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2024-12-31-accounts

South West Coast Path Association

Independently Examined Trustees’ Report and Financial Statements for the year ended 31 December 2024

Reg. charity no. 1163422

Report independently examined by:

Contents

Contents
Reference and administrative details of the Charity, 1
its Trustees and advisers
Trustees’ report 2
Independent examiner’s report 38
Statement of fnancial activities 39
Balance sheet 40
Statement of cash fows 41
Notes to the fnancial statements 42

Cover image South West Coast Path Photographer of the Year Exhibition, Paddington Station, July 2024

South West Coast Path Trustees’ Report and Financial Statements 1

Reference and administrative details of the Charity, its Trustees and advisers

For the year ended 31 December 2024

Trustees

Ruth Adams Katie Ash Ken Carter (resigned 8 June 2024) Hilary Dinsdale, Chair (from 8 July 2024) Zoë Kibbey Robert Mark, Chair (to 8 July 2024) David Morris (resigned 8 June 2024) Rachel Smith (appointed 8 July 2024) Philip Spencer, Vice Chair Giles Taylor, (appointed 8 July 2024) Kevin Thomas, Treasurer

Charity registered number 1163422 Principal office Unit 11, Residence 2, Royal William Yard, Plymouth, PL1 3RP

Senior management team Julian Gray, Director Lorna Sherriff, National Trail Officer Aletha Mays, Head of Comms Emma Parkman, Head of Fundraising Accountants Bishop Fleming LLP Chartered Accountants Chy Nyverow Newham Road, Truro Cornwall, TR1 2DP

2 South West Coast Path Trustees’ Report and Financial Statements

Chair’s introduction

On behalf of the Board of Trustees I am delighted to introduce the 2024 Annual Report and Accounts. The results are a testament to the hard work of the Association staff, who have had one of their busiest years yet and also reflects the very valued contributions of our Volunteers, Members and Supporters.

Hilary Dinsdale

Building on the momentum of the 50th Anniversary last year we are continuing to increase our impact to protect and promote our beloved South West Coast Path. Income has increased for the seventh year running, amounting to just over £920k, and our planned deficit was slightly under budget at £98.5k.

Association staff have worked at and beyond maximum capacity during the year; in addition to their “normal” work, the team are fielding a huge number of enquiries relating to the release of the Salt Path film, managing the increasing number of storm damage events along the Path and coordinating establishment works for route changes and improvements for sections of the King Charles III England Coast Path (KCIII ECP) in the South West.

Our Director, Julian Gray, was recognised at the 2024 South West Tourism Awards, receiving the Outstanding Contribution for Tourism Award, which he dedicated to his whole team. He has attended and contributed to events both nationally and internationally, raising the profile of the South West Coast Path.

Volunteers were also recognised, receiving The King’s Award for Voluntary Service 2024. The Association had over 150 volunteers working on its behalf during the year. These have a range of complementary roles including Trustee, Area and Local Path Reps, Planning advisors and Coast Path Connector volunteers. The Award recognises the role Volunteers have played over the years, from the first volunteers who created the Association, through to the present day.

One of the important roles performed by Path volunteers is to survey the Path annually. Between October 2023 and March 2024 97.3% of the National Trail was surveyed. Based on the analysis of data collected we have seen the condition for Path furniture (e.g. gates, stiles, steps and bridges) and signs increase by 1% up to 75.5 % of all furniture and signage meeting National Trail standards. This slight increase is due to the extra funding that the charity has secured for the Coast Path. This is more important than ever as the local authority budgets are being constantly squeezed.

South West Coast Path Trustees’ Report and Financial Statements 3

Two Trustees retired in June, Ken Carter and David Morris. Whilst no longer a Trustee, Ken, who has been a Trustee for over 10 years and Chair for 5 of those, is continuing in his role as Chair of our Visitor Centre working group, a Path Rep for his local area and was appointed Chair of the Path Committee following the retirement of Steve Church. Steve, also a former long-standing Trustee, was persuaded to continue as Chair of the Planning Working Group. David Morris continues his involvement with the Association as Chair of the Health & Wellbeing working group.

In August 2024 the Board were pleased to co-opt two new Trustees, Rachel Smith and Giles Taylor.

Members and Supporters.

Despite a slight fall in membership income in 2024, the Board is very grateful for the continued support. Membership income was £132.3k for the year and with donations, legacies and gift aid, total member and supporter income totalled £270.5k, 29% of total income. In addition to the 50% of membership income which goes straight to protect and promote the path, donations and legacies allow the Association to continue vital projects such as Coast Path Connectors, once the main National Lottery Heritage funds come to an end.

On behalf of the Board of Trustees and staff I hope you will continue to support the Association to ensure that the SWCP remains one of the world’s great Trails.

Dorset Coast Path Connectors, The Loft walking group at Old Harry Rocks

Ms H Dinsdale

(Chair of Trustees) Date: 14 May 2025

4 South West Coast Path Trustees’ Report and Financial Statements

Objectives and activities

The Objects of the Charity, as set out in the Constitution, are:

In furtherance of these Objects the Association aims to work for and assist in:

Our Strategies

As a charity, we need to be selfsufficient in our core running costs. We also need to ensure efficient use of our supporters’ donations so that the maximum benefit is given to the Coast Path. To be as costeffective in our efforts as possible, our strategies focus on working in partnership where practicable. Our business plan prioritises the following strategies:

Enhancement of the South West Coast Path National Trail

Engagement with people using and supporting the Coast Path

Capacity building of the Association and the South West Coast Path Trails Partnership to support the Trail

Vision and Mission

The Association’s Vision is to protect and improve the South West Coast Path as one of the world’s great trails, now and for future generations. In our mission to achieve this, we will champion the South West Coast Path to help people access, enjoy and protect the National Trail.

South West Coast Path Trustees’ Report and Financial Statements 5

Studland Bay, Jurassic Coast. Credit Robert Beasley

6 South West Coast Path Trustees’ Report and Financial Statements

Reporting criteria 2024

The charity’s Business Plan sets out financial and non-financial performance measures to ensure the Association is meeting its objects, vision and mission. A fiveyear Business Plan was adopted by the Board of Trustees in November 2022 setting out the strategic aims and objectives for the Association. The Business Plan was reviewed and updated in 2023 including a detailed action plan and budget for 2024.

The three Sub-Committees of the Board of Trustees have responsibility for governance and oversight of delivery of one of each of the three strategic aims:

This 2024 Trustees Report has been structured to reflect the charity’s work across these three areas.

SWCPA Team Walk at Mount Edgcumbe

South West Coast Path Trustees’ Report and Financial Statements

7

The Coast of the South West is an important place for nature and is home for many threatened species. We are championing a Coastal Wildbelt in the South West to protect and enhance nature and connect people with nature. This can help in the UK Government’s biodiversity target of protecting 30% of land and ocean by 2030.

Reserve, South Devon. Credit Jon Rees

8 South West Coast Path Trustees’ Report and Financial Statements

Main activities undertaken to further the charity’s purposes for public benefit

Enhancement of the Coast Path Experience

The charity built on the momentum of our 50th anniversary activities last year and continued to increase our impact to protect and promote this World Class trail. For the seventh year running we exceeded our income targets and through efficiencies, we underspent our budget, ensuring more funds being directed to the Coast Path. Highlights of the year include:

• This year marked the celebration of the 75th Anniversary of the 1949 National Parks and Access to the Countryside Act . We were involved in a number of national events and participated in a Natural England podcast looking at the impact of the legislation which created our National Trails as part of our Natural Health Service.

walks over the spring and summer, led by our volunteers. Thanks to the sponsors who made this year’s campaign possible.

Coastwatch Institute’s 30th anniversary. We celebrated by launching a new partnership which saw all 24 NCI stations in the South West becoming South West Coast Path Passport stamping points.

South West Coast Path Trustees’ Report and Financial Statements

9

Top: Volunteer Path Rep Adam Carter undertaking the SWCP Annual Survey for the Portreath section, North Cornwall Bottom: Every Mile Matters campaign, Magnificent 7 Walk, South Cornwall

10 South West Coast Path Trustees’ Report and Financial Statements

Mawnan Church Steps. Credit National Trust

Trail Surface improvements, Dunscombe, Near Branscombe . Credit National Trust

Portnadler Steps. Credit National Trust

Path improvement projects:

The charity’s Path Committee supported 13 improvement projects along the Coast path that were completed in 2024 including:

works: Replacement of a corroded & broken safety rail and repointing of steps on staircase.

at Dartmouth Castle:

Reconstruction of an unsafe wall and removal of fallen debris which had blocked the route of the SWCP.

• £7.4k Chesil and Fleet Surface improvements as part of the bird and recreation initiative:

and Orcombe Point surface improvement works:

This section was regularly wet and boggy. This improvement and surfacing of approximately 475m long/3m wide footpath has made it easier to use all year round.

Replacement of an old dilapidated soft wood kissing gate with a new oak kissing gate and surface improvement and cutting back of vegetation encroaching onto the path at Orcombe Point.

Existing steps were in need of replacement. Instead of replacing like for like, it was decided to snake the path down the steep bank and use granite steps, which reduces the ongoing maintenance and was more cost efficient.

walkers. This project moved an existing livestock drinking point downstream and away from the line of the coast path to minimise any livestock standing and congregating on the path.

surface improvements: Regrading and installation of drainage to provide a level walking surface.

• £5k Sheps Hollow: The ‘Sheps Hollow’ footpath, a short 50m path between the sandy beach and the South West Coast Path, was damaged by a landslip in winter 2023/24. New steps and boardwalk have been installed, providing access once more on this very busy and popular path.

In addition, the Path Committee allocated a further £22.5K towards 6 improvement projects which were agreed in 2024 but due to be completed in the first quarter of 2025.

South West Coast Path Trustees’ Report and Financial Statements 11

Bossington Hill, Exmoor. Credit Chris Bull

We continued our support for the South Devon National Landscapes Life on the Edge project as well as the Tamar National Landscapes Tamara project.

We also received an additional grant from Natural England of £83K to go towards capital access works. This funding is part of access funding investing in improving accessibility across National Parks, National Landscapes and National Trails. We asked all the Trails Partners to submit projects and received nine proposals which were funded, six in Cornwall, two for Exmoor NPA and one for Exmoor National Trust. This is a very welcome uplift in funds for capital accessibility projects. However, this new capital funding does not address the financial pressures on the revenue-funded maintenance costs of the partners.

National Trails receive a

maintenance grant from Natural England which is allocated with a 25% match funding from the Trail partners. Owing to rising costs of materials and labour as well as the effects of climate change many of the Trail Partners are having to put in more than the allocated 25% of maintenance. Unfortunately, the National Trails’ maintenance grant has not received an inflationary uplift in over 8 years. This has cumulatively reduced the grant by £150k since 2017.

12 South West Coast Path Trustees’ Report and Financial Statements

Table 1: The table below shows the contribution put in by the trail partners.

----- Start of picture text -----
Trail Partner Natural England 25% match funding Actual match being
National Trail required by Trail provided by Trail
maintenace grant 75% Partners Partners
allocation
Cornwall £ 164,873 £ 54,957 £ 256,948
Devon £ 112,529 £ 37,509 £ 46,305
Dorset £ 40,554 £ 13,518 £ 51,407
Exmoor £ 16,378 £ 5,459 £ 5,459
Plymouth £ 3,507 £ 1,169 £ 2,373
Torbay £ 12,769 £ 4,256 £ 4,256
----- End of picture text -----

The charity will continue to champion for an increase in core maintenance budget to ensure the Coast Path remains to the highquality standard expected of a National Trail.

Managing Impacts of Climate Change

With the Trail running around the edge of the SW peninsular we are impacted by storms no matter the direction they come from. One impact of climate change is that not only are we seeing more frequent and stronger storms, but also more extreme weather events. So, the threat to the Coast Path corridor is not only the acceleration of coastal erosion, but also wind damage, run-off from significant rainfall events and increased fire risk during heatwaves.

Over the year there were 14 coastal erosion incidents leading to diversions and roll back of the path. There were also numerous smaller cliff-slips where sections of the Trail now need to be regularly monitored and plans put in place ready to divert or roll back the path before it is deemed no longer safe. Many events were cliff falls, landslips, or collapses of key infrastructure such as steps or bridges caused by heavy rain fall, flooding, or storm surges. In the last three years the trail has also experienced six significant wildfires which caused temporary closures to sections of the trail and caused destruction of the unique and fragile coastal habitats.

South West Coast Path Trustees’ Report and Financial Statements 13

Path Survey and Condition Report

Between October 2023 and March 2024 97.3% of the National Trail was surveyed. Path volunteers walked the Trail recording observations on hand-held tablets against National Trail Quality Standards, following the same methodology of previous surveys.

Based on the analysis of data collected between October 2023 and March 2024, we have seen the condition for furniture and signs

increase by 1% up to 75.5 % of all furniture and signage meeting National Trail standards. This slight increase is due to the increase in funding that the charity has secured for the Coast Path. This is more important than ever as the local authority budgets are being constantly squeezed. The results of the survey are summarised in Table 2 below:

Table 2: The percentage of Coast Path infrastructure meeting National Trail Quality Standards 2001 to 2024.

----- Start of picture text -----
Criteria 2001 2005 2009 2012 2016 2017 2018 2019 2020 2021 2022 2023 2024
Furniture 73% 81% 86% 89% 86% 85% 85% 85% 84% 80% 87% 84% 84%
Signs 46% 58% 69% 79% 74% 73% 72% 76% 75% 69% 74% 75% 76%
All infrastructure 62% 71% 78% 84% 81% 80% 79% 81% 80% 75% 80% 80% 80%
----- End of picture text -----

South West Coast Path Trail Partnership

The Trail Partnership oversees the management, maintenance, improvement and promotion of the South West Coast Path National Trail for the benefit of the public. It champions the protection, enhancement and access to the landscape, biodiversity and cultural heritage of the Coast Path corridor. The Delivery Group comprises six Highway Authorities (Cornwall and Dorset Councils, Devon County Councils, Torbay Council, Plymouth City Council and Exmoor National Park Authority), the National Trust, Natural England (NE) and the SWCP Association with Ken Carter the independent Chair. As set out in A New Deal for National Trails, Natural England

provides an annual grant to the SWCP Trail Partnership to help maintain the Coast Path to the higher quality National Trail standards. This grant funds a maximum of 75% of the day-today maintenance of the National Trail, paid directly to the Highways Authorities, who, with the National Trust fund the remaining 25% (because of the pressures noted in the climate change section above, this proportion has risen from 25% to 50% with increasing costs and liabilities). The 2024/25 NE grant settlement was £525k plus an additional £83k for capital access works. The grant allocation is set out in a Delivery Framework and based on percentage of path

14 South West Coast Path Trustees’ Report and Financial Statements

within each jurisdiction.

Table 3: Percentage allocation of Natural England grant allocated towards maintenance by Highway Authority area.

----- Start of picture text -----
Highway Proportion
Authority of grant
Cornwall 48%
Devon 30%
Dorset 12%
Exmoor 5%
Plymouth 1%
Torbay 4%
----- End of picture text -----

A proportion of the NE grant is used to fund regional co-ordination work on behalf of the Partnership by the National Trail Team including the National Trail Officer

and is managed by the Association. The SWCP Trails Partnership delivery group met twice over 2024. The main topics considered included: establishment of the King Charles III England Coast Path; mitigation of climate change impacts; development of a Coastal Wildbelt to promote nature recovery; and managing planning issues along the National Trail corridor. The Partnership agreed to continue to invest in the SWCP Trails Partnership Project (TPP) for a further three years. The TPP helps build capacity of the charity to generate extra investment in the Coast Path.

Table 4: Annual breakdown of investment into the Trail Partnership Project by the SWCP Trails Partnership.

----- Start of picture text -----
Trail Partnership Project investment 2024
Cornwall Council £ 10,635
Devon County Council £ 6,540
Dorset Council £ 3,550
Exmoor National Park Authority £ 1,190
National Trust £ 17,250
Plymouth City Council £ 370
South West Coast Path Association £ 17,250
Torbay Council £ 715
Total £ 57,500
----- End of picture text -----

South West Coast Path Trustees’ Report and Financial Statements 15

----- Start of picture text -----
Coast Path Connectors Plymouth Walkers at Mountbatten
----- End of picture text -----

Coast Path Connectors

Thanks to funding from National Lottery Heritage Fund, we continued our 2-year Coast Path Connectors Project throughout 2024. With a team of 5 part-time Project Officers based on the Path in Cornwall, Plymouth, Torbay, North Devon and Dorset, the project aims to open up coastal walking to new audiences and to train up new volunteers to carry on this work. The project aims to boost health and wellbeing of participants, as well as introducing them to the heritage and natural environment of the Coast Path with the hope that people will continue to walk as groups and independently in the future.

Key outputs of the project in 2024 included:

Examples of walking programmes in 2024:

•

Management support group, The Lodge Cancer Support and Information Centre, Live Longer Better course participants

An external evaluation report was commissioned, and the following key results were:

16 South West Coast Path Trustees’ Report and Financial Statements

Coast Path Connectors Torbay, Brixham theatre volunteers at the Daymark near Coleton Fishacre

We also found out from our regular participants that:

In October 2024 we held a Health and Wellbeing Strategy workshop with SWCPA staff, Trustees and partner organisations with the aim of shaping Coast Path Connectors into the future and embedding it within the Association. The work of the project will be continuing throughout 2025 following a successful fundraising campaign.

Quote from a partner organisation:

The walking group allows students to focus on their health and wellbeing, providing the opportunity to explore the Coast Path around Plymouth and the surrounding area, promoting independence and demonstrating how accessible it is to explore the coast using public transport. Students have developed social connections with others with the walks helping to alleviate stressors related to studies and academic pressures through exercise, spending time outdoors and connecting with nature.” Jay Johnson, Mental Health Advisor, University of Plymouth

Quote from a walk participant:

Joining the coast path walks helps me deal with the future, both mentally and physically as it has re-introduced me to beautiful, dramatic locations to walk, in all kinds of weather and being in the outdoors environment, listening to nature keeps me healthy, I hope! The walks give a purpose to my life now I’m ‘on my own’ as I like to join as many as I can, testing and measuring my physical ability and mental awareness, being eager to always to learn about new things to enjoy. Taking time to contemplate the sounds, colours, textures, etc of nature and be inspired by the amazing world around us. Regular exercise in a wonderful landscape.’’

Planning

The Association continues to make representations to the relevant Local Planning Authorities and other appropriate bodies whenever proposals or plans might have an adverse impact on the Coast Path and the experience of its users. In this role it is helped by its five volunteer planning advisors, who between them cover the whole 630 miles of the Coast Path.

We continue to link in with the local Ramblers groups who notify us of any planning applications as well as the National Trust and working to increase our connection with the National Landscapes planning teams. We continue to work with partners to get complete coverage of the National Trail.

During 2024 the Association had sufficient concern to make representations on 25 planning applications. Of these, 16 were formal objections to the development applications. One application was supported. Five applications were commented upon but we made no objection. For the remaining three applications we kept the right to object subject to provision of further information. There were several applications where an applicant appealed a refused development where the Association continued to uphold our objection.

The association supported National Trail UK’s submission to the National Planning Policy Framework consultation. We recommended that the definition of National Trails is strengthened and that the Coastal Margin is recognised within the planning framework.

Coast Path Connectors Cornwall Volunteers and supporters on a history tour of St Agnes Head

18 South West Coast Path Trustees’ Report and Financial Statements

King Charles III England Coast Path

to rule on Planning Inspector recommendations and we are championing to get these reports finalised and signed off.

Natural England continues to co-ordinate the designation of the KCIIIECP National Trail. When complete it will cover over 2,700 miles around the coast of England. By the end of 2024, Minehead to Combe Martin, Kingswear to Lyme Regis and Rufus Castle to Lulworth sections of the KCIII ECP were fully open. Part section openings occurred on Marsland Mouth to Newquay and Newquay to Penzance. Establishment works for improvements of new sections of the route will be undertaken once sections are approved by the Secretary of State. Many sections of the KCIIIECP in the SW are already in the planning or delivery phase of the establishment works and due to open during 2025. However, there remains two sections where the Secretary of State has yet

We were successful in drawing in £156K from the KCIIIECP Establishment grant for refurbishment works to the iconic stairway at Royal William Yard which will be completed in early 2025. We received a further grant of £11k from Natural England to co-ordinate and produce signage and interpretation along sections of the National Trail in Cornwall. Information panels and plaques are being designed for estuary crossing locations to provide all options available, whether by ferry or showing the best route to walk around the estuary.

KCIII ECP improvements at Porthcothan. Credit Cornwall Council

South West Coast Path Trustees’ Report and Financial Statements 19

Coastal Wildbelt

The Protected Landscapes Partnership continued to support the Coastal Wildbelt project with funding from DEFRA. A SW Pilot project was led by the charity working with National Trails UK to identify opportunities and barriers to delivery of this ambitious project to improve nature and people’s access around the English coast. The Coastal Margin will deliver around 950 square miles of new open access land with over 10 million people living within 5km. Over 200k hectares of Coastal Margin have been identified as having the potential to contribute to our 30by30 biodiversity target, which equals around 1.6% of England and 71% of this area is made up of Priority Habitats including Mudflats, Coastal Saltmarsh, Maritime Cliff and Slope, Coastal Sand Dunes and Coastal and Floodplain Grazing Marsh.

National Trails UK

We continue to play an active role in establishing and developing National Trails UK as a voice to champion the trails network. Meetings have been held with Ministers and senior government officials to argue the case for continuing funding for Trails, so we can increase the positive social, economic and environmental impact of the Coast Path. The team attended NTUK’s inaugural summit and presented our Coast Path Connectors and Coastal Wildbelt work.

Bruce Trail and South West Coast Path Friendship Trail opening Canada

NT UK Summit

World Trails Network

The charity continues to be actively involved in the World Trails Network to share experience, skills and research across the international family of trail managers. Our collaboration with the Bruce Trail Conservancy in Canada is the first Friendship Trail we have developed and is already giving new insights into volunteer management. Presentations on the Coast Path Connectors and Coastal Wildbelt projects were given at the biennial World Trails Conference in Ottawa. This work is important in helping flag that the South West Coast Path is one of the world’s great trails.

20 South West Coast Path Trustees’ Report and Financial Statements

Fundraising to support the coast path

We have grown the income of the charity from £400k in 2018 up to £920k in 2024. Grant and charitable trust fundraising has been a significant part of this fundraising. This helps support works on the ground to improve the National Trail and connect people to nature along the Coast Path. We have received £520k in grants and trusts in 2024, an increase from £471k in 2023. This accounted for just over 56% of our annual income.

This continued increase since 2023 is due to National Heritage Lottery Fund support for the Coast Path Connectors project and increased Natural England funding. Grants and trusts are assigned to restricted projects as follows: Trail Partnership Project £40k, National Trails Team £92k, Path improvements £265k, Coast Path Connectors £124k.

Table 5: List of reportable Trusts and Grants received by the Charity during 2024.

----- Start of picture text -----
Trusts
29th May Charitable Trust £5,000
Clare Milne Charitable Trust £10,000
Grants
National Lottery Heritage Fund, Coast Path Connectors £105,416
Mustard Tree, Walking Grant £3,200
Natural England, England Coast Path Grants £6,611
Natural England, Path Improvements £256,280
Natural England, Team Grant £92,149
SWCP Trail Partnership Project £39,880
----- End of picture text -----

South West Coast Path Trustees’ Report and Financial Statements 21

Association Membership

We received just over £132k in membership income in 2024: this accounts for 14% of 2024 income. 50% of membership income is allocated to a restricted fund to protect and promote the Coast Path; amounting to over £66k in 2024. This demonstrates to

members that their funding goes directly towards improvements on the ground. Membership income grew significantly from 2016 to 2022 and then plateaued in 2023 and started to drop in 2024 - see table 6 below:

Table 6: Membership income 2016 to 2024.

----- Start of picture text -----
Year 2016 2017 2018 2019 2020 2021 2022 2023 2024
Income £76,384 £94,664 £96,267 £108,167 £114,660 £129,333 £135,897 £135,236 £132,334
----- End of picture text -----

The decrease in membership income following the plateau in 2022-2023 is a high priority for the charity. The continuing cost of living crisis and change in demographics is having an impact on membership income. International memberships have been significantly impacted by the introduction of more stringent implementation of customs and local taxes, especially with the EU

members following Brexit. A digital international membership is under review to address this issue. We will also be running a membership survey in 2025 to gauge our current membership demographic and motivations. The data will provide a clearer picture of where our membership currently sits and where we require recruitment and what the future of the membership offering is.

Path Completers

a 11% increase from the previous year.

Table 7:

----- Start of picture text -----
Completers 2016 2017 2018 2019 2020 2021 2022 2023 2024
Members 90 97 91 101 73 90 90 119 110
Non members 75 95 150 151 112 179 187 101 135
----- End of picture text -----

22 South West Coast Path Trustees’ Report and Financial Statements

ATASS Sports Business Mile Maker

Donations

In 2024 the charity received over £95k in donations and Gift Aid, accounting for 10% of annual income. Whilst there was a drop in overall donation income compared with 2023, this can be explained by a large one-off donation of £65k received in 2023. In addition, some income raised in 2024 was not paid until 2025, including an individual fundraiser raising over £5k. The recruitment of a new Head of Fundraising will allow more continuity in stewardship of individual fundraisers in 2025. Individual donations have remained strong during 2024. Review of the donations page on the website to better streamline online giving and enable monthly donations will aim to support the charity growing this income stream in 2025. New technology was introduced to accept tap-and-go donations at events. Some glitches have been identified and systems have been improved to deal with the issues. This year some regional appeals were launched following the winter storms which the charity supported rather than launch our own storm appeal. As such, there was a drop in appeal donations.

Commemorations and In-Memoria

Our continued ‘Free Wills’ partnership with Tozers LLP, which was launched for our 50th Anniversary, continues to bring legacy pledges and donations to the charity. Realised legacy gifts in 2024 amounted to £43k amounting to just over 4% of overall income. The in-memory Mile Maker scheme is currently being reviewed as the cost of liaison and implementation exceeds the donation ask. There is also an over 18 month waiting period due to the request of specific locations. In memory donations via JustGiving have continued. We have a specific Just Giving campaign “In their footsteps”, however most Just Giving in memory pages are set up individually and donors have not yet engaged with this.

Corporate Engagement

Following the highly successful 50th anniversary celebrations in 2023, we returned focus to our umbrella campaign, Every Mile Matters (EMM), highlighting the impact that climate change has

on the Path. In 2024, the EMM campaign attracted support from a range of corporate supporters and raised £14k in sponsorship. This included St Austell Brewery as Headline Sponsor at £5k. Also, John Fowler Holidays, North Devon; The Esplanade Hotel, North Cornwall; Warrens Bakery, West Cornwall; Seasalt Cornwall, South Cornwall; Luxury Coastal, South Devon; Great Western Railway, Sustainable Transport all at £1.5k each.

The South West Coast Path

Photographer of the Year received sponsorship from Great Western Railway that culminated in a large scale exhibition at London’s Paddington Station in July.

MACS Adventures provided a £5k donation towards path maintenance for the second year running, and Luggage Transfers supported through generating £1.9k in donations from their customers. The South West

Business Council supported the Association through their Charity of the Year programme. We received support from Practice Plus Group , Plymouth, as their Charity of the Year. Corporate Mile Makers, Atass Sports , fundraised £3k to support the charity.

South West Coast Path Trustees’ Report and Financial Statements 23

Way Makers

We saw the number of Way Makers increase by almost 120 in 2024 with over 560 businesses now part of the scheme. The SWCP Passport programme continued to grow with over 200 Passport points now established along the Coast Path – new points included the 24 NCI observatories and seven Flapjackery stores around the Trail. Additional income was generated through partnerships with two leading letting agency brands, Sykes and Travel Chapter. Income from Way Makers in 2024 was £22k making up just over 2% of overall income, but the programme delivers significant other benefits to the charity and users of the Coast Path.

Marketing and Communications

The Every Mile Matters campaign helped to raise awareness of climate change and how it is impacting the Path. As part of the campaign, we organised the Magnificent 7 walks, where we walked with sponsors, volunteers, supporters, members and SWCPA team and trustees across each section of the SWCP.

Our 2024 photo competition received over 1,500 entries with a stunning image of the Cobb at Lyme Regis during Storm Ciaran selected as the overall winner, showing the impact that storms are having on our coastline. With support from Great Western Railway, we were able to hold a large-scale exhibition at Paddington Station, London during July 2024, which was seen by tens of thousands of people. Following the display in London, the exhibition panels were transported to Plymouth and exhibited at Royal William Yard as part of the Artober festival. We also screened the Trailblazer Walk film, Coast Path Connector (Dorset) film, and short films of two transformative journeys on the SWCP by Jennie and Caroline as part of the celebrations.

The that chronicled our 2023 epic relay along the SWCP, was narrated by Raynor Winn (author, The Salt Path) and had its premiere at the World Trails Film Festival in Ottawa, Canada (October).

Content on the website was updated throughout the year. In 2024 we posted 40 blogs that were viewed 20,695 times by 12,407 visitors.

Stamping the Coast Path Passport in North Devon

Trailblazing remained our flagship member bi-annual publication that includes news from the charity, our members, trustees and guest articles exploring issues pertinent to the care and protection of the National Trail. The spring and autumn issues focused on our Every Mile Matters campaign, the KCIII England Coast Path and the SWCP Photographer of the Year.

24 South West Coast Path Trustees’ Report and Financial Statements

Helen at St Ives NCI station stamps the Coast Path Passport

Social Media and e-Communications

Throughout 2024 we issued two eNews every month to members and wider supporters – reaching an audience of around 10,500 each month. Quarterly updates that included information on the Association as well as relevant tourism research and news were also provided to our Way Makers. Social media engagement continued to grow over the year with Facebook followers increasing by 15%; Instagram by 13%; Threads by 170%; and LinkedIn by 40%. Following on X (formerly Twitter) dropped by 3.5%, which reflects changes on the platform in the last two years. Our X account has been mothballed, instead we are trying BlueSky, an open-source alternative. We are now reaching a combined audience of 118k on all our social media channels.

Our eNews continues to include information on the charity (Path News); Fundraising (Make a Difference); Explore (Walks); Shop; and an offers section for the members eNews, including Way Maker and partner offers. Our open rates are above the national average (approximately 21%), with member eNews at 59% and supporters eNews at 40%. Taking into consideration our social media channels, blog site and eNews, we are talking to a combined audience of over 140k.

In the News

Every Mile Matters, our umbrella campaign, was launched and well-supported by our sponsors; we featured on ITV West Country and discussed the campaign. The Association partnered with the National Coastwatch Institution (NCI) as Coast Path Passport stamping points, receiving local press and a piece on ITV West Country.

The SWCP Photographer of the Year competition received regional press coverage, as well as interviews on BBC Radio Cornwall and BBC Radio Devon.

The opening of the KCIII England Coast Path in Exmoor was broadcast by ITV News. The Trailblazer Walk Film premiered at the World Trails Film Festival in Ottawa, Canada. The charity was awarded the King’s Award for Voluntary Service (Devon), equivalent to an MBE. In

celebration of the 75th anniversary of the National Parks and Access to the Countryside Act, Natural England hosted a two-part podcast series, on which we featured. To round off the year, the Coast Path Connectors project featured on Countryfile, interviewing the team and volunteers.

Individual fundraiser, Emma Scattergood, held an exhibition celebrating the SWCP 50 pictures for 50 years – the Creative Path, at Durlston Country Park in Dorset. This received local press coverage, including the BBC News and raised £750.

South West Coast Path Trustees’ Report and Financial Statements 25

The Salt Path

premiere in Toronto, Canada which received international press coverage. The release of The Salt Path official poster was met with excitement across our social channels, receiving more than 800 shares, 1.2k comments and 14k likes.

Maps, Guides and Merchandise

The sales of maps and guides rose 14% on 2023 while other retail income dropped by 13%. We are running down old stock as work is underway on refreshing the charity’s brand and new merchandise will be available in 2025.

Table 8: Number of Maps and Guides sold by the Association 2016 to 2024.

----- Start of picture text -----
Publications 2016 2017 2018 2019 2020 2021 2022 2023 2024
Complete 636 542 1,103 1,191 1,404 2,130 2,129 1,530 1,903
Guide
Reverse Guide N/A 132 153 179 289 348 248 278 250
Day Walking 1,981 3,166 3,446 2,804 2,778 2,920 3,732 3,420 2,801
Guides
----- End of picture text -----

26 South West Coast Path Trustees’ Report and Financial Statements

Running the Charity

Governance

A key governance issue for the Board over the year was discussions around the expansion of the geographic scope of the work of the charity with the establishment of the KCIIIECP. A resolution was passed at the AGM to include the relevant sections of the England Coast Path in the work of the charity which will now go to the Charity Commission for approval before being ratified at a future AGM.

Ken Carter and David Morris resigned as Trustees in June. Bob Mark stood down as Chair in July and Hilary Dinsdale was elected as the new Chair. Following a recruitment process Rachel Smith and Giles Taylor were co-opted as Trustees in August.

AGM at Dunster Castle

Annual General Meeting

The Association’s Annual General Meeting (AGM) was held as a face-to-face meeting at Dunster Tithe Barn in June, the first time it has been held in Somerset for a number of years. The AGM was attended by around 70 members and included presentations by the Chair on the work of the charity and the Treasurer on the 2023 Accounts. The AGM was followed with a completers certificate ceremony.

Human Resources

A new Head of Fundraising was successfully recruited during the year. The five project officers funded through the National Lottery Heritage funded Coast Path Connectors project had contracts renewed for 2025 following a successful fundraising campaign. New HR policies and procedures were developed and training delivered to the team and volunteers with a continuing focus of the charity’s outreach work.

Enquiries and Complaints:

The charity continues to receive over 1,000 enquiries a month, with a third of these coming from members. The charity dealt with several issues and complaints over the year. Most complaints were related to web site issues in the summer, which were resolved.

South West Coast Path Trustees’ Report and Financial Statements 27

Achievements and performance

Key Achievements

of 2024 was the recognition of our volunteers receiving the Kings Award for Voluntary Service. This is an important acknowledgement of the importance of volunteers in running the charity and helping protect and promote the Coast Path.

We successfully delivered the second year of the charity’s new five-year business plan and continued to build on the 50th anniversary enabling us to raise over £920k over the year. Much of this fundraising was for specific capital projects improving the Coast Path. We have also worked with Natural England, the National Trust, and Highway Authorities to ensure that the establishment of the KCIIIECP improves the experience of the South West Coast Path.

The Business Plan focusses our work to maximise the public benefits delivered by the SW Coast Path. Our priority in 2024 was to protect and enhance the Coast Path experience not only for people who use and enjoy the path, but also those who are currently excluded from this national resource.

The National Lottery Heritage Funded Coast Path Connectors project exceeded its targets in the final year of the project. Our community engagement work across the five hubs (Plymouth, Cornwall, North Devon, Torbay and Weymouth) has developed local partnerships to improve equity of access and raised the profile of the Coast Path and the charity.

Displaying the Photographer of the Year exhibition at London’s Paddington Station was a huge opportunity to engage with new audiences and showcase the South West Coast Path. As the exhibition was held at a key transport gateway to the SW it helped the charity flag sustainable transport issues getting to and around the Coast Path.

Coast Path and the charity’s work at national and international levels with presentations of our Kings Award for Voluntary Service work at the National Trails UK Summit, Natural England and Institute of Civil Engineering podcasts, a EUROPARC webinar and World Trails Conference. Director, Julian Gray, was presented an Outstanding Contribution to Tourism Award at the SW Tourism Awards for work promoting the Coast Path and the tourism businesses that help make the SWCP a world class trail experience. Julian Gray with the

Julian Gray with the Outstanding Tourism Award

SWCP Photographer of the Year Exhibition at Paddington Station

28 South West Coast Path Trustees’ Report and Financial Statements

The Trustees have reviewed the activities of the Charity in the light of the guidance published by the Charity Commission on public benefit. The Trustees are satisfied that the Charity’s activities are for the public benefit. The areas where public benefit is being provided are:

Rame Head, South Cornwall. Credit Anick Graveline

South West Coast Path Trustees’ Report and Financial Statements 29

Financial review

Key Financial Performance Indicators 2024 Annual Report

The Charity receives income from a variety of sources and for 2024 this comprised:

----- Start of picture text -----
Income
Grants & Trusts £ 520,409 57%
Memberships £ 132,334 14%
Donations, Gift Aid and Legacies £ 139,159 15%
Way Makers & Corporate Sponsorship £ 43,128 5%
Shop Sales & other income £ 87,519 9%
Total £ 922,549 100%
----- End of picture text -----

The Charity spent funds on a range of activities and for 2024 this comprised:

----- Start of picture text -----
Expenditure
Charitable Activities Support £ 594,350 58%
Raising Funds £ 79,654 8%
Path Improvements £ 249,571 25%
Memberships £ 43,991 4%
Promotion & Development £ 39,386 4%
Guides & Maps £ 14,110 1%
Total £ 1,021,062 100%
----- End of picture text -----

South West Coast Path Trustees’ Report and Financial Statements

30

Sea pinks and stars - the wonderful thrift under the galactic core on a clear night in May, Hartland Quay, North Devon. Credit Jennifer Rogers

South West Coast Path Trustees’ Report and Financial Statements 31

Investment Policy and Performance

The Charity has a policy of lowrisk investment in financial institutions which offer ethical products. All reserves are placed in interest bearing cash deposits within a variety of accounts, in order to keep within the Financial Services Compensation Scheme limit of £85k. The Finance and HR Committee and Trustees receive regular reports relating to account balances and interest rates.

Going Concern

statements on a going concern basis when, under the going concern assumption, the entity is viewed as continuing in business for the foreseeable future. After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Principal Risks and Uncertainties

The principal risks, based on likelihood and impact, faced by the Charity in 2024 were:

Trustees manage these risks by recording them in a Register and defining a set of activities to reduce, manage or mitigate the risk were it to be realised. Trustees regularly review these activities to ensure the Charity is appropriately prepared.

Reserves Policy

At the year end the Charity had total reserves of £492k which comprise:

The Charity’s reserves policy is intended to ensure the Charity has sufficient unrestricted reserves to meet up to 6 months of our day to day running (“operational”) costs. The level of reserves is reviewed at least twice a year by the Finance and HR Committee and not only reflects the relevant period in the current financial year but also takes into account the pressures on our budget moving forward. The Reserves Policy target was met in 2024.

32 South West Coast Path Trustees’ Report and Financial Statements

Structure, governance and management

Governing Document

The South West Coast Path Association is a Charitable Incorporated Organisation (CIO) governed by its Constitution approved by members on 28th March 2015 and subsequently accepted by the Charity Commission on 4th September 2015. It is registered as a Charity with the Charity Commission.

Method of Appointment or Election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution. Trustees are elected every year by members at the AGM, serving until the following AGM. All Trustees are eligible for reelection each year. The procedure governing this process is set out in the Constitution and Rules. Officers (Chair, Vice Chair, Hon Secretary and Treasurer) are elected by the Trustees at the first meeting of the Board of Trustees following AGM. Members are informed at AGM of the names of those Trustees intending to stand for the Officer positions. A maximum of twelve Trustees are permitted under the current Constitution. Trustees may co-opt additional Trustees between AGMs, so long as the total does not exceed twelve.

Organisational Structure and Decision Making

The Board of Trustees hosts four formal meetings a year at inperson or virtually with occasional conference calls, as required, between meetings. A further two meetings are held to focus upon project delivery with a site visit including relevant staff in the spring, and the second to consider the progress and review of the Business Plan in the autumn. The Board has established and monitors the overall governance of the Charity and determines membership, terms of reference and procedures of committees and other groups. It receives reports and recommendations from its committees for ratification. All Trustees have access to the minutes of committees allowing scrutiny of their discussions and activities. The Board has the power to create Working Groups to perform specific tasks over a limited timescale.

The following decisions are reserved to the Board of Trustees: to consider any proposals for changes to the status or constitution of the Charity and its committee structure, to appoint or remove the Chair and/or Vice Chair, to approve the budget, to approve changes to membership subscription rates.

The Trustees are responsible for setting general policy, adopting a Business Plan and budget, approving the statutory accounts, monitoring Charity performance with the use of budgets and other data, evaluating and mitigating risks, and making major decisions about the direction of the Charity, capital expenditure and resources.

Committees and Working Groups

There are three committees and four working groups:

Path Committee

This is the primary group which looks after operational matters concerned with the Path. It meets four times a year allowing all Trustees to attend as observers. Membership is comprised of the Area Reps, a Rambler’s representative, the National Trail Officer, three Trustees, the Association Director and an independent Chair. One of its main purposes is to review requests and approve the allocation of the Charity’s own resources to projects protecting and promoting the Coast Path. Chaired by Ken Carter.

Finance and Human Resources Committee

This meets at least four times a year and is responsible for all substantial matters of finance including human resources. This includes, but is not limited to, approving funding bids, approving the Charity’s quarterly management accounts, approval of the annual

South West Coast Path Trustees’ Report and Financial Statements 33

budget and the appointment of the Charity’s legal and financial advisers. Finance policies are developed by the Committee and approved by the Board of Trustees whereas finance procedures are owned and maintained by the Committee. Membership includes the Chair, Treasurer, Finance Manager, Director plus at least one other Trustee. Chaired by Kevin Thomas.

Membership and Fundraising Committee

The Membership and Fundraising Committee’s main objectives are to oversee the fundraising and engagement work of the Charity set out in the Business Plan. This includes membership, corporate support, trusts and grants, individual giving, events, trading activity and communications.

Membership of the Committee comprises at least three Trustees and two voting Association staff. Other non-voting staff are co-opted to the Committee. Chaired by Philip Spencer.

Planning Working Group

The Planning Working Group has oversight of planning policy impacting on the Coast Path. In addition, it responds to planning applications, advises on neighbourhood plans and inputs to policy (e.g. Green infrastructure and National Planning Policy Framework). The Group comprises the Chair of the SWCP Trail Partnership, Path Committee Chair, Volunteer Planning Advisers, Association’s Director

Working Group reports to the Path Committee.

Trustee Recruitment Working Group/Interview Panel

The Trustee Recruitment Working Group addresses issues around skills and diversity in membership of the Board. The Working Group comprises three Trustees, one of whom is the Chair or Vice-Chair and the Association’s Director and reports to the Board of Trustees. This Working Group reports to the Board.

Health and Wellbeing Working Group

The Trustee Health and Wellbeing Working Group gives strategic direction to health and wellbeing work across the charity, looking to maximise impact of our

programmes across the Coast Path. The Working Group comprises two Trustees and the Association’s Director, National Trail Officer and Coast Path Connectors Project Manager and reports to the Board. Chaired by David Morris.

Coast Path Centre Working Group

This Working Group was set up to give oversight of the development of a new office, visitor centre and community hub at Royal William Yard, Plymouth. The Working Group comprises three Trustees and the Association’s Director and Head of Comms and reports to the Board. The Working Group will be dissolved following completion and opening of the Coast Path Centre. Chaired by Ken Carter.

Sanctuary West Fleet, Jurassic Coast. Credit Anick Graveline

34 South West Coast Path Trustees’ Report and Financial Statements

Port Isaac, North Cornwall. Credit Abbi Pitt

Key Management

The Board of Trustees have devolved responsibility for day-today management of the Charity to the Director. The Director implements the policies laid down by the Trustees and reports back to them on performance.

The Trustees have approved a Scheme of Delegation between the Trustees and Director. This forms part of the Charity’s Rules and grants the Director latitude to act within the scope of the approved annual or project budget and within the Business Plan. The Business Plan has identified Lead Trustees for specific work items and the Director is authorised to proceed subject to consultation with the Lead Trustees, rather than the full Board. Discretionary spend up to £2,000 on items not in either the annual budget or project budgets is permitted by the Scheme.

Related Party and Other Connected Charities and Organisations

None of our Trustees receive remuneration or other benefit from their work with the Charity. Trustees are required to complete an annual Declaration of Interests as well as to state any conflicts of interest before the start of each Board meeting. Trustees are also required to pass the HMRC “fit and proper” test as the Charity makes claims for tax relief.

South West Coast Path Trustees’ Report and Financial Statements 35

Plans for future periods

Future Developments

Our priority for the Association in 2025 will be to deliver year three of our Business Plan as efficiently and effectively as possible under challenging economic and physical environment conditions. At the time of writing there are some specific programmes of activity we will focus on over 2025, including:

working with government and National Trails UK;

Trenarren, Blackhead, South Cornwall. Credit Catherine Owers

St. Ives, West Cornwall. Credit James Loveridge

36 South West Coast Path Trustees’ Report and Financial Statements

Trustees’ responsibilities statement

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees, on and signed on their behalf by:

Ms H Dinsdale

(Chair of Trustees) Date: 14 May 2025

South West Coast Path Trustees’ Report and Financial Statements 37

----- Start of picture text -----
Overall Winner SWCP POTY James Loveridge, Lyme Regis Cobb, Jurassic Coast
----- End of picture text -----

38 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH WEST COAST PATH ASSOCIATION ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Dated: 20 May 2025 Alison Oliver FCA BISHOP FLEMING LLP Chartered Accountants Chy Nyverow Newham Road Truro Cornwall TR1 2DP

South West Coast Path Trustees’ Report and Financial Statements 39

SOUTH WEST COAST PATH ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Restricted Total Total
funds funds funds funds
2024 2024 2024 2023
Note £ £ £ £
INCOME FROM:
Donations and legacies 4 131,785 7,372 139,157 175,019
Charitable activities 5 182,129 520,409 702,538 649,675
Other trading activities 61,422 - 61,422 73,212
Investments 7 19,432 - 19,432 12,106
TOTAL INCOME 394,768 527,781 922,549 910,012
EXPENDITURE ON:
Raising funds 8 79,655 - 79,655 87,248
Charitable activities 9 352,522 588,885 941,407 879,535
TOTAL EXPENDITURE 432,177 588,885 1,021,062 966,783
NET EXPENDITURE (37,409) (61,104) (98,513) (56,771)
Transfers between funds 18 (57,260) 57,260 - -
NET MOVEMENT IN FUNDS (94,669) (3,844) (98,513) (56,771)
RECONCILIATION OF FUNDS:
Total funds brought forward 536,899 53,487 590,386 647,157
Net movement in funds (94,669) (3,844) (98,513) (56,771)
TOTAL FUNDS CARRIED FORWARD 18 442,230 49,643 491,873 590,386

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 29 to 44 form part of these financial statements.

40 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

BALANCE SHEET AS AT 31 DECEMBER 2024

2024 2023
Note £ £
CURRENT ASSETS
Stocks 13 13,291 8,966
Debtors 14 81,120 76,493
Investments 15 440,920 518,002
Cash at bank and in hand 21 177,587 151,171
712,918 754,632
Creditors: amounts falling due within one
year 16 (210,681) (149,386)
TOTAL ASSETS LESS CURRENT
LIABILITIES 502,237 605,246
Creditors: amounts falling due after more
than one year 17 (10,364) (14,860)
TOTAL NET ASSETS 491,873 590,386
CHARITY FUNDS
Restricted funds 18 49,643 53,487
Unrestricted funds 18 442,230 536,899
TOTAL FUNDS 491,873 590,386

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

H Dinsdale (Chair of Trustees)

Date: 14 May 2025

The notes on pages 29 to 44 form part of these financial statements.

South West Coast Path Trustees’ Report and Financial Statements

41

SOUTH WEST COAST PATH ASSOCIATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Note £ £
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities 20 (70,098) (10,265)
CASH FLOWS FROM INVESTING ACTIVITIES
Increases/(decreases) in cash investments 77,082 (4,972)
Investment income received 19,432 12,106
NET CASH PROVIDED BY INVESTING ACTIVITIES 96,514 7,134
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 26,416 (3,131)
Cash and cash equivalents at the beginning of the year 151,171 154,302
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 21 177,587 151,171

The notes on pages 29 to 44 form part of these financial statements

42 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. GENERAL INFORMATION

South West Coast Path Association is a charitable incorporated organisation, registered in England and Wales (charity number: 1163422). The registered office is Unit 11, Residence 2, Royal William Yard, Plymouth, PL1 3RP.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

South West Coast Path Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Income received for Life Memberships are credited to deferred income and from there recognised as income in 15 equal annual installments.

South West Coast Path Trustees’ Report and Financial Statements 43

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES (continued)

2.3 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 INTEREST RECEIVABLE

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.6 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

44 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

----- Start of picture text -----
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2. 3. ACCOUNTING POLICIES (continued) 2.9 2.10 2.11 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and judgements are continually evaluated and are based on historical experience and othefactors, including expectations of future events that are believed to be reasonable under thcircumstances. Critical accounting estimates and assumptions: The Charity makes estimates and assumptions concerning the future. The resulting accounting estimateand assumptions will, by definition, seldom equal the related actual results. The estimates anassumptions that have a significant risk of causing a material adjustment to the carrying amounts oassets and liabilities within the next financial year are discussed below. Life memberships are deferred over the expected term of the membership. This has been assumed to b15 years. FINANCIAL INSTRUMENTS PENSIONS FUND ACCOUNTING The Charity only has financial assets and financial liabilities of a kind that qualify as basic financiainstruments. Basic financial instruments are initially recognised at transaction value and subsequentmeasured at their settlement value with the exception of bank loans which are subsequentmeasured at amortised cost using the effective interest method. The Charity operates a defined contribution pension scheme and the pension charge represents thamounts payable by the Charity to the fund in respect of the year. General funds are unrestricted funds which are available for use at the discretion of the Trustees ifurtherance of the general objectives of the Charity and which have not been designated for othepurposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particulapurposes. The aim and use of each designated fund is set out in the notes to the financiastatements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed bdonors or which have been raised by the Charity for particular purposes. The costs of raising anadministering such funds are charged against the specific fund. The aim and use of each restrictefund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.
----- End of picture text -----

2. ACCOUNTING POLICIES (continued)

2.9 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Life memberships are deferred over the expected term of the membership. This has been assumed to be 15 years.

South West Coast Path Trustees’ Report and Financial Statements 45

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. INCOME FROM DONATIONS AND LEGACIES

Donations & Gift Aid
Legacies
Donations & Gift Aid
Legacies		 Unrestricted
funds
2024
£
88,947
42,838
131,785
Unrestricted
funds
2023
£
105,613
14,994
120,607		 Restricted
funds
2024
£
7,372
-
7,372
Restricted
funds
2023
£
54,412

-
54,412		 Total
funds
2024
£
96,319
42,838
139,157
Total
funds
2023
£
160,025
14,994
175,019

46 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
funds
2024
£
Membership Subscriptions
132,334
Waymaker Business Memberships
9,787
Sale of Guides & Maps
40,008
Trail Partnership Project
-
CAN Project Grants
-
National Trail Team Grants
-
Natural England Grants
-
Coast Path Connectors Grant
-
182,129
Unrestricted
funds
2023
£
Membership Subscriptions
135,236
Waymaker Business Memberships
8,236
Sale of Guides & Maps
35,037
Trail Partnership Project
-
CAN Project Grants
-
National Trail Team Grants
-
Natural England Grants
-
Coast Path Connectors Grant
-
178,509		 Restricted
funds
2024
£
-
-
-
39,880
-
92,150
250,384
137,995
520,409
Restricted
funds
2023
£
-
-
-
40,990
540
92,150
248,450
89,036
471,166		 Total
funds
2024
£
132,334
9,787
40,008
39,880
-
92,150
250,384
137,995
702,538
Total
funds
2023
£
135,236
8,236
35,037
40,990
540
92,150
248,450
89,036
649,675

South West Coast Path Trustees’ Report and Financial Statements 47

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. INCOME FROM OTHER TRADING ACTIVITIES

Sale of Merchandise
Waymaker Business Sponsorships
Corporate Sponsorships
Misc Income
Sale of Merchandise
Waymaker Business Sponsorships
Corporate Sponsorships
Misc Income		 Unrestricted
funds
2024
£
27,891
12,451
20,890
190
61,422
Unrestricted
funds
2023
£

32,077
10,223
30,404
508
73,212		 Total
funds
2024
£
27,891
12,451
20,890
190
61,422
Total
funds
2023
£
32,077
10,223
30,404
508
73,212

7. INVESTMENT INCOME

Unrestricted Total Total
funds funds funds
2024 2024 2023
£ £ £
Bank Interest 19,432 19,432 12,106

All prior year funds were unrestricted funds.

48 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. EXPENDITURE ON RAISING FUNDS

Cost of Merchandise
Donations and Legacies Costs
Corporate and Waymaker Sponsorship Costs
Staff Costs		 Unrestricted
funds
2024
£
23,426
9,288
13,921
33,020
79,655		 Total
funds
2024
£
23,426
9,288
13,921
33,020
79,655		 Total
funds
2023
£
22,079
8,735
17,838
38,596
87,248

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Promotion, Protection & Improvement of Coast Path
Coast Path Connectors Project
Promotion, Protection & Improvement of Coast Path
Coast Path Connectors Project		 Activities
undertaken
directly
2024
£
344,720
2,337
347,057
Activities
undertaken
directly
2023
£
319,144
2,918
322,062		 Support
costs
2024
£
594,350
-
594,350
Support

costs
2023
£
557,473
-
557,473		 Total
funds
2024
£
939,070
2,337
941,407
Total
funds
2023
£
876,617
2,918
879,535

South West Coast Path Trustees’ Report and Financial Statements 49

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

Staff Salaries & Employer Costs
Professional Fees
Volunteer Expenses
Other Staff Costs
Governance Costs
Premises Costs
Administration Costs
IT Expenses
Accountancy Fees
Irrecoverable VAT		 Total
funds
2024
£
391,299
13,383
25,859
33,413
4,979
29,850
4,505
66,093
4,175
20,794
594,350		 Total
funds
2023
£
388,169
6,275
16,633
29,627
3,661
24,880
2,429
63,310
4,050
18,439
557,473

10. INDEPENDENT EXAMINER'S REMUNERATION

The independent examiner's remuneration amounts to an independent examiner fee of £4,175 (2023 - £4,050).

11. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
352,571
50,436
21,312
424,319		 2023
£
363,682
34,515
28,568
426,765

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Support Staff 12 11

50 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11. STAFF COSTS (CONTINUED)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 1 1

The Charity's volunteers take roles as Trustees, technical experts on one of our Committees or Working Groups or as Area or Local Representatives looking after a specific section of the Path. The latter walk the Path regularly, undertake an annual condition survey and report on any Path matters, they come together as the Path Committee to make important recommendations about projects that may need funding from Association or grant funds.

12. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2023: £Nil).

During the year ended 31 December 2024, expenses totalling £2,419 were reimbursed or paid directly to 6 Trustees (2023: £1,759 to 5 Trustees).

13. STOCKS

2024 2023
£ £
Finished goods and goods for resale 13,291 8,966
14. DEBTORS
2024 2023
£ £
DUE WITHIN ONE YEAR
Trade debtors 3,139 15,987
Other debtors - 5,291
Prepayments and accrued income 77,981 55,215
81,120 76,493
15. CURRENT ASSET INVESTMENTS
2024 2023
£ £
440,920 518,002

Cash investments

South West Coast Path Trustees’ Report and Financial Statements 51

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024 2023
£ £
Trade creditors 65,762 63,159
Other taxation and social security 836 -
Accruals and deferred income 144,083 86,227
210,681 149,386
2024 2023
£ £
Deferred income at 1 January 2024 56,354 64,098
Resources deferred during the year 101,570 56,354
Amounts released from previous periods (56,354) (64,098)
101,570 56,354

At the Balance Sheet date the Charity was holding funds received in advance of £8,345 for sponsorships, £48,220 for memberships and £45,005 for TTP and other grants

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024 2023
£ £
Deferred income 10,364 14,860

Deferred income due after more than 1 year includes amounts relating to income from Lifetime Memberships, which is being released over a period of 15 years straight line.

The aggregate amount of liabilities payable or repayable wholly or in part more than five years after the reporting date is:

2024 2023
£ £
Deferred income - 2,587

52 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Promote and Protect Path
Capacity Building
Legacies
National Trails Alliance
GENERAL FUNDS
General Funds
TOTAL UNRESTRICTED
FUNDS
RESTRICTED FUNDS
Promote and Protect Path
Trail Partnership Project
National Trails Team
Donations
Outreach Projects
Natural England
Coast Path Connectors
TOTAL OF FUNDS		 Balance at 1
January
2024
£
196,434
24,562
100,827
10,894
332,717
204,182
536,899
32,373
-
-
20,808
237
69
-
53,487
590,386
 Transfers
Income
£
Expenditure
£
in/out
£
-
(98,922)
66,167
-
(6,785)
(5,973)
-
(51,647)
-
-
(23)
-
-
(157,377)
60,194
394,768
(274,800)
(117,454)
394,768
(432,177)
(57,260)
7,079
(17,315)
3,012
39,880
(71,505)
31,625
92,149
(108,799)
16,650
7,372
(12,969)
(1,609)
-
(11)
-
243,306
(234,318)
1,609
137,995
(143,968)
5,973
527,781
(588,885)
57,260
922,549
(1,021,062)
-		 Balance at
31
December
2024
£
163,679
11,804
49,180
10,871
235,534
206,696
442,230
25,149
-
-
13,602
226
10,666
-
49,643
491,873

South West Coast Path Trustees’ Report and Financial Statements 53

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. STATEMENT OF FUNDS (CONTINUED)

DESIGNATED FUNDS

Promote & Protect Path - Promotion & protection of the South West Coast Path, at the discretion of the Trustees.

Capacity Building - Match funding for Coast Path experience, to build the capacity and long term benefits of the Charity.

Legacies - Legacies designated for improving the Coast Path experience, to build the capacity and long term benefits of the Charity.

National Trails Alliance - Charity contribution to establish a new CIO (NTUK) promoting the UK National Trails.

RESTRICTED FUNDS

Promote & Protect Path - Improvements to the South West Coast Path, restricted by conditions from the donor or funder.

Trail Partnership Project - Delivery of the Trail Partnership Project, funded by its partners comprising 6 Highways Authorities & The National Trust.

National Trails Team - Hosting the South West Coast Path National Trails Team, funded by a grant from Natural England.

Donations - Specific improvements to the South West Coast Path, funded by donations from Appeals and Memorials.

Outreach Projects - Projects to support equity of access on the Coast Path for disadvantaged adults, funded by Active Devon and N Devon AONB.

Natural England - ECP signage, Coast Path improvements & Volunteer support, funded by grants from Natural England.

Coast Path Connectors - Our flagship project improving equity of access to the path and increasing our volunteer capacity, funded by National Lottery Heritage Fund

54 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED FUNDS
DESIGNATED FUNDS
Promote and Protect Path
Capacity Building
Legacies
National Trails Alliance
GENERAL FUNDS
General Funds
TOTAL UNRESTRICTED
FUNDS
RESTRICTED FUNDS
Promote and Protect Path
Trail Partnership Project
National Trails Team
Donations
Outreach Projects
Natural England
Coast Path Connectors
TOTAL OF FUNDS		 Balance at
1 January
2023
£
192,236
38,952
176,640
13,929
421,757
147,740
569,497
74,673
-
426
2,378
165
18
-
77,660
647,157		 Transfers
Income
£
Expenditure
£
in/out
£
-
(63,420)
67,618
-
(4,100)
(10,290)
-
(75,813)
-
-
(3,035)
-
-
(146,368)
57,328
384,449
(286,864)
(41,143)
384,449
(433,232)
16,185
5,000
(47,939)
639
40,990
(66,018)
25,028
92,150
(95,099)
2,523
44,397
(25,967)
-
540
(468)
-
248,450
(186,894)
(61,505)
94,036
(111,166)
17,130
525,563
(533,551)
(16,185)
910,012
(966,783)
-		 Balance at
31
December
2023
£
196,434
24,562
100,827
10,894
332,717
204,182
536,899
32,373
-
-
20,808
237
69
-
53,487
590,386

South West Coast Path Trustees’ Report and Financial Statements 55

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
Current assets 625,049 87,869 712,918
Creditors due within one year (172,455) (38,226) (210,681)
Creditors due in more than one year (10,364) - (10,364)
TOTAL 442,230 49,643 491,873
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Current assets 672,099 82,533 754,632
Creditors due within one year (122,245) (27,141) (149,386)
Creditors due in more than one year (12,955) (1,905) (14,860)
TOTAL 536,899 53,487 590,386

RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING 20. ACTIVITIES

2024 2023
£ £
Net expenditure for the period (as per Statement of Financial Activities) (98,513) (56,771)
ADJUSTMENTS FOR:
Dividends, interests and rents from investments (19,432) (12,106)
Increase in stocks (4,325) (1,677)
Decrease/(increase) in debtors (4,627) 38,888
Increase in creditors 56,799 21,401
NET CASH USED IN OPERATING ACTIVITIES (70,098) (10,265)

56 South West Coast Path Trustees’ Report and Financial Statements

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

21. ANALYSIS OF CASH AND CASH EQUIVALENTS

2024 2023
£ £
Cash in hand 177,587 151,171

22. ANALYSIS OF CHANGES IN NET DEBT

At 1 At 31
January December
2024 Cash flows 2024
£ £ £
Cash at bank and in hand 151,171 26,416 177,587
Liquid investments 518,002 (77,082) 440,920
669,173 (50,666) 618,507

23. PENSION COMMITMENTS

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £21,312 (2023: £28,568). Contributions totalling £3,567 (2023: 2,633) were payable to the fund at the balance sheet date and are included in creditors.

24. OPERATING LEASE COMMITMENTS

At 31 December 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2024
£
Not later than 1 year
11,723
Later than 1 year and not later than 5 years
-
11,723		 2023
£
30,537
13,439
43,976

25. MEMBERS' LIABILITY

Each member of the Charity undertakes to contribute to the assets of the Charity in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £Nil for the debts and liabilities contracted before he/she ceases to be a member.

57

SOUTH WEST COAST PATH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

26. RELATED PARTY TRANSACTIONS

None of the Trustees receive remuneration or other benefits from their work with the Charity. Trustees are required to complete an annual 'declaration of interests' as well as stating any conflicts of interests before the start of each Board of Trustees meetings. As such, no related party transactions occurred in the year.

27. CONTROLLING PARTY

The ultimate controlling party is the Trustees. No individual member has ultimate control.

South West Coast Path Association Registered charity no: 1163422