REGISTERED CHARITY NUMBER: 1172355
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024
for
Lochnagar Crater Foundation
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA
Lochnagar Crater Foundation
Contents of the Financial Statements for the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
Lochnagar Crater Foundation
Report of the Trustees for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the CIO are to promote public benefit by the advancement of education about the history of the Great War and the commemoration of those who have died whilst on active service.
Public benefit
To educate young people about aspects of the Great War and to commemorate the fallen by the creation and implementation of three specialist education projects.
The trustees maintain regard to guidance issued by the Charity Commission.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Numbers of visitors to Lochnagar Crater continue to rise this year. There has been an increase in the number of French school groups visiting as well as more British school groups now travelling to mainland Europe and the Somme battlefield. We have also seen greater numbers of individuals and family or other small groups visiting from the UK, other mainland European countries and from farther afield.
The Lochnagar Crater memorial ceremonies on July 1st and November 11th have also had greater numbers of attendees and we continue to broadcast both of these events via Facebook Livestream.
Visitors to the Crater continue to spend time reading the 20 Labyrinth Panels ('Lochnagar Labyrinth' information panels https://lochnagarcrater.org/history/lochnagar-labyrinth/ ) around the site which we reported last year were beginning to show significant signs of wear and tear. We have now secured funding through a generous bequest and have so far replaced the legs and frames and will replace the panel tops in the early part of the coming year - 2024 to 2025.
Again throughout 2023 into 2024 our greatest challenge has been fundraising to continue the walkway replacement around the lip of the Crater. As well as kind donations from the general public we made grant applications from Somme Department and the regional administrative area, Hauts de France. We were fortunate to qualify for two grants which meet their criteria for public benefit. These grants roughly match our own spending as we proceed section by section to replace and improve the walkway. Part of our plan is to replace all steps in the path to make the whole perimeter accessible to people with reduced mobility. Up to 31st March 2023 we had completed 64 metres and now as of 31st March 2024 we have replaced approximately 120 metres of the circumference with another 110 metres or so left to complete.
We continue to feature our educational and informational resource packages available through our website at https://lochnagarcrater.org/schools/ .
The Lochnagar Commemorative Plaques which are personalised engraved commemorative plaques secured on the walkway at the Lochnagar Crater https://www.lochnagarcrater.org/support/lochnagar-commemorative-plaques/ continue to draw positive interest and attention and we have had a steady number of new sponsorships for these throughout the year.
Our website continues to be updated regularly with news and information.
Our social media presence continues to grow with our Facebook page and group having nearly 3,500 followers.
Page 1
Lochnagar Crater Foundation
Report of the Trustees for the Year Ended 31 March 2024
FINANCIAL REVIEW
Reserves policy
The Lochnagar Crater Foundation has no requirement for a reserves policy as it has no on-going dependencies. The Foundation has only undertaken projects as funding became available.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1172355
Principal address
Little Down Hog's Back Seale, Farnham Surrey GU10 1HD
Trustees
R Dunning MBE Chair L Felstead J Wright Secretary D Disbrey Treasurer J Thomson D Thomson I Fry
Independent Examiner
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ R Dunning MBE - Trustee
Page 2
Independent Examiner's Report to the Trustees of Lochnagar Crater Foundation
Independent examiner's report to the trustees of Lochnagar Crater Foundation
I report to the charity trustees on my examination of the accounts of Lochnagar Crater Foundation (the Trust) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, CChA, FRSA
A J Bennewith
Upper Ground Floor 18 Farnham Road Guildford Surrey GU1 4XA
Date: .............................................
Page 3
Lochnagar Crater Foundation
Statement of Financial Activities
for the Year Ended 31 March 2024
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 21,546 | 17,877 | |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Charitable expenditure | 23,102 | 26,663 | |
| NET INCOME/(EXPENDITURE) | (1,556) | (8,786) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 11,867 | 20,653 | |
| TOTAL FUNDS CARRIED FORWARD | 10,311 | 11,867 |
The notes form part of these financial statements
Page 4
Lochnagar Crater Foundation
Balance Sheet
31 March 2024
| 31.3.24 | 31.3.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 4 | 375 | 500 |
| CURRENT ASSETS | |||
| Cash at bank | 10,596 | 11,967 | |
| CREDITORS | |||
| Amounts falling due within one year | 5 | (660) | (600) |
| NET CURRENT ASSETS | 9,936 | 11,367 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 10,311 | 11,867 | |
| NET ASSETS | 10,311 | 11,867 | |
| FUNDS | 6 | ||
| Unrestricted funds | 10,311 | 11,867 | |
| TOTAL FUNDS | 10,311 | 11,867 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R Dunning MBE - Trustee
The notes form part of these financial statements
Page 5
Lochnagar Crater Foundation
Notes to the Financial Statements for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment: 25% reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
continued...
Page 6
Lochnagar Crater Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
2. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
During the year, 1 trustee (2023: 2) was reimbursed a total of £4,650 (2023: 7,611) for expenses incurred in carrying out their duty as trustees.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| 3. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |
|---|---|---|
| Unrestricted | ||
| fund | ||
| £ | ||
| INCOME AND ENDOWMENTS FROM | ||
| Donations and legacies | 17,877 | |
| EXPENDITURE ON | ||
| Charitable activities | ||
| Charitable expenditure | 26,663 | |
| NET INCOME/(EXPENDITURE) | (8,786) | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 20,653 | |
| TOTAL FUNDS CARRIED FORWARD | 11,867 | |
| 4. | TANGIBLE FIXED ASSETS | |
| Computer | ||
| equipment | ||
| £ | ||
| COST | ||
| At 1 April 2023 and 31 March 2024 | 1,650 | |
| DEPRECIATION | ||
| At 1 April 2023 | 1,150 | |
| Charge for year | 125 | |
| At 31 March 2024 | 1,275 | |
| NET BOOK VALUE | ||
| At 31 March 2024 | 375 | |
| At 31 March 2023 | 500 |
continued...
Page 7
Lochnagar Crater Foundation
Notes to the Financial Statements - continued for the Year Ended 31 March 2024
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 31.3.24 | 31.3.23 | |||
| £ | £ | |||
| Other creditors | 660 | 600 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.23 | in funds | 31.3.24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 11,867 | (1,556) | 10,311 | |
| TOTAL FUNDS | 11,867 | (1,556) | 10,311 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 21,546 | (23,102) | (1,556) | |
| TOTAL FUNDS | 21,546 | (23,102) | (1,556) |
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.4.22 | in funds | 31.3.23 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 20,653 |
(8,786) | 11,867 |
| TOTAL FUNDS 20,653 |
(8,786) | 11,867 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 17,877 |
(26,663) | (8,786) |
| TOTAL FUNDS 17,877 |
(26,663) | (8,786) |
continued...
Page 8
Lochnagar Crater Foundation
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
7. RELATED PARTY DISCLOSURES
Lochnagar Crater (France) is a French Association, registered number W804007072. Its council members are the same persons as the trustees of Lochnagar Crater (UK). In this financial year being reported, the Lochnagar Crater Foundation has transferred out a total of £9,927 to Lochnagar Crater (France). The French charitable association has the same objects as the U.K charity and the monies provided are spent on projects approved by both entities. The above monies were spent on the replacement of the walkway around the perimeter of the crater.
8. INDEPENDENT EXAMINER'S REMUNERATION
| Independent Examiner's remuneration | 2024 £ 660 |
2023 £ 600 |
|---|---|---|
Page 9