REGISTERED COMPANY NUMBER: 08150065 (England and Wales) REGISTERED CHARITY NUMBER: 1149688 Report of the Trustees and Flnanclal Statements for the Year Ended 31 March 2024 for Kingswood Trust (A Company Limlted by Guarantee) Haines Watts Wolverhampton Limited Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA
Klngswood Trust Contents of the Financlal Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examinerfs Report Statsmont of Flnanclal Activlties 10 Balance Sheet 11 to 12 Notes to the Flnancial Statements 13 to 19
Kingswood Trust (Reglstered number: 08150065) Report of the Truste6S for the Year Endod 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (effective 1 January 2015). Page 1
Kingswood Trust (Registered number: 08150065) Report of tho Trusteos for the Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Our Purposes and Aims We believe that.. every young person should experience the world beyond the classroom as an essential part of learning and personal development whatever their age, abilty of circumstances. Our Mission at the Kingswood Trust is to provide high quality outdoor residential and environmental experiences that will 5UPPOrt improved outcomes for the children, young people and community of Wolverhampton, Staffordshire, Shropshire, Telford, and the wider West Midlands Area. Our project work prioritises the most disadvantaged people in our community supporting not only children but volunteers of all ages and older people. The Kingswood Trust is a residential and environmental Centre 6 miles outside of the City of Wolverhampton offering access to woodland, green spaces, and purpose-built environmentsl resources. The buildings can accommodate over 100 people each day with capacity for 70 people to stay residentially. Outdoor activities at The Kingswood Trust focus on leaming outdoors, Connecting with nature, and appreciating the natural environment. Our work is particularly current in helping to combat the impact of sedentary lrfestyles, obesity, and the increase in poor mental health. Our service meets the curriculum needs of schools and focuses on environmental learning. Children of all ages, their parents, and carers and those who support them can leam together, enjoying the benefits of hands-on activities in the fresh air. From the voluntary sector to corporate organisations, everyone can benefit from learning with nature. There are also plenty of varied opportunities to make a positive contribution to the work of our charitable trust through our extensive volunteer programme. Our outdoor activities enable learning about and through the environment and create lasting, happy memories. Over the last 12 months we have continued to focus on reconnecting people of all ages to the natural environment, especially older people and those suffering from loneliness and isolation and those who face financial hardship. Our charity is a place where history comes alive with old buildings, air-raid shelters, historical features, and artefacts. Outdoor leafning takes pla¢e in our woodland and natural habrtats, pond areas, bird hide, climbing trees, adventLtre ropes, forest school base camps and gardening areas. Opportunities to meet our sheep, ducks and chickens, rabbits, guinea pigs and tortoises are a favourite with all our visitors. Our team building programme offers essential skills activities for personal growth. Subsidised and fully funded projects enable some of the most disadvantaged children, young people, and families to benefit from the many positive impacts that our quality learning opportunities in the great outdoors brings. Our new activities for older people, especially those with dementia and adult5 and children viith Special Educational Needs and Disabilities are having a positive impact on improving health and reducing isolation whilst accessing the benefits of being outdoors. Our Ob'ects - How our activities deliver ublic benefits The trustees have given regard to the Charity Commission's guidance on public benefit. Our activities deliver public benefit through our objects and our activities reflect local need. We adapt these opportunities and experiences to support the needs of people within our local community and work hard to enable everyone to access these and benefit accordingly. Our charitable objects are as follows: Advancement of Educatlon - we promote education in, through and about the environment. We provide tsilored learning outside the classroom opportunities, including day and residential visits for children and families in areas of social and economic deprivation. This includes curri¢ulum enhancement, improving mental and physical health and helping to combat obesity. We engage with parents and family members and the wder community to place learning at the centre of what we do. We provide community skills days and learning opportunities for volunteers. Conservation of the Environment - we promote the development and protection of the environment and improve the biodiversity of our site. We encourage Children, young people, and the wider community to play an active part in the conservation, protection, and improvement of both the physical and natural environments. We focus on improving the knowledge and skills of children, young people, and the community in relation to WFldlife and nature. We aim to improve understanding and awareness of issues arotjnd climate change, now and in the future. Page 2
Kingswood Trust (Registered number: 08150065) Report of the Trustsos for the Year Ended 31 March 2024 Sustsinabl• Development - our a¢tivities are about living today with tomorrow in mind. We promote education for sustainability, yth children, young people and the community participating in developments and activities creating and maintsining the habrtats and environments on our site. We practice a sustainable ethos, educating children, young people and the Community in growing food and local sourcing, reducing, reusing and recycling in relation to resources, energy and waste. Prevention or Relief of Poverty we provide free, fully accessible activities and subsidised charges for seIce users in need. We actively seek funding to deliver projects that help to support the needs of the most disadvantaged Childn, families, and older people. Our outdoor opportunities aim to help improve the life chances for children and young people from socially and economically disadvantaged communities. Through access to our environment, activities. and resources we can make a positive impact on the health and well-being of our user groups young and old. Promotion of Social Inclusion - we deliver a wide range of a¢tivFties that reinforce confidence, raise self- esteem. and offer opportunities for social interaction. We promote the social inclusion of children and their families with poor educational or skills attainment and financial hardship including those who are members of marginalised or minority groups. Vve promote social inclusion for children and young people with special educational needs to ensure equal access to all outdoor, environmental and curriculum opportunities. We provide the environment and context for people within socially and poor areas of Wolverhampton and The West Midlands, Stafft)rdshire and the local communty, to develop the capacity and skills in such a way trtat they are better able to identify, and help meet, their needs and to participate more fully in so¢iety. We actively include volunteers with all abilities and run projects for those with a range of Special Educats-onal Needs and Disabilities and poor mental health. This earfs financial osition This year we have worked hard to maintain a high-quality offer with a backdrop of ever-increasing costs. During this reporting period. our energy costs more than doubled, food supplie5 and laundry costs, transport bills and consumables increased by 35%. Our salary bills also rose signifi¢antly. At the midpoint in the year, the charity manager and trustees undertook a full review, looked at areas to procure more effectively and made some minor savings. They then and completed a stsffing and operations review. Following consultation, it was determined to restructure and to make a Costly post which no longer met the needs of the organisation redundant. In December 2023, we removed a teaching post to reduce costs and enable greater flexibility of staffing hours across the whole year and maximise holiday periods for delivering project activities. This has been a successful development, but redundancy costs in this year paid out in December 23, along with increasing costs has led to a small operating deficit at the end of March 2024. Ensurtn our work delivers our aims. In April 2023 the Trust began Éts financial year in a positive position, having maximised delivery of funded projects during the previous year. We have been very grateful for the ongoing financial SUPF)Ort from repeat funders alongside new Trusts and Foundations recognising our work. This year we have been able to continue activities with our existing school and communÈfy partners as well as welcome new beneficiaries and groups to our core projects and opportunities. During this year we reviewed staff roles and responsibilities alongside the developments in our project work and school adivtties. Changes have been implemented to ensure that Kingswood Trust is fit for purpose moving forwards, both in terms of its mission and financial health. Our volunteering programmes are now fully embedded into Kingswood Trusts work, and we are very grateful to our regular volunteers and volunteer team partners who continue to have a huge impact on our developing natural environments, site and project activities. The Summer Term commenced with another busy programme of activities. For schools, there was an eagerness to get back on track with residential stays and day visits. For those children's families vtho were unable to meet the costs of a visit. we provided a voucher scheme and offers throughout the year that supported those in need. Schoollgroup leaders and parents felt that this had been a lifeline and had improved access to enable everyone to participate. In the coming 12 months we wll begin a new "Free Residential Places" project to support the most disadvantaged and to bring new groups to Kingswood Trust who would not normally be able to afford to join in. This year we have also developed our work with families, providing a fully funded family experience day, "A¢cess2Nature" Project for families in need. Page 3
Klngswood Trust (Registered number: 08150066) Report of the Trusteos for the Year Ended 31 March 2024 We hold the Learning Outside the Classroom Quality Badge- this is the only nationally recognised indicator of got)d quality educational provision and effective risk management. The quality of our service and safety and safeguarding compliances were re-assessed with a new inspection due in September 2024. We are also very proud to hold the Queens Award for Voluntary SeNice. The skill set of the 7 strong Trust Board has continued to provide good governance of the charity - offering appropriate knowledge, skills, and experience in aspects such as finance, education, the environment, the communty, and strategy. Regular monitoring of financial accounts and centre policies ensures due diligence and protection of the charity and the safety and wellbeing of all stakeholders. Timely committee and subcommittee meetings and Trustees actively participating in some of the day-to-day volunteering opportunities, projects and events has ensured that the Charity manager and staff receive appropriate Challenge and support. Policy reviews and updates have remained on track. The historical background to Kingswood Twst is very levant to our ongoing work and has been highlighted even more during this reporting period. Kingswood has been an important asset wthin its local community tor 100 years and on 7th July 2023 we celebrated our centenary with friends, stakeholders and The Lord Lieutenant of Staffordshire Mr. lan Dudson. Celebrations included tree planting, burial of a time capsule (to be dug up in 50 years), a perfomiance of the nevAy created Kingswood poem by children and Emma Pursehouse (Poet Laureate) and viewing of our new historical displays. Kingswood began as 'Wolverhampton Children's Holiday Camp.. It started with the idea that 'poorf children could benefit from a holiday there. The original buildings were Wodd War l Nissan huts with stretchers for beds and a pavilion was built in the 1930's. This became the hall that is still in use today. During World War 11. brick-built dormitories (still in use) were erected, and Air raid shetters were built for emergency use. After World War 11, the holiday camp was purchased by the Local Education Authorty to house an Open-Air School for "delicate" Children. Many suffered from breathing problems, were under nourished with poor development and their families were in social need. The open-air school had a signfficant impact for many years due to outdoor lessons and the medical and educational support at the school. The children made huge progress out of the city in this countryside environment. In 1958 it was decided to build new a¢¢ommodation on land next door. Since 1973, the site has been used as an environmental centre to enable children and the wider community opportunities for residential and day visÈts, forest school activities and to leam about nature, with the site being transferred in 2014 on a 125-year lease to the Kingswood Trust, a registered charity. Since 2014 we have developed both our Charitable activf(ies and site. Initially, on becoming a charty, we further developed our links with our local community as well as fvnders, alongside continuing to run residential stsys, day visits and Forest School programmes for schools, generating income from fees. We identified that some children and families were not able to participate due to financial and other constraints. Consequently, we began to develop distind projects to address some of these barriers. In 2023, this continues to be a priority, that we are successfully addressing during the ongoing cost of living crisis and with so many families reporting P¢x)r mental heatth and wellbeing. Our staff team of 7 has been extremely well supported by an ever-growing band of volunteers. During this year we had over 28 regular volunteers supporting beeen 1 and 3 sessions per ek. We were pleased to support 6 students wth their Duke of Edinburgh Awards, and for a se¢ond year provide 12-month placements for 2 environmental science students from Hafper Adams University. We provided 3 school work-experience placements and 4 college volunteer days. We were able to provide regular volunteering opportunrties for other partners including Shropshire Wild Teams (Mental Health Adult Group), Afro Caribbean Community Initiative (Gentlemen with poor mental heatth), The Wolverhampton Reparation Service and Highflyers (Adults with Special Educational Needs and Disabilities). Our new "Roots Projecr, provided a 6-week volunteering programme for 18 refugeeslasylum Seekers living in hotels in Staffordshire. This year we have also seen an increased number of groups approaching the charty to support us through days of giving and companies through their Corporate Social Responsibilty policies. For example- Collins Aerospace, Jaguar Land Rover, Robaston College, Sandwell College, TELUS Communications, One Savings Bank, Paycare, South Staffordshire Council. Hindley's Construction and Brindley Asphalt Ltd. The demand for volunteering alongside the benefits to people and Kingswood Trust has demonstrated a need for employing a volunteer coordinator, which we will be fundraising for in 202415. Page 4
Klngswood Trust (Reglstered number: 08150065) Report of the Trustees for the Year Ended 31 March 2024 Our volunteers wth their enthusiasm, energy, and commitment continue to maintain environments and complete a whole host of grounds work activities.. grass cutting, clearing back overgrown bramble, digging, stacking deadwood, building brash fences, and maintaining the new accessible garden, growing areas. Our new ponds were fully operational by the beginning of April 2023. New hedges have been planted and a mature hedge layed. Qngoing maintenance has been completed to bee nesters and bat and bird boxes. Our new "Mindfulness Garden" has been ongoing with the support of our volunteers throughout this period - this aims to provide an accessible calm space that offers a sensory experience and a place for reflection. Volunteers support indoor and outdoor activities. painting and repairing the building, supporting with applications for funding, publicty and marketing. They are an integral part of our planning and delivery of community events and weekly Saturday opening to the public. In addition, our volunteers spend a lot of time talking to our visitors and beneficiaries and help the Trust to capture feedback in a variety of fomiats and to shape our service. Many support our project delivery directly also. During this year we have continued to record data and monitor projects carefully, recording outcomes, taking photographs, completing questionnaires, and recording quotes from participants. This has helped us to produce several case studies and project information leaflets along with physical displays of our activf(ies to share with others. This is an effective way of communicating what do, who can participate and what the impact has been to existin9 and potential partners, funders and to take to network and community events. We have sought new opportunities this year to speak to local groups, both through fomial presentations and infonnal stands in our communty about our work and what we can offer and to find out what people need and would like to do. staff Professional Development and Learning for all continues to be a priority. The trust uses an online training company, available to all staff and volunteers. This year, staff have completed training in Health and Safety, Fire PreventionIFi Warden Training, Equality and Diversity Training, Special Educational Needs, Safeguarding and Food Safety. First Aid training {fa¢e to fao) has been completed in line with government guidance. All required personnel hold an enhanced DBS check. We benefrt from several people with expert knowledge already supporting Kingswood Trust in temis of the environment and nature. In addition, many of our volunteers support their peers. We engage with local bee, bat and bird experts and this year ran another successful bioblitz with teachers from Stsffordshire University, local wildlife and woodland trusts, solrtary bee experts and a wildfiower enthusiast from Staffordshire Naturalists Group. Bird Ringing has continued this year, with one of our students gaining her Bird Ringing Licence and moving onto employment. In terms of reputation, the Trust starts from a positive position. Feedback from schools, beneficiaries and current customers and their evaluations and testimonials demonstrate we Continue to have an excellent reputation amongst those who know and use the service. Our service user5 have also commented regarding the range of improvements and developments that have tsken place this year. This year V have collated evidence of need around our charitable activities and wll be putting fofward an application to The National Lottery Community Fund to aim to secure revenue funds towards project delivery and capital funds to refurbish the Community Hall Core Activities and Pro èct Dellve The five actlvltles below are a summa of our core Iness and out uts. 1. Resldentlal stays<hildren stay away from home for one or nights, often for the very first time. They share a bedroom with their peers, enjoy family-style mealtimes, make their ovm beds, and take responsibilty for themselves. Throughout their stay. the children engage in a variety of curriculum-based and team and wellbeing activities around the environmental site. They go on walk8 to Ial villages, farms and common land and experience learning and life in a rural environment. - In 2023124 we delivered 44 resldentlal opportunlties, supporting 1760 children. 2. Day visits-these involve carefully planned leaming opportunities in our world outside the classroom. Themed and bespoke days encotjrage a focus on learning and personal development and include wellbeing days, team days, story-themed days and environmental, history and Forest School actwities. - In 2023124 we dellvered 78 Day Visits supporting 2520 children Page 5
Kingswood Trust (Reglstered number: 081500651 Report of the Trustees for the Year Ended 31 March 2024 3. Forest School Programm8s-Children from aged two, visit one day per Vek for six weeks or more for a child-centred woodland programme, aimed at developing confidence, independence, and self-esteem. Activities include woodland investigation, sensory activities and obsepiing wildlife. They use tools and work creatively with natural materials. - In 2023124 we dellvered 9 programmes supportlng 108 chlldren 4. Calendar of community events and actlvltle8- 2023124 included quiz nights, games nights, a Superheroes Day, Green Fair, Dawn Chorus, Holiday Clubs a Music Festival and Family Camping. Three members of staff at Wates Construction walked Hadrian's Wall and raised funds through their sponsored walk. We are open for Saturday Forest Fun. each week and have run early years sessions, stay and play owlets, wtnter warmers for older people. - Our 2023124 Eventbrite numbers show that 1895 people booked online + 180 on arrlval. Total = 2075 attendees 5. Voluntserlng- Our Current 28 regular volunteers attend up to 3 sessions per week, undertaking grounds and site maintenance, environmental project development eg new ponds, habitats and mindfulness garden, support with our community events and weekly Saturday Forest Fun as 11 as promoting and publicising our activities and helping with the delivery and evaluation of projects. We also provide both group and corporate volunteering. - In 2023124, Our regular (28) voluntsers completed more than 5834 hours of weekly voluntsering - In addltion, (114) other voluntsers attonded as a team or helped as an individual for a range of events and activities totalled 3553 hours. - Total Volunteers = 142 Total hours commltted = 9387 The followin rovide an outline of 3 ke ects which we sou ht fundin to dellver in 2023124 Days In the Woods Project-The project specifically targets the most deprived and disadvantaged children aged 3-11, including children with special educational needs and disabilities- for example, those with autism, sensory impairments, medical conditions, and children with mental health challenges. They explore and work creatively with a range of natural materials and make a base camp and shelters for their activities. They build and cook on a campfire, leam about camp ¢raft, climb trees, build dens and have fun. Transport is included. Through these activities we have been able to provide activities for many children who live in areas of social and economic deprivation and who rarely travel away from their immediate home environment. - In 2023124 we delivered 26 Days in the Woods, supporting 780 children. Nature Connections Project-The project focuses on supporting older people (and their carerslfamily members), many of whom have been diagnosed with dementia and other progressive neurological disorders, conditions that profoundly change the practicalities of their everyday lives. We have also identified a need to support other disadvantaged adult groups e.g. those with SEND'S, poor mental heaFth, brain injury and older members from ethnic minorty background5 wtho may not engage with other services (these groups are not captured in any of our other projects and experience exclusion, loneliness and isolation).'Nature Connections, activities include woodland walks, pond dipping, bird watching. sensory activities, meet the pets and nature-based craft and creative activities. In addition, beneficiaries will visit our W2 air raid shelters-used to stimulate memories and communication (refreshments included). This project has been a lrfeline for those older people on their own but also for career who have little respite. - We have been able to work with 10 partner organlsatlons. - In 2023124 delivered 26 Nature Connections opportunities. supporting 624 older or isolated people. Page 6
Klngswood Trust (Registered number: 08150065) Report of tho Trustees for the Year Ended 31 March 2024 A¢coss2Nature Project-These are day visits for families in some of the most deprived parts of Wolverhampton and the West Midlands and South Staffordshire, some with multiple disadvantages. Beneficiary children might include those with SENDS, families facing trauma and those with poor mental health. Many of whom have no gardens or green spaces to play in and enjoy. Family engagement activities include woodland trails, animal encounters, practical nature crafts, games, Campfires, and other nature-based activities. The provision of transport and a hot meal has been very well received by families this year with many struggling to provide for their children and themselves. Access was highlighted as barrier for many families with all saying that they would not be able to afford an entry fee to activities. Most parents said that they had no car, many with no garden and lacked the funds and confidence to attempt public transport. Many parents said that they had really enjoyed being outdoors with their children, away from the internet and devices and the pressures of family life at home. - In 2023124 we delivered 18 Access2Nature Days supporting 882 Beneficiaries - We were also able to offer 8 bespoke Ukraine Family Days for Families in or locality supporting 285 people Total Core Activity Bèneficiarles = 6605 people Total Project Funded Beneficiaries = 2572 people During this reporting period we have been able to support a total of 9177 people and our volunteers have contributed 9387 hours with a value of £112,644 (based on £12 per hour) FINANCIAL REVIEW This has been the tenth period of account representing the year to March 2024. The principal funding source, aside from income generated from its charitable ¢harges, activities and services, is grant income from Trusts and Foundations. The attached accounts for Kingswood Twst show a deficit of £29,804 (2023 surplus of £2,934). The reseNes policy is to ensure that sufficient reseNes are available to meet the working capital requirements of the charity. STRUCTURE, GOVERNANCE AND MANAGEMENT Goveming document The Kingswood Trust is a charitable Company limited by guarantee, incorporated on 19 July 2012 and registered as a charity on 7 November 2012. The company was established by a Memorandum of Assouation which established the objects and powers of the charitable company. It is govemed under its Articles of Association. As the charity is limited by guarantee there is no share capital. Recrultment and appointment of new trustoes The Directors of the company a also Charity Trustees for the purposes of ¢harty law. The method adopted for appointment of trustees is election to the post for a period of 2 years. Kingswood Trust is governed by the appointed trustees. The Trustees Board Membership representatives are elected and appointed by the 4 membership groups. Most of the trustees give their time voluntarily and receive no benefits from the charty. The only trustees receiving any financial benefit are detailed in Note 5 to the accounts. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 08150065 (England and Wales) Rggistsred Charlty number 1149688 Page 7
Klngswood Trust (Registered number: 08150065) Report of the Trustees for the Year Ended 31 March 2024 Reglstered offirA Holyhead Road Kingswood Nr Albrighton Wolverhampton West Midlands 13AP Trustees D Harris S Shanks P Page G Gentle R Thompson S Lacey Ms R M Harley MsCJShort Independent Examlner Geoffrey Hopwood Haines Watts Wolverhampton Limited Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA '7Wb2 Approved by order of the board of trustees on ...... ... and signed on its behalf by: Harris - Page 8
Independent Examiner's Report to the Trustees of Klngswood Trust Indepondent examlnerfs report to the trustees of Kingswood Tnjst I'the Company,) I report to the charity twstees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibllities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of trte 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the CharFties Act 2011 {'the 2011 Act'>. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 A¢t. Independent examiner's ststement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, lch is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as reqUId by Section 386 of Ihe 2006 the accounts do not accord with those records. or the accounts do not comply with the accountin9 requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Ststement of Recommended Practice for a¢¢ounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no Concerns and have come across no other matters in connection with the examination to vthich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 6.1. Jot Geofftey Hopwood The Institute of Chartered Accountants in England and Wales Haines Watts Wolverhampton Limited Keepers Lane The Wergs Wolverhampton West Midlands WV6 8UA Date.. Ig. Il. LpLY Page 9
Kingswood Trust ststemont of Flnanclal Actlvltles for the Year Ended 31 March 2024 2024 Totsl funds 2023 Total funds Unrestricted Restricted fijnds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 32,004 32,004 30,487 Charitsble actlvltles Grants 4,250 153,075 157,325 211,070 Other trading activities Investment income 198,140 598 198,140 598 190,259 157 Total 234 992 388.067 431,973 EXPENDITURE ON Operating costs 247,506 140.578 388,084 400,332 Other 3.059 Total 250.565 391143 403,293 NET INCOMEI(EXPENDITURE) BEFORE DEPRECIATION (15,573) 12,497 (3.076) 28,608 Depreciation expense (17,902) 18,826) (26,728) (25,746) NET INCOMEIIEXPENDITURE) 133,475) 3.671 (29,8041 2,934 Transfers between funds 31.227 31227) Net movement in funds (2,248) (27.556) (29.804) 2,934 RECONCILIA TION OF FUNDS Total funds brought forward 2,025 103,642 105,667 102,733 TOTAL FUNDS CARRIED FORWARD 75.863 105.667 The notes form part of these financial statements Page 10
Kingswood Trust (Registered number: 08150065) Balance Sheet 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets 42,213 37,467 79,680 83,875 CURRENT ASSETS Debtors Cash at bank and in hand 15,697 132 6,798 73,724 22,495 13,221 90,944 15.829 80,522 96,351 104,165 CREDITORS Amounts falling due within one year 10 (58.265) (41,903) (100.168) (82,373) NET CURRENT ASSETSI(LIABILITIES) 42,436) 21,792 TOTAL ASSETS LESS CURRENT UABILITIES 1223) 76,086 75,863 105.667 NET ASSETS 75,863 105,667 FUNDS Unrestricted funds Restricted funds (223) 2,025 103,642 TOTAL FUNDS 75.863 105,667 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial ststements for the year ended 31 March 2024 in accordance WFth Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for {a) ensuring that the charitable company keeps accounting records that comply with Se¢tion$ 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which othernise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. (b) The notes form part of these financial statements Page11
Klngswood Trust (Registered number: 08150065) Balance Sheet - continued 31 March 2024 These financial statements have been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial statements were approved by the Board of Twstees and authorised for issue on . and were signed on its behalf by.. Har - Trustee The notes fonn part of these financial statements Page 12
Kingswood Trust Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial ststsments The financial statements of the charitable company, vthich is a public benefft entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102> (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on a going concem basis. The Trustees have reviewed and considered relevant information, including the annual budget and future Cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mrtigate the current adverse condrtions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. Incomlng resources All incoming resources are included within the Ststement of Financial Activities en the charity is entitled to, and virtually certain to receive. the income and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income.. Voluntary income is received by way of grants, donations and gifts and is included in fvjll in the Statement of Financial Activities when receivable. Grants, vhiere entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are in¢luded at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included within these accounts. Incoming resources from chariiable trading activities are accounted for v4hen eamed. Incoming resour$ from grants. where related to performance and specific deliverable, are a¢¢ounted for as the charity earns the right to consideration by its perfonnance. Government grants that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity wth no future related costs, shall be re¢ognised in income in the period in which it berneS receivable. Resources expended Liabilities are recognised as expenditure a5 soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been ¢las5ified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent the use of resources. Tanglble fixed assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over ils expected useful life, which in the case of fixtures, fittings and equipment is estimated at 10 year, giving an annual depreciation charge at 100h straight line. Taxatlon As a registered charity Kingswood Trust is exempt from taxartion on income and gains to the extent that these are applied to its charitable objects. No taxation charges have arisen in respect of the charity during the period.charity Page 13
Kingswood Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 ACCOUNTING POLICIES - continued Fund accounting Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when spe¢ffied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. OTHER TRADING ACTIVITIES 2024 2023 Charged activrty services 198.140 190,259 198.140 190,259 INVESTMENT INCOME 2024 2023 Interest receivable - trading 598 157 NET INCOMEI(EXPENDITURE) Net resources are stated after charging.. 2024 2023 Depreciation Independent Examinerfs fee 26.729 800 25,746 750 TRUSTEES. REMUNERATION AND BENEFITS No Trustees received remuneration during the period. There was no balance outstsnding at 31 March 2024 (or 31 March 2023). No other Trustee or Related Party to the charity had any personal interest in any Contract or transaction entered into by the charity during the year (2023-nil). Trustees, expensos There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 14
Kingswood Trust Notes to the Financial Ststements - continued for the Year Ended 31 March 2024 STAFF COSTS The average monthly number of employees during the year was as follows: 2024 2023 Teaching staff Administration and support No employee received emoluments of more than £60,000 during the year to 31 March 2024. The charity operates a defined contribution pension scheme for all staff. The Charity's contribution is between 13% and 150A of salary with staff making equal contributions to the scheme. 7 staff employees are members of the pension scheme (2023.. 7). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 30,487 30,487 Charitable actlvitios Grants 20,066 191,004 211,070 Other trading activities Investment income 190.259 157 190,259 157 Total 240,969 431,973 EXPENDITURE ON Operating costs 250,484 175,594 426,078 Other 2.961 Total 253,445 175 594 429,039 NET INCOMEIIEXPENDITURE (12,476) 15,410 2,934 RECONCILIATION OF FUNDS Total funds brought fOard 14,501 88,232 102,733 TOTAL FUNDS CARRIED FORWARD 103,642 105,667 Page 15
Kingswood Trust Notes to the Flnancial Ststements - continuod for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures and fittings COST At 1 April 2023 Additions 257,459 At 31 March 2024 279 993 DEPRECIATION At 1 April 2023 Charge for year 173.584 At 31 March 2024 200 313 NET BOOK VALUE At 31 March 2024 At 31 March 2023 83,875 The Land & Buildings are owned by Wolverhampton City Council and are leased to Kingswood Trust for a period of 125 years from April 2014 at an annual rent charge of £1. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments and a¢cfued income Accrued income 5,343 12,084 2,068 12,213 1,008 22,495 13,221 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors Deferred income 58,265 41,903 50,927 31,446 100 168 82,373 Page 16
Klngswood Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS Net movement in funds Transfers been funds At 31.3.24 At 1.4.23 Unrestrfctsd funds General fund Designated fvnd (21.590) {16,761) 16 714) 38,128 6,901) (223) 2,025 {33,475) 31,227 1223) Rostrieted funds Restricted fund 103,642 3,671 (31,227) 76,086 TOTAL FUNDS 105 667 29,804) 75.863 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund Designated fund 234.992 1251,753) 16,714) (16,761) 16 714) 234,992 1268,467) (33.475) Restricted funds Restricted fund 153,075 (149,404) 3,671 TOTAL FUNDS 388 067 417,871) 29 804) Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrictsd funds General fund Designated fund (26,125) 40,626 4,535 17,011) (21,590) 23,615 14.501 (12,476) 2,025 Restrictsd funds Restricted fund 88,232 15,410 103,642 TOTAL FUNDS 102 733 2,934 105,667 Page 17
Kingswood Trust Notes to the Flnancial Statements - continued for tho Year Ended 31 March 2024 11. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrict•d funds General fund Designated fund 240,969 (236,434) 17,011) 4,535 17,011) 240,969 (253,445) (12,476) Restrictsd funds Restricted fund 191,004 {175,594) 15,410 TOTAL FUNDS 431,973 429 039) A cuffent year 12 months and prior year 12 months Combined position is as follows- Net movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestrict8d funds General fund Designated fund (26,125) 40,626 (12,226) 33,725) 38,128 (223) 14,501 (45,951) 31,227 (223) Restricted funds Restricted fund 88,232 19,081 (31,2271 76,086 TOTAL FUNDS 102,733 26,870) A current year 12 months and prior year 12 months Combined net movement in funds, included in the above are as follows= Incoming resources Resources expended Movement in funds Unrestricted funds General fund Designated fund 475,961 (488,187> (12,226) 33,725) 475,961 (521,912) {45,951) Restricted funds Restricted fund 344,079 (324,998) 19,081 TOTAL FUNDS 820,040 846,910) 26,870) General funds are unrestricted and available for use at the discretion of the trustees in fvrtherance of the general objectives of the charty. Page 18
Kingswood Trust Notes to tho Financlal Statements - continued for the Year Ended 31 March 2024 11. MOVEMENT IN FUNDS - continu•d Designated funds are unrestricted funds normally earmarked for a particular purpose. This fund represents the Fixtufes, fittings and equipment donated to the charity and is reduced annually by the depreciation charge for the period by a transfer to the General funds. Restricted funds relate to the purchase of the refreshments cabin and various grants received this year. 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 19