Company Registration No. 09644387 Charity Registration No. 1164475 (England and Wale$l THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustèes Peter Holgale (Chairman from 18 JLJIY 2023) James Archer Mark Callingham David Duckill Tobias Faber Norman Heaton (Chairman until deceased 17 July 20231 Company registration number Charity registration number 09644387 1164475 Regi$teTed office 14 Ledborough Lane Beaconsfield Buckinghamshire HP9 2PZ Bu$inès5 addres¥ Bekonscot Model Village and RaIaY 14 Ledborough Lane Bèawnsfield Buckinghamshire HP9 2PZ Audltor CLA Evelyn Partners Limited 22 Wycornbe End B6aconsfield Buckinghamshire HP91NB
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) CONTENTS Pagè Report ol thè Iruslees Independènt audilo¢s report Consolidaled s131emenl ol financial acliwlies 10 Consolid8lèd balance sheet Charity balance sheet 12 Consolidated slalemenl of cash flows 13 Notes lo the finanryal st8lemenls 14-23
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY2024 The TrLJslees (who arè also the directors of The Roland Callingham Foundation) have pleasure in presenting their report together with the consolidated financial slalemenls ol the charity and ils subsidiary for the year ended 31 January 2024 which ale also prepared lo meet the iequiTemenls for 8 directors, report and a¢eounls lor Companies Act purposes. The Trustees and staff at 8ekonseol are very sad to report the death in July 2Q23 of our Chairman, Norman Healon. Nortman had been associated with Bekonscot for mole than 50 years, most of them as Chairman, and his wisdom. wise Counsel ard leadership will be greatly missed by all of those who knew him. The financial statements comply with the Companies Aot 2006, the Charities Act 2011 and the Slal8menl of Reeommended Practice- Accounting and Reporting by Charities {the FRS 102 Charilies SORP). Structure The Rtslad Callingham FoLJndation Ilhe Foundation'l is a private company limited by guarantee without share capital incorporated under UK Company Law on 17 Junè 2015 and reuislared with the Charity Commission on 19 November 2015. In 1928 the late Roland Callingharn commenced development of a plot of land adjoining Ledborough Lane as a model village Ènd railway and in August 1929 the public were allowed to enter on payment ol a small fee. all proceeds being donated lo Gharily. The18nd was gradually developed further and in 1934 The Bekonscot Model Railway & General Charitable Association was formed lo adminislei the operation and disbuise the excess of receipts over expenses to charity. By 1975 it had become clear that a rnoie up lo dale organi5alion was required. The late Mrs ITene Callingham Ilhe widow of the lale Roland Callinghaml transferred the land occupied by the model village lo the original Roland Callingham Foundation by way of a gift in 1978. Bekonscot Limited was then formed to undertake the running of the model village on behalf of IhÉ original Foundation and Church Army, which has supported the model village from its earfiesl days, paying over ils annual piofi15 to thosè registered Charities. On 31 January 2018, following agreement with the Charity Commission, the nel as5e15 and obligations of the original Roland Callingham Foundation were transferred to the Foundation. The Foundation is responsible for the operation and administration of the Bekonscol model village and railway and for all charitable activily undertaken from this site. Ils wholly owned subsidiary, Bekonscol Liwiled, is responsible for the commercial actiwties undertaken at the site and distributes ils available profits annu311y lo the Foundation. Govèmanee and management The Foundation is governed by its Board of Trustees, with two trustees 3150 sanring on the Board of thè group's wholly owned subsidiary company, Bekonscol Limited. Slaff involved in the day lo day operation of the model village are employed jointly by the Foundation and by Bekonseot Limited. Operational decision making for the village is the responsibillly ol thè M8naging Director, who is not a Trustee. He is advised and supported by the Board of Trustees and a Joint Finance & General Purposes Committee. Bekonscot Limited runs the trading activities ol the village such as the shop, tearoom and light railway. It has its own Board of Dire¢lors, advising and supporting the Managing Director. The charilable aclivities of the group are undertaken by the Foundation Ljnder the slral&gic oversight of its own trustee board, with the support of the Managing Director and Ihe trading subsidiary board. Recruitment, indLFCtion and training of Trustees Ori appoinlnent, Trustees are provided with a detailed history of thè Foundation and its predecessors and with previous accounts. They also undertake various di5¢ussions with existing members. Trustees ensurè that they keep themselves up lo date with current mallers affecting charities including charity law requirements, Charity Commission best praelice gLJidance and the Charily Governance Code. Rel?ted parties Bekonscot Limited is the wholly owned trading subsidiary of the Foundation. The financial slaleTllenls therefore indude the wholly owned subsidiary.
THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES {CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Objectives The objeclives of the Foundation are to advan such charitable purposes laccording lo the law of England and Wales) as the Trustees see fit from time to lime for the public benefit, in particular, bul not limited to., The preservation of heritage and the advancement of education by operating and enhanoing the madel wllagÈ created by the late Roland Gallingham at Bekonscol, Buckinghamshire., Advanang religion by making grants to charities registered with the Charily Commission which advan religion., Making grants to charilies local to Beaconsfield and its surrounds as well as supporting Church Army and other bodies favoured by the late Roland CalSinuham and the Trustees. The model village is recognised as the oldest original ol ils kind. It both educales visitors about the history. heritage and ways ol life of England in the 1930s and also prese*ves this experience for future generations. Throughout ils long history, the model village has made significant donations lo the tharilies it 8UPPOrts. Publlc benefit The Trustees have had due regard to the Charily Commission's guidance on public benefit. Of the charitable purposes set out in the Charities Act 2011, the Foundation principally contributes to three areas,. Purpose 4.. The advaneement ol education". Purpose 5.. The advancemeDI of religion", and Purpose 8." The advancement of the art5, culture, heritage or science. Through its prograrnme of grant5 the charity also prorllotes other chaiilable purposes including the ielief of poverty, the advancement of health and community developrnenl. The public benefits of the Foundation are-. the preservation of the first model village in the wodd conlinuou51y open la the public from ils inception the conservation of the model village and railway as heritage assets available for public enjoyment the education of the public in town and village lile in the 1930s and the role of transport in connecting settlements the preservation, enhancement and en¢ouragemenl of eraft skills the rnaking of giants to other charitable organisalions lo advan religion, edUtIon, health and crimmunily projects In its operation of the model village and railway, the charily seeks to minimise harm to the envimnment. Any rnember of the public may.. visit the model village and raibaY when it is open aCsS the educalion cenlre and displays Iherè find out about BekonSl by ac¢esslng the website and viewing photographs, vldeo ¢llps and hislorieal information To verify that these benefits continue lo be delivered, the Foundation seeks feedback from both ils own visitors and frorn Ihe charities it 5UPPOrts. The Foundation encourages and supporis access for people who may otherwise find il diificull lo wsil Bekonscol because of financial or other constrainls. Achievements The Foundation's principal funding sources are the surplus arising from ils operation of the model village and the donated profits of Bekonscot Limited, ils trading subsidiary.
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 Visitor numbèrs for the 2023 season were 130,033 {2022 season 140.4491 as prolonged wet weather had an impact. Thè percentage ol visitors applying gift aid and converting their admission lo a donation which dipped in 2022 continued at this lower Sevel, partly due lo the c051 of liwng pressures. The Trustees are again mosl grateful lo the staff for their commitment lo Bekonscol and their skills in maintaining the model village and railway as a much-loved heritage lourist atlraclion. High Shrunkh2m Junction, the new display building where visitors feel they have shrunk into a Bekonseot model station, was opened by the Rl Hon Michael Portillo on 30 Seplernber 2023 and is much appre¢i81ed by visitors. We were able lo welcome and educate 5,019 12022 5,135} school visitors during the season. The buildings, model scenes and transport connections in the village are an effective medium to communicate the rich heritage of life in the 1930s. In addition 10 school group visits we offered two home educator days and, aid8d by tha Sunflower lanyard scheme, made our sile more welcorning lo visitors with different accessibility nèeds. Thè charitiès supported by the Foundation in 2023124 were.. Churth Army Alexander Dev]ne Chlldren's Hoswce Allrlslon Sd)A Alzheimers UK Anlmal Anliks Ashrnead School PTA Baby Bank 41h Beaconsfield Scouts Beacon5field Uniled ReforEd Church Dags for Good Farnham Common School Frfends Floren Nighlin9ale Hospce GrangeArea Trust Greenfingers Chariiy Happy Days Harrowcarefs Healin9 dogs lorde31 people Hope Church. lleaconsfield Response OxfordshSre Sl Mary &AI S8lnis Church, Beaconsfield Sl Michael's Church, Beaconsfie St Th(]fflas' Church. Beaconsfpeld Scannappeal Sthoolreaders South Bucks Hosplce Spollighl UK Th4mes Hospice EFE Been There In Touch Ukr&lne 10 Chiikm& CIO Betk5. BuGks, Oxon Ihfildlife Trust Bucks Garden Tmsi Kidlingion Good Neighbour Schtrmp Village Preschool, Tyl8rs Green Kl(Ss Space West House Hea Robinson Mus8um Llghlhouse BeaCOnsf1d eelpower ile14ill Centre combe Food Hub combe Youth Acllon CallbreAudlo Cedar Park School PTA Child PerVeMent UK Chiiiern MusicAcademy ChiltÈrn Shaktspèare Corpwany Cl8plon Common 8oys Club Cuizon Centre Marfowopportunity Playorovp PS Stscty One Can Trusl combe Youth for Chrlsl Youth on the rnove. Hackr PepFer Found8Uon Rennie Grove Hosyce Ca In addition, St Teresa's Church and Sl Michael's Churd) in Be8consfield benefit substantially from the amounts paid to them for the use of their car paTks at lirnes when they would othèrwisé be underus8d.
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y2024 Flnanclal review On a consolidated basis the charitable group recorded £1.8 million of income from operating the model vi118ge and r3ilway12023 £1.8 million). Donations lo charities lolalled £106,34312023 £153,129). Nel incoming resources lor the yeai after sll these donations were £152,12612023 £177,386). The trading subsidiary Bekonscot Ltd made a profil of £89,628 for the year 2023124 compared with £117.582 in 20221 23. IM)Ile the 2024 season rnay conlinue to be impacted by the current adverse èconomic environment, the Trustees are satisfied that the operational plans and financial budgets adopted foi the year are SLtfficienl lo ensure the Foundation and its trading subsidiary together remain a going concem for the year ahead and for the foreseeable future. Fundraisirtg One of the Foundation's PTillcipal objectives is lo raise funds by operating the model villagè sa Ihal the SUTpIus generated can be used lo enhance the village and make grants to other charilies. Other donations in the year came from cash collection points by the Wishing Well and Fountain. The Foundation does not fundr3ise by mailing people or by mounting street collections. The Foundation ha5 not received any complaints during the year in relation to fundraising. Grant making pollcy The Foundation's policy on grant making is to identify ch8tities local lo Beaconsfield and ils surrounds as well as supporting Church Aimy and other bodies favoured by the late Roland Callingham and the Truslees. Risk management Trusteès maintain a Risk Register which is regularly reviewed. The principal risks and uncertainties that affect the Foundation each year are prolonged adverse weather affecting vi51tor numbers income generation and Ihe challenges of preseNing the attractiveness of a hèritage model village and ensuring easy aCsS lo our town centre site for our visitors. To lake a¢¢ounl of the key risks outlined above the Trustees and management consider anliclpat8d best and wor51- ase scellarios as part of the budgel-selling process and relain sufficient cash and opeialing reserve5 to remain a going concem through a range of scenarios. The TrLJslees are satisfied that this approach has enabled the rnajor risks lo be idenlilied and appropriate steps taken lor Iheir miligalion, although Il is recognised that systems can only provide reasonable, not absolu16, assurance in this regard.
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Reserves policy Reserves are needed for the following purposes.. The seasonal cash requ1mentS from the end of the main season in October each year through lo when the model village becomes busy again and generates a positive cashflow, usually in the following April, necessilale a reserve eslimaled at £150,000 To provide a buffer in the event of reduced incornè and tts COP8 Wlth thè finanaal consequences of circumstan8 which cannot be insured agaillsl and beaiing in mlnd that the model villagè income is weather dependent. a reserve estimated at £550,000 is needed To provide finance for mitigating longer term risks In ordeT lo meet Ihese requirements tha Trustees plan lo increase reserves out of net Incoming resources, taking into account funds required for the developrnenl programme and annual grants. In the year under review Ihe Trustees have recognised Ihe need lo designate funds of £342,000 lo finance major projects in the current development programme. These comprise both developments within the model village and remodelling the Offi space and staff welfare faalilios. Funds considered freely available al 31 January 2024 amounted to £67e,46012023 £799,981) aftèr iwo large Capital spend projects in the year. These are adequate to cover the buffer required for seasonal iequiremenls and six months of regulai èxpenditure il unforeseen events curtailed the model village's income. The Trustees aim lo allocate sufficient of the FouTTrdalion's nel incorning resources over Ihe longer-lem to meet the full reserves requirement outlined above. Investment policy The Trusteès have determined that funds set aside for longer term strategic plans and resilience reserve5 may be plad in investments that may offer h1ghèr retums than are currently available on cash or near-cash deposits and may help lo mitigate the effects of inflation, with 8n accepl8ble high8r risk, over a longer lime horizon. The Trustees have appointed Inveslec Wealth & Investment Limited lo manage those investments on a discretionary basis. £600,01)O has been invested up to January 2024. with a markel value of £635,690 al year-end. The Foundation wishes lo be a responsible investor. Environmenlal. social and governance (ESGI criteria are a sel of standards for a company's operations that socially conscious investors consider when reviewing their investments. Environmental criteria consider how a company perfoTms as a stewaid of nalure. so1 criteria èxamine how il manages relationships with employees, suppliers. cuslorners and communities where il oper3les. Governan¢e deals with a company's leadership, execulive pay. audits, internal conlrols, and shareholderlmembei rights. The Fovndation's inveslmènl managers are expected to take into account ESG issues in their investment analysis and deasion-making proces5 and engage with Company management wh8re appropriate. Remuneration policy and key management personnel Key management personnel of the Group are considered lo be Ihe Trustees of the Foundation and the Directors of ekonscot Limited, including the Managing Director. The rernuneralion of staff ernployed jointly by the Foundation and Bekon5coI Limited is reviewed annually by Trustees and Ihe Board of Bekonscot Limited and rates of pay are sel taking acco1 of appropriate salary benchmarks, inflation, affordability and government policy on minimum wage.
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES {CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Future plans In the immediate future the focus lor the model village is to provide visitors with an enj(>yable and informative visit, lo evaluate the success of the recently opened new play area, lo continue lo support its benefiGiaries and lo progress the site enhancement plans. A phased programme of works is planned lo enhance vi511or experience and to expand the range of education sessions offered on sile and through external talks. The priorities after thal are extending the light railway and providing new staff facilits'es. workshops and offices. The Trustees aim to continue the close working relationship wllh Church Amiy,. supporting frorn the surplus generated by thé madel village that organisalion's charltable mission, charities local to Beaconsfield and ils surrounds and other charities prioritised by the Trustees. ststemènt of trustees. responsibilities The Trustees. who are also dii8Ctois ol the Foundation for the purposes of company law, are responsible lor preparing the Rèport of the Tiustees and the financial statements in accordance with applicable law and United Kingdom Accoullling Standards (United Kingdom Generally Accepted Accounting Practicel includino FRS 102, the Financial Reporting Standard applicable in the UK and Republic ol Ireland. The law applicable lo tharilies in England & Wales requires the Tiuslees lo prepare financial statements for each financial peiiod which give 8 Iiue and lair view of the slate of the affairs of the charity and the charitable group and of the incoffling resources and application of resources ol the charitable group for that period. In preparing these financial slalemenls. the Trustees are required lo.. select suitable gccounting policies and then apply th8m oonsislently., make judgements and acoounling eslirnales that are Teasonable and prudent., s181e whether applicable UK Accounting Standards have been followed, subjecl to any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going concem basis unless il is inappropriate to presume Ihal the groLJP and charity will ¢onlinue In buslness. The Tiuslees are responsible for keeping adequate accounting records Ihal disdose wilh reasonable accuracy al any lime the financial position ol the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the eharity and hence ft>r taking reasonable steps for Ihe prevention and dèteclion of fraud and other irrègulaiilies. statement of disclosure to auditor So far as the Tiuslees are aware, there is no relevant audit inlorrnalion of which the auditor is unaware. Additionally, the Trustees have taken all the steps that they ought lo have taken lo make themselves aware ol any relevant audit information and to establish ihal the audilor of the company is aware of that information. This report has been prepared in accordance with the provisions applicable lo companies erilitled to the small companies, exemption. Advantage of the exemption from audit under section 477 of the Companies Act 2006 has not been taken. Ouring the year the Charily's auditor Ha00d Hullon Limited transferred its audit registration to CLA Evelyn Partners Limited as part of R reorganisation. This report was approve the Trustees on ..... d signed on their behalf by.. Peter Holgata Trustee
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ROLAND CALLINGHAM FOUNDATION Opinion Vve have audited the financial statements of The Roland Callingham Foundation (the 'parent charitable cornpally'l and its subsidiary Ilhe 'group'l for the yèar ended 31 January 2024 which comprise the Consolidated Slalement of Financial Aclivilies, the Consolidated and Charity Balan Sheels, the Consolidated Statement of Cash Flows and notes to the financial stalemenls, including a surllmary of significant accounting policies. The financial reporting framework that has been applied in their preparalion is applicable law and United Kingdom Aeeounting Standards, including FRS 102 The Financi81 Reporting Slandard applicable in the UK aftd Republic of Iroland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statemEnls'. give 2 true and fair view of the slate of the group's and ol the parent charitable company's affairs as at 31 January 2024 and of the group's incoming resources and application of resources. including ils income and expenditure for the year then ended.. have been properly prepared in accordan¢È with United Kingdotll Gelleially Accepted Accounting Practice., and have been prepared in ac¢ordance with the requirements of the Cornpanies Act 2008 and the Charities Act 2011. Basis for opinion Wè conducted our audit in accordance with International Slandards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibililigs for the audit of the financial slatenients section ol our report. We are independent of the charitable oompany in aocordance with the ethical requirements that 3re relevant to our audit of the financial slalemenls ill the UK, inctuding the FinarTrcial Reporting Council's Elhic31 Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obiained is sufficient and appropriate to provide basis for our opinion. Conclusions relating to going concern In auditing the financial slalemenls, we have concluded that the direclors, use of the going ¢on¢em basls of accounting in the preparation ol the financial stalemenls is appropriate. Based on thè work we have perfoirned. we have not identified any material uncertainties relating lo events or conditions that. individually or collectively, may cast significant doubl on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financ1 slalemenls are authorised for issue. Our responsibilities and tho respon51bilili&s of the dlrectors with respect lo going cOnrn are described in the relev8nl section5 of thi5 report. Other information The Iwslee5 are responsible for the other information. The other information comprises the information included in the annual report, other than the financial slalements and our auditor's report thereon. Our opinion on Ihe financial statements does not cover the other information and. except to the exienl otherwisè explicitly slated in our report, we do not express any form of assurance conclusion thèrétsn. In conneclion with our audit of the financial statements, our responsibility is lo read the other infortllalion and, in doing so, consider whether the olher information is materially incon51Stenl with the financial slalemenls or our knowledge obtained in the audit or olhetwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatemenls, we are required lo determine whelher Ihere is a material misslalement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that f8cl. We have nothing to rèport in this regard. Oplnlons an othèr matters prescribed by the Companies Act 2006 In our opinion, based on the work L)ndertaken in the course of OUT audll., the infoTmalion given in the Iruslees. report for the year foT which the financ4al statements are prepared is consislenl with the financial slalements., and the tru51ee5' report has been prep8re¢J in accordance with applicable legal requirements.
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE ROLAND CALLINGHAM FOUNDATION Matters on which we are required to report by exception In Ihe light of the knowledge and understanding of the group and parent charitablÈ company and its environment obtained in the course ol the audil, we have not identified material mi55lalemen15 in the trustees. report. We have nothing to repotl in respect of the following mallers where the Companies Act 2006 requires us to report to you if, in our opinion.. adoquale accounting records have not been kept by the parent charitable eompany, or returns adequate for our audit have not been reiVed from branches not visited by us", or the financial statements are not in agreement with the accounting records and returns., or cet1ain disclosures of directors, remLJneralion specified by law are not made,. or we have not received all the information and explanations we require lor our audit.. or the Iruslees were not entitled to prepare the financial statements in 8ccordanee with the small c£)rnpanies' regime and lake advantage ol the small companles, exemption in pr9paiillg the trustees. report and from the requirement to prepare a strategic report. Responslbllities of directors As explained more fully in the trustees, responsibilitiès sl#lemenl, the Iruslees (who are also the direclors of the charitable company lor Ihe purpose of company lawl are responsible for the preparation of Ihe financial statements and for being satlsfied that they give a true and fair view, and for such internal control as the trustees delermTn8 is necessary to enable the preparation of financtal statements that are free from material rnisslalemenl, whether due lo fraud or error. In preparing the financial statements, the Iruslees are responsible for assessing the group's and the parent charilable company's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and Ljsing the going concern basis of accounting unless the trustees either intend to liquidat8 the group or the parent chaiitable company OT lo cease operations. or have no realistic altemalive bul lo do so. Auditorfs responsibllltles for thé audlt of the financial statements Our objectives are to oblain reasonable assurance about whether Ihe financial slalemenls as a whale are free from material rnisslalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level ol assurance but is not a guarantee that an audit conducted in aecordance with ISAS IUKI will always dele¢t a material misstalernent when il exists. Misslalemenls can arise from fiaud or error and aré corlsidered material if. individually or in the aggregate, they could reasonably be expeoled to influence the e¢onomic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. oullin8d above, lo delect rnaleiial misstalemenls in respect of irregularities. including fraud. The extent lo which our procedures are capable of detects'ng irregularities, including fraud, is datailed below. Our approach lo idenlrfying and assessing the risks of material misslatemenl in respe¢l ol irregularities. includ5ng fraud and non-compliance with laws and regulations, was as follows." the engagemenl partner ensured that the engagement 1È8m collectively had the appropriate competence, capabilities and skills to identify or recognise non-¢omplignce with applicable laws and regulations.. we identified the laws and regul8lion5 applicable lo the company through discussions with directors and other management, and Iiorn our commercial knowledge and experience of the sector., we fooused on specific laws and regulations which we considered may have a direct mat81ial effed on the Inan¢ial slalemenls or the operations of the company, including the Companies Act 2006, laxalion legislation and dala protection. anli-bribery, employment, environmental and health and safety legislation., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence,. and identified laws and règulations were communicated within Ihe audit team regularly and the team remained alert lo inslan¢es of non-compliance throughout the audit.
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE ROLAND CALLINGHAM FOUNDATION We assessed the susceptibility of the company's finanaal slalemenls to material misstatement, including obtaining an understanding of how fraud might occur. by.. making enquiries of Inanagement ès lo where they ttonsidered there was susceptibility lo IraLJd, their knowledge of actual, suspeoted and alleged fiaud.. considering the internal conliols in place lo mitigate risks of fraud and non-complian with laws and regulations., and To address the risk of fraud through management bias and override of controls. we.. performed analylic31 procedures lo identify any unusual or unexpected relationships., lesled journal enliies lo identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting esllrnales sel out in note 2 were indicative of polenlial bias., and investigated Ihe rationale behind significant c>r unusual transactions. In response lo the risk of irregularities and non-eomplianeè with laws and r6gul8lions, we designed procedures which included, but were not limited to.. agreeing financial stalernenl disclosures lo underlying supporting docurnentalion., reading the minutes of meetings of those charged with governance., enquiring of management as lo aclual and potential litigation and claims., and reviewing correspondence wilh HMRC, relevant regulators and the company's lègal advisors. There are inherent limitations in our audit prOdureS described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-complian. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to ènquiry of the direelors and other management and the inspection of regulatory and legal correspondence, if any. Material misslalemenls that aiise due lo fiaud can be harder to delect than those that arise frorn eiror as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. htlps'.11 www.fic.org.uklaudilorsresponsibilities. This desciiption foims part of our audilorfs report. U$È of our report This report is made solely to the charitable Company's members. as a body, in accordance with Chapter 3 of Part 16 of the Gomp8nies Act 2006. Our audit work has beèn LJnd8rtaken so that wè might slate to the eharilable company's rllembers those mallers we are iequired lo slate lo them in an audiloi's report and foi no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report. or for the opinions we have fomied. Keir Singleton Isènlor Statutory Audltorl For and on behalf of CLA Evelyn Partnèrs Llmlted Date.. Chartered Accountants statutory Auditor 22 Wcombe End Beaconsfield Buckinghamshire HP9 1NB
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 JANUAR Y 2024 Total 2024 Total 2023 Notes Income Donations and legaciès Income Irorn charitable activities Income from trading activities Income from investments 90,177 1.034,378 611,647 30,056 126,557 1,033,523 635,089 9,444 Total Incoma 1.766,258 1.804.613 Expenditure Cosls of raising funds.. Commercial trading operations 1522,0191 1517,5071 Expenditu on charitable aclivilies.. Operation of the Bekonscol Mo(tel Village Grants payable 11,012,941) 1106,3431 1960,3421 1153,1291 Total Expenditure 11.641,3031 11,630,978) Net gain on investment 27,171 3.731 Net incoming resources io 152,126 177,366 Unrèstricted funds brought forward 1.243,277 1,065.911 Unreslrided funds carried forward 17 1,395,403 1,243,277 The statement of financtal activities contains all gains and losses recognised in the year. The notes on pages 14. 23 forrn part of these financial slalemenl5. 10-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET AS AT 31 JANUARY2024 2024 2023 Notes Fixed assets Tangible 8ssel8 Investments 376,943 635,690 270.296 505,179 14 7,012,633 775,475 Current assets Stocks Debtors Cash and cash equivalents 39.200 48.747 461,683 35,000 42,897 609.961 15 549.830 687.858 Creditors: amounts falling due within one year 16 {166.8601 1220.L1561 Net ¢urrent assets 382,770 467,802 Total assèts less eurrent Ilabllltles 1,395,403 1.243.277 Unrestricted funds of the group: GenÈr81 funds Designated funds 17 17 1,053,403 342,000 1.070.277 173,000 Total unrestricted funds 1,395,403 1,243.277 The notes on pages 14- 23 form part of these finanrAal statements. For the year ended 31 January 2024 the exemption from audit under section 477 of the Companies Act 2006 was not taken. The finan¢ial stslemenls have been prepared in accordance with the provistons applicable to groups and companie5 subject lo the small cornpanies, regirne. The financial statements were approved by the boar nd are signed on ils behalf b I trustees an authortsed for distribution on Mark Callingham Trustee eter Hol Trustee ate
THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) CHARITY BALANCE SHEET AS AT31 JANUARY2024 2024 2023 Notes Fixèd assets Tangible assèts Investmenls 12 14 376,943 795.690 270,296 665,179 1,172.633 935,475 Current assets Dèbtors Cash and cash equivalents 1S 48,747 450.707 42.897 478.842 499,454 521.739 Creditors: amounts falling due within one year 16 136e,312) {331.5191 Net current assets 133,142 190,220 Total assets lèss currènt liabllities 1,305,775 1,125,695 Unrestricted funds of the charhty General funds Designated funds 17 17 963,775 342,000 952,695 173,000 Total unrestricted funds 1,305,775 1,125,695 The notas on pages 14- 23 form part of these financial statements. For the year ended 37 January 2024 the exemption from 8udil under se¢lion 477 01 the Companies A¢1 2006 was not taken. The financial slalemenls h8ve been prep8rÈd in accordance with the provisions applicable lo groups and companies subject lo the srnall companies, regime. The financial statements were apprc>ved by the board of trus and are signed on ils behslf by". ees an¢J authorised for distribution on M8ik Callingh8m Trustee Peter Trustee Igate Company Registration No. 09644387 12-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JANUAR Y 2024 2024 2023 Notes Cash flows from op8ratlny activitiès Cash gelleraled from operations 21 93,602 187,955 Net cash inflow from operating activlties 93,602 187,955 Investing activities (Purchase) of tangible fixed assets (Purchasellsale of fixed asset investments Income from inveslrnents 1168,5961 1103,3401 30.056 154.1731 1501.4481 9.444 Net cash loutnowlllnflow from Investing actsvities 1241.880} 1546,1771 Nel decrease in cash and cash equivalents 1148,2781 1358.2221 Cash and ¢a$h equivalents at heginning of year 609.961 968.183 Cash and cash equivalents at end of year 461,683 609,961 The notès on pagè$ 14- 23 fom parl of these finanaal slatemenls. 13-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUAR Y 2024 Accounting policies Company lrtformation The Roland Callingham Foundation I'lhe charity") is a charitable company limited by guarantee domiciled 8nd incorporatèd in England and Wales,. registered office is 14 LedboroLJgh Lane, Bea¢onsfield, Buckinghamshire. HP9 2PZ. The group consists of The Roland Callingham Foundation and ils wholly owned subsidiary Bekonscol Limited (Company Reg, 013383471. 1.1 Accounting convention These financial statements have been prepared in accordance with the requirements of the Cornpanies Act 2006 and the Charities Act 2011. "Accounting and Reporting by Chaiilies.. Slalemenl ol Recommended Practi applicable to charities preparing aecounts in accordan with the Financral Reporting Standard applicable in the UK and Republic ol Ireland I'FRS 1021 second edition. and the UK Generally Accepted Accounting Practice a$11 applies from 1 January 2019. The charity is a public benefit entity for the purpose of FRS 102. The financial statements are prepared in sleiling. which is the ILJnclional currenoy of th& company. Monetary amounts in these financAal 51atemenls are rounded lo the nearest £. The f1nancial statements have been prepared under the historical cost convention, rnodified lo include certain financial inslruments at fair vslue. The piincipal aountIng policies adopted are sel out below. Aftèr reviewing the cornpany's forecasts. the Trustees have a reasonable expeatIon that the company has adequate resources lo continue operating for the foreseeable future 8nd there are no walerial uncertainties about the eharitable group's ability to continue as a going concern. The company therefore continues to adopt the going concern basis in preparing these financial statemenls. 1.2 Basis of consolidation In the parent company financial statements, the cost of a bLJslness ¢ombinalion is the fair value at (he acquisition date of the assets given and liabilities incuried, plus costs directly allributable to the business combination. Investments in subsidiaries are accounted for al cost less impairment. The group financial statements incorporate those of The Roland Callingham Foundallon 8nd af its subsidiary li.e. the entity the group controls through ils power to govèrn the financial and operating policies so as lo obtain economic benefits). All financial statements are made up Éo the year-end. All intra-group transactions, balances and unrealised gains on ITansactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaclion provides evidence of an impairment ol the asset Ilgnsferd. 1.3 Turnover Voltinlary income is received by way of donations 15 included in full in the Statement of Financial Activities when there is legal enlillemenl lo the in¢otne, Pfobabilily of receipt arTd amounts can be measured reliably. Grants received are recognised in the peiiod when the activity 5UPPOrted by the grant takes place. Income from charitable activities represents net entrance fees and fees from filming and markelillg on the Bekonscot sile, and is shown net of VAT. Revenue for entrance fees is regnIsed when the customer enters the Bekonscol Model Village site. ncome from trading aetivilies repre$8nts the receipts of the trading subsidiary from sales ol souvenirs, refreshmenls, light railway rides and 8musetnenls and are recognised when the significant risks and rewards of ownership of Ihe goods h8ve been Iransleired lo Ihe buyer. 14-
THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) .NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 JANUAR Y 2024 Accounting polieiès Icontlntsedl 1.4 RèsourtÈs expended Expenditure is recognised once there is a legal or conslruclive obligation to make 8 paym6nl lo a third party, (t is probable that 5elllemenl will be required and Ihe amount of the obliualion ¢an be measured feliably. Expenditure 15 classified under the following activity headings-. Costs of raising funds comprise thè cos15 of commercial trading including the tearoom, souvenir shop. light railway rides and their associated supporl costs. Expenditure on charilable actiwties indudes costs of operating thè model wllage and educational activities undertaken to lurther the purposes of the chèrity and their 8ssocialed support costs. Support costs are those functions thal assist the work ol the charity bul do not directly undertake charitable aclivilies. Support costs include governan costs which support the charity's aclivilies. The bases on which support C051s have been allocated are sel out in these noles. GTanls are recognised when there is a commitmant lo pay. 1.5 Tanglble fixed assets Tangible fixed assets are initially m6asurèd al ¢osl and subsequently measured al cost or valuation. nel of depreciation and any impaimienl losses. Depreciation is Charged on a straight linè basis over the following number of years, which is intended lo write down ead) asset to ils eslimaled Tesidual value over ils expecled useful life.. Property improvements Plant and equipment Computers Motor vehide5 Up to 20 years straight line Up lo 8 years stiaighl line Up lo 4 ysars sliaight line 4 years slraighl line The gain or loss arising on the disposal of an asset is detèrmined as the difference between the sale proceeds and the carrying value of the asset, and is recognised In the slalemenl of financial activities. The property owned by ltte d)arity is sla16d 81 historic cost on the grounds that il is a functional asset held both by the charity and within the group lo deliver a social benefit through the functioning of the model villaoe whieh occupies the land, rather than to generate an investment return. The elemenl of cost which represents the land is not depreaated. Property improvements are depreciated as outlined above. 1.6 Fixed asset investments Fixed asset investments comprise the interest in Ihe subsidiary and other investments. Other investments are measured at lair value through profil or Ioss, 6xcopI foi those investments that are not publicly traded and whose lair value cannot olhetwisÈ be mÈ8sured reliably, which are recognised at cost less impaimient until 2 reliable measure of fair value becomes available. Thé statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. A subsidiary is an entity controlled by Ihe charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its actiwties. The invesltnenl in the subsidiary is staled at cost less any aceumulzted impairments to dal8. The Investments are assessed for impairment at each reporting date and any Impairment is recoglli5ed immediately in the statement of financAal activities. 1.7 Stocks Stocks are Wdlued at the lower of cosl and net realisable value, net of VAT. 15-
THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JANUAR Y 2024 Accounting policle (Continued) 1.8 Financial instruments The charity ha5 elected to apply Ihe provisions of Section 11 'Bas1c Financial Inslrumenls. lo all of ils financial instTumenls. Financial instruments are reeognised in the charity's balance sheet when ihe charity becomes party to the contractual piovision5 of the inslrumenl. BasiG financial assets Short lefm debtors are measured at Iransaclion price less any provision for impairment. Loans receivable are measured initially at fair value. net of transaction costs and are subsequelllly carried al amortised cost Ljsing the effective inlerest method. less any provision for irnpaimient. Basic finanGial liabililies Short term creditors aio tneasured al transaction pri. Other financial liabilities, includlng bank loans and other loans, are Measured illilially al fair value, net of transaction cos15 and are subsequently carried al amortised cost using the effective inlerest method. 1.9 Employee benefits The costs of short-term employee benefits are recogni5ed as a liability and an expense. Thè eosl of any unused holiday enlillemenl is recognised in the period in which the employee's seNce5 are rÈeeived. Termination benefits are recognised immèdial8ly as an expense when the company is demonstrably commilted lo lefminal@ the employment of an employee or to provide lermination benefits. 1.10 Retirement benefits Payménts lo defined contribution retirement benefit schemes ale charoed as an expense a5 they fall due. 1.11 Leases Rentals payable under operating leases, including any lease incentives received, are charged lo profit or loss on a straight line basis ovar the term of the relevant lease exp1 where another more systematic basis Is more represenlalive of the lirne pattern in which economic benefits from the leased asset aré eorTrsumed. 1.12 Unrestricted funds Unrestricted funds cornprise incoming reSoUrS feeèivable for the objects of the Foundation wilhoul specified purposes and are available as general funds. Imlhin unreslricled funds. designated funds are those funds that the Trustees have chosen Its sel aslde for specific projects. Designated funds may be moved back lo general funds at the Trustees, sole discrelion. Judgements and key sources of estlmation uncertalnty In the application ol the group'5 accounting poli¢ie8, the Trustees are required lo make judgements, @stimates and assumptions about the carrying amount of assets and liabilities Ihal are not readily apparent from other sources. The eslimales and associated assurnptions are based on historical experience and other factors that are ¢onsidered lo be relevant. The Trustees are mindful that regular review ad revision of forecasts will be required and aclual results may difFer from these estimates. The eslimales and underlying assumptions arè reviewed on an ongoing basis. Revisions lo accounting eslimates are recognised in the period in whioh the eslitnale is rewsed where the revision affects only that period, or in thé period of thè revision and future periods where the revision affeds both current and future periods. 16-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Flnanelal performance of the charity The consolidated slalemenl of financial activities includes the results rjf the charity's wholly ¢)wned subsidiary which opera18s the commercial trading operations. The summary financial performance of the charity alone Is.. Total 2024 Total 2023 Income Gift aid donation from stjbsidiary Incorne from investments 1,174,234 117,582 30,058 1,213,282 102,270 9,444 1,321,872 1,324,996 Expenditurè on charilsble a¢livilies 11.168,9631 {1,166,6731 152,909 158,323 Net gainlllossl on investment 27,171 3,731 Nel income 180,080 162,054 Total ILJnds brought fotward 1,125.695 963,641 Total funds carried forward 1.305.775 1,125,695 Income from donations and legacies Total 2024 Total 2023 Donations from visitors and associated Gift Aid Other donations 86.580 3,597 122,258 4,299 Tolal donations and legacies 90,177 126,557 Dr>nations received are all UnstrICted. Income from charitsble activities 2024 2023 Income from admissions and other related income 1,034.378 1,033,523 17-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Income from trading activltles The wholly owned trading subsidi8ry Bekonscol Limited (company nLJmber 013383471 is incorporated in England and Wales and distributes all ils profits to the Found31ion. Bekonscol Limited operates 311 commercial trading operations Carried on at the Bekonscot Model Village. The surnmary finanaal perfomiance of the subsidiary alone is.. 2024 2023 Turnover Cost of sales and adminislralion costs 611,647 {522,0191 635,089 {517,5071 Nel piofil Retained earllings brought forward Amount dislribuled lo the parent charlly 89.628 117,582 1117.5821 117,582 102,270 1102.2701 Retained in subsidiary 89.628 717,582 The assets and liabilities of the subsidiary were.. 2024 2023 Current assets 253,828 I4,0) 280,582 13,000) Total net assets 249.628 277,582 Aggregate share capital and reserves 249.628 277,582 Operation of Bekonscot Model Village Runnlng of Educatio model vlllagè Grant giving Total 2024 Total 2023 Notes Staff costs Activities undertaken directly Govern8n¢e costs Other support Costs 57Q.845 346.136 8.736 53,435 21,856 9,1e2 1,486 594.187 355,298 8,736 54,72Q 566,892 335,741 7,909 49,800 1.285 979,152 32,303 1.486 1.012,941 960,342 18-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 Grants payable Education Arts, culture, & community Rellglon Totsl 2024 Total 2023 Grants payable to Church Army Grants payable lo other institutions 54,593 6,150 54.593 51,750 88,407 64,722 9,200 36,400 9,200 36.400 60.743 106,343 153,129 Allalysis of govemancè and other support costs Support Governane& costs costs 2024 2023 Basls of allocation Staff costs General office costs 42.720 12,000 42,720 13,386 39,840 10,869 Time spent Direct 1,386 Audit fees 7,350 7,350 7,000 DiTe¢l 54,720 8,736 63.456 57,709 10 Net incoming resources for the year 2024 2023 Net incoming resources is slated after charging.. Depreciation of owned tanglble fixed assets Operating lease charges Audit of the financial statements of the group 2nd company Audit of the financial slatem8nls of the company's subsidiary 61,949 3,991 7,350 4,000 46,441 3,992 7.000 8.400 Employees The average monthly number of persons employed by the group during the year was.. 2024 Numbèr 2023 Number Total èmployee5 49 45 19-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 JANUARY2024 11 Employees Icontinuedl Their aggregate remuneration comprised.. Group 2024 Group 2023 Wages and salaries Social secL5ri1y costs Pension costs 758,505 56,197 14,867 722,068 56,4(M 15,066 829,569 793,538 One staff rnember was remunerated between £80.000 - £90.OQk] in the year 12023 - One staff member remunerated belween £80,000- £90,000). Pénsion cost5 comprise defined conl¥ibulion p8nsion p8ym8nls made on bèhalf of various membèrs of staff and on behalf of one director of the Subsidiary. Key rnanagement personnel are considered to be Ihe Trustees of the Foundation and the Directors of Bekonscot Limited. Total employee benefits in respect of the Managing Director. including pension and national insuran¢e contiibutions, amounted lo £87.279 12023 - £81,128). The Trustees and other Directors received no remuneration 12023 - Nill. Three Trustee8 were reimbursed travel exp8ndilure in 2023124 al £1,37312022123~ two al £896). Employees are employed jointly by the Foundation and Bekonscol Limiled. Bekonscot Limited bears the cost related lo staff time spent on Bekonscot Limited activities. 12 Tangible fixed assets Group and Company Land and Plant and buildbng$ machinery etc Total Cost At 1 February 2023 Additions Disposals 199,110 143,854 273.436 24.742 16,6991 472.546 168,596 16.6991 At 31 J8nu3ry 2024 342,4 291,479 634,443 Depreciation and impaimient Al 1 February 2023 Depreciation charged in the year Eliminated in respect of disposals 33,827 23,417 168,423 38,532 16,6991 202,250 61.949 16,8991 Al 31 January 2024 57,244 200,256 257,500 Carrylng amount At 31 January 2024 285,720 91,223 376,943 At 31 January 2023 165,283 105,013 270,296 -20-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2024 13 Subsidiaries Details of the charilvs subsidiary a131 January 2024 are as follows.. Namo of undèrtaklng RÈgi5tererl offlce Naturè of bo51nes$ Class of shares hèkr V. Held Direct B8konscot Limlted England Bnd Wales Operation ofir4ding (kdinary 100.00 Bekonscoi Mod81 Mllage and Raihvay 14 Fixed asset investmenls Group 2024 Charity 2024 2023 2023 Inveslmenl in subsidiary 160,000 1£0.000 Other investments as at 1 February Other investments acquired Other investments divested Other invèstments ievalualion 505,179 170,807 167.4671 27.171 505,179 170.807 167.4671 27.171 501.448 5Q1,448 3,731 3,731 Other investments at 31 January 635,690 505,179 635.890 505,179 Total inveslrnenls al 31 January 635,690 505,179 795,890 865,179 FlxÈd asset investments revalued All other investments are carried al their fair value. These investments are manag&d by Inve5tec and aFe primarily inveslad in collective funds. The legal slructure of these fund5 CAn take various forms. Some of the funds are Investment Trusts which are quoted companies and listed on a stock exchange and therefore valued based on this lisling. Other funds such as Unil TTU51s and Open Ended Investment Companies IOEICS) are priced once per day. Flxed asset investments at fair value compris• Group 2024 Charity 2024 2023 2023 Investments and unit trusts Fixed interest securities Property funds Alternative asset ftJnd8 Cash held wilhin the investment portfolio 373,228 144,578 24,186 73,361 2Q.337 3C6,978 92,637 18.357 68.638 18.569 373,228 144,578 24,186 73,361 20,337 306,978 92,637 18,357 88,638 18,569 635,690 505,179 635,690 505,179 21
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 15 Debtors Group 2024 Charity 2024 2023 2023 Amounts falllng duè wlthln one year.. Trade debtors VAT rÈcoveTable other debtors 400 15,747 32.800 13,229 400 15.747 32.600 13,229 29,668 29,668 48,747 42,897 48.747 42,897 16 Credltors: amounts falling due within one year Group 2024 Charity 2024 2023 2023 Trade uedilors Amounts owed to group undertakings Taxalion and soctal security Other creditors 61.309 53.672 61,309 203,451 14.959 86.592 53,672 114,462 23.751 139,e33 14,959 90,592 23,751 142,633 186,860 220,056 366,311 331.518 17 Analysis of charitable funds A11 February Incoming Resources resources expended Nel gain on investment A131 January Transfers Group lall unrestrictèdl General funds Designated funds 1,Q70,277 1,766,258 {1.641,3031 173,000 27.171 1169,0001 169.000 1,053,403 342,000 Total unrestricted funds 1.243,277 1.766,258 {1.641,3031 27,171 1,395,403 At1 February Incoming Resourcos resources expendad Nel gain on investmènt At31 January Transfers Charlty lall unr•strl¢tèdl General funds Designated funds 952,695 173,000 1,321,872 11,168,963) 27.171 1169,0001 169,000 3,775 342,000 Total unresl¥icted funds 1,125,695 1,321,872 11,188,963) 27.171 1,305,775 Designal8d fund5 represent amounts set aside to finance major capital projects that are planned bul nol yel Committed. The charity does not have any reslricled funds. -22-
THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2024 18 Operating lease commitmènts At the rèporting date the group had outstanding ¢ommilmenls for future minimum lease payments under non- cancell8ble operaling leases. as follows.. Group 2024 Charity 2024 2023 2023 Within one year Between two and five years 2,041 3.946 2,Q41 2.041 3,946 2,041 2,041 5,987 2.041 5,987 19 Capital commitments Al the year end ltte group had nil rapI181 cornmilmenls12023.' £nill. 20 Related party transactions Peter Holgate and James Archer are Trustee5 of the charity and also diredors of Bekonscot Limiled. During the year Bekonscot Limited made a disl¥ibuliorTr of £117.58212023 £102,270) lo the charity and paid £49,679 for intercompany services 12023 £53,202). AI 31 January 2024, the Foundation owed Bekonscot Limited £203.451 12023 - £114.4621. Ouring the period under review. the Trustees received no remuneration 12Q23 Dald Duckitt, a Trustèè tsf the ¢harily, is involved in the management of Church Army. During the year the charity commilled lo make a donation of £54,593 12023 £88,407) to Church Army. At 31 January 2024 the charity owèd Church Army £54.593 12023 - £88,407). Agieemenls with Church Army are approved by other Trustees and by other staff within Church Army lo avoid potential conflicts of interest. Three of the Managing Director's chSldren were employed by the charity at various limes during the year. Their remuneration was 81 the sarne level as other staff performing similar rolès. 21 Cash generated from group opèration$ 2024 2023 Surplus for the year 152,126 177,366 Adjustments foT'. Ilncomel from investments Depreciation and impairm6nt of tangible Iixed assets Nel {gainllloss on investments 130,0561 61,949 127,171) {9.444} 46.441 {3.7311 Movements in working capital". Ilncreaselldecrease in slocJ(s Ilncreasel in debtors IDecxease} in creditors 14,2001 15,8501 153.1961 1.000 (19,4551 {4,2221 Cash generated from operatlons 93,602 187.955 -23-