Company Registration No. 09644387 Charlty Reglstratlon No. 1164475 (England and Wales) THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Peter Holgate (Chairmonl James Archer Mark Callingham David Duckitt Tobias Faber Jeangtle Howse lappoinled 1 October 20241 John Lee {appoinled l Octobèr 2024) Company reglstration number Charity reglstration number 09644387 1164475 Regl$tgred offlce 14 Ledborough Lane Beaconsfield Buckinghamshire HP9 2PZ Business address Bekonscol Model Village and Railway 14 Ledborough Lane Beaconsfield Buckinghamshire HP9 2PZ Auditor S&W Partners Audit Limited 22 Wcombe End Beaconsfield Buckinghamshire HP9 1NB THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) CONTENTS Page Report of the trustees Independent audilorfs report Consolidated statement of financial activtties 10 Consolidated balance sheet 11 Charty balance she8t 12 Consolidated statement of cash flows 13 Notes to the finanoal $tslemenls 14-23 THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY2025 The Trustees Iwho are also the directors of The Roland Callingham Foundalionl have pleasure in presenting thgir report together with the consolidated financial slalemenls of the ¢h8rity and ils subsidiary for the year ended 31 January 2025 vthich are also prepared lo meet the requirements for a directors. report and accounts for Companies Act purposes. The financial slat@menls ctsmply with the Companies Act 2006, the Charits"es Aet 2011 and the Stslemenl of Recommended Practy'ce- Accounting and Reporting by Charities Ilhe FRS 102 Charitie5 SORPI. The Trustees are pleased lo welcome Jeanette Howse and John Lee to the Board of Trustee8. Among the skills they bring to the Board are expertise in tourism, marketing and modelmaking. Structurè The Roland Callingham Foundation Ilhe Foundallon'l Is a private company limlled by guarantee wilhoul share capitsl incorporated under UK Company Law on 17 June 2015 and registered wth the Charity Commission on 19 November 2015. In 1928 the late Roland Callingham commenced development of a plot of land adjoining Ledborough Lane as a model village and railway and in AugLtsl 1929 the public were allowed to enter on payment of a small fee, all proceeds being donated to charity. The land was gradually developed further and in 1934 The Bekonscot Model Railway & General Charitable Association was fomied lo administer the operation and disburse the excess of receipts over expense5 to charity. By 1975 It had become clear that a more up lo dale organisation was required. The late Mrs Irene Callingham {Ihe widow of the late Roland Callinghaml transferred the land occupied by the model village lo the original Roland Callingham Foundation by way of a gift in 1978. Bekonscol Limited was then formed lo undertake the running of the model village on behalf of the original Foundation and Church Army, which has supported the model village from its earfiesl days, paying over ils annual profits lo those registered charitie5. On 31 January 2018, following agreement with the Charity Commission, the net assets and obligations of the original Roland Callingham Foundation were transferred lo the Foundation. The Foundation is responsible for the operation and administration of the Bekonscot model village and railway and for all charitable aclivrty undertaken from this sile. Ils wholly owned subsidiary, Bekonscot Limited, is responsible for the commercial activities undertaken at the site and distributes ils available profft5 annually to the Foundation. Governance and management The Foundation is governed by ils Board of Trustees, with two trustees also semng on the Board of the group's wholly owned subsidiary company, Bekonscol Limited. Staff involved in the day lo day operation of the model village are employed jointly by the Foundation and by 8ekonscot Lirnited. Operational decision making for the village is the responsibility of the Managing Director, who is not a Trustee. He is adviseil and supported by the Board of Trustees and a Joint Finance & General Purposes Committee. Bekonscol Limrted Tuns the trading activities of the village such as the shop, tearoom and light raitway. It has ils own Board of Directors, advising and supporting the Managing Director. The charitable activities of the group are undertaken by the Foundabon under the strategic oversight of its own trustee board, with the support of the Managing Diredor and the trading subsidiary board. Recruitment, indu¢tlon and tralnlng of Trustees On appointment, Trustees are provided with a detsiled history of the Foundation and ils predecessors and with previous accounts. They also undertake various discussions with existing members. Trustees ensure that they keep themselves up lo date wlh Current matters affecting charities including charity law requirements, Charity Commission best Prath'ce guidance and the Charity Governance Code. Rolat&d partles Bekonscot Limited is the wholly owned trading subsidiary of the Foundation. The financial statements therefore include the wholly owned subsidiary. THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 Objectives The objectives of the Foundation are to advance such charitable purposes (according to the law of England and ￿les) as the Trustees see fil from time lo lime for the public benefit. in particular. bul not limited to.. The preservation of heritage and the advancement of education by operating and enhancing the model village created by the late Roland Callingham at Bekonscot, Buckinghamshire., Advancing religion by making grants lo charitros registered with the Charity Commission which advance rgligion., Making grants to charities Ioc811o Beaconsfield and its surrounds as well as supporting Church Am)y and olhei bodies favoured by the late Roland Callingham and the Trustees. The model village 1$ recognised as the oldest original of ils kind. It entèrtains visitors and educate5 them about the history, hgritsge and ways of life of England in the 1930$ and also PfeseNes this experience for fvlure generations. Throughout ils long history, the model village has made significant donations to the charities il supports. Public benellt The Trustees have had due regard to the Charity Commission's guidance on public benefit. Of the charitable purposes set out in the Charities Act 2011, the Foundation principally Conlribules lo three areas", Purpose 4.. The advancement of education, Purpose 5.. The advancement of religion,. and Purpose 8.. The advancement of the arts, culture, heritage or science. ThroLJgh ils programme of grants the charity also promotes other charitsble purposes including the relief of poverty. the advancement of health and community developfnent. The publlc benefits of the Foundation are.. the preseryatson of the first model village in the wotld continuously open to the public from ils inception the conservation of the model village and railway as heritage assets available foi public enjoyrnent the educotion of the public in town and village life in the 1930s and the role of transport in connecting settlements tho pres&rvab'on. enhancement and encouragement of craft skills the making of grants lo other charitable organisalions to advance ￿ligiOn, education, health and community projects In ils operation of the model village and railway, the charity seeks lo minimise harm lo the environment. Any member of the public may.. vl811 the model village and railway when il is open access the education centre and displays there find out about Bekonscol by accessing the website and viewing phologfaphs, video clips and historical information To verfy that these benefits continue lo be delivered, the Foundation seeks feedback from both ils own visitors and from the tharities il supports. The Foundation encourages and supports access for people who may olherwse find il difficutt to visit 8ekonseol because of financial or other constraints. THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 A¢hlavements The Foundation's prinapal funding sources are Ihe surplus arising from f(s operation ol the model vlllage and the donated profits of Bekonscol Limited, ils trading subsidiary. Visitor numbers for the 2024 sgason werg 124,93712023 season 130,033} as both wel weather and Slom Darragh had an adverse impact. The Trustees are most gratefijl to the staff for th￿￿ comrnitrnent to Bekonscol and their skills in maintaining the model village and raI￿vaY as a muclFloved heritage tourist attraction. As well as maintaining and proleeting its current models. the Foundation continues to add new models and to enhance facilities as it approaches ils centenary year In 2029. We were able lo welcome and educate 6.60412023 5.0191 school visitors during the season, a notable increase. The buildings, model scenes and transport connections in the village are an effeclive medium to communicate the rich heritage of life in the 1930s. In addition lo school group visits we offered home educator days and, aided by the Sunflower lanyard scheme, continue to make our sile more welcoming lo visitors with different accessibility needs. The charits.es supported by the Foundation in 2024125 were.. ChufchAmiy Abbeyr￿Id Socwty Beaconsfield A￿lon 4 Youth Age Conr*m Loudwaler Alexander Devlne Hosplce Baby Bank Beawn5field URC Hott5pur Beaconsfield URC Old Town 8een There Curzon Centre Dog5 for Good Floren¢* Nohtingalè Ho$pl¢e Friends of Affnslon School Oxford Chihlrens H05ptsI Charity pa￿ Centre Pepper Foundation Rennie Grove Hospice Care Scannappeal South BudK$ Hospice Spark￿5 Children Spinal Injur*s AS5O￿a￿On St Michael &AI Saints Church. Bea¢on$f*ltl Grang8AF?a Trust Greonfingers Charty Haddenharn St Mary PTA Hearing Do9s for deaf peop Helen & Douglas House EkF 8uths Hospitals- Paediatrics Bucks VFK)n Ca11breAud Cedar Parf¢ School PTA Chesharn CommuntyAs50cig1ion Chikl Bereavement UK Chiiiern Child Contact Ctntre Chittern Mu$icAcAd8my CilizensAdvice 8ud(inghamsh Cre$sex Cornrnunity School Fund Holtspur Senior Ciliien5 Hope Church Beaconsfiekl J8nnies Chmren Trust Juniper School PTA Kidlington Informatitsn Cènt Lindengate Mental Hea Kingshill Baptist Church MPS Society National P8ratyrnpic Heritage Trust One Can Trust Sl Thom35 Church Holtspur Thames Hosp￿8 Thamas ValleyAdventure PLgyground Tran5forrning Aulisrn v￿eelpoWe[ Sports Assoc*tion Vlfishing Well Woodrow H¥h House cornbe EnwironTTEnlal Centre VWGoTrbe Fo￿1 Hub combe Youth for Christ In addition, St Teresa's Churth and Sl Michael's ChLbrch in Beaconsfield benefit substantially from the amounts paid to them for the use of their car parks al limes when they would otherwise be underused. THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES (CONTINUED FOR THE YEAR ENDED 31 JANUARY2025 Flnanclal rgvlew On a consolidated basis the charitsble group recorded £1.8 million of income from op&raling the model villa9e and railway 12024 £1.8 million). Donations to charities tolalled £81.408 (2024 £106.3431. Net incoming resources for the year after all these donations were £135,38812024 £152.126I. The trading subsidiary Bekonscot Ltd made a profit of £75.114 for 2024125 compared with £89,628 in 2023124. While the 2025 season was impacted by adverse weather, the Trustee$ are satisfied that the operational plans and financial budggts adopted are sufficient lo ensure the Foundation and its trading subsidiary together Temain a going onceTn for the year ahead and for the loreseeable future. Fundral$lng One of the Foundation's principal objectives is lo raise funds by operating the model village 50 that the surplus generated can be used to enhance the village and make grants lo other charities. Other donation5 in the year came from cash collection points by the Wishing Well and Fountain. The Foundation does not fundraise by mailing people or by mounting street collections. The Foundation has not received any complaints during the year in relation to fundraising. Grnnt maklng pollcy The Foundation's policy on grant making is to Identify charities local to Beaconsfield and ils surrounds as wdl a5 supporting Church ATMY and other bodies favoured by the late Roland Callingham and the Trustees. Risk mana9om8nt Trustees maintain a Risk Register which is Tegularly Teviewed. The principal risks and uncertainties that affect the Foundation each year are prolonged adverse weather affeth'ng visitor numbers and incorne generation and the challenges of preserving the attractiveness of a heritage model village and ensuring easy access to our town centre sile for our visitors. To lake account of the key risks outlined above the Twslees and management consider anticipated best and worst- case scenarios as part of the budgel-setting process and retain sufficient cash and operaling reserves lo remain a going concem through a range of scenarios. The Trustees are satisfied that this approach has enabled the major ri5k5 to be identified and appropriate steps taken for their mib'galion, although rf( is recognised that systems can only provi(fe reasonable. not absolute, assurance in this regard. THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES {CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 R¥$ervo5 policy Reserves are need&d for the following purposes.. The seasonal cash requirements 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 followng April, necessilale a reserye eslimaled al £150,OOQ To provide a bufler in the event of reduced income and to cope with the financial consequences of circumstsnces which cannot be insured against and bearing in mind that the model village income 1s weather dependent, a reserve eslimaled al £550,000 is needed To provide finance for mitigating longer term risks Funds considered freely available at 31 January 2025 amounted lo £760.00012024 £676.4601. These are adequate lo cover the buffer required for seasonal requirements and six months of regular expenditure if unforeseen events curtailed the model village's income. In addition, the Trustee5 have recognised the need to designate ftjnds of £202,000 to finance major projects within the development programme. These comprise both historic developments wlhin the model village and remodelling the office space and staff welfare facilities. The Trustees aim to 8llo¢ale sufficient of the Foundation's nel incoming resources over the longer-term to meet the reserves required lo support future develr)pments as opportunits.es arise. Investment polScy The Trustees have determined that funds set aside for longer term strategic plans and resili&nc& reserves may be placed in Investments that may offer higher retum5 than are currently available on cash or ftear-cash deposits and may help lo mi119ale the effects of inflation, with an acceptable higher r18k, over a longer lime horizon. The Trustees have appointed ari investment specialist lo manage those investments on a discretionary basis. £700,000 has been invested up lo January 2025, with a market value of £811,096 al year-end. The Foundation wshes 19 be a responsible investor. EnviTonmenlal, social and govemance IESGI criteria are a sel of standards for a company's operations that socially conscious investors consider when reviewing their inveslmenls. Environmentsl criteria consider how a company performs as a steward of nature. Social crileiia examine how il manages ielalionships with employees, suppliers, customers and communities where il operates. Governance deals with a company's leadèrship. executive pay. audits, internal controls, and 5hareholderlmember rights. The Foundation's investment managers are expected to take into account ESG issues in their Investment analysis and decision-making process and engage with company management where appropriate. Remuneratlon pollcy and key management personnel Key management personnel of the Group are wnsidered lo be the Trustees of the Foundatson and the Directors of Bekonscol Limrted, including the Managing Director. The remuneration of staff employed jointly by the Foundation and Bekonscot Limited is feviewed annually by Trustees and the Board ol Bekonscol Limiled and rate5 of pay are set taking account 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 JANUARY2025 Future plans In the immediate fulLJre the foeus for the model village is lo provide visitors wlh an enjoyable and infomalive visit. lo extend the light raifway in the area previously occupied by the water blaster and picnic area, to continue to support ils benefiaaries and lo progress the site enhancement plans. A phased programme of works is planned to enhance vlsltor experience and to expand the range of education sessions offered on site and through exiemal talks. The Tru5tee5 aim lo continue the close working relationship with Church Anny.. supporting from the surplus generated by the model village that organisalion's ¢harilable mission, eharilies local to Beaconsfield and ils surirJunds and other charities priorilised by the Trustees. Statement of trustees. responslbllltles The TTUStees. who are also directors of the Foundation for the purposes of company law, afe responsible for preparing the Report of the Trustees and the financial slalements in accordance with applicable law and United Kingdom A¢¢ounting Standards Iuniled Kingdom Generally Accepted Accounting Pra¢licel including FRS 102, the Financial Reportin9 Standard applicable in the UK and Republic of Ireland. The law applicable lo char(£ies in England & Wales requires the Trustees lo pffepa￿ financial statements for each financial period which give a true and fair view of the state ot the affairs of the charity and the ¢harilable group and of the incoming resources and application of resourcgs ol the charitable group for that period. In preparing these financial statements, the Trustees are required to.. select Suitable accounting poliues and then apply them consislenlly. make judgements and accounting eslimales that are reasonable and prud&nl'. stste whether applicable UK Accounting Standard5 have been followed, su4.ed lo any material departures disclosed and explained in the financial slalements", prepare the financial statements on the going concern basis unless il is inappropriate to presume that the group and charity will continue in business. Truslegs are responsible for keeping adequate accounting records that disclose w"r(h ￿asOnab￿ accuracy al any lime the financial position of the charity and enable them lo ensure that the financial statements comply wlh the Companies Act 2006. 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. statement of dlsclosure to audltor So far as the Trustees are aware, there is no relevant audit infofmalion of which the auditor is unawaie. Addiliona51y, the Trustees hav& taken all the steps that they ought lo have taken lo make themselves aware of any relevant audit infomiation and lo establish that the auditor of the company is aware of that information. This report has been prepared in accordance with the provisions 8ppli¢able to companies entitled lo the small cornpanies, exemption. Advantage of the exemption from audft under section 477 of the Companies Act 2006 has not been taken. During the year the Charity's auditor CLA Evelyn Partners Limited transferred ils audit regislratlon to S&W Partners Audit Limited as part of a reorganisation. This report was appr dbylh ruslees on 5 June 2025 and signed on their behalf by.. Peter Holgale Tnjslee THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE ROLAND CALLINGHAM FOUNDATION Oplnlon We have audited the financial statements of The Roland Callingham Foundation Ilhe 'pafent charftable company'l and its subsidiary (the 'group'l for the year ended 31 January 2025 which comprise the Con501idaled Slalemenl of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5. including FRS 102 The Financial Reporting Standard applicable in the UK 8nd Republic of Ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion the finanaal slalements.. give a true and fair view of the slate of the grDUP'S and of the parent charitable company's affairs as a131 January 2025 and of the group's incoming resources and opplicalion of resources, including ils income and expenditure for the year then ended., have been properly prepared in accordance wth Unitgd Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wth the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We conducted our audit in accordanee with Inlernalitsnal Standards on Auditing IUKI IISAS {UKI) and applicable law. Our re5ponsibililies under those Standards are further described in the Audilols responsibAlilies for the audit of the financial statements section of our report. Vve are independent of the charitable company in a¢¢ordan¢e with the ethical requirements that are relevant to our audit of the financlal slalements in the UK, including the Financi Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial slalements. we have conduded that the directors, use of the going concern ba51$ of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not id•nlif19d any material uncertainties relating to events OT conditions that, individually or collectively, may ¢asl significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least fyvelve months from when the financial slalemenls are authorised for issue. Our responsibilities and the responsibilities of the dirgctors with respect to going corkcem are described in the Televanl sections of this report. Other Informallon The Iruslees are responsible for the other informatson. The other information comprises the information included in the annual report, other than the financial statements and our aud¢tor's report Ihereon. Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise explicitly Stated in our report, we do not express any fonr of assurance conclusion Ihereon. In connectlon with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is rnaterially inconsislenl wth the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misslalement in the financial stalemenls or material misslalemenl of the other inlomalion. If, basod on th6 work we have performed, we conclude that there 1$ a material misslatemenl of this other infomialion, we are required lo report that fad. We have nothing to report in this ￿gard. Opinlons on other matters pres¢rlbed by the Companle$ A¢t 2006 In our opinion. based on the work undertaken in the course of our audit.. the information given in the Iwslees. report for the year f¢x which Ihg financial statements are prepared is ¢onsislenl with the financial statements", and the trustees, report has been prepare(I In accordance wth applicable legal requirements. THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE MEMBERS OF THE ROLAND CALLINGHAM FOUNDATION Matters on which we are required to report by exceptlon In the light of the kno¥Medge and understanding of the group and parent charitable company and Its environment obtained in the course of the audit, we have not identified malgrial misslalements in the trustees, report. We have nothing lo report in respect of the following matters where the Companies Act 2006 rèqulres us lo report to you if, in our opinion.. adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us., or the financial stslements are not in agreement wth the accounting records and returns., OT certain disdosures of directors. remuneration specified by law are not madg., or we have not received all the information and explanations we require for our audit., or the Irusle&s were not entitled lo prepare the financial slalemenls in a¢¢ordance with the small companies, regime and lake advantage of the small companies, exemption in preparing the trustees, report and Irom the requirement to prepare a strategie report. Responsibilities of directors As explained mole fully in the trustees, responsibilities statement. the trustee5 (who are also the directors of the charitable company for the purpose of company lawl are responsible for the preparation of the financial slalements and for being sa115fied that they give a true and fair view. and for such internal eontrol as the trustees determine is necessary to enable the preparation of financial slalements that are free from m81erial misstslemenl, whether due to fraud or error. In preparing the financial stalemenls, the Iruslees are responsible for a55essing the group's and the parent charitsble company's ability to continue as a going concem, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the group or the parent charitable company or lo cease operations, or have no realistic allernaliv8 but lo do $0. Auditorfs responsibilities for the audlt of the financlal $tstements Our objectives are to obtain reasonable assurance about whether the financial slalements as a whole are free from maleTial misslalemenl, whether due lo fraud or error, and to Issue an audilols report that inclLJdes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conduclgd in accordance th ISA$ IUKI wll always detect a material misstatement when il exists. Mi5s1atements can arise from fraud or error and are considered material if. indiwdually or in the aggregate, they could reasonably be expeclod to infiuence the economic decisions of users taken on the basis of these financial statements. Irregularities, induding fraud, are instances of non-compliance wth laws and regulations. We de￿gn procedure5 in line with our responsibilities, outlined above. to detect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. Our approath to identifying and assessing the risks of material misslatgment in respect of irregularities, including fraud and non-compliance with law5 and regulations. was as follows.. the engagement partner ensured that the engagement team colledively had the apprtspriale eompelenee, capabilities and skills lo identify or recognise non-complian￿ with applicable laws and regulations", we identified the laws and regulations applicable to the company through discussions with directors and other rnanagement. and from our commercial knowledge and experience of the sector., we focused on specific laws and regulatsons which we considered rnay have a direct material effect on the rinancial statements or the operations of the company. including the Companie5 Act 2006, taxation legislation and data protection, anti-bribery, employment. environmental and health and safety legislation., we assessed the extent of ctsmpliance with the laws and regulations identified above through making enquiiies of management and inspecting legal correspondence,. and identified laws and regulations were etsmmunicated within the audit team regularly and the team rem8ined alert to instances of non £87,529 12024 - £87,279). The Trustees and other Directors recewed no remuneration 12024 - Nil). Three Trustees were reimbursed travel expenditure in 2024125 at £1,290 {2023124 - three al £1,373). Employees are employed jointly by the Foundation and Bekonscol Limited. Bekonscot Limited bears the cost related lo staff limo spent on Bekons¢ol Limited adivilies. 12 Tangible fixed ass¢ts Group and Company Land and Plant and buildlngs machinery etc Total Cost At 1 February 2024 Addibons Disposals 342,964 8,153 291,479 27,132 {22.1831 634,443 35,285 122,1831 At 31 January 2025 351.117 296,428 647,545 Depreclatlon and Impalmient Al 1 February 2024 Depreciatron charged in the year Eliminated in respect of disposals 57,244 24,648 200,256 32,962 {22,1831 257,500 57,610 122,1831 At 31 January 2025 81,892 211,035 292,927 Carrying amount Al 31 January 2025 269,225 85,393 354,618 Al 31 January 2024 285,720 91,223 376,943 -20- THE ROLAND CALLINGHAM FOUNDATION {A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 13 Sub$ldlarl8s Details of the ¢haTity's subsidiary at 31 January 2025 are as follows.. Narne of undertaking Reglst8r8d office Nature of business Class of shares hokl % Held Dirett Bel(onscot Limitsd Englantl and Wale$ Opera￿-on of trading activrties foi the Bekonscot Model Village and Rai￿aY Ordinary 100.00 14 Fixed asset investmgnts Group 2025 Charlty 2025 2024 2024 Investment in subsidiary 160,000 160,000 Other investments as al 1 February Other investments acquired Other investments divested Other investments revaluation 635,690 249.734 1145,775) 71,447 505,179 170,807 167,4871 27,171 835,690 249,734 1145,7751 71,447 505,179 170,807 IS7,467} 27,171 Other investments at 31 January 811,096 835,690 811,096 635,690 Total investments al 31 January 811,096 635.690 971,096 795.890 Flxed asset Investments revalued All other inve5trnenls are carried al their fair value. These investments are externally managed and are primarily invested in collective funds. The legal structure of these funds 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 listing. Other funds such as Unil Twsls and Op¢n Ended Investment Companies IOEICsl are prieed once per day. Fixed asset Investments at fair value comprise Group 2026 Charity 2025 2024 2024 Inveslmer*ls and unil trusts Fixed interest securities Property funds Alternative asset bJnds Cash held within the investment portfolio 525,982 167,183 13,838 86,241 17.872 373,228 144,578 24,186 73.361 20.337 525,962 167,183 13.838 86.241 17.872 373,228 144,578 24,186 73,361 20.337 811,096 635.690 811,096 635.690 21 THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 15 Debtors Group 2025 Charlty 2025 2024 2024 Amounts falllng due wlthln ong year: Trade debtors VAT recoverable Other debtors 400 15,747 32,800 400 15.747 32.600 4.565 45.727 4,585 45,727 50.292 48,747 50,292 48,747 16 Credltors: amounts falllng duo wlthln one year Group 2025 Charlty 2025 2024 2024 Trade creditors Amounts owed lo group undertakings Taxation and social security Other creditors 42.668 61,309 42,668 183,742 17,034 61,862 61,309 203,452 14,959 86.592 17.034 65.862 14,959 90,592 125,564 166,860 305,306 366.312 17 Analysls of charltable funds At1 February Incoming Resources resources expended Net gain on invgstmfrnt A131 January Transfers Group {all unrestricted) General fund5 Desgnaled funds 1.053,403 1.753,879 11,689,938) 342.000 71,447 140,000 (140,0001 1,328,791 202,000 Total unrestricted nds 1,395.403 1,753,879 11.689,9381 71,447 1,530,791 At1 February Incorning Resources resources expended Net gain on investment A131 January Transfers Charlty {all unrgstrlct8d) General funds Designated funds 963,775 1.277,862 {1,199,4071 342,000 71,447 140,000 {140.0001 1,253.677 202,000 Total unrestricted funds 1,305.775 1,277.862 11,199,407) 71.447 1,455,677 Designated funds represent amounts $91 aside to finan￿ major caplal projects including those planned bjt not yel committed. The Charity does not have any restricted funds. -22- THE ROLAND CALLINGHAM FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2025 18 Operatlng lease commltments Al the repo￿.ng dale the group had ou15tsnding commitments for future minimum lease payments under non- cancellable operatsng leases. as follows". Group 2025 Charlty 2025 2024 2024 thin one year Befvjeen ￿ and five years 4,044 5.175 2,041 4.044 5.175 2,041 9,219 2,041 9,219 2,041 19 Capital commitments At the year end the group had capital commftmenls of £7.16912024 - £nill. 20 Related party transa¢tlon$ Peter Holgale and James Archer are Trustees of the charity and also directors of Bekonscol Limited. During the year Bekonsctsl Limited made a distribution of £89,62812024 - £117,5821 lo the eharily and paid £48.484 for intercompany service5 12024 - £49,679). Al 31 January 2025, the Foundation owed Bekonscol Limited £183.742 {2024 - £203,452). During the period under review, the Trustees received no remuneration12024 - £nil). David Duckitt, a Trustee of the charity, Is invotved in the management of Church Amiy. During the year the charity commiited lo make a donation of £35,128 {2024 £54,593) lo Church Army. Al 31 January 2025 the charity owed Church Amy £35,128 12024 - £54.5931. Agreement5 with Church ￿mY are approved by other Trustees and by other staff within Church Army lo avoid potential conflicts of interest. Two of the Managiro DiTeclor'$ children were employèd by the charity during the year. Their ￿muneratIon was al the same level as other staff performing similar roles. 21 Cash generated from group operatlon$ 202S 2024 Profil for the year after lax 135.388 152,126 Adjustmènts for: Investment inwme Depreciation and impaimient of tangible fixed assets Other gain5 and lossgs 130.9911 57,610 171.4471 130,0561 61.949 127,1711 Movements in working capital- Decreasellincreasel in stocks Increase in debtors Decrease in creditors 2.200 11,5451 141,2961 14.2001 15,8501 153,1961 Cash generated from operations 49.919 93,602 -23-