires extensive funding but a large team of volunteers and staff, and without this
combinab'on Walesby would not be able to offer the facilities and seNces that our customers demand. While
there are many contributors to the SUc￿$S of our (harity, at Walesby Forest its our staff and volunteers that
make the most material dlfference. Yet again they have demonstrated remarkable fortrtude In the fa￿ of
great uncertainty to produ￿ results and the board of trustees thanks them.
Walesby Forest is strow, and I belleve our best day5 are yet to come.
Alistair Bow
Chairperso
Date:
Page 2

Walesby Forest
Chief Executive's Report
for the Year Ended 31 December 2023
2023 proved to be a mixed bag with high levels of customers on site combined with countrywiée economlc
issues, poor weather, and operational issues that perpetuated throughout the year. It was the busiest year
on record from a customer number point of view and the team worked tirelessly to meet their expectations.
Combined wlth the Inaugural Fo￿t Fest UK event our scout numbers were up on 2022, however that only
tells part of the story. If the event attend￿ were removed from the customer count then our organised
group figures are down year on year. A theme that was a constant for those organising trips to Walesby
R)rest Wa5 that as the year went on the numbe￿ comlng to site fell as the cost of living crisis hit harder and
harder.
Our mixed group numbers were lower than in 2022. No doubt 2022 enjoyed a bounce back from Covid
pandemic that would be hard to maintain, but the biggest factor for a fall in numbers wa5 the weather. The
season stsrted with a cold Easter holiday period, I￿0 months of warm sunny weather, and then from July to
the end of the year the rain came and the customer bookj'ngs dropped away. The impact of the weather
forecast on potential bookings is a maj.or influencing fartor ar￿ combined with the ecommlc sltuauon in
2023 resulted in fewer peok71e coming to %te.
The numbers of school customers a)ming to site remained stroThJ. These are booknngs made 12 to 18
months in advan￿, and are not goiro to be deaded by last mlnute weather forecasts. The number of
children coming for their residential trips fell slightty throughout the year against a bathdrop of countswide
economic issues, but remained strong. Encouragingly, the feedbad( received in 2023 was the best on
Cxjr major events were a big success brfnging in an additional 8,500 wple to ￿te over the two long
weekends. The Camping and Caravanning Club Torchlight event we hosted was better organised by their
committee this year with many operab'onal issues resolved. However, In keeping with the rest of the
customer5 coming to 51te secorKlary spend was down. The Big Fake Festlval wa5 a big SUC￿55 again ané we
are already in discussioTIS about extendiThJ their stay beyond the current 5-year agreement.
Operationally the site struggled, the catering departrnent being problematic all year. The oterirwJ
manager and her deputy left the charity at the stsrt of the main season in May and their roles were not
adequately fill& until the October. In the meantime the in-house controls over food ordemng were rY)t as
good as they should have been resulting in an overspend on c3tering produce.
Looknng ft)rward to 2024 it is clear that things need to change. The first is the weather and an end to
the above seasonal rainfall that has blighted the country for the last 18-months. An improvement in the
weather corresponds to an increase in customer b(Kikings. Secondly, the country needs to come out of Its
economic cost of living crisis. When people have more money in their pockets we wlll see fewer
cancellations across all our customer gmups. The signs at the moment are encouraglng and It looks as if the
worst of the crfsls is over, but that now needs to translate into ￿$tomerS increaslng their bookings again.
Guy Laurie
CEO
Date: 17
Page 3

Walesby Forest
Report of the Trustees
for the Year Ended 31 December 2023
The trustees present their report with the finanoal statements of the charity for the year ended
31 December 2023, The trustees have adopteit the provisions of Accounting and Reporting by Chèrfties..
Statement of Recommended Prath'ce applicable to charities preparing their accounts in accordance with the
Finanaal Reporting Standard applicable in the UK and Republlc of Irela[￿ {FRS 102) leffecb've l January
2019).
OBJEcllvES AND AcrivrtlES
Obiectlves and aims
The centre will further the followillg charitsbte pu￿05e5 in Notbnghamshire:
The advancement of education (including physical education} for the publlc benefit, good (itizenship and
avic responsibility and by advanong the indusive education of young people with the alm that it develop5
their mental, physical and moral capabilities mainly but not exclusively through recreational, sports and
lelsure-tlme type actlvittes.
To help young people, especially but rKJt exclusively through leisure time acknvities, to develop thelr skllls,
capacities and capabilities that they may grow to full maturity as individuals and members of soclety.
To prowde or asslst in the promsion of facilities in the interest of soclal welfare for ￿rea￿On, sport or other
leisure time occupation of individuals who have need of such fadllfjes by reason of their youth, age Infirniity
or disability, financial hardship or soclal Clrcumstsn￿S with the objett of improving their condib'ons of life.
The alms of the chartty are as follows.,
To continue to seajre the lor￿ term finanaal stsbility by athiewng annual operating surpluses.
To provide a safe outdoor adventure education ￿ntre offering resldentlal, camplng, att1v1￿eS and faalities
for Scouting and other groups.
To promote the development of young people, allowlng them to achieve thelr full physlcal, intellectual,
soaal and spiritual potendal as Indlvlduals, as responsible cltizens and members of their local, national arn
International communitles.
To achleve the aims and objethves, the charlty plan to increase advertisiro to tsrgeted market segments,
scouts, schools and corporate to drive sales. In addition they also plan to develop and grow these market
segments to encourage international scout group5 and attract more 5chcds.
The tharity are also ￿annIng to develop a better prowsion for disabled and dlsadvantsged young people, as
well as increasing the number of lodges and Crea￿ng an educational classroom,
They are also looknng tr) develop a strurture within the staffing levels and match sknlls and opabillties to
match a development plan as well a5 consolidab'ng core business and cost controls.
The Scouts are an organi5ab.on that the charity co-operates with in a(hleviro their obÈttlves.
The charity is gratefvl for the unstinttng efforts of Its volunteers who are involved in assi5tirvJ the
Maintenan￿ team, assisting at events and summer artivities arKY the Sup[￿ of Scout Group leaders. It is
estimated that over 4,362 volunteer hour5 were provided during the year.
Page 4

Walesby Forest
Report of the Trustees
for the Year Ended 31 December 2023
OBJEcfxvES AND AcrIvrrIES
Fund-ralslng Stsndards Informatl(•n
The Trustees are Committ￿ to fair. honest and ow fiJTrJra1￿￿g and 5tr1ve for hlghest possltle
stsndards. Walesby Fo￿t Is currth unregistered wÉth the FundralYNJ Regulator, lJ3s to date
agreed to be by the voluntsry RNKlraisirvJ Pr(Ynise.
It15 the pollcy of the charity to have w￿d￿reS In to prOt￿t p￿tle in W1n￿able draNllstan￿.
Walesby FO￿5t d￿$ rh)t share or sdl data with thlrd partles for tr￿r ma]kelJrwJ ￿Tref￿.
DLJring 2023 the charlty worked wlth furKlraislro who Is a m￿nbe￿ of the Qorter8J Instittjte
of Fundrdlslng. The d￿rfjty rTh)nitors the &tvities of the fLJtxlralsirKJ Cons￿nt In order to malntsin hlgh
standards and agr& any approths to ftTrJirrfJ.
Feedb* Is welcome, Ind￿1￿ a)M￿aInts, and the seeks to ream lessons Wh￿er concems are
ralsed by thlrd partie&
Publlc bentht
In deciding on the of the charlty, the bustees have d￿ regard to the Chartty CiNnmlsslon guldan
on public b￿￿flL
ACHIEVEMEpif AND PERFORMANCE
Detalls of athlevements and perfornian￿ (an be fouThl vltNn the ChalrnTrn's and Ch￿f Executlve's reports.
dge5

Walesby Forest
Report of the TNstees
for the Year Ended 31 December 2023
FINANCIAL REVIEW
Financial posltion
Although we have *n another challenging year for Walesby Forest, the team managed to produ￿ a small
surplus that conb'nues to support our future development plans. Between the "cost of living" challenges and
continued climate change, maintaining strong ￿mping boolongs has been o challenge. It Is essents'al ft)r the
continued 5UStainability of Walesby that we continue to generate charitable surpluses in order to maintsin
the seN1￿5 that are so Important for the development of the young people we seNe.
Most actlvity sites across the Sa)ut A550aation have either dosed thelr door5 or are struggling to maintaln
Se￿￿5 through these challenging times and this year we have seen more Guiding sites close and be sold.
We therefore need to continue to do what we are doing to maintsin W8lesby for future generations.
Charitable revenue for this last year was up by £120,000 (to £1.56m), but that was agalnst a backdrop of
lower camping numbers. Our special events Induding R)rest Fest, created the additional revenues that
enabled growth ané its Importsnt that in future years we continue to balance camplng numbers being
supported by special events.
Our charftsble costs were higher during the year by £200,OC>O {to £1.48m), which were mainly dnven by
challenges within our catering offering both In terms of over purchasing of Stock and having to contratt In
staff to cover the main season, after issues were found within our tatering management team.
The charitsble surplus for the year was £75K whlch was significantly at variance to the result the year
before, but as a manaoement team and board of trustees, le550n5 have been leamed, whlch 15 an essential
part of g¢xxJ (harity g0veman￿.
At the tum of the last fin8ncial year, we had good cash surpluses In reseNe, which were an important part of
our need to invest further in key proFrts at Walesby. With the elettririty supply to the slte neady at
capaaty and the quality of our accommodation for summer staff mt being to an adequate standard, we
needed to invest in solving both of these. Durlng the year a new supply was implemented at Walesby to
double our elertricity capacity. Again, thls was over 160,000 of capital funding, but wlll secure a g(x)d level of
expansion for the future. We also Invested In our new staff accommodation pods, with the overall project
costing over £400,000 of capital fundlng. Both these capitsl projects are essential In supporting the
5UStainability of Walesby for the years to come and we used our reserves to complete thls as opposed to
goining more loan debt.
We knew that both of these projects would tske a significant hit on cash resew and as we now tum the
end of thbs flnarKial year, our focus will be on the recovery of reseNes once agaln.
As we move in to 2024, we will be bjlsterlng our financlal team, and a new ￿nance Director wlll Joln us part
of the Management team. Thls Is essential in considering our future finanaal planning as we continue to
embark on more joint grant funding channels to support the further development of the site. I would like to
pay tiibute to Tara Mllligan who ha5 been our financial controller for many years and a5 she leaves Walesby
for new opportunltles, we wish her every sU￿e$s.
2024 will see us continue our grant funding applicatlons for the development of the lake and our daim
ègain5t the Coal Authority for the Subsiden￿ we have suffered acr055 parts of the site. It Is essential that
we get this external funding to continue to support the 51te and our strategy for land management.
In essence, the team have delivered a go￿ financial performance agaln thls year, which 15 testsment to
their efforts and our ability to continue to look at opportunltles to support the charitsble purpose, In
dellverfng strong and sustainable acknvities and expe￿en￿5 for young people.
Page 6

Walesby Forest
Report of the Trustees
for the Year Ended 31 December 2023
FINANCIAL REVIEW
Reserves policy
It Is the policy of the Centre to maintsln unrestrlrted funds, which are the free reserves of the Centre..
- tr) cover administrab'on, fund-raising arKI support costs without which the Centre could rKSt funthon,
to provide fund5 whith can be designated to specific projects to enable these to be undertsken at short
notice.
The Trustees conslder It prudent that the Ilquld assets of the unfftstriLted funds should be maintsined at a
level suffiaent..
- to cover the fixed costs of the Centre throughout the period of the year when seasonal income is low,
- to cover the fixed costs of the Centre when income is interrupted due to arojmstances OLrt of thelr control.
The levd of these assets is monltored and review& by the Trustees on a quarterly basis and at 31
December 2023 were considered equlvalent to 10 months of fixed costs. The Twstees viewed this as
sattsfactory.
The totsl balance on unrestricted reseryes at 31 December 2023 £878,979 12022 £793,940), of this
£35,000 (2022 - £26,114) relates to designated fund5 to faalitate the repla￿ment and maintenantr of the
facilitie5 Within the ￿ntre. Available resetves which exclude tsngible fixed assets and designated ftjnds totsl
a surplus of £29,083 (2022 surplus of £28,711).
The totsl balance of restrlcted funds at 31 December 2023 was £67,76812022 - £77,145) this relates to wo
to be carr5ed out on the %te.
Operating contingency rash reserves
Fdlowing the impart of the pandemic and the potential risk to the centre of any fUtLj￿ unplanned impart,
the Trustees have agreed that a formal cash reserve of £135,000 should be maintained to provide a
minimum of 3 months operating cost cover at any point in time.
Whilst at the end of thls flnanclal year the cash reserves fall Short of the target, it is intended that we
continue to add to these reseNes wlthin the next financial year to meet the agreed target and wlll
maintained from that point forward.
FUTURE PLANS
Details of plans for future periods can be found withln the thalman's and Chlef Execuyve's ￿port.
STRvcfuRE, GOVERNANCE AND MANAGEMEKr
Governing document
The charity is controlled by Its governing document, a deed of trust and constitutes an unlncorporated
charity.
Page 7

Walesby Forest
Report of the Trustees
for the Year Ended 31 December 2023
srRvcfuRE, GOVERNANCE AND MANAGEMENT
Charity constttution
Walesby Forest was founded under a constitution èdopted on 2 February 2012 and amended on 3 May 2012.
The charity is an unincorporated trust,. it registered as a charity on 21 May 2012 under clkHrity number
1147348. Detsils of the Trustees, principal offi￿r5 and professional advisors are given in the Legal and
Administration infomiation.
The Chief Executive Offi￿r has day to day managerial responsibility for the slte both operationally ènd
flnanclally, together wlth the thalman he has strateglc accountablllty and has delegat&l alrthorfty to
appropriate limits.
Employees cannot auth0ri5e their own expenses or petty cash ftoats, these must be appmved by either a line
manager or an authorised person.
anges to credit cards, Includlng limlts must be authorised by the chalrman.
Arms length transath.ons Including payments made to kmwn assoclates, frlends or family must be authtsrise(I
by the Chief Executive Officer or Chabrman.
Recruilment and appointment of new trustees
The appointment of Trustee5 is set out in the constitution. They are briefed on all asperts of the charity by
the Chairman and where applicable other TNstee5 prior to appointment.
Oryanisational structure
The Trustees are volunteers with apprOp￿ate sknlls who along wlth the Chief Executive, Secretsry and
Trustees from the City of Nottingham Dlstrict Scout Council make up the management committee who meet
quartedy. Trustee5 who have served during the perii)d and slnce year£nd a￿ *t out within the legal
ar￿ administrative information.
Key management personnel
The key management personnel comprises of Guy Laurie (Chief Executive Offi￿r>, Cart Whitehead
(Operations Director) and Tara Milligan {FIn0n￿ Manager). All personnel pay apart from the Chief Executive
Officer is decided by the remuneration Committ￿ which is made up of Jean Ramsden, Alastair Luff, Da￿d
Hoskins and Guy Laurie. The Chief Executive Officer pay is detemiined by David Huxley and Ajistair Bow to
avold any confllct of interest.
remuneratlon commlttee meet annually in autumn ané make recommendations on pay rtses and
bonuses to the board of Tru5tee5 in the November meeting. The trustees have the final say whether to
accept the recommendation5. Bonuses are paid in Marth following the year after the year end management
accounts are completed. any pay awards come into force in April for the new tsx year.
Risk management
The Trustees have examined the major strategic, buslness and operational rtsks which the cent￿ faces and
confirm that the systems have been established to enable wular reports to be pr¢xiU￿d so that the
rwssary step5 can be taken to le55en the risks.
REFERENCE AND ADMINIsfRATIVE DEfAILS
Registered Charity number
1147348
Prlncipal address
Walesby Forest
Brake Road
Walesby
Newa
NG22 9NG
Page 8

Wale$by Forest
Report of the Twstee$
for the Year Ended 31 December 2023
Trustees
ABOW
D Hos￿nS
ALuff
R Pilkington
D Wilknnson
G Jones
Ms J Ramsden
A Luc2ko
D Huxley
The following Tru5tee5 hold titte to property belonging to the charity at the report approval date..
ABOW
J Ramsden
D Huxtey
A Luczko
Auditors
Mabe Alen LLP
Chartered Accountants
Statutory Auditors
50 Osmaston Road
Derby
DEI 2HU
Solicitors
Knights Solldtors
Embankment House
Electric Avenue
Nottingham
NG2 IAS
Bankers
National Westminster Bank PIC
9 Church Street
Mansfield
Notbngham
NG18 IHP
srATEMENT OF TRusfEES' RESPONSIBILrrIES
The trustees are responsible for preparing the Annual Report and the financial ststements in accordan￿ with
applicable law and Unltsé Kingdom Accountlng Standartjs (United Klngdom Generally AC￿pted Accounting
Pracbce).
Page 9

Walesby Forest
Report of the Trustees
for the Year Ended 31 December 2023
srATEMENT OF TRUSTEES. RESPONSIBILTfIES - continued
The law applicable to charities in England and Wales, the Charities Act 2011, (Accounts and Reports)
Regulations 2008 and the PrO￿510n5 of the trust deed requires the trust￿ to prepare finanoal ststements
for each financial year whith give a true and fair view of the stste of affairs of the charity and of the
incoming resource5 and application of resources, Including the Income and expenditure, of the charity for
that period. In preparing those finandal statements, the trust&5 are required to
selett sultable accountlng wlicies and then apply them consistently,.
observe the methods and principle5 in the Charity SORP.
make judgements ar￿ esbwates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subjert to any material departures
disclosed and explained in the financial statements,.
prepare the financial statements on the going concem ba4s unless It Is Inappmprlate to presume that the
charity will continue in buslness.
The trustees are responsible for keeping proper accounting records which disclose wlth reasonable hcctJraLy
at any time the financial position of the charity and to enable them to ensure that the finandal siatements
comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulab'ons 2008 and the provision5
of the trust deed. TtrEy a￿ also responsible for safeguarding the assets of the charty and her￿ for tsknng
reasonable steps for the prevention and detection of fraud and other Irregularities.
Approved by order of the board of trustees on ................
, and signed on its behalf by..
A Luff - Trustee
Page 10

Report of the Independent Auditors to the Trustees of
Wale5by Forest
Opinion
We have audited the financial statements of Walesby FO￿5t (the 'charty') for the year ended
31 December 2023 which comprise the Statement of Finanaal Activities, the Balance Sheet, the Cash Flow
Statement and notes to the financial statements, Including a summary of significant accounting poli(ie5. The
financial repo￿.ng framewo￿ that has been applied in their preparat'on is applicable law and United
Kingdom Accounfjng Stsndards {United Kingdom Generally A￿pted Accounfjng Prac￿￿1.
In otjr opinion the financial statements:
give a true and fair view of the state of the charity's affair5 as at 31 December 2023 and of its incomlng
resources and application of resources, for the year then ended,.
have been proFerly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿.
have been prepared In accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordan￿ wlth International Stsndards on Auditing (UK) (ISAS {UK}) and
applicable 13w. Our responsibilities under those standards are further desoibed in the Auditors,
responsibili￿eS for the audit of the finanoal Statements section of our report. We are independent of the
charity in a(rordance with the ethical requirements that are relevant to our audit of the finanaal statements
in the UK, including the FRCS Ethical Stsndard, and we hove fulfilled our other ethlcal responsibilities in
accordance with these requirements. We believe that the audit ewdence we have obtsIn￿ is suffiaent and
appropriate to provide a basis ft)r our oplnlon.
Conduslons relating to going concern
In auditing the finanaal ststements, we have conclLJded that the trustees, use of the going concem basi5 of
accounb'ng in the preparation of the financial ststements Is appropnate.
Based on the work we have perfomied, we have not identified any material uncertain￿e5 relatlng to events
or conditions that, individually or collettively, may cast significant doubt on the thèrity'5 ability to continue as
a golng con￿rn for a period of at least twelve months from when the financial statements are authorfsed for
Issue.
Our responsibilities and the responsibilitses of the trustees with respect to goSng concern are described in the
relevant seth.ons of this report.
other information
The trustees are responslble for the other information. The other information COmp￿se5 the informatlon
Included in the Annual Report, other than the finanaal statements and our Report of the Independent
Audltors thereon.
Our opinion on the financial 5tstements does not cover the other Infonnation and, ex￿pt to the extent
otherwise explidtly stated in our report, we do not express any fomi of assurance conclusion thereon.
In connection with our audit of the financial statements, our reswnsibility is to read the other Infomation
and, In dobro so, consider whether the other information is materially inu)nsistent with the finandal
statements or our knowledge obtsined in the audit or otheNise appears to be materially misstated. If we
identify such material inconsiStencie5 or apparent material misstatements, we are required to determine
whether this gives rise to a material misstaterllent in the finanaal statements themselves. If, based on the
work we have perfomed, we condude that there is a material misstatement of thls other infomiation, we
are required to report that fart. We have nothing to report in this regard,
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charitie5 (Accounts and Re￿rts)
Regulab'ons 2008 requires us to report to you if, in our opinion..
the information glven in the Report of the Trustees Is inconslstent In any material respect with the
financial statements. or
sufficient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting recorcls and retums; or
we have not received all the information and explanations we require for our audit.
Page 11

Report of the Independent Auditors to the Trustees of
Walesby Forest
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Resrxinsibilib'es, the trustees are responsible for ts)e
preparation of the finanaal statements whlch give a tnje and fair wew, and ft)r such internal control as the
trustees detem)ine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or emr.
In preparirvJ the financial statements, the trustees are responsible for assesslng the charity's ability to
continue as a going cOn￿m, disdosing, as applicable, matters related to going concern and using the going
concern basis of accounts'ng unless the trustees either intené to liquidate the charity or to ￿ase OFErations,
or have no realistic alternative but to do so.
Page 12

Report of the Independent Auditors to the Trustees of
Walesby Forest
Our responslblllties for the audit of the financlal statements
We have been appointed as auditors under Section 144 of the Charities Art 2011 and report in accordance
with the Art and relevant regulations made or having effect thereunder.
Our objeth've5 are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misststement, whether due to fraud or error, and to issue a Report of the Independent
Auditors that indudes our opinion. Reasonable assuran￿ Is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISA5 (UK) will always detett a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could ￿asonablY be expected to influence the ecorK)mic deCI￿onS of users taken on the
basis of these financial statements.
The extent to which our prO￿ureS a￿ capable of detecting Irregularities, indudlng fraLKi is detailed below:
Extent to whlch the audit was considered capable of detectlng fraud
In identifying and assessing rfsk% of material misstatement in respert of irregularities. Includlng fraud and
non-compliarKe wEth laws and regulations, we considered the following..
- The nature of irnlustry and sector, control environment and business perfomiance indudiro tsrgets for
income and net surplus,.
Results of our enqulrles of management and the trustees about their own identiflcation and assessment of
the risk5 of irregularities,.
Any matters we identified having obtsined and revlewed the charivs documentsts'on of thelr policies and
procedures relating to..
Identrfying, evaluating and complying with laws and regulations and whether they were aware of any
instance5 of non-compliance, indudirwJ any related to the General Data Protection Regulations or Bribery Act
2010.
Detecti￿ and resptsnding to the rfsks of fraud and whether they have kr￿wledge of any aciu31, susperted
or alleged fraud.
- The Intemal controls to mitigate risks of fraud or non-compliance with laws and regulations;
The matters dlscussed among the audit engagement team and incI￿1ng relevant Intemal tax specialists
regarding how and where fraud might occur in the financial Statements and any potents'al indicators of fraud.
As a result of these pr￿d￿￿5, we consldered the opportunities and incentives that may exist within the
company for fraud and identified the greatest potenlal for fraud in the ability of management to manipulate
revenue recognltion. In common with all audits under ISAS IUK}, we are also required to perform speofic
procedures to respond to the risk of management override.
We also obtsined an understsndlng of the legal and regulatory frdmeworks that the company operates In,
focusing on provision5 Of those lèws ènd regulatlons that had a direct effect on the determination of material
amounts and disclosure5 in the financial statements. The key laws and regulations we considered in this
context Includeé the Charities SORP and the Financial Reporung Stsndard 102.
In addition, we u)nsidered provisions of other laws and regulab'ons that do not have a dlrect effect on the
financial statements but Complian￿ with which may be fundamental to the charity's abillty to operate or to
avoid a material penalty. These include The General Dats Protertion Regulations, the Bribery Art 2010 and
Health and Safety poliaes.
Audit Response to Risks Identified
Our pr¢xedures to respond tr) risks Identified above include the ft)Ilowing.'
Page 13

Report of the Independent Auditors to the Trustees of
Wale5by Forest
Rewewing the financlal statements dlsclosLJres and tesYrvJ to 5UPPOrting documentation to assess
Complian￿ wlth provlsions of relevant laws and regulations desaibed os having a direct effect on the
financial statements..
Enqulrfng of management and direttors con￿mIng attual and potentlal Iltigation and daim5;
Performing analytiol pro￿ureS to identify any unusual or urExpetted relationships that may indicate rlsks
of material misstatement due to fra￿d.
Reading minutes to meetings of those charged with governan￿ and reviewing relevant corresw)rYlen
from regulatory ix)dies.
in artdressir￿ the fraud risk in revenue reC￿nI￿On we have tested a Sample of income recorded in the year
through agreement to the relevant sales terms and conditr'ons and bank statements. Additionally, at an
analytical review level, we developed an expectatlon of the income wbth reference to our experience of the
dient and discLssslons on the recognltlon and volatlllty of Income in ￿ year . and
In addressing the rlsk of fraud through managernent override of controls, testiThJ the approprfateness of
Journal entries and other adju5tments,' asse55iro whether the judgements made maknng atrounting
estimates are indicative of a potential bias,. and evaluating the business rational of any significant
transactions that a￿ unusual or outsde the nonnal course of business.
We also communicated rdevant identtfled laws and regUla￿onS and potential fraud risks to all engagement
team members and remain alert to any indIca￿on5 of fraud or non-compliance with laws and regulations
throughout the audit.
Because of the Inherent limitstions of an audit, there is a risk that we will not detett all Irregularities,
includlng those leading to a material misstatement in the financial statements or non-compliance with
regulation. This risk increase5 the rnore that Complian￿ with a law or regulats.on Is removed from the events
and tran5actlOn5 reflerted in the finanoal statements, as we will be less Ilkely to become aware of instan￿5
of non-compliance. The risk is also greater regardlng irreguladties OCCLJrring due to fraLJd rather than error,
as fraud involves intentional concealment, forgery, collusion, omlsslon or mlSrep￿Sentèti0n.
A futher description of our reswnslb11i￿es for the audit of the financlal ststements is located on the Finandal
Reporting Council's website at www.frc.org.uk/audltorsresponsibllities. This desctiption fomis part of our
Report of the Independent Auditors.
Use of our report
This reFK>rt Is made solety to the charity's trustees, as a body, in accordan￿ with Part 4 of the Charitie5
(Accounts and Reports) Regulatr'ons 2008. Our audit work has been undertaken so that we might state to the
charity's trustees those matters we are required to state tr) them In an aLJditors' report and for no other
purpose. To the fullest extent permitted by law, we do not accept or a￿ume responsibility to anyone other
than the tharity and the charity's trustw as a bodytr for our audit work, for this report, or for the oplnlons
we have formed.
Mabe Allen LLP
Chartered Accountants
Statutory Auditors
50 Osmaston Road
Derby
DEI 2HU
7.Lt
Page 14

Walesby Forest
Statement of Financial Activities
for the Year Ended 31 December 2023
2023
Total
funds
2022
Total
funds
Unrestricted Restncte
funds
funds
Notss
INCOME AND ENDOWMENTS FROM
Donations and legaaes
1,803
1,803
1,457
Charitable activitie5
Mixed Camping
Camp Fees and Activities
Caterlng
Ancillary Serv1￿$
145,352
780,720
147,576
222,216
145,352
780,720
147,576
222,216
172,402
827,739
153,701
196,846
Other trading artlvlfjes
Investment income
Other income
252,195
9,727
3,233
252,195
9,727
3,233
89,835
6,000
Totsl
1,562,822
1,562,822
1,447,980
EXPENDrnIRE ON
Raising funds
123,564
{1)
123,563
108,194
Charftable activities
Charitable activities costs
1,354,219
9,378
1,363,597
1,177,573
Totsl
1.477,783
9,377
1,487,160
1,285,767
NET INCOMEIIEXPENDrnIRE)
85,039
{9,377)
75,662
162,213
RECONCILIATION OF FUNDS
Total funds brought forward
793,940
77,145
871,085
708,872
TOTAL FUNDS CARRIED FORWARD
878,979
67,768
946,747
871,085
The notes fom part of these flnanaal statements
Page 15

Walesby Forest
Balance Sheet
31 December 2023
2023
Total
funds
2022
Total
nds
Unrestricted
funds
Restricted
funds
Notes
FJXED ASSETS
Tangible assets
14
814,897
67,767
882,664
800,260
CURRENT ASSErs
Stocks
Debtors
sh at bank and in hand
15
16
13,748
436,516
251,661
13,748
436,516
251,661
14,597
98,023
662,498
701,925
701,925
775,118
CREDrroRS
Amounts falling due within one year
17
{347,405)
(347,404) {398,559)
14Ef CURRENT ASSErs
354,520
354,521
376,559
TOTAL ASSEfs LESS CURRENT
LIABILMES
1,169,417
67,768
1,237,185
1,176,819
CREDrroRS
AmoLJnts falling due after more than one
year
18
(25YJ,438}
(290,438)
(305,734)
NEf ASSErs
878,979
67,768
946,747
871,085
FUNDS
Unrestrirted fLtnds
Restrlcted funds
21
878,979
67,768
793,940
77,145
TOTAL FUNDS
946,747
871,085
The finanoal statements were approved by the Board of Trustees and authorised for Issue on
and were signed on its behalf by:
ALuff-Tr
The notes form part of these finanaal statements
Page 16

Walesby Fore$t
Cash Flow Statement
for the Year Ended 31 December 2023
2023
2022
Notes
Cash flows from operating artivities
Cash generated from operations
{241,924)
205,474
Net cash {used in)/provlded by operating artivities
(241,924)
205,474
Cash flows from inve5tiThg acttvities
Purchase of tangible fixed assets
Interest recetved
{167,930)
9,727
{43,392)
Net cash used In Investing activities
{158,203)
(43,392)
Cash flows from financing activitles
Loan repayments in year
Capital repayments in year
(9,598)
(1,112)
(18,924)
(I,iii)
Net cash in flnandng actiwties
(10,710)
(20,035)
Change in cash and cash
equlvalents in the reporting period
Cash and cash equivalents at the
beginnin9 of the reporting period
(410,837)
142,047
662,498
520,451
Cash and cash equivalents at the
end of the reporting perlod
251,661
662,498
The notes fomi part of these finanaal ststements
Page 17

Walesby Forest
Notes to the Cash Flow Statement
for the Year Ended 31 December 2023
RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING ACtIVThlE5
2023
2022
Net income for the reporting period {as per the Ststement
of Financial Artivities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Decrease/{Increase) in sto(ks
In￿ease in debtors
(Decrea*)lincrease in creditors
75,662
162,213
85,525
(9,727}
86,504
7,749
(6651
(62,808)
12,481
849
(350,4921
143,741)
Net cash (used in)Iprovided by operations
(241,924)
205,474
ANALYSIS OF CHANGES IN NET FUNDSI(DEBT)
At 1.1.23
Cash flow
At 31.12.23
Net Cash
Cash at bank and in hand
662,498
(410,837)
251,661
662,498
(410,837)
251,661
Debt
Finance leases
Debts falling due within l year
Debts falling due after I year
(98,241)
{ii,000)
(208,604)
1,112
(4,586)
14,184
(97,129)
(15,586)
1194,420}
(317,845)
10,710
1307,135)
Total
344,653
(400,127)
{55.474)
The notes ft)mi part of these financial statements
Page 18

Walesby Forest
Notes to the Financial Statements
for the Year Ended 31 Drfember 2023
AccouNfiNG POLICIES
Basis of preparlng the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been
prepared in accordan￿ with the Charfties SORP IFRS 102) 'Accounting and Reporknng by Charities..
Statement of Recommended Prartice applicable to tharities preparing their accounts in accordance
with the Financial Reporbng Standard applicatAe in the UK and Republlc of Ireland (FRS 1021
{effedve l January 2019),, Fina￿al Reporting Standard 102 The Financial Reportlng Standard
applicable In the UK and Republic of Ireland, and the Charitie5 Att 2011. The financial statements
have tEen prepared under the historical cost convention.
Walesby Forest is a registered thartty In England. The address of the registered Offi￿ 15 given in the
charity information on page 8 of these flnancial ststements. The n3￿re of the charity's operations and
prinapal activity is that of an artivity centre.
The (harity Cons￿tuteS a public benefit entity a5 defined by FRS 102. The finandal statemerts have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Prac￿￿ applicable to charities preparing their accounts in accordance with the
Finanaal Repo￿.ng Standard applicable in the UK and Republic of Ireland issued in October 2019, the
Financial Reporting Standard applicable in the United Klngdom and Republlc of Ireland (FRS 102), the
Charities Att 2011 and UK Generally Accepted Prattice.
The flnancial ststements are prepared on a going con￿rn basis under the historical cost convention,
modified to include ￿rtain items at fair value. The financial statements are presented in Sterling which
is the funct'onal currency of the cha￿ty and rounded to the nearest £.
The significant accountirKJ pollcies applled in the preparation of these finanaal ststements are set out
bdow. These poliaes have been consistendy applled to all years presented unless otherwise ststed.
Funds
Unrestricted funds are available for use at the discretion of the trustees In furtheran￿ of the general
objecbves of the charity and which have not ￿en designated ft)r other purposes.
Designated furKJs comprise unrethtted fijnds that have been set aside by the trust￿ for parbcular
purposes.
Restritted fiJnd5 are funds which are to be used in accordance with speclflc restrfctions imposed by
donors or which have been raised by the charity for parbcular Purposes. The cost of raislng and
administemng such funds are charged against the specific fund.
Income
All incoming resources are included in the Ststement of Financlal Attlvities when the charity is legally
entided to the income after any performance condltlons have been met, the amount can be measured
rellably and it is probable that the incorrt will be received.
IncorTE from charitsble activitles incIL￿e5 income earned from camp fees and camp aCtI￿tieS,
catering, Wa￿eaVeS received and telephone and utilities provided. Income is received in exchange for
setvices and 15 recogni5ed when the servi￿ Is complete.
Income from trading activitie5 includes income eamed from promdore sales to raise funds for the
charlty. Income is received in exchange for supplying goods and 15 recogni5ed when entloement has
Ixcurred.
Investment income comprfses bullding society and bank interest. Income is recognised when the
Interest has been eamed.
Govemment grants are recogni5ed on the performance method under income.
Page 19
continued...

Walesby Forest
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
ACCOUNT114G POLICIES - continued
Expenditure
All expenditLire 15 accounted for on an accruals basis and has b￿n dassified under headings that
aggregate all costs related to the category. Expenditure 15 recognised where there is a legal or
constructive obllgab.on to make payments to third partie5, It is probable that the settlement will be
requlreé and the amount of the obligation can be measured rdiably. It is categorised under the
followlng headings..
Costs of raising funds includes stock purthases for the promdore and other costs of running the
providore,.
Expenditure on charitable athviknes incI￿leS the njnning and maintenance of the slte and camp
activities, slte transportab'on and catering purchases.
Support costs are those that a55iSt the WO￿ of the charty but do rTrot dirertly represent charitable
artlvlties and include office costs, governan￿ costs and payroll costs. They are incurred directty in
support of expenditure on the objects of the charity. Where support Costs cannot be directly attrtbuted
to parbcular headings they have been allocate(J to the a)st of raising funds and expenditure on
charitsble artiwties on a basis consistent wlth use of the resou￿5.
Ifrecoverable VAT is tharged as èn expense against the acbvity for which expendlture amse.
Tangible flxed assets
Depreciation is provided at the following annual rates In order to write off eath a55et over Its
estlmated useful life.
Freehold property
Long leasehold
Hant and mathinery
Fixiures and fitbngs
Motor vehicles
5% - 200kn on cost
Stralght Ilne over 99 years
330h on cost
10% - 330/0 on cost
250/0 on c05t
Tangible fixed assets are iriitially measured at C05t and subsequentty measured at cost or valuation,
net of depreciation and ariy irnpairment losses.
The gain or1055 arising on the disposal of an asset Is detem)Ined 85 the ciifference be￿een the sale
pr(Keeds and the corrying value of the asset, and is credited or charged to p￿rit or loss.
At eath reporting perlod end date, the charty reviews the carrying amounts of Its tangible assets to
detem)ine whether there is any indication that those assets have suffered an Impairmentloss. If any
such indication exists, the recoverable amount of the asset is estimated in order to deterynine the
extent of the impaimient Ioss (if any). Where it is not possible to estimate the recoverable amount of
an Individual asset, the company estimates the recoverable amount if the cash4Jenerating unlt to
whi(h the asset belongs.
Recoverable amount is the higher of fair value le5S Costs to sell and value in use. In a5ses5ing value
in use, the estimated ftjture cash flow5 are discounted to their present value using a pr￿taX discount
rate that reflerts current market assessments of the time value of money and the risk5 specific to the
asset from whith the estimates of future cash flows have not been hdjusted.
If the recoverable amount of an asset (or cash-generayng unit) is estimated to be less than its
carrying amount, the carrying amount of the asset {or cash-generating unit) is redU￿d to its
recoverable amount. An impèirment 1055 is recognised immediately in profit or loss, unless the
relevant asset Is carried at a revalued amount, in which case the impairment loss is treated as
revaluation decrease.
Page 20
contlnued...

Walesby Forest
Notes to the Financial Statements - continued
for the Year Ended 31 Decembw 2023
ACCOUNTING POLICIES - contlnued
stocks
stocks are valued at the lower of cost and net realisable value, after makn'ng due allowance for
obsolete and slow moving items.
Taxation
The charity is exempt from tax on Its charitsble activlties.
Trade and other debtorslcredbtors
Trade and other debtors are recognised initially at transacbon Pri￿ less attributsble transartion costs.
Trade and other creditors are recognised initially at transaction price plus attributable transaction
costs. Subsequent to initial recognition they are measured at amortised cost using the effective
interest method, less any impairment losses in the case of trade debtors. If the arrangement
con5trtutes a financial transacbon, for example If payment is deferred beyond norm31 busine55 term5,
then it is measured at the present value of future payments discounted at a mad(et rate of instrument
for a similar debt instrument.
Cash at bank and in hand
Cash at bank aThJ in hand includes cash and short-temi highly liquld Investments with a short maturfty
of three months or less from the date of acquisltion or openlng of the deposit or simllar account.
Pension costs and other post-retirement benef
The charity operates a defined contiibution pension scheme. Contn'butions payable to the charfty's
pension scheme are charged to the profit or105s in the pedod to which they relate.
CRrnCAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAIrirY
The preparatlon of fina￿la1 statements requlres management to make estlmates and assump￿On$
that affect the reported amounts of assets and liablllties, disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenue5 ar￿ expenses during
the reporting perio(i. Artual results may differ from these estimates under different assumptions and
conditions.The judgements, estimates and assumptions which have a significant risk of causing a
material adjustment to the carying amount of assets and liabilities are in relab'on to specific areas
included below..
Expenditure on flxed assets
Expenditure ori fixed assets is capitalised in accordan￿ with the above accounting policy. Where fixed
a￿ets are being construrted, inib'al capitalisation of cost is based on management's judgement that
technical and economic feasibility is confirmed, usually when a project has reached a defined
milestone accordlng to an established date of completion. In detemiinino the amounts to be
capltallsed or If necessary Impaired, management also makes assumptions and ests"mates regarding
the experted future cash generalon of the assets and the expected period of E*neflts.
Depreciation of fixed assets
The cha￿ty has recognised depreciation of fixed assets in its financial ststements which require
management to make judgements concerning the useful life of assets and resldual values. The
judgements are based on a combina￿On of Group wllcles, hlstorical experience and other reasonable
fattors.
Page 21
continued...

Walesby Forest
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
DONATIONS AND LEGACIES
2023
2022
Donations and legacies
1,803
1,457
OTHER TRADING AcnvmES
2023
2022
Special events
252,195
89,835
INVEsfMENT INCOME
2023
2022
Interest recelvable
9,727
INCOME FROM CHARITABLE AcfiviTIES
2023
2022
Activity
Mixed Camplng
Camp Fees and Athvltles
Catering
Ancillary Servi￿$
Ancillary Servi￿5
Anoliary Servi￿5
Analiary Servi
Mixed camping
Camp fees and acdvitles
Catering
u￿lItIeS
Bar
Wale5by shop
Vending machines
145,352
780,720
147,576
22,987
84,831
114,398
172,402
827,739
153,701
27,443
79,789
89,473
141
1,295,864
1,350,688
RAISING FUNDS
Other trading acuvitlts
2023
2022
Retsll and provid0￿ costs
Stsff costs
99,912
23,651
87,220
20,974
123,563
108,194
Page 22
contlnued...

Walesby Forest
Notes to the Flnancial Statements - contsnued
for the Year Ended 31 December 2023
CHARrrABLE AcrivTtlES COSTS
Direct
Costs (see
note 9)
Support
costs (see
note 10)
Totsls
Charitsble activi￿e5 costs
553,350
810,247
1,363,597
DIREcf COSTS OF CHARrrABLE ACtivrtlES
2023
2022
Electiicity, gas & water
Sundrie5
Site maintenance and development
Rent
Sanitstion
Site transpOrta￿On and plant
Activities & swrts equipment
Catering cost of sales
Event actiwties
Depreaation
86,123
25,111
11,236)
9,003
74,968
11,859
35,887
86,082
140,028
85,525
64,463
17,620
66,167
6,395
74,874
12,554
56,694
68,055
86,504
553,350
453,326
10. SUPPORT cosrs
Goveman
Management
Finan
Totsls
Charftsble acts'vities costs
764,988
28,150
17,109
810,247
Support costs, induded in the above, are as follows..
2023
Charltable
artivitles
costs
2022
Totsl
advlties
Wages
Insuran
Telephone
Adverbsing
Sundries
Flnance costs
Accountancy
Audit
Legal and professlonal
672,410
27,501
28,334
26,772
9,971
28,1
3,342
9,669
4,098
602,989
24,657
25,823
25,611
5,573
21,204
2,837
7,053
8,500
810,247
724,247
Page 23
c0n￿nUed...

Walesby Forest
Notes to the FSnancial Statements- continued
for the Year Ended 31 December 2023
11. TRusfEES' REMuf4ERATION AND BENEFrrs
There were no trustees, remuneratH)n or other berEfits for the year ended 31 December 2023 nor for
the year ended 31 December 2022.
TNstees' expenses
There were no tNStees' expenses paid for the year ended 31 December 2023 nor for the year ended
31 December 2022.
12. sfAFF cosrs
2023
2022
Wages and salaries
Soaal security costs
Pension costs
644,029
34,791
573,246
33,655
The average monthly number of employees during the year was as follows..
2023
42
2022
36
Charitable acbwties
FLJndraislng
37
The average hea¢Jcount number of employees during the year was as follow5:
2023
19
24
2022
19
Full-time employees
Part-tlme employee5
The full-time equivalent {￿E) number of employees duriTrJ the year was as follows:
2023
30
2022
27
FLtII-tlme eqtjlvalent employee5
There was I 12022.1) stsff member recelving MO￿ than £60,000 in the pe￿0d, wtti emoluments
falling between £70,000 - £8Q,OQO per annum,
Page 24
continued...

Walesby Forest
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
13. COMPARATIVES FOR THE StATEMENT OF FINANCIAL AcrIvrrIES
Unrestricted Restricted
ftjnds
funds
Totsl
nds
INCOME AND ENDOWMENTS FROM
t)onations and legacies
1,457
1,457
Charitable artivities
Mlxed Camping
Camp Fees and Acknvities
Catering
ArKiliary serv1￿S
172,402
827,739
153,701
196,846
172,402
827,739
153,701
196,846
other trading aLtiviUes
Other income
89,835
6,000
89,835
6,000
Ti>tal
1,447,980
1,447,980
EXPENDrruRE ON
Raising funds
108,193
108,194
Charitable activities
Charitable activities costs
1,169,154
8,419
1,177,573
Total
1,277,347
8,420
1,285,767
NET INCOMEI(EXPENDrruRE}
170,633
(8,420)
162.213
RECONCILIATION OF FUNDS
Total funds brought forward
623,307
85,565
708,872
TOTAL FUNDS CARRIED FORWARD
793,940
77,145
871,085
Page 25
continued...

Walesby Forest
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
14. TANGIBLE FIXED ASSErs
Freehold
property
Long
leasehold
Plant and
mathinery
cosr
At l January 2023
Addits'ons
1,052,584
107,910
iio,o¢Jo
67,775
At 31 December 2023
1,160,494
iio,000
67,775
DEPRECIATION
At l January 2023
Charge for year
409,008
61,651
11,759
1,112
66,377
605
At 31 December 2023
470,659
12,871
66,982
NET BOOK VALUE
At 31 December 2023
689,835
97,129
793
At 31 December 2022
643,576
98,241
1,398
Fixtures
and
fittings
Motor
vehicles
Totsls
cosr
At l JanLJary 2023
Additions
283,217
60,020
7,445
1,521,021
167,930
At 31 December 2023
343,237
7,445
1,688,951
DEPRECIATION
At l January 2023
Charge for year
231,314
20,787
2,303
1.371
720,761
85,526
At 31 De￿rnber 2023
252,101
3,674
806,287
NET BOOK VALUE
At 31 December 2023
91,136
3,771
882,664
At 31 December 2022
51,903
5,142
800,260
InclLJded in the above are assets held under finan￿ leases or hlre purchases contracts. Leasehold
property includes depreaation of £1,111 (2022 £1,111) and net book value of £97,129 (2022
£98,241).
Page 26
confjnued...

Walesby Forest
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
15. sfocKS
2023
2022
Stock for re-sale
13,748
14,597
16. DEBTORS: Amoufffs FALLING DVE WITHIN ONE YEAR
2023
2022
Trade debtors
VAT
P￿paYments
8n
19,467
416,177
3,980
94,043
436,516
98,023
17. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2023
2022
Bank loans and overérafts (see note 19)
Hire purchase (see note 20}
Trade creditors
Taxation and social security
Other creditors
15,586
I,iii
51,593
9,142
269,972
11,000
I,iii
37,677
16,697
332,074
347,404
398,559
The finan￿ lease in secured over the assets to whlch it relates. The bank loan is secured over the
assets of the chanty.
Induded withln accruals are provisions toialllng £nll (2022 - £75,300) that have arisen due to
constructive obligation to maintsin the stsndard of the site,
Induded In other credltors Is deferred ir￿orne of £239,71812022 - £214,418) whlch ￿lateS to deposlts
receved for camps to be held In future years.
18. CREDrroRS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
2023
2022
Bank loans (see note 19)
Hire purchase (see note 20}
194,420
96,018
208,604
97,130
290,438
305,734
Page 27
conttnued...

Walesby Forest
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
19. LOANS
An analy515 of the maturity of loans is given below..
2023
2022
Amounts falling due within one year on demand:
Bank loans
15,586
11,000
Amounts falling btheen one and two years:
Bank loans - 1-2 years
16,600
20,500
Amounts falling due between INO and flve years:
Bank loans - 2-5 years
56,757
73,500
Amounts falling due in more than five years..
Repayable by instalments..
Bank loans more 5 yr by instal
Hire purchase contrarts
121,063
91,574
114,604
92,686
212,637
207.290
20. LEASING AGREEMENTS
Minimum lease payments fall due a5 follows..
Hire purchase contracts
2023
2022
Net ob11ga￿onS repayable..
within one year
Between one and five years
In more than five years
I,iii
I,iii
91,574
92,686
97,129
98,241
NOn-Can￿lIable
operating leases
2023
2022
Within one year
Between one and five years
In more than five years
4,500
18,000
371,250
4,500
18,000
281,250
393,750
303,750
Page 28
continued...

Walesby Forest
Notes to the Flnancial Statements - continued
for the Year Ended 31 December 2023
21. MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
nds
At
31.12.23
At 1.1.23
Unrestricted funds
General fund
Designated - Hedge Funds
Designated - Sherwood Lodge
Deslgnated - Lake Repair Fund
767,826
1,217
24,897
85,039
{8,886}
(1,217}
{24,897)
35,000
843,979
35,000
793,940
85,039
878.979
Restrirted funds
Kemp Lodge
Tree Plantrng
Management Van
Catering Barn
aimbing Wall
2018 Lodge
Toilet Block
Robin Hood Suite Roof
34,944
1,000
2,890
6,249
16,000
3,854
7,708
4,500
(6,670)
1105)
152)
(500)
1800)
(250)
(500)
(5001
28,274
895
2,838
5,749
15,200
3,604
7,208
4,000
77,145
(9,3771
67,768
TOTAL FUNDS
871,085
75,662
946,747
Net movement in funds, Induded in the a￿ve are as follows,.
Incoming
resour￿$
Resources
expended
movement
In funds
Unrestrlcted funds
Generdl fund
1,562,822
{1,477,7831
85,039
Restricted funds
Kemp Lodge
Tree PlantiThJ
Management Van
Catering Bam
Climbing Wall
2018 Lodge
Toilet Block
Robln Hood Suite Roof
{6,670)
(105)
152)
{500)
(81)0)
1250)
{500)
{500)
(6,670)
(105)
152)
(500)
1800)
(2501
(500)
(5001
19,377)
{9,377}
TOTAL FUNDS
1,562,822
(1,487,160)
75,662
Page 29
continued...

Walesby Forest
Notes to the Financial Ststements- continued
for the Year Ended 31 December 2023
21. MOVEMENTIN FUNDS- contlnyed
Comparatives for movement in funds
Net
movement
In fuThJs
At
31.12.22
At 1.1.22
Unrestricted funds
General fund
Designated Hedge Funds
Designated - Sherw¢y)d Lodge
597,193
1,217
24,897
170,633
767,826
1,217
24,897
623,307
170,633
793,940
Restricted funds
Kemp Lodge
Tree Plants'ng
Management Van
Catering Barn
aimblng Wall
2018 Lodge
Toilet Block
Robin Hood Suite Roof
41,614
I,ooo
2,84)
6,749
16,000
4,104
8,208
5,000
(6,670)
34,944
1,000
2,890
6,249
16,000
3,854
7,708
4,500
(500)
1250)
1500)
1500)
85,565
(8,420)
77,145
TOTAL FUNDS
708,872
162,213
871,085
Comparative net movement in funds, incluéed In the abtsve are as follows..
Incoming
resour
Resources
expend8J
Movement
in funds
Unrestricted funds
General fund
1,447,980 {1,277,347)
170,633
Restrlcted fund$
Kemp Lodge
Catering Bam
2018 Lodge
Toilet 8lcKk
Robin Hood Suite Roof
(6,670)
(51)0}
(2501
(5001
15001
(6,6701
(500)
(250)
1500)
{500)
(8,420)
(8,420)
TOTAL FUNDS
1,447,980 {1,285,767)
162,213
Page 30
continued...

Walesby Forest
Notes to the Finantlal Statements- continued
for the Year Ended 31 December 2023
21. MOVEME14T IN FUt4DS. continued
A current year 12 months and prior year 12 months comblned ￿SI￿On Is as follows..
Net
movement
in funds
Transfers
btheen
funds
At
31,12.23
At 1.1.22
Unrestricted funds
General fund
Designat&l - Hedge Funds
Designated - Sherwood Lodge
Designated - Lake Repalr Fund
597,193
1,217
24,897
255,672
(8,886}
(1,217)
(24,897)
35,000
843,979
35,000
623,307
255,672
878,979
Restrlcted funds
Kemp Lodge
Tree Plantsng
Management Van
Catering Barn
aimbing Wall
2018 Lodge
Toilet Block
Robln Hood Sulte Roof
41,614
1,000
2,890
6,749
16,000
4,104
8,208
5,000
(13,340)
(105)
(52)
{I,000)
(800)
(500)
11,000)
11,000)
28,274
895
2,838
5,749
15,200
3,604
7,208
4,000
85,565
(17,797)
67,768
TOTAL FUNDS
708,872
237,875
946,747
A current year 12 month5 and prior year 12 months comblned net movement in fvnds, induded in the
above are as follows:
Incoming
resour￿5
Resources
expended
Movement
in funds
Unrestricted funds
General fund
3,010,802
12,755,130)
255,672
Restrtcted fvnds
Kemp Lodge
Tree Planting
Management Van
Catering Barn
aimbing Wall
2018 Lodge
Toilet B1(￿k
Robin Hood Suite Roof
113,340)
(1051
(521
11,000)
(8001
(500}
11,0001
(1,0001
(13,340)
(105}
{52)
11,000)
(800)
{500)
(1,000)
(1,000)
(17,797)
(17,797)
TOTAL FUNDS
3,010,802
(2,772,927)
237,875
Page 31
conttnued...

Walesby Forest
Notes to the Financial Ststements - continued
for the Year Ended 31 December 2023
22. EMPLOYEE BENEFIT OBLIGATIONS
The Chartty operates a defined contribution pension scheme. The assets of the scheme a￿ hdd
separately from those of the Charity in an independently administered fund. The penslon cost (harge
represents contribution5 payable by the Charity to the fund and amounted to £17,241 (2022
£17,062). Conthbutions totalling £5,084 (2022 - £314} were payable to the fund at the balan￿ Sheet
date.
23. RELATED PARTY DISCLOSURES
T￿MaS Bow Llmited is a related party as A Bow, a Trustee, is a director of that company. During the
year ended 31 Decernber 2023 the company purchased SeNi￿S and goods amounting to £829 (2022
£nill from Wale5by Forest, and supplied materials amounting to £1,09712022 £1,967) to Walesby
F0tr5t. At 31 December 2023 creditors included an amount of £517 {2022 - £nll).
Nottingham Gordon Memorfal Trust For Boys And Girls Is a ￿lated paty as Da￿d Huxley and Jean
Ramsden, Trustees, are also Trustees of that tharity, During the year ended 31 December 2023 (2022
£nill the charity donated amounts totalling £5,000 to Walesby Forest.
City of Notbngham Scout District is a related paty as Dawd Huxley, a Trustee, Is a Trustee of that
harity. During the year ended 31 December 2023 (2022 £nil) £16,260 of wages relating to Nests
Beaton were Pro￿ssed on the Walesby Forest payroll and recharged to the charity.
ULTIMATE CONTROLLING PARTY
The Centre Is Controll￿ by the Tnjstees.
25. KEY MANAGEMENT PERSONNEL
Totsl ￿mUneratiOn for key management personnel was £135,461 (2022 - £189,317).
Page 32

Walesby Forest
Detailed Ststement of Financial Activities
for the Year Ended 31 December 2023
2023
2022
INCOME AND ENDOWMENrs
Donations and legacie$
Donations and legaaes
1,803
1,457
other tradlng activities
special events
252,195
89,835
Investment income
Interest receNable
9,727
Charitable activitie5
Camp fees and activities
Catering
Mixed camping
Ub'lities
780,720
147,576
145,352
22,987
84,831
114,398
827,739
153,701
172,402
27,H3
79,789
89,473
141
Walesby shop
Vending machlnes
1,295,864
1,350,688
other income
Other income
Grants received
6,000
3,233
3,233
6,000
Total Incomlng resources
1,562,822
1,447,980
EXPENDThURE
Other trading activities
Retail expenses
Providore cost of sales
Wages
6,327
93,585
23,651
6,185
81,035
20,974
123,563
108,194
Charftsble activities
Elertrlcity, gas & water
Sundries
Site Maintenar￿e and development
Rent
Sanitation
Site transportation and plant
Activities & sports equipment
Carried forward
86,123
25,111
(1,2361
9,003
74,968
11,859
35,887
241,715
64,463
17,620
66,167
6,395
74,874
12,554
56,694
298,767
Thls page does not form part of the ststutory finanaal ststements
Page 33

Walesby Forest
Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
2023
2022
Charitable activities
Brought fO￿ard
Catering cost of sales
Event acbvities
Depreciation of tsngible fixed assets
241,715
86,082
140,028
85,525
298.767
68,055
86,504
553,350
453,326
Support costs
Management
Wages
Insuran
Telephone
Advertislng
Sundrfes
672,410
27,501
28,334
26,772
9,971
602,989
24,657
25,823
25,611
5,573
764,988
684.653
Finance
FInarI￿ costs
28,150
21,204
Governance costs
Accountancy
Audlt
Legal and professional
3,342
9,669
4,098
2,837
7,053
8,500
17,109
18.390
Totsl resources expended
1,487,160
1,285,767
Net income
75,662
162,213
This page does not fomi part of the statL*tory finandal ststements
Page 34