forthe Y•ar Ended 31 Dec•nber 2024 Ststtthy AJAlTrtLYS DEI 2HU
Waksby Fore9t Contents ol the Fknandal Staternts for th• Y4r Ended 31 Dttenthr 2024 almn.9 Rwt I to 2 Chld Executlve'$ RaPt Rwort olthe Trnsie 4 to 10 Rqjort ofthe Independent Authorn 11 th 14 Slatemwtt rf FlnJnd•l AcUvlO¢s Baljnee Sheet 16 Cash Flow Statsmw 17 Notss kn the Cash Fl¢M Statthnt Not£s kn the Flnandal St•tanents 19 to 33 34 to 35
Waleth Fore
Chalrman's Ropwt
forthe Year ETrd 31 December 2024
The Maclrm cornJfu(KLS ttE tharfty has for s&Eral yeas rthy ha not been easy. We
have had to conterKI with (aintE5 (auseAI by W the PareMIC, suryku Infialjon, polltical
ttamlI, alorwj wtth the n0C&ert d thge5 to ttE ApP[liCe51p sc1v, mIrmn Y9ts aTr
Employws National Inswrfft CorthbLrtkns. What ts fm trt (Jartvs perf(¥Man thts year, inco
arml costs have been extremely th0111 wtth tre w&ither and cost increases a maJLY fthr v4hlch
comb[nl has had a rRgaUve effett OLW (ath reseNe& We have contsnued to ImFrn on keeplr#J o
staff and volunteers safe, we debm for Olr abtLW, regar(less cl that Is gLMrwJ on arournl
The Impllcatlons of 2024 were nlfy2nt ur(c&llrKJ wth a b( we have ojntknwl to
Invest for growth e5tedalty¢ In stafftsyj arml we Nkda Tewson as OLr Hnandal and Commerdal
rector. TINS sentor ieaderthlp has alh)wed us to on key areas indudlng governae aNI
commerdal aLtiwty althng the te to b#fft 0vase by senlor apIn¥
The 5tratsJlc &tk)rns the TNstees tskem In to realL crtr sustatnaLle growth vWon are
embedded, It's very dear we need to reAeH all areas of txjr whKh we htrj In earfy
January 202
Our straty, govemed iv tJu board, 5kn and effeLve; operate sustsinèbly, cytsmlse
0FraonS, expa1 our offerfng, and deFAoy catrj tlwhtfijly. lISt the tharlty objth have mt
changed slgnlficanly ¢Jver the last few 5, fi111$ (fj strakn have aliwed w IItW and
thLs wlll be challenged dLtr1rwJ ow tr) comw ty June 2025.
Whlle Board has stwarded the Chartty through a saies of extrajrdlnary ctrcumstsnces, the thallenges
have been tsken head by our #aff aml Tlw1¥3ve agaln, demonstTrted Tr res111
and detemilnation atKI TrtBteÈ5 extervj thjr gratIt thkS to the ttre Walesby tearn.
As our (apabIlle5 have expand1 the verticaly Irte971 stq) shc4) nde1 has Mred, wr
' oppNn1lieS for self-hdp tove grovm, rdnf(xtlTrJ ow lI1e. our rellae on one (Dre of
As an estsbIld charfty, 1th a past sw£essftJ rth fv grobrth and $h geIon, growlng revenue
and Prodjng a healthy cash surplu5 frcm fAr {wati ovtr tt t two years will be
CThalrnian's R40rt for the Year Ended 31 Dethnlw 2024 M•naglry our Rlsks & Opportunl Ihe Board of Tntste£s are reSlIe for the tharilie5 sysiw of rlsk management 5traty and vlth what has trwppened the last few years has shosn OLT lr4b11ty io In a spedallst sector. Headlng Into 2025 managltvj our rfsks ar]d (pExni1je5 wll oJntiNR to be WJmlrL By Identlfylng and managlng our rfsks efftfvetY we can foos (fft kn.terni OprtUre pJJthtka1 rlsks n(t pre5endy IoWn or ClreY deemed to be I mthal may at91 an Jdvetse effect on the In fUre. Rjsk Is an Inhwit and accepted dement of ()Ing Ix&ness dfecbve tsk mwgement Ls fuNJwnentsl to how we run the charfty. The ttharity apCth to rfsk managwngrt Is to Identlfy key rlsks aryl tIEn to devdop artbns to pr(£ess wlthln owatton trj ¢x mItigatele tls to an atyable Jevel. Mothg fomard our rfsk aNf control ThEasure5 Implurl tw tP IJu8t, senior managanent team C4nfjntd to strertsn&l wlth the forma145atJon rf QLT FIrwI Commltt and th expanslon of the PTDpety and Assets ccMnmÈee remlt to Induth Eyoputy mirrtu)arTr allovdrg strong g0vMn and an )Jdltlonal supwrt StsaUre. 1 su1(MStteeS are dkirul by a with Execthve Officer present or one of hls ctrdrths. I wwld a150 Ilke to thar&k Jean Rams(len arKI RIMI Iwve b)th rEtlred as trustees durkng the yEar who ¢dIlY wovld&l maTty years of (ieJlc&d SeThI cortrll)utksn to th drity. It was an abKluts pthsLre wuklr¥J akde th&n L¥)th aT¥J l t1M arKJ thelr famllSas wdl ts the fut Waletsby ForESt Is a thartty, okvatir#J a doJKd arKI acVbAty cstre for yourvj people IrKlusfve to all. 7he charity not 0Y req &tenslve fundiw a large tn of vdUnrS and staff, arKI witlv)ut ihls comblnauon Walesby would not be able to ]I[be5 a1 services that our (stoMerS demard. Whlle thÈre I many contributors to $CesS thatity, at Walesby Forest IVS our staff and nteerS that make the most matsrlal dIfferen. Yet again trw FKave dernc ranarf<abk fObjde kn the face of eat unrtaInty to produ re5th, and trE L)ard (rf trust thanks theL ibllltles to grow and maknre. As we Contin to gr(h¥, ttYxKJhtfiJl &Ind[bYe wlll remaln cwtrdl to the t*s' C{MderatIOr balaThJrrfJ with nthlty, arKI tharKJal bIlty wlih value (Teatl(ty). There Is much to bok ftinvwd to. We atp exot& futh aKI Walesby For& wlll yeats ahead. Allstslr Bow Chai
for the Yèar Ended 31 Dembtr 2024 2024 v•Bs a very dffiaAt year for oity, a cimLthètkn of negative t&LDrs (rmnlng toget that the tharlty hard. Pr weatrEr for t flrst frNM)rth of the yew h&wily Mpa(l n(MmLErs of mlxed gro cwnplng and correswndiTYJ secorKlary swd. Trt natkThl a)st of lIn9 af5is Carr on through)ut the ypar th customers having less In th Fxk&5, arnl luxwles sIKh as a %Yeekend away bdrwJ cancelled. Etthst rates set by the Bank of England remalned sknthmly hth, a1n leavty navon wlth less avallable money to spend. SthCl rellected drvJe in the rotion's ttonom1c sltuatT(ffl and moved to etther shorter residetlal sla, cff to cky Instead. Fh iSe5 ts the national lIng wage, of iwenty perc to the appretti alone, m ow stsff Lt6ts w high. c05t of our dedrldty more than doubled vhn our old (£tt Scout arKI Glide mmv5 were below tsrget year. at the start of the year by the Gulde5 aLwJut use of Walesby Forest wh) nlxed group camptrrfJ was on slte rteA1 In the loss of a £40,000 booknng. Our Wal&sby Forest ourvj a1 g wue rthsha iwt conljnwl to struggle to attrart suffldent numb¥s to make them In partjojar the first week of lJ)e thJc4 SUrrer holldays where orty three groups came to slte, wdl tel(Y•V the tsrget of at kast a 1JKxJsarnl knjts and ride% IJSCLtsaons wlth county &Tuts arKI Gutdes atrxJLrt ntU% a deTh¥ay to ty ¥KI drfve up mcre Mlxed group number5 Cortlrwl to strgle in 2024. A a)mInat[cln rA e((x[C drcumstae5 In the UK and exwtlonally Or w&3ther conditfons for ttE slx rrb)nts hlt very Ird. months to JurE 2024 ve 0ft7clalty the wettest on rOrd In UL ThankftAty the weather Improved In July and At and we were able to daw ba( a pmwtion of the k)st Income, but we stiH fall to meet the target A ralew of weekend adIabIlIty f(r 2025 was aryl ]t was wJeed that we VAII foc$ mixed gvoup camplrtrJ durfThJ sthoot aYKI bank MaYS reshlual Vme to membeJshlp groups who are le55 aff by the wets. Th15 ¥1 be reed agan In 2025. SthLX)I customer numFRrs rana1 vffy 4JtyvJ de9e the tharrfje kn thy ithwathn a1 corNErslon to day trfps only, Feedba¢ fr(rfn custom&s In 2024 Tfywas tt tst on rec(Yd a)d has resLtted In excellent rebooklThJs for 2025. In a(klitkJ) we have CAst0rs from [thyShi Scmjth Yoth5hke hwls, part of academy thaits and thruh 9XKI moLth. Unfclknnatelyi ttE sdyJ)1 secondary spd was down due to studerts cthrArwJ to lte wth le5S The Camplr¥J aKi Carawdnnlng aLt T0rdg Tre Blg Fake F&tral were a trJ gxtESS agaln, al't In keeplng wlth all ottw customer se91 seLDThdary 9) was down. Discuss10Th5 wlth the Blg Fake Festival have in them stsying at Walth ftest untll at least 2029 peTrllng flnanclal aThl hlre 4greements berry slgned. LcK)kirwJ forvlard, Y &e vY PLYsulry other large xale events tt wlll gerrzte a substsrtial for ts tharfty, rAu5 [bIek a ots for site ts) o{Je others to use our fadlltSe& Operatl¢)nalty, dll7laJlt dedlons ld to be m to mWte the )1Th3tKlal PDNems faced In 2024, Seasonal stsfflng was curtailed earty. avdng arKI markeung redLK8J, aTrJ all other areas of the te nrft0red very dosely. Ihe mantsnwe tean was Unsett tty(wlt the year resulting In several of the team leavfng. Our and safety was the best on record wth zero RIDDOR events a 40% reJLon In acddents, ldents near ml 2025 Fromlses to LE a tslcky year agaln. WNlst we seen tkree Bank of ErvJlarKI intentst r reductton5 San the 2024 electtm cost (rf Ir crt4s prÉvalls. Changes to employers nanal insurdre combined large incrffises to the national liwng agaln ha¥E finan. The chaty Is doubling Its efftirts to thase mre edLTrtional wcAk, Ys Source of income, that cornpfimw)ts the current offer, The OP[K$ a w bOOTh Webs wtsents, comblned wh a vastty Imwoved in.house marketirNJ ablllty, arNI opkn SI[KI Nre othw major wents belng pursLEd, have gwen team a renewed foats arKi knte momng fc*w¥d. Guy Laurfe CEO
Walosby Forn Report ofth• Trnst for the Year Ended 31 DMb 2024 31 DeCnbU 2024. The tnLStee5 have a(knptdl pvétskons L( Accwittng and RepN)rtlffJ ty tharltles: Statement of Pra(tice applicable to thyrtues Ir ¥counts In acLDrdafft wlth Flnandal RepOrrrfJ Standard a[CaLle In the UK JKI Repthk of IrelaTKI (FKS 102) (effectlve l January 2019). Objectlves and alms The centre 11 ther fdh3brj tharKable pwrmxes In Notth¥lKimth1. . The advanC&mt of eiknzlkn (I[KI11ThJ physka 3t1) for public gocJ ddzenshlp and dvlc PonsIbIlty aThJ by advandng IfMJuthE eOn peOe wth the aim it develops thejr mentsl, phys1 mcal tbltieS Ixt rw)t exthLvdy trn reon, spxts and lelgJrtr¥me type . To help yourwJ wple, espe(iaHy but not exd thrcwh leisure ljtre athltie5, to develop thdr thllls, capadues aTrJ carAtxlllJes that they nmy gn)w to matyrtty as ldlS and membw5 of N)dety. - To prode or as4st In the Frovlslon of faalities kn the InteSt of sodal wre for reLreation, sport or oth lelsure Ume [PaOn of irKIMdLols wlk) have red of fwJllUes by rea9Jn I1r youthi age Inflm)Yry dlsatJllty, financlal hardshlp or 9Jdal araThstarKes vlih ttE ob1 of thelr oJndlttDns of11 alms of as frAIows: . To cDnttn to seCe trE long twrn flnKaal siltLy lry aywal operabrKJ $U. . To pro)Ade a safe OLtdoor thnlu ethKatlon re51th[, crylrwJi actlvlttes arnl fadlmks for ScoutlThJ and Oth groLP& . To promote the devdopmert of young al[[j to arhleve thetr fijll physlcal, Intelleci1, sodal and splrltual potentlal as Indid, as re5wn5it4e ¢Jtizens aNI of tr local, nathjnal and YtematkThl comMe To athleve ams ObJVe5, the tharfty to irKrease thb5irwJ to targd market segr(w)ts, SCOLts, 9thcyJ15 and cThirdie to dhve sates In •JdlUm ttw a19) Flan to dev) and grow these mark£t The diarfty are also planning to devdop a better pmisKtn f dlsaL4ed dlsa(fvartaged ywrKJ 0p, as well a5 Inueaslng the nLber of Icdges aTrJ cr&itirwJ an edatronal dassYo(xn. They are also Iwkjng to develop a structure witNn the siafflrvJ Iwejs aThl matth sldls capeIleS to match a thvdopment plan as well as c(xwldaUng c(e LxL5ine55 and co# c(wtrols. The gxuts are an organlsatlon that the C0e$ vAth In athl) thdr Ob The drtty Is grateful for the unslirrting effort5 rf tts wlxs are Involved In assISd the MaIntenan team, assiqting at events and yThner a(tNlbes and swrt of Scout Grw leaders. It Is mated 4,050 pre prothl thTlro the yw.
Walesty Forest forthe Ywr Ended 31 Decemkn 2024 OBJEcfivES AND ACTIVITIES Fund-raising Standards IntornhIoTr The Trust are committed to falr, aNI Ipen furx1raisl ar¥J strlve for Nghest stsndaryls. Walesby Frt is aTrentW urwlstered wth Fun(hi&NJ RwAator, and has not to date agreed to be btyjnd ty the Ng)ILmtsry FjralSlrYj Prthnlse. It Is wllcy of tharlty to have b) wrtect natrIe CMmstses. Wale5by Forest (be5 not sPwe sd dats wlth trlrd their marketlw b Durfng 2024 the thartty wcxlod wlth one ftwKtralarwJ c(wli3rt wh)15 a member of ts tharterEd tnsbtute of hJndralsIThJ. The tharlty MOtors ts acilth rf the (j[rt In order to malntsln hlgh standards and agree any 4xJroathe5 to fuNII rolsd by thlrd In deodlng C the actiwtks ¢5 the thty, tN5te85 have rtsJal to artty COMMISth guldan Ilc benefit ACHIEVEMENTS AND PERFORMANCE Detslb of athievwmts can withn ts Qkiinnan's Chlef Ex8thve's
Report olthe Truste89 for the Y•ar Ended 31 De£4M1 2024 FINANCIAL REVIEW Hnanclal p)sltlon 2024 has a very dlldwlNJ year for Waw Fcfeg as made tts flr amual defidt In years. Wlth a comblnaYon of fijIrd1ng belr¥J d¥n on ttE wvllous year a1 unforeseen costs In relat to utIIIYes (electrkity) bdtYJ COnshJa t1 pknTrRd. th• end1 wsth an ¢Jefftit of £57J)14. The ec(xvnlc duTINJ the star has conljrn to be dkn, with mary visltix5 r¥)t twrhJ the dlsp05able income as we have seen In previ5 year5 and Sary 5perKI a¢7055 board sjffering. It 15 through this rtthLKthn h Sec WKI tINat ha5 primartEy aff&tsJ fund osirNJ. We also had challge$ vlth OLr utilltles dLMing year. Followirnj a s$fUl wde to the swppty to the slt< we f(d due to rE•Y nkn, to trangtion to Brlysh Gas Buslness. T gjbsequenty nVed our tariff, wNth res In a cost rle fr(4n tw(hJet of some 200%. Wh115t we thls wlth the omtXKimn, were In a redLKed tsrtff Lrtll tt of tre year and have to weather IMW on hkjher elthdty cost& r ftKX&S Inio 2025 VAI recov of restr4S and a new re ha5 been establlshed. Thig wll be eSsenal as we lo)k to hve5t kn fre years to malrtaln ewand the slte. We are also tsryeting a thange In the management of our osh ilchv, lly for ttE 'out of seas, morths. reducing our rellan on deFosIts. Thls PdeS a rtrallgnment of finandal nTr)del arxl Imwove5 our k)ro-taryn sustaInabll. flnandal drth has ben a gnIfirt to Ixxh the leader4Mp team arn1 our day to day fI1ndal ar commerdal marwjem We erthaed the managem&tt around financial forecastlry the Intnxluction of the Hnartt Comnltiee has erL rnLYe trnnsparerLy and greater visibility of trends and results cffl a rnrA)th-by-rrMxth ba% So, whllst we have had a (hala firjaV, we have made shjnlficart sirkles In the rkJF eNlromnt fvr fubxe year& Our foojs as we rr iro 2025. wil be to esiaNth rne at Walesby to supplement OLf fuTh ralslrvJ and to allow us to pthde Servi ft thVIx rf Iwg pwple at an affordabte cosL Thls 11 tcome a key part of our anThl to tr COned success of the charlty and to prov1( the sustslnth base to drfve ImprwEnts In ddrRJirKJ our tharitaL4e c4)Jethve&
Wal4 Forest Report of the Trnstees forthe Year Ended 31 Decembw 2024 FINANaAL REEw Reservts poll¢y It Is the pollcy of Certre to malrtaln LWestrI fiJKts, whlth are the fr r£e5 of the tre. . to cover admlnlstrdljon, fvThSral[Nj wtv#t cnsts v•ittNyA Ythd) ts Catre cCd fiJncJion, . to provlde fiJTrJs whlch be to $C tnJ&ts to ale tse to be Lllmlertaken at slKJrt no. The Trustee5 It prudent tht ttE lIql assets rf Ihe fwAls mairthtd at a levd wfflaent . to cover the f6xed costs of Centre thro]1 of the year seascAl Income Is kjw, - to cover the fixed costs of Certre Wh Inoxne Is IntaruEted due to (kMStan5 out of bwr c(thl. d of Ith assets Is Thonit(ThJ a1 ttE Tr on a Qrtety ba5 arnl at 31 Decernr 2024 yre consldered equlwa1t to 5 of fixed cas The vlewed thls as satisfactory. total balae uwerkted resuves at 31 Dec 2024 £825,585 {2023 - £878,979), of this E35,000 (2023 - £35,000) rdates to deggnated fwKls to fadlltate the rOacema and rnaIrtenèn of the frdcllltles wlthln tre. Avall3lk erVeS wlich ex(kKle tsThJlble fixed assets and designated funds totsl a defidt of £437,018 (2023 - sj[ of Q9,LYa). total bala of restri¢tsJ fiJr¥ts at 31 DeLYfi 2024 was £fA,148 (2023- £67,768) thls relates tj) work to be can1ed out on the slt& Opwatlng cortlngew ash re¥eTve$ Follong the Impatt of the pan(knnic and the tal to the of ary future unplanned impa( the Trustees have agreeAI th& a fom[ cash rvJerve of £I35,1X Str1d be malntalned to Pde M1muM of 3 montlL% (4)erath cost Lrver at pdnt in th Whi15t at eThl of thls fln0tal year the osh reswNES fal st¥xt of ts taiye¢ Is inteTrJed that we anLE tv 8dd to these reseNes WIttn the next fina{al year to tr agreed target a1 will be malntslned froffl that pdnt fcn•ffird. A w formal resm p)Iky wlll e5Labiished In 2025. FufvRE PLANS Detalls of plans for future on i f(Mmd vKthln Chairnwn% aNI (Jf ExwJAtlve's rwt. STrUCTURE, GOVERNANCE AND MANAGEMENT Governing document charfty is contrdled by 9)vthTrJ (k0 a degj of trLtst ark1 nstit an Mln(xJJpcated ctsrity. Page 7
Walosby Fornst Report ofthe Twstees Year Ended 31 Deoymbw 2014 srRucfvRE, GOVERNANCE AND MANAGEMEpir Wate5by Forest was fotWKled a corEUtthron a(kptal on 2 FthRry 2012 arnl amended cn 3 May 2012. The charfty is an unlrmrp)rated trlstr, It reglstaEd as a tttarfty m 21 May 2012 urts tharfty number 1147348. of the TJ, are In the Legal and Adminlstratlon Informth. The Chlef ExeVe offi ha5 day to day Maerfal r4MbIty for the slte both operaljonolly 4rbJ financlalty, together wlth the doirman he has strab) accoLrtabllty has egated authortty to appmMate Ilmlts. EM0yS (xnrrt altilse th (V••n expfft5 (r pty cath fkts, ttr wrtLSt be apkThEd ty eltrr a Ilr managtt w an auth)ris&l pusrm. Ihrwjes ts Cred carlts, IrKlwttw Iwrits mt6t authcwll ty the dlnna Amis lew trdrthtth)ns Induding to kmvm a&sodates, frlents or famlty mLtst te authorfsed Chld ExeaJtt offi rA {irman. As we trdnsuon Inio 2025 the charfty be a fornwl rthy of ks cor<ulon In IltR tts de51re to move to an TncxxFJratd (Ikirity new {]• Commtsslon gLIdelIr. appolntment of Trusts Is s (¥Jt In a$tJth. Ttw ¥e brlef6J on all asrects of tharity by the Chalman and wl)ere apFrflcabie ottw TrL&ees prfor to apw4tm ganItilmI The Trnstee5 are vdunteus with Wvlate wlth the Ex, Swetrary aThJ Trtee5 from aty of Notbngham D15blrt c11 make up maroGemnt commItt who mt quarterfy. Trust5 wlxj have Sed the pthl Ire are sd out vthin the legal arKI admlni5trative infc7naVon. Key management personnel key managent personnel corryrtses of fAry Lawle EXeart Offiw), Carf Whtt& (Operatlons Dir&tr) and Nkda Tews(KJ (FInan Dlrectrf). PJI perso1 pay apart from the Chlef Exsjjtive Offt(Er ts the ranurwation tommltlÈe is made up (l Arev LLKzko, Aa5tair Luff, Davld HoskFns aNI Guy Laurfe. The tjief ExenAfve offl w15 deterniiwj ty Davld Hle¥ and Alstslr Bow to avold any Lunfiltt of Interest remLWTrtlon ccrfnmltt annL• In authn a1 make rM[End8cLs on pay Tlses and b)nuw to the b&ird of Tnts In Novemter tnjstees have the final say whether to acrept the recommendatk)n& Bon are paid In foikwru the year the year eTxI marffigement accourts are comtAeted; any w awanls c(Yne Into fcfi2 In A11 for tsx . Risk nnagnent The Trustees have examln&l the major stra iyL4rEs5 arml opeTrti(aI r15fv3 whlch the CEntre fa and confinn that systsms have been e51ablished to enal* r8Jular rep)rts to be that the rcesSary Sty czn iaken to lessth ttE rfsL& REFEICE AND ADMINislliATIVE DEfAns lieglstered Qarity number 1147348
forthe Yar Ended 31 De£ern 2024 Prlndpal addrws Wale* Rffest Brake Road Walesby Newark NG22 Trustees D Fh)sktns R HIkIng (reslgned 611212024) D wilnson G Jones J Ram91en (re4gne(171812024) A L(Kzko D Huyjey D Ankrett (appotnted 221212025) followlNJ Trustees knld tiue to kYoFty be1j to dkylty at trE reFWt aw¥nwdl date: D Huxley V4 Audittsr6 Mabe Allen LLP ststLthry Audltors 9) Osmaston Road Derby DEI 2HU Sollcltors Kn';ghts SolidtU5 Embankment H(A Elethc Avern Nottlngham NG2 IAS Bankers Naoonal wtsblllner Bank Pic 9 Churth Street Mansfield NotbNJham NG18 IHP STATEMENT OF TRusfEES' RESPOIISIBILMES The trustees are responsible prepariro the Amual Rerth and I finwKlal statdnents In accorthnce byth appilcable law and UnTted KiNJth)m Plthi Star(L8 (Unlted fAHally Acceptgj Accwnyny Pr3¢t1).
Waw Forest tor tho Year Ended 31 Detwnbw 2024 srATEMEpif OF TRUSTEEV RESPONSIBJLrrIES. axrtlnued The law applw2ble to tharities in ErrfJlaThd arml Wales, the Oorftjes ILt 2011, Charity (AcTrunts Reports} Regulations 2008 and pS1{S (rf the tnL5t deed r@pdres ts tnLStee5 to rKepBre finarKial statements for each finandal year Wh glNE a bwe and falr of the state of affalrs of tf charity and of the IrKoM1 resour and atvtl¢2tbn c( re50Lrn. the I aThJ eXPwre, of the clHrfty for that perf(Kl. In preparkng ttK)se fknaThial ststawts Intst a req(Ir&1 to . select <able acrountiThJ policles atKJ then appty thwn ccn4statr, . observe the method5 and prlndrAes Charlty SORP; . make JL¥Jgements arktt &tstr that are rthsonable aThl . State whether appllcable aC£ntIng sianthr(ts have be ft4kwA, to any materkl dqJartLres disdosed and explalned In the finaThJ Statements; . prepare flnaTrdal statements on the Wrwj c(¥Kern ba lesS It Is hwrvDwrate to pres that the charfty wlll conuwe In buynes TIE trustee5 are reSpSbIe for keeng r015 dlsdose Ylth rEable a(ruracy at any tlme flnarxial posbon of the charity to Ym to ensure that finanaal Statements comply with the (hriknts Act 2011, the (harity (PKc¢xwts aThJ RepoFts) Regulation5 2008 and the pThiiorts of the tn deed. are alg) responslbje for 5af9JLkirdlr the assets of the thrity K1 hen for taThJ reasonable steps for preventim arbj detedim of fr&KI and rther irdane$. )proval by order of tre t)ard of tristees - ... ................. ... ...... . ... on Its b*lf by.,
Rewt of the Indep•thrt Alor9 to the Trust Walesby Forest Oplnlon We have audlted the fln(7a1 StatNts of Wale5by Forest (lthe 'chartV) for y&ir eThled 31 Decemiw 2024 whlth comprlse the Ststefftht of FinarLial Athiks, the BakrKe Sheet, the Cash How Statement and notes to flnanckil Statements, indudtNJ a ry of sgnlficart accoMVng prAldes. The finandal reportlrKJ framew(k that has been apptled In th weparaU( Ls awllcaL4e law United Kingdom Accounting Stsn¢krds {UnW Gwally AcceFtsJ JLt£xmtiNJ Pr¥tts). In our oklnlon tr finaNkl Statem$. gfve a tNe wjd falr vlew of the state of the tsrws affairs as at 31 Deber 2024 and of tts IrKomlng rar ar apdthtKsn of res0$, for the year end&l; . have been property prePad In aco)rdarKe Lknlted ¢allY AptaI A-(Alng Prath; . have ien prepw&l In accordarKe wlih rranents rf ttE (harities A(t 2011. Basls for oplnion We conducted our audlt vAth tntvnationa StaTrJards Athlyrg (UK) (ISAS {UK)) arKI appllcabte law. l)Jr res)lI11ftIeS Ih)se arKlards are deSrytd In the Auditnr reSpor1b1lltIes for of ttE flnaThthl ststemwts sth of our rerL We are Indndent of the arw In a(rdn with the eth1& reqLlrerrEnts thot are relant to aL1t of the tlnandal ststements In UK, Indlirj FRCS Ethkal Stsndanl, aTrJ we have fvNled our other ethl(xl responslLilitie5 In accordan wlth these requlremerts. We Wieve that eVKI we tove obta[d Is sufficient and ap)pats to prOe a basts for opinion. Conduslons relating to gokng concern In audidng the flnancid 5tatetvtrts, we cor¥Jud8J tlkit tru5tees' Use of the gdng concem ba9s of accounung In the pwratlon Ltl stateffl Is &3d on the Work we ha Fthed, Y love nct IdenIffi ary mat1 uncertalnties relaljng to evers ¢x condmors tha( IndidullY or cd1ectbveI, rw cast scZnt (hxA)t d)ariVs abitY tD Q)ntlnue as a goiTVJ concem for a perf of at least from the fi[kirJaI statements a authortsed for Issue. Ow r&Y)nbIllIjeS and the re$rSlirItIeS (l the tJUSttts vlth rw to grwj c(XKtm are descrfbed In the levant sethrms of trds rewrL Other InforntIon The tnjstees are re5ponsbi le f(K I othw Infvmiatkn. Tr other Infwnatson COme5 the InfOrMaOn Incbjded In ts Annual Repo¢ ots the frnal statanents and (w Rem of the Independent AJItOrS ttwe OLr oplniM on the finandal ststermts (knes mt LXW the ¢)ttw arNJ. except to the extent Othe explldty ststed In our rwL do eoFess form of asgjrance ther8)n. tn COnnOn with ow aud (rf the ffila[ ststaws, (u rwslbllity Is to rwl oth Inf0mtIon and, in so, consder wlher •Ythtr ErthTrwilc Is rnaterIa incor6lstent with the finCkl statements or our knowledge obtalned In or (rtlvvlse appear5 to be Materfal misststed. If we Idenfjfy such materfal Inconsskndes or appart matertal mFsaterrts, we a required to detem)ine whether tNs givts rlse to a materfal mlsstatent in final statnert5 themtves. If, based on the work we have perfomed, we cOrKjIe tFHt tre Is a matrthal mlsstatement of ttys other Inf0rntio we are WUlr to rwt that fact We have to rwt in 1Ms re9. Matters on whlch we are rnulred to rewt by excey We have T¥Jthing to In respett of the fthY]ThJ matters where the ¢J)arftles (Acoyrt arKI Reports) Regulations 2008 requlres us to rew)rt to ff, In our (Wnh)n: the Infombatlon glven In of its TnLe5 ts I45tert in aiy rnaterlal reyct wlth the fIla1 statenEnts; or . sufficient ?oUn records hahE kerk: or the finandal statet5 a Tr)t In agreem&tt wSth cOlng rrdS retum5; or we have not receved all InfomNali)n exsknnations we ry11 for our alt. Page 11
Report of the Independent AudllDrs to th•Trusteas of Wale5by Forest As EAplalned mcre fulfy in the Statwnert of TnJeg ReSF"b1kn.e5, ts I5(eS are re5fftble for the eparalJ)n of the finarKial Statern vknlth gfve a trLE aTh] falr Mffiv, for iTtsnal contrcl as the tStee5 detine15 necessary to enable the of finaTrJal statern that are free fr(Mn mablal preparfr4J the tlnaJNJal statemerts the trLLes are rble for asses4ng the atlIty to o)ntlnue as a gotng ncern, dlxloslrNJ, 35 arvtlLzble, matt¥s lat tL) goitvJ ccn aTha usfng golThJ conrn ba5[5 of acccxjnung unless the tnjstees Intthl to liquJaiE the clkirlty or to wse operaU( or have rL> reali*Èc altsrnatfve Ixt to th so.
Report of the Indedert Audltyxs to the Tru4teu ol Walosby Forert Our responsibilities forth• audlt(rf the Ilnan(ial Stateffts We have been appointd a5 alOrS der Seclk)n 144 of the P£t 2011 and ryrt In acthrdae <)Jr objects are to obtakn reason&)te al the flnatthl statements as a whole are fr from materfal mWm Wheth due to ftaLxI or to a Repcrt of the Inde[t Audltors that Endl5 our onion. Reasonatde a59JRrKe 05 a IN of assan, but 15 not a guarartee that an aud IndLted tn KcorrJaKe ISIS (iK) alw detett a materlal MISState wFn It ex15ts. MtSstatnts can aTtse from frd or etT(Y cnnsideI materfal If, I1vIduallY or In tt aggregate, they could re¢U)nably be to the ecomnlc dedsion5 Lrf users takn on the s of tlw fina[1 The exttt to ¥thlth wr pyr capaLle of detecllNJ fraud ts d&aed below: In IntIrTr3 and assesslrKJ of matqlal ThIS5t In trr8JLlarfYes, IlUdIr fraLKI aThJ no1coMplI7Ce laws anrl regulatiors, Y•E aysidered tt following.. . Tr nature of the Indlty arKJ s&tor, c(thl eroNnert a1 iRnets pthMWn Ind1rj tsryets fvr IrKome and suS. of frregJlaMUes; . Any matters we IdentifieL1 havltvj olxalned re&9 the t<S dorJJmertstJon (rf thelr m)le$ and pr¢jure$ relaUrKJ to: . Idenufylngi eValUaU afxl c(Thpknng wth laws er wffe aware of 8ry InsianTrs of n-COMpl1an, InclufirMJ arry to ttp D Ftotectl¢)n RegatIOnS or bery A(t 2010. . DetecdThJ reswndiw to the rlsks of fr1 V4thr ttry of aTV &bJal, $(ts or alleged fraLKJ' - The intemal controls to mltygate r15ks (rf frdLxI or rKTr(larTr vth laws and r&Jdailons; - Tr matter5 dlxussed am(ry the alt eagernent team at¥1 hdLAJlng relevant intemal lax speciallsts regardlrKJ how and where fraLkl in the firoFvJal stateMts and any potential irKii(3tors of fraud. s a result of these prtKedwe5, we oywdered the opt#YtLmlties and Incenbs that may oNlst wlthln the cfjmpary for fraud tdentified the gre3test EKJt8th1 fv tra1 In trE alIty of managem to manipulate revenue rEcoJnTLioN In CoMnn wlth an audi15 Utts IS4s (UK), we are a150 rts]red to specific procedure5 to reskK)ThJ to ts rl&k c( owth. We also obtslned an UnderStsnd of theIal a1 ruJAatory frdNRw(ks that C(panY Ca In, lo$1 on prnmon5 of those lav+5 a1 regUlatior had è dIrt effeLt on Its tem]InatiOn of material amounts arKI dlsclosures in the financlal $tet& The key laws arKI we 03nsldered In thls rDntext the Charltle5 SORP aThl FhwrKlal RepxtiFKJ &arKkrd 102. In addltion, we codPJed n5 of other laws a1 regLdat1o that do not have a dlrect effect the flnandal statemerts b cnMpike vAth whlch may be thrlarr to the char1Vs atAlity to operate or to avold 8 matsrfal perk4ty. These Indude Tr fA*ral Dats ProtOn ReguOn5, the Bribery Act 2010 and Health an(i Safety pc4ae& Audlt Response to Rtsks Identified OLr procedures to WCAKI to klentifi&l attye Indude I folbwiThJ:
Report of the IrKlependent Audltors to the Trustees of
Walesby Forest
Revlewirmj the finandal statements disck)5ures a1 testitVJ to supwrting dumetiOn to assess
compliare wtth prowsb)rns of rdwdrt laNv5 r83ulatic4)s descri as having a dirert eff&t on the
finandal statemerrts:
- Enqulring of managemwrt and dIrett0 concuning attual arnl pjtenlial litvJatKM a1 daims;
- Perfomiing analyifcal rKc£edU to tdentify any unusual or relationships that may IndiGe risks
of material m1sstatsnt due to fraud:
- Readlng minute5 to meetlngs of tIKlSe chary8J with goverN9n revlewing rekvant oYresnden
from reJulatory bodles.
- In addressing the fraud rfsk in revenue reccrfJnltk)n Y have testal a sample of income recorded in the year
through agreement to the relevant sales tern aNJ clItIOnS and bank statements. Additionallyi at an
analytical review level, we develo1 an expertation of the i(ne with referee to our experien of the
client and discussions on the rJnItIon arKf voktilty of iOnE in year . and
in addressing the risk of ft7ud thrfAJgh management ovrie of contro&, te5tiThJ the approprlateness of
Joumal entrie5 and other adjusthRnts' assessINJ wlwther the jUdgnts made in maklng accounting
estimates are indicatNe of a potentlal bj'as. arKI evaluating the buslnes5 rarIal of any signiffcant
transactions that are unusual or outshje the rKYmal course of bu51r.
We also communlcated relevant Klentified laws and regufatiws and wtential fraud ri5k5 to all engagement
team membets and remain alert to any indicatlons of fraud non-comp1[an with kiws and rjulationS
throughout the audit.
Because of the Inherent limitations of an a11 there is a risk that wfll Trjt Iktect all irregularitie5,
induding those leading to a Matla1 misststanent in the fiThandal statements or non<ompllance wh
regulatlon. This risk increases the MO that cOmpln vth a law or regulation is MOved from the events
and transactlolls refiected in the financial Staternts. as we will be Iw like to bec£rfne aware of instan
of n0n
ststanrt of Financlal Acll¥lU the Year Ended 31 December 2024 2024 2023 Trtal funds XNCOME AND ENDOWMENTS FROM Donatlon5 and kgades 10,544 16,144 1I03 Charitsble actlvl Mlxed aimplng Camp Fees and P£tM 119,rn1 764,594 2Y3,099 178,697 812 119,780 764,594 253,099 178fi97 812 145?52 ,720 147,576 222,216 Anclllary sc£s Charltable acuvltles OA5 Other trBdlw actimtles Investment SnccAne Other Income i73 1.518 14.638 108J73 1518 I438 252,195 9,TL7 3,233 L452,055 1,457fi55 1,562,822 EXPENDrruRE ON RalslrMJ funds 963 963 123,563 Charitabk a¢Uvltlos ChaTltsble )thfttes 0] 1,401393 9220 1,415,613 1,597 2,463 Tatal 1.505,449 9,220 1514,669 1,487,160 NEf INCOMEI(EXPENDrruRE) {53,3g4) (3,620) (57,014) 75,662 RECONCILIATiofi OF FUNDS Total fund5 Lyought frwanl 878,979 67,768 946,747 871,5 TOTAL FUNDS CARRIED FORWARD 64,148 889,733 946,747 Page 15
Wal* Forest Bjlance Sheet 31 Decunber 2024 2024 2023 Tthl Tangible assets 1227AQ3 58547 1286,150 stocks 17 17,749 84,453 95,975 17,749 84,453 101,575 13,748 436,516 251fi61 Cash at ba£ a1 In haThl 5.&JO 203,777 701,925 CREDrroRS Amourts falllng wthin one 7r 19 (327,41n (327,416) (347,404) NEf CURREKfASSEtS (129240) s.1 (123,639) 35421 UABIimES I.,363 64.148 1,162.Sll 1,237,185 CREDITORS Amwnts fallkng due after tlkin (2Urn} (272,778) (2SYJ,438) 64,148 889,733 946,747 FUNDS UTYesblcted funts 23 825,585 64,148 878,979 67,768 TOTAL FUNDS 889,733 946,747 flnandal statents we appn)vd BO of TnJstees ault¥Jrlsed for is5 on 16
filr the Year Ended 31 December 2024 2024 2023 405,124 (224,855) Net (ash prwld&l tyl(wl In) orwatlThJ 405,124 (224,855) Cash flows from Inv¢8dng acUvHI8s Purthase of faWble fLxd assets InteTest rehd (518,945) 1,518 (167,930) 9,T27 Net c35h In Insr0 aLtMtles (517.427) (158,203) Cash flow$ from flnandng a¢tivltleB Bank Interest pa on loans Loan repayments In year Capttal repayments In year (21.349) (15,323) (I,iii) (17,069) (9,598) (1,112) Net In flnarKlw *tvitles (37,783) (27,779) Change In osh and cash equlvalents In th¢ reportkng p"Od Cash and cash equivalents atthe beglnnlng of thé rnportlng (150,086) (410,837) 251,661 Cash and (ash equlvalonts atthe ond of the reportkno wlod 101,575 251,ffi1 The notes fonn part of tP finarKlal Page 17
Notsx to the C•sh Flow Statomffit forthe Ywr Ended 31 De¢•nbw 2024 RECONCIUATION OF NEf (EXPENDrnIRE)IIIICOME TO NEf FLOW FROM OPERATING AcfivITIES 2024 2023 Net (expendliwe)Ilncome for the rep p•lod (as p the Ststement ol F1Thda1 Acllyltles) (,014) 75,662 Depreoatlon Loss on of red assets irterest recdved Irterest pakl {In(seYda$e In stodG Deueasel(increase) In debt(s Decrease In credknrs 114,126 I33 (118} 21 (4,IXII) 352,063 121,214) 85,525 (9,n7) 17,069 849 (350,492) (43,741) Net provkled byl(uqad kn) opwths 405,124 (224,85¥ ANALYSIS OF CHANGES IN NEf Dwr At 1.1.24 Cash I7 At 31.12.24 Not cash Cash at bank arKI kn hand ,661 (150,M) lo175 251,E61 (150,{6) lo175 nance l&%e5 Debts failing due wtthln l ye Debts f41irrfJ due after l year (97,129) {15,586) (IY,420) I,iii (1,227) 16,549 (96,018) (16,813) 1177,8711 (307,135) 16,433 (29),702) [55,474) (133,653) {189,127) Pap 18
Notss to the Flnanclal statont5 forthe Year Ended 31 Decembw 2024 ACCOUPMNG POUCIES Tre financkl ststements of the charity, whlth Ls a wbllc under FPS 102. have b prepared In accordm Cha1ties 9)RP (FRS 102) 'A£(olI1VJ Reporljng by Cttarlttes: ststemt of RecoMnd FTrtt1 appficable tr) dr.th5 mittiThJ thelr accumts In ac(rda£ wlth the Ananclal ReFrfJrtlrwJ StaKlard aptlicabte kn the UK aTrJ Reputit of Ireland (FRS 102) (effecuve l January 2019),, Fnandal Reng 5tsrnlard 102 Tr Fknèral Rep(MYng Stsndard appllcable in the UK ReputdÈc of IretarAI' the (harities Att 2011. The finandal statements have been prepared uTrltrthe Nstorlcal cost Waksby Forest Is a reglsttted ElarKI. The athlre55 1 reglstered Offi Is In the tharity Infonnauon on page 8 of trEse firkiTrJal statewls Tr rkith of the charty's 07On$ and prfnclpal Is that of an advty rtre. The dwrlty constitutes a publlc t¥fit as ty FRS 102. The fEnandJ 51atements have been In accorrkrKe wlth Acctyjntiig aTrJ RewrtirKJ by Char]Ues: Statement of Recommende(I Pradke aFvlIcIe to thiritie5 tryarfng thelr ac£ounts In X0rdarfft vlth the nancFal Reportirvj Saar(s apwllcable In the UK Rewtdlc of Irdand t55u&I In OLtober 2019, tF Fits9la1 ReportirKJ ard appllcable In the UnW KlnJlom aThl Republic ¢A IrdarKI (FRS 102), Chartttes Act 2011 UK Gerydlly PaJ Pr&il The finarthl stBtthsts are wepared a lThj (y)rw3n Èods the htstorfol o)5t conventk>rb, mo(lfied to Indude certain Ite at falr val. siatthnts we in sterllng whlth Is the funcuonal oJwerLy (l the d)arlty arwj rrAJrthJ to nearest L The slgnfi(2nt accoLrtlng pcAlaes applled In ppaan of finandal ststanth5 are s& o below. These psldes have been on¥stattly apylid to all years wes1 UeSS othee stat8J. Funds Unre5trictsJ fuNts a a4rdHatk tr use at trt of the truStS In furtFRrantr of ts general obfrdves ofthe thatlty vthth Ixve dlta Deslgnatsd furKts comprlse fijrmls tt¥3t haNe be s& a&4Je trust tr partKular purpose Restdtted fijnds are fiNKis are to te in sfvfic restrlcUc4)s imposed by dorx)rs or whith have bew rdlsed by tt drty for partkr The o)5t of rdlslng aTh adnlnlSng suth furts ae agaAst wfic fund. Income All Incoming resour indje in tre St of Flwtsl ActNities when the tharlty ts legalty entitled to the inc(Yne ats ary pthrnwn coTrthbors beem amcyjrt can measurfAI reliabty and It Is pr(thble that the Incorre vill 11. Inccffne from charliaLle acuvltfes 1ndl5 iMe earned carnp camp caterlngi waWeaves recelved and t*Pne lIveS FYoM&d. ItKtthe is In excharvJe for ITKome from trddlng adfvitie5 IndleS Income &im&l frwi lde sales to rdlse for the chaiity. Ion Is recdved In exdw gcKrf15 ¥j Is r£rwlsed when entitternent has occurred. Investment income cunprtses tMJikllrwJ ]ety arnl ba Intere5L Inwme s rw[S WF the interest has beg) eanEd. 19 cUnLEd...
Wale6by Forest for the Yoar End¢d 31 De¢wnbw 2024 Accouf4TING POUCIES. All expeTrlth Is aco)urted f(r an aC(n[S bats has beth dassllled headlngs thèt Jate all costs rektyd to the category. is rwLs8J where there a 1gJal or consbuthe lIgatIon to pan to trdrd partle5, It Is probatle that 5etttematt 11 be requlred and the amwrt of ttE obllgthn can Meaed relkLty. It b otejryised urKkr the followlng IkadlrKJs: . Costs fA raising jFKI si(Kk IxjrdH ftr aThl ots costs of njntho the provthre; . EXpttl cffl dwrltabte acty¥lties atxl rnthnan of the te ar (zmp aciivities, tr7n5pth0n and caterfrKJ wrttose& Suppot costs those that a5 the WLvk of the (hartty txrt th Th7t dIr represent charltsLle acljwiks and IrKJude offio cwts. g0veYnaa costs pwll CLs. They are IncunEd dkectFy In SUPP(rt of expenditu the d)Mts of trE dwlty. Wha? gjpwt costs onnot be dlrecdy attrIted to partiadar headIn they have alkotal to the cfist of ralslrvJ fuThls and expamllttre on tharftsble acbvlti& cn a basls wlEh use of Ips0 Iet(MeratIe VAT Ls chargejj as an e)4)m agalrst the ¥•tkh &wlture ar(Lse. Thngible fixed assets Depre(lathJn Is pro at the rdtes In der tD Wftte ¢)ff eath ast over tts e511n Lsefvl I ethdd p¥opwty g leasehold Ilant and mad)irey Fthires aFMI fltbt Motorvehkle5 - 5% - 20% o)st stra Ilre w 93 rS . 33% on cnst 10%- 33% on cr 25% M cost Tale ffxed assets are initklly meaaJrèJ at cost aThJ measfftd at a)st or valUatJ, of dewe(latton and any Impairment losse5. The or loss arfsErKJ on the dIstl of ass& Is detIn as dIfferen between the sale pr(x£eds the tyng the as4 is tharged to 5Xt or los At each reFthrKJ pej1( WKJ thaty the aww)unts of tar¥JIb assets to determlne whettEr there Is any IrK1fCat that lJTh assets have SLffered an Impalmwit loss. If any th Indlcaljon &sts, the reL0ver31e amwnt of asset Is ealmated In order iv det&mlne the extent of the Impalmient l¢)ss (If any). it is t kK6slbte tJ) thate the recoverdble amunt of an kndlvldual asse¢ the company esljmates the raj1le aMot rf the to whlch trt ast bdongs R0Verable anJrt Is the hlgher of falr cost5 to sdl In u. In aSSr0 value in LL%e, the e5tJmated futwe cash Ilows we to I1r prewt value Lslrwj a pr&tsx dlscount rdte that rdlett5 current market asse5rnts (rf me value of arKI rts spC to the asset frn whlth the estlmats rf fijth ITrMs haNE adj. If tFE rKoverable aThrt of an awt Irff urmt) is eimabJ to be less than Its carylNJ amount, the cany1rs amount (l ts asset (or ca5&nting unlt) Is rale to Its rable amounL An ImpalMi loss 6 rniSed Imm&JLatdy In profit or h)ss, unles5 reknnt asset Is nIed at a anwiL In vth (35e Impalrmgrt loss Is treated as a revaluatbon de¢Jeas c(tInUed...
for th• Yeor Ended 31 D¢cankn 2024
AccouKfING POUCIES. contlnwd
stoths are valud at tr low and n& realtsaLqe aftw maldng due allowan for
obsolde aThd skx¥ movir(
Taxatlon
IrrecoveraLle Val tsx ts to tr otegjy of to wNch tt rdatrs.
As a reglstered tharlty, Wal Forest ts erljtlgj to certaln tAwnl0 from corpordtion tsx on
proffts fmm 1wtrnts arKI trading ackn carrEd In fvrthn of the choriV5 prfmary
obRdlves. WhwE relt exempuons Je t avallable tradlng a¢e5 orrled M outside
the charitV5 prtmary obJ8ts doe5 inar cOrrAyatt tax. Cctsts are recorded of
VAT as the charity Is able to redalm a of VAT pald, of its tradlng adfvttIes, usln9
rtIa[ e¥ernpti melhd.
Trade and debtU are recognlsed Inlllaliy at traartIon Prf less attrlbutsle transactlon costs.
Trade and obr CTedtb)ts are rwjr11 Inttlally at transacvon plus attributab transactlon
c
Walesby For¢•t Notss to the Hnandal Statements. contlnued forthe Year Ended 31 Decern 2024 CRrrIcAL AccoupifJNG JUDGEHElf(S AIW KEY SOURCES OF EsfIi4ATION UNCEirrATpirY - Conllnued ¢ty has de of Ilxal assets In Fts fThndal Slatane requlre managernert b) rrtake Jltyts coTh Ufe of and residual ValS. The judgnents are basal a wnbltwtlon of &uip wlldes. l)Lstori(al eJwiaKE and othw reaSone factor& DONATIONS AND LEGACIES 2024 2023 DOrts0 arKI legades Glft ald 14,790 1,803 16,144 I,3 OThER TRADING ACTivrriES 2Q24 2023 SkEdal e¥ents 108,373 2Y2,195 XNVEsfMEKr INcop 2024 2023 1,518 9,727 INCOME FROM QIAiifTABLE AcrivrrI 2024 2023 Mlxed campthg CanWrwJ Camp fees and aceS Camp Fees aThJ I4JJ Catsrfng CaterfThJ utllitles Analiary tllary Walesby shop dliary seceS Camp fees and trAtIeS ikntsble JJvfiUes cv5ts Iittes 119,780 76494 253,099 19,828 74,368 84,501 312 145,3Y2 780,720 147,576 22,987 84,831 114,398 1,316,982 1,295,864 o)nttnued...
Walesby Forest for the Year Ended 31 2024 OTHHi IfKoME 2024 2023 Othw In0e- InsurdrKe dam 3,263 11.375 3,233 14,638 3,233 Dur1 year, grants of £IIR75 were recewj fnTh Faming Reco¥ery Furxl as SUPPrt for land affecteAI by fIdhig wet w. are rn unftlfillgj cmsOn5 or o x)tlnpMks attach&1 to thls grar RAISING FUNDS Oth¢rtrndlng acuvltles 2024 2023 Retsll and bar o)sts Stsff costs nJ4 24249 93,912 ,651 96,593 123,563 CHARITABLE ACTIVMES COSTS Dlrect Costs (w c(6ts (see te io) rnte 11) Totals ¢JwrftstrAe actmtles co*s 593,811 821,802 1,415,613 10. DIRECT cosrs OF CIIARITABLE ACTivrriES 2024 2023 Elthltyl gas & Y4ater Surs 136,978 20,396 62,285 9516 8420 13220 30204 89,264 86,123 25,111 (1,236) 9,003 74,968 11,859 357 86,082 140,028 85,525 Rent satratIOn Sts transpOrtau * tlart Acuvltles & wrts equlpm Caten'ng cctst of sales Event athues Delatknn 114,085 593,811 553,3Y) dge 23 contknued...
for the Y•r End 31 D•cwnts•r 2024 11. SUPPORT cosrs Totsls expende ClwttslAe aists 769 1463 2,463 821W2 I638 3320 I638 1463 33,320 824,265 SuFWt co#s, Irxjuded kn the at, are as foll(A¥s: 2024 2ff23 actitIeS Trtal ie5 athfles Wag6s Inran Tdeph)ne Adverj 68215 32,603 339 20.132 682,013 32,63 33,81Th) 20,132 672,410 27,501 28,334 26,772 9,971 Loss on sale of lble tlxa assets FlnaKe costs Tax on non-Ptn¥y trale AccountarKy Audit Legal and profeSsIal 1,087 IS38 1,087 I838 28,150 2,153 18,523 12,644 2,153 18,523 3,342 9,669 463 821P)2 824265 810,247 TMisfEES REMUNERATION AND BENEFITS Th¥e were no truste rratth or ottr a)tkd 31 Decemiv 2024 for the year ended 3] Decanbw 2023. 31 December 2023. 13. sfAFF C(MS 2024 2023 Wages salarte5 gjckl securfty costs Penslon ccsts 633,080 44,250 644,029 34,791 The averdge rnontNy number of thrfrvj ¥K5 as fokvts: 2024 2023 Charltsble actmljes raIng Page 24 continLd...
Walesby Forest ft)r the Year Ended 31 Dec¢mbw 2024 1% srAFF COSTS. conllnw#l 40 avuage lcOUnt cl (knirwj tt was as follows: 2024 21 2023 16 24 Fu1141me ernploy Part.ttn ernoYeeS The full-tlme eqlivaknt (FfE) nmilxrof star d$ as ft41. 2024 32 2023 30 Full.Ume WAWa 0yeeS There was l (2023: 1) staff Tr nThxe than £6),0(Xl ln Ood, with OIUments falllTr3 bets¥een £60,0- £70,0 per {2023: tW £70,IxIO. £80,0 per annuml 14 TAXATION Analysls of the tax <arye The trx charge on profit for the prwas as follows: 2024 2023 Current tsx: UK c(yFrf)raM tsx Re¢ondllatlon oltotsl tsx chorye Induded in fkHncial actlvtd The tsx assessed for the year tIN4n ts &JKlard rate of c(Ywrath)n tax In tIE UK. The dIfferen Is lned bel. 2024 2023 Profit tradirvj actfvitks the drS Ixriv) Proflt multiFAled by the staKlard rate of crKp(*3tIC UK of 19% Effects of: Expense5 not d¢thIe tax Ixrpxtses 1,959 total tsx tharge contlnLEd...
Walesby Forut for the Year Ended 31 Dents 2024 15. COMPARATIVES FOR ThE STATEMENT OF FIMANCtAL ACTlllll untriC Restsl(led Totsl Is funds fwvjs INCOME AND ENDOWMErS FROM Donaljons and legades IB)3 Charftsble acuvlileg Mlxed Camptng Camp Fee5 arnl N£tMtles 145,352 780,720 147,536 222,216 145,352 780,720 147,576 222,216 Ilary sCes 252,195 9,T27 3,233 252,195 9,727 3,233 Irwestrnent Inci*Yt 1.562.822 1.562,822 fAPENDrruRE ON Ra5slng fiJnds 123 (i) 123,563 charttse aCtle$ $ts I54,319 1,363,597 1,477,783 1,487,ItiJ NEf INCOMEI(EXPENDrnIRE) 85.039 19,37n 75,662 RECONCtLIATION OF FUNDS Totsl finls forward 77,145 871,085 TOTAL FUNDS CARIUED FORWARD 878,979 67,768 946,747 contlnued...
Forert for the Year Ended 31 DKember 2024 I& TANGIBLE FIXED ASSETS Frthofd Long asehokf Hant and machlnery cosr At l January 2024 dStlms Dlsposals I,1,494 484,861 (2,478) IjK 67,Tr5 {7,828) At 31 Dttemtw 2024 1,642,877 iio,orAI 59,917 DEPRECIATION At l January 2024 Charye for year Elimlnated on dIsp1 470,659 82,659 (2,478) I211 I,iii 501 (7,828) At 31 December 2¢y24 13,982 59,655 NEf BOOK VALUE At 31 Decenr 2024 1,092,037 96,0 292 At 31 Dectser 2023 97,129 hldes Totals cosr At l Janry 2024 Acklittons rAysaLs 343,237 34J)84 (100,615) 7,445 4688,951 518,945 (110,981) At 31 Dec)b 2024 276,646 7,445 2,0%,915 DEPRECIATION At l January 2024 Iybarge for year Eliminated on d15t¥Jsal 252,101 28,484 (99,342) 3,674 1271 ,287 114,126 (109,648) At 31 Decemb¥ 2024 181,243 5,045 810,765 NEf BOOK VALUE At 31 Decemter 2024 95,403 2,4IYJ 1,286,150 At 31 Dmber 2023 91,136 3,771 882,664 Induded In tIE ath)ve are ld mder firhyKe leases Nre wrthses uJrtrs. Leasehotd prorty iKluYes depreciation of £1,111 (2023 - £1,111) b) value of £96,018 (2023 £97,129). 27 (ontlnued...
fr•r the Yaryr Ended 31 December 2024 17. sfocKS 2024 2023 17,749 13,748 I& DEsro. AMIXIKfs FALUNG DUE wmixN ONE YEAR 2024 2023 Trade kbtors VAT 711 872 19,467 416,177 83,742 84.453 436,516 19. CREDMMS: Amouiifs FALUNG DUE wmizN ONE YEAR 2024 2023 Bank loans aNI overdraft5 (see mte 21) Hlre purtha ( rKe 22) Traée ¢Jeditor5 Taxa arKI 5ty ottw lItOrS 16,813 I,iii 42,747 13,366 S,379 15.586 I,iii 51,593 9,142 269,972 327,416 347,È104 The flnarKe lease In sectyal the asts tD It rdates. Tre bark hjan Is ulAl over the aets OfU tharty. Induded ac(nA are [s1On5 totallry thl (2Q23 - th1) that have artsen due to a constructNe ot4igalJon to nInts1n the starnlard of tnduded In ots cr8Jkn Is rf £195,406 (2023 . £239,718) wllth reSatLs to éew)stts rec* for caryjs to be hekl li futLre ye CREDrroRS'. AP40UNTS FALUNG DUE AFfER THAN ONE YEAR 2024 2023 Bank loans (see note 21) HirE wrdk75e (see note 22) 177,871 94.9)7 194,420 96,018 272,778 290,438 COljed...
Wplegby Fora5t Notas to the Flnandal Siat¢mwts. c•nt for the Year Ended 31 Decmbw Z024 LOAIIS An analws of the rnattty ( b gim bth: 2024 2023 AM0 fallirvJ d one dana1. Bank bans 16,813 15,586 AMots falllrg Ltween one a1 yW5: Bank k)aTrs- 1-2 years 17,952 16,600 Amounts falllng (kn betsyw two aThJ $." Bank h)ans- 2-5 year5 60,926 Arnoutts falllng dLP kn more than fve ys: Repayable by instslments: Bank b)ans m(Ye 5 yr by Irtsl Hlre wrthase contracts I21,[3 91,574 189,456 212,637 21 LEASING AGREEMErirs Minimum le paWnts fal th a5 folkms: Hire [Kwtte cortracts 2024 2023 Net obligatiors repayatde: Withln Or year Between one and fve years In more than r5 I,iii I,iiJ 90,463 96,018 97,129 Pknn<ancdlai atlw leases 2023 2024 Within one year Between a1 flve years In more ihan fve years 4,5C 18,000 366,750 18,C 371250 389,250 393,750 PasE 29 contlnued...
forthe Year Ended 31 De¢wnbw 2024 MOVEMEKf IN Furws At 1.1.24 In fvnds 31.1124 General fund Deslgnated . Lake Rep* Fw 843,979 35,(rtXI (53394) 790,585 878,979 (s394} 825,585 Kemp L( Tree WanUrKJ Management Van Caterlng Bam almng Wall 2018 Lodge Tollet Blc( Robln Hood lte Roof All Terraln &ke 28,274 895 (6.670) 21,604 2,838 5,249 14,400 3,354 5,749 15200 (51KI) (8¢XI) (250) (500) (S) 4mO 3,5)0 5,flJO 67,768 13.620) fA,148 TOTAL AINDS 946,747 (57,014) 889,733 Movem In fund4 IrKI In as fkn. In(j Resotxtss Movnt reS0CeS eynd In Unr¢strfcted funds General 1,452,055 (I,X)5,449) (YJ,394) Kemp Lodge Barn Climling Wall 2018 Lodge Tollet Block Robln Hrjjd SLite Roof All Terrain (6,670) (5C(J) (800) (250) (500) (500) (6.670) (500) (800) (250) (500) (500) (9220) (3,620) TOTAL FLV4DS 1,457,655 (1,514,669) (57,014)
Waksby Forn Notes to the Flnonclal temeffjts. cont for the Year Elld 31 December 2024 MOVEMENT IN FUNDS- contlnwl Net Transfers At Ll.23 In ft#Y15 fuNIs 3L12.23 General fuMI DeslgnateJJ- Hedge Fur Dgnats . Sherwo¢Jl Lodge gnat8J. Lake Walr Rxxl 767,826 L217 24W7 85m9 (8,886) (1,217) (24,897) 35,000 843,979 3500 85,039 78,979 Restricted fwHI$ Kemp Lojge Tree planj Management Van Catering Bam c1lmtng Wall 2018 Lodge Tollet Bknck Rthln H(xl Sjlte R)r (6,670) (105) (52) (500) (8CrfJ) (250) (S) (5(Xl) 28274 895 2,838 5,749 15,200 3,604 7,208 4.000 6,249 16,C 77,145 (9,3TI) 67,768 TOTAL FUNDS 871,(5 75,662 946,747 C(Mnparatlve r£t movmrt in f¥j5. In tre atrmwe are as fdlovo: e¥pend In furmts Unrestn"Lted fvnds Ge)wa fund i.22 (1,477,783) 85.039 ReAtrldd funds Kanp Lcrtlge Tree Hantlng Managemert Van Catering Barn Cllmblng Wall 2018 Lodge Tollet Blod( RoLNn Hwd lte Rcd {6,670) (105) (Y2) (} (81J)) (250} (5W) (500) (6,670) (105) (52) (500} (800) {250) {500) {500) (9,37n (9rn TOTAL FUNDS 156202 (1,487,160) Page 31 convnwj...
tho Year Ended 31 D¢wbar 2024 A currentyear 12 morths and fv yr 12 mLYth Is f(410. TrdfLSS At 1.1.23 In fints nds 31.12.24 Gra1 fuTrJ Deslgnated. Hee Fun Deslgnate(l- sherwj Lce Deslgnated- Lake Rq)alr Furnl 767,826 1217 24,897 31,645 (8,886) (1,217) {24,897) 35,LKIO 790,585 35,OLKI 31fft5 825,585 Restri£ted funds Kwnp Lodge Tree pfants Managernt Van CatertrwJ Bam aimblng Wall 2018 Lodge Toilet Blo(k Robin Hood Sulie Ro( l Terrain Bike (13340) (105) (¥2) {1)) (1)) (s) (1,() (i.OLYJ) 21,604 2,838 5,249 14,400 3,354 6,249 16£ 354 7,708 77,145 (12,997) 64,148 TOTAL FUNDS 871,085 18,648 889,733 A currert year 12 aNI fv yew 12 monts cnnned net nNMment In fvls, Inth(kd In alx)ve a as fdkrtNS: I1rj RUr Movement In fiJTrJs General fijnd 3,01477 P,983232) 31,645 Restr1( funds Kemp Lixlge Tree HantlThJ Management Van CatrxSng Bam aimblng Wan 2018 Lodge Tdlet Block Robin Fh)rxl gjte Rf All Terrakn Blke (40) (105) (52) (1,000) (1,600) (500) (I,coo) (I,ooo) (13,340) (105) (52) (1,000) (1,600) (S) (I,ocM)) (I,cK]o) (12,997) TOTAL FUNDS 320,471 (3,0019) 18,648
Wa]esby Forest forthe Year Ended 31 December 2024 EMPLOYEE BENEFrr OBLIGATIONS separately from tFb)se of the in tK1epefMJath admirtstered fu1. The pens( C05t ¢Jwge reprents contrfbuljors par4Lle try the tharity iD tr fijmt amt amclted to £17,513 (2023 £17,241). CMtrEbutkKts totdlir¥J £3.144 {2023 - £5,CQ4) were payaLle to ttE f1 at the batance sht data RELATED PARTY L>ISaOSURES IhThnas Bow Umlted Is a rdated party a5 A Bow, a Thstee, Is a dlrthr of that compary, Durkng year end&1 31 December 2024 the aThl gocds amoLrtlng to £8,154 (2023 - £829) from WalegSy To$t, and maknals amoundng to £83,230 (2023 - £lm7) to Walesby ForesL At 31 DeCbff 2024 aEd[S Ind an aMot Of £nl (2023 - £517). Nottlngham Cqjrdon Trknwtlal Trt For Buys Ar#1 Glrts 15 a related pty as Dd Huxley and Jean Ra5nsden, Trustee5. e a19) Trust of that dwty. Drj the year eIj 31 Deber 2024 tt chartty donated amnts totslllro £2.{ (2023 . £5.1)Xl} iD Waksby F(esL aty of NotUnM Sc(Kft tX51Jict Is a rdatsl party as Dad Hlrey, a TnL8tee, Is a Trustee of ttmt chadty. LlJr1ng the er)d& 31 Drnb 2024 £IIA95 (2023 - £16,2&)) of wages rewng to Nasts Beaton were PresSed on W• Forest p3yrdl retharoed to the fharfty. ILTIMATE CONTROLUNG PARTY The Centre Is CCT*mllal by the Tn&es 27. KEY MANAGEMEp¥f PERSONNEL Total for key ma• wa5 £165JM4 (2023 . £135,461). Page 33
Wal Forert for the Yr Ended 31 Doc•nbw 2024 2024 2023 INCOME AND ENDOWME15 Donatlons and loy¥lqs DoTh3tr(ns arxj legades Glfc ad 14,74J L354 1,803 16,144 1,803 Wal events 108? 73 252,195 9,727 Camp fees and aLllthe5 Caterlrg Mlxed caMng LIUIMes 764,9)6 253,099 119,78Q 20,328 74,368 84,501 7$,720 147,576 145,352 22,987 84,831 114?98 Walesty 1,316,982 1,295064 otr Inc¥¥me Other Income - Irtsan dalm 3,263 11,375 3233 14,638 3,233 Totsl Incomlng 1,457,655 1,562,822 EXPENDrnIRE Other tradlng actfvitie5 Ril expenses Bar & cost of Wages 1,856 70,488 24,249 6,327 93,565 23,651 96,593 123,563 Charitable actirfrties Eethdty, gas & water Sundrfes site MaIntenan and developmert Rent Sanitstion Carried for 136,978 20,3 62,285 9,516 84,020 313,195 86,123 25,111 (1,236) 9,003 74,968 193,969 This we does form of the stabJi4y flrh2rthl statan
Wsty Forest for the Year Ended 31 December 2024 2024 2023 Charltable actlvltl• Brought forward te trdnsportation a1 plart ActNtUes & sports 8]uiwnent Caterfng cost of sles Event athilies Depredauon of tsrKJl)le ftsl ass 313,195 13,220 30,204 89,264 333 114A)B5 193,969 11,859 35,887 B6,082 140,028 85,525 S9311 553,350 Support costs Managernart Wages Insjran Tdephone AdvertJi Sundrles L055 on sale of tangltrAe fixal assets 682,0 3W3 6rd,410 27,501 28,334 26,772 9,971 20,132 769fi44 Flnant• FInw1 costs 38 28,19) Taxation Tax on norpwmary ptJpose trade Accountsncy Audlt Legal and fvlo 2,153 18,F23 12,64 3,342 9,669 4,098 33,320 17,109 Total res0W e¥pended I14,f9 1,487,160 Net (eXpendIre)lInCrrfThe (57,014) 75,662 PJJe 35