K•swlck Mounlaln Rescuè Te•m Report of Thwtees and Flnanclal Ststemonts fortho year ended 31 O¢tober 2023 Keswick ACCOUNTANTS
Koswick Mountain A•scue Team Indèx to the Flnanclal siaiemenis for the year ended 31 October 2023 Pago Charity Inlormalion TTuslees' Rewrt Indep8181 Examinefs Rep)rt Slal&ment of Financial AGtivities Slalement of Financial Aclrviknes Comparative Balance Sheet Notos to iho Financial Stalemerrts
Keswick Mountain Aescu• Team Charlty Infomiatlon lor the ytsr èndéd 31 October 20YJ Trt$ Jame5 Lamb Chrisloph8r Higgins Fiona Boyte John Hunslon Paul While Pe18r Utue Princiyl and Rtylst•rad Offlce KMRT H8adquarters Lake&de Cark Park KeSk Cumbria CA12 5DJ Charlty Number 1165345 Indgwdont Examinor Faye Armstrong FCA Dodd & Co Ltd 15 RosehLY Cadisle knveBtment thlvl8ors Br8wn Dolphin Securities Ltd 4th Floor. 10 Wellington Pla¢e LS14AN Page J
Keswi¢k Mountain 118scuo Ttsm Réport ol the Trustegs lor the year ended 31 O¢tober 2023 The aceLsunts (financial statements} have been piepared in attordance Imth the SlatenI ol Recommended Pract[". Accounting and ReFKJrtlng by Chartties preparing their accounts in acrxjrdance with the Fanci Reporting Standard akylatile in Ihg UK and Repubh"c of IrelaThJ IFRS 102) and the Financial ReFQrting Standard applicab in the United Kingdom and RepubliG ol Ireland IFRS 1021 and the Chath"es Act 2011 a1 UK Generally Accepted Practice as it awAies from I January 2019. Governlng Document The charity is a Charitsble Incorwrated (Trganisations ICIOI arKI is wvgm8d by a Constilulion. Recrultment and Appolntment ol Trustees The only bady the power Iwithin the tefm5 01 Ihe ConslilL6tion} to appo¥il a Tle0 Is the membership ot the Charity. The Charity Truslees we appointed al each Annual General Meeting, and hold office until thè loltowing Annual Genral M8•1ing. Tho Truste8s musl be members of the Charity and are made up of a Chatrparson. Secretary. Tfeastjrer. Team Leader al hvo others Ected from the general m8nl)ership. There is no bar on a Twsiee standing lor oftke lor successive terms. Candidates lor positi¢)ns conferring trust¢eship musl bè nominated in Writing to Ihe Secretary nol less than 21 days pr to the Annual General eting. and notrfied to Ihg m8rthrshp rM)t L8ss than 14 days prlor thereto. Volino is conducted by a sec1 balloL Structur¢ The running of the Cthwity is cwers8en by thg Twslees, but all members arg involved in deusion making processes. lndlwd( Membe are appointed to take specAfic responsibility for a number of areas in the operaiion ol Ihe leam. These include managing the equipmonl, the vehicles and the base building. and also th¢ annual training kyogramme lor team members. The Gharily has a selection process allows anyone tiving in the area interested in joining lo apply loi membership. They arg then assessed ov8r a numb8T ol months 01# being taken on as prrtjationary m8mbèis rf they are assessed as having the fw£ssary skill seL After a ytar as a probatner. lull mertwship is granted, subject lo the approval ot all tUent ment>ers. The main obiects of th8 Charity {as sat out in Cn$ttilt1on} are lo be for the ptjblc b8nefit. to reliove suffering and distre55 arising Ihereon, amng persons and animais erangered by accident or natuial hazaNls anywhere and particularty on the mountains ol Cumbria in the vlcinty ol Ke8wick'. Aetlvttles The Charity meets ils ofy'eotives by having a tsam of suitably Irained aNI qu11 menl)ers aVlable to ty) on call OLrts lo inudents. Achlevement$ and Pgrformanc• The team has attended 104 reswes in the ealendaryear. which represents a reduction on the previous two years- 124 lasi year and 126 in 2021 ~ arKI back lo a mole normal total from before the parKlemi¢. Howevor. al Iho end ol thg summer wg Wgfe heading for a much higher total, and a very quiet autumn and earty winter have given us a bit ol lIeserVed rest. Four of these rescues were fatalities. unlortunately. The team has enjoyed some earty wrynter trainiThJ in SwrtZ8rland, whlle ealer in the y8ar they had another winter training th'p lo Norrdy. In May visited Skye agaln to gain experience of some inv$s1¥e rod(I This year has seen Ihe rement of Matcolm hffiner. who has been wlh the team Ity 53 years. He has served as Chairman and in more recent times been in charge of looking aft8r our co1*tn boxe
K•swld( Moyntsin RM¢uo Toam Report ol the Trust. ¢onld. trtite y•4r ondad 31 oCber 2tr23 Flnonclal R•vlow th8 year the tttam had total irthm& o12319,670121Y22- £711.4491 and •xpdIre ot £263,20012022 - g220.9891 resultirlg in net irne lor the charlly 01 £56.47012W- £490,460) tetore revalualion ol investsnerrts. In addthon to incom8 and gxpen(¢iture, trfr w8re utV8alised losse$ ¢)n the Ihe investmonts by £1,634120& - loss £150,393). The closlng roservgs * 31 2023 Ere £2.895.$8212022- £2,840,748). This is made up of £8.720 01 restn'cted fosgrvos. £2.344,735 01 designated fvnds and £542.127 of unrestricled r¢$erves. which L8 also the free reseNes. Invegfmert Pollcy The Charity provides a vital emergery setvlce that requires certwnty of funding. The Chaity Twsiees have, htoricatly, adopted a rtsk-avor88 8PFyoach to inve5tm8nl. The strat8gy Is io safeguard suifiuent Imaukl lurhgs to ¢over slK)rt term operational needs in iwiWing society aixx)unts. making use of highor yiokling liry¥18d at£8ss a¢o)unts whoro aWfOFxiatg. In th1$ way thè c•ial b 8euJre and the Intoresl hvjmo Is maxlm16&J. CoMF4eJn8TIQg thSs op8r4bnal fiquidity, the Trustees have agroed a m8dlum to kjng-lem investment strategy based on a Wanced portfoh'o ol boThJs aThJ eqLrritw, managed by a team ol Irwestment Advisors byho specils8 In loww-risk Investsnents forcharfbes. Th85e funds provth ¢akyral grovih and Income. All income is re-invested while it is not required Iw liqkjid règerve& The F#)licy on oèn9r81 resgryes is fed ty tho vi8wih8t tho Trnsts98 mu8t have regard to bolh the $hort and long lem7 ne8tls ol lh$ Chaiity. It 18 reguLirly T8VIW8d to 8nsurè It èff8¢1ivdy meets tho ChthlY$ objecfves. The Charity hs end8avouf8d to sgcurg a r8gular i¥)e via lleCtIOn ljoxes. mobilè phone and on4ine donati as wo11 as gift a4d d10. Thg Trustees 11 mainta'n the general income reservè to ¢nwre that the plov10 ol the Charttys plmary obi8cliv8s 11 not be han¥)èred ty an imbalance t¢fren Income and expenditUTe, bas&J on the Charitys pa31 experience of fund raslng and opetatKnal cost marHgernent. Wherelhe chrty receives fvnds for a specillc purpose t$0 fund8 are indenlied as rostrlcted lund& Any onditur6 in rèlation lo the ifjcome Is dk)cated to the lund. Where the lurKJ Is lor the purchasa of a flxgd asEet, Ihe dgpreciatton of Ihal asset Is ¢harged to th6 Testri¢#ed fund in lir with the depTeciat•Jn pjlicy. Oeslgnat8d Reser In order to manag8 th8 r8S8N8s as èffecUv8ly as F¢SslbJe, thg Charity has 85tat41sh a nUMr of designated ieserves where funds aTe'Jlno lence(r lor a 8pe)hc aspe¢r ol the wnniThJ ol the charliy. s8rv8 shows the amunt of Teservos up In fix1 assets and, herth. h8lps to darlly thè tru818vel ol 99neral reserves. The Trustees Ro is a set a8ide lo cover circurnstances le8rJ lo a signlicant drop in irme, such as loss of reputation or goooWII. 11 Ss nom)dly set ai Ihree ttmes thè level of thè years eXpendire, as Ihis is seen as the maximum it wjuld take to rost sych a loss. is an amount set asKl& foTlulure ra£mnt ol vehth. Pap3
Keswl¢k Mountsln Rescue Team Report ol the Trusteos, conld. lor the year ended 31 O¢lol>er 2023 Safety and Rl8k Managemtt Tre Tru8e$ activety feview the maNY rtsks 1¢h the Charity laces on a regukr basis. Thoy belwe that maintaining resarves at ¢urrent18vels, combined an annual review ol insurance policies and the conlr(ts over key financial systems, will provide SUffent resources in the event of adverse cOnditn8. The Trustees have examined other operational and business risks faced by the Chartly and ¢onlimi Ihat they have estabtished syslems to mitigate Ihe significant rlsk Grant Maklng The ChaTtty does not make grants to indNiduals or otherorganisatlons. HO*ver tt remains the Charilvs Frf)licy to fflake available to other rescue teams training in specialist areas, such as swift VRter rexue and aoknKed rope rescue techniques, Ihal other loams may not have obtaine(i, and Vltthout any charge to them. The pollcy in thls regard is to lacililale the spread of modem or evolviTh3 techniwè$, to enwjrage cbser Coryoperaiion beM8en teams, and to utilise tho Chantys funds lo Ihe benefitol mountaln rèscue generally. Publlc Boneflt Guldance The Twslees ¢onlirm that Ihey have complied with the dulles in se¢iion 4 01 the Charilles Act 2006 to have regard lo th8 gubjance wbltshed by the Chwity Commission, induding public benelit guidance. Trngtees Hèsponslbllllles In relatlon to the Flnan¢lal Stalement$ Thè Tnjstees ale responsible lor preparing the Trtjstees. Report and the financial stalements in aceordarte wlh applicable law and United Kingdown AcGcounting Standards (United KIn10M General Accepted AUllting Practice). The law appllcable to charities In England and Wales requlres the trustees lo prepare financial statements lor each financial yèar whh give a trué and f&r view ol the state ol affairs ol ihe charity and ol the inctsme resources arKI application ot resources of Ihe ¢harily lor th period. In preparirwJ these financial statements. the trustees are requiT8d lo=. - seleLX SUFtable a¢¢oun1ir p)lides and than appty them consislentty,. - obs¢N8 th¢ mèthods and prin¢iples in the Chariti8s SORP,. - make judgemènts and èstimates that are Tra50nable ar prudent" - state whether applicable a¢¢x)unting starKlaids have been lollowed. sublect to any material departures beirHJ disclosed and explained in the financial slalemenls: and - prepare the financtal Stalemerns on a going concern basis unless il is inappropriate io pR$ume thai the ¢harity wll continue in SIness. The Imstee$ are Tesp)nSle for keeping proper ac¢ounting rrfoTd$ that disclose with reasonable accuracy al any time the financial position of the charity and enable them to ensure that Ihe financ1 slatemenls comF4y with the Charilies 2011. They are r8$ponsibl¢ for safeguardtng tho assets of the ¢harity and, hen¢e. taktNJ aSonable steps for ihe prevenlion and dei¢cb'on ol fraud and other irreguLqrilies. Approved by the Twstees on 08 February 2024 and Signed on their behalf by James Lamb Chairman Pagc 4
Ka8wick Mountaln RK¢uo Team Indèpendent Examlners Report lor the year ondad 31 October 2tr23 I report on ihe accounts for the Trust tor the yeai erkI 31 Cttober 2023 which are $81 out on pages 6 - 14. The charity's gros$ income exceeded £250,000 aThJ l am qualtlied to undertake the examination by beN?g a qualrfi8d memberol the Inslltule of Chartered Accountants in England and Wal6s. Regpectlve r8spon8lbililies of trust and ex8mlner The charitls trustees are responsible for the preparation of the aloUnts. Tha ¢haritls trustees consider that an audit is not rwuired for this year, under secthin 144121 of the Chafiiies Act 2011 Ilhe 2011 AGtI, and thal an indeFeThJent examine repK)rt is n88ded. It is my reswnsiknlity to: - examine the accounts under secti(m 145 of th9 2011 Act. - to folk)w the procedures laKJ down in the General Directions gwen by the Charity Commission under section 145151{b) of the 2011 kt- arKJ - to stale whether partUlar matters have c¥Jrne kn my attention. Bas1$ of ldont èx2mlner8 report My examination was carTied out in accordance with the General Directions given by the Charity Commissioners. An 8xamination includ&s a rgmew ol aeLounling recor(Is kgpt by the charity and a comparison ol the accounts presented wtih these records. It also includes corisideration ol any unusual items or disclosures iTb the accounts, and seeking explanations trorn you as Iruste8s concerning any Ch matters. The prccedures undertaken do not provide all the evidencè thai would bè required in an aiMltt and, consequently, I do nol express an audit opinion on the view given by the accounts. Indoptrndont 8xamlner8' slatemenl In conne¢tion wilh my examination, no matter has Lvne to my attenti. 111 which gives me reasonable cause lo believe that. in any material respe¢l. Ihe requirements - keep accounliw rrdS In accordance wilh $130 01 the 2011 Act. and - to prepar& accounts which accord wlth the awunltng records and lo comF4y Tmth the accounting requirements of the 2011 Act have not bèèn mgt; (21 to which. in my opinion. attention shcrtAd be dravm in order to enabb a proper und•rslanding of thè 2¢rA)unts to be reached. Faye Annstrong FCA Dodd & Co Lld Rosehill Carlisle CA12RW 2110612024 Pao8 5
K•5wlck PADuntaln Flwacu• T•am stst•Theht of Finoh¢ial Aeii¥ibeg fw th• >wr•nd•d 31 2V23 31 OctolJeT 2ty23 Notes R8slrb¢tgd Unr8slrlct8d DesIated Funds 31 Octob•t 2022 Totsl Tot Donations and lega¢ies Investrnent income Other Incomè 292.693 26,977 292,693 26,977 889.366 22.083 Total Incorne 319,670 319.670 711,449 Expendiiure Cost$ ol ral$lng fund8 Charhaljk a1vIlle$ 5.894 252.794 5094 257,306 6,244 214.745 4.512 Total •xwndHur• 4,512 258.688 263,200 N8t Incom• I l•xp•ndlNra} b•forn trArok <45121 and In¥e8tments 60,982 56.470 4J.4f1} N•1 galns IIIOBSOS) on Inv8slm•nts 11.6341 11,6341 1150,3931 Nel i10e I (expenditure) 14,5121 54.836 340.067 Transfers bBtrfftn lunds {69,857) 69.857 Totsl fuTrJs brough1 loTh%wd 13,232 552.636 2,274,878 2,840,746 2,500.679 Totsl nd$ ¢Jrrfed folward 15 &720 542.127 2.344,725 2,895,582 2.840.746 The notes lotTn part of th&s• stalemet)ts Pag8 6
Ko8wick Mounlaln Team Ststement of FlTr8nclal Actlvltleg- Comparatlve lor the year ondod 31 October 2022 31 O¢tobor 2022 Restricted Unrestricted Designated Funds INCOPIE Donations and legacies Investment income Othor income 689,366 .083 689.386 22.083 Totsl Income 711,449 711.449 Expgndllurn Costs of fal¥lng funda Charit8ble activilles 6.244 209,119 6.244 214,745 5.626 Totsl expendllwe 5,626 215.363 220.989 14ot In¢omg1 (exp8ndllure) betor• ond hweslments 15.6261 496.086 490.460 galns 1(losses) on Investmen {150,3931 1150,393} Net income l {expendllure} (5,6261 345,693 340.067 Transfers beoe funds (396,5911 396.591 T81 funds brought forward 18,858 603,534 1.878.Z87 2.500,679 Totsl lunds Trfed lorwwd 13.232 552,636 2,274.878 2,840.746 The nolos form part of these IN}ancl stat8ments Page 7
Kèswick Mountaln Rèscu8 Team Balance Sheet asat 31 October 20rd Not08 31 Oclobor 2023 31 October 2022 Flxed As80ts Tangibte fixed assets Investments 1,541.606 824,624 1,495,749 831.803 10 2,366.230 2,327,552 CuTrent A88et$ 1,480 20.802 518,727 1,480 45,652 501.884 Deblois Cash at bank and in harKJ 11 541,IX19 549.016 Credhors". amounts lalling due wllhln on• yoar Creditors and accruals 12 11,657 35,822 Net Current 529.352 513.194 Total A99ets1999 CutTOrf Ll•blllll88 2,895,582 2,840.746 2,895,582 2,840,746 Funds R•StriOd funds Designated fvnds Unreslrbcted funds 13 13 8,720 2,344,735 542,127 13,232 2.274.878 552,&36 14 2,895,582 2.840.746 The linarrial statgmonts have bn prepared in acci)rdance wilh the Financiat Reporknng Standard apF4icable the UK and RePu1C ol lieland IFRS 1021 roved by the Trust$•$ 08 February 2024 and signed on their behall by: James Lamb Twslee John Hunslon Trusle8 Page 8
KMwl¢k Alwiit•ln B•c¥eTeBm Ilol•Bto thD AMn¢lAI Stsiemtnts Iw fv yr•nd•d 3t OGtobor2023 l Pollci88 Slai•m8nt ol ¢ompllan Thg accounts hdve beFn w0pared In accordgncg th the Charlues 2011, and Ihe P£cwntirwJ ar RewrtiTrJ ty Chartb'es.. Stalemenl ol Fle(xpmM8ny PractKè ISORPI aFq>lipAt4e to tharlbtrs prqmriry I 8w)rdaThx the Fkn8nra 8tsJKta awlrat48 in Ihe IM and Repu of IreJaThl IFRS t2) lett¥¢ I January 20191. B¥$l$olprnporatlo Th8charity meets the definiticffl ota PU1¢ beneffi enlty un(ler FRS 101 A&8ets and NatAleS ar6 iiwtialy reeograyed 8th#101 ¢osi tsr transaCc Val Unle slaw r•v8Tht ac¢c4Jnllffj pjky rts5. Golngconcwn Th85efhJ8ndal stat8mÈnls havg ton y•par8d on a golw cwc8m basi9. fundAocountlng polley R8strieknY n5 aro Ihtrsè donatsd lor v8e in a parbcularar&a orfora spwfic purse. the use Df i8 r8glrtotod Io Ilwt areaar wrpose. Oa$ignaled lurth setvside by the trustees outolyon4rdfunds tora 6p£1 puSe. FurtherilelaiL of each are Nol8 14. Inco DDnatrons are rwnlsed hen the Gharity has fiolifd in Wrili of both Ihe amouni 8nd settkmenl dats. In lh8 •veni that a th)nalion is SUbtIO that requirè a lev8lof Fxrtomiarte by the Charity before the Charity 15 antrued to thè lunds. the Inme ts defeired not rwnK%8d untd esther those condifrons are fvlty mel, or lh¢ fuhllmeTrtol Ih058 condmlons Ls tholty KIlh (Knlrol ol the arity and K Is WObab Ihatthe88 ¢10n$ wll bg fuknued Ihe reFoTllrvd wy)d. L¢gacy gffts aw acaso by case foNolng tt)&grant ol prob&te when administ•rlèx8cutor for the estat¢ has ConUnICaIed in wl11n0 bDlh the amount and seldemwt date. In the ent Ihat the olff is In Ihe fo ol an &8S8t other than ¢a8h or a firn¢ asset traded on a recognised siock •x¢hange. F•cogtIon is subtr> Iho Valueol th? grft }ng rdiabty m8&8urfjd vdth a d8gree of reasonable ar£¥tacy afid th8 Ilde to th& as$81 having lJ00n tra[[ to Ihe Chanty. Investrnenl In¢am& 1$ r¥gnIs¢d on a recefvabk Exp•ndltu abrt arfr r8ccgnlJ thare 1$ a IW or c<rttrLKtrrf8obfigats rxffi7mittiNJlhe chathy to the èVnthtU. All elpdIture i8 accounted loron an ftJs bws and has been ¢L1ed Yler headings that agg&ts a1091$ rela10 the rategory. Costs ol generating lund$ inckth inveslrn8nl maftagement fees. CharAabb expwdtture comwise5 th¢08 [9 by lh9 tharty w Ihe delivery of arAivM a1 sorvic8slor ts benefi888. tt indudes both ttsts Ihat can be lted su¢h a¢tiv6118s and those ¢08ts of en iTrYira¢t nttture rEsSary to supportthem. Y•nglbl• IIK•d as#ets and deprtttstton Indwidual fixed assets costsng £SOO ormore ¥e afujsf. DeFYec¥allon 1$ ljedn tngle flxed a8sÈts so &s to WTit• ¢JWlh?ccst or va*J8tknn.196s any ¢stlmatwJ rosKtsJ81 ¥afue, ovgr thetr vs¢lul oco[¢ Irf8 as frA1.. Equlpmeni IAoior vehldes Fre8hoKI b[n96 15%. 25% stralght Kne baws 25% redu¢Trnp IMlan Cfver YJ strWI li
l•$ tolh• Flnan¢k4 Stat•m•rts lorthe yeayend 31 Ociob8r 20ri 1 A¢counUng Pollclej (¢onl1rK) Inv•simoni8 Fix1 assel invgrnents ar8 iwKINJed at mathelvalue althe of Ihe balae sheeL Rèdlsed gains and1098es on eStments calculai•d as th& dffer8n¢t t¥0n s•$ ryoceèd5 and thèir fflark8t valu8 atthe Start olthe year, or IheiF 5ubsggU8gt cost, arYJ are ch8rg8rl LY cr8di18d lo Ihe stalemeni of financi a¢ttv4tigs In Ike period of thspg8at. UnTealised gwns arbj tsEgS roprgsenl the movemeniin values dunng ihe wr 81 or¢harged to the staiemeni d fvancHI aciiviD"es base(l on the Maet TrAlue the eThJ of the Yr. Trad•Cr8dltors Trath rx9dilors are ot4igatlons lo pay forgoods or se$ thal have Loen acwlred in the oT(linary coura8 of IxJness from 6uppYier5. Acwunts papt4e a cla&8ffjed as cawreni liat%'lFltes if the Charity i)&s rnt have an unconthonal rlgm, al the erKI ofthe rep)rbng perttis. to defer selllementol thè creditor lor at Iwtlwglvg worths alter tho reporting date. 11 there 18 an un10al right lo deler SeWeml for atloasl ts¥eJve months allor Ih reporNng date. they we prnl as no0<rrent Ttxde critorS ata recfrynls& inihaly aithe transaclon kyice and sub£•wendy measured at ame¥sed eosr4k8ing thè ¢flticvè interest method. Cath and cath eqthl8pts Cash and rAsh ents (%)1$¢ cash on ha[ dEP05itS. ar olher short-tewm highIy h.qurd Inveslments that a readlly cowtlble10 a knovm amoum ol aTrJ are subject to an inwgnih.cant n8k of in valuè. stock s v2bJe(l atthè kn¥er ol eost R#d net re[88b19sk18. thdu8 W8rd for 0ete 0W mo¥ENJ Stc¢ks. Nèt r&IsaA@ ¥8fu8 Is ba88d on selliffj prEr less antiupated costs to Cometi0n and sdlirwJ costs. it8nks th)nal r8sale or dtrIbUtIOn 8Je not (lded +n the finanoal sMtemw)ts until they aro ld 1¥ibutd., 31 lknber 2023 Restth Unrestrkted Deslgnabs Totsl 31 C¢bJb8r2022 2 Donjlloro •nd 1*gxl•s Gr•nlg) Leoa¢es Oonalion$ includlr¥J akj Collection Boxe5 Grant incorne 126. 143,814 22.185 126.694 143014 22.185 399.940 265,884 292.693 292,693 sted inveslmeTrts 8ank inlerest CeNl 18.187 18.187 20,8S7 26,977 26.977 4 Olborth¢om• lan8OU5 5a185 Irtsurae pr0¢8eds S Costsof rnbstni funds InvBstrnent marbagemont fges Other fundrai51ThJ costs S,303 5,454 79 6.244 591 5.894 Pw10
K•swlck Mountaln Rescue TON Notes to the Flnanclal Staternnts lor the year endéd 31 O¢tobor 2023 31 October 2023 Restricted Unrestricle(Designate( Tota 31 October 2022 6 Charltablo idlvMo9 medal supplies EqL¢ipmenl. clothing & suppltes CoLrrs8s, traning & travel Renl. rates and water Light, hoat and FY)wer Insurance Premises repairs and cleaning Teleph communications Comwter 8xp8nses Printing. stalionery and postage Motor fuel and repairs Promotional exFense5 Donations made Indep8ndent examiners fee Bank charges Depreciation freehold Depreciation equipment Deweciation motor vehlcles 15.781 53,208 45.280 1,181 6,184 4,592 15,077 22.573 15,781 53,2C 45.280 1,181 6,184 4,592 15,077 22,573 14,466 44,730 14.155 1,216 7.712 15.939 25,898 1,826 1,181 6.102 1.836 595 7,850 1.882 5.000 1,020 1,016 32,166 3,4110 28,900 1,112 8,712 4,512 252,794 595 7050 1,882 5.000 1.020 1,018 32.166 32,300 9,824 257,306 920 30,628 27,928 13.100 214,745 6a Governance Costs Ind&perKlent examiners lee 1.020 1.020 1,020 1.020 920 920 7 TnFStee Remunerallon and Expensos No tnjstees recetved any remun¥ation during ltte yèar. Travelling exFenses lolalllng £82 were paid lo of the Iruslees to reimbu th9m expenses in¢urr*J in the course of their dulle& 8 Net Income l (expwdlturn) Net IOm8 I lexwndlturel is stated after chargiryJ: 2022 D8precialion of tangible fixed ass8ts Independenl examinerfs fee 74.290 1,020 71,656 920 Page11
K•swkk Ilountsln Rcu• T•8m Notsg to the Fln•ncl81 Statements lor t year ended 31 October 223 TaNJible Flxed Asg Freehold land and buiklings Motor vehKJes Equlpment Al 1 Nov&nb8r 2022 A(hJiDons Disposals Al 31 Ootrter 2 1.531,391 76,910 258.66S 251.493 43.237 2.041,550 120,147 1 608 301 258.66S 2161.697 DEPRECIATION Al 1 November 2022 ChaTge lor year Elirnin8tgJ on ¢Jispo$81s At 31 October 2023 142.243 32,166 219.366 9.824 184.192 32,300 54&801 74,290 174,409 229.190 216.492 620,091 NEf BOOK VALUE At 31 October 21)23 1.433,892 29,476 78.238 1.541,606 At 31 Odob•r 2022 1,389,148 39,300 67.301 1.495,749 10 Investm1$ h•ld •3 Ilxed Markgt Volu• At l November 2022 Athlftlons Disposals Revalualbn 831.803 81,888 187,4331 31 Octobgr 2023 824.624 11 D•blors 31 Oclober 2023 31 Octcthr 2022 Trade debtors Prepayments and ac£rued incom8 VAT redaimable Grft •d tho 1,220 6.303 9,912 3,367 20,802 13,317 25,999 12 Crgditors.. omountsl•llng duo wlthln one y 31 Octrts *)¥J 31 October 2022 Trade cr&lilors AccwJs 10.657 1,000 11,657 6.572 29.250 35.822 Page t2
K•wl¢k Al181 Ilescuè Tffim to ttw Flnanclal StAteThent8 r th¥yw ended 31 Odober 2023 13 Furwts OulgoltWJ At 1 N9Mber 2022 Rèstturteg Resources Transl•r$ 31 OOber kY)23 R•strf¢t•d Grant FuTh4•d Assetg 13,232 {4.S121 4.512 Deglgnal•d Trustees ReseN6 663,129 663,129 F•d Assèt R•serv• 1,495,749 45,857 1,541,606 V8hth Replacent Reswve 118,Ocl 24.Crf)O 140,COJ 2.274,878 2,344,735 The transfer to th8 Flx8d Asset Reserve 15 Ihe net aLiifions ¢0 flxed assets in Ihe yew- the cosl ol addltfv)ns Ipss the dwouatlon (8rued. Funds Yearended 21st October 21rw At IrKomirMJ out9 01 Nov9fTrt>eT 202( F*5wrces Resouice8 Tran81er8 31 Octcthr 2021 Grant FUld Assètj 18058 {5,6261 13.232 13 Deslgnoied Trustees ReseN 473.829 478.829 Fixed Asset ReseNg 1,218,&33 276,916 1.495,749 8uildiThJ Fund Res8N 69.625 169,6251 Vehlcb RathceTn8nt Res¢Tve 116,(0 116,000 1,B78.287 207.291 2.085,578 Rerted Funds When grants are awarded to ts ièam for th8 wrchase d fiwj assets these bjnds are alocated lo a restre ILJThJ the deweciatM)n ol the asset alkxated to ihat furKI in accordance th& dapr¢ciation Pa 13
K•swlck Mounlaln R08cuo Team Notes to the Financlal Statemenls for the year end8d 31 October 2023 Dosignated Funds The Truslees ReseNe is a set asth to cover ¢ircumslan¢8s Eeathng to a signifionl drop in w)come, stjch as h)ss of rtatIon or goO(fvlI. It is set ai three times the level ol the pwious yearfs expendliure, as this is seen as the maximum t¢me il would take to restore such a kJSS. The Fixed A8S8t Reserve shows the amt)unt of serveS Dod up in lixed assets arY, hence, helps to clarify Ihg true lev81 ol Gen8fdl Reserves. The Building Rese8 18 a set as%le lo cover the cost8 01 buikling the planned extensK)n to the The Vehicle Rcement ReseNe is an 8m¢JJnt set aside for future Cernent ol vehicles. The Ifansler from General Reserves into the Twstees reserve is to agree the Trustee8 Reserve to Ihr80 times Ihe prwous yearfs exp&ndilure. in line wilh Ihg polky tor this reserve. The Iransler into Ihe Fixed Assel Reserve is lo agree this r8serve lo Ehe nel book value ol the fixed &ss8ts ai thè year d. Tha tran$ler from tho Building Fund is to ruc8 the valije lo the balance due on the buihjing gxtension CCraCt. The transfer Irom the veh18 Replacemanl ResetNe is lo reflect the purchase of a vehlcle during the y8ar afKI lea* an amount sufflent to Purchase replacement vehles. 14 Not A688ts by lund Restricied Unrestiicted Oe8ignated Total Taryibb lixed assets Inveslments Current assets Creditors: amounts falllng du& within one year 1,541,606 663,129 140,O¢XI 1,541,806 824.624 541,009 111.657) 161,495 392.289 111.65n 8,720 Total nel assets 8.720 542.127 2,344,735 2,895,582 Net AsSS by fund . Year Ended 31 October 2072 Restricted Unr8stri8d D¥swat8d Total Tangle fixed as$els Invegtments Gurfent assets Creditors.. amounts lallng dug within one year 1,495,749 663,129 116,000 1,495,749 831.803 549,016 135,822) 168,674 419.784 135.8221 13,232 Totsl ngt as8ets 13,232 552.636 2,274,878 2.840,746 Page14